Charfty Registratlon No. 312865 {England and Wales)
Company Reglstratlon No. 1055588 (England and Wales?
KRISHNAMURTI FOUNDATION TRUST LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

KRISHNAMURTI FOUNDATION TRUST LIMITED
CONTENTS
Page
Legal and adminlstrative infomialion
Tfu8lees' report
2-10
ststement of trustees, re8ponsibilltle8
Independent audito¢$ report
Statement of financial actlvltie8
15-16
Summary of income and expendilure
17
Balance sheet
18
Statement of cash flows
19
Notes lo the financial statements
20-37

KRISHNAMURTI FOUNDATION TRUST LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr. D. A. Hook
Mr. G. Primrose
Mrs. W. Smith
Mr. A. C. Herron
Ms. M Kuyper
Secretary
Mr. G. Primrose
Charlty number
(England and Wales)
312865
Company number
Reglstered offlcè
1055588
Brockwood Park
Bramdean
Alresford
Hampshire
S024 OLQ
Kéy pèrsonnèl
Mr. T. Lehmann
Ms M. Masoumian
Mr. R. Patel
Mr. T. Power
Mrs. K. Power
Cowchair of School Management Committee
Bursar and Co-chair of School Management Committee
Head of Foundation and Centre
Member of School Management Committee
Member of School Management Committee
Sollcltors
Veale Wasbrough Vizards LLP IVWI)
With offices in London. Walford. Brislol and Birmingham
Paris Smith
l London Road
Southampton
S015 2AE
Banker
Nalwesl Bank PIC
Winchester Old Bank
105 High Street
Winchester
Hampshire
S023 9AH
Investment Manager
Cazenove Capital
Schroder & Co. Limited
1 London Wall Place
London
EC2Y SAU
Auditor
Azets Audil Services
Alhenia House
10-14 Andover Road
Winchester
Hampshire
S023 7BS
Websites
Main School
Small School
Foundation
Centre
Global
nM.brockwood.or
w.inwoods.or
.uk
www.kfouvTrdalion.or
www.krishnamurticenlie.or
hn
murtl.of

KRISHNAMURTI FOUNDATION TRUST LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 JUL Y 2024
The Iruslees present their report and financial statements for the year ended 31 July 2024.
The financial slatemenls have been prepared in accordance with the accounting policies set out in note 1 to the
financial statements and comply ¥Mth the chanly's Memorandum and Articles of Association, the Companies Act 2006,
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 l January 20191"
OUR PURPOSES, ACTIVITES. AIMS AND OBJECTIVES
Our Charity's purposes, as set out in the objects contained in the company's Memorandum of Association, are to
advance the education of the public in philosophy, sociology, psychology, and comparative religion and to promote In
those fields the study of the teachings of Jiddu Krishnamurti.
The Charity operates in four areas..
Brockwood Park School provide5 a general education for students aged 14 years and over.
2. Inwoods Small School also provides a general education, bul for pupils up lo the age of 11 yèars.
3. The Foundation maintains the archives of the works of Jiddu Krishnamurti and disseminates Krishnamurti'$
work via print and digital mediums.
4. The Krishnamurti Centre provides opportunities for the study of philosophy, sociology, comparative religion.
and in particular the study of the teachings of Krishnamurti, for adult members of the public.
Our Obje¢tiv•s
Our objectives are sel up lo reflect the educational aims of our Schools, the preservation and dissemination by the
Foundation of the works of Jiddu Krishnamurti and his many discussions with other philosophers, psychologists, social
scientists, and religious figures and to provide a high quality study centre lo enable visitors lo study these works and
other comparative, religious and psychological works available in the library and discuss and explore them.
In setting our obieclives and planning our activities, the Trustees have considered the Charity Commission's general
guidance on public benefit and to ils supplementary public benefit guidance on advancing education and on fee-
charging.
Our key objectives for the year included..
New digital campaign for the Krishnamurti Centre with the aim of bringing more people lo the Centre and
various programmes it is now running,
Revamping our programmes offered at the Centre in light of the successful launch of new initiatives at the
Cenlre
Continue our digital and social media initiatives related to the dissemination of the teachings of Krishnamurti
for free and Ihe promotion of the activities of the charity.
Continue creating new free podcasts for the dissemination of Krishnamurti's teachings.
Continuing fundraising for the endowment fund.
Continue lo place the video and audio recordings of Krishnamurti online lo enable free access to both.
Automate procedures and processes in the Accounts Office.
Sign new English book titles of the work of Krishnamurti with reputable publishers and also publish translated
versions in other countries and terrrtories.
Conlinue to improve the education of the students with a holislic approach and provide Ihe financial security
lo do so.

KRISHNAMURTI FOUNDATION TRUST LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 JUL Y 2024
Our Public Benefit
We endeavour to encourage all who wish lo attend our schools to do so, irrespective of their financial means (see our
Bursary Policy below). We slrongty believe that our schools and our students benefit from leaming within a diverse
community. Our school fees are sel al the lowest level consistent with ensuring the financial stability of our schools
and at a level consistent with providing the students with a high standard of academic and personal education (our
fees are currently lower than the average fees for independent secondary boarding schools in the UK). Even though
we have a generous bursary fund available, in academic year 2023-2024 the bursary requests equated to 8.6Q/o of
total school fees (4.90/0 in 2023).
A local kindergarten I'wildflowers,) currently uses part of our grounds Iparticulady some of the woodland) free ol
charge for activities with its children.
Our schools have started to hold Open Days again which members of the local community are welcome lo attend.
Many teachers and educators, not connected with the charity, visit the schools and the Centre lo view and discuss
the unique educational approach on offer. From time-to-time, the schools are approached by PhD and research
students in education asking lo come and visit.
The 'ObseNer' which is a school magazine is offered for free to interested individuals.
The Foundation's online activities continue to make Krishnamurti's Iransformalive message freely accèssible lo a
global audience. Our strategic focus on digital outreach. combined with an adaptive and agile approach lo evolving
technologies and trends, ha5 significantly amplified the Impact of our work.
Our Inslagram page has surpassed one million followers. a leslamenl lo the increasing relevance of Krishnamurti's
message in today's world. His teachings resonate with audiences of all ages. and Increasingly so with the younger
generations, providing them with insights into self-underslanding and offering guidance in facing modern crises and
challenges. In a digital environment often overwhelmed by superficial content, Krishnamurti's profound message
stands out, free from dogmatic Impositions.
To meet people where they are. we maintain a strong presence across major platforms, diversifying our digital output.
Our official YouTube channels hosts 4000 videos and is now nearing one million subscriber5, generating more than
22 million views annually, thanks lo daily releases of conlenl. Accessibility remains a lop priority, with over 5,000
sublilles available in moTe than 40 languages. We have created free directories containing links and information for
the videos and audios available on official YouTube channel.
In addition to Inslagram and YouTube. our growing presence on TikTok, X (formerly Twillerl. Facebook, and Threads
has garnered over 500,000 combined followers, further extending our reach. Our podcast, Urgency of Change- The
Krishnamurti Podcast, is now in ils sixth season, fealuring over 250 episodes and surpassing 2.5 million downloads.
Our website has become a comprehensive repository of curated Krishnamurti material. With rnore than 850 pages
featuring quotes, articles, photographs, free downloads, and an index of over 200 topics. the site is designed lo serve
both newcomers and individuals already acquainted with Krishnamurti, and allow them to delve in the material al
whatever depth they wish. We are making the transcripts, videos. audios and quotes of various talks of Krishnamurti
available for free on our intemalional website lJ'krishnamurti.orgl. Over the past year, our websites have received 1 .3
million visits.
With the assistance of Google's free search advertising facilities, the charity has managed to expand its reach and
boost visibility and to drive traffic to its website. Across all networks, we have reached over 100 million individuals in
a year.
The most important proof of the impact of all this Work is the recent popularity of in-person activities dedicated to
young adults, taking place at The Krishnamurti Cenlre, our retreat centre in Hampshire. Hundreds of people from all
over the world come together every year lo attend retreats and look into fundamental questions of life. Most of them
have heard about Krishnamurti and such retreats through our online activities and In particular social media.

KRISHNAMURTI FOUNDATION TRUST LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 JUL Y 2024
Our charges for slaying at the Krishnamurti cent￿ are kepl as low as possible to ensure Ihat all who wish to attend
can do so. All Cenlre rooms during week days have lower rates. If a guest cannot afford the full room-rate, we may
make a disLretionary reduction to the cost, or allow a guesl to slay for free. For most of the year, Ihe Centre is open
to any day visitor, free of charge, who wishes to make use of the facilities (library, video-room, audio and video players)
thereby encouraging people to visil regularly to stltdy and research Krishnamurti's teachings and other religious,
psychological and spirrtual works. We welcome many guests from the Surrounding area for day visits. a150 at no cost
to them. We offer a one-time discount for students and people who may not be able lo afford the costs lo enable them
to visit and stay at the Centre. We have developed programmes at Krishnamurti Cenlre which would enable wider
access to interested people. We have a 24-week volunteer programme allowing individuals to stay at the centre free
of charge. We have expanded our choices of accommodation allowing participants in our newly designed summer
galhering and young adult retreats to stay at Brockwood and visit the centre on a very low-cosl basis. We have
expanded our offering of discrelionary fares for such events. We have allocated three rooms at the Centre for a lower
discretionary rate enabling wider access to public. We have added 7 reduced-rate rooms for anyone who cannot
afford our events to be able lo attend them. On ad hoc basis we also offer other ways for people lo have access lo
the centre at discount such as extra free night for anyone slaying for al least 2 nights (such campaigns are done on
ad hoc basis and gets communicated lo public via our social media channels and digilal newsleltersl.
We have created small booklets meticulou51y designed and contains curated materials of Krishnamurts. and we make
it available for free both in print formal and also digitally.
At the Krishnamurti Centre we have brochures, bulletins, and articles available for free, which give information aboul
Krishnamurti's teachings and the intentions of the Centre and which we send to anyone who contacts us and wishes
to know more.
The Foundation sends oul e-newsletters at least 6 time5 per year containing audio, video and text of the teachings of
Krishnamurti to our subscribers free of charge.
Bursarles and Financlal As818tan¢e
As slated abovè, the Trustees believe that il is important lo make bursaries available lo students from families who
may not be able lo pay all of the school fees. In assessing a family's means we take many factors into consideration,
including family income. inveslmenls, savings, etc. We rely on the generosity of benefactor5 to offer any kind of
bursary. We must ensure that a balance is struck between fee-paying parents and those benefiting from the bursaries.
Bursaries range from a 79/0 to an 80.10 remission of fees. Information about fee assistance through bursaries is
provided lo all who request it. In the current year the school has made available 8.6'/0 of its fee income for bursaries.
The fees for the main School are paid annually and before the start of the lerm. However, we understand that some
families need to budget carefully, therefore. we offer the facility to pay fees in two or three inslalmenls. The lees for
Inwoods Small School are paid lermly. In exceptional cases and upon request, as an additional provision of financial
aid, we agree on a payment-p18n with parent5 who need this assislance to be able lo afford the fees.
OUR STRATEGY
The Truslees are responsible for setting strategies for achieving the objectives delemiined for the areas of operation
of each section of the Charity.
Key oblectlves and strategies
Our key objectives of the charity are listed below with strategies adopted to achieve those also displayed..
New digital campaign for the KTi5hnamurti Cenlre with the aim of bringing more people lo the Centre and
various programmes 11 is now running,
Creating promotional videos for the various events and programmes at the Centre",
Creatsng dislincl webpages for the various events and programmes at the Centre".
Creatrng various social media posts and promoting il on OUT social media channels lo promote the
Centre and its various events and programmes",

KRISHNAMURTI FOUNDATION TRUST LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 JUL Y 2024
Running paid social media campaigns on various platforms to promote the Centre and ils various
programmes.,
Revamping our programmes offered al the Centre in light of the successful launch of new initiatives at the
Centre
Creating and refining Young Adult retreat, Group Retreat, Krishnamurti Summer Gathering and
Volunteer Programme al the Centre and increasing the number of evenls on offer.,
Introducing variety of reduced rate5 for these programmes to make them accessible to the public
Continue our digital and social media initiatives related to the dissemination of the teachings of Krishnamurti
for free and the promotion of the activities of the charity.
Releasing more than l 000 pieces of content on our social media channels currently subscribed to
by more than 2 million people. These posts are carefully curated by an expenenced team and are
being shared for free.
Running paid campaigns to bring the work of Krishnamurti lo the altenlion of more people.,
Creating meticulously designed, booklets containing selected quotes of Krishnamurti for public to
download for free.
Focused campaign to promote bot the schools on different plalfom)s.
Continue creating new podcasts for the dissemination of Krishnamurti's teachings.
Carefully chosen material from the work of Krishnamurti is organised around various topics and
shared free of charge on various podcast platforms.
Continuing fvndraising for the endowment fund.
We had a successful launch of the endowment fund and a successful first year fundraising for this
important inilialive.
Continue to place Ihe video and audio recordings of Krishnamurti online to enable free access lo both.
Videos and audio recordings of Krishnamurti's talks and discussions continue lo be placed on our
YouTube channels for free access of public. Many of these videos and audio recordings have
sublilles in more than 40 languages.
Automate procedures and processes in the Accounts Office.
Appointing an external consultant expert in such matter to streamline our processes;
Implementing new software lo streamlining many accounting processes al the charity
Sign new English book titles of the work of Krishnamurti with reputable publishers and also publish translated
versions In other countries and territories.
This is an ongoing activity of the charity.
Continue to improve the education of the students with a holistic approach and provide the financial security
to do so,.
This is an ongoing activity of the charity.
Achievement and performance
The charity continues to improve ils financial health despite facing a challenging economic and regulatory
environment.
The digital aclivilies of the Foundation across all of ils platforms have brought the teachings of Krishnamurti lo the
attention of millions of people free of charge. New social media campaigns have reached millions of people and
increased our social media engagement greatly. with our Inslagram page having reached over 1 million followers. On
our official YouTube channels - ad-free and nearing 1 million subscribers - Krishnamurti talks are now viewed more
than 22 million limes annually. Thanks to carefully crafted social media activitie5, the use of a Google Ad Grant, and
the recent redesign of our online platform lkfoundalion.or
which now serves as an extensive repository of free
curated content. the Foundation websites receives 1.3 million visits in a year. Our popular podcasl'urgency of Change
The Krishnamurti Podcast, is now in its fifth season and has been downloaded over 2.5 million times.
The Foundation continues lo work closely with Iwo prominent publishers in the UK, Walkins and Rider. Our latest
book, How to Find Peace was published by Watkins.
We have added to our new programmes at the Centre such as the 24-week volunteering programme, Young Adult
retreat, Group retreat and Summer GalheTing. All have been a big success and very well attended, bringing more
people from diverse backgrounds to Ihe Cenlre. Most people hear about our centre programmes as a result of our
social media initiatives.

KRISHNAMURTI FOUNDATION TRUST LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 JUL Y 2024
Pupil Numbers. Vlsltors and Fees
Brockwood Park School had 68 students for the academic year 2023-24. Inwoods Small School, for day students
only, had 20 sludenls.
The Iwo-tier fee structure, that was pul in place for the small school and the main school, was maintained for academic
year 2023-24. The small school lower tier was £8,250 and the higher tier was £9,300. The main school lower tier fee
was £27.700 and the higher tierwas £36,800.
The number of nights for which payment was received in the Centre continued to increase compared to last year.
Co<urricular Activities
In addition to a full programme of academic courses. ASIA-level and non-exam courses, the main school continues
to offer a wide range of co-curricular aclivilies. These range from pottery and woodwork, through 9ardening and
bushcraft, to a range of music-related tuition and a good selection of sports. There is a lol of interest in the performing
arts and hvo major concerts (or a concert and a playl are prepared each year. The school also organises a selection
of tTiPS for students during temi-lime to museums, galleries, Ihealres. and nature reserves. The main school continued
lo offer a workshop week with various workshops which students would nol othewise have access lo.
At Inwoods children complete academic subjects such as English and maths but they also do activities and proiecls
that have a more creative or practical focus. These projects rAn include working with clay, wood, bushcraft. sewing
and art. Outside of these projects they also spend time gardening, singing and doing drama. The school has many
workshops by external speakers from organisations such as WalerAid and local businesses. The school also
organises lermly trips and after school clubs for two days each week.
Detalls of Bursary Award•- Pollcy Into Practlce
Bursaries and sponsorships awarded were 8.60/9 of our lolal expected fee income and amounted lo £163,088 This
aided 15 of our students at the main school. and 7 pupils at the Small school.
The Trustees review the provision of bursaries annually and delegate the responsibility of offering bursaries lo the
School Management Committee. The scheme widens acce5s1o the schools lo people from all backgrounds and walks
of life and allows suitable students, who would otherwise be unable lo allend, to be part of the school community.
Envlronmental Incentlves- Cuttlng our"Carbon Footprlnt"
Concern for the environment is al the heart of living together al Brockwood. Both schools are vegetarian and grow
proportion of their own food organically in their kilchen gardens. A central part of the high school curriculum is
Human Ecology, addressing environmental issues both practically and academically and Nature Study is a central
part of the Inwood'5 curriculum.
Day-to-day activities such as reusing and recycling items have been standard praclice for many years. Our
buildings are now being upgraded with better insulation and more environmentally friendly heating systems. As part
of our planned increase in the use of energy from renewable sources, we have invested in a wood-chip boiler to
heal the Centre building. The recently conslrucled student and staff accommodation, the Pavilions, is heated by
ground-source heal-pumps and we have recently also installed air source heal pumps. We also have a solar array
on the roof of one of our sludenl and staff accommodation5. the Cloisleis. Low energy lighting is used throughoul
our buildings. Low toxicity cleaning malerials are used in the Centre, Inwoods and the main school.
Along with lowering our carbon footprint we also recognise the importance of maintaining and increasing carbon
sequestration in our ground5 and gardens both in the soil and in the vegetation cover. We do this by using no dig
methods in the growing areas, by making otAr own compost to use in our organic gardens and by maintaining and
enhancing tree cover on our 39 acres.
The overall strategy towards net zero has moved on with an impact report produced by Planet Mark last
year. According lo the report figures we average 3 to 4 tonnes C02 per person per year on the basis of around a
hundred members in the community. The average British C02 footprint is 5.2 tonnes per person per year. We are
continuing with our overall strategy towards nel zero and can better track our progress using reports such as this.

KRISHNAMURTI FOUNDATION TRUST LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 JUL Y 2024
Fundraising
The charity does not use professional fundraisers. Our approach lo fundraising is light-louch and relies a lot on
communicating clearty and directly with our donors about activities in Ihe charity and areas of needs within the charity.
We have a dose relationship with our donors and organise events, activities. and communication strategies lo keep
them very well informed of what goes on al Brockwood. In our donor cultivation cycle we place little emphasis on
requesting and a lol of emphasis on clear communication.
Future Plans
The charity plans to conlinue lo clarify and review its long-term objectives and vision and align the internal operations
with these obieclives, devising stTalegies lo achieve these objectives and vision.
In light of the above, the charity intends lo initiate the following..
Creating digital campaign for the Krishnamurti Centre with the aim of bnnging more people lo the Centre and
various programmes il is now running.
Continue our digital and social media inilialives related to the dissemination of the teachings ol Krishnamurti
for free and the promotion of the activities of the charity.
Continue creating new podcasts for the dissemination of Krishnamurti's teachings.
Continue lo place the video and audio recordings of Krishnamurti online lo enable free access lo bolh.
Continue lo publish the work of Krishnamurti with reputable publishers and also publish translated versions
in other countries and lernlones.
Creating new promotional video for the school in order lo assist with our social media promotions and
campaigns.
Continue lo improve the education of the students with a holistic approach and provide the financial security
lo do so.
FINANCIAL REVIEW
Our Flnances
School fee income increased by £100,44110 £1 ,890,041 in the year, driven by school fee increases.
One of our risk management policies is lo create a budget each year for the coming year. Quarterly reports are created
comparing the actual income and expenditure with the budgets and forecasting the result for the year based upon the
actual items. The Trustees consider these and act if necessary.
Total income of Ihe charity increased from £3,429,368 to £4,634,068. This was due to an increase in donations and
legacies, as well as an increase in charitable activities income and investment income. The amount of donations being
received in the year was £1.947.056 12023 - £762,740). Legacies amounted lo £109.833 12023 £354.5581. After
deducting expenses, the Nel Incoming Resources for the charity amounled to £1 ,985,617 {2023 £918,046).
The Charity continued lo benefit from royalties received from the publication of ils books around the world, and from
the surplus on the sale of books. The Charity appealed for funds for various purposes, some specific and others
general.
The Trustees review Ihe salaries of the staff regularly. Because of the ethos of the school and the way it operates, the
major cosl of staff salaries is considerably lower than in other schools. Thus, we can keep our fees lower while offering
a higher staff to slijdent ratio than would othefwise be the case. The staff and students are all part of a community
living. working. and sharing togelher.
As a charity we enjoy lax exemption slalus which means that we pay no lax on our deposit Interest which is applied
lo the charity's purposes, and we can reclaim tax suffered on gift aid donations made to us. We also benefit from an
800/0 reduction in the rates on the buildings we occupy for charitable purposes. However, we are unable to reclaim
VAT on purchases and expenses Ltsed for educational purposes and we pay taxes a5 an employer through the national
insurance contributions we make.

KRISHNAMURTI FOUNDATION TRUST LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 JUL Y 2024
Reser4es Policy and Financial Health
The Charity has a Reserve Policy and an Investment Policy which are reviewed on an annual basis by the Trustees
lo ensure continuing appropnateness. The Trustees have considered the relevant factors and fisk facin9 the Charity
when arriving at the Reserve Policy. The Charity's assets are sufficienl lo meet its obligations and are all held for use
by the four departments in the Charity. The endowment fund, which was set up in the previous year, is one of the
main parts of the Reserve Policy and approach for the Charity. The funds currently in unrestricted funds will be held
considering the other financial objectives of the Charity. Al least 1 OD/D of the charity's unreslricled reserves are kept
in checking andlor short notice deposit which can be withdrawn with notice of not more than 30 days. This is sufficient
to cover 3 months of Charity's expenses.
As of 31 July 2024. the total funds of the Charity were £11 ,012,879 (2023.. £9,027,262). Of these, £1,800,76712023.'
£2,077,080) are reslricled funds, £1,089,688 {2023. £536,027) are endowed funds, and £8,122,424 12023..
£6,414,155) are unreslricled funds. Of the unrestricted funds, £4,053,693 12023. £3,07S,5761 is represented by
tangible fixed assets, and £1,341,460 represented by net current liabilities 12023.. £342,095 net current liabilities.)
There are long-term liabilities and provisions of £76,519 12023.. £87,545). The permanent endowment fund tolals
£1.089,67812023. £536,017).
Investmenl poll¢y
The Charity has an Inveslmenl Policy which is reviewed on an annual basis by the Trustees to ensure continuing
appropriateness. The financial objective of the ChaTily is lo at least maintain the real value of the assets whilst
generating a stable and sustainable return. The investment obiectsve Is lo generate a return of inflation plus 30/0 per
annum over the long term, after expenses. This should allow the Charity lo al least maintain the real value of the
assets. whilst funding annual expenditure in the region of 3U/o per annum. The charity ensures that il has access lo
liquid investment assets in a short period of time to cover ongoing expenses should the ongoing income not meet the
expenses or the unforeseen events impacl the operation of charity. This amount would al least cover Ihfee months of
the operating cost of the Charity.
The Charity's assets are invested widety and diversified by assel class. The Charity assels are invested in line with
its aims. The trustees do not wish to adopt an exclusionary policy, bul individual investments may be excluded if
perceived to conflict with the Foundation's Pufpose. The Charily CUTrenlly uses a sustainable mulli asset fund for ils
long-lerm investments which aims to have a positive impact on people and the planet by avoiding harm through social,
environmental or ethical considerations.
The Charity has appointed an investment management firm lo manage the assets on a discretionary basis in line with
the ChaTily's Investment Policy. At 31 July 2024, total investments were worth £6,582.144 12023 £5,175,937), of
which £1,095.334 12023. £524,204) comprises a permanent endowment. The Charity follows the standard rules and
any increase In the value of an investment is kept as permanent endowment and invested. £479,038 of the Charity's
investmenls12023 £1,204,479) are held in cash or short-lerm dep0511s.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
Krishnamurti Foundation Trust Limited is a company limited by guaranlee governed by its Memorandum and Articles
of Associalion which were last altered in March 2013.
It is registered as a charity with the Charity Commission.
Each member agrees to conlTibule £1 in the event of the charity winding up.
Governing Body
The directors of the company are also charity tTUStees for the purposes of charity law and under the company's Articles
are known as the Governors. Under the requiremenls of the Memorandum and Articles of Association one third of
them must retire al each Annual General Meeting. The governing body consists of the persons menlioned on page 1.

KRISHNAMURTI FOUNDATION TRUST LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 JUL Y 2024
In accordance with the Articles of Association. Mr Derek Hook and Mrs Wendy Smith retire by rotstion and being
eligible. offer them for re*lects'on.
The Governors meet as a body on at least three occasions in each year, the duration of each meeting being about
four days. In addition, there are various committees and working groups which meet more regularly throughout the
year.
All Governors give their lime volunlarity as Twstees.
Recrultment and Training of Govemornrrrustees
In common with charities of a similar size, it is difficult to relain a full complement of govemors covering the necessary
range of skills and experience and with a keen interest in Krishnamurti's Teachings. The existing Governors seek new
Governor5 through contacts with international committees and personal contacts. New Governors are mentored by
more experienced Governors in the workings of the Charity and its procedures.
The two Safeguarding Liaison tru5tee5 regularly attend training on school regulatory and compliance matters and
keep the other trustees informed and up lo date with the18tesl updates to regulations. All the Trustees receive annual
refresher safeguarding training including e-safety.
Organlsatlonal Management
The Governors (Trusleesl are legally responsible lor the overall management and control of the four areas of the
Charity. These are the main school (referred lo as Brockwood Park School), the small school (referred lo as Inwoods
Small School), the Foundation (referrèd lo as Krishnamurti Foundation Trust) and the adult Study Centre (referred lo
as The Knshnamurti Cenlrel.
The Members of the Management Committees have day-lo-day responsibility for the running of their respective areas
and for implementing the policies set by the Governors. The School Management Committee has a day-to-day
oversight and responsibility for running the Schools. For Inwoods, the cO￿rdinal0r who is also part of the School
Management team has the day-lo-day responsibility for running the Small School The Head of the Foundation and
Centre has a day-toknday oversight and responsibility for running the Centre and Foundation.
Rlsk Management
The Governors are responsible for the identification and management of Tisks. The major risks lo which the Trust is
exposed. are identified by the Governors with the assistance and consultation of the Management Committees. These
nsks have been reviewed and Systems and procedures established lo manage those nsks. Examination of the risks
and eslablishmenl of controls lo miligale them is delegated to the Management Committees and the process IS
overseen by the Bursar on behalf of the goveming body. The Risk Register is reviewed by the Trustees in each Trustee
meeting. A review ofthe risk management processes is undertaken annually at the November Trustee meeting. They
monitor the risk and take appropriate mitigating action when required.
The key controls used by the charity include..
formal agendas for all Governor Meetings.
formal minutes taken al all meetings.
comprehensive strategic planning. budgeting, and managemenl accounting.
formal written policies.
clear authorisation and approval levels.
clear job descriplions of all staff.
vetting procedure5 as required by law for the protection of the vulnerable.
crisis management procedures.
legal and specialist advice.
Included within these controls are considerations of price, credit, liquidity, and cash-flow risks.
Through the risk management processes established for the charity the Governors are satisfied thal the major risks
identified have been adequately mitigated where necessary. It is recognised that systems can only provide
reasonable, but not absolute, assurance that major risks have been adequately managed.

KRISHNAMURTI FOUNDATION TRUST LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 JUL Y 2024
Dlsclosure of Informatlon to the audltor¥
In so far as the Trustees are aware at the tlme of agreeing our Trustees. Annual Report..
there is no relevant audil information of which the chantable company's auditor is unaware; and
the Trustees, having made enquines of fellow Trustees and the Auditor, confirni th81 they have each taken
all sleps thal they ought lo have individually taken, lo make themselves aware of any relevant audit
information and to establish that the Auditor is aware of that information.
Audltor
Azets Audil Seplices were appointed as auditor lo the charitable company and a resolulion proposing that they be re
appolnted will be put lo a General Meeting.
The tru81ee8' report, including the directors, report and Strategic report, was approved by the Board of Trustees.
Mr8 W Smit
Date:
i31 ,,12
10-

KRISHNAMURTI FOUNDATION TRUST LIMITED
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 JUL Y 2024
The trustees (who are also directors of Krishnamurti Foundation Trust Limiled for the purposes of company lawl are
responsible for preparing the Trustees. Annual Report (including the Direclors, and Stralegic Report) and the financial
statements in accordance with applicable law and United Kingdom Accounting Slandards {United Kingdom Generally
Accepted Accounting Practicel-
Company law requires the trustees to prepare financial statements for each financial year. Under company law the
trustees must not approve the financial statements unless Ihey are satisfied that they give a true and fair view of the
slate of affairs of the charitable company and of the incoming resources and application of resources, including the
income and expenditure, of the charilable company for Ihat penod. In prepanng these financial statements, the
trustees are required to..
select sultable accounting policies and then apply them consistently.,
observe the methods and principles in the Charities SORP 2019 IFRS 1021.,
make judgements and estimates that are reasonable and prudent.,
slate whether applicable UK Accounting Standards have been followed,.
prepare the financial slalemenls on the going concern basis unless it is inappropriate lo presume that the
charitable company will continue in operation.
The Iruslees are responsible for keeping adequate accounting records that disdose with reasonable accuracy al any
lime the financial position of the charitable company and enable them lo ensure that the financial statements comply
with the Companies Act 2006. They are also responsible for safeguarding the assets of the chantable company and
hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware..
there is no relevant audit information of which the charitable company's auditor is unaware., and
the Iruslees have taken all steps that they ought to have taken lo make themselves aware of any relevant
audit information and to establish that the auditor is awar8 of that information.
The Iruslees are responsible for the maintenance and integrity of the corporate and financial information included on
the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of
financial stalemenls may differ from legislation in other jurisdictions,

KRISHNAMURTI FOUNDATION TRUST LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF KRISHNAMURTI FOUNDATION TRUST LIMITED
Oplnion
We have audited the financial statements of Krishnamurti Foundation Trust Limited Ilhe 'charitable company,) for the
year ended 31 July 2024 which comprise the slatemenl of financial aclivities, the summary of income and expenditure
account, the balar¢ce sheet, the statement of cash flows and the notes to the financial slatements. including significant
accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and
United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in Ihe UK
and Republic of Ireland {United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements..
give a true and fair view of the stale of the charitable company's affairs as at 31 July 2024 and of its incoming
resource5 and application of resources, for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basls for opinSon
We conducted our audit in accordance with International Standards on Auditing {UKI IISAS IUK)) and applicable law.
Our responsibilities under those standards are further described in the Audito¢s responsibilities for Ihe audit of the
rinancial statements section of our report. We are independent of the charitable company in accordance wilh the
ethical requirements that are relevant lo 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.
Concluslons relatlng to golng concern
In auditing the financial stalemenls, we have concluded that the Iruslees, use of thè going concern basis of accounting
in the preparation of the financial statements is appropriate.
Based on the work we have perfomied, we have not identified any material uncertainties Telaling to events or
conditions that, individually or collectively, may cast significant doubl on the charitable company's ability to continue
as a going concem for a period of at least Imelve months from when the financial statements are authorised lor issue.
Our responsibilities and the responsibilities of the Iruslees with respect lo going concem are described in the relevant
sections of this report.
Other Information
The other information comprises the informalion included in the annual report, other than the financial statements and
our auditor's report Ihereon. The trustees are responsible for the other information conlained wilhin the annual report.
Our opinion on the financial statement5 does not cover the other information and, except to the extent olhernise
explicitly slated, we do not express any fomi of assurance conclusion thereon. Our responsibility is lo read the other
inlormalion and, in doing so, consider whether the olher 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 miss131emenls, we are required lo determine whelher
this gives rise to a material misstatement In the financial slalements themselves. If. based on the work we have
performed, we conclude that there is a material misslatemenl of this other information, we are required lo report that
fact.
We have nothing to report in this regard.
Oplnions on other matters prescribed by the Companles Act 2006
In our opinion, based on the work undertaken in Ihe course of the audit..
the infomialion given in the trustees, report, which includes the strategic report and directors, report prepared
for the purposes of company law, for the financial year for which the financial statements are prepared is
consistent with the financial statements., and
the strategic report and the directors, report included within the trustees, report have been prepared in
accordance with the applicable legal requiremenls
12-

KRISHNAMURTI FOUNDATION TRUST LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF KRISHNAMURTI FOUNDATION TRUST LIMITED
Matters on which we are requlrèd to report by exception
In the light of the knowledge and underslanding of Ihe charitable company and its environment oblained in the course
of the audit, we have not identified rnaterial misstatements in the strategic report and the directors, report included
within the trustees, report.
We have nothing io report in respect of the following mallers in relation lo which the Companies Act 2006 requires us
lo report lo you if, In our opinion..
adequate accounting records have not been kept, or relums adequate for our audit have not been received
from branches not visited by us,. or
the financial slalements are not in agreement with the accounting records and relums., or
certain disclosures of trustees, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully In the statement of trustees. responsibilities, the trustees (who are also the directors of the
charitable company for the purpose of company lawl are responsible for the preparalion of the financial slalemenls
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 misslalemenl, whether due lo
fraud or error. In preparing the financial slalements, the trustees are responsible for assessing the charitable
company'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 Iruslees either intend to liquidate the charitable company or
to cease operations, or have no realistic alternative but lo do so.
Audltor's respon81bllltles for the audlt of the flnan¢ial ststements
Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from
material misslalement, whether due lo fraud or error, and lo issue an auditor's report that includes our opinion.
Reasonable assurance Is a high level of assurance bul is not a guarantee that an audit conducted in accordance with
ISAS IUKI will always delect a material misstalernenl when il exists. Misslalements can arise from fraud or error and
are considered material if. individually or in the aggregate. they could reasonably be expected lo influence the
economic decisions of users taken on the basis of these financial slalemenls.
Extent to which the audlt was consldered capable of detectlng Irregularities, In¢ludlng fraud
Irregularilies. Including fraud, are instances of non-compliance with laws and regulations. We design procedures in
line with our responsibilities. outlined above, lo delect material misslalements in respect of irregularities. including
fraud.
In response lo the nsk of irregularities and non-compliance with laws and regulations, including fraud, we designed
procedures which Included..
Enquiry of management and those charged with governance around actual and potential litigation and claims as
well as actual, suspected and alleged fraud..
Reviewing minutes of meetings of those charged with governance".
Assessing the exlenl of compliance with the laws and regulations considered to have a direct material effect on
the financial slalements or the operations of the entity through enquiry and inspection".
Reviewing financial statement disdosures and lesling to supporting documentation to assess compliance with
applicable laws and regulations.,
Performing audit work over the risk of management bias and override of controls, including testing of journal
entries and other adiustmenls for appropriateness, evaluating the business rationale of significant Iransaclions
outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
Because of the inherent limitations of an audit. there is a risk that we will not detect all irregularities, including those
leading lo a material misslalemenl in the financial statements or non-compliance wilh regulation. This risk increases
the more that compliance with a law or regulation is removed from the events and transadions reflected in the financial
slalements, as we will be less likely to become aware of Instances of non-compliance. The risk is also greater
regarding Irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery,
collusion, omission or misrepresentation.
13-

KRISHNAMURTI FOUNDATION TRUST LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF KRISHNAMURTI FOUNDATION TRUST LIMITED
A further description of our responsibilities is available on the Financial Reporting Council's website at
htt s.Ilwww.frc.or .uklOur-WorklAudiVAudit-and-assurancelSlandard5-and- uidancelSlandards-and- uidance-for-
orslAuditors-res
onsibilitie
r-auditlDescri
tion-of-au
onsibilities-for-audil.a
This description forms part of our auditor's report.
Use of our report
This report is made solely to the charitsble company's members, as a body, in accordance with Chapter 3 of Part 16
of the Companies Act 2006. Our audit WOTk has been undertaken so that we might stale lo the charitable company's
members those matters we are required to slate lo them in an auditors. report and for no other purpose. To the fullest
extent permitted by law. we do not accept or assume responsibility lo anyone other than the charitable company and
the charitable company's members as a body, for our audit work, for Ihis report, or for the opinions we have formed.
Ala KLL
icLr
Jon Noble (Senlor Statutory AudStor)
for and on behalf of Azets Audlt Servlcos
19 hJ,,a- 2oL(f
Chartered Accountants
ststutory Audltor
Athenia House
10-14 Andover Road
Winchester
Hampshire
United Kingdom
S023 7BS
14-

KRISHNAMURTI FOUNDATION TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 JUL Y 2024
Current financial year
Unrestricted
funds
2024
Restricted Endowed
funds
funds
2024
2024
Total
Totsl
2024
2023
Notes
Income
Donations and legacies
Investment income
Charitable activities
1.409,358
219,555
2,357,624
157,336
490,195
2,056,889 1,117,298
219,555
83,184
2,357,624 2,228,886
Total Income
3,986,537
157,336
490,195
4,634.068 3,429,368
en
itur
isin
Investment management fees
13,348
13,348
3.567
hantable activities
Publicity
Royalties payable (including KFAI
Irrecoverable school fees and bad
debts
Direct cosls
Food and household costs
Archive costs
Premises costs
Support cosls
DepTecialion
Governance costs
88.417
16,335
88,417
16,335
40,966
22,243
6,874
995,725
266,107
4.728
569,261
447,733
233,353
156,275
6,874
3,842
997,527 1,026,029
267,801
192.125
5,008
3.972
572,910
515,751
454,357
428,064
298,246
240,072
156,275
54,206
1.802
1.694
280
3.649
6,624
64.893
Total charltable expendlture
2.784.808
78.942
2,863,750 2,527,270
Total resources expended
2,798,156
78,942
2,877,098 2,530.837
Net gains on investments
12
169,986
58,661
228.647
19,515
Net incoming resources before
transfers
1,358,367
78.394
548,856
1,985,617
918,046
Gross transfers between funds
20121
349,902
1354,7071
4,805
Net movement in funds
1,708,269
1276,313)
553,661
1,985,617
918,046
Fund balances at 1 Augusl
6,414,155
2,077,080
536.027
9,027,262 8,109,216
Fund balances at 31 July
8,122,424
1,800,767 1,089,688
11,012,879 9.027.262
All income and expenditure derive from continuing activities.

KRISHNAMURTI FOUNDATION TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
Prlor financial year
Unrestrlcted
funds
2023
Restricted Endowed
funds
funds
2023
2023
Totsl
Total
2023
2022
Notes
Inc
Donations and legacies
Investment income
Charilable activities
586,683
81,852
2,228,886
183,562
347,053
1,332
1,117,298
613,284
83,184
3,713
2,228.886 2,088,604
Total Income
2,897.421
183,562
348,385
3.429,368 2,705,601
Ex
ndlture on:
isin
funds
Investment managemenl fees
3,567
3,567
harilable activili
Publicity
Royalties payable (including KFAI
Irrecoverable school fees and bad
Direct costs
Food and household costs
Archive costs
Premises costs
Support costs
Depreciation
Governance costs
40,966
22,243
3,842
930,285
192.125
3,828
501.925
421,272
175,178
54,206
40,966
22,243
3.842
1.026,029
192,125
3,972
515,751
428,064
240,072
54,206
60,939
32,198
95,744
915.106
178.635
4,591
391,759
426,234
222,976
79,672
144
13,826
6,792
64.894
Total charltable expenditure
2,345,870
181,400
2,527,270 2,312,110
Tolal resources expended
2,349,437
181.400
2,530,837 2,312,110
Nel gains on investments
12
13.504
6,011
19,515
Net Sncoming resources before
transfers
561,488
2,162
354,396
918,046
393,491
Gross transfers between funds
20121
112,032)
{169,5991
181,631
Net movement In funds
549,456
{167,437)
536.027
918,046
393,491
Fund balances at 1 August
5,864,6g9
2,244,517
8.109,216 7,715,725
Fund balances at 31 July
6,414,155
2,077,080
536.027
9,027,262 8,109.216
All income and expenditure derive from continuing activities.
16-

KRISHNAMURTI FOUNDATION TRUST LIMITED
SUMMARY INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JUL Y2024
All Incom• funds
2024
2023
Gross income
Gainsl(Ios5es) on investments
4.143,873
169.986
3,080,983
13,504
Total income In the reporting period
Total expenditure from income funds
4,313,859
3,094,487
{2,877,0981 (2,530,837)
Net income for the year
1,436.761
563.650
17-

KRISHNAMURTI FOUNDATION TRUST LIMITED
BALANCE SHEET
FOR THE YEAR ENDED 31 JUL Y 2024
2024
2023
Notes
Fixed assets
Tangible assets
Investments
10
11112
5,201,985
6,582,144
4,223,868
5,175,937
11.784,129
9,399,805
Current assets
Stocks
Debtors
Cash al bank and in hand
13
14
31,986
201,365
265,236
33,772
342,871
582,589
498,587
959.232
Credltor8.' amounts falling due wlthln
one year
15
{1,193,318)
{1,244,230)
Net current Ilabllltles
1694,7311
1284,9981
Total assets less current IlabSlltle8
11.089.398
9,114,807
Provlsions for Ilabllltles
17
176,5191
187,5451
Net assets
11,012,879
9,027,262
Endowed Funds
20
Permanent Endowment
Expendable Endowment
1,089,678
10
536,017
10
1.089.688
538,027
Income funds
Restricted funds
Unrestricted funds..
General unreslricled funds
Designated unreslricled funds
20
21
1,800,767
2,077,080
4,195.090
3,927,334
3.740,104
2.674,051
8,122,424
6,414,155
11,012,879
9.027,262
The financial statements were approved by the Trustees on
&dll
Mr. G. Primrose
Trustee
Company Registration No. 1055588
Mr5. W.
Trustee
th
18

KRISHNAMURTI FOUNDATION TRUST LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JUL Y 2024
2024
2023
Notes
Cash flows from operatlng actlvltl•s
Cash generated from operations
Interest paid
26
837,387
{7,626)
1,109,180
(7,805)
Net cash gener•t•d from operatlng *¢tlvltl••
829,761
1,101,375
Inve8tlng aetlvltl
Transfer from current asset investments lo cash at bank
Purchase of langible fixed as5els
Proceeds from sale of tangible fixed a$$el$
Transfer from cagh al bank to non-current investments
Interest income
518,596
(148,263)
2,286
(5,100,000)
23,295
(176.363)
602
(975,000}
3,647
N•t ca•h u•ed In Inveatlnq actlvltl••
(1,147,114)
14.702,087)
Flnanclng actlvltl••
Repayrnenl of loan
(541,8861
Not ca•h u•ed In flnanclng actlvltlo•
(541,868)
N•t Increase l {decrea•ol In ca•h and ca•h
•qulval•nt•
1317,3531
{4,142,3781
Cash and cash equlvalents at beginning of year
S82,589
4,724,967
Cash and cash equlval•nts at •nd ol y•ar
265,238
582.589

KRISHNAMURTI FOUNDATION TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JUL Y 2024
Accounting policies
Charity inforniation
Krishnamurti Foundation Trust Limited is a private charitable company limited by guarantee incorporated in
England and Wales. The registered office is Brockwood Park. Bramdean, Alresford, Hampshire, S024 OLQ.
1.1 Accounting ¢onvention
The financial statements have been prepared in accordance with the Companies Act 2006, and "Accounting
and Reporting by Charities.. Slatemenl of Recommended Practice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS 102)° (effective 1 January 20191. The charitable company is a Public Benefil Entity as defined by FRS
102.
The financial statements are prepared in sterling, which is the functional currency of the charitable company.
Monetary amounts in these financial statements are rounded to the nearest £.
The financial ststements have been Prepared under the historical cost convention, modified lo include the
revaluation of certain properties and lisled investments at fair valve. The Principal accounting policies adopted
are set out below.
Preparatlon of consolldated flnanclal gtatements
In the opinion of the trustees, the results of the sub51diary company are not material lo the group. The charitable
company has therefore taken advantage of the exemption provided by Companies Act 2006, Financial
Reporting Standard 102 and the Charities SORP IFRS 1021, not lo prepare group accounts.
1.2 Golng concern
Al the time of approving the financial slalements, the Iruslees have a reasonable expectation that the charitable
company has adequate resources lo continue in operational existence for the foreseeable future. Thus, the
trustees continue to adopt the going concern basis of accounting in preparing Ihe financial statements.
1.3 Charltable funds
UnTeslricled funds are available for use 8t the discretion of the trustees in furtherance of their chantable
objectives.
Designated funds comprise funds which have been sel aside at the discretion of the Iru5tees for specific
purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.
Restricted lunds are subject to specific conditions by donors as lo how they may be used. The purposes and
uses of the restricted funds are sel out in the notes lo the financial slatemenls.
Endowment funds are subject to specific conditions by donors that the capilal must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it, Ihe amounts can be measured reliably, and it is
probable that income will be received.
Income from general donations is recognised on receipt or once the charity has been nolified of the donation.
Legacies are recognised on receipl or otherwise if the charity has been notified of an impending distribution.
the amount is known. and receipt 15 expected. If the amount is not known, the legacy is treated as a contingent
asset.
Income from school fees is recognised in the period to ￿lch Ihey relate. School fees received before the year
end relating to futufe periods are Included as deferred income al the year end.
-20-

KRISHNAMURTI FOUNDATION TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JUL Y 2024
Accounting policies
1.5 Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate
all costs related lo the category. Expenditure is recognised where there is a legal or constructive obligation lo
make payments lo Ihird parties, it is probable that the settlement will be required, and the amount of the
obligalion can be measured reliably. Any irrecoverable element of VAT is included with the item of expense lo
which it relates. All direct and indirect costs are attributed lo the areas to which they belong. All other costs are
apportioned on a reasonable apportionment basis. Support costs and governance costs (note 61, which are
charitable, relate lo the stewardship of the charity's assets, organisalional administration, and compliance with
conslilutional and stalulory requirements.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, nel of depreciation and
any impairment IDs5es.
Depreciation is recognised to wnte off the cost or valuation of assets less their residual values over Iheir useful
lives on the following bases..
FTeehold buildings
Freehold land
Motor Vehicles
Fixtures and fittings
Equipment
20/0 slraighl line basis
Not depreciated
25°/o straight line basis
15010 Straight line basis
25% - 33.330/0 Straight line basis
The gain or loss ansing on the disposal of an asset is determined as the difference between the sale proceeds
and the carrying value of the asset and is recognised in nel incomellexpenditurel for the year.
1.7 Flxed asset Investments
Fixed asset inveslrnents are initially measured al transaction price excluding transaction costs, and are
subsequently measured al fair value at each reporting date. Changes in fair value are recognised in nel
incomellexpenditurel for the year. Transaction costs are expensed as incurred.
1.8 Impairnient of flxed assets
Al each reporting end dale, 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 to determine the extent of the Impairment loss lif any).
1.9 Stocks
stocks are slated al the lower of cost and estimated Selling price less cost5 to complete and sell.
1.10 Cash and cash equlvalents
Cash and cash equivalents include cash in hand, and highly liquid bank accounts.
21

KRISHNAMURTI FOUNDATION TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JUL Y 2024
Accountlng policies
1.11 Financlal Instruments
The charity has elected to appty the provisions of Section 11 '8asic Financial Inslruments, and Section 12
'Other Financial Instnjments Issues, of FRS 102 to all ils financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to Ihe
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the nel amounts presented in the financial statements, when
there is a legally enforceable right to sel off the recognised amounts and there is an intention lo settle on a net
basis or lo realise the asset and sellle the liability simultaneously.
Basic financlal assets
Basic financial assets, which include debtors and cash and bank balances. are initially measured al transaction
price including transaclion costs and are subsequently carried al amortised cost using the effective interest
method unless the arrangement constilules a financing Iransaclion, where the transaction is measured al the
present value of the future receipts discounted at a maTkel rale of interest. Financial assets classified as
receivable within one year are not amortised.
8asi¢ Ilnancial liabilities
Basic financial liabilities including creditors are initially recognised al Iransaclion price unless the arrangement
conslilutes a financing transaction, where the debt instrument is measured at the present value of the future
payments discounted at a market Tale of interest. Financial liabilities classified as payable within one year are
not amortised.
Debt instruments are subsequenlly carried al amortised cost, using the effective interest rate method.
Trade creditors are obligations lo pay for goods or seNices Ihal have been acquired in the ordinary course of
operation5 from suppliers. Amounts payable are classified as current liabilities if payment is due within one year
or less. If not, they are presenled as non-currenl liabilities.
Derecognitlon of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
ncelled.
1.12 Taxatlon
The charity is exempt from corporation lax on its charitable aclivitses.
1.13 Irrecoverable VAT
The charilable company is partially exempt for VAT on ils expenses. All of this VAT is accumulated and charged
to support costs.
1.14 Employee beneflts
The cost of any unused holiday entitlement is Tecognised in the period in which the employee's services are
received.
Temiinalion benefits are recognised immediately as an expense when the charity is demonstrably committed
lo terminate the employmenl of an employee or to provide temiination benefits.
1.15 Retirement benellts
Payments lo defined contribution retirement benefit schemes are charged a5 an expense as they fall due. The
assets of the scheme are held separately from the charity.
22-

KRISHNAMURTI FOUNDATION TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JUL Y 2024
Accounting policies
1.16 Foreign ex¢hange
Transactions in currencies other than pounds sterling are recorded al the rates of exchange prevailing at the
dales of the transactions. Al each reporting end dale, monetary assets and liabilities that are denominated in
foreign currencies are relranslaled al the rales prevailing on the reporting end date. Gains and losses arising
on translation are included in net incomel{expenditure) for the period.
1.17 Provisions
Provisions are recognised when the company has a legal or constructive present obligalion as a result of a past
event, it is probable Ihat the company will be required to settle that obligation and a reliable estimate can be
made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle Ihe present
obligation al the reporting end dale, taking into account the nsks and uncertainties surrounding the obligation.
Where the effect of the lime value of money is material, the amount expected lo be required lo sellle the
obligation is recognised al present value. When a provision is measured al present value. the unwinding of the
discount is recognised as a finance cost in the statement of financial activities in the period in which il arises.
1.18 Fund accountlng
Where funds are received for a specific purpose sel out by the donor. or implied by the terms of appeal, these
are shown a restricted income in the Statement of Financial Activities. Funds donated lo be held as capital are
shown as Endowmenl Funds. Expenditure for the purpose specified is applied against the income and any
amount unexpended al the balance sheet dale is shown within Restricted Funds.
General fund are unrestricted funds which are available for use at the discretion of the Trustees in furtherance
of the general objectives of the charity, and which have not been designated for other purposes.
The Trustees, at their discretion, may sel aside funds lo cover specific future costs. Such funds are shown as
designated fLsnd5 within Unreslricled Funds. Vvhere the Trustees decide such fund5 are no longer required for
the purposes Intended, Ihey may be released by transfer to general Unrestricted Funds.
Crltlcal accountlng estlmates and judgements
In the application of the charity's accounting policies, the trustees are required lo make jLtdgemenls, eslimales
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical expenence and other factors that
are relevant. Actual results may differ from these eslimales.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and fulure
periods.
The following jvdgemenls (apart from those involving estimalesl have had the mosl Significant effect on
amounts recognised in the financial slatemenls..
Depreciation
Debt recoverability
Legacy income recognition
23-

KRISHNAMURTI FOUNDATION TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
3 Donatlons and legacies
Unrestricted Restricted Endowed
funds
funds
funds
Total Unrestrlcted Restricted Endowed
funds
funds
fundg
Total
2024
2024
2024
2024
2023
2023
2023
2023
Donations and
gifts
Legacie5
receivable
1,299,525
157,336
490,195 1,947,056
232,125
183.562
347,053
762,740
109,833
109,833
354.558
354,558
1,409,358 157,336
490,195 2,056,889
586.683
183,562 347,053
1,117,298
Analysed by funds
Unrestricted Restrlcted Endowed
funds
funds
funds
2024
Total Unreslrl¢ted Restrlcted Endowed
funds
funds
Funds
Total
2024
2024
2024
2023
2023
2023
2023
Donatlons and glfts
Main School
1,124,859 151,556
Inwoods Small
School
Foundation
Adult Study
Centre
1,276,415
39.699
175,977
215,676
1.318
156.662
1,318
652.637
5,382
145,099
5.382
499,737
5,780 490,195
7,585 347,053
16,686
16,686
41,945
41,945
1,299,525 157,336 490,195 1,947,056
232,125
183,562 347,053
762,740
Legacles re¢elvable
Main School
Foundation
109,833
10g.833
354,558
354,558
1.409.358
157,336 490.195 2,056,889
586,683
183,562 347,053 1,117,298
24-

KRISHNAMURTI FOUNDATION TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
Charltable activities income
Note
Unrestricted
funds
2Q24
Total Unrestricted
funds
2023
Total
2024
2023
School fees
Board and lodging
Royalties
Trading activities
Recoveries from slaff and
students
Government grants
Other income
1.890,041
268,590
51.016
16,106
1.890,041
268,590
51,016
16,106
1,789,600
226,702
83,490
15,299
1,789,600
226,702
83,490
15,299
47,731
29,168
54,972
47.731
29.168
54,972
61,678
32,057
20,060
61.678
32,057
20,060
18
2,357,624
2,357,624
2,228.886
2,228,886
Analysed by fund8
Unrestrlcted
funds
2024
Total Unrestrl¢ted
funds
2023
Total
2024
2023
Main School
Inwoods Small School
Foundation
Adult Study Centre
1,844,435
154.733
290,984
67,472
1,844.435
154.733
290.984
67,472
1,766,056
120,452
98,889
243,489
1,766,056
120,452
98,889
243,489
2,357,624
2,357,624
2,228,886
2.228,886
S Charltable activitie8 expenditure- Unrestrlcted funds
Main School
Small Foundatlon
School
2024
Centre
Total
Total
2024
2024
2024
2024
2023
Archive costs
Depreciation
Direct Costs
Food & Household Costs
Governance costs
Irrecoverable school fees
and bad debts
Premises cosls
Publicily
Royalties paid
Support costs
4,728
3,471
133,429
1,315
81,558
4.728
233.353
995,725
266,107
156,275
3,828
175.178
930.285
192,125
54,206
135.541
620.603
203.977
68,102
3.450
105,996
3,026
2,514
90.891
135,697
57,789
4,101
2,289
478,463
18,840
16
15,020
603
4.569
5,800
61,739
16,335
43,534
6,874
569,261
88,417
16,335
447,733
3,842
501,925
40,966
22,243
421.272
69,978
7,235
357,261
18,634
28,304
1,885,076
149,259
356,478
393.995
2,784.808 2,345,870
25-

KRISHNAMURTI FOUNDATION TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
5 Charitable activities expenditure - Restrlcted funds {continued)
Main School Foundation
Total
Total
2024
2024
2024
2023
Archive costs
Depreciation
Direcl Costs
Food & Household Costs
Premises costs
Support costs
280
280
64,893
1,802
1,694
3,649
6,624
144
64,894
95,744
64,893
1,802
1.694
3,649
13.826
6.792
6.624
72,038
6,904
78,942
181,400
Support and governance costs
SupportGovernanco
costs
CO8t8
2024
SupportGovernance
cost8
costs
2023
Staff costs
Communications
Travelling and motor
Insurance
Irrecoverable VAT
Slalionery and office costs
Loan interest and bank
charges
Other costs
Audit and accountancy
Legal and professional fees
186,508
29,663
9,690
52.543
101,540
49,915
186.508
29,663
9.690
52,543
101,540
49,915
172,837
11.393
5,615
44,330
85.214
69,179
172.837
11.393
5,615
44,330
85,214
69,179
7,626
16,872
7,626
16,872
22,080
134,195
7,805
31,691
7,805
31,691
19.224
34,982
22,080
134,195
19,224
34,982
454.357
156,275
610,632
428,064
54,206
482,270
Where the allocation of costs is clearly identifiable. 5UPPOrt costs are allocated to the funds lo which they
relate. Where the allocation between funds is not clearly identifiable (for example, accountancy fees), costs
afe allocated on a percentage basis.
-26-

KRISHNAMURTI FOUNDATION TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
Net movement In lunds
2024
2023
Net movement in funds is stated after chargingllcreditingl
Fees payable to the charilable company's auditor for the audit of the
charitable company's financial statements
Depreciation of owned tangible fixed assets
Profit on disposal of tangible fixed assets
13,350
298,246
16021
12,725
240,072
12,2851
Trustees
None of the Iruslees lor any persons connected wilh them) received any remuneration, or benefits from Ihe
charity during the year. Trustee travel and other support expenses tolalling £857 (2023. £2,923) are included
within Other Support Costs.
Employees
Number of employees
The average monthly number of full-lime equivalent employees during the year was..
2024
Number
2023
Number
Teaching and support
Management and administration
38
41
12
48
53
Employment costs
2024
2023
Wages and salaries
Social security costs
Other staff costs
Pension costs
1,025.807
72.784
3.151
19.948
1,009,974
71,245
22,293
18,338
1,121,690
1.121.850
The average number of staff on a head count basis in the year was 5712023.. 581.
The key management personnel of the charity comprise the trustees and the senior management team. The
lotal employee benefits, comprising salary. pension contributions and related employers, national insurance
contributions of the key management personnel of the charity were £112,288 {2023". £111,139).
There were no employees whose annual remuneration was £60,000 OT more.
27-

KRISHNAMURTI FOUNDATION TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
10 Tangible Assets
Land and
buildings
Plant and
machinery
Totsl
Cost
At 1 August 2023
Additions
7.250,764
1,094,890
8,345,654
1,100,000
176,363
1,276,363
22,882
Disposals
22,882
Al 31 July 2024
8,350,764
1.248,371
9,599,135
Depreclallon and Impalmient
Al 1 August 2023
Depreciation charged in the year
Depreciation eliminated
3,328,745
169.874
793,041
128,372
4,121,786
298,246
22,882
22,882
Al 31 July 2024
3,498,619
898,531
4,397,150
Carrying value
Al 31 July 2024
4,852,145
349,840
5,201,985
Al 31 July 2023
3,922.019
301,849
4,223,868
The directors are of the opinion that the value of the Freehold Propety is in excèss of ils book value based on
the comments in a valuation carried oul in the previous financial year.
11 Flxed asset Investments
2024
2023
Investments in subsidiaries
100
100
Details of the charity's subsidiaries at 31 July 2024 are as follows..
Name of undertaking
Registered
offlce
Nature of business Class of
•A Held
shares held Direct
Indirect
Brockwood Park Estates Ltd
England & Wales Development of
building projects
Ordinary
100.00
The aggregate capital and reserves and the result for the year of the subsidiary excluded from
consolidation was as follows..
Name of undertaklng
ProfiVILossl
Capital and
Reserves
Brockwood Park Estates Lld
(72)
11,171)
28-

KRISHNAMURTI FOUNDATION TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
12 Investm•nls
2024
2023
Listed
Cash and settlements pending held as part of the investment portfolio
8.103,006
479,038
3,971,358
1,204.479
6,582,OH
5,175,837
Market value
Brought forward
Capital inflows
Capital oufflows
Return on investment
Unrealised gainsl (losses)
Inveglment manag8ment le88
5.175,837
1.075.000
(100,0001
215,908
228,847
(13,3481
5,100,000
59,889
19,515
13,567)
Camed forward
6,582,044
5,175.837
13 Stock•
2024
2023
Stock for fuel
Goods for resale
7,120
24,866
10.117
23,655
31,986
33,772
14 D•btoM
2024
2023
Amounts falllng du• wlthln on• y?•r:
School fees recovèrable
Trade debtors
Amount owing from related paty
Other debtors
25,972
27,018
502
147,873
21,721
28,612
1,158
291.380
201,365
342,871
-29-

KRISHNAMURTI FOUNDATION TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
15 Credltors.. amounts falllng due wlthln one year
2024
2023
Tfade creditors
Taxes and social security
School fees in advance
Fee and textbook deposit5
Other creditors and accruals
179,152
80,046
782,379
86,800
64.941
66.865
49,157
947,314
95,932
84,962
1.193,318 1,244,230
16 Deferred income
2024
2023
Deferred income is included in the financial statements as follows..
Deferred income at 01 August 2023
Released from previous periods
Resources deferred income year
981,394
710,597
(966,9041 {710,5971
788,186
981.394
Deferred income at 31 July 2024
800,656
981,394
17 Provlsions for Ilablllties and ¢harge8
2024
2023
rovision for
taff leavin
Balance at 1 August 2023
Used in the year
Charge for the year
87,545
113,1961
2,170
62,739
14,1931
28,999
Balance al 31 July 2024
76.519
87,545
The Iruslees have agreed that residential members with more than 3 years of service will be entitled to receive
a lump sum equivalent lo 50/0 of annual salary for each completed year, subject to a maximum service of 15
years.
18 Government grants
During the year the chanly received government grants relating lo heat incentives totalling £29,168
12023 £32,057).
19 Retirement benefit schemes
Defined contribution schemes
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the
scheme are held separately from those of the charity in an independently administered fund.
The charge to profit or loss in respect of defined contribution schemes was £19,94812023 £18,338).
-30-

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KRISHNAMURTI FOUNDATION TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
20 Restrlcted and Endowed Funds (continued)
A description of the nalure and purpose of the restricted funds is shown below..
Main School General - SmalleT donations lo be used for a specificlreslricled purpose in BP School
Main School Bursary - Donations to be used for bursary in BP School
Main School Music - Donations to be used for music in BP School
Main School Pavillions Donations lo be used for pavillions in BP School
Foundation Archive Exchange - Donations to be used in the foundation for archive exchange between the
three foundations
Foundation Subtitling - Donations lo be used for subtitling the videos of Krishnamurti
J K Online - Donations to be used lo pay for the cost of JKO website version 1
Alumni Bursary Fund 254/0 donations restricted lo bursary for Alumni children and 750/0 restricted to
bursary In BP School
Jean-michel Bursary and Teacher Recruitment - Donations lo be used for bursaries and teacher recTUitmenl
IBrockwood and Inwoodsl.
Elisabeth Fraser- Legacy lo be used for bursaries and repaiTS lo the school (Brockwoodl
Muriel Gill - Legacy lo be used for financial 5UPPOrt for those staying al the Krishnamurti Study Cenlre.
A description of the nature and purpose of the endowed funds is shown below..
Permanent Endowment- Permanent Endowment funds represent assets which musl be held permanently
by the charity. The fund balance comprises donations made lo the permanent endowment fund, with any
capital gains or losses arising on invested funds.
Expendable Endowment- Expendable Endowment funds may be applied in promoling lo the Objects ofthe
charity in such manner as the Trustees see fit.
Transfer8 between funds
Permanent Endowment
The Iransfef of £4,805 relates to the transfer of a donation lo the Fund, as per the donor's wishes.
Main
cho
l General
The transfer of £33,832 relates lo the reallocation of a donation for energy self-sufficiency, the transfer of funds to
the Unreslricled Main School Fund, and the transfer of donations Iwished by the donor to be added lo the
Permanent Endowment, Main School Unreslricted, and Alumni Bursary funds).
Elisabeth Fraser
The transfer of £124,362 relates lo repairs to the school.
Je
n-mich l B
and Teacher R
cruilm
nt
The transfer of £191 .847 relates 10 school fees covered by bursaries and sponsorships from this fund. as well as
teacher recruilmenl costs.
Alumni Bursa
The transfer of £2,013 relates to the allocation of donation5. a5 per the donors, wishes.
Foundation Archive Exchan
e and Found
n Sublillin
The transfers of £6,095 and £584 relate lo the transfer of staff salary costs.
33-

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+¥ 7J V4

KRISHNAMURTI FOUNDATION TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
23 Contingent assets
There is inherenl uncertainly in the probate valuation of estates as a result of the nature of underlying assets and
liabilities, and the lime that elapses between probate and closure of other contirsgencies Ihat attend the estate.
Legacies are ￿cogniSed al the point of notification of grant of probate, when il can be measured or estimated with
sufficient reliability-
At the year end, the charity was entitled to multiple legacies whose value could nol be eslimaled with sufficient
reliability to recognise in the year. in accordance with FRS 102 and the Chanties, SORP.
24 Related party transactlons
Similar foundations exist in other countries throughout the wodd induding Spain, India and USA. These
foundations have joined logelheT lo create a global website the costs of which are to be shared be￿een them.
The charity and the American foundation {KFA) have made a Joint Representation Agreement whereby all
royalties receivable on books by the two organisations are shared equally between them and they will be jointly
iepresented to all trade partners {publishers. literary agents, comrnittees, online channels elc.) to avoid duplication
of represenlalion. The amount of royalties to be charged lo KFA amoLtnts to £16,951 {2023 - £41,993) and
charged by KFA amounts to £18,300 12023 £25.6631. The amount calculated as due from KFA amounts lo
£17,644 (2023 - £16,331) and due to KFA amounts lo £18,30012023 £nill.
Donations frorn Trustees to the charity for various purposes amount to £29312023 - £2,145) throughout the year.
25 TNstee8' liabillty Insurance
An insurance policy exists, as part of the Charity's normal insurance policy, indemnifying any insured individual
for any wrongfijl act las defined in the policy) in their capacity as a governor, principal, officer or employee.
26 Cash generated from operations
2024
2023
Surplus for the year
1,985,617
918,046
Elimination of non-operaling cashflows..
Investment income
Interest receivable
Financing costs
Investment management costs
Profit on disposal of tangible fixed assels
1215,9091
13,6471
7,626
13,348
1602}
(59,8891
{23,2951
7,805
3,567
(2.2851
Adiuslmenls for..
Oeprecialion and impairment of tangible fixed assets
Increaselldecrease) in provision
Fair value movement on investments
Donation of fixed assets
298.246
{11.0261
1228.6461
11,100,000)
240,072
24,806
{19,5151
Movements in working capital..
{Increasel in slock
{Increaselldecrease in debtors
Increase in creditors due within one year
1,786
141,506
{50,9121
11081
{217,1211
237,097
Cash (absorbed by)Igenerated from operations
837.387
1,109,180
36-

KRISHNAMURTI FOUNDATION TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
27 Analy818 of changes In nat debt
31 July 2023
C••h Ilows 31 July 2024
Cash at bank and in hand
582,589
1317,353)
265,2
-37-