The trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
Charitable objectives
The Trust's objects are:
To advance education and to provide facilities for social, recreational and creative leisure time opportunities for the people of Portsmouth, particularly in the area known as Portsea, in co-operation with the residents of the area, the local authority and voluntary and other organisations with the object of improving their conditions of life; and
To establish, maintain and manage the John Pounds Centre in liaison with other voluntary and statutory bodies and to promote community involvement in such management.
There has been no change in these during the year.
Aims of the Trust
The Trust shall contribute to the on-going regeneration of Portsea and the surrounding area by improving the economic and social well-being of the community.
The Trust achieves this by providing a range of services, activities, information and advice to individuals and local businesses particularly social enterprises and sole traders through the provision of the community centre and Treadgolds, ensuring there is a safe and relaxing environment for all who attend. The overall objective shall be to promote:
Self esteem;
Health and Well-being, Sport and Fitness through the provision of sporting facilities;
Entrepreneurship and the creation of local businesses supported by affordable serviced Office space;
Lifelong learning, training and personal development;
Arts and culture; and
Community services directly and through the Trust's Partners.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.
The Centre continues to host a wide range of activities and tenants, generating steady income.
Regular and returning users:
Trinity College, Viva Gym Club, Christ Central Church, Princes Trust, Solent Mind, Society of St James, NHS Trusts, HIVE Portsmouth, and Tertulia Language School.
New uses:
Wellness and dance classes (including Forró, a Brazilian community dance).
Weddings and private celebrations in the main hall and café.
Filming and photography sessions through Puretech and Photoworks.
Conferences and training including NHS Inclusion team, Brockenhurst College, and Portsmouth Hospitals University NHS Trust events.
Tenants:
Aldingbourne Trust Café & Banqueting Service continues to thrive, improving the centre’s offer to visitors and hirers.
NHS Research Hub remains but faces uncertainty beyond March 2025 due to funding changes.
Swan Advocacy renewed tenancy within the Hub.
The 2024–25 year has been one of steady delivery, financial restraint, and strategic planning for the John Pounds Community Trust. Despite significant cost pressures, the Trust has maintained a full programme of community activity, supported partner organisations, and continued to operate two major community buildings: the John Pounds Centre and Treadgolds Heritage Site.
Both facilities remain vital in the Portsea area, providing affordable space for health, education, arts, and social activities. Trustees, staff, and volunteers have worked hard to balance financial sustainability with the Trust’s core charitable mission of inclusion, opportunity, and wellbeing.
The Trust continued to provide and host a diverse community programme with direct and indirect impact across Portsea and wider Portsmouth.
Youth and Family Programmes
Youth Gym Inductions introduced in partnership with the youth service to encourage fitness participation.
HAF Pompey Summer Programme provided 3 weeks of free activities and meals for 5–12 year olds, averaging 25 children per day.
Cultural and Creative Work
Photoworks “Photography Champions” initiative hosted at Treadgolds, engaging local photographers in exhibitions, talks, and community dialogue.
We Shine Festival and other exhibitions brought new audiences to Treadgolds.
Brazilian Dance (Forró) sessions developed into a regular, inclusive community event.
Local Engagement
PCC Community Champions Programme facilitated resident workshops focusing on health, awareness, community, and young people.
JPCT contributed local insight and identified opportunities for collaboration.
MAKE and the Nursery partnership continued to enhance the community garden.
The Trust reported a net deficit for the year of £145,443 comprising a surplus on unrestricted general funds of £93,058, a deficit on unrestricted designated funds of £198,668, and a deficit on restricted funds of £39,833. This compares with a surplus of £1,485 on total funds for the year ended 31 March 2024.
At 31 March 2025 fund balances carried forward comprised general unrestricted funds in surplus of £97,506, designated funds in surplus of £8,927 and restricted funds in surplus of £420,024.
It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the trust’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has not been maintained throughout the year. In the short term the trustees would be able to access the Designated funds to the extent that they have not been spent but this is far from ideal. At the year end unrestricted reserves (excluding fixed asset designated fund) amounted to £103,166, covering 3.8 months of expenditure after excluding costs which will not be incurred in future period.
Going Concern
As mentioned in previous years the Trust has been in negotiation with Portsmouth City Council, the freehold owners of the John Pounds Community Centre, with the hope of reaching a satisfactory financial arrangement to address the escalating cost of operating the Centre much of which had arisen from the City's failure to adequately maintain the Centre and observe its leasehold obligations in this respect.
While it had looked likely during much of 2024 that such an arrangement would be secured the City eventually concluded, following a thorough detailed analysis of the outstanding maintenance required to address the problems, that it was unable to afford to fund the backlog of maintenance which amounted to several million pounds.
As a result the Trust and City agreed an arrangement whereby the Trust would transfer the business of operating the Centre to the City Council and this took effect from 1 April 2025. This has left the Trust with a significantly reduced overhead on the one hand and Treadgolds on the other from which it can undertake its charitable work. On this basis the trustees consider the charity to be a going concern.
Funding activity has been diverse, targeting small and medium-sized grants for arts, health, and building sustainability.
Key submissions:
Holidays Activity and Food Portsmouth - for children’s holiday activities.
Heritage Lottery Fund- Development Grant – Treadgolds- supporting surveys and business planning.
VCSE Energy Efficiency Scheme – LED lighting upgrade.
Household Support - to support food services with the purchase of a new van.
The trustees are responsible for ensuring that there are effective risk management systems in place alongside internal controls to manage the major risks. The trustees continually assess the major risks to which the trust is exposed and where appropriate systems or procedures have been established to mitigate the risks the trust face. The trustees are satisfied that systems are in place to mitigate exposure to the major risks.
The significant majority of risks are reviewed as a matter of routine e.g. staff movements, safeguarding, financial performance, competition, government policy, health and safety etc with any other being raised through board meetings.
External risks to funding are reviewed regularly while new sources of funding are sought to continue to grow existing projects. This is undertaken by the finance team. Internal control risks are minimised by the implementation of procedures for authorisation of transactions and projects.
Looking ahead, the Trust’s focus will be on securing a financially and operationally sustainable model with partners. Priorities include:
Expanding commercial income through venue hire and banqueting.
Completing the Treadgolds Renaissance Project and preparing a next-stage funding application.
Deepening community partnerships, especially around health, wellbeing, and youth engagement.
The operation of John Pounds Community Centre is continuing but with effect from 1 April 2025 is the responsibility of Portsmouth City Council.
The Board remains confident that, with continued collaboration and prudent management, the Trust will emerge stronger and more resilient in the coming year.
Governing Document
The Trust was incorporated on 22 April 2003 and is a private company limited by guarantee (Company number 04740185). The Trust is also a registered charity (Number 1100911). The Registered office and principal address of the charity is The John Pounds Centre, 23 Queen Street, Portsea, Portsmouth, Hampshire, PO1 3HN.
The Trust is governed by its Articles and Memorandum of Association which grant wide powers of investment to the Trustees.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
The Trust requires a minimum of 5 members who can be nominated by a number of prescribed local organisations. Ultimately the decision as to whether or not to appoint a new member rests with the Trustees. Trustees attend an annual Strategic Away Day which focus on the obligations of the trustee within the Charity sector. The Trustees also have access to induction training provided through an external training provider and continued online training through the Charity Commission website and solicitor newsletters.
Safeguarding
The Trust is committed to ensuring robust safeguarding arrangements to protect all vulnerable people including children, young people and disadvantaged young adults, who use the centre, from harm. Staff (including volunteers and trustees) receive information regarding the Trust's Safeguarding Policy, ongoing training and checks for criminal records before they have unsupervised access to children or vulnerable people. Any Safeguarding or Child Protection incidents are reportable to the Centre Director who will take the necessary action as required. The following guidelines are followed to facilitate this Safeguarding Policy:
Child protection & police checks procedure;
Employment procedure (References and DBS checks);
Portsmouth City Council's Code of Practice for Working with Children; and
Hiring Procedure (inc. checking qualifications and DBS checks on groups hiring centre facilities).
The Trust undertook a review of its Sageguarding and DBS procedures, with a new Trustee safeguarding lead to be confirmed.
The Trust maintains insurance policies on behalf of all the trustees against liability arising from negligence, breach of duty and breach of trust in relation to the Trust.
Members obligations
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The Trustees, who are also directors, delegate the day-to-day operation of the Centre to the Centre manager, and staff. Within the John Pounds Centre, the organisation is divided as follows:
Operations team - three Centre supervisors responsible for cleaning staff and managing operational aspects of the building;
Management team - responsible for the receptionists, marketing and promotions of the Centre and its activities and coordinating major events;
Finance Assistant;
Gym Instructors; and
Coaches and Project workers.
The trust also sources regular external bookkeeping support.
These functions report directly to the Centre Manager.
Significant decisions require a report to be written by the Centre Manager and presented to the Board of Trustees for voting, before any action is taken. The approval of all contracts must be signed by the Chair and one other trustee.
The Trust’s collaborative ethos remains central to its success. Key partners this year included:
Portsmouth City Council (Housing, Community, and Energy teams)
Aldingbourne Trust (café and catering)
Groundwork South (energy assessment)
Photoworks and Aspex Gallery (arts collaboration)
Solent NHS Trust and Portsmouth Hospitals University Trust
Princes Trust, Solent Mind, and HIVE Portsmouth
These partnerships have strengthened the Trust’s reputation as a practical, well-connected delivery hub for social impact in Portsmouth.
The trustees report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of John Pounds Community Trust Limited (the trust) for the year ended 31 March 2025.
Having satisfied myself that the financial statements of the trust are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the trust’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Since the trust’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the trust as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
John Pounds Community Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is The John Pounds Centre, 23 Queen Street, Portsea, Hants, Portsmouth, PO1 3HN. The principal place of business is Treadgold, 1 Bishop Street, Portsmouth, PO1 3DA.
The financial statements have been prepared in accordance with the trust's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The trust is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
The trustees financial projections have taken into account the ongoing impact of the loss in unrestricted funds. However, the active pursuit of new sources of income and the current level of unrestricted reserves, excluding fixed asset designated fund, have enabled the trustees to satisfy themselves that the trust remains a going concern.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Donated services and facilities are included at estimated market value being the estimated values of the services or facility received.
Grants receivable from government and charitable foundations are taken to income when the conditions for receipt are met. Grants are deferred if the donor specifies that the expenditure must be incurred at a later date.
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which it is receivable.
Membership subscriptions are recognised when received.
Charitable expenditure comprises those costs incurred by the Trust in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Trust and include the audit fees and costs linked to the strategic management of the Trust.
All costs are allocated directly between the expenditure categories of the accounts on a basis designed to reflect the use of the resource.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
At each reporting end date, the trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the trust's balance sheet when the trust becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
In the application of the trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Core funding grants
The Trust occupies premises provided by Portsmouth City Council (PCC). In addition PCC maintain the structure of the building. These benefits which have been quantified in the sum of £284,791 have been included as both income and expenditure in the accounts, the former on the basis of an estimate of commercial rent, the latter according to planned maintenance survey figures.
Community support facilities
Community support facilities
Facilities hire
The Trust's main activity is the provision of a community centre with income generated through the hire of the facilities by community groups, residents and medical providers.
Activity and coaching costs
Through the provision of a community centre, the Trust offers health and wellbeing support to the local community and the hire of its facilities to various groups and organisations.
The trustees consider that all support and governance costs should be allocated to the charitable activities of the Trust.
Support costs include payments to the auditor of £20,100 (2024- £21,600) for management accounting and bookkeeping services.
None of the trustees (or any persons connected with them) received any remuneration during the year, and none of them were reimbursed expenses (2024- none were reimbursed).
During the year the Trust paid, as part of its insurance costs, a proportion in respect of insurance to protect the Trust from loss arising from the neglect or defaults of its Trustees and indemnify the Trustees against consequences of any neglect or default on their part.
The average monthly number of employees during the year was:
The remuneration of key management personnel is as follows.
The income of the Trust is exempt from charge to tax in accordance with the provisions of the Corporation Tax Act 2010 and the Taxation of Chargeable Gains Act 1992.
A total transfer of £3,777 was made to unrestricted funds from various restricted funds during the year representing rent, room hire and administration fees for running projects.
Additionally, a transfer was made from Fixed Asset restricted fund to Fixed Asset designated fund of £411 representing the net book value of assets whose restriction condition has been completed.
The trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the trust in an independently administered fund.
The charge to profit or loss in respect of defined contribution schemes was £4,027 (2024 - £3,881).
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
Fixed Asset fund
This fund has been set aside to account for all assets purchased using restricted funds and comprises the net book value of these assets at the year end.
Reviving Treadgold building (cash fund)
Funding provided by Portsmouth City Council towards the restoration costs of the Grade II listed Treadgold building. This created a new multi use space, meeting room and ancillary spaces for the community use. Ongoing building costs continue to be funded.
Partnership Foundation
Funding received to support the set up of a community art gallery wall completed at 31 March 2024.
Heritage Lottery
Funded by the National Lottery Heritage development fund to conduct a feasibility study, business and cost plan for the long-term future of the Treadgolds listed building. This study is currently underway.
Cost of Living
Funding of £66,475 was provided through the Community Organisation Cost of Living fund delivered by The National Lottery Community Fund as a contribution towards core costs for the running of the centre.
HIVE Hardship
From the VCSE Hardship Support fund, this project was used to support warm spaces over the winter period for local residents.
LED Lighting
Funds of £8,301 were provided by the European Union Regional Development Fund through LoCASE funding and funds of £10,000 provided by Portsmouth City Council through the Charles Dickens ward Neighbourhood CIL fund, both being used to up grade the lighting within the centre to low energy LED.
HIWCF
The following are funds administered by Hampshire and Isle of Wight Community Foundation:
Food & Friendship - Funding from Portsmouth City Community fund. The project was an opportunity for Portsea residents to connect with the local community over COVID safe community meals, and provide wellbeing advice and support. Funding covered staffing, food, room hire and costs of activities which completed by 31 March 2024.
Silver Socials - Funding from Montagu Neville Durnford and Saint Leo Cawthan Memorial Trust fund. This provided opportunities for over 50s to socialise whilst enjoying familiar and new activities. Funding covered staffing, refreshments, room hire and materials for activities and was completed by 31 March 2024.
Arts sessions - Funding from Montagu Neville Durnford & St Leo Cawthan to provide art sessions to the local community.
Pocket Parks Plus
Funding through Portsmouth City Council from The Ministry of Housing, Communities and Local Government to refurbish parks where people can relax, exercise, socialise and play.
Groundwork UK
Groundwork were appointed by the Department for Culture Media and Sport to carry out the administrative functions of the VCSE Energy Efficiency Scheme. This funding was made available to upgrade existing lighting within the Centre to new LED lighting.
Asda Foundation
Funding provided towards the Warm Welcome project by offering hot refreshments and activities to the local Portsea residents.
HIVE Portsmouth
Funding from the Portsmouth Community Lottery administered by HIVE Portsmouth to run a Warm Welcome Place programme. This is open to Portsea residents to offer a warm space with hot refreshments and activities to socialise.
Portsmouth City Council
Funds administered by Portsmouth City Council relating to the holiday activities. This is a Department for Education for Holiday Activity Funding (HAF) and administered through the councils Holiday Activities and Food programme. This funding is used throughout the previous and current year to provide school children with meals and activities during school holiday periods.
Power to Change
Funding through the Power to Change Resilient Communities Fund. The funding was to provide support for increased energy bills allowing for uninterrupted daily operation of the centre. The funding ended during the prior year.
Household support fund
A grant administered through Portsmouth City Council of funding made available from the Secretary of State for Work and Pensions. The grant has been made towards food support services which the Centre has used to purchase and run a new delivery van.
The National Lottery Community Fund
Funds administered by The National Lottery Community Fund relating to a Portsea Winter Warmers project. This grant was to fund drop in and community session activities for low income Portsea residents to socialise and stay warm who are impacted by soaring heating bills. Funding was used for refreshments and support staff.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
Renewals fund
The renewals fund was set up to cover the cost of replacing computers and equipment based on a 10 year renewal programme, which was essential for the Centre. At the year end this fund balance was transferred to general funds as no longer operating at the Centre due to the move of premises.
Social Enterprise fund
The social enterprise fund was to assist the development of business established by local residents within the Centre. At the year end this fund balance was transferred to general funds as not longer operating at the Centre due to the move of premises.
Project Closure Costs fund
The project closure cost fund enabled the Trust to continue to provide services for a period beyond that covered by the grant, whilst actively seeking new sources of funding. At the year end this fund balance was transferred to general funds as not considered necessary due to limited projects ongoing.
Gunwharf
A donation provided by Land Securities Properties Limited used against the running costs of the Centre.
COVID Recovery fund
Funding set aside to help with transition back to normal centre services over five years.
Foodcycle fund
This fund has been set aside to support the ongoing operation of the foodcycle project through donations and contributions from "kitchen takeovers" and fundraising by the Trust.
Food Portsmouth fund
This fund has been set aside to help support future workshops and events in the community and is funded by donations and fundraising by the Trust.
Holiday Activity fund
Through additional contributions, this fund will help to support school children with meals and activities during school holiday periods.
Neighbourly fund
Funds provided to support warm spaces over the winter period for local residents.
Fixed Asset fund
This fund is an amount equivalent to the net book value of unrestricted fixed assets.
General fund
These funds can be used for any purpose to further the objectives of the charity.
At the reporting end date the trust had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
The operating leases represent subleases to third parties. The leases are negotiated over terms of 1 year to 10 years and rentals are fixed over the term of the lease. All leases are not continuous at their end date and must be renewed to allow continued occupation.
At the reporting end date the total future minimum sublease payments expected to be received under non-cancellable subleases was
During the year the trust entered into the following transactions with related parties:
Christ Central Church, a charitable company for which A North is CEO, hired facilities amounting to £21,298 from the charity. The hire of these facilities occurred whilst trustee to the charity.
The trust had no material debt during the year.