J P MOULTON IARITABLE FOUNDATION 10 Buckinghihi Sl>¢et L([£7Wc2N 6DF jon@>pmfOh&ln.Cts.thk helen@Ipmfi>undation.L¥Kuk (b¥AY 11098YI Charity Commission No. 1109891 Annual Report 2024- 2025 th Covering the year from 25 September 2025 to 10th September 2025 Item Page AGM Agenda Trustee Committee Members Reports: Chair The Trustees, Annual Report and Accounts are available for inspection at the AGM. th Wednesday 10 September 2025 AGM Agenda and Presentation of Report and Accounts l. 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 Secretarv Helen Critchley Trustees J P Moulton S J Moulton H P Critchley Other Supporting Roles Independent Examiner: Amicus Accountancy Limited Chartered Certif led Accountants The Stables Goblands Farm Business Centre Cemetery Lane Hadlow Kent TNII OLT J P Moulton Charitable Foundation Annual Report and Accounts 2024 - 2025
Reports Chair's Report The Foundation continues to meet its aims and objectives to fund non- commercial clinical trials with the aim to make clinical advances and promote the relief of suffering. Since the last AGM, no new funding awards have been approved. 4 trials have completed recruitment and presentation meetings of the results are to be arranged when full data analysis has been completed. There are currently 5 active trials. Treasurer's Report st The accounts cover the year to 31 December 2024 and have been subject to independent review. st The accounts were approved by Jon Moulton on I September 2025. St The accounts made up to 31 December 2024 were submitted to Companies House on time. st The Charity Commission annual return for 2024 is due by 31 October 2024 and will be filed within the required reporting timelines. Future Companies House Filing: st th Next accounts made up to 31 December 2025 due by 30 September 2026 th th Next statement date 13 December 2025 due by 27 December 2025 Future Charity Commission Filing: st Annual Return due by 31 October 2026 Accounts and Trustees Annual Report {TAR) due by 31 October 2026 st There are enough funds available to cover the Charities current commitments. J P Moulton Charitable Foundation Annual Report and Accounts 2024- 2025
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 2024 FOR J P MOULTON CHARITABLE FOUNDATION (A COMPANY LIMITED B Y GUARANTEE)
J P MOULTON CHARITABLE FOUNDATION {A COMPANY LIMITED BY GUARANTEE) CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Refeien¢e and Admlnislralive Details Report of the Trustees 2to4 Independent Examinerfs Report Slalemenl of Financi81 Activllies 8alance Sheel Cash Flow Slalemenl Nol85 lo the Cash Flow Statement Noles lo Ihe Fin8nci81 Slalemenls 101014 Delalled S18t8menl of Financial Aclivilies 15
J P MOULTON CHARITABLE FOUNDATION {A COMPANY LIMITED BY GUARANTEE) REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024 YRUSTEE5 J P Moulton S J Moulton Dr H Crilchley COMPANY SECRETARY Lk H Critchley REGISTERED OFFICE 10 BuCkIn18M Streel London WC2N 60F REGISTERED COMPANY NUMBER 05311748 (England and Wales) REGISTERED CHARITY NUMBER 1109891 INDEPENDENT EXAMINER AmiGu$ Accounlary Lld Ch8rtered Certif18d AccountAnls The Slab18S ClandS Fam) Bus1rS Centre Cemetery Lane Hadl(Iw Kenl TN11 OLT BANKERS Coulls & Co 440 Slrond London WC2R OQS CHIEF EXECUTIVE OFFICER J P Moulton Page 1
J P MOULTON CHARITABLE FOUNDATION {A COMPANY LIMITED BY GUARANTEEI REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees. who are also direclors of the charity for the purposes of the Companies A¢1 2006, present their report with the financial slalemenls of the charily for Ihe year ended 31 December 2024. The Irustees have adopted the provisions of Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic ol Ireland {FRS 102) IissLted in Oclober 20191- OBJECTIVES AND ACTIVITIES Purposès and actlvltiés The purposés of the charity are.. lo fund non-commercial clinical Irials with Ihe aim lo make dinical advancas and promote fhe relief of suffering. lo provide charitable donations for Community seThice kvojecls of any kind lo promote education, training and counselling of disadvantaged persons., - lo provide donations lo hospitals. medical and car8 projects of any kind lo assist with the general welfare of p81ients. The vision that shapes our annual activities remains Ihè advancement of medical knowledge by the provision of funds lo inslilulions carrying out dinical trials in order to improve th8 quality of life of sufferers. The eharily also has a genèral aim ol conlribuling to projects lo fiJrth8r the social and educational welfare of communilies. The Trustees award grants on the perceived merits of applications which are made tc the charita18 foundation in writing. In shaplng our oblecllves for the year and planning our funding acllvilles. Ihe Trusl8es have considered the Charity Commission's guidance on public benefil, including the 9uidance 'Publlc Benefil.. running a charity IPB21'. We endeavour lo fvlfil these responsibilities. as wr donalicns are localty lor Ihe benefit of Gommunilies and our dinical trials funding is for the general populalion. The slralegies employed to achieve the charity's aims and objectlves are to.. advertise to encourage inslilulions and community projects lo apply for available funding., monitor the ongoing clinical trials lo ensure Ihal mlleslon6s are being mel, lo ensure Ihal the funding is directed lo tha most worthy trials. ACHIEVEMENT AND PERFORMANCE Charllable actlvlties Since Ils inception the charity has funded over 100 clinical trials which have been selected based on high quality science and the potential lo have a direct patient benefit. The trials have been conducled in a wde range of therapy areas and range from first in human lo new uses for linCed drugs. During Ihe past 12 months several of the trials have completed and presented their ie8ulls lo Ihe Trustees and we have funded a new trial looking al deep brain stimulation in palienls with Parkinson's disease. In addition. we have donated lo other medical charities lo help them fund vilal dinical resaarch. The charity has supported ground-breaking research in diseases Ihal struggle lo obtain funding from other lunders as they do not lulfil their funding crileria e.g. head and neck ¢ancer and vaccine supply. We have previously also entered into joint venlur8s wilh other medical ch8ri1ies lo help support larger trials. Due lo the increasing adminisl¥alive burden laced by researd)ers conducting non-commercial clinical research, predicted timelines for some trials do slip. However. regular reporting of perfonmance helps lo ensure that milestones are met. The Trustees are able lo prowde guidance and support to projecls that slruggle lo achieve the anlicip21ed project timelines. Approximately 30Yo of applications receive full or partial lunding and the charity has provided over £22 million in funding lo dale. The income and expenditure for the year are sel out in the statement of finanual activities. The nel movement in funds for the year was a deficit of £590.044 12023= £85,586), resullirvJ in a fund surplus Garried forward of £637.897 (2023: £1,227.941). The foundation continued lo provide grants for medical research projects lotalling £179,653 {2023.' £192.0241. Grants are generally made in inslalmenls and the Trustees review ihe ongoing perfom)ance of these research projects to ensure that these are operating within expectations prior lo any further grants being released. Page 2
J P MOULTON CHARITABLE FOUNDATION {A COMPANY LIMrrED BY GUARANTEEI REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVIEW Financlal positlon Al the balance sheet dale, the charity's reserves were in surplus by £637,89712023.. £1,227.941). These are unrestricled reserves and available for the gener81 purposes of the charity. At the year end there are grant commilmanls of £906.249 (2023.. £1,089.7611- These commitments span future accounbng periods and are detailed al note 14 to the financial slalements. Prlncipal funding sources The charity's principal funding source of income are donalions from Mr J P Moulton. Mr S J Moullon (Trusleesl and other high nel worth individuals. The financial support of th6 Trustees continues lo be essential in mainlaining and protecting ils current funding commitments lo ensure Ihal the charily operates as a going concem. Mr J P Moullon ha5 indicated that he is willlng lo continue donating funds for the foreseeable luture so Ihal the Foundation may meets its financial commilmanls. Reservès polley and goin9 concern ReseNes are needed lo bridge Ihe gap between the spending and receivi of income and io cover any oveiheads. The Tnfslees have reviewed the risks asswaled wilh receiving enough future income to cover its funding commitments and have concluded that there ar8 enough high net worth individuals supporting the charily for it to be able lo continue in operallon until its obligations are fulfilled. Pay policy for trustees All Trustees give their lime freely. FUTURE PLANS The charity will continue to fund its exisling financial commilmenls. However, a new charity has been established in Gu8rn$ey, The Jon Moullon Charity Trusl. Calls for future (unding will b8 via Ihat charity which will likewi88 fund Ihos8 successful grant appllcallons. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The company is regislerod as a charitable company limiled by guarantee and was sel up by the Memorandum of Association on 10 December 2004. The company is consllluled under a Memorandum of Association daled 10 December 2004 and is 8 regis18red charity number 1109891. The principal 8nd regislered office together with the person5 vtho seNed as Trustees during the year and their relevanl posilion on the Board and any office held are listed under'Reference and Adminislralive delails,. Racrultmant and appointment of new Trustees The management of the company is the responsibility of the Truslees who are elected and co-opted under Ihe lem)s of the Articles of Asso¢iallon. Induction and tralnlng of new Trustees The ch8rilable foundation is relying upon Ihe guidance issued by ihe Charities Coynmission in relation lo Induction and training of Truslees. Indlviduals wishing lo become Iruslees apply by written aptAicalion and are app)inled by a resolution of the members if Ihoy are considered to be suitable for ihe vacancy that exists. Management of the charily The day-lo-day management of the charity resls wilh Ihe Twslees. PUBLIC BENEFIT When considering the charitable companvs aclivilies, the Truslees have complied wilh Iheir duly undef s17151 of the Charities Act 201110 have due regard lo the Charity Commission's general guidance on public benefit. Page 3
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF J P MOULTON CHARITABLE FOUNDATION (A COMPANY LIMITED BY GUARANTEEI FOR THE YEAR ENDED 31 DECEMBER 2024 STATEMENT OF TRUSTEES RESPONSIBILITIES The trustees {who are also the directors of J P Moullon Charifable Foundation IA company limited by guarantee) for the purposes of company law) are responsible for preparing the Reporl of the Trustees and the fin8ncial slalemenls in accordance with applicable law and United Kingdom Accounling Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 "The Financial Reporting Standard applic8ble in Ihe UK and Repltblic of Ireland.. Company law requlres the Iruslees lo prepare fin8ncial slal&menls for each financial year which give a true and fair view of the slate of affairs of Ihe charitable company and ol the incoming resources 8nd application of resources, including the income and expenditure, of the charitable company foT Ihal period. In preparing those financial slalemenls. Ihe trustee$ are requireLS to.. select suitable accounting policies and then apply Iham consistently., obseNe the meihods and principles in Ihe Charity SORP-. make judgements and eslimales thal are reasonable and prudenl; prepare Ihg financial slaleTnenls on the going concem basis unless il is inappropriaie to presume that the charitable company will continue in business. The Iruslees are responsible for keeping proper accounting records which disclose wlh reasonable accuracy al any Lime the financlal posltlon of the charliable company and to enable Ihem to ensure Ihat Ihe financial slalemenls comply with the Companies Act 2006. They are also sponsible for safeguarding the assels of Ihe charitable company 8nd hence for taking reasonable sleps for the prevenllon and detection of fraud arml olh8r Irregularities. Approve by rder of Ib oard of Iru51ees on - fitty4eÉo025 and signed ils behalf by.. S J fvloull - Trustee Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF J P MOULTON CHARITABLE FOUNDATION {A GOMPANY LIMITED BY GUARANTEE) FOR THE YEAR ENDED 31 DECEMBER 2024 I reTth lo lh8 charity tnjstees on my 8x8rninalth ofil 8ox)unts dlhe ccthpany f Ihè year ended 31 00Mber2024, wfikh are sel oul on pa5 81014. RESPONSIBILITIES AND BASIS OF REPORT As Ihe challty tnJsie&s otlh8 CA)mpAny laThl also its directws lorlho Of(} bwl )U are respwlJe forth prepar311 ol the ac£ots In aCcordar with ro4inremenls of Ihe (Xynpw¥86 Acl 2)6 ¢the 2{ Act,). Having salisfied my5dllhat the a(rounlsoflh6 cory)any aré rnxrequlred lo be alIted LndèrPart 16 of th8 2006 Acl and are eliglble lorlndependenl examinaikn. I retK>rt In respect ol myÈXan¥naIk ofyour¢xvnp8rys acc$ as c8thed thjt und 8eclion 145of Ihe Chari&S Aet 2011 {'tre 2011 Act'l. In out myexamln81kn1 have foll0vd the Dlrectkn$ Van ty the Chadty Crnis£(on under$a(Jkn 145(51(b)of the 2a11 INDEPENDENT EXAMINER'S STATEMENT I have comploled niy 8xInatIOn. I rthfirm thal no maliers have to my 8#enikn kn ed10nw1h Ihe examinaiion vhg me c4use to balievè Ihat In ary maw1 r88ped: accA)untiry rnix>rds wore nol kept kn respectoflh8 0)mpary as ty sectlon 386of Ihe 2Crf)6 ALI., or tha acLounL8 do nol aecord vAlh Ih088 rec<>rds'. LY 10 8ce£)un18 do nol cnmply Ihe atTAKJng r8qu11erts clwtbn 396 oflh8 2(Kk8 kl olh8rlhan any rffjuhymenl th81 Ihe Bccoun15 oive g'lnje 8nd whlch 1$ nol 8 m8rf9rconsltl8r&J as parl ofan indep8ndent examlnatk)n', or the aG¢ounls hove nol boen wepared wi acc(Kdj¢e wlh tlk8 m8lhuls and prlndtts of Ihe Slalemenl of R8oirM)endad Placllee lor aCUnI1ng and pOilt bYChIlle5 apfvble to ch8riU6s rxap8ring Iheli acc4xJnts In aCrd8ncE wlh Ihe Financlal Rep)rlrtg St8ndArd apFai4e kn Lho UK ond RopuNcof Ireland IFRS 102). I have no cncers and havg (xirne 8¢ro89 rK) oiher m8ttor5 In conn&Yion Mfjlh the wmlnaion to 8ttenlion thould be drnwn In thls repori h order lo n8ble 8 proper uNlwstsrMlhg of acc4ymts lo b& ma(*1. FRnce5 Swe¥ling FCCA Assouallon ol Chartered C8rflflèd Acnts Amiojs Acw18ncy LFINted The Slabl8s Gob18nds Fatm 8u8lness Centr8 Cemetery Lone Hddtow KenlTN11 OLT Da.. Page 5
J P MOULTON CHARITABLE FOUNDATION {A COWIPANY LIMITED BY GUARANTEEI STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING AN INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Unrestrlcled fund 2023 Unrestrl¢tod fiind Notes INCOME AND ENDOWMENTS FROM Donallons and lègados Investment income 78.125 97,625 19.385 16,523 Total 97,510 114.148 EXPENDITURE ON Charltable actlvltl88 Granls payable Don8llon8 P8ld 187,554 500,000 Total 687,554 199,734 NET EXPENDITURE {590,0441 185,6861 RECONCILIATION OF FUNDS Total funds brought fomard TOTAL FUNDS CARRIED FORWARD 1.227.941 1,313,527 637,897 1,227.941 CONTINUING OPERATIONS All Income 8nd exp8ndllure h8s Èr189n fTOm conltnulng 8cUvlllo8. Thè notes form parl of these finaniial stalemenls Pag6 6
J P MOULTON CHARITABLE FOUNDATION {A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AT 31 DECEMBER 2024 2024 Unrestrictèd fund 2023 Unrestrlcted fund Notes CURRENT ASSETS Deblors Cash al bank 11 19,525 1,214,584 644,022 644,022 1.234,109 CREDITORS Amounls falling due within one year 12 {6,125) {6,1681 NET CURRENT ASSETS 637,897 1,227,941 TOTAL ASSETS LESS CURRENT LIABILITIES 637,897 1,227,941 NET ASSETS 637,897 1,227,941 FUNOS Unreslricled funds.. General fund 13 637.897 1,227.941 TOTAL FUNDS 637.897 1,227,941 The charitable company is enliiled lo exemption from audil under Section 477 of the Companies Act 2006 foi the year ended 31 December 2024. The members have nol deposiled nolice, pursuanl lo Sectk)n 476 of the Companies Act 2006 requlring an audil of thes8 flnanclal slatemenls. The Iruslees acknowledge Iheir responsibilities for lal ensuring th81 the charitable company keeps ac¢cntIng recnrds that comply wilh Sections 386 and 387 of Ihe Companies Act 2006 8nd preparing financial slalemenls which give a true and fair view of the stale of affairs of the charitable company as al the end of each financial year and of ils surplus or deficit for each financial year in acconlance with the requlremènls of Sections 394 and 395 and which olhetwise comply with the requirements of the Companies Act 2006 relaling lo financial slalemenls. so far a5 applicable lo the chantablo company. {bl These financial slalemenls heve->een prepared in accordance with Ihe special provisions of Part 15 of the Compani95 Act 2a06 relating lo charitable sm companies. pprov8d by the Board of Trustees on 3. P-E£ rL 2025 and were signed on ils The financial slalements,w behalf by.. Ilon -Twsl The notes form part of Ihese financial statements Page 7
J P NIOULTON CHARITABLE FOUNDATION IA COMPANY LIMrrED BY GUARANTEE) CASH FLOW STATEMENT FOR THE YÉAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flows from operating activities: Cash generated fromllused inl operations 589.947 34,084 Cash flows from Invesling activities: Interest recelved 19.385 16,523 Net cash provlded by investing activities 19.385 16.523 Change In cash and cash equlvalents In the reportln9 period {570,562) 50.607 Cash and ¢a$h equlvalents at the beginning of the reporting perlod 1 214 584 1,163,977 Cash and cash equivalents at the end of the rèporting perlod 644,022 1,214,584 The notes fonn part of these financial slatemenls Page 8
J P MOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net expenditure for the reportlng period las per the statement of financial activilie$l {590,044) 185,586) Adjustments for: Interest received Decrease in deblors Oecr8ase in creditors 119,385) 19,525 43 116,5231 137,025 832 Net cash used In operatlng actlvltl8S 589 947 34,084 Page g
J P MOULTON CHARITABLE FOUNDATION {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 GENERAL INFORMATION J P Moullon Charitable Foundation is a company limiled by guarantee and has no share capital. It is incorporated in England and Wales and ils rngislored offe is 10 Buckingham Sireel. London, WC2N 6DF. The principal activity of the company is disdosed in the Report of Ihe TnJsl8es. The members of the charitable ccwnpany are the Trustees nam8d page 1. In the event of Ihe charitable company being wound up, Ihe liabilily in respect of the guarantee is limiled lo £10 per member. ACCOUNTING POLICIES Basls of preparlng the flnanclal statemenls and assessment of going concern The financial slalements of the charilable company. which is a public benefit entily under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo ch8riiies preparing Iheir accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic ol Ireland (FRS 1021 (issued in October 20191,, Financial Reporting Slandard 102 'The Financial Reporting Standard applicable in the UK 8nd Republic of Ire18nd' and Ihe Companies Act 2006. The financial slalemenls have been prepared under the historical cosl convenllon. The financial statements are prepared in slerling. vthich 15 the functional currency of the enlily, and rounded lo the ne8resl £1. The Truslees believe it appropriale lo adopl lh& going concern basis of accounllng In preparing the annual financial slalemenls and consider that Ihere are no malerfal uncertainties aboul ils ablllly lo conllnue. A p8rsonal commilmenl has been given by J P Moullon {Truslee) lo continue his financial suppoil of the charitable company for Ihe foreseeable fulure, in particular so Ihal It may lulfil ils financial comrnilmenls. Th8 Trusle8s consider Ihal there are no key assumptions or estimates Ilial need separate dil03ure. The charity conslilules a public benefil enlily as defined in FRS102. Income All income is recognised in the Slalemenl of Financial Activities once the charity has enllllemenl lo the funds, il Is probable that the income will be received and the amount can be measured reliably. Donations and gifts are brought inlo accounl when received. Oonaled serVS are Included al the value lo the chadly where Ihis can be ouanlified. Interest receivable is recognised on an accruals basis. Expendlture Liabilities are recognised as expenditure as soon as there is a legal or conslruclive obligation commllling the charity lo that expenditure, il 15 probable that a transfer of economic benefits will be required in selllemenl and Ihe amount of the obligation can be Ineasured reliably. Expenditure is accounled for on an accruals basis and has boon classified under headings that aggregate all cost relaled lo the calegory. Where costs cannot be directly allribuled lo particular headings. they have been allocated to aclivilie5 on a basis consislenl with Ihe use of resources. Grants payable are charged in the year when ihe offer is made excepl in those cases where the offer Is conditional, such granls being recognised as expendiiure when the condilions allaching are fulfilled. Grants offered subject to conditions which have nol been met al the year end are noled as a commilmenl, bul not accrued a5 expendilure. Where milestones are not rnel, on occasions. grants payable are refurKled lo the charity. These are recognised when il is certain that the funds are lo be returned and are shown as ci'edils within 'granls payable.. Charitablè activlties Cos18 of charitable activities comprise grants payable to insiilutions, donations, professional fees Incurred in ascertaining whether mileslones have been mel, allocated support costs and govemance costs. Page 10
J P MOULTON CHARITABLE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Allocation of support and governance costs Support costs have been allocated belween govemance costs and olher support costs. Governance comprises all costs Involng tha public accounlabilily of Ihe charity and its compliance with regulalion and good practice. These costs include costs relating lo slalulory audit and legal fees, together with the apportionment of overhead and support costs. These costs are alloc81ed lo the charity's a¢livities of grant making and donal¢on giving. The charity identifies Ihe cost of ils support function. 11 Ihen identifies those costs which relat8 lo the governance function. Having identified ils goveTnance costs the remaining support costs, together with the governance costs are allocated lo the charitable aclivily. Support costs are minim81 in the conlexl of the charity. They are shown as being wholly apportioned to Ils granl maklng activities which could be further split between granis payable lo inslilulions and donations. Any apportionmenl of costs to donations would be minimal. Taxation The charily is exempl from corporation tax on its charitable aclivilies. Fund accountlng The charity only has a general fund which is unreslricled fL*nds and available for use al the discretion of the Iruslees lo fund the clinical Inals which have Inel Iheir milestones and lo provide donations lo those causes consldered by the trustees to be an appropnale use o( Ihe lunds. Debtors Other debtors are recognlsed at the amount due. Prèpayments are valued al the amount prepaid, nel of any Irada discounts due. Credltors and provlslons Creditors and piovisions are recognised where the charity has a present obligallon rasulllng from a past event that will probably result in the transfer of lunds lo a third parly and the amount due to sellle Ihe oblig81ion can be measured or eslimaled reliably. Financlal instruments The charity only has financial assels and financial liabililies of a kind that qualify as basic financlal Inslrurnenls. 88sic fin8nclal insliuments are inilially recognised at Iransaclion value and subsequently measured al their seiilemenl v81ue. DONATIONS AND LEGACIES 2024 2023 Donations 78,125 97.625 4. INVESTMENT INCOME 2024 2023 Other interest receivable Bank interest receivable 39 19,346 19.385 16,469 16.523 5. CHARITABLE ACTIVITIES COSTS Grant funding of aclivlties {See note 6) Support COStS (See note 7) Direct costs Totals Grants payable 179,653 7,901 187,554 Page 11
J P MOULTON CHARITABLE FOUNDATION IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 GRANTS PAYABLE 2024 2023 Grants payable 179,653 192,024 GRANTS PAYABLE - INSTITUTIONAL 2024 2023 ImperiAI Colleg& London Barts Charity Scar Free Foundation University of Birmingham Oxford Hospitals Royal Osleq)or()sis University Colle9e London 32.975 87.024 75,000 30,000 91,722 44,330 14,485 13,859) Total grant payments 179,653 192,024 All grants payable are for medlcal research projects. 7. SUPPORT COSTS Governanco costs oiher Totals Grants payabl8 546 7,355 7,901 Support costs, included in Ihe above. are as follows.. Other 2024 2023 Grants payable Total actlvitles Bank charges Compulei expenses 533 13 546 527 53 580 Governance cost5 2024 2023 Grants payable Total activltles Independenl Examinerfs fees Accountancy and laxalion 3,290 4.065 7.355 3,210 3,920 7,130 Page 12
J P MOULTON CHARITABLE FOUNt)ATION (A COMPANY LIMITEE) BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 NET EXPENDITURE Nel expenditure is staled after charging.. 2024 2023 Independent Examinerfs fee 3.290 3,210 AccoLfntancy and tsxalion services 4,065 3,920 TRUSTEES. REMUNERATION ANO BENEFITS There were no trustees, remuneralion or other ben6fils for the year ended 31 December 2024 nor for Ihe year ended 31 December 2023. Trustees. expenses The were no trustees, expenses paid for the year ended 31 Dec£mber 2024 nor for Ilie year ended 31 December 2023. 10. STAFF COSTS There were no staff costs for the year ended 31 December 2024 nor for Ihe year ended 31 December 2023. The average number of employees in the year was nil (2023: nil). 11. DE8TORS; AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Olher debtors 19,525 19,525 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accruals and deferred income 6,125 6,168 6,168 13, MOVEMENT IN FUNDS Net movement in funds At 111124 At 31112124 Unrestricted funds General fund 1,227,941 1.227.941 590.044) 590.0441 637,897 631,897 TOTAL FUNDS Nel movement in funds, included in the above. are as folksws: Incomlng resources Resources expènded Movement in funds Unrestricted funds General fund 97.510 687,554 687,554 590,0441 590.044) TOTAL FUNDS 97,510 Page 13
J P MOULTON CHARITABLE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 13. MOVEMENT IN FUNDS {continuedl Comparatives for movement In funds Net movement in funds At 111123 At 31112123 Unrestricted funds Gener21 fund 1,313.527 1.313 527 85,586) 85.586) 1,227,941 1,227,941 TOTAL FUNDS Nel movement in funds, Included in the above, are as follows= Incomlng resources Resources Movement in expended funds Unrestricted funds General fund 114,148 114,148 199,734 199.734 85,586} 85,5861 TOTAL FUNDS 14, OTHER FINANCIAL COMMITMENTS Total 2024 Total 2023 Al 31 December 2024 th8 charity had commilmenls as follows.. Commilnienls in respecl of grants approved for projecls which have not been accrued in the financial slalemenls bul which will form part of grants payable in future periods.. Within one year Between one and two years Between two and three years 510,056 216.193 180.000 1,079,761 10,000 906,249 1,089,761 Grants are awarded and assessed in lemis of mlleslones. These milestones seNe as a basis on which lo make payments. Given the nalvre of certain research aclivilies undertaken, Ihe liming of milestones is not always absolute and subject to possible delay. This pmvides an element of uncertainty wilh regard to the liining ol future grant payments. There are 8 few grants pending Ihe fomalisalion of mil&slones for which the liming has eilher been eslimaled where possible or detailed as yel lo be determined. The ongoing funding is subject lo each projecl achieving ils milestones which are rTK)nllored by the Trusle8S. These commitments will be funded from lulure donations Teceivable. 15. RELATED PARTY DISCLOSURES Th8 charilable company received cash donations from Mr J Moulton lolalling £nil (2023- £19.500), who 15 a Iruslee. A donation of £500,00012023'. nil) was made lo the Jon Moulton Charity Tru51 (Guemseyl during the year, a charily wliich Mr J Moullon and Mr S J Moulton are also Iruslees. the charity has the samè chaTttable objectives. 16. ULTIMATE CONTROLLING PARTY The ¢harilable company is under Ihe ultimale control ol ils trustees. Mr J P Moullon, Mr S P Moullon and Dr H Critchley. Page 14
J P MOULTON CHARITABLE FOUNDATION (A COMPANY LIMITED BY GUARANTEEI DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 INCOME AND ENDOWMENTS Donallons and legacies Donations 78.125 97.625 Investment income Interest receivable 19,385 16,523 Total Incomlng resources 97.510 114,148 EXPENDITURE Charltable actlvltles Grants lo inslilulions Donatlons payable 179,653 500,000 192,024 679.653 192,024 Support costs Other Bank Charges Computer expenses 533 13 527 53 546 580 Governance costs A¢¢ounlan¢y and laxalion 7,355 7,355 Total resources expended 687.554 199,734 Nat expendlture 590,044 85,586 This page does not form part of the statutory financial stalemenls Pago 15