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2025-12-31-accounts

TRUSTEES’ REPORT AND ANNUAL ACCOUNTS

FOR THE YEAR ENDED

31[ST] DECEMBER 2025

Registered Charity No. 1066739 Registered Company No. 03460296

London Catalyst Report and Accounts 2025

CONTENTS
REPORTS
Reference and administrative information 3 - 4
Trustees’ Annual Report for the year ended 31 December 2025 5 - 15
Independent auditor’s report to the Members of London Catalyst 16 - 19
ACCOUNTS
Statement of financial activities 20
Balance sheet 21
Notes to the financial statements 22 - 31
GRANTS AND DONATIONS
Summary of all grants paid or committed in 2025 32 - 35
The Hospital-Sunday Appeal donations in 2025 35

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London Catalyst Report and Accounts 2025

LONDON CATALYST

(formerly the Metropolitan Hospital Sunday Fund)

45 WESTMINSTER BRIDGE ROAD, LONDON, SE1 7JB

T: 07578742574 E: london.catalyst@peabody.org.uk W: www.londoncatalyst.co.uk

Charity Registration 1066739 Registered Company 03460296 No. No.

PRESIDENT

The Right Hon the Lady 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 Cathedral The Very Reverend, the Dean of Westminster Abbey The Chief Rabbi The Venerable, the Archdeacon of London The Free Churches Moderator

BOARD OF TRUSTEES

Dr Naureen Bhatti – Chair Dela Glevey Danny Daly Fr Simon Cuff (Resigned Dec 2025) Nick Durack Rebecca Rittner Emma Whitby Matthew Wilson Alice Groux Anna Grey Andriy Voshchevskyy (Resigned Mar 2026) Catherine Hill Martha Gusack Limburg (Appointed Mar 2026) Scott Matthews (Appointed June 2026)

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 Ben Fitchew (Joined Mar 2026)

Members are those who, in addition to the Board of Trustees, 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 2025

STAFF & PROFESSIONAL ADVISERS

Executive Director and Rosario Guimba-Stewart Company Secretary Administrator Jessica Stephenson Clarke Principal office 45 Westminster Bridge Road London SE1 7JB Auditors BUZZACOTT AUDIT LLP 130 Wood Street London, EC2V 6DL 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, EC4M 7EG

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London Catalyst Report and Accounts 2025

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

The trustees present their report together with the financial statements of London Catalyst for the year ended 31 December 2025.

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 accordance with the accounting policies on pages 23 to 26 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 accordance 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 poor’ 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 document is its Memorandum and Articles of Association dated 4[th] November 1997. The charity comprises the Board of Trustees, Committees, Membership and Staff as shown on pages 3 to 4. The Board meets four times a year to conduct the formal business of the charity, including recommendations and reports from its sub-committees namely the Grants Scrutiny and Finance. The day-to-day administration of the charity, including the processing of applications before consideration by the Grants Scrutiny Committee, is delegated to the Director of the charity and supported by a part-time Administrator.

PEABODY

In 1995, London Catalyst entered a management agreement with Peabody, benefiting from resources of one of London’s largest social housing providers. Peabody provides meeting space, payroll and other back-office services under the management agreement. This agreement is reviewed every year.

KEY MANAGEMENT

The trustees consider that 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 dayto-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 beginning of the year. This includes a review of the Director’s performance 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.

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TRUSTEES REPORT (CONTINUED)

TRUSTEES

Trustees are appointed by the Board and serve for three years, after which they may be reappointed. A trustee may serve three consecutive terms of office before retiring. The charity is required under its constitution to have two religious and one medical or social work representative on the Board.

Prospective trustees are invited to submit a CV to the Board and to meet with the Director, Chair and trustees. They are provided with information 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 if applicable, the trustee would not participate in the decision.

Given the organisation’s small membership base, we will conduct an annual review of membership at each Annual General Meeting. 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: grant making, management, governance, investment 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: Political and economic instability can significantly influence the performance and reliability of investment portfolios. Geopolitical tensions, regional conflicts, and shifts in international relations often create uncertainty in global markets. This uncertainty can lead to increased market volatility, reduced investor confidence, and fluctuations in asset values. Similarly, economic pressures such as inflation, rising living costs, and slowdowns in global growth can affect corporate performance, interest rates, and overall market stability. When these factors converge, they can contribute to short-term declines in investment value and may limit the funds available for operational activities or grant making. To mitigate this risk, we maintain a long-term investment strategy and base our spending on an average value over time. This approach helps us absorb temporary fluctuations in investment performance whenever they arise.

Loss of key staff: The charity relies on its full-time Director for day-to-day operations. To mitigate the impact of any unplanned absence, the Trustees have established several safeguards, including regular meetings between the Chair and Director, periodic internal audits by a Trustee to review documented processes, and the support of a part-time Administrator. An annual appraisal process and opportunities for professional development further strengthen organisational resilience. In addition, a Salesforce grants management system and regularly updated office control documents help ensure continuity of operations.

Loss of back-office services from Peabody: The charity has a service level agreement (SLA) with Peabody for the provision of back-office support. As this is a commercial arrangement, it may change over time. The SLA is set for two years and reviewed annually. The Director and Trustees oversee all essential functions to ensure that, if required, any termination of services can be managed smoothly. This year, Peabody has confirmed that it will discontinue its

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London Catalyst Report and Accounts 2025

TRUSTEES REPORT (CONTINUED)

accountancy support to London Catalyst. To mitigate this risk, we appointed a qualified accountancy firm to prepare our quarterly management accounts and support the production of our year-end accounts from 2026. We are also in the process of appointing a trustee who is a qualified accountant.

Failure to effectively manage its grant making programme: London Catalyst is a small charity providing grants to organisations that support London residents. Our aim is to fund work that addresses the social determinants of health, including poverty, access to information and advice, and social isolation. Each year, the level of financial support requested by organisations significantly exceeds our available resources. In response, we have introduced newly reviewed and strengthened funding eligibility criteria and priorities, including the option to provide multi-year support for core, unrestricted, or project costs. We closely monitor grant demand and ensure that our limited resources are directed to applicants who best meet our criteria and align with our strategic objectives.

Cybersecurity incident compromising sensitive and/or confidential data: In an environment where most business activities take place online, the risk of cyber fraud or data breaches remains ever-present. To reduce this risk, we use strong passwords and multi-factor authentication across our systems. As our IT support provider, Peabody further strengthens our security by quarantining suspicious messages, keeping software up to date, and maintaining robust firewalls. These combined measures help protect our sensitive and confidential information from potential cyber threats.

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. Our website is regularly updated to provide information on grant making and to offer advice and guidance to applicants. Applications are reviewed by the staff against eligibility criteria before consideration and approval by the Grants Scrutiny Committee.

NETWORKS AND AFFILIATIONS

The charity maintained its participation in grant making sector networks as a member of London Funders and the Association of Charitable Foundations (ACF). It is also registered with the Fundraising Regulator. The London Catalyst Director serves as a trustee for ACF, and chair of Small Funders Network hosted by the London Funders.

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.

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TRUSTEES REPORT (CONTINUED)

MISSION

To enable organisations to improve the health of Londoners by tackling poverty and isolation.

AIMS

OBJECTIVES

To act as a catalyst through a programme of grant making to include:

PUBLIC BENEFIT

London Catalyst makes grants to support the work of charities, community groups, and social enterprises operating in London that are established for public benefit. 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:

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 determinants 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 grant making 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 grant making.

GRANT PROGRAMMES OVERVIEW

During the year, the trustees paid or committed £322,370 in grants to charitable, not-for-profit and community organisations (2024: £318,741).

We received a total number of 457 applications with a requested amount of £3,040,531 for 2025 for our two grant programmes. Of those, 72 applications were successful, they are listed on pages 33-36 of this report. Key points include:

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London Catalyst Report and Accounts 2025

TRUSTEES REPORT (CONTINUED)

MAIN GRANTS

We received 322 applications for this programme (2024: 206) with a total requested amount of £2,763,933 for 2025 (2024: £1,124,735). Of those, 35 applications were successful (2024: 44), totalling £557,673 (over 3 years) and £258,350 for year 2025 (2024: £185,438).

19 successful applications are for multi-year up to 3 years and 16 applications are for 1 year funding. Of the successful applications, 28 are for project costs, 2 for core costs and 5 are for unrestricted costs.

Beneficiaries are mainly homeless or people at risk of homelessness, women, people with learning disabilities, elderly, young people, refugees, asylum seekers, migrants and people from the black, Asian and ethnic minority.

Interventions offered by organisations to their beneficiaries include information, advice and casework, counselling, music and arts therapy, sports and physical activities, employability support, skills training, IT, health sessions and social integration activities.

CASE STUDIES

CARAMEL ROCK - £4,000 to support a one-year fashion training and employability programme for 35 people living in temporary accommodation in Newham.

Caramel Rock is a Newham based charity established in 2010 that supports people experiencing housing instability to access training and employment opportunities within the fashion industry. Through its Fashioning Communities project, the organisation delivered hands on training in garment construction, textile design and fashion business skills alongside mentoring, CV workshops, interview preparation and work placements with fashion brands, including opportunities linked to ASOS and Calvin Klein. The organisation successfully achieved its target of supporting 35 participants to complete the programme, with 30% progressing into employment, work placements or further education. Participants developed industry specific and employability skills, increased confidence and resilience and improved access to professional networks and career opportunities. The project also demonstrated wider wellbeing benefits, with participants reporting greater stability, optimism and clearer pathways towards financial independence. A key learning from delivery was the importance of tailored, flexible support and strong partnership working to address the complex barriers faced by people living in temporary accommodation.

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London Catalyst Report and Accounts 2025

TRUSTEES REPORT (CONTINUED)

SUNBEAMS LONDON - £4,488 to support a 20-week water activities and wellbeing programme for 20 girls aged 11–16 experiencing social isolation and poor mental health in Stamford Hill.

Sunbeams London supports girls and young women from the Charedi community who experience low self-esteem, poor mental health and social isolation. Through its Stronger Bodies, Stronger Minds project, the organisation delivered weekly resilience building sessions on the River Lea combining kayaking, canoeing and paddleboarding whilst building emotional skills and peer support. The programme successfully improved participants’ wellbeing, confidence and social integration, with 94% of girls showing improved emotional wellbeing, 91% reporting increased confidence and perseverance and 93% demonstrating stronger peer relationships through monitoring using the Multi-Dimensional Student Life Satisfaction Scale. Participants developed resilience, communication skills and coping strategies within a safe and supportive environment, while schools and parents reported improvements in confidence, independence and social engagement beyond the sessions. The project also highlighted the value of trauma informed, experiential learning approaches, with girls who were initially anxious or withdrawn becoming active and confident participants over the course of the programme.

HARDSHIP GRANTS

For this programme, we received a total number of 135 applications (2024: 72) with a total requested amount of £276,598 (2024: £131,160). A total of £64,020 (2024: £82,600) from 37 applications was awarded to frontline social work, health, and advice services to distribute to people in acute need. We recognise the rising demand for grants and our constraints in meeting all applications, and we are actively considering how to manage this demand effectively within our limited resources. About 2,500 individuals benefitted from the grants, and the average amount they received is £59/person. Grants were spent on food, travel, hygiene products, SIM cards and mobile top ups and other emergency expenditure.

Hardship grants are an important part of our grant making, reflecting our charitable purpose and providing direct public benefit. Reports from our partner agencies highlight the complex and often desperate circumstances 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 received 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.

THE MANNA - £1,000 hardship grant for homeless and marginalised people accessing a day centre in Islington.

The hardship funding was used to provide emergency support including travel costs, food, mobile phones, personal care items, household essentials for 54 people experiencing homelessness, poverty, poor mental health and isolation. Travel support represented the greatest area of need, including Oyster card top ups for medical appointments and safe overnight bus travel for women when emergency accommodation was unavailable. The funding supported people with ‘no recourse to public funds’ and those waiting for benefits to begin, helping individuals access food, medication and basic essentials. The organisation reported increased demand linked to rising living costs and higher transport charges, with grants often acting as an immediate intervention to stabilise people in crisis whilst connecting them with longer term support.

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London Catalyst Report and Accounts 2025

TRUSTEES REPORT (CONTINUED)

LIKEWISE - £2,000 hardship grant for highly marginalised people experiencing financial hardship and poor mental health in Camden.

This was their first application to the hardship fund. The funding was used to meet urgent day to day needs including household essentials, personal care food, travel, mobile phone top up, helping individuals who are largely reliant on Universal Credit and facing multiple vulnerabilities. The support had immediate practical impact, including enabling one individual with significant health challenges to gain independence through essential kitchen equipment, improving nutrition and overall wellbeing. The organisation reported that small, flexible grants made a significant difference in stabilising people in crisis and reducing immediate pressures, allowing clients to better engage with wider emotional and practical support services that are available to them.

PERFORMANCE MONITORING

London Catalyst has an online grants management system for applications and monitoring reports. This provides a seamless submission, grant making, and reporting process. Reports are requested from all grant recipients after 12 months, and these describe the activity 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.

ONGOING PRIORITIES

The charity’s priorities for the coming year, as discussed and agreed in board meetings and strategic review awayday, include:

Open and Trusting grant maker: We are fully committed to realising the eight principles of being an Open and Trusting grant maker, namely: not wasting time, asking relevant questions, accepting risks, acting with urgency, being open, being flexible, communicating with purpose, and being proportionate. We will pursue our journey to be a grant maker that cares, creates relationships, and enables grantees to thrive.

Improving our grant making: We will continue to monitor our grant making processes and practices, ensuring that they are aligned with our vision and mission statement and our funding priorities.

Socially Responsible Investment – We will closely monitor our investment, and we will continue investing in companies that are committed to a socially responsible approach without affecting the overall performance of our fund.

Partnerships and Networking – We will invest significant time in developing partnerships and networks to help us maximise our resources, improve our operation and create a more positive impact in addressing the needs of Londoners.

Strategic Awayday – We recognise the importance of a yearly gathering to help us examine the wider funding sector, assess our work and align our strategies and priorities to enable us to create a more positive and sustainable impact for London residents.

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London Catalyst Report and Accounts 2025

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees are responsible for preparing the Annual Report and the financial statements in accordance 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 Accepted 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:

The trustees are responsible for keeping proper accounting records that 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 governing 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 accordance 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 the 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 information 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 aware of any relevant audit information and to establish that it has been communicated to the auditor.

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London Catalyst Report and Accounts 2025

TRUSTEES REPORT (CONTINUED)

FINANCIAL REVIEW

2025 RESULTS

The value of the charity’s investments at the year-end was £16,944,296 (2024: £15,762,713), which represents an increase of £1,181,583 over the year after cash withdrawals. Grant making for 2025 was £322,370 (2024: £318,741).

There was a deficit of £85,475 (2024: £201,966) between the income of £400,566 (2024: £278,790) and expenditure of £486,041 (2024: £480,756) in the year. The main reason for this deficit is a shortfall of investment income (interest and dividends) compared to withdrawals, which the charity uses to pay for grant making and administrative costs.

The annual operating costs for 2025 were £121,066 (2024: £116,756).

RESERVES POLICY

The year-end balance sheet total funds were £16,931,237 (2024: £15,734,633). During the year, the reserves 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’ normal policy to make grant commitments from one up to three years. The target cash reserve is 2% of the asset value of the portfolio to ensure seamless operation and grant making, and this target was met at the year end.

INVESTMENT MANAGEMENT

The level of grants that can be made is dependent upon the return 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 Finance 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 (greater than 10 years) and to support an annual drawdown of 3.25% of the portfolio per annum (averaged over a rolling 3-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 63% (74% excluding cash and property). There were no changes to the strategic asset allocation (SAA) over the year. The purpose of the SAA is to achieve the portfolio’s return objectives with no more risk to capital than is necessary within the constraints placed on the portfolio by its time horizon, liquidity needs, and income requirements. The main changes to the portfolio over the year were a reduction in the equity and absolute return weighting and increase in bonds including a new position in index linked gilts.

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London Catalyst Report and Accounts 2025

TRUSTEES REPORT (CONTINUED)

The investment parameters are shown in the following table.

ALLOCATION STRATEGIC
ASSET AT 31 DEC ASSET RANGE BENCHMARK
CLASS 2025 ALLOCATION INDICES
Cash 8.4 2 0-15 Sterling 3-
month
LIBOR
Government 6.8 7 0-20 FTSE All
bonds Stocks All
Gilts
Index linked 2.8 - 0-20 FTSE All
bonds Stocks Index
Linked
Corporate 8.5 8 0-20 Merrill Lynch
bonds Sterling
Corporate
Bonds
Overseas -- - 0-10 JPMorgan
bonds Global
Government
Bonds
Total bonds 18.1 15 10-30 ---
UK equities 22.2 20 20-50 FTSE All
Share
Overseas 44.7 50 20-50 MSCI AC
equities World ex UK
Total 66.9 70 55-85 ---
equities
Property 6.6 10 5-15 MSCI UK
Monthly
Property
Index
Absolute -- 3 0-10 RPI
+2.5%
return p.a.
Commodities -- - 0-10 Rogers
International
Commodity
Total 6.6 13 5-20 ---
alternatives
Total 100 100 --- ---

At the year-end the portfolio lagged the benchmark by 3.0%. This is largely due to the poor relative performance of the active global equity funds and active and passive UK equity funds. This was partly offset by the positive impact of asset allocation, in particular the overweight exposure to UK equities and underweight positions in absolute return funds and property. Over the year, the portfolio has produced a return of 10.8% (2024: 10.8%) well ahead of the investment target and ARC Steady Growth Charity peer group.

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London Catalyst Report and Accounts 2025

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF LONDON CATALYST

Opinion

We have audited the financial statements of London Catalyst (the ‘charitable company’) for the year ended 31 December 2025, 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 applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis 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 statements 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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, 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 concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, including the trustees’ report, other than the financial statements and our auditor’s 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, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility 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

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF LONDON CATALYST

(continued)

information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

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:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements 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:

Responsibilities 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 preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal 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 concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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London Catalyst Report and Accounts 2025

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF LONDON CATALYST (continued)

Auditor’s 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 auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement 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 taken 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, outlined 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 identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

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London Catalyst Report and Accounts 2025

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF LONDON CATALYST (continued)

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There 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 noncompliance. Auditing standards also limit the audit 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 can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms 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 auditor's 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.

Alison Pyle (Senior Statutory Auditor) For and on behalf of Buzzacott Audit LLP, Statutory Auditor 130 Wood Street London EC2V 6DL

Date: 3 July 2026

19

London Catalyst Report and Accounts 2025

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING AN INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES)

YEAR ENDED 31 DECEMBER 2025

Notes
Income and expenditure
Income
Donations
2
Investment Income
3
Interest Receivable
3
Total income
Expenditure
Costs of Raising Funds
Fundraising Costs
4
Investment Management Costs
4
Expenditure on Charitable Activities
4,5,7
Total Expenditure
4
Net Expenditure before investment gains
Gain on investments
9
Net Income and Net Movement in funds for the Year
Reconciliation of Funds:
Balances brought forward at
1 January
Balances carried forward at
31 December
13,14		 2025
Total
Funds
2024
Total
Funds
£
£
5,147
12,861
395,352
265,875
67
54
400,566
278,790
(4,157)
(4,400)
(38,448)
(40,859)
(443,436)
(435,497)
(486,041)
(480,756)
(85,475)
(201,966)
1,282,079
1,302,641
1,196,604
1,100,675
15,734,633
14,633,958
16,931,237
15,734,633

All amounts relate to unrestricted funds in both financial years.

All recognised gains and losses arising in the year are included in the above Statement of Financial Activities.

All amounts relate to continued activities.

The notes on pages 27 to 32 form part of these financial statements.

20

London Catalyst Report and Accounts 2025

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

1. ACCOUNTING POLICIES

The following are the main accounting policies adopted by the charity:

Basis of accounting

The financial statements have been prepared for the year ended 31 December 2025 and the comparative for the year ended 31 December 2024.

The financial statements have been prepared under the historical cost convention as modified by the revaluation of all investments and in accordance with the Companies Act 2006. In addition, the accounts have been drawn up in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial 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 Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS102. The accounts are presented in sterling and are rounded to the nearest pound.

Critical accounting estimates and areas of judgement

The preparation of these financial statements requires the trustees to make judgements and estimates that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenditure.

The most significant judgements made by the trustees relate to:

• Grant commitments . Determining whether multi-year grant awards give rise to a legal or constructive obligation at the reporting date, and therefore whether a liability should be recognised or the commitment disclosed only. This assessment considers whether future payments are subject to conditions that give the charity genuine discretion to withdraw funding.

Assessment of going concern

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The trustees have made this assessment in respect to a period of one year from the date of approval of these financial statements.

The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due. With regard to the next accounting period, the year ended 31 December 2026, the most significant areas that affect the carrying value of the assets held by the charity are the level of investment return and the performance 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 probable that the income will be received.

Income comprises donations and investment income.

22

London Catalyst Report and Accounts 2025

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

Income recognition (Continued)

Donations are recognised when the charity has confirmation of both the amount and the settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable.

In accordance with the Charities SORP FRS102, volunteer time is not recognised.

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive 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 amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. Expenditure comprises direct costs and support costs. All expenses, including support costs, are allocated or apportioned to the applicable expenditure headings. The classification between activities is as follows:

Charitable grants and donations (single-year and multi-year)

Single-year grants are recognised as expenditure when the grant offer is approved and communicated to the recipient. Grants approved but unpaid at the reporting date are accrued.

Multi-year grants are recognised as follows:

Grant commitments that do not meet the criteria for recognition as liabilities are disclosed as commitments in the notes to the financial statements.

All expenditure is stated inclusive of irrecoverable VAT.

23

London Catalyst Report and Accounts 2025

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

Allocation of support and governance costs

Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity, it is necessary to provide support in the form of personnel development, financial procedures, provision of office services and equipment, and a suitable working environment.

Governance costs comprise the costs involving the public accountability of the charity (including audit costs) and costs in respect to its compliance with regulation and good practice. Support costs and governance costs, excluding staff-related costs, are allocated to the sole charitable activity. Staff-related 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 trustees, in furtherance of the general objectives of the charity, and which have not been designated for other purposes. Restricted funds are funds that are to be used in accordance with specific restrictions 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 recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt 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 date of acquisition. Deposits for more 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 fixed asset investment.

Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it 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 provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

24

London Catalyst Report and Accounts 2025

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

Pensions

The charity contributes a defined contribution to the personal pension plans of its two employees. Contributions are charged on the statement of financial activities when they are payable to the schemes.

The charity’s contributions are restricted to the contributions disclosed 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 for the employees’ contributions.

Taxation

London Catalyst is a registered charity and, therefore, is not liable to income tax or corporation tax on income on gains derived from its charitable activities, as they fall within the various exemptions available to registered charities.

Statement of cash flows

The charity is entitled to the exemption from preparing a statement of cash flows under Section 1A of FRS 102, as it qualifies as a small company under the Companies Act 2006.

25

London Catalyst Report and Accounts 2025

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

2. DONATIONS

Donations including deeds of covenant & Gift Aid
3. INVESTMENT INCOME
Dividends on UK/Foreign pooled funds
Interest Receivable
4. TOTAL EXPENDITURE
£
STAFF COSTS
Costs of raising funds
(Note 6)
Fundraising costs (5% of Salaries)
4,157
Investment Management costs
—
Charitable activities
Grant making (note 8)
—
Support costs (note 5)
78,983
Total Expenditure
83,140		 Donations including deeds of covenant & Gift Aid
3. INVESTMENT INCOME
Dividends on UK/Foreign pooled funds
Interest Receivable
4. TOTAL EXPENDITURE
£
STAFF COSTS
Costs of raising funds
(Note 6)
Fundraising costs (5% of Salaries)
4,157
Investment Management costs
—
Charitable activities
Grant making (note 8)
—
Support costs (note 5)
78,983
Total Expenditure
83,140		 2025
£
5,147
5,147
2025
£
395,352
67
395,419
2025
£
£
OTHER
TOTAL
—
4,157
38,448
38,448
322,370
322,370
42,083
121,066		 2024
£
12,861
12,861
2024
£
265,875
54
265,929
2024
£
TOTAL
4,400
40,859
318,741
116,756
83,140 402,901
486,041		 480,756

Peabody charged £9,705 (2024: £12,528) for the provision of office and administration services specified under a Management Agreement.

26

London Catalyst Report and Accounts 2025

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

5. SUPPORT COSTS

.
SUPPORT COSTS
2025
£
Wages and salaries (95%)
78,983
Management fees
9,705
Insurance
902
Sundry expenses and other expenses
13,476
Auditor’s remuneration (note 7)
18,000
121,066
. Staff Costs and Remuneration of Key Management Personnel:
2025
£
Wages and salaries
73,886
Social security costs
1,865
Pension
7,389
83,140		 2024
£
83,603
12,528
856
7,169
12,600
116,756
2024
£
77,236
3,043
7,724
88,003

6. Staff Costs and Remuneration of Key Management Personnel:

Employees earning £60,000 - £70,000 is one (2024: one).

The key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis comprise the trustees and the Director. The total remuneration (including taxable benefits but excluding the employer’s pension contributions) of the key management personnel for the year was £69,496 (2024: £72,698).

None of the trustees of the charity were remunerated during 2025 (2024: £nil), and no trustees were reimbursed for expenses incurred during 2025 (2024: £nil).

The total number of employees for the year 2025 was 2, full-time equivalent (FTE) 1.4 (2024: 2, FTE 1.4). The average number of employees, expressed as a full-time equivalent, analysed by function, was:

Support Staff
7.
GOVERNANCE COSTS
Prior year additional audit fees
Current year audit fees
Total		 2025
No.
1.4
2025
£
5,400
12,600
18,000		 2024
No.
1.4
2024
£
—
12,600
12,600

27

London Catalyst Report and Accounts 2025

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

8. GRANTS

.
GRANTS
Institutional
Prior year grants withdrawn/returned		 2025
£
322,370
—
322,370
(72 grants)		 2024
£
320,941
(2,200)
318,741
(114 grants)

Grants withdrawn/returned represent unutilised prior year grants returned of £nil (2024: £2,200).

See pages 32 to 36 for the analysis of grants made in the year.

9. FUND INVESTMENTS


Listed investments
Market value at 1 January
Additions
Disposals
Realised gains
Unrealised gains
Market value at 31 December
Cash deposits held for investment
Total investments at 31 December
Historical cost at 31 December
(including deposits)		 2025
£
15,740,721
3,384,913
(4,270,328)
68,913
1,213,166
16,137,385
806,911
16,944,296
13,657,166		 2024
£
14,513,602
1,902,389
(1,977,911)
67,309
1,235,332
15,740,721
21,992
15,762,713
12,577,448

The charity engages Stanhope for investment advice and invests in pooled funds from which investment managers’ fees are deducted before the market value is established. Consequently, the valuation of investments is net of investment managers’ fees, any third-party managed funds, and custody fees, total: £38,448 (2024: £40,859).

28

London Catalyst Report and Accounts 2025

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

9. FUND INVESTMENTS (continued)

Investments, including cash deposits, are held in the following geographical areas:

UK & Ireland
Europe (Ex UK)
North America
Pacific
Global
International		 2025
£
7,925,161
678,672
2,216,513
671,701
5,452,249
—
16,944,296		 2024
£
9,985,917
561,557
320,055
664,095
3,976,228
254,861
15,762,713

Material Investments

Included within the investments held at the year-end are the following investments, which individually comprise more than 5% of the total market value of non-cash investments.

Ishares III PLC - Core MSCI World ETF 2,388,498 2,637,085
Vanguard Funds PLC-S&P 500 UCITS 1,902,543 1,854,025
Artemis Income Exclusions Dis 1,768,470 1,512,880
Fundsmith LLP — 1,476,174
Ishares II PLC – Core UK Glts ETF
1,168,595		 —
Charities Prop Property Fund 1,120,189 1,108,498
UBS (1RL) PLC – ETF MSC1 UK IMI SOC 1,042,046 884,601
Vanguards Funds PLC-FTSE 250 UCITS ETF 947,790 875,679

10. DEBTORS

0. DEBTORS
Accrued Income 2025
£
16,375
16,375		 2024
£
15,372
15,372

29

London Catalyst Report and Accounts 2025

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

11. CREDITORS DUE WITHIN ONE YEAR

1. CREDITORS DUE WITHIN ONE YEAR
Accruals for grants payable
Taxation and social security
Trade creditors		 2025
£
65,066
1,296
46,503
112,865		 2024
£
6,960
2,592
36,009
45,561

12. GRANT COMMITMENTS

At 31 December 2025 the charity had the following grant commitments which have been approved, but where payment will only be made in the future if certain conditions are met and trustees decide to proceed. As a result, these amounts have not been recognised as liabilities in the financial statements.

These commitments will form part of grant expenditure in future periods once the relevant conditions are met.

Within one year
Between one year and five years
13.
UNRESTRICTED FUNDS
Balance at 1 January
Net expenditure in the year
Gains on investment assets
Balance at 31 December		 2025
£
154,664
144,659
299,323
2025
£
15,734,633
(85,475)
1,282,079
16,931,237		 2024
£
—
—
—
2024
£
14,633,958
(201,966)
1,302,641
15,734,633

The charity held no restricted funds during the year (2024: £nil).

30

London Catalyst Report and Accounts 2025

14. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted funds 2025
2024
£
£
£
£
INVESTMENTS
NET CURRENT
LIABILITIES
TOTAL
TOTAL
16,944,296
(13,059)
16,931,237
15,734,633
16,944,296
(13,059)
16,931,237
15,734,633
The total unrealised gains as at 31 December 2025 constitute movements on
revaluation and are as follows:
Unrealised gains included above on investments
Reconciliation of movements in unrealised gains:
Unrealised gains at 1 January 2025
Less: in respect of disposals in the year
Add: net gain arising from revaluations in the year
Total unrealised gains at 31 December 2025		 2025
£
3,287,130
3,185,265
(1,111,301)
1,213,166
3,287,130

15. RELATED PARTY TRANSACTIONS

Owing to the nature of the charity’s work and the fact that the Board of Trustees is composed of individuals from local public and charitable sector organisations, it is inevitable that some transactions will involve organisations in which a Trustee has an interest. Any Trustee with a connection to a potential grant recipient will withdraw from all related discussions and decision-making. There were no related party transactions during the year (2024: £nil). The aggregate amount of donations made by the trustees to the charity in the year was £nil (2024: £1,045).

16. AGENCY ARRANGEMENTS

In 2025, the charity received £nil (2024: £4,000) to disburse as grants to nominated charities on behalf of private donors.

17. SUMMARY OF GRANTS

The following pages do not form 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.

31

London Catalyst Report and Accounts 2025

SUMMARY OF ALL GRANTS PAID OR COMMITTED IN 2025

MAIN GRANTS

MAIN GRANTS
Name of
Organisation		 Purpose Borough Total
Grant
Amount		 No of
years		 Year
2025
1 10 Windsor
Walk		 Psychotherapy
support for asylum
seekers & refugees.		 Southwark £10,000 3 £3,334
2 Camden People
First		 Advice & advocacy
for people with
learning disabilities.		 Camden £30,000 3 £10,000
3 Caramel Rock Fashion training &
employability for
people in temporary
accommodation.		 Newham £4,000 1 £4,000
4* Club Soda Social engagement
for people with
learning disabilities.		 Croydon £3,230 1 £3,230
5 Dalmar Heritage
and Family
Development		 Sewing & Upcycling
skills for women.		 Haringey £15,000 3 £5,000
6* Downsyndrome
OK		 Showcase of talents
from people with
learning disabilities.		 Sutton £2,000 1 £2,000
7* Exit Foundation Qualifications &
employment support
for 18-25 years old.		 Redbridge £10,000 1 £10,000
8 Fat Macy’s Hospitality training &
employment support
for young people in
temporary
accommodation.		 Hackney £30,000 3 £10,000
9 Globe
Community
Project		 Well-being and
language support to
refugee, migrant &
asylum seeking
women.		 Tower Hamlets £15,000 3 £5,000
10 Hope for
Southall Street
Homeless		 Advice, casework,
practical & emotional
support to people
sleeping rough.		 Ealing £30,000 3 £10,000
11 Intoart Projects Creative & learning
development
workshops for
people with learning
disabilities.		 Southwark £8,702 1 £8,702
12 Iraqi Community
Association		 Advice, information
& integration support
for the elderly &
women.		 Hammersmith
& Fulham		 £26,188 3 £8,730
13 Island House
Community
Centre		 Mindfulness &
exercise classes to
disadvantaged
people.		 Tower Hamlets £18,000 3 £6,000

32

London Catalyst Report and Accounts 2025

14 Kentish Town
Improvement
Fund		 Creative & arts
workshops for
people with physical
& mental health
problems.		 Camden £10,000 2 £5,000
15* Kingston
Women Centre		 Counselling to
women experiencing
mental health
problems.		 Kingston Upon
Thames		 £8,400 1 £8,400
16 Lee Green Lives Advice, practical &
emotional support
for people
experiencing
hardship.		 Lewisham £30,000 3 £10,000
17 Mindfood Health & well-being
support for pregnant
and new mothers.		 Ealing £27,000 3 £9,000
18* Paddington Law
Centre		 Advice & casework
service to the
community.		 Westminster £10,000 1 £10,000
19 Roj Women’s
Assn		 Advice & Mental
health support to
women survivors of
gender based
violence.		 Haringey £29,172 3 £9,724
20 St Paul’s Money
Advice Centre		 Debt advice &
money education
support to the
community.		 Hammersmith
& Fulham		 £30,000 3 £10,000
21 Street Storage Storage support for
homeless people.		 Islington £30,000 3 £10,000
22 Sunbeams
London Ltd		 Confidence &
resilience support for
young girls
experiencing mental
health problems.		 Hackney £4,488 1 £4,488
23 Sutton Vision Digital connection,
inclusivity & well-
being support to
visually impaired
people.		 Sutton £3,000 1 £3,000
24 Sydenham Arts Inter-generational
arts programme to
empower women
through arts, crafts &
dance.		 Lewisham £10,000 2 £5,000
25 Teen Enterprise
UK		 Mental health
support for young
people through
martial arts training.		 Hackney £4,970 1 £4,970
26 The Deptford
Ragged Trust		 Support for social
engagement and
community activities.		 Lewisham £28,878 3 £9,626
27* The Health
Forum		 Health & well-being
support to women,
Iranian and		 Westminster £7,936 1 £7,936

33

London Catalyst Report and Accounts 2025

Bangladeshi
communities.
28 The Margins
Project		 Mental health &
advice support for
refugees & migrants.		 Islington £30,000 3 £10,000
29 The Ottakar
Kraus Music		 Music therapy for
people with
dementia.		 Richmond £4,700 1 £4,700
30 The PCC of the
Ecclesiastical
Parish of St
Aldhelm		 Connecting people
for better well-being,
friendships &
improved
confidence.		 Enfield £3,000 1 £3,000
31 This is Growth
Ltd		 Day Centre for
homeless men &
women.		 Tower Hamlets £9,760 1 £9,760
32 Toucan
Employment		 Advice &
employment support
for people with
learning disabilities.		 Southwark £24,749 3 £8,250
33* Training Link Advice & training
support for people.		 Camden £9,500 1 £9,500
34* Wapping
Bangladesh
Association		 Advice, health &
well-being support
for elderly people.		 Tower Hamlets £10,000 1 £10,000
35 Whittington Park
Community
Association		 Health & well-being
support for elderly
people.		 Islington £30,000 3 £10,000
Total £557,673 £258,350

HARDSHIP GRANTS

Name of Organisation **Borough ** Amount
1 The Manna Islington £1,000
2 Birth Companions London-wide £1,000
3 Beis Brucha Ltd Hackney £1,000
4 Indo American Refugee and Migrant
Organisation(IRMO)		 Lambeth £1,000
5 Southwest London St George’s NHS
Foundation Trust(Traumatic Stress Service)		 Wandsworth £1,100
6 DisabilityAdvice and Support Hillingdon Hillingdon £1,200
7 South London and Maudsley NHS Trust-
PrimaryCare MHT(PCMHT)		 Southwark £1,500
8 Vineyard Community & Richmond Foodbank Richmond Upon
Thames		 £1,500
9 St John’s Soup Kitchen and Food Bank Hackney, Haringey,
Islington		 £1,500
10 RojWomen’s Association Haringey £1,500
11 HackneyFoodbank Hackney £1,500
12 BexleyVoluntaryService Council Ltd Bexley £1,500
13 Inspired Brent £1,520
14 Women in Prison Greenwich £1,700

34

London Catalyst Report and Accounts 2025

15 CausewayIrish HousingAssociation Haringey £1,700
16 Greenwich Homeless Project Greenwich £1,800
17 MildmayHospital Tower Hamlets £2,000
18 The Care Rights Project Hillingdon £2,000
19 Revival House Newham £2,000
20 Likewise Camden £2,000
21 Ozer Umagen Cityof London £2,000
22 Camden and Islington NHS: Traumatic Stress
Clinic		 Camden, Islington £2,000
23 Ascension CommunityTrust Newham £2,000
24 *The Salvation ArmyWelling Bexley £2,000
25 West Silvertown Foundation Newham £2,000
26 Horizon Youth and CommunityAction Harrow £2,000
27 Kingsley Hall Church and Community Centre Barking &
Dagenham		 £2,000
28 This is Growth Ltd Tower Hamlets £2,000
29 Croydon Refugee Community Croydon £2,000
30 Waltham Forest Blind Association Waltham Forest £2,000
31 South London Refugee Association Lambeth £2,000
32* The Havens Southwark £2,000
33 Livnos Bayis Hackney £2,000
34 HaringeyMigrant Support Centre Haringey £2,000
35 Southwest London Law Centre Croydon £2,000
36 The Romanian and Eastern European Hub Brent £2,000
37 The Zaccheus 2000 Trust Westminster £2,000
Total £64,020

Note: Those with * were paid in January and March 2026

THE HOSPITAL SUNDAY APPEAL DONATIONS IN 2025: £5,147 (2024: £12,861)

DONATIONS IN 2025: £5,147 (2024: £12,861)
Donor
Privy Purse Charity
BE Rodmell Trust
Institutions Total
Individuals (includes public collections) &
anonymous
Total Donations		 £
500
—
500
4,647
5,147

35