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← The Kensington And Chelsea Foundation

2025-03-31-accounts

Trustees’ Report and Financial Statements for the Year ended 31 March 2025

The Kensington + Chelsea Foundation

Charity No. 1125940 111-117 Lancaster Road, London W11 1QT 020 7229 5499 www.thekandcfoundation.com @KandCfoundation

The Kensington + Chelsea Foundation

TRUSTEES’ REPORT and FINANCIAL STATEMENTS

for the year ended 31 March 2025

CONTENTS

CONTENTS
Page
Legal and administrative information 3
Report of the Trustees 4-13
Auditor’s report 14-16
Statement of financial activities 17
Balance sheet 18
Statement of cash flows 19
Notes of the financial statements 20-28

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LEGAL AND ADMINISTRATIVE INFORMATION Trustees for the year ended 31 March 2025 Richard Briance, Chairman Abdi Aden Claire Bruce (appointed June 2024) William Crone (stepped down December 2024) Esma Dukali ( term ended February 2025) Clare Ferguson Willie Gething (appointed March 2025) Tom Holland-Hibbert (appointed March 2025) Martin Morgan James Paradise (Stepped down March 2025) Abdurahman Sayed Peter Winslow Gigi Yacoub

Staff at 31 March 2025

Victoria Steward Todd, Director Cathy Bickham, Operations Manager Brooke Dobbyn, Community Engagement + Grant Manager (maternity leave) Anna Prag, Community Engagement + Grant Manager (maternity cover) Jon Fryer, Community Engagement + Grant Manager Caroline Shaikh, Major Gifts Manager Catherine Watling, Corporate Partnerships Manager

Registered Office

111–117 Lancaster Road London W11 1QT

Registered Charity Number

1125940

Bankers

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

Shawbrook Bank Ltd Lutea House Warley Hill Business Park Brentwood Essex CM13 3BE

C Hoare & Co 32 Lowndes Street London SW1X 9HZ

Accountants

Accountability EU Omnibus Workspace 39-41 North Road London N7 9DP

Auditors

Goldwins Limited 75 Maygrove Road West Hampstead London NW6 2EG

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

The trustees of the Kensington + Chelsea Foundation present this report and audited financial statements for the year ended 31 March 2025.

INTRODUCTION FROM OUR CHAIRMAN

I am delighted to report that we continue to make progress in our mission to improve the lives and life chances of the most vulnerable in our community.

From April 2024 to March 2025, we have used our local knowledge and networks to support the most pressing needs in the community, funding 107 projects and supporting over 18,400 of our most disadvantaged residents. We have worked with our supporters – individuals, businesses, trusts and foundations – to connect them to the most vital issues in K+C and have raised £2.1 million. Much of this funding has been directed to support projects in our three core portfolios - Mental Health, Education and Skills and Employment.

During the year we were the Mayor of K+C’s chosen charity. We are extremely grateful for all the opportunities Cllr Will Lane gave us to spread the word about our work and raise much needed funds to support our community.

The Mayor’s personal commitment to our work on mental health was vital, as we aim to tackle this difficult issue and ensure our residents have timely access to the right support. According to our own research, 1 in 12 of our residents has a diagnosis of depression, and 1 in 6 of our young people is struggling with a mental health issue. With the Mayor’s support we were able to raise £86,404 which will all be used to fund projects helping those in our community who are facing enduring or severe mental health issues, anxiety, depression or isolation and loneliness.

K+C is a borough of extremes and of opportunities – a place where poverty and deprivation exists alongside wealth, investment and philanthropy. Our belief has always been that local philanthropists can and do want to support the community to solve some of our greatest problems and build a better borough for everyone. We have set ourselves the ambitious goal of increasing our income to £5million annually by 2030, to enable us to deepen our impact and achieve lasting change.

We believe in the power and impact of local giving to bring our community together and build a more equal, cohesive and thriving borough.

I remain grateful to our loyal and committed supporters, for their engagement, encouragement and generosity. I also commend the excellent work of our small team, who work tirelessly throughout the year.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Kensington + Chelsea Foundation is governed by a Board of Trustees, chaired by Richard Briance.

Trustees are elected by the Board according to skills required to lead the charity effectively. We have carried out an audit to ensure a broad range of skills, and we are committed to diversity across our members. New trustees are elected for a period of three years, after which they may be re-elected, normally for a further period of three years. In exceptional circumstances a third term of three years can be agreed by the Board.

The trustees define the charity's strategic direction and policies and ensure that the activities of the charity are in accordance with its Trust Deed and objectives.

An information pack is provided to new trustees and training is provided. New trustees meet existing trustees and the staff team and are given an introduction to our work and campaigns.

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Management

The Kensington + Chelsea Foundation has a small staff team led by our Director, Victoria Steward Todd. Victoria is supported by five colleagues and occasional volunteers.

We are grateful to all who have volunteered their time to support us in the past year.

Working with others in the sector

We frequently work with organisations similar to ourselves across other London boroughs, with RBKC and the many charitable organisations based in Kensington and Chelsea. We are registered with the Fundraising Regulator.

About the Kensington + Chelsea Foundation

We are an independent local charity set up in 2008 to tackle the key inequalities in the borough. Despite being a highly affluent borough, more than 1 in 5 (23%) Kensington and Chelsea neighbourhoods are among the poorest in England and Wales.

Our vision is of a borough where everyone has the opportunity to live happy, healthy, fulfilled lives. To achieve our vision we use our extensive local knowledge and networks to support our charity partners and connect donors to the most vital issues in the community.

In 2021 our research, ‘Poverty and Prosperity in ~~SSS~~ Kensington + Chelsea’, identified the key inequalities in the borough as being across education, health and employment. In response to this, we established three funds which support projects addressing these needs – Improving Mental Health, Reducing Education Inequalities and Improving Skills + Employment. These funds reflect our strategic focus for the next 3 to 5 years.

In 2024, we published an update to the original report - Poverty and Prosperity in Kensington + Chelsea: A Deepening Divide, which highlighted evidence of growing inequalities in our community.

Poverty:

• 3 of the borough’s wards have a higher rate of child poverty than London or national averages and the difference in child poverty rates between the lowest and highest wards is 27.9%.

• The number of children eligible for free school meals is 33%. This is considerably higher than both the national and London averages and represents a sharp increase of 50% over the past 5 years.

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Education:

Life expectancy:

• Life expectancy differs significantly between residents living in different areas of the borough. For example, there is a 19-year life expectancy difference between women living in Notting Dale and Holland wards, which are just a third of a mile apart. This difference has increased by 5 years since 2021.

Rent Costs

• Our previous report found an astonishingly high proportion of residents’ income was spent on rent, at 69.5% for residents renting a one bedroom flat. Our new data shows that this has now increased even further by 6.5% to 76%.

Mental Health

Last year 97p in every £1 was spent on our charitable activity and the projects we funded reached over 18,400 residents with support and services providing a lifeline to those in crisis. Beyond funding, we research and improve awareness of key social issues affecting our community and bring charities together to network and connect.

OUR ACTIVITIES IN THE YEAR

Grant Making

In the financial year to 31 March 2025, through the generosity of our supporters and donors, we have made grants totalling £1,126,280 to 97 local charities and community groups, supporting 106 projects.

Our Priority Areas

1. Ensuring children and young people in our community have the best chance to fulfil their potential

There are significant inequalities in both opportunities and outcomes in education for children in our community. While 45% of children in the borough attend private schools, 25% of children are living in poverty and their educational attainment is negatively impacted by a combination of factors including overcrowding, temporary accommodation, lack of resources and mental health pressures.

‘A Deepening Divide’ – the 2024 update to our 2021 research report - demonstrated that while there are considerable challenges for some young people in our community, there has been significant improvement on the permanent exclusions rate, since our original report highlighted the issue.

K+C has dropped from having the highest rate in London, to 17th on the list of London boroughs, but fixed term exclusions remain relatively high - we are the 7th highest out of 33 London boroughs. There is clear

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evidence that fixed term exclusions are extremely damaging for young people who receive them and we remain committed to tackling the causes and impacts of exclusions.

Reducing Education Inequalities portfolio

2024/25 was the third and final year of our three-year commitment supporting projects aiming to reduce education inequalities in our community. The projects benefitted 4,417 children and young people from primary age upwards and included:

With the conclusion of these partnerships, in January 2025 we recruited a panel of young people with experience of being excluded from, or struggling to achieve in, mainstream education to help design our new portfolio – Closing the Education Gap. After training and facilitated discussions, the panel assessed over 20 projects and selected 10 new and impactful partnerships which we will fundraise for over the coming 3 years.

The Reducing Education Inequalities portfolio is part of a wider Children and Young People Programme which, during 2024/25, issued £294,042 in grants to the following organisations:

Nucleo Project £15,300 Baraka Community
Association		 £39,075
Fit For Life Youth £25,000 Full of Life £20,000
St Giles Trust £10,000 P3(Rugby Portobello
Trust)		 £17,185
ClementJames Centre £20,000 Children's Book
Project		 £12,982
AllChild £30,000 Kids On The Green £20,000
Hornimans Adventure
Playground		 £13,500 Future Men £27,000
Kensington + Chelsea
YPF		 £20,000 West London Action for
Children		 £24,000

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2. Combatting isolation, loneliness and mental health challenges

In Summer 2023, 1 in 4 residents reported feeling high levels of anxiety, with 1 in 12 having a GP diagnosis of depression. Residents suffering with depression are more likely to live in the most deprived wards of the borough. More than 1 in 6 young people in K+C have a mental health issue, with the most common reasons for GP visits being depression and developmental speech needs.

Improving Mental Health portfolio

This has been the third and final year of our commitment to support projects tackling a wide range of mental health needs. The projects supported by the fund benefited 3,694 local residents, providing multiple services across the spectrum of needs in this complex area:

As these partnerships come to a conclusion in 2025 we are preparing to select new projects for our next 3 year portfolio. We are recruiting a panel of local people with relevant experience and will award grants in early 2026.

£176,333 was issued in grants from the isolation, loneliness and mental health programme to the following organisations:

organisations:
Dalgarno Trust £20,000 One Community £33,333
Family Friends £10,000 Outside Edge Theatre
Company		 £20,000
Latimer Community Art
Therapy (LCAT)		 £32,000 SMART £18,000
Migrants Organise £18,000 St. Cuthbert's Centre £25,000

3. Supporting ambitions - Skills + Employment programme

Residents in K+C face a number of employment related challenges. Not only does the borough have a relatively high unemployment rate, but many residents find that work is not necessarily a guaranteed route out of poverty and need to claim Universal Credit.

Skills + Employment portfolio

In the final year of our commitment to support projects helping local people who face several employment issues, our partners are reporting increased referrals for their services. Projects benefiting 777 local people included:

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As these partnerships come to a conclusion in 2025, we are preparing to select new projects for our next 3 year portfolio. We will be recruiting a panel of local people with relevant experience and will award grants in 2026.

£294,462 was issued in grants from the Skills + Employment programme to the following organisations:

ClementJames Centre £25,000 Pursuing Independent
Paths		 £37,364
Construction
Youth
Trust		 £20,000 Resurgo Trust £60,000
Equal People Mencap £29,393 Smart Works £30,000
Mo1 Youths £29,607 St Giles Trust £40,527
Nova
New
Opportunities		 £22,571

4. VSSF – Small Grants Fund

We work in partnership with RBKC to manage the VSSF (Voluntary Sector Support Fund) Small Grants Fund. The Fund aims to help Kensington and Chelsea to become a fairer borough, to improve outcomes for the most vulnerable residents and to nurture the talents of our residents and help them to reach their full potential.

We delivered a programme which involved recruiting a panel of 10 residents, training them in grant-making, supporting them to design the criteria for the fund and make the final decisions on which applications should receive funding.

After a thorough and transparent assessment process, the panel selected 9 local groups to receive funding. We are monitoring the progress and impact of these projects.

NB. These year 2 VSSF grants were paid in FY 25/26 but are shown here for information

Community Development 4 All £30,000 Neighbourhood
Doulas		 £30,000
Cuban Boxing Academy £7,164 Our Power Hub £30,000
Ethiopian
Women's
Empowerment Group		 £9,944 Urban Eye £7,484
Fit for Life Youth £30,000 WAND UK £30,000
Minds United FC £25,408

5. Community Spirit Fund - Bringing joy and healing to the community

2024/25 was the third year of our easily accessible small grants fund, designed to support events and activities that bring joy, hope and healing to the community after the challenges of the Covid-19 pandemic. The funding available is up to £1,000 per project and supports one-off events and short-term

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projects such as cultural and celebration events, school holiday activities, workshops, sports sessions and equipment.

£43,757 waspaid ingrants to the followingorganisations: £43,757 waspaid ingrants to the followingorganisations: £43,757 waspaid ingrants to the followingorganisations: £43,757 waspaid ingrants to the followingorganisations: £43,757 waspaid ingrants to the followingorganisations:
Al-Hasaniya Moroccan Women
(2 projects)		 £2,000 Neeya CIC
(2 projects)		 £2,000
AMRUK £1,000 Neighbourhood Doulas £1,000
An-Nisa Community Empowerment £986 North Kensington Law Centre £1,000
ASSADEP £995 Nxt Generation CIC £1,000
Beyond The Classroom £780 Open Age £1,000
Cheri Coco CIC
(2 projects)		 £2,000 Persian Care Centre £1,000
Community Cook Off £1,000 Portobello Dance School £1,000
Congo Great Lakes £1,000 Renegade Theatre CIC £1,000
Cuban Boxing Academy CIC £1,000 Response Community Project £974
Dad's House
(2 projects)		 £2,000 Shamaali CIC £1,000
Dalgarno Trust £1,000 SimpleACTS £1,000
Eristars UK £1,000 ClementJames Centre £1,000
Eyukamba Foundation £1,000 St Francis of Assisi Prim £1,000
Fifty Plus Aged EWA £930 StClement StJames School £585
For Women CIC £1,000 Sudanese Association £1,000
Future Men £1,000 Teit Ethiopia Supp School £757
Kids On The Green £1,000 United Learning Trust £1,000
Latymer Christian Fellowship £750 Unity Grove CIC £1,000
Making Communities Work and
Grow		 £1,000 Volunteer Centre K and C £1,000
Maxilla City CIC £1,000 WAND UK £1,000
Mo1 Youths £1,000

6. Supporting Our Community

Winter Warmth and Cash First

Originally started in 2022 as a Winter Crisis Campaign, we have continued to support low income households across the borough who are struggling to make ends meet and having to choose between heating and eating. Help includes financial support with fuel bills, cash to assist with buying urgent essential items like food, and wrapround advice from professional agencies on issues such as debt management and income maximisation.

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This support has been delivered in partnership with key local advice agencies including Citizens Advice K+C, Age UK K+C, Nucleus Legal Advice and Nova New Opportunities and with generous funding from RBKC, local businesses, trusts and residents.

During the year, thanks to these donations, more than 1,000 residents in the borough received emergency financial support and invaluable advice.

RAISING FUNDS, RESOURCES AND AWARENESS

Local businesses, individuals and schools responded positively in 2024/25 to our work and this continuing commitment is of great importance to our long-term stability. We are extremely grateful to those who have continued to support us, including John Armitage Charitable Trust, Cadogan, The Calleva Foundation, DMGT, Kusuma Trust UK, LMAX Group, The Lockwood Charitable Foundation, Elizabeth and Martin Morgan, The Julia Rausing Trust, RBKC Council, Rockspring Charitable Trust and South Kensington Estates.

We are also grateful to our Friends, Patrons and Champions for their support and for acting as our ambassadors in telling others about what we do.

ENDOWMENTS

We currently have three endowment funds, managed by the London Community Foundation, which are Catalyst Housing , The Emily Hughes-Hallett Memorial Fund and Cadogan. The investment income and growth from these endowments is used to support local charities.

OUR EXPANDING ROLE

Our impact in Kensington + Chelsea cannot be measured through our fundraising activities alone. In addition to the key role we play in bringing in resources for charities so that they can tackle local issues, we also bring together organisations who are tackling common themes. Quarterly forums are held for holders of grants made through our priority programmes. These are well attended and valued by our partners.

OUR OVERHEADS

We strive to keep our administrative costs as low as we can, recognising that our role has grown and that we are not simply a conduit for giving money but we are a catalyst for improving the borough through identifying special projects and bringing together the resources to tackle key local issues. With this in mind, we are particularly grateful to those who recognise the vital role we play in the borough by supporting our core costs. We particularly thank Cadogan, City Bridge Foundation, The Julia Rausing Trust and The Kusuma Trust.

EVENTS

Our events programme is important in raising awareness of local needs and bringing together our partners and friends across the borough. In May 2024 we were delighted and honoured to be chosen by Cllr Will Lane as his Mayoral Charity. The Mayor wanted to focus his fundraising efforts on our Mental Health programme. In October, Cllr Lane completed the Royal Parks Half Marathon, raising over £15,000, and as Christmas approached, Christ Church, Kensington hosted the Mayoral carol service.

In February 2025, planning started in earnest for the keynote event of the mayoral year – The Mayor’s Charity Boxing showdown! Working with local boxing club Fit For Life Youth, we recruited 20 aspiring boxers who trained with the Mayor for a grueling 12 weeks until the main event in May 2025. A fantastic evening of highquality boxing bouts culminated in the Mayor’s fight – which was declared a draw by the judges. The event raised over £40,000, boosting the Mayoral fundraising grand total for his term of office to £86,404.

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Other events during the year included an evening with 3 local heroes who work tirelessly to give young people in our borough a brighter future. Supporters heard what inspired them to support young people at risk and the realities for young people growing up in a borough of extremes.

To celebrate International Women’s Day we held a panel event to hear from 3 incredible local women delivering essential services to women and girls across the borough.

OBJECTIVES ACHIEVED IN 2024/25 IN MEETING PUBLIC BENEFIT

The Kensington + Chelsea Foundation meets its charitable objectives to provide public benefit by spotlighting local disadvantage and by raising funds and in-kind support from local individuals, schools and businesses, trusts and foundations, to invest in selected local voluntary sector organisations which achieve significant impact in addressing local needs.

The trustees of the Kensington + Chelsea Foundation are aware of the Charity Commission’s guidance on public benefit and take it into account when implementing the organisation’s charitable objectives.

RESERVES POLICY

Recognising the strategic risk of not securing sufficient funding to cover our core costs, trustees regularly monitor the Kensington + Chelsea Foundation’s financial position, seeking to ensure that sufficient reserves are on hand to cover our projected running costs for at least six months. We believe that this reserve is prudent and allows the charity to address its principal objectives of raising and distributing funds with confidence.

Beyond this contingency reserve, we favour the retention of additional uncommitted reserves where possible up to a maximum of three further months of running costs, both to provide security against fluctuations in income to cover core costs, and to offer the possibility of investment from time to time in the development of new projects. Trustees review this Reserves Policy once a year.

At 31 March 2025 of the £1,212,180 carried forward, £179,029 is unrestricted income held as a general reserve in terms of this policy, while £1,028,700 is restricted for charitable giving.

RISK MANAGEMENT

During the year, the trustees have reviewed the risks which the Kensington + Chelsea Foundation is exposed to and the Risk Register is reviewed annually. The trustees are satisfied that all major risks have been identified and that appropriate internal controls are in place to mitigate them.

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STATEMENT OF TRUSTEES’ RESPONSIBILITIES

To ensure that its responsibilities are met, the Board of Trustees has:

This report was approved by the Trustees on 13th January 2026 and signed on their behalf by:

Richard Briance Chairman

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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE KENSINGTON + CHELSEA FOUNDATION

For the year ended 31st March 2025

Opinion

We have audited the financial statements of The Kensington + Chelsea Foundation (the ‘Charity’) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

•give a true and fair view of the state of the Charity’s affairs as at 31 March 2025 and of its income and expenditure for the year then ended;

•have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;

•have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRCʼs Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

•the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or

•the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the Charity’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE K+C FOUNDATION

For the year ended 31st March 2025(continued)

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

•sufficient accounting records have not been kept;

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

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

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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.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

This report is made solely to the Charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the Charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Anthony Epton (Senior Statutory Auditor) for and on behalf of Goldwins Limited Statutory Auditor Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG

14 January 2026

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The Kensington & Chelsea Foundation Statement of financial activities (incorporating an income and expenditure account) For the year ended 31 March 2025 2025 Total Funds Total Funds 2024 Unrestricted Funds Restricted Endowment Funds Funds Note Income from: Donations & grants 442,343 442,343 311,974 Charitable activities- Grenfell Tower Fund Events and Campaigns Support, Education & Ne￿OrkIng 33.075 1.147,260 164,755 1,411,484 44.756 1,411.484 211,716 162.509 4.451 Investments 8,275 8,275 8.771 Total income 613.127 1.456,240 4,451 2,073.818 1,665,835 Expenditure on: Fundraising activities Charitable activities: Grenfell Tower Fund Events and Campaigns Other expenditure 33.764 33,764 38,675 50,000 1.092,520 1,456,915 333,585 344,087 1.092.520 333.585 Total expenditure Net incomel (expenditure) for the year 367.349 1.092.520 1,459,869 1,889,677 245,778 363,720 4.451 613,949 {223,8421 Transfers between funds (200.000) 200.000 Net movement in funds 45,778 563.720 4.451 613,949 {223,8421 Reconciliation of funds: Total funds brought forward 133.251 428.980 562,231 786.073 Total funds carried fonNard 179,029 992,700 4.451 1,176.180 562,231 All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements. 17

The Kensington & Chelsea Foundation Balance sheet As at 31 March 2025 2025 2025 2024 2024 Note Current assets: Debtors Cash at bank and in hand 334 574,257 574,591 1.185.828 1.185,828 Liabilities: Creditors.. amounts falling due wthin one year 10 (9.648) (12,360) Net current assets l (liabilities) 1.176,180 562,231 Total net assets l (liabilities) 1.176,180 562,231 Funds Endowment Funds Restricted funds General Charitable Funds Total restricted funds Unrestricted funds.. General funds Total unrestricted funds 12 4,451 992.700 428,980 992.700 428.980 179,029 133,251 179,029 133.251 Total funds 1.176,180 562.231 The accounts were approved and signed on behalf of the trustees on 13th January 2026 and signed on their behalf by= Richard Briance Chairman 18

The Kensington & Chelsea Foundation Statement of cash flows For the year ended 31 March 2025 Note 2025 2024 Cash flows from operating activities: Net cash provided by l (used in) operating activities 603,296 {232,288) Cash flows from investing activities: Interest income 8,275 8,771 Cash provided by investing activities 8,275 8,771 Change in cash and cash equivalents in the year 611,571 (223,517) Cash and cash equivalents at the beginning of the year 574.257 797.774 Cash and cash equivalents at the end of the year 1,185,828 574,257 a) Reconciliation of net income l (expenditure) to net cash flow from operating activities 2025 2024 Net income l (expenditu￿) for the reporting period las per the statement of financial activities) 613,949 {223,842) Interest income Decreaseldecrease in debtors Increasel(decrease) in creditors Net cash provided by l (used in) operating activities (8,275) 334 2,712 18,771) 819 494 603,296 {232,288) b) Analysis of cash and cash equivalents At 31 March 2025 At 1 April 2024 Other changes Cash flows Cash at bank and in hand 574.257 611.571 1,185,828 Total cash and cash equivalents 574,257 611,571 1,185,828 19

The Kensington & Chelsea Foundation Notes to the financial statements For the year ended 31 March 2025 1 Accountlng pollcies Basls of prepaiatlon The financial statements have been p￿pared in aC0)rdan￿ wth Acctmjnting and Reporting by Charits'es.. Statement of Recommended Practice applicable to charrties preparing their ac¢ounts in a¢cOrdan￿ Mfjth the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 102 - (Charrties SORP FRS 1021. The charity meets the definition of a public benefft entty under FRS 102. Assets and li8biliti8s are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. Going concern The trustee5 consider that there are material uncertainties about the thartys ability to continue as a going concern. Income Income Is recognised when the charity has entrtlement to the fund5, any perfOrrnan￿ conditions attached to the income have been met, il is probatAe that the Inco￿ *ill be received and Ihal the amount can be measured reliably. Interest receivable Inte￿$1 on funds held on dep)sit is included then receivable and the amount can be measured rel￿blY by the charity.. this is nornially urx)n notffUt￿n of the interest paid or payatle by Ihe bank. Fund accountirbg Unrestricied funds are available to spend on activi1￿ that further any of the purrKJses of charity. Designaied funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use lor a specific purpose. Restricted funds a￿ donations which the donor has specified are to be sdely used for particular areas of the tharrty's work or for spwfic projects being undertaken by the charity Expenditure Expenditure is recognised once there is a legal or constructwe oNigation to make a payment to 8 third party. it 15 probable that setmement will be required arKI the amount of Ihe obligation can be measured reliably. Expenditure Is classified under the followng activity headings-. Costs ol generating funds relate lo the costs incurred by the charity in inducing third parties to make voluntary contributions to it. as well as the cost of any activi￿.e$ wth a fundraising purpose. Expenditure on Charitable activities includes the costs of delivering services and other actNities undertaken to further the purposes of the charity and Iheir associated 5UPPOrt costs. Other expendilure represents those rtems not falling into any other heading. Allocatlon of support costs Support cost5 are those functions that assist the work of the charty but do not dTrectly undertake charitable activities. Support costs Indude back office costs. finance. personnel. payroll and governance costs which support the charilatAe activities. These costs have been allocated to expenditure on charitable activities. Operatlng leases Rental payables under operating leases, where substantially all the risks and Tewards of ownership remain with the lessor. are charged to the Statement ol Financial Activit￿9 on a straight line basis over the lease Debtors Trade and other debtors are recognised at the setuement amount due after any trade discount offered. Prepayments are valued at the amount prepa￿ net of any trade discounts due. Cash at bank and in hand Cash at bank and cash in hand inclLJdes eAsh and sFK)rt term highly liquid investments wth 8 short maturity of th￿ months or less from the date of acquisition or opening ol the deposrt or similar account. Creditors and provisions Creditors and provisions are recconised %there the chanty has a present Dbluab'on resulting from a past event that wll probably result in the transfer of funds to a third party and the amount due to setue the obligation can be measu￿￿ tsr estimated reliably. Creditots and provisions ale normally recognised at their setuement amount after allowng for any trade discounts due. Pènsions The charity contributes into the pension of its employees_ The assets ol the scheme are held separately from those ol the charity in an independently administered fund. The pension Costs charge represents Contributions payable under the scherne by the charty to the fund. The charity has no liabilty under the scheme other than for the payrnent of those contnbution5.

The Kensington & Chelsea Foundation Notes to the financial sL*ements For the year ended 31 March 2025 2 Income from donation5 8 grants (Core Income) 2025 2024 Unresbitted Funds Restric￿ Endowment Funds Funds Total Funds Total Funds Cadogan Eststes RBKC The Julia Rausing Trust John Arrnitage Charitable Trust City Bridge Trust B & J Lloyd FarDily Charitable Trust Martin Morgan LMAX Group The Bridge Renewal (Comerstone Project) Kusuma Trusl UK Kilrinan Trust DMGT Eads Court Development Company 150.(KKb 48.(XX 150.000 48,000 65,000 7,000 10.000 10.000 1,639 10,800 22,500 100,000 1,000 1.000 9,000 150.000 eo.000 10.(KKI 10.CKKI 1.639 10,81X> 22.5 100.OCKI 18.700 10.000 9.029 1.000 1.000 4,500 CMF Charrtable Trust Other Donat￿nS Grfl 935 935 4.000 3.745 Totsl 442.343 311.974 Totsls 2024 311.974 311.974 3 Charitable incom•-Grenfell Tower 2025 2024 Un￿tricted Funds Reskncred Endowment Funds Funds Totsl Fund$ Total Funds Donations Donalion5 rnade diredy to The Kensington & Chels88 Foundation 33,075 Total 33.075 Totals 2024 33.075 33.075 4 Charitable Income lexcludlng Grenfell Tower Fund) 2025 2024 Unrestiicted Funds Reslricted EndowmeTrt Funds Funds Total Funds Tolal Fund5 Campalyns: Winler Warmth Calleva Foundation The Julia Rausing Trust 20.000 100,000 175.000 20.000 100,000 175,000 20.IK)O 50.IK)O 2CQ.000 4,000 RBKC Religious Order Of The Assumpt¥)n Caedow Trust Grfl lknd 25.0(Kl 25.000 4,000 2,650 326,650 5,634 4,450 284.084 Other donations Sub Totsl 326.650 21

The Kensington & Chelsea Foundation Notes to the financial sL*ements For the year ended 31 March 2025 4 Charitable Income lexcluding Grenfell Tower Fund) Icontlnuedl 2025 2024 Reslricted Endowment Funds Funds Funds Total Funds Totsl Funds Chlldren & Young Peopl¢lRedu¢lng Educatlon Inequalities) DMGT & J Lloyd FarDily Charitable Trust Peter & Jan Winslow Anne Rotman Dt Picck)tto CMF Charitable Trust Chris Rok05 Lord + Lady Green Glendower Preparatory &hool Cadogan Est3te5 Rockspring Charitable Trust LMAX Group Grft Other donations Sub Totsl 10.000 10.000 10,000 10.000 50,000 5,000 1,500 50,000 10.000 12.000 14.160 51.600 59.000 51.600 39.000 85.000 14.178 1.570 317.848 51.600 39,000 85,000 14,178 1,570 317,84B 3,513 19.598 239,871 Improving Mentsl Hoalth Anonymous 15.0(M) 20.( 20.0(M) 15.231 15,000 20,000 20,000 15,231 DMGT CMF Charrtable Trust G W Active Knightsbridge Busines5 Group William S31oFnon Lockwood Charitable Trust Cripps PG LMAX Group Wetherby SGhool Kensington CHK Foundation Grft Rocksprinp Charitable Trust Martin Morgan South Kensington Estates Cotnploir Libanais Matston Holdings Lady Emma Verey Calleva Foundation Other donations Sub Totsl 10.000 75.000 5.1)00 29.495 29.495 9.997 10.000 6.250 18.000 25.000 22.500 13.700 18.000 25.000 22.500 13.700 18,000 25,000 22,500 5.000 10,000 5,000 51,300 56,285 319,511 10.000 51.3(M) 56.285 319.511 5,000 181.747 Skllls & Employment Campalgn Calleva Foundation The Julia Rausing Trust finsley Charitable Foundation Isabel Boyer BriK)tnlDn Foundation David Walker Grant Gordon John Armilage CharitsNe Trust The Grove Trust Rockspring Charitable Trust Sir David and Lady Ve￿Y IPrism TNstl LMAX Group SAV Group Gfft￿d Other donations 71,400 71.400 10.000 5,000 10.000 5.000 5.000 70,000 63,0(Ml 63,000 18.030 18,030 5,000 3,500 90,000 5.000 7,572 38.986 45 Sub Total 247.475 247.475 230.058

The Kensington & Chelsea Foundation Notes to the financial sL*ements For the year ended 31 March 2025 Chdritable Incorne lexcluding Grenfell Tower Fund) IGonlinuedl 2025 2024 Unrestricted FutMJ5 Reslricted Endowtnent Funds Funds Total Funds Total Fund5 Community Spirit Grants Julia and Hans Rausing Trust CMF Charitable Trust Sub Total 10.000 1,500 11,500 VSSF Programm8 RBKC 2LK).O(K) 21JO.IJOO 200,000 200.000 200.000 2(K).000 Sub Totsl Total- Campaign5 1.411.484 1.411.484 1.147.260 2025 2024 Unresth¢ted Funds Reskneied Endowtnenl Funds Funds Totol Funds Total Funds Other incomes= Carol + kndrew Gare Other Donations CMF Charitable Tru81 The BndgÈ Renewal IComÈrslone Projecll London Cornmunity FoundatK)nlCadogan Fund$l Anonymous Grfl lknd Other contribution5 from.. Individuals (including merDber5hipl Organisalions Corporates Trusts and Foundations Gift Contributions to Cad(￿￿￿ Kensington & Chdsea Foundation Endowment Fund Sub Totsl 2,500 5,570 2,950 25,000 25,000 14.081 14,081 10.000 516 2.725 2.725 107.039 7.110 24.946 16.C 7.414 107,039 7,110 24.946 16.000 7,414 46.113 51.458 22.918 7,277 4,451 4.451 4,451 211.716 18.403 164.755 162.509 44.756 Grand Total 162,509 1,456,240 4,451 1,623,200 1.312,015 Totals 2024 127.766 1.165.846 18.403 1.312.015 5 Income from investments 2025 2024 Unrestricted Funds Reslricled Endowment Funds Funds Total Funds Total Funds Bank interest IGrenfell Tower Fund) 8.275 8,275 8.771 Total 8.275 8,275 8,771 Totals 2024 8,TT1 8.TT1

The Kensington & Chelsea Foundation Notes to the financial statements For the year ended 31 March 2025 6a Analysis of expenditure Current year Charitable actiwties Cost of raising funds Grenfell Tower Events & Campaigns Other Expenses 2025 2024 Events & Campaigns Winter Warmth Campaign Children & Young People Improving Mental Health Skills & Employment Community Spirit Grants VSSF program Other Grants Grenfell Tower Fund Grants awarded 250,098 294.542 176,333 294,462 43.757 250.098 294,542 176.333 294,462 43.757 331,432 365,433 240,333 251,640 58,804 200,000 31,576 33,328 33,328 50,000 Total donation and grants awarded 1,092,520 1.092.520 1,529,218 Staff costs (see note 81 Fundraising costs Fundraising events Marketing 270,718 270,718 284,044 24.344 9.420 24,344 9,420 20,464 18,211 Support costs Accounting services Premises costs Travel and Subsistence Recruitment Office costs Audit fees Bank Charges Subscriptions Sundry expenses 5,400 21,102 1.268 4,381 23,372 4,920 1,027 710 687 5.400 21,102 1.268 4.381 23,372 4.920 1,027 710 687 5,292 14,064 724 500 10,797 4,800 989 50 524 Total expenditure 33.764 1.092.520 333.585 1.459.869 1,889,677 Total expenditure 2024 38.675 50.000 1.456,915 344,087 1,889,677 Details of Ihe granls awarded can be found in Ihe Trustees, reporL Of the lolal expenditure £367,349 was unrestricted {2024= £360,459}, £1,092.520 was restricted 12024: £1,506,915) and £nil 12024.. 22,3031 endowment. 24

The Kensington & Chelsea Foundation Notes to the financial statements For the year ended 31 March 2025 6b Analysis of expenditure Prior year Charitable activities Grenfell Events & Tower Campaigns Cost of raising Other Expenses 2024 Events & Campaigns Winterwarmth Campaign Reducing Education Inequalities Improving Mental Health Ski115 & Employment Community Spirit Grants VSSF program Other Grants Grenfell Tower Fund Grants awarded Total donation and grants 331.432 365,433 240.333 251.640 58.804 200,000 9.273 331,432 365,433 240,333 251,640 58,804 200,000 31,576 22,303 50,000 50.000 50,000 1,529,218 1.456.915 22,303 Staff costs (see note 9) Fundraising costs Fundraising events Marketing 284,044 284,044 20.464 18.211 20,464 18,211 Support costs Accounting services Premises costs Travel and Subsistence Recruitmenl Office costs Audit fees Bank Charges Subscriptions Sundry expenses Total expenditure 5,292 14,064 724 500 10,797 4.800 989 50 524 344,087 5,292 14,064 724 500 10,797 4,800 989 50 524 1,889,677 38.675 50,000 1.456.915 25

The Kensington & Chelsea Foundation Notes to the flnancial statements For the year ended 31 March 2025 N¢t In￿me l {¢xpendltur¢) for th¢ year This 15 Stated after charging.. 2025 2024 Auditor's remuneration {exduding VAT) Audit work 3.500 3,500 Analysis of stsff ¢osts. trustee remuneration and expenses. and the cost of key management personnel Staff costs were as follows: 2025 2024 Salaries and wages Social security costs Employer's contribution to defined contribution pension schemes 241,906 21,902 6,910 270,718 251,977 26,668 5,399 284,044 One employee's lotsl remuneration was t*iween £80.000 to £90.000 during the year12024".11. The total employee benefits including pension contributions of the key management personnel were £88,708 12024= £84,701). The charity Iruslees did not receive payment or any other benefits from their position wrth the charity in the year12024= £nill. No truslees were ￿1MbUrSe￿ for expenses. No Charity trustee ￿￿1Ved payment for professional or other services supplied lo the charity12024'. £nill. Staff numbers The average number of emFdoyees (head count based on number of staff employed) during the year was 5 12024.. 51. Pension scheme The charity operates defined Contribution pensK)n schemes. Debtors 2025 2024 Other debtors 334 334 10 Creditors- amounts falling due within one year 2025 2024 Taxation and social security Accruals 2.688 6.960 9.648 5,760 6,600 12,360 26

The Kensington & Chelsea Foundation Notes to the flnancial statements For the year ended 31 March 2025 11 Analys1$ of net assets b¢twe¢n fvnd$- ¢urrvnt year Unrestricted Funds Resth"cted EndowThenl Funds Funds Total Funds Net current assets 179,029 992,700 4,451 1,176.180 Net assets at the end of the year 179,029 992,700 4,451 1,176,180 Analysis of net assets between funds - prior year Unrestrcte¢J Funds Restn"cte¢J Endowment Funds Funds Total FLJnds Net current assets 133,251 428,980 562.231 Nel assets al the end of the year 133,251 428,980 562,231 12 Movements in fvnds At the start ofthe year At the end of the year Income Expenditure Transfers Endowment Funds 4,451 4.451 Restricted funds: General Charitable Funds Winter Warmth Campaign Reducing Education Inequalities Improving Mental Health S￿'11s & Employment VSSF Community Spirit Grants Sub Total 33.085 93,089 73,197 62.214 142,738 44.756 326,650 317.848 319,511 247,475 200,000 133.3281 1250,0981 1294.5421 1176,3331 1294,4621 125,0001 19.$13 169,641 186,503 265,392 95.751 200,000 55,900 992.700 90.000 60,000 24,657 428,980 43,757 1.456.240 11.092.520) 75,000 200.000 Grenfell Tower funds Total restricted funds {Incl. Grenfell Tower) 428,980 1.456.240 1.092,520 200,000 992.700 Unrestricted funds: Toial designated funds General Fun(Js 133.251 133.251 613.127 613,127 367,349 367,349 200,000 200,000 179,029 179,029 Total unrestricted funds Pension fund Total funds 562.231 2.073.818 1.459.869 1,176.180 27

The Kensington & Chelsea Foundation Notes to the flnancial statements For the year ended 31 March 2025 13 Movements in fun¢Js (prior period) At the slart of the year Al the end of the year Inwme Expenditure Transfers EndovKnent Funds 3,900 18,403 22,303 Restricted funds: General Charitable Funds Winter Warmth Campaign Reducing Educalion Inequalities Improving Mental Health Skills & Employment VSSF Community Spirit Grants Sub Total 122.759 140,437 180,684 105.800 90,333 18.586 19.2731 284.084 1331,4321 239,871 1365,4331 181.747 1240,3331 230,058 1251,6401 200,000 1200,0001 11.500 58.804 1,165.846 11,456,915) 198,9871 33,085 93,089 73,197 62,214 142.738 18,075 15,000 73,987 21.961 661,974 50,000 58,075 24,657 428.980 Grenfell Tower funds 50,000 33,075 50,000 133,075 Totsl restricted fvnds Ilncl. Grenfell Tob%Erl 711,974 1,198,921 1,506,915 25,000 428,980 Unreslricled funds.. Total designated funds General Funds Total unrestricted funds 70,199 70,199 448,511 1360,4591 125,0001 448,511 . 25,000 360,459 133,251 133,251 Pension fund Total funds 786,073 1,665.835 1,889.677 562,231 14 Endowment Fund Note The followng endownent funds are hel¢J by London Community Foundation {LCFI on behalf of the Kensington & Chelsea Foundation. The Emily Cadogan Hughes- Kensington Hallett & Chelsea End0¥￿￿ent Foundation Fund Fund Catalyst Housing End¢)wment Fund Total Funds 2025 Totsl Funds 2024 Fund balan￿ bir Inveslment income Donation income Investment manager rebate (fee) Investment gainslllossesl LCF management charges Grants awarded Transfers inllouti Net a$$gt$ at the end of the year 77.518 2,119 100.977 2.761 350.184 9,493 528,679 14,373 460,337 13,522 22,303 667 41,188 19,3381 113 {3.5361 {1,4931 145 11,9191 14,5451 744 (21,1331 (12,6901 {14,0811 115,6781 16,6521 114,0811 74.721 97.419 323,752 495,892 528,679 15 Related Party Transactions One KCF trustee is employed by Eads Court Youth Club. another trustee is CEO of the Muslim Cultural Heritage Centre IMCHCI Trust and a third trustee (now stepped down from the Board) is Chief Executive of The Dalgamo Trust. All are excluded from decisions on those organisalions. 28