REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 6 APRIL 2024 TO 31 MARCH 2025 FOR THE BORIS KARLOFF CHARITABLE FOUNDATION Or¢om Civvals Limited Accountants 50 Seymour Street IA)ndon WIH 7JG
THE BORIS KARLOFF CHARITABLE FOUNDATION CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 6APRIL 2024 TO 31 MARCH 2025 Page Report of the Tru8te88 I to 4 Independent Exanjiner's Report Statement of Flnancial Activities Balanee Sheet Note8 to the Financial Statements 8 ts) 12 Detailed Statement of Finan¢ial Activities 13
THE BORIS TtARLOFF CHARITABLE FOUNDATION REPORT OF THE TRUSTEES FOR THE PERIOD 6 APRIL 2024 TO 31 MARCH 2025 The trustees present their report with the finallcial stat£ments of the charity for the period 6 April 2024 to 31 March 2025. The trustees have adopted the Provision8 of Accounting and Reporting by Charities: Statement of Recommended Practice applicable ts) clwities prepJxing their accounts in accordance with the Financial Reporting Standard appli¢able in the UK and Repub]ic of Ireland (lIS 102) (effective I January 2019). OBJECTIVES AND ACTIvrrIES Policies and objectives The principal object and purpose of the Clwity, a8 per it8 governing documen( 18 for the benefit of such exclusively charitable objects and purpose8 as the Tru8tees in their absolute discretion think fit. The Trustees 8Je empowered to pay or apply income and capitsl of the Charity for the benefit of such charitable objects a8 the Trustee8 decide. Activities undertaken to achieve and to further the Charity's purposes The activities undertaken in relation to the purpo8e8 of the Charity, as per its governing document, are as follows: The Chlty provides grants to other charitable organisation8 Who focus is upon 8UPPOrting young people in the area8 of the performing arts and cricket in airordance with the wishes of the Evelyn Karloff the widow of Boris Karloff thus supporting the well being and development of the skills of youug people in these areas Statement on public benefit In setting objectives and planning for current 8nd future activities, the Trustees have given due ¢on8ideration to general guidance published by the Charity Conunission relating to public benefit, including the guidance 'Publie benefit: running a charity PB2)'. Page I
THE BORIS KARLOFF CHARITABLE FOUNDATION REPORT OF THE TRUSTEES FOR THE PERIOD 6 APRIL 2024 TO 31 MARCH 2025 ACHIEVEMENTS AND PERFORMANCE Charitable activities The Charity received around loo application8 for donations and grant8 all of which received the prop8r consideration of the trustees. In the view of the income of the charity the tru8tees were able to make grants to about one third of applicants.with 870/¢* of grants being made to charities involved with young people in the perforniiug arts aa 130h to tb08e involved in cricket Grants made enabled orgallisations involved with variou8 performing arts to extend their Scope to benefit a greater nutnber of participants, thereby broadening the reach of the work of th08e organisations, including, in Some cases, tbose operating in areas of soeial deprivation or where acce88 public perfOrnnCeS of theatre and music, including choral music, 18 80mewhat restricted because of geographical factors. A8 ill previous year$, grants were made to help individual drama students, from disadvantaged backgrounds continue their education. Sin]ilarly, grant8 were ade enabling children and youug people who would otherwi8e not have bad sueh opportunities to attend and experience live theatrical and musical performances, and in some ease8, partieipate in these. Grants also enabled Small theatre Companies to run outreaeh projects and performances ill 8choo18, and in one ca8e, a hospital, thereby encouraging and fostering an appreciation of, as well as in some ca8es, an involvement of 8¢hool-age children and young people in the performing arts. Buddillg writers, composers, direetors, and theatre technician$ were also supported at a time when the availability of public funding to support the development of their talent is becoming increa8ingly 8carce. The development of young cricketers continued to be supported by funding a we8k'8 residential coaching eourse in Sussex for young people from inner Indon. And for a second year, funding wa8 given to 8UPPOrt a Caribbean ericket festival in South Devon, an aim of which is to strengthen communities. Aud finally, other grants were given to local cricket clubs to prode coaching, equipment and facilities for young boys and giTI8. Investment pèrfornvance The Trustees have very wide ranging investment powers under the Trust deed and they have appointed Investec Wealth & Investment Limitsd ( now Rathbone8 ) to act as fund manager8 upon their behalf. The large part of the Charities fund is held by them on an advisory basis and a small part of the fuud is invested with COIF Property Fund with the tTUStee8 monitoring the investment performance of both funds. FINANCIAL REVIEW Flnancfial revlew During the year the Charity received total income of £93,054 (2024 - £100,510). The majority of thi8 came from the Charity'$ income from investments which totalled £92,186 (2024 £99,737)). The remainder of the income eame £rom Bank intere8t reeèivable of £868 (2024 - £778). Total expenditure for the year was £101,924 (2024 - £108,920). Of thi8 the Charity provided Grallt8 to institution8 total]ing £75,908 (2024 - £72,848). Investment management CO8ts totalled £21,755 (2024 £20,119) whilst othèr Support Costs totalled £4,261 (2024 .£15.953). A breakdown of the8e costs can be 8een in the Statement of Financial Activities. The net expenditure for the year before investment gains and 108ges was £8,870 (2024 - net expenditure £8,410), During the year the Charity's investments recorded a revaluation gain of £80,431 (2024 - net gain of £121,846) resulting in an overall llet gain after investment gain8 of £71,561 (2024 net gain of £112,936). Page 2
THE BORIS KARLOFF CHARITABLE FOUNDATION REPORT OF THE TRUSTEES FOR THE PERIOD 6 APRIL 2024 TO 31 MARCH 2025 FINANCIAL REVIEW Reserves policy The Charity 18 a grant making Charity and its income generating a$$ets are held as investments and cash d8po$its. The Trustees apply the income derived tl)rough giving grants to charitable bodie8. It is the Trustees, policy to utili8e all income arising* although in any given year a surplus or deficit may ari8e and the size of any $urplus or deficit will vary according to the timing of grant payments. The Tru8tee8 will always retain in the Charities bank account 8ufficient reserves to Cover any expen8e8 for the following year The General fund has been e8tablished to recoÉni8e all ineonle and expenditure in respect of activities undertaken by the Charity outside the Endowment fund. At the year end, the balance held in this fund amounted to £118,760 (2024 - £100,875). The Endowment fund 18 expendable in nature, and 18 considered to consist of the value of the inVeste]ts, including the capital bank aecount. Where lleces8ary funds are transferred to the Unrestricted fund to support the grant giving. At the year end, the balance held in the endowment fund amounted to £3,249,707 (2024 - £3,191,031). Going concern After making appropriate enquiries, the Trustees have a reasonable expectatitsn that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this rea80ll, they eontillue ts) adopt the going concern basi8 in preparing the f]nancial statements. Purther details regarding the adoption of the going concern ba$18 can be found in the accounting policies. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its goven)ing document, a deed of trust and con8titute8 an unincorporated charity. Charity constitution A Deed of Settlement dated 18 June 1985 establi8hed thi$ Charitable Trust. On l June 1993 Mr8 E Karloff died and under the terms of her will, the re8idue of her e8tate was bequeathed ts the Trustees. The Charity is regi8terèd with the Charity ComEnis8ion (Charity registration number 326898) in England and Wa]e8. The Deed empower8 the Trustees to rètain the capital and pay or 'apply' the income. However it al$0 allows the Tru8tee8 the option 0£ spending 'the whole or such part or parts of the capital of the Trust Fund a8 the Trustees in their absolute di8¢retion think fit" Methods of appointment or election of tru8tee8 The management of the Foundation is the re8ponsibi]ity of the Trustees who are elected and co-opted under the terms of the Trust deed. The power of appointing new Trustee8 18 vested in the Tru8tee8. Risk management The Trustees bave assessed the major risks to which the Charity is exposed, in particular t}se related to the operatiolls and finances of the Charityi and are $ati8fied that systems and procedure8 are in place to mitigate exposure to the major risk8. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 326898 Page 3
THE BORIS KARLOFF CHARITAB7,F FOUNDATION REPORT OF THE TRUSTEES FOR THE PERIOD 6 APRIL 2024 TO 21 MARCH 2025 Prineipal address CIO Orcom Civval8 Limited 50 Seymour Street )ndon WIH 7JG Trustees L P Adam8 (appointed 1111112024) M Russell (appointed 1111112024) IRFord M8 N Comerford Independent Examiner Orcom Civvals Limited Accountants 50 Seymour Street ndon WIH 7JG Approved by order of the board of tru8tee8 on 22 January 2026 and signed on its behalf by: I R Ford - Tru8tee Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BORIS KARLOFF CHARITABLE FOUNDATION Independent examiner's report to the trustees of The Boris Karloff Charitable Foundation I report ts> the clwity trustees on my examination of the accounts of The Boris I<arlotY Charitable Foundation (the Trust) for the period 6 April 2024 to 31 March 2025. Responsibilities and basis of report As the charity tTUStee8 of the Trust you are responsible for the preparation of the accounts in accordanee with the requirements of the chltieS Act 2011 ethe Act?. I report in respect of my examination of tbe Tru8t'8 accounts carried out under Section 145 of the Act and in earrying out my examination I have followed all app]ieable Directions given by the Charity Comn)i88ion under Section 145(5)0)) of the Act. Independent examipJ6r's statement I have completed my examination. I confirm that no material matters have come to my attention in Connection with the examination giving me cause trj be]ieve that in any material respect: accounting records were not kept in respect of the Trust as required by Section 130 of the Act. or the accounts do not accord with those records. or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charitie6 (Aecounts and Reports) Regulations 2008 other than any requirement that the ac(*unts give a true and fair view which is not a matter considered as part of an independent examillation. I have no concerns and have come across no other lltter6 in connection with the examination to which attentloll should be drawn ill this report in order to enable a proper understanding of the accounts to be reached. M Gibbon8 MBE FCA Oreom Civvals Iimited Accountsnts 50 Seymour Street lrt)ndon WIH 7JG 22 January 2026 Page 5
THE BORIS KARLOFF CHARITABLE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE PBRIOD 6 APRIL 2024 TO 31 MARCH 2025 Period 614124 to 3113125 Total funds Year ended 24 Total Unrestricted Endowment fund fund Note8 INCOME AND END0s FROM Inve8tment income 93,054 98,054 100,510 EXPENDITURE ON Charitable activities Grants Payable 75,908 75.908 72,848 Other 4,261 21,755 26,016 36,072 Total 80,169 21,755 101,924 108.920 Net gaills on inve8tment8 80.431 80,431 121,846 NET INCOME 1{885 58,676 71,661 112,936 RECONCILIATION OF FUNDS Total fund6 brougbt forward 100,875 3,191,031 3,291,906 3,178,970 TrAL FUNDS CARRIED FORWARD 113,760 8.249,707 8,363.467 3,291,906 The note8 form part of these financial statements Page 6
THE BORIS KARLOFF CHARITABLE FOUNDATION BALANCE SHEET 31 MARCH 2025 2025 Total funds 2024 Total fund8 Unre6tricted Endowment fund £ulld Notss FIXED ASSETS Inve8tments 8,214,719 3814,719 3, 139,385 CURRENT ASSETS Debtors Cash at bank 18.588 99,386 (16,028) 52,266 2.555 151,652 18,583 140,744 117,969 36,238 154,207 159,327 CREDITORS Amounts falling due within one year <4,209) (1,250) (5,459) (6,806) NET CURRBNT ASSETS 113.760 34.988 148,748 152,521 TOTAL ASSETS LESS CURRENT 113,760 3,249,707 3,363,467 3,291,906 NET ASSETS 113.760 3,249,707 8,363,467 8,291,906 FUNDS Unrestrictcd funds Endowment fulld8 113.760 8349,707 100.875 3,191,031 TOTAL FUNDS 3,363,467 3,291,906 The financial statements were approved by the Board of Trustees and authorised for i88ue on 22 January 2026 And were signed on its beIlf by: I R Ford - Trustee The notes form part of these fmancial 8tatement8 Page 7
THE BORIS KARLOFF CHARITABLE FOUNDATION NOTES TO THB FINANCIAL sTATEmEs FOR THE PERIOD 6 APRIL 2024 TO 81 MARCH 2025 ACCOUNTING POLICIES Basis 0£ preparing the financial Statennts The financial statements of the elkarity, which i8 a pub]ic benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charitie8 preparing their account8 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective l J8Uary 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in tbe UK alld Republic of Ireland, and the Ch8Jities Act 2011. The financial 8tatements have beell prepared under the historical cost convention, with the eXptiOn of inve8tment8 which are included at market value, as modified by the revaluation of certain a88ets. Income All income is recognised in the Statement of FSllancial Activitie8 once the Charity has entitlement to the funds, it is probable that the ineonle will be received and the VAmount can be measured reliably. Expenditure Liabilities are recogni8ed as expenditure a8 won a8 there 18 a legal or constructive obligation committing the ChltY to Lhat expenditure, it 18 probable that a tran8fer of economic benefits will be required in Settlement and the amount of the obligation can be measured reliably. Expenditure 18 accounted for on an acerua18 basis and has been cla88ified under headings that aggregate all cost related to the category. Where c08ts canjjot be directly attributsd to partieular heading8 thèy have been allocated to activitie8 on a ba818 consistent with the use of re80UTce8. Grant8 offered 8ubject to conditions which have not been met at the year end date are noted a8 a commitment but not accrued as expenditure. Taxation Thè elwity 18 exempt from tax on its charitable activitie8. Fund aeeounting Unr88tricted fund8 can be used in accordance with the cbaritable objective8 at the di8cretion of the tru8tee8. Re8trictsd fulld8 can only be u8ed for particular re8tricted purpose8 Within the objeets of the charity. Re8triction8 ari8e when 8pecified by the donor or when funds are raised for particular restricted purp08e8. Further explanation of the nature and purp08e of each fund is included in the notss to the financial 8tatements. Page 8 continued...
THE BORIS KARI,OFF CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 6 APRIL 2024 TO 31 MARCH 2025 INVESTMENT INCOME Period 614124 Year ended 514124 8113125 Dividend8 and interest from inve8tments Interest receivable - trading 92.186 868 99,787 773 93,054 100,510 TRUSTEES, REMUNERATION AND BENEFITS There were no trustse8' remuneration or other benefits for the period ended 31 March 2025 nor £or tbe year ended 5 April 2024. Trustees, expenses There were no trustees, expen8es paid for the period ended 31 DAtarch 2025 nor for the year ended 5 April 2024. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unre8tricted Endowment fund fund Total funds INCOME AND ENDOWMENTS FROM InveBtmerkt income 100,510 100,510 EXPENDrruRE ON Charitable activities Grants Payable 72,848 72,848 Other 15,953 20,119 38,072 Total 88,801 20,119 108,920 Net gain8 on inve8tmellts 121,346 121,346 NET INCOME 11,709 101,227 112,936 RECONCILIATION OF FUNDS Total fund8 brought forward 89,166 3,089,804 3,178,970 TOTAL FUNDS CARRIED FORWARD 100,875 3,191,081 3,291,906 Page 9 continued...
THE BORIS KARLOFF CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 6 APRIL 2024 TO 31 MARCH 2025 FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At 6 April 2024 Additions Di8posal8 Revaluation8 3,139,385 485,948 {45759} 46,645 At 31 March 2025 3,214,719 NET BOOK VALUE At 31 2025 3,214,719 At S April 2024 3,139,385 There were no investment a88ets outside tbe UIL C08t or valuation at 31 March 2025 18 repre8entsd by: Listed investments Vgluation in 2025 3,214,719 DEBTORS.. AMOUNSE FALLING DUE WITHIN ONE YEAR 2025 2024 Prepayment8 2,555 18,583 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Other ¢reditor8 5.459 6,806 MOVEMENT IN FUNDS Net ovement in funds At 3113125 At 614124 Unrestri¢ted funds General 100,875 12,885 113.760 Endowmént fund8 Endowment Funds 3,191,031 58,676 3,249,707 TOTAL FUNDS 3,291,906 71,561 3,363,467 Page 10 continued...
THE BORIS KARLOFF CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE PERIOD 6 APRIL 2024 TO 31 MARCH 2025 MOVEME IN FUNDS - eontinued Net movement in fund8, included in the above are as follows: Incoming re80urces Resources expended Gains 2nd Movement losses in funds Unrestricted funds General fund 98,054 {80,169) 12,885 Endowment ndS Endowment Fund8 (21,755) 80.431 5&676 TOTAL FUNDS 93,054 {101.924) 80,431 71,561 Comparatives for movement in funds Net movement in funds At 514124 At 614123 Unrestricted funds General fund 89,166 11,709 l(K),875 Endowment ndS Endowment Funds 3,089,804 101,227 3,191,031 TOTAL FUNDS 3,178,970 112,936 3,291,906 Comparative net movement in fund8, included in the PAbove are as follows: Incoming re80urces Re80urces expended Gains and Movement 1088es in funds Unrestricted funds General fund 100,510 (88,801) 11,709 Endowment funds Endowment Fund8 (20,119) 121,346 101,227 TOTAL FUNDS 100,510 (108,920) 121,346 112.936 Page 11 continued...
THE BORIS KARLOFF CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 6APRIL 2024 TO 31 IWiCH 2025 RELATED PARTY DISCLOSURES There were no related party transaction8 for the period ended 31 March 2025. Page 12
THE BORIS KARLOFF CHARITABLE FOUNDATION DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 6 APRIL 2024 TO 31 MARCH 2025 Period 614124 Year ended 514124 3113125 INCOME AND ENDOWMENTS Investment income Dividends and interest from investments Interest receivable - trading 94186 868 99,737 773 93,054 100.510 Total incoming re80urc8S 93.054 100,510 EXPENDITURE Charfitable aetivities Grant8 to in8titution8 75,908 72,848 Support C08t8 Finance Bank cltsiges Investment management charge8 508 21,755 506 20,119 22,263 20,625 Governance costs Ac¢ountaney gJ]d legal fee8 3,753 15,447 Total resources expended 101,924 108,920 Net expenditure before gains and losses {8,870) (8,410) Realised recogni8ed galns and losse8 Realised gaiu810068es) on fed a8set inve8tments 80.481 121,346 Net Income 71,561 112,936 Thi8 page does not form part of the statutory financial Statements Page 13