HAROLD & NICOLA PASHA CHARITABLE TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2025 Charity Number: 275426
HAROLD & COLA PASHA CHARITABLE TRUST TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 5TH APRIL 2025 Page Reference and Administrative Information Trustees, Annual Report Independent Examiner's Report statement of Financial Activities Balance Sheet Notes lo the Financial Statements 7-13
Page 1 HAROLD & NICOLA PASHA CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS Charity name and number Harold & Nicola Pasha Charitable Trust Charity Number 275426 Address of charity 41h Floor, 28 Margaret Street, London, W1W8RZ Trustees J. L. P. Charity Trustees Limited 4th Floor, 28 Margaret street, London, W1W8RZ Bankers C. Hoare & Co 37 Fleet Street. London. EC4P 4DQ Independent examin8r Mr. J. Courts HW Fisher Professional SeNices Limited, Acre House, 11-15 Vlfilliam Road. London, NW1 3ER Investment manager Cazenove Capital. 12 Moorgale, London, EC2R 6DA
Page 2 HAROLD & NICOLA PASHA CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL 2025 The trustees present their annual report together with the financial statements of the charity for the year ended 51h April 2025. The financial statements have been prepared in accordance with the accounting policies sel out in nDle 1 to the financial statements and comply with the chartly's trust deed, the Charitie5 Act 2011 and the Accounting Reporting by Charitses.. Slalement of Recommenced Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to UK and Republic of Ireland IFRS 102). Structure, Governance and Management The Tiusl is an unincorporated body, consliluled under trust deed dated 23rt1 December 1977 and is a registered charity, number 275426. The Trust was established by initial gift from Mrs. L Pasha. The trust does not actively fundraise and maintains a careful stewardship of its existing resources. J.L.P. Charity Trustees Limited acted as a Trustee throughout the year. The existing trustees have held office for over 10 years. The power of appointing new or additional trustees is exercisable by the trustees. The directors of J.L.P Charity Trustees Limited are Mr. H.C Pasha, Mrs. N. J. Pasha. Mr. M. E. Pasha and Miss J. R. Pasha. The charity has no lull lime or part time employees or volunteers to assist in the running of the charity., the daily administration being carried out by Mr. H, C. Pasha. Key management personnel remuneration The Trustees consider Mr. H. C. Pasha as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day-lo-day basis. Mr. H. C. Pasha gives of his lime freely and no remuneration or expenses were paid lo him during the year. Risk Management The trustees have reviewed the major and financial risks Ihal impact on the work of the trust. The systems that have been established enable the trustees lo review and lake necessary steps to lessen these risks. In particular, the trustees have delegated the management of their investment portfolio to a reputable firm of investment managers. Objectives and Activities The object of the trust is to apply the capital and income of the trust fund for such charitable purposes as the trustees in their absolute discretion think fil. The policies adopted by the Iruslees in achieving these aims are to make grants to suitable organisalions themselves charitable in nature. Public Benefit The Iruslees have given due consideration lo the Chaiily Commission's published guidance on the public benefit requirements. The Trust conslitules 8 public benefit entity as defined by FRS 102. Grant Maklng Policy The trust continues lo accept appeals whether made formally or informally by UK registered charities. All applications are considered on an individual basis. The Iruslees have a policy, which is communicated lo all beneficiaries Ihal they make grants with no guarantees for future funding. Achievement and Performan¢e The Trustees continued to give grants lo support various charities registered in the United Kingdom. During the year 11 grants totalling £42,500 were approved compared wilh 32 grants lolalling £237,220 in the previous year. The trustees consider that these represent an appropriate exercise of their discretionary powers. Details of all the grants made are given in note 9.
Page 3 HAROLD & NICOLA PASHA CHARITABLE TRUST TRUSTEES, AN UAL REPORT Continued Flnancial Review The Trust is reliant on the income from ils investments and from rents received from the freehold propety. In addition lo the regular ground rents, the Trust reiVeS premiums from tenants wishing lo extend their leases. The total income of the Trust amounted to £67,117 compared to £66,017 for the previous year. After expenditure of £80,87412024'. £269,283> the Irusl's resources prior lo movement on investments decreased by £13,75712024'. £203.2661. The trust made a net loss of £106,656 {2024.' gain of £253,808} on ils inveslmenls. Investment Policy and Performan¢e There are no ieslriclions on the trust's power lo invest and the trustees have not adopted an ethical investment policy. Investment performance during the year was considered satisfactory. The investment managers have been instructed to manage the portfolio on the basis of greatest income consislenl with security and protection. Investment performance during the year was considered satisfactory. Reserve¥ Policy The reserve policy is reviewed annually. The trustees, aim is lo maintain free reserves in unreslricled funds at a level that will provide sufficient funds to respond to applications for grants and ensure that there are sufficient funds available lo cover support and governance costs. The level of free reserves al the year-end was £2,852,27112024'. £2,972,684). Going Concern The trustees have a reasonable expectation that the trust has adequate resources lo continue operation existence for the foreseeable future. For this reason, they continue lo adopt the going Concern basis in preparing the financial slalements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. Plans for the Future The IrL¢slees intend lo continue providing grants in a similar way to the recent past continuing th8 emphasis on charitable causes but retaining flexibility as to Ihe timing, and scale of grant making. The trustees have no immediate plans to modify or radically change any of the objects. activities or FX)licies. Approved by.. ra For and on behalf of J. L. P. Charity Trustees Limited 05 Feb 2026 Date
Pag8 4 HAR LD NICOLA PASHA CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HAROLD & NICOLA PASHA CHARITABLE TRUST I report lo the Iruslees on my examination of the financial statements of Harold & Nicola Pasha Charitable Trust (the charity) fof Ihe year ended 5th April 2025. Re8pon8ibilities 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 2Q11 I'lhe 2011 Act,). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examinaliors I have followed all the applicable Directions given by the Charity Commission under section 14515)Ibl of the 2011 Act. Indppendent gxaminer's statement I have completed my examination. l ¢onfirm Ihat no rnalerial mallers have come to my allenlion in ¢onnection with the examination giving me Cause lo 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 2. the financial statements do not accord with those records., or 3. the financial statements do not comply with the applicable requirements concerning the fomi and content of accounts set out in the Charities {Accounls and Report51 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 ¢oncerns and have come across no other mallers in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Joel Courts HW Fisher Professional Services Limited, Chartered A¢¢ountanls, Acre House, 11-15 Wlliam Road, London, NW1 3ER 05 Feb 2026 Date -
Pag6 5 HAROLD & NICOLA PASHA CHARITABLE TRUST STATEMENT OF FIN CIAL ACTIVIT FOR THE YEAR ENDED 5TH APRIL 2025 2025 2024 Note Income from: Investments 67,117 66,017 Total income 67,117 66,017 Expenditure on: Raising funds Charitable activities 134,4951 46,379 128.3141 240,969 Total expendlture 180,8741 1269,2831 Net {1088llgains on investment assets 10 106,656 253,808 Ngt movgment in funds 1120,4131 50,542 Reconciliation of fund$ Total funds brought foard 2,972,684 2.922,142 Total fund$ ¢arried forward 15 2,852,271 2,972,684
Page 8 HAROLD & NICOLA PASHA CHARITABLE TRUST BALANCE SHEET FOR THE YEAR ENDED 5TH APRIL 2025 2025 2024 Nots Fixed assets Investment property Investments al valuation 49,725 2,694 975 49,725 2,921,595 12 Total fixed assgts 2,744,700 2,971,320 Current asset8 Debtors Cash with investment managers C8sh al bank 13 11,928 114,678 64,602 12,403 63,325 37,971 Total current assets 191,208 113,699 Current liabilities Creditors falling due within one year 14 83,637 112,335 Net Gurrgnt assets 107.571 1,364 Totsl net assets 2,852,271 2,972,684 The funds of the charity Unrestricted funds 15 2.852.271 2,972,684 05 Fob 2026 The financial 9tatements were approved by the Board of Trustees on signed on ils behalf by.. .and were H. C. Pasha On behalf of J. L. P. Chaflty Trustees Limited
Pag8 7 HAROLD & NICOLA PASHA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2025 ACCOUNTING POLICIES The principal accounting policies adopted, judgements and key sources of eslimalion uncertainty in the preparation of the financial statements are as follows.. al Basis of preparation These financial statements have been prepared in accordance wilh the charity's trtjst deed, the Charities Act 2011 and "Accounting and Reporting by Charities. the Statement of Recommended Practice applicable lo chariligs preparing their accounts in ac¢ordanGe with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102}" {effeGlive 1 January 20191. The charity is a Public Benefit Enlily as defined by FRS 102. The financial slalements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial slalemenls are rounded lo th8 nearest £. Th8 financial slalements have been piepared under the historical cost convention with il@ms recognised at cost or transaction value unless otherwise staled in the relevant notes to these accounts. b) Golng concern The Iruslees are confident that the charity can ¢onlinue to meet its liabilities as they fall due for the foreseeable future. As such, the trustees consider that there are no material uncertainties about the charity's ability lo continue as a going concern. c) Critical accounting judgemgnts and estimation uncertainty The Iruslees are satisfied that there are no material estimates or judgements in the financial slalements. d} Fund's structure Both the capital and income of the charity can be applied al the discretion of the trustees in the furtherance of the objects of the Irusl. There are no reslricled funds. el Incoming resources Donations are considered receivable when the amount can be reliably measured and recelpt is reasonably certain. Dividends arising on equity investments are accounted for in the year they are due and receivable. Other incoming resources are recognised once the charity has entitlement lo Ihe resources, il is certain that the resources will be received and the monetary value of incoming resources can be measured with rtainlY.
Page 8 HAROLD & NICOLA PA HA CHARITABLE T UST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2025 ACCOUNTING POLICIES Icontinuedl fj Resources expended Liabilities are recognised as resources expendgd as soon as ther8 is a legal or constructive obligation committing the charity lo the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related lo the category. Grants payablo are payments made to third parties in the furtherance of Ihe charitable obleclives of the trust. The grants ale accounted for where either the Iruslees have agreed lo pay the grant without condilion and the recipient has a reasonable expectation that they will receive a grant, or any condition attaching lo the grant is outside the Gontrol of Ihe Irusl. The Cost of generating funds tonsisls of investment management costs including maintenance of fixed assets. Costs of charitable activities include grants made. Governance costs comprise all costs involving the public accountability of the charity and ils compliance with regulation and good pra¢li¢e. These include costs related lo th8 indgpend8nl examination. g) Cash at bank and In hand Cash and cash equivalents include cash held in the Charity's bank accounts and shorl-term deposil accounts with maturity dales of up to 12 months. h} Investment property Investment properties are initially measLJrèd al their cost and subsequently measured al their fair value at each reporting date. The unrealised gainsllosses at the end of the financial period which is reflected in the SOFA. Investments Investments are initially mèasured al their cost and subsequently measured al their fair value al each reporting dale, which gives rise lo unrealised gainsllosses at the end of the financial period which is reflected in the SOFA. Realised gainsllosses are calculated as the difference betMeen the sales proceeds and the opening carrying value or the purchase price if acquired during the financial period. Partial disposals 8re accounted for using the average value. Fair value is based on the quoted price al the balance sheet dale without deduction of estimated future selling costs. jl Financial instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Sectn 12 '0ther Financial Instruments Issues. of FRS 102 to all of ils financial instruments. The charity only has financial assets and liabilities of a kind that qualify 89 basic financial inslrumenls. Basic financial instruments are initially recognised al transaction value and subsequently measured at their settlement value with the exception of fixed asset investments that are ini11811y recognised at transaction value and subsequently recognised at their fair value. k) Fund accountlng All thè funds are unreslricled funds. Unrestricted funds represent the general reserves of the Charity that can be utilised freely for the purposes of furthering the objects of the Charity- Unrestricted income comprises of investment income earned from the charity's investments and any other income in which no restrictions on ils use applies.
Page 9 HAROLD & NICOLA PASHA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2025 EMPLOYEES, RELATED PARTY TRANSACTIONS AND TRUSTEES. REMUNERATION There were no employees in the year12024= none). Nong of the Trustees were paid remuneration or expenses by the Trust during the year (2024.. £nill. There were no related party transactions during the year12024.' none). TAXATION The Trust is a registered charity and accordingly is exempl from taxation on ils income and gains where they are applied for charitable purposes. INVESTMENT INCOME 2025 2024 Dividends and interest Rent and licence fees 56,942 10,175 57,157 8,860 67.117 66,017 RAISING FUNDS 2025 2024 Legal and professional fees Freehold service Charges 25,177 9,318 22,192 6,122 34,495 28,314 CHARITABLE ACTIVITIES The charity awarded granls to a number of institutions in furtherance of ils charitable activities. 2025 2024 Grants made (Note 9} Support costs INote 71 Governance costs {Note 81 42.500 1,346 2,533 237,220 1,339 2,410 46.379 240,969
Page 10 HAROLD & NICOLA PASHA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 5TH APRIL 2025 SUPPORT COSTS 2025 2024 Accountancy fees-charg8 Bank charges 1,275 71 1.225 114 1,346 1,339 GOVERNANCE COSTS 2025 2024 Independent examiner's fees 2,533 2,410
Pag811 HAROLD & NICOLA PASHA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2025 9. GRANTS MADE 2025 2024 Poverty & rellef Nightingale Hammerson Nonmood Ravenswood Wizo.UK The Central British Fund For World Jewish Relief 500 1.000 70 1,000 1,500 5,000 7,570 1,5DO Educatlon The London School of Jewish Studies JFS Charitable Trusl Limited JW3 Development Naima JPS The Work Avenue Foundation 5,000 5.000 10,000 1,000 10.000 26.000 10,000 15,000 Health Alexander Devine Children's Cancer Trust Cure EB The Felix Project Halzola Trust Limited Heart Cells Foundalion Jewish Child's Day Sl. James's Place Charitable Foundation Maggie Keswick Jencks Cancer Caring Cenlres Trust North London Hospice Rays of Sunshine Wellbeing of Women 100 2,500 250 500 5,000 5,000 7.600 600 500 37,500 500 5.000 1,000 55,050 11,000 Security Community Security Trust 120.000 Religiou8 Campaign Againsl Antisemitism CFI Charitable Trust Western Marble Arch Synagogue 5,000 350 23,250 28,600 15,000 15.000 Totsl grants payable 42,500 237,220
Page 12 HAROLD NICOLA PASHA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 5TH APRIL 2025 10. Net gainslllossesl on investments 2025 2024 Revaluation of investments GainllLossl on sale of investments {128,9671 22,311 254,903 1,095 (106,6561 253.808 11. INVESTMENT PROPERTY 2025 2024 Market value at 6th April 2024 and 5th April 2025 49,725 49,725 The investment property is carried al ils fair value based on the tsustee's valuation. 12. FIXED ASSET INVESTMENTS 2025 2024 Market value at 6th April 2024 Additions lo investments at cost Disposals at market value Gainllloss} on disposal of investments Unrealised Ilossllgain on revaluation of investments 2,921,595 582,579 1702,5431 22,311 2,170,911 1,562,806 11,065,930) 11,0951 128,967 254,903 Market valL¢e at 5VI April 2025 2,694,975 2,921,595 Fixed asset investments by type.. Equities Bonds FLEnds 2,065,627 395,411 233,937 2.330,352 465,805 125,438 2.894,975 2,921.595 All investmenls are cairied at their fair value.
Page 13 HAROLD & NICOLA PASHA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2025 13. DEBTORS 2025 2024 Amounts falling due within one year: Other debtors and prepayments Accrued income 8,268 3,660 8,500 3,903 11,928 12.403 14. ANALYSIS OF CURRENT LIABILITIES 2025 2024 Craditors falllng due wlthln one year Service charges Deferred income Other creditors Accruals 12,468 3,575 60,000 7,594 9,451 5,562 90,000 7,322 83,637 112,335 15. UNRESTRICTED FUNDS At 6th April 2024 Loss on investments At5th April 2025 Incomg Expenditurè Unrestricted funds 2,972,684 67,117 180,8741 1106,6561 2,852,271