Tigray Development Association In The United Kingdom (TDA-UK)
Trustees, Report and FinanciaL Statements for the year ended 30
September 2025
Charity Registration No. 1018315
Solomon Tarekegn
Independent Ex8mlner
Ch8rtered Certlfled Accountant

Tigray Development Association In The United Kingdom (TDA-UK)
Content8
Page
General Inforrnatlon
Trustees Report
4-10
Independent Examln8r Report
Statement of Financlal Activities
12
Balance Sheet
13
Notes tothe accounts
14-16

Tigray Development Association In The United Kingdom (TDA-UK)
Trustees
MsTiegisty Mengesteab Equb8ezgi
MrT8klay Desta kassa
MrAmanuel Berhe Araya
MrAlemu AbrehB Abay
Mr Hailekiros Gebrekidan Abebe
Mr Algma Gidey Kahsay
Ms Shewit Abay Hzklas
Ms Selamawit Gidey
MrTeclayTeweldeberhan
Mrs Eden A88efa Mamo
Azeb Berhe
Hlruit Kahesay
Resigned 1110312026
Resigned 1110312026
Appointed 2410212024
Appointed 2410212024
Appolnted 2410212024
Addre88
TDA Hous8
211 Clapham Road, Stockwell
London. SW9 OQH
Banker
Lloyds TSB
Sedgemoor Hou88, Dean G8te Avenue
Black Brook Buslness Park, TA12ug
Independent Examlner:
Solomon T8rekegn
As80clatlon Ch8rtered Certified Accountant
7 SerenityApartment, 11 Monarch Square. SW111AL
Charlty Registratlon No.
1018315

Tigray Development Association In The United Kingdom (tDA-UK)
REpoFrr OF THE TRUSTEES ofTDA-UK
EQUHE.YE
The Trustees present their report together with the audited financial statements of the
charity forth8year 8nded 30th of September 2025.
The Trustees
Ms Tleglsty Mengesteab Equbaezgi
MrTeklay Desta kassa
Mr Amanuel Berhe Araya
Mr Hailekiros Gebrekldan Abebe
Ms ShewitAbay Hzkl88
Ms S81arnawlt Gidey
MrTeclayTeweldeberhan
Mrs Eden Assefa Mamo
Azeb Berh8
Hiruit Kahesay
Appointed 2410212024
Appointed 2410212024
Appointed 2410212024
Oovornlng Document
Tlgrsy Development Associ8tion in the Unlted Kingdom (TDA-UKI is governed by a Trust
Deed dat8d 5 March 1993, as amended on 16 February 2014. The charlty18 registered
with the Charlty Commlssion under Reglstered Charlty Number 1018315.
ObJect8. Mlgslon Statement, Alms and Actlvltles
Mission Statement
TDA-UK is a partnerofTigray Dev6lopmentAssociation InternatlonallTDA
Internationall, an indlgenous non-governmental charitable org8nisatlon established in
1989 by the people of Tigray. TDA International was founded to play an 8CtIV8 role In
supporting all aspects ofthe region's soclaland economlc developm8nt. Its
headquarters are based In Mekelle. the ¢8pltal of the Tigray Region in northern Ethlopla.
Aims
TDA-UK. togetherwith its members and supporters, has been activelyengaged In
supporting the development and rehabilit8tion of the Tigray Region. The associatlon was
established in 1989 by members of theTigrayan community living in the United Kingdom

Tigray Development Association In The United Kingdom (TDA-UK)
with the aim of contributing to the reconstruction of the region and assisting people
displaced bythe civil war.
Over theyears, TDA-UK has supported a wlde range of development inltlatlves.
Includlng the construction of 505 schoo15. 124 health clinics. 165 water supply
schemes, 35 vocational skills training centres. and 79 credit unions. with a partlcular
focus on empoweringwomen. The association h8s also contrlbuted towards
scholarships for more than 4,000 academically talented students.
In addition, TDA-UK has coordinated the collection and shlpment of thousands of
educational books, hundreds of hospital beds. a wide range of medic818qulpment, and
numerous computers. These resources have been distribut8d to schools. healthc8re
facilities. and other public institutlons across the Tigray Region to strengthen education,
healthcare. and communlty development.
Organisatlon and Structure of the As8oclatlon
The Trustees have overall responsibility for the governanc8, Strategic dlrection, and
management of the AssocSatlon. All Trustees receive an appropriate Inductlon 8nd any
n8ce8sary tralnlng to en8ur8 they possess the knowledge and skills required to fulfil
their duties effectively and in accordance wlth charity governance requlrements.
The Trustees are supported by a team of dedlcated volunteers who assistwlth the day-
to-day oper8tlons of the A8soclatlon. Volunteers work on a rota basis, enabllng the
charlty to deliver Its servlces efflcl8ntly while making the best US8 01 avallable
resources.
TDA-UK h85 morg than 250 subscription-paying members with votlng rlghts who elect
the 808rd of Trustees. The A8socl8tlon also benefits f rom the support of 8ssociate
members and frionds of Tigray who contribute to its ch8rltable objectives.
Stalemanl of Tru8teeg' R8spon8lbllltle8
TDA-UK Is m8n8ged by 8 Board oftwelve elected Trustees. slx of whom are women. The
Trust8es are responsible for the ov8rall management and adminlstration of the charity,
includlng stewardship of its assets and property, and for ensuring compliance with the
requlrements of the Charity CommlssSon for England and W8le8 and all other applicable
legal and regulatory obligations.
To supportthe effective management ofthe Association, the Trustees have established
a number of sub-committees responsible for specific areas ofthe charlty's work. These
Include education. health. property management, membership development.
community consultation, event organisation. fundraising. and the collection and
shipment of essentSal educational and medical supplies to schools. health facilltles,
and communltles Sn the Tigr8y Region of northern Ethiopia.

Tigray Development Association In The United Kingdom (fDA-UK)
The Trustees meet regu18rly to review the charivs activities. monitor flnancial
performance. assess risks. and ensure that the Assoclation continues to operate
8ffectively in turtherance of its charitable objectives.
Recruitment and Appointment of the Board of Trust885
TDA-UK'S Trustees are elected d8mocratlcally bythe membership everythree years in
accordance with the Association's Trust Deed and governing document. The Board
comprlses Individuals with a broad range of profession81 skllls. knowledge and
experience gained through employment in both the voluntary and publlc sectors in the
United Kingdom.
Where specialist knowledge is r8qulred for particular projects or areas of work, the
Trustaes draw upon a nemork of sultably qu8llfled professionals. both from wlthln the
membership and thewid8r community. to provide expert8dvice 8nd support.
Tru8tee Inductlon and Tralnlng
New Trustees recelve an induction to famlliarise them wlth th8 charlty's governing
document, polScSes. legal respon81bililies and oparatlonal procedures. In additlon,
ongolngtralningand developmentworkshops are organlsed throughouttheyearto
8trengthenTru8te88' gov8rnanco, leadershSp and management skilL8.
These se8sion8 provlde opportunltles for Trustees to revlew the challenges f8ced by th6
A8socSatlon, share best practlce. keep abreast of ch8ng8s in charlty legislatlon and
regulstory requSrem8ntS, and enhance their knowledge of effectlve govern8nce,
flnanclal management and rlsk manag8ment.
Rlsk Management
The Trustees are respon8lble for Identlfying, assesslng 8nd managing the prlnclpal rlsks
faclng the charity. Approprlate measures are Implemented to mSnlmls8 these rlsks and
to ensure that the Association continues to operate effectlvely and dellver Its charit8ble
objectives,
The Trustèes regularly review the charlty's fin8nc181, operatlonal. governence and
compliance risks and malntaln appropr18te intern81 controls to safeguard the charity's
assets and resourc8S.
Flnanclal Rl8k Management
The Trustees continue toworkto Increase Income through membershlp subscrlptlDns.
donations and fundraising activities, which together represent a significant proportion
of the charity's non-rental Income. To encourage greater participation. the Assoclatlon
has extended office opening ho(Jr8, issued reminders by telephone, email and text
message. and organi5ed fundraising events and community engagement actlvltles.

Tigray Development Association In The United Kingdom (fDA-UK)
Comprehensive financial procedures and internal controls are in place to ensure that
all Trustees complywith the charity's financial pollcles when collecting rental Income.
receiving membership subscriptions and donations, and authorising expenditure.
including property maintenance and repalrs.
Where funds are transferred overseas in support ofthe charlty's programmes, the
Trustees ensure that appropriate due diligence is undert8ken 8nd that all transfers
comply wlth applicable UK legislation, Charity Commission guidance and r818vant
International leg81 and regulatory requlrements. The AssocSation also malntains
8ppropri8te Internal control systems and complies with Independent extern81 audit
requirements to 8nsur8 transparency. accountability and sound flnancial governance
Achlevements and Performance
In line Wlth the AssocSatlon's three-year str8tegic plan and in response to the continulng
humanitarian crlsi5 In the Tigray Region of Ethiopla, the Trustees identlfied the followlng
priority for the f inanclal year ending 30 September 2025:
1. Strengthen eng8gement with members and supporters by gathering their vlews,
oplnlons and recommendatlons to enhance community participation. improve
the Association's operations, and inform future strategic planning and decision-
making.
To achieve this objective. the Trustees.,
a) Org8nised a constslt8tlve meetlng wlth members and supporters, uslng a
structured questlonn8ire to gather feedback and identify priorities for the
future directlon of the Association.
b) Established a number of volunteer working groups to undertake speclf Sc t88ks
and support the dellvery of the Associ8tion's strateg1¢ oblectiV8s, maklng
better use of members, ski115, experience and expertise.
c) Contlnu8SUPPOrtlng Ka18mino Special High School IKSHSI.whlch remain8the
prlmary b8neflclBry of the restrlcted funds generated from the Association's
rental property. in accordance with the charity's designated oblectlves and
fundlng restrictions.
2. Organise and establlsh the crlteria forthe tenderlng process forthe front property.
ensuringthat the process is fair, transparent. and compllant with the Associ8tlon's
procurement and govern8nce procedures.
al Prepared 8 comprehensive tender informatlon pack for the front property,
including the Heads of Terms and all other relevant supporting documents, to
ensure that the tendering proces5 was transparent, fgir and well-lnformed for
prospective applicants.
bl Advertised the tender opportunity through appropriate communlty platform8
and communication ch8nnels to ensure a fair, transparent. and accessible
blddlng process for all interested applicants.

Tigray Development Association In The United Kingdom (TDA-UK)
cl The tenderlng process was suspended after the advertisement stage and
during ihe evaluation of bids, including the screening 8nd scoring of
applicants. This was necessary because the existing tenant. who had also
submitted a bid. sought to extend their tenancy through legal proceedings.
Consequently, the Trustees paused the tendering process pending the
outcome of the legal matter before deciding on th8 next course of action.
dl Continue the refurbishment of TDA House by redecorating the two offlce
rooms to make them suitable for letting and generating Bdditlonal rental
income. In addition. continue assessing the feasibility of r8d8veloplng the
propeity. in Ilne with the strategic objective8 agreed by the Trustee8 in the
prevlous financlal ye8r, wlth the aim of maximising the property's long-term
value 8nd ensurlng a sustalnable source of income for the charlty.
Re8orvo Pollcy
The tru5te8s have establi8hed 8 pollcywhereby the unr8Strlcted funds held by the charlty
Should not be more than the amount thatwould be enabling it to carry out 3 to 6 rnonths.
main tasks of the organisatlon. At thls Ilght, the Trustees feel they would be able to
continue the current level of reserve. without risking a flnancial drop down, that would
hamper or change the course of charity's main work. At present the unrestricted reserve
is £147,516.
Plansforfutura p6rlod8
Strategic Plan
The Trustees hove developed 8 three-y8ar operational 8n¢J fundr81slng strategy to
strengthen th8 Association's long-term sustainablllty and enhance Its ablllty to dellver
its charlt8ble oblectlves. The Strategic prlorlties include:
Developing 8 8UStain8ble fundlng model by securlng flnanc181 support from a
dlverse range of ch8rltable trusts. foundations, grant-m8klng bodies and other
fundlng sources. enabling the Association to continue dellverlng Its charitable
activltles and respond effectlvely to hum8nitarian needs.
Contlnuingto provlde emergency rellef 8nd humanltarlan asslst8nce to people
8ffected by the confllct In the Tigray Region of Ethlopla. while supporting the
long-term reconstruction and rehabilitation of schools, h881thcare facilities and
other essential community Infrastructure damaged or destroyed durlng the
confllct.
Strengthening collaboration with partn8r organlsatlons and community groups
by establishing dedicated joint working teams to deliver shared projects,
coordinate emergency reliey activities and promote sustainable development
initiatives that benef it communities in the Tigray Region.

Tigray Development Association In The United Kingdom (TDA-UK)
Undertaking comprehensive feasibility studies. professional 8S5essments and
technical investigations into the potential redevelopment of TDA House. Subject
to the outcome of these assessments, the Trustees will explore appropriate
funding opportunities and tinancing options to support the redevelopment
project and secure a sustainable long-term income for the charity.
Developing project proposals to support the reconstruction 8nd modernlsation
ot schools affected by the conflict. incorporating technology. environmental
sustainability and cllm8te-resilient de8ign to improve educatlonal facilltles and
create long-term benefits for future generatlons.
The Trustees wlll continua to revlew the strategic plan regularly to ensure that It rem8lns
responsive to the Associ8tion's charltablg objectlves. the needs of beneficiaries and the
changing operating envlronment.
Accountlng Pollclo8
The accounting pollcles adopted by the ¢harlty are set out In Note 10 to the lin8ncl81
statements. These pollcle8 have been applied conslstently in the preparation of the
flnanclal statements.
As part of the independent audlt, the flnancial statem8ntS and the underlylng
accountlng records are reviewed to ensure that they present 8 true 8nd f81r viaw of the
chBrlty'8 f Snancial posltion 8nd that they comply wSth the applicable 8ccounting
standards and legal requirements.
There were no chang88 to th8 charlty's accounting pollcSes or Its flnanclal reportlng and
audlt procedures durlng the reportlng perlod.
Avallablllty of Asset8 to Fulfll Obilgailons
The Trustees are satlsfled that the charity has sufficient financial resources and
reserves to meet It5 current obligations and to continue deliverlng its charitable
oblectlves. The Trustees regularly revlew the charity's financial Posltlon to 8nsure that
adequate resources are available to meet both operational commitments 8nd future
str8tegiG priorities in a sustainable m8nner.
The financial statements havo been prepared in accordance wwth the legal and
regulatory requirements appllcable to charities in England and Wales and present a true
and fair view of the charity's fin8nciAI position and activities for the reporting p8riod.
The Trustees are responslble for maintaining proper 8ccountlng records that accurat81y
disclose the charity's financial position at any time and 9nable Ihem to ensure that the
financial statements comply with the Ch8rltles Aci and other applicable legislation and
regulations.

Tigray Development Association In The United Kingdom (TDA-UK)
The Trustees are also responsible for safeguarding the assets otthe ch8rlty and for
establishing appropriate systems of Internal control to prevent and detect fraud,
f inancial irregularities, and other forms of misconduct, thereby ensuring the proper
stewardship of the ch8rity's resources.
signed for and on behalf of the Trustees
Date: ...
Name and Posltlon ofTru8tee:
Tlegisty Mengesteab Equbaezgi
Chairperson
10

Tigray Development Association In The United Kingdom (TDA-UK)
Independent Examiner's Reportto the Trust of Tigray Development As30clation In
The United Kingdom (TDA-UK)for the year ended 30" September 2025. Charlty
numberls 1018315
I report on the accounts of the charitylor the year ended 3010912025, which are set out
on pages12to 16.
Responslbllitios and basis ol report
The charity's trustees are r8sponsible for the preparation of the accounts in accordance
wlth th8 requirements of the Charities Act 2011.
I report In respect of my examlnation or th8 Trustee's accounts carried out under section
145 of thg 2011 Act and in carry out of my ex8minatlon. I have followed all the
applicable Dir8Ction given by the Charity Commls8lon under section 14515llbl of the
Act.
Independent examlner'8 Statoment
The Truslees have decided to have an independent examlnatlon carried out and l am
qualified to undertake the ex8rnination by belng 8 quallfied member of Ihe As8oci8tlon
ofchartered Certifled Accountant.
I have completed my ex8mlnation. I confirm that no mater181 matters have come to my
8ttèntlon In connection with the examination which gives me cause to belleve that in,
any material r8spect:
the 8ccountlng records were not kept In accordance wlth section 130 of the
Charltles Act; or
the eccounts dld not accord wlth the accounting r8cords' or
the accounts did not comply wlth the applicable requirement5 concernlng the
form and content of accounts S8t out In the Charltles (Accounts 8n¢J Reports)
R8gulations 2008 other than any requirement thal the 8ccounts give 8'true and
fair'viewwhich Is not a matter consldered as Part of an Indopendent
examination.
I have no concerns and have come 8cross no other matters in connectlon wlth the
examlnation to whiGh attentlon should be drawn in this report in order to enable a
properunderstandingof the accounts to be reached.
Date..
Solomon Tarekegn
Assoclation of Chartered C8rt111ed Accountant
7 SerenityApartment, 11 Monarch Square, London SW11 1AL

Develo
me
iation In The Unite
in
statement of Flnanclal Activities for the Year Ended 30th September 2025
TDA-U
Incoming Resource$
Unrestvicted Restrlcted
Fund
Fund
Total
Total
Notes
2025
2024
Membership
Other Fieceipts
Donation
Fund Raislng Activltle5
Bank Interest
7275
7275
7201
16,644
3,148
3273
436
759
759
3,273
3273
2817
92.400
106,524
2P17
Rental Income
Total Incomlng Resources
92,400
95,673
93,900
124,601
10,851
Resources Expended
Charltable Costs
69,520
78,033
69520
79533
12,546
12,035
Governance
1,500
Other resources
Total Resou￿0• Expended
1,500
147.553
149.053
24,581
Net Movement In Fundi
9,351
(51,8801
{42529>
100,020
Transfer betrieen Funds
Fund Balance Brought Forward
Adjustment made durlng the priod
Fund Balances Carrled Forward
112,078
1846,608
1.958,686
1.958fy86
121429
1794 728
1916 157
2 058 71)6
All the Charitys activitles are contlnulng.
The charity has no recognised gains or loss other than the net in¢omlng reslurces for the year.
The movement in reserves is shown above.
The notes on page I I to 13 form part ofthese financial statements
13

IA
ssociation In The Uni
BALANCE SHEET AS AT SEPTEMBER 2025
2025
2024
Tanglble Flxed Assets
I,n6275
1.727J91
Current A55ets
Debtors
57245
11220
Prepayments
Cash at hand In Bank
6564
3.405
269,359
371.224
333.168
385.848
Credltorr. Amounts f￿Nn% due
wSth in one yeor
Net Current Ass¢¢slL12bSlltles
43267
54534
289,901
331.314
Net Agmts
2.016.176
2,058.705
Accumul*tsd Funds Account
iknr•strla¢d Fund Brought Forward
Surplus (Defidtl Of Unrestrlcted Fund
Pre￿0V5 Yw Adjustmenc to &Jrplus (Dddtl Lhresty
138,165
112.07e
9.351
26￿87
147316
138.165
Restylrtad Fund 8rought Forward
&Jr￿U$ (Defidtl of Kestrlcted Fund
1,920,540
IM46M18
51I80
I￿68￿60
1.016.170
1,920,S40
I058 70S
We aPprO￿d th• FInancI￿ Statement and conftrm that wè havve rfAd• avallable all releventt r•cords and
lftformadon for thelr ￿ePara￿on.
Sl8ned on behall of th¢ Tru$t¢es on .
Si8n•d
Trustee Name
14

ment Association In T
NOTES TO THE FINANCIAL sfATEMENTS
Forthe peAod ended 30 September 2025
dKin
dom
DA-U
UnrertActed Restrfrted Total Funds Total Funds
Fund
Fund
2025
2024
2. Charftable Costs
Wages including Employer$ NIC
Ra£e5, Insurance & deanlng
Llgh¢ Heat & Water
Management and Admln
Consaltancy Fees
Repalrs & Maintenan
Other Offi￿ Expenses
10,669.54
11,486.71
10,669.54
11,486.71
5,520.81
3,148.74
33,86S.00
11,454.00
2.044.76
69 520.01
1,200.0)
1.052.¢)0
1,624.92
12 546.47
11,454.CM)
2.044.76
69.520.01
3. Governanc*
Unre5trl¢ted Rertrfcted Total Fund$ Total Funds
Fund
Fund
2024
2023
1.406.55
1.406.55
Management and Admin5tratlon
Overseas Donation-Accident Victlm Rell¢f
Contrib4Jtion to school oversea5
Fund R21slng events. expenses
Accoyntan¢y Fees
Bank Charges
50,445.00
75.000.00
75,000.00
1500.00
1,500.
126.LN)
126.00
I,5￿.00 76,532.55 78,032.55
1.500.(
89.70
12.034.70
4. Other Expen$¢J
Unrestrlcted Restrfcted Total Funds Totsl Funds
Fund
Fund
2025
2024
Depreciatlon
4& Net Income Re￿UrCeS (D¢fklt)
2025
2024
4b. Donatlonj In klnd
Th¢r¢ were no donatyons in kind duringthe pÈrl(
S. Employees
The averw number of people enwloyed during t
15

Develo
ssociation In The Uni
DA-UK
6. Debto
2025
2024
Other Debtors-thiliry Bill
Rent OwSng {IBEX)
21233.00
36,012.00
57245.00
19,315S3
19,31553
6& Prepayment
Insurance PrepayThent
Business Rate
4.518.94
2.047.30
6,564.24
Land and
1,932.53
1.472.05
3,404.58
Flxthres
7.Tanglble Flxed Ass•ts
Buildin8S
Free htsld
Fittln85 and
Equipment
Cost at 1st Ottober 2023
Addltion
1,726275.00
26,780.78
1,726275.00
26.780.78
Depreclation a¢ 1st Cktob*r 2024
Charge for the >Ear
DeprecSatlon carried Forward
25292.38
372.10
25,664.48
Net Book Value at 30 September 2025
net Book Value at 30 September 2024
1488.40
8. Credltors fallln8 due wlthln one year
lois
2024
Tenants Dep055t5
Rent Recelyed In AdYan¢e
Other Accruals
Accrvals . Tender Deposlt
Audit Fees
11,767.00
8.966.66
10,067.00
8,000￿0
26,000.00
15OOnO
54533.66
4.000.00
26,000.00
15OOnO
43.267.00
9 An*s15 of Net Assets
2025
Z024
Tanglble Flxed A55ets5
Current Assets
Current LlabllStles
1,726275nO
333.168.24
43267.00
2016 17624
1,11630
38SO4822
54533.66
332 430A6
l O Outstandlng Legal Case
Jbsequent to the blance Sheet date, a post balance sheet event has arisen involving a di5PUte with the
tenant ol one of the chariry's restyjrant propertye5 re8Hrding the ￿rmInatIOn clause In their lease
ag￿emenL The matter 15 being currently handled by the charl￿$ legal ad￿SOr$, who remain optinw5ti¢
about favourable outcome. How•￿r, should the case not be resolved in the charity's fa*Aour. there 15
pgtentlonal exposure to litigation costs and compensation amount ¢0 approximately £60,000
15

Develo
ment Associ
n l The Unitrd Kin
dom
DA-UK
Tlgray Development A550ciation In The United Kingdom (TDA-UK)
Notes to the Flnancial Statements for the period ended 30th September 2025
l Accounting Pollcles
a) The financial statements have been prepared in accordance wlth applicable Accounting
Sondard and follow the recommendations in The Statement of Recommended Prac¢ice -
Accounting and Reporting by Charities.
Baslc preparntion of account$
The financial statements have been prepared on historical cost conventlon and Include the
results of the charlty'$ operatlons whlth are described in the Trustees Report and all ol
which are contynuin£.
Incomlng Resources
b) Voluntary Income is received by way of donation5 and glfts and is included In ffijll In the
statement of financial activitles when recelved (if any).
b l) Contrlbutlon from members as subscription15 recognized as Income when recelved.
C} Donatlons In kind are valued and Included In Income to the extent that it represents goods
or servlces whlch would otherwise be purchased (if any).
Grants are recogn15ed In full In the Statements of Financlal Acuvicies in the year In which
they are recelyed, or receiwable. whlchever is earller.
e) Rental Income is recognlsed as Income In the period in whlch It Is recelvable.
RestrIc￿d funds are to be used for specified purposes as lald down by the donor, and as
lald down by the trustees. Expenditure which meets these criteria is identified to the fund.
Lhrestrlcted funds are donation5 and other Income received or generaRd for the
charltable purposes.
Expenditu
h) Governance c05t of the charlty related administration costs of running the charlty such as
the c05t of meetings, audit and statutory compliance. They also Include cost incurred in the
general administration of the charity and which can not be dlrectly attrlbuted to the
prowsion ofthe services ofthe orpnisation.
) Depreciation is provided on all tsn8ible fixed assets except the freehold buildln& at a rdte
calCula￿d to write of the c05t of each asset over its expecfrd useful Ilfe. as follows..
Fixtures and Fittings
25% on written down Wdlue
offi￿ Equipment
25% on wrltten down Ydlue
16