Docusign Envelope ID.. 810D7212-83C449AA-BDA6-29A0754BCAC1
Company Registration Number: 05303176
Charity Number.. 1107671
The Nicholls Spinal Injury Foundatlon
IA company limitod by guarantee, not having a share capital)
Annual Report and Unaudited Financial Statements
for the financial year ended 31 December 2024
Harris & Co
2 Pavilion Court
600 Pavilion Drive
Northampton
Northamptonshire
NN4 7SL
GB

tle¢usign EnVal0￿ ID.. 810D7212-83C449AA-BDA6-29A0754BCAC1
The Nicholls Spinal Injury Foundation
IA company limited by guarantee, not having a share capital)
CONTENTS
Page
Reference and Administrative Information
Trustees, Annual Report
statement of Trustees, Responsibilities
Independent Examinerfs Report
Statement of Financial Activities
Balance Sheet
10
Notes to the Financial Statements

Docusign Envelope ID.. 810D7212-83C449AA-BDA6-29A0754BCAC1
The Nicholls Spinal Injury Foundation
IA company Ilmlted by guarantee, not having a share eapltall
REFERENCE AND ADMINISTRATIVE INFORMATION
Trustees
David Nicholls
Frederick Watt
John Warren
Piers Adam
Alistair Stor8y OBE
Dr Bobby Prasad
Hamid Nejad
Charlty Number In England and Wales
1107671
Company Règlstration Numbor
05303176
Reglstered Offl¢e and Prlnclpal Address
27 Old Gloucesl8r Street
London
WC1N 3AX
United Klngdom
Independent Examlner
Harris & Co
2 Pavilion Court
600 Pavilion Drive
Northampton
Northamplonshire
NN4 7SL
GB

Docusign Envelope ID.. 810D7212-83C449AA-BDA6-29A0754BCAC1
The Nicholls Spinal Injury Foundation
IA company limited by guarantee. not having a share capltall
TRUSTEES. ANNUAL REPORT
for the financial year ended 31 December 2024
The Iruslees present their Trustees, Annual Report. combining the Directors. Report and Trustees. Report, and the
unaudited financi81 slalemenls for the financial year ended 310ecernber 2024.
The financial stat9mgnts ar8 pr8pared in accordance with the Companies Act 2006, FRS 102 "The Financial
Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities..
statement of Recommended Practice applicable to charities preparing Ihelr financial statements in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021.
The Trustees, Report contains the information required lo be provided in the Trustees, Annual R8POrt under the
Statement of Recommended Practice {SORP) guidellnos. The Iruslees of the charity are also charity Iruslees for the
purpos8 of charity law and under the charity's constitution are known as members of th8 board of trustees.
In this report the Iruslees of The Nicholls Spinal Injury Foundation present a summary of ils purpose, governance,
a¢tivitios, achievements and finances for the financial year 31 December 2024.
The ¢harity is a registered charity and hence the report and results are presented In a fomi which ￿mplieS with the
requirem8nts of the Companies Act 2006 and, although not obliged lo comply with the Statement of Recommend8d
Practice appllcable In the UK and Republic of Ireland FRS 102, the organisalion has Implemented ils
recommendations where relevant in these financial statements.
Mlsslon, Objectlves and Strategy
Mlsslon Statement
nsif s objectives are..
To fund research and development into finding a cure for paralysis from spinal cord injury ISCII, covering the
laboratory, clinical and rehabilitation stages.
To advance education by promoting and supporting r8search into th8 tr8atm8nl of spinal inluries and disease, and
the publication of the results of such research.
The charity's 2024 fundraising strategy locused on Its event portfolio, in¢rea$lng dlgltal and legacy fundraising
opportunities and strengthening relationships with donors and external stakeholders. Despite ongoing economic
challenges, nsif maintained strong supporter engagement and reinforced ils r6pulalion a$ a leading lunder of spinal
ord injury research.
The Trustees have ¢omplied with their duty to have due r8gard lo the Charity Commission guidance on publ1¢ benefit.
They considèr that nsifs objèctivès and aclivili&s arè a cl6ar indication of public banefil.
ObJe¢tlvès
nsif remains commilled to the OEC Transplanlalion Project at University College London IUCLI, led by Professor Ying
Li. A grant of £223,326 was agreed lo cover the period from 1 November 2023 10 1 November 2024, supporting
research Into cell therapy and18ying the foundation for a UK clinical trial. They made a commitment lo supporting a
three year programme ol research from 1 November 2024 to move towards human clinical trials in the UK.
The charity's reserves are allocated for this sole purpose, with no new grant applications b8ing considered at present.
Structure. Governance and Management
Structure
The Nicholls Spinal Injury Foundation is a company limited by guarantee governed by its Memorandum and Articles of
Association dated 2 December 2004.11 was registered as a charity on 18 January 2005.

Docusign Envelop& ID.. 810D7212-83C449AA-BDA6-29A0754BCAC1
The Nicholls Spinal Injury Foundation
IA Company limited by guarantee, not havlng a share ¢apitall
TRUSTEES, ANNUAL REPORT
for the financial year andad 31 December 2024
Cornposltlon of the Board and Board Appolntment Process
Trustees are appointed for an initial five-year term, renewable upon review. New candidates are consid8rgd based on
professional experience, awareness of spinal cord Injuries, and commitment to the charity's oblectlves.
Trustees receive a slruclured induction focused on governance responsibilities, spinal cord injury awareness, and key
research initiatives.
Commlttèes of the Board and Terms of Reference
The Board of Trustees provided strategic and operational support throughout 2024. The charity is overseen by
management team and meets regulady lo ensure 81ignmenl and continuity. Trustees bring expertise in finance,
healthcare, communications, hospilalily, av6nts and livèd experience of spinal injury.
R•vi•w of A¢tiviti•s, Achievgmgnts and Performance
Charitable activities
UCL- OEC Transplanlalion Project
In 2024, UCL made considerable progress in developing protocols for human mucosal cell culture and banking. Two
nèw Ilssue samples were successfully received and cultured using high-yield methods, with images collected for
analysis. C8lls wer9 fixed for immunoslaining and quality checks. and work contlnues to source additional antibodies
for more accurate identification of OECS.
Full NHS ethics approval was secured for collecting human olfactory bulbs from UK donors, a major regulatory
milestone. An application was submitted to loin the NHS RINGTAG tISSU8 harvesting group to enable domestic
sample coll8ction.
In vlvo sludles demonstrated that banked ral mucosal cells could r8Stor8 lost function in experlmenlal models,
aligning with prèvious rèsults using banked bulb cells. These findings were published in a peer-ffjviewed journal and
strengthen the case for future human trials.
Future acl5vilies
Trustees continue lo engage Int8rnationally, including with Professor Mohamad Bydon at the Mayo Cllnlc.
FUNDRAISING ACTIVITIES
Fundralsing efforts in 2024 remalned complSant wllh the Fundralslng Regulator's Cod8 of Pracllce. No formal
complaints were made, and no external fundraising companies were employed.
The Annual Charity Golf Tournament, held in ils eighleenlh year, was the charity's most su¢¢essfvl lo dale - raising
over £150,000 and honouring the late Jennlfer Shah. an nsif Patron, who had instigated the event. Highlights included
a Champagne Reception, Gala Dinner, a Wesl End cabaret perfomiance, and auctions hosted by Chadie Ross.
Th8 Clay Pigeon Flush, a cherished event, was regrettably cancelled due lo loglsllcal challeng8s bul Is planned for
return in 2025.
A fantastic team from the Mandarin Orlenlal. comprlslng Torsten Van Dullemen, Lionel Lacheze, Suzanna Di
Domenico, Brough Downey, Michelle Matthews, Jamie Pagan, Tibor N8gy, Francesco Culcasi and Camille Lemmery,
raised almost £10,000 for nsif during the UK'S biggest 24-hour relay race.
Community engagement remained strong. with notable efforts by the Hull & East Riding Branch, led by Angela and
John Pye, and supporters participating in national races including the Great North Run and Yorkshire 10 Miler.
colle¢lively raising thousands in donations and Gift Aid.
Fundraising was conducted transparently and witho￿1 Ltndue pressure.
In the summer of 2024 Claire Lomas, MBE died in an accident overseas. Claire was a significant fund-raiser for nsif
since her SCI and the charity remembers her enthusiasm, dedication lo raising funds for a cure and her engaging and
beautiful nature. Her family and friends have continued to raise funds in her name to achieve the £1 m legacy to SCI
charities.

Docusign Env8ltspa ID.. 810D721243C449AA.BDA6.29A0754BCAC1
The Nicholls Spinal Injury Foundation
IA company limited by guarantee, not having a share capital)
TRUSTEES. ANNUAL REPORT
for th8 financial year 8nd8d 31 December 2024
Financial Review
In 2024, nsif raised over £243,000 Ihrou9h events, auctions, and individual donations. This included subslanlial
ontributions from the Golf Day and related fundraising.
Despite the contlnuing cost-of-llvlng crlsls. the charity's financial position remains robust. Reserves are allocated lo
research projects and carefully managed across multiple banking inslilulions to diversify risk and maximise returns.
Trustees continue lo monitor financial performance closely lo ensure long-lerm suslainabilily.
Flnanclal Results
Al the end of the financial year the charity has assets of £913,40712023 - £840.2421 and liabilities of £85,14912023 -
£87,349). The nel assets of the charily have increased by £75,365.
Reserves Position and Policy
The Trustees have eslablished a reserves poll¢y focused on malntalning adequate worklng capital and supporting the
charity's grant commitments. This policy allows the charity lo continue pursuing its objectives during periods of
economic uncertainly.
As at 31 December 2024, nsif held reserves of £828,257, sufficient lo support operations and planned grants over the
next three years,
Prln¢lpal RSsks and Uncertalntles
Risk management remains central to all activity. Trustees maintain a Risk Management Register. conduct bi-annual
revlews, and implement control procedures lo address emerging risks, The Gharily continues lo adapt lo the
competitive fundraising landscape and challenges facing small Charities,
Trustee$
The trustees who served throughout the financial year, except as noted, were as follows..
David Nicholls
Frederick Wall
John Warren
Pi8rs Adam
Alistair Slorey OBE
Dr Bobby Prasad
Hamid Nejad
Compllance wlth Sector-wldè Lèglslatlon and Standards
The charity engages pro-actively with legislation, standards and codes which aré déveloped for the sector. The
Nicholls Spinal Injury Foundation subscribes lo and is compliant wilh Ihe following..
The Companies Act 2006
The Charities SORP IFRS 1021
Approvod by the Board of Trustees on
912412025
and slgned on Its behalf by:
D¢cuSWJMd by..
DoauSlgn•d by..
av
Trustee
Trustee

Docusign Envelop8 ID.. 810D7212-83C449AA.80A6-29A0754BCAC1
The Nicholls Spinal Injury Foundation
IA company limited by guarantee, not having a share capitsll
STATEMENT OF TRUSTEES, RESPONSIBILITIES
for the financial year ended 31 December 2024
The trustees. who are also directors of The Nicholls Spinal Injury Foundation for the purposes of company law, are
responsible for preparing the financial statements in accordance with 8pplicable law and regulations.
Company law requires the Iruslees as the directors to preparg financial slalemanls fof each financial y8ar. Under that
law the Iruslees have elected to prepare the financial statements in accordance with United Kingdom Genèrally
Accepted Accounting Practice {Uniled Kingdom Accounting Standards and applicable lawl including FRS 102 "The
Financial Reporting Standard applicable in the UK and R8public of Ireland" Section 1A (Small Entities). Under
company law the trustees musl not approve the financial slalemenls unless they are $81Ssfied that they give a Irue and
fair view of the slate of affairs of the company and of th8 surplus or deficit of th8 company for that P8riod.
In preparing ih8S8 financial statements, the trustees are required lo..
select suitable accounting policies and 8pply them consislenlly..
make judgements and eslimales that are reasonable and prudent.,
state whether the financial slalemenls have been prepared in accordance with the relevant financial reporting
framework. identify those standards, and note the effect and the reasons for any material departure from those
standards.. and
prepare the financial statements on the going concem basis unlass it is inappropriate to presume that the charity
wlll contlnu8 In operation.
The Iruslees confirm that they have complied wllh the above requlremenls in preparlng the financial slalemenls.
The trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the
charity's transactions and disclose with reasonable accuracy al any time the financial position of the charity and
enable them lo ensure that the financial slalements comply with the Companies Act 2006. They ara also responsible
for safeguarding the assets of the charity and hence for taking reasonable steps lor the prevention and doteelion of
fraud and other Irregularities.
912412025
Approv•d by the Board of Trustees on
and $igngd on Its behalf by:
DecuS*Md tsy..
D￿u9￿Ded by..
Q-I MdaLs
Frederick Watt
Trustee
Trusteé

Docusign Enveltspe ID.. 810D721243C449AA-BDA6-29A0754BCAC1
The Nicholls Spinal Injury Foundation
IA company limited by guarantee, not having 8 share capital)
INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES
OF THE NICHOLLS SPINAL INJURY FOUNDATION
Vve have 8xamined the financlal statements of the charity for the financial year ended 31 December 2024, which
comprise the Statement of Financial Activities (incorporating an Income and Expenditure Account), the Balance Sheet
and the related notes.
This report is made solely lo the charitys members, as a body, in accordance with Chapter 3 of Part 16 of the
Companies Act 2006. Our work has been undertaken so that we might compile the financial statements that we have
been engaged to compile. report to the Board of Truslees that we have done so, and slate those mallers that we have
agr88d lo slate lo them in this report and for no other purpose. To the fulSesl exlenl permitted by law, we do not
accept or assume responslbilily to anyone other than the charity and the charity's memb8rs, as a body, for our wort¢.
or for this report.
Respectlve responslbllitlos of trustogs and gxaminor
The charity's trustees (who are also the directors gf the Company for the purposes of company law) are responslble
for the preparation of the financial slalemenls in accordance with the requirements of the Cornpanies Act 2006. The
charity's trustees consider that an audit is not required for this financial year under Chapter 3 of Part 16 of the
Companies Act 2006 and that an independent examination is required.
11 Is our responsibility to..
examine the financial slalements under section 145 of th8 Act.,
follow the procedures laid down by the general Directions givèn by th8 Charity Commission und&r section 145151
of the Charities Act 2011., and
slate whether particular mallers have come to our allenlion.
Basls of independent examiner's report
Our examination was carried out in accordance with the general Dlreclions given by the Charity Commission. An
examination includes 8 review of the aocounting records kept by the charity and a comparison of the financial
statements presented with those records. 1181s0 includes consideration of any unusual items or disclosures in the
financial statements and seeklng explanations from the Iruslees concerning any such matters. The procedures
undertaken do not provide all the evidence that would be required in an audil and ¢onsequenlly no opinion is given as
to whether the accounts present a 'lrue and falr, vlew and the report is limited lo those mallers sèl out In the
statement below.
Indopondont axamlno¢9 statoment
In connection with our ex8min81ion, no mgtt8r has come to our attention which gives us cause to believe th8t in. any
material respect..
8cGounting records were not kept In a¢¢ordance wlth section 386 of the Companies Act 2006
the financial statements do not accord with those accounting records
the financial statements do not comply with the accounting requirements of the Charities Act
Ihe financial stalgmenls have not been prepared in ac¢ordan¢e with the accounting requirements of section 396 of
the Companies Act 2006 and with the methods and principles of the 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 IFRS1021
ther8 is further information needed for
per understandlng of the a¢¢ounls lo be reached,
We have no Goncerns and h
me across no other mallers in conneGlion with the examination to which attention
should be drawn in this
rt in order to enable a proper underslandlng of the flnanclal statements lo be reached.
HARRIS & CO
2 Pavilion Court
600 Pavilion Drive
Northampton
Northamptonshire
NN4 7SL
GB
Date:

Do¢usign Envelope ID.. 810D721243C449AA-gDA6.29A0754BCAC1
The Nicholls Spinal Injury Foundation
IA company limited by guarantee, not having a share capltall
STATEMENT OF FINANCIAL ACTIVITIES
Ilncorporatin9 an Income and Expenditure Accounti
for the financial year ended 31 December 2024
Unrestrlcted Rostrlctèd
Funds
Funds
2024
2024
Total Unrestricted Reslricled
Funds
Funds
Funds
2024
2023
2023
Total
Funds
2023
Notes
Income
Donations 8nd18g8cieg
Othér trading activities
Other income
65.453
167,974
18.075
10.401
75,854
167,974
18,075
19,851
209,161
12,309
16,461
36,312
209,161
12,309
Total Incomè
251.502
10.401
261,903
241,321
16,461
257,782
Expendituro
Raising funds
Charitable activities
115,016
71,516
115,016
71,522
134,763
116,989
134.763
133.618
16,629
Total Expondltur•
186,532
186.538
251.752
16,629
268,381
Net Incomellexpendlture)
64.970
10,395
75,365
110,4311
1168} {10,599}
Transfers between funds
Net movement In funds for
the flnancial year
64,970
10,395
75,365
110,431)
11681 110,5991
Reconclliatlon of funds:
Total funds beginning of the
y8ar
14
752,792
101
752,893
763,223
269
763,492
Total funds at the end of
the year
817,762
10,496
828,258
752,792
101
752,893
The Slalemenl of Financial Activities includes all gains and losses recognised in the financial year.
All income and expenditure relalo lo continuing activities.
The notes on pages 11 to 16 form part of the financial statements

Docusign Envelope ID.. 810D7212-83C449AA-BDA6-29A0754BCAC1
The Nicholls Spinal Injury Foundation
IA company limited by guarantee, not having a share capStall
Company Number: 05303176
BALANCE SHEET
as at 31 December 2024
2024
2023
Notes
Flxed Assets
Tangible assets
Investments
391
100
10
100
100
491
Current Assets
Debtors
Cash al bank and in hand
11
673
912,634
35,973
803,778
913,307
839,751
Creditors: Amounts falling duo wlthln on• y•ar
12
{85,149}
187,3491
Net Current Assets
828,158
752,402
Total A$s?ts loss Curront Liabilitigs
828.258
752,893
Funds
Reslricled trust funds
Gèneral fund lunreslricledl
10,496
817.762
101
752,792
Total funds
14
828.258
752,893
These financlal statements have been prepared in accordance with the special prcvisions relating lo small companies
within Pert 15 01 the Companles Act 2006.
For the financial year ended 31 December 2024 the ¢harity was enlilled to exemption from audit under section 477 of
the Compani8s Act 2006., and no notice has been dgposited under section 476.
The trustees confirm that the members have not requlred th8 company lo obtain an audit of its financial statements for
the financial year in question in accordance with section 476 of the Companies Act 2006.
The Iruslees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply
with section 386 and for preparing financial statements which give a true and fair view of the slate of affairs of the
charity as al the end of the financi81 year and of Its profil and loss for the financial year In accordance with the
requirements of sections 394 and 395 and which otheNise comply with the requirements of the Companies Act 2006
relating to financial statements, so far as appllcable to the charlty.
Th8 financial stslements have been pr8par8d in accordance With the provisions applicablè lo companies subject lo
the small companies, regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK
and Republic of Ireland. applying Section 1A ol that Standard.
912412025
Approved by the Board of Trustees and authorisod for issuè on
behalf by
and signed on its
O(*¢u$kJn￿ by..
DoGuS1on•d by..
V-l MddLs
Davld Nlcholls
Trustee
Trustee
The notes on pages 1110 16 form part of the finan¢i81 stslemenls
10

Docusign Envelope ID.. 810D7212-83C449AA-BDA6-29A0754BCAC1
The Nicholls Spinal Injury Foundation
IA company limit8d by guarantee, not havlng a share capital)
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 Dècember 2024
GENERAL INFORMATION
The Nicho115 Spinal Injury Foundation is a company limited by guarantee incorporated in the United Kingdom.
The registered office of the charity is 27 Old Gloucester Street, London, WC1 N 3AX, United Kingdom whlch Is
also the principal place of business of the charity. The financial slalemenls have been presented in Pound 1£)
which is also the functional currency of the charity.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The following accounting policies have been applied consistently in d8aling with ilerns which are considered
material in relation lo the charity's financial statements.
Basis of preparation
The financial statements have been prepared on the going concern basis under the historical cost convention,
modified lo include certain items al fair value. The financial statements have been prepared in accordanc8
with the Statement of Recommended Practice {SORPI 'Accounting and Reporting by Charities preparing their
accounts In a¢cordance with the Financial Reporting Standard applicable In the UK and Republlc of Ireland
FRS 102" applying Section 1 A of that Sl8nd8rd.
As permitted by the Companies Act 2006, the charity has varled the standard formats In that act for the
Slalemenl of Financial Activities and the Balance Sh&èl. D8partures from the standard formals are lo comply
with the requlremenls of the Charities SORP and are In compliance with section 4.7, 10.6 and 15.2 of that
SORP.
Statement of compliancg
The financial slalemenls of the charity for the financial year ended 31 December 2024 have been prepared on
the going Goncgrn basis and in accordance wllh the Statement of Recommended Practice ISORPI
"Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republi¢ of Ireland FRS 102" applying Section 1A of that Standard.
Fund accountlng
The following are the cat8gori8s of funds maintaSned:
Restrlcted funds
Reslricled fund5 repr6s&nt income received which can only be used for particu18r purposes. 8s specified by
the donors. Such purposes are within the overall objectives of the charity.
Unr•strlct8d funds
Unrestricted funds consist of G8ngral and Designated funds.
General funds represent amounts which ar8 expendable al the dSscrelion of the board, Sn furtherance of the
objectives of the charity.
Designated funds comprise unrestricted funds that the board has, at its discretion, sel aside for particular
purposes. These designations have an adminlstrative purpose only. and do not legally restrict the board's
discretion lo apply the fund.
Income
Income is recognisèd by inclusion in the Stat8ment of Financial Activities only when the charity is legally
enlilled to the income, p8rformanc8 conditions attached lo the ilemlsl of Income have been mel, the amounts
involved can be measured with sufficient reliability and il is probable that the income will be received by the
charity.
Income from charltable actlvltles
Income from charitable activities include income earned from the supply of services under contractual
arrangements and from performance related grants which have conditions that specify tha provision of
particular services lo be provided by the charity. Incoma from government and other co-funders is recognised
when the charity 15 legally enlilled lo the income because il is fulfilling tha eondilions contained in the related
funding agreements. Where a grant ig received in advance. ils recognition is deferred and included in
creditors. Where entillemenl occurs before income is received, it is accrued in debtors.
Grants from governments and other co-ftjnders typically include one of the following types of conditions:
Performance based conditions.. whereby the charity is conlraclually entitled to funding only lo the extent that
the core objectives of the grant agreement are achieved. Where the charity is meeting the core objectives of a
11

Docusign Envelope ID.. 810D7212-83C449AA-BDA6-29A0754BCAC1
continued
The Nicholls Spinal Injury Foundation
IA company limited by guarantee. not having a share capital)
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2024
grant agreement, it recognises the related expenditure, to the extent that it Is reimbursable by the donor. as
income.
-Time based conditions.. whereby the ¢h8rity is ¢ontractU8lly enlilled to funding on the condition that il 15
utilised in a particular period. In these cases the charity recognises the income to the extent it is ulilised within
the period specified in the agreement.
In the absence of such conditions, assuming that receipt is probable and the amount can be reliably
measured, grant income is recognised once the charity is notified of enlillement.
Grants received towards capital expenditure are Grediled lo the Statement of Financial Activities when
received or receivabl8, whichever is earlier.
Expenditure
Expenditure is analysed between costs of charitable activities and raising funds. The costs of each activity are
sep8r8tely accumulated and disclosed, and analys8d according lo their major compon8nts. Expgnditur8 is
recognised when a legal or conslruclive obligation exists as a result of a past event. a transfer of economic
benefits is required in settlement and the amount of the obllgallon can be reliably measured. Support costs
are those functions that assist the work of the charity bul cannot be allribuled lo one aclivily. Such costs are
allocat8d to activities in proportion lo staff time spent or other suitable measure for each activity.
Slgnificant judgements and estimates
The preparation of financial slalements requires the use of certaln crillcal accounting eslimales. 11 also
requires manag8menl lo exercise its judgement in the proco5s of applying the company accounting policies.
The areas involving a higher degree of judgement or complexity, or areas where assumptions and eslimales
are significant to the financial slalemenls are disclosed in within the individual 8ccounling policies above.
Tanglble flxed assets and d•pro¢latlon
Tangible fixed assets are slated al cost or at valuation, less accumulated depreciation. The eharge lo
depreciation is calculated lo writa off the orlglnal ¢ost or valuatlon of langlble flxed assets, lesg their eslimaled
residual value, over their expected useful lives as follows-
Fixtures. fittings and equipment
33010 on cost
Invastments
Investments held as flxed assets ar8 Stated al cost le55 provision for any p8rrnanenl diminution In value.
Income from other financial fixed asset investments together with any related tax credit is recognised in the
income and expenditure account In the flnancial year In which it is receivable.
Debtors
Debtors are recognlsed al the settlement amount due after any discount offered. Prepayments are valued al
the amount prepaid nel of any trade discounts due. Income recognised by the charity from government
agencies and other co-funders, bul not yel receSved at financial year end, Is Included In debtors.
Cash at bank and In hand
Cash al bank and in hand Comprises cash on deposit al bank5 requiring less than thr88 months notice of
withdrawal.
Taxation and deferred taxation
No current or deferred taxation arises as the charily has been granted charitable exemption. Irrecoverable
valued added tax is expensed as incurred.
Deferred lax is recognlsed In respect of all tlming dlfferen¢es that have orlginated but not reversed at the
balance sheet dale where transactions or events have occurred at that dale that will result in an obligation lo
pay more tax in the future. or a right lo pay less lax in the future. Timing differences are temporary differences
between the charity's taxable income and its results 8s slated in the financial slalements.
Deferred lax is measured on an undiscounled basis at the lax rates that are anticipated to apply in the pèriods
in which the timing differences are expected to reverse, based on lax rates and laws that have been enacted
or subslanlively enacted by the balance sheet date.
Financial Instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short lemi deposits
12

Docusign Envelope ID.. 810D7212-83C449AA.BDA6.29A07548CAC1
continued
The Nicholls Spinal Injury Foundation
IA company limited by guarantee, not havlng a share capltal
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2024
with an original maturity date of three months or less.
Debtors and creditors with no stated interest rale and receivable or payable within one year are recorded al
transaction price. Any losses arising from impairment are recognised in th8 slalemenl of financial activities
under administrative expenses.
Financial liabilities and equity instruments are classified according lo the substance of the conlraclual
arrangements entered into. An equity instrument is any contract that evidences 8 residual interest in the
assets of the enlily after deducting all of ilg financi21 liabilities.
Where the contractual oblig8tion5 of financial instruments are equivalenl to a Similar debt inslrumenl, those
financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the
balance sheet. Finance costs and gains or losses relating lo financial liabilities are inciuded in the statement
of financial 8clivilies. Finance costs are calculated so as lo produce a constant rale of return on the
outstanding liability,
INCOME
DONATIONS AND LEGACIES
Unrestrlcted Restricted
Funds
Funds
2024
2023
Donations and18gacies
65,453
10.401
75,854
36,312
OTHER TRADING ACTIVITIES
Unrestrlcted Rastrlcttrd
Funds
Funds
2024
2023
Other trading activities
167,974
167,974
209,161
OTHER INCOME
Unrestrlcted Re$trl¢t9d
Funds
Funds
2024
2023
Other income
18.075
18,075
12.309
EXPENDITURE
RAISING FUNDS
Dlre¢t
Costs
Other
Costs
Support
Costs
2024
2023
Raising funds
106,829
8,187
115,016
134,763
CHARITABLE ACTIVITIES
Dlrect
Costs
Other
Costs
Support
Costs
2024
2023
Expenditure on ch8ritable activites
Governance Costs (Note 4.31
63,839
63,839
7,683
126,626
6,992
7,683
63,839
7,683
71,522
133,618
GOVERNANCE COSTS
Direct
Costs
other
Costs
Support
Costs
2024
2023
Charitable activities - governanoe
osls
7.683
7,683
6,992
13

Docusign Envèlopè ID". 810D7212-83C449AA-8DA6-29A0754BCAC1
continued
The Nicholls Spinal Injury Foundation
IA company limited by guarantee, not having a shar8 capital)
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2024
SUPPORT COSTS
Cost of Governance
Raising
Co$t$
Funds
2024
2023
Support
8,187
7,683
15,870
11,798
ANALYSIS OF SUPPORT COSTS
2024
2023
Support
15,870
11,798
NET INCOME
2024
2023
Net Income Is stated after charglngllcredltlngl..
Depreciation of tangible assets
Independent Examiner's remuneration..
independent examination seNices
390
606
1,200
3,840
INVESTMENT AND OTHER INCOME
2024
2023
Bank Inl8r8sl
18,075
12,309
EMPLOYEES AND REMUNERATION
The staff Costs compAse'.
2024
2023
Wages and salaries
Pension costs
71,601
418
79,413
1,016
72.019
80,429
TANGIBLE FIXED ASSETS
Fixtures.
flttSng5 and
equlpment
Total
Cost
At 31 December 2024
3,067
3.067
DgprgGiation
At 1 January 2024
Charge for the financial year
2,676
391
2.676
391
At 31 December 2024
3,067
3,067
Net book value
At 31 December 2024
At 31 December 2023
391
391
14

Docusign Envolope ID.. 810D7212-83C449AA-BDA6-29A0754BCAC1
continued
The Nicholls Spinal Injury Foundation
IA company limited by guarantee, not havlng a share capltall
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2024
10.
INVESTMENTS
Other
investments
Total
Investment8
Cost
At 31 December 2024
100
100
Not book value
At 31 December 2024
100
100
Al 31 DeGember 2023
100
100
There were no investments held outside of the UK.
Th8 company's investments al the balance shbet d8t8 in the share capital of companies include the following
TNSIF Llmit8d
Registered office 27 Old Gloucester Street, London, United Kingdom, WC1 N 3AX
Nature of business '. Dormant company
Class of share .' Ordinary
Holding - 1004
11.
DEBTORS
2024
2023
Trade debtors
Other dablors
Prepayments and accrued income
6,960
6,435
22,578
673
673
35.973
12.
CREDITORS
Amounts falling due withln one year
2024
2023
Trade creditors
Accruals and deferred income
29,110
56.039
1,234
86,115
85.149
87,349
13.
RESERVES
Funds
Total
SurplusllDeficitl for the financial year
75,365
75,365
At the end of the year
75.365
752,893
828,258
15

Docusign Envèlopè ID.. 810D7212-83C449AA-8DA6-29A0754BCAC1
continued
The Nicholls Spinal Injury Foundation
IA cornpany limited by guarantee, not havlng a share capital)
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2024
14.
FUNDS
14.1 RECONCILIATION OF MOVEMENT IN FUNDS
Unrestricted Restrlcted
Funds
Funds
Total
Funds
At 1 January 2023
Movement durlng the financial year
763,223
110,4311
269
11681
763.492
(10,5991
At 31 De¢ember 2023
Movement during the financial year
752,792
64,970
101
10,395
752.893
75.365
At 31 D8C8mber 2024
817,762
10,496
828,258
14.2 ANALYSIS OF MOVEMENTS ON FUNDS
Balance
1 January
2024
Ineom• Expendlturo
Transfers
Balance
between 31 December
funds
2024
Restrlcted fund5
Reslriclod
Unrestrlcted funds
Unreslricted General
101
10,401
10,496
752.792
251,440
186,470
817,762
Total fund8
752,893
261,841
186,476
828,258
14.3 ANALYSIS OF NET ASSETS 8Y FUND
Flnanclal
fixed
assgts
Current
assots
Current
Ilabllltlos
Totsl
Unrestricted general funds
100
913,307
{85,1491
828,258
100
913,307
{85,149}
828.258
15.
STATUS
The charity is a company limited by guarantee not having a share capital.
The liability of the members is limited.
Every member of the company undertakes to contribute lo the assets of the company in the event of its being
wound up while they are rnembers, or within one financial year thereatter, for the payment of the debts and
liabilities of the company contracted before they ceased to be members, and the Gosls, charges and expenses
of winding up, and for the adjustment of the rights of the contributors among themselves. such amount as may
be required. not exceeding £ 1.
16.
RELATED PARTY TRANSACTIONS
Donations totalling £5,63012023'. £9,900) were received from Iruslees. The donations related lo the purchase
of teams for the golf 8nd c18y pigeon events.
There were no other related paty transactions for the year ended 31 December 2024, nor the year ended 31
December 2023.
17.
POST-BALANCE SHEET EVENTS
There have been no significant events affecting the Charity since the financial year-end.
16