Charlty Rogistratlon No. 209993
THE PAWNBROKERS CHARITABLE INSTITUTION
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

THE PAWNBROKERS CHARITABLE INSTITUTION
LEGAL AND ADMINISTRATIVE INFORMATION
Reglstered Charlty Number
209993
Chalrperson
DALPage
Treasurer
J Tannahill
Trustees
P M Diaper
K Lyons
K Raper
DALPage
J Tannahill
Management Committee
A Bratton
P M Oiaper
K Lyons
K Raper
Flnance Sub-commlttee
P M Diaper
K Raper
DALPage
J Tannahill
Adminlstrator
MrsKLWay
Prlnclpal addre88
Grasmere
Dearleap Lane
Knockholt
Sevenoaks
Kent
TN14 7NP
Audltor
Baxter & Co
Lynwood House
Crofton Road
Orpington
Kent
BR6 8QE
Bankers
Lloyds PLC
Orpington Branch
177-179 High Street
Orpington
Kent
BR6 OLJ
Investment Managers
JMFinn&Co
25 Copthall Avenue
London, EC2R 7HA

THE PAWNBROKERS CHARITABLE INSTITUTION
CONTENTS
Page
Trustees, report
statement of Trustees, responsibilities
Independent auditor's report
Statement of flnancial activities
10
Balance sheet
11
Notes to the accounts
12-20

THE PAWNBROKERS CHARITABLE INSTITUTION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 OCTOBER 2024
The Trustees present their annual report and financial statements for the year ended 31 October 2024.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts
and Comply with the charity's trust 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).
Structure, governance and management
The Institution was established in 1823 by Master Pawnbrokers for the relief of sick and aged assistants. In 1834
it was agreed to extend the relief to Masters, their widows and children of all members ofthe trade and in 1850
Alms Houses were built at West Ham, Essex for their occupation.
In the year 1897, with the approval of the Governors of the Charity, and the sanction of the Charity
Commissioners. the Alms Houses were abandoned in favour of a scheme for the development of the estate by
building on the land. Several shops were built and ground leases granted for the erection of others.
In 1968 the estate was sold by auction at the London Auction Mart for the sum of £367,000 to the Prudential
Assurance Company. After payment of the expenses the net amount of £358,420 was invested in wide-range
and narrow-range securities (gilts and equities) on advice of our stockbrokers, and with the agreement of the
Offi'cial Custodian of Charity Funds.
The trustees are appointed by the Management Committee and their r&appointment is reviewed at the Annual
General Meeting held on the first Tuesday of December each year. The Institution's Deed requires that there
shall be no less than four trustees and that any new members automatically become a trustee. All trustees must
attend a minimum of four meetings of the Management Committee each year. Failure to do so will empower the
Management Committee to call a Special General Me&ling to remove the said trustee or to remove the said
trustee at the next Annual General Meeting, whichever is considered appropriate by the Management
Committee.
The Trustees and Management Committee meet on the first Tuesday of each month. At the monthly meetings the
Trustees and Management Committee review applications PLrt fomard to them for renewal, together wlth any
new requests for financial assistance. Thereafter, each applicant has to re-apply for assistance on a yearly basis.
The day-to-day administration of grants and the processing and handling of these applications prior to
consideration by the Trustees and Management Committee is delegated to the administrator.
Rlsk management
The Trustees and Management Committee are fully aware that the portfolio of investments is the institution's only
form of income. Therefore, it is monrtored @ach and every quarter with the stockbroker ensuring that suffici8nt
funds are available to ensure that the Institution's priority is to maintain grants for their beneficiaries. The
Trustees and Management Committee together with the slockbroker always invest with a medium risk policy. and
to this end the stockbroker, on a discretionary basis, guides the Trustees and Management Committee of the
best way to achieve future income and capital growth. The Trustees and Management Committee are aware that
the stock market is not 1000/0 guaranteed and to this end they exercise and discuss other paths to take if the
need arises, making sure that the institution is not without funds for their beneficiaries.
Objectlves and activltles
The objectives of the Institution are to make sure that the portfolio of investments is closely mcnitored, enabling it
to provide sufficient revenue to maintain the govemance costs of the Charity and award yearly grants to
beneficiaries.

THE PAWNBROKERS CHARITABLE INSTITUTION
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
Grant maklng pollcy
It 15 the responsibility of the Trustses and Management Committee to ensure that grants are only made to
genuine applicants apptying for financial assistance. All applicants h8ve to have worked within Ihe pawnbroklng
buslness for at least five years, or less at the Trustees, I Committee's discretion, and sufficient infomiation Is
recorded proving that they ar8 genuinely in need of finanaal help.
Achlevements and perfomance
The Trustè88 and Management Commlttee, together with the st<Kkbroker. have managed the portfollo In line wlth
the prevailing market conditions enabling the Institution to continue to award annual grants to beneficiaries.
Flnanclal revlaw
Thè Institution is reliant on the incom8 from its investments. which vR6 £124,153 as W811 as (xpital grovAh. From
this, the sum of £94,633 was awarded to 23 applicants of whom 3 were over 90 years old, four over 80 years old,
nine over 70 years old, four over 60 years old, 2 over 50 years old, and one Dver 30. Of the 23 applicants, 17
were female and 6 were male.
The amount of grants awarded within this financial year was £3.977 lèss than last year. Christmas and 8ummer
g1ft8 totalling £24,200 were awarded to appllcants, In addition to the sum of £94,633.
During the year, a totsl amount of £95,773 was paid out in mijithty payments to 23 beneficlarles. Due to the sad
loss of an applicant, the PCI will commence th8 nexl financial year 202412025 with 8 totsl of 22 beneficiarles.
Th18ts06' rnsponslbllltlu In relatlon to tho flnance statomant8
The Trustees are responslble for keeping accounting records vthlth dlsclose with reasonable accuracy the
flnancial posltlon of th8 charity. and whlch enable them to ensure that these financial statements comply wlth the
Charfties Act 1993, the Charity (Accounts and Reports) Regulations 8nd the provlsion of the Institution's Deed.
Thè Trustees are responsible for safeguarding the assets of the tharlty and hence for taklng reasonable sleps for
the prevention and detection of fraud and other irregulariti8S.
The Trustees, report was approved by the Board of Trustees.
Trustee
Dated: 3 December 2024
Trustee
//

THE PAWNBROKERS CHARITABLE INSTITUTION
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 OCTOBER 2024
The Trustees are responsible for preparing the Trustees. Report and the accounts in accordance with applicable law
and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare accounts 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
application of resources of the charity for that year.
In preparing these accounts. the Trustees are required to..
select suitable accounting policles and then apply them consistently;
observe the methods and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudent..
state whether applicable accounting standards have been followed, subject to any material departures disclosed
and explained in the accounts,, and
prepare the accounts on the going concern basis unless it is inappropriate to presume that the d)arity wlll continue
in operation.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at
any ts'me the financial position of the charity and enable them to ensure that the accounts comply wrth the Charities
Acl 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also
responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and
detection of fraud and other irregularities.
Insofar as the trustees are aware'.-
there is no relevant audit information of whlch the charity's auditor is unaware, and
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit
information and to establish that the auditor is aware of that information.

THE PAWNBROKERS CHARITABLE INSTITUTION
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THE PAWNBROKERS CHARITABLE INSTITUTION
In our opinion, the financial ststements:
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditors responsibilities lor the audit ol
the financial statements section of our report. We are independent of the charity in accordance with th8 ethical
requlrements thal 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 responsibiilities 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.
This report is made solely to the charity's trustees, as a body, in accordance with regulations made under section
154 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the charity's trustees
those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's
trustees as a body. for our audit work, for this report, or for the opinions we have formed,
give a true and fair view of the state of the charity's affairs as at 31 October 2024 and of its Incoming
resources and application of resources. for the year then ended.,
have been properly prepared in accordance wlth United Kingdom Generally Accepted Accounting Pract1￿..
and
have been prepared Sn accordance with the requirements of the Charities Act 2011.
Basls for oplnlon
We conducted our audit in accordance with International Standards on Auditing (UK) IISAS {UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit ol
the financial statements section of our report. We are independent of the charity in accordance with the ethical
requlrements that are relevant to our audit of Ihe financial statements in the UK, including the FRC'S Ethical
Standard. and we have fulfllled our other ethical responsibilities 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.
Scope of the audlt of the financial statements
An audit involves obtaining evidence about the amount and disclosures in the accounts sufficient to give reasonable
assurance that the accounts are free from material misstatement, whether caused by fraud or error. This includes
an assessment of.. whether the accounting policies are appropriate to the Charity's circumstances and have been
consistently applied and adequately disclosed., the reasonableness of signiflcant accounting estimates made by the
Trustees,. and the overall presentation of the accounts. In addition, we read all the financial and non-financial
information in the Trustees Report to identify material inconsistencies with the audited accounts. If we become
awafe of any apparent material misstatements or inconsistencies, we consider the implications for our report.
Con¢luslon8 relatlng to golng concern
In auditing the financial slatements. we have concluded that the Trustees, use of the golng concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed. we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going
oncern for a period of at least ￿e1ve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the
relevant sections of this report.

THE PAWNBROKERS CHARITABLE INSTITUTION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE PAWNBROKERS CHARITABLE INSTITUTION
Other information
The other information comprises the information included in the trustees, annual report, other than the financial
statements and our auditor's report thereon. Th8 trustees are responsible for the other information. Our opinion on
the financial statements does not cover the other infomation and, except to the extent otherwise explicitly stated in
our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other
information and, in doing so, consider whether the other Infomiation is materially inconsistent with the financial
ststements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If
we identify 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 perfofmed, we conclude that there is a material misstatement of this other information, we are required to
report that fact.
We have nothing to report in this regard.
Matters on whlch we are required to report by exceptlon
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the
audit. we have not identified material misstatements in the trustees. report.
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and
Reports) Regulations 2008 require us to report to you if, in our opinion..
the information given in the financial statements is inconsistent in any material respect wittt the Trustees,
report., or
sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records,, or
we have not received all the information and explanations we require for our audit,

THE PAWNBROKERS CHARITABLE INSTITUTION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE PAWNBROKERS CHARITABLE INSTITUTION
Responsibilitles of Trustees
As explained more fully in the Statement of Trustees Responsibilities, the trustees are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and for such
internal control as th8 trustees determine is ne￿Ssary to enable the preparation of the financial statements that are
free from material misstatement, whether due to fraud or error.
In preparing the accounts, the trustees are responsible for assessing the charity's ability to continue as a going
concern, disclosing, as applicable, rnatters related to going concern and using the going con￿rn ba￿$ of
accounting unless the either intend to cease operations, or have no realistic alternative but to do sc.
Audftorf$ responglbllities for the audlt of th• financlal statements
Our objeclives 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 audSt conducted in accordance
with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arlse from fraud or
error and are considered material if, individually or in the aggregate, they could reasonably be expected to inlluence
the economic decisions of users taken on the basis of these financial statem8nts.

THE PAWNBROKERS CHARITABLE INSTITUTION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE PAWNBROKERS CHARITABLE INSTITUTION
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in
line with our responsibilities, outlined above, to deted material misstatements in respect of irregularities, including
fraud. The exient to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the charity and the sector as a whole, and through discussions with the trustees and
other management (as required by auditing standards), we identified that the principal risks of non compliance wilh
laws and regulations, related to the Companies Act, the Charities Act, and safeguarding.
Our approach was as follows.,
We obtained an understanding of the legal and regulatory requirements applicable to the charity and
considered that the most significant are the Charities Act 2011, the Charity SORP, and UK financial
reporting standards as issued by the Financial Reporting Council.
We obtained an understanding of how the charity complles with these requirements by discussions with
management and those charged with governance.
We assessed the risk of material misstatement of the financial statements, Including the risk of material
misstatement due to fraud and how it might occur, by holding discussions with management and those
charged with governance.
We inquired of management and those charged with governance as to any known instances of non-
compliance or suspected non-compliance with laws and regulations.
We evaluated trustees and managements incentives and opportunities for fraudulent manipulation of the
financial statements (including the risk of override of controls) and determined the principal risks related to
posting inappropriate journals to manipulate revenue or expenditure.
Based on this underslanding, we designed specifi'c appropriate audit procedures to identify instances of
non-compliance with laws and regulations. This included making 8nquires of management and those
charged with governance and oblaining additional corroborative evidence as required.
In addressing the risk of fraud due to management override of internal controls we tested the
appropriateness of journal entries and assessed whether the judgements made in making accounting
estimates were indicative of a potential bias.

THE PAWNBROKERS CHARITABLE INSTITUTION
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE TRUSTEES OF THE PAWNBROKERS CHARITABLE INSTITUTION
Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some
material misstatements in the financial statements. even though we have properly planned and performed our audit
in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-
detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the
override of intemal controls. We are no responsible for preventing fraud or non-compliance with laws and
regulations and cannot be expected to detect all fraud and non-compliance wth laws and regulations.
As part of an audit in accordance with ISAS (UK) we exercise professional judgement and maintain professional
scepticism throughout the audit. We also..
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or
error, design and perform audit prO￿dureS responsive to those risks, and obtain audit evidence that is
sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material
misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion,
forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of
charily's internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates
and related disclosures mad8 by the trustees.
Conclude on the appropriateness of the trustees, use of the going con￿rn basis of accounting and, based
on the audit evidence obtained, whether a material uncertainly exists related to events or conditions that
may cast significant doubt on the group and parent charitable company's ability to continue as a gong
concern. If we conclude that a material uncertainty exists, we are required to draw attention in ou r auditor's
report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify
our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's
report. However, future events or conditions may cause the group or parent charitable company to cease
to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the
disclosures, and whether the financial statements represent the underlying transactions and events in 8
manner that achieves fair presentation (i.e. gives a true and fair view)-
We communicate with those charged wlth governance regarding, among other matters, the planned scope and
timing of the audit and significant audlt findings, including any significant deficiencies in Intemal control that we
identify during our audit.
Use of our report
This report is made solely to the charity's trustees. as a body. in accordan￿ with part 4 of the Charities (Accounts
and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the chanty's trustees
those matters we are required to stste to them in an auditor's report and for no other purpose. To the fuSlest extent
permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's
trustees as a body, for our audit work, for this report, or for the opinions we have formed.

THE PAWNBROKERS CHARITABLE INSTITUTION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE PAWNBROKERS CHARITABLE INSTITUTION
axter & Co
10 10
Chartered Accountarrts
Statutory Auditor
Lynwood House
Crofton Road
Orpington
Kent
BR6 8QE
Baxter & Co is eligible for appointment as auditor of the charily by virtue of its eligibility for appointment as auditor of
¢ompany under section 1212 of the Companies Act 2006.

THE PAWNBROKERS CHARITABLE INSTITUTION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 OCTOBER 2024
Unrestricted
funds
2024
Unrestrlcted
funds
2023
Notss
Income from:
Investments
124,153
125,098
Total Incoma
124,153
125,096
Expendlture on:
Raising funds
Chantable activitles
16,597
169,234
16,452
165,137
Total expendlture
185,831
181,589
Net gainslllosses) on investments
11
327,659
(189,573)
Net Incomellexpendlturel and movement In fund8
265,981
(246,066)
Reconclllatlon of funds:
Fund balances at 1 November 2023
3,231,695
3,477,781
Fund balances at 31 October 2024
3,497,676
3,231,695
10-

THE PAWNBROKERS CHARITABLE INSTITUTION
BALANCE SHEET
ASAT 31 OCTOBER 2024
2024
2023
Notos
Flxed assets
Investments
Current assets
Debtor5
Cash at bank and In hand
13
3,431.306
3.147,617
14
2,630
71.407
1.208
89,996
74.037
91,204
Crodltors: amounts falllng due wlthln
one year
15
(7,66n
(7,126)
Net current assets
66,370
84,078
Totsl ass•ts l•ss curr•nt Ilabllltles
3,497,676
3,231,695
Incom• funds
Unrestricted funds
3,497,676
3,231.695
3.497,676
3.231.695
The accounts V￿re approved by the Trustees on 3 Decamber 2024
Tru8toe
Truste•
11

THE PAWNBROKERS CHARITABLE INSTITUTION
BALANCE SHEET
AS AT 31 OCTOBER 2024
Critical accounting estlmates and Judgements
In the application of the charity'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 review&d on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects ¢xly that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Aecountlng pollcle8
Charlty Informatlon
The Pawnbrokers Charitable Institution is an unincorporated charity governed by the Scheme of
Commissioners dated 13 January 1993 as amended by resolution dated 6 De￿mber 2016.
2.1 Accountlng convèntlon
These accounts have been prepared in accordance with FRS 102 "The Financial Reporting Standard
applicable in the UK and Republlc of Ireland. I'FRS 102,1, 'Accounting and Reporting by Charitl8s' Ihe
statement of Recommended Practice for charities applying FRS 102, the CharitiesAct 2011 and UK Genera15y
Accepted Accounting Practice as it applies from 1 January 2015. The charity is a Public Benefit Ently as
defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention, modified to include the revaluation of
Investments and certain financial instruments at fair value. The principal accounting policies adopted are set
out below.
2.2 Golng concern
Al the time of approving the financial statements, the Trustees have a reasonable expectation that the charity
has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees
conts'nue to adopt the going concern basis of accounting in preparing the financial statements.
2.3 Charitable funds
The chanty has an expendable endowment fund. The income of this fund is used for providing grants to
individuals who are sick, infirm or distressed pawnbrokers. their widows and children. The terms of the
endowment allow the capital of the fvnd to be spent if the trustees so determine. This is an Unrestricted fund.
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable
objectives unless the funds have been designated for other purposes.
Restricted funds are subject to specific conditions 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 maintsined by the
charity.
2.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performan￿ conditions have been met,
th8 amounts can be measur8d reliably, and it is probable that income will be received.
12-

THE PAWNBROKERS CHARITABLE INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
Accountlng policies
(Continued)
Cash donations are recognised on receipt. Other donations are recognised once the charity 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 otherwse if the charity 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.
2.5 Resources expended
Liabilities are recognised as expendlture as soon as there is a legal or constructive obligation committing the
Charity to that expenditure. It is probable that settlement will be required and the amount of the obligation can
be measured reliably.
All &xpenditure is accounted for on an accruals basis. All expenses including support costs and govemance
costs are allocated or apportioned to the applicable expenditure headings. For more information on this
attribution refer to 2.8 below.
Grants payable are payments made to third parties in the furtherance of the charitable objects of the Trust. In
the case of an unconditional offer this is accrued once the recipient has been notified of the grant award. The
notification gives the recipient a reasonable expectation that they will receive the one-year or mulli-year grant.
Grants awards that are subject lo the recipient fulfilling performance conditions are only accrued when the
recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is
outside of the control of the charity.
Irrecovarable VAT is charged against the expenditure heading for which it was incurred.
2.6 Flxed asset investments
Investments are a form of basic financial instrum8nt and are initially recognised at their transaction value and
subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.
The statement of financial activities includes the net gains and losses arising on revaluation and disposals
throughout the year.
The Charity does not acquire put options, derivatives or other comp5ex financial instruments.
The main form of financlal risk faced by the Charity is that of volatility In equity markets and investment
markets due to wider economic conditions, the attitude of investors to investment risk, and changes in
sentiment concerning equities and within particular sectors or sub sectors.
2.7 Cash and cash equlvalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
13-

THE PAWNBROKERS CHARITABLE INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
Accounting pollcies
(Contlnued)
2.8 Allocatlon of Support and Governance costs
Support costs have been allocated be￿een governance costs and other support costs. Governance costs
comprise all costs involving the public accountability of the Charity and its compliance with regulation and
good practice. These costs include costs related to statutory audit and legal fees together with an
apportionment of overhead and support costs.
Governance costs and support costs relating to charitable activities have been apportioned based on
estimated activity levels where 850/0 of staff costs and 900/0 of office rental and costs relate to awarding,
moniloiing and assessing. and payment of grants relating to charitable activities. The allocation of support and
governance costs is analysed in note 7.
The costs of generating funds consist of investment management costs.
The costs of charitable activities include grants made, governance costs and an apportionment of support
costs.
2.9 Realised galng and108ses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses
on investments are calculated as the difference be￿een sales proceeds and their opening carrying value or
their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses
are calculated as the difference between fair value al Ihe year end and their carrying value. Realised and
unrealised investment gains and losses are combined in the Statement of Financial Activities.
2.10 Contingent Ilablllties
A contingent liability is identified and disclosed for those grants resulting from..
a possible obligation which will only be confimied by the occurrence of one or more uncertain
future events not wholly within the trustees, control, or
present obligation following a grant off8r where settlement is either not considered probable., or
the amount has not been communicated In the grant offer and that amount cannot be estimated
reliably.
Investments
2024
2023
Dividends - equities
Interest - securitses
Interest on cash deposits
Distributions- UK property
100,222
17,428
827
5,678
104,080
11,263
542
9,211
124.153
125,096
14-

THE PAWNBROKERS CHARITABLE INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
Ralslng funds
2024
2023
Investment management
16,597
16,452
Charltable actlvltl•8
2024
2023
Grant funding of activities (see note 8)
119,973
119,564
Share of support costs (see note 6)
Share of governance costs (see note 8)
22,394
26,867
21,713
23,860
169,234
165,137
Analys18 by fund
Unrestricted funds
169,234
165,137
169,234
165,137
Support costs allocatsd to actlvlties
2024
2023
Staff costs
Office and rental costs
Governan￿ costs
20,893
1,501
26,867
19,859
1.854
23,860
49,261
45,573
Analysed between:
Charitable activities
49,261
45,573
2024
2023
Governance costs comprise:
Staff costs
Audit fees
Trustees and managemient expenses
Hire of meeting rooms
Office and rental costs
3,687
4,590
16,944
1,479
167
3,505
4,820
14,323
1,206
206
26,867
23,860
15-

THE PAWNBROKERS CHARITABLE INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
Net movement In funds
2024
2023
The net movement in funds is stated after chargingl(crediting)-.
Fees payable for the audit of the charity's financial statements
4,590
4,620
Grants payable
2024
2023
Grants to individuals
119,973
119,564
Employees
The average monthly number of employees during the year was:
2024
Number
2023
Number
Employment costs
2024
2023
Wages and galaries
24,580
23,364
The Charity employs the administrator on a part-time basis. The average number of part-time employees
during the year was 1 12023 '. 11, with all employee time involved in providing either support ServI￿S to
charitable activities or support to tha governance of the Charity.
There were no employees whose annual remuneration was more than £60,000.
16-

THE PAWNBROKERS CHARITABLE INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
10 Audltor's remuneration
The auditor's remuneration constituted an audit fee of £4,590 (2023.. £4,820).
11 Gains and Ios8os on investments
Unrestrlcted Unrestrlcted
funds
funds
2024
2023
Gainsl(losses) arising on..
Revaluats'on of investments
Sale of investments
265,480
62,179
(214,796)
25,223
327,659
(189,573)
12 Taxatlon
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
17-

THE PAWNBROKERS CHARITABLE INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
13 Flxed asset investments
Llsted
investments
Cost or valuatlon
At 1 November 2023
Additions
Valuation changes
Disposals
3,147,617
498,677
265.480
(480.468)
At 31 October 2024
3,431,306
Carrylng amount
At 31 October 2024
3,431,306
At 31 October 2023
3,147,617
2024
2023
Investments at fair value comprise..
Equities
Interest - securities
UK property
3,143.154
205,077
83,075
2.819,452
206,199
121,966
3,431,306
3,147,617
All investment assets were held in the UK. The trustees consider that there were no materlal individual
investment holdings in the year that require disclosure.
14 Debtors
2024
2023
Amounts falllng due wlthln one year:
Accrued income
2,630
1,208
15 Creditors: amounts falling due withln one year
2024
2023
Accrued expenses
7,667
7,126
18-

THE PAWNBROKERS CHARITABLE INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
16 Unrestricted fund8
The unrestrided 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 be8n set aside out of Un￿strICted funds by the trustees for specific purposes.
Galns and At 31 October
losses
2024
At1
November
2023
Incomlng
resources
Resources
expended
General funds
3,231,695
124,153
(185,8311
327,859
3,497,676
Prevlous year:
At1
November
2022
Incoming
resources
Resources
expanded
Galns and At 31 October
losses
2023
General funds
3,477,761
125,096
(181,589)
(189,573)
3,231,695
17 Analysis of net assets between funds
Unrestricted
funds
2024
At 31 October 2024:
Investments
Current assetsllliabilities)
3.431,306
66,370
3,497,676
Unrestricted
funds
2023
At 31 October 2023:
Investments
Current assetsllliabilities}
3,147,617
84,078
3,231,695
19-

THE PAWNBROKERS CHARITABLE INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
18 Charltable commltments
The trustees approve applications for grants to individuals at monthly meetings. These commitments are not
legally binding on the Charity and are only approved where funds are already in place to meet the cost.
The value of charitable commitments authorised by the trustees but not contracted for are only charged within
the financial statements in the year in which they are paid.
At 31 October 2024, the value of outstanding commitments was £35,392 (2023.. £37,756> all of which are
expected to be paid within one year.
19 Related party transactlons
Trustees and committee members recèived no emoluments (2023.. £nil).
Trustees and committee members are reimbursed annually by allowances to cover travel and attendan
costs of monthly meetings which they have atlended over the year. The rate of allowance is based on the
distance travelled.
Expenses in the year totalled £11,200 {2023.' £9,522) for five trustees.
Expenses in the year totalled £3,82812023.' £3,276} for one committee member and the administrator12023'.
one committee member and the administrator).
The Charity provided the trustees, committee members and adminislrator with a Christmas luncheon, the cost
of which was £1,071 12023.. £1,525).
During the year the Charity administrator was paid the sum of £600 {2023'. £600) for the rental ofoffices. This
is included within support costs.
20 Analy8ls of charitable funds
2024
2023
Balance at 31 October
3,231,695
3,477,761
Total income
Total expenditure
Net gainsl(losses) on investments
124,153
(185,831)
327,659
125,096
(181.589)
(189,573)
Funds carried forward
3,497,676
3,231,695
-20-