A new registered charity has been established to carry on the work of Kids Company by the man due to take over as chair of the collapsed children's charity.

The new body, the 1-Up Foundation, has now been registered by the Charity Commission and filed documents with Companies House. Its trustees include hedge fund manager Stuart Roden (pictured) and celebrity hairdresser John Freida.

Roden and Frieda were involved in an attempted restructure at Kids Company earlier this summer and were understood to be among a group of philanthropists who were prepared to give Kids Company £3m as part of its rescue. Both were long-term major donors and Roden was expected to take over as chair. Since the collapse of Kids Company there have been several newspaper reports indicating that a new charity would be set up by Roden and Frieda.

Roden and Frieda are joined on the board of the new foundation by Thomas Bible, Nick Lawson, Simon Morris, Tatiana Amory and William de Winton.

None of Kids Company’s trustees are involved with the new charity, although Roden, Frieda, Lawson and de Winton had all been about to join the board of Kids Company before the charity collapsed.

Roden is a trustee of four charities, including Jewish Care; Lawson is a trustee of one other charity. Bible is a trustee of the Barrow Foundation UK and Amory gives her occupation as “charity manager”.

Former Kids Company chief executive Camila Batmanghelidjh is not believed to have any involvement with the new organisation.

A Charity Commission spokeswoman said: “Given the live concerns about aspects of the management of Kids Company, which we are currently investigating as part of a statutory inquiry, we assessed and considered the 1- Up Foundation’s application very carefully, both to ensure that the organisation meets the legal requirements of charity status, and to ensure the trustees fully understand and are capable of and committed to fulfilling their legal duties and responsibilities. Our investigation into Kids Company continues.”

The new charity’s objects include the “relief and assistance of children”. It will manage three programmes that were previously run by Kids Company. This includes the Treehouse project, which was supported by rock band Coldplay. In the wake of the charity’s collapse the band indicated that they wanted to rescue the project.

According to the Charity Commission the board is “in the process of assembling a team of experienced and qualified senior managers to take care of the charity’s day-to-day operations”. This will include a director for safeguarding who will report to the board on protecting vulnerable beneficiaries.

The Commission added: “We will be monitoring the charity, to ensure that it complies with its objects and charity law, and that its trustees are appropriately overseeing the charity’s governance and management.”

The address for the 1-Up Foundation has been given as that of the charity law firm Farrer & Co.