Charity number: 1187536
PATRIK'S TRUST
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PATRIK'S TRUST
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 4 |
| Independent Examiner's Report | 5 - 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 - 15 |
PATRIK'S TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025
| Trustees | J Biel |
|---|---|
| K Pogwizd | |
| I Fishman | |
| Charity registered number 1187536 Principal office Flat 5 Milliners Court 137 Millway London NW73JL Accountants Nyman Libson Paul LLP 124 Finchley Road London NW3 5JS Bankers Metro Bank Unit 8 Bridge Retail Park Southall Southall UB4 ORH |
Page 1
PATRIK'S TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their annual report together with the financial statements of the Charity for the 1 April 2024 to 31 March 2025.
Objectives and activities
a. Policies and objectives
The charity's objecives are to provide shelter, relief of financial hardship and support to people with no recourse to public funds; predominantly refugees seeking asylum, but also others without a legal status.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Strategies for achieving objectives
The charity will meet its objectives through:
-
Purchasing buildings and making them available for low or no rents to organisations meeting this need.
-
Where necessary developing the purchased buildings to make them suitable to meet the objectives. - Provision of grants to organisations meeting this need.
Achievements and performance
a. Main achievements of the Charity
The charity received £31,200 (2024: £31,200) rental income from the Catholic Workers Farm, on the social investment property it owns.
Donations of £4,048 (2024: £6,889) were received during the year relating to a charity bike ride. Total donations in 2024 were £210,189 due to other donations. Two of the Trustees undertook a bike ride to raise funds for the Trust, and raised £4,048.
Expenditure on loan interest, legal and professional and sundry fees totalled £23,786 (2024: £58,956), resulting in a surplus for the year of £11,462 (2024: £158,544).
£33,000 was repaid on the loan given by McGovern Haulage Ltd, to cover both the interest charged and the Capital repayments.
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PATRIK'S TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Financial review
a. Going concern
As mentioned in the reserve policy, the charity has negative free reserves at the reporting date. The majority of these liabilities relate to a long-term loan, which is guaranteed by the trustees, as disclosed in note 13.
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The Trust was formed in January 2020 and continues to receive charitable donations as well as rental income. These funds are presently being utilised in repaying the loan from McGovern Haulage Ltd and during the year £33,000 was repaid. Once this loan has been repaid, the Trust hopes to raise further funds so that it can purchase further buildings and make them available for low or no rents to organisations who provide shelter, relief of financial hardship and support to people with no recourse to public funds.
The reserves balance is £1,279,648 as at 31 March 2025 (2024: £1,268,186). £1,600,000 of reserves is the investment in Lynsters farm so the free reserves balance is negative £320,352. This is due to the loan which was used to purchase the property, and is being paid off by donations and rental income.
c. Principal funding
The charity is funded by donations and any income it can generate from its social investment property.
Structure, governance and management
a. Constitution
Patrik's Trust is a registered charity, number 1187536, and is constituted under a Constitution.
b. Methods of appointment or election of Trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Constitution.
Plans for future periods
The charity plans to use its social investment, Lynster's Farm, to meet its charitable objectives in the future.
The trustees would like to reinstate the development project and will attempt to find a wealthy benefactor who might like to have the new wing named after them or their company.
The trustees will continue to source new donations from organisations having a budget to make such donations.
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PATrIK% TrUST TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 PAARCH 2025 statement of Trusts•%' rty>onslbllltles The Trustees are responsible for weparing the Trustees, Report and the finanaal slalemenlg in accordanee with applicable law United lQngdom Accounting StaThJards (United KirYJlom Generally Accepl8d Accounting Practic81. The law appllcabte to charélles In Engl & Wales requlres Ihe Trustse8 lo prepar8 flnandal 8t818ment8 for aach finanaal which give a tru8 and fair vivw of th8 5tste of affair5 of the Charity and of its incoming resgur¢g5 and appllcation of resources. induding its inc¥)me 8ThJ expendilure. for that period. In prwrir¥J these financkql sl818m8nl8. tha Tru81808 8re raquired to". sdoct $uitAbb accounting p)lioo8 ond thon appty them conw81enty, observe Ihe methods and principl8s of the Ch8rlties SORP (FRS 1021; make judgments and ac£ounting estimates thal are reasonab and pnJd8nl: stsle whether 8ppllcaUe UK Accwntlng Standards (FRS 102) have been follovled, 6ublect to any material dèparturps disfj1050d and èxplained in the financial statsmonts.. prepare the financial stslements thg going basi5 unle¥s it is inappropriale to prg8umo Ihat ih¢ Charity will continue in business. The Trusla¢$ ar0 foSkTh)nsile for kwng ad&]uale affountry recoryls that are suffident to show and Oxplaln the Charills transaclions aTrJ disdos8 wilh reasonable accuracy at any time the financial position of the Charity and enable Ihem to 8nsura ihal the financial slalaments compty the charit9 Act 2011. th8 Charty Accounts and Reports) Regulations 2008 and the KolonS of the Constitsjtion. They are also responsible ft)r S8feguarding the assets of th8 Chartty and hence for laknng reasonats sto the PreVenOn and dgteGlion of fraud and other irregukn'lie& Approved by o e membèrs of board of Truslè•s ar sNJned on Ih8if b8half ty. In l Flyh Tnjsle Date: 22 September 2025 Page 4
PATRIK'S TRUST
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025
Independent Examiner's Report to the Trustees of Patrik's Trust ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2025.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
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PATRIK'S TRUST
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Signed: Robert Maskey ACCA
Dated: 22 September 2025
Nyman Libson Paul LLP, Chartered Accountants, 124 Finchley Road, London, NW3 5JS
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PATRIK'S TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| Note Income from: Donations and legacies 3 Social Investments 4 Total income Expenditure on: Raising funds 5 Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2025 £ 4,048 31,200 35,248 - 23,786 23,786 11,462 1,268,186 11,462 1,279,648 |
Total funds 2025 £ 4,048 31,200 35,248 - 23,786 23,786 11,462 1,268,186 11,462 1,279,648 |
Total funds 2024 £ 210,189 31,200 |
|---|---|---|---|
| 241,389 | |||
| 3,889 78,956 |
|||
| 82,845 | |||
| 158,544 | |||
| 1,109,642 158,544 |
|||
| 1,268,186 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 15 form part of these financial statements.
Page 7
PATRIICS TRUST BALANCE SHE AS AT 31 MARCH 2025 2025 2024 Flxed assets ial investments 10 I.6.( 1.600,CQO 1,6.ocKI 1.600.000 Currnnt a8s•ts Cash al bank aryj in h8nd 7.713 7.005 7.713 7.005 Credltors". amounts laulng du8 wlthln on8 year 121.405> <17.9651 Not curr•nt Ilabllttl (13.6921 I10,0) T¢)tal ass•ts1oM clifT• Ilablllll•s 1.586,308 1,589,040 Creditors.. amounts falling du8 after mor8 than one year 12 {3(fj.6601 {320,8541 N•t *M•ts •xcludlng p•n•lon a•••t 1.279.648 1,268,186 Totsl bWt as••ts 1,279,648 1,288,186 Charity funds Unrestricted fvnds 13 1,279,648 1.268,186 Total fund• 1,279.648 1.268,186 Th8 financlal statements were approvèd authorised for issug by tho Trustees on 22 September 2025 and svjned on their b$hall by. rusteel The notes on pages 9 to 15 form part of Ihese financial ststements. Pag8 8
PATRIK'S TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. General information
Patrik's Trust is a charitable incorporated organisation and registered in England and Wales. The address of the registered office is Flat 5, Milliners Court, 137 Millway, London, NW7 3JL.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Patrik's Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
Income consists of donations and rents received. All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
2.3 Expenditure
Expenditure is recognised once there 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 on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
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PATRIK'S TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
2. Accounting policies (continued)
2.4 Social investments
Social investments are those investments held to further the charitable purpose of the charity, in this instance a mixed-motive investment, comprising a freehold property. Although income generating, the property is held to a significant extent for the contribution it makes to the charity’s charitable aims, thus it is not classified as an investment property. The property is stated at cost less impairment and is not depreciated due to the expected residual value to be greater than the historical cost recorded in the financial statements. Social investments are reviewed for impairment annually.
2.5 Cash at bank and in hand
Cash at bank and in hand includes cash held by the charity and cash held by solicitors on the charity's behalf.
2.6 Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.7 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
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PATRIK'S TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
3. Income from donations and legacies
| Donations 4. Investment income Investment income - rent from social investment properties 5. Expenditure on raising funds Costs of raising voluntary income Costs relating to charity bike ride |
Unrestricted funds 2025 £ 4,048 Unrestricted funds 2025 £ 31,200 Unrestricted funds 2025 £ - |
Total funds 2025 £ 4,048 Total funds 2025 £ 31,200 Total funds 2025 £ - |
Total funds 2024 £ 210,189 |
|---|---|---|---|
| Total funds 2024 £ 31,200 |
|||
| Total funds 2024 £ 3,889 |
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PATRIK'S TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
6. Analysis of grants
| Grants to | Total | Total | |
|---|---|---|---|
| Institutions | funds | funds | |
| 2025 | 2025 | 2024 | |
| £ | £ | £ | |
| Donations paid to the Catholic Worker Farm | - | - | 20,000 |
7. Analysis of expenditure by activities
| Donations paid Legal & Professional fees Accountancy fee Loan interest Sundry costs |
Donations 2025 £ - - - - - - |
Support costs 2025 £ - - 4,980 18,806 - 23,786 |
Total funds 2025 £ - - 4,980 18,806 - 23,786 |
Total funds 2024 £ 20,000 33,337 3,300 22,315 4 |
|---|---|---|---|---|
| 78,956 |
8. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £1,000 ( 2024 - £1,000 ) , and accountancy fee of £3,980 (2024 - £2,300).
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PATRIK'S TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
9. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - NIL).
10. Tangible fixed assets
Social investments
| Net book value At 31 March 2025 At 31 March 2024 |
Mixed- motive investments £ 1,600,000 |
|---|---|
| 1,600,000 |
11. Creditors: Amounts falling due within one year
| Other creditors Accruals and deferred income |
2025 £ 17,265 4,140 21,405 |
2024 £ 14,665 3,300 |
|---|---|---|
| 17,965 |
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PATRIK'S TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
12. Creditors: Amounts falling due after more than one year
Other loans
| 2025 | 2024 |
|---|---|
| £ | £ |
| 306,660 | 320,854 |
The loan is for £500,000 and attracts interest of 6% per annum. The guarantors are two trustees, Mr K Pogwizd and Mr J Biel. The loan term is 5 years, expiring 15 June 2026, but partial or full repayment can be made at any time.
13. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Statement of funds - prior year Unrestricted funds General Funds - all funds |
Balance at 1 April 2024 £ 1,268,186 Balance at 1 April 2023 £ 1,109,642 |
Income £ 35,248 Income £ 241,389 |
Expenditure £ (23,786) Expenditure £ (82,845) |
Balance at 31 March 2025 £ 1,279,648 |
|---|---|---|---|---|
| Balance at 31 March 2024 £ 1,268,186 |
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PATRIK'S TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
14. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Social investments (fixed assets) Current assets Creditors due within one year Creditors due in more than one year Total |
Unrestricted funds 2025 £ 1,600,000 7,713 (21,405) (306,660) 1,279,648 |
Total funds 2025 £ 1,600,000 7,713 (21,405) (306,660) 1,279,648 |
|---|---|---|
15. Related party transactions
During the year related parties made donations to the charity totalling £nil (2024: £3,300).
During the year the trustees took part in a charity bike ride, which incurred costs of £nil and raised donations of £4,048.
The charity is supported by loan finance, with the charity's trustees providing guarantees as detailed in note 12.
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