REGISTERED GHARITY NUMBER: 11765111 Report of the Trustèes and Vnaudlted FlnanclRI Statom•nts for tlie Year Ended 31 Decomber 2023 for Tho Margaret Klllbery Foundatlon Blackwood Fulcher & Co, Chartor@d A¢counlanls 9 S( Goorge's Yard Farnham Surroy GU97LW The Margarot Klllbery Foundation ontents of the Flnan¢lal Statemonts for th6 Year Endod 31 December 2023 Page Rtyport of the TriTSteo5 Indepondent Examlnor'8 Rèport Statement of Financlal Actlvltlès Balance Shoot Notss ¢0 the Flnanclal 8tat¢mont5 6 10 10 D¢tallod Statomont of Flnanclal Acllvltles The Iqargor8t Klllbery Foundatlon Report of the Tiustees for tho Yoar Ended 31 Docetnber 2023 The Iruslees present their roporl with the Ilnanual 5t81omenls of the charity lor tho year ended 31 Docember 2023. The Irusloes have adople(J the provisions ol Accounllng an(J Reporling tiy Charilies.. Slalemenl ol RgcommendÈd Pr¢icli¢e applicable lo charilios preparing Iholr dLcounls in accorclance ￿[b the FSn&ncial Roportin9 Standard appll¢ab18 in Ihe UK and Republlc of Ireland IFRS 1021 leff¢¢live 1 Janu£ry 20191. QBJECTIVES AND ACTIVITIES Tl)tr Foundation'5 objects are io advance Ihe èducalion of PBDpIB In the subjects ol music and Ihe arts. The Foundalbn make$ grants to organisalbns and Indlvlduals In Jcwrdance wilh118 oblecls and are agroed by th8 Iru5tees. Thg Trustfros, 114ving regard lo tho Public 88n6fll guidance publislied by the Charily Commission, in acLord&nce with Se¢lh)n 17 of Iho Charllies Act 2011, consider Ihgl the purposo and a¢llvilie8 ol Ihe cliarlly 5alisly tho Toquliemen15 01 the publlc ben@111 lost Sel out In Sc4clion 4 01 th¢3 sarn0 A¢1. FINANCIAL REVIEW Tlio financial slaloirenls are sel out Dn pages 4 10 5. The Foundallon ro4celved furlher dontillons Iroin Ilio selllor Irusloo, Rlchard Davoy durlng 1110 ye¥r. Tlie Iru310&8 hava dppolnled invoslmenl monagors lo Invosl in a wldo r&]ngo of quole(I bonds and sO￿rIll&s, during Iho yoar under revl&w Ihe Foundalion movod il's Portfolio ol inveslm¢n15 ID 8 new inveslmenl managor. FollowlrKJ Inv¢glmonl lossos In the prior year, Ihg foundation ha8 relurned lo galns In Inveslmgnl in Ilie r￿rrent y88r. nia Iru81e6s' KK)licy Is lo apply income 8nd capllal low8rds Ihe prornollon ol ils objects. Al the pertod end, th6 Foundalion had reseNe8 01£2,824,46312022,. £2,7LIO,1921. Th8 flnancial porformancfi ol the foundallon Is dopendonl upon furlhor don8llonB rocelved from lh9 8olllor and Inveslmonl p¢*rfonr8nrre. Th¥rg 18 8 rlsk 11)at the v8lue of Invoslmonis could 1811, allecllng Iho abllily of Iho Iru81wes to make donalions from Income. ACHIEVEMENTS, PERFORMANCE AND PLANS FOR THE FUTURE Tho suic055 01 lh8 Foundalio)n is me8sured In terms ol Ilie levd ol donalion811 recelve3 and Irorn Invoslm¢nl Income. Tho foundolbn'8 plans lor Ihe lulur& r(4BI on tho charllablo In16nlions ol lh8 Irusleos. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The chai'ily i¥ conlrolled by Ils uov¢*rnlng docurngnl. a dood tsl Iiusl ond conslllules gn unlncorporaled charlly. The Found815on was conslilvlod on 51h January 2018 ind b £wverned by the Iru51 d08d. The Founda11￿ Is 8 Ch&Aiable Incorporglg(l Org8nlsAllon. Tho identificallon and appolnlmenl ol new Irusl£e5 con8ldor9d by the exlstlng Irusloos. A new Iru81ee May be appolnlod by 8 rosolulK)n ol a meellng ol IhE Iruslosg. The Iruslo@s who served during lh$ year shown Iii Ilio 'Rel8rBnc@ and admlnistrallvv d¥la115' secliun boluw. All Irusle@5 glve ol Iholr Ilmo freely and no Iruslee romunoroiion was pald during tho period. Tlie malor risks lo wlilch tho Foundallon is exposed, as Idenllf16d by the trustees, havo be￿ n•vigwed and syslom3 h8vg been es18bll8hod lo miligale those rlslis. REFERENCE AND ADMINISTRATIVE DETAILS Reglstergd Charlty number 1176581 Prlnclpol address 128 Fr6slon Road London W106TF Trustees R A Davey B Dav8y C O'callaglian N O'callagh Z Davoy E Dav(*y Pagè 1 Thg Iylargaret Klllbery Foundation Roporl of the Trustogs for tliè Year Ended 31 Decemher2023 REFERENCE AND ADMINISTRATIVE DEfAILS Independent Examlner Blaekwood Fulrhor & Co. Chart8red AccouniMnl$ g Sl GeDrge$ Yard Fainhwm Surroy GU97LW IoL} Approved by ordor of Ihe bD8rd ol Irustetss on ..-.......................................... nd slgii8d on hs behglf by.. R A Davey- Tru8to0 Pège 2 Independent Examinor's Roport to the Trustee$ of The Margaret Killbery Foundatlon Independent èxamin8rf8 raport to the trusteès of Tho Marga￿t Klllbory Foundatlon I reporl lo the charity IrustBes on rny examlnation ol IhB accounls ol Thtr Maigarol Klllbery foundatlon Ith0 Trustl for th& ye4r @nded 31 December2023. Responsibilltles and basls of roport As the charily Irustogs of the Trust you are r05ponslble lor tho preparalion ol Ihts accounts in accordance ￿th (he requiremenls of the Charllles Act 20111'lho A¢l'l. I reporl in respect of my examlnalSon ol the Trust's aWDvnls carri6d oul undor Secii(m 145 01 the Acl in carrying out Tny examinalion I liavg lollowod all appli￿b￿ DSreollons given by Ihfj Charlly Comrni5sion und8r Seclion 14fal5llbl ol Iho Act. Indepondont examlner's stat¢ment I have completo(S my examlnallon. I conflrm Ilial no malerlal mallc4r5 havo como lo my 8llenllon in conngclion wilh thL4 ex￿lnallOn giving mo cause lo believe Ihal In any rnalerial rGspacl.. acwunling rocords wer@ not kopl In rospocl of tho TrLisI 29 roquired by Secllon 130 of th8 Act.. or IhL4 aCLounls do not accord Ihose records,. or tli@ accounts (50 nol cornply wllh lh$ applicable roqulremenls conceri)Ing Ihe form and conlenl ol accounts sal uul In 1170 Ghariliw5 IAccounls 8nd Reports) Regulallons 2008 ollior Ihan any roquirernonl Ih81 the aceounls glvo a true and lair vSew whloh18 not o mall8r conslderecs as part of an indopondont tsxaminatlun. I havo no concorns and have com0 a¢r086 no other rnallor8 In connecllon wllh Ih¢J ¢Jxamin&lion to wliich allonllon Should bL4 drawn In thYJ roporl In order lo ￿abl0 a proper undor3landlng ol Ihe acwunls lo be reached, J4kn- 18n Fulchor FCA Bl¥ckwood fulcher & Co. Chgrlered AcGounlanl$ 9 81 George's Yard Farnh Surrey Gug 7LW Dale.. Pège 3 Tho Margarot Klllbory Foundatlon Stateimont of Flnancial ActlvitlQ5 for the Year EndÈd 31 December 2023 31.12.23 Unr@slricled 31.12.22 Total funds Not¢s INCOME AND ENDOWMENTS FROM t>onalions and legaci65 10,514 3,237 Investment Income 63,083 35,022 Total 73,597 EXPENDITURE ON Charitable actsvlues 82,579 83,112 Other 49.017 Total 131,596 133.606 Nel galnslllosse81 on Inveslmon18 102,270 1221,0101 NET INCOMEIIEXPENOITLIREI 44,271 1315,5571 RECONCILIATION OF FUNDS Tol¥l funds br(￿9111 forward 2,780,192 3.095,749 TOTALFUNDS CARRIED FORWARD 2.824,463 2,780.102 The noles form parl ol Ihese financiEJI $18lc4menis P898 4 The Margaret Klllbory Foundallgn Balanco Sheot 31 Decembor2023 31.12.23 Unreslri¢ted fund 31.12.22 Tols1 funds Notes FixfD ASSETS Inveslrnenls 2,795,na77 2,520,873 CURRENT ASSETS Doblor$ C88h al bank 3,184 28,002 1,061 260,478 31,186 261,639 CRfDITORS Amounts falllng due w41Nn ono yoar 12,2601 12,2201 NEf CURRENT ASSETS 28,886 259,310 TOTAL ASSET8 LESS CURRCNT LIABILITIES 2,82A,463 2,71JO,102 NET AS8£T8 2,824,483 2,780,192 FUNDS Unreslrlclod funds 2,824,463 2,780.192 TOTAL FUNDS 2,824,463 2,780,192 The Ilnan¢l&l 818lom¢nts were ipproved by 11)0 Bo•r(l of Trust808 and aulhorSsod for Iss and w@re slgnpd on118 behalf by.. R A iiov•y- Twsteo The notes form part of these financial slatemtrnls PJge 5 Thg Margaret Klllbery Foundatlo Notos to the Financial Statements for tlie Year Ended 31 Docomber 2023 ACCOUNTING POLICIES asis of prèparlng th8 Ilnanclal statoments The financial slatFJmenls ol Ilie charily, which is a public benefit @nllty under FRS 102, havc4 be￿ prepared In 8ccoid8ncL4 with the Charille8 SORP IFRS 1021 'Accounling and Roporling by Cheirllies.. Slalemeiil ol Rècommendod Practice appll¢able lo chari1168 preparing Ihelr accounts in gccordanco wllh Ilio Finan￿al Reporting Slandard applieablo in Ihe UK and Ropubll¢ ol Ireland IFRS 1021 loffedive l Janu1r ry 20191, FinancTal Roporling Slandard 102 'Thv Flntjnclal Reporllng Slandard applicablu in Iho UK ￿rnd Republic Di Ird8nd' E)nd Ihts Charille5 Acl 2011. The linanclr11 sl8lt)menls liave b8on prepared undfjr Ihe hlslori¢al Gosl convenllon. wllh lh& 9x¢eplion ol invE8linonls whlcl) are includgd ol markol valuE, as mo(Illiod by Ilie rovalualion of ceilaln assels. Th& fi'nandal 5talement8 have been pr9pared under Ilio golng Con￿rn basi8. Incomo All Ineomo Is rEcognlsed in tho Slalement ol Fln&nclol Aclivilles once Ilie chfjrily Flos enllll8iniiil lo Ihg funds, 11 18 proLiablo Ihal the income wlll bo r¢coivod and Iho amount Can be rnegsured r@liably, Tax ￿d81M￿ble on nlinuod... Thè MargaTel Klllbery Foundation Notes to the Financial StkJteinonts- contlnued for the Year Endad 31 D¢cember 2023 TRUSTEES, REMUNERATION AND BENEFITS There wero no Iruslee5' remunfjr8lion or olher ben¢fits for Ilie year onded 31 0￿0mbOr 2023 nor lor 11)e year onded 31 DEcemb8r 2022. Trustees. exponses There werc4 no Iruslees, expen58s paid for the year ended 31 Decombor 2023 nor lor 11)6 year ondod 31 Decemk4r 2022. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unreslrlclo fund INCOME AND ENDOWMENTS FROM Donations and 18ga¢ios 3.237 Inveslmranl Incoma 34f,822 Total 39,059 EXPENDITURF ON Charltaiilo a¢tlvStlo$ Charllablg &cliviliey 03,112 Olhgr bO,494 Total 13J,606 Nel g￿￿$111088QsI on Inv9$1wgnls 12?1,0101 NET INCOMEIIEXPENDITUREI 1315,5571 RECQNCILIATION OF fuNDS TolGI brouglil forward 3,095,749 TOTAL FUNDS CARRIED FORWARD 2,7130,192 FIXED ASSET INVESTMENTS Cash and solllcrnonls pendSng Llslod Invoslmonls Tol818 MARKCTVALUE Al 1 January 2023 Additions DIsp05als Revalu8lions 2,345,582 2,252,340 12.024,2061 102.270 175,2g1 2,520,873 300.105 2,552,445 1355,8051 12,380,011) 102,270 Al 31 December 2023 2,670,986 119.501 NETBOOK VALUE At 31 December 2023 2,675,986 119,591 2,795,577 Al 31 Decomber 2022 2,345,582 17 Jf,291 2,520,873 Thero were no invostment assets oulside the UK. Page 7 conllnued... The MargaF6t Killbery Foundation NotB5 to the Fi￿ancial Statements. contlnued for th8 Year Ended 31 December 2023 FIXED ASSET INVESTMENTS- continued Cost or valuatK)n at 31 December 2023 is roprosented by.. Cash sell1@i￿enIS pendlng Listed Inveslmonls Totals Valuation In 2020 Valualion In 2021 Valuallon in 2022 Valuallon In 2023 Cost 78,178 132,262 1224,0181 1J6,935 2, Jf82.629 78,178 152,262 1224,0181 1bQ,9JJ 2,702,220 119.591 2,675,986 119,591 2.79J,577 Iyfixed assol Inveslmonis had nol been rev8lugd Ihoy would have been inclvded al the lollowing hlslorfcal c051.. 31.12.23 31.12.22 Cost 2o8,fj29 2,409,160 FIx8d assot Iiivoslrngnla woro valuod on on opgn m8thol bas15 basls on 31 December 2023 by Roll)scl)Ild & Co W8811h Maiiag•m&nl. DEBTORS: AMOUNTS FALLING DLIE WITHIN ONE YEAR 31.12.23 31.12.22 Olher d8blor8 3,164 1,061 CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Cxhèr credliors 2.2110 2,220 LEASING AGFIEEMENTS Mlnlmum lo8s0 paymenls und¢>r non-¢8ncollable operallng1oa5Es fall due a8 follo￿.. 31.12.23 31.12.22 Wilhln one year 20,OFJ3 Tho foundollon was 85slgned the leage of 128 Fr981on Road. London, W10 6TR by Flichard Oayey durlng 2020. MOVEMENTIN FUNDS Nel rTh)vemenl In funds Al 31.12.23 A11.1.23 Unr*striGtsct funds Gonoral lun 2,780.192 fy1,271 2.824,463 TOTAL FUNOS 2,780,192 44,271 2,824,463 Pag8 8 ty)nlinued... Tho Margaret Killbery Foundatlon Not£8 to thp Flnanclal Statement$. Continued for tl?e Year Ended 31 Decomber 2023 OVEMENT IN FUNDS- Continued Nol rnovernenl in funds, Includ6d in the above are as lollows.. Incoming rosour¢e5 Rosouroes oxp8nded Galns aiid loss¢s Movoment in funds Uniostricted fund8 Go4neral fund 73,597 1131,5961 102,270 44,271 TOTAL FUNOS 73, Jf97 131,5961 102,270 44,271 Comparatlvos for movernent In funds Nel rnovfyment In funds Al 31.12.22 A11,1.22 Unrostrlcted fund$ G6n¢ral lund 3,0gfJ.749 1315,5Jf71 2,780,192 TOTAL FUNDS 3,095,749 131fJ.SS71 2,780,192 Coinpar8llve not movgrnenl In funds, Includorl In Iho 8bove are aB follows.. Inwming reqour¢e8 Resources expon(lad Galns and Ioy5oa Movernonl In funds Unr•Btrlclod fund8 Ggneral fund 39,059 1133.6061 1221,0101 1315,5571 TOTAL FUNDS 39,059 1133,6061 1221.0101 1315,Jf571 A curronl y9ar 12 months and prlor your 12 monlhs comblned po8ilion Is as lollokvs.. Nel movoinenl n funds Al 31.12.23 Al 1.1.22 Unrestrlcled funds General fund 3,095,749 {271,2861 2,824,463 YOTALFUNDS 3,095,74g 1271,2861 2,824,d63 A C￿rren1 yg8r 12 monlhs and prior year 12 monlh8 comblned nel mDV£tnenl In funds, Includod Sn Ilie abovg are a8 follows.. Incomrng resourcty$ Resources expended Galns and 105S85 Mov@menl in fund8 UAre91rlcled lurKIs General fund 112.656 1265,2021 1116,7401 1271,2J61 TOTAL FUNDS 112.656 1265,2021 1118,7401 1271,2QSI Con￿.￿ued... The Margarot Killbery Foundation NDte5 to the Flnanclal Statemont$- ¢ontlnued for the Year Endtsd 31 DocombEr 2023 10. RELATED PARTY D15CLOSURES Dudng the yoar under review tho Charity rec6lvgd donallon5 01 £8,411 12022 £2,176) froin Rlcliard Davoy, a TnJ8188. Pggo10 Tho Margaret Klllbery Foundation Dotailed Statomenl of Financlal Activltlos forthe Year Ended 31 Der￿mber 2023 31.12.23 31.12.22 INCOME AND ENDOWMENTS Donatlons and legacles Donations Gifl aid 15.411 2,103 2,176 1,061 10,S14 3,237 IIiv081m0nt Income ExthangL4 rate galns Li51ed investment incomo 51.496 35,822 63,083 Total incomlng Tosour¢es 73,597 39.OJf9 EXPENDITURE Charltable a¢tlvltlo5 Gran1.* lo in8lilullons 82,579 83,112 Svpport cost Govornance ¢08ts Reiil R8185 Wob511$ Bnnll ¢l)arge Accountancy Inveslmonl manfjgwmenl loes 24,111 2,278 235 24,113 2,176 235 84 2,820 21,066 2,280 20,029 49,017 50.4194 Total rowurces oxpmcled 131,596 133,60S Nèt Qxpgndllure bofoY¢ galns and lossos Roallsod rocognlsed galns and lo$$es Inveslmonls l Jf7.g991 194,4f471 102.270 1221,0101 Not locoinellexpondlturo 44,271 1315,5571 Th15 page does not form part of the slalulory flnanclal stalemonls Pago11