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← Croydon Business Venture Limited

2025-04-30-accounts

CROYDON BUSINESS VENTURE LIMITED

CONSOLIDATED FINANCIAL STATEMENTS

for the year ended 30th APRIL 2025 Company Number 01731516 Charity Number 1145658

Innovi Advisors Ltd Chartered Certified Accountants & Statutory Auditors

CROYDON BUSINESS VENTURE LIMITED CONSOLIDATED FINANCIAL STATEMENTS for the year ended 30th April 2025

Contents

Company Information 1
Report of the Trustees 2-6
Report of the Auditors 7-9
Statement of Financial Activities 10
Statement of Financial Position 11-12
Notes to the Financial Statements 13-18
Consolidated Statement of Financial Activities 19

1

CROYDON BUSINESS VENTURE LIMITED COMPANY INFORMATION for the year ended 30th April 2025

Trustees P A Taylor
J M Gumb
S Shah
G C Sanya
D Miller
C Francis
N Ginsburg Appointed 1 October 2024
C Humphrey Appointed 3 September 2025
S Woodrow Appointed 1 July 2025
Registered Office Weatherhill House
New South Quarter
23 Whitestone Way
Croydon
Surrey
CR0 4WF
Company Number 01731516 (England and Wales)
Charity Number 1145658
Auditors Innovi Advisors Ltd
Chartered Certified Accountants and Statutory Auditors
163 Herne Hill
London SE24 9LR

2

CROYDON BUSINESS VENTURE LIMITED REPORT OF TRUSTEES for the year ended 30th April 2025

The Trustees, who are directors of Croydon Business Venture Limited (charity number 1145658, company number 01731516), present their report and the audited financial statements for the year ended 30th April 2025.

Who we are

Croydon Business Venture Limited, which trades as StartUp Croydon, is a Charity and is governed by its Memorandum and Articles of Association. The company has two wholly owned subsidiaries, Croydon Enterprise Agency Limited who primarily let small offices and workshops to start ups and small businesses and CBV (Business Centre) Limited, which is dormant. The overall management of the charity rests with the Trustees who meet bimonthly. They ensure that the objects of the charity are being clearly adhered to, that it is financially viable and establish the overall strategy. They delegate the day-to-day management of the charity to the Chief Executive Officer and staff. The Trustees have clearly defined terms of reference.

What we do

Despite a continued challenging economic situation for the charity and the community it serves, this year has been one of growth in terms of the facilities, services and projects that the charity is providing.

Throughout the year we benefited from funding from the UK Shared Prosperity Fund through both Croydon Council and Greater London Authority through the continued delivery of the London E-Business Support Programme and smaller contracts.

Governance

We take pride in our governance structure and have a trustee board of 9 people consisting of local business owners, managers, bank managers, community organisers and accountants. The Board of Trustees met in-person four times during the year and informal online Board meetings.

New Trustees are selected through a selection process with the chair of the Board of Trustees and the CEO and attend one or two board meetings as observers before starting their position.

Resignations

The following resignations were received during and subsequent to the year end.

Appointments

New Trustees joining in 2024-2025 were

As well as undertaking their roles as board members, Trustees also continued to volunteer their time and expertise to further support entrepreneurs and business owners through delivery of workshops, masterclasses and 1-1 advice sessions on our Start Up & Go Bootcamps and other initiatives including mentoring.

Staffing

The completion of the LONDON E-Business Support Programme on 31 March 2025 resulted in the two business advisers and the deputy project manager fixed term contracts coming to an end. The deputy project manager was retained and employed as the General Manager of the Creative Digital Lab as they were an experienced film producer.

This year also saw the charity’s long serving Operations Manager leave their role and one person being recruited as a receptionist.

Volunteers

We continued to benefit from the support of volunteers from the trustee board and established business owners and support providers who gave their time to help deliver expert-led sessions on our business startup programmes and growth initiatives, provide mentoring and guidance to entrepreneurs across Croydon and South London and help bring innovation and creativity to life in our Creative Digital Lab.

Environmental Achievements

We continue to take our responsibility for the environment seriously and are committed to making sure the planet’s resources remain sustainable.

3

CROYDON BUSINESS VENTURE LIMITED REPORT OF TRUSTEES for the year ended 30th April 2025

Social

Our core aim as a charity is to support people to achieve their goals and become the best that they can be for themselves, their family and their community. This year we have provided work experience opportunities for one Year 10 student from local schools.

Diversity, Equity and Inclusion

Our employees and Trustees reflect the diverse demographic of Croydon – our Trustee board comprises 25% from Black and Asian heritage and 42% female.

Training / 1-1 advice sessions

Throughout the year we delivered 11 one day training bootcamps which were attended by 81 participants. We also delivered other development initiatives for entrepreneurs including a Get Ready For Investment programme and an Introduction to Social Enterprise course.

Get Ready For Investment

During the year, a pilot investment initiative was launched by one of our former Chairmen, who, following the sale of his businesses and retirement, wished to continue supporting start-ups through potential investments and mentoring. Rather than taking on all the associated risk himself, he gathered a pool of investors to explore opportunities to back early-stage and growth-focused businesses.

While the charity was not directly involved in introducing or brokering funding, we delivered four training sessions designed to help eligible businesses strengthen their understanding of investment processes, pitching, and working with investors. This training was funded by Croydon Council under the UK Shared Prosperity Fund (UKSPF), and we engaged expert speakers to lead each session. The total funding contribution from Croydon Council for the training element amounted to £15,000.

The initiative attracted 33 expressions of interest, which were carefully reviewed, with eligible businesses invited to register and participate. Each completed baseline and follow-up assessments to measure knowledge and skills gained through the programme. Of those who took part, 12 businesses went on to pitch their ideas to the investor panel. Although no direct investments were made at this stage, several entrepreneurs were paired with panel members for continued mentoring and advice.

It provided valuable insights into the investment landscape for participating businesses, enhanced the charity’s visibility within the local enterprise community, and demonstrated the potential for replicating this model in future.

Introduction to Social Enterprise

In March 2025, funded by Croydon Council through the UKSPF, we partnered with a specialist trainer with experience in supporting businesses with purpose and social enterprises to deliver a two day introduction to social enterprise course. The course was also delivered by guest speakers who were experts in funding and finance, impact measurement, branding and storytelling.

This was attended by seven participants.

Events

We continued to engage with and provide opportunities for local residents and businesses to develop themselves and support their business growth through various events during the year.

Key events that were delivered include:

I Mean Business – we hosted a weekly meet-up and support group for female entrepreneurs run by female entrepreneur, pastor and motivational coach. The group supported peer-centred learning, support and mentoring and guest speakers regularly attended to encourage participants to take the next step on their amazing journeys.

We also continued to host the monthly business networking group First Friday .

Celebrating Croydon’s Creative Journey

As the London Borough of Culture designation came to a close, we hosted a special networking event on 27 June 2024 to celebrate the growth and achievements of Croydon’s creative community. The event reflected on the borough’s progress while looking ahead to future opportunities in the creative and digital sectors.

4

CROYDON BUSINESS VENTURE LIMITED REPORT OF TRUSTEES

for the year ended 30th April 2025

Event Highlights:

Keynote speakers included Croydon CEZ Programme Manager, who outlined ongoing opportunities for residents in the creative sector, and lecturers from UAL, who shared the outcomes of an Unreal Engine training course delivered at the Creative Digital Lab, showcasing the new career routes emerging for local people.

The event provided a valuable platform for networking among creative business owners across South London and reinforced our commitment to supporting a thriving, innovative creative economy.

Projects

We continued to identify project opportunities to support our business community and local residents.

Creative Digital Lab

A major focus this year has been the further establishment of the Creative Digital Lab (CDL), which was launched last year. It aims to support local creatives and businesses with state-of-the-art equipment to develop their digital creative skills as well as support career pathways for local people. It provides access to a virtual production studio, post-production editing suite, podcasting and voice over recording studio and technical room, training facilities with the latest creative software and suite of MacBook Pro laptops as well as a green room for users of the lab to rest, relax and get ready for their creative projects.

The CDL celebrated its first birthday in November 2024 with an event attended by stakeholders including the South London Partnership, Croydon Council and local creative businesses.

Throughout the year we reached out to creative businesses and youth based organisations, schools and charities to support their beneficiaries to deliver their own podcasts and creative projects and discover the potential that a career in the creative industries could provide.

Grab The Lab

A campaign called Grab The Lab was launched to celebrate creativity and innovation through an open call to individuals and businesses to make use of the Creative Digital Lab. The aim was to showcase the cutting-edge potential of the studios, particularly in virtual production and podcasting—technologies that are often out of reach for many local creatives.

Developed as a marketing initiative to raise awareness of the new facility, the project was delivered in collaboration with local creative professionals and supported by LSBU through funding and knowledge exchange. This collaboration helped strengthen the technical skills of the in-house team while broadening the facility’s creative network.

The campaign invited participants to explore the space and create original content using the advanced equipment and professional support available. The results far exceeded expectations, leading to an increase in engagement, the creation of high-quality content, and the development of valuable new skills among participants.

The selected winners represented a wide range of disciplines, including music, gaming, wellness, education, and digital media. Their projects demonstrated both the versatility of the facility and the depth of creative talent within the community. Each used the opportunity to produce distinctive work—from immersive music videos and cinematic scenes to podcasts and educational content—showcasing the power of accessible, highend creative technology to unlock fresh ideas and collaborations.

London E-Business Support Programme

This year also saw the completion of the UK Shared Prosperity Fund funded London E-Business Support Programme which helped businesses in the South London Partnership sub-region of Croydon, Merton, Sutton, Kingston and Richmond to transform their business through increasing the use of digital tools available to help with their transformation.

Our dedicated e-Business advisers were able to support over 182 businesses through advising on improvements to their websites, social media marketing strategies and making their management processes more efficient through introduction of CRM systems. Through this support we were able to assist businesses to create six jobs, safeguarded 181 jobs, 13 access new markets and 14 introduce new products or services.

5

CROYDON BUSINESS VENTURE LIMITED REPORT OF TRUSTEES for the year ended 30th April 2025

The successes of the businesses supported was celebrated at a festive showcase event in December 2024 which saw 12 businesses exhibiting at a mini trade fair, workshops on using AI in business and creating photo and video content on smartphones. We also had a panel of local business owners supported through the programme who debated their experiences of using and moving to online sales platforms.

Office / Business Services

A key part of our business model, pre-pandemic, has been through the provision of office space, meeting rooms, co-working facilities and virtual office services provided to start-up and established businesses, charities and social enterprises.

Our tenants and virtual office clients vary; however, a high proportion of health and social care businesses use our offices at Weatherill House which was also the case during this period.

Partnerships / Sponsorships

This year has seen an increase in our formal partnerships through the projects we have introduced as well as continued relationships with University of the Arts London (UAL), LSBU Croydon, the National Enterprise Network and Business for London.

Challenges and Future Focus

The main challenge faced this year has been the commercialisation of the Creative Digital Lab, however, strategies continued to evolve and be implemented to identify and attract users of the space.

With the availability of funding and continued opportunities from the UK Shared Prosperity Fund reducing due to it being replaced by other government business support initiatives at the end of March 2025, we will continue to identify and apply for UKSPF contracts and initiatives provided by Croydon Council.

We look forward to building on our achievements this year through the delivery of the Creative Digital Lab and supporting creatives, local businesses, individuals, learning and training providers and community organisations with more exciting initiatives and projects in the planning stages.

Financial review

The results for the year ended 30th April 2025 show an overall surplus of £25,652 (2024: surplus of £33,837).

Reserves policy and risk management

The Trustees have implemented a risk management strategy which comprises:

The Trustees aim to carry reserves of £100,000 to cater for any downturn in activities. In order to achieve this the Trustees monitor income, expenditure and cash flow through their bi-monthly meetings.

Statement of public benefit

The Trustees have paid due regard to the guidance on public benefit provided by The Charity Commission and are confident that the work of the charity meets all the criteria for public benefit.

6

CROYDON BUSINESS VENTURE LIMITED REPORT OF TRUSTEES for the year ended 30th April 2025

Trustees

The Trustees who served in office throughout the year are as follows

Trustees
P A Taylor
J M Gumb
S Shah
G C Cumberbatch
C Rutherford Resigned 1 July 2025
M Burgess Resigned 3 September 2025
D Miller
C Francis
N Ginsburg Appointed 1 October 2024
S Woodrow Appointed 1 July 2025
C Humphrey Appointed 3 September 2025

When appointing Trustees the company looks at skill gaps within the current board and thereby identify the skills that are needed. The company would then search for appropriate candidates. P A Taylor as chairman would provide induction for the Trustees as he has the requisite knowledge. External training would also be offered.

Statement of Trustee's Responsibilities

The Trustees are required by law to prepare financial statements for each financial year, which give a true and fair view of the financial activities of the charity and of its financial position at the end of the year. In preparing those financial statements, the Trustees are required to:

The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention of fraud and other irregularities

So far as the Trustees are aware, there is no relevant audit information of which the company's auditors are unaware, and they have taken all of the steps necessary that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Advantage is taken in preparing the Trustees' report of the special exemptions applicable to small companies conferred by Part 15 of the Companies Act 2006 and the Financial Reporting Standard 102 Section 1A.

This report was approved by the Trustees on 14th January, 2026.

P A Taylor Chair of Trustees

7

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CROYDON BUSINESS VENTURE LIMITED

Opinion

We have audited the financial statements of Croydon Business Venture Limited (the 'parent company') and it's subsidiaries (the 'group') for the year ended 30 April 2025 which comprise the Statement of Financial Activities, Statement of Financial Position, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2016. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other then the company or the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's 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

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Trustees, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

8

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CROYDON BUSINESS VENTURE LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the Statement of Trustees' Responsibilities, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and parent company'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 directors either intend to liquidate the group or parent company to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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 a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect 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:

We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The key laws and regulations we have considered in this context included the Companies Act 2006, pension and tax legislation. In addition, we have considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. The

extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion."

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

9

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CROYDON BUSINESS VENTURE LIMITED

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them 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 company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Sheetal Shah FCCA (Senior Statutory Auditor)

for and on behalf of Innovi advisors ltd Chartered Certified Accountants and Statutory Auditors 163 Herne Hill London SE24 9LR

Date: 14th January 2026

10

CROYDON BUSINESS VENTURE LIMITED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30th April 2025

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----- Start of picture text -----
Notes Unrestricted Restricted Total Total
Funds Funds Funds Funds
2025 2025 2025 2024
£ £ £ £
INCOMING RESOURCES
Activities for generating funds 402,738 - 402,738 373,420
Grants received 315,746 - 315,746 230,071
Investment income 8,234 - 8,234 8,988
TOTAL INCOMING RESOURCES 726,718 - 726,718 612,479
RESOURCES EXPENDED
Charitable activities 6 698,117 - 698,117 589,269
Governance 6 3,900 - 3,900 3,588
TOTAL RESOURCES EXPENDED 702,017 - 702,017 592,857
NET INCOME/(EXPENDITURE) AND NET MOVEMENT 24,701 - 24,701 19,622
IN FUNDS BEFORE GAINS AND LOSSES ON
INVESTMENTS
Net gain/ (loss) on investments 951 - 951 14,200
NET MOVEMENT IN FUNDS BEFORE TAXATION 25,652 - 25,652 33,822
Taxation - - - 15
NET MOVEMENT IN FUNDS 25,652 - 25,652 33,837
TOTAL FUNDS BROUGHT FORWARD 157,008 - 157,008 123,171
TOTAL FUNDS CARRIED FORWARD £182,660 - £182,660 £157,008
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All transactions are derived from continuing activities. All recognised gains and losses are included in the statement of Financial Activities.

11

CROYDON BUSINESS VENTURE LIMITED Company Number 01731516 CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 30th APRIL 2025

Notes
FIXED ASSETS
Tangible assets
7
Investments
8		 £
2025		 £
349,750
227,788		 £
2024		 £
482,014
217,978
CURRENT ASSETS
Debtors
9
Cash at bank and in hand		 104,770
78,664		 577,538 134,316
65,621		 699,992
CREDITORS
Amounts falling due within one year
10		 183,434
(242,141)		 199,937
(266,357)
NET CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than
one year
11		 (58,707)
(336,171)		 (66,420)
(476,564)
NET ASSETS £182,660 £157,008
FUNDS
Unrestricted funds
12
Restricted funds		 182,660
-		 157,008
-
TOTAL FUNDS
13		 £182,660 £157,008

In preparing these financial statements the directors have taken advantage of the exemptions applicable to small companies conferred by Part 15 of the Companies Act 2006.

Approved by the Trustees on 14th January 2026 and signed on their behalf by

P A Taylor Chair of Trustees

12

CROYDON BUSINESS VENTURE LIMITED Company Number 01731516 COMPANY STATEMENT OF FINANCIAL POSITION as at 30th APRIL 2025

Notes
FIXED ASSETS
Tangible assets
7
Investments
8		 £
2025		 £
-
227,815		 £
2024		 £
-
218,005
CURRENT ASSETS
Debtors
9
Cash at bank and in hand		 51,816
13,211		 227,815 76,019
14,089		 218,005
CREDITORS
Amounts falling due within one year
10		 65,027
(54,703)		 90,108
(65,626)
NET CURRENT ASSETS/ (LIABILITIES)
CREDITORS
Amounts falling after more than one year
11		 10,324
(140,000)		 24,482
(170,000)
NET ASSETS £98,139 £72,487
FUNDS
Unrestricted funds
12
Restricted funds		 98,139
-		 72,487
-
TOTAL FUNDS £98,139 £72,487

In preparing these financial statements the directors have taken advantage of the exemptions applicable to small companies conferred by Part 15 of the Companies Act 2006.

Approved by the Trustees on 14th January 2026 and signed on their behalf by

P A Taylor Chair of Trustees

13

CROYDON BUSINESS VENTURE LIMITED NOTES TO THE FINANCIAL STATEMENTS for the year ended 30th April 2025

1. ACCOUNTING POLICIES

Statutory Information

Croydon Business Venture Limited is a private company, limited by guarantee, registered in England and Wales. The registered office and registration number can be found on the company information page.

The presentation currency of the financial statements is the Pound Sterling (£) to the nearest pound.

Basis of preparation of financial statements

The financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under historical cost convention.

The company has taken advantage of the exemption from preparing a cash flow statement on the grounds that it qualifies as a small company under the Companies Act 2006.

Going Concern

As part of the Trustees' assessment of going concern, they have prepared detailed cash flow and profit and loss forecasts for the next 12 months. The forecasts have been prepared on an appropriate basis, taking into account the current economic conditions that exist.

After making appropriate enquires, the Trustees have a reasonable expectation that the charity has adequate resources to enable it to continue in operational existence for the foreseeable future. They believe it is appropriate to prepare the accounts on a going concern basis.

Fund Accounting

Unrestricted funds comprise accumulated surpluses and deficits on general funds. They are available for use at the discretion of the Trustees in furtherance of the general charitable objectives.

Incoming resources

Incoming resources represents the total incoming receivable during the year comprising grants, donations and gifts received during the year. Tax refundable on Covenant and Gift Aid Income has been included as a debtor at the year end. Gifts in kind are included at their estimated market value. No value has been attributed to voluntary help given by unpaid volunteers.

Resources expended

Direct Charitable Activities

Where possible costs have been allocated to the Direct Charitable activity with which they are associated.

The cost of staff have been allocated in accordance with the proportion of their involvement in the various Direct Charitable Activities.

14

CROYDON BUSINESS VENTURE LIMITED NOTES TO THE FINANCIAL STATEMENTS for the year ended 30th April 2025

Tangible fixed assets

Tangible fixed assets held for the group's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives at the following rates

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||| |---|---| |Fixtures and fittings|- 25% pa on a reducing balance basis| |Short term leasehold improvements|- Straight line basis over the life of the lease| |Plant, machinery and equipment|- 25% pa on a reducing balance basis| |Creative Digital Lab Equipment|- 25% pa on a reducing balance basis|

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Assets held under finance leases are depreciated in the same way as owned assets.

At each statement of financial position date, the group reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the group estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Deferred tax

Deferred tax is provided using the liability method in respect of all material timing differences that have originated but not reversed by the balance sheet date. Deferred tax assets are recognised where it is considered more likely than not that future profits will be available for offset. The company has not adopted a policy of discounting deferred tax assets and liabilities.

Basis of consolidation

The consolidated financial statements incorporate the financial statements of the company and its subsidiaries, CBV (Business Centre) Limited and Croydon Enterprise Agency Limited, for the financial year ended 30th April 2025. A separate income and expenditure account dealing with the results of the holding company only has not been presented, as permitted by Section 408 of the Companies Act 2006.

Investments

Investments held as fixed assets are stated at cost less provision for permanent diminution in value. Those held as current assets are stated at the lower of cost and net realisable value.

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||||| |---|---|---|---| |2|NET MOVEMENT IN FUNDS|2025|2024| |£|£| |The net movement in funds is stated after charging;| |Depreciation and Amortisation|141,041|79,976| |Auditor's Remuneration - Non audit fees|2,436|7,954| |Auditor's Remuneration - Statutory audit|3,900|3,588| |3|EMPLOYEES AND STAFF COSTS|2025|2024| |In aggregate the number of full and part time persons employed| |during the year was:| |Charitable Operations|8|8| |Staff costs were as follows:| |Salaries and Wages|£ 308,451|£ 276,996|

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15

CROYDON BUSINESS VENTURE LIMITED NOTES TO THE FINANCIAL STATEMENTS for the year ended 30th April 2025

4 PROFIT OF PARENT COMPANY

As permitted by Section 408 of the Companies Act 2006, the statement of financial activities of the parent company is not presented as part of these financial statements. The parent company's result for the financial year was £25,652 (2024: (£33,820).

5 EXECUTIVE COMMITTEE' REMUNERATION AND REIMBURSED EXPENSES

None of the Trustees received any remuneration during the year (2024: £NIL).

6
ANALYSIS OF TOTAL RESOURCES EXPENDED
Unrestricted
Direct charitable expenditure
Governance costs
Unrestricted resources expended
Restricted resources expended
TOTAL RESOURCES EXPENDED
7
TANGIBLE ASSETS
Group
Cost
At 1st May 2024
Additions
Disposals
At 30th April 2025
Depreciation
At 1st May 2024
Disposals
Charge for year
At 30th April 2025
Net Book Value
At 30th April 2025
At 1st May 2024		 Short Term
Leasehold
Improvements
£
241,405
-
-
£241,405
206,021
-
5,110
£211,131
£30,274
£35,384		 2025
2025
2025
Staff Costs
Other
Total
£
£
£
308,451
389,666
698,117
-
3,900
3,900
308,451
393,566
702,017
-
-
-
£308,451
£393,566
£702,017
Creative
Fixtures &
Plant, Machinery
Digital Lab
Fittings& Equipment
Equipement
£
£
£
470,811
180,323
148,217
5435
3,342
-
-
-
-
£476,246
£183,665
£148,217
48,702
164,823
139,196
-
-
118,962
10,843
6,126
£167,664
£175,666
£145,322
£308,582
£7,999
£2,895
£422,109
£15,500
£9,021		 2024
Total
£
589,269
3,588
592,857
-
£592,857
Total
£
1,040,756
8,777
-
£1,049,533
558,742
-
141,041
£699,783
£349,750
£482,014

16

CROYDON BUSINESS VENTURE LIMITED NOTES TO THE FINANCIAL STATEMENTS for the year ended 30th April 2025

7 TANGIBLE ASSETS (continued) Company

The Company had no tangible fixed assets.

FIXED ASSET INVESTMENTS
Group
Cost
At 1st May 2024
Fair value adjustments
Additions
Disposal
Closing cash balance held in Investment account
At 30th April 2025
Net Book Value
At 30th April 2025
At 1st May 2024
Company
At 1st May 2024
Fair value adjustments
Additions
Disposals
Closing cash balance held in Investment account
At 30th April 2025
Impariment
Carrying Amount
At 30 April 2025
Cost or Valuation at 30 April 2025 is represnted by:
Valuation in 2018
Valuation in 2019
Valuation in 2020
Valuation in 2021
Valuation in 2022
Valuation in 2023
Valuation in 2024
Valuation in 2025		 Shares in
Group
undertakings
£
-
-
-
-
-
-
27
-
-
-
-
£27
£27
Shares in group
undertakings
£
27
-
-
-
-
-
-
-
£27		 Other
Investments
£
217,978
673
8,524
(2,252)
2,865
£227,788
£227,788
£217,978
217,978
673
8,524
(2,252)
2,865
£227,788
£227,788
Other investment
£
264,315
11,478
(143,406)
155,473
2,661
(7,941)
(64,602)
9,810
£227,788		 Total
£
217,978
673
8,524
(2,252)
2,865
£227,788
£227,788
£217,978
218,005
673
8,524
(2,252)
2,865
£227,815
£227,815
Total
£
264,342
11,478
(143,406)
155,473
2,661
(7,941)
(64,602)
9,810
£227,815

8 FIXED ASSET INVESTMENTS

17

CROYDON BUSINESS VENTURE LIMITED NOTES TO THE FINANCIAL STATEMENTS for the year ended 30th April 2025

8 FIXED ASSET INVESTMENTS (continued)

The charity has the following investments, both of which are incorporated in the United Kingdom:

Nominal value
Percentage of
per share
issued capital
CBV (Business Centre) Limited (Dormant)
2
£1
100
Croydon Enterprise Agency Limited
25
£1
100
9
DEBTORS
2025
Group
£
Trade debtors
78,503
Prepayments
24,848
Other Debtors
1,419
£104,770
Company
£
Trade debtors
51,281
Other Debtor
535
£51,816
10
CREDITORS: amounts falling due within one year
2025
£
Group
Trade creditors
40,392
Social security and other taxes
17,728
Other creditors
149,965
Accruals and deferred Income
4,668
Deferred income
29,388
£242,141
Company
£
Social security and other taxes
3,186
Other creditors
1,231
Accruals
2,692
Amount owed to group undertakings
18,206
Deferred income
29,388
£54,703
No. of ordinary
shares		 Purchase
price
£2
£25
2024
£
63,556
40,401
30,359
£134,316
£
47,445
28,574
£76,019
2024
£
62,356
11,386
158,383
4,744
29,488
£266,357
£
3,782
2,181
2,584
27,591
29,488
£65,626

18

CROYDON BUSINESS VENTURE LIMITED NOTES TO THE FINANCIAL STATEMENTS

for the year ended 30th April 2025

11 CREDITORS: amounts falling due after more than one year

Group
Other creditors
Deferred income
Company
Deferred income		 2025
196,171
140,000
£336,171
2025
£140,000		 2024
306,564
170,000
£476,564
2024
£170,000

Other creditors (due within one year and more than one year) includes a capital grant of £450,000 received from Big South London and Croydon Council to fund a state of the art digital lab providing a virtual production studio. The capital grant is being released to match the depreciation charged on the appropriate facility.

Deferred Income includes a grant of £500,000 received from the London Borough of Croydon, divisible as to £200,000 capital and £300,000 revenue. The deferred balance of this grant as at the year end is £140,000 which is for capital projects.

12 UNRESTRICTED FUND

Group
General unrestricted funds
Company
General unrestricted funds
There are no restricted funds.
13
ANALYSIS OF NET ASSETS BETWEEN FUNDS
For the year ended 30th April 2025
Tangible Assets
Investments
Current Assets
Current Liabilities
Long-term Liabilities
Total Net Assets
Tangible Assets
Investments
Current Assets
Current Liabilities
Long-term Liabilities
Total Net Assets		 Balance at
1st May 2024
£157,008
Balance at
1st May 2024
£72,487		 Incoming
Outgoing
resources
resources
£727,669
£(702,017)
Incoming
Outgoing
resources
resources
£266,027
£(240,375)
2025
2025
Unrestricted
Restricted
Funds
Funds
£
£
349,750
-
227,788
-
183,434
-
(242,141)
-
(336,171)
-
£182,660
-
£
2024
2024
Unrestricted
Restricted
Funds
Funds
£
£
482,014
-
217,978
-
199,937
-
(266,357)
-
(476,564)
-
£157,008
-
£		 Balance at
30th April 2025
£182,660
Balance at
30th April 2025
£98,139
2025
Total
Funds
£
349,750
227,788
183,434
(242,141)
(336,171)
£182,660
2024
Total
Funds
£
482,014
217,978
199,937
(266,357)
(476,564)
£157,008

14 SHARE CAPITAL

Croydon Business Venture Limited is a company limited by guarantee and has no share capital. The liability is limited to £1 per member.

19

CROYDON BUSINESS VENTURE LIMITED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30th April 2025

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----- Start of picture text -----
2025 2025 2025 2024
Unrestricted Restricted Total Total
Funds Funds Funds Funds
£ £ £ £
INCOMING RESOURCES
Rental and service charge income 402,738 - 402,738 373,420
Grants received 315,746 - 315,746 230,071
Investment income 8,234 - 8,234 8,988
TOTAL INCOMING RESOURCES 726,718 - 726,718 612,479
RESOURCES EXPENDED
Charitable activities
Staff costs 280,332 - 280,332 256,968
Staff social security 23,442 - 23,442 20,028
Utilities 67,012 - 67,012 69,008
Service charge 46,540 - 46,540 38,210
Legal and professional 23,926 - 23,926 15,697
Consultancy fees 24,845 - 24,845 13,244
Management Fees 453 - 453 461
Insurance 4,668 - 4,668 5,376
Security 389 - 389 3,121
Photocopier 2,062 - 2,062 2,151
Repairs and maintenance 37,297 - 37,297 32,252
Printing, postage and stationery 4,717 - 4,717 2,571
Advertising 2,333 - 2,333 6,663
Training 4,677 - 4,677 1,099
IT support 14,502 - 14,502 14,078
Depreciation
Short leasehold 5,110 - 5,110 15,446
Creative Digital Lab Equipment 118,962 - 118,962 48,702
Fixtures and fittings 8,153 - 8,153 8,066
Plant and machinery 6,126 - 6,126 5,594
Amortization on Website 2,690 - 2,690 2,168
Gain/Loss on Disposal of investments - - - 6,565
Bad debt 6,011 - 6,011 3,555
Bank charges 2,702 - 2,702 1,635
Sundry expenses 11,168 - 11,168 16,611
-
(698,117) (698,117) (589,269)
Governance costs
Staff salaries - - - -
Audit fees 3,900 - 3,900 3,588
TOTAL RESOURCES EXPENDED (702,017) - (702,017) (592,857)
NET SURPLUS/(DEFICIT) FOR THE YEAR 24,701 - 24,701 19,622
(Loss)/Gain on revaluation of investments 951 - 951 14,200
Taxation on charitable activities - - - 15
NET INCOMING/(OUTGOING) RESOURCES £25,652 £ - £25,652 £33,837
----- End of picture text -----