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← Kent Community Foundation

2025-03-31-accounts

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KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Contents

Contents
Page
Reference and administrative details of the charitable company,
its Trustees and advisers 3 - 4
About Kent Community Foundation 5 - 6
Trustees Report 7 - 32
Trustees' responsibilities statement 33
Independent auditors' report on the financial statements 34 - 37
Statement of financial activities 38
Balance sheet 39
Statement of cash flows 40
Notes to the financial statements 41 - 61

Page | 2

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Reference and administrative details of the charitable company, its Trustees and advisers

For the year ended 31 March 2025

Trustees

Robert Sackville West, DL (Chair) Kruti Shrotri Hugo Fenwick (resigned 16 May 2025) Melissa Murdoch, DL (resigned 29 November 2024) Dr Emilia Falcetti Boscawen Gail Hall Russell Race JP, DL (resigned 16 May 2025) Munyaradzi Badze Samantha Cooper-Gray (resigned 29 November 2024) Cheryl Wing-Han Chan Trevor Minter OBE DL Gearóid Maguire (resigned 6 February 2025) Elizabeth Kate Fenwick (appointed 16 May 2025) Penelope Harris (appointed 28 February 2025)

Company registered number

04088589

Charity registered number

1084361

Registered office

Evegate Park Barn Evegate Smeeth Ashford Kent TN25 6SX

Company secretary

Sarah Osborne (resigned 6 January 2025) Angela Davis (appointed 6 January 2025)

Chief executive

Josephine McCartney (to 17 February 2025) Natalie Smith (Interim) Catherine Glover (from April 2025)

Page | 3

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Reference and administrative details of the charitable company, its Trustees and advisers For the year ended 31 March 2025 (continued)

Independent auditors

Kreston Reeves LLP Chartered Accountants Statutory Auditor 37 St Margaret's Street Canterbury Kent CT1 2TU

Bankers

CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

Metro Bank One Southampton Row London WC1B 5HA

Solicitors

Bates Wells Braithwaite 10 Queen Street Place London EC4R 1BE

Patron

The Lady Colgrain, Lord-Lieutenant of Kent

Vice Presidents

Lady Nelson Simon MacLachlan (Deceased) Rt Rev Dr Jonathan Gibbs Bishop of Rochester

Investment Managers

Sarasin & Partners LLP 100 St. Paul's Churchyard London EC4M 8BU

CCLA Investment Management Limited One Angel Lane London EC4R 3AB

Website

www.kentcf.org.uk

Page | 4

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Annual Report and Accounts for the year ended 31[st] March 2025

About Kent Community Foundation

Kent Community Foundation has been finding, funding, and supporting some of the smallest voluntary organisations in the county of Kent since 2001. In this time, we have distributed over £60 million to help create stronger, fairer and more resilient local communities.

Since we were first founded, we have been part of a UK-wide accredited network of 47 Community Foundations, committed to improving the lives of local people and communities, particularly the most vulnerable, isolated, and disadvantaged by partnering with, and guiding philanthropic individuals, families, businesses and other foundations.

Our mission and vision are at the forefront of everything we do.

Our vision is to empower Our mission is to organisations and charities in our proactively create strong local communities of Kent and local communities by Medway who make a real and connecting those who want positive difference to people’s to help with those seeking lives. help.

Responsible for over 100 philanthropic funds, Kent Community Foundation is unrivalled in its knowledge of local causes and expertise in establishing and managing charitable funds.

Page | 5

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

We use these funds to support as many organisations as we can: charities and voluntary groups who are often a lifeline for those vulnerable and under-represented people in our Kent communities, who are in the most need. We’re proud of our role as professional grant-makers who make this possible and bring the joy of giving to those who are able to offer financial support.

Our values inform and underpin all our activities

We strive to achieve excellence in the delivery of our service by exceeding the expectations of both our donors and our grant recipients.

We go above and beyond to support the organisations that apply to us for funding by sharing our knowledge and expertise to help build a sustainable and confident voluntary sector across Kent and Medway

We operate with integrity in everything we do. We are transparent in our processes and deliver what we promise.

Our highlights in 2024/2025

This year we raised £ 2,907,553. We processed 795 grant applications. 607 grants were awarded to 476 organisations and over 131 individuals and families. We paid £2,981,537 in grants. And agreed £399,500 social enterprise loans. 232 groups applied to us for the first time and 116 groups received their first grant – we are continuing to increase our reach. 73% of our applicants were successful.

Page | 6

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report For the year ended 31 March 2025

The trustees (who are also directors of the charity for the purposes of the Companies Act 2006) present their annual report together with the audited financial statements of Kent Community Foundation (the company) for the year ended 31 March 2025.

The trustees confirm that the annual report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) as amended by Update Bulletin 1 (effective 1 January 2019).

Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director’s Report) Regulations 2013 is not required.

Objectives and Activities

a. Policies and objectives

The Foundation’s objectives are the promotion of any charitable purpose for the benefit of the community in the County of Kent and Medway and in particular the advancement of education, the protection of good health, both mental and physical, and the relief of poverty and sickness. The Foundation’s objectives also include other exclusively charitable purposes in the United Kingdom and elsewhere which are, in the opinion of the trustees, beneficial to the community including those in the area of benefit.

The trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit. The charitable purpose of Kent Community Foundation is stated in its ‘Objectives and Activities’ and the trustees ensure that this purpose is carried out for the public benefit by working to the Mission Statement.

Page | 7

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

Kent Community Foundation meets its charitable objectives by encouraging and facilitating financial and other support to a wide range of charitable causes, with a particular focus on assisting and enabling local community action in Kent and Medway. This means that the majority of the Foundation’s grants are made to local community organisations in Kent and Medway, often reliant on volunteers. The trustees have identified priority areas of need to inform local community grant making.

Our priority areas for grant making:

In the year ended 31 March 2025, Kent Community Foundation continued to operate under its 2022-2025 business plan. This plan featured ambitious financial targets alongside our commitment to become a more diverse, equitable and inclusive organisation, being responsible for our impact on the environment.

Page | 8

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

Our overarching business plan objectives from 2022-2025

b. Strategies for achieving our objectives

Kent Community Foundation proactively raises and develops new funds for Kent and Medway. This can be through donor advised funds, which are distributed according to specific criteria set by our donors; pooled funds, set up to support specific causes; and discretionary funds which are used to support a range of initiatives to the benefit of Kent communities. Establishing sustainable funding is a critical part of long-term planning within the Foundation, therefore raising endowment funds is one of our key areas of focus within our fund development strategies, alongside funds to be distributed in the short to medium term, which we term as flow through funds.

Page | 9

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

Building and maintaining longterm, trusting partnerships relationships with both existing and potential fund-holders is crucial to achieving Kent Community Foundation’s strategic aims.

Currently over 70% of funds raised within our financial year is from existing fund-holders and therefore consistent stewardship and ongoing philanthropic guidance on the needs of communities across the county is critical to continued success.

Core to our strategy is building a pipeline of new potential

individual family and private family trust fund-holders to achieve our business plan endowment target of £50m and grow income awarded through flow-through funds. Individuals and families have always been a key audience for Kent Community Foundation and remains a strategic priority.

To support the raising of awareness amongst a greater number of high-net-worth individuals and potential fund-holders, the Development strategy includes a dedicated approach to professional advisers, through whom Kent Community Foundation and our services will be introduced. This is also of benefit to professional advisers who can increase client loyalty by adding philanthropy guidance recommendations as part of their services.

This runs alongside the cultivation and stewardship of relationships with individuals and families through face-to-face events and one-to-one contact. We also host a Funders Forum annual event , inviting other trusts and foundations who support Kent and Medway and statutory bodies to discuss funding priorities and strategies.

Page | 10

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

Relationships with key statutory partners in Kent and Medway continue to bring in some new funds, and while we welcome opportunities from this sector, they only represent a small portion of our overall funding.

As part of the UK Community Foundations network, our membership occasionally gives us the opportunity to deliver funding from national programmes at a local level.

Funds and Grants

The Foundation’s Grants Team has a wealth of knowledge and experience and can advise donors and grant making panels on where funding is most needed. Equally, the team is expert at facilitating donor-defined giving.

There are several thousand active voluntary organisations in Kent and Medway, and it is our ambition to reach as many of those under the £3m annual income threshold as possible. The Grants and Communications Teams continue to deliver their outreach programme to attract new local causes with an integrated approach.

Grant applications go through a thorough due diligence and assessment process, ensuring organisations not only meet our main eligibility criteria but can also demonstrate the need and demand for their services. Applicants must also show that they are a going concern. Successful applicants are required to report back on how the grant was spent, and on the successes and challenges of their project once the funding has come to an end. This information takes the form of qualitative and quantitative data and is used to demonstrate impact to all Kent Community Foundation’s stakeholders; directly through personal communications to Fund-holders and to the general public through our website, e-mailings and social media platforms.

We try to keep all our processes proportional to the capacity of the organisation applying and size of the grant requested/awarded. Kent Community Foundation’s grant making policy is reviewed by the trustees at least every two years.

Page | 11

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

KSELF

Kent Community Foundation also has a loan fund for charities and social enterprises, Kent Social Enterprise Loan Fund (KSELF) . This was started with £1m of initial funding from Kent County Council in March 2012, followed by a further two donations of £1m in 2013 and 2014 respectively. A further £500,000 was added to the fund in October 2017 from The Growth Fund. The Growth Fund, is a £50m partnership which uses a combination of grant funding, made possible thanks to National Lottery players, and loan finance from Big Society Capital and other co-investors, to address specific gaps in the social investment market. The programme is delivered by Access through a range of social investors. Funds from The National Lottery Community Fund, under the Growth Fund programme have been treated as restricted funds, in these accounts.

This loan fund is now well established and has become a valuable source of investment for local Kent based charities and social enterprises who want to grow and develop for community benefit.

With the capacity to consider loans of between £10,000 and £100,000 on bespoke, flexible terms, KSELF supports all sizes of social venture . Primarily a loan fund, there is also scope for an element of grant funding as well as providing applicants with investment support and advice.

c. Fundraising Practices

Kent Community Foundation is a registered member of the Fundraising Regulator which is the independent regulator of charitable fundraising. The Foundation is therefore committed to following The Code of Fundraising Practice. Kent Community Foundation has a complaints

procedure to deal with any issues raised by stakeholders and is pleased to report that no complaints regarding fundraising have been received during the year.

Page | 12

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

The Foundation takes a responsible approach to its fundraising, ensuring its donors and potential donors are treated with respect, and it has a vulnerable adult’s policy that its trustees review on a regular basis. The Foundation has not used any commercial fundraising partners or outsourced any of its fundraising activity and does not intend to do so in the future.

Achievements and performance

Our objectives for the 2024/25 financial year – how did we do?

Secure minimum donations •This year we achieved donation income of £2,907,553
of £2.85m
Distribute grants of £3.96m •We distributed a total of £2,981,537 in grants
Set a timeline for our new
business plan		 •We will start developing our new business plan in 2025/2026
Fully embed our new
database and finance
systems		 •We've successfully embedded our new systems, and we are now
benefitting from increased efficiencies and insights
Implement a new grant •We launched our new grant making strategy in April 2024 which is
making strategy now fully operational
Finalise and embed our DEI •Our DEI strategy will be approved by the Board in May 2025 and
strategy already informs our grant strategy and recruitment practices
•We sucessfully achieved a 3-year core funding award with the
Secure 5 year's core funding prospect of a further two years on expiry. We continue to seek
further longer term core funding.
Maintain 6 month's operating •Our unrestricted reserve is the equivalent of 6 month's operating
reserves costs, and we are committed to maintaining this level.

Page | 13

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

a. Our financial performance

Over this year, donations of £3,024,369 (2024: £4,823,750) were secured which included £1,049,172 (2024: £1,469,942) in endowment funds. These donations are from new and existing donors.

£2,981,537 (2024: £3,808,955) was distributed in grants.

Last year, the Foundation secured its £1,000,000 endowment match partner with the Lawson Charitable Trust. The programme is a pound for pound match to encourage long term, sustainable philanthropy through endowment, with grants made from its income to be spent specifically on projects with an environmental element.

At end March 2024, £575,000 of the £1,000,000 target was banked, and we’re pleased to report that the balance was received in October 2024. An overall total of £2,200,000 has now been raised for environmental causes in Kent and Medway – one of the five Priority Areas in our grant making strategy.

We offer grateful thanks to all our donors.

At the 31st March 2025 the Foundation held endowment funds of £29,821,727 (2024: £29,720,363).

b. Review of activities

Grant Making

During the year the grants team processed 795 grant applications;

607 grants were awarded to 476 organisations and131 individuals and families;

232 groups applied for first time grants, of whom 116 received their first grant from Kent Community Foundation.

Applications made to Kent Community Foundation in the year saw a 73% success rate, keeping pace with previous years.

Page | 14

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

The total value of grants paid out during the year was £2,981,537 (2024: £3,808,955). Whilst we did not achieve our target this year, due to some attrition in our funds, we prioritized sustainability and the impact that could be achieved with the funding available.

For more information about funded projects, see our website: www.kentcf.org.uk/about

The map below shows the distribution of grant funding in 2024/2025 across the various local authorities in Kent and Medway.

----- Start of picture text -----
9 awards 55 awards
£54k 19 awards £245k
£94k
43 awards
£193k
35 awards
£217k
23 awards
54 awards
£95k 22 awards
£277k
£124k 43 awards
£227k 32 awards
£298k
29 awards 76 awards
£247k £428k 43 awards
£243k
----- End of picture text -----

To find out which Funds are open for applications, see Kent Community Foundation’s website where the latest funding opportunities are advertised (www.kentcf.org.uk).

Our Grants Strategy

A new grants strategy was introduced in April 2024 and has been implemented in the year, building on foundations laid during the previous strategy.

Page | 15

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

We are proud to have secured IVAR accreditation as an open and trusted grant maker. IVAR is the Institute for Voluntary Action Research and sets the standard for forwardthinking funding by monitoring grant-makers against eight commitments. For example: ‘don’t waste time’, and ‘be proportionate’,

In the next three years we will focus on the following –

Page | 16

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

For example, the more provisions a foodbank can purchase, the more hours a befriending service can be open. We will also explore ways of supporting our grantees in measuring their own impact.

Environmental Strategy and Achievements: 2024/2025

Kent Community Foundation recognises that the growing climate changes are a serious risk to the pursuit of our charitable aims. As one of the largest private grant-makers in Kent, Kent Community Foundation has an important part to play in combating these challenges and in 2021 launched its first Environmental Strategy. Local community action can be at the heart of delivering solutions that not only minimise the impact on the environment but also offer additional benefits that people and local communities can reap.

Review and Refresh of Environmental Strategy

In January 2025, Kent Community Foundation took an important step forward by reviewing and refreshing its Environmental Strategy. This update merges our environmental strategy with a new policy, resulting in a unified, outward-facing statement of intent. This document not only reaffirms our commitment to sustainability but also sets a clear direction for the next phase of our environmental work.

Key Achievement: Lawson Endowment Match Fund

One of the most significant accomplishments of the 2024/2025 financial year was the successful completion of the Lawson Endowment Match Fund, raising £2.2 million to support environmental projects across Kent and Medway. This milestone marks a major step in Kent Community Foundation's long-term environmental strategy, as we continue to engage donors, fund-holders, and local communities in action on climate change.

Page | 17

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

Environmental Strategy and Policy Highlights

As part of our refreshed approach, Kent Community Foundation’s Environmental Strategy and Policy for 2025 focuses on driving meaningful, local action to mitigate climate change. Our renewed commitment includes:

Funder Commitment on Climate Change

As part of our commitment to addressing the climate crisis, Kent Community Foundation remains a proud signatory of the Funder Commitment on Climate Change, which outlines our actions on education, resources, operational decarbonisation, and more. We continue to integrate climate considerations across all of our programmes and investments.

Page | 18

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

Achievements to Date

Since the launch of our initial Environmental Strategy in 2021, Kent Community Foundation has made notable strides in integrating sustainability into our operations and funding efforts, including:

Looking Forward

Our Environmental Strategy and Policy will be reviewed every three years to ensure that we remain on track to meet our ambitious sustainability goals. As we look ahead, Kent Community Foundation is committed to continuing its role as a leader in climate action, driving local and global change through our philanthropic efforts, sustainable operations, and community partnerships.

By working together with our donors, fund-holders, and local organisations, Kent Community Foundation is confident in our ability to build a greener, more sustainable future for Kent and Medway, and beyond.

Page | 19

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

Diversity, Equity and Inclusion (DEI)

Kent Community Foundation is committed to promoting equity, diversity, and inclusion across our organisation among staff, trustees, grantees, donors, and other stakeholders.

The Board of Kent Community Foundation has delegated responsibility for DEI to a dedicated sub-committee to ensure that we remain focussed on and accountable for this important area.

Within our DEI strategy, our key areas of focus over the next 12-18 months are:

  1. Culture (Staff & Trustees) : Ensuring an inclusive organisational culture that values diverse perspectives.

  2. Practice (Grant-Making) : Embedding DEI in our grant-making approach, targeting particular geographical areas and groups that are under-represented in our current grant making programmes.

  3. Influence (Sector & Stakeholders) : Leading by example and supporting DEI initiatives within the broader funding sector.

Our DEI Action plan

Our Immediate priority is our approach to under-represented organisations in relation to our grant making strategy. Over the next 12 months, we will:

To date, towards meeting our DEI objectives, we have:

Page | 20

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

With a robust strategy and DEI Policy, we aim to provide our staff and trustees with a roadmap to deepen our understanding of DEI and strengthen our engagement with key stakeholders so that we can expand our reach and visibility across the county.

The Kent Social Enterprise Loan Fund (KSELF)

KSELF is a social lending programme, aiming to bridge the increasing funding gap for new and existing social enterprises and charities in Kent and Medway, by offering unsecured loans of between £10,000 and £100,000. The financial package will include an element of up to 30% grant of the loan amount.

The aim of the Fund is to break down the barriers which prevent social enterprises and charities from accessing finance and encourage a more enterprising approach to achieving positive change in our communities. Once finance is repaid, it will be reloaned and re-invested back in the community.

Since inception, we have approved 57 loans to organisations spread throughout the county.

In 2024/2025 we agreed 8 loans with a total value of £399,500 (2023/2024: 7 loans valued at £443,500)

Page | 21

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

Quality Accreditation

UK Community Foundations runs a network wide Quality Accreditation programme which endorses and encourages best practice by community foundation members and has been held by Kent Community Foundation since 2007. In October 2024, Kent Community Foundation passed its fifth Quality Accreditation, which involved independent assessors reviewing Kent Community Foundation’s internal processes across a set of standards relevant to Community Foundations which include five key performance areas:

Achieving Quality Accreditation demonstrates that the Foundation is serious about quality and accountability and secures its

position as part of a high performing network across the UK. Successful accreditation awards are renewed every three years.

c. Investment policy and performance

Kent Community Foundation operates a comprehensive investment policy, which is reviewed annually by the Board of Trustees. All investment decisions are considered by the Foundation’s Investment Committee and then ratified by a quorum of Trustees.

We aim to meet a balance between current needs and developing endowment funds to meet the needs of future generations. Our policy is therefore to invest endowed funds with the aim of achieving a balance between capital growth and income.

Page | 22

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

The Foundation seeks to produce the best financial return within an acceptable level of risk. The aim is to distribute 5% of fund value annually to cover both grant making in the community and the contribution to our own costs, while maintaining the long-term value of the Foundation’s endowment funds. We adopt a total return approach with the aim of optimising the return generated, regardless of whether this is obtained from dividends, interest or capital gain, and the Investment Committee monitors the results.

The Board regularly reviews the value of our investment funds and may take action, including reducing the annual drawdown, if it is perceived that the long-term endowment of the Foundation is at risk. However, we take a long-term view, recognising the context of our overall strategy to continually raise new endowment funds.

The Investment Committee review quarterly investment reports and meet at least twice during each year to review performance of the investments as well as meeting face to face with the Relationship Managers from both investment houses the charity work with.

The total value of investments held by Kent Community Foundation at 31 March 2025 was £30,364,213 (2024: £30,283,934)

The net total return Investment performance was as follows:

Sarasin Climate Active Endowment Fund +3.4% (2024: +11.2%) CCLA COIF Ethical Investment Fund -1.46%; (2024: +13.11%) COIF Investment Fund -1.98%. (2024: +12.16%)

Recent changes in US international trade policy have impacted investment funds globally, including the above. In Quarter 1 of 2025/2026, however, there is evidence that funds are starting to recover. Nevertheless, these remain uncertain times for investors.

Where possible, we base our drawdown calculations on 3-year rolling average market values, which minimises the impact of shorter-term market volatility on the amount we are able to draw down to award as grants.

Page | 23

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

Financial Review

a. Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

b. Reserves policy

The aim of Kent Community Foundation is to benefit the local communities of Kent and Medway. An important way it does this is by encouraging individuals, businesses and funders to establish donor advised funds.

Generally, these funds are restricted for specific community grant making with a portion given over as a contribution towards the core running costs of the Foundation itself. This gives Kent Community Foundation a level of security in terms of regular income, but there are still some uncertainties as flow through funds and the value of endowed funds fluctuate from year to year.

Kent Community Foundation’s income tends to arise from a modest number of significant donations, rather than a large number of smaller donations. Given the amounts involved and the long-term nature of these funds, the trustees are mindful of the need to give stakeholders, particularly existing and potential donors, confidence that the charity has sufficient reserves to carry on its activities in the face of a shortfall of income or fluctuations in investment performance.

The trustees have considered the above and have agreed that the charity will retain a minimum of six months’ anticipated running costs as reserves. In addition, where possible, the trustees plan to hold a margin above this level of reserves to ensure Kent Community Foundation is in a position to respond quickly to, and invest in, new opportunities as and when they arise.

During the 2021-22 financial year, the trustees designated £150,000 of free reserves to fund the implementation of a new Salesforce database and Xero accounting software, with the aim of increasing productivity and efficiency, and creating a better user experience for all our stakeholders and staff.

Page | 24

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

These systems are now fully embedded and the designated fund is spent. Our operations have benefitted considerably from this investment, for example in streamlining processes thereby saving staff time, and in data analytical capability, so that we can more reliably assess our impact.

In July 2023 the Board designated £100,000 from reserves to cover the cost of a Senior Philanthropy Advisor role, with a focus on cultivating and raising awareness among professional advisers and their clients. At 31 March 2025, a balance of £37,009 remains unspent on this fund, which will be fully utilised in 2025/2026.

The level of free reserves at 31st March 2025 was £480,973 (2024: £445,720) which was the equivalent of 6.5 months operating costs. The trustees have considered this level of reserve and agreed it is appropriate given the above policy.

c. Principal funding

Our principal sources of funding are individuals, companies, charitable trusts and other organisations with an interest in the communities of Kent and Medway. Significant donations were received during the period from a number of charitable trusts, individuals, statutory bodies and corporations including:

d. Material investments policy

The Kent Community Foundation’s assets can be invested widely and diversified by asset class. Asset classes can include cash, bonds, UK and overseas equities, property, hedge funds, structured products, private equity, commodities and any other asset class deemed suitable for the Foundation.

The Foundation’s Trustees agree a suitable investment strategy which the appointed Investment Managers are required to follow, and this is monitored by the Investment Committee.

Page | 25

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

The Foundation’s Investment Managers concentrate on what they regard as good quality securities that can be invested in for the medium to long term. In order to meet their criteria, they take into account a number of factors and risks which may include environmental factors. They also meet, where possible, with the management of the companies they invest in, engage with them and vote on issues that they regard as material.

Responsible Investment Criteria

Kent Community Foundation recognises its own role in contributing to positive environmental and social change in the community. It therefore follows that investing in companies that are responsible, as well as stable and profitable, is important to Kent Community Foundation’s values and reputation, and can play an important part in meeting our financial objectives. The Foundation requires investment managers who work on its behalf to apply measures to analyse key risks and engage with, and if necessary disinvest from, investee companies which exceed tolerable risk levels.

General Exclusions

Kent Community Foundation will actively avoid or minimise its exposure to areas considered by the trustees to be in conflict with our objectives and values, specifically:

Armaments: we will not invest in companies involved in producing or providing core systems of controversial weapons (e.g. anti-personnel mines, cluster weapons, nuclear, chemical or biological weapon systems); we will not invest in companies deriving more than 10% of revenues from military armaments

Adult Entertainment : we will not invest in companies deriving more than 10% of revenues from production of adult entertainment.

Alcoholic beverages : we will not invest in companies deriving more than 10% of revenues from manufacturing alcoholic beverages.

Tobacco: we will not invest in companies involved in the production of tobacco products

Gambling : we will not invest in companies deriving more than 10% of revenues from owning or operating gambling establishments or online gambling enterprises

Predatory lending : we will not invest in companies engaged in predatory lending.

Page | 26

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

Environmental factors

Kent Community Foundation supports and wishes to contribute to the Paris Climate Agreement and the objective of net zero carbon. We also wish to align our investments with its environmental policy objectives, specifically:

Net Zero Carbon : Kent Community Foundation will expect its Investment Managers to have policies and strategies in place to achieve net zero carbon across their asset holdings by 2050, and in particular to engage with companies to encourage positive policies in this respect and if necessary to disinvest where progress is unsatisfactory.

Negative environmental impact : Kent Community Foundation wishes to avoid or limit investment exposure to companies whose processes or products involve high risk emissions or releases to land, water or air. Kent Community Foundation will work with investment managers who are applying appropriate monitoring and screening in this respect and will expect investment managers to engage with companies involved in high-risk activity and to disinvest if environmental behaviours are not improved.

Social and governance

Kent Community Foundation recognises the importance of good corporate governance and social responsibility and seeks to invest in companies which demonstrate these values, specifically:

• Kent Community Foundation will expect its investment managers to employ systems to assess the social and governance risks at play in investee companies (e.g. Sustainalytics) and to use these tools to avoid highest risk companies, and to identify companies with which to engage to promote improved corporate behaviours

• Kent Community Foundation wishes to avoid investment in companies which pose a high risk in terms of poor employment practices or failing to uphold standards of human rights among employees and other stakeholders both within its own operations and its supply chain

• Kent Community Foundation wishes to avoid investment in companies which pose high risks in terms of corporate governance, regulatory or legal shortcomings, or questionable business ethics such as corruption, anticompetitive, mis-selling etc.

Page | 27

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

We regularly review all ethical restrictions as part of our investment policy and ensure investments do not conflict with the Foundation’s charitable purposes. The trustees take a measured and objective approach to this process with advice from their investment managers and are maintaining transparent communication with donors and stakeholders about decisions made.

Structure, governance and management

a. Constitution

Kent Community Foundation is registered as a charitable company limited by guarantee and was set up by a Trust deed on 20 October 2000. The Company is also a registered Charity (number 1084361), registered on 5 January 2001.

Operations commenced during April 2001.

b. Method of appointment or election of Trustees

Trustees are appointed by the Board of Trustees in their capacities as members. The trustees follow an open recruitment process to encourage more diversity, although trustees retain the ability to recommend individuals of interest to the Board, informed by regular board skills audits.

c. Policies adopted for the induction and training of Trustees

New trustees undergo an initial induction to brief them on the role of a trustee, Kent Community Foundation's charitable purpose, strategy and priorities, finances, staffing and operations and any current issues. Thereafter, there is an annual trustee away day and other training is arranged as appropriate.

d. Pay policy for senior staff

Kent Community Foundation’s Staffing and Remuneration sub-committee considers and assesses pay levels for all staff, taking into account market conditions as well as individual roles and responsibilities. All decisions of the Staffing and Remuneration Committee are ratified by the Board of Trustees.

The trustees consider the Board of Trustees, the Chief Executive and the Director of Grants and Impact as the key management personnel of the charity, in charge of directing, controlling, running and operating the charity on a day-to-day basis.

Page | 28

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

All trustees give their time freely and no trustee remuneration was paid in the year. Details of the trustee expenses and related party transactions are disclosed in note 8 of the accounts.

The Staffing and Remuneration Committee review the pay of the Chief Executive and other senior management annually to ensure that the remuneration is fair and not out of line with that generally paid for similar roles.

e. Organisational structure and decision making

The Board of Trustees governs the Charity. The Chief Executive, supported by a team of (on average during the year) 16 paid staff, conducts the day-to-day business of the Charity, reporting to the board.

As of March 2025, the board consisted of 9 trustees and directors including the Chair and Vice Chair.

The Board of Trustees delegate responsibility to sub-committees in some areas such as:

All sub-committees have trustee membership and terms of reference which are regularly reviewed. Some committees also have trusted advisers who specialise in certain areas to add to the trustees’ skills and experience.

In 2025/2026 it is proposed to review the above committee structure and merge those with significant overlap in purpose, now that strategies and policies are fully formulated for each area.

All decisions made by sub-committees are reported back to the board at its quarterly meetings through the sharing of minutes.

Page | 29

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

f. Risk management

The trustees have assessed the major risks to which the company is exposed, and in particular those related to the operations and finances of the company and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Significant risks identified by the trustees are as follows:

Risk Mitigation
Insufficient
unrestricted
funds/reserves to
cover operations		 Prudent management of reserves which do not fall below 6
months’ running costs in accordance with the Charity’s reserves
policy, and careful monitoring of the Foundation’s financial
position on a regular basis bytrustees.
Challenges recruiting
new donors/Fund-
holders affecting fund
development,
especially endowment
growth		 Priority focus on fund development activities by staff and trustees.
Reputational risk if the
Foundation fails to
meet expectations		 Proactive client care strategies and high level of engagement.
Key person risk Continuing development of structure/operations and capacity to
avoid over reliance on one or two keyindividuals.
Loss in value of
endowments		 Close supervision and scrutiny of external investment fund
managers bythe Investment Committee.
Loss of funds due to
fraud		 Robust financial procedures policy, anti-bribery policy and grant
making policy reviewed and ratified regularly by the Board of
Trustees.
Risk to data security IT provider maintaining up to date security software, and data
protection procedures implemented from a robust data protection
policy, regularly reviewed by the board, to ensure compliance with
GDPR. The foundation also has Cyber Essentials accreditation
Failure to comply with
Charity and Company
law or regulatory
requirements		 Regular compliance activities scheduled and monitored by
Company Secretary. Support is provided by auditors regarding
reporting requirements. Regular board agenda items in place to
adhere to trustees’ responsibilities.
Loss of key senior
personnel		 Broadening the scope of roles in fund development and grant
management, and recruiting specialist finance and systems staff
members, to ensure that loss of a significant person has minimal
impact on the delivery of the Foundations charitable purposes,
financial wellbeingand the wellbeingof the staff team.

Page | 30

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

In all these areas the board is satisfied it has identified appropriate mitigating actions and reviews its risk register at quarterly meetings of the board.

The Foundation also carries comprehensive charities’ all risks insurance which underwrites potential financial costs or losses arising from a number of identified risks.

Future developments and Business Plan Objectives for 2025/2026

The Board of Trustees have agreed to carry forward the current 2022-2025 business plan objectives, excluding those already delivered, for a further year, so that our new Chief Executive will be able to lead on the development of a new plan.

Our objectives for 2025/2026 are therefore:

Secure minimum donations of £2.85m

Distribute grants of at least £3.2m

Fully embed our DEI strategy across the organisation

Begin developing our new 3-year business plan

Secure core funding over five years

Maintain a minimum of 6 months’ reserves policy

Complete and launch our brand re-fresh

The new Salesforce database and Xero accounting systems are now fully implemented and embedded. We have also reviewed and updated our processes and procedures to

reflect changes in practice and accommodate the additional facilities these systems have given us. In 2025/2026 we are continuing to develop functionality to further automate routine tasks and enable staff to concentrate on more value-added work, guided by the insights and efficiencies enabled by these systems.

Page | 31

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Trustees Report for the year ended 31 March 2025 (continued)

With the regretted departure of our Chief Executive, Josephine McCartney, we are acutely aware that 2025/2026 will be a year of risk to our income generation capacity. We welcome our newly appointed Chief Executive, Catherine Glover, and during the transition period the Finance and Audit sub-committee will meet more frequently with the specific aim of monitoring our income pipeline.

Following the departure of the Director of Operations, the Foundation has appointed two specialist staff members: Head of Finance and Governance, and Systems Manager to respond to the changing needs of the Foundation.

The Senior Philanthropy Adviser role appointed in 2023/2024 has brought new skills to the Development Team and is successfully generating referrals to add to our prospective donor pipeline.

Disclosure of information to auditors

Each of the persons who are trustees (who are also directors of the charity for the purposes of the Companies Act) at the time when this trustees' report is approved has confirmed that:

• so far as that trustee is aware, there is no relevant audit information of which the charitable company's auditor is unaware, and

• that trustees have taken all the steps that ought to have been taken as a trustee in order to be aware of any information needed by the charitable company's auditor in connection with preparing its report and to establish that the charitable company's auditor is aware of that information.

In preparing this report, the trustees have taken advantage of the small companies’ exemptions provided by section 415A of the Companies Act 2006.

Approved by order of the members of the board of trustees and signed on their behalf by:

Robert Sackville-West DL Dated: 5th September 2025 (Chair of Trustees)

Page | 32

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Statement of trustees' responsibilities

For the year ended 31 March 2025

The trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Page | 33

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Independent auditors' report to the Trustees of Kent Community Foundation

Opinion

We have audited the financial statements of Kent Community Foundation (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. 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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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.

Page 34

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Independent auditors' report to the Trustees of Kent Community Foundation (continued)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Opinion 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 our 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 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.

Page 35

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Independent auditors' report to the Trustees of Kent Community Foundation (continued)

Auditors' 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 Auditors' 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:

Based on our understanding of the charitable company and industry, and through discussion with the trustees and other management (as required by auditing standards), we identified that the principal risks of noncompliance with laws and regulations related to health and safety, anti-bribery and employment law. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and taxation legislation. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to management bias in accounting estimates and judgemental areas of the financial statements. Audit procedures performed by the engagement team included:

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

Page 36

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Independent auditors' report to the Trustees of Kent Community Foundation (continued)

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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 Auditors' 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Kreston Reeves LLP

Samantha Rouse FCCA DChA (Senior statutory auditor)

for and on behalf of Kreston Reeves LLP

Chartered Accountants Statutory Auditor Canterbury

6 September 2025

Page 37

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Statement of financial activities (incorporating income and expenditure account) For the year ended 31 March 2025

Note
Income and
endowments from:
Donations and
legacies:
3
Donations and grants
Operational
contribution (internal
cross-charging)
Fees from external
funds
Investments
4
Total income and
endowments
Expenditure on:
Raising funds
5
Charitable activities
7
Total expenditure
Net
income/(expenditur
e) before net
(losses)/gains on
investments
Net (losses)/gains on
investments
Net income/
(expenditure)
Transfers between
funds
16
Net movement in
funds
Reconciliation of
funds:
Total funds brought
forward
Net movement in funds
Total funds carried
forward		 Endowment
funds
2025
£
1,049,172
-
-
-
1,049,172
-
10,000
10,000
1,039,172
(1,472,258)
(433,086)
534,450
101,364
29,720,363
101,364
29,821,727		 Restricted
funds
2025
£
1,896,894
-
-
1,605,527
3,502,421
-
3,738,326
3,738,326
(235,905)
-
(235,905)
(534,450)
(770,355)
4,653,101
(770,355)
3,882,746		 Unrestricted
funds
2025
£
78,303
685,376
14,912
153,013
931,604
118,620
832,228
950,848
(19,244)
-
(19,244)
-
(19,244)
537,226
(19,244)
517,982		 Total
funds
2025
£
3,024,369
685,376
14,912
1,758,540
5,483,197
118,620
4,580,554
4,699,174
784,023
(1,472,258)
(688,235)
-
(688,235)
34,910,690
(688,235)
34,222,455		 Total
funds
2024
£
4,823,750
719,134
13,962
1,299,006
6,855,852
121,685
5,383,099
5,504,784
1,351,068
2,121,924
3,472,992
-
3,472,992
31,437,698
3,472,992
34,910,690

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 41 to 61 form part of these financial statements.

Page 38

KENT COMMUNITY FOUNDATION

(A company limited by guarantee) Registered number: 04088589

Balance sheet As at 31 March 2025

2025 2025 2024
Note £ £
Fixed assets
Tangible assets 11 - -
Investments 12 30,364,213 30,283,934
30,364,213 30,283,934
Current assets
Debtors due after more than 1 year 13 416,769 473,753
Debtors due within 1 year 13 248,914 242,183
Investments 14 68,004 95,198
Cash at bank and in hand 3,831,169 4,571,193
4,564,856 5,382,327
Creditors: amounts falling due within one
year 15 (706,614) (755,571)
Net current assets 3,858,242 4,626,756
Total assets less current liabilities 34,222,455 34,910,690
Total net assets 34,222,455 34,910,690
Charity funds
Endowment funds 16 29,821,727 29,720,363
Restricted funds 16 3,882,746 4,653,101
Unrestricted funds 16 517,982 537,226
Total funds 34,222,455 34,910,690

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:

Robert Sackville West DL (Trustee) Date: 5 September 2025

The notes on pages 41 to 61 form part of these financial statements.

Page 39

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Statement of cash flows
For the year ended 31 March 2025
Note
Cash flows from operating activities
Net cash used in operating activities
19
Cash flows from investing activities
Dividends, interests and rents from investments
Proceeds from sale of investments
Purchase of investments
Net cash provided by investing activities
Cash flows from financing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
20
The notes on pages 41 to 61 form part of these financial statements		 2025
£
(924,947)
1,758,540
95,550
(1,669,167)
184,923
-
-
(740,024)
4,571,193
3,831,169		 2024
£
461,468
1,299,006
313,183
(1,516,170)
96,019
-
-
557,487
4,013,706
4,571,193

Page 40

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2025

1. General information

Kent Community Foundation is a charitable company, limited by guarantee, domiciled in England and Wales, registration number 04088589. The registered office is Evegate Park Barn, Evegate, Smeeth, Ashford, Kent, TN25 6SX.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Kent Community Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The charity's functional and presentational currency is in Pounds Sterling.

The charity's financial statements are presented to the nearest pound.

2.2 Company status

The company is a company limited by guarantee. The members of the company are the trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.

2.3 Going concern

The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

Page 41

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2025

2. Accounting policies (continued)

2.4 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charitable company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charitable company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Endowment funds represent those assets held in the long term by the charity, principally investments. In accordance with the trust deed and donors' wishes the capital is expendable, that is the capital can be converted into income at the discretion of the trustees in the furtherance of the charitable objectives. Income arising on endowment fund can be used in accordance with the objectives of the charity and included in restricted income. Any capital gains and losses arising and the investment management charges and legal advice relating to the fund are charged against the fund.

Investment income, gains and losses are allocated to the appropriate fund.

2.5 Income

All income is recognised once the charitable company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of the legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

For donations received subject to match funding arrangements the additional funding received is recognised at the time of the initial donation, unless any conditions are attached.

Donations other than in the form of cash are recorded at fair value as at the date of the donation.

Page 42

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2025

2. Accounting policies (continued)

2.6 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit 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. All expenses including support costs and governance costs are allocated to the applicable expenditure headings.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Head office. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to governance of the company apportioned to charitable activities.

Expenditure on raising funds includes all expenditure incurred by the charitable company to raise funds for its charitable purposes and includes costs of all fundraising activities events and noncharitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charitable company's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

2.7 Tangible fixed assets and depreciation

All assets over £1,000 are capitalised.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the statement of financial activities incorporating income and expenditure account.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the costs of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Office equipment - 33.3% straight line

Page 43

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2025

2. Accounting policies (continued)

2.8 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

Current asset investments include cash or other short-term liquid investments with a short maturity of more than three months but less than one year, held for investment purposes.

2.9 Operating leases

Rentals paid under operating leases are charged to the Statement of financial activities on a straight line basis over the lease term.

2.10 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.11 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.12 Liabilities and provisions

Liabilities 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.

Liabilities are recognised at the amount that the charitable company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

Page 44

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2025

2. Accounting policies (continued)

2.13 Financial instruments

The charity enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable in non-puttable ordinary shares.

Investments in non-convertible preference shares and in non-puttable ordinary and preference shares are measured at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.14 Pensions

The charitable company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charitable company to the fund in respect of the year.

2.15 Value Added Tax

Value Added Tax (VAT) is not recoverable by Kent Community Foundation, and as such is included in the relevant costs in the statement of financial activities.

Page 45

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2025

2. Accounting policies (continued)

2.16 Social investments

The objective of the Kent Social Enterprise Loan Fund is to support existing and emerging enterprises through the making of grants and concessionary loans. These loans are made or received by the charity to further its purposes and any interest charged is below prevailing market rates.

Kent Community Foundation has opted to initially recognise and measure the loans at the amount received or paid, with the carrying amount adjusted in subsequent years to reflect repayments and any accrued interest and adjusted if necessary for any impairment. Fees and interest are deemed to be restricted income, to be utilised in the making of future loans in accordance with the fund objectives.

If Kent Community Fund consider that there is an objective evidence of impairment, for example a default on repayments due or evidence of significant financial difficulty in the entity in which the investment has been made, then an immediate impairment loss is recognised in the statement of financial activities as a cost within expenditure on charitable activities. The impairment is measured on the same basis as other investments or financial assets.

Amounts due for repayment after more than 12 months from the balance sheet date are shown as long-term debtors within current assets.

2.17 Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires the trustees to make judgements, estimates and assumptions that can affect the amounts reported for assets and liabilities, and the results for the year. The nature of estimation is such though that actual outcomes could differ significantly from those estimates.

The material judgements, estimates or assumptions that have had significant impact on amounts recognised in the financial statements are:

Investment valuations

Investment valuations are obtained by trustees from the investment managers, who utilise the closing quoted market price information available at the balance sheet date.

Impairment of social investment debtors

The charity makes an estimate of the recoverable value of social investment debtors. When assessing the impairment of the social investment debtors, management considers factors including the current credit rating of the debtor, the ageing profile of the debtors and historical experience. See note 13 for the net carrying amount of social investment debtors.

Page 46

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2025

3. Income from donations and legacies

Donations
Donations and grants
Operational contribution
(internal cross-charging)
Fees from external funds
Total 2024		 Endowment
funds
2025
£
1,049,172
-
-
1,049,172
1,469,942		 Restricted
funds
2025
£
1,896,894
-
-
1,896,894
3,340,894		 Unrestricted
funds
2025
£
78,303
685,376
14,912
778,591
746,010		 Total
funds
2025
£
3,024,369
685,376
14,912
3,724,657
5,556,846		 Total
funds
2024
£
4,823,750
719,134
13,962
5,556,846

From time to time, Kent Community Foundation receives substantial one-off donations to set up donor advised funds. This can mean that income from donations and grants is subject to fluctuations from year to year.

4. Investment income

Investment income
Bank interest
KSELF Income
Total 2024		 Restricted
funds
2025
£
1,588,544
-
16,983
1,605,527
1,078,290		 Unrestricted
funds
2025
£
12,325
140,688
-
153,013
220,716		 Total
funds
2025
£
1,600,869
140,688
16,983
1,758,540
1,299,006		 Total
funds
2024
£
1,175,123
110,358
13,525
1,299,006

Page 47

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2025

5. Expenditure on raising funds

Costs of raising voluntary income

Other staff costs
Rent & rates
Marketing & advertising
Sundries
Office costs
IT support
Insurance
Bank charges
Subscriptions
Book keeping
Legal & professional
Travel
Wages and salaries
Employer's NI
Pensions
Staff Training
Total 2024		 Unrestricted
funds
2025
£
39
6,741
4,167
935
2,235
6,569
280
129
3,916
4,140
2,359
766
73,355
6,937
5,071
981
118,620
121,685		 Total
funds
2025
£
39
6,741
4,167
935
2,235
6,569
280
129
3,916
4,140
2,359
766
73,355
6,937
5,071
981
118,620
121,685		 Total
funds
2024
£
40
6,747
3,749
952
2,281
2,939
241
116
3,022
3,783
26
661
81,987
8,323
6,220
598
121,685

Page 48

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2025

6. Analysis of grants

Community First Grant-making
Grants
Total 2024		 Grants to
Institutions
2025
£
233,226
2,657,289
2,890,515
3,736,431		 Grants to
Individuals
2025
£
-
91,022
91,022
72,524		 Total
funds
2025
£
233,226
2,748,311
2,981,537
3,808,955		 Total
funds
2024
£
324,424
3,484,531
3,808,955

From time to time, Kent Community Foundation makes large one-off donations from donor-advised funds which can mean Grants payable is subject to significant fluctuation from year to year.

A list of the recipients of significant grants made to institutions is available on request from the charity's registered office and is available on the charity's website: www.kentcf.org.uk

Page 49

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2025

7. Costs of charitable activities

Grants payable (See note 6)
Operational contribution
KSELF operational contribution
KBSF bad debt write off
Operational staff costs and
pensions - grants team
Other staff costs
Rent & Rates
Marketing & advertising
Sundries
Office costs
IT support
Insurance
Bank charges
Subscriptions
Book keeping
Travel
Events
Legal & professional
Salaries and pensions
Staff training
Designated IT strategy costs
Audit fees
Designated senior philanthropy
adviser costs
Total 2024		 Endowment
funds
2025
£
-
10,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
10,000
24,503		 Restricted
funds
2025
£
2,981,537
581,637
96,983
78,169
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3,738,326
4,515,579		 Unrestricted
funds
2025
Total
funds
2025
Total
funds
2024
£
£
£
-
2,981,537
3,808,955
-
591,637
636,045
-
96,983
95,082
-
78,169
-
362,580
362,580
341,110
221
221
226
38,197
38,197
38,231
23,613
23,613
21,246
5,296
5,296
5,393
12,667
12,667
12,924
37,229
37,229
16,652
1,586
1,586
1,366
732
732
655
22,190
22,190
17,124
23,458
23,458
21,436
4,341
4,341
3,747
7,853
7,853
12,706
13,370
13,370
146
206,757
206,757
188,947
5,557
5,557
3,388
6,394
6,394
131,432
12,084
12,084
11,400
48,103
48,103
14,888
832,228
4,580,554
5,383,099
843,017
5,383,099

8. Auditors' remuneration

Fees payable to the charitable company's auditor for the audit of the charitable company's annual accounts

2025 2024
£ £
11,800 11,400

Page 50

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2025

9. Staff costs

Wages and salaries
Social security costs
Pension costs		 2025
£
595,447
56,342
51,014
702,803		 2024
£
541,733
51,117
48,625
641,475

The average number of persons employed by the charitable company during the year was as follows:

2025 2024
No. No.
Employees 17 16

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2025 2024
No. No.
In the band £60,001 - £70,000 1 -
In the band £70,001 - £80,000 1 -
In the band £80,001 - £90,000 - 1

The total salaries received by key management personnel was £180,141 (2024: £188,426). Employer pension contributions were a total of £15,873 (2024: £17,106) and employer national insurance contributions were a total of £21,198 (2024: £22,237).

10. Trustees' remuneration and expenses

During the year, no trustees received any remuneration or other benefits (2024 - £NIL) .

During the year ended 31 March 2025, no trustee expenses have been incurred (2024 - £NIL) .

Page 51

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Notes to the financial statements
For the year ended 31 March 2025
11.
Tangible fixed assets
Cost or valuation
At 1 April 2024
At 31 March 2025
Depreciation
At 1 April 2024
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024
12.
Fixed asset investments
Cost or valuation
At 1 April 2024
Additions
Disposals
Revaluations
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Office
equipment
£
11,363
11,363
11,363
11,363
-
-
Listed
investments
£
30,283,934
1,669,167
(95,550)
(1,493,338)
30,364,213
30,364,213
30,283,934

Page 52

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2025

12. Fixed asset investments (continued)

The total decrease of revaluations of £1,493,338 disclosed above includes £1,472,258 attributable to the charity and £21,080 attributable to client money held.

Investments at market value comprise of listed investments at £30,364,213 (2024: £30,283,934).

The market continues to demonstrate volatility post the year end.

13. Debtors

Due after more than one year
Loans
Due within one year
Loans
Other debtors		 2025
£
416,769
416,769
214,935
33,979
665,683		 2024
£
473,753
473,753
240,108
2,075
715,936

Loans consist of loans to borrowers issued through the Kent Social Enterprise Loan Fund.

14. Current asset investments

2025 2024
£ £
Unlisted investments 68,004 95,198

Page 53

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2025

15. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Client money held
Other creditors
Accruals		 2025
£
8,333
17,361
610,491
60,929
9,500
706,614		 2024
£
11,136
14,511
658,764
61,660
9,500
755,571

The Kent Community Foundation holds funds of £610,491 (2024: £658,764) in respect of the Spires Academy.

Page 54

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2025

16. Statement of funds

Statement of funds - current year

Unrestricted
funds
Designated
funds
IT Strategy
Senior
Philanthropy
Adviser
General funds
General Funds
Total
Unrestricted
funds
Endowment
funds
Grassroots
Funds
Endowment
Funds
Other
Endowment
Funds
Community First
Endowment
Funds for Kent		 Balance at 1
April 2024
£
6,394
85,112
91,506
445,720
537,226
5,622,454
15,215,153
8,882,756
29,720,363		 Income
£
-
-
-
931,604
931,604
105,114
944,058
-
1,049,172		 Expenditure
£
(6,394)
(48,103)
(54,497)
(896,351)
(950,848)
-
(10,000)
-
(10,000)		 Transfers
in/out
£
-
-
-
-
-
-
534,450
-
534,450		 Gains/
(Losses)
£
-
-
-
-
-
(222,181)
(620,234)
(629,843)
(1,472,258)		 Balance at
31 March
2025
£
-
37,009
37,009
480,973
517,982
5,505,387
16,063,427
8,252,913
29,821,727

Page 55

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2025

16. Statement of funds (continued)

Restricted
funds
Donor Advised
Funds -
Individuals and
Trusts
Donor Advised
Funds -
Corporate
Miscellaneous
Funds
Big Lottery Fund
Kent Social
Enterprise
Loan Fund
Total of funds		 Balance at 1
April 2024
£
2,339,760
421,720
426,647
778,868
686,106
4,653,101
34,910,690		 Income
£
2,472,933
803,177
170,815
20,588
34,908
3,502,421
5,483,197		 Expenditure
£
(2,185,841)
(798,413)
(512,346)
(166,058)
(75,668)
(3,738,326)
(4,699,174)		 Transfers
in/out
£
(663,992)
(15,276)
144,818
-
-
(534,450)
-		 Gains/
(Losses)
£
-
-
-
-
-
-
(1,472,258)		 Balance at
31 March
2025
£
1,962,860
411,208
229,934
633,398
645,346
3,882,746
34,222,455

In 2024, the trustees agreed to ring fence £100,000 from free reserves in order to fund a Senior Philanthropy Advisor position.

Endowment funds relate to amounts received from philanthropists who want to provide a lasting legacy for their local community. The income received on endowment funds is treated as restricted income, to be expended in accordance with the criteria of each fund as agreed by the donors.

In addition the charity receives donations from donors which are treated as restricted funds to be expended in accordance with the wishes of the donor concerned. Details of the grant-making criteria for funds available for application from the community are publicised on the Kent Community Foundation website. Timing differences between receiving restricted donations and making grants can result in variances in net incoming resources from year to year.

The object of KSELF and the Big Lottery Fund is to support existing and emerging social enterprises with grants and loans.

Page 56

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2025

16. Statement of funds (continued)

Statement of funds - prior year

Unrestricted
funds
Designated
funds
IT Strategy
Senior
Philanthropy
Adviser
General funds
General Funds
Total
Unrestricted
funds
Endowment
funds
Grassroots
Funds
Endowment
Funds
Other
Endowment
Funds
Community First
Endowment
Funds for Kent		 Balance at
1 April 2023
£
137,826
-
137,826
507,734
645,560
5,129,762
13,048,952
8,216,741
26,395,455		 Income
£
-
-
-
856,368
856,368
125,000
1,344,942
-
1,469,942		 Expenditure
£
(131,432)
(14,888)
(146,320)
(818,382)
(964,702)
(8,878)
(15,625)
-
(24,503)		 Transfers
in/out
£
-
100,000
100,000
(100,000)
-
-
(148,135)
(94,320)
(242,455)		 Gains/
(Losses)
£
-
-
-
-
-
376,570
985,019
760,335
2,121,924		 Balance at
31 March
2024
£
6,394
85,112
91,506
445,720
537,226
5,622,454
15,215,153
8,882,756
29,720,363

Page 57

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2025

16. Statement of funds (continued)

Restricted
funds
Donor Advised
Funds -
Individuals and
Trusts
Donor Advised
Funds -
Corporate
Miscellaneous
Funds
Big Lottery Fund
Kent Social
Enterprise
Loan Fund
Total of funds		 Balance at
1 April 2023
£
1,308,237
753,746
725,977
941,408
667,315
4,396,683
31,437,698		 Income
£
2,998,162
721,863
743,892
23,834
41,791
4,529,542
6,855,852		 Expenditure
£
(2,008,741)
(1,064,436)
(1,233,028)
(186,374)
(23,000)
(4,515,579)
(5,504,784)		 Transfers
in/out
£
42,102
10,547
189,806
-
-
242,455
-		 Gains/
(Losses)
£
-
-
-
-
-
-
2,121,924		 Balance at
31 March
2024
£
2,339,760
421,720
426,647
778,868
686,106
4,653,101
34,910,690

17. Summary of funds Summary of funds - current year

Designated
funds
General funds
Endowment
funds
Restricted funds		 Balance at 1
April 2024
£
91,506
445,720
29,720,363
4,653,101
34,910,690		 Income
£
-
931,604
1,049,172
3,502,421
5,483,197		 Expenditure
£
(54,497)
(896,351)
(10,000)
(3,738,326)
(4,699,174)		 Transfers
in/out
£
-
-
534,450
(534,450)
-		 Gains/
(Losses)
£
-
-
(1,472,258)
-
(1,472,258)		 Balance at
31 March
2025
£
37,009
480,973
29,821,727
3,882,746
34,222,455

Page 58

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2025

17. Summary of funds (continued)

Summary of funds - prior year

Designated
funds
General funds
Endowment
funds
Restricted funds		 Balance at
1 April 2023
£
137,826
507,734
26,395,455
4,396,683
31,437,698		 Income
£
-
856,368
1,469,942
4,529,542
6,855,852		 Expenditure
£
(146,320)
(818,382)
(24,503)
(4,515,579)
(5,504,784)		 Transfers
in/out
£
100,000
(100,000)
(242,455)
242,455
-		 Gains/
(Losses)
£
-
-
2,121,924
-
2,121,924		 Balance at
31 March
2024
£
91,506
445,720
29,720,363
4,653,101
34,910,690

18. Analysis of net assets between funds

Analysis of net assets between funds - current year

Fixed asset investments
Debtors due after more than one year
Current assets
Creditors due within one year
Total		 Endowment
funds
2025
£
29,821,727
-
-
-
29,821,727
year
Endowment
funds
2024
£
29,720,363
-
-
-
29,720,363		 Restricted
funds
2025
Unrestricted
funds
2025
£
£
542,486
-
416,769
-
3,533,982
614,105
(610,491)
(96,123)
3,882,746
517,982
Restricted
funds
2024
Unrestricted
funds
2024
£
£
563,571
-
473,753
-
4,274,541
634,033
(658,764)
(96,807)
4,653,101
537,226		 Total
funds
2025
£
30,364,213
416,769
4,148,087
(706,614)
34,222,455
Total
funds
2024
£
30,283,934
473,753
4,908,574
(755,571)
Analysis of net assets between funds - prior
Fixed asset investments
Debtors due after more than one year
Current assets
Creditors due within one year
Total
34,910,690

Page 59

KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2025

19. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/expenditure for the year (as per Statement of Financial
Activities)
Adjustments for:
(Gains)/losses on investments
Dividends, interests and rents from investments
(Increase)/decrease in debtors
Decrease in creditors
Net cash provided by/(used in) operating activities
20.
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents
21.
Analysis of changes in net debt
At 1 April
2024
£
Cash at bank and in hand
4,571,193
Liquid investments
95,198
4,666,391		 2025
£
(688,235)
1,520,532
(1,758,540)
50,253
(48,957)
(924,947)
2025
£
3,831,169
3,831,169
Cash flows
£
(740,024)
(27,194)
(767,218)		 2024
£
3,472,992
(1,666,378)
(1,299,006)
(29,699)
(16,441)
461,468
2024
£
4,571,193
4,571,193
At 31 March
2025
£
3,831,169
68,004
3,899,173

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KENT COMMUNITY FOUNDATION

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2025

22. Operating lease commitments

At 31 March 2025 the charitable company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years		 2025
£
42,730
15,730
2,840
61,300		 2024
£
45,963
49,441
-
95,404

23. Related party transactions

During the year the Kent Community Foundation supported a number of other charities and social enterprises which have one or more trustees in common with the Foundation. All such donations, grants or loans have been made in accordance with the same eligibility criteria as all other similar applications for support received.

Conversely, from time to time, Kent Community Foundation receives donations from charities which have one or more trustees who are also trustees of the Foundation or who are related to a trustee of the Foundation.

During the year the trustees donated £100,000 (2024: £100,000) plus gift aid totalling £25,000 (2024: £12,500) to the charity.

See note 9 of the financial statements for details of the key management personnel remuneration.

24. Controlling party

The charity is a company limited by guarantee and was controlled throughout the year by the trustees.

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