2025-03-31-accounts

Company registration number 3271298 (England and Wales)

Charity registration number 1060157 (England and Wales)

CROYDON VOLUNTARY ACTION

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

CROYDON VOLUNTARY ACTION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	Mr T G Roberts
	Mr K Hemani
	Pastor M M Mccauley
	Ms G Mirza
	Mr M P Mulvey
	Ms C Parnell
	Mr F Yusoof	(Appointed 6 September
		2024)
Secretary	Mr S M Phaure
Senior management	Mr S M Phaure	Chief Executive Officer
Country of incorporation	United Kingdom	3271298
	(England and Wales)
Charity registration	England and Wales	1060157
Registered office	82 London Road
	Croydon
	Surrey
	CR0 2TB
Auditor	Haines Watts Swindon Limited
	Old Station House
	Station Approach
	Swindon
	Wiltshire
	SN1 3DU

CROYDON VOLUNTARY ACTION

CONTENTS

	Page
Trustees' report	1 - 4
Independent auditor's report	5 - 7
Statement of financial activities	8 - 9
Statement of financial position	10
Statement of cash flows	11
Notes to the financial statements	12 - 24

CROYDON VOLUNTARY ACTION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

In 2024/25 CVA’s Trustees took a pivotal decision to begin a merger process with the Reedham Children’s Trust. While developing our shared vision with Reedham, we continued to deliver on strategic aims that include rolling out a devolution programme to reboot local democracy; championing a community-led delivery-model prioritising prevention over treatment; and campaigning for investment in Croydon’s voluntary, community, faith and social enterprise sector (VCFSE) – via local commissioning, corporate social responsibility and external fundraising.

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 charitable company's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".

Objectives and activities

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 2025. As always, CVA’s trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit in reviewing the organisation’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 inclusive citizenship to grassroots community action and specialist VCFSE service-delivery. The Board appoints and supports a Chief Executive to manage the operations and ensure, with the staff team, that CVA delivers on its mission.

Strategies for achieving aims and objectives

Going into the merger with Reedham, CVA is retaining a focus on its strategic aims to:

1. Strengthen the voice of Croydon’s Civil Society

• Bringing local communities together in shaping local policy and decision-making

2. Expand the role of Croydon’s Civil Society

• Providing high-quality infrastructure support on organisational and workforce development, project delivery and impact measurement

3. Maximise investment in Croydon’s Civil Society

• Leveraging funding into Croydon’s VCFSE

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake.

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CROYDON VOLUNTARY ACTION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

We delivered on these strategic aims in 2024/25 by:

• Championing collaboration through the SW London VCFSE Alliance, Croydon's six Local Community Partnerships and themed networks including the Croydon Youth Consortium (CYC), Later Life Network, Croydon Mental Health Alliance and Food Poverty Network

• Hosting Croydon's CEO Group, bringing our partners together behind the Croydon VCFSE Investment Plan with its focus on Council and NHS commissioning, Social Value, community assets & external fundraising

• Managing four community centres enabling 461 VCFSE groups to deliver sport, education, language and counselling activities

• Co-producing the Community Hub model, establishing a network of hubs to enabling greater connectivity and joined-up support closer to home

• Enabling volunteering across Croydon with an estimated value of £1.1 billion (Monetary Value of Trustees Report

Works4u)

• Raising £1,365,500 in funds for our local VCFSE delivery-partners

• Co-developing a supportive commissioning model devolving funding into localities bringing the largest and smallest charities into impactful partnerships

• Supporting Reedham to invest £450,000 through the Youth Innovation Fund in projects supporting vulnerable children and young people, and monitoring their impact

Financial review

CVA, in its role as the infrastructure body supporting Croydon’s local VCFSE, no longer receives core funding and, although our total income was up on last year - from £1,565,269 in 2023/24 to £1,620,374 this year – we recorded a loss for the year of £63,347. CVA has the great good fortune to have an Honorary Treasurer who, supported by our colleague 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 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 lives. Our major funders for 2024-25 alongside Croydon Council, the Mayor of London, Croydon NHS and the One Croydon Alliance were Natwest Bank, Toyota, HMRC, Skipton Building Society, Fleet, London Community Fund, Unibail-Rodamco-Westfield and the London Marathon Trust.

Our unrestricted (free) reserves remain stable at £575,472 and well within the desired level (25% of annual turnover). The designated reserves of £300,000 have been earmarked for community assets, combined maintenance and business continuity commitments.

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 positioned 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 is 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 2024/25 these remained the pressure on our core management services and the future of our Council-owned centre. Going into the collaboration with Reedham our high-level risk register is aligned with the due diligence being carried out on governance, financial management, assets, employment and pensions.

Plans for future periods

The strategic framework being assembled by CVA and Reedham invokes the need for leadership, coordination and investment:

• Leadership at every level of Civil Society – with young people given a real stake in shaping Croydon’s future

• Coordination of effort across Civil Society – supporting our partners to innovate local delivery-models that meet the highest standards

• Investment in our local communities and in partnership projects supporting the most vulnerable children and young people in Croydon

Our ambition between now and September 2026 is to help build a borough-wide recovery programme that can only be delivered if we take partnership-working in Croydon to another level. Our goal over the next 12 months is to consult with all our community networks and all our strategic partners - Croydon Council, Croydon NHS, Croydon Police, Croydon College, the Unibail-Rodamco-Westfield Group, the London Community Foundation, SME Local CIC and others - bringing local communities and young people with us in creating the new brand.

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CROYDON VOLUNTARY ACTION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

The priorities CVA and Reedham expect to put resource into include:

National Youth Strategy

• Taking the opportunity to support the Croydon model of youth provision we’ve developed with our CYC partners, and thereby to bring youth services to as many young people as we can.

Youth & Community hubs

• We are partnering with the Council to create a new Youth & Community Hub in South Norwood Lake Park. The ambition is to develop a network of Youth & Community Hubs in Croydon.

Mental Health of Young People

• Supporting the Croydon Mental Health Partnership (MIND in Croydon, Croydon Drop-In, Off The Record, the Palace for Life Foundation, BE Inspired and Reaching Higher) to innovate a ‘rapid, relational response’ service.

Inclusive Citizenship

• Launching the Croydon Civil Society Alliance and adopting the Civil Society Covenant through which Government is proposing a new agreement to improve and reset the relationship between civil society and government.

Volunteering

• Supporting our strategic partners to involve volunteers effectively in their work and partnering with Croydon College to boost youth volunteering opportunities.

Digital Platform

• Creating an algorithm-driven and future-facing brand, with a fluency in digital platforms, that modernises and improves access to our shared information on community and youth.

Leveraging Funds

• Combining the Reedham investment capacity with the CVA fundraising capacity, enabling us to work together more strategically in leveraging the maximum impact for local families and young people.

Capacity Building

• Supporting VCFSE partners hard-pressed on budgeting for training, IT systems and meeting quality standards.

Structure, governance and management

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 Association of the company.

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:

of signature of the financial statements	were:
Ms S Masour	(Resigned 31 March 2025)
Mr T G Roberts
Ms H Smith	(Resigned 31 March 2025)
Mr K Hemani
Mr A Kumar	(Resigned 31 March 2025)
Pastor M M Mccauley
Ms G Mirza
Mr M P Mulvey
Ms C Parnell
Mr F Yusoof	(Appointed 6 September 2024)

Recruitment and appointment of trustees

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 was completed with each Trustee’s length of service capped at two fixed terms - 6 years in total. Two trustees were re-appointed through this process in 2024/25. 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.

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CROYDON VOLUNTARY ACTION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Statement of trustees' responsibilities

The trustees, who are also the directors of Croydon Voluntary Action for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with 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, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

• select suitable 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; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

In accordance with the company's articles, a resolution proposing that Haines Watts Swindon Limited be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

..............................

Mr K Hemani

Trustee

Date: ....12[th] December 2025.........................................

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CROYDON VOLUNTARY ACTION

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 2025 which comprise the statement of financial activities, the statement of financial position, the statement of cash flows 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 Republic 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 company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• • have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with 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 concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern 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 charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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 course of 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 performed, 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.

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CROYDON VOLUNTARY ACTION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF CROYDON VOLUNTARY ACTION

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

• the information given in the trustees' report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and

• the directors' report included within the trustees' 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 charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the trustees' report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charitable company for the purpose 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 internal 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 company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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CROYDON VOLUNTARY ACTION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF CROYDON VOLUNTARY ACTION

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 section 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 enquiries 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 internal controls established to mitigate risks related to fraud or noncompliance with laws and regulations;

• assessing the design effectiveness of the controls in place to prevent and detect fraud;

• assessing the risk of management override including identifying and testing journal 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 internal controls.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Martin Gurney FCA (Senior Statutory Auditor)

For and on behalf of Haines Watts Swindon Limited, Statutory Auditor Chartered Accountants Old Station House Station Approach Swindon Wiltshire SN1 3DU Date: .........................

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CROYDON VOLUNTARY ACTION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted Unrestricted Restricted funds funds funds general Fixed asset fund 2025 2025 2025 Notes £ £ £ Income from: Charitable activities 2 530,946 - 1,073,145 Investments 3 16,283 - - Total income 547,229 - 1,073,145 Expenditure on: Charitable activities 4 615,631 36,193 1,029,804 Other expenditure 8 - 2,093 - Total expenditure 615,631 38,286 1,029,804 Net income/(expenditure) (68,402) (38,286) 43,341	Total Unrestricted Unrestricted Restricted funds funds funds general Fixed asset fund 2025 2024 2024 2024 £ £ £ £ 1,604,091 630,385 - 921,147 16,283 13,737 - - 1,620,374 644,122 - 921,147 1,681,628 654,447 38,610 827,313 2,093 - - - 1,683,721 654,447 38,610 827,313 (63,347) (10,325) (38,610) 93,834	Total 2024 £ 1,551,532 13,737 1,565,269 1,520,370 - 1,520,370 44,899

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CROYDON VOLUNTARY ACTION

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted Unrestricted Restricted funds funds funds general Fixed asset fund 2025 2025 2025 Notes £ £ £ Net income/(expenditure) (68,402) (38,286) 43,341 Transfers between funds 18,585 - (18,585) Other recognised gains and losses: Actuarial gains on defined benefit pension schemes 918,000 - - Net movement in funds 5 868,183 (38,286) 24,756 Reconciliation of funds: Fund balances at 1 April 2024 As originally reported 1,988,534 1,235,291 213,563 Prior year adjustment 13,453 - - As restated 2,001,987 1,235,291 213,563 Fund balances at 31 March 2025 2,870,170 1,197,005 238,319	Total Unrestricted Unrestricted Restricted funds funds funds general Fixed asset fund 2025 2024 2024 2024 £ £ £ £ (63,347) (10,325) (38,610) 93,834 - 530 - (530) 918,000 578,000 - - 854,653 568,205 (38,610) 93,304 3,437,388 1,420,329 1,273,901 120,259 13,453 - - - 3,450,841 1,420,329 1,273,901 120,259 4,305,494 1,988,534 1,235,291 213,563	Total 2024 £ 44,899 - 578,000
		622,899 2,814,489 - 2,814,489
		3,437,388

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

Included in the above deficit is £50,000 staff costs relating to the movement in the Local Government Pension Scheme liability as required by FRS 102. Excluding this cost the loss is £12,347.

The notes on pages 12 to 24 form part of these financial statements.

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CROYDON VOLUNTARY ACTION

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025	2025	2024	2024
	Notes	£	£	£	£
Fixed assets
Tangible assets	10		1,210,729		1,235,562
Current assets
Debtors	11	160,829		365,639
Cash at bank and in hand		1,397,809		975,730
		1,558,638		1,341,369
Creditors: amounts falling due within	12
one year		(400,873)		(208,543)
Net current assets			1,157,765		1,132,826
Total assets less current liabilities			2,368,494		2,368,388
Net assets excluding pension surplus			2,368,494		2,368,388
Defined benefit pension surplus	13		1,937,000		1,069,000
The funds of the charitable company
Restricted income funds	14		238,319		213,563
Designated funds	16		300,000		300,000
Unrestricted funds - general	16		633,170		619,534
Unrestricted funds - Fixed asset fund	15		1,197,005		1,235,291
Pension reserve			1,937,000		1,069,000
			4,305,494		3,437,388

The notes on pages 12 to 24 form part of these financial statements.

The financial statements were approved by the trustees on ....12[th] December 2025.....................

.............................. Mr K Hemani Trustee

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CROYDON VOLUNTARY ACTION

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

2025 Notes £ Cash flows from operating activities Cash generated from/(absorbed by) operations 21 Investing activities Purchase of tangible fixed assets - Investment income received 16,283 Net cash generated from investing activities Net cash generated from financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year The notes on pages 12 to 24 form part of these financial statements.	£ 405,796 16,283 - 422,079 975,730 1,397,809	2024 £ (271) 13,737	£ (67,709) 13,466 - (54,243) 1,029,973 975,730

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CROYDON VOLUNTARY ACTION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

Croydon Voluntary Action is a private company limited by guarantee incorporated in England and Wales. The registered office is 82 London Road, Croydon, Surrey, CR0 2TB.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charitable company's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charitable company is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charitable company. 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.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company 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.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds are unrestricted funds earmarked by the trustees for a particular future project or commitment.

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.

1.4 Income

All incoming resources are recognised when the charitable company is legally entitled to it, the amounts can be measured reliably, and it is probable that the economic benefits associated with the transaction will be flow to the charity.

Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probably and its amount can be measured reliably.

Legacy income is recognised when receipt is probably and entitlement is established.

Income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

Income from contracts for the supply of services is recognised with the delivery of the contracted service, This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

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CROYDON VOLUNTARY ACTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

1.5 Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.

Expenditure on charitable activities includes all costs incurred by the charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

1.6 Tangible fixed assets

Tangible fixed assets are recorded at cost. Any item under £2,500 is expensed to the Statement of Financial Activity during the year in which it is purchased.

Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write down the cost or valuation, less estimated residual value, of all tangible fixed assets evenly over their expected useful economic lives as follows:

Freehold property and leases over 50 years 50 years Leasehold land and buildings and Over the lease term improvements (less than 50 years) Equipment Between 3 and 10 years

1.7 Financial instruments

The charitable company 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.

Basic financial assets

Trade and other debtors are recognised at the settlement amount due after any trade discounts.

Prepayments are valued at the amount prepaid net of any discounts.

Basic financial liabilities

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount to settle the obligation can be measured or estimated reliably.

1.8 Taxation

Croydon Voluntary Action is a registered charity, number 1060157, and is exempt from income and capital gains tax under the provisions of Section 505 of the Income and Corporation Taxes Act 1988 and Section 145(1) of the Capital Gains Tax Act 1979.

1.9 Investments

Investments held as fixed assets are stated at their fair value. Any gain/(loss) for the period is taken to the Statement of Financial Activity as unrealised gains/(losses).

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CROYDON VOLUNTARY ACTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

1.10 Leases

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

1.11 Pensions

Employees of the charity are eligible for membership of a multi-employer defined benefit scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost represents contributions payable by the charity for the year. Further details regarding the scheme are disclosed in the notes to these financial statements.

2 Income from charitable activities

Unrestricted Restricted funds funds 2025 2025 £ £ Charitable activities Performance related grants 175,623 1,023,325 Charitable rental income 345,646 (280) Other income 10,037 50,100 530,946 1,073,145	Total Unrestricted Restricted funds funds 2025 2024 2024 £ £ £ 1,198,588 206,216 921,147 345,366 424,169 - 60,137 - - 1,604,091 630,385 921,147	Total 2024 £ 1,127,363 424,169 -
		1,551,532

3 Income from investments

	Unrestricted	Unrestricted
	funds	funds
	2025	2024
	£	£
Interest receivable	16,283	13,737

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CROYDON VOLUNTARY ACTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

4 Expenditure on charitable activities

Direct costs Staff costs Depreciation and impairment Partner delivery/project costs Funding distributed Other costs Analysis by fund Unrestricted funds - general Unrestricted funds - Fixed asset fund Restricted funds 5 Net movement in funds The net movement in funds is stated after charging/(crediting): Fees payable for the audit of the charity's financial statements Depreciation of owned tangible fixed assets Loss on disposal of tangible fixed assets	2025 £ 669,325 36,193 148,632 221,855 605,623 1,681,628 615,631 36,193 1,029,804 1,681,628 2025 £ 11,089 36,193 2,093	2024 £ 704,240 38,610 144,987 107,418 525,115
		1,520,370
		654,447 38,610 827,313
		1,520,370
		2024 £ 5,400 38,610 -

6 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charitable company during the year.

One trustee received expenditure during the year of £166 for printing and membership fees for the Honorary Treasurer's Forum (2024: one trustee received £109 for printing and membership fees for the Honorary Treasurer's Forum).

7 Employees

The average monthly number of employees during the year was:

Project staff Administrative staff Total	2025 Number 9 2 11	2024 Number 12 2
		14

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CROYDON VOLUNTARY ACTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

7 Employees

Employment costs Wages and salaries Social security costs Other pension costs The number of employees whose annual remuneration was more than £60,000 is as follows: £70,000 to £79,999 per annum	2025 £ 466,771 45,663 156,891 669,325 2025 Number 1	2024 £ 460,706 45,873 197,661 704,240 2024 Number 1

Staff costs include an additional £50,000 (2024: £88,000) relating to the movement in the Local Government Pension Scheme liability as required by FRS 102. This charge is a provision movement and does not represent actual contributions paid.

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

	2025	2024
	£	£
Aggregate compensation	363,421	363,421

Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity.

8 Other expenditure

	Unrestricted	Unrestricted
	funds	funds
	Fixed asset	Fixed asset
	fund	fund
	2025	2024
	£	£
Net loss on disposal of tangible fixed assets	2,093	-

9 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

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CROYDON VOLUNTARY ACTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

10 Tangible fixed assets Freehold property and leases over 50 years Leasehold land and buildings and improvements (less than 50 years) £ £ Cost At 1 April 2024 268,148 1,630,514 Disposals - - At 31 March 2025 268,148 1,630,514 Depreciation and impairment At 1 April 2024 106,241 550,816 Depreciation charged in the year 3,852 31,768 Eliminated in respect of disposals - - At 31 March 2025 110,093 582,584 Carrying amount At 31 March 2025 158,055 1,047,930 At 31 March 2024 148,454 1,079,698 11 Debtors Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 12 Creditors: amounts falling due within one year Notes Other taxation and social security Deferred income Trade creditors Other creditors Accruals		Equipment £ 263,239 (5,000) 258,239 255,829 573 (2,907) 253,495 4,744 7,410 2025 £ 159,821 - 1,008 160,829 2025 £ 4,567 259,452 84,218 20,668 31,968 400,873	Total £ 2,161,901 (5,000) 2,156,901 912,886 36,193 (2,907) 946,172 1,210,729 1,235,562 2024 £ (5,200) 359,421 11,418 365,639 2024 £ 2,781 67,742 - 138,020 - 208,543

All deferred income is released in the following year.

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CROYDON VOLUNTARY ACTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

13 Retirement benefit schemes

Retirement benefit schemes
	2025	2024
Defined contribution schemes	£	£
Charge to profit or loss in respect of defined contribution schemes	156,891	109,661

The charitable company participates in the London Borough of Croydon Pension Fund, which is part of the Local Government Pension Scheme (LGPS). The LGPS is a funded defined-benefit scheme, with the assets held separately from those of the charitable company in separate trustee-administered fund. The agreed contribution rates for future years are 22.9% for employers.

Defined benefit schemes

Key assumptions

Defined benefit schemes Key assumptions
	2025	2024
	%	%
Discount rate	5.8	4.85
Expected rate of salary increases	2.75	2.75
Expected rates of pension increases	2.75	2.75

Mortality assumptions

The mortality assumptions used for longevity (in years) on retirement at age 65 are:

Mortality assumptions The mortality assumptions used for longevity (in years) on retirement	at age 65 are:
	2025	2024
	Years	Years
Retiring today
- Males	22	22
- Females	23.9	23.9
Retiring in 20 years
- Males	22.6	22.7
- Females	25.4	25.4
Amounts recognised in other comprehensive income	2025	2024
Costs/(income):	£	£
Actual return on scheme assets	(868,000)	(578,000)
Less: calculated interest element	-	-
Return on scheme assets excluding interest income	(868,000)	(578,000)

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CROYDON VOLUNTARY ACTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

13 Retirement benefit schemes

The amounts included in the statement of financial position arising from the
charitable company's obligations in respect of defined benefit plans are as
follows:
	2025	2024
Liabilities/(assets):	£	£
Fair value of plan assets	(1,937,000)	(1,069,000)
Surplus in scheme	(1,937,000)	(1,069,000)
		2025
Movements in the fair value of plan assets		£
Fair value of assets at 1 April 2024		1,069,000
Return on plan assets (excluding amounts included in net interest)		868,000
		2025
Movement in reimbursement rights recognised as an asset		£
At 1 April 2024		5,732,000
Actual return on plan assets (including interest income)		316,000
Contributions by employer		98,000
Contribution by scheme participants		31,000
Benefits paid		(143,000)
At 31 March 2025		6,034,000
	2025	2024
Fair value of plan assets	£	£
Equity instruments	1,259,050	758,990
Debt instruments	387,400	160,350
Property	213,070	117,590
Cash	77,480	32,070
	1,937,000	1,069,000

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CROYDON VOLUNTARY ACTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

14 Restricted funds

ABCD MECC ABCD MECC Grants Best Start Best Start Grants Community Facilitation Capacity Building Core 20 Covid Awareness Croydon Community Lottery Food Roots Gifting Grant UK Grassroots Funding HCS Community Building HCS Training Health Communities Services LCP Support Maudsley Charity MyEnds MyEnds Partners NHS VCSE NHS VCSE Partners One Croydon Training RM Partners Rep CVA RM Partners Rep Grants SWL Winter Engagement SWL Winter Engagement Grants Thriving Communities Upshot Upshot Grants Venues and Grants Previous year:	At 1 April 2024 Incoming resources Resources expended £ £ £ 3,860 34,791 (36,168) - 34,694 (22,925) 11,360 24,600 (31,779) - - - 10,809 43,178 (51,248) 3,672 - (3,600) 20,425 38,466 (53,907) - 3,691 (3,691) 2,012 1,830 - 10,061 30,181 (35,792) - 35,600 (33,444) 29,198 110,541 (65,501) - - - - - - - - - - 40,549 (40,548) - 15,000 (13,079) 3,666 73,600 (73,505) 7,000 310,100 (263,600) 13,229 47,854 (75,412) 69,322 64,948 (99,980) 3,775 23,893 (20,063) - 1,982 (607) - 16,177 (1,100) 2,387 18,115 (10,996) 22,533 66,225 (72,752) - 10,057 (7,109) - 3,904 (470) 254 23,169 (12,528) - - - 213,563 1,073,145 (1,029,804) At 1 April 2023 Incoming resources Resources expended £ £ £ 120,259 921,147 (827,313)	Transfers At 31 March 2025 £ £ (2,483) - (11,769) - (4,181) - 4,181 4,181 2,947 5,686 (72) - (4,984) - - - (3,842) - - 4,450 (2,156) - - 74,238 3,118 3,118 7,605 7,605 18,751 18,751 - 1 (1,921) - (3,666) 95 (7,000) 46,500 34,290 19,961 (34,290) - (7,605) - - 1,375 - 15,077 - 9,506 - 16,006 (2,948) - (3,434) - (10,895) - 11,769 11,769 (18,585) 238,319 Transfers At 31 March 2024 £ £ (530) 213,563

Restricted funds at the year end (see final column above - balance at 31 March 2025) represent funds received but yet to be spent on specific projects. They are committed to these specific projects so do not represent a surplus that is available for general use by the charity.

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CROYDON VOLUNTARY ACTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

14 Restricted funds

• ABCD MECC: this CCG funded project delivers a community development service across the southeast GP network area.

• Best Start: this early intervention project is creating asset and network mapping resources to support the delivery of ABCD in New Addington.

• Covid Awareness- a project funded by the South West London Integrated Care System (NHS) to increase awareness of available vaccinations and how to keep healthy amongst Croydon communities that engage less with mainstream services. Delivered through street champions.

• Grassroots Funding : fund administered in partnership with London Community Foundation awarding small grants to community organisations that can attract match funding from local investors.

• MyEnds: a GLA funded anti-knife crime project supporting youth providers and parent organisations to tackle youth violence.

• NHS VCSE: a project funded by the South West London Integrated Care System (NHS) to lead on a voluntary, community and social enterprise Alliance across the six boroughs of Merton, Croydon, Wandsworth, Kingston, Richmond and Sutton to raise awareness of the VCSE sector in the NHS and better integrated it in both governance and delivery. In collaboration with the other five voluntary sector infrastructure organisations.

• Thriving Communities: the delivery was part of a national support programme provided by the National Academy for Social Prescribing (NASP), which aims to bring all types of voluntary, community, faith and social enterprise groups in England to work alongside social prescribing link workers. This funding came through London Plus.

15 Unrestricted funds - Fixed asset fund

Fixed Asset Fund Previous year: Fixed Asset Fund	At 1 April 2024 Resources expended At 31 March 2025 £ £ £ 1,235,291 (38,286) 1,197,005 At 1 April 2023 Resources expended At 31 March 2024 £ £ £ 1,273,901 (38,610) 1,235,291

The fixed asset fund represents the properties, equipment and furniture and fittings held by the charity. The depreciation charge for the year has been charged to this fund.

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CROYDON VOLUNTARY ACTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

16 Unrestricted funds

Staff contingency fund Business continuity fund Combined maintenance fund Community assets fund Supporting charitable activities General funds Pension fund Previous year: Staff contingency fund Business continuity fund Combined maintenance fund Community assets fund Supporting charitable activities General funds Pension fund	At 1 April 2024 Incoming resources Resources expended £ £ £ 80,000 - - 30,000 - - 80,000 - - 50,000 - - 60,000 - - 619,534 547,229 (565,631) 919,534 547,229 (565,631) 1,069,000 - (50,000) 1,988,534 547,229 (615,631) At 1 April 2023 Incoming resources Resources expended £ £ £ 80,000 - - 30,000 - - 80,000 - - 50,000 - - - - - 601,329 644,122 (566,447) 841,329 644,122 (566,447) 579,000 - (88,000) 1,420,329 644,122 (654,447)	Transfers Gains and losses / Adjustments At 31 March 2025 £ £ £ - - 80,000 - - 30,000 - - 80,000 - - 50,000 - - 60,000 18,585 13,453 633,170 18,585 13,453 933,170 - 918,000 1,937,000 18,585 931,453 2,870,170 Transfers Gains and losses At 31 March 2024 £ £ £ - - 80,000 - - 30,000 - - 80,000 - - 50,000 60,000 - 60,000 (59,470) - 619,534 530 - 919,534 - 578,000 1,069,000 530 578,000 1,988,534	Transfers Gains and losses / Adjustments At 31 March 2025 £ £ £ - - 80,000 - - 30,000 - - 80,000 - - 50,000 - - 60,000 18,585 13,453 633,170 18,585 13,453 933,170 - 918,000 1,937,000 18,585 931,453 2,870,170 Transfers Gains and losses At 31 March 2024 £ £ £ - - 80,000 - - 30,000 - - 80,000 - - 50,000 60,000 - 60,000 (59,470) - 619,534 530 - 919,534 - 578,000 1,069,000 530 578,000 1,988,534
			919,534 1,069,000
			1,988,534

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CROYDON VOLUNTARY ACTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

16 Unrestricted funds

The level of designated funds has been reviewed at the year end and as as follows:

• The Staff Contingency Fund is to cover potential restructuring costs.

• The Business Continuity Fund is to cover replacement IT equipment and other unexpected running costs of the charity.

• The Combined Maintenance Fund is to cover any significant unexpected property maintenance costs

• • The Community Assets Fund is to support the community in the transfer of Waterside from Croydon Council to Croydon Voluntary Action.

• The Charitable Activities Fund is to cover specific projects the trustees agree to support.

17 Analysis of net assets between funds

Unrestricted Unrestricted Restricted funds funds funds general Fixed asset fund 2025 2025 2025 £ £ £ At 31 March 2025: Tangible assets 14,476 1,196,253 - Current assets/(liabilities) 1,001,092 - 156,673 Provisions and pensions 1,937,000 - - 2,952,568 1,196,253 156,673 Unrestricted Unrestricted Restricted funds funds funds general Fixed asset fund 2024 2024 2024 £ £ £ At 31 March 2024: Tangible assets 271 1,235,291 - Current assets/(liabilities) 919,263 - 213,563 Provisions and pensions 1,069,000 - - 1,988,534 1,235,291 213,563	Total 2025 £ 1,210,729 1,157,765 1,937,000
	4,305,494
	Total 2024 £ 1,235,562 1,132,826 1,069,000
	3,437,388

The fixed asset fund is represented by properties held by the charity and other tangible fixed assets which are not readily accessible and available as funds to the charity.

18 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

19 Share capital

The company is limited by guarantee and has no share capital. The liability of its members is limited to £1.

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CROYDON VOLUNTARY ACTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

20 Leases with special terms and their implications

Shop unit 32 in the Centrale Croydon centre is leased from Croydon Limited Partnership. The lease is for three years outside the security of tenure provisions (sections 24 to 28) of the Landlord & Tenant Act 1954, Part II. The current lease agreement commenced in 2024.

Rent payable on this lease is £1 per annum, inclusive of service charge and exclusive of rates, insurance and Value Added Tax. This is payable quarterly in advance.

Previously, this property was rented from 13 November 2021 for a peppercorn per annum, if demanded. This lease was valid until 12 November 2028, but has been replaced by the new agreement noted above.

This property is sub-let to various other charities.

From 30 July 2025, shop unit LSU6A will also be leased from Croydon Limited Partnership. The lease is for three years outside the security of tenure provisions (sections 24 to 28) of the Landlord & Tenant Act 1954, Part II.

Rent payable on this lease is a peppercorn per annum, inclusive of service charge and insurance, and exclusive of rates and Value Added Tax.

21 Cash generated from/(absorbed by) operations (Deficit)/surplus for the year Adjustments for: Investment income recognised in statement of financial activities Loss on disposal of tangible fixed assets Depreciation and impairment of tangible fixed assets Difference between pension charge and cash contributions Movements in working capital: Decrease/(increase) in debtors (Decrease) in creditors Increase/(decrease) in deferred income Cash generated from/(absorbed by) operations

2025 2024 £ £ (63,347) 44,899 (16,283) (13,737) 2,093 - 36,193 38,610 50,000 88,000 204,810 (154,408) 620 (33,498) 191,710 (37,575) 405,796 (67,709)

22 Analysis of changes in net funds

The charitable company had no material debt during the year.

• 24 -