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← The Koestler Trust

2024-03-31-accounts

The Koestler Trust

Trustees’ Report for the year ended March 31st, 2024

TRUSTEES’ REPORT AND ACCOUNTS

FOR THE YEAR ENDED 31st MARCH 2024

Charity Number 01105759 Company Number 04961363

The Koestler Trust Trustees’ Report for the year ended March 31st, 2024

THE KOESTLER TRUST REPORT AND ACCOUNTS

CONTENTS

Page
Trustees’ Report 1 – 10
Independent Auditors’ Report 11 – 14
Consolidated Statement of Financial Activities 15
Consolidated Balance Sheet 16
Consolidated Cash Flow Statement 17
Notes to the Accounts 18 – 31

The Koestler Trust Trustees’ Report for the year ended March 31st, 2024

TRUSTEES’ REPORT

The Trustees, who are also directors of the Company for the purposes of the Companies Act, and trustees for charity law purposes, present their combined directors’ and trustees’ annual report with the financial statements of the Charity for the year ended 31[st] March 2024. The financial statements have been prepared in accordance with the accounting policies set out in Note 1 and comply with the Charity’s governing document, applicable law and the requirements of the Statements of Recommended Practice (FRS 102). The Company has taken advantage of the exemptions available to smaller entities.

LEGAL AND ADMINISTRATIVE DETAILS OF THE CHARITY

Charity number: 1105759 Company limited by guarantee number: 4961363 Principal and Registered address: Koestler Arts Centre, 170 Du Cane Road, London W12 0TX Telephone: 020 8740 0333 Email: info@koestlerarts.org.uk Website: www.koestlerarts.org.uk

Auditors:

Knox Cropper LLP, 65 Leadenhall Street, London EC3A 2AD

Trustees and Company Directors:

Sir Richard Heaton KCB (Chair) Andrea Rose (Vice Chair and Chair of the Arts sub-committee) Sally Bacon OBE (from 28 September 2023) Gary Badley Ariane Bankes (to 26 March 2024) Jasmin Booth (Treasurer and Chair of the Finance and HR sub-committee) Tom Campbell (Chair of the Koestler House sub-committee) Carl Hardwick Dr Nora Laraki Gary Mansfield (Chair of the Outreach and Involvement sub-committee) Page Nyame Satterthwaite Carrie Peters (from 29 June 2023) Nicola Solomons (to 19 May 2023)

Company Secretary and Chief Executive Officer:

Fiona Curran (Interim Chief Executive from 1 April 2023, Chief Executive from 1 June 2023)

Honorary President:

Ariane Bankes (from 28 March 2024)

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The Koestler Trust Trustees’ Report for the year ended March 31st, 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Koestler Trust (working name Koestler Arts) is governed by its Memorandum and Articles. Updated Articles of Association were adopted by special resolution passed on 14 December 2022.

The Board of Trustees met four times during the year and the Annual General Meeting was held on 13 December 2023.

The Board has four sub-committees, each of which provides oversight of specific aspects of the charity's work:

Staff management is underpinned by Support and Supervision meetings, where each member of staff meets one-to-one with their line manager every 4-6 weeks. The outcomes of these meetings are recorded in writing. Team meetings are held every three weeks. The Chief Executive’s Support and Supervision is provided by the Chair of Trustees. Probono HR support is provided by Ingeus.

RISK AND INTERNAL CONTROL

An overall risk assessment is reported annually to the Board of Trustees. This addresses specific aspects of infrastructure and activity, including data protection, health and safety, human resources, environmental impact and office fabric and equipment. Each of these areas is the responsibility of a designated member of staff, who reports regularly to the team meeting.

CHARITY OVERVIEW

The Koestler Trust, which uses the working name ‘Koestler Arts,’ was established in 1962. Our vision is that the power of the arts unlocks hope, talent and potential in the lives of people in the criminal justice system.

Our mission is to inspire participation in the arts by people in prisons and beyond, and to build public recognition of their creative work, fostering communities that support rehabilitation.

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The Koestler Trust Trustees’ Report for the year ended March 31st, 2024

We achieve our mission by working towards three goals:

We work with every prison and medium and high secure hospital in the UK, as well as young offender institutions, secure children’s homes, immigration removal centres, youth offending teams and probation services. We are unique in our nationwide reach — motivating people in Northern Ireland, Scotland, Wales and England, as well as British people who are imprisoned abroad, to participate in the arts. As well as our core programme, the annual Koestler Awards, we offer the only arts membership scheme for prisoners and the only multi-artform, arts mentoring for prison-leavers in England and Wales. Our programmes are open to anyone who is in custody or is supervised in the community, whether they are engaged with prison education classes or not. Our exhibitions and events around the UK, online showcasing, and publications offer opportunities for members of the public to see beyond the prison walls and experience this rich and diverse creativity. This helps build communities that are more likely to support resettlement and rehabilitation.

The charity’s small, dedicated team is based at our office next to HM Prison Wormwood Scrubs in London. From here we deliver programmes across the UK and online, while raising the funds each year to enable our important work to continue.

CHARITABLE OBJECTS

As registered with the Charity Commission, the Charity’s charitable objects are: ‘for the advancement of the arts and education and for purposes beneficial to the community: a) to promote the creative enterprise of inmates and former inmates of prisons, young offender institutions, secure units and any other establishment for the lawful detention of individuals including patients and former patients in high security psychiatric and other hospital units in the United Kingdom ("the institution") and those subject to non-custodial orders in the United Kingdom and persons subjected to similar regimes outside the United Kingdom in the fields of the visual and performing arts, sciences, crafts or trades by the provision of awards to such persons and groups of persons for meritorious work and the exhibition of their work; and b) to institute or support worthwhile artistic or creative projects at any of the institutions which aim to stimulate the education or skills of such persons and to assist in their rehabilitation and resettlement in society.’

The Trustees refer to the guidance contained in the Charity Commission general guidance on public benefit when reviewing the aims and objectives and in planning future activities. In particular, the Trustees consider how planned activities will contribute to our vision and mission.

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The Koestler Trust Trustees’ Report for the year ended March 31st, 2024

ACTIVITIES AND ACHIEVEMENTS 2023-24

A year of change

The new Koestler Arts Centre on the grounds of HM Prison Wormwood Scrubs, London.

In January 2024 the charity moved into the new Koestler Arts Centre. This bright, welcoming building was constructed from used shipping containers by Container City and increases our ability to respond to creative work sent to us from across the UK. There was no gap in our service provision while we moved in: the 2023 entries were returned from the old building and the 2024 Koestler Awards entries were received into the new building. We are planning new ways to make our building work for us, including hosting corporate partners for volunteering days, supporter events and public displays. Most importantly, the arts processing area makes for a more efficient space to respond to thousands of artworks. The team is grateful to past staff, committee members and the many people who gave their advice and time during this transformative project.

Special thanks are due to: Arts Council England, Paul Hamlyn Foundation, HMPPS, The Clothworkers’ Foundation, The 29th May 1961 Charitable Trust, Garfield Weston Foundation, Bernard Sunley Foundation, The Mila Charitable Organisation, Tudor Trust, Artists' Collecting Society (ACS), The Murray family, Patrick Holmes, Sally Zimmermann, David Banks, Ariane Bankes, Marie Golding, John and Carol Wates and The de Laszlo Foundation.

In June 2023, after an open recruitment process, Fiona Curran was appointed Chief Executive. Fiona has been part of our management team since 2009, leading our showcasing programmes and the Koestler Awards process. Throughout 2023-24, Fiona has led the trustees and staff in considering participant and other stakeholder feedback, developing new ideas and assessing opportunities and challenges, towards building a new five-year strategic plan.

We worked with Splitpixel Ltd to launch a new website this year. The new site makes it easier for entrants, the public and supporters to get involved and access artistic

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The Koestler Trust Trustees’ Report for the year ended March 31st, 2024

inspiration. Entrants and other audiences can now view video tips from Awards judges; ‘Art Aid’ entrant-produced activity resources; galleries of award-winning entries; and past entrants’ inspirational stories of change. Prisons as far away as Columbia have let us know that they have used resources from the new site.

There were several other staff and board changes during the year, including a new Development Director, Stephanie Weber, and a new Director of Arts, Phoebe Dunn, joining the management team. We welcomed volunteers as Koestler Awards judges and feedbackwriters, and to help us process artwork through the annual cycle.

Inspiring Futures , An Evaluation of the Meaning and Impact of Arts Programmes in Criminal Justice Settings , research led by the National Criminal Justice Arts Alliance and the University of Cambridge, of which we were a partner, was launched in March 24. The report examines the impact of the arts in prisons, over several years and artforms, on participants, staff and the public. The outcomes reinforce what our participants, mentees and the professionals working with them tell us:

‘many of the men and women who took part spoke of how the programmes brought personal, social and creative benefits to their present lives and inspired new ways of envisioning their futures.’

Inspiring participation in the arts by people in prisons and beyond

Entries to the Koestler Awards being processed and given feedback by volunteers

3,957 people (29% increase on 2022) entered the 2023 Koestler Awards, submitting 8,165 pieces of writing, craft, fine art, design and music. 316 criminal justice settings participated. 1,698 people took part for the first time. We annually survey our entrants to hear their views on our work and to learn more about the impact participating in the Koestler Awards and our other programmes makes:

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The Koestler Trust Trustees’ Report for the year ended March 31st, 2024

Koestler Arts provides people in custody with one of the only ways of interacting with the outside world. The most common reasons respondents to our survey gave for entering the Koestler Awards were to ‘get feedback (63%)’ and ‘to get my work seen (48%).’

In 2023-24 over £30,000 was allocated in prize money to Koestler Awards entrants by 76 awards judges, including Jeremy Deller, Coco Sato, Jenny Éclair, Misan Harriman, Hot Chip, and previous Koestler Awards entrants and mentees. Access Stipends totalling £3,750 were distributed across the judging panels to ensure that our awards judges came from a range of backgrounds, including people with lived experience of prison (19%).

Despite the increase in entry numbers, we were able to send more participants written feedback from our staff, volunteers, awards judges and the public than the previous year — with 88% receiving at least one piece. This is particularly important as our entrants tell us that receiving feedback is one of the most impactful parts of participating in the Koestler Awards.

‘It gave me confidence in myself and my work. I found it very personal and such a caring touch.’

Entrant’s comment on receiving feedback on his/her work

Fifteen establishment visits were delivered during the year, several of them by someone who has experience of imprisonment. These visits help recognise the achievements of existing participants and encourage people to engage with our programmes for the first time. 35 prison and hospital art tutors attended our Art Tutors’ Seminar in November at Southbank Centre. As well as offering educators an opportunity to exchange learning and ideas, it was a chance for us to discuss plans for the new strategy, including ways in which we could digitalise more of the Koestler Awards process.

Over 750 ‘Associates’ were actively engaged in our free membership programme for people in prisons and beyond during the year. Our Associates were offered the chance to engage in two creative challenges. One challenge was to design bookmarks to be sent with copies of our new poetry anthology as a thank-you to its crowdfunding supporters. The other was to create a postcard for our ‘Postcards from Prisons’ fundraising lottery event, which offered supporters an artwork by a Koestler Awards participant or a professional artist (including Grayson Perry RA, Haroon Mirza, Jeremy Deller and Vanessa Jackson RA). We plan to offer our Associates the opportunity to participate in three further creative tasks in 2024-25, one of which is made possible by an individual’s generous support.

We provided mentoring for 23 people this year, supporting them to continue in the arts after release from prison. Over 231 mentees have now benefited from this unique, bespoke programme across England and Wales. As Koestler Arts Mentoring approaches 20 years of delivery, we are welcoming former mentees back as mentors, eager to share their experiences and guide a new generation.

We sold over 200 original artworks this year, online and at our Pop-Up Shop, with income going to participants, motivating them to keep creating, to Koestler Arts and Victim Support. The works also found homes in offices and houses around the country — each piece an ambassador for the good that can come out of positive activity in the criminal justice system.

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The Koestler Trust

Trustees’ Report for the year ended March 31st, 2024

Fostering communities that support rehabilitation

Standing on the Edge at the John Hansard Gallery, Southampton

This year we produced two exhibitions, two poetry events, a theatre event, and a new poetry anthology. We also presented work by mentees and past participants at the Affordable Art Fair and Chiswick Book Fair.

In July, our team worked with ten men at HM Prison Isle of Wight to co-curate our first exhibition of work from the South West and Hampshire, held in partnership with the John Hansard Gallery in Southampton. The learners took part in four days of curating sessions, considering all entries to the Koestler Awards from the area. Their beautiful exhibition, which they titled Standing on the Edge , ran from October 2023 to January 2024.

Joelle Taylor, a T.S. Eliot Award-winning poet, selected work from across the UK for our annual exhibition, which she titled IN CASE OF EMERGENCY. The show was held at the Southbank Centre from November to December 2023. Joelle’s selection included around 180 pieces of music, writing, and visual art. The exhibition was opened by the then Minister of State for Prisons, the Rt Hon Damian Hinds MP and later visited by his successor in that post, the Rt Hon Edward Argar MP.

Over 15,000 people visited these shows in person, with more than 5,500 vote/feedback cards completed. Thousands more people engaged with Koestler Awards artwork through our vibrant social media output and our new website, which featured exhibition films and image galleries.

‘Very impressive. Just shows what people are capable of achieving when given some help.’

‘Gives people a voice that were not being listened to — but we now hear and see them.’

Exhibition visitors

We held three Friends & Family Days during our UK exhibition at Southbank Centre, and one at the regional exhibition in Southampton. Participating artists’ friends and family members were supported to attend the events with tours, activities, delicious catering,

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The Koestler Trust Trustees’ Report for the year ended March 31st, 2024

and help with travel costs. These annual events are a chance to celebrate the positive achievements of loved ones and to enjoy inspiring art together with others.

‘Today has meant a lot. To have my son’s music played at an exhibition has made me so proud. I hope that having this experience, and being recognised and rewarded for something he loves doing, will give my son the inspiration and drive he needs to stay out of prison and have a successful life ahead.’

Friends & Family Day attendee

Two people with lived experience of prison led the delivery of our free public exhibition tours at the Southbank Centre, giving visitors more information about the artwork and the arts in the criminal justice system.

Our team also produced a beautiful anthology of poetry that was entered into the Koestler Awards in 2022 and 2023. Copies of the book were sent to every prison library and sold at exhibitions and online. We partnered with Synergy Theatre Project to present stage plays from the 2023 Awards at the Royal Court Theatre and our sell-out spoken word and poetry event, Voices from Prison, took place at the Southbank Centre in November.

In 2024-25, we will make the final payments on our new building and complete the fit-out of the new space. We will roll out a new fundraising database and further develop our new Patrons Programme. Our team will aim to build partnerships with business supporters and use our new building to increase the number of public and corporate volunteering days. We look forward to producing two exhibitions: a UK showcase curated by artists Jeremy Deller and John Costi (who is a past Koestler Award-winner) at Southbank Centre, London and a North East of England showcase at Baltic, Gateshead, curated by women in HM Prison Low Newton.

FINANCIAL REVIEW

Our consolidated income in 2023-24 was £813,554. Despite high inflation, we were able to make efficiencies this year by reducing print and exhibition furniture production, securing in-kind and pro-bono support, and maintaining strong partnerships. These changes, as well as pausing some staff recruitment while the new Chief Executive worked on our strategy, and the completion of our capital project, made both our income and our expenditure lower than in recent years. We ended the year with a small, manageable deficit.

Our largest supporter was again Paul Hamlyn Foundation, with their 2023-24 grant providing an invaluable foundation for the team’s fundraising efforts to build upon. Government funding remained at a similar level to previous years. We were pleased to be part of the Arts Council England National Portfolio again through a new agreement for the period 2023-2026, with a grant of £76,380 per year. We also entered into another threeyear agreement with HMPPS. Our trustees and leadership team observe that standstill funding levels present a growing challenge for the Charity, as our costs continue to increase.

Trust and foundations remain the largest source of our income. However, like many charities, we are finding this funding increasingly difficult to secure. In this context, we are particularly grateful to our Scholarship funders, William Arthur Rudd Memorial Trust and Maingot Charitable Trust, for increasing their ongoing support, and to the Bromley Trust for the last donation of their 2022-24 Scholarship grant. The Marie-Louise von Motesiczky Charitable Trust, a longstanding supporter, funded new Scholarships in 2023-24 and agreed funding till 2027-28. We are honoured to count on the endorsement and legacy

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The Koestler Trust Trustees’ Report for the year ended March 31st, 2024

of these foundations, giving more prison-leavers the opportunity to find new beginnings through the arts. In this financial year, we were also grateful to receive support from the Monday Charitable Trust, AB Charitable Trust, Leon Kossoff Estate, T.S. Eliot Foundation, Taurus Foundation, Valentine Charitable Trust, and several smaller grants by foundations and art societies — all incredibly impactful in this difficult funding landscape.

In terms of corporate support, we were delighted to again count on ongoing partnerships with Sodexo, Serco, Elysium and CCLA Investment Management. We were pleased to again receive a donation from Doughty Street Chambers, as one of their donations committee’s selected charities.

It was encouraging to see strong levels of donations from supporters, despite the cost-ofliving crisis. The team has built longstanding relationships with many individuals who ensured the success of our fundraising projects in 2023-24, including the Postcards from Prison event, anthology crowdfunder, and the named Koestler Awards. In the autumn, we auctioned a drawing generously donated by Sir Antony Gormley, the curator of our UK exhibition in 2017.

Legacies and major donations from individuals are not, to date, a regular or predictable income source for Koestler Arts. We are working hard to develop this area, but in the meantime, we are thankful to a small number of major donors who made generous contributions, as well as to the estates of John Gray and Olga Martin for legacy gifts received in 2023-24.

Finally, Koestler Arts was proud to be selected as a charity partner for both the 2023 Affordable Art Fair in Hampstead and the Chiswick Book Festival. Both organisations made donations from the proceeds of ticket sales. Members of the staff team, trustees and volunteers worked together at these events to reach new supporters and spread the word about the charity’s work and impact.

We are proud to be a Living Wage Employer.

RESERVES

The Charity has no permanent endowment. It must raise money on an ongoing basis. The Trustees' policy is to have reserves of unrestricted funds for the total costs of running the Charity for at least three months ahead. At the year end, the Charity had free reserves of £254,883 with the unrestricted reserve of £520,229. This level of reserves includes funds for final payments and set up of the new building.

FUNDRAISING PRACTICES

All fundraising for Koestler Arts is undertaken by the staff team, led by the Chief Executive and Development Director. No professional fundraisers or commercial participators carry out any fundraising activities on our behalf. Donor data is maintained on a secure database, and staff have undertaken training in the requirements of GDPR legislation.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees are responsible for preparing the annual report and the financial statement in accordance with applicable law and United Kingdom generally accepted accounting practice. Company law requires the Trustees to prepare financial statements for each

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The Koestler Trust Trustees’ Report for the year ended March 31st, 2024

financial year which give a true and fair view of the state of affairs of the Charity and of the net income or expenditure of the Charity for the year. In preparing these financial statements the Trustees are required to:

The Trustees are responsible for maintaining proper accounting records, which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Companies Act 2006.

They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees, who are Directors for the purpose of company law and Trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 1.

During the year, the Charity has moved its operations into a brand new up-cycled building at HM Prison Wormwood Scrubs, a move which symbolises so much of what the Charity is about: sunlight, renewal and creativity. This year we have also weathered a period of financial challenges caused by high inflation against flat or declining income streams. On behalf of all the Trustees, I would like to thank our dedicated staff team, led by our Chief Executive Fiona Curran, for whom this eventful and challenging year was her first in post. Under Fiona’s leadership, we have also started to put in place an ambitious strategic framework, with clarity on our goals, better and more effective delivery, and a determination to reach all cohorts who are detained or under supervision. I would like to thank my fellow Trustees too, and everyone else who has volunteered to help us during the year.

We remain a remarkable arts organisation and a force for rehabilitation and positive change. It is a privilege to be able to lend to our participants a public platform, a display cabinet, or an exhibition wall.

Approved by the Trustees and signed on their behalf by:

Richard Heaton

18 December 2024

~~Sir Richard Heaton KCB~~ Sir Richard Heaton KCB (Dec 18, 2024, 9:54am) Chair of Trustees

DATE _______

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The Koestler Trust Independent Auditor's Report To The Members Of The Koestler Trust For the ear ended 31 March 2024 y

Opinion

We have audited the financial statements of The Koestler Trust (the ‘parent company’) and its subsidiary ('the group') for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Consolidated Statement of Cash flows and notes to the financial statements, 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 Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information.

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.

/Continued …

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The Koestler Trust Independent Auditor's Report To The Members Of The Koestler Trust For the ear ended 31 March 2024 y

(Continued)

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement in the Trustees' Report, 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 group's and parent 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 group or parent company or to cease operations, or have no realistic alternative but to do so.

/Continued …

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The Koestler Trust Independent Auditor's Report To The Members Of The Koestler Trust For the ear ended 31 March 2024 y

(Continued)

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

/Continued …

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The Koestler Trust

Independent Auditor's Report To The Members Of The Koestler Trust For the ear ended 31 March 2024 y

(Continued)

Use of our report

This report is made solely to the parent 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 parent company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent company and the parent company’s members as a body, for our audit work, for this report or for the opinions we have formed.

Shoaib Shoaib Arshad (Senior Statutory Auditor)Shoaib Arshad (Dec 19, 2024, 3:41pm) Arshad (Senior Statutory Auditor) For and on behalf of:

Knox Cropper LLP

Chartered Accountants & Statutory Auditors 65 Leadenhall Street

London EC3A 2AD

19 December 2024

Registered company no. 04961363

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The Koestler Trust

Consolidated Statement of Financial Activities (incorporating the Income and Expenditure Account) For the ear ended 31 March 2024 y

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
for charitable activities
2
for capital development
2
Other trading activities
4
Investments
5
TOTAL
EXPENDITURE ON:
Raising funds
Costs of generating voluntary
income
Charitable activities
TOTAL EXPENDITURE
6
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
TOTAL FUNDS AT 1 APRIL 2023
TOTAL FUNDS AT 31 MARCH 2024		 Unrestricted
Funds
2024
£
664,161
-
49,486
6,700
720,347
104,656
647,403
752,059
(31,712)
556,497
524,785
**£ **		 Restricted
Funds
2024
£
46,265
46,942
-
-
93,207
-
97,089
97,089
(3,882)
1,321,527
1,317,645
**£ **		 Total
Funds
2024
£
710,426
46,942
49,486
6,700		 Total
Funds
2023
£
907,028
490,268
37,048
2,370
813,554 1,436,714
104,656
744,492		 136,057
859,876
849,148 995,933
(35,594)
1,878,024		 440,781
1,437,243
1,842,430
**£ **		 1,878,024
_£ _

All income and expenditure has arisen from continuing activities. None of the Charity’s activities were acquired or discontinued during the above two financial years.

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The Koestler Trust

(company limited by guarantee) (registered company no. 04961363) Consolidated Balance Sheet

As at 31 March 2024

Notes Charity Group Charity Group
2024 2024 2023 2023
£ £ £ £
FIXED ASSETS
Tangible assets 10 1,352,309 1,352,308 966,638 966,637
Investments 11 106,959 106,958 102,000 101,999
1,459,268 1,459,266 1,068,638 1,068,636
CURRENT ASSETS
Debtors 13 39,482 37,625 90,304 89,202
Cash at bank and in hand 14 597,583 615,618 970,102 1,004,809
637,065 653,243 1,060,406 1,094,011
CREDITORS: amounts falling due within
one year 15 (258,459) (270,079) (270,288) (284,623)
NET CURRENT ASSETS 378,606 383,164 790,118 809,388
NET ASSETS **£ ** 1,837,874 **£ ** 1,842,430 _£ _ 1,858,756
 _£ _ 1,878,024
FUNDS
Unrestricted funds:
Designated funds 16 265,346 265,346 260,730 260,730
Subsidiary companies 16 - 4,556 - 19,268
General fund 16 254,883 254,883 276,499 276,499
520,229 524,785 537,229 556,497
Restricted funds 16 1,317,645 1,317,645 1,321,527 1,321,527
**£ ** 1,837,874 **£ ** 1,842,430 _£ _ 1,858,756
 _£ _ 1,878,024

The financial statements have been prepared in accordance with the special provisions in Part 15 of the Companies Act 2006 relating to small companies and the Financial Reporting Standard 102. The financial statements were approved, and authorised for issue, by the Board of Trustees on Jasmin Booth ________ and signed on their behalf by:18 December 2024

Richard Heaton

SIR RICHARD HEATON KCB, Chair

Sir Richard Heaton KCB (Dec 18, 2024, 9:54am)

JASMIN BOOTH, Treasurer

Jasmin Booth (Dec 18, 2024, 3:41pm)

The annexed notes form part of these financial statements

16

The Koestler Trust Consolidated Cash Flow Statement For the ear ended 31 March 2024 y

Cash flows from operating activities
(Deficit)/surplus for the financial year
Adjustments for:
Depreciation
Decrease/(increase) in debtors
(Increase)/decrease in creditors
Investment income
Net cash flows from operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Purchase of investments (fixed and short term)
Return on investment - interest receivable
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents at 1 April 2023
Components of cash and cash equivalents
At 1 April
2023
£
Cash at bank and in hand
1,004,809
Cash and cash equivalents at 31 March 2024		 2024
£
(35,594)
34,354
51,577
(14,544)
(6,700)
29,093
(420,025)
(4,959)
6,700
(389,191)
1,004,809
615,618
£
Cashflows
£
(389,191)		 2023
£
440,781
2,912
(2,501)
99,933
(2,370)
538,755
(490,406)
48,234
2,370
98,953
995,686
1,094,639
_£ _
At 31 March
2024
£
615,618

17

The Koestler Trust Notes to the consolidated Financial Statements For the ear ended 31 March 2024 y

1. ACCOUNTING POLICIES

Basis of preparation of financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102 have been prepared under the historical cost convention, and in accordance with applicable United Kingdom accounting standards and the requirements of the Statement of Recommended Practice 'Accounting and Reporting by Charities' (FRS 102) and the Companies Act 2006. The presentational currency of the financial statements is Pound Sterling (£).

The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern.

Group financial statements

These financial statements consolidate the results of the Charity and its wholly-owned subsidiary, Koestler (Sales) Limited, on a line by line basis. A separate Statement of Financial Activities for the Charity itself is not presented because the Charity has taken advantage of the exemptions afforded by the Companies Act 2006 and SORP 2015.

Company status

The Koestler Trust is a company limited by guarantee. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objects of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the Charity for particular purposes. The cost of 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. Statutory grants which are given as contributions towards the Charity's core services are treated as unrestricted.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income, it is probable that the amount will be received and the amount can be quantified with reasonable accuracy. Revenue grants recieved are deferred when conditions are attached, for example when they relate to a specific future period.

Investment Income is recognised on an accruals basis.

18

The Koestler Trust Notes to the consolidated Financial Statements For the ear ended 31 March 2024 y

Resources Expended

Expenditure is recognised on an accruals basis, inclusive of irrecoverable VAT.

Charitable activities include expenditure associated with the staging of art exhibitions as an essential part of promoting artistic activities on the part of people within the criminal justice system, as set out in the Trust’s Objectives stated in the Trustees report. They also include the award of prizes for the artistic merit of the work and the activities of the Koestler Art Centre, which organises the exhibitions, promotes the work of the Trust within the prison system, including specific arts projects and exhibits prisoner art on a permanent basis.

Support costs are overhead expenditure and management costs necessary in order to control the charitable activities of the Trust and ensure that the Trust’s objectives are being achieved. They are allocated over the charity’s expenditure headings, including fundraising, charitable activities and governance based on staff costs.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Koestler House on leased land Over 10 years Computer equipment Over 4 years Fixtures, fittings & equipment Over 7 years

Pensions

The Charity contributes to a defined contribution pension scheme on behalf of a number of employees. The pension charge represents the amount payable by the charity to the pension fund in respect of the year.

Debtors

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

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Judgements and key sources of estimation uncertainty

Judgements and key sources of estimation uncertainty are detailed in the above accounting policies, where applicable.

Financial Instruments

The Charity only has financial assets and liabilities of a kind that qualify as basic financial instruments, for example debtors, cash at bank and creditors. These are initially recognised at transaction value and subsequently valued at settlement value.

19

The Koestler Trust Notes to the consolidated Financial Statements For the ear ended 31 March 2024 y

2.
DONATIONS AND LEGACIES
Income for Charitable activities
Donations from Public Sector
Donations from Trusts
Donations from Businesses
Donations from Individuals
Sales of Donated Goods
Legacies
Capital Grants (note 3)
Comparative donations and legacies
Income for Charitable activities
Donations from Public Sector
Donations from Trusts
Donations from Businesses
Donations from Individuals
Legacies		 Unrestricted
Funds
2024
£
151,380
320,193
86,612
73,381
645
31,950
664,161
-
664,161
£
Unrestricted
Funds
2023
£
151,380
253,903
76,261
85,857
280,391
847,792
-
847,792
_£ _		 Restricted
Funds
2024
£
3,750
41,758
250
507
-
-
46,265
46,942
93,207
£
Restricted
Funds
2023
£
11,250
28,543
12,817
6,626
-
59,236
490,268
549,504
_£ _		 Total
Funds
2024
£
155,130
361,951
86,862
73,888
645
31,950
710,426
46,942
757,368
**£ **		 Total
Funds
2023
£
162,630
282,446
89,078
92,483
-
280,391
907,028
490,268
1,397,296
_£ _
Total
Funds
2023
£
162,630
282,446
89,078
92,483
280,391
907,028
490,268
1,397,296
_£ _

In addition to the above grants, donations and legacies, the Trust received the use of 168a Du Cane Road, and the costs associated with maintaining the premises, free of charge from HMP Wormwood Scrubs. This benefit is not included in the Statement of Financial Activities as the value cannot be ascertained without substantial expense on a quantity surveyor.

20

The Koestler Trust Notes to the consolidated Financial Statements For the ear ended 31 March 2024 y

3.
KOESTLER HOUSE DEVELOPMENT
Capital Funds brought forward
Restricted grants and donations (note 2)
Analysis of Capital Funds (note 16)
Designated Funds
Restricted Funds
Capital costs incurred
Building costs at 1 April 2023
Additions during the year ended 31 March 2024
Total capital costs incurred by 31 March 2024		 2024
£
1,381,918
46,942
1,428,860
£
82,503
1,346,357
1,428,860
£
959,228
418,949
1,378,177
**£ **		 2023
£
891,650
490,268
1,381,918
_£ _
82,503
1,299,415
1,381,918
_£ _
470,964
488,264
959,228
_£ _

The development of the new building completed in 2023-4. The Trust moved its office to the new building at 170 Du Cane Road on 15 January 2024, and moved its arts processes early in 2024-25.

4. INCOME FROM OTHER TRADING ACTIVITIES

Earned income
Trading income
Total 2024
Total 2023
5.
INVESTMENT INCOME
Interest receivable from:
Bank interest
Total 2024
Total 2023		 Unrestricted
Funds
2024
£
433
49,053
49,486
£
37,048
£
Unrestricted
Funds
2024
£
6,700
6,700
£
2,370
_£ _		 Restricted
Funds
2024
£
-
-
Nil
£
Nil
£
Restricted
Funds
2024
£
-
Nil
£
Nil
£		 Total
Funds
2024
£
433
49,053
49,486
£
Total
Funds
2024
£
6,700
6,700
**£ **		 Total
Funds
2023
£
-
37,048
37,048
_£ _
Total
Funds
2023
£
2,370
2,370
_£ _

21

The Koestler Trust Notes to the consolidated Financial Statements For the ear ended 31 March 2024 y

6.
RESOURCES EXPENDED
Staff costs
£
Cost of charitable
activities by project:
UK Exhibition at
Southbank
15,835
Out of London
Exhibitions
35,827
Prizes Awarded
-
Arts Response & Awards
152,955
Publicity
35,134
Mentoring
53,838
Outreach and
Involvement
56,962
Koestler sales
-
Total charitable
expenditure
350,551
Costs of generating
voluntary income
56,640
407,191
£
Resources expended include:
Audit fee (inclusive of VAT)
Other services
Depreciation		 Other direct
costs
£
33,583
6,203
36,118
22,838
20,860
6,383
6,402
18,141
150,528
8,691
159,219
£		 Support
costs
£
10,994
24,874
-
106,195
24,393
37,409
39,548
-
243,413
39,325
282,738
£		 Total 2024
£
60,412
66,904
36,118
281,988
80,387
97,630
102,912
18,141
744,492
104,656
849,148
£
2024
6,876
2,136
34,354		 Total 2023
£
159,267
76,349
28,539
259,630
79,800
76,614
157,822
21,855
859,876
136,057
995,933
_£ _
2023
6,600
2,040
5,844

Details of staff costs are given in Note 8.

22

The Koestler Trust Notes to the consolidated Financial Statements For the ear ended 31 March 2024 y

6. RESOURCES EXPENDED (continued)

Comparative resources expended

Other direct Support
Staff costs costs costs Total 2023
£ £ £ £
Cost of charitable
activities by project:
UK Exhibition at
Southbank 35,323 101,462 22,482 159,267
Out of London
Exhibitions 32,307 23,480 20,562 76,349
Prizes Awarded - 28,539 - 28,539
Arts Response & Awards 141,538 28,008 90,084 259,630
Publicity 27,925 34,102 17,773 79,800
Mentoring 41,195 9,200 26,219 76,614
Outreach and
Involvement 90,761 9,295 57,766 157,822
Koestler sales - 21,855 - 21,855
Total charitable
expenditure 369,049 255,941 234,886 859,876
Costs of generating
voluntary income 74,837 13,589 47,631 136,057
_£ _ 443,886 _£ _ 269,530
 _£ _ 282,517 _£ _ 995,933

7. SUPPORT COSTS

SUPPORT COSTS
Total Total
2024 2023
£ £
Governance costs 9,320 15,520
Staff costs 132,903 168,605
General overheads 140,515 98,392
**£ ** 282,738 _£ _ 282,517

23

The Koestler Trust Notes to the consolidated Financial Statements For the ear ended 31 March 2024 y

8. STAFF NUMBERS AND COSTS

Wages and salaries
Social security costs
Pension costs
Cost of contracted staff
Other staff related costs
Allocated to:
Charitable activities
Fundraising costs
Support costs
Average number of employees		 2024
£
451,492
37,971
26,545
15,048
9,038
540,094
£
2024
£
350,551
56,640
132,903
540,094
£
17		 2023
£
521,700
42,927
28,294
-
19,570
612,491
_£ _
2023
£
369,049
74,837
168,605
612,491
_£ _
21

One (2023: one) employee received remuneration of more than £60,000 between £60,001 to £70,000.

The key management personnel of the Charity are those persons having authority and responsibility for planning, directing and controlling the activities of the Charity, directly or indirectly, including any Trustee of the Charity. In addition to the Trustees, Key management personnel includes the management team.

Following the recommendations of the National Council for Voluntary Organisations’ guidance on Setting and Communicating Remuneration Polices (April 2014), and with the agreement of the individual staff involved, the Koestler Trust has started publishing the gross salaries of its management team. These are as follows:

Chief Executive
Director of Arts
Director of Outreach & Involvement
Director of Development		 2024
£
75,617
45,213
43,241
50,399
214,470
**£ **		 2023
£
71,685
17,886
40,456
46,038
176,065
_£ _

24

The Koestler Trust Notes to the consolidated Financial Statements For the ear ended 31 March 2024 y

9. TRUSTEES REMUNERATION AND BENEFITS

The Articles of Association allow for the payment of professional fees to Trustees under certain circumstances, however, during the year, no members of the Board of Trustees received any remuneration (2023 - £NIL).

No members of the Board of Trustees received reimbursement of expenses (2023 - £NIL).

10. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Koestler Fixture and Computer
House fittings equipment Total
£ £ £ £
Cost
At 1 April 2023 959,228 3,784 19,374 982,386
Additions 418,949 - 1,076 420,025
At 31 March 2024 1,378,177 3,784 20,450 1,402,411
Depreciation
At 1 April 2023 - 2,080 13,669 15,749
Charge for the year 28,712 964 4,678 34,354
At 31 March 2024 28,712 3,044 18,347 50,103
Net book value
At 31 March 2024 **£ ** 1,349,465 **£ ** 740 **£ ** 2,103 **£ ** 1,352,308
At 31 March 2023 _£ _ 959,228 _£ _ 1,704 _£ _ 5,705 _£ _ 966,637

The construction of 'Koestler House' was completed on land that is leased for 10 years during the year.

**11. ** INVESTMENTS Charity Group Charity Group
2024 2024 2023 2023
£ £ £ £
CCLA COIF Charities Deposit Fund 106,958 106,958 101,999 101,999
Investment in subsidiaries (note 12) 1 - 1 -
**£ ** 106,959 **£ ** 106,958 _£ _ 102,000 _£ _ 101,999

25

The Koestler Trust Notes to the consolidated Financial Statements For the ear ended 31 March 2024 y

12. INVESTMENT IN SUBSIDIARIES

Koestler (Sales) Limited is a company limited by guarantee whose members are also the trustees of the Koestler Trust. The Company had a policy of donating 25% of sales income from participants' artwork to Victim Support and is included in the costs of sales. The Company also had a policy to gift aid its profits to the Trust. Two of the Trustees were directors of Koestler (Sales) Ltd during the year: Dr Nora Laraki and Gary Mansfield.

The financial results of Koestler (Sales) Limited are as follows:

Turnover
Cost of sales
Administrative costs
Profit before Corporation Tax
Corporation tax charge
Net profit for the year
Gift Aid donations to Koestler Trust (see note below)
Change in reserves
Current assets
Liabilities
Profit and loss account
Capital and reserves		 2024
£
49,053
(12,746)
(5,135)
31,172
(298)
30,874
(45,586)
(14,712)
£
18,674
18,674
(14,119)
4,555
£
4,555
4,555
**£ **		 2023
£
37,048
(17,712)
(3,750)
15,586
(393)
15,193
(2,501)
12,692
_£ _
34,708
34,708
(15,440)
19,268
_£ _
19,268
19,268
_£ _

Following are the inter-company transactions during the year and balances held at the year end.

Gift Aided donations to the parent charity (Koestler Trust):
Gift Aid paid during the year from the prior year's pre-tax profits
Gift Aid paid during the year from the current year's pre-tax profits
Balance due to Koestler Trust as at 31 March 2024
Total Gift Aided donations made during the year		 2024
£
15,193
30,393
45,586
2,496		 2023
£
2,501
-
2,501
_£ _
1,667

26

The Koestler Trust Notes to the consolidated Financial Statements For the ear ended 31 March 2024 y

13. DEBTORS

Due within one year
Gift Aid recoverable
Due from group undertakings
Prepayments and accrued income
Other debtors		 Charity
2024
£
9,685
2,496
27,301
-
39,482
**£ **		 Group
2024
£
9,685
-
27,940
-
37,625
**£ **		 Charity
2023
£
9,153
1,667
79,484
-
90,304
_£ _		 Group
2023
£
9,153
-
80,049
-
89,202
_£ _

14. Cash at bank and in hand

Significant costs were incurred on the construction of the new Koestler Arts building which was completed by 31 March 2024 resulting in decrease in cash balance from 31 March 2023. These funds were raised in prior years for Koestler House. Further details are provided in the Cash Flow Statement, notes 3, 10 &16.

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Grants in advance
Payments due to Victim Support
Social security and other taxes
Accruals
Other creditors		 Charity
2024
£
238,784
-
9,384
10,291
-
258,459
**£ **		 Group
2024
£
238,784
4,390
9,384
17,521
-
270,079
**£ **		 Charity
2023
£
214,178
-
10,062
40,303
5,745
270,288
_£ _		 Group
2023
£
214,178
5,627
10,062
46,116
8,640
284,623
_£ _

27

The Koestler Trust Notes to the consolidated Financial Statements For the ear ended 31 March 2024 y

16. STATEMENT OF FUNDS
DESIGNATED FUNDS
Outreach Fund
Mentoring Fund
Arts Awards and Response
Fund
Koestler House Capital
costs
Koestler House Running
costs 24-25
Fundraising and Comms
development 24-25
Family Support and Hosts
Fund
Website and Database
Development Fund
Premises Fund
Fixed Assets Fund
RESTRICTED FUNDS
UK Exhibition at
Southbank
Koestler House
Development Fund
Mentoring
SUMMARY OF FUNDS
Designated Funds
Subsidiary companies
General Funds
Restricted Funds		 Brought
Forward
£
65,000
50,000

100,000
-
-
-
15,000
30,730
-
-
-
260,730
£
-
1,299,415
22,112
1,321,527
£
260,730
19,268
276,499
556,497
1,321,527
1,878,024
£		 Incoming
Resources
£
-
-
-
-
-
-
-
-
-
-
Nil
£
17,818
46,942
28,447
93,207
£
-
49,053
671,294
720,347
93,207
813,554
**£ **		 Resources
Expended
£
(102,912)
(47,071)
(281,988)
-
-
-
(15,892)
(35,357)
-
-
(483,220)
£
(17,818)
(28,712)
(50,559)
(97,089)
£
(483,220)
(63,765)
(205,074)
(752,059)
(97,089)
(849,148)
£		 Transfers and
investment
gains/(losses)
£
57,912
17,071
261,988
80,683
20,000
10,000
892
4,627
31,820
2,843
-
487,836
£
-
-
-
Nil
£
487,836
-
(487,836)
-
-
Nil
£		 Carried
Forward
£
20,000
20,000
80,000
80,683
20,000
10,000
-
-
31,820
2,843
265,346
**£ **
-
1,317,645
-
1,317,645
**£ **
265,346
4,556
254,883
524,785
1,317,645
1,842,430
**£ **

28

The Koestler Trust Notes to the consolidated Financial Statements For the ear ended 31 March 2024 y

16. STATEMENT OF FUNDS (continued)

Comparative statement of funds

DESIGNATED FUNDS
2022-23 Projects
Outreach fund
Mentoring & Outreach
Fund
Arts Awards and
Response Fund
Family Support and Hosts
Fund
Website and Database
Development Fund
Koestler House
Development Fund
Koestler House Running
Costs Fund
Scholarships
Mentoring Fund
RESTRICTED FUNDS
UK Exhibition at
Southbank
Koestler House
Development Fund
Mentoring
SUMMARY OF FUNDS
Designated Funds
Subsidiary companies
General Funds
Restricted Funds		 Brought
Forward
£
40,000
-
35,000
90,000
15,000
40,000
82,503
15,000
50,692
368,195
£
-
809,147
57,308
866,455
£
368,195
6,576
196,017
570,788
866,455
1,437,243
_£ _		 Incoming
Resources
£
-
-
-
-
-
-
-
-
-
-
Nil
£
17,818
490,268
41,418
549,504
£
-
37,048
850,162
887,210
549,504
1,436,714
_£ _		 Resources
Expended
£
(40,000)
-
(35,000)
(90,000)
-
(9,270)
(82,503)
(15,000)
(50,692)
-
(322,465)
£
(17,818)
-
(76,614)
(94,432)
£
(322,465)
(24,356)
(554,680)
(901,501)
(94,432)
(995,933)
£		 Transfers and
investment
gains/(losses)
£
-
65,000
50,000
100,000
-
-
-
-
-
-
215,000
£
-
-
-
Nil
£
215,000
-
(215,000)
-
-
Nil
£		 Carried
Forward
£
-
65,000
50,000
100,000
15,000
30,730
-
-
(50,692)
50,692
260,730
_£ _
-
1,299,415
22,112
1,321,527
_£ _
260,730
19,268
276,499
556,497
1,321,527
1,878,024
_£ _

29

The Koestler Trust Notes to the consolidated Financial Statements For the ear ended 31 March 2024 y

17. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted Funds Unrestricted Funds Unrestricted Funds
Designated General Restricted Total
Funds Funds Funds Funds
£ £ £ £
Tangible fixed assets - 2,843 1,349,465 1,352,308
Fixed asset investments - 106,958 - 106,958
Net current assets 265,346 149,638 (31,820) 383,164
**£ ** 265,346 **£ ** 259,439 **£ ** 1,317,645 **£ ** 1,842,430
Comparative analysis of net assets between funds
Unrestricted Funds
Designated General Restricted Total
Funds Funds Funds Funds
£ £ £ £
Tangible fixed assets - 7,409 959,228 966,637
Fixed asset investments - 101,999 - 101,999
Net current assets 260,730 186,359 362,299 809,388
_£ _ 260,730 _£ _ 295,767 _£ _ 1,321,527 _£ _ 1,878,024

18. PENSION COMMITMENTS

Pension costs in note 8 relate to payments made to a defined contribution pension scheme. The charitable company’s liability is limited to making the payments due to the scheme on a timely basis. The liability at the 31 March 2024 is nil (2023 : £5,746).

19. RELATED PARTIES

There were no related party transactions, other than those disclosed in note 6 and 7.

30

The Koestler Trust Notes to the consolidated Financial Statements For the ear ended 31 March 2024 y

20. COMPARATIVE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted d
Total
Unrestricted
Funds s
Funds
Funds
2024 4
2024
2023
£ £
£
£
INCOME AND ENDOWMENTS FROM:
Donations and legacies
-
for charitable activities
811,978
for capital development
-
Other trading activities
-
37,048
Investments
-
2,370
TOTAL
-
851,396
EXPENDITURE ON:
Raising funds
Costs of generating voluntary
income
-
136,057
Charitable activities
-
771,715
TOTAL EXPENDITURE
-
907,772
NET MOVEMENT IN FUNDS
-
(56,376)
RECONCILIATION OF FUNDS:
TOTAL FUNDS AT 31 MARCH 2022
-
1,374,243
TOTAL FUNDS AT 31 MARCH 2023
Nil
£
1,317,867
_£ _		 Restricted
Funds
2023
£
95,050
397,221
-
-		 Total
Funds
2023
£
907,028
490,268
37,048
2,370
492,271 1,436,714
-
88,161		 136,057
859,876
88,161 995,933
404,110
63,000		 440,781
1,437,243
467,110
_£ _		 1,878,024
_£ _

31