Charity numb•r: 1074025
Company number: 03667290
(England and Wale8
Helena Kennedy Foundatlon
Report of the Tru8ts08 and UnaudSted Flnanclal Statements
For th6 year •ndod 31 May 2024

Helona K•nnedy Foundation
Contents Page
For the year •nd•d 31 May 2024
Report of tha Tru6te88
1to7
Independent Examlnerf8 Report to th• Trusts88
Stat•m•nt of Flnan¢l•l A¢tivlti••
Statement of Flnancial Po8ltlon
10
Not•0 to th• Flnlnclal St4t•monts
11 to19

Helena Kennedy Foundation
Report of the Trustees
For the year ended 31 May 2024
The Twstees, who are also directors for the purposes of company law, have pl8a$ure In p￿sentIng their ￿port and the
financial statements for the chatitable company for the year ended 31 May 2024. The Trustees have adopted the provisions
of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charilies preparing their
accounts in accordance with the Financial Reportlng Standard applicable in the UK and the Republic of Ireland IFRS 102}
{effective 1 January 20191.
1 of19

Helena Kennedy Foundation
Report of the Trustees Continued
For the year ended 31 May 2024
Chalr's report
The Helena Kennedy Foundation exists to support disadvantaged students from the further and adull education sectors to
transfomi their lives through higher education and fair access to the graduale professions.
The Foundation was established in 1998to make a practical Gontribution to government policies on widening participation in
higher education and promoting social inclusion. We aim to tackle soclal injustice by supporting those who face multiple
barriers to participation in higher education and work to fulfil their potential.
Since our u8alion, the Foundation has provided financi81 support to nearly 2440studenl$. Wth the cost8 asg0¢iated with
studying in higher education continuing to rise and a challenging employment market impacting on opportunities for students
to gain 8ccess to part time work to support their studies, this support remains more Televant and importsnt to students,
needs than ever. We award bursaries of £2,250 to individuals who have successfully completed a programme of Study at a
further education sector college and are progresslng on to a course in Higher Education.
Many of our wlnners have Progressed to succe8sful ¢are&rs such as accountants, audiologists. auditor$, scientists, doctors
and many more. They continue to slay in touch with Ihg Foundation to help give back by mentoring current bursary winners.
All the students we Support Come from low-in￿rne backgrounds and face financial difficulty. Our sludents are a te8tam8nl
to the power of education In overcoming socSal di5advantag88 and in¢lude'.
Students labelled a8 failures by tho school$, $y$lem, often because of undiagnosed l&aming difflcultie8 8uch as dyslexia.
Students lacking parental and family 8UPPQrt.
students who have made unsuitable career and course choices early on in their life and want to retrain and acquire higher
level skills.
Students who left school at 16 and found themselves in a string of unrnwarding and low Pa￿ jobs, before recognising the
need, a8 more mature adutts, to oblain higher level skills and a degree lo improve Ih8ir job pr08P&¢tS 8nd quality of life.
Students in Iransillon, emotionally and geographically. Thes& include..
Ex-alcoholics or drug addicts who have realised that aducalion can support their rehabilitation process
Victim8 of sexual abuse or domestic violence struggling lo lift their per80nal liv88 Out of misery through education
Those fleeing from peis8CUtion and torture and seeking refuge or political asylum in the UK
Students with a history of severe health problems, physical disabiliti88, or emotional difficulti88, sometimes a8 8 r8sull of
serious accident that has radically altered the way they live their lives and for whom education 18 a life Saver
Casualties of oppr88sion, discrimination, and injustice, often on the grounds of race, raI￿lOn and sexual orientation
Students expori•ncing mental ill health
Students who are lone parents. on low in¢ome5 and with low 8klll8 levels, many of whom come from poor, worklng class
and black and minority othnia GornmuniliofS.
The pastoral support offered by Ihe Foundation include8'.
On& lo one support provided by the Foundation's support $18ff
Specialist pracbcal and emotional support le.g., dyslexSa, victim support) brokered through partnerships with other
agencies
A ¢asework sèrvice lo help Iroubleshooling on issues
Where funding is available, we seek lo run skills training workshops to help students d&v&lop in areas identSfl6d by
employers as the ski118 needed in the workplace. includlng 1gad8rship, team working, effective ¢ommunicalion, wrrting
CV and successful inteNiew Skills.
To help students d8velop professional netsvorks and gain an insighl into highly competitive profgssions and industries we
aim lo..
Run a menloring scheme to match students up with mentors worklng in jobs. industrie$ and professions Ihal match their
interests
Broker work placement and Shadowing opportunities
Run insight days and Careers talks with companies acro8$ a range of industries and professions
Where practicable we share our experience a$ practitioners around widoning participalion in oducation and fair access to the
profes$ion$ by contributing lo publications, appearing on public platform5, commenting in the media and commi55ioning and
producing research. We seek to give our students the opportunity to share their own experiences, which help$ develop their
own skill$ and confidence as well as giving poliw makers a first-hand insight into the expgriences and achievements of
these remarkable individual8.
2of19

Helena Konnedy Foundation
Report of the Trustees Continued
For the year ended 31 May 2024
08JECTIVES AND ACTIVITIES
Statomont on publlc b&nBflt
The trustees have considered the Charity Commissions guidance on public benefft, Includin9 the guidance 'public benefit-
running a charity IPB21'.
Trustees review the Foundatlons aim5. objectives. activitio$, athiev8ments, and perfonnance each year. Perfomiance is
monitored against our Strategic Plan and Annual Operating Plan. Trustees refer to the guidance contained In the Charity
Commission8 general guidance on public benefit and ensure that planned a¢tivitie$ contrlbute to Ihè aims and objectives
set.
TnJstee8 conclude that, since the Helena Kenn$dy Foundation exists primarily to overcome Social inju$tlce by providing
support for disadvantaged student8 to acces5 higher education, the charity Can demon$trale beyond doubt thal each of the
principles outlined in the Charity Commissions guidance on Charities and Public Benefit are being meL
3of19

Helena Kennedy Foundation
Report of the Trustees Continued
For the year ended 31 May 2024
ACHIEVEMENTS AND PERFORMANCE
Significant activitles
The financial year 23124continues to see HKF grow financially stablo. Whilst HKF navigated through the impact of
COVID19, we
now
are
dealing
with the
challenges
of the
cost of living and potential increase in luilion fees.
During the year the charity was invited to lake part Sn a communications strategy programme and small leadership training,
Both programs ran over a period of around 9 months.
We were pleased to welcome PA Foundation as a strategic partner. This was secured through the recommendation of a
previous bur$ary wlnner, The fifty bursaries sponsored by PA Foundation will be reserved for students undertaking STEM
subjects.
Our Bursary awards provide financlal support that makes a real difference to our students, ability lo meet the rising Costs
assuiialtld willi sludyiiig, 11 rtsiiiaii?s Ili¥ pi-ii)iaiy i¥abuii lui ¥lud¥iil¥' $4vvIiL$41ivii lu Ili¥ FuuiiQ¥liL)n. The Trustees are
delighted to report that the number of new student8 receiving a bursary award during thls financial year wa8 134.
HKF
received 580 application8, around 100fi were not reviewed due lo ineligibility or duplication. This 18 considorabty higher than
usual and is attributable lo raislng awareness ol the charity, cosl of living crisi8 and changing the application process.
Notwilhslanding this increase
in applications, we were signrficanlly over-subscribed and many more would benefrt from the
financial 8UPPOrt we offer, a8 well as the wider pack8ga of mentoring, advice and guidance. training and work p1s￿rnents
should we be ab￿ to Secure additional fundin9. W8 also axpact our application number8 lo rise next year.
Progression rates for our $ludenls are typically In the 90-951 range. Of thosè that do not progress from ona year lo the next,
many go on to raturn lo their studies a year or IMO later and continue to re¢elv• advice and guidance from the ¢harily.
Around 960h of our students graduate
which 18 81gnifi¢anlly above the natlonal average. This is ev8n more impresslve 9iven
the serious hurdles our students have overcome lo succeed In 8du¢ation. Wa are immensely proud of this a¢hiev8mont and
of our students. Ensuring that our students ttsmplele their studies not only helps their life chances, but sav85 the student.
higher education institution8 and the taxpayer a great deal of money, due to the high direct costs and social costs of
non-completion.
Thanks to the Pilot Light programme HKF continued lo lighten their focus and 8trategy.
Their main objectiv88 going forward lo 2026 will be..
1.Dovelop 4cxounl management for key funders and a¢counl$
2.Build network of alumni as formal ambassador8
3.Establlsh Impact measures and regular reportlng
NCFE
We are delighl&d too that our strategic partnership with NCFE continues, The DISCOVER programme enables 15FE
colleges lo lake part in a college bursary scheme, whereby 15Students are awarded a bursary of £1,500to support their
success and progression lo higher education or employment. NCFE also sponsors 10HE bursaries each year. where
winner8 receive £2,250. NCFE staff also mentor HKF bursary winners. The partnership is going from slrenglh to Strength,
and we enjoy great support from The CEO and their team,
Skills Education Group
Tha Ski118 and Education Group continuas to $pon50r and support the annual House of Lords reception. Through the
partnership they provide 2 bursaries per year for FE students from their member colleges progressing lo Higher Education.
Any applicants we are unable to support are encouraged to apply lo SEG'S own funds and a secure bursary of £350 each.
PA Consulting
Thanks to former winnar PA Foundalion sponSo￿d 10bursari8s in 2021for Stem related subjects.
PA Foundation sponsored 50 bursaries. We are d?lighlgd they will continue their 8UPPQrt in 2024.
Subsequenlty
Pastoral and Mentoring Support
We continue to offer one to support with Improving your cv, improve your Linkedln profile among81 olhor3 which is also
now available as
re$our¢e
on YouTube. This is also
an opportunity for winner8 to discuss any issues in a safe
4of19

Helena Kennedy Foundation
Report of the Trustees Contlnu•d
For the year ended 31 May 2024
environment.
The meet and greet week as part of the welcome to HKF was well re￿ived. Wo continue to offer one to one
support alongside a monthly drop-in chat session.
FINANCIAL REVIEW
During the year, the lotsl income received was £462,82812022-23 '. £450,176>. Total exp8nditure was £315,892 {2022-23 '.
£279,607), resulting in a total net income before investment gains of £146,936 12022-23 .' £170.5691 net income.
The gain attributable to unrestricted funds was £31.566{2022-23'. £13,112) after investment gains and adjustmenls, which
consolidated the Charity's unreslricted reserves position from £307,792 at thé start of the year to £339,358 at the end. Of
this. £75.OOOis represented by general fund reserves, reprèsenting six months, running costs to cover unforeseen costs and
commitments in line with the reserves policy. The remaining £264,358is accounted for a$ designated funds on Ihe balan
sheet, being eam8rk8d by thè charity for future spending on charitable objects, in line with the reserves policy.
The flnancial numbers represent a robust position. The Charily has achieved a 8e¢ure fSnandal footlng through a
combin81ion of fundr4i5ing activity and keeping operating Gosls undèr Control ovèr thls pèriod of 11ght fiscal iestrainl which
has. regrettably, resulted in many Small charities like HKF ceasing lo operate. In this regard, the positive achievements of
thg Foundation ov8r the last six years cannot be und6r8taled and praise for this is dug in no small measure to the dedical8d
efforts of our operations Manager and her small team.
Our Treasurer, who bring8 with him a w&alth of financè experience. has al80 re8ulled in significant improvèmen18 to our
finanGlal processes and financial planning.
Re81rictad funds Increa8ed by £130,919after adjustments, from £535,68110 £666,600. Of this balance, the whole £666,600
related lo the Badged Bur8ary Scheme. In line with the reserves policy. restricted funds are managed to ensure that they ar8
Spent in line with donor requirements and do not go into a negative p081tion.
The Tru51ee8 are pleased lo note that direct charitable exp&nditure through student bursaries In 2023124amounled lo
£202,31812022-23.' £172.6471-
Investment Powers and Policy
Under the Memorandum and Articles of Association, the Chafily ha8 the power lo invest in any way the Tru8tees wish, The
present policy is lo invest surplus liquid deposits in incom8 generating cash deposits and investments.
Reservo8
R&stricled fund8 are managed to ensure that they are sp6nt in line with donor requiremen18 and do not go into a negative
position.
The Charity regularly r8view8 11$ reserves policy, as il ha8 done during thi8 year. and Sets aside at lea8t six months running
costs lo cover unforeseèn costs and commitment8 in the event of a sudden reduction In funding or ¢e$salion of a¢tivltle$.
These are accounted for as general fund lunre8lrl¢ledl reserves and aro al80 indèx linked lo inflationary pr88sur•s.
Any additional unre$lri¢ted funds which remain unspent aro a¢counled for as contingency funds on tho balance sheet, belng
held in reserve by the charity to cover bursary as well as other forms of 51udent support. in line with charitable objects and
the reserve policy. In addition. this year CRM 5yslem5 are being fine-luned lo streamline the charity data base and sludenl
selection proGess85. Other unrestricted funds are accounted for as designated fund reserves or inve$led over the Short to
medlum torm.
Sof19

Helena Kennedy Foundation
Report of the Trustees Continued
For the year ended 31 May 2024
STRUCTURE. GOVERNANCE AND MANAGEMENT
Governlng document
The Helena Kennedy Foundation is a company limited by guarantee, governed by its Memorandum and Articles of
As80¢iation dated 13th November 1998. 11 18 regi$leRd as an independent educational charity with the Charity Commission.
The members (currently 131 undertake to contribute the sum of £1 in the event of the Charity winding up.
Organisation and Managament
The Board of Trustees delegates the day-l￿daY leadership and management of the charity to paid full-lim6 employees who
during the year comprised a Director of Opsrations Manager and a Projects Coordinator.
The charity is fortunate to b8 SUPPOrted by a range of volunteers who help the ¢harlty through the generous donation of their
time, skills and experience in a numbér of way8'.
givin9 careers talk8 on a range of sectors and indu8lri08
allowing sliidenls lo shadow them al work
organising fundrai¥ing aclivitios
assisting within the foundation with activitie8 including admlnl8tr8llon, sludenl support and organising events
Many of our volunl88r8 8r& previou8 benefieiaries of the charity who want to give something back, Our ben•flcSarS&s also
come back lo the Foundation to give talk8 at events as amb853ador5.
Rl$k Management
Trustees regularly review th6 major organi88tional, fSnanclal and reputational ri8k8 as888smenls lald out by the Foundation.
Rocrultmgnt and oppolntment of trustegs
Appointment of Trustee8
New Truslees arn appolnled through an open process following completion of a Trustees skills aLtdit undertaken to assess
any gaps In the overall profile and competencies of the Board. As set out in the Articles of Association, TruBle86 are
appointed by agreement at the annual general meeting nomally held in October or November each year.
Trustees Induction and Training
New Trustees 8re off&red an Induction program. Thi8 includes,.
An opportunity lo visit the Foundation'5 offices lo meet staff lo familiarise th8mselve8 with the Foundatlon's work.
copy of the Tru8t888 information pack, containing rèlevant literature on char¢ly trusteeship from the Charity Commission,
Including details of the Trustee appraisal system.
Relevant information from Companies House on the re8pon8ibilitie$ of direclor8hip.
There are al80 ongoing development opportunities for Tru6tees to attend conferences and Seminars on i8$ues rèlev8nt to
Iheir role$. Those aro provided on an ad hoc ba81S.
REFERENCE AND ADMINISTRATIVE INFORMATION
Namo of Charlty
Chaflty rogl$tratlon numbor
Company rnglstratlon numb9r
Prlnclpal address
Helena Kennedy Foundation
1074025
03667290
South & City College Birmingham Handsworth Campus
The Council Hou8e. Soho Road
Birmingham
England
B219DP
8of19

Helona Kennedy Foundatlon
Report of th• Trustees Continued
For the year ended 31 May 2024
Trustees
Th8 trustees and officèrs seNing during the year and since the year end were as follows..
Dr Julie Mills OBE DL (Chairl
Mr John Sandiford Haigh {Treasurerl
Mr lan Kernohan
Ms Elizabeth He8S
Ms Mica Coleman Jones
MS landra Maccallum Tchoudnowsky
Mr Mark Cooper
Mr Paul Eeles
Ms Rachael Shimmin OBE
Mr Philip Le Feuvre
Indopondent examlnfrr
Victoria Anderson 8A (Hons) FCA DChA
Clark Brownscombe Limrted
2 St Andrews Place
Lewes, Ea6t Su8S6X
BN7 1UP
Bankern
The Co-operallve Bank plc
PO Box 101
1 Balloon Street
Manchester, M80 4EP
CAF Bank Ltd
25 Klngs Hill Avenue
Klng8 Hill, West Malling
Kent
ME194JQ
Aldemor& Bank
SO Sl Mary A¥e
London,
EC3A 8FR
Virgin Money
Jubilee House
Gosforth
Newcasllo Upon Tyne,
NE34PL
Approvad by the Board of Trustees and signed on its behaff by
12 February 2025
Dr Julie Mills OBE DL (Chair)
7of19

Helena Kennedy Foundatlon
Independent Examlners Report to the Truste68
For the year ended 31 May 2024
I report to the Iru8tees on my examination of the accounts of the charitable company for the year ended 31 May 2024.
Responslbllltl•s and basls of report
As the charity Trustees, who are also directors for the purposes of company law. are responsiblg for the preparalion of the
account8 in accordance with the requiremenls of th8 Companies Act 2006 {'the 2006 Act'i.
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006Acl and
are eligible for independent examinalion. I report in respect of my examination of your charity's aGcounts carried out under
Sgction 145 of the Charities Act 2011 Ilhe 2011 Act,). In carrying out my examination I have followed the Directions given by
the Charity Commission under 3ection 14515llbl of the 2011 Act.
Independent examln8rs ststement
Since the Charitable company's gross income exceeded £250,000, your examiner must be a member of a body listed in
section 145 of the 2011 Act.
l Confirm that l am qualified to undertake the examination by virtue of my membership of
In51ilute of Chartered Accountants in England and Wales, which 15 one of the listed bodies.
I havè completed my examination. I confirm that no mallers have ¢ome to my all8nlion in ¢onnection with thé examination
giving me co118e to believe that in any matori81 rèspect..
1. accounting records wera not kept in respect of the Company a8 required by section 386 of the 2006 Act; or
2. tha accounts do not accord wllh Iho$e re¢ord$; or
3. the ac¢ounl$ do not comply wllh the roquiremanls of $8Ction 396 of Ihe 2006 Act other than any requirgment that the
accounts give a Irue and fair view, whlch 18 not a matter considered a5 part of an independent examinalion, or
4. the accounts have not been prepared In a¢¢ordance wlth the methods and principles of the Statement of Re¢ommended
Practice for accounting and rfjporting by charities applicable to charitie$ Preparing Ihelr accounts in accordance with the
Financlal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021.
I have no concerns and have come across no other matters in Gonneclion with the examination to which attention should be
drawn in Ihis report in order to enable a proper understanding of tha accounls to b8 reached.
Vldoria Anderson BA (Hon81 FCA DChA
Clark BrownsGomb8 Limited
2 St Andrew8 Place
Lewes, East Sussex
BN7 1UP
13 February 2025
8of19

Helena Kennedy Foundatlon
Statement of Financial Actlvltles (Includlng Income and Expendlture Account)
For th• y•ar •nd8d 31 May 2024
Note8
Unrostrlctgd
funds
Rostrlcted
funds
2024
2023
Incomg and ondowmgnts from:
DonationB and legacies
Other trading acts'vite6
Investments
151,579
1,507
13.492
296,250
447.829
1,507
13,492
462,828
438,703
1.927
9,546
450,176
Totsl
166.578
296,250
Expondituro on:
Raising fund$
Charitable activitie8
{4,8921
1108,6821
1113,574}
14,8921
1311,000)
1315.892)
14,3011
(275,3061
(279,807)
516
{202,3161
(202,3181
Total
Net gain61{lossas) on inve8tmen18
Transf•f8 ￿twOon funds
Other r&cognl$od galnsllo¥•o•
Net movom•nt In fund•
15,549
{36,9871
15,549
(12,4691
36,987
31,568
130,919
162,486
186,100
RKonclllatlon of fundB
Total funds brought forward
Totsl funds carrled forward
307,792
339,358
535,681
666,600
843,473
1.005.906
685.373
843,473
9of19

Registered Numb6r.'
03667290
Helena Kennedy Foundation
Statement of Flnancial P08itlon
As at 31 May 2024
Nots8
2024
2023
Flxed as$ots
Tangible assels
Investments
12
261
13
273,381
257.387
273.381
257.648
Current a$$ots
Deblors
Cash al bank and in hand
14
47,471
701,986
749.457
{16.8801
22,501
572.799
695,300
19.4751
Credltor8: amounts falllng due wlthln one year
15
Net current assets
732,577
1,005,958
685,828
843,473
Totsl a980ts less current Ilabllltl
Not a88ets
1,005,958
843,473
Th• fund• of th• chavlty
Restricted in¢omo funds
Unrè8tri¢tsd in¢omo fund8
16
668,600
339,358
1,005,958
535,681
307,792
843.473
16
Total fund•
For tho yèar endéd 31 May 2024 the Company w88 6ntit18d to exempllon from audit under 8ection 477 of the Compani88 Act
2006 relating to small companieB.
The member5 hav8 not required the company to obtain an audit of 118 Bccoun18 for the year in que8tion in accordance
with section 478,
The tr1181888 acknowledge their re8pon8ibilili&6 fof complying with the requirements of the Act with respect lo accounting
records and the preparation of accounts. These accounts hava been prepared in accordanco With the provisions
applicable lo companl&s 8ubject to the small companies, regime.
The financial Statements wore approved and authorl8ed for issue by the Board and slgned on ils hhalf by..
Dr Julie Mills OBÈ CIL jchairj
Trustee
12 February 2025
10of19

Helena Kennedy Foundation
Nots8 to the Flnanclal Statements
For the year ended 31 May 2024
1. Accountlng Pollcles
Basls of accounting
The financial statements have been prepared under the historical cost convention, except for investments whlch are
Included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP IFRS
102) 'Accounting and Reporting by Charities= Statement of Recommended Practice applicable lo ¢h8rities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021
leffeclive 1 January 20191,. Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and
Republic of Ireland {FRS 102}, and the Companies Act 2006.
Helena Kennedy Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are
initially recognised 8t historical Cost or transaction value unless othe￿iS8 stated in the relevant accounting policy nolels).
Golng concern
The financial statements a￿ prepared, on a going concern basis, under the hi8torical cost convention.
The trustees consider thal there ar6 no material uncertainli&8 about the charitable ¢ompany'8 ability to
continue a8 a going ¢on¢ern.
Tha trustaes do not consider that th&r• 8r8 any sour￿8 of ostimatlon un¢8rtainly al the r•portlng datè thal
have 8 significant risk of causing a material adjustment to the carrying amounts of assets and liabiliti88 within
Ihe next reporting period.
Funds
The Charity maintains a general unrestricted fund which r8pre8ents funds which are expendabl? at the di8cretion of the
trustees in furtherance of the object8 of the charity. Such funds may be held in order lo finance both working capital and
capital inv&stment.
Designated funds Gompri88 of unre8tricted funds that have been 88t aside by the Tru8lee8 for particular purpose8.
Re$lriGted fund8 have been provided to the ch8rity for particular purposes, and it i¥ the poliGy of Ihe board of tru8188s to
carefully monitor the application of Ihose funds in accordance with the re8triclion8 placed upon them.
Thero 15 no fomal policy of transfer botween fvnd8 or on th& allocation of funds to dtsignaled funds, olhor than that
described above
Incomlng resources
Income 1$ rfjcogni5ed when the charity ha$ enlillemenl to the funds, any performance condltion$ atto¢hed to
the income have been met, it is probable that the income will b8 received and that the amount can be
measured reliably.
Income from government and olheT grant8, whether 'capital' 9r8nts or 'revenue' grants. is recognised when
the charity has entitlement to the funds, any performance conditions attached lo the grant8 have been met, it
is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income received in advance of the provision of a specified service is deferred until th8 criteria for income
recognition are met.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliabty by
the charity., this is normally upon notification of the interest paid or payable by the bank.
11 of19

Helena Kennedy Foundation
Notes to the Financlal Statements Continued
For the year ended 31 May 2024
Ro$ources expended
Expenditure is recognised once there is a legal or constructiv6 obligation to make a payment to a third party,
il is probable that setll8ment will be required and the amount of the obligation can be measured reliably.
Expenditure is classrfied under the following activity headings..
Costs of raising funds relate to the costs incutred by the charitable company In inducing third parties lo
mak6 voluntary contributions to it. as well as the cost of any activities with a fundraising pury)ose
Expenditure on charitable activities includes the costs of delivering sgrvices undertaken to further the
purposes of the charity and their associated support w$1¥
Other expenditure represents those items nol falling into any other heading
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was inCur￿d.
Allocatlon and appolntmont of costs
Re50urc85 8xp&nded are allocated lo the particular activlty where the cost relales directly to that activity.
However, a proportion of the cost of overall direction and administration of ea¢h activity. comprising the
salary and overhead costs of the central function, Is apportioned lo the bursary programme based on the
value of uncomitted bursary amounts.
Gov&rnance ¢osts are the costs associated with the governance arrangaments of the charity. Thèse costs ar8
r448nr.IxIAd with r.nnAtitLltional and 8latLltory requirements and includ• any costs associatèd with the Strategic
management of tho charity's aclivitles.
Taxotlon
A8 a registered charity, the company 18 exempl from income and ¢orporatlon tax lo the extent that its income and galn8
arg applicable to charitable purposes only. Value Added Tax 1$ not recoverable by the company, and 18 therefor&
Included in the rel&vanl costs in the Statement of Financial Activities.
Tanglblg flxed assets
Tangible flxed assets, other than freahold land, are staled at cosl or valuation less depre¢l•tion and any provision for
impairment. Depreciation is provided at rate8 calculated lo write off the cost or valuation of fixed as88ts, less Ih8ir
88timated residual value, over their expected useful lives on the followin9 ba818'.
Office Equipment- 4 years
Debtors
Trade and other debtors are recognised at the $elll•m•nt amount due after any Iradt discount offer8d.
Prepaym&nl$ aro valued at the amounl prepald net of any trade discounts due.
Current asset Invostments
Investment$ are a form of basic financial in$trumgnt and are initially re¢ognised at their transaction value and
subsequently measured at their fair value as at the balance Sheet dale using the closing quoted market price. Any
change in fair value will be recognised in the slalement of financial activitie$ and any 8xces8 of fair value over the historic
cost of the investment8 will be shown a8 a fair value reserve in the balance sheet. Investmenl gain5 and1088es, whether
realised or unrealised, are combined and shown in the heading "Net gainsll1089e$l on investments. in the statement of
financial activities. The Charity does not acquire put options, derivatives or other Gomplex financial instruments.
Reali8ed gains and losses
All galns and lossas are laken to the Siatement of Financial Activities as they arise. Realised gains and losses
on inve8lment8 are ¢alculated as the drfference bètsyeen sales 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 ltteir carrying value. Realised and
unrealis6d investment gains and loss&s are combined in the Statement of Financial Activities.
12of19

Helena Kennedy Foundatlon
Not•8 to the Financial Statements Contlnued
For the year ended 31 May 2024
Credltors and provisions
Creditors and provisioris are recognised where the charity has a present obligation resulting from a pa8t event
that will probably resutt in the transfer of funds to a third party and the amount due to settle the obligation
can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement
amount after allowing for any trade discounts due.
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
inslrumenls. Basic financial inslwments arg initialty recognised at transaction value and subsequently
measured at their settlement value with the gxception of bank loans which are subsequenlly measured al
amort15ed c051 using the effective interest method.
2. Incorno from donatlons and legaclas
Unrestrlcted
funds
Restrlctod
funds
2024
2023
Donations received
151,579
296.250
447,829
438.703
151,579
296.250
447.829
438,703
3. Ineom• earned from othor actlvltles
2024
2023
Unrestrlcted funds
Fund raising and Publicity
1.507
1,927
1,507
1,927
4, Investment In¢omo
2024
2023
Unrestrlcted funds
Income Irom listed investmenls
7,822
5,670
7.560
Bank interest r8ceivable
1,986
13,492
9,548
5. Costs of charltablè actlvltl•s by fund type
Unrestricted
fur￿8
Restrlcted
funds
2024
2023
Bursary Programme
Support costs
202.318
202,318
108.682
172,647
102.659
108.682
108,682
202,318
311,000
275.306
13of19

Helena Kennedy Foundatlon
Noto8 to the Financlal Statements Contlnued
For the year ended 31 May 2024
6. Costs of charltablo activltie# by actlvlty type
A¢tivttles
undBrtakgn
dlroctly
Support
costs
2024
2023
Support costs
Bursary Programme
202,318
108,682
311,000
275.308
7. Analysls of support Costs
2024
2023
Bur8ary Programma
Other Office Expenses
Investment
Management C08t8
Website and IT
5,636
2,324
5,809
2,319
9,450
77.579
12,013
7,745
68,176
12,000
4,900
1.710
Staff Costs
Accountancy
Consultancy
Gov8rn8n¢e ￿$ts
1,680
108.682
102,659
8, Not Incom•llexpgndlture) for tho yoar
Thi816 slated after chargingl(crediting)'.
2024
2023
Depreciation of owned fixed assets
A¢counl8n¢y fees
staff pension ¢ontrlbullon8
261
314
1,680
1,736
1,710
1,546
14of19

Helena Kennedy Foundation
Note8 to the Flnanclal Ststements Continued
For the year ended 31 May 2024
9. Staff costs
Total staff costs for the year ènded 31 May 2024 were:
2024
2023
Salaries and wag68
Social security cost8
Pension costs
70,348
2,197
1,736
65,389
1,241
1,546
74,281
68.176
2024
2023
Management
No employee eam8d more than £60,000 during the year Inil'.20231.
Both members of Staff are key management and their remuneralion is outlined above.
10. Tru8tee remuneratlon and related party tran8actlon8
The charity trustees were not paid or received any other benefits from employment with the charity In the year12023:£nill.
No charity trust88 received payment for professional or other service8 supplied lo the charity {2023'.£rbil). The trusle&s all
give freely their time and expertise without any form of remuneration or other benefit in cash or kind12023.'£nill.
Tru81ees' expenses repfes8nts the payment or reimbursement of travel and sub¥i8ten¢e cosls totalling £nll12023'.£nll}.
There are no related party transaction8 to di8clos& for 2024 (2023.'none}.
There are no donations from related p8rt18s which are outsid8 the normal course of business and no restricted donalion8
from related partios.
15of19

Helena Kennedy Foundation
Notes to th• FinancSal Statemonts Contlnued
For the year ended 31 May 2024
11. Comparatlv• for the Statement of Flnanclal A¢tlvlti•s
Unrestrl¢t•d
funds
Restrlcted
funds
2023
Income and endowments from:
Donations and legacie8
Other trading activit88
Inveslm6nts
140,953
1,927
9,546
1 S2,426
297,750
438,703
1,927
Total
297,760
450,176
Expondltur• on:
Raising funds
Ch8ritable actlvitiès
(4,3011
{102,6591
{108.960)
14,3011
{275,308)
{279,607}
1172,647)
1172,6471
Total
Nel galnsl{108se8) on inv881ments
Tran•l•rn b•twwn fund$
Other recognl•ed galn•llo8808
N•t mov•m•nt In fund•
112,4691
119.8851
(12,4891
19,885
13,112
144.988
158,100
Reconclllatlon of fund#
Tolal funds brought forward
Total fund• cafrled forward
294,680
307,792
390,693
535.681
685,373
843,473
12. Tonglblo flxod a890t•
Offlce
oqulpmont
Colt or valuatlon
Al 01 June 2023
At 31 May 2024
25,643
25,643
D6proclatlon
At 01 June 2023
25,382
Charg• for year
At 31 May 2024
Nrt book valu08
26,643
At 31 May 2024
At 31 May 2023
261
16of19

H•lona Kennody Foundation
Nots8 to the Flnanclal Statemonts Contlnued
For the year ended 31 May 2024
Invostments
13. Analysls of Investments botween funds as at year •nd&d 31 May 2024
2024
2023
Unrostrlcted funds
Llsted inveslment¥
273,381
257,387
273,381
257,387
14. Debtorn
2024
2023
Amounts duo wlthln ong ygar:
Tradè dobtor8
43,000
4,471
15,111
7,390
Prèpayments and accrued In￿me
47h71
22.501
15. Cradltor8: amounts falllng due wfthln one yoar
2024
2023
Other credltor8
1,234
15,646
1,918
7,557
Ac¢ruals and doferred Incom8
16.880
9,475
16. Movement In fund•
Unrutrl¢tod Funds
Balance at
0110612023
In¢omlng
ro8our¢••
Outgolng
r••ourc•s
Tran8fvr8
Galns and
10880•
Balance at
3110512024
Ggner81
Designated funds
Genèral
232,792
75,000
166,578
1113,574)
136,9871
15.549
2eA.358
75,000
307.792
166.578
(113.574)
{36.987)
15.549
339.358
17of19

Holena Kennedy Foundation
Notes to the Flnancial Statements Continued
For the year ended 31 May 2024
Unrestrfctad Funds - Pravlous yoar
Balance at
0110612022
Incomlng
resources
Outgolng
rosources
Transfgrs
Galn¥ and
losses
Balance at
3110512023
Gener81
Deslgnaled funds
General
219,680
75,000
152,426
1106,960)
119,885}
(12,469}
232,792
75,000
294.680
152,426
(106,9601
119.8861
112,4e9)
307,792
Purpo•0 of unrestrlcted Fund•
D88ignAted lund8
Designated fund8 are unreslrlcted fund8 earmarked by the truste88 lor partlcular purpo8e8.
Ganeral
Unre$trl¢ted funds are donatlons and othèr incoming resource8 recolved or genaratod for the charitablo
purposes.
R••trfclod Fund•
Balanco at
0110612023
Incomlng
ro•ourceB
Outgolng
rosourc••
Tran•foTI
Balanc• at
3110512024
Badgèd 8urJarleo
535,681
296,250
{202,318)
36,987
866,800
$35,681
296,2BO
{202,3181
36,987
666,600
Rostrlcted Fundi . Pravlou• year
Balance at
0110612022
In¢omlng
re$ourc•s
Outgolng
re80urc••
Tranglern
Balance at
3110512023
Badged 8ursarlo8
390,693
297,750
{172,647)
19,885
535,681
390.693
297,750
{172,647)
19,886
535.681
Purpose of ra8trlctod funds
88dged Bursarie8
The Badged Bursary Fund relatss lo projec18 invofving payment of bursaries to Students.
18of19

Holena Kennedy Foundation
Notes to tho Financlal Statements Continued
For the year ended 31 May 2024
17. Analys1$ of not assets betweon funds
TangSblo
Ilx•d ai4•t•
Invoitmonts
N•t ¢urr•nt
08•0ts 1
N•t Asi•ts
Unrestrfctsd funds
General
De8ignat6d funds
General
203,381
70,000
60,977
5,000
264,358
75,000
Rastrlctad fund$
Badged Bursarie8
866.600
666,600
273,361
732,877
1,005.958
Pr•vlou8 yoar
T•nglblo Invojtments
Il¥•d •••et•
Il•t ¢urMnt
a••ets I
N•t A•Mts
Unrestrlct•d fund•
General
De8ign8led fvnd8
General
281
187,387
70,000
45,144
5,000
232,792
75,000
R01tr1ctod fund•
Badgad 8ur8arits
535,881
535,681
281
257,387
585,825
843A73
18. Company 11m1t￿ by guarantse
Helena Kennedy Foundation 58 a company limited by guaranloe and a¢cordlngly do•8 not have • Jhorg capltal.
19of19