## **TRUSTEES ANNUAL REPORT** YEAR ENDING 31[ST] OCTOBER 2024 Crescent Relief (London) 317, Legrams Lane, Bradford, BD7 2HX |ID|PROJECTS AND DETAILS|LOCATION|STATUS| |---|---|---|---| |1|Mumta Vocatonal Insttute:
Technical & Vocatonal
Training for deserving male and
female students.|Mumta Welfare Insttute,
Mirpur, AJK|255 students have completed
diferent courses from 1stNov 2023
to 31stOctober 2024 (Session 11-
Session 14)| |2|Orphans’ educaton aid|District Mirpur and
District Havely|School fees, Transportaton costs,
Textbooks, Exercise books and
Uniforms, etc| |3|Income Generatng / Self-
Reliance|Azad Jammu Kashmir|
22 Sewing Machines and tools
were provided to Successful,
needy students.

1 Rickshaw and 2 carts, and an
inital supply of relevant
material to sell were provided
to needy people.| |4|Diagnostc Laboratory|Mumta Lab, within
Mumta Welfare Insttute,
Mirpur, AJK|This is an ongoing project the Blood Test
Laboratory is in operaton. The tests are
performed free of cost for deserving
patents.| |5|Masjid Khari Gam Neelum
Valley Ajk, Masjid Caroon
Dhara Farward Kahuta Havaily
AJK Masjid Surgan Bakwali
Neelum AJK, Masjid Amal
Neelum,Allah Wali Masjid|District Neelum, Azad
Kashmir
District Haveli AJK|5 Mosques including Remaining
Constructon work of previous Mosques
with community centres completed
with restricted funds.| |6|Ramadan Food Packs|kot Addu District
Muzafargarh, Multan,
Pakitsan. District Mirpur,
District Poonch, Neelum
Valleyand Haveli AJK|Food Packs were distributed to 490
families from 1stNov 2023 to 31stOct
2024| |7|Fitra (Eid Gif) Distributon|Azad Kashmir|We have provided Fitra (Eid Gif) to
100 of the most deserving families in
Kashmir.| |8|Financial Aid to Widows and|Mirpur,Azad Kashmir|Monthlyfnancial aidprovided to| 1 ||Orphans|||widows and orphans regularly.| |---|---|---|---|---| |9|Uniform and Clothes
distributon amongst
underprivileged students.|Azad Jammu Kashmir and
Pakistan||Clothes donated by donors in the UK
are sorted and distributed in poverty-
stricken areas.to poor students who are
in need.| |10|Qurbani Project|Azad Jammu Kashmir and
Pakistan||
23 Catle and 4 Goats Qurbanis
ofered in diferent remote villages,
and meat was distributed to
hundreds of families during three
days of Eid Al-Adha 2024.| |11|Financial Aid|Azad Jammu & Kashmir||
Rikshaw repaired for poor
driver & Wedding Support to a
deserving women. And regular
fnancial Support to Mr. Shabab
Dadyal| |12
13|HUMANITY IN DISTRESS
(HID)||Bangladesh|
Food packs distributon
program for the
underprivileged, widows &
Orphans 2024 and normal
food packs during September
2024.

Water Tankers sent during the
year 2023/2024

distributon of the aid to
Gaza/Palestne| ||ISRA (Feed the Poor)||Gaza Palestne|| ## **VOCATIONAL TRAINING CENTRE** 2 . gliry#rAYt lE￿I￿#Bl$TIllI7lj IEII•IY ammaf t& sions-. 14-15 (_ Vocational Institute, Mirpur ## **ORPHANS EDUCATION AID** ae Financial Aid & Books Donation 4 ## **Income Generating / Self-Reliance Projects** ## Sewing Machines Vendor Cart with Material 5 ## **DIAGNOSTIC LABORATORY** Diagnostic Laboratory, Mumta Welfare Association, Mirpur AJK. 6 ## **MOSQUES AND COMMUNITY CENTERS** Masjid Ali, Haveli AJK Masjid’s Interior View 7 ## **RAMADAN FOOD PACKS** Ramadan Food Packs Haveli, & Abbaspur, AJK 8 IAIDIIAII D PACKAgES THI￿11* 2021 2021 *il RAMADHAN FgOU PACU¥S 2024 pNn Ramadan Food Packs, Neelum Valley & Mirpur, AIK ## **FINANCIAL AID TO WIDOWS & ORPHANS** Fitra Distribution April 2024 Warm Clothes distribution amongst Students. 10 Uniform Distribution amongst the Poor School Students 11 ## **QURBANI 2024** Qurbanies performed in Pakistan and Azad Kashmir 12 ## **WATER SUPPLY SCHEMES** Abbaspur AJK Gulshan e Amina, Koringi 5, Karachi Lahndi, Distt. Maleer, Karachi 13 ## **HUMANITY IN DISTRESS (HID) BANGLADESH** ## **Food packs were distributed among the needy in Rangpur Bangladesh** 14 ## **ISRA (Feed the Poor)** Water Tankers sent during the year 2023/2024 and distributed as seen below Desperate people collecting clean water to drink 15 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B Covnpany Rcgistralion numbcT-. 04084325 Charity Registration number.. 1087724 CRESCENT RELIEF (LONDON) (A Company Limited by Guarantee) Annual Report and Financial Sthiements for the Year Ended 31 October 2024 Docusign Envelope ID.. C9DA6881-EE3B41 E149F&0248CD495D6B CRESCENT RELIEF (LONDON) (A Company Limited by Guarantee) Contents Page Reference and Administrative Delails Strategic Report Trustee's Report Statement of Trustee's Responsibilities Independent Examiner's Report Statement of Financial A¢tii'ities Balance Sheet Notes to the Financial Staien]ent 8t0 13 Docusign Envelope ID.. C9DA6881-EE3B41 E149F&0248CD495D6B CRESCENT RELIEF (LONDON) Reference and Administrative Details Trustee Mohammed Rashid Principal OtTice 317 Legrams Lane Bradford BD7 2HX Registered OtTice 317 Legrams Lane Bradford BD7 2HX Company Registration Number 04084325 Charity Registration Number 1087724 Independent Examiner TaDweer Hussain Update Accountants Limited (Certified Public Accountants) 24 Station Road Manor Park London E12 5BT Page I Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B CRESCENT RELIEF (LONDON) Strategic Report for the Year Ended 31 October 2024 Thc trustcc, a director foi thc purposes of company law. prcscnts his strategic Icport for thc year endcd 31 Octobcr 2024, in compliance with S414C of the Companies Act 20(16. The strategic report was approved by the member of the charity on 24 Febnwry 2025 and signed on its behalf by: 4B7ABFIBDB834S7... Mohammed Rashid Trustcc Page 2 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B CRESCENT RELIEF (LONDON) Trustee's Report The member, a director for the purpose of company law, presents the annual report together with tbe financial statement of the charitable company for the year ended 31 October 2024. Objectives and activities Public benefits Activities undertaken to thrther public benefit The member confirnls that he has complied with Ihe requirements of section 4 of the Charities Act 201 I to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Structure. goi'ernance and n￿nagement Finaneial instruments Objectives ondpolieies The chariry's activities expose to a number of fmancial risks including credit risk, cash flow risk and liquidily risk. The us¢ of financial derivatives is governed by the charitys policies approved by the board of trustee, which provide written principles of the use or rinancial derivatives lo manage these risks. The charity does not use derivative financial instruments for speculative purposes Cashflow risk The charity's activities expose il primarily to tbe fmancial risks of changes in foreign currency exchange rates and intcrcst ratcs. Thc charity usc5 foTcign cxchangc forward contracts and intcrcsl ratc Swap contracts to hcdgc thcsc exposures. Intercst bearing asscts and liabilities arc held at fixcd Tatc to cnsurc certainty of cash flows. Credit risk The charity's principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity's credit risk is primarily attributable to ils trade receivables. The amounts presented in the balance sheet are net allowances for doubtful receivables. An all0￿.ance for impairment is make ￿here there is an identified loss event which, based on previous experience. is evidence of a deduction in tbe recovetability of the cash flows. The CTedil risk on liquid funds and derivative financial instrument5 is limited because the counterparties are bank with high credit-ratings assigned by internalional credii-raling agencies. The charity has no significant concentration of credit risk. NTrith exposure spread oveT a large number of eounterparties and customers. Liquidity risk In urdcr to maintain liquidity to cnsurc that sutScient funds arc variable foT ongoing operations and future developmenls. the charity uses a mixture of long-terni and short-lerni debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial stalemenis. The annual report was approved by the member of the chariry on 24 February 2025 and signed by on its behalf by.. 4B7ABFIBD883457.. Mohammed Rashid Trustee Page 3 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B CRESCENT RELIEF (LONDON) Statements of Trustee's Responsibilities The trustee (who is also the director of Cresceni Relief (London) for ihe purposes of company law) is Tesponsible for preparing the truslee'5 report and the financial statenients in accordance with the United Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounling Practice) and applicable law and regulations. Company law requires the member lo prepare financial statements for each financial year. Under company law the membei must not approve the financial statements unless he is satisfied thai they give a true and laii view of the state of affairs of the charitable company and of its incoming resource5 and application of resources, including its income and expenditure, for that period. In preparing these fmancial statements, the member is required to: select suitable accounting policies and apply them consistently. * observe the methods and principles in the Chariiies SORP. make judgements and estimates thal are reasonable and prudent- state whether applicable UK Accounling Standards have followed, subjeci to any material departures disclosed and explained in the financial statements. aT]d prepdrc the fI￿claI statcmcnts on the going conceTll basis utdess it Is inappTopriate to Presume that the charitable company ￿,111 continue in business. The member is responsible for keeping adequate accounting records thal are sufficient to show and explain the charitable company's transactions and dlsclose with reasonable accuracy at any time the fllwicial position of the charitable company and enable them to ensure that the financial staternents comply with the Companies Act 2006. He is also responsible for safeguarding the assels of ihe charithble company and hence for thking reasonable sw)s for the prevention and detection of fraud and other irregularities. Approved by the member of the charity on 24 February 2025 and signed on its behalf by: 4B7ABFIBD683457.. Mohammed Rashid Trustee Page 4 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B CRESCENT RELIEF (LONDON) Independent Examiner's Report I report on the accounts of the charity for the year ended 31 October 2024 which are set on pages 6 to 13. Respeetive responsibilities of trustee and examiner The trustee {Th'ho is also the director of the company for the pury)oses of company law) is responsible for the preparaiion of the accounts. The Iruslee considers thal an audit is nol required for this year under secrion 144(2) of the c.harities Act 2011 (the 201 l Act) and that an independent examiner is needed. Having satisfied myself thal the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to.. cxamine the aLLuunts under SeLliun 145 of thc 2011 ALI to follow the procedure5 laid in the general direction5 given by the Charity Con]mission under section 145(5)(b} of the 2011 Act. and * to state whether particular matters have come to my attention. Basis of independent examiner's report My examination was cartied out in accordance with genetal Direclions given by the Charity Commission. An examination includes a review of the accounting record.s kept by the charity and a comparison of the accounts presented w'ith those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations froin you as member concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters set out in the statement below. Independent examiner's statement In conncction with my examination, no matter has come to my attention= ( I I which gives me reasonable cause to believe that in any material respect the requirements= to keep accounting records in accordance with section 386 of the Companies Act 2006- and to prepare accounts which accord with the accounting records. comply wilh the accounting requirements of section 396 of tbc Companic5 Act 2006 and with the tncthods and principles of the Statetnent of Recommended Practice.. Accounting and Reporting by Charities havc not bccn mct- or {2) to which, in my opinion, attention should be drawn in order to eDable a proper understanding of the accounts to be reached. D￿￿S￿J￿Bd by.. 90156078CAFD4BD... Tanweer Hussain, B.Com. ACPA (On & For Behalf Of UPDATE ACCOUNTANTS LIMITED) Datc: 24 February 2025 Page 5 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B CRESCENT RELIEF (LONDON) Statement of Financial Activitie5 for the Year Ended 31 October 2024 (Including Income and Expenditure Account and Statement of Total Rerogni5ed Gains and Losses) Unrestricted funds Total 2024 Ineome and Endowments from: Donations and legacies Total Income 311,906 311.906 311,906 311.906 Expenditure On: Charitable activities Govcrnancc costs Total Expcnditurc Net income (148.687) {41.007) (189.694 122,212 (148,687) 41,007 (189,694 122,212 Reconciliation of funds Total funds carried forward 12 122,212 122,212 Unrestricted fund5 Total 2023 Income and Endoivmen¢s from: Donations and legacies Totsl Income 169,885 169.885 169.885 169.885 Expenditure On: Charitable activities Governance costs Total Expenditure Net income (92.994) (39,640) (132,634) 37.251 {92:994) {39,640) (132,634) 37,251 Reconciliation of funds Total fimds carried forward 12 (37.251) (37,251) All of the charity's activities derive from continuing operations during the above two periods. Page 6 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B CRESCENT RELIEF (LONDON) (Registration Dumber: 04084325) Balance Sheet as at 31 October2024 2024 2023 Fixed assets Tangiblc assets io 275 Current a5set5 Cash at bank and in hand 277,569 156,047 Creditors: Amount falling due M'ithin one year Net eurrent assets Tr4et assets {1.208 276,361 276,361 2,173 153,874 154,149 Funds of the charity: Unrestrieted income funds Unrestricted fi￿dS OthLr rcserves Total unrestricted funds Total funds 122,212 154.149 276,361 276,361 37,251 116.898 154,149 154,149 13 Thc financial stalemcnts on pagcs 6 to 15 iverc approvcd by thc trustees, and authoriscd on 24 Fcbruary 2025 and signed on their behalf by.. by.. 4B7ABF1BD883457.. Mohammed Rashid Trustee Page 7 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B Crescent Relief (London) Notes to the Financial Statements for the Year Ended 31 October 2024 I Charity status The charity is a charity limited by guarantee and consequenily does not have share capital. Each of the trustee is liablc to contributc an atnount not cxcccding £Nil towards thc asscts of thc charity in thc cvcnt of liquidation. 2 Accounting policies Summary of significant accounting policies and ke!. accounting estimates The principal accounting policies applied in the preparation of these financial stalements are sei oui below. These policies have been consistently applied to all the years presented, unless Other￿uSe stated. Statement of Compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Staternent of Recommended Practice applicable lo charilies preparing their accounts in accordance wilh the Financial Reporting Siandard appliablc in thc UK and Rcpublic of Ircland (FRS 102) (cffcctivc l January 2015) Charitics SORP (FRS 102). the Financial Reporting Standard applicable in ihe UK and Republic of Ireland {FRS 102) and the Companics Act 2006. BYdsi$ of prepydration Crescent Relief (London) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost of iransaciion value unless otherwise stated in the relevant accounting policy notes. Going concern The trustee consider thai there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. Exemption from preparing a cash flow statement The Charity opted to early adopt Bullelin I published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. Income and endojvments All incomc is rccogniscd oncc thc charity has cntitlcmcnt to thc incomc, it is probablc that thc incovnc will bc received and the amount of the incorne receivable can be measured reliably. Donations and legacies Donations are recognised when the charity has been notified in wiling of boih the amount and settlement date. In the event that a donation is subject to conditions that require a level of perforniance by the charity before the charity is entitled to the fLU]ds, the income is deferred and noi recogmsed until eiiher Ihose conditions are thlly met, or the fulfilmcnl of those conditions is wholly wTrthing thc control of thc charity and it is probablc tbat thcsc conditions Mqll be fulfilled in the reporting period. Expenditure All expenditure is recognised once there is a legal or construclii'e obligation to that expenditure, it is probable s¢ttlcmcnt is required and the amount can be measured reliably. All costs arc allocated to thc applicable expcnditure heading thal aggregate similar cosls to ihai category. Where costs cannot be direcily attributed to particular headings they have been allocated on a basis consistent M'ith the use of resources, wth central staff costs allocated on the basis of time spenl, and depreciation charges allocated on the portion of the asset's use. Oiher support costs are allocated bdscd OT] the spread of staff costs. Page 8 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B Crescent Relief (London) Notes to the Financial Statements for the Year Ended 31 October 2024 Raising funds These are costs inc￿ed in attracting voluntary in¢ome. the management of investments and those incurred in trading activities that raise funds. Support eosts Support costs include central functions and have been allocated to activity cost categories on a basis consistent ￿1th the use of resources, for example, allocating property costs by floor areas, or per capita. staff costs by the time spent and other costs by their usage. Governance costs These include the costs attributable to the charitys compliance u'iih conslitutional and statulory requirements, including audit, strategic n]anagetnent aDd t￿￿tee'S MeetI￿gS and reimbursed expenses. Taxation The charity is considered to pass the tests Set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the defmition of a charitable companv for UK corporalion lax purposes. Accordingly, the charity is potcntially cxcmpt from taxation in rcspcct of incomc of capital gains rcccivcd within catcgorics covcrcd by Chaptcr 3 Part I l of the Corporation Tax Acl 201 O or Section 256 of Ihe Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individiial fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impainneni losses. Depreciation and amortisation Depreciaiion is provided on tangible fixed assets so as to MTite oft the cosl or valuation. less any estimaled residual value, over their expected useful economi¢ life as follows. Cash and cash equivalents Cash and cash equivalents comprise ¢ash on hand and call deposits, and other short-terni highly liquid investments that are readily convertible to a amount of cash and are subject to an ins]￿lI[1callt risk of change in value. Borrowings Intercst-bcaring borrowings are initially rccordcd at fair valuc, nct of transaction cost. Intcrcsl-bcaTing borrowqngs are subsequently carried at amortised cost. ￿'Ith the difference between rhe proceeds, net of transaction costs, and the amouni due on redemption being recognised as a chatge to the Statements of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as cu￿ent liabilities unless the clwiiy bas an unconditional rigbt to defer settlement of the liability for at least twelve months after the reportin(F date. Fund Structure Unrestricted income funds are general funds that are available for use at the trnstee's discretion in ￿rtherancc of the objectives of the Cl￿rity. Financial instruments Cla.s.fiJication Financial as5et5 and financial lixbilities are reeognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity insirument is any contract that evidences a residual interest in the assets of the charity deducting all of its liabilities. Page 9 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B Crescent Relief (London) Notes to the Financial Statements for the Year Ended 31 October 2024 Recognition and measmremenl All financial assets and liabililies measured at transaclion price (including transaction costs), except for those financial assets classificd as al fair valuc thtough piofit or loss, which are initially mcasurcd at fair valuc (which is norn)ally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaLtion. If an agreement constitutes a finanLing transaLtion, the financial asset or financial liability is measured at the present value of the future Pa￿lenL$ discounted at a market rate of interest for a similar debt instrument. Financial assets and liabilities are only offset in the statement of financial position when. and only when there exists a legally enforceable right to sei off the recognlised amounis and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecogmised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settle, b) the charity transfers to another party substantially all of the risks and rewards of ownership or the financial asset. or c) the chariry. despiie having retained some. but not all, significant risks and rewards of 0￿￿erShip, has transferred control of the asset to another paty. Debt ins¢rumen¢s Debt instruments which mttt the following conditions are subsequently measured at amortised cost using the effective interest meihod.. {a) The contractual return to the holder is (i) a fjxed an]ount- (li) a posltiNe ￿￿ed rate or a positive variable Tate. or {iii) a combination of a positive or a negative fixed rate and a positive i'ariable rate. {bl The contract may provide for repayments of ihe principal or the return to the holder (but noi both) lo be linked to a singlc rclcvani observable indcx of gcneral pricc inflation of the currcncy in which the debt instrumcnt is denominated, provided such links are not leveraged. {c) The contract n]ay provide for a determinxble variation of the return to the holder during the life of the instrument, provided thal {1) the new rate satisfies condition (a) and the variation is not contingent on future eNents other than (l) a change of a contractual variablc ratc- (2) to protect the holder dgaiDSt credit defrrioTation of the issuer. (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law. or {ii) the new rate is a market rate of in￿reSt and satisfics condition (a). (d) Thcrc is no contractual provision ihat could, by its tern￿, result in the holdcr losing thc principal amount or any interest attributable to the current period or prior periods. (e) Contractual provisions that perniit the issuer to prepay a debt instrument or perniit the holder to put it back to the issuer before maturity are not contingent on future events. other than lo proiect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in lei'ies applied by a central bank or arising from changes in relevant taxation or la￿,. ID Contractual Provisions n]ay permit the extension of the term of the debt instrument, provided that the return to the holder and any oiher contractual provisions applicable during the extende4J tenn satisfy ihe conditions of paragraphs (a) to (c}. Debt instruments that are classified as payable or receivable ll'ithin one year on initial recognition and which meet the above conditions are mcasurcd at the undis¢ount¢d amount of the cash or othcr considcration ¢xp¢¢ted to be paid or received, nel of impairnlenl. With the exception of some hedging instrument, other debt instnllnents not m¢¢ting these conditions are measured at fair value through profit or loss. Page 10 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B Crescent Relief (London) Notes to the Financial Statements for the Year Ended 31 October 2024 Commitments to make and receive loans which meet the conditio1￿ inentioned aboiwe are measured at cost (which may be nil) less impainnenl. Investments Investmenis in non-convertible preference share and non-puithble ordinary or preference shares {where sliares are publicly traded or their fair N'alue is reliably measurable) are measured at fair i'alue through profit or loss. Where fair value cannot be measured reliably, investmenis are measure ai cost less impairnienl. Investments in subsidiaries and asso¢iat¢s are measured at W5t less impainnent. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the sha￿S issued plus fair value of other consideration. Any premium is ignored. Derivativefinancial sla¢ements The charity uses derii'ative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative fmancial inslnunenis for speculative purposes. Derivatives are initially recognised at fair value al the date a derii'aiive conlracl is entered into and are subsequently remeasured to their fair value at each reporting date. The rcsulting gain or less i5 reco_oniscd in statement of financial activities immediately unless the deriN'aiive is designated and effective as a hedging instrument, in which event the titning of the rccognition in statcmcllt of finaDcial activities depends on the nature of the hedge relationship. Fair volue measuremeni The best evidence of fair value is a quoted price for an identical assel in an aclive market. When quoted prices are unavailablc, thc pricc of a rcccnt transaction for an idcntical assct proiTidcs cvidcncc of fair valuc as long as thcrc has not been a significant change in economic circumstances or a significant lapse of lime since the transaction took place. If the market is not active and recent transaction5 of an identical asset on their own are not a good estirnate of fair value, the fair value is estimated by using a valuation technique. 3 Income from donations and legacies Unrestricted funds General Total 2024 Total 2023 Donations from individuals 311.906 311,906 169,885 4 Expenditure on charitable aetii'ities Unrestricted funds General 2024 General 2023 CJenernl donations and projects Event costs Materials/foods for projecrs 147,720 967 92,994 148,687 92,994 Page 11 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B Crescent Relief (London) Notes to the Financial Statements for the Year Ended 31 October 2024 5 Analysis of governance c05tS Unrestricted funds General Total 2024 2023 Staff cosls Premises costs Motor and Irai'el expenses General administrative expenses Legal and professional costs Depreciation, amortisation and similar costs Oiher govemance costs 20.314 ii,ioo 1,596 7,371 350 275 16,671 10.600 4,078 7,868 363 60 41,007 39.640 6 Net incomingloutgoing resources Not incoming rcsourccs for thc ycar include: 2024 2023 Depreciation of fixed assets 275 60 7 Staff costs The average payroll costs are as follows: 2024 2023 Staff cosls during the year were= Siafy wages, PAYE and pensions No employee reLeived emoluments of nM)re than £60.000 during the year. 20.314 16.671 9 Tangible f]xed assets Furniture and equipment Total Cost At l November 2023 At 31 October 2024 10,332 10,-132 10,332 10.3.12 Depreciation At l Noven]ber 2023 Charge for the year At 31 October 2024 10,057 275 10,332 10,057 275 10,332 Net book value At 31 October 2024 At 31 Oetobcr 2023 275 275 8 Taxation The charity is registered charity and is therefore exempt from taxation. Accruals 1,208 2,173 Page 12 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B Crescent Relief (London) Notes to the Financial Statements for the Year Ended 31 October 2024 11 Reserves Other reserTres Total At l Novcmbcr 2023 (154.149) (154,149) 12 Funds Incoming resources Re50UT¢es expended Balan¢e at 31 October 2024 Unrestricted funds General {311.906) 189.694 (122,212) Incoming resourees Resourees Balance at 31 Oetober 2023 expellded Unrestricted funds Genernl (169,885) 132,634 (37.251) 13 Analysis of net assets between fund5 Unrestricted fund5 General Total funds Tangible fixed assets Current assets Current liabilities Total net assets 277,569 {1.208 276,361 277,569 {1,208 276,361 14 Analysis of net funds A¢ l Noi'ember 2023 At 31 October 2024 Cash flow Cash at bank and in hand Current liabilities Total nel funds 156,047 (2.174) 153.874 121,522 966 122.488 277,569 {1,208) 276,361 Page 13 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B Covnpany Rcgistralion numbcT-. 04084325 Charity Registration number.. 1087724 CRESCENT RELIEF (LONDON) (A Company Limited by Guarantee) Annual Report and Financial Sthiements for the Year Ended 31 October 2024 Docusign Envelope ID.. C9DA6881-EE3B41 E149F&0248CD495D6B CRESCENT RELIEF (LONDON) (A Company Limited by Guarantee) Contents Page Reference and Administrative Delails Strategic Report Trustee's Report Statement of Trustee's Responsibilities Independent Examiner's Report Statement of Financial A¢tii'ities Balance Sheet Notes to the Financial Staien]ent 8t0 13 Docusign Envelope ID.. C9DA6881-EE3B41 E149F&0248CD495D6B CRESCENT RELIEF (LONDON) Reference and Administrative Details Trustee Mohammed Rashid Principal OtTice 317 Legrams Lane Bradford BD7 2HX Registered OtTice 317 Legrams Lane Bradford BD7 2HX Company Registration Number 04084325 Charity Registration Number 1087724 Independent Examiner TaDweer Hussain Update Accountants Limited (Certified Public Accountants) 24 Station Road Manor Park London E12 5BT Page I Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B CRESCENT RELIEF (LONDON) Strategic Report for the Year Ended 31 October 2024 Thc trustcc, a director foi thc purposes of company law. prcscnts his strategic Icport for thc year endcd 31 Octobcr 2024, in compliance with S414C of the Companies Act 20(16. The strategic report was approved by the member of the charity on 24 Febnwry 2025 and signed on its behalf by: 4B7ABFIBDB834S7... Mohammed Rashid Trustcc Page 2 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B CRESCENT RELIEF (LONDON) Trustee's Report The member, a director for the purpose of company law, presents the annual report together with tbe financial statement of the charitable company for the year ended 31 October 2024. Objectives and activities Public benefits Activities undertaken to thrther public benefit The member confirnls that he has complied with Ihe requirements of section 4 of the Charities Act 201 I to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Structure. goi'ernance and n￿nagement Finaneial instruments Objectives ondpolieies The chariry's activities expose to a number of fmancial risks including credit risk, cash flow risk and liquidily risk. The us¢ of financial derivatives is governed by the charitys policies approved by the board of trustee, which provide written principles of the use or rinancial derivatives lo manage these risks. The charity does not use derivative financial instruments for speculative purposes Cashflow risk The charity's activities expose il primarily to tbe fmancial risks of changes in foreign currency exchange rates and intcrcst ratcs. Thc charity usc5 foTcign cxchangc forward contracts and intcrcsl ratc Swap contracts to hcdgc thcsc exposures. Intercst bearing asscts and liabilities arc held at fixcd Tatc to cnsurc certainty of cash flows. Credit risk The charity's principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity's credit risk is primarily attributable to ils trade receivables. The amounts presented in the balance sheet are net allowances for doubtful receivables. An all0￿.ance for impairment is make ￿here there is an identified loss event which, based on previous experience. is evidence of a deduction in tbe recovetability of the cash flows. The CTedil risk on liquid funds and derivative financial instrument5 is limited because the counterparties are bank with high credit-ratings assigned by internalional credii-raling agencies. The charity has no significant concentration of credit risk. NTrith exposure spread oveT a large number of eounterparties and customers. Liquidity risk In urdcr to maintain liquidity to cnsurc that sutScient funds arc variable foT ongoing operations and future developmenls. the charity uses a mixture of long-terni and short-lerni debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial stalemenis. The annual report was approved by the member of the chariry on 24 February 2025 and signed by on its behalf by.. 4B7ABFIBD883457.. Mohammed Rashid Trustee Page 3 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B CRESCENT RELIEF (LONDON) Statements of Trustee's Responsibilities The trustee (who is also the director of Cresceni Relief (London) for ihe purposes of company law) is Tesponsible for preparing the truslee'5 report and the financial statenients in accordance with the United Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounling Practice) and applicable law and regulations. Company law requires the member lo prepare financial statements for each financial year. Under company law the membei must not approve the financial statements unless he is satisfied thai they give a true and laii view of the state of affairs of the charitable company and of its incoming resource5 and application of resources, including its income and expenditure, for that period. In preparing these fmancial statements, the member is required to: select suitable accounting policies and apply them consistently. * observe the methods and principles in the Chariiies SORP. make judgements and estimates thal are reasonable and prudent- state whether applicable UK Accounling Standards have followed, subjeci to any material departures disclosed and explained in the financial statements. aT]d prepdrc the fI￿claI statcmcnts on the going conceTll basis utdess it Is inappTopriate to Presume that the charitable company ￿,111 continue in business. The member is responsible for keeping adequate accounting records thal are sufficient to show and explain the charitable company's transactions and dlsclose with reasonable accuracy at any time the fllwicial position of the charitable company and enable them to ensure that the financial staternents comply with the Companies Act 2006. He is also responsible for safeguarding the assels of ihe charithble company and hence for thking reasonable sw)s for the prevention and detection of fraud and other irregularities. Approved by the member of the charity on 24 February 2025 and signed on its behalf by: 4B7ABFIBD683457.. Mohammed Rashid Trustee Page 4 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B CRESCENT RELIEF (LONDON) Independent Examiner's Report I report on the accounts of the charity for the year ended 31 October 2024 which are set on pages 6 to 13. Respeetive responsibilities of trustee and examiner The trustee {Th'ho is also the director of the company for the pury)oses of company law) is responsible for the preparaiion of the accounts. The Iruslee considers thal an audit is nol required for this year under secrion 144(2) of the c.harities Act 2011 (the 201 l Act) and that an independent examiner is needed. Having satisfied myself thal the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to.. cxamine the aLLuunts under SeLliun 145 of thc 2011 ALI to follow the procedure5 laid in the general direction5 given by the Charity Con]mission under section 145(5)(b} of the 2011 Act. and * to state whether particular matters have come to my attention. Basis of independent examiner's report My examination was cartied out in accordance with genetal Direclions given by the Charity Commission. An examination includes a review of the accounting record.s kept by the charity and a comparison of the accounts presented w'ith those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations froin you as member concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters set out in the statement below. Independent examiner's statement In conncction with my examination, no matter has come to my attention= ( I I which gives me reasonable cause to believe that in any material respect the requirements= to keep accounting records in accordance with section 386 of the Companies Act 2006- and to prepare accounts which accord with the accounting records. comply wilh the accounting requirements of section 396 of tbc Companic5 Act 2006 and with the tncthods and principles of the Statetnent of Recommended Practice.. Accounting and Reporting by Charities havc not bccn mct- or {2) to which, in my opinion, attention should be drawn in order to eDable a proper understanding of the accounts to be reached. D￿￿S￿J￿Bd by.. 90156078CAFD4BD... Tanweer Hussain, B.Com. ACPA (On & For Behalf Of UPDATE ACCOUNTANTS LIMITED) Datc: 24 February 2025 Page 5 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B CRESCENT RELIEF (LONDON) Statement of Financial Activitie5 for the Year Ended 31 October 2024 (Including Income and Expenditure Account and Statement of Total Rerogni5ed Gains and Losses) Unrestricted funds Total 2024 Ineome and Endowments from: Donations and legacies Total Income 311,906 311.906 311,906 311.906 Expenditure On: Charitable activities Govcrnancc costs Total Expcnditurc Net income (148.687) {41.007) (189.694 122,212 (148,687) 41,007 (189,694 122,212 Reconciliation of funds Total funds carried forward 12 122,212 122,212 Unrestricted fund5 Total 2023 Income and Endoivmen¢s from: Donations and legacies Totsl Income 169,885 169.885 169.885 169.885 Expenditure On: Charitable activities Governance costs Total Expenditure Net income (92.994) (39,640) (132,634) 37.251 {92:994) {39,640) (132,634) 37,251 Reconciliation of funds Total fimds carried forward 12 (37.251) (37,251) All of the charity's activities derive from continuing operations during the above two periods. Page 6 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B CRESCENT RELIEF (LONDON) (Registration Dumber: 04084325) Balance Sheet as at 31 October2024 2024 2023 Fixed assets Tangiblc assets io 275 Current a5set5 Cash at bank and in hand 277,569 156,047 Creditors: Amount falling due M'ithin one year Net eurrent assets Tr4et assets {1.208 276,361 276,361 2,173 153,874 154,149 Funds of the charity: Unrestrieted income funds Unrestricted fi￿dS OthLr rcserves Total unrestricted funds Total funds 122,212 154.149 276,361 276,361 37,251 116.898 154,149 154,149 13 Thc financial stalemcnts on pagcs 6 to 15 iverc approvcd by thc trustees, and authoriscd on 24 Fcbruary 2025 and signed on their behalf by.. by.. 4B7ABF1BD883457.. Mohammed Rashid Trustee Page 7 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B Crescent Relief (London) Notes to the Financial Statements for the Year Ended 31 October 2024 I Charity status The charity is a charity limited by guarantee and consequenily does not have share capital. Each of the trustee is liablc to contributc an atnount not cxcccding £Nil towards thc asscts of thc charity in thc cvcnt of liquidation. 2 Accounting policies Summary of significant accounting policies and ke!. accounting estimates The principal accounting policies applied in the preparation of these financial stalements are sei oui below. These policies have been consistently applied to all the years presented, unless Other￿uSe stated. Statement of Compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Staternent of Recommended Practice applicable lo charilies preparing their accounts in accordance wilh the Financial Reporting Siandard appliablc in thc UK and Rcpublic of Ircland (FRS 102) (cffcctivc l January 2015) Charitics SORP (FRS 102). the Financial Reporting Standard applicable in ihe UK and Republic of Ireland {FRS 102) and the Companics Act 2006. BYdsi$ of prepydration Crescent Relief (London) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost of iransaciion value unless otherwise stated in the relevant accounting policy notes. Going concern The trustee consider thai there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. Exemption from preparing a cash flow statement The Charity opted to early adopt Bullelin I published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. Income and endojvments All incomc is rccogniscd oncc thc charity has cntitlcmcnt to thc incomc, it is probablc that thc incovnc will bc received and the amount of the incorne receivable can be measured reliably. Donations and legacies Donations are recognised when the charity has been notified in wiling of boih the amount and settlement date. In the event that a donation is subject to conditions that require a level of perforniance by the charity before the charity is entitled to the fLU]ds, the income is deferred and noi recogmsed until eiiher Ihose conditions are thlly met, or the fulfilmcnl of those conditions is wholly wTrthing thc control of thc charity and it is probablc tbat thcsc conditions Mqll be fulfilled in the reporting period. Expenditure All expenditure is recognised once there is a legal or construclii'e obligation to that expenditure, it is probable s¢ttlcmcnt is required and the amount can be measured reliably. All costs arc allocated to thc applicable expcnditure heading thal aggregate similar cosls to ihai category. Where costs cannot be direcily attributed to particular headings they have been allocated on a basis consistent M'ith the use of resources, wth central staff costs allocated on the basis of time spenl, and depreciation charges allocated on the portion of the asset's use. Oiher support costs are allocated bdscd OT] the spread of staff costs. Page 8 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B Crescent Relief (London) Notes to the Financial Statements for the Year Ended 31 October 2024 Raising funds These are costs inc￿ed in attracting voluntary in¢ome. the management of investments and those incurred in trading activities that raise funds. Support eosts Support costs include central functions and have been allocated to activity cost categories on a basis consistent ￿1th the use of resources, for example, allocating property costs by floor areas, or per capita. staff costs by the time spent and other costs by their usage. Governance costs These include the costs attributable to the charitys compliance u'iih conslitutional and statulory requirements, including audit, strategic n]anagetnent aDd t￿￿tee'S MeetI￿gS and reimbursed expenses. Taxation The charity is considered to pass the tests Set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the defmition of a charitable companv for UK corporalion lax purposes. Accordingly, the charity is potcntially cxcmpt from taxation in rcspcct of incomc of capital gains rcccivcd within catcgorics covcrcd by Chaptcr 3 Part I l of the Corporation Tax Acl 201 O or Section 256 of Ihe Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individiial fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impainneni losses. Depreciation and amortisation Depreciaiion is provided on tangible fixed assets so as to MTite oft the cosl or valuation. less any estimaled residual value, over their expected useful economi¢ life as follows. Cash and cash equivalents Cash and cash equivalents comprise ¢ash on hand and call deposits, and other short-terni highly liquid investments that are readily convertible to a amount of cash and are subject to an ins]￿lI[1callt risk of change in value. Borrowings Intercst-bcaring borrowings are initially rccordcd at fair valuc, nct of transaction cost. Intcrcsl-bcaTing borrowqngs are subsequently carried at amortised cost. ￿'Ith the difference between rhe proceeds, net of transaction costs, and the amouni due on redemption being recognised as a chatge to the Statements of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as cu￿ent liabilities unless the clwiiy bas an unconditional rigbt to defer settlement of the liability for at least twelve months after the reportin(F date. Fund Structure Unrestricted income funds are general funds that are available for use at the trnstee's discretion in ￿rtherancc of the objectives of the Cl￿rity. Financial instruments Cla.s.fiJication Financial as5et5 and financial lixbilities are reeognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity insirument is any contract that evidences a residual interest in the assets of the charity deducting all of its liabilities. Page 9 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B Crescent Relief (London) Notes to the Financial Statements for the Year Ended 31 October 2024 Recognition and measmremenl All financial assets and liabililies measured at transaclion price (including transaction costs), except for those financial assets classificd as al fair valuc thtough piofit or loss, which are initially mcasurcd at fair valuc (which is norn)ally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaLtion. If an agreement constitutes a finanLing transaLtion, the financial asset or financial liability is measured at the present value of the future Pa￿lenL$ discounted at a market rate of interest for a similar debt instrument. Financial assets and liabilities are only offset in the statement of financial position when. and only when there exists a legally enforceable right to sei off the recognlised amounis and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecogmised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settle, b) the charity transfers to another party substantially all of the risks and rewards of ownership or the financial asset. or c) the chariry. despiie having retained some. but not all, significant risks and rewards of 0￿￿erShip, has transferred control of the asset to another paty. Debt ins¢rumen¢s Debt instruments which mttt the following conditions are subsequently measured at amortised cost using the effective interest meihod.. {a) The contractual return to the holder is (i) a fjxed an]ount- (li) a posltiNe ￿￿ed rate or a positive variable Tate. or {iii) a combination of a positive or a negative fixed rate and a positive i'ariable rate. {bl The contract may provide for repayments of ihe principal or the return to the holder (but noi both) lo be linked to a singlc rclcvani observable indcx of gcneral pricc inflation of the currcncy in which the debt instrumcnt is denominated, provided such links are not leveraged. {c) The contract n]ay provide for a determinxble variation of the return to the holder during the life of the instrument, provided thal {1) the new rate satisfies condition (a) and the variation is not contingent on future eNents other than (l) a change of a contractual variablc ratc- (2) to protect the holder dgaiDSt credit defrrioTation of the issuer. (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law. or {ii) the new rate is a market rate of in￿reSt and satisfics condition (a). (d) Thcrc is no contractual provision ihat could, by its tern￿, result in the holdcr losing thc principal amount or any interest attributable to the current period or prior periods. (e) Contractual provisions that perniit the issuer to prepay a debt instrument or perniit the holder to put it back to the issuer before maturity are not contingent on future events. other than lo proiect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in lei'ies applied by a central bank or arising from changes in relevant taxation or la￿,. ID Contractual Provisions n]ay permit the extension of the term of the debt instrument, provided that the return to the holder and any oiher contractual provisions applicable during the extende4J tenn satisfy ihe conditions of paragraphs (a) to (c}. Debt instruments that are classified as payable or receivable ll'ithin one year on initial recognition and which meet the above conditions are mcasurcd at the undis¢ount¢d amount of the cash or othcr considcration ¢xp¢¢ted to be paid or received, nel of impairnlenl. With the exception of some hedging instrument, other debt instnllnents not m¢¢ting these conditions are measured at fair value through profit or loss. Page 10 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B Crescent Relief (London) Notes to the Financial Statements for the Year Ended 31 October 2024 Commitments to make and receive loans which meet the conditio1￿ inentioned aboiwe are measured at cost (which may be nil) less impainnenl. Investments Investmenis in non-convertible preference share and non-puithble ordinary or preference shares {where sliares are publicly traded or their fair N'alue is reliably measurable) are measured at fair i'alue through profit or loss. Where fair value cannot be measured reliably, investmenis are measure ai cost less impairnienl. Investments in subsidiaries and asso¢iat¢s are measured at W5t less impainnent. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the sha￿S issued plus fair value of other consideration. Any premium is ignored. Derivativefinancial sla¢ements The charity uses derii'ative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative fmancial inslnunenis for speculative purposes. Derivatives are initially recognised at fair value al the date a derii'aiive conlracl is entered into and are subsequently remeasured to their fair value at each reporting date. The rcsulting gain or less i5 reco_oniscd in statement of financial activities immediately unless the deriN'aiive is designated and effective as a hedging instrument, in which event the titning of the rccognition in statcmcllt of finaDcial activities depends on the nature of the hedge relationship. Fair volue measuremeni The best evidence of fair value is a quoted price for an identical assel in an aclive market. When quoted prices are unavailablc, thc pricc of a rcccnt transaction for an idcntical assct proiTidcs cvidcncc of fair valuc as long as thcrc has not been a significant change in economic circumstances or a significant lapse of lime since the transaction took place. If the market is not active and recent transaction5 of an identical asset on their own are not a good estirnate of fair value, the fair value is estimated by using a valuation technique. 3 Income from donations and legacies Unrestricted funds General Total 2024 Total 2023 Donations from individuals 311.906 311,906 169,885 4 Expenditure on charitable aetii'ities Unrestricted funds General 2024 General 2023 CJenernl donations and projects Event costs Materials/foods for projecrs 147,720 967 92,994 148,687 92,994 Page 11 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B Crescent Relief (London) Notes to the Financial Statements for the Year Ended 31 October 2024 5 Analysis of governance c05tS Unrestricted funds General Total 2024 2023 Staff cosls Premises costs Motor and Irai'el expenses General administrative expenses Legal and professional costs Depreciation, amortisation and similar costs Oiher govemance costs 20.314 ii,ioo 1,596 7,371 350 275 16,671 10.600 4,078 7,868 363 60 41,007 39.640 6 Net incomingloutgoing resources Not incoming rcsourccs for thc ycar include: 2024 2023 Depreciation of fixed assets 275 60 7 Staff costs The average payroll costs are as follows: 2024 2023 Staff cosls during the year were= Siafy wages, PAYE and pensions No employee reLeived emoluments of nM)re than £60.000 during the year. 20.314 16.671 9 Tangible f]xed assets Furniture and equipment Total Cost At l November 2023 At 31 October 2024 10,332 10,-132 10,332 10.3.12 Depreciation At l Noven]ber 2023 Charge for the year At 31 October 2024 10,057 275 10,332 10,057 275 10,332 Net book value At 31 October 2024 At 31 Oetobcr 2023 275 275 8 Taxation The charity is registered charity and is therefore exempt from taxation. Accruals 1,208 2,173 Page 12 Docusign Envelope ID.. C9DA6881-EE3B41 E1-89F&0248CD495D6B Crescent Relief (London) Notes to the Financial Statements for the Year Ended 31 October 2024 11 Reserves Other reserTres Total At l Novcmbcr 2023 (154.149) (154,149) 12 Funds Incoming resources Re50UT¢es expended Balan¢e at 31 October 2024 Unrestricted funds General {311.906) 189.694 (122,212) Incoming resourees Resourees Balance at 31 Oetober 2023 expellded Unrestricted funds Genernl (169,885) 132,634 (37.251) 13 Analysis of net assets between fund5 Unrestricted fund5 General Total funds Tangible fixed assets Current assets Current liabilities Total net assets 277,569 {1.208 276,361 277,569 {1,208 276,361 14 Analysis of net funds A¢ l Noi'ember 2023 At 31 October 2024 Cash flow Cash at bank and in hand Current liabilities Total nel funds 156,047 (2.174) 153.874 121,522 966 122.488 277,569 {1,208) 276,361 Page 13