Cornell ent Trust Registered Charity: 1158680 COMPANY NUMBER: 05505171 CORNELLY DEVELOPMENT TRUST Annual Report Year ended March 31st 2025 CORNELLY DEVELOPMENT TRUST Year ended 31st March 2025 CONTENTS PAGE LEGAL AND ADMINISTRATIVE INFORMATION DIRECTORS, REPORT STATEMENT OF FINANCIAL AcfiviTIES (Appendix) 10 Cornell -ént Trust CORNELLY DEVELOPMENT TRUST Year ended 31st March 2025 LEGAL AND ADMINISTRATIVE INFORMATION Directors Craig Lambourne (Chair) Annette Pritchard Nicola Sheppard Matthew Swift Secretary Adrian Morgan Chief Executive Officer Adrian Morgan Registered Office 45147 Heol Fach, North Cornelly, Bridgend. CF33 4LN Company Number 05505171 Charity Number 1158680 Bankers Barclays Bank Plc, 1-6 Pocketts Wharf, East Burrows Road, Swansea, SAI 3XL Cornell, ént Trust CORNELLY DEVELOPMENT TRUST Year ended 31st March 2025 REPORT OF THE DIRECTORS TO THE MEMBERS OF CORNELLY & DISTRICT DEVELOPMENTTRUST CDT The Directors present their report and financial statements for the year ended March 31st 2025. Structure Governance and Mana ement Cornelly Development Trust (CDT), is both a registered charity and company limited by guarantee, established under a Memorandum of Association which defined the objects and powers of the charitable company and is governed under its Articles of Association. Currently trading as "Amdani" Reference and administrative information The company number, registered office and details of the Directors and Chief Executive can be found on page l of these financial statements. Ob"ectives CDT'S charitable objects are: The promotion for the public benefit of urban or rural regeneration in areas of social and economic deprivation by all or any of the following means: la} the relief of poverty in such ways as may be thought fit; Ib) the relief of unemployment in such ways as may be thought fit, including assistance to find employment," Ic) the advancement of education, training or retraining, particularly among unemployed people, and providing unemployed people with work experience; Id) the provision of financial assistance, technical assistance, or business advice or consultancy in order to provide training and employment opportunitie5 for unemployed people in cases of financial or other charitable need through help: (i) in setting up their own business; or lill to existing businesses," lel the creation of training and employment opportunities by the provision of workspace, buildings and/or land for use of favourable terms; (f) the provision of housing forthose who are in the conditions of need and improvement of housing in the public sector or in charitable ownership provided that such power shall not extend to relieving any local authorities or other bodies of a statutory duty to provide or improve housing; (g} the maintenance, improvement or provision of public amenities; Cornell ent Trust CORNELLY DEVELOPMENT TRUST st Year ended 31 March 2025 (h) the provision or assistance on the provision of recreational facilities for the public at large and/or those who, by reasons of their youth, age, infirmity or disablement, poverty or social and economic circumstances, have need of such facilities; "I the protection or conservation of the environment,. {kl the provision of public health facilities and childcare- {1) the promotion of public safety and prevention of crime; and (ml such other means as may from time to time be determined subject to the prior consent of the charity commissioners for England and Wales Recruitment and A ointment of Mana ement Committee The Management Committee member selection process is as follows: (11 The charity in general meeting shall elect the officers and the other trustees. (21 The trustees may appoint any person who is willing to act as a trustee. Subject to sub-clause 5{b) of this clause, they may also appoint trustees to act as officers. (3) Each of the trustees shall retire with effect from the conclusion of the annual general meeting next after his or her appointment but shall be eligible for re-election at that annual general meeting. (4) No-one may be elected a trustee or an officer at any annual general meeting unless prior to the meeting the charity is given a notice that: {a) is signed by a member entitled to vote at the meeting. {b) state5 the member's intention to propose the appointment of a person as a trustee or as an officer. {cl is signed by the person who is to be proposed to show his or her willingness to be appointed. {5} (a) The appointment of a trustee, whether by the charity in general meeting or by the other trustees, must not cause the number of trustees to exceed any number fixed in accordance with this constitution as the maximum number of trustees. (bl The trustees may not appoint a person to be an officer if a person has already been elected or appointed to that office and has not vacated the office Induction and Trainin of Directors Directors receive induction training covering background information and the work of the current management committee. Informal meetings and attendance at a committee meeting are encouraged followed by a formal process of application and selection. Additional training is offered from time to time, which contributes to the skills and effectiveness of our management committee. Cornell ent Trust CORNELLY DEVELOPMENT TRUST Year ended 31" March 2025 Committee members are encouraged at any time to seek further information on relevant matters from the Chair or Chief Executive Officer. Risk Mana ement The Directors actively review the major risks that the Trust faces on a regular basis and believe that the establishment of a reserve fund combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The Directors have also examined other operational and business risks faced by the Trust and confirm that they have established systems to mitigate the risks. anisational Structure The Trust is organised so that the Directors meet regularly to manage its affairs. Meetings take place six times a year. The Directors delegate day to day running of the Trust and its medium term strategic development to the Chief Executive Officer. Our Staff We believe that our staff are our most valuable asset. We currently employ 4 members of staff who represent the equivalent of 2.4 full time employees across the organisation. We aim to encourage and support them to realise their full potential. Their dedication and commitment to CDT is exceptional. Volunteers CDT is very fortunate to have a dedicated team of volunteers who work in various positions across the organisation. 9 new volunteers were recruited throughout the year, and over 200 people have supported the organisation in total during the year. We currently have 11 volunteers working each week for the Trust. Their commitment and support is rewarded with on the job training and work experience, and their contribution to the organisation is greatly valued by the board and staff alike. Covnelly ent Trust CORNELLY DEVELOPMENTTRUST Year ended 31st March 2025 Achievements and Performance (Based on the requirements of the funders we are working with, and the priorities we agreed with the Chief Executive.) Priority Recruit 24 new volunteers Outcome 13 new volunteers have been recruited across the last twelve months. We have also lost 5 former volunteers to illness, employment elsewhere or to other circumstances. 5t has been a difficult period to recruit volunteers as there seems to be a lack of interest across the board. However, our volunteer teams have contributed over 4800 hours to our work over the year. Consolidate the existing social enterprise and shop, driving sales to encourage growth The team has worked diligently to increase footfall in the shop (Amdanil as well as supportingthe ReFab enterprise to define its core products and develop them to a high standard where they are saleable in the shop and online. Footfall has increased but sales are reduced in Amdani, which can be put down to the fact that our demographic has far less disposable income at the moment. The things that we sell in the shop are not necessarily "everyday" items, and as is the nature of a charity shop, we cannot guarantee that we will have the items that someone is looking for at the point in time. As a result we are not the obvious first choice when they need a new pair of shoes etc. ReFab has developed the skills of the participants and they have defined their product range to 8 specific items that are easy to make, quality can be managed, and the public want to buy.. i.e. aprons, tote bags, book pillows, door stops etc.. We have attempted to tender for opportunities with other organisations that deliver on a national scale, but to date have had no success. Very little feedback has been given but it seems that we are seen as too small an organisation and have too small an area to deliver in. Alternatively our area does not meet the requirements of the larger Contracting with other larger agencies to deliver on their behalf Comelly ent Trust CORNELLY DEVELOPMENTTRUST st Year ended 31 March 2025 tenders for delivery. We continue to try and obtain contract work though. CDT has delivered Agored Cymru training in various subjects, working with partners in Adult Learning, BAVO, Online Centres and other providers locally. Subjects covered have included Food Hygiene L2, First Aid at work, NVQI in growing skills, LANTRA Strimmer and Brushcutter and PAI PA6 qualifications. Working with the current funding strategy has paid off in terms of grants received. CDT has been successful in obtaining funds from the following organisations over the year 2023/24: Awards 4 All Wales Working with partners to deliver accredited training to our participants Obtaining funding to safeguard the current complement of Staff, and increasing it in response to business demands Building Communities Trust Garfield Weston Heart Research UK Hubbub Community Fridge Mccarthy Stone National Lottery EGIN People's Postcode Lottery Waterloo Foundation WCVA Volunteering Wales Welsh Church Act Fund Unfortunately demand for services also grew over the same period and since the grants were either capital or restricted revenue, they have been used up during the period. Our trustees and staff members are constantly looking at opportunities to support local people. As a result we take feedback and suggestions from members of the public in our shop, Hub and Forum meetings, and then work out what we can deliver and how it can be funded. One such project was Healthy Hearts, funded by Heart Research UK, and entailed bringing groups of people together each week to take part in some physical exercise- i.e. growing vegetables- and learning to cook healthily by substituting certain ingredients for those that would improve blood pressure and heart health. The Trust continues to reflect on its Increasing our offer to the general public Comell ent Trust CORNELLY DEVELOPMENT TRUST Year ended 31st March 2025 offer to the public and adapt to local changes and needs. Rebranding the organisation to enable us to expand and work in other areas Following extensive consultation Cornelly Development Trust lor the charity shop as it became known) chose a new name that will be used for the public. Amdani was chosen as it is a Welsh word that means"For us" or"About us" and is easy to say and spell. A new website was created, exterior signage and all other branded items that were felt necessary. While the charity is Still officially "Cornelly Development Trust" we applied to the Charity Commission to have Amdani as the public facing name and it was agreed. It has given the organisation a fresh new look and continuity across its d ifferent locations. It also removed the issue of "Cornelly" being in the title when delivering in other areas a5 that seemed to cause some friction with people living there, Amdani is quite generic and can be used wherever the Trust decides to go in future. Maintain a Community Hub with various services including the Credit Union. Public Access Computers, Food Coopi Informal Training Sessions and general community signposting and information. The CDT office is a community hub with a workspace, shop, offices and meeting area. We use the premises to deliver all sorts of general community activities including a regular craft group, job clubs, public access computers, Food Pantry and associated services. The coffee area has been enhanced over the year and now has regular visitors who meet up there on a weekly basis. The bi-monthly forum, funded by Building Communities Trust, under their Community Anchor Development Programme, has been very successful. It brings together local residents, businesses, third sector groLJPS and statutory organisations so that they can share information, discuss issues and network with each other for the benefit of the local area. It has been key to some of our consultation work this year, and meetings are highly anticipated by local residents. Creating a community forum where local residents, businesses, third sector organlsations and statutory bodies can come together to identify and resolve issues that affect them. Cornell ent Tvust CORNELLY DEVELOPMENTTRUST Year ended 31st March 2025 The Trust has not been able to generate any reserves this year purely down to the adverse funding situation. All monies received from funders have been specific to projects and cannot be used for other purposes. Any money generated through our charitable activities and shop have also been used up in activities and subsidising food or trips etc for local people. The trustees hope to be able to make inroads into raising reserve in the coming year but demand on services remains high while grant funding is extremely limited and very competitive. Income was £210k this year, up from £159k in 2023/4, but with increased operating cost5 and the needs of the service users growing exponentially, the Trust still made a loss of £18k, which was down from a loss of £28k in the previous year. Plans for Future Periods Our immediate priorities for the next year include: Secure funding for additional full time roles in support of the CEO for 3 years Continue to improve the range and profitability of our Social Enterprises to act as a hedge fund against the lack of public and private funding streams that are available Diversify income streams as a firewall against the extremes of the funding climate Increase the membership of the Trust amongst the general population within the area of benefit Public Benefit Statement The Trust has more than 300 people attending its premises each week, from shoppers to people attending activities, and those seeking help and support. A major part of the work done over the last year has been to facilitate cohesion across different elements of the community, and provide support to older, more isolated residents. Working on activities that bring older and younger people together, or those from different social demographics, has been key to improving the feeling of "community" within the area. The team has been responsible for signposting to other services, acting as an advocate for local people who struggle to navigate social housing providers, local authority services and energy providers plus other more specific issues. The Trust has been able to issue food bank vouchers to those who need them as well as offering emergency food parcels. We work with local churches to operate the"Christmas Sparkle" appeal, whereby toys and gifts are donated by the wider public and donated to local families ensuring that they don't miss out at Christmas. The Trust also works to deliver Christmas Food Hampers to those families that we know would miss out. Offering low cost, or no cost, activities for children during school holidays has also been well supported by the community. A varied range of seasonal themed activities has been created and delivered by the staff and volunteers at CDT. Cornell ent Tvust CORNELLY DEVELOPMENT TRUST Year ended 31st March 2025 Res onsibilities of the Mana ement Committee Company law requires the management committee to prepare financial statements for each financial year which give a true and fair view of the state of the Trust as at the balance sheet date and of its incoming resources and the application of resources, including income and expenditure for the financial year. In preparing those financial statements the management committee should follow best practice and: Select suitable accounting policies and apply them consistently Make judgements and estimates that are reasonable and prudent Prepare the financial statements on the going concern basis unless it is inappropriate to consider that the organisation will continue on that basis The management committee is responsible for maintaining proper accounting records which disclose with reasonable accuracy, the financial position of the organisation and to enable them to ensure that the financial statements comply with the Companies Act 2006. The management committee is also responsible for safeguarding the assets of the organisation and hence for taking reasonable Steps for the prevention and detection of fraud and any other irregularities. This report has been prepared in accordance with the Statement of Recommended Practice for Accounting and Reporting by Charities (March 2005) and in accordance with the special provisions of the Companies Act 2006, relating to small entities. th Approved by the board of directors on 14 October 2025, and signed on its behalf by: Craig Lambourne Chair Adrian Morgan Company Secretary Cornell ' ent Trust io CORNELLY DEVELOPMENT TRUST Year ended 31st March 2025 Statement of Financial Activities The financial statements are attached in appendix. Covnelly ent Trust li Company Registration Number: 05505171 Charity Registration: 1158680 Unaudited Micro-Entity Accounts Year Ended 31[st] March 2025 ## **Period of Accounts** Start Date: 1[st] April 2024 End Date: 31[st] March 2025 This company is Limited by Guarantee and therefore has no share capital. ## **Contents of the Financial Statements** For the period ended 31[st] March 2025 Company Information 3 Income and Expenditure Account 4 Balance Sheet 6 Footnotes to the Balance Sheet 7 ## **Cornelly Development Trust** ## **Registered Office:** Cornelly Development Trust 45/47 Heol Fach North Cornelly Bridgend CF33 4LN Company Registration Number Charity Registration Number (England and Wales) 05505171 (England and Wales) 1158680 ## **Trustees (Directors)** Craig Lambourne Annette Pritchard Nicola Sheppard Matthew Swift ## **Bankers** Barclays Bank Plc 262 Oxford Street Swansea SA1 3BR ## **Cornelly Development Trust** ## **Financial Activities** |for the period ended 31st March
**Income**
Grant Income
Charity Shop Sales
Community Asset Loan Fund
Flat Rental Income
Room Hire Income
Stock Wastage
Other Income
**Total Income**
Cost of sales
Direct Expenses
Operating Costs - Labour
Operating Costs - Materials
**Total Operating Costs**
**Total**
**Expenditure**
Advertising/Promotions
Bank Charges Paid
Bank Interest Paid
Computer Costs
Delivery Charges
Electricity
ENIC
Entertaining
Insurances
Interest Payable
Legal
Maintenance & Repairs
Membership Fees Paid
Non Domestic Rates
Office/General Administrative Expenses
Other Professional Fees
Payroll Expenses
Pension Contributions
Phone Costs|**2025**
**2024**
**2023**
144,996.00
£
94,565.00
£
116,866.00
£
47,978.00
£
53,204.00
£
33,062.00
£
-
£
-
£
90,000.00
£
12,225.00
£
10,989.00
£
-
£
698.00
£
-
£
-
£
2,348.00
£
-
£
-
£
2,542.00
£
601.00
£
-
£
**210,787.00**
**£**
**159,359.00**
**£**
**239,928.00**
**£**
137.00
£
227.00
£
10,673.00
£
2,811.00
£
3,570.00
£
31,827.00
£
134,389.00
£
109,350.00
£
122,698.00
£
11,784.00
£
28,217.00
£
67,317.00
£
**149,121.00**
**£**
**141,364.00**
**£**
**232,515.00**
**£**
**61,666.00**
**£**
**17,995.00**
**£**
**7,413.00**
**£**
2,684.00
£
565.00
£
413.00
£
1,029.00
£
1,276.00
£
1,667.00
£
323.00
£
901.00
£
343.00
£
2,313.00
£
1,172.00
£
524.00
£
614.00
£
706.00
£
1,708.00
£
11,727.00
£
2,404.00
£
3,875.00
£
3,343.00
£
2,863.00
£
2,522.00
£
1,947.00
£
2,280.00
£
1,110.00
£
1,309.00
£
1,777.00
£
318.00
£
-
£
-
£
-
£
-
£
3,800.00
£
34,177.00
£
14,329.00
£
2,261.00
£
341.00
£
1,262.00
£
1,208.00
£
793.00
£
508.00
£
1,927.00
£
1,172.00
£
834.00
£
5,231.00
£
1,009.00
£
3,114.00
£
4,334.00
£
806.00
£
3,248.00
£
1,354.00
£
507.00
£
697.00
£
668.00
£| |---|---| **----- Start of picture text -----**
Printing Postage & Stationery £ 950.00 £ 686.00 £ 1,578.00
Rent or lease of Buildings £ 6,283.00 £ 231.00 £ 14,385.00
Staff Training £ 30.00
Travel & Accommodation £ 1,682.00 £ 1,495.00 £ 1,637.00
Waste Services £ 1,263.00 £ 258.00
Water £ 298.00 £ 198.00 £ 165.00
Total Expenditure £ 80,396.00 £ 45,968.00 £ 40,068.00
NET OPERATING INCOME -£ 18,730.00 -£27,973.00 -£32,655.00
NET INCOME/EXPENDITURE -£18,730.00 -£27,973.00 -£32,655.00
Grants Received
Awards 4 All Wales £ 18,080.00 £ 144,996.00
Building Communities Trust £ 47,637.00
Garfield Weston £ 10,000.00
Heart Research UK £ 2,181.00
Hubbub Community Fridge £ 4,500.00
McCarthy Stone £ 7,176.00
National Lottery EGIN £ 14,632.00
People's Postcode Lottery £ 25,000.00
Waterloo Foundation £ 10,000.00
WCVA Volunteering Wales £ 3,547.00
Welsh Church Act Fund £ 2,243.00
Room Hire
Valleys 2 Coast £ 48.00 £ 698.00
Cwmpas/Tanio Carers Project £ 600.00
Employability Bridgend £ 50.00
Other Income
DTA Wales Mentoring £ 193.00 £ 2,348.00
Gift Aid Claimed £ 2,155.00
Stock Wastage
Choose 2 Reuse £ 2,237.00 £ 2,454.00
Ziffit & World Of Books £ 217.00
Total £ 150,496.00
**----- End of picture text -----**
## **Cornelly Development Trust** ## Notes to the Financial Statements **For The Year Ended 31 March 2025** ## **1. Accounting Policies** ## **Basis of preparing financial statements** The financial statements of the charitable company, which is a public benefit under FRS102, have been prepared in accordance with the charities SORP (FRS102) '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 (FRS102) (effective 1 January 2019)'. Financial Reporting Standard 102 'The Financial reporting Standard applicable in the UK and Republic of Ireland and Companies Act 2006. This is not consistent with prior years. The financial statements have been prepared under the historical cost convention. The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS102. - the requirements of Section 7 Statement of Cashflows - the requirement of paragraph 3.17(d) - the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c) - the requirements of paragraphs 12.26, 12.278, 12.29(a), 12.29(b), and 12.29A - the requirement of paragraph 33.7 ## **Income** All income is recognised in the Statement of Financial Affairs once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a trandfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directlyattributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Intangible Assets/Intellectual Property** Intellectual property represents costs incurred in Research and Development time and resouorces spent on generating knowledge and information on new projects that Cornelly Development Trust will be tendering for the economic benefit of which is exprected to flow into the Trust in future periods, usually the subsequent three financial years. As such, each year's capitalised cost is written off over three years commencing in the following financial year. ## **Tangible Fixed Assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |Cornelly Development Trust Office & Shop Premises|**5% on cost**| |---|---| |Flat 45B Heol Fach|**5% on cost**| |Flat 47A Heol Fach|**5% on cost**| |Plant and Machinery|**20% on cost**| |Fixtures and Fittings|**20% on cost**| |Motor Vehicles|**Not provided**| |Computer Equipment|**20% on cost**| Fixed Assets purchased with restricted funds are expensed within the year of purchase. ## **Taxation** The charity is exempt from corporation tax on its charitable activities ## **Fund Accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees 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 fund are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements ## **Hire Purchase and Leasing Commitments** Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. ## **Pension Costs and Other Post Retirement Benefits** The charitable company operates a defined contributions pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **Cornelly Development Trust** |**BALANCE SHEET**
As at 31
st
March
**Tangible Fixed Assets**
Buildings & Freehold at Cost
Fixtures and Fittings at Cost
Fixtures and Fittings Depreciation
Office Equipment Cost
Office Equipment Depreciation
**TOTAL TANGIBLE ASSETS**
**TOTAL FIXED ASSETS**
**CASH AT BANK AND IN HAND**
Charity Current Account
Restricted Current Account
Petty Cash
**TOTAL CASH AT BANK AND IN HAND**
Debtors
Current Assets - Stock
**NET CURRENT ASSETS**
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR
Trade Creditors
HMRC
**Total Creditors, Amounts Falling Due**
**Within One year**
NET CURRENT ASSETS(LIABILITIES)
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
Buildings and Freehold Depreciation|**2025**
396,950
£
30,278
-£
26,000
£
4,718
-£
24,619
£
11,546
-£
**401,027**
**£**
**401,027**
**£**
16,312
-£
14,521
£
623
-£
**2,414**
**-£**
**2,414**
**-£**
785
£
4,668
£
**5,453**
**-£**
7,867
-£
**393,160**
**£**|**2025**|**2024**
396,950
£
14,400
-£
15,237
£
3,047
-£
28,865
£
5,773
-£
**417,832**
**£**
**417,832**
**£**
8,154
-£
9,506
£
768
£
**2,120**
**£**
13,777
£
12,686
£
**28,583**
**£**
4,736
£
-
£
-
£
**4,736**
**-£**
23,847
£
**441,679**
**£**|**2024**|**2023**
360,000
£
10,237
£
770
-£
17,677
£
**387,144**
**£**
**387,144**
**£**
9,324
£
38,206
£
40
£
**47,570**
**£**
5,597
£
18,676
£
**71,843**
**£**
420
£
-
£
-
£
**420**
**-£**
72,263
£
**459,407**
**£**| |---|---|---|---|---|---| ||||||| Balance Sheet Continued ## CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR |Community Asset Loan|£|144,190
£|£|137,846
£|£|150,000
£| |---|---|---|---|---|---|---| |Third Sector Resilience Fund|£|3,152
£|£|5,860
£|£|2,776
£| |HP Loan (A0 Printer)|£|-
£|£|-
£|£|364
£| |**Total Creditors, Amounts Falling Due**||||||| |**After One year**|**£**|**147,342**
**£**|**£**|**143,706**
**£**|**£**|**153,140**
**£**| |**TOTAL NET ASSETS(LIABILITIES)**|**£**|**245,818**
**£**|**£**|**297,973**
**£**|**£**|**306,267**
**£**| |Surplus/Deficit
**TOTAL CHARITY FUNDS**|**£**|-£18,730.00
**227,088**
**£**|**£**|-£27,973.00
**270,000**
**£**|**£**|-£32,655.00
**273,612**
**£**| ## **Balance Sheet Continued** 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 Act with respect to accounting records and the preparation of accounts. These accounts have been prepared and delivered in accordance with the provisions of the small companies regime applicable to micro entities. For the year ending 31[st] March 2025 the company was entitles to exemption under section 477 of the Companies Act 2006 relating to small companies. ## **This report was approved by the board on 6th June 2025 and signed on behalf of the board by:** **Craig Lambourne Chair of the Board of Trustee** s The notes form part of these financial statements Independent Examiner's Report Report to the trusteeslmernbers of Comelly Development Trust, charity number 1158680, on accounts for 2025. I report to the trustees on my examination of the accounts of the above charity (°The Trust") for the year ended 3110312025. As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("The ACV,). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable directions given by the Charity Commission under section 145(5){b) of the Act. I have completed my examination and l Gonfirm that no material matters have come to my attention which give me cause to believe that, in any material respect.. accounting records were not kept in accordance with section 130 of the Act or 2. the accounts do not accord with the accounting records. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to establish a proper understanding of the accounts to be reached. Signed: Narne.. R Howard (AAT L3) Date.. 1910912025