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35,847 claims
Communication costs were apportioned based on the average headcount of various departments during the year.
2 Communication costs have been apportioned based on average headcount of the various departments during the year.
Operational · Procedural statement · From The King's Fund — annual report and accounts, year ending 31 December 2025, page 68
Facilities costs were apportioned based on the average headcount of various departments during the year.
1 Facilities costs have been apportioned based on average headcount of the various departments during the year.
Operational · Procedural statement · From The King's Fund — annual report and accounts, year ending 31 December 2025, page 68
The King's Fund has a contract with the Department of Health and Social Care to provide rapid research support.
During 2025, we worked on seven projects under the call-off contract that we have in partnership with the University of York, for rapid research to support DHSC’s policy needs.
Commissioning · Policy statement · From The King's Fund — annual report and accounts, year ending 31 December 2025, page 64
The King's Fund expects no further contributions to the pension scheme in the year ending December 2026.
The King’s Fund expects no further contributions to be made to the Plan in the year ending 31 December 2026 due to the closure of the scheme to future accruals.
Financial · Commitment statement
The King's Fund Staff Pension and Life Assurance Plan has no active members as of December 2025.
The scheme closed for employee and employer contribution on 31 May 2024 so as at 31 December 2025 there were no active members (2024: nil).
Operational · Policy statement · From The King's Fund — annual report and accounts, year ending 31 December 2025, page 61
The King's Fund has a long-term loan from MetLife to enhance its investments.
A 30-year loan was taken out on 14 May 2021 to enhance the long-term value of The King’s Fund’s investments and has been invested in line with the strategic asset allocation.
Financial · Funding statement · From The King's Fund — annual report and accounts, year ending 31 December 2025, page 60
The King's Fund had no capital commitments as of December 31, 2025.
As at 31 December 2025, The King’s Fund had no capital commitments (2024: nil).
Financial · Observational claim · From The King's Fund — annual report and accounts, year ending 31 December 2025, page 56
The King's Fund had an increase in income from other trading activities in 2025 compared to 2024.
Income from other trading activities comprises: External conference and catering services 3,474 3,331 Income from sponsorship and partnership 627 674 Income from tenants 663 571 Income from non-charitable consultancy 40 31 4,804 4,607
Financial · Trend statement · From The King's Fund — annual report and accounts, year ending 31 December 2025, page 54
The King's Fund has unrestricted funds that can be spent at the discretion of the Trustees.
Unrestricted funds: unrestricted funds include the net book value of the tangible fixed assets, the intangible fixed assets of the charity, investments and net current assets, less the pension reserve. The split between these categories is shown in note 19. The King’s Fund has the power to spend its unrestricted funds within its objects as it sees fit.
Financial · Policy statement · From The King's Fund — annual report and accounts, year ending 31 December 2025, page 52
The King's Fund does not pay corporation tax due to charity exemptions.
No corporation tax is payable by The King’s Fund as it is able to make use of the tax exemptions on income and capital gains available to charities.
Financial · Policy statement · From The King's Fund — annual report and accounts, year ending 31 December 2025, page 52
The King's Fund has a defined benefit pension scheme liability that is not currently recognized as an asset.
Where the scheme is determined to be in a surplus position, a surplus is recognised as an asset only to the extent that this can be recovered in future years through reductions in employer contributions or through a specific refund/reimbursement from the scheme
Financial · Policy statement · From The King's Fund — annual report and accounts, year ending 31 December 2025, page 49
The King's Fund uses the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) for its financial reporting.
This departure has involved following Accounting and Reporting by charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
Financial · Policy statement · From The King's Fund — annual report and accounts, year ending 31 December 2025, page 48
The King's Fund conducts an audit to ensure compliance with laws and regulations.
Audit procedures performed by the engagement team included: – discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud
Governance · Procedural statement · From The King's Fund — annual report and accounts, year ending 31 December 2025, page 44
The King's Fund maintains its independence through diverse funding sources and robust policy arrangements.
Our funding comes from a diverse range of sources, protecting us against dependence on any particular source of income. As a charitable foundation, we have an endowment – funds maintained and invested since we were established in 1897 – which generates an annual income.
Governance · Policy statement · From The King's Fund — annual report and accounts, year ending 31 December 2025, page 33
The King's Fund ensures its strategic focus and prioritisation by developing a new strategy with high visibility and engagement.
We have developed our new strategy with a high level of visibility and engagement with staff and stakeholders. We review our strategic focus through our operational planning approach to enable a short-term (as well as long-term) view of overall activities and responsiveness to change.
Strategic · Procedural statement · From The King's Fund — annual report and accounts, year ending 31 December 2025, page 31
The King's Fund conducts an annual review of its Board's performance.
The Board usually reviews its performance annually. Trustees consider the Board’s balance of skills, experience and knowledge, its diversity in the widest sense, how the Board works together and other factors relevant to its effectiveness.
Governance · Procedural statement · From The King's Fund — annual report and accounts, year ending 31 December 2025, page 28
The King's Fund aims to maintain the long-term value of its investment capital in real terms.
We budget for operating deficits, which are set at a level with a view to maintaining the long-term value of the investment capital in real terms.
Financial · Policy statement · From The King's Fund — annual report and accounts, year ending 31 December 2025, page 22
The King's Fund experienced a higher operating deficit of £7.3 million in the year ending December 2025.
This deficit was higher than in 2024 due to decreased income generation and additional organisational restructuring costs.
Financial · Observational claim · From The King's Fund — annual report and accounts, year ending 31 December 2025, page 22
Total income of The King's Fund decreased to £13.3 million in the year ending December 2025.
T otal income decreased in the year to £13.3 million (£13.8 million in 2024),
Financial · Observational claim · From The King's Fund — annual report and accounts, year ending 31 December 2025, page 22
The King's Fund introduced a cashback plan for staff wellbeing in November 2025.
We introduced SimplyHealth in November 2025. This is a cashback plan for all staff, which has been received well.
Service · Observational claim · From The King's Fund — annual report and accounts, year ending 31 December 2025, page 21