OFFICE COPY PATHAK CHAIUTABLE FOUNDATION FINANCIAL STATEMENTS 31ST JANUARY 2025 (Registered No. 1032360) Shenward (London) Limited Charttred Aeeountants & Busine55 Advisors l Floor, KirklHnd House 11-15 Peterborough Road Harrow, Middlesex HAI 2A OFFICE COPY PATHAK CHARITABLE FOUNDATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2025 CONTENTS Page CRwity infornation Tru5t¢e5' report Receipts and payments Statement of Assets and Liabilities at 31 January 2025 Notes OFFICE COPY PATHAK CHARITABLE FOUY4DATION CHARITY INFORMATION 31ST JANUARY 2025 NUMBER 1032360 TRUSTEES Mrs M K Pathak Mr N K Pathak Mr A King Mr V Wood Ms A Pathak MsCLee (appointed 15 July 2024) PRINCIPAL ADDRESS Nicholas House 3 Laurence Pountney Hill London EC4R OEU BANKERS Coutts & Co 440 Strand London WC2R OQS OFFICE COPY PATHAK CHAIUTABLE FOUNDATION REPORT OF THE TRUSTEES 31ST JANUARY 2025 The trustees present their report along with the financial statements of the Charity forthe year ended 31 J8nuary 2025. The fmancial statements have been prepared in accordance with the accounting p)licie5 Set out on page 5 and comply with the charity'5 trust deed and applicable law. Constitution and objects The Pathak Charitable Foundation wa5 wnstituted by a trnst deed dated 25 April 1988 and was amend¢d by a supplementsl deed dated Ih July 1993. The charity was registered on 31 January 1994 and the registered tharity no is 1032360. The objects of the charity are to relieve povety and the advancem¢nt of ¢ducation nationally and internationally. Organisation The tNstees who served during the year and since the year end are set out on Page l. Trustees are appointed by the board of tNst¢es and serve until they resign. Th¢ trustees meet as and when required and assess grant applications which are approved or refused. Grant making polley The charity does not advertise but receives applications for varlous projects. The applications are reviewed against specific criteria and objectives which the trustees have in conjunction with the objects of the charity. Financial review and investment policy The attached financial statements show the current state of finances which the ttwstees consider to be sound. The results for the year are in accordance with the objective to build and malntain reserves as noted below. In accordance with the trust deed, the trustees hav¢ the power to invest in such assets as they see fit. Reserves policy The trustees have examined the requirement for free reserve5 which are those unrestricted fun(L% and are satisfied with the level maintained. The trnstees. objective is to build and maintain the reserve5 to such a level as will enable the charity to make a sizeable grant toward5 a long-terni project and be abLe to continue to further contribute. if required, towards the rnaintetwicc costs of such a project. It is also the intention to build up and maintain sufficient reserves to be set aside as a capitsl sum and to utilise the income earned on this amount for maklng future grants and leave the capital intacL Mr N K Pathak For and on behalf of the Tn￿eeS Date 10 ..2025 OFFICE COPY PATHAK CHARITABLE FOUNDATION RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31ST JANUARY 2025 2025 21124 Receipts Bank interest Painting dtsposal proceeds 25,565 4,749 10,000 Total receipt5 25,565 14,749 Payments Accountancy fees Bank charges Donations Charitie5 investment fvnd 813 322 30,000 735 49 loo,000 Tot91 pgymeDts 31.135 100,784 Net receipts / (payments) {5.570) (86.035) Cash funds last year end 946.174 1.032.209 Cash funds this year end 940.604 946.174 OFFICE COPY PATHAK CHARITABLE FOUNDATIOY4 STATEMENT OF ASSETS AND L￿B1LITllEs AT 31ST JANUARY 2025 2025 2024 InvestmeDts Investment loo,000 loo.000 Cash funds Cash at bank 940,604 946,174 Totsl Assets 1,040,604 1,046,174 Mr N K Pathak For and on behalf of the knstees -12025 The notes on page 5 fomi part of these financial statements OFFICE COPY PATHAK CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2025 i) Ac¢ounting policies Basis of accounting The fmanclal Statements have been prepared on a receipts and payments basi5. This is consistent with previous periods. Foreign eurreneits Transaction5 denominated in foreign currencies during the year are translated at prevailing rates. Assets and liabilities are translated atrdtes applying atthe statementof assets and liabilities date. All differences are taken to the Receipts and Payments. 2) Analysis of net 8ssets by fulld 2025 2024 Unrestrieted ￿lld$ Current assets 940.604 946,174 Net assets 1.040,604 1.046.174 3) Trustees, remuneration and eipenses No remuneration was paid for the year to any trustee or to any person or persons known to be cotmected with any of them directly or indirectly out of the fimds of the clwity. 4) Commitments At the accounting date the foundation had no outstanding Gharitable commitments. 5) Investments During the previous year the Charity invested £IOO,000 in a Charitie5 Investment Fund A¢counL The invesknent is held at cost.