**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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**The Kensington + Chelsea Foundation**
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:**
- Fixed term school exclusions (also known as suspensions) remain high, with K+C the 7th highest out
- of 33 London boroughs.
- Children on Free School Meals, those with Special Educational Needs and those from Black
- African/Caribbean backgrounds were more likely to be excluded than their peers.
## **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**
- 1 in 4 residents reports high levels of anxiety.
- 1 in 6 young people has a mental health issue but waiting times for mental health services are among the worst in London.
- 1 in 12 adults has a GP diagnosis of depression.
- There has been a 28% increase in mental health referrals between 2022 and 2023.
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:
- One to one and small group academic support for primary and secondary age children
- An intensive, two-year holistic support programme for children at risk of exclusion and poor outcomes, delivered in primary and secondary schools.
- Working with young people at risk of exclusion to provide media training and mentoring, as well as routes to employment in creative industries.
- Holistic programmes for young people at risk of exclusion including academic support, mentoring, counselling and advocacy.
- A schools-based Empowerment programme for Young Women & Girls.
- A borough-wide photography project which provides young people with the opportunity to learn how to take professional photos during the summer holidays, culminating in an exhibition.
- Book gifting events in primary schools to tackle book poverty and promote reading.
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:
- Social isolation is a real issue for a significant number of older residents in the borough. Our projects have helped them to learn new skills and make friends, breaking down barriers and offering new experiences.
- More than 1 in 6 young people in K+C have a mental health issue, and our projects tackled this with targeted therapy sessions in both school and community settings.
- We have also helped those experiencing homelessness or addiction issues to get back on track.
- We supported vital specialist work to help people leaving secure mental health care to reintegrate into the community through support activities in non-judgemental, non-clinical environments.
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:
- Adults with learning disabilities who were helped to build skills and find suitable work opportunities, including with social enterprises.
- Young people who were not in employment, education or training (NEET) were provided with sessions on confidence building, CV writing and interview coaching. Our partners connected with employers to provide links to work experience, qualifications and jobs.
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- People returning to the workplace, often after a break to care for families, were helped with 121 coaching on job application skills and interview preparation, including advice and provision of interview outfits.
- We were also able to work with our Corporate supporters to deliver interview skills training and coding workshops.
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:
- Selected suitable accounting policies and applied them consistently.
- Prepared the financial statements on a going concern basis.
- Made judgements that are reasonable but also prudent.
- Ensured proper accounting records are kept.
- Regularly reviewed financial and operating performance.
- Followed applicable accounting standards, subject to any material departures disclosed and explained in the financial statements.
- Been responsible for safeguarding the assets of the Foundation, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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;
- •the financial statements are not in agreement with the accounting records and returns; or
- •we have not obtained all the information and explanations necessary for the purposes of our audit.
## **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 & NeOrkIng
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 ppared 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$1 on funds held on dep)sit is included then receivable and the amount can be measured relblY by the
charity.. this is nornially urx)n notffUtn of the interest paid or payatle by Ihe bank.
Fund accountirbg
Unrestricied funds are available to spend on activi1 that further any of the purrKJses of charity. Designaied
funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to
use lor a specific purpose. Restricted funds a donations which the donor has specified are to be sdely used
for particular areas of the tharrty's work or for spwfic projects being undertaken by the charity
Expenditure
Expenditure is recognised once there is a legal or constructwe oNigation to make a payment to 8 third party. it
15 probable that setmement will be required arKI the amount of Ihe obligation can be measured reliably.
Expenditure Is classified under the followng activity headings-.
Costs ol generating funds relate lo the costs incurred by the charity in inducing third parties to make
voluntary contributions to it. as well as the cost of any activi.e$ 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 Activit9 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 DonatnS
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
Untricted
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 VeY IPrism TNstl
LMAX Group
SAV Group
Gfftd
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 Inme 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