The Croydon BID Articles of Association states the purpose of the company as well as the duties and responsibilities of its members.
The Board provides strategic direction and input and is responsible to stakeholders for the conduct, performance, and due governance of the BID Company. It is also responsible for setting the annual budget and monitoring finances throughout the course of the year.
Membership of the Board is voluntary, and directors are unpaid.
Membership of the Croydon BID Board of Directors reflects our Articles of Association.
The Croydon BID Board of Directors is made up by majority of Croydon BID levy members across all main sectors. Croydon BID Board Directors are registered at Companies House and have voting rights.
The Croydon BID Board of Directors invites observers to attend meetings.
Observers do not have voting rights and provide update and information to support the work of the Croydon BID Board of Directors.
Croydon BID’s financial accounts are prepared by Bryden Johnson. Croydon BID’s financial year ends on 31st March.
Croydon BID’s accounts are audited annually by DSK Partners LLP and approved by the Croydon BID Board of Directors.
Financial Summary 2023-2024 as of 31st March 2024:
Please note that these figures are unaudited. Please see our audited accounts for 2022-2023.
Forecast Financial Summary 2024-2025 as of 1st April 2024:
The Croydon BID Operating Agreement outlines the agreed terms of operation between Croydon BID and Croydon Council.
These arrangements are governed and administered within the guidelines set out in the BID (England) Regulations 2004.
Croydon Council will be responsible for collecting the BID levy on behalf of Croydon BID. The levy will be collected in one instalment due on 1st April each year and held in a separate account solely for Croydon BID.
The Croydon BID Procurement Policy is designed to ensure that a clear framework is in place with appropriate levels of authorisation to protect the best interests of the Croydon BID levy payers and deliver value for money.
On appointment to the Croydon BID Board, all directors are requested to declare or seek approval for related party transactions including other directorships, personal interests and family business interests which may conflict with the operation of Croydon BID. This is to ensure the complete transparency when discussing issues related to Croydon BID, the decisions it takes and the procurement of goods, services and works.
The register of all pecuniary, personal and conflict of interests is a standing board agenda item. The Chair of Croydon BID ensures that all directors declare any interests at each meeting they attend, removing the opportunity to vote on the item in question.
Details of Croydon BID Board directors are listed on our website, as part of our audit process, within our end of year accounts and at the Annual General Meeting.
Should any levy-paying businesses wish to see this register, they can contact us at hello@croydonbid.com.
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©Croydon BID 2023
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