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 Ch￿lty 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 a￿a 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 perfOrn￿nCeS 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 I￿ndon. 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 pro￿de 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 inVest￿e]￿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