2022-04-30-accounts - Croydon Business Venture Limited

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Contents
Company Information
Report ofthe Trustees		2-6
Report ofthe Auditors		7-8
Statement of Financial	Activities
Statement of Financial	Position	10-11
Notes to the Financial	Statements	12-17
Consolidated Statement of Financial Activities		18

Trustees		F O'Toole
		R Plant
		G6Thomas
		RSumption
		1A McCanca
		Councglor T	E	Letts
		JWalsham
		ECarpenter
		J M Dumb
		P ATaylor
		5Shah
		G CCumberbatch
Registered	Offlce	Weatherhgl	House
		New South Quarter
		23Whitestone		Way
		Croydon
		Surrey
		CRO 4WF
Company	Number	01731516(England			and	Wales)
Charity Number		1145658
Auditors		DSKPartners	LLP
		Chartered Accountants				and Statutory Auditors
		DSHouse
		306High Street
		Croydon
		Surrey
		CRO 1NG

CROYDON BUSINESSVENTURE LIMITED
REPORT OFTRUSTEES
forthe year ended 30th April 2022
BuRdlng Business Horizons Jcontlnuedf
There were a few changes implemented to the Autumn 2021 programme to enhance the experience			and delivery		as well	as provide
opportunity for additional proJects to be devised. These changes included reducing		the overall delivery to three months			and introducing		a
mentorlng scheme with experienced entrepreneurs and business owners from wider business networks			and trusted contacts			giving their
time to support the next generation ofentrepreneurs.
In total, 20 individuals volunteered and we were able to match 12to the participants		on the Autumn 2021cohort.		The	feedback from the
participants and men tora alike has been very positive to the extent that we wgl continue to include this as part ofthe				overall programme.
One ofthe Building Business Horizons participants said:
"the support rangy Is second to none. Especiogy after graduating	from BBH there hove been various		mixers, such		as 'Netwoiking'—
lunchtime networking while taking o srroiL The events have opened	me up to meet	with otiier alumni, shore experience			but also build my
professional network.
The support end the encouragement does not end when the course wraps up. Ihove		since been bockfor refreshers and under the capedly
ofpresenting digital marketing workshop far bootcomp enroiees. Boih courses are		crucial especially to Croydon as it is a hidden gem of
south London commerce, intarconnected gnks to other borouahs ond	central London.
Iam grateful for the relationship I have with Siartffp Croydan end continued support and encouragement. "	look forward to	the growth o/ my business and		reloiionship		with their
At the end ofthe year, the Spring 2022 programme had commenced	degvery with 13	participants being supported.
Local Community end Business Outreach
The pandemic during the year hes continued to restrict the amount	of opportunities	to attend events physically and hence our ability to
meet the local community compared to previous years. However, we have been able to undertake the following wh				get adhering		to CDVID-
19restrictions and guidance:
A series of weekly onhne accountability sessions to enable	our graduates	and wider business	community	to meet		and share
experiences during the winter lockdown
This developed into a regular in-person 'netwalking' session to	Incorporate a networking opportunity		while keeping		active	in our local
public park, walking around the local Wandle Park
A sponsored networking event was held on 11November 2D21to bring together our business community and				alumni to learn about
lean Innovation tools available to them. This event also allowed us to ask our community their opinion and feedback						on which
potential future events and workshops would benefit them in	the future. This event also attracted		sponsorship		from the National
Enterprise Network and was attended by 70people
A dedicated celebration event for International Women's Day	on 8 March 2022 attended by over 60 people.			This	event focused on
inspirational female Croydon residents who shared their stories	to raise the bar	ofwhat can be achieved in business			with time, effort
and commitment.
Awards and recognition
We were thrilled to win an award In the 2021Croydon Business Resilience Awards where we won a Commended in				the	Outstanding Team
category.
In addition, one of our members of staff was highly commended In the Enterprise		Support Champion of	the Year	award in the National
Enterprise Network Awards 2021.
Challenges
BuufnBes Rates
The charity paid a total ofES,262AO on Business Rates between May	2021and April 2022, with some offices		still receiving		charges	related to
the previous financial year.
Until 2019,the charity was given an additional 20% rate relief in addition to the 80%		discount that aR charities are entitled to as				negotiated
with Croydon Council by senior management and the then chair, David Robinson. In		2019,Croydon Councg	were no	longer able		to honour
this additional 20%.This was always charged in total to us for the whole building, which was then divided			per sR ft and		passed	on to the
licensees in their monthly rent.

		Notes	Unrestricted	Restricted	Total	Total
			Furlds	Funds	Funds	Funds
			2022	2022	2022	2021
			E	E	E	E
INCOMING RESOURCES
Activities for generating	funds		322,440		322,440	352,242
Grants received			108,126		108,126	51,551
Investmentincome			7,272		7,272	4,502
TOTAL INCOMING RESOURCES			437,838		437,838	408,295
RESOURCES EXPENDED
Charitable activities			421,637		421,637	456,165
Governance			3,250		3,250	2,475
TOTAL RESOURCES EXPENDED			424,887		424,887	458,640
NET INCOME/(EXPENDITURE)		AND NET MOVEMEF	12,951		12,951	(50,345)
IN FUNDS BEFOREGAINS		AND LOSSESON
INVESTMENTS
Net (loss)/gain on Investments			(4,016)		(4,016)	31,261
NET MOVEMENT IN FUNDS BEFORETAXATION			8,935		8,935	(19,084)
Taxation						(5)
NET MOVEMENT IN FUNDS			8,935		8,935	(19,089)
TOTAL FUNDS BROUGHT FORWARD			143,066		143,066	162,155
TOTAL FUNDS CARRIED FORWARD			6152,001		E152,001	E143,066

				2021
	Notes
FIXEDASSETS
Tangible assets			71,201		97,089
Investments			290,521		287,860
			361,722		384,949
CURRENT ASSETS
Debtors		28,332		23,594
Cash at bank and In hand		154,219		96,601
		182,551		120,195
CREDITORS
Amounts faRing due within one year	10	(162,272)		(102,078)
NETCURRENTASSETS			20,279		18,117
CREDITORS
Amounts falling due after more than
one year			(M0,000)		(260,000)
NET ASSETS			E152,001		E143,066
FUNDS
Unrestricted funds	12		152,001		143,066
Restricted funds
TOTALFUNDS	13		E152,001		E143,066

					2021
		Notes
FIXEDASSETS
Tangible assets
Investments				290,548		287,887
				290,548		287,887
CURRENTASSETS
Debtors			3,095		55,618
Cash at bank and	in hand		39,605		11,272
			42,700		66,890
CREDITORS
Amounts falling due within one year		10	(35,768)		(36,234)
NETCURRENTASSETS				6,932		30,656
CREDITORS
Amounts falling after more than one				(230,00D)		(260,000)
NET ASSETS				E67,480		E58,543
FUNDS
Unrestricted funds		12		67,480		58,543
Restricted funds
TOTALFUNDS				E67,480		E58,543

NET MOVEMENT IN FUNDS			2022		2021
			E		E
The net movement in funds	is stated after charging;
Depreciation			30,992		33,996
Auditor's Remuneration - Non audit fees			7,229		7,635
Auditor's Remuneration -Statutory audit			3,250		2,475
EMPLOYEES AND STAFF COSTS			2022		2021
In aggregate the number of	fug and part time persons employed
during the year was:
Chantable Operations
Staff costs were as follows:
Salaries and Wages		E	215,413	E	230,805

None ofthe trustees received any remuneration	during the year (2021:6NIL).
ANALYSIS OFTOTAL RESOURCES EXPENDED	2022	2022	2022	2021
	Staff Costs	Other	Total	Total
	E	6	E	6
Unrestricted
Direct charitable expenditure	215,413	206,224	421,637	456,165
Governance costs		3,250	3,250	2,475
Unrestricted resources expended	215,413	209,474	424,887	458,640
Restricted resources expended
TOTAL RESOURCES EXPENDED	E215,413	6209,474	E424,887	E458,MO

TANGIBLE ASSETS	ShortTerm	Fixtures	IL	Plant, Machinery	Plant, Machinery	Total
Group	Leasehold	Fittings		6Equipment
	Improvements
	E
Cost
At 1st May 2021	202,925	163,813		150,630		517,368
Additions			407		4,697	5,104
Disposals				(7,670)		(7,670)
At 30th April 2022	F202,925	6164,220		E147,657		E514,802
Depreciation
At 1st May 2021	148,935	139,959		131,385		420,279
Disposals				(7,670)		(7,670)
Chargeforyear	19,986	5,816			5,190	30,992
At 30th April 2022	E168,921	E145,775		E128,905		E443,601
Net BookValue
At 30th April 2022	534,004	518,445		E18,752		E71,201
At 1st May 2021	653,990	E23,854		619,245		E97,089
		Short Term		Fixtures	0	Total
Company		Leasehold		Fittings
		Improvements
		6
Cost
At 1st May 2021
Dlsposals
At30th Apnl2022
Depreciation
At 1st May 2021
Disposals
At 30th April 2022
Net BookValue
At 30th April 2022
At1stMay2021

FIKEDASSET INVESTMENTS	FIKEDASSET INVESTMENTS	FIKEDASSET INVESTMENTS	FIKEDASSET INVESTMENTS				Shares In	Shares In
							Group		Other	Total
Group							undertakings		Investments
							6		6
Cost
At 1st May 2021									287,860	287,860
Additions									151,932	151,932
Disposal									(129,758)	(129,758)
Revaluations									(19,513)	(19,513)
At 30th April 2022									290,521	290,521
Net BookValue
At 30th April 2022									E290,521	E290,521
At 1st May 2021									E287,860	E287,860
Company
At 1stMay 2021								27	287,860	287,887
Additions									151,932	151,932
Disposals									(129,758)	(129,758)
Revaluations									(19,513)	(19,513)
At 30th April 2022								627	E290,521	E290,548
The chanty has the		fogowlng Investments,		both ofwhich are		incorporated	in the United Kingdom:
				No.	ofordinary shares		Nominal value pershare		Percentage of Issued capital	Purchase price
CBV(Business	Cent	(Dormant)				2		61	100	62
Croydon Enterprise		Agency Limited				25		El	100	625
DEBTORS									2022	2021
Gi'oup									E	6
Trade debtors									8,189	8,405
Prepayments									20,082	15,189
Other Debtors									61
									E28,332	E23,594
Company									6
trade debtors									1,402
VAT recoverable									61
Amounts owed	by	group undertakings							1,632	55,523
Prepayments										95
									E3,095	E55,618
CREDITORS: amounts			falling due within one year						2022	2020
									E	E
Groiip
Trade creditors									41,150	18,978
Socialsecurlty	and	othertaxes							10,569	9,116
Other creditors									73,871	36,453
Accruals and deferred			Income						6,993	7,709
Deferred income									29,689	29,822
									E162,272	E102,078

10	CREDITORS:amountsfaglngdue	CREDITORS:amountsfaglngdue	withinoneyear(continued)
	Company				6
	Socialsecurity and othertaxes			3,149	3,541
	Other creditors			930
	Accruals			2,0DO	2,871
	Deferred Income			29,689	29,822
				E35,768	E36,234
11	CREDITORS; amounts	faglng	due after more than one year
	Group			2022	2021
	Deferred income			E230,000	6260,000
	Company			2022	2021
	Deferred Income			6230,000	6260,000

12	UNRESTRICTED FUND
	Group		Balance at	Incoming		Outgoing	Balance at
			1st May 2021	resources		resources	30th Aprg 2022
	General unrestricted	funds	E143,066	E433,822		E(424,887)	E152,001
	Company		Balance at	Incoming		Outgoing	Balance at
			1st May 2021	resources		resources	30th Aprg 2022
	General unrestricted	funds	E58,543	E121,603		E(112,666)	E67,480
	There are no restdicted funds.
13	ANALYSIS OF NET ASSETS BETWEEN FUNDS			2022		2022	2022
				Unrestricted		Restricted	Total
	Forthe year ended 30th Aprg 2022			Funds		Funds	Funds
				E		E	E
	Tangible Assets			71,201			71,201
	Investments			290,521			290,521
	Current Assets			182,551			182,551
	Current Liabilities			(162,272)			(162,272)
	Long-term Liabilities			(230,000)			(230,000)
	Total Net Assets			E152,001	E		6152,0D1

		2021		2021	2021
		Unrestricted		Restricted	Total
		Funds		Funds	Funds
		6		6	6
Tangible	Assets	97,089			97,089
Investments		287,860			287,860
Current	Assets	120,195			120,199
Current	Liabilities	(102,078)			(102,078)
Long-term Liabilities		(260,00D)			(260,000)
Total Net Assets		E143,066	E		E143,066

				2022	2022	2022	2021
				Unrestricted	Restricted	Total	Total
				Funds	Fuiirls	Funds	Funds
				6	E	8	E
INCOMING RESOURCES
Rental and service charge			Income	322,440		322,440	352,242
Grants received				108,126		108,126	51,551
Investment Income				7,272		7,272	4,502
TOTAL INCOMING RESOURCES				437,838		437,838	408,295
RESOURCES EXPENDED
Charitable activities
Staff costs				200,369		200,369	227,186
Staff social security				15,044		15,044	3,619
UtBities				45,218		45,218	46,810
Service charge				30,798		30,798	26,256
Publications and sub scdiptions							784
Legal and professional				10,040		10,040	9,433
Management Fees				600		600
Insurance				3,843		3,843	5,033
Security				19,376		19,376	18,706
Photocopier				2,266		2,266	2,368
Repairs and mamtenance				32,957		32,957	30,451
Printing, postage and		stationery		1,164		1,164	2,801
Advertising				8,104		8,104	18,335
Training				559		559	4,227
lysupport				10,067		10,067	10,232
Depreciation
Shortleasehold				19,986		19,986	19,985
Fixtures and fittings				5,816		5,816	7,806
Plant and machinery				5,036		5,036	6,205
Amortization on yyebsite				154		154
Loss on Disposal of Investments							(13)
Bad debt				1,501		1,501	4,607
Vat non-recoverable							562
Bank charges				1,073		1,073	1,270
Sundry expenses				7,666		7,666	9,502
				(421,637)		(421,637)	(456,165)
Governance costs
Staffsalaries
Audit fees				3,250		3,250	2,475
TOTAL RESOURCES EXPENDED				(424,887l		(424,887)	(458,640)
NET 5URPLUS/(DEFICIT)	FOR THE YEAR			12,951		12,951	(50345)
(Loss)/Gain on revaluation		ofmvestments		(4,016)		(4,016)	31,261
Taxation on charitable activities							(5)
NET INCOMING/(OUTGOING)			RESOURCES	E8,935		E8,935	E(19,089)