Mick Jagger arrived with Jerry Hall

Sir Elton said he admired the prince's commitment to young people.

"He is one member of the royal family that really wears his heart on his sleeve," he told BBC News.

"He is a very good man with a big heart and he wants to help young people have a future.

"We say yes unconditionally to any of his requests because we know that the money is going to the right place," added Sir Elton.

Prince Charles is great

Jerry Hall

Other guests at the bash included Ben Elton, Stephen Fry, Cat Deeley, Frank Bruno, Joanna Lumley, Richard E Grant, Ben Kingsley, Geri Halliwell and Sting.

Sting, who has been involved with the charity for 15 years, said this was his second visit to St James's Palace.

"You always know you've done well when you're invited back," he said.

"It's important for royalty to be involved in normal people's problems," Sting told BBC News.

"We are very proud to be part of it."

Sir Elton John arrived with his partner David Furnish

Mick Jagger said he had also been involved with the trust for a long time.

"I have been to lots of concerts and shows," he said.

"It's a wonderful charity."

Jerry Hall added: "Prince Charles is great."

Also at the party was sprinter Julian Golding, who won a gold medal at the Commonwealth Games in Kuala Lumpur.

He was given �300 by the trust as a youngster to help pay for trainers and running equipment.

"It was great that they took an interest in me to help me get to the level in my life that I did," he said.

On Tuesday, the prince will speak about the trust at a Centrepoint homeless centre in south London.