Registered number: N1604374
Charity number: NIC101440
ANGELLO DEVELOPMENT FOUNDATION
(A company limited by guarantee)
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

ANGELLO DEVELOPMENT FOUNDATION
(A company limited by guarantee)
CONTENTS
Page
Reference and administrative details of the Company, its Directors and advisers
Trustees, report
Independent examiner's report
Statement of financial activities
Balance sheet
9-10
Notes to the fjnancial statements
11-22

ANGELLO DEVELOPMENT FOUNDATION
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS DIRECTORS AND ADVISERS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Directors
Malcolm R Johnston
Paul Lindsay
Simon Lennox
Company registered
number
N1604374
Charity registered
number
NIC101440
Registered office
The Stables
29 Purdysburn Hill
Belfast
BT8 8JY
Accountants
Miscampbell & Co
Chartered Accountants
6 Annadale Avenue
Belfast
BT7 3JH
Bankers
Ulster Bank
11-16 Donegall Square East
Belfast
BT15UB
Page 1

ANGELLO DEVELOPMENT FOUNDATION
(A company limited by guarantee)
TRUSTEES, REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2022
The Trustees present their annual report together with the financial ststements of the Company for the 1
October 2021 to 30 September 2022. The Annual report serves the purposes of both a Trustees. report and a
directors, report under company law. The Trustees confirm that the Annual report and financial statements of the
charitable company comply with the current statutory requirements, the requirements of the charitable company's
governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report
required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors,
Report) Regulations 2013 has been omitted.
Angello Development Foundation has the company number N1604374 and is a registerd charity, charity number
NIC101440. The registered office is The Stables, 29 Purdysburn Hill, Belfast, BT8 8JY. The trustees during the
period and at the report approval date are Mr M Johnston, Mr S Lennox and Mr P Lindsay.
Objectives and activities
a. Policies and objectives
The principal object of the company is for charitable purposes only, specifically the advancement of education,
the advancement of religion (specifically the Christian Faithl, the advancement of health, the relief of hardship
and disadvantage, the advancement of community development, the advancement of environmental
improvement and the improvement of the holistic life of communities in developing nations.
b. Strategies for achieving objectives
The Trust will participate only in initiatives that are reasonably conducive to the realisation of the above
mentioned principal object, ensuring that its activities meet the test of being targeted for public benefit. The
initiatives of the Foundation can include=
1. The provision of health improvement,
2. The promotion of rural and urban development,
3. The establishment, provision or improvement of education, mentoring andlor training programmes,
4. The promotion and provision of community services,
5. The promotion of good ethics, especially in business and the economic life of the developing nations,
6. The promotion of ethical and transformational business solutions to impact on social and economic need.
The Trustees have regard to the Commission's public benefit requirement statutory guidance.
c. Main activities undertaken to further the Company's purposes for the public benefit
The charity has several activities running. The achievements are listed below in the Main achievements of the
Company.
Page 2

ANGELLO DEVELOPMENT FOUNDATION
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Achievements and performance
a. Main achievements of the Company
In the period under review the general focus of the Foundation was in the following..
Supporting the development of the 'Playground' of key national leaders from around 10 frontier nations as
they developed their local vision for enterprise led development.
Applying the experience of the Foundation in pioneering and thought leadership in the global movement of
enterprise led development, working with key international partners.
Building a Global Tribe of 12 young activists to support and mentor them in their growth in community
development.
Making selective investments in the early-stage businesses of high impact entrepreneurs.
b. Investment policy and performance
In pursuit of Foundation objectives, Trustees considered and implemented investments with high projected social
impact in frontier markets. Due diligence and evaluation was carried out by the Investment Committee. Trustees
are satisfied with the performance and impact of its existing investments.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate
resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt
the going concern basis in preparing the financial statements. Further details regarding the adoption of the going
concern basis can be found in the accounting policies.
b. Reserves policy
At this stage in the development of the activities of the Foundation it operates with very limited resources. The
Trustees do not consider a Reserves Policy is necessary.
structure, governance and management
a. Constitution
Angello Development Foundation is registered as a charitable company limited by guarantee and was set up by
a Memorandum of Association.
Page 3

ANGELLO DEVELOPMENT FOUNDATION
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Structure. governance and management (continued)
b. Methods of appointment or election of Trustees
The management of the company is the responsibility of the Trustees who are elected and co-opted under the
terms of the Articles of Association. Potential Trustees of the Company are considered by the Board. Primarily
this review considered whether, in the opinion of the Board, the prospective member will help the Company
meets its aims and objectives. Applicants considered suitable are then invited by the Chairman to join the Board.
Each Trustee of the Company is also appointed as a member. Those serving as Trustees are invited by the
existing Board on the ground of their proven ability, relevant experien￿, and personal interest in the work of the
Foundation and there is no scheme of training for directors in advan￿ of their appointment.
c. Organisational structure and decision-making policies
The Board considers the strategy of the Foundation and agrees operational priorities. Broad strategy on
disbursement of grants or investments is agreed collectively by the Board. Specific grants or investments are
allocated by an investment sub-committee and only made to projects or organisations with which the Trustees
have become familiar.
d. Financial risk management
The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the
operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate
exposure to the major risks.
Plans for future periods
The Foundation will continue to look for further opportunities to advance its objectives with relevant partners.
Funds held as custodian
The Foundation does not hold any funds as custodian for any other trustee body.
Members, Ilability
The Members of the Company guarantee to contribute an amount not exceeding £1 to the assets of the
Company in the event of winding up.
Page 4

ANGELLO DEVELOPMENT FOUNDATION
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER2022
Statement of Trustees. responsibilitles
The Trustee5 (who are also the directors of the Company for the purposes of company law) are responsible for
preparing the Trustees. report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial Under company law, the
Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of
the state of affairs of the Company and of its incoming resources and application of resources, including its
income and expenditure. for that period. In preparing these financial statements. the Trustees are required to..
select suitable accounting policies and then apply them consistently,
observe the methods and principles of the Charities SORP (FRS 102);
make judgements and accounting estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards {FRS 102) have been followed. subject to any material
departures disclosed and explained in the financial statements-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Companys transactions and disclose with reasonable accuracy at any time the financial position of the
Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They
are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by..
Mal
Dire
R Johnston
Date: 2 May 2023
Page 5

ANGELLO DEVELOPMENT FOUNDATION
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Independent examinerfs report to the Trustees of Angello Development Foundation
I report on the financial statements of the company for the year ended 30 September 2022 which are set out on
pages 8 to 22.
Respective responsibilities of charity Trustees and examiner
As the company's trustees {and also the directors of the company for the purpose of company law) you are
responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the company is not subject to audit under company law, and is eligible for
independent examination, it is my responsibility to..
examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008;
follow the procedures laid down in the general Directions given by the Commission under section 65{91(b)
of the Charities Act. and
state whether particular matters have come to my attention.
Basis of independent examiner's statement
I have examined your company accounts as required under section 65 of the Charities Act and my examination
was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland
under section 65(9)(b) of the Charities Act.
My examination included a review of the accounting records kept by the company and a comparison of the
accounts presented with those records. It also includes consideration of any unusual items or disclosures in the
accounts, and seeking explanations from you as company trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe:
that accounting records were not kept in accordance with section 386 of the Companies Act 2006.,
that the accounts do not accord with those accounting records.,
that the accounts do not comply with the accounting requirements of section 396 of the Companies Act
2006 and with the methods and principles of the 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);
that there is further information needed for a proper understanding of the accounts to be reached.
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and. in
connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters
that require drawing to your attention.
Page 6

ANGELLO DEVELOPMENT FOUNDATION
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Signed..
Dated.. 2 May 2023
Patrick Miscampbell FCA
Miscampbell & Co
6 Annadale Avenue
Belfast
BT7 3JH
Page 7

ANGELLO DEVELOPMENT FOUNDATION
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Unrestricted
funds
2022
Restricted
funds
2022
Total
funds
2022
Total
funds
2021
Note
Income from:
Donations and legacies
Other income
45,814
661
84,764
130,578
661
95,263
604
Total income
46.475
84,764
131,239
95,867
Expenditure on:
Charitable activities
112,937
112,937
132,397
Total expenditure
112,937
112,937
132,397
Net movement in funds
(66.462)
84,764
18,302
(36,530)
Reconciliation of funds:
Total funds brought forward
Net movement in funds
178,283
(66.462)
178,283
18,302
214,813
(36, 530)
84.764
Total funds carried forward
111,821
84,764
196,585
178,283
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 11 to 22 form part of these financial statements.
Page 8

ANGELLO DEVELOPMENT FOUNDATION
{A company limited by guarantee
REGISTERED NUMBER: N1604374
BALANCE SHEET
AS AT 30 SEPTEMBER 2022
2022
2021
Note
Fixed assets
Investments
13
7,525
7, 525
7,525
7, 525
Current assets
Debtors
Cash at bank and in hand
14
229,851
3,262
181,730
30,400
233,113
212, 130
Creditors.. amounts falling due within one
year
15
(44,053)
(41,372)
Net current assets
189,060
170, 758
Total assets less current liabilities
196,585
178,283
Total net assets
196,585
178,283
Charity funds
Restricted funds:
Restricted funds
Unrestricted funds
17
17
84,764
111,821
178,283
Total funds
196,585
178,283
Page 9

ANGELLO DEVELOPMENT FOUNDATION
(A company limited by guarantee)
REGISTERED NUMBER: N1604374
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2022
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in qljestion in accordance with
section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to
the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 02 May 2023 and signed on
their behalf by..
Mal
m R Johnston
The notes on pages 11 to 22 form part of these financial statements.
Page 10

ANGELLO DEVELOPMENT FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
General information
Angello Development Foundation Ltd is a charity limited by guarantee. The charity is incorporated in
Northern Ireland and has the company number N1604374 and is registered with Charity Commission
Northern Ireland and has the Charity number NIC101440. The registered office address is The Stables, 29
Purdysburn Hill, Belfast, BT8 8JY. The principal activity of the company continued to be the advancement
of religion (specifically the Christian Faith), the advancement of health, the relief of hardship and
disadvantage, the advancement of community development, the advancement of environmental
improvement and the improvement of the holistic life of communities in developing nations.
Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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 2015), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Angello Development Foundation meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction value unless othewise
stated in the relevant accounting policy.
The financial statements are presented in Sterling (£). The level of rounding is £1.
2.2 Going concern
After reviewing the company's investment strategy, forecasts and projections, the Directors have a
reasonable expectation that the company has adequate resources to continue in operational
existence for the foreseeable future. The company therefore continues to adopt the going concern
basis in preparing its financial statements.
2.3 Income
All income is recognised once the Company has entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of
income received for specific purposes but not expended during the period is shown in the relevant
funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its
recognition is deferred and included in creditors as deferred income. Where entitlement occurs
before income is received, the income is accrued.
Other income is recognised in the period in which it is receivable and to the extent the goods have
been provided or on completion of the service.
Page11

ANGELLO DEVELOPMENT FOUNDATION
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Accounting policies (continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third party, 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 classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly
to that activity. Shared costs which contribute to more than one activity and support costs which are
not attributable to a single activity are apportioned be￿een those activities on a basis consistent with
the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Company's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer
is conditional, such grants being recognised as expenditure when the conditions attaching are
fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a
commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.5 Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to
the Statement of financial activities over the expected useful lives of the assets concerned. Other
grants are credited to the Statement of financial activities as the related expenditure is incurred.
2.6 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value
cannot be measured reliably in which case it is measured at cost less impairment. Investment gains
and losses, whether realised or unrealised, are combined and presented as 'Gainsl{Losses) on
investments, in the Statement of financial activities.
2.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 12

ANGELLO DEVELOPMENT FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Accounting policies (continued)
2.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or
the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.10 Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
2.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Company and which have not been designated for other
purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the Company for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial statements.
Critical accounting estimates and areas of judgement
Estimates and judgements are continually evaluated and are based on historical experience and other
factors, including expectstions of future events that are believed to be reasonable under the
circumstances.
Critical accounting estimates and assumptions:
The Company makes estimates and assumptions concerning the future. The resulting accounting
estimates and assumptions will, by definition, seldom equal the related actual results. There are no
estimates and assumptions that have a significant risk of causing a material adjustment to the carrying
amounts of assets and liabilities within the next financial year.
Page 13

ANGELLO DEVELOPMENT FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Income from donations and legacies
Unrestricted Restricted
funds
funds
2022
2022
Total
funds
2022
Total
funds
2021
Donations and Grants
Gift aid claim
43,450
2,364
82,264
2,500
125,714
4,864
91,336
3,927
45,814
84,764
130,578
95,263
Total 2021
47, 727
48, 136
95,263
Other incoming resources
Unrestricted
funds
2022
Totsl
funds
2022
Total
funds
2021
Other incoming resources
661
661
604
Total 2021
604
604
Analysis of grants
Grants to
Instltutions
2022
Total
funds
2022
Total
funds
2021
Ethical Goods Limited, Itzinya and Patapia
96,767
96,767
126, 777
Total 2021
126,777
126, 777
Page 14

ANGELLO DEVELOPMENT FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted Restricted
funds
funds
2022
2022
Total
2022
Total
2021
Direct costs - Activities
112,937
112,937
132,397
Total 2021
84,261
48,136
132,397
Analysis of expenditure by activities
Activities
undertaken
directly
2022
Grant
funding of
activities
2022
Support
costs
2022
Total
funds
2022
Total
funds
2021
Direct costs - Activities
12,725
96,767
3,445
112,937
132.397
Total 2021
3.282
126. 777
2.338
132,397
Analysis of direct costs
Total
funds
2022
Total
funds
2021
Actlvltles
2022
Programme activity
12,725
12,725
3,282
Total 2021
3,282
3,282
Page 15

ANGELLO DEVELOPMENT FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Analysis of expenditure by activities (continued)
Analysis of support costs
Total
funds
2022
Total
funds
2021
Activities
2022
Project management
Office overheads
Independent examiner fees
Bank fees
144
144
144
1,080
1, 032
82
1.962
1,236
103
1,962
1,236
103
3,445
3,445
2,338
Total 2021
2, 338
2,338
Governance costs
Unrestricted
funds
2022
Total
funds
2022
Total
funds
2021
Independent examiner fees
1,236
1,236
1,032
10.
Independent examiner's remuneration
2022
2021
Fees payable to the Company's independent examiner for the independent
examination of the Company's annual accounts
1.032
Page 16

ANGELLO DEVELOPMENT FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
11. Staff costs
The average number of persons employed by the Company during the year was as follows:
2022
No.
2021
No.
Trustees
No employee received remuneration amounting to more than £60,000 in either year.
12. Trustees. remuneration and expenses
During the year, Trustees have been reimbusred travel expenses due to charitable activities held outside
Northern Ireland, such as London. Cairo and Pakistan etc. The value of Trustees, other benefits was as
follows..
2022
2021
Malcolm R Johnston
Paul Lindsay
Other benefits
Other benefits
6,485
2,216
441
During the year ended 30 September 2022, Trustee travel expenses have been incurred of £8,701 (2021
£441).
Page 17

ANGELLO DEVELOPMENT FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
13. Fixed asset investments
Unlisted
investments
Cost or valuation
At 1 October 2021
7,525
At 30 September 2022
7,525
Net book value
At 30 September 2022
7,525
At 30 September 2021
7,525
14. Debtors
2022
2021
Due within one year
Other debtors
229,851
181, 730
229,851
181, 730
15. Creditors: Amounts falling due within one year
2022
2021
Other loans
Accruals and deferred income
42,625
1,428
40,100
1,272
44,053
41,372
Page 18

ANGELLO DEVELOPMENT FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
16. Financial instruments
2022
2021
Financial assets
Financial assets measured at fair value through income and expenditure
10,787
37,925
Financial assets measured at fair value through income and expenditure comprise cash held at bank and
osts of fixed asset investments in the accounts.
Page 19

ANGELLO DEVELOPMENT FOUNDATION
IA company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
17. Statement of funds
Statement of funds - current year
Balance at
30
September
2022
Balance at 1
October
2021
Income Expenditure
Unrestricted funds
General Funds
178,283
46,475
1112,937)
111,821
Restricted funds
Restricted Funds- all funds
84,764
84,764
Total of funds
178,283
131,239
1112,937)
196,585
Statement of funds - prior year
Balance at
30
September
2021
Balance al
1 October
2020
Income Expenditure
Unrestricted funds
General Funds
214,813
47,731
(84,261)
178,283
Restrlcted funds
Restricted Funds - all funds
48,136
(48, 136)
Total of funds
214,813
95,867
(132,397)
178,283
Page 20

ANGELLO DEVELOPMENT FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
18. Summary of funds
Summary of funds - current year
Balance at
30
September
2022
Balance at 1
October
2021
Income Expenditure
General funds
Restricted funds
178,283
46,475
84,764
1112,937)
111,821
84,764
178,283
131,239
(112,937)
196,585
Summary of funds - prior year
Balance at
30
September
2021
Balance al
1 October
2020
Income Expenditure
General funds
Restricted funds
214,813
47,731
48, 136
(84,261)
(48, 136)
178,283
214,813
95,867
(132,397)
178,283
19. Analysis of net assets between funds
Analysis of net assets between funds - current year
Unrestricted Restricted
funds
funds
2022
2022
Total
funds
2022
Fixed asset investments
Current assets
Creditors due within one year
7,525
148,349
(44,053)
7,525
233,113
(44,053)
84,764
Total
111,821
84,764
196,585
Page 21

ANGELLO DEVELOPMENT FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
19. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
Unrestricted
funds
2021
Total
funds
2021
Fixed asset investments
Current assets
Creditors due within one year
7,525
212,130
(41,372)
7, 525
212,130
(41,372)
Total
178, 283
178,283
20. Related party transactions
Ideal Estates (Belfast) Limited is considered to be a related paty as Malcolm Johnston, a director in
Angello Development Foundation is also a director of Ideal Estates (Belfast} Limited. At the end of the
year, Angello Development Foundation owed Ideal Estates (Belfast) Limited £35,000, £25,000 of which
was provided as a loan in 2020, and the additonal £10,000 provided in 2022. No repayments were made
during the year.
Page 22