## **Dallow Development Trust Limited**
**(A company limited by guarantee)**
**Charity No. 1088329**
**Company No. 04121285**
**Trustees' Report and Unaudited Accounts**
**31 March 2024**
**Dallow Development Trust Limited Contents**
||Pages||
|---|---|---|
|Trustees' Annual Report|2 to 3||
|Statement of Trustee Responsibilities||4|
|Independent Examiner's Report||5|
|Statement of Financial Activities||6|
|Summary Income and Expenditure Account||7|
|Balance Sheet||8|
|Notes to the Accounts|9 to|14|
|Detailed Statement of Financial Activities|15 to|16|
Page 1
**Dallow Development Trust Limited Trustees Annual 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 2024.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Company No. 04121285**
## **Charity No. 1088329**
## **Registered Office**
Dallow Development Trust Ltd The Dallow Centre 234 Dallow Road Luton 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 (Resigned 3 July 2023) D. Ali G.I. McKetty M.A. Shaw A. Ustun
## **Company Secretary**
H. Ahmed
## **Accountants**
Incisive Accounting Limited 52 Grosvenor Gardens London SW1W 0AU
Page 2
**Dallow Development Trust Limited Trustees Annual Report**
## **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.
## **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 Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
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 29 August 2024
Page 3
**Dallow Development Trust Limited Statement of Trustee 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 29 August 2024 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 2024.
## **Responsibilities and basis of report**
As the charity's trustees of the company (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:
- 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 methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (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 29 August 2024
Page 5
**Dallow Development Trust Limited Statement of Financial Activities**
## **for the year ended 31 March 2024**
|**Notes**
**Income and endowments**
**from:**
Investments
4
Other
5
**Total**
**Expenditure on:**
Charitable activities
6
**Total**
Net gains on investments
**Net expenditure**
7
Transfers between funds
**Net expenditure 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**
**2024**
**£**
1,002
177,330|**Restricted**
**funds**
**2024**
**£**
-
-|**Total funds**
**2024**
**£**
1,002
177,330|**Total funds**
**2023**
**£**
246
158,301|
|---|---|---|---|---|
||178,332
179,367|-
-|178,332
179,367|158,547
196,782|
||179,367
-|-
-|179,367
-|196,782
-|
||(1,035)
-|-
-|(1,035)
-|(38,235)
-|
||(1,035)|-|(1,035)|(38,235)|
||(1,035)
89,512|-
1,041,739|(1,035)
1,131,251|(38,235)
1,169,486|
||88,477|1,041,739|1,130,216|1,131,251|
Page 6
**Dallow Development Trust Limited Summary Income and Expenditure Account**
## **for the year ended 31 March 2024**
|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 before tax for the year
**Net expenditure for the year**|**2024**
**£**
177,330
1,002
178,332
162,786
287
16,294
179,367
(1,035)
(1,035)|**2023**
**£**
158,301
246|
|---|---|---|
|||158,547|
|||179,141
385
17,256|
|||196,782|
|||(38,235)|
|||(38,235)|
Page 7
**Dallow Development Trust Limited Balance Sheet**
## **at 31 March 2024**
|**Company No.**
**04121285**
**Notes**
**2024**
**£**
**Fixed assets**
Tangible assets
9
1,044,438
1,044,438
**Current assets**
Debtors
10
895
Cash at bank and in hand
115,541
116,436
**Creditors:**Amount falling due within one year
11
(25,421)
**Net current assets**
91,015
**Total assets less current liabilities**
1,135,453
**Creditors:**Amounts falling due after more than one year
12
(5,237)
**Net assets excluding pension asset or liability**
1,130,216
**Total net assets**
1,130,216
**The funds of the charity**
**Restricted funds**
13
Restricted income funds
1,041,739
1,041,739
**Unrestricted funds**
13
Designated funds
88,477
88,477
**Reserves**
13
**Total funds**
1,130,216|**2023**
**£**
1,060,731|
|---|---|
||1,060,731
8,246
97,695|
||105,941
(26,013)|
||79,928
1,140,659
(9,408)|
||1,131,251|
||1,131,251|
||1,041,739|
||1,041,739
89,512|
||89,512|
||1,131,251|
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 2024 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 29 August 2024
And signed on its behalf by:
G.I. McKetty Trustee
29 August 2024
Page 8
**Dallow Development Trust Limited Notes to the Accounts**
## **for the year ended 31 March 2024**
- 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**
## 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**
|3
**Statement of Financial Activities - prior year**||||
|---|---|---|---|
|**Income and endowments from:**
Investments
Other
**Total**
**Expenditure on:**
Other
**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 investments**
Bank interest receivable
5
**Other income**
Rental income|**Unrestricted**
**funds**
**2023**
**£**
246
158,301
158,547
185,447
185,447
(26,900)
(26,900)
(26,900)
116,412
89,512
**Unrestricted**
**£**
1,002
1,002
**Unrestricted**
**£**
177,330
177,330|**Restricted**
**funds**
**2023**
**£**
-
-
-
11,335
11,335
(11,335)
(11,335)
(11,335)
1,053,074
1,041,739
**Total**
**2024**
**£**
1,002
1,002
**Total**
**2024**
**£**
177,330
177,330|**Total funds**
**2023**
**£**
246
158,301|
||||158,547
196,782|
||||196,782|
||||(38,235)|
||||(38,235)|
||||(38,235)
1,169,486|
||||1,131,251|
||||**Total**
**2023**
**£**
246|
||||246|
||||**Total**
**2023**
**£**
158,301|
||||158,301|
Page 11
**Dallow Development Trust Limited Notes to the Accounts**
## 6 **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
7
**Net expenditure before transfers**
This is stated after charging:
Depreciation of owned fixed assets
8
**Staff costs**
Salaries and wages
No employee received emoluments in excess
9
**Tangible fixed assets**
**Cost or revaluation**
At 1 April 2023
At 31 March 2024
**Depreciation and**
**impairment**
At 1 April 2023
Depreciation charge for the
year
At 31 March 2024
**Net book values**
At 31 March 2024
At 31 March 2023|of £60,000.
**Land and**
**buildings**
**£**
1,305,143
1,305,143
256,402
13,051
269,453
1,035,690
1,048,741|**Unrestricted**
**£**
287
84,465
98
65,358
16,294
10,037
2,828
179,367
**2024**
**£**
16,294
**2024**
84,465
84,465
**Computer**
**equipments**
**£**
85,361
85,361
85,035
326
85,361
-
326|**Total**
**2024**
**£**
287
84,465
98
65,358
16,294
10,037
2,828
179,367
**Furniture &**
**fixture**
**£**
145,887
145,887
134,223
2,916
137,139
8,748
11,664|**Total**
**2023**
**£**
385
83,421
57
54,603
17,256
37,862
3,198|
|---|---|---|---|---|
|||||196,782|
|||||**2023**
**£**
17,256
**2023**
83,421|
|||||83,421|
|||||**Total**
**£**
1,536,391|
|||||1,536,391|
|||||475,660
16,293|
|||||491,953|
|||||1,044,438|
|||||1,060,731|
Page 12
**Dallow Development Trust Limited Notes to the Accounts**
## 10 **Debtors**
|Trade debtors
Prepayments and accrued income
11 **Creditors:**
amounts falling due within one year
Bank loans and overdrafts
Trade creditors
Accruals
12 **Creditors:**
amounts falling due after more than one year
Bank loans and overdrafts
13 **Movement in funds**
**At 1 April**
**2023**
**Restricted funds:**
**Restricted income funds:**
1,041,739
_Total_
1,041,739
**Unrestricted funds:**
**Designated funds:**
89,512
_Total_
89,512
**Total funds**
1,131,251|**2024**
**£**
-
895
895
**2024**
**£**
4,073
15,485
5,863
25,421
**2024**
**£**
5,237
5,237
**Incoming**
**resources**
**(including**
**other**
**gains/losses**
**)**
**£**
-
-
178,332
178,332
178,332|**Resources**
**expended**
**£**
-
-
(179,367)
(179,367)
(179,367)|**2023**
**£**
7,724
522|
|---|---|---|---|
||||8,246|
||||**2023**
**£**
3,875
15,572
6,566|
||||26,013|
||||**2023**
**£**
9,408|
||||9,408|
||||**At 31**
**March**
**2024**
**£**
1,041,739|
||||1,041,739|
||||88,477|
||||88,477|
|||||
||||1,130,216|
Page 13
**Dallow Development Trust Limited Notes to the Accounts**
## 14 **Analysis of net assets between funds**
|**Analysis of net assets between funds**||||
|---|---|---|---|
|Fixed assets
Net current assets
Creditors due in more than one year and
provisions
**Reconciliation of net debt**
Cash and cash equivalents
Bank loans
Net debt|**At 1 April**
**2023**
**£**|**Unrestricted**
**funds**
**£**
1,044,438
91,015
(5,237)
1,130,216
**Cash flows**
**£**|**Total**
**£**
1,044,438
91,015
(5,237)|
||||1,130,216|
||||**At 31**
**March**
**2024**
**£**|
||97,695|17,846|115,541|
||97,695
(13,282)
(13,282)
84,413|17,846
3,972
3,972
21,818|115,541
(9,310)|
||||(9,310)|
||||106,231|
## 15 **Reconciliation of net debt**
## 16 **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 2024**
|**Income and endowments from:**
Investments
Bank interest receivable
Other
Rental income
**Total income**
**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
Bad debts
Equipment leasing and hire
charges
Software, IT support and related
costs
Stationery and printing|**Unrestricte**
**d funds**
**2024**
**£**
1,002
1,002
177,330
177,330
178,332
287
287
84,465
84,465
98
98
1,162
31,852
9,913
2,148
20,283
65,358
-
16,294
-
4,383
2,577
940|**2024**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|**Total funds**
**2024**
**£**
1,002
1,002
177,330
177,330
178,332
287
287
84,465
84,465
98
98
1,162
31,852
9,913
2,148
20,283
65,358
-
16,294
-
4,383
2,577
940|**Total funds**
**2023**
**£**
246|
|---|---|---|---|---|
|||||246|
|||||158,301|
|||||158,301|
|||||158,547
385|
|||||385|
|||||83,421|
|||||83,421|
|||||57|
|||||57|
|||||1,841
21,359
8,824
1,848
20,731|
|||||54,603|
|||||-
17,256
23,256
3,454
7,884
1,114|
Page 15
## **Dallow Development Trust Limited Detailed Statement of Financial Activities**
|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**
**Net expenditure before other**
**gains/(losses)**
Other Gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|337
1,800
26,331
2,448
380
2,828
179,367
179,367
-
(1,035)
(1,035)
-
(1,035)
89,512
88,477|-
-
-
-
-
-
-
-
-
-
-
-
-
1,041,739
1,041,739|337
1,800
26,331
2,448
380
2,828
179,367
179,367
-
(1,035)
(1,035)
-
(1,035)
1,131,251
1,130,216|352
1,802|
|---|---|---|---|---|
|||||55,118|
|||||2,448
750|
|||||3,198|
||||||
|||||196,782|
|||||196,782
-|
|||||(38,235)|
|||||(38,235)
-|
|||||(38,235)|
|||||1,169,486|
|||||1,131,251|
Page 16