Notes to the financial statements5.5. Creditors falling due after one yearAs at 31 March 2024As at 31 March 2023£’000£’0004741,1684741,168Grants payableGrants payable comprises a number of grants to King’sCollege Hospital NHS Foundation Trust where theTrustees have committed to expenditure and costs areexpected to fall due in future years.As at 31 March 2024, grants payable falling dueafter more than one year included £349K relating torestricted funds (2023: £174K).5.6. Reconciliation of grants payable2023/242022/23£’000£’000At 1 April 20237,1556,228Grants awarded in the year2,5642,578(1,820)(1,629)(100)(22)7,7997,155Grants paid in the yearGrants cancelled in the year5.7. CommitmentsThe Charity had NIL commitments at 31 March 2024(2023: NIL) which do not yet satisfy all conditions forrecording as a grant payable.6. Related partytransactions7. SubsidiaryThe number of Trustees at 31 March 2024 was 12 (2023:ten). None of the Trustees received remuneration fortheir services to the Charity (2022/23: NIL) and noTrustees (2022/23: NIL) were reimbursed for costsnecessarily incurred on Charity business.A total of £6,153 (2023: £1,936) donations were madeto the Charity by individual Trustees. Indemnity coveris provided for Trustees by the Charity.The Charity provides the majority of its grants bynumber and value to the Trust (see Note 4.3). It alsoreceives services from King’s free of charge includingoffices and facilities management (see Note 3.1).King’s College Hospital Charity owns 100% of theissued ordinary shares of KCHC Trading Limited, acompany incorporated in England and Wales (companyregistration number 11881179). The principal activitiesof the subsidiary are to manage the trading activitiesof King’s College Hospital Charity. KCHC TradingLimited was dormant throughout the current year andprior year.8. Post balance sheet eventWe received confirmation on 23 April 2024 that ourGambling Commission application for lottery activityhad been approved.K I N G’ S CO L L E G E H O S P I TA L C H A R I T Y A N N UA L R E P O R T A N D F I N A N C I A L S TAT E M E N T S 2 0 2 3/ 2463
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