REGISTERED CHARITY NUMBER: 1044028 REPORT OF THE TRUSTEKS AND UNAUDETED FINANCIAL sTATEmEs FOR THE YEAR ENDED 31 DECEMBER 2024 FOR KHALILI FOUNDATION Orcom Civva18 Limited Accountants 50 Seymour Street IA)ndon WIH7JG
I(HALILI FOUNDATION cOs OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Report of the Trustees Independent Examiner's Report StAtsnnt of Financial Activities Balance Sheet Cash Flow Statennt Notes to the Cash Flow Statenllt Notes to the Financial Statenients 8 to 12 Detailed Statement of Financial Activities 13
KHALILI FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees pre8ent their report with the financial 8tatement8 of the ch8rity for the year ended 31 De(Ember 2024. The tni8tee8 have adopted the Charities SORP (FKS 102) "Accounting and Reporting by Charities: Statement of Recommended Practi appIlble to charitie8 preparing their accounts in acC0Tdan with the Finaneial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019)" OBJECTIVES AND ACTIVITIES Objectives And ainK8 The object of the charity 18 ti) advance peace, unity and mutual Tespect worldwide. Thi8 18 achieved tbrough our partners include international QTganisation8 8uch as UNESCO and the .Con)monwealth a8 well a8 leading research and education estsblishments 8uch a8 the Univer8ity of OA£ord and the Sch1 of Oriental and African Studies. Donation making polACy The tru8tee8 have reviewed the policy with regard ts) donation8 nde through their partner8 like UNESCO. The tru8tee8 will, in future, con8ider repeat annual donations to the same applicant. ACHIEVEME AND PERFORMANCE Charitable activitie8 The main initiative8 of the Foundation are: - Cultural Philanthropy - Global Partnerships - Maimonides Interfaith Initiative . Gifts and Grants - Global Humanitarian Position8 A8ide from these eore initiatives, donations have been made regularty and anonymou8ly to a number of charitable cause8 worldwide. Through its expertise and network. the Foundation ha8 also developed and faeiIitated a number of successful charitable initiatives led by other notable organisation8 such a8 Oxford University, SOAS and Thrquoise Mountain Foundation. Review of aCtItieS ana results Financial results for the year are 8et out in the Statement of Financial Activitie8 on page 5 and the position at the end of the year 18 shown in the balance 8heet on page 6. During the year. there was 8urplus of £45,069 (2023: £7.368). The Surplus is higher than the previou8 year because of a increase in donations received. The charitable expenditure for the year amounted to £623.975 (2023: £319,461). The Ye end cash balance was £56.051 (2023: £9. 182) At 31 Dember 2024. the trust had unrestricted reserve8 of £54,67l (2023: £9,602). The Tru8tees aim to maintain Sufficient free re8erve8 to enable the charity to eontinue its work at the current level and, rf PlJg8ible. to increase it. Announcing the Digital Release of Sir David Khalili'8 Autobiography on Kindle. Page I
KHALILI FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 81 DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMEwr Goverrring document The charity 18 controlled by it8 governing alMent, a deed of trust and constitutes an unincorporated The la1111 Foundation ig constituted under a trust deed dated 15 December 2016 and i8 a registered charity. It's charity number 18 1044028. ReCrUitnnt and appointment of new trnstees The board have the power to recruit..new tTUSteeB. The new tru8tee8 can only be appointed if they have agreed to become a member of the charity and their name8 have been entered in the register. Organisational structure The trn8tse8 who have served during the year are mentioned below. Tru8tee8 are: appointed by the board of tru8tee8 and 8erve for five years after which period they may put them8elve8 forward for re-appointment. REFERENCE AND ADMINISTRATIVE DAILs Registered Charity number 1044028 Principal address 88 Crawford Street IA)ndon WIH 2EJ Trn8tee8 Professor SIT N D Khalili IAdy M S Ill]]1 D J Kha]ili IDdependent Examiner Mark Tullet FCA Orcom Clal8 Limited Accountants 50 Seymour Stseet )ndon WIH 7JG Approved by order of the board of trustees on 31 July 2025 and signed on its behalf by: Professor Sir N D Khalili - Tru8tee Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KHALILI FOUNDATION Independent examinevs report to the trustee8 of Khalili Foundation I report kn the charity trustees on my examination of the aOntS of Khalili Foundation (the Trust) for the year ended 3 1 Dember 2024. Responsibilities and basis of report A8 the eharity trustees of the Trust you are re8pon8ible for the preparation of the acix)unts in accordan with the requirement8 of the Charities Act 2011 Cthe Act). I report in re8pect of my exan]ination of the Tru8t'8 accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Clwity Commi88ion under Section 145(5)(b} of the ACL Independent eXatter,8 Statennt Sinee your clwity's gross income exceeded £250.000 your examiner mu8t be a member of a listed body. I ean confirm that I am qualified to undertake the examination beeause I am a member of the Institute of Chartered Accountants in England and w.ales which 18 one of the li8ted bodie8. I have completsd my examination. I confinn that no nterIal matter8 have come to my attention in connection with the examination giving cau8e to believe that in any material respect: accounting records were not kept in respect of the Trust as required by Section 130 of the Act-, or the account8 do not accord with those record8" or the accounts do not comply with the app]ieable requirements concerning the form and content of account8 set out in the Charitie8 (AlX>unt8 and Reports) Regulation8 2008 other than any requirement that the account8 give a tsue and fair view which 18 not a matter considered as part of an independent exan]ination. I have no concerns and have come acr088 no other matter8 in connection with the examination to w]Jich attention 8hould be drawn in this report in order to enable a proper understanding of the accounts to be reached. t1-A f_/l- H- Mark Tullet FCA The In8titute of c}red Accountants in England and Wale8 Orcom Civva18 Limited Accountant8 SO Seymour Street tL)ndoll WIH 7JG 31 July 2025 Page 3
IUIALILI FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 81 DECEMBER 2024 2024 Unrestricted fund 2023 Total Notes INCOME AND ENDOWME FROM Donation8 and legacie8 664,587 325,530 Inve8t]nent income 4,457 1,299 Total 669,044 326,829 EXPENDITURE ON Raising fund8 250 Charitable activities Resources expended 628,725 319,461 Total 628,975 319,461 NET INCOME 45,069 7,368 RECONCILIATION OF FUNDS Total fund8 brought forward 9,602 2,234 TOTAL FErDs CARRIED FORWARD 54671 9,602 The notes form part of these financial statements Page 4
KHALILI FOUNDATION BALANCE SHEET 31 DEcEI[BER 2024 2024 Uttrestricted fund 2023 Total Nots8 CURRENT ASSETS Debtors Cash at bank 2,220 56,051 2,220 9.182 58,271 11.402 CREDITORS Amounts falling due within olle year io (3,600) (1,800) NET CURRENT ASSETS 54,671 9,602 TOTAL ASSETS LESS CURRE LIABILITIES 54,671 9,602 NET A&SETS 54,671 9,602 FUNDS Unrestricted fund8 li 54,671 9,602 TOTAL FUNDS 54,671 9,602 The financial 8tatements were approved by the Board of Tru8tee8 and authorised for i88ue on 31 July 2025 and were signed on it8 behalf by. Sir N D Khalili . Trustee The note8 form part of these financial 8tatsnnts Page 5
KHALILI FOUNDATION CASH FLOW STATEME FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flow8 from operating activities Cash generated from operations 46,869 9,168 Net ca8h prOded by operating activitie8 46,869 9,168 Change in cash and casb equivalents in the reporting period Cash and cash equivalents at the belln1ng of the reporting perxod 4&869 9.168 9,182 14 Cash and cash equivalent8 at the end of the reportlng period 5&051 9,182 The note8 forni part of these financial statements Page 6
KHALILI FOUNDATION NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DEcE[BER 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 20£8 Net income for the reporting period (a8 per the Statement of Financial ACtItieS) Adjustnlents for. Increase in creditor8 45.069 7,368 1,800 1,800 Net cash prOdea by operations 46,869 9,168 ANALYSIS OF CHANGLS IN NET FUNDS At 111124 Cash flow At 3UI2J24 Net cash Ca8b at bank 9,182 46,869 58,051 9,182 46,869 56,051 Total 9,182 46,869 56,051 The note8 forn) part of these financial statements Page 7
KHALILI FOUNDATION NOTES TO THE FINANCIAL STATEENTs FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basis of preparing the financlal 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 Ikporting by Charities: Statement of Recommended Practi applieable to charities preparing their accounts in aceordanee with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republie of Ireland, and the Charitie8 Act 2011. The financial statements have been prepared under the historical eo8t convention. Income All income 18 reeognised in the Statement of Financial Activities once the charity has entitlement to the fund8, it 18 probable that the income will be re]Ved and the amount can be measuTrd reliably. Expe)lture Liabilities are recogni8ed a8 expenditure a8 800n a8 there 18 a legal or con8truetive obligation conllnitting the charity to that expenditure, it 18 probable that a transfer of eeonomie benefits will be required in 8ettlement and the amount of the ob]igation can be measured reliably. Exi)enditure 18 accounted for on an accruals ba818 and ha8 been classified under headings that aggregate all CO8t related to the category. Where co8t8 cannot be directty attributed to particular heading8 they have been allocated to activities on a ba818 con818tent with the u8e of reSOuLs. Taxation The charity 18 exempt from tax on its charitable activitie8. Fund accounting Unre8tricted funds can be u8ed in accordance with the charitable objective8 at the di8cretion of the tru8tse8. Restricted funds can only be u8ed for particular re8tricted purpo8e8 Wlthin the object8 of the charity. Re8tsiction8 ari8e when 8pecified by the donor or when fiinds are rai8ed for p8rtieular re8trictsd purp08e8. Further explanation of the nature and purpose of each fund is included in the note8 to the financial statements. DONATIONS AND LEGACIES 2024 2023 Donation8 664,587 325,530 Page 8 continued...
KHALILI FOUNDATION NOTE8 TO THE FINANCIAL STATEMENTS - eontxnued FOR THE YEAR ENDED 81 DECEMBER 2024 INVESTMENT INCOME 2024 2023 Inve8tment income 4,457 1,299 RAISING FUNDS Raising donations and legacies 2024 2023 Support C08ts 250 CHARITABIE ACTIVITIES COSTS Support e08ts (8ee note 6) Direct Costs Tota18 Re80uree8 expended 450,296 173,429 623,725 SUPPORT Costs Management Finanee Other Tota18 Raising donations and legacie8 Re80urce8 expended 250 984 250 173,429 171,481 171,481 1,284 964 173,679 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 Den]ber 2024 nor for the year ended 31 Decenther 2023. Trustees, expenses There were no tru8tee8' expen8e8 paid for the year ended 31 Dmber 2024 nor for the year ended 31 December 2023. Page 9 continued...
IUIALILI FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEl*tBER 2024 COMPARATIVES FOR THE STATEME OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWME FROM Donations and legacie8 325,530 Inve8tment income 1.299 Total 326,829 EXPENDITURE ON Cknitable aetlvxties Resource8 expended 319.461 NET INCOME 7,368 RECONCILIATION OF FUNDS Total fund8 brought forward 2,234 TOTAL FUNDS CARRIED FORWARD 9,602 DEBTORS: Amou FALLING DUE TH[N ONE YEAR 2024 2023 Other debtors 2,220 2,220 10. CREDITORS: AMouNfs FALLING DUE WITHIN ONE YEAR 2024 2023 Other creditor8 3,600 1,800 11. MOVEMENf IN FUNDS Net movement in fund8 At 31112124 At 111124 Unrestrleted funds General fund 9,602 45,069 64,671 TOTAL FUNDS 9,602 45,069 54,671 Page 10 continued...
KHALILI FOUNDATION NOTES TO THE FINANCIAL STATETr NTS - eontinued FOR THE YEAR ENDED 31 DECEKBER 2024 11. MOVEMENf IN FUNDS- continued Net movement in fund8, included in the above are a8 follow8: Incoming re80urce8 Re80urce8 Movement expended in bJnd8 Unrestrieted fund8 General fund 669,044 (628,975) 45,069 TOTAL FUNDS 669,044 (628,975) 45,069 Conwartttives for Dvement in funds Net movement in fund8 At 31112123 At 111123 Unrestricted funds General 2,234 7,368 9,602 TOTAL FUNDS 2,234 7,368 9,602 Comparative net movement in lld9, included in the above are a8 follows: Incoming Resources Movement expended in funds Unrestricted fund8 General fund 326,829 (319,461) 7,368 TOTAL FUNDS 326,829 {319.461) 7,368 A current year 12 month8 and prior year 12 months combined position is a8 follows: Net m0Vennt in fLU)d8 At 31112124 At 111123 Unrestricted funds General fund 2,234 52,437 54,671 T(AL FUNDS 2,234 52,437 54,671 Page 11 continued...
KHALILI FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - Continued FOR THE YEAR ENDED 81 DECEMBER 2024 11. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined net movenLent in fund8, included in the above are a$ follows: Incoming re80urce8 Re80urce8 expended Movement in fjJnd8 Unrestricted funds General fiuld 995.873 {943,436) 52,437 995,873 {943,436) 52,437 12. REIATED PARTY DISCLOSURES Dillg the year onè of the trustee donated £630,IKIO (2023: £Nil) to the cl]arity. Page 12
KHALILI FOUNDATION DETAILED sTATETrNT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 81 DECEMBER 2024 2024 2023 INCOME AND ENDOWMENI Donations and legacie8 Donations 664,587 325,530 Investment Ineott Inve8tment inco)ne 4.457 1.299 Total incoming resources 669,044 326,829 EXPENDITURE Charitable activities Research (x)ntribution8 Donations Fundraising Educational nterialS 103,61 47,51M) 26.058 78,998 411,674 38,622 450,296 256.156 Support C08ts Management Advisory fees Advertising Courier Accountancy Independent examination 84,034 63,885 21,812 1,200 600 50.493 9,468 1,2(M) 600 171,481 61,761 Finance Bank charge8 Exchange difference 1,234 823 (236) 1,284 587 Other Telephone Postage and 8tationery Sundrie8 964 595 362 964 957 Total resource8 expended 623,975 319,461 Net Inconje 45,069 7,368 This page doe8 not forni part of the 8tatutory financial statements Page 13