COMPANY REGISTRATION NUMBER: 08073928 CHARITY REGISTRATION NUMBER: 1147248
THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS
31 DECEMBER 2025
COHEN ARNOLD
Chartered Accountants & statutory auditor New Burlington House 1075 Finchley Road London NW11 0PU
THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2025
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent auditor's report to the members | 5 |
| Statement of financial activities (including income and expenditure | |
| account) | 10 |
| Statement of financial position | 11 |
| Statement of cash flows | 12 |
| Notes to the financial statements | 13 |
THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)
YEAR ENDED 31 DECEMBER 2025
The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 December 2025.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name The Kenneth & Susan Green Charitable Foundation Charity registration number 1147248 Company registration number 08073928 Principal office and registered Hill House office Monument Hill Weybridge Surrey KT13 8RX The Trustees Mr K C Green Mrs S E Green Mr P J Stokes Mrs S F Scragg Mrs C S Garlick Auditor Cohen Arnold Chartered Accountants & statutory auditor New Burlington House 1075 Finchley Road London NW11 0PU Bankers Coutts & Co. 440 Strand LONDON WC2R 0QS
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THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)
YEAR ENDED 31 DECEMBER 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is constituted as a company limited by guarantee and as such, its governing documents are its Memorandum and Articles of Association.
Appointment, training, and recruitment of trustees
The trustees have no beneficial interest in the company as it is a company limited by guarantee and are chosen by agreement of trustees at an annual meeting. The choice is based on applicants' business and community knowledge.
New trustees are subject to trustee induction training which includes an understanding of the content of the Memorandum and Articles of Association, their legal obligations under Charity Act and Company Law, the organisational structure of charity and the recent financial performance of the charity. Trustees are encouraged to attend appropriate external training events which enhance their knowledge and skill thereby improving the performance of their role.
Risk management
The trustees have assessed the major risks to which the charity is exposed, in particular those to the operations and finances of the charity, and are satisfied that systems are in place to mitigate its exposure to those risks.
Related Party Transactions
None of our trustees receive remuneration or other benefit from their work with the charity. Any connection between a trustee of the charity with a supplier company must be disclosed to the full board of trustees in the same way as any other contractual relationship with a related party. In the current year no such related party transactions were reported.
None of the trustees have any beneficial interest in the charity.
OBJECTIVES AND ACTIVITIES
In line with the charitable objects of the Memorandum of Association, it is the policy of the trustees to make grants to and for:
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(1) The relief of poverty;
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(2) The advancement of education;
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(3) The advancement of health and the saving of lives;
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(4) The advancement of the arts, culture, heritage and science;
(5) The furtherance of such other objects that are exclusively charitable under the law of England and Wales as the trustees may from time to time determine.
The trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the charity's aims and objectives and in planning future activities.
Grant Making Policy
Grants are made to charitable institutions and organisations in accordance with the objects of the charity.
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THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (continued)
YEAR ENDED 31 DECEMBER 2025
ACHIEVEMENTS AND PERFORMANCE
The charity engaged in philanthropic activities in support of arts, cultural, educational and other charitable institutions and aggregate donations were paid in the year to 31 December 2025 of £978,207 (2024: £644,868). No change in activities is envisaged in the immediate future.
The benefits that these charities provide include:
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Advancement of the arts, culture, heritage and science;
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Advancement of education, health and saving lives;
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Advancement of religion;
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Relief of poverty.
FINANCIAL REVIEW
The financial results of the charity for the year ended 31 December 2025 are fully reflected in the attached financial statements together with the notes thereon.
Financial Position
The financial position of the charity is satisfactory. The charity's Statement of Financial Activities shows total reserves of £34,477,590 (2024: £21,818,591).
Reserves policy
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which the trustees think appropriate after considering the future commitments of the charity and the likely governance costs of the charity for the next year.
PLANS FOR FUTURE PERIODS
The trustees plan to continue to make distributions in accordance with their grant making policy and to ensure that the ability to generate sufficient income is maintained to achieve that end.
TRUSTEES' RESPONSIBILITIES STATEMENT
The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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THE KENNETH & SUSAN GREEN CHARJTABLE FOUNDATION COMPANY LIMtTED BY GUAIL4NfEE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECfOR'S REPORT) YEAR ENDED 31 DECEMBER 2025 The treeS are ffstKln8ible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable Ut7cY at any time the financial position of the charity and enable them to ensure that the financial sthternenls mplY with the Companies Act 2006. They are also responsible for safeguarding th¢ assets of the charity and hence for taking reasonable st¢ps for the prevention and detection of fraud and other irregularities. AUDITOR Each of the persons who is a trustee at the date of approval of this report confimis that.. 50 f2r as they are aw8re, there is no relevant audit infor]n&tion of which the charity's auditor is unaware. and they have taken all steps that they ought to hav¢ taken as a trustee to make themselves aware of ahy relevant audit inforniation and to estsblish that the charity's auditor is aware of that inforni&lion. The auditor is deemed to have been re-appointed in accordance with section 487 of the Ci>mp8nies Act 2006. SMALL COMPANY PROVISIONS This report h&$ been prepared in accordance with the provisions applicable to companies entitled io the small cornpanies exemptiotL The tn]stees' annual port was approved on 05 May 2026 and signed on behalf of the b(wd of tru51ees by.. rKCGreen Trustee
THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION
YEAR ENDED 31 DECEMBER 2025
OPINION
We have audited the financial statements of The Kenneth & Susan Green Charitable Foundation (the 'charity') for the year ended 31 December 2025 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, 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 FRS 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:
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give a true and fair view of the state of the charity's affairs as at 31 December 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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have been prepared in accordance with the requirements of the Companies Act 2006.
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 FRC’s 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
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
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THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION (continued)
YEAR ENDED 31 DECEMBER 2025
OTHER INFORMATION
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. 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.
OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the trustees' report has been prepared in accordance with applicable legal requirements.
MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.
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THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION (continued)
YEAR ENDED 31 DECEMBER 2025
RESPONSIBILITIES OF TRUSTEES
As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) 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 the trustees 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.
AUDITOR'S 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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We obtained an understanding of the legal and regulatory frameworks that are applicable to the company through discussion with the directors and senior management and identified which were most significant with respect to the financial statements. We identified financial reporting legislation (including related companies legislation), charities legislation and taxation legislation as being most significant to these financial statements. We communicated these identified frameworks throughout our audit team and remained alert to any indications of non-compliance throughout the audit. We ensured that the engagement team had sufficient competence and capability to identify or recognise non-compliance with laws and regulations.
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We discussed with the directors and senior management the policies and procedures regarding compliance with these legal and regulatory frameworks.
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We assessed the susceptibility of the company's financial statements to material misstatement due to non-compliance of legal and regulatory frameworks, including how fraud might occur, by enquiry with the directors and senior management during the planning and finalisation phases of our audit and using proprietary disclosure checklists. This was determined to be low.
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Based on this understanding we designed our audit procedures to identify non-compliance with the identified legal and regulatory framework, which were part of our procedures on the related financial statement items. Our procedures included reviewing the company's internal controls policies and procedures, reviewing the minutes of board meetings and correspondence with regulatory bodies including HMRC, testing transactions outside the normal course of the business and journal entries, and discussions with the directors and senior management.
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THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION
COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION (continued)
YEAR ENDED 31 DECEMBER 2025
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
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Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.
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Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
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THE KENNETH & SUSAN GREEN CEL4RUABLE FOUM)ATION COMPANY LJMtTED BY GUARANTEE INDEPEIYDENT AUDITOR'S REPORT TO THE MEMBERS OF THE KENNrfH & SUSAN GREEN CHARITABLE FOiiNDATION YEAR ENDED 31 DECEMBER 2025 Cohen Arnold is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006. USE OF OUR REPORT This report is made solely to the charity's members, &s a body, in a¢cordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we rnight stat¢ to Éhe charity's members those matters we are required to stat¢ to them in an auditovs report and for no other pUOSe. To th¢ fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the Charity and the charity's Members as a body. for our audit work, for this Teport, or for the opinions we have fornied. Dov Ha15 CA (Senior Ststutory Auditor) For and on b¢half of Cohen Arnold Chartered Accountants & stslutory auditor New Burlington House 1075 Finchley Road London NWII OPU 5 May 2026
THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 DECEMBER 2025
| 2025 | 2025 | 2024 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 11,894,969 | 11,894,969 | 5,460,882 |
| Investment income | 6 | 535,719 | 535,719 | 356,268 |
| ---------------------------------------------------- | ---------------------------------------------------- | ----------------------------------------------- | ||
| Total income | 12,430,688 | 12,430,688 | 5,817,150 | |
| ==================================================== | ==================================================== | =============================================== | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Investment management costs | 7 | (169,290) | (169,290) | (147,239) |
| Expenditure on charitable activities | 8,9 | (980,712) | (980,712) | (647,373) |
| Other expenditure | 12 | (95,759) | (95,759) | (17,440) |
| ---------------------------------------------------- | ---------------------------------------------------- | ----------------------------------------------- | ||
| Total expenditure | (1,245,761) | (1,245,761) | (812,052) | |
| ==================================================== | ==================================================== | =============================================== | ||
| Net gains on investments | 13 | 1,474,072 | 1,474,072 | 1,490,641 |
| ---------------------------------------------------- | ---------------------------------------------------- | ----------------------------------------------- | ||
| Net income and net movement in funds | 12,658,999 | 12,658,999 | 6,495,739 | |
| ==================================================== | ==================================================== | =============================================== | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 21,818,591 | 21,818,591 | 15,322,852 | |
| ---------------------------------------------------- | ---------------------------------------------------- | ---------------------------------------------------- | ||
| Total funds carried forward | 34,477,590 | 34,477,590 | 21,818,591 | |
| ==================================================== | ==================================================== | ==================================================== |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 13 to 19 form part of these financial statements.
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THE KENNETH & SUSAIY GREEN CHARrrABLE FOUM)ATION STATEM OF FINANCIAL POSITION 31 DECEMBER 2025 2025 2024 Note Fixed assets Investments 16 32247,980 21,038,685 Current assets Debtors Cash al bank and in hand 17 1,061,966 1,169,444 2,231,410 139.772 641,934 781.706 Creditors: amounts falllng due within one year Net current assets 18 (1,800) {1.800) 2,229,610 34,477,590 779.906 21.818,591 Totsl assets less eurrent Il&bllltfies Funds of the charlty Unrestricted fund5 34,477,590 34,477,590 21,818,591 21.818.591 Total charity funds 19 These financial statements have been pr¢paT¢d in accordance with the provisions appli¢abl¢ to ¢ompanies subject to the small companies, regime. These financial stat¢m¢nts were approved by the board of trustees and authorised for issu¢ on 5 May 2026, and ar¢ signed on behalf of th¢ board by.. Mr K C Green Trustee The note$ on pages 13 to 19 form part ofthese IlnAn¢i*l statements. li
THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION
COMPANY LIMITED BY GUARANTEE
STATEMENT OF CASH FLOWS
YEAR ENDED 31 DECEMBER 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income | 12,658,999 | 6,495,739 |
| Adjustments for: | ||
| Net gains on investments | (1,474,072) | (1,490,641) |
| Other interest receivable and similar income | (535,719) | (356,268) |
| Interest payable and similar charges | 490 | 551 |
| Non - cash donated assets | (11,394,969) | (4,960,882) |
| Changes in: | ||
| Trade and other debtors | (922,194) | 181,425 |
|
|
|
| Cash generated from operations | (1,667,465) | (130,076) |
| Interest paid | (490) | (551) |
| Interest received | 535,719 | 356,268 |
|
|
|
| Net cash (used in)/from operating activities | (1,132,236) | 225,641 |
|
|
|
| Cash flows from investing activities | ||
| Purchases of other investments | (7,194,984) | (9,712,546) |
| Proceeds from sale of other investments | 8,854,730 | 9,590,515 |
|
|
|
| Net cash from/(used in) investing activities | 1,659,746 | (122,031) |
|
|
|
| Net increase in cash and cash equivalents | 527,510 | 103,610 |
| Cash and cash equivalents at beginning of year | 641,934 | 538,324 |
|
|
|
| Cash and cash equivalents at end of year | 1,169,444 |
641,934 |
The notes on pages 13 to 19 form part of these financial statements.
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THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2025
1. GENERAL INFORMATION
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Hill House, Monument Hill, Weybridge, Surrey, KT13 8RX.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through income and expenditure.
The charity meets the definition of a public benefit entity under FRS 102. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of financial statements in conformity with FRS 102 requires the use of certain accounting estimates. It also requires management to exercise its judgement in the process of applying the company's accounting policies. There are no areas involving a high degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised in the statement of financial activities when received.
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investment income represents dividends and interest on funds held on deposit. These are included when receivable and the amount can be measured reliably by the charity.
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THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2025
3. ACCOUNTING POLICIES (continued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. The following specific policies are applied to particular categories of expenditure:
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charitable donations are recognised in the statement of financial activities when paid.
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investment management costs represent portfolio management fees.
Expenditure is classified under headings of the statement of financial activities to which it relates.
Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
Investments
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. LIMITED BY GUARANTEE
The charity is a company limited by guarantee and has five members whose guarantee is limited to £10 per member.
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THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2025
5. DONATIONS AND LEGACIES
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations | 500,000 | 500,000 | 500,000 | 500,000 |
| Endowment - Investments | 11,394,969 | 11,394,969 | 4,960,882 | 4,960,882 |
| ---------------------------------------------------- | ---------------------------------------------------- | ----------------------------------------------- | ----------------------------------------------- | |
| 11,894,969 | 11,894,969 | 5,460,882 | 5,460,882 | |
| ==================================================== | ==================================================== | =============================================== | =============================================== |
Donations received in the year reflect £500,000 (2024: £500,000) received from Kenneth Green Associates Limited, a company with directors in common with the trustees of the charity.
The endowment of the investments was received from Mr K C Green and Mrs S E Green, trustees of the charity. The market value of the investments at the date of transfer to the charity aggregated £11,394,969.
6. INVESTMENT INCOME
| INVESTMENT INCOME | ||||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Bank interest receivable | 8,222 | 8,222 | 5,034 | 5,034 |
| Other investment income | 527,497 | 527,497 | 351,234 | 351,234 |
| ------------------------------------- | ------------------------------------- | ------------------------------------- | ------------------------------------- | |
| 535,719 | 535,719 | 356,268 | 356,268 | |
| ===================================== | ===================================== | ===================================== | ===================================== |
7. INVESTMENT MANAGEMENT COSTS
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Portfolio management | 169,290 ===================================== |
169,290 ===================================== |
147,239 ===================================== |
147,239 ===================================== |
8. EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Charitable donations | 978,207 | 978,207 | 644,868 | 644,868 |
| Support costs | 2,505 | 2,505 | 2,505 | 2,505 |
| ------------------------------------- | ------------------------------------- | ------------------------------------- | ------------------------------------- | |
| 980,712 | 980,712 | 647,373 | 647,373 | |
| ===================================== | ===================================== | ===================================== | ===================================== |
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THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2025
9. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE
| Grant | ||||
|---|---|---|---|---|
| funding of | Total funds | Total fund | ||
| activities | Support costs | 2025 | 2024 | |
| £ | £ | £ | £ | |
| Charitable donations | 978,207 | – |
978,207 | 644,868 |
| Governance costs | – | 2,505 |
2,505 | 2,505 |
| ------------------------------------- | -------------------------- | ------------------------------------- | ------------------------------------- | |
| 978,207 | 2,505 |
980,712 | 647,373 | |
| ===================================== | ========================== | ===================================== | ===================================== |
10. ANALYSIS OF SUPPORT COSTS
| Legal and | |||||
|---|---|---|---|---|---|
| Bank charges | Accountancy | professional | |||
| and fees | fees | fees | Total 2025 | Total 2024 | |
| £ | £ | £ | £ | £ | |
| Finance costs | 551 | – | – | 551 | 551 |
| Governance costs | – | 1,860 | 155 | 2,015 | 1,954 |
| ---------------- | -------------------------- | ---------------- | -------------------------- | -------------------------- | |
| 551 | 1,860 | 155 | 2,566 | 2,505 | |
| ================ | ========================== | ================ | ========================== | ========================== |
11. ANALYSIS OF GRANTS
| Grants to institutions Royal Opera House Royal Ballet School Prostate Cancer UK Royal National Lifeboat Institution University of Bath The Pepper Foundation Other grants less than £30,000; individually and in aggregate Total grants |
2025 £ 300,000 300,000 50,000 50,000 35,000 30,000 213,207 |
|---|---|
| 978,207 |
Total grants
The grants to institutions to support the charity's objectives are as follows:
| Advancement of the arts, culture, heritage and science Advancement of education, health and saving lives Advancement for the relief of poverty Total Grants |
2025 £ 650,000 324,207 4,000 |
|---|---|
| 978,207 |
During the year, the charity made a donation of £25,000 to the Cosmetic, Toiletry & Perfumery Foundation, a charity where a trustee of this charity is also a trustee.
- 16 -
THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2025
12. OTHER EXPENDITURE
| OTHER EXPENDITURE | ||||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Foreign exchange losses | 95,759 | 95,759 | 17,440 | 17,440 |
| =============================== | =============================== | =============================== | =============================== | |
| NET GAINS ON INVESTMENTS | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Gain on revaluation of investments | 1,590,382 | 1,590,382 | 744,882 | 744,882 |
| Loss / gain on disposal of investments | (116,310) | (116,310) |
745,759 | 745,759 |
| ----------------------------------------------- | ----------------------------------------------- | ----------------------------------------------- | ----------------------------------------------- | |
| 1,474,072 | 1,474,072 | 1,490,641 | 1,490,641 | |
| =============================================== | =============================================== | =============================================== | =============================================== | |
| AUDITORS REMUNERATION | ||||
| 2025 | 2024 | |||
| £ | £ | |||
| Fees payable for the audit of the financial statements | 1,800 ========================== |
1,800 ========================== |
13. NET GAINS ON INVESTMENTS
14. AUDITORS REMUNERATION
Fees payable for the audit of the financial statements
15. TRUSTEE REMUNERATION AND EXPENSES
No trustee received any remuneration during the period. The charity did not meet any individual expenses incurred by the trustees for the services provided to the charity.
16. INVESTMENTS
| INVESTMENTS | |
|---|---|
| Listed | |
| investments | |
| £ | |
| Valuation | |
| At 1 January 2025 | 21,038,685 |
| Additions | 18,589,953 |
| Disposals | (8,971,040) |
| Fair value movements | 1,590,382 |
| ---------------------------------------------------- | |
| At 31 December 2025 | 32,247,980 |
| ==================================================== | |
| Carrying amount | |
| At 31 December 2025 | 32,247,980 |
| ==================================================== | |
| At 31 December 2024 | 21,038,685 |
| ==================================================== |
All investments shown above are held at valuation.
Investments are valued by the charity's portfolio's managers on the basis of mid-market prices from the appropriate Stock Exchange, market makers or from the relevant fund manager. Where fund managers publish a single price, the valuation is on the basis of the published price.
The historical cost of investments was £28,715,801 (2024: £18,998,267).
- 17 -
THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2025
17. DEBTORS
| 17. | DEBTORS | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Other debtors | 1,061,966 | 139,772 | |
| =============================================== | ===================================== | ||
| 18. | CREDITORS: amounts falling due within one year | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Accruals and deferred income | 1,800 ========================== |
1,800 ========================== |
19. ANALYSIS OF CHARITABLE FUNDS
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 January | Gains and | 31 December | |||
| 2025 | Income | Expenditure | losses | 2025 |
|
| £ | £ | £ | £ | £ | |
| General funds | 21,818,591 | 12,430,687 | (1,245,760) | 1,474,072 | 34,477,590 |
| ==================================================== | ==================================================== | =============================================== | =============================================== | ==================================================== | |
| At | At | ||||
| 1 January | Gains and | 31 December |
|||
| 2024 | Income | Expenditure | losses | 2024 |
|
| £ | £ | £ | £ | £ | |
| General funds | 15,322,852 | 5,817,150 | (812,052) | 1,490,641 | 21,818,591 |
| ==================================================== | =============================================== | ===================================== | =============================================== | ==================================================== |
20. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2025 | |
| £ | £ | |
| Investments | 32,247,980 | 32,247,980 |
| Current assets | 2,231,410 | 2,231,410 |
| Creditors less than 1 year | (1,800) | (1,800) |
| ---------------------------------------------------- | ---------------------------------------------------- | |
| Net assets | 34,477,590 | 34,477,590 |
| ==================================================== | ==================================================== | |
| Unrestricted | Total Funds | |
| Funds | 2024 | |
| £ | £ | |
| Investments | 21,038,685 | 21,038,685 |
| Current assets | 781,706 | 781,706 |
| Creditors less than 1 year | (1,800) | (1,800) |
| ---------------------------------------------------- | ---------------------------------------------------- | |
| Net assets | 21,818,591 | 21,818,591 |
| ==================================================== | ==================================================== |
- 18 -
THE KENNETH & SUSAN GREEN CHARITABLE FOUNDATION
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2025
21. FINANCIAL INSTRUMENTS
The carrying amount for each category of financial instrument is as follows:
| 2025 | 2024 | |||
|---|---|---|---|---|
| £ | £ | |||
| Financial assets measured at fair value through income and expenditure | ||||
| Investments | 32,247,980 | 21,038,685 | ||
| ==================================================== | ==================================================== | |||
| Financial assets that are debt instruments measured at amortised | cost | |||
| Current assets | 2,231,410 | 781,706 | ||
| =============================================== | =============================================== | |||
| Financial liabilities measured at amortised cost | ||||
| Current liabilities | 1,800 | 1,800 | ||
| ========================== | ========================== | |||
| 22. | ANALYSIS OF CHANGES IN NET DEBT | |||
| At | At | |||
| 1 Jan | 31 December | |||
| 2025 | Cash flows | 2025 | ||
| £ | £ | £ | ||
| Cash at bank and in hand | 641,934 | 527,510 | 1,169,444 | |
| ===================================== | ===================================== | =============================================== |
- 19 -