OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-04-05-accounts

Charity registration number 1176149 (England and Wales)

CROWN CREST CHARITABLE INCORPORATED ORGANISATION ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

CROWN CREST CHARITABLE INCORPORATED ORGANISATION

LEGAL AND ADMINISTRATIVE INFORMATION

TRUSTEES

S A Tayub S Tayub T A Shattock

(Appointed 1 November 2025)

CHARITY NUMBER (ENGLAND AND WALES)

1176149

AUDITOR

Kilsby & Williams LLP Cedar House Hazell Drive Newport South Wales NP10 8FY

CROWN CREST CHARITABLE INCORPORATED ORGANISATION

CONTENTS

Page
Report report 1 - 2
Independent auditor's report 3 - 7
Statement of financial activities 8
Balance sheet 9
Statement of cash flows 10
Notes to the financial statements 11 - 18

CROWN CREST CHARITABLE INCORPORATED ORGANISATION

REPORT REPORT

FOR THE YEAR ENDED 5 APRIL 2025

The trustees present their annual report and financial statements for the year ended 5 April 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the CIO's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Public benefit

The charity trustees shall apply the capital and income of the CIO at such time or times and in such manner for the purposes of relieving poverty, or education or otherwise making provision for public benefit in all cases for such exclusively charitable objects and purposes in any part of the world as the trustees see fit.

The principal method of providing public benefit shall be the provision of grants to other organisations registered with the Charity Commission, and providing payments for medical treatments in the United Arab Emirates.

The trustees have had regard to the guidance issued by the Charity Commission on public benefit.

ACHIEVEMENTS AND PERFORMANCE

Significant activities and achievements against objectives

The CIO was registered on 7th December 2017 with a view to provide grants to other charitable organisations in the future, and to provide payments for medical treatments in the United Arab Emirates.

FINANCIAL REVIEW

Reserves policy

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Charity is a company limited by guarantee.

The trustees who served during the year and up to the date of signature of the financial statements were: S A Tayub

S Tayub G J Page T A Shattock

(Resigned 31 October 2025) (Appointed 1 November 2025)

CROWN CREST CHARITABLE INCORPORATED ORGANISATION

REPORT REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

STATEMENT OF REPORT RESPONSIBILITIES

The trustees are responsible for preparing the Report Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales 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 and of the incoming resources and application of resources of the Charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Report report was approved by the Board of Trustees.

.............................. S A Tayub Trustee

25 Nov 2025

Date: .............................................

CROWN CREST CHARITABLE INCORPORATED ORGANISATION

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF CROWN CREST CHARITABLE INCORPORATED ORGANISATION

Opinion

We have audited the financial statements of Crown Crest Charitable Incorporated Organisation (the ‘Charity') for the year ended 5 April 2025 which comprise the statement of financial activities, the balance sheet, the 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 Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

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 Auditor's responsibilities for the audit of the financial 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 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

In auditing the financial statements, we have concluded that the Report 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 Charity's ability to continue as a going 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.

CROWN CREST CHARITABLE INCORPORATED ORGANISATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF CROWN CREST CHARITABLE INCORPORATED ORGANISATION

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. 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 assurance conclusion 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 required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

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:

Responsibilities of trustees

As explained more fully in the statement of Report 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 trustees determine is 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 trustees are responsible for assessing 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 cease operations, or have no realistic alternative but to do so.

CROWN CREST CHARITABLE INCORPORATED ORGANISATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF CROWN CREST CHARITABLE INCORPORATED ORGANISATION

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of 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 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the charity and the industry in which it operates, and considered the risk of acts by the charity that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Charities Act 2011 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of legal counsel. 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. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the trustees that represented a risk of material misstatement due to fraud.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

CROWN CREST CHARITABLE INCORPORATED ORGANISATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF CROWN CREST CHARITABLE INCORPORATED ORGANISATION

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Other matters

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees 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 charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

CROWN CREST CHARITABLE INCORPORATED ORGANISATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF CROWN CREST CHARITABLE INCORPORATED ORGANISATION

Ataf Salim Senior Statutory Auditor

for and on behalf of

Kilsby & Williams LLP Chartered accountants & statutory auditor Cedar House Hazell Drive Newport South Wales NP10 8FY 26 Nov 2025 Date: .........................

Kilsby & Williams LLP 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.

CROWN CREST CHARITABLE INCORPORATED ORGANISATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 5 APRIL 2025

Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
INCOME FROM:
Donations and legacies 2 - 4,808,628
Investments 3 1,095,626 -
TOTAL INCOME 1,095,626 4,808,628
EXPENDITURE ON:
Raising funds 4 135,256 -
Charitable activities 5 509,337 233,909
TOTAL EXPENDITURE 644,593 233,909
NET INCOME AND MOVEMENT IN FUNDS 451,033 4,574,719
RECONCILIATION OF FUNDS:
Fund balances at 6 April 2024 15,422,441 10,847,722
FUND BALANCES AT 5 APRIL 2025 15,873,474 15,422,441

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

CROWN CREST CHARITABLE INCORPORATED ORGANISATION

BALANCE SHEET

AS AT 5 APRIL 2025

2025
Notes
£
FIXED ASSETS
Investment property
10
26,710,595
CURRENT ASSETS
Debtors
11
549,376
Cash at bank and in hand
3,781,856
4,331,232
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR
13
(177,520)
NET CURRENT ASSETS
4,153,712
TOTAL ASSETS LESS CURRENT LIABILITIES
30,864,307
CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR
14
(14,990,833)
NET ASSETS
15,873,474
THE FUNDS OF THE CHARITY
Unrestricted funds
15,873,474
15,873,474		 2024
£
-
-
15,425,141
15,425,141
(2,700)
15,422,441
15,422,441
-
15,422,441
15,422,441
15,422,441

25 Nov 2025

The financial statements were approved by the trustees on .........................

.............................. S A Tayub TRUSTEE

CROWN CREST CHARITABLE INCORPORATED ORGANISATION

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 5 APRIL 2025

2025
Notes
£
CASH FLOWS FROM OPERATING ACTIVITIES
Cash (absorbed by)/generated from
operations
17
(1,019,149)
INVESTING ACTIVITIES
Purchase of investment property
(26,710,595)
Investment income received
1,095,626
NET CASH USED IN INVESTING
ACTIVITIES
(25,614,969)
FINANCING ACTIVITIES
Proceeds from borrowings
15,000,000
Repayment of borrowings
(9,167)
NET CASH GENERATED FROM/(USED
IN) FINANCING ACTIVITIES
14,990,833
NET (DECREASE)/INCREASE IN CASH AND
CASH EQUIVALENTS
(11,643,285)
Cash and cash equivalents at beginning of
year
15,425,141
CASH AND CASH EQUIVALENTS AT END OF
YEAR
3,781,856		 2024
£
4,574,719
-
-
-
-
-
-
4,574,719
10,850,422
15,425,141

CROWN CREST CHARITABLE INCORPORATED ORGANISATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

1 ACCOUNTING POLICIES

Charity information

The charity is a public benefit entity and a registered charity in England and Wales. The charity is unincorporated and the address of the principal office is 1 Bedding Lane, Norwich NR3 1RG.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

1.4 Income

Income is 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 the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

CROWN CREST CHARITABLE INCORPORATED ORGANISATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

1 ACCOUNTING POLICIES

(Continued)

Income from investment includes rental income and interest income. Rental income from investment properties is recognised on an accruals basis, in accordance with the amounts due from tenants under the terms of the lease agreements for each period. Interest receivable is recognised on an accruals basis as it is earned.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use.

1.6 Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments' and Section 12 ‘Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions 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 basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic 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 amortised.

CROWN CREST CHARITABLE INCORPORATED ORGANISATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

1 ACCOUNTING POLICIES

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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 have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within 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 of financial liabilities

Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or cancelled.

2 INCOME FROM DONATIONS AND LEGACIES

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts - 4,808,628
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Rental income 1,093,810 -
Interest receivable 1,816 -
1,095,626 -

CROWN CREST CHARITABLE INCORPORATED ORGANISATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

4 EXPENDITURE ON RAISING FUNDS

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Electricity 6,176 -
Property insurance 80,690 -
Investment management 48,390 -
Total costs 135,256 -
5
EXPENDITURE ON CHARITABLE ACTIVITIES
Direct costs
Charitable Expenditure
Share of support and governance costs (see note 6)
Support
Analysis by fund
Unrestricted funds
6
SUPPORT COSTS ALLOCATED TO ACTIVITIES
Audit remuneration
Bank charges
Governance costs
Analysed between:
Support costs		 Support
costs
2025
£
499,738
9,599
509,337
509,337
2025
£
4,640
523
4,436
9,599
9,599		 Support
costs
2024
£
231,924
1,985
233,909
233,909
2024
£
1,650
335
-
1,985
1,985

CROWN CREST CHARITABLE INCORPORATED ORGANISATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

7 TRUSTEES

No trustee received any remuneration or other benefits from the charity during the year (2024: £nil).

No trustee received reimbursement of expenses during the year (2024: £nil).

8 EMPLOYEES

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2025 2024
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

9 TAXATION

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

10 INVESTMENT PROPERTY

INVESTMENT PROPERTY
Fair value
At 6 April 2024
Additions
At 5 April 2025		 2025
£
-
26,710,595
26,710,595

During the year the charity purchased two investment properties at a total cost of £26,710,595. As the properties were acquired during year and no independent valuation has yet been performed, they are recognised at cost at 5 April 2025. The trustees intend to obtain valuations and measure the properties at fair value in the next financial year once reliable market information becomes available.

CROWN CREST CHARITABLE INCORPORATED ORGANISATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

11
DEBTORS
Amounts falling due within one year:
Rent arrears
Other debtors
12
LOANS AND OVERDRAFTS
Other loans
Payable after one year		 2025
£
256,066
293,310
549,376
2025
£
14,990,833
14,990,833		 2024
£
-
-
-
2024
£
-
-

The charity has an interest-free loan of £15,000,000 from a family member of a trustee. At the reporting date, the amount remaining was £14,990,833 (2024: £nil) as £9,167 was repaid during the year. The loan is repayable on demand, although repayment is not expected within 12 months. See note 16 for related party disclosure.

13
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other taxation and social security
Other creditors
Accruals and deferred income
14
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
Borrowings		 2025
£
90,389
81,712
5,419
177,520
2025
£
14,990,833		 2024
£
-
-
2,700
2,700
2024
£
-

CROWN CREST CHARITABLE INCORPORATED ORGANISATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

15 UNRESTRICTED FUNDS

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used.

General funds
Previous year:
General funds		 At 6 April
2024
£
15,422,441
At 6 April
2023
£
10,847,722		 Incoming
resources
Resources
expended
£
£
1,095,626
(644,593)
Incoming
resources
Resources
expended
£
£
4,808,628
(233,909)		 At 5 April
2025
£
15,873,474
At 5 April
2024
£
15,422,441

16 RELATED PARTY TRANSACTIONS

During the year, the charity received an interest-free loan of £15,000,000 from a family member of a trustee. The loan has no fixed repayment terms, no interest and is repayable on demand. The charity does not expect to repay the loan within the next 12 months and has therefore classified the loan as a long-term liability.

As at the balance sheet date, the carrying amount of the loan was £14,990,833.

17
CASH GENERATED FROM OPERATIONS
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Movements in working capital:
(Increase) in debtors
Increase in creditors
Cash (absorbed by)/generated from operations		 2025
£
451,033
(1,095,626)
(549,376)
174,820
(1,019,149)		 2024
£
4,574,719
-
-
-
4,574,719

CROWN CREST CHARITABLE INCORPORATED ORGANISATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

18 ANALYSIS OF CHANGES IN NET DEBT
At 6 April 2024 Cash flows At 5 April 2025
£ £ £
Cash at bank and in hand 15,425,141 (11,643,285) 3,781,856
Loans falling due after more than one year - (14,990,833) (14,990,833)
15,425,141 (26,634,118) (11,208,977)

SIGNATURE CERTIFICATE

Document

Name 2025 Final Accounts.pdf Creator Alex Spencer (alex.spencer@kilsbywilliams.com) Date 25 November 2025 9:55:10 UTC Identifier a73a58fe-4cbb-4237-9731-fcd233737902

Signers

shehzad@crown-crest.com

E-mail shehzad@crown-crest.com Signed 25 November 2025 10:02:47 UTC IP address 104.28.89.57 E-mail ataf.salim@kilsbywilliams.com Signed 26 November 2025 9:39:50 UTC IP address 62.64.210.58

Ataf Salim