REGISTERED CHARITY NUMBER: 1044028 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 202 FOR IaiALILI FOUTrIDATION Orcom Civva]s Lillllted Accountants 50 Seymour Street tKJndon WIH 7JG
KHALILI FOUNDATION cOTrENTS OFTHE FtNANCIAL STATEMErors FOR THE YEAR ENDED 81 DECEMBER 2025 Page Report of the Trusteeo 1 kn 3 Indendent Examiner's Report state¢ of Financial Activities Balanee Sheet Cash Flow Statement Notes to the Cash Flow Statellnt Not¢$ to the Finaneial Statements 9 to 13 Detailed statellt of Financial Activitie8 14
KHAIJIJ FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 51 DECEMBER 2025 The Trllstee8 present their report with the financial statements of the charity for the year ended 31 December 2025. The trtee$ have adryted the Charities SORP IFRS 102) "Accounting and Reporting by Charities.. Stateohent of Recommended Prarti applicable ts charities prepaTing their accounts in a(Yordance with the Finaticial Reporting Standard applicable in the UK and Repub]ic of Ireland (FRS 102) (effective l January 2019).. OBJEcfivES AND ACTIVITIES Objectives and aln The objeet of the )ltY 18 to enable peacebuilding through ar( culture and edu(xtion. advancing pea, unity and mutuAI respect worldwide. Thi8 18 aehieved thromgh partnerships svith ]nteTnation OEgani8ations including trNESCO, the Commonwealth. the United Nationg, The King's Trust and Wikimedia aB well as leading re8earch and educAtion estsblishments such as NYU Abu Dhabi and the AsSlation 0£ Commonwealth Universities Donation nkIng policy The tru8tee8 have reviewed the policy with regard to donations and grants made through their 8trategic partner8. The tnL9tee8 will, in future, con8ider repeat annual donation8 to the Bame partner where 8U8tained mpact ha8 been demon8trated. ACHIEVEMENTS AND PERFORMANCE Char5table activltie The main irtitiative8 of the Foundation bave been: - Commonwealtly Peatr Prize - awarded at its inaugural eeremony in March 2025 to Pa8tor Dr James Movel Wuye and Imam Dr Muhammad Nurayn A8h9S& of Nigeria'8 Intsrfaith Mediation Centre, in the PTe8ence of Hi8 Maie8ty King Charle8 11[. King'8 Comn)onwealth Fellow8hip Programme - launehed as Founding Partner with Itm King Charle8 at CHOGM 2024, 8UPPOrting 250 Fellows acros8 PhD, profes8ionaL and undergrnduate pathway8 to 8trengthen climate resilien in Conunonwealth Small I&ld Developing State8. . United Cultures l The King'8 Trust Partnership . funding ten peaeebuilding Èeg8ion8 Le8 major UK cities using the Foundation's Interfaith Explorers educational regOU9. . UNESCO Men)ory of the World I Wikimedia Partnership . achieving approximatety 100 million image Vie in September 2025 alone, with new artides created in nineteen langLge8 documenting underrepresented cultures. Page I
KHALILI FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR Ef4DED 31 DECEMBER 2025 FINANCIAL REVIEW Review ofactivities and results Financial results for the year are set out in the Stat8rnent of Financial Activitie8 on page 5 and the p(oition at the end of the year is shown in the balan¢ 8h88t on pa8e 6. During the year, there was deficit of 929,961 (2024: surylu8 £45,069). The deficit 18 mginty due tr) high 8UPPOrt ts.. The eharitable expenditure for the year amountsd to £508.£97 (2024.. £623,975). The year ènd egsh balan was £24,430 (2024: £56,051) At 31 December 202f>, the tru8t had unTestTictsd reserve8 of £24,710 {2025: £54,671). The Truatee8 aiDI to maintaiti 8uffieient free re8erve8 to enable the charity to ntinue its work at the currertt level and, if POS8ible, to increase it. In 2026, the Foundation plang to publiBh 8 8pec&al volume of Art and PeabUd1ng, host a Youth Pea Symposium during Commonwealth Week, expand the IlltErf.th Explorers programme into national 8chwl curricula itL P8rtnÈrsl)ip with Cambridge University. and deepen partner8hip8 With tTNESCO, The KÉng'8 Trust and WikimediA UK. UN Engagement . contributing ts) UNHCR and UNITAR peaeebuilding forums, with pjartg kn trttin Commonwealth youth peÈcÈbuilders tbTough UNtTAR in 2026. Khalili Pub]ic Humanitie8 Fel]ow8hip . inaugura] fellow8bip awarded to Profe880r Mahnaz Yousefzadeh of NYU for Spring 2026, ll8ed on eultural diplomacy and objeet-based stontelling. STRUCTURE. GOVERNANCE AND MANAGETr GoVerng doeument The charity 18 controlled by its governing d(Ument. a deed of trust and nstitute8 an uninix)rporatsd charity. The Khalili Foundation 18 (x)nyLitutsd under a trust deed dated 15 December 2016 and 18 8 reÈi8tÈred charity. It'8 charity number 1$ 1044028. RecrUItnt and appo]ntnllt of new trustee8 The board have the power to recruit new tru8tse8. The Dew tru8tses can only be appointed if they have agreed to become a Anember of the charity and their name8 have been entered in the tegi8ter. Organi$ational strueture The tru8tees who have served during the year are mentioned below. Tru8tee8 aTe appointsd by the board of tru8tee8 and serve for five years after whith period they may put thern8elves forward fot re-appointment. RegA8tered Charity number 1044028 Prlttelpal addTe88 88 Crawford StTret IDndo WIH 2FJ Page 2
KHALILI FOVNDATION REPORT OF THE TAUSTEES FOR THE YEAR ENDED 31 DECEMBEB 2025 Tr4bStee$ Professor Slr N D Khjllll B Kh•llll R Khallll L•dy M S Kh•llll D J Khallll N Uddln Indopendfrnt Examin•r Aamlr Kall FCA Ortom Cl)11 Llmlttd Accountants 50 Seymour Street London W1H7JG Approved by order ol th• board of Intsle¢s on 3 June 2026 and slgned on Its beh811 br. Proles60r Slr N D Khallll- Tru9• PY49tt 3
INDEPENDEr EL4Mlf4ERS REPORT TO THE TRUSTEES OF KHALILI Fouf4DATION Independent examiner's report to the trustee6 of Khallli Foundation I report to the charity trustees on my examination of the aceounts of Khalili Foundation (the Trustl for the year ended 31 December 2025. Responsibilities and basls ofroport AS the charity tru8tee8 of the TTht you are re8POll8ible for tho PTepAr&tion of the account8 in accord8nce with the TequireInent8 ofthe Charitie8 Act 2011 Cthe Act,). I report in respect of my examination of the Tru8t'8 accounts carried out under Section 145 of the Act and in earrying out ny examAnatioTh I have followed all applicable Direction8 given by the Chgxity Commi88ion under Section 145(5)(b) of the ACL Independent *x4millèrfy statemènt Since your cknity's 8TOSS income 8xceeded £250,(MJO your examiner must be a meD]beT of a Jistsd body. I can (y)nfiEm that l am qualified to undertake the examination because l am a memb8T of the In8tiÉute of Chartered Awuntsnts in England and Wales, which is one of the listsd b(Mlie8. I have completed my examination. I confirni that no material matters have come to my attention ID connection with the examination giving me cau8e ts) believe that in any matsiial respect: acc¢)unting records were not kept in respect of the Trust a8 Trquired by Section 130 of the Act., or the accounts do not accord with the records. or the accounts do not comply with the applicable requirements ¢>)ncerning the form and o)ntent of accounts Set out in the Charities {AccDunts and Report8) Regulatio 2008 otber than any requirement that the accounts give a true and fair view which 18 not a matter co]dered a8 part of an independent examination. I have no eoneerns and have come across no other matters in connection th the examination to which attention should be drawn in this report in order to enable a proper under8tanding of the accounts to be rekched. mir Kazi FCA The In8titute of Chartered Accountants in England and Wales Orcorn Civvals tllmited Accoyntants 50 Seymour Street ndon WIH 7JG 3 June 2026 Page 4
KHALILI FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025 2025 Unrestricted 2024 T()tai Nots8 INCOME AND EI4DOWMES FROM Donations and legaeies 47&S39 664,587 Inve8tmeDt income 1,987 4,457 TotAI 474276 669,044 EXPENDITURE ON R8i8ing funds 250 Charitable activities Resources expended 508887 623,725 Total 50&237 623,975 NET INCO1[PENDITuRE) (29J61) 45,069 RECONCILtATtON OF FUNDS Total fvnd8 brought forward 54,671 9.602 TOTAL FUNDS CARRIED FORWARD 24,710 54,671 The notes fonn part of thesè finan¢iai Statemts Page 5
Kmaiii i FOIINDATION BAI.A14CF. SHF.ET 31 DECEMBER 2025 2025 Uni•stYlcted lund 2024 T)t¥l lunds Notfrx CURRENT ASSETS Debto Caih •1 bank 2,220 2,220 56,051 26,650 $1,271 CREOITORS Amounts lalllny du• wlthln orte year 10 11,9401 {3.6W) NET CUARENT ASSETS 24,710 51,671 TOTAL ASSETS LESS CURRENT LIABILITIES 24,710 54,671 NET ASSETS 24,710 54,671 FUNDS Untestricted funds 11 24,710 54,671 TOTAL FUNDS 24,710 54,671 The linlnclal statement5 werè appmed by the Board ol Truslees and authDYlsed lor tssue OA 3 June 2026 and wert Slgnpd on Its behalf by: Sir N D Khalili . Yrustee T11 fbQtes lorm parl Ot Ihesr 11sianLial &lylem¥ntè Pag¥ b
IIHALILI FOUNDATION CASH FLOW STATEMENT FOR THE Ef4DED 81 DECEMBER 2025 2026 2024 Notss Cash flows from operating activities Ca8h generatsd from operation8 (31.621) 46.869 Net cash (used inypTovided by operating activities <31,621) 46,869 Change in cash and Cash equivalents in the reportlng period Casb and cash equivalettts at the beginning of the reporting period (31.621) 46,869 66,061 9.182 Cash and cash equivalents at thÈ ofthe reporting period ¥480 56,051 The nots8 fom part of these financial statements Page 7
KHALIIJ FOUNDATION NOTES TO TEIE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2025 RECONCtLIATION OF NET1Tr3aTNDITUREyINCOME NET CASH FLOW FROM OPEL4TING ACTIVITIES 20215 2024 Net {expenditureyinry)me tor the reporting period (as per the Statettnt of Financial Activities) AdjuStnts for. O)eere&8e)lincrease in eyeditor8 (29,961) 45,9 (1,660) Net eagh (u8ed xn)Iprovided by operation# 131,621) 46,869 ANALYSIS OF CEL4NGES IN NET FUNDS At IIU25 Cash flow At 8in2J25 Net cash Ch at bank 5Q051 (31.621) ¥430 b&Obl (81,621) 24,480 Total 6051 (31,621) 24,430 The notes form part of thè8e finaneial statèments Page 8
KHALILI FOUNDATION NOTES TO THE FINANCtAL STATEMETrirs FOR THE YEAR ENDED 31 DECEMBER 2025 ACCOUFfTING POLICIES of preparingthe fuwwial statenntS The financial 8tatement8 ofthe charity, which 18 a pub]ic benefit entity under FILS 102. have been prepared in accordan with the Charitie8 SORP (FRS 1021 'Accounting and Reporting by Charitie8: Statement of Recollended practi applieable to clharities prepaTiryg their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effeetive l January 20I9)'. Finaneial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republie of Ireland, and the Charities Act 2011. The finaneial 8tatement8 have been prepared under the hiBtorical cost (x>nvention. Income All inixjme is recogni8ed in the Statement of Financial Activities once the ClLY ]w entitlemettt to the funds. it is probable that the income be T]Ved and the amount can be measutrd reliably. Expenditure tiabilities are regnISed as expenditurè ag soon as there is a legal or constructive obligation committing the eharity to that expenditure, it ig probable that a transfer of enMI¢ benefits will be required in settlement and the amount of the obligation can be measured reliably. ExTrenditure is accounted for on An Recrnals basRs and has been classified under heading8 that aggregate all )st relatsd to the eat£gory. Wherè eA)gts cannot be directly attributed to particu]ar headings thèy have been allocated to activAtie8 on a baBi8 consistent the use of re80te8. Taxation The charity is exempt from tax on its charitable activitie6. Fund accounting Unrestricted funds eAn be u8ed in ac1x)rdan wRth the charitable objective8 at the di8eretion of the tru8tee8. Re8tricted funds can onty u8ed for particutsr TestriCt pury)02es within the objects of the charity. Re8trietions arise when specified by the donoT or when funds are rai8ed for partieular re8trActed pur9. Further explanation of the nAture and purp¢J8e of each nd 18 included in the notes to the fmancial 8tatements. DONATIONS AND LEGACIES 2025 2024 Donations 476889 664,587 Page 9 LY)ntinued...
KHALILI FOUNDATION NOTES TO THE FINANCIAL STATEMENVS- (ntinued FOR THE YEAR EfiDED 31 DECEIIIBER 2025 INV&STMETrrr INCOME 2025 2024 Inve8tment income 1,987 4,457 RAISING FUNDS Rai8ing donations and legaeies 2025 2024 Support Clk8t8 CHARITABLE ACTIVITIFS COSTS SuptKJrt costs (see nots 6) Direct ReBou$ expended 316,368 191.874 508,2S7 SUPPORT COSV3 Management Finan Totals Re80urces expended 190,370 1,504 191,874 TRUSTEE9 REMUNERATIONAND BENEFITS There were no LThte98, Ternuneration or other beneEt6 br the yegy ended 31 DeMr 2025 nor for the year ended 31 Dernber 2024. Trustees, expenses There were no tru8tee8' expenses paid for the year ended 31 December 2025 nor for the year ended 31 Deeember 2024. COMPARATI FOR THE STATEmETr OF FINANCL4LACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM DonatiOll8 and legacies 664,587 Investment inwme 4,467 Total 669.044 ¥PENDITURE ON Raising ndS 250 Charitable actiTrryties Re81)urceB expended 623,725 Page 10 coJ)titiued...
IUIALILI FOUNDATION NOTKS TO THE FINANCIAL STATEMENI3- eotttittuéd FOR THE YEAR ENDED 81 DECEMBER 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES. continued Unrestricted fund Total 623,975 NET INCOME 45,069 RECONCILIATION OF FUNDS Total fund8 brought forward 9,602 TiyfAL FUNDS CARIUED FORWARD 54,671 DEBTORS: AMOUNVS FAiLING DUE WITHIN ONE YEAR 2025 2024 Other debto 220 2.220 10. CREDITORS: AMOUIWS FAIIING DUE WITHIN ONE YEAR 2025 2024 Oth8r ereditorg 1,940 3,600 11. MOVEMENT IN FUNDS Net movement in funds At 3111W25 At 111125 Unreetricted funds General fund 54,671 (29,961> 24,710 TQTAL FUNDS 54671 (29,961) 24,710 Net movement in fllnd included in the aboye aTe a8 follow8: Incoming Re80UW48 Moven)ent res011rS ended in hd$ Unrestricted funds General fund 478.276 (508.237) <29,961) TOTAL FUNDS 47&276 1508837) 129,961) Page 11 continued...
KHALIIJ FOUNDATION NOTES TO TEtE FINANCIAL STATEMENTS- eontinued FOR THE YEAR ENDED 81 DECEMBER 2025 11. MOVEMENT IN FUNDS- continued Conwaratives for in hllul8 NeÉ movement in funds At 31112124 At Vlf24 Unrestrictsd funds General fund 9,602 45,069 54,671 9,602 45,069 54,671 Comparative net movement in fimd$, induded in the above are a8 follow8: Incoming resour Re8011rce8 Movejnent expended in ndS Unrestricted funds General fund 669,044 (623,9751 45,069 TOTAL FUNDS 669,044 (623,975) 45,069 A current year 12 month8 and prior year 12 month8 (Dmbined position 18 follow8.. Net movement in funds At VU24 31112125 Unrestricted fvnds General fund 9,602 16,108 24,710 TOTAL FUNDS 9,602 15.108 24.710 A current year 12 month8 and prior year 12 months eombined net movement in fvnd4 included in the above are as follows: Incoming resouTce5 ResouTIES expended MoveTnent in funds Unre$trioted fvnds General fund 1,147,320 (1.132,212) 15,108 TOTAL FUNDS I,147,820 11,132,212) 15,108 Page 12 Ixjntinued...
IUIAIJLI FOUE4DATION NOTKS TO THE FtNANCIAL STATEMENTS . continued FOR THE YEAR ENDED 31 DECEMBER 2025 12. REIATED PARTY DISCLOSURES During the year one of the trn8t£e donated£440,00012024.. £630,000) to the cPlty. Page 13
KEIALILI FOUNDATION DETAIlD STATEMENf OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 81 DECEMBER 202b 21Y26 2024 INCOlktE AND ENDow&Ei Donations and legacies Donation8 47&839 664,587 Investment income Investment income 1,937 4,457 Total iD¢oing resources 47fj276 669.044 EXPENDITURE Charitable activitie$ Rearch contributions Donations 72,719 22S,000 18.644 411,674 38,622 31&863 450,296 Support costs managenllt Advi80ry fee8 Advertising Courier AeeountAncy Independent examination 77.263 88,247 22,820 1,520 720 84.034 63,835 21,812 1,200 600 190.370 171,481 Finance 1,504 1,234 Otber Telephone 964 Total re80urce8 expended 508,287 623,975 Net (expenditureyineon <29,961) 45,069 Thi8 page d(8 not form part of the statutory fuwicial 8tatenients Page l4