**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.........................................
- 4 -
## **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.
- 5 -
## **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.
- 6 -
## **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: .........................
- 7 -
## **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|
|---|---|---|
- 8 -
## **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**
- 10 -
## **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|
|---|---|---|---|
- 11 -
**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.
- 12 -
**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).
- 13 -
## **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|
- 14 -
## **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|
- 15 -
## **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.
- 16 -
## **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.
- 17 -
## **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)|
- 18 -
## **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|
- 19 -
## **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.
- 20 -
**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.
- 21 -
## **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|
- 22 -
## **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.
- 23 -
**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 -