Charlty reglstratlon number 1046940 {England and Wal&sl THE LEE AND BAKIRGIAN FAMILY TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
THE LEE AND BAKIRGIAN FAMILY TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Lord Lee of Trafford D.1., FCA (Chairl Miss Deborah Lucy Miriam Lee Miss Elspelh Catherine Rebecca Lee Ms Sada Lu¢inda Phillipa Kilby Charity number 1046940 Principal address 11 Seamons Road Altrincham Cheshire WA14 4ND Independent examiner Peter Atkinson F.C.A. JS. A¢¢ountsnts and Business Advisors Limited James House Yew Tree Way Warrington Cheshire WA3 3JD Bankers Barclays Bank PLC 198 Ashley Road Hale Allrinch8m Cheshire WA15 9SW
THE LEE AND BAKIRGIAN FAMILY TRUST CONTENTS Page Trustees report Independent examiner's report Statement of financial activities Balance sheet Notes to the finanaal statements 6-11
THE LEE AND BAKIRGIAN FAMILY TRUST TRUSTEES REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 The Trustees present their annual report and fin8n¢ial statements for the year ended 30 September 2025. The financial statements have been prepared in accordance with the a¢¢ounling policies set out in note 1 to the financial statèmènts and comply with thé charity's govèrning documènt. thè Charitiès Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended practi applicable to Charities preparing their accounts in ac¢ordan¢e with the Financial Reporting Standard appli¢able in the UK and Republi¢ of Ireland IFRS 1021 (effective 1 January 20191" Oblectlvès and actlvltlas The purpose of this charitable trust is to provide financial or other aid lo universities, colleges, schools, community and youth groups and religious institutions particularly in Lancashire and Cheshire lo promote research and to further charitable community and youth projects. The Tru51ses are s8tisfied that they have complied with their duty lo have due regard lo the guid8nce on public benefit published by the Charity Commission in exercising their powers or duties. The Trustees are mindftjl of the long-standing need to provide public benefit and of the requirements of the Charities Act 2016. In this regard, the Trustees have monitored closely the supplemental guidance prodUd by the Charity Commission. Public Bènsflt We review our aims, objectives and activities each year. We have referred to the guidance contained in the Charity Commission's Charities and Public Benefit document. All Df our charitable activities focus on the promotion of research, charitable and youth projects for the benefit of the community. Achievements and performance In accordance with the charity's slated objects above il has continued lo provide financial support lo local organisalions to further charitsble community and youth projects. The charity made charitable donations lo numerous org8nisations lotslling £33,674 in the year. Financial review In accordan with the stated objects of the charity, the trust aims to make donations to relevant organisations each year which equate in value to the income received. Currently the trust's income is earned from the investment base. During the year to 30 September 2025 receipts exceeded payments by £37,42412024'. £18,995). The Trustees are satisfied with the net asset level at 30 September 2025 of £904,09612024'. £750,096). Reserves Policy It is the policy of the charity that unrestricted funds which have not been designated for a specific purpose should be maintained at a level equal to a minimum of six months expenditure. This policy has been adhered to throughout the period under review. structure, govemance and management The charity is unincorporated and was established by a Declaration of Trust dated 30 June 1987, which has subsequently been updated by the Trustees, with the last update being on 31 July 2007. The Lee and Bakirgian Family Trust has been a r&gistered ¢harily since 5 June 1995. The Trustees who served during the year and up lo the dale of signature of the financial statements were.. Lord Lee of Trafford 0.1., FCA Ichairl Miss Deborah Lucy Miriam Lee Miss Elspeth Calhsrine Rsbecca Lee Ms Sada Lucinda Phillipa Kilby
THE LEE AND BAKIRGIAN FAMILY TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 The chair is responsible for the induction of new trustees. The induction provides new trustees with an awareness of their responsibilities, the goveming docLJment and history and philosophical approach of the charity. There are currently 4 trustees who meet regularfy. The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place lo limit exposure to the major risks. None of the Trustees has any beneficial interest in the charity. The Trustees report was approved by the Board of Trustees. Lord Lee of Trafford D.1., FCA Ichairl Trustee 5 June 2026
THE LEE AND BAKIRGIAN FAMILY TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LEE AND BAKIRGIAN FAMILY TRUST I report to the Trustees on my examination of the financial ststements of The Lee and Bakirgian Family Trust (the charity) for the year ended 30 September 2025. Rèsponsibilitiès and basis of rèport As the Trustees of the charity you are responsible for the preparation of the financial statements in accordan with the requirements of the Charities Act 2011. I report in respect of my examination of the charity's financial statements carried out under section 145 Df the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the Charits'es Act 2011. Ind&pend8nt 8xamln8r's statèment Your attention is drawn lo the fact that the charity has prepared the financial slalements in accordance with the relevant version of the Stslernenl of Recommended Practice applicable lo charities preparing their financial slal&menls in 8ccord8nce with the Financial Reporting Stand8rd 8ppIic8ble in the UK and Republic of Ireland IFRS 1021 in prèfèrèncè to thé Accounting and Rèporting by Charitiés Statèmènt of Récomméndèd Practlcé ISSU8d on 1 April 2005 which is referred to in the extant regLJlations but has now been withdrawn. l understand that this has been done in order for the financial statements to provide a trLJe and fair view in aOrdanCe with UK Generally Accepted Accounting Practi. I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe Ihat in any matèrial respect.. accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011. the finan¢ial ststemenls do not a¢¢ord with those re¢ords', or the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities IAccounls and Reports) Regulations 2008 other than any requirement that the financial slalements give a true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper uriderslanding of the financial slalements to be reached. Peter Atkinson F.C.A. JS. A¢countants and Business Advisors Limited James House Yew Tree W8y Warrington Cheshire WA3 3JD 0710612026 Date-.
THE LEE AND BAKIRGIAN FAMILY TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2025 Unrèstricted funds 2025 Unr8stricted funds 2024 Notes Incomè from: Investments 74,086 55,386 Total income 74,086 55,386 Exp8ndlturè on.. Charitable activities 36,662 36,391 Totsl expenditure 36,662 36,391 Net gainslllossesl on investments 116,576 58,545 Net income and movement in funds 154,000 77,$40 Reconciliation of funds.. Fund balances at 1 October 2024 750,096 672,556 Fund balances at 30 September 2025 904,096 750,096 The slalement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from Continuing activities.
THE LEE AND BAKIRGIAN FAMILY TRUST BALANCE SHEET ASAT30 SEPTEMBER 2025 2025 2024 Notes Fixed assets Investments 840,385 683,450 Current a$$et$ Cash at bank and in hand 63,711 66,646 Not Current a$$ots 63,711 66,646 Totsl assets less Current liabilities 904,096 750,096 The funds of the charlty Unrestricted funds 10 904,096 750,096 904,096 750,096 The financial statements were approved by the Trustees on 5 June 2026 L.£.. k.4.£.4 ... Lord Lee of Trafford D.1., FCA Ichairl Trustee
THE LEE AND BAKIRGIAN FAMILY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 Accountlng poll¢le$ Charity inforrnation The Lee and Bakirgian Family Trust is an unincorporated charity. 1.1 Accounting convèntion The financial statements have been prepared in accordan with the charitys goveming document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffeclive 1 January 20191. The charity is a Public Benefit Enlily as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterfing, which is the functional curren¢y of the ¢harity- Monetary amounts in these financial statements are rounded to the nearest £. The financial ststements have been prepared under the historical cost convention, modified to includg certain fixed asset investments at fair value. The principal accounting policies adopted are set out below. 1.2 Golng con¢ern At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtheran of their charitable objectives. Restricted funds are subject lo specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the reslricled funds are sel out in the notes lo the financial slalements. 1.4 In¢omo Income is recognised on an accruals basis when the charity is le9ally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. 1.5 Expenditu Expendilure, including irrecoverable VAT is recognised on the accrual basis. All costs are allocated between the expenditure categories of the Statement of Financial Activities on bases designed lo reflect the uses of particular resources. Costs relating lo a particular activity are allocated directly, while others are apportioned on an appropriate basis. 1.6 Fixed as$¢t inv¢$tm&nts Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Fair value is arrived at by reference to year end valuation reports reiVed from the charity's investment managers. Changes in fair value are recognised in nel incomellexpendilurel for the year. Transaction costs are expensed as incurred.
THE LEE AND BAKIRGIAN FAMILY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Accounting policies (Continued) 1.7 Cash and cash equivalents Gash and cash equivalents include cash in hand, deposits held al call with banks, other short-lerm liquid investments with original maturities of Ihrse months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current li8bilities. 8a5ic financial assets Basic financial assets, which in¢lLJde cash and bank balans, are initially measured at transaction price including transaction costs and are subsequently carried at am0Sed cost using the effective interest method unless the arran9ement constitules a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Impairnient of financial assets Financial assets, other than those held al fair value through income and expenditure, are assessed for indicators of impairment al each reporting dale. Financial assets are impairsd where there is objective evidence that, as a result of one or more &venls that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in nel incomellexpenditurel for the year. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been. had the imp8irmenl not previously been recognised. The impairment reversal is reGognised in nel inGomellexpendilurel for the year. Derecognition of financial assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. Basic financial liabilities Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing Iransaclion, where the debt instrument is measured at the present value of the future payments discounted at a market rale of interest. Financial liabilities classified as payable within one year are not amortistrd. Derecognition of financial liabilities Financial liabilities are derecognised when the charty's contractual obligations expire or are discharged or cancelled.
THE LEE AND BAKIRGIAN FAMILY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Income from Inve$tment$ Unrestricted Unrestricted funds funds 2025 2024 Income from listed investments Interest receivable 73,906 180 55,344 42 74,086 55,386 Charltable actlvltl•s 2025 2024 Charitable donations 33,674 33,529 Governance costs 2,988 2,862 36,662 36,391 Independent exarninerfs remuneration Fees payable to the independent examiner 2025 2024 Independent examiner review of the annual accounts 1,075 1,025 Trustees None of the Trustees lor any persons connected with them) received any remuneration, benefits or expenses frorn the charity during the year. Employees There were no employees during the year.
THE LEE AND BAKIRGIAN FAMILY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Galns and losses on Investments Unrestricted Unrestricted funds funds 2025 2024 Gainslllossesl arising on.. Revaluation of investments 116,576 58,545 Taxation The charity is exempl from tax on income 8nd gains falling within section 505 of the Taxes Ad 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied lo ils ¢h8rilable objects. Fixed asset investments Listed Investmants Cost or valuation At 1 October 2024 Additions Valuation changes Disposals 683,450 79,358 116,576 138,9991 At 30 September 2025 840,385 Carrying amount At 30 September 2025 840,385 At 30 September 2024 683,450
THE LEE AND BAKIRGIAN FAMILY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 10 Unre$trlcted fund$ The funds of the charity include the following UnstrICted funds.. At 1 October 2024 Incoming re50urce5 Resources expended Gains and losses At30 September 2025 General unrestricted ftjnds 750,096 74,086 136,6621 116,576 904,096 Previous year.. At 1 October 2023 Incoming resources Resources expended Gains and losses At30 September 2024 General unrestricted ftjnds 672,556 55,386 136,3911 58,545 750,096 10
THE LEE AND BAKIRGIAN FAMILY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 11 Analysls of net assets between fund$ Unrestricted funds 2025 Fund balances at 30 September 2025 are represented by- Investments Current asselsllliabililiesl 840,385 63,711 904,096 Unrestrl¢ted funds 2024 Fund balances at 30 September 2024 are represented by: Investments Current assetsllliabilitiesl 683,450 66,646 750,096 12 Related party transactions There were no disclosable related party transactions during the year12024 - none).