REGISTERED COMPANY NUMBER: 06500485 (England and Wales) REGISTERED CHARITY NUMBER: 1123262
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 August 2025
for
Cardiff Educational Endowment Trust (A Company Limited by Guarantee)
Document ID: a197a5982aeab958f7a8e19b68eeee6d0aca6d843500127ed0477701032c65ba
Cardiff Educational Endowment Trust
Contents of the Financial Statements for the Year Ended 31 August 2025
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 14 |
Document ID: a197a5982aeab958f7a8e19b68eeee6d0aca6d843500127ed0477701032c65ba
Cardiff Educational Endowment Trust
Reference and Administrative Details for the Year Ended 31 August 2025
| TRUSTEES | E J Moody |
|---|---|
| M Woodward | |
| A May | |
| P C Lenthall | |
| D N Knight | |
| P E Mathias | |
| M Wookey | |
| COMPANY SECRETARY | K A Bradley |
| REGISTERED OFFICE | Womble Bond Dickinson (UK) LLP |
| The Spark | |
| Draymans Way, Newcastle Helix, | |
| NEWCASTLE UPON TYNE | |
| NE4 5DE | |
| REGISTERED COMPANY | 06500485 (England and Wales) |
| NUMBER | |
| REGISTERED CHARITY | 1123262 |
| NUMBER | |
| INDEPENDENT EXAMINER | Clive Owen LLP |
| Chartered Accountants | |
| 140 Coniscliffe Road | |
| DARLINGTON | |
| Co Durham | |
| DL3 7RT | |
| SOLICITORS | Womble Bond Dickinson (UK) LLP |
| The Spark | |
| Draymans Way | |
| Newcastle Helix | |
| NEWCASTLE UPON TYNE | |
| NE4 5DE | |
| BANKERS | Barclays Bank |
| 137 Brompton Road | |
| Knightsbridge | |
| London | |
| SW3 1QF |
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Document ID: a197a5982aeab958f7a8e19b68eeee6d0aca6d843500127ed0477701032c65ba
Cardiff Educational Endowment Trust (Registered number: 06500485)
Report of the Trustees for the Year Ended 31 August 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2025. The trustees have adopted the provisions of 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 2019).
OBJECTIVES AND ACTIVITIES
Policies and objectives
The charity's objectives are:
-
To advance the education of young persons who are principally inhabitants of the City of Cardiff and the
-
- surrounding neighbourhood.
-
To support such other charitable purposes as are connected with the charity as the trustees from time to time
-
- think fit.
In setting the objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Main activities undertaken to further the company's purposes for public benefit
The charity has operated as a grant-making educational charity since 25 May 2017.
ACHIEVEMENTS AND PERFORMANCE
Main achievements of the company
An independent Chair and Board of Trustees were appointed at the end of the previous financial year. The Board made 17 approved grant awards in the year.
Investigations into the charity's affairs were still under review. The Charity Commission is satisfied with all new governance processes and systems now in place and has endorsed the grant-making of the charity.
FINANCIAL REVIEW
Financial position
The state of the charity's affairs at 31 August 2025 and the results of its activities for the year ended on that date are set out in the attached financial statements.
The total incoming resources for the year were £169,505 (2024: £199,768) and total expenditure was £268,997 (2024: £89,239).
At 31 August 2025 the total funds of the charity were £4,857,602 (2024: £4,855,920). All of the charity's funds are unrestricted.
Material investments policy
The investments were managed by Cazenove during the year. The investment managers for the charity are required to manage the charity's funds within the parameters of, and in accordance with, the investment policy statement adopted by the charity.
Notwithstanding the appointment of Cazenove to manage the charity's funds, during the year Board of Trustees had overall responsibility for the investment of the charity's funds. The charity's investment portfolio was kept under review by the Investment Committee as a sub-committee of the Board of Trustees, two of whom are professional investment managers to help ensure that the charity is not exposed to greater risks than it is prepared to accept.
There was a net gain on investments of £101,174 (2024: gain £356,879) during the year. The investments held had a market value at 31 August 2025 of £4,792,894 (2024: £4,630,883).
Reserves policy
As at 31 August 2025 the free reserves amounted to £4,857,602 (2024: £4,855,920).
It remains the long term policy to maintain an appropriate amount of funds to generate income in order to make grants in furtherance of the charity's objects.
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Document ID: a197a5982aeab958f7a8e19b68eeee6d0aca6d843500127ed0477701032c65ba
Cardiff Educational Endowment Trust (Registered number: 06500485)
Report of the Trustees for the Year Ended 31 August 2025
FINANCIAL REVIEW
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
Principal risks and uncertainties
There are concerns over the former governance of the charity and breaches of trust.
Criminal proceedings have now been brought in relation to the founders of Cardiff Sixth Form College and the College's then accountant and the case is expected to be heard in the following 12-18 months. The Interim Manager's appointment continues to oversee and participate in that process.
Financial risk management
The Board of Trustees is responsible for overseeing the factors that are deemed to be risks faced by the trust. The risks identified are addressed predominantly by the trust's systems and processes which have been significantly strengthened following the appointment of the Interim Manager and a new Board of Trustees.
The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate exposure to major risks.
The Trustees have adopted various governance and compliance policies to protect the charity from risk/breach during the year and have reviewed and updated the governing document.
PLANS FOR THE FUTURE
The Interim Manager remains a Trustee but a Board of independent Trustees now have responsibility for the Charity's governance, management and administration.
The Trustees plan to identify projects for funding through an open application process, twice a year.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Constitution
Cardiff Educational Endowment Trust is registered as a charitable company limited by guarantee and was incorporated at Companies House on 11 February 2008. The charity is governed by its Memorandum of Association. The Articles of Association currently governing the charity were passed 3 March 2017, and were amended by special resolution on 14 August 2024.
Methods of appointment or election of Trustees
The management of the company is the responsibility of the Board of Trustees.
Emma Moody of Womble Bond Dickinson (UK) LLP was appointed by the Charity Commission as Interim Manager and continues to oversee and participate in the criminal proceedings brought in relation to the founders of Cardiff Sixth Form College and the College's then accountant.
Members of the grant-making committee were appointed as Trustees at the end of the previous financial period.
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Document ID: a197a5982aeab958f7a8e19b68eeee6d0aca6d843500127ed0477701032c65ba
Cardiff Educational Endowment Trust (Registered number: 06500485)
Report of the Trustees for the Year Ended 31 August 2025
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
27-05-2026 UTC
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
~~....................................~~ Signer ID: R5X5EOFWS3... .................................... P E Mathias – Trustee
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Document ID: a197a5982aeab958f7a8e19b68eeee6d0aca6d843500127ed0477701032c65ba
Independent Examiner's Report to the Trustees of Cardiff Educational Endowment Trust
Independent examiner's report to the trustees of Cardiff Educational Endowment Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2025.
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 accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 accounts 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 confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts 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 accounts to be reached.
Signer ID: IU2IYLBGPX...
C P Beaumont BA(Hons) BFP FCA DChA
Clive Owen LLP Chartered Accountants 140 Coniscliffe Road DARLINGTON Co Durham DL3 7RT 27-05-2026 UTC Date: .............................................
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Document ID: a197a5982aeab958f7a8e19b68eeee6d0aca6d843500127ed0477701032c65ba
Cardiff Educational Endowment Trust
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 August 2025
| Notes INCOME AND ENDOWMENTS FROM Investment income 3 EXPENDITURE ON Raising funds Investment management costs 4 Charitable activities 5 Grant making educational Total Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2025 Unrestricted fund £ 169,505 11,260 11,260 257,737 268,997 101,174 1,682 4,855,920 4,857,602 |
2024 Total funds £ 199,768 |
|---|---|---|
| 10,926 | ||
| 10,926 78,313 |
||
| 89,239 | ||
| 356,879 | ||
| 467,408 4,388,512 |
||
| 4,855,920 |
The notes form part of these financial statements
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Document ID: a197a5982aeab958f7a8e19b68eeee6d0aca6d843500127ed0477701032c65ba
Cardiff Educational Endowment Trust (Registered number: 06500485)
Balance Sheet
31 August 2025
| Notes FIXED ASSETS Investments 12 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 13 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 14 Unrestricted funds TOTAL FUNDS |
2025 Unrestricted fund £ 4,792,894 71,944 (7,236) 64,708 4,857,602 4,857,602 4,857,602 4,857,602 |
2024 Total funds £ 4,630,883 232,383 (7,346) 225,037 4,855,920 4,855,920 4,855,920 4,855,920 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 27-05-2026 UTC
Signer ID: R5X5EOFWS3... ~~..................................~~ ........... P E Mathias – Trustee
The notes form part of these financial statements
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Document ID: a197a5982aeab958f7a8e19b68eeee6d0aca6d843500127ed0477701032c65ba
Cardiff Educational Endowment Trust
Notes to the Financial Statements for the Year Ended 31 August 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
The significant accounting policies applied in the preparation of these financial statements are set out below. The policies have been consistently applied to all years presented unless otherwise stated.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Support costs are those costs incurred directly in support of the expenditure on the objects of the charity. Governance costs are those incurred in connection with the administration of the company and its compliance with constitutional and statutory requirements.
Charitable activities and governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.
Expenditure on raising funds includes all expenditure incurred by the company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
continued...
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Document ID: a197a5982aeab958f7a8e19b68eeee6d0aca6d843500127ed0477701032c65ba
Cardiff Educational Endowment Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
1. ACCOUNTING POLICIES - continued
Fund accounting
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Financial instruments
The company only has financial assets and liabilities of a kind that qualify as basic financial instruments, Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a s short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as adamance payments for the goods or services it must provide.
Provision are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value or those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction costs and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at costs less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Net gains/(losses) on investments' in the Statement of Financial Activities.
2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next years financial year are discussed below.
Critical areas of judgement:
The recoverability of the amounts due from former trustees is deemed to be a significant judgement in view of the nature of the debt and the ongoing investigations.
continued...
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Document ID: a197a5982aeab958f7a8e19b68eeee6d0aca6d843500127ed0477701032c65ba
Cardiff Educational Endowment Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
| 3. INVESTMENT INCOME Distribution income Deposit account interest 4. INVESTMENT MANAGEMENT COSTS Portfolio management 5. CHARITABLE ACTIVITIES COSTS Grant making educational 6. GRANTS PAYABLE Grant making educational The total grants paid to institutions during the year was as follows: Parentkind Horn Development Association Grange Pavilion Welsh Refugee Council Two Rhythms Boss & Brew Academy CIC South Riverside Community Development Centre Ltd CWMNI URDD GOBAITH CYMRU Adoption UK UCAN Productions The Aloud Charity The Honeypot Children's Charity Grants < £10,000 Cardiff Council Youth Cymru |
Grant funding of activities (see note 6) £ 232,296 |
2025 £ 167,602 1,903 169,505 2025 £ 11,260 Support costs (see note 7) £ 25,441 2025 £ 232,296 |
2024 £ 191,883 7,885 199,768 2024 £ 10,926 Totals £ 257,737 2024 £ 55,787 2024 £ - - - - - - - - - - - - - 35,787 20,000 55,787 |
||
|---|---|---|---|---|---|
continued...
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Document ID: a197a5982aeab958f7a8e19b68eeee6d0aca6d843500127ed0477701032c65ba
Cardiff Educational Endowment Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
7. SUPPORT COSTS
| SUPPORT COSTS | |
|---|---|
| Governance | |
| costs | |
| £ | |
| Grant making educational | 25,441 |
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2025 nor for the year ended 31 August 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2025 nor for the year ended 31 August 2024.
Expenses paid for on behalf of the charity of £260 were reimbursed to trustee Phillip Lenthall during the year.
9. STAFF COSTS
The average number of persons employed by the company during the year was nil (2024: nil).
No employee received remuneration amounting to more than £60,000 in either year.
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Investment income EXPENDITURE ON Raising funds Investment management costs Charitable activities Grant making educational Total Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 199,768 10,926 10,926 78,313 89,239 356,879 467,408 4,388,512 4,855,920 |
|---|---|
continued...
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Document ID: a197a5982aeab958f7a8e19b68eeee6d0aca6d843500127ed0477701032c65ba
Cardiff Educational Endowment Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
11. INDEPENDENT EXAMINER'S REMUNERATION
The independent examiner's remuneration amounts to an independent examiner fee of £4,790 (2024: £3,800).
12. FIXED ASSET INVESTMENTS
| MARKET VALUE At 1 September 2024 Net additions and disposals Revaluations At 31 August 2025 NET BOOK VALUE At 31 August 2025 At 31 August 2024 |
Listed investments £ 4,630,883 60,837 101,174 4,792,894 4,792,894 4,630,883 |
|---|---|
Cazenove Capital manage a balanced portfolio which includes assets in overseas markets.
The fixed asset investments are held at market value, the cost of the investments held at the year end was £4,395,570.
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Accruals and deferred income |
2025 £ 2,056 5,180 7,236 |
2024 £ 2,660 4,686 |
|---|---|---|
| 7,346 |
14. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS |
At 1.9.24 £ 4,855,920 4,855,920 |
Net movement in funds £ 1,682 1,682 |
At 31.8.25 £ 4,857,602 |
|---|---|---|---|
| 4,857,602 |
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 169,505 169,505 |
Resources expended £ (268,997) (268,997) |
Gains and Movement losses in funds £ £ 101,174 1,682 101,174 1,682 |
Gains and Movement losses in funds £ £ 101,174 1,682 101,174 1,682 |
|---|---|---|---|---|
| 1,682 |
continued...
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Document ID: a197a5982aeab958f7a8e19b68eeee6d0aca6d843500127ed0477701032c65ba
Cardiff Educational Endowment Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
14. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.9.23 £ 4,388,512 4,388,512 |
Net movement in funds £ 467,408 467,408 |
At 31.8.24 £ 4,855,920 |
|---|---|---|---|
| 4,855,920 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 199,768 199,768 |
Resources expended £ (89,239) (89,239) |
Gains and Movement losses in funds £ £ 356,879 467,408 356,879 467,408 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.9.23 £ 4,388,512 4,388,512 |
Net movement in funds £ 469,090 469,090 |
At 31.8.25 £ 4,857,602 |
|---|---|---|---|
| 4,857,602 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 369,273 369,273 |
Resources expended £ (358,236) (358,236) |
Gains and Movement losses in funds £ £ 458,053 469,090 458,053 469,090 |
|---|---|---|---|
continued...
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Document ID: a197a5982aeab958f7a8e19b68eeee6d0aca6d843500127ed0477701032c65ba
Cardiff Educational Endowment Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
15. CONTINGENT ASSETS
As at 31 August 2025 the charity has a contingent asset in respect of an ongoing legal claim. The value of the claim has not been disclosed on the basis that stating an amount may prejudice the outcome of the legal dispute. The charity believes that the settlement of the claim could result in a significant future financial benefit.
16. RELATED PARTY DISCLOSURES
During the year the charity incurred costs of £6,475 (2024: £10,538) from Womble Bond Dickinson (UK) LLP in respect of the Interim Manager's work and professional fees. These fees have been scrutinised and approved by the Charity Commission. The Interim Manager is a partner at Womble Bond Dickinson (UK) LLP.
The company secretary provided the charity with services throughout the year, totalling in value £11,916 (2024: £7,148).
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Document ID: a197a5982aeab958f7a8e19b68eeee6d0aca6d843500127ed0477701032c65ba