REGISTERED COMPANY NUMBER: 09195621 (England and Wales) REGISTERED CHARITY NUMBER: 1160269
Report of the Trustees and
Financial Statements for the Year Ended 31 August 2025
for
DT38 FOUNDATION
(A Company Limited by Guarantee)
JPW ACCOUNTANCY SERVICES & MANAGEMENT CONSULTANTS Chartered Certified Accountants
48 Sandy Lane South, Wallington, Surrey, SM6 9RQ
DT38 FOUNDATION
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).
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.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
09195621 (England and Wales)
Registered Charity number
1160269
Registered office
TIME CENTRAL 32 GALLOWGATE NEWCASTLE UPON TYNE NE14BF
Trustees
Joe Harry John Sealey Company Director Taylor James Tombides Company Director Jonathan Whinfield Sweet Company Director Michele Virginia Verroken Company Director Nicole Toni Sealey Company Director Christopher Brian De Lima (appointed 24.9.25) Robert John Donald Pritchard (appointed 24.9.25)
Company Secretary
Muckle Secretary Limited
Independent Examiner
JPW ACCOUNTANCY SERVICES & MANAGEMENT CONSULTANTS Chartered Certified Accountants 48 Sandy Lane South, Wallington, Surrey, SM6 9RQ
Approved by order of the board of trustees on 27 February 2026 and signed on its behalf by:
Taylor James Tombides - Trustee
Page 1
Independent Examiner's Report to the Trustees of DT38 FOUNDATION
Independent examiner's report to the trustees of DT38 FOUNDATION ('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 2. 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.
Janet Wallace, FCCA
JPW ACCOUNTANCY SERVICES & MANAGEMENT CONSULTANTS Chartered Certified Accountants
48 Sandy Lane South, Wallington, Surrey, SM6 9RQ
27 February 2026
Page 2
DT38 FOUNDATION
Statement of Financial Activities
for the Year Ended 31 August 2025
| 31.8.25 | 31.8.24 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | fund | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||||
| Donations and legacies | 27,593 | - | 27,593 | 27,861 | ||
| Charitable activities | ||||||
| Events | 32,067 | - | 32,067 | 48,881 | ||
| Other trading activities | 2 | 2,600 | - | 2,600 | - | |
| Total | 62,260 | - | 62,260 | 76,742 | ||
| EXPENDITURE ON | ||||||
| Raising funds | 2,434 | - | 2,434 | 1,899 | ||
| Charitable activities | 3 | |||||
| Programme Activities | 50,180 | - | 50,180 | 23,430 | ||
| Other | 33,934 | - | 33,934 | 49,000 | ||
| Total | 86,548 | - | 86,548 | 74,329 | ||
| NET INCOME/(EXPENDITURE) | (24,288) | - | (24,288) | 2,413 | ||
| RECONCILIATION OF FUNDS | ||||||
| Total funds brought forward | (8,647) | - | (8,647) | (11,060) | ||
| TOTAL FUNDS CARRIED FORWARD | (32,935) | - | (32,935) | (8,647) | ||
The notes form part of these financial statements
Page 3
DT38 FOUNDATION
Balance Sheet
31 August 2025
| 31.8.25 | 31.8.24 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | fund | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| FIXED ASSETS | ||||||
| Intangible assets | 8 | 8,952 | - | 8,952 | 8,479 | |
| CURRENT ASSETS | ||||||
| Debtors | 10 | 2,600 | - | 2,600 | - | |
| Cash at bank | 9,992 | - | 9,992 | 4,964 | ||
| CREDITORS | 12,592 | - | 12,592 | 4,964 | ||
| Amounts falling due within one year | 11 | (5,000) | - | (5,000) | (8,749) | |
| NET CURRENT ASSETS | 7,592 | - | 7,592 | (3,785) | ||
| TOTAL ASSETS LESS CURRENT | ||||||
| LIABILITIES | 16,544 | - | 16,544 | 4,694 | ||
| CREDITORS | ||||||
| Amounts falling due after more than one year | 12 | (49,479) | - | (49,479) | (13,341) | |
| NET ASSETS | (32,935) | - | (32,935) | (8,647) | ||
| FUNDS | 14 | |||||
| Unrestricted funds | (32,935) | (8,647) | ||||
| TOTAL FUNDS | (32,935) | (8,647) |
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.
The notes form part of these financial statements
continued...
Page 4
DT38 FOUNDATION
Balance Sheet - continued
31 August 2025
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 27 February 2026 and were signed on its behalf by:
Taylor James Tombides - Trustee
The notes form part of these financial statements
Page 5
DT38 FOUNDATION
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.
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.
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 transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
-
Computer - Fours years on a straight line basis with nil residual value
-
Office Equipment - Four years on a straight line basis with nil residual value
-
Fixtures and Fittings - Ten years on a straight line basis with nil residual value
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 funds 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.
continued...
Page 6
DT38 FOUNDATION
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | |||
|---|---|---|---|
| 31.8.25 | 31.8.24 | ||
| £ | £ | ||
| Merchandise income | 2,600 | - |
3. CHARITABLE ACTIVITIES COSTS
| Media & promotions Events Costs Direct Programme Activities costs Website development |
GENERAL £ 358 11,979 27,714 3,352 43,403 |
SUPPORT £ 72 2,419 5,596 677 8,764 |
TOTAL £ 430 14,398 33,310 4,029 52,167 |
|
|---|---|---|---|---|
| SUPPORT COSTS Management Finance £ £ Other resources expended 25,523 - Programme Activities 24,166 38 49,689 38 Support costs, included in the above, are as follows: Management Other resources expended £ Wages 23,965 Telephone 181 Office Costs 777 Rent 600 25,523 |
Human Governance resources costs Totals £ £ £ - 2,078 27,601 674 - 24,878 674 2,078 52,479 31.8.25 31.8.24 Programme Total Total Activities activities activities £ £ £ 15,456 39,421 25,000 1,897 2,078 1,801 213 990 2,457 6,600 7,200 7,200 24,166 49,689 36,458 |
4. SUPPORT COSTS
continued...
Page 7
DT38 FOUNDATION
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
4. SUPPORT COSTS - continued Finance
==> picture [459 x 315] intentionally omitted <==
----- Start of picture text -----
||||
|---|---|---|
|31.8.25|31.8.24|
|Programme|Total|
|Activities|activities|
|£|£|
|Bank charges|38|116|
|Information technology|
|31.8.25|31.8.24|
|Total|Total|
|activities|activities|
|£|£|
|-|
|Postage and stationery|1,103|
|Human resources|
|31.8.25|31.8.24|
|Programme|Total|
|Activities|activities|
|£|£|
|Software licences|674|421|
|Governance costs|
|31.8.25|31.8.24|
|Other|
|resources|Total|
|expended|activities|
|£|£|
|Accountancy and legal fees|2,078|1,000|
----- End of picture text -----
5. TRUSTEES' REMUNERATION AND BENEFITS
One of the trustees were paid rental income for the dedicated provision for rental office /storage space of £7,200.00.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2025 nor for the year ended 31 August 2024.
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
==> picture [452 x 20] intentionally omitted <==
----- Start of picture text -----
||||
|---|---|---|
|31.8.25|31.8.24|
|Administration|1|1|
----- End of picture text -----
No employees received emoluments in excess of £60,000.
continued...
Page 8
DT38 FOUNDATION
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
| 7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| fund | fund | funds | |||
| £ | £ | £ | |||
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 27,861 | - | 27,861 | ||
| Charitable activities | |||||
| Events | 48,881 | - | 48,881 | ||
| Total | 76,742 | - | 76,742 | ||
| EXPENDITURE ON | |||||
| Raising funds | 1,899 | - | 1,899 | ||
| Charitable activities | |||||
| Programme Activities | 23,430 | - | 23,430 | ||
| Other | 49,000 | - | 49,000 | ||
| Total | 74,329 | - | 74,329 | ||
| NET INCOME | 2,413 | - | 2,413 | ||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | (11,060) | - | (11,060) | ||
| TOTAL FUNDS CARRIED FORWARD | (8,647) | - | (8,647) | ||
| 8. | INTANGIBLE FIXED ASSETS | ||||
| COST | Patents and licences £ |
||||
| At 1 September 2024 | 3,494 | ||||
| Additions | 473 | ||||
| At 31 August 2025 | 3,967 | ||||
| AMORTISATION | |||||
| At 1 September 2024 and 31 August 2025 | (4,985) | ||||
| NET BOOK VALUE | |||||
| At 31 August 2025 | 8,952 | ||||
| At 31 August 2024 | 8,479 |
continued...
Page 9
DT38 FOUNDATION
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
TANGIBLE FIXED ASSETS
| 9. | TANGIBLE FIXED ASSETS | ||||
| Fixtures | |||||
| and | Computer | ||||
| fittings | equipment | Totals | |||
| £ | £ | £ | |||
| COST | |||||
| At 1 September 2024 and 31 August 2025 | 1,501 | 2,457 | 3,958 | ||
| DEPRECIATION | |||||
| At 1 September 2024 and 31 August 2025 | 1,501 | 2,457 | 3,958 | ||
| NET BOOK VALUE | |||||
| At 31 August 2025 | - | - | - | ||
| At 31 August 2024 | - | - | - | ||
| 10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| Other debtors | 31.8.25 £ 2,600 |
31.8.24 £ - |
|||
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| Other loans (see note 13) | 31.8.25 £ 3,750 |
31.8.24 £ 7,750 |
|||
| Trade creditors | - | (1) | |||
| Other creditors | 1,250 | 1,000 | |||
| 5,000 | 8,749 | ||||
| 12. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE | YEAR | |||
| Other loans (see note 13) | 31.8.25 £ 49,479 |
31.8.24 £ 13,341 |
|||
| 13. | LOANS | ||||
| An analysis of the maturity of loans is given below: | |||||
| Amounts falling due within one year on demand: | 31.8.25 £ |
31.8.24 £ |
|||
| Other loans | 3,750 | 7,750 | |||
| Amounts falling between one and two years: | |||||
| Other loans - 1-2 years | 49,479 | 13,341 |
continued...
Page 10
DT38 FOUNDATION
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
14. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Net | |||
| movement | At | ||
| At 1.9.24 | in funds | 31.8.25 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | (8,647) | (24,288) | (32,935) |
| TOTAL FUNDS | (8,647) | (24,288) | (32,935) |
| Net movement in funds, included in the above are as follows: | |||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
| General fund | 62,260 | (86,548) | (24,288) |
| TOTAL FUNDS | 62,260 | (86,548) | (24,288) |
| Comparatives for movement in funds | |||
| Unrestricted funds | At 1.9.23 £ |
Net movement in funds £ |
At 31.8.24 £ |
| General fund | (11,060) | 2,413 | (8,647) |
| TOTAL FUNDS | (11,060) | 2,413 | (8,647) |
| Comparative net movement in funds, included in the above are as follows: | |||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
| General fund | 76,742 | (74,329) | 2,413 |
| TOTAL FUNDS | 76,742 | (74,329) | 2,413 |
continued...
Page 11
DT38 FOUNDATION
Notes to the Financial Statements - continued
for the Year Ended 31 August 2025
14. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.9.23 | in funds | 31.8.25 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | (11,060) | (21,875) | (32,935) |
| TOTAL FUNDS | (11,060) | (21,875) | (32,935) |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds | Incoming Resources resources expended £ £ |
Movement in funds £ |
|---|---|---|
| General fund | 139,002 (160,877) |
(21,875) |
| TOTAL FUNDS | 139,002 (160,877) |
(21,875) |
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2025.
Page 12
DT38 FOUNDATION
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 August 2025 | ||
| 31.8.25 | 31.8.24 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | - | 2 |
| Donations | 27,593 | 27,859 |
| Other trading activities | 27,593 | 27,861 |
| Merchandise income | 2,600 | - |
| Charitable activities | ||
| Events | 32,067 | 48,881 |
| Total incoming resources | 62,260 | 76,742 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Merchandise costs | 2,434 | 1,899 |
| Charitable activities | ||
| Advertising | 9,306 | 10,619 |
| Events Cost | 15,037 | 9,902 |
| Website | 959 | 1,192 |
| Other | 25,302 | 21,713 |
| Accommodation & Travel | 333 | 969 |
| Book-keeping & Accounting | 6,000 | 5,650 |
| Management fee | - | 5,000 |
| Support costs | 6,333 | 11,619 |
| Management | ||
| Wages | 39,421 | 25,000 |
| Telephone | 2,078 | 1,801 |
| Office Costs | 990 | 2,457 |
| Rent | 7,200 | 7,200 |
| 49,689 | 36,458 | |
| Finance | ||
| Bank charges | 38 | 116 |
This page does not form part of the statutory financial statements
Page 13
DT38 FOUNDATION
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 August 2025 | ||
| 31.8.25 | 31.8.24 | |
| £ | £ | |
| Finance | ||
| Information technology | ||
| Postage and stationery | - | 1,103 |
| Human resources | ||
| Software licences | 674 | 421 |
| Governance costs | ||
| Accountancy and legal fees | 2,078 | 1,000 |
| Total resources expended | 86,548 | 74,329 |
| Net (expenditure)/income | (24,288) | 2,413 |
This page does not form part of the statutory financial statements
Page 14
DT38 FOUNDATION
Contents of the Financial Statements for the Year Ended 31 August 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | to | 5 |
| Notes to the Financial Statements | 6 | to | 12 |
| Detailed Statement of Financial Activities | 13 | to | 14 |