Page 56 - 86395_CCB - 2024 Annual Report (web)

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Governance arrangements Overseas branches
The Board has chosen to voluntarily The Bank does not have any branches
adopt the principles of the UK Corporate outside of the United Kingdom.
Governance Code (Code) to the extent
that they are applicable or considered Corporate headquarters and
appropriate for the Bank. Details of the registered office
aspects of the Code not applicable or The corporate headquarters and registered
considered appropriate for the Bank, offices address for Cambridge & Counties
together with the areas where the Bank has Bank Limited is Charnwood Court, 5B New
deviated from the recommendations of the Walk, Leicester, LE1 6TE.
Code and the rationale for this, are set out
within ‘How the business is managed’ in the Environmental information
Bank’s Corporate Governance Statement
on pages 42 to 48. The Bank is committed to being a
responsible user of resources and
Share capital continues to consider ways it can
reduce its environmental impact.
Details of the Bank’s shareholders and The Bank’s environmental and
share capital at 31 December 2024 emissions information is reported on
are provided in Notes 27 and 34 to the pages 16 to 18.
Financial Statements.
Going concern
Future developments
The Directors recognise their responsibility
The future developments of the Bank are to assess the Bank’s ability to continue as
set out in the Chief Executive Officer’s a going concern, for a period of at least
statement on pages 10 to 12.
12 months from the date the Financial
Statements are approved. The Directors’
Political donations and expenditure
assessment of going concern is integrated
No amounts were given for political with the assessment of the viability of the
purposes during the year (2023: Nil) Bank. The Directors, having considered
the matters noted in Note 4, are satisfied
Financial risk management and that adequate funding, liquidity, and capital
hedging policies resources will be in place to allow the
Financial Statements to continue to be
Details of the use of financial instruments, prepared on a going concern basis, and are
together with risk management disclosures not aware of any material uncertainties that
can be found in the Managing Financial may cast doubt upon the Bank’s ability to
Risk section of the Financial Statements in continue as a going concern.
Note 21 and the Risk Management section
in the Strategic Report on pages 27 to 39.
Viability statement
Post balance sheet events As more fully explained in the Corporate
Governance Statement on page 42, the
There have been no significant quantifiable Bank has committed to voluntarily adopt
events between 31 December 2024 and the principles of the Code, to the extent
the date of approval of the Financial that they are applicable or considered
Statements which would require a change appropriate for the Bank, which includes
to, or additional disclosure, in the Financial provisions that require the Directors to
Statements. Management and the Board confirm that the Bank will be able to
continue to monitor the economic outlook continue in operation, and to meet its
across the UK and globally on a regular financial liabilities as they fall due over
basis. As part of this monitoring the Bank a specified period taking account of the
aims to identify and address the likelihood current position, and principal risks of
of any financial impacts materialising.
the Bank.
The Directors have assessed the Bank’s
Research and development activities
viability to December 2026. Key capital
The Bank develops new products and and leverage ratios have been forecast,
services during the ordinary course of and regulatory and internal stress testing
its business. of the Bank’s profit, capital and funding