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2025-03-31-accounts

Charity registration number 207622 (England and Wales)

THE HEINZ, ANNA AND CAROL KROCH FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

CONTENTS

Page
Trustees' report 1 - 4
Statement of trustees' responsibilities 5
Independent auditor's report 6 - 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11 - 19

THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees H Astle
D Lang
J Seagrim
X Lang
C Rushbrook
Senior management B Astle - Administrator
Charity number (England and Wales) 207622
Principal address PO Box 327
Hampton
TW12 9DD
Auditor Xeinadin Audit Limited
Riverside House Kings Reach Business Park
Yew Street
Stockport
SK4 2HD
Bankers HSBC Bank PLC
120 Church Street
Eccles
Manchester
Greater Manchester
M3 0LS

THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their annual report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the financial statements and comply with the charity's constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

Objects and aims

The charity's principal object is to apply its income to assist those people suffering severe poverty.

The trustees have set out to achieve this by making grants to people in need.

Objectives, strategies and activities

The foundation has made 592 grant awards in the current year totalling £131,235. (2024: 593 grants totalling £169,850).

Public benefit

The foundation applies the investment income for the public benefit by making grant awards to people suffering from significant financial hardship.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Grant making policies

Applications for grants are considered by the trustees at bi-monthly meetings. Grants tend to be of modest amounts and are intended to assist people in need. Most applicants come through other charities and local authorities.

Grants continue to be small in value and targeted at the lower end of the social scale.

THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance

592 Individual grants were distributed which equalled the amount made in the previous year. This totalled £131,235 of which £55k was awarded in grants involving incidents of domestic abuse.

From June 2024 the foundation saw the highest level of enquiries since 2013. This produced a nine month backlog and created major disruptions in the day-to-day running of the office. To address this demand a number of new initiatives were put in place. The office discontinued receiving external calls and direct communication from the general public. Clients were advised to contact their respective representatives in all cases. A process management system was created to address the influx of enquiries and the haphazard manner in which applications were being submitted. Phase one of this new initiative involved an initial assessment to ascertain if assistance could be provided or in some cases, alternative pathways and solutions were offered. Findings indicated that nearly 50% of enquiries either failed to meet the foundation’s eligibility criteria or the request was significantly too large for consideration.

Phase two of the initiative focused primarily on addressing the significant discrepancies in the applications being submitted. Guidance was also provided to representatives to produce quality submissions. With these procedures in place, the trustees feel they are in a much better position to make informed decisions as part of the overall assessment process. All initiatives have been integrated successfully, efficiently executed and will be used for the foreseeable future as the official route for managing all enquiries. The new financial year will continue to present a number of challenges but the trustees are confident in providing unceasing support to those who are facing financial hardship.

Financial review

Going concern

The board of trustees has a reasonable expectation that the foundation will have adequate resources to continue in operational existence for the foreseeable future. For this reason it continues to adopt the going concern basis in preparing the financial statements.

Policy on reserves

It is the policy of the trustees to maintain the unrestricted funds, which are the free reserves of the charity, at a level of a least six months expenditure. This provides sufficient funds to cover management and administration costs and to respond to emergency grant applications. Unrestricted funds remained considerably above this level throughout the year.

Principal funding sources

The foundations principle funding source is the investment income generated by the investment portfolio.

Investment policy and objectives

The Kroch Foundation’s fund manager is CCLA, with whom the Foundation holds units in the COIF Charities Investment Fund (Investment Fund). The Investment fund is a pooled multi-asset investment vehicle with a large number of underlying investors and approx. £3.75 bn of assets and best suited to the Foundation’s income and capital growth requirements. As of 31st March 2025, the value of our investment was £6.858 million (excluding cash held in the COIF Charities Deposit Fund which was approx. £94k). The forecast annual income for the COIF Charities Investment Fund for calendar year 2025 is £201,508 representing an investment yield of 2.94%.

Structure, governance and management

Nature of governing document

The Heinz, Anna and Carol Kroch Foundation is a registered charity (No. 207622) and is governed by trust deeds dated 23rd March 1962 and 7th August 2014.

THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The Trustees who served during the year and up to the date of signature of the financial statements were: H Astle

D Lang J Seagrim X Lang C Rushbrook

Recruitment and appointment of trustees

The charity is governed by its trust deeds which state that the selection and appointment of new trustees is at the discretion of the chairman.

Organisational structure

The administrator reports to the board at their bi-annual meetings.

Induction and training of trustees

The induction process includes a meeting with the Chair of Trustees who explains a brief history of the foundation,the investments, the grant making process, powers and responsibilities of the trust board.

Arrangements for setting key management personnel remuneration

The foundation employs an administrator whose salary is reviewed by the board annually.

Financial instruments

Objectives and policies

The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Cash flow risk

The charity’s activities expose it primarily to the financial risks of investment yields and interest rates.

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Credit risk

The charity’s principal financial assets are bank balances and investments.

The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The charity has no significant concentration of credit risk.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity caps the grants made to the annual income from its portfolio, after ensuring sufficient reserves are retained for its administration costs.

Disclosure of information to auditor

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The trustees' report was approved by the Board of Trustees.

.............................. D Lang Trustee Date: .............................................

.............................. C Rushbrook Trustee

THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2025

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

Opinion

We have audited the financial statements of The Heinz, Anna and Carol Kroch Foundation (the ‘charity’) for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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 work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

Responsibilities of Trustees

As explained more fully in the statement of trustees' responsibilities, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

We assessed the susceptibility of the trust's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Xeinadin Audit Limited, Statutory Auditor Chartered Accountants Riverside House Kings Reach Business Park Yew Street Stockport SK4 2HD Date: .........................

Xeinadin Audit Limited is eligible for appointment 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.

THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted Unrestricted
funds funds
As restated
2025 2024
Notes £ £
Income from:
Donations and legacies 2 20,000 -
Investments 3 201,468 196,828
Total income 221,468 196,828
Expenditure on:
Charitable activities 168,818 208,618
Total expenditure 168,818 208,618
Net gains/(losses) on investments (335,144) 597,063
Net income/(expenditure) and movement in funds (282,494) 585,273
Reconciliation of funds:
Fund balances at 1 April 2024 7,392,623 6,807,350
Fund balances at 31 March 2025 7,110,129 7,392,623

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 11 to 19 form part of these financial statements.

THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

BALANCE SHEET

AS AT 31 MARCH 2025

Notes
Fixed assets
Tangible assets
10
Investments
11
Current assets
Debtors
13
Investments
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
The funds of the charity
Unrestricted funds
17		 2025
£
£
211
6,857,994
6,858,205
49,498
94,267
112,874
256,639
(4,715)
251,924
7,110,129
7,110,129
7,110,129		 2024
As restated
£
£
-
7,193,138
7,193,138
48,337
89,817
65,935
204,089
(4,604)
199,485
7,392,623
7,392,623
7,392,623		 2024
As restated
£
£
-
7,193,138
7,193,138
48,337
89,817
65,935
204,089
(4,604)
199,485
7,392,623
7,392,623
7,392,623
7,193,138
199,485
7,392,623
7,392,623
7,392,623

The notes on pages 11 to 19 form part of these financial statements.

The financial statements were approved by the Trustees on .........................

.............................. .............................. D Lang C Rushbrook Trustee Trustee

THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

The Heinz, Anna and Carol Kroch Foundation is an unincorporated charity.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, unless otherwise stated in the relevant accounting policy notes. The principal accounting policies adopted are set out below.

1.2 Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

1.4 Income

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Grant provisions

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustee’s meetings and reimbursed expenses.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Office equipment

25% straight line

1.7 Fixed asset investments

Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.11 Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable entity for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

1.12 Retirement benefits

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts 20,000 -

THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

3 Income from investments

Unrestricted Unrestricted
funds funds
As restated
2025 2024
£ £
Dividend receivable from other listed investments 196,792 192,532
Interest receivable 4,676 4,296
201,468 196,828

4 Grants payable

Grants of £131,235 (2024: £169,850) were awarded during the year. £4,443 (2024: £1,533) of grants awarded were not taken up.

Total grants paid of £126,793 (2024: £168,317) included grants to institutions totalling £nil (2024: £24,087). Total grants paid to individuals totalled £126,793 (2024: £145,763).

5 Support costs allocated to activities

Basis of allocation
Staff costs
Hours
Office expenses
Other services
Insurance
Bank charges
Depreciation
Governance		 Total
2025
£
25,442
1,529
375
211
48
19
14,401
42,025		 Total
2024
£
25,442
1,477
-
209
48
-
13,955
41,131

THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

5
Support costs allocated to activities
Governance costs comprise:
Staff costs
Accountancy costs
Audit costs
Insurance
Bank charges
Share of support costs
6
Auditor's remuneration
Fees payable to the charity's auditor and associates:
For audit services
Audit of the financial statements of the charity
For other services
All other non-audit services		 (Continued)
2025
2024
£
£
6,360
6,360
3,420
3,326
4,080
3,900
53
-
12
-
476
369
14,401
13,955
2025
2024
£
£
4,080
3,900
3,420
3,240		 (Continued)
2025
2024
£
£
6,360
6,360
3,420
3,326
4,080
3,900
53
-
12
-
476
369
14,401
13,955
2025
2024
£
£
4,080
3,900
3,420
3,240
13,955
2024
£
3,900
3,240

7 Trustees

Two trustees have been reimbursed for travel expenses from the charity during the year totalling £771 (2024: £625).

8 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
1 1
Employment costs 2025 2024
£ £
Wages and salaries 26,360 26,360
Other pension costs 5,442 5,442
31,802 31,802

There were no employees whose annual remuneration was more than £60,000.

THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

9 Taxation

The charity is a registered charity and is therefore exempt from taxation.

10 Tangible fixed assets
Office
equipment
£
Cost
At 1 April 2024 4,131
Additions 230
At 31 March 2025 4,361
Depreciation and impairment
At 1 April 2024 4,131
Depreciation charged in the year 19
At 31 March 2025 4,150
Carrying amount
At 31 March 2025 211
11 Fixed asset investments
Listed
investments
£
Cost or valuation
At 1 April 2024 7,193,138
Valuation changes (335,144)
At 31 March 2025 6,857,994
Carrying amount
At 31 March 2025 6,857,994
At 31 March 2024 7,193,138
12 Financial instruments
2025 2024
£ £
Carrying amount of financial assets
Instruments measured at fair value through profit or loss 94,267 89,817

THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

13
Debtors
Amounts falling due within one year:
Prepayments and accrued income
14
Current asset investments
Unlisted investments
15
Creditors: amounts falling due within one year
Other taxation and social security
Accruals and deferred income
16
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2025
2024
As restated
£
£
49,498
48,337
2025
2024
As restated
£
£
94,267
89,817
2025
2024
£
£
965
1,034
3,750
3,570
4,715
4,604
2025
2024
£
£
5,442
5,442		 2025
2024
As restated
£
£
49,498
48,337
2025
2024
As restated
£
£
94,267
89,817
2025
2024
£
£
965
1,034
3,750
3,570
4,715
4,604
2025
2024
£
£
5,442
5,442
2024
£
1,034
3,570
4,604
2024
£
5,442

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £5,442 (2024 - £5,442).

17 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April Incoming Resources Gains and At 31 March
2024 resources expended losses 2025
£ £ £ £ £
General funds 7,392,622 221,468 (168,817) (335,144) 7,110,129

THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

17 Unrestricted funds (Continued)
Previous year: At 1 April Incoming Resources Gains and At 31 March
2023 resources expended losses 2024
£ £ £ £ £
General funds 6,807,349 196,828 (208,618) 597,063 7,392,622
18 Analysis of net assets between funds
Unrestricted
funds
2025
£
At 31 March 2025:
Tangible assets 211
Investments 6,857,994
Current assets/(liabilities) 251,924
7,110,129
Unrestricted
funds
2024
As restated
£
At 31 March 2024:
Investments 7,193,138
Current assets/(liabilities) 199,485
7,392,623

19 Related party transactions

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

Mrs B Astle

Mrs B Astle, the foundations administrator is the daughter in-law of one of the trustees Mrs H Astle. Mrs B Astle received salary of £26,360 (2024: £26,360), pension contributions of £5,442 (2024: £5,442) and expenses of £145 (2024: £601) as administrator. The remuneration is set by the board. At the balance sheet date the amount due to Mrs B Astle was £nil (2024 - £nil).

THE HEINZ, ANNA AND CAROL KROCH FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

20 Prior period adjustment

In previous periods the dividends receivable from investments were recognised when received. This has been corrected to recognise dividends declared but not received in the period.

Additionally, there has been a prior year adjustment in relation to investments in CCLA that were originally recognised as bank and have been reclassified to current asset investments.

These adjustments have had the following effects in the prior year:

Accrued income debtor increase £48,335

Unrestricted funds brought forward increase £47,596

Investment income increase £739

Current asset investments increase £89,817

Bank decrease £89,817