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2024-07-31-accounts

Docusign EnvelopÈ ID". 4386A99A-F1614A51-89DF-1DDOE16FE7A8 Financial Statements 2023-24 A rgui5t￿l Chartyand Company tirThtgd ty Gua3nt4 comp￿ Flagistrat￿Tr No. 01747753 Ghanty No. 287589 N¥

Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

COMPANY INFORMATION FOR THE YEAR ENDED 31 JULY 2024 ……………………….…………………………….2 TRUSTEES’ REPORT………………………………………………………………………………………………………………………3–14 INDEPENDENT AUDITOR’S REPORT TO MEMBERS AND TRUSTEES OF THE BLACKHEATH HALLS….15–19 CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES……………………………………………………………….…..20 CONSOLIDATED AND CHARITY BALANCE SHEETS…………………………………………….……………………………….21 NOTES TO THE FINANCIAL STATEMENTS……………………………………………………………………………….……22–36

Cover image: Blackheath Halls Opera 2023 ‘Semele

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Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

COMPANY INFORMATION FOR THE YEAR ENDED 31 JULY 2024

Trustees Professor Anthony Bowne (Chair)
Dr Aleksander Szram
Philip Harding (until 15 April 2024)
Peter Hearn
Dr Ji Liu (appointed 4 December 2023)
Jonathan Peel MBE
Ralph Sanders (appointed 1 May 2024)
Francesca Robinson
Ailish Tynan (appointed 4 December 2023)
The Rt Hon Dame Joan Ruddock DBE (until 15
October 2023)
Director of Blackheath Halls Gemma Okell
Secretary Dean Surtees
Company Number 01747753
Charity Number 287589
Registered Office King Charles Court
Old Royal Naval College
Greenwich
London
SE10 9JF
Independent Auditor Grant Thornton UK LLP
30 Finsbury Square
London
EC2A 1AG
Bankers Lloyds Bank
PO Box 1000
Andover
BX1 1LT

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Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

BLACKHEATH HALLS

For the year ended 31 July 2024

TRUSTEES’ REPORT

The directors, who are also trustees of The Blackheath Halls, present their report and the audited financial statements of the Charity for the year ended 31 July 2024.

The trustees report has been prepared taking advantage of the exemptions available to small companies under the Companies Act 2006 and FRS102.

The Directors of the Charitable Company are also Trustees of the Registered Charity as provided under the Charities Act 2011 and, in submitting their annual report and audited financial statements for the year ended 31 July 2024, confirm that they have complied with the duty of the Charity Commission Guidance to have due regard to the general guidance on public benefit.

Objectives and Activities

The Blackheath Halls is a registered Charity raising funds to advance education particularly by the encouragement of the arts of music and other related areas of the arts.

In pursuance of these objects, the Charity operates Blackheath Halls as a venue for the performing arts, offering public benefit through its programme of activities providing:

The Trust also takes responsibility to maintain and enhance the venue as a Grade 2 listed building, ensuring it remains relevant and equipped as a centre for the delivery of the arts.

A new Strategic Plan 2024 – 2029 was approved during the year. Following on from nearly ten years of capital improvements to the building inside and out, the plan focuses on making the most of our new facilities, offering a programme and experience of the highest standards to everyone who visits BHH.

Our vision is to continue building our reputation as a distinctive multi art-form organisation; a successful, versatile and welcoming performance venue, inspired by - and serving - our local communities.

BHH’s strategic objectives over the period of this plan are to:

Achievements and Performance

This has been a particularly successful and fulfilling year for Blackheath Halls, with a packed programme of performances, workshops and other events.

Recent landscaping work at the front of the building has given a new lease of life to the organisation. The culmination of many years of improvements to the building was celebrated in a ‘Blackheath

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Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

TRUSTEES’ REPORT (CONTINUED)

Halls Transformed’ event with Sir Bryn Terfel CBE and Blackheath Halls Youth Choir performing in the presence of Trinity Laban Patron HRH Duke of Kent KG.

Events and Attendance Figures

Events and Attendance Figures
Live Performances, rehearsals and other activities 964 Nearly three a day
Attendance at live events 54,556 Another record for Blackheath Halls
Active community engagementparticipants 1,043 Of all ages and backgrounds
Online engagement 13,138 Worldwide

In 2023/24, Blackheath Halls had the pleasure of welcoming 54,556 people to 964 live performances, rehearsals and other activities.

This included 172 performances (the majority of which were programmed directly by Blackheath Halls or Trinity Laban) with ticketed audiences of 27,895, and 173 participatory sessions run at Blackheath Halls, schools and other local venues as part of our Community Engagement programme, engaging 1,043 active participants of all ages and backgrounds.

Another 13,138 people viewed online content previously created by Blackheath Halls making a total of 67,694 people who engaged with the arts through the organisation.

Programme Highlights

Highlights of the professional performance programme included:

“This group is sensational. The beautiful, powerful, soothing acapella of Zimbabwean song and dance together with wonderful audience participation is truly spectacular. My friend and I had a wonderful evening and cannot wait to see this group again. The staff at the venue were warm, friendly and helpful.” Black Umfolosi audience member

Highlights of the Community Engagement Programme included :

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Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

TRUSTEES’ REPORT (CONTINUED)

Black Umfolosi leading workshops at partners school Grinling Gibbons

“The other standout is the utterly convincing chorus, which features performers from Special Educational Needs schools and youth companies alongside elderly members of the community. Not only do they cohere completely as a group but, thanks to musical director Christopher Stark, they give the writing all the conviction and bite that Handel could have asked for. Their dedication and evident delight turn a strong production into a seriously moving one.” The Stage review of Semele

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Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

TRUSTEES’ REPORT (CONTINUED)

Blackheath Halls Opera 2023 ‘Semele’

Highlights of Trinity Laban’s programme included:

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Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

TRUSTEES’ REPORT (CONTINUED)

Kaleidoscope Big Band & Jazz Orchestra 2024

Development work

All income from the Friends and Patrons scheme now contributes directly to our community engagement programme. This is a vital source of funding that needs to grow to be able to continue with our existing programme, let alone achieve our future ambitions. We receive no regular public funding, either from our local authorities or from Arts Council England.

Our Development Committee chaired by Board member Francesca Robinson has continued to meet to increase charitable donations, and build audiences and support for Blackheath Halls. Members of the Committee supported events, recommended changes to the Friends and Patrons Scheme such as the addition of a monthly membership, and generated ideas for attracting new members.

Our annual opera gala fundraising night was yet again pronounced to be ‘the best ever’ by a full and enthusiastic audience. Under the inspired guidance of Opera Patron Ailish Tynan, Matthew Rose, Julia Sitkovetsky, Luis Gomes, Artur Rucinski and Galina Averina, and Blackheath Halls Youth Choir

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Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

TRUSTEES’ REPORT (CONTINUED)

performed, with Sean Rafferty hosting. The event raised £35k, making up about a third of the income needed to run the community opera.

“Congratulations in pulling together such a stunning event. As we are used to saying now….it was the best! How fortunate we are to have such a top class event at the bottom of our road. Really, it was superb and all my guests were most complimentary about it all.” Patron Opera Gala Night 2024

A successful fundraising campaign as part of The Big Give raised £22k to support events for children and young people this year, and we acknowledge the generosity of everyone who pledged, as well as our match funders The Childhood Trust. 40% of people who donated to the Big Give have never donated to us before, which suggests there is an appetite for campaigns which attract one off donations, as well as our regular giving methods, and we intend to take part again next year.

We are grateful for the support of various trusts and foundations this year, including The Hearn Foundation, The Samuel Gardner Memorial Trust, D’Oyly Carte Charitable Trust, the Peter Harris Trust, the Smillie Family Trust, and Audience Club, and The Childhood Trust.

Building improvements

Thanks to a transformational grant by the Hearn Foundation and donations from the local community, we reached the end of a nearly ten year period of extensive works to the interior and exterior of the building.

This year saw the completion of landscaping work to improve the outside of the building for existing users of the building, and attract new users and audiences. Brickwork on the façade and front wall has been cleaned and repaired, surfacing and ramp to the building replaced, new granite paving has been laid and benches, bollards, signage and lighting installed, and planting to the garden completed.

“I just wanted to drop a quick note to congratulate you on the renovations to the forecourt of the Halls. It has been done to a remarkable quality, is a real credit to the Halls and an enhancement to the village more broadly. I am sure that everybody else who uses the village appreciates the care that must have gone into specifying and designing the work.” Local audience member / supporter

We celebrated the successful completion of this work in Blackheath Halls Transformed on 17 April with an invited audience of supporters enjoying performances by Bryn Terfel, Blackheath Halls Youth Choir and Trinity Laban Jazz Students, in the presence of HRH Duke of Kent. Further information about the event – and the work it celebrates – can be found here , and the programme for the event here .

“And what a special evening it was!” Westcombe News on Blackheath Halls Transformed

“It was a splendid event on Wednesday. I had a most enjoyable evening and met some delightful people I hadn’t previously known.” Friend of Blackheath Halls

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Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

TRUSTEES’ REPORT (CONTINUED)

Our thanks

The Board extends thanks to everyone who has contributed to Blackheath Halls’ success this year; staff, volunteers, artists, students, hirers, donors, audiences and partners. Without you, Blackheath Halls would not exist.

We acknowledge and appreciate the substantial investments made in capital development by the Hearn Foundation, which have transformed the building inside and out, and enhanced the experience for all who engage with the organisation.

We appreciate the skills and external perspective bought by the Development Committee, and thank them, and in particular Ailish Tynan, our Opera Patron.

We thank the Friends and Patrons of Blackheath Halls for their vital donations towards the community engagement programme, and to other Trusts and Foundations and individuals who have invested their money and belief in the organisation this year.

This year we also want to acknowledge particular individuals, whose memory is dear to Blackheath Halls. Much appreciated legacy gifts have come from keen Friends and classical music audience members Esta Finlay and Janet and Desmond Churcher this year. We also remember the incredible contributions of Neil Rhind MBE and Sir Stephen Oliver whose vision and work in the 1980s saved and developed the building as a performance venue for the local community. They will be very much missed.

Financial Review

At the end of the 2023/24 financial year, the Halls generated a surplus of £164,792 compared to an overall surplus of £130,1078 in the previous year.

This was substantially better than budgeted, but in line with the prior year surplus, primarily thanks to two legacy donations received during the year. Overall income from hires and bar was also higher than budgeted (and better than last year), particularly amateur hires and rehearsals, thanks to careful scheduling, continuing good relationships with orchestras and partners, and some other venues in London being closed for refurbishment. The increase in income was partially off-set by increased staffing and technical costs to support these additional hirers.

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Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

TRUSTEES’ REPORT (CONTINUED)

Income from ticket sales achieved budget, although was down slightly compared to 22/23, with fewer big name comedy events, an organisational focus on community engagement and hires over own promotions performance, and a high cost of living that meant audience members were buying slightly fewer tickets for events this year. Continued generous Friends and Patrons support and other income supported the community engagement programme. Other than costs associated with the Transform event which were not in the original budget for the year, plus increased audit costs, a tight control on expenditure in all other areas contributed to the positive picture this year, and provides a strong basis for going in to 24/25 and beyond.

Reserves policy

Reserves are classified as restricted or unrestricted. Restricted reserves include balances where the donor has designated a specific purpose and therefore The Blackheath Halls is restricted in the use of these funds. A transfer of funds from restricted to unrestricted reserves is carried out once restriction has been discharged. Excluding the revaluation reserve there are currently unrestricted free reserves of £2,733,148 (2022/23: £2,545,769).

Note 1a ii and iii shows the Charity has adequate resources to enable operations in the foreseeable future.

Reserves are maintained at a level that enables Blackheath Halls to manage financial risk and short term income volatility. They allow the Charity to ensure that financial commitments can be met as they fall due. In practice, this means the board considers that the Blackheath Halls should maintain cash reserves equivalent to 3 months’ expenditure, less depreciation. In 2023/24 the equivalent of three months’ expenditure equated to £273,160 whereas cash stood at £249,343 at 31 July 2024, which is below our reserves policy.

Risk management

The major risk exposures are as follows:

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Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

TRUSTEES’ REPORT (CONTINUED)

Going Concern

With the letter of support provided by the parent entity, the Board do not consider there to be any material uncertainty over the ability of the charity to continue as a going concern for the foreseeable future, being for a period of at least twelve months after the date on which the report and financial statements are signed. The accounts have therefore been prepared on a going concern basis. The Directors have reviewed the short to medium-term financial outlook for Blackheath Halls, including income, expenditure and cashflow forecasts. This has been done in the knowledge of historic performance and trends, as well as the pipeline of bookings and events for the remainder of 2024-25 and for 2025-26. These project operating deficits in each year and a net cash outflow in 2024-25, followed by a cash inflow in 2025-26. Excluding the revaluation reserve, currently there are unrestricted reserves of £2,733,148 (2022-23: £2,545,769).

Future Strategy

Following a period of review of progress against our previous plan’s targets, and analysis and discussion of future plans by Board and staff, the Board approved a new Strategic Plan 2024-2029 in March 2024. This focuses on making the most of our new facilities, offering a programme and experience of the highest standards to everyone who visits BHH.

BHH’s strategic objectives over the period of this plan are to:

The plan outlines key actions to achieve these priorities and continues to steer the organisation’s direction and plans.

Actions for the next period include:

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Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

TRUSTEES’ REPORT (CONTINUED)

Structure, Governance and Management

Governing Document

The Blackheath Halls is a company limited by guarantee governed by its Memorandum and Articles of Association, and registered as a charity with the Charity Commission. Blackheath Halls is a wholly owned subsidiary of Trinity Laban Conservatoire of Music and Dance.

Related parties

The Charity owns and operates a wholly owned trading subsidiary, BCH Enterprises Limited, which is registered in England, Registered No. 02642177.

Organisation

The Board of Trustees oversee the business of the Charity, delegating day to day management to the Director, to implement the adopted policy and strategy, within a budget approved by the Trustees and the parent company. The Director's role description outlines the extent of her authority. The Director reports regularly to the Trustees on the activities undertaken and the financial position of the Charity.

Effective resolutions

Elective resolutions have been passed for the purposes of:

Appointment of Trustees/Directors

As set out in Articles of Association, there are seven trustees of the Blackheath Halls, four trustees are nominated by Trinity Laban Conservatoire of Music and Dance and three are nominated by the Hearn Foundation. Where a vacancy arises Trinity Laban or the Hearn Foundation will nominate a replacement to serve as a trustee.

Directors are also Trustees of the Charity. In 2016–17, following an agreement with Hearn Foundation to provide a grant of £1.85m, a new governance arrangement was put in place whereby The Blackheath Halls Board changed to four Trustees from Trinity Laban Conservatoire of Music and Dance and three Trustees who are either trustees of:

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Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

TRUSTEES’ REPORT (CONTINUED)

As of 31 July 2024, the Board consisted of Professor Anthony Bowne (chair), Francesca Robinson (Deputy Chair), Peter Hearn, Dr Ji Liu, Jonathan Peel MBE, Ralph Sanders Dr Aleksander Szram, and Ailish Tynan (Blackheath Halls Opera Patron).

Director induction and training

New Directors meet the Chair of Blackheath Halls and key employees who brief them on:

Tours of the Halls and other Conservatoire facilities are arranged, and Trustees are invited to attend appropriate events and workshops where these may better facilitate the undertaking of their role.

Trustees' responsibilities statement

The Trustees (who are also directors of The Blackheath Halls for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including FRS 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to the auditor

The Trustees confirm that:

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Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

TRUSTEES’ REPORT (CONTINUED)

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS102 Section 1A - Small Entities.

By Order of the Board

Professor A. Bowne Chair of Trustees

3/12/2024

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Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

BLACKHEATH HALLS

For the year ended 31 July 2024

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE BLACKHEATH HALLS

Opinion

We have audited the financial statements of The Blackheath Halls (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 July 2024, which comprise the Consolidated Statement of Financial Activities, Consolidated and Charity Balance Sheets and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102; The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We have been appointed as auditor under the Companies Act 2006 and report in accordance with regulations made under that Act. We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the ‘Auditor’s responsibilities for the audit of the financial statements’ section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We are responsible for concluding on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group’s and the parent charitable company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify the auditor’s opinion. Our conclusions are based on the audit evidence obtained up to the date of our report. However, future events or conditions may cause the group or parent charitable company to cease to continue as a going concern.

In our evaluation of the trustees’ conclusions, we considered the inherent risks associated with the group’s and parent charitable company’s business model including effects arising from increasing interest rates, increasing inflation and other macro-economic uncertainties, we assessed and challenged the reasonableness of estimates made by the trustees and the related disclosures and

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Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE BLACKHEATH HALLS (CONTINUED)

analysed how those risks might affect the group’s and parent charitable company’s financial resources or ability to continue operations over the going concern period.

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s and parent charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Financial Statements, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the Financial Statements. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report under the Companies Act 2006

In the light of the knowledge and understanding of the group and parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors’ Report included in the Trustees Report.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

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THE BLACKHEATH HALLS

For the year ended 31 July 2024

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE BLACKHEATH HALLS (CONTINUED)

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement set out on page 13 the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

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Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE BLACKHEATH HALLS (CONTINUED)

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an

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THE BLACKHEATH HALLS

For the year ended 31 July 2024

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE BLACKHEATH HALLS (CONTINUED)

auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

James Bird

Senior Statutory Auditor for and on behalf of Grant Thornton UK LLP Statutory Auditor, Chartered Accountants London

3/12/2024

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Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

----- Start of picture text -----
Unrestricted Restricted Total Funds
Funds Funds Total Funds Restated
Notes 2024 2024 2024 2023
Income From: £ £ £ £
Donations and Legacies 2 175,246 290,726 465,972 469,075
Charitable Activities:
Operation of Blackheath Halls 3 659,576 11,511 671,087 636,689
Other Trading Activities 6 308,286 - 308,286 247,622
Total Income 1,143,108 302,237 1,445,345 1,353,386
Expenditure on:
Raising Funds 7 102,297 - 102,297 92,764
Charitable Activities:
Operation of Blackheath Halls 8 898,069 124,012 1,022,081 998,914
Other Trading Activities 9 155,995 - 155,995 131,601
Total Expenditure 1,156,361 124,012 1,280,373 1,223,279
Net Income/(Expenditure) (13,253) 178,225 164,972 130,107
Transfer Between Reserves 192,340 (192,340) - -
Net Movement in Funds 179,087 (14,115) 164,972 130,107
Reconciliation of Funds
Total Funds Brought Forward 15 3,872,454 19,608 3,892,062 3,761,955
Total Funds Carried Forward 4,051,541 5,493 4,057,034 3,892,062
----- End of picture text -----

The notes on pages 22 to 36 form part of the financial statements.

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Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

CONSOLIDATED AND CHARITY BALANCE SHEETS

Company Registration no: 01747753
Note
Fixed Assets
Tangible Assets
11
Investments
Current Assets
Stock
Debtors
12
Cash at Bank and in Hand
13
Net Current Liabilities
Total Assets less Current Liabilities
14
Total Net Assets
Total Unrestricted Funds
15
Total Restricted Funds
15
Total Charity Funds
Creditors: Amounts Falling Due
Within One Year
Creditors: Amounts Falling Due
After More Than One Year		 Group
Charity

Group
Restated
Charity
Restated
2024
2023
2024
2023
£
£
£
£
5,565,855
5,496,467
5,556,623
5,487,283
-
-
2
2
5,565,855
5,496,467
5,556,625
5,487,285
11,504
4,975
-
-
97,137
109,359
53,334
199,793
249,343
247,387
141,507
36,172
357,984
361,721
194,841
235,965
(849,300)
(917,371)
(686,001)
(790,332)
(491,316)
(555,650)
(491,160)
(554,367)
5,074,539
4,940,817
5,065,465
4,932,918
(1,017,505)
(1,048,755)
(1,017,505)
(1,048,755)
4,057,034
3,892,062
4,047,960
3,884,163
4,051,541
3,872,454
4,042,467
3,864,555
5,493
19,608
5,493
19,608
4,057,034
3,892,062
4,047,960
3,884,163

These financial statements have been prepared in accordance with the special provisions for small companies under section 419(2) of the Companies Act 2006 and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).

The financial statements were authorised and approved by the board and signed on its behalf by:

A. Bowne

Trustee 3/12/2024

The notes on pages 22 to 36 form part of the financial statements.

21

Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

NOTES TO THE FINANCIAL STATEMENTS

1. Accounting policies

The principal accounting policies, judgements and key sources of estimation uncertainty in the preparation of the financial statements are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year in dealing with items which are considered material in relation to the financial statements.

a) Basis of accounting

b) Going concern

With the letter of support provided by the parent entity, the Board do not consider there to be any material uncertainty over the ability of the charity to continue as a going concern for the foreseeable future, being for a period of at least twelve months after the date on which the report and financial statements are signed. The accounts have therefore been prepared on a going concern basis. The Directors have reviewed the short to medium-term financial outlook for Blackheath Halls, including income, expenditure and cashflow forecasts. This has been done in the knowledge of historic performance and trends, as well as the pipeline of bookings and events for the remainder of 2024-25 and for 2025-26. These project operating deficits in each year and a small net cash outflow in 2024-25, followed by a cash inflow in 2025-26.

Amounts due to Trinity Laban Conservatoire of Music and Dance and BCH Enterprises Limited include £1,612,290 (2023: £1,435,942). The Directors have received written assurances from the Board of Trinity Laban Conservatoire of Music and Dance that it will not seek repayment of this outstanding balance from 12 months of the date of signing the financial statements.

c) Basis of preparation

The consolidated accounts include the results of the Charity and its subsidiary, BCH Enterprises Limited. In the Charity's accounts the investment in the subsidiary is stated at cost. A separate Statement of financial activities and Income and Expenditure account for the Charity can be found in note 4. The Blackheath Halls is a charity and the financial statements are presented in Sterling (£).

d) Income

Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably.

22

Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

Income from government and other grants, is recognised when the Charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Grants, donations and other income are allocated to individual restricted funds if a restricted use is specified on receipt. If not specified, they are allocated to the unrestricted funds. Income received in advance of a performance or provision of other specified service it is deferred until the criteria for income recognition is met.

e) Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the Charity. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Charity’s work or for specific projects being undertaken by the Charity.

f) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

g) Fixed assets

Tangible fixed assets are stated at cost. Depreciation is provided at rates estimated to write off the costs of tangible fixed assets by equal instalments over their anticipated useful lives. The leasehold buildings and land were reapportioned in the year ended 31 July 2018 between freehold and leasehold land and buildings.

Depreciation rates are as follows:

23

Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

h) Stock

Stock is stated at the lower of cost and net realisable value. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the consolidated statement of financial activities.

i) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

j) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

k) Creditors

Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

l) Employee benefits

Short term employment benefits such as salaries and compensated absences are recognised as an expense in the year in which the employees render service to the Charity. Any unused benefits are accrued and measured as the additional amount the Charity expects to pay as a result of the unused entitlement.

m) Accounting for retirement benefits

The Blackheath Halls participates in one pension scheme, the National Employment Savings Trust (NEST). The NEST is a defined contribution workplace pension scheme, run by a Trustee (NEST Corporation) on a not-for-profit basis. The Blackheath Halls pays fixed contributions to the scheme and will have no legal or constructive obligation to pay further amounts. The amount charged to the income and expenditure account represents the contributions payable to the scheme in respect of the accounting period. These amounts have been allocated between activities and funds on the same basis as the salary costs for the relevant employees.

n) Taxation

The Blackheath Halls is potentially exempt from taxation in respect of income or capital gains and is covered within the meaning of Part 3 of the Charities Act 2011. It is therefore a charity within the meaning of Paragraph 1 of schedule 6 to the Finance Act 2010 and accordingly, the Blackheath Halls is potentially exempt from taxation in respect of income or capital gains received within categories covered by section 478–488 of the Corporation Tax Act 2010 (CTA 2010) or section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied to exclusively charitable purposes.

24

Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

The Blackheath Halls receives no similar exemption in respect of Value Added Tax. Irrecoverable VAT on inputs is included in the costs of such inputs. Any irrecoverable VAT allocated to fixed assets is included in their cost. The Blackheath Halls' subsidiary is liable to Corporation Tax in the same way as any other commercial organisation.

o) Critical accounting judgements and estimates

In preparing the financial statements, the trustees are required to make estimates and judgements. The items in the financial statements where these judgements and estimates have been made include:

p) Concessionary Loans

The entity considers the long term intercompany loans to be concessionary loans. The entity measures concessionary loans in the balance sheet based on the amounts paid. The carrying amount of concessionary loans in the financial statements are adjusted to reflect any accrued interest receivable. Interest is accrued at a rate of 2.2%. The terms of repayment are 25 years.

q) Financial Instruments Policy

Financial Instruments are initially measured at transaction price and subsequently held at cost, less impairment. Financial liabilities are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instruments legal form. Financial Liabilities are initially measured at transaction price (including transaction costs) and subsequently held at amortised cost.

25

Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

2 Income From Donations and Legacies

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |2024|2024|2024|2023|2023|2023| |£|£|£|£|£|£| |Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |Charitable Donations|175,246|290,726|465,972|48,876|420,199|469,075| |175,246|290,726|465,972|48,876|420,199|469,075| |3 Income From Charitable Activities| |Notes|2024|2024|2024|2023|2023|2023| |£|£|£|£|£|£| |Restated|Restated| |Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |Box Office| |Income|21|239,317|11,511|250,828|271,688|-|271,688| |Hall Hire by| |-|-| |Trinity Laban|300,860|300,860|319,554|319,554| |Management| |Fees|27,180|-|27,180|27,000|-|27,000| |Grants from| |-|-|-|-| |Trinity Laban|80,449|80,449| |Other Income|21|11,770|-|11,770|18,447|-|18,447| |659,576|11,511|671,087|636,689|-|636,689|

----- End of picture text -----

26

Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

4 Charity Statement of Financial Activities

Notes
Income From
Donations and Legacies
2
Charitable Activities
Operation of Blackheath Halls
Total Income
Expenditure on:
Raising Funds
7
Charitable Activities
Operation of Blackheath Halls
8
Total Expenditure
Net (Expenditure)/Income
Transfer Between Reserves
Net Movement in Funds
Reconciliation of Funds
Total Funds Brought Forward
Total Funds Carried Forward
Donation From Subsidiary Made Under
Deed of Covenant		 Unrestricted
Restricted
Total Funds
Total Funds
2024
2024
2024
2023
£
£
£
£
175,246
290,726
465,972
469,075
734,048
11,511
745,559
707,376
76,644
-
76,644
46,801
985,938
302,237
1,288,175
1,223,252
102,297
-
102,297
92,764

898,069
124,012
1,022,081
998,914
1,000,366
124,012
1,124,378
1,091,678
(14,428)
178,225
163,797
131,574
192,340
(192,340)
-
-
177,912
(14,115)
163,797
131,574
3,864,555
19,608
3,884,163
3,752,589
4,042,467
5,493
4,047,960
3,884,163

5. Income from Other trading activities

The wholly owned trading subsidiary, BCH Enterprises Limited ("BCH") is incorporated in the United Kingdom. The BCH company number is 02642177 and the registered office address is King Charles Court, Old Royal Naval College, Greenwich, London, SE10 9JF. BCH operates the bar and catering and organises all the commercial trading operations carried on at The Blackheath Halls. The charity owns the entire share capital comprising 2 ordinary shares of £1 each. BCH has adopted a policy of paying all taxable profits to its parent company Blackheath Halls by qualifying distribution under a deed of covenant.

27

Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

6 Summary Profit and Loss Account

Turnover
Cost of Sales and Administrative Expenses
Profit Before Taxation
Taxation
Profit/(Loss) After Taxation
Fixed Assets
Current Assets
Creditors: Amounts Falling Due Within One Year
Total Net Assets
Aggregate Share Capital and Reserves		 2024
2023
£
£
308,286
247,622
(230,469)
(202,287)
77,817
45,335
-

-
77,817
45,335
2024
2023
£
£
9,227
9,179
163,143
232,771
(163,310)
(234,063)
9,060
7,887
9,060
7,887

7 Expenditure on Raising Funds

Expenditure on Raising Funds
Staff Costs
Advertising
Printing, Postage and Stationery		 2024
2023
£
£
68,666
59,942
20,464
22,165
13,167
10,657
102,297
92,764

8 Expenditure on Charitable Activities - Operation of Blackheath Halls

Other Activities
Support Costs
Education &
Community -
Projects		 2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Unrestricted
Restricted
Total Unrestricted
Restricted
Total
296,001
-
296,001
295,515
-
295,515
446,253
124,012
570,265
397,727
120,047
517,774
155,815
-
155,815
185,625
-
185,625
898,069
124,012
1,022,081
878,867
120,047
998,914

28

Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

----- Start of picture text -----
Support Costs 2024 2023
£ £
House managers 15,968 13,866
Administration 124,916 128,187
Ushers 31,459 24,613
Management 89,643 74,009
Crew 12,643 10,817
Box Office 13,672 36,233
Audit Fees 7,700 7,790
296,001 295,515
----- End of picture text -----

Support costs are apportioned based on the number of staff employed in each activity and have been included as part of expenditure on charitable activities.

9 Expenditure on Charitable Activities - Other Trading Activities

----- Start of picture text -----
|||| |---|---|---| |This relates to BCH Enterprises Limited, the trading subsidiary|2024|2023| |£|£| |Staff Costs|86,539|72,686| |Bar and Catering Purchases|36,388|29,977| |Legal and Professional|8|338| |Audit Fees|4,700|4,718| |Repairs and Maintenance|741|3,236| |Sundry Expenses|25,822|17,809| |Depreciation|1,797|2,837| |155,995|131,601|

----- End of picture text -----

These costs have been classified as charitable as they support the charitable activities of the organisation.

10 Staff Costs

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |£|£| |Wages and Salaries|415,868|425,001| |Social Security|26,437|19,925| |Other Pension Costs|27,794|13,356| |470,099|458,282|

----- End of picture text -----

Remuneration of senior paid staff excluding employer's pension contributions

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |Number|Number| |£60,000 - £70,000|1|1|

----- End of picture text -----

29

Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

The average monthly number of employees during the year:

----- Start of picture text -----
Number Number
Administration 4 4
Box Office 2 5
Marketing and Fundraising 2 2
Crew & Ushers 3 3
House Management 2 1
Bar & Catering 1 1
Support 1 1
15 17
----- End of picture text -----

None of the trustees received any emoluments from the Charity during the year (2023 - £Nil).

There have been no expenses paid to or on behalf of the trustees in 2022 (2023 - £Nil).

Key management personnel

Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of Blackheath Halls. Staff costs includes remuneration paid to key management personnel. The key management personnel is the Director of Blackheath Halls.

----- Start of picture text -----
2024 2023
£ £
Remuneration 62,433 61,852
Pension Costs 12,135 12,156
74,568 74,008
----- End of picture text -----

30

Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS For the year ended 31 July 2024

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

11 Tangible Fixed Assets

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Fixtures,| |Freehold|Long|Fittings &|Assets in| |Land and|Leasehold|Leasehold|Kitchen|Course of|Musical| |Group|Buildings|Buildings|Improvements|Equipment|Construction|Instruments|Total| |£|£|£|£|£|£|£| |At 1 August 2023|1,270,245|1,413,005|3,278,301|337,069|445,961|20,828|6,765,409| |Additions|-|11,095|-|1,845|244,181|-|257,121| |Transfers|-|682,733|-|7,409|(690,142)|-|-| |At 31 July 2024|1,270,245|2,106,833|3,278,301|346,323|-|20,828|7,022,530| |Depreciation| |-| |At 1 August 2023|50,000|75,248|793,735|332,885|17,074|1,268,942| |Charge for year|5,905|19,950|156,684|3,942|-|1,252|187,733| |At 31 July 2024|55,905|95,198|950,419|336,827|-|18,326|1,456,675| |Net Book Value| |At 31 July 2024|1,214,340|2,011,635|2,327,882|9,496|-|2,502|5,565,855| |At 31 July 2023|1,220,245|1,337,757|2,484,566|4,184|445,961|3,754|5,496,467|

----- End of picture text -----

The long leasehold buildings comprise the fabric of the halls with the freehold land and buildings comprising of the substation and the surrounding land.

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Fixtures,| |Freehold|Long|Fittings &|Assets in| |Land and|Leasehold|Leasehold|Kitchen|Course of|Musical| |Charity|Buildings|Buildings|Improvements|Equipment|Construction|Instruments|Total| |£|£|£|£|£|£|£| |At 1 August 2023|1,270,245|1,413,005|3,267,029|315,900|445,961|20,828|6,732,968| |Additions|-|11,095|-|-|244,181|-|255,276| |Transfers|-|682,733|-|7,409|(690,142)|-|-| |At 31 July 2024|1,270,245|2,106,833|3,267,029|323,309|-|20,828|6,988,244| |Depreciation| |-| |At 1 August 2023|50,000|75,248|790,823|312,540|17,074|1,245,685| |Charge for year|5,905|19,950|155,557|3,272|-|1,252|185,936| |At 31 July 2024|55,905|95,198|946,380|315,812|-|18,326|1,431,621| |Net Book Value| |At 31 July 2024|1,214,340|2,011,635|2,320,649|7,497|-|2,502|5,556,623| |At 31 July 2023|1,220,245|1,337,757|2,476,206|3,360|445,961|3,754|5,487,283|

----- End of picture text -----

31

Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

12 Debtors

----- Start of picture text -----
|||||| |---|---|---|---|---| |Group|Group|Charity|Charity| |2024|2023|2024|2023| |£|£|£|£| |Trade Debtors|65,878|21,701|22,355|7,616| |Other Debtors|12,766|-|12,766|-| |Prepayments and Accrued Income|18,493|87,658|18,213|85,164| |Due from Subsidiary Company|-|-|-|107,013| |97,137|109,359|53,334|199,793|

----- End of picture text -----

13 Creditors: Amounts Falling Due Within One Year

----- Start of picture text -----
|||||| |---|---|---|---|---| |Group|Group|Charity|Charity| |2024|2023|2024|2023| |£|£|£|£| |Due to Parent and Subsidiary Companies|673,536|585,436|595,035|494,450| |Trade Creditors|21,256|72,672|19,245|67,132| |Other Creditors|89|473|100|485| |Taxation and Social Security|1,666|6,783|1,666|6,783| |Accruals and Deferred Income|152,753|252,007|69,955|221,482| |849,300|917,371|686,001|790,332|

----- End of picture text -----

Deferred Income

Included within accruals and deferred income are the following items of income which have been deferred until specific performance related conditions have been met.

----- Start of picture text -----
|||||| |---|---|---|---|---| |Group|Group|Charity|Charity| |2024|2023|2024|2023| |£|£|£|£| |Balance Brought Forward|58,281|35,901|40,704|18,415| |Income Released in Year|(58,281)|(35,901)|(40,704)|(18,415)| |Ticket Sales for Future Events|82,978|58,281|32,028|40,704| |Balance Carried Forward|82,978|58,281|32,028|40,704| |Creditors: Amounts Falling Due After More Than One Year| |Group|Group|Charity|Charity| |2024|2023|2024|2023| |£|£|£|£| |Long Term Interest Free Intercompany Loan|560,000|560,000|560,000|560,000| |Long Term Intercompany Loan|457,255|488,505|457,255|488,505| |Debenture|250|250|250|250| |1,017,505|1,048,755|1,017,505|1,048,755|

----- End of picture text -----

14 Creditors: Amounts Falling Due After More Than One Year

This is a long term interest free intercompany loan extended from Trinity Laban Conservatoire of Music and Dance. The long term intercompany loan was for the refurbishment of the Great hall in Blackheath Halls. Interest on the long term intercompany loan is accrued at the rate of 2.2% per annum. The loan is for a period of 25 years commencing on 31 July 2019.

32

Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

15 Reserves

a) Group

At 1 August 2022
Incoming Resources for Year
Outgoing Resources for Year
Transfer Between Reserves
At 1 August 2023
Incoming Resources for Year
Outgoing Resources for Year
Transfer Between Reserves
At 31 July 2024
Charity
At 1 August 2022
Incoming Resources for Year
Outgoing Resources for Year
Transfer Between Reserves
At 1 August 2023
Incoming Resources for Year
Outgoing Resources for Year
Transfer Between Reserves
At 31 July 2024		 Unrestricted
Funds
Revaluation
Reserve
Restricted
Funds
Total
Restricted
Funds
Total
£
£
£
£
£
£
2,406,008
1,334,977
3,740,985
20,970
20,970
3,761,955

933,187
-
933,187
420,199
420,199
1,353,386
(1,103,232)
-
(1,103,232)
(120,047)
(120,047)
(1,223,279)
309,806
(8,292)
301,514
(301,514)
(301,514)
-
Total
Unrestricted
Funds
2,545,769
1,326,685
3,872,454
19,608
19,608
3,892,062

1,143,108
-
1,143,108
302,237
302,237
1,445,345
(1,156,361)
-
(1,156,361)
(124,012)
(124,012)
(1,280,373)
200,632
(8,292)
192,340
(192,340)
(192,340)
-
2,733,148
1,318,393
4,051,541
5,493
5,493
4,057,034
Unrestricted
Funds
Revaluation
Reserve
Restricted
Funds
Total
Restricted
Funds
Total
£
£
£
£
£
£
2,396,642
1,334,977
3,731,619
20,970
20,970
3,752,589

803,053
-
803,053
420,199
420,199
1,223,252
(971,631)
-
(971,631)
(120,047)
(120,047)
(1,091,678)
309,806
(8,292)
301,514
(301,514)
(301,514)
-
Total
Unrestricted
Funds
2,537,870
1,326,685
3,864,555
19,608
19,608
3,884,163

985,938
-
985,938
302,237
302,237
1,288,175
(1,000,366)
-
(1,000,366)
(124,012)
(124,012)
(1,124,378)
200,632
(8,292)
192,340
(192,340)
(192,340)
-
2,724,074
1,318,393
4,042,467
5,493
5,493
4,047,960

b) Charity

**16 ** Group and Charity Restricted Funds Transfer
from
At 1 August Unrestricted At 31 July
2023 Income Expenditure Reserves 2024
£ £ £ £ £
Restricted Donations 19,608 302,237 (124,012) (192,340) 5,493
Restricted Capital Grants - 0 - - -
Total Restricted Funds 19,608 302,237 (124,012) (192,340) 5,493

33

Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

17 Analysis of Total Group Funds

Tangible Fixed Assets
Current Assets
Current Liabilities
Long Term Liabilities
Total Funds 2023
Tangible Fixed Assets
Current Assets
Current Liabilities
Long Term Liabilities
Total Funds 2024		 Unrestricted
Funds
Restated
Revaluation
Reserve
Restricted
Funds
Total
Restated
2023
2023
2023
2023
£
£
£
£
4,169,782
1,326,685
-

5,496,467
342,113
-
19,608
361,721
(917,371)
-
-

(917,371)
(1,048,755)
-
-

(1,048,755)
2,545,769
1,326,685
19,608
3,892,062
Unrestricted
Funds
Revaluation
Reserve
Restricted
Funds
Total
2024
2024
2024
2024
£
£
£
£
4,247,462
1,318,393
-
5,565,855
352,491
-
5,493
357,984
(849,300)
-
-

(849,300)
(1,017,505)
-
-
(1,017,505)
2,733,148
1,318,393

5,493
4,057,034

Restricted donations are made by the Arts Council for the provision of education and community projects. Restricted donations have also been received to fund various capital projects e.g. landscaping works, stage lift.

18 Capital Commitments

Contracted For But Not Provided Group
Group
Charity
Charity
2024
2023
2024
2023
£
£
£
£
-
219,093
-
219,093

19. Company limited by Guarantee

The limit of the total guarantees of the member of the Charity amounted to £1 at 31 July 2024 (2023– £1).

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Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

20. Related party transactions

Blackheath Halls had transactions with the following related parties during the year. The charity trustees had an interest in, or influence over these entities.

----- Start of picture text -----
(Expenditure)/ Debtor/(Creditor)
Income Balance
Trustee/ Nature of Restated
Related Party Director Relationship 2024 2023 2024 2023
£ £ £ £
Hearn Foundation Peter Hearn Trustee 210,830 305,733 - -
Dame Joan Ruddock 3,427 - - -
Lewisham Music Dame Joan Trustee/ 22,012 - - -
Ruddock Chair
- - -
Ailish Tynan (100)
Anthony Bowne 250 - - -
Francesca Robinson 5,000 - - -
----- End of picture text -----

21. Prior Period Adjustments

VAT reclaimed on fixed assets had previously been credited to operational expenditure instead of against the relevant fixed assets. Thus, a prior period adjustment was made in the financial statements to correct this.

to correct this.
As reported Restated
Charity Adjustment Charity
2023 2023
£ £ £
Tangible Assets 6,785,149 (52,181) 6,732,968
As reported Restated
Group Adjustment Group
2023 2023
£ £ £
Tangible Assets 6,817,590 (52,181) 6,765,409

In note 3, certain types of income have been reclassified from Box Office Income to Other Income.

As reported Adjustment Restated
2023 2023
£ £ £
Box Office Income 289,278 (17,590) 271,688
Other Income 857 17,590 18,447

In note 20, income received from the Hearn Foundation has been restated to include an amount that had been accrued at year end but not yet received.

35

Docusign Envelope ID: 4386A99A-F161-4A51-89DF-1DD0E16FE7A8

THE BLACKHEATH HALLS

For the year ended 31 July 2024

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

As reported Adjustment Restated 2023 2023 £ £ £ Hearn Foundation Income 225,078 80,655 305,733

22. Ultimate controlling party

The Charity is a wholly owned subsidiary of Trinity Laban Conservatoire of Music and Dance, a company registered in England and Wales and a registered charity. Trinity Laban’s charitable purposes as set out in its Memorandum of Association are to advance the art and science of music, dance and associated art forms generally for the public benefit and to improve the professional and technical education of music, dance and other students. The Board of Trinity Laban Conservatoire of Music and Dance has the power to appoint and remove the majority of Trustees from the board of the Blackheath Halls. Trinity Laban Conservatoire of Music and Dance registered office and company and charity number are as detailed below. Consolidated accounts for the group of which Blackheath Halls is a subsidiary can also be obtained here:

Trinity Laban King Charles Court Old Royal Naval College King William Walk London SE10 9JF Company No: 51090, Charity No: 309998

36