Charity number: 1163838 KROPIFKO CHARITABLE TRUST UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
KROPIFKO CHARITABLE TRUST CONTENTS Page Reference and Administrative Details of the Charity. its Trustees and Advisers Trustees. Report Independent Examiner's Report statement of Financial Activities Balanco Sheot Notes to the Financial Statements 8-16
KROPIFKO CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED S APRIL 2025 Trustees Adam Kaye Samuel Kaye Samantha Sanson Charity reglstered number 1163838 Prlnclpal offlce 1A Downshire Hill London NW3 1NR Independent Examiner Edward Passmore FCA BKL Audit LLP 35 Ballards Lane London N3 1XW Bankers Barclays Bank PLC 1 Churchill Pla London E14 5HP Page 1
KROPIFKO CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED S APRIL 2025 The Trustees present their annual report together with the financial statements of the charity for the period from 6 April 2024 to 5 April 202S. Objectives and activities a. Polieies and objectives The objectives of the charity are 11 The prevention or rellef of poverty among children and young people", 21 To advance and promote the education of children and young people, 31 The advancement of health or the saving of lives of children and young people, 41 The relief of children and young people who are in need. In setting objeetives and planning for activities, the Trustees have given due consideration to general guidanee published by the Charity Commission relating to public benefit, including the guidance 'Public benefit". running charity IP821'. b. Activities undertaken to achieve objeetives The charity owns an investment propety purchased in 2016. This ensures that the charity has a steady source of ineome with which lo achieve ils objectives. Achievements and performance a. Key performance indicators Financial perform8nee is measured by assessing the level of donations received and investment income attained. The trustees are satisfied with the levels 8tt8ined during the year. b. Investment policy and perfomianee The trust has invested in a commercial and residenb'al property from which il receives rental income. Performance is measured by ensuring that rental yield is a reasonable rate. Financial review a. Going coneem After making appropriate enquiries, the Trustees have a reasonable expec18tion that the charity has adequate resources to eontinue in operational existence for the foreseeable futu. For this reason, they continue lo adopt the going eoncern basis in preparing thè financial stalemenls. Further details regarding the adoption of the going COnM basis can be found in the accounting policies. b. Reserves policy The trustees aim lo ensure that the charity has reserves to match six months of propety maintenance costs and other overheads. This was largely exceeded at the year end and the trustees are continuing a program of grant making in the next financial year. Page 2
KROPIFKO CHARITABLE TRUST TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED S APRIL 2025 c. Principal risks and uncertainties The trustees have reviewed the principal risks that the charity faces, and are Confident that the charity has plans lo deal with these risks and uncertainties. d. Financial risk management objectives and policies Reserves 8t the year end were £1,076,44512024. £1,222,954) which included £31,341 12024." £32,652) of cash at bank. Donated services received in the year lotalled £10,30012024". £6,700) and investment income lotalled £87,375 12024." £108,6111. The trustees are pleased with this performance. The trustees are pleased lo have been able to make £23,00012024". £25,000) of grants in the year. Structure, govemance and management a. Constitution The charity was set up by trust deed on 29 April 2015 and recognised by the Charity Commission on 5 October 2018. b. Methods of appointment or election of Trustees The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. New trustees are recommended by current trustees lo fill skills gaps within the trustee board. All trustees undergo specialist training in order to fulfil their role. c. Organisational structure and deeision-making policies Trustee meetings are held throughout the year, with decisions being 18ken on the basis of 8 majority vote of the Iruslees. Page 3
KROPIFKO CHARITABLE TRUST TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED S APRIL 2025 Statement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees, Report and the financi81 statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the slate of affairs of the charity and of ils incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to". select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 1021", make judgments and accounting estimates that are reasonable and prudent", stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material departures disclosed and explained in the financial stalemenls., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the charity's transactions and disclose with reasonable accuracy al any lime the financial position of the charity and enable them lo ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. k67ye Adam Kaye Trustee Dale 1811212025 Page 4
KROPIFKO CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2025 Independent Examiner's Report to the Trustees of Kropifko Charitable Trust Ilhe charity'l I report to the charity Trustees on my examination of the accounts of the eharity for the year ended S April 2025. Responsibilities and Basis of Report As the Trustees of the charity you are responsible for the preparation of the accounts in 8ecord8nce with the requirements of the Charities Act 2011 I'the 2011 ACVI. I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent Examiner's Statement I have completed my examination. I confim that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect". accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act,. or the accounts do not accord with those records", or the accounts do not comply with the applicable requirements conMIng the form and conlenl of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other mallers in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the charity's Trustees, 8S 8 k)ody, in accordance with Part 4 of the Charities IAecounts and Reports) Regulations 2008. My work has been undertaken so that I might stale to the charity's Trustees those mallers l am required lo slate to them in an Independent Examinerfs Report and for no other purpose. To the fullest extent permitted by18w, I do not accept or assume responsibility lo anyone other than the charity and the charity's Trustees as a body, for my work or fi)r this report. Edward Passmore FCA BKL Audit LLP 35 Ballards Lane London N3 1XW 1911212025 Page 5
KROPIFKO CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025 Unrestricted funds 2025 Total funds 2025 Total funds 2024 Note Income from: Donations and legacies Investments 10,300 87.375 10,300 87.375 6. 700 108,611 Total income 97,675 97,675 115,311 Expenditure on: Raising funds Charitable activities 13.256 29.343 13,256 29,343 51,230 47,878 Total expenditure 42,599 42,599 99,108 Net income before net losses on investments Nel losses on investments 55,076 {201,5851 55,076 {201,5851 16,203 (37,585) Net movement in funds {146.5091 {146.5091 (21,382) Reconciliation of funds.. Total funds brought forward Nel movement in funds 1.222,954 {146,5091 1.222,954 {146,5091 1,244,336 (21,382) Total funds carrigd forward 1,076,445 1,076,445 1,222,954 The Ststemenl of Financial Activities includes all gains and losses recognised in the year. The notes on pages 8 10 16 form part of these financial slatemenls. Page 6
KROPIFKO CHARITABLE TRUST BALANCE SHEET AS AT 5 APRIL 2025 2025 2024 Note Fixed assets Investment propety 1,300,000 1,501,585 1.300.000 1,501,585 Current assets Debtors Cash al bank and in hand 10 7,942 31.341 43,710 32,652 39,283 76,362 Current liabilities Creditors.. amounts falling due within one year 11 1262.838} f354,993J Net current liabilities {223.5551 (278,631) Total net assets 1,076,445 1,222,954 Charity funds Unrestricted funds 12 1,076,445 1,222,954 Total funds 1,076,445 7,222,954 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. kaye Adam Kaye Chair Dale.. 18/1212025 The notes on pages 8 10 16 form part of these financial slalemenls. Page 7
KROPIFKO CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Accounting policies 1.1 Basis of preparation of financial ststements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities". Slalement of Recommended Practice applicable lo charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 JanLJary 20191, the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. Kropifi(o Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction valLJe unless olhenNise slated in the relevant accounting policy. 1.2 Going concern The charity has minimal fixed costs, with the main source of expenditure being grants made to institutions which can be made at the discretion of the Trustees. Furthermore, the charity had a healthy cash balance and large net assets al the year end. The charity has net current liabilities at 31 March 2025 amounting lo £223,555 and relies on funding from related companies amounting to £259,666 as set out in Note 14. The accounts have therefore been prepared on a going concern basis. 1.3 Income All income is recognised On the charity has entitlement lo the income, it is probable that the income will be received and the amoLJnt of income receivable can be measured reliably. Income lax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the lime of the donation. 1.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure on raising funds includes all expenditure incurred by the charity to raise fLJnds for ils charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on direclly undertaking the activities which further the charity's obieclives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been mel at the year end are noted as a commitment, bul not accrued as expenditure. 1.5 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity., this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. Page 8
KROPIFKO CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Accounting policies Icontinuedl 1.6 Investments Fixed asset investments are a form of financial instrument and are initially recognised al their transaction cost and subsequently measured al fair value al the Balan Sheet dale, unless the value cannot be measured reliably in which case it is measured al cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gainsl{Lossesl on investments, in the Statement of Financial Activities. 1.7 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 1.8 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. 1.9 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balan Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in selllemenl, and the amount of the selllemenl can be eslimaled reliably. Liabilities are recognised al the amount that the charity anlicipales it will pay lo settle the debt or the amount il has reiVed as advanced payments for the goods or services it musl provide. 1.10 Fund accounting General funds are unreslricled funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been sel aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes lo the financial statements. Investment income, gains and losses are allocated to the appropriate fvnd. Page 9
KROPIFKO CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Income from donations and legacies Unrestricted funds 2025 Total funds 2025 Donated ServIS 10,300 10,300 Unrestricted funds 2024 Total funds 2024 Donated servi8 6, 700 6, 700 Investment income Unrestricted funds 2025 Total funds 2025 Rental income Bank interest receivable 87,073 302 87,073 302 87,375 87,375 UnStricted funds 2024 Total funds 2024 Rental income Bank InteSt receivable 108,360 251 108,360 251 108,671 108,611 Page 10
KROPIFKO CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Investment management costs Unrestricted funds 2025 Total funds 2025 Property costs Refurbishment costs Propety management fees 4,337 11,3811 10,300 4,337 11,3811 10.300 13,256 13,256 Unrestricted funds 2024 Total funds 2024 Propety costs Property management fees 44,530 6, 700 44,0 6, 700 51,230 51,230 Analysis of grants Grants to Institutions 2025 Total funds 2025 Advancing the welfare of young people 23,000 23,000 Grants to Institutions 2024 Total funds 2024 Advancing the welfare of young people 25,000 25,000 Page11
KROPIFKO CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Analysis of grants Icontinuedl The charity has made the following material grants to institutions during the year.. 2025 2024 Name of Instltutlon Grief Encounter Chai Cancer Care Bamel Youth West London Synagogue Camp Simcha 10.000 11.000 1,000 10,000 70,000 5,000 1.000 Total 23.000 25,000 Anatysls of expendlture by actlvltles Grant funding of activities 2025 Support costs 2025 Total funds 2025 Advancing the welfare of young people 23,000 6,343 29,343 Gnt funding of activities 2024 Support costs 2024 Total funds 2024 Advancing the welf8re of young people 25,000 22,878 47,878 Page 12
KROPIFKO CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Analysis of expenditure by activities Icontinuedl Analysis of support costs Advancing the welfare of young people 2025 Total funds 2025 Accommodation Subscriptions Non-recoverable VAT Governance costs 15 15 361 477 477 5,490 5.490 6,343 6,343 Advancing the welfa ofyoung people 2024 Total funds 2024 Accommodation Subscriptions Non-recoverable VAT Legal Governance costs 4,500 331 21,413 (3, 756) 390 4,500 331 21,413 (3, 756) 390 22,878 22.878 Independent Examiner's remuneration 2025 2024 Fees payable to the charity's independent examiner for the independent examination and preparation of the charity's annual accounts 1,440 Page 13
KROPIFKO CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Trustees. remuneration and expenses During the year, no Trustees reiVed any remuneration or other benefits (2024- £NIL). During the year ended 5 April 2025, no Trustee expenses have been incurred (2024 - £NIL). Investment property Freehold investment property Valuatlon At 6 April 2024 Revaluations 1,501,585 {201.5851 At 5 April 2025 1.300,000 The 2025 valuations were made by the trustees, on an open market value for existing use basis. The Iruslees have considered the market value of the property and assessed that a reduction in value was required. 10. Debtors 2025 2024 Due within one year Trade debtors Prepayments and accrued income 5,900 2,042 43,710 7.942 43,710 11. Credltors: Amounts falllng due wlthln one year 2025 2024 Trade creditors Other laxalion and social security Other creditors Accruals and deferred income 253 4,076 254,749 3.760 71,567 4,307 331,619 7.500 262.838 354,993 Page 14
KROPIFKO CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 12. Statement of funds statement of funds - current year Balance at 6 April 2024 Gainsl Balance at 5 (Losses) April 2025 Income Expenditure Unrestricted funds Designated funds Designated Funds 1,501,585 1201,585) 1,300,000 Ggnoral funds General Funds {278,6311 97,675 142,5991 {223,5551 Total Unrestricted funds 1.222,954 97.675 142.5991 1201.585} 1.076,445 Designated funds are funds held by the Iruslees as an investment propety with the objective of generating an income stream for the charity. Statement of funds - prlor year Balance al 6 April 2023 Transfers in/out Gainsl Balan at (Losses) 5 April 2024 Income Expenditure Unrestricted funds Designated funds Designated Funds 1,201,585 337,585 (37,585) 1,501,585 General funds General Funds 42,T51 115,317 {99, 108) {337,585) {278,631) Total Unrestricted funds 1,244,336 175,311 (99, 108J (37,585J 1,222,954 Page 15
KROPIFKO CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 13. Analysis of net assets between funds Analysis of net assets between funds - current year Unrestricted funds 2025 Total funds 2025 Investment property Current assets Creditors due within one year 1,300,000 39,283 1262,8381 1.300,000 39,283 {262,8381 Total 1,076,445 1.076,445 Anatysls of net assets between funds - prlor year Unrestricted funds 2024 Total funds 2024 Investment property Current assets Creditors due within one year 1,501,585 76.362 f354,993J 1,501,585 76.362 (354,993) Total 1,222,954 1,222,954 14. Related party transactions The Iruslees provide professional property management services through their company free of charge. This is Included in the accounts as donated services and propety management fees of £10,300 12024.. £6,700). At the year end, there Is a balance of £199, 10212024.. £275,972) owed to Kropifko Properties Limited, a Company lo which the Trustees are directors, which consists of construcbon costs paid on the charity's behalf. At the year end, there is a balan of £55,647 12024. £55,647) owed to Proper Proper T Limited, a Company lo which a Trustee is a director, which consists of construction costs paid on the charity's behalf. Page 16