REGISTERED COMPANY NUMBER: 3271298 (England and Wales) REGISTERED CHARITY NUMBER:1060157 CROYDON VOLUNTARY ACTION REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Croydon Voluntary Action Tru5tees' Report 31 March 2024 CVA TRUSTEES, ANNUAL REPORT: 2023-24 INTRODucfioN In 2023/24 CVA set out its Vision for community-life in Croydon, setting strategic goals that represented the impact and influence of our work since 2020 when Covid19 changed everything. By 2023 CVA was spearheading a devolution programme to reboot local democracy. championing a community-led delivery-model prioritising prevention over treatment; and campaigning for investment in Croydon's wider civil 50ciety- via local commissioning, corporate social responsibility and external fundraising. CVA TRUSTEE BOARD-THE PUBLIC BENEFIT The trustees, who are also directors for the purposes of company law, are pleased to present their report (being the directors, report as well as required by company law) together with the financial statements of the charity for the year ended 31 March 2024. CVA's trustees referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the organi5ation's Strategic aims and planning its future activities. Our mission statement focuses us on "promoting, supporting and developing effective voluntary action, community development and community activity for the benefit of the whole community within the London Borough of Croydon" Our purpose is to enrich family and community life in Croydon by supporting the full breadth of its civil society activity- from volunteering and active citizenship to grassroots community action and specialist service-delivery. The Board appoints and supports a Chief Executive to manage our day-to-day operations and ensure, with the staff team, that CVA delivers on its mission. NEW STFIATEGIC AIMS The strategic plan agreed by the trustees in 2023/24 pledges CVA to empowering local communities, promoting our voluntary, community, faith and social enterprise (VCFSE} sector and securing investment in its work. The plan is a collaboration - none of it can be delivered unless CVA works effectively alongside our VCFSE partners and with Croydon Council, Croydon NHS, the Metropolitan Police, Croydon College, Croydon businesses and other key stakeholders. The aims set by the charity in 2023/24 are to: Strengthen the voice of Croydon's civil society Expand the role of Croydon's civil society Maximise investment in Croydon's civil society Croydon Voluntary Action Trustees, Report 31 March 2024 Strengthening the Voice - Our aim is to help breathe new life into local democracy via the genuine devolution of power and responsibility to local people, giving even the most marginalised groups in society a stake in Croydon's decision-making process. CVA will continue to support Croydon's VCFSE organisations to speak with one voice, advocating on their behalf and acting where necessary as an independent critic of government. Expanding the Role - Our aim is to give Croydon's VCFSE organisations an expanded role in service-provision, starting at the hyper-local level with neighbourhood activities and extending to borough-wide programmes led by VCFSE delivery-partnerships. We will promote the VCFSE model of provision, capturing how asset-based community development, volunteering, early intervention and prevention all shape the model and focus it on tackling the root causes of inequality. Maximising Investment- Our aim is to bring coordination and cohesion to VCFSE funding in Croydon and to support a shift in investment towards the community-led model of provision from both within the borough and via external fundraising. We want to consolidate all VCFSE funding sources in Croydon under one roof to coordinate investment in the sector's work and achieve best value for local people. TAKING AcfioN IN 2023124 Examples of how we put our plans into practice this year include: Strengthening the Voice: Spearheaded the development of six Local Community Portnerships in Croydon, giving people in every part of the borough a new and empowering way to get involved in community life. CVA'S networks and alliances (i.e, the Food Poverty Network and the Croydon Mental Health Alliance) continue to give VCFSE groups a seat at the decision-making table, but this year our 5UPPOrt stretched further into local communities, making CVA the go-to organisation for resident associations, foodbanks and neighbourhood support-groups wanting a say in how Croydon's recovery is managed. Championed Croydon's VCFSE sector at the Integrated Care Board {ICB) and Integrated Care Partnership IICPI NHS meetings, where we represent the South West London Voluntary and Community SertorAlliunce on its top health priorities - mental health, children & young people, older/frail people, long-terrn conditions and workforce development. Convened the CEO Group, bringing a cross-section of the local VCFSE into negotiations with the Mayor of Croydon and the Croydon NHS leadership on local commissioning opportunities, Croydon's Social Value Policy and external fundraising. Expanding the Role: Trained up Community Organisers in ABCD methodologies across Croydon and SW London; ran the Leadership and Skills Development programme for VCFSE staff, Croydon Voluntary Action Trustees, Report 31 March 2024 trustees and volunteers; and supported VCFSE organisations to develop their skills in impact measurement- inducting them on the software and upskillingthem in evidencing value Built up Croydon's network of Community Hubs- prioritising the Healthy Communities Together Hubs - providing local people with gateways to community- led activities and social-support systems across every locality; and collaborated with the Council to provide office, training and activity Spaces for VCFSE organisations Recruited a cohort of new volunteers. supported our existing volunteers; managed all the new volunteering opportunities. and helped Croydon's volunteer-involving organisations to set up and manage their placements Profiled all the latest information on fundin& events, training and resources via e- bulletins and on CVA'S web51te (linked to the Simply Connect Directory)- focussing on key VCFSE issues every month Maximising Investment: Submitted a successful bid to the Mayor of London on tackling violence affecting young people- CVA will lever up to £1.6 million into the borough overthe next four years to support our partners in working with Croydon's most at-risk young people Supported the Reedham Childrens Trust in managing its £300,000 Youth Innovation Fund- co-creatin8 a new model of youth provision in Croydon based on strengthening families, partnering with schools and investing in community-run youth centres Co-managed the £250,000 Localities Commissioning Fund- targeting funding at group5 delivering on transformational health and care outcomes that reduce dependency on statutory services by putting prevention first, supporting people into Positive activities that encourage independence and self-sufficiency Managed the annual winter warmth donations via our Croydon Care5 Campaign and led on Croydon's Playzones application to the Football Foundation for new and refurbished recreation facilities Collaborated with the Council and Croydon NHS in managingtheir contracts pipelines creating a schedule of coproduction workshops and tendering opportunities - and in brokering social value benefits for Croydon's VCFSE sector through selected commercial contracts FUTURE PLANS The priorities in 2024/25 include: Establishing the Local Community Partnerships (LCP) within Croydon's governance and decision-making structures- through formal reporting to the Health & Wellbeing Board on each LCP'S Community Plan Croydon Voluntary Action Trustees, Report 31 March 2024 Promoting VCFSE leadership and integrated partnership working through the CEO Group's quarterly action-planning with the Mayor of Croydon and Croydon NHS Extending CVA'S asset-ba5ed community development SUPPOrt across every locality Raising the profile of volunteering and its importance to Croydon, while placing more volunteers in community organisations well-equipped to manage them effectively Fundraising successfully to support at least one major VCFSE delivery partnership Developing our partnership with the Reedham Children's Trust to support Croydon's most vulnerable young people- and theirfamilies FINANCIAL REVIEW CVA, in its role as the infrastructure body supporting Croydon's local VCFSE, no longer receives core funding from our cash-strapped Council, so it is testimony to CVA'S financial team that in spite of our income falling over the year - from £1,649,508 to £1,565,269- the charity Still recorded a surplus for the year of £44,899. CVA ha5 the great good fortune to have in Mike Mulvey a Treasurer who, supported by our colleague Sandra at BSL, provides CVA'S management team with the discipline and rigour needed to remain within budget on almost every project- notable exceptions being the Volunteer Centre and Business Services {supportingthe CEO post) budgets that are heavily subsidised. We are very thankful to all our funders for investing in CVA and the frontline organisations and visionaries we support, who are committed to helping improve people's live5. Our major funders for 2022-23 alongside Croydon Council, Croydon NHS and the One Croydon AlSiance were the Greater London Authority and the London Marathon Trust. RESERVES POLICY Our unrestricted (free) reserves remains stable at £619,534 and well within the desired level {250A of annual turnover). The designated resenies of £300,000 has been earmarked for the restrutturing of CVA'S workforce following the Council's decision to in-source the accommodation centres run by CVA since the 19905. RISK MANAGEMENT Identifying and managing the risks facing CVA are important elements of the Board's commitment to good governance. The overriding principle behind the Board's risk management approach is to ensure delivery of CVA'S strategic objectives and protect the reputation of CVA, as well as controlling resources efficiently and effectively. CVA is POSltioned as a leader of the VCFSE in Croydon and, as a key partner to other deliverers of public services, is accountable to local people. It 15 imperative that as an organisation we ensure that our reputation with key audiences reflects this. Trustees are updated at Board meetings on the status of CVA'S principal risks and in 2023/24 these remained the pressure on our core management services and the future of our Council-owned centres. Croydon Voluntary Action Trustees, Report 31 March Z024 LEGAL AND ADMINISTRATIVE DETAILS Croydon Voluntary Action (CVA) was established in 1907 as an unincorporated association called the Croydon'Guild of Help,. Since April 1997, we have operated as a company limited by guarantee. The governing documents are the Memorandum and Articles of A55ociation of the company. Our serving trustees in 2023124 were: Karim Hemani (Chair) Ghazala Mirza {Vice Chair) Mike Mulvey (Treasurer) Carole Parnell (Governance Lead) Susanette Mansour (Continuous Learning Lead) Terry Roberts (One Croydon Lead) Helen Smith (Performance Management Lead) Ashok Kumar Mary Mccauley Ann Tighe (resigned 31.3.24} The Board agreed in 2022 to rotate its membership with the intention that all Trustees would be appointed on a fixed term by April 2024. This has been completed with each Trustee's length of service capped at two fixed terms - 6 years in total. New trustees are appointed by the Board on the recommendation of a recruitment panel and newly-recruited trustees are inducted by the honorary officers on their new roles and responsibilities. Key management remuneration is set based on pay scales and market rates. Our legal and administrative details are as follows: Registered Name: Croydon Voluntary Action ICVA) Company Registration Number: 3271298 Charity Registration Number: 1060157 Registered Office Address: 82 London Road, Croydon, Surrey, CRO 2TB Bankers: National Westminster Bank PIC Independent Auditors: Haines-watts Chief Executive: Steve Phaure TRUSTEE RESPONSIBILITIES The trustees, who are also the directors of CVA for the purposes of company law, are responsible for preparing this report and the financial statements in accordance with Croydon Voluntary Action Trustees, Report 31 March 2024 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, includingthe income and expenditure for that period. In preparingthese financial statements, the trustees are required to: select Sultable accounting policies and then apply them consistently observe the methods and principles in the Charities SORP make judgements and estimates that are reasonable and prudent state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation adopt the Financial Reporting Standard for Small Entities. The trustees are also responsible for safeguarding CVA'S assets and for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: there is no relevant audit information of which the charitable company's auditor is unaware; and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006. Signed on behalf of the trustees: Karim Hemani CVA Chair Iilizl2014 Independent Auditor's Report to the Members of Croydon Voluntary Action Opinion We have audited the financial statements of Croydon Voluntary Action(the 'charitable company,) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, Balance Sheet, Cashflow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and RepubliG of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the charitable companls affairs as at 31 March 2024, and of its incoming resources and application of reSoUr￿s, including its income and expenditure, for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi￿. and have been prepared in accordan￿ with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordan￿ with Intemational Standards on Audtting (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audrt of the financial statements section of our report. We are independent of the charitable company in accordan￿ with the ethical requirements that are relevant to our audit of the finanaal statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wth these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concem In audrting the financial statements, we have conduded that the trustees, use of the going GOn￿M basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charttable company's ability to continue as a going con￿rn for a period of at least I￿e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees wth respect to going cOn￿M are described in the relevant sections of this report. Independent Auditor's Report to the Members of Croydon Voluntary Action (continued) Other infonnation The trustees are responsible for the other information. The other infomiation comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not Gover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have perfomied, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit". the infonnation given in the trustees, rewrt (incorporating the directors, report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and the directors. report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the chaiitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors, report. We have nothing to report in respect of the followng matters in relation to which the Companies Act 2006 requires us to report to you rf, in our opinion: adequate accounting records have not b￿n kept, or retums adequate for our audit have not been received from branches not visÈted by us; or the financial statements are not in agreement with the accounting records and retums. or rtain disclosures of directors, remuneration specified by law are not made. or we have not re￿iVed all the infomiation and explanations we require for our audit . or the trustees were not entitled to prepare the financial statements in aCC￿rdance with the small companies, regime and take advantage of the small companies, exemption in preparing the directors, report and from the requirement to prepare a strategic report. Independent Auditor's Report to the Members of Croydon Voluntary Action (continued) Responsibilities of trustees As explained more fully in the trustees. responsibilities statement set out on page 6, the trustees (who are also the directors of the charitable company forthe purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the charitable companls ability to continue as a going concem, disclosing, as applicable, matters related to going con￿rn and using the going concem basis of accounting unless the trustees either intend to liquidate the charitable company or to ￿ase operations, or have no realistic altemative but to do so. Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assuran￿ aboLrt whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assuran￿ is a high level of assuranTr, bLrt is not a guarantee that an audit conducted in accordan￿ with ISAS (UK) will a]ways detect a material misstatement when tt exists. Misstatements can arise from fraud or error and are considered material rf. individually or in the aggregate, they could reasonably be expected to Influen￿ the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We obtained an understanding of the legal and regulatory framework applicable to both the charity itself and the environment in which it operates. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience and through discussion with the directors and other management. The most significant were identified as the Companies Act 2006, UK GAAP (FRS102), Charities Act 2011 and relevant tax legislation. We considered the extent of compliance with those laws and regulations as part of our procedures on the related financial statements. Our audit procedures included: making enquires of trustees and management as to where they consider there to be a susceptibility to fraud and whether they have any knowledge or suspicion of fraud; obtaining an understanding of the intemal controls established to mitigate risks related to fraud or non-compliance with laws and regulations; assessing the design effectiveness of the controls in place to prevent and detect fraud; Independent Auditor's Report to the Members of Croydon Voluntary Action (continued) assessing the risk of management override including identifying and testing joumal entries; challenging the assumptions and judgements made by management in its significant accounting estimates. Despite the audit being planned and conducted in accordance with ISAS (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularity likely involve collusion, forgery, intentional misrepresentations, or the override of intemal controls. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website atwww.frc.org.uklauditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Use ofour report This report is made solely to the charitable companls members, as a body, in accordance with Chapter 3 of Part 16 ofthe Companies Act 2006. Our audtt work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not ac￿pt or assume responsibility to anyone other than the charitable company and the charitable companls members as a body, for our audtt work, for this report, or for the opinions we have formed. 8Pkn Ac Susan Plumb ACA, Senior Statutory Auditor For and on behalf of Haines Watts Chartered Accountants and Statutory Auditor Old Station House Station Approach Newport Street Swindon Wiltshire SN13DU IElILlioZY 10 CROYDON VOLUNTARY ACTION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Ilncludlng Income and Expend5ture 3¢covntl Notes Unrestrict¢d Designated Funds Fund5 Restrlcted Funds Total Funds 2024 Income 2023 Donations Inveslment InGoming Resources frINn Chantabl8 Adwibes Charitable activities Other trading activitie5 13.737 13.737 4.367 206.216 424,169 921.147 1,127,363 424.169 1,300.209 344.932 Total Income 921 147 1565.269 Expendlture Charitable activities 4.11 693.057 827.313 1,520,370 1,942,713 Total Expendlture 693.057 827.313 1,520,370 t 942713 Gainslllossesl on investments Net Income I lexp&ndlture) 148.9351 93,834 44,899 1293,2051 Transfers betsyeen funds 11,12 Other recognlsed gains I11055esl Remeasurement gainllloss on defined benefil pension plan S18,OTrJ 578,OC 1.568.000 Net movement In funds 469,595 60.rJ)o 93.304 622,899 1.272,795 Balances brought forward at 1 April 2024 2.454,230 2410.OCQ f20.259 2.814,489 1.541.694 Balances carrled forward at 31 March 2024 2,923,825 213,563 3,437,388 2,814.489 Included in the above deficit is £88,orA) staff costs relating to ihe movem￿1 in Ihe LGPS liability as required by FRS 102. Excluding this cost the surplus is £124.307. All Ir8n$a¢lions are derfved from continuing 8Ctivtties The notes on page5 14 to 22 form part of these flnandal ststements CROYDON VOLUNTARY ACTION BALANCE SHEET AS AT 31 MARCH 2024 Notes 2024 2023 Fixèd assets Tangible fixed a55ets 1,235,￿2 1,235,￿2 1.273 901 1,273,901 Cyrrent assets Debtors Cash al bank and in hand 365,639 975.730 1.341,369 173.656 1.029.973 1,203.629 CTedltors- Amounts falllng du8 within one year 208,543 242.041 Net current assets 1,132.826 Total assgts less current Ilabllitl•s 2.368.388 2.235,489 Defined bèneflt penslon Ilablllty 10 1.069.0 579,OCNJ Net assets 3.437.388 2,814,489 Funds: Restricted Fun¢Js Designated Funds Unrestricted Rèserves Funds Pension reservg Fixed asset fund 213.563 300.000 619.534 I.C69.￿)0 1.235.291 120.259 240.000 601.329 579.000 1,273.901 12 12 12 Total funds 14 2,814,489 The financial slalements have been Prepared in acwdarKe knith the PTOViSkmS of the Companies Acl applicablè lo ¢ompanie5 Subject lo the sm811 cornpanies, regime. Approved and aulhorised issue by Ihe Board ￿ . nliLILb Karim Hemani - Chalr The notes on pages 15 to 20 form part of these financial statemènts Company number 03271298 13 CROYDON VOLUNTARY ACTION CASH FLOW STATEMENT Cash Ilows activities from operating 2024 2023 Nel movement in funds 44.899 1293.2051 Adjuslmenls for.. Depre¢iallon of tangible fixed assets 38.610 38,592 Purchase of fixed assets Other interesl receivable and similar income {2711 {13.737) 14.3671 Defined benefit costs 251,(X)O Changes In.- Trade and tslher debtors Trade and other creditors 1191.983) (33.498) 210,954 1159,8661 Cash generated from operations (67.980) 43,108 Inlerest received 13,737 4,367 Nel ¢a$h from operating aclivilies 54.243 47.475 Net Increaselldecr$asel In ¢ash and Cash Èqulvalènts Cash and cash equivalents at begrnning of year {54.243) 47.475 1.029.973 982,498 Cash and cash equlvalents at end of vear 975.730 1,029,973 13 CROYDON VOLUNTARY ACTION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1. ACCOUNTING POLICIES #l Gtrnpral infomiatlon aftd basis of preparation The charity is a priv2te company limited by guaran￿, ￿gist￿E¢ in Erxjarhy Wa1<5aTrl a iegiaerEd thrdyin EffjlaThJ Wales. Th8 8ddre55 ofihe registered office is 82 Lendon Road. Croydon. Suffey. CRO 2TB. Tre siaiÈnRrts wepared L478 wrvj Co￿8M bays ￿lerty￿ IM*orrtra1 cost convention. modified io It￿lude certaill Items at frdirydl￿. financial statements have been prep8red in accordarte wilhAfxouthrwJ arKS Rewb'rvj by Charities". siatement of Recemmended Practice applicable to charities preparing th￿r&￿￿￿t5 in &COT6arKe with the Fina￿13) Reportiro Slandard applKat4a in the UK and RepU￿1c0f1re]atKI IFRS 1021 eff8Ctlve 1 January 2015- (Charflies SORP FRS1021, the FIr￿￿481 siarKlard in VE Urtsl ￿rty10M ar#1 Republk of Ir8laTrJ IFRS 1021, ￿ Clwribe5 Act 2011. the CoErpan￿ACt 2006. TrE charity cortstitutes a public ber￿ritentity. finartl81 ststements have been pEpared on th8 ha0[￿1 cost ba&4 as modtlknl byts rWdlLBti￿Ofc8rtaln firondal assets aTrJ Iwbil+be5 antt TrNestrnents fflegsured at ts1rvdl￿ Ihrowh lrtome oreXper￿dure. The financial ststeTRerts are pIÈ￿red in Slerlii¥. wluch is io wrESt £. Golng concorn TherB are w maiÈrfal uncertai￿a$ r8gardiNJ tf* atxlity of Il* ¢lwity tocrytyrKE. Tre tn*tees tIErEtse corth¢ to adortth8 go￿ corK8m ba￿$ in prepariny th8 finawal stat8merrt& bl Flxed assets Fix&1 assets are record&1 al cosL Any ftem L￿derE2,&￿ b Èxpwl to tt*SOFA tt* yeariDvtrKh rt l Deproclation Depreciation 1$ prDwdeO on all tsrwJibie fixpAI as$ets. ollErllwn IrEehJd LryTrJ. 81 ￿leS Ca￿ated iowfile¢J￿n fv ¢osiorwdluatiN, kss eslmated rBS#lual dlue. of all t2ffjibt8 fixed assets e¥￿￿ ov8rtr*irexpected a5 fdky5." Cofflputer eq￿Prn8nt Equipfnent Lea5elKIFd latKI aNI *￿ildIng$ aTrJ improvements (less tt*n 50 yoaTsI Free￿1￿ pffjpety and leases Dver 50 yea - 3 yeaE5 . 8etr4een 3ar￿ Ioyea .50￿a dl Inv?stments Investfflent5 i*kJ as fixed assets ao ststed #ttsrtsirval¢* AnygairfkAsl thyl￿ ￿0d is takento IIE Statemer4ofFir*wal A￿vIb&s as WbTaali88d gHinpllloss881. 81 Resources Expended ExpÈnditur8 is recognised on an accwals basisasa f￿bl￿ty is if￿rr*I. ExpeNthtJE awVATwl** ¢2rmt fiJlyrtto¥pJed, JTKI t5 CL￿￿fiad under heading5 of the 5talerneni offinantial aL*wtse5 towluch it reEales'. . expenditur¢ on Charitab￿ adiwtits irtlthles311 co* Ir￿l￿O by a • in LDJwtskirg thbes that fi*tsr its d¥r#able aims *)rthÈ benefit oflts ben8fiuari88, irtlL4llr¥J thx8 sw cods 8Th1 r￿)￿ rdawitJts thrity aprrtxt￿I ¢0 charftable acti¥(Oe& ' otherexPe￿itiTrIrt1￿e$ all 8xp8mfth 1srnrf1*r￿aIe[l1ts fdiSt¥ trthe treiity rnrpart<*ts#xpÈ￿rt￿ on thaf11a￿e acb*il AII c0515 are all￿died to expenditfft eaiegorTes the we ofthe ￿￿￿ce. Direct costsattribthNe ¢0 a 8ctivityafè aP£￿ted thray to Ihal adwty Sharad costsare apportioned btheen the athvlties tw conthbthe lo (x) a reastsnable, Justifiab￿ aTrJ cortslstert basis. Incom5ng RBsoure•s All incomin9 resoLYCeS a￿ included in statement of fin8r¢ial actiwti8s when eNitlem*tt has passed to charity." it 45 protsa￿e that the e￿n0￿￿ IwEffts a5fncialEd ￿th the tyan5aGbon will Row tts Ihe tharityat¥J a￿K)u[rt can be relkawy measur•S. Tr fDIIwry 5ppciRc pDl¢iBs a￿ appli8d le particular rategorfe8 oflrKome.' in￿rne fvom dO￿t￿)n$0rgIartS ts r8cegrMsed isemderte ofertillu￿ to￿ git rKeipt i% WObab￿ and tts amoLrtcan be meaw-ed reliably. . legacy income is rwnised Wh￿ re¢eipt is fvtle errtiuen￿ 15 estaththd. • irtome fmm donaled goods i4 measured at the f81r value ofthe 9X￿SL￿1￿$S t￿$ is impractirA to measure rdkqbty. inwfdctt case Ihp Wdlue 1$ derived from the cost lo the dollor orthe estimated resale walue. Oonaled frdciftbes services aTr rwused Int￿ acwLrts wtw re￿IVEd if¥* valu& can b8 reliably measurad. No 8mounts are [r￿luded forthe ¢orlrfbthonofgew￿ . I￿0[￿￿ frotn ¢ontArts forthe swly of sèM¢e$ 15 rKognised Y￿th delI￿ry Of￿ corrt￿ seNce. This 1$ dawfied as threstrbcted fLThJs unless ihere15 a wntra&L41 reqLMf8mertfor tt to b8 spenton a parOcLaarpwpose ￿L￿ned rf in ¢ase it may ba ¥egard•J as r8stsicted. gl Dtrbtors and crediters Ttade other debtorsare r8coJThs8d at th8 88tUemwl ama￿* afteraThJ trade d4yxxrt. aroval￿j al tl* afflc￿ PTEpakl ￿ ofairy dIsc￿lS. C￿110¢$ and pro￿￿ty￿ ar8 r¢cogrNsed dk8rity a wsert Obligati￿ re&dbry fvDm a past e¥ent thatwill rxrwy ￿SUtt Intts trary5fer DffLtylsto Ihird party arnj th8 amowtto seÈde the obllgation can b& m8a8W8d or8slknaled f8labty. 14 CROYDON VOLUNTARY ACTION NOTES TO THE FINANCIAL STATEMENTS Icontinvedl FOR THE YEAR ENDED 31 MARCH 2024 1. ACCOUNTING POLICIES Icontinuedl h) Fund¥ 'Unreslricted fvrKJ5 are awdilab￿ fOr￿e at the discrelimofts ￿￿te¢StO IwVEraryoltre tt8riW5 Designated fuTrls are wear1c￿ ftJTr4s earn￿￿ed byll* tru5teesfDrpartKLlarkn proJectorrmmbtrn8rt Restdcted knds ar8 gJbl8ctad to rSthli¢M￿ ￿ UwexperKliture dKlar&J bythe dcmr. 11 Tax statu$ Croydon VolLntsryActhM is a r89isEered cforfty. Numb¥ 11￿157. ar*1 15 exempt frcrfn irKome 8Tr1 capital gains tax ￿derkn￿ provSslons ofSectTon 505 oflhe Inwme aTh1 Cwratitin TaxesAct 1988 aTrl SK¢ion 145111 Of￿ Capital Gains Tax Act 1979. 11 Leases R8nt81$ paid uTh18rop8raUrYJ leases ar8dotwI to a stsatyJN lir* basis ￿rth? ￿8&{￿)n. kl P8nslons Etnployees of Ihe cb.arityarÈ eligi￿e for rrvnberthpofa M￿￿.￿m￿)y8fdeThned be[￿fft TIE a55p15 of the 5dEme aTE held separately Ihw of the Gharity in an iTrleFeThlenUy admiAstered lthj. pewn eost repreS&tsC(x*Jib￿MI￿s payable by the th#rity fDrtt% year. Fwttwdetails regardf￿ Ihè sC￿e are ¢ti*k)sed tn 15to Ilwe fir￿81 statemert& 2. INVESTMENT INCOME Untsstricttd Funds Total 2024 Tofal 2023 Arisirvd trom". Bank interest 13,737 13,737 13.737 13.737 4.367 4.367 3. OTHER CHARtfA8LE ACTN¢Ties Total 2024 Total 2023 Room hlre arKI li￿n¢9 424.169 4. RESOURCES EXPENDEO ON CHARITABLE ACTivmES T27 5.997 105.317 242.041 Al defèrred income i8 rdeased In f￿l￿rI4 yaar. 10.PROVISIONS FOR LIABILITIES ANO CHARGES 2023 2022 Oefirr¢d benefit pe￿on lassetyliability (see role 161 579,C#]O CROYDON VOLUNTARY ACTION NOTES TO THE FINANCIAL STATEMENTS IEonty"ouedl FOR THE YEAR ENDED 31 MARCH 2024 11. ResTRICTEO FUNDS 8alance al Movemènt In r8s0urces Incominy Oulgoing Transf8r8 Balanctr at 31 March 2024 1 April 2023 A8CD MECC ABC Traiinit Best Start Cafè gfanls CoinmurTity FacililatitXI Capacity Building Cor8 20 Core 20 grarts COVID Awarer Forml Roots Grassroot5 [w￿l￿g LCP Cofflmi5sioning Croydofi CemmuTrty Lottery MEP dÈllvery MyerKJs MyeTrJs pathers NHS VCSE NHS vcse Partner5 OrÉ Croydon Trairfng Social PrtscribiNJ SWL Wirter Engagetrert SWL Winter Enga￿rnent grant5 Trauma Communities Cumtnuntt￿5 41.529 4.9Q1 30.119 16,000 50.206 15.400 29.092 15.315 10,217 8,389 4.558 16.597 I1.￿9) 3.155 3e224 16.r 35.028 5.819 47,7 17,072 13.993 18.450 22.244 16.638 2.013 11,360 t2.415 11.594 3,572 1.￿9 1,757 11.75TI 13,7761 10.809 3.672 20,425 10,061 29.198 11,512 2,012 4024 3.106 102.934 12581 3.￿8 7,000 13.229 69.322 3,775 245.LNJO 32. 63.685 43.5T2 3,775 12301 42.3S3 4.105 41.500 4.087 1.395 9.281 13.882 827.313 6.492 2.387 22,￿3 4.087 5.412 9.281 14.136 21.147 14.5ni Upshot Upshot grants Totsl re51ricled fvrxJ5 254 213.563 120.259 Restricted funds at the year e￿j (see final columnabJv8- balan￿ * 31 20241 represert fthts tArt y8t to be sp8rl on wific prni￿ls. TW are committed lo these 5pecthc prDjeGts $0 do rK)I rEpre58rrt a swlus IIW is aval￿bIt forgereral use byts trerity. ABCD MECC.. th¢s CCG txvjefytdelNers a c0mmwityd￿￿MW1 5eMce acrDssfv srLIIFeasl GP area. Best Start.. tNs earty SrteNerrtin project is creaorg 8S8et and I￿￿k marvr¥J le￿￿CeStO d￿￿0fA8CD sn N*AddiW. Caysh_a supported K)lurrte&riw proiÉ¢ Goorthrobry ￿l￿￿erP1a(¥merrtS foryow, p•We. Men8cp-a supported volunleerir¥ prDI￿1. coonlSnatirYJ wJlulBerplacemerts frJrFeWe with18arrMThJdisath"lths. This Girt Can- a oroject promolir4 grealerpartiapalin arn¢)￿ qids aThJ womell sn sport5 arwj r*ry*al adiwty Trauna Communilies-a partrership b&Ween Crnydon C4uKiI arml CVA aTrJ rn8rtiri￿ foryowvj p￿8 In prfmary aTrJ s8cor¥Jary Sc￿01$ Children & Young Peop￿ . A fonm of settw grDWS with famTI atMI in CrDydw' with a llJember*ip of ovv 300. 9foLP5 speclallsa in pr￿dIr$ emotbna5 gJppJrt supplemerrtary &ytKatK7￿ wj. ran41￿￿ parwtsng is￿, frith wups3nd rnorp. We siand TDg81her. FurKl8d by th8 Greater Lorthn ALthinty. tr•s proj￿ defws on thè Loth Mayrf$ s0¢ial ir*egf*k* wath its fotU5 on sW)Wtiry rèfvy$e communllies in Croydon lo break through into mainstream $port5 Yory LondorEr5 Fwd. Local Netrork&' Tr LrKal Netwerk Exiw5 i(￿￿ra0 OE GLA orgaThSatiO￿ in CroY¥j￿ ladElirwa ￿th WI￿￿? to shafa infomatlon, 8XP8rfenc8, tsst prnctice (safeg￿￿l￿J'. imp*# Mo0￿￿1 knJr8¢sfjr*J rAar Yiiury Londoner5 Fund." Tr Crt)yYlon One Postcode project tackl8s krul* thrne by 5VPW)rtirg y¢x¥vJ rwle to sh7wcase th8ir gifts aThJ te P3rt ora rw Conve￿tIOn in Croydcn transfoming the relationship beN¥een YOLWJ people Htwj ttE Poli￿. ACH. A¢iNe CO￿[￿u[￿ty HUb.￿PpOrted by & LoTh1on Spori CVA ¢p**d tsACFI to Fewe wilh sporf aT¥J pty&cal 8cbMtie& MyEThJs. a GLA kndEd ants.knlfe crirre pyejKt gJpwthJ yth wmYer53rd parertwgarIsal￿ totac*Je yoth ￿81￿. Grassro￿$. f￿￿ admirri*er8d lft parWRp with Lorwjon Fowx1ation Wdrthrwj ￿artS to Cl￿￿￿￿￿5alr￿tsOr6 that can attract matth ILThaiTrJ from local lovestols. Hi5 GraGe Fo¢dbank- a ollCOVID grart to delI%ErcoMrn￿ hub swvices In Tkntton Heath. Covld Awareness- a project fwded by the South West LorKlon 1rte9rd￿ ca￿ Sythm INHSI to i￿rease aWa18r￿ ofa¥ailabletyacdnatror6 afyj to keep heatthy amongst Croydon wmmurvb8S that engagÈ Itssyiti mairy5¢ream sermces. Delt*red tfvwjh streel thfflpKxLS. MEP- partnership project ￿nded ty the Metropolitan poli￿ to raise awaMess of Metiobs in IIE BAKIE commw4ty. In collaboBth?nwlth Flne5sa Foreva. PJ Cemmurdty Services and ASBO Magazire Di¥er5ity Matters- Il's Our Mei- Croydw Vdwtsry Arjion I￿l￿.0r9.￿) Diwlded bth8en MEP grarrtito b8 disthtxrted trjthe path8rsl a￿d MEP delivery ICVA w￿r￿￿r￿￿OnI VCSE- a proj8Ct by th8 West LondM IniegTrled Care System INHSI to W on a ¥olWry. tomm￿￿ty arnt eltetwse across $VA boroughs ofmerton, Croydon, Wa*￿SWOrth, ￿ffjst0n. RicMwx1 Sthi to raise awar¥E55 ofUE VCSE ￿t￿l￿ the NHS better inte9rat￿ il In both govefflarte and dellv8ry. In colLqborats"on wfth the tyfNe ￿lL￿tsry secbJrinfra*nxth (xgarMsaiNM Thri￿ing Comrnunbt￿S- the deliverywas part ora nthtsl swy)rt kxwrdfflffle promded bythe Naltth*l Acad8mYfor￿L￿ Pr￿ribl￿ INASPI, which aims to brfng all tvpes ofvoluntary, ¢omfflwylY. faith ￿KraI enterprise orows in EThjIa￿ to work a￿￿$￿Je soryal prEscribir￿ I1￿1￿0￿erE This fiJTrliThi came throwh Lornlon Plus. 18 CROYDON VOLUNTARY ACTION NOTES TO THE FINANCIAL STATEMENTS Itontlnuedl FOR THE YEAR ENDED 31 MARCH 2Q24 12. OESIGNATED AND OTHER FUNDS Deslgn3ted Funds Al 1 Aprti 2023 Incomo Exp¢rKliture Transfers1 pwnslon movement 31 Mareh 2024 Staff conlinqenGv fund Bu84nass conUnu5ty fuTh1 Combined malnlenanca h Comrnunily Assets fuTrJ Supportinq charitable acti eo.OfKJ 30,OOD S0.QOD 60.000 3W.000 60,000 Flxed Asset fund 1,273.911 .610 1.235.291 Unrestrjcted funds General fund Pènsion rÉsÈi¥e fA)1.329 579.rtsj 1.180 329 644.122 I￿6.447) 8&.￿0 654,447 159,4701 578,000 518,5YJ 619,534 1.069 000 1.688.534 644.122 The flxed asset fimd repre5errts ts prDpert￿. equipment ar¥J fwnitwe by CVA Tr deprtis*￿n cl¥8fge ye8rbas b88n thhrpd lothi5 fiJ¥J. Th818vd ofde$ignaled funds been rtwewed at ttE yearern1 aTrJ are as fi)1￿￿..- The Siaff Conting8n¢y FvrK$15 ￿ ¢o¥erpotenbal ￿str￿rir¥ costs. The BU￿ne$S C¢rlinuty Fund is to Gover replacnEnt Ir equiprnertaTrJ (ts wpethj costs Of￿ The Combines Maintenarte f[J￿£ is lo coverarry sqnificart pro￿rtY maintenarte cost5. Community Assets furny. A fu￿ fAS been created lo supwrtlhp cwmunty in ￿ transferefwaterside from Croydon C¢￿1 (o CVA. Charitsble 3Cti*ities lund Is to cover specifK woiedsthe tnJ#Èes aqrEe to SUD 13. ANALYSIS OF NET ASSETS 8ETWEeN FVNOS Tangible rr4ed IAs8ts Neteuttent assets Total Reslricted fund5 Designated funds UnrÉstrict8d free r88w ffftjs Pension rpseNe Flx¥J Asset fund Total funds 213.563 3W.000 619,534 579.fjlo 213.563 )0.000 619.534 579.OOQ 1.235 562 3.437.388 1.235,562 1.23S.562 2.201,826 The fixed asset is rePreSert￿ by propetss W by CVA aThJ ottEr larYb￿ fi￿j assels￿￿are readty accessible and available as fvr•Js to the chadty. 14. RECQNCILIATION OF MOVEMENT ITr4 TOTAL FIJNDS 2024 2023 Funds al 1 April 2023 Nst outgoing resou￿8S torlha ye¥ Funds at 31 Mafch 2024 2.814.489 622.899 3.437.388 1.541.694 15. SHARE CAPITAL The ¢ompany is lunw by gu•rtse and Iw5 IKI slkryre ¢apKal. Thè of ffs memtW5 15 limited to £1. lg CROYDON VOLUNTARY ACTION NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2024 16. PENSION COMMITMENTS Defined benefit pension plans Croydon Voluntary Action parlicipates in the London Borough of Croydon Pension Fund which is part of the Local Government Pension Scheme (LGPS). The LGPS is a fur7ded defined-benefit scheme, with the assets held in separate Iruslee-administered funds. The employer contribution made for the year ended 31 March 2024 was £109,661 (2023 £87,230). The agreed contribution rates for future years are 17.5 /0 for employers. The total cost recognised in the period was as follows: 2024 £000 2023 £000 Current service cost Past service cost Plan introductions, changes, curtailments and settlements Net interest income l expense (115) {222) 27 (22) Recognised in profit or loss (88> (251) Recognised in other comprehensive income 578 1,566 Total cost recognised 490 1,315 Amounts recognised in the balance sheet were as follows: 2024 £000 2023 £000 Present value of funded obligations Fair value of plan assets {4,663) 5,732 (4,5751 5,154 1,069 579 CROYDON VOLUNTARY ACTION NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2024 Changes in the present value of the defined benefit obligations were as follows.. 2024 £000 2023 £000 Opening defined benefit obligation Current service costs Past service costs Interest expense Actuarial (gains) I losses Contributions by scheme participants Benefits paid (Gains) I losses on curtailment 4,575 115 6,069 229 218 {149) 33 (129) 166 {1,809) 36 (116) Closing defined benefit obligation 4,663 4.575 Changes in the fair value of the pension plan assets were as follows.. 2023 £000 2023 £000 Opening plan assets Interest income Actual return on plan assets (excluding interest income) Assets distributed on settlement Contribulions by employer Contributions by scheme participants Benefits paid 5,154 245 328 5,333 144 (324} 101 33 (129) 81 36 (116) Closing plan assets 5,732 5,154 The amount that each major class of pension plan assets constitutes of the fair value of the total plan assets was as follows-. 2024 2023 Equity instruments Debt instruments (bonds) Property Cash 71 15 71 14 100 100 CROYDON VOLUNTARY ACTION NOTES TO THE FINANCIAL STATEMENTS {continued) FOR THE YEAR ENDED 31 MARCH 2024 The principal actuarial assumptions used were as follows.. 2024 2022 Discount rale Expected rates of salary increases Expected rates of pension increases 2.95% The mortality assumptions used for longevity (in years) on retirement at age 65 are.. Males Females Current pensioners 22.0 years 23.gyears Future pensioners 22.7 years 25.4years Sensitivity analysis Change in assumptions at 31 March 2024: Approximate '/0 increase to Defined Benefit Obligation Approximate monetary amount £000 0.1 % decrease in Real Discount Rate 1 year increase in member life es ectanc 0.10/0 increase in the Sala Increase rate 0.1 % increase in the Pension Increase Rate 86 187 O°/0 84 cpi)