CHARITY REGISTRATION NUMBER: 00273258
THE FRIENDS OF THE IVEAGH BEQUEST, KENWOOD
Unaudited Financial Statements
31 December 2024
IOANNOU & CO
Chartered accountants
767-769 High Road
North Finchley
London
N12 8JY

THE FRIENDS OF THE IVEAGH BEQUEST, KENWOOD
Financial Statements
Year ended 31 December 2024
Page
TFUStees' annual report
Independent examinels report to the trustees
Statement of financial activities
Statement of financial position
Noles to the finan￿81 statements
The following pages do not form part of the financial statements
Detailed statement of financial activibes
16
Notes to Ihe detailed statement of financial activities
17

THE FRIENDS OF THE IVEAGH BEQUEST, KENWOOD
Trustees. Annual Report (eonllnu8dJ
Year ended 31 December 2024
The irustees preseni their re[￿ and the unaudited financial statements of the charity for th¢ year ended
31 December 2024.
Chalr's report
2024 ha5 been a very active year for the Friends of Kenwood. The Masterplan for the House and Estate was
finally submitted to the Board of English Heritage. The Plan. two years in the making, wa5 partly fijnded by
the Friends. It looked at the ch￿lenge of scale of maintenance required to reslore th¢ house to its glory. Its
scope covered the financial challenges and the opportunilies. It recognised that change could not happen
overnighL and we hope its re¢ommendations will be implementd over the coming years.
After many j'ears discussing restoration, the Friends contribthed to th¢ ￿Ork on restoring and ¢onserving the
Bath House. Its opening in 2025 is v¢ry welcome.
In 2018, FOK pruvided funds for a Lonservdlion proj¢cl of ihe Andover AlbuTTrS, und. in 2023, the Friend
supported EH in undertaking the digitisation as well as conservation. Work was finally completed in October
2024. The Andover Albums will eventually be available on the Kenwood page of the EH website and on
ArtUK.
FOK Tnade a grani of £15,0￿ towards a WIFI and AV upgrade of the Lecture Room. The work was finally
completed this March and will mgke a significant difference to our lecture program¥ne.
The 1956 watercolour of the Adam Library by Frank Hoar was pur¢hased with funds provided by FOK.
In Autumn 2024 the Council of FOK agreed to fully support an exhibition of John Singer Sargent's portraits
of American Heire55es. This is an e¥citing new approach by the Friends. Our agreement with English
Heritage has meant we have efftbarked on a significant fundraising exercise to enable English Herstsge to
stsge major exhibitions ai Kenwood once again. The Exhibition, which will open in May 2025, brings
together a number of portrails from the United States as well &$ char¢oal drawings. Our thanks to Helen
Payne, Ken Solomons and Mark King who are representing FOK on the joini delivery committee. And io
Mala Gole who is organising FOK ev¢nis to coincide with ihe exhibition.
The exhibiiion would not be happening wiihoui the amazing involvemeffl of FOK Council member Richard
Orniond and Senior EH Curator Wendy Monkhouse.
The Exhibition means that a total of 29 paintings from ihe Music Room and elsewhere will be out on loan to
Gainsborough's House Museum for exhibition entitled 'Masterpiece5 from K¢nwood.' The Splendour of
British and French Painting,. The exhibilion will run from 3 May -19 (ktober.
The past year has seen a number of loans from Kenwi)od. highlighting the extrnordinary collection.
Rembrandt's self-portrait was loaned to Vienn4 the Frans Hals weni io ihe Nationa] Gallery, the
Rijksmuseum and the Gematdegalerie Berli￿ and Romn¢y's painling of Emma Hart (Lady Hamilton) was
loaned to Naples.
The Friends have also 8￿ed to fund a unique exhibition in the Autumn of 2025 "Double Vision: Vernieer"
OLsr ￿ant enables Kenwood to bring on loan a painting from Philadelphia Museum of Affj long attribufrd to
Vem)e¢r to trt s¢¢n side by side with Kenwood's Guitar Player.
We have had an exciting seri¢s of lectures during 2024. Our thanks to Angcla Cox, Pat Hardy, Jerzy KieTkuc-
Bielinski and Richard Orniond for yet again finding a wondertul group ot speakers. One highlight Wo5 ihe
lecture by Dr Adriano Aymonino on the Grand Tours of Robert and James Adam. Dr Aymonino's le¢tur¢
followed by a drinks reception in the Upper Hall, which was well attended, as was ihe members,
Christma5 drinks party. Thanks once again to Mala Gole for all the arrangemenls.
Our newsletters continue to be well received. Nichol&8 Fielding and Helen Payn¢ work tirelessly to ensure
members are well infornied of events at Kenwood and tlie surrounding area. Thanks to both of them for a]1
the work they do to make the newslelter so impactful.
Thank's to Mark King for organising members, visits including a memorable visil to Si Bartholemew's wl)ere
restoralion of the Hogarth stairc&%e is ongoing.

THE FRIENDS OF THE IVEAGH BEQUEST, KENWOOD
Tru3tee8' Annual Report (¢onllnu•dJ
Year ended 31 December 2024
The considerable expertise on the FOK Council means we have been able io benefil from the invaluable
contacts and knowledge of Sally Doganis and Tracy AbTaham, which we can draw upon in our partnership
with English Heritage in owising the 'Heiress" ¢xhibition.
We are grateful to all our members for theiT loyal sUPPOrt. to our Vermeer and Rembrandi Friends ond a150
to our Benefactors Julius Baer, Killik, and the Rubin Foundation.
English Heritsge have re¢ognised the significant contribution FOK made to the House and Estate by
installing an acknowledgment panel in the House and recognising a significant legacy by a Friend.
li has noi been an easy year for El l. Bad weather in the summer meant visiior numbers to the e￿￿e were
significantly down and they embarked on a reorganisatiort which will affect all their prop¢rti¢s, in¢luding
Kenwo¢)d.
Finally, I cannoi complete this annual report withoutthanking our Treasurer Ken Solomons who ettsures our
accounts are in order and oversees our considerable investments. This has enabled us to support more things
atK
than w
Id have been possible a few years ago.
Dame Jenny Abr
Chair of TTUSte¢s
21 March 2025

THE FRIENDS OF THE IVEAGH BEQUEST, KENWOOD
Trustees. Annual Report (contlnued)
Year ended 31 December 2024
Referell¢e And admlnlstrAtlve detslls
Regilter￿] charity name
Charity regbtration number
Principal office
THE FRIENDS OF THE IVEAGH BEQUEST, KENWOOD
00273258
Kenwood House
Hampsiead Lane
London
NW3 7JR
The trustees
Dame J G Abramsky
Mr K S Solomons
Mrs M tiole
Mrs A Cox
Mrs S E Doganis
MrMBKing
Mr R L Orniond
Ms H E Payne
MTS T C Abraham
Mr J J Kierkuc-Bielinski
Mr N Fielding
Dr P J Hardy
Company s•cretary
Independent examlner
Mrs Mala Gole
Constantinos E. loannou FCA
Structure? gov¢rD8nee 4nd m4nagemen¢
The Friends Of The Iveagh Bequest. Kenw¢X￿￿. also known as "The Friends of Kenwood" is constituted as
unincoTporated charity, the a¢iiviti¢s of which are governed by a tnL8t d¢¢d dated 27th February 1977 as
amended on 15th April 2012 a5 amend¢d on 15th September 2021.
The trustees oversee and authorise all expenditure of ihe charity as well as Éhe main fund-rdising events.
Objectives and #ctivities
'I'he Obje￿ of the charity is the promotion and improvement of th¢ ameniry for th¢ publi¢ at 18rg¢ of the
Kveagh Bequesi, including Kenwood House, Hampstead Lane, London NW3 7Jll ils eslate and collections,
through the support and assistanc¢ of a group of Friends.
Aehlevements and performanee
Grants were made to English Heritsge durtng 2024 towards the conservation of ihe B*h House at Kenwood
and as a substantial contribution to the cost of upgrading ihe audiovisual equipment in the Le¢￿re Theatre.
We worked closely with English Heritage on the planning of an exhibition "Heiress.. Sargent's American
Sitters". whirh is planned to take place at Kenwo(MJ between May and October 2025.
As in previou5 >'ears a successful prograrnme of talks was presented in the Lecture Theatre, together with a
live-stream link for members who were unable to attend in person.

THE FRIENDS OF THE IVEAGH BEQUEST. KENWOOD
Trustses. Annual Report (eonllnued)
Year ended 31 December 2024
Financial revie
We have continued our programme of phased bank deposits and two ¢harity ESG funds and the returns from
these investments are refl￿ted in the accounts.
English H¢ritage has paused work on the development of the Kenwood Ma5terplan and we do not expect to
se¢ any request from ihem for granis in this connection during 2025.
Plans for future periods
The ¢hariry will continue the promotion of its obj¢ctives and the support of English Heritage.
¢es'
ual report was approyed on 21 Mawh 2025 and signe
behalf of the board of trustees by..
DameJGA
Trust¢¢
amsky
MrKS
Trustee
olomons

THE FRIENDS OF THE IVEAGH BEQUEST, KENWOOD
Independent Examiner's Report to the Trustees of THE FRIENDS OF THE
IVEAGH BEQUEST, KENWOOD
Year ended 31 December 2024
I report to the trustees on my examination of the financial stalefftents of THE FRIENDS OF THE IVEAGH
BEQUEST, KENWOOD ('the charity'l for the J'ear ended 31 December 2024.
Responsibilities and ba515 of report
As the trustees of the ¢harity'. vou are responsible for the preparation of ihe financial statements in accordance
i¥iih the requirem¢nrs of tlie Charities Act 2011 ('the Aet'l.
I report in respect of mv examinaiion of the cliarity s financial stateinents carried out under section 145 of
the 201 l Act and in carrving out my examination I have follo￿"ed all the applicable Directions gii'en b).. the
Charity Commission under section 145(51(b) of the A¢t.
Independent examiner's statement
I have completed m}, examination. I confirm tliat no material matters have come to my attention in conneciion
with the examination giving me cause to believe thai in any Inaterial respeci..
accounting records were not kept in respect of the chariry as required by section 130 of the Act.
or
the financial statements do not accord with those records,. or
the financial statements do not comply lllliih the applicable requirements conceming the fom and
content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than
an). requirement that the accounts give a 'true and fair, view which is not a matter considered as
part of an independent eAaminaElOn.
I have no concerns and have come across no other matters in connection u'ith the examination to which
attention should be drawn in this
eport in order to enable a proper understanding of the accounts to be
r¢a¢lied.
Constantinos E. loannoii FCA
Indepeiident Exaininer
Chartered Accountant
767-769 High Road
North Finchley
London N12 8JY.
21 March 2025

THE FRIENDS OF THE IVEAGH BEQUEST, KENWOOD
Statsment of Financial Activities
Year ended 31 December 2024
2024
Restricted
funds Totsl funds
2023
Unrestricted
funds
Total fi]nds
Income aDd endowmellts
Donations and legacies
Other Irading activities
Investment income
17,822
7,575
11,423
15,000
32,822
7,575
13,821
15,998
7,695
13.057
2.398
Total income
36,820
17.398
54218
36.750
Expenditure
Expenditure on ¢haritable a¢tivities
Totsl expenditure
43,482
43,482
20,431
43,482
43,482
20,431
Net gains on investments
(8.375)
(1,919)
(10,294)
(3,263)
Net Ineome net n)ovement in funds
1.713
19,317
21,030
19.582
Reeoneiliation of funds
Total funds broughi forward
Total funds earried forward
407,076
408.789
88.787
495,863
476,281
108,104
516,893
495,863
The statement of financtal athivities includes all gains and losses recogni5ed in ihe year.
All income and expendiiure derive from continuing activilies.
The notes on pages 8 to 14 form part of these flnancial statements.

THE FRIENDS OF THE IVEAGH BEQUEST, KENWOOD
Statement of Flnancial Position
31 December 2024
2024
2023
Fiied a￿et5
Investments
13
198,557
83,263
C￿rrettt a$8ets
Debtors
Cash at bank and in hand
14
8246
312,052
10.652
403,815
320,298
414,467
Credltors: amounts falling due withiD one year
Net eurrellt assets
15
1,962
1.867
318J36
412.600
Totsl *s3ets less current Mobilities
516,893
495.863
Funds of the charity
Restricted funds
Unrestricted funds
108,IIH
40&789
88.787
407,076
Total Charity funds
16
516,893
495,863
These financial stst¢ments were approved by the board of trustees and thorised for issue on 21 March
202
d are signed on behalf of the board by:
DameJGA
Trustee
amsky
Mr K S Solomons
Trustee
The notes on pages 8 to 14 fomi part of these financlal statsm•nts.

THE FRIENDS OF THE IVEAGH BEQUEST, KENWOOD
Notes to the Flnancial Statements
Year ended 31 December 2024
GeDeTal iDformatioD
The charity is a public benefit eniity and a registered chariry in Eftgland and Wales and is
unin¢oTporaied. The address of the principal otTiee is KenW(j￿ House, Hampsiead Lane, LO￿lon, NW3
7JR.
S¢atemen¢ of ¢omp]iance
These financial stalements have been prepared in ¢ompliance with FRS 102, The Financial Reporting
Standard applicable in the UK and the Republic of Ireland,. Ihe Stsiement of Recommended Practice
applicable to charities preparing their accounts in accordance wilh the Financial Reporting Siandard
applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (r.RS 102)) and the Charities
Act2011.
A¢¢ouDting poll¢les
Basis of preparatlo
The financial statements have been prepared on the historical cosi basis, as modified by the revaluation
of certain financial asse￿. and liabiliti¢s and investment pn)p¢rti¢s measured ai fair valu¢ ihTuugh
income or expenditure.
The finan¢ial statements are prepared in sterlin& which is the functional currency of the entity.
Golng ¢oll¢er
There are no material uncertainties aboui the charity's ability to coniinue.
Judgements and key $ouree3 of estimation uneertslnty
The preparntion of the financial ststements requires management to make judgements, estimates and
assumptions that affcct the amounts r¢portcd. These estimatcs and judgcmcnts arc continually rcvi¢wcd
and are based on experience and other factors, including expectslions of future events that are believed
to be Teasonable under the circumstances.
Fund a¢¢ountlng
Unrestricied funds &re available for use at the discretion of the trustees to further any of the charity's
purtx)ses.
D¢signat¢d fw)ds are unrcstricted funds eannark¢d by the trustees for particular futyrc project or
commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through ihe
tertns of an appe￿ and fall into one of iwo suiFclasses.' restricted in¢ome funds or endowment fwids.

THE FRIENDS OF THE IVEAGH BEQUEST, KENWOOD
Notes to tho Flnan¢ial Statements (conllnued)
Year ended 31 December 2024
Aeeounting poii¢i¢s (CQnllRued)
Investments in assoei4tes
Incoming res0￿reeS
All incoming resour¢es are included in ihe statement of financial activities when entitlement has passed
lo ihe charity; it is probable that the economic benefits associated with the transaction will flow to th¢
charity and the amount can be reliably measured. The following specific policies are applied to
particular categori¢s of income..
income from donations or grants is recognised when the￿ is evidence of ¢ntitlement to the gift.
receipt is probable. and its amount ¢an be measured r¢liably.
legacy income is recognised when receipt is probable. and entitlement is established.
income from doftated giK>ds is measured at the fair value of the go(Kls unless this is impra¢tical lo
iiie&sure reliablj, in which case the value is derived froni tlie cost to the doiior or tl)e estiinated
resale value. Donated fa¢iliti¢s and services are recognised in the accounts when received if the
value can be reliably measured. No amounts are included for ihe contribution of general
voluni¢ers.
income from cOntra￿S for the supply of servi¢¢s is recognised with the delivery of the ¢ontrxted
service. This is claqsified &s unrestricled funds unless there is a contractual requirement for il to
be spent on a particular putpoge and retumed if unsp¢nL in which c&5e it maj be regarded as
restricted.
Resources expended
Expenditure is r¢¢ognised on an accruals basis as a liability is incurred. Expendilure includes any VAT
which cannot be fijlly recovered, and is classified under headings of the stat¢ment of financial activities
to which it relat¢5.'
expendith on raising funds includes the costs of all fundraising activities. events, non-charitable
trading actlvilies, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
a¢iivities thai further its chariiable aims for ihe benefit of its beneficiaries, including ihose support
costs and costs ￿lating to the govemance of the ¢harity apportioned lo ¢haritable activities.
other expenditure includes all expenditure that is neither relat¢d Eo raising funds for the ¢h8rity
nor part of lis expenditure on charitable activities.
All costs are allocated to expenditure ca￿gorieS reflecting the use of th¢ resowce. Direct costs
attributable to a singl¢ activity are allocated directly to that activity. Shared costs are apportioned
beiween the activities they ¢ontribute to on a reasonable. justifiable and consistent b&8iS.
IDvestmemts
Unlisted equity investments are inilially recorded at cost and subsequently measured at fair vtllue. If
fair value c9￿not be reliably measured, assets are Tnea5ured at cost less impaiTTnent.
Listed investments are measured at fair value with changes in fair value being recognised in income or
expenditure.
Financial instruments
Finan¢ial instruments are classified atut accounted for, according to the substance of the contractuai
arrangement, as either fin)n£ial assets, financial liabilities or e4uity instrurnents. An equity instrum¢ni
is any contracl that ¢vid¢n¢¢s a residual interest in the &ss¢ts of the company after deducting ail of ils

THE FRIENDS OF THE IVEAGH BEQUEST, KENWOOD
Notes to the Flnancial Ststements fcontlnu8dJ
Year ended 31 December 2024
DoDation5 aDd legacies
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Donation$
Donations
1.623
1,623
i*ga¢ies
Legacies & Bequests
Gifts
Corporale Benefactors
SubscriptiODS
Subscriptions Annual M¢mb¢rs
Subscriptions Life Members
Subsoriptions RembTandt Members
Subscrsptsons Vcrmcer Members
Gift Aid Repayments
12,000
12,1)00
1,500
8.746
1,125
900
1,500
2.428
8,746
1.125
900
3.000
5A28
17,822
15,000
32,822
Unrestricted
Funds
Reslricted 1 otal Funds
Funds
2023
Donatiolls
Donations
442
442
Leg4cies
Legacies & Bequests
Girts
Corporate Benefactors
Subscriptions
Subscriptions Annual Members
Subscriptions Life Members
Subscriptions Rembrandt Members
Subscriptions Veme¢r Members
Gift Aid Repayments
1.500
1.500
8.360
2.375
600
750
1.971
8,360
2,375
750
1,971
15.998
15,998
Other trading activities
Urwestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Fundraising events
7,575
7,575
7.695
7.695
10

THE FRIENDS OF THE IVEAGH BEQUEST, KENWOOD
Notes to th• Financial Statements (condnu
Year ended 31 December 2024
Investment Sncome
Unrestricted
Funds
Restricted Total Funds
Funds
2024
B&nk interest receivabl¢
11.423
2.398
13021
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Bank inl¢rest receivable
12,319
738
13,057
Expendllure on ebaritable 4¢tivities by fund type
Unrestricted
Funds
Restricted TotAI Funds
Funds
2024
Charitsble A￿1VAtIeS
Support costs
41,440
2.042
41,440
2,042
43,482
43,482
Unr¢stricled
Funds
Restricted Tolai Funds
Funds
2023
Charitable Aclivities
Support costs
11,808
2,123
6,5(10
18,308
2,123
13,931
6,500
20,431
Expendlthre on ehjritsble ¥c¢ivltles by lctlvlty type
Activities
undertaken
directly Support costs
Totsl funds
2024
Tota] fund
2023
Charitable Activities
Governance costs
41.440
41,440
2,042
18,308
2,123
2,042
41,MO
2,042
43,482
20,431
Net gains OD iDvestments
Unrestri¢led
Funds
Restricted Total FuDds
Funds
2024
Gains/(losses) on listed investments
8.375
1.919
10294
u[￿estrICted
Funds
Resth¢frd Totsl Funds
Funds
2023
Gains/(losses) on listed investments
3,263
3.263
11

THE FRIENDS OF THE IVEAGH BEQUEST, KENWOOD
Notes to the Financial Statements {condnu¢d)
Year ended 31 December 2024
10. IDdepeDdent examin¥tloD fees
2024
2023
Fees payable to the independent examiner foi..
Ind¢p¢ndent examination of the financial statements
900
11. Staff costs
The average head count of employees during the year was Nil (2023.. Nil)-
No ¢mploye¢ ieceived employee benefits of more than £60,tK>O during Ihe year (2023.. Nil).
12. Trustee remuneration and expenses
No trustee received remuneration for their role.
13. IDvestmeDts
Listed
investmellts
Cost or vglugtlon
At l January 2024
Addilion5
Fair valu¢ movements
83363
105,000
10,294
At JI December 2024
J98J57
Impairment
At l J*nu4ry 2024 Yénd 31 December 2024
Carrying amount
At 31 December 2024
19&557
Ai 31 DeLember 2023
83,263
All investments shown above are held at valuation.
FiDallci*I asyets held at fair vAlue
14. Debtors
2024
2023
Prepayments and a¢¢rued income
8,246
10.652
16. Creditors: amounts falliDg dlle wlthlll one year
2024
2023
Trad¢ creditors
1,962
1,867
12

THE FRIENDS OF THE IVEAGH BEQUEST, KENWOOD
Notes to th• Financial Statements (conllnuedl
Year ended 31 December 2024
16. Anatysis of ¢harit*ble funds
UnTestri¢ted fuDds
At
Gains and 31 Deeember
losses
2024
At
l J4nu8ry 20?4
Encome Expenditure
General funds
407.076
36,820
(43,482)
8,375
408,789
At
Gains and J I tk¢ember
losses
At
l January 2023
Incom¢ Expenditure
2023
General funds
384,995
36,012
(13,931}
407,076
Restricted fuDds
At
Gains and 31 December
losses
2024
At
l January 2024
Income Expenditure
Restricted Fund l - des¢
in ales
88,787
17,398
1.919
108,104
At
Gains gnd 31 De¢ember
losses
2023
At
l January 2023
Income Expenditure
Restri¢l¢d Fw)d l - desc
in alcs
91,286
738
(6,500)
3,263
88.787
17. Analysis of net assets between fuDd$
Unreslricted
Funds
R¢stri¢led Tol#l Funds
Funds
2024
Current assets
Cr¢ditot3 l¢ss than l year
Net assets
410,751
(1.962)
108,104
518,855
{1.962)
408,789
108.104
516,893
Unrestricted
Funds
R¢strÉcl¢d Total Furtds
Funds
2023
CU￿nI &sseis
Creditors less than l year
Net ¥ssets
408,943
(1,867}
407.076
88.787
497,730
(1,867)
495.863
88,787
13

THE FRIENDS OF THE IVEAGH BEQUEST, KENWOOD
Notes to the Flnancial Statements (conttttu¢d)
Year ended 31 December 2024
18. Restricted funds
The Restricted Funds are represented by a designaied bank account named as Curatorial Fund
which was established in 2019 by an anonymous donaiion from a member of ihe Charity, amouniing lo
£IOO,000, to which was added the relevani Gift Aid of £25,000. Its prim￿ purpose is to fund English
Heritoge for the cost of mounting temporary exhibitions over a len-year periiKI to raise the profile of
Kenwood House and it5 collections. It may also be used for research and other curdtorial activities. and it is
covered by an agreement betsveen the charity, English Heritage and the donor.
A further restricted fund has been set up in respect of a donation of £12,000 from one of OUT member&
which has been given towards the cost of Tenovating the windows of the South front of Kenwood House.
This project was to have been ¢arried out in the first part of 2025 buL due to finan¢ial Constraints currently
affecting English Heritag¢, only essential repairs ar¢ now due to be implen)ented. Once Eiiglish Heritage is
able to commence the full progTamm¢ of works, the £12,000 will go to them &8 a donation.
As at 31 D¢¢ember 2024 the Testrtcted funds balance was £108,104 (2023 - £88.787).
19. ContiDgeDt liabilltles
During the year, a pledge w&8 made to English Heritage for a dotkation of £60,000 low￿dS the cost of an
exhibition. narned "Heiress.. Sargent"s American Sitters". to take pla¢e at Kenwood between May and
October 2025. The trusiees were advis¢d by English Heritage in late 2024, however, Ihal their financial
position would not allow the exhibition to go ahead. It was then agreed by the In]stees that the chartty
would indemnify English Heritage for the full budgeted cost of the exhibition of £355.000. apart from
£60,000 payable by English l.leritage. fund-raising by the charity and English Heritsge has subsequently
produced pledges from third-party donors, which are antieipated to cover this cost. and ihe trLLsiees believe
that the tinal cost to the charity will not ¢x¢¢ed the Original pledg¢ o1-£60.000.
A pledge w&$ also made io English H¢rilage durtng the year for a donation of £15.000 towatds ihe cost of a
Vernieer exhibition to take place at Kenwood in late 2025. The trustees do not expect to make any further
contribution towards this exhibition.
14

THE FRIENDS OF THE IVEAGH BEQUEST, KENWOOD
Management Inforniation
Year ended 31 December 2024
The followlng pages do not form part of the flnanclal statements.
16

THE FRIENDS OF THE IVEAGH BEQUEST, KENWOOD
Detallad Statsment of Financial Activiti•s
Year ended 31 December 2024
2024
2023
Income and ¢Ddowments
Donatlons and legacies
Donations
Legacies & Bequests
Corporaie Benefactors
Subscriptions Annual Memb¢t3
Subscriptions Life MeTnbers
Subscriptions Rembrandi Members
Subscriptions Vernieer Members
Gift Aid Repayments
1,623
12,000
1,500
8,746
1,125
900
1,500
5,428
442
1,500
8,360
2,375
61)0
750
1,971
32,822
15,998
Otber ¢rgdlng 4¢tfvltl¢s
Fundraising events
7,575
7,695
IDve5thieDt ineome
Bank inierest receivable
13,821
13.057
Total iDeome
54218
36.750
Expendithre
Px[￿nditsre on charitsble a¢tivÉ¢ie5
Insurance
Legal and profes5ionaE fees
Other oiTi¢e costs
Other interest payable and similar charges
Awards and Grants
Costs of Fund-Raising Events
Newsletter costs
Computer & internet expenses
529
484
900
1,563
739
7,000
6,183
3.295
267
2,876
613
26,898
7,112
4,156
398
43,482
20.431
Totsl expenditure
43,482
20,431
Net galns on Investments
Gainsl{losses) on listed invesmients
{10294)
(3,263}
N¢t itt¢om¢
21,030
19.582
16

THE FRIENDS OF THE IVEAGH BEQUEST, KENWOOD
Notss to the Detailed Statsment of Financial Activiti•3
Year ended 31 December 2024
2024
2023
Expenditure on charitsble ae¢ivltles
Ch¥ritsble Aetivitfies
Activities undertaken dlrettly
Sundry expenses
Awards and Grants
Costs of Fund-Raising Events
N¢wsl¢tter
Computer & internet expenses
2,876
26,898
7,112
4,156
398
1.563
7,000
6.183
3.295
267
41,440
18,308
Covernanee costs
Insurance
Examin¢r's Fe¢
Finance charges
529
900
613
484
900
739
2,IM2
2.123
Expenditure on cbaritable a¢tivi¢Èe5
43,482
20,431
17