2024-03-31-accounts

LONDON FUNDERS London Funders Report and Accounts for the year ended 31 March 2024 4 Chiswell Street London ECIY 4UP Tel: [phone] Email: [e-mail] Website: www.londonfunders.org.uk Company registration.. 5596299 Charity registration: 1116201

LONDON FUNDERS Report and Accounts for 2023n4 CONTENTS Page Trustees, Report 2-15 Statement of Trustees, Responsibilities 16 Independent Audltorfs Report 17-20 Statement of Flnanclal Activities 21 Balance Sheet 22 Cash Flow Statement. 23 Notes to the Flnancial Statements 24-32

LONDON FUNDERS Report and Accounts for 2023124 STRUCTURE, GOVERNANCE AND MANAGEMENT London Funders is a charity and company limited by guarantee. The London Funders, Board is the board of directors of the company and its board of trustees. The formal object5 of London Funder5 (revised and approved at the AGM in 20221 are for the benefit of the public and particularly to improve the conditions of life of people who live and work in Greater London. This is through the advancement of citizenship and community development, particularly by: promoting the voluntary and community sector; providing advice and information particularly on funding and social investment opportunities to facilitate co-operation and collaboration between the voluntary and community sector and funding organisations; and providing resources and funding to the voluntary and community sector. As well as the advancement of education, particularly by provlding training and information to, and facilitatlng the exchange of information, knowledge and experience between, the voluntary and community sector and funding organisations, to enable funding organisations to provide 5UPPOrt and funding to the voluntary and community sector more effectivelv. Board officers Chair Vice Chair5 David Farnsworth Sara Cooney (to October 20231 Sally Dickinson (from October 20231 Ed ith Galliers Ugo Ikokwu Treasurer Board members Shabana Aslam Susan Barry Dominic Briant Yolande Burgess Sara Cooney Emma Corrigan Sally Dickinson David Farnsworth Edith Galliers Lynne Guyton Ugo Ikokwu Andrew Matheson Tunde Olayinka Matthew Parsonage Access to Justice Foundation Haberdashers, Company Metropolitan Thames Valley Housing London Councils Lloyds Bank Foundation for England & Wales National Lottery Community Fund Berkeley Foundation The City Bridge Foundation London Borough of Waltham Forest John Lyon's Charity Trust for London London Borough of Southwark Greater London Authority Clarion Housing

LONDON FUNDERS Report and Accounts for 2023124 Staff members Jessica Allsop Ora Ataguba Nasyah Bandoh James Banks Geraldine Blake Malene Bratlie Louise Henry Helen Mathie Grace Perry Kamari Romeo Operations Coordinator Learning and Communication5 Coordinator (from March 2024) Membership Manager Chief Executive (and Company Secretary) Director of Collaboration and Development Learning and Communications Manager Propel Development Manager Director of Policy and Partnerships Head of Programrne Delivery Events and Administration Coordinator (to December 20231 Professional advisers Bankers Unity Trust Bank Four Brlndleyplace Birmingham Bl 2JB Charity Bank Fosse House, 182 Hlgh Street Tonbridge TN9 IBE CCLA One Angel Lane London EC4R 3AB Virgin Money, 177 Bothwell Street Glasgow G2 7ER Solicitors Russell-cooke LLP 2 Putney Hill London SW15 6AB The Board members are the Trustees and Directors of the Company. There are up to 12 elected members, each can serve a maximum of three three-year terms and are drawn from London Funders, Full members. In addition, the Board can appoint up to three co-opted members. Honorary Officers are elected by the Board from among its members. London Funders had a small office at the end of the year. During the year covered by this report London Funders rented office space from Trust for London at 4 Chiswell Street, London ECIY 4UP. Background and structure London Funders was incorporated as a company limited by guarantee in 2005. It is a charitable company structured as a membership association. Members are funders of the voluntary and community sector in London. Each pays a subscription and has a named representative (to vote at meetings such as the AGM). Most member organisations involve a range of staff and trustees in London Funders, activities, such as grantmaking, commi55ioning, policy and research staff. A550ciate membership allows civil society organisations in London which do some funding, but not as their primary remit, to belong to London Funders but with no voting rights.

LONDON FUNDERS Report and Accounts for 2023124 OBJECTIVES London Funders, mission is to bring funders together to build a better London by taking action on what matters to our city and our communltles. London 15 a complex city and it5 funding landscape is changing dramatically. This change is being driven by 3 combination of factors including the impact of the covid-19 pandemic, the ongoing impact of the cost of living crisis, the redefining of the role of the state (both national and locall, the changing profile of poverty and the needs of the population within London, and the increasingly complex governance and public policy landscape that our members operate within. Other regions . and countries in the UK have high levels of need and disadvantage but in London their scale and complexity are masked by areas of extreme affluence. Funders need to know about how policy affects the capital and how funding can be developed to meet the diverse needs of London's communities. London Funders is unique in bringing together public-sector funders and commissioners with independent foundations, social and corporate investors, lottery funders and others. Our member5 invest in every aspect of Londoner5' lives, from the arts to welfare, and they fund across all 32 boroughs and the City of London. These funds are invested in London through a number of channels including the voluntary and community sectors, social enterprises and the private sector, as well as directly to Londoners. As funding and policy challenges continue, our priorities are to focus on funders working together better, with clearer priorities; new ways of working, challenging funders and providers,. and modelling evidence- and intelligence-led solutions. Our bellefs We belleve that Londoners should be at the heart of our work, and that of our members- with their needs, their strengths and their hopes driving developments in the funding community. We believe that effective and resilient civil society organisations are essential to enabling London's people and communities to thrive. Equally, the systems that govern civil society are important determining factors in how effective and efficient it can be. We believe that civil 50ciety organisations are best supported to meetthe needs of Londoners when funding is based on a shared understanding of need, with good funding practices, and a collaborative approach to funding that ensures resources are channelled to the right places. We believe that social systems - the polioi framework within which civil society operates, and how funding is accessed by civil society organisations - can be altered to meet the needs of Londoners better. This outcome is underpinned by funders efficiently allocating resources, as well as collaborating with others to improve understanding of where funding is most needed and how best to channel support there. It is further driven by changes to policies and structures that affect civil society organisation5, for which we believe funders can be active advocate5.

LONDON FUNDERS Report and Accounts for 2023124 Our aims and objectives Our ambitions are to: Enable a movement of members to have strong and trusted connections, based on shared values and ambitions Facilitate and lead collaborative programmes where only working together can achieve the change that's needed Drive a learni ng cultu re, where shared data, intelligence and insight leads to better decision- making and action To achieve this.. We involve and inspire, convening with purpose so that people and organisations can embrace opportunities to grow tO8ether We inform and influence, seeking and sharlng knowledge so that funding and policy environments meet Londoners, needs We innovate and incubate, exploring new ideas and approaches, and ensuring those with potential have the support to thrive Whilst working towards our ambitions we will also maintain our agility - responding to events and developments as they arise in London, to ensure we are effective at addressing emerging needs. Public beneflt We recognise that as a charity, London Funders has a dutyto provide public beneflt: this helps guide our plans and activities. Close attention is pald to outcomes from all the work we do. As a second tier organisation, London Funders does not directly claim impact on communities. What we do, as honestly and accurately as we can, is identify the directly attributable results of our work and consult members about the contribution to their practice that our work has made, noting the improved visibility of funders in London, increased collaboration between them, and opportunities taken up for work in partnership with other organisations. The ways in which we seek to create public benefit are illustrated in an online theory of change, which shows how our activities result directly and indirectly in outcomes relating to funders, knowledge, collaboration and voice.

LONDON FUNDERS Report and Accounts for 2023124 ACHIEVEMENTS AND PERFORMANCE IN 2023124 Chairfs report on behalf of the trustees It's nine years since l joined the incredible team at London Funders, first as a Trustee, and then as Chair- and as thi5 15 the maximum term limit for our Board members, this IS the last introduction I'll be writing to an annual report. I'm proud, therefore, that this report details another exceptional vear for London Funders- one that saw the amazing movement of members continue to grow, to collaborate, and to deliver wark that achieves real and lasting change for our city and our communities. Over the last nine years our movement has grown 168Yo (to 166 organisationsl, we're hosting 375% more events {120 this year, welcoming 1,459 people), and the readership of our bulletins and updates has shot up 575% Ito 8,051 people). Workthat we started nine years ago has also continued to be relevant today: in 2015 we began our support of the London's Giving network, and in this report you'll read about the new funding secured this year to take place-based giving to the next level; and that year saw our first research project on London's civil society infrastructure, and in 2023/24 we secured funding to research the equlty and justice infrastructure our communities need. 2015 was also the year we published a "Vision for Young London" with London Youth and Partnership for Young London, setting targets to achieve by 2025- whilst some of these (including Mayoral election votes for 16-year-olds) have not yet happened, I'm pleased that you'll see in this report how many of these ambitions are embedded in Propel, our ten-year funder collaboration, including funding for those working with young people to ensure they have a voice, better education and stronger career prospects. Much has also changed since l joined London Funders- in 2015 we were holding meetings on "the new NHS commissioning landscape in London" and this year we published briefings on the new ICS/IC8 structures,. nine years ago we were looking at opportunities for European Social Fund monev flowing into London, and this year through our membership of the London Partnership 8oard we were looking at the Shared Prosperity Fund opportunities for the city; and we hosted roundtables in 2015 on the Big Lottery Fund'5 new strategy, then in 2023/24 contributed to the National Lottery Community Fund's consultation on their future funding priorities, When I began my time with London Funders we were based in Acorn House, and if you'll forgive the proverb, mighty oaks have grown from that time-this report highlights work to Set up a new vehicle to hold pooled funds and engage communities in decision-making, growth in our member-led networks to ensure funding is driven by data and community insight, the expansion of our learning programme to include an annual conference alongside the successful Festival of Learning, investment in the development of place-based giving, and continuing work to inspire and enable collaboration between funders and civil society to rise to the challenges of our time. My thanks must go to my predecessor as Chair, Kristina Glenn MBE, and the first London Funders Chief Executive I worked with, David Warner MBE, forthe strong foundations we were given to build from. My thanks also to the 30 people who have 5enied alongside me as Trustees over these nine years, and to the talented and committed staff team, under the exemplary leadership of our Chief Executive James Bank5 MBE, who have made everything possible. But the biggest thanks must go to all of you, across London's funding community and civil society, who have worked with us to Strengthen our city and ensure our communities can thrive. I'm proud of what's described in this report, I'm proud of what's been achieved over the last nine years, but I'm even more proud to remain a member of this movement of funders, and to look ahead together to what we can achieve with our communities in the city we love. David Farnsworth OBE. Chair

LONDON FUNDER5 Report and Accounts for 2023124 ACHIEVEMENTS IN 2023124 Our membershlp continued to develop as we welcomed six new organisations, taking total membershlp to 166 by the end of March 2024. We were pleased to welcome these new members during the year. Like our wider membership they are diverse in their size, aims and geographic remit. Our new members are: All Ways Network Beyond Sport The Considered Ask Foundation Independent Age Sovereign Network Group Youth Futures Foundation We aim to equip funders with the knowledge and networks they need to fund a sustalnable voluntary and community sector in London. At the heart of our work is a commitment to activity which will bring solid and tangible outcomes for our members. For 2023124 we set out five priority areas: l. Establishing a vehicle for funder collaboration enabling funders to pool funding, share power with community representatives, and distribute funding equitably across London. 2. Revitalising our work on place-based giving securing the resources to launch a new resource hub to strengthen the London's Giving movement and build links In new areas. 3. Strengthening our learning programme delivering our Festlval of Learnlng and a new annual conference to bring members together to connect to each other and to new ideas. 4. B005ting our membership programme launching a new programme of member-led network groups that enable the sharing of insights and the strengthening of collaboration. 5. Piloting new tools and techniques - bringing funders together to explore the developrnent of shared approaches to due diligence as a platform for further collaboration. We delivered against these priorities whilst reaching across our membership and London's civil society to ensure engagement- with 1,459 people attending the 120 events we ran during the year, 8,051 people reading our regular newsletters, and with 44,760 people interacting with our website and 11,753 following us on twitter/X over the year.

LONDON FUNDERS Report and Accounts for 2023124 We sold we would establish a vehicleforfunder collaboratlon- enablingfunders to poolfundingi share power with community representatives. and distributefunding equitably ocross London... This year saw us develop the foundations for a new vehicle for funder collaboration, a new space forfunders and civil society to design, learn and make funding decisions together. This vehicle will hold 'pooled' money on behalf of multiple cross-sector collaborations, and be a space where people from across the funding and social justice sectors come together to design and decide how this money should be used. This has been a long-term commitment from us to support the sector. The London Funders strategy for 2018-2022 (developed with the involvement of members across sectors) included the ambition to "strengthen collaboration by exploring vehicles to enable joint fund ing of in itiatives {potentially through a subsidiary charitable company that could hold grants for joint projects)" and identified 2020/21 as the year to deliver this work. Clearly this was derailed slightly by the pandemic, but work continued.ln the background to look at options for hosting funder collaborations, and we were able to learn a lot from the experience of working alongside a collaboratlon of funders on the London Community Response. As our work on the London Community Response drew to a close, we worked with members to identify how the learning from this experience could be used to establish collaborations that achieved longer-term change for London's communities- starting as an ambition statement in 2021 on Collaborative Action for Recovery, this work has taken shape as our new Propel collaboration. As part ofthis, we identified the need to return tothe original ambition of looking at modelsforhosting funds that enable collaborations to happen in bold, impactful and effective ways. Over 2023/24 London Funders considered options for enabling the pooling of funds, for Propel but also for any other future fundef collaborations we supported. This led to the establishment of a working group (bringing together funders, equity and justice organisations and members of the London Funders Trustee Board) to explore how these options could be brought to life in practical collaborations. This group refined the vision and purpose of the vehicle for collaboration to be: Vision: A vehicle that provides a simple and effective wayto pool funds and to make funding decisions collectively and equitably, enabling funders and civil society partners to act collaboratively on issues that matter to London. Purpose.. The purpose of the vehicle is to support both crisis and long-term collaborative funding programmes, over time and concurrentlv. The working group identified a set of principles for the governance of the vehicle, which are: Enabling creating a different space where partners can work together outside existing power dynamic5 and where new things can happen outside of existing rules and structures Independent- collaborative and collective decision making, balancing what we all bring to the table and what we need to do together to meet the needs of Londoners.

LONDON FUNDERS Report and Accounts for 2023124 Equitable- governance and decision making reflect partners of all sizes and the diversity of London itself, valuing different contributions and resources (money, knowledge, networks and reach) Inclusive- open and transparent processes support our accountability to each other and to London's communities Evolving- an agile approach embedded from the start, flexing to the context within which we operate and the issues we are seeking to address., and adapting in order to best enable transformational change over the long term The working group then focused on conversations on governance and Staffing for the vehicle, leading to: a clearer sense of where responsibilities sit in governance; how decisions flow between the vehicle and London Funders; and how the staff ing model could be developed to create a "space not a structure" for work to take place, and where learning flows more actively across the partnership to achieve change Over this year we have sought legal advlce from our solicitors, Russell Cooke LLP, on the next steps with the establishment of a subsldiary to take forward the work of the vehicle, noting that its remlt would not be geographically bound to London as London Funders is, but could work nationally and internationally. This has led to the development of a governing document, which has allowed us to move forward with appointments to the vehicle's Board of Directors. Within a subsidiary model, the appointment5 to the subsidiary Board are made by London Funders las the sole member), but reflecting discussions at the London Funders Board and the working group, It was decided to bring together an independent nominations committee model and recruit ten Directors, five from the funding community and five with a background in equity and justice led work, with the Chief Executive of London Funders as the Chair. This work was well underway by the close of 2023124 and we hope to formally launch the new vehicle in early 2024125. We sald we would revltallse our work on place-based giving- securlng the resources to launch a new resource hub to Strengthen the London's Giving movement and build Ilnk5 in new areas... Over the year we developed plans in consultation with the place based giving movement and partners to establish a new Resource Hub, leading to a scoping report on the potential for this work and were delighted that in September 2023 the decision to fund this was formally approved by City Bridge Foundation. This is a really significant step in achieving the potential of place based giving across the capital as it marks the start of 3 long term funding commitment to support the movement to grow, develop and be more sustainable across our city. Since then, London Funders has developed work programmes for the first three year phase of the Resource Hub. This has been informed by extensive input from across the network, where we've considered the recommendations emerging from the consultation in more depth, and discussed the more detailed elements of the potential artivities, resourcing and governance of the Hub. The scoping report identified three core areas of focus for a Resource Hub, which are to:

LONDON FUNDERS Report and Accounts for 2023124 Drive reach, establishing new Place Based Giving Schemes and helping emerging and established schemes to achieve their potential Build the profile of the movement enabling trosS-London relationships to accelerate growth and influence Provide challenge and support, innovation and influence, to ensure a greater collective impact on the lives of Londoners From our consultation, some of the critical signs of success for the Hub's first three years will be: A vibrant, collaborative network with the right mechanisms in place to actively share learning within the network as well as more widely Place based giving is recogn ized as a beacon of excellence in its participative giving practice A stronger profile and track record of place based giving as the 'go-to' organisations for hyper local distribution of funding Place based giving schemes in London have diversified their funding model, with greater success in attracting funding from London's corporate sector Place based giving schemes in London are modelling thelr commitment to equity and justice through their leadership as well as through the way they work Place based giving schemes continue to innovate and pllot approaches which can challenge and influence the wider funding system Within this coming three year period, needs will obviously change through the diverse network we work with, and the external environment we work within, and we have built flexibility into the Hub from the start in order to remain agile and responsive to these. Alongside the development of the Resource Hub, we've continued to support the London's Giving network, and there are now 15 active borough schemes in London, and several in development. This year's data collection showed that since 2018: £30.68 has been raised in income by Giving schemes who shared their data £25.28m has been distributed in grants In 2023124, schemes collectively raised £5.Ilm in income and distributed over £4m to nearly 900 local groups in their communities. Rocket Science completed the data collection as part of the final stages of their work with us as learning partner. This gathered financial and other quantitative information from schemes to help build a picture of Giving across London and make the case for support to other funders. We have now published an interactive data dashboard to share this information. We said we would strengthen our learning programme- dellvering our Festivol of Learning and a new annual conference to bring members together to connert to each other and to new idea5.. Our learning programme in 2023/24 has focused on areas that cut across our membership and which we know are high on the agenda forfunders. We have honed in on what it means for funder5

LONDON FUNDER5 Report and Accounts for 2023124 to share power with the communities they support, how we can reconsider our relationship to risk, and how participatory funding approaches might help funding flow more equitably to communities. Our main focus for our learning programme at the start of the year was delivering our Festival of Learning- bringing together our members from across sectors, with over 780 individuals attending, to learn together across a range of topics- including collaboration, improving processes, embedding equity and participation as well as reconsidering risk. On collaboration, we heard from members about the importance of dedicating time and resource to the process to amplify collective impact and build Systemic change. Another key learning point emerging from the Festival was how funders need to move away from seeing their organisation as a single entity in a collaboration, to understanding where funders can mobilise and contribute their strengths in in a complex system of interconnecting stakeholders and processes. On reconsidering risk, we heard how some funders are viewln8 traditlonal practice to risk as impedin8 rather than enhancing the impact they alm to achieve. For funders who are trying to step out of the traditional way5 of mitigating risks, we heard that working with other funders to jointly share risks as well as building trusting relationships wlth f unded organisations have worked well. On embedding equity and participation, several sessions focused on the importance pay and compensation is to equitable participation. Tips for funder5 in this area included incorporating the costs required for organisations to pay people fairly into their grantmaking budget. We also heard how embedding equity is more than a matter of changing policies to incorporate Diversity, Equity, and Inclusion. At the core of th is is active, open, and perha ps painfully honest ref lection, which leads to changes in actions and approach. Festival sessions explored how to do this through process, data, and recruitment practices, as well as interrogating the origins of a foundation's wealth. Alongside the Festival we looked at these themes through a series of written interviews with members and friends over the year, published as blogs, to understand how these questions relate acr055 multiple sectors, providing an opportunity for our members to learn from each other. While they all have slightly different approaches, some common themes that have emerged from their reflection5 include.. Doing participation 'well' takes time and resources: Some of those we interviewed had underestimated the level of investment needed to be able to train participants, enable them to reach decisions about funding and respond to issues as they emerge. Participation can help build trust with communities who have previously been locked out of funding opportunities: Sported trialed a participatory grantmaking approach with Black-led organisation5 delivering sports initiatives, and found that building in participation and accessibility into every step of the proce55 helped rebuild trust with these groups who have had negative experiences of applying for funding in the past. There are times when participation isn't the right approach: For example, Islington Giving told us that they decided against taking a participatory approach for their mental health fund

LONDON FUNDERS Report and Accounts for 2023124 because they didn't have experience supporting people with complex ment31 health needs. In cases where the cost of participation is disproportionate to the funding available. participation may also not be the right approach. Equally, we heard through an event with US-ba5ed funders that "there 15 no point doing participation unless you have the resources and cornmitment to it" Community tensions: We were expecting to hear more about how community tensions might arise when funderstake a participatory approach butas Camden Givingtold u5,"there is a huge amount of solidarity between panellist5" and those who had experienced tensions found it possible to resolve issues through mediation and community engagement. Local Trustalso highlighted that'overcoming conflict can be really powerful" and ultimately result in better and longer lasting solutions. Scaling up participation can be a challenge: taking a Smaller participatory grants programme to a larger scale programme of work can be a challenge- London Borough of Newham told us scaling up their participatory budgeting programme took more time and staff capacity than they had anticipated. In line with our ambitions for the year, we also held our first Autumn conference, welcoming over 100 attendees, which brought lots of rich learning and insights for how we can build a better future for London. We were particularly excited to hear from international funding colleagues who shared what they've learnt from the creating change and pioneering new initiatives. We heard about the importance for funders having the patience for long-term, systemic change. Although the outcomes from this type of work likely won't be realised for a long time we need to avoid the temptation to step back into short-termism and remain patient that the deeper, messier work of systems change will make a difference. We said we would boost our membership programme- launching o new programme of member- led network qroups that enable the sharinq ofinslghts and the strengthening of collaboration... We launched a new programme of network groups, each chaired by London Funders, members, to provide a space for funders working on or interested in specific areas to meet on a regular basis to exchange knowledge and ideas, find out about other members, programmes and current activities, hear from our friends in the sector, horizon scan, troubleshoot challenges, and seek opportunities to collaborate. Over the year we were pleased to support a range of active networks including., the Advice Network," the Children and Young People Network; the Healthy London Network,. the Housing and Homelessness Network,. the Equity and Justice Network; the Research and Evaluation Network,. the Small Funders Network; and the Arts, Heritage and Culture Network. These member-led networks also provided an opportunity for members to collectively reflect on a range of tOPlCs including: how smaller funders navigate London's funding space, how funders can support care experienced young people, and the Cost of Living Crisis, impact on Londoners access to and use of advice services, Some key themes that emerged from th15 year's network meetings included: charities, call for funders to remain or become more flexible in their support; funders,

LONDON FUNDERS Report and Accounts for 2023124 awareness of the increasingly complex needs facing the city's communities and funders desires to address these needs meaningfully; and. of course, the importance of creating spaces for funders to remain informed about developments in the sector in a way that encourages open discussion, and provides room for potential collaboration. Alongside our Equity and Justice thematic network, we held two Equity and Justice Infrastructure Funding Roundtables, Wlth pan-London funders and social justice organisations to develop a proposal to work together to map the current state of funding for equity and justice infrastructure initially in London, but with a methodology that could be scaled to cover England and Wales in a later phase to identify, on both the "demand" and "supplv side, where there are gaps and opportunities to inform discussions with funders on the strategic development of funding approaches in this space. We hope this work will further strengthen the intelligence and insights that help to drive our member-led networks. We sald we would pllot new tools ond techniques - bringing funders together to explore the development of shared approaches to due diliqence as a platformforfurther collaboration... On shared approaches to due diligence, we held a 'Due Diligence Dinner, with senior leaders of 13 funders whose staff have participated in round table discussions, building support at a senior level for participation in one or more pilots in the coming year. We reopened our survey of due diligence practice, and shared the results across our membership. Following these we held a workshop and three co-design sessions, with both funders and civil society organisations, and are seeking to establish pilots for 2024/25 with a potenti31 focus on a place, a funding theme, and/or a target group of organisations (for example equity led groups). We also continued our work on collaboration with Propel, with two rounds of fundlng during the year - with the first grants being made in April 2023 across all themes of the programme, and a second round for funding in the 'New Deal for Young People, mission going live in June 2023. With these two rounds of funding, £36m has been distributed to 131 organisations, with 79Yo of thi5 going to groups who self identified as being led-by-and-for their communities, in our priority areas of: women and girls, LGBTQ+ communities, Deaf and Disabled people, and cornmunities experiencing raci31 inequality. Through this work we have been testing shared approaches to application forms, reporting and co-designing for future rounds of collaboration through Propel. Over the next year the Propel partnership will be working towards long-term grants and focusing on the learning of funders; to understand how funders are embedding the changes developed within Propel more widely into their organisations, we're establishing clear, tangible markers of success with a view to holding ourselves and each other more accountable.

LONDON FUNDERS Report and Accounts for 2023124 PLANS FOR 2024125 Through engagement with members, civil society groups and partners across sectors we have developed a clear strategy for the period through to 2030, which we will continue to deliver against during 2024125. We've clarified our purpose as being to bring funders together to build a better London by taking action on what matter5 to our city and our communities. We've outlined our ambitions for the years ahead, which are to: Enable a movement of members to have strong and trusted connections, based on shared values and ambitions Facilitate and lead collaborative programmes where only working together can achieve the change that's needed Drive a learning culture, where shared data, intelligence and insight leads to better decision- making and action Whilst working towards our ambitions we will also maintain our agility- responding to events and developments as they arise in London, to ensure we are effective at addressing emerglng needs. The year 2024-25 will see us deliver a ran8e of activities linked to our new strategy, including: l. Launching the new vehicle for funder collaboration with a new Structure, Board of Directors and brand to provide a space for communities and funders to work together, supporting the development of new collaborations in London and beyond. 2. Establishing a new research function to strengthen funder insight and intelligence producing reports in the year on the state of funding for advlce and for equity and justice infrastructure, and working in partnership with 360Giving on the launch of a new data platform for UKGrantmaking. 3. Strengthening our approach to sharing learning- extending the Festival of Learning, holding a new Big Network Day for all member-led networks, hosting our second member conference, and working to create bridges between the academic and funding sectors to learn together. 4. Building connections beyond London to share and shape our work- engaging with UK and international networks of funder5 to bring learning to London and to Share our work more widely. 5. Increasing the impact of our collaborative approaches- piloting new ways of funding for the long-term through Propel, identifying opportunities to influence policy, practice and systemic change, and working in partnership with others to positively strengthen the funding sector in London. All of thls can only be achieved with the support of our amazing members from across London's diverse funding community, and in partnership with the incredible civil society groups working with all our communities- the inspiration of these people will continue to drive our work, and enable us to ensure that our activities remain responsive and achieve the greatest impact we can for the city we love. 14

LONDON FUNDERS Report and Accounts for 2023124 Risk management The Board maintains awareness of areas which could represent risk5 for London Funders, assessing on grounds of likelihood and impact governance, market position, external factors, external credibility, operational and internal factors, and financial sustainability. The Board and staff aim to ensure that there are controls which minimi5e the likelihood of risks within these, if this IS within London Funders, ability, and lessen their impact. Any area5 Still considered high risk are regularly reviewed by the Board at its quarterly meeting5. Reserves pollcv In July 2023 the Board undertook a risk review and as a result of that agreed that the Reserves Policy should be to: "maintain free reserves in unrestrirted funds equal to at least slx months. expenditure on core costs (including staffing, offlce, suppller andproject dellvery costs)". As at 31 March 2024 free reserves totalled £333,088 equal to 5.6 months, core running costs. As this amount is below target, Trustees have reviewed the budget for 2024/25 with the aim of achieving a small operational surplus 50 that the free reserves move to be in line with our policy, Donors and supporters In 2023-24 London Funders is grateful to City Bridge Foundation for continuing to fund some of our core costs, and for supporting the London's Giving Project. City Bridge Foundation also provided the second year of a multi year grant during to support the costs of the Propel funder collabaration, which was also supported by grant5 from the Greater London Authority, Bloomberg, John Lyon's Charity and the National Lottery Community Fund, recognising the cross-sector nature of this important partnership project. We were also grateful to Paul Hamlyn Foundation who provided a grant to London Funders to support the costs of our Festlval of Learning. London Funders, core income comprised membership subscriptions, grants mentioned above, and small amounts of additional income from providlng services and support to other organisations. Overall we are showing a surplus of £20,612 forthe period covered by this report- of thi5 £33,921 was 3 surplus on Unrestricted funding, and £13,309 is a deficit against Restricted funds (reducing the Restricted fu nds carried forward into the next financial year). As noted in the reserves policy, the surplus in the Unrestricted funds has helped move the charity towards its target for reserves, but further work will be done in the coming financial year to ensure the policy is met. Preparation of the report This report of the Board has been prepared taking advantage of the small companies exemption of section 417 {11 of the Companies Act 2006. It was approved and 3Uthorised for issue by the Board on behalf by and signed on its David Farnsworth, Chair, London Funders

LONDON FUNOERS Report and Accounts for 2023124 Statement of Trustees Responslbllltles The trustees are responsible for preparing the trustees, annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Charity law requires the trustee5 to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for the year. In preparing those financial statements the trustees are required to: select suitable accounting policie5 and then apply them consistently; observe the methods and principles in the Charities SORP; make judgments and accounting estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and regulations made there Under. 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 irregu laritie5. The trustees are responsible for the maintenance and integrity of the financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of the financial statements and other informatlon included In annual reports may differ from legislation in other jurisd ictions.

Independant AudltoVs Report To the momber8 of London Fundern Oplnlon We have audited the financial statements of London Funders for the year 8nd8d 31 March 2024 which compris8 the Stalem8nt of Financial Activities, the Balance Shaet. statement of cash flows and the related notes. The financial reporting framework that has b8en applied in their preparation is applicabla law and United Kingdom Accounting Standards, including Financlal Reporting Standard 102: The Financial Reporting Standard applicabl8 in the UK and Republic of Ireland (Unit8d Kingdom Generally Accepted Accounting Practice). Oplnlon on flnanclal •tat•m•nts In our opinion the financial statements: give a true and fair view of the state of the ¢haritable company's affairs as at 31 March 2024 and of its income and exp8nditur8 for the year then ended: have been properly prepared in accordance wlth Unlt8d Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance wlth the requlrements of the Companies Act 2006. 8a•l• lor oplnlon We conducted our audit in accordance with International Standards on Auditing {UK} (ISAS (UK)) and applicable law. Our responsibilities under those standards are furth8r described in the Auditor's responsibilities for the audit of the financial slat8m&nls section of our report. We are indèp8ndent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including tha FRC'S Ethical Standard and we have fulfilled our othèr ethical responsibilities in accordance with these requirements. We believe that the audlt evlden¢e we have obtained is sufficient and appropriate to provide a b8sls for our oplnion. Conclu•lon• r•l•llng to golng conc•rn In auditing the financial statements, we have concluded that the trust88s' use of the going concern basis of accounting in the praparation of the financial statements is appropriate. Based on the work we have perfomed. we hav8 not identified any material uncertalnties relating to 'events or conditions that, individually or collectively, may cast significant doubt on th8 charity's ability to continue as a going concern for a period of at least Iwelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevanl sections of this report. Other Inforniatlon The trustees are responsible for the other information. The other information comprises the infomiation included in the annual report other than the financial statements and our auditor's report thereon. Our opinion on the financial statemenls does not cover the other information and, except to the extent otherwise explicitly stated in our report. we do not express any fo￿ of assurance conclusion thereon. 17

Indap•nd•nt Audltorf8 Report To tha mombors of London Fundern In conn8Ction with our audit of the financial statements, our rèsponsibility is to read the other information and, in doing so, consider whethér the oth&r information is materially inconsistent with th8 financial statements or our knowledge obtain8d in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent materlal misstatements, we are required to datermine whelher there is a material misstatement in the financial statements or a materlal misstatement of the other infomation. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, w8 are required to report that fact. We have nothing to r8port in this regard. Oplnlon on oth•r m•tt•r pr••crfb•d by th• Compan1•• Act 2006 In our opinion, based on the work undertaken in the course of the audlt: th8 information given in the trustees, report (incorporating the dir8Ctors' r8POrt) for the financial year for which the financial stat6m8nts are prepared is consistent with the financial siataments., and the trustees, report (incorporating the directors, report) have been prepared in accordance with applicable lègal requirements. Matt•rn on whlch ￿ ar• rnqulr•d to r•port by •x¢•pUon In the light of the knowledg8 and understanding of the Charity and it5 environment obtained in the course of the audit, we have not identified mat8rial misstatements in the Trustees, Annual Report. We have nothing lo report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us., or the flnandal statements are not In agreement with the accounting records and returns., or certain disclosures of trustees, remuneratlon spe¢lfled by law are not made., or we have not rKelved all the Information and explanations we require for our audlt. Rospon•lbllltlg• of tho tru•to•• As explained more fully in the Trustees, Responsibilities Stal8m8nt, the trustees (who are als0 the directors of the charitable Gompany for the purposes of company law) are responsible for the preparation of the financial stataments and for being satisfied that they give a true and fair view and for such internal control as they determine is necessary to enable Ihe preparation of financial statements that are free from material misstatement, whether due to fraud or error. 18

Independont Audltorfs Roport To the membern of London Fundars In preparing th8 financial statements, the trustees are responsible for assessing the Charity's ability lo Continue as a going concern, disclosing, as applicable, matters related lo going conGern and using the going concern basis of a¢counting unless the trustees either intend to liquidate the Charity or to cease operations. or have no realistic alternative but to do so. Our rn•pon•lbllltlM for th• audlt of th• flnanGl•l 8tat•monts Our objectives are to obtain reasonab18 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. Reasonab18 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 tt exists. Misstatements can arls& from fraud or error and are ¢onsldèr8d material if, individually or in the aggregate, they could reasonably be expécted to influence the economic decisions of users tak8n on the basis of these financlal staternents. Irregularitl8s, including fraud, a￿ Instances of non-compliance with laws and regulations. We deslgn procedures in line with our responsibilitl8S, Outlined above, to detect material misstatements In respect of Irregularltl8s. including fraud. The exlenl to which our procedures are capable of detecting irregularities, inGluding fraud are set out below. In identifying and assessing risks of material misstatement in rèspect of irregularltles, Including fraud and non-compliance with laws and regulations, our procedures included the following.. W8 enquired of management, which included obtaining and r8viewing supporting documentation, concernlng the charity's policias and procedures relating to.. D8t8Cting, evaluating, and complying with laws and regulations and whather they were aware of any instances of non-compliance., 08t8Cting of the risks of fraud and respondlng whether they have knowledge of any actual or suspected fraud,. The internal controls in place to mltlgate rlsks related to fraud or non-Gompliance with laws and regulations. We obtalned an understandln9 of th818gal and regulatory framework that the charily operates in, focusing on. those laws and regulations that had a material effect on the financial statements or that had a fundamental eff8Ct on the operations of the charity from our professional and sector experience. We p8rformed analytical procedures to detect any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud. Because of the inherent Ilmitations of an audit. there is a risk that we will not detect all irregularities, including those leading to.a material misstat8ment in the financial statements or non-compliance with regulation. Th8 risk is also greater regarding irregularities occurring due to fraud rather than error. as fraud involves intentional concealment, forgery, collusion, omission or misrepr8sentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. [www.frc.org.uklauditorsresponsibilitiesl. This description fomis part of our auditor's report. 19

Indepandent Auditorf8 Report To tha momber8 of London Fundars Use of our rnport This report is made solely to th8 charitable company's members, as a body, in accordance with Chapter 3 of Part 16 ofthe Companies Act 2006. Our audit work has been undertaken so that W8 might ststa to the charity's mèmbers 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 acc8pt or assume responsibility to anyone other than the charity and the charity's members as a body, for our audlt work, for this report, or for the opinions we have formed. Anthony Epton (8•nlor 8tatutory Audltor) for and on ￿hall of Goldwln• Llmltod Statutory Audltor Chart•r•d AGGountants 75 Maygrove Road WMt Hamp•t•ad London NW6 2EG 3111012024 20

London Fundors Statement of flnanclal activltl8s (incorporating an income and expenditure account) Forthe yoar ended 31 March 2024 2024 Total 2023 Total Urntrictod R••trlctod Incomo from: Donats'onsllegacies & other income 4.031 4031 3,780 Charitable a¢tivities- London's Giving Propel Membership services 100,000 511,768 63,600 100,000 511,768 311,075 100,000 426,820 351,505 247,475 Investment income 5.381 256,867 5,361 932,235 1,833 883,938 Total Incom• 675,368 Expgndlturo on: Raising funds 5,938 5.938 5,036 Charitab18 actlvitles.. London's Giving Propel Membership services Total ￿pOnd￿tur• 108,473 516.604 63,600 688,677 108A73 616.604 280.608 911.623 108,647 421,872 252,504 786,059 217,008 222.946 N•t Incom• l (•xp•ndlturo) b•for• n•t g•ln• I (lo•M•) on InvMknont• 33,921 {13,3091 20,612 97.879 Net gains l (losses) on investments N•t InGom• for th• y•ar 33.92 Transfers between funds N•t mov•m•nt In fvnd• 33,921 (13,309) 20,612 97,879 R•conGlllallon of fund•: Tolal funds brought forward 299,167 13,421 312.588 214,709 Total fund8 carrl•d forward 333.088 333,200 312,588 All of the above results are derived from continuing activities. There were no other recognis8d galns or losses Other than those stated above. The attached notes form part of these financial statements. 21

London Fundern Balanc• sheet A8 at 31 March 2024 2024 2024 2023 2023 Flxod a88•t4: Tangible assets Curr•nt a•$•ts: Debtors Cash at bank 10 2,677 491,548 494,225 548.913 Llabilitl••: Creditors.. amounts falling du8 within one year 11 (222361) (181,637) N•t cuff•nt aM•ts I Illabllltlu) 333.200 312,588 Total not a•••ts l (Ilabllltlo•) 333,200 312.588 Fund• R8Stri¢ted funds Unr8Stricted funds: Ganaral funds Total unr8Strlcted funds 13 13,421 333.088 299,167 333,088 299,167 Total fund• 333,200 312,588 The financlal stat8ment5 have been pr8pared in accordance with the sp8cial provisions for small companies under Part 15 of th8 Companies Act 2006, Approved by the Board and authorised for Issue on..io/io/w2* David Farn•worth Chalr Ugo Ikokwv Tr•uurgr Company r•gl•tratlon no. 5596299 The attached notes form part of the financial statements. 22

London Fundors statwnent of cash flow8 For the year endod 31 March 2024 2024 2024 2023 2023 N•t ca•h provld•d by l (u•od In) op•ratlng aclfvltt8• 14 52,004 215,775 Cash flow• from Inv•sllng actlvltl••: Int8restJ r8nU divid8nds from investments 5.361 1,833 Cuh provld•d by l (umd In) Inv••llng acllvftl 5,361 1,833 Ch•ngg In ca•h and ca•h •qulval•nts In th• y••r 57,365 217,608 Cash and cash equivalents at the beginning ofthe year 491,548 273,940 C•Bh and ¢a•h •qulval•nt• at th• •nd of th• y••r 548,913 491,548 23

London Fundern Notes to the flnancial statsmonts For th y•ar ended 31 March 2024 l Accounting polki Ba•1• of preparntion The financial statements havé been prep.ared in accordance with Accounting and Reporting by Charities: Statement of Recommended PractlC8 applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102 - effectiv8 1 January 2015) - (Charities SORP FRS 102) and the Companies Act 2006. The charitable company meets the definition of a public benefit entity under FRS 102. Assets ar)d liabilities are inltially récognised at historical cost or transaction value unless otherwisé staled in the relevant accounting policy or note. Golng ¢onc•rn The trustees conslder that there are no material uncertainties about the charltable company's ablllty to continue as a going conGern. The trustees do not consider that there 8re any sources of uncertainty at the reporting date that have a slgnifi¢ant rlsk of causing a material adjustment to the carryirffj amounts of assets and Ilabilities within the next reportlng perlod. In¢om• Income is recognised when the charity h8s entit18m8nt to the funds, any perfomiance conditions attached to the income have been met, It Is probable that the Income will be received and that the amount can b8 measured reliably. Income from govemment and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been mgt, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Incom8 received in advanrA for the provision of specified service is deferred until the criteria for incom8 recognition are met. DoMllon• of glft•. MThlco• •nd f•¢llltl•• Donated professional services and donated facillties ar8 recognis8d as Income when the charity has control over the item or received the service, any conditions associatèd with ihe donation have been met. the r8CelPt of economic benefit from the use by the charity of the item is proba'ble and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 1021, volunteer tim8 Is not recognised so refer to the trustees, annual report for more infomiatlon about their Gontribution. On receipt, donated gifts, professional services and donated facllitles are reccN3nised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain servicès or facilities of equiv81ent economic benefit on the open market,. a corresponding amount is then recognised in expendlture in the period of receipt. IntOrn•t rnc•lv•bl• Interest on fund5 held on deposlt Is Induded when receivable and the amount Can be measured r8llably by the charity. this is normally upon notifiGation of the inter8St paid or payable by the bank. 24

London Fundor8 Nots8 to tho flnanclal statsmonts For the year anded 31 March 2024 l Accounllng pollcl•s l¢ontlnuod) Fund accountlng Unrestricted funds are available to spend on activities that further any of the purposes of charity. Restricted funds are donations which the donor has specified are to be solely used for parlicular areas of th8 charity's work or for specific projects b8ing undertaken by the Gharity. Exp•ndliur• and Irr•cov•rnblo VAT Expenditure 15 recognised once ther8 is a 18gal or constructlve obligation to make a payment to a third party, it is probable that settlement will be r8quired and the arnount of the obligatlon can be measured reliably. Expenditure is classified under the following activity headings.. Costs of raising funds compris8 of trading costs and the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as th8 Cost of any activities with a fundraising purpose. Expenditure on charitable aciivities includes the costs of delivering services, and oth8r activities undertaken to further the purposes of the charity and their associated support costs. Other expendlture represents those items not falling into any other heading. Irre¢overable VAT is Charged as a cost against th8 activity for which th8 expenditure was incurred. Tanglbl• fix•d a•••ts Items of equlpm8nt ar8 capitalised wh8re the purchase prlce exceeds £500. Depreciation is provided at rates calculat8d to wrlte down th8 Cost of each asset to its estimated residual value over its expected usefvl life. Th8 depreciation rates in use are as follows: Fixtures and fittings Computer equipment 330/0 Trade and other deblors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any Irade discounts due. Ca•h at bank and In hand Cash at bank and cash in hand includes cash and short term highly liquid investments wSth a short maturity of three months or less from the date of a¢quisition or opening of the deposlt or slmilar account. Cr•dltorn and provl•lon• Creditors and provisions are recognised where the charlty has a present obligation resulting from a past event that will probably result in the transfer of fijnds to a third party and th8 amount due to sett18 the obligation can be measured or estimated rpliably. Creditors and provisions are nomally recognised at thelr settlement amount after allowing for any trade discounts due. 25

London Fund•rn Not•s to th• flnanclal 8tatsm•nts For th• y•ar •nd•d 31 M•r¢h 2024 2 Incom• from don•tlon•n•g•clM & oth•r Incom• 2024 Total 2023 Total Curr•nt Y•ar Unrestricted Restrided Other Income 4,031 4D31 4031 3.780 2023 Yotsl 2022 Total Prlory••r Unrestricted Reslricted Other Incom8 3,780 3.78 3,780 3,780 3,600 3 Incoffl• from Ch•rlt•bl• Acttvltl•B Curr•nt Y•ar 2024 TotAI 2023 Total Unrestricted Reslrlcted London* Gmng City Bridge Foundation Total far Lafidonll Gmng 100,000 100,000 100,000 Prop•[ City Brfdge Foundallo Gre8ler London Authorlty 81ts)mberg John Lyon's Charfty Natk)nal Lottory Communlty Fund Totsl lor Prop•1 128,000 157.180 126,000 167,180 255,000 65,000 50,000 10,000 46,820 40,000 188,608 188,608 M•mb•rnhlp S•NIc Clty Brfdge Foundallon P8uI H8mlyn Foundallon Trust for London Greater London Authority N81ional Lott8ry Communlty Fund Membership lees T¢)tsl lor M•mb•r•hlp 8•NIc•• 63,600 61100 11000 65,902 10.000 20,000 19.000 12,500 234,103 237,475 47,4 237M70 prtaryoor 2023 Total 2022 Total Unr0$￿¢1fjd Re$trlGtod London'• Gmng City Brfdge FOUnda￿On Total for London• Gmng 100,000 00,0 100,ODO 100,000 100.000 100,000 Prop•1 Clty Bddge Foundation Greater London Authority Bloombery John Lyon'8 Charity National Lottery Community Fund Totsl far Prop 255,000 65.000 50.OtXI 10,000 46,820 426.820 2SO,000 os,000 80,000 10,000 40,820 426,820 M•mbornhlp 8•NIc City Bridge Foundation Paul Hamlyn Trust for Lc￿dOn Gre8ter London Authority National Lottgry Communlty Fund Mefflbership fees Totsl lor Mqmbordhlp Sorvlco5 65.902 80,902 12,500 6.000 20,000 19,000 12,500 20,000 19,000 12.500 234,103 361,SOS 19,000 37.500 229,451 304,451 234,103 234,103 117.402 Total kncomo from ch•rftabl• •ctl¥lll 404,451 4 Incom• Irom InV￿lments 2024 Tot41 2023 Total Unrasiricigd Re8tri¢Xed Bank intsrest 5.361 5.361 5,381 6,361 1,833 1,833 26

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London Funders Nots• to th• finanelal statsments For the year •ndod 31 March 2024 Net In¢om• l {•xpOndl￿v•￿ forthy Thi8 18 statsd after chsrging I Icrèditingl.. 2024 2023 Depreciation Auditor remun8ration'. Audit Fe66 1.738 1,736 1,735 1,735 AMlpl• of #t￿ M•ts, try•t•• r•muTh•ratlon and •xpqn•• and th• ￿1101 k•y managpm•nt p•r•onn•l Staff costs were 8$folk)ws'. 2024 2023 Sai¥rfes aTrJ g•$ Social 5ocuriIy costs Ernployerfs contrfbutlon to dofin•d ¢ontributlon panslon seheme8 376,805 286.711 27,268 19,751 41.086 Th¢ rtum￿r of emplo￿•8 who recelved total employe8 ￿n￿lI(0X¢1U&In9 omployef Pon8*)n ¢a$lsl of more than £eo,oiy). In tho y•ar to 31 March 2024 was as loll¢ws'. 2023 £80.001- £90,001 £9),001 - £100,001 The total emplo￿ b•n8llts IndudSng ptrnBlon conthbutbn$ and na￿ana1 Snsurnnce contrlbutvJn8 ol the key m8nagem•nl personnel were £118,76112023.' £100,721). The eharlty tru8t8è6 were not pald or wtsived any other b'eneflls frorn ernployment ￿th the charfty or it8 subs5d￿ry in the year 12023.. £nill neither were they reimbursed 8XP8n888 during tho ye4r12023-. £nill. No charfty Iru8tee re￿iVed psyrnent for Pfo1868kJnal or other $8rvlces supplied to the ch9rfty12023.' £nlll. 8tAff numb•rn The averag• numberof ompkJyee8 IheBd count baB8d on number ol staff employed) durfng the yoAr was a8 follows.. 2023 Ralsing funds Ch8rilabl8 acllvilhis Support Govemance 0.05 8.15 0.05 5.85 6.20 • T•x•U The charftabl• ￿MpanY is 0￿MPt from eorporatlon tax as all its Incorn• 1$ Charitabl• and 1$ appllgd for ¢harftabl• purposes. 29

London Funders Note# to tho flnandal 8tatoments For the year endod 31 March 2024 Tanglble flxed a•••ts Fixtures and Computer 8quipment Total At the start of the year At the end of the year 1.940 1,940 2.996 Al the start (rf the y82r Charge for the year At the end of th8 year 1,940 2,996 At th? end of the y•ar Al th• $18rt of lh¢ year All of the abov• assats aM u$ad for ehaAiabl• purpo$¢$. 10 O•bt 2023 Trade debtors Oth•r debtors Prepayrnenis 2.020 440 217 2,677 11 Cr•dltor•: amounts falllng Twlthln on• y• 2023 Trade credltors Tax81ion and sodal securtty Other credllors Accruals D8ferr8d Incorn? 4211 31,218 2,569 2,850 3,200 1￿,000 222,281 Ttr7 2024 2023 Balance 8t the beglnnlng of tho y•ar Amount rèleased to incorne in the year Amount d•ferr•d in tho y08r B¥l•nce al the end of th• y•ar 148,000 19400111 161200 211200 145,000 145, C*ferMd Incom• eompri¥g5 GranVrnembershlp$ p8ld In advance 30

London Fundor• Not•• to th• ffinon¢lal •tat•m•nts For tho year ended 31 Il•rch 2024 12 An?1• of net aB•¢l• b8tw••n fvnd¥ General unrestricle ReStr￿ted Tanglble fixed assets Net curr?nl 8s89ls N•t •M•t• •tth• •nd ofth• y••r 333.068 112 JU200 13 Mov•m•nts In fvnd• Al thè In¢omlng OutgolrrfJ start ol resources r•SoUr￿$ the y88r & gains &108SeS Atth• end al Tran$f•rs th• y CA"ly Brfd9e Foundatlon. Member8hip core City Bridg• Foundation. Londons Givlr Propel Tctsl r••trlct•d fund• 63.e(x) 63,600 100.000 108.473 511,768 516,604 8.473 4,948 112 Unr••trlct•d fund•: ¢jon•￿ fund• 299.167 256,867 222,946 333,000 Totsi fvnd• 13a Mw•mwrt• In lund• prtory• At the Incornlng Outgoing stsrt of resources r•50urc88 the year & gain8 &108se8 Atth• •nd of Tran3f?r¥ th• y••r City 8ridgg Found8tion- Mernb8rship ¢or¥ Cily Bridge Foundatlon - Londons GlvlrKJ Nallon81 Lottery Comrnunity Fund Greater London Authority Propel Totsl r••irfct•d fund• 65,902 100,(K)O 12,500 19.000 428.820 65,902 106.647 12,500 19,015 421.872 15,120 15 Q•n•MI fi# 199.574 239,716 140,123 299,117 T)l•l unr••trfct•d IlwKI• Tclal fund• Th• incom• of tt• chartty I￿ude$ grnnts reco￿•d for sp•clfic r•sthct•d proj•cts. The trustees, report includes a descrfption of the activitles of each project. 31

London Funder Notss to th• flnandal 8tatemonts Forth• yoor ondod 31 IAarch 2024 14 Reeonclllatlon of n•t Incom• I lexpendliurel to net ￿•h Ilow from opor•Unq •thlOa• Nat Ineomo l (•xpendliur•) forth• roportlry porfod lab p•rtho atatam•nt dllnanclal actlvlUMI D8precialion Interest. rent and di￿dentIS from Investments Ilncr8asey decreasg in debtors I￿82$e1 Idecreas81 in cr8dilors Not provld•d byl lu••d Ini I)p￿￿J •dlvlU•• 20.112 •7￿7 11,8331 13.8711 1,032 40.824 118,697 52.004 215.775 10 An•ty•l• ofc••h ¢••h •4th￿•nth Atjl At 1 April 2023 Cash flows Other chan9gS 2024 Cash at bank and in hand 491,548 14I91J Tolal c••h ￿•h •qulv•l•nl• 491,048 le L•pl •t*v• of th• oh•rfty The Gharfty Is a compsny limited by yuaranlee and ha8 M share capltal. Each m?mb•r18 Il¥bl• to contrlbut• a $um not •xce•dlro £1 In the event of th• charity being %wund up. 17 R•l•t•d ￿rtytrI￿•KtIonI Tharts arn no related party tran8actlons to dl&clo8e for 202412023.. none). There are no donatk)n8 Irom relatod p&rt168 aro outslde the normRI cour8• of buBln88s and no restrfcted donations from related parties. 32