ANGELLO DEVELOPMENT FOUNDATION
TRUSTEES’ REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2025
The trustees present their annual report and financial statements for the year ended 30 September 2025. 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 the 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).
Angello Development Foundation has the company number NI604374 and is a registered charity, charity number NIC 101440. The registered office is Garvey Studios, 8-10 Longstone Street, Lisburn, Northern Ireland, BT28 1TP.
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 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.
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:
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The provision of health improvement,
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The promotion of rural and urban development,
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The establishment, provision or improvement of education, mentoring and/or training programmes,
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The promotion and provision of community services,
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The promotion of good ethics, especially in business and the economic life of the developing nations,
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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.
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ANGELLO DEVELOPMENT FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
Achievements and performance
a. Main achievements of the Company
The general focus of the Foundation continues to be in the following:
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Supporting the development of the international ‘Angello Network’ formed with key national leaders from 15 nations as they collectively develop their local vision for enterprise led development. 2. Applying the experience of the Foundation in pioneering and thought leadership in the global movement of enterprise led development, working with key international partners. 3. Building a Business Network across numerous countries in Eastern Europe, Central Asia and Africa to establish ecosystems that support faith driven enterprise.
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Making selective investments in the early-stage businesses of high impact entrepreneurs.
b. Investment policy and performance
In pursuit of Foundation objectives, Trustees consider and if satisfied, implement investments with high projected social impact in frontier markers. Due diligence and evaluation is carried out by the Investment Committee. Trustees monitor and 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.
Plans for future periods
The Foundation will continue to look for further opportunities to advance its objectives with relevant partners.
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 ofAssociation.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Mr M R Johnston (Resigned 7 March 2025) Mr P J Lindsay Mr S J Lennox Mr William Dalziel (Appointed 4 December 2024)
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ANGELLO DEVELOPMENT FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
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 experience, and personal interest in the work of the Foundation and there is no scheme of training for directors in advance 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.
Funds held as custodian trustee
The Foundation does not hold any funds as custodian for any other trustee body.
The trustees’ report was approved by the Board of Trustees.
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