Charity r¢gi5trntion numb¢r'. 207622
The Heinz, Anna and Carol Kroch Foundation
Annual Report and Financial Stht¢mcllts
for the Year Ended 31 March 2021

The Hein& ADD9 Cgrol Kro¢b Founditholl
Conttnts
Reference Admbiithiive Dttsils
Tn]5tces' Rrym
2w4
tsf Tru5teu' Res￿￿￿]￿111¢7EB
lThtewd¢ni AyditoTh' Rq
OT08
of FinarKial A<ii¥itie5
Bil￿¢¢ Sh¢et
Notes to ihe FiTwKial Statenwts

The HtlD4 Anna Anil Carol Kro¢h FouDd8tion
Rrftrellee #nd AdminigtrAtive Detai15
Trumtts
Dknitl Lth8
Dr Am￿5￿% Kashti (Resi￿￿ *h FebnMry 20211
M•rg¥¢iCoitÈrn
John Seagrim
X*vier
Christ<phtr Rushbrook
Amabtl PaBt
H¢&thEr A51
MJJ B A￿kAd￿mIS￿rat0r
PrfjTr¢lp#l Onlce
PO Box 3?7
Hampton
TW12 9DD
Charlty Rryblraiiofj N¥mbtr
207622
B*￿￿tr9
IISBC PLC
120 Chur(h Strttl
Eccles
Mjnrhe￿IeT
M3 OLS
Tht Bank ofNew York
Ont C8n8d4 Squ￿¢
Lthidon
E145AL
Awdllor
HAllvJays
Chartered Accounts
Riv¢rside Ilouse
Kins5 Rc4rh Busine# Park
Yew Strttl
Swkpon
Che5hiR
5K4 1HI)
PAse I

The Htjll4 C*rol Kroeh FouttdAiion
TTU¥ttts' Report
The mL3lee5 rKesent tht mnual r¢pjrtW8¢¢hcr￿h the finoNiNI $￿emem5 Ind 4thlitots' teKX)rtofih¢ ¢harilv forthE
ye*r¢ndtd 31 Mw¢h ?021.
Oblerllve54llsJAcllvltlEs
Objects
The th￿¢￿S pnnE1￿1￿bj¢(I ￿l0¥pPlY ￿a$S1￿ thos¢ people 5uffcrin8 severe rxiverty.
The tr11stee5 h&ve let oul lo&chiev¢ this by n)4kin¥ wnts ￿ people its ne<d.
Ob}ee#￿I,5￿￿t¢lle￿ •tt4tteihlrt
The I1XLnd￿ltsll ha5 made6O8Brnnt aw4rd5 ￿ th¢ ¢yrr¢Mye4r K*allin8£79.449.
P¥hll¢benefii
Tk foundation wlit5 tht invtsbnent for thp public t¢rKfft by ￿0J(ir¥ 8raM award% io rthple suffering
from signifK4ni rm￿￿1￿1 har&hip.
The tswsttts ¢onfinh t￿ hve complied ihE ￿qUirements of se<iioTr 17 ofihe Charities Aet 2011 to have
due regard io the ￿bIle Suidanre published by the Charity Comrnission for F.ngland And Wales.
Appllut￿￿ for y4ntS ¢LN)Sidered ￿ tIK tru51cE5 ￿ bi-fftonthly The21￿8￿. Grants tend to b¢ of
d ve in(cndEd ￿ wi$1 p¢opl¢ in nee4. Mos¢applicants<ome th￿yJ￿1 othLY charffiiie5 loc￿ authllrilies.
Grants to be mll in value ￿ twed at tht lower end dthe ￿7&1 sAl¢ 608 weT¢ in the
yMr underr¢vi¢w. I￿alling£7￿.44$.
Fln*ntlal rEvIEW
PollcyvJJ reserves
11 1% thr wli¢> Dfthr ttU5tec5 10 the uniE51rKted fimth, wbich are the frec rtJerv¢s ofthc ¢hority. al a l¢v¢l
ofa six rn￿th$ expendiiure. This provides 5urricient funds to C41ver mattagththi and adrnini51ra(ion ¢ost5 and
to res￿ io tmcr¥ency grarn applications. Unr¢stri¢¢¢d remained considerabty a￿Ve this level thr￿hO￿l
the year.
prtnclpalf*JrdlnRsovrc
TF¢ foyiidotions prin¢iplt fundin8 sourct is the invtSmEnt Incon￿ by the investm¢m PDrtfoJio.
lJrve5rMipollo ondobjecilvcj
The <hwity-s fotft*r lurtd myna8cr. OLIM Ltd c105ed at short nolice on th¢ 3151 ofJaNwy 2021 and cor￿utm1Y
thetyiee5 had ¢0 fl￿ a new Man￿er for0￿end￿5￿meThI ThttsuKeeschDse CCLA and theCOIF fund partKylarly
(aufie li beK 5Ulted our income ￿ rApithl 8T0￿h requirernenis as 8 grant giwing ¢h&rity. The aim 15 to Secure
bfflh and capital STowth wi¢h CCLA. The Foundation L￿1t% in the COIF Chwi¢i¢S InVeStn￿￿t A
pwltJ inv<stmthi y¢h￿l¢ with i Lgr8¢ nuinbrf of u￿¢r[vIng in￿(￿5 and a55cts. As Df March 2021. the value of
our Investment is £0.3 rnillion. ¢he en11re￿ of all ihe <apital invested in the COIF Inytslment Fund 15 valuEd
approxrnately £3.) billion. Ea¢h ￿lt repre5¢nis owTrership of a prorthion of the underl)in¥ furtd. which M itself
APPTIMimRtEly 15Q inYe51tnEm holdin85.
Page 2

The Hell￿ *nd C4rol Kro¢h Foulldation
TTUJteeyl Report
Dy¢ iu Co%id-19 the CA￿1ty'S invesDDeni droppcd Si￿lfiCanTIY and found4tiOD5 level ofinrijmt ￿d￿Ced.
I'hEtruS￿e5 I￿k immediaie ￿110￿ io r¢dur¢ thp thDnihty bud#ei for grani applicalio￿s. This figurt *'*s ￿l¢￿e￿ <)n
a quartcrfy b8514 because of the c(mt1n￿d largtstalc dtLlP in dividends acr9&% IhE 5trtk Ma￿tI companies. the
Trdu¢cd budget remaincd fixEd until y¢ar<nd. Due ¢0 social distsncinB and 5hitldin¥ mcasures. Ihe try5W¢5 1150
weed iu IDak¢ achsngc ul the WAY application5 were being a53es5td from pyr ￿On-11￿c.
Cjrant w1￿#tIOns kiw throygTrKxrt th¢ year this ¢oifKided ihe gov¢tnTneni's annl￿T￿eme￿i of
na11￿￿1 Iotkdowns. thgani￿Eion5 who prcviou3ty Applieé 10 th¢ ¢b8rity f<Jr fundmg 5U5pthded 811 r4¢e-l￿fa¢¢
wj¢e serwi￿S resuliing in the low number of wants receivcd. As COV￿ h& furced the introduction or
hnffteworking li has taken time for rygpniS31ionS to athpm Conseguenily. the became 9UItt
di5ruptivc And disjoinied nonn31 prncE55e% wtrt noi bein8 followed by rdsewotkets These ryulariiie5
tht thy wéay ￿nIng ofihE Vtr￿10beC0M¢Wtr￿￿Cd￿nd [¢￿￿￿￿9.
board of trustees hL% 4 fvd%>nabl¢ ¢xpt(4w that th¢ r￿n&￿tiOn ￿11 have ￿&oUrteS to eontinut i
opctalional cxTrMLnL¢ for th¢ f<Jr¢s¢trable ￿ture. F￿￿ thi5 fE&wn it ¢ont4iue5 the going concern basis
pYeparin¥ ￿. fina￿1￿1 5laicmthl5.
8tructUrn,iOvernathctaTrd ma•a%trn¢ni
The Htiro Anrw Ind Larol Krorh Foundallon is a reW￿red ch4rity (No. 207622) is ¥o¥emed by tr￿E deeds
d￿ed 23rd M￿h 1962 and 7th August 2014.
The charity 15 sov¢med by its tr￿¢ deoth whith sta* thai ihe ar4)ointh￿n1 of new L5 w tht
dis(T¢tion ofthe chairmBn.
lJrd¥cfflvA oTDllSiee5
Ihe inducllL￿ procc55 m¢1￿je5 4 Tr￿ting with thE Ch&ir uf TtU5ttts wh& ¢xplli￿ o brief hi￿(￿Y of tht
founthion.the Investinen￿ th¢ grani prttess. ￿wers and responsibilili¥ ofthe t[v￿ tK)ard.
The foUr￿￿10n employs an athn1ni5tsaior￿lK).s salary isftwiewed by1￿ b(th ￿nU￿ly.
Orx4nly4fi•n41slrxicliire
Tra&nIn￿￿*t4r rtr&Yts w the bwd stthEirbi4thual n*din85.
P4g¢ 3

The HciD4 CArol Kroeh Found•tioD
Trusteu, Rtport
FiTrin¢l*l In#rurthents
ObJ¢¢li￿V•￿￿FOII¢IL*
The charilv'5 ￿livil￿5 CXPOSt It to a iiumber offiDaNiil rri5ks iK.ludins crtdil ri5K Q5h flow risk and liquidity risk.
The Use of financi￿ thrivatives is goverDed by the charity's policies appni￿d by the Mard of Tru5tte& which
PYO¥idtr written principlc5 on the use or ri￿3￿]?] derivatives monose these risks. I￿ charily 4(*s Use
thrivativ¢ financièl ins¢n￿nIS fly swulaiivt wtPD5E5.
The chbrity'8 athivitiE$¢xpox li prim4rily to the Ilntsth¢iAI ri5k5 ofthve5DhEm yi¢ld5 inttrejt ￿lEs.
Irrterest be¥ingas8ets li8biliiitsakhÈld gt fixtd r*¢ io¢wure cfminty ofwh flow5.
Credliplsk
The¢harity s princip31 fin￿¢111 ass￿$ IrEb￿& b&kn5 inv¢*mEntS.
The credit risk on liquid funds ￿ limitrd beuuse tht <ounteryarties oft banks with hlÈh Credit-mings AssI￿d by
intemaiithal crtdit-rdling aBenci¢5.
The¢h8rity no.%igDifi¢hni ¢on¢tnhYtlon ofcrEdil risk.
LI4*￿ty rts
In wder lo tnainlain liquidity to ensyr¢ thpt suffKieni fuNJ$ ore &¥&ilable opcMiots5 fll￿re
deyelopmertts. the ¢hani> caps tht grtttt￿ TnwJ¢ ￿ the annual irKoMe from lis ￿nfOllo. After ensuring
reserves are retAined fw its athniniSlrttIOn ¢OIIs.
DtstknuTE DllnlaTlnatlDD toaudrtOT
Each tru51ee ha5 taken sleps Ihal they ou8hi ¢0 have taken a5 8 truske in order to m8ke tknstlTr￿s aw4re of any
ielcvani 4udii infonnaTi4n aTKI lo ￿t￿blISh the Ch￿ty¥ &udilor is of thai inf(ymiAiion. The ¢n￿te$
confrm thot ther¢ Isr￿re1cV0nl infixmaimx) thai they know Dfand ofwhich the auditar is ￿na￿re.
Ruppol•iment ol*udltor
Thpauditors Hallidays are deemtd EO btYt8pp)inted under *cEl￿ 487(2)oflh¢ Comppni¢i Act 2th)&
POrtw￿ 4pprDvedb) th¢ tnw¢M ofthe¢knty 2Juty 2021 and Si8ned on hs bthtslfby..
DanKI
Ctrwiswphe
I'rnstee
RushTr*oDk

The HtiD4 Anna *Jtd Carol Kroch Foundmtion
St*temtttt of Tnuttes, Re*ponsibilities
The trustees are reswnsible for twarin8 ihe tru51ttS' rtport and finArK￿l ststemenis in a¢(ordanEe with the
Unilcd Kingdotn AccDuniiTrs Stthdw&4 (Ilniied Kingdom CJen¢rglly Accepted Accounting Prxtic¢l and aKpIKable
law and regulations.
Thr l&w arplKthle lo ¢htriLies requir￿ the tnute¢s ¢0 wepare finwKiryl ltattrnents f<Jr e￿￿ finBncial yr8r which
give a tnLe and lair ol. the Swe of a￿31r5 of thE charity and of the incoming rt50tsttts 8FpIK41ion of
sourcesof ik¢harity for1h￿ Keri￿￿. ID p￿[￿￿￿8 the5¢ firwul Staten￿nts. ￿ tr￿tte5#re Yeguired w..
select SUll8ble xcouniing policies and ypply thern con5lYtrIIy*
observelhE mcthods and w1￿1p]eS in ihe Charities SORP..
ke J￿geMEN5 ￿ ￿lT￿￿1￿5 thAI Y¢Asw•bie wudeni.
swe Mts¢h¢r yplicable ar￿u￿77￿8 Ma￿a￿aS hove been folk>wed. subjeth io any d¢rArtYTES dis¢lo*d
and cxplained in thc finan¢￿7 stAttm¢nts.'
et*re the fi[￿¢]kI statements on the goin8 corKern b45is ii is inppprwra* to pr¢5Utne that the charity
will roniinuc in busintss.
The trus1￿ sre responsible foT keepin8 PTOW 8¢¢ountinA record5 th* dI￿105e with rvdsoThibl¢ J£cur￿Y at any
limc thE financial p05ilith of the charity and enable them to ¢nsure iht the firthnciil slatCmEnt5 cumpl) wlth the
ChariLies Aci 2011. Ihe ￿PliCa￿le chwit1￿ (Accounts and Reports) RcBukntiOll5, the w0v151￿S of the
con*ithNion. The mL%tre5 are a15Q ￿5pD￿s]ble f(* %afe8uarding the asse￿ of the chorit) and hence foi ￿kIng
steps forthepreyention and dete¢tiOll offr8d artd otherim8ulariiies.
Approvcd by thc tru5tecS ofthe Ch￿ty on 2 July 20214ThI swKd on its beh￿rbY..
Ttu%Tee
Chri5twher Rusthbrook
Trustee

Tht Hein4 #ttd Carol Krorh FoulldAtion
IDdtpeDd¢Dt Auditor'$ Report to the Membtrs of The Hell￿ *ttd Carol Kroeh
FoulldAti￿n
OpiDIo
Wt havtauditedthe firthCi41 ofThe HciThL Anna and Carol Kroch FouAdaiiOti (the chthty,) for the￿r
tnded 31 Marth 2021. which c(Thpnse ststen￿nI of Financial Activities. BalarKe Sheet. and N(rtes ttr tht
FinAn¢i81 Si8t¢rncrits. in¢ludin8 a 5umrnao' of8i8nificsnt accounting policies. Tr finan¢￿1 r¢pthin¥ frnntWOrk
th&i haj t*en applied in their p￿pa￿lMIn is Unitrd Kin8d￿n Accowjiing st￿ cornprising Lharitiey SORP-
FRS 102 'The Fin￿(la1 Rep)rting staT￿￿￿ applicable in the UK And Rcwblic of Ircland, and applicablc law
(Unmtd KingdoTh Generally Acyted A￿0￿￿11ng Prar¢icel.
In Ouropjnion the financMI stat¢snenrs'.
Biye H true and fair vi¢M of th¢ sw¢ of th¢ Charity's d(f4irs as ai 31 M&rch 2021 and of its ulcomln8 rc8iNllte5
andappliCalKinoliesoLTees. incl￿1￿8 IT5 Incofft¢aT¥J ¢xwndiwre. forihe yearthen ended..
h&Ye beertprorKrty pre￿re￿ accorthnce ￿1th Unn¢d Kingd(￿ fjenerally Accepted Acc(thing ]¥actice',And
Ye bEen prerAred in&cCord￿CeWith th¢ rrquiremTh*s ofthe ckn11￿ Att 2011.
BA5ts fvroplthloo
We conducted our audit in 8c<orthnce With ImternatiDnal Strndards on Audiiins IUX) IISAS (IIK)) and appli¢8ble
lllw. C)ur r¢s￿nsIbl1111¢4 under the sthnd4rds #rc fvrthrr dc5cribcd in the Auditor's ￿lFI￿SIbIlitIes for the audil of
thE statcmcnts scclion of ow rep)rt W¢ dre ind¢wdeni tsf the ¢knrity in aCCord￿￿E with thc cthic
requirements th&t art rekv2tt1 to Lyjr of the financial statements in the UK. including FRL'S Lihical
8tsn4ard. and lave fvlfilled our ￿ker¢th1¢al ttswnsibililiEs In accoTthKe ￿1th thNe rryu1re￿¢Tht￿ We believe
ihat the fjudit ey￿enCe we have is syffi¢ient appropriate ￿ pTr￿dE a foT ouropini(m.
Co￿¢1￿$10￿5 rel*iiTriifj ¢Dn¢ern
In audiiing the financial siaiemenis we have concludtd that the tsusw YS¢ ofthe goin8 ba5i&ofom)uniing
in th¢ rttpntion ofihe financial swemen¢s is apwopri81e.
on ike we have perfomeé. wt have noi Iderttifitd any nweripl wwrtainl￿5 relatiJB ttTrevents QT
cwdiiioDs th*. tiidtviduajly w colleoiv¢ly. mayeast 5isnifirant doubt thE ch4rity's ability toconlinue 3s a going
c￿Cern for&wiod ofai leLst twelve months fr<Mn th¢iwibiiMI financial 51thtnrnLN were aUtI￿ri5¢d f(Y i55ue.
oLrf¢5W￿5ibITritlU the r¢5P)n5ibilnies ofthe trus￿$ wth Tesr*<t to 8Onwcortem dexrityd inthE ￿levant
seetion5 ofthi$ trwn.
Otber Inforn￿t￿ll
The TrustEe5 aTe r￿pOnSible fw the ￿h¢T informat￿Tr. The oikr infLYrnation wnwris<s inf¢tmatiOn irtlu&d in
Ihr annual rc￿rt, other finsncial slateinenls our •udi¢or's rewrt thereon. Otr upin￿￿ on thc fthBnEiBI
siaiemcnts dw5 rtol ¢ovcrthc inf(Kmdlion cXcepi￿ theextrni(*h¢rnvis¢ explicitly 5taied th our rer*)n.W¢
do not express any Or￿sU￿an¢t(0n¢I￿10Th ihtrti)
In ¢LMUKxiion *ith Qur a￿111 of1￿ 5LIT¥ments, our resp￿SIbIlity 15 10 re40 the othtt Infonn*1￿ a￿. in
doing 50. ￿nSIder ￿ether ihe thher inf<>Th￿lOn is ￿￿enAllY inconsi￿ent with the finanoial ￿ate[ne￿$ or oNr
knowledse obtsined ID the audii or tyherwTr5e appears to ￿ mA*rially mi¥Stated. If identify such Tn￿trIal
incon5151cncic5 or apwern material misstaternents. we Jr¢ required ¢0 delemiine whethcr Iher¢ is 8 ￿￿e￿al
M￿sLIttl￿en1 in tli¢ fin8n¢ial sth¢¢ments or i M￿e￿al rn155tstrrncni ofthr ijthcr infolrnalion. If, ￿ed on the work
c have ￿rf9[med. we CQTKlude thai the￿ is a material misstaien)ent of Ihis Oiher infornaiion, Kt are rt4uirt4 1¥
twrtthat fatT.

The HtlD4 Anna aDd C8rol Kro¢b Foundation
IndtpeDdeDt AuditOT'5 Rtport to the Memhers of The Htill4 Anna C#rol Kroeh
Found¥tioll
Wth&Ye nothu¥ ￿ rewrt in thisTes
MAt¢er5 oTrwhi¢h we •r¢ rwvir¢d t￿ report bv eACtptb)Tr
In ¢he lighi of our knOw￿d8e undct51andins of th¢ ¢￿rity its ¢nviTimm¢nt obtsinvd in the of tht
audil we have nol identifiL.d nJJlluial In155￿lem￿lS ill the Tr￿￿5, R¢poM.
We hDve noihing to rcport in respEcI of the folltsffin8 mthers ￿tre ¢h¢ c￿rit￿s Act 2011 requ)￿5 u5 10 io
yw if. in ouropinK)n-.
¢quAte htcounting re£ords ￿Ve ]￿t beth kept. or r¢turM ￿equal¢ for <MJr ￿dEt haye nDi bEen rEccivrd
ithts rKlt visittd by ￿$.. or
the finwhcv&l slatcmEn15 2f¢nDt in aw¢ment with th¢J¢t¢xmtin8 rewrds andreliirni," Dr
eMaiTh diKlasuTr￿ oftrustee5 rethunetaiK)ti spe¢ified by law 3re not made., or
e have noi receivd all lh¢ infonnatiom and expkn8tions weTequire foTOura￿jI1.
Regptsnslbllllles oltrustees
A5 txplaincd tnwe lull) siaiem¢Di of Trustre5' RcswibilitlC5 15Ct Pts8t 51, the I￿5*¢3 are
res￿nSIble liy the weparation ofthe f￿￿¢1￿1 UateThent5 and for bemg sattsfied wve a true and fair vi¢w.
and for %uch in¢ernal control 35 Ihe ttustee5 dctcrminc 15 nttes5aTr w enAbl¢ the ￿parAll0n of fir￿￿Ki&l stattmenis
that are free from matcnal TnI￿tItc￿rTht. wb¢th¢r to fTaudorerror
In Preparing ihe financial stateThent5. Ihe ttuSttt5 are responsible for a55essing the tharity's abiliry ￿ <ontinut &s
going concern, disc105inBy a5 ￿p11(￿ble. motym Telot¢d ￿ goin8 concern uBing thE goiny Concern bAsis of
a¢¢ouniinsb unless the InL5*e5 either io liquithie the ch8riiw or to ¢eAse owNion5. or have nD I￿7￿]C
c hllvL. bcL'll appoinl¢Q us audiior under S¢¢¢ion 145 lif the Charit￿S Act 2DI l and r¢Tr￿ in 8¢¢oYdanct with the
Act and rckvanl rtgulaiions made LY laving eftffi tI￿r¢under. l]bjceiives are to obiain rtrdsonable assur¥nr
ut wh¢ihLr thc finkllcial stat￿ents as a whole are free from m￿tri81 misstatement. Whel￿r dueio fra￿ oretmr.
and lo issue an auditor 5 fcpDrt th￿ Incl￿¢5 Our opinion R¢&8nnahle a4suMnce is a hi8h Icvel ofyK%ufATwe. bu¢ is
noi a ¥uHrant¢c th&t an audil rondu¢t¢d ill x¢wdance with ISAS IUKI will alwaiy dctrcl a ma¢¢rièl Mi$$th¢en￿nE
Mthen It eXiSlS. MiS￿al¢ments ari5¢ from fraud tsr and are corsidered motrrial if. individy?11) 01 th thE
a8$￿sate. Ihey re&%onabty be exweé io influence ik ecommic thcisK>rfj of th¢n on tht b&sis of
As of an a￿rt in a￿ordI[￿e wth 15As (UK). we txercise wofe55lo￿a] and fftalnts￿ pyofessional
¥¢pti¢ism Ihrou8hoth thE &udil. WoAIso.
Identify and assfss the ri5k5 of Tnaterial [nI55t￿emeTht ofthe financial 5th1ements. *hwher du¢ to fra￿ or erftx.
Je5ign and r￿OrT￿ audil prottdurc5 rc5Nbn$ivc to iknse risks and obthin audit evidence that 15 Sufficient and
appropria￿ ￿ proyiac a b35iS for our opinion. The risk of noi dciecling a malcrial m155talLm¢ni r¢syltinu fro
ud Is higher than foroTK resuhiDg from ytror. as may Illvolve collusion. lor8erJ. ￿len11￿￿1 offti55ion&
misrepresmtsiions. orik Ove￿1￿ ofiniernal cothirtsl.
OtrAain an Iinthrstanding of infernal rontrol rclevtthi to Ihe audit in i>rder ¢0 d￿1B￿ wjdit prorcdurts th&t aye
propriatr in the c]￿uMSta￿ve& not for the pu￿￿￿¢ of exrre&%in8 4n opininn on ihe t￿e￿1vent￿8 of ihe
chvity s inttrnal control.
Pw7

The Htln4 Anni and Cthrol Kroeh Foundation
IDdtpeDd¢llt Audi¢or'¥ Rtport lo tht Mtmben of The Helll4 #ttd Cxrol Kroeh
Foundation
Ev*luats the 41wwaterJESS of acciN]nling polici¢5 Ys¢d r¢a50nabkness of accounting e￿iMTh
rel*ed disclosures by thttrusiees.
Ctsntluth on thE apPro￿alenesS of ttustf5 of thp going basis of accountin8 and based on i
dit e*i&nce obtAin¢d. wh¢thtr a material uncemainty exists reknted to evmts or (￿di1￿7￿$ ihii nwy
signifKgn¢ thybt iht chrilJ'5 ability to ¢(mtlllUf a5 B soins concern. If ￿ conclude thal a rnateriRI
uncemaint) exist¥ we are rryuired ￿ draw attent￿ry ITh our wditor's r¢ivxt ¢0 Ihe di&ilu5Urts in the
rthAnci&l ￿ait￿lent5 OT. if5u£h di5c105ure5 zre inadequate. to tr￿1￿. our opinion. Our Co￿lUsIOnS are based on
Ihe evidenre 0￿1￿cd up to thE dale of our auditor's rep￿. Howy¢r. finure events or coTrJiti(ms rnay
ause the ch&rity ￿ ¢ew 10 ¢ontwy¢ as a8oinB ¢¢rK¢m.
Ev4ludte the ov¢rnll wesent8tion. m(tw¢ and <ontent of the fthancNII Slam￿￿1￿. including the disclowre5, and
hetheT the firth￿￿1 r¢prewt yn&rl)ing tvrth5 in a m￿c[ 4chi¢vc5 fair
r5entalion.
(hthin suificient appropri&ts wdil evidenct re8ordin8 th¢ fin￿¢1￿1 infonn*1￿ of the eniiiits or bu$ine55
a¢tlVlTie5 thE ch￿lty to cxprts5 Bn opinion on the f￿anC￿l Mai¢ments. We are re5POn5ibl¢ foi the
dire￿m)n. Su￿ryI$l0n 8nd Y￿rOmance of thttFhqritTr audit. We remain solely re5wnsibleforouraudit opinion.
We communicaie with th05r th8rBed With Bovetiiance reB4rdin& am0ngtyh¢rrn￿i¢r￿ the pldnnwj ￿0pe iirning
Of1￿ audii and significant audit fthdin8& ti￿l￿dIng Any Si￿7r1¢￿1 defic￿￿1¢& in inwynal ¢￿trol ih* we ￿en1Ify
dvringour wdit.
Use Wort
Thi5 report is made solel> to the chari￿ I￿￿ees. 8S 8 bthl¥. in AC¢Ordanct wiih 5E£iion 145 ofthe CIwii¢5 Art 2011
and reguL4tions made under 154 of ih3t A<t has been ￿ertaken so th￿ we mighi stale to the
tru51cc5 Ih05e Malle￿ we are requir￿ to slate to trustees in an auditors. rerM)M for no thher purw¢. To the
fullL51 rXILni ￿￿knit￿d by law. wr do nol or a55umc rc5pon5ibilits' lo ¢Mher ¢han ¢h¢ ¢h4rity and i
trusw&satrxMty, f￿ ouraudtt w￿￿ fly orlorth¢ Op￿10n¥ w¢ ￿¥¢ fvtTrKd.
orand on beholf ofH&llvJay& 518DJknry Awjitor
Riv¢r5ide Hou5E
Kin>% Rea¢h Business Park
Yew Street
Siwkp)rt
Cheshire
SK4 2HD
Q..L.l.0 4./.11
Page 8

Th¢ HtiY4 C•rol Kroch Foundgtion
StAtement of FinanciAI Acti%?tie5 for the Ytar Ended 31 March 2021
Unresfrirtrd
rund
2011
Note
Inv&lTnent incorne
Exptndltur¢ Trn..
Raiqing fund%
¢hari1oblt wtivitie5
(124.999)
1124.9991
Toul ￿%￿ndIture
incorne
Ntt sa￿￿110￿) on investrnent auEts
1g.(A)4
1,078,971
19.604
1.078.971
Net mowynl in fvnds
1.09&575
1.1)98.575
RE¢on<llkntlon Drrund
Tothl fu￿5 brought forvjard
5.348.831
To￿) fU￿J5 ¢wriel fO￿￿d
6,447.406
447.406
Vnrestri¢ltd
rulld5
Tothl
202D
Note
Imcomt End4)wllLtnts rr41rn'.
Invc51rncnt IllCOrnE
317,492
317A92
143.4001
(43.4WI
1273.IKW)
Tthal F.¥￿nd1¢￿re
(316.4fy1)
1316.404}
Ne¢ iicom¢
Nw gain4110￿) on jDv¢5Dn¢ni
1,088
Ne¢ ID
{1.801.027)
{I,Wl.927}
Ttyal fvnd5 bTOU8hi for
7.149.858
Totsl fund5 cThed fon¥￿d
5.348.831
All ofthecharity's a￿1vIl￿￿ derive wniinuin8 (wwi(￿5 dyringthe two penits.
lThe fund5 sho￿￿ in hrxe 14.
pgges 1 I to 21 forfft ￿ int￿1 prtofthe* r]nèn¢ial
PaBC 9

The Htltt4 Cxrol Kroeh Ftruttdation
(Reglstratlon t)umbtr: 2076221
Bzlance Sheet x% ¥t 31 Mgrch 2021
2D21
2020
Not¢
Filed 155ets
Inv#¢m¢nts
6.310.8JO
4.790.717
C¥rre•i th5sets
Cash 3t knnk in
142.374
8.840
Cryd4t&rs: Awtyunts f*lllni Oue ytrllhln yt•r
N¢t ¢urr¢￿t *s*ts
(5818)
11(556
Net •Mets
6,447,406
5,34&831
Fundsoftbt¢h*YllY'.
Untestrkled IDcorne
UnrtSÈridrd fU￿J5
6.447.406
5.348.831
6.447.406
5.348.831
Thc financial ￿￿ternents on py 9 to 21 8prrfova by the ondJffikni5td for I￿U¢ on 2July 2021
siÉn¢d on their ￿h8]r by".
i¢1 Lans
Chri#opher Ru5hbroDk
Trywt
py 111021 form an 1rne8r￿ rArt ofthtte finBncial 518ternents.
Page 10

Th¢ Htlkl4 Carol Kroclt FouDd*tion
Notey to th¢ Fingnei*l S14t¢wtDt$ for the Ye•r F.uded 31 Marth 2021
Slitemcnt ofcomplvdnce
The fi￿2￿ClaI slatemtni% hayt been prep¥d Accouniing Repming by Chariiie5.' StaieTheN
trf Re<omThended Pt8¢iTree 8ppli¢able lo charilie5 weparing their ¥c￿u￿15 Ill TLCOTdance with thp Financial
Rep)rtiiig Sthndard •wlKJble in the UK and Rtpublit of irtland (Fas 1021 letreciiwe l January ?015}- (Chariti¢5
SOkP IFKS IQ2}X the keporting appli¢able in the UK Rryublic of lieland {FRS 102)
Chhrilits Ati ?01 l.
B•515 ofpnpArntb?Th
The Hein4 Anna and Carol Kroch Founthtion ihe definllKm ofa puNi¢ b¢Defi¢ emny under fRS 102. A55ets
a]￿ liabilities art lnill￿1￿ reco￿￿ed at hi510rical m or tyan5xiion value wile55 othMvi￿ S￿led in ihe ￿1¢
acci)uffling ￿l1¢Y notes.
The fil￿*￿111 siaiemenL% K*esertt*t irt St¢rlin& which IS￿59 the fil￿10￿11 ofihe ChaTKy
C¢Jln% ¢Meern
The ¢ru¥lt¢s (￿s￿r thRi ihtte 4r¢ M m•*riÈl uncertainties kknut tht ekniws abillty to comfjnuc a 8Oin8
In¢omt #nd eThdowmenis
Voluntsj) ifflcoime including donpiK)n5. gifts. kgacics and yanis iht provide cojr fundni$ (*are of agenerdl nAIU
is when the ¢hariiN ha5 ¢ntnlerneni w the I￿￿￿¢. li is prvbabk that th¢ incoine will be rKel￿d and ihe
¢an be rnea￿￿ with suff￿1¢nI Tvli3bility.
Don*ions and ￿¢￿I5¢d arffeivable basi5 T¢ceipt 15 probabkand ihe omount C￿ bereli4bly
m¢E5ur¢d.
Inier¢51 on lunds held on deposi¢ is llKluded ￿h¢￿ receivabk the amtyjni 1Th￿￿red ￿lIablY by tht
charity. thi5 is ￿nn￿lI5 upon noiificasion of the paid orpayable by the bank.Dividends are recogni5ed once
th¢ ha5 derlaT¢d IwbMTtttiv¢d of thedivFJenddue.
Exwdilure
All txpendilliie is recognlsed once thtyt ts * legal OT ¢OnStsuCtiYe ob1)E￿i￿rt exrthliturt. it IS yobabLt
sa¢lemeni is required and the amoun¢ fdn ￿ rne4sured reli8bly. All costs aye alllwata to The applKable experbditure
headin8 ihAt ogyeg8te similar cosls lo ca*gory. Wher¢ ¢4nTrot bedir¢tth. 8nribuied ¢a p8rti¢ylFr h¢￿Ing5
thEy have bEcn alloCa￿d on a ba515 consi5g?nt with thE use of rL￿o￿T(el central costs allocated on thE
b&%is of lime spen4 depytciallth C￿rEe$ dIoca￿d on pL￿￿n oftht ￿set'S ugt. Other Supwn t4)srs are
4Iknc￿td b&sedon the SpreE￿ of mff costs.
Page 11

Tht Helll4 Carol Kroekn FouDd4tion
Notes to the Financial StAtemtnts for the Y¢4r Ended 31 March 2021
These are (oms incurred in attyaffiing volunwy inron￿. th¢ of U1¥estmtt￿ *Jd th￿e irtculled
trwjins aNivjriesthat rais¢ fvnd>
Cknwble expenditure comprises lho￿ cijsls incurred by thE chariry in IhE delivery of its activitie5 ser¥i¢eS f
it5 LKncfKiaric5. It incluth5 buLh COST5 th￿ ¢8m k 8lk*ai¢d dirtthly ￿ such a¢livi¢￿5 ¢bos¢ gf ￿ i￿lre¢l
naiuye necessan. 10 suf•LYilhem.
Provisions for granis when ihe intemion ¢0 ha5 b¢rn Ivth¢ t¢¢1p1¢￿ thtre
i$wn¢¢rwnty a￿￿￿t￿h￿￿th¢t1mIng ofthe orthe amouN ofwptyabk.
5*pport ¢osts
Suprth cosis iNludt centrLI h￿ClI￿5 gnd hBve bttn DI1￿￿£￿ ￿ x*iYity ￿￿rI¢S on a basi5 Wn5i5t¢nt
the ￿se ofrns0u￿Cs. fore¥4mpl¢. allordiins wope¥ry by flooTW OT￿rEaP1￿ stsff ￿ by1￿ time 8PÈIrt
4nd othEr costs bY1￿IrUSaSe.
Gowerth#n¢e cosis
These include ihe costs altribu￿bIe io ihe tharity'5 ¢￿pIla￿e ￿7th fQTLYiiLMional ￿ tytWQry TWUitement$.
includin8 audit. strnleBK ￿d￿u￿ee5.S mEerin83 and rellnbJt5Ed expeh$4s.
T*x¥iknTr
The rharirj, ISCQnside￿d iopa55 Ihp in P4RgTrpb 1 &h¢dule 6 ofthe Financt A¢t 2010 and therefore li
¢￿S ih¢ definition ofa ch3rnablecompan) for UK COTpoMion lax puwe5. ArtOTdin8ly. the charity 15 wientially
exeTnpt frofft taXalK￿ in re5PEcI Orinc(￿n¢ or Bains recEivd ￿lIhi￿ c*ve¥¢d by Ch*yA¢r 3 Part 11
orth¢ C(xwAtion Tax Act 2010 or 5tction 156 of the Taxaiion ofChfiry¢able (jall￿ Aci 1991 ￿ the th
such incimnt or 88in5 are appliedexclusivelv ￿ charitabl¢purrM>ses.
DppreriRt￿Tr
tkpreciaiion i% provided on t￿ible fixed so as io off thr or V￿vat￿ry ]rss pny rESidu
value. overtheiE ex￿C*d useful economic life a5 folknw5".
FiiEd Inv￿t￿P￿t￿
F'ixcd asscl invc51mcnts. othEr lh￿ pro8TaTnmE fEl&tod mVE5Dr*nt5. art In¢lUd￿ #irna￿t VÈ1￿ ai the b9￿¢ sh¢et
d￿e. Rca115ed ￿]rts <)n investh*nts are cakula*d as the diffeRnce between sale5 PToceed5 and tr¢ir
markei Vdlue 81 stan of ihe )Yar. or their subsequffii COSL and we chaTg¢d or ￿e417*d ty th¢ St¥¢m¢nt ¢f
Financinl Activmtt in the ￿riOd Dfdisposal.
Unrealised gains and loss¢s reptts¢nt the movemffli in nwk¢t Ydlursduring the yeaTaNizffj¢ ¢redi*d t
the Sw¢meni of Fina￿(111 AthYKi¢s based ￿ the mark* *th¢y#T¢NI.
PA8e 12

The Anna Carol Kroch Foundatio
Notes to the Fin*n¢iAI St8temeMt$ for the YtAr Ended 31 M#reh 2021
C￿h tqlllY4lEnts
C85h and cash equi￿lE￿LE comprise c&%h on hand and Call depo5ilS. other 5hort-ietm hi¥hlJ li9uid invesbnents
Ihat arc readily convertible ID i amount of¢ash And arc Subjc￿ tu an ins1￿lfIca￿I risk of¢hange in value.
￿NeI￿re
Ilnre4tri<ted in¢o¥ne aF¢ B¢ner41 fu￿5 ar¢ available u5¢ ￿the M￿¢￿,5 dis￿10￿ in fuT￿￿rIn￿¢ ¥f%
objedive5 ofthe chsrity.
PtnJSonsond other p￿L rellremtnl obligithbns
Th¢ charity oper4ie5 a drfin¢d PEn5ion whi¢h is a pkn ￿dEr￿￿T[h fix￿ conrribuli(
aTe tmid inlo a peT￿lOn lund ￿ thE rharny h&5 no le￿1 Orc￿￿1rUQl1we obli84tion to tmy t￿there0￿mb￿1tsnS even
if Ihr fund d0¢5 not htrld tuificieni As8etS to VA) all empltsyets th¢ ben¢fits rttstirts to employtt 5rnitt in th¢
Current and prior F¢fK>ds.
Conrribu¢ion5 ￿ Lkfined pl￿5 8r¢ Twised I￿ th¢ STr*mpM of Financial A¢riwii¢s arE
duE. [fc￿￿1￿tK]n [￿>￿￿ents exceed thE c￿tribUtI￿n due f(K 5etvKc. the exce55 is recognised a5a pfEPWrtent.
2 l&ves¢mtMi
Uthrtstrl<ied
r￿n￿5
Totsl
ID21
I￿Ome fTom divjdeTrJs.'
Djvjdends rec¢jwAble fnim other li4el ￿ve￿n¢￿
Inter¢x r¢¢eivableand Simi￿ inrorn¢".
I￿reSt re￿1vabl￿OnIw& deposits
23
23
Unnrytrirled
ruTh&s
General
Toi•1
2O21J
In¢thnE from dividends."
Dividends reetivable from ￿her listed inirments
Intere￿ rectivableatyj $imitsr ittomt..
In*resi recei￿ble0￿ bAnk deposits
879
879
317.492
317.492
Page 13

Tht Hein4 Anna and Carol Kroth FouDdatio
Notes to the Fln*ttelal St*ttmettts for the Ytar Ended 31 Mirch 202J
J È¥wDdiiyr¢ ¢h•rts*bJtitrlvttlEi
UDrtsirkned
Tot•l
2021
Note
GrdN fU￿JIng ofariivjric5
SL91f￿5
All[￿￿ed cl￿5
Govrr]wKccoM5
79.449
23J91
1.983
20,176
79.449
23J91
1.983
20.176
124,999
Unrutricled
run05
G¢n¢ral
Totsi
2020
fjrani fundingofxLIVILK5
Siaff ¢oMs
Allocated suppyt
229.431
229.431
23.216
5.552
16.805
3.J52
273.otm
273.W
Grnms of£83.908 were during ih¢ yw. £4.4fj9 of8rants owarded were tsken
gtants ￿Ld of £83,908 iti¢luthd grants ￿ insiiluli￿s lo￿111￿¥ £46.068. Thts irtcluded £2,697 Paid io Cetitre
63. £19.696 toArBO& £24.275 toHackney Miwi Centre Tijiil wnrs PAid toindiwiduals t￿alled £37.240.
Grant fu•dltsE
of*rtli-lty
s•pp)rt costs
1021
Graiits Pdkl
OtherAciivities
79,449
79,449
25.4
79.449
Grn•i fvndlnl
25.425
104.874
511PPQnfV515
202
Gr4Ns pJtyJ
Oth¢Y AthIryIiES
229.431
43.573
43J73
43J73
273.0
Pw14

Tht Hel￿ And Carol Kroch Fouhdatio
Note* to the FiDaDcig1 Stittrnents for the Yt*r Ettded 31 Mir¢h 2021
4 Ats*lys1s tsf powtrn*DttaDd s*PPOrtewly
8uprth eojti allocit￿ lo fuhds
TtstAI
Z02Q
2021
Inve5Dnent ￿]￿￿￿￿ethnt ¢osts
23,578
23.578
43.400
SuppDrt owts Allociled to ¢hArit•bk•rti¥ltlts
Other s￿ppDrt
c￿Sts
Total
zoii
B18h of*llouth>n
sthftC05
oiritt expen￿$
Other services
19,0S8
1.2
19.088
1,296
Employer ptnsion ¢Mtri￿1
Bank chuBes
4,354
307
4,354
307
25.425
Other supparl
colts
25.425
2fj20
B*5ts rfJfAlknutknn
Hours
Swff
0ificeexpense5
(Mer service
Employer￿￿510￿ ¢(Iniitbution
Bthk chw$
11.863
18,863
1,432
4.354
305
4.354
305
26,768
2&768
PA8tIS

The Htlll4 Carol Kroch Foundation
r4oteJ to ¢be Fin4neial St*ttments for the Ytar Ettded 31 M8reh 2021
Unrulrl¢ted
Totsl
2021
GtTrernl
Sthff costs
Wages ona salaiies
PensK)n w5
Audrt fees
Audit oftht fmantial SLgtsmertts
her f¢¢$ pavj ¢0 auditors
OthergovemarKe costs
Allocated sUPPM ¢OS¢S
4.772
1.088
4.772
1.088
3.819
3.273
6.726
496
327J
&726
496
20.176
UDrestrl<ivJ
Total
202
Geoeral
sthlfcosts
Wagesaro salarits
Pen5iQD
fees
ofthe financial sth*ineffis
Oth¢rf¢¢s toauditors
Othergov¢rnanr¢ rosts
All￿ated supportcosts
4.716
4.716
1.083
3.001
3,095
3J57
3.661
3,095
3.357
888
16.805
16.8D5
5 Tru$tees t*MunEr¥tlots EipeTrxs
No ￿sItt$ have rec¢i%'¢d any rtirnbuysed expenst$ from the charity th]rinB the year.
6 S¢aff costs
The 4greka* pwoll w*sw¢r¢ a5 folhMvs.'
Page 16

Th¢ HeiD4 Corol Kroch Foulldgtion
Notej to tht PinJLD¢iAI StaterneDts for the Year EDdcd 31 Mlrch 2021
2021
20ZO
Stsfleost5 durlThB the ytArwere'.
Wa¥ts and salar
Pert5Kbn costs
23.8r
5.442
23.578
5.442
29251
29.1)20
Ntrthnpltryee reetiyed tmtslumts￿$ ofnKJre £60.1￿ durin8tht)rar
The monthly 4v¢rnge nwnber of wr3on$ lllw1ydl￿ Jenior leam) ernplD)Yd by the charity d￿n8 the
year¢xpres5Ed ssfull r4uivalents wa5 a5 follow5".
2021
202
Thpav¢r1￿ nurntr¢r ofeThploy¢¢5 duringilK
7 A￿dIt•￿' reinufitratlo
2020
Audit ofthE fIn￿CIal Maierrths
3.819
3.661
Othtr ftt5 to audI1￿r
All (*herh(xl4￿ll s¢tvt¢es
3275
3.095
PaBe 17

Tht HtiD4 ADDI And Cllrol Krorh Foundatio
Ploles to ihe St*ttmtttts for the Year Ettded 31 M&Teh 2021
8 T#AatioTr
The ¢hthty isa registeredcherity is th¢Rfore ¢xry fr0mtsxstl(￿.
9 Tallgibk tlx¢d 055ets
FurniiureA#d
pmeTrt
Tot*1
Cfyst
Ai l April 2020
Ai 31 March 2021
ikpreliaiion
At l April 2020
At 31 Marrh 2021
rt v*lut
Al 31 March 2021
Al 31 March 2020
P4e 18

The Htlth& CArol Kroch Foundation
Notes to the FinAneial Stat¢meDts for the Year EDdd 31 MAr¢h 2021
10 A￿¢1 iDvul]nents
2021
102
InVest￿￿￿ts
6.310.850
4,79&717
Totsi
Cwl orvil￿￿*￿>
At l April 2020
REv&luatlDn
Athiiion5
Dis￿￿15
4,796.716
4.7%.716
1.078.972
1.078.9
6.657.748
6.657.748
{6.222.586) 16.222.586
Ai 31 M4fch ?O?I
6.310.850
6.310,850
knk ￿lut
Ai31 Mwch 2021
0.310.850
6JID,850
Ai 31 M¥th 2020
4.79(716
4.796,716
11 CAih ¢wh t￿￿1vIl¢￿ts
20ZD
Ctsh at b￿L
12 cr￿110T$.. f*lli¥due wlthlm olleyur
2021
2020
l)ther ILution Hnd soc￿1 Jcrurity
Other ￿￿110
Acctu&li
742
1.606
3.547
5J18
16.726
13 P¢n$H>n ¥nd ￿hersChemeS
l)ellntd roBlrlbutthts pthstDn Kh¢￿¢
Thc chbrit) OFKYatr5 a d¢fin¢d contribution pension 5chen*. The ￿my10￿ ¢03¢ Ch￿8¢ for the ye4r represents
contributions payable by the chtrity iothe scheine Ènd aMoL￿1¢d ￿ u.44212020- £5,442).
Pa￿ 19

The Hein4 ADlla and Cgrybl Kro¢h Foundation
Notej to tht Fitt*n¢ixl StattrneDts for the Year Endert 31 M*r¢h 2021
14 Funds
Olher
reeognl￿d
{￿l￿5)nD&￿e>
Dre￿t I
April 2DIO
Incoming
Rtsourc
expEndtd
Jl M•reh
202I
Ullrt51ricled
Gen
5.348.831
6.447.406
Other
Resour¢es re¢oktsi*l
B*11￿Ce￿I
B•l*p¢t 81 1
rts0￿￿
U•TCStrlcted
Un￿sM(*d ger￿ra] fun
7.149.858
J17.492
31&4r
1.802.115
5.34&831
15 ADilyyLT of•et ￿13 between
Unrestrt•¢d
ruDd5
Tothi Thn¢J$AI
31 March
2021
Fixa in¥e5tnKnts
Cyrrem assets
6JIO.8
0.310.850
142.374
loial rrtt assets
li
6.447,4(
6.447.406
VDTe5tritted
fund5
Totsl t¥Trd5 *1
31
2020
Fixel a55¢t
Current
Current liabtlities
4.796,717
568.840
4.796.717
568.840
Pw20

The Heill4 and Carybl Kroth FouDd•tio
1¥40teJ to the FiDaDcial StsterneDts for the Ytar Ended 31 M*r¢h 202J
16 Re￿tt￿ p•rty trnni8clions
Duringihv se4r th¢ ch3riry madethe following re￿£4 rqrrytr4nsacFiO
Mr8 B Asi
14 Asile. the foLmdaiions adminthtor is dwghter tn-law of one oftk H Astlt. B Astlt
received s313ry of £?3.860 12020. £23.5791 and [￿nsIon ¢QDtrI￿nO￿$ of £8.4d2 12020.. £5.4421 as administrdwr.
Thr rcmuncration 15 by the knard. Al the bhLqnce sheet date the smoulli due ￿ Mrs ts Astle £1.60612020-
£1.6061.
P4g¢21