I)￿u￿9￿ Erwew ID.. 0DE1EASFA1l￿2F437E.￿14B99IB￿8
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

c￿lBRIDGE EDUCATION AND DEVELOPMEKf TRUST
(A Compwy Lhrf10d ￿arante•l
R•hr•ne• •KI *Aknlnlslrnllv• D•lall• of the C￿rfty. Its Tnmtses and Adv1￿1$
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 ￿)mIN￿STRATIvE 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
nUrn￿r
1172623
R•glstthd offlce
11 MadIng￿Y Ro•1
Cambridge
CB3 OEG
Indopandant Examln•rn Peters Ek￿rthY & ML￿0
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 A￿ust
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 St*ement of Re(Thimended Practice ISORPI applicable to
¢harili¢$ weparing their a¢￿Unts in ar￿dance *ith ￿ F￿an(la1 RowbrtirvJ SlaTrJard applica￿9 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 m￿lurn and large compani8s under the C￿188 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 sc*v)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 d￿￿o￿￿ent of oSlaLMifalive iiitialives betlveen suth ￿1Ve￿Ille8 and $imilar institutions of higher
education Wb the Commonwealth partiaAar but not limit8d to PAalaysia) and boyond. for tha advancAm8nl of
knovAedge for the benefit of the peoples of tlw parbGLtsr n**)ns. There is a particular emphasls on educatS0n,
hgalth aThJ ggngral w*ro prLwnpted by suslalnablg dovdoyrn
In seltlng ot4ectlves 8rn1 pl￿n[r￿j for ac11v￿*. the Tn*tees have cxjnslderallon trj general guidance
published by the Chadty Comm1881)n MlatlThJ to t￿￿fil thè guld•nc8 'Publlc benèfft: Nnnlng a
charty (PB2)'.
b. Maln acthillles ￿mI￿tak•￿ to fvrth•r th• pury>oMs ft* th• publ1¢ l>•n•fft
Duflng the period o)¥erèJ by this report the C*rt¥M19è Educat#M and Dovelotthent T￿￿t (CEDT) ¢4ntinued to
oversè& its whcAly o￿ad subsidHry. CATS Step Lwnitod (CSL). The purFh)Sg of CSL to daveknp and markat
English laNJuage lewwng soliware (wewusly <tsvdopod by Charftyl ￿ a not-foryitht basls, In developlng
couthgs. and elsevtherg. Al Sur￿9$ wll bg rwotted lo CEDT, to enable CEDfs chartlable
ACHIEVEMEKfs AND PERFORMANCE
Tha Charity cOn￿n￿d to ovetsee and SUPF*Jt CSL. sold the IP in CAT$ Slep (an English Language
learning softwarè programme) to POO￿0rt 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 ex￿dIt￿re
Pagg 2

CIJABRIDGE EDUCATION AND DEVELOPMENT TRUST
TRUSTEES. REPORT (CONTINUED
FOR THE YEAR ENDED 31 JVLY 2025
amunted to £103.15212024.' £5.2931. Grants lo￿rVj £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 Unex￿Cle￿ 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 aMC￿nted to £95.600 at the èThJ. above targellgvel. In thg clrcumstances
descr*Jed beknl, the Resonles PoliGy is exF*Gted to be redwKlanL
Golng Concern
At the erMI of thjly 2025, the Can*rfdge EdlKaI￿ and D8¥elw8nt Tntst (CEDT) had nat assets of £95.61KJ.
118 its wholty ownad S￿S1(￿ary. CATS Step Ltd ICSLI. had nat assets of£256.273.
In August 2024, CSL t￿Id CATS Slep soft¥rnrg intolgcw woperty to Peoplecert InteMa￿OnaI Llmked for
£700.000. The Dlrectors of CSL had intend8d to ewoit the CoMpan￿S right to suppty CAT8 8oftw8re In
Malay8ra. Howavef. after diligent attempts to do so, the Direct￿5 had ccwKluded that the prospect of achlevlng
$uth eXploita￿n had substsnlially ev8pornt6d. Hypothetically, such an opportur4ty might aris8 in tho fLrturg. If so.
any r8maning IP rights VAI te available to the CEDfs knnding charfues, Th8 Mala￿lan Commonwealth
Studles Centre in Combridge IMCSCI andlor the C￿l￿rid￿ Malay3ian Education and D8velokNnenl Trust
(CMEDT), *ts)se oblecls are ck)sety alwl lo of CEDT.
Followng thè s•16 of the sc4bware. the Trustees of CEDT have c4)ncludgd that CEDT has no furthèr purposè
whith rannot effiaentty ￿ putsued ty IC￿ndIng charities: MCSC and CMEDT. Thgy have therefore
resolved Ihat CEDT sh)uld be T1￿Ur￿l up and *$ remaining assets be transferred to MCSC.
Th8 proc8s8 of wiThJhYJ up CEDT Is ex4*ctsd lo be comp4oled durfrwJ 2026. Accwlingty, tho finarKo1 statements
have not been prepared on the 9t￿ ￿rthm ba￿.
STRVCTURE, GOVER14ANCE AND MANAGEMENT
a. Co￿lItUtIOTr
The Charfty is reg￿1￿8￿ as a charitatlo C￿1panY h'mit8d by guaranteg and was set up by a ￿￿MOrand￿M of
A8*￿allOn on 17 Febnjary 2017. Tho Charlty Is a r*lwed clwitywith nwnber 1172623.
The prfndpal oblgct of Ihe Chaiity 15 to the •j¥•Ke￿nI (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 d*d$k￿￿￿a￿kng pollGI••
All dedsions made by the Charity are made by the Trustees as a *thobè. There Is no execu￿Ve 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 mANA￿ENT (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 coMp￿Y 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 GonBrnl￿AcX8ptod Aett￿nting Praclice).
Company law requlr88 the Truste88 to weparn statements for 8￿h 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 In￿Me
and expenditwe. for that per*xl. 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 acLy￿nkng eslimates that arn reasonable and wudon(
state lthether appllcable UK ACC￿nI￿9 Standards (FRS 102) have been folknved. 8thle(* to materlal
departur6s disdosed and éxpianed In the fm*Kial StateM￿ts.,
prepaR the fin￿claI statements on the conc*m 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
reS￿51b10 for safeguarding the a￿lS of the Ch* hence for taklw reasonabl8 sty for the prevgntlon
and dotection of fraud and oth6r irrngularitkn.
Approved byothrof the men*ers ofthe both of Tntstees slw (m thetr bghaw ty.
Mr Jeremy PO￿ Carvor
Trustse
Dat8: 05 May 2026
Pa98 4

Oouokjn ID.. D0ElE￿￿1￿2F497E.￿￿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 att￿nts ofthè Charbty for the ￿ar onded 31 July 2025.
RESPONSIBILMES AND BASIS OF REPORT
As the TruSt￿S 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 So￿0n 1445)Ibl of the 2011 Act.
INDEPENDEKt EXAMINERE STATEMENT
I h8v8 ttJmplet8d my eXarr￿nalljn. I draw ￿Vr attention to th8 Trustees, Report and note 2.2 of th8 financial
statsments, wN¢h explaln the TrI￿le8$. to dose the durng 2028. A￿rd1ngty, thg accounts
havo been prepared on the basls that are not a giyng No *Jjuslment has b88n mado as a result.
I c(mflrm that M other matters hava come to my alten1￿ In c(￿nect￿ wlth the examlnation gr¥ing mo cause to
beleve..
att¢un￿n9 r8c(Yds were not kepl fft respgca of lh• Charity as required by secllon 386 of Ihe 2C(18 ACL. or
the pLcounts do not accord wlth Ihose rnc(rfds"
the accounts do not comply with the act￿ng requlrnmonts of section 396 of th8 2006 Act other than
any requirement that th8 accounts give a Irue aThJ faif view whkh Is not a mattsr c4)n$idered as part of
8n kndepe￿1ent 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
a￿nts Hi a¢o)rdance wlth the Flnandal Rewthg St¥Klard applicabl8 in th8 UK and Republlc of
Ireland {FRS 102).
Thls re￿t Is mode sdety to thè Charitys Twstees. as a t￿y. 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 a￿ept 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.. OtE1E*5Fth13A-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 rm8￿1*1 statem￿1$.

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 ASs￿s
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
Un￿StriCted funds
95.6110
{1.2481
TOTAL FUNDS
112481
Th8 Charltywas entlll8d to examp1h￿ from a￿lIt under section 477 of the compa￿ P£t 2006.
Tho members have not re(wired the ctynpany to (*Aain an a￿jit for Ihe >vr in question In aCC￿danCe *llh
se¢tion 476 of Companles Act 2W6.
Thg Trustees athnowledge their re$W￿[blI￿as for the requirem8nts of the Ad with rOs￿rt lo
accounting records and preparatbjn cl financi￿ slat8m8nts.
Th8 thanclal statem8nis have boon prepaTrd i) ￿)￿darIce wllh the Prov￿￿$ 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 Statern￿ts.
Page 7

Docu$￿ En￿lOPl Tr. ODE1EA5F-AI&4-e62F￿7E-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 g￿￿te8 to £1 pw ofthe Chwlty.
The fl￿c￿Onal and presentaknl (wrreKyof Is G8P.
ACCOUNTING POLICES
2.1 BASts OF PREp￿￿￿oN OF AIIANC￿ STATEPAENTS
The ffnanclal Statem￿ have ba8n wapared in with th8 Charitl8s SORP (FRS 102) .
AccOLnur￿ a￿1 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 TTh￿t m8ets th& d8fmition of o PUt4ic bonafft 8ntlty undar
FRS 102. aThJ kabilllles we knltiaty recogr￿s￿J at hIst￿cal c£*t or transactlon value unl888
otherwlse stated in the relevant wxunlkng pfAIcy.
The Charws ohr*d 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 deX￿bed In nots 2.2
below. thore wwe no signthant eslimat8S Of other judgments made by management in i)reparing
these financial SL￿n￿.
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 VIt￿lY 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 h*J S￿nI1￿ 8vaporalwJ. HypothdcalW, such an
OPp￿Un1ty 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 effia￿tty ￿ pUts￿d by its foLmdirwJ tharities: P*lCSC and CMEDT. Thèy
have thorefcm re801v&J that CEDT 8lkn*J be aThJ Its remalnlry ass6ts be transferred to
MCSC.
The Fyocess ofwhKling up CEDT is expgded to ￿ compl*d 2026. Accordln¥y. thg finarthl
statements have baen prep*ed 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 kncc*ne Is rec(KJrdsed once th8 Charlty has entidement to the Inccrfne, It Is prob8ble Ih8t the
Income will t* re￿I¥•d and the am(xmt of income re￿1¥￿ 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 B￿anCe 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 rec￿ved, 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 eCA￿orn￿ benofil
to a Ihyd party. it is wobable that a transfer of economK beTrgfits will t¢ requre(l in settbemenl and
the amount ofthe obl1g￿on can bo moasurnd rnI8bly.
Support costs are those directy In supp￿ of experKllture on the objects ofthe Chadty.
GO¥eMan￿ costs are In￿rred in comectbon T￿ adMinistrat￿n ￿ 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¢d￿lIes.
ExpendI￿rg on charrfth is irKurrgd on dirocty undertakiry the athibes fvrthèr the
Charitys Objw￿l¥9$, as well as any &ssociated suppcrt C4)sts.
Grants pay8ble are charged wi the when Ihe offer is made exc•pt In th088 cas88 where tho offer
18 t￿nd1110nd1. suth g￿tS being recogimsed as expenditure thtbèn the ￿nditIOnS attachlng are
fuffllled. Grants offered suty'ect to conditk)ns have not been met al th8 year end are noted as
commllment, Lxrt not 8(xrued as eX￿￿K￿re.
l exp8ndiiur8 is Indusr¥e of irrown￿ VAT.
2.5 INVESTMENTS
Inveslments In subshllarl8$ are vahAd at cost Itss Impalrmgnt.
2.6 CASH AT 8•24K W40 W H￿ID
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

C*JA8RIDGE 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 (COI￿￿1uED)
2.7 LIABILITIES AND PROVISIONS
Uabllluos are rocognisg(I vthen there is ￿ L*Jhgation at Balance Shegt dato a$ a of a past
event, il is probable that 8 trO￿fer of benefft w￿1 ￿ raquir8d ITh Settl￿nant. aThJ th8
the SeltIen￿rt cen be eS￿rnated 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*)8￿1•1 a88ats fMKAal I￿11118$ of a klnd that quaufy as baslc financlal
Inslrumènls. Baslc finanud Instrunertts We initially fectsjnised at transactlon va￿8 and 8ub8equ6nty
moasurod at Iti￿r setuomgnt ¥a￿J0 wAh tho excep￿n of bank loans whith are sub8equontty
measured at at￿y11￿ 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$*n En¥eW cQÉlE￿5FAI3m6￿3TE.2QF148991BE6
CAMBRIDGE EDIICATION DEVELOPMENT TRUST
(ACLxnpany Umlted by ￿¥•n￿o}
NOTES TO THE FIN￿4ClAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
ANALYSIS OF EXpEND￿uRE BY ACTNMES (CONTINUE0}
*J4ALYSIS OF SUPPORT COSTS
Totsl
nds
2025
Total
funds
2024
Bank charges
A¢ty)untsnwfees (govamance)
3,150
5,292
3.152
5.293
All expaThJtturo in 2025 ￿12024 was unrestrhxed.
ANALYSIS OF GR￿lT5
Grnnts
Instttutlons
2025
Total
funds
2025
Total
funds
2024
Grants
1LMJ.QIXI
100,0110
2025
2024
Grants io In$ll￿tIOnS
comb￿go 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 axaff*￿d betsuso tolal inm was beSyw the indepgndgnt owlnation
threshold.
TRUSTEES REIAUNERATION ￿lD EXPENSES
Duriry the yaar. no Trustees rncebmd any reMu￿rat￿ or othèr b￿8frts in conn￿11)n with thelr dutl8S
as Trusle8s (2024- £NIL>.
Dur￿￿ the year ended 31 J￿Y 2025. T￿ Trl￿tea expe￿8$ have b8on Ir￿￿￿ed {2024. £NIL).
P￿ell

ErNolow ID.. DDE1EA5F413￿￿2F-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 u￿rtak￿￿ 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 Madkn*y Road. Camtrfidge. Ordinary 100%
United Kkn￿n. C83 OEG
The flnanclal results ofthe subskkny fr*the wwe:
N•t
th• y•ar
CATS Step Llml
485.185
257.181
Page 12

Do￿Tr 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 c￿￿dge 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 cOmr￿alth 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 resF*ct of an Invok% settled on behalf of the ChaAty.
The Charity recglved a fr￿n CATS Step Lwnileil. tts *t￿lY ¢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 sOft￿r8 d￿r￿j 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 reMa￿ing assets of the Company. induding intellectual
property of onty nomlnal value. VAI be I￿Sferred 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