THE KM FOUNDATION CHARITY NUMBER 1189487 TRUSTEES, ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 PSG Bowdens A(roJrfoDLs Ad￿￿￿5 THE KM FOUNDATION Charity Number 1189487 Year ended 31 March 2024 Index Pagos Trusl88s and Advisers Trustees. Annual Report >5 statement of Financial Activiti8S Balance She8t Notes to the Accounts Indep8ndent Examinerfs Report Page 1 THE KM FOUNDATION Charlty NuM￿r 1189487 Year ended 31 March 2024 Trustees and Advisers TRUSTEES: Mr Kumar Muthalagappan Mrs Kannahi Muthalagappan Mr Devavrdtha Muthalagappan Miss Seetha Muthalagappan Mr Paul Taylor Mr Subramaniyan Meyyappan SECRETARY: P A Taylor FFA, FTA, FPFS OFFICE: Unit 14 Craycombe Fami Evesham Road Fladbury Worcestershirg WR10 2QS INDEPENDENT EXAMINER: G Getting FCA FFA PSG B¢)wdens LLP Unit 14 Craycomb8 Fami Evesham Road Fladbury Worcestershire WR10 2QS BANKERS: Bardays Bank Pl¢ Floor 6. One Snowhill Snow Hill Queensway Bimingham B4 6GN INVESTMENT MANAGERS: Barclays Wealth Manag8m6nt Floor 6. One Snowhill Snow Hill Queensway Birmingham B4 6GN Page 2 THE KM FOUNDATION Charity Number 1189487 Year ended 31 March 2024 Trustees, Annual Report The Trustees present their report and accounts for the year ended 31si March 2024. The accounts comply with current statutory requirements and the Statement of Recommended Practice 'Accounting and Reporting by Charities.. The Charitable Incorporated Organisalion {CIO}, called The KM Foundation (1189487) was registered with the Charities Commission on 14th May 2020. Trusteès The Tnjstees In offlce durlng the flnand81 year and at the date of the report are recorded on p8g8 2. ObJectlves and Actfvltles The Trust was founded to make charitable donatb)ns for the public benefrt that are exclusively charitable aCC￿)rding to the law8 of England and Wales as the charty trustees may from time to time determine. Publlc Benefit Th8 Trustees confim) that they have complied with the duty in Sect￿)n 17(51 of the 2011 Charities Act to have due regard to guidance Issued by the Charfty Commisslon on publlc benefft when deciding on the charity's activities. AChIev￿nent and Porformanc• The Twstees have now shortlisled a number of possible charities and worthy causes that would ban8frt from grants. Due dilig6n￿ enquires have been made. Due to illness amongst the prinapal trustees and personal issues the pnjcess has been slow. However, the trustees anticipate making grants in 2025. Financial Review In the absence of any immediate grants being rnade, funds received have been invested pending establishing appropriate opportuntties to make grants and support work done in line with the objectives of the charity. Rosorve Policy It is th8 intention of th& trustses to establish suitable projects to support with grants on a regular basis and it is therefore wnsidered important to retain a reasonable level of reserves. On establishing a project suStable for support. where thls may extend over several years. a reserve requirement will be estsblished on a project-by-project basis. Investment Polley The KM Foundatlon has no restrlcted funds, and a total relum approach is us8d for th8 management of the investment porttolio. Barclays Wealth Management have been appointed as investment managets during the financial year and they provlde quarterly updates and an annual report for the trustees lo revlew at t￿ annual Page 3 THE KM FOUNDATION Charity Number 1189487 Year ended 31 March 2024 Tru$t996' Annual Roport (continued) Irustee meeting. Th8 appointment as investment managers will be reviewèd annually at the trustee meeting. All inGome is gener8t8d from assets which are unrestricted. Grant Making Policy The trustees will meet twice a year to review th& financial perfornianc6 of the trust and conslder requests for 9rants. st4t•mont of Tru8tees' Responsibllltlos The Trustees are responsible for preparing the Trustees, Annual Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Acc8pted Accounting Pr8Ctice). The law applicable to charitles In England and Wales requires the Trustees to prepare accounts for each financial year which give a true and fair view of the stste of affairs of the Charity and of the incoming r8sources and application of resources of the Charlty for that period. In preparing these a¢¢ounts. the TNstees are r8quired to.. select suitable accounting policies and than apply them consisiently: observe the m6thods and principles in the Ch8ritie$ SORP., make judgements and estlmales that are reasonable and prudent: state whether applicable accounting standards have been followed. subjéct to any material departures disclosed and explained in the financial statements: prepare the accounts on the going concem basls unless it is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping proper accounting records thal disclose with reasonable a¢cura¢y at any time lh8 financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charlty (Accounts and Reports) Regulations 2008. The Trustees are also responsible for safeguarding th8 assets of the Charlty and hence tsking reasonable steps for the prevention and detection of fraud and other irregularities. Governanca of the Charity The Trust holds a General Meeting on an annual basis, at which the Trustees are elected. In addition, the meeting considers the acGounts for the preceding year and considers the Trustees, Report on the activities during tt)8 yèar. The Trustees also meet during the year to consid9r and authorise operational and strategic matters. Page 4 THE KM FOUNDATION Charity Number 1189487 Year ended 31 March 2024 By order of the Trustees: P Taylor: as Trustee. Dated: ¥ l* 24¥ Page 5 THE KM FOUNDATION Charity Number 1189487 Year ended 31 March 2024 Statement of Flnancial ActlvStlo8 Unrestrirted Total 2024 Unrestricted Total 2023 Income: Donations Gift Ald Dividend5 received 10).cx)) 25.C 6,419 131,419 5,029 5,029 Inte￿$t Totsl 131.419 5,029 Expendlture: Management fees Professional Fees Accountancy Totsl 4.(Y32 2.377 iO.C69 NET INCThMV(EXPENDITURE) 12L350 14970) Net 8alns/{losses) on investment assets sted investrnent5 Reallsed - Unrealised 51.010 51.010 {20,6131 {20,613) Net rnovement in funds 172.359 {25.5831 Total funds brought forward Total funds carried fO￿lard 436.353 608.712 461,936 436,353 Page 6 THE KM FOUNDATION Charity Number 1189487 Year ended 31 March 2024 Balanco Sheet Unrestricted 2024 Unrestricted 2023 Note Investments Portfolio- Barday5 478.731 478,731 427.721 427.721 Current Assets Bank Account 137,619 137.619 16,792 Current liabilitie5 A￿rual5 and deferred income 7,638 8.1 7,638 8,IfJ) Total net assets ,712 436,353 Represented by Funds fiB,712 436.353 Approved by th8 Trustees and signed on their behalf by." P Taylor: Dated: 30 Page 7 THE KM FOUNDATION Charity Number 1189487 Ygar ended 31 March 2024 Note8 to tho Account8: Bas18 of Prnparation The KM Foundation meets the d8finition of a public beneflt 8ntlty urKler FRS 102. These accounts have been prepar8d in accordance wlth Accounting and Reporting by Charltles: Statement of Recommended Practice. applicab￿ to charitbes preparing their accounts in accordance with the Financial Reporting Standard applirable in th8 UK and Republic of Ireland (FRS 102), and the Charities Act 2011. The financial staternents are prepared on a going concern basis under th8 historical cost convention. unless otherwise stated in the relevant accounting policy note. The financial statements are pr8sent8d in sterling, which 1$ the functional currency of th8 charity. 2. Accountlng Pollclo8 All in¢ome is credited to fvnds of the Trust in the year in which il is receivable. All éxpenditure is recognised as soon as there is a legal or ¢onstructive obligation cornmitting the charity to pay out resources and are directty attributed to one of the functional categories of r8sources expended. The Trust is not registered for value added tsx. and 80 all such lax pabj is charged to the statement of financial activities. as part of the expenditure to which it relates. Unrestricted funds comprise accumulated surpluses on the general funds and ar8 8V8il8ble to use at the discretlon of the Trustees in furtheran¢e of the general charitable objectives. Listed investments are stated at market value. increasel(decrease) on revaluations are tranSf￿red tol(from) the Stat8ment of Financial Activities. 3. Donations Donations from Mr Kumar Muthalagappan.. 2024 2023 Cash Gift aid 100,000 25,000 4. Trustees, remuneratlon, bongfits and gxpenses No trustees received any remunerallon or other benefits or expenses for the year ended 31S1 March 2024 or year eThJed 31" March 2023. 6. Control The charity is under control of its trustees. Page 8 THE KM FOUNDATION Charity Number 1189487 Year ended 31 March 2024 Listed Invostmonts vookV¥¥• pawk•t v*lu• • 31st 0 3X* Morth Aoththjrd Addll Mwth?QZJ ZOU 50.500 34,981 so￿00 51NOI so￿00 45.166 505tsJ 51.748 251375 244.425 Tot¥ Qu*tlty &)*kV￿￿ @ M¥k•t v*l¥• tk103X • Yist Mirth Mirth Z014 ZQ24 32,312 37.731 1,361 61A50 6,985 47,779 15hlO 52,290 9,433 279,082 1014 50,5fyJ 505 505 50500 251,975 luplter In￿￿￿lmana&•￿nt 8la¢kRwk61bl Fd Montsr*aro European Smaller C￿9￿1¢$ Funds Barcl¥y5 Mvl¥-Manager&ob¥lkce55 rc L¥x Portfollos 75 427 zi 61 453 75 Page 9 THE KM FOUNDATION Charity Number 1189487 Year ended 31 March 2024 Independent Examiner's Report To the Trustees of The KM Foundation I report on the accounts of the Charity for the year ended 31 March 2024, which a￿ sel out on pages 2to9. Responslbllftlos and basls of report As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities A¢t 2011 ('the AGt'). I report in respect of my examination of the charity accounts carried out under section 145 of the 2011 Act and in carrying out my examination I hav8 followed all the applicable Directions given by the Charty Commission under s8Ction 1495Xb) of the Act. Ind•pendent examinerfs statement I hav8 complgtgd my examination. I confirm that no material matter5 have comg to my attention in connectlon wlth the 8xamination giving me cau8e to believe that in any materlal respect. 1. 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 th¢xe records. or 3. the accounts do not comply with the applir2blg requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulat￿nS 2008 other than any requir&ment that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concems 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 prop8r understanding of the accounls to be reached. Ginette Getting FCA FFA PSG Bowdens LLP Unit 14 Craycombe Fam, Evèsham Road, Fladbury. Worcestershire WR10 2QS Dated. rJq£* Page 10