Charity registration number.. 205797
Kingsbury Charity
Annual Report and Financial Statements
for the Year Ended 31 December 2024
X¢inadin Audit Limited
Chklrtered Accountant5
Statutory Auditor5
Leavesden Park
5 Hercules Way
Watfoid
Hertfordshire
WD25 7GS

Kingsbury Charity
Contents (continued)
Rcfcrcncc and Admini8trativ¢ Dctai18
TrustCC8' Rcport
2to4
Staternent of Trustees, Responsibilities
Investment Managers Annual Investtnent Review
Independent Auditors, Report
7t0 10
Statement of Financial Activities
Balance Sheet
Not¢s to th¢ Financial Statetn¢nts
13to24

Kingsbury Charity
Reference and Adminislrative Details
Chairperson
Mr G Eldridge (Appointed 22,.'0612024)
Reverei)d S SLhuil-Brewer (Resigned 19105120241
205797
Charltv Reglstratlon Number
Principal Office
29 Bowater Close
Kin¥F5bury
London
NW9 OXD
Trustccs
Mrs A Hopkins
Rcvcrcnd S Schuil-Brcwcr
Mr G Eldridge
Mrs S Bhudia
Mr P Gururajan
Miss K Mutphy
Ms P H¢waviscnti
Hon. Treasurer
Clerk to Trustees
Mrs A Little (Appointed 31103120241
Auditor
Xeinadin Audit Limited
Chartered Accountants
Statutory Auditors
Leavesden Park
5 Herculeb Way
Watford
H¢rtfordshir¢
WD25 7GS
Snlicitlbrs
CameTOllS lone5
Television House
269 Field End Road
Ruiblip
Middlestx
HA4 9XA
Bankers
HSBC
544 Kingsbury Road
Kingsbury
London
NW9 9EE
CAF Bank Ltd
25 KinbTS Hill Avenue
Kings Hill
Wesl Malling
Kent
ME194JQ
Rathbones Group PIC
30 Circ%ham Strcct
London
EC2V 7QN
Investment Managers
Page I

Kingsbury Charity
Trustees, Report
Tl)e trustees piesent tl)e annual report together with the financial statements of the charity for the year ended 31
December 2024.
Obj¢ctive$ and activities
The main objectives of the Chariiy are to provide relief for those in need andlor in sickness of, either generally
or individually, persons resident in or in certain circumstances close lo ihe Ancien¢ Parish of Kingsbury. Subject
to the approval of the Charily Commissioners the Truslees may provide land and buildings to be appropriaied
and uscd as 31mshouscs for th¢ accommodation of r¢sid¢nts.
Thc Charity 3¢hicvcs its objcctivcs by thc pNdcnt managcmcnt of its asscts and invcstmcnts, to cnsurc that thc
a]mshn￿SeS are maintained to a hight standard and as near to full occupancy as posqible. Also, that sufficient
funds are available to make grants to worthy eause8 falling within the C.harity's objectives.
Tlie trustees confirm tliat they have coinplied with the requireinents of section 17 vf the Charities Act 2011 to
have due rebFard to the public benefit bFUld￿lle published by the Clwity Commission for England and Wales.
Financial review
Tlie Charity's income and expenditure for the year are shown in the statement of Fil￿nCial Activities (pabie 10).
wliich 5how5 total income of £355,56212023.. £373,062) aiid total expendituie of £665,32912023.. £331,588),
givii)g rise to net expenditure ol. £309,767 (2023". £41.474 net income). In addition, there were gains on
invesln)ents of £531,731 (2023". £475.347). The total lunds at 3 1st Deceinber 2024 were £13,352,403 12023..
13,130,439). Moveinent in funds is shown in note 16.
The Trustees do not Lonsider the cost of a professional valuation of the property assets to be justified. but they
are satisfied that their realisable values bubbtantially more than their hibtolic Lostb.
The maintenance contributions made by all residents, usually paid monthly, have been increased this year
flillowing a review undeffaken to update the contributions to reflect current market condiiions and to reflecr rhe
need to cover the costs of maintenance and adminigtration. Thig process will be repeated annually in future
years, and contributions will be reviewed in line with siandard Almhouses, practice.
The rolling programmc of maintcnancc, rcdccoration, and rcfurbi%hmcnt to all thc Charity's forry-onc flats
located in Bowater Close and Stubbs Close, continues. The focus of this year's maintenance spend was to
undertake the ￿'Orks identified in risk assessments. There was a major gpend on improvements to the water
system in the flats at Bowater Close to address issues identified in a legionella risk assessment and to improve
the showers to all bathrooms.
Next year Tnajor works are planned for improvement to the car park and landscaping at Bowater Close and for a
secllrity barrieT to the entrance of Stubbs Close.
Page 2

Kingsbury Charity
Trustees, Report (continued)
Trustees #nd oifieers
The trnstees and officers serving during the year and since ihe year end were as follows..
T[￿Ste£s..
Mrs A Hopkins
Reverend S Schuil-Brewer
Mrs A Little (resigned 31 March 2024)
Mr G Eldridge
Mrs S Bhudia
Mr P Gururajan (appointed 23 March 2024)
Miss K Muryhy (appointed 9 Novernber 2024)
Chairperson..
MrG Eldridge
Strueture, %ov¢rnanee and management
Thc Charity is govcrn¢d by a rcvis¢d sch¢m¢ of tlic Charity Commissioncrs, dat¢d 2nd Octobcr 1986, giving
effect to the absorptioii of tlie King5bury Disthct Nursing Aid Fund by the Kingsbury Charitie5 of Richard
Bowater and Francis Perry Stubb5.
Although the Charity has remained an unincoTporated association since its inception, by virtue of the granting of
a certificate of incorporation sealed by the Charity Commis5ioner5 on 21st October 1993, the Tn]5tee5 are
collectively a corporate body.
Tlie Trustees nieet regularly, usually every four to six weeks. either in person or virtually, to discuss the
manakFement of the Charity, its activities, and finance5. New Trustees are appointed by the Ttustees by way of a
show of hands and the ChdiTnian lias the tasting vote.
Two non-voting meinbers aiiend the Trusiees. meetings - the Secretary and the Treasurer.
The B()urd
In respect of the make-up of the Board of tru8tees, Prakash Giirurajan & Kellie Murphy joined the board in 2024
and brought with them their expertise in management and social housing. The board now has a complete quots
of members, and the board is currently chaired by Geoff Eldridge.
Rlsk management
An ongoiiig process of examining the major strategic, busine55 and operations risks wa5 undertaken, and new
system5 and prucesbes are now documented and in place. Work will continue in thi5 area in the following year.
Outstanding Business risk assessments are being undertaken and a 5tTategry for the future will be developed.
Page 3

Kingsbury Charity
Trn$tecs' Report (continued>
Dis¢l•svre of inf•rLwition to auditor
Each tnJsTre has tgken steps thai th¢y OU￿1t to have taken ttwtee in order 10 make themselves a￿re of any
r¢levant auth't infomation at]d to e5tsblish that the chanty's auth.tor is awar¢ of that inForniaiion. The trustees
confitm that there is llo relevomt ￿￿Orn￿atIo￿ that they know of and of whith they know the auditor 15 unaware
The ￿t￿Val report w approved by the ttUStees of the charity on?/ .
d ggned on its behalf by..
G Eldrid8e
Ch￿rPerson tyusÈee
Pag¢ 4

Kingsbury Charity
Statement of Trustees, Responsibilities
The trustees are ￿Sp￿ible foi PTeparing th¢ trusl¢es' r¢port and the financial statenmts in accordance with the
United ￿"ngdorn Acwunting Standards (United K]"ng&sm C*nerally Accepted Accountin8 Prartice) and
applithle law and regu]ations.
The law applicable to ¢hariti¢s requtres the tr￿￿teeS to prepare finaDciaE ststement5 for each financial year thich
give a true and fakr view of the stat¢ of affairs of the charity and of the incoming resources and applicatson of
r¢sourc¢5 of the charity for that period. In prepann8 these financial statem¥Et8 the tnLSte¢s ar¢ required to..
select suitable accounting policÉe5 and then apply th¢m consistently.
observe the rnethods and principles in the Charities SORP.
mak¢ Judgem￿ts and estimates that are re￿onable and prndent.
state whether 4)pli¢able &couuting 5tandar(15 have been followed subj¢L* to atry material departures
disdosed and explained in the financial statements." and
prepare the fman¢ial statements on the going conc¢m basis lfflless it is inappropriate to pr¢sume that the
¢hArity wll rATrntinue in bustness.
The trustees are iesponsible for keeping proper accounting recor(Ls that d￿lose with Fe&wnable accuwy at aDy
time the finat)ciat position of the charity and enable them io ensure that the financial s￿erne￿ts comply the
Charities Act 2011. the chariti￿ (Accounts and Reports) Regulations 2008. and the provisions of the
constitutton. The tTrL￿eeS are also responsible for saf¢8uardJng th¢ &ssels of th¢ tharity hel￿¢ for taklng
rewnable steps for the preveniion and detection of fraud and other irregtharities.
The tTus*es are responsible for the maintenance and integtity of the financial infomiats'ort included on the
dwi"ty's WEb5Lte. Le￿5[atiOn governin8 the pr¢paration 8nd disseminotion of fin3n¢tal statemmts rnay differ
from leyjslation in other jUTisth'thions.
Approved by the tr￿ske5 of the chan.ty on ..
.. and s18n￿l on its bdmlf by..
GEI
ridge
Chairperson and tr￿stee
Page 5

Kingsbury Charity
Investment Managers Annual Investment ReTriew
Rathbones and It)i'estec Wealtl) & Investinent haN'e coine together alld tl)e combined business has inheiited tl)e
Rathbones name. The poitlolio Inat)aged by Rathbones has a mediuin-l)igl) risk sti"ategy and is invested loi tl)e
long-tenn to geneiate attiactive ietutns tts benefit tlie charity's beneliciaries. The Kingsbury Chaiity investments
had dl)Other solid year ii) 2024 and generdted il totGiI retun) of +7.3 /0, net ot. fees. This retUTn ahead of
inllation, and just short ol'the ARC Charitieb Steady Grvwth Index, whiLh produced a retUTll of +8.2 /. The vear
was dominated by ihe continued rise of Artificial Intelligence relaied stocks and. toi¥'ards the year end. rhe
re-eleciion of President Trump for a second tem]. Financial siocks, in particular, rallied strongly on the
expeciation of his deregulalion and lower corporate taxation agenda. Bond marketb ivere fairly subdued, as
inleresl rale cuts did nol malerialise as hoped. held higher by inflaiion remaining above iargel. The porifolio is
managed on a global basis. and so able to panicipate in the strength of the rechnology sector, however
Rathboncs is conscious of thc incrcasingly conc¢ntratcd rta￿r¢ of thc cquity ind¢x which has r¢sultcd from this
strength. Rathbone% remain Confident that a diversified qtrategy, Comprising equities, bonds and altemative
assets IS 8llltahle to achieve the long-term aims of the Charity.
Rathbones Group PIC
Page 6

Kingsbury Charity
Independent Auditor's Report to the Members of
Kingsbury Charity
Opinion
We have audited the financial stateinents of Kingsbuiy Charity (the 'charity') for the year ended 31 DeceTnber
2024, NTrhich COmPTiSe the Statement of Financial ActiN'ities, Balance Sheet, and Note5 to the Financial
Stateinents, including a 5uinmary of significant accounting policie5. The financial reporting frainework that ha5
been applied in their preparation is United Kingdom Accounting Standards, comprising Charitie5 SORP FRS
102 Tlie Fil￿nCial Reporting Standard applicable in the UK and Republic of IEeland' and applicable law (United
Kingdom Generally Accepted Accoiinting Practice).
In our opinion the financial statements..
givc a truc and fair vicw af thc Statc of the charity's affair% as at 31 Dcccmbcr 2024 and nf it8 incoming
resource5 and application of resources, including its income and expenditure, for the year then ended.,
hdve been piopeily piepiiied in {￿Co[danCe with United Kin¥doin GeneTdlly Accepted Accountin¥ Practice;
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We cnnductcd our audit in a¢¢ordan¢¢ with Int¢rnational Standard8 on Auditing (UK) IISAS IUKI) and
applicable law. OUT responsibilities under those Standards are further described the auditor Tespnn.%ibilities for
thc audit of thc financial statcmcnts %cction of our rcport. We are indepcndcnt of thc charity in accordancc with
thc cthical rcquircmcnt.% that arc Tclcvant to our audit of thc financial statcmcnts in thc UK, including thc FRC'S
Ethical Standard, and we have fulfilled our other ethical respon%ibilitie% in accordance with these Tequirement%.
We believe that the audit evidence ive have obtained 1% Sufficient and appropriate to provide a basi% for our
opinion.
ConLlusions relating to Luncvrn
In auditing the financial statements, we have concluded that the trustees use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the woik Th'e have perfotrned, we ha￿.£ not ideiitified aiiy material uncertainties relating to events or
condition5 that, individually or collecti￿.£[Y, may cast significant doubt on the charity's ability to continue as a
going coi)cern for a period of at least twel￿.£ months from when the original financial stateinents were authorised
for i5SUe.
Our responsibilities and the resplinsibilities of the trustees with respect to going concem are described in Ihe
relevant sections of this report.
Other Informatlon
The trusiees are responsible fL)r rhe oiher infomiatiL)n. The other information comprises the infomialion included
in the annual report, other than the finan¢ial statements and our auditor'8 report thereon. Our opinion on the
financial statements does not cover the other inforniation and, except to the extent otherwise explicitly stated in
our report, we do not express any fom) of assurance ¢on¢lusion thereon.
In connection with our audit of tlie financial statetnet]ts, our responsibility is to read the other infoTmation and,
in doinbl 50, consider whether the other Infom￿tiOn 15 Inaterially inconsistent with the financial stateineiits or
our knowledgFe obtained in the audit or otherwise appear& to be inateTiJlly mibstated. Ifwe identify such material
incon51Stencies 01 apparent mateiial Inis5tatenients', we are iequired to detetmine whether there is a Tnaterial
misstateTnent in tlie financial 5tatement5 or a niateiial Tlli5StateTnent of tlie other infoTniation. Jf, based on the
work we have performed, we conclude that there is a inateridl inisstatement of thi5 Other inforination, we ale
required to report that fuct.
We have nothing 10 report in this regard.
Page 7

Kingsbury Charity
Independent Auditor's Report to the Members of
Kingsbury Charity (continued)
Matters on which Me are required to report by exception
In the light of our knowledge and understanding of the charity and its environment obtained in the course of the
audit, we have not identified material misstatement5 in the T[￿St￿S, Report.
We have nothing tv repurt in iesPeLt ot the following matters where the Charities (Accounts aiid Report)
Rt¥ulHtiuns 2008 requiTeb US io repvrl lo you if. in uur opinion".
ad¢quatc accounting r¢cords hav¢ not bc¢n kcpt, or rctyrns adcquat¢ for our aiidit havc not b¢¢n r¢¢civcd
from branch¢s not visitcd by us,. or
the fiiiancial 5tdten)ents are not in agreement with the ac¢oui)ting records and returns: or
certain disclosures of trustees rernuneration specified by law are not niade; or
we have not Teceived all the infonnation and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees. Responsibilities (set out on page 5), the trustees are
rcsponsiblc for thc prcparation of th¢ financial stat¢m¢nts and for bcing satisficd that th¢y giv¢ a truc and fair
view, and for such internal control as the trustees deterniine is necessary to enable the prepararion of financial
statements that are free from material misstatement, whether due to fraud or error.
In preparinbF the financial stateinents, the tTUStees are iesponsible foi assessing the charity's ability to continue a5
a goiTlbF concem, disclosinbF, as applicable, Tnatter5 rel￿ted to bFoing concern and Usillb the goin(T conceTll basi5 of
accountinbF unless the t[￿ste¢S eithei intend to liquiddte the charity or to cease uperation5, or have no realistic
alternative but to do so.
Auditor Responsibilities for the audit of the fiThancial statement
We Iydve been appoinied as auditor linder section 144 of tl)e Charities Act 2011 and report in accordance with
the Act and relevant iegulations made or having effect thereui)der.
Our objectiN'es are to obtain reasonable assurance about whether the fii)ancial statements as a whole are free
trom material n)isstatement, whether due to fraud 01 etror. and to Issue ai) auditor's report that includes our
opinion. Reasonable assurance is a high level of assuiance. but is i)ot a guaiantee that an audit conducted in
accordance with ISAS (UK) will alwayb detect a material misstatement when it exibts.. Misstatements can aTise
from fraud or error and are considered material if, indipidually or in ihe aggregate, Ihey could reasonably be
expected io influence the eclinomic decisions of users iaken on the basis of ihese financial stalemenls.
The extent to which oiir procedures are Capable of detecting irregularities, including fraud is detailed below..
Page 8

Kingsbury Charity
Independent Auditor's Report to the Members of
Kingsbury Charity (continued)
Our approach to identifying and assessing the risks of material niisstatement in respect of irregularities,
inLluding fraud and non-compliance with laws ai)d regulationb, was as lollows..
the engagement partner ensured that the engagement team collectivelv had the appropiiate competence,
Lapabiliiies and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the charity through discussions with trustees and other
managemenr, and from our commercial knowledge and experience of the sector.
we focused on specific laws and regulations which we considered may have a direct material effect on rhe
financial statements or the operations of the chariry, including the Charities Act 2011, anti-bribery,
environmental and health and safery legislation.
Ivc a%%c%%cd thc cxtcnt nf cnmplianec with thc law% and rcgulatinns idcntificd abovc through making cnquirics
of managcnient and in8pccting Icgal corrc8pondcnce; and
idcntificd laws and r¢gulations w¢r¢ eommunieatcd within thc audit tcam r¢gularly and thc t¢am wmaincd
alert to instances of non-¢ompliance throughoui the audit.
We assessed the susceptibility of the charity's fjnancial statements to material misststement, including obtaining
an understanding of how fraiid might occur, by..
making enquiries of nianagement as to wliere they considered there was sllsceptibility to fraud, their
kt]owledge of actual, suspected and alleged fTaud,' and
considcring the inteTnal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations.
To address the risk of fraud through rnanaganent bia5 and override of contTols, we..
performed analytical procedures to ideiitify any unusual or unexpected relatl0115hip5;
tested joutnal entries lo identify unusual transactions..
assessed ivhether judgements and assuinptions made in detemining the accounting estiniaies were indicative
of potential bias,. ai)d
investigated the rationale behind significant or unusual transactions.
In response to the risk ol. irregulaiities and non-compliance with laws and regulatioiis, we designed procedures
whiLh included, but weie not limited tts-.
agreeing financial statement disclosures to underlying supporting documentation,.
reading the minutes of meetings of those charged with gLivernance,'
enquiring of management as to actual and potential litigation and claims; and
reviewing correspondence with relevant regulators, and the charity's legal advisors.
Therc arc inhercnt limitation% in our audit proccdurc% dc%cribcd abovc. The morc rcmovcd that law% and
rcglllations arc from finaneial tran8action8, the Ics8 likcly it ]% that wc ￿'0￿ld bccomc am'arc of non-eompliancc.
Auditing standard8 al%0 limit thc audit procedures rcquircd to idcntify non-compliancc I￿.ith laws and rcgulations
to enquiry of the trnstees and other management and the inspection of regulatory and legal eorrespondence, if
any.
Material misstatements tliat arise due lo fraud can be haTder to detect than those that arise from error as they
may involve deliberate concealinent or collusion.
A further description of our responsibilities is available on the Finaii¢ial Reporting Council's website at..
ww.frc.org.ukjauditorsresponsibiliiies. This description fomjs part of our audiior's report.
Page 9

Kingsbury Charity
Independent Auditor's Report to the Members of
Kingsbury Charity (continued)
Use of our report
This report is inade solely to the charity trL15tee5, a5 a body, in accordance with section 144 of the Charities Act
2011 and regulation5 made under Section 154 of that Act. Our audit WOTk has been undertaken 50 that we might
state to the trustees those matters we are required to State to trustees in all auditors, report and for no other
pU￿ose. To the fullest extent perniitted by law, we do not accept or assume responsibility to anyone other than
the charity and its trustee5 a5 a body, for our audit work, for thi5 report, or for the opinions we l)ave fonned.
lTrJlÈJihJ yb,- L4
Xcinadin Audit Limitcd
Chartered Accountants
Statutory Auditor
Leavesden Park
5 Hercules Way
Watford
Hertfordshire
NVD25 7GS
Date......3..111012025
Xeinadin Audit Limited is eligible for aPLX)intmeni as auditor of the charity by virtue of its eligibility for
appointment as auditor of a company under section 1212 of the Companies Act 2006.
Page 10

Kingsbury Charity
Statement of Financial Activities for the Year Ended 31 December 2024
Unrestrieted
funds
Restriettd
funds
Total
2024
Total
2023
Note
Income and Endowments from:
Invc%tinent income
Charitable income
64,454
108,5X9
182,519
246,973
108,589
272,510
100,552
Total in¢ome
173,043
182,519
355,562
373,062
Expendiknre OD:
Raising lunds
Charitable aciivities
Governaii¢e costs
(12,214}
(267,8401
(61,089}
(36,8191
(287,3671
(49,033}
(555,2071
(61,089}
143,200)
(236,1601
152,0281
Total expenditure
(341,1431
{324,1861
(665,3291
(331.5881
Net {expenditure}/income
Gross transfers between fi￿dS 16
(168,1001
{113,7201
(141,6671
113,720
(309,767)
41,474
Gainsl(losses) on flxed assets
Gains/llos8¢s) on in￿'¢stm¢lltS
132,454
399,277
531,731
475,347
Nct movcmcnt in fund
(149,3661
371,330
221,964
516,821
Reeoneiliation of funds
Total funds brought forward
1,776,647
11,353,792
13,130,439
12,613,618
Total funds carried forward
16
1,627,281
11,725.122
13.352,403
13.130,439
All of the charity's aciivities derive from continuing operations during the above two periods.
The funds breakdown for 2023 is shown in noie 16.
The notes on pages 13 to 24 forni an integral part of these financial statements.
Pagell

Kingsbury Charity
(Registration number: 205797)
Balance Sheet as at 31 December 2024
N•)¢e
2024
Fixed *58ets
Tan￿ble ass¢ts
Investments
1.888.053
10.181.091
1,888.053
9.676.552
12
I2.(￿9.144
11.564.605
C¥rrent x¥ets
Debtors
Cash at b￿k and in hand
13
14
8.346
.334.238
8.439
1.608.405
1,342,584
1.616,844
Crnlit•r5: Amounts
dye i¥ithin one ye*r
15
59.325
1.283.259
1.565.834
13.352.403
IJ,130,439
Funds oftht thwlty:
Re8tritted itteomt hndg
R¢strided fim¢ts
11.725,122
11,353.792
1.627281
1.776 647
TOW fwid•
16
13.352.403
13.130.439
The financiat ststeM￿ts on pa8es i i to 24 wrre #PPToved by th¢ trwku, aDd lluthoris￿ foT tssue on
.. and signeAI ort their behalf bj..
G Eldndge
The twAe5 rn PJ8¢s 13 to 24 form •) int¢8ral partof these finanaal sta*meDts.
Pa8e 12

Kingsbury Charity
l¥Jotes to the Finaneial Statements for the Year Ended 31 December 2024
l Accounting policies
Statement of eompll#nce
The financial 8tatcmcnt8 hav¢ b¢en prepar¢d in accordanc¢ with th¢ %econd edition of th¢ Ciwities Stat¢m¢nt of
Recotnmended Practice issued in Octi)b¢r 2019, the Financial Reporting Standard applicable in the United
Kiiigdom and Republic of Ireland IFRS 102) and the Charities Act 2011.
Basis of preparation
Kiiigsbury Charity n)eets the definition of a public benefit entity under FRS 102. Tlie accounts (financial
stateiiientsl have been prepared under the historical c05t coiivention with items recogt]ised at cost or transaction
value unless otherw'ise stated in the relepant note(sl to these account5.
Going concern
The tnistees consider that there are no material uncertainties about the charity's ability to continue as a going
¢on¢etn.
Income and endowments
Legacie5
Tliese are re¥arded Cdpitdl receipts L￿d iiie credited to capitsl account.
lrtveslmeni income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend
duc.
EKpendlture
All ¢xpcnditurc is rc¢ognis¢d onec thcr¢ is a Icgal or Constrnctivc obligation to that cxp¢nditurc, it 18 probablc
settlement is required and the amount can be measured reliably. All costs are allocated to the applicable
expenditure heading that aggTegate similar costs to that category.
Irrecoverable VA T
Ltrecoverable VAT is chargied against tl)e categiory of resources expended for which it was incuffed.
R4isingfMMds
Thc8c arc co%ts incurrcd in thc managcmcnt of invc%tmcnts.
Chavilable uctivilies
Ch￿rItable expenditure Lurnprises thobe cvsts incurred by tht Lharity in the delivery of its. (Ictivititb serviLeS
fur itb benttlLILiritb. It includes both Lustb that be all￿ated diTectly to such aLtivities and those costs of an
indireLt nature neLessary to supptsrt them.
Grull¢provisioiis
Provi%ion% for grant8 arc madc whcn thc intcntinn tn makc a grant haq bccn cnmmunicatcd tn thc rccipicnt but
thcrc 18 llnccrtainty about cithcr thc timing of thc grant or thc amount of grant payablc.
Page 13

Kingsbury Charity
Notes to the Financial Statements for the Year Ended 31 Deeember 2024 {eontinued)
Governance costs
These include the costs attributable to the charity's compliance with constitutional and statutory reqllirement5,
including audit, stTategic management and tTUStees meetings and Teimbursed expenses.
Taxation
A5 a nOn-t￿dIng registered charity. Kingsbury ChaTlty is exempt from UK Corporation Tax on its income and
realised capital gains.
Depreeixtinn and
Fixed assets. othei than Freehuld prtsperties. ale notmally ￿Titten dow￿ to a noihinal figure in the year they ale
acquired or the followin¥ year.
DepreLiativn Is nut Lharged oil Freehvld propertieb ab the residuiil value is Loiisidered to be higher than the
L£wing value in the fin￿lia1 btstemtnts.
Fixed asset iDve5tments
Fixed asset invesiments. other than programrne relaied investmenis, are included at market value ai the balance
sheet date. Realised gains and losses on investments are calculaied as the dilTerence bet￿een sales proceeds and
their market value at the start of ihe year, or (heir subsequeni cost. and are charged or credited to (he Siatement
of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market N'alues during the year and are Lredited or
Charged to the Statement of Financial Activities based on the market value at the year end.
Debtors
r)ebtors comprises contributions owed by residents and prepayments of expenses.
Cash and cash equii'#leNtS
Cash and cash equivalents cornprise cash on hand and call deposits, and other short-temi highly liquid
investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of
change in value.
Trade ereditors
Tradc crcditors arc obligations to pay for goods or s¢rvic¢s that hav¢ bc¢n a¢quir¢d in thc ordinary ¢ours¢ of
opcratii)ii% from supplicr%. Accounts payablc arc cla%sificd as currcnt liabilitic% if thc di)cs nat havc an
unconditional l'ight, at thc cnd of thc rcporting pcriod, to dcfcr scttlcmcnt of thc crcditor for at Ic&%t twclvc
months aftcr thc rcporting datc. If thcrc 18 an unconditional right to dcfcr scttlcmcnt for at Icast twclvc month
after the reporting date, they are PTe5ented as non-cun.ent liabilities.
Fund structure
Ut]restiicted incoine funds are general funds that are available for use at the trustee5 discretion in furtherance of
the objective5 of the charity.
Restricied income funds are those dlinated for use in a particular area or for specific purposes. the use of which
is restricted to that area or purpose.
Page 14

Kingsbury Charity
Notes to the Financial Statements for the Year Ended 31 Deeember 2024 {eontinued)
ExlrnordiMa￿y Repoir Fuiid (FRF)
This is a reserve fund for fiitUTe rnajor expenditure to which transfers are made from the Income and
Expenditure Account. The ￿nd should be invested with the aiin on maxirni5e capital gr0￿h including
Te-inveslJnent of income. It can be dra￿￿ upon to rneet TnajoT Iteins of TepaiT.
Transfers fiDm income to the fund are mandatory and are made annually to meet the ininimuin requirements of
the Charity Cominissioners, as aineiided from lime to tiine to apply to dwellings iii the London aTea.
Cyclic41 Moirttenaiice Fund (CMF)
Tiii5 lund. to whiLli transfeTS ale niade froin the Income and Expendituie Account, 15 retdined by the trustees to
meet inaintendiice Occu￿]ll¥ dt ieguldl Intetvdlb e.¥. inteTnal {refurbishing kitLhens and b&tthi"ooins}, external
redecoiation and the cost of profebsional fees such ds for Quinquennial Jnspections.
Annudl trdnsfers fro]n inLurne ure ￿de ilt the rdte for dwellin¥s in the London ￿￿ed.
Routine Mointenance Fund (RMF)
In essence an equalisation accouni to even out the expense of routine maintenance of the flats from year to year.
The annual charge is made ai the maximum level allowed by the Charities Commission for rental budgetary
purposes which is amended from time to time and is applicable to dwellings in the London area.
Page15

Kingsbury Charity
Notes to the Financial Statements for the Year Ended 31 Deeember 2024 {eontinued)
2 Investment income
Unrestricted
fuNd5
General
Restricted
funds
Total
2024
Interest receivable and si]nilar income,.
Intcrcst ￿Ceivabl¢
t)ividends receivable
15,519
48,935
35,016
147,50.3
50,535
196,4.18
64.454
182,519
246,973
Unrestricted
funds
General
Restricted
funds
Tot81
2023
Interest receivable and similar income,.
Interest receiN'able
DiN'idend5 receivable
36,260
42,772
64,543
128,935
100,803
171,707
79,032
193,478
272,510
3 Income from ¢harit4ble gctivities
Total
2024
Stubbs Close
Bowater C105e
Contributions from r¢sid¢nts
32,862
75,727
108,589
Total
2023
Stubbs Close
Bowater C105e
Contributions from residents
30,200
70,352
100,552
4 Expcndlturc on ralsing funds
a) Investment management C(bSt$
Unrestrleted
funds
Gentral
Restrieted
funds
Total
funds
Investment inana¥Fetnent costs
12,214
36,819
49,033
Total for 2024
12,214
36,819
49,033
Total for 2023
10,761
32,439
43,200
Page 16

Kingsbury Charity
Notes to the Financial Statements for the Year Ended 31 Deeember 2024 {eontinued)
5 Expenditure on charitable activities
Unrestricted
fuNd5
General
Restricted
funds
Total
2024
Council tax and rates
16.307
18,592
16,307
18,592
280,146
6,120
6,606
2,561
10,069
2,304
1,742
210,760
Light and h¢at
Property repairs and maintenance
Garden maintenance
Insurance
Hatrow caieline
Caretaker and secretary costs
Sundry expenses
Telephone
Grants to institutions
280,146
6,12
6,606
2,561
10.069
1,203
1,742
210,76()
267,840
287,367
555,207
Unrestricted
funds
General
R¢stricted
funds
Total
2023
Council tsx and rates
Liglii and heal
Property repaiTS and maintenance
Garden inaintenance
Insllrance
Harrow, ¢areline
C'.aretaker and secretary Costs
Sundiy expenses
Telephune
Grants to institutions
19,233
27,191
19,233
27,191
67,327
5,500
9,547
1,060
3,477
3,298
2,174
97,553
67,327
5,500
9,547
1,060
3,477
3,298
2,174
97,553
163,53.3
72,%27
236,360
Page17

Kingsbury Charity
Notes to the Financial Statements for the Year Ended 31 Deeember 2024 {eontinued)
6 Analysis of governance and support costs
Governanee costs
Total
21124
Total
2023
Audit fccs
Audit of the financial statements
Other fees paid to auditors
Tredsurer's honordrium
7,033
10,550
19,500
7,086
10,630
13,044
12,936
2,000
800
SecTetary's honorariu
AdJnini%trative %upport
Travel and subsistence
Priniing, postage and stationery
Sundry expenses
Computer software and maintenance costs
13,000
570
821
332
8,345
1,270
3,592
1,608
61,089
52,f)28
7 Tru5t¢es remuneration expenses
Durin¥ the yeaT the charity made the followinb transactions with t￿Stee5..
Mrs A Little
£133 (2023.. £4121 of expenses were reimbursed to Mrs A Little during the year.
During the year Mrs A Little received £1,000 12023.. £2,000) in respect of additional administrative support
scrviccs providcd out%idc of hcr rolc a% a Tru%tcc.
Mr G Eldridge
£597 (2023.. £1101 of expenses were reimbursed to Mr G Eldridge duTing the year.
Rcvercnd S Schuil-Brcwcr
£3912023.. £753} ofexpenses were reimbursed to Reverend S Schuil-Brewer during the year.
Mrs S Bhudia
£232 (2023.. £Nill of expenses were reimbursed to Mrs S Bhudia duTing tlie year.
No trusteeb, noi any petS0115 connected with them, have received any reinuneTation fTOtn the charity duiing the
yeur, othei thdn tlidt disclobed ubove.
No trustees hal'e received any other benefits from the charity during the year.
8 Staff costs
The Charity does not employ staff, therefore there are no employees with ejnoluments above £60,000.
Page18

Kingsbury Charity
Notes to the Financial Statements for the Year Ended 31 Deeember 2024 {eontinued)
9 Auditors, remunerolion
2024
2023
Audit of the financial statements
7,033
7,086
Other fees to auditors
All i)tlicr non-audit s¢rvic¢s
10,550
10,630
10 T4xatlon
Thc charity ]% con%idcrcd to pass thc tc%ts ￿ct out in Paragraph I Schcdulc 6 of the Financc Act 2010 and
thcrcforc it mcct% thc dcfinition of a charitablc company foT UK coi'poration tax PUTPO%CS. Accordingly. thc
charity ]% potentially eKenipt from taxation in respect of income or capital gain% received within categories
covered by Chapter 3 Part I l of the Cotporation Tax Act 2010 or Section 256 of the Taxation of Chargeable
Gains Act 1992, to the extent that such income or ¥ain5 are applied exclusively to charitable putP05es.
I l Tangible fixed &5sets
Freehold land
and buildings
Total
Cost
At l January 2024
1,888.053
1.888,053
At 31 December 2024
1.888,053
1,888,053
Depreeixtion
At l January 2024
At 31 Dcccmbcr 2024
Net book value
At 31 December 2024
1.88¥,053
1,¥88,(153
At 31 December 2023
1,88A,053
I,XR8.(15_3
Page 19

Kingsbury Charity
Notes to the Financial Statements for the Year Ended 31 Deeember 2024 {eontinued)
12 Fixed assel investments
Capital
Fund
Aecumlllated Extraordinary
Income Fund Repalr Fund
Total
Market value at 1st ji￿uary 2024
Acquisitions at CLISI
Sale proceeds from disposals
CJainl{Lo.%8} in thc ycar
Markct valuc at 3 1st Dcccrnbcr 2024
7.381.771
2.140,134
154,647
9,676,552
1,045,377
11,665,093)
385,558
7,747,613
56i,250
1572,025)
132,454
2,265,813
58,545
2,269,172
(59,2461 {2,296,364)
13,719
531,731
167,665
10,181,091
All investments are listed investments and are held primarily to provide an investment return for the Charity.
Inv¢stmcnts arc held at mid-markct valuc at thc balancc sh¢¢t datc.
13 Debtors
2024
2023
Prepayments
8,346
8,439
14 Cash and eash cquivalcnts
2024
2023
Cash at bank
Short-tem depoblts
844,419
489,819
1.341,910
266,495
1,334,23
1.608,405
15 Creditors: amounts falling due within one year
2024
2023
Trade creditors
Other creditors
Accruals
25,157
308
33,860
16,023
34,987
59,325
51,010
Page 20

oco
] ¢
4 C

000
•4
0 OW.
0 Tr4 trj

Kingsbury Charity
Notes to the Financial Statements for the Year Ended 31 Deeember 2024 {eontinued)
17 Dongtions payable
2024
2023
Grants and donations
210,760
97,553
The total grants and donatiot15 paid during the year was a5 follows..
Reeipient
Use of the funds
2024
2023
St Luke's Hospice
Elders Voice
Htsspice
Carers and aid for those in need
76,300
15.000
50,000
960
50,500
St Laurence's Larder
Food bank
45,000
1,803
Bvwater and Stubbs Residents
Foud vouchers
Gabricls Church
CAP dcbt ccntrc
16,000
12,000
11.000
25,000
4,400
100
Lindsay Park Baptist Church
Roe Green Infant School
Community kitchen
Soft play area
Homeless Charity
Fuel grant
Donation
Ashford Place
Stubb5 Close Residents
Other
250
210,760
97,553
18 A￿alYSIS of net a5set5 between fuThd5
L'nrestricted
runds
General
Total funds #t
.11 Deccmbcr
2024
Restricted
funds
Tangible fLxed assets
Fixed asset investments
Currellt assets
1,888,053
9.837,069
1,888,053
10.181,091
1.342,584
159,3251
344.022
1.342,584
159,3251
c￿￿ent liabilitics
Total nct asscts
1,627,281
11,725,122
13,352,403
Lnr¢stri¢ted
TotAI funds At
31 De¢ernb¢r
2023
R¢$tricted
fund5
General
Tangible fixed assets
Fixed asser investments
cU￿t￿t assets
C￿￿e71t liabilities
1,888,053
9,465,739
1,888,053
9,676,552
1,616,844
151,0101
210,813
1,616,844
151.0101
Totul net assets
1,776,647
11,353,792
13,130,439
Page 23

Kingsbury Charity
Notes to the Financial Statements for the Year Ended 31 Deeember 2024 {eontinued)
19 Related party transactions
There were no related party transactions in the year.
Page 24