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← Dipex

2025-03-31-accounts

Registered number: 4178865 Charity number: 1087019

DIPEX

(A company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

DIPEX

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the charitable company, its Trustees and 1
advisers
Trustees' report 2 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 21

DIPEX

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025

Trustees Dr T McPherson
R E Gann (deceased 31 July 2025)
F A Stevenson
J R Marsden (resigned 27 November 2024)
A P Rein (resigned 16 April 2024)
D J Waller (appointed 5 December 2024)
S R Cohn (appointed 5 December 2024)
Company registered
number
4178865
Charity registered
number
1087019
Registered office
2 Communications Road
Greenham Business Park
Newbury
Berkshire
RG19 6AB
Principal operating
office
1 & 3 Kings Meadow
Osney Mead
Oxford
OX2 0DP
Chief executive officer
A Barnett
Accountants
James Cowper Kreston
Chartered Accountants
Greenham Business Park
Newbury
Berkshire
RG19 6AB
Bankers
HSBC Bank Plc
65 Cornmarket Street
Oxford
Oxfordshire
OX1 3HY

Page 1

DIPEX

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the financial statements of DIPEx (the charity) for the year ended 31 March 2025.

The Trustees confirm that the annual report and financial statements of the charity comply with the Charities Act 2011, the Companies Act 2006, the requirements of the governing documents and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Since the charity qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.

OBJECTIVES AND ACTIVITIES

Objectives and principal activities

The objects of the charity have not changed during the period under review and are, the advancement of education for the public benefit In the promotion of good health, and ln particular for the benefit of persons diagnosed with a disease by, but not limited to, the methodologies stated below:

  1. Creating a database of patients experiences of illness.

  2. Disseminating information to patients, health professionals and the general public.

  3. Participating in research (primarily evidence-based research) and publishing the useful results thereof to help patients make informed decisions about their healthcare.

  4. Promoting effective collaboration between patients and health professionals.

The Trustees have had regard to the Charity Commission's guidance on public benefit.

Achievements and performance

The year was negatively impacted by the charity’s main research partner changing the way they work which resulted in a reduction in the amount of work coming the charity’s way. The charity was also subject to a competing platform.

Further associated uncertainties resulted in slowing (or cessation) of ongoing research projects and held up our and partners’ progress with new applications. Several new projects arose from the societal impact of Covid. The Trustees continued to meet regularly both via video conference, and in person. Trustees received regular updates from the CEO reviewing all risk profiles and the effect on the business.

A summary of the charity's achievements for the year is as follows:

Page 2

DIPEX (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

FINANCIAL REVIEW

Income, expenditure and results

The outcome is a surplus for the year under review of £26,663 compared to a £103,051 deficit in the prior year. The reasons for this disappointing performance are as outlined in the above “Achievements and Performance” review.

The Trustees review the financial and cash position of the charity at every Trustees’ meeting, using a twelve months’ ahead cash flow forecast and up to date management accounts.

At the close of the year, it is clear that the change in direction from our main research partner means the charity faces an unseen future in terms of funding, with a projected income for the following financial year unlikely to meet needs. Having conducted a full review of the charity structure and operations, the Trustees propose to close the charity. The Trustees anticipate that the closure will be completed during 2026.

Reserves policy

The charity's policy is to try to maintain reserves at a level sufficient to cover any liabilities relating to all outstanding research modules “deferred income”, to support the development of the charity in areas such as website design and maintenance and support, marketing and management infrastructure and to guard against future contingencies.

Having assessed these factors, the Trustees have determined that the charity should hold, as a target, available unrestricted 'minimum' cash reserves of 12 months web expenditure and three months (prior year six months) of other operating expenditure. Reserves are underpinned by the available cash funds and by the value of the charity’s assets, including its receivables and website.

The level of available unrestricted reserves at 31 March 2025 was £42,983 (prior year £16,320) which sees the Charity fall well short of its reserves target.

Having conducted a full review of the charity structure and operations, the Trustees propose to close the charity. The Trustees anticipate that the closure will be completed during 2026.

Investment Policy

The charity's investment policy is to maintain all cash funds in current and deposit accounts, including fixed term accounts, with its appointed bankers.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is a registered charity, number 1087019, and was incorporated on 13 March 2001 as a company limited by guarantee. The charity is governed by its Memorandum and Articles of Association.

Appointment and training of Trustees

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. Trustees undergo an annual review with the Chair. The charity reviews periodically the skills and composition of the Board of Trustees so as to identify any skills gaps within the Board.

In the year under review Mr J Marsden resigned as both Trustee and Director. Mr R Gann died. Dr D Waller and Dr S Cohen were recruited as additional Trustees and Directors and were appointed at the Company’s Annual General Meeting. Two further Trustees were recruited but were unable to serve due to changes in their personal circumstances.

Page 3

DIPEX (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Newly appointed Trustees/ Directors received an induction including face-to-face training and information to support their effective performance as Trustees and Directors.

Succession planning remain in place for those Trustees who plan to retire or leave at the end of a fixed term, with a handover period established whenever possible.

Organisational structure

The overall responsibility for the charity rests with the Board of Trustees, who are also appointed as directors of the charitable company. The Board of Trustees tries to meet bi-monthly through the year to review the charity's strategy and operational performance and to agree operational plans and budgets.

The Board of Trustees delegates the authority of the day-to-day management of the charity to the Chief Executive Officer.

Remuneration for the Chief Executive Officer and other staff members is set by the Trustees having considered the remuneration in similar organisations and the financial position of the charity.

Risk Management

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity. Major risks are reviewed at every Trustees’ meeting, covering areas in Governance & Management, Operations, Finance, Environmental/External Factors and Compliance.

The charity is reliant on grant funding to researchers to enable them to publish their research into personal health experiences. Such grant funding has historically been received either directly by the charity or from universities in receipt of the research grant. In the past three years, sources of funding have diversified to include other health partnerships, consultancy and new social care collaborations.

The Trustees review historic income and forecast income on a quarterly basis, which covers a period of 12 months, upon which they determine the future level of affordable costs and required cash reserves. The Trustees also ensure that projects are adequately resourced before project initiation and verify that there are sufficient projects in hand to support the following year's activities.

The charity's financial policies provide full cash reconciliation of all income and expenses on a monthly basis and preparation of annual budgets, management accounts every two months and quarterly cash forecasts.

FUTURE PLANS

Having conducted a full review of the charity structure and operations, the Trustees propose to close the charity. The Trustees anticipate that the closure will be completed during 2026.

Acknowledgements

In addition to income derived from research modules and consultancy, DIPEx relies on donations and partnership revenues to support its work. Details of funding can be found on our websites on the credits page of each condition.

We acknowledge gratefully the support we have received from everyone in the past year, be it financial, through provision of information, membership of an advisory panel or general support from enthusiasts and friends. Our thanks go also to our Patrons and advisors and academic partners.

Page 4

DIPEX (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

TRUSTEES' RESPONSIBILITIES STATEMENT

The Trustees (who are also directors of DIPEx Limitedfor the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................

F A Stevenson (Trustee) Date: 2nd Feb 2026

Page 5

DIPEX (A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025

Independent Examiner's Report to the Trustees of DIPEX ('the charitable company')

I report to the charity Trustees on my examination of the accounts of the charitable company for the year ended 31 March 2025.

Responsibilities and Basis of Report

As the Trustees of the charitable company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charitable company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

This report is made solely to the charitable company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charitable company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable company and the charitable company's Trustees as a body, for my work or for this report.

Signed: Dated: 04 February 2026

Michael Bath BSc FCA DChA

James Cowper Kreston

Chartered Accountants Greenham Business Park Newbury Berkshire RG19 6AB

Page 6

DIPEX

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Note
Income from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Total income
Expenditure on:
Raising funds
Charitable activities
6
Total expenditure
Net income/(expenditure) before net losses on
investments
Impairment on investments
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
1,522
154,971
933
157,426
919
154,554
155,473
1,953
(1)
1,952
16,320
1,952
18,272		 Total
funds
2025
£
1,522
154,971
933
157,426
919
154,554
155,473
1,953
(1)
1,952
16,320
1,952
18,272		 Total
funds
2024
£
11,360
57,601
550
69,511
500
172,061
172,561
(103,050)
-
(103,050)
119,370
(103,050)
16,320

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 9 to 21 form part of these financial statements.

Page 7

DIPEX (A company limited by guarantee) REGISTERED NUMBER: 4178865

BALANCE SHEET AS AT 31 MARCH 2025

2025 2024 2024
Note £ £
Fixed assets
Intangible assets 11 - 38,830
Investments 12 - 1
- 38,831
Current assets
Debtors 13 4,637 55,328
Cash at bank and in hand 55,533 46,784
60,170 102,112
Creditors: amounts falling due within one
year 14 (41,898) (124,623)
Net current assets / liabilites 18,272 (22,511)
Total net assets 18,272 16,320
Charity funds
Unrestricted funds 15 18,272 16,320
Total funds 18,272 16,320

The charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................

F A Stevenson (Trustee) Date: 2nd Feb 2026

The notes on pages 9 to 21 form part of these financial statements.

Page 8

DIPEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. General information

The Charity is a company limited by guarantee. It is incorporated in the UK and registered in England and Wales. The members of the Company are the Trustees named on page 1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

DIPEX meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charitable company and which have not been designated for other purposes.

2.3 Going concern

The Trustees have confirmed that the Charity will close down within the next year and therefore these financial statements have not been prepared on a going concern basis. The adjustments necessary were to impair the intangible fixed assets from £24,710 down to £nil and to impair the fixed asset investment from £1 down to £nil.

2.4 Income

All income is recognised once the charitable company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Page 9

DIPEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.5 Government grants

Government grants, including Covid-19 related grants, are credited to the Statement of financial activities as the related expenditure is incurred.

2.6 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the charitable company to raise funds for its charitable purposes and includes costs of all fundraising activities events and noncharitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charitable company's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.7 Intangible assets and amortisation

Intangible assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Intangible assets are initially recognised at cost and are subsequently measured at cost net of amortisation and any provision for impairment. Intangible fixed assets are amortised over 3 years on a straight line basis.

2.8 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

2.9 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

2.10 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.11 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 10

DIPEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.12 Liabilities

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charitable company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.13 Financial instruments

The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2.14 Pensions

The Charity does not currently operate a pension scheme, but makes contributions to the personal pension scheme of staff members.

2.15 Critical accounting estimates and areas of judgment

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the Balance Sheet date and the amounts reported for income and expenditure during the year. However, the nature of the estimation means that actual outcomes could differ from those estimates. The critical judgement in these financial statements is that the charity has no realistic option but to close and wind-down its operations within 12 months from the date of approval of these financial statements, and therefore that the financial statements should not be prepared on a going concern basis.

Page 11

DIPEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

3. Income from donations and legacies

Unrestricted
funds
2025
£
Donations
1,522
Total 2024
11,360		 Total
funds
2025
£
1,522
11,360		 Total
funds
2024
£
11,360

4. Income from charitable activities

Unrestricted
funds
2025
£
Grant income
114,161
Income from subscriptions
1,822
Website development income
38,988
154,971
Total 2024
57,601		 Total
funds
2025
£
114,161
1,822
38,988
154,971
57,601		 Total
funds
2024
£
49,785
688
7,128
57,601

5. Income from other trading activities

Income from fundraising events

Unrestricted
funds
2025
£
Licensing
933
Total 2024
550		 Total
funds
2025
£
933
550		 Total
funds
2024
£
550

Page 12

DIPEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

6. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2025
£
Expenditure on charitable activities
154,554
Total 2024
172,061
Summary by expenditure type
Staff costs
2025
Depreciation
and
amortisation
2025
Other costs
2025
£
£
£
Expenditure on charitable
activities
86,785
14,120
53,649
Total 2024
138,808
3,530
29,723		 Total
2025
£
154,554
172,061
Total
2025
£
154,554
172,061		 Total
2024
£
172,061
Total
2024
£
172,061

7. Analysis of expenditure by activities

Expenditure on charitable activities
Total 2024		 Support
costs
2025
£
154,554
172,061		 Total
funds
2025
£
154,554
172,061		 Total
funds
2024
£
172,061

Page 13

DIPEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

7. Analysis of expenditure by activities (continued)

Analysis of support costs

Activities
2025
£
Staff costs
86,785
Depreciation and amortisation
14,120
Staff travel and training costs
1,030
IT costs
3,120
Website costs
3,923
Professional and consulting fees
1,259
Office costs
14,891
Impairment on intangible fixed asset
24,710
Governance costs
4,716
154,554
8.
Independent examiner's remuneration
Fees payable to the charitable company's independent examiner for the
independent examination of the charitable company's annual accounts
Fees payable to the charitable company's independent examiner in respect
of:
Fees payable for the preparation of the charitable company's annual
accounts
Fees payable in respect of other services not included above		 Total
funds
2025
£
86,785
14,120
1,030
3,120
3,923
1,259
14,891
24,710
4,716
154,554
2025
£
2,558
1,060
996		 Total
funds
2024
£
138,808
3,530
1,172
3,560
6,499
1,662
13,039
-
3,791
172,061
2024
£
2,492
1,030
996

Page 14

(A company limited by guarantee)

DIPEX

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9. Staff costs

Wages and salaries
Social security costs
Other pension costs		 2025
£
81,383
3,870
1,532
86,785		 2024
£
127,464
8,604
2,740
138,808

The average number of persons employed by the charitable company during the year was as follows:

2025 2024
No. No.
Employees 2 3

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2025 2024
No. No.
In the band £60,001 - £70,000 - 1

Key management personnel of the charity comprise the Trustees and the Chief Executive Officer. Total remuneration in respect of key management personnel for the year ended 31 March 2025 is £54,302 (2024: £76,345).

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).

During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL).

Page 15

DIPEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

11.
Intangible assets
Cost
At 1 April 2024
Impairments
At 31 March 2025
Amortisation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Website
development
£
42,360
(24,710)
17,650
3,530
14,120
17,650
-
38,830

The intangible asset has been impaired to £nil as a result of the Trustees' intention to close the Charity.

Page 16

(A company limited by guarantee)

DIPEX

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
12.
Fixed asset investments
Cost or valuation
At 1 April 2024
At 31 March 2025
Impairment
Charge for the year
At 31 March 2025
Net book value
At 31 March 2024		 Shares in
group
undertakings
£
1
1
1
1
1

The fixed asset investment has been impaired to £nil as a result of the Trustees' intention to close the Charity.

13. Debtors

Trade debtors
Prepayments and accrued income		 2025
£
-
4,637
4,637		 2024
£
50,923
4,405
55,328

Page 17

DIPEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

14. Creditors: Amounts falling due within one year

Trade creditors
Accruals
Other taxation and social security
Other creditors
Deferred income
Deferred income at 1 April 2024
Resources deferred during the year
Amounts released from previous periods		 2025
£
568
7,557
1,039
743
31,991
41,898
2025
£
110,442
3,240
(73,980)
39,702		 2024
£
546
9,348
3,631
656
110,442
124,623
2024
£
59,951
71,765
(21,274)
110,442

Deferred income consists of grant income for modules which were not fully completed at the year end and licence fee income for agreements extending past the year end.

Page 18

(A company limited by guarantee)

DIPEX

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15. Statement of funds

Statement of funds - current year

Balance at
Balance at 1 Gains/ 31 March
April 2024 Income Expenditure (Losses) 2025
£ £ £ £ £
Unrestricted funds
General Funds - all funds 16,320 157,426 (130,763) (24,711) 18,272
Statement of funds - prior year
Balance at
Balance at Gains/ 31 March
1 April 2023 Income Expenditure (Losses) 2024
£ £ £ £ £
Unrestricted funds
General Funds - all funds 119,370 69,511 (172,561) - 16,320

Page 19

(A company limited by guarantee)

DIPEX

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

16. Summary of funds

Summary of funds - current year

General funds Balance at 1
April 2024
£
16,320		 Income
£
157,426
Balance at
1 April 2023
£
119,370		 Expenditure
£
(130,763)
Income
£
69,511		 Gains/
(Losses)
£
(24,711)
Expenditure
£
(172,561)		 Balance at
31 March
2025
£
18,272
Balance at
31 March
2024
£
16,320
Summary of funds - prior year
General funds

17. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2025
£
Current assets
60,170
Creditors due within one year
(41,898)
Total
18,272		 Total
funds
2025
£
60,170
(41,898)
18,272

Page 20

DIPEX (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

17. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Intangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
38,830
1
102,112
(124,623)
16,320		 Total
funds
2024
£
38,830
1
102,112
(124,623)
16,320

18. Pension commitments

Pension contributions of £nil were unpaid as at 31 March 2025 (2024: £600).

19. Related party transactions

On 30 May 2013 Health Experiences International (previously Dipex International), Company Number 08550273 was incorporated. This is a charitable company limited by guarantee. DIPEx is a member of Health Experiences International and is liable to pay £1 if the charitable company is wound up.

During the year the Charity received £783 (2024: £1,565) from Health Experiences International in respect of services provided. At the year end there was £131 received from Health Experiences International (2024: £261) which appears within deferred income.

During the year the Charity paid £nil (2024: £500) to Health Experiences International in respect of annual membership fees.

Page 21

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the financial statements of DIPEx (the charity) for the year ended 31 March 2025.

The Trustees confirm that the annual report and financial statements of the charity comply with the Charities Act 2011, the Companies Act 2006, the requirements of the governing documents and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Since the charity qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.

OBJECTIVES AND ACTIVITIES

Objectives and principal activities

The objects of the charity are the advancement of education for the public benefit in the promotion of good health, and ln particular for the benefit of persons diagnosed with a disease by, but not limited to, the methodologies stated below:

  1. Creating a database of patients' experiences of illness.

  2. Disseminating information to patients, health professionals and the general public.

  3. Participating in research (primarily evidence-based research) and publishing the useful results thereof to help patients make informed decisions about their healthcare.

  4. Promoting effective collaboration between sufferers and health professionals.

The Trustees have had regard to the Charity Commission's guidance on public benefit.

Achievements and performance

The year was negatively impacted by the charity’s main research partner changing the way they work which

resulted in a reduction in the amount of work coming the charity’s way. The charity was also subject to a competing platform.

Further associated uncertainties resulted in slowing (or cessation) of ongoing research projects and held up our and partners’ progress with new applications. Several new projects arose from the societal impact of Covid. The Trustees continued to meet regularly both via video conference, and in person. Trustees received regular updates from the CEO reviewing all risk profiles and the effect on the business.

A summary of the charity's achievements for the year is as follows:

FINANCIAL REVIEW

Income, expenditure and results

The outcome is a surplus for the year under review of £19,734 compared to a £103,051 deficit in the prior year.

The reasons for this disappointing performance are as outlined in the above “Achievements and Performance” review.

The Trustees review the financial and cash position of the charity at every Trustees’ meeting, using a twelve months’ ahead cash flow forecast and up to date management accounts.

At the close of the year, it is clear that the change in direction from our main research partner means the charity faces an unseen future in terms of funding, with a projected income for the following financial year unlikely to meet needs. With this in mind, we see the charity as under a basis other than a going concern going into the 2025/26 financial year.

Reserves policy

The charity's policy is to try to maintain reserves at a level sufficient to cover any liabilities relating to all outstanding research modules “deferred income”, to support the development of the charity in areas such as website design and maintenance and support, marketing and management infrastructure and to guard against future contingencies.

Having assessed these factors, the Trustees have determined that the charity should hold, as a target, available unrestricted 'minimum' cash reserves of 12 months web expenditure and three months (prior year six months) of other operating expenditure. Reserves are underpinned by the available cash funds and by the value of the charity’s assets, including its receivables and website.

The level of available unrestricted reserves at 31 March 2025 was £36,053 (prior year £16,320) which sees the Charity fall well short of its reserves target.

With this in mind, we see the charity as under a basis other than a going concern going into the 2025/26 financial year.

Investment Policy

The charity's investment policy is to maintain all cash funds in current and deposit accounts, including fixed term accounts, with its appointed bankers.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is a registered charity, number 1087019, and was incorporated on 13 March 2001 as a company limited by guarantee. The charity is governed by its Memorandum and Articles of Association.

Appointment and training of Trustees

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. Trustees undergo an annual review with the Chair. The charity reviews periodically the skills and composition of the Board of Trustees so as to identify any skills gaps within the Board.

In the year under review Mr J Marsden resigned as both Trustee and Director. Mr R Gann died. Dr D Waller and Dr S Cohen were recruited as additional Trustees and Directors and were appointed at the Company’s Annual General Meeting. Two further Trustees were recruited but were unable to serve due to changes in their personal circumstances.

Newly appointed Trustees/ Directors received an induction including face-to-face training and information to support their effective performance as Trustees and Directors.

Succession planning reamin in place for those Trustees who plan to retire or leave at the end of a fixed term, with a handover period established whenever possible.

Organisational structure

The overall responsibility for the charity rests with the Board of Trustees, who are also appointed as directors of the charitable company. The Board of Trustees tries to meet bi-monthly through the year to review the charity's strategy and operational performance and to agree operational plans and budgets.

The Board of Trustees delegates the authority of the day-to-day management of the charity to the Chief Executive Officer.

Remuneration for the Chief Executive Officer and other staff members is set by the Trustees having considered the remuneration in similar organisations and the financial position of the charity.

Risk Management

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity. Major risks are reviewed at every Trustees’ meeting, covering areas in Governance & Management, Operations, Finance, Environmental/External Factors and Compliance.

The charity is reliant on grant funding to researchers to enable them to publish their research into personal health experiences. Such grant funding has historically been received either directly by the charity or from universities in receipt of the research grant. In the past three years, sources of funding have diversified to include other health partnerships, consultancy and new social care collaborations.

The Trustees review historic income and forecast income on a quarterly basis, which covers a period of 12 months, upon which they determine the future level of affordable costs and required cash reserves. The Trustees also ensure that projects are adequately resourced before project initiation and verify that there are sufficient projects in hand to support the following year's activities.

The charity's financial policies provide full cash reconciliation of all income and expenses on a monthly basis and preparation of annual budgets, management accounts every two months and quarterly cash forecasts.

FUTURE PLANS

Due to the changes in circumstances outlined above we see the charity as under a basis other than a going concern going into the 2025/26 financial year.

Acknowledgements

In addition to income derived from research modules and consultancy, DIPEx relies on donations and partnership revenues to support its work. Details of funding can be found on our websites on the credits page of each condition.

We acknowledge gratefully the support we have received from everyone in the past year, be it financial, through provision of information, membership of an advisory panel or general support from enthusiasts and friends. Our thanks go also to our Patrons and advisors and academic partners.

TRUSTEES' RESPONSIBILITIES STATEMENT

The Trustees (who are also directors of DIPEx Limitedfor the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act

  1. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

F Stevenson

Date: 22[nd] January 2026

Registered number: 4178865 Charity number: 1087019

DIPEX

(A company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

DIPEX

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the charitable company, its Trustees and 1
advisers
Trustees' report 2 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 21

DIPEX

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025

Trustees Dr T McPherson
R E Gann (deceased 31 July 2025)
F A Stevenson
J R Marsden (resigned 27 November 2024)
A P Rein (resigned 16 April 2024)
D J Waller (appointed 5 December 2024)
S R Cohn (appointed 5 December 2024)
Company registered
number
4178865
Charity registered
number
1087019
Registered office
2 Communications Road
Greenham Business Park
Newbury
Berkshire
RG19 6AB
Principal operating
office
1 & 3 Kings Meadow
Osney Mead
Oxford
OX2 0DP
Chief executive officer
A Barnett
Accountants
James Cowper Kreston
Chartered Accountants
Greenham Business Park
Newbury
Berkshire
RG19 6AB
Bankers
HSBC Bank Plc
65 Cornmarket Street
Oxford
Oxfordshire
OX1 3HY

Page 1

DIPEX

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the financial statements of DIPEx (the charity) for the year ended 31 March 2025.

The Trustees confirm that the annual report and financial statements of the charity comply with the Charities Act 2011, the Companies Act 2006, the requirements of the governing documents and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Since the charity qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.

OBJECTIVES AND ACTIVITIES

Objectives and principal activities

The objects of the charity have not changed during the period under review and are, the advancement of education for the public benefit In the promotion of good health, and ln particular for the benefit of persons diagnosed with a disease by, but not limited to, the methodologies stated below:

  1. Creating a database of patients experiences of illness.

  2. Disseminating information to patients, health professionals and the general public.

  3. Participating in research (primarily evidence-based research) and publishing the useful results thereof to help patients make informed decisions about their healthcare.

  4. Promoting effective collaboration between patients and health professionals.

The Trustees have had regard to the Charity Commission's guidance on public benefit.

Achievements and performance

The year was negatively impacted by the charity’s main research partner changing the way they work which resulted in a reduction in the amount of work coming the charity’s way. The charity was also subject to a competing platform.

Further associated uncertainties resulted in slowing (or cessation) of ongoing research projects and held up our and partners’ progress with new applications. Several new projects arose from the societal impact of Covid. The Trustees continued to meet regularly both via video conference, and in person. Trustees received regular updates from the CEO reviewing all risk profiles and the effect on the business.

A summary of the charity's achievements for the year is as follows:

Page 2

DIPEX (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

FINANCIAL REVIEW

Income, expenditure and results

The outcome is a surplus for the year under review of £26,663 compared to a £103,051 deficit in the prior year. The reasons for this disappointing performance are as outlined in the above “Achievements and Performance” review.

The Trustees review the financial and cash position of the charity at every Trustees’ meeting, using a twelve months’ ahead cash flow forecast and up to date management accounts.

At the close of the year, it is clear that the change in direction from our main research partner means the charity faces an unseen future in terms of funding, with a projected income for the following financial year unlikely to meet needs. Having conducted a full review of the charity structure and operations, the Trustees propose to close the charity. The Trustees anticipate that the closure will be completed during 2026.

Reserves policy

The charity's policy is to try to maintain reserves at a level sufficient to cover any liabilities relating to all outstanding research modules “deferred income”, to support the development of the charity in areas such as website design and maintenance and support, marketing and management infrastructure and to guard against future contingencies.

Having assessed these factors, the Trustees have determined that the charity should hold, as a target, available unrestricted 'minimum' cash reserves of 12 months web expenditure and three months (prior year six months) of other operating expenditure. Reserves are underpinned by the available cash funds and by the value of the charity’s assets, including its receivables and website.

The level of available unrestricted reserves at 31 March 2025 was £42,983 (prior year £16,320) which sees the Charity fall well short of its reserves target.

Having conducted a full review of the charity structure and operations, the Trustees propose to close the charity. The Trustees anticipate that the closure will be completed during 2026.

Investment Policy

The charity's investment policy is to maintain all cash funds in current and deposit accounts, including fixed term accounts, with its appointed bankers.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is a registered charity, number 1087019, and was incorporated on 13 March 2001 as a company limited by guarantee. The charity is governed by its Memorandum and Articles of Association.

Appointment and training of Trustees

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. Trustees undergo an annual review with the Chair. The charity reviews periodically the skills and composition of the Board of Trustees so as to identify any skills gaps within the Board.

In the year under review Mr J Marsden resigned as both Trustee and Director. Mr R Gann died. Dr D Waller and Dr S Cohen were recruited as additional Trustees and Directors and were appointed at the Company’s Annual General Meeting. Two further Trustees were recruited but were unable to serve due to changes in their personal circumstances.

Page 3

DIPEX (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Newly appointed Trustees/ Directors received an induction including face-to-face training and information to support their effective performance as Trustees and Directors.

Succession planning remain in place for those Trustees who plan to retire or leave at the end of a fixed term, with a handover period established whenever possible.

Organisational structure

The overall responsibility for the charity rests with the Board of Trustees, who are also appointed as directors of the charitable company. The Board of Trustees tries to meet bi-monthly through the year to review the charity's strategy and operational performance and to agree operational plans and budgets.

The Board of Trustees delegates the authority of the day-to-day management of the charity to the Chief Executive Officer.

Remuneration for the Chief Executive Officer and other staff members is set by the Trustees having considered the remuneration in similar organisations and the financial position of the charity.

Risk Management

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity. Major risks are reviewed at every Trustees’ meeting, covering areas in Governance & Management, Operations, Finance, Environmental/External Factors and Compliance.

The charity is reliant on grant funding to researchers to enable them to publish their research into personal health experiences. Such grant funding has historically been received either directly by the charity or from universities in receipt of the research grant. In the past three years, sources of funding have diversified to include other health partnerships, consultancy and new social care collaborations.

The Trustees review historic income and forecast income on a quarterly basis, which covers a period of 12 months, upon which they determine the future level of affordable costs and required cash reserves. The Trustees also ensure that projects are adequately resourced before project initiation and verify that there are sufficient projects in hand to support the following year's activities.

The charity's financial policies provide full cash reconciliation of all income and expenses on a monthly basis and preparation of annual budgets, management accounts every two months and quarterly cash forecasts.

FUTURE PLANS

Having conducted a full review of the charity structure and operations, the Trustees propose to close the charity. The Trustees anticipate that the closure will be completed during 2026.

Acknowledgements

In addition to income derived from research modules and consultancy, DIPEx relies on donations and partnership revenues to support its work. Details of funding can be found on our websites on the credits page of each condition.

We acknowledge gratefully the support we have received from everyone in the past year, be it financial, through provision of information, membership of an advisory panel or general support from enthusiasts and friends. Our thanks go also to our Patrons and advisors and academic partners.

Page 4

DIPEX (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

TRUSTEES' RESPONSIBILITIES STATEMENT

The Trustees (who are also directors of DIPEx Limitedfor the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................

F A Stevenson (Trustee) Date: 2nd Feb 2026

Page 5

DIPEX (A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025

Independent Examiner's Report to the Trustees of DIPEX ('the charitable company')

I report to the charity Trustees on my examination of the accounts of the charitable company for the year ended 31 March 2025.

Responsibilities and Basis of Report

As the Trustees of the charitable company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charitable company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

This report is made solely to the charitable company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charitable company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable company and the charitable company's Trustees as a body, for my work or for this report.

Signed: Dated: 04 February 2026

Michael Bath BSc FCA DChA

James Cowper Kreston

Chartered Accountants Greenham Business Park Newbury Berkshire RG19 6AB

Page 6

DIPEX

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Note
Income from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Total income
Expenditure on:
Raising funds
Charitable activities
6
Total expenditure
Net income/(expenditure) before net losses on
investments
Impairment on investments
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
1,522
154,971
933
157,426
919
154,554
155,473
1,953
(1)
1,952
16,320
1,952
18,272		 Total
funds
2025
£
1,522
154,971
933
157,426
919
154,554
155,473
1,953
(1)
1,952
16,320
1,952
18,272		 Total
funds
2024
£
11,360
57,601
550
69,511
500
172,061
172,561
(103,050)
-
(103,050)
119,370
(103,050)
16,320

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 9 to 21 form part of these financial statements.

Page 7

DIPEX (A company limited by guarantee) REGISTERED NUMBER: 4178865

BALANCE SHEET AS AT 31 MARCH 2025

2025 2024 2024
Note £ £
Fixed assets
Intangible assets 11 - 38,830
Investments 12 - 1
- 38,831
Current assets
Debtors 13 4,637 55,328
Cash at bank and in hand 55,533 46,784
60,170 102,112
Creditors: amounts falling due within one
year 14 (41,898) (124,623)
Net current assets / liabilites 18,272 (22,511)
Total net assets 18,272 16,320
Charity funds
Unrestricted funds 15 18,272 16,320
Total funds 18,272 16,320

The charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................

F A Stevenson (Trustee) Date: 2nd Feb 2026

The notes on pages 9 to 21 form part of these financial statements.

Page 8

DIPEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. General information

The Charity is a company limited by guarantee. It is incorporated in the UK and registered in England and Wales. The members of the Company are the Trustees named on page 1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

DIPEX meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charitable company and which have not been designated for other purposes.

2.3 Going concern

The Trustees have confirmed that the Charity will close down within the next year and therefore these financial statements have not been prepared on a going concern basis. The adjustments necessary were to impair the intangible fixed assets from £24,710 down to £nil and to impair the fixed asset investment from £1 down to £nil.

2.4 Income

All income is recognised once the charitable company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Page 9

DIPEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.5 Government grants

Government grants, including Covid-19 related grants, are credited to the Statement of financial activities as the related expenditure is incurred.

2.6 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the charitable company to raise funds for its charitable purposes and includes costs of all fundraising activities events and noncharitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charitable company's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.7 Intangible assets and amortisation

Intangible assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Intangible assets are initially recognised at cost and are subsequently measured at cost net of amortisation and any provision for impairment. Intangible fixed assets are amortised over 3 years on a straight line basis.

2.8 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

2.9 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

2.10 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.11 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 10

DIPEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.12 Liabilities

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charitable company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.13 Financial instruments

The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2.14 Pensions

The Charity does not currently operate a pension scheme, but makes contributions to the personal pension scheme of staff members.

2.15 Critical accounting estimates and areas of judgment

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the Balance Sheet date and the amounts reported for income and expenditure during the year. However, the nature of the estimation means that actual outcomes could differ from those estimates. The critical judgement in these financial statements is that the charity has no realistic option but to close and wind-down its operations within 12 months from the date of approval of these financial statements, and therefore that the financial statements should not be prepared on a going concern basis.

Page 11

DIPEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

3. Income from donations and legacies

Unrestricted
funds
2025
£
Donations
1,522
Total 2024
11,360		 Total
funds
2025
£
1,522
11,360		 Total
funds
2024
£
11,360

4. Income from charitable activities

Unrestricted
funds
2025
£
Grant income
114,161
Income from subscriptions
1,822
Website development income
38,988
154,971
Total 2024
57,601		 Total
funds
2025
£
114,161
1,822
38,988
154,971
57,601		 Total
funds
2024
£
49,785
688
7,128
57,601

5. Income from other trading activities

Income from fundraising events

Unrestricted
funds
2025
£
Licensing
933
Total 2024
550		 Total
funds
2025
£
933
550		 Total
funds
2024
£
550

Page 12

DIPEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

6. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2025
£
Expenditure on charitable activities
154,554
Total 2024
172,061
Summary by expenditure type
Staff costs
2025
Depreciation
and
amortisation
2025
Other costs
2025
£
£
£
Expenditure on charitable
activities
86,785
14,120
53,649
Total 2024
138,808
3,530
29,723		 Total
2025
£
154,554
172,061
Total
2025
£
154,554
172,061		 Total
2024
£
172,061
Total
2024
£
172,061

7. Analysis of expenditure by activities

Expenditure on charitable activities
Total 2024		 Support
costs
2025
£
154,554
172,061		 Total
funds
2025
£
154,554
172,061		 Total
funds
2024
£
172,061

Page 13

DIPEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

7. Analysis of expenditure by activities (continued)

Analysis of support costs

Activities
2025
£
Staff costs
86,785
Depreciation and amortisation
14,120
Staff travel and training costs
1,030
IT costs
3,120
Website costs
3,923
Professional and consulting fees
1,259
Office costs
14,891
Impairment on intangible fixed asset
24,710
Governance costs
4,716
154,554
8.
Independent examiner's remuneration
Fees payable to the charitable company's independent examiner for the
independent examination of the charitable company's annual accounts
Fees payable to the charitable company's independent examiner in respect
of:
Fees payable for the preparation of the charitable company's annual
accounts
Fees payable in respect of other services not included above		 Total
funds
2025
£
86,785
14,120
1,030
3,120
3,923
1,259
14,891
24,710
4,716
154,554
2025
£
2,558
1,060
996		 Total
funds
2024
£
138,808
3,530
1,172
3,560
6,499
1,662
13,039
-
3,791
172,061
2024
£
2,492
1,030
996

Page 14

(A company limited by guarantee)

DIPEX

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9. Staff costs

Wages and salaries
Social security costs
Other pension costs		 2025
£
81,383
3,870
1,532
86,785		 2024
£
127,464
8,604
2,740
138,808

The average number of persons employed by the charitable company during the year was as follows:

2025 2024
No. No.
Employees 2 3

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2025 2024
No. No.
In the band £60,001 - £70,000 - 1

Key management personnel of the charity comprise the Trustees and the Chief Executive Officer. Total remuneration in respect of key management personnel for the year ended 31 March 2025 is £54,302 (2024: £76,345).

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).

During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL).

Page 15

DIPEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

11.
Intangible assets
Cost
At 1 April 2024
Impairments
At 31 March 2025
Amortisation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Website
development
£
42,360
(24,710)
17,650
3,530
14,120
17,650
-
38,830

The intangible asset has been impaired to £nil as a result of the Trustees' intention to close the Charity.

Page 16

(A company limited by guarantee)

DIPEX

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
12.
Fixed asset investments
Cost or valuation
At 1 April 2024
At 31 March 2025
Impairment
Charge for the year
At 31 March 2025
Net book value
At 31 March 2024		 Shares in
group
undertakings
£
1
1
1
1
1

The fixed asset investment has been impaired to £nil as a result of the Trustees' intention to close the Charity.

13. Debtors

Trade debtors
Prepayments and accrued income		 2025
£
-
4,637
4,637		 2024
£
50,923
4,405
55,328

Page 17

DIPEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

14. Creditors: Amounts falling due within one year

Trade creditors
Accruals
Other taxation and social security
Other creditors
Deferred income
Deferred income at 1 April 2024
Resources deferred during the year
Amounts released from previous periods		 2025
£
568
7,557
1,039
743
31,991
41,898
2025
£
110,442
3,240
(73,980)
39,702		 2024
£
546
9,348
3,631
656
110,442
124,623
2024
£
59,951
71,765
(21,274)
110,442

Deferred income consists of grant income for modules which were not fully completed at the year end and licence fee income for agreements extending past the year end.

Page 18

(A company limited by guarantee)

DIPEX

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15. Statement of funds

Statement of funds - current year

Balance at
Balance at 1 Gains/ 31 March
April 2024 Income Expenditure (Losses) 2025
£ £ £ £ £
Unrestricted funds
General Funds - all funds 16,320 157,426 (130,763) (24,711) 18,272
Statement of funds - prior year
Balance at
Balance at Gains/ 31 March
1 April 2023 Income Expenditure (Losses) 2024
£ £ £ £ £
Unrestricted funds
General Funds - all funds 119,370 69,511 (172,561) - 16,320

Page 19

(A company limited by guarantee)

DIPEX

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

16. Summary of funds

Summary of funds - current year

General funds Balance at 1
April 2024
£
16,320		 Income
£
157,426
Balance at
1 April 2023
£
119,370		 Expenditure
£
(130,763)
Income
£
69,511		 Gains/
(Losses)
£
(24,711)
Expenditure
£
(172,561)		 Balance at
31 March
2025
£
18,272
Balance at
31 March
2024
£
16,320
Summary of funds - prior year
General funds

17. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2025
£
Current assets
60,170
Creditors due within one year
(41,898)
Total
18,272		 Total
funds
2025
£
60,170
(41,898)
18,272

Page 20

DIPEX (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

17. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Intangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
38,830
1
102,112
(124,623)
16,320		 Total
funds
2024
£
38,830
1
102,112
(124,623)
16,320

18. Pension commitments

Pension contributions of £nil were unpaid as at 31 March 2025 (2024: £600).

19. Related party transactions

On 30 May 2013 Health Experiences International (previously Dipex International), Company Number 08550273 was incorporated. This is a charitable company limited by guarantee. DIPEx is a member of Health Experiences International and is liable to pay £1 if the charitable company is wound up.

During the year the Charity received £783 (2024: £1,565) from Health Experiences International in respect of services provided. At the year end there was £131 received from Health Experiences International (2024: £261) which appears within deferred income.

During the year the Charity paid £nil (2024: £500) to Health Experiences International in respect of annual membership fees.

Page 21