SPORTS ET LEISURE
SErving thE :_
SErious about
.iunity
REDBRIDGE SPORTS CENTRE TRUST LIMITED
(Limited by Guarantee)
Company Number: 1000490
Charity Number.. 303187
REPORT AND AUDITED ACCOUNTS
2025

REOBRIDGE SPORTS CENTRE TRUST LXMITED
2025 REPORT AND AUDXTED ACCOUNTS
Contents
Financlal Results at a G1an￿.............................,......
Notlce Of Annual General Meetlng.............................
Trust Offlclals.........................................
Chair's Annual Report
Chlef Executlve's Annual Report.
Strateglc Report..................................
Report Of The Executive Board.............................,.
IndependentAudltors' Report........................................
Statement Of Flnan¢ial Activities
.12
.15
Jncome And Expendlture Account .
Balance Sheet..........................
.16
.17
Statement Of Cash Flows .
.18
Accounting Pollcles
Notes To The Statement Of Flnanclal Actlvltle5.
Notes To The Income And Expenditure Account.
Notes To The Balance Sheet .
.19
.21
.22
.23
Organisation
Flnanclal Background Summary...................
.29
.30

REDBRIDGE SPORTS CENTRE TRUST LIMITED
FINANCIAL RESULTS AT A GLANCE
FOR THE YEAR ENDED 31 DECEMBER 2025
2025
2024
INCOME AND EXPENDITURE ACCOUNT (page 16)
Turnover
Cost of Sales
Admlnlstratlve Expenses
Net Interest Expenses
2,596,472
(1,619,547}
(1,112,667)
{73,224}
2,450,267
11,540,929)
(966,506)
(76,029)
(Deflclt) for the year
208 966
133 197
BALANCE SHEET (page 17)
Tanglble Flxed Assets
Net Current (Llabllities}/Assets
Creditors.. Due more than one year
Provisions
5,639,264
(85,2311
(1,394,402)
5,737,606
{1,196,133}
(17,204)
4 524 269
Net Assets
4 159 631
Restricted Funds
Unrestricted Funds
3,999,852
159,779
4,155,524
368,745
Total Funds
4 159 631
4 524 269
CAPITAL EXPENDITURE (page 23)
Capltal add Itlons durlng the year
201 768
MEMBERSHIP NUMBERS
Number
(Februa ry 2026)
Number
(February 2025
Life
Ultra/Easyplay/Executlve
Prlnclpal/Reds
Off Peak
studentlYouth/Juniorllnfa ntlE.C.L.T.A.
1,736
1,542
68
17
1,739
1,410
77
22

STLI
ITED
(A Company limited by Guarantee, not havlng a share
capital and Reglstered under the
Charitles Act 19601
COMPANY NUMBER". 1000490
CHARXTY REGXSTRATION NUMBER: 303187
NOTICE OF ANNUAL GENERAL MEETING
2 March 2026
Redbridge Sports Centre
Forest Road
Barklngslde
Essex
IG6 3HD
Tel.. 0208 498 1000
Dear Slr or Madam
The flfty flfth AWNUAL GENERAL MEETING of REDBRIDGE SPORTS CENTRE TRUST LIMITED will be held in person In the
Edna Clarke Cafe in the Jean Brown Indoor Arena, Redbrldge Sports Centre, Forest Rd, Barklngslde, Essex on Monday
18 May 2026 at 7pm. I hope you wlll flnd It posslble to attend.
Members attending the meeting should brfng thelr membershlp cards wlth them and must complete an admlsslon sllp
on entering the meeting.
Yours falthfully
Carolynne Spen¢er
Hon. Treasurer
To confirm the minutes of the Annual General Meetlng held on 19 May 2Q)25.
To deal wlth correspondence {if any) and re￿5Ve apologies ft>r absence.
To recelve and, If approved, adopt the audited accounts for the year ended 31 December 2025.
To receive the Chair's Annuol Report.
To report the results in respect of elertlon to the Executlve Board.
To appolnl Audltors for the ensuing year.

RETR
ANY
TY NUMBE
AND
Forest Rtsad
8arking5ide
Essex
IG6 3HD
ADDRE
USTEE
Ras Gohll
TY CHAIR
Jane Kelloe
Carolynne Spencer
CHIEF EXE
Wayne Alexander
ECUTIVE B
Jane Kelloe
Carolynne Spencer
Khyam Choudhry (Reslgned 1910512025)
Anne NcNelll
Ola Asgill (Appolnted 1910512025)
Raheel Mallk {Appolnted 1910512025)
Ras Gohll
Eric Brown
Cllr. Joyce Ryan
Cllve Rlppon {Deceased 2011112025)
Cllr. Bob Chattaway
Zelal Baccus Islam (Appolnted 1910512025)
COMP
Carolynne Spencer
Matthew Reynolds (Appolnted 0110212025)
ATUTORY
THP Llmited
34-40 Hlgh Street
Wanstead
London
EII 2RJ
Barclays Bank PIC
83185 Hlgh Street
Barklngside
Ilford
IG6 2AQ
The Trust's Artlcles of Association include a requlrement that the Executlve Board shall Include four nomlnated members,
belng representatlves of Bodles who supported the Trust from its inceptlon. Those Bodies and thelr representatives are
as follows:
Essex CoLJnty Lawn Tennis As50clatlon
Essex County Badmlnton Assoclation
London Borough of Redbridge
Cllve Rlppon (Deceased 2011112025)
Erlc Brown
Cllr. Bob Chattaway

HAIR'S ANNUAL REPORT 2025
Over 2025, Redbrldge Sports Centre Trust Llmlted navlgated a year deflned by conslderable
economic change and operational challenge following the UK Governrnent'5 ALJturnn Budget
of 2024. These conditions demanded disciplined financial management, decisive
leadershlp, and an enduring commltment to deliverlng h5gh-qualitYi accesslble sport and
leisure opportunities for the Redbridge community.
Flnanclal and Economlc Context
The Autumn Budget Introduced fiscal measures wlth dlrect and materlal impllcatlons for
charities and leisure operator5. The rise in employer National Insurantr tontributions from
13.8% to 15%, palred with the lower threshold of £5,000, led to a significant escalation in
payroll costs. Alongs1de thls, the Increase In the Natlonal Llvlng Wage to £12.21 per hc*ur
from Aprll 2025 placed addltlonal pressure on labour-lntenslve organlsatlons such as OLJrs.
While contlnued relief withln the retail, hospitality, and lelsure Sector offered some
protection, the reduction in business rate support from 70¥0 to 40% created further upward
pressure on property-related costs.
Amid these headwinds, a fall in the Bank of England base rate, from 4.75% at the close of
2024 to 3.750/0 by December 2025, provlded some rellef through lower Interest payments.
Nevertheless, the cumulatlve Impact of wage Inflatlon, tax adjustments, and perslstent prlce pressures malntalned a
demanding c05t environment. Throughout, the Trust continued its Post-pandemic recovery Strategy.. protecting
affordablllty for members whlle safeguardlng the long-term financlal resIllen￿ of the charlty.
Financlal Performance
The Trust concluded the year wlth a net deflclt of £208,96612024.' £133,197), drlven princlpally by..
Inc￿ased payroll expendlture due to Natlonal Livlng Wage and Natlonal Insuran￿ changes
Rlslng admlnlstratlve and operatlonal costss partlcularly utiiitles and Inflatlon-llnked contracts
Contlnued investment In malntalnlng and Improvlng a large and agelng estate
De5Plte these pressures, turnover rose to £2,596,472 (2024.. £2,450,267), reflecting steady growth in demand for our
servlce5. Membership numbers ￿ached 4,782 by February 2026 {2025'. 4,7201. Though expendlture grew at a faster
pace than income, the ongolng upward trend in both turnover and parliclpatlon offers a solSd foundatlon for
5trengthenlng the Trust's financial positlon in the year5 ahead.
A key achievement was the SUC￿$sful refinancing of the Trust's bank loan, due for repayment in 2025. The new facility
not only extended repayment temis but also provlded addltlonal borrowlng capèclty to support essentlal maintenance
and Improvement work. Thls refinanclng strengthened Ilquldlty, Improved cash flow, anij eAsu￿d compllance with all
banking covenants.
Our balance sheet remains robust, wlth net 355ets of £4,159,631, underplnned by slgnificant restrlcled funds Ilnked
to historic capital grants. Cash and cash equivalents rose to £406,872, reflecting sound working capital management
and prudent use of available flnance.
Operational and Community Highlights
Amid a challenging economlc backdrop, 2025 was nonetheless a year of meaningful progress and achlevement:
Major capital improvements, Includlng the refurbishment of our outdoor netball and tennls courts, relnforclng
our status as a premler sportlng venue.
A major upgrade to heatlng Infrastructure In the Norman Booth BuSldlngi replaclng 50-year-old bollers wlth
modern, energy-efflcient systetns and introdudng advanced building management controls to optimlse heating
zones and reduce energy consumptlon.
Enhanced community engagement, supporting more than 100 clubs and hosting key national, regional, and
county events across tennis, badminton, netball, and gymnastics.
Expansion of emerging activltles, includlng the introduction of Pickleball and growth In both junior programmes
and fitness parlidpatlon.

RU
TLIM
AIR-
ORT
The year also marked the first full cycle under the leadership of Chief Ex8cutlve Waynè Alexander, whose strateg1¢
vlslon and operatlonal acumen have been central In guiding the Trust through thls complex financial landscape.
Governance and Reflectlon$
We were dellghted to welcome three new Trustees In 2025 '. Ola Asg51, Zelal Baecus Islam, and Raheel Malik, each
bringlng a wealth of professlonal expertise and a shared passlon for community-led sport and wellbelng. Thelr comblned
Inslght and experience strengthen the Board's governance capacity and strateglc overslght.
We also note, with deep sadness, the passing of Clive Rlppon In November 2025, a long-servlng Trustee whose
contrlbutlon to the Trust was profound and enduring. Clive played a pivotal role in the development of our indoor tennls
facllltles In 1994 and remalned a devoted advocate for tennis at the Centre throughout hls tenure. His legacy contlnues
to shape our work and values.
The Board extends sSncere thanks to LTrur Executlve Team, staff, volunteers, members, and partners. Their dedlcatlon,
professionallsm, and unrelenting commltment remain the cornerstone of our success,
Looking Ahead to 2026
As we look to 2026, we do so wlth cautlous optlmism and renewed purpose. The Trust Is now operatlonally stronger,
underplnned by..
A more stable and predlctable utlllty cost base
Enhanced cash reserves and Ilquidlty
Contlnued membershlp growth and engagement
A highly capable and commltted leadershlp and staff team
A focused strategy tts maximise utlllsation across all facllltle5, particularly durlng off-peak periods
Our Strategic priority remalns balancing community accessibility with long-term financlal sustainabillty. Whlle we
anticipate ongolng economlc vtslatllity, our mlsslon Is to promote actlve lifestyles and provlde inclusive sportlng
opportunltles for all remains steadfast. with a clear directlon, strengthened foundatlon5, and an endurlng eommltment
to our community, Redbridge Sports Centre Trust enters 2026 confident, resilient, and ready for the future.
Ras Gohll
Chair
Redbrldge Sports Centre Trust Llmlted

It Is my prlvllege to present thls year's Chlef Executive's Report, reflectlng on a perlod
of steady operatlonal progress alongslde slgn1flcant external challenges. Throughout
2025, rising energy costs, economlc uncertainty, and shifting customer behaviour
placed pressure on the sector, yet the organisation continued to perform reliably,
strengthen community engagement, and advance strateglc Investment across the slte.
Our focus remained on resillence, adaptabilityi and dellverlng hlgh-quallty facllltles and
servlces to our members, vlsltors, and communlty partners.
Financial Overview
The Trust achleved Improvlng flnanclal stablllty desplte a demandlng cost envlronment.
Income Increased by 5.9010, driven by strong performance in netball, gymnastics, gym
and elasse5, events, and facility hire. Expenditure remained tightly controlled,. however,
maintenance costs were hlgher than planned due to the age of core Infrastrurture. Early
benefits are already belng seen from the replacement of the Centre's ageing boiler
system. Addltional savings are anticipated from the PV Solar Project, scheduled for
2026.
The secured additional bank loan enabled progress on ¢apital proJe¢ts, Includlng re5urfaclng outdoor netball courts 2-
5, repalrs to the Forest Road access road and car parks, and refurbishment of the yoga roomlspinnlng sludlo wlth new
Technogym bikes, which commenced in December 2025. These investments safeguard the long-term functlonSng and
value of the Cer¢tre.
The Trust implemented targeted rnitigation measures, including utility contract renegotlatlons, careful workforce
planning, and efficiency improvements across operatlons. These actlons helped protect flnanclal stablllty and sustaln
servlce dellvery during a challenglng year.
The fSnanclal trajectory 15 posltlve. Strengthened Income, Improved cost control and ershanced access to capltal pla
the Trust in a more resllient posltion for the year ahead.
Opérational Performance
Operational delivery remained strong across gym and classes, racket sports, gymnastlcs, coached programme5, and
outdoor football and netball. Member retentlon was conslstently hlgh, supported by service enhancements and refreshed
programme content.
The Trust contlnued to wlden partlclpatlon and strengthen communlty engagement, expanding partnerships, increasing
work wlth underrep￿Sented groups, and malntalning accesslble, Incluslve programmlng a¢ros5 all facillties.
Member Successes
Across tennls, gymnastlcs, and plckleball, the organlsatlon enjoyed a year of notable progress and stron9 competitlve
outcomes.
Badmlnton contlnued to be a strong perfomier for the organlsatlon throughout 2025, wlth the Redbrldge team
securing a gold medal at the London Youth Games hosted at Redbridge Sports & Leisure. During the year, RSL also
hosted several Essex County Badmlnton events and two Badminton England events, reinforclng our position as
key badmlnton hub In the region. A growlng number of athletes In our badmlnton programme entered competitlons
and achieved a wide range of positive results, demonstratlng the programme's Increaslng depth, capability, and
competitlve strength.
Netball Redbrtdge Sports & Lelsure hosted London Pulse's Ilve-streamed NPL (Netball P￿MIer League) fixtures,
regular England Roses tralnlngt and Internatlonal carnps for New Zealand, Jamalca's Sunshlne Girls, and the
Australian Men's and Mixed Netball Association. The venue supported EMMNA training and matches, the London &
South East Regional Playoffs, and the National Schools Competition. Essex Met Academy tralned weekly and ran a
county PDP (Player Development Pathway) tournament, whlle London Pulse cont5nued Its weekly programme and
held two outdoor tournaments.
Tennls saw slgnlfScant success, wlth the senlor men's team earnlng promotlon In thelr county league followlng a
serles of hlgh-quallty performances. The player development pathway contlnued to demonstrate real depth, with
several young athletes sele¢ted for county-level training. Community and participation prograrnmes also reached
new helghts.. the annual Schools Festival attracted its highest number of attendees to date, hollday camp
participation set new records, and the winter tournament drew more than 600 entries, conflrmlng its position as
one of the regSon's largest and most popular competitlons.

S CENTRE T
HIEF EXECU
In 9ymnastlcs, athletes dellvered standout performances at a major regional event, securing top-three flnlshes
and reinforcing the club'5 growlng reputation for excellence In floor and vault dlsclpllnes.
Plckleball also enjoyed competitlve momentum, with one of the club's players achieving multiple victorles on the
tournament cir¢ult, demonstrating conslstency and strong match performance throughout the season.
Overall, each programme contrlbuted to a hlghly successful year, marked by competitive achievement, increased
partlclpatlon, and a strengthenSng of the organlsatlon's sportlng pathways.
Talent and Capablllty Strategy
The organisatlon'5 Talent and Capability Strategy contlnued to progress through the Upskllllng Programme, whlch
SUPPOrted staff development and strengthened Internal succession pathways. Notable progression during the year
Included the appolntment of Matt Reynolds as Operatlons Manager in February 2025, following 25 years of service
across a wide range of operatlonal and managerial roles, wlth his extenslve experlence well-posltlonlng him to lead the
Operatlons functlon. In June 2025, Jack Dowsett was appointed A5SlStant Sports Manager after è structured
development journey and prevlous posltlons, Includlng Tennis Development Officer, Academy of Sport Manager, and
Senior Duty Manager. These appointments demonstrate the ongolng success of the Upskllllng Programme and relnforce
the value of investlng in Internal talent to build long-term organisational capability.
2025 was a year of dependable operatlonal delivery, relnforcing flnanclal stablllty, and strateglc Investment In the
Trust's fijture. The developments planned for the coming year
ncluding yoga roomlspinnlng room, new spinning
blkes, padel courts, and the PV solar proJett- wl11 ensure contlnued progress, Innovatlon, and Improved sustslnabllity.
E extend my thanks to the Board, staff, volunteers, partners, and members for their continued support. Together, we
a￿ building a stronger, more resillent, and forward-looklftg organisatlon.
Wayne Alexander
Chlef Executive Officer
Redbridge Sports Centre Trust Ltd.

ORT
The Executive Board present thelr strategic report of the Trust for the year ended 31 De￿mber 2025.
The Trust fflade a net deficlt of É208,966 (2024.. £133,197). A comprehenslve review of actlvlty Sn the year is given In
the Chief Executlve's report on pages 6 and 7.
The net assets of the Trust are £4,159,63112024.. E4,524,2691 at the balan￿ sheet date. This reflects the solld position
of the Trust from an overall solvency perspective. Thls strong balance Sheet Is the foundatlon on whlch the Trust can
contlnue to grow and prosper. See page 9 for comments in relation to the net cUr￿nt liability position at year end.
P rforman
The Trust uses the followlng Key Performance Indicators to monltor Its financial performance..
Income for Charttable Actlvltles
Payroll Costs
PayrtrlllTurnover Ratio
Operatlng (deficit)
Net result
2,596,472
1,514,652
58.33%
1135,7421
(208,966)
2,450,267
1,455,433
59.40%
157, 1681
1133,197)
The Executive Board carry out a comprehenslve rfsk revlew on an annual ba51s and have produced a pollcy document
and implemented procedures to rnitigate against exlstlng rlsks and to monitor agalnst exposu￿ to potential future rlsks.
The Trust'5 primary risks, as noted from the latest revlew were..
Rlsk Type
Strateglc
Strategic
Flnanclal
FInanc￿al
Flnanclal
Legal/Regulatory
Legal/Regulatory
Operational
Operational
Operatlonal
Operatlonal
Descrlption
The approprlateness of the Tnjst management struciu
Cost of maintalnlng agelng bulldlngs
Reduction In consumer Spending due to hlgh Inflatlon
Ability to repay the loan and meet the loan covenants
Increasing costs versus decreasing income
CoThpllance wlth Data Protettion Act
Child ProtectSon compllance - safeguardlng
Impact of natural disasters e.g., floodlng
Insurance adequacy to cover all risks
Increasing rellance on IT systems
Loss of acce55 to shared car parklng facllltles
The Tru5tee5 have put In place varlous strategle5 to reduce mltlgate these rlsks..
Producing a buslness plan and contingency budget and offering a broad range of facllities,.
Developed 3 "Pandemid strategy to safeguard the long term futu￿ of the Trust; Ensuring adequacy of
insurance cover,.
Preparing cash flows and reviewing debt covenants on a regular basis,.
Malntainlng Investment In the Centre and Its IT function and embraclng the efficiencies avallable through
automation,. and
Maintaining suffi"clent and relevant training for team members and Trustees
Th15 report was approved by the Board on 2 March 2026 and signed on Its behalf.
Ras Gohil
Chalr

The Executlve Board present their report and the flnanclal statements for the year ended 31 De￿mber 2025.
anisation
Details of the Trust's Organlsatlon are disclosed on Page 29.
rlncb al Activit
andR
The principal activity of the Trust Is to adminlster the Redbridge Sports Centre tts provlde Sports and Leisure facllltles
at affordable prlces to the Trust'5 Members and the local communlty,
The accounts, desplte a £135,742 operatlng deflclt (compared to £57,168 In 2024) and £85,231 net current liabllltles
(cOMpa￿d to £1,196,133 in 2024}, are prepared on a golng concern ba51s.
The decrease In the net CLJrrent liablllty posltlon Is predomlnantly due to the whole of the bank loan of £1,028,348
belng shown as due In less than one year in the prevlous year, as final repayment was orlglnally due In 2025, The
company refinanced the loan and the addltlonal funds secured will be used for capltal Investments in the Centre's
Infrastrurture.
Day-to-day worklng capltal needs are met through cash flows and ￿SerVes, while major projects are flnanced by a
combination OF grants, worklng capital and bank finances. Detalled budgets and forecasts ft)r the next 12 months
Indicate sufficlent cash flow. Trustees affirm the decislon to prepare financial statements on a golng con￿rn basls
after thorough evaluatlon of relevant factors.
The trustees have consldered the financial covenant requirements of the new bank facility and based on thelr
underslandlng of the first review to 31 December 2025, all relevant requlrements have been met. Forecasts have also
been prepared demonstrating ongolng covenant compllance.
evlew
The Trust's primary objectives for 2025 weie..
To contlnue to bulld on levels of particlpatlon across our prlndpal sports and Identlfy new opportunities for growth.
The alms for 2026 and beyond are to develop new sources of Income through introduclng new sports, continue to
grow membershlp levels, to promote maxlmum occupancy of the facllltles, partlcularly at mldweek off peak and
weekend perlods, whilst easin9 pressure on peak tlme court bookings.
The Trustees have complied with their duty as set out In the CharStles Act to have due regard to the Charlty Commlsslon's
guldance on publlc beneflt.
As explalned above, the primary object of the Trust Is to provlde sports and leisure facllitles at affordable prices to the
Trust's Members and the local communlty.
The Executive Board are satisfied that the Trust has met its obligatlons In thi5 respect during 2025. In partlcular:
The Trust had 4,782 members as at February 2026 (2025.. 4,720), the significant majorlty of whlch use the
Trust's facilities on a regular basls.
The Trust's facSlltles are made available to the local communltys in particular enabling the young and retlred to
further thelr Interest In sport at concegslonary rates.

NTR
TLIM
PORT
The Trust Is a member of Community Leisure UK {CLUKI, whlch provldes technical support to the Trust and
champlons the Trust model for providlng not-for-profit community lelsure provision. Lt does thls by enabllng
networklng and sharlng knowledge with peers and external stakeholders.
The Trust Is also part of a collaboratlve Ventu￿ with Vlslon
Redbrldge Culture and Lelsure, the not-for-profit
organisatlon that manages councll sports and fltness facilltles across the borough. Mernbers who subscribe to the
appropdate membershlp have access to Fullwell Cross Swlmmlng pool, gymi group exerclse and spa facilities.
stee
uitmen
The Executive Board endeavour to recruit new Dlrectors/Trustees, who can further develop and strengthen the sklll
base of the exlstlng Executlve Board. If any Member Is interested In becomlng a Director/Trustee, please contact the
Chlef ExecutSve, Wayne Alexander, at the Centre.
Members who express interest In Joinlng the Board have exploratory discuss1ons with the Chalr and Chlef Executlve
and, If consldered approprlate, they are invited to attend a few Executive Board Meetings in order that they meet other
Board Members and understand their responsibilities. If Interest Is sustained by all parties, and Board vacancies exlst,
the Indlvidual is then co-opted or encouraged to formally seek election to the Board at the Annual General Meet1ng.
Dlr
Followlng appointment, Directors are requlred to attend a meetlng wlth the Chalr and Chief Executlve at which:
the Trust's management structure and reporting procedures are explained,. and
the Director's obligatlons under Charlty and Company Law are explained.
At that meeting explanatory tralnlng memoranda are provided to the Director, sourced from the Charity Commlsslon or
Internally generated. Thereafter Directors are invited to attend varlous relevant courses when they become available.
Ècutiv
Details of 8oard Members and changes up to the date of adoptlon of these accounts are shown on Page 3. An
explanation of the Management Structure Is provided on Page 29. The members of the Executlve Board dld not recelve
any amounts as relmbursed expenses or fees In 2025 or 2024.
The Trust malntalns Dlrectors, Indemnlty Insuran￿ on behalf of the Dlrectors.
sRes
Iltles
The Trustees (who are also Directors of Redbrldge Sports Centre Trust Llmlted for the purposes of Company Law) are
responsible for preparlng the Annual Report and the financlal Statements In accordance wlth applicable law and Unlted
Klngdom Generally AC￿pted Accountlng Practice (UK GAAPI.
Company law requires the Directors to prepare fbnancial statements for each financial year which glve a true and falr
vlew of the State of affalrs of the Trust and of the surplus or deflclt of the Trust for that perlod. In preparing those
flnancial statements, the Dlrectors are required to..
select 5ultable accountlng policies and then apply them conslstently,.
observe the methods and prlnclple5 In the Charltles SORP,.
make Judgements and accounting estlmates that are reasonable and prudent.
state whether applicable accountlng standards have been followed, subject to any materfal departures disdosed
and explalned in the flnanclal statements,.
prepa￿ the financial statements on the going concern basls unless It Is Inapproprlate to presume that the Trust
wlll contlnue in buslness.
The Dlrectors are responsible for keeping proper accounting records whlch dlsclose wlth reasonable accuracy at any
time the flnanclal posltlon of the Trust and to enable them to ensure that the financlal statements comply with the
Companles Act 2006. They are also responslble for safeguardlng the assets of the Trust antl hence for taklng reasonable
steps for the preventlon and detection of fraud and other Irregularitles.
io

REP
RT
The Trustees are responslble for the malntenance and integrity of the corporate and flnanclal Informatlon Included on
the charitable company'5 webslte. Leglslatlon In the United Kingdom governing the preparatlon and dissemSnatlon of
flnanclal statements may dlffer from legislatlon In other Jurlsdlctlons.
So far as the Directors are aware, there 15 no relevarit audlt Informatlon (as defSned by Sectlon 418 of the Companles
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 director In order to make hlmself or herself aware of any relevant audit infomiatlon and to establlsh
that the Trust's audltor5 are aware of that Informatlon.
The Statement of Recommended Practlce 'Accountlng and Reportlng by Charltles, FRS102 (effectlve I lanuary 20191
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 23.
The Trust's bulldlngs are insured on a reconstructlon basls In the sum £34.8 Mlllion whlch exceeds the net book value
of the fixed assets.
The Executive Board have determlned that the target balance on unrestrlcted funds (free reserves), not Snvested In
tangible fixed assets held by the Trust, should approximate four months, expenditure {excludlng depreciation
net of
capltal grant amortlsatlon). Based on current expendlture levels thls would amount to £863,000.
The establishment of a fund of f￿e ￿serveS 15 requlred in order to meet the cost of percelved major risks. These have
been Identlfied by the Board as:
Insurable risks requlrlng short term brldglng finance..
Flood
Fire
A major decllne In usage of a partlcular faclllty, due to public perception of the associated sport.
Growth of alternate local competition, partlcularly Ir) respect L)f gym facllltles.
The level of free reserves as at 31 December 2025 was a negatlve sum of £1,479,633 (note 13).
In accordance with Section 485 of the Companles Act 2006, a resolutlon to re-appoint THP Limited as Auditors of the
Trust wlll be proposed at the forthcoming Annual General Meetlno.
The liabllity of members Is limlted to Él In the event of the Trust belng wound up wlth Insufflclent funds to meet Its
debts.
Thls Reptsrt was approved by the Board on 2 March 2026 and signed on Its behalf.
Ras Gohil
Chai
li

IND
DE
BRID
PORT
Oplnion
We have audlted the flnanclal statements of Redbridge Sports Centre Trust Llmlted (the 'charlty') for the
year ended 31 December2025 which comprlse the Statement of Flnanclal Activltles, Income and
Expendlture Account, Balance Sheet, Cash Flow Statement and Notes to the Flnanclal Statements, includlng
a summary of slgnlflcant accounting pollcles. The flnancial reportlng framework that has been applled In
their preparation is applicable law and United Klngdom Accountlng Standards, Including FinancSal Reporting
Standard 102 'The Flnancial Reporting Standard applicable In the UK and Republlc of I￿land. (United
Klngdom Generally Accepted A¢¢ountlng Practice).
In our oplnlon the flnanclal statements..
glve a true and falr view of the state of the charlty'5 affairs as èt 31 December 2025 and
of its deflcSt for the year then ended;
have been properly prepared in accordance wlth United Kingdom Generally Accepted
Accounting pract1￿,. and
have been prepared in accordance wlth the requirements of the Companles Act 2006.
Basis for opinion
We conducted our audit In accordance wlth International Standards on Audltlng (UK) (ISAS {UK)} and
applicable law. Our respon51billtles under those standards are further described In the Auditors.
responslbilities for the audit of the fSnan¢ial statements sectlon of our report. We are independent of the
charlty In accordance with the ethlcal requirements that are relevant to our audlt of the financial statements
the UK, Includlng the FRC'5 Ethical Standard, and we have fulfilled our other ethlcal responslbilltles In
accordance with these requirements. We belleve that the audit ev1rten￿ we have obtained is sufficient and
approprlate to provlde a basis for our opinion.
Conclusions reljting to going conc•rn
In audltlng the flnanclal statements, we have concluded that the dlrectors, (referred to from here as trustees)
use tsf the golng conttrn basls of ac¢ountlng In the preparatlon of the financlal statements Is approprlate.
Based on the work we have perfom)ed, we have not identified any material uncertalntles relatlng to events
or condltions that, Sndividually or collectively, may cast significant doubt on the charity's ablllty to contlnue
as a going concern for a period of at least twelve months from when the flnanclal statements are authorlsed
for issue. We have however noted the disclosures in relation to going concern on page 19 and confirm that
these are sufFicient.
Our responslbilities and the responslbllities of the trustees with respect to going concern a￿ descrlbed In
the relevant sections of this report.
Other informatlon
The trustees are responslble for the other Informatlon. The other Informatlon comprlses the informatlon in
the Strateglc Report, the Chief Executlve and Chalr's Annual Reports and the Report of the Executlve Board,
bLJt does not include the flnanclal statements and our Report of the Auditors thereon.
Our oplnlon on the flnanclal statements does not cover the other informatlon and, except to the extent
otherwise expllcltly stated In our report, we do not express any form of assurance concluslon thereon.
In connectlon wlth our audlt of the financlal statements, our responslblllty Is to read the other Informatlon
and, In doing so, consider whether the other Information is materially inconslstent wlth the financlal
statements or our knowledge obtained in the audit or otherwlse appears to be materially mlsstated.
If we identify such material InconsSstencles or apparent materlal misstatements, we are requlred to
determlne whether this gives rlse to a material misstatement In the flnanclal statements themselves. If,
based on the work we have performed, we conclude that there is a material misstatement of thls other
informatlon, we are required to ￿port that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the CompanSes Act 2006
In our oplnlon, based on the work undertaken In the course of the audit..
the informatlon given in the Strategic Report, the Chlef Executlve and Chalr's Annual Reports
and the Report of the Executlve Board for the financlal year for whlch the financlal statements
are prepared is consistent with the flnanclal statement5,' and
the Strateglc Report and the Report of the Executive Board have been prepared In accordance
wlth applicable legal requlrements.
12

DEPENDENT AUDITORS. REPORT TO THE MEMB
Matters on which we are required to report by exceptlon
In the 1Sght of the knowledge and understandlng of the eharlty and Its environment obtained in the course
of the audlt, we have not Identlfied materlal mlsstatement5 In the Stratsgic Report or the Report of the
Executive Board.
We have nothlng to report In respect of the following matters Whe￿ the Companies Act 2006 requires us to
report to you if, In our oplnion-.
adequate accounting records have not been kept, or returns adequate for our audSt have not
been received from branches not visited by us,. or
the financlal statements are not in agreement with the accounting records and returns,. or
rtain dlsclosures of trustees. remuneratlon specified by law are not made,. or
we have not recelved a11 the informatlon and explanations we requÉre for our audit.
Respon$lbilitle$ of tru$te¢s
As explalned more fully In the Statement of Trustees, Responsibllitie5 set out on pages 13 and 14, the
trustees are responsible for the preparation of the flnancial statements and For being Satisfied that they give
a true and falr vlew, and for such Internal control as the trustees determine necessary to enable the
preparatlon of flnanclal statements that are free from materlal mlsstatement, whether due to fvaud or error.
In preparing the Nnanclal statements, the trustees are responsible for assesslng the charlty's ablllty to
continue as a going concern, disclosingi as applicable, matters related to going concern and uslng the gr>lng
concern basls of accountlng unless the twstees elther Intend to Ilquldate the charity or to cease operatlons,
or have no reallstlc alternative but to do so.
Audltors. responslbllltles for the audlt of the flnanclal statements
Our (>bjectives are lo obtain reasonable assurance about whether the finandal statements as a whole are
free from material misstaternent, whether due to fraud or error, and to issue a Report of the Auditors that
Includes our oplnion. Reasonable assurance Is a hlgh level of assurance, but Is not a guarantee that an avdlt
conducted in èccordanTr with ISAS (UK) will always detert a material mi5Statement when it ex15ts.
Misstaternents can arise from fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected to Influence the economlc declsions of users taken on the basls of these
financlal statements.
The extent to which the audlt was consldered capable of detectlng Irregularlties includlng fraud
Our approach to Identlfylng and assessing the risks tsf material misstatemeftt in respect of irregularities,
including fraud and non-compllance with laws and regulatlons, was as follows..
the engagement partner ensured that the engagement team collectively had the approprlate competence,
capabllitles and skills to Identlfy or recognlse non-compllance w1th appllcable laws and regulations,.
we identlfled the laws and regulatlon$ appllcable to the charlty through dlscusslons with tnjstees and other
managernent, and frorn our commerclal knowledge and experience of the sector In whlch the charity
operètes,.
we focused on speclflc laws and ￿gUlatIonS whlch we consldered may have a dlrect material effect on the
flnanclal statements or the operations of the charlty, includlng the Companies Act 2006, Charitles Act 2011,
data protection, anti-briberyi employment, safeguarding, environmental and health and safety leglslation.
we assessed the extent of compllance wlth the laws and regulatSons Identlfied above through maklng
enqulrles of management and inspecting legil correspondence,. and
identified laws and regulations were communicated within the audit team regular5y and the team remained
alert to Instances of non-compllance throughout the audlt.
We assessed the susceptibility of the charity's financial statements to materlal mlsstatement, includlng
obtalning an understandlng of how fraud mlght occur, by:
maklng enquiries of management as to where they considered there was 5usceptibillty to fraud, thelr
knowledge of actual, suspected and alleged fraud,. and
conslderlng the Internal controls In place to mltlgate rlsks of fraud and non-compllance wlth laws and
regulations.
13

EDB
spo
NTR
In response to the rlsk of irregularities and non-compllance wlth laws and reg¢Jlatlons, we deslgned
procedures whlch Included, but were not limlted to..
agreelng financlal statement disclosures to underlying supportlng docun)entation'
enoulring of management as to actual and potentlal litigation and claSms,' and
reviewlng correspondeno wlth HMRC, The Charltles Commisslon and any other relevant regulatory bodles
as requlred.
There are inherent Ilmltatlons In our audlt procedures described above. The more removed that laws and
regulatlons are from financial transactions, the less Ilkely It Is that we would become aware of non-
compliance. Audltlng Standards also limit the audit procedure5 requSred to Identify non-complSance wlth
laws and regulations to enquiry of the dlrectors and other management and the inspectlon of regulatory
nd legal correspondence, If any. Material mlsstatements that arlse due to fraud can be harder to detect
than those that arlse from error as they may Involve deliberate con￿alment or collL¢slon.
A further descrlptlon of our responslbllities for the audit of the flnanclal statements Is located on the Financlal
Reporting Council's webslte at www.frc.org.uklauditorsresponsibilities. This descrlptlon forms part of our
Report of the Auditors.
Use of otsr report
This report is made solely to the charfty's members, as a body, In accordan￿ wlth Chapter 3 of Part 16 of
the CompanSes Act 2006. Our audit work has been undertaken so that we mlght state to the charity's
rnembers those matters we are required to state to them in a Report of the Audltors and for no other
purpose. To the fullest extent permitted by law, we do not accept or assume responsiblllty to anyone other
than the charlty and the Cha￿ty,$ members as a bodyi for our audlt work, for thls report, or for the opinions
we have formed.
EW-4
Shahid Hameed FCA FCCA (Senior Statutory Aijdltorl
for and on behalf of THP Limlted
Chartered Accountants
and Statutory AudStor5
34-40 Hlgh Street
Wanstead
London
EII 2RJ
Date.. 2 March 2026
14

REDBRIDGE SPORTS CENTRE TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2025
Restrlcted
Funds
(Capltal
Grants)
Unrestrltted
Fund (Income
and
Expenditure
Account)
2025
Total
Total
2025
2025
2024
INCOME:
Income from generated funds
Investment Income
Restricted Funds
Income frorn charitable actlvltles
Mernber5hip Fees
Use of Facilities
10,917
JO,917
6,884
10,000
316,557
2 279 915
316,557
2 279 915
289,143
2 161 124
Total Income
2 607 389
2 607 389
2 467 151
EXPENDITURE
Charita ble Actlvltles (Note 3)
Gove rna ￿￿ Costs (Note 4)
other Resources Expended
Interest Charges (Note 211
2,866,072
21,814
2,866,072
21,814
2,644,617
38,470
Tota l Expendlture
2 972 027
2 972 027
2 766 000
NET MOVEMENT BEFORE TRANSFERS
(364,6381
{364,638)
(298,849)
GROSS TrANSFERS BETWEEN FUNDS
Amortisation of Capital Gra nts
(155,672)
155,672
NET MOVEMEwf IN FUND5
(155,672)
(208,9661
(364,638)
(298,849)
RECONCILIATION OF FUNDS
Total Funds Brought Forward
4 155 524
368 745
4 524 269
4823 118
Total Funds Carrled FoNard
3 999 852
159 779
4 159 631
4 524 269
The only movement In restrlcted funds In the prlor year was the amortlsatlon of capltal grants of £ 175,652 whlch was
released to unrestrlcted fijnds.
The notes form part of th55 statement.
All 1ncome and expendlture derlve from contlnulng actlvltles.
15

REDBRIDGE SPORTS CENTRE TRUST LIMITED
INCOME AND EXPENDZTURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
Nota
2025
2024
TURNOVER
Membershlp Fees
Use of Facilltles
316,557
2 279 915
2,596,472
289,143
2 161 124
2,450,267
cosroF SALES
Dlrect Costs
Allocatlon from Restrlcted Fund In respect of a mortlsatlon of
Capita l Grants
11,775,219)
(1,716,581)
155,672
175,652
1 619 547
1 540 929
GROSS REVENUE SURPLUS
976,925
909,338
ADMINISTRATtVE EXPENSES
11,112,667)
(966,506)
OPERATING DEFICIT
(135,742)
157,168)
INTEREST RECEtVA8LE
10,917
6,884
INTEREST PAYABLE
DEFICIT FOR TrIE YEAR
208 966
133 197
The notes form part of thls Income and Expenditure Account.
The Statement of Flnanclal Actlvitles on page 17 provides further detalls OF movements In funds.
16

REDBRIDGE SPORTS CENTRE TRUST LIMXTED (COMPANY NO: 1000490)
BALANCE SHEET
AS AT 31 DECEMBER 2025
Note
2025
2024
FIXED ASSETS
Tangible Assets
5,639,264
5,737,606
CURRENT ASSETS
Debtors
Cash at Bank and In Hand
183,552
406 872
590,424
205,417
175 097
380,5 14
CREDITORS '. DUE WITHIN ONE YEAR
Bank Loan
other Loan
Trade Credltors
TaxatSon & Socla I Securlty
Accruals and Other CredStors
Deferred Income
io
69,630
I,ooo
124,577
39,169
165,361
275 918
675,655
1,028,348
1,000
96,155
42,529
137,084
271 531
1,576,647
20
NET CURRENT {LIABILITIESI/ASSETS
(85,231)
{1,196,133)
TOTAL ASSETS LESS CURRENT LIABILITIES
5,554,033
4,541,473
CREDITORS.. DUE MORE THAN ONE YEAR
io
11,394,402)
PROVISIONS FOR LIABfLmES
23
117,204)
NET ASSETS
4 159 631
4 524 269
THE FUNDS OF THE CHARITY
Restrlcted Capltal Grants
Unrestricted - Income and Expendlture Accounts
3,999,852
159 779
4,155,524
368 745
12
TOTAL CHARITY FUNDS
14
4 159 631
4 524 269
The flnancial statements were approved by the Board on 2 March 2026 and slgned On its behalf.
Ras Gohll
Chalr
The notes fomi part of thls balance sheet.
17

REDBRIDGE SPORTS CENTRE TRUST LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
2025
2024
CASH FLOW FROM OPERATING ACTLVLTIES
71,083
35,767
CASH FLOWS FROM INVEsllNG ACTIVITIES
Interest income
Purchase of tanglble fixed assets
10,917
1201,7681
6,884
148,685)
CASH PROVIDED (USED IN)/BY INVESTING ACTIVITIES
190 851
CASH FLOWS FROM FINANCING ACTIVITIES
Interest pald
Loan repayments
New loan
RestrFCted fvnd re￿iVed
(84,1411
11,064,3 161
1,500,000
182,913)
160,598)
CASH (USED BY) FINANCING ACllVITIES
351 543
133 511
(Decrease} in cash and cash equivalents in the year
231 775
139 545
Cash and cash equivalents at the beglnnlng of the year
175,097
314,642
TOTAL CASH AND CASH EQUIVALENTS ATTME END OF THE
YEAR (Note 221
406,872
175,097
RECONCILIATION OF NET MOVEMENTS IN FUNDS TO NET CASH FROM OPERATING
ACTEVITIES
2025
2024
Net mvement in funds
Add back depreclatlorb charye
Deduct Interest Income shown In Investlng actlvltles
Add back interest paya ble
Decreasellincrease) in debtors
Increase In creditors
Increase/lDecreasel in provlsions
Grant received
NET CASH GENERATED BY OPERATING ACTIVITIES
(364,6381
300,110
(10,9 17)
84,141
21,865
57,726
(17,204)
(298.849)
330,050
{6,884)
82,913
166,896)
74,509
169,076)
18

REDBRIDGE SPORTS CENTRE TRUST LIMITED
ACCOUNTING POLICIES
FOR THE YEAR ENDED 31 DECEMBER 2025
The Charity is a private charltable company Ilmlted by guarantee and reglstered In England & Wales. The charltable
company's registered number and reglstered offlce address can be found on the Company Informatlon page.
The charlty's functional and presentatlon currency Is the pound sterllng.
The financial statement5 have been prepared In compllance wlth Accountlng and Reportlng by Charitles: Statement of
Recommended Practice appllcable to charltles preparing their accounts in accordance with the Financlal Reportlng
Standard appllcable In the UK and Republlc of Ireland IFRS 102) leffertive l January 20191 {Charities SORP IFRS
10211, the Financial Reporting Standard appllcable In the UK and Republlc of Ireland (FRS 102), Companles Act 2006
and the Charlties Act 2011.
The TrLlSt meets the definition of a public benefit entity under FRS 102. Assets and Ilabllltles are Inltlally recognlsed at
hlstorlcal cost or transaction value unless otherwise stated In the relevant accountlng pollcy note.
Pr
aration and Goin
These flnancial statements have been prepared under the hIst0￿Cal cost conventlon.
The accounts, despite a £135,742 operating deficit (compared to £57,168 in 2024) and £85,231 net current Ilabllltles
(compared to £1,196,133 in 2024), are prepared on a going concern basls.
The decrease In the net current Ilablllty posltlon is predominantly due to the whole of the bank loan of £1,028,348
belng shown as due in less than one year the previous year, as final ￿paYment was orlglnèlly due in 2025. The
Company refinanced the loan and the additlonal funds secured wlll be used for capltal Investments In the Centre's
infrastructure.
Day-to-day working capltal needs are met through cash flows and reserves, whlle major projects a￿ financed by
grants and working capltal. Detalled budgets and forecasts for the next 12 months indicate sufficlent cash flow.
Trustees affirm the declslon to p￿￿a￿ flnanclal statements on a going concern basls after thorough evaluatlon of
relevant factors.
The trustees have consldered the flnanclal covenant requlrements of the new bank facillty and based on thelr
understandlng of the Pirst review to 31 December 2025, all relevant requlrements have been met. Forecasts have also
been prepared demonstrating ongoing covenant compliance.
Critical Accountin
Estimates and judgements are continually evaluated and are based on hlstorlcal experience and other factors, including
expectatlons of future events that are belleved to be reasonable under the clrcLJmstances.
a) Crltlcal Judgements in applying the entity's accounting policies
There are no specific jUdgeme￿t$, apart from those involvlng estimates as detalled below, that management has made
In the process of applying the entity's accounting policies that have a sSgnlflcant effect on the amounts recognised in
the flnanclal statements.
b) Crltlcal accounting estim4te$ and assumptions
The charlty makes estimates and assumptions concerning the future. The resulting accounting estlmates can dlffer from
the related actual results. The estimates and assumptions that have a significant risk of causSng a material adjustment
to the carrying amounts of assets and Ilabilltles wlthln the next flnanclal year are addressed below.
{1) Useful economic Ilves of tanglble a55ets
The annual depreciatlon charge for tangible assets is sensltlve to changes In the estlmated useful lives and resldual
values OF the assets. The useful economic lives and residual values are re-assessed annually. They are amended when
necessary to reflect current estlmates based on technologlcal advanTrments, future Investments, economlc utlllsatlon
and the physical condltlon of the assets. See note 8 for the carrylng amount of tanglble assets and below for the
depreciatlon policy in respect of each class of asset.
19

REDBRIDGE SPORTS CENTRE TRUST LIMITED
ACCOUNTING POLICIES (Contlnued)
FOR THE YEAR ENDED 31 DECEMBER 2025
Turnover consists of cash taklngs, memberships and booklngs Income, net of value added tax. Llfe membershlp fees
are taken to the Income and Expendlture Account in equal Instalments over six years. Annual membershlp fees are
taken to the Income and Expendlture Account over the duratlon of the calendar year to which they relate. Income from
bookings 19 recognised in the period in which the actlvity takes plaTr.
Gran
Grants ￿tated to expenditure on tangible flxed assets are ¢redited to the Income and Expendlture Account over the
lives of those assets. Total grants receivable less the aggregate amounts C￿d￿ted to the Income and Expenditure
Account at the Balance Sheet date are Induded In the Balance Sheet as Restrlcted Funds.
Revenue Grants are accounted for on a recelvable basts.
Flxed assets are depreclated to wrlte off thelr cost over thelr useful lives at the followlng rates per annum on a straight
Ilne ba51S'.
Freehold Land
Freehold Bulldings
Furniture & Equipment
Computers
Gym Equlpment
other
Not depreciated
3.33Vo to IOWO
33¥
20%
IO% to 15%
Depreclatlon on major acqulsltlons commences In the month followlng flrst use. Other fixed assets are depreclated for
Full year In the year of acqui51tion. A minimum level for capitali5ation of fixed assets has been set at £250. Items
costlng less than that amount are immediately wrltten off in full to the Income and Expenditure Account on acqulsltlon.
Computer software cost5 are immediately written off In fLtII to the Income and Expendlture Account on acoulsltlon.
Flxed a55ets are revlewed on an on9olng basls for Indlcatlons of impalrment.
Stock Is stated at the lower of cost and selllng price less cost5 to complete and sell, after maklng due allowance for
obsolete and slow moving items. Stocks are recognized as an expense In the perlod In which the related revenue Is
recognlzed.
The Trust partlclpates In a deflned contrlbutlon penslon scheme for staff and the penslon charge represents the amounts
payable by the Trust to the fund in respect of the year.
Irrecoverable VAT is charged as a cost wlthln adminlstratlve expenses.
Invoiced income, relating to services to be provlded after the financial year end, Is classlfied In the balance Sheet as
Deferred Income, whlch also iT)cludes the deferred element of life and annvol membershlp fees.
The Income and Expendlture Account Includes an allocatlon of costs between Cost of Sales and Admlni5trative Expenses.
Cost OF sales primarily conslsts of Depreclatlon, 60Q/tr of payroll costs and certaln premises expenses. All other costs are
allocated as Admlnlstratlve Expenses.
All costs are deemed to relate to charitable actlvltles extept for professional fees that relate solely to the governance
of the Charlty.
The trust only has flnancial assets and Ilabllltles of a klnd that qualify a5 baslc flnancial Instruments.
20

REDBRIDGE SPORTS CENTRE TRUST LIMrrED
NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2025
The Restrlcted Funds represent grants received In respect of capltal and other expenditure, not yet arnortised
to the Lncome and ExpendSture Account.
The Unrestricted Fund represents the Income and Expenditure Reserve, whlch Is not subject to any restrlrtlons,
other than In respect of furthering the Trust's charitable objects.
RESOURCES EXPENDED: CHAR￿ABLE ACTIVThIES
Resources expended on Charitable Attivities are a nalysed as follows:
2025
2024
Payroll Costs (Note 6)
Depreclatlon (Note 81
External Advertlslng
Light and Heat
Premises and equipment maintenance and repalr
Insurarhce
other Costs
1,514,652
300,110
13,907
280,749
201,437
138,635
260,9 10
1,455,432
330,050
6,116
320,371
155,163
133,214
244,271
2 710 400
2 644 617
RESOURCES EXPENDED . GOVERNANCE COSTS
Resources expended on Governance Costs are analysed as follows..
2025
2024
Audlt Fee
Professlonal Fees
10,500
10,210
21

REDBRIDGE SPORTS CENTRE TRUST LIMXTED
NOTES TO THE INCOME AND EXPENDXTURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
OPERATING RESULT
The result for the year Is stated after the following-.
2025
2024
fterchar
Depreciatlon
Auditors. Remuneratloh
Audit Fees
Accountlng and Flna nclal Reportlng
Premises a nd equipment maintena nce a nd repalr
300,110
330,050
10,500
5,500
201,437
10,210
5,240
155,163
Emoluments of Chlef Executlve
Remuneratlon
Penslon Contributions
78,201
8,075
76,775
7,810
Release of ca pltal grants
155 672
175 652
PAYROLL COSTS
The total payroll costs are ana Fysed as follows:
2025
2024
Salaries
Employer's Natlonal Insurance
Pen5Ion Costs
Self-Employed Contractors
1,339,083
90,879
34,285
1,288,731
87,351
30,741
1 514 652
1 455 432
The average number of employee5 durlng the year was..
2025
Number
113
22
135
2024
Number
114
21
135
Operatlonal
Management and admlnlstratlon
No employees earn over £60,000, except the Chief ExecutSve whose remuneratlon 15 disc105ed In Note 5 èbove
and 15 authorised by the Trust's Articles of Association. None of the Dlrectors are remunerated in their capaclty
as Trustees. The Trustees are deemed to be the key management of the Trust ftsr the purpose5 of dlsclosure
under FRSIO2.
7. TAXATION
The Charlty Is exempt from tax on Income ènd galns within Sectlon 505 of the Taxes Act 1988 or sectlon 252 of
the Taxatlon of Chargeable Gains Act 1992 to the extent that these are applled to Its charitable objects.
22

REDBRIDGE SPORTS CENTRE TRUST LIMITED
NOTES TO THE BALANCE SHEET
FOR THE YEAR ENDED 31 DECEMBER 2025
TANGIBLE FIXED ASSETS
Freehold
Land
Freehold
Bulldlngs
Furniture &
Equlpment
Total
Balan￿ 1/112025
Additions
Dlsposals
619,167
13,150,335
860,700
201,768
14,630,202
201,768
Balance 3111212025
619 167
13 150 335
1 062 468
14 831 970
De
Ba lance 1/112025
Charge foryear
Disposa Is
recia
8,123,896
247,883
768,700
52,227
8,892,596
300,110
Balance 3 111212025
8 371 779
820 927
9 192 706
t Book Valu
At 3 111212025
619 167
4 778 556
241 541
5 639 264
At 3111212024
619 167
5 026 439
5 737 606
All flxed assets are utillsed by the Charity in meeting its charltable objects.
23

REDBRIDGE SPORTS CENTRE TRUST LIMITED
NOTES TO THE BALANCE SHEET (contlnued)
FOR THE YEAR ENDED 31 DECEMBER 2025
DEBTORS
2025
2024
Trade Debtors
Pre payments and accrued Income
Redbrtdge Sports Centre Social Club
46,349
125,291
11,912
183 552
67,952
116,142
21,323
205 417
10. CREDrroRS.. DUE MORE THAN ONE YEAR
2025
2024
Bank Loan
1 394 402
Bank Loan
The Trust reflnanced bank loan In May 2025, taklng out a 5 year ftoatlng rate term loan. The Interest rate
on thls loan is 2,00% over Bank OF England base rate. The loan includes a final balloon payment of
£1,136,852 due In May 2030.
An analysls of the maturlty of loa ns Is glven below:
2025
2024
Falllng due wlthln one year..
Fallbng due between one and two years..
Falllng due between two and flve years
69,630
73,740
1 320 662
1,028,348
11. RESTRICTED FUNDS
Funds received in respect of flxed asset and other
expendlture..
2025
2024
Balance at beginnlng of year
Grants recelved
Grant5 released
Balan￿ at end of year
4,155,524
4,32 1,176
10,000
175 652
4 155 524
155 672
3 999 852
Included within other creditors on the ba lance sheet a re "funds held" for restrlcted
purposes of £30,641 (2024.. E25,649).
24

REDBRIDGE SPORTS CENTRE TRUST LIMITED
NOTES TO THE BALANCE SHEET (contlnued)
FOR THE YEAR ENDED 31 DECEMBER 2025
12. UNRESTRICTED FUND - INCOME AND EXPENDITURE ACCOUNT
2025
2024
Balance at Beglnnlng of year
(Deflclt) for the year
368,745
501,942
208 966
159,779
133 197
368,745
8alance at End of Year
13. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Tanglblo Flxed Other Net
Assets
(Llabllltles}1
Assets
Total
Restrfcted Funds Grants
Unrestrlcted FLJnd5
3,999,852
1 639 412
3,999,852
159 779
1479 6331
14. MOVEMENT ON TOTAL FUNDS AND RESERVES
2025
2024
Income and Expenditure (Deflcltl
Capltal grant
Grant release (See note 11)
{208,966} 1133,1971
io,ooo
175 6521
155 672}
Movement for the year
(364,638) (298,849)
Total Funds and Reserves at beglnnlng of year
4 524 269 4823 118
Total Funds and Reserves at end of year
4 159 631 4 524 269
15.
OPERATIONAL COMMITMENTS
At 31 December 2025 and 2024 the Trust had no annual commitments under non-cancellable
operatlng leases.
25

REDBRIDGE SPORTS CENTRE TRUST LXMITED
NOTES TO THE BALANCE SHEET (Contlnued)
FOR THE YEAR ENDED 31 DECEMBER 2025
16.
CAPITAL COMMITMENTS
Contracted but not provided for In these accounts £49,432 (2024.. £NIII, thls belng the balance of the
Splnning room refurblshment.
17.
SECURED DEBTS
The Bank Loan of £1,464,032 {2024.' £1,028,348) Is secured by a flxed and floatlng charge over part of the
Twst's freehold properties and other assets. The other freehold properties are secured In favour of several of
the major capltal grant provlders.
The Trust also has an overdraft facility of £75,000 ag￿ed with the bank, though thi5 has not been utlllsed slnce
It was made avallable.
18.
RELATED PARTY TRANSACTIONS
The Redbridge Sports Centre Social Club is a separate entlty which operates the bar and ancillary facllltles at
the Sports Centre. At the year end the Redbrfdge Sport5 Centre Soclal Club owed £1 1,912 to the Trust {2024-.
£21,323).
During the year the Trust raised a management charge of £7,200 (2024.. £7,200) to the Social Club for varlous
costs incurred on their behalf and charged the Social Club rent of £3,6QO12024.. £3,600), The Trust contrlbuted
to the cèterlng costs of the Soclal Club of E12,000 (2024.. £12,000).
19.
INVESTMENT INCOME
Investment income of £10,91712024'. £6,884) relates to bank Interest receivable.
26

REDBRIDGE SPORTS CENTRE TRUST LIMITED
NOTES TO THE BALANCE SHEET (Contlnued)
FOR THE YEAR ENDED 31 DECEMBER 2025
20.
DEFERRED INCOME
Deferred income comprlses sales Involces ralsed In advan￿ In relatlon to long term bookings and
membership relatlng to 2026.
Balance as at 0110112025
Amount released to Incorne earned from charitable actlvltles
Amount deferred In year
Balance as at 3111212025
1226,2851
21.
INTEREST PAYABLE
2025
2024
On Bank Loans
22.
CASH AND CASH EQUIVALENTS
The amounts dlsclosed on the Cash Flow Statement In ￿SpeCt of cash and cash equlvalents are in
respect of these Balance Sheet amounl5'.
2025
2024
Total cash and cash equlvalents
406,872
175,097
23. PROVISIONS
The Trust prevlously made provlslon, based on existlng data, for potentlal obligatlons In relatlon to the costs of
its premlses.
2025
2024
Premlse5 Costs provlslon
17,204
Balance at l January 2025
Released In the year
17,204
117,204)
Balance at 31 December 2025
27

REDBRIDGE SPORTS CENTRE TRUST LIMITED
BACKGROUND OF TRUST
March 1968
Loss of North Ilford LTC'S faclllties at Beehive Lane, comprising.. 8 tennls courts, I badminton hall, I table
tennls room, through grant of planrtlng permlsslon to landlords to bulld houses on slte - compensatlon
£1,000.
April 1968
Announced intentlon to bulld a Sports Centre which would be flnanclally vlable. Sports Centre Building
Commlttee formed.
1968 - L972
Fund raSslng orlginal target £40,000 rapidly rose over the pertod to over £lOO,000.
November 1970
Redbrldge Sports Centre Trust Llmlted formed
a company limited by guarantee and reglstered as a
charlty. All funds prevlously ralsed In the name of NILTC transferred into the charlty.
March 1971
Bullding started
Phase l. Indoor facllities then comprlsed.. Sports Hall; 5 badmlnton courts to
international standard (as at presentl,. 4 squash covrts,. a game5 room- changlng facllltles for 100 men
and 70 ladles, and outsSde, a car park for 120 cars and 5 tennls courts. Cost, a bargaln, at just £114,277.
20 March 1972
Sport5 Centre opened.
19 June 1972
Offlcial openlng by Princess Alexandra.
October 1974
Phase 2 - Managers, o￿lce$l games room above and store at the far end of the Sport5 Hall.
August 1977
Phase 3 5th squash court and tennis pavilion built.
July 1980
Phase 4 - 6th and 7th squash courts bullt and Smproved offices.
May 1983
Phase 5 - All five outside tennis courts re-surfaced with Omnlturf (sand fllled). All courts and car park
June 1989
Phase 6 -comprlsing new Conditioning Room, Health Sulte, lounges and activities room. All main services
nd fire and safety Installatlons throughout the Centre We￿ upgraded.
December 1991
Freehold of slte purchased
August 1994
Part of Oakfleld slte obtalned Under long lease for future development
September 1994 Phase 7 Work5 comtnenced on I.T.I. Centfft comprislng 8 indoor tennis courts (opened July 19951, 6
new outdoor courts (opened November 1994), new fltness and aeroblcs/dance studSos {opened March
19951.
November 1994
Redbrfdge Tennls Club fomied, incorporating North Ilftsrd L.T.C.
October 1997
Phase 8- Works commenced to bulld 2 floodllt synthetic grass pitches and 12 floodllt netball/tennls courts
on Oakfleld and substantial pavlllon operational from June 1998.
December 2000
Phase 9 gym extenslon becomes operational
equipment in December 2004.
cardiovascular machlnes replaced wlth new Technogym
January 2012
Phase 10 Sports Hall, comprislng 12 Olymplc standard badmlnton courts and anclllary facllltles, opens for
publlc and member use.
July-september
Centre 15 Utillsed as an Olympic and Paralympic Tralning Venue for 8admlnton, Wrestllng, Judo 2012
and Goalball.
November 2013
Works completed to replace floodlit synthetic grass pltches.
December 2015
Major gym refurbSshment, new equipment and impmved access control.
June 2017
Improvements lo coffee shop, blstro, splnnlng studlo and major refurbishment of 8 indoor tennls August
2019 courts.
July 2024
Upgraded 4 outdoor netballltennls courts {6 to 9)
September 2025 Upgraded Heatlng Infrastructure in the Norman Booth Buildlngi replaclng So-year-old bollers
November 2025
Upgraded 4 outdoor netball/tennis courts12 to 5)
28

REDBRIDGE SPORTS CENTRE TRUST LIMITED
ORGANISATION
GOVERNING DOCUMENT
The organlsatlon and operatlons of the Trust are prlmarlly governed by the Trust'5 Articles of Associatlon (the
Trust's Con5titutionl.
OBJECTS
As defined In the Articles of Associatlon, the Trust's maln obJect"Is to pmvlde or to asslst In provldlng facllltles
for recreatlon, physical educatlon or other leisure time occupatlon in or in connectlon wlth the Bomugh of
Redbridge and Its nelghbourhood".
The Executive Board endeavour to meet thi5 objective by provldlng quality sports facllltles at affordable prlces.
MANAGEMENT STRUCTURE
The Trust Is admiriistered by the Executlve Board, all of whom (wlth the exception of the Chlef Executive)
provide thelr serVI￿S on a voluntary basls.
3A
EXECUTIVE BOARD
Comprises..
the Chief OfPicers appointed by the Executlve Board, namely Chair, Deputy Chalr, Hon.
Treasurer, Hon Sollcltor, Hon. Secretary and Chlef Executive.
Not less than 3 and up to 8 elected members from the membership by postal vote.
4 nomlnated members from financlal backers.
d)
up to 2 co-opted members for thelr special knowledge and experien￿.
Decides major pollcy and ftnanclal matters.. meets at least quarterly.
bl
3B
MANAGEMENT COmMI￿EE
A formal Sub-commlttee of the ExecLJtive Board. Monltors the contlnuous efficlent functlonlng of the
Cent￿, deciding day to day general policy. All members of the Executlve Board are eligible to attend
and, In re￿nt years, member represenlatlves of attivities not otherwlse represented have been Invlted
to attend. The employed managers slt on the Committee for report and Ilaison.
3C
THE OFFICERS
An Informal Sub-committee of the Executive Board Icomprlslng the Chief offI￿r5 of the Trust and
others appointed by the Board). The Officers meet monthly to consider matters In depth and make
recommendations to the Executlve Board, egi on staff salarles, annual budget, capltal experiditure and
general polley.
3D
USE OF UNPAID VOLUNTEERS
With the exception of the Chief Executlve, all rnembers of the Executlve Board provlde thelr ServI￿S on
a voluntary unpald basls. There are no other unpaid volunteers though the Centre does take on young
students from local colleges for work experience on an unpald basls.
THE STAFF
The Trust currently employs approximately 154 members of staff. Of these about 22 are full-tlme employees
on the basls of regularly worklng a mlnlmum of 30 hours a week, with the rest part-time.
29

REDBRIDGE SPORTS CENTRE TRUST LIMITED
FINANCIAL BACKGROUND SUMMARY
FOR THE YEAR ENDED 31 DECEMBER 2025
CAprrAL EXpEND￿uRE
Buildings
Original Cost
Phase 2
Phase 3
Phase 4
Phase S
Phase 6
Phase 7
Phase 8
Phase 9
Phase 10
Other
Furniture & Equlpment
Freehold La nd
106,697
40,000
28,093
70,000
45,597
665,769
2,131,072
1,978,121
435,976
7,604,916
44,094
1,062,469
619,167
Total
£ 14 831 971
Meth
din
The above capltal costs have been met from the followlng
sources..
1972 - 2025 Incluslv
l Gra nts
Deferred for future release to Revenue Account
Released to Revenue Account
Total ReTrwed
Loans at 31
12
2013
J. Petchey
Ba rclays Bank PIC
3,999,852
4 311 198
8,3 11,050
1,000
775,106
703,529
Own Gener
Income and Expendlture Account
DepreclatSon
Transfer from Capltal Gra nts
159,779
9,192,704
4 311 198
5,041,286
£ 14 831 971
All Income generated by the Centre has been ploughed back 100% towards meeting running costs and provlding new
or improved facllitles as set out In th15 Report. No subsldy towards runnlng costs has been recelved at any stage slnce
the Centre opened In 1972.
30

REDBRIDGE SPORTS CENTRE TRusf LIMITED
FINANCIAL BACKGROUND SUMMARY
FOR THE YEAR ENDED 31 DECEMBER 2025
Capital and other grants {Including Glft-Aid where relevant) have been received froTn the following source5 as at
3111212025..
SourcÈs
Olymplc Delivery Authority
Nationa l Lottery Ilnc Sport Engla nd)
Lawn Tennls Assoclatlon
London Borough of Redb￿dge (re land transactlon)
Athenaeum Law n Tennls Club
Badmlnton England
Sports Councll
London Marathon
England Netball
Football Foundatlon
Foundation For Sports & Arts
Terry Brown
Paul Clarke
Petchey Properties Pk and Jack Petchey Foundation
England Hockey
Essex County Tennls
Biffa
Lafarge
Football Associatlon
Gra nge Farm Trust
England Netball
others
3,339,391
2,934,3 13
742,500
510,000
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 Capltal Grants Recelved
10 150 336
31