##
|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|
||||2022||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|
|||||2022||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|
|7|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)|