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**|
|<br>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 recoidsw*re 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 b*n 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 w*lhin'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 fL*nds, 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 r*eded 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
8uccessfL*I 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 coMp*y 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 ENE*ED 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 incurr*d 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