Registered Charity No: 1199564 Registered Company No: 13394917 (England & Wales)
KOKO Foundation
(A Company Limited by Guarantee)
Annual Report and Financial Statements
For the year ended
31 December 2023
KOKO FOUNDATION
INDEX TO THE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
| Page | |
|---|---|
| Charity Reference and Administrative Details | 2 |
| Trustees’ Annual Report (incorporating Director’s Report) |
3 - 8 |
| Independent Examiners Report | 9 |
| Statement of Financial Activities (incorporating Income & Expenditure Account) |
10 |
| Balance Sheet | 11 |
| Notes to the Accounts | 12 - 15 |
Page 1
KOKO FOUNDATION
CHARITY REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023
Charity Name:
KOKO Foundation
Charity Registration Number: 1199564
Company Registration Number: 13394917 (England & Wales)
Registered Office:
3[rd] Floor 7 Greenland Street London NW1 0ND
Trustees/Directors:
The directors of the charitable company are also its trustees for the purpose of charitable law. The trustees who have served during the year and since the year end are as follows:
Amarjit Talwar Chair Oliver Bengough Thomas De Rosa Appointed 03/11/2023; Resigned 21/07/2024 Jane Featherstone Appointed 03/11/2023 Chloe Franses Resigned 01/04/2023
All the Trustees are also members of the charity.
Independent Examiner:
Stephanie Beeston-Clarke FCCA Beeston-Clarke Accountants Limited Chartered Certified Accountants 92 Gladstone Street Winsford Cheshire CW7 4AZ
Bankers: Barclays Bank plc
Page 2
KOKO FOUNDATION
TRUSTEE’S ANNUAL REPORT (incorporating Director’s Report) FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees present their report and financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS102) in preparing the annual financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity governing document, the Charities Act 2011 and 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 published in October 2019 (second edition).
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity is constituted as a company limited by guarantee and became a registered charity on 6 July 2022 (charity registration number: 1199564). The objects and powers of the Charity are set out in its governing document which is its Articles of Association.
Sophia Pasetti, who is not a trustee, is responsible for the day-to-day operation of KOKO Foundation.
The Charity is run by a board of Trustees, with co-opted members. The Trustees are also the only company members of the Charity. The Trustees are currently carrying out a skills audit in the context of further Trustee recruitment and working with the Charity ’ s legal advisors to ensure good governance and put in place relevant policies. The Trustees plan to host an induction training session with its legal advisors.
Whilst KOKO Foundation is an independent organisation constituted as a company limited by guarantee with Charitable status directed by a board of trustees, it has a close working relationship with The Hope Lease Limited (trading as KOKO).
OBJECTIVES AND ACTIVITIES
The objects of the Charity are:
-
To advance the education of the public, but not exclusively the education of young people, with reference to the performing arts, particularly but not exclusively through the provision of workshops, artistic training, performance, public discussion, and other educational programmes.
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To promote sustainable development for the benefit of the public by the conservation, protection and improvement of the physical and natural environment and the prudent use of resources.
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To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society, but not exclusively by working with socially excluded people in and around the area of Camden in London. For this article ‘socially excluded’ means being excluded from society, or part of society, as a result of being a member of a socially and/or economically deprived community including (but not limited to) those that are excluded from society as a result of youth and/or unemployment.
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To advance the arts and culture for the benefit of the general public through promotion, production and encouragement of all art forms, including but without limitation, music, dance and film, with particular but not exclusive reference to live performances.
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For the public benefit to further such purposes as are exclusively charitable according to the laws of England and Wales from time to time.
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KOKO FOUNDATION
TRUSTEE’S ANNUAL REPORT (incorporating Director’s Report) FOR THE YEAR ENDED 31 DECEMBER 2023
In deciding what activities to pursue the Trustees of the Charity have had regard to guidance issued by the Charity Commission on public benefit.
ACHIEVEMENTS, PERFORMANCE AND PLANS FOR THE FUTURE
The KOKO Foundation is a registered charity - 1199564. Its mission statement is to empower youth, enrich communities, and nurture a green world. With community, music and environment at its heart, the KOKO Foundation has become a force for positive change; unlocking creative potential in disadvantaged young people, and nurturing the talents of the next wave of essential new artists. And while the KOKO Foundation’s initiatives aim to enrich the community around its home in Camden through an array of creative partnerships and initiatives with local enterprises, its longerterm ambition is to ensure that those ideas can be replicated across London and beyond.
The KOKO Foundation has quietly taken its first steps towards achieving its goals by focusing upon local environmental initiatives. The most notable of these has been a partnership with Think & Do Camden and Camden Council, which has deployed a selection of activations to help rewild Camden for the benefit of the community ecosystem, one notable example being the Kentish Town fire station. In just two years, we’ve now contributed to an estimated 40% of new trees in London, and are receiving growing recognition.
The most significant environment initiative to date is the Communi-trees project, which has established over 170 mature trees on 10 council estates throughout the borough, including two edible fruit orchards – the first of their kind on Camden estates. The initiative is incredibly popular locally, and further sites have been identified for planting in Q4 2024.
For each site, we also employ young local residents, the ‘KOKO Foresters’ to maintain the trees. This encourages future generations to become custodians of their environment and connect with nature, creating a positive circular economy, rather than relying on external council contractors. We now have 16 KOKO Foresters employed across our sites, who come together at KOKO for special pizza nights to further build community The KOKO Foundation funds everything from community events and consultations with local residents to soil testing, professional tree planting, trees, equipment for their ongoing care and maintenance, and the training and employment of ‘KOKO Foresters’ for one year.
The programme has been such a success that the KOKO Foundation has partnered with The Ashden Climate Trust to pursue plans to expand into 20 more boroughs, and we’ve also gained recognition from the Mayor of London, with Communi-trees being highlighted as a case study in the Urban Forest Partnership, 2024.
The foundation has also given away 2,000 tree whips across 26 community events and has proudly rewilded 26 local schools with fruit trees and jammy hedges, with an initial focus on schools that are situated on major roads and polluted areas, to foster cleaner environments and increase biodiversity.
Building on our successful partnership with Think & Do and Camden Council, in July 2024 we launched a pioneering new project; Beeline Boxes. Working in partnership with a student of socially responsive design at Central St Martins University, we have co-designed and manufactured galvanised metal boxes which are filled with edible evergreen herbs and installed on public walkways on estates. For our first estate 90 Beeline Boxes have been installed, filled with 360 plants. Designed to increase biodiversity in an urban area of Camden and encourage the community to engage with nature, the boxes also have an incredible social impact, transforming a neglected building into somewhere colourful and full of life.
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KOKO FOUNDATION
TRUSTEE’S ANNUAL REPORT (incorporating Director’s Report) FOR THE YEAR ENDED 31 DECEMBER 2023
KOKO Arts Academy
After a successful pilot in November 2023, of 12 students aged between 18-30, the foundation has launched KOKO Arts Academy, forging creative opportunities for young people and nurturing the next generation of talent. The KOKO Arts Academy invites aspiring young people to learn, grow, and discover the joy of the creative arts, through workshops and programmes.
Following the pilot, a second Academy focused on music took place in May 2024 in partnership with Ivor Novello award winning songwriter and producer, Sacha Skarbek. A three-day workshop for 12 students aged 18-25 year olds focused on songwriting, mentoring and industry expertise, the course culminated in live performances by the students in Ellen’s, KOKO, accompanied by session musicians. The third academy in collaboration with Sacha Skarbek is scheduled for November 2024, with plans to expand into other creative industries in 2025.
Benedict Cumberbatch
In summer 2024 BAFTA, Olivier and EMMY award-winning actor, Benedict Cumberbatch joined the KOKO Foundation as a global ambassador alongside Olivia Colman, with a special focus on the environment – a matter close to his heart. As an ambassador, Cumberbatch will amplify our efforts to ensure a greener and more sustainable city, while drawing a focus to environmental projects that can transform communities and inspire other cities globally. On joining, Benedict has said:
“I am honoured to be a KOKO Foundation Ambassador with a special focus on the environment. It’s been so inspiring to witness first-hand, the amazing impact that the Foundation has quietly had over the past few years, making real and lasting change in Camden. I’m excited, inspired and committed to help bring awareness to the special work being done and continue to help improve the local area and scale the foundation’s work around the country, and the world.”
Letters Live
To celebrate our new relationship with Benedict Cumberbatch we are holding a very special fundraising edition of Letters Live at KOKO, in support of the KOKO Foundation. This will be the charity’s first significant fundraising event and will welcome remarkable musical and acting talent to the stage, including Benedict Cumberbatch, Cate Blanchett, Riz Ahmed, Idris Elba, FKA Twigs – and many more. Over a decade, Letters Live has built up a reputation as a truly iconic event, so it’s incredibly special to be hosting it at KOKO – which has already caught media attention, featuring in Variety, NME, Rolling Stone, and more.
Tickets are available to the general public, alongside a carefully curated audience of VIP guests, HNWs and media, who are likely to give generously to the foundation, and become important advocates of our work – amplifying our message among their own communities. Taking place in November 2024, we expect it to be a significant event in raising both money for the charity and awareness of our work. A silent auction will encourage further donations on the night.
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KOKO FOUNDATION
TRUSTEE’S ANNUAL REPORT (incorporating Director’s Report) FOR THE YEAR ENDED 31 DECEMBER 2023
Good Vibes Day with Femi Koleoso
Recognising the transformative power of just one day, Good Vibes Day empowers young people through music. Free to attend, KOKO’s theatre set the scene for a day of drum tuition, networking, industry advice and a jam session for kids and music students, led by Femi Koleoso, best known as drummer of the Grammy award winning Gorillaz, and drummer and frontman of Mercury prize winning jazz group, Ezra Collective. The KOKO Foundation funded the first KOKO edition in
December 2023, for 15-20 year olds, with priority given to disadvantaged young people. Almost 100 participants joined in a collective, community building jam, with one-to-one drumming lessons with Femi for approximately ten students. Following its success, we plan to hold a second this December 2024.
Music Bursaries
We’re determined to make music accessible for all young people in Camden – and beyond. We understand the transformative impact learning music can have on a child’s health, wellbeing and development, and are working in partnership with Camden Council and Camden Music Services to implement music bursaries, beginning with students on free school meals who wouldn’t otherwise have access to music tuition.
In 2024 we’re funding 11 music bursaries – six of which are emergency funds for students that would not be able to continue otherwise. These bursaries fund weekly one-to-one music lessons for a full school year (30 sessions) and instrument hire if required, for children aged 8-16. We are also developing a proposal with Camden Music Services for group music classes in primary schools.
Spatial Value x KOKO Award
Like all KOKO Foundation initiatives, this is a dynamic project aimed to be scalable, with the potential to replicate it in schools throughout the borough. Creative knowledge exchange and collaborative community building through art education are at its heart, as we embolden the artists of the future.
The project is two-fold: propelling two outstanding young graduates (who are also awarded a cash prize) from the Royal College of Art into their career and giving them the experience of working with a local state school to develop an art programme with A-level art students. These students benefit from working with young art practitioners and gain valuable, innovative skills, as well as developing their creative thinking. The collaboration is steered by experienced curator, and culminates in a showcase of the creative outcomes in the school, community, and at The House of KOKO.
Following a successful pilot in 2023, we have awarded two further RCA alumna with the Spatial Value x KOKO Award in Autumn 2024. The programme will run in a Camden school in the spring term, for 8-12 A-level art students aged 16-18.
Page 6
KOKO FOUNDATION
TRUSTEE’S ANNUAL REPORT (incorporating Director’s Report) FOR THE YEAR ENDED 31 DECEMBER 2023
FINANCIAL REVIEW
During the year to 31 December 2023 KOKO Foundation received £191,097 in income. This included donations in kind totalling £1,823 from Hope Lease Ltd (2022: £63,286 for expenses incurred by the charity for charitable expenditure, marketing & PR services.
At 31 December 2023 the charity had a negative unrestricted reserves balance of £6,422 (31/12/2022: negative £4,873); and a restricted reserves balance of £4,000 (2022: £nil). Donations from Hope Leasing Ltd are due to KOKO Foundation in 2024 which will bolster unrestricted reserves.
RESERVES POLICY
The trustees consider that no reserves policy is required at present as there are no overheads that would need to be safeguarded in the event of a lack of funds. However, the trustees are working towards implementing a policy of retaining a minimum of three months operational costs during 2024.
Page 7
KOKO FOUNDATION
TRUSTEE’S ANNUAL REPORT (incorporating Director’s Report) FOR THE YEAR ENDED 31 DECEMBER 2023
TRUSTEES’ RESPONSIBILITIES STATEMENT
The Trustees, who are also directors of the charity are responsible for preparing the Trustees' Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources of the charitable company for the year.
In preparing those financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP 2019 (FRS 102);
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make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities 2019 (FRS 102) and in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by the Trustees/Directors on 28 October 2024 and signed on its behalf by:
_____ Amarjit Talwar Trustee/Director
Page 8
KOKO FOUNDATION
INDEPENDENT EXAMINERS’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
We report to the trustees on our examination of the accounts of the charitable company for the year ended 31 December 2023 which are set out on pages 10 to 15.
Responsibilities and basis of report
As the charity 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 ourselves 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, we report in respect of our examination of your company's accounts as carried out under section 145 of the Charities Act 2011 ("the 2011 Act"). In carrying out our examination, we have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner’s Statement
We have completed our examination. We can confirm that no matters have come to our attention in connection with the examination giving us cause to believe that in any material respect:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
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
-
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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the accounts to be reached.
Stephanie J Beeston-Clarke FCCA Beeston-Clarke Accountants Limited Chartered Certified Accountants 92 Gladstone Street Winsford Cheshire CW7 4AZ Dated: 28 October 2024
Page 9
KOKO Foundation
STATEMENT OF FINANCIAL ACTIVITIES (including Income & Expenditure Account) FOR THE YEAR ENDED 31 DECEMBER 2023
| Notes Income and endowments from: Donations & legacies 3 Other trading activities 4 Total income Expenditure: Charitable Activities 5 Total resources expended Net incoming/(outgoing) resources before transfers Transfers between funds Net income/(expenditure) for the year / net movement in funds Fund balances at 01/01/2023 Fund balances at 31/12/2023 |
Unrestricted funds Restricted funds Total 31/12/2023 31/12/2023 31/12/2023 £ £ £ 168,170 10,000 178,170 12,927 - 12,927 181,097 10,000 191,097 182,645 6,000 188,645 182,645 6,000 188,645 (1,548) 4,000 2,452 - - - (1,548) 4,000 2,452 (4,873) - (4,873) (6,422) 4,000 (2,422) |
Unrestricted funds Restricted funds Total 31/12/2022 31/12/2022 31/12/2022 £ £ £ |
|---|---|---|
| 63,286 - 63,286 - - - |
||
| 63,286 - 63,286 |
||
| 68,159 - 68,159 |
||
| 68,159 - 68,159 |
||
| (4,873) - (4,873) - - - |
||
| (4,873) - (4,873) - - - |
||
| (4,873) - (4,873) |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
The statement of financial activities also complies with the requirement for an income and expenditure account under the Companies Act 2006.
Page 10
KOKO Foundation
BALANCE SHEET AS AT 31 DECEMBER 2023
| Notes £ £ Fixed assets Tangible fixed assets - Current assets Debtors 9 1,550 Cash at bank and in hand 45,755 47,305 Creditors: amounts falling due within 1 year 10 49,727 Net current assets (2,422) Total assets less current liabilities (2,422) Funds Restricted funds 13 4,000 Unrestricted funds 13 (6,422) (2,422) 31/12/2023 |
£ £ 31/12/2022 |
£ £ 31/12/2022 |
£ £ 31/12/2022 |
|---|---|---|---|
| - - |
- (4,873) |
||
| - 4,873 |
|||
| (4,873) | |||
| - (4,873) |
|||
| (4,873) |
The charitable company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023. No member of the charitable company has deposited a notice, pursuant to section 476, requiring and audit of those accounts.
The Trustees acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The accounts were approved by the Board of Trustees on 28 October 2024.
…............................................................................. Amarjit Talwar Chair of Trustees
Company Number 13394917
Page 11
KOKO Foundation
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
1 Accounting policies
Charity information
KOKO Foundation is a charitable company limited by guarantee, incorporated in England and Wales. The registered office is 3rd Floor 7 Greenland Street, London, England, NW1 0ND.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charitable company's memorandum and articles of association, the Companies Act 2006, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102), 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 issued in October 2019, UK Generally Accepted Accounting Practice and applicable charity and company law. The charitable company is a Public Benefit Entity as defined by FRS102. The charitable company has taken advantage of the provisions in the SORP for charities applying FRS102 Update Bulletin 2 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have reviewed the going concern of the charity and consider that the charity has adequate resources to continue in operational existence for the foreseeable future.
1.3 Charitable funds
Unrestricted funds are available for use at discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.
Transfers are made between funds when adequate justification and supporting evidence is provided.
1.4 Incoming resources
Grants are accounted for on an accruals basis and allocated between funds according to the basis of the grant being provided. Grant income is recognised when the charity is entitled to it after performance conditions have been met, the amounts can be measured reliably and it is probable that the income will be received. Where the charitable company is required to repay any part of the grant a provision is made for the amount due to be repaid.
Donations and legacies receivable are accounted for where there is entitlement, sufficient certainty of receipt and the amount can be measured reliably. In the case of unsolicited donations this is usually only when received. All other income is accounted for under the accruals concept. No amounts are included in the financial statements for services donated by volunteers. Donated capital items are included withing the financial statements at their current value at the time of donation. Trading income is receivable on a profit share basis. Income received for future periods is deferred until those periods.
1.5 Resources expended
All expenses are accounted for on an accruals basis. Expenditure incurred in connection with the specific objects of the charitable company is included under the heading of direct charitable expenditure, overheads are allocated to activities in proportion to their use of facilities. The irrecoverable element of VAT is included with the item of expense to which it relates.
Page 12
KOKO Foundation
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2023
1 Accounting policies (continued)
1.6 Creditors and provisions
Creditors and provisions are recognised where the charitable company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement value.
1.7 Debtors
Debtors are recognised at the settlement amount due.
2 Critical accounting estimates and judgements
In the application of the charitable company´s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
| 3 4 Other trading activities Trading income 5 Charitable activity expenditure General Environmental Academies Music Support costs (see note 6) Governance costs (see note 6) For the period ended 31/12/2022 Donations and legacies Donations and gifts Donations in kind For the period ended 31/12/2022 For the period ended 31/12/2022 |
Unrestricted funds Restricted funds Total Total 31/12/2023 31/12/2023 31/12/2023 31/12/2022 £ £ £ £ |
|---|---|
| 166,347 10,000 176,347 - 1,823 - 1,823 63,286 |
|
| 168,170 10,000 178,170 63,286 |
|
| 63,286 - 63,286 Unrestricted funds Restricted funds Total Total 31/12/2023 31/12/2023 31/12/2023 31/12/2022 £ £ £ £ |
|
| 12,927 - 12,927 - |
|
| - - - - Unrestricted funds Restricted funds Total Total 31/12/2023 31/12/2023 31/12/2023 31/12/2022 £ £ £ £ 16,774 6,000 22,774 - 35,143 - 35,143 43,182 7,346 - 7,346 - 221 - 221 - |
|
| 59,484 6,000 65,484 43,182 |
|
| 108,546 - 108,546 18,033 14,615 - 14,615 6,944 |
|
| 182,645 6,000 188,645 68,159 |
|
| 68,159 - 68,159 |
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KOKO Foundation
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2023
| 6 Support and governance costs Support Contractors Marketing & PR Repairs & small equipment Travel Website Bookkeeping/Accountancy Bank charges Governance Accountancy/Independent Examination Legal and professional fees Trustees' meeting expenses Analysed between Fundraising Charitable Activities Fundraising Charitable Activities For the period ended 31/12/2022 For the period ended 31/12/2022 |
Support costs Governance costs Total 31/12/2023 31/12/2023 31/12/2023 £ £ £ 78,000 - 78,000 24,450 - 24,450 - - - 1,874 - 1,874 75 - 75 2,856 - 2,856 91 - 91 1,200 1,680 2,880 - 12,935 12,935 - - - |
Total 31/12/2022 £ - 14,121 32 61 2,739 - - 2,592 5,432 - |
|---|---|---|
| 108,546 14,615 123,161 |
24,977 | |
| 18,033 6,944 - - - 108,546 14,615 **123,161 ** |
24,977 - 24,977 |
|
| 108,546 14,615 123,161 |
24,977 | |
| - - 18,033 6,944 18,033 6,944 |
- 24,977 |
|
| 24,977 |
Governance costs includes £1,680 (2022: £1,512) in respect of the independent examination.
7 Trustees Reimbursed Expenses
No expenses of were reimbursed to trustees in the year (2022: £61).
8 Employees
There were no employees of the charity for the year to 31/12/2023 or for the period to 31/12/2022 The charity employed the services of a contractor in the role of CEO. The amount paid in the year for these services was £78,000.
9 Debtors: amounts falling due within one year:
| Other debtors | |
|---|---|
| 10 | Creditors : amounts falling due within one year: |
| Trade creditors | |
| Accruals & deferred income |
| 31/12/2023 | 31/12/2022 |
|---|---|
| £ | £ |
| 1,550 | - |
| 1,550 | - |
| 31/12/2023 | 31/12/2022 |
| £ | £ |
| 44,255 | 2,281 |
| 5,472 | 2,592 |
| 49,727 | 4,873 |
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KOKO Foundation
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2023
| 11 Analysis of net assets between funds Fund balances at 31/12/2023 are represented by: Tangible assets Current assets/(liabilities) Prior Period Fund balances at 31/12/2022 were represented by: Tangible assets Current assets/(liabilities) |
Unrestricted funds Restricted Funds Total £ £ £ - - - (6,422) 4,000 (2,422) |
|---|---|
| (6,422) 4,000 (2,422) |
|
| Unrestricted funds Restricted Funds Total £ £ £ - - - (4,873) - (4,873) |
|
| (4,873) - (4,873) |
12 Related Party Transactions
Related party transactions during the period were as follows:
Trustee Chloe Frances was paid £5,100 for marketing consulting work (31/12/22: £1,500), before her resignation as a trustee on 01/04/2023.
Hope Lease Ltd, of which trustee Oliver Benough is a director, made donations in kind of £1,823 (31/12/2022: £63,286) during the year.
Also during the year Hope Lease Ltd made donations of £116,347 (2022: £nil)
During the year trustees made donations without restriction to KOKO Foundation of £50,000 in aggregate (31/12/2022: £nil).
13 Funds Analysis
| Funds Analysis | |
|---|---|
| Fund Movements Restricted: Esmée Fairbairn Foundation Unrestricted General Fund Total Funds |
01/01/2023 Outgoing Resources Transfers 31/12/2023 Incoming Resources |
| - 6,000 - 4,000 (4,873) 182,645 - (6,422) 181,097 10,000 |
|
| (4,873) 188,645 - (2,422) 191,097 |
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