2024-12-31-accounts

TRUSTEES’ REPORT AND ANNUAL ACCOUNTS

FOR THE YEAR ENDED

3187 DECEMBER 2024

Registered Charity No. 1066739 Registered Company No. 03460296

London Catalyst Report and Accounts 2024 nnn

CONTENTS	PAGE(S)
REPORTS
Reference and administrative information	3-4
Trustees’ Annual Reportforthe yearended 31 December2024	5 - 16
Independent auditor's report totheTrustees ofLondon Catalyst	17-20
ACCOUNTS
Statement offinancial activities	21
Balance sheet	22
Notes tothe financial statements	23 - 30
GRANTSAND DONATIONS
Summary of all grants paid or committed in2024	31-34
TheHospital-SundayAppealdonationsin2024	34

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London Catalyst Report and Accounts 2024 EE ee

LONDON CATALYST

(formerly the Metropolitan Hospital Sunday Fund)

45 WESTMINSTER BRIDGE ROAD, LONDON, SE1 7JB

T: 07578742574

E: [e-mail] W: www.londoncatalyst.co.uk

Charity Registration No. 1066739

Registered Company No. 03460296

PRESIDENT

The Right Hon the Lord Mayor of London (ex officio)

VICE-PRESIDENTS

The Rt. Reverend & Rt. Honourable The Lord Bishop of London His Eminence the Cardinal Archbishop of Westminster The Rt. Reverend the Lord Bishop of Chelmsford The Rt. Reverend the Lord Bishop of Southwark The Rt. Reverend the Bishop of Stepney The Most Reverend the Archbishop of Southwark The Rt. Reverend the Lord Bishop of Rochester The Very Reverend, the Dean of St. Paul’s The Very Reverend, the Dean of Westminster The Chief Rabbi The Venerable, the Archdeacon of London The Free Churches Moderator

BOARD OF DIRECTORS (TRUSTEES)

Kate Sing’ombre (resigned May 24) Dela Glevey (appointed June 24) Dr Sarah Divall (resigned June 24) Fr Simon Cuff (appointed Sep 24) Mark Palframan (resigned June 24) Rebecca Rittner (appointed Sep 24) Dr Naureen Bhatti (Chair, Dec 24) Matthew Wilson (appointed Dec 24) Joan Major (resigned Dec 24) Anna Grey (appointed Dec 24) Philippe Granger (resigned Dec 24) Catherine Hill (appointed Dec 24) Ruby Sethna (resigned Dec 24) Andriy Voshchevskyy (appointed Dec Danny Daly 24) Emma Whitby Alice Groux Nick Durack

MEMBERS OF THE CHARITY

Dr Caroline Vaughan Dr Ruth Kosmin Dr Muhammad Bari MBE, DL Dr Steve Mowle Tim Cook OBE Heather Williams Zoe Camp John Pulford Victoria Willetts Judy Jones Margaret Elliott Robin Holland-Martin Charles Davidson Sara Humphreys Rebecca Rittner

Members are those who, in addition to the Board of Directors, subscribe to the Memorandum of Association and assist in the advancement of the objects of the charity. They may, but not exclusively, represent and are nominated by a faith group or religious denomination.

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London Catalyst Report and Accounts 2024

STAFF & PROFESSIONAL ADVISERS

Directorand Company Secretary	Rosario Guimba-Stewart
Administrator	Jessica Stephenson Clarke
Principal office	45 Westminster Bridge Road London
	SE1 7JB
Auditors	BUZZACOTTAUDIT LLP
	130 Wood Street
	London, EC2V6DL
Bankers	CAF BANK LTD
	25 Kings Hill Avenue, Kings Hill
	West Malling
	Kent, ME19 4JQ
	ROYAL BANK OF CANADA
	54 Bath Street,
	St Helier,
	Jersey, JE4 8YD
Investment Advisers	STANHOPE CAPITAL LLP
	35 Portman Square
	London, W1H 6LR
Solicitors	WITHERS
	16 Old Bailey
	London,EC4M7EG

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London Catalyst Report and Accounts 2024 TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report together with the financial statements of London Catalyst for the year ended 31 December 2024. The report has been prepared in accordance with the Charities Act 2011 and serves as the directors, report for the purposes of company legislation. The financial statements have been prepared in accordan￿ wtth the accounting policies on pages 23 to 25 of the attached financial statements and comply with the charitable company's memorandum of Articles of Association applicable laws and the requirements of Accounting and Reporting by Charities Statement of Recommendation Practice applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). STRUCTURE, GOVERNANCE AND MANAGEMENT HISTORY London Catalyst, formerly the Metropolitan Hospital Sunday Fund, was established in 1873 following a meeting of religious and civic leaders hosted by the Lord Mayor of London. Appalled by the impoverished lives of many in the capital. they agreed that on one day each year, in places of worship throughout Greater London, a collection should be taken up to provide a fund to improve the health of the 'sick and poorf of London. The legacy of the original entreaty and subsequent annual appeals provides the charity's income. ADMINISTRATION London Catalyst is a registered charity and company limited by guarantee. The company's governing docurnent is its Memorandum and Articles of Association dated 4th November 1997. The charity comprises the Board of Trustees, Committees, Membership and Staff as shown on pages 34. The Board meets four times a year to conduct the fonnal business of the charity, including recommendations and reports from its sub-committees. The day-to-day administration of the charity, including the processing of applications before consideration by the Grants Scrutiny Committee and the Board, is delegated to the Director of the charity and supported by a part-lime Administrator. KEY MANAGEMENT The trustees consider Ihat they, together with the Director, comprise the key management of the charity in charge of directing and controlling. running and operating the charity on a day-to- day basis. The trustees do not receive any remuneration in connection with their duties as trustees. The Board decides staff remuneration and pay at the second meeting of the year. This includes a review of the Directorfs perfo￿an￿ by trustees as part of an annual appraisal process conducted by the Chair. The trustees refer to the rate of increase of the Consumer Prices Index and the Retail Price Index, and the percentage salary award by Peabody as benchmarks. The charity does not have a performance-related pay structure and expects staff to take all holiday entitlement within the year. TRUSTEES Trustees are appointed by the Board and serve for three years, after which they may be reappointed. A trustee may serve three consecutive temis of Offi￿ before retiring. The charity is required under its constitution to have two religious and one medical or social work representative on the Board.

London Catalyst Report and Accounts 2024 TRUSTEES REPORT (CONTINUED) Prospective trustees are invited to submit a CV to the Board and to meet with the Director. Chair and trustees. They are provided with infomiation on the charity and the report and accounts. A trustee-led panel then interviews the candidate before reporting to the Board. Trustee training and support are arranged as required, and the availability of such is included on the agenda of Board meetings. Trustees, interests are recorded on appointment and updated annually. Any possible conflict of interest is declared at the start of each meeting, recorded in the minutes, and rf applicable, the trustee would not participate in the decision. A review of the membership is undertaken annually, and members who have not fulfilled the requirements for membership are removed from the register. All trustees and members are volunteers, and the Board greatly appreciates all the voluntary assistance given to the charity. The charity is fortunate to have trustees and members with a range of skills and professional expertise in key areas.. grantmaking, governan￿ and finance. It is acknowledged that to truly reflect the aims of the charity and the interests of beneficiaries, a diverse and informed board of trustees. willing to address issues of equality and inclusion, is required. RISK MANAGEMENT Trustees have identified and assessed the various risks to which the charity is exposed. The principal risks are as follows: Decline in investment value: The wars in Gaza and Ukraine and the political instability in other parts of the world. including the economic crisis. create an uncertain and volatile market that could lead to a decline in investment value and redu￿ funds available for our operation and grantmaking. We will mitigate this by having a long-term investment horizon and taking an average of value to determine how much we spend. This should enable us to absorb almost any temporary decline in investment value as and when they occur. Loss of ke staff". The charity is dependent for its day-to-day operations on its full-time Director. To mitigate the effects of any unplanned absence from the offi￿, the trustees have in place a system of regular meetings between the Chair and Director, an internal audit by a trustee of documented processes, the support of a part-time Administrator, an annual appraisal system and support for professional development. A Salesforce grants management system and regularly updated office control documents are in pla￿. Loss of office and services: The charity has a service level agreement (SLA) with Peabody for back Offi￿ support. This is a commercial arrangement that may change over time. The SLA is agreed for two years and reviewed annually. The Director and trustees oversee all essential functions to ensure a smooth process for relocation if required. Failure to effectivel mana e its rantmakin ro ramme: London Catalyst is a small charity providing grants to organisations for the benefit of London residents. It aims to support organisations and or projects that address social determinants of health, including povety, a￿sS to information and advice, and isolation. The annual financial request we receive from organisations far exceeds our financial capacity. This year, our rejection rate for our Projects Grants programme was 800A, which is not ideal. To reduce rejection and ensure that we draw interest from organisations that fit our funding programme, we reviewed our vision and mission, including our grantmaking strategy, funding criteria. and priorities.

London Catalyst Report and Accounts 2024 TRUSTEES REPORT (CONTINUED) GRANT APPLICATION AND SELECTION Grant applications are made online via the charity's website. This allows for a seamless process by which applications are received, reviewed, managed. and monitored. The website, which we recently modernised, is regularly updated to provide infomiation on grantmaking and offer advice and guidance to applicants. Applications are reviewed by the staff against eligibility criteria before consideration by the Grants Scrutiny Committee and the Board. NETWORKS AND AFFILIATIONS The charity maintained its participation in grantmaking sector networks as a member of London Funders and the Association of Charitable Associations (ACF) and is registered with the Fundraising Regulator. The London Catalyst Director was elected as a trustee for ACF in July 2024. PEABODY In 1995. London Catalyst enlered a management agreement with Peabody. benefiting from the reSoUr￿S of one of London's largest social housing providers. Peabody provides office space, accountancy and other services under the management agreement. This agreement is reviewed every year. CHARITABLE OBJECTIVES & ACTIVITIES THE OBJECT OF THE CHARITY 'The charity is established to relieve poverty. sickness, disability and infirmity among persons resident in the area bounded by the M25 London Orbital Motorway or persons who have a real and substantial connection with such area or any part of it, particularly but without prejudice to the generality of the foregoing by supporting and working with other charitable organisations established for relief of poverty, sickness, disability and infirmity and by providing grants to assist individuals and organisations for the aforementioned purposes., VISION A healthy and thriving life for Londoners. MISSION To enable organisations to improve the health of Londoners by tackling poverty and isolation. AIMS To improve the health and well-being of people living in poverty and affected by ill health. disability, and social exclusion (Catalytic) To remove people from poverty (Compassionate) To raise awareness of the work of the organisations we fund and the needs of the sick and poor of London (Collaborative) OBJECTIVES To act as a catalyst through a programme of grantmaking lo indude: Support for agencies best pla￿d to distribute grants to people in need. Projects tackling unmet health needs and the effects of poverty. Working with other grant givers and philanthropists.

London Catatyst Report and Accounts 2024 TRUSTEES REPORT (CONTINUED) PUBLIC BENEFIT London Catalyst makes grants to support the work of charities. communty groups, and social enterprises operating in London that are established for public beneftt. The trustees have complied with their duty to have due regard to the Charity Commission's public benefit guidance. The organisations funded by the charity are considered well placed to realise its charitable objects and to help improve the lives of the sick and poor of London. The charity ran the following grant programmes during the year. Main grants for initiatives tackling unmet health needs and the effects of poverty. Partners for Health collaborative grants programme. Hardship grants to organisations for distribution to people in need. London Catalyst continued to target funding for the relief of poverty and to tackle social and health inequalities. This is not a static approach. and consideration is given to the social deteminants of poverty, ill health, and inequality in London. The trustees recognise that to meet the charity's objectives and to demonstrate public benefit. a balanced approach to grantmaking is required. In the case of the Hardship grants, the intention is to work with effective partner agencies to assist with the distribution of funds, particularly in areas of deprivation, and more generally to people in need in all London boroughs. Our Main grants are made in response to unmet health and social needs. It remains the Board's intention to work with other grant makers when possible and where common interests exist to maximise the impact and reach of our grantmaking. ACHIEVEMENTS AND PERFORMANCE A. STRATEGIC ACHIEVEMENTS Recognising the need to focus our resources and create a sustainable impact, we reviewed our vision and mission. including our grantmaking strategy, criteria, and priorities b. We renamed our grants programmes to respond to the growing call from the charity sector for different types of grants and on how they are used. The Projects Grants Programme is now called Main Grants Programme recognising our grantees, need for core and unrestricted grants as well as project grants. Our Samaritan Grants Programme is now called Hardship Grants Programme to reflect how the grants are mainly used, to add￿$S the hardship many Londoners are experiencing. c. London Catalyst joined the Open and Trusting Grantmaking community in 2024, pledging to implement its eight commitments. d. Due to the pressing economic crisis, the board made a strategic decision to increase its maximum grants for the Main Grants Programme from £5,000 to £10.000 and to implement multi-year grant funding of up to three years from 2025. e. We modemised our website to make it more user-friendly. B. GRANTS PROGRAMMES OVERVIEW During the year, the trustees paid or committed £318.741 in grants to charitable, not-for-profit and community organisations (2023: £327,188).

London Catalyst Report and Accounts 2024 TRUSTEES REPORT (CONTINUED) In 2024, we received a total number of 325 applications with a total requested amount of £1.829,537 for all three grant programmes. namely Main, Hardship. and Partners for Health. Of those, 114 applications were Suc￿sSfUl. Key points include: Assisting over 100 organisations in 27 London boroughs and across the M25 area. Most applications came from the following boroughs: Hackney (49>, Southwark (23), Barnet (21), Newham (17), Tower Hamlets (17), and Barking and Dagenham(16). The top six boroughs re￿Iving grants are Hackney (£29,400), Islington (£18,200), Newham {£17,460), Lewisham, Southwark, and Wandsworth (£16,492). MAIN GRANTS During the year, we received 206 applications for Ihis programme with a total requested amount of £1,124,735. Of those, 44 applications were successful. totalling £185,438. Refugees, asylum seekers. and migrants (RASM). women, and people with disabilities were the top three communities that received the most support from the grants, whilst physical and wellness activities, counsellingnherapylrehabilitation, and sports and social activities were the top project activitieslservices offered by successful organisations. CASE STUDIES 1. Lewisham Donation Hub - £2,500 The Hub diverts waste that would otherwise go to landfill, refurbishing it and giving it away for free to those in need. This could include household items, clothes or children's toys. Funding was awarded for a Hub Operations role, allowing them to fund Ihe role for a longer duration and extended hours. 2. Champions 4 Change Wellbeing - £4,500 This organisation provides fitness and wellbeing services to marginalised groups such as the physically challenged and those at risk of anti-social behaviour. The grant supported boxing fitness therapy for adults with or at risk of type 2 diabetes. During the 24-week programme, GPS noted there was at least a 50QA reduction in the need for diabetes medicalion. 3. Wave for Change-£3,500 WAVE for Change is a movement of people with and without learning disabilities working together to create more vibrant mixed-ability places in the heart of our communities across Barnet, Haringey and Enfield. Funding was for the delivery of 3 mixed-ability events to encourage inclusivity. °The clear success was the July Drama Event. The group was large (22 people) and involved a full day of drama-based activities and interactions. What worked particularfy well was the level of interactions Whe￿ the activities were designed for everyone to meet everyone else, leam about each other and complete tasks together, building relationships and teamwoth. The majority of attendees had disabilities, and most would not have had another activity that day, showing the strength of such activities. We will be using this model going forward for new groups and encouraging arts based interactions as the entire day was positive."

London Catalyst Report and Accounts 2024 TRUSTEES REPORT (CONTINUED) 4. Remark- £3,000 Remark is a deaf led communty charity, aiming to reduce isolation amongst the deaf community. Funding was awarded towards their new initiative of supporting deaf parents and deaf children. reaching around 90 families. The groups became hugely popular, particularly during school holidays. Here is one parent's experience, "My son, Alex., is somewhat isolated when it comes to holidays and weekends, as we have to plan things well in advance to meet other families. You have provided many opportunities for us all to meet and catch up, and it has been lovely to see children of various ages getting on. These events have made Alex" so happy, to the point wheTr he has been sad today because he misses the children, parents, and the Remark staff. Please continue with the events, especially as they have been helpful to me. Seeing other parents sharing their difficulties has made me feel less alone in my strnggles. It is so important that we have the opportunity to support each other to stay positive, and that your services continue to facilitate this. I have enjoyed every event. Thank you so much for this opportuntyl You are the bestl I appreciate itl You have made a big difference for the boys with these events, espacially when supporting them with their additional needs." 5. Intergenerational Music Making (IMM) - £2,000 IMM is a national organisation which delivers programmes. training and research to improve health through the power of music. It combines clinical praCtI￿S used in music therapy with bespoke techniques proven to maximise intergenerational engagement. Programmes include a national. digital and in-person programme in schools, care homes and hospitals. Funding was allocated to support rehabilitate patients leaving Charing Cross Hospital. Feedback from one participant shows the deep impact. 'This programme has done wonders for me. I didn't think l Gould move like l used to, but the music and the encouragement from the children made me want to try. I feel more alive now, and I've even made a few new friends. It's been a ￿al lifeline." HARDSHIP GRANTS For this programme, we received a total number of 72 applications with a total requested amount of £131,160 (2023.. 64 applications). A total of £82,600 (2023. £82,400) from 57 applications was awarded to frontline social work, health, and advi￿ ServI￿S to distribute to people in acute need. Hardship grants are an important part of our grantmaking, reflecting our charitable purpose and providing direct public benefit. Reports from our partner agencies highlight the complex and often desperate circumstan￿$ faced by many of the poorest in society, and the value of a small, timely grant, as shown in the following extracts from case studies: CASE STUDIES The case studies we re￿iVed highlight the daily struggles of people living with long-term ill health, coping with trauma, and being excluded from support services. We feature these here and on our website to raise awareness of this continuing and pervasive social injustice. 10

London Catalyst Report and Accounts 2024 TRUSTEES REPORT (CONTINUED) 1. Greenwich & Bexley Community Hospice - £1.000 The Cornmunity Hospice supports patients and families of patients with terminal illnesses. Care is delivered at home, in care homes, hospice beds, local hospitals, or in prisons. The Hardship Grants support a variety of needs, such as access to food or support whilst awaiting benefits payments. 2. Freedom from Torture (Fff) - £1,500 Operating as the only national charity dedicated to protecting and healing survivors of trauma, Fff supports the most marginalized and vulnerable across London. Survivors face a range of challenges, such as severe and complex mental health conditions, such as post-traumatic stress disorder (PTSD). Around 80% of survivors are also experiencing lasting physical problems as a result of torture. Grants supported necessities such as food and clothing. 'It is thanks to supporters like London Catalyst that we are able to support desperately traumatised clients through the Emergency Relief Fund, with donations that help them to purchase food and clothing when they need it most." 3. Caritas Bakhita House - £2.000 Bakhita House is a refuge for women escaping human trafficking across London and Hertfordshire. working in partnership with the Metropolitan Police. 660/0 of the women arriving have experienced sexual exploitation. and 270h have experienced domestic servitude. The grants support practical items such as glasses or hearing aids, buggies and high chairs, as well as other resources such as travel costs. 4. Healthy Living Projects - £2,000 Based in Redbridge, the team runs a day centre to support those at a critical time, such as those who are homeless, experiencing farnily breakdown, or escaping from violence, mental breakdowns. addictions, and those facing health issues. °By providing essentials, people's dignity starts to retum. and we are able to engage with them in depth" Grants supported with essential travel and to access support such as emergency respite care. 5. Indoamerican Refugee and Migrant Organisation (IRMO) - £1.000 IRMO is a community-led organisation that provides Latin Americans with tools and information in an empowering process to build secure, independent, and integrated lives in the UK. focusing on education, training. and employment. Around 500A of their clients are out of work and struggling to pay rent. 300A are facing food poverty, and over 250/0 are not entitled to any form of benefits. A large proportion of grants supported emergency accommodation costs for those facing homelessness. PARTNERS FOR HEALTH In partnership with the Hospital Saturday Fund (HSF). this programme re￿IVed 47 applications with a total requested amount of £573,642. from 47 organisations. Of those. 13 applications were successful with a total approved amount of £104.758, with London Catalyst providing £52,379.

London Catalyst Report and Accounts 2024 TRUSTEES REPORT {CONTINUED) CASE STUDIES 1. Healthwatch Camden - £7,580 A total grant of £15,160 was agreed for a peer-led support netrNork and awareness campaign for women and girls living with endometriosis in Camden. Six sessions were held in total between January and June 2024. with about 40 women in attendan￿, each month hosting a different healthcare professional to talk about clinical and holistic approaches to management. The second purpose of the funding was to gather data and feedback from women about their experiences. to then work collaboratively with Camden Council Health and Wellbeing Board and Central London ICB to implement changes to care. The largest barrier to the project was engaging GPS and the unwillingness of GPS to recognise the condition and its impacts. An unexpected lesson was the shift to how valuable a holistic approach to treatment was to the participants and reinforced the Importan￿ of a multi-disciplinary pathway to care needed for this condition. 2. Ryan MS Therapy Centre- £2.346 A total grant of £4,692 was agreed for a new occupational therapy serrf1￿ to improve the well-being of those with MS, helping them to overcome the physical and mental barriers caused. They supported 5 hours of Occupational Therapy a week for members with MS, for 6 months between December 2023 and May 2024. resufting in 19 out of 24 weeks of support. Appointments varied between home visits, ongoing advi￿ as well as new assessments in the centre. Support was carried out alongside Social Seriices Adult Care teams across 10 different local authorities in London. "It is very apparent how grateful the Members and the fellow staff at the Centre have been for the Occupational Therapy (OT) input. Members appreciate the assessments, home visits, and ongoing support, and how OT is transforming their lives to help them manage daY-t￿daY activities and hobbies, with adaptive equipment, and new techniques to manage moving about and coping with fatigue. To this end, we a￿ continuing OT as an ongoing service for our members." PERFORMANCE MONITORING London Catalyst has an online grants management system for applications and monitoring reports. This provides a seamless submission, grantmaking, and reporting process. Reports are requested from all grant recipients after 12 months, and these describe the activty and progress towards specific outputs and outcomes. The system allows the follow-up of non-reporting and the production of monitoring reports as required and as requested by trustees. Larger grants are reviewed throughout the grant period to track progress against the original purpose and outcomes. A random number of funded organisations is selected by the trustees to visit and review during the year. Monitoring reports and case studies are featured on the London Catalyst website and included in quarterly reports for our trustees and members. Joint work with other grant makers requires a balanced approach that recognises the distinct nature of each funder and avoids burdening grantees with Unne￿SSary reporting. As part of our commitment to collaboration with other funders, London Catalyst offers to lead, if required, the administration and reporting of the collaborative programmes on behalf of our partners. FUTURE PRIORITIES The charity's priorities for the coming year, as discussed and agreed in board meetings and strategic review awayday, include: en and Trustin Grantmaker. We are fully committed to realising the eight principles of being an Open and Trusting grantmaker, namely: notwasting time, asking relevant questions, accepting risks. acting with urgency. being open, being flexible. communicating with purpose, and being proportionate. We will pursue our joumey to be a grantmaker that cares, creates relationships. and enables grantees to thrive. 12

London Catalyst Report and Accounts 2024 TRUSTEES REPORT (CONTINUED) Im rovin our rantmakin We will continue to monitor our grantmaking processes and practices, ensuring that they are aligned with our vision and mission statement and our funding priorities. Sociall Res onsible Investment We will continue investing in companies that are committed to a socially responsible approach without affecting Ihe overall performance of our fund. STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees are responsible for preparing the Annual Report and Ihe financial statements in accordan￿ with the Companies Act 2006 and for being satisfied that the financial statements give a true and fair view. The trustees are also responsible for preparing the financial statements in accordance with United Kingdom Accounting Standards (United Kingdom Generally AC￿pted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements. the trustees are required to: Select suitable accounting policies and then apply them consistently. Observe the methods and principles in the Accounting and Reporting by Charities Statement of Recommended practi￿ {'SORP'). Make judgments and estimates that are reasonable and prudent. State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. Prepare the financial statements on the going-concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records Ihat show and explain the charity's transactions, disclose with reasonable accuracy at any time the financial position of the charity, and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Financial statements are published on the charity's website in accordance with legislation in the United Kingdom goveming the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the charity's website are the responsibility of the trustees. The trustees, responsibility also extends to the ongoing integrity of the financial statements contained therein. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102). In preparing this report, the directors have taken advantage of Ihe small company exemptions in Part 15 of the Companies Act 2006. STATEMENT AS TO DISCLOSURES OF INFORMATION TO AUDITORS The trustees in office at the date of the report have confirmed, as far as they are aware, that there is no relevant audit infomiation of which the Auditors are unaware. Each of the trustees has confirmed that they have taken all the steps that they ought to have taken as trustees in order to make themselves awa￿ of any relevant audit infom)ation and to establish that it has been communicated to the auditor. 13

London Catalyst Report and Accounts 2024 TRUSTEES REPORT (CONTINUED) FINANCIAL REVIEW 2024 RESULTS The value of the charity's investments at the year*nd was £15.762,713 (2023: £14,603.503), which represents an increase of £1.159,210 over the year after cash withdrawals. Grantmaking for 2024 was £318.741 (2023: £327,188). There was a deficit of £201.966 (2023: £137,784} between the income of£278.790 (2023: £339,565) and expenditure of £480,756 (2023: £477,349) in the year. The main reason for this deficit is a shortfall of investment income (interest and dividends) compared to wtthdrawals, which the charity uses to pay for grantmaking and administrative costs. The annual operating costs for 2024 were £116,756 (2023. £109.286). RESERVES POLICY The year-end balance sheet total funds were £15.734,633 (2023.. £14,633.958). During the year, the reseNes policy was reviewed by the Finance Committee. All funds are available for the general purposes of the charity. The charity's net assets constitute unapplied and unrestricted free reserves. It is the trustees, no￿al policy to make grant commitments for one year, but multi-year funding will be implemented from 2025. The target cash reserve is 20/0 of the asset value of the portfolio to ensure seamless operation and grantmaking. INVESTMENT MANAGEMENT The level of grants that can be made is dependent upon the retum that can be generated from the charity's assets, which are mostly held in an investment portfolio. The trustees engage Stanhope Consulting, a division of Stanhope Capital LLP, in an investment advisory capacity. The Stanhope advisers attend the quarterly Finan￿ Committee, at which they present their financial review, discuss the market conditions, performance of the portfolio, and the investment strategy. INVESTMENT POLICY The charity aims to maintain or grow the real value of the investment portfolio responsibly over the long term (g￿ater than 10 years) and to support an annual drawdown of 3.250h of the portfolio per annum (averaged over a rolling >year period) for grant distributions and operating expenses. The trustees intend to invest with reasonable care and skill to meet the aims of the charity and achieve a balance between capital growth and income. The Finance Committee reviewed the investment portfolio during the year and. following advice from Stanhope, changed its holdings in certain stocks whilst maintaining a core investment in passive vehicles at 53 % (580/0 excluding cash and property). There were no changes to the strategic asset allocation (SAA) over the year. The purpose of the SA4 is to achieve the portfolio's retum objectives with no more risk to capital than is necessary within the constraints placed on the portfolio by rts time horizon, liquidity needs, and income requirements. 14

London Catalyst Report and Accounts 2024 TRUSTEES REPORT (CONTINUED) The investment parameters are shown in the following table. ALLOCATION AT 31 DEC 2024 STRATEGIC ASSET ALLOCATION ASSET CLASS RANGE BENCHMARK INDICES Cash Government bonds Index linked bonds Corporate bonds Overseas bonds Total bonds UK equities Overseas equib'es Total equlties Property Absolute retum Commodities Total alternatives Total 0-15 0-20 0-20 0-20 0-10 10-30 20-50 20-50 55-85 5-15 (>10 (k10 5-20 Sterting 3-month LIBOR FTSE All Stocks All Gilts FfsE All Stocks Index Linked Merrill Lynch Sterling Corporate Bonds JPMorgan Global Government Bonds 15 20 50 70 10 25.3 FTSE All Share MSCI AC World ex UK 79.8 MSCI UK Monthly Propety Index RPI +2.5°A p. Rogers International Commodity 11.4 100 13 100 At the year-end the portfolio lagged the benchmark by 2.3 %. This is largely due to the poor relative performance of the active global equrty funds. This was partly offset by the positive impact of asset allocation, in particular the overweight exposure to global equities and underweight positions in bonds, cash, and property. Over the year, the portfolio has produced return of 10.80/0 (2023: 90/0) SOCIALLY RESPONSIBLE INVESTMENT The trustees, in adopting a Socially Responsible Investment position, acknowledge their duty to maximise investment returns for the charity whilst adhering to the Principles for Responsible Investing {PRI) standards. The underlying managers within the portfolio are expected to consider best practice when assessing any individual investment. To this end, it is agreed, insofar as it is possible, lo encourage investment in companies that behave in a socially responsible fashion without adversely affecting the overall performance of the fund. During the year, the finan￿ committee led a discussion with all trustees to agree on an investment framework that assures the investments held by London Catalyst are consistent with its charitable purposes. With regard to our objects as set-out in our Memorandum of Association, which reference the relief of poverty. sickness, disability and infirmity, the Trustees agreed to place upper bounds on investments made in companies engaged in alcohol and gambling (each of which are not to ex￿ed 1 Oh of total invested assets). and a Ook investment target in tobacco companies. where such a target is practicable to implement. This new framework was agreed and implemented over the course of 2024. HOSPITAL SUNDAY APPEAL AND FUNDRAISING The Hospital Sunday Appeal is an integral part of the charity's history. A target of £15,000 is set each year for the Appeal, which is maintained to promote the charity's work to a wider audience and raise additional funds for grantmaking. All proceeds are added to the allocation for the following yearfs Hardship grants. The charity does not employ commercial fundraisers and relies on the charily's staff for its fundraising. The charity is registered with the Fundraising Regulator, and no complaints regarding our fundraising activity were received during the year. Vhile the charity's main source of income is derived from its investment portfolio, it continues to receive generous support from individuals, companies, places of worship, and charitable 15

London Catalyst Report and Accounts 2024 TRUSTEES REPORT (CONTINUED) trusts. In 2024, the charity raised £12.861 (2023: £18,797) in donations for its annual appeal from individuals and from faith, business and charitable institutions. We also received £4.000 from a private donor, distributed under an agency arrangement. The Director made recommendations to the donor, and grants were agreed to assist four community organisations with poverty relief inrtiatives. The Board welcomes donations from individuals. trusts. and corporations that increase funds available to beneficiaries. The trustees would like to record their sincere thanks to all who contributed to the Appeal and all our other valued partners. A list of institutional donors is shown at the end of the report and accounts. By Order of the Board Dr Naureen Bhattr Chair Date: 2025 16

London Catalyst Report and Accounts 2024 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LONDON CATALYST Opinion We have audited the financial statements of London Catalyst (the 'charitable ￿rnpanY') for the year ended 31 December 2024, which comprise the statement of financial activities. the balance sheet, the principal accounting policies and the notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard appSicable in the UK and Republic of Ireland. (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: + give a true and fair view of the state of the charitable company's affairs as at 31 December 2024 and of its income and expenditure for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice: and • have been prepared in accordance with the requirements of the Companies Act 2006. Basls for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statemenls in the UK, including the FRC'S Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concem In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparatj'on of the financial statements is appropriate. Based on the work we have perfomled, we have not identified any material uncertainties relating to events or conditions that. individually or collectively. may cast significant doubt on the charitable company's ability to continue as a going concem for a period of at least iwefve months from when the financial ststements are authorised for issue. Our responsibilities and the resFM)nsibilities of the trustees with respect to going concem are described in ihe relevant sections of this report. Other Infomiation The other information comprises the information included in the annual report. including the trustees, report, other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and. ex￿pt to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion the￿On. In connection with our audit of the financial statements. our resp)nsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other 17

London Catalyst Report and Accounts 2024 INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF LONDON CATALYST (continued) information. If, based on the work we have perfomied. we conclude that there is a material misstatement of this other informats'on. we are required to report that facL We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: • the information given in the trustees, report. which is also the directors, report for the purposes of company law for the financial year for which the financial statements are prepared is consistent with the financial statements: and • the trustees, report, which is also the d￿￿tOrs. report for the purposes of company law, has been prepared in accordance wth applicable legal requirements. Matters on which we are required to report by exceptlon In the light of the knowledge and understanding of the charrtable company and its environment obtained in the course of the audit, we have not identified material misststements in the trustees. report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kepc or returns adequate for our audit have not been received from branches not visited by us: or • the financial statements are not in agreement with the accounting records and retums: or • certain disclosures of trustees. ￿MuneratiOn specified by law are not made; or • we have not received all the inf0m￿tiOn and explanats'ons we require for our audit; or + the trustees We￿ not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the trustees, port and from the requi￿rnent to prepare a strategic ￿pOrt. Responslbilities of trustees As explained more fully in the trustees, responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the p￿paratIOn of the financial statements and for being sab'sfied that they grve a true and fair view, and for such intemal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concem, disclosing, as applicable, matters related to going concern and using the going concem basis of accounb.ng unless the trustees either intend to liquidate the charitable company or to cease operations. or have no realistic altemative but to do so. 18

London Catalyst Report and Accounts 2024 INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF LONDON CATALYST (continued) Auditorfs responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assuran￿. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misststement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users tsken on the basis of these financial statements. Irregularities. including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outtined above, to detect material misstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. Our approach to ider)tifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations. was as follows: • the engagement partner enSU￿d that the engagement team collectively had the appropriate competence, capabilits'es and skills to identify or recognise non-compliance with applicable laws and regulalions; and + we obtained an understanding of the legal and regulatory frameworks that are applicable to the charitable company and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework (Statement of Recommended Practs'ce: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charitses Act 2011). We assessed the susceptibility of the charity's financial statements to material rnisstatement, including obtaining an understanding of how fraud might occur. by: making enquiries of management as to their knowledge of actual, suspected and alleged fraud., and + considering the internal controls in place to mitigate risks of fraud and non<ompliance with laws and regulations. To address the risk of fraud through management bias and override of controls. we: + performed anatytical procedures to identify any unusual or unexpected ielationships: • tested journal entries to Klentify unusual transactions; and + assessed whether judgements and assumptions made in detemiining the accounting estimate were indicative of potential bias. 19

London Catalyst Report and Accounts 2024 INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF LONDON CATALYST (continued) In response to the risk of irregularrties and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: + review of the minutes of meetings of those charged with govemance., and • enquiring of management as to actual and potential lib'gation and claims. The￿ are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non- compliance. Auditing stsndards also limit the audtt procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further descripkn'on of our responsibilities is available on the Financial Reporting Council's website at v(ww.frc.org.uklauditorsresponsibilities. This descripts'on fonns part of our auditor's report. Use of our report This report is made solely to the charitable company's members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body. for our audit work, for this report, or for the opinions we have formed. LL fi Alison Pyle (Senior Statutory Auditor) For and on behalf of Buzzacott Audtt LLP, Statutory Audrtor 130 Wood Street London EC2V6DL Date.. 2 September 2025 20

London Catalyst Report and Accounts 2024 STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING AN INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES) YEAR ENDED 31 DECEMBER 2024 2024 Total Funds 2023 Total Funds Notes Income and expendlture Income Donations Investment Income Sundry Income Interest Receivable 12.861 265.875 18,797 316,861 3,829 78 Total Income 278.790 339 $65 Expendlture Costs of Raising Funds Fundraising Costs Inveslrnent Management Costs (4.400) {40.859) (4,259) (36,616) Expendlture on Charitsble Actlvities 4.5.7 (435,497) (436.474) Totsl Expendlture 480,756 477,349 Net Expenditure beforo Investment gainl(loss) (201.966) {137,784) Gainl(loss) on investrnents 1302,641 728914 Net Incomel{expendilure) and Net Movement in funds for the Year 1.100,675 591,130 Reconciliation of Funds: Balances brought foThvard at 1 January 14.633,958 14,042,828 Balances carrfed foThrard at 31 December 12.13 15734633 14 633 958 All amounts relate to unrestricted furKls in b)th financial years. All recognised gains and losses arisirKJ in the year are included in the above Statement of Financial Activities. All amounts relate to continued activittes. The notes on pages 22 to 30 fonn part of these financial statements. 21

London Catalyst Report and Accounts 2024 BALANCE SHEET AS AT 31 DECEMBER 2024 Registered Company No. 03460296 Notes 2024 2023 INVESTMENTS Fund investments 15.762.713 14,603,503 TOTAL FIXED ASSETS 15,762,713 14,603,503 CURRENT ASSETS Debtors Cash at Bank 10 15.372 2,109 17N81 42,203 15,475 57,678 CURRENT LIABILITIES Creditors due within one year (45,561) (27,223) NET CURRENT {LIABILITIES)I ASSETS (28,080) 30,455 TOTAL ASSETS LESS CURRENT LIABILITIES 15,734,633 14,633,958 Represented By: Unrestricted Funds 12, 13 15.734,633 14,633.958 TOTAL FUNDS 12, 13 15,734,633 14,633,958 The financial statements were approved and authorised for issue by the Board and were signed on its behalf on 025. Dr Naureen Bhatti- Chair of the Board Nick Durack Chair of the Finance Committee Date:

London Catalyst Report and Accounts 2024 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2024 1. ACCOUNTING POLICIES The following are the main accountin9 policies adopted by the charity: Basls of accounting The financial statements have been prepared for the year ended 31 December 2024 and the C4Thparative for the year ended 31 December 2023. The financial ststemenls have been prepared under the historical cost convention as modified by the revaluation of Alinveslments and in accordance with the Companies Act 2(￿. In addition. the accounts have been drawn up in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Finan¢ial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS102) (Charities SORP FRS102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charites Act 2011. The charity constitutes a public benefft entity as defined by FRS102. The accounts are presented in sterling and are rounded to the nearest pound. Critlcal accounting estimates and areas of judgement There are no items in the financial statements that require the trustees arKI manageff￿nt lo make significanl judgements or estimates. Assessment of golng concern The trustees have assessed whether the use of the going c<)ncem assumption is appropriate in preparing these financial statements. The trustees have made this assessrnenl in respect to a period of one year from the date of approval of these financial slalements. The twstees of the charity have concluded that there are no material uncertainties related to events or ¢onditions that may cast significant d¢Jubt on Ihe abilty of the charity to continue as a going concem. The trustees are of the opinion that the charity will have sufficient resources to meet ils lia￿lItieS as they fall due. V4fjth regard to the next accounting period. the year ended 31 D￿rnber 2025, the mosl significanl areas that affect Ihe carryin9 value of the assets held by the charity are the level ol investment retum and the perfomlance of the investment markets (see the investment policy and the risk management sections of the trustees. report for more information). Income recognition Income is recognised in the period in which the charity has entitlement to the income. the amount of income can be measured reliably, and it is wobable that the income will be received. Income comprises dona￿n$ and investment income. Donations are recognised when Ihe charity has confimation of both the amount and the settlement date. In the event of donations pledged bul not received. the amount is aCcn￿d for where the receipt is considered probable. In accordance with the Chariknes SORP FRS102, volunteer time is Mt recognised. Dividends are recognised once Ihe dividend has been declared and notification has been received of the dividend due. Interest on fvnds held on deposit is induded when receivable and the amount can be measured reliably by the charity: this is nomially upon notifution of the interest paid or payable by the bank. 23

London Catalyst Report and Accounts 2024 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Expenditure recognitlon Liabilities are recognised as experKliture as S¢)on as there is a legal or constructNe obligation committing the charity to make a payment to a third party. it is probable that a transfer of economic benefits will be required in settlement. and the amounl of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. Expendriure comprises direct costs and support costs. All expenses. including support costs. are all(Kated orappor￿ned to the applicable expenditure headings. The classification between activities is as follows: Expenditure on raising funds includes all expenditure associated wtth raising funds for the charity. This includes investment management fees and an apportionment of5 /• ofstsff costs as being the amount directly attributable to raising funds. Expendilure on tharitable activities indudes all costs associated with furthering the charitable purposes of the charty through the provision of its charitable acliviti'es. Such costs include tharitable grants and donations, and support costs, induding govemance costs. Charitable grants and donations comprise single•year payments rather than mulli-year grants. Grants and donations are included in the statement of financial adivities when approved for payment. Grants approved but not paid at the end of the financial year are accrued. All expenditure is stated indusive of irrecoverable VAT. Allocation of support and governan¢e costs Support costs represent indirect charitable expenditu￿. In order to carry out the primary purposes of the charity, it is necessary io provide support in the fomi of personnel development. financial procedures. provision of Offi￿ services and equipment. and a suitable working environment. Governance costs comprise the costs involving the public accountabilty of the d)arity (induding audit ¢osts) and costs in respect to tts compliance V￿th ￿gulation and good practice. Support costs and govemance costs. exduding staff-related costs. are alltxated to the sole ¢haritable activty. Staff- relaled costs are allocated in accordance with the time spent on each activity. Fund accounting Unrestricted funds are those funds which are available for use at the discretion of the tnjstees, in fijrtherance of the general objectives of the charity, and which have not been designated for other purposes. Restricted fvnds are funds that are to be used in accordance with specific restridions imposed by donors or that have been raised by the charity for particular purposes. The cost of raising and administering such funds is charged against the specific fund. Fixed asset investments Listed investments are a form of basic financial instrument and are initially reccNJnised at their transaction value and subsequently measured at thwr fair value as at the balan￿ sheet date using the dosing quoted market price. Realised gains (or losses) on investrnent assets are Ca1￿lated as difference belween disposal proGeeds and their opening carrying value or their purchase value rf acquired subsequent to the first day of the finanaal year. Unrealised gains and losses are calculated as the d[ffe￿n￿ belween the fair value at the year end and their carying value al that date. Realised and un￿aliSed investment gains (or losses) are combined in the statemenl of financial activities and are credited (or debited) in the year in which they arise. 24

London Catalyst Report and Accounts 2024 NOTES TO THE FINAFICIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Debtors Debtors are recognised at their settlement amount. less any provision for non-recoverability. Prepayments are valued al the amount prepaid. They have been discounted to the present value of the fulure cash re￿Ipl where such discounting is material. Cash at bank and In hand Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the dale of acquisition. Depostts for n￿re than three months but less than one year have been disclosed as short-term deposits. Cash placed on deposit for more than one year is disclosed as a f￿ed asset investment. Credltors and provisions Creditors and provisions a￿ re¢ognised when there is an obligation at the balance sheet date as a result of a past event, il is probable that a transfer of economic benefit will be required in settlement. and the amount of the settlement can be estimated reliably. Creditors and prowsions are recognised at the amount the charity anticipates il will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material. Penslons The charity contributes a defined contribution to the per%)nal pension plans of its Iwo employees. Contributions are Charged on the statement of financial adivities when they are payable to the schemes The charty's contribulions are restricted to the contriiwtions disdosed in note 5. There were no outstanding contributions at the year-end. The charity has no liability beyond making its contributions and paying the deductions forthe employees, contributions. Taxation London Catslysl is a registered charity and. therefore. is nol liable to income tax or corporation tax on income on gains derived from its ¢harilable adivities, as they fall within the vari(￿$ exemptions available to registered charities. Statement of cash flows The financial statements do not indude a statemenl of cash flows because the charity is considered a small charity and is therefore exempt from Ihe requirement to prepare such a statement urKler the Charities SORP FRS102. Agency arrangements The charity has acted as an agent in distributing grants on behalf of private donors. Payments received from the donor and subsequent disbursements to grant recipients have been excluded from the statement of finartial activities as the charity does not have control over the charitable applicatr'on of the funds. The funds received and disbursed. and any balan￿S held. are disclosed in note 15. 25

London Catalyst Report and Accounts 2024 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2. DONATIONS 2024 2023 Donations including deeds of covenant & Gift Aid 12,861 18.797 12,861 18,797 3. INVESTMENT INCOME 2024 2023 Dividends on UKForeign pooled funds Interest Receivable 265.875 316,861 78 265,929 316,939 4. TOTAL EXPENDITURE 2024 2023 STAFF COSTS OTHER TOTAL TOTAL Costs of ralslng funds Fundraising Costs (5% of Salaries) Investment Management costs Charitable activitie8 (Note 6) 4,400 4,259 40,859 40.859 36,616 Grant making (note 8) Support costs (note 5) 318,741 318,741 327,188 83.603 33.153 116,756 109,286 Total Expenditure 88,003 392.753 480.756 477,349 Peabody charged £12.528 (2023.. £11.932) for the provision of office and administration seTrices specffied under a Management Agreement. 26

London Catalyst Report and Accounts 2024 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 5. SUPPORT COSTS 2024 2023 Wages and salaries (95°A) Management fees Insurance 80.907 12,528 11.932 856 798 Sundry expenses and other expenses Auditorfs remuneration (note 7) 7.169 6,109 12.6CKI 9,540 116,756 109,286 6. Staff Costs and Remunerallon of Key Management Personnel: 2024 2023 Wages and salaries Social security costs Pension 77.236 74,989 2,985 7.724 88.003 7.190 85,164 Employees eaming £60.(KX)- £70,(K)O is one {2023: one). The key management personnel ofthe chanty in charge ofdirecting and controlling. funning and operating the charity on a day-to-day basis comprise the trustees and the Director. The total remuneration (induding taxable benefits bul exduding the employerfs pension contribulions) of the key management petsonnel for the year was £72,698 {2023'. £72,590). None of the trustees of the charity were remunerated durin9 2024 {2023: £nil). and no trustees were reimbutsed for expenses incurred during 2024 (2023: £nil). The total number of employees for the year 2024 was 2. full-time equivalent (FTE) 1.4 (2023.. 2, FTE 1.4). The average number of employees. expressed as a full-time equivalenl. analysed by tunction. was: 2024 2023 No. Support Staff 7. GOVERNANCE COSTS 2024 2023 Current year audit fees Total 12.6C 9,540 12,600 9,540 27

London Catalyst Report and Accounts 2024 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 GRANTS 2024 2023 Institutional 320,941 (2.200) 318.741 (114 grants) 327.188 Prior year grants withdrawnlretumed 327,188 (157 grants) Grants withdrawnlretumed ￿￿esent unulilised prior year grants retumed of £2.200 (2023: £0). See pages 31 to 34 for the anatysis of grants made in the year. 9. FUND INVESTMENTS 2024 2023 Ll8ted investments Market value at 1 January Additions 14,513,602 13,778,420 1.902.389 2,521,502 Disposals Realised gains Unrealised gains Market value at 31 December (1.977.911) 67,309 (2.515,2341 3,579 1.235,332 725,335 15.740.721 14,513,602 Cash deposits held for investment Total Investments at 31 December 21,992 89,901 15,762.713 14,603,503 Historical cost at 31 December (including deposits) 12.577.448 12,420,513 The charity engages Stanhope for investmenl advice and invests in pooled funds from which investment managers, fees are deducted before the markel value is established. Consequently, the valuation of investments is net of investment managers. fees, any third-party managed fijnds. and custody fees. total: £40.859 (2023: £36.054). 28

London Catalyst Report and Accounts 2024 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 9. FUND INVESTMENTS (Contin{￿d) Investments. including cash deposits. are held in the following geographical areas- 2024 2023 UK & Ireland 9.985.917 7,251,583 Europe (Ex UK) North Ameri¢a 561,557 563,932 320.055 298,326 Pacific 622.380 Global 3.976.228 5.627,998 Intemalional 254,861 15,762,713 239,284 14,603,503 Materlal Investments Included within the investments held at the yearnd are the folltrin9 investments. which individually comprise more than 5./0 of the total market value of nonwcash investments. Ishare$111 PLC- th MSCI World ETF 2.637.085 1.773,683 Vanguard Funds PLC-S&P 5Q) UCITS 1.854.025 1,476.987 Artemis InGome Exclusions Dis 1.512.880 Fundsmith LLP 1.476,174 1,365,392 Charities Prop Propety Fund 1.108.498 1,102,466 UBS (1RL) PLC- ETF MSC1 UK IMI SOC 884.601 832,555 Vanguards Funds PLC-FTSE 250 UCITS ETF 875.679 839,390 Evenlode Iny Mgt Ltd 1.431,648 10. DEBTORS 2024 2023 Accrued Income 15.372 42,203 15.372 42,203 29

London Catalyst Report and Accounts 2024 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. CREDITORS DUE WITHIN ONE YEAR 2024 2023 Accruals for grants payable Taxation and social security Trade creditors 6,000 2.592 2.238 18.985 45,561 27,223 12. UNRESTRICTED FUNDS 2024 2023 Balance at 1 January Net expenditure in the year Gains on investment assets 14,633,958 14,042,828 (201.966) 1.302,641 (137,784) 728,914 Balance at 31 December 15,734,633 14,633,958 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 2023 FIXED ASSETS NET CURRENT UABIUTIES TOTAL TOTAL Unrestricted funds 15.762.713 128.080) 15.734.633 14.633.958 15.762.713 128.080) 15,734,633 14,633,958 The totsl unrealised gains a5 at 31 December 2024 constitute movements on revaluation and are as fdlows: 2024 Unrealised gains included above on investments 3 185,265 Reconciliation of movements in unrealised gains= Unrealised gains at 1 January 2024 Les5.' in respect of disposals in the year Add.. net gain arising from revaluations in the year Total unrealised gains at 31 December 2024 2,182,991 (233.058) 1.235.332 3,185,265 30

London Catalyst Report and Accounts 2024 14. RELATED PARTY TRANSACTIONS Owing to the nature of the charity's operations and the composition of the Board of Trustees being drawn from local public and charitable sector organisations. it is inevitable that transactions will take place with organisations in which a member of the Board of Trustees may have an interest. Mark Palframan is Director of Hackney Doorways, Matt Wilson is the CEO of Spires Centre, and Simon Cuff is the Vicar for St Peter de Beauvoir and Trustee of Migrants Organise. These organisations are all grant recipients. All transactions involving such organisations are conducted at arm's length and in accordan￿ with the charity's financial regulations and normal procurement procedures. Any Trustee who has any interest in a potential grant recipient will withdraw from all related grant discussions. The aggregate amount of donations made by the trustees to the charity in the year was £1,045 (2023.. £1,305) 15. AGENCY ARRANGEMENTS In 2024, the charity received £4,000 (2023: £3.000) to disburse as grants to nominated charities on behalf of private donors. The following pages do not fomi part of the statutory accounts. They are included for illustrative purposes and show the range of grant-making. including those made under agency arrangements, that the charity undertakes during the year. SUMMARY OF ALL GRANTS PAID OR COMMirrED IN 2024 MAIN GRANTS Organisations Purpose Borough Amount £185,438 £6,OlY) Hopeful Futures Empower parents of children with additional needs Provide affordable and accessible rehabilitstion Peer support group for people ex riencin homelessness & addKtion Benefits advice for people wtth a leamin disabili Mentsl health and well-being supp￿1 Nevtham Local Exercise Grou People's Recovery Pro ect Toucan Employment Croydon £3.OC Hackney £S.OC() Southwark £3,ofA) Independent Newham Users Forum Therapeuti Productions Newham £3,0 Production of a film based on the experience of people with mental health roblems Well-being and therapy sessions for refu ees and as lum seekers Yoga for people Y￿th disability Croydon £3.OIXI The Vavengers City of London Harrow Association of Disabled Peo le Champions for Chan Downsyndrome OK Haryow £2,5fY) Boxing Fitness Therapy for people vith e 2 Diabetes Showcasing the talents of people with Down S ndrome Sports and well-being support for newly arrived as um seekers Counselling support to adults with I(￿￿- tem) mental health issues Inter enerational Postcard Excha rt for homeless Housin su rtforre Lambeth £4.5LKI 10 Kingston Upon Thames Wandsv￿rth £1.5(Ki CAFL4S £3,OQ) 12 Talk Su rtlcounselli In Common Standin Tall ires Centre Brent £5.OCKI 13 14 15 Wandsworth London-wide Cro £1,810 £5.OIXI £5.0(M) ees 31

London Catalyst Report and Accounts 2024 16 ANVIL Cooking with English for Refugee Women rt for three thildren's or anisations Debt Advice and Financial Education Tower Hamlets £5.000 17 18 Childhood Trust St Paul's Money Advice Cenlre Corinne Burton Memorial Trust Waltham Forest rant Action The Advocacy Pro ect Citizens of the World London-wide Hamrnersmith & Fulham cty of London £6,000 £5.000 19 Art therapy for can￿r patients £3,586 20 Immigration and weffare advi￿ for rants Improving access to cancer screening for le with leamin disabili Provision of pastoral care and support for refu ees Creab've workshops for people wÉth mental health issues. Art and he￿th activities for those who have expeiienced homelessness and isolation. Housing. deslitution, and adwce for refv ees and mi rants. Weekly stxial hub for the elderfy and those ex riencin isolation. Cancer awareness for people from all ba rounds. Provision of space for activities for le from the LGBTQ+ back round. Communty garden and prornote the benefits of ardenin Mentsl health support for thildren and oun Wnter walks for over 50s Counselling and wellness workshops for women. Access to sport and physical activitses for le with Down s ndrome. Speeth and language therapy for children. Detox facilty for women recovering from addidion. Physiotherapy for children wtlh Down s ndrome. service for homeless Exercise and socials for older people. Waltham Forest £4.990 21 Westminster £5,000 22 Greenwich £4,500 23 Southeast London Arts Netsyork 240 Project Lewisham £5,000 24 Kensington & Chelsea £5.000 25 Hackney Migrant Cenlre Shepherd's Star Hackney £5,000 26 Richmnd Upon Thames Bamet £3,675 27 Somali Bravanese Welfare Association London LGBTQ+ Communi Centre Bold Vision £5,O¢XI 28 London-wide £4,992 29 Le￿sharn £3,992 30 Play for Progress Croydon £5,000 31 32 Wheel Tots Rahab Project Harin London-wide £2,814 £5,000 33 Planet Penguin Ealing £5.000 Growing Hope Kings. Cross Treasures Foundation Downright EX￿lIent Islington £5,O¢XI 35 Redbridge £5,000 Tower Harnlets £4,790 37 38 Firm Foundation Upper Norwood Libra Trust Croydon Refugee Da Centre Li hthouse Refugee Workers Cultural Association Ekota Academy Harrow Lambeth £5,000 £3,879 39 Cooking and socialising for women from emer en as lum accofflm¢xlation. Counsellin and thera for women. Yoga for over 50$ wt)men who suffer from fibrom al Walking sports activities for over 65s and over 50s ￿th disabili Combatting isolation through peer su Creation and development of We're all Valued E ual ' ethos. Croydon £5,000 40 41 Harin Haringey £5.OCK) £4.0 42 Barking & enham Newham £4,950 43 African Heatth Policy Ne￿ork Wave for Change £4,460 Haringey £ 500 32

London Catalyst Report and Accounts 2024 PARTNERS FOR HEALTH Organisation Purpose Borough Amount (£104,758) LC - £52,379 £12.830 (£6,415) The Mason Foundation Vocational opportunits'es for neurixliver enl oun Dance workshops for people who have suffered from brain injury or with neurol ical conditions. Psychological support for families to cope with their loved one's life ourne Pottery dasses for people WFth leami disabili Public health proied for the communi Outdoor well-being activities for oun le with autism. Yoga for adults with leaming disabil. Counsellin for women Well-being arKI drop-in sessions for their membersl lienls Counselling for IFNJse sIn￿glIng with drugs or alcohol and who have ex rienced trauma. Skills training and employment su rt for ex-offenders. Raising awareness on the top￿ of Female Genilal Mutilation Social prescribing gardening programme fof people with mental health issues. Camden CODA Dan￿ Company Wandsworth £11,928 (£5,964) Harrison's Fund Surrey £15.000 (£7.500) Maxabilty Bamet £10.000 (£5,000) St Peter de Beauvour Hackney £10,000 (£5,0(M)) Hackney Play Asso¢ialion Hackney £9,8CM) {£4,900) Maha Devi Yoga Centre Islington £8.400 (£4,200) Henna Asian Women's Grou Paxton Green Time Bank Camden Soulhwarf £4.800 £2.400 £6,0(Xl (£3.000) 10 Rehabil Islington £4.000 (£2,000) Onwards and Upwards Lewisham £4,0(J) (£2,000) 12 Educale not Mutilate London-wide £4.000 (£2,000) 13 Seeds for Growth Tower Hamlets £4,1))0 (£2,000) HARDSHIP GRANTS Organisation Borough Amount £83,100 £2.5CK) £1.000 £1,200 £1,200 £1,100 £2.0(K) £2,OtJ) £1,0 £ 800 £1.OlX) £2,OCKJ £1,OIXI £1.0(K) £2.OCKI £1,OLX) £1,5fXI £1,5 £1,000 £1,OCKI £1,1iX) £1.750 £1.51X) £2,OCM) £2,0(MJ £2.0￿] Camden Traumatic CAB Enfiekl Sl Chris Hos Jewish Women's Aid Cam Simcha Bromle and Cro Birth Com anions and Friends Kin 's Colle e Palliative Care Bromle Bri hter B ins Slreel Stora Hackne OooThva Hol Trini Olive Branch Southwark Adult Mental Health Semces The Manna St Ste hens Refu ees Welcome Hounslow Vine ard Communi Centre SLAM Start Team SLAM PCMHT Southwest London St Geor PRAXIS The Manna Socie Lewisham Refu ee and Mi Revival House Westrninster Roman Catholic Diocesan Trust Cam(Jen Enfiekj Bromle London-wide London-wide Bromle and C don Lond0n-V￿de Merton Lambeth Broml London-wide Hackne Hounslow Southwark ton Hounslow Richmond Southwark Southwark Wandsworth Tower Hamlets Southwark Lewisham Newham Westminster INomen's Aid 10 12 13 14 15 16 17 18 19 20 21 22 23 24 25 e's NHS rant NelN 33

London Catalyst Report and Accounts 2024 26 27 28 29 30 31 St Paul's Mone Advice Centre sola￿ Women's Aid Your Place Posilivel UK Welcare Waltham Forest Refugee Psychological Thera 1st Seplice Harin rant Su Theu r Room MRS Inde endent Livin Barons Court Maa Shanti Hackne Mi rant Centre Health Livin Pro ects Tootin Commun Kitchen Z2K SW London & St George's Mental Health NHS A e UK Lewisham and Southwark rants Or anise Homerton Healthcare NHS Fwndats'on Prison Advice and Care Trust Ramfel Notre Dame Refu ee Centre Action for Refu ees in Lewisham Cro don Refu eeDa Centre Room to Heal The Olive Branch-Ho CNWL NHS Trust Headwa East London Thes ace Mildma Mission The S ires Centre NoThvood Ravenswood Hammersmith & Fulham ton Newhafn£ Hackne Souhwark WaFtham Forest £2,000 £2,000 £1.000 £2,000 £ 700 £2,000 32 33 rt Service Harin Hammersmith & Fulham Hackne Hammer5mith & Fulham Islin ton Hackne Redbrid Wandsworth Lond0n-V￿de Wandsworth £2.000 £2,000 £1,500 £1,500 £1.500 £1,500 £1.500 £1.500 £1,000 £750 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 Lewsham and Southwark Hackne Hackne London-wide Newham London-wide Lewisham Cro don Islin Hounslow Southwark Hackne Kensin ton &Chelsea Tower Hamlets Cro don £2,0 £1.OCrf) £1,500 £1,000 £1.500 £1,500 £1,500 £1.500 £1,500 £1.500 £1.OC £1,500 £1.500 £1.500 Trini Church 55 57 11 £1,500 Other payment Cathedral Church of St Pancras £ 24 NOTE: The figures above include the retumed grants of £500 from The Olive Branch-Holy Trinity Church and the payment of £24 to the Cathedral Church of St Pancras. THE HOSPITAL SUNDAY APPEAL: DONATIONS IN 2024: £12,861 (2023: £18.797) Donor Privy Purse Charity BE Rodmell Trust 300 600 900 Institutions Totsl Individuals (includes public collections). trustees & anonymous Total Donations 11,961 12,861