Company registration number 15676302 (England and Wales)
Charity registration number 1214960 (England and Wales)
THE PAUL HOBDEN TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025
THE PAUL HOBDEN TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr C Hobden
(Appointed 24 April 2024)
Mr J Hobden
(Appointed 24 April 2024)
Ms L Simmonds
(Appointed 24 April 2024)
Country of incorporation
United Kingdom
15676302
(England and Wales)
Charity registration
England and Wales
1214960
Registered office
1 The Sanctuary
London
SW1P 3JT
Independent examiner
Mitchell Charlesworth (Audit) Limited
3rd Floor
44 Peter Street
Manchester
M2 5GP
Bankers
National Westminster Bank PLC
Chatham, Waterside Court
Chatham Maritime
Chatham
Kent
ME4 4RT
THE PAUL HOBDEN TRUST
CONTENTS
Page
Trustees' report
1 - 3
Independent examiner's report
4
Statement of financial activities
5
Balance sheet
6
Statement of cash flows
7
Notes to the financial statements
8 - 12
THE PAUL HOBDEN TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE PERIOD ENDED 30 APRIL 2025
- 1 -

The trustees present their annual report and financial statements for the period ended 30 April 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".

Objectives and activities

Policies and objectives

The Paul Hobden Trust was incorporated on 24 April 2024.

The charity works to support the built environment professions of architecture, planning and property, in furtherance of its charitable objects. Through scholarships, bursaries, internships and related initiatives, the Trust supports individuals in pursuing education and early career opportunities, helping to reduce barriers and encourage broader participation in these fields. The charity also supports research relating to architecture, planning and property, with findings published for the public benefit.

The Trustees review the charity’s objects on an ongoing basis to ensure that all activities undertaken, and those planned for the future, remain consistent with these purposes and with the requirements of charity law in England and Wales.

Strategies for achieving objectives

During the inaugural accounting period ended 30 April 2025, the Trustees’ primary focus was on establishing the administrative, legal, and financial foundations necessary to support the charity’s long-term charitable activities and future grant-making.

Key strategies pursued during this period included:

- Governance and compliance: working with professional legal advisers to ensure the robust incorporation of the charitable company, the adoption of appropriate governing documents, and preparation for registration with the Charity Commission.

- Financial stewardship: securing the initial legacy donation, which constitutes the Trust’s initial capital, and establishing appropriate banking and financial controls to safeguard charitable funds and support future charitable expenditure.

- Identity and strategic positioning: commissioning professional branding and visual identity work to ensure the Trust is clearly positioned, credible, and accessible to future stakeholders, beneficiaries, and partner organisations.

Public benefit

Trustees’ consideration of public benefit

The Trustees have had due regard to the Charity Commission’s guidance on public benefit when determining the charity’s activities and strategic priorities.

Although the Trust was in a preparatory and setup phase during this reporting period, the Trustees are satisfied that the governance, financial controls, and strategic framework established during the year are specifically designed to enable the effective delivery of public benefit in future periods through grant-making and other charitable activities carried out in furtherance of the charity’s objects.

THE PAUL HOBDEN TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 2 -
Achievements and performance

Significant activities and achievements against objectives

The period ended 30 April 2025 represented a foundational and preparatory phase for The Paul Hobden Trust. During this inaugural period, the Trustees focused on establishing the charity’s governance, legal, financial, and strategic framework to enable the effective delivery of its charitable objectives in future years.

Key achievements during the period included the successful incorporation of the charitable company, the receipt and safeguarding of the Trust’s initial legacy funding, the establishment of appropriate banking and financial controls, and progress towards registration with the Charity Commission. The Trustees also undertook strategic planning work to define the Trust’s future grant-making priorities and commissioned professional branding to support future engagement with beneficiaries and stakeholders.

No charitable grants were made during the period, as the Trustees considered it appropriate to complete this foundational work before commencing charitable distributions. The Trustees are satisfied that the actions taken during the year place the charity in a strong position to begin delivering public benefit through grant-making and related activities in subsequent periods.

Financial review

Financial performance for the period

During the period, incoming resources amounted to £586,000 and resources expended were £18,530.

No charitable grants were made during this period, as the Trustees considered it appropriate to complete the charity’s foundational setup before commencing charitable distributions.

Funds held and financial position

The closing fund balance is £567,470 which is all unrestricted in nature.

Reserves policy

Policy on reserves

The Trustees have reviewed the charity’s need for reserves in accordance with guidance issued by the Charity Commission. The charity is currently funded by a single legacy receipt, which constitutes the expendable capital for the Trust’s activities.

The Trustees’ policy is to maintain the charity’s unrestricted funds at a level sufficient to enable the Trust to:

- meet its ongoing governance and administrative obligations; and

- establish and support a sustainable grant-making programme in furtherance of its charitable objects.

Level of reserves held

The closing fund balance at the period end was £567,470, all of which is unrestricted.

Given the charity was in its pre-operational period, the Trustees consider this level of reserves to be appropriate and necessary. These funds will be utilised to develop the Trust's initial grant-giving strategy and cover the startup costs associated with the charity’s registration. The Trustees intend to review this policy annually to ensure the reserve levels align with the Trust’s evolving grant-making commitments.

Risk Management

The Trustees have considered the principal risks to which the charity is exposed, particularly those relating to the safeguarding of charitable funds, governance, and regulatory compliance. The Trustees are satisfied that appropriate systems, controls, and procedures are in place to mitigate these risks, including the use of professional advisers where necessary.

The Trustees will continue to review risks on an ongoing basis as the charity’s activities develop.

THE PAUL HOBDEN TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 3 -
Structure, governance and management

The Paul Hobden Trust is a charitable company limited by guarantee and as such has no share capital. It was incorporated on 24 April 2024 and registered as a charity with the Charity Commission on 16 September 2025. The company is governed by its charitable objects and articles of association.

The trustees, who are also the directors for the purpose of company law, and who served during the period and up to the date of signature of the financial statements were:

Mr C Hobden
(Appointed 24 April 2024)
Mr J Hobden
(Appointed 24 April 2024)
Ms L Simmonds
(Appointed 24 April 2024)
Recruitment and appointment of trustees

Trustees are appointed by the Board in accordance with the charity’s Articles of Association. The Trustees keep the composition of the Board under review and will consider further appointments as the charity’s activities develop. New trustees would receive an induction appropriate to the size and activities of the charity.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Organisational structure

The Paul Hobden Trust is governed by its Board of Trustees, who are collectively responsible for the strategic direction, governance, and oversight of the charity.

During the period, the charity had no employees. All activities were carried out directly by the Trustees, supported where appropriate by professional advisers. The Trustees are responsible for setting policy, safeguarding charitable assets, and ensuring that the charity operates in furtherance of its charitable objects and in compliance with applicable legal and regulatory requirements.

As the charity’s activities expand, the Trustees will keep the organisational structure under review and may consider engaging staff, consultants, or volunteers to support the delivery of its charitable programmes.

The trustees' r eport was approved by the Board of Trustees.

Mr C Hobden
Trustee
16 January 2026
THE PAUL HOBDEN TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE PAUL HOBDEN TRUST
- 4 -

I report to the trustees on my examination of the financial statements of The Paul Hobden Trust (the charity) for the period ended 30 April 2025.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants of Scotland, which is one of the listed bodies.

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:

1

accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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 financial statements to be reached.

Jamielee Johnston CA
Independent Examiner
Mitchell Charlesworth (Audit) Limited
3rd Floor
44 Peter Street
Manchester
M2 5GP
16 January 2026
THE PAUL HOBDEN TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE PERIOD ENDED 30 APRIL 2025
- 5 -
Unrestricted
funds
2025
Notes
£
Income from:
Donations and legacies
2
586,000
Total income
586,000
Expenditure on:
Charitable activities
3
18,530
Total expenditure
18,530
Net income and movement in funds
567,470
Reconciliation of funds:
Fund balances at 24 April 2024
-
Fund balances at 30 April 2025
567,470

The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.

THE PAUL HOBDEN TRUST
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 6 -
2025
Notes
£
£
Current assets
Cash at bank and in hand
586,000
Creditors: amounts falling due within one year
9
(18,530)
Net current assets
567,470
The funds of the charity
Unrestricted funds
10
567,470
567,470

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the period ended 30 April 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 16 January 2026
Mr C Hobden
Trustee
THE PAUL HOBDEN TRUST
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 30 APRIL 2025
- 7 -
2025
Notes
£
£
Cash flows from operating activities
Cash generated from operations
13
586,000
Net cash generated from investing activities
-
Net cash generated from financing activities
-
Net increase in cash and cash equivalents
586,000
Cash and cash equivalents at beginning of period
-
Cash and cash equivalents at end of period
586,000
THE PAUL HOBDEN TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025
- 8 -
1
Accounting policies
Charity information

The Paul Hobden Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 1 The Sanctuary, London, SW1P 3JT.

1.1
Reporting period

The charity was incorporated on 24 April 2024 therefore, these financial statements represent the period from 24 April 2024 to 30 April 2025.

1.2
Basis of preparation

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.3
Going concern

At 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 continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

1.5
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Legacies are recognised on receipt or otherwise 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.
1.6
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 is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

The charity is not VAT registered and thus expenditure includes irrecoverable input VAT.

THE PAUL HOBDEN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 9 -
1.7
Cash and cash equivalents

Cash and cash equivalents include cash in hand.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2
Income from donations and legacies
Unrestricted
Total
funds
2025
2025
£
£
Legacies
586,000
586,000
THE PAUL HOBDEN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 10 -
3
Expenditure on charitable activities
Education and grant-making
2025
£
Direct costs
Share of support and governance costs (see note 4)
Support
7,200
Governance
11,330
18,530
Analysis by fund
Unrestricted funds
18,530
4
Support costs allocated to activities
2025
£
Advertising
7,200
Governance costs
11,330
18,530
Analysed between:
Education and grant-making
18,530
5
Net movement in funds
2025
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
2,280
6
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the period.
THE PAUL HOBDEN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 11 -
7
Employees

The average monthly number of employees during the period was:

2025
Number
Total
0
There were no employees whose annual remuneration was more than £60,000.
8
Taxation

The charity is exempt from tax ation on its activities because all its income is applied for charitable purposes.

9
Creditors: amounts falling due within one year
2025
£
Other creditors
3,163
Accruals and deferred income
15,367
18,530
10
Unrestricted funds

The unrestricted funds of the charity compri se the unexpended balances of donations and legacies which are not subject to specific conditions by donors and grantors as to how they may be use d.

At 24 April 2024
Incoming resources
Resources expended
At 30 April 2025
£
£
£
£
General funds
-
586,000
(18,530)
567,470
11
Events after the reporting date

The Paul Hobden Trust was granted charitable status on 16 September 2025. As a result, these financial statements have been prepared in accordance with the Charities Statement of Recommended Practice.

12
Related party transactions

During the period to 30 April 2025 expenses have been paid on behalf of The Paul Hobden Trust by one of the trustees Mr C Hobden at £3,163. An amount of £3,163 is due to Mr C Hobden at 30 April 2025 and is included within creditors.

THE PAUL HOBDEN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 12 -
13
Cash generated from operations
2025
£
Surplus for the period
567,470
Movements in working capital:
Increase in creditors
18,530
Cash generated from operations
586,000
14
Analysis of changes in net funds/(debt)

The charity had no material debt during the year.

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