Dallow Development Trust Limited
(A company limited by guarantee)
Charity No. 1088329
Company No. 04121285
Trustees' Report and Unaudited Accounts
for the Year Ended 31 March 2022
Dallow Development Trust Limited Contents
| Pages | |
|---|---|
| Trustees' Report | 2 to 3 |
| Statement of Trustees' responsibilities | 4 to 4 |
| Independent Examiner's Report | 5 to 5 |
| Statement of Financial Activities | 6 to 6 |
| Summary Income and Expenditure Account | 7 to 7 |
| Balance Sheet | 8 to 8 |
| Notes to the Accounts | 9 to 14 |
| Detailed Statement of Financial Activities | 15 to 16 |
Page 1
Dallow Development Trust Limited Trustees Report
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 04121285
Charity No. 1088329
Registered Office
Dallow Learning Community Centre 234 Dallow Road Luton, Beds LU1 1TB
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
Z. Ahmed D. Ali G.I. McKetty M.A. Shaw A. Ustun
Company Secretary
H. Ahmed
Accountants
Incisive Accounting Limited 52 Grosvenor Gardens London SW1W 0AU
Objectives and activities
Public benefit
In setting our objectives and planning our activities the trustees have considered the Charity Commissions general guidance on public benefit. The trustees consider that the objectives for the current year satisfy this guidance.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 2
Dallow Development Trust Limited Trustees Report
Structure, governance and management
Organisational structure
Constitution
Dallow Development Trust Ltd is a registered charity and a company registered in England by guarantee. It was incorporated on 4 December 2000 and is governed by its memorandum and articles of association.
Organisational Structure
The charity is wholly UK based with its head office and projects based in Luton, Bedfordshire. The trustees meet regularly during a period to determine the policy and strategy of the charity. The centre's management is carried out by members of staff who are given responsibility by the trustees for the day-to-day decision. The charity is responsible for the day to day activities of the The Dallow Centre.
The trustees of the company who served during the year are listed with the legal and administrative details. Policy and strategy are decided by the Board following consultation with staff. Decisions regarding daily of services in line with board decisions are delegated to The Dallow Centre, Centre Development Manager and staff. Trustees expect staff to keep them informed of potential opportunities and challenges which may lead to new developments.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
G.I. McKetty Trustee 14 November 2022
Page 3
Dallow Development Trust Limited Statement of Trustees Responsibilities
The trustees (who are also the directors of Dallow Development Trust Limited for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Dallow Development Trust continues to make a positive impact on the local community by providing both educational and recreational activities at The Dallow Centre with our partners in both the voluntary and statutory sectors, creating cohesive communities amongst the diverse residents that reside in the area. The Dallow Centre is the central hub within the Dallow Ward, which is accessed by a number of charitable organisations for various charitable events, in order to fund raise for both national and international causes. This provides the Trust further opportunities to build their capacity in terms of multi-agency work and at the same time raising our profile locally, nationally and internationally.
Approved by the trustees of the charity on 14 November 2022 and signed on its behalf by:
.........................................
Mr Gary Ian McKetty Chairman
Page 4
Dallow Development Trust Limited Independent Examiners Report
Independent Examiner's Report to the trustees of Dallow Development Trust Limited
I report to the charity trustees on my examination of the financial statements of Dallow Development Trust Limited for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the Charities SORP (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Yasar Khan A.C.A Incisive Accounting Limited 52 Grosvenor Gardens London
SW1W 0AU 14 November 2022
Page 5
Dallow Development Trust Limited Statement of Financial Activities
for the year ended 31 March 2022
| Notes Income and endowments from: Donations 4 Investments 5 Other 6 Total Expenditure on: Charitable activities 7 Total Net gains on investments Net (expenditure)/income 8 Transfers between funds Net (expenditure)/income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2022 £ - 23 122,583 |
Restricted funds 2022 £ 15,623 - - |
Total funds 2022 £ 15,623 23 122,583 |
Total funds 2021 £ 45,600 37 88,085 |
|---|---|---|---|---|
| 122,606 100,368 |
15,623 63,964 |
138,229 164,332 |
133,722 100,470 |
|
| 100,368 - |
63,964 - |
164,332 - |
100,470 - |
|
| 22,238 - |
(48,341) - |
(26,103) - |
33,252 - |
|
| 22,238 | (48,341) | (26,103) | 33,252 | |
| 22,238 94,174 |
(48,341) 1,101,415 |
(26,103) 1,195,589 |
33,252 1,162,337 |
|
| 116,412 | 1,053,074 | 1,169,486 | 1,195,589 |
Page 6
Dallow Development Trust Limited Summary Income and Expenditure Account
for the year ended 31 March 2022
| Income Interest and investment income Gross income for the year Expenditure Interest payable Depreciation and charges for impairment of fixed assets Total expenditure for the year Net (expenditure)/income for the year |
2022 £ 138,206 23 138,229 145,328 351 18,653 164,332 (26,103) |
2021 £ 133,685 37 |
|---|---|---|
| 133,722 | ||
| 85,998 - 14,472 |
||
| 100,470 | ||
| 33,252 |
Page 7
Dallow Development Trust Limited Balance Sheet
at 31 March 2022
| Company No. 04121285 Notes 2022 £ Fixed assets Tangible assets 10 1,077,604 1,077,604 Current assets Debtors 11 24,376 Cash at bank and in hand 100,971 125,347 Creditors:Amount falling due within one year 12 (20,183) Net current assets 105,164 Total assets less current liabilities 1,182,768 Creditors:Amounts falling due after more than one year 13 (13,282) Net assets excluding pension asset or liability 1,169,486 Total net assets 1,169,486 The funds of the charity Restricted funds 14 Restricted funds 1,053,074 1,053,074 Unrestricted funds 14 Unrestricted funds 116,412 116,412 Reserves 14 Total funds 1,169,486 |
2021 £ 1,078,669 |
|---|---|
| 1,078,669 49,606 96,553 |
|
| 146,159 (12,572) |
|
| 133,587 1,212,256 (16,667) |
|
| 1,195,589 | |
| 1,195,589 | |
| 1,101,415 | |
| 1,101,415 94,174 |
|
| 94,174 | |
| 1,195,589 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 March 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 14 November 2022
And signed on its behalf by:
G.I. McKetty Trustee
14 November 2022
Page 8
Dallow Development Trust Limited Notes to the Accounts
for the year ended 31 March 2022
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations Voluntary income received by way of grants, donations and gifts is included in the the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
-
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 9
Dallow Development Trust Limited Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Leasehold property 1% Straight line Computer equipments 33% Straight line Furniture & fixture 25% Reducing
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 10
Dallow Development Trust Limited Notes to the Accounts
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
3 Statement of Financial Activities - prior year
| Income and endowments from: Donations Investments Other Total Expenditure on: Charitable activities Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from donations and grants Donation and grants from Charitable Trusts and Foundations |
Unrestricted funds 2021 £ - 37 88,085 88,122 57,324 57,324 30,798 30,798 30,798 63,376 94,174 Restricted £ 15,623 15,623 |
Restricted funds 2021 £ 45,600 - - 45,600 43,146 43,146 2,454 2,454 2,454 1,098,961 1,101,415 Total 2022 £ 15,623 15,623 |
Total funds 2021 £ 45,600 37 88,085 |
|---|---|---|---|
| 133,722 100,470 |
|||
| 100,470 | |||
| 33,252 | |||
| 33,252 | |||
| 33,252 1,162,337 |
|||
| 1,195,589 | |||
| Total 2021 £ 45,600 |
|||
| 45,600 |
Page 11
Dallow Development Trust Limited Notes to the Accounts
5 Income from investments
| Bank interest receivable 6 Other income Rental income Covid 19 small business government grant 7 Other expenditure Bank loan and overdraft interest payable Employee costs Motor and travel costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 8 Net (expenditure)/income before transfers This is stated after charging: Depreciation of owned fixed assets 9 Staff costs Salaries and wages |
Unrestricted £ 131 62,184 26 16,475 6,973 13,430 1,149 100,368 |
Unrestricted £ 23 23 Unrestricted £ 97,179 25,404 122,583 |
Total 2022 £ 23 23 Total 2022 £ 97,179 25,404 122,583 |
Total 2021 £ 37 |
|---|---|---|---|---|
| 37 | ||||
| Total 2021 £ 63,085 25,000 |
||||
| 88,085 | ||||
| Restricted £ 220 - 44 27,600 11,680 22,496 1,924 63,964 2022 £ 18,653 2022 62,184 62,184 |
Total 2022 £ 351 62,184 70 44,075 18,653 35,926 3,073 164,332 |
Total 2021 £ - 31,569 - 35,595 14,472 12,126 6,708 |
||
| 100,470 | ||||
| 2021 £ 14,472 2021 31,569 |
||||
| 31,569 |
No employee received emoluments in excess of £60,000.
Page 12
Dallow Development Trust Limited Notes to the Accounts
10 Tangible fixed assets
| Land and buildings £ Cost or revaluation At 1 April 2021 1,305,143 Additions - At 31 March 2022 1,305,143 Depreciation and impairment At 1 April 2021 230,299 Depreciation charge for the year 13,051 At 31 March 2022 243,350 Net book values At 31 March 2022 1,061,793 At 31 March 2021 1,074,844 11 Debtors Trade debtors Other debtors Prepayments and accrued income 12 Creditors: amounts falling due within one year Bank loans and overdrafts Trade creditors Other creditors Accruals 13 Creditors: amounts falling due after more than one year Bank loans and overdrafts |
Computer equipments £ 84,401 960 85,361 84,172 546 84,718 643 229 2022 £ 24,081 - 295 24,376 2022 £ 3,875 13,088 - 3,220 20,183 2022 £ 13,282 13,282 |
Furniture & fixture £ 128,877 16,627 145,504 125,280 5,056 130,336 15,168 3,597 |
Total £ 1,518,421 17,587 |
|---|---|---|---|
| 1,536,008 | |||
| 439,751 18,653 |
|||
| 458,404 | |||
| 1,077,604 | |||
| 1,078,670 | |||
| 2021 £ 47,212 2,254 140 |
|||
| 49,606 | |||
| 2021 £ 3,333 5,017 1,775 2,447 |
|||
| 12,572 | |||
| 2021 £ 16,667 |
|||
| 16,667 |
Page 13
Dallow Development Trust Limited Notes to the Accounts
14 Movement in funds
| 14 Movement in funds | ||||
|---|---|---|---|---|
| Restricted funds: Restricted income funds: Total Unrestricted funds: Designated funds: Total Total funds 15 Analysis of net assets between funds Fixed assets Net current assets Creditors due in more than one year and provisions 16 Reconciliation of net debt Cash and cash equivalents Bank loans Net debt |
At 1 April 2021 1,101,415 1,101,415 94,174 94,174 1,195,589 |
Incoming resources (including other gains/losses ) £ 15,623 15,623 122,606 122,606 138,229 At 1 April 2021 £ |
Resources expended £ (63,964) (63,964) (100,368) (100,368) (164,332) Unrestricted funds £ 1,077,604 105,164 (13,282) 1,169,486 Cash flows £ |
At 31 March 2022 £ 1,053,074 |
| 1,053,074 | ||||
| 116,412 | ||||
| 116,412 | ||||
| 1,169,486 | ||||
| Total £ 1,077,604 105,164 (13,282) |
||||
| 1,169,486 | ||||
| At 31 March 2022 £ |
||||
| 96,553 | 4,418 | 100,971 | ||
| 96,553 (20,000) (20,000) 76,553 |
4,418 2,843 2,843 7,261 |
100,971 (17,157) |
||
| (17,157) | ||||
| 83,814 |
17 Related party disclosures
Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 14
Dallow Development Trust Limited Detailed Statement of Financial Activities
for the year ended 31 March 2022
| Income and endowments from: Donations Donation and grants from Charitable Trusts and Foundations Investments Bank interest receivable Other Rental income Covid 19 small business government grant Total income and endowments Expenditure on: Other expenditure Bank loan and overdraft interest payable Employee costs Salaries/wages Motor and travel costs Travel and subsistence Premises costs Rates Light, heat and power Premises cleaning Premises insurances Premises repairs and maintenance General administrative costs, including depreciation and amortisation Depreciation of Computer equipments Depreciation of Furniture & fixture |
Unrestricte d funds 2022 £ - - 23 23 97,179 25,404 122,583 122,606 131 131 62,184 62,184 26 26 196 4,473 2,434 668 8,704 16,475 - 6,973 |
Restricted funds 2022 £ 15,623 15,623 - - - - - 15,623 220 220 - - 44 44 329 7,494 4,077 1,120 14,580 27,600 - 11,680 |
Total funds 2022 £ 15,623 15,623 23 23 97,179 25,404 122,583 138,229 351 351 62,184 62,184 70 70 525 11,967 6,511 1,788 23,284 44,075 - 18,653 |
Total funds 2021 £ 45,600 |
|---|---|---|---|---|
| 45,600 | ||||
| 37 | ||||
| 37 | ||||
| 63,085 25,000 |
||||
| 88,085 | ||||
| 133,722 - |
||||
| - | ||||
| 31,569 | ||||
| 31,569 | ||||
| - | ||||
| - | ||||
| 459 8,240 6,040 1,753 19,103 |
||||
| 35,595 | ||||
| - 14,472 |
Page 15
Dallow Development Trust Limited Detailed Statement of Financial Activities
| Bad debts Equipment leasing and hire charges Software, IT support and related costs Stationery and printing Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net (expenditure)/income Net (expenditure)/income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
8,693 1,694 869 753 625 796 20,403 915 234 1,149 100,368 100,368 - 22,238 22,238 - 22,238 94,174 116,412 |
14,563 2,837 1,454 1,262 1,046 1,334 34,176 1,533 391 1,924 63,964 63,964 - (48,341) (48,341) - (48,341) 1,101,415 1,053,074 |
23,256 4,531 2,323 2,015 1,671 2,130 54,579 2,448 625 3,073 164,332 164,332 - (26,103) (26,103) - (26,103) 1,195,589 1,169,486 |
- 7,712 781 1,125 957 1,551 |
|---|---|---|---|---|
| 26,598 | ||||
| 2,472 4,236 |
||||
| 6,708 | ||||
| 100,470 | ||||
| 100,470 - |
||||
| 33,252 | ||||
| 33,252 - |
||||
| 33,252 | ||||
| 1,162,337 | ||||
| 1,195,589 |
Page 16