**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 2024**
**KOKO FOUNDATION**
## **INDEX TO THE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
||**Page**|
|---|---|
|Charity Reference and Administrative Details|2|
||3 - 9|
|Independent Examiners Report|10|
|Statement of Financial Activities
(incorporating Income & Expenditure Account)|11|
|Balance Sheet|12|
|Statement of Cash Flows|13|
|Notes to the Accounts|14 - 18|
Page 1
**KOKO FOUNDATION**
## **CHARITY REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024**
**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 Resigned 21/07/2024 Jane Featherstone All the Trustees are also members of the charity. **Key Management Personnel:** Sophia Passetti CEO Resigned 14/07/2025 Rachel Kennedy Interim Head Appointed 14/07/2025 **Accountants:** Charlie Carne & Co 49 Windmill Road London W4 1RN **Independent Examiner:** Stephanie Beeston-Clarke FCCA Beeston-Clarke Accountants Limited _Chartered Certified Accountants_ 92 Gladstone Street Winsford Cheshire CW7 4AZ **Bankers:** Barclays Bank plc **Solicitors:** Bates Wells 10 Queen Street Place London EC4R 1BE
Page 2
**KOKO FOUNDATION**
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
The trustees present their report and financial statements of the charity for the year ended 31 December 2024. 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 (CEO), who was not a trustee, was responsible for the day-to-day operation of KOKO Foundation until her resignation on 14/07/2025. From 14/07/2025 Rachel Kennedy is responsible for the day-to-day operations as Interim Head.
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).
## **RISK MANAGEMENT**
The Foundation trustees regularly review the financial risks to the organisation and have put in place procedures to mitigate such risks. They are looking at also putting in more robust procedures to manage non-financial risks.
## **GOVERNANCE & INTERNAL CONTROL**
assurance against material misstatement or loss. The Trustees are satisfied that the systems in place reduce their exposure to major issues.
Page 3
**KOKO FOUNDATION**
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
## **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.
- 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.
- 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 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.
- 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.
- For the public benefit to further such purposes as are exclusively charitable according to the laws of England and Wales from time to time.
In deciding what activities to pursue the Trustees of the Charity have had regard to guidance issued by the Charity Commission on public benefit.
Page 4
**KOKO FOUNDATION**
**FOR THE YEAR ENDED 31 DECEMBER 2024**
## **ACHIEVEMENTS AND PERFORMANCE**
KOKO Foundation is a registered charity in England and Wales (1199564), launched in 2022 to empower young people, strengthen communities, and champion environmental sustainability. With music, community, and the environment at its core, the KOKO Foundation delivers initiatives that unlock creative potential, improve wellbeing, and create greener urban spaces.
## **Communi-Trees**
KOKO Foundation has taken its first steps towards cultivating a greener urban landscape through pioneering environmental initiatives. These have been delivered in partnership with Think & Do Camden and Camden Council, rewilding our borough for the benefit of the community ecosystem. This began in 2023 - a notable example being the rewilding of Kentish Town Fire Station - and has -
The most significant environmental initiative to date is Communi-Trees, a project co-designed and This is a tree planting initiative that not only alleviates the impact of climate change, but contributes to positive health and wellbeing outcomes too. Greening urban environments have also been shown to have positive social impact, reducing antisocial behaviour and bringing communities together to share in the collective joy of cultivating a greener environment. To date, 255 trees have been planted, including 109 on estates and the remainder in local schools. Wherever possible, edible fruit trees are planted, creating a patchwork orchard across the borough - the first and largest of its kind. A new partnership with UCL enables detailed soil testing to identify safe and suitable sites for planting, though soil health challenges in the borough are limiting opportunities for food growing.
Planting days, talks and outreach programmes are integral to the delivery of Communi-Trees, the borough with enthusiasm from further local estates for planting, while recognition from the -Trees as a model for urban greening.
At our Communivibrant network of young people who are trained and employed to nurture our projects. This creates a real opportunity for the young people living on the estates, as we provide the tools and training they need to become custodians of their environment and introduce new career pathways. From spaces alive, season after season. To date, 13 KOKO Foresters have been recruited. For some, their role sparks a new and rewarding relationship with nature, positively impacting their wellbeing while simultaneously helping the environment. For others, it provides purpose, new skills and a pathway into green careers. Many forge new connections - with other Foresters through our annual KOKO Foresters party - and the neighbours and friends they meet through their work.
Page 5
**KOKO FOUNDATION**
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
Chrissy joined us in 2023 as one of our first KOKO Foresters and has gone on to become a green Trail. She says _the trees, Communi-Trees has connected me to other community-_
## **Beeline Boxes**
biodiversity in places where access to green space is limited. In partnership with Think & Do and Camden Council, our galvanised metal boxes are designed and manufactured in collaboration with a local supplier and Hafiz Onitolo, a student and designer at Central Saint Martins, UAL. They are securely fastened to railings and balconies, and filled with evergreen herbs selected by residents. 90 boxes filled with pollinator-friendly herbs were installed at our pilot site. An initiative that goes beyond biodiversity and contributing to climate-resilient urban landscapes, community is at the heart of Beeline Boxes, as residents come together to connect with nature and one another. The farreaching effects encompass everything from positively impacting health and wellbeing, to reducing antisocial behaviour, creating a safer and happier environment for all.
Beyond these core initiatives, the KOKO Foundation has distributed more than 2,000 tree whips and affected by pollution. Together, these efforts are building a more resilient, biodiverse, and connected urban environment.
## **KOKO Foundation Songwriting Academy**
creativity, a response to the vital need for embodied, creative experiences that bring young people together to learn, grow, and discover the joy of creative arts.
After a successful pilot in 2023, two further Songwriting Academie took place in 2024, delivered in partnership with Skarbek Academy, founded by Ivor Novello award winner, Sacha Skarbek. The fourday workshop brings together participants aged 18-25 for a series of songwriting sessions, mentoring, masterclasses and more, led by industry experts. It culminates in a live showcase at The House of KOKO, attended by key figures from the music industry to facilitate further networking opportunities.
## **Music Bursaries**
wellbeing and development, we are working in partnership with Camden Music to make tuition accessible to more young people in the borough - beginning with students on free school meals who may not otherwise have access to music tuition.
Page 6
**KOKO FOUNDATION**
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
In 2024 the KOKO Foundation initiated KOKO Bursaries which currently fund 11 students. Six of these are emergency funds for students who would not be able to continue otherwise. These bursaries fund weekly one-to-one music lessons for a full academic year (30 sessions), group classes and instrument hire if required, for children aged 8-16.
## **Spatial Value x KOKO Award**
In visual arts, the Spatial Value x KOKO Award continues to support emerging talent while enriching the education of local students. Creative knowledge exchange and collaborative community building through art education are at its heart, as we embolden the artists of the future. Like all our initiatives, this is designed to be scalable with the potential to replicate in schools throughout the borough.
The project is two-fold: propelling two outstanding young graduates (who are 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 an 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, the KOKO Foundation has awarded two further RCA alumna with the Spatial Value x KOKO Award in Autumn 2024.
## **Benedict Cumberbatch**
and EMMY award-winning actor, Benedict Cumberbatch as a global ambassador, joining Olivia Colman in championing our mission. With a particular focus on environmental projects, his cities globally to act. Benedict shared the following statement:
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 Camde to help bring awareness to the special work being done and continue to help improve the local area
## **A Night at The Theatre, with Letters Live**
ambassador and brought a star-studded lineing letters to life through powerful performances. Cumberbatch was joined on stage by a line-up curated by Letters Live and the KOKO Foundation, including Marisa Abela, Riz Ahmed, Cate Blanchett, Minnie Driver, Idris Elba, Richard Gadd, Ghetts, Damian Lewis, FKA Twigs, Taika Waititi, and our Voice of God Sophie Hunter. Readings were interspersed with music performances from Celeste, The Caveman, and an unforgettable medley from three-time Grammy Award winner Wyclef Jean closed the show.
Page 7
**KOKO FOUNDATION**
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
significant fundraising event, accompanied by a silent auction of artworks and experiences, kindly donated by friends of the foundation. The event raised vital funds, attracted widespread media to a much wider audience.
After the year-end a matter was reported to the Charity Commission who confirmed no regulatory action was required. The associated costs of the settlement of this matter will be recognised in the accounts for the year ending 31 December 2025.
## **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.
## **PLANS FOR THE FUTURE**
## **Beeline Boxes**
Beeline Boxes have been an opportunity to inspire, educate and encourage the community to become custodians of their environment, the initiative has been well received by the local community, with plans to expand to two further estates in 2025.
## **KOKO Foundation Songwriting Academy**
The KOKO Foundation plans to expand on the success of the Songwriting Academy with further courses, with a view to reach and benefit over 50 emerging musicians by the end of 2025.
## **Music Bursaries**
We are developing a proposal with Camden Music Services for group music classes in primary schools and will look to extend our existing bursaries in 2025 for recipients who wish to continue learning.
## **Spatial Value x KOKO Award**
This programme will run in a Camden school in the 2025 spring term, for 8-12 A-level art students aged 16-18.
## **FINANCIAL REVIEW**
During the year to 31 December 2024 KOKO Foundation received £641,148 (2023: £191,097) in income. This included donations in kind totalling £nil from Hope Lease Ltd (2023: £1,823) for expenses incurred by the charity for charitable expenditure, marketing & PR services.
At 31 December 2024 the charity had an unrestricted reserves balance of £120,431 (2023: negative £6,422); and a restricted reserves balance of £550 (2022: £4,000).
## **RESERVES POLICY**
The trustees consider that no reserves policy is required at present as its overheads are covered by a guaranteed annual sum from Hope Lease Ltd.
Page 8
**KOKO FOUNDATION**
**FOR THE YEAR ENDED 31 DECEMBER 2024**
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;
- observe the methods and principles in the Charities SORP 2019 (FRS 102);
- 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. 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 **30/10/25** and signed on its behalf by:
Amarjit Talwar Trustee/Director
Page 9
**KOKO FOUNDATION**
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
I report to the trustees on my examination of the accounts of the charitable company for the year ended 31 December 2024 which are set out on pages 11 to 18.
## **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 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 company'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.
I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving us cause to believe that in any material respect:
1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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).
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 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: 30 October 2025
Page 10
## **KOKO Foundation**
## **STATEMENT OF FINANCIAL ACTIVITIES** (including Income & Expenditure Account) **FOR THE YEAR ENDED 31 DECEMBER 2024**
|**Notes**
**Income and endowments from:**
Donations & legacies
**3**
Other trading activities
**4**
**Total income**
**Expenditure:**
Raising funds
**5**
Charitable Activities
**6**
**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 01/01/2024
**Fund balances at 31/12/2024**|**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**31/12/2024**
**31/12/2024 31/12/2024**
**£**
**£**
**£**
**487,634**
**-**
**487,634**
**153,514**
**-**
**153,514**
**641,148**
**-**
**641,148**
**82,913**
**-**
**82,913**
**431,382**
**3,450**
**434,832**
**514,295**
**3,450**
**517,745**
**126,853**
**(3,450)**
**123,403**
**-**
**-**
**-**
**126,853**
**(3,450)**
**123,403**
(6,422)
4,000
(2,422)
**120,431**
**550**
**120,981**|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)|
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 11
## **KOKO Foundation**
## **BALANCE SHEET AS AT 31 DECEMBER 2024**
**----- Start of picture text -----**
31/12/2024 31/12/2023
Notes £ £ £ £
Fixed assets
Tangible fixed assets - -
Current assets
Debtors 10 - 1,550
Cash at bank and in hand 188,174 45,755
188,174 47,305
Creditors: amounts falling due within 1 year 11 67,193 49,727
Net current assets 120,981 (2,422)
Total assets less current liabilities 120,981 (2,422)
Funds
Restricted funds 14 550 4,000
Unrestricted funds 14 120,431 (6,422)
120,981 (2,422)
**----- End of picture text -----**
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 2024. 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 **30/10/25**
**Amarjit Talwar** Chair of Trustees
## **Company Number 13394917**
Page 12
## **KOKO Foundation**
## **STATEMENT OF CASH FLOWS AS AT 31 DECEMBER 2024**
**----- Start of picture text -----**
31/12/2024 31/12/2023
£ £ £ £
Cash flows from operating activities
Net movement in funds for the year 123,403 2,452
Interest received - -
Depreciation - -
(Increase)/decrease in debtors 1,550 (1,550)
Increase/(decrease) in creditors 17,466 44,854
Net cash provided by/(used in) operating activities 142,419 45,755
Cash flow from investing activities
Purchase of fixed assets - -
Interest received - -
Net cash used in Investing Activities - -
Net increase/(decrease) in cash and cash equivalents 142,419 45,755
Cash and cash equivalents at 1 January 2024 45,755 -
Cash and cash equivalents at 31 December 2024 188,174 45,755
Cash and cash equivalents consists of:
Cash at bank and in hand 188,174 45,755
**----- End of picture text -----**
Page 13
## **KOKO Foundation**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
## **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 14
## **KOKO Foundation**
## **NOTES TO THE ACCOUNTS** (continued) **FOR THE YEAR ENDED 31 DECEMBER 2024**
## **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.
|**Other trading activities**
Fundraising income
Trading income
**Raising funds expenditure**
Event costs
Support costs (see note 7)
Governance costs (see note 7)
**Donations and legacies**
Donations and gifts
Donations in kind
_For the period ended 31/12/2023_
_For the period ended 31/12/2023_
_For the period ended 31/12/2023_|**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
Total
**31/12/2024**
**31/12/2024 31/12/2024** 31/12/2023
**£**
**£**
**£**
£|
|---|---|
||**487,634**
**-**
**487,634**
176,347
**-**
**-**
**-**
1,823|
||**487,634**
**-**
**487,634**
178,170|
||_168,170_
_10,000_
_178,170_
**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
Total
**31/12/2024**
**31/12/2024 31/12/2024** 31/12/2023
**£**
**£**
**£**
£|
||**139,305**
**-**
**139,305**
-
**14,209**
**-**
**14,209**
12,927|
||**153,514**
**-**
**153,514**
12,927|
||_12,927_
_-_
_-_
_12,927_
**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
Total
**31/12/2024**
**31/12/2024 31/12/2024** 31/12/2023
**£**
**£**
**£**
£
**72,612**
**-**
**72,612**
-|
||**72,612**
**-**
**72,612**
-|
||**10,301**
**-**
**10,301**
-
**-**
**-**
**-**
-|
||**82,913**
**-**
**82,913**
-|
||_-_
_-_
_-_|
- **3 Donations and legacies**
- **4 Other trading activities**
- **5 Raising funds expenditure**
_For the period ended 31/12/2023_
Page 15
## **KOKO Foundation**
## **NOTES TO THE ACCOUNTS** (continued)
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
**----- Start of picture text -----**
Unrestricted Restricted
6 Charitable activity expenditure Total Total
funds funds
31/12/2024 31/12/2024 31/12/2024 31/12/2023
£ £ £ £
General - - - 22,774
Environmental 75,627 - 75,627 35,143
Academies 13,388 - 13,388 7,346
Arts 115,000 3,450 118,450 -
Music 21,600 - 21,600 221
225,615 3,450 229,065 65,484
Support costs (see note 7) 189,761 - 189,761 108,546
Governance costs (see note 7) 16,006 - 16,006 14,615
431,382 3,450 434,832 188,645
For the period ended 31/12/2023 182,645 6,000 188,645
Support Governance
7 Support and governance costs Total Total
costs costs
31/12/2024 31/12/2024 31/12/2024 31/12/2023
Support £ £ £ £
Salaries 24,110 - 24,110 -
Contractors 114,480 - 114,480 78,000
Consultancy 7,560 - 7,560 -
Marketing & PR 8,246 - 8,246 24,450
Repairs & small equipment 1,143 - 1,143 -
Travel 25,448 - 25,448 1,874
Website 800 - 800 75
Telephone 5,153 - 5,153 -
Computer costs 606 - 606 -
Publicity and events 1,850 - 1,850 -
Bookkeeping/Accountancy 8,568 - 8,568 2,856
Merchandising 476 - 476 -
Bank charges 362 - 362 91
Governance
Accountancy/Independent Examination 1,260 1,764 3,024 2,880
Legal and professional fees - 14,242 14,242 12,935
Trustees' meeting expenses - - - -
200,062 16,006 216,068 123,161
For the period ended 31/12/2023 108,546 14,615 123,161
Analysed between
Fundraising 10,301 - 10,301 -
Charitable Activities 189,761 16,006 205,767 123,161
200,062 16,006 216,068 123,161
For the period ended 31/12/2023
Fundraising - - -
Charitable Activities 108,546 14,615 123,161
108,546 14,615 123,161
**----- End of picture text -----**
Governance costs includes £1,764 (2023: £1,680) in respect of the independent examination.
Page 16
## **KOKO Foundation**
## **NOTES TO THE ACCOUNTS** (continued)
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
## **8 Trustees Reimbursed Expenses**
No expenses were reimbursed to trustees in the year (2023: £nil)
## **9 Employees**
There was 1 employee of the charity for the year to 31/12/2024 (2023: nil)
The charity employed the services of a contractor in the role of CEO. The amount paid in the year for these services was £100,000 (2023: £78,000). The CEO became an employee of the charity during the year and received remuneration of £24,110 (2023: £nil)
|**Employment costs**
Wages and salaries
Social security costs
Pension costs
**10**
**Debtors: amounts falling due within one year:**
Other debtors
**11**
**Creditors : amounts falling due within one year:**
Trade creditors
Other taxation and social security
Accruals & deferred income
**12**
**Analysis of net assets between funds**
Fund balances at 31/12/2024 are represented by:
Tangible assets
Current assets/(liabilities)
_Prior Period_
_Fund balances at 31/12/2023 were represented by:_
_Tangible assets_
_Current assets/(liabilities)_|**Unrestricted**
**funds**
**£**
-
120,431|**31/12/2024**
31/12/2023
**£**
£
**24,000**
-
**-**
-
**110**
-|
|---|---|---|
|||**24,110**
-
**31/12/2024**
31/12/2023
**£**
£
**-**
1,550|
|||**-**
1,550
**31/12/2024**
31/12/2023
**£**
£
**51,431**
44,255
**4,152**
-
**11,610**
5,472|
|||**67,193**
49,727
**Restricted**
**Funds**
**Total**
**£**
**£**
-
-
550
120,981|
||120,431
_Unrestricted_
_funds_
_£_
_-_
_(6,422)_|
550
120,981
_Restricted_
_Funds_
_Total_
_£_
_£_
_-_
_-_
_4,000_
_(2,422)_|
||_(6,422)_|_4,000_
_(2,422)_|
Page 17
## **KOKO Foundation**
## **NOTES TO THE ACCOUNTS** (continued) **FOR THE YEAR ENDED 31 DECEMBER 2024**
## **13 Related Party Transactions**
Related party transactions during the period were as follows:
Hope Lease Ltd, of which trustee Oliver Benough is a director, made donations in kind of £nil (2023: £1,823) during the year.
Also during the year, Hope Lease Ltd made donations of £127,884 (2023: £116,347), and made payments of £5,987 (2023: £12,927) to the charity for the use of the charity's trade marks, and for promotional and fundraising assistance.
Trustees made donations without restriction to KOKO Foundation of £50,000 in aggregate (2023: £50,000). In the year, trustees participated in the charity's fundraising auction as follows:
One trustee purchased items at auction for total consideration of £13,000. These transactions were conducted at fair market value through the charity's normal auction process.
## **14 Funds Analysis**
|**Funds Analysis**||
|---|---|
|**Fund Movements**
**Restricted:**
Esmée Fairbairn Foundation
**Unrestricted**
General Fund
**Total Funds**|**01/01/2024**
**Outgoing**
**Resources**
**Transfers**
**31/12/2024**
**Incoming Resources**|
||4,000
3,450
**-**
550
(6,422)
514,295
**-**
120,432
641,148
-|
||(2,422)
517,745
-
120,982
641,148|
Page 18