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2024-07-31-accounts

CRESCENT Purchasing Consortium ANNUAL REPORT 2023/24 'k¥}IljE[

(From left to right: Viviana Di Miceli - Graphic Designer, Rachel Burley - Content Designer, and Ellie Griffiths - Event Coordinator)

Contents

Contents
Introducton
Chair of the Charity Report
Vision, Mission, Charity Objectves, History and Values		 4
6
Meet our Board of Trustees 8
Meet our Group Leadership Team 10
Governance 12
Department Reviews
Financial Review & Details 16
Communicatons & Engagement 24
Regional Procurement Advisory Services 28
Our People & Culture 30
Crescent Learning 32
Crescent Frameworks 34
Crescent Consultancy 38
On Demand 40
Crescent Services 42
Conclusions
Partnerships 44
Managing Director Closing Comments 46

As the Chair of Trustees, it is my pleasure to present the charity’s annual report for the year 2023/24. I hope you find the report an informative read, providing you with a detailed overview of the charity’s activities and confidence that the charity is being responsible with the funds we use to deliver the objectives for our members.

Vision and Mission

The year 2023/24 was the second year of our current 5-year strategic plan and contained within this report is a strategic update of the progress we are making towards delivering our mission and achieving our vision statement, both of which are shown below.

Key Activities and Achievements

The charity is consistently looking to improve the way in which we work and the services we provide to the members who choose to utilise our offering.

In April 2024 we transferred 42 employees into the charity from the wholly owned subsidiary company Tenet Education Services. This formed part of a year-long consolidation project to operate under one single brand, that being Crescent Purchasing Consortium (CPC).

I wish to thank the leadership team for the smooth transition and to thank the affected employees, all of whom were fully supportive of the strategic decision.

Further investment into the charity’s workforce came in the form of a comprehensive Employee Assistance Programme and other health benefits which affirm the charity’s value of being people oriented.

The charity ended the year with a membership of 10,098, an increase of 473 members from the previous year. As always, our aspiration is to reach out to more educational establishments and in the year, we have been successful in increasing the levels of engagement with both existing customers and new.

The range of procurement services have continued to provide significant value for money through frameworks, a procurement managed service, and on-demand tendering services. The charity achieved £6m of income for the first time in the year, with yearend surplus before pension costs of £1.1m. This is an increase of £498k on the previous year. The charity’s portfolio of frameworks & dynamic purchasing systems continued to be a popular choice for our members with £433m being channelled through them over the year.

The charity is extremely proud of the £1.5m designated for reinvestment into the education sector since 2019, with £231,366 grants, all spent in 2023/24 on various projects and all of which were focused on enhancing teaching and learning. At the inaugural CPC Supplier Excellence Awards which took place in July, the charity announced our new commitment to supporting members with their individual projects focused on SEND, wellbeing and absenteeism. The positive response we have received from members and suppliers has confirmed our decision is the right one, and we look forward to distributing more grant funding early in 2025. Advancing education is a charity objective and we were pleased to fund 33 training courses and deliver 75 webinars that benefitted 108 members.

Governance and Management

2023/24 saw some changes to the charity’s Board of Trustees. Three long-term trustees stepped down and were replaced with four new trustees. I wish to thank David Pullein, Joanne Bentley and Noel Cassidy for the many years of support they have provided to the charity, overseeing many changes during their tenure all of which have assisted in making the charity what it is today. I also want to publicly welcome Simon Jacobs, Aimee Williams, Lydia Sparrow and David Thornton, all of whom have different skills which will add to those already held by trustees. I am looking forward to working alongside each trustee in the forthcoming year.

Future Plans

Within the Key Achievements section, I started by saying that the charity is continually looking to improve our services and to support this desire we start 2024/25 with a set of new growth plans for all frontline business streams. A new grant funding window to open in early January 2025, focusing on supporting learners with Special Educational Needs and Disabilities (SEND), physical and mental wellbeing, and absenteeism, which is much needed across all areas of the education sector, and we are proud to commit all future grant funding to be used on these important subjects.

Conclusion

The Trustees are confident in the charity’s ability to continue delivering outstanding procurement services and supporting the education sector. The financial strength and strategic initiatives position CPC well for future growth and impact.

Andrew Comyn

CHAIR OF THE CHARITY

ANNUAL REPORT 2023-24 | 5

Our Vision

PEOPLE ORIENTED

The vision of the charity is to be the procurement services partner of choice for the education sector and through our work, help the sector to enhance teaching and learning.

Our greatest strength is our people. They are at the heart of all that we do. We provide a caring environment that focuses on individual needs so that our people play an active role in developing the charitable objectives of CPC.

Our Mission

The mission of the charity is to provide outstanding procurement services to members and clients.

Our Objectives

Our objectives are to promote the efficiency and effectiveness of charities and the effective use of charitable resources for the benefit of the public by:

History of the Group

Crescent Purchasing Consortium (CPC) is a registered charity, notfor-profit, public sector buying authority.

On April 2nd, 2024, CPC merged with its subsidiary brands CPL Group and Tenet Education Services under one united single brand and are now known solely as Crescent Purchasing Consortium

SUPPORTIVE

Supporting our staff and customers is important to us. We listen to customer views and staff ideas and work together to provide an exceptional service. We heavily invest in the principles of training for all, sharing knowledge and guidance.

COLLABORATIVE

Working together achieves more. We share best practice and knowledge through teamwork and strive to develop innovative approaches through strong partnerships.

PROFESSIONAL

CUSTOMER FOCUSED

Everything we do is for the benefit of our customers. We are 100% committed to delivering the highest-quality service and support that exceeds expectations.

ANNUAL REPORT 2023-24 | 7

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Meet our Board of Trustees
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ANDREW COMYN
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LAWRENCE JENKINS Deputy Chief Executive, North Kent College

PETER KANE Head of Estates and FM, Belfast Metropolitan College

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Deputy Chief Executive
& Chief Financial Officer,
Nottingham College
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Lawrence is a member of the Chartered Institute of Global Management Accountants and has worked in Further Education for the past 20 years. He has significant experience in financial and change management, as well as building and resource development. Lawrence has also worked in a number of other sectors, including time at the National Trust, the NHS and in media and advertising.

Andrew is an experienced commercial strategic finance and business advisor, possessing particular expertise within the professional services sector. His specialities span commercial finance (including M&A and funding), restructuring, insolvency operations, credit control and the legal sector.

Peter possesses over 23 years’ experience in Project and Assets Management across both the social housing and education sectors. His responsibilities include delivery of the college asset management strategy, plus contract management of the college’s PFI/PPP contracts and overall estate operations, including health and safety/ sustainability.

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DAVID THORNTON
Founder & MD, Thornton &
Lowe
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SIMON JACOBS
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NOEL CASSIDY Procurement Manager at Cambridge Regional College

Freelance Marketing Consultant, Professional Weirdos

Noel brings 32 years’ experience of procurement, accumulated from his time spent working with the NHS, as well as within the education and private sectors. He has spent 15 years in procurement in the realm of Further Education and, as well as developing a personal passion for procurement itself, Noel is actively involved in mentoring, developing and sharing good procurement practice. Noel resigned on the 1st June 2024.

With a background in procurement, managing and evaluating housing bids, Dave started working with public sector suppliers in 2009, which led to the formation of Thornton & Lowe. Over the years both the team and services offered by Thornton & Lowe have grown significantly, but the focus is still driving innovation, quality and social value across the supply chain. Dave has a particular interest in data analysis and performance management. David joined the CPC on the 1st May 2024.

Simon is an entrepreneur and founded his own executive marketing business when he was studying marketing at university. Simon now runs his own business that is focused on bridging the gap between creativity and corporate culture. Simon joined the CPC on the 1st May 2024.

FATIMA BENSIHEM Finance & Procurement Officer, College of West Anglia

Fatima is the Board Sponsor for GDPR and adds her experience as a sales ledger, purchase ledger and general ledger, working with credit control, management accounts, procurement and insurance, as well as line managing the operational side of a business, with skills in computerised accounts.

JO BENTLEY Executive Director of Finance, Estates & Risk at Hopwood Hall College

Jo has worked at Hopwood Hall College & University Centre for the past six years, initially arriving as Head of Finance. For the last four years, she has served as Executive Director of Finance, Estates & Risk for Hopwood Hall, where she is a senior postholder. Jo started her career as a graduate trainee accountant in local government, gaining experience in internal audit and accounting departments. Jo resigned on the 12th July 2024.

AIMEE WILLIAMS Director of School Improvement, Three Spires Trust

With more than 12 years’ experience in education, Aimee has developed a robust knowledge and understanding of teaching and learning, supporting a number of schools both within the Trust and across the county to transform their educational experiences. As teaching and learning lead for 6 years, Aimee vehemently believes schools are the engine of social mobility; providing transformational educational opportunities which will prepare students for future endeavours. Aimee joined the CPC on the 1st May 2024.

DAVID PULLEIN Vice Principal at Leeds College of Building, Finance & Resources

David is passionate about the education sector, a passion reflected by the longevity of his working contributions, spanning almost four full decades. To date, David has accrued more than 38 years of educational finance experience, with 33 of those spent within the sphere of Further Education. David resigned on the 12th July 2024.

LYDIA SPARROW Coach & Consultant, Coach Mentoring Ltd

Lydia has spent 18 years in the international development and humanitarian sector, leading operational teams, projects and funding both in the UK and across the world. Through this work she has developed a passion in working for social purpose, and using her experience to help both organisations and individuals explore their challenges. Lydia joined the CPC on the 1st May 2024.

ANNUAL REPORT 2023-24 | 9

DARREN LOWE

Managing Director

Darren is responsible for the strategic direction of Crescent Purchasing Consortium. He is an experienced Managing Director leading a nationwide team of procurement specialists and has over 30 years’ experience in finance and procurement disciplines within the Further Education and private sector.

RANA HOLLAND

Head of Communications & Engagement

Rana joined CPC in October 2021 as the Head of Communications & Engagement following a 28-year career in the Housing sector. A fellow of the Chartered Institute of Public Relations (CIPR) Rana has particular expertise in sectors that are highly regulated and complex whilst dealing with multiple stakeholders.

DAVE OWEN

RACHEL TURNER

Head of Procurement (North)

Financial Controller

Dave is a qualified and customer focused Rachel is a highly accomplished MCIPS, management accountant with 17 years chartered procurement and supply of experience working in large finance professional with 18 years of public departments. Dave joined CPC from the procurement experience acquired in the NHS Housing sector where he had demonstrated and Education sector. a track record in managing and developing a management accounts team within a constantly evolving company.

RAYMOND WIFFEN

Head of Procurement (South)

Ray is a procurement professional with 31 years’ experience within Education and the NHS sectors. With a wealth of experience, expertise and knowledge of Public Contracting and procurement legislation, Ray leads by example, and provides to our organisation extensive understanding of the Public Contract Regulations.

ANNUAL REPORT 2023-24 | 11

(From left to right: Dave Owen - Financial Controller, Darren Lowe - Managing Director, Raymond Wiffen - Head of Procurement, Rachel Turner - Head of Procurement, Rana Holland - Head of Communications and Engagement)

The Role of the Board

The Board of Directors are responsible for providing direction and overseeing the governance of the charity. The Directors of the charity are known as Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees. The duties of the Board are delivered within scheduled Board meetings which allow for constructive debate and challenge, provide independent external perspective and contribute a broad range of experience and expertise.

The Board has core responsibilities including setting the charity’s strategic direction, overseeing the delivery of the strategy, and managing risk. All matters below the financial limit set by the Board are delegated to the Group Leadership Team. The Board Trustees operate on an open and constructive debate basis.

Role of the Chair

The Chair leads the Board and ensures it operates effectively, whilst maintaining a culture of openness and debate, ensuring effective dialogue between the Board and its members.

The term of the Chair shall be three consecutive years after which they can offer themselves up for re-election. A voting process will be undertaken by the Board to elect the next Chair. The Chair reviews the composition of the Board and will assess whether the balance of skills, experience and knowledge is appropriate to enable them to operate effectively.

Role of the Managing Director

Day-to-day management of the CPC and implementation of strategy.

Board Meetings

The Board agenda is agreed by the Chair, in conjunction with the Managing Director. Each scheduled meeting includes an update from the various areas of the charity, along with financial reports and update reports from committees. Discussions on strategic proposals, legal and governance matters are also covered. The Board has a strong focus on financial performance, risk management, data protection, health, safety and wellbeing and sustainability.

Division of Responsibilities

There is a clear division of responsibilities between the Chair (who is responsible for the leadership and effectiveness of the Board) and the Managing Director (who is responsible for managing the charity’s business). The Board has delegated authority for the day-to-day management of the CPC to the Managing Director, with specific areas of business being managed by the other members of the Group Leadership Team. The Group Leadership Team are involved in, or aware of, all major activities and are therefore extremely well placed to ensure that all decisions align with the charity’s agreed strategy. The Group Leadership Team are given delegated authority from the Board to make decisions within specific parameters. Decision outside of these parameters are reserved for the Board, although the Group Leadership Team are encouraged to bring decisions and/or proposals within their delegated authority to the Board for scrutiny and challenge.

Conflict of Interest

Trustees are required to avoid situations in which they have, or can have, a direct or indirect conflict with the interests of the charity. The charity has a procedure to record new outside interests and actual or perceived conflicts of interest that may affect them in their roles as Directors and Trustees of the CPC.

ANNUAL REPORT 2023-24 | 13

Director and Trustees

The Trustees serving during the year were as follows:

Nominated Chair Andy J Comyn, Deputy Chief Executive & Chief Financial Officer, Nottingham College Governance

Fatima Bensihem, Finance and Procurement Officer, College of West Anglia

Lawrence Jenkins, Deputy Chief Executive, North Kent College

GLT are responsible for:

Sub-Committees of the Board

Giving Back Group

Peter Kane, Head of Estates and FM, Belfast Metropolitan College (co-opted with voting rights)

Aimee Williams, Director of School Improvement, Three Spires Trust

Lydia Sparrow, Coach & Consultant, Coach Mentoring Ltd

David Thornton, Founder & MD, Thornton & Lowe

Simon Jacobs, Freelance Marketing Consultant, Professional Weirdos

Role of the Group Leadership Team (GLT)

The GLT is responsible for the ongoing management of CPC. It considers the day-to-day operational matters for running the charity and reviews performance of the CPC, in line with the strategic plan. The GLT meet on a monthly basis and the meeting is chaired by the Managing Director, who then reports to the Board and is responsible for the development and implementation of the strategy.

With Trustee representation, the Group advises on the appropriate distribution of free reserves held by the CPC.

Employment and Finance Committee

In July 2024, the Board of Trustees approved the formation of an Employment and Finance Committee (EFC) which meets three times a year. Its remit is to review and evidence that operational controls are effective. The EFC comprises of three trustees, two of whom are accountants and one a HR consultant, along with the managing director and financial controller.

Procurement Advisory Group (PAG)

Represented by National and Regional Groups. Each group consists of representation from member organisations. Chairs from each regional group form the national group and cascade information to regional meetings.

(Darren Lowe, CPC Managing Director)

ANNUAL REPORT 2023-24 | 15

Another record-breaking year.

Income over £6 million for the first time – operating surplus over £1 million.

determined by the actuary in 2022. In accordance with applicable accounting standards, the asset value has been deemed to be unrecognisable on the basis that the company has no expectation of reduced future employer contributions at some point during the life of the plan.

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INCOME
OVER
£6 MILLION
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Income from all business streams achieved their best ever results:

Framework income: £3.2 million Managed service income: £1.5 million On-demand tenders and consultancy income: £0.7 million

Total spend reported through the frameworks exceeded £433 million (2023: £441 million) providing real value for money for CPC members. This is supported by a procurement managed service (which has recorded £11.3M of savings on current contract terms for 40 customers) and on-demand tendering services.

15 frameworks are currently signposted by the Department for Education (DfE).

2023/24 saw the largest investment in employees in the history of the charity led by the final elements of the harmonisation of terms, conditions and benefits for employees working in the subsidiary companies. In April 2024, all Tenet Education Services Limited employees were transferred under TUPE regulations into CPC. This coincided with a major rebrand of the charity and launch of a new website.

The charity participates in the West Yorkshire Pension Fund (WYPF) with employees having the option of participating in the NEST pension scheme.

The WYPF pension scheme value on 31 July 2024 continues to show the company as having a pension asset. This has increased to £1,293,000 (2023: £790,000) and follows on from asset value

The Trustees are committed to ensuring that any excess surpluses are reinvested into the education sector. Since 2019 over £1.5Million has been identified as Designated and Restricted Funds for the purpose of reinvestment. £813,415 had been expended prior to the financial year with a further £231,366 spent during 23/24.

Re-investment into the education sector takes the form of several projects with the grant funding to sponsor student events/ activities generating particular interest. The first round of grant funding during 2019/20 saw £259k awarded to 33 institutions.

The national lockdowns during the global pandemic meant that no further funding was possible though, with the easing of restrictions, a second funding “window” was opened in May 2021. The result of the second round was £288k awarded to 68 institutions which was paid during 2021/22.

During this financial year a third grant funding window was opened with £201k paid to 33 institutions. The grants awarded are having an amazing impact on learners and enabling institutions to utilise their own resources elsewhere.

This year the focus on future reinvestment was defined more clearly and is covered in more detail later.

MANAGED PROCUREMENT RECORDED £11.3M OF SAVINGS (David Owen, Financial Controller)

ANNUAL REPORT 2023-24 | 17

Consolidated Balance Sheet

Extracts from the 2023/24 Financial Statements CPC

Consolidated Statement of Financial Activities including income and expenditure account.

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Group Group Charity Charity
2024 2023 2024 2023
£ £ £ £
Income from: 12,182 500 43,778 19,068
Donations and legacies 5,834,220 5,127,590 3,727,166 3,214,309
Charitable activities 190,359 76,660 183,435 56,787
Investment _ _ _ _
6,036,761 5,204,750 3,954,379 3,290,164
Total income
_ _ _ _
Expenditure on: 4,916,550 4,582,425 2,740,743 2,552,664
Charitable activities _ _ _ _
Net income for the year/
1,120,211 622,325 1,213,636 737,500
Net incoming resources
(784,000) 496,000 (784,000) 496,000
Other recognised gains and losses
_ _ _ _
Actuarial (loss) gain on defined benefit pension schemes
Net movement in funds 366,211 1,118,325 429,636 1,233,500
6,848,047 5,729,722 7,685,065 6,451,565
Fund balances at 1 August 2023
_ _ _ _
7,184,258 6,848,047 8,114,701 7,685,065
Fund balances at 31 July 2024
_ _ _ _
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Group Group Charity Charity
2024 2023 2024 2023
£ £ £ £
Fixed assets
-
- -
115,000
Goodwill 42,590
27,480 42,590 27,480
Intangible assets 26,110
24,907 36,936 13,995
Tangible assets - - 1,377,962
1,377,962
Investments
_ _ _ _
52,387 194,526 1,419,437 1,446,662
Current assets 1,249,822 1,007,680 916,885 779,331
Debtors 6,762,682 5,673,306 6,492,782 5,191,669
Cash at bank and in hand _ _ _ _
8,012,504 6,680,986 7,409,667 5,971,000
Creditors: amounts falling due (880,633) (817,465) (714,403) (522,597)
within one year _ _ _ _
Net current assets 7,131,871 5,863,521 6,695,264 5,448,403
Net assets excluding pension 7,184,258 6,058,047 8,114,701 6,895,065
liability _ _ _ _
- -
Defined benefit pension surplus / 790,000 790,000
provision for liabilities _ _ _ _
7,184,258 6,848,047 8,114,701 7,685,065
Net assets
_ _ _ _
Income funds
Unrestricted funds – designated 520,993 347,387 520,993 347,387
Unrestricted funds – general 6,655,555 5,710,160 7,585,998 6,547,178
- -
Unrestricted funds – pension 790,000 790,000
Restricted Funds – ‘Giving Back’ 7,710 500 7,710 500
_ _ _ _
7,184,258 6,848,047 8,114,701 7,685,065
_ _ _ _
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ANNUAL REPORT 2023-24 | 19

Looking ahead

CPC intends to continue its growth over the coming years in line with the 5-year strategy launched in 2022. New growth plans for all frontline business streams have been developed.

A new detailed and robust development training package for the company’s procurement professionals and all managers was launched in autumn 2024. This follows the charity’s “Grow Your Own” ethos which is aimed at ensuring CPC retains and recruits the best talent.

The Articles of Association have been reviewed to ensure they accurately reflect the work the charity is currently doing and its growth ambitions. A revised set were scheduled be presented to voting members at the AGM in December 2024 for approval. This also included an added charitable objective to include the increasing focus on ‘Giving Back’.

Reserves policy

CPC maintains a reserves policy that is available on our website. This sets out the level of reserves to be held by the company and the reasons why. Designated and Restricted reserves are those reserves that the Board of Trustees have approved for the purpose of ‘Giving Back’ to the education sector.

Post balance sheet events

Tenet Education Services Limited, a wholly owned subsidiary of CPC merged into the parent company following the financial year end audit.

Employees transferred into the charity on 1 April 2024. Tenet Procurement Services will continue trading as a subsidiary of CPC though with effect from 2 August 2024 will be renamed to

Crescent Services (TPS) Limited. These changes will not have a significant effect on the charity’s financial position.

Giving Back

The management and distribution of restricted and designated reserves to member institutions in the form of grants is led by the ‘Giving Back’ Group who ensure that three main criteria are met. These have recently been changed as detailed below.

£201k of grant funding was distributed during the year with further funding commissioned for 2024/25. Feedback from institutions that have received funding has been extremely positive and demonstrates the direct social impact CPC is having on the lives of young learners.

In July 2024 CPC held its first Supplier Excellence Awards Night at the Hilton Hotel in Manchester. This was to celebrate the achievements of framework suppliers in supporting the education sector over the year and to involve suppliers in the charity’s revised focus of supporting SEND, wellbeing and absenteeism for its members.

The event was a success with £7,595 of donations being received for ‘Giving Back’ as well as several leads being generated from suppliers and attendees for increased support toward the new SEND, wellbeing and absenteeism initiative on a longer-term basis. The aim is to make this an annual event. A new grant funding window to open in January 2025. Previously grants have funded a variety of projects and events aimed at:

The focus of future grants and the daily operational activities of the charity will now be on supporting our members in their quest to adequately help and support the following:

The Board of Trustees, senior management and employees fully support this focus and the positive impact CPC will have on people’s lives.

The Trustees and CPC employees are proud of the contribution they make to these causes.

The financial strength of CPC ensures it can absorb any continued impact from the cost-of-living crisis and with no long-term liabilities (loans) CPC is not negatively impacted by rises in interest rates.

To celebrate CPC reaching its 10,000th member landmark the Trustees approved £10,000 being designated from reserves to contribute towards a procurement training related initiative which will be made available to CPC members to bid for.

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£201K
OF GRANT
FUNDING WAS
DISTRIBUTED
DURING THE YEAR
£7,595 OF
DONATIONS
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ANNUAL REPORT 2023-24 | 21

Health, Safety & Wellbeing

The Trustees are aware of their responsibilities on all matters relating to health and safety. The charity has a dedicated health, safety and wellness lead who prepared the current health, safety and employee wellbeing strategy. A Board sponsor oversees the work that is carried out in relation to this.

The aim of this strategy is to develop a positive health, safety and wellbeing culture with coherent policies and procedures that are compliant with all appropriate health and safety standards. Further details are provided in this report under Risk Management and Compliance checks.

In February 2024 CPC was awarded its first ISO accreditation, ISO 45001 (Occupational Health & Safety Management). This achieved one of the main business aims within the 2022-27 Business Plan.

Further and sustained investment in employee wellbeing is a priority, with the majority of the workforce working remotely. The actions specified in the Health & Safety strategy have been completed. A Wellness Plan has been developed and awaits approval. Eight employees have been trained as mental health first aiders. A new Men’s group was started in the year to run alongside the Women’s group formed last year and has been warmly received by participants.

Workshops are currently in progress with all employees to collate thoughts and suggestions prior to the development and implementation of an Employee Value Proposition (EVP).

Several workshops, posted articles and tips were delivered throughout the year covering topics requested by employees such as: Work Life Balance, Menopause, Women and Men’s Health and Neurodiversity. Weekly online office chair yoga sessions

and seasonal coffee and connections have been particularly well received.

CPC is proud to maintain its Top 100 Great Place to Work for Wellbeing accreditation for another year with 99% of employees feeling that CPC is a physically safe place to work, 87% of employees feeling that CPC is a psychologically and emotionally safe place to work and 91% feeling that CPC encourages work-life balance. The new Wellness Plan aims to improve these results.

Employee wellbeing is at the forefront of the charity’s values with new investment in a comprehensive Employee Assistance Programme (EAP) to support mental health alongside other health and medical benefits.

Social Impact

The charity’s social impact from “Giving Back” can be easily measured with the results available on the CPC website. Measuring the impact from the day-to-day operational activities is more challenging and 2024/25 will see progress being made to address this with the results published on the website. The impact will focus on the charity’s main stakeholders:

CPC continues its agile working policy which allows employees to choose their place of work within any customer contractual boundaries. This has had a positive effect on both productivity and employee wellbeing. The company head office in Salford remains partially occupied and is predominately used as a hub for collaborative working with teams across the company. CPC was very pleased to maintain its “Great Place to Work”

accreditation for its fourth year which runs alongside its current accreditations for “Top 100 Great Place to Work for Women”, “Top 100 Great Place to Work for Wellbeing” and “Great Place to Work – UK’s Best Workplace”. It also gained accreditation for UK’s Best Workplace for Development and UK’s Best Workplace for Charities and Not for Profit Organisations.

The 5-year business plan supports the Charity’s “Grow Your Own” ethos by incorporating the recruitment of local graduates into planned positions across several areas of the business.

Sustainability Matters

At the start of 2022 a Sustainability Working Group was established with employee volunteers from across CPC. This is chaired by a member of the Group Leadership Team (GLT) and has a Board sponsor. The aim of the group is to ensure the objectives set out in the 5-year strategy are achieved, not least setting out and completing the detailed plan to achieve ISO14001 – Environmental Management accreditation. Progress is reported at each monthly GLT meeting and at each Board meeting.

In 2022/23 an Environment Management System (EMS) template and the charity’s first Environmental and Sustainability Policy was produced. This year the focus has been to embed the objectives and key actions set out in the policy as well as introducing processes to collate and record the charity’s carbon emissions and calculate its carbon footprint.

During 2024/25 a Carbon Management Plan (CMP) will be created to manage and ultimately reduce the footprint over the next five years. This will be published on the website.

Business travel across the organisation is forecast to reduce yearon-year as management encourage more efficient and effective means of consulting with customers, in particular the Regional

Procurement Advisors meetings with members which are, in the main held virtually.

A hybrid working model means that employees based at the Head Office in Salford are only expected to work onsite for two days per week and can work from home for the remainder. Some managed service contract customers are willing for CPC employees to work on a hybrid basis to reflect their own working practices.

This year £1,000 was donated to City of Trees, a charity which plant trees and restore woods and green spaces in the Greater Manchester area. Each year, a similar type of charity in a different part of the country will be chosen to receive a similar donation.

CPC has committed to making available one day per year for employees to volunteer their time to local good causes. During the year employees took part in various activities including:

(Brandon Cox, volunteering at Ladybarn Park during CPC Summer event 2024)

ANNUAL REPORT 2023-24 | 23

The Communication and Engagement teams have successfully completed several key milestone projects to support the organisation’s harmonisation of brands by successfully streamlining and harmonising our portfolio of services for members, suppliers and key stakeholders.

On April the 2nd we saw the consolidation of brands CPL Group, Crescent Purchasing Consortium and Tenet Education Services harmonised into one united single brand, solely being known as ‘Crescent Purchasing Consortium’ (CPC), with the physical consolidation of functions and assets taking place on the 1st of August 2024.

The harmonisation of brands will build on the existing strengths of each organisation as we continue to evolve an already impressive portfolio of services, whilst eradicating any brand confusion for our members, suppliers and wider stakeholders.

We also saw the rebrand of Tenet Procurement Services, which provides procurement frameworks and consultancy services for the wider public sector harmonised under the Crescent brand now known as ‘Crescent Services’.

The rebrand coincided with the 25th anniversary of CPC being established and not only did we unveil our fresh new brand but we also launched our new harmonised website. The new website is providing our members with a one stop procurement shop for all their day-to-day buying, consultancy, and training needs.

On the back of the website going live, a penetration test was conducted which saw only two vulnerabilities, which is a testament to the successes of the build. Penetration testing is a core business tool for analysing the security of our IT systems and to ensure that our security controls are assessed and configured in accordance with best practice.

Our new single brand website will continue to play a key role in supporting our members and suppliers with all their procurement and reporting needs whilst having the additional benefits of accessing our FREE ‘Crescent Learning’ platform and ‘Giving Back’

funding. Our new website will stand the CPC in good stead for many years to come with positive feedback being received from our members and suppliers who utilise the website on a daily basis.

In our ongoing commitment to protect our data and systems we successfully attained Cyber Essentials Plus certification to reassure our members and suppliers that we continue to work to secure our IT against cyber-attack.

----- Start of picture text -----
SINGLE BRAND
WEBSITE
PROVIDING
A ONE STOP
PROCUREMENT
SHOP
WE HAVE ACHIEVED
CYBER ESSENTIALS
PLUS CERTIFICATION
FOR THE THIRD
YEAR RUNNING
(Rana Holland, Head of Communications and Engagement)
----- End of picture text -----

ANNUAL REPORT 2023-24 | 25

Supplier Excellence Awards

In July 2024, CPC saw its first ‘Supplier Excellence Awards’ unveiled, where we took the opportunity to celebrate the outstanding performance, innovation, and collaboration of our valued suppliers across our supply chain whilst dedicating the evening to our ‘Giving Back’ initiative.

As a procurement charity, we are committed to building longterm, mutually beneficial relationships with our suppliers across our impressive supply chain of 1,000+ suppliers.

We were proud to recognise suppliers who have driven quality, innovation, service, competitiveness, diversity and equality through incredible collaboration and leadership for our member community, whilst considering their social and sustainable impact as organisations.

Suppliers are critical to CPC’s operational and strategic delivery and play an integral part in our vision of being the procurement partner of choice for the education sector and, through our work, helping the sector enhance teaching and learning. In the past year alone £433m has passed through our supply chain which places us as one of the leading consortia in the UK.

Every year we will come together to recognise an elite group of outstanding suppliers whose performance has consistently exceeded our educational community expectations, the awards will serve as an enabler for suppliers to commit to continuous improvement whilst fostering strong partnerships.

Find out more at cpcexcellenceawards.co.uk

ANNUAL REPORT 2023-24 | 27

2023/24 was a year of incredible engagement and growth in visibility for CPC, and this was and a huge part of this was down to the Regional Procurement Advisory (RPA) team and the support received from colleagues around the group.

The first major success of this year was the introduction of the ‘PAG Presents’ webinar series. Acknowledging the need for a more proactive approach to engagement, we believed there was an opportunity in this digital age to have a virtual webinar series that we could utilise to share best practice, advice and guidance.

‘PAG Presents’ is a spin-off of the successful Procurement Advisory Group (PAG) we run on a regional basis and with 7 webinars to date with different topics, 519 registrations, and 5 different guest speakers, it has been everything we wanted the webinar series to be and more.

In relation to the regional PAG meetings, there were 17 of these over the course of the year, with one of these being a special summer edition giving members an overview of the Procurement Act and what they need to do to be ready for the changes ahead.

We have a plethora of webinars in the pipeline going into the next academic year, and we envisage ‘PAG Presents’ and its sister ‘Added Value’ streams will grow from strength to strength.

It has been extremely encouraging to also see the growth of the CPC Communicator. This year we have utilised it as a tool for engagement through sharing our events and encouraging our members to use it to gain insight into how other members do their procurement. We have seen a huge increase of usages and an increase in members signed up to use it. This year we saw 196 usages, which was 41 more than last year!

This year we also welcomed two new RPA’s to the team in the form of Olamide Ojuri, who looks after the London and South East

regions, and Roshni Popat who has taken on East Anglia, South West and Wales, with Daniel Kinder now looking after Yorkshire and the Midlands. So far these changes have been widely acclaimed by our members and the group as a whole.

The team facilitated 517 individual appointments with members over the course of the year, and we attended various events including the Schools and Academies Show, Schools North East and Procurex. This growth in engagements has meant that we have absolutely smashed through the KPI given to us at the start of the year.

----- Start of picture text -----
517 INDIVIDUAL
APPOINTMENTS
WITH MEMBERS
----- End of picture text -----

----- Start of picture text -----
196
USAGES
OF CPC
COMMUNICATOR
----- End of picture text -----

----- Start of picture text -----
FREE UK-WIDE
PROCUREMENT
ADVISORY
----- End of picture text -----

----- Start of picture text -----
SERVICE
----- End of picture text -----

----- Start of picture text -----
JACK HORTON
Customer Engagement Manager
----- End of picture text -----

TRACEY HINDMARSH Regional Procurement Advisor (North East & North Yorkshire)

LOUISE ASHCROFT Regional Procurement Advisor (North West)

OLAMIDE OJURI Regional Procurement Advisor (London & South East)

----- Start of picture text -----
DANIEL KINDER
Regional Procurement Advisor
(Midlands, Yorkshire & Humberside)
----- End of picture text -----

----- Start of picture text -----
ROSHNI POPAT
Regional Procurement Advisor
(East, Wales & South West)
----- End of picture text -----

(Jack Horton, Customer Engagement Manager)

ANNUAL REPORT 2023-24 | 29

The charity’s values start with People Oriented because our people are our product. It is imperative to us that we support and develop them to become the very best they can be, because the simple fact is we become better as a result. The remaining values of being supportive, collaborative and professional ensure we achieve our fifth and final value of customer focused.

2023/24 was one of the most challenging labour market environments we have operated in. The year of the ‘Great Resignation’ with a National labour market turnover rate of 22.5%, high rates of inflation, increases in the average pay growth which resulted in a war of talent.

Here are just a few of the team’s highlights for the year:

  1. Ranked 80th Best Workplaces (medium sized companies) - March 2024

  2. Cycle to work scheme launched – May 2024

  3. Fourth consecutive year as a certified Great Place to Work – May 2024

  4. Ranked 56th Best (medium sized) Workplaces for Development - May 2024

  5. Best Workplaces for Wellbeing - June 2024

  6. Absence levels below the national average.

  7. Robust monitoring of reasons for absence so we can support employees better and react to emerging trends.

  8. Commencement of a training programme for the Management Team to provide them with the tools and knowledge to be confident in their role and support others.

  9. Continuous promotion of the charity’s wellbeing options which include the Employee Assistance Programme, a team of mental health first aiders, occupational health and access to work.

  10. Supporting employees with managing a work/life balance by providing training of effective homeworking and

wellbeing.

  1. A staggering reduction in labour turnover from 20.25% to 9.88%. This reflects the changes nationwide which were 22.5% and 14.4% (Source: Brightmine XpertHR) in 22/23. The charity/ not-for-profit sector average for the year was 16.4%.

  2. Exit interview feedback has been collated and reviewed to ensure we learn for the information being provided to us.

  3. We launched our first Equality, Diversity and Inclusion report and we were extremely proud of the progress we are making in that important space.

A major project completed by the People Development team, as part of a year-long plan to consolidate the charity and a subsidiary company into one single brand, Crescent Purchasing Consortium, was the transfer of employment of 42 employees from Tenet Education Services (wholly owned subsidiary company) into the charity. Part of this process required consultation meetings with all employees, including those not directly affected, and financial investment to ensure terms of employment were equal across the whole workforce. We are pleased to report that the transfers were conducted smoothly and feedback from employees has been positive.

The achievements are testament to the combined effort of the People Development team, the workforce and trustees’ contribution to making CPC an inclusive and caring workplace.

Equality, Diversity and Inclusion (EDI)

This year has been an exciting year in relation to Equality, Diversity and Inclusion (EDI), with the development and launch of our 5-year Equality, Diversity and Inclusion Strategy. The EDI Working Group have identified three areas of strategic focus and objectives that will drive our EDI action plan. We have made

an excellent start in laying the foundations of the new strategy and have begun to work through several actions. This has highlighted the importance of sharing equality monitoring data to increase knowledge and awareness, and how we need to fully understand the diverse needs of our workforce to make more informed decisions.

We know that creating a supportive culture is key in our approach to EDI activity, which is why, this year, we have created the Men’s and Women’s Support Networks, and we have plans to set up a Carers Support Network shortly. We have been accredited with the Disability Confident Employer and we have implemented more flexible and inclusive ways of working through our Hybrid and Flexible Working processes and Family Friendly policy.

Figures from our recent employee survey suggests that CPC is doing a great job in being inclusive, however we still have a considerable way to go to meet the objectives of our 5-year EDI strategy. However, this year we have demonstrated positive progress and have clearly identified our areas of focus to move beyond compliance and forward in progressing our EDI agenda. For more information on our progress, we have developed an EDI annual report for 23/24 which provides a detailed report on the EDI activities undertaken within the last 12 months and includes a section on monitoring and reporting on our EDI data, which informs our people-led approach to equality and inclusion. A copy of the 2023/24 EDI annual report is available on the CPC website. We care about equality, diversity and inclusion, because it’s the right thing to do. We’ll continue to listen to our employees and welcome everyone’s feedback. We acknowledge that, while we continue to make progress, we still have work to do.

Employee Value Proposition (EVP)

EVP is what makes CPC unique. It is our offering to our employees in return for their skills, experience and commitment to the

charity. An EVP is about putting people first and aligning with the charity’s values and strategies. It helps us to attract, engage and retain talented employees. Four pillars have been identified that represents the culture of the charity:

To ensure we get EVP right, the People and Culture Advisor and the Health, Safety and Wellness Lead hosted 10 workshops covering all the departments within CPC to help identify what is important to our employees within these four pillars.

These workshops provided an opportunity for employees to voice their opinions to help identify areas which they felt could be improved and feed into our culture. Following the feedback from these workshops, the aspiration for the next 12 months is to identify the common themes and focus areas CPC can work on and implement in the next 12 months, and to develop an EVP Framework and strategy that represents our true culture.

(From left to right: Smita Chauhan, People and Culture Advisor, and Helena Fearnley-Brown, People Advisor)

ANNUAL REPORT 2023-24 | 31

CPC has a strategic objective for the period 2022-27 which is to advance procurement education and research within the sector. It continues to achieve that objective by developing our stakeholders (colleagues, members, clients, and suppliers) to be the best that they can be in this field.

Crescent Learning is the arm of the charity which delivers and supports learning and development to our stakeholders, improving their ability to succeed in their roles. During the year, this investment was cemented by the creation of a new role, Learning & Development Lead, and the appointment of Mark Pearson from within the business to bring together the various strands of this activity and to grow the capacity of CPC to deliver its charitable aim. Our ethos of ‘giving back’ to invest part of our surplus to promote good practice and enhance & improve procurement activity in the sector. This activity has been of increased significance during the year, as the wider public sector prepared for a once-in-a-generation change in procurement regulation under the Procurement Act 2023. As in previous years, this activity has been delivered by CPC at no cost to our stakeholders.

Seminars

Over the year, seminars have been delivered under the auspices of PAG Presents to reach out to our members and colleagues on issues of procurement best practice. The learning from these seminars, together with published FAQs and templates, has received positive feedback from the sector and will be built on in coming years. We have been able to bring in external support from within our wider stakeholder base, further strengthening the offer and relevance to our members and colleagues.

Supporting Umbrella Organisations

We have delivered learning sessions to other umbrella organisations including the Association of Colleges and the Department for Education, whose own membership is from within the education sector. This has raised the profile of CPC within the sector and increased requests for support from institutions, who can see the benefit of our broad range of procurement services and wish to access the knowledge and expertise that CPC possesses.

Procurement Act 2023

We continue to strive to be the sector leader in education-related public procurement and this has meant enabling and empowering our colleagues to be trained in the art of procurement under the new Act. We are proud that all procurement colleagues across our Contracting, Consultancy and Customer Engagement teams are Transforming Public Procurement Expert Practitioner certified and several have been supported to take the further step of becoming Advance Practitioner qualified, in strategic roles across our business.

We have signposted the learning that has been rolled-out from the UK Government’s Cabinet Office to all our stakeholders and encouraged their uptake of this free-to-access training and guidance support in conjunction with the Department for Education. When the Act comes into force in 2025, CPC will be fully prepared and will have enabled wider stakeholders to become equally prepared for this shift in procurement regulation.

Funded Training Courses

Where suitable, high quality, external training courses and CPD is available at a fee, we have fully funded our stakeholders to access and benefit from that training. This includes supporting colleagues

with their professional examinations on their own journeys to achieve Chartered Procurement Professional status through the Chartered Institute of Procurement & Supply (CIPS). We have also funded courses for members to access, to improve their procurement colleagues’ knowledge and technical expertise, promoting the raising of procurement standards in the sector. We are proud that our stakeholders proactively ask for this funded provision, itself demonstrating that our efforts to enhance and improve procurement activity is growing organically.

To celebrate reaching 10,000 members, the charity has provided £10,000 which has been designated for training purposes. The ambition for these funds is to fund a level 4 CIPS qualification for three employees within our membership. This will effectively start people off on their procurement career.

Self Help Networks

We continue to support education sector self-help networks and encourage our stakeholders to participate in national and regional support groups to learn from each other and as a vehicle for delivering best practice advice and tuition to those groups.

----- Start of picture text -----
Procurement
Advisory
Group
----- End of picture text -----

The Procurement Advisory Group (PAG) at both a national level and across the nine regions into which it is split. PAG has continued to benefit from our stewardship over the year with members forming support groups and looking to CPC to provide learning and development in the core functionality of procurement within the sector.

----- Start of picture text -----
£10,000
DESIGNATED FOR
TRAINING
PURPOSES
----- End of picture text -----

----- Start of picture text -----
(Mark Pearson, Learning and Development Lead,
exhibiting at Schools and Academies Show 2024)
----- End of picture text -----

ANNUAL REPORT 2023-24 | 33

The Contracting Team have delivered a good set of results for 2023/24, building on the successes detailed in last year’s report, with CPC continuing to be the chosen route to market for many educational institutions. It has been a year characterised by change and challenges, but the team have demonstrated excellent resilience and adaptability.

Framework Performance

Spend through CPC’s various frameworks has continued to impress with £433m reported for 23/24. Whilst we were slightly disappointed not to improve on last year’s figure of £441m, we understand that this drop in total spend is in part, a result of spend for a significant agreement (Utilities) being reported late for the last 2 financial quarters. Had this spend been reported on time, the total framework spend figure for the year would have been £462m, representing growth of 4.7%. However, as these figures were reported late, they will instead be rolled into the next financial year.

Whilst we have seen a slight downward trend in the number of members transacting through our agreements (1.4% less than 2022/23) and the average spend per member has decreased (0.52% less than 2022/23), we should take confidence from the fact the annual results are still above the 5 year average.

A sample of framework highlights for the year is provided below:

----- Start of picture text -----
Academic Year Total Spend Growth Total Members Growth Average Spend per Growth
Transacting Member
- - -
2018/19 £ 240,000,000.00 4,728 50,761.42
2019/20 £ 214,000,000.00 -12.15% 5,128 7.80% 41,731.67 -21.64%
2020/21 £ 244,000,000.00 12.30% 5,365 4.42% 45,479.96 8.24%
2021/22 £ 322,000,000.00 24.22% 5,903 9.11% 54,548.53 16.62%
2022/23 £ 441,000,000.00 26.98% 6,212 4.97% 70,991.63 23.16%
2023/24 £ 433,000,000.00 -1.9% 6,131 -1.4% 70,624.69 -0.52%
Fig 1. – 2018-2024 Headline CPC Framework Spend Analysis
Readers should note that this years figure is lower than last years due to the late reporting of related Utility framework spend by Dukefield
Energy for Q3 and Q4. The spend for this period has subsequently been reported at £29million. This spend will be reflected in the end of year
fgures of FY2024/25.
----- End of picture text -----

Framework Pipeline

It has been a busy year from a tendering perspective with several agreements reaching expiry and the imminent deployment of new procurement regulations under Procurement Act 2023. We were keen to accelerate certain procurements to deliver them under the existing PCR2015 regulations, as there will be no established best practice. A summary of agreements awarded in

----- Start of picture text -----
£433M SPEND
THROUGH CPC’S
FRAMEWORKS
----- End of picture text -----

----- Start of picture text -----
£112M SPEND
THROUGH
----- End of picture text -----

OUTSOURCED ICT DELIVERED A 177% INCREASE

----- Start of picture text -----
IN REVENUE
----- End of picture text -----

(Raymond Wiffen, Head of Procurement)

ANNUAL REPORT 2023-24 | 35

FY2023/24 is provided below:-

In addition, we are currently tendering new framework agreements for Insurance for Colleges & Academies, as well as Grounds Maintenance, and will be soon embarking on a tender process for the creation of a CPC-led MFD agreement. The team also received approval from the Department for Education (DfE) for several agreements from our portfolio to be signposted to the wider education sector as “Recommended Deals” including our Temporary & Permanent Staffing and Stationery & Educational Supplies frameworks.

Staffing and Structure

The team continue to use a multitude of approaches to engage and support our membership. Working with the Regional Procurement Advisory team, the Contracting Team now attends regional Procurement Advisory Group (PAG) meetings, where the focus of discussion is around providing updates on the team’s activity and more recently the looming introduction of wide ranging public procurement reform. These meetings also provide a good opportunity to undertake pre-market engagement with members prior to the launch of a tender process, they present an excellent opportunity to seek feedback on proposals and to highlight common issues in the procurement of relevant goods and services. We also regularly deliver educational content to our members via various other communication channels including webinars, case studies and newsletter articles.

During FY2023/24, the team underwent a restructure to better reflect modern approaches within the profession and the needs of our members and suppliers. The portfolio of agreements has been split into 3 workstreams: People, Product and Place. Each category workstream is supported by a Procurement Manager, Contracts Manager and Senior Procurement Officer, who work together to ensure appropriate support and resource is available to ensure the agreements within the portfolio are appropriately maintained, monitored and managed. The changes have been received positively inside and outside of the team and have resulted in high levels of collaboration within the team.

Continuous Improvement

Collaboration

As was the case last year, one of the key focus areas for the team over the last 12 months has been process and procedure improvement. This review has been far reaching and we have made significant progress in a number of key areas to ensure all processes are delivered to a consistently high standard. Projects undertaken have included:

The CPC Contracting team continue to collaborate wherever possible, working with a range of internal and external stakeholders to continue delivering best in class solutions to our members.

We continue to work in close partnership with the Department • A comprehensive review and update to our Contract for Education (DfE), meeting on a monthly basis with their senior Management Procedures. commercial leaders to discuss ongoing issues and strategic • Creation of an online Direct Award tool within our website priorities. We have also engaged with the DfE extensively to ensure the business, members and suppliers have around the “Recommended Deals” process, providing feedback full transparency and an audit trail of all direct awards to the Department on issues with their process and providing undertaken through our agreements, an increasingly common recommendations for improvement. CPC continue to grow our route to market for our members. portfolio of Department for Education recommended deals and • Ground-up redesign and rebranding of all Contracting now have 15 agreements approved for use across the education documentation including ITT’s, User Guides, etc. sector, the most of any PSBO. CPC were recently invited to • Introduction of new call-off terms and conditions for all new present at a MAT Summit hosted by the DfE at their offices framework agreements which have been simplified for ease in Manchester to provide key stakeholders with updates on of use by members. the Procurement Act, the DfE have also begun to signpost our

Procurement Act guidance webpage to all institutions within the sector.

One of the most fundamental changes in the team over the last 12 months has been the decision not to renew the contractual relationship with Dukefield Procurement. The agreement formally ended on 31st July 2024 and both parties agreed that the remaining DP managed agreements would be allowed to continue up until their expiry or up until we have replaced the agreement with a CPC led one. Additionally, we also took the difficult decision to terminate our relationship with Dukefield Energy (this agreement ended on 8th September 2024), for the provision of Energy Consultancy services to our members and subsequently appointed Sustainable Energy First to provide these services following a tender process. From our initial implementation meetings, we are assured and confident that the next iteration of the agreement will offer significantly improved outcomes for members.

(Keeley Blackburn, Procurement Manager)

ANNUAL REPORT 2023-24 | 37

Managed Service teams have tackled some interesting times in the year with the challenge of supporting their customers during budget constraints and fast changing education reforms as well as being on top of becoming more prepared for the procurement legislation changes in the form of the Procurement Act 2023.

This year has been rewarding for both the North and South regions with a great deal of praise and thanks received across our customers for achieving the savings targets and achieving excellent results. The team’s performance hasn’t gone unnoticed either from our customers or from within the CPC, so well done all.

Our teams have been strengthened by staff and management development, with stronger plans to continue the skills growth into 2024/25 now we have our dedicated Learning and Development Lead, Mark Pearson, in our People Development team.

Our customers continue to benefit from the wide range of experience and knowledge our staff have and with the management support, the value proposition we offer existing and new customers grows each year.

Customers

The Managed Procurement Service Team have supported 43 different educational establishments during the year.

A total of 247 tenders were completed by Crescent Consultancy during the year influencing £142,379,322 of non-pay public sector spend.

Savings of £11.4m have been generated within the combined duration of all placement customer contracts.

Consultancy Services

The top 10 categories of spend are shown below:

----- Start of picture text -----
% of overall
Rank CPV Code Awarded Value
spend
1 Catering £ 65,576,368.73 46.06%
2 Cleaning £ 28,069,560.19 19.71%
3 Student Transport £ 8,226,130.99 5.78%
4 Software £ 7,668,754.82 5.39%
5 Agency £ 5,999,995.00 4.21%
6 Printed Stationery £ 5,459,891.32 3.83%
7 M&E £ 3,244,813.91 2.28%
8 Works £ 3,049,499.22 2.14%
9 Security £ 2,646,834.61 1.86%
10 Consultancy £ 2,556,839.79 1.80%
----- End of picture text -----

Consultancy Team

Between August 2023 and July 2024, the ManagedProcurement Service Team consisted of 33 employees, split almost equally across the northern and southern teams.

The gender split across both north and south teams was 49% male / 51% female.

----- Start of picture text -----
247 TENDERS
WERE
COMPLETED
BY CRESCENT
CONSULTANCY
----- End of picture text -----

----- Start of picture text -----
THE TEAMS
HAVE SUPPORTED
43 DIFFERENT
EDUCATIONAL
ESTABLISHMENTS
DURING
THE YEAR
----- End of picture text -----

THE TOP 10 CATEGORIES BY SPEND REPRESENT 93% OF AWARDED CONTRACT VALUE

THE TOP 10 CATEGORIES BY NUMBER OF AWARDED CONTRACTS

----- Start of picture text -----
Catering 46.06%
Cleaning 19.71%
Student Transport 5.78%
Software 5.39%
Agency 4.21%
Printed Stationery 3.83%
M&E 2.28%
Works 2.14%
Security 1.86%
Consultancy 1.80%
----- End of picture text -----

----- Start of picture text -----
Catering 13.82%
Software 9.35%
Cleaning 8.94%
Works 8.13%
Curriculum 8.13%
M&E 7.32%
Audit 5.69%
IT Hardware 4.07%
Student Transport 3.66%
Consultancy 3.66%
----- End of picture text -----

BREAKDOWN BY FRAMEWORK PROVIDER

BREAKDOWN BY TENDER PROCESS

----- Start of picture text -----
CPC Frameworks 85% Below FTS Threshold
Other Providers 15% 6.75%
Mini Competition
53.27%
Mini Competition (DPS)
0.39%
FTS Open 23.61%
FTS Restricted 15.97%
----- End of picture text -----

(Rachel Turner, Head of Procurement) ANNUAL REPORT 2023-24 | 39

Financial Year 2023/24 was the best in the history of the On Demand service. The team completed tenders for customers awarding £123m of business. This has allowed customers to maximise opportunities for making savings and achieved compliancy with procurement regulations through robust tender processes, undertaken by our best-in-class procurement experts.

----- Start of picture text -----
Of these 180 tenders, the route to market was as follows:CPC 87 48.3%
Open 32 17.8%
R-FTS 30 16.7%
RFQ 13 7.2%
Other Frameworks (OF) 9 5.0%
TBC (tendering as you go) 4 2.2%
Review 4 2.2%
Direct award 1 0.6%
180 100.0%
----- End of picture text -----

The On Demand team are hosting 2 supplier events in the first quarter of the new financial year, with Catering and Cleaning suppliers being invited to attend on separate occasions. Forging good supplier relationships is a key objective for the team as this can be a valuable source of future leads.

In the last 12 months 2 in-person team days have been held looking at how the team can streamline our services and make us more efficient by better utilising existing software programmes, improvements are working well.

The team are now well established and performing at a high level. Customer satisfaction with our service remains strong. 70% customers rated the service as outstanding with 30% rating the service as good. 87% said the service received was as expected with no areas to be improved. 100% would recommend CPC to other educational establishments.

We are particularly pleased with the support we are able to offer the Contracting Team in utilising our frameworks as much as possible.

Our customer base remains quite well balanced across our sectors with the following client base using our services:

----- Start of picture text -----
Schools 59 32.8%
MATS 58 32.2%
Colleges 51 28.3%
12 6.7%
Universities
180 100.0%
The top 5 spend categories out of the 23 undertaken by the On
Demand Team where as follows:
1 Catering 42
2 Cleaning 37
3 IT Services 15
4 FM 11
5 Audit 10
----- End of picture text -----

The top 5 spend categories out of the 23 undertaken by the On Demand Team where as follows:

----- Start of picture text -----
OUR CLIENTS
----- End of picture text -----

----- Start of picture text -----
70% CUSTOMERS
RATED THE
SERVICE AS
OUTSTANDING
----- End of picture text -----

----- Start of picture text -----
100%
CUSTOMERS
WOULD
RECOMMEND
CPC
(Jonathan Whittle, Head of On Demand Services)
----- End of picture text -----

ANNUAL REPORT 2023-24 | 41

Crescent Services have

experienced some positive change and growth this year. Sharia Rahman (Procurement Customer Engagement Advisor) joined Crescent Services this year and has been progressing its course to expansion. One of the first positive changes to highlight is the change of name as part of our brand harmonisation strategy. The brand now appears in cohesion with CPC and avoids ambiguity when talking to external stakeholders.

The sister arm of CPC has seen growth in membership numbers which have nearly doubled compared to last year. The growth in numbers happened due to active engagement through various channels. As a corollary, this has contributed to the increase in our turnover, profit and consequently the contribution to the CPC charity.

We have carried out 61 visits with Crescent Services members. This new engagement has made Crescent Services more apparent to its existing and new members and has received positive feedback. Members and suppliers are more aware of Crescent Services and its offerings to the wider public sector, and we have also exhibited in several exhibitions this year for the first time, which have made us a prominent presence in the sector.

With £2.4m worth of confirmed contract awards and over £10m in the pipeline, we expect to deliver many more positive results and much more success. There are some fantastic ideas in the pipeline to be explored and implemented which will exacerbate Crescent Services’ expansion to become a ubiquitous brand in the UK public sector.

The Board of Directors for Crescent Services agree that the

----- Start of picture text -----
EXHIBITED
AT SEVERAL
EXHIBITIONS
AND TRADE
SHOWS
----- End of picture text -----

subsidiary organisation has a clear rationale for its existence and have discussed the benefits and risks attached to the company. The charity Board of Trustees are updated on the progress of Crescent Services at each board meeting to ensure all directors and trustees are content that the arrangement continues to best serve CPC’s charitable purposes.

----- Start of picture text -----
MEMBERSHIP
IS FREE
£2.4M
WORTH OF
CONFIRMED
CONTRACT
AWARD
OVER £10M
CONTRACT AWARD
IN THE PIPELINE
61 VISITS WITH
MEMBERS (From left to right: Jack Horton - Customer Engagement
Manager, Jack Buckley - Procurement Manager, Sharia Rahman
- Procurement Customer Engagement Advisor, and Nigel Dexter
- Procurement Manager, exhibiting at Procurex National on 16th
May 2024 at The Exhibition Centre, Liverpool)
----- End of picture text -----

ANNUAL REPORT 2023-24 | 43

CPC has a long history of working in collaboration and partnership with external partners.

We believe that strong partnerships will generate benefits that will positively impact our customers. We continued to build on our existing partnerships throughout 2023/24 with new ones in the pipeline.

Department for Education (DfE) www.gov.uk

We continued our collaboration in partnership with the Department for Education with the sole purpose of progressing the mutual goals and benefits of improving procurement within the education sector. As of the 31st of July 2024, the Department for Education were recommending 15 CPC frameworks.

Risk 2 Value www.risk2value.com

Framework partners to CPC, Risk 2 Value provide expertise on insurance matters. Risk 2 Value support the work associated to insurance frameworks provided by CPC and also lead on any insurance tenders for Crescent Consultancy customers.

ANNUAL REPORT 2023-24 | 45

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Managing Director Closing Comments
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The 2023/24 financial year will conclude my third year as Managing Director. Those three years have passed by very quickly not least due to the volume of activity and achievements CPC has undertaken in that period.

This report details many of the achievements we have gained over the past year, and I am proud of each one. But I want to use the opportunity within the closing comments to reflect on the past three years, focusing on the growth we have made.

Income - Our income has seen a 30% growth from £4.6m in 2021/22 to £6m in 2023/24. This is the highest income that the CPC has achieved in our 25-year history.

Framework Spend - Spend via our portfolio of purchasing frameworks has increased by 34%, with spend increasing from £322m to £433m. This pleasing outcome reflects the trust that our members place in our extensive offering.

People Oriented because our people are our product. We will do this by being Supportive towards each other and work in Collaboration to ensure we are inclusive in our knowledge sharing thus helping everyone in the charity to develop to become the very best they can become, and we will act in a Professional and Customer Focused manner towards all our members and stakeholders, both internal and external.

I am blessed to have an exceptional team of people who provide support to myself and the charity and I would like to sign off by thanking all of the staff, each one adding their own unique skills and knowledge and taking responsibility for their role, and to the trustees all of whom volunteer their time and knowledge to help CPC become the impactful charity it is.

Darren Lowe

MANAGING DIRECTOR

Membership - Growth in membership has increased by 12%, from 9,000 to 10,098. Growth has been slower than we anticipated as a direct result of a competing procurement service by the Department of Education called Get Help Buying For Schools, which launched in February 2022. Their ability to offer all of their services free, because of being funded by the Treasury, has proven to be attractive to schools and academies.

Progress requires continuous progression, and I intend for CPC to continue that path. Our current 5-year plan will reach the mid-point in January 2025, meaning we still have 2.5 years of collaborative innovation in order achieve the key results we set back in 2022.

Those key results will not be achieved by the work of individuals or even teams working in isolation. To achieve our vision, we will continue to have a shared goal and live our ‘values’ by being

ANNUAL REPORT 2023-24 | 47

Registered Office

Auditors

Bankers

Solicitors

djli," Crescent Purchasing Limited Annual Report and Consolidated Financial statements For the year ended 31 July 2024 Compony registration no: 06774578 Charity Registration No. l 130461 www.djh.co.uk

CRESCENT PURCHASING LIMITED CONTENTS Page Legal'and administrative information Trustees. r.eport 2-16 Independent auditor's report 17-20 Consolidated statement of financial activltles 21 Consolidated balance sheet 22-23 Consolidated statement of cash flows 24 Notes to the financial statements 25-46

CRESCENT PURCHASING LIMITED LEGAL AND ADMINSTRATIVE INFORMATION CONSTITUTION Crescent Purchasing Limited ICPLI is a company limited by guarantee and a registered charity governed by its memorandum and article5 of association. CPL trades as Crescent Purchasing Consortium ICPCI. The reglstered charity number is 1130461 and the company number is 06774578. DIRECTORS AND TRUSTEES The Directors of the charitable company I'the Charity") are its trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees. F Bensihem, Finance and Procurement Officer, College of West Anglia A J Comyn, Ichairl Deputy Chief Executive & Chief Financial Officer, Nottingham College L Jenkins, Deputy Principal Finance and Resources, North Kent College P Kane, Head of Estate and FM, Belfast Metropolitan College S J Jacobs, Chief Executive, Professional Weirdos (Appointed 1st May 20241 L R Sparrow, Coach, Mentor and Freelance Consultant (Appolnted 1st May 20241 D E Thornton, Managing Director, Thornton & Lowe (Appointed 1st May 20241 A Williams, Director of School Improvement, Three Spires Trust (Appointed 1st May 2024} Registered Office Procurement House, Unit 23-25 Leslie Hough Way, Salford M6 6AJ. Auditor5 DJH Audit Limited, Bridge House, 157 Ashley Road, Hale, Altrincham WA14 2UT. Bankers Natwest, Leeds City Office, 8 Park Row, Leeds LSI 5HD. Close Brothers Savings, 10 Crown Place, London EC2A 4FT. Lloyds Bank plc, 1$1 Floor IEastl, 10 Gresham Street, London EC2V 7AE. Nationwide Building Society, Kings Park Road, Moulton Park, Northampton NN3 6NW. Solicitors Weightmans LLP, Nol Spinningfields, Hardman Square, Manchester M3 3EB Website www.thec c.ac.uk

CRESCENT PURCHASING LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 JUL Y 2024 The Trustees present their report together with the consolidated f inancial statement5 for the Charity and its subsidiaries for the year ended 31 July 2024 which are also prepared to meet the requirements for the Directors, report for Companies House purpose5. The legal and administrative information set out on page I forms pait of this report. The financial statements comply with the CharitSes Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable in the UK and Republic of Ireland IFRS1021 (effective l January 20151. Vlsion and Mission The vision of the Charity IS to be the procurement services partner of choice for the education sector and through its work, help the sector to enhance teaching and learning. The mission of the Charity is to provide outstanding procurement services to members and clients. Report of the Trustees CPL was established in 1999 as Crescent Further Education Limited by the University of Salford to facilitate collaborative purchasing in the Further Education sector. CPL was established as a charity In November 2009 following a buy out from the University of Salford, to enable the Further Education sector to operate and develop CPL and to promote professional purchasing. CPL works to this end in collaboration with the Department for Education and shares frameworks with the United Kingdom University Purchasing Consortia IUKUPCI. CPL also works in partnership with Dukefield Procurement on joint frameworks though notice has been served on this partnership. The parties will continue to work together through the remaining period of current frameworks, CPL purchased Tenet Education Services ITenetl and its wholly owned subsidiary Tenet Procurement Services ITPSI in 2017 and are collectively known as CPC. On l August 2024 Tenet will merge into its parent company, CPL. All trade, assets and liabilities will transfer into CPL after which Tenet will cease trading. On 2 August 2024 TPS changed its name to Crescent Services ITPSI Limited. The Board of Trustees con51Sts of repre5ent8tives of members colleges, Multi-Academy Trusts and the private sector. The Managing Director of CPC resigned as a Trustee at the end of the year to avoid potential conflicts of interest with hi5 role in running the charity. He remains a director of the subsidiary companies. Resignations N C Cassidy resigned from the Board on Igl June 2024. J C Bentley resigned from the Board on 12, July 2024. th D N Pullein resigned from the Board on 12 July 2024. D Lowe resigned from the Board on 315t July 2024.

CRESCENT PURCHASING LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORn (CONTINUED) FOR THE YEAR ENDED 31 JUL Y2024 Trustee vacancie5 are advertised via Social media channels and ch3rityiob.co.uk. There is a bespoke induction pack and programme for all new Trustees. Trustees are not paid for their services. The Board meets three times a year to determine strategy and to monitor progress. Day to day administration of CPC is delegated to the Managing Director and his employees. The group leadership team IGLTI is made up of five senior managers plus the Managing Director. The pay and remuneration of key personnel is agreed annually as part of the budget setting process. Each post is benchmarked against similar roles within similar sized organisations. On 31 July 2024 CPC had 10,098 members, an increase in the year of 473. Membership consists primarily of English colleges, schools, academie5 and academy trusts and there are also institutions from Scotland, Northern Ireland and Wales. Charitable objectives The Charit¢s objects are to promote the efficiency and effectiveness of charities and the effective use of charitable resources for the benefit of the public by.. l. Providin services for further education hi her education schools and other educational institutional bodies to romote ood ractice and enhance and im rove their rocurement activities. CPC f rameworks continue to provide excellent Value for Money for all members supported by a free helpde5k facility and personal technical support from the field based Regional Procurement Advisor team. This is supported by a procurement managed service (which has recorded £11.3M of savings on current contract terms for 40 customers) and on-demand tendering services. The Trustees are committed to ensuring that any exce55 surpluses are reinvested into the education sector. Since 2019 over £1.5Million has been identified as Designated and Restricted Funds for the purpose of reinvestment. £813,415 had been expended prior to the financial year with a further £231,366 spent during 23124. Re-investment into the education sector takes the form of several projects wlth the grant funding to spon50r student events/activities generating particular interest. The first round of grant funding during 2019120 saw £259k awarded to 33 institutions. The national lockdowns during the global pandemic meant that no further f unding was p055ible though, with the easing of restrictions, a second funding "Windo￿￿, was opened in May 2021. The result of the second round was £288k awarded to 68 institutions which was paid during 2021122. During this financial year a third grant funding window was opened with £201k paid to 33 institutions. The grants awarded are having an amazing impact on learners and enabling institutions to utilise their own resources elsewhere. This year the focu5 on future

CRESCENT PURCHASING LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI {CONTINUEDI FOR THE YEAR ENDED 31 JUL Y 2024 reinvestment was def ined more clearly and is covered in more detail later and in the Annual Report. The Trustees and CPC employees are proud of the contribution they make to these causes. Several Trustees work in educational institutions which are members of CPC and therefore benefit from its services. Their institution5 are therefore eligible for grant funding. It is stated in the related party transactions that no trustees sit on the evaluation panel which reviews and approves funding applications and any grant funding paid will be identified and listed in the financial statements. th To celebrate CPC reachlng its 10,000 member landmark the Trustees approved £10,000 being designated from reserves to contribute towards a procurement training related initiative which will be made available to CPC members to bid for. Details are to be confirmed. 2. Advancin education and research in such research are ublished. rocurement rovided that all the useful results of Crescent Learning is the flagship under which the charity fulfils its charitable objectives in relation to advancing education and research activities in procurement. The Charity continues to fulfil Its commitment through the funding of free procurement courses with 3 party training providers and webinars for CPC member employees. This Includes online webinars by CIPS and BIP Solutions and a wide range of webinars designed by CPC. These courses and webinars will ultimately be added into the Crescent Learning library. The ambition is to replicate this offer to framework suppliers by providing a resource area for their employees to advance their procurement knowledge. During the year, 33 training course5 were funded covering subjects 5Llth as writing a tender specification, ethical procurement and supply, and developing and managing contract5. 75 online webinars were attended covering advanced contract management, basic prit)ciples of contract law and an overview of the education sector. A total of 108 members gained acce55 to trainlng development material to advance their knowledge in procurement. CPC continues to provide full administrative and technical support to regional and national Procurement Advisory Group5 IPAGI and the Further Education Facilities Management Network IFEFMNI. These groups provide an excellent forum for members to advance their education through the transfer of knowledge with peers from other educational establishments and provide feedback on CPC services. During the year, 589 member5 attended PAG meetings and 21 attended FEFMN network groups. 610 members attended the new "PAG present5" webinars which cover a variety of procurement related topics, CPC is currently reviewing the Further Education Library of Procurement IFELPI which is a free to access online learning resource portal for all members. CPC plan5 to merge FELP into Crescent Learning during 2024125, updating the learning and template resources required by

CRESCENT PURCHASING LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI {CONTINUEDI FOR THE YEAR ENDED 31 JUL Y2024 members to meet the requirements of the Procurement Act 2023, which comes into effect from February 2025. In anticipation of the Procurement Act coming into force, CPC has invested in learning and development over the past 12 months, both in terms of its own employees and those of its members. A new role, Learning & Development Lead was recruited in February 2024 and will be responsible for developing learning re50urce5 over the next few years. An increase in ommunications through newsletters, webinars and a dedicated Procurement Act page on the CPC website has raised members, awareness of the change in law from February 2025. AII CPC procurement technital employees have or are close to completing the Cabinet Office provided Expert Practitioner training in preparation for the new Act and several colleagues have participated in further "deep-dive" sessions with peers from across the wider public sector. This will ensure CPC are best placed to cascade knowledgÈ and support members through the legislative process and ensure their procurement activitie5 are compliant. The Trustees oversee the charitable objectives of the charity with due regard to the Charity Commission's public benefit guidance. Flnanclal and business review. 2023124 saw progression through year 2 of the charitvs 5-year business plan. The three main strategies within the business plan are: To deliver outstanding procurement services. To support the development of its people lemployees and members). To enable a Sustainable future Ifinantial, environmental and economic/sociall. CPC income forthe year ended 31July 2024 was £6,036,76112023.' £5,204,750) The year-end surplus before pension costs was £1,120,21112023: £622,325). Marketing premium income from framework usage has increased by £544k from the previous year. Total spend reported through the frameworks exceeded £433 million 12023.. £441 million) providir¢g real value for money for CPC mervber5. 18 frameworks are currently signp05ted by the Department for Education IDfEI. Tenet income from managÈd services increased by £76k during the year to a record total of £1,5S9,636. This is despite the loss of two large contracts at the start of the year due to the impact of the cost-of-living and energy crisis putting pressure on the budget5 of colleges. Contract numbers recovered in the second half of the year and a new growth plan should ncrease income during 2024125 and beyond. Income from the on-demand tendering service wa5 a record £745k12023.' £676kl. Crescent Services ITPSI Limited which services the wider public sector has seen its most active year to

CRESCENT PURCHASING LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI (CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2024 date with significant increase in CPC framework usage and the extension of a managed service contract with a Housing Association. Fundraising- the Charity does not generate a regular income from fundraising and therefore does not Use the services of fundraisers either on a paid or voluntary basis. CPC received several corporate donations during the year totalling £12,182 which is placed in restricted reserves and 15 Used as contribution toward grants awarded to CPC members. 2023124 saw the largest investment in employees in the history of the charity led by the final elements of the harmonisation of terms, conditions and benefits for ewployees working in the subsidiary companies. In April 2024, all Tenet employees were transferred under TUPE regulations into CPC. This coincided with a major rebrand of the charity and launch of a new website. Employee wellbeing is at the forefront of the charity's values with new investment in a comprehensive Employee Assistance Programme IEAPI to support mental health alongside other health and medical benefits. The Charity participates in the West Yorkshire Pension Fund IWYPFI with employees having the option of participating in the NEST pen510n scheme. The WYPF pension scheme value on 31 July 2024 continues to show the company as having a pension asset. This has increased to £1,293,00012023'. £790,0001 and follows on from asset value determined by the actuary in 2022. In accordance with applicable accounting standards, the asset value h35 been deemed to be unrecognisable on the basis that the company has no expectation of reduced future employer contributions at some point during the life of the plan. Although a pension asset is arising, this does not create an irllmediately realisable asset that can be expended for the specific purposes of the pension fund. In respect of the year ended 31 July 2024 a glft aid payment of £2,82812023.' £6,164) was received from Tenet Education Services and £28,76912023= £12,404) wa5 received from Crescent Services ITPSI Limited. Lookin ahead CPC intends to continue its growth over the coming years in line with the S-year strategy launched in 2022. New growth plans for all frontline business Streams have been developed. A new detailed and robust development training pack8ge for the companV5 procurement profe551onals and all managers will be launched in Autumn 2024. This follow5 the charity's "Grow Your Own" ethos which is aimed at ensuring CPC retains and recruits the best talent. The Articles of Association have been reviewed to ensure it accurately reflects the work the charity is currently doing and its growth ambitions. A revised set will be presented to voting

CRESCENT PURCHASING LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI (CONTINUED) FOR THE YEAR ENDED 31 JUL Y2024 member5 at the AGM in November 2024 for approval. This will also include an added charitable object to include the increasing focus on 'Giving Back" A new grant funding window will open in early Spring 2025. Previously grants have funded a variety of projects and events aimed at. Enhancing teaching and learning. Improving a learner's experience of education. Supporting the learning of economically disadvantaged learners and minority groups. The focus of future grants and the daily operational activities of the charity will now be on supporting our members in their quest to adequately help and support the following. Learners with Special Educational Need5 and Di5abilitie5 ISENDI. The physical and mental wellbeing of learners (with or without SENDI. Absenteeism. The Board of Trustees, senior management and employees fully support this focus and the positive impact CPC, with their efforts will have on people's lives. CRESCENT $enteelsm CPC will shortly be publishing its first Equality, Diver51ty and Inclusion IEDII Annual Report for 2023124 covering all its achievements through the year and plans for future years to achieve the EDI Strategy produced last year. The financial strength of CPC ensures it tan absorb any continued impact from the cost-of- living crises and with no long-term liabilities Iloansl 15 not negatively impacted by rises in interest rates. Reserves pollcy CPC maintains a reserves policy that is available on its website. This sets out the level of reserves to be held by the company and the reasons why. Designated and Restricted reserves are those reserves that the Board of Trustees have approved for the purpose of "Giving back" to the education sector.

CRESCENT PURCHASING LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPQRTI (CONTINUED) FOR THE YEAR ENDED 31 JUL Y2024 Post balanre Sheet event5 Tenet Education Service5 Limited, a wholly owned subsidiary of CPC will merge into the parent company following the financial year end audit. Employees transferred into the charity on I April 2024. Tenet Procurement Services will continue trading as a subsidiary of CPC though with effect from 2 August 2024 will be renamed to Crescent Services ITPSI Limited. These changes will not have a significant effect on the Charity's financial position. Environmental management At the start of 2022 a Sustainability Working Group was established with employee volunteers from across CPC. This is chaired by a member of the Group Leadership Team IGLTI and has a Board sponsor. The aim of the group is to ensure the objectives set out in the 5-year strategy are achieved, not least setting out and completing the detailed plan to achieve 15014001- Environmental Management accreditation. Progress 15 reported at each monthly GLT meeting and at each Board meeting. In 2022123 an Environment Management System IEMSI template and the Charity's first Environmental and sustainability policy was produced. This year the focus has been to embed the objectives and key actions set out in the policy as well as introducing processes to collate and record the charity's carbon emissions and calculate its carbon footprint. During 2024125 a Carbon Management Plan ICMPI will be created to manage and ultimately reduce the footprint over the next five years. This will be published on the website. Business travel across the organisation 15 forecast to reduce year-on-year as management encouraEe more efficient and effective means of consulting with customers, in particular the Regional Procurement Advisors meetings with members which are, in the main held virtually. A hybrid working model means that employees based at the Head Office in Salford are only expected to work onsite for two days per week and can work from home for the remainder. Some managed service contract customer5 are willing for CPC employees to work on a hybrid basis to reflect their own working practices. Thi5 year £1,000 was donated to City of Trees, a charity which plant trees and restore woods and green spaces in the Greater Manchester area. Each year, a similar type of charity in a different part of the country will be chosen to receive a similar donation. Soclal Impact CPC continues its agile working policy which allows employees to choose their place of work within any customer contractual boundaries. This has had a positive effect on both productivity and employee wellbeing. The company head office in Salford remain5 partially occupied and is predominately used as a hub for collaborative working with teams across the company.

CRESCENT PURCHASING LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI (CONTINUED) FOR THE YEAR ENDED 31 JUL Y2024 CPC was very pleased to maintain its "Great Place to Work" accreditation for its fourth year which runs alongside its current accreditatlons for"Top 100 Great Place to Work for Women", 'Top 100 Great Place to Work for Wellbeing" and "Great Place to Work - UK'S best workplace" It also gained accreditation for UK'S Best Workplace for Development and UK'S Best Workplace for Charities and Not for Profit organisation5. The S-year busine55 plan supports the Charity's "Grow Your Own" ethos by incorporating the recruitment of local graduates into planned positions across several areas of the business. CPC has committed to making available one day per year for employees to volunteer their tlme to local good causes. During the year employees took part in various activities including- Litter picking and minor maintenance work at a local park. Helping at a local homelessness charitv. Working at a local dog's home. Decorating and minor grounds maintenance of a charity's head office. The management and distribution of restricted and designated reserves to member institutions in the form of grants is led by the "Giving Back" Group who ensure that three main criteria are met. These have recently been changed as detailed above. £201k of grant funding was distributed during the year with further funding commissioned for 2024125. Feedback from institutions that have received funding have been extremely p051tive and demonstrate the direct social impact CPC is having on the lives of young learners. The charity's social impact from "Giving Back" can be easily measured with the results available on the CPC webslte. Measuring the impact f rom the day-to-day operational activities is more challenging and 2024125 will see progress being made to address this with the results published on the website. The impact will focus on the Ch2ritWs main stakeholders: CPC Members. Customers outside of membership. CPC framework suppliers. Employees. In July 2024 CPC held its first Supplier Excellence Awards Night at the Hilton Hotel in Manchester. This was to celebrate the achievement5 of framework suppliers in supporting the education sector over the year and to involve suppliers in the Charity's revised focus of supporting SEND, wellbeing and absenteeism for its members. The event was a success with £7,595 of donations being received for"Giving Back" as well as several leads belng generated from suppliers and attendees for increased support toward the new SEND, wellbeing and absenteeism initiative on a longer-term basis. The aim is to make thi5 all annual event.

CRESCENT PURCHASING LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI ICONTINUED) FOR THE YEAR ENDED 31 JUL Y2024 Equallty diversity and inclusion IEDI) A 5-year EDI strategy was launched in November 2023. The Trustee5 recognise that EDI is key to helping deliver a public benefit and continually reappraise a full and comprehensive polity of diversity, inclusion and equal opportunities. CPC'5 f irst EDI Annual Report for 2023124 has been produced detailing the ambitions and continual progress being made by the EDI working group, which was formed in 2022 and is chaired by an employee. The group works on various initiatives throughout the year to support the development of employees, one of CPC'S main strategic objectives. The EDI working group overseas the great work being carried out by the Women's and Men's support groups with further inclusive groups (such as a new carer's group) and activities planned. In support of EDI initiatives outside of the charity, CPC donated £1,000, split between three external organisations: Just Like Us lan LGBT+ young people's charity), Scope la disabilitv equality charity) and the Race Equality Foundation la national charity tackling racial inequality in public services). Similar donations will be committed each year. Health, safety and employee wellbeing The Trustees are aware of their responsibilitie5 on all matters relating to health and safetv. The Charity has a dedicated health, safety and wellness Lead who prepared the current health, safety and employee wellbeing strategy. A Board sponsor oversees the work that is carried out in relation to this. The aim of this strategy is to develop a positive health, safety and wellbeing culture with coherent policies and procedures that are compliant with all appropriate health and safety standards. Further details are provided in this report under Risk Management and Compliance checks. In February 2024 CPC was awarded its first ISO accreditation,150 45001 (Occupational Health & Safety Management). Thi5 achieves one of the maln business aims within the 2022-27 Business Plan. Further and sustained investment in employee wellbeing is a priority, with the majority of the workforce working remotely. The actions specified in the Health & Safety strategy have been completed. A Wellness Plan ha5 been developed and awaits approval. Eight employees have been trained as mental health first aiders. A new Men'5 group was stsrted in the year to run alongside the Women's group formed last year and has been warmly received by participants. Workshops are currently in progress with all employees to collate thought5 and suggestions prior to the development and implementstion of an Employee Value Proposition IEVPI. io-

CRESCENT PURCHASING LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI ICONTINUEDI FOR THE YEAR ENDED 31 JUL Y2024 Several workshops, posted articles and tips were delivered throughout the year covering tOPlC5 requested by employees such as.. Work Life Balance, Menopause, Women and men's health and Neurodiverslty. Weekly office chair yoga sessions and seasonal coffee and connections have been particularly well received. CPC is proud to maintain its Top 100 Great Place to Work for Wellbeing accreditation for another year with 99% of employees feeling that CPC is a physically safe place to work, 87% of employees feeling that CPC is a psychologically and emotionally safe place to work and 91Yo feeling that CPC encourages work-life balance. The new Wellness Plan aims to improve these results. Governance The Trustees are committed to the highest standards of Governance and recognise that this is only achieved through continual improvement. The Charity Governar)ce Code is used as guidance and su pport for future improvements. In the build up to and during Board meetings in the year the Trustees have taken one of the seven pririciples included in the code and identified area5 where further improvements can be made and this will form part of the continual Board development process. Two principles have been covered to date. The Trustees have completed an annual detailed sk￿115 assessment for the last two years and these have identified 5ki11s gaps within the Board which have mostly been addressed with the appointment of four new trustees in May. The remaining gaps will be covered by training of current Trustees and the recruitment of a trustee with legal experience and a trustee with IT/Cyber security experience. A comprehensive Learning and development platform ha5 been created for the Board which will provide training resources for all Trustees as part of their continual development. The Trustees have also approved a Trustee Performance Review Process which will incorporate a Board Development Plan alongside collective Board performance reviews every three years and annual individual trustee performance reviews. The Crescent Services ITPSI Limited (formerly Tenet Procurement Services Limitedl Board has been reduced to three director5= the Chair of CPC, the Managing Director of CPC and the Financial Controller of CPC. This is to improve efficiency and governance with separate Board meetings being held in advance of the main Charity Board meetings. The GLT acknowledge that the organisation requires effective leadership at every level to achieve the Group's Mission and Vision. A new training and development programme for all managers has commenced in the year to support them in their role. CPC has several cash inve5tment5 in line with it5 Treasury Management Policy. The Trustees require that all investments be carried out ethically and have agreed that research can commence on potential equity investmer)ts in the future. li-

CRESCENT PURCHASING LIMITED TRU5TEES' REPORT (INCLUDING DIRECTORS, REPORTI ICONTINUEDI FOR THE YEAR ENDED 31 JUL Y2024 The Financial Controller regularly monitors not only the credit ratings of institutions the Group invests its cash with but also the environmental sustainability performance of the listed institutions and reports on this through the management accounts commentary. The environmental sustainability performance is based on several criteria Incorporating environmental reporting, carbon disclosure & reduction, responsible investment, ethical accreditations and political donations. Internal controls assurance The Trustees are responsible for ensurinE that its business is conducted in accordance with the law and proper standards, that the Charity's assets and money are safegtjarded and properly accounted for, and that they are being used economically and effectively. A wide range of internal control mechar)isms are in place and being operated to help CPC meet its strategic objectives, to operate within the law, to make effective use of the Charitvs money and to report activities accurately. These bring together information from all significant parts of the business and provide assurance to the Trustees that an effective System of internal controls is in place. The most significa nt sources are through.. The external auditors. Financial and non-financial performance monitoring and management. Appropriate communications structures. Effective strategies, policies and procedures. External stakeholder5, including the Charity Commission and accreditation bodies. The main forms of assurance are: erational controls Effective recruitment and selection process is in place to ensure suitable people are employed (including the completion of Disclosure and Barring Service check5 for employees working in educational institutions) with senior managers responsible for ensuring that Standards of conduct and behaviour are maintained to the highest levels. Annual appraisals (based around the Charity's vision and values) and half year interim reviews, with regular team and one-to-one meetings undertaken to maintain high standard5 of performance. People Development processes are in place to address any gaps or failings. Formal (but not exclusive tol Financial Policies and procedures, IT and Communications Atce5s Policy, Group Conduct, Data Protection Poliry, Health and Safety Policy and Treasury Management Policy. 12-

CRESCENT PURCHASING LIMITED TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORTI ICONTINUEDI FOR THE YEAR ENDED 31 JUL Y2024 Appropriate separations of dutie5 are in place acr055 key operational functions e.g., purchase order proce55 to mitigate risks around fraud. Role based access controls are in place to ensure that employee5 only have access to system5 and data that is pertinent to their requirement5. Financial forec8Sts and budgets are in place which allow the GLT to monitor spend in terms of achieving budgets in the short, medium and long term. In July 2024 the Board of Trustees approved the formation of an Employment and Finance Committee IEFCI which will meet three times a year, a month prior to each main Board meeting. Its remit wi11 be to review and evidence that operational contro15 are effective. The EFC comprises three TrLtstees, two of whom are accountants and one who is a HR Consultant alongside the Managing Director, Financial Controller and Head of People Development. Risk mana ement and com liance checks The GLT maintain a comprehensive risk register. Risks are collated under four main headings: Financial, assets, premises, H&S and charitable status. Suppliers, partners, competition, frameworks and all Group procurement services. Group operational, legal and regulatory rnatter5. Membership, customers, reputational issues and the marketplace. The risk reElSter land in particular the "top 5" risks identified below) is reported to every Board meeting, supplemented by detailed reviews throughout the year by the GLT. The risk appetite is reviewed during this process. Risk Nature of Risk and Risk Appetite Severe reduction in income due to increased competition and loss of market share poses a risk to the business plan. Risk Appetite- moderate Mitigation Sigriificant loss of income Robust financial management processes are in place with action plans identified should trigger points be met. Reserves policy ensures adequate reserves are maintained. Compliance with Data Protection legislation Secure and resilient technology and processe5 are fundamental in building a more resilient business. Risk Appetite- avoid External penetration testing of Systems 15 carried out each year. The servers are now cloud-ba5ed with daily routine backups taking place. Compliance with health and safety legislation Failure to reduce or remove threat5 to employee, customer and supplier health and safety leads to harm and reputational damage. A health, safety and staff wellbeing strategy 15 in place wlth rllandatory training for all employees. A wellness group is tasked with maintaining an employee wellbeing and engagement 13-

CRESCENT PURCHASING LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI (CONTINUED} FOR THE YEAR ENDED 31 JUL Y 2024 Risk Appetlte - avoid programme. CPC has invested in an Employee Assistance Programme IEAPI and other health benefits. Business continuity in the event of a major disruption Impact of major disruption such as Covid-19 pandemic or major IT outage on the continuing operations of the business. Risk Appetite - moderote Recruitment and retention of talent is essential to the delivery of business objectives and the loss of skills and knowledge poses a challenge to maintaining performance. RiskAppetite- moderate A Business Continuity Plan provides guidance and support in the event of a major no-notice event. This is tested throughout the year. Recruiting and retaining talent Although retention has improved considerably during the year it is recognised that complacency must not set in. Competitive terms and conditions including a generous bonus and pension scheme. Regular feedback is received from employees via surveys, 1-2-Is and exit interviews. To implement an Employee Value Proposition IEVPI strategy that focuses on improving all areas of people development, culture, work environment and total rewards. A range of surveys are undertaken of customer and employee satisfaction. The GLT conduct detailed analysis of the results with actions taken to address areas of concern. There is appropriate independent oversight of compliance within specific areas of the business such as Health & Safety and Data Protection. CPC continues to progre55 Its 5-year strategy in relation to health, safety and employee wellbeing which is sponsored by a board member. CPC achieved150 45001 Occupational Health & Safety accreditation during the year. CPC maintains its "Great Place to Work" accreditation, "Top 100 Great Place to Work for Women" "Top 100 Great Place to Work for Wellbeing" and "Great Place to Work UK'S best workplace" CPC maintains Cyber Essentials Plus accreditation. CPC commissions external consultants to perform penetration testing on its systems each year. This forms part of the Charity's work toward achieving ISO 27001- Information Security Management accreditation. A Board member sponsors a working group set up during the year to ensure CPC maintains full compliance with UK GDPR focussing on Continual improvement. 14-

CRESCENT PURCHASING LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI ICONTINUEDI FOR THE YEAR ENDED 31 JUL Y2024 Internal controls assurance conclusion The Trustees can take assurance that the CPC is reacting appropriately to the challenges it faces and has acted proactively to identify, investigate and communicate issues and management actions in an accessible, transparent manner. The Trustees can confirm that the CPC ha5 5Ultable internal controls for maintaining adequate accounting records, for safeguarding the assets of the Charity, and for taking reasonable steps to prevent and detect fraud and other irregularities. They also confirm that no weaknesses have been identified from the external audit which would have resulted in material misstatement or loss and which would have required disclosure in the financial statements. Annual general meetlng th The annual general meeting will be held on 11 of December 2024. The event will be hybrid, online via Microsoft Teams and in per50n. External auditor5 DJH Audit Limited were appointed as the external auditors for the next three years following re-tendering exercise conducted through the CPC Audit Service5 framework and open to all Suppliers on that framework. Statement of the responsibllities of the Board of Trustees in relation to the Financial Statement5 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 Charity at the end of the financial year and of its surplus or deficit for the f inancial year. The Trustees are required to: Select suitable accounting policies and then apply them consistently. Observe the methods and principles in the Charities Statement of recommended Practices ISORPI. Make judgements and estimates that are reasonable and prudent. State whether applicable UK accounting standard have been followed, subject to anv material departure disclosed and explained in the financial statements,. and Prepare the flnancial statements on the going concern basis unless it is inappropriate to presume that the charity will continue In business. The Trustees are responsible for keeping proper accounting records that disclose, with reasonable accuracy at any time, the financial p051tion of the Charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and its subsidiary companies and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. 15-

CRESCENT PURCHASING LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED} FOR THE YEAR ENDED 31 JUL Y2024 The Trustees are responsible for the maintenance and integrity of the corporate and flnancial information included on the charitable company's wet>51te. Legislation in the United Kingdom governing the preparation and dissemination of the financial statements may differ from legislation in other jurisdictions. In so far as each Trustee is aware.. There is no relevant audit information of which the Charitvs auditors are unaware,. and The Board of Trustees have taken all step5 that it ought to have taken to make itself aware of any audit information and to establish that the auditors are aware of that information. This report of the Trustees was approved by the Board on 11 December 2024 and signed on its behalf by: AJ Comyn Chair of Trustees 16~

CRESCENT PURCHASING LIMITED INDEPENDENT AUDITOR'S REPORT FOR THE YEAR ENDED 31 JUL Y2024 Opinion We have audited the financial statements of Crescent Purchasing Limited (the parent 'charity'l and its subsidiaries (the group) for the year ended 31 July 2024 which comprise the group statement of finarlcial activitie5, the group balance sheet, the charity balance sheet, the group 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 Roporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland Iunited Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the state of the group's and the charitable company's affairs as at 31 July 2024 and of its incoming resources and application of resources, 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 oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the Zudit of the f inancial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the U K, including the FRCS 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 directors 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 group's or charity's ability to continue as a goinE 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 thereoll. 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 we do not express any form of -17-

CRESCENT PURCHASING LIMITED INDEPENDENT AUDITOR'S REPORT ICONTINUEDI TO THE TRUSTEES OF CRESCENT PURCHASING LIMITED assurance COF)clusion 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 reqvired to report that fact. We have nothing to report in this regard. Matters on which we are requlred to report by exceptlon In the light of the knowledge and understanding of the group and charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees report or the director's report. We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion.. the information given in the financial statements is inconsistent in any material respect with the Auditor report,. or sufficient accounting records have not been kept,. or the financial statements are not in agreement with the accounting records,. or we have not received all the information and explanation5 we require for our audit. Responslbllltles of trustees A5 explained more fully in the statement of Auditor responsibilitie5 the trustees, who are also directors of the charity for the purpose of company law, are responsible for the preparation of the financial statement5 and for being sat15fied 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 f rom material misstatement, whether due to f raud or error. In preparing the financial statements, the trustees are responsible for assessinE the charity'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 f inancial statements We have been appointed as auditor under Section 144 0* the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 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 include5 Our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect 18-

CRESCENT PURCHASING LIMITED INDEPENDENT AUDITOR'5 REPORT (CONTINUED} TO THE TRUSTEES OF CRESCENT PURCHASING LIMITED 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. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows.. the engagement partner ensured that the engagemer)t team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our previous knowledge and experience of the client and businesses in similar sectors; we assessed the extent of compliance with the13ws and regulations identified through making enquiries of management and inspecting any available legal correspondence,. and the audit team were in regular communication in relation to laws and regulations and potential instances of non-compliance throughout the audit. We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, bv: making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud,. and considering the Internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we.. performed analytical procedures to identify any unusual or unexpected relationships; tested journal entries to identify unusual transactions,. assessed whether judgements and assumption5 made in determining the accounting estimates were indicative of potential bias; investigated the rationale behind significant or unusual transactions,. and performed walkthrough tests on major transaction cycles. In response to the risk of irregularities and non-compliance with laws and regulation5, we designed procedures which included, but were not limited to: agreeing financial statement disclosures to underlying supporting documentation; enquiring of management as to actual and potential litigation and claims,. reviewing legal and professional expenses for potential ongoing litigation work; and reviewing correspondence with HMRC and other professional advisors. There are inherent limitatlDns in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it 15 that we would 19-

CRESCENT PURCHASING LIMITED INDEPENDENT AUDITOR'S REPORT ICONTINUEDI TO THE TRUSTEES OF CRESCENT PURCHASING LIMITED become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondente, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error a5 they may involve deliberate concealment or collusion. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.//www.frc.org.uklauditorsresponsibillties. This description forms part of our auditor's report. Use of our report This report 15 made solely to the charitvs trustees, as a body, in accordance with Part 4 of Charitie5 (Accounts and Reports) Regulations 2008. Our audit work has been undertaken 50 that we might state to the charity's trustees those matters we are required to state to the member 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 charity and the charity's trustees for our atjdit work, for thls report, or for the opinlons we have formed. Candice Beynon FCCA (Senior Statutory Auditor) For and on behalf of DJH Audit Limlted Date: Chartered Accountants Statutory Auditor Bridge House 157 Ashley Road Hale Altrincham WA14 2UT DJH Audit Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. -20-

CRESCENT PURCHASING LIMITED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JUL Y2024 Group 2024 Group 2023 Charity 2024 Charity 2023 Notes Income from: Donations and legacies Charitable activities Investments 12,182 500 43,778 19,068 5,834,220 5,127,590 3,727,166 3,214,309 190,359 76,660 183,435 56,787 Total income 6,036,761 5,204,750 3,954,379 3,290,164 Ex enditure on: Charitable activities 4,916,550 4,582,425 2,740,743 2,552,664 Net income forthe yearl Net incoming resources Other recognised gains and losses Actuarial Ilossl gain on defined benefit pension Schemes 1,120,211 622,325 1,213,636 737,500 1784,0001 496,000 1784,0001 496,000 Net movement In funds 366,211 1,118,325 429,636 1,233,500 6,848,047 5,729,722 7,685,065 6,451,565 Fund balances at l August 2023 Fund balan¢es at 31 July 2024 7,184,258 6,848,047 8,114,701 7,685,065 The statement of financial activitie5 includes all gains and105se5 recognised in the year. All income and expenditure derive f rom continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 21-

CRESCENT PURCHASING LIMITED CONSOLIDATED BALANCE SHEET ASAT31JUIY2024 Group 2024 Group 2023 Charity 2024 Charity 2023 Notes Fixed assets Goodwill Intangible assets Tangible assets Investments 12 13 14 15 115,000 42,590 36,936 27,480 24,907 27,480 42,590 13,995 26,110 1,377,962 1,377,962 52,387 194,526 1,419,437 1,446,662 Current assets Debtors Cash at bank and in hand 17 1,249,822 1,007,680 916,885 779,331 6,762,682 5,673,306 6,492,782 5,191,669 8.012,504 6,680,986 7,409,667 5,971,000 Creditors: amounts falllng due within one year 18 1880,6331 1817,4651 1714,4031 1522,5971 Net current assets 7,131,871 5,863,521 6,695,264 5,448,403 Net assets excluding pension 7,184,258 6,058,047 8,114,701 6,895,065 Def ined benefit pension surplus / provlslon for Ilabilltles 19 790,000 790,000 Net assets 7,184,258 6,848,047 8,114.701 7,685,065 Income funds Unrestricted funds- designated Unrestricted funds- general Unrestricted funds- pension Restricted Funds- 'Giving Back" 21 520,993 347,387 520,993 347,387 6,655,555 5,710,160 7.585,998 6,547,178 790,000 790,000 500 500 7,710 7,710 7,184,258 6,848,047 8,114,701 7,685,065 22-

CRESCENT PURCHASING LIMITED BALANCE SHEET (CONTINUED) ASAf31 JULY2024 The company 15 entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2024, although an audit has been carrSed out under section 144 of the Charities Act 2011. No member of the compaNy has deposited a notice, pursuant to section 476, requiring an audit of those f inancial statements under the requirements of the Companies Act 2006. The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affair5 of the company as at the end of the financial year and of its incoming resources and application of resources, including Its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustee5 on 11 December 2024. AJ Comyn Chair of Trustees Company Registration No. 06774578 -23-

CRESCENT PURCHASING LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JUL Y2024 2024 2023 Notes Cash flows from operating activities Cash generated from operation5 26 916,505 1,325,327 Investing activities Purchasing of tangible fixed asset5 Sale of fixed assets Interest received 118,1221 634 190,359 118,1551 1,163 76,660 Net cash used in investing actlvltles 172,871 59,668 Net cash used in financing activitles Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year 1,089,376 1,384,995 5,673,306 4,288,311 Cash and cash equivalents at end of year 6,762,682 5,673,306 24-

CRESCENT PURCHASING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JUL Y20Z4 l. Accounting policie5 Charity information Crescent Purchasing Limited is a private company limited by guarantee incorporated in England and Wale5. The registered office is Procurement House, Le51ie Hough Way, Salford, M6 6AJ. The Crescent Group consist5 of Crescent Purchaslng Llmited, Tenet Education Service5 Limited and Crescent services ITPSI Limited. 1.1 AccountinE convention The charity constitute5 a publit benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with accounting and Reporting by Charitie5'. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in that UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities Act 2011 and the companies Act 2006 and UK Generally Accepted Accounting Practice. The financial statements are prepared in sterling, which is the functional currency of the charity. 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. This charity is a qualifying entity for the purpose of FRS 102 and the Charity SORP, being a member of a group where the parent of that group prepare5 publicly available consolidated financial statements which are intended to give a true and fair view lof the a55ets, liabilities, financial position and profit or lossl and that member is InclLJded in the consolidation. The charity has therefore taken the advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements. Section 7 'Statement of Cash Flows,: Presentation of a statement of cash flow and related notes and disclosures Section 33 'Related Party Disclosures,: Compensation for key management personnel. 1.2 Going concern At the time of approving the financial statement5, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existente for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 25-

CRESCENT PURCHASING LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JUL Y2024 l. Accounting policies Icontinuedl 1.3 Charltable funds Unrestricted funds are available for use at the d15cretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Restricted funds are subject to specific conditions by donors as to how they may be used. The purpose and uses of the restricted funds are set out in the notes to the flnancial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Incomlng resources Income 15 recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once that charity has been notified of the donation unless performance conditions require deferral of the amount. Income tax recoverable in relation to donation5 received under Gift Aid or deed5 of covenant is recognised at the time of the donation. Legacie5 are recognised on receipt or otherwise if the charity has been notlfied of an impending distribution, the amounts is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity, this is normally upon notification of the interest paid or payable by the bank 1.5 Resources expended Expenditure is included within the Statement of Financial Activities on an accruals basis. Irrecoverable VAT has been charged a5 8 cost against the activity in which the expenditure was inturred. All expenditure is solely for the purpose of achieving the charities objectives and has been disclosed within those cost categories. Governarice costs are recognised when, and to the extent that, the charity can identifv activities in which are associated with the general running of the charity. a5 OPP05ed to being directly associated with its charStable activities. Support costs are recognised when the tharity can identify centralised services that benef it 3113rea of the charitvs operations. 26-

CRESCENT PURCHASING LliVtITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JUL Y2024 l. Accounting policies Icontlnued) 1.6 Intangible flxed assets - goodwill Goodwill represents the excess of the cost of acquisition of unincorporated buslnesses over the fair value of net assets acquired. Its it initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated mpairment losses. Goodwill shall be considered to have a finite useful life and shall be amortised on a systematic basis over its life. 1.7 Intangible fixed asset5 Other than goodwill Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amort15ation 3nd accumulated impairment losses. Intangible assets acquired on business combinations are recogni5ed separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the cost or value of the asset can be measured reliably. Amortisation is recognised so as to write off the cost or valuation of assets le5S their residual values over their useful lives on the following bases.. Customer relationship Brand Cloud-based server up to 8 years up to 8 years Over 5 year5 1.8 Tangible fixed assets Tangible fixed a55et5 are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets les5 their residual value over their expected useful lives on the following bases.. Leasehold improvements Plant and equipment Fixture5 and fittings Over the life of the lease Between 3 and 6 years Over S years The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in net incomellexpenditurel for the year. 1.9 Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there 15 any indication that these assets have 27-

CRESCENT PURCHASING LIMITED NOTES TO THE FINANCIAL STATEMENTS (co￿lNUED) FOR THE YEAR ENDED 31 JUL Y2024 l. Accounting pollcies (Continued) suffered an impairment1055. If any such indication exists, the recoverable arnount of the asset is estimated in order to determine the extent of the impairment loss lif anyl. Intangible a55ets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired. 1.10 Fixed assets investments Fixed asset investments are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investment5 are asse55ed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in net income/lexpenditurel for the year. 1.11 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposlt5 held at call with bank5, Other shirt-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.12 Financial instruments The charity ha5 elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS102 to all of its financial instruments. Financial instruments are recognised in the charit(s balance sheet when the charity becomes party to the contractual provision of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial Statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to Settle on a net ba515 or to reali5e the asset and settle the liability simultaneously. 8a5icfinoncial a55et5 8asic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortlsed. Ba5icfinonci¢71 liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at t¥ansattion price unle55 the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at 28-

CRESCENT PURCHASING LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 JUL Y2024 l. Accounting policies Icontlnued) a market rate of interest. Financial liabilities classified as payable within one year not amortlsed. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that been acquired in the ordinary course of operations from suppliers. Amounts payable are tlas5if led as current liabilities if payment 15 due withln one year or less. If not, they are presented as non- current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition offinan¢lol Ilobllltles Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.13 Employee benef its The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.14 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. The cost of providing benefits under deflned benefit plans is determined separately for each plan using the projected unit credit method and is based on actuarial advice. The change in the net defined benefit liability ari51ng from employee service during the year is recognised a5 an employee cost. The cost of plan introductions, benefit changes, settlements and curtailments are recognised as inturred. The net interest element is determined by multiplying the net defined benefit liability by the discount rate, taking into account any change5 in the net defined benefit liability during the period as a result of contribution and benef it payments. The net interest is recognised in income/lexpenditurel for the year. Re-measurement changes comprise actuarial gains and losse5, the effect of the asset telling and the return on the net defined benefit liability excluding amounts included in net interest. These are recognlsed immediately in other recognised gains and1055es in 29-

CRESCENT PURCHASING LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JUL Y2024 l. Accounting policies Icontlnuedl the period in which they occur and are not reclassified to incomellexpenditurel in subsequent periods. The net defined benefit pension asset or liability in the balance sheet comprises the total for each plan of the present value of the defined benefit obligation lusing a discount rate based on high quality corporate bonds), le55 the fair value of plan assets out of which the obligations are to be Settled directly. Fair value is based on market price Information, and in the case of quoted securitie5 15 the published bid price. The value of a net pension benefit asset Is limited to the amount that may be recovered either through reduced contributions or agreed refunds from the scheme. 1.15 Basis of con501idation In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instrument5 155ued and liabilities incurred or assumed, plus costs directly attri butable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities atquired is recogni5ed a5 goodwill. The cost of the combination includes the estimated amount of contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in the previous periods are adjtjsted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at costs less impairfflent. The consolidated financial statements incorporate those of Crescent Purchasing Limited and all of its subsidiaries lie entities that the group controls through its power to govern the financial and operatinE policies so as to obtain economic benefits). Subsidiaries acquired during the year are consolidated using the purchase method. Their results are incorporated frow the date that control passes. All flnancial statements are made up 31 July 2024. Where appropriate, adjustments are made to the financial statements of subsidiarie5 to bring the accounting policies used in line with those used by other members of the group. All intra-group tran5aCtior15, balance5 and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised1055es are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Tenet Education Services Limited and Crescent Services (TPSI Limited have been included in the group financial statements uslng the purchasing method of accounting. Accordingly, the group statements of financial activities and statement of cash flows include the results and cash flows of Tenet Education Service5 Limited and Crescent Services ITPSI Limited. -30-

CRESCENT PURCHASING LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JUL Y2024 2. Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other source5. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on8oing basis. Revisions accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. During the current or preceding f inancial statements, no critical judgements or estimates were used in the preparation of these financial statements. 3. Charitsble activities Group 2024 Group 2023 Charity 2024 Charity 2023 Marketing premiums Services rendered Other income 3,360,311 2,816,772 3,288,091 2,793,070 2,342,724 2,195,908 131,185 114,910 439,075 421,239 5,834,220 5,127,590 3,727,166 3,214,309 4. Investments 2024 2023 Interest receivable 190,359 76,660 The majority, £183,43512023'. £56,787) of the Group's investment income of £190,359 12023.. £76,660) arises in Crescent Purchasing Limited from money held in interest bearing deposit accounts. 31-

CRESCENT PURCHASING LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JUL Y 2024 5. Charitable activitle5 Group 2024 Group 2023 Charity 2024 Charity 2023 Employee costs Occupancy costs Telephone Postage and stationery Insurance Legal costs Travel costs Recruitment and training Marketing and advertising Crescent learning Procurement partner and member shared income Health, Safety and employee wellbeing Consultancy fees Provision for bad debts Bank charges Other expenditure Donations to Charity ICT costs 2,874,547 2,794,450 69,591 84,706 29,439 28,358 5,753 5,325 63,269 56,056 112,2291 45,345 78,789 72,191 54,752 70,228 187,176 141,254 4,378 9,329 10,939 5,077 914,924 1,019,179 69,591 84,706 19,795 17,275 4,910 4,132 63,269 56,056 6,170 7,345 24,639 18,357 49,577 59,482 187,124 141,020 4,378 9,329 10,939 55,077 17,221 12,210 14,5121 2,484 8,983 2,000 73,394 10,587 12,201 3,520 2,635 7,228 loo 84,685 15,898 750 12511 1,608 8,353 2.000 52,172 9,594 17411 1,455 6,850 loo 59,182 3,478,184 3,433,275 1,435,846 1,548,398 Giving Back Activities (see note 61 231,366 34,130 231,366 34,130 Share of support C05ts15ee note 71 Share of governance cost5 (see note 71 1,179.061 1,086,717 1,055,723 27,939 28,303 17,808 953,211 16,925 4,916.550 4,582,425 2,740,743 2,552,664 Analysis by fund Unrestricted funds - general Unrestricted funds- designated Restricted funds- 'Giving Back" 4,685,184 4,548,295 2,509,377 2,518,534 226,394 34,130 226,394 34,130 4,972 4,972 4,916,550 4,582,425 2,740.743 2,552,664 -32-

CRESCENT PURCHASING LIMITED NOTES TO THE FINANCIALSTATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y2024 6. Giving B3ck activities Reinvestment activities payable into the education sector is expenditure made from the charity's designated and restricted funds towards agreed projects detailed in the Trustees report and note 22. Thi5 expenditure falls outside of standard operational costs and may lead to deficits in some years. The operational surplus that would have been stated had this reinvestment into the sector not happened is shown. Group 2024 Group 2023 Charlty 2024 Charitv 2023 Net income for the year Giving Back activities 1,120,211 231,366 622,325 1,213,636 34,130 231,366 737,500 34,130 Operational surplus 1,351,577 656,455 1,445,002 771,630 7. Group support costs Support Cost Governance Costs 2024 2023 Basis of allocation Employee costs Depreciation and mort15ation Audit fees Legal and professional Accounting services 1,019,434 1,019,434 913,037 Administration 159,627 159,627 8,260 173,680 Support 8,100 Governance 8,260 11,572 11,572 12,843 Governance 8,107 8,107 7,360 Governance 27,939 1,207,000 1,115,020 1,179,061 Analysed between Charitable activitie5 1,179,061 27.939 1,207,000 1,115,020 Governance costs include payments to the auditor5 of £8.26012023.. £8,100) for audit fees. 33-

CRESCENT PURCHASING LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JUL Y2024 Charity Support Cost Governance costs 2024 2023 Basis of allocation Employee costs Depreciation and amortisation Audit fees Legal and professional Accounting Services 1,019,434 1,019,434 913,037 AdmSnistration 36,289 36,289 5,100 40,174 Support 5,100 Governance 5,100 7,986 7,986 8,270 Governance 4,722 4,722 3,555 Governance 17,808 1,073.531 970,136 1,055,723 Analy5ed between Charitable activities 1,055,723 17,808 1,073,531 970,136 Governance costs include payments to the auditors of £5,10012023.' £5, 1001 for audit fees. 8. Net Movement in funds Group 2024 Group 2023 Charity 2024 Charitv 2023 Net movement in funds is stated after charging/lcreditingl Fees payable to the company's auditors for the audit of the company's financial statements Operating lease costs Depreciation of owned tangible fixed assets Amortisation of intangible assets 8,260 32,269 29,517 130,110 8,100 43,676 33,570 140,110 5.100 32,269 21,179 15,110 5,100 43,676 25,064 15,110 9. Trustees None of the trustees lor any persons connected with them), except for the Managing Director, received any remuneration during the year. Two trustees were reimbursed travelling expenses in the year of £12112023.. £161}. Note 10 includes further disclosure of remuneration of key management personnel. -34-

CRESCENT PURCHASING LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JUL Y2024 10. Employees Number of employees The average monthly number of employees during the year were.. Group 2024 Number 80 Group 2023 Number 80 Charity 2024 Number 40 Charity 2023 Number 38 Professional and administrative Employment costs 2024 2023 2024 2023 Wages and salaries Social security costs Other pension costs 3,254,180 2,992,228 1,463,914 1,445,556 342,553 309,248 230,235 145,808 297,248 406,011 240,209 340,852 3,893,981 3,707,487 1,934,358 1,932,216 On l April 2024 all employees of Tenet Education Services Limited transferred into Crescent Purchasing Limited, its parent company. There were no employee restructuring payments Iboth contractual and non-contractuall, either incurred or paid during the year12023: £27,9461. Included within other pension costs are current services costs and associated interest expense on defined benefit pension plans. During the year, the company recogni5ed current service costs and interest expenses from defined benefit pension plans of £6,000 12023: £198,000). Included within support costs are wages to the value of £1,019,434 for the Human Resources, Finance and Communications departments through virtue of shared Service to all the charitable activities. The number of employees whose annal remuneration was £60,000 or more. Group 2024 Number Group 2023 Number Charity 2024 Number Charity 2023 Number Directors Employees 15 Darren Lowe (Managing Director) is the only key management personnel associated with the direct running of the charity. Darren Lowe was paid total renumeration of £132,030 -35-

CRESCENT PURCHASING LIMITED NOTES TO THE FINANCIALSTATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JUL Y2024 12023.. £122,820). The remuneration for Darren Lowe was provided in his capacity of Managing Director of the charitable activities and not in his capacity of trustee of the charity. Included within total remuneration were pension contributions totalling £12,600 12023.. £11,0311. Darren Lowe resigned as a Trustee of the charity on 31 July 2024 and will act solely as Managing Director. 11. Taxation The charity 15 exempt f rom tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 12. Group intangible fixed assets Goodwill Customer relationship Brand Total Cost At l August 2023 and 31 July 2024 1,804,474 Amortisation and Impalrment At l August 2023 Amortisation chaiged for the year At 31 July 2024 69,003 366,523 2,240,000 1,742,236 62,238 60,754 322,010 2,125,000 8,249 44,513 115,000 1,804,474 69,003 366,523 2,240,000 Carrying amount At 31July 2024 At 31 July 2023 62,238 8,249 44,513 115,000 Charity intangible fixed assets Goodwill Cost At l August 2023 and 31 July 2024 Amortisation and impairment At l AugLJSt 2023 Amortisation charged for the year 1,250,000 1,250,000 At 31July2024 Carrying amount At 31 July 2024 At 31 July 2023 1,250,000 -36-

CRESCENT PURCHASING LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 13. Group other intangible fixed a55et5 Customer relationship management system Cloud based server Total Cost At l August 2023 and 31 July 2024 80,492 8,500 88,992 Amortisation and impairment At l August 2023 Amortisation charged for the year At 31July 2024 Carrying amount At 31July2024 42,719 13,410 3,683 46.402 1,700 15,110 5,383 61,512 56,129 24,363 3,117 27,480 At 31July 2023 37,773 4,817 42,590 Charity intangible fixed assets Customer relationship management 5VStem Cloud based server Total C05t At l August 2023 and 31 July 2024 80,492 8,500 88,992 Amortisation and Impalrment At l August 2023 Amortisation charged for the year At 31July2024 Carrying amount At 31July2024 42,719 13,410 56,129 3,683 46,402 1,700 15,110 5,383 61,512 24,363 3,117 27,480 At 31July2023 37,773 4,817 42,590 37-

CRESCENT PURCHASING LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR EIVDED 31 JUL Y2024 14. Group tangible fixed assets Leasehold improvements Plant and equlpment Fixtures and fittings Total Cost At l August 2023 Additions Less DIsp05als 58,757 74,577 18,122 122,5701 29,417 162,751 18,122 122,5701 At 31 July 2024 58,757 70,129 29,417 158,303 Depreclatlon and impairment At l August 2023 Depreciation charged in the year Less disposals 49,777 8,980 49,369 18,097 121,9361 45,530 26,669 125,815 2,440 29,517 121,9361 29,109 133,396 At 31 July 2024 58,757 Carrylng amount At 31July 2024 24,599 308 24,907 At 31July 2023 8,980 25,208 2,748 36,936 Charlty tanglble flxed assets Leasehold improvement5 Plant and Flxtures equipment and fittinEs Total Cost At l August 2023 Additions Less Disposals 58,757 42,330 9,064 110,0391 29,417 130,504 9,064 110,0391 At 31 July 2024 58,757 41,355 29,417 129,529 Depreciation and impairment At l August 2023 Depreciation charged in the year Less disposals 49,777 8,980 27,948 9,759 110,0391 27,668 26,669 104,394 2,440 21,179 110,0391 29,109 115,534 At 31 July 2024 58,757 Carrylng amount At 31 July 2024 At 31 July 2023 13,687 308 13,995 8,980 14,382 2,748 26,110 -38-

CRESCENT PURCHASING LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JUL Y2024 15. Charity fixed asset investments other Investments Cost or valuation At l August 2023 & 31 July 2024 Carrying amount At 31July2024 1,377,962 1,377,962 At 31July2023 1,377,962 2024 2023 Other investments comprise.. Investments in subsidiaries 1,377,962 1,377,962 16. Flnanelal Instruments Group 2024 Group 2023 Charity 2024 Charity 2023 Cariying amount of financlal assets Debt instruments measured at amort15ed cost Carrying amount of financial liabilitie5 Measured at amortised cost 1,127,178 937,557 794,241 718,555 496.442 497,861 484,848 355,504 17. Debtors.. amounts falling due withln one year: Group 2024 Group 2023 Charity 2024 Charity 2023 Trade debtors Amounts owed by subsidiaries Other debtors Prepayments and accrued income 399,360 363,430 72,725 63,689 6,613 81,795 2,871 2,884 834,676 630,963 2,871 847,591 2,884 641,366 1,249,822 1,007,680 916,885 779,331 ~39-

CRESCENT PURCHASING LIMITED NOTE5 TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2024 18. Creditors: amounts falling due wlthln one year Group 2024 GroLJP Charity 2024 Charity 2023 2023 Other taxation and social security Trade creditors Amounts owed to subsidiaries Other creditors Accruals and deferred income 334,020 306,828 104,706 86,096 200,904 154,318 97,970 77,662 1,830 11,291 7,424 404,238 281,363 11,955 20,196 429,952 404,345 880,633 817,465 714,403 522,597 Deferred income within the charity relates to suppliers, sponsorship of the CPL village within external exhibition51£3,6501, namely the Schools and Academies Show ISAASI which will be fully uti11sed in the November 2024 SAAS. £25,000 relates to a potential misreported spend from a framework supplier which will probably result in a credit being raised. The additional subsidiary deferred income within the Group figure relates to consultancy works being invoiced where completion has been delayed into next year. Deferred income Group Charity Balance at l August 2023 Released from previous years Resources deferred in the year 12,775 12,775 112,775} 112,7751 50,170 28,650 Balance at 31 July 2024 50,170 28,650 19. Defined benefit pension surplus / provision for liabilities The WYPF pension scheme value as at 31 July 2024 and show the company as having no pension asset. The latest actuarial valuation for the pension Scheme related to the period ended 31 March 2022. In accordance with applicable accounting standards, the asset value has been deemed to be unrecognisable on the basis that the company has no expectation of reduced future employer contributions at some point during the life of the plan. Although a pension asset is arising, this does not create an immediately realisable asset that can be expended for the specific purposes of the pension fund. -40-

CRESCENT PURCHASING LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JUL Y2024 Group 2024 Group 2023 Charity 2024 Charity 2023 Retirement benefit asset / obligations Note 20 790,000 790,000 790,000 790,000 20. Retirement beneflt schemes Defined contribution schemes The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. The charge to profit or loss In respect of defined contribution schemes was £243,000 12023.. £163,000). Deflned benefit schemes Key assumption5 2024 2023 Discount rate Expected rate of increase of pen510ns in payment Expected rate of salary increases Inflation assumption ICPII Pension accounts revaluations rate 4.90 2.50 3.75 2.50 2.50 4.90 2.60 3.85 2.60 2.60 Mortolity 05sumption5 The assumed life expectations on retirement at age 65 are: 2024 Years 2023 Year5 Retiring today Males Females 20.8 24.0 21.0 24.1 Retiring in 20 years Males Females 21.7 24.7 22.2 25.1 -41-

CRESCENT PURCHASING LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JUL Y2024 Amounts recognised in the profit and loss account: 2024 2023 Current service cost Net interest on defined benefit liabilityllassetl Other costs and income 318,000 198,000 1243,0001 386,000 143,000 1163,0001 Total costs 273,000 366,000 Amounts taken to other comprehensive income.. 2024 2023 Actual retum on scheme as5etS 312,000 255,000 Return on scheme assets excluding interest ificome Actuarial changes related to obligations 312,000 1,096,000 255,000 1751,0001 The amounts included in the balance sheet arising from the charity'5 obligations in respect of defined benefit plans are as follows.. 2024 2023 Present value of defined benefit obligations Fair value of plan assets Surplus in scheme 5,647,000 4,027,000 15,647,000) {4,817,0001 1790,0001 Movements In the present value of defined benefit obligations: 2024 2023 Liabilities at l August 2023 Current service cost Benefits paid Contributions from scheme members Actuarial gains and105ses Interest cost 4,027,000 318,000 1135,0001 143,000 1,096,000 198,000 5,647,000 4,185,000 386,000 {34,0001 98,000 1751,0001 143,000 4,027,000 At 31 July 2024 42-

CRESCENT PURCHASING LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JUL Y 2024 The defined benefit obligations arise f rom plans which are wholly or partly funded. Movements in the fair value of plan assets.. 2024 2023 Fair value of assets at l August 2023 Return on plan assets (excluding amounts included in netl Benefits Contributions by the employer Contributlgns by scheme members Other 4,817,000 4,677,000 312,000 1255,0001 {135,0001 134,0001 267,000 168,000 143,000 98,000 243,000 163,000 At 31 July 2024 5,647,000 4,817,000 The fair value of plan assets at the reporting period end was as follows.. 2024 2023 Equity instruments Debt instruments Property Cash Other 4,479,000 3,858,000 723,000 573,000 152,000 159,000 152,000 188,000 141,000 39,000 5,647,000 4,817,000 21. Designated and Restrlcted funds The income funds of the charity include the following designated and restricted funds which have been set aslde out of unrestricted funds by the trustees for specific purposes: Balance at Incoming Resources Balance at 01 August Resources expended 31Ju1y 2023 2024 Subsidised costs for Tenet On-Demand Supplier Awards Night Other education sector charity donations Sponsorshlp of Student Events/Activities Procurement Training Procurement Advi50ry Group IPAGI Facilitate Estates Group MarketinE and materials 3,800 25,000 20,000 286,779 3,800 25,000 900 200,668 19,100 488,793 10,000 4,720 2,640 3,450 528,703 402,682 10,000 4,768 2,640 4,400 347,387 48 950 412,682 231,366 -43-

CRESCENT PURCHASING LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JUL Y2024 Restricted funds relate to income received as a donation for use solely for the Giving Back Ireinve5tmentl initiative. During the year £12,182 was received and £4,972 expended in the grant funding exercise carried out during the year. 22. Analysi5 of net assets between funds Unrestricted Designated Restricted 2024 2024 2024 Total 2024 Total 2023 Fund balances at 31 July 2024 are represented by.. Intangible fixed assets goodwill Intangible fixed assets other Tangible a55ets Current assets Pensions and Provisions 115,000 27,480 24,907 6,603,168 27,480 42,590 24,907 36,936 7,710 7,131,871 5,863,521 790,000 7,710 7,184,258 6,848,047 520,993 6,655,555 520,993 23. Operating lease commitments At the reporting end date, the charity had outstanding commitment5 for future minimum lease payments under non-cancellable operating leases, which fall due as follows: Group 2024 Group 2023 Charity 2024 Charity 2023 Within one year Between two and five years In over five years 2,517 93,607 32,269 930 2,517 93,607 32,269 930 96,124 33,199 96,124 33,199 24. Related party transactlons The Charity has taken advantage of the exemption available in Section 33.IA of FRS 102 whereby it ha5 not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group. The Trustees are employed by institutions that are also members of CPC and benefit from the usage of its frameworks and Crescent Learning activities. Two Trustees (now resigned) were associated to Hopwood Hall College and Leeds College of Building which also accessed the procurement managed service provided by Tenet. -44-

CRESCENT PURCHASING LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2024 Grants payable from designated funds are available to all member institutions that pass the relevant criteria. This is therefore open to institutions which employ the trustees of the charity. No Trustees are involved in the review and approval of grant applications. 25. Subsldlarles Consolidated financial Statements for parent charitable companie5 are required under the Charity SORP IFR51021 Details of the Charity's subsidiaries on 31 July 2024 are as follows: Name of undertaking Registered offlce Nature of business Class of shares held % Held Direct Tenet Education Unlted Kingdom Provision of advisory Ordinary 100.00 Service5 Limited (No. and consultancy 030494741 service5 Crescent Services ITPSI United Kingdom Provision of advisory Ordinary 100.00 Limited (No. 100213981 and consultancy services All investments in subsidiaries are held at cost less provision for impairment and are eliminated upon consolidation. Tenet Education Services Limited will merge into Crescent Purchasing Limlted with effect from l August 2024. Crescent Services ITPSI Limited, formerly known as Tenet Procurement Services Llmlted will continue trading though changed its name to Crescent Services ITPSI Limited with effect from 2 August 2024. -45-

CRESCENT PURCHASING LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y2024 26. Cash generated from operations 2024 2023 Surplu5 for the year Adjustments for: Investment income recognised in statement of f inancial activities Amortisation and impairment of intangible assets Depreciation and impairment of tangible fixed a55et5 Difference between pension charge and cash contributions 1,120,211 622,325 1190,3591 176,6601 130,110 140,110 29,517 33,570 6,000 198,000 Movements in working capital.. Decrease/llncreasel in debtors Increase in creditors 1242,1421 1277,9771 63,168 130,005 Cash generated from operations 916,505 1,325,327 27. Post Balance Sheet Event On l August 2024 Tenet Education Services Limited will merge into its parent company, Crescent Purchasing Limited. All trade, assets and liabilities will transfer into the parent company after which Tenet Education Services Limited will be di5501ved. -46-

dJh.co.uk 0161 926 8558 . altrincham@djh.co.uk Bridge House Ashley Road Hale . Altrincham Cheshire . WA14 2UT DJH Nltlen Clarke Is a tradln9 name of DJH Mitten Clarke Umlted. Registered in England and Wales Nv. 0345L690. A list of our directors and their iualificitlQD5 can be vlewed at our reylstered office.

Management letter Prepared for the board of trustees of Crescent Purchasing Limited and subsidiaries For the year ended 31 July 2024

Crescent Purchasing Limited and subsidiaries – Audit findings letter 2024

Contents

Page
1 Introduction 1
2 Statutory audit communication 2
2.1 Objectivity and independence 2
2.2 Audit approach and materiality 4
2.3 Accounting policies 5
2.4 Significant findings 5
2.5 Accounting estimates and judgements 6
2.6 Reconciliation of audited profit/loss 6
2.7 Significant difficulties encountered during the audit 7
2.8 Accounting and financial controls 8
2.9 Management representations 8
2.10 Audit opinion 8
3 High risk areas 8
3.1 Other areas of focus 9
4 Other audit findings 14

Crescent Purchasing Limited and subsidiaries – Audit findings letter 2024

1. Introduction

We are pleased to set out in this document our report to the trustees of Crescent Purchasing Limited and subsidiaries for the year ended 31 July 2024.

Our responsibilities as auditors are set out in the International Standards on Auditing (UK and Ireland) (“ISAs”). We are responsible for forming and expressing an opinion on the financial statements that have been prepared by management with the oversight of those charged with governance. The audit of the financial statements does not relieve management or those charged with governance of their responsibilities.

We have carried out our audit in accordance with the terms of our engagement letter dated 22 April 2024 in order to express an audit opinion for UK statutory purposes on the financial statements of Crescent Purchasing Limited and subsidiaries for the year ended 31 July 2024. We have complied with the Financial Reporting Council’s Ethical Standard and all threats to our independence, as identified to you in our audit plan letter dated 29 August 2024, have been properly addressed through appropriate safeguards. No additional facts or matters have arisen during the course of the audit that we wish to draw to your attention and we confirm that we are independent and able to express an objective opinion on the financial statements.

In this report, we present the key findings from our audit, together with a commentary on the significant matters arising. The matters that have been reported are limited to those deficiencies identified during the audit which we have concluded are of sufficient importance to bring to the attention of those charged with governance. This report has been discussed comprehensively and agreed with Dave Owen.

This report has been prepared for the sole use of the trustees of Crescent Purchasing Limited and subsidiaries. No reports may be provided to third parties without our prior consent. Consent is, and will only be, granted on the basis that such reports are not prepared with the interests of anyone other than the company in mind and that we accept no duty or responsibility to any other party. No responsibilities are accepted by DJH Audit Limited towards any party acting or refraining from action as a result of this report.

We would like to express our thanks to all members of the company’s staff who assisted us in carrying out our work.

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Crescent Purchasing Limited and subsidiaries – Audit findings letter 2024

2. Statutory audit communication

2.1 Objectivity and independence

We conducted our audit in accordance with the Code of Ethics of the Institute of Chartered Accountants in England & Wales and the Ethical Standards published by the United Kingdom Auditing Practices Board. We have considered our independence and objectivity in respect to the audit for the year ended 31 July 2024.

In addition to auditing the financial statements we also provided, through other individuals, non-audit services to Crescent Purchasing Limited and subsidiaries for the year ended 31 July 2024. We have outlined below the safeguards that we have put in place to ensure that these services provided do not cause any breaches in our independence and objectivity in relation to the audit.

Non audit service provided Safeguards put in place to reduce the threat to our integrity, independence and objectivity Corporation tax advisory and This service is provided by a separate team from those who have audited the financial statements. compliance services

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Crescent Purchasing Limited and subsidiaries – Audit findings letter 2024

To maintain our independence as auditors we can also confirm that:

We confirm that, in our professional judgement, the firm is independent within the meaning of regulatory and professional requirements and the objectivity of the audit engagement partner and audit staff is not impaired.

2.2 Audit approach and materiality

Our audit planning has taken account of the issues highlighted through discussions with Dave Owen, together with our knowledge and understanding of the company.

We confirm that there were no restrictions on the scope of our audit procedures and we have been able to undertake our work as set out in our planning meeting.

In our planning we have taken account of the results of our risk assessments made in accordance with the guidance set by the ISAs. Our consideration of high risk areas is documented in full within section 3 of this report.

Legal and regulatory requirements

In undertaking our audit work we considered compliance with the following legal and regulatory requirements, where relevant:

Based on this rigorous process we have used our professional judgement and formed a materiality level. A matter is material if its omission or misstatement would reasonably influence the economic decisions of a user of the financial statements and the value at which if errors, on their own or in aggregate, were uncorrected would result in a potential qualified audit opinion. The audit materiality of the financial statements as a whole has been set at 1% of income.

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Crescent Purchasing Limited and subsidiaries – Audit findings letter 2024

We have considered this level of materiality based on the draft accounts for the year ended 31 July 2024 and are satisfied that it continues to be appropriate.

Underpinning materiality is a level of triviality, £3,000, at which any error or omission in excess of this value is recorded and reported to management.

2.4 Significant findings

There were no significant findings that we feel need bringing to the attention of the trustees.

2.5 Accounting estimates and judgements

In planning and carrying out our work, we applied a group materiality level to Crescent Purchasing Limited and subsidiaries of £60,000 based on 1% of income.

Depreciation is provided on a straight line basis on the cost of tangible fixed assets, to write them down to their estimated residual values over their expected useful lives.

The principal annual rates used were as follows:

2.3 Accounting policies

In preparing the financial statements of the company, trustees are required under FRS 102 to review the accounting policies on an annual basis to ensure they remain appropriate to the circumstances of the company and are properly applied.

Goodwill 8 years straight line
Customer relationships & brands 8 years straight line
Cloud-based server 8 years straight line
Leasehold improvements Over the life of the lease
Plant and equipment 3 – 6 years straight line
Fixtures and fittings 5 years straight line

We have reviewed the accounting policies selected and operated by the company, and are satisfied that they are acceptable.

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Crescent Purchasing Limited and subsidiaries – Audit findings letter 2024

2.6 Reconciliation of audited surplus/deficit

The profit/(loss) per the financial statements has been derived as follows:

Balance sheet Profit and loss account Profit and loss account
Dr (£) Cr (£) Dr (£) Cr (£)
Surplus/(deficit) per the draft trial balance 1,156,211
Defined benefit pension adjustment 790,000 790,000
Total - 790,000 790,000
Impact on surplus 790,000
Surplus/(deficit) per financial statements 366,211

There are no uncorrected material errors or omissions in isolation or aggregate.

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Crescent Purchasing Limited and subsidiaries – Audit findings letter 2024

2.7 Significant difficulties encountered during the audit

2.10 Audit opinion

We did not encounter any significant difficulties during the audit.

Based upon the findings and conclusions of our work, we expect to issue an unqualified audit opinion on the financial statements.

2.8 Accounting and financial control systems

During our audit we examined the design and implementation of the internal controls relevant to the accounting systems and procedures.

The review of internal controls was carried out with a view to expressing an opinion on the financial statements for the year and was not directed primarily towards discovering weaknesses or towards the detection of fraud. Therefore our comments on these systems include only those matters that have come to our attention as a result of our normal audit procedures, and consequently our comments should not be regarded as a comprehensive record of all weaknesses that may exist or of all improvements that might be made. Please refer to section 4 of this report.

2.9 Management representations

We include a copy of the draft management representation letter. There are certain specific representations which we are required by auditing standards to obtain from management as part of our audit procedures. In addition, we are required to obtain other representations on matters material to the financial statements where other sufficient appropriate audit evidence cannot be reasonably expected to exist.

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Crescent Purchasing Limited and subsidiaries – Audit findings letter 2024

3. Significant risk audit areas

Our review of the high risk audit areas as noted in our audit planning letter dated 29 August 2024 is as follows:

Issue Audit risk Audit procedures undertaken Conclusion
Revenue recognition in respect of
ensuring that all income received by
the company is recognised in the
correct period. The cut off on
income needs to be established
correctly to ensure that income is not
over or understated. Completeness
of income is to be established to
ensure all income receivable in the
year has been recognised
appropriately.		 Income not being
recognised in accordance
with FRS 102 recognition
criteria and per any
underlying agreements.		 The accounting policies adopted by
the company were reviewed,
considering the guidance available
in FRS 102 and the recognition
criteria of entitlement, certainty and
measurement.
A review of cut off has been
performed in line with the
accounting policies mentioned
above.
Discussions were held with
management and meeting minutes
reviewed to identify any unexpected
one-off sources of income and to
ensure that the accounting
treatment is appropriate.		 Income appears to have been
appropriately recognised by the
company with a suitable
accounting policy in line with FRS
102 being used.
Cut-off also appears to have
been applied correctly to
determine the correct period for
income to be recognised in.

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Crescent Purchasing Limited and subsidiaries – Audit findings

letter 2024

Issue Audit risk Audit procedures undertaken Conclusion
Management override of internal
controls		 Potential risk of
management override of
internal controls (this being
a presumed risk inherent
within current auditing
standards).		 A suitable level of professional
scepticism was applied throughout
all areas of audit testing.
We reviewed manual journals and
accounting estimates such as
accruals and provisions and consider
any pressures on management to
achieve results.		 No evidence of management
override of the system of internal
control was found throughout our
audit procedures.
Going concern It is the responsibility of the
trustees to assess the ability
of the company to
continue as a going
concern for a period of
not less than 12 months
following the anticipated
date of sign off.
This is a key risk given the
current economic climate.		 We have reviewed the
considerations of management
including cash flow forecasts and
budget reports in relation to the
going concern assumptions made.		 We concur with the trustees’
decision that going concern is an
appropriate basis on which to
prepare the financial statements.

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Crescent Purchasing Limited and subsidiaries – Audit findings letter 2024

3.1 Other areas of focus

Our review of other risk areas as noted in our audit planning letter dated 29 August 2024 is as follows:

Issue Audit risk Audit procedures undertaken Conclusion
Defined benefit pension scheme Incorrect treatment of the
pension valuation.
Financial statements are
not prepared in
accordance with FRS102
guidance, particularly
over recognising assets
positions.		 We obtained the FRS 102 pension
valuation as at 31 August 2024 and
assessed the disclosures and
accounting entries made by the
group.
We confirmed that the basis of
valuation was appropriate and that
the disclosures made in the financial
statements were prepared in
accordance with FRS 102.		 Pension valuation and disclosures
in the accounts appear
reasonable in line with the
valuation received and the
accounting requirements of
FRS102.
Intangible assets and investments Particularly due to the
expected hive up of assets
throughout the group,
work will be carried out to
verify the intangible assets
and their recoverable
amount and ahead of
such transfers.		 We have verified the existence and
valuation of the investments and
intangibles, in addition to the
amortisation incurred against
intangibles in the year.
The prospective accounting
treatment for the hive up of the
subsidiary was also verified.		 The intangible assets and
investments, in addition to the
disclosures surrounding this are
reasonable and in line with the
accounting treatment of FRS102.

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Crescent Purchasing Limited and subsidiaries – Audit findings letter 2024

4. Review of systems and internal controls

4.1 Introduction

During our audit we have reviewed the company’s systems in relation to accounting and internal control. Our review was solely for the purpose of the audit and our responsibilities under International Standards on Auditing (UK and Ireland). If you wished us to carry out a comprehensive review for weaknesses of systems in order to present detailed recommendations for improvement, we would need to carry out a more extensive review under a separate engagement.

We are pleased to report that nothing has come to out attention in respect to the systems of internal control.

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