2025-03-31-accounts

Registered Charity Number: 1125867 Registered Company Number: 06621472

THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST

LIMITED BY GUARANTEE

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2025

THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST TRUSTEES’ REPORT FOR THE PERIOD ENDED 31ST MARCH 2025

Contents

	Page No
Trustees’ Report
Introducton	1
Objectves and Actvites	1-2
Achievements and Performance	3-7
Financial Review	7-8
Plans for the Future	8
Structure, Governance and Management	9-11
Statement of Trustees’ Responsibilites	12
Independent Auditors’ Report	13-15
Statement of Financial Actvites	16
Balance Sheet	17
Statement of Cashfows	18
Notes to the Financial Statements	19-25

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THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST TRUSTEES’ REPORT FOR THE PERIOD ENDED 31ST MARCH 2025

INTRODUCTION

The Trustees have pleasure in presenting their annual report for the purposes of the Charities Act 2011 and Sections 415 and 419 of the Companies Act 2006, together with the accounts for the year ended 31[st] March 2025. The Trustees have adopted the provisions of the Standard of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in July 2014, (FRS 102, effective 1st January 2015), in preparing the annual report and financial statements of the charity.

OBJECTIVES AND ACTIVITIES

The long-term objective of the Trust is to ensure that we enable the maximum number of returners who trained for a career in research to have a satisfying career in research. We will do so by increasing the number of hosts and funders of returners and by influencing employment and research policy to support this. To meet the main objective, we administer fellowship schemes for highly qualified and talented researchers, and research technical professionals who have been on a career break of two years or more for family, caring or health reasons. The fellowships are hosted in universities or research establishments throughout the United Kingdom and Republic of Ireland and are funded by organisations with an interest in the research being undertaken and in the support of returners. Current funders include, but are not limited to, research councils, universities, research institutes, charities, learned societies, professional institutions and industry.

In order to meet our objectives, we undertake the following key operational activities:

• Identifying and assessing the suitability of applicants to undertake the fellowships.

• Securing suitable host organisations and funders for the fellowships.

• Increasing the number of ongoing advertised funded fellowships, for which a funding agreement is made, the opportunity is advertised and the funder has an input to the selection of the most appropriate candidate.

• Retaining the Trust’s position as an expert on matters relating to returners to research careers after a prolonged break.

• Raising awareness of the Trust and ensuring that its philosophy is embedded in the talent management and recruitment strategies of all organisations whose success is reliant on the expertise of those trained to the highest levels in research and related careers.

• Taking action to ensure the Trust’s future financial sustainability.

Fellowships and Funding

High quality processes to underpin the selection, appointment and monitoring of fellows are core to our success and we keep these under careful review. These include:

• A competitive selection procedure, applying eligibility and suitability criteria.

• A rigorous application process, with deadlines, during which the applicant has support, guidance, advice and mentoring on a one-to-one basis by a fellowship advisor.

• Selection of fellows by an experienced Awards Assessment Panel.

• Systems to monitor and support fellows during their fellowship.

• Training courses for fellows.

It is still the case that many, very talented, researchers and research technical professionals who have been on a career break find that their confidence has been eroded, their skills are out of date and they require much support, mentoring and guidance on a one-to-one basis in order to become competitive in the work place once again. The experience of the Trust’s staff and the Awards Assessment Panel members involved in the selection of fellows is important as our fellowships are quite unlike any other currently available in academia or industry. Both prior education and experience, and an assessment of the candidate’s potential to make a successful return to a research

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THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST TRUSTEES’ REPORT FOR THE PERIOD ENDED 31ST MARCH 2025

OBJECTIVES AND ACTIVITIES (Continued)

career are considered and tailored support, mentoring and guidance are offered by the candidate’s assigned fellowship advisor who coaches them through the application process and, if successful, throughout the period of the fellowship. It is the extra support that is offered during the application process and throughout the fellowship that has led to the overwhelming success rate of Daphne Jackson Fellows in re-establishing themselves in their chosen careers. Our expertise in understanding the issues facing returners allows the fellowship advisors to support each applicant to design a research and retraining programme for their fellowship that reflects their personal circumstances, the nature of their break, their needs and career aspirations. Having commenced the fellowship, the fellows are assisted and monitored at regular intervals and using a variety of methods by their fellowship advisor to ensure that they are maximising the opportunities available to them to reestablish themselves on their chosen career path.

Fellowships have moved towards three years being the normal duration, rather than two years and are part-time, however there is flexibility in the full time equivalent (FTE) and duration of fellowships to meet the particular needs of the Fellow or the sponsor.

Whilst we provide the infrastructure and dedicated staff to recruit and retrain fellows and administer the awards, funding by external organisations and hosts is fundamental to us being able to deliver our mission. We therefore work hard to identify suitable new funders, as well as continuing to enhance our relationships with existing stakeholders. The income we receive for funding is recorded as restricted income; it includes fellows’ salaries, associated costs and expenses together with a fellowship support cost. For each funding arrangement, the fellowship support cost is transferred from restricted income into unrestricted income for the Trust’s general expenditure. The Trustees place high importance on maintaining a suitable level of unrestricted income to support the Trust’s work and so it is vital that we maintain the current levels of fellowships awarded.

Donations

General donations to the Trust, unrestricted in their use, are an important income stream for the development of the Trust’s work. Donations for a particular purpose, such as the Trust’s biennial Conference, are increasingly important. Raising awareness of the Trust’s work is essential to increasing the number of potential donors of unrestricted income and is an ongoing objective.

Events, impact and networking

Returning a researcher to a long-term career in research has clear benefits for the individual, their employer and the UK economy, therefore tracking fellows’ careers post-fellowship is of vital importance. In addition to maintaining contact with our fellowship network, we also conduct a survey of former fellows every five years, with the next one due to take place in 2025. The data from this survey will be analysed and the Trust will publish its second Impact Report in late 2025 or early 2026. This report will demonstrate the importance to individuals, funders, other stakeholders and government of returners and the impact of our work.

Bringing fellows together to build networks and share experiences is a key part of the Trust’s work. The Trust does this in a number of ways, including promoting networking via LinkedIn, encouraging Daphne Jackson Fellows to meet up informally with other fellows, and organising larger networking events – in person and online.

With the increased awareness and activities to improve equality, diversity and inclusion (EDI) for all protected groups in research and related careers in Higher Education, the Trustees are proud of the Trust’s track record and unique agenda-setting role in making the case for returners. We will continue to work collaboratively with all stakeholders with an interest in this important area.

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THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST TRUSTEES’ REPORT FOR THE PERIOD ENDED 31ST MARCH 2025

ACHIEVEMENTS AND PERFORMANCE BETWEEN 1 APRIL 2024 AND 31 MARCH 2025

Fellowships

The Trustees are pleased to report that the fellowship pipeline is being maintained. Funding levels remained robust and the Trust continued to advertise funded fellowship opportunities throughout the year as well as making arrangements with new sponsors who have not previously worked with us.

The Trust has succeeded in encouraging more funders to move to three-year awards, with 81% (71 out of 88) being undertaken for this longer duration. This marks an increase in the number of threeyear awards from 2022 (52%). A longer duration is increasingly showing more success postfellowship.

In the period covered in this report 23 new fellowships commenced, 48 were ongoing and 17 completed, giving a maximum number of 88 fellowships at any time in the period. These fellowships are hosted and funded by a range of organisations, listed below.

Current Host Organisatons

The Trust is delighted that the following 45 organisations are hosting Daphne Jackson Fellowships, many of them hosting multiple fellowships:

Abertay University University of Birmingham Alan Turing Institute University of Bristol Aston University University of Cambridge Birkbeck, University of London University of Central Lancashire Cardiff University University of Edinburgh Courtauld Institute of Art University of Exeter Coventry University University of Glasgow Durham University University of Greenwich Heriot-Watt University University of Huddersfield Imperial College London University of Kent John Innes Centre University of Leeds Keele University University of Leicester Kings College London University of Liverpool Liverpool John Moores University University of Manchester London School of Hygiene & Tropical Medicine University of Nottingham London South Bank University University of Oxford Natural History Museum University of Portsmouth Nottingham Trent University University of Reading Queen Mary University of London University of Roehampton Queen's University Belfast University of Surrey University College London University of Warwick University of Aberdeen University of York University of Bath

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THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST TRUSTEES’ REPORT FOR THE PERIOD ENDED 31ST MARCH 2025

ACHIEVEMENTS AND PERFORMANCE BETWEEN 1 APRIL 2024 AND 31 MARCH 2025 (Continued)

Current funders

The Trust is delighted to be working with the following 38 organisations, who have funded the Fellows in post in the period covering this report, many of them fully or part funding more than one Fellow:

Alan Turing Institute Royal Society Alzheimer's Society Royal Society of Chemistry Animal Free Research School of Chemistry, The University of Applied Microbiology International (AMI) Edinburgh Astra Zeneca UKRI - AHRC Birkbeck, University of London UKRI - BBSRC Blood Cancer UK UKRI - EPSRC Breakthrough T1D UKRI - ESRC British Academy UKRI - MRC British Heart Foundation UKRI - NERC Daphne Jackson Trust UKRI - STFC Durham University University of Edinburgh Imperial College London University of Leicester John Innes Centre University of Manchester Kennedy Trust for Rheumatology Research University of Nottingham Macular Society University of Reading Medical Research Scotland University of Roehampton Orthopaedic Research UK University of Surrey Queen Mary University of London University of York Royal Academy of Engineering

Many arrangements are for the funding of more than one fellow and are ongoing with an agreement to sponsor every year or every two/three years, thus ensuring that the funding organisation has one or more Daphne Jackson Fellows in place at any time.

Research Technical Professional Fellowships

Work is continuing to develop Research Technical Professional (RTP) Fellowships, alongside the potential to develop support packages for universities looking to recruit returners into permanent technical professional roles. It has been a period in which there has been much to learn from this sector which is new to the Trust. Staff have attended a variety of conferences and events to raise awareness of our work to engage with research technical professionals. Emphasis has been on working with the academic sector, although Government Research Facilities and Research Institutes have also shown interest in engaging with returners.

Events

Training Courses, webinars and support for fellows

The revised training course programme offering four in person one-day courses and two online 90minute courses has been well received. The courses provide fellows with the skills to support their success both during and beyond their fellowship and enable our fellows to come together, support and advise each other. Courses are designed and facilitated by professional trainers and are held at locations around the UK.

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THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST TRUSTEES’ REPORT FOR THE PERIOD ENDED 31ST MARCH 2025

ACHIEVEMENTS AND PERFORMANCE BETWEEN 1 APRIL 2024 AND 31 MARCH 2025 (Continued)

Events (Continued)

The six training courses are:

• Professionalisation – Next Steps

• Publishing and Grant Writing

• In the Spotlight: Confidence and Communication

• Pitch Perfect and Infotopia

• Social Media for Researchers (online)

• Energy and Effectiveness: The Mythical Unicorn of Work-Life Balance (online)

Every fellow is expected to attend at least three courses by the completion of their fellowship. In addition to the core content, the courses provide essential and invaluable opportunities for fellows to form informal networks and provide peer support.

Webinars

A series of online webinars for fellows have continued and are still proving very popular. The format allows for a guest speaker, often a former fellow, followed by a Q&A from current fellows. These events regularly have around 30-40 fellows attending, along with some staff members.

Fellows networking event and conference

The fellows’ networking event and the conference are now permanent events in the Trust calendar and take place in alternate years. This offers the fellows the chance to come together as a cohort each year, with the networking event being more internally focussed and the conference is an opportunity to include all the Trust’s stakeholders, including funders, hosts, supervisors and key sectorial contacts.

The 7[th] biennial conference took place in November 2024 in London and was extremely successful with an enthusiastic response to our new research presentations “Your research, your way” as well as the research of our former fellows and developments of the Trust. It was the first event that allowed us to showcase the new brand, which was looking very impressive on big screens and was very well received by all who attended.

The conference started with an evening networking event for fellows, funders, and supporters. Hosted by one of our Patrons, Vivienne Parry, MBE, Daphne’s niece Susan Balgarnie gave a moving address about the inspirational and very real woman behind the founding of the Daphne Jackson Trust, and former fellow and current MP for Gravesham Dr Lauren Sullivan spoke about the importance of research in government.

The main conference day started with a “Your research, your way” session for all conference attendees, followed by the very popular “Five minute fellowships”, in which six former fellows have five minutes and two slides to explain their research. Winner Christina Andersen and runner up Sam Garrard gave very impactful short presentations about how their fellowships allowed them to return to research after unexpected career breaks in history and marine biology. We also heard from former fellows who have explored other paths to success post-fellowship, joining industry, promoting research within universities, and becoming CEOs. The impact and success of former Daphne Jackson Fellows extends across the research landscape, from major grants to new companies.

Policy and external affairs

Our work with parliamentarians and associated organisations allows us to play a central role in influencing policy across research and innovation at the highest level. We are committed to working with all stakeholders with common goals to progress the issues of returning researchers – including those relating to equality, diversity and inclusion. By working together, we believe we can make positive change, enabling researchers from all backgrounds to return to their research careers and succeed.

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THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST TRUSTEES’ REPORT FOR THE PERIOD ENDED 31ST MARCH 2025

ACHIEVEMENTS AND PERFORMANCE BETWEEN 1 APRIL 2024 AND 31 MARCH 2025 (Continued)

Within Westminster, the Trust is a member organisation of the Parliamentary & Scientific Committee (P&SC) and is a supporter of the Women & Work and Diversity & Inclusion in STEM All Party Parliamentary Groups. The Trust was represented at a significant number of events within the Westminster calendar. Post the 2024 general election, the Chief Executive and other Trust staff had a productive meeting with Zoe Franklin, Liberal Democrat MP for Guildford.

The Trust continues to actively engage with stakeholders across the research and development landscape. Staff attended a wide variety of events hosted by STEM, Arts & Humanities and Social Science organisations, including the Campaign for Science & Engineering’s (CaSE) Annual Lecture; the ERA Foundation; the Foundation for Science & Technology; and the Royal Society. The Trust ensures it is represented at relevant annual conferences and is an active member organisation of the Association of Medical Research Charities (AMRC), Equality, Diversity & Inclusion in Science & Health (EDIS) and the Royal Society of Biology.

The Chief Executive is regularly invited to discuss issues faced by returners at events and seminars and was a judge for two categories of the WISE Awards. Trust staff are regularly invited to attend and speak at events and conferences which helps to raise awareness about the importance of enagaging with returners and the impact of the Trust’s work.

Communication and impact

There continues to be a marked improvement in the general external communications and engagement with stakeholders and collaborators, as well as current and former fellows. Communications work has been more proactive and strategic with a regular newsletter, more blogs and case studies and increased social media followers. A closed LinkedIn group for current and former fellows has been established and has nearly 200 members and growing.

Website and brand

The brand launched on 4[th] November and was promoted widely across our platforms and at the conference. It has been very popular with stakeholders and offers a flexible and varied suite of options for different Trust media and activities.

The website launched on 4[th] December and staff were trained on how to use the new site which offers a fresh new, modern look. With the new brand and website complete, there will be a focus on driving traffic to the site and reaching a wider range of potential applicants.

Blogs, social media and newsleter

During the year a range of blogs and articles have been written and published on the website. These are an opportunity to publicise aspects of the Trust’s work as well as success stories from fellows and are usually written by a mix of staff and fellows. The monthly newsletter which has a range of news pieces and general Trust information from fellows and staff continues to be very popular with numbers of subscribers increasing.

The Trust took the decision to withdraw from interacting with the social media platform X but continues to have an account for monitoring purposes. LinkedIn is the main social channel used and the Trust has a growing presence on Instagram and Bluesky. Although the Trust has a YouTube channel it is rarely used unless we have new video content. The Trust has a social media policy for our Trustees and staff.

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THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST TRUSTEES’ REPORT FOR THE PERIOD ENDED 31ST MARCH 2025

ACHIEVEMENTS AND PERFORMANCE BETWEEN 1 APRIL 2024 AND 31 MARCH 2025 (Continued)

Internal Development and Systems

Data protecton

The Trust continues to take data protection seriously and updated the suite of policies that govern how the Trust is compliant with the Data Protection Act (2018). The Trust also reviewed its arrangements for international data transfers to ensure compliance. Data protection is a standing feature on the Trust’s risk register, which is discussed regularly by Trustees.

Cyber security

The Trust recognises the importance of strong cyber security, especially in light of increasing threats in this regard to charities. The Trust has made improvements to processes, procedures and training for staff, Trustees and committee members. Annual refresher training in both cyber security and good GDPR governance is now mandatory for staff and offered to Trustees and committee members. There is regular monitoring and implementation of new practices and assessment of risk, which is reviewed and discussed at both the Finance and General Purposes Committee and the Board.

FINANCIAL REVIEW

Total income for the year ended 31[st] March 2025 was £2,599,289 (2024: £2,119,923) and expenditure totalled £2,035,281 (2024: £2,010,538) resulting in net income for the period of £564,008 (2024: £109,385). Charity accounting requires the recognition of unconditional grant income on notification by the funder, whilst recognition of expenditure is recorded only once a legal or constructive obligation is incurred by the Trust.

There was an increase of unrestricted funds of £65,112 for the year compared to a reduction of £2,534 in the previous year. These movements are after transfers between funds (inclusive of fellowship support costs) of £471,899 (2024: £314,464). Administrative and core costs remain under rigorous control.

As of 31[st] March 2025, the level of reserves available for the charity’s use (i.e. in unrestricted funds and not represented by fixed assets) was £616,838 (2024: £549,983).

Donatons

The Trust continues to receive a small number of regular donations, which are always very gratefully received. In addition, the Trust was delighted to continue to receive an annual donation from both the Royal Society of Chemistry and the British Pharmacological Society.

Unrestricted Reserves Policy

Unrestricted reserves are required to protect a charity against future events known and unknown, and ensure it is able to maximise future opportunities and weather future challenges. An effective unrestricted reserves policy is one that is regularly reviewed and pays due attention to the changing financial and regulatory

environment in which the charity operates. With this in mind, our policy is reviewed and updated annually. The policy outlines a number of scenarios in which the reserves might be required and defines the potential call on the reserve required for that scenario. Not all the scenarios will occur at the same time but the Trustees have considered the likelihood of some of the scenarios occurring concurrently. This informs the overall level of unrestricted reserves to be maintained in the following financial year.

Our unrestricted reserves are held in a Charities Online Investment Fund (COIF) account with CCLA Investment Management Limited and are available at short notice.

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THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST TRUSTEES’ REPORT FOR THE PERIOD ENDED 31ST MARCH 2025

Scenarios that may require using the unrestricted reserves include both risks and opportunities, these are articulated in the policy along with an indication of the likelihood of occurrence, the action that would be required and an estimate of funds needed. Risks included in the policy cover, but are not limited to:

• annual income less than expenditure owing to regular funders withdrawing support or not placing enough fellows;

• loss of staff members;

and loss of funds as a result of fraud or illegal activity.

Opportunities included in the policy cover new staffing resources, special events and the Biennial Daphne Jackson Trust Conference and fellows’ networking event.

As of 31st March 2025, the level of reserves available for the charity’s use (i.e. in unrestricted funds and not represented by fixed assets) was £616,838 (2024: £549,983). This is considered adequate to cover a number of concurrent risks and opportunities.

Assessment and management of risk

The Trustees are responsible for the identification and management of any major risks facing the charity. During the year the risk register was reviewed at the three meetings of the Finance and General Purposes Committee. Its recommendations were reviewed at each Board meeting and appropriate amendments made to the register with actions agreed.

PLANS FOR THE FUTURE

• The Trust will be conducting a benchmarking exercise to look at the salary and package offered to staff.

• The Trust will be continuing to look at internal ways of working, in order to maximise efficiency and effectiveness. All staff are involved in this project, which is being led and coordinated by the special adviser to the chief executive.

• The Trust will continue to develop the Research Technical Professional Fellowships with a focus on the research technical professionals who are in the academic sector. Alongside this, the Trust will continue to develop support services for those who wish to recruit and retain returners to research technical careers.

• Our ongoing policy work will continue to monitor the shifting research landscape. Many key organisations are realising the need to address research culture and think about people as well as policies. The Trust will continue to work with stakeholders during the year to offer its unique perspective and significant experience of the issues and challenges faced by returners to research careers.

• With the completion of new brand and website the Trust will focus on driving traffic to the site and reaching a wider range of potential applicants. There will be an outreach campaign which will include attendance at science futures at the Glastonbury Festival, placing articles about our fellows in external publications such as the Woman Engineer and Biologist magazine and exploring potential collaborations with online outlets and podcasts.

• The Trust will produce a new general information Daphne Jackson poster with the new branding that can be placed in university departments across the UK and Republic of Ireland to increase awareness of the fellowships we offer and that we now cover all research remits.

• The Trust will be developing new ways to produce visual content, starting with an animation placed on our website and followed by high quality images and video of our fellows.

• There will be an effort to boost our advertising in a range of different media as well as a variety of digital advertising options, including Google grants, boosted and pay per click ads, and paid online boards such as Mumsnet.

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THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST TRUSTEES’ REPORT FOR THE PERIOD ENDED 31ST MARCH 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

The Daphne Jackson Memorial Fellowships Trust (known as The Daphne Jackson Trust) is a charitable company limited by guarantee (No. 06621472), incorporated on 17th June 2008 under a memorandum and articles of association and registered as a charity (no. 1125867) on 15th September 2008. The Trust was named in memory of Professor Daphne Jackson who established a scheme in 1985 to return scientists, engineers and technologists to their careers.

Organisation and management

The Trust’s articles provide for overall operations to be controlled by a Board of Trustees. The Trustees set the overall policy and strategic guidelines for the charity but the day-to-day operations of the charity are the responsibility of the Chief Executive, who is supported by the Trust Manager and a staff team. We practise what we champion – all have the opportunity to work flexibly.

The Trust has two Board meetings a year and its work is supported by three committees and an expert panel:

• Finance and General Purposes Committee meets three times a year and deals with the day-to-day operations of the Trust and considers all aspects of risk on a regular basis. The committee is made up of Trustees and relevant staff, with other staff and the auditors in attendance when necessary.

• Awards Strategy Committee meets twice a year to consider strategic issues concerning the application process and award of fellowships. The committee is made up of Trustees, members of the Awards Assessment Panel and relevant staff.

• The Awards Assessment Panel considers applications three times a year and all members meet together in person once a year. Each fellowship application is assessed by six members of the Awards Assessment Panel, who are chosen on the basis of their subject expertise. The panel is made up of a larger number of subject experts, who consider fellowship applications based on their subject expertise and availability. There are three subject assessment subpanels each with their own Chair. These are Medical, Biological and Environmental Sciences Panel (MBESP), Engineering and Physical Sciences Panel (EPSP) and Psychology, Arts and Humanities Panel (PAHP). There is one overall Chair of the Awards Assessment Panel and one deputy Chair and at least one of them will oversee all applications to ensure consistency between the panels. Each subpanel has a video call to discuss the applications and agree awards.

• Special Discretionary Fund Committee assesses requests for small amounts of additional funding by fellows as applications are made. This committee comprises three Trustees and does not meet in person.

The Board and each Committee have an agreed Terms of Reference, detailing their purpose and responsibilities and key decision-making protocols.

The Board agree the remuneration of the administrative team based on advice received from the Finance and General Purposes Committee. The Chief Executive has an excellent working relationship with the Board of Trustees and often works on projects with members of the Board on a more individual basis.

How Trustees are recruited, appointed, inducted and trained

Trustees are appointed to the Board for the benefit of the Trust. Trustees are appointed to the Board for a three year term, with another term of three years if desired and agreed by the Chair. On occasion, Trustees may be considered for an additional term of up to three years, if desired and agreed by Board. The Trust advertises publicly for Trustees on the Daphne Jackson Trust website, social media and other appropriate websites and adverts. The Trustees may also invite members of the Awards Assessment Panel to become Trustees on occasions. The search for new Trustees is always focused on those with appropriate experience and there are no geographical restrictions on Trustee appointment.

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THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST TRUSTEES’ REPORT FOR THE PERIOD ENDED 31ST MARCH 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued)

Applicants for Trustee vacancies are interviewed by a delegated panel comprising two Trustees and the Chief Executive who then recommend successful applicants to the Chair for formal approval. All new Trustees receive an induction pack, including ‘The Essential Trustee’ guidance booklet produced by the Charity Commission for England and Wales, and are given an introduction to the activities of the charity by members of the existing Board, relevant staff members and the Chief Executive. Existing Trustees also have access to ongoing training opportunities and relevant conferences to assist them in fulfilling their roles and responsibilities. The Board of Trustees possess a diverse range of skills including financial management, academic research and public sector experience.

Governance

• Four Trustees stepped down during the period; we gratefully acknowledge their support and assistance:  Dr Sabine Best

• Carol Bewick

• Professor Stephen Newstead

• Professor Christopher Whitehead

Five Trustees joined during the period. We are pleased to have recruited such high calibre Trustees, with a wide range of skills and attributes that are proving to be of great assistance to fulfilling the Trust’s objectives:

• Dr Jo Briggs, Reader, User Experience, School of Digital Arts, Manchester Metropolitan University

• Dr Alex Jones FRSC, Principal Scientist in Biometrology at the National Physical Laboratory

• Professor Lu-Yun Lian MBA, Director of Invesimol

• Professor Rebecca Lingwood FREng, Deputy Vice-Chancellor, Lancaster University

• Professor Kostas Tokatlidis RSE FRSC FRSB, Head of the Mitochondrial Biology Laboratory, Cathcart Chair and Director of Research in the School of Molecular Biosciences, University of Glasgow

The Trust continues to use WorkNest, an expert consultancy which advises on compliance with regard to employment law and health and safety.

Staffing

There are currently 14 staff, who work at a total of 8.8 FTE. During the year, we recruited a member of staff on a fixed term contract to provide maternity cover for our communications lead. The project lead resigned to take up a role with a professional body and through some amendments to existing roles we were able to continue without the need to advertise externally. In addition to permanent staff the Trust was very lucky to have a secondment from the Wellcome Trust for a period of six months from May 2024 to end of October 2024. Following completion of the secondment a fixed term position of one year at 0.5 FTE was offered to the secondee to undertake the role of special advisor to the Chief Executive. This role started in December 2024.

Patrons

• Professor Jim Al-Khalili CBE FRS (commenced role in December 2024)

• Professor Dame Athene Donald DBE

• Vivienne Parry OBE

• Maggie Philbin OBE

Directors and Trustees, who have served during the period covered by this report

Professor Tom Welton OBE FRSC FCGI (Chair) Dr Sabine Best (resigned May 2024) Carol Bewick (resigned November 2024) Dr Jo Briggs (appointed May 2024) Dr Sophie Duport Dr Samantha Francis

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THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST TRUSTEES’ REPORT FOR THE PERIOD ENDED 31ST MARCH 2025

Dr Jane Gate Dr Ruth Gilligan Dr Kerstin Kinkelin Dr Alex Jones (appointed May 2024) Professor Lu-Yun Lian (appointed May 2024) Professor Rebecca Lingwood (appointed March 2025) Professor Stephen Newstead (Deputy Chair) (resigned May 2024) Dr Kotryna Temcinaite Dr Maria Tennant Professor Kostas Tokatlidis (appointed May 2024) Nazia Waterman Professor Christopher Whitehead (Deputy Chair) (resigned May 2024)

The Directors of the Trust are also its Trustees for the purposes of charity law and throughout this report are referred to as the Trustees.

Registered office: University of Surrey, Guildford, Surrey, GU2 7XH

Registered charity number: 1125867

Registered company number: 06621472

Chief Executive & Company Secretary: Dr Katie Perry

Trust Manager: Dr Helen Marsh

Professional Advisers: WorkNest, Woodhouse, Church Lane, Aldford, Chester, CH3 6JD

Auditors: Knox Cropper LLP, Office Suite 1, Haslemere House, Lower Street, Haslemere, Surrey, GU27 2PE

Bankers: National Westminster Bank plc, PO Box 236, University of Surrey, Guildford, Surrey, GU2 5ZX

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THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST TRUSTEES’ REPORT FOR THE PERIOD ENDED 31ST MARCH 2025

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees (who are also Directors of the Daphne Jackson Memorial Fellowship Trust for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

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

In so far as the Trustees are aware:

• there is no relevant audit information of which the charitable company’s auditor is unaware; and

• the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

APPOINTMENT OF AUDITORS

Knox Cropper have expressed their willingness to stand for reappointment and a resolution proposing this will be put forward at the annual general meeting of the charity.

This report has been prepared having taken advantage of the small companies’ exemption in the Companies Act 2006.

Approved by the Trustees and signed on their behalf.

…………………………………………………………. Professor Tom Welton OBE FRSC FCGI Trustee/Director

Date: 03/09/2025

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INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST

Opinion

We have audited the financial statements of the Daphne Jackson Memorial Fellowships Trust, the (‘charitable company’) for the year ended 31st March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the charitable company’s affairs as at 31st March 2025 and its incoming resources and application of resources for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Page 14

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Trustees’ report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the directors’ report included within the Trustees’ report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the Trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of Trustees’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the Trustees’ report and from the requirement to prepare a strategic report.

Responsibilities of Trustees

As explained more fully in the Trustees’ responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

• We obtained an understanding of the legal and regulatory frameworks that are applicable to the charitable company which have a direct impact on the financial statements and determined that the most significant are the Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice) and the Companies Act 2006.

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INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST

Auditor’s responsibilities for the audit of the financial statements (continued)

• We understood how the charitable company is complying with those frameworks via communication with those charged with governance, together with the review of the charitable company’s documented policies and procedures.

• We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including how fraud might occur by considering the key risks impacting the financial statements. These included risks associated with revenue recognition and management override of controls.

• Our approach included agreeing the charitable company’s recognition of income to the terms of the underlying contracts for fees, the review of journal entries processed in the accounting records and the investigation of significant and unusual transactions identified from our review of the accounting records.

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved review of the reporting to the directors with respect to the application of the documented policies and procedures and review of the financial statements to ensure compliance with the reporting requirements of the charitable company.

There are inherent limitations in the audit procedures described above and, the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilites. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken, so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report or for the opinions we have formed.

Dated……………………………

Matthew Elkins (Senior Statutory Auditor) For and on behalf of Knox Cropper LLP, Statutory Auditor Office Suite 1 Haslemere House Lower Street Haslemere Surrey GU27 2PE

THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025

Notes INCOME FROM Grants and Donatons Investment income 2 3 Total income EXPENDITURE ON Charitable actvites Other expenditure 4 Total expenditure Net Income/(expenditure) Transfers between funds 17 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward Total funds carried forward 16	2025 Unrestricted Funds £ Restricted Funds £ Total Funds £ 133,705 59,006 _ 2,261,859 144,719 _ 2,395,564 203,725 _ 192,711 _ 2,406,578 _ 2,599,289 _ 599,498 - _ 1,435,783 - _ 2,035,281 - _ 599,498 _ 1,435,783 _ 2,035,281 _ (406,787) 970,795 564,008 471,899 _ (471,899) _ - _ 65,112 498,896 564,008 553,277 _ 1,365,982 _ 1,919,259 _ £618,389 _ £1,864,878 _ £2,483,267 _	12 Months 2024
		Unrestricted Funds £ Restricted Funds £ Total Funds £ 122,140 47,923 _ 1,849,557 100,303 _ 1,971,697 148,226 _ 170,063 _ 1,949,860 _ 2,119,923 _ 487,061 - _ 1,523,477 - _ 2,010,538 - _ 487,061 _ 1,523,477 _ 2,010,538 _ (316,998) 426,383 109,385 314,464 _ (314,464) _ - _ (2,534) 111,919 109,385 555,811 _ 1,254,063 _ 1,809,874 _ £553,277 _ £1,365,982 _ £1,919,259 _

All of the above results are derived from continuing activities.

Page 17

THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST BALANCE SHEET AS AT 31ST MARCH 2025

			2025		2024
	Note	£	£	£	£
FIXED ASSETS
Tangible assets	10		1,551		3,294
CURRENT ASSETS
Debtors	11	314,125		375,422
Cash at hand and in bank		5,303,497		4,394,107
		__		__
		5,617,622		4,769,529
CURRENT LIABILITIES
Creditors: Amounts falling due within
one year	12	3,135,906		2,853,564
		__		__
Net current assets			2,481,716		1,915,965
			__		__
NET ASSETS			£2,483,267 __		£1,919,259 __
THE FUNDS OF THE CHARITY
Restricted funds	16		1,864,878		1,365,982
Unrestricted funds	16		618,389		553,277
			__		__
TOTAL CHARITY FUNDS	16		£2,483,267 __		£1,919,259 __

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

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

…………………………………………………..

Professor T Welton Trustee/Director

The Daphne Jackson Memorial Fellowships Trust Company Number: 06621472 Charity Number: 1125867

Page 18

THE DAPHNE JACKSON MEMORIAL FELLOWSHIP TRUST STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31ST MARCH 2025

		2025		2024
Note	£	£	£	£
s
CASH FLOWS FROM OPERATING
ACTIVITIES
Net cash used in/(provided by) in operatng
actvites A		706,815		341,144
CASH FLOWS FROM INVESTING ACTIVITIES
Bank Interest	203,725		148,226
Purchase of Tangible Fixed Assets	(1,150)		(1,310)
	______		______
Net cash provided by investment actvites		202,575		146,916
		__		__
CHANGE IN CASH AND CASH EQUIVALENTS
IN THE FINANCIAL YEAR		909,390		488,060
Cash and Cash Equivalents at the beginning
of the fnancial year B		4,394,107		3,906,047
		__		__
Cash and Cash Equivalents at the end
of the fnancial year B		£5,303,497 __		£4,394,107 __
NOTES TO THE STATEMENT OF		2025		2024
CASH FLOWS		£		£
A) Reconciliaton of Net Expenditure to Net Cash Flow from Operatng Actvites
Net Income to Net Cash Flow
From Operatng Actvites
Net Income for the Financial Year/Period		564,008		109,385
Adjustments for - Depreciaton		2,893		3,749
- Bank Interest received		(203,725)		(148,226)
- Decrease/(Increase) in Debtors		61,297		(236,997)
- Increase in Creditors		282,342		613,233
		__		__
Net cash used in/(provided by) Operatng Actvites		£706,815 __		£341,144 __
B) Analysis of Cash and Cash Equivalent
Bank Current Accounts		353,497		1,444,107
Bank Deposit Accounts		4,950,000		2,950,000
		__		__
		£5,303,497 __		£4,394,107 __

Page 19

THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

1. ACCOUNTING POLICIES

(a) Basis of Preparation and Assessment of going concern

The accounts have been prepared under the historical cost convention with items recognised at cost or transactional value unless otherwise stated in the relevant notes to the accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) Second Edition issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102 March 2018) and the Companies Act 2006.

The accounts have been prepared in £GBP Sterling which is the presentational currency of the company. Monetary accounts in these financial statements are rounded to the nearest £.

The Charity constitutes a public benefit entity as defined by FRS 102.

The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.

(b) Incoming resources

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income is deferred only where the donor has imposed restrictions on the resources which amount to pre-conditions for use e.g. the receipt in advance of a grant for expenditure in a future accounting period.

Where incoming resources are receivable subject to the satisfaction of conditions which are outside of the charity’s control, entitlement to the incoming resources will only exist once those conditions have been satisfied and such income is therefore recognised when the relevant conditions have been satisfied.

Where incoming resources are receivable under a contract or constitute performance-related grants, income will be recognised according to the degree of completion of the contract or the extent to which performance has been achieved.

(c) Resources expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is recognised on an accruals basis.

The majority of costs are directly attributable to specific activities but certain shared costs are apportioned to activities in furtherance of the charity’s objects. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Governance costs comprise the costs associated with the governance arrangements of the charity and include audit fees, legal advice (if any) for Trustees, costs associated with the constitutional and statutory requirements and any costs associated with the strategic as opposed to the day-to-day management of the charity’s assets are allocated to support costs.

Page 20

THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

1. ACCOUNTING POLICIES (continued)

(d) Fixed assets

Fixed assets are stated at cost and depreciation is provided at rates calculated to write-off the cost of each asset over its expected useful life as follows:

Computer equipment - 33[1] /3% straight line - Office equipment 25% reducing balance

(e) Fund accounting

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

Designated funds are unrestricted funds that the Trustees have specifically designated the purpose for which they can be applied.

Restricted funds are funds, which are to be used in accordance with specific restrictions imposed by donors or raised by the charity for particular purposes. The cost of raising and administering such funds is charged against the specific fund. The aim and use of each restricted fund are set out in the notes to the financial statements.

For each restricted fund the charity agrees with the funder that a proportion is to be transferred to unrestricted funds in order to meet the costs of selecting and supporting Fellows.

(f) Pension fund contributions

The pension costs charge represents the Charity’s contributions to a money purchase scheme of staff members and these are brought into account when payments arising to the scheme fall due.

(g) Significant Judgements and Estimates

The following are the critical judgements and key sources of estimation uncertainty that the board has made in the process of applying the group’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Depreciaton:

The depreciation of fixed assets is based on management’s estimate of their useful lives which is kept under review.

Page 21

THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

			2025		2024
		Unrestricted	Restricted	Total	Total
		Funds	Funds	Funds	Funds
		£	£	£	£
2.	GRANTS AND DONATIONS
	Donatons	133,705	-	133,705	122,140
	Grants	-	2,261,859	2,261,859	1,849,557
		_	__	__	__
		£133,705 _	£2,261,859 __	£2,395,564 __	£1,971,697 __
3.	INVESTMENT INCOME
	Bank interest	£59,006 _	£144,719 _	£203,725 _	£148,226 _
4.	RESOURCES EXPENDED ON
	CHARITABLE ACTIVITIES
	Grants payable – Fellowship Payments	21,531	1,435,783	1,457,314	1,545,852
	Support costs (see note 5)	577,967	-	577,967	464,686
		_	__	__	__
		£599,498 _	£1,435,783 __	£2,035,281 __	£2,010,538 __

Page 22

THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

		Unrestricted	Restricted	2025	2024
		Funds	Funds	Total	Total
		£	£	Funds	Funds
				£	£
5.	SUPPORT COSTS
	Administratve support	387,706	-	387,706	343,366
	Rent, light and heat	20,000	-	20,000	20,000
	Bank charges	388	-	388	433
	Telephone	2,645	-	2,645	2,456
	Printng, postage and statonery Computer and Sofware Support Costs Depreciaton	436 8,326 2,893	- - -	436 8,326 2,893	2,007 8,078 3,749
	Insurance	1,804	-	1,804	1,642
	Legal and professional fees	5,180	-	5,180	4,440
	Trust development	9,465	-	9,645	15,308
	Meetngs and expenses Subscriptons and publicity	27,588 2,506	- -	27,588 2,506	21,154 2,464
	Website and rebranding costs	40,925	-	40,925	677
	Staf training	2,394	-	2,394	4,487
	Sundry expenditure	3,114	-	3,114	3,145
	Daphne Jackson Trust Conference	51,521	-	51,521	-
	Daphne Jackson Trust Fellows Event	1,941	-	1,941	20,985
	Auditors’ remuneraton – Audit Trustees and Commitee	8,280	-	8,280	7,980
	Members costs	855	-	855	2,315
		_	_	_	_
		£577,967 _	£- _	£577,967 _	£464,686 _
6.	NET INCOME
	IS STATED AFTER CHARGING
	Auditors’ remuneraton – Audit Depreciaton	8,280 2,893 _	- - _	8,280 2,893 _	7,980 3,749 _

7. TAX STATUS

The Daphne Jackson Memorial Fellowships Trust is a registered charity and is eligible for the exemptions from taxation available to charities on their charitable activities. No charge to taxation therefore arises.

Page 23

THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

8. WAGES AND SALARY COSTS

The Total amount of employee benefits received by the key management personnel for their services to the charity for the year amounted to £97,775 (2024: £94,536).

2025 Total Funds £ 2024 Total Funds £ Gross wages Employer’s natonal insurance costs Pension contributons 351,333 25,726 10,647 _ 313,849 21,591 9,352 _ £387,706 _ £344,792 _ 2025 2024 The average number of employees, analysed by functon was: No. FTE No. FTE Administraton of charitable actvites 11 7 11 7	2025 Total Funds £ 2024 Total Funds £ Gross wages Employer’s natonal insurance costs Pension contributons 351,333 25,726 10,647 _ 313,849 21,591 9,352 _ £387,706 _ £344,792 _ 2025 2024 The average number of employees, analysed by functon was: No. FTE No. FTE Administraton of charitable actvites 11 7 11 7	2025 Total Funds £ 2024 Total Funds £ Gross wages Employer’s natonal insurance costs Pension contributons 351,333 25,726 10,647 _ 313,849 21,591 9,352 _ £387,706 _ £344,792 _ 2025 2024 The average number of employees, analysed by functon was: No. FTE No. FTE Administraton of charitable actvites 11 7 11 7
		No. FTE 11 7

There were no employees with emoluments (excluding employer pension costs) above £60,000 in this or the preceding year.

9. RELATED PARTY TRANSACTIONS

None of the Trustees received any remuneration during the year under review (2024: £ -). Trustees were reimbursed expenses totalling £3,063 (2024: £2,635) during the period under review.

10. FIXED ASSETS Computer Equipment £ Ofce Equipment £ Cost At 1st April 2024 Additons 25,077 1,150 __ 2,527 - _ At 31st March 2025 26,227 2,527 Accumulated Depreciaton At 1st December 2024 Charge for the year 22,232 2,781 2,078 112 At 31st March 2025 25,013 2,190 Net book value at 31st March 2025 £1,214 £337 Net book value at 31stMarch 2024 £2,845 £449 ___	Total £ 27,604 1,150 __ 28,754 _ 24,310 2,893 27,203 £1,551 £3,294 ___

Page 24

THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

		2025	2024
		Total Funds	Total Funds
		£	£
11.	DEBTORS
	Debtors – Amounts due from Sponsors	285,030	355,014
	Other debtors	776	694
	Prepayments	28,319	19,714
		_	_
		£314,125 _	£375,422 _
12.	CREDITORS
	Trade creditors	422,937	298,781
	Grants payable – Fellowships	164,016	264,772
	Accruals	14,527	14,618
	Deferred income	2,209,573	2,043,700
	Other taxes and social security	-	-
	Fellows’ consumables	321,561	227,765
	Other creditors	3,292	3,928
		__	__
		£3,135,906 __	£2,853,564 __

13. UNPROVIDED COMMITMENTS

As at 31st March 2025 the charity had commitments in respect of Fellowship funding amounting to £2,383,863 (2024: £1,466,386) which remain unprovided for in these accounts, there being no binding legal or constructive obligation to pay over the sums involved as at that date.

14. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible assets Net current assets Tangible assets Net current assets	2025 2024 Unrestricted Funds £ Restricted Funds £ Total Funds £ Total Funds £ 1,551 616,838 _ - 1,864,878 _ 1,551 2,481,716 _ 3,294 1,915,965 _ £618,389 _ £1,864,878 _ £2,483,267 _ £1,919,259 _ 2024 2023 Unrestricted Funds £ Restricted Funds £ Total Funds £ Total Funds £ 3,294 549,983 _ - 1,365,982 _ 3,294 1,915,965 _ 5,733 1,804,141 _ £553,277 _ £1,365,982 _ £1,919,259 _ £1,809,874 _

Page 25

THE DAPHNE JACKSON MEMORIAL FELLOWSHIPS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

15. LEGAL STATUS

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is £10.

16. ANALYSIS OF NET MOVEMENT IN FUNDS

2025	Total funds			Transfers	Total funds
	brought	Total	Total	between	carried
	forward	Income	Expenditure	funds	forward
	£	£	£	£	£
Unrestricted funds
Designated funds	18,000	100,000	(89,570)	-	28,430
General funds	535,277	92,711	(509,928)	471,899	589,959
	__	__	__	__	__
	553,277	192,711	(599,498)	471,899	618,389
Restricted funds	1,365,982	2,406,578	(1,435,783)	(471,899)	1,864,878
	__	__	__	_	__
Total funds	£1,919,259 __	£2,599,289 __	£(2,035,281) __	£ - _	£2,483,267 __
2024	Total funds			Transfers	Total funds
	brought	Total	Total	between	carried
	forward	Income	Expenditure	funds	forward
	£	£	£	£	£
Unrestricted funds
Designated funds	-	-	-	18,000	18,000
General funds	555,811	170,063	(487,061)	296,464	535,277
	__	__	__	__	__
	555,811	170,063	(487,061)	314,464	553,277
Restricted funds	1,254,063	1,949,860	(1,523,477)	(314,464)	1,365,982
	__	__	__	_	__
Total funds	£1,809,874 __	£2,119,923 __	£(2,010,538) __	£ - _	£1,919,259 __

Designated funds represent amounts set aside for future use in respect of the Royal Society of Chemistry. Transfers to and from this fund are made at the discretion of the Trustees.

Restricted funds represent amount held to fund Fellowships.

17. ANALYSIS OF TRANSFERS BETWEEN FUNDS

Unrestricted Restricted Funds £ Funds £ Fellowship Support Costs transferred £471,899 _ £(471,899) _	Total £ £ - _