Charity registration number 1122878
Company registration number 06269709 (England and Wales)
CROYDON COMMITMENT LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
CROYDON COMMITMENT LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Directors Mrs K Glass Mrs K D Chillman Mr I J Palmer A H Biley (appointed on 13 January 2025) S Carroll (appointed on 13 January 2025) L C Jackson (appointed on 28 November 2024) A Khan (appointed on 28 November 2024) J P Goodridge (appointed on 17 September 2024)
Charity number Company number Principal address
1122878
06269709
c/o Croydon Commitment Mott Macdonald Renaissance House 9-16 Dingwall Road Croydon Surrey CR0 2EE
Registered office Tbxh Sunley House 4 Bedford ParkCroydon Croydon Surrey CR02AP Independent examiner DSK Partners LLP, Chartered Accountants 306 High Street Croydon Surrey CR0 1NG
CROYDON COMMITMENT LIMITED
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 -14 |
CROYDON COMMITMENT LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The Directors present their report on the affairs of the charitable company together with the accounts for the above year.
The following report is prepared in accordance with the small company regime (Section 419(2) of the Companies Act 2006).
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Objectives and activities
The objects of the charity are to bring the business and voluntary sectors together for the benefit of Croydon residents and the local environment. The voluntary sector refers to charities and voluntary organizations and does not refer to local government or other statutory authorities.
The main activities undertaken are local community projects around the themes of education, employment, environment, health & wellbeing and Social Inclusion, the majority of these projects are supported by volunteer staff from companies in Croydon and local charities.
The trustees confirm that they have referred to the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. The have paid due regard to guidance issued by the Charity Commission in deciding what activities they should undertake.
Public benefit
The Directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake.
Achievements and performance
Significant activities and achievements against objectives
The Directors feel that the overall standing of the charity has reflected the successful implementation of a new funding strategy. Performance has exceeded expectations, particularly in light of the economic downturn and the uncertainties of both political and financial stability. As we move into 2024, our continued careful monitoring and management of the financial resources available ensure that the Charity will operate within the acceptable parameters whilst supporting our stakeholders. The Directors feel that the report and accounts are a true reflection of the charity's receipts for the financial year and the income generated has met with our previous cautious financial forecasts.
Following on from the successful bid to John Lewis in 2020 to run the Ways2Work Employability Programme, the Directors and management team worked together on a new programme and funding strategy. A decision was made to focus almost exclusively on employability programmes which made best use of our business partnerships and their employee volunteers as well as having continuing relevance to the socio-economic framework of Croydon. The business community is still feeling the effects of Covid and Brexit and so we have had to look at multiple funding streams - these include grants, sponsorships, consultancy work, business trusts as well as donations and some membership fees.
Ways2Work has continued to deliver events and engagements reaching nearly 3,000 participants and careful resource management means that we can extend the programme well into 2024. There is potential to further develop the programme to support younger job seekers via a new Steps2Work initiative, subject to additional grant funding. In May the charity held its 4th Veterans Lunch to celebrate the Jubilee and in November was successful in being awarded funding from the Metropolitan Police to help them recruit from under-represented groups. This programme will be delivered in 2024. The charity also helped to support the launch of Our Future Health.
The charity will continue to work on its employability programme and has some new primary school activities and events in the pipeline. Whilst the focus will rem in on employment, the charity will maintain some interest and involvement in education, social inclusion and sustainability projects.
- 4 -
CROYDON COMMITMENT LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Flnanclal f•vlew R•sety6s pdicy Croydon C¢Mrnilrnenl has a policy regardin9 the levgl of $&VeS held al any on8 time in the bank. arnd this is Ihal I arnounl ol rnoney held on reserve 5$ a minimurn of more than one year of th8 ch8ritys running COSt5. Thls in real terms currtnlly aount5 to £75,000 being held In Ihe bank accgunl and guaranle85 thal the ch8fily may still operate for 81 least Ihat period If financial difficulties 8nsue This requirernenl w8s satisfied a5 ai the year end. We feel thi$ is a Yesponsible acllon on our part anil Is accordance with guidglines laid down by Ihe Charllles CoTnmis5ion. ajorrisks The Oirectors have 8sse$$ed the major risks lo the cP14ritable company 1$ oxposed and art satisfv4d that sysitms aro In place io mitwate 8xposur¢ lo tho major ri$k5. Structure, governance and manag8ment ¢haril8ble company Ss a cornpany limited by guarantee. Thè 9ovwning do¢ument i8 the m•morèndurn and artlcles ol asslat)n. Thg methods adopted for the r•cruilmgnl and appoinlmfjnt of new directors is by Invllatlon onty Infull agreement of the boar(t. The Iru$lee$, who were also directors lor Ihe purpos• of cornpany18w, and who $efy•d during th? year and up io the dale of 5ignalur8 01 th8 financ181 $tstemani$ wer8.. Mrs K. Glass Mr5 K D Chi11rn8 Mr l J Pglmer A H 8iley S CArroll lapp0lnt on 13ffi Janvary 20251 l¥ppolnled on 13* January 2025 lappoinled on 28° Novembèr 20241 lappoinled on 28th Novèmber 20241 LC Jackson A Khan J P Goodrldge 18ppolnled 17kn Seplgmber 20241 Rècruilrn?nl 8nd 8ppoinlmenl of truslee¥ one ol the Director5 has any bengficial inlèrèsi In th8 ¢ompany. Al of th• DiMctor$ Bro membfrrs of thè company and gu8rantee to contnbulo £1 in the event ol a winding up. The Tru ee$, report was opprov•d by the 8oard ol Dlroelors. Mrs K Glass Diredor 12 December 2025
CROYDON COMMITMENT LIMITED STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The director$, who also act as trustees for the charitable aclivfties ol Croydon Cornmitmenl Llmlled, are ro$pon$ible lor prepafing the Direclots. Report gnd the 8ccounis in accordance with applic8ble law 8nd United Klngdom Accounting Stsnéard5 IUni18d thadom Generally Accept¥d Accounting Pracli¢o1. Company Law qUireS the Dwectols lo prepare accounts for each financial year which give a true and fair viow of Ihe stat8 of affairs of the ch81ilabl8 company and ol the ineomiNJ re$ource5 and applration of resources. including the income and expondlure. ol thè eharilablg ¢¢mpany lor Ihal year. In prepartng the58 a¢c¢xJnls, Iht Directors a requlred to.. . 8elect $uftabl• oeeountlng pollcles and than apply them tonslslenty.. . ob$eNe the meth$ 8n(t prlnclples In the Chanll•$ SORP.. - rna8 judgernenls and •Slthaie¥ that are reasonablg and prudenl., Slate whelher applicable UK kcounting $18ndards have been follt)Wod, subject Ic any material departures di$clo$ed and eXp[nId in the accounts,, and prepare the aoUnts on th• gng concern bo$i$ unlès$ 1$ In8pproprlal• to pr•8urne that the charllable MPanY wlll conllnue In operalicfi. The Dlreclor$ art respon$lble for kètrping ad8qU8le accounllng records th81 di$ck)se with reasonabl8 ac¢ur8ey al any limg the fin8n¢i81 posllion ol the ch8rllable company and enable them to ensure that the accounts Comply with th8 Compan1•$ Act 2006. They are also responsSbl8 for 5afeguardlng the a55el$ of the chari18ble company and hence for laklng reason8ble st6p$ for the prwfrnllon and delecllon ol fraud ond other Irrogularitre5.
CROYDON COMMITMENT LIMITED INDEPENDENT EXAMINER'S REPORT TO THE DIRECTORS OF CROYDON COMMITMENT LIMITED I r¢port on financial slalemonts ol the Charitab company for Ihe ye8r ended 31 December 2024. which are Set out on pages 5 to 14. R¢spg¢tlve r•5ponslbllltl08 of Dlr•¢tors and •xamlnor The ¢harllable cornpany's directors, who also acl as trustees the charitable activities of Croydon Commltmenl Limited, are sponsible IOT the preparali¢)n ol the financial slatemenls. The Diiec¢ors consider Ihat an audit 1$ not requirod for Ibls year unL1¢r section 144121 of Ihe Ch8nlles Acl 2011 (the 2011 Acll and that an Independent examination Is needed. Havillg $8lisfie%t mysem Ihal Ihe Charity is not sublaei to 4udil under company law and is elibl• lor IrKlep8nd8nt examination. il is my responsibility to.. èxamine the financial Slalemenls undef Section 14S oflhe 2011 Id., lo follcw th? procedures laSd down in th? gener81 Directbns ven by the Charity Comml$sion uniler sl0n 1451Sllbl of the 2011 Acl, and liiil Io Slate whether p8rticular matt•r5 have come lo my attenllon. Bas1• ol Indepond•nt •x•mln•r'o r•p<>rt My examination wa$ carried oul In accordan¢e wlth the general Oireclion5 9iv?n by tho Charlty ¢ommissSon. An examination Includ 8 reviw ol tho accoun1ng re¢ord$ kept by Ihè charity and a comparlson of the fin8nci81 $18lemenis presenltd wllh those record5. 11 also Indud85 CoTr5id¢ralan ol any unusual i10rn5 or dis¢lo$ures in Ihe financial sl8lemenl$ and seeking èxplanations Irom you as Iru$tees conc8ming any such mterS Th• procgdures undertaken do nol provide 811 the evidence ihai would be requlred In an audlt arnd consequently no opinion Ls given as lo wheihw Ihe nnancial slatem¢nls pT85enl 8.true and fair view. and the roPQrt 1$ limited lo Ihose rnzNers sel gul In the noxl sta18menl. Ind•p•nd•nl examln•rf• •t•l•m•nt In connection wlth my oxaminalicn. no rnatter h8s come tomy attenllon.. lal whi¢h gives me 8$onable cau59 to belleve Ihol In any rnaièr*l re$pe¢l the requlrements.. lo keep 8ccounlmg records In aeetsrdan¢e wjlh section 386 01 lib Companiès Aei 2006". aNJ lo prèparo financial $1818monls which accord with Ihe a¢counling reeord5. comply wlth tho •ccounling requiyèmenls ol $o¢lion 396 01 Iho Companies A¢1 2006 8nd with Iho mélhods And principles ol lh• Slalemenl of Rèe¢)mmende(I Praclice. Accounllng and Reporting by Charities. have not bean met or Ibl lo which, in my opinion, attention Should be drawn In order to on8ble • proper und•rslandsng of Ihe finaneièl slaièm8nls lo be reached. Dhir81181 Shth IFCAI DSK Partn•rs LLP Chart•r•d Accounlanl$ 306 High Slroèt Croytjon Surrey CRO ING Dai•d.. 12 December 2025
CROYDON COMMITMENT LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 UnYe$trlcted Unre8trlcted lund8 fund$ 2024 2023 Note$ Incomè from.. Volunt8ry Incomè Investments 84,083 68,422 300 58 Total IncLYne 84.383 Expendllure on.. Support Costs 20,414 23.261 Charll8bl• aelivilie¥ 34.51S Totol r•stsur¢è$ gxpended 54.929 54.745 Not Incomellexpendllurel for Ihg yoarl Nei movemonl in fun¢s Fund balance$ 811 January 2024 Fund balances 8131 Dectrmber 2024 29.454 13.73S 106.737 77.283 The Slalemènl of financial actlvitws includes all g•ln$ ènd10¥3e$ recogni$éd in the year. All irtorne and exp•nditure denva from contiNe aclrvilie$ Thg Stalernenl of finan¢ial actlvlth'¢$ also cornplles with thè requirernenls for on income an¢J èxpenditvre account und¢r the Cgmpanle$ Act 2006.
CROYDON COMMITMENT LIMITED {Registralion number= 06269709) BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note5 Fixed assets Inv8$lmenls 100 100 CUrn1 ossets Debtors 19.140 488 Cash ai ballk and In hand 117,499 100222 138.639 100.710 Credllor8.' amounts falling due wllhin ono y?)r Not curr•ni os$819 12 130,0021 123.5271 106,637 77,183 Total assets less ¢urrent Iwblliligs 106,737 77.283 Income funds 106,737 77.283 Unreglricled funds 106.737 Tho compgny Is entlll?d lo Ihe exempllon Irom lh• •udll rtguirernènl ¢onlalned in $eclk)n 477 01 the Comp8nies Act 2006. for th• year 8nde(131 Oecember 2024. The Dlr•clors aeknowlèdge thgir reJpon8lbililies for 8nsurlng that thè charity keeps accounting r•cord$ which compty wlth section 386 of thè Aei And for pr¢pariThJ account$ whh givo a true and lalr view of the stale o10ffairs of the company a$ at the end of Ihe fin8n¢ial yoar and of ils incoming rgsourcg$ an¢ applicalits) of r•sourc85. In¢ludin9 11$ Incomè and expenditure, for Ihg financial ye81 In accorilanco wilh Ihè roquirern?nls ol $e¢lions 394 and 395 and which olleiSe comply wilh Ihe rèquirements ol Ihe Companles Act 2006 rdaiing tg ?¢¢ounls. $0 far as applicabl• 10 tha company. Th• m•mbér$ hov¢ nol loquired the company to obtain an audil ¢f its financial statent$ lor Ihe year In quèsllon In OrdanCe with s•elknn 476. These financial sialèmént$ have b88n piep8red In accoanCe wrth thè provi8i¢xs 8pplicabl• to companieJ subject lo th• srnall comp8n18s' regim•. The financi81 tslem•nts wero approvèd by the Oirgclors on , i21Jéc 20£ Mrs K Glass Dr*ClOr
CROYDON COMMITMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2024 l Accounting poli¢i$s Charity informatio Cioydon C(xNmilrnent Ltrniled 18 a private comp8ny limited by guar8nlpe incorpDrated Jn England and Wale$. The reglslered office is Tbxh Sunley House. 4 Bedford Park, Croydon, Surrey, CRO 2AP. Accounting convonlion Th¥ financi Sbl&m8ni$ h8V0 bF8n prepared In acc<>rdanc8 wlh th8 charilae company's governin9 dotumènl, the Cornpanies Act 2006, FRS 102 'The Fln8ncial Reporting Standard applicable tn the UK and Republic ctf Irelan I"FRS 102.1 and the Charities SORP 'Ac¢ounting and Repgrting by Charrties.. Statement ol Ratommendsd Practice applicable lo charllles weparing their a¢counts in 8ccoriJan(* wilh the Financial Res>orting Standard applicable in the UK and Republk ol Ire18nd IFRS 1021" leffeclive l January 20191. The Chantable company is a Public Benofil Entity as defined by FRS 102. Thg ch81118ble tompany ha$ taken advantsge ol the prov181ons In the SORP lor ch8rilles not lo pr?p8re a $1818rn¢nt ol Cash Flw$, The financial staloment$ are prepared In Sterling. whlch 1$ ihe functional curr•ncy ollh? charitsble company. etary 8mounl3 In thesè fin8n¢i8181aiornenlJ ara rwnd•d 10 lh• n•ar•61 £. The accounts have bgon pr•parèd under the hlsknrKal cg51 ¢onvtsnli¢)n. The pTr¢1paI accounllng pdldes adopted are sel out below. Charitable funds Unreslricled lun(J$ ar8 available for use al the dls¢relion ol the Dir•ctor8 in furtherAnco of Iheir¢hari18ble obje¢lfves. Restricted funds are subi•et lo spoclflc condrtlons by donors or granlfrrs #s lo how they may bè usèd The purp05•9 and usès of the reslnclod funds ar• let out in the nol•J lo Ihe financlal st81omenl$. Endwment funds arè subj8cI to $pecific ¢ondition$ by d?nofS Ihal the pItal musl be mainlained by thè ¢haril8ble eomp#ny. Ineoming reBource8 Income is reGognised whèn lh• charilawe company Is legolly enlill8d lo N after any perfom)anc• eondilions have been rnet. the emounls can be rne8&ured reliably, and il is probable Ihal incorne will be re¢eived. Cash donatlon$ are retognisèd on receipl. Othèr donations are recogni58d once tho charitable company has been noirfied of the donallon. unless performance conditions require deforr81 of the amount. Inme lax recov•Table in r•18tn lo donations received undèr Gift Ald or dfrods of covenant Is rfjco)ni$8d al the lime ol tho donation, L8gÈcies are recognisèd on roeaipt or othe1$& 1 the charitable company has been notifièd of an Impending distribution, the amount is known. &nd receipl Is ex¢18d. If the amount is not known, the legacy is Ireatad as a contlngenl ass•t. R•v•nue is measured al the fair valuè of the consid•rtttion receNed or receiv8? 8nd repres8nt$ amounis rec•ivabl• for seNi¢es providèd in the n¢Ymal ¢ours• of business. net of tliseounl8 and other sa1•54elaled 18xes. 10
CROYDON COMMITMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Icontinuedl 1,4 Resource5 expanded ExpendilLtre is recognised once there is a legal or¢onstruclive obligation to transfer econornic b8nefit lo a third party, il is probable that 8 Iran$for ol economic benefits will be required in setllemenl. and Ihe arnounl of the obligaiion can be m8a5ur8d reliably. Expen¢ilure Ss classlfied by activity. The ¢0515 of each aclivlty are up of the 10181 of t1irecl costs ond sh8red costs. 4n¢ludlng support costs involved In untlertaklng 88ch Sctivity. Direcl costs allfibul8ble lo a slnglè activily are allocaltsy dlreclly to Ihal aclivity. Sh8red costs which contribute lo More than one activity and supporl cosi$ which are nol attribuiable lo a single activity are apportioned between Ihose aclivi118s on a b8s1s conslstenl with th8 $8 of re$ource5. Cenlral 51aff costs are allocaiod on Iho ba$1$ of time spent, and deprecuillon chargès ar8 allogalo(l on the portion of the asset's use. Expendilura 15 recogn188(l on an accrual's basi$. The CL•$t of gengraling funds 1$ lundral¥ing ?xpgndiltsr• Incurrgd by lh8 charly In r•$pecl of voluntary Income and ncom• Ifom fundroislng activhle$. The exp8ndllure In¢lud&s dlrKI $laff cos18 and support costs. Ch8rilable acllvllies expendilure includes actlvttle$ idenlKiabl• as wholty or malnly In support of Iht objectives ol the Charity. Gr8DI8 8r? recogn1s as cornmilted. Governance costs ar¥ Ih05e co$t$ rdaling 10 COM18n¢ with constilulion81 and slalulory requlr8m8nl$ and tho Structure and govern8nce review. 1.5 Flx•d asset investments Flxèd asset invgslmenl5 are Inlllally rnea8urg1181 transacllon price excluding Iransaelbn ¢o$ts and are subsequently measured at fair value al each reporting dale. Chang•9 in lalr value are recognisèd In nèi in¢(¥ne le¥penilltur81 for Ihe yéar. Tran$aclion ¢osts are expèns8(l as Incurred. 1.6 Cash and cash equlvalents Cash on(1 cash eouivalenls includè cash In hand. deposils hgld at call with banks. Othèr SIK•rt.le liquid invè51m8nl5 with origiral rn8liJrilies of Ihroo month$ or18s8, an¢Y bank overdrafts. B8nk overdralts arè shown within borr¢)wings in 1.7 Finan¢ial instruments The ch8rilablè company has elecled loapply thè provision$ ol SeciK>n 11 'Basic Fin8nclg41 Inslrum•ni$' and Section 12 'OIMr Finènaal Instruments Issues. ol FRS 102 10 811 of rt$ financial inslrum8nls FinancAal Inslrum•nls arè rèeognlsed In tho Chariièble company's balanc• $he•i wh8n the chantabjo company bècomes partty lo the ¢onlra¢tual provision$ of Ihe Insirumenl 8•slc Iln•nel•l •$$ts Financial asse15 classified as other financial ass8tS are $lato¢J al lair value with any gains or losses 8rising on remeasurement recognized in prolit and loss. The net gain or Ios5 re¢ognized In profil or105s inclu(Jes any dividend or interesl eamed on the financi818s$el.
CROYDON COMMITMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 3 7 DECEMBER 2024 Accountlng poliCS (Continuodl Olhor flnan¢l•l as••t¥ Finantial assels with fixed or deterrninable p8ymenis and fLxed m8turily dales that the tharilabl8 company has the posillv¢ intent and ability to hold to malurlty are cLqssrfi8d as heKI lo malurily Inv8stmenls. Held lo maturity inveslments are rneasured Bl amort156d c05t u¥ing tho effecllve inleresl method less any impaimient. with r•Yonu6 recognisgd on an offective yidd b8$18. The effectNe Interest method 15 a thOd of caleulaling Ihe amorti$ed wsl ol a debl In51rurnenl anLI of allocating the Iniere51 income ovei the relevgnl perlod The effective in18r851 rale is the rate Ihat exactty discounts e$tirnated future ash receipts Ihrou9h the expec18d lrfe of the debt kn5trument to the nel carrying amount on initial rec¢gnllS0n. Imp•lrm•ntof fln¥n¢l•l¥¥set• Financial as5els. other than Ihose hel¢J al fair Val through incorne an(t expenditure. are as$g$¥ed for Sndicalors of Impainnenl al each reporting d81e. Finan¢ial as5el$ are Impaired where Ihere Is objective e¥enCe Ihai. 8$ a result of one or more events thai occurred after the Inlllal recognilion ol th? financial 8ss•1. the estirnaled luluie cash fltyv$ have been affected. If sn as1 Is Impalred, thg irnpairrnonl loss15 Ihe Jifforence beets lh• carrying amount and Ihe pr•sent value ol th• eslimaled cash Ilows discounted ai thè as58t's original 6ffectiv• Ini•rest role. The Imp81m)enl loss Is r8cognis&d in net In¢om6 lexptsndlturel lor tho y•ar. 11 Ihère is a decrease In th• lfflpainn8nl 195$ 8rlsing from an ovenl 0¢[rIng after the Impaifrnent was recognised, Ihg irnP8inngnl 5$ reversed. The reversal is such Ihal the currgnl carrying amwnl does not exceed whal lh8 carryiro omoJnl would have been. hod Ihe lrnpairnonl nol previousty b88n recoGnised The impairmenl revor$al Is recognlsed in nèi income lexpendllurèl lor th8 year. Dwtrcognilion of fJnanci&l a8seil& Flnaneial asset$ are ijorecognisod only when the coniroclu81 ilghtj to the cash flows from the 98$el •xpSre or are settl•d. or when the charblab company Iransfers the flnaneial and $ubsl8nlially all the r15kB and rswafds gr ownership lo another entity, or Il some significanl nsk$ and rewards of own8rship are relained bul control ol assat ha$ Iranslerred lo anoth¢r party that Is abl• 10 $911 the 8$set In 11$ •niirèty lo an unrg18led third perty. 8•slc Iln•n¢ll Il•bllltl•s Basie financial liabililies. including credilors •nd bank 198n$ are inllially rèeognised 8t Ir8n$adion price unle$$ the alrangemenl con$liltsles a financing Irans8¢1ion. whèrè the debl instrument is megsurèd al the present value ol the future payrnonts discounted at B market r•t• of inlgre$l. Financlal Ilabilill•$ cl#s$rfted As p8ygbl8 wllhin one year are not 8rn0rt188d. Olh•r Iln•n¢l•l Ilbllltl•s Deri¥aliv•5. including Inlerosl rate Swaps and forward lorevan oxchange conlra¢ts, are not basic financtal in$lrum•nti. Derivauves are initially recognised al fair value on the data a deriv•tnie contract is entered Inlo 8nd 8re subse9uoniiy reasud al thelr lair value. Changes in ihe lair value of derivatives ar• rècognised in or in finance Costs or finance income 88 appropriat&. unl•ss hedge accounllng Is •ppliod and the hed9e 4$ a eash flow hèdge. 1.8 Employ•e benoflt* The co$1 of any unused holid8y enlillem•ni is recogns$ed in the period inwhich th8 employee$. s•ryices are re¢e4v•d. T•rminalion benefits are recognisod irnmedialely as an exp8nse when the charilablt cunpany is demonstrably committed 10 tèrminate the employmeni of an employee or to provide terninalion berit$. 12-
CROYDON COMMITMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 37 DECEMBER 2024 A¢¢ountlng pollcJe¥ Icontlnuedl 1.9 Retlrern•nt benoflts Payfflenls lo defined contrlbution reliremenl benent schemes are charged B5 an 8xpen$? 89 Ih8y fall due. 1.10 For•lgn ¢xchang• Transactions in tUeno$ other than pounds Slerfing are rec4)rLled al Ihe r81è5 of exchang8 prevaihn9 al the dates of the 118nsociions. Al each reportirvj ènd dale, morelary assels and 118bililies Ih81 are d&nominaied In foreign currgn¢ie$ are relranslaled al Ihe rale5 prevailiThJ on thg reporting end (lal•. Galns an(J ltsssos ansing on Iran$lation In thtr p8riod are included in profil or loss roydon Cornmitmenl Llmiled Is 8 regl$i8r8d charity. Ng. 1122878, and 18 gxempt Irom Ineorne and c8pllal gains tax under the provi$ion$ of Sectk)n 505 01 the Incorne and Corporation T8xe$ Act 1988 an¢J Sèction 145111 of the Capltal Gains Tax A¢1 1979. 1.12 Fund J¢counllng Reslricièd lund5 comprise unexpended balances ol dOnalan and grants ld on trust to bo hppli9d for specillc wrpo8e&. D•slgnal•d lund5 cornpri$e funds whlch have been sel aside al th8 dis¢retion of Ihe dlrectors lor specrfic PUfPO$e$. Gener81 funds comprls8 the accumulalgd ng1 movemenl In lund$ on Incomo and expendrturg. They are av#ilabl8 for se 41 the disc¥&llon of th• dlrectors in furtherance ol the ra1 obleclNes ol Ihe charity. In¢om• from Inv•thi•nts Unr•¥trlct•d Unr•$trl¢t•d fund• lund 2024 2023 Inieresl wcaiva 300 58 Volunlary In¢om• Unr•strl¢t•d Unr••trlc¢•d lund• lund• 2024 2023 Oon81ions and gifts 18,577 1,463 Granl Incom• ,997 50.9S9 Membotship f*•s 5,140 16,000 8rokera9e 264 Olhw Revenuo 3,105 Total 84,083 68.422 13
CROYDON COMMITMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 37 DECEMBER 2024 Trust¢e Expenses None of the Iru$le•81ty any r$on8 connected wilh Ih8ml r8cei¥ad any benefit or rmr*knduring the year. Employ••• The averagè monlhty number of employa•s during the y¢gr was.. 2024 2023 Numb Numb•r Total Employffl•nt co•¢$ 2024 2023 Wage5 and Jalathes 33,772 30,887 Otr p¢n$lon COSIS 743 597 There was no •rnployee whose onnual romunoraiion w?$ rnore Ih8n £60000 harltabl• •¢tlvltl•• 2024 2023 Staff ¢osl• 34,515 31,484 7. Support co•t• 2024 2023 ov•m•n¢• cos Independonl 8xgmin8r'3 fee 1,20D 1.040 Oth•r Su co Marketin9 and othèr exper¢$es 18.074 21.081 Accounl8n¢y fees 1.140 1,140 Total 20.414 23,261 14
CROYDON COMMITMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Fl¥¢d a$••t Inv•$tm¢nt$ Unlistod Investm•nt Cost or valuatlon Al 1 January 2024 100 C•rrylng afflount Al 310ecernber 2024 10 Al 3108cember 2023 100 D•b¢gr• 2024 2023 Amwnt$ fallin9 due witttln one year.. Trade debtor$ Pr?paymenls and o¢¢rugd Income 19,140 488 19,140 488 10 D•l•rr•d In¢om• 2024 2023 Arfskng from Grant income 24.362 Del•rrod Incom• is includ8d In th• finAndal $18lem6nl9 8$ tollows.. 2024 2023 Delerred inccvne is included wllhin.. Current IiabilitlOS Movements in the year.. Oeferred incorne 811 January 2024 Rèl•asèd from pr•viou$ period$ Resources deferred In the year Dèforred Income al 31 De¢embor 2024 20.018 120,0181 18000 116.0001 24.382 20,018 15-
CROYDON COMMITMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 11 R•tirem•nt ben•llt schern•$ Defin8d contribution schernes 2024 2023 Chargo lo profil or loss In rtrsp8cI gf defined conlrlbulion sch&mos 743 S97 12 ¢r•dl¢or$ •mounts falllng du• wlthln on• y••r 2024 2023 Not•5 Other lax91n and social Socurlty 1.516 Oefeired Incorne 10 24,362 20.018 Trade credrtor$ 481 Amouni due lo group un¢ert8klngs 100 100 other cr•dilor$ 183 118 Accruals 3,380 2.180 30.002 23.527 13 Vnre•trl¢t•d fvndl Th• unréslri¢led ILtnd$ of the ch8rty comprisa the unexpend•d ba18nces of donations and graftts which are not subject lo sp8¢ific tonditions by donors and granlers as lo how they may b¢ used. These Include designated lund$ which have been set aside out of unre51ricted funds by the tru$leo$ lor 5pecrfic purposes. Atl January 2024 Incomlng re•ouK•• R•$ouf¢ •xp•nd•d 31it D•c•mb•r 2024 G¢noral funds 54 929 Pr•vlou• y•ar'. January 2023 Incomlng r•8our¢•8 R•sourc•i •xp•ndo 31st D•c•mb•r 2023 Gen8rn1 funds 63.548 68,480 54.745 16.
CROYDON COMMITMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER 2024 14 R•lated party lrnns&tions ICwYnu•dl Included in credhors is an amount of £10012023." £1001 owed tocroydon Cornmilmènt Evenis Lld, a subshliary ol the company. Included in stspport cosls are amount$ paid lo White L8bel Publishing Lt¥. a ccrnpany COnned lo K Glass of £67212023..90281 for Marketing 5UPPOrt seNi¢e$ and IT & Sofhare and Sub5cripllon. 17-