REGISTERED CHARITY NUMBER: 1044028 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL sTATEmEs FOR THE YEAR ENDED 31 DECEMBER 2023 FOR KHALILI FOUNDATION Orcom Civvals Limited Accountants 50 Seymour Street LA)ndon WIH IJG
KHALILI FOUNDATION CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 6 to 8 Detailed Statement ofFinancial Activities
I£HALILI FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their report with the financial statempnt8 of the charity for the year ended 31 December 2023. The trustees have adopted the Charities SORP IFRS 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 l January 2019)" OBJECTIVES AND ACTIVITIES Objectives and ainL8 The object of the charity is to advance pea, unity and mutual respect worldwide. This is achieved through our partners include international organisations such a8 UNESCO and the Commonwealth as well as leading research and education establi8hment8 such as the Univer8lty of Oxford and the School of Oriental and Afriean Studie8. Donation making policy The trustees have reviewed the policy with regard to donatÉons n]ade through their partners like UNESCO. The trustees will, in future. consider repeat annual donation8 to the Same applicant. ACHIEVEMENf AND PERFORMANCE Charitable activities The main initiatives of the Foundation are: Cultural Philanthropy Global Partnership$ Maimonides Interfaith Initiative Gifts and Grants Global Humanitarian Positions Aside from these CO initiatives, donations have been made regularly and anonymously to a number of charitable cause8 worldwide. Through its expertise and network, the Foundation has al80 developed and facilitated a number of successful charitable initiatives led by other notable organisations such as Oxford University, SOAS and Turquoise Mountain Foundation. FINANCIAL REVIEW Review of activities and results Financial results for the year are set out in the Statement of Financial Activitie8 on page 5 and the position at the end of the year is shown in the balance sheet on page 6. During the year, there was surplus of £7,368 (2022: £Nil). The 8urplus is higher than the previou8 year because of a increase in donations CeIved. The charitable expenditure for the year amounted to £3 19,461 (2022- £ Nil). The year end cash balance was £9, 182 (2022.. £ 14) At 31 December 2023. the trust had unrestrieted reserve8 of £9,602 (2022.. £2,234}. The Trustees aim to maintain sufficient free resee8 to enable the charity to continue its work at the current level and, if possible. to increase it. FUTURE PLANS Announcing the Digital Release of Sir David Khalili's Autobiography on Kindle on 10th April 2024. Page I
KHALILI FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing docUnt The charity is controlled by its governing document, a deed of tru8t and constitutes an unincorporated charity. The Khalili Foundation is constituted under a trust deed dated 15 December 2016 and 18 a registered charity. It's charity number is 1044028. Recruitment and appointment of new trustees The board have the power to recruit new trustees. The new trustees can only be appointed rf they have agreed to become a member of the charity and their names have been entered in the register. Organisational structure The tru8tee8 who have served during the year are mentioned below. Trustees are appointed by the board of trustees and serve for five years after which period they may put them8elve8 forward for re-appointment. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1044028 Principal address 88 Crawfoi'd Sti'eet ndon WIH 2EJ Trustees Professor Sir N D Khalili B Khalili R Khalili Lady M S Ithalili D J Khalili Independent Examiner Mark Tullet FCA Orcom Civva18 Limited Aecountants 50 Seymour Street IK>ndon WIH 7JG Approved by order of the board of trustee8 on 18 December 2024 and signed on its behalf by: Professor Sir N D Khalili - Trustee Page 2
INDEPENDENT ELIMINER'S REPORT TO THE TRUSTEES OF KHALILI FOUNDATION Independent examiner's report to the trustees of Kbalili Foundation I report to the charity trustees on my examination of the accounts of Khalili Foundation (the Trust) for the year ended 31 December 2023. Responsibilities and basis of report As the Charity trustees of the Tru8t you are responsible for the preparation of the accounts in accordance with the requirements of the Charitie8 Act 2011 Cthe Act,). I report in respect of my examination of the Trust'8 accounLs carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commi88ion under Section 145(5)0)) of the Act. Independent examiner's Statenllt Since your eharity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the exanjination because I am a member of the Institute of Chartered Accountants in England and Wale8, which 1$ one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination VIng me cause to believe that in any material respect: accounting record8 were not kept in respect of the Trust a8 required by Section 130 of the Act,. or the accounts do not accord with th08e records; or the accounts do not comply with the applicable requirements concerning the foim 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 18 not a matter considered as part of an independent examination. I have no concerns and have come acros8 no other matters in eonneetion 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. Mark Tullet FCA The Institute of Chartered Accountants in England and Wales Orcom Civvals Limited Accountants 50 Seymour Street tKJndon WIH 7JG 18 Dember 2024 Page 3
KEL4LILI FOUNDATION STATEMENT OF FINANCL4L ACTIIryTTES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Unrestricted fund 2022 Total funds Notes INCOME AND ENDOWMENTS FROM Donation8 and legacies 825.530 Investment income 1,299 Total 826,829 PENDITURE ON Charitable aetivities Resources expended 319,461 NET INCOME 7,368 RECONCILIATION OF FUNDS Total funds brought forward 2,234 2,234 TOTAL FUNDS CARRIED FORWARD 9,602 2,234 The notes form part of these financial statements Page 4
KIIALILI FOUNDATION BALANCE SHEET 31 DECEMBER 2023 2023 Unrestricted fund 2022 Total funds Note8 CURRE1 ASSETS Debtors Ca8h at bank 2,220 9,182 2,220 14 11,402 2,234 CREDITORS Amounts falling due within one year (1,800) NET CURRENf ASSETS 9,602 2,234 TOTAL ASSETS LESS CURRENT LIABILITIES 9,602 2,234 NET ASSETS 9,602 2,234 FUNDS UnresLricted funds 9,602 2,234 TOTAL FUNDS 9,602 2,234 The financial Statements were approved by the Board of Trustee8 and authorised for issue on 18 December 2024 and were signed on its behalf by: Sir N D Khalili - Trustee The notes forni part of these financial statements Page 5
KHALILI FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2028 AccouwfING POLICIES Basis of preparing the ftnancial statements The financial statements of the charity, which 18 a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement of Recomrnended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Finaneial Reporting Standard 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities onee the charity has entitlement to the funds, it is probable that the income will be received and the an]ount can be measured reliably. Expenditure LIabltieS are recognised as expenditure as Soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation ean be measured reliably. Expenditure 18 accounted for on an accruals basis and has been classified under heading8 Lhat aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been alliKated to activities on a basi8 consistent with the use of resource8. Taxatlon The charity is exempt from tax on its charitable activities. Fund accounting Unrestrieted funds can be used in aceordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted puryoses within the objects of the charity. Restrictions arise when 8pecified by the donor or when funds are raised for particular re8trieted purposes. Further explanation of the nature and pUose of each fund is included in the notes to the financial statements. INVESTMENf INCOME 2023 2022 Investment income 1,299 Page 6 continued...
KHALILI FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. Trustees, expenses There were no trustees, expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestrieted fund NET INCOME RECONCILIATION OF FUNDS Total fund8 brought forward 2,234 TOTAL FUNDS CARRIED FORWARD 2,234 DEBTORS: AMOUNTS FALLING DUE THIN ONE YEAR 2023 2022 Other debtors 2,220 2,220 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Other creditors 1,800 MOVEMENT IN FUNDS Net movement in funds At 31112123 AL 111123 Unrestrieted funds General fund 2,234 7,368 9,602 TOTAL FUNDS 2,234 7,368 9,602 Page 7 continued...
KHALILI FOUNDATION NOTES TO THE FINANCIAL STATEMETrrrs - Continued FOR THE YEAR ENDED 81 DECEMBER 2023 MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are 2$ follows.. Incoming resource8 Resources expended Movement in fund8 Unrestricted funds General fund 326,829 (319,461) 7,368 TOTAL FUNDS 326,829 (319,461) 7,368 RELATED PARTY DISCLOSURES During the year the Khalili Foundation received donations of £300,530 (2022.. £Nil) from Favermead Ltd 2 company where one of trustees is al80 th'rector of this company. Page 8
KHALILI FOUNDATION DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2028 2023 2022 INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Investment income 325,530 Total incoming resources 1,299 326,829 EXPENDITURE Charitable aetivities Research contributions Donations Fundraising Educational materials 103,600 47,500 26,058 78,998 Support costs Management Advisory fees fee8 Advertising Accountanry Independent examination 256,156 50,493 9,468 1,200 600 Finance Bank charges Exchange difference 61,761 823 (236) 587 Other Postage and stationery Sundries 595 362 957 Total resources expended Net income 819,461 7,368 Thi8 page does not form part of the statutory financial statements Page 9