This cross reflects the centuries-long connection of the area with the Archbishops of Canterbury, whose summer home was Croydon Palace; the cross was present in the arms of the County Borough of Croydon, to which it had been derived from the arms of Archbishop John Whitgift, who was a benefactor of the town of Croydon, where three schools form part of his foundation.
The crossed swords refer to St. Paul and the crossed keys to St. Peter refer to the Abbey of St. Peter and St. Paul of Chertsey, which was granted the Manor of Coulsdon in the year 727.
The mural crown is a common heraldic symbol for local municipal authority in a town or city.
Out of the crown comes a heraldic fountain, a symbol for water, in this case the source of the River Wandle in particular.
The lion comes from the arms of Coulsdon and Purley and is again a reference to Hyde Abbey.