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← The Kathleen Smith Foundation

2024-06-06-accounts

The Kathleen Smith Foundation The Kathleen Smith Foundation The Kathleen Smith Foundation 1060505 1060505
Receipts andpayments accounts CC16a
For the period
from
~~ee~~		 Period start date
07.01.2023		 Period end date
To
06.06.2024
~~e~~
Section A Receipts and payments
Unrestricted
funds		 Restricted
funds		 Endowment
funds		 Total funds Last year
to the nearest £ to the nearest £ to the nearest £ to the nearest £ to the nearest £
A1 Receipts
Income from investments
109,720		 - - 109,720 41,076
Interest received
3,757		 - - 3,757 830
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -

Sub total (Gross income for 113,477 - AR)

Sub total(Gross income for
(Gross income for
AR)		 113,477 - - 113,477 41,906
A2 Asset and investment sales,
(see table).
Sale of investments
-
-
2,009,739
2,009,739
1,975,917
-
-
-
-
-
Sub total -
-
2,009,739
2,009,739
1,975,917
Total receipts
113,477
-
2,009,739
2,123,216
2,017,823
~~S555~~
A3 Payments
Grants awarded 128,000 - - 128,000 60,000
Investment manager fees (VAT inclusive)
- - 18,075 18,075 13,224
Trust administration fees (VAT inclusive)
18,812 - - 18,812 11,786
Independent examiners fee 780 - - 780 780
Bank charges - - - - 108
Cash management fees 125 - - 125 -
- - - - -
- - - - -
- - - - -
**Sub total ** 147,717
-
18,075
165,792
85,898
A4 Asset and investment
purchases, (see table)
Investmentpurchases
-
-
1,929,893
1,929,893
1,948,708
-
-
-
-
Sub total -
-
1,929,893
1,929,893
1,948,708
Total payments
147,717
-
1,947,968
2,095,685
2,034,606
~~——————~~
Net of receipts/(payments)
- 34,240
-
61,771
27,531
- 16,783
A5 Transfers between funds
112,077
- 112,077
-
-
A6 Cash funds last year end
35,940
75,848
111,788
128,571
Cash funds this year end
113,777
-
25,542
139,319
111,788
~~===>>~~

CCXX R1 accounts (SS)

17/02/2025

1

Section B Statement of assets and liabilities at the end of the period Section B Statement of assets and liabilities at the end of the period Section B Statement of assets and liabilities at the end of the period
Categories
Signed by one or two trustees on
behalf of all the trustees
B5 Liabilities
B3 Investment assets
B2 Other monetary assets
B4 Assets retained for the
charity’s own use
B1 Cash funds		 Details
Investment portoflio
Details
Total cash funds
(agree balances with receipts and payments
account(s))
Capital account
Income account
Details
Details
Details
Signature
~~Chris Thurlow (Feb 24, 2025 08:56 GMT)~~		 Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
-
-
113,777
-
-
-
113,777
-
OK
OK
Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
-
-
-
-
-
-
-
-
-
-
-
-
Fund to which
asset belongs
Cost (optional)
Endowment
-
-
-
-
-
Fund to which
asset belongs
Cost (optional)
-
-
-
-
-
-
-
-
-
Fund to which
liability relates
Amount due
(optional)
-
-
-
-
Print Name
Chris Thurlow on behalf of Ludlow
Trust CompanyLimited		 Endowment
funds
to nearest £
25,542
-
-
25,542
OK
Endowment
funds
to nearest £
-
-
-
-
-
-
Current value
(optional)
2,721,192
-
-
-
-
Current value
(optional)
-
-
-
-
-
-
-
-
-
When due
(optional)
Date of
approval
~~Chris Thurlow (Feb 24 2025 08:56 GMT)~~ Chris Thurlow on behalf of Ludlow
Trust CompanyLimited
~~,~~

CCXX R2 accounts (SS)

17/02/2025

2

Trustees’ Annual Report for the period

From 07 January 2023 To 06 June 2024

Charity name: The Kathleen Smith Foundation Charity registration number: 1060505

Objectives and Activities

SORP reference
Summary of the purposes of
the charity as set out in its
governing document		 Para 1.17 The objects of the charity are to apply the
income, and all or such parts of the capital,
to or for the benefit of such exclusively
charitable purposes in any part of the world
and in such manner as the Trustees may in
their absolute discretion think fit.
The Trustees will take into account the
Letter of Wishes, which requests that
consideration be given to benefit the
following charities:
Benenden Hospital
Field Land Foundation
Barnardos
The Horder Centre
RNIB
RNLI
Musicians Benevolent Fund
National Trust
Save the Children
Moorfields Eye Hospital
MacMillan Cancer Support
Cancer Research UK
St Christopher’s Hospice
Eltham College
British Red Cross
CLIC Sargent (formerly Malcolm Sargent
Cancer Fund)
Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.		 Para 1.17 and
1.19		 In furtherance of the charity’s objects for the
public benefit the trustees provide grants in
accordance with the Letter of Wishes.
Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit		 Para 1.18 In determining the charity’s activities, the
trustees have had regard to the Charity
Commission’s guidance on public benefit.
Additional information (optional)
You may choose to include further statements where relevant about:
SORP reference
Policy on grant making Para 1.38
Policy on social investment
including program related
investment		 Para 1.38
Contribution made by
volunteers		 Para 1.38

Other

Achievements and Performance

SORP reference
Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.		 Para 1.20 During the year under review the charity
made grant awards of £16,000 each to:
St Christopher’s Hospice
Save the Children
British Red Cross
National Trust
MacMillan Cancer Support
Eltham College
The Field Lane Foundation
Horder Healthcare
Additional information (optional)
You may choose to include further statements where relevant about:
Achievements against
objectives set		 Para 1.41
Performance of fundraising
activities against objectives
set		 Para 1.41
Investment performance
against objectives		 Para 1.41
Other

Financial Review

Review of the charity’s
financial position at the end
of the period		 Para 1.21 At the end of the reporting period the charity
had free reserves of £113,777 (2023:
£35,940).
In addition to the free reserves the charity
has bank balances of £25,542 (2023:
£75,848)
and
investments
valued
at
£2,721,192
within
the
expendable
endowment fund.
The Trustees pursue a policy of maintaining
a free reserve available to be spent in the
furtherance of the charity’s objectives as
well as covering future needs, opportunities,
contingencies and risks.
Statement explaining the
policy for holding reserves
stating why they are held		 Para 1.22
Amount of reserves held Para 1.22
Reasons for holding zero
reserves		 Para 1.22
Details of fund materially in
deficit		 Para 1.24
Explanation of any
uncertainties about the
charity continuing as a going
concern		 Para 1.23

Additional information (optional) You may choose to include further statements where relevant about: The charity’s principal sources of funds (including any fundraising) Para 1.47

Investment policy and
objectives including any
social investment policy
adopted		 Para 1.46
A description of the principal
risks facing the charity		 Para 1.46
Other Expendable endowment funds are those
which are required to be invested to produce
income but which may be transferred to
unrestricted funds at the discretion of the
trustees in order that they may be expended
in furtherance of the charity’s objectives.
Unrestricted income funds are available for
use at the discretion of the trustees in
furtherance of the general objectives of the
charity and which have not been designated
for other purposes.

Structure, Governance and Management

Description of charity’s
trusts:
Type of governing document
(trust deed, royal charter)		 Para 1.25 Trust deed dated 6 January 1997
How is the charity
constituted?
(e.g unincorporated
association, CIO)		 Para 1.25 Trust
Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees		 Para 1.25 Trustees are appointed by the existing
trustees.

Additional information (optional) You may choose to include further statements where relevant about: Policies and procedures adopted for the induction and training of trustees Para 1.51 The charity’s organisational structure and any wider network with which the charity works Para 1.51

Relationship with any related
parties		 Para 1.51 No trustee received any remuneration or
was reimbursed any expenses in the year
under review.
Ludlow Trust Company Limited was paid
£18,812 for trust administration services
during the year under review. These fees
are authorized under clause 6 of the trust
deed.
Other

Reference and Administrative details

Charity name The Kathleen Smith Foundation
Other name the charity uses
Registered charity number 1060505
Charity’s principal address Trustees Department
1stFloor, Tower Wharf
Cheese Lane, Bristol
BS2 0JJ

Names of the charity trustees who manage the charity

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19		 Trustee name Office (if any) Dates acted if not for whole
**year **		 Name of person (or body) entitled
to appoint trustee (ifany)
Ludlow Trust
CompanyLimited

20

– Corporate trustees names of the directors at the date the report was approved Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Names and addresses of advisers (Optional information) Names and addresses of advisers (Optional information) Names and addresses of advisers (Optional information)
Type of adviser
Name
Address
Investment Managers Coutts & Co 440 The Strand, London, WC2R 0QS
Bankers Coutts & Co 440 The Strand, London, WC2R 0QS
Accountants KJF Accounting Limited 17 Sheringham Avenue, Southgate,
London, N14 4UB

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

==> picture [505 x 126] intentionally omitted <==

----- Start of picture text -----
Signature(s)
Chris Thurlow (Feb 24, 2025 08:56 GMT)
Full name(s) Chris Thurlow on behalf of Ludlow
Trust Company Limited
Position (eg Secretary,
Chair, etc)
Date
----- End of picture text -----

CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts ••• Section A Independent Examiner's Report Report to the trusteesl members of The Kathleen Smith Charitable Foundation On accounts for the year ended 6th June 2024 Charity no (if any) 1060505 Set out on pages 1 to2 ,rom7oinber lo ￿liCI￿de 11)e p3ge nunibers ol addilioTial sheets) I report to the trustees on my examination of the accounts of the above Im charity ("the Trust") for the period ended 6 June 2024. Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect.. accounting records were not kept in accordance with section 130 of the Act or the accounts do not accord with the accounting records Independent examiner's statement I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable proper understanding of the accounts to be reached. Signed: Date: Name: Mr Keith Felton Relevant professional qualification(s) or body (if any): ACCA Address: KJF Accounting Ltd, 17 Sheringham Avenue, Southgate. London N14 4UB IER October 2018

Section B Disclosure Only complete rf the examiner needs to highlight matters of concem (see CC32, Independent examination of charity accounts: directions and guidance for examiners). Glve here brief details of any items that the examlner wlshes to disclose. IER October 2018

2025-02-24Smith-Accounts

Final Audit Report

2025-02-24

Created: 2025-02-24 By: Estera Rzepus (Estera.Rzepus@ludlowtrust.com) Status: Signed Transaction ID: CBJCHBCAABAAxYVV-yfi4J1Ftei1jgUc_Lz52cx5a1N0

"2025-02-24Smith-Accounts" History

2025-02-24 - 8:56:03 AM GMT

Document emailed to Chris Thurlow (chris.thurlow@ludlowtrust.com) for signature 2025-02-24 - 8:56:08 AM GMT

Agreement completed.

2025-02-24 - 8:56:50 AM GMT