Dallow Development Trust Limited Charity No. 1088329 Company No. 04121285 Trustees, Report and Unaudited Accounts 31 March 2025
Dallow Development Trust Limited Contents Pages Trustees, Annual Report Statement of trustee responsibilities Independent Examiner's Report Statement of Financial Activities 2to3 Summary Income and Expenditure Account Balance Sheet Notes to the Accounts 9t014 Detailed Statement of Financial Activities 15to16 Page I
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 2025. REFERENCE AND ADMINISTRATIVE DAll5 Company No. 04121285 Charity No. 1088329 Registered Office Dallow Development Trust Ltd The Dallow Centre 234 Dallow Road Luton LUI ITB 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- D. Ali G.1. McKetty M.A. Shaw A. Ustun (Resigned 31 July 2024) Company Secretary H. Ahmed Accountants AFE Accountants Limited Building 3, North London Business Park. New Southgate, London NII IGN OBJEcfivES AND AcfiviTIES 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 Annual 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 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 IFRS 102). Signed on behalf of the board G.1. McKetty Trustee 10 November 2025 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 50RP; 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 3t the same time raising our profile locally, nationally and internationally. Approved by the trustees of the charity on 10 November 2025 and signed on its behalf by: Mr Gary lan 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 2025. Responsibilities and ba515 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'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{51 Ibl 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 1021. 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. Adam Feyzi FCCA AFE Accountants Limited Building 3, North London Business Park, New Southgate, London NII IGN 10 November 2025 Page 5
Dallow Development Trust Limited Statement of Financial Activities for the year ended 31 March 2025 Unrestricted funds Restricted funds Total funds Total funds 2025 2025 2025 2024 Notes Income and endowments from: Investments 1,002 184,865 1,002 184,865 1,002 177,330 Other Total 185,867 185,867 178,332 Expenditure on: Other 186,128 186,128 179,367 Total 186,128 186,128 179,367 Net gains on investments Net expenditure (2611 12611 11,0351 Transfers between funds Net expenditure before other gains/{losses) (2611 12611 11,0351 Other gains and losses Net movement in funds (2611 12611 11,0351 Reconciliation of funds: Total funds brought forward 88.477 1.041.739 1,130.216 1,131,251 Total funds carried forward 88,216 1,041,739 1,129,955 1,130,216 Page 6
Dallow Development Trust Limited Summary Income and Expenditure Account for the year ended 31 March 2025 2025 2024 Income 184,865 177,330 Interest and investment income 1,002 1,002 Gross income for the year Expenditure 185,867 178,332 168,639 162,786 Interest payable 186 287 Depreciation and charges for impairment of fixed assets 17,303 16,294 Total expenditure for the year Net expenditure before tax for the year 186,128 179,367 {261) (1,035) Net expenditure for the year {261) {1,035) Page 7
Dallow Development Trust Limited Balance Sheet at 31 March 2025 Company No. 04121285 Notes 2025 2024 Fixed assets Tangible assets 1,035,394 1,035,394 1,044,438 1,044,438 Current assets Debtors Cash at bank and in hand io 993 895 120,933 121,926 (26,2011 95.725 115,541 116,436 125,4211 91,015 Creditors: Amount falling due within one year li Net current assets Total assets less current liabilities 1,131,119 {1,1641 1,135,453 15,2371 Creditors: Amounts falling due after more than one year Net assets excluding pension asset or liability 12 1,129,955 1,130,216 Total net assets 1,129,955 1,130,216 The funds of the charity Restricted funds 13 Restricted income funds 1,041,739 1,041,739 1,041,739 1,041,739 Unrestricted funds 13 Designated funds 88,216 88,477 88,216 88,477 Reserves 13 Total funds 1,129,955 1,130,216 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 2025 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 10 November 2025 And signed on its behalf by: G.1. McKetty Trustee 10 November 2025 Page 8
Dallow Development Trust Limited Notes to the Accounts for the year ended 31 March 2025 l 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 IFRS 102) (effective I January 20151 (Charities SORP IFRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 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. These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Designated funds Revaluation funds Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Income Recognition of income Income is included in the Statement of Financial Activities ISOFAI when the charity 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 and legacies 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/llossesl 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/llossesl on investment assets This includes any gain or loss on the sale of investments. Page 9
Dallow Development Trust Limited Notes to the Accounts Expenditure Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes any VAT which 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. 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. 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. These are support costs not allocated to a particular activity. Grants payable Governance costs Other expenditure 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 Computer equipments 1% Straight line 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 Artivities- prior year Unrestricted funds Restricted funds Total funds 2024 2024 2024 Income and endowments from: Investments 1,002 177,330 1,002 177,330 Other Total 178,332 178,332 Expenditure on: Other 179.367 179,367 Total 179,367 179,367 Net income {1,0351 11,0351 Net income before other gains/{losses) Other gains and losses: Net movement in funds {1,0351 {1,0351 {1,0351 11,0351 Reconciliation of funds: Total funds brought forward Total funds carried forward 89,512 1,041,739 1,131,251 88,477 1,041,739 1,130,216 4 Income from investments Unrestricted Total Total 2025 2024 Bank interest receivable 1.002 1,002 1,002 1,002 1,002 1.002 5 Other income Unrestricted Total Total 2025 2024 Rental income 184,865 184,865 184,865 184,865 177,330 177,330 Page 11
Dallow Development Trust Limited Notes to the Accounts 6 Other expenditure Unrestricted Total Total 2025 2024 Bank loan and overdraft 186 186 287 interest payable Employee costs Motor and travel costs 88.076 18 88,076 18 84,465 98 Premises costs 67.340 67,340 65,358 Amortisation, depreciation, impairment, profit/los5 on disposal of fixed assets General administrative costs 17,303 17,303 16,294 10.310 2,895 186,128 10,310 2,895 186,128 10,037 2,828 179,367 Legal and professional costs 7 Net expenditure before transfers 2025 2024 This is stated after charging: Depreciation of owned fixed assets 8 Staff costs 17,303 16,294 2025 2024 Salaries and wages 88.076 88,076 84,465 84,465 No employee received emoluments in excess of £60,000. 9 Tangible fixed assets Land and buildings Computer equipments Furniture & fixture Total Cost or revaluation At l April 2024 Additions At 31 March 2025 Depreciation and impairment At l April 2024 Depreciation charge for the year At 31 March 2025 1.305,143 85,361 145,887 8,258 154,145 1,536,391 8,258 1,544,649 1,305,143 85,361 269.453 85.361 137.139 491.953 13,051 4,251 17,302 282.504 85.361 141,390 509.255 Net book values At 31 March 2025 1,022,639 1.035,690 12,755 8,748 1,035,394 1,044,438 At 31 March 2024 Page 12
Dallow Development Trust Limited Notes to the Accounts 10 Debtors 2025 2024 Prepayments and accrued income 993 895 993 895 11 Creditors: amounts falling due within one year 2025 2024 Bank loans and overdrafts Trade creditors 4,073 7,897 14,231 26,201 4,073 15,485 5,863 25,421 Accruals 12 Creditors: amounts falling due after more than one year 2025 2024 Bank loans and overdrafts 1,164 1,164 5,237 5,237 13 Movement in funds Incoming resources (including other At l April gainsllosses 2024 At31 March 2025 Resources expended Restricted funds: Restricted income funds: 1,041,739 1,041,739 Total 1.041.739 1,041.739 Unrestricted funds: Designated funds: 88.477 185.867 {186,1281 {186,1281 88,216 Total 88,477 185,867 88,216 Total funds 1,130,216 185,867 {186,1281 1,129,955 Page 13
Dallow Development Trust Limited Notes to the Accounts 14 Analysis of net assets between funds Unrestricted funds Total Fixed assets 1,035,394 95,725 1,035,394 95,725 Net current assets Creditors due in more than one year and provisions 11,1641 {1,1641 1,129,955 1,129,955 15 Reconciliation of net debt At31 March 2025 At l April 2024 Cash flows Cash and cash equivalents 115,541 115,541 5,392 5,392 120,933 120,933 Bank loans {9,3101 {9.3101 4,073 4,073 15,237) {5,2371 Net debt 106.231 9,465 115.696 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 2025 Unrestricte d funds Total funds Total funds 2025 2025 2025 2024 Income and endowments from: Investments Bank interest receivable 1,002 1,002 1,002 1,002 1,002 1,002 Other Rental income 184,865 184,865 184,865 184,865 177,330 177,330 Total income and endowments 185,867 185,867 178,332 Expenditure on: Other expenditure Bank loan and overdraft interest 186 186 287 payable 186 186 287 Employee costs Salaries/wages 88,076 88,076 88,076 88,076 84,465 84,465 Motor and travel costs Travel and subsistence 18 18 98 18 18 98 Premises costs Rates 2,305 28,964 11,970 2,148 2,305 28,964 11,970 2,148 1,162 31,852 9,913 2,148 Light, heat and power Premises cleaning Premises insurances Premises repairs and maintenance 21,953 21,953 20,283 67,340 67,340 65,358 General administrative costs, including depreciation and a mortisation Depreciation of Computer equipments Depreciation of Furniture & f ixture Equipment leasing and hire charges Software, IT support and related costs 17,303 17,303 16,294 2,787 2,787 4,383 2,456 2,456 2,577 Stationery and printing Sundry expenses 1,721 1,546 1,721 1,546 940 337 Page 15
Dallow Development Trust Limited Detailed Statement of Financial Activities Telephone, fax and broadband 1,800 27,613 1,800 27,613 1,800 26,331 Legal and professional costs Accountancy and bookkeeping Other legal and professional costs 2.495 2,495 2,448 400 400 380 2,895 2,895 2,828 Total of expenditure of other costs 186,128 186,128 179,367 Total expenditure 186,128 186,128 179,367 Net gains on investments Net expenditure (261) {261) (1,035) Net expenditure before other gains/llosses) Other Gains (261) {261) (1,035) Net movement in funds (261) {261) (1,035) Reconciliation of funds: Total funds brought forward 88,477 1,041,739 1,130,216 1,131,251 Total funds carried forward 88,216 1,041,739 1,129,955 1,130,216 Page 16