LONDON
FUNDERS
London Funders
Report and Accounts
for the year ended
31 March 2024
4 Chiswell Street
London
ECIY 4UP
Tel: 020 7255 4488
Email: info@londonfunders.org.uk
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

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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.

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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.

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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.

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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

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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.

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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.

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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:

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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

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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,

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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.

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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•￿ forth*y
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