Charity registration number 1160542 (England and Wales) THE PAH FAMILY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
THE PAH FAMILY CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees P Hodari A Hodari W Littman Charity number 1160542 Principal address 15 Camarvon Street Manchester M31EZ Independent examiner Lopian Gross Bamett & Co Chartered Accountants 1 st Floor, Cloister House Riverside New Bailey Street Manchester M3 5FS
THE PAH FAMILY CHARITABLE TRUST CONTENTS Page TnJstees' report Independent examineffs report Statement of financial activities Balance sheet Notes to the financial statements 6-12
THE PAH FAMILY CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 JULY 2025 The trustees present their annual report and financial statements for the year ended 31 July 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's Deed of Trust, the Charities Act 2011 and -Accounting and Reporting by Charities= Statement of Recommended Practi applicable to charities preparing their aGGounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)- (as amended for accounting periods commencing from 1 January 2016). Objectives and activities The trust's objects are to make donations to registered charities al the discretion of the trustees lo benefit the general public. The policies adopted in furtheran of these objects are that no charity trustee or connected person may.. a) buy or receive goods or ServIS from the charity on terms preferential to those applicable to other members of the public., b) sell goods or services or any interest in land to the charity- c) be employed by or receive any remuneration from the charity. d} receive any olher financial benefit from the charity unless the payment is permitted under specific provisions as noted in the Trust Deed, or aulhorised by the court or by the Charity Commission. There has been no change in these during the year. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake. Activities The charity owns three properties: 95 High Street and 24126 King Street and 30b Deansgate Lane that were financed by specific donations reived. In 2024. the charity purchased a fourth property, 16-18 Lloyd Street, which has been financed by a bank loan. The aim of the charity is to manage these properties, and any other properties that the charity might receive, and use the rents received to make charitable donations as previously noted. In 2020 the charity also received by donation an interest in the share capital of Pilot Group Limited, a company that is incorporated in England and Wales that is connected to certain trustees, so the charity can receive investment income to further its charitable aims. Any surplus of funds that are held at the charitys accounting period end of 31 July shall be carried forward to be available for distribution in the next accounting period. Achievements and perfonnance During the year the charity received charitable donations of £25,776 (2024- £202,016). During the year the charity received income of £126,301 (2024 - £75,163) from the investment properties held, and £17,630 {2024- £23,507) from the fixed asset investment held. The charity made charitable donations during the period. totalling £60.19612024'. £146,457).
THE PAH FAMILY CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 Flnanclal r•vl•w The trustees ar• MtIBfied th the level ol ch8rlloble aclfvlll88 Ih•t they h8V8 8chlaved to dat8. 11 Is extremety fftilng that the trIty18 •lr88dy oporollng on 8 81rong fin8nc181 footlng whèrè the charty can r8ty on the 8tre incx)m8 8tro•m promded by the Inve8lmeDI propertl88 held, 8nd 8180 on the Inffttmefrt In Inym I fix•d 8ii•t InvMlmonl hthl. As • •lr••dy provkJ•d • publ ben•flt by donknns m8d8 to dats. and the trust IM Ih•l IN8 03ntlrnM In lh• fiJlur•. biJsl888 hm 888•Med Ihe major rlsks to thlch tho tiu¥t l• expomd. and arn ted trot w• c lo mtyate Oxpowrft lo the major r18k8. SbiKIuv•. 9ov•rn•nu and m•n•9•m•nt The trust was established by a charitable Irust deed on 3 Fobru8ry 2015. The tru8tO08 wd dwlng tho year and up to the dal8 of 8ignalur8 of the fin8n¢lal 8t8toment• P Ho(18ri W Llitrnan Thorn bo at t three trustees al all tlTh8. In selecting indmduals for apwintment as tru$l8e$. the truste88 mu81 have regard to the skms. kw•. and exponw n88d8d for the eff9Ctlve adminlstration of the chaty. Tho Irusteos must keep a reoxd of the name and 8ddrn88 and the date of appolntrnont. wppointhnt and rots'rem•nl of 88ch trustfjo. Th8 truoto8s rnust mak8 available to each new truste8. on his or her first appointment: a) • (£rf>y 0ftr da8d and any amendments mad8 to it. b) • Lx)py (wtys18te81 report and Ststemonl of accounts. Organlutlon•l •tructur• The charty is under the contrd of the Hodarf famlly who constllute two out of the ch8nVs thrn• trust• The d8y40• ruMtryJ of th6 Fettlng portlollo, fixed 88881 Inv88tment 8rKI the prepttrall ot ts accijx are managed by two indivKlua18 who are employed by companies under the control of the Hodari 18my. 7th it i• fdt th•t thoy hove the noCe8•8ry exp8rianc8 8nd comp8lenca to fulfil thelr rolo8. to valk8 d)arttabl• cau•es are mada al the dI8crn0n of Iho tru8te08 wlth rogwd to i tho year the c4Nwny focèived donatloni of ¢a8h from companle8 that are under Iho conird of cortawi 8t6M' report wa• apwov•d by tha 8oard of Tru8te•8. Hodarl Trustee 1811212025 Scanned wlth CamScanner-; cs
THE PAH FAMILY CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PAH FAMILY CHARITABLE TRUST I report to the trustees on my examination of the financial statements of The PAH Family Charitable Trust (the trust) for the year ended 31 July 2025. Responsibilities and basis of report As the trustees of the trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011. I report in respect of my examination of the tTUSt's financial ststements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{51(b} of the Charities Act 2011. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the trust as required by section 130 of the Charities Act 2011. the financial statements do not accord with those records" or the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination. I have no cOnmS 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 financial statements to be reached. J Brodie ACA Lopian Gross Barnett & Co 1 st Floor, Cloister House Riverside New Bailey Street Manchester M3 5FS Dated: 1811212025
THE PAH FAMILY CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2025 Unrestricted funds 2025 Unrestricted funds 2024 Notes Income from: Donations and legacies Investments 25,776 144,195 202,016 99,572 Total income 169,971 301,588 Expenditure on: Raising funds Charitable activities Other expenditure 5,415 60,196 51,466 18,588 146,457 37,925 10 Total expenditure 117,077 202,970 Net income and movement in funds 52.894 98,618 Reconciliation of funds: Fund balances at 1 August 2024 1,127.659 1.029,041 Fund balances at 31 July 2025 1,180.553 1.127,659 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
THE PAH FAMILY CHARITABLE TRUST BALANCE SHEET AS AT31 JULY2025 2028 2024 Nol•• 12 13 1.843,271 15,552 1.843.271 15,S52 1,6S8,823 1.858,8rJ 14 11,467 80,877 13.820 24,174 78,344 CTrd#aTr: •mount• hlllng du• ¥Athln 16 (34,264) {30.n 44,080 T<*al •s••ts1•18 lbIll•S 1.702.903 1.865.910 17 (522,350) ($38251) 1,180,553 1,127.659 Th• funth of th• tNsl 18 1,180,553 1.127.859 1.180.553 1.127. 1811212025 ' •tat•moth wore opproved by the tru8t088 on ......................... P l Hodwi Scanned wlth CamScanner-; cs
THE PAH FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 Accounting policies Charity information The PAH Family Charitable Trust is a registered charity, number 1160542, and is constituted under a trust deed dated 3 February 2015. 1.1 Accounting convention The accounts have been prepared in accordance with the trust's deed. the Charities Act 2011 and "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)- (as amended for accounting periods commencing from 1 January 2016). The trust is a Public Benefit Entity as defined by FRS 102. The trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports} Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in steding, which is the functional cuencY of the trust. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and rtain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to conlinue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial stalements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific (x)nditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the trust. 1.4 Incoming resources Income is recognised when the trust is legally entitled to it after any performance conditions have been mel, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known. and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
THE PAH FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 Accounting policies (Continued) Rental income is recognised on the comMenMent of and in accordance with a lease, with adjustments made for any rent free periods as required by FRS102. Dividend income is recognised as it falls due, as and when the company whose shares the trust holds issues a dividend. 1.5 Resources expended Expenditure is recognised once Ihere is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by aclivity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned belween those activities on a basis consistent wilh the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. The costs of generating funds which are regarding the management of the investment properties held are recognised on an accruals basis. 1.6 Investment properties Investment property, which is property held to eam rentals andlor for capital appreciation, is initially recognised at cost. which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss. Properly rented to a group entity is accounted for as tangible fixed assets. 1.7 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. Fixed asset investments in unlisted investments are measured at cost, as the market value of the investment is not known. 1.8 Cash and cash equivalents Cash and cash equivalenls include cash in hand, deposits held at call with banks, other short-temi liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within bOowingS in current liabilities. 1.9 Financial instruments The trust has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the trusvs balance sheet when the trust becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, wrth the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
THE PAH FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 Accounting policies (Continued) Basic financial assets Basic financial assets, which include debtors and cash and bank balaTrS, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction pri unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or seNices that have been acquired in the ordinary course of operations from suppliers. Amounts payable are dassified as current liabilities if payment is due within one year or less. If not, they are presented as nOn-cUenI liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised wst using the effective interest method. DereGognition of finanGial liabilities Financial liabilities are derecognised vthen the trust's contractual obligations expire or are discharged or cancelled. Critical accounting estimates and judgements In the application of the trust's accounting policies, the trustees are required to make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounling estimates are recognised in the period in which the estimate 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. Donations and legacies Unrestricted Unrestricted funds funds 2025 2023 Donations and gifts 25,776 202,016
THE PAH FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 Investments Unrestricted Unrestricted funds funds 2025 2023 Rental income Income from unlisted investments Interest receivable 126,301 17,630 264 75,163 23,507 902 144,195 99,572 Charitable activities Donations Donations made to made to registered registered charities harities 2025 2024 Donations made to registered charities 60,196 146,457 Support costs allocated to activities 2025 2024 Rent and Rates Light and Heat Propety repairs Premises insurance 3,068 959 1,584 (196) 2,086 986 14,364 1,152 5.415 18,588 Analysed between: Fundraising 5.415 18,588 Net movement in funds 2025 2024 The net movement in funds is stated after chargingl(crediting): Fees payable for the independent examination of the charity's financial statements 900 900
THE PAH FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 Trustees None of the trustees (or any persons connected with them) received any remuneration during the year. Employees The average monthly number of employees during the year was: 2025 Number 2024 Number Total There were no employees whose annual remuneration was more than £60,000. 10 Other expenditure Unrestricted Unrestricted funds funds 2025 2024 Accountancy fees Professional fees Bank charges and interest Financing costs 900 9.651 40.915 1,298 9,498 21,129 6,000 51,466 37,925 11 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 12 Investment property 2025 Fair value At 1 August 2024 and 31 July 2025 1,643,271 The trust held four investment properties at the start of the accounting period. of which were purchased during the period ended 31 July 2016, one being purchased during the period ended 31 July 2019 and one being purchased in the year ended 31 July 2024. Works were perfomied on one of the properties as part of a donation to the charity. The trustees consider that the market value of the properties does not differ considerably from the total amount shown above. 10-
THE PAH FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 13 Fixed asset investments Unlisted investments Cost or valuation At 1 August 2024 & 31 July 2025 15,552 Carrying amount At 31 July 2025 15,552 At 31 July 2024 15,552 Fixed asset investments not carried at market value On 14 August 2017 the charity received a donation of 15,552 ordinary shares of £1 each in Pilot Group Limited, which is a company incorporated in England and Wales. The value of the shares received are shown at cost in these accounts as the market value of these shares is not known and the likelihood of the company being sold and the value of the shares being realised is remote. Pilot Group Limited is a company that is connected to rtain trustees. 14 Deblors 2025 2024 Amounts falling due within one year: Trade debtors Prepayments and accrued income 11,467 10,759 3,061 11.467 13,820 15 Loans and overdrafts 2025 2024 Bank loans 537.409 551,953 Payable within one year Payable after one year 15.059 522,350 13,702 538,251 11
THE PAH FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 16 Creditors: amounts falling due within one year 2025 2024 Notes Bank loans Other taxation and social security Trade creditors Other creditors Accruals and deferred income 15 15,059 1,361 15 6,092 11,737 13,702 1,704 3,764 11,737 34,264 30,907 17 Creditors: amounts falling due after more than one year 2025 2024 Notes Bank loans 15 522,350 538,251 18 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unreslricted funds by the trustees for specific purposes. At 1 August 2024 Incoming resources Resources expended At 31 July 2025 General funds 1,127.659 169,971 (117,077) 1,180,553 Previous year: At 1 August 2023 Incoming resources Resources expended At 31 July 2024 General funds 1,029.041 301,588 (202,970) 1,127,659 19 Related party transactions During the year donations of £25,776 (2024-£26,976) and dividends of £17,63012024-£23,507) were received from Pilot Group Limited, a company in whiGh the charity owns shares in. 12-