Decision Maker:

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Date of Decision: October 15, 2025

Purpose: 1.1 The report provides an update to Cabinet from the Croydon Companies Supervision and Monitoring Panel (CCSMP), established by Cabinet on 26 July 2021, as a response to the governance failings identified in Grant Thornton’s Report in the Public Interest, issued in October 2020. The Council had created a series of complicated company structures but did not have the right control or oversight in place to ensure the effective management of them. This had led to a situation where relationships were not understood, and regulatory failings resulted in the strike-off of one of the Council’s subsidiaries.   1.2 Amongst the recommendations accepted by Cabinet on 26 July 2021 was a requirement that the Council review arrangements to govern its interest in subsidiaries and ultimately ensure the Council’s and taxpayers’ interests are safeguarded. The work of the panel ensures that the Council’s strategic objectives are met, the financial impact of Council companies is understood, and regulatory failings such as strike offs are avoided. 1.3 The report provides an update on the status of Council companies that exist but excludes Brick by Brick (Croydon) Limited.   1.3 This is monitored in accordance with the powers delegated by the Cabinet to the Corporate Director of Resources, in consultation with the Executive Mayor, at the meeting held on 14 February 2024.

Content: For the reasons set out in the report, the Executive Mayor and Cabinet AGREED:   2.1 To delegate to the Corporate Director of Resources and S151 Officer, in consultation with the Executive Mayor and Cabinet Member for Finance, the power to exercise shareholder functions and dissolve companies subject to necessary legal and financial due diligence and consultation at Croydon Companies Supervision and Monitoring Panel.   2.2 To approve to incorporate the authority to dissolve companies within the CCSMP Terms of Reference.   2.3 To note the status of Croydon Council companies as set out in Appendix 1.