2024-05-31-accounts - Green Croydon Circular Economy

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

Docusign Envelope ID: 33877951-3CCC-472F-807F-CB0D836C7F78

Report of the Trustees For the Period 30[th] November 2023 to 31[st] May 2024

The Trustees present their report with the financial statements of the charity for the period 30th November 2023 to 31st May 2024. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in January 2019.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1205983

Principal address

4a Bramley Close, South Croydon, Surrey, CR2 6NQ

Trustees

Dionne Collins Andrew Dickinson Eunice Dickinson Lettice Kemp

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity was formed as a Charitable Incorporated Organisation on 30[th] November 2023.

Purposes

The objects of the charity are:

1) To advance the education of the public by providing skills via activities and learnings
2) To promote the circular economy by preventing waste for the protection of the environment via re-use, repair and recycling and associated activities
3) To improve the local environment in the London Borough of Croydon.

Activities

During the period of 30th November 2023 to 31st May 2024 the charity was focused on appointing Trustees and establishing its structure, internal processes and charitable strategy.

Trustees were recruited from our group of volunteer tutors at Croydon Repair Cafe and are seen as being honest and sincere about the purposes of the charity. One trustee already has experience as a trustee of another charity and a pending trustee appointment will see a qualified accountant join the ranks.

Selection is by a suggested person put forward for the trustees to discuss and vote on. We have a bimonthly trustee meeting in which the minutes are recorded.

The trustees have had a regard to the guidance issued by the Charity Commission on public benefit. As a new charity, the appointed trustees provide support in the managing of activities and support each other in our aim in providing and teaching life skills in the community for the benefit of the public. The trustees regard all the objectives of the charity to be clearly in the interest and benefit of the local community as well as the wider public.

Docusign Envelope ID: 33877951-3CCC-472F-807F-CB0D836C7F78

Financial Review

This was the first period of exisitence for the Charity, a bank account was opened for the charity, but no income or expenditure has yet gone through the charity whilst the Trustees focus on planning the strategy for the charity’s activities and growth and therefore there are no reserves.

Over the next few years, with the commencement of activity, we plan to build reserves incrementally annually. The charity aims to seek funding through grants and increase the number of revenue streams.

The charity is continuously in the process of strengthening its reserves with a commitment towards a minimum three-month contingency fund as part of its operating model.

25 March 2025 Approved by the Board of Trustees on ……………........... and signed on its behalf by:

……………………………..

Andrew Dickinson – Trustee

Docusign Envelope ID: EC31458E-8DAB-45C7-BDDF-4F6B0C288C35

	Charity No (if any) 1205983 Period start date 30-Nov-23 To Period end date 31-May-24 CC17a Green Croydon Circular Economy Annual accounts for the period	Charity No (if any) 1205983 Period start date 30-Nov-23 To Period end date 31-May-24 CC17a Green Croydon Circular Economy Annual accounts for the period
Section A	Statement of financial activities
Recommended categories by activity Details of own analysis Note Incoming resources (Note 3) Incoming resources from generated funds Voluntary income S01 Activities for generating funds S02 Investment income S03 Incoming resources from charitable activities S04 Other incoming resources S05 S06 Resources expended (Notes 4-8) Costs of Generating Funds Costs of generating voluntary income S07 Fundraising trading costs S08 Investment management costs S09 Charitable activities S10 Governance costs S11 Other resources expended S12 S13 S14 S15 S16 S17 S18 S19 S20 S21 *Total resources expended* *Total incoming resources* *Total funds carried forward* Total funds brought forward *Net movement in funds* *Net incoming/(outgoing) resources before* *transfers* Gains and losses on investment assets Gains and losses on revaluation of fixed assets for the charity’s own use Other recognised gains/(losses) *Net incoming/(outgoing) resources before* *other recognised gains/(losses)* Gross transfers between funds		Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05
	S01 S02 S03 S04 S05	- - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
		- - - - -
		- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
		- - - - - - - - - -
		- - - - -
		- - - - -
		- - - - - - - - - -
		- - - - -
		- - - - -
		- - - - -

CC17a (Excel)

25/03/2025

Docusign Envelope ID: EC31458E-8DAB-45C7-BDDF-4F6B0C288C35

Section B Balance sheet

Unrestricted funds £ F01 - - -	Restricted income funds £ F02 - - -	Endowment funds £ F03 - - -
-	-	-
- - - -	- - - -	- - - -
-	-	-

-	-	-

-	-	-

-	-	-

- -	- -	- -

-	-	-
- -	-	-
-	-	-
Signature

CC17a (Excel)

25/03/2025

Docusign Envelope ID: EC31458E-8DAB-45C7-BDDF-4F6B0C288C35

Section C Notes to the accounts

Note 1 Basis of preparation

This section should be completed by all charities .

1.1 Basis of accounting

These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:

Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005);

• and with*  Accounting Standards; or Financial Reporting Standards for Smaller Enterprises (FRSSE);

and with the Charities Act.

1.2 Change in basis of accounting

There has been no change to the accounting policies (valuation rules and methods of accounting) since last year.

1.3 Changes to previous accounts

No changes have been made to accounts for previous years.

CC17a (Excel)

25/03/2025

Docusign Envelope ID: EC31458E-8DAB-45C7-BDDF-4F6B0C288C35

Section C Notes to the accounts (cont)

Note 2 Accounting policies

This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.

INCOMING RESOURCES

Recognition of incoming	These are included in the Statement of Financial Activities (SoFA) when:
resources	 the charity becomes entitled to the resources;
	 the trustees are virtually certain they will receive the resources; and
	 the monetary value can be measured with sufficient reliability.
Incoming resources with	Where incoming resources have related expenditure (as with fundraising or contract income)
related expenditure	the incoming resources and related expenditure are reported gross in the SoFA.
Grants and donations	Grants and donations are only included in the SoFA when the charity has unconditional
	entitlement to the resources.
Tax reclaims on donations	Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to
and gifts	which they relate.
Contractual income and	This is only included in the SoFA once the related goods or services have been delivered.
performance related grants
Gifts in kind	Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised.
	Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or
	distributed by the charity.
	Gifts in kind for use by the charity are included in the SoFA as incoming resources when
	receivable.
Donated services and	These are only included in incoming resources (with an equivalent amount in resources
facilities	expended) where the benefit to the charity is reasonably quantifiable, measurable and
	material_._The value placed on these resources is the estimated value to the charity of the
	service or facility received.
Volunteer help	The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
Investment income	This is included in the accounts when receivable.
Investment gains and losses	This includes any gain or loss on the sale of investments and any gain or loss resulting from
	revaluing investments to market value at the end of the year.
EXPENDITURE AND	LIABILITIES
Liability recognition	Liabilities are recognised as soon as there is a legal or constructive obligation committing the
	charity to pay out resources.
Governance costs	Include costs of the preparation and examination of statutory accounts, the costs of trustee
	meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with performance	Where the charity gives a grant with conditions for its payment being a specific level of service
conditions	or output to be provided, such grants are only recognised in the SoFA once the recipient of the
	grant has provided the specified service or output.
Grants payable without	These are only recognised in the accounts when a commitment has been made and there are
performance conditions	no conditions to be met relating to the grant which remain in the control of the charity.
Support Costs	Support costs include central functions and have been allocated to activity cost categories on a
	basis consistent with the use of resources, eg allocating property costs by floor areas, or per
	capita, staff costs by the time spent and other costs by their usage.
ASSETS
Tangible fixed assets for use	These are capitalised if they can be used for more than one year, and cost at least £500. They
by charity	are valued at cost or a reasonable value on receipt.
Investments	Investments quoted on a recognised stock exchange are valued at market value at the year
	end. Other investment assets are included at trustees' best estimate of market value.
Stocks and work in progress	These are valued at the lower of cost or market value.

CC17a (Excel)

25/03/2025

Docusign Envelope ID: EC31458E-8DAB-45C7-BDDF-4F6B0C288C35

Section C Notes to the accounts (cont)

Note 5 Support Costs

Please complete this note if the charity has analysed its expenses using activity categories and has support costs.

----- Start of picture text -----
Fundraising activity Charitable Activity Governance Activity Total Cost
Support cost type £ £ £ £
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
Total - - - -
----- End of picture text -----

Note 6 Details of certain items of expenditure

6.1 Trustee expenses

Please provide details of the amount of any payment or reimbursement of out-of-pocket expenses made to trustees or to third parties for expenses incurred by trustees. If no expenses were paid, please enter ‘None’ in the appropriate box(es).

Total amount paid Number of trustees who were paid expenses Nature of the expenses	This year Last year none none £ £

6.2 Fees for examination or audit of the accounts

Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner or auditor. If nothing was paid please enter NONE in the appropriate box(es).

Independent examiner’s or auditors' fees for reporting on the accounts Other fees (for example: advice, consultancy, accountancy services) paid to the independent examiner or auditor	This year Last year £ £ none none

CC17a (Excel)

25/03/2025

Docusign Envelope ID: EC31458E-8DAB-45C7-BDDF-4F6B0C288C35

Section C Notes to the accounts (cont)

Note 14 Transactions with related parties

If the charity has any transactions with related parties (other than the trustee expenses explained in note 6) details of such transactions should be provided in this note. If there are no transactions to report, please enter “None” in the relevant boxes.

14.1 Remuneration and benefits

Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee or other related parties by the charity or any institution or company connected with it.

----- Start of picture text -----
Amounts paid or benefit value
Legal authority (eg order,
Name of trustee or connected party
governing document) This year Last year
£ £
none
----- End of picture text -----

14.2 Loans

Please give details of and amounts owing to or from the charity’s trustees or other related parties by the charity at the year end.

Due to trustees and related parties Due from trustees and related parties	none none none none Name of trustee or connected party Legal authority	This year Last year £ £ Amount owing

14.3 Other transaction(s) with trustees or related parties

Please give details of any transaction undertaken by (or on behalf of) the charity in which a trustee or related party has a material interest.

Name of the trustee	Relationship to	Description of the	This year	Last year
or related party	charity	transaction(s)	£	£
none

CC17a (Excel)

25/03/2025

Docusign Envelope ID: EC31458E-8DAB-45C7-BDDF-4F6B0C288C35

Section C Notes to the accounts (cont)

Note 15 Additional Disclosures

The following are significant matters which are not covered in other notes and need to be included to provide a proper understanding of the accounts. If there is insufficient room here, please add a separate sheet.

This is the first accounting period for Green Croydon Circular Economy. There has been no activity in this financial period and therefore there is zero income and expenditure for the period and no assets, liabilities or reserves.

CC17a (Excel)

25/03/2025