Kurt Geiger Kindness Foundation (A Charitable Company limited by guarantee) Report a1 Financlal statemts Perd ended 3 Febru8ry 2024 Company Numb8r 13776784 Charity Number 1198460
Kurt Geiger Kindness Foundation Report and flnanelal 8tat8ments for the pèriod ended 3 February 2024 Contènts Page.. Report ol the Trustaès Trusl¢e8' respot)sIbilits in rdallon to the financial statements Independent ex5mine¢s rewl to the Trustee8 of Kurt Geiger Klndne55 Foundation Statement of financlal activities Balance sheet 8.12 Noies IoTffling part of Ihe &'n8n¢i8181alemenls
Kurt Geiger Kindness Foundation Report of the Trustees for thè perlod ended 3 February 2024 The trustees are plea$$d lo present their annual trusteès, report together with the finanual statements ol the aritable company for the period ended 3 February 2024 whi¢h are also prepared to rne61 the requiremenls for a dSrectors' report and accounts for Companies Aol purp0888. The flnanci81 statements compty wilh the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and the charities S181am¢nl tsf Recommended Practice (applicable to charities preparing their accounts in accordan with Flnancial Rep(ling Standgrd applicable in the UK and Republic of Ireland: FRS 1021 leffective 1 January 20191 Issued in October 2019. Incorporatlon The charity wa8 incorporated on 1 Decembèr 2021 and was active from this dale onwards. Our purposes and a¢tlvltles The purpose of the charity is lo provide èquitable acSS to the crealnie Industry to yOg pèople from under- represented backgrounds. Thè strategies employed lo 8chleve the charity's aims and objectFves are ta provlde and assist in the prowsion ol money, malerlals, or other help lo further the mission lo provide equitable aCsS to the uealive Industry to young peoplè from marginalised ba¢kgrounds. Flnanclal revlew The charity received donations totslling £737k12023'. £347kl from Kurt Geiger Limited, Its P8rent company. The L*81ily distributed funds lolalling £185k12023'. £165kl in the period lo d&gi9nal8d psrtners in line with the charity's objectives. As part of the charity'$ missn lo Inspire and drivè ConfenCe in young people from under-represented bBckgrounds the tharity launched a free learning pmgramme, Business by Design Academy. Tho 7-month learning programme offers game-changlng skills with unbeatable èxposure to the creative industry trom Design, BuyirEg, Marketing, Digital, Sale5. Flnance, Merchandislng and Soclal Media with masterdasses, paid work gxperience and mentoring from prole88ion81s. Further infomatlon in respecl of th6 Business by Design Acadamy and designated p8rtners may be obtained at hltps.'II.kurtg8198r,¢OrnJkUrt-Ye1er-kIndness-fOUdt10n. Plans for futurè perlods The plan lor fijlure p8ri0dg Is lo continuo investment in the Business by Design Academy. lo be ablé to increase the nLfmber ol participanls in the schème Mithin the phys81 academy in London, aa well as providing 811 the available resources to young people digitalty. Thi$wll be In addition to expanding ourfoolprinl by ILlrthersupporting grassrool organi8alions and charities in the UK and beyond, via grants. Reservos pollcy Unrestricted funds are the 'lree Te$ervè8' after allowing for all designated funds. Designated fuTrJs at the perd- end tolalling £285k12023'. £94kl are lor the Busine88 by Deslgn Academy. Free reserves at the period-end are £nll 12023.. £nill. Reference and admlnlstratlve detalls Charlty number 1198460 Company numb&Y 13776784 Regl8tered offlce 24 Britton Street. London, EC1M SUA
Kurt Geiger Kindness Foundation Report ofth6 Trustee8 for the perlod ended 3 February 2024 Icontlnuedl Our advisers Independent examlnèr Grant Thtsrnton UK LLP 30 Flnsbury Square, London, EC2A IAG Banke Busine88 revlew Lloyds Bank PLC, PO Box 17328, 11-15 Monument Street. London. EC3V 9JA Solleltors l.G Advisors Unil 12.102. The Leather Market, London, SE13ER Bates Wells and Brailhwaite LLP. 10 atseen Sl Pl, London EC4R 1BE Trustegs The diredors of the charitaua company (the diarltyl are its trustees for the purpose of charity law. The truÈlees and officers setmno during the pwlod and since the perlod 8nd were as follows.. DlrectOTS N C Clifford D N Chrislilaw R E A Fr8r-Hockley P Montaner B Hag8n$ J O A Emmanuel structure, Govemance and Management Governlng Document Kurt GewJer Kindness Foundation Is a company limitèd by guarantee govem8d by its Memoffjndum and Artid6s of Assoclalion dated 10ec6mber 2021. It Is registered as a eh81ily with the Charity Commission. Kurt Geiger Limited is the solè guarantw and has guaranteed to contribute £1 in the ev6nl ol the charfty winding up. Th6 T¥uslees confimi that they have referred to the guidance contained ltt the Charity Cornmi85ion's general guidance on public benefit wh&n reviemring the Charity's aims and objectives and in planning luture activltie8. Appolniment of trustees As set 01 in the Memorandum ol ASSlatIOn ol the Kurt Gelg8r Klndness Foundation, the (Air of the Iruslees is nominated by KLSrt Gelger Kindness Foundation. Subject to Arlde 24, any person who is willing to as a Trustee, and who would not be di8qualifi.ed from acting under the probislons of Arlide 26, may be aptx)inted to be a Trustee l)y the Momber lacling through an authorisad represent8tiv81 serving notice in Writing on the Charity. The Member m8y specify terms of office which shall apply lo any such Truste8, but if no term Is specified when a Trustee is appnted. he or she shall remain in Offi Until he or shè ceases lo hdd office in accordance with Artides 25.4 and 26. Th6 Charity shall notify the Member of any forthcoming va¢•ncies in writing at le8sl six months prior lo Ihe Annuzl Retirement M68ting al which the Trusleelsl in quastion are set to retire lo allow sufficient lime for the consideration of new apwintrnenls and reappolntm8nls. Organlsatlon The board of Iru8lee8 administer5 the charity. The board normally tneots biHmonthty covering develwmonl, membership, finance, and grants. An Executlve Director is appointed by the trustees lo overse8 foundation aotivilies and a foundallon officerls aPpnted lo execut8 the day4fyday operations ol the charlty.
Kurt Geiger Kindness Foundation Rèport of the TTilStee5 for the perltsd ended 3 February 2024 IcontIndI Related partiès and co.operdtlon vmth other organlsatlons Nc)ne ofour trustees rec6ive remuneration or otherbenefit frorn Iheirwork with the diarity. Any cimnection between a tmstee or senior manager ol Ihe charity with any fashion brand and mod81s must be disclosed to the full board of trustees in the same way as any other conlraclual relationshlp with a Telated party. The charitable company recesves donèlions Irc Kurt Geioer Limited, its guarantor and parent company. All adminisiratlve cosls are borne by Kurt Geiger knmlted. Employees ol Kurt Geiger Limited volunteered during the pericKI, the trustees consider the employees as general volunteers and have nol provided any assistance which 18 rdated lo thelr trade or wole88ion. The role ol volunteering consisted prfmBrily of assisltng at dessgnated partner events. Our approach to lundralslng actlvltl&s The charilable company does t1 actlvely fundraisè from ihe public or run legacy campaigns or undertake similar fundraising activities in ils own right or vi8 8 trading subsidiary or third party and the trustees hav6 no plans lo acllvety fUndrse from the public in the fofeseeable futu. The tharitable company is reliant on donauons from its Parent company, lch is funded Ihiwgh Kurt Geiger purchases, Kurt Geiger Limited donates at least £1 for every eligible onllne and inHslore purchase.
Kurt Geiger Kindness Foundation Trustee8' re8ponslbllltle8 In respect of the port and the flnanclal ¥tstements For the perlod ended 3 February 2024 The trustees (who are also direciors of Kurt Geiger Kindness Foundation lor the purpos85 01 Company lawl are respSIble lor yeparing the Trusl8es' Annual Report and the financial statements In accordants 1th applicable law and regulation8. Company law requlres the trustees lo prepare financial statements for each linanaal perd. Undar that law the trustees have 81ecled to prepare the finanaal stalemenls In 8eeordancÈ with United Kingthm G&ner8lly ACpIed Accounting Practice Iunlled Kingdom Accounting Standards arid applicab16 lawl, induding FRS 102 The Fina[la1 Repoiling Siandard applicable in the UK and Republkof Ireland. Undércompany lawlhe trustees mustnol approve the fi'nancial slalements unless they are sa¥sfied that they give a true aThl fair view ol the state of affairs ol the char4table company and of the incoming resources and app]ication ol lesources, IndLKling the Income and extrnditure. ol IhÈ charitable for that period. In preparlng the8e fin8na81 stalemenis, the Iruslees are required io.. select sultable 0ntIng pollcles and then apply them cons15tentty,' observe the methods and prinuple$ in the Charlues SORP IFRS 1021., mske judgments and accounting estimates that are reasonable and prudent., The trustees are re5pon8ible for keep[ adequate 8¢¢ounting records that are sufficnI lo show and explain the charitable eompgny's transBCtitsns and disd05e with reasonable accuracy at any lime the financlal position of tha mpany and enable them lo ensure that the finar)cial statemènts comply with the Companies Act 20(IS. They are also résponsible for safeguarding the assets of the ch8rit8ble company and hence for taking reasonable steps for the prevention and detection of fraud and other irTegularilies. In preparing these financial statements Ihe Trustees have taken advantage of tho small companSes' exemption provided in section 415a ol the Companies Act 2006. 8yor of the Board of Trustees - Ch Tru$tee Date.. 23 October 24
INDEPENDENT EXAMINER'S REPORT TOTHE TRUSTEES OF KURT GEIGER KINDNESS FOUNDATION I report on the accounts ol Kurt Geiger Kindness Foundation for the period ended 3 February 2024, which are $el tonpages6to11. Thls report is made so181y to th8 charitable cornpany's Iruslees, as a bocty. in accordancèwth the regulations rnade det sectiL) 154 01 the CharitS Act 2D11. My w<)rf( has been undertaken so that I rnighl slate lo the charitable company's trustees those matters l am required lo slate lo them in an indepèndent examins report and for no olhei purpose. To the fullest extent rMitted by law, I do not accept or assume resPonbIlltY to anyone other than the charitable company and the charitable (x)mpany's trustees as a body, for my work, for th18 rewrt. or for the opinions I have formed, Respective respon5ibÉlltles of trustees and èxamlner TIE trustees Iwho ar8 a180 the directors of the charitabl8 company for the purpose5 01 company lawl aro responsible lor thè preparatll of the accounts. The charitable company's trustees consider that an audit is not required lor this period (undèr section 144121 of the Charilles Ad 2011 and Part 16 01 Cotnpanies Act 2(K)e and that an independent examination 18 needgdl. The charitable eonpany's gross income exceoded £250,(X)O and I am qualified lo undert8ke the examination by being a qualified member tsf the Institute ol Chartered Accountants in England and Wales. Having sali81i8d myself thal the charitable company is not subiecl lo audit und¥ CDmpany law and 13 eligible for ilependent examination. il is my responsibility to. examine the under section 145 01 Ihts Ch2thes Acl 2011,. lo loll(w the pradureS lakl down the general Directions given by the Charity Commlssion under section 14515llbl ol the Charities Act 2011," 8nd 10 8tst8 vhether particular matters have come to my attention. Basls of Independenl 8xamIn•S statement My examinatlon was carrd out in acc(Ydance wlth the general Direolions 9iven by the Charity Commissk)n. An examination indudes a ¢ompaiison of the accounts with the accounting reoorils kept by the chariiable compsny. 11 also includes consideration ol any unusual items or disclosures in the accounts, and seeking exp1Rnations frc4n you as trust88s concerning any such matters, The procedures undertaken do not provide all the 8vidence that would be required in an audit, and consequenlly no opinlon Is given as to whether the accwnts present a'iru$ and faif vtew and the report 18 limited lo those maiters set out in tho slalemenl below. Indèpendent examinerf8 Statement In conneolion with my examination, no m8tt8r has come lo my attention whleh gives me rea8able o8use to believe that in any maleTial respeeL the requirements.. to keep accountlng records in accordance with section 386 of Companies Act 2006., lo piepgre accounts which accord with the accounting records., to comply with the untIng requirements o18¢Ctior4 396 01 the Cornpanles Act 2( to comply with Ihg Stalement of Recomrnend8d Practice'Ac¢ounling and reporting by Charities.. Statement ol Recommended Practi applicable lo charities preparing thelr accounts in accordance with the Finanaal Reporting Standard applicable in Ihg UK and Republic ol Ireland {FRS 1021 leffective January 201gi' have not be8n met", or lo which, In my opinion, attention should be drawn in order lo enable a proper undeystanding of the ounts lo b¢ reached. Jamès Bird FCA Grant Thornton UK LLP Chartered Accountan London Date.. 23110/2024
Kurt Geiger Kindness Foundation Statement of Flnanclal Actlvltles for the perlod ended 3 February 2024 Note Unrestricted Funds 3 February 2024 Unrestricted Funds 28 Jknuary 2023 £'o(M) £'ooo Incomè.. Don8llolls 737 347 Total Income 737 347 Expendlture.. Charitable 8Ctivitiè8 Oth&r 13971 11491 11651 1881 Total expendltur* 15461 12531 Nét mov8ment In funds for the pertod 191 94 Rèconclllallon of fund$ Total Funds brought forward 94 Total Funds cairfed forwan1 11 285 The slalement ol financial 8Ctivllies includes all 98ins and losses rècognised in tt7e period. Incoming resources and resources exnded are measured under the histor11 cost Ix)nvention. Al 8mounls relate to cgnlinuing activities. The notes on pages 8 10 11 form p8rt of these financlal sl8lemenls.
Kurt Geiger Kindness Foundation Balance sheet As at 3 Fabru8ry 2024 Notè 3 Fèbruary 3 Fèbruary 2024 2024 £'ooo £'ooo 28 January 2023 £'oao 28 January 2023 £'ooo Current assets Debt018 Cash al bank 311 73 40 312 113 Credltor8: amounts falllng due thln one year 10 1271 1191 Total Nat A$$gts 285 The funds of th& chorlty= Unrestricted funds 11 285 Total charlty funds 285 The direc1(S con8ider that the Charitable Cornpany is entitled to exemption from a111 under 479A ol Ihe Companies Act 20C6 and the members have not required the Company to obtain an audit ltsr the period in question in accordance wth seclian 476 ofthe Companies A¢t 20(. The trustees acknowle(lJe their responsibilities for complyir¥J with the requirements of the Companies Act 2006 th re8PO¢t lo accounting records and the weparation ol financial statements. Th8 financial statements have been prepared in accordance wlh the provisions applicable to companies subject lo the small compafiies, glle and in &cccirdan¢e with tho provisions of FRS 102 Section 1A- Sm1 onlilies. The fi "al Stalem Als wer8 approved by ibe Trusloes and aulhorised for185ue 23 October 2024. ilaw Tru8 eè Company number 13776784 The notes on pages 8 to 12 form PArt of these fin8neA81 st8tÈmènts.
Kurt Geiger Kindness Foundation Notes forming part of the flnanclal statèments for the p•rlod ended 3 February 2024 Ac¢ounllng pollcles Basis of preparation The financial slatemÈnl8 have been prepared in accord8nce with the Statement of Reccxnmended Practice.. Accounting and Reporting by Charities ICh8rilies SORP IFRS 10211 and the Financial Reporung Standard 102 Section 1A applicable in the United Kingdorn and Republic ol Ireland IFRS 1021 {effeclive l January 20191 issued in October2019 by the Charily Commission. The charitable company constittJte$ a public benefit enty a8 defined by FRS 102. Going COnM Tha financlal statentS have been prepafed on a going conwn basls. The trustees have review6d circumstan$ of the company and consider that adequate rasources continue lo bts 8vailable to furKI the 8cbvi1S of the company for the foreseeable future. Basic fi'nancsal instruments The company only enleis into basic ftnancial instrument tran88ctions that result In the reo)gnition of financA21 8S88ts and liabilities like trade debtjrs and creditors. Trad8 8nd other deblors are recognised initially al transacllon piice les8 attributable transaOn costs. Trade and other ciedilors are recognised initially at tran88¢1ion price plus attributable Irgnsaction costs. Subseqtjenl to Inltlal reo)gnition they are me98urod al amortised cost using the effective interest method, less any impairment105s85 in the ca8e of trade debttsrs. Income Incoffle is rn[Sed when the charily ha8 8nlltlement to the funds, any performan conditions att8ctrEd to th& itemlsl of Sncorne have been met, it is prob8ble that the IMe will be received and the amount can be measured reliably. The value of any voluntary help reIVed is not induded in tho a¢nIS bLrt is deserlbèd In the Irustee8' report. Expenditure and irrecoverable VAT Expenditure is reeognised once there is a legal or constwcliv9 obligation to make a payment lo a third party, it Is wobable Ihal settlement will be required and the amount of the obligation can be measurèd rellably. Expendire is cla$sifiad under the lollowng aetlwly heings.. Expenditure on Charitable activities Includes the 00s18 of perf(man8, exhibitions and other educational activities undertaken lo fUrtr the purp08es ol the charrty and the assoaaled support ¢o$ls. Olher expendlture represents those items not IAlllng into any other heading. Irrecoverable VAT is Gharged as a cost against the activlly for which the exFendfjlur$ w8$ incurred. Debt5 Trade and other debtors are recognised * the settlement amount due after any trade discount offered. Prepayments are valued at the 8mounl prepaid net of any trade discounts due. Cash at bsnk and hand Cash Al bank End cash in hand includes cash and short twm highly liquid investments th a short maturity ol three months or less frcrfn tho d818 of8cqulsltion or opening ol the deposit or 3irnilar acu)unl.
Kurt Geiger Kindness Foundation Not*$ fomilng Part of tho tlnanclal statements for the period ended 3 February 2024 {contlnuedl Accountlng pollcles Icontlnuedl Creditors and provisions Creditors and provlsions 2re recognlsed Wtte (he charity has a present obligation resulting from a past event thalmrill probably result in the Iiansfe¥ of funds to a third party and the amount due to settle the obligation can bo measured 01 eslimaled ieliably. Creditors and provisions are normally recognised al their settlement amount after alEtsng for any tradè discounls due. Fund accountlng Unreslricled fuNd8 are available lo spend on acllville8 Ihst rurther any tsf the purposes ol charity. DesigT)aled nds 8r8 urwéslrieted funds of the d)8rity which the trustees have decided at their discfotion lo sel aside to use lor a speulic purpose. Legal status of the charlty Th6 Charitable Company is a private company limited by guarantee and has no share capttal and is incorporated in England Wales. In the event af the Charitablè Company being wound up. the lialitY in respect ol the guarantee is limited lo £1 per membor ol th& Charity, The directors of the charitable company are the Trustees and are named on page 2. The regislered company nutnber 15.. 13776784 and the registered oftice is.. 24 Britton Street, London, EC1M SUA. Incomè from donatlons 3 February 2024 28 January 2023 £'ooo £'ooo Donatlons Donations 737 347 The income from donations was £736,67012023.' £348,599) provid8d as unre8trfcted funiss trom Kurt Geiger Limited, the charitable company's parent company. Analy818 of charllable ¢xpendlturé 3 Febyuary 2024 28 January 2023 £'ooo £'aoo Gran15 to chAritabte partners Business by Design academy 165 213 397 165 No support Costs have been allocated to granl-maklng Activities.
Kurt Geiger Kindness Foundation Notes fomilng port Of the flnanclal statements forthe perlod ended 3 February 2024 Icontlnuedl Other cost8 3 February 3 February 3 February 2024 2024 2024 Support Governan Total £'ooo £'ooo £'ooo 42 42 28J8nuary 28January 28 January 2023 2023 2023 Support Governance Totsl £.0 £.0 £'o( 18 18 Staff costs Independent exarninalion Advisory lees OtheT 93 49 100 149 20 88 Trustees, remuneration expenses The charlty trust88$ were not paid any remLJt)erallon. Trustees were relmbursed for gxpenses totslling £nil 12023.. £1,613) éuring the rtod. staff costs The charitable compary has three èmployees. The employees 8re employed by Kurt Geiger Limited and indudéd in 8ccordan¢e wilh secliorTr 9.28 of the SORP. There are no employees who received employee benefits lexcluditYJ employer pension costs) of m¢xts than £80,QCM), Employees of Kurt Geiger Limited volunteered lor 409 12023.. 901 hours during the period, the trustees COn8ider the employees a5 general volunteers and have nol provlded 8ny assislance th1¢h is rel8led lo Ih¢ir trade or prol&8$ion. 3 Fèbruary 2024 28 January 2023 £'ooo £'ooo Salarles 2nd w898S S121 security costs Pension costs 73 15 18 Related party transactlons Donations of £737k 12023". £347kl were received In the period from Kurt Geiger Limited, the charitable ompany s parent company. During the pèriod Kurt Geiger Limited employees spent a lolal of 40912023.. 901 hours volunteering on ch8r>lsbJé projects. Governants and support8 costs totalling £149k12023.' £88kl were recharged by Kurt Gger Llmited, 10
Kurt Geiger Kindness Foundation Nolos formlng part of thè flnanelal $tstéménts for the perlod ended 3 FebrLEary 2024 Icontinuedl Dtbtoys 3 February 2024 28 January 2023 £'ooo £'ooo Amount8 owed by group undertaking8 311 73 Amounts owed by group undert8Klngs are unsecured, interest freo, have n() fixed dale of repayment and are repayable on demand. 10 Cradltors: amounts lalllng du¢ In on* y•ar J February 2024 £'ooo 3 January 2023 £'ooo Acuuals and dsfèrred Incom6 27 19 11 Analysis of movements In fund8 For the period ended 3 February 2024 Balance 29 January 2023 £'ooo Incorne EXpendite T¥an8feis Funds 3 February 2024 £'ooo 737 £'O(K) 15461 £'ooo 11911 191 Unre8lTicled Funds Designatèd Funds 285 737 15461 285 Deslgnated funds of £265k12023.' £94kl reL2tes lo the BusirÉss by Design academy. to be utilised in the next financial year. For th8 period ended 28 January 2023 Income ExpeThJiture Transfers Funds 28 Janu8ry 2023 £'o £'ooo £'ooo £'ooo Unrestricted FdS 347 12531 1941 Designated Fd8 347 12531 11
Kurt Geiger Kindness Foundation Note5 form19 part of the financlal statements for the perlod ended 3 Febrnary 2024 Icontlnuedl 12 Controlllng party The charitable company is a subsldlary of Kurt Geiger Limiled. Kurt Geiger Limited is Incorporated in England and Wales, registration number 00968046. The company accounts are available to the pubtic and may be obtained from Companies House. Kurt Gelger Limited is a Iwtwear, bag and aCsSri68 retailer. Kurt Geiger Limited is the sole gugianlor and has the power to appnt or rÈmove majority ol trustees. The ultimate contmlling p8rty Is MèrcuryAcquisitionsTopco Limited. a company in¢orpoT8ted in Jersey, registration number 120272. Mercury Acquisitions Topco Limited is Considered ultimate conlrolling party by wrtue ol 118 majority ownwship ol Kurt Geiger Limitèd. The companys principal activity is a holding company. Mercury Acquisitions ToKth Utniled'8 majority 8hareholder is the Fifth Cinven Fund, The largest 2nd smallest group in whith Ihe re8t8 clf the charitable company are consolidated is that headed by Mercury Mldco 1 Limited, 24 8rillon Slreet, London, EC1M 5UA. No other group finanaal statement5 Include the results of the eharitable company. The consolidated fi'nancial statements ollhese groups are available lo the public 8nd may be obtained from Companies House. 12