REGISTERED CHARIIY NUM8ER.' 1178581 Report of thg Trus¢ee$ and Unaudlted FlnNnGllll 8tatHm•nts for the Year Ended 31 Deaember 2024 for The Margaret Klllb•ry Foundatlon Bla¢*wcod Fvtther & Co. Chartered Account8n18 9 Sl Gotrgè'8 Yèrd Famham Surrey GU9 7LW
The Margiret Klllbery Foundatlon Contènts of thè Flnan¢lal Statements for th• Year Ended 31 De¢emb¢r2024 Page Report of the Trustsos 1 to 2 Independent Examlner's Report ststement of Flnancb•l A¢tlvltl•s Bal•n¢e Sheet Note8 to lh¢ Flnan¢lal Statsm8nt* 6 to 10 Detaifad 8t•t•ment of FlnanGlal A¢tlvltl•$ OT
The Margat Klllbery Foundatlon Reportoflhe Tru5tee$ forthe Year Ended 31 Deoember2024 Thè tru5teo5 presènt thgir report with thè financial strdl&m&nts of the charity for the year ended 31 Dember 2024. Tho twslees h8V8 adopl¢d the prO$1D5 of Accovnting and RertIng by Ghorf1185'. Slolernent of Rrnmended Praclc8 4pplicabl8 to charith"85 preparing Ih¢ir 4¢X018 in accordan¢• with th6 Fln4nci81 R8POrtÈng Standard applicable In the UK and Repuuic of Ireland IFRS 1021 leff8Ctivo 1 January 20191. OBJECnVES AND ACTIVITIES The Foltndation's ok4ètts are to advAn¢è thg gducalion of paoplg in the subjo¢tB of music and Ihe arts. Tha FoUrlI10r$ makes grants to organis81ions 8nd individuals in ac¢ordanEe wllh It8 objo¢h and are 8gre8d by Ihts truste8S. Tho Tiusto•$, h8vlng r6gard to thé PublK Benafil guidance publl8h8d by Iho Charily C¢>mmlB8nn, in accord¢• wlh Section 17 01 Iha Ch8rilies Act 2Q11, consider that tha pthrpose 8nd 8¢tivili9s of the charty utisfy the r8quirem&nts of the public b8ngfi1 test set out In Sèction 4 of thg some Act. FINANCIAL REVIEW Th• f5nancial 8latsm8nts 8re 8el out on pag884 to 5. Th Found4lion roceivad further donqtlons from tha Sowcr and trustee, R1¢hard Oavoy duiing th? year. The Iru8te88 h•v• •pOnlod vestment manAgèrn lo invoBt In A wjdg Mng• of quoted bands qnd s8ri•s. Th• 1oundatK>n has eentinupd to make gains in Invgslments In thé eurrenl yaar, Th• Iruste06' poll¢y KB to apFly k)¢ome and capilBI tOWArds th6 promollon ol 11$ o¥ects. Al th¢ p?rfod •nd, thé Fdundalksn hod res•rv8s of£2,958.10112023.' £2.824,4831. Thè fln8nclal p?rfomanca of the Found8lDn l• 4wndent upon luther doTrallons r8c8ivod frern th8 8ettl¢r ano Invo8lM•nt porformanc•. Th•r• F• • riBk that th8 lUts gf invoBlm•ntB oould f•ll, •ffeJtlng the oblllty ol th• tN81•8¥ to mak• from lTrcom¢. ACHIEVEMENTS, PERFORMANCE ANO PLAN8 FOR THE FUTURE Tha SLteLaS# pflhe F%yJndatKn 1$ rn•d In l•rrns of the I81 of don•tbn$11 r•calw8 and from 5nvostmenl IrJ¢c¢n¢. Th? Foundallon'& plAna forth• future ra8lon th• ¢h4rll•bh Intenllon6 of th• INit••s. STRUCTURE, GOVERNANCE AND MANAGEMENT Gov•rnlng do¢ument Tho ¢hartty Is eonlrol•d by It8 QJV8mlng d¢¢um&nl, s deed of Iru8t and con#ts'lUl•s an unlrwp¢ral•d Gharlty. The Foun44ll¢n was con8tilut¢d on Sth January 2018 and is govemed by the tr1 d•8d. F¢undthlon 18 B Charlt8ksl• In¢orporatod OrganiBa1n. The Idnt4fi¢otion And app¢inlThnl of naw ttvtyt• l¥ ¢onBlderèd by the ¥xl¥tlno tru$t088. A now MBY be &ppolnt¢d by a r•solutlon of a meeting ol tho tru6t608. Th8 IrustoÉ8 $8rw8d during the year 4r• ¥lK)wn in the 'Ref8rerrte and admlnlstrative details, section below. All Iru81ea& give of their tima fr&8ly and no trustee ramartn w4¥ paid during the p8rlod. Th¢ Major risks to whloh the Foundati is exposed. as id•ntifi¢rJ by th8 truBteBS, havo been revI6d and systerns h8V8 ben astd)Ik4hed lo mlJgat8 th030 118k$, REFERENCE AND ADMINI8TRATIVE DETAIL8 Regls¢ered Charliy number 1176581 PrfA¢lpal 8ddTes8 t28 Freston Road London WI0 6TF Pagè 1
Thè Maryaret KINbory Foundatlon Report ol thè Trustees for the Year Endgd 31 December 2024 Trustees R A Davey B Dovgy C O'callaghan N Q'Ca118ghan Z D•vey E Oav8y IndependÈnt Examiner Blackwood Fulcher & Co. Chartered Accoun18nts 9 St Georga'8 Yard Farnham su@Y GU9 7LW 7.....,..10 - 21L> Appro by crder of Ihe boord of Iru5ts6s ¢n....... And aIgn on It8 behalf by.. R A Dav•y- Tru8ts¢ Page 2
Inthpendent Examlnefs Report to the Trusteès of The Margaret KIUbery Foundatlon Independent gxamlnevs report to the trust•es of The Margartt Klllbery Foundatlon I raport lo th8 charity trusl¢&s on my $xaminats'Dn of thè gecounis of Th8 Margar•t Killlxtry Foundatlan Ilh8 Trust) for the year Ènded 31 D&Gomb8¥ 2024. Responslbllltles and basls ol rert As Ihg charty truste&s of the Trust you •M r•sponsibl• fcr tho preparatton of tho a¢trJunts in a¢¢ordance wlth th• requlr8rnents of thè Char)Iles Act 2011 Cthe Act'l. I report of my xaminaU¢n of the Tru$fs accounts carrf out undar Section 145 of the Act qnd In out rny exomlnation I havo fdlow•d all applicablo Dlré¢tions Given bythe Charlty Comml$gion untJgr Seclbn 1451Sllbl of the Act Independent examIne9 statement I have compl8t8d my •x8minatron. I confimi thal no malvrf81 m8ttars hav• crffie lo my att8nlion irs ctsnnecticfi wlh the 8xamlnotl¢n glving rne ¢•we to bdiev8 thBt In any material r&ped.. accounting record8 Wor& not kept in rg$pecl Dlthe Trust 88 r¢quimd by S¢don 130 olth8 A¢t', or the accounts do not 8ccord with th¢$• records.. or tha a¢wunts dc not comply wlh tha applicable rgqulr8mants coneèrning th8 lorrn and conl8nl of a¢UnIS set oul In th6 Charilios {Aou¢S and Reports) Rooul4tions 2008 ofhgr than Any r8quiMm•nl Ihot K¢owls G)v• a truo gnd falr viowwhich l& not 8 matlèr ¢on$id¢rgd 88 p8rt of an lnd•wndI exom+nalk)n. I have no n¢&rS 8nd hove oome across no oltrpr mall•r8 in connècllon wlh the 8X2min•llon to whlch 8ttenUon shoukl bè drawn in th1$ r•wl kn ord•r to 8n*blè 4 prcF8r undor8tsndlng of th• aooounts to bo maohod. lan Ful¢h?r FCA Blackwood Ful¢h•r & Co. ¢hArt8red AGeounlants g St Gatsr9•'s Yard Farnh8m Suirgy GU9 7LW Page 3
The Margaret Klllbery Foundatlon Statement of Financlal Actlvltl•s forthe Year Endtd 31 De¢ember 2024 31.12.24 31.12.23 Total fund$ Unrestricted fund Nolè& INCOME AND ENDOWMENTS FROM and18gatsa$ 2.852 10,S14 Invaskn•nt incom8 15,595 63,083 Totsl 18,447 73,597 EXPENDITURE ON Chatable aGtlvl¢les Ch4rit•bl8 8clivitso6 83.228 82,579 Othér 29,950 49,017 Total 113.176 131.596 N•t oain8 on inv8$tm•nta 228.367 102,270 NET INCOME 133.638 44,271 RECONCILIATION OF FUNDS T¢tal fund8 brought l¢Mard 2,824,463 2,780,192 TOTAL FUNDS CARRIED FORWARD 2,958,101 2,624,483 The notes form part dthese financial statemgnts P8ge 4
Th• Margaret KllbÈry FoundatlDn Balance Shèet 31 December 2024 31.12.24 Unr&Btriel•d fijnd 31.12.23 rot41 lund& Notss FIXED ASSET8 Invothgnts 2,968,326 2,795.577 CURRENT AssEf8 Df blors Cash at bank 3,734 12,281 3.184 28,002 16,015 31,1ee CREDITORS Amount8 falling dug wlthin 000 y (28,2401 12.2801 ET CURRENT A88ETS 110,2251 28,888 TOTAL A88ET8 LESS CURRENT LIABILifiE8 2,958.101 2,824.493 NET AS8ET8 2,958,101 2,824,483 FUNDS Unr88tr1ot•d fvnd8 2,858.101 2,824,483 TOTAL FUND8 2,958,101 2,824,483 The fin•ndo1 $l•tom•nte wer8 Apprt)v•d by the Board of •nd authoriled for l$$u• vn •nd wore 8lgn8d ¢Jn its bohaif by.. R A Davey- Tru8tao The not9$ form part of t80 finoneid statomen18 Page 5
The Margaret Klllbery Founda¢lon Note$ tothe Flnanclal Statements lor the Ytar Ended 31 DeGernber 2024 ACCOUNT1Tr POLICIES a515 of preparfng the financlal statements Thè finanryal stalem8nts of the charity. whlch is a public bgn8fil ontlty under FRS 102. have been pMp•red in a¢cordanc8 wlth Ihe Chariti8s SORP IFRS 1021 'A¢counling snd Rewrtinu by Charili&s'. Statement of Recommended Pr8cIIGe appllc2blg lo charities preparing Iheir Èetounls in gccordBnce with th& Fln4n¢ial Repon9 Standard applicablg in the UK and R8public of Iroland IFRS 102118ffecliv& 1 January 20191.. Finanual R¥porting Slond4rd 102 'The Finantriol Reporting Standard apPIable in tho UK and Rèpubllc of Iralond, and the Charilié8 Act 2011. Tha finanGlal statements hov# bBen Preparéd under the htoriCal cosl conv8nlion. with the exceptn of inve8lm6nl$ whith 8ra indwJ8d at market valuo, os modified by thè revaluation of rtaIn assets. The fand81 &latements have bEen pigp8r8d under golng concam ba818. Income AW incom6 Is rÈeogni¥ed in th• Statement of Fin•1 A¢tDilti88 on¢0 Ihe charity h1 •nbllgmont t¢ tho funds. 51 probgb18 that th8 in¢om& wlll be r9¢9ived gnd the amount ¢in be m88ur8d réliably. Tax re¢lalm8ble on dongll¢n8 Is h¢ludod In thè ffnanclal 8talamant8 Mt tho sam¢ 4E the donation t¢ whl¢h they r01at. Expendltur• Liabllilles are r•cogni88d a8 •xpendliur8 8$ ?n 88 Ihorts18 a lagal Or ¢onBtrudv• 019411¢m commltlng th• ch&rfty tg that exp8ndttur¢. 11 1$ probwblo that a Irn•f•r ol 8c4nomlc bèntsfits NTII bé requir•d In 8otUem•nl and th¢ amount of the obligation can be m88Buf8d rèli4bly. Exp8ndilur4 IB accounted for on qn 8ooruo18 b•sla gnd has been da881rd und&r hoidlngs that aggmg&te all 0081 ralalèd lo thè ¢Hlegory. Whero ¢¢$16 cannot ba dlr•Gtly altdbutsd lo porti¢ul4r heading8 Ihey h8ve be$n allocated tg OCtivi1188 ¢)n * bAsiB con$i$l•nl wlth the u8a of re8our¢o•. Gr8nt8 off8rad &ublect to condillon$ whlch hw• nol b8an m•1 41 the yeAr ONI d1• ar• noted 08 2 ¢0mmKm•nt bul oc¢ru•d • •xpendilur8. Taxatlon Th• ¢harlty {• •x•mpt from lox on 11$ Charllabla AvItI•l. Fund 4¢countlng Unre$trlct•d fund• ean b8 uB8d In wHh th¢ chadtabla obloctlv88 al th¢ dl•cretton of thg tru$tO98. Re9tri¢tod funds can only b• u$ed for particular ra&lrlct8d purpoB85 withln th• obj8ct8 of th• ch8rlty. RtrilOn ari80 when speciflèd by thè domr or when fuNJ$ ar¢ rgi50d for pgrtkular r•$t#¢led purposas. FLwthar 0xpl•naon of nature •nd purposèef èich fund la In¢luded In tho TrDf•$ to the fln•n¢i#l Slatom8nlB. Hlre pur¢hast and ItR51ng cornml¢ments Rantols pald under ¢peralng 18288$ •r ¢harggd to the St8t8wnt of Fln8ncial Activit$ on a 6tr•ighl Ilne b8Si8 over th• p¢hod of Ihg18as8. Investments Inve51ment8 are statèd at quoted market valu• It th• balanGe sheet dalè, 1¢$$ any provision lor ImpAIrmt. All inv¢$lments are quotod on racogtrlzad 8ts¢k eXchQ@s. ReAlls¢d &nd and uTrre81i88d gèln% or Io$Ms aT8 Shown in the 8lal&m8nt of finOrtl activiti80. P499 6 ¢ontinued...
The M2rgaret Klllbery Foundatlon Nofes to the Flnanclal 8tatèments-¢ontlnued for the Year 31 December 2024 INVE8TMENT INCOME 31.12.24 31.12.23 Exthange rale gain8 Usted investment income 11,587 51,4e6 15.59S 15,585 83,083 TRUSTEES. REMUNERATION AND BENEFITS Thero were no trustè•$' r•mun8ralion or otr benefits for year end&J 31 D•¢ernber 2024 nor lor tho year onded 31 Decemb8r 2023. Truste05' expen8eg Th&M w•ra no Iru•tges' oxpèn8•s pald ftsr Ih? yeAr •nd8d 31 Doc8mb•r 2024 nor hr tho ar ?nd•d 31 00c8mr 2023. COMPARATNE8 FOR THE 8TATEMENT OF FINANCJAL ACTIVITIES Unrn8triclod fund INCOMEANDENDOWMENTS FROM Don£tnI 8nd Iwd 10,514 Invnent lthettmq e3.083 Total 73.597 EXPENDITURE ON Charltabl• actlvltles ChHritqble 82.579 Olhar 49,017 Total 131,596 Nat goln$ on hvollmonts 102,270 NET INCOME 44,271 RECONCILIATION OF FUNDS Tclal funds brought 10Thrd 2.780,192 TOTAL FUNDS CARRIED FORWARD 2,824,483 Page 7 ntinued... riAT
The MargaTet Klllbery Foundatlon Note3 to thè Financlal Statements. contlnued for the Year Ended 31 December2024 FIXED A8SET INVESTMENTS C95h and ¥8tUement$ ponding Listad inveEtm•nts Totals MARKEY VALUE At 1 January 2024 Addititsns Di5P05a R8v8luationB 2.675,986 1.108,1es 11,044,222) 228,3e7 119,591 2,7g5,577 1,108.195 11,183.8131 228,3e7 1119,5911 At 31 Dacombpr 2024 2.988,326 2,968,328 NET BOOK VALUE At 3108c8mb•r 2024 2,988.32e 2,968,328 At 31 Docgmber 2023 2.87S,988 119.591 2.795,577 Th•r• wèr• Th) Inv8slm?nt asuets outslde the UK. Cost or valuation at 31 D8C8mb•r202418 ropr•$•nt$d by., Llstod i)V•Blmenta Vlluqbon in 2020 V8lualion In 2021 Valuation In 2022 Valuah'on In 2023 V•luats'on in 2024 Co8t 78.178 82,282 1224.0181 15E,S35 8.367 2.646.6D2 2,968,326 If fixed a1 inv86tmenl• had n¢1 b••n rev81ued th•Yw0d hava b8en IlUdd at the frjlbwing hlloricd cost.. 31.12.24 31.12.23 Cpst 2,046,602 258,e29 Fix9d asset Inv88tm•nl& w•r• vabJ•d on gn op¢n mark8t ba81& b•si¥ on 31 D•c•mb•r 2024 by Rolhhlld & C Wealth M4naooment. DEBTORS: AMOUNTS FALLING I)UE WJTHIN ONE YEAR 31.12.24 31.12.23 Olhordablor8 3,734 3,1e4 Pao8 8 tryntinuod...
The Margaret Klllbery Foundatlon Not¢5 to the Flnanelal Statements-contlnued for the Year Ended 31 tltcember 2024 CREDITORS.. AMOUNT8 FALUNG DUE WITHIN ONE YEAR 31.12.24 31.12.23 Qthgr credito 28.240 2,280 MOVEMENT IN FUNDS Net rncv8menl in fund At 31.12.24 At 1.1.24 Unrnstrlcted funds Q8nerg1 fvnd 2,824.463 133,638 2,gs8,101 TOTAL FUND8 2,824.463 133,638 2.858.101 Nal mv8m•nt in fijnds. Indud•d In the obovo are 0$ follo.. Inoomlng r•$¢urce5 R•s¢urceB xp•nd8d Gsln$ 8nd 108s88 Mcvomant in lund$ Unr05trf¢ted fvnd$ G•neral fund 18,447 1113,1781 228,387 133.e38 TOTAL FUND8 18,447 1113,17ei 228.387 133,838 ComparatIv ft+r mov9mont In fvnd$ movemant in fund¥ Al 31.12.23 At1.1.23 Unr•atrlctea funds G6n•ral fund 2,780,192 44.271 2,e24.463 TOTAL FUNOS 2,780,192 44,271 2,824,4e3 Comparatlve not mov•rn•nt In fuThd8, In¢lUd in the Above am a6 fol0.. Incoming ro&our¢88 Rèsoiirc •xpgndod Goin$ and 10$¥•9 Movem*nt In fund$ Unr•strlcted funds Genergl fund n,597 1131,5961 102,270 44.271 TOTAL FUNDS 73,597 1131,5961 102,270 44,271 Pago 9
The Margargt Klllbpry Foundatlon Notes to the Flnanclal Statements-contlThJÈd fwthe Year Ended 31 December 2024 MOVEMENT IN FUNDS- conllnued A curront year 12 m¢nths 8nd pdttryw 12 conY)Ined posltion a8 fdlow8'. Net rn¢vom8nl In fvnd$ At 31.12.24 At1.1.23 Unr•strtGted fund$ General fund 2.780,192 177,909 2,958,101 TOTAL FUNDS 2.780,192 177,909 2,958.101 A curr•nt yeAr 12 rnonih8 and PriDr year 12 nb)nlhs comned nat movement h fund8. thduded In ibov8 gr• followa.. Incomlng re8our¢e Rwurc gxponded Gains and 1088•$ M¢v•Mgnt In lund6 UnM5trlcted lunda GenOr fvnd 92.044 1244,7721 330,e37 177,909 TOTAL FUND8 92,044 1244.7721 330,637 177.909 RELATED PARTY DI$¢L08URe8 During the ygar undw raaW the Charty donatbn$ of £2.282 12023 £8.4111 from Rlch8rd D•v•y. Trust••. Page10
The MaTgarnt Illllbery Foundatlon Detalled Statement of Flnanclal Actlvltles for th Year Ended 31 DeGember2024 31.12.24 31.12.22 INCOME AND ENDOWMENTS Donatlons and lagactes Donallans 2.282 570 8.4fj1 2.103 2.852 10,514 Inve5tm•M Inoome Exchange rate gain5 Listed invostm¢nl income 11,587 51,498 15,695 15,595 63,083 Tot41 In¢omlng r•our¢•s 18.447 73,597 EXPENOITURE Charltabl• aGtlvltles Orants 1¢ inslltutioni 83.226 82,579 Support oolts Gov•man¢• CQBt8 Rant Rale$ W•b¥ite Bank ¢harg0s Aceaunlancy Invè$lmant manogement f889 Exchqng• rgle IoBb88 23,900 2,147 245 35 2.242 897 584 24,111 2,278 236 2,280 20,029 29,950 49,017 Totil resour¢•* •xponded 113,776 131.596 Net expondlture beforn omlns and losses 194,7291 157,9991 Rea118ed ro¢ognlsed gain¥ and 1055es Inve&tm•ThtB 228.367 102,270 Net Ineom• 133,638 44,271 Thrs pago does form part of Ihtr StatOrynaTrIa1 statements Pagg11