Charity Registration Number: 1171650
THE KOPPEL PROJECT
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025

INDEX
Pa
Legal and administrative information
Trustees. Report
24
Independent Examiner's Report
Statement of financial activities
Balance Sheet
Statement of cash flows
Notes to the Financial Statements
9-15

THE KOPPEL PROJECT
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MAY 2025
Register Charity Name
The Koppel Project
Charity Number
1171650
Principal Address
CIO 75 Maygrove Road
London
NW6 2EG
Trustees
Amir Shaikh
Monami Paul Chakraborty (appointed 13 February 2025)
Zanst Mohamad Kadir
Independent Examiners
Goldwins
Chartered Accountants
75 Maygrove Road
West Hampstead
London
NW6 2EG

THE KOPPEL PROJECT
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MAY 2025
The trustees present their report and accounts for the year ended 31 May 2025.
The financial statements have been prepared in accordance with Accounting and Reporting by
Charities: 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 (FRS102- effective 1 January 2015- (Charities SORP FRS 102).
Structure, governance and management
The Goveming document is a Charitable Incorporated Organisation Foundation Constitution
dated 7th December 2016.The trustees meet quarterly to determine the general policy of the
charity. The board is kept rather small to allow work being done efficiently.
The Trustees who served the charity during the year were as follows:
Amir Shaikh
Monami Paul Chraboty (appointed 13 February 2025)
Zanst Mohamad Kadir (appointed 5 June 2023)
None of the trustees have any beneficial interest in the charity.
Appointing and electing trustees
A trustee is elected for the term of three years and may subsequently. whether before or after
the expiration the term, be elected again for another term. Any competent trustee may be
reappointed. There are inductions and training programs for new trustees. This includes Health
and Safety training and objectives of the charity are clearly explained by way of the CIO
constitution.
Risk management
The trustees have assessed the major risks to which the charity is exposed. In particular, they
have reviewed the bank overdraft arrangements and the ability of the charity to meet its future
commitments. The trustees are satisfied that systems are in place to mitigate such risks.
Objects and activities for public benefit
The objectives of the trust are relief of poverty through the provision of general education,
support and training. The advancement of education in particular in the arts by providing access
to works of contemporary art through exhibitions and at public facilities. The promotion of the
arts by cultivating artistic development, through education and training, by mentoring artists
working within the field of contemporary art and by providing public seminars on related topics.
The advancement of such other charitable purposes as are charitable according to English law.
Grant making policies
All grants are made for the purpose of fulfilling a public benefit in the UK or worldwide. This is
accordance with s17 Charities Act 2011. The trust is established forthe relief of poverty through
the provision of general education, support and training. As such our grant making policy is
geared towards these objectives.
Achievements and performance
The charity has successfully supported over a hundred artists at the Holborn campus providing
studio space and workshops as well as residence art exhibitions since the formation of the
charity. In addition, the charity has provided support to various education programs focusing on
English, Security and Forklift courses in order to help relief of poverty through education. A new
venue in Central London is available for the provision of more artist studios, art gallery and an

THE KOPPEL PROJECT
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MAY 2025
event space for talks and seminars. Grants are continuously being provided to learners for the
provision of licenses to enter the Workpla￿ through employment opportunities.
Financial review
The financial statements for the year show an income of £845,462 (2024: £942,983) forthe year
ended 31 May 2025. After expenditure of £878.183 (2024: £939.270), there was a deficit of
£32,721 (2024: surplus of £3,713).
All funds held at the year end are unrestricted. As a result of the funds received in the year the
reserves balance as at the year end was £85,458. The trustees aim to sustain the level of
reserves in line with its policy stated below.
Reserves Policy
The Koppel Project's reserves policy is to create sufficient reserves to enable the charity to
continue its activities and services at a meaningful level, should there be a drop in income. As
all income is derived from voluntary donations and other charitable activities, the trustees review
this position on a regular basis.
Plans for future periods
By seeking to relieve poverty. the charity perfoms an enormous public benefit. The charity has
achieved its objectives through its grant making program and is planning to continue doing so in
2025126.

THE KOPPEL PROJECT
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MAY 2025
Statement of the trustees, responsibilities
The charity's trustees are responsible for preparing the Trustees. Annual Report and the
financial statements in accordance with applicable law and regulations.
The law applicable to charities in England and Wales requires the trustees to prepare financial
statements for each financial year. Under that law the trustees have elected to prepare the
financial statements in accordance with United Kingdom Generally Accepted Accounting
Practice (United Kingdom Accounting Standards and applicable law). Under charity law the
trustees must not approve the financial statements unless they are satisfied that they give a true
and fair view of the state of affairs of the charity and the income and expenditure of the charity
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 in the Charities SORP;
make judgements and accounting estimates that are reasonable and prudent,,
state whether applicable accounting standards have been followed, subject to any
material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concem basis unless it is inappropriate to
presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that are sufficient to
show and explain the charity's transactions and disclose with reasonable accuracy at any time
the financial position of the charity and enable them to ensure that the financial statements
comply with the Charities Act 2011. They are also responsible for safeguarding the assets of
the charity and hence for taking reasonable steps for the prevention and detection of fraud and
other irregularities.
Amir Shaikh
On behalf of the trustees of The Koppel Project
Date

INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE KOPPEL PROJECT
FOR THE YEAR ENDED 31 MAY 2025
I report to the trustees on my examination of the accounts of the The Koppel Project for the
year ended 31 May 2025.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in
accordance with the requirements of the Charities Act 2011 ('the Act,).
I report in respect of my examination of the Trust's accounts carried out under section 145 of the
2011 Act and in carrying out my examination I have followed all the applicable Directions given
by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
Since the Trust's gross income exceeded £250,000, I confirm that l am qualified to
undertake the examination because l am a member of the ICAEW. which is one of the
listed bodies.
I have completed my examination. I confirm that no material 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 Trust as required by section 130 of
the Act; or
2. the accounts do not accord with those records., or
3. the accounts do not comply with the applicable requirements concerning the form and
content of accounts set out in the Charities (Accounts and Reports) Regulations 2008
other than any requirement that the accounts give a 'true and fair view which is not a
matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the
examination to which attention should be drawn in this report in order to enable a proper
una¢rsldniJir%g vf ibe. 44f.Q<)Jnts to be reached.
steij1i￿rj.tt1)[][jwh'lri MA FCA CTA
Golawlns Llmiled
Chartered accountants
75 Maygrove Road
West Hampstead
London NW6 2EG
Date:
22 January 2026

The Koppel Project
Statement of financial activities
(incorporating an income and expenditure account)
For the year ended 31 May 2025
2025
Unrestricted
2025
Restricted
2025
Total
2024
Total
Note
Income from:
Donations
Charitable activities
Investment income
Total income
37
71.566
773,859
845,462
37
71,566
773,859
845,462
2,452
106,619
833,912
942,983
Expenditure on:
Raising funds
Charitable activities
Total expenditure
1,392
876.791
878,183
1.392
876,791
878,183
502
938,768
939,270
Net Income l (expenditure) for
the year
(32,721)
(32,721)
3,713
Transfers between funds
Net movement in funds
(32,721)
(32,721)
3,713
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
13
118,179
85,458
118,179
85,458
114,466
118,179
All of the above results are derived from continuing activities.
There were no other recognised gains or losses other than those stated above.
The attached notes form part of these financial statements.

The Koppel Project
Balance sheet
As at 31 May 2025
2025
2025
2024
2024
Note
Fixed assets:
Tangible assets
256,450
256,450
204,619
204,619
Current assets:
Debtors
Cash at bank and in hand
10
156,126
11,317
167,443
227.561
1,620
229,181
Liabilities:
Creditors: amounts falling due within
one year
11
(338,435)
(315.621)
Net current (liabilities)
(170.992)
(86,440)
Total net assets
85.458
118,179
Funds
Unrestricted funds:
Total funds
13
85,458
85.458
118,179
118,179
Approved by the trustees on
and signed on their behalf by:
Amir Shaikh
Trustee
The attached notes form part of the financial statements.

The Koppel Project
Statement of cash flows
As at 31 May 2025
Notes
2025
2024
Cash flows from operating activities:
Net cash provided by operating activities
14
(661,176) (751,698)
Cash flows from investing activities
Income from dividends
Interesv renv dividends from investments
Salel (purchase) of fixed assets
773,859
833,912
(102,986) (91,626)
Cash provided by investing activities
670,873
742,286
Change in cash and cash equivalents in the year
9,697
(9,412)
Cash and cash equivalents at the beginning of the year
1,620
11,032
Cash and cash equivalents at the end of the year
11,317
1,620

The Koppel Project
Notes to the financial statements
For the year ended 31 May 2025
1 Accounting policies
a) Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting
by Charities.. Statement of Recommended Practi￿ applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102 - effective 1 January 2015) - (Charities SORP FRS 102).
The charitable company meets the definition of a public benefit entity under FRS 102. Assets
and liabilities are initially recognised at historical cost or transaction value unless otherwise
stated in the relevant accounting policy or note.
b) Going concern
The trustees consider that there are no material Un￿rtaIntieS about the charitable company's
ability to continue as a going concern. The trustees do not consider that there are any
sources of estimation uncertainty at the reporting date that have a significant risk of causing a
material adjustment to the carrying amounts of assets and liabilities within the next reporting
period.
c) Income
Income is recognised when the charity has entitlement to the funds, any performance
conditions attached to the income have been met. it is probable that the income will be
received and that the amount can be measured reliably.
d) Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of
charity. Designated funds are unrestricted funds of the charity which the trustees have
decided at their discretion to set aside to use for a specific purpose. Restricted funds are
donations which the donor has specified are to be solely used for particular areas of the
charity's work or for specific projects being undertaken by the charity.
e) Expenditure and irrecoverable VAT
Expenditure is recognised On￿ there is a legal or constructive obligation to make a payment
to a third party. it is probable that settlement will be required and the amount of the obligation
can be measured reliably. Expenditure is classified under the following activity headings-
Costs of raising funds comprise of trading costs and the costs incurred by the
charitable company in inducing third parties to make voluntary contributions to it.
as well as the cost of any activities with a fundraising purpose.
Expenditure on charitable activities includes the costs of delivering services.
exhibitions and other educational activities undertaken to further the purposes of
the charity and their associated support costs.
Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was
incurred.

The Koppel Project
Notes to the financial statements
For the year ended 31 May 2025
1 Accounting policies (continued)
Allocation of support costs
Support costs are those functions that assist the work of the charity but do not directly
undertake charitable activities. Support costs include back office costs, finance, personnel.
payroll and governance costs which support the charity and its and activities. These costs
have been allocated between cost of raising funds and expenditure on charitable activities.
The bases on which support costs have been allocated are set out in note 5.
g) Operating leases
Rental charges are charged on a straight line basis over the term of the lease.
h) Tangible fixed assets
Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation is
provided at rates calculated to write down the cost of each asset to its estimated residual
value over its expected useful life. The depreciation rates in use are as follows:
Computer equipment
Leasehold improvements
25 % reducing balance
25 % reducing balance
i) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade
discount offered. Prepayments are valued at the amount prepaid net of any trade discounts
j) Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a
short maturity of three months or less from the date of acquisition or opening of the deposit or
similar account.
k) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting
from a past event that will probably result in the transfer of funds to a third party and the
amount due to settle the obligation can be measured or estimated reliably. Creditors and
provisions are normally recognised at their settlement amount after allowing for any trade
discounts due.
l) Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic
financial instruments. Basic financial instruments are initially recognised at transaction value
and subsequently measured at their settlement value with the exception of bank loans which
are subsequently measured at amortised cost using the effective interest method.
io

The Koppel Project
Notes to the financial statements
For the year ended 31 May 2025
2 Income from donations and legacies
2025
2025
Unrestricted Restricted
2025
Total
2024
Total
Donations
37
37
37
37
2,452
2,452
3 Income from charitable activities
2025
2025
Unrestricted Restricted
2025
Total
2024
Total
Income from charitable activities
71,566
71,566
71,566 106,619
71.566 106,619
4 Income from investment activities
2025
2025
Unrestricted Restricted
2025
Total
2024
Total
Rental income
773,859
773,859
773,859 833,912
773,859 833,912
li

The Koppel Project
Notes to the financial statements
For the year ended 31 May 2025
5 Analysis of expenditure
Raising Charitable
funds
activities
Support
costs
2025
Total
2024
Total
Basis of allocation
Fundraising costs
Staff costs
Rents and rates
Grants paid
Repairs and maintenance
Light and heat
Insurance
Legal and professional fees
Bank charges
Security costs
Independent examiners fees
Management Fee
Interest Expense
Service charges
IT costs
Other office costs
Depreciation costs
Direct 1,392
Direct
Direct
Direct
Direct
Direct
Direct
Direct
Direct
Direct
Direct
1,392
502
190,627 231,245
299,102 411,452
5,000
73,365
68,710
17,866
1,550
102
22,733
3,630
8,400
36,001
60,082
633
633
13,778
37,835
37,835
62,323
51,155
51,155
37,664
787,168
89,623 878,183 939,270
89,623 (89,623)
876,791
190,627
299,102
5,000
73,365
68,710
17,866
1,550
102
22,733
3,630
8,400
36,001
60,082
70,987
40,290
6,182
35,056
118
26,043
3,630
Staff time
Staff time
Direct
1.392
Support costs
Total expenditure 2025
1,392
878,183
Total expenditure 2024
502
938,768
939,270
12

The Koppel Project
Notes to the financial statements
For the
ear ended 31 Ma
2025
6 Net income l (expenditure) for the year
This is stated after charging l (crediting):
2025
2024
Depreciation
Independent examiners fees
51,155
3,025
37,664
3,025
7 Analysis of staff costs, trustee remuneration and expenses, and key management
personnel costs
Staff costs were as follows:
2025
2024
Salaries and wages
Social security costs
Pension contributions
176,014
11,745
2,868
190,627
212,068
15,609
3,568
231,245
None of the employees received remuneration of over £60,000 during the year. (2024'.Nil)
The total employee benefits including pension contributions of the key management personnel
were £41,430 (2024: £61,467).
The average number of employees during the year were 8 (2024.8).
8 Taxation
The charity is exempt from corporation tax as all its income is charitable and is applied for
charitable purposes.
9 Tangible fixed assets
Leasehold Fixtures and
improvement
equipment
Total
2025
Total
2024
Cost
At the start of the year
Additions in year
At the end of the year
563,201
88,000
651,201
48,496
14.986
63,482
611,697
102,986
714,683
520,071
91,626
611,697
Depreciation
At the start of the year
Charge for the year
At the end of the year
367.644
48,889
416,533
39.434
2,266
41,700
407,078
51,155
458,233
369,414
37,664
407,078
Net book value
At the end of the year
234,668
21,782
256,450
204,619
At the beginning of the year
195.557
9.062
204.619
All of the above assets are used for charitable purposes.
13

The Koppel Project
Notes to the financial statements
For the
ear ended 31 Ma
2025
10 Debtors
2025
2024
Trade debtors
Prepayments and other debtors
88,526
67,600
156,126
166,379
61,182
227,561
11 Creditors: amounts falling due within one year
2025
2024
Trade creditors
Other creditors
89,520
248,915
338,435
89,520
226,101
315,621
12 Analysis of net assets between funds
Total
funds
Unrestricted
Restricted
Tangible fixed assets
Net current assets
Net assets at the end of the year
256,450
(170,992)
85,458
256,450
(170,992)
85,458
13 Movements in funds
At the start
of the year
At the end
Income Expenditure of the year
General funds
118.179
845,462
(878.183)
85,458
Total unrestricted funds
118,179
845,462
{878,183}
85,458
14 Reconciliation of net income l (expenditure) to net cash flow from operating activities
2025
2024
Net income l (expenditure) for the reporting period
(as per the statement of financial activities)
Income from investments
Depreciation
(Increase)I decrease in debtors
Increasel (decrease) in creditors
Net cash provided by l (used in) operating activities
(32,721)
3.713
(773,859) (833,912)
51,155
37,664
71,435
268,184
22,814
227,347
(661,176) (751,698)
14

The Koppel Project
Notes to the financial statements
For the
ear ended 31 Ma
2025
15 Related party transactions
There are no related party transactions to disclose for 2025.
There are no donations from related parties which are outside the normal course of business
and no restricted donations from related parties.
15