OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Krishnamurti Foundation Trust Ltd

2025-07-31-accounts

Charity Registration No. 312865 (England and Wales) Company Registration No. 1055588 (England and Wales)

KRISHNAMURTI FOUNDATION TRUST LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

KRISHNAMURTI FOUNDATION TRUST LIMITED

CONTENTS

a

Page
Legal and administrative information 1
Trustees’ report 2-9
Statement oftrustees’ responsibilities 10
Independent auditor's report 11-13
Statement offinancial activities 14-15
Summary ofincome and expenditure 16
Balance sheet 17
Statement of cash flows 18
Notestothefinancialstatements 19-35

a

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
Charity number 312865
(England and Wales)
Company number 1055588
Registered office Brockwood Park
Bramdean
Alresford
Hampshire
$024 OLQ
Key personnel Mr. T. Lehmann Co-Chair of School Management Committee
Ms M. Masoumian Bursar and Co-Chair ofSchool Management Committee
Mr. R. Patel Head of Foundation and Centre
Mr. T. Power Member ofSchool Management Committee
Mrs. K. Power Member of School Management Committee
Solicitors VealeWasbrough Vizards LLP (VWV)
With offices in London, Watford, Bristol and Birmingham
Paris Smith
1 London Road
Southampton
$015 2AE
Banker NatWest Bank Plc Investment Manager Cazenove Capital
Winchester Old Bank Schroder & Co. Limited
105 High Street 1 London Wall Place
Winchester London
Hampshire EC2Y 5AU
$023 9AH
Auditor Azets Audit Services
Third Floor, Gateway House
Tollgate
Chandlers Ford
Hampshire
$053 3TG
Websites Main School www.brockwood.org.uk
Small School www.inwoods.org.uk
Foundation www.kfoundation.org.uk
Centre www.krishnamurticentre.org.uk
Global www.jkrishnamurti.org

ae

KRISHNAMURTI FOUNDATION TRUST LIMITED TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 JULY 2025

a

The trustees present their report and financial statements for the year ended 31 July 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's 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 1 January 2019)".

OUR PURPOSES, ACTIVITES, AIMS AND OBJECTIVES

Our Charity’s purposes, as set out in the objects contained in the company’s Articles 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:

  1. Brockwood Park School provides a general education for students aged 14 years and over. 2. Inwoods Small School also provides a general education, but for pupils up to the age of 11 years. 3. The Foundation maintains the archives of the works of Jiddu Krishnamurti and disseminates Krishnamurti’s work via print and digital mediums.

  2. 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 Objectives

Our objectives are set up to reflect the educational aims of our Schools, the preservation and dissemination by the Foundation of the works ofJiddu Krishnamurti and his many discussions with other philosophers, psychologists, social scientists, and religious figures and to provide a high quality study centre to enable visitors to study these works and other comparative, religious and psychological works available in the library and discuss and explore them. In setting our objectives and planning our activities, the Trustees have considered the Charity Commission’s general guidance on public benefit and to its supplementary public benefit guidance on advancing education and on feecharging.

Our key objectives for the year included:

Our Public Benefit

We endeavour to encourage all who wish to attend our schools to do so, irrespective of their financial means (see our Bursary Policy below). We strongly believe that our schools and our students benefit from learning within a diverse community. We offer a generous bursary fund. In the academic year 2024-2025, the bursary awarded amounted to 19% of total school fees (8.6% in 2024), representing a substantial increase on the previous year.

Our schools hold in-person and online Open Days which members of the local community are welcome to attend. Many teachers and educators, not connected with the charity, visit the schools and the Centre to 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 to come and visit.

-2-

KRISHNAMURTI FOUNDATION TRUST LIMITED TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 JULY 2025

The Foundation’s online activities continue to make Krishnamurti’s transformative message freely accessible to a global audience. Our strategic focus on digital outreach, combined with an adaptive and agile approach to evolving technologies and trends, has significantly amplified the impact of our work.

Our Instagram page is approaching 1.2m million followers, a testament to the increasing relevance of Krishnamurti’s message in today’s world. His teachings resonate with audiences of all ages — particularly younger generations — providing insights into self-understanding and offering guidance in facing modern crises and challenges. Ina digital environment often overwhelmed by superficial content, Krishnamurti’s profound message stands out, by virtue of its freedom from dogmatic assertions.

To meet people where they are, we maintain a strong presence across major platforms, diversifying our digital output. Our official YouTube channels host 4,500 videos, with over one million combined subscribers, generating 36 million views annually through daily content releases. Accessibility remains a top priority, with 5,500 subtitles available in 40 languages. We have also created free directories with links and information for the videos and audios available on our official YouTube channels, and we offer several free booklets in both digital and printed format.

In addition to Instagram and YouTube, our growing presence on TikTok, X (formerly Twitter), Facebook, and Threads has garnered 650,000 combined followers, further extending our reach. Our podcast, Urgency of Change — The Krishnamurti Podcast, is now in its seventh season, featuring over 275 episodes and surpassing 2.9 million all time downloads.

Our website has become a comprehensive repository of curated Krishnamurti material. With 940 pages of quotes, articles, photographs, free downloads, and an index of 220 topics, the site serves both newcomers and those already familiar with Krishnamurti, allowing exploration at any depth. Transcripts, videos, audios, and quotes from various talks are freely available on our international website (jkrishnamurti.org). Over the past year, our websites have received more than 800,000 visits.

With the assistance of Google’s free search advertising facilities, the charity has expanded its reach, boosted visibility, and driven significant traffic to its website. Across all networks, we reached more than 100 million individuals in the past year.

The most important proof of the impact of all this work is the recent popularity of in-person activities taking place at the Krishnamurti Centre, our retreat centre in Hampshire. Hundreds of people from all over the world come together every year to 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.

Our charges for staying at the Krishnamurti Centre are kept as low as possible to ensure that all who wish to attend can do so. All Centre rooms during week days have lower rates. If a guest cannot afford the full room-rate, we may makea discretionary reduction to the cost, or allow a guest to stay for free. For most of the year, the Centre is open, free of charge, to any day visitor who wishes to make use of the facilities (library, video-room, audio and video players) thereby encouraging people to visit regularly to study and research Krishnamurti’s teachings and other religious, psychological and spiritual works. We offer a one-time discount for students and people who may not be able to afford the costs to enable them to visit and stay at the Centre. We have developed programmes at Krishnamurti Centre which would enable wider access to interested people. We have a 2-4-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 gathering and young adult retreats to stay at Brockwood and visit the centre on a very lowcost basis. We have expanded our offering of discretionary 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 to attend them. On an ad hoc basis we also offer other ways for people to have access to the centre at discount such as extra free night for anyone staying for at least 2 nights (such campaigns are done on ad hoc basis and gets communicated to the public via our social media channels and digital newsletters).

We have created meticulously designed small booklets containing curated materials from Krishnamurti’s work and we make them available for free in both print and digital format.

KRISHNAMURTI FOUNDATION TRUST LIMITED TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 JULY 2025

a

At the Krishnamurti Centre we have brochures, bulletins, and articles available for free, which give information about Krishnamurti’s teachings and the intentions of the Centre and which we send to anyone who contacts us and wishes to know more.

At least six times a year the Foundation sends out, free of charge to our subscribers, e-newsletters containing audio, video and text of the teachings of Krishnamurti.

Bursaries and Financial Assistance

As stated above, the Trustees believe that it is important to make bursaries available to students from families who may not be able to pay all of the school fees. In assessing a family’s means we take many factors into consideration, including family income, investments, savings, etc. We currently rely primarily on the generosity of benefactors to provide bursaries. We must ensure that a balance is struck between fee-paying parents and those benefiting from the bursaries.

Bursaries range from a 10% to an 85% remission of fees. Information about fee assistance through bursaries is provided to all who request it. In the current year the school has made available 19% of its total expected fee income for bursaries.The fees for the main school are paid annually and before the start of the term. However, we understand that some families need to budget carefully, therefore, we offer the facility to pay fees in two or three instalments. The fees for Inwoods Small School are paid termly. In exceptional cases and upon request, as an additional provision of financial aid, we agree on a payment-plan with parents who need this assistance to be able to afford the fees.

OUR STRATEGY

The Trustees are responsible for setting strategies for achieving the objectives determined for the areas of operation of each section of the Charity.

Key objectives and strategies

Our key objectives of the charity are listed below with strategies adopted to achieve those also displayed:

a

-4-

KRISHNAMURTI FOUNDATION TRUST LIMITED TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 JULY 2025

Achievement and performance The charity continues to improve

The charity continues to improve its financial health despite facing a challenging economic and regulatory environment.

The Foundation’s digital activities have brought Krishnamurti’s teachings to millions of people worldwide, entirely free of charge. New social media campaigns have significantly increased online engagement, with our Instagram page now approaching 1.2 million followers. On our official ad-free YouTube channels, which have more than one million combined subscribers, Krishnamurti’s talks receive over 36 million views in a year. Thanks to carefully designed social media activity, the use of a Google Ad Grant, and our online platform kfoundation.org — an extensive repository with over 940 pages of curated free content — the Foundation’s websites receive 800,000 visits annually. Our popular podcast, Urgency of Change — The Krishnamurti Podcast, is now in its seventh season and has been downloaded 2.9 million times.

The Foundation continues to work closely with two prominent publishers in the UK, Watkins and Rider. We have a new book due to be published by Rider.

We are continuing with the new programmes recently introduced at the Centre. These include the 2-4-week volunteering programme, Young Adult retreats, Group retreats and a Summer Gathering. All have been very successful and have been very well attended, bringing more people from diverse backgrounds to the Centre. Most people hear about our centre programmes as a result of our social media initiatives. The Centre has seen its number of rooms booked overnight increase by 165% compared with 2022, increasing from 2,436 to 6,477. This indicates a significant rise in the number of people using the Centre.

Pupil Numbers, Visitors and Fees

We had 59 students enrolled at Brockwood Park School and 22 at Inwoods Small School for the 2024-25 academic year.

The two-tier fee structure, that was put in place for the small school and the main school, was maintained for academic year 2024-25. The small school lower tier was £8,498 and the higher tier was £9,579. The main school lower tier fee was £29,000 and the higher tier was £37,850. For the academic year 2024-25, the Board of Trustees decided to pass on 14% of the 20% VAT, introduced by the government from 1 January 2025, to parents with the school absorbing the remaining 6%. Some parents, particularly those receiving bursaries, requested assistance with this additional cost, which was provided in most cases.

Co-curricular Activities

In addition to a full programme of academic courses, AS/A-level and non-exam courses, the main school continues to offer a wide range of co-curricular activities. These range from pottery and woodwork, through gardening and bushcraft, to a range of music-related tuition and a good selection of sports. There is a lot of interest in the performing arts and two major concerts (or a concert and a play) are prepared each year. The school also organises a selection of trips for students during term-time to museums, galleries, theatres, and nature reserves. The main school continued to offer a workshop week with various workshops which students would not otherwise have access to.

At Inwoods children complete academic subjects such as English and Maths but they also do activities and projects that have a more creative or practical focus. These projects can 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 WaterAid and local businesses. The school also organises termly trips and after school clubs for two days each week.

Details of Bursary Awards -— Policy into Practice

Bursaries and sponsorships awarded were 19% of our total expected fee income and amounted to £386,308 This aided 26 of our students at the main school, and 6 pupils at the small school.

The Trustees review the provision of bursaries annually and delegate the responsibility of offering bursaries to the School Management Committee. The scheme widens access to the schools to people from all backgrounds and walks of life and allows suitable students, who would otherwise be unable to attend, to be part of the school community.

a5.5

KRISHNAMURTI FOUNDATION TRUST LIMITED TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 JULY 2025

Environmental Incentives — Cutting our “Carbon Footprint”

Concern for the environment is an important part of living together at Brockwood. Both schools are vegetarian and growa proportion of their own food organically in their kitchen 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's curriculum.

Day-to-day activities such as reusing and recycling items have been standard practice for many years We also take seriously our responsibility to preserve and enhance the Grade II listed house and surrounding landscape for current and future generations. Upgrades have been made to improve the environmental performance of our buildings, including better insulation and the installation of eco-friendly heating systems. In response to increasingly dry summers, we are improving water conservation through drip irrigation systems and the collection of rainwater in large storage tanks. The school grounds are designed to provide a variety of wildlife habitats such as woodland, hedgerow, wetland and wildflower areas for both educational purposes and also to increase biodiversity on our land.

As part of our ongoing commitment to renewable energy, we have invested in several low-carbon technologies. A wood-chip boiler heats the Centre building, and our newer staff and student accommodation, the Pavilions, is powered by ground-source heat pumps. We have also installed air-source heat pumps and a solar array atop the Cloisters building. All buildings use low-energy lighting and are now supplied by a renewable electricity provider. In addition, we use low-toxicity cleaning products across 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 grounds 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 our own compost to use in our organic gardens and by maintaining and enhancing tree cover on our 39 acres.

Our pathway to net zero was supported by an impact report created by Planet Mark two years ago. According to the report figures we average 3 to 4 tonnes CO2 per person per year on the basis of around a hundred members in the community. The average British CO2 footprint is 5.2 tonnes per person per year. We are continuing with our overall strategy towards net zero and can better track our progress using reports such as this.

We introduced Community and Volunteering Days this year at the main school, with all students participating. To enable full involvement, students were divided into two groups and visited the nearby Hinton Ampner Estate (National Trust) on two separate occasions. There, they supported the “Reimagining a Hampshire Estate” project, which focuses on increasing woodland cover, improving climate resilience, and boosting biodiversity. We plan to continue this initiative with the National Trust and the South Downs National Park in the coming years.

Fundraising

The charity does not use professional fundraisers. Our approach to fundraising is light-touch and relies significantly on communicating clearly and directly with our donors about activities in the charity and areas of needs within the charity. We have a close relationship with our donors and organise events, activities, and communication strategies to keep them very well informed of what happens at Brockwood. In our donor cultivation cycle we place less emphasis on requesting and a great deal on clear communication.

Future Plans

The charity plans to continue to clarify and review its long-term objectives and vision and align the internal operations with these objectives, devising strategies to achieve these objectives and vision.

-6-

KRISHNAMURTI FOUNDATION TRUST LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 JULY 2025

FINANCIAL REVIEW

Our Finances

Oneofour risk management policies is to 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 the charity decreased from £4,634,068 to £2,960,806. This was mainly due to a decrease in donations and legacies as the charity received exceptionally high amount of donations and gifts last year. The amount of donations being received in the year was £429,339 (2024 - £1,947,056). Legacies amounted to £87,493 (2024 - £109,833). After deducting expenses, the Net Incoming Resources for the charity amounted to £268,110 (2024 - £1,985,617).

As a registered charity, we continue to benefit from tax-exempt status, meaning we pay no tax on deposit interest applied to the charity's purposes and can reclaim tax suffered on Gift Aid donations. However, from April 2025, we no longer qualify for the 80% reduction in business rates on the buildings we occupy for charitable purposes, which has had a negative financial impact. Additionally, since January 2025, the requirement to charge VAT on school fees has resulted in 20% VAT payable on our fees. As noted above under “Pupil Numbers, Visitors and Fees”, for the academic year 2024-25, 14% of this was passed on to parents with the school absorbing the remaining 6%. This, in turn, has increased the level of bursary support we provide to ensure that deserving students can still access the school.

Reserves Policy and Financial Health

The Charity has a Reserve Policy and an Investment Policy which are reviewed on an annual basis by the Trustees to ensure continuing appropriateness. The Trustees have considered the relevant factors and risk facing the Charity when arriving at the Reserve Policy. The Charity’s assets are sufficient to meet its obligations and are all held for use by the four departments in the Charity. The endowment fund, which was set up in October 2022, 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. At least 10% of the charity’s unrestricted reserves are kept in checking and/or 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 2025, the total funds of the Charity were £11,280,989 (2024: £11,012,879). Of these, £1,511,010 (2024: £1,800,767) are restricted funds, £1,678,266 (2024: £1,089,688) are endowed funds, and £8,091,713 (2024: £8,122,424) are unrestricted funds.

Of the unrestricted funds, £4,214,494 (2024: £4,053,693) is represented by tangible fixed assets, and £1,967,118 represented by net current liabilities (2024: £1,341,460 net current liabilities.) There are no long-term liabilities and provisions (2024: £76,519). The permanent endowment fund totals £1,678,266 (2024: £1,089,678).

Investment policy

The Charity has an Investment Policy which is reviewed on an annual basis by the Trustees to ensure continuing appropriateness. The financial objective of the Charity is to at least maintain the real value of the assets whilst generating a stable and sustainable return in long term. The investment objective is to generate a return of inflation plus 3% per annum over the long term, after expenses. The charity ensures that it has access to 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 impact the operation of charity. This amount would at least cover three months of the operating cost of the Charity.

The Charity’s assets are invested widely and diversified by asset class. The Charity assets are invested in line with its aims. The trustees do not wish to adopt an exclusionary policy, but individual investments may be excluded if perceived to conflict with the Foundation's purpose. The Charity currently uses a sustainable multi asset fund for its

-7-

KRISHNAMURTI FOUNDATION TRUST LIMITED TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT)

FOR THE YEAR ENDED 31 JULY 2025

long-term 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 to manage the assets on a discretionary basis in line with the Charity’s Investment Policy. At 31 July 2025, total investments were worth £7,011,319 (2024: £6,582,144), of which £1,166,982 (2024: £1,095,334) comprises a permanent endowment. The Charity follows the standard rules. £621,003 of the Charity’s investments (2024 £479,038) are held in cash or short-term deposits.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

Krishnamurti Foundation Trust Limited is a company limited by guarantee governed by its Articles of Association which were last altered in November 2024.

It is registered as a charity with the Charity Commission.

Each member agrees to contribute £1 in the event of the charity winding up.

Governing Body

The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as the Governors. Under the requirements of the Articles of Association the normal term of office for a Governor is three years and the end of which they shall be eligible for re-election Following the adoption of the Articles in November 2024, the Governors in office at that time continued to hold office under their existing terms. The governing body consists of the persons mentioned on page 1.

In accordance with the Articles of Association, Mrs Marina Kuyper and Mr G Primrose retire by rotation and being eligible, offer them for re-election.

The Governors meet as a body on at least three occasions in each year, the duration of each meeting being about four days.

All Governors give their time voluntarily as Trustees.

Recruitment and Training of Governors/Trustees

The existing Governors are always on lookout for finding appropriate Trustees with the necessary range of skills and experience and with a keen interest in Krishnamurti’s Teachings. New Governors are mentored by more experienced Governors in the workings of the Charity and its procedures.

The two Safeguarding Liaison trustees, one of whom is the Health and Safety Liaison Trustee, regularly attend training on school regulatory and compliance matters and keep the other trustees informed and up to date with the latest updates to regulations. All the Trustees receive annual refresher safeguarding training including Online Safety.

Organisational Management

The Governors (Trustees) are legally responsible for the overall management and control of the four areas of the Charity. These are the main school (referred to as Brockwood Park School), the small school (referred to as Inwoods Small School), the Foundation (referred to as Krishnamurti Foundation Trust) and the adult Study Centre (referred to as The Krishnamurti Centre).

The Members of the Management Committees have day-to-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-ordinator who is also part of the School Management team has the day-to-day responsibility for running the Small School. The Head of the Foundation and Centre has a day-to-day oversight and responsibility for running the Centre and Foundation and liaises with the CoChairs of the School Management Committee for the matters concerning the whole charity.

-8-

KRISHNAMURTI FOUNDATION TRUST LIMITED TRUSTEES' REPORT (INCLUDING DIRECTORS’ REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 JULY 2025

Risk Management

The Governors are responsible for the identification and management of risks. The major risks to which the Trust is exposed, are identified by the Governors with the assistance and consultation of the Management Committees. These risks have been reviewed and systems and procedures established to manage those risks. Examination of the risks and establishment of controls to mitigate them is delegated to the Management Committees and the process is overseen by the Bursar on behalf of the governing body. The Risk Register is reviewed by the Trustees in each Trustee meeting. A review of the 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:

Through the risk management processes established for the charity the Governors are satisfied that 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.

Disclosure of information to the auditors

In so far as the Trustees are aware at the time of agreeing our Trustees’ Annual Report:

Auditor

Azets Audit Services were appointed as auditor to the charitable company and a resolution proposing that they be reappointed will be put to a General Meeting.

The trustees’ report, including the directors’ report and strategic report, was approved by the Board of Trustees.

Mrs W Smith

28 Os

KRISHNAMURTI FOUNDATION TRUST LIMITED

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 JULY 2025

The trustees (who are also directors of Krishnamurti Foundation Trust Limited for the purposes of company law) are responsible for preparing the Trustees’ Annual Report (including the Directors’ and Strategic Report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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 they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable 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:

The trustees 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 statements may differ from legislation in other jurisdictions.

-10-

KRISHNAMURTI FOUNDATION TRUST LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF KRISHNAMURTI FOUNDATION TRUST LIMITED

Opinion

We have audited the financial statements of Krishnamurti Foundation Trust Limited (the ‘charitable company’) for the year ended 31 July 2025 which comprise the statement of financial activities, the summary of income and expenditure account, the balance sheet, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

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

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

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

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

Other information

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

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-11-

KRISHNAMURTI FOUNDATION TRUST LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF KRISHNAMURTI FOUNDATION TRUST LIMITED

Matters on which we are required to report by exception In the light of the knowledge and understanding of[the][charitable][company][and][its][environment][obtained][in][the][course] of the audit, we have not identified material misstatements in the strategic report and the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; 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 law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation offinancial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the 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 trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, 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.

-12-

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 https :/Awww.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-quidance/Standards-and-quidance-forauditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx.

This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

==> picture [181 x 60] intentionally omitted <==

----- Start of picture text -----
rec{ f dh._ Comress:
JF o rn and Noble on (Senior Statutory Auditor)behalf of Azets Audit Services
----- End of picture text -----

12, Noveud‘ bch aorS .

Chartered Accountants

Statutory Auditor

Third Floor, Gateway House Toligate Chandlers Ford Hampshire United Kingdom $053 3TG

=4131-

KRISHNAMURTI FOUNDATION TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 JULY 2025

Current financial year

Unrestricted Restricted Endowed Total Total
funds funds funds
2025 2025 2025 2025 2024
Notes £ £ £ £ £
Income
Donations and legacies 3 274,575 155,728 86,529 516,832 2,056,889
Investment income 178,308 - 42,788 221,096 219,555
Charitable activities 4 2,222,878 - - 2,222,878 2,357,624
Total income 2,675,761 155,728 129,317 2,960,806 4,634,068
Expenditure on:
Raising funds
Investment management fees 15,322 - - 15,322 13,348
Charitable activities
Publicity 89,973 - - 89,973 88,417
Royalties payable (including KFA) 30,442 - - 30,442 16,335
Irrecoverable school fees and bad
debts 5,650 - - 5,650 6,874
Direct costs 1,175,979 678 - 1,176,657 997,527
Food and household costs 247,382 - - 247 382 267,801
Archive costs 781 - - 781 5,008
Premises costs 421,772 - - 421,772 572,910
Support costs 6 422,942 7,490 - 430,432 454,357
Depreciation 223,330 64,894 - 288 224 298,246
Governance costs 6 62,909 - - 62,909 156,275
Total charitable expenditure 5 2,681,160 73,062 - 2,754,222 2,863,750
Total resources expended 2,696,482 73,062 - 2,769,544 2,877,098
Net gains on investments 12 42,332 - 34,516 76,848 228,647
Net incoming resources before
transfers 21,611 82,666 163,833 268,110 1,985,617
Gross transfers between funds 20/21 (52,322) (372,423) 424,745 - -
Netmovement in funds (30,711) (289,757) 588,578 268,110 1,985,617
Fund balances at 1 August 8,122,424 1,800,767 1,089,688 11,012,879 9,027,262
Fundbalancesat31July 8,091,713 1,511,010 1,678,266 11,280,989 11,012,879

All income and expenditure derive from continuing activities.

-14-

KRISHNAMURTI FOUNDATION TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

Prior financial year

Unrestricted Restricted Endowed Total Total
funds funds funds
2024 2024 2024 2024 2023
Notes £ £ £ £ £
Income
Donations and legacies 3 1,409,358 157,336 490,195 2,056,889 1,117,298
Investment income 219,555 - - 219,555 83,184
Charitable activities 4 2,357,624 - - 2,357,624 2,228,886
Total income 3,986,537 157,336 490,195 4,634,068 3,429,368
Expenditure on:
Raising funds
Investment management fees 13,348 - - 13,348 3,567
Charitable activities
Publicity 88,417 - - 88,417 40,966
Royalties payable (including KFA) 16,335 - - 16,335 22,243
Irrecoverable school fees and bad 6,874 - - 6,874 3,842
Direct costs 995,725 1,802 - 997,527 1,026,029
Food and household costs 266,107 1,694 - 267,801 192,125
Archive costs 4,728 280 - 5,008 3,972
Premises costs 569,261 3,649 - 572,910 515,751
Support costs 6 447,733 6,624 - 454,357 428,064
Depreciation 233,353 64,893 - 298,246 240,072
Governance costs 6 156,275 - - 156,275 54,206
Total charitable expenditure 5 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 20/21 349,902 (354,707) 4,805 - -
Netmovement in funds 1,708,269 (276,313) 553,661 1,985,617 918,046
Fund balances at 1 August 6,414,155 2,077,080 536,027 9,027,262 8,109,216
Fundbalancesat31July 8,122,424 1,800,767 1,089,688 11,012,879 9,027,262

All income and expenditure derive from continuing activities.

-15-

KRISHNAMURTI FOUNDATION TRUST LIMITED

SUMMARY INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2025

==> picture [462 x 134] intentionally omitted <==

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |All|income|funds| |2025|2024| |£|£| |Gross|income|2,831,489|4,143,873| |Gains/(losses)|on|investments|42,322|169,986| |Total|income|in|the|reporting|period|2,873,811|4,313,859| |Total|expenditure|from|income|funds|(2,769,544)|(2,877,098)| |Net|income|for the|year|104,267|1,436,761|

----- End of picture text -----

«46=

KRISHNAMURTI FOUNDATION TRUST LIMITED

BALANCE SHEET

FOR THE YEAR ENDED 31 JULY 2025

2025 2025 2024 2024
Notes £ £ £ £
Fixed assets
Tangible assets 10 5,232,997 5,201,985
Investments 11/12 7,011,319 6,582,144
12,244,316 11,784,129
Current assets
Stocks 13 36,151 31,986
Debtors 14 148,152 201,365
Cash at bank and in hand 180,615 265,236
364,918 498,587
Creditors: amounts falling due within
one year 15 (1,328,245) (1,193,318)
Net current liabilities (963,327) (694,731)
Total assets less current liabilities 11,280,989 11,089,398
Provisions for liabilities 17 - (76,519)
Net assets 11,280,989 11,012,879
Endowed Funds 20
Permanent Endowment 1,678,256 1,089,678
Expendable Endowment 10 10
1,678,266 1,089,688
Income funds
Restricted funds 20 1,511,010 1,800,767
Unrestricted funds: 21
General unrestricted funds 4,468 558 4,195,090
Designated unrestricted funds 3,623,155 3,927,334
8,091,713 8,122,424
11,280,989 11,012,879
Thefinancial statementswereapproved bytheTrustees on(21 /2s—
Mr. G. Primrose Mrs. W. Smith NK
Trustee
CompanyRegistrationNo.1055588		 Trustee . J

-17-

KRISHNAMURTI FOUNDATION TRUST LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 JULY 2025

==> picture [462 x 355] intentionally omitted <==

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |2025|2024| |Notes|£|£|£|£| |Cash|flows|from|operating|activities| |Cash|generated|from|operations|27|392,051|837,387| |Interest|paid|(10,883)|(7,626)| |Net cash|generated|from|operating|activities|381,168|829,761| |Investing|activities| |Purchase|of tangible|fixed|assets|(319,235)|(176,363)| |Proceeds|from|sale|of tangible|fixed|assets|-|602| |Transfer|from|cash|at|bank|to|non-current|investments|(150,000)|(975,000)| |Interest|income|3,446|3,647| |Net cash|used|in|investing|activities|(465,789)|(1,147,114)| |Financing|activities| |Net|cash|used|in|financing|activities|-|-| |Net|increase|/|(decrease)|in|cash|and|cash| |equivalents|(84,621)|(317,353)| |Cash|and|cash|equivalents|at|beginning|of year|265,236|582,589| |Cash|and|cash|equivalents|at end|of year|180,615|265,236|

----- End of picture text -----

-18-

KRISHNAMURTI FOUNDATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

Charity information

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, SO24 OLQ.

The financial statements have been prepared in accordance with 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 1 January 2019). The charitable company is a Public Benefit 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 statements have been prepared under the historical cost convention, modified to include the revaluation of certain properties and listed investments at fair value. The principal accounting policies adopted are set out below.

Preparation of consolidated financial statements

In the opinion of the trustees, the results of the subsidiary company are not material to 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 (FRS 102), not to prepare group accounts.

1.2. Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

Income from general donations is recognised on receipt or once the charity has been notified of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Income from school fees is recognised in the period to which they relate. School fees received before the year end relating to future periods are included as deferred income at the year end.

-19-

KRISHNAMURTI FOUNDATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

1 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 to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. Any irrecoverable element of VAT is included with the item of expense to which it relates. All direct and indirect costs are attributed to the areas to which they belong. All other costs are apportioned on a reasonable apportionment basis. Support costs and governance costs (note 6), which are charitable, relate to the stewardship of the charity’s assets, organisational administration, and compliance with constitutional and statutory requirements.

1.6 Tangible fixed assets

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

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

Freehold buildings 2% straight line basis
Freehold land Not depreciated
MotorVehicles 25% straight line basis
Fixtures and fittings 15% straight line basis
Equipment 25%-33.33%straightlinebasis

The gain or loss arising 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 net income/(expenditure) for the year.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

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

1.9 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, and highly liquid bank accounts.

-20-

KRISHNAMURTI FOUNDATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies

1.11 Financial instruments

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

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

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.12 Taxation

The charity is exempt from corporation tax on its charitable activities.

1.13 Irrecoverable VAT

The charitable company is partially exempt for VAT on its expenses. All of this VAT is accumulated and charged to support costs.

1.14 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.15 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. The assets of the scheme are held separately from the charity.

-21-

KRISHNAMURTI FOUNDATION TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies

1.16 Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in net income/(expenditure) for the period.

1.17 Provisions

Provisions are recognised when the company hasa legal or constructive present obligation as a result ofa past event, it is probable that 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 the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in the statement of financial activities in the period in which it arises.

1.18 Fund accounting

Where funds are received for a specific purpose set out by the donor, or implied by the terms of appeal, these are showna restricted income in the Statement of Financial Activities. Funds donated to be held as capital are shown as Endowment Funds. Expenditure for the purpose specified is applied against the income and any amount unexpended at the balance sheet date 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 set aside funds to cover specific future costs. Such funds are shown as designated funds within Unrestricted Funds. Where the Trustees decide such funds are no longer required for the purposes intended, they may be released by transfer to general Unrestricted Funds.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates 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 experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to 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 future periods.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements:

-22-

KRISHNAMURTI FOUNDATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

3 Donations and legacies

Unrestricted Restricted Endowed Total Unrestricted Total Unrestricted Restricted Endowed Total
funds funds funds funds funds funds
2025 2025 2025 2025 2024 2024 2024 2024
£ £ £ £ £ £ £ £ :
Donations and
gifts 187,082 155,728 86,529 429,339 1,299,525 157,336 490,195 1,947,056
Legacies
receivable 87,493 87,493 109,833 - - 109,833
274,575 155,728 86,529 516,832 1,409,358 157,336 490,195 2,056,889
Analysed by funds
Unrestricted Restricted Endowed Total Unrestricted Restricted Endowed Total
funds funds funds funds funds Funds
2025 2025 2025 2025 2024 2024 2024 2024
£ £ £ £ £ £ £ £
Donations and gifts
Main School 35,754 150,429 86,529 272,712 24,859 151,556 - 176,415
Inwoods Small
School 7,296 7 . 7,296 1,318 . . 1,318
Foundation 106,661 5,299 - 111,960 1,256,662 5,780 490,195 1,752,637
Adult Study
Centre		 37,371 - - 37,371 16,686 - - 16,686
Total donations 187,082 155,728 86,529 429,339 1,299,525 157,336 490,195 1,947,056
The comparative figures fordonation and gifts have been restated to correct the presentation ofincome between the
Main School and Foundation unrestricted funds, to be consistent with the classification offunds included in Note 21.
Legacies receivable
Main School 4,568 - - 4,568 - - - -
Foundation 82,925 - - 82,925 109,833 - - 109,833
Total legacies 87,493 87,493 109,833 - - 109,833
274,575 155,728 86,529 516,832 1,409,358 157,336 490,195 2,056,889

-23-

KRISHNAMURTI FOUNDATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

eS

4 Charitable activities income
Note Unrestricted Total Unrestricted Total
funds funds
2025 2025 2024 2024
£ £ £ £
School fees 1,699,600 1,699,600 1,890,041 1,890,041
Board and lodging 335,825 335,825 268,590 268,590
Royalties 77,982 77,982 51,016 51,016
Trading activities 13,582 13,582 16,106 16,106
Recoveries from staff and
students		 48,778 48,778 47,731 47,731
Government grants 18 29,883 29,883 29,168 29,168
Other income 17,228 17,228 54,972 54,972
2,222,878 2,222,878 2,357,624 2,357,624
Analysed by funds
Unrestricted Total Unrestricted Total
funds funds
2025 2025 2024 2024
£ £ £ £
Main School 1,596,888 1,596,888 1,844,435 1,844,435
Inwoods Small School 170,442 170,442 154,733 154,733
Foundation 363,977 363,977 290,984 290,984
Adult Study Centre 91,571 91,571 67,472 67,472
2,222,878 2,222,878 2,357,624 2,357,624

5 Charitable activities expenditure — Unrestricted funds

Main School Small Foundation Centre Total Total
School
2025 2025 2025 2025 2025 2024
£ £ £ £ £ £
Archive costs - - 781 - 781 4,728
Depreciation 160,450 3,499 3,834 55,547 223,330 233,353
Direct Costs 804,755 126,767 129,986 114,471 1,175,979 995,725
Food & Household Costs 162,448 3,328 383 81,223 247 382 266,107
Governance costs 32,652 1,463 26,601 2,193 62,909 156,275
Irrecoverable school fees
and bad debts 5,628 22 - - 5,650 6,874
Premises costs 304,020 18,369 8,096 91,287 421,772 569,261
Publicity 24,237 760 60,922 4,054 89,973 88,417
Royalties paid - - 30,442 - 30,442 16,335
Support costs 327,410 23,680 37,752 34,100 422,942 447,733
1,821,600 177,888 298,797 382,875 2,681,160 2,784,808

ee

~24-

KRISHNAMURTI FOUNDATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

5 Charitable activities expenditure (continued) — Restricted funds

Main School Foundation Total Total Total
2025 2025 2025 2024
£ £ £ £
Archive costs - - - 280
Depreciation 64,894 - 64,894 64,893
Direct Costs 678 - 678 1,802
Food & Household Costs - - - 1,694
Premises costs - - - 3,649
Support costs - 7,490 7,490 6,624
65,572 7,490 73,062 78,942
Support and governance costs
SupportGovernance Governance 2025 SupportGovernance Governance 2024
costs costs costs costs
£ £ £ £ £ £
Staffcosts 168,377 - 168,377 186,508 - 186,508
Communications 22,784 - 22,784 29,663 - 29,663
Travelling and motor 8,016 - 8,016 9,690 - 9,690
Insurance 58,063 - 58,063 52,543 - 52,543
IrrecoverableVAT 30,426 - 30,426 101,540 - 101,540
VAT absorbed on school fees 52,154 - 52,154 - - -
Stationery and office costs 49,440 - 49,440 49,915 - 49,915
Bank charges 10,883 - 10,883 7,626 - 7,626
Other costs 30,289 - 30,289 16,872 - 16,872
Auditand accountancy - 18,985 18,985 - 22,080 22,080
Legal and professional fees - 43,924 43,924 - 134,195 134,195
430,432 62,909 493,341 454,357 156,275 610,632

6 Support and governance costs

Where the allocation of costs is clearly identifiable, support costs are allocated to the funds to which they relate. Where the allocation between funds is not clearly identifiable (for example, accountancy fees), costs are allocated on a percentage basis.

-25-

KRISHNAMURTI FOUNDATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

==> picture [468 x 112] intentionally omitted <==

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |a| |7Net|movement|in|funds|2025|2024| |£|£| |Net|movement|in|funds|is|stated|after|charging/(crediting)| |Fees|payable|to|the|charitable|company's|auditor|for the|audit|of the| |charitable|company's|financial|statements|14,280|13,350| |Depreciation|of owned|tangible|fixed|assets|288,223|298,246| |Profit|on|disposal|of tangible|fixed|assets|-|(602)|

----- End of picture text -----

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration, or benefits from the charity during the year. Trustee travel and other support expenses totalling £1,579 (2024: £857) are included within Other Support Costs.

9 Employees

Number of employees

The average monthly number of full-time equivalent employees during the year was:

==> picture [439 x 215] intentionally omitted <==

----- Start of picture text -----
|||||| |---|---|---|---|---| |2025|2024| |Number|Number| |Teaching|and|support|35|38| |Management|and|administration|10|10| |45|48| |Employment costs|2025|2024| |£|£| |Wages|and|salaries|1,007,479|1,025,807| |Social|security|costs|57,573|72,784| |Other|staff|costs|(57,935)|3,151| |Pension|costs|268,143|19,948| |1,275,260|1,121,690|

----- End of picture text -----

The average number of staff on a head count basis in the year was 56 (2024: 57).

The key management personnel of the charity comprise the trustees and the senior management team. The total employee benefits, comprising salary, pension contributions and related employers’ national insurance contributions of the key management personnel of the charity were £188,213 (2024: £112,288).

There were no employees whose annual remuneration was £60,000 or more (2024: nil).

-26-

KRISHNAMURTI FOUNDATION TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

10 Tangible Assets

Tangible Assets
Land and Plant and Total
buildings machinery
£ £ £
Cost
At 1 August2024 8,350,764 1,248,371 9,599,135
Additions 173,804 145,431 319,235
Transfers 35,487 (35,487) -
At 31 July 2025 8,560,055 1,358,315 9,918,370
Depreciation and impairment
At 1 August 2024 3,498,619 898,531 4,397,150
Depreciation charged in the year 164,859 123,364 288,223
Transfers 2,606 (2,606) -
At 31 July 2025 3,666,084 1,019,289 4,685,373
Carrying value
At 31 July 2025 4,893,971 339,026 5,232,997
At31July2024 4,852,145 349,840 5,201,985

The directors are of the opinion that the value of the Freehold Property is in excess of its book value based on the comments in a valuation carried out in the year ended 31 July 2023.

11. Fixed asset investments

2025 2024
£ £
Investments in subsidiaries 100 100

Details of the charity's subsidiaries at 31 July 2025 are as follows:

==> picture [428 x 57] intentionally omitted <==

----- Start of picture text -----
Name of undertaking Registered Nature of business Class of % Held
office shares held Direct Indirect
Brockwood Park Estates Ltd England & Wales Development of Ordinary 100.00 -
building projects
----- End of picture text -----

The aggregate capital and reserves and the result for the year of the subsidiary excluded from consolidation was as follows:

Name of undertaking Profit/(Loss) Capital and Reserves

==> picture [266 x 24] intentionally omitted <==

----- Start of picture text -----
£ £
Brockwood Park Estates Ltd (60) (1,231)
----- End of picture text -----

-27-

KRISHNAMURTI FOUNDATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

sga

12 Investments
2025 2024
£ £
Listed 6,390,216 6,103,006
Cash and settlements pending held as part ofthe investment portfolio 621,003 479,038
7,011,219 6,582,044
£ £
Market value
Broughtforward 6,582,044 5,175,837
Capital inflows 557,579 1,075,000
Capital outflows (407,579) (100,000)
Return on investment 217,649 215,908
Unrealised gains/ (losses) 76,848 228,647
Investment managementfees (15,322) (13,348)
Carried forward 7,011,219 6,582,044
13 Stocks
2025 2024
£ £
Stock for fuel 8,800 7,120
Goods for resale 27:351 24,866
36,151 31,986
14 Debtors
2025 2024
Amounts falling due within one year: £ £
School fees recoverable 24,526 25,972
Trade debtors 26,359 27,018
Amount owing from related party 1,158 502
Other debtors 96,109 147,873
148,152 201,365

-28-

KRISHNAMURTI FOUNDATION TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

15 Creditors: amounts falling due within one year

15 Creditors: amounts falling due within one year
2025 2024
£ £
Trade creditors 98,931 179,152
Taxes and social security 187,242 80,046
School fees in advance 859,368 782,379
Fee and textbook deposits 116,250 86,800
Other creditors and accruals 66,454 64,941
1,328,245 1,193,318
16 Deferred income
2025 2024
Deferred income is included in the financial statements as follows: £ £
Deferred income at 01 August 2024 800,656 981,394
Released from previous periods (791,699) (966,904)
Resources deferred income year 857,805 786,166
Deferred income at 31 July 2025 866,762 800,656
17 Provisions for liabilities and charges
2025 2024
£ £
Provision for staff leaving
Balance at 1 August 2024 76,519 87,545
Amounts used or reversed in theyear (76,519) (13,196)
Charge forthe year - 2,170
Balanceat31July2025 - 76,519

The trustees previously agreed that residential members with more than 3 years of service would be entitled to receive a lump sum equivalent to 5% of annual salary for each completed year, subject to a maximum service of 15 years. This scheme has been replaced with a pension scheme based on length of service, with initial payments made in the year. As a result, the provision has been released in the year.

18 Government grants

During the year the charity received government grants relating to heat incentives totalling £29,883 (2024: £29,168).

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 £272,144 (2024: £19,948).

-29-

| }

PA
;		 <=Dw
ole
528
=
7
E		 ” .
a]
£28
2S
ow
9
8
rr
es
2/2
oo
Nia
S
=
=
aoe
8
7
i”
o
i
:
_.
.		 .
a]
£28
2S
ow
9
8
rr
es
2/2
oo
Nia
S
=
=
aoe
8
7
i”
o
i
:
_.
.
,
a
.
S
5
s
:
oO
-		 ©
bod
1
©
8
one
3
N
oO
eee
2838
_
Oo
:		 :
Q
fo}
2
5
sc 99
o
=
$ $3
ae
:
2
$3
c
~
o@
fo)
cae
5
o
ow x
3
ea °®
ao
=>
53 28
a
s £3
:
Es
5
83
z
£8
-		 “
td		 en
——
or’
' Ss!
ee
:
-
~§
:
g
:
:
.
-
7:
moo i!
t
3°
8:
=
7
7
me
- Oo
!
oO
c
5
:
[S)		 >t
SES
B28
33
3
3		 ul ae)
223
835
~ 0
85
LXV
a)
oO oO
3
33398
ON
-		 8
8
2
i 8 .
=
SG
=<
:
5
3
<
3
6
E		 “ 8
ait
oa
25
gas
oo
ee
238
8
~
mera
&
©
“Ss
:
aw
s
a
,
§
c
o
2
A
D
<
=
g		 233
3 os
sf
2
o2@
- of
£
ow *
a		 * e 8
sea
©
cee
3
-
¢
zo
:
~
~S
e
o
wo		 :
:
a
:
a
4
Ww
5
EF
2
S
L_
i
=
2
—_l
e)
f=
O
no
~
>
”
x
&
4		 2
:
>
c
DB
2
E
Z
wo
sS
=
no}
E		 §
it
—
SES
S62
0 8
E$ -
He
pe
8 BS
esN
38
o<-
a		 530
(oa
rss.
N
a8
"
-
Ww
=
z
BS
oH
SN
EER)i?
a6?
8
Gat
>
<
tm
of
8
LL
z
<x
ra
—_
z
a
-
i
Ps
5
vu
&
Sig
Wy\
z\
Oo >
x=
7)
no =
Lu
&
—
w
~
x
<
fe)
[e)
Ww		 :
:
3
ne}
:
xs)
f
2
2
5
2
5
2
8
E
:
2
2
g
=
2
:
-_
2
5
i
5
so
=
s
ny
3°
68
=
OS
in)
‘ o
o
z
2
¢£
ke
°
N		 :
:
i
oO
i
3
a
i
$a
5
g 23
ai a
Zook
2
ase
28
i
tf
332,55 2252
aE
Aggtgsse
3
goo bssz23 5
38835335553
Z2835~3232
:
re52az3n
:
i

ra ,

5edseq
388
5S
a		 “
COS
sgl
:
:
ms
©
:		 “
COS
sgl
:
:
ms
©
:		 :
°
a
wl
$x
:aria
EF
i
$ 3
Ww
;
7)
33
2 83
238
cae
o
o xX
5”		 °
'
48
>
So DNA
2 P23
g
55
°o 9
E32		 w
=
t
:
8
-
2		 :
:
:
3		 :
oO
=
sey
o$58
Go
i
[sa]		 “
5
z
-		 :
é
;		 w
:
i
y
§
¢
5		 wa
wm i!
oO
.
.		 :
.
+		 :
Q
[o>]
£ -
g%3
¢ 83
223
= 38
£
ox
~a°		 °
ee
Qa Gf
w 3
as
5
<=
6
no ~—
2c
P4
ge
z> =e:
ow
&
3
i
]
- <>
=
<h3
E
rar
Zz5/?
oe
:
u aw
3
ae
eG
E
oe
 o
Ss fq
:
S=Fu
z
a
:
Zr Ww
3
=
ok
3
n
&
L
az
8
5
6
:
<
:
9
N		 ¢ 7!
ia
t
+
2
=ig
7
sag
ee
7
peg
2
3
&
_e
=
§
:
[
-
e
&
3
fii
He:
cs
x
vs
Za
5
:		 re)
:
s

KRISHNAMURTI FOUNDATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

20 Restricted and Endowed Funds (continued)

A description of the nature and purpose of the restricted funds is shown below:

Main School General - Smaller donations to be used for a specific/restricted 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 to 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 to be used for subtitling the videos of Krishnamurti JK Online - Donations to be used to pay for the cost of JKO website version 1 Alumni Bursary Fund - 25% donations restricted to bursary for Alumni children and 75% restricted to bursary in BP School Jean-Michel Bursary and Teacher Recruitment - Donations to be used for bursaries and teacher recruitment (Brockwood and Inwoods).

Elisabeth Fraser - Legacy to be used for bursaries and repairs to the school (Brockwood) Muriel Gill - Legacy to be used for financial support for those staying at the Krishnamurti Study Centre.

A description of the nature and purpose of the endowed funds is shown below:

Permanent Endowment - Permanent Endowment funds represent assets which must be held permanently by the charity. The fund balance comprises donations made to the permanent endowment fund, with any capital gains or losses arising on invested funds. Expendable Endowment — Expendable Endowment funds may be applied in promoting to the Objects of the charity in such manner as the Trustees see fit.

Transfers between classes of funds

Elisabeth Fraser The transfer of £66,666 relates to school fees covered by bursaries from this fund.

Jean-Michel Bursary and Teacher Recruitment

The transfer of £263,422 relates to school fees covered by bursaries and sponsorships from this fund.

Alumni Bursary

The transfer of £43,000 relates to the allocation of donations for bursaries at the Main School.

Permanent Endowment The transfer of £424,745 into the Permanent Endowment represents the transfer of donations received into the Foundation Designated fund during the year.

-32-

==> picture [512 x 700] intentionally omitted <==

----- Start of picture text -----
aeso "8gee:wm oO BY) iB; e282N= '13: ::
ua8=N BESSosOo©~ N© be¢:a ag°-Bee~ o“i| 3
o
7) .g°e9|g” @ ' 28§ 4
: Ne]- [N=] e .a e
2o ooS8S alea 813" <: ai“: |.
FE
Ssaos&”<n’)<< £ssc a segsaoeses = i | :‘;
2 98 TELEseenURBlOISaes ::
2 26 88 ,g
i
3egPs 4 3333om ©oO ontOo 5 &Bl i"@ _3 3SE :
Ps v + 8 8
ES Vee kas
oO a rs ° a.
co” .
ie = [oe] a8 i :
oo° ee) eg; B7 Sg5Seegs5
BRg& a2eS~ 8N 2. aio i: :
° : . :
o mo”=
ts)c 3 3
& o” FXSags a e| 8
og
SsEe} :©iy: al eTcooRgaesia}89/8ml ;i -.
“ 8&8Rees | - a |3
3 nos @ © in & 8=
2 g88 PELE a8)
> —e: 5c2 TEESEgees 7iS
= =& o3e 888258la| 2
=° 72“? aS '
1
° &€ oD i a 7
—~ 5s €¢ sar N;:© oO
EFaue F>2 =£awat28=eco”80 “ NBSsao§ B8 ie]8:; .©: iah:< _
E
=aE= 2Ooaad §”5 aexesN2oxoa r§of!SSYo8: coco: ! :S~ =Legegg°° |g} |
|5 P4”: =: B< rn : } }
3
oO
g
o—- HL<>=!S v72Ej:
<q F :
ao" 8
Sar ;hee
a :
i ) 3 o x=2
oe2 a
LL. g %\
: :\
= = = 3: : |\
:\
ow nm WwWa > sei
5 -wu 32 22§ Beosess § Bssibei3 :
Si /| 3
<q o ~ ae:2 geen & 283 2 5 :
Zern’) ~ 3o =: @sFeS888ss 929@ 0S BszeeseS5g s g3:
essgegs
ow & Ee ess2ieESB3 B 83223g223rea]SE58eS8 363 Eee@c
xr 5 & §= £
oO fe)
4 ing N
----- End of picture text -----*

,

a tw 3 3 3 i E 3885 5 Cc Sage : fe) geet =7”2 : ; | 3 co . —Oo g28 a ; i: ges B : et 33 3 ~ O ui : a no} . Bea_!g28: z=.'a ‘3 _:.4: EB&:Eso7& i : DUN wes § + sea"oSQ7 8232S535ge28|, a$3 z: 3o Besw . ii 5 7iy _ eaow lo”0 3ty] =3° Beesofa 2: '| &B8g B83ucH :a5 s| io Ss Ss=c&z i / a | 2 Oo KE oO i)i” : vesi: xe & : BOs - Lu 8N i; : > = | os! : Ee<x :— E:= :: iF:# :ao :2 ~: 3 :: i 1 2 Ssq &S| : 3 : 17iH: og - 3 3o E! :z: LLect= za4 PaBdfo}-7) &(s)<© 3888S5t¢ae. 5 nyfeet: <x Oo[-] n 2 offset fh ” Wu= =G a]S B35532332aesas osonogsi¢e wn”oO~ EWw ~ a BSR538 28oO Oo N - &z a: N

KRISHNAMURTI FOUNDATION TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

23 Contingent assets

There is inherent uncertainty in the probate valuation of estates as a result of the nature of underlying assets and liabilities, and the time that elapses between probate and closure of other contingencies that attend the estate. Legacies are recognised at the point of notification of grant of probate, when it can be measured or estimated with sufficient reliability.

At the year end, the charity was entitled to multiple legacies whose value could not be estimated with sufficient reliability to recognise in the year, in accordance with FRS 102 and the Charities’ SORP.

24

Contingent liabilities

Included within other creditors is a creditor for tax repayable on a legacy received gross of inheritance tax in 2019. This creditor has continued to be recognised since the gross legacy was originally received. The total balance repayable in relation to this amount is currently uncertain, due to the time elapsed from original receipt. As such, there is the possibility that the charity may incur additional costs relating to this balance, that cannot be estimated with any certainty at the balance sheet date.

25 ~—=Related party transactions

Donations from Trustees to the charity for various purposes amount to £9,078 (2024 - £293) throughout the year.

26 =‘Trustees’ liability insurance

An insurance policy exists, as part of the Charity’s normal insurance policy, indemnifying any insured individual for any wrongful act (as defined in the policy) in their capacity as a governor, management committee member, officer or employee.

27 ~+Cash generated from operations

~+Cash generated from operations 2025 2024
£ £
Surplus forthe year 268,110 1,985,617
Elimination ofnon-operating cashflows:
Investment income (217,650) (215,909)
Interest receivable (3,446) (3,647)
Financing costs 10,883 7,626
Investment management costs 15,322 13,348
Profit on disposal oftangible fixed assets - (602)
Adjustments for:
Depreciation and impairment oftangible fixed assets 288,224 298,246
Increase/(decrease) in provision (76,519) (11,026)
Fairvalue movementon investments (76,848) (228,646)
Donation of fixed assets - — (1,100,000)
Movements in working capital:
(Increase)/ decrease in stock (4,165) 1,786
(Increase)/ decrease in debtors 53,213 141,506
Increase/ (decrease) in creditors due within one year 134,927 (50,912)
Cash (absorbed by)/generated from operations 392,051 837,387
Analysis of changes in net debt
31 July 2024 Cash flows 31 July 2025
£ £ £
Cashatbankandinhand 265,236 (84,621) 180,615

28

-35-