SPORTS & LEISURE
SEpving thE Communlty
SEpious about '
.')ort
REDBRIDGE SPORTS CENTRE TRUST LIMITED
(Limited by Guarantee)
Company Number: 1000490
Charity Number.. 303187
REPORT AND AUDITED ACCOUNTS
2024

REDBRIDGE SPORTS CENTRE TRUST LIMITED
2024 REPORT AND AUDITED ACCOUNTS
Contents
FINANCIAL RESULTS AT A GLANCE................................
NOTICE OF ANNUAL GENERAL MEETING....
TRUST OFFICIALS................
CHAIR'S ANNUAL REPORT..................................
CHIEF EXECUTIVE'S ANNUAL REPORT.................................
STRATEGIC REPORT..
io
REPORT OF THE EXECUTIVE BOARD
li
INDEPENDENT AUDITORS, REPORTTO THE MEMBERS
.14
STATEMENT OF FINANCIAL ACTIVITIES
.17
INCOME AND EXPENDITURE ACCOUNT..
.18
BALANCE SHEET..................
.19
STATEMENT OF CASH FLOWS......................................
.20
ACCOUNTING POLICIES...............................
.21
NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES
.23
NOTES TO THE INCOME AND EXPENDITURE ACCOUNT................................................
.24
NOTES TO THE BALANCE SHEET........
.25
ORGANISATION
.31
FINANCIAL BACKGROUND SUMMARY.................
.32

REDBRIDGE SPORTS CENTRE TRUST LXMITED
FXNANCXAL RESULTS AT A GLANCE
FOR THE YEAR ENDED 31 DECEMBER 2023
2024
2023
INCOME AND EXPENDrruRE ACCOUNT (page 18)
Turnover
Cost of Sales
Administrative Expense5
Net Interest Expenses
2,450,267
(1,540,929)
(966,506)
(76,029)
2,203,403
(1,419,757)
(929,467)
(68,672)
(Deficit) ft)r the yea r
133 197
214 493
BALANCE SHEET (page 19)
Ta ngible Fixed Assets
Net Current (Liabilities}/Assets
Creditors: Due more than one year
Provlslons
5,737,606
(1,196,133)
6,018,971
(77,627)
(1,03 1,946)
(86,280)
4 823 118
(17,204)
4 524 269
Net Assets
Restrlcted Funds
Unrestrlrted Funds
4,155,524
368,745
4,321,176
501,942
Total Funds
4 524 269
4 823 118
CAprrAL EXPENDITURE (page 251
Capital addStion5 during the year
MEMBERSHIP NUMBERS
Number
Number
(February 2025) (February 2024
Life
Ultra/Easyplay/Executive
Principa IIReds
Off Peak
studentlYouth/JuniorllnfantlE.C.L.T.A.
1,739
1,410
77
22
1,742
1,301
78
24

(A Company Ilmlted by Guarantee, not havlng a share
capltal and Reglstered under the
Charltles Act 1960)
COMPANY NVMBEIL. 1000490
CHARrrY REGxsfRATION NUMBER: 303187
NOTICE OF ANNUAL GENERAL MEETING
24 March 2025
Redbrldge Sports C8ntre
Forest Road
Barklngslde
Essex
IG6 3HD
Tel.. 0208 498 1000
Dear Slr or Madam
The fifty second ANNUAL GENE￿L MEETING of REDBRIDGE SPORTS cwfRE ThUST UMryED wlll be held In person In
the Edna Clarke Cafe In the Jean Brown Indoor Arena, Redbrldge Sports Centre, Forest Rd, Barklngslde, Essex on
Monday 19 May 2025 at 7pm. J hope you wlll ftnd It posslble to attend.
Members attendlno the meetlng should brlng thelr membetshlp card5 wlth them and mv5t Complete an admlsslon sllp
on enterlng the meetlng.
Yours falthful
Carolynne Spen￿r
Hon. Treasurer
To conflmi the mlnutes of the A￿r￿al Genernl Mfjetlng held on 13 May 2024.
To deal wlth correspondence Ilf any) and retèlve apologles for absence.
To reolve and, If approved, adopt the audlted accounts for the year ended 310ecember 2024.
To recelve the Chalrfs Annual RepDrt.
To report the results In rt%ped of electlon to the Executlve Board.
To appolnt Audltors for the ensulng year.

RED
IDGE SPORTS CENTRE T
UMBER: 10
04
187
HARITY
ISTERED OFFIC
Forest Road
Barkln9slde
Essex
IG6 3HD
ESS
IRECTOR
Ras Gohil (Appointed 1310512024)
EASURER
Carolynne Spencer
Jane Kelloe
EXECUTIVE
Ken Leggate (Resigned 3110312024)
Wayne Alexander (Appointed DI/10120241 Ilnterim from 1310512D241
TIVE BOA
Ras Gohll
Khyam Choudhry (Resigned 1013120251
Clive Rippon
Kartar Slngh (Resigned 02101120241
Eric Brown
Cllr. Joyce Ryan
Paul Clarke (Resigned 1310512024
Cllr. Bob Chattaway
Anne McNeill (Appolnted 14110120241
MPAN
SECRETA
Carolynne Spencer
Matthew Reynolds (Appolnted 01102120251
TAT
TORY AUDITO
THP Limited
34-40 High Street
Wanstead
London
EII 2RJ
arclays Bank PIC
320 New North Road
Hainault
Ilft>rd
Essex IG6 3BU
The Trust's Article5 of Associatior) include a requlrement that the Executlve Board shall Include four nomlnated rnembers,
being repre5entatlves of Bodies who supported the Trust from Its inception. Those Bodies and their representative5 are
as follows..
Essex County Lawn Tennls Associatlon
Essex County Badminton Assoclation
London Borough OF Redbridge
Cllve Rlppon
Eric Brown
Cllr. Namreen Chaudhry
Cllr. Bob Chattaway

BRIDGE SPORTS
EN
CHAI
EPOR
As we ￿flect on the past year, it is evident that 2024 has been a perlod of slgnlflcant
change and adaptation for Redbrld9e Sports Centre Trust Limlted. The UK economSc
landscape has shlfted with a new governrnent in power, bringlng both challenges and
opportunities. This report outlines our financial performance, strategic Initiatives, and
the impact of recent economlc policles on our operations. Additionally, we hlghllght the
leadership transition with Wayne Alexander taking over as CEO from Ken Leggate, who
has been a cornerstone of our organisation for over three decades.
The UK economy experienced a mixed year in 2024. The initial optlmism following the
change of government was tempered by slower growth In the latter half of the year.
The Autumn Statement intrOdU￿d several measures almed at supporting businesses,
including a continuatitsn of the business rates subsidy, albeit at 3 reduced level for the
retail, hospitality, and lelsure sectors.
The rate change for employers. National Insurance has also Impacted our cost
structure. The Bank of England's declsion to hold the base rate at 4.75Q/o has provided
some stability, and the anticipated gradual reductions In 2025 are expected to offer
further relief. These economic factors have inflUen￿d our financSal planning and
operatior)al strategies for the Comlng year.
Despite the challenging economic environment, we have managed to maintain a stable financial position. Our income
from member5hlp fees and faclllty use has seen a slgnificant increase, reflecting the communlty's continued support
and engagement with our service5. However, rising operating costs, particularly in utilities and wages, have put
pressure on our marglns. We ended the year with a deficit of £133,197, which, whlle concerning, is a manageable
figure given the broader economlc context.
The Trust's five~year pandemic recovery plan ha5 been the roadmap back towards financial stability, and desplte the
contlnued challenges of the economic climate, we remaln posltlve that sufflclent funds can be generated to resume
the major development projects for whlch the Centre is synonymous.
Developments During the Year
We 5LJcce5sfLJlly refurbished netball courts 6 to 9, providing our members with improved playing surfaces and
facilities. TFIis project ha5 been well-recelved and contributed to increased netball pèrtlclpatlDn. Our successful
grant application of £IOk from England Netball contrlbuted to the overall refurbishment costs tsf the
development.
The cleaning and repalntfng of netball courts 10 to 12 added an enhan¢ed reslstance surface, whlch has
received significant P051tlve feedback from our members. These improvement5 have not only enhanced the
playlng experlence but also ensured the longevity of our faclllties.
We achleved a total of £81,432 through various revenue generation initiatives, Includlng the Day Nursery,
Pickleball and the Essex Metropolitan Junior League expansion, and personal training service5. Membershlp
campalgns were particularly successful throughout the year, allowlng us to see an Improved membership
status startSng polnt for 2025 11311 to 1361, an increase of 50). Additionallyj event bookings, socials, and
room hire Saw significant imprtsvements over the previous year.

REDBRIDGE SPOR
RE TRUST LIMITED
On the cost reduction front, we achleved total savings of £70,561. NSgratlng to VOIP and reducing Ilne rental
fees, and the staffing efficiency savlngs made throughout the year allowed us to keep wages under control and
within budget.
Thanks to the management team's dedlcatlon and commitment, these inltlatlves have slgnlficantly improved our
financlal performance.
We have also Increased OLJr efforts to engage with the local communlly, hostlng over 300 voluntary sports clubs and
events such as the London Youth Game5 and the Men's London Open Artistic Gymnastics Competition. Our membershSp
has grtswn from 4,337 to 4,571, with a notable rlse In pre-pald premium rnembers.
One of the most slgnificant changes this year has been the leadership transltlDn. Wayne Alexander was appolnted as
CEO on 1st October, succeeding Ken Leggate after more than 30 years of dedlcated servlce. Ken's leadership has been
instrumental in steering the Trust through both prosperous and challenglng times. His commitment and vlsion have left
lasting legacy, and we extend our heartfelt gratitude for his contributlons. Wayne brings a wealth of experlence and
a deep understanding of our operations, having served in various Senior roles wlthln the organisation. His appolntment
marks a new chapter for Redbrldge Sports Centre Trust, and we are confldent in his abilily to lead u5 towards continued
growth and success.
In conclusion, 2024 has been a year of adaptation and resllience for Redbridge Sport5 Centre Trust Limited. The
economic challenges and policy changes have required u5 to be aglle and strategic in our approach. The leadership
transition has been smooth, and we are well-positloned to bulld on our successes and navigate the uncertalntles ahead.
We remaln committed to providing high-quality sports and leisure Facilities to the community. With the support of our
dedicated staff, members, and partners, we look forward to a prosperous year ahead.
I want to extend our heartfelt thanks to Paul Clarke, who has Stepped down from the Board after 42 year5 of dedScated
service. He held numerous roses during his tenure, Including Company Secretary, Honorary Treasurer, and Chair of Ihe
Capital Appeal Board for Phase 10 developrnents (Jean Brown Indoor Arena). We expres5 our deepest appreciation and
gratltude for his Invaluable contrlbutions.
l also thank our Executlve Board for thelr unwavering support and continued guidance throughout the year.
Ras Gohil
Chair

EDBRIDGE SPORT
IVE"
ANNUAL REPO
As the newly appointed CEO, I am honoured to present this report on the Trust's
flnanclal position and key development5 for the year ending 2024. 1 would like to
extend my heartfelt gratitude to the board, employees, and members for their
unwavering support durSng these challenging times. Together, we have navlgated
obstacles and achleved remarkable mllestones, settlng a strong foundation for a brlght
futu￿.
The Trust's financlal performance for the year ending 2024 demonstrated ￿5(1]enCe
and stability. Despite the economic challenges, we have improved our fi'nancial position
compared to the previous year, ensuring the 5UStainabllity of our operations and the
continued delivery of our services to the community.
The Trust's net deficit for the year was £ 133, 197, an Improvement from the p￿vIouS
year's deficit of £214,493. This demonstrates our efforts towards better financial
management. Our net assets stand at £4,524,269, reflecting a solid overall solvency
position, ensuring the Trust's financial stablllty.
Income from charitable actlvities Increased to £2,450,267, up from £2,203,403 in the
previous year. Thls growth hlghllghts our Suc￿sS in generatlng more fijnds to support our charltable inltiatlves.
High utlllly costs limited our ability to increase malntenance spending,. however, new utility contracts effective from I
October have reduced costs for the next 12 months. The pèyroll/turnover ratio was 59.40Wo, dernonstratlng improved
efficiency compared to the prevlous yearfs ratio of 63.440￿.
The operating deficit was reduced to E57,168 from £145,821 In the prevlous year, indlcatlng otjr commltment to
financial prudence and effectlve management. These figures underscore our dedication to improving our financial
position while continuing to serve our community effectively.
Evénts and Successes
Our athletes in the Badmlnton Performance Squads have excelled In nallonal competitions, earnlng 32 gold, 28
silver, and 30 bronze medals In U 11 to U19 Slngles and Doubles events In 2024. Hostlng the London Youth
Games, with our Level 3 Coach as Competition Director, highlighted our leadership In the local sporting
community. RSL also hosted three School Festival events and provlded training to two local schools, wlth LAE
Academy wlnnlng thelr school competition, demonstratlng the programme's effectiveness.
The Lawn Tenni5 Association {LTA) Chrlstmas Grade 3 Tournament 2024 was held on our indoor courts, organised
and refereed by Graeme Luckin, our former Tennls Development offi￿r. This event Is among the most popular
and successful on the LTA calendar nationwide, atiracting over 600 entrles. We also hosted an LTA Doubles Grade
3 Tournament and continue to organise School Skills Festivals, with 130 chlldren in Years 314 attending in
November and 75 children in Years 516 attendlng In January.
The England Roses, the natlonal England netball squad, used our facllities for three training camps In February
and July, including the Jean Brown Indoor Arena netball courts, and the spinning studio.
The England Men'5 and Mixed Netball Assoclatlon {E.M.M.N,A) held three tralnlng camps In February, Aprll, and
Julyi highlighting the growing popularity of men's and mlxed netball. With netball becomlng a professional sport
from September, the demand For our netball facllitles will only increase. We also hosted two Netball Performan
league matches at the Jean Brown Indoor Arena In December, which were Ilve-streamed.

REDBRIDGE S
ENT
E TRUST LIMITED
Iv
The Redbridge Lions Gymnastlcs Club Elite Programme has achleved exceptlonal suc￿59. The Junlor actlvlty
programme has grown substantially, with our youngest team of Llons (aged 5 and 6) earning Gold scores in their
first-ever competitlon in November. Our older gymnasts at Level 3+ have excelled, with 58 gymnasts winning 25
gold, 20 sllver, and 7 bronze medals. These results are a testarnent to the outstandlng work of the gymnastics
coachlng team.
Redbrldge Sport5 Centre Trust Ltd want to pay tribute to one of tsur m05l loyal patrons, Slr Jack Petchey, who sadly
passed away last year. lack's legacy of helping young people aged 11 to 25 and recognlslng their contribution and
great work that takes place in communltles and clubs every day through the Jack Petchey Achlevement Awards will
continue to insplre us. We are commitled to acknowledging the positlve contrlbutlons of the next generation, ensuring
that Jack's vision lives on.
Looking Forward into 2025
The Trust must navlgate the potentSal challenges ahead, includlng substantial changes from the Autumn Budget, such
a5 an Increase In employer Natlonal Insurance contributions. From April 2025, the einployer National Insurance rate
will increase from 13.8Vo to 15%, and the contribution th￿ShOld wlll be red￿￿d from £9, 100 to £5,000.
AddStionally, the buslnes5 rate discount for retall, hospltalltyi and leisure IRHLI properties will decrease from 75Wll to
400/0. These measures, intended to boost public spending and investment, have had a mixed Impact on buslnesses,
includlng ours, resultlng In increased costs. Despite these challenges, our goal remalns to drive developments that wlll
enhance our facilitie5 and activities for all, and our determination is unwavering.
Furthermore, the Trust Is well-positloned for a pr05peroLJS future, wlth new developments and activities on the
horizon. We are excited about the upcomlng projects and initiatives that will further enhance our services and
facilities. Our commitment to excellence and community engagement remain5 Steadfast, and we look forward to
achlevlng even greater success In the future.
Wayne Alexander
Chief Executive

REDBRIDGE SPORTS
IMITED
TEGIC REPORT
The Executlve Board present their strateglc report of the Trust for the year ended 31 December 2024.
view of Activities
The Trust made a net deflclt of £133,197 (2023.. £214,493). A comprehensive review of actlvity in the year 15 given in
the Chlef Executive'5 report on page5 8 and 9.
The net assets of the Trust are £4,524,26912023'. £4,823,118) at Ihe balance sheet date. Thi5 reflects the solld
posltlon of the Trust from an overall solvency per5pectlve. This strong balance sheet 15 the foundation on which the
Trust can continue to grow and prosper. See page 11 ft>r comments in relation to the net Cyr￿nt Ilablllty position at
year end.
dicator
The Trust Uses the followlng Key Performance Indicators to monltor Its flnancial performance..
2024
Income for Charitable Actlvltle5
Payroll Costs
Payroll/Turnover Ratlo
Operating Ideficltl
Net result
2,450,267
1,455,433
59.40%
157,1681
{133, 197}
2,203,403
1,397,771
63.440/0
1145,8211
1214,493)
CS
in
ies
The Executive Board carry out a comprehensive risk revlew on an annual basis and have produced a pollcy document
nd Implemented procedures to mltigate against existing risks and to monitor against exposure lo potentlal future risks.
The Trust's primary risks, as noted from the latest review were:
Risk Type
Strategic
Strategic
Financial
Flnancial
Flnancial
LegallRegulatory
Legal/Regulatory
Operational
Operatlonal
Operatlonal
Operatlonal
De5¢rlptlon
The appropriateness of the Trust management structure
Cost of malntaining ageing buildings
Reduction In consumer spending due to hlgh Inflation
Ability to repay the loan and meet Ihe loan covenants
Increasing costs versus decreaslng income
Compliance with Data Protectlon Act
Child Protection compllance - safeguarding
Impact OF natural dlsasters e.g. flooding
Jnsurance adequacy to cover all risks
Increasing reliance on IT syslems
Los5 of acce5S to shared car parklng facilities
The Trustees have put in place various strategies to reduce mitigate these risks-
Produclng a buslness plan and contlngency budget and offerlng a broad range of facilities,.
Developed a "Pandemlc" strategy to Safeguard the long term future of the Trust,. Ensuring adequacy of
insurance cover.,
Preparing cash flows and reviewing debt covenants on a regular basis,.
Malntaining investment In the Centre and its IT function and embracing the efficiencies avallable through
automation,. and
Malntainin9 sufficient and ￿levant tralnlng for team members and Trustees
This report was approved by the Board on 31 March 2025 and signed on its behalf.
Ras Gohil
Chair
10

ID
E SPORTS CENTRE TR
ITED
VE BOARD
The Executive Board present thelr report and the financial statements for the year ended 31 December 2024.
Or
anisatlo
Detalls of the Trust's Organisation are disc105ed on Page 31.
nd Review
The principal activity of the Trust is to admlnister the Redbridge Sports Centre to provlde Sports and Lelsure fac111tles
at affordable prices to the Trust's Members and the local communlty.
The accounts, desplte a £57,168 operating deflclt (compared to £145,821 in 20231 and £1,196, 133 net current
liabilities Icornpared to £77,627 in 20231, are prepared on a golng concern basis.
The Increase In the nel current liability posltlon Is predomlnantly due to the whole of the bank loan of £1,028,348
being shown as due in less than or)e year, as final repayment Was originally due in June 2025. On 5 March 2025, the
Trustees received confirmatlon from the bank that, subject to final prlclng approval, the loan will be refinanced into a
new £1.5m facllity amorlising over 15 years.
The additional funds secured will settle the exi5tlng loan and enable the Trustees to make addluonal capital
Investrnents in the Centre's Infrastructure.
Day-to-day worklng capltal needs are met through cash flows and reseNes, while major pmjects are flnanced by
grants and working capital. Detailed budgets and forecasts for the next 12 months Indicate sufficient cash flow.
Trustees affirm the decision to prepare flnancial statements on a going concern basls after thorough evaluation of
relevant factors.
vi
The Trust's prlmary objectlves for 2024 were:
To continue to bulld on levels of particlpation across our prinelpal sports and Identlfy new opportunitles for growth.
The aim5 for 2025 and beyond are to extend our openlng hours, continue to grow membership levels, to promote
maximurn OCCLJpancy of the facilities, particularly at midweek off peak and weekend periods, whllst easlng pressure on
peak time court booklngs.
lic B
The Trustees have complied wlth thelr duty as set out i¥1 the Charitles Act to have due regard to the Chèrlty Commission's
guidance on public benefil.
A5 explained above, the prlmary object of the Trust Is to provlde sports and leisure facilitie5 at affordable prices to the
Trust's Members and the local community.
The Executlve Board a￿ satlsfled that the Trust has met Its obligatlons in this respect durlng 2024. In particular..
The Trust had 4,720 members as at February 2025 12024.. 4,623}, the slgnificant majority of whlch use the
Trust's facllltles on a regular basls.
The Trust's facllities are made avallable to the local community, In partlcular enabling the young and retlred to
further their Interest in sport at conces5ionary rates.

BRIDGE SPORTS CENTRE TRUST LI
Network Links
The Trust is a member of Community Lelsure UK ICLUK), which provides technlcal support to the Trust and
champions the Trust tnodel for providing not-for-prolit community leisure provision. It does thls by enablino
networklng and sharing knowledge with peer5 and external stakeholders.
The Trust is also part of a collaboratlve venture with Vision
Redbridge Culture and Leisure, the not-For-profit
organisation that manages councll sports and fltness facilities across the borough. Members who subscribe to the
approprfate membership have acce55 to Fullwell Cr05s Swimmlng pooli gym, group exercise and spa facililies.
Tru
cru
The Executive Board endeavour to recrult new Dlrectorstfrustees, who can further develop and stren9then the skill
base of the exlsling Executive Board, If any Member is interested In becoming a Director/Trustee, please contact the
Chief Executlve, Wayne Alexander, at the Centre.
Members who express interest in joining the Board have exploratory dlscussions with the Chair and Chlef Executlve
and, If considered approprlate, they are invited to attend a few Executive Board Meetlngs in order that they meet other
Board Members and understand thelr responslbllitles. If Interest is sustained by all partie5, and Board vacancies exist,
the individual is then co-opted or encouraged tts formally seek election to the Board at the Annual General Meetlng.
in
f Directors
Following appointment, Director5 are requlred to attend a meeting with the Chair and Chlef Executlve at whlch..
the Trust's management structure and reporting prO￿dureS are explained,. and
the Director's obllgations under Charity and Company Law are explained.
At that meetlno explanatory training memoranda are provided to the Dlrector, sourced from the Charity Commlsslon or
internally generèted. Thereafter Directors are invited to attend various relevant courses when they become avallable.
xecu
Details of Board Members and changes up to the date of adoption of these accounts are shown on Page 5. An
explanation of the Management structure Is provided on Page 31. The rnetnbers of the Executive Board did not receive
èny amounts as reimbursed expenses or fees In 2024 or 2023.
The Trust malntains Dlrectors, Indemnity Insurance on behalf of the Directors.
The Trustees (who are also Dlrectors of Redbridge Sport5 Centre Trust LimSted for the purposes of Company Lawl are
responsible For preparing the Annual Report and the financial statements in accordance with appllcable law and United
Klngdom Generally Accepted Aecountlng Practlce (UK GAAPI.
Company law requi￿5 the Dlrectors to prepare financial statements for each flnancSal year whSch give a true and falr
view of the state of affair5 of the Trust and of the surplus or deficlt of the Trust for that perlod. In preparing those
flnanclal statements, the Directors are required to-.
select suitable accountlng pollcles and then apply them consistently,.
observe the methods and principle5 in the Charltles SORP,.
12

EDBR
po
S CENTRE TRUST LIMIT
make judgements and accountlng estimates that are reasonable and prudent;
state whether applicable accounting Standards have been followed, subject to any materlal departures dlsclosed
and explalned In the financial statements.
prepare the flnancial statements on the going concern ba515 unless It Ss Inappropriate to presume that the Trust
will continue In business.
The Dlrectors are responsible For keeping proper accountlng records which disclose with reasonable accuracy at any
tlme the financial posltlon of the Trust and to enable them to ensure that the financial statements comply with the
Companles Act 2006. They are a150 re5ponslble for safeguarding the assets of the Trust and hence for takin9 reasonable
Steps for the prevention and detection of fraud and other IrregLJlarStles,
The Trustee5 are re5pon5ible for the maintenance and integrity of the corporate ènd financial information included on
the charitable company's webslte. Leglslatlon In the United Kingdom governlng the p￿paratIOn and dissemlnation of
financlal statements may dlffer from legislation in other jurlsdlctlons.
So far as the Dlrectors are aware, there 15 no relevant audit Informatlon (as defined by Section 418 of the Companies
Act 20061 of which the Trust's auditors are unaware, and each director has taken all the steps that he or she ought to
have taken as a dlrector In order to make himself or herself aware of any relevant audit information and to establlsh
that the Trust's auditors are aware of that information.
The Statement of Re¢ommended Practlce 'Accounting and Reporting by Charltles, FR5102 (effective l January 2019)
has been complied with in the preparation of these accounts.
Details of movements in fixed assets are set out in Note 8 to the accounts on Page 25.
The Trust's bulldlngs are Insured on a reconstrurtlon basls In the sum £27.2 Mllllon whith exceeds the net book value
of the fixed assets.
The Executive Board have determined that the target balance on unrestricted funds lfree reserves), not invested in
tangible fixed assets held by the Trust, should approxlmate four months, expendlture lexcludlng depreciatlon
net of
capltal grant amortisatlon). Based on current expendlture levels this would atnount to £70J,QOO.
The establlshment of a fund of free reserves Is reoulred In order to meet the cost of percelved major risks. These have
been Identlfied by the Board as..
Insurable rSsks requiring short term brldglng flnance:
Flood
Fire
A major decllne in usage of a particular facilltyi due to publlc perception of the associated sport.
Growth of alternate local competition, parlicularly in rEspect of gym facilities.
The level of free reserves was malntalned at thls level untll 31 December 20091£719,3421 but fallen to a negative sum
of £1,213,337 {note 13) In the subsequent year5. Thi5 reserves cycle has recurred throughout the life of the Trust, as
free reserves have been bullt up to fund a new capital development Ibelng Phases I to 10) and then been ut11I5ed for
that funding purpose.
Jn accordance with Section 485 of the Companles Act 2006, a resolution to re-appolnt THP Limited as Auditors of the
Trust wlll be proposed at the forthcorning Annual General Meeting.
embers
The Ilabllity of member5 15 limlted to £1 In the event of the Trust being wound up with insuffi'cient funds to meet Its
debts.
roval
ortw
roved by the Board on 31 March 2025 and signed on Its behalf.
Chalr
13

TO THE
CENTRE TRUST LIMIT
OF
REDBRID
Opinion
We have audlted the financial statements of Redbridge Sport5 Centre Trust Llmited (the 'charlty') for the
yeèr ended 31 December2024 whlch comprise the Statement of Flnancial Activlties, Income and
ExpendSture Account, Balance Sheet, Cash Flow Statement and Notes to ihe Financlal Statements, including
a summary of SlgnTficanl accounting policies. The financial reporting framework that has been applied in
their preparation is appllcable law and Unlted Klngdom Accountlng Stèndards, Including Financial Reportlng
standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United
Kingdom Generally Ac￿pted Accounting Practlcel.
In our oplnlon the flnancial 5tatements'.
give a true and fair view of the state of the charity's affairs a5 èt 31 De￿mber 2024 and
of Its deficit for the year then ended,.
have been properly prepared in accordance with Unlted Kingdom Generally Accepted
Accounting Practlce,. and
have been prepared in accordance wlth the requirements of the Companles Act 2006.
Basis for opinion
We condLJCted our audlt In accordance wlth Internatlonal Standard5 on Auditlng (UK) {ISA5 (UK)) and
applicable law. Our responsibilities under those standards are Further descrlbed In the Auditors,
responsibilities for the audit of the financial Statements sectlon of our report. We are independent of the
charlty In accordance wlth the ethlcal requlrements that are relevant to our audlt of the financial statements
in the UK, Including the FRC'S Ethical Standard, and we have fulfilled our other ethlcal responsibilities In
accordance with these requirements, We believe that the audit evSdence we have obtained Is sufficlent and
appropriate to provlde a basis ft)r our oplnlon.
ConclusTons relating to going concern
In auditing the financial statements, we have concluded that the dlrectors, (referred to fmm here as trustees)
use of the 90ing concern basis Of èccounting in the preparation of the flnancial statements is approprlate.
Based on the work we have performed, we have not identifled any materlal uncertainties relatlng to events
or condltlons that, individually or collectively, may cast signiftcant doubt on the charity's abllity to contlnue
s a golng concern for a period of at least twelve months from when the flnancial statements are aulhorised
for Issue. We have however noted the disclosures In relatlon to going concern on page 21 and confirm that
these are sufficient.
Our responsibllltles and the responsibilities of the trustees with respert to going concern are described In
the relevant sections of this report.
other Snformatlon
The trustee5 are responsible for the other Information. The other information comprises the Informatlon In
the Straleglc Report, the ChSef Executive and Chalr's Annual Reports and the Report of the Executive Board,
b(Jt does not Include the financial 5latements and our Report of the Audltots thereon.
Our oplnlon on the flnancial statements does not cover the other information and, except to the extent
otherwise explicitly stated in our report, we do not expres5 any form of assurance conclusion thereon.
In connectlon with our audlt of the flnancial statements, our responsibility is to read the other information
and, in doing 50, con5Ider whether the other informatlon is materially inconsistent wlth the financlal
statements or our knowledge obtained In the audit or othenvlse appears to be materially misstated.
If we idenlify such materlal inconsistencies or apparent material misstatement5, we are required to
determine whether this gfves rlse to a material misstatement In the financlal statements themselves. If,
based on the work we have performed, we conclude that there Is a material misstatement of thls other
information, we are required to report that fact. We have nothing to report In thls regard.
Opinions on other matters prescribed by the Companies Act 2006
In our oplnlon, based on the work undertaken in the course of the audlt..
the Information glven In the Strateglc Report, the Chief Executive and Chalr's Annual Reports
and the Report of the Executive Board for the flnancial year for which the flnancial statements
are prepared 15 conslstent with the financial statements,. and
the Strateglc Report and the Report of the Executive Board have been prepared in accordance
with appllcable legal requirements.
14

INDEPENDENT AUDITORS, REPORT TO T
ED
RTS CENTRE T
UST LIMI
BER
Matters on which we are required to report by exception
In the light OF the knowledge and understanding of the charity arid Its envlronment obtalned in the course
of the audit, we have not Identlfled materlal misstatements in the Strateglc RepL¥rt or the Report of the
Executive Board.
We have nothing to report In respett of the following matters where the Companies Act 2006 requlres us to
report to you if, in our opinion..
dequate accounting records have not been kept, or returns adequate ft)r our audlt have not
been received from branches not visited by us,. or
the financial statements are not in agreement with the accoLJntSng records and returns,. or
certain disclosure5 of trustees, remuneration specified by law are not made,. or
we have not received all the ififortnation and explanations we require for our audit.
Responsibilities of trustees
As explalned more fully Sn the Statement of Tru5tees' Responsibilities set out on pages 13 and 14, the
trustee5 are responslble for the preparation of the flnancial statements and for being sat15fled that they glve
a true and fair view, and for such Internal control as the trustees determlne necessary to enable the
preparation of ftnancial statement5 thèt ère free from material misstatement, whether due to fraud or error.
In preparlng the financlal statements, the trustees are responslble for assessing the charlty's ablllty to
contlnue as a going concern, discloslngi as applicable, matters related to going concern and using the golng
concern basls of accounting unless the trustees elther Intend to liquidate the charlty or to cease operations,
or have no reallstic alternallve but to do 50.
Auditors, responsibilities for the audlt of the financial statements
Our objectlves are to obtaln reasonable assurance about whether the financial Statements as a whole are
free From material tnisstatement, whether due to fraud or error, and to issue a Report of the Audltors that
Includes our opinion. Reasonable assurance Ss a hlgh level of a55urance, but Is not a guarantee that an audlt
onducted in accordance wlth JSAS (UK) will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are consldered material if, individually or In the aggregate,
they could reasonably be expected to influence the economic declslons of users taken on the basis of these
flnanclal statements.
The extent to which the audlt was considered capable of detectSng irregularities including fraud
Our approach to identifying and a55essSng the risks of malerial misstatement In respect of irregularitles,
including fraud and non-compliance with laws and regulations, was as follows..
the engagement partner ensured that the engagement team collectively had the appropriate competence,
capablllties and skills to identSly or recognise non-compliance with appllcable laws and regulations.
we identified the laws and regulatlons applicable to the charlty through dlscussions with trustee5 and other
management, and from our commerclal knowledge and experience of the sector In which the charity
operates,.
we fticused on specific laws and regulations which we consldered may hève a direct materlal effect on the
financlal statements or the operations of the charlty, IncludSng the Companies Act 2006, Charities Act 2011,
data proteclic>n, anti-briberyl employment, safeguarding, envlronmental and health and safety leglslation;
we assessed the extent of compliance with the law5 and regulatlons ider)tlfied above through maklng
enquiries of management and in5pectlng legal correspondence,. and
identified laws and regulations were comrnunlcated wlthln the audit team regularly and the team remalned
alert to instances of non-compllance throughout the audlt.
We asse55ed the susceptibility of the charity's flnancial statements to materlal mlsstatement, Includlng
obtaining an understandlng of how fraud might occur, by..
making enqulrles of management as to where they con51dered there was susceptibility to fraud, their
knowledge of actual, suspected and alleged fraud,. and
onsldering the Internal controls In pSace to mltlgate rlsks of fraud and non-compllance with laws ar4d
regulations.

INDEPENDENT
REDBRI
DITORS, REPORT TO THE
TS CENTRE TRUST LI
MBER
OF
In response to the risk of irregulèrltles and non-compliance wlth laws and regulatlons, we deslgned
procedures which Included, but were not11mited to..
agreeing financlal statement disclosures to underlylng supporting documentatlon;
enquiring of management as to actual and potentlal IltlgatiDn and claSms', and
revlewing correspondence with HMRC, The Charities Commission and any olher relevant regulatory bodies
a5 requlred.
There are 1r)herent limltations In our audit procedures described above. The more removed that laws and
regulatlons are from financial tran5aCtlons, the less likeSy it 15 that we would become aware of non-
compllance. Audltlng standards a150 limlt the audlt procedures required to identlfy non-compliance with
laws and regulètion5 tts enqulry of the director5 and other management and the inspection of regulatory
and legal correspondence, if any. Material mi5Statement5 that arlse due to fraud can be harder to detect
than those that arlse from error as they may Involve deliberate concealment or collusion.
A further description of our responsibilities for the audlt of the financial statements Is located on the Flnanclal
Reportlng Council's website at www.frc.org.uk/audltorsre5ponsibilitie5. Thls descrlption forms part of our
Report of the Audltors.
Use of our report
This report Is made solely to the charity'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 mlght state to the charity's
members those matters we are required to state to them in a Report of the Auditors and for no other
purpose, To the fullest extent permitted by saw, we do not accept or assume responsibility to anyone other
than the charity and the charity'5 members as a body, for our audlt work, for thls report, or for the oplnlons
we have formed.
Andrew Green LLB FCA (Senior Statutory Audltor}
for and on behalf of THP Limited
Chartered Accountants
and Statutory Audltors
34-40 High Street
Wanstead
London
EII 2RJ
Date.. 31 March 2025
16

REDBRIDGE SPORTS CENTRE TRiJST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Restricted
Funds
(Capital
Grants)
Unrestricted
Fund (Income
and
Expenditure
Account)
2024
Total
Total
2024
2024
2023
INCOME..
Income from generated funds
Investment Income
Restricted Funds
Income from charita ble actlvltles
Membership Fees
Use of Facilities
6,884
6,884
10,000
12,243
10,000
289,143
2 161 124
289,143
2 161 124
281,640
1 921 763
Tota l income
2457 151
2 467 151
2 215 646
EXPENDITURE
Cha ritable Actlvlties (Note 3)
Governa nte Costs (Note 4)
other Resources Expended
Interest Charges {Note 21)
2,644,617
38,470
2,644,617
38,470
2,529,489
18,806
Total Expendlture
2 766 000
2 766 000
2 629 210
NET MOVEMENT BEFORE TRANSFEFiS
10,000
1308,849)
{298,849)
14 13,5641
GROSS TrAN5FERS BETWEEN FUNDS
Amortlsation of Capital Grants
1175,6521
175,652
NET MOVEMENT IN FUNDS
(165,652)
(133,1971
1298,849)
(413,5641
RECONCILIATION OF FUNDS
Tota l Funds Broug ht Forward
4 321 176
501 942
4 823 118
5 236 682
Total Funds Carrfed Forwa rd
4,155,524
368,745
4,524 269
4,823,118
The only movement in restrlcted funds In the prlor year was the amortlsation of capital grants of £199,071 which was
released to unrestncted funds.
The notes form part of thls statement.
All income and expendlture derive from contlnulng activities.
17

RED8RXDGE SPORTS CENTRE TRUST LIMITED
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Note
2024
2023
TURNOVER
Membership Fees
Use of Facllltles
289,143
2 161 124
2,450,267
281,640
1921 763
2,203,403
COST OF SALES
Dlrect C05t5
Allocation from Restrlcted Fund In respect of a mortisation of
Ca pital Grants
{1,716,5811
(1,618,828)
175,652
199,071
1 540 929
1419 757
GROSS REVENUE SURPLUS
909,338
783,646
ADMINISTRATIVE EXPENSES
1966,506)
1929,4671
OPERATING DEFIC
(57,168)
(145,821)
INTEREST RECEIVABLE
6,884
12,243
INTEREST PAYABLE
21
DEFICIT FOR THE YEAR
12
133 197
214 493
The notes form part of this Income and Expendlture Account.
The Statement of Financial Actlvltles on page 17 provides further details of movement5 In funds.

REDBRIDGE SPORTS CENTRE TRUST LIMITED (COMPANY NO: IOQ0490)
BALANCE SHEET
AS AT 31 DECEMBER 2024
Note
2024
2023
FIXED ASSETS
Ta nglble Assets
5,737,606
6,018,971
CURRENT ASSETS
Debtors
Cash at Bank and In Hand
205,4 17
175 097
380,514
138,521
314 642
453,163
CREDITORS .. DUE WITHIN ONE YEAR
Bank Loan
other Loan
Trade Credito
Taxation & Socia I Security
Accruals and Other Credltors
Deferred Income
io
1,028,348
1,000
96,155
42,529
137,084
271 531
1,576,647
57,000
1,000
75,132
34,102
128,393
235 163
530,790
20
NET CURRENT ILIABILrnESIIASSETS
11,196,133)
(77,627)
TOTAL ASSETS LESS CURREwf LIABILrrtES
4,541,473
5,941,344
CREDtroRS.' DUE MORE THAN ONE YEAR
io
{1,03 1,9461
PROVISIONS FOR LIABILITIES
23
{17,204)
(86,2801
NET ASSFrs
4 524 269
4823 118
THE FUNDS OF THE CHARITY
Restricted - Capital Grants
Un￿StrICted Income and Expendlture Accounts
4,155,524
368 745
4,321,176
501 942
12
TOTAL CHARrtY FUNDS
14
4 524 269
4 823 118
ial statements were approved by the Board on 31 March 2025 and signed on its behalf.
Chair
The notes form pèrt of thls balance sheet.
19

REDBRIDGE SPORTS CENTRE TRUST LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
CASH FLOW FROM OPEPATING ACTIVITIES
35,767
130,7231
CASH FLOWS FROM LNVESTtNG ACTIVITIES
Interest Income
Purd)ase of tanglble flxed assets
6,884
(48,685)
12,243
(78,680}
CASH PROVIDED (USED INI18Y INVEStING ACTIVITIES
CASH FLOWS FROM FJNANCING ACTIVITIES
Interest pald
Repayment of loan
Restricted fund re￿iVed
182,913)
160,5981
{80,9151
{59,3701
CASH (USED BY) FINANCING ACTtvrrtES
133 511
140 285
(Decrease) in cash and cash equivalents in the year
139 545
237 445
Cash and cash equlvalent5 at the beglnnlng of the year
314,642
552,087
TOTAL CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR (Note 22}
175 097
314 642
RECONCILIATION OF NET MOVEMENTS IN FUNDS TO NET CASH FROM OPERATING
ACTIVThIES
2024
2023
Net mOve￿Ent In funds
Add back depreclatlon charge
Deduct interest income shown in investlng artfvitles
Add back interest payable
IJncrease)/decrease In stock
Ilncrease) In debtors
Increase In credltors
Decrease in provisions
Grant re￿1Ve￿
NET CASH GENERATED BY OPERATING ACTIvrriES
(298,849)
330,050
{6,884)
82,913
(413,564)
359,957
112,2431
80,915
2,446
19,7701
138,464)
166,896)
74,509
169,076)
20

REDBRIDGE SPORTS CENTRE TRUST LIMITED
ACCOUNTING POLxcIes
FOR THE YEAR ENDED 31 DECEMBER 2024
General Inforrnatio
The charity is a private charitable company Ilmited by guarantee and reglstered in England & Wales. The charltable
company's registered number and registered offiTr address can be found on the Company Information page.
The charlty's functlonal and presentatlon currency is the pound sterllng.
The flnancial statements have been prepared in Compl$an￿ with Accounting and Reportlng by Charities.. Statement of
Recommended Practice applicable to charltles preparlng thelr accounts In accordan￿ with the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021 {effective l January 20191- (Charities SORP IFRS
102)), the Flnancial Reportlng Standard app5icable In the UK and Republic of Ireland (FRS 102), Companles Act 2006
Bnd the Charltles Act 2011.
The Trust meets the delinitlon of a pub11c benefit entity under FRS 102. Assets and liabllltles are Initlally recognlsed at
historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
These financial statements have been prepared under the historical c05t CDnventlon.
The accounts, despite a £57,168 operatlng deflclt (compared to £145,821 in 2023) and £1,196,133 net current
Ilabllit1es {compared to £77,627 in 20231, are prepa￿d on a golng concern basis.
The increase in the net c(Jrrent liability posltlon Is predominantly due lo the whole of the bank loan of £1,028,348
belng shown as due in less than one year, as final repayment was orlgSnally due in June 2025. On 5 March 2025, the
Trustees received confirmation from the bank that, subject to final priclng approval, the loan will be refinanced into a
new £1.5m facillty amortlslng over 15 years. The additlonal funds secured will settle the existlng loan and enable the
Trustee5 to make additional capital investments in the Centre's infrastructure.
Day-to-dèy worklng capStal needs are met through cash flows and reserves, while major projects are financed by
grants and working capital. Detailed budgets and forecasts for the next 12 months indicate sufflclent cash flow.
Trustees affirm the decision to prepare fi'nanclal statements on a goln9 concern basis after thorough evaluation of
relevant factors.
Estimates and judgements are continually evaluated and are based on historical experien￿ and other factors, Includlng
expectation5 of future events that are believed to be reasonable under the CIrcumstan￿S.
a) Crltlcal judgements in applying the entity's accounting policies
There are no speclflc Judgements, apart from those involving estimates as detalled below, that management has rllade
In the prO￿5S of applying the entity's accountlng policies that have a significant effect on the amounts ￿CogniSed in
the flnancial statements.
b) Critical accounting estimates and assumptions
The charity makes estlmates and assumptions concerning the future. The resulting accounting estimates can differ From
the related actual results. The estimates and assumptions that have a significant risk of causlng a material adjustment
to the carrying amount5 of assets and IlabS1ities withln the next financial year are addressed below.
lil Usefijl economic Ilves of tangible assets
The annual depreciation charge for tanglble assets is sensitive to changes In the estimated useftjl lives and residual
values of the assets. The useful economSc lives and resldual values are re-assessed annually. They are amended when
necessary to reflect current estimate5 based on technologlcal advancements, future investments, economic utS1isatlon
ènd the physlcal condition of the assets. See note 8 for the carrying amount of tanglble assets and below for the
depreoation policy in respect of each class of asset.
Turnover consists of cash takings, membershlps and booklngs income, net of value added tax. Life membership fees
are taken to the Income and Expenditure Account In equal instalments over six years. Annual membershlp fees are
taken to the Income and Expenditure Account over the duratlon of the calendar year to which they relale. Income from
booking5 is recognised in the period in which the activity takes place.
21

REDBRIDGE SPORTS CENTRE TRUST LIMITED
ACCOUNTING POLXCIES {Continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
eceiv
le
Grants related to expenditure on tanglble flxed assets are credited to the Income and Expenditure Account over the
lives of those assets. Total grants recelvable less the aggregate amounts credlted to the Income and Expendlture
Account at the Balance Sheel date are included in the Balance Sheet as Restrlcted Funds.
Revenue Grants are accounted for on a recelvable basls.
recTatio
Fixed assets are dep￿dated to wrlte off thelr cost over thelr useful Ilves at the fvllowlng rates per annum on a stralght
line basls..
Freehold Land
Freehold Bulldlngs
Furniture & Equipment
Computers
Gym Equlpment
other
Not depreclated
3.330/0 to 10%
33%
200h
IOO/o to 15%
Depreclatlon on major acqulsitions commenTrs In the month followlng flrst use. Other fixed assets are depreciated for
a full year in the year of acquisltlon. A minimum level for capitalisation of flxed assets has been set at £250. Items
costing less than that amount are Immedlately written off in full to the Incorme and Expenditure Account on acquisition.
Computer software costs are immediately written off in full to the Income and Expenditure Account on acquisltlon.
Flxed assets a￿ reviewed on an ongoing basls for Indlcatlons of Impalrment.
stock Is stated at the lower of cost and selllng prlce less costs to complete and sell, after maklng due allowance for
obsolete and slow moving items. Stocks are recognlzed as an expense in the period in which the related revenue is
recognized.
The Trust participates In a defined contributlon penslon scheme for staff and the penslon charge represents the amounts
payable by the Trust to the fund In respect of the year.
Iirecoverable VAT Is charged as a cost wlthln administrative expenses.
Invol￿d Income, relatlng to services to be provided after the f(nanclal year end, is classified in the balance sheet as
Deferred Income, whlch also Includes the deferred element of life and annual membershlp fees.
Cost Allocatlo
The Income ènd Expenditure Account include5 an allocation of costs between Cost of Sales and Admlnlstratlve Expenses.
Cost of Sales primarily consists of Depreciation, 60Vo of payroll costs and certain premises expenses. All other costs are
allocated as Administrative Expenses.
All costs are deemed to relate to charitable actlvltles except for professional fees that relate solely to the governan
of the Charity.
Financial Instrumen
The trust only has flnanclèl assets and 1Sablllties of a kind that qualify a5 basic flnanclal Instruments.
22

REDBRIDGE SPORT5 CENTRE TRUST LIMxfED
NOTES ro THE STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
RESTRICTED F
The Restricted Funds reprtsent grants ￿te1ve￿ in respect of capltal and other expenditure, not yet amortlsed
to the Income and Exper)diture Account.
The Unrestrlcted Fund represents the Income and Expenditure Reserve, whlch Is not subject to any re5trlctlons,
other than In respect of furtherlng the Trust's charltable objects.
RESOURCES EXPENDED: CHARITABLE ACTJvrriES
ReSoUr￿S expended on Charitable Actlvltles are analysed as follows..
2024
2023
Payroll Costs {Note 6}
Depreclation (Note 8)
Externa l Advertising
Light and Heat
Premises and equlpment malntenance and repalr
Insura nce
othercosts
1,455,432
330,050
6,116
320,371
155,163
133,214
244,271
1,397,771
359,957
8,432
188,320
156,647
102,653
315,710
2 644 617
2 529 489
RESOURCES EXPENDED . GOVERNANCE COSTS
Resources expended on Governance Costs a re analysed as folltsws..
2024
2023
Audit Fee
Professlonal Fees
ID,210
9,913
23

REDBRIDGE SPORTS CENTRE TRUST LXMIYED
NOTES TO THE INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
OPERATING RESULT
The result for the year is stated after the followlng..
2024
2023
Depreciation
Audltors, Remuneration
Audlt Fees
Accountlng and Flnanclal Reportlng
330,D50
359,957
10,210
5,240
155,163
9,913
5,087
156,647
Emolurnent5 of Chlef Executlve
Remkjneratlon
Penslon Contrlbutlons
After creditin
Release of capltal grants
76,775
7,810
89,175
9,140
175 652
199 071
PAYROLL COSTS
The total payroll costs are analysed a5 follows..
2024
2023
Salarle5
Employer's Natlonal Insura nce
Penslon Costs
Self-Employed Contractor
1,288,731
87,351
30,741
1,208,865
79,518
34,161
1 455 432
1 397 771
The average number of employees durlng the year was:
2024
Number
114
2023
Number
iio
19
129
Operatlonal
Management and admlnlstratlon
135
No employees earn over £60,QOO, except the Chlef Executive whose remuneratlon Is dlsclosed In Note 5 above
and is authorised by the Trust's Artlcles of Associatiori. None of the Dlrectors are remunerated in their capacity
as Trustees. The Trustees are deemed to be the key management of the Trust for the purposes of disclosure
under FRSIO2.
7. TAXATION
The Charlty is exempt from tax on Income and galn5 Wlthin Sectlon 505 of the Taxes Act 1988 or section 252 of
the T3xation of Chargeable Galns Act 1992 to the extent that these are applied to its charitable objects.
24

REDBRIDGE SPORTS CENTRE TRUST LXMYTPD
NOTES TO THE BALANCE SHEET
FOR THE YEAR ENDED 31 DECEMBER 2024
TANGIBLE FIXED ASSETS
Freehold
Land
Freehold
Bulldlngs
Furnlture &
Equipment
Total
Cost
Bala n￿ 1/112024
Additlons
Disposals
619,167
13,106,241
44,094
856,109
4,591
14,581,517
48,685
Balance 3 111212024
619 167
13 150 335
860 700
14 630 202
De
reciatio
Balance 1/112024
Charge for Year
Dlsposals
7,831,658
292,238
730,888
37,812
8,562,546
330,050
Balance 3111212024
8 123 896
768 700
8 892 596
At 31/IV2024
619 167
5 026 439
5 737 606
At 3111212023
619 167
5 274 583
125 221
6 018 971
All fixed assets are utilised by the Charlty In meeting Its charitable objects.
25

REDBRXDGE SPORTS CENTRE TRUST LIMXTED
NOTES TO THE BALANCÈ SHEET (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
DEBTORS
2024
2023
Trade Debtors
Prepayments a nd accrued income
Redbrldge Sports Centre Sodal Club
67,952
116,142
21,323
205 417
37,040
99,637
1,844
138 521
io.
CREDrroRS: DUE MORE THAN ONE YEAR
2024
2023
Bank Loan
1 031 946
Bank Loan
The Trust refinanced in May 2020, taklng out a 5 year Floating rate ter￿ loan. The loan was interest only
for the first 12 months and reverted to capital repayment In June 2021, with a lurnp sum repayment to
repay the 103n In full in June 2025. The Trijst is currently In dlscussion wllh the bank to refinance. The
inlerest rate on this loan Is 2.65% over Bank of England Bank base rate (at the year end 4.75%).
An analysls of the MatUr￿Y of IDans 15 glven below..
2024
2023
Falllng due w ithin one year..
Falllng due between one and two years..
Falllng due between two and five years
1,028,348
57,000
1.031,946
11. RESTRICTED FUNDS
Funds ￿ceiVed in respect of flxed asset and other expendlture:
2024
2023
Balance at beglnnlng of year
Grants received
Grants released
Balance at end of year
4,321,176
10,000
175 652
4 155 524
4,520,247
199 071
4 321 176
Included within other cre(51tor5 on the balance sheet are -fund5 hel(J- fvr restrlcted purpose5 of
£25,649 (2023: £32,129).
26

REDBRIDGE SPORTS CENTRE TRUST LIMITED
NOTES TO THE BALANCE SHEET (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
12. UNRESTRICTED FUND- INCOME AND EXPENDThURE ACCOUNT
2024
2023
Balance at Beglnnlng of year
(Deficltl for the year
Balance at End of Year
501,942
133 197
368 745
716,435
214 493
501 942
13. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Tanglble Flxed
Assets
Other Net
(LiabilTties)/
Assets
Totsl
Restrltted Funds - Grants
Unrestricted Funds
4,155,524
1582 082
4,155,524
358 745
4 524 269
1 213 337
14. MOVEMENT ON TOTAL FUNDS AND RESERVES
2024
2023
Income and Expenditure (Deficlt)
Capital grant
Grant release (See note 11)
(133,197)
10,000
175 652
1214,4931
199 071}
Movement for the year
{298,849)
(413,564}
Total Funds and Reserves at beginning of year
4 823 118
5 236 682
Total Funds and Reserve5 at end of year
4 524 269
4 823 118
15.
OPERATIONAL COMMITMENTS
At 31 De￿mber 2024 and 2023 the Trust had no annual commltments under non-cancellable operating leases.
27

REDBRIDGE SPORTS CENTRE TRUST LXMXTED
NOTES TO THE BALANCE SHEET (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
16.
CAPITAL COMMITMENTS
Contracted but nol provided for in these acctsunts £NII 12023.. £7,295).
17.
SECURED DEBTS
The Bank Loan of £1,028,348 12023.. £1,088,946) Is secured by a fixed and floating charge over part of the
Trust's freehold propertles and other assets. The other freehold properties are Secured in favour of several of
the major capital grant provlders.
The Trust also has an overdraft facility of £75,000 agreed wlth the bank, though this has not been utlllsed slnce
it wa5 made available.
18.
RELATED PARTY TRANSACTIONS
The Redbridge Sports Centre Soclal Club is a separate entity which operates the bar and ancillary facilities at
the Sports Centre. At the year end the Redbrldge Sports Centre Social Club owed E21,323 to the Trust12023'.
£1,844).
During the year the Trust raised a management charge of £7,20012023'. £7,200) to the Social Club for various
costs incurred on their behalf and charged the Soclal Club rent of £3,60012023.' £3,600). The Trust contrlbuted
to the catering costs of the Social Club of £12,00012023.. £12,000).
19.
INVESTMENT INCOME
Investment income of £6,88412023'. £12,243) arises from money held In Interest bearing deposit
accounts.
28

REDBRIDGE SPORTS CENTRE TRUST LIMITED
NOTES TO THE BALANCE SHEET (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
20.
DEFERRED INCOME
Deferred Income comprises sales invoices raised in advance in relation to long term booklngs and
membershlp relating to 2025.
Balance as at 01/0112024
Amount released to income earned from charitable artlvities
Amount deferred In year
Balance as at 3111212024
225
(230,7751
267 143
21.
INTEREST PAYABLE
2024
2023
On Bank Loans
22.
CASH AND CASH EQUIVALENTS
The amtsunts disclosed on the Cash Flow Statement in respect of cash and cash equlvalents are in
respect of these Balance Sheet amounts..
2024
2023
Total cash and cash equivalents
175,097
314,642
23. PROVISIONS
The Trust makes a provlslon, based on existlng data, for its full legal obligations in relatlon to the costs of its
premise5.
2024
2023
Premises costs provision
17,204
86,280
Balan￿ at l January 2024
Released in the year
86,280
169,0781
Balan￿ at 31 December 2024
17,204
29

REDBRIDGE SPORTS CENTRE TRUST LIP41TED
OACKGROUND OF TRUST
march 1968
Loss of North Ilford LTC'S facllitles at Beehlve Lane, comprising- 8 tennls courts, I badmlnton hall, I
table tennis room, through grant cif planning permission lo landlords to build houses on 5Ite
compensation £1,000.
April 1968
Announced intention to build a Sports Centre which wotjld be financi311y viable. Sports Centre Bulldlng
Committee formed.
1968 - 1972
Fund raising
original target £40,000 rapidly rose over the perfod to over £lOO,000.
November L970 Redbrldge Sports Centre Trust Llmlted formed a company limited by guarantee and registered as
a charity. All funds previously raised in the name of NILTC transferred into the charity.
March 1971
Bullding started Phase X. Indoor facilities then comprised.. Sport5 Hall,. 5 badminton courts to
nternatlonal standard las at present),. 4 squash courts. a games room, changing Facilities for 100
men and 70 ladSes, and outslde, a car park for 120 cars and 5 tennls courts, Cost, a bargain, at just
£114,277.
20 March 1972
sports Centre opened.
19 June 1972
Official opening by Princess Alexandra.
October 1974
Phase 2 - Managers, offices, games room above and Store at the far end of the Sports Hall.
August 1977
Phase 3 - 5th squash court and tennls pavllion bullt.
July 1980
Phase 4 - 6th and 7th squash courts bullt and Improved offices.
May 1983
Phase 5 All fSve outslde tennls courts ￿-surfaCed with Omniturf (sand filled). All courts and car
park floodlit.
June 1989
Phase 6 -comprislng new Condltloning Room, Health Suite, lounges and activities room. All main
services and fire and safety Installatlons throughout the Centre were upgraded.
Oecember 1991 Freehold of site purchased
August 1994
Part of Oakfield site obtained under long lease for future development
September 1994 Phase 7 - Works commenced on l.T.l. Centre comprising 8 indoor tenn15 courts (opened July 19951,
6 new outdoor court5 (opened November 1994), new fltness and aerObics/dan￿ studios (opened
March 19951.
November 1994 Redbrldge Tennls Club formed, incorporating North Ilford L.T.C.
October 1997
Phase 8 Works commenced to build 2 floodllt synthetic gra55 Pltches and 12 floodllt netball/tennls
court5 on Oakfield and substantlal pavllion
operational from June 1998.
December 2000 Phase 9 gym extension becomes operational
Technogym equlpment in De￿mber 2004.
cardlovascular machlnes replaced wlth new
January 2012
Phase 10 Sport5 Hall, comprlslng 12 Olymplc standard badmlnton courts and anclllary facilities,
opens for publlc and member use.
July-september
Centre is utllised as an Olymplc and Paralymplc Tralnlng Venue for Badminton, Wrestling, Judo 2012
and Goalball.
November 2013 Works completed to replace floodlit synthetic gras5 Pltches.
December 2015 Major gym refurblshment, new equlpment and Improved access Control.
June 2017
August 2019
Improvements to coffee shop, b15tro, spinning studlo and major refurbishment of 8 indoor tennis
courts.
3uly 2024
Upgraded 4 netballltennis courts
30

REDBRXDGE SPORTS CENTRE TRUST LIMITED
ORGANISATION
GOVERNING DOCUMENT
The organisation and operations of the Trust are primarily governed by the Trust'5 Articles of Association (the
Trust's Constitution).
OBJECTS
As defined in the Articles of Assoclatlon, the Trust's main object.is to provide or to asslst In provbdlng facllltles
for recreat10n, physical education or other le15ure tlme occupatlon In or In connectlon wlth the Borough of
Redbrldge and Its ne1ghbourhood".
The Executive Board endeavour to meet this objective by provlding quality sports facllities at affordable prlces.
MANAGEMENT STRUCTURE
The Trust is administered by the Executive Board, all of whom (with the exception of the Chief Executlve)
provlde thelr services on a voluntary basis.
3A
EXECUTIVE BOARD
Comprises..
the Chlef Offlcers appolnted by the Executlve Board, name5y Chalr, Deputy Chair, Hon.
Treasurer, Hon Sollcltor, Hon. Secretary and Chlef Executlve.
Not less than 3 and up lo 8 elected members from the membership by postal vote.
4 nominated members from financlal backers.
up to 2 co-opted members for Iheir speclal knowledge and experience.
Decide5 major policy and financial matters.. meets at least quarterly.
b)
d)
3B
MANAGEMENT COMMirrEE
A formal Sub-committee of the Executlve Board. Monitor5 the continuous efficlent functlonlng Of the
Centre, deciding day to day general pollcy. All members OF the Executlve Board are eligible to attend
and, In recent years, member represenlatSves of actlvltles not otherwise represented have been invited
to attend. The employed managers sit oll the Commlttee for report and lialson.
3C
THE OFFICERS
An informal Sub-ctsmmittee of the Executive Board (comprlsing the ChSef Officers of the Trust and
others appolnted by the Board). The Officers meet monthly to consider matters In depth and make
recommendations to the Executive Board, eg, on staff salaries, annual budget, capital expenditure and
general pollcy.
3D
USE OF UNPAID VOLUNTEERS
With the exception of the Chief Executive, all members of the Executive Board provide their services on
a voluntary unpaid basls. There are no other unpaid volunteers though the Centre does take on young
students from local colleges for work experlence on an unpald basls.
THE STAFF
The Trust currently employs approximately 135 members of staff. Of these about 21 are full-tlme employees
on the basls of regularly worklng a mlnimum of 30 hours a week, wlth the rest part-time.
31

REDBRIDGE SPORTS CENTRE TRUST LIMITED
FXNANCIAL BACKGROUND SUMMARY
FOR THE YEAR ENDED 31 DECEMBER 2024
CAPITAL EXPENDrruRE
Buildings
Origina I Cost
Phase 2
Phase 3
Phase 4
Phase 5
Phase 6
Phase 7
Phase 8
Phase 9
Phase 10
other
Furnlture & Equlpment
Freehold Land
106.697
40,000
28,093
70,000
45,597
665,769
2,131,072
1,978,121
435.976
7,604,916
904,794
619,167
Total
£ 14 630 202
The atFove ca pltal costs have been met from the followlng
sources:
1972 - 2024 Incluslve
Ita l Grants
Deferred - for future release to Revenue Account
Re leased to Revenue Account
Tota l Received
4,155,525
4 496 829
8,652,354
J. Petchey
Ba rclèys Ba nk PIC
Workl
Ca
1.000
775,106
466,764
Income 3 nd Expenditure Account
Depreciatlon
Transfer fro￿ Capit61 Grants
368,745
8,863,062
4 496 829
4,734,978
£ 14 630 202
All income generated by the Centre has been ploughed back IOOWO towards meetlng runnlng costs and providing new
or improved faclllties as set out In thls Report. No subsidy toward5 runnlng costs has been recelved at any stage slnce
the Centre opened In 1972.
32

REDBRIDGE SPORTS CENTRE TRUST LIMITED
FINANCIAL BACKGROUND SUMMARY
FOR THE YEAR ENDED 31 DECEMBER 2024
Capital and other grants lincludlng Glft-Ald where relevant) have been received from the following sources as at
3111212024..
Sources
Olymplc Dellvery Authorlty
National Lottery (inc Sport England)
Law n Tennls Assoclatlon
London Borough of Redbri(Jge (re la nd tra nsaction)
Athenaeum Lawn Tennls Club
Badmlnton Engla nd
Sports Council
London Marathon
Engla nd Netball
Football Foundation
Foundatlon For Sports & Arts
Terry Brown
Paul Clarke
Petchey Properties PIC and Jack Petchey Foundation
Engla nd Hockey
Essex County Tennis
iffa
Lafarge
Footb311 Association
Grange Farm Trust
Engla nd Netball
Others
3,339,391
2,934.313
742,500
sio,000
500,000
300,000
258,318
250,000
200,000
200,000
140,000
129,205
113,895
112,210
98,000
80,000
44,000
37,125
35,000
20,000
10,000
96,379
Total Cè pita l Gra nts Received
10 150 336
33