## **KENT FAMILY FOUNDATION**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025**
## **KENT FAMILY FOUNDATION**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
## **Independent examiner**
Mr Nicholas Kent Miss L E Kent Mrs L Kent Mr C J Kent
Dickinsons Brandon House First Floor 90 The Broadway Chesham Buckinghamshire HP5 1EG
(Appointed 23 February 2024) (Appointed 28 May 2024) (Appointed 23 February 2024) (Appointed 23 February 2024)
## **KENT FAMILY FOUNDATION**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Statement of cash flows|6|
|Notes to the financial statements|7 - 12|
## **KENT FAMILY FOUNDATION**
## **TRUSTEES REPORT**
## **FOR THE PERIOD ENDED 31 MARCH 2025**
The trustees present their annual report and financial statements for the period ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
## **Objectives and activities**
## _Public benefit_
The object of the Kent Family Foundation is to further such charitable purposes (charitable under English law) as the trustees see fit from time to time through the provision of grants.
During the period, 4 grants were made to UK registered charities totaling £7,500.
The Trustees confirm that they had have regard to the guidance issued by the Charity Commission on public benefit.
The Trusts grant making policy is published on our website kentfamily.org
## **Achievements and performance**
## _Significant activities and achievements against objectives_
The Trust made 4 grants to UK registered charities over this period.
1. Ghana School Aid – building a toilet block in the Upper East Region of Ghana (complete)
2. Serendip Children’s home – funding a working women’s programme in Sri Lanka (complete)
3. Sustainable Global Gardens – helping train farmers in Malawi to use better cultivation techniques (in progress)
4. Seven Hills Foundation – funding a Saturday programme to support vulnerable girls working on the streets in Tanzania (in progress)
More details are available on our website.
## **Financial review**
The Kent Family Foundation is in a strong financial position following the transfer in of assets from the Nick and Lisa Kent Charitable Trust and substantial donations from family members.
The trustees believe that the asset allocation and risk profile of the Foundation’s investment portfolio are well suited to the aims of the Foundation. The unrealised investment loss for the period was in line with the markets overall and has been more than recouped since.
The result for the year is a deficit of £66,621.
## _Reserves policy_
It is the policy of the trust to make grants out of the dividend and interest income received on the foundation’s investments. This allows the foundation to maintain spending power in a period of significant inflation and to grow through new donations creating a philanthropic legacy for future generations.
At the year-end unrestricted reserves amount to £2,132,633.
## **Structure, governance and management**
The trust is a charitable incorporated organisation and has no share capital. The company became a registered charity with the Charities Commission for England and Wales on 22 February 2024.
- 1 -
KENT FAMILY FOUNDATION
TRUSTEES REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
The trustees who served during thg peritxl and up to thé dale of sign*ure of the finanaal statements were..
Mr Nichelas Kent
Miss L E Kent
Mrs L Kent
MrCJKent
{Appoinled 23 February 20241
{Appointed 28 May 20241
{Appginted 23 February 2024)
(Appointed 23 Fgbruary 20241
Rgcwitm8rt 8nd appnIMent0f trustees
The Foundation ha¥ four family members as trust¢e8 who we believe have the requisite levd skills and eXrienCe.
The trustees have the powerto select new and replacement trustees as and when required.
The trustees report was approved by tho Board of Trustee8.
?qlqltC
Mr Nithola8 Kent
Trugtg•
Dale..
411912
KENT FAMILY FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF KENT FAMILY FOUNDATION
I rapart to tha trustaes on my examination of the financial statements ol Kent Family Foundation (the trust) lor the
pellod ended 31 March 2025.
Rosponslbllltles and basls of report
As the trustees ol the tW8t YOU are re5ponslble for thè preparatlon of the financlal statements In accordan with the
requiEments of the CharitiesArl 2011.
HavirvJ satisfied myself that the accounts ol the Charity are not required to be audited this year by sway of audil
dispensation from th8 aeeounts scrutiny seclitrn 144121 of the Charities Act 2011 g¥anied by the Charities
Commission on 17 July 2025 and are eligible for independent examination, I report in respect of Elly exarninstion of
your charity's accounts as (arried out under 88Ction 145 of charitie8 A¢t 2011 fihe 2011 Aol'l. In carrying out my
exarrtination, I have followed the Directions given by the Charity Commission luNler section 14515llbl ol the 2011
Act).
Independent examlnèrfs ststsmant
Slnce the trust's gross incofne exceeded £250,000, the indep8nd8nt 8xamin8r must be a m8mb8r of 8 body listéd in
section 145 of the CharitEe5 Aci 2011. 1 confirm that l am qualif18d lo undert*e the examinaQon beca l arn
member of ICAEW. whi¢h Is on6 of the listed bodies.
Your attention is drawn to the lact that the ¢harily has propared tha financial statements in accoidsnee wth the
relewdnt v8rslon ol the Statement ol Remmended Practice applicabl8 to charitie8 preparing their financial
stalemonls in accoid&nce with the Fin2nclal Rewrting Standard applicable in the UK and Republic ol Ireland IFRS
1Q121 in preference to the Accounting and Reporting by CharitE5'. Statetnent of RecomtnetKJed P[actf issued on 1
April 2005 whi¢h is referred to in the extant regulations but has now been withdrawn. l understand that this has
b88n done in order for the financSal statements to provide a true and fair view fft accordan with UK Generavy
Accepted A¢counbng PTHCtic6.
I have completed my examination. I confirm that no matters have corn8 to my attèfttl In conn8etion with th6
examination giving me cause to believe that in any material respg¢t'
aceounting records were not kept in respe¢l ol the irusl as requir8d by $8etion f30 of th8 Charit488 Act 2011.
the financial statements do not ac(x>rd with those rec(d8,. or
the financial stalerrtents do not comply with the applicable requirements concerning the form and content ol
finanaal statements 8et out in the Charities (AccontS and Reports) Regulations 2CK)8 other than any
requirèmenl that the finanaal statements give a twe and lair Mew, vthich Is not 8 fflatter considered 8$ part of
an independent examination.
I have no coneems and have come across no other matters in conn8Cti¢)n with th6 a%8mination to whi¢h atlènlion
should be drawn in this report in order to enable a pioper understanding ol the finanu81 statemsnts b b@ reached.
Dominic Cader FCA
Dickinsons
Chartered Accountants
Bran(k)n Hou88
First Floor
90 The Broadway
Chesham
Buckinghamshire
HP5 IEG
Date..
-.0611Q12025...............
## **KENT FAMILY FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE PERIOD ENDED 31 MARCH 2025**
|||**Unrestricted**|
|---|---|---|
|||**funds**|
|||**2025**|
||**Notes**|**£**|
|**Income and endowments from:**|||
|Donations and legacies|**2**|2,199,830|
|Investments|**3**|9,116|
|Other income|**4**|101|
|**Total income**||2,209,047|
|**Expenditure on:**|||
|Raising funds|**5**|685|
|Charitable activities|**6**|9,007|
|**Total expenditure**||9,692|
|Net gains/(losses) on investments|**10**|(66,722)|
|**Net income and movement in funds**||2,132,633|
|**Reconciliation of funds:**|||
|Fund balances at 22 February 2024||-|
|**Fund balances at 31 March 2025**||2,132,633|
The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.
- 4 -
KENT FAMILY FOUNDATION
BALANCE SHEET
AS AT 31 MARCH 2025
2025
Fixèd assets
Investments
12
1,901,388
Currentassets
Cash al bank and in hand
232.745
Crgdltorn,. ansounts falllng due thin on• yoar
13
11.5001
N•t cwront a**ets
231.245
Total astsets less current liabllltl88
2.132,633
Thè fundB of the tru8t
Unrestricted funds
14
2,132,633
2,132.633
2q !q.It<
Th¢ finanrjal statements were apprtsved by the tN8tees on ......... ..... ...
Mr Nicholas Kent
Thi$tg0
## **KENT FAMILY FOUNDATION**
## **STATEMENT OF CASH FLOWS**
## **FOR THE PERIOD ENDED 31 MARCH 2025**
|**Notes**
**Cash flows from operating activities**
Cash generated from operations
**16**
**Investing activities**
Purchase of investments
Investment income received
**Net cash used in investing activities**
**Net cash generated from financing activities**
**Net increase in cash and cash equivalents**
Cash and cash equivalents at beginning of period
**Cash and cash equivalents at end of period**|**2025**
**£**
(90,984)
9,116|**£**
314,613
(81,868)
-
232,745
-
232,745|
|---|---|---|
- 6 -
## **KENT FAMILY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025**
## **1 Accounting policies**
## **Charity information**
Kent Family Foundation is a charitable incorporated organisation incorporated in England and Wales.
## 1.1 **Reporting period**
The Charitable incorporated organisation was incorporated on 24 February 2024 and the financial statements are presented for a 13 month period ended 31 March 2025.
## **1.2 Accounting convention**
The financial statements have been prepared in accordance with the trust's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The trust is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention.
## **1.3 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.4 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the trust.
## **1.5 Income**
Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 7 -
## **KENT FAMILY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025**
## **1 Accounting policies (Continued)**
## **1.6 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.7 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.
## **1.9 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
- 8 -
## **KENT FAMILY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025**
|**2**|**Income from donations and legacies**|||
|---|---|---|---|
||||**Unrestricted**|
||||**funds**|
||||**2025**|
||||**£**|
||Donations and gifts||2,199,830|
||||2,199,830|
|**3**|**Income from investments**|||
||||**Unrestricted**|
||||**funds**|
||||**2025**|
||Income from unlisted investments||8,249|
||Interest receivable||867|
||||9,116|
|**4**|**Other income**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2025**||
|||**£**|**£**|
||Net gain on disposal of investments|101|-|
|**5**|**Expenditure on raising funds**|||
||||**Unrestricted**|
||||**funds**|
||||**2025**|
||||**£**|
||**Trading costs**|||
||Other trading activities||685|
||||685|
- 9 -
## **KENT FAMILY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025**
## **6 Expenditure on charitable activities**
|**6**|**Expenditure on charitable activities**||
|---|---|---|
|||**Period**|
|||**ended**|
|||**31 March**|
|||**2025**|
|||**£**|
||**Direct costs**||
||Charitable donations|7,500|
||Computer running costs|7|
|||7,507|
||**Share of support and governance costs (see note )**||
||Governance|1,500|
|||9,007|
||**Analysis by fund**||
||Unrestricted funds|9,007|
|**7**|**Net movement in funds**|**2025**|
|||**£**|
||The net movement in funds is stated after charging/(crediting):||
||Fees payable for the independent examination of the charity's financial statements|1,500|
## **8 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the period.
## **9 Employees**
There were no employees during the period.
## **10 Gains and losses on investments**
||**Unrestricted**|
|---|---|
||**funds**|
||**2025**|
||**£**|
|Loss on investments|(66,722)|
## **11 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
- 10 -
## **KENT FAMILY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025**
## **12 Fixed asset investments**
||**Unlisted**|
|---|---|
||**investments**|
||**£**|
|**Cost or valuation**||
|Additions|1,968,109|
|Valuation changes|(66,722)|
|At 31 March 2025|1,901,387|
|**Carrying amount**||
|At 31 March 2025|1,901,387|
|**Creditors: amounts falling due within one year**||
||**2025**|
||**£**|
|Accruals and deferred income|1,500|
## **13 Creditors: amounts falling due within one year**
## **14 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**Incoming**|**Resources**|**Gains and**|**At 31 March**|
|---|---|---|---|---|
||**resources**|**expended**|**losses**|**2025**|
||**£**|**£**|**£**|**£**|
|General funds|2,209,047|(9,692)|(66,722)|2,132,633|
||2,209,047|(9,692)|(66,722)|2,132,633|
||2,209,047|(9,692)|(66,722)|2,132,633|
## **15 Related party transactions**
In the period, cash donations were received from trustee, Mr. Nicholas Kent, amounting to £322,702.
Non-cash donations were received in the period from the Nick and Lisa Kent Charitable Trust amounting to £1,877,128. Mr. Nicholas Kent and Mrs Lisa Kent are both trustees in the Charitable Trust.
- 11 -
## **KENT FAMILY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025**
|**16**|**Cash generated from operations**|**2025**|
|---|---|---|
|||**£**|
||Surplus for the period|2,132,633|
||**Adjustments for:**||
||Investment income recognised in statement of financial activities|(9,116)|
||Loss on disposal of investments|66,722|
||Non-cash donations received|(1,877,126)|
||**Movements in working capital:**||
||Increase in creditors|1,500|
||**Cash generated from operations**|314,613|
|**17**|**Analysis of changes in net funds/(debt)**||
The trust had no material debt during the year.
- 12 -