Charity registration number: 1208109
THE KENT FOUNDATION CIO TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
The Kent Foundation CIO Contents
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2—4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Comparative Statement of Financial Activities | 7 |
| Statement of Financial Position | 8 |
| Notes to the Financial Statements | 9—14 |
The Kent Foundation CIO Reference and Administrative Details For The Year Ended 31 March 2025
| Trustees | Mr S Wise - Chairman (appointed 01/10/2024) |
|---|---|
| Mrs L Hayes De Garcia (appointed 01/10/2024) | |
| Mr S P Mahon (appointed 01/10/2024) | |
| Mrs L A Game (appointed 01/10/2024) | |
| Mr M D Pay (appointed 01/10/2024) | |
| Mrs E J Jenkins (appointed 01/10/2024) | |
| Charity Number | 1208109 |
| Independent Examiner | Fern Murphy MAAT |
| Abel Accounting Services Ltd | |
| 10A Long Beech | |
| Ashford | |
| Kent | |
| TN23 4XU |
Page 1
Trustees' Report For The Year Ended 31 March 2025
The Kent Foundation CIO
The trustees present their report and the financial statements for the year ended 31 March 2025.
Objectives and Activities
Aims and Objectives
The Kent Foundation exists to support young people aged 18–40 in Kent to start and grow businesses through free mentoring, training, and networking opportunities. Our charitable objectives are:
To advance education and training for young people in Kent
To promote entrepreneurship and economic development through mentoring and support
To recruit, train and support a community of volunteer mentors to guide young entrepreneurs.
Significant Activities
In 2024/25, our activities included:
One-to-one mentoring programmes Business development workshops Networking and collaboration events
Online training to over 200 people via our new “Idea to Income” course Outreach to schools, colleges, and business communities.
Public Benefit
The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
Achievements and Performance
Main Achievements
Key Projects Delivered
Helping Hands Project: Funded the development of a new online course, CRM system, and website. All milestones exceeded and completed by December 2024
- Dartford Means Business: £16,000 secured plus £4,000 prize fund. Delivered mentoring and a showcase event at Dartford Football Club in March 2025
Mentor Training Expansion: 31 new mentors trained through partnerships including Growing Kent & Medway
40th Anniversary Event: Celebrated in February 2025 with alumni, mentees, and stakeholders. Featured in Kent Life Magazine and Kent County Council social media.
Social Media Highlights
14% increase in followers, with good engagement rates across Facebook 8.66%, Instagram 7.99% and LinkedIn 10.5%. Our top-performing content: event coverage and mentee success stories
Key Performance Indicators
Metric | 2023/24 - 2024/25
Social Media & Website Reach | 138,000 - 152,000 Supported Young People (18–30) | 143 - 213 Matched Mentees | 102 - 151 New Mentees | 25 - 68 Active Mentors | 92 - 100 New Mentors Trained | 18 - 31 Mastermind Sessions | 8 - 10 Networking Events | 12 -14
Page 2
The Kent Foundation CIO Trustees' Report (continued) For The Year Ended 31 March 2025
Financial Review
Financial Position
The charity has generating incoming resources totalling £95,126, of which £52,876 was unrestricted and £42,250 was restricted. Expenditure amounted to £91,929, of which £61,010 was unrestricted and £30,919 was restricted. A transfer from restricted funds to unrestricted of £4,421 occurred, resulting in a net surplus for the year of £3,197, consisting of a deficit of £3,713 on unrestricted funds, and a surplus on restricted funds of £6,910.
These compare to the previous year's incoming resources totalling £105,022, of which £56,339 was unrestricted and £48,683 was restricted. Expenditure amounted to £105,243, of which £59,529 was unrestricted and £45,714 was restricted. A transfer from restricted funds to unrestricted of £4,693 occurred, resulting in a net deficit for the year of £221, consisting of a surplus of £1,503 on unrestricted funds, and a deficit on restricted funds of £1,724.
The charity operated with a minimal staffing structure, outsourcing administrative, financial, and social media functions. Financial sustainability was supported through project-specific funding and strategic partnerships.
Reserves Policy
The trustees have established a reserves policy to ensure the charity’s financial resilience and ability to continue its activities in the event of unforeseen circumstances. It is the policy of the charity to maintain unrestricted reserves equivalent to three months of normal operating expenditure. The trustees consider this level to be appropriate to:
Provide a safeguard against fluctuations in income or unexpected increases in expenditure Ensure continuity of charitable activities and commitments to beneficiaries
Allow sufficient time to adjust operations in response to changes in funding or demand.
At 31st March 2025 the charity held unrestricted reserves of £32,299, which represents approximately 5 months of operating costs. The trustees are satisfied that this is in line with the stated policy and provides a prudent level of financial security.
Structure, Governance and Management
Governing Document
The Kent Foundation transitioned from an unincorporated trust (charity number 291559) to a CIO on 1 October 2024. The charity operates in accordance with its Governing Document, the Constitution of a Charitable Incorporated Organisation (Foundation Model), as approved by the Charities Commission.
Governance is overseen by a Board of Trustees, who meet regularly to review strategy, performance, and compliance. Day-to-day operations are managed by Caroline Hallett, our Director with the support of outsourced professionals and volunteers. Risk management procedures are in place, including safeguarding, data protection, and financial controls.
Trustee Selection Methods
Under the provisions of the charity’s governing document, the Chairman of Kent County Council may, if he or she wishes, be appointed a Trustee and hold office whilst serving as Chairman of Kent County Council.
In addition to this arrangement, the Board of Trustees undertakes recruitment and appointment processes designed to ensure a diverse and skilled membership. As part of our commitment to robust governance and continuous improvement, The Kent Foundation conducts regular skills audits to ensure that board members, staff, and volunteers collectively possess the competencies required to fulfil their roles effectively and to identify areas for strategic development and succession planning.
Trustee appointments are made with regard to the needs identified through these audits, ensuring the Board maintains the expertise necessary to oversee the charity’s activities and fulfil its charitable objects.
Legal Compliance Statement
The Kent Foundation confirms that it has complied with its legal obligations under charity law during the financial year ending 31 March 2025. Specifically:
The charity operated in accordance with its governing document following its transition to a Charitable Incorporated Organisation (CIO) on 1 October 2024.
Trustees have acted in accordance with their legal duties, including:
...CONTINUED
Page 3
The Kent Foundation CIO Trustees' Report (continued) For The Year Ended 31 March 2025
Legal Compliance Statement - continued
Ensuring the charity is carrying out its purposes for the public benefit Complying with the charity’s governing document and the law Acting in the charity’s best interests Managing the charity’s resources responsibly Acting with reasonable care and skill Ensuring the charity is accountable.
Financial records and reporting have been maintained in accordance with Charity Commission guidance, and the accounts for 2024/25 have been prepared in line with the applicable accounting standards.
The charity has filed all required returns and updates with the Charity Commission and other relevant bodies. Data protection practices have been reviewed and updated in line with the implementation of a new CRM system, ensuring compliance with UK GDPR.
The trustees are satisfied that the charity remains in good standing and continues to meet all statutory and regulatory requirements.
Other Information
Plans for future periods (2025/26)
Consolidate growth from 2024/25 and maintain current levels of engagement Delivery of the new contract award “Grow in Gravesham” Review events and awards strategy Recruitment of Volunteer Ambassadors from recent alumni Expand mentor recruitment to address demographic shifts.
The trustees' report was approved by the board of trustees and signed on its behalf by:
Mr S Wise Trustee 7 October 2025
Page 4
The Kent Foundation CIO Independent Examiner's Report to the Trustees of The Kent Foundation CIO For The Year Ended 31 March 2025
I report to the trustees on my examination of the accounts of The Kent Foundation CIO (the Trust) for the year ended 31 March 2025.
Responsibilities and Basis of Report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and contents of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Fern Murphy MAAT 7 October 2025 Abel Accounting Services Ltd 10A Long Beech Ashford Kent TN23 4XU
Page 5
The Kent Foundation CIO Statement of Financial Activities For The Year Ended 31 March 2025
| Notes INCOME AND ENDOWMENTS FROM: Donations and legacies 4 Charitable activities 5 Investments 6 EXPENDITURE ON: Charitable activities 7 NET INCOME/(EXPENDITURE) Transfers between funds 17 NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 17 |
Unrestricted funds £ 300 52,340 236 |
Restricted funds £ - 42,250 - |
2025 Total funds £ 300 94,590 236 |
2024 Total funds £ 104 104,563 355 |
|---|---|---|---|---|
| 52,876 | 42,250 | 95,126 | 105,022 | |
| (61,010) | (30,919) | (91,929) | (105,243) | |
| (8,134) 4,421 |
11,331 (4,421) |
3,197 - |
(221) - |
|
| (3,713) 36,012 |
6,910 3,210 |
3,197 39,222 |
(221) 39,443 |
|
| 32,299 | 10,120 | 42,419 | 39,222 |
The notes on pages 9 to 14 form part of these financial statements.
Page 6
The Kent Foundation CIO Comparative Statement of Financial Activities For The Year Ended 31 March 2025
| Notes INCOME AND ENDOWMENTS FROM: Donations and legacies 4 Charitable activities 5 Investments 6 EXPENDITURE ON: Charitable activities 7 NET EXPENDITURE Transfers between funds 17 NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 17 |
Unrestricted funds £ 104 55,880 355 |
Restricted funds £ - 48,683 - |
2024 Total funds £ 104 104,563 355 |
|---|---|---|---|
| 56,339 | 48,683 | 105,022 | |
| (59,529) | (45,714) | (105,243) | |
| (3,190) 4,693 |
2,969 (4,693) |
(221) - |
|
| 1,503 34,509 |
(1,724) 4,934 |
(221) 39,443 |
|
| 36,012 | 3,210 | 39,222 |
The notes on pages 9 to 14 form part of these financial statements.
Page 7
The Kent Foundation CIO Statement of Financial Position As At 31 March 2025
| Notes CURRENT ASSETS Debtors 13 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 14 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS OF THE CHARITY Restricted Funds Unrestricted Funds TOTAL FUNDS 17 On behalf of the board |
Unrestricted funds £ 3,418 35,927 |
Restricted funds £ 35,083 2,077 |
2025 Total funds £ 38,501 38,004 |
2024 Total funds £ 515 40,599 |
|---|---|---|---|---|
| 39,345 (7,046) |
37,160 (27,040) |
76,505 (34,086) |
41,114 (1,892) |
|
| 32,299 | 10,120 | 42,419 | 39,222 | |
| 32,299 | 10,120 | 42,419 | 39,222 | |
| 32,299 | 10,120 | 42,419 | 39,222 | |
| 10,120 32,299 |
3,210 36,012 |
|||
| 42,419 | 39,222 | |||
Mr S Wise Trustee 7 October 2025
The notes on pages 9 to 14 form part of these financial statements.
Page 8
The Kent Foundation CIO Notes to the Financial Statements For The Year Ended 31 March 2025
1. General Information
The Kent Foundation CIO is a charitable incorporated organisation registered with the Charity Commission, registered charity number 1208109. The principal address is .
2. Statement of Compliance
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities Act 2011.
3. Accounting Policies
3.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention.
The charity is a Public Benefit Entity as defined by FRS 102.
On 1 October 2025, the activities, assets and liabilities of The Kent Foundation (charity number 291559) were transferred to a newly established Charitable Incorporated Organisation (CIO). The CIO is considered a continuation of the former charity, as the purposes, beneficiaries, and activities have remained the same and the transfer was made at book value.
In accordance with the Charities SORP (FRS 102), the financial statements have been prepared using the principles of merger accounting to present a true and fair view. As a result:
The prior year comparative information presented relates to the former charity.
The current year Statement of Financial Activities and Balance Sheet present the results and position of the continuing organisation as if it had always operated in its current form.
To aid comparability, the results for the split period in 2024 have been presented as a full year.
3.2. Going Concern Disclosure
The trustees have not identified any material uncertainties related to events or conditions that may cast significant doubt about the charity's ability to continue as a going concern.
3.3. Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds comprise unrestricted funds that have been set aside by the trustees for a specific purpose.
Restricted funds are to be used for specific purposes as laid down by the donor.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
3.4. Incoming Resources
All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
3.5. Donated Goods and Services
Kent County Council donates officers' time for directorial and administrative duties for which no monetary amount has been included in these accounts.
3.6. Resources Expended
Liabilities are recognised as resources expended when there is a legal or constructive obligation committing the Charity to the expenditure.
3.7. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
Page 9
The Kent Foundation CIO Notes to the Financial Statements (continued) For The Year Ended 31 March 2025
3.8. Government Grant
Government grants are recognised in the statement of financial activities in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the statement of financial activities. Grants towards general activities of the entity over a specific period are recognised in the statement of financial activities over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the statement of financial activities over the useful life of the asset concerned.
All grants in the statement of financial activities are recognised when all conditions for receipt have been complied with.
4. Income from Donations and Legacies
| . Income from Donations and Legacies |
|||
|---|---|---|---|
| 2025 | 2024 | ||
| Unrestricted | Total | ||
| funds | funds | ||
| £ | £ | ||
| Donations and gifts | 300 | 104 |
5. Income from Charitable Activities
| . Income from Charitable Activities |
||||
|---|---|---|---|---|
| 2025 | 2024 | |||
| Unrestricted | Restricted | Total | Total | |
| funds | funds | funds | funds | |
| £ | £ | £ | £ | |
| General activities | 52,340 | 42,250 | 94,590 | 104,563 |
Grants, included above, are as follows:
| Kent County Council University of Kent Canterbury Christchurch University Medway Council Henry Smith Charity Helping Hands Dartford Council GrowInGravesham |
Unrestricted funds £ 50,800 1,000 - - - - - - |
Restricted funds £ - - - - 10,000 - 21,000 11,250 |
2025 Total funds £ 50,800 1,000 - - 10,000 - 21,000 11,250 |
2024 Total funds £ 50,800 1,620 1,220 2,240 18,333 19,800 10,550 - |
|---|---|---|---|---|
| 51,800 | 42,250 | 94,050 | 104,563 |
6. Investment Income
| . Investment Income |
|||
|---|---|---|---|
| 2025 | 2024 | ||
| Unrestricted | Total | ||
| funds | funds | ||
| £ | £ | ||
| Bank interest receivable | 236 | 355 |
Page 10
The Kent Foundation CIO Notes to the Financial Statements (continued) For The Year Ended 31 March 2025
- Analysis of Expenditure
| 7. Analysis of Expenditure |
||||
|---|---|---|---|---|
| General activities General activities 8. Grants Payable General activities |
Activities undertaken directly £ 61,476 |
Grant funding of activities (see note 8) £ 14,400 |
Support costs (see note 9) £ 16,053 |
2025 Total £ 91,929 |
| Activities undertaken directly £ 79,556 |
Grant funding of activities (see note 8) £ 13,500 |
Support costs (see note 9) £ 12,187 |
2024 Total £ 105,243 |
|
| 2025 Grants to Institutions £ 14,400 |
2024 Grants to Institutions £ 13,500 |
During the year the charity awarded grants to beneficiaries participating in the various programmes. These grants were provided to support the continuation and development of beneficiaries’ businesses on completion of the project. The trustees consider that all grants awarded are consistent with the charity’s objectives.
| Yo Street Zone Other grants (individually immaterial) 9. Support Costs General administration: Computer software costs Computer and IT consumables Insurance Advertising and marketing costs Telephone and internet Independent examiner's fees Professional fees Subscriptions Bank charges Sundry expenses |
2025 £ 10,000 4,400 |
2024 £ 10,000 3,500 |
|---|---|---|
| 14,400 | 13,500 | |
| 2025 General activities £ 876 167 677 8,423 256 840 3,903 504 385 22 |
||
| 16,053 |
Page 11
The Kent Foundation CIO Notes to the Financial Statements (continued) For The Year Ended 31 March 2025
| General administration: Computer and IT consumables Insurance Advertising and marketing costs Telephone and internet Independent examiner's fees Professional fees Subscriptions Bank charges Sundry expenses 10. Independent Examiner's Remuneration Independent examination of the financial statements Other assurance services Tax advisory services Other financial services 11. Staff Costs Staff costs were as follows: Wages and salaries Social security costs Other pension costs |
2025 £ 840 - - - 840 2025 £ 52,891 1,044 1,296 55,231 |
2024 General activities £ 2,794 632 5,543 663 936 657 134 146 682 |
|---|---|---|
| 12,187 | ||
| 2024 £ 936 - - - |
||
| 936 | ||
| 2024 £ 66,509 722 1,649 |
||
| 68,880 |
No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.
- Average Number of Employees
Average number of employees during the year was: 1 (2024: 3)
- Debtors
| 3. Debtors |
||
|---|---|---|
| Due within one year Trade debtors Prepayments and accrued income |
2025 £ 34,250 4,251 38,501 |
2024 £ - 515 |
| 515 |
Page 12
The Kent Foundation CIO Notes to the Financial Statements (continued) For The Year Ended 31 March 2025
14. Creditors: Amounts Falling Due Within One Year
| Trade creditors Other taxes and social security Other creditors Accruals Deferred Income |
2025 £ 2,750 8,110 336 840 22,050 34,086 |
2024 £ 598 334 - 960 - |
|---|---|---|
| 1,892 |
15. Deferred Income
Deferred income movements in the year were as follows:
| Balance at the start of the period Income deferred in the current period Balance at the end of the period |
2025 £ - 22,050 |
2024 £ - - |
|---|---|---|
| 22,050 | - |
Income has been deferred where funding was received in advance of the related project activities. The deferral ensures that income is recognised in line with the period and duration of the project to which it relates, thereby matching funding to the associated expenditure.
16. Pension Commitments
The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund.
During the year the charge to the statement of financial activities in respect of defined contribution schemes was £1,296 (2024: £1,649).
At the statement of financial position date contributions of £335 (2024: £0) were due to the fund and are included in creditors.
17. Movement in Funds
| Unrestricted funds General: General unrestricted fund Restricted funds Dartford Helping Hands Henry Smith Charity Grant GrowInGravesham Total restricted funds Total funds |
As at 1 April 2024 £ 36,012 - 3,210 - - |
Income £ 52,876 21,000 - 10,000 11,250 |
Expenditure £ (61,010) (17,497) (2,292) (10,000) (1,130) |
Transfers £ 4,421 (3,503) (918) - - |
As at 31 March 2025 £ 32,299 - - - 10,120 |
|---|---|---|---|---|---|
| 3,210 | 42,250 | (30,919) | (4,421) | 10,120 | |
| 39,222 | 95,126 | (91,929) | - | 42,419 |
Page 13
The Kent Foundation CIO Notes to the Financial Statements (continued) For The Year Ended 31 March 2025
| Unrestricted funds General: General unrestricted fund Restricted funds Dartford Helping Hands Henry Smith Charity Grant Total restricted funds Total funds |
As at 1 April 2023 £ 34,509 4,934 - - |
Income £ 56,339 10,550 19,800 18,333 |
Expenditure £ (59,529) (10,791) (16,590) (18,333) |
Transfers £ 4,693 (4,693) - - |
As at 31 March 2024 £ 36,012 - 3,210 - |
|---|---|---|---|---|---|
| 4,934 | 48,683 | (45,714) | (4,693) | 3,210 | |
| 39,443 | 105,022 | (105,243) | - | 39,222 |
Dartford
The Dartford Fund is for a specific project that is being funded by Dartford Borough Council. The program is open to anyone aged 18 to 30 who has a business idea, or is already trading and wants to grow their company. It provides workshops, support tailored to their business needs and full access to the Charity's business mentoring service.
Helping Hands
The Helping Hands project was a collaboration with Kent County Council to deliver a series training and skills workshops to young people accross the county.
Henry Smith Charity Grant
Henry Smith charity grant is to fund staff salary costs with a partnership organisation. This activity has now ceased.
GrowInGravesham
This fund is for delivering a project in collaboration with Gravesham Council and is designed to support entreprenuers, social enterprises and micro businesses.
Material transfers between funds
Transfers between funds are to cover expenditure incurred on the project which exceeded the restricted income available. In line with the Charity’s policy, where restricted projects are overspent, the deficit is met from unrestricted funds to ensure that all obligations under the project are fully met. These transfers have no effect on the total funds of the Charity, but reduces unrestricted funds and eliminates the deficit on the restricted fund.
18. Transactions with Trustees
None of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity during the current or previous year.
No trustee expenses have been incurred.
- Related Party Disclosures
The total employee benefits (comprising gross salary, employer’s National Insurance contributions, and pension contributions) paid to the charity’s key management personnel during the year are as follows: £50,417 (2024: £38,210)
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