I)u9 Erwew ID.. 0DE1EASFA1l2F437E.14B99IB8 R•glst•r•d numb•r. 10626985 Charlty numb•r: 1172623 CAMBRIDGE EDUCATION AND DEVELOPMENT TRUST (A Company Umlted by Guarantee) UNAUDITED TRUSTEES. REPORT AND ANANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
clBRIDGE EDUCATION AND DEVELOPMEKf TRUST (A Compwy Lhrf10d arante•l R•hr•ne• •KI *Aknlnlslrnllv• D•lall• of the Crfty. Its Tnmtses and Adv11$ T•8. Ryrt Independent Exwnln•ts R•pNt Statsm•nl of Fknan¢W AclMtI•• Notes to th• Flnan¢l•l St•tom•nts 8-13
En¥alq ID.. DDE1EA5FA13A-862F-837E.l4B99IBEB CAMBRIDGE EDUCATION AND DEVELOPMENT TRUST IA compu Umlt•d by Guarant••) REFERENCE lD )mINSTRATIvE DEfALS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2025 Tru#t•é Mr Jeremy Carvor Dr Anil Seal (rgsigngd 28 FO 2026) Henry Sa(knlle Barf Prol Slr Marl( WenaThJ (resigned 28 Februwy 20261 Prof D90pak Nayyar (resigned 28 February 2026) Company r•gl•t•r•d numb•r 10626985 Charlty r•glBt•rod nUrnr 1172623 R•glstthd offlce 11 MadIngY Ro•1 Cambridge CB3 OEG Indopandant Examln•rn Peters EkrthY & ML0 Chartered Accountants Salisbury Htyjse Stslion Road Cambridge CBI 2LA Bank•rn Natk)nal Westmknstsr Bank Pk 250 Bishopgate Lond EC2M 4AA Page 1
CPal8RK)GE EDUCATK)N AND DEVELOPMENT TRUST {A Coroyw Lhnll•d tr4 Guarant••) TrUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2025 The Trustoes pr858nt Ihair amual repcKt lth th8 fin•Kial statamants of thg Chaiity lor th9 1 Aust 2024 to 31 Jjty 2025. Thg Amual Rep)rt serves the purposes bolh a Trustees. Report and a dlrectors. report under ccrfnpany law. The Trustees confirni that the Annual Report and financial statemenls of the charftsbl8 company comply wllh the current slatutory wSrements. the requlrements of the charltsble companys goveming dwument arml the provisi(Th of the Stement of Re(Thimended Practice ISORPI applicable to ¢harili¢$ weparing their a¢Unts in ardance ith Fan(la1 RowbrtirvJ SlaTrJard applica9 in the UK and Republlc of Ireland (FRS102118ffective 1 Jarnwy 2019). SirKg Ihe Chorfty qualifi85 as srrnl urthr so¢¢k 382 of Ihe Crynbgs Act 2Crf)6, thg Strateg Report requlred of mlurn and large compani8s under the C188 Acl 2CM)6 (Strateglc Re[ and Dlr8(Aor8' Report) Regulations 2013 has been omlited. 08JECTIVES AND ACTMTIES The Charfty was fonned the rwrrrfbse of the of ILY Ihg bgnefft of tho wbliG Thi5 is to b8 don8 ways.. (l) by Ihe pro¥lskffl of scv)larshlps, bursafies aThl grants t¢ sludents from the dèvaknpkng world al aTrJ d8partments at the lthfversltyof Cambthyga. as as other hWtrr8thd urfversllles In thè UK. 11) The doent of oSlaLMifalive iiitialives betlveen suth 1VeIlle8 and $imilar institutions of higher education Wb the Commonwealth partiaAar but not limit8d to PAalaysia) and boyond. for tha advancAm8nl of knovAedge for the benefit of the peoples of tlw parbGLtsr n)ns. There is a particular emphasls on educatS0n, hgalth aThJ ggngral wro prLwnpted by suslalnablg dovdoyrn In seltlng ot4ectlves 8rn1 pln[rj for ac11v. the Tntees have cxjnslderallon trj general guidance published by the Chadty Comm1881)n MlatlThJ to tfil thè guld•nc8 'Publlc benèfft: Nnnlng a charty (PB2)'. b. Maln acthillles mItak• to fvrth•r th• pury>oMs ft th• publ1¢ l>•n•fft Duflng the period o)¥erèJ by this report the Crt¥M19è Educat#M and Dovelotthent Tt (CEDT) ¢4ntinued to oversè& its whcAly oad subsidHry. CATS Step Lwnitod (CSL). The purFh)Sg of CSL to daveknp and markat English laNJuage lewwng soliware (wewusly <tsvdopod by Charftyl a not-foryitht basls, In developlng couthgs. and elsevtherg. Al Sur9$ wll bg rwotted lo CEDT, to enable CEDfs chartlable ACHIEVEMEKfs AND PERFORMANCE Tha Charity cOnnd to ovetsee and SUPFJt CSL. sold the IP in CAT$ Slep (an English Language learning softwarè programme) to POO0rt Int8rnalional Lwnttod. a coryany basBd in C. Tho proc88ds arising on sale were £700.IXrf). T1 $ubsithary has retsined the rvjht to supply CATS Slep In Malays1& P•rfornw)c• •nd poslllon Gift aKl8d donat)n8 from CSL totakng £2(X).OLKI rerAr¥ed durng th8 y8w (2024: £Nil). Totsl exdItre Pagg 2
CIJABRIDGE EDUCATION AND DEVELOPMENT TRUST TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 JVLY 2025 amunted to £103.15212024.' £5.2931. Grants lorVj £11Y).¢MI w¢re commiiièd durlng th6 ytar (2024.. £NIL). The nel surplus was £,848 (2024 k)ss- £5,293). At Ihe year end. unT8slrict•J furKls wore £95.6(M) in surplus12024: £1.248 deficlll. b. ReMr¥o1 poIIcy The Trustees maintain reser to manage UnexCle Ilu¢lu8tions in incomg and gxpendilure. The pollcy of the charity is lo maintain suffic4ent reserves to fund 12 nMths' support and govemance exp8nditure Itargel rang8 of £1.500 10 £2,000). Reserves aMCnted to £95.600 at the èThJ. above targellgvel. In thg clrcumstances descrJed beknl, the Resonles PoliGy is exFGted to be redwKlanL Golng Concern At the erMI of thjly 2025, the Canrfdge EdlKaI and D8¥elw8nt Tntst (CEDT) had nat assets of £95.61KJ. 118 its wholty ownad SS1(ary. CATS Step Ltd ICSLI. had nat assets of£256.273. In August 2024, CSL tId CATS Slep soft¥rnrg intolgcw woperty to Peoplecert InteMaOnaI Llmked for £700.000. The Dlrectors of CSL had intend8d to ewoit the CoMpanS right to suppty CAT8 8oftw8re In Malay8ra. Howavef. after diligent attempts to do so, the Direct5 had ccwKluded that the prospect of achlevlng $uth eXploitan had substsnlially ev8pornt6d. Hypothetically, such an opportur4ty might aris8 in tho fLrturg. If so. any r8maning IP rights VAI te available to the CEDfs knnding charfues, Th8 Malalan Commonwealth Studles Centre in Combridge IMCSCI andlor the Clrid Malay3ian Education and D8velokNnenl Trust (CMEDT), ts)se oblecls are ck)sety alwl lo of CEDT. Followng thè s•16 of the sc4bware. the Trustees of CEDT have c4)ncludgd that CEDT has no furthèr purposè whith rannot effiaentty putsued ty ICndIng charities: MCSC and CMEDT. Thgy have therefore resolved Ihat CEDT sh)uld be T1Url up and $ remaining assets be transferred to MCSC. Th8 proc8s8 of wiThJhYJ up CEDT Is ex4ctsd lo be comp4oled durfrwJ 2026. Accwlingty, tho finarKo1 statements have not been prepared on the 9t rthm ba. STRVCTURE, GOVER14ANCE AND MANAGEMENT a. ColItUtIOTr The Charfty is reg18 as a charitatlo C1panY h'mit8d by guaranteg and was set up by a MOrandM of A8allOn on 17 Febnjary 2017. Tho Charlty Is a rlwed clwitywith nwnber 1172623. The prfndpal oblgct of Ihe Chaiity 15 to the •j¥•KenI (rf edu¢alh)n for banefft of the publ. b. Methods of appolntmont or olgctlon of TnMle•s The management ol the Chwlly Is the r88WmtlMy of lh8 Tntst8es wtm) are 818Cted 8TrJ COwOPt8d urbdor the ternis of the Article5 of AssorAathJn. ¢. Ory•nl¥aUonal stru¢tur• •nd dd$kakng pollGI•• All dedsions made by the Charity are made by the Trustees as a thobè. There Is no execuVe managament commlttee delegated lo make dacisl)ns &s the Charlty th)8s not have any 8mployo8s. Pag8 3
CAMBRIDGE EDUCATION AND DEVELOPMENT TRUST TRUSTEES. REPORT (COPrnNUED FOR THE YEAR ENDED 31 JULY 2025 STRUCTURE. GOVERNANCE AND mANAENT (COIrnNUED) d. Pollcl•s adopt•d for th• In(hKllon trnlnlng alTrust••8 New trustees are fully briefed by the other trustees on th8 polk?es and strategy of th8 Charity. Thay also •. Trust•es The Truste who semd durfThJ the were: Mr Jefemy Powys Capmr Dr Anll Seal Mr Henry Sackwlle Badcrm Professor Sir Mark WgllarKI Professor Deepak Naw STATEMENT OF TRUSTEES. RESPONSIBILrrES Thg Twstees {wlKI 8re also the direct$ crf ts Charity fcr th& PLwposes of coMpY 18w) are responslble for preparlng the Trustses. RekX)rt and the ffinar statements In acc(Ydance wth appllcable law and Unlted Krydom Acmunling Stan¢Jards {UIMted GonBrnlAcX8ptod Aettnting Praclice). Company law requlr88 the Truste88 to weparn statements for 8h finandal . Lknder MpanY law. the Trustees must not approve the finartial ststements unless they we satisfi•J that Ihey gNe a true and falr view of state of affai of the Charity and of rts incoming resources and aFplution of resourc85. induthng its InMe and expenditwe. for that perxl. In prgpariry fttwK401 slatW7wnts. ts Tnth 8ro rewlr8d to: 8018ct suitabl8 accountiThJ polrcies and th8n appty them nSIstenty. observe the methtsjs and prindples ofthe Charities SORP (FRS 1021: make judgements and acLynkng eslimates that arn reasonable and wudon( state lthether appllcable UK ACCnI9 Standards (FRS 102) have been folknved. 8thle( to materlal departur6s disdosed and éxpianed In the fmKial StateMts., prepaR the finclaI statements on the concm basls unths ft Is InaN)ropvlate to kyesume Ihat th& Chadtywll ContIn In bus Th8 Tfustees are f8SP)nsible for ke8wKJ adequate rac¥>rd8 that arn suffidont to and expl•ln the Chariws transactK>ns and disck>s• wilh r8#sonabl8 accuracy at timè tha financial posilion of the Charty and onable Ihom to that the fmanL¥al statements cunpty ryth the Companies Act 2006. They are also reS51b10 for safeguarding the alS of the Ch hence for taklw reasonabl8 sty for the prevgntlon and dotection of fraud and oth6r irrngularitkn. Approved byothrof the meners ofthe both of Tntstees slw (m thetr bghaw ty. Mr Jeremy PO Carvor Trustse Dat8: 05 May 2026 Pa98 4
Oouokjn ID.. D0ElE12F497E.l4899I8E8 CAMBRIDGE EDUCATION DEVELOPMENT TRUST (A Lknlt•d by Guarant••) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JULY 2025 INDEPENDENT EXAMINER% REPORT TO ThE TRUSTEES OF CAMBRIDGE EDUCATION W40 DEVELOPMENT TRUST llho Charltyj I report to the charlty Trustges my examinat•Jn of Ihè attnts ofthè Charbty for the ar onded 31 July 2025. RESPONSIBILMES AND BASIS OF REPORT As the TruStS crt the Chadty ( h dIre¢$ wrp058s of c(ryany law) are re8w)nslble for Ihe preparation ofthg accounts in accord wilh the requlrth)1gnts d the Comparmes Act 2tsJ6 fthe 2006 AL). H8¥kng satlsfied mswlf that the accounts of the Chwity ¥e rMIt Uired to be audlted wder Part 16 oftha 2006 Act and are elKJlble for Indep•ident examination, I reF¥)rt n resp8Ct of my examination of the Charttys accounts carrbBd out und6r seclion 145 of the Charflles 2011 {Ihe 2011 Acy). In caThying out my examinalion I havg followed the Directions gven by the ch urtder So0n 1445)Ibl of the 2011 Act. INDEPENDEKt EXAMINERE STATEMENT I h8v8 ttJmplet8d my eXarrnalljn. I draw Vr attention to th8 Trustees, Report and note 2.2 of th8 financial statsments, wN¢h explaln the TrIle8$. to dose the durng 2028. Ard1ngty, thg accounts havo been prepared on the basls that are not a giyng No Jjuslment has b88n mado as a result. I c(mflrm that M other matters hava come to my alten1 In c(nect wlth the examlnation gr¥ing mo cause to beleve.. att¢unn9 r8c(Yds were not kepl fft respgca of lh• Charity as required by secllon 386 of Ihe 2C(18 ACL. or the pLcounts do not accord wlth Ihose rnc(rfds" the accounts do not comply with the actng requlrnmonts of section 396 of th8 2006 Act other than any requirement that th8 accounts give a Irue aThJ faif view whkh Is not a mattsr c4)n$idered as part of 8n kndepe1ent examlnalv)n'. the accounts have not been wepared in acrthanc¢ with Ihe methcds and PTinciples of Ihe Statemgnt of Recommended Practice for accoun¢Y reporbrvJ by ¢haiitigs applcable to charffjes waparlng thelr ants Hi a¢o)rdance wlth the Flnandal Rewthg St¥Klard applicabl8 in th8 UK and Republlc of Ireland {FRS 102). Thls ret Is mode sdety to thè Charitys Twstees. as a ty. In accordance vlth P¥t 4 of the Charities (Accounts and Reports} RegUlabO 2008. Nty ¥wrk has begn Undertak so that I mlght state lo th8 Charitys Trustees those Matte l am requSred to stsle to them Indep8ndont Examinerfs Report and for no other purpose. To the fullest extsnt pemiitted by kn. l aept or assuffK responsibility to any)ne other than the Chadty and the Charitys Trustees as a txjdy. for my wcrfk or for this rnporL SIgn. Nl(ki Loan (FCAI PETER8 ELWORThY & MOORE Charterg(l Accountants Sallsbury Hou Station Road Cambridg8. C812LA Datgd: 05 May 2026 Pag6 5
Doux&Jn ID.. OtE1E5Fth13A-162F437E-XF148994 CAMBRIDGE EDiICATKIN AND DEVELOPMENT TRUST (Acompary Lknltsd by Guaranl••l STATUIENT OF FINJNCIAL ACTMTIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 202S T+Jial funds 2024 nds 2025 fimds 2025 INCOME FROM: Donauo 200,000 200mD TOTAL INCOME 200.000 200,000 EXPENDITURE ON: Charftablè advlties 103.152 103.152 5.293 103.152 103.132 5.293 NEf MOVEMENT IN FUNDS 96,848 91848 15,293} RECONCIUATION OF FUNDS: Tcrtal funds brought fovward Nat mov8m&nt in funds {1248) (1.248) 9¢848 4.045 152931 TOTAL FUNDS CARRED FORWARD 95.600 9&600 {1.2481 The Staiem8nt of Finaniial kbvths wKkKI85 all galns and kisses rISed In the >wr. The notes on pages 8 to 13 forn) part of these rm811 statem1$.
ETheh)pe ID.. tK>EIEASF413A462F437E.2tF14B994BEB CAMBRIDGE EIXICATION ANO DEVELOPMENT TRUST (A Company Llrnlt•d by Guarant•o) REGISTERED NUIIBER: 10626985 BALANCE SHEEr ASAT 31 JULY2025 2024 FIXED ASss Investsnents 100 100 CURRENT ASSETS Cash at bank and in haTr CURREwf LIABILITIES 101542 5,544 Crgjitors.. amounts falliTr3 due hlthln one ar .044 (6.892) NET CURRE1 SETs I LIABILITES 94500 (1,348) TOTAL NET LIABILMES I ASSETS 95,600 (1,2481 CHARITY FUNDS UnStriCted funds 95.6110 {1.2481 TOTAL FUNDS 112481 Th8 Charltywas entlll8d to examp1h from alIt under section 477 of the compa P£t 2006. Tho members have not re(wired the ctynpany to (Aain an ajit for Ihe >vr in question In aCCdanCe llh se¢tion 476 of Companles Act 2W6. Thg Trustees athnowledge their re$W[blIas for the requirem8nts of the Ad with rOsrt lo accounting records and preparatbjn cl financi slat8m8nts. Th8 thanclal statem8nis have boon prepaTrd i) )darIce wllh the Prov$ appkatde lo entitbes subj¥t to the smal companies regirn. The fin8nclal ststements ap and aLffi1 for issu8 byth6 Trusts•$ arm1 skjned on thelr behalf by.. ycaw Mr Jer•my Ptr*y• Camr Tru•tO9 08te.. 05 May 2026 The nc40s on paggs 8 to 13 form part rltheso finorKiI Staternts. Page 7
Docu$ EnlOPl Tr. ODE1EA5F-AI&4-e62F7E-2[F148sW8 CAIIBRIDGE EDUCATI(IN DEVELOPMENT TRUST NOTES TO ThE FINANCIAL STATEMENTS FOR TIE YEAR ENDED 31 JULY 2025 GENERAL INFORMATION The Charity is a wivate (y)ryany knited by guarante8 and incorporatod in England arKI Walgs. Thè members of the Charity are the Twstees named on p4e 1. In the event of the Charity being wound up, the liablty in rgspod ofth9 gte8 to £1 pw ofthe Chwlty. The flcOnal and presentaknl (wrreKyof Is G8P. ACCOUNTING POLICES 2.1 BASts OF PREpoN OF AIIANC STATEPAENTS The ffnanclal Statem have ba8n wapared in with th8 Charitl8s SORP (FRS 102) . AccOLnur a1 ReFK)rtkng ty Charltles: Statement of Rec4Jnmended Pra¢Alce aN)Ilcable to charfues eparfry their 8ttounts in aCCp)rdance with the Financial ReFMlrtwig Stsndard applicable In the UK and R6publlc of IrelarKI IFRS 102) {effeclive 1 January 2019), the Flnancial Reporung Stsndard applicabl8 th8 UK and R8wbk Ireland (FRS 102} th8 C(ryanl8s Act 21x16. Cambri(hJa Educalkin and D8v8Wn8nt TTht m8ets th& d8fmition of o PUt4ic bonafft 8ntlty undar FRS 102. aThJ kabilllles we knltiaty recogrsJ at hIstcal c£t or transactlon value unl888 otherwlse stated in the relevant wxunlkng pfAIcy. The Charws ohrd subs¥. CATS Step knmrted (CSLI. arKI CarnbrMl98 Educallon and Develcyment Twst have tfAal IncLYM of less than £1m and therelm th6 Chaiity has not prepwed ¢onsolidaled accounts. Other than the basls of KKeparalhJ) bekng rKJt on a bag18 of ooing C¥)ncam as deXbed In nots 2.2 below. thore wwe no signthant eslimat8S Of other judgments made by management in i)reparing these financial SLn. 22 GOING ¢ON¢ERN Al the end (rf Juty 2025, the E(kKakn aTrJ De¥glopment Tntst (CEDT) had net assets of £95,600. whlle rts VItlY ty•med CATS Stsp (CSL). had n8t assets of £256,273. In August 2024. CSL sokl G4Ts Stap sdlwar8 propwty to PeoplaC8rt Inlernallonal Llnmied lor £700.(1. The Dyecbrs of CSL h&J intended to explolt the corrpanls rlght to suptAy CATS sofhyaro in Maa>sia. H(Mww. after thg8nt attampts to th) so, the Diractors had conduded that the prospect of acNevkng such expkAtatk)n hJ SnI1 8vaporalwJ. HypothdcalW, such an OPpUn1ty mlghl arlse in the ftrtLwe. If $0. any remaining IP lights will be avaifable to the CEDTS founding charitss, The Mdaysian Comrnnwealth Studies Centft i) Canl)ridg¢ (MCSCI andlor the Cambridge Malaysian EducalTh and Dovwt Tntst (CMEDT). obi8cts ara cb)saty aligned to those cl CEDT. Follwng the sale of the sollwarn, the Truslees of CEDT have conckNJed that CEDT has no further purpose wblch cwnot more effiatty pUtsd by its foLmdirwJ tharities: PlCSC and CMEDT. Thèy have thorefcm re801v&J that CEDT 8lknJ be aThJ Its remalnlry ass6ts be transferred to MCSC. The Fyocess ofwhKling up CEDT is expgded to compld 2026. Accordln¥y. thg finarthl statements have baen preped on the gokng c#)rKem basis. Pa9è 8
Do¢us¥n En¥ ID: DDE1WFA13A-862F-e37E.>14B99IBEB CAMBRIDGE EDUCATION ANO DEVELOPMEwf TRUST {A Umlt•d by Guarath) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 ACCOUNTING POLICIE8 (CONTINUED) 13 INCOME All knccne Is rec(KJrdsed once th8 Charlty has entidement to the Inccrfne, It Is prob8ble Ih8t the Income will t reI¥•d and the am(xmt of income re1¥ can bo mèasured relably. Grants are induded n tho Statement of Financial Act* on a rec8Nabla basis. The balancè of Income recefved for speclfic PwpO but not expendgd durfTrJ the periLwJ is shovm in thè relevant funds on th8 BanCe Sh86t. Where incomè is raceivod in a¢fvanc8 of 8nt(tlemenl of rac8ipl, its recognition bs deferred and indud8d n fftdilots 48 dafvrr¢d Irthme. Whera entill8m8nt occurs b8lore income is recved, the income is accrued. Income from donalloThs is recowl8ed Imnwd• upw rec•ipL 2.4 EXPENDrruRE Expenthlurn is recognised once there is a legal ¢y constructive obligation to transfer eCAorn benofil to a Ihyd party. it is wobable that a transfer of economK beTrgfits will t¢ requre(l in settbemenl and the amount ofthe obl1gon can bo moasurnd rnI8bly. Support costs are those directy In supp of experKllture on the objects ofthe Chadty. GO¥eMan costs are Inrred in comectbon T adMinistratn the Charty and ¢omOance with constilulK)nal arKI statutory requirenwts. Charitablo &tsviU88 and o)vemanc8 Costs are Ixsts Incurred C the Ch8rWs op8ratlons, Indudlng support costs and costs relating to govemance of thè Charity allocated to charltabse a¢dlIes. ExpendIrg on charrfth is irKurrgd on dirocty undertakiry the athibes fvrthèr the Charitys Objwl¥9$, as well as any &ssociated suppcrt C4)sts. Grants pay8ble are charged wi the when Ihe offer is made exc•pt In th088 cas88 where tho offer 18 tnd1110nd1. suth gtS being recogimsed as expenditure thtbèn the nditIOnS attachlng are fuffllled. Grants offered suty'ect to conditk)ns have not been met al th8 year end are noted as commllment, Lxrt not 8(xrued as eXKre. l exp8ndiiur8 is Indusr¥e of irrown VAT. 2.5 INVESTMENTS Inveslments In subshllarl8$ are vahAd at cost Itss Impalrmgnt. 2.6 CASH AT 8•24K W40 W HID C8sh at bank ar¥J in hwd inctudes ¢xsh and short-term hbjhly liquid inv8stmonts wlth a short maturity of three months or less from the date of wulsllkn or ¢)panlng of the dewsll or 8lmll8r accounl. Pagg 9
CJA8RIDGE EDU¢AnoN AND DEVELOPMEKf TRIIST (A Conwwhy Umlt•d by fAw•nle•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 ACCOUNTING POUCIES (COI1uED) 2.7 LIABILITIES AND PROVISIONS Uabllluos are rocognisg(I vthen there is LJhgation at Balance Shegt dato a$ a of a past event, il is probable that 8 trOfer of benefft w1 raquir8d ITh Settlnant. aThJ th8 the SeltIenrt cen be eSrnated rellabty. Liabilibes are rectynised at the that the Clwlty antl(xpates li wll pay to 80th th8 d8bt or the 2.8 FINANCIAL INSTRUMENTS The Charity On has f)81•1 a88ats fMKAal I11118$ of a klnd that quaufy as baslc financlal Inslrumènls. Baslc finanud Instrunertts We initially fectsjnised at transactlon va8 and 8ub8equ6nty moasurod at Itir setuomgnt ¥aJ0 wAh tho excepn of bank loans whith are sub8equontty measured at aty11 cost USI the effeciNe inlerest mets¥)d. 2.9 FUND ACCOLINTING General funds are luThJ$ thlch are wAllabl8 for u8e at the dlscrekn of the Trustees tn rthèranc8 of th8 general obiectNes of Charity aThJ vthi¢h ha¥¢ not been dèsignatèd for othèr INCOME FROM DONATIONS Totsl fund• 2025 fund• 202S 2024 Donatkins ANALYSIS OF EXPENorruRE BY ACTivrrEs fundkng d Support ¢osts 2025 Total funds 2024 funds 2025 2025 EdLKation 3.152 103,152 5.293 TOTAL 2024 5293 5,293 Pago 10
LkJ¢u$n En¥eW cQÉlE5FAI3m63TE.2QF148991BE6 CAMBRIDGE EDIICATION DEVELOPMENT TRUST (ACLxnpany Umlted by ¥•no} NOTES TO THE FIN4ClAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 ANALYSIS OF EXpENDuRE BY ACTNMES (CONTINUE0} J4ALYSIS OF SUPPORT COSTS Totsl nds 2025 Total funds 2024 Bank charges A¢ty)untsnwfees (govamance) 3,150 5,292 3.152 5.293 All expaThJtturo in 2025 12024 was unrestrhxed. ANALYSIS OF GRlT5 Grnnts Instttutlons 2025 Total funds 2025 Total funds 2024 Grants 1LMJ.QIXI 100,0110 2025 2024 Grants io In$lltIOnS combgo m8laytsl Educakn and De¥dopn Tntst 100.000 INDEPENDENT EXAMINER REMUNERATION Tha Indepandgnt exarThnerfs reMthwa1k amounts to an independent examln8r fee of £1.050, a ststuw accounts prepwation fee of £1.050 arKI a LWOratl tax compllanco fee of £525. The 31 July 2024 a¢Thts V•pre nol axaffd betsuso tolal inm was beSyw the indepgndgnt owlnation threshold. TRUSTEES REIAUNERATION lD EXPENSES Duriry the yaar. no Trustees rncebmd any reMurat or othèr b8frts in conn11)n with thelr dutl8S as Trusle8s (2024- £NIL>. Dur the year ended 31 JY 2025. T Trltea expe8$ have b8on Ired {2024. £NIL). Pell
ErNolow ID.. DDE1EA5F4132F-837E->JFlI8g948E8 NOTES TO THE HNANCIAL STATEMENTS FOR YEAR ENDED 31 JULY 2025 FIXED ASSET WVESTMENTS Inv••tment• In ¥ub8ldl8ry mp•nlo$ COST At 1 August 2024 100 AT 31 JULY 2025 100 NET BOOK VALUE AT 31 JULY 2025 1(Kl AT 31 JULY 2024 1¢XI PRINCIPAL SUBSIDIARIES The follovAng was a subskliwy urtak ofth8 Charity. Namo ny R•glst•r•d olllc• or prlnclp•l Cl•M of Holdlng numb•r plx• ol busln•s• shares CATS Step LIMI 13262550 11 Madkny Road. Camtrfidge. Ordinary 100% United Kknn. C83 OEG The flnanclal results ofthe subskkny frthe wwe: N•t th• y•ar CATS Step Llml 485.185 257.181 Page 12
DoTr Env•1) ID.. DDE1EA5FAI&A462F437&XF14B991BEB CAMBRIDGE EDUCATION AND DEVELOPIIENT TRUST (A Company Umlt•d by Guarnnlo•1 NOTES TO THE FINANCLAL STATEIIJENTS FOR THE YEAR ENDED 31 JULY 2025 CREDITORS: AMOUNTS FALLING DUE VITTrIIN ONE YEAR 2025 2024 Twade ueditors Other credKors Accruals 3,792 100 3,000 3M92 3.150 7.042 6,892 10. RELATED PARTY TRANSACTIONS During the par. the Charrty made a to cdge Malayslan Educ8kn and Development Trust ICMEDTI. ofwhith Henry Barklw and Jeremy Camr are corrwrK trustees. of £100,000 (2024: £NIL). Other credltors consists of a £1LK) b8lwKe lo MalasFian cOmralth Slu(ties Centre (MCSC). balng the Investment Ni CAT8 Step knmlted by PKSC on th8 Charitys behall. Olhar cr8ditors also inGlude$ a balance of£3.792 iywed to MCSC in resFct of an Invok% settled on behalf of the ChaAty. The Charity recglved a frn CATS Step Lwnileil. tts tlY ¢yhnsd subshyiary. of £200.OC {2024= £NIII. Durfng th8 year. CATS Step Llmited paKI £93.7(h) to Dr Seal ITntsto8) ILY th8 provision ol consuliancy services12024: £84,500}. At the yaw*nd. CATS Slep Lwnited thved £Nil to Dr Seal in respect of those servlces {2024.' £8.1N)o). Thèr6 Voyre no other disclosablè related partytransadKth the period (2024.. NOM). 11. POST BALANCE SHEET EVEp¥rs Following the dèvelopment and sale of thè Cats Stsp sOftr8 drj tha year, th8 Droclors of CSL resolved on 11 2026 to vrind up the Compary. Tr Diractors expect that the pr<)cess of wlndlng up the Company Mfjll be rx)mpl8ted thring 2026. kny reMaing assets of the Company. induding intellectual property of onty nomlnal value. VAI be ISferred to its parent. CEDT. The Trustees of CEDT havg subsequently $0 cffiduded Ihat CEDT has Th) further purpose whith cannot more 8ffi¢Sently be pursued by its founding charitios". MCSC and CMEDT. Thoy therefore resolved that follovArKJ the transfèrs Irom thot CEDT Should be up and its r0Mww as$0ts b8 translerr8d to MCSC. Page 13