R•glstered nUm￿r. 07662565 Charity numb8r: 1142788 KHOO TECK PUAT UK FOUNDATION (A company limited by guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 JUNE 2024 KHOO TECK PUAT UK FOUNDATIOM (A company Ilmitsd by guarant••l CONTENTS Page R•f•Y•nc• and •dmlnl$tr•tive (1otail¥ of th• charlty, Its trust••s and ad￿Ser8 Trn$ts••' r•ptyt Tru$t••s' r••pon8lbllltl•s *t*tsmont Ind•ynd•nt audltoes r•port on lh• fin•nclal •t•t•mwts 8-11 Stat•m•nt of flnancl•l actl¥ttle¥ 12 B•lanu $h••t 13 Stat•m•nt of ¢a•h 11 14 Not•8 to th• fln•n¢lal •t•tsm••)ts 15-28 KHOO TECK PUAT UK FOUNOATION IA company Ilmitffil by guarantee) REFERENCE ANO ADMINISTRATIVE DETAILS OF THE CHARifY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 29 JUNE 2024 Trust• Mavis Khctyj Eluatrxth Ktrhjo Eric Khoo kn"m Hai Company r•glJt•r•d number 07862565 Charfty r•gl•t•rod numbor 1142788 R•ol$tor•d ¢)ffl¢• The Scalpel 18th Flcwx 52 Lim8 Street LoThY¢)n EC3M 7AF Company ••cr•tary JTC {UK) LOmit*J Ind•p•nd•nt *udltor Chartered AC￿unI0nts ststutory Audrtor 16 Great Queen Street Covent Ga London WC2B SAH Pagg 1 KHOO TECK PUAT UK FOUNDATION (A ￿MPanY limited by guarants8) TRUSTEES. REPORT FOR THE YEAR ENDED 29 JUNE 2024 The tnAsts•s present their annual r8¥￿ toggttrw wth the audit￿ finanaal statements ofthe Khoo Teck Puat UK Foundation for the year 30 June 2023 to 29 June 2024. The annual rep(¥t Serves the purp)s8s of both a trustees, report and a directo￿. report under company law. The trustees o)nfimi that the annual report and finanoal ststernents of the charitsbk company ¢omply the ()Jrront statutory requirements, the requirom¥nl8 ol thè ¢harilable companrfs goveming 0(￿ment and the prov$S￿n$ of Ihe Statement of Recommendèd Practice ISORPI applicable to ¢harith"e5 preparing thwr accounts in ac¢ordanc4 wth the Finan¢ial Reporting Standard appI￿able In ths UK and Rwblic of Ireland IFRS1021 (effective 1 January 2019). Sin¢e the ¢harty qualifies as small und¢r 382 of lh8 Comparw8$ Act 2LX)6. Ihè 8trategic report r9quired of medium and large companbg$ the Compani88 Acl 2(￿ IStr¥tegic Report and Directors, Roporti Regulalions 2013 has t4en omittsd. ObJoetlv•8 and a¢tlvltl•• . Poll¢b•• and obJ•ctlv•• Th¢ charttys obieclNes are.. - the advancernent Off￿ 8du¢ation of wbr - the relief of sickness and the pr¢swvalion and tharwngnt of h&8nhc•re ar*J rn￿1￿1 rgsgarch. In seltirvJ obi8ctfvg$ 8nd pl8nnThvJ for acts￿￿85, thg IN$tggs have glven due tnnsld8raUon to g&n8ral guldanc8 publishod by the Chaiity Commiss*)n rdats'ng to publK benefft, indudirBJ thè 'Public b8n8flt'. njnning ¢hgrlty IP82)'. b. GrnntrymakSng pollcl•• The foundation wiu fflake grants to other reglstertd chaiib89 to $upport prclects that fvrther th• founda16on's obJ'6c*ves and th8rg h98 Tr) Cha￿ in th15 pJky tho pwiod. Th8 tru$tge8 h8ve pawj due rega￿ to guidanc4 on wblK benefft issued by th& Charity Commission in dociding what activities the foundation ShO￿d und8rt8ke. Tho trusto0s that any re&Jer bo sati8fi8d the Ath'ons of the foundation work tow8r(l$ ts obiecbves. c. Maln a¢tl¥lllo8 und•rtak•n to lurth•r th• ch•rlty• PU￿0￿ for th• publlc b•n•fft During the current period, Ihe foundation has dwi¥•J rentsl income from its ino)me generating assots, th& Investment properties. One proparty was pur¢hase(l in 2011 u&ng an unrestricted don81ion from Khoo Tack Pu81 Ftyjndation. Th8 funds thrtwgh rentsl inC£￿e frrkn thig propwty are Iherefor& unr8stri¢ted. In 2016. followirrfd receipt of 8 £60.￿0.￿) loan, the foundatKJn acqulred a second inve8lm8nt prop8rty to b8 L*ed as an incom8 gen8ratin9 unrt. The k>an was from the Eslale of Kh￿ Teck Puat. Th• lund$ generated through rental incomg from this property are also Unresln"d￿. KHOO TECK PUAT UK FOUNDATION IA company limited by guarantsel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 29 JUNE 21)24 A¢hl•vem¢nts Ind ￿rfo￿lInce •. Review of activlties The foundation has expended some resOu￿eS on th8 maintsnan¢o and running of the inveslment prOpert￿S and these are catego¢i$e(l as fvndraislng costs. Thero h88 8190 bgan expendthre on the management of the fOunda￿On whth are calegonsed as govwnan¢8 ts)sts. DuriThJ the year. tho foundat￿ mad& grants tO￿lIr￿j £2fy).Cl)0 {2023.. £1.905.OC#)l. No addibonal grants havg been Committed at thg lear end. Outstsnding grant c￿nmItM￿l of £405,tM)012023.' £￿5.￿) has been paKJ to Chelsea arHI Weslminster Hoswtsl aft8[ the ￿l￿nd. The Khoo Teck Puat UK Foundation has committed £1.9)5 millKJn to create a brandanew Young Peopla's Rapld sse$$ment Unrt at Chelsea and W&5tminster H05WI. The brand•new Khoo Teck Puat UK FoundatKJn Rawd Asse&sment Unr¢ will be the UK'S first 72thour ass8ssm8nt space for >wng wopl& in mental hèalth ¢risi3. The unit will fomi part ol th8 State-of-th8-Ort Rfju￿n Yt)ung Pwl8's Centre. which wll be staff6d by 8 multsdi$¢iplinory t&am and WAII Integrate mod￿1 cère wlh rnentsl heath care to quickly and seamlessly as$es$. transfer, and Ireal young [￿pIe requiring help. Induded in the grant is a contn'bulw)n of £405,000 lo support Ihree-year prograrnme of Arts in Heamh activibes aThJ thefapeutic int8Thgntion$. as ￿11 as digrlal inlgrvenlions to provide th8 b8St possiblg SUFWt enwronmenl Icrf Jour4 p￿￿. The grant di8bvrsemwts Schedule 13 as folky￿. Paym•nt Amount: £1,000,000 £5CQ.C Du• D*t•'. {month and y••rl December 2022 Iparfj duiing Ihe prKf yparl D8c*mbor 2023 Ipaid during the year) Pald aft•r th• y••r •nd: £405.000 b. Fundr•l$lng a¢tlvltlM and In¢¢Jmo g•n•r•tk*n The foundation'8 fvnds are generntsd thr¢Affjh th8 c(Akntion of rwlol from h8 In￿SImon1 pmport1o8. No fundraising actiwties from third parttes are undertakon. Page 3 KHOO TECK PUAT UK FOUNDATION IA company limited ty guarantee) TRUSTEES, REPORT {CONnNUED) FOR THE YEAR ENDED 29 JUNE 2024 Financial revi•w a. Summary The Statsment of financial acliwties set 0￿ on pag8 12 of the fman¢ial statomants sh(sws how the foundation'8 Ni¢omlng resoums have b8gn wended li thg yoar end¢d 30 Jun¢ 2024. D¢Jring the year the foundalion saw an increase in Inco￿ to £5.741.742 12023.. £5,338.￿l2), along with a reduction in its expend¢ture lo £3.140,05612023.' £4.428.￿71. There has be&n afi incr&a$¢ in the fair valutr of tht Inv&slmenl properties heltj of £12,522.80312023.. loss ￿ fair value t23,100,5651. Resulting in a nel incomiThJ of fijnds in the current financial of£15,124.49212023.' not outgoing of luThJs £22,189.6701. The $iatement of finanoal positw Sgt oul ￿ page 13 of thg financkgl statements shrhv8 th& financial position of th¢ foLsnk1at*)n 8t 29 Jun& 2024. Th8 fouNlalk)n ha$ In¥othnt priJpwb8S With a lalr vakw of £107.622.803 12023.. £95.100.fy￿ Nel current assets of £10,604.24212023.. £16.348.553). Ir￿udeS tenant (Seposits held rnore ihan one year of £1,861,23512023'. £1.703.8CKII. Curienl assets also includes trad8 deblors of £367,17512023." £486,924). rent free poriod b8lancg of £714.342 12023.. £812.8541. Cash at bank and notsce d&kx)srts of £10,732,656 12023: £16,417,122). Current IK4bilitw indudes trad& ¢￿ditOrS of £416,70312023.. £577,337), a donation cornmitmenl 01 £405,orJ) 12023: £500,(Krf)l. Njyo oJrr8nl liabilitiB8 1$ dgftfred rerrtal income of £1.103.929 12023.. £1,054,738). Non current Ir8bilthe8 of £33.891.793 12023: £42.237.793) Is repTe8•nted by principal loans of £32,030,558 {2023.. £40.128.9931. The o8ultlng net 9$8&ts amount kn £84.335252 {2023'. £69.210.7601 ￿1c* 19 rewesentod by unmlricted fiJnd of £84,335.25212023.' £69.210.7601. b. Golng COn￿M After maklng apprwiats enquiri08, Ihe trusteos have a expeclati￿ that Ihe charity has adoquata resourchs to continue in operational existence lor the foreseeab$8 future. For this rgason, thgy ¢onlnu& to adorl tho going ¢on¢em basis in wgpariNJ the finan¢ial $tst¥mwts. Furthgr ¢Jolails regarding Ihe adoption of Ihe going ¢on¢em basis ¢8n btr found in the &xountirKd w)litses. ¢. Re￿1¥?• pollcy 11 is the polw of the loundal*Jn that unreslricted funds which have not been d8signated for a speafic usa should bg maintaingd at a minimum equivaknt to thffje arvj six monlhs. 8xpendituo. The Iru$lees consider that rèsgTh9s at this bvgl w￿1 ensu￿ Ihat. in the event of a Signif￿nI drop ￿ funding, they wll be ablè to contsnue the foundation's current activrties o)nshlerat￿ is gNen to ways in which addia'onal funds may be raised. Free reseNes are in excess of that fi9ur& and ￿rrentlY total £8,743,00712023: £14,644,753). The truslaos aio Cl￿5￿1$nng ￿an$ fw tho 0xcfj￿ rasoNo$ induding any addl￿n81 inveslments. Page 4 KHOO TECK PUAT UK FOUNDATION IA company limlted by guarantse) TRUSTEES. REPORT (CONnNUEDI FOR THE YEAR ENDED 29 JUNE 2024 d. Principal funding In 2022, the loan balance pardble to. the Eslate of Khco Teck Puat fw £48,CQo,Oc￿ was rènewed. for a ftjrthor fNe ysars lo May 2026. The k)an is se¢ur¢d (m Ihe 4r)veslm¢nt property and is interest free. The loan is to be rep8id on th& tr8rfier ol the 5th year artniv8rsary ol th8 amendment or the dale when the PfOP8rt¢8s are sold. DurirvJ the ￿￿. there was a repa￿nent against Ihis kwi ba￿nCe of £10.(4XJ,00012023'. £Nill •. Unr••trlct•d fun At Ihg sear gnd. *1 of thg ftFnds of thg fwndatKM c￿$￿1￿8(1 to b& unfestn"c*ed. The Invastsn&nl properties of th8 foundation arg Maintain￿ in lin¢ ￿1h th• foundab"on'$ ¢on8orv8b"ve attiiude to risk, which aims to conserve the value of its income generating inveslmenls. but any Tealised gains on the valuation of this could be usod to fund grants as with th8 invostmgnt income of tha foLtndation. Unrastrictgd fvnds are to be used for th& charitabl8 objecttves ol the foundab.on as the trustfjes con$Kl&r appropriate. At th¢ year end thtrse 8re £84,335,25212023'. £69.210,7601. wthid) irtlud88 an unr88trid8d re8ery8 b8￿n¢% in relation to loan discounting of £3,969.44212023'. £5,871,007). Structur•. gov•rnanc• and man*q•m•nl . Constltutlon Kh¢)J Tock Pugt UK FouThJalbn o rnglstorod as a tharltabl& c4>)7pany limltod by guarante• and was set up by IAem¢y8ndum of Assc¢Lqtion 8 Juno 2011. b. Methods of appolntmont or d•¢Uon of tru•t••• The management of the charity th& resp(￿SIbI1￿Y of the tw9t0￿ vtho are 8PFdnled by re￿lUtIOn of the 80 member, Khoo Teck Pual Foundation. None olthe Injstees has any benefiaal interest in tha foundatson. . Organl•atlon•l •tructur• and d•chlonryrnaklng pollcl•s The board of trLbSt8aS 15 the t(*Jy responsbl8 for the managemenl of tha foundation. Th& board mgets riodically 8$ noedgd Iwt not l&ss than annualy. All maior de¢isTr)ns reg8riJing the loundation are approved by the b)ard of trustees. (L Poll¢te¥ •dopt•d for th• 0ndUdk￿ Ind hlnlng oftruth• New trustees ￿￿[g0 an orientakn day to trfi8f theffl cm Ihwr l&Jal dJlNJations undor charlty aTrJ company law. the CC￿t*nt of the Mèmorandum and Arlic￿S of Assoo"alTh, the committse, the decision making process, the business plan and re¢ent finan¢ial perfomance of Ihe foundation. Trustees are encouraged to attend appropriate exlemal training events ¥*￿re these wll faalitaie the undertaking of their ro￿. As disdosad In noto 12 no Trustees ￿￿1Ved remunerntion or r•imbutsement ol eXp￿SeS lrnm th• foLrnd8b"on. Page 5 KHOO TECK PUAT UK FOUNDATION IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 29 JUNE 2024 Structure. governanc? and manag•m?nt {¢ontinu •. R•lat•d party r•latlonshlps Thg loundab.on Is the UK subsidlary of KhcK) Tedt Puat Ftxjndali￿, a charitable organi8ats.on founded by Khoo reck Pual which is incorporated in SingaFQTe. The InJste8s work to ensure th8 foundation fvlfil$ Khoo Teck Puat's philanthrwc goals. Of the trustees.. ma￿ Kh￿. Elvzabeth Khts) and ia)00 Kim Hai 8r& twstees of thg parent charlty. As at Ihe balance sheet date, KI￿ Ter* Puat UK FrANKlati￿ E32.030.558 (2023.. £40,126.9931 to the Estat8 of Khoo Puat. During the ￿Par the fryjndation receNed rentsl irKyJme of £148.50012ff23". £110,80DI from Royal Garden Hotel Limited. a company under the common ￿ntr£I of th8 Trustees. As at tha balan¢e Sheet date. Khw T8¢k Pual UK FoUndat￿n wa$ owed £44.550 {2023.. £NII} by Royal Gwdon Limitod. f. Rl$k monag•m•nl The truste￿ have 888ess¢d the maity risks lo tho chanty is 8xpos8d, In partkular thosg rglated to tho operabons and finances of ihe charity. and are satssfied that systems and pmc8durns arg in plac8 to mib'gato •xposur8 to the major risks. Th8 fOUndatic￿ actively manages Its propgty ass$ts lo ensure th& foundation rocoivas Jong tèm s&¢urn investm&nt in¢om&. provM1ing th& f￿r￿JaI•>n wilh ¢a8h fesources from whlch to makg gf8nts whlsl protoctirffJ the I(mJndat￿'8 cawtsl a8seL Pl•n• for future p•rlod• Thè foundalK)n continue to contrilxrte to lh8 heaNhcare s•aor. with a fo(yJ8 M thg ngody and undorsoNed ¢ommunitl8B. Dl8clo•ur• ol Inforn￿lI0n to audStor Each of the persoris trust88s at th• timw tlw$ trust¥•¥ r•p)rt 1$ approved has confirmed that.. so far as Ihat trLth is 84¥arn. ther8 is no rglovant aLvJii infomatiw of vthith the charW$ audltor 18 Unal￿re, and that trusteo has taken dl th8 Steps th8t ought to h8ve bw tsken as 8 InJ8leo in tsrdef lo be aware of any ro18vant audit inf0m￿tIOn and to ests￿lSh that the charitys audiior is aware of Ihat information. Approved by ots of th& mwnbws of the bts•rd oflFUBtees and $wr￿d on thwr behair ty. Mav5s Khoo Trustee D8te.. 5 May 2025 Page 6 KHOO TECK PVAT UK FOUNDATION IA company IlmSted by guarant••) STATEMENT OF TRUSTEES. RESPONSIBIUTIES FOR THE YEAR ENDED 29 JUNE 2024 The trustees Iwho a￿ also the directors of the charrty for Ihe purposes of company lawl arg wponsible for preparing the trustees. ieport and th8 finaw81 statements in accordance with applicable Lqw and Unit&J Kingdom Accwntry StsndaTds (United Kingthjn Genaralty kn8ptod hu￿Aling Pracknl. Company law requires the trustees to pyepare finanaal st*oments for each financial ￿1. Under ￿Mpany+3￿. the trustees m¢Jst not approve the financkal StstemW￿ unless they are satisfied that thay giv8 a tnje and fair view ol Ihe slate of affairs of thg ¢haiity arxl of ts incoming resources and appluth.on of resouices. induding its In￿M￿ and &xpenditur8, for that wic4J. In t1￿ financoj slatements. thè trustses are ffjqultgd to.. select suitable accounting pol￿19$ and th&n apply th&m u)n8iStenUy' obserye the m8thods and princi￿aS ol th8 Charilw SORP IFRS 1021,. make judgmenls and accounlirg estimatgs that a￿ roasonable 8nd prud8nt'. state whether appluble UK Accountin9 Stsndards IFRS 1021 have been folky•Md, 8ubjg¢t 10 8ny matertal departures disdosed and explained in tho financial staloments., prepare the finanual stat8m8nts on t1￿ gokng c¢ncwn tQ$k8 urkn It IB inapproptlats to pr88umo th81 the charity wll continue in busbness. The trustees are responsibl8 for kegping adequate aco)unling records that are suffici&nt to show 8nd explain the charitys transactions and ¢Ji8¢h)se wlh reasonable accuracy at any timè thg finan¢ial ￿5*tiOn of the charity and enable them to ensure thal th8 financial statemgnts compty ￿ thè Companies Acl 2C¥)6. Thgy 8re 8150 sponsibtè for safeguarding the assgts of thg Charity and for tth'ng reasonablg steps for the pravention and detection of fraud and other irr¢9ularil*s. Page 7 KHOO TECK PUAT UK FOUNDATION IA company Ilmlt•d by gu•rantso1 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF KHOO TECK PUAT UK FOUNOATION Op5nSon We hav& auditgd the finan¢ral $tat8ments of Khty) Te(* Puat UK Foundation ltho'¢haftyl for the year ended 29 J¢Jne 2024 which ¢ompris8 the ststement of financaal activthes, the balancè $heet, the stalemtnt of cash flows and the related r￿te3. including a summary of SKdnIr￿anI ac£ounb"ng pol￿85. The financial reporting framework that has been apph'ed in their preparation i% akWi¢ab￿ law and United Kingdom Accc4Jnting Stsndards. including FirtancAal Reporting Slandarf 102 The Financ4al Repcffbng Standard applicabl8 In the UK and Republic of Irelanrt IUni18d KIn￿10M Generalty Acceptgd kc¢wntirvJ Prath¢o}. In our O￿nIOn the financ4al slatem8nts'. give a tNe and fair Yw4 of the slate of lh• Chonlablo c¢mpanY5 affairs as at 29 Jung 2024 and of its incoming resourc88 and appluts￿ crf res0￿￿88. Ind￿￿j its incom& and exp8nditur* for th& ￿ar then ended.. have been prcwrty kwgred kn a¢o)*ance with Urnted Kingd￿￿ Gan8raNy A¢*•d A¢wJnllng Practice., and have been prepared in wlth the wuirewénts of the Companies Act %M)6. Basls for *￿InIon Wè conducler a pgrN* of a¢ 1&98t months from t•rt￿n the financlal stslemonls are authorised for issue. Our r&spofisibilrfies and the resF￿s￿lIkn8S of the InJsta9S With 1gspKI to gcrfNJ concèm are d8scrited In thg relevant sections ol this report. p￿e6 KHOO TECK PUAT UK FOUNDATION IA eomp•ny limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF KHOO TECK PUAT UK FOUNOATION (CONTINUED Oth•r Snformation The olher information comprises the infom)ation i￿lUd$d in thg annual other than the financial stat&m8nts and our auditorfs ￿k￿*rt ther&on. Tho trust8e$ art reSponsi￿e for the other infomiation contained w7thin the annual r&port. Our Ok*nK￿ on Ihe finanrAal statements does not cover the other infomi8b.on and, except to the extent otherwise explKAtty stated in tyjr repjrt. we do Njt axpr8ss any fomi of assurance conclusion thereon. Our responsibility is to fead the olher infc*makn and, in t1o¢ng so. consider whether the oth&r inlomatton is materially inconsistgnt the finanpar for whkh the financigl $18lemonts ar¢ prepared is consistent vhth the financial $tatsm8nts. th6 Trustees. Report has boan wgp9rwJ Sn occ<¥(18rK8 appllc8t48 legal requirements. Al•tt•rn on whkh wè •r• r•qulr•d to r•port by •x¢•ptl¢)n In tho ltsjht of our knowW• aThJ wkY8rntsndity of Iho tharTrtablg ¢￿￿par￿ aThJ its onvironment obtsined In tha Coufge of th& audit, wo have not idenlffjed malerI￿ misststeThnts in tha Tru$tges' Roport. Wg have nfAhiwJ to rewt in rt8pKt of the mait8rn kn r8lg1•)n to whlch Comp8nit$ P£t 2006 requir•s us to report to you rf, kn our Own￿￿.. ad8quate accoLsnting records ha￿ not r)8on kep( or retum5 adequate for our audit hgvg not téen received from branchas Mt wsrtfjd by us,. or the financial statements are not in agreement thg &I￿nting reojrds retLKns,' or certain disclosures ol tru$tg9$' ffjmun&rdtNY spetsw by law are not made,. or have not Teceived all th8 Inf(¥mation and oxplanations require for our a￿lIt., or th8 tnJst8es were not enti118d tr> prepare the finantial 8181ement8 in acCOrdar￿ the Small comp8nies regim8 and take advant•¥ of th& small ¢ompanie$' eX￿tiOnS in prepariThJ th8 Tru$to9$' Report and from the r8quw8ment to prgpare a Str8tegK Rewrt. Page 9 KHOO TECK PUAT UK FOUNDATION IA company limit•d by guararteel INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF KHOO TECK PUAT UK FOUNDATION {CONTINUEDI R•8ponslbiliti•¥ of tru•te•* As explain￿ more fvlly in the tnJ$l86$' responsibilities statement, the trustees Iwho aro also thg directors of the tharitable company for the purpose$ of company Jawl arg roswnsiblo for the preparation of the financial statements and for W"ng satisfied that Ihey 9￿8 a true and fair view. and lor suth intemal cC￿trol as thg truslee8 dat8rmine 1$ nwssary to enable the Fwaration of financral statements that arg fr88 from material misstatement. %thether due to fraud or erfor. In Preparing the finan(ial stal8mont$. th• trust￿ arn ￿$￿￿81b1& for 8888ssing the chaiitabl8 compan1$ ablllty to continuo as a going concgm, di8closlry. as appltstAe. matters related lo goiThJ c#Jncem and usin9 th$ going concern bass of *cwnting unless the tntstees either intend to liquidato the Charitab￿ company or lo ceaso operations, or have no realistK altwnative t￿1 to do so. Audltorfs r•spon•lbllltl•• for th• •udlt ol th• fln•Klal statsmonts We have b8•n apF#)htt•d as audltof urwjw secllon 144 of th& Chafili8s P£t 2011 and report kn octh8nco ￿th the Act and rnlevant rgguloti¢)n$ m•J& crf h8vmg e￿t thereuTrder. Our oblfjcuw 8w lo obtsin rna80nablo assur8rt4 ats)ut whether the financ481 stst8m8nts as a wholo affj free fvom material misststernenl. whether due to fraud or effor. and to Is$￿ an 8uditof$ r¥port that includes our opinion. Reasonab￿ assular￿a is a hwjh lgvel of assuran¢¢, but is not a guarantee that an aLtdi( conduct8d in accordance with ISAS IUKI wll ahv8ys Il¢te¢t a material mY85tatemenl rt exists. Misstatements can aris& from fraud or error 8nd are ¢on81￿ed malerial if. indiwdualty or in the 8ggre9ate, thgy ¢oul¢J reasonably be expectod to influence the e¢onomic decs'sions of users takan on th8 basis ol ihesg fJnan¢ial stst¥ments. Ifregulari1188, in¢l￿j￿n9 fraud. aTe in5tsrrn of nW0Th￿I8nce vhth la￿ 8nd fggul8lon$. We d&stgn procedure¥ in line wrth our responsibilities, ¢￿tlin8￿ ats0￿. to d¢t¢ct material m¢55tatements in resp8Ct ol irr8gLtlaritiès. Includlng fraud. The gxlgnt lo tyJr PTrKeduTes are capatde of detecting irregukntia$, in¢luding fraud 18 datsilgd below.. the •ngag8ment partner er￿￿ed that engag8m8nt tsam cdectNdy h9d th¢ apkYcyi8te competsncAry, ¢apabilities and skn'lls to Kjentsfy or rerxgnise r￿•cOMpliance wth applicable laws and regulats"on$.' we Klenlified Ihe laws and reguktions appI￿a￿e to the tharity through discus$ions wrth trustees and other management, and our commercial knoYAeth3e aTrJ exp8ri8nc8 of th8 charty investment property we focused ffi Spthific laws and reguLabC￿S t*hith ￿ constderad may h4ve a dirntx material effect on the lknan¢ial stslements or tho operation5 of the tharilabk company, indudir¥J the Companies Acl 2006, and taxalion18gis18ti0n,' we assessed the extent of D)ffl￿lance *ith tho laws and Iggulatio￿ hJ&nb"fied atove through making enquiries of management.. and Identified laws and regulatiorts wwe cc¥nmLtnicated vrithln ts gudit tsam regularfy and the team remained alert to instances of ￿Tr￿Com￿￿nCe throughout th• audrt. We s￿$$¢d the 8U￿eptibIIty of the chavws financ481 slalements to mat•rial mtsstatwnenL including obtaining an understanding of how fraud might ocojr, ty. making enquiiies of mana98m8nl as to 7fvknere th¢y ¢onSKlergJ Ihere was susceptibility to fraud. their knowledge ol aclual, suspected aThJ all89ed fraut1". aNI ojnsidering the Intern￿ o)ntrds in placa to mJtsgat¢ risks of frauirwJ Supwting dLhxmentation; reading the minutes of meelirffjs olth05e tharged with govemanr*.' and enquiring of man￿ement as lo actsjal and potenbal lrfigation and claim8; Thoro 8rn inhoronl Ilmttathx$ kn our 0￿j11 pro¢•duros d¢xribod aoovo. The moro removed that laws and regulations are from financial transactKJns, the less Ikety it is that we *ryJld become aware ol non•compIia￿. Auditlng Standards also limft tho audlt pro￿U￿$ rgquir•J lo klontify nO1￿complI8n¢0 laws and regulation8 to enqulry of the dlrectors ¥KI other manap8m•nt and In8p•cYon of wulatory and legal CfJrro8p)nd8nce, rf 8ny. Mat8rto1 misstat8rn8nts that arise dua to fratKI can ￿ hgrdw ts) d8t•ct thon th08e that from error a$ they may involve deliberate co￿•1m¢nI LV a￿luSIOn. A lurther d08cripti¢M of tyjr rn8pwibiliti08 for tho •JJit of the finanoal Stslements h bcatsd on the Flnandal Reporting Council's website al: Thij descyiplion forms part of our ouditorfs report. Us• of our r•port Thi$ ￿pOrt Is mad& solely to the chaiibbb ¢￿panIS membgrs. a$ 8 IxNly. in ac￿rdan¢* with Chapler 3 of Part 16 01 the Companie3 Act 20(￿. Our 8udit work has been undertaken so that we might slate to the charitablg companls members those rnatte￿ we are required to state to them in an a*Jditorfs reput and for no olher purpose. To the fLtll•st 8xtent pwmitted by18w. do not acc8Pt or assumè responsibih'ty to anyvne other than the charitable ￿MpanY and its membets. a8 8 body. for our èudTt for Ihis report. or for the opinions we have forrned. A.L"I LLP Mark Hart lsenlor $tatuttyy •udltor) for and on behalf of Bllck Roth•nberg Audrt LLP Chartered Accountsftts Statutory Auditor 16 Great Queen Street Covent Garden London WC28 SAH Date.. 6 May 2025 Page 11 KHOO TECK PUAT UK FOUNOATION {A company limlted by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOIIE AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 29 JUNE 2024 UnrestrScted fund 2024 Total fvnds 2024 Totsl nds 2023 In¢omo from: Inveslments Othèr Incom& 5.741.742 5.741.742 5,163,gJ2 175.000 Total incom• 5.741.742 5,741,742 5.338.902 Exp•ndltur• on: Raising funds Charitable actI￿tieS Oiher expendrture 799.236 439.252 1.901.585 799,236 439.252 1.901,565 711,909 1.925,985 1,790,113 Tot•1 •xp•ndltur• 3.140,Q53 3.140.053 4,428.007 N•t In¢om• ￿1¢￿ n•t g15n￿{lI)m￿) on Inv•8lm•nts Net gainslllossesl cffl irWestTh￿lS 2,801,689 12,$22.803 2.801.689 12,522,803 910,895 23.100,5651 13 Not movern•nt In fund• 15,124.492 15,124,492 122,189,670) R•con¢lll•llon of lund•: Total funds broLfghl forward Nel movemw)t in fiJnds 09.210,760 15.124492 69.210.710 15,124A92 91.4CM).430 {22.189,8701 Total fund• ¢arrl•d lorw4rd 84,335.252 04,335,252 69.210,760 The 8t¥teThnl olfinancial adivibes am gains and108ses rwnised in th& yew. The notos ￿ paw 15 to 28 fcvm part ofthgse finarKial statements. Page 12 KHOO TECK PUAT UK FOUNDAT1014 IA company limlted by guarnnt••) REGISTERED NUMBEIL" 07662565 BALANCE SHE AS AT 29 JUNE 2024 2024 2023 Flx•d a$$•ts Investment prowrty Currènt as$•ts 13 107,822.803 95,100.000 D8btOfS due after moro than 1 Debtors due vthhin 1 >wr Cash at bank a￿1 in hand 14 14 1.861,235 1,305.080 10,732.656 1.703,BOO 1.498,351 16.417,122 13.898.951 19,619,273 Creditors.. amryjnts falling duo vAthii one year 15 {3,294.709) 13,270,720) N•t ¢urr•nt ¥•••ts 10.804242 16,348.553 Totsl •s••ts l•ss currnnt Ilabllltl•8 118.227.045 111,448,553 Crgdilor$.' amounts falling due after m than on¢ year 16 133.891,7931 142,237,793) Total not •M•ts 84.335.252 69,210,760 Charlty fund¥ Unrest￿￿ funds 17 84335.252 69.210,760 Total fund• 84.33S,252 69.210.760 The trustees acknovAgdg¢ their r8spon8ibilities COM￿￿"r￿j th• requirements of the Act with rn$pg¢t to accounting records and preparation of finarKial $1o1om&nts. The financial stataments havo be8n yep8￿j li #C￿danCe wlth tho pro¥Sslons 8OirAble to entities subla¢t to the small compani&s rsgime. The financial stateThnts wgro approwd and aUthori￿d for issue by th8 tNst8as and slgnod on their behalf by.. Mavls Khoo Trustee Dale.. 5 May 2025 The notes on pag8s 15 to 28 loryn part ofthese finandgl slatements. Page13 KHOO TECK PUAT UK FOUNDATION IA eompany liM•t￿ by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 29 JUNE 2024 2024 2023 Note Cash Ilows from opwatlng a¢tlvttl Nel cash used in oporatir¥J 19 3.856,342 4,027,847 Cajh flows from In¥•sllng •thltl•s Interest incom8 459.192 384.856 N•t ca•h pro¥ld•d by In¥•$tlng ¥¢tfvlU 459,192 384.656 C•¥h flow• from Ilnandng Repayment of loan 110,IXIO.OIXII N•t ca•h u••d finan¢lng aelMtI 110,000.0001 Chang• In ¢o•h •nd ¢Mh •quJval•nts In th• y•*r Cash and c4sh eqUNaknnts at the beginning of the 15.684466) 4,412.503 16A17.122 12.004.619 Ca•fv and ca•h •qulvaknts •t th• •nd ofth• ymr 10,732.656 16,417,122 The rKJtes on Pa￿ 15 to 28 fofft part of Iho8e finanra•l statsm•rits Page 14 KHOO TECK PUAT UK FOUNDATION IA company Ilmlt•d by guoranteel NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29JUNE 2024 G•n¢ral Informatlon Kh￿ Teck Puat UK Foundat￿ is a company limited by guarantee inrx)Tporated in England and Wales. Tho charitys registered nurnter is 1142788 and Ihe registered office is The Scapel. 18th Fleor, 52 Lime Slrsel. London, EC3M 7AF. The membgr of thg ¢harity 18 Khtr) Teck Puat Foundation. In th8 event ofthe foundatKfft being wound up, the liability in res￿ ofthe guarantge limit¢d to £1 per mefflber ofth& foLmdatic41. The finarlcial slatamgnts wosentsd in Stsding (£1. ¢ountlng pollcl•• 2.1 B•818 Ot pr•par•tlon of fln•nd•l ¥tat•m•nt• The financAal statements havg b¢￿ prepared in acL4Jrdanca wrfh tho Charities SORP IFRS 1021- Accountsng and Roporb'ng by Charibos.. Ststern￿t of R8comm$nd•d Practice applicable to charities pr9paring Ih•"r a¢¢ounts in accordance with the Finan(#al Reporting Standard applicable In the UK and RepuNi¢ of Ir81and IFRS 1021 {•ff8ctiv& 1 January 20191, lh6 FinancAal R¥￿￿n9 Slandard 8pplicable in the UK aThJ Rapubllc of Ireland IFRS 102> and Ihe Companles Act 2006. Khoo Tock Puat UK FC￿￿tiOn meets the definrt*)n of a public benefit enbty under FRS 102. Assots and liabilithes are initialty recognl8•J gt hIStLYk￿ cost or transacknn ¥8￿ unl988 oth&rnylse stated in the relevant accountin9 policy. 2.2 Golng conc•m After making enquiri•s, the twstses have a reasonalAe expectati¢)n that the foundation has adequoto resources to continug in ¢)perats'on41 e￿StenCe and mg&t its liabilibes as they fall duo for the I￿S489b18 fulure, teing a period of at least months from the date Ih8so financial stslements wefe approved. Accordingly. Ihey ￿ntinue to thpt U)e goirvJ ojncem basts in prnparing the financsal stslements. 2.3 Incom8 in(yJmo r8 rwni8gd once the c*awrty has entille￿ to th& kn(x)me. it 1$ probable that thg inc￿9 11 b9 r8¢gW 8ThJ Ihe amourrt ol T8cglv8blg can b& m&asurnd rnI￿bty. Investrnenl income ojmprisgs ￿nts1 income. servTh tharggs ond olh8r fecoveries from tenants ol the charitys In￿$￿￿￿nt properties. Rental incom8 is rg¢09nise(l on an accruals basis in the period in which rt is eamed, in accordan￿ th& 18rn￿ ol the lease. Inducements offèrad to tenan15 as an incentive to sign an operth"n9 a￿ reCCSn￿d on a straight4in& basi$ over the lease term. untess another Systemat￿ basis is representative of tho tim8 pattgm of the lessee'5 benefit from thg Uso of thglgased as86L Other income is wnised in the periLMJ tn it is racewa￿9 atyj lo thè oxtenl tho goods have Page 15 KHOO TECK PUAT UK FOUNDATION IA ¢ompany limitod by guarantee) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 29 JUNE 2024 ountlng polklo8 {contlnu•d) 2.4 Exp•ndltur• Expenditure 1$ r8cognis•d there is a18gal or oytstructivo oblwatiort to transf¢r economic b•n8fit to 8 third p8rty. it is probable that a transfer of ￿10m￿ beneffts will be required in settl&mgnt and the amount of Ihe obl￿allOn can b8 moasurod rdiably. Expenditure is classified by actlvity. The ￿St$ of each activty are made up ol Ihe total of direcl costs and shared costs, including 5UPPOrt costs Invotved in undertakn.ng ea¢h activity. Llrect costs attributablè to a single 8¢tivty are allocated d1￿CtlY to Ihat adivity. Shared ry)sts contnbutè to more than ￿e activity and support costs wh￿h are not attributab￿ to a acthvity a￿ oppoityoned behveen those activities on a basis ¢on515tent with th8 usa of resources. Contral stsff costs are allocaied on th& baws of tlme sp&nl. and depreciation ¢haryo$ allctaled ￿ th8 pjtion of the asseY$ (￿. Gov8rnance costs are thosg in¢urrgd in oJnno(*¢Jn wilh •Jfflini$trallon of th& thartty and eomplian&g with consbtubonal and stslulory reqwrements. C051s of generalirg fund$ piowty makntenanco running ￿t$. Charitabl& a¢tNities and wvemanra ojsts ar8 Cost In￿rred on lh& Charitls operations, in¢luding SLrpport costs and costs relating to ihe 90¥eman￿ ol Charity apportioned to charitable adlviti&s. Exp8ndrturg on ralslng fvnds ind￿￿0$ all expenditure incurr8d by the c*8r*ty lo raise funds for it8 chanta￿8 purp￿8 and indudes cosls of all lundraisin9 •#ivitio$ events and non-charitsble trading. Expenditure on charitabl• acts¥i11o$ b Incurrod on dKeclly undertakirg th& aGtivlt* vknlch fvrther th• Grant$ Payable are charged in the yèar vknen thg off•r is made except in those casos whgro th& offer is conditional. SLth grants bglng o¢trJniged as expenditure when the condrtKJn8 atlaching are fulfilled. Grants off8rgd subi&d to Cor￿lI10n3 which have not bgen mgt ¥t the fd8f entj are noted as a 2.5 Int•r••t r•c•l¥abl• Interest on fvnds hehj on ￿e[￿rt is indud8d when receivabbe and the amount can b8 meas(r￿d reliably by the thartty", ihis Is nomalty up)n noifKation of the inl818St paid or payable by th• institution vthh whom the funds Arg deFK)stted. 2.6 Inv•4tm•nt prop•rtl•• Invesbi)enl kvopety is C8ffied at far value det8rfflin8d oMU81ty and derived from the curr8nt Ma￿¥1 ronts arKI investrnenl propety wekls for comparable real estate. adjusted il necessary lor any difference in the nature, k¢ab"on or ¢￿ditIOn of the specffic asset. No dèpreuation 18 provided. Changas in foir value are re¢¢gnis8d in the siateThnt ol finanoal actm¢￿5 In¢0￿)rating income and exwndrture acctsjnt. 2.7 Cash at bank and In hand Cash at bank and in hand in¢lud&s cash and short-tenn highly IHJutd investrnents vthh a short maturity of three months cw ￿sS from th¢ dale of acquisilion or op8FMng of the doky)sii ¢y similar acc4JunL Page 16 KHOO TECK PUAT UK FOUNDATION IA company limited by guaranto•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 JUNE 2024 Accounting pollcl•s Icontlnu•dl 2.8 Flnanclal Instruments The ojnpony has t￿cted to appty Sections 11 aThJ 12 of FRS 102 in respec* of financAal Instruw￿ts. Flnancial assets and finan¢lal lakn.lths arn re(y)gnisod vknon the chaiity bocomtts party to thg contr8¢tu81 provis￿)n8 of the instrument. Finanual liablit￿S and 8qufy instwmants are rjassified acc4JtdirwJ to the sub8t8nco of th8 contractUg1 arrang¢m&nts enterod into. An equty instrum8nt is any Ce￿ that 8￿denCeS a residual int&re81 in the assets ol Ihe company after deducting all of rts habilit*s. The thaiitys pc4ici•s for rfs mgAty cla88es offinanrAd assets and finand•l liabilib"o5 arè set out b8tow. Fln•nclal 4•••t• Basic finanaal awls, indth4ing trade al￿ other debtors, are inib8lly rocognised al transaction prlce. unl9$$ the 8rrangemont constitutes a financin9 transaction. where the transaclion is moasurgd al the present vahje of lh8 futLbre receipts discountsd at a markel fate ol intgrest for a similar debt instnjment. FinanaThJ transadbn$ arn Ihw in which payment 1$ def8rrgLI b&yond normal busingss tsrm$ CY Lq flnanc•d at 8 rate ot inlerest that is not a mathgt rate. SLKh assels are Subseq￿ cafri•d at •i)orti8•d cost using tho 8ff•ctiv8 Intoro$t rat& method, less any impairn8nt. Fln•nd•l Il•bllttl•¥ Basic financial Irabilrfi•s, Indudin9 trade and other creditors and Othgr loans are inilièlly recognised al trnn$acti¢)n pn"¢&, unltss Ihe arrangement constitut•s a finan¢tng transaction, where the dgbl inslrumenl is measured at the presenl value of thg fvture payThents discounted at a market rate of intsrest for a ￿milar debt Instrum￿1. Fifian¢ing transact*)ns aro those In %thi¢h payment is deforred beyond nc¥mal busin88$ tgrms or is financed at a rate ol interest that rs not a markel r81e. Debt in$lwments are subsequenty ￿rr￿d 01 anKrti8ed cost. using tho effactrvg intoresl rats method. Impalmi•nt of finan¢l¥l u••t• Financaal assets measured at cost and amorfiged cost are assessed at th8 &nd of 08¢h rewbng per¢od lor obpth've wdence of impainnent. 11 c*ioctiV& gvthnt% of impairment is found. an Impalmienl is reowi¥ed in the wofft loss scu￿nI. For finanaal assets mèasured ot ￿$1 les5 impairment. the impairmgnt loss is mèasured as the drfference b8tween the asset's Ca￿.ng amotmt and Ihè estimate of the amount the company would ieceNe for the asset if it were to be sold 81 the reporting date. For fina￿￿1 assets mea8urnd at amorlised cost the impalm¢nt k)$8 is measured as the diff8r8nco between the 85sel's caryng amount and the presant value of estimated cash flows discounted at the assefs original effective interest rats. If thtr financial asset has a variable intèrest rate. the discount rata for m&a$urfng any impairment 15 the current effective inleresl rate delernined under th8 contra¢l. Pag¢ 17 KHOO TECK PUAT UK FOUNDATION IA compafty Ilmlt•d by guarants•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 JUNE 2024 Accountlng pollcl•s {eontlnu•d) 2.8 Flnan¢4al Instrum•nts l¢ontlnu•d) there r3 a dec¥ease in Ihe impaimwt loss arising frc¥n an event cK¢urring after the impaiment was recognisad, thg impaim*nl is re*rsed. The reversal is such that the current carrying amount not exceed what thtr carrying amounl Mould have had the impaimient not provlously b88n recojnised. The impairnent rev8rsg1 L8 reLwni8ed in profit or hxs. D•r•eognltl¢)n of fin•n¢l•l ts••ts and ftnanclal Ilabllltlo• Financral assets we deracogrwd whw (al ts)ntr￿1 lights to th& Cash flows from Ihe assot expiro or are s&tlled, or Ibl 5ub3tsnbally all the risks and r¢w8rd$ of the ownership of tho asset are Iransferred to anolher party or Icl desm& having r8tsine11 $1)m8 significant risks and reward8 of ¢Y•vnership, control of Ihe assel has b89n transferred to another party who has the practical at4'11ty to Un￿aterallY sell the asset to an unrelated third party wrthoul imFM)sin9 ad11ib.onal restnctions. Financial Ikgbililies are dwecognisad vthen th• ligbrfity i¥ exlingui8h*J, that 1$ contractual obllgalion is discharg8d. cancell8d or gxpires. Off8•ttlng of fln•n¢lal a•••ts •nd financlal IlabNld Financial assets and are offset and the net amount roported kn the balènc8 sheet whan there is an enknceable right to set off the recognised amounts and thero 1$ an intention to sottla on a nat tra￿$ LY lo thè asset and settle th8 1kqts.hty $inwltaneous 2.• Fund accounllng General funds afe unrestricted fijnds whKh are availablg for use al the discretion ol thè tNsteos in lurtherance ol the general ob￿¢￿ve$ of the charity and which have not bo&n designated lor other PUTFoses. Irwgstrnent gain$ and k>$26s are alocal￿ to th• apwokThte fijnd. Included wlthin unigstrthd l￿d$. 18 a capital contrrbubon tund. The fvnd represents th8 doem¢d contributKJn on th& inteiest fr8e k)an p¥oV￿ed to thg charity. Th& notional interest is unwound gVOry year, within other expenditure of the Statemant of fnancial actiWt￿s. The notional interest expense, is then transferred Irom the Ca￿￿1 ¢¢￿tribu110n fund ￿10 the general funds. In order to reduce the capstsl contr￿Ul10n lund balan¢e up to the dats of repaymant. Tho 18ir value fund for the movgmgnts ol the investment propErties fair value mov0￿nts are induded %trithin the unrostricted fvrtds. Page 18 KHOO TECK PUAT UK FOUNDATION IA company Ilmlted by guarant••l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 JUNE 2024 Crltlcal a¢¢¢untlng •stlmatss and areu of Judgm•nt Estimates and iudgments are continualty evaluat8(1 and arts based on historical experienee and othgr factors, indudiNJ eXp￿￿tiOnS ol hjlure events ihat aro beI￿Ve￿ lo ba Teasonable under the ¢lr¢umstances. Critical accounting asbmatgs an(1 assumptions: The tharity makes eslirnates a￿1 OSSLKnpti¢yo oxKwnirKJ tho fubjrt. The resulting awunting osllmats8 and assumptions will. by d&finrf]￿. s¢ldom eoual the related aclual results. Thg 9s1imat88 and assumptions Ihat havo è svJnthc8nt risk of caU￿ng a material adju$lm$nl to th8 carrying amounts of assets and Ioabilitses within the next finan(¥al are bdow. IrN•$tm•nt iyop•rty valu•tlo Irwe3tment pro[w￿S in th8 UJ￿0n1 havo bew valwl by trust889 basad on an oF4n market value for existing usa basis. Thi$ uses market ￿nI81 values caw'talised at a market rgté but there 15 an Ingvitablg oljud9ement invofved in Ihal each prcygrty is un￿u8 an¢J value can only b8 ultimately bo rellobly testetj in the martet itsell. Inv••tm•nt In¢om• Unr•strlct•d fund$ 2024 Total fundj 2024 Tothl nds 2023 Rerrtal in¢>Jm8 from Invesknenl properb'ej Interest inojffle 5,282,550 459.192 5.282,$50 459,192 4.779.246 384.656 5,741.742 5.741.742 S,163,￿2 Olh•r Inmmlng r••ourc Unmtrl¢t fvndB 2024 Total funds 2024 Total funds 2023 Other incorning res￿JrceS 175.000 Pwje 19 KHOO TECK PUAT UK FOUNDATION {A Mmpany limited by guaranta•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 JUNE 2024 Investm•nt manwm•nt Costs Totsl funds 2024 Totsl frjnds 2023 fvnds 2024 761,042 38,194 761,042 38,194 814,766 97,143 Invoslmgnt manag•ment exp6rKlikne 799.236 799,236 711,909 An*￿1• ofgrnnts Grants to Instltutlon• 2024 Tot•1 funds 2024 Total fvnds 2023 Irffjlllullonal grants 200,000 1.905,000 Total 2023 1.￿5.￿)0 1,905,000 The charity has made the folbWl￿ malerigl grants to in5tituts￿￿ during th¢ >wr'. 2024 2023 Narn• of Institutlon Startlght ChilJren'$ Four•Jation 200,000 1,905,000 21x1,000 I,￿5,000 Page 20 KHOO TECK PUAT UK FOUNDATION (A company limlt¢d by guarantee) NOTES TO THE FINANCIAL sTATEME1￿s FOR THE YEAR ENDED 29 JUNE 2024 ol exp•ndllur• on CharItab￿ athlll Summary by fund typ• Unmtrlcted funds 2024 Totsl 2024 Total 2023 Auditorfs rgmuneration Institutional grants Premises gxwn$es Bank charges 9.1￿) 9.100 200.000 230.090 17,6CQ 1,905,000 3,342 43 230,090 439.252 439,252 1,925,985 Oth•r •xp•ndltur• Total funds 2024 Tot81 fvn¢J$ 2023 nds 2024 othof int•resl payat)IB I,￿1.565 1,901.565 1,7UY),113 Page 21 KHOO TECK PUAT UK FOUNDATION IA company Ilmited by guarants•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 JUNE 2024 10. Analy•i• ol •xp•nthturn by acllvlll•s Grant fvnding of •¢tlviti 2024 Supwt Total fvnds 2024 Total fijnds 2023 2024 Auditoes r8mun¥ratr)n Institutional grants Premises expenses Bank tharg8S 9,1 9,100 200.000 230.090 17,600 1,gJ5,000 3,342 43 239.2S2 439.252 1,925,985 T¢)lal 2023 1,￿5.(￿0 20,985 1,925,985 11. Audltorf• r•mun•ratlon 2024 2023 Fees payable to the tharW$ audlb)r for tM a￿lit ofth8 tharty$ annual 10,750 15,COJ Fees payat4e to the tharty8 8uditor in iespect ol.. JI non.audit s•Thlc8s rnt IrKluded 8t#)ve 3.250 2.800 12. Tru•ts•$' r•mun•r•tlon and •xp•n••s ring the ￿r. rK• trustees r¢¢wv•J any r8muneratKffl or othor bgn&fft$12023- £NIII. t)urlng the year erthd 29 Jun& 2024. ￿ tru8teo expenses have been Ir￿u￿￿12023. £NII}. Page 22 KHOO TECK PUAT UK FOUNDATION {A company limited by guarant••l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 JUNE 2024 13. Inveskn•nt prop•rty Freehold Investmont pro￿rtY Valuatlon At 30 Junè 2023 Revaluations 95,100,000 12,522,803 At 29 June 2024 107.622,803 The 2024 valualiw$ wgrg made by th• truste88 bAsed on an open rna￿0t valuo for gxL8ling U8e basls. 14. D•btor• 2024 2023 Du• after mor• th•n on• y•*r Olhor dobto 1,861.235 1,703.800 1.861335 1,703,800 Du• wlthln on• y••r Tfadg dgbtors PrgpayYMnts and inc£¥ 367.17S 937.885 486,924 1,011,427 3,166.295 3.202.151 Page 23 KHOO TECK PUAT UK FOUNDATION IA ¢ompany limlted by guarantoel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 JUNE 2024 1& Credltors: amounts falllng wlthin one year 2024 2023 Trado cr8dit Other taxab.on and 8(IwI ￿Ul￿ty Othor ¢yedito Accruals and deferre(l income 410,703 354,259 1.254.343 1.269A04 577,337 378,267 1.229.988 1,085.128 3,294,709 3.270,720 2024 2023 Deferred irttvne at baginntng of fin8n¢Kg1 year Resources delerrnd during the ￿Or Amounts i•lea88d frcffi Fffe¥￿S pwk)ds 1.054.738 1.047.225 1.103,929 1,054.738 11.054.738) 11,047,225) 1,103.929 1,054,738 IncLvne ha8 been deferred lor r•nt r8c*wed ftythe up)Jmlng >v8r. Cr•dltorn: amounts f•lllng du• •ft•r mor• than ¢)n• y•ar 2024 2023 othar loans Tenant do[￿lts 32.030.558 40,128,993 1161,235 2,108,800 33,891.793 42,237,793 Pa9e 24 KHOO TECK PUAT UK FOUNDAnoN IA company limltod by guarant••l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 JUNE 2024 17. Statem¢nt of fund¥ statement of funds - curr•ort y•ar Balance at 30 Jun• 2023 Balan¢9 at 29 Jun8 2024 Tran8f•rn Inlout G•ln {Lo￿¢S) In¢om• Expondltur• Unr•8trlct•d lund$ General Fund8- all lur*Js Capitsl conblbution 63.339.753 4741.742 13.1411,0S31 1.901,565 12.522.803 JO.365,810 4871.007 11.901,565) 3.969,442 69210,760 4741,742 13,140.0531 12,522,003 84,335.252 St•t•m•nt of fvnd•- prtor y••r Balanc4 81 29 June 2023 8alance at 1 Juty 2022 Transfers inloLrt GAin {Lo8Sts81 Unre•tr5ct•d funds General Funds- all lunds Capital contribuoon 83.739.310 s.338.￿2 14,428,CK171 1.790.113 {23.100.5651 63,339,753 7.661.120 I1.7￿,113} 5.871.W7 91,400,430 5,338.WJ2 {4.428,0071 123.100,5651 69,210,760 The transfer betW•pen fundy rep¥esents th& transfor •4ual to the un*iThJiThJ of thg dSso)unt on the loan from The Trustees of the Estate of Tan Sri Khoo T8¢k Pual. Page 25 KHOO TECK PUAT UK FOUNOATION (A company limit•d by gUa￿ntee) NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 JUNE 2024 18. Analysls of net assets between fvnds Analysos of n•t •*￿ts b•¢We￿ funds . current wlod Unrostrkt funds 2024 Total fund6 2024 Inv8stment propgty Debtors dug after mor• th8n on8 ya Curront a$8ets Creditors dug wthln crt Crgditors due in Ihan Jtar 107.622,803 107,622,803 1,861.235 1,861,235 12.037.716 12.037.716 13.294,7091 13,294.7091 133.891,7931 133,891,793) Total 84,335.252 84335,252 Analy•l• ot n•t a•Mts b•tw••n fvnd•. prfor p•rlod Unrnstrfdgd funds 2023 Total funds 2023 Invoslm&nl proFé Dgbtors dL* aftor more than one Current assets Creditors wthin ¢)ne year Creditors duts in more than on8 5 95.100,c￿ 95,100.000 1.703,PAI 1,703,800 17.91S.473 17,915,473 13.270,7201 13,270,720) 142.237,7931 142,237,793) Tot•1 69,210,760 69.210.760 Page 26 KHOO TECK PUAT UK FOUNDATION IA ¢0M￿nY limitod by guafant•e) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 JUNE 2024 19. Reconciliation of net mov•mert In funds to net cash flow from ¢)p•rating •¢tivitie• 2024 2023 Net incomel{expenditurn) kn tho (as par statemant of financ481 activibesl 15.124.492 122.189,670 Adlustments for. Interest paid Interest in¢omo Doc¥e8s0 In dfrbtcrfs 10K￿a$?￿ncr$a$e In uedltws Incroase in inc￿8 Net fair va1ue1gains￿8oj rwnlsod in SOFA 1.901.565 1.790.113 1459,1921 1384.6561 35.856 422.045 1272.7871 1,281,937 49,191 7,513 112.$22.8031 23.100.585 N•t ￿*h provld•d by op•r•tlng adMtI 3,856,342 4.027.847 Analys1• of cash and ¢a•h •qul¥al•nts 2024 2023 Cash tn hand Notlce dep)sits (less than 3 mty)th$l 1,552.251 1.745.952 ,180.405 14,671,170 Tot•1 ca•h and cash •qulval•nt• 10,732,656 16.417.122 21. A￿aty•￿• of ¢h•ng•s In n•t dobl Oth•r non cash At 29 Jun• ¢hanges 2024 At 30 Jun• 2023 Cash flows Cash al bank and in h￿d Dobl due after 1 Jpar 16,417,122 15,684,466) 10,T32,656 {40.128.993) 10.000.000 {1.901.5651 132,030,558) 123,711.8711 431S.$34 I1,901,￿5) {21,297,9021 Page 27 KHOO TECK PUAT UK FOUNDATION IA ¢ompany limited by guarantee NOTES TO THE FINANCIAL STATEMEHrs FOR THE YEAR ENDEO 29 JUNE 2024 22. Grant comm5tm•nts 0gtail$ of grarts madè and P8KI d￿Ing the ￿r can in the Tnjslee's Report. 23. Op•ratlng l•a¥• ¢omrnltm•nts At 29 JLtne 2024 the charity had cornmitm￿ts to make fU￿re rninirnum l•as¢ pawrents under non canc8llable operab.ng 18è888 88 foll(rws.' 2024 2023 Not later Ihan l yeaf Later than 1 year and not J* than 5 Later than 5 years 372.449 372.449 1.489.795 1,489,795 38.941.814 39,315,283 40.004.058 41,177,527 R•latsd party tr•n••cllon• A$ at the balanr* $heel date. Khoo Teck Puat UK FlyJndati￿ owed £32.030,55812023.' £40,128,993) tg thg Estate of Khoo Teck Puat. The loan is frjr fv8 yBars, intswsl is tharged at 4.75% and on the investment property held by tho Foundatw. Durfng the year tho loundal¥M r8ceN8d renlal income 01 £148,$0012023.. £110,800) trom Royal Gard¢n Holel ￿mIted. a company under the comrr#)n conlml ol th• Trustees. As at the balance Sheel dale. Khoo Teck Puat UK Four*JatiJn was £44.55012023.. £Nill by Royal Garden Hotol Limited. 25. Controlllng party The ultimat8 po￿nt undertakir•J is Khty) T￿k Puat Foundation, a ¢ompany limited by guarantee and In￿rporated in Singapore. The regislerod offi¢8 address is 21 Mount ￿v£abeth. #02-00 York Hotel, Singapore 228516. Consotidatod financial slat8ments prepared. Pa9e 28