REGISTERED COMPANY NUMBER: 13451192 (England and Wales) REGISTERED CHARITY NUMBER: 1197803
The Nick Kilhams Foundation (A Company Limited by Guarantee)
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30th June 2024
The Nick Kilhams Foundation
Contents of the Financial Statements for the Year Ended 30th June 2024
| Page | ||
|---|---|---|
| Report of the Trustees | 1 to | 3 |
| Independent Examiner's Report | 4 | |
| Statement of Financial Activities | 5 | |
| Statement of Financial Position | 6 | |
| Notes to the Financial Statements | 7 to | 10 |
| Detailed Statement of Financial Activities | 11 |
The Nick Kilhams Foundation
Report of the Trustees for the Year Ended 30th June 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30th June 2024. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).
Objectives and activities
Objectives and aims
The Nick Kilhams Foundation exists for the preservation and protection of good mental health and relief of need for the public benefit and with a focus on the workplace environment of the London (re)insurance market by:
- Raising awareness of mental health issues.
- Working to provide opportunities for early support for those affected by suicidal thoughts and incidents of suicide via open and honest dialogue working with charities and other organisations to provide help to those affected by suicidal thoughts and to provide support to families bereaved by suicide.
The foundation aims to provide education, research, and fundraising to:
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Support access to emergency interventions for members of the London insurance market.
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Improve general mental health in the Lloyd's / London market.
Significant activities
It has been another busy year and we are thrilled with the money we have raised and the causes we have been able to support.
The many companies and services that span the London Insurance Market and in particular the political risk and credit market have continued to show wonderful generosity, and with their help the NKF has raised just under £250,000 in the reporting period. Our sincere thanks to all those individuals and corporations that have supported us. In turn, we have been able to deliver the following:
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Repeated the annual memorial lecture at Lloyd's and fund raising lunch at The Savoy. Both were sold out. - Provide 3 donations to James' Place totalling £120,000 helping with emergency interventions for suicidal patients
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Continued support to Ripple for their intervention of online harmful searches
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Identified 2 new charities: The Listening Place and Suicide&Co and supported them with donations of
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£140,000 and £30,000 respectively
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The Nick Kilhams Carol Concert at St Michael's Church took place in Dec '23
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Instigated Self Space support sessions
Public benefit
It is confirmed that the trustees have had regard to the Charity Commission's guidance on public benefit and the only objects for which the Charity was established are for the public benefit.
Grantmaking
The Nick Kilhams Foundation is focussed on fundraising in order to pay grants to professional service providers (primarily those providing emergency counter-suicide interventions) to benefit our key audience; practitioners in the Lloyd's / London market.
Volunteers
The Nick Kilhams Foundation Board of Trustees and Committee members are all volunteers.
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The Nick Kilhams Foundation
Report of the Trustees for the Year Ended 30th June 2024
Achievement and performance Charitable activities
During the reporting period, the NKF has:
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Maintained a Board of 8 Trustees, with 2 resignations and 2 new appointments.
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Raised £240,141 for charity.
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Paid grants of £292,200 to support charities that operate in our space and meet our criteria.
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Increased awareness through a number of events.
The NKF has regular dialogue with our partner charities, and while it is difficult to track the precise impact of our fundraising efforts, it's quite clear that we make a significant impact at each. This year we expanded our partner charities to include The Listening Place and Suicide&Co. We were very pleased to meet them and believe they are a good fit for the NKF.
Increasingly the NKF is being adopted as Charity of the Year (COTY) for a number of companies operating in / around the London Insurance Market. This is a new development and we must ensure we have the resources to "pitch" for these when invited to do so.
Financial review
Financial position
The charity's statement of financial position is as set on page 6. The Charity showed a net decrease in funds of £69,687 (2023 - Increase £39,755). The funds of the charity are in surplus by £56,276 (2023 - £125,963). The funds held will be used to continue the charity into the future.
Principal funding sources
The charity's principal sources of funds are from donations from corporate sponsors and private individuals.
Investment policy and objectives
Our policy is to retain any reserves in a deposit account with minimal risk.
Reserves policy
The NKF will often seek to offer long term unrestricted funding to our charity partners. Where commitments have been made in this regard, adequate provision has been made to accommodate.
Going concern
The Nick Kilhams Foundation is entirely dependent on the success of fundraising activities. In the event that that foundation is unable to raise funds, the foundation would be obliged to reduce/cancel commitments to partner organisations and ultimately would discontinue.
Future plans
The Trustees periodically review the purpose and relevance of The NKF including our ability to continue to raise appropriate funding. For now the Trustees are happy we continue.
Structure, governance and management Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Charity constitution
The Nick Kilhams Foundation is a company limited by guarantee, incorporated on 11th June 2021, as a Charitable Company (Company Number: 13451192).
Recruitment and appointment of new trustees
The Trustees continue to number 8. Each give up their time to support the NKF voluntarily. There have been 2 resignations and 2 new appointments in this reporting period. The Trustees believe it is appropriate to rotate and allow others to bring new ideas and energy to the Board.
Organisational structure
The charity is entirely managed by the Board of Trustees.
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The Nick Kilhams Foundation
Report of the Trustees for the Year Ended 30th June 2024
Structure, governance and management Key management remuneration
The Nick Kilhams Foundation has no employees or executive directors. No remuneration, costs or expenses of any kind are paid to Trustees.
Reference and administrative details Registered Company number
13451192 (England and Wales)
Registered Charity number
1197803
Registered office
4th Floor 100 Fenchurch Street London EC3M 5JD
Trustees
Mr. M R D Reith Director Mr D M Powell Director Mr T J Bradford Director Mr A Lennard Director (resigned 1/1/2025) Mrs C A Kilhams Director Mr N A Edwards Director (resigned 3/4/2024) Mr D R Evans Director (resigned 3/4/2024) Mr P S H Graham Director (resigned 1/1/2025) Mrs L A Hovey Director (appointed 3/4/2024) Ms K J Beechey Director (appointed 3/4/2024) Mr J W Esdaile (appointed 1/1/2025) Mr P N Sprent (appointed 1/1/2025)
Independent Examiner
David Hatchard BA FCA Nigel Wilson & Co 4th Floor 100 Fenchurch Street London EC3M 5JD
Approved by order of the board of trustees on 23rd April 2025 and signed on its behalf by:
Mr. M R D Reith - Trustee
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Independent Examiner's Report to the Trustees of The Nick Kilhams Foundation
Independent examiner's report to the trustees of The Nick Kilhams Foundation ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30th June 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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 understanding of the accounts to be reached.
David Hatchard BA FCA
Nigel Wilson & Co 4th Floor 100 Fenchurch Street London EC3M 5JD
23rd April 2025
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The Nick Kilhams Foundation
Statement of Financial Activities for the Year Ended 30th June 2024
| 2024 Unrestricted fund Notes £ Income and endowments from Donations and legacies 239,036 Investment income 2 1,105 Total 240,141 Expenditure on Raising funds 3 13,295 Other 296,533 Total 309,828 NET INCOME/(EXPENDITURE) (69,687) Reconciliation of funds Total funds brought forward 125,963 Total funds carried forward 56,276 |
2023 Total funds £ 135,243 185 135,428 11,125 84,548 95,673 39,755 86,208 125,963 |
|---|---|
The notes form part of these financial statements
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The Nick Kilhams Foundation
Statement of Financial Position 30th June 2024
| 2024 Unrestricted fund Notes £ Current assets Debtors 7 2,855 Cash at bank 55,735 58,590 Creditors Amounts falling due within one year 8 (360) Net current assets 58,230 Total assets less current liabilities 58,230 Accruals and deferred income 9 (1,954) NET ASSETS 56,276 Funds 10 Unrestricted funds 56,276 Total funds 56,276 |
2023 Total funds £ 1,840 127,929 129,769 (360) 129,409 129,409 (3,446) 125,963 125,963 125,963 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 23rd April 2025 and were signed on its behalf by:
Mr. M R D Reith - Trustee
The notes form part of these financial statements
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The Nick Kilhams Foundation
Notes to the Financial Statements for the Year Ended 30th June 2024
1. Accounting policies
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. Investment income
| Investment income | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Deposit account interest | 1,105 | 185 |
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The Nick Kilhams Foundation
Notes to the Financial Statements - continued for the Year Ended 30th June 2024
3. Raising funds
Raising donations and legacies
| Support costs Net income/(expenditure) Net income/(expenditure) is stated after charging/(crediting): Other assurance services |
2024 £ 20 2024 £ 420 |
2023 £ 198 2023 £ 420 |
|---|---|---|
4. Net income/(expenditure)
5. Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the year ended 30th June 2024 nor for the year ended 30th June 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30th June 2024 nor for the year ended 30th June 2023.
6. Comparatives for the statement of financial activities
| Income and endowments from | Unrestricted fund £ |
|---|---|
| Donations and legacies | 135,243 |
| Investment income | 185 |
| Total | 135,428 |
| Expenditure on | |
| Raising funds | 11,125 |
| Other | 84,548 |
| Total | 95,673 |
| NET INCOME | 39,755 |
| Reconciliation of funds | |
| Total funds brought forward | 86,208 |
| Total funds carried forward | 125,963 |
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The Nick Kilhams Foundation
Notes to the Financial Statements - continued for the Year Ended 30th June 2024
| 7. Debtors: amounts falling due within one year Other debtors 8. Creditors: amounts falling due within one year Trade creditors 9. Accruals and deferred income Accruals and deferred income 10. Movement in funds Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
At 1/7/23 £ 125,963 125,963 Incoming resources £ 240,141 240,141 At 1/7/22 £ 86,208 86,208 |
2024 2023 £ £ 2,855 1,840 2024 2023 £ £ 360 360 2024 2023 £ £ 1,954 3,446 Net movement At in funds 30/6/24 £ £ (69,687) 56,276 (69,687) 56,276 Resources Movement expended in funds £ £ (309,828) (69,687) (309,828) (69,687) Net movement At in funds 30/6/23 £ £ 39,755 125,963 39,755 125,963 |
|---|---|---|
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The Nick Kilhams Foundation
Notes to the Financial Statements - continued for the Year Ended 30th June 2024
10. Movement in funds - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 135,428 135,428 |
Resources Movement expended in funds £ £ (95,673) 39,755 (95,673) 39,755 |
|---|---|---|
11. Related party disclosures
There were no related party transactions for the year ended 30th June 2024.
12. Limited by guarantee
The Nick Kilhams Foundation is a company limited by guarantee and accordingly does not have a share capital.
Every member of the company undertakes to contribute such an amount as may be required not exceeding £1 to the assets of the charitable company in the event of the company being wound up while he or she was a member, or within one year after he or she ceases to be a member.
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The Nick Kilhams Foundation
| Detailed Statement of Financial Activities for the Year Ended 30th June 2024 Income and endowments Donations and legacies Donations Investment income Deposit account interest Total incoming resources Expenditure Other trading activities Purchases Other Donations Support costs Finance Bank charges Governance costs Auditors' remuneration for non audit work Sundries Accountancy and legal fees Total resources expended Net (expenditure)/income |
2024 £ 239,036 1,105 240,141 13,275 294,469 130 420 34 1,500 1,954 309,828 (69,687) |
2023 £ 135,243 185 135,428 10,927 82,255 198 420 373 1,500 2,293 95,673 39,755 |
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This page does not form part of the statutory financial statements
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