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← P H Holt Foundation

2025-03-31-accounts

COMPANY LIMITED BY GUARANTEE

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Elspeth Chris�e Lesley Mar�n­Wright Ian Ma�hews Kenneth Ravenscro� Caroline Grant (Appointed 14 June 2024) Andrew Cross (Appointed 14 June 2024) Deborah Mills­Burns (Appointed 14 June 2024) Neil Turner (Appointed 20 September 2024) David MacLeod (Appointed 29 August 2025) Barbara McDonough (Appointed 20 September 2024) John Sacker (Appointed 20 September 2024) Secretary Elspeth Chris�e Administrator Lifa Zvimbande Email administrator@phhol6ounda�on.org.uk Telephone and fax 0151 237 2663 Website www.phhol6ounda�on.org.uk Charity number 1113708 Company number 5731598 Registered office 151 Dale Street Liverpool L2 2AH Auditor Mitchell Charlesworth (Audit) Limited Suites C,D,E & F 14th Floor The Plaza 100 Old Hall Street Liverpool L3 9QJ Bankers Barclays Bank Plc 1 Churchill Place London E14 5HP Enterprise Credit Union Hall Lane Huyton Merseyside L36 6AX

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATIVE INFORMATION

Bankers (con nued) Shawbrook Bank
Lutea House
Warley Hill Business Park
Great Warely
Brentwood
Essex
CM13 3BE
Solicitors Brabners LLP
Horton House
Exchange Flags
Liverpool
L2 3YL
Investment Managers Evelyn Partners
45 Gresham Street
London
EC2V 7BG

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE CONTENTS

Page
Chairperson's statement 1
Trustees' report 2 ­ 6
Statement of Trustees' responsibili�es 7
Independent auditor's report 8 ­ 11
Statement of fnancial ac�vi�es 12 ­ 14
(Including income and expenditure account)
Balance sheet 15
Notes to the fnancial statements 16 ­ 28

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE CHAIRPERSON'S STATEMENT

FOR THE YEAR ENDED 31 MARCH 2025

  1. These two were also merged to further streamline the process of grants payments and management.

that have been

..............................

Chair

08/12/2025

Date: .........................

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accoun�ng policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Companies Act 2006 and "Accoun�ng and Repor�ng by Chari�es: Statement of Recommended Prac�ce applicable to chari�es preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102)" (effec�ve 1 January 2019).

Objec�ves and ac�vi�es

The P H Holt Founda�on is a registered charity, number 1113708, and charitable company incorporated on 6 March 2006. The objects of the Charity are to acquire "all the assets and undertaking (including all liabili�es) of the P H Holt Charitable Trust (as originally declared by a deed of Trust, dated 15 February 1955) (the "Trust") and then to apply the investments and other assets of the Charity from �me to �me, whether arising from the aforesaid acquisi�on or otherwise, and whether income or capital, for charitable purposes in the United Kingdom of Great Britain and Northern Ireland, and elsewhere as the Charity in its absolute discre�on shall think fit, to the intent that, but withoutprejudice to the generality of the foregoing, the principal area of ac�vity of the Charity shall be the Merseyside area".

The P H Holt Founda�on also acts as sole Corporate Trustee to Holt Educa�on Trust, established by Trust Deed on 11 June 1915, "for the promo�on and encouragement of higher educa�on among the inhabitants of the City of Liverpool, and the Hundred of West Derby and the Hundred of Wirral".

The origins of both chari�es derive from the mari�me endeavours of Philip Henry Holt, who in 1865, together with his brother Alfred, founded the Ocean Steam Ship Company Limited in Liverpool. The Company flourished across five con�nents and for over a century gained widespread acclaim as one of the largest merchant shipping fleets in the UK.

In the 1980's the company moved its headquarters to London, whereupon the Founda�on became sole beneficiary of Ocean Steam Ship's collec�on of nau�cal memorabilia comprising; pain�ngs, ship models, historical documents, and seafaring artefacts. These are on permanent display at the Merseyside Mari�me Museum in the Royal Albert Dock, and shed light on the mari�me heritage of Liverpool as the world's busiest trading port.

Philip Holt had dis�nct philanthropic interests during his life�me. The Founda�on works to carry on Philip's social concerns by suppor�ng ini�a�ves that are reflective of his civic values, and allow people to make a real difference to the communi�es in which they live and work.

The P H Holt Founda�on awards grants according to five priority themes, and which help communi�es and charitable organisa�ons create a beDer future for the people of Merseyside.

In taking this broad approach to its ac�vi�es, the Trustees confirm that they have had regard to the Charity Commission's general guidance on public benefit.

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance

During the year ended 31 March 2025, the P H Holt Founda�on received 116 grant applica�ons totalling £1,234,285. Of these 67 (2024 ­ 74) Merseyside chari�es were provided with funding of £618,285 (2024 ­ £550,135), The Founda�on con�nued its staunch support of Merseyside chari�es, largely small and medium sized organisa�ons working with children, young people, and adults to improve their health, well­being and to remain connected to their local community. The Founda�on greatly values the strength of local grass roots groups in reaching into the heart of neglected and disadvantaged areas across the region.

The average grant for the year ended 31 March 2025 was £9,228 (2024 ­ £7,329) as we saw higher demand from chari�es seeking salary and core costs.

Holt Educa�on Trust was able to provide bursaries to 28 (2024 ­ 28) students at University of Liverpool, Liverpool John Moore’s University and Liverpool Hope University reading for social science, nau�cal and engineering degrees. A total of £44,850 (2024 ­ £30,000) was distributed to these students, the average grant being £1,602 (2024­ £1,071).

The programme,which has been running for almost a decade, provides funding to students from low income families across the region, and the Trust receives exemplary support from both ins�tu�ons who manage student recruitment, payments and repor�ng.

Discussions for the academic year 2025­26 with Liverpool John Moores and Hope University resume in Autumn 2025 for promo�on commencing December/January and interviews and awards in February/March 2026. University of Liverpool students were awarded three­year bursaries therefore the next recruitment will be held in 2027.

Further details of the categories of public benefit delivered by the organisa�ons assisted by The P H Holt Founda�on are set out in notes 6 and 7 to the Financial Statements.

Financial review

The results for the year ending 31 March 2025, are set out in the Statement of Financial Ac�vi�es on page 12.

Total incoming resources from investments and interest were £327,807 for 2024/25, down from £415,171 for 2023/24.

The charity was able to increase the value of grant awards for 2024/25 from £580,135 in 2023/4 to £663,135 for 2024/25.

Investments generated an overall posi�ve return of £902,809 and following an overall posi�ve return of £823,851 for 2023/24 which was caused by the vola�lity affec�ng equity markets at the �me.

There was an overall addi�on of £396,099 (addi�on of £679,817 for 2023/24) to the value of the funds held by the charity.

For 2024/25, the net closing asset posi�on came to £23,948,917 (£23,552,818 : 2023/24), the increase being largely a?ributable to the investment gains reported above.

Reserves

We inherit from the Trustees of P H Holt Charitable Trust an awareness of our obliga�on to balance the needs of current and future charitable beneficiaries. The Charity funds expenditure from investments and has the freedom to spend both income and capital, provided the core endowment of the Holt Educa�on Trust is preserved.

The Trustees do not consider the underlying capital to be reserves since they form the sole source of revenue for the Founda�on and the investments held provide a rela�vely secure and stable stream of income from which to make grants.

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Fund Structure, Investment Policy and Performance

Unrestricted Fund

Under the terms of its Memorandum and Ar�cles of Associa�on, P H Holt Founda�on may spend capital, as well as income, for charitable purposes in the United Kingdom and elsewhere. The accumulated funds of the Charity are therefore unrestricted funds for the purposes of charity law. Transfers are made from investments to current assets, as and when liabili�es or requirements fall due.

Our investment objec�ve is to preserve the value of capital in real terms to sustain our long­term grant­making and future ac�vi�es. Our investments with Ruffer LLP, Troy Asset Management Limited and Kennox Asset Management Limited are held in composite funds managed by Evelyn Partners. We have confidence in our Investment Managers’ abili�es to look a1er our funds wisely in ever changing financial markets and are sa�sfied with their performance.

Endowed Funds

In accordance with the Trust Deed, income from Holt Educa�on Trust can be used only for specifiededuca�onal purposes and its capital is restricted as a permanent endowment in charity law. The Holt Educa�on Trust endowment is managed in a segregated por3olio with balanced investment objec�ves. We are sa�sfied that the Manager at Evelyn Partners in Liverpool meets these objec�ves.

Restricted Funds

Restricted funds represent those monies given to the charity for a par�cular purpose and were not available for the general purpose of the charity. The charity maintains two restricted funds, as detailed in note 19.

The Holt Educa�on Trust fund represents income generated from the Endowment fund of the same name which, in accordance with the Trust Deed, can only be used for specified educa�onal purposes.

The Charles Woo6on fund represents amounts received following the liquida�on of The Charles Woo6on College for Further Educa�on Limited and distributed in accordance with the original mandate to the people of black ethnic background living in Liverpool 8 with an educa�onal purpose.

Risk Management

The Trustees con�nually review the major strategic, business, and opera�onal risks to which the Charity could be exposed and have an agreed risk assessment policy to mi�gate significant risks. A formal review of performance against the iden�fied risks is conducted annually, repor�ng into the Board. The Trustees are sa�sfied that the system of internal controls and ongoing reviews currently in place is adequate.

Key Risks include:

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Our monitoring process and rou�ne visits by Trustees and the Administrator minimise changes taking place without the Founda�on's approval. A final progress report from each grantee enables further monitoring of achievements against the original applica�on.

There were no serious incidents recorded during the year ended 31 March 2025.

Future plans

In addi�on to con�nuing with our normal grant making ac�vi�es the Trustees agreed to set aside £2.5 million towards an Ac�on on Abuse project. A Steering group has been set up, a separate applica�on form created and integrated into the grant management system, Salesforce, as well as a page created on the P H Holt Founda�on website to manage the grants process. This year, an accoun�ng system, Xero was introduced and integrated into the grant management system, Salesforce. This has streamlined our administra�on and accoun�ng and will allow the Charity more �me and resources to engage more with Chari�es and other stakeholders.

Structure, governance and management

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:

Elspeth Chris�e Amy de Joia (Resigned 31 March 2025) Michael Furniss (Resigned 30 June 2025) Nigel Lanceley DL, FCA (Resigned 31 March 2025) Natan Levy (Resigned 20 September 2024) Lesley Mar�n­Wright Ian Ma?hews Kenneth Ravenscro" Caroline Grant (Appointed 14 June 2024) Andrew Cross (Appointed 14 June 2024) Deborah Mills­Burns (Appointed 14 June 2024) Neil Turner (Appointed 20 September 2024) David MacLeod (Appointed 29 August 2025) Barbara McDonough (Appointed 20 September 2024) John Sacker (Appointed 20 September 2024) Alice Po?er (Appointed 20 September 2024 and resigned 4 March 2025) Peter Woods (Appointed 29 August 2025 and resigned 5 September 2025)

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

be re­appointed subject to various safeguards.

be&er understanding of a charity’s request.

Auditor

Disclosure of informa'on to auditor

Small company provisions

Companies Act 2006.

The Trustees' report was approved by the Board of Trustees.

..............................

Trustee

08/12/2025

Dated: .........................

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2025

The Trustees, who are also the directors of P. H. Holt Founda�on for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accoun�ng Standards (United Kingdom Generally Accepted Accoun�ng Prac�ce).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and applica�on of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Trustees are required to:

­ select suitable accoun�ng policies and then apply them consistently;

­ observe the methods and principles in the Chari�es SORP;

­ make judgements and es�mates that are reasonable and prudent;

­ state whether applicable UK Accoun�ng Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

­ prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will con�nue in opera�on.

The Trustees are responsible for keeping adequate accoun�ng records that disclose with reasonable accuracy at any �me the financial posi�on of the Charity 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 Charity and hence for taking reasonable steps for the preven�on and detec�on of fraud and other irregulari�es.

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF P. H. HOLT FOUNDATION

Opinion

We have audited the financial statements of P. H. Holt Founda�on (the ‘Charity’) for the year ended 31 March 2025 which comprise the statement of financial ac�vi�es, the balance sheet and notes to the financial statements, including significant accoun�ng policies. The financial repor�ng framework that has been applied in their prepara�on is applicable law and United Kingdom Accoun�ng Standards, including Financial Repor�ng Standard 102 The Financial Repor�ng Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accoun�ng Prac�ce).

Basis for opinion

We conducted our audit in accordance with Interna�onal Standards on Audi�ng (UK) (ISAs (UK)) and applicable law. Our responsibili�es under those standards are further described in the Auditor's responsibili�es for the audit of the financial statements sec�on of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibili�es in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions rela#ng to going concern

In audi�ng the financial statements, we have concluded that the Trustees' use of the going concern basis of accoun�ng in the prepara�on of the financial statements is appropriate.

Based on the work we have performed, we have not iden�fied any material uncertain�es rela�ng to events or condi�ons that, individually or collec�vely, may cast significant doubt on the Charity’s ability to con�nue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibili�es and the responsibili�es of the Trustees with respect to going concern are described in the relevant sec�ons of this report.

Other informa#on

The other informa�on comprises the informa�on included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other informa�on contained within the annual report. Our opinion on the financial statements does not cover the other informa�on and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connec�on with our audit of the financial statements, our responsibility is to read the other informa�on and, in doing so, consider whether the other informa�on is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we iden�fy such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other informa�on, we are required to report that fact.

We have nothing to report in this regard.

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF P. H. HOLT FOUNDATION

Opinions on other ma$ers prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Ma$ers on which we are required to report by excep0on

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not iden�fied material misstatements in the directors' report included within the Trustees' report.

We have nothing to report in respect of the following ma%ers in rela�on to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibili0es of Trustees

As explained more fully in the statement of Trustees' responsibili�es, the Trustees, who are also the directors of the Charity for the purpose of company law, are responsible for the prepara�on of the financial statements and for being sa�sfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the prepara�on of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Charity’s ability to con�nue as a going concern, disclosing, as applicable, ma%ers related to going concern and using the going concern basis of accoun�ng unless the Trustees either intend to liquidate the charitable company or to cease opera�ons, or have no realis�c alterna�ve but to do so.

Auditor's responsibili0es for the audit of the financial statements

Our objec�ves are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregulari�es, including fraud, are instances of non­compliance with laws and regula�ons. We design procedures in line with our responsibili�es, outlined above, to detect material misstatements in respect of irregulari�es, including fraud. The extent to which our procedures are capable of detec�ng irregulari�es, including fraud, is detailed below.

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF P. H. HOLT FOUNDATION

The extent to which the audit was considered capable of detec+ng irregulari+es, including fraud

Our approach to iden�fying and assessing the risks of material misstatement in respect of irregulari�es, including fraud and non­compliance with laws and regula�ons, was as follows:

We assessed the suscep�bility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregulari�es and non­compliance with laws and regula�ons, we designed procedures which included, but were not limited to:

There are inherent limita�ons in our audit procedures described above. The more removed that laws and regula�ons are from financial transac�ons, the less likely it is that we would become aware of non­compliance. Audi�ng standards also limit the audit procedures required to iden�fy non­compliance with laws and regula�ons to enquiry of the directors and other management and the inspec�on of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further descrip�on of our responsibili�es is available on the Financial Repor�ng Council’s website at: h0ps:// www.frc.org.uk/auditorsresponsibilities. This descrip�on forms part of our auditor's report.

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF P. H. HOLT FOUNDATION

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those ma$ers we are required to state to them in an auditors' report and for no other purpose. To the fu l est extent permi$ed by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Anita Mason BA (Hons) BFP FCA (Senior Statutory Auditor) for and on behalf of Mitchell Charlesworth (Audit) Limited Accountants Statutory Auditor

.........................

Suites C,D,E & F 14th Floor The Plaza 100 Old Hall Street Liverpool L3 9QJ

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Current fnancial year Current fnancial year Current fnancial year Current fnancial year
Unrestricted Designated Restricted Endowment Total Total
funds funds funds funds
general
2025 2025 2025 2025 2025 2024
Notes £ £ £ £ £ £
Income from:
Dona�ons and legacies 3 ­ ­ ­ ­ ­ 96,422
Investments 4 310,471 ­ 17,336 ­ 327,807 415,171
Total income 310,471 ­ 17,336 ­ 327,807 511,593
Expenditure on:
Raising funds 5 44,681 ­ 6,604 ­ 51,285 20,008
Charitable ac� vi� es
Grant making
6 723,382 ­ 59,850 ­ 783,232 635,414
Total charitable expenditure 723,382 ­ 59,850 ­ 783,232 635,414
Loss on disposal of
tangible fxed assets ­ ­ ­ ­ ­ 205
Total expenditure 768,063 ­ 66,454 ­ 834,517 655,627
Net gains (losses) on
investments 11 903,123 ­ ­ (314) 902,809 823,851
Net income (expenditure)
before transfers 445,531 ­ (49,118) (314) 396,099 679,817
Gross transfers between
funds 18, 20 (2,492,490) 2,500,000 ­ (7,510) ­ ­
Net movement in funds (2,046,959) 2,500,000 (49,118) (7,824) 396,099 679,817
Fund balances at 1 April
2024 22,740,403 ­ 141,676 670,739 23,552,818 22,873,001
Fund balances at 31
March 2025 20,693,444 2,500,000 92,558 662,915 23,948,917 23,552,818

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

The movement in funds detailed above complies with the requirements for a statement in changes in equity in FRS102.

The statement of financial ac!vi!es includes all gains and losses recognised in the year. All income and expenditure derive from con!nuing ac!vi!es.

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Prior financial year

Unrestricted Restricted Endowment Total
funds funds funds as restated
2024 2024 2024 2024
Notes £ £ £ £
Income from:
Dona�ons and legacies 3 ­ 96,422 ­ 96,422
Investments 4 394,657 20,514 ­ 415,171
Total income 394,657 116,936 ­ 511,593
Expenditure on:
Raising funds 5 14,302 5,706 ­ 20,008
Charitable ac� vi� es
Grant making
6 605,414 30,000 ­ 635,414
Total charitable expenditure 605,414 30,000 ­ 635,414
Loss on disposal of tangible fxed assets 205 ­ ­ 205
Total expenditure 619,921 35,706 ­ 655,627
Net losses on investments 11 780,239 ­ 43,612 823,851
Net expenditure before transfers 554,975 81,230 43,612 679,817
Gross transfers between funds 18, 19 (24,294) 24,783 (489) ­
Net movement in funds 530,681 106,013 43,123 679,817
Fund balances at 1 April 2023 22,209,722 35,663 627,616 22,873,001
Fund balances at 31 March 2024 22,740,403 141,676 670,739 23,552,818

The movement in funds detailed above complies with the requirements for a statement in changes in equity in FRS102.

The statement of financial ac�vi�es includes all gains and losses recognised in the year. All income and expenditure derive from con�nuing ac�vi�es.

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE BALANCE SHEET

AS AT 31 MARCH 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 13 450 450
Investments 14 23,766,111 22,605,335
23,766,561 22,605,785
Current assets
Debtors 15 26,024 173,305
Cash at bank and in hand 193,676 798,608
219,700 971,913
Creditors: amounts falling due within one
year 17 (37,344) (24,880)
Net current assets 182,356 947,033
Total assets less current liabili3es 23,948,917 23,552,818
Capital funds
Endowment funds 18 662,915 670,739
Income funds
Restricted funds 19 92,558 141,676
Designated funds 20 2,500,000 ­
Unrestricted funds 20,693,444 22,740,403
23,948,917
~~-~~		 23,552,818
~~-~~

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

08/12/2025 The financial statements were approved by the Trustees on ......................... (pwr 7,

..............................

Elspeth Chris1e

Trustee

Company Registra3on No. 5731598

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1 Accoun3ng policies

Charity informa3on

P. H. Holt Founda�on is a private company limited by guarantee incorporated in England and Wales. The registered office is 151 Dale Street, Liverpool, L2 2AH.

1.1 Accoun3ng conven3on

The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006, FRS 102 “The Financial Repor�ng Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Chari�es SORP "Accoun�ng and Repor�ng by Chari�es: Statement of Recommended Prac�ce applicable to chari�es preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102)" (effec�ve 1 January 2019). The Charity is a Public Benefit En�ty as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for chari�es not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the func�onal currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost conven�on, modified to include the revalua�on of certain financial instruments at fair value. The principal accoun�ng policies adopted are set out below.

1.2 Going concern

At the �me of approving the financial statements, the Trustees have a reasonable expecta�on that the Charity has adequate resources to con�nue in opera�onal existence for the foreseeable future. Thus the Trustees con�nue to adopt the going concern basis of accoun�ng in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discre�on of the Trustees in furtherance of their charitable objec�ves unless the funds have been designated for other purposes.

Restricted and endowed funds are funds that are to be used in accordance with specific restric�ons.

Restricted and Endowed funds

In accordance with the Trust Deed, income of Holt Educa�on Trust can be used only for specified educa�onal purposes and its capital is restricted as a permanent endowment fund in charity law.

Unrestricted funds

Under the terms of its Memorandum of Associa�on, P.H. Holt Founda�on may spend capital as well as income for charitable purposes in the United Kingdom and elsewhere. The accumulated funds of the Charity are therefore unrestricted funds for the purposes of charity law. Transfers are made from investments to current assets as and when liabili�es fall due.

Designated funds

Designated funds comprise funds which have been set aside at the discre�on of the Trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the Charity is legally en�tled to it aBer any performance condi�ons have been met, the amounts can be measured reliably, and it is probable that income will be received.

Investment income, including dividend income, is recognised in the year in which it is receivable.

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

1 Accoun�ng policies

(Con�nued)

1.5 Expenditure

Expenditure is recognised once there is a legal or construc�ve obliga�on to make a payment to a third party, it is probable that se�lement will be required, and the amount of the obliga�on can be measured reliably.

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Where possible, expenditure is directly allocated to appropriate categories. The remaining expenditure is appor�oned in accordance with a formula which the Trustees consider corresponds realis�cally to the use of staff �me and other resources.

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

Grants payable

Future grant commitments are fully provided for in the year in which the commitment is made. In the case of an uncondi�onal grant this is accrued once the recipient has been no�fied of the grant award.

1.6 Tangible fixed assets

Tangible fixed assets are ini�ally measured at cost and subsequently measured at cost or valua�on, net of deprecia�on and any impairment losses. Donated assets are recognised and valued at Trustees' es�mate of value at the date of dona�on.

Deprecia�on is not charged on pictures and historic assets held by the charity.

1.7 Fixed asset investments

Investments are a form of basic financial instrument and are ini�ally recognised at their transac�on value and subsequently measured at closing mid­market value at the balance sheet date. Any realised and unrealised gains and losses on revalua�on or disposals are included in the Statement of Financial Ac�vi�es.

The main form of financial risk faced by the Charity is that of vola�lity in equity markets and investment markets due to wider economic condi�ons, the a,tude of investors to investment risk and changes in sen�ment concerning equi�es.

Income from investments, including dividend income, is included together with the related tax credit, in the year in which it is receivable.

Interest on funds held on deposit is recognised when receivable, and the amount can be recognised reliably by the charity; this is normally upon no�fica�on of the interest paid or payable by the bank.

1.8 Impairment of fixed assets

At each repor�ng end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indica�on that those assets have suffered an impairment loss. If any such indica�on exists, the recoverable amount of the asset is es�mated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short­term liquid investments with original maturi�es of three months or less, and bank overdra0s. Bank overdra0s are shown within borrowings in current liabili�es.

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

1 Accoun�ng policies

(Con�nued)

1.10 Financial instruments

The Charity only enters into basic financial instrument transac�ons that result in the recogni�on of financial assets and liabili�es such as trade and other debtors and creditors

Financial assets that are measured at cost and amor�sed cost are assessed at the end of each repor�ng period for objec�ve evidence of impairment. If objec�ve evidence of impairment is found, an impairment loss is recognised in the Statement of Financial Ac�vi�es.

For financial assets measured at amor�sed cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of es�mated cash flows discounted at the asset's original effec�ve interest rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best es�mate of the amount that the Charity would receive for the asset if it were to be sold at the balance sheet date.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are ini�ally measured at transac�on price including transac�on costs and are subsequently carried at amor�sed cost using the effec�ve interest method unless the arrangement cons�tutes a financing transac�on, where the transac�on 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 amor�sed.

Basic financial liabili�es

Basic financial liabili�es, including creditors and bank loans are ini�ally recognised at transac�on price unless the arrangement cons�tutes a financing transac�on, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabili�es classified as payable within one year are not amor�sed.

Debt instruments are subsequently carried at amor�sed cost, using the effec�ve interest rate method.

Trade creditors are obliga�ons to pay for goods or services that have been acquired in the ordinary course of opera�ons from suppliers. Amounts payable are classified as current liabili�es if payment is due within one year or less. If not, they are presented as non­current liabili�es. Trade creditors are recognised ini�ally at transac�on price and subsequently measured at amor�sed cost using the effec�ve interest method.

Derecogni�on of financial liabili�es

Financial liabili�es are derecognised when the Charity’s contractual obliga�ons expire or are discharged or cancelled.

2 Cri�cal accoun�ng es�mates and judgements

In the applica�on of the Charity’s accoun�ng policies, the Trustees are required to make judgements, es�mates and assump�ons about the carrying amount of assets and liabili�es that are not readily apparent from other sources. The es�mates and associated assump�ons are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these es�mates.

The es�mates and underlying assump�ons are reviewed on an ongoing basis. Revisions to accoun�ng es�mates are recognised in the period in which the es�mate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no key es�mates included in these accounts.

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

3 Dona�ons and legacies

Restricted
funds
2025 2024
£ £
Dona�ons and gi�s ­ 96,422

The dona�ons received during the year is £Nil. Dona�ons in the prior year arose from the distribu�on of the funds of the Charles Woo%on Fund. The dona�on will be fully applied once suitable beneficiaries have been iden�fied.

4 Income from investments

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Dividends ­ Listed
investment funds and
equi�es 291,238 16,354 307,592 390,934 20,514 411,448
Bank interest 19,233 982 20,215 3,723 ­ 3,723
310,471 17,336 327,807 394,657 20,514 415,171

5 Raising funds

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Investment management 44,681 6,604 51,285 14,302 5,706 20,008
44,681 6,604 51,285 14,302 5,706 20,008

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

6 Charitable ac�vi�es

Total Total
2025 2024
£ £
Stafng 38,659 24,732
Ofce costs 28,565 9,464
67,224 34,196
Grant funding of ac�vi�es 663,135 580,135
Share of governance costs (see note 8) 52,873 21,083
783,232 635,414
Analysis by fund
Unrestricted funds 723,382 605,414
Restricted funds (all grant funding) 59,850 30,000
783,232 635,414

The rise in office costs reflects the increased one off IT expenditure in the year. This includes the set up and integra�on of the Charity's new grant management so2ware and accoun�ng system. This level of expenditure is not expected to be incurred in future periods.

The rise in Governance costs include a specific invoice of £12,000 from John Moores University that related to the ini�al work crea�ng the Ac�on on Abuse Fund. This should not be repeated in future years.

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

6 Charitable ac"vi"es

(Con"nued)

Grants to ins"tu"ons may be categorised as follows:

2025 2024
£ £
Programme­related grants
Community and Overcoming Barriers 516,530 459,680
Engagement in the Arts 71,755 63,000
Access to Educa!on 15,000 24,500
Care of the Environment ­ 10,000
Charles Woo6on Fund 15,000 ­
Holt Educa"on Trust 44,850 30,000
Total grants awarded 663,135 587,180
Prior year grants returned:
Community and Overcoming Barriers ­ (7,045)
663,135 580,135

7 Grants payable

A total of 67 grants were awarded to ins!tu!ons for the year ended 31 March 2025 (2024 ­ 76). None of the grants were given directly to individuals in either financial year although grants were given to Chari!es for distribu!on to individuals.

The trustees have elected not to disclose a full list of the grant recipients for either financial year as they considered that none of the grants were individually material in the context of the charity's total charitable expenditure.

The amount of each grant award ranged from £2,500 to £18,000 for the year ended 31 March 2025 (2024 ­ £2,500 to £15,000).

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

8 Support costs

Support costs
Support costs Governance **2025 ** Support costs Governance 2024
costs costs
£ £ £ £ £ £
Accountancy ­ 600 600 ­ ­ ­
Professional fees ­ 20,255 20,255 ­ ­ ­
Audit fees ­ 9,540 9,540 ­ 9,264 9,264
Trustees' expenses ­ 70 70 ­ 420 420
Stafng ­ 12,886 12,886 ­ 8,244 8,244
Ofce costs ­ 9,522 9,522 ­ 3,155 3,155
­ 52,873 52,873 ­ 21,083 21,083
Analysed between
Charitable acvies ­ 52,873 52,873 ­ 21,083 21,083

Professional fees of £20,255 represents one off costs incurred during the financial year. This includes recruitments costs of £8,255, relang to the appointment of the new administrator, Lifa Zvimbande and consulng costs of £12,000 in respect of scoping of the statutory and non­statutory organisaons in Merseyside that deal with all aspects of Domesc violence/abuse with vic*ms and perpetrators.

9 Employees

There were no employees during the year. The key management personnel comprise the Trustees only.

10 Trustees

None of the Trustees (or any persons connected with them) received any remunera*on or benefits from the Charity during the year.

11 Net gains/(losses) on investments

Unrestricted Endowment Total Unrestricted Endowment Endowment Total
funds funds funds funds
general general
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Revalua*on of investments 804,750 (7,985) 796,765 1,771,530 61,951 1,833,481
Proft /(Loss) on sale of
investments 98,373 7,671 106,044 (991,291) (18,339)
(1,009,630)
903,123 (314) 902,809 780,239 43,612 823,851

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

(Con%nued)

In 2024 the loss on sale of investments (£991,291) occurred when the Trustees switched units in the Ruffer Fund. The no"onal sale was to transfer the holding to an iden"cal fund with lower charges. The investment principles remained the same and the loss was a result of the "ming of the switch.

12 Taxa%on

The Founda"on is a registered Charity, and as such is en"tled to certain tax exemp"ons on income and profits from investments if these profits are applied solely for charitable purposes.

The Charity is not registered for VAT and all expenditure is recorded inclusive of any VAT incurred.

13 Tangible fixed assets

Tangible fxed assets
Fixtures and f.ngs
£
Valua%on
At 1 April 2024 900
At 31 March 2025 900
Deprecia%on and impairment
At 1 April 2024 450
At 31 March 2025 450
Carrying amount
At 31 March 2025 450
At 31 March 2024 450

The above assets comprised pictures and artefacts that were gi/ed to the P. H. Holt Founda"on by the Trustees of P.H. Holt Charitable Trust and relate to Ocean Steam Ship Company, the Holt family shipping business.

In 2025, no further impairment of fixed assets are considered necessary.

The Mari"me Museum in Liverpool holds addi"onal historical artefacts which are covered by the Government's indemnity scheme arranged by Na"onal Museums Liverpool. As such, no value has been included in the accounts in respect of these assets.

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

14 Fixed asset investments

Listed
Cash
Cash		 in por(olio in por(olio Total
investments
£ £
At fair value
At 1 April 2024 22,595,711 9,624 22,605,335
Addi�ons 57,101 ­ 57,101
Cash movements ­ 2,763,942 2,763,942
Realised/Unrealised gains 902,810 ­ 902,810
Disposals (2,563,077) ­ (2,563,077)
At 31 March 2025 20,992,545 2,773,566 23,766,111
Carrying amount
At 31 March 2025 20,992,545 2,773,566 23,766,111
At 31 March 2024 22,595,711 9,624 22,605,335
15 Debtors
2025 2024
Amounts falling due within one year: £ £
Prepayments and accrued income 26,024 173,305
16 Financial instruments 2025 2024
£ £
Carrying amount of fnancial assets
Instruments measured at cost less impairment 212,862 958,611
Instruments measured at fair value through proft or loss 23,766,111 22,605,335
Carrying amount of fnancial liabili8es
Measured at amor�sed cost 37,344 24,880

All assets are valued at either cost or fair value, as set out in the accoun�ng policies. During the current accoun�ng period and prior year, no impairment of assets or amor�sa�on of liabili�es was considered necessary.

The charity's accoun�ng policy for financial instruments is set out in note 1.10.

17 Creditors: amounts falling due within one year

2025 2024
£ £
Accruals and deferred income 37,344 24,880

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

18 Endowment funds

Endowment funds represent assets which must be held permanently by the Charity. Income arising on the endowment funds can be used in accordance with the objects of the Charity and is included as restricted income. Any capital gains or losses arising on the assets form part of the fund. P.H. Holt Founda�on acts as sole corporate Trustee of the Holt Educa�on Trust Fund. In accordance with the Trust Deed, income from Holt Educa�on Trust can be used only for specified educa�onal purposes and its capital is restricted as a permanent endowment in charity law. The Holt Educa�on Trust endowment is managed in a segregated por$olio with balanced investment objec�ves. Income generated of £17,336 (2024: £20,514) was converted to restricted income during the year.

At 1 April 2024 At 1 April 2024 TransfersGains and losses TransfersGains and losses TransfersGains and losses TransfersGains and losses At 31 March At 31 March
2025
£ £ £ £
Permanent endowments
Holt Educa�on Trust 670,739 (7,510) (314) 662,915
Previous year (as restated) At 1 April 2023 TransfersGains and losses At 31 March
2024
£ £ £ £
Permanent endowments
Holt Educa�on Trust 627,616 (489) 43,612 670,739

In the 2024 and 2025, the above transfers of (£489) and (£7,510) respec�vely have been made between funds to reflect the actual value of assets making up the endowment fund. The endowment fund balances at 31 March 2024 and 2025 represented the fixed asset investments held by the charity in respect of the Holt Educa�on Trust (note 21).

The prior year has been restated to reflect a change in presenta�on of management charges incurred on Holt Educa�on Trust investments held with Evelyn Partners. These charges are to be allocated against the restricted income received from investments rather then the permanently endowed assets as this more accurately reflects how these charges are paid.

I

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

20 Designated funds

These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2024 Transfers At 31 March
2025
£ £ £
Ac�on on Abuse ­ 2,500,000 2,500,000

The P H Holt Founda�on Trustee Board approved a designated fund of £2.5 million in November 2024, to fund chari�es in the domes�c abuse sector. Grants will be made available to Merseyside based chari�es whose primary purpose is to provide support to those who are, or who have been affected by domes�c abuse.

Funds were transferred into a separate investment fund with Evelyn Partners in April 2025 and grants paid payments commenced in May 2025.

21 Analysis of net assets between funds

Unrestricted Unrestricted Designated Restricted Endowment Endowment Total
funds funds funds funds
2025 2025 2025 2025 2025
£ £ £ £ £
At 31 March 2025:
Tangible assets 450 ­ ­ ­ 450
Investments 20,603,196 2,500,000 ­ 662,915 23,766,111
Current assets/(liabili�es) 89,798 ­ 92,558 ­ 182,356
20,693,444 2,500,000 92,558 662,915 23,948,917
Unrestricted Designated Restricted Endowment Total
funds funds funds funds
2024 2024 2024 2024 2024
£ £ £ £ £
At 31 March 2024:
Tangible assets 450 ­ ­ ­ 450
Investments 21,934,596 ­ ­ 670,739 22,605,335
Current assets/(liabili�es) 805,357 ­ 141,676 ­ 947,033
22,740,403 ­ 141,676 670,739 23,552,818

P. H. HOLT FOUNDATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

22 Related party transac$ons

The Charity is a local grant provider which seeks to maintain close links with many parts of the Merseyside Community. Poten�al conflicts of interest can therefore arise from �me to �me. During the year, grants of £5,000 were made to the Royal Albert Dock Liverpool Charitable Founda�on, a charity under common Trusteeship. Amounts totalling £1,560 were also paid to Brabners LLP during the year for legal services in respect of its lease renewal and a new consultancy agreement. Brabners LLP is the employer of Elspeth Chris�e, Chair of the Board of Trustees. To mi�gate this conflict of interest, individual Trustees and their Administrator do not par�cipate in decisions when they could be perceived to be ac�ng other than in the sole interests of the Charity.

There were no further disclosable related party transac�ons during the year (2024 ­ none).

23 Legal Status

The Charity is a company limited by guarantee, whose registered office is 151 Dale Street, Liverpool, L2 2AH, and has no share capital. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.

Under the Company's Ar�cles of Associa�on, membership is open only to those individuals who are trustees of the charity or who are due to be appointed as trustees.

4 December 2025

Mitchell Charlesworth (Audit) Limited Suites C,D,E & F 14[th] Floor The Plaza 100 Old Hall Street Liverpool L3 9QJ

Dear Sirs

During the course of your audit of our financial statements for the year ended 31 March 2025, the following representations were made to you by management and trustees.

We confirm that in our opinion the financial statements give a true and fair view and in particular that where any additional information must be disclosed in order to give a true and fair view that information has in fact been disclosed.

  1. We confirm that all accounting records have been made available to you for the purpose of your audit, in accordance with your terms of engagement, and that all transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All other records and related information, including minutes of all trustee board meetings, have been made available to you. We have given you unrestricted access to persons within the charity in order to obtain audit evidence and have provided any additional information that you have requested for the purposes of your audit.

  2. We confirm that significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable, as set out in the attached list.

  3. We confirm that all known actual or possible litigation and claims whose effects should be considered when preparing the financial statements have been disclosed to the auditor and accounted for and disclosed in accordance with the applicable financial reporting framework FRS 102.

  4. We confirm that there have been no events since the balance sheet date which require disclosing or which would materially affect the amounts in the financial statements, other than those already disclosed or included in the financial statements.

  5. We confirm that we are aware that a related party of the charity is a person or organisation which either (directly or indirectly) controls, has joint control of, or significantly influences the charity or vice versa and as a result will include: members, trustees, other key management, close family and other business

Guarantee in England and Wales No: 05731598 | Registered Charity No: 1113708 t: 0151 237 2663 www.phholtfoundation.org.uk 08/12/25

interests of the previous. We confirm that the related party relationships and transactions set out as attached are a complete list of such relationships and transactions and that we are not aware of any further related parties or transactions.

  1. We confirm that all related party relationships and transactions have been accounted for and disclosed in accordance with the applicable financial reporting framework FRS 102.

  2. We confirm that the charity has had, at no time during the year, any arrangement, transaction or agreement to provide credit facilities (including advances and credits granted by the company) for trustees, nor to provide guarantees of any kind on behalf of the trustees.

  3. We confirm that the charity has not contracted for any capital expenditure other than as disclosed in the financial statements.

  4. We have no plans or intentions that may materially alter the carrying value and where relevant the fair value measurements or classification of assets and liabilities reflected in the financial statements.

  5. The charity has satisfactory title to all assets, and there are no liens or encumbrances on the assets except for those disclosed in the financial statements.

  6. 12.There are no liabilities or provisions other than those recognised and no contingent liabilities or guarantees to third parties other than those disclosed in the financial statements.

  7. We confirm that we are not aware of any possible or actual instance of noncompliance with those laws and regulations which provide a legal framework within which the charity conducts its business and which are central to the charity’s ability to conduct its business (as set out in the attached list) except as explained to you and as disclosed in the financial statements. The charity has complied with all aspects of contractual agreements that could have a material effect on the financial statements in the event of non-compliance.

  8. We acknowledge our responsibility for the design, implementation and maintenance of controls to prevent and detect fraud. We confirm that we have disclosed to you the results of our assessment of the risk that the financial statements may be materially misstated as a result of fraud.

  9. We confirm that there have been no actual or suspected instances of fraud involving management or employees who have a significant role in internal control or that could have a material effect on the financial statements. We also confirm that we are not aware of any allegations of fraud by employees, former employees, regulators or others.

  10. We confirm that, having considered our expectations and intentions for the next twelve months, and the availability of unrestricted reserves, the charity is a going concern. We also confirm that the period that we have considered covers a minimum of twelve months from the date of this letter.

Guarantee in England and Wales No: 05731598 | Registered Charity No: 1113708 t: 0151 237 2663 www.phholtfoundation.org.uk 08/12/25

  1. We confirm the financial statements are free of material misstatements, including omissions. In our opinion, the effects of unadjusted misstatements are immaterial, both individually and in aggregate, to the financial statements as a whole.

  2. We confirm the following specific representations made to you during the course of your audit:

We confirm that we make use of internet banking and that adequate and appropriate controls over our internet banking facility/access were operational and effective throughout the year.

We confirm that our IT back up procedures and off site security are adequate, regularly tested, current and appropriate and that an up to date back up is available. We confirm that disaster recovery planning is conducted and reviewed periodically, and that adequate and appropriate insurance is carried.

We confirm that historic records are maintained for the minimum required (that is for the current and previous six years) to ensure, for example, that any future HMRC audit will proceed without irregularity.

We confirm that all grants, donations and other income, including any subject to special terms or conditions or received for restricted purposes, have been notified to you. There have been no breaches of terms or conditions regarding the application of such income.

We confirm that we are not aware of any matters of material significance that should be reported to the Charity Commission.

We confirm that the fees payable to the Administrator for the year ended 31 March 2025 have been agreed by the Board. We also confirm that, having reviewed the relationship between the administrator and the charity, we are satisfied that it does not constitute one of employment, which would require the Charity to account for PAYE and NIC to H M Revenue and Customs on the administrator’s fees.

We confirm the accrued income provision as at 31 March 2025 to be £19,186, which comprised:

o Kennox £Nil o Ruffer £19,186 o Troy £Nil

We confirm that the funds, including the cash and bank balances, of the Holt Education Trust form part of the charity’s funds and are correct to be included in the accounts.

Guarantee in England and Wales No: 05731598 | Registered Charity No: 1113708 t: 0151 237 2663 www.phholtfoundation.org.uk 08/12/25

We confirm that where grants have been awarded by the charity for two or more years the funding for subsequent years is conditional upon the beneficiary meeting agreed performance criteria. We are therefore satisfied that as at 31 March 2025 there were no commitments in respect of multi-year grants requiring either recognition as a liability of the charity or disclosure in a note in the financial statements.

We confirm that as at 31 March 2025 the balance on the restricted fund for the Holt Educational Trust and Charles Wootten Fund should be £92,558 comprising the funds held as Bank and cash.

  1. We acknowledge our legal responsibilities regarding disclosure of information to you as auditors and confirm that:

  2. so far as each trustee is aware, there is no relevant audit information of which you as auditors are unaware, and

  3. each trustee has taken all the steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that you are aware of that information.

We confirm that the above representations are made on the basis of enquiries of management and staff with relevant knowledge and expertise (and, where appropriate of supporting documentation) sufficient to satisfy ourselves that we can properly make these representations to you and that to the best of our knowledge and belief they accurately reflect the representations made to you by the trustees during the course of your audit.

Yours faithfully

Signed on behalf of the board of trustees by:

Trustee.................................................................

08/12/2025 Date.....................................................................

Guarantee in England and Wales No: 05731598 | Registered Charity No: 1113708 t: 0151 237 2663 www.phholtfoundation.org.uk 08/12/25

P. H. Holt Foundation Year ended 31 March 2025

Accounting estimates

Estimate How identified Estimation method
Year end accruals Review of invoices and payments Include provision for any
post year end services received in the year
where payment is not
processed until after the year
end
Review grant documentation
Review of grants payable at the and adjust for amounts
year end committed to but unpaid at the
year end
Year end prepayments Regular review of invoices and Include provision for any
payments during the year payments in advance of
services to be provided post
year end
Year end accrued Review of investment report Include provision for investment
income income declared but not paid at
the year-end date
Apportionment of staff Estimate of administrator’s time 75% grant making;
and office costs spent on each activity 25% governance
between activities

Guarantee in England and Wales No: 05731598 | Registered Charity No: 1113708 t: 0151 237 2663 www.phholtfoundation.org.uk 08/12/25

P. H. Holt Foundation Year ended 31 March 2025

Related party transactions

Type
~~ee~~		 Name of party
~~ee~~		 Transaction
~~ee~~
Trustee and Chair
~~ee~~		 Nigel Lanceley DL, FCA
(Resigned 31 March 2025)
~~ee~~		 ~~ee~~
Trustee and Chair
/Secretary
~~ee~~
~~a~~		 Elspeth Christie
~~ee~~		 ~~ee~~
Trustee
~~a ~~		 Mike Furniss (Resigned 30 June
2025)
~~a~~
Trustee
~~a~~		 Amy de Joia (Resigned 31 March
2025)
Trustee
~~a~~		 Ian Matthews
Trustee
~~—————————————~~		 Lesley Carol Martin-Wright
~~—————————————~~		 ~~—————————————~~
Trustee
~~—————————————~~		 Ken Ravenscroft
~~—————————————~~		 ~~—————————————~~
Trustee
~~a~~		 Natan Levy (Resigned 20
September 2024)
Trustee
~~a ~~		 Caroline Grant (Appointed 14 June
2024)
~~a~~
Trustee
~~a~~		 Andrew Cross (Appointed 14 June
2024)
Trustee
~~a ~~		 Deborah Mills-Burns (Appointed
14 June 2024)
~~a~~
Trustee
~~a~~		 Neil Turner (Appointed 20
September 2024)
Trustee
~~a ~~		 David Macleod (Appointed 29
August 2025)
~~a~~
Trustee
~~a~~		 Barbara McDonough (Appointed
20 September 2024)
Trustee
~~ee~~		 John Sacker (Appointed 20
September 2024)
~~ee~~		 ~~ee~~
Trustee
~~ee~~		 Alice Potter (Appointed 20
September 2024 and resigned 4
March 2025)
~~ee~~		 ~~ee~~
Trustee
~~ee~~		 Peter Woods (Appointed 29
August 2025 and resigned 5
September 2025)
~~ee~~		 ~~ee~~
Key management
~~a~~		 Anne Edwards (Resigned June
2024)
~~a~~
~~a~~		 ~~a~~
Key management
~~a~~		 Lifa Zvimbande (Appointed June
2024)
~~a~~
Other appointments Elspeth Christie:
•
Brabners LLP (employer)		 £1,560 paid to Brabners in
year in respect of legal
advice
Other appointments Mike Furniss:
•
Birkenhead School (Governor)
•
Tmesis Theatre (Chair of
trustees)

Guarantee in England and Wales No: 05731598 | Registered Charity No: 1113708 t: 0151 237 2663 www.phholtfoundation.org.uk 08/12/25

P H Holt Foundation Year ended 31 March 2025

Related party transactions and balances (continued)

Type Name of party Transaction
Other appointments Amy de Joia:
•
Hope Street Hotel Limited (Director)
•
The Royal Albert Dock Liverpool
Charitable Foundation (Trustee)		 Grants paid to The
Royal Albert Dock
Liverpool Charitable
Foundation of £5,000
Other appointments Ian Matthews:
•
Commercial Hangers Ltd (Director
with controlling interest and
secretary)
Other appointments Lesley Carol Martin-Wright:
•
Volair Limited (from 9 October 2024)
•
Knowsley Chamber of Commerce
(Chief Executive and Company
Secretary) to 30 June 2024
•
Deputy Lieutenant of Merseyside
•
Justice of the Peace
•
156 Regiment RLC (Hon. Colonel)
•
University of Bolton (Hon. Doctorate)
•
Liverpool Cathedral (unpaid advisor
on Nominations Committee)
•
Liverpool Hope University (Council
member and non-executive director)
•
The Corporation of the Cathedral
Church of Christ in Liverpool
(Trustee)
Other appointments Ken Ravenscroft:
•
Age Concern Liverpool (Services)
Limited (Director)
•
Age Concern Liverpool and Sefton
(Director)
Other appointments Natan Levy:
•
Brown Shipley (Employer)
Other appointments Barbara McDonough:
•
Inside Connections Support CIC
(Director)
•
Red Hat Consulting Ltd (Director)

Guarantee in England and Wales No: 05731598 | Registered Charity No: 1113708 t: 0151 237 2663

www.phholtfoundation.org.uk 08/12/25

P H Holt Foundation Year ended 31 March 2025

Related party transactions and balances (continued)

Other appointments Deborah Mills-Burns:
•
Internation Professional Security
Association (Appointed Director
on 2 August 2024)
Other appointments Peter Woods:
•
Bluecoat Display Centre Limited
(Director)
•
Ryan-wood Limited (Director and
Secretary)
Other appointments Neil Turner
•
Birkenhead School Foundation
Trust (Trustee)

Laws and regulations

Charities Act Companies Act Charities SORP Health and safety legislation Employment legislation Data Protection Act and GDPR

Guarantee in England and Wales No: 05731598 | Registered Charity No: 1113708 t: 0151 237 2663 www.phholtfoundation.org.uk 08/12/25