REGISTERED COMP.LIT NIIIBER: 07016271 ffngland Wxles) REGISTERED IITMBER: 1133643 Repoit of the I1$tee5 I naudited Finallcial Statements foi. the Yeai. Ellded 31 Mai'ch 2025 foi. PllCO FOIThTATION LTD Brilldleys Litnited 2 IleeleyS Road Edgbastoll Il'est.Midlands Bli ILD
P411mCo FOIThTATIOI LTD Colltents of the Financial Stxtements foi. the Yexi. Ended 31 Mxi'ch ?025 Page Repoit ofthe TISteeS Independent Exa]el"S Repoit Statement ofFin%nrixl Actiiities Statement ofFin%nrixl Position Notes to the Financial Statements 7 to 12 Detailed Statement ofFinxllci%l Acliiities 13
P411mCo FOIThTATIOI LTD Repoit ofthe TiSteeS foi. the Yeai. Ended 31)121'ch 2025 The trnstees 4%"ho are also directo of tbe clwity for tbe 1rpOseS of the Companies Act ?006. present tbeir report 14"Lth the fillallcial statemellts of the cbarity for the year ended 31 _Marcb ?O?i. The trnstees bai".e adopted tbe proi'isions of Accounting alld Reportit]g by Cbarities.. Statement of Rec01nllllded Practice applicable to clwities preparing tbeir accoiints ill accordance witb tbe Fillancial Reporting Standard applicable ill the LIK and Republic of Ireland (FRS 102} (effective I January ?019). Objectii'es and l} The relief of poN"erty.. sickness and distress by proi"idillg siicb seTrices and facilities as are necessary including food, clothing and medical supplies: 2} To adi"allce e(hication by proN"idillg grallts and sucb itell]s: seThryces and facilities as required particularly. but not exclusively. for the benefit of young people: 3} To adN"allce the Isla[C religion ill accordance 41.ith the sbia schiJ)l of thou_gbt by such means as the tnistees in tbeir absolute discretioll determit]e. STRITCTtTRE, GOVEILNLJCE AGEIE} Gove1illg dOcuent Tbe clLqrity is colltrolled by its goN"ernillg document. a deed of tnist. and constiftites a limited company. limited by gL]arantee. as defit]ed by the Con]pallies Act 2006. REFERENCE ADMLNISTIL4TIlf DETAILS Registei'ed c.0panI" numbei. 07016?71 (Englalld and 11:alesl Registei'ed Chaiih" numbei. 1133643 Registei'ed office Unit 4 Boultbee Biisiness Units Nechells Place Birmillgbam lfv'est Midlands B7 SAR TIStee5 M J Isn11 Tnistee L G Jaffer Trustee M P Kurji Trustee CompaDTr Seci'etAITr- L G Jaffer Independent EIaminei' Brindleys Litnited 2 lfvTheeleys Road Edgbaston BirmiDgbam lfv'est Midlands B15 ?LD ApproN"ed by order of the board of trnstees on............................................. and signed on its bebalf by: Page I
P411mCo FOIThTATIOI LTD Repoit ofthe TiSteeS foi. the Yeai. Ended 31)121'ch 2025 M J Isll]ail_ Trustee Page 2
Independent Examinei's Repoit to the Tiwstees of Phaiinaco Foundation LTD Independent examinei s i'epoit to the tISteeS of Phxiillaro Foundation LTD ('the Compxni-') I report to the clLqrity trnstees oll my exatnination of tbe accounts of tbe Coll]pany for tbe year ended 31 March 20?5. Responsibilities And bAsis of i'epoit the cknity's tnistees of Ibe Compallv lat]d also its directors for tbe Pillposes of con]pally lai4".) you are responsible for the preparation of the accoiints it] accordance ii-ith tbe reqi]ireJnellts of tbe Companies Act ?0061'the ?006 Act'}. Hai'illg satisfied myself tIt the accounrs of rbe Coll]pally are not reqliired to be audiTed illlder Part 16 of tbe ?006 Act and are eligible for illdependent examinatioL I report ill respect of my examillation of yoiir clwitys accounts as carried oiit under Sectioll 145 of the Clwities Act ?01 I I'tbe ?01 l Act'l. In carrying oiit my ek2]nitIOll I hal'e folloii'ed tbe Directio gii'en by tbe Cl]arity Conunissioll Ullder Section 145{5) Ibl of the ?01 l Act. Independent examinei s statement I bai"e coillpleted illy exalUatIon. I confirm that no lltters haN'e come to my attention ill connection iTritb tbe examination gii'it]g me cause to beliei'e.. accounting records ii."ere not kept ill respect of tbe Company as required by Section 386 of the 2006 Act: or tbe accoiints do not accord ii-iib tbose records. or tbe accounts do llot comply ii.ith the accounting requirements of Section 396 of the 2(KJ6 Act other tl]an any requirement tbat tbe accounts gis'e a tnle alld fair N'ieTh" Ththicb is not a ll]atter considered as part of all independent examillation. or tbe accounts have not been prepared in accordance i4.ith tbe methods and Principles of the StateLnent of Recomtnended Practice for accounrino alld rewrting by cbariTies (applicable to clwities preparing their accounts in accordance witb tbe Financial Reporting Stalldard applicable in the UK and Republic of Ireland (FRS 102)}. I bave no concerns alld haN"e come across no od]er matters in connection the examinatLOll to iTrbich attention sbould be draTh'll in this report in order to enable a proper Ulldersiallding of the accounts to be reached. Saiiad Sumar FCA Brindleys Litnited 2 lfvTheeleys Road Edgbaston BirmiDgbam lfv'est Midlands B15 ?LD Date: ............................................. Page 3
P411mCo FOIThTATIOI LTD Statement of Financial.4ftiiities loi. the Yeai. Ended 31)121'ch ?0?5 2025 Total fid$ 20?4 Total fiinds LTnrestricted funds Restricted funds Notes ll¥COME AM) EM)oWlNs FROM Donations and legacies 52,181 52,181 30.193 IllN"estment income 33,420 33,420 33.123 Total 85,601 63.316 EEI)[[L]IE O Chaiitxble actiiities Education actiN"ities sitallce - Poor & Needy 2,917 18.000 215(Kl 21,500 Otber 10,740 10,740 14.859 Total 32340 32,240 35.776 T INCOLIIE 53J61 53J61 27.540 RECONCILL4TION OF FtThTs Total funds broiigbt forward 413,445 413,445 385,905 TOTAL FEThs CARRIED FORIVARD 466,806 466,806 413,445 The notes fonn part of these financial statements Page 4
P411mCo FOIThTATIOI LTD Statemellt ofFinanciAI Positio 31 Mai'cb ?0?) 2025 Total fid$ ?024 Total fiinds LTnrestricted funds Restricted funds Notes FLiTD ASSETS Tangible assets 258,894 258,894 258,894 ctTRRENT ASSETS Debtors Casb at bank and in Ild 44J43 174,484 44J43 174,484 17.489 149,991 218,827 218,827 167,480 CREDttORS Amounts fallillg due M'ithill one year io (10915) {10915) {12.929) T CITRRENT ASSETS 207912 207912 154,551 TOTAL ASSETS LESS CI]iRENT LL4BILtllES 466,806 466,806 413,445 T ASSETS 466,806 466,806 413,445 Unrestricted funds: General fund 466,806 413.445 TOTAL FEThS 466,806 413.445 The cbaritable company is entitled to exejnption fro audit under Section 477 of the Companies Act 2006 for tbe year ended 31 March 2025. The members bal'e not required the companv to obtaill all audit of its financial statements for tbe year ended 31 Marcb 2025 ill accordallce ivitb Section 476 of tbe Companies Act ?006. The tmstees ackno4%"ledge their responsibilities for (al ensurit]g that the charitable con]pany keeps aCcoltIng records tbat comply Trith Sections 386 and 387 of the Companies Act 2006 alld preparing fll]at]cial StateelltS 4%"hicb giN"e a trne and fair N"ieii' of tbe state of affairs of the clLqritable COLnpany as at tbe elld of each fanCIaL year and of its SL]rpliis or deficit for each financial year in accordance with tbe requirements of Sections 394 and 39) alld il.bicb otheTh4"ise con]ply Thith tbe requirements of the Cowallies Act 2006 relating to fll]at]cial stateentS, so far as applicable 10 tbe charitable cojnpany. (bl The notes fonn part of these financial statements Page 5 contillued...
P411mCo FOIThTATIOI LTD Statement of Financial Position - contillued 31)Iai'cb 20?) Tbese financial statements haN"e been prepared in accordance ii-ith the proi."isions applicable to clwitable companies subject to the small companies regIll. The financial statements M'ere approN"ed by the Board of Trustees alld autborised for issue on and ivere signed on its bebalf by.. M J Isll]ail_ Trustee The notes fonn part of these financial statements Page 6
P411mCo FOIThTATIOI LTD otes to the Financial Statements loi. the Yeai. Ended 31 Mai'ch ?0?5 AccoioYrtNG POLICIES BASIS of pi'epaiing the statements Tbe fanCial statemenrs of rbe clwitable conu)any. ii.bich is a public benefit entity linder FRS 102, have been prepared in accordat]ce ii'itl] tbe Cbarities SORP IFRS 10?) 'Accounting and Reporting by C.barities.' Statement of Reconllnended Practice applicable to cl]arities preparing their accounts in accordance ii'itb tbe Financial Reporting Standard applicable ill tbe UK alld Republic of Irelalld IFRS 10? l {effectii:e l Janiiary ?0191'. Fillallcial Reporting Standard 10? 'The Financial Reporting Standard applicable in tbe UK alld Republic of Ireland, alld the CoLnpanies Act 2006. The fll]at]cial statements bai"e been prepared iillder the historical cost coni'ention. Illcome Ail income is recogt]ised ill the Statejnellt of Financial ActLI'ities once the cl]arity I entitlement to tbe fL]nds. it is probable that tbe illcome H."ill be receiN"ed alld the amoiu]t call be measured reliably. Expenditui'e Liabilities are recognised as expenditure as soon as there is a legal or constrnctive obligation conllnittillg the cbarity to that expendille. it is probable tbat a trallsfer of ecollomic benefits ii-ill be required ill settlemellt and the amount of tbe obligation call be measured reliably. Expenditure is accoiu]ted for on an accruals basis and I}S been classified under beadings that ag_gregate all cost related to tbe category. Illere costs catmot be directly attributed to particular headings d]ey baN"e beell allocated to actll-Lties Oll a basis consistellT 11-id] the use of resources. TAngible ed assets Depreciation is proN'ided at the folloii'illg arUaL rates in order to iiTite off each asset over its estimated usefi]I life. Freehold property Plant alld ll]acl]inery Not depreciated IOO/o on cost Txxxtion Tbe cbarity is exempt fro CorratIon tax on its charitable actLllties. Fund accounting Unrestricted fi)llds can be used in accordance 4%ith tbe charitable objectii'es at the discretion of the trLtees. Restricted fi]llds call only be used for particular restricted puoioses ii'ithin the objects of tbe cbarity. Restrictions arise w,hen specified by the donor or 41.hen funds are raised for particular Testricted purposes. Furtber explanation of the nature and purpose of each fillld is illcluded in the notes to the financial statements. ¥VESTMENT LNCOME 2025 2024 Rents receiN"ed 33,420 33.123 Paoe 7 contillued...
P411mCo FOIThTATIOI LTD )'otes to tbe Financial StAtemelltS - Continued loi. the Yeai. Ended 31)Iai'ch ?025 CR[rABLE ACTIITfiES COSTS Direct Costs Assitallce- Poor & Needy 21,500 SLTPORT COSTS Goi'ernance costs Other Totals Other resoilrces expended IOJ40 400 10,740 INET P*COLIIE/ffjVENJ)rrtTrE) Net illcome/{expenditure) is stated after clw_gino (crediting): 2025 2024 Depreciation- omued assets 2.IIK) TRLSTEES, RENILThlRATIO) BEITFtts Tbere were no trnstees, remuneration or other benefits for the year ended 31 _Marcb ?025 nor for the year ended 31 March 2024. TiSteeS, expenses Tbere ivere llo trustees, exnseS paid for the year ended 31 March ?O?_S nor for the year ended 31 Marcb 20?4. CONIPAIL4TIVES FOR THE STATE) OF FLNLICLIL AcfINTrtES Unrestricted fiinds Restricted funds Total fL]nds INCOME FROM DonatiODS and legacies 30.193 30.193 Illi'estment income 33.123 33.123 Total 63.316 63.316 EVEiJ>rri]iE ON C.haiitable aftiiities E(hication actii'ities Assitallce- Poor & Needy 2.917 18.0(K) 2,917 18.000 Other 14.8_59 14.859 Total 35.776 35.776 Paoe 8 contillued...
P411mCo FOIThTATIOI LTD )'otes to tbe Financial StAtemelltS - Continued loi. the Yeai. Ended 31)Iai'ch ?025 CONIPAIL4TIVES FOR THE STATE) OF FLNLICLIL AcfINTrtES . conlinued Unrestricted Restricted funds fullds Total funds INET INCOIIE 27.540 RECONCtLL4TION OF FtThTs Total funds broiigbt foThi'ard 385.905 385,905 TOTAL FEThs CARRtED FORIV.4RD 413.445 413,445 TL)GIBLE FLiID ASSETS Freebold property Plant and nchillery Totals COST At l ApriL ?0?4 at]d 31 Marcb 20?5 21,000 279,894 DEPRECL4TIO At l ApriL ?0?4 at]d 31 March ?0?5 21,000 21,IM)O INET BOOK VALI At 31 Marcb 2025 258,894 At 31 March 2024 ?58.894 258,894 DEBTORS: AMOIThTS FAILLNG DII WTfHLN YEAR 2025 2024 Trade debtors VAT Prepayments 40,638 430 3375 3,275 44J43 17,489 Paoe 9 contillued...
P411mCo FOIThTATIOI LTD )'otes to tbe Financial StAtemelltS - Continued loi. the Yeai. Ended 31)Iai'ch ?025 io. CREDrroRS: LMOIThTS FALLLNG DIE ITrTtHLN YL4R 2025 2024 Trade creditors VAT Other creditors Accrned expenses 4,665 5.122 1.371 1.136 12.929 ii. MOVEMEJT LN FtThJ)s Net oi'ement in funds At 31.3.25 At 1.4.24 [Tlli'eshicted funds General filnd 413,445 466,806 TOTAL FEThS 413,445 466,806 Net movement in funds, illcliided in the aboi"e are as follo5.. Incolg resources Resources expended MoN'eLnent ill fiinds [Tlli'eshicted funds General fiind 85,601 (32340) 53J61 TOTAL FEThS 85,601 (32340) 53J61 Compai'atii'es foi. moi'ement in funds Net oi'ement in fullds At 31.3.24 At 1.4.23 [Tlli'eshicted funds General filnd 385.905 ?7.540 413,445 TOTAL FEThS 385.905 ?7.540 413,445 Page 10 contillued...
P411mCo FOIThTATIOI LTD )'otes to tbe Financial StAtemelltS - Continued loi. the Yeai. Ended 31)Iai'ch ?025 ii. MOVEMEJT LN FtThJ)S - continued Comparative llet moN"ement in funds. illcluded in the aboN"e are as follo1[.. Incolg resources Resources expended MoN'eLnent ill fiinds [Tlli'eshicted funds General filnd 63.316 {3_5.776) 27.540 TOTAL FEThS 63.316 {35.776) 27,540 A current year 12 molltbs and Prior year 12 months conthilled position is as folloii's: Net oi'ement in funds At 31.3.25 At 1.4.23 [Tlli'eshicted funds General filnd 385.905 80.901 466,806 TOTAL FEThS 385.905 80.901 466,806 A aellt year 12 montbs and prior year l? months conthilled net moN'ement ill fiinds. included ill the aboN'e are as follow's= Illcojning resources Resources expended MoN'eLnent ill fiinds [Tlli'eshicted funds General filnd 148.917 (68.016) 80.901 TOTAL FEThS 148.917 (68.016) 80.901 Page 11 contillued...
P411mCo FOIThTATIOI LTD )'otes to tbe Financial StAtemelltS - Continued loi. the Yeai. Ended 31)Iai'ch ?025 12. REL4TED PARTY DISCLOSI]iES Tbere ivere llo related party transactions for the year ended 31 March 2025. Page 12
P411mCo FOIThTATIOI LTD Detailed StAtement of Financial_4ctiiities loi. the Yeai. Ended 31)Iai'ch ?0?5 2025 2024 ll¥COME AM) EM)OWIIENTS Donations And legacies Donations 52,181 30.193 Investment income Rents received 33,420 33.123 Total illcoming i'esoui'ces 85,601 63.316 EEI)[[L]IE Cbaiitxble actiiryties Education actiN"ities sistallce-Poor & Needy 2,917 18.000 21,500 21,500 20.917 Suppoit costs Othei. Rates. Insurance & S..:'Cbarges Light and heat Depreciation of tallgible fixed assets 5,808 5,951 2,100 4,723 IOJ40 13.859 Gol'e1 Ance costs Accountallcy fees Legal & Professional fees 400 400 600 400 1,000 Total resources expended 32240 35.776 et income 53J61 27.540 This page does not form part of the statutory fll]ancial statements Page 13