Chan"ty registration number.. 1175983 Pavers Charitable Foundation Annual Rcpowt awj FiJwKial Siatc¥i*D15 for the Year En&d 31 January 2025 J-MoTrrll lan Walker & Co A¢¢ountants Wellingion House Aviator Court Clifton Moor York Y030 4UZ
Pavers Charitable Foundation Contents {continued) Reference and Athninistrative Dethils Trustees, RLrA)rt 2105 Slatemenl of Truslees. Responshbilities l*eThleni Examinerfs Report Sth¢¢nwni of FinaD¢ial Acliviti Balantt Sheei Notes to ihe Financial 101020
Pavers Charitable Foundation Reference and Administrative Details Trust¢ G J Pav¢r R L Pavcr D Paver S D Pavcr Charlty R¢gi5tr8tion Numb¢r 1175983 PYintip*l Office NorthmIrer Bsir Park NonhfKld Lan¢ Upper Poppkton York Y026 OQU S J Morrell lan Walker & Co Accountants Wellington House Aviator Court Clifton MOOT Yotk Y030 4UZ Independent Examlner P•8e I
Pavers Charhtable Fr)undatlon Truslees, Report Th¢ ITUSte¢s present the annual retffi tog¢th¢¥ with th¢ finan¢ial sthtemenis of charity for the y¢ar ¢ThJ¢d 31 January 2025. The t$15 have ath)pted ihe prov1510ns of the SiateTneni of Retommertded Pra¢ii¢e ISORP) "Aecouniing and Rep)rtin8 by Charitles" in pryring the annual report and financial statemertis of the charity. Th¢ finan¢ial stai¢m¢DIs hav¢ becn pr¢par¢d in accordance witl) the ac¢(Mmiing poli¢i¢5 sei out in notes to lh¢ ac¢ollnLS and conN)ly wilh the eharitys governing docunKni. the Charities Aei 2011 and Accounting and Reportin¥ by Chariiies- stalen1 ofR¢¢omm¢nded Practice applicable to ¢hariiies pr¢parin¥ Iheir accoun in acLordancc wilh ihc FinaTKial Reporting Standard applicabk in the UK alld Republic of Ir¢laTwJ publishcd i Oclokn 2019. Obje¢tii-t$ and actlvStle$ Athlevements and perfomance . Key perforuwi¢e IDdktor$ ID th¢ year 10 31 January 2025. the Fallon% income Wds £485.52024= £388.877}. Income rec¢iv¢d from Invesinlents lotalled £13,725 12024.. £10.128). donaiions received from Pavers Limited iolalled £310,45412024.. £211.3021 and donaiions received for ih¢ Uktaine Fu1 iotalkd £82.90512024.. £125,355) founded in Ihc 2023 Financial Ycar. Expendilure for the year was £456.613 {2024.. £336.7071. This resulied in nei Incon of £29,292 (2024.. net income of £52.1701. Once nel on inve5tnwnis of £165.316 12024.. nei yins of £60.3041 are taken into aLcount I1 overdll nmivenieni in funds Wds a swplu5 of £194.608 12024.. surplus of £1 12.4741. The ¢oial funds available •1 the end of the year were £2,IVJI.776 {2024.. £1.897.1681. Th¢r¢ are R¢siriLied Fiitmls of £9.361 {2024= Sutplus of £9.277) relaling ¢0 lh¢ Ukraine FuThJ. additionally £63.593 (2024.. £198,¢MO) have been desL8nat¢d. A transfer of £134.625 has been made from Ihe De5iwhaled Fund5 lo ihe Unreslrici¢d FuTrJs aftcr an error wa5 found in ihc cwrent rmalI] pr. thc balaeS are now corrccl moving forward and there has b¢en no ¢ff¢¢i on Ihe cash available io ihe ¢haTiiy nor ain of the chariry.
Pavers Charitble Fovndatlon Trustees, Report (conlinued) b. Revlew of e¢lvltles In ihc year 10 31 January 2025. the FouTMlaiion pledged Grdnts toulling £357.282 12024= £220.715). Unlike in PT¢ViOU$ ycars a Chariiy ofihe Year has bcen clM)scn duc a p)licy change as aged by ihc Tnl¢C5. With so many differeni chaTIlLes beithg put fonvard for a donaLI(m award ihe TrsleeS wshed io spread Lash Ihai ¢om¢8 inio ¢h¢ Chariiy a¢ross nre. worthy ¢ow 1h¢.[0r¢. larg¢ sums donai¢d through lh¢ Chariiy of lh¢ Year inilialive will no lon8cr Ir fTh)ving forward. Thc Pavu farnily awar(kd gTanls lo IhciT chtjsen charitics lolalling £107.419 12024.. £42.765) aTMI a committee awarded grants iolallin8 £229.863 (2024.. £120,447) for vario$ charities which had been nominaied by Pavers Limiied employees. Ihe increa5c of 47ty..0 On fh¢ previous financial y¢ar b¢ing repSentally¢ of th¢ afoT¢nKniioMI poIY ¢hang¢ and lh¢ mov¢ away f¥om cho051g.chaIJtl¢s ofthc Y¢arf. e. Investment polky Thd perf•w¢ Thc Charity'5 govtrning documenl aiiihori5C5 the Trlr¢S to Invc FoundalioD'5 fund5 in th¢ satr unrellricted mann¢r as if they were the beneficial owiKr of Ihe funds. Trustees agreed io invest a si8nifiLant proportion of Ihe ¢hariiy fuNls in an investment portfolio. The Trusices have a clear and agreed invcstmenl po5i¢y and obj¢¢iives based on the advi¢e of its inv¢stm¢ni managers, Robcnson Baxi¢r, wkn impl¢m¢nt ihar strafegy and r¢porl 31 Cry tn¢¢ting to Ihc Tle¢S on perfonance a1 n[ka rondilion5. Considering lh¢ aims of the Chariiy na¢urally align. through this same advice fyoni Robenson Baxier. Ihe Trusiees may Iransfer and reinvem previous inveStnl values into Su5tsinable (or [¢¢.) Funds as Ihcy see flt for the furtherance of tlie Foundation'5 charitablc aetivitiek Thc TnLSttts w'ill conlinue io nN)nilor the investment policy and objectives to eUre thai it takes account of the overall objeclives of ihe fowmtsrion. Ai the 31 January 2025 the i'alualion of Ihc inve51fflents w4s £1.750.845 which rcpresenls a dUctI1)n of £160.155 on ihe inilial inves¢menl of £1.911.(MKI. The rcduction in value of invesiinents is mainly atlribuiable to significant wiihdrawals of Capital ro fuThl the charitablc aclivitics of the Foundaiion, which h8vc becn inadc sin¢e the Charitys i¢PtIo Th¢ remaJThl¢r of the r¢dwlion in Portfolio value is reiai¢d lo a iempordry dDWDlum Lll Ihe maAEets al th¢ date of th¢ Finatttial S¢atrmeMs, it is the Tnjsiees. opinion ihai the valuaiion will recover in the short to medium ierni. Signs of recovery hv¢ aladY been evthnt consTrd¢ring Ihai lh¢ deficii in original inve51Tllenl valuc foT ihe 2024 financial year vrns £330.290. meaning the illvestments have recovered half this reduclion in value in jusi 12 )h$. Flnancial revlew . GoiNE concern After making appropriate ewuirjes, th¢ Tnwe¢s have a reasonable expeciation Ihai the Chariiy has adequaie resources to continue in operaiional exisien¢e for the foffsee•bk fulure_ For ihis reag)n. Ihey coniinue to adopl the %oin¥ concern basis in preparing thc flnancial AaienKnls. Fwther deiai15 rwrding ihe a¢J)ption o(th¢ goin concern basLS can be found in the accouniin8 trt)IicLes. b. Pollty 011 reserve It is ihe policy of Ihe charity to rnainiain fi 81 a level cornmtnsurnie with lis obligatiorts. The aim is to provide suffieieni fijnds io cover the administraiton of the charity and respond applicairons for funding and grafl. The invcslmcnls aTe held lo generaie lo fuThJ the chaTitsbk ac¢ivili¢s. These are ¢herefor¢ cxcluded fTum the cakulation of frce reserves. The free reserves of the charity as at 31 January 2025. which Teprc5cits the nct ¢urT¢nt ass¢is l¢ss d¢signaied funds. ar¢ £186.705 (2024.. £148.055). The Trustees Consider it to be prud¢nt to hom reserves of this order partly so thc level of grants th¢ for5e¢abk futyre can be 5uslstaincd in the event of any fall in in¢orne and partly to eDJble the T1£¢5 to make onc or more $ubstsniial 8rants witlM>Ui prejducin8 [Ma1 grant rn&kin8.
Pavers Charitable Foundation Trustee5' Report (cootinued) ¢ PrlThcipal fundlng 50urce5 The Foui)dalion ha5 rcc¢iv¢d th)natioThs from Povers Limited iothlling £J10.454 {2024= £211.3021 and frgm various members of Ihe Pavers family totalling £8.IXN) 12024.. £1.2251. The Foundation will continur 10 bc 5UPPOrted by Pavers Limiied who havc agrced io donatc 2% of thcir nei profil cach ycar to ihe Foundalion. The Trusices ¢Onlinu¢ io mainiain fh¢ atD)unt of fvnds it has available amiually for grani dis¢ribuiion. The Trustees will conlinuc to review th£ Foundations WOTk during the Coming year aThJ coniinue to off¢r grniiis b&sed on ihe de¢isioDs made by the larnily nkn. the cornrnittee aTMI the vote5 for charitie5 of Ihe year. Sirurlure, govern•n¢e nd maDageJnemt . Nature of gfjverning docUnDI The clLarity was incorporatcd on 28 Novemb¢i 2017 and ¢omnKn¢ed ils livili¢S on ihal dak. Th¢ charity is gov¢rned by a CIO Conslituiion. The principal obj¢¢t of th¢ Charity is to provide io suppon general eharitsble causes. b. Re¢rultment appolntm¢J¢ of tfU51¢¢5 Tlie managemeni of the charity is the resporsibilily of ihe TrleeS WI arL elecied and co-opted U[eT the tr$ of the goveming ¢S)¢wneni. Tn1¢¢ ITh4110 aNI training is Infornl, bul appropriate to a FouiKlation of Ihis size. New T1¢¢5 arc provided with copir5 of gov¢min¥ do¢umenik lat1 Set of acLounrs aiml iakcn through thc processes erqjloyed by ihe Foundation. ¢. Org8nlsti•nal structure and detision4nknNE policies The Trustces are rcswwbsible for SL"Ilin8 ihe ovcrall Siralegi¢& policies IT fvnding criieTiU of ih¢ Foundaiion including invesimeftls. makin8 the final this10 on any grant awardcd 3j for agreeing an annual budget. d. Fltsttdl rl$k managtmthi The Trusiees have assessed the major risks wthich the charily 15 CXP)5c4 Ln particular iIK)se related to ihe operations and finances of the chariiy, aTvJ are satisfied Ihal syste and procethir¢5 arc in platt lo mitsgal¢ our exposure Lo Ihe major risks. Major risks ihat Ihc Trusltts have Co[1dL.red and have tsken 51¢ps lo rniliyle include having robust assessment arml nKTrnitoring to ¢nsur¢ grani$ made are for work whieh is considered charilablc- having a clear inves1nli1 l1¢Y whs¢h lakes account appropriate PTof¢ssional advic¢; aNI ¢ThSUTing Ihat the Foundation is con¥>liant wilh legisialion atMI regulation5 through lakn'ng any e¢essary profcssional viCe. P8c 4
Pavers Charitable Found•tlon Trnstees. Report (continued) e. Fundr4isin8 Thc charity gcneTally engagcs in limitcd fuThlraiSLng aclivity such as Founder Fortnight and other stnall cvcnts held wiihin Paverfs orCs across Ihe couniry. Once a year in June, th¢ chariiy organiscs a fundraising ¢vent to rai$¢ donations for ihe foundation. Th¢ ¢lwriiy doLS wntya¢i with a lh1 pany ts) fuMlrois¢ on the ¢haN1$ behJlr. The Chariry Lontinues lo suprtS ifs Ukraine fundraising iniiiative estsblished in 2023 10 wovide various resources to th¢ p¢ople of Ukraine. with b¢ing donai¢d to ihe Foundation from other busincsscs and iThlividuals ihrov8knut Ihc pcriod. (. Committtt Chairm4n On 1st January 2024 Stuart Paver was clcctcd a5 ChaiTman of the Conwnittcc u'hich supports thc Tru¢C5 in IhoiT deLiSiOTh making over Grants. InVeMentS aTwJ other matt¢r5 of signifi¥anc¢ lo th¢ Foundation Hi$ appointsnent follows thc <kparturc olmark Graingcr as CThairn)aD on 3 I DeeeJJthr 2023. P*F5
Pavers Charltable Foundation Statement of Trustees, Respoasibilities Th¢ In1¢¢5 re5poD$iblc for preparing ihe Iru5te¢s' rcpon and ihe finala1 alernet in accordance wilh Ihe United KingdDm Accoutttjng SiaNJards {Urtited Kjngkn Get¢rally Accepted Accowiting Praclice} a1 applicable law and regulaiion& Tl law applicablc io charities requires thc In]sItt lo prepare finaTKial sialemenis for trdch financial ycar which v¢ a tru¢ fair view of lh¢ SL21¢ ofaffairs of ihc chariiy atxl of i]K' incoming rewurces and applLClilion or 1¢SQUTCCS vf thc charily for Ihal 110. In prLpr]ng these fLnancial 51alLnA1s. Ihe irusLLes are re4uired io". select suitable accounting )lICIeS and ihen apply them eonsi5tently' ob5crve ihc mcl1)dS and principlc5 in thc Chaiiiics SORP 2019 {FRSID21: make judgcments and estimates that are reasonable a1 pru&nl: 51ale wheiher applicable accounting slalardS have been follo7Ard. Subject lo any njaterial departurc5 disclosed and explaincd in the flnancial staicrncnts: and prepai¢ finanLial stai¢m¢nts the goirtg basis unless li is inappropriaie io presuine ihai the charily will continu¢ in business. The Irustees are responsible for keeping proper aceowxiing records thai disclose with reasonable accurary ai any lime the financial position of th¢ ¢hariiy and enable them 10 eThsur¢ ihal th¢ fu)awial sthiem¢nts ¢onyly with th¢ arilics A¢1 2011, Ihe Charili¢s IA¢rounts a1 Rqw)rt5) R¢gul•iion$ 2008. and the provisions of Lhe ¢ort$titUllOTi. The Irusttts are also respottsibk for safeguarding the asseis of the Charity and he¢ for taking reasonable Mep5 for the prevcniion and deleciion of fraj aTwJ oiher irregularities. Th¢ In1¢¢$ are r¢sponsible for th¢ mainl¢narnc aThl ini¢gnly OC th¢ WQTate and finawial inforttIOn iMludcd on Ihc charilable COTnpanl5 web51tc. Lcgislatlon governing ¢1 wpataiion a]Kl dissemination of rlnancial statcnxnis rnay differ from le8islaiion in odKr juri5diciions. Approved by ihe ITUStces ofLhechariiy on 17 July 2025 and si¥ned on its behalf by.- S D Paver Try$i¥¢ Pa8¢ 6
Pavers Charlt2ble FoundatlOD Independent Examiner's Report lo the trustees of Pavers Chrilabk Foundation I rewn ro thc tru5tCCs on my cxaminaiion of thc accounts of Pa¥¢rs Chantsble Foundation for Ihc T ¢Nl¢d 31 January 2025. Re5pDnslblll¢l¢s and bagi$ of T¢lXJrt As the charity tTusiee$ of Pavels Charithbl¢ FOUlaTn you are rrywmsible f(v ihc preparation of ihe accounis in a¢¢ordance with the requirenThts of1 Chariiies Aci 201 I I'thc Act'l. I report in r¢sp¢¢i of my examinaiion of the Pavers Chantabk Poundatiort's accounis carrd oul undLT SLclion 145 ofihc 2011 Acl irt rarwng oui my cxaminalion I have followed 011 the applK(Ibl¢ Direciions giveli by th¢ Charily CoMIrnissi(KL undcr s¢¢iii)rt 14S5Mb) of ihe Ad. lrtdep¢nde¢ exami•eY'$ st*t¢meAt Sinee Pavers Charilable Foundaiion's gross income ¢x¢¢eded £250,{ your examiner must be a member of a body lisied in section 145 of the 2011 A¢1. l ¢onfimi thai l am qualified io undertake Ihe exanunation be¢4usc I am a member ofian Walker & Co. which is one of the Ibod bodies. I have compleied my examin10. I confLrn] thai M maierial tnattcTS have come my aiwiiion in ¢ODii¢ciion with ihc cxamination givillg me ¢ause 10 believe thai in any malerial respeci: l. accLNmiing records weye kepi in rtspecl of Pavers Chaniable Foundaiion as required by 5ertion 130 of the Act; or 2. the accwnis do noi accord wilh ihose rccords- or 3. the accounts do tK>t comply with ihe occounting l¢quientS COernIng the form aj contenl of accounls sei out in the Chariiie5 (Accounts and Reports) Regu13Liotts 23 orhcr than any requirent thai ihe ounts give a 'tr atMI fair view which is noi a matter considered as part of an independent exafflinaiion. I have Do ¢on4erns and have corne across 4AI)cr TnaUer5 in rontheciion with th¢ cxaminalion to which atlenlion shoiild bc ditywrt in thks r¢pon in order to enable a propLY UtKkrthnding of the acLOUrtts io be reaehcd. S J Morrell ACCA lan Walker & Co AL¢ountsn Ian Walker & Co Wellington Housc Aviaror Coun Clifton Moor York Y030 4UZ 17 July 2025 Pagc 7
Pavers Charitable Foundation Statement of Finncial Activilies lor the Year Ended 31 January 2025 U•rrle fMA Rutrkted fYnd5 Total 202S Noie Income and Endowments from: Donaiions and legacies Investment incon 389.275 13.725 82.905 472.180 13.725 Tolal JncoTh 403.(MMJ 82.W5 485.905 Expendilure ON: Raising fuThJs Charilable aclivilies (7,287) {366.505) 17.2871 1449.3261 {82.82l} Tolal expenditure 1373.792) 182,821) 456,613) Net income GaiTbslllossesl on invesimem assets 29,208 165.316 84 29.292 165,316 Nei movemeni in lld5 194J24 84 194.608 Reeothtlllailom of funds Total fitywjs broughi fonydrd 1.887.891 9.277 1.897,168 Total fu5 carried forward 14 2,082,415 9.361 Restricted f•nd5 2.091.776 Total 2024 Umrestricted rmftds N•te In¢ome and Endowmtnts from: Donaiions and legacies Inveien1 income 253.394 10.128 125.355 378.749 10.128 Total income 263.522 125.355 388.877 Expeudllure on: Raisin¥ fiJn(is Charilable activities 17.163 {226.184) 17.1631 1329.5441 {103.360) Total ¢xpendittr¢ 1233,347) 1103.3601 (336.7071 Net incon Gainsll1055es) on invcstnKnt as5¢ts 30.175 60.304 21.995 52.170 60.304 Nei movement irt fimds 90.479 21.995 112.474 Re¢oDcllitlon of funds Tothl funds broughi forward .797.412 112.718) 1.784,694 Total fvnds carried forvard 14 1.887,891 9,277 1.897.168 All of ihe charity's acLiViti¢s derive from continuing w110 during the a¥¢ pcriods. The funds breakdowTh for 2024 is shown in rrf>le 14. The noies on pag¢s 10 10 20 fomi an inieyal pan of these financwl stalcrncnls. Page 8
Pavers Chgritable Foundation {Regislralion number: 11759831 Balamce Sheet a$ at 31 Jaouary 2025 2025 2024 Note FiIed ass¢t5 Investnwnis 1,716,537 ,551,074 Currtnt assets Cash ai bank and in hand 12 379.109 349.814 Cr¢ditors: Amounts falling duc •#t )'tr 13 13,8701 13.7201 Nef current a55els 375.239 346.094 Net aMets 2.091.776 1.897.168 Fnds ofthe chArity: Re5tritted income fuTrds R¢stri¢ted funds 9 J6l 9.277 UDre5tritted incornc fulld5 Unrestricted filnds 2.082.415 1.887.891 Total funds 14 2,091.776 1,897,168 The final121 sth(eiMils on pages 8 10 20 werc approved by thc tru51et5. ¥nd authoris¢d for is5uc on 17 July 2025 and sign¢d on ih¢ir b¢half by.. S D Paver TTusIi The t¥)ies on pa 10 LO 20 forn) an iniegral part of these fina13] staiemenLs. Page 9
Pai'ers Charltable FouDdation Notes to ihe Financial Statemenls for the Year Ended 31 January 2025 l AccountiTh& policies StateDRnt of compllathce finRncial 5131¢TrKnts have been pr¢par¢d in a¢¢ordatK¢ with th¢ sc¢ond ediii¢)n of the Charities Stalcmcrtt of RecommeThJed PracTICC issued in Oclobcr 2019. Ihc FLnan¢ial Rewrting StatKlard applicablc in Ihe Unitcd Kingdom and RepublK o( Irelatwj IFRS 102) and the chan.iies Ath 2011. Ba5 of pr¢p•ration Pav¢rs Charitable Fowthiion nKels thc dcfinition of a public be(11 cn¢ity uThJ¢i FRS 102. The accounts Irinancial siaiementsi ha b¢en pr¢paTed under ihc hislorical cosi eonvelllion with lten rcc¢)gnis¢d at ¢¢Ysl or tran5aclion valur unlc55 oih¢twJsc ststrd in ihe relcvani notelsl to ihese accounts. Coin% concerm The Irusiees c¢)nsidei that Iher¢ are no material tyTKenainiies atrA)ui the ehariiys ability to continuc as a going conccrn. In¢ome and endowrntht$ Voluntary Income itLcluding t*)nJiioI gitl& 1¢8a¢Ks and grants thw PTovid¢ ¢ore fimdin8 or are of a general nature is recognJ5ed when the ehanty has enli¢letnenl to the iOe. li is probabk ihai the income will be re¢eivcd and the can nasur¢d 1h sufficlent [clbIlitY, Dotto1ioMs legrtcies Donation5 aiid legacies are rccogni5ed on a receivable basis when re¢eipt is pmbable and th¢ amount can be r¢liably measured. DivideTwJs are recowuscd once thc Ijivmler ha5 b¢¢N dlared aJKI ThtriCall0n been rcccived of Ihc dividcnd du¢. Expendlturt All expethdiiure is recognised once therc is a leKdl or construclivc obligation to thai expendiiute. li is probable seitlem¢ni is required and Ihe anMJuni can be measured reliably. All ros¢s are allocaied 10 the applicable ¢xpeTrdslure heading ihat aggreg21c similar cosis io that catc80ry. Whcre cos15 cann(A be directly aiiribultd 10 particular headin$ they hav¢ been •llo¢ai¢d on a bosis ¢onS1Cl with ihe se ol resources. with ccntral staff cosls allocaied on IhL' basis of lirne S1. and ¢knecwtion chhiges allocaied on t. wjrlion of ihe a5s¢I's use. Oih¢r support cosls are u1](ated ba%ed on spread of staff c0515. R4isin8furtd$ These are eosls incurred in atlrxling volunlary Inco. thc of invesbnents and ihost incurred in trJdJn¥ activilies ihai taise fuzth_ Chffnloble qcliviiies Charitsble expenditure cornprises those Costs incurred by the charity in the delivery of ils a¢tiviiies and seryices for its bcnefi¢iories. li in¢lud¢s boih costs Ihai can be alloCad directly 10 Such aciLViIIC5 and those ¢ost$ of an iTlTer( Tratut¢ tessary io supp)n lh¢ Pagc 10
Pavers Charilable Foundation Notes to the Financlal Statements for the Year Ended 31 January 202S (¢ontlnu¢d) Grfjmiprovislofts Provisions for 8ranls arc made vALcn lh¢ intcniion io make a grant has becTh comrnunicatcd to lh¢ recLPthI bul there 1$ unc¢rtainiy aboui ¢ither the iimirtg of Ihe gratLI or the amoLmi ofgram pay2ble. Support costs Support ¢osts Incl1¢ ¢•)tral fwKiions and have b¢LM allated io aciivxty wsl uiegories on a basis corLsislent with thc ofresouTC¢S. for ¢xomple. allwaiing PTOWY costs by floor areas, or per Capita, stsff ¢osis by t iimc speni and other costs by ihrir usa. Covernnee eosts These include the costs attributable to the charity'$ conv11ae w'ith Coltional xI stalory requirements. inc]JIng audii. straiegie management and ints(¢es m2eiings and reimbursed expenses. Txtio Th¢ chJriiy is considered 10 pass ihL' iests sei olli in Pardwdph I Schedule 6 of ihc Finance Aci 2010 Ji ¢hET¢fore li me¢is lh¢ d¢finiiion of a ¢haritsbl¢ conyny for UK ¢orwdiiOll tax purwses. Accordingly. lh¢ charity 1.4 po¢¢nlially taxJtion in rc5pccI of or capital gains received wjthin categones eovercd by ChaMer 3 Part I l of the Cor)allOn Tax Act 2010 or Seciion 256 of the Taxation of Char8eable Gains Act 1992. to the extent thai such incotne or Bal$ arc applied cxclu5ively lo charitable purw>5¢5. iitd #sset l#vstments Fixed assei inve5mieni& other rtn Prograft relaied invelltnems. are i1Jed al marke¢ value al the balance sheet date. Realised gains a1 losses on invemrnenis are calcuiaied as the difftrcnce beiween sales proceeds and Iheir marke¢ value ai rhe stari of the year, or their subsequeni COSL aNI are charged or ctedited the Siaiemeni of Financial A¢iivitie$ in ihe period of dis. Unrealised b4ins and ¢S reprts¢ Ihe nM)veNnl in markd volues during the year and arc credited or charged io the SuLmenL of FinarKial ActLVLlies bascd on the awkci value at ihe year end. Csh aAd cash equlvaknts Cash and cash ¢quivalenis ¢ompris¢ ¢a5h on haryl awj call dep)sits. and other short4enn highly liquid Inv¢$im¢nts that are readily wnv¢Tlibk to a kjwwn of ¢ash and are subjc¢t to an InsilfIcant risk of change in value. Borrowings Inier¢st.bearing borrowings are Initially rOrded ai fair valuc. of irarfjaction costs. Inieresi-bearing borrowings arc subsequently ¢3tried ai al>ed co#. wilh the dilference beiw¢en the pro¢¢¢ds, nei of transaction cosls. and the amouni due on Tedenyion bein¥ rec0wild as a charge io th¢ s1Ct of Financial Aeliviiies over Ihc period of rclewant F)mTrwing. Inter¢sl expcn5e is IccogDised on the b15 of cff¢dive ith¢ere4 th{1d is ittlwl¢d in inl¢r¢st payabl¢ and similar charges. Borrowings are classifKd as current liabilities unless the charity has an uncwdiiional ri8bi (o deter settlemenr of the liability for at least tH'elve months after the r¢p)rting dale. Pagcll
Pavers Ch2ritable Follndation Notes to the Financial Statements for the Year Ended 31 January 2025 (continued) structure Unr¢stri¢t¢d in¢¢)m¢ fvnds are g¢neral knls thal arc availablg foT uE¢ al the trust¢eslcommiti¢¢$ di%relion in furthciancc of lh¢ objtttivcs of thc rhaiily. Designai¢d fimds ar¢ ynT¢Mri¢i¢d funds s¢t as¢ for purposes ai discretmjn of the IrLL%tee5. Rc5trictcd irKornc fund5 are ihose donatcd foi use in a particular arra or for specifir puwpDses. the itse of which Is rrIcted io thai area or purpos¢. Page 12
Payers Charitable Foundation Notes to the Fin2neial Statemtnts for the Year Ended 31 January 2025 (eontinued) 2 Jn¢ome from donations kgacies UArestri¢ted (unds Dl%1¢d GeMer•l R¢strict¢d flld% Totxl 2•25 Total 2024 Donations 2nd l¢gaiies: Donations froln Pavcr5 Ljmiled Donaiion from Pav¢rs family 01 donations Regular giving and capital donations 310.454 310,454 8,0(NJ 148.726 211.302 1,225 166.222 65.821 82.5 5.000 384275 82.WS 472.180 378.749 Unre51ricted fuDds General Total 2015 Tolal 2014 Iniere51 receivable and skmilar inc0Th- Int¢resi r¢¢¢ivabl¢ on bank dcp051ts Other inconK from fixcd Jssci Invennts .473 12.252 1.473 12.252 1,008 9,120 13.725 13,725 10,128 4 Exp¢ndilwT¢ • rai5iNg al Investment management costs Unre51TiCted fuhds General Total 2D25 Tot1 2024 N• Other inve1 gennt cost5". Amounts payable to inv¢sinKni maMgers 7.285 7285 7.162 7287 7,2&1 7,163 Pa8¢ 13
Pavers Charitable Foundation Notes to the Financial Statements for the Year Ended 31 January 2025 (Continued) S Exp¢ndllire on eharilible aclivitles unreslri¢t fud$ Deslgnattd C¢Acr*l ReslTirt¢d fllllds TotAI 2025 N•te Grdnt ndiTh8 of a¢iiviii¢s Allocated sw)port costs 107.419 249.863 82.821 440.103 5.353 3.870 5.353 3.870 Gov¢mJn¢¢ ¢osts 107.419 259.086 82,821 449.326 Total 1024 Note C7rani funding of actilIeS Allocated siipport costs Gov¢mance ¢osis 323,9 16 1,908 3.720 329,544 Pagc 14
Pvers Charltsble Foundtion Notes to the Financial Statetnents for the Year Ended 31 Janurv 2025 (tontinued) 6 Aalys15 of %overnncE ¥Lnd suppDrl cost5 Other re50urc¢s ¢xp¢nd¢d Unre51ricied runds Gener1 RestrICtl f¥nds Total 2025 Tot*1 2024 Bank charges Tra1 aTMI 5ubsislence OffK¢ ¢osIs 1.831 173 3.162 187 2.018 173 3,162 996 153 665 S.166 187 5.353 1.814 Goi'er•antt ¢Mts U•restricttd Tot41 2025 Toi#l 2024 ITependent ¢xamin¢r fees Examination of th¢ finanLial statemcnt5 3.370 3.870 3.720 3.870 3.870 3.720 Analysis ofpr•nts Gran15 to institxtio 1025 2024 Analys15 Family Donatio Grant Donaiions CIMrity ofihe Ycar Ukraine Donauons 107,419 229.863 20,0(M) 82,821 42,765 120,447 57.5tN) 103.204 440.103 323.916 The 5UPPOrt costs a5sociatcd wilh gTrNI-mNking are £Nil {31 January 2024- £Nill_ Below are deLqils of maierial 8Tants pledged to Institutio. Page IS
Pgvers Charitable Follndatio Notes to the Financial Statemenls for ihe Year Ended 31 January 2025 (cohtlnued) 2025 21124 •f Instltutlon Hull Children's Universiiy Day Ollc Trauma Support Fulford School Irish CaTKcr Sociciy Childrens Society Nalional Autistic &)cicry Accessible Ans ond M¢di Young Mind5 Thc Princc's Tru Swan Bonni¢ Carslairs Suryii'e Blue Slaie Foundaiion Th¢ Childrens H05Pital Charity Frdmework Housing Association handandvoices.org Hope boundaiion HarTog3te Hospital Cambridge Stem Cell IFtstite LEPRA Peasholme Charity Ukraine Donaiions Other grants io insi11ut under £5.000 A¢tiiity 10,000 10,(MKJ 10.(KK) 11,742 10.0 10,(MJo i 0.000 i 0,000 5,000 20,0 10.( 10.000 15.000 5,OlX 5.5 10,0 10.000 5.000 82,821 103.2 226.940 440.103 140.715 323.919 At the 3 1st January 2025 of those GTrThls pledgrf £24.950 remoirt withheld by ihe Cluriry. This was du¢ io ck of fvifilm¢nt of ihe Grani criteria by the receiving pany. as diaaicd by ihe Pavers Chantsble Foundation. 8 Tte¢S remuneratlon And txpen5e5 No ITU51ees. nor any pcr51JTL% conthe¢ied th Iheff4 have teceived ony remuneration from Ihe charily during thc year. No In1¢¢$ bav¢ received any reitnbursed experses from the clwity duiing the year. 9 Independent tiaminer's MlleratIoD 2(125 2024 Exaniinaiion of t1 financial state0ts 3.870 3.720 Page 16
Pavers Charitable Foundation Notes to the Financial Statements lor the Year EDded 31 January 2025 (continued) l• Txatlon The chanty 15 a regislcred charity aj is thcreforc cxemp¢ from tsxaiion. I l Flxed et IDvestments 21125 2024 her inveMrnen15 1.716.537 1.551,074 Oiher INveslmeThts Listed iDI-estmenls Tot#1 Cost or V4lullon Ai l F¢brtry 2024 1.551.074 1.551,074 165,316 165,316 398,993 398,993 (398.8461 1398,8461 Rcvaluarion Additio Disp)sols Ai 31 Janllary 2025 1.716.537 .716.537 Net book i'alue At 31 JaTwary 2025 .716,537 ,716,537 Al 31 January 2024 1.551.074 1,551.074 The historical investmcnt cost for ihe Chariws portfolios was £1.911.(KK). 12 C4sh 4nd equivalents 2025 2024 Cash at bank 379.1(P) 349.814 13 Creditors-. fxlling dt one }ur 202S 2024 Accruals 3,870 3,720 P•8¢ 17
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Pavers Charil$ble FouDd4tlon Notes to the Financial Statements for th¢ Year Ended 31 January 2025 (continued) 15 Anafvsi5 of •el a55e15 between UDrestTiCttd Totxl funds at 31 Restricted funds GentYl 2025 Fixed a5SCt investments Curreiit assets Curreni liabiliries .716.537 369.747 13,8701 ,716.537 379.109 (3,870) 9,362 Toial t)LM asseis 2.082.414 9.362 2,091.776 U•restri¢ted f¥ods Ctneril To¢al funds at 31 J•nury 2024 Resirl¢ttd fund5 Fixed assct investrnen¢s Currcni assets CU¢Trt liibililies 1.551.074 340.537 13.7201 .551.074 349.814 (3,7201 9,277 Tal net assL 1.887.891 9.277 1.897.168 16 Rel4ted party IranMtti•#s One Tnjsltt LS also a director of Pavers Lkmii¢d. During the year. donaiions trtalling £310,45412024.. £211.302) were made by PaveTS Ljmiied 10 Chanty. Pagc 20