Desboro￿l Communlry Development Trust Charity Nth 1142865 Company No. 07411826 31 December 2024 Desborouih Community Development Trurt Contents Pages Trustees. Annual Report Statement of Financial Activities 2to5 6t06 Summary Income and Expenditure Account Balance Sheet 7t07 8t08 Statement of Cash flows 9t09 Notes to thè Accounts IOto12 Detailed Statement of Financial Activities 13to18 Page I Desborou8h Community De¥elopment Trnst Trustees Annual Report The trustees, who are also directors of the charity for the purposes of the Companies Act 2C(16, present their ￿Part with the unaudtted fonancial statements of the charity forthe year ended 31 December 2024. REFERENCE AND ADMINISTRATIVE DETAILS Company No. 07411826 Charity No. 1142865 Principal OfA£e 50-52 station Road Desborough Northamptonshire NN14 2RS Re8iStered Office s￿52 Station Road Desboruugh Northamptonshire NN14 2RS Directors and Trustee5 The Directors of the charitable company are its Trustees for the purposes of charity law. The following Direclors and Trustees served duri￿ the year. l.G. AnLlerson J.J. Hodder S. Hoddèr 8.A. Humfrey l.E. Jones QY.M. Rowsell H.M. Worner IResgned 5 May 20241 Company Secretary S. Hodder Key Mana8ement Pef50nnel Belinda Humfrey Carole Row5ell Shela8h Ho(Ider- Secretary john Hodder Heten Worner Accountants A6 Accountlng Limited 16 Ironwood Avenue Desborough Page 2 Desb¢rou8h Communtty Developrnent Trust Trustees Annual Report NN142JJ Bènkers The CLFoperative Bank PO Box 250 Delf House Southway Skelmersdale WN8 6Wt OBJEcfivES AND ACTivmES The Trusys objectlves as set out in Ihe objects contained in the comparfs memorandum and artitle5 01 a550ciatior) are to= Promote public benefit through regeneration of Desborough by creating training and employment opportunities by the provision of workspace for use on favourable tern￿, providing training and retrainSng (particularly for the unemployed) through courses and work experience. and by the provision of advice and assistance Ifinancial. technical. or business). Maintain and provide public amentlies. where possible through the preseThation of locally important hi5tori¢ buildings. SUPPOrt kjcal groups in whatever way p055ible to benefrt the town To improve and support the town to be a VTtal and forward-looking plate Whe￿ people, residents. and visitors alike, want to Ik. The tnjst will work to encourage a robust local economy in an inclusive community. To achieve these objective5, the 51rate8ic aims and related aclivity areas of the Trust are to: Consult and communicate with ￿SidentS and stakeholders Enable the provision of communty 5eryites and facilities Ensure sustainable town centre regeneration Develop social, economic, and environmental initiatives ACHIEVEMEPffS AND PERFORMANCE The Trust continues to attratt new Volunteers. and has a good record of retaining volunteers. all of whom (lo a magnificent job of manning the shop, processing donations. cleanin& and helping customers In any way they can. Following a protrarted process, the Trust has completed the purchase of our shop and the flat above. Work was immediately started to refurbish the building and to some lon8Standin8 maintenance issues. The front of the shop has been repaintèd and new electrically operated awnings have been installed to protect shoppers and stock on the pavement in front of the shop from the elements. We have continued to upgradÈ the lighting to modèrn LEDS to improve visibility and to reduce running costs while reducing our C02 footprint. We have continued to make further improvements to the shelwng in the shop to make optimum use of the limited space. We have started to clear the old furniture and belongings ihat had been In the flat by the previous tenant. We continue to offèr opportunities to young people to gain work experience in the shop, and to provide a safe and welcoming work environment to all our volunteers. Their contributions, and those of our donors, are rewarded by the knowledge that their elforts are 5UPPOrting many more people in our communty. Page 3 Desborou8h Community Development Trust Tru5tee5 Annual Report FINANCIAL REVIEW Income from the shop has stabilised following the COVID-19 pandemic and sales have continued to improve desPlte10sing some income due to the lower value of dothing sold to reryclers. The work of the organisation continued with grants being offered and assistance given to those in 5￿cial need of our help. The Trust has awarded grant5 lotalling £2S.063 to 18 community groups and 4 individual in need of our a5SlStante in Desb)rough during 2024. PLANS FOR FimJRE PERIODS Work has started on refitting and ￿fur￿lShin8 the kitchen and ioilet area in the shop. This will resolve a problem with damp in that area. and allow the instsllation of a washing machine to launder clothes donations when necessary. Currentty. a few of the volunteers take clothe5 home to launder them at their own eKpense. We plan to refurbish the fiat and let it out to provide an additional income stream in the near f￿ure. The 19405 Day in September, and the Gala Night in November, both help to promote the shop and eath year we see a surge in business. We are looking at how we mwdht have similar themed days earlier in the year. STRucfuRE, GOVERNANCE AND MANAGEMENT The trust is a company limited by guarantee. re8i5tered in England, No- 07411826 and a registered Charity No: 1142865 and is constituted under Memorandum and Artitles of Association. dated 22nd September 2010. In 2016 the accountin8 reference date was chaneed to 31st December wsth both Companies House and the Charity Commission. New trustees are appointed from the membership of the Desborough Community Development Trust (the Trust) by the existing trustees after being nominated by a tmstee and an interview process, with reference to the 8overnance document. As members new trustees are familiar with the aims of the Trust and therefore the induction is an informal process where they are encouraged to SFend time with the Chair and other trustees to understand the fomial workings of the Trust. They sign up to the code of conduct which details how a trustee should behave when representing the trust and have access to all the board meeting minutes and other trust documentation, induding financial statements to gain further insight. Any questions which arise are answered as and when required by the Chair and other trustees. Feed back from new trustees is incorporated into the induction pro￿$$. The Board of Trustees lof which there are up to 91 meet monthly and a￿ responsible for the strategic dirertion and policy of the charity. At present the board COns￿ts of seven members from a wide vaiiety of professional backgrounds relevant to the work of the Trust. The Trustees are responsible for keepin8 proper accounting records that disclose with reasonable accuracy at any time the financial position of the tharity and to enable them to ensure that the financial statements comply with the Companies Act 2￿6. The Trustees are abo responsible for safeguarding the ￿Sets of the harity and hence taking ￿aSOnable Steps for the prevention and detection of fraud and other irregularities. The above report has been prepared sn accordance wr(h the provisw)n5 applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2(M)6 and in attordance with the Charities SORP {FRS 1021. Signed on behalf of the kM)ard Page 4 De5borou8h Communrty DevelOpMentTn￿t Trustees Annual Report l.G. Anderson Trustee 30 September 2025 Page 5 Dosborough Community Devek>wnenl Trust Siatemem of Financial Artl¥ities lor the year ended 31 December 2024 Unrestrlcled funds Total funds Total lunds 2024 2024 2L123 Note5 In￿me and endowments from: Donations and legacies Charwtable activities Investments 163 65,732 2,207 163 65,732 2.207 1,739 65,716 1,493 Totsl 68.102 68.102 68,948 Expenditure on: Raising funds Charitable attivities other 566 25.063 23.553 566 203 25,063 23.553 23,520 22,443 Total 49,182 49,182 46,166 Net 8ains on investments 18.920 18.920 22,782 Trarisfers between funds Net Income before other galnslllo$5esl 18.920 18,920 22,782 Other 8alns and losses Net m0ven￿nt in funds 18.920 18,920 22,782 Reconclllatlo• of funds: Total funds brouBM forward 154.489 154.489 131,707 Total funds ¢arried foTh4ard 173,409 173,409 154,489 Pa8e 6 Desborou8h Communlty DevelopmentTn•st Summary Income and Expendrture Ac¢ount lor the year ended 31 December 2024 2024 21)23 In¢ome 65.895 67,455 Inte￿$t and investment Income 2,207 1,493 Gross ineome for the year Expenditure 68.102 68,948 46,166 46.742 Interest payable 2,440 Total expenditure for the year Net Éncome before tax for the year 49,182 46,166 18.920 22,782 Nrt income for the year 18.920 22,782 Page 7 Desborough Communlty Developmert Trust Balante Sheet ¥t 31 December 2024 Comp•ny No. 07411826 2024 2023 Flxed assets Tangible assets li 235,714 235,714 Current assets Debtors Cash at bank and in hand 12 168s) 59,9tK) 59.215 115,9151 43,31XJ 156,234 159,738 15,2491 154.489 Creditors- Amount falling due within one year Net turrent assets 13 Total assets le55 current liabilltles 279,014 154,489 Creditors- Amounts falling due after more than one year Nèt assets excluding penslon a55et or f￿b￿lty 14 1105,fA)51 173,409 154,489 173,409 154,489 The funds of the charlty Restrirted funds Unrestrirted fvnds General funds 15 173.409 154,489 173,409 154,489 Resep Total funds 173.409 154,489 These accounts have been prepared In accordance with the special provisions of Part IS of the Companies Att 2006 relating to SM￿ companies. For the year ended 31 December 2024 the Ixjmpany was entitled to eXeMPt￿n under section 477 of the Companies Act 2c￿6 relating to smèll companies. The members have not required the company to obtain an audit in accordano with 5eclion 476 of the Companies Act 2CK)6. The directors acknowledge their responsibilities for comp￿Ing with the reQUi￿rnents of the Companies Art 2W6 with respect to accounting records and the preparation of accounts. Approved by the board on 30 September 2025 And sEned on its behalf by". l.G. Anderson Trustee 30 September 2025 Page 8 Desborough Ctynmunity Development Trust Statement of Cash flLW4S for the year ended 31 Decernber 2024 2024 2023 Net income per Statement of Flnancial Activit￿5 18.920 22,782 Adjustments for: Dividends, interest and rents from investments Decreasèlllnueasel in trade and other receNables (Decreaselllncrease in trade and other payables 12,2071 4,189 12,7031 11.493 13.5041 5.249 Net cash provided by operatln8 actl¥ities 18,199 23,634 Cash flows Irom investin8 acdvltles Payments for property. plant ar￿ equipment DivKtends, i¥rtere5t and ￿nts from iEWèStments 1235.7141 2207 1,493 Net (used in)Ifrom Inve5tin8 •rti¥ities 1233,5071 1,493 Cash flows from financing artlvitles Repayment of borrowings 118,974 Net cash flnancing acti¥ilies 118,974 Net Idecreaselllncrease In and Cash equi¥alerts 196,3341 25.127 Co$h and eash equlyalents atthe beginni￿ of the year 156.234 Cash and cash equivalents at the end of the year S9,￿0 25,127 Components of cash and fash equivalents Cash and bank balances 59,900 156.234 59,9 156,234 Pa8e 9 De5borough Community Deb•bpmentTTUSt Notes to the Accounts for the year ended 31 Derember 2024 l Accounting policies Basis ol preparalion The financlal statements have been prepared in actordance with Accounting and Reporting by Charities: statement of R￿0MMended Prartice applicable to charities preparing their accounts in accordance with the Financial Ileporting Standard applicable in the UK and Republic of Ireland IFP5 1021 leffective I January 20151 (Charities SORP IFRS 10211, the Financial Reportlng Standard applicèble in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2•X￿. change in bosh of accounting orto F¥re¥ious accounts There h85 been no change to the accounting Folicies (valuation rule5 and method of accounting) since tast year and no charges have been made to accounts for previous years. Fund a¢coutitin Unrestricted lunds These are available for use at the discrelion of the tmstees in furtherance of the general objects of the charity. These are unrestricted funds eamiarked by the trustees for particular purp)ses. These are unrestrirted funds which indude a revaluation reserve representing the restaternefjt of investment assets at their market values. These are available for use subject to restrictions imposed by the donor or through ternis of an appeal. Designated funds Revaluation funds Restrrrted funds Income Recognition of income Income is induded in the Statement of Financ￿1 Artrvities ISOFAI when the charity becomes entitled to. and virtualty certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expendkture the income and ￿￿ted expenditure is expenditure reported gross in the SofA. Donation5 and legacies Voluntary income received by way of grants. donations and gifts 15 included in the the SOFA when reCe￿ab￿ and onty when ihe Charity has unconditional entitkmert to the income. Tax reclaim5 on Income from tax ￿claImS is included in the SOFA at the same time as the donations and gÈfts gtftldonatlon to which it relates. Donated sèrvice5 These are onty included in income (with an equivalent amount in expenditure) Whe￿ the benefrt lo the Charity is feasonabty quantir￿b1e, 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 r￿l¥able. Gainslllossesl on This includes any gain or loss resultlng from revaluing investments to market value revaluation of ftxed at the end of the year. assets and facilitie5 Gains/llosses1 on investment assets This includes any gain or loss on the sale of investments. Page 10 De5borough Community Development Trust Notes to the Accounts Expenditure Recognition of expenditure Expenditure is recognised on an accrua15 basts. Expenditure includes any VAT which cannot be ful￿ recovered. and is rep)rted as part of the expenditure to which it relates. Expenditure on These comprise the costs assocwted wrth attrncting voluntary income, fUndra￿Ing r?￿In8 funds trading cosls and investment management costs. Expenditure on These comprise the tosts incurred by the Charity in the delivery of its artivities and charitable activities services in the lurtherance of its objects. including the making of grants and governance cost5. 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 meetin8 the constitutional and statutory requirements of the Charity. including any auditlindependent examination fees, costs linked to the strategic management of ihe Charity. together with 3 Share of other administration costs. These are support costs not allocated to a particular attivity. Grants payable Governance costs Other expenditure Taxation The charity is exempt from corporation tax on its Charitab￿ adNities. Freehold investment property Investment properties are measured initially at cost and subsequently at fairvalue at each balance sheet date and a￿ not depreciated. All gains or losses are taken to the Statement of Financial AdNilies a5 they arise. Stocks stock is included at the lower of tosi or net ￿311$able value. Donated items of stock are Teco8nised at fair value which is the amount the charity would have been willing to for the items on the open market. Trade and othÈr debtors Trade and other debtors are retoBnised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade di4count5 due. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with bank5 and othèr short-term highly liquid investments with originèl maturities of three month5 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 a￿ sh¢)wn net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. Trade and other credltors Short term Credrt0￿ are measured at the transaction price. Other creditors and provisions a￿ 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 prOv￿lOn$ are normally recognised at their settlement amount after allowing for any trade discounts due. Page 11 Desborou8h Communlty Development Tn Notes to the Actourrts Research and development Expendilure on research and development is wrTtten off in the year in which it is incurred. Foreign eurrencles Monetary assets and Ilabilities denominated in currencies other than the functional turrenty of the charity are translated ai the rates of exchange prevailing at the end of the reporting period. Transactions in CUf￿nCle$ other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange drfferences are ère taken into account in arriving al net income/expenditure. leased ass￿$ Whefe the charity enters into a lease which ents£ts tsking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which tlo not traFTr5fer 5ub5tsntiaMy all the risks and reavards of ownership to charity are cla55rfied as op*rating ￿8$e5. Assets held under finance leases are initially recognÉ5ed as assets of the chartiy at their fair value at the InCept￿n of the tease or. if lower. at the present Yalue of the mtninum lease payments. The correspondin8 liability to the lessor i5 included in the balance sheet date as a finance lease obligation. Lease payments are ap￿rtIoned between finance expenses and reduction of the lease obligation $0 as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses a recognised immediate￿, urt1￿$ they are t11reci￿ attributable to qual-tfying assets, in which case they are c3pitali5ed in accordance with the charTty's policy on borrowing costs. A55ets held under finance leases are deprecrdted in the same way a5 owned assets. Operatin6 lease payments are recognised as an ex￿nse on a stra￿ht-IIne basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are reco8nlsed as a Ilability. The aggregate benefft of incentNes 15 recogrii5ed as a reduction of rental expense on a straight-line basis. Pension w5ts The charity operates a defined contribution plan for its employees. A defined contribution plan 15 a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contribution5 are Tecognised as expenses when they fall due. Amounts not paid are shown ift èccwals in the balance sheet. The assèts of the plan are held separatety from the company in independently administered fund5. All donated goods, faalities and services received are recoEnised 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 conseque￿￿ does not have share capital. Page 12 Desborou8h Communlty De¥elownent Tftst Notes to the Accounts 3 Ststement of Financial Arti¥ikne5- pTio¥ year UnrÈstrkted fu￿ Totsl funds 2023 2023 Income and endowments from: Donations and legacies Charitable activities Investment5 1,739 65,716 1.493 1,739 65,716 1.493 Tgtsl 68,948 68.948 Expettdlture on: Raising funds Charitable activities 203 23,520 22,443 46.166 203 23,520 22,443 Other Totsl 46,166 Net incorne 22,782 22.782 Net income before other galnsll1055esl Other gains and105ses: Net movement In lunds 22,782 22,782 22,782 22.782 Reconciliation of fund$: Total funds brought forward Totsl fvnd5 caryled fofward 131,707 131,707 154,489 154,489 4 Income from donations and legacies Unrestrided Total Total 2024 2023 163 163 1,739 1,739 163 163 5 Income from tharitable arti¥itses Total 2024 Totsl 2023 64,889 64,889 65,344 372 65.732 65.732 65,716 Page 13 Desborough Commuftity Develpprnent Trust Notes to the A¢tounts 6 Income fr¢m investments Unrestrlrted Total Total 2024 2023 2.207 2,207 2.207 2,207 1,493 1,493 7 EXpen￿lture 011 raising funds Unrestrirted Total Total 2024 2023 Fundroising trading costs 566 566 203 566 566 203 8 Expendi￿re on d￿li￿ble arts¥ldes Unre5trirted Totsl 2024 Total 2023 Expenditure on churitol)le oct¥vitie5 23,520 Grants made 25.C63 25,063 Governonce costs 25.063 25.063 23.520 9 Other txpendllure Unrestrleted Total Z024 Total 2023 1.259 1,259 1,290 Bank loan and overdraft interest payable 2.440 Premses costs 13.493 5.941 420 13,493 17,031 3,762 360 General administralive costs 5.941 420 Legal and professional costs 23.553 23.553 22,443 io Staff costs No employee rece￿ed emoluments in excess of £60.CKKJ. Page 14 Desborough Community Development Trust Notes to the A£count5 11 Tan8¢ble fixed assets Cost or revaluatlon Additions At 31 December 2024 235,714 235.714 235.714 235,714 Net book Yalues At 31 December 2024 12 Debtors 235,714 235,714 2024 2023 Trade debtor5 Prepayments and accrued income 1,040 2,464 16851 16851 13 Creditors: amounts falling due wlthln one year 2024 2023 Bank loans and overdrafts Trade credttors Accruals 13,369 4,734 12.1881 15.915 4,488 761 5.249 14 Credltors: amounts fallin8 due after more than one year 2024 2023 Bank loans and overdrafts 105.605 105,605 15 Movement in fvnds Incomin8 At31 Deomber 2024 (indudiTh8 Resouices expendod At l January 8aiThsllosses 2024 Restricted funds: Unrestrkted funds: General fvnds 154,489 68,102 149.182 173,409 Total fvnds 154.489 68.102 149,1821 173,409 Pa@e 15 Desborough Community De¥*lopmeThtTru5t Notes to the A¢¢ounts 16 Analysis of net assds between fvnds Unrestricted funds Totsl Fixetl assets 235,714 43,300 235,714 43,300 Net current assets Creditor5 due in more than one year and provisions 1105,6051 1105,6051 173.409 173,409 17 Reconciliation of net debt At31 December 2024 At l January 2024 Cash flows Cash and cash equivalents 156.234 156.234 196.3341 196,3341 59,9 59,9CK) Bank loan5 1118,9741 1118,974) 1118,9741 1118,9741 Nel debt 156,234 1215,3081 159,0741 18 Related party disc105ures Controltinqporty The company is Ilmited by guarantee and has no share capital- thus no single party controls the company. Page 16 Desborough Comfflunity DevelopmentTrust Detailed Statement of Financial Adiwties for the year ended 31 December 2024 funds Total fund5 Total lunds 2024 2023 2024 lftcome and endo¥Yrnents from: Donations and legacles 163 163 163 1,739 1,739 163 Charitable activities 64,889 843 64,889 6S,344 372 65,716 65.732 65.732 Investments 2,207 2,207 2.207 2,207 1,493 1,493 Total Incorne and endowments 68,102 68,102 68.948 Expenditure on.. Costs of other trading activities 566 566 566 203 203 Total of expenditure on raising fvnds 566 566 203 Charitable activities 23.520 Grants made 25,063 25.063 25,063 25,063 23.520 Totsl of expendlture on Charitable 25.063 25,063 23.520 Other expenditure 1.259 1,259 1,290 Bank loan and overdraft interest payable 3,699 3.699 1.2 Premises costs Rent Rates Light, heat and power PremFses cleaning Premises insurances Premises repairs and maintenance 5.482 5,482 10.843 238 2.954 1.150 2.567 2.954 1,150 2.567 2.232 1,209 1,089 130 Other premises costs 1,340 13.493 1,290 17.031 13,493 Page 17 Desborough Community Devel¢pment Trust Detailed Statement of Financial Acti¥wb General administrative costs. including depreciation and amortisatbon Bank charges Equipment expensed Software. IT support and related costs stationery ènd printing Sundry expenses Telephone. fax an(1 broadband 1,223 2.418 1,223 2,418 2,183 226 226 182 17 17 672 1.554 503 5,941 1,554 503 725 5,941 3,762 Legal and professronal costs Auditllndependent examination 420 420 3f 420 420 360 Total of expendlture of other costs Total eXpen￿rture Net gains on investments 23.553 23.553 22,443 49,182 49,182 46,166 18,920 18,920 22,782 Net in(ome r+let Income before other 8ainsl{lossesl Other Gains 18.920 18,920 22,782 Net movement In fvnds 18,920 18,920 22,782 Reconwnenl Trust Siatemem of Financial Artl¥ities lor the year ended 31 December 2024 Unrestrlcled funds Total funds Total lunds 2024 2024 2L123 Note5 In￿me and endowments from: Donations and legacies Charwtable activities Investments 163 65,732 2,207 163 65,732 2.207 1,739 65,716 1,493 Totsl 68.102 68.102 68,948 Expenditure on: Raising funds Charitable attivities other 566 25.063 23.553 566 203 25,063 23.553 23,520 22,443 Total 49,182 49,182 46,166 Net 8ains on investments 18.920 18.920 22,782 Trarisfers between funds Net Income before other galnslllo$5esl 18.920 18,920 22,782 Other 8alns and losses Net m0ven￿nt in funds 18.920 18,920 22,782 Reconclllatlo• of funds: Total funds brouBM forward 154.489 154.489 131,707 Total funds ¢arried foTh4ard 173,409 173,409 154,489 Pa8e 6 Desborou8h Communlty DevelopmentTn•st Summary Income and Expendrture Ac¢ount lor the year ended 31 December 2024 2024 21)23 In¢ome 65.895 67,455 Inte￿$t and investment Income 2,207 1,493 Gross ineome for the year Expenditure 68.102 68,948 46,166 46.742 Interest payable 2,440 Total expenditure for the year Net Éncome before tax for the year 49,182 46,166 18.920 22,782 Nrt income for the year 18.920 22,782 Page 7 Desborough Communlty Developmert Trust Balante Sheet ¥t 31 December 2024 Comp•ny No. 07411826 2024 2023 Flxed assets Tangible assets li 235,714 235,714 Current assets Debtors Cash at bank and in hand 12 168s) 59,9tK) 59.215 115,9151 43,31XJ 156,234 159,738 15,2491 154.489 Creditors- Amount falling due within one year Net turrent assets 13 Total assets le55 current liabilltles 279,014 154,489 Creditors- Amounts falling due after more than one year Nèt assets excluding penslon a55et or f￿b￿lty 14 1105,fA)51 173,409 154,489 173,409 154,489 The funds of the charlty Restrirted funds Unrestrirted fvnds General funds 15 173.409 154,489 173,409 154,489 Resep Total funds 173.409 154,489 These accounts have been prepared In accordance with the special provisions of Part IS of the Companies Att 2006 relating to SM￿ companies. For the year ended 31 December 2024 the Ixjmpany was entitled to eXeMPt￿n under section 477 of the Companies Act 2c￿6 relating to smèll companies. The members have not required the company to obtain an audit in accordano with 5eclion 476 of the Companies Act 2CK)6. The directors acknowledge their responsibilities for comp￿Ing with the reQUi￿rnents of the Companies Art 2W6 with respect to accounting records and the preparation of accounts. Approved by the board on 30 September 2025 And sEned on its behalf by". l.G. Anderson Trustee 30 September 2025 Page 8 Desborough Ctynmunity Development Trust Statement of Cash flLW4S for the year ended 31 Decernber 2024 2024 2023 Net income per Statement of Flnancial Activit￿5 18.920 22,782 Adjustments for: Dividends, interest and rents from investments Decreasèlllnueasel in trade and other receNables (Decreaselllncrease in trade and other payables 12,2071 4,189 12,7031 11.493 13.5041 5.249 Net cash provided by operatln8 actl¥ities 18,199 23,634 Cash flows Irom investin8 acdvltles Payments for property. plant ar￿ equipment DivKtends, i¥rtere5t and ￿nts from iEWèStments 1235.7141 2207 1,493 Net (used in)Ifrom Inve5tin8 •rti¥ities 1233,5071 1,493 Cash flows from financing artlvitles Repayment of borrowings 118,974 Net cash flnancing acti¥ilies 118,974 Net Idecreaselllncrease In and Cash equi¥alerts 196,3341 25.127 Co$h and eash equlyalents atthe beginni￿ of the year 156.234 Cash and cash equivalents at the end of the year S9,￿0 25,127 Components of cash and fash equivalents Cash and bank balances 59,900 156.234 59,9 156,234 Pa8e 9 De5borough Community Deb•bpmentTTUSt Notes to the Accounts for the year ended 31 Derember 2024 l Accounting policies Basis ol preparalion The financlal statements have been prepared in actordance with Accounting and Reporting by Charities: statement of R￿0MMended Prartice applicable to charities preparing their accounts in accordance with the Financial Ileporting Standard applicable in the UK and Republic of Ireland IFP5 1021 leffective I January 20151 (Charities SORP IFRS 10211, the Financial Reportlng Standard applicèble in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2•X￿. change in bosh of accounting orto F¥re¥ious accounts There h85 been no change to the accounting Folicies (valuation rule5 and method of accounting) since tast year and no charges have been made to accounts for previous years. Fund a¢coutitin Unrestricted lunds These are available for use at the discrelion of the tmstees in furtherance of the general objects of the charity. These are unrestricted funds eamiarked by the trustees for particular purp)ses. These are unrestrirted funds which indude a revaluation reserve representing the restaternefjt of investment assets at their market values. These are available for use subject to restrictions imposed by the donor or through ternis of an appeal. Designated funds Revaluation funds Restrrrted funds Income Recognition of income Income is induded in the Statement of Financ￿1 Artrvities ISOFAI when the charity becomes entitled to. and virtualty certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expendkture the income and ￿￿ted expenditure is expenditure reported gross in the SofA. Donation5 and legacies Voluntary income received by way of grants. donations and gifts 15 included in the the SOFA when reCe￿ab￿ and onty when ihe Charity has unconditional entitkmert to the income. Tax reclaim5 on Income from tax ￿claImS is included in the SOFA at the same time as the donations and gÈfts gtftldonatlon to which it relates. Donated sèrvice5 These are onty included in income (with an equivalent amount in expenditure) Whe￿ the benefrt lo the Charity is feasonabty quantir￿b1e, 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 r￿l¥able. Gainslllossesl on This includes any gain or loss resultlng from revaluing investments to market value revaluation of ftxed at the end of the year. assets and facilitie5 Gains/llosses1 on investment assets This includes any gain or loss on the sale of investments. Page 10 De5borough Community Development Trust Notes to the Accounts Expenditure Recognition of expenditure Expenditure is recognised on an accrua15 basts. Expenditure includes any VAT which cannot be ful￿ recovered. and is rep)rted as part of the expenditure to which it relates. Expenditure on These comprise the costs assocwted wrth attrncting voluntary income, fUndra￿Ing r?￿In8 funds trading cosls and investment management costs. Expenditure on These comprise the tosts incurred by the Charity in the delivery of its artivities and charitable activities services in the lurtherance of its objects. including the making of grants and governance cost5. 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 meetin8 the constitutional and statutory requirements of the Charity. including any auditlindependent examination fees, costs linked to the strategic management of ihe Charity. together with 3 Share of other administration costs. These are support costs not allocated to a particular attivity. Grants payable Governance costs Other expenditure Taxation The charity is exempt from corporation tax on its Charitab￿ adNities. Freehold investment property Investment properties are measured initially at cost and subsequently at fairvalue at each balance sheet date and a￿ not depreciated. All gains or losses are taken to the Statement of Financial AdNilies a5 they arise. Stocks stock is included at the lower of tosi or net ￿311$able value. Donated items of stock are Teco8nised at fair value which is the amount the charity would have been willing to for the items on the open market. Trade and othÈr debtors Trade and other debtors are retoBnised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade di4count5 due. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with bank5 and othèr short-term highly liquid investments with originèl maturities of three month5 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 a￿ sh¢)wn net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. Trade and other credltors Short term Credrt0￿ are measured at the transaction price. Other creditors and provisions a￿ 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 prOv￿lOn$ are normally recognised at their settlement amount after allowing for any trade discounts due. Page 11 Desborou8h Communlty Development Tn Notes to the Actourrts Research and development Expendilure on research and development is wrTtten off in the year in which it is incurred. Foreign eurrencles Monetary assets and Ilabilities denominated in currencies other than the functional turrenty of the charity are translated ai the rates of exchange prevailing at the end of the reporting period. Transactions in CUf￿nCle$ other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange drfferences are ère taken into account in arriving al net income/expenditure. leased ass￿$ Whefe the charity enters into a lease which ents£ts tsking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which tlo not traFTr5fer 5ub5tsntiaMy all the risks and reavards of ownership to charity are cla55rfied as op*rating ￿8$e5. Assets held under finance leases are initially recognÉ5ed as assets of the chartiy at their fair value at the InCept￿n of the tease or. if lower. at the present Yalue of the mtninum lease payments. The correspondin8 liability to the lessor i5 included in the balance sheet date as a finance lease obligation. Lease payments are ap￿rtIoned between finance expenses and reduction of the lease obligation $0 as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses a recognised immediate￿, urt1￿$ they are t11reci￿ attributable to qual-tfying assets, in which case they are c3pitali5ed in accordance with the charTty's policy on borrowing costs. A55ets held under finance leases are deprecrdted in the same way a5 owned assets. Operatin6 lease payments are recognised as an ex￿nse on a stra￿ht-IIne basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are reco8nlsed as a Ilability. The aggregate benefft of incentNes 15 recogrii5ed as a reduction of rental expense on a straight-line basis. Pension w5ts The charity operates a defined contribution plan for its employees. A defined contribution plan 15 a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contribution5 are Tecognised as expenses when they fall due. Amounts not paid are shown ift èccwals in the balance sheet. The assèts of the plan are held separatety from the company in independently administered fund5. All donated goods, faalities and services received are recoEnised 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 conseque￿￿ does not have share capital. Page 12 Desborou8h Communlty De¥elownent Tftst Notes to the Accounts 3 Ststement of Financial Arti¥ikne5- pTio¥ year UnrÈstrkted fu￿ Totsl funds 2023 2023 Income and endowments from: Donations and legacies Charitable activities Investment5 1,739 65,716 1.493 1,739 65,716 1.493 Tgtsl 68,948 68.948 Expettdlture on: Raising funds Charitable activities 203 23,520 22,443 46.166 203 23,520 22,443 Other Totsl 46,166 Net incorne 22,782 22.782 Net income before other galnsll1055esl Other gains and105ses: Net movement In lunds 22,782 22,782 22,782 22.782 Reconciliation of fund$: Total funds brought forward Totsl fvnd5 caryled fofward 131,707 131,707 154,489 154,489 4 Income from donations and legacies Unrestrided Total Total 2024 2023 163 163 1,739 1,739 163 163 5 Income from tharitable arti¥itses Total 2024 Totsl 2023 64,889 64,889 65,344 372 65.732 65.732 65,716 Page 13 Desborough Commuftity Develpprnent Trust Notes to the A¢tounts 6 Income fr¢m investments Unrestrlrted Total Total 2024 2023 2.207 2,207 2.207 2,207 1,493 1,493 7 EXpen￿lture 011 raising funds Unrestrirted Total Total 2024 2023 Fundroising trading costs 566 566 203 566 566 203 8 Expendi￿re on d￿li￿ble arts¥ldes Unre5trirted Totsl 2024 Total 2023 Expenditure on churitol)le oct¥vitie5 23,520 Grants made 25.C63 25,063 Governonce costs 25.063 25.063 23.520 9 Other txpendllure Unrestrleted Total Z024 Total 2023 1.259 1,259 1,290 Bank loan and overdraft interest payable 2.440 Premses costs 13.493 5.941 420 13,493 17,031 3,762 360 General administralive costs 5.941 420 Legal and professional costs 23.553 23.553 22,443 io Staff costs No employee rece￿ed emoluments in excess of £60.CKKJ. Page 14 Desborough Community Development Trust Notes to the A£count5 11 Tan8¢ble fixed assets Cost or revaluatlon Additions At 31 December 2024 235,714 235.714 235.714 235,714 Net book Yalues At 31 December 2024 12 Debtors 235,714 235,714 2024 2023 Trade debtor5 Prepayments and accrued income 1,040 2,464 16851 16851 13 Creditors: amounts falling due wlthln one year 2024 2023 Bank loans and overdrafts Trade credttors Accruals 13,369 4,734 12.1881 15.915 4,488 761 5.249 14 Credltors: amounts fallin8 due after more than one year 2024 2023 Bank loans and overdrafts 105.605 105,605 15 Movement in fvnds Incomin8 At31 Deomber 2024 (indudiTh8 Resouices expendod At l January 8aiThsllosses 2024 Restricted funds: Unrestrkted funds: General fvnds 154,489 68,102 149.182 173,409 Total fvnds 154.489 68.102 149,1821 173,409 Pa@e 15 Desborough Community De¥*lopmeThtTru5t Notes to the A¢¢ounts 16 Analysis of net assds between fvnds Unrestricted funds Totsl Fixetl assets 235,714 43,300 235,714 43,300 Net current assets Creditor5 due in more than one year and provisions 1105,6051 1105,6051 173.409 173,409 17 Reconciliation of net debt At31 December 2024 At l January 2024 Cash flows Cash and cash equivalents 156.234 156.234 196.3341 196,3341 59,9 59,9CK) Bank loan5 1118,9741 1118,974) 1118,9741 1118,9741 Nel debt 156,234 1215,3081 159,0741 18 Related party disc105ures Controltinqporty The company is Ilmited by guarantee and has no share capital- thus no single party controls the company. Page 16 Desborough Comfflunity DevelopmentTrust Detailed Statement of Financial Adiwties for the year ended 31 December 2024 funds Total fund5 Total lunds 2024 2023 2024 lftcome and endo¥Yrnents from: Donations and legacles 163 163 163 1,739 1,739 163 Charitable activities 64,889 843 64,889 6S,344 372 65,716 65.732 65.732 Investments 2,207 2,207 2.207 2,207 1,493 1,493 Total Incorne and endowments 68,102 68,102 68.948 Expenditure on.. Costs of other trading activities 566 566 566 203 203 Total of expenditure on raising fvnds 566 566 203 Charitable activities 23.520 Grants made 25,063 25.063 25,063 25,063 23.520 Totsl of expendlture on Charitable 25.063 25,063 23.520 Other expenditure 1.259 1,259 1,290 Bank loan and overdraft interest payable 3,699 3.699 1.2 Premises costs Rent Rates Light, heat and power PremFses cleaning Premises insurances Premises repairs and maintenance 5.482 5,482 10.843 238 2.954 1.150 2.567 2.954 1,150 2.567 2.232 1,209 1,089 130 Other premises costs 1,340 13.493 1,290 17.031 13,493 Page 17 Desborough Community Devel¢pment Trust Detailed Statement of Financial Acti¥wb General administrative costs. including depreciation and amortisatbon Bank charges Equipment expensed Software. IT support and related costs stationery ènd printing Sundry expenses Telephone. fax an(1 broadband 1,223 2.418 1,223 2,418 2,183 226 226 182 17 17 672 1.554 503 5,941 1,554 503 725 5,941 3,762 Legal and professronal costs Auditllndependent examination 420 420 3f 420 420 360 Total of expendlture of other costs Total eXpen￿rture Net gains on investments 23.553 23.553 22,443 49,182 49,182 46,166 18,920 18,920 22,782 Net in(ome r+let Income before other 8ainsl{lossesl Other Gains 18.920 18,920 22,782 Net movement In fvnds 18,920 18,920 22,782 Recon