Docusign Envelope ID: F608E184-0F14-80A3-823D-765044D75C2B
REGISTERED CHARITY NUMBER: 1089230
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 July 2025
for
Koolesh Shah Family Foundation
Grant Harrod Lerman Davis LLP Chartered Accountants Second Floor, Kirkland House 11-15 Peterborough Road Harrow Middlesex HA1 2AX
Docusign Envelope ID: F608E184-0F14-80A3-823D-765044D75C2B
Koolesh Shah Family Foundation
Contents of the Financial Statements for the year ended 31 July 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 10 |
Docusign Envelope ID: F608E184-0F14-80A3-823D-765044D75C2B
Koolesh Shah Family Foundation
Report of the Trustees for the year ended 31 July 2025
The trustees present their report with the financial statements of the charity for the year ended 31 July 2025. The trustees have adopted the provisions of 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 2019).
Executive Summary
The 2025-2026 period has been a landmark year for the Koolesh Shah Family Foundation, defined by significant public recognition and the strategic expansion of our "three pillars": Philanthropy, Technology, and Real Estate. Under the dedicated leadership of Dr. Koolesh Shah, the Foundation has successfully leveraged the commercial success of the London Town Group to drive measurable social impact on a global scale.
A primary highlight of this reporting cycle was the conferment of an Honorary Doctorate of Civil Law upon Dr. Shah by the University of East Anglia in Summer 2025. This prestigious honor recognizes his outstanding contributions to entrepreneurship, philanthropy, and community development, reflecting his journey from a pioneering student at the university to a global visionary.
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Docusign Envelope ID: F608E184-0F14-80A3-823D-765044D75C2B
Koolesh Shah Family Foundation
Report of the Trustees for the year ended 31 July 2025
ACHIEVEMENTS AND PERFORMANCE Charitable activities Philanthropy & Community Impact
The Foundation operates under a rigorous, expert-reviewed decision-making process to ensure that funding is allocated to under-resourced areas where it can achieve the greatest impact. Our mission remains centered on education, health, and the eradication of homelessness.
UK Initiatives: Empowering the Next Generation
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Youth & Education Partnership: We have established a robust partnership with the Young Westminster Foundation (YWF). This collaboration focuses on creating a lasting impact in the lives of Westminster's youth by fostering educational opportunities, promoting mental well-being, and encouraging personal growth through community-led programs.
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Bridging the Higher Education Gap: In May 2025, the Holiday Inn Leicester Wigston, a London Town Group property hosted the Oxford University Outreach Team. This event targeted students from Leicestershire, Derbyshire, and the wider Midlands, providing them with direct access to academic mentors to inspire high-level academic ambition.
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Mentorship and Professional Development: with support of our partnership with Making The Leap (MTL), they delivered over 2,150 mentoring hours across 26 London schools. Dr. Koolesh Shah personally provides mentoring, offering interview preparation and work experience to young participants to improve social mobility.
UK Initiatives: Social Welfare and Health
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Addressing the Homelessness Crisis: Our ongoing support for Framework Nottingham is currently centered on the "Building Better Futures" appeal, which aims to develop 200 new homes for rough sleepers by April 2026.
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Emergency Accommodation and Specialist Care: The Foundation continues to support St Mungo's, a leading charity providing beds for over 3,150 people nightly, and Open Homes' Nottingham Nightstop project, which offers emergency accommodation in the homes of trained volunteers.
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Healthcare Excellence: Since 2002, the Foundation has provided continuous funding to Leicester Hospitals Charity, enhancing the hospital experience for over 1 million patients and visitors annually.
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Celebrating Cultural Contributions: We were proud sponsors of Eastern Eye's Arts, Culture and Theatre Awards (ACTAs). This initiative recognizes the profound impact of British Asian talent on the UK's cultural landscape.
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Blind in Business: We are delighted to support Blind in Business, an organization founded by blind graduates that helps visually impaired students transition from education into high-level employment.
International Philanthropy: Global Reach
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Education and Rehabilitation in Kenya: Through a long-standing partnership with IAfrika, the Foundation supports the education of over 5,000 children in Nairobi. This includes the development of a junior high school serving pastoralist communities and providing a safe home for former street children.
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Sustainable Infrastructure: We successfully funded the drilling of a community borehole in Kenya. This facility delivers 14,400 litres of water per hour, supporting foster homes, schools, and local community centers.
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Spiritual and Cultural Heritage: As Chairman of the Sri Aurobindo Trust, Dr. Shah continues his father's legacy by supporting the Matrimandir in Auroville. The Trust also funds permanent exhibitions that attract over 70,000 visitors annually, promoting the philosophy of Sri Aurobindo and The Mother.
International & Spiritual Work
- Kenya Outreach: Through partnerships with IAfrika, the Foundation supports street children in Nairobi with holistic care, education, and safe housing.
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Docusign Envelope ID: F608E184-0F14-80A3-823D-765044D75C2B
Koolesh Shah Family Foundation
Report of the Trustees for the year ended 31 July 2025
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Clean Water: We recently funded the drilling of a new borehole on the I Afrika property, delivering essential water resources to the community.
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Sri Aurobindo Trust: As Chairman, Dr Shah continues to support the Matrimandir in Auroville and permanent exhibitions attracting 70,000+ visitors annually.
Public Service
London Town Group continues to manage a national portfolio of over 1,000 hotel bedrooms and 100 properties with a total acquisition value exceeding £600 million.
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Political Engagement: In 2025, Dr Shah and Sir Oliver Dowden were appointed Co-Chairs of Conservative Friends of India (CF India). They hosted the 2025 Summer Reception featuring David Cameron, celebrating UK-India ties.
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Community Infrastructure: The Foundation contributed to the dining room extension at the Navnat Vanik Association UK, further supporting local community facilities.
Awards & Recognition (2024-2025)
The Foundation's commitment to social entrepreneurship has been recognized by several prestigious bodies:
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Honorary Doctorate 2025: University of East Anglia.
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Social Entrepreneur of the Year 2024: GG2 Leadership & Diversity Awards.
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Philanthropy Award: Asian Business Awards.
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Leadership Finalist: Shortlisted for the East Midlands Leadership Awards.
Looking Forward
In 2026, the Foundation remains committed to its founder's vision of a "new and better world," balancing commercial excellence in property and tech with a profound commitment to human welfare, education, and spiritual philosophy.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1089230
Principal address
8-14 Talbot Square London W2 1TS
Trustees
Koolesh Dhiru Shah Kavita Doshi Nikhil Koolesh Dhiru Shah
Independent Examiner
Grant Harrod Lerman Davis LLP Chartered Accountants Second Floor, Kirkland House 11-15 Peterborough Road Harrow Middlesex HA1 2AX
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Docusign Envelope ID: F608E184-0F14-80A3-823D-765044D75C2B
Koolesh Shah Family Foundation
Report of the Trustees for the year ended 31 July 2025
07-05-2026 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
[Sbale] ........................................................................ |[bpoleste] CD7F6E040204480...DocuSigned by: Koolesh Dhiru Shah - Trustee
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Independent Examiner's Report to the Trustees of Koolesh Shah Family Foundation
Independent examiner's report to the trustees of Koolesh Shah Family Foundation
I report to the charity trustees on my examination of the accounts of Koolesh Shah Family Foundation (the Trust) for the year ended 31 July 2025.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 understanding of the accounts to be reached.
Jeremy Harrod FCCA
Grant Harrod Lerman Davis LLP Chartered Accountants Second Floor, Kirkland House 11-15 Peterborough Road Harrow Middlesex HA1 2AX 11-05-2026 Date: .............................................
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Docusign Envelope ID: F608E184-0F14-80A3-823D-765044D75C2B
Koolesh Shah Family Foundation
Statement of Financial Activities for the year ended 31 July 2025
| 2025 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 100,000 EXPENDITURE ON Raising funds 3,364 Charitable activities Charitable activites 100 Total 3,464 NET INCOME/(EXPENDITURE) 96,536 RECONCILIATION OF FUNDS Total funds brought forward 17,570 TOTAL FUNDS CARRIED FORWARD 114,106 |
2024 Total funds £ - - 956 956 (956) 18,526 17,570 |
|---|---|
The notes form part of these financial statements
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Docusign Envelope ID: F608E184-0F14-80A3-823D-765044D75C2B
Koolesh Shah Family Foundation
Balance Sheet 31 July 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Cash at bank | 114,106 | 17,570 | |
| NET CURRENT ASSETS | 114,106 | 17,570 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 114,106 | 17,570 | |
| NET ASSETS | 114,106 | 17,570 | |
| FUNDS | 4 | ||
| Unrestricted funds | 114,106 | 17,570 | |
| TOTAL FUNDS | 114,106 | 17,570 |
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 07-05-2026
............................................. CD7F6E040204480... Koolesh Dhiru Shah - Trustee
The notes form part of these financial statements
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Docusign Envelope ID: F608E184-0F14-80A3-823D-765044D75C2B
Koolesh Shah Family Foundation
Notes to the Financial Statements for the year ended 31 July 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2025 nor for the year ended 31 July 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 July 2025 nor for the year ended 31 July 2024.
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| EXPENDITURE ON | |
| Charitable activities | |
| Charitable activites | 956 |
| NET INCOME/(EXPENDITURE) | (956) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 18,526 |
continued...
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Docusign Envelope ID: F608E184-0F14-80A3-823D-765044D75C2B
Koolesh Shah Family Foundation
Notes to the Financial Statements - continued for the year ended 31 July 2025
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| TOTAL FUNDS CARRIED FORWARD 4. MOVEMENT IN FUNDS At 1.8.24 £ Unrestricted funds General fund 17,570 TOTAL FUNDS 17,570 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 100,000 TOTAL FUNDS 100,000 Comparatives for movement in funds At 1.8.23 £ Unrestricted funds General fund 18,526 TOTAL FUNDS 18,526 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund - TOTAL FUNDS - |
Unrestricted fund £ 17,570 Net movement At in funds 31.7.25 £ £ 96,536 114,106 96,536 114,106 Resources Movement expended in funds £ £ (3,464) 96,536 (3,464) 96,536 Net movement At in funds 31.7.24 £ £ (956) 17,570 (956) 17,570 Resources Movement expended in funds £ £ (956) (956) (956) (956) |
|---|---|
continued...
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Docusign Envelope ID: F608E184-0F14-80A3-823D-765044D75C2B
Koolesh Shah Family Foundation
Notes to the Financial Statements - continued for the year ended 31 July 2025
4. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.8.23 | in funds | 31.7.25 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 18,526 | 95,580 | 114,106 |
| TOTAL FUNDS | 18,526 | 95,580 | 114,106 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 100,000 100,000 |
Resources Movement expended in funds £ £ (4,420) 95,580 (4,420) 95,580 |
Resources Movement expended in funds £ £ (4,420) 95,580 (4,420) 95,580 |
|---|---|---|---|
| 95,580 |
5. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2025.
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