2023-12-31-accounts

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Charity Commission No. 1109891

Annual Report 2022 – 2023

Covering the year from 19th April 2022 to 18[th] April 2023

Item	Page
AGM Agenda	1
Trustee Commitee Members	2
Reports:	3
 Chair

The Trustees’ Annual Report and Accounts are available for inspection at the AGM.

Wednesday 19[th] April 2023

AGM Agenda and Presentation of Report and Accounts

1. Introduction and Welcome

2. Apologies for Absence

3. Governance Topics

4. Risks and Risk Mitigation

5. Review of the previous year

6. Making Appointments

7. Close

Trustees and Members

Chairman

Jon Moulton

Secretary

Sara Everett

Trustees

J P Moulton S J Moulton Sara Everett

Other Supporting Roles

Independent Examiner:

Amicus Accountancy Limited Chartered Certified Accountants The Stables Goblands Farm Business Centre Cemetery Lane Hadlow Kent TN11 0LT

Reports

J P Moulton Charitable Foundation Annual Report and Accounts 2022 – 2023

2

Chair’s Report

The Foundation continues to meet its aims and objectives to fund noncommercial clinical trials with the aim to make clinical advances and promote the relief of suffering.

Since the last AGM, there have been no new funding awards.

4 trials have presented their results.

There are currently 8 active trials.

Treasurer’s Report

Previous accounts made up to 31[st] December 2021 submitted on the 7[th] August 2022.

The previous accounts were approved by Spencer Moulton on 10[th] August 2022.

There are enough funds available to cover the Charities current commitments.

J P Moulton Charitable Foundation Annual Report and Accounts 2022 – 2023

3

REGISTERED COMPANY NUMBER.. 05311748 (England and Wales) REGISTERED CHARITY NUMBER- 1109891 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR J P MOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEEI

J P MOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEEI CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Page Refe￿n￿ and Adminislralive Details Report of the Trustees 2to4 Independent Examine<5 Report Slalernent of Financial Activities Balance Sheet Cash Flow Stalerenl Notes lo the Cash Flow Slalemenl Notes to the Financial Statements 1010 14

J P MOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED BYGUARANTEEI REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023 TRUSTEES J P Moullon S J Moullon Di H Crilthley OMPANY SECRETARY Dr H Crltrhley REGISTERED OFFICE 10 Buckingham siieel London V¥C2N 6DF REGISTERED COPIPAPIY NUMBER 05311748 (England arKI VV81esl REGISTEREO CHARITY NUMBER 1109891 INDEPENDENT EXAMINER Amicus A¢¢ounl8ncy Lid Chartertd C¢difiel Accwnlants The Slablts GDblands Fam Buslness Centre Cemeiery Lane Hadlow Kent TN11 OLT BANKERS Cothis & Co 440 Slf2nLI London WC2R Oas CHIEF EXECUTIVE OFFI¢ER J P Moutton Page 1

J P MOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEE? REPORT OF fHE TRUSTEES FOR THE YEAR ENDED 31 DEGEMBER 2023 The Trustees, who are also dire¢tor8 of the charity lor the purposes ol the Companies Act 2006, present their report wilh the finanu81 slalemenls olthe charity forthe year ended 31 DeLemb&r 2023. Th& trustees have adopted the provisions of Accounting 3nd Reporting by Charities". Slaiemenl ol Re¢ommended Praclice applicable lo Gharilies prepaiing their accounts in accordance with the Finanual Reporting Standard applicab￿ in the UK and RepubliG of Ireland IFRS 1021 lissued In Oclober 20191 OBJECTIVES AND ACTIVITIES Purposes and actlvltles The purposes of the chaiily a￿.. lo lund mn-cornmeroal clinical trials with Ihe aim lo make clinical advan￿$ and promote the relief of suffering., lo provide charitable donations for community serwice PTojecls of any KIr￿ to promote educalh)n, training and counselliny of disadv8ntaged person5". - to provide donations lo hospitals. rnedical and care projects of any kind lo assist with Ihe general Welfa￿ ol patients. The vision Ihal shapes our annual 8Ctivilies remains the advan￿Ment of medical knowledge by the provison of funds lo nslilulions carrying out clinical trials in order lo improve the Quality of life of sufferers. The charity also has a general aim ol conlr5buling to projecls lo furthei the Social and edu¢alional welfare of COr¥￿uni￿"e5. The Trustees award grants on the per￿l¥e￿ merits of applications which a￿ made to the ¢haritabb foundalion in writing. In shaping our objectives for the year ard planning our lunding aGtivilies, the Trustees have considered the Charity Commission's guidance Dn public benefit, incltKling the guKlan￿'Pub1lC Benefit.. runrtifig a charily IPB21'. We endeavoui to fulfi5 these responsibililies, as our donatlons are lo¢ally for the b8nefit of communities and our dinical trials funding is forthe genèral Population. The strategies ￿ployed to a¢h￿ve the charity's aims and obje¢lives are lo. advertise to encourage inslilulions and communhy projects lo apply foi available funding,. tnonitor the ongDing din￿al trials lo en$￿￿ that mileslones ale being met, lo ensure that the fur￿1ng is directed to Ihe most worthy trials. ACHIEVEMENT AND PERFORMANCE Charltable activities Since its inception the charity ha8 funded over 100 clinical trials which have been 8elecled based on high quality &¢ien( and the polenlial lo have a direct palienl benefit. The trials have been conducled in a ￿de range ol therapy areas and range from first in human lo new uses for licen￿￿ drugs. During Ihe past 12 Inonlhs several of the tnals have Completed and presented their resulls to the Ttustees and we have funded 2 new tria15 exploiing the areas ol women's health and vaC￿ne supply chains. Th8 charity has supported ground-breaking resear¢h in di8eases Ihal struggle lo obtain fvnding from olhei funder8 as they do not fulfil Iheir funding Criteria e.g. head and neck Can(￿r. W8 hav8 pr8viou51y also entered into jlynt v&nluies with other medical Gharilies to help support larger trials. Due to the increasing administrative burden faced by iesear¢hers ¢ondu¢ting non-comm8rcial clinical research, p￿diCte timelines for some trials do 51ip. However, regular reporting ol perfonran¢e helps lo ensure that milestDne5 are mel. The Truslee5 ale able to pttsvide guidance and support lo projects that struggle lo achieve the anlicipaled PToiwI limèlin&. Approximately 30Yo of applications receive full or partial funding and the charity ha8 provided over £22 million in funding lo dale. The income and expendilure for the year are Sel out in the slalemenl ol financial adivitEs. The nel movement in funds foi thE year was a deficit of £85,58612022 sutplus.. £760,$071, resulling in a fund suiplus carried forward of £1,227,94112022. £1,313.5271. The foundation continued to provide grants foi medical research projects lotalling £192,02412022.. £115,695). Grants are generally made in inslalments and the Trustees revipw the ongoing performance of these research projeols to ensure that these are operating wlhin expectslion5 prior lo any knrther grants being rel8as8d. Page 2

J P MOiILTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEEI REPORT OF THE TRUSTEES FOR THE YEAR ENDEI) 31 DECEMBER 2023 FINANCIAL REVIEW Finallcral PD51tIDn Al the baliince sheet date, Ihe charily's reseNes were in surplus by £1,227,94112Q22.' E1,313,5271. These a￿ unrestricl8d serves and available forlh& g&neml purpose$ of lh& charity. At the year end thére are grant commitments o1£1.089.761 12022.. £972,778) These cornmilmenls span future accounting periods and are d&lail8d al note 14 lo the fii)ancial $lalemenls. Printipal fur*dli)g sources The chaiily's principal funding soui¢e of incoine ale donation5 from Mr J P Moulton, Mr S J Moulton rrrusleesl and other high net worth indivioluals. Th8 financial suppoti ol the Truslees continues lo be essenti81 in maintaining and prolecling 118 current funding ¢ornmilments lo ensu￿ that Ihe charily op8rates as a g(Ang COn￿rn. Mr J P Moullon has indicated that he is willing to ntinue donaiing lund$ lor the foreseeable future $0 that the Foundalion may meets its financial comtnilments. Reserves policy and going concern Resep￿S ate needed lo bridge the gap between Ihe spending and receiving of Income and to cover any overhoads. The Trustees have Teviewed the risks asso¢ialed with receiving enough future income lo cov6r its funding Commitments and have ¢oncluded that there are ennugh high net worth Individuals supwrtinp the charily for it to be able lo continue in operation until obluations are fulfil￿d. Pay pollcy for trustèes All Trustees give Iheirtime freely. FUTURE PLANS The ch3rity will conlinue lo lund ils existing linanc4al cornmitment$. However, a new charity has been eslab1i%hed in Guernsey, The Jon Moullon Chatily Trust. Calls for future funding will be via that ¢h8rity vthich wll likewise fund those successful giant appli¢alions. STRUCTLIRE, GOVERNANCE AND MANAGEMENT Governlng document The COMpa￿Y 15 Egi5tpred as a charitable company limited by guarantee and wa5 sel up by the Memorandum ol Asso¢ialion on 10 De￿mber 2004. The company is constituted under a Mernurandum ol AssocialioTr dated 10 December 2004 and is a regisle￿d charity number 1109891. The principal and ￿gIStered ollice together with the person5 who served a5 Trustees during the year and Iheir relevant position on Ihe Board and 8ny office held are listed vnder'Refe￿n￿ and AdminislralN8 details,. Recruitment and appointment of new Trustee8 The management of the wmpany Is the responsibility of the Trustees who are elected and ￿-Opted under the terms of the Artic￿8 ofAssocialion. Indu¢tion and traliilng of new Trusteès Tr￿ ¢harilab1e foundalicn is rÈlying upon the guidance issued by the Chaiities Commissk)n in relalK)n lo inductlon and training of Trustees. Individua￿ wishing lo be¢ome Iiustee5 apply by wrillen applicab.on and a￿ appointed by a iesolulion of the Members if they are considered lo be suitable for the vacancy Ihal exists. Maiiagement of the charity The day-lo-day management ol Ihe ¢harily re51S with the Truslees PUBLIG BENEFIT Vthen considering the Charilable company'5 activilies, the Trustees have comp11ed wrth their duly und8r s17151 of the Charities Aet 2011 to have due regard lo the Charily Commt8sion's general guidan￿ on public benefit. Page 3

IND￿PENDENT EXAMINER'S REPORT TO THE TRUSTEÉS OF J P MOULTON CHARITABLE FOLINDATION IA GOMPANY LIMITED BY GUARANTEE) FOR THE YEAR ENDED 31 DECEMBER 2023 STATEMENT OF TRUSTEES RESPONSIBILITIES The trustees IwhD are also Ihe directors of J P Moullon Charilable FoundatiDn IA ¢ompany limited by guarantee) lor the purposes of company lawl ar8 responsible for preparing the Report ol the Tiuslees and the financial slatements in accordance wlh appli¢able law and Uniled Kingdom Accounling Standards IUni18d Kingdom Generally Accepted Accounling Practi￿1. including Fsnancial Reporting Standard 102"The Financial Reporting Slandsid applicable in the UK and Republi¢ of Ireland" Company law requires the tiusiees to prepare financial slatefflen15 for each financial year which give a true and fail view DI the slate of 8ffairs of the ch3rilable company and ol the incoming resources 8nd application c)1 resources, including the In¢(￿e and expenditure, of the charitablè company for that period. In preparing those financial ststem&nt5, the IIu51ees 3rè required to.. selecl suitable accounting policies then apply them ¢onsislently,' observe the methods and prinUp￿S in the Charity SORP., make judgements and estimales that ao reasonable and prudent., prepare the finan¢ial st81Èmenls on the going con￿rn ba￿S unless It is Inappropriate to presumè thatthe ¢haritabl& company will ¢onlintse in bu5ines8. The trustees are responsible for keeping piopÈr accounting records which disclose with reasonable a¢curasy at any lime the linanGial position of the thaiilable company and to enable thèm lo ensure th81 the finanaal statements comply with the Companies Act 2006. They arts also ￿sponsible loi safeguarding the assets ol the charilable company and hence for taklng reasonab￿ slep8 for the p￿VentIon and delectiDn ol fraud and olher irreGularilies. Approved by order olthe board of Iruslees on 19 August 2024 and 8igned on it8 behalf by.. J P Moulton Tiuslee Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF J P MOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEÉI FOR THE YEAR ENDED 31 DECEMBER 2023 l ￿portIO Iheeharity Irusleeson myexamination Ofll￿ accounts ofihe mnpany for Ihe yearended 31 December2023, are getcArton pages 6 to 14. RESPONSIBILITIES AND BASIS OF REPORT A8 charity trustees oflhe company land also its diteclots lorlhe purpo8e5 ofc(￿PanY lawl you are re$ponsiW fortt preparation ofthe accounts in acCordance￿h reqUIre￿nIS oflhe ￿Mpan[e8 Act I'the 2006A¢VI. Ilaving 5a11sfi￿ mysÈlllhaltlÈ attounts Of1￿ corrpany a￿ ncit reqUi￿d lo wdited under Part 16 ofihe 2W6 Ad and are eligible for Indepe￿enIeXaMIn2l10n, I reportin feSFect of my examnalDn olyourcompanls acuunls as cained oUtu￿er section 145 of the Chanlie5 Ad 20111'lhÈ 2011 Acl'l. In I￿rry￿g out my examination I hav¢ follovEd the Diredion8 given by Ihecharity C￿nmI￿R￿ underSed￿n 14515llbl of the 2011 Acl. INDEPENDENT EXAMlhlER'S STATEMENT I have tsjrybled my@xaminalK)n. I confiM that no maitÈrs have Come to my atiention inconnection ihe examin8tR gi￿ng me eause to keleve Ihal in any m8knal Espect". a(xx)unb"ryg recoidswre n)1 keplin respecloflhe as wul￿d by se(on 386 oflhe2fM16 Act, or the accounts do not aceord with those remrds.. or ihe acrnunts do not compPyMrylh Ihe accounliThJ reguirenEnt8 of￿¢bon 3* oflhe 20rffj Adolherthan any requirement Ihat the accouDbgive 8'lruÈ and far v￿41 which ts Th)1 a mattercowdered as part ofan independenlexarninaliw.. or the aewunts have not preparEd n aCcordan￿￿1th the mett￿5 and ￿nCIp￿S ollhe Stalemenl of Re￿Mrnend Practi￿ for accounb'ng arxl reporting by tharilies apOit2Ne lo thariti&s preparing Iheiraccounts in a￿rd9n￿ Mrilh the FinarKial Reporting Standard ap￿￿3t￿e n the UKand Republ￿ oflrèland IFRS 1021. I have no Con￿Msand have auoss no ollier matters in C(￿￿￿￿K)n wrilh the examination to attention Sh￿￿￿ be dravm in this report in order lo enabk a proper understanding oflhe ￿unts lo be reathed. Franc8sSweelFig FCCA Assoaatx>n ofchartered CerbfiedA¢C￿l￿tants Amius Accountancy Limiled The Slab Goblands Fann Business ￿ntr@ Cemetery Lare Hadlow Kent TN11 OLT Date.. 19Augu8t2024 Page 5

J P MOULTON CHARITABLE FOUNDATION IA GOMPANY LIMITED BY GUARANTEEI srATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Unrestricted fund 2022 Unreslricted lund Noles INCOME AND ENDOWMENTS FROM Donations and legacies 97.625 881,250 Inve51menl Income 16.523 Total q 14,148 883.285 EXPENDITURE ON ¢harltable aetivlties Grants payable 199,734 122.778 NET INCthME I IEXPENDITUREI 185,5861 760,507 RECONCILIAnON OF FUNDS Total fund8 brought fonvard 1,313,527 553,020 TOTAL FUNDS CARRIED FORWARD 1.227,941 1,313,527 CONTINUING OPERATIONS All Income and expenditu￿ has arisen from conllnuin9 activities. The notes form part of thesè financial statements Page 6

J P MOULTON CHARITABLE FOUNDATION IA GOMPANY LIMITED BY GUARANTEEI BALANCE SHEET AT 31 DECEMBER 2023 2023 2022 Unrestricted fund tJnrest¥lcted fund Notes CURRENT ASSETS Debtors Cash at bank 19,525 1,214,584 156,550 1,163,977 1,234,109 1,320,527 ¢REDifoRS Amounts falling due within one year 12 16,1681 17.0001 NET CURRENT ASSETS 1,227,941 1,313,527 TOTAL ASSETS LESS CURRENT LIABILITIES 1,227,941 1,313,527 NET ASSETS 1,227,941 1,313,527 FUNDS Unrestricted funds". General fund 13 1,227,941 1,313,527 TOTAL FUNDS 1,227,941 1.313.527 The charitable company is entitled io exemplion f￿[n audit under Section 477 01 the Companies Act 2006 for Ihe year ended 31 De￿mber 2023. The members have not ¢kposited noti￿, pursuant its Section 478 of th8 Companies Act 20[￿ requiring an aydil of these rinancial slate￿entS. The trustees aoknowledge their responsibilities for en5uiing that the charitable Company keeps accouating reeor(Is that ¢omply ￿rith sed￿n$ 386 and 387 01 Ihe Companies Act 2006 and pr6paring financial sl8lemenls which give a true and lair view of the state of affairs of the chaiil&ble Company as al the ond of each financial year and ol 11$ surplus or deficil lor each financial year in accordan￿ with the requiremen.ts of Se¢tions 394 and 395 and which othepNise comply with Ihe requirements of the Companies Act 2006 relating lo finawial statemen15, $0 far 8$ applicable lo Ihe chaiilable company, These financi81 slalements have been p￿Pared in accoidance wslh the speci£l piovi5ions of Part 15 oflhe Companie8 Act 200e relating lo Gharitable small companies. The financial stst¢men15 weie approved by Ihe Board of Trusl888 on 19 August 2024 and were swned on ils behallby.. Ibl JPM on -Tw8lee The notes form part of these linanaal statements Page 7

J P MOULYON CHARITABLE FOUNDATION IA GOMPANY LIMITED BY GUARANTEEI CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Note5 Cash Ilows from operating actlvltles: Cash gener8'.ed from operations 34,084 ash flow8 from investlng activltles: Interest received 16,523 2,035 Net Cash provldÈd by Inv88ting actlvltles Change ia cash and Cash equtvalents In the reportlng pgriod SO,607 610,948 Cash and ca8h equivalents at the beginning of Ihp répDrtlng perlod 1.163977 S53.029 Cash and cash equivalents at the end of the reporting perlod 1.214,584 1,163.977 The notes form part ol thesè financial statements Page 8

J P MOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEÉI NOTES TO THE CASH FLOWSTATEMENT FOR THE YEAR ÉNDED 31 DECEMBER 202J RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2023 2022 Nel Idelicstl Income for the reporttriig perfjod la$ per the ststement of flnancial a¢tlvltiesl 185,5861 760.507 AdlustmcThts foi.. Interest received Decrease I IlnGreasel in debtors Increase I Ide¢reas81 in creLlilor$ 116,5231 137.025 832 12.0351 1147,7991 1.760 Net cash used In operatlng activltles 34.084 606913 Page g

J P MOLILTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 GENERAL INFORMATION J P Moullon Charitable Foundalion is a company limited by guarantee and has no share capital. It is incorporated in England 3nd W8les and lis registered office Is 10 6ud(Ingham Street, London, WC2N 6DF. The principal activity of the company is disclosed in th8 Report of the Trustees. The rnemiers of the eharilabl8 company are the Tiustees named on page 1. In the evenl ol the chatitsble Company being up, the liability in respect of the guarantee is limited to £10 per member. ACCOUNTING POLICIES Ba$ls of preparlng the financial statement8 and assessment of golng conc8m The financial slalements of the Charitsble coinpany, which is a public benefit enlily under FRS 102, have b88n prepared in attordan¢e with the Charities SORP IFRS 1021'Accounling and Reporting by Charities." Slalernent ol Recornmended Practice applitrAble to charities preparing their accounts in accordance with the Financial Reporting Standaid appli¢able in the UK and Republic ol Ireland IFRS 1021 Iissued in Odober 20191,, Finan¢i81 Reportln9 Standaid 102'The Finanaal Reporting Standard applicable In the UK and Republic of Ireland, and the Compan￿$ Act 21x16. The financial Statements have bn prepared under the hisloiical cost ¢onvention. The finan¢ial $lalements are prepared In sterling, which Is the functional Currèncy ofthe entity. and rounded to the nea￿$t £1. The Trustees believe it appropriate lo adopl the golng ¢onc8m basis of ac¢ounling in p￿parIng the annual financial statements and consvjer th81 Iheie ao no material un￿rtainlIeS about ils ability to eontln A personal coMmi￿rent has been given by J P Moullon ITrusleel lo conlinue his financial 5uppori ofthe charrtab cornpany lor the fore8eeable lulure. in particular so that It may lullil its financial comrnitmènts. The Trustees ¢on8ide¥ that the￿ are no key assumption5 or estimates that noed separate disclosure. Income All inGome is recognised in the Statement of Financial Aclivilies ono Ihe charity has enti118rn8nt to the funds. il piobable that the in¢ome vitll be re￿1Ved and Ihe amount be measured reliably. Donations and gifis are brought into account when received. Donated seivic8s are included at the value to the charily where this Can be quantif￿d. Inle¥est recepiable 1$ recognised On an accruals basis. Exponditure Liabilities a￿ rtcognised as expenditure assoon as Ihere Is a legal orconslruclive ob1igalion ￿mmItt1ng the charity lo that expenditure, il is piobabk that a transfer ofeconomic benelils will be ￿quired in settlement and the amount of the obligation can be tneasured reliably. Expenditure is acwunied foi on an accruals ba$1$ and has bÉen classified under headin9s that aggiegale all cost related to the category. Wh8ie cosls Cannot b& direclly yltribuled to a parti¢ular heading they have been allocated to actiWt￿S on a basis consistent with the use of res0￿r￿S. Grants payable are ¢harged in the yearwhen the offer is made except in those cases wher& lh8 offei is conditional, such grant8 being recognis&d as expenditure when Ihe ¢ondilions altaching ale fulfilled. Grants offered subject to conditions which have not been met al the year end are rM)ted as a commilmènl, but not acciued as expenditurts. ¥IVhere milestones a￿ not mel, on occasions. grants payable aff refunded to thè charily. These are recognised when it is ￿rtain that the funds are to be relurjed and are shown a8 credits wlhin'granls payabio,. Charitable 8ttlvltle5 Costs ol charitable acttvities comprtse grants payable to institutions, donations, pmfessional fèes incurffd in as￿rtainIng whethermI￿$10nes have been rnet, allocated support costs and g0Veman￿ co81s. Allocatlon o15UPPDrt and governance costs Support costs have been allocated betseen governan￿ ￿St$ and olhersupport costs. Govomance comprises all Costs involving the public accountability olthe ¢harily and its complianc6 With iegulation and good practice. These costs include Gosls relatin9 lo slatulory audit and legal fees, t(yJether with the apporiionmènl of overhead and support costs. Page 10

J P MOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEE) DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OECEMBER 2023 ACCOUNTING POLICIES Icontinuedl Alloeatlon of support aJ)d governan¢e costs IcontlrÈuedl These wsl8 are &llocaled lo the ch3rily'$ 8CtivilES olgrant making and donation givIryJ. The Charity Kknlifies lh8 cost of ils support function. 11 Ihen vjenlifies those costs whith relate to the governance Ivn¢tion. Having identified Ils g0verftan￿ costs the remainirKJ support wst8, together with the governance ¢osis are allo¢aled lo the eharilable aclpiily. s￿pport costs a￿ minitnal ITr the context ol the charity. They are shown as being wholly 8PPOrtioned to 115 grant aking activities vknich could be further split between gran1$ payabk to institulions and donations. Any 8PPDrtionmÈnl of cos15 to donations would be minimal. Taxatlon The charity is exernpl fr(¥n Corporation tsx on 115 charitabl? activities. Fuad a¢¢ounting The charily only has a general fund which is unreslri¢tsd funds and available for use at the discretion ol the Iiustee5 lo fund Ihe clinical tria1$ which have met Iheir mileslones and to provide donallons to Ihose caLtses ¢onsideied by the trustees lo be an appropriate use of lh8 lunds. Debtors Other deblors are reeognise<l at amount due. Prepayments are valued HI the amount prepaid. n8t of any trade discounts due. Credltor5 and provisions Cieditors and provisions a￿ recogni5ed where the ¢harity has a present obligation resulling from a past event that will probably r8suIt in the transfer ol ￿r￿S to a third party and thp amount due lo sellle th8 obtigalion Can be measured or eslimaled reliably. Finan¢l81 instiument8 The charity only has financial assels and finan¢ial liabilitiès 018 kind that qualify as basic financial instrurnents. Basic finanual 1nstruments are initially rectyJnised al transa¢lion value and subsequently mea3ur&d al Ihpir sellletnenl value. DONATIONS AND LEGACIES 2023 2022 Donations 97,625 881,250 INVESTMENT INCOME 2023 2022 Other interest receivab Bank interest receivab 54 16,469 302 2,035 CHARITABLE ACTIVITIES COSTS Grant funding ol activltle$ Isee note 61 Support ¢o$t IS8e note 71 Dlrect costs Totals Gran￿ payable 192,024 7.710 199,734 Pag8 11

J P MOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEEI DETAILED STATEMENT OF FINANCIAL ACTIVITIÈS FOR THE YEAR ENDED 31 DECEMBER 2023 6. GRANTS PAYABLE 2023 2022 Grant$ payable 192.024 115695 GRANTS PAYABLE. INSTITUTIONAL 2023 2022 Imperial Colleg8 London Barts Charity Scar F￿e Foundation Unive151ty of Shewiekl Exeter University 87,024 75,000 30,000 45.638 70.057 Total grant paymDnts 192.024 115895 All grant$ payabk are for medical research proje¢b. SUPPORT COSTS Govemanc ¢08ts Other Totals Grants payable 7,130 7,710 Support oosls, incI￿jed in the abov&. are as follows.. Other 2023 2022 Total actlvltie Grants payable Sundry expenses Bank ¢harges Computer expenses 13 382 18 413 527 53 580 Governancè cosis 2023 2022 Grants payable Total activities Independent Ex8minerfs fees Aecounlan¢y and laxalion 4,164 2,966 7,130 3.960 2,710 6.670 Page 12

J P MOULTOht CHARITABLE FOUNDATION IA COMPANY LIMITEO BY GUARANTEEI DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECÈMBER 2023 NET EXPENDITURE Nel expenditure is ststed after charging". 2023 2022 It)dependenl Examiners le8 4,164 3,690 Accountsncy and taxatK)n services 2,￿6 2,710 TRUSTEES. REMUNERATIOht AND BENEFITS There were Tro trustees, remuneiation or other benefils for the year ended 31 December 2023 nor for the year ended 31 Decernber 2022. Trustee5' expenses There We￿ no twste8s' expenses paid for the year ended 31 Decernber 2023 nor for the year ended 31 December 2022. 10. STAFF COSTS There were no slalf (x)sts for the yfyar ended 31 December 2023 nor for the year end8d 31 D8￿mber 2022, The average number of employees in the year was nil12022." nill. 11. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 other debtors 19,525 156.550 156550 12. CREDITORS.. AMOiJNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Acciuals and deferred iTrcome 6,168 6.168 7,0(K) 7.000 13. MOVEMENT IN FUNDS Net movement In lunds At 111123 At 31112123 Unrestrlcted funds General fund 1,313527 1.313,527 85.5861 85.5861 1.227 941 1.227,941 TOTAL FUNDS Net movement in lunds, induded in the above, are as follows.. li)¢omlng re50ur¢es ResoU￿¢S Movemont in exponded funds Ui)restrlcted funds Gen&ial lund 114,148 114,148 199,734 85,5881 85,5861 TOTAL FLINDS 199,734 Page 13

J P MOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEE DETAILED STATEMENT OF FINANCIAL AGTIVITIES FOR YHE YEAR ENDED 31 DECÈMBER 2023 13. MOVEMENT IN FUNDS Icolltinuedl Otnparatives for movement in fund$ Net movement In funds At 111122 At 31112122 Unrestrlcted funds General fund 553,020 553 020 780,507 760,5U7 1.313,527 1,313,527 TOTAL FUNDS Net movem8nl in fLnds, included in the above, are as follows,. In¢omlny resources Resourcos Mtsvernent in expended funds Unrfrstrlctsd funds Gengral fund 883.285 883.285 122,778 TOTAL FUNDS 122,778 760 507 14. OTHER FINANCIAL COMMITMENTS Total 2023 Total 2022 At 31 December 2D23 the charity had commitments as follows". Commitments in respect olgranls approved lor projects which have not been accrued in Ihe finanGio1 slalemenl$ bul Mthich wlll form part of grants payab￿ in future peiiods". Within one year B8lween one and two years Belween Iwo and three years 1,079.761 10.000 609,693 353,085 1,089.761 972,778 Grants are awarded and assessed in tenns of mI￿s1one$. These mile$tone8 setve a5 a basis on whK lo make payments Given the nature DI cèrtain r656arch activities undertaken. the liming ol tnilpsttynes is not alway8 absolute and subject to PQ8sible delay. ThB wovides an elem&nl of uncertainly with règard lo the liming of future grant payments. There are a f￿ grants pending the fonnali8ation of milestones lor whith the timing h85 either been ests'maled where possible or detai￿￿ as yel to be dèlerfflined. The ongoing funding is subject to each project achieving its milestones which are monilored by the Tiuslees. These commitments ￿11 be funded from lulyre donations receivable. 15. RELATED PARTY DISCLOSURES The charitable Gompany received cash don8tions from Mr J Moulton £19,50012022.' £nill and Mr S Moulton £nil 12022". £750,0001, both ofwhom are Irustees. 16. ULTIMATE CONTROLLING PARTY The charitsble cumpany is under the ullimale eonlfol ol its Irus18es, Mr J P Moulton, Mr S P Moullon and Or H Cril¢hley. Page 14

REGISTERED COMPANY NUMBER- 05311748 (England and Wales REGISTERED CHARITY NUMBER= q109891 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECENIBER 2023 FOR J P MOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEEI 4rf.:amicus accountancy Cliortered Ceflilied Accounlarils

J P MOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEEI CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDELI 31 DECEMBER 2023 Page Reference and Adminislralive Details Report of the Trustees 2to4 Independent Examiner'8 Report statement ol Financial Activities Balance Sheet Cash Flow Statement Notes lo Ihe Cash Flow Statement Noles to Ihe Financial Statement5 1010 14

J P MOULION CHARITABLE FOUNDATIO IA GOP4lPANY LIMITED BY GUARANTEEI REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 37 DECEMBER 2023 TRUSTEES J P MOLJIIO S J Moullon Dt H Crilchley COMPANY SECRETARY Oi H Crfl¢h REGISTERED OFFICÈ 10 BUr.king￿rn Slrpel Lonrjon 2N 6DF REGISTERED cofiJpANY NUMBER 05311748 IEngland Walesl REG18TERED CHARITY NUMBER 1 I￿891 INDEPENDENT EXAMINER Amicus Accounisncy Lld Chartered Cèrfified ACMnI￿1s The Slables Gob18llds Faim Buslnes5 Cenlie Cemetery Lantr Ha¢low Kent TN11 DLT BANKEFiS Coulls & Co 440 Slrand London 2R OUS CHIEF EXECUTIVE OFFICER J P Moullon Page 1

J P MOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THÉ YEAR ENDED 31 DECEMBER 2023 The Trvstees, who a￿ also direclors of the charily lor the purposes of Ihe Companies A¢t 2006. presenl their report with the fin8ncial staiemenls ofth& charity for the year ended 31 Der&mber 2023. The Iruslees have adopted the pmvisions ol AGcounling and Repo￿ng by Charities. Slalemenl ol Recommended Practice applicable lo charities preparing their a¢counls in accordance ￿1th the FiTranGial Reporting Standard applicable in the UK and Republi¢ ol Ireland IFRS 1021 lissued in October 20191. OBJECTIVES AND ACTIVITIES Purposes and a¢tlvili88 The purposes ol th& charity are". lo fund non-¢ommercial ¢lini¢al trials wth the aim lo make dinical advan￿$ and promote Ihe relief of suffering., lo provide charilable donations lor ¢ommunity Sewi￿ projecis of any kind to promot8 educ&lion. traini￿a and counselling of disadvantaged p8r8ons", to provKJe donations to hospilals. medKal and ¢are projec15 Df any kind lo assSst with the general welfare ol palieTrls. The vision that shapes our annual adivilies ￿MaInS the advancement of medical knowled9e by the provision of funds 10 Inslilutions earrying out clinical trials in order lo iwprDve the qualily of life of sufferer5. The ¢harily also has a general aim ol wntribuling lo prq"eGts lo further the social and 8d4Jcalional weltsre of communities The Trustees award granls on the perceived merits DI applications which are made to the charilabk foundation in wrillng. In shaprng our objectives for the year and planning our funding activities, the Tru51ees have consider8d the Charity Commission's guidan￿ on public benefit, including the ouidance'Public 8enefit.' running a chaiity IPB21'. We Endeavaur lo fulftl these respon8ibilitie5, a5 our d￿atIOnS are l(tally for the b8nefil ol ¢ommunilies and our clinic81 trials funding is for the general population. The slralegies employed lo athievÈ the charity's aims and thjectives are lo.. adveriise lo encourage Institutions and CL)mmunily projects to apply for available funding., monitor the ongoing clinical trials to ensure that milestones are being met, to ensure that the funding is directed to the most worthy trial5. ACHIEVEMENT AND PERFORMANGE Charitable act1v1￿e3 Since its In¢eplion the charity has fund8d over fjOO clinical trials which have been selected based on high quality $¢ien and the polènlial to h&ve a direct paltenl benefit. The tria18 have been ¢onducted in a wide range of therapy areas arKI ¥ange from first in human lo new uses for licentrd drugs. During the past 12 months several of the trials have completed and presented their resulls lo the Truste@8 and we have funded 2 new trials exploring the areas of women's health and va¢¢ine supply Chains. The charity has supported ground-breaking research in diseases that struggle to obtsin funding frorn olherfurKlers as they do tEol fulfil their funding criteria e.g. head and nedt Cantsi. We have previously also entered into joint venlurès with other medi¢al chaiilies lo help support larger trial5. Oue to the increasing administrative burden laced by researd)ers ¢onducling non-commeru81 clinical research. predidBd timelines for some trlals do slip. However, regular reporting of perfo￿artee helps to ensure that mileslon&s are met. The Trustees are able to provide guidan￿ and support lo projects that struggle lo a¢hieve the snlicipaled project timelines. ApproxiM8lely 30Yo of applications ￿¢￿]ve full or partial funding and the Gharily has provided 0￿r £22 million In lunding lo dale. The incwe 8nd 8xpendilure lor the year tt￿ sel out in the statement ol financial activit￿$. The nel movemenl in fund5 fDr the year was a deficil of £85,58612022 surpSus'. £760.5071, resulting In a fund surplus trie£l forward of £1.227,94112022.. £1,313,527). The foundation continued lo provide gran15 for medical research prqecls lolalling £192.02412022-. £115.6951. Grants are generally made in inslalmenls and the Truslees review the ongoing peilotmance of these resear¢h projects lo ensure that these are operating within expectations prio¥ to any further grnnls being ￿leased. Pag8 2

J P MOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEEI REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 FINANCIAL REVIEW Financlal posltion Al the balance sheet date, the th8rity's reserve5 were in surplus by £1,227,94112022.' £1.313,5271. These a￿ unreslricled reserves and available for the general purposes of the charity Al the year end the￿ a￿ granl ¢ommitmen15 01£1,089.7fj1 12022. £972.7781. These ¢unmilmenls span futu￿ accounting periods and are detailed al note 14 to IhÈ financial slalements. Princlpal funding $our¢es Th8 tharity's principal funding source ol income are donaliorK8 from Mr J P MO￿ltOn, Mr S J Moulton ttrusteesl and other high net worth IndividuaL%. The financial sUPPQrt of Ihe TNstees ¢onlinues lo be essential in maintaining and protecting ils current tunding commiiments to ensure that th8 charity operates as a going concern. Mr J P Moullon has indicated that he is wlling lo continue donating lunds for the forpseeable future so that the Foundation may meets ils financial ¢ommilment5. Reserves poll¢y and going concern Reserves are reded to bridge Ihe gap bolween the 8pending and receiving of income and to Cover any overheads. The Trustees have ievipwed the risks assouated wilh re￿1VIng enough ftjture income lo cover ils funding commilments and have conduded that there are enoLigh high nel Wcirth individuals 8UPPOrting the charity lor it lo be able to continue in operation until ils obllgations are lulfill8d. Pay policy for trustees All Trustees give their time freely. FUTURE PLANS The chaiity will ¢ontinv& lo fund it5 existing financial commilmenls. However, 8 new charity has been eslablished in Guernsey, The Jon Moullon Charity Trust. Calls for future fundino will be via Ihal charily which wll likewise fund those 8uccessfLI grant applicAlioris. STRUCTURE, GOVERNANGE ANI) MANAGEMENT Governlng document The Company is registered as a charitabl& company limited by guarantee and was Sel up by the Mem(Yandvm of Association on 10 Deeember 2004. The company Is consliluted under a Memoiandum of Association dated 10 December 2(X)4 and is a registered charity numtEr 1109891. The principal and registered ollic8 togethèr Ihe p¢r50ns who setved as Trustee8 during the year and Iheir ielevant position on the Board and any offi(E held are Iisled under'Referen￿ and AdminislralNe details,. Reciuitment and appointment of new Trustees The rnanagemenl of the ￿MpanY Is Ihe responsibilily of the Trustees who are elected and ctropted under the terms ol the Art￿leS ofAssocialion. Influ¢tlon and training of new Tru$tee$ The charitable foundation 15 relying upon Ihe guidance is8ued by the Charities Commission in relatlon lo induclion and training ol Tiustees. Individuals wshing to become trustees apply by written application and are appointed by 8 resolulicffi of Ihe mernbets if they are consKlered to be suitable for the vacafi¢y thal exists. Management Df the tha¥ity The day-to4ay m8nagem8nt of the cl)arily rests with the Trustees. PVBLIG BENEFIT When considering Ihe chaiilable companys aclivitie5, the Trustees have cornplied wlh their duly undef $17151 ol the Chaiilies Act 2011 10 have due ￿gard lo the Chaiity Commiqsion's general guidance on public benefit. Page 3

INDEPENDENT EXAMINER'S REPORT TO THETRUSTEES OF J P MOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEEI FOR THE YEAR ENDED 31 DECEMBER 2023 STATEMENT OF TRusfEES RESPONSIBILITIES The trustees Iwho are also the diieclots of J P Moullon Charitable Foundation IA company limrted by guaranteel for I purposes of cornpany lawl are ￿sPOnSIblE lor preparing the Report of Ihe Trustees and Ihe finanrjal Sta￿MentS in 8c¢wlance wth applicable law and Unlled Kingdom Accounting Slandafds (United Kingdom Generally Ac*pled Ac¢ounling PiactiTrl, including Financial Reporting Stattdard 102'The Financial Reportlng Standard aw)licable in the UK and R&public ol Ireland" Cornpany law requires the trustees to prepare financial statement$ for each finanaal year which give a true aNI lair vi8w of the stale ol affairs of the chaiilable ¢ompany and of the incoming re50urce5 and ÈpplicaliDn of Fèsources, induding lh8 income and expenditure, ol the Charitable carnpany for that period. In preparing Iliose fillan￿al statements, the tru51ees are reqLtiied to. select suitable accounting policies and then apply them consist8nlly-, observe the methods and principle8 in Ihe Charity SORP.. make judgements and estimates that are ￿3$onable and prudent", prepare the financial slalemen18 on Ihe going wn¢ern basis Un￿$$ it is inapproprial8 lopresume that the chaFilable company will continue in business. The trustees are responsib￿ for keeping proper a￿oUntIng record5 which di$do3e wilh reasonab￿ accuracy at any lime the financial position olthe charitable cixnpany and lo enable Ihern to Ènsure Ihal the finanaa1 ststemenls comply with the Companies Ael 2006. They are also responsible for safeguarding IhÈ assets of the charitable company and hence for lakiro reasonable steps lor the prevention and detection of fraud and olh8r 1r18gula￿Iie$. Approved by order of the boaid of Iruslees on 19 August 2024 and signed on Ils behalf by.. J P Moullo ruslee Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEes OF J P MOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEEI FOR THE YEAR ENDED 31 DECEMBER 2023 I report ts IhechaFty Itustees on my examinat￿n oflhe aco)u)l$ oflhe (xjmpany forlhe Yeare￿ed 31 De￿￿1￿[ 2023, whith ale sel out on pages 6 to 14. RESPONSIBILITIES AND BASIS OF REPORT As the charity Iruslees of the company land also it8 dit8Ctors forthe purposes olcoThpany lawl you are respon￿b￿ for the preparati)n ollhe accounts in accOrdar￿e￿￿th the Nuiremen15 oflhe CompanEs Ad 2CilS I'thtr 20￿ Acl'l. Havirw satisfied myselflh8tlhe accounts ollhethmpany are not reqLffired to be audited under Part 16 01 2006Act and 818 e￿ible for independ&nloxamin8tion, l ￿p(}rt ￿ respect olmy examinalion ofyourcompanys accounts as ￿l￿e￿ out under section 145 oflhe Chanb"esAd 20111'lhe 2011 Ad'l. In catrying oul my examin4b.on I h3ve follo￿Ed the Direcbons given by the Charity Commission ￿derSec￿lOn 14515Xbl of the 2011 Act INDEPENDENT EXAMINER'S STATEMENT I have exxnpletth myexamlna1￿. l o)nfirn no matters have come to my attent￿n in mnnecti￿ wlh Ihe exatninalion giv#ig m¢ cause to believe Ih21 in any malewl re8￿Ct. a¢4)unling recordsweiÈ Th)tkept in resreil oflhe coMpy as required by sedion 286 ofthe 2W6 A¢t,' or ihe aC￿￿Thts do not ac￿)￿ wlh Ihry8e records., or the aC￿unts do nol wmply wlh Ihe acts)unting ￿l￿1￿MentS ofseclK)n 396 ollhe 20C6Act other Ihan any ￿[gre￿￿t Ihal the accoun15 giwe a'lwe arKJ fairv*W vthich is r￿t a matier consideiEd as part of an independenlexaminal¥)n", or the acc(uDts have nol been prepared in acc0rdar¢ew￿h the ttElh(xts and pfin￿￿eS ofthe Statement ol Recommended PractKE foi acrounliro and reportiru by chanties 3ppli¢abte to tharities p￿art￿ theiiaccounls in al￿ordan￿ with the Finan¢a Reporting Standard applicable in the UK a￿d Republr oflreland IFRS 1021. I have no tontrms and have comè aems8 no oiher matters in Con￿¢{10n￿th the examination lovthich attents.on should be drawn in IhB ieportin orderlo enable a woperundet51ar￿in? ofthe a￿￿Unts lo be reach￿. Svfteling FCCA Association olCh8rtered CertifiedAttDUntants ArnicusAtt￿n18ncy Limited The Slabks Goblands Fann B￿r￿sS Centre Cemetery Lane Hadbw Kent TN11 OLT Dale.. 19 August 2024 Page 5

J P MOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEEI STATEMENT OF FlhtANCIAL ACTIVITIES IINCORPORATING Af4 INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 DECEMBER 2Q23 2023 Unrestricted fund 2022 Unrestrlcted fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 97.625 881,250 Investment income 16,523 2,035 Total 114,148 883,285 EXPENDITURE ON Charilable actlvities Grants payable 199.734 122,778 NET INCOME I IEXPENDITUREI 185,5861 760,507 RECONCILIATION OF FUNDS Total funds brought forward 1,313,527 553,020 TOTAL FUNDS CARRIED FORWARD 1.227,941 1,313,527 CONTINUING opgRATIONS All income and expenditure has arisen from wntinuiny aciivitie8. The notes form part of these financial slalemenls Pa9e 6

J P MOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEEI BALANGE SHEET AT 31 DECEMBER 2023 2023 Unrestrl¢ted fund 2022 U41re8trlcted fund Notes CURRENT ASSETS Debtors Cash al bank 19,525 1,214,584 156,550 1,163.977 1,234,109 1.320.527 CREDITORS Amounts falling due wlhin year 12 16.1681 17,0001 NET CURRENT ASSETS 1,227,941 1,313,527 TOTAL ASSETS LESS CURRENT LIABILITIES 1,227.941 1.313.527 NET ASSETS 1,227,941 1,313,527 FUNDS Unrestricled funds.. General fund 13 1,227,941 1,313.527 TOTAL FUNDS 1.227,941 1,313,527 The ¢harilable company is entitled to exemption from audit under Section 477 01 the Companies Act 20(￿ for the year ended 31 Dec8mbÈr 2023. The members have not deposited noti￿, pursuant to SectioTr 476 01 the Companies Act 2008 requiring an audit of these Iinanoial statements. The trustees ad<nowledge their responsibilitEes lor ensuring that Ihe charitabl& company keep$ accounting records that comply wlh Se¢lions 3e6 and 387 of the CompHniÈs Act 2006 and preparing finanaal slalemenls whid) give a true and fair view of the slate of allairs af ihe charitable ¢ompany gs al the end of each financial year and of ils surplus or deficrt for Èach fin8nual year in accordance with Ihe uiiements of Sections 394 and 395 and whith otherwise comply with the requirem&nls ol the Companies Act 2006 relaling to finan¢ial statements, so far as 3pplir2ble to the charii8ble company. These finaDGiÉl statements have been prepa￿d in aecordan¢e with the special provision5 of Part 15 ofthe Companies Act 2006 relating to charitable small cotnpaniès. The financial statements were approved by the Board of Twstees on 19 August 2024 and were s￿ned on its behalf by.. J P Mou1ton- ruslee The notes form part ol these financial statements Page 7

J PMOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED B Y GLJARANTEEI CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notes a6h flows from operatlng activities: Cash generated from operations Cash flows from Investing activlties.. Interest received 16.523 2,035 Net ¢a$h provided by Investliig activities 16.523 Change In cash and cash equlvalents in the ￿pOrtIng porlod Cash and cash equlvalents at the beglnnlng of the reporting perlod 50,807 610,948 1163977 552.029 Cash and cash oqulvalents at the end of thÈ reportlng period 1,214.584 1,163.977 The notés form part of these financial statements Pa9e 8

J P MOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE GASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING AGTIVITies 2023 2022 Net Ideficltl Income for the r&portlng perfod las per the statement of flilancial activiliesl 185.5861 760.507 Adjustments for.. Intere81 iec8ived Decrease I Ilncreasel in debtors Increase I Idecreasel in crèditors 116,5231 137,025 832 12.0351 1147,7991 1.760 Net cash used In operatlng a¢tivitie8 34,084 608913 Page 9

J P MOULTON CHARITABLE FOUNDATION IA QOMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENEED 31 DECEMBER 2023 GENERAL INFORMA TION J P Moullon Charitable Foundalion is a cotnpany litniled by guarantee and has no share capital.11 is Inco￿Orated in England and Wales and ils registered office 1$ 10 Buckingham Street, London. WC2N 6DF. The piinopal aclivily of Ihe company is disc105ed in the Report of the Tiuslees The members of the charilab￿ company arè the Trustees named on page l. In the event ol the eharitab company being wound up, the liability in rtspecl of the guarantee TS limited lo £10 per member. 2. ACCOUNTING POLICIES Basls of prèparlng the financla5 5tattrments and assèssment of golng concern The fInan￿31Sta1eMenl8 01 the charitable Company, which is a public benefil entity under FRS 102, have be8n prepared in 8¢cordan￿ with the Charities SORP IFRS 1021'A¢counling and RepDrting by Ch8rities.' Slalemenl of Recommended Prac11￿ applicable lo charities prepanng their 8ecounls in ac¢ord8nce with the Financial Reportillg Standard appli¢abl& in the UK and Republic ol Iieland IFRS 10211185ued in October 20191,, Financial Reporting Slanctaid 102'Th8 Financial Reporting Standaid applicable in Ihe UK and Republi¢ of Ireland. and the Companies Act 2006. The finan￿al Statements have been prepa￿d Under the historical cost convenlion. The fith8ncial $t8temènls are prepared sterfing. which is the fundional currency Df the enlily. and rounded lo the nearest £1. The Trustees tElieve it appropriate 10 adopt the going concern basis ola¢counling in preparing the snllual financial sialement3 and consider that there are no material uncertainties about ils ability to continue A person81 eommitmenl has been given by J P Moulton (Trusteel lo (x>nlinue hi$ financial 5UPPOrt uf thÈ charilable company for the foreseeable futu￿, in particular so that it may fijifil ils finan¢ial comrnitmenls. The TIuslee5 Gonsider that there are no key as5uniptions or eslimales that need s8parale disdosure Income All income is recogni5ed in the Statement ol Financial Activities oft￿ the ¢haiily has enlillemènl to the funds, il is piobable th81 the incorne will b8 r￿￿1Ved and the amounl can be measured reliably. t)onations and gifts are brouglit into account when received. Donated 88rvices are included at the value to the arity where ihis can be quantified. Interest re￿1vable is retognised on an accruals basis. Expendilur Liabilitie5 a￿ recognised as expendilure as soon as the￿ is a leg81 or conslrudive obligation commilling the charity lo that expenditure, il is probable that a Iransfer of economi¢ l)eneft$ will be requirÈd in settlement and the amount ol the obligation Can be measured reliably. Expenditure is accounted for an accruals basis and has iEen classified under headings that aggfftgatQ 811 c05t relaled lo the category. Where costs cannot be dire¢lly atlribuled to a psrticular heading they have been allocated to aGtivitiÈs on a basis consistent with the use of resources. Grant5 payable are charged ifi the yearwhen Ihe offer is made except in those Cases Whe￿ the offer is conditional, such grants being recognised as expenditure when thg conditions allad)ing are fulfilled. Grants olfered Subject lo condilions vth￿ch have not been met al the year end are noted as a ￿MMItMent, but nol a¢cru¢d as expenditure. Where milestone5 are not mel. on occasions, grants payab￿ are refunded to the th8rily. The8e 8re recognised when il 18 (Ertain that the funds are to be returned are shown as ¢redits wlthin'granks payab￿.. Cliarltable activittes Costs of charitable a¢tivilie5 comprise grants payable lo inslitulion8, donations, professional fees incurrd in ascertaining whether MI￿810neS have beèn rnel, allocated support costs and govemance costs. Allocation of support and governance costs Support costs have be8n sllocaled between govemancè costs and othersupport cost8. Governance ¢omprises all cost5 involving the public accwntabilily ol the charity and its compliance Mith regulation and good practice. These costs include costs ielating to slalutory audit and ￿gaI fees, together with the apportioomenl of overhead and 8UPPOrt costs. Page 10

J P MOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEEI DETAILED STATEMENT OF F5NANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES Icontinuedl Allocatlon of support and governance costs Icontinupd These costs a￿ allocal&d lo charitls activities of grant making arKI donation givii)g. The oharily identifies the cos101 ils support function. It then identifies those costs which relate lo the governance function. Having identified its governar￿8 eosls the remaining support costs, together with Ihe 9overnance costs are allocated ID Ihe charitable aolivily. Support cost$ are minimal In the Context of thè chaiily. They are shown as being wholly apportioned lo ils granl making a¢livilie5 which could be furthei split between gr8nl8 payable lo Institutions and don31ions. Any apportionment of costs lo donations would be minimal. Taxation The charity 18 exempt from ¢orporation tsx on ils charitable activities. Fund accountlng The Charity only has a general fund vthi¢h is unrestricted fund5 and available for use &tthediscrelion of the Iiustees to fund Ihe cl￿nical trials wliich have mel Iheir mile3lone5 and lo provide donations 10 those causes considered by the IfUSt888 to be an appropi'iate use olthÈ funds, Debtors Other debtors are recognised at the amount due. Prepayments are valued at the amount prepaKI, nel ol any trade discounts due. Creditors and provisions Creditors and provisions are recDgnised where Ihe charity has & pre5enl obligation resulting from a past evenl th&t 11 probably result in ihe Iran$f@r of fvnds to a third party and the amwnl du8 lo seltle Ihe oblig81ion can be measured or eslimaled rtliably. Flnancial instruments The charity only has financial assets and finan¢>al liabilities ol a kind Ihal qualify as basi¢ financi21 instruments. Basic h'nancial insliumenls are inilHlly recognised al transaction value and subsequenlly measured at their setll&mani value. 3. DONATION8 AND LEGACIES 2023 2022 Donations 881250 INVESTMENT INCOME 2023 2022 Other interest r8ceivable Bank interest re￿ivab 54 302 16,523 2,035 CHARITABLE ACTIVITIES COSTS Grant fundlng of activities (See note Gl Support ¢osts (See note 71 Dlrect cost5 Totsls Grants payabl 192,024 7.710 199,734 Page 11

J P MOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEE) DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DÈCEMBER 2023 GRANTS PAYABLE 2023 2022 Grants pay8b 192024 115,695 GRANTS PAYABLE- INSTITUTIONAL 2023 2022 Imp8rial College London Barts Ch2rily Scar Free Foundation University tsf Sheffield Exeter University 87,024 75,000 30.000 4S.638 70,057 Totsl 9Tant payments 192024 115,695 All gr8nls payable are for medical iesearch projects. SUPPORT GOSTS Gov8rnanc e05ts Other Totsls Gran1$ p8yable 580 7,130 7,710 Support costs, included in Ihe abc>ve, are as follows." 0th8r 2023 2022 Total a¢￿vItIe$ Grants payable Sundry expenses ank Charges Computer expenses 13 382 18 413 527 53 Governance costs 2023 2022 Grants payable Totsl actlvitie5 Independenl Examinels fees A￿D￿￿tancY and taxation 4,164 2,966 7,130 3.960 2,710 6.670 Page 12

J P MOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED BYGUARANTEEI DETAILEU STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 NET EXPENDITURE Nel expe￿ilUre is slated after charging.. 2023 2022 Independent Examinevs fee 4,164 3.690 Accounlancy and laxalion services TRUSTEES. REMUNERATION AND 8ENEFITS There were no trvslees, remuneration or other benefits for the year ended 31 t)ecemb8r 2023 nor for the year ended 31 December 2022. Trustees, èxptrnses The￿ were no Irust88s' expenses paid for the year enL%ed 31 December 2023 nor lor the year ended 31 Detsn)ber 2022 10. STAFF COSTS The¥e were no staff ¢osts lor the yearended 31 December 2023 nor lor the year ended 31 De¢emb8r 2022. The average number of employees in the yearw8$ nil12022.' nill. 11. DEBTORS.. AldiOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Other deblois 19,525 156,550 156.550 19.525 12. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Accruals and deferred income 6,168 7.000 7.000 13. MOVEMENT IN FUNDS N8t mov8m8nt In fund8 At 111123 At 3111Y23 Unrestrlcted funds General lund 1 313527 85,5861 B5.5861 1.227,941 TOTAL FUNDS 1.313,527 1,227,941 Nel movement in funds, induded In the above, are a5 follows. Incomlng $ources Resources Movement i expended fund8 Unrestrlcted funds Gen8ial fund 114,148 114 148 199.734 85,5861 85.5861 TOTAL FUNDS 199734 Page 13

J P MOLILTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEEI DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 13. MOVEMENT IN FUNDS Icontinuedl Comparotives for moveiment itl funds Net movement In funds At 111122 At 31112122 Unrestrict&d funds General fund 553.020 553,020 760,507 7eo 507 1.313.527 1,313.527 TOTAL FUNDS Nel movement in funds. included in the above. are as follows". Resources Movement l¥) expended funds resource8 Unrestrlcted funds Geieral fund 883 285 122,778 122,778 76D.507 76D,507 TOTAL FUNDS 883,285 14. OTHER FINANCIAL COMMITMENTS Totsl 2QZ3 Total 2022 At 31 December 2023 th8 charity had commibnents as lollim.. Commitment5 in iespect olgranls approved for projects which have not been accrued in the finanual slalements but wh￿h will form part of grants P8y3ble in future periods". Within one year 8elween one and Iwo years Between Iwo arKI Ihree y8ar8 1,079.761 10.000 609,693 353,D85 10,DOO 1,089 761 972,778 Grants are awarded and asse5$ed in temis of milostones These mileslones serve as a basB on which lo make payments. Given the nature of ￿rtain research activities undertaken, the liming ol milestones 15 not always absolute and subjed lo possible delay. This providos an element ol U￿rtainlY with regard lo the timing of lulure grant payments. There ale a few grants pencling the foimalisation ol milestones for which the litning has either been estimated where possible or detailed as yel to be deterinined. The onooin9 funding is subject to ead) project achieving 115 mile51onès which are monitored by the Trustees. These cornmitfflpn15 will be funded from lulvre donations receivablo. 45. RELATED PARTY DISCLOSURES The ¢harilable Company received cash donat￿n$ from Mr J Mouiion £19.50012022.. £nill an(5 Mr S Moulton £nil 12022.. E750.0001, both of whom are IruslÉe8 16. ULTIMATE CONTROLLING PARTY The charitable Gompany is under the ultimate control of ils Iruslees, Mr J P Moullon. Mr S P Moullofi and Dr H Critchley. Page 14