REGISTERED COMPANY NUMBER: 01799707 (Ertgland and Wales)
REGISTERED CHARrrY NUMBER: 289235
EP
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ASHFORDS
Choiteied Ceitlllecl Accounlonts
Registefgd Audltois

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Report of the Trustees
Report of the Independent Auditors
7 to 10
statement of Flnancial Artlvltles
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Balance Sheet
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Notes to the FlnJn¢l41 Statements
13 to 20
Detslled Statsment ol Flnanclal Actlvltles
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The trustees who are also directors of the charity for the purposes of the Companles Art 2006, present thelr report with the
financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provi510ns of Accountlng
and Reporting by Charities: Staternent of RecomJnended Practitr applicable to charities preparing their accounts in
accordance the Financial Reporting Standard appllcable in the UX and Republic of Ireland {FRS 1021 (effective l January
20191.
NAME CHANGE
rhe name of the charity was changed to Davenant Foundation on the 4th June 2025.
OBJECTIVES AND ACTIVITIES
Objertlves and aims
The charitys principal acÈfvitie5 durlng the year contlnued to be that of the provision of a communlty ￿ntre and making
grants f¢y the educatlonal and sodal benefits of the inhabitsnts of the London Borough of Tower Hamlets.
The community ￿fttr¢ locatbn Is 183-185 Whliechapel Road, LondL￿, El IDN. The charitles Sn occupaNon durfng the year
were..
11 The Ralnbow Centre, a registe￿ charity provldlng chlldren'5 playgroup services,
11) CGL, a registere(I tharity provldlng a range of treatment seNlces for drug and alcohcA related mlsuse.
The trustees consider that the Davenant Foundatlon Is achievin91ts objectlves through letting of the propety to the a￿ve
charSty tenants as well as by maklng grants to Indlvldvals and tenants totalllng É26,484 In the year12024 £52,827).
The trustees confirm that they have oiven due conslderatlon to the Charty Commis51on's wbllshed gUIdan￿ on Public
Benefit requlrernent under the Charitles Att 2011,
STRATEGIC REPORT
Flnanclal revlew
Prlncipal funding sourc•$
The Davenant Foundadon's maln Sour￿ of fundlng during the period was from rental Income derlved from the letting of Its
propeity to other charitSes. The rental Income for the year has gone down In the year due to the rent revSew carrfed out in
the previous year.
Reserve$ pollcy
The total Unrestricted funds at 31st March 2025 arnounted to £3,699,915 {2024 £3,721,103). These funds represent
surplusldeficit en the day-to.day attivitles of the charity.
The total Restritted fund5 at 31st March 2025 amounted to £2,550,000 (2024 £2,550.000). The restricted funds retkresent
the net bogk value of the freehold lancs and buikjlngs.
The propety revaluatlon re5erye included withln the total Re5tr4tted funds at 31st March 2025 amounted to £841,071 12024
£841,071}. These funds can only be used for any actt)unting adjustments In the falr value of the freehold prorErty.
The Re5trlcted fund5 cannot k used for the day-to-day artivities of the charlty.
Golng concern
The trustees have considered the golng concern ￿sItIon of the company and are satisfied that the company has sufficient
reserves to continue to operate for the immedlate future.
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STRATEGIC REPORT
Financial ieview
Summary of activlties for the year
The totsl income receivable by the Charity In the year amounted to £184,22512024 £281,149). The totsl expenditure for
the year arnounted to £132,814 {2024 £132,358). The net income for the year amounted to £51,44112024 £k48,7911. The
defftit mainly resulted from the decrease the rental income.
Prlncipal rlsks and uncertaintles
The Davenant Foundation uses income frorn the Community ￿ntre to make gRnts and increase its investment managed by
CCLA. The economic climate for the past few years has been difficult for tenant charltie5 generally who suNlve on donations
from the public or gront5 from other publlc bodies. If the tenants are unable to pay the rent on time or go into admlnlstration
or liquida￿on, the Davenant Foundatlon may have to draw dDwn futKls from Its deposit account and fts investments with
CCL4 for repairs to Its buildlng as and when they arise.
The c0mmL￿1ty tentre was built In 1987 and is In good condI￿On. The trustees have commlssloned a conditlon survey and
will embark on a maintenants programme from 2026 onwards. They consider that the funds held at the bank and CCLA are
suffident to meet the cost.
Revaluation of freehold property
The property was professlonally valued by Dobbln & Sulllvan, Chartered Surveyors durtng September 2019 at an open
market value of £2,550,000. The trustee5 are of the oplnion that this amount represents a fair value at the Balance Sheet
date.
STRucfuRE, GOVERNANCE AND MANAGEMENT
Governing docLrment
The company Is registered as a charltable company Ilmited by guarantee as set up in the Memorandum of Assoclatlon on 13
March 1984. The management of the company 15 the respon51blllty of the trustees who are elected and co.opted under the
terms of the Artbdes of Assodatlon. The Board of dlrectors is made up of the trustees of the Davenant Foundètion.
Recrultment and appolntment of new trustee$
The Board of trustees wlll ensure that any new appointments wlll have an approprfate mlx of buslness skills.
Organlsatlonal structure
The trustees are responsible for the overall management of the charlty. The trustees have appolnted a firm of chartered
Surveyors to manage the property and provlde administrative and financial Se￿1￿$ frorn January 2023. The trustees meet
regularly to revlew the activltles and financial perforrnan￿, They also meet on Informal basis as the need arlses. The charity
has no employees.
Inductlon and tralnlng ol new trustees
New trustees are made aware of their re5ponslbilities. This Indude5 an Introdurtion to the oblertive5, scope and policie5 of
the charity.
REFERENCE AND ADMINISTRATIVE DEfAILS
Registered Company number
01799707 (England and Wales)
Registered Charlty number
289235
Reglstered office
114-116 Goodmayes Road
Essex
IG3 9UZ
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EN
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THE
Trustees
J A Pulford MBE
G K Colllns (resigned 30.3.25)
Ms C A Rider Chaplain
M5 R Nlzamuddin Su5tainabillty Programme Manager
Ms T A C Baird Archltett
Company Secretary
Senior Statutory Auditor
Ashok Mukundlal Shah
Auditors
Ashfords Partnershlp LLP
114-116 Goodmayes Road
Ilford
Esex
IG3 9UZ
Bankers
Natlonal Westmlnster Bank PLC
Mile End Branch
Alblon Yard
3311335 Whltethapel R¢ad
London
EI IAU
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BACKGROUND INFORMATION OF THE CHA
The Davenant Centre was e5tabli5hed in a fortner GLC-owned building that was transferred by Grant Aid, along with land to
bulld the neighbouring Jaganori Centre, tr) the trustees of the Centre in 1984 by the fomiation of a Company Lirnited by
guarantee.
Durbng 2006, The Davenant Centre encountered significant Intemal managernent problems during a buildlng moderni5ation
projett, culmlThating In lengthy litigation prO￿edIng5 be￿een a number of former trustees and the management commlitee
(new trustees) re5uIUng In payment delay5 to the bullders, add￿lOnal lega15 c(Ists and interest payments Dn contrathal
A court order was subsequently approved in February 2007 setNng c*rt various £ondSb'ons Including the creation of a steering
committee c¢nsi5tln9 Df no more than 4 people to carry out the function of the management comrnthe to deal with all
matters arisiny from and relatiw to the flnanaal affairs and day to day business of the Centre.
Durlng 2007 and 2tNJ8, The Davenant Centre had serlous financlal problems resultlng (rom delays In completion of the
modernlsation prolect and the consequent loss of revenue from rental Income of the building. Thls led to the Centre
defatjlting on Loan repayments to its bank and the renegots'ation of the facllities.
In the early of 2009, London Borough of Tower Hamlets considered that there would be a very hlgh rlsk that a hlgh
prgfile community asset which had benefited from slgnifTcant publlc Investrnent, would be lost and adVan￿d furiher fundlng
facllitles in subordinatlon to the Natwest Loan facllltles, subject to a number of c¢ndltions,
As part of the financlal restructurlng, the Davenant Centre was taken intr) administration in July 2009. The Natwest Bank loan
terms were further rene9Otiated and the London Borough of Tower Hamlets advanced addltlc*nal fijnding faallt¢es to the
Centre. Four senlor offi￿r5 of the London Borough of Tower Hamlets were appolnted to the Board of trustees to ensure
corrert goveinance of the organlsatbon. A5 trustee5, they were required to take a dlslnterested vlew In the affalrs
independently from thelr responsibilitles as Councll offi￿rS.
From thls poSnt, the Davenant Centre embarked upon a buslness recovery process almed at ensurfng that It was able to pay
all oulgolngs from its Income and that the th bullding5 In it5 Portfollo remalned avallable for communlty use. The trustees
ensured that the Charlty'5 debt repayments were rnet on tlme and focused on reducing the total debt of the charity.
As part of th15 recovery proces5, in a bid to reduce the outgolngs, the trL$5tees dedded to change its business model from
lettlng of servlced offlces to granting leases to slngle occupier5 for propety. The buildlngs were let gut to M separate
charltles whose alms and objectives cOr￿tsted to those of the Davenant Centre.
Durlng the financial year 2016-17, The Davenant cent￿,$ prlorSty had b2en to attrart alteinatlve Income generaung uses for
183-185 Whltethapel Road, followlng the in501venq and subsequent closure of forrner tenanl Jagonari Wornen's EducatSon
Reseurce Centre (JWERCI at the end of August 2015.
At the beglnnlng of September 2015, The Davenant Centre granted a lease for the occupatlon of the rear nursery premlses
and ground floor offitss to Ralnbow House, a provider of important local chlldcare services. Efforts continued to brlng the
remalnder of 183-185 Whitechapel Road, comprising the first, second and third floor5, Into revenue eaming use. Thi5
included viewlngs by a number of commLtnity organisations and a feasibilty study undertsken in conjunttion with the Londc*n
Bomugh of Tower Hamlets for converting the space for use as an enterpr5se workspace ￿ntre. This would have been
dependent on grant fundlng from the Council's Wh￿chapel Regenefatlon tsam. The proposed grant was not sub5eouenUy
forthcomSng and the search for alternatlve tenants contlnued.
In November 2016, The Davenant Centre entered into a lease agreement with Lifrline, a national charfty whSch had bttn
awarded a dwgs recovery contraLt by the London Borough of Tower Hamlets, to occupy the three upper floors of 183-185
Whbtechapel Road. Because the building had been left in a somewhat rundown condition by JWERC, an extenstve amount of
landlord'5 work5 was iiecesskiry iu bring the bulldlng back into viublo ur￿.
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The Davenant Centre received notification on 2nd June 2017 that Lifeline had been pla￿d into receivership and of the
appDSntment of an administrator for Lifeline, to whom a clalm for the un￿ld funds was submthd. Subsequently the London
Borough of Tower Hamlets appointed CGL, a large national charlty ddivering slmilar drug recovery seNitrs to Llfeline, to take
over the projett. Under thls arrangement, CGL decided to continue dellvery of the drugs recovery Setrvl￿ from the buildlng
at 183-185 Whitechapel Road. CGL ha5 Sin￿ been occupying the premises under a Ilcense agreed with the receivers of
feline, who have continued to the pay the full monthly rent speLlfied in Lifeline'5 lease, tcs end of June 2D18. From July
2018, CGL have occupied the prernises on a liTrnse.
y mutual agreement, the Bangladeshs Drugs Projert who occupled 179-181 Whitechapel Road, terminated their Ica5e In
March 2018, due to their inabllity lo pay the rent and the premlses were let to YMCA George Willlam5 College, Snlually on a
license frotll 1st May 2018 and a 5 year lease from 1st August 2018. Followlng the Covid pandemlc the lease was rellnquished
at Its mld-point on 31 Juty 2021. The Davenant Centre was abte lo continue to maintain its liquldity over thls period and had
£55,447 at the Bank at the year"end12024 É84,4521. The company's cash ptssibon has continued to be closely and regularly
monitored.
The debt owed to London Borough of Tower Hamlets of £623,7BO was fully repald on Ilth Aprll 2023 following the sale of
the propety at 179-181 Whltechapel Road for £3,450,000 on 6th March 2023 with compleb'on ts￿'n9 place on the Ilth ￿rI1
2023,
From 1st January 2023, the trustees have appointed Dobbln & Sulllvan, Chartered Surveyors as the property manager to fully
rnanage the property at 183-185 Whltechapel Road.
Surplus funds from the sale of the propety 179-181 WhItecha￿l Roèd were Invested with CCL4 In the COIF Charllles
Investrnent Fund and some c85h Is held In the CCLA Dep051t Fund, These funds totalled £3,588,299 at the year end, (2024
£3,610,S98).
STATEMENT OF TRUSTEES, RESPONSIBILMES
The trustee5 (who are also the dlrectors of Davenant Foundalon Formerly Oavenant Centre (The) for the purp05e5 of
company lawl are responsible for preparing the Report of the Trustees and the financial Statements In accordance wlth
ppllcable law and Unlteij Klngdom Accountlno Standard5 Iunlted Klngdom Generally Accepted kcoyntlng Practlce).
Company law requlres the trustees to prepare financlal statements for each financial year, Under that law, the trustees have
elected to prepare the financlal statements in accordènce wlth Unlted Mngdom Generally A¢￿pted Accounting Prarti
(Unlted King(S0rn Accountyng Stsndards and appllcable law).
Under company13w the truste￿ rnust not approve the ffnanclal statements unless they are satlsfleil that they glve a true and
fair view of the state of affair5 of the charitable company and of the incomlng resources and application of resources,
I￿lUdIng the Income and expenditure, of the charftab￿ company for that perlod. In preparing th05e financlal staternentS, the
trustees are required to
select suitable accounting rx)Ilthes and then apply them consistently
observe the methods and principle5 in the char￿e8 SORP,.
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the goi￿￿ CDncern basis unless it 15 Inapproprlate to presume that the charltable
company wlll tontinue in busine55.
The trustees are responsible for keeplng proper accounting records which disc105e wlth reasonable accuracy at any time the
flnancial PDsition of the charitsble company and to enable them to ensure that the financial Statements comply with the
compani￿ Act 2006. They are also responsible for Safeguarding the assets of the charitsble company and hen￿ for tsking
reasonable steps fN the prevention and detection of fraud and other irregularitie5.
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDtroRS
So far as the trustees are aware, there is no relevant information {as defined by Section 418 of the Companles Act 2006) of
which the charitsble companV5 auditors are unaware, and each tsustee has taken all the steps that they ought to have taken
a5 a trustee In order to make them aware of any audit information and to establish that the charthble company's auditors are
aware of that Inforrnation.
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DAVEN
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EPORT
THE
AR END
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CH 202
ORTH
AUDITORS
The audltors, Ashfords Partnershlp LLP, wlll be proposed for Trappoinbnent at the forthcomlng Annual G￿eral Meets"ng.
Report of the tru5tee5, incorporabng a strategic report, approved ty order of the board of trustees, as the cornpany dlreLtors,
on 3 December 2025 and slgned on the bDaid'5 behalf by:
J A Pulford MBE- Trustee
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RE
OFTHEI
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DITORS TO T
DAVENANT F
ND
ENANT CENT
Oplnion
We have audlted the financial statemerts of Davenant FoundatSon Formerty Davenant Centre (The) (the 'charltsble
company,) for the year ended 31 March 2025 whlch comprise the Statement of Financial Activities, the Balan￿ Sheet and
notes to the financial ststements, Including a summary of significant accountSng pollcles. The financlal reporting framework
that h35 been applied in their preparation is applicable law arxi Unlted Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Prattice).
In our opinion the financial statement5:
give a true and fair view of the thte of the chartiable companV5 affairs a5 at 31 March 2025 and Df its incoming resources
and applicatlon of ￿SOurces, including Its income and expenditure, for the year then ended,.
have been properly prepa￿d in accordan￿ wlth Unlted Kingdom Generally At￿pted Accounting Prattice,. and
have been prepared in accordance with the requirements of the Companies Att 2006.
Basis for oplnlon
We conducted our audit in accordance wlth International Standards on Auditing (UK) (ISAS (UK)) and appllcable law. Our
responsibili￿& under those standard5 are further described in the Audltors, responsibilities for the audit Df the financial
statements section of oyr report. We are independent of the charitable company In accordance wlth the ethicèl requirements
that are relevant to our audit of the financial statements In the UK, Includlng the FRC'S Ethical Standard, and we have fvlfilled
our other ethlcal responslbllities in accordance with these requirements. We belleve that the audlt eVIden￿ we have
obtslned Is sufficient and approprlate to provlde a basis for our opinion.
Concluslons relatlng to golng concern
In auditing the ffnanclal statements, we have concluded that the trustees, use of the going concern bas15 of accountlng In the
preparatlon of the flnancial statements Ss approprlate.
Based on the work we have performed, we have not Identifled any materlal ￿n￿rtaIntleS relatlng to events or condltlons that,
SnLJlvldually or collectively, may cast 5ignlficant doubt on the charitable company's abllty to continue as a going concern for
perlod of at least ￿e1ve rnonths from when the ffnandal 5tatsments are authorised for issue.
Our respon51bllllle5 and the responslbllltles ol the trustees with r￿Fert to golng concern are dexrfbed In the relevant
5ertlons of thls report.
Other Informatlon
The trustees are responslble for the other Informatlon. The other inf¢rmaU¢n comprlses the InfOrMa￿on Included In the
Annual Report, other than the flnanclal statements and our Report of the Independent Audltors thereon.
Our opinlon on the flnancial statements does not cover the other information and, except to the extent otheNise expliclt5y
stated In our report, we do not express any form of assuran￿ conclusion thereon.
In conneth'on wlth our audlt of the flnanclal statefflents, our re5ponslblllty Is to read the other inforrnation and, In dolng 50,
consider whether the other information Is materlally Inconsistent with the financial statements or our knowledge obtalned In
the audit or othe¢wise appear5 to be rnaterlally misstated. If we identlfy such material inconsistencles or apparent Material
rn155tatsments, we are requlred to determine whether thi5 gives rise to 3 mater[81 mlsstatement in the financial statement5
thern5elves. If, based on th& work we have perforrned, we conclude that there is a materlal misstatement of this other
information, we are required to report that fact. We have nothing to report in th15 regard.
Opinions on other matters prescrlbed by the Companleg Act 2006
In our opinion, based tsn the work undertaken in the cour* of the audit:
the information given in the RerKJrt of the Trustees for the financial year for which the financial statements are prepared is
consi5tenL wY(h the financbal 5tatements,' and
the Report of the Twstees ha5 been prepared In accordan￿ with applicable legal requirements.
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Matters on whith we a￿ required to report by exception
In the light of the thowledge and understanding of the charitable company and its environment obtsined in the couyse of the
audtt, we have not identSfied material misstatements in the Report of the Trustee5.
We have nothlng to report in respett of the following matters where the Companles Act 2006 requires us to rewrt to you if.
in our oplnion..
adequate accounting records have not b*n kept or returns adequats for our audit have not been recelved from branches
not visited by us; or
the finanaal statements are not In agreernent with the accounting records and returns; or
certaln disclosures of trusteel remuneration specified by law are not made; or
we have not re￿iVed all the information and explanations we. re.quire. for our aiidit; or
the trustees were not entlued to take advantage of the small companie5 exemption from the requirement to prepare a
strateglc Report or in prepartny the Report of the Trustees.
Responsibilities of trustees
As explained more fully in the Statement of Trustees, Responslblllties, the trustee5 (who are also the dire¢lors of the
charitable company for the purpose5 of company law) are responsible for the preparation of the flnanclal statements and for
being 5atr'sfied that they give a true and falr vlew, and for such Internèl control as the trustees determine is necessary tg
enable the preparaty.on of flnanclal statements that are free from materlal misstatement, whether due to fraud or error.
In preparing the financlal statements, the trustees are responsltrAe for assesslng the charitsble company's abl1￿ to contlnue
as a going con￿rn, dlsclosing, as applicable, rnatters related to going concern and using the golng concern basls of
accounting unless the twstees either intend to Ilquidak the charltable company or to ￿ase operatlons, or have no reallslc
alternative but to do 50.
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REPORT
E INDEPE
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T AUDITORS TO THE MEMBERS OF
DAVENANT FOUNDATION
CENTRE
FOR
THE
Our responsibilitie5 for the audit of the financial statements
Our Objecti￿ are to obtsln reasonable assurantr about whether the finanoal statsments as a whole are free from mateiial
mi55tatetnent, whether due to fraud or error, and to issue a Report of the Independent Audbtors that include5 our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audY( conducted in accordance wlth ISAS
(UK) will always detett a material misststement when it exlsts. Mi5Statement5 can arise from fraud or error and are
considered material if, Indlvldually or in the aggregate, they could reasonably be experted to Influence the economlc
decisions of users taken Dn the basis of th￿e fir)ancial siatements.
Our approach to identifying and aSS￿Ing the rlsks of material mlsstatement In re5pett of Irregularities, induding fraud and
non-complian￿ wilh laws and regulations, was as follow5..
The engagement partn￿ ensured that the engagement team Collective￿ had the approprfate Cornpete￿e, capabilitles and
skills to identify or recognise non-compliance with applicable laws ènd regulations; we Identified the laws and regulatlons
applicable to the company through disCUS5ions with directors and other rnanagement, and from our commercial knowledge
and experlence of the consultanry serviw sector. we f£￿uSed on specific laws and regulatltsns which we considered may
have a dirett material effect on the flnancial Statéments or the operations of Ihe company, Including the Companies Act
2006, taxation leglslation ond data protectlon, anti-bribery, empbyrnent, and heolth and safety leglslation; we assessed the
extent of compliance wlth the laws and ￿gUlationS identified above thrtsugh maklng enqulrles of management and Snspecung
legal corresponden￿. and Sdentlfied laws and reyulatlons were cgmrnunicated wlthin the audlt team regularly and the team
remalned alert to Instances of non-complian￿ throughout the audlt.
We assessed the sUs￿ptI￿1￿ of the cornpany's fTnandal statements to materlal mlsststement, Includlng obtalning an
ut)derstanding of how fraud mlght occur, by maklng enquirles of management as to where they considered there was
susceptibility tu fraud, thelr knowledge of actual, sU5perted and alleged fraud. and considering the intemal contrd5 in place
to rnltlgate rlsk5 of fraud and rion-compllonce with law5 and regulatlons.
To address the rqsk of fraud through management bl35 and overrlde of contro15, we..
performed analytlcal procedu￿ to Identify any unusual or unexpeL*d relatlonshlps.
tested lournal entries to Identify unusual transactlons,.
- assessed whether judgements and assumptlons made In determlnlng the accounung estlmates were
reasonable
were indicative of potentlal blas. and
Investlgated the rationale behlnd signlflcant ¢y unusual transactSons.
In response to the rlsk of Irregularltles and non.compliance wlth laws and regulations, we deslgned prO￿dureS whlch
Induded, but were not Ilmlted to.. agreeing flnancial statement dlsclosures to underlylng supporting documentation,. reading
the minutes of meetings of those charged with g0veMan￿,. enquiring of management a5 to actual and potential litigatlon and
claims. and reviewing Corresponden￿ with HMRC, Televènt regul?tc¢s and the company's legal advlS0rs,
There a￿ inherent Ilmitations In our audit proceduies described alKve, The more rernoved that laws and regulation5 are from
financial tran5action5, the less Ilkely it 15 that we would become aware of non-complian￿. Auditing stsndards d150 limit the
audit procedures required to identify non-cornpliance wlth laws and regulatson5 to enqulry of the dlrectors and other
management and the in5pectlon of regulatory and tegal Corresp)nden￿, if any.
A further de5crfption of our re5pon5ibilitles for the audlt of the flnancial staterllent5 is located on the FSnancial Reportlng
Council's website at www.frc.0rg.uk1aud￿0rsreSp0nslbI1itle5. Thi5 destription forms part of our Report of the l¢)dependent
AudltOT5.
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ORT OFTHE IND
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DAVENANT
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LY DAVEN
Use of our report
This report Is tnade sokly to tho chailtable companls members, as a bodyi In accordan￿ with Chapter 3 of Part IS of the
Compènie5 Art 2006. Our audit work has been undertaken SD that we might state to the charftsble company's members
those matter5 we are required to stste to them In an auditorg report and for no other purpose. To the fullest ertent
permitted by law, we do not accept Dr assume respDnsibility to anyone other than the charitsble company and the charitsb
company's memlxrs as a body, for our audlt work, for this reporL or for the oplnions we have formed.
Asho
Mukun
Au
for
nd on behalf of Ashfords Partnership LLP
-116 GoOdMay￿ Road
ord
Esex
IG3 9UZ
3 December 2025
Page 10

DAVEN
ERL
AVEN
FOUND
ON
T CENTRE
HE
ENT
EYEARE
INAN
DED
LA
ES
RCH2
31.3.25
Total
funds
31.3.24
Total
funds
Unrestricted
fijnds
Restritted
fvnds
Note5
INCOME AND ENDOWMENTS FROM
Investment income
other Income
122,133
62,122
122,133
62,122
180,958
100,191
Total
184,255
184,255
281,149
EXPENDITURE ON
Raising funds
106,330
106,330
79,531
Charltable activities
General
26,484
26,484
52,827
Total
132,814
132,814
132,358
NET INCOME
Other recognlsod 9aln$l(losses)
Galnslll0sses} on revaluation of fixed assets
51,441
51,441
148,791
172,629)
172,629)
408,673
Net movement In fundg
{21,188)
(21,188)
557,464
RECONCILIATXON OF FUNDS
Totol funds brought forward
3,721,103
2,550,000
6,271,103
5,713,639
TOTAL FUNDS CARRIED FORWARD
3,699,915
2,550,000
6,249,915
6,271,103
The notes fom) part of these flnanclal statements
Page 11

DAV
LY DAVE
UNDATI
AN
NTRE
FO
THE
MA
31.3.25
Totsi
funds
31.3.24
Total
funds
Unrestrlcted
funds
Re5trf(ted
nds
Note5
FIXED ASSETS
Investments
Investrnents
Investment property
3,588,299
3,588,299
2,550,000
3,610,598
2,550,000
2,550,000
3,588,299
2,550,000
6,138,299
6,160,598
CURRENT ASSETS
Debtor5
Cash at bank
77,567
55,447
77.567
55,447
86,788
84,452
133.014
133,014
171,240
CREDITORS
Amounts fallin9 due withln one year
io
(21,398)
{21,398)
(60,7351
NET CURRENT ASSETS
111,616
111,616
110,505
TOTAL ASSEfs LESS CURRENT LIABILITIES
3,699,915
2,550,000
6,249,915
6,271,103
NET ASSErs
3,699,915
2,550,000
6,249,915
6,271,103
FUNDS
Unrestrltted funds
Restrlcted ￿ndS
li
3,699,915
2,550,000
3,721,103
2,550,000
TOTAL FUNDS
6,249,915
6,271,103
These tlnandal statements have been prepared in accordance wlth the provislons applicable to tharltable tompanle5 subject
to the small cornpanles reglme.
The ffnandal statements v4ere approved by the Board of Trustees and authorised for Issue on 3 Detember 2025 and were
slgned on Its tehalf by,.
) A Pul(￿d MBE . Trustee
The form part of these flnancial statements
Page 12

AVE
ERL
DA
NT FOUND
EN
CENTRE
FO
TE
TOT
E FINANCI
YEA
EME
20
AR
ACCOUNTING POLICIES
Basls of preparing the finan¢l41 statements
The financial ststements of the charitable company, which is a publlc benefit entty under FRS 102 have been
prepared In accordan￿ with the Charities SORP (FRS 1021 'Accounting and Report4ng by Charlties: Statement of
Recommended Practi￿ applicable to charit4es preparing their accounts in accordance with the Flnancial ReportiThJ
standard applicable in the UK and Republic of Ireland IFRS IQ2} (effective l January 2019)., Financlal ReportiwJ
Standard 102 The Flnancial Reporting Stsndard applicable In the UK and Republic of Ireland, and the Companies Act
2006. The ffnancial statements have been piepared under the historlcal cost convention, wlth the e￿ptIon of
investments which are Included at market value, as modifled by the revaluation of certsln assets.
Income
All income is recognised in the Statement of Flnancial ActI￿tIeS once the charlty has entidement to the funds, it Is
probable that the income will be re￿iVed and the amount can be measured reliobly.
Expenditure
Lbabilities are recognised as expendlture a5 soon as there is a legal or constructive 0￿[gatIon commtt1ng the charsty
to that expenditure, It is probable that a transfer of economlc benefits wlll be requlred in settlement and the amount
of the obllgation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified
under headings that aggregate all c05t related to the category. Where costs cannot be directly attrlbuted to partlcular
headings they have been allocated to activities on a basis consistent wlth the use of resources,
Grants offered sub]'ect to conditsons which have not been met at the year end dats are noted as a commltrnent but
not a￿rUed as expendlture.
Investment property
Investment propety Is shown at most recent valuation. Any aggregate surplus or deflclt arlslng from changes In farr
value is reco9nised In the Ststement of Flnancial Actlvltles.
The Trustees eonslder that no Depreclatlon provlslon 15 requlred on the Investment properoes.
Taxatlort
The charity15 exempt fmm corporatlon tax ¢]n Its charltable actlvltles.
Fund accountlng
General funds are unrestrlcted funds whlch are available for the use at the dlscrellorb of the Trustees In lurtheiance of
the actlvlttes of the charSty and have not been designated for ottrter purpD5es,
Restritted funds are fund5 whlch are to be used In accordano wSth speciflc restrlctions Imposed by donors whlch
have been ralsed by the charlty for partlcular purp05e5. The cost of ralsing and administering such fund are charged
agalnst the speofic fund. The aim and use of each restritted fund is set out In the notes to the financbal statements.
Investrnents held at colf
Investments are stated at the market value at year end after making any provisions for Impalrments or upward
revaluations.
Page 13
contlnued...

AVE
NTF
NDA
ERLY DAV
ANT
TR
THE
TO THE FIN
YEA
CIAL
ATE
ENDED 31 M
EN
-con
CH2
INVESTMENT INCOME
31.3.25
31.3.24
Rent re￿Vable
other flxed asset invest- Fll
Deposit account interest
121,803
330
168,942
8,416
3,600
122,133
180,958
RAZSING FUNDS
Investment management costs
31.3.25
31.3.24
Ynsurance
Sundrles
Management fees
Propety repai
Bank Chaiges
Light & heat
Cleanlng
Water rates
Irrecoverable VAT
Postage and 5tatlonary
Computer expenses
Intere5t- LBTH overdraft
Arountsncy fees
Auditor5, remuneratlon
Legal & professlonal fees
6,107
255
7,885
33,391
62
30,220
5,622
1,444
5,994
60
6,314
9,217
140
26,776
3,456
485
1,280
48
480
819
3,800
2,800
17,862
54
826
5,204
4,500
10,760
106,330
79,531
TRUSTEES, REMUNERAT1014 AND BENEFITS
There We￿ no trustees, remuneratlon or other benefits for the year ended 31 March 202S nor for the year ended
31 March 2024.
Trustees, expense
There were no trustee5' expens& paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Page 14
contonued...

OA
ANT FOUND
TION
LY DAV
NANT CENT
TH
NC
LSTA
END
D31
EMEN
RCH
ued
EYEA
025
AFF COSTS
The charity had ￿ employees dursng the year and has had none for a number of years.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIvrfIES
Unrestricted
funds
Rthicted
funds
Totsl
funds
INCOME AND ENDOWMENTS FROM
Investment income
other Income
180,958
100,191
180,958
100,191
Totsl
281,149
281,149
EXPENDrruRE ON
Raislng funds
78,712
819
79,531
Charftable actlvStles
GerEral
52,827
52,827
Total
131,539
819
132,358
NETINCOMEI(EXPENDITURE)
Transfers between funds
Other recognlsed gainsl(losses)
Galns on revaluauon of fix& assets
149,610
2,815,001
1819)
{2,81S,001)
148,791
408,673
408,673
Net movement In fuodg
3,373,284
(2,815,820)
557,464
RECONCILIATION OF FUNDS
Total fund5 brought foNard
347,819
5,365,820
5,713,639
TOTAL FUNDS CARRIED FORWARD
3,721,103
2,550,000
6,271,103
Page 15
contlnued...

FO
ON
RLY DAVEN
TCEN
NOTE
TOTH
FO
THE
FINAN
ARE
IAL ST
DE
-con
25
MARC
FIXED ASSET INVESTMENTS
Listed
investments
MARKETVALUE
At l April 2024
Addition5
Impalrments
3,610,598
50,330
{72,6291
At 31 Narch 2025
3,588,299
NET BOOK VALUE
At 31 March 2025
3,588,299
At 31 March 2024
3,610,598
There were no Investment assets outslde the UK.
Cost or valijatson at 31 March 2025 Is represented by.,
Llsted
Investments
Valuatlon in 2024
Valuallon in 2025
C05t
408,673
{72,629}
3,252,255
3,588,299
INVESTMENT PROPERTY
FAIR VALUE
At l April 2024
and 31 March 2025
2,550.000
NET BOOKVALUE
At 31 Maich 2025
2,550,000
At 31 Marth 2024
2,550,000
The propety at 183-185 Whitechapel Road, London, El IDN were revalued by Dobbln & Sullivan, Ch3rtered
Surveyors during September 2019 at £2,550,000. The Trustees a￿ of the oplnion that the above represents a fair
value at the Balance Sheet date.
Page 16
continued...

DAV
NA
LYD
OUNDATI
ENANTCEN
NOT
HE
ANCIAL
END
TEME
D31
AR
ued
YE
H 2025
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25
31.3.24
Amount due from tenants
Amount held by rnanaglng agents
VAT
Prepayments
49,214
16,907
40,295
34,884
7,150
4,459
11,446
77,567
86,788
io.
CREDThORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25
31.3.24
Rent deposlt
Accruals
RenVSeNKe charye ￿e1Ved In advance
3,027
15,109
3,262
3,027
54.707
3,ODI
21,398
60.735
ii.
MOVEMENT IN FUNDS
Net
vement
In funds
At
31.3.25
At 1,4.24
Unrestrlcted fund
General fvnd
3,721,103
(21,1881
3,699,915
Restrl¢ted fund$
General fund
Property revaluatlon reserve.
1,708.929
841,071
1,708,929
841,071
2,550,OC
2,550,QCX)
TOTAL FUNDS
6,271.103
(21,1881
6,249,915
Net movement In funds, Included In the above are as fotlows:
Incomlng
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted fvnds
General fund
184,255
(132,8141
(72,629)
(21,L88)
TOTAL FUNDS
184,255
(132,8141
(72,629)
(21,L88)
Page 17
contlnued...

NANT
OUNDATION
ERLY D
ENANT CENT
HE
OTES
THEF
ANCI
HE YEAR ENDED 31
ME
Ts-co
RCH 202
ii.
MOVEMENT IN FIJNDS- continued
Comparative5 for movement in funds
Net
movement
n funds
Transfers
btheen
fund5
At
31.3.24
At 1.4.23
Unrestritted funds
General ftrnd
347,819
558,283
2,815,001
3,721,103
Restrirted funds
General fund
4,524,749
841,071
Propety revaluatyon reserve.
1819) (2.815,001)
1,708,929
841,071
5,365,820
(819) (2,815,001)
2,550,000
TOTAL FUNDS
5,713,639
557,464
6,271,103
Comparauve net movement in funds, Includ& Sn the above are as follows..
Incoming
resources
Resour￿5
expended
Galns and
1055es
Movement
In funds
Unregtrlrted funds
General fund
281,149
(131,539)
408,673
558,283
Restrlcted lunds
General fund
1819)
(819)
TOTAL FUNDS
281,149
{132,3581
408,673
557,464
Page 18
continued.-.

AVENANT
LYD
EN
OUNDATI
T CENTRE
FO
ES
EFI
YEA
NC
TEME
ENDED 31
ARC
202
ii.
MOVEMENT IN FUNDS- continued
A current year 12 month5 and prior year 12 months combined po￿tIOn Is as follow5.'
Net
movement
In funds
Transfers
btheen
funds
At
31.3.25
At 1.4.23
Unrestrirted funds
General fund
347,819
537,095
2,815,OOL
3,699,915
Restricted funds
General fund
Propety revaluatlon reseNe.
4,524,749
841,071
1819} 12,815,001)
1,708,929
841,071
5,365,820
1819)
12,815,CQll
2,550,000
TOTAL FUNDS
5,713,639
536,276
6,249,915
A current year 12 months and prlor year 12 months comblned net movemerf In funds, Included In the above are as
follows;
Incomlng
re50ur
Resource5
expended
Gains and
losse5
Mt)vement
In fvnds
Unrejtrlcted funds
General fund
465,404
(264,353)
336,044
537,095
RestrScted funds
Gener41 fund
(819)
(8191
TOTAL FUNDS
465,404
(265,172)
336,044
536,276
Purposes ol unre5trlrted funds
Unre&Acted fvnd5 represents the Surplus/deftcit on the day to day activitie5 of the charity.
Purposes of restricted funds
The general reSt￿d funds represents the net book value of the freehold land and bulljlng les5 the related loans
The Propety revaluadon re5eNe represents the increaseldecrease in the ts)ck value of the freehold propertie5 at falr
value. The properties will be revalued every three years and any adjustments to thls value will be accounted ft)r
through this reserve.
Page 19
continued...

DAV
NANT F
UNDATI
ME
Y DAVE
ANfcENTRE
TOT
RTHEY
NA
CIA
ARE
EME
RC
D31
20
12.
CONTINGENT UABILITIES
The land and btsilding were purchased by use of grant ald eX￿edIng £1.6 mlllion. The initial and by far the m05t
substantial grants wa5 from Greater London Council IGLQ. A condition of the grant ald was that GLC and succe550tS
in tltle have a mortgage charge secured on the propety to the extent of the grant aid lÉ1,093,470}. This charge wa5
for thirty years from 6 June 1984 to 5th June 2014 and has now explred. As the GLC h?5 been abolished, it is unC￿ar
who the successors in tllle are and the legal charge remains in place at the Land Registry. The mortgage Is a charge,
contingent on any breaches of the conditions of grant aid and would normally be payable.
RELATED PARTY DISCLOSURES
13.
There were no related paty transactlons for the year ended 31 March 2025.
Page 20

DAVE
T FOUNDATIO
DAVENA
NTRE
FORM
DETAIL
FOA
srATEM
YEAR E
DED 31 MAR
31.3.25
31.3.24
INCOME AND ENDOWMENTS
Investment income
Rent recelvable
Other fixed asset invest- Fll
Deposlt account interest
121,803
330
168,942
8,416
3,600
122,133
180,958
other Income
Insurance reimbursed
Servlce charges
utS1Stses recharyed
Other Income
Repairs rdmbjrsement
8,169
28,947
5,944
250
18,812
13,786
54,552
31,353
500
62,122
100,191
Totsl locomlng resources
184,255
281,149
EXPENDITURE
Investment m)Ytagement costs
Insurance
Sundrle5
Management fees
Property repalrs
Bank Charges
Ll9ht & heat
Cleaning
Water rates
Irrecoverable VAT
Postage and 5tatlonary
Computer expenses
Interest- LBTH overdraft
Accountsncy fees
Auditors, remuneration
Legal & professlonal fees
6,107
255
7,885
33,391
62
30,220
5,622
1,444
5,994
6,314
9,217
140
26,776
3,456
485
1,280
48
480
8L9
3.800
2,800
17,862
826
5,204
4,500
10,760
106,330
79,531
Charltable attivltles
Grants to Tenants
Grants to individuals
6,790
19,694
52,827
26,484
52,827
Total resources exFended
132,814
132,358
Net income
51,441
148,791
This page does not form part of the statutory finantsèl statements
Page 21