Docusign Envelope ID EE3ED746-A779-483B-9505-9C826BEFA747
Financial Statements
2024-25
BLACKHEATH HALLS
A registered Charity and Company Limited by Guarantee
Company Registration No. 01745553
Charity No. 287589

Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

COMPANY INFORMATION FOR THE YEAR ENDED 31 JULY 2025 ……………………….…………………………….2 TRUSTEES’ REPORT………………………………………………………………………………………………………………………3–15 INDEPENDENT AUDITOR’S REPORT TO MEMBERS AND TRUSTEES OF THE BLACKHEATH HALLS….16–20 CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES……………………………………………………………….…..21 CONSOLIDATED AND CHARITY BALANCE SHEETS…………………………………………….……………………………….22 NOTES TO THE FINANCIAL STATEMENTS……………………………………………………………………………….……23–36 

Cover image: Blackheath Halls Gospel 2024 ©Jemima Yong 

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Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

COMPANY INFORMATION FOR THE YEAR ENDED 31 JULY 2025 

|**Trustees**|Professor Anthony Bowne (Chair)|
|---|---|
||Dr Aleksander Szram|
||Peter Hearn|
||Dr Ji Liu|
||Jonathan Peel MBE|
||Ralph Sanders|
||Francesca Robinson (Deputy Chair)|
||Ailish Tynan|
|**Director of Blackheath Halls**|Gemma Okell|
|**Secretary**|Dean Surtees|
|**Company Number**|01747753|
|**Charity Number**|287589|
|**Registered Office**|Trinity Laban|
||King Charles Court|
||Old Royal Naval College|
||King Willam Walk|
||London|
||SE10 9JF|
|**Independent Auditor**|Grant Thornton UK LLP|
||17thFloor|
||103 Colmore Row|
||Birmingham|
||B3 3AG|
|**Bankers**|Lloyds Bank|
||PO Box 1000|
||Andover|
||BX1 1LT|



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Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## TRUSTEES’ REPORT 

The directors, who are also trustees of The Blackheath Halls (BHH), present their report and the audited financial statements of the Charity for the year ended 31 July 2025. 

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 2025, confirm that they have complied with the duty of the Charity Commission Guidance to have due regard to the general guidance on public benefit. 

## **Directors’ indemnities and liability insurance** 

Trinity Laban, the parent company, maintains employers’ liability and professional indemnity insurance for its Directors and Officers. These indemnities are capped at £5,000,000 for any one claim and in the aggregate except for pollution where cover is limited to £1,000,000 in the aggregate and are in relation to certain losses and liabilities which they may incur to third parties in the course of acting as a Director or Officer of the Company or any of its associated companies. Neither the indemnity, nor insurance cover provides cover in the event a Director or Officer is proved to have acted fraudulently or dishonestly. The indemnity is categorised as a ‘qualifying third-party indemnity’ for the purposes of the Companies Act 2006 and was in place during the 2024-25 financial year and will continue in force for the benefit of Directors and Officers on an ongoing basis. 

## **Objectives and Activities** 

The Blackheath Halls is a registered Charity focusing on advancing education by the encouragement of music and the arts. 

Blackheath Halls is run as a venue for the performing arts, offering public benefit through its programme of activities providing: 

- A varied and high-quality year-round programme of **professional performances** including music, children’s theatre, comedy and literary events 

- A wide-ranging **Community Engagement Programme** offering creative opportunities for people of all ages and abilities, including workshops, taster sessions and community performances 

- The primary **venue for Trinity Laban Conservatoire of Music and Dance (Trinity Laban)** music students’ rehearsals and performances 

- **Facilities for hire** by local and national arts and community organisations and individuals for rehearsals, performances and private hires 

In addition, Blackheath Halls is committed to maintaining and enhancing the venue as a Grade 2 listed building, ensuring it remains relevant and equipped as a centre for the delivery of the arts, whilst respecting its heritage status. 

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. 

The organisation’s Strategic Plan 2024 – 2029 outlines our current ambitions, focusing on making the most of facilities that have been improved through capital investment over the past ten years, increasing and diversifying audiences and offering a programme and experience of the highest standard to everyone who visits BHH. 

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

- 1) Maintain a balanced, ambitious and artistically excellent programme 

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Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## TRUSTEES’ REPORT (CONTINUED) 

- 2) Increase and broaden our audiences, participants, artists, supporters and partners 

- 3) Build a stronger identity and profile 

- 4) Achieve financial stability 

## **Achievements and Performance** 

## **Events and Attendance Figures** 

|**Achievements and Performance**<br>**Events and Attendance Figures**|||
|---|---|---|
|**Live Performances, rehearsals and other activities**|**991**|**Nearly three a day**|
|**Attendance at live events**|**61,776**|**Another record for Blackheath Halls**|
|**Active community engagementparticipants**|**1,895**|**Of all ages and backgrounds**|
|**Online engagement**|**7,100**|**Worldwide**|



In 2024/25, Blackheath Halls had the pleasure of welcoming 61,776 people to 991 live performances, rehearsals and other activities. 

This included 175 performances (the majority of which were programmed directly by Blackheath Halls or Trinity Laban) with ticketed audiences of 31,696, and 216 participatory sessions run at Blackheath Halls, schools and other local venues as part of our Community Engagement programme, engaging 1,895 active participants of all ages and backgrounds. 

All of these figures are increases on the already high level of activity which took place in 2023/24, thanks to careful scheduling of events and growing relationships with audiences and hirers. A second year of Big Give/Childhood Trust funded activity enabled us to offer more sessions specifically aimed at young people, resulting in a doubling of young people engaged this year compared with last. 

Another 7,100 people viewed online content previously created by Blackheath Halls, the only area of decreased engagement in the year, as we have not generated new content as we have been focusing on live events. Overall, a total of 68,876 people engaged with the arts through the organisation. 

## **Programme Highlights** 

Highlights of the **professional performance** programme included: 

- Music from Kathryn Tickell and the Darkening, Taiko Meantime, _Lady Nade Sings Nina Simone,_ and a busy chamber music programme including Trio Shaham-Erez-Wallfisch and Beatrice Nicholas’ _The American Piano_ with works by John Adams, Betty Jackson King and Connor Chee 

- Wide-ranging talks including Joan Smith’s retelling of the history of women in Ancient Rome, Gordon Buchanan’s experiences filming the natural world, Lisa Smith and Katherine Faulkner talking about South London fiction, and Anne Sebba on _The Women’s Orchestra of Auschwitz_ 

- Comedy with Lucy Porter, Ivo Graham, Daliso Chaponda, Ed Byrne, Shaparak Khorsandi and Josh Widdicombe 

- Our first relaxed family performances of _The Gruffalo_ and _The Elmer Adventure, and_ collaborating with Tall Stories on a quilt making family workshop alongside Elmer, targeting first time audiences 

- Friends events including Diwali celebrations featuring performances by Ranjana Ghatak, Kirpal Panesar and Harkiret Singh Bahra, and Bhangra Dance London 

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Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## TRUSTEES’ REPORT (CONTINUED) 


_The Elmer Adventure_ Family Workshop April 2025 ©Tall Stories 

- _‘Overall Show Rating: 5/5 Venue: 5/5 Sound: 5/5 Staging: 5/5 Performance: 5/5 Brilliant night out. Justin Moorhouse is very funny would highly recommend. Blackheath Halls is a lovely local venue with great transport links. Reasonable priced bar & snacks. Helpful staff.’_ **Audience Member** 

   - _‘Thank you for inviting me to do the narrating! I really enjoyed the whole process - more than I_ 

   - _expected. It was great fun and on a personal level I felt more connected to my grandfather than I have before really - and performing in a room filled with my dad’s artwork - with my two sons_ 

   - _present - felt extra special!’_ **Beatrice Prokofiev, Prokofiev’s granddaughter and narrator of The Blaze Ensemble’s chamber version of** _**Peter and the Wolf**_ 

## Highlights of the **Community Engagement Programme** included **:** 

- Blackheath Halls Opera 2024 _Cavalleria rusticana_ , with 144 participants of all ages and backgrounds taking part in six fully staged performances, plus taster sessions for 2025’s _Iphigenia in Tauris_ 

- Blackheath Halls Orchestra’s performance of Holst’s _The Planets_ and _The Needles_ by Matthew Taylor (who runs the weekly Music Appreciation group) to mark his 60[th] Birthday, plus an afternoon family performance hosted by Aga Serugo-Lugo 

- A substantial increase in young people’s engagement thanks to an intensive Big Give supported programme with schools that have a high level of students eligible for Pupil Premium and/or less music provision. This included visits to Turnham Academy School, Brockley (working on compositions inspired by _The Planets_ ) and Brindishe Green School (in preparation for a major schools gospel concert at Blackheath Halls) 

- Young Musicians Day, engaging 50 young people in workshops including songwriting, drumming, musical theatre, steel pans and opera, and a panel about careers in music 

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Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## TRUSTEES’ REPORT (CONTINUED) 

- A project to foster more of a culture of men's singing, led by Zeshaan Shain, who has previously been a Blackheath Halls Youth Choir trainee leader 


Young Musicians Day Drumming workshop 2025 ©Jemima Yong 

_‘I attended the recent taster session and absolutely loved it - the atmosphere was welcoming, the teaching was fantastic, and the enthusiasm of the staff was truly infectious. It made me feel that even as a complete beginner, I could be part of something exciting and meaningful. I’m eager to learn more’_ **Opera taster session participant** 

_‘This is a very important part of my social and cultural year. It is a chance to enjoy from inside some of the most beautiful music ever written, to be part of a diverse group of people working towards an inspiring goal. It’s just wonderful!’_ **Regular opera participant** 

Highlights of **Trinity Laban’s** programme included: 

- An upbeat start to the autumn term with three bands in _Sounds from West Africa_ 

- A Symphony Orchestra concert with The Dvořák Society for Czech and Slovak Music with a fascinating programme of music rarely performed in the UK 

- Bruno Heinen’s ‘Out of Doors and Into Space’ (UK Jazz News review here) 

- Awaaz: Sounds from South Asia with A.R. Rahman, Trinity Laban’s new Honorary President, and Soumik Datta present to hear their own works performed 

- Seven very intensive days of performances by BA Music Performance and Industry students 

- Two fully staged productions; _Grease_ and Monteverdi’s _Il Ritorno d’Ulisse in Patria_ 

- Three informal post-show Jazz in the Bar sessions with acoustic student bands 

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Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## TRUSTEES’ REPORT (CONTINUED) 


Trinity Laban Opera 25: Il ritorno d'Ulisse in patria ©Megan lp 

Highlights of the **external hires** programme included: 

- The first rehearsal here by Chineke! Orchestra (including open rehearsals for local schools) and English National Opera rehearsing for their production of Thea Musgrave’s _Mary, Queen of Scots_ at the Coliseum 

- A recording with the Simón Bolívar Orchestra and Gustavo Dudamel (with an enormous orchestra and percussion section, which we were able to accommodate in the Great Hall thanks to the new stage lift making onstage storage possible) 

- Wide ranging music performances including Peter Doherty, UK Soul Choirs, and New Sussex Opera’s UK premiere tour of Saint-Saëns’ _The Silver Bell_ 

- Performances by hundreds of local young people as part of events with Greenwich Music Hub and Lewisham Music 

_‘I am so grateful for your excellent service on our Awards Evening. It was an unforgettable night enjoyed by all of my team, and your outstanding service played a pivotal role in making it a success.’_ **Hirer for private event** 

_‘I just wanted to say thank you so much to you and all the staff at Blackheath halls who helped ensure mum’s celebration of life afternoon went ahead without an issue. All the staff were so caring, understanding, helpful and efficient. Please pass on our thanks and gratitude. Everyone commented on what a lovely venue it was and a very fitting tribute’_ **Hirer for private event** 

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Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## TRUSTEES’ REPORT (CONTINUED) 

## **Other developments and achievements** 

Our overarching focus has been on making the most of facilities that have been improved through capital investment over the past ten years, increasing and diversifying audiences and offering a programme and experience of the highest standard to everyone who visits BHH. 

A permanent staff Away Day took place in August to discuss Strategic Plan actions for the year and draft KPIs, which were subsequently approved by the Board, and have steered our work this year. We have reached or exceeded target in eight of our 11 ambitious Key Performance Indicators, with achievements including an increase in audience numbers, hires income, and Global Majority artists, participants and audiences. 

We have also managed to increase the number of events happening outside Blackheath Halls, at schools and other venues, and immediately outside the building. We continue to receive positive comments about the improvements to the landscaping and planting at the front of the building funded last year by the Hearn Foundation, which has also encouraged passersby to come in to find out more about the organisation, and sign up to the e-mailing list. 

Trinity Laban changed their artistic leadership structure this year, fully integrating the Dance, Music and Musical Theatre departments for the first time. Paired with a rebrand highlighting the unique qualities of TL, new partnerships, a new Honorary President, and a focus on public facing activities, this has had a positive impact on the programme at Blackheath Halls. Additionally, we made the transition from Artifax to Celcat as our main diary system during the year, bringing us in line with other Trinity Laban spaces. 

We have continued regular meetings of our Development Committee chaired by Trustee Francesca Robinson who have advised on all areas of fundraising strategy. We have largely retained our existing donor base and Platinum Patrons, and reached some new Friends and Patrons, whose contributions all support our community engagement activity. For the opera we additionally secured a sponsorship package with Grant Saw Solicitors, Rectory Court and Leah Lodge for the Gala Night, and with Judge & Priestley for Opera opening night reception. We successfully applied for Arts Council England funding for the first time in several years, which has enabled us to commission a new translation of our 2025 opera _Iphigenia in Tauris,_ as well as run additional taster session for the adult and youth companies. 


Opera Gala Night May 2025 

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Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## TRUSTEES’ REPORT (CONTINUED) 

A special pre-Christmas event launched our Big Give campaign, including a short performance by the youth choir seniors and Ailish Tynan, conducted by Trinity Laban student and youth choir trainee Dorothy Whyte-Venables. A brass quintet performed as Friends and donors arrived, under the impressive Christmas tree kindly donated by The Hearn Foundation, making the most of our newly developed outdoor space. We exceeded our £30k target (compared with £20k last year) for work with young people, with thanks to The Childhood Trust, The Smillie Family Trust, The Peter and Teresa Harris Charitable Trust and over 100 generous donors. 



Youth Choir singing at Big Give Launch 2024 Brass ensemble playing Big Give Launch 2024 

We receive no core funding from Arts Council England or our local authorities, so we are particularly grateful for the essential support of various trusts and foundations this year. These include The Hearn Foundation, Arts Council England Lottery Grants, The Samuel Gardner Memorial Trust, The Peter and Teresa Harris Charitable Trust, The Smillie Family Trust, Lucille Graham Trust, The Radcliffe Trust, The Childhood Trust and local Greenwich Ward councillors. 

As outlined in the Community Engagement Programme section above, we have been putting those funds to good use, more than doubling the number of young people we have reached in the year, as well as increasing participation substantially by hard to reach groups, those on pupil premium, those who receive little or no music provision at school, and those from Global Majority backgrounds. 

We are developing our theory of change to better evidence the impact of our Community Engagement programme, and its three main social objectives: 

- Improved wellbeing and mental health 

- Community cohesion 

- Skills development (soft skills, and music skills) 

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Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## TRUSTEES’ REPORT (CONTINUED) 

We have worked with the permanent staff team, front of house staff EDI group and Black Lives in Music to make progress on our EDI plan this year. Improvements include offering more and better access seats, joining the Nimbus scheme enabling audience members with disabilities to book online for the first time, hosting our first relaxed performances, and creating a Visual Guide to Blackheath Halls, in consultation with specialist schools teachers and parents. 

We continue to implement Theatre Green Book guidance for opera productions, and are continuing the process of replacing lighting throughout the building to LEDs. 

_“I would say it was our most professional yet – and many on my tables thought it was the best on every level. Certainly the food was up a notch from the usual fare too. How wonderful to sit in the Hall being entertained at the highest level, surrounded by enthusiastic friends and community. It’s hard to beat and a brilliant achievement.”_ _**Opera Gala Night attender**_ 


Blackheath Halls Opera 2024 _Cavalleria Rusticana_ ©Craig Fuller 

## **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, Patrons and Platinum 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. 

We were fortunate to be able to present Matthew Rose and the Cuddigan Oliver Trust’s memorable event in December, in recognition of the importance of Sir Stephen Oliver to the organisation. We have since sadly lost two other individuals who have contributed greatly to Blackheath Halls over many years - Tom Butler and Richard Dinkeldein. Tom programmed lunchtime concerts and championed up and coming musicians here for over 20 years. Richard was Treasurer of the Friends 

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Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## TRUSTEES’ REPORT (CONTINUED) 

of Blackheath Halls when they were a stand-alone organisation, programmed wine tasting events and coordinated Blackheath Art Society’s annual exhibition. We are incredibly grateful for their invaluable contributions, and will miss them very much. 

## **Financial Review** 

At the end of the 2024/25 financial year, the Halls generated a deficit of £(145,252) compared to an overall surplus of £164,792 in the previous year. 

This was better than originally budgeted, thanks to increased ticket sales and strong hirings income. 

Although turnover at the bar was higher than anticipated, there was a slight reduction in overall contribution, largely due to increased staff costs in line with minimum and living wage levels, and rapid inflation on material costs. 

Community Engagement income against expenditure was down on budget, this is partly a timing issue, due to Arts Council funding received and largely spent in 2024/25, but not showing in this year’s accounts as the opera production itself does not take place until September. 

We had to pay an unbudgeted outstanding amount as the final payment for 2023/24’s landscaping project. 

We also received two major legacy donations in 2023/24, resulting in a substantial surplus last year that has not been duplicated this year. 

With a new Finance Officer having been in post since March 2024 we have been able to keep a much tighter grip on debtors and creditors this year, with associated improvements to our cash reserves. 

## **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 reserves of £2,601,681 (2023/24: £2,733,148). 

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 shortterm 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 2024/25 the equivalent of three months’ expenditure equated to £310,350 whereas cash stood at £370,820 at 31 July 2025, which is slightly higher than our policy requires. We envisage additional essential cash investment in the building infrastructure in 2025/26. 

## **Risk management** 

The major risk exposures are as follows: 

- Failure to achieve income targets, for external hires, performance and bar sales, due to issues such as the impact of inflation and increased cost of living and the perceived attractiveness of our events and venue. This is managed by maintaining good relationships with existing hirers and audiences, as well as new audience development, website, social media and programming initiatives. Pricing structures and performance are monitored closely throughout the year. 

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Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## TRUSTEES’ REPORT (CONTINUED) 

- Failure to manage costs, due to inflation and disruption to supply chains having an impact on maintenance plans. Actions to mitigate this include scrutiny of monthly management accounts and a relatively short-term planning cycle meaning that alterations can be made to our programme. 

- Failure to achieve fundraising targets including for community engagement projects. This is managed by past successes resulting in existing relationships with funders, scalability of projects, and the ongoing growth of the Friends and Patrons scheme. 

- Loss of (and/or failure to recruit) key staff positions including due to uncompetitive salaries, resulting in reduced ability to operate the building effectively, as well as failure to recruit staff who reflect the diversity of our local boroughs. This is particularly pertinent after a period of stability across the permanent staff team, and the upcoming retirement of our longstanding Community Engagement Manager. This is managed to by improving our recruitment processes and practices, the training and support we offer, consulting with other external organisations, and working in partnership. 

- Major damage to the building or facilities, resulting in the inability to operate. This is managed by business continuity plans and ongoing maintenance and repairs as far as possible. 

## **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 2025-26 and for 2026-27. These project operating deficits in each year, but a net cash inflow in both 2025-26 and 2026-27. Excluding the revaluation reserve, currently there are unrestricted reserves of £2,601,681 (2023-24: £2,733,148). 

## **Future Strategy** 

We have now completed our first full year of our current Strategic Plan 2024-2029, approved in March 2024. This focuses on making the most of our new facilities, offering a programme and experience of the highest standard to everyone who visits BHH. 

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

- 1) Maintain a balanced, ambitious and artistically excellent programme 

- 2) Increase and broaden our audiences, participants, artists, supporters and partners 

- 3) Build a stronger identity and profile 

- 4) Achieve financial stability 

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

Areas where we have made progress over the past year include: 

- Carefully monitor the balance of activity to ensure we are delivering our vision, satisfying stakeholders, and balancing budgets 

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Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## TRUSTEES’ REPORT (CONTINUED) 

- Continue to offer a year-round professional programme of at least 75 performances in music, family theatre, spoken word and comedy 

- Work with TL to prioritize large scale public facing performance activity over assessments and rehearsals 

- Continue to focus marketing budget on reaching new audiences through social media, advertising and reciprocal partnerships over producing expensive print for existing audiences 

- Continue to work with Development Group to reach wider range of Friends/Patrons, and ensure that activities planned and content of newsletters caters for broader and younger tastes and interests 

- Improve website copy and comms to ensure welcoming language and images used 

- Work with Black Lives in Music to improve the diversity of the organisation, increasing global majority and disabled artist, audience, workshop leader and participant percentages 

- Ensure suitable maintenance of newly enhanced building, including increase of repair budget, cleaning and repainting schedule, contract to maintain garden planting 

- Revise SLA with TL, setting maximum annual usage and confirming booking and cancellation policies, to maximise space for income generating external hires to fund capital expenditure requirements over the period of this plan 

- Improve sustainability and reduce costs through use of the Theatre Green Book 

Next year we will continue to make progress on these areas, and additionally start to make progress in the following areas: 

- Initiate new relationships with potential professional performance hirers, to increase our public offer 

- Work with ticketing agencies and partner organisations to reach new audiences, and ensure the return of those who come to occasional events 

- Work with the Development Group to offer a balance of continuing and new initiatives for special events (such as Diwali, Burns Night, Lunar New Year) 

- Retain and build pool of Platinum Patrons through personalised approaches and targeted events 

- Annual review of balance of usage and hire charges to ensure facilities remain competitive 

- Instigate legacy campaign (possibly establishing legacy circle) 

We are also giving further consideration to the long-term sustainability of the organisation, including ensuring our current estate continues to be fit for purpose, and whether there is an opportunity for expansion to deal with the over-demand on our spaces at popular times, and to generate further earned income from hires. 

## **Structure, Governance and Management** 

## **Governing Document** 

The Blackheath Halls is a company limited by guarantee governed by its 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. 

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Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## TRUSTEES’ REPORT (CONTINUED) 

## **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: 

- 1) Dispensing with laying of accounts and reports before general meeting. 

- 2) Dispensing with the holding of an annual general meeting. 

- 3) Dispensing with the annual appointment of the auditor. 

## **Appointment of Trustees/Directors** 

As set out in Articles of Association, there are eight trustees of the Blackheath Halls, five 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: 

- a) the Hearn Foundation; and/or 

- b) nominated by the Hearn Foundation. 

This was amended in 2023 to allow for an extra trustee nominated by Trinity Laban. 

As of 31 July 2025, 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: 

- 1) their role and responsibilities and legal obligations under charity and company law; 

- 2) the content of the Articles of Association and relationship with Trinity Laban (the parent undertaking); and 

- 3) the business plan and recent financial performance of Blackheath Halls. 

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. 

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Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## TRUSTEES’ REPORT (CONTINUED) 

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: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP (FRS102); 

- make judgements and accounting estimates that are reasonable and prudent; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable group will continue in business. 

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: 

- so far as each Trustee is aware, there is no relevant audit information of which the charitable company’s auditor is unaware; and 

- the Trustees have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that the charitable company’s auditor is aware of that information. 

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 

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Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## 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 2025, 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: 

- give a true and fair view of the state of the group’s and parent charitable company's affairs as at 31 July 2025 and of the group’s and the parent charitable company’s incoming resources and application of resources including, the group’s and the parent income and expenditure for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Statement of Recommended Practice: Accounting and Reporting by Charities, 2019 Edition; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **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 macroeconomic uncertainties such as increasing inflation and geopolitical 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: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

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: 

- the information given in the Strategic Report and the Trustees report, prepared for the purposes of company law, included in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements. 

- the Strategic Report and the Trustees Report included in the Trustees' Report have been prepared in accordance with applicable legal requirements. 

## **Matter 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: 

- adequate accounting records have not been kept by the parent charitable company, or 

17 



Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

**THE BLACKHEATH HALLS** For the year ended 31 July 2025 

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

- returns adequate for our audit have not been received from branches not visited by us; or 

- the parent charitable company’s financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit. 

## **Responsibilities of trustees** 

As explained more fully in the Trustees' Responsibilities Statement set out on page 12, 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: 

- We obtained an understanding of the legal and regulatory frameworks that are applicable to the group and parent charitable company and the sector in which it operates. We determined the following laws and regulations were most significant: the Charities SORP (FRS 102), The Financial Reporting Standards applicable in the UK and the Republic of Ireland (FRS 102), Charities Act 2011, Charities (Accounts and Reports) Regulations 2008 and the Companies Act 2006; 

- We understood how the group is complying with these legal and regulatory frameworks by making inquiries of management and those charged with governance. We enquired of management and those charged with governance whether there were any instances of noncompliance with laws and regulations, or whether they had any knowledge of actual or suspected fraud. We corroborated the results of our enquiries through our review of board and other minutes and through our legal and professional expenses review; 

18 



Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

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

   - We assessed the susceptibility of the group’s financial statements to material misstatement, including how fraud might occur and the risk of material override of controls. Audit procedures performed by the engagement team included: 

   - Identifying and assessing the design effectiveness of certain controls management has in place to prevent and detect fraud 

   - Challenging assumptions and judgements made by management in its significant accounting policies 

   - Identifying and testing journal entries, with a focus on unusual journals with specific risk characteristics and large value journals. 

   - Identifying and testing related party transactions 

   - Inspecting the board and other committee minutes 

   - Assessing the extent of compliance with the relevant laws and regulations as part of our procedures on the related financial statement item 

- These audit procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error and detecting irregularities that result from fraud is inherently more difficult than detecting those that result from error, as fraud may involve collusion, deliberate concealment, forgery or intentional misrepresentations. Also, the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we would become aware of it; 

- Assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagement team's: 

   - understanding of, and practical experience with audit engagements of a similar nature and complexity through appropriate training and participation 

   - knowledge of the charity sector 

   - understanding of the legal and regulatory requirements specific to the group including: 

   - the provisions of the applicable legislation 

   - guidance issued by the Charities Commission. 

- The team communications in respect of potential non-compliance with relevant laws and regulations included the potential for fraud in revenue through manipulation of income and management override of controls; and 

- In assessing the potential risks of material misstatement, we obtained an understanding of: 

   - the group’s operations, including the nature of its income and expenditure and its services and of its objectives and strategies to understand the classes of transactions, account balances, expected financial statement disclosures and business risks that may result in risks of material misstatement. 

   - the group's control environment, including: 

   - the policies and procedures implemented by the charitable company to ensure compliance with the requirements of the financial reporting framework and relevant laws and regulations 

19 



Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

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

- the adequacy of procedures for authorisation of transactions and review of management accounts 

- procedures to ensure that possible breaches of laws and regulations are appropriately resolved. 

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 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. 


Jim McLarnon ACA Senior Statutory Auditor for and on behalf of Grant Thornton UK LLP Statutory Auditor, Chartered Accountants Birmingham 

28/11/2025 

20 



Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES 

|Notes<br>**Income From:**<br>Donations and Legacies<br>2<br>Charitable Activities:<br>Operation of Blackheath Halls<br>3<br>Other Trading Activities<br>6<br>**Total Income**<br>**Expenditure on:**<br>Raising Funds<br>7<br>Charitable Activities:<br>Operation of Blackheath Halls<br>8<br>Other Trading Activities<br>9<br>**Total Expenditure**<br>Transfer Between Reserves<br>**Reconciliation of Funds**<br>Total Funds Brought Forward<br>15<br>**Total Funds Carried Forward**<br>**Net (Expenditure)/Income**<br>**Net Movement in Funds**|**Unrestricted**<br>**Funds**<br>**Restricted**<br>**Funds  Total Funds  Total Funds**<br>**2025**<br>**2025**<br>**2025**<br>**2024**<br>**£**<br>**£**<br>**£**<br>**£**<br>97,075<br>77,116<br>174,191<br>465,972<br>668,220<br> <br>70,882<br>739,102<br>671,087<br>371,425<br>-<br>371,425<br>308,286<br>**1,136,720**<br>**147,998**<br>**1,284,718**<br>**1,445,345**<br>100,896<br>-<br>100,896<br>102,297<br>927,658<br> <br>206,811<br>1,134,469<br>1,022,081<br>194,605<br>-<br>194,605<br>155,995<br>**1,223,159**<br>**206,811**<br>**1,429,970**<br>**1,280,373**<br>(86,439)<br>(58,813)<br>(145,252)<br>164,972<br>(53,320)<br>53,320<br>-<br>-<br>(139,759)<br>(5,493)<br>(145,252)<br>164,972<br>4,051,541<br>5,493<br>4,057,034<br>3,892,062<br>**3,911,782**<br>**-**<br>**3,911,782**<br>**4,057,034**|
|---|---|



The notes on pages 23 to 36 form part of the financial statements. 

21 



Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## CONSOLIDATED AND CHARITY BALANCE SHEETS 

|**Company Registration no: 01747753**<br>Note<br>**Fixed Assets**<br>Tangible Assets<br>11<br>Investments<br>**Current Assets**<br>Stock<br>Debtors<br>12<br>Cash at Bank and in Hand<br>13<br>**Net Current Liabilities**<br>Total Assets less Current Liabilities<br>14<br>**Total Net Assets**<br>Total Unrestricted Funds<br>15<br>Total Restricted Funds<br>15<br>**Total Charity Funds**<br>**Creditors: Amounts Falling Due**<br>**Within One Year**<br>**Creditors: Amounts Falling Due**<br>**After More Than One Year**|**Group**<br>**Group**<br>**Charity**<br>**Charity**<br>**2025**<br>**2024**<br>**2025**<br>**2024**<br>**£**<br>**£**<br>**£**<br>**£**<br>5,389,283<br>5,565,855<br>5,381,727<br>5,556,623<br>-<br>-<br>2<br>2|
|---|---|
||5,389,283<br>5,565,855<br>5,381,729<br>5,556,625<br>8,842<br>11,504<br>-<br>-<br>31,350<br>97,137<br>21,841<br>53,334<br>370,820<br>249,343<br>232,903<br>141,507|
||411,012<br>357,984<br>254,744<br>194,841<br>(896,008)<br>(849,300)<br>(740,505)<br>(686,001)|
||(484,996)<br>(491,316)<br>(485,761)<br>(491,160)|
||4,904,287<br>5,074,539<br>4,895,968<br>5,065,465<br>(992,505)<br>(1,017,505)<br>(992,505)<br>(1,017,505)|
||**3,911,782**<br>**4,057,034**<br>**3,903,463**<br>**4,047,960**|
||3,911,782<br>4,051,541<br>3,903,463<br>4,042,467<br>-<br>5,493<br>-<br>5,493|
||**3,911,782**<br>**4,057,034**<br>**3,903,463**<br>**4,047,960**|
|||



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


## **A. Bowne** Trustee 

27/11/2025 

The notes on pages 23 to 36 form part of the financial statements. 

22 



Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 

## **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** 

- i) The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 

- ii) The financial statements have been prepared on the historical cost basis. 

- iii) In preparing the financial statements, advantage has been taken of the following disclosure exemptions available in FRS 102 and the Charities SORP: financial instrument disclosures including categories of financial instruments; items of income, expenses, gains, or losses relating to financial instruments; and exposure to and management of financial risks on the basis that the information is included in the consolidated financial statements. 

- iv) The Charity has also taken advantage of the exemption permitted by FRS 102, whereby a cash flow statement need not be prepared by a qualifying entity (part of a group that prepares a consolidated cash flow for public inspection) (FRS 102.1.8-13 and CA 2006 para 400). 

## **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 2025-26 and for 2026-27. These project operating deficits in each year, but a net cash inflow in both 2025-26 and 2026-27. 

Amounts due to Trinity Laban Conservatoire of Music and Dance and BCH Enterprises Limited include £1,549,665 (2024: £1,612,290). 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 (£). 

23 



Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 

## **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. 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: 

- i) Costs of raising funds comprise the costs of generating voluntary income. 

- ii) Expenditure on Charitable activities includes the costs of performances, events and other educational activities undertaken to further the purposes of the charity and their associated support costs. 

- iii) Expenditure is apportioned on the basis of activities between raising funds, support activities, education and community projects and other charitable activities. 

- iv) Other expenditure represents those items not falling into any other heading. 

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: 

- i) Freehold buildings are amortised at the rate of 2% per annum. 

- ii) Leasehold buildings are amortised over the remaining term of the lease by equal instalments. 

- iii) Leasehold alterations and building improvements are depreciated between 10 and 50 years. 

- iv) On adoption of FRS 102, Blackheath Halls followed the transitional provision to revalue its leasehold land and buildings and to include that fair value as its deemed cost as at the date of transition (that is, 1 August 2014) but not to adopt a policy of revaluations of these properties in the future. The valuation, completed by a firm of international property consultants Gerald 

24 



Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 

Eve, is retained subject to the requirement to test assets for impairment in accordance with FRS102. 

- v) Fixtures, fittings and kitchen equipment are depreciated over 5 years. 

- vi) Musical instruments are depreciated over their useful economic life deemed to be 5 years. 

## **h) Stock** 

Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. 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 

25 



Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 

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. 

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: 

- i. Accruals – The estimates for payables relates to the liabilities not settled at year end. A review is performed on an individual creditor’s basis to estimate the amount which will be paid. 

- ii. Tangible fixed assets – A review is performed annually for indicators of impairment as well as an estimation of depreciation as per note 1g. 

## **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 on the long term intercompany loan is accrued at a variable rate per annum, equal to the Bank of England base rate at the start of each financial year plus a margin of 1.35%. The loan is for a period of 24 years commencing on 31 July 2019. 

## **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. 

26 



Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 

**2 Income From Donations and Legacies** 

|**2025**<br>**2025**<br>**2025**<br>**2024**<br>**2024**<br>**2024**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**Restricted**<br>**Total Unrestricted**<br>**Restricted**<br>**Total**<br>97,075<br>77,116<br>174,191<br>175,246<br>290,726<br>465,972<br>**97,075**<br>**77,116**<br>**174,191**<br>**175,246**<br> <br>**290,726**<br>**465,972**<br>Charitable Donations<br>**Unrestricted**|**2025**<br>**2025**<br>**2025**<br>**2024**<br>**2024**<br>**2024**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**Restricted**<br>**Total Unrestricted**<br>**Restricted**<br>**Total**<br>97,075<br>77,116<br>174,191<br>175,246<br>290,726<br>465,972<br>**97,075**<br>**77,116**<br>**174,191**<br>**175,246**<br> <br>**290,726**<br>**465,972**<br>Charitable Donations<br>**Unrestricted**|
|---|---|
||**97,075**<br>**77,116**<br>**174,191**<br>**175,246**<br> <br>**290,726**<br>**465,972**|
|||
|||
|**3   Income From Charitable Activities**<br>**2025**<br>**2025**<br>**2025**<br>**2024**<br>**2024**<br>**2024**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**Restricted**<br>**Total Unrestricted**<br>**Restricted**<br>**Total**<br>Box Office<br>Income<br>250,056<br>65,032<br>315,088<br>239,317<br>11,511<br>250,828<br>Hall Hire by<br>Trinity Laban<br>309,887<br>-<br>309,887<br>300,860<br>-<br>300,860<br>Management<br>Fees<br>28,644<br>-<br> <br>28,644<br>27,180<br>-<br>27,180<br>Grants from<br>Trinity Laban<br>75,000<br>-<br>75,000<br>80,449<br>-<br>80,449<br>Other Income<br>4,633<br>5,850<br>10,483<br>11,770<br>-<br>11,770<br>**668,220**<br>**70,882**<br>**739,102**<br>**659,576**<br>**11,511**<br>**671,087**<br>**Unrestricted**||
||**668,220**<br>**70,882**<br>**739,102**<br>**659,576**<br>**11,511**<br>**671,087**|
|||



27 



Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 

## **4 Charity Statement of Financial Activities** 

|Notes<br>**Income From**<br>Donations and Legacies<br>2<br>**Charitable Activities**<br>Operation of Blackheath Halls<br>**Total Income**<br>**Expenditure on:**<br>Raising Funds<br>7<br>**Charitable Activities**<br>Operation of Blackheath Halls<br>8<br>**Total Expenditure**<br>**Net (Expenditure)/Income**<br>Transfer Between Reserves<br>**Net Movement in Funds**<br>**Reconciliation of Funds**<br>Total Funds Brought Forward<br>**Total Funds Carried Forward**<br>Donation From Subsidiary Made Under<br>Deed of Covenant|**Unrestricted**<br>**Restricted**<br>**Total Funds**<br>**Total Funds**<br>**2025**<br>**2025**<br>**2025**<br>**2024**<br>**£**<br>**£**<br>**£**<br>**£**<br>97,075<br>77,116<br>174,191<br>465,972<br>746,571<br>70,882<br>817,453<br>745,559<br>99,224<br>-<br>99,224<br>76,644|
|---|---|
||942,870<br>147,998<br>1,090,868<br>1,288,175|
||100,896<br>-<br>100,896<br>102,297<br><br>927,658<br>206,811<br>1,134,469<br>1,022,081|
||1,028,554<br>206,811<br>1,235,365<br>1,124,378|
||(85,684)<br>(58,813)<br>(144,497)<br>163,797<br>(60,751)<br>60,751<br>-<br>-|
||(146,435)<br>1,938<br>(144,497)<br>163,797|
||4,042,467<br>5,493<br>4,047,960<br>3,884,163|
||3,896,032<br>7,431<br>3,903,463<br>4,047,960|



## **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. 

28 



Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 

- **6 Summary Profit and Loss Account** 

|Turnover<br>Cost of Sales and Administrative Expenses<br>Profit Before Taxation<br>Taxation<br>Profit After Taxation<br>Fixed Assets<br>Current Assets<br>Creditors: Amounts Falling Due Within One Year<br>Total Net Assets<br>Aggregate Share Capital and Reserves|**2025**<br>**2024**<br>**£**<br>**£**<br>371,425<br>308,286<br>(272,955)<br>(230,469)|
|---|---|
||98,470<br>77,817<br>-<br>-|
||**98,470**<br>77,817|
||**2025**<br>**2024**<br>**£**<br>**£**<br>7,551<br>9,227<br>156,118<br>163,143<br>(155,363)<br>(163,310)|
||8,306<br>9,060|
||**8,306**<br>9,060|



## **7 Expenditure on Raising Funds** 

|Staff Costs<br>Advertising<br>Printing, Postage and Stationery|**2025**<br>**2024**<br>**£**<br>**£**<br>66,629<br>68,666<br>25,214<br>20,464<br>9,053<br>13,167|
|---|---|
||**100,896**<br>102,297|



## **8 Expenditure on Charitable Activities - Operation of Blackheath Halls** 

|Other Activities<br>Support Costs<br>Education &<br>Community -<br>Projects|**2025**<br>**2025**<br>**2025**<br>**2024**<br>**2024**<br>**2024**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**Unrestricted**<br>**Restricted**<br>**Total Unrestricted**<br>**Restricted**<br>**Total**<br>312,816<br>-<br>312,816<br>296,001<br>-<br>296,001<br>586,290<br>-<br>586,290<br>446,253<br>124,012<br>570,265<br>28,552<br>206,811<br>235,363<br>155,815<br>-<br>155,815|
|---|---|
||927,658<br>206,811<br>1,134,469<br>898,069<br>124,012<br>1,022,081|



29 



Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 

|**Support Costs**<br>House managers<br>Administration<br>Ushers<br>Management<br>Crew<br>Box Office<br>Audit Fees|**2025**<br>**2024**<br>**£**<br>**£**<br>5,924<br>15,968<br>170,225<br>124,916<br>17,569<br>31,459<br>91,025<br>89,643<br>5,255<br>12,643<br>14,918<br>13,672<br>7,900<br>7,700|
|---|---|
||**312,816**<br>296,001|
|||



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** 

|This relates to BCH Enterprises Limited, the trading subsidiary<br>Staff Costs<br>Legal and Professional<br>Audit Fees<br>Repairs and Maintenance<br>Sundry Expenses<br>Bar and Catering Purchases|**2025**<br>**2024**<br>**£**<br>**£**<br>121,636<br>86,539<br>48,051<br>36,388<br>-<br>8<br>5,067<br>4,700<br>-<br>741<br>17,673<br>25,822|
|---|---|
|Depreciation|1,676<br>1,797|
||**194,605**<br>155,995|
|||



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

**10 Staff Costs** 

|Wages and Salaries<br>Social Security<br>Other Pension Costs|**2025**<br>**2024**<br>**£**<br>**£**<br>475,247<br>415,868<br>35,401<br>26,437<br>24,872<br>27,794|
|---|---|
||**535,520**<br>470,099|
|||
|||
|**Remuneration of senior paid staff excluding employer's pension contributions**<br>**2025**<br>**2024**<br>**Number**<br>**Number**<br>£60,000 - £70,000<br>1<br>1||



30 



Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 

The average monthly number of employees during the year: 

|NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)<br>The average monthly number of employees during the year:||
|---|---|
|Administration<br>Box Office<br>Marketing and Fundraising<br>Crew & Ushers<br>House Management<br>Bar & Catering<br>Support|**Number**<br>**Number**<br>4<br>4<br>1<br>2<br>2<br>2<br>4<br>3<br>2<br>2<br>2<br>1<br>1<br>1|
||**16**<br>15<br>|
|||



None of the trustees received any emoluments from the Charity during the year (2024 - £Nil). 

There have been no expenses paid to or on behalf of the trustees in 2024-25 (2024 - £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. 

|Remuneration<br>Pension Costs|**2025**<br>**2024**<br>**£**<br>**£**<br>66,503<br>62,433<br>8,702<br>12,135|
|---|---|
||**75,205**<br>74,568|
|||



31 



Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 

## **11 Tangible Fixed Assets** 

|**Group**<br>At 1 August 2024<br>Additions<br>Disposals|**Freehold**<br>**Land and**<br>**Buildings**<br>**Long**<br>**Leasehold**<br>**Buildings**<br>**Leasehold**<br>**Improvements**<br>**Fixtures,**<br>**Fittings &**<br>**Kitchen**<br>**Equipment**<br>**Musical**<br>**Instruments**<br>**Total**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>1,270,245<br>2,106,833<br>3,278,301<br>346,323<br>20,828<br>7,022,530<br>-<br>12,000<br>-<br>-<br>-<br>12,000<br>-<br>-<br>-<br>(104,377)<br>(150)<br>(104,527)|
|---|---|
|**At 31 July 2025**<br>**Depreciation**<br>At 1 August 2024<br>Charge for year<br>Disposals|**1,270,245**<br>**2,118,833**<br>**3,278,301**<br>**241,946**<br>**20,678**<br>**6,930,003**|
||55,905<br>95,198<br>950,419<br>336,827<br>18,326<br>1,456,675<br>5,905<br>22,986<br>156,645<br>1,784<br>1,252<br>188,572<br>-<br>-<br>-<br>(104,377)<br>(150)<br>(104,527)|
|**At 31 July 2025**<br>**Net Book Value**<br>**At 31 July 2025**<br>**At 31 July 2024**|**61,810**<br>**118,184**<br>**1,107,064**<br>**234,234**<br>**19,428**<br>**1,540,720**|
||**1,208,435**<br>**2,000,649**<br>**2,171,237**<br>**7,712**<br>**1,250**<br>**5,389,283**|
||1,214,340<br>2,011,635<br>2,327,882<br>9,496<br>2,502<br>5,565,855|



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

|**Charity**<br>At 1 August 2024<br>Additions<br>Disposals<br>**At 31 July 2025**<br>**Depreciation**<br>At 1 August 2024<br>Charge for year<br>Disposals<br>**At 31 July 2025**|**Freehold**<br>**Land and**<br>**Buildings**<br>**Long**<br>**Leasehold**<br>**Buildings**<br>**Leasehold**<br>**Improvements**<br>**Fixtures,**<br>**Fittings &**<br>**Kitchen**<br>**Equipment**<br>**Musical**<br>**Instruments**<br>**Total**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>1,270,245<br>2,106,833<br>3,267,029<br>323,309<br>20,828<br>6,988,244<br>-<br>12,000<br>-<br>-<br>-<br>12,000<br>-<br>-<br>-<br>(91,635)<br>(150)<br>(91,785)|
|---|---|
||**1,270,245**<br>**2,118,833**<br>**3,267,029**<br>**231,674**<br>**20,678**<br>**6,908,459**|
||55,905<br>95,198<br>946,380<br>315,812<br>18,326<br>1,431,621<br>5,905<br>22,986<br>155,518<br>1,235<br>1,252<br>186,896<br>-<br>-<br>-<br>(91,635)<br>(150)<br>(91,785)|
||**61,810**<br>**118,184**<br>**1,101,898**<br>**225,412**<br>**19,428**<br>**1,526,732**|



32 



Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 

|**12**<br>**Debtors**<br>Trade Debtors<br>Other Debtors<br>Prepayments and Accrued Income|**Group**<br>**Group**<br>**Charity**<br>**Charity**<br>**2025**<br>**2024**<br>**2025**<br>**2024**<br>**£**<br>**£**<br>**£**<br>**£**<br>12,777<br>65,878<br>3,468<br>22,355<br>-<br>12,766<br>-<br>12,766<br>18,573<br>18,493<br>18,373<br>18,213|
|---|---|
||**31,350**<br>97,137<br>**21,841**<br>53,334|
|||



## **13 Creditors: Amounts Falling Due Within One Year** 

|Due to Parent and Subsidiary Companies<br>Trade Creditors|**Group**<br>**Group**<br>**Charity**<br>**Charity**<br>**2025**<br>**2024**<br>**2025**<br>**2024**<br>**£**<br>**£**<br>**£**<br>**£**<br>659,442<br>673,536<br>557,410<br>595,035<br>47,227<br>21,256<br>42,207<br>19,245|
|---|---|
|Other Creditors<br>Taxation and Social Security<br>Accruals and Deferred Income|-<br>89<br>-<br>100<br>2,157<br>1,666<br>2,157<br>1,666<br>187,182<br>152,753<br>138,731<br>69,955|
||**896,008**<br>849,300<br>**740,505**<br>686,001|



## **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. 

|Balance Brought Forward<br>Income Released in Year<br>Ticket Sales for Future Events<br>Balance Carried Forward|**Group**<br>**Group**<br>**Charity**<br>**Charity**<br>**2025**<br>**2024**<br>**2025**<br>**2024**<br>**£**<br>**£**<br>**£**<br>**£**<br>82,978<br>58,281<br>32,028<br>40,704<br>(82,978)<br>(58,281)<br>(32,028)<br>(40,704)<br>138,519<br>82,978<br>98,110<br>32,028|
|---|---|
||**138,519**<br>82,978<br>**98,110**<br>32,028|



## **14 Creditors: Amounts Falling Due After More Than One Year** 

||**Group**|**Group**|**Charity**|**Charity**|
|---|---|---|---|---|
||**2025**|**2024**|**2025**|**2024**|
||**£**|**£**|**£**|**£**|
|Long Term Interest Free Intercompany Loan|560,000|560,000|560,000|560,000|
|Long Term Intercompany Loan|432,255|457,255|432,255|457,255|
|Debenture|250|250|250|250|
||**992,505**|1,017,505|**992,505**|1,017,505|



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 a variable rate per annum, equal to the Bank of England base rate at the start of each financial year plus a margin of 1.35%. The loan is for a period of 24 years commencing on 31 July 2019. 

33 



Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 

## **15 Reserves** 

## a) Group 

|**At 1 August 2023**<br>Incoming Resources for Year<br>Outgoing Resources for Year<br>Transfer Between Reserves<br>**At 1 August 2024**<br>Incoming Resources for Year<br>Outgoing Resources for Year<br>Transfer Between Reserves<br>**At 31 July 2025**|**Unrestricted**<br>**Funds**<br>**Revaluation**<br>**Reserve**<br>**Restricted**<br>**Funds**<br>**Total**<br>**Restricted**<br>**Funds**<br>**Total**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>2,545,769<br>1,326,685<br>3,872,454<br>19,608<br>19,608<br>3,892,062<br> <br>1,143,108<br>-<br>1,143,108<br>302,237<br>302,237<br>1,445,345<br>(1,156,361)<br>-<br>(1,156,361)<br>(124,012)<br>(124,012)<br>(1,280,373)<br>200,632<br>(8,292)<br>192,340<br>(192,340)<br>(192,340)<br>-<br>**Total**<br>**Unrestricted**<br>**Funds**|
|---|---|
||2,733,148<br>1,318,393<br>4,051,541<br>5,493<br>5,493<br>4,057,034<br> <br>1,136,720<br>-<br>1,136,720<br>147,998<br>147,998<br>1,284,718<br>(1,223,159)<br>-<br>(1,223,159)<br>(206,811)<br>(206,811)<br>(1,429,970)<br>(45,028)<br>(8,292)<br>(53,320)<br>53,320<br>53,320<br>-|
||**2,601,681**<br>**1,310,101**<br>**3,911,782**<br>**0**<br>**0**<br>**3,911,782**|



## b) Charity 

|**At 1 August 2023**<br>Incoming Resources for Year<br>Outgoing Resources for Year<br>Transfer Between Reserves<br>**At 1 August 2024**<br>Incoming Resources for Year<br>Outgoing Resources for Year<br>Transfer Between Reserves<br>**At 31 July 2025**|**Unrestricted**<br>**Funds**<br>**Revaluation**<br>**Reserve**<br>**Restricted**<br>**Funds**<br>**Total**<br>**Restricted**<br>**Funds**<br>**Total**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>2,537,870<br>1,326,685<br>3,864,555<br>19,608<br>19,608<br>3,884,163<br> <br>985,938<br>-<br>985,938<br>302,237<br>302,237<br>1,288,175<br>(1,000,366)<br>-<br>(1,000,366)<br>(124,012)<br>(124,012)<br>(1,124,378)<br>200,632<br>(8,292)<br>192,340<br>(192,340)<br>(192,340)<br>-<br>**Total**<br>**Unrestricted**<br>**Funds**|
|---|---|
||2,724,074<br>1,318,393<br>4,042,467<br>5,493<br>5,493<br>4,047,960<br> <br>942,870<br>-<br>942,870<br>147,998<br>147,998<br>1,090,868<br>(1,028,554)<br>-<br>(1,028,554)<br>(206,811)<br>(206,811)<br>(1,235,365)<br>(45,028)<br>(8,292)<br>(53,320)<br>53,320<br>53,320<br>-|
||**2,593,362**<br>**1,310,101**<br>**3,903,463**<br>**0**<br>**0**<br>**3,903,463**|



|**16 **|**Group and Charity Restricted Funds**||||**Transfer**||
|---|---|---|---|---|---|---|
||||||**from**||
||**At 1**|**August**|||**Unrestricted**|**At 31 July**|
|||**2024**|**Income**|**Expenditure**|**Reserves**|**2025**|
|||**£**|**£**|**£**|**£**|**£**|
||Restricted Donations|5,493|147,998|(206,811)|53,320|-|
||Total Restricted Funds|**5,493**|**147,998**|**(206,811)**|**53,320**|**-**|



34 



Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 

## **17 Analysis of Total Group Funds** 

|Tangible Fixed Assets<br>Current Assets<br>Current Liabilities<br>Long Term Liabilities<br>Total Funds 2024<br>Tangible Fixed Assets<br>Current Assets<br>Current Liabilities<br>Long Term Liabilities<br>Total Funds 2025|**Unrestricted**<br>**Funds**<br>**Restated**<br>**Revaluation**<br>**Reserve**<br>**Restricted**<br>**Funds**<br>**Total**<br>**Restated**<br>**2024**<br>**2024**<br>**2024**<br>**2024**<br>**£**<br>**£**<br>**£**<br>**£**<br>4,247,462<br>1,318,393<br>-<br>5,565,855<br>352,491<br>-<br>5,493<br>357,984<br>(849,300)<br>-<br>-<br>(849,300)<br>(1,017,505)<br>-<br>-<br>(1,017,505)|
|---|---|
||**2,733,148**<br>**1,318,393**<br>**5,493**<br>**4,057,034**|
||**Unrestricted**<br>**Funds**<br>**Revaluation**<br>**Reserve**<br>**Restricted**<br>**Funds**<br>**Total**<br>**2025**<br>**2025**<br>**2025**<br>**2025**<br>**£**<br>**£**<br>**£**<br>**£**<br>4,079,182<br>1,310,101<br>-<br>5,389,283<br>411,012<br>-<br>-<br>411,012<br>(896,008)<br>-<br>-<br>(896,008)<br>(992,505)<br>-<br>-<br>(992,505)|
||**2,601,681**<br>**1,310,101**<br>**-**<br>**3,911,782**|



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** 

||**Group**|**Group**|**Charity**|**Charity**|
|---|---|---|---|---|
||**2025**|**2024**|**2025**|**2024**|
||**£**|**£**|**£**|**£**|
|Contracted For But Not Provided|-|-|-|-|



## **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). 

35 



Docusign Envelope ID: EE3ED746-A779-483B-9505-9C826BEFA747 

## **THE BLACKHEATH HALLS** 

For the year ended 31 July 2025 

## 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. 

||||**(Expenditure)/**|**(Expenditure)/**|**Debtor/(Creditor)**|**Debtor/(Creditor)**|
|---|---|---|---|---|---|---|
||||**Income**||**Balance**||
||**Trustee/**|**Nature of**|||||
|**Related Party**|**Director**|**Relationship**|**2025**|**2024**|**2025**|**2024**|
||||**£**|**£**|**£**|**£**|
|Hearn Foundation|Peter Hearn|Trustee|10,000|210,830|-|-|
|Peter Hearn||Trustee|1,000|-|-|-|
|Dame Joan Ruddock||Trustee|-|3,427|-|-|
|Lewisham Music|Dame Joan|Trustee/|-|22,012|-|-|
||Ruddock|Chair|||||
|Ailish Tynan||Trustee|-|(100)|-|-|
|Anthony Bowne||Trustee/|550|250|-|-|
|||Chair|||||



## **21. 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 

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