DoGusign Envelope ID." A7E472FA.3$8wDE-8E443SF?21797B Company No.. 06606603 Charity No: 1129387 The Sydney Driscoll Neuro-science Foundation (Company Limited by Guarantee Financial Statements For The Year Ended 5 April 2025
DoGusign Envelope ID." A7E472FA.3$8wDE-8E443SF?21797B THE SYDNEY DRISCOLL NEuR0CIENcE FOUNDATION (COMPANY LIMTED BY GUARANTEE) CONTENTS Pago Legal and Adminislralive Information Trustee5' Annual Report Independent Examiner's Report Stslemenl of Financial ActIVe$ Balance Sheet Notes to the Financial Statements
DoGusign Envelope ID." A7E472FA.3$8wDE-8E443SF?21797B THE SYDNEY DRISCOLL NEuR0CIENcE FOUNDATION (COMPANY LIMTED BY GUARANTEE) COMPANY INFORMATION Registered Charity Name The Sydney Driscoll Neurtrscience Foundation Charity Registration Number 1129387 Company Registration Number Cffi06603 Tru$t•gslDlrg¢tors J A Ferguson N Gurusinghe J Wnnard NOPa J Eccles Reglster•d Office 7 Win¢eY Square Preston PR13JO S•crotary Mr John Andrew Ferguson Indèpèndènt Examlnèr Nicola Mason MHA Chartered A¢¢ountants Richard House 9 Winckley Square Preston PR1 3HP Sollcltors Naplhens 7 Win¢kley Squa Preston PR13JD
DoGusign Envelope ID." A7E472FA.3$8wDE-8E443SF?21797B THE SYDNEY DRISCOLL NEuR0CIENcE FOUNDATION (COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2025 The trustees, who are also directors for the purposes of company law are pleased to present their present their combined directors and trustees, report and financial stalements for the year ended 5 April 2025. The financial statements comply wlh the Charities Act 2011. the Companies Act 2006. the Memorandum and Att'cles of Association. and Accountsng and Reporting by Charibes.. Statement of Recommended Pra¢ty'ce applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (October 2019) Structura. govèman¢o and managom•nt Governing document The charity 15 8 company limited by guarantee, govemed by rts Memorandum and Articles of Association, and was incorporated on 30 May 2008. Racruitment and appointm8nt of trust885 Trustees are recrurted from lime lo lime by the e¥isb"ng Iruslees on the basis of their knowledge and experience of the adminislralion and delivery of health services lund raising and where rt is perceived that they are qualified to deliver other relevant experience and skills to the ¢harity- The trustees are actively seeking lo appoint additional suitable directors and trustees. Tru$ts•s Indu¢tlon and tralnlng Upon appointment the trustees are generally appraised in meetings of the financial position and the objects of the charity and of relevant ongoing programmes for delivery of thege objects. Organl•atlonal 8tructur• The board of trustees administers the charity. The truslees vtho served during ihe period are set out on page 1. The Iruslees meet quarterfy. Rlsk management The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports lo be produced so that the necessary steps can be taken lo lessen the n5ks. Obj•ctiv•s and actlvitios The ¢harity's objects are to heal and relieve sick. disabled and aged persons from the disabilities and infirmitles ilh which they are afflicleLI In one or more of the followng ways. By establishing, fitting out and Stking and maintsining a library specialising in neuro-surgical and neurological mediane and allied neuro-sciences containing books and journals and such auxiliary goods Items and equipment, together wth the nece55ary lumilure and fixtures and fittings as the trustee5 in their discrebon may consider advisable for the use of medical practitioners. By Pfomoling and funding research and education and generally by developing the practice of neurt surgical and neurological medicine and allied neuro-sciences by such means as the trustees may in their absolute discretion deem to be appropriate and by disseminatrng for the public benefit any useful results obtained from any iesearch andlor developments. By acquiring or assisting in the acquisition or provision of such plant machinery and equipment as the tnjstees in their absolute discretion may deem appropriate for use in conjunction with the practice and development of neuro-surgical and neurological medicine and allied neur(scIences. The Iruslees confirm that they have referred to the guidance contained in the Charrty Commission's general guidance on public benefit when reVIeing the d)arity's aims and objectives and in planning future activities and setting the grant making policy for the year.
DoGusign Envelope ID." A7E472FA.3$8wDE-8E443SF?21797B THE SYDNEY DRISCOLL NEuR0CIENcE FOUNDATION (COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2025 Achievèment and ptrrfomian¢• The details of the charity's income and expenditure for the year and its net assets at 5 April 2025 are on pages 6 and 7 of the financial statements. In summary, the charity generated income of £25,83712024 £25,578) in the year lo fund expenditure 01 £65,37212024 £98.6401. During the a¢counling period the trustees have continued their sponsorship of the maintenance of a brain tissue bank at the Tissue Culture Laboratory * Royal Preston Hospital. They have Conb'nued the funding and development of the SDN Neurosciences Library situated in the neuroscience department at Royal Preston Hosprtal and the annual lecture delivery by Prole550r Hutchinson of Addenbrooke's at the Royal Preston H05pilal. The Iruslees conb'nued lo wk with The School ol Clinical and Biomedical Sciences al the University of Central Lancashire in relation lo the sponsorship of research pfojects relating lo neuco oncology. There are no restrictions on the charity's power to invest. The investment strategy is reviewed regularfy by the Iruslees and lakes account ol the demand for funds. Due lo the volalilrty In the investment markets, the trustees were content lo hold hi9h levds of cash deposits during the year. They a Continuing lo review this policy and lo lake advice from their investment advisers, Messrs J M Finn & Co. The trustees will not invest in companies associated with the tobacco industry. Flnanclal review RosorvM pollcy Al 5 April 2025 the charity held unrestricted reserves of £640,969. The trustees have the power to apply both capital and income towards the objeets of the Foundation. The trustees. Current policy and practice is to spend the income and lo make up any shortfall required lo maintain their sponsorship of approved proje¢ts out of capital. They are prepared in appropriate circumstsnces lo make significant grants out ofcapital towards suitsble projects and particular projects are currently under considerabon. Prlnclpal fundlng sources Principal funding sources are the historic en¢Jowmenl received under the wll of Mrs Lucille Orlscoll and income generated thereon. During the relevant accounting year the Iwstees have received significant additional grants from pats'ents of Royal Preston Hospital and their families. Going concem The Trustees consider that the charity has sufficient reserves lo meet liabilities as they fall due for a period of al least trIVe months from the dale of the signing of the accounts. Plans for futuro porlods The Iru51ee5 will continue lo meet their objective5 in the current year. Since April 2025 the Tru51ees have agreed substsnlial funding for new research programmes al Lancashire University. and have agreed lo fund a searCh programme led by Manchester Universty to review a new diagnoslic system from the Oxford Nanopore Technology.
DoGusign Envelope ID." A7E472FA.398WDE-89CE4435F221797B THE SYDNEY DRISCOLL NEuR0CIENcE FOUNDATION (COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2025 Rosponsibilitias of tha trusts8s The Iruslees (who are also directors of the charity for the purposes of company lawl are responsible for preparing the Trustees. Annual Report and the financial slalements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Apted Accounting Pra¢li¢el. Company law requires the trustees to prepare financial statements for each financial year, %thich give a true and fair view of the state of affairs of the chantable company and of the incoming resources and application of resources, including the income and expenditure. of the charitable company for that penod. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then appty them consistendy.. observe the methods and principles in the Chanties SORP 2019 {FRS1021'. make iudgemenls and estimates that are reasonable and prudent., stale whether applicable UK Accounting Standards have been folkjwed, subject to any material departures disclosed and explained in the financial stslements.. prepare the financial stslements on the going concem basis unless rt is inappropriate to presume that the charitable company wll conbnue in operatson. The Iruslees are responsible for keeping adequate accounlirYJ ¢018 that disdose wlh reasonable accuracy al any lime the financial position ol the charitsble company and enable them to ensure that the financial statements Comply wffh the Companies Act 2006. They are also responsible for Safeguarding the a$$els of the charitable company and hence for taking reasonable steps for the prevention arKI detection of fraud and other irregularities. Small company provl8lon$ This report has been prepared in ardance with the pro¥isi¢)n$ appIable to companies ented lo the Small companies. exempts'on. Signed by order of the Iruslees Mr John Andrew Ferguson Company S•¢retary Registered office.. 7 Vvinckley Square Preston Lancashire PR1 3JD Date.. March 30, 2026
DoGusign Envelope ID." A7E472FA.398WDE-89CE4435F221797B THE SYDNEY DRISCOLL NEuR0CIENcE FOUNDATION (COMPANY LIMITED BY GUARANTEEI INDEPENDENT EXAMINER'S REPORT TOTHE MEMBERS FOR THE YEAR ENDED 5 APRIL 2025 I report to the charity trustees on my examination of the accounts of the Charity for the year ended 5 April 2025 Sel out on pages 6 to 12. R•spon$lbllltl•s and basls of r•port As the charity's trustees of the company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 I'lhe 2006 Acl'l. Hawng satisfied myselFthat the acujunts of the compary a not required lo be audrted under Part 16 ofthe 2006 Act ar)d are eligibtr Independent examinatKM), l )rt in respectol my examinat) ofyour company's accounts as Carried t)ut under seth'on 145 of the Charth"es 2011 11tr 2011 Act'l. In ¢arying out nyy examinabon I have fc4bwed the Diwb'ons gwen by tr)e Charty CommissK)n under sefAk)n 14515llbl ofthe 2011 kt. Ind•p•nd•nt •xamlner'$ $tstsm•nt I have completed my examination. I confirm Ihat no matters have come to my attention in connection with the examination giving me cause lo believe that in any material respect.. aOun.n9 records were not kept in respect of the company as required by section 386 of the 2006 Act., or the accounts do not accord wth those records., or the acc¢unls do not c¢mY wth the a¢¢cnb"n9 requirnts of$e¢On 396 oflhe 20C6 Act otherthan any requirement that the accwnls gNe a Iwe and fair not a mattw consKlered as part of an independent examination., or the accounts have not teen prepared in accordance the methc¢Js and winciks ofthe Statement of Recommended Practie fcrf accountn9 and reFMyb'ng ty charitses applb to charibe5 preparirrfJ their acLc¥Jnts in cordaKe wth the Fina91 ReFolI'ng StstTrJard aFpkable in tr* UK and Republic of Iland IFRS 1021. I have no concems and have wme a¢ro$s no other matters in ¢onne¢tion wrth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Nicola Ma$on For and on behalf of MHA Chartered Accountants & Statutory Auditor Richard House Winckley Square Preston PR1 3HP Date.. March 30, 2026
DoGusign Envelope ID." A7E472FA.3$8wDE-8E443SF?21797B THE SYDNEY DRISCOLL NEuR0CIENcE FOUNDATION (COMPANY LIMITED BY GUARANTEEI STA TEMENT OF FINANCIAL ACTIVITIES {INCORPORATIMG THE INCOME & EXPENDITURE ACCOUNT} FOR THE YEAR ENDED 5 APRIL 2025 Total funds Total fund$ for the year for the year ended ended SApril 5 Aprll 2025 2024 Income from: Donations and legacies Investment income Other income 2,000 23,837 1,932 23,316 330 Total incoming rosources 25,837 25,578 Expondltur• on: Raising funds Charitable activities 5,295 60,077 5,376 93.264 Total rnsourct¥ •xwnd•d 65,372 98,640 Not In¢omell•xpgnditurel befor Inv¢$tments 139,5351 173,0621 N•t galn I110$8081 on Inve#tments 144,6121 30.323 Not Incomo11oXPondltur•l 184,1471 142,7391 Reconclllatlon of funds Balance brought foM8rd at 6 April 2023 725,116 767,855 Bal*n¢• carrièd forward at 5 April 2024 640,969 725,116 I movements in both the Current and prior year are in unreslricled funds and relate lo continuing aclivilies.
DoGusign Envelope ID." A7E472FA.398WDE-89CE4435F221797B THE SYDNEY DRISCOLL NEuR0CIENcE FOUNDATION (COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT 5 APRIL 2025 2025 2024 Note Flxed assets Investments 591,806 435,778 Current assets Debtors Cash at bank 4,196 49,217 3.694 291,824 53,413 295.518 Curr•nt Il*bllltlo1 Creditors.. amounts falling due wthin one year 14,2501 16,1801 Net curront assets 49,163 289,338 Not a88•ts 640,969 725,116 The fund• of charlty: Unrestricted 640,969 725,116 Totsl charlty funds 640,969 725,116 For the financial year ended 5 April 2025 the company was entiued lo exemplion from audit under section 477 of the CoMpanS Act 2006 relating to small companies. The directors aCknOedge their responsibility for comptying the requirements of the Companies Act 20C ith respect lo accounting recofds and the pparab0n of financial stalemenls. The members have not required the rLJmpany to obtain an audit of 115 financial statements for the year in question in accordance wth section 476. These financial stslements have been prepare(l in acc¢)rdance Mth the provisions applicable lo companies entitled to the small companies, regime. March 30, 2026 These financial statements were approved and aulhorised for issue by the Iruslees on signed on their behalf by.. .and are J A Forguson Trustee Company Registration Number." 06603 The notes on pages 8 to 12 fomi part of these ffinancial statements.
DoGusign Envelope ID." A7E472FA.3$8wDE-8E443SF?21797B THE SYDNEY DRISCOLL NEuR0CIENcE FOUNDATION (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2025 A¢countlng polici•s Legal forni The charity constrtules a limi(ed Company. limileil by guarantee as defined by the Companies A¢t 2006. incorporated in England and Wales. The registered office is as stated on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limrted to £1 per member of the charity. The nature of the charty's operab.ons and pnncipal acts"vrties are in the detsiled in the Report of the Trustee5. Basis of accounting The financial stslements have been prepared in acc¢)rdance wrth Accounb"ng and Reporting by Charrties". Statement ol Recommended Practs'ce applicable to Charities preparing their a¢¢ounls in a¢cordan¢e wrth the Financial Reporting Standard applicable in the UK and Republic ol Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charrties Act 2011, the Companies Acl 2006 and UK Generally Accepted Accounting Pracb'ce. The charity does not include a cash llow slalemenl on the grounds that il is apping FRS 102 Section 1A. The Sydney Dri$¢oll NeUTscienCe Foundati¢ meets the deffinth'on of a public benefit entity under FRS 102. Assets and liabilities are initially reco9nised at historical cost or transaction value unless olherwse slated In the relevant accountsng policy notes. Proparatlon of th• accounts on a golng ¢on¢*m ba$1$ The financial statemen15 have been prepared on a going concem basis and the Iruglees believe that no material uncertainties exist. The Tnjstees consi¢Yer that the charity has sufficient reserves to meet liabilities as they fall due lof a period of al least ve1Ve months from the dale of the signing of the accounts. Incom8 Income is recognised in the Stslement of Financial Activities on an accruals basis. Investment income is recognised on an accruals basis. R•8ourc•s expondod Expenditure, inclusive of VAT. ig charged lo the Statement of Financial Activities on an accruals basis. Fln8nclal In$trum•nts The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised al transaction value and subsequenuy measured al their settlement value. Investments Investments are ststed on the balance sheet at market value. Unrealised gains and losses, and gains and losses on disposal are recorded in the Statement of Financial Activities. Cash at bank and in hand Cash al bank includes cash held by the administrator. investsnent manager and banks. Accruals Accruals are recognised Whe the charity has a present obligatK)n reSu1n9 from a past event that will probably result in the transfer of funds to a third paty and the amount due to settle the obligats'on can be measured or estimated reliably. These are nOMllY recognised at their settlement amount.
DoGusign Envelope ID." A7E472FA.3$8wDE-8E443SF?21797B THE SYDNEY DRISCOLL NEuR0CIENcE FOUNDATION (COMPANY LIMITED BY GUARANTEE) OTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2025 A¢¢ovntlng pollci•s lcontlnued) Books Expendrture on books and periodicals is wrrtten off in the accounbng period in whi¢h this is incurred. Fund accounting Unrestricted fvnds can be used in accordance with the charitable objectives at the discretion of the Iruslees. Restricted lunds can only be used for particular restricted purposes wrthin the objects of the charity. Reslriclion5 arise when specified by the donor or when funds are raised for particular reslricled purposes. Further explanation of the nature and purpose of each fiJnds is included in the notes to the financial statement5. Judg8m8nts and k*y sourc8s of astimation uncèrtainty There have been no significant judgements (apart trom those invofving eslimatesl made in the proceys ol preparing the accounts. There have been no key assumptions ¢onceming the future anij other key sources ol estsmabon uncertainty al the reporb'ng dale that have a signifi¢ant risk of causing a material adjustment to the carrying amounts of assets and liabilities wlhin the next financial year. Incoming r•8ourco8 Yo•r ended Year ond8d S April 5 Aprll 2025 2024 Donatlons and Iwa¢les Donab'ons 2,000 1,932 Investmonl Incom• M & G Investments Charilund CCLA Investments COIF Blackrock Asset Management Charinco Brunner Investment Trust F&C Investment Trust BB Healthcare Trust Scottish Mortgage Twst S¢hroeder Asian relum Johnson and Johnson Automatic Data Processing Inc Microsoft CorporatDn Givaudan 8,869 8,428 9,104 833 818 1,651 164 1,100 1,218 1,490 887 1,461 170 1,150 1,200 81 33 239 15,580 23,316 Other In¢ome Bank interest 8,257 330 25,837 25,578
DoGusign Envelope ID." A7E472FA.3$8wDE-8E443SF?21797B THE SYDNEY DRISCOLL NEuR0CIENcE FOUNDATION (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2025 Ro$ou08 8xp8nd8d Year ended 5 Aprll 2025 Yearended 5 Aprfl 2024 Charitablo activities Direct costs Project funding Library services 41,493 9,831 76,209 5,881 51.324 82.090 Support ¢o$ts Insurance Accounting and adminislralion fees Bank charges Sundry expenses Governance Accountancy feeslAuditorfs remuneration (inclusive of VATI 423 5,280 391 4,288 60 2,775 540 2.510 3,680 8,753 11,174 Total charltable actlvltles 60,077 93,264 Cost of rnlslng lunds Investment management charges 5,29S 5,378 65,372 98,640 Project funding includes.. £30,304 Lancashire Teaching Hospitals (inSttiOn) and £7,446 University of Lanca5hire Grant. 202S 2024 Auditor's TemuneTab"on$ consis15 of the followng charge5'. Audit of the financial statements lexdusive of VATI Independent examination of the financial statements lexdusive of VATI 3,050 2,500
DoGusign Envelope ID." A7E472FA.3$8wDE-8E443SF?21797B THE SYDNEY DRISCOLL NEuR0CIENcE FOUNDATION (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2025 Invostments Market Additions value at 6 April 2024 Sales Change in procèeds value Market value at S April 2025 Cost at S Aprll 2025 M & G Investments Charifund 142.696 11,557) 141,139 95,484 CCLA investments COIF Charities 13 13 12 Johnson & Jonson 2.45°h corporate bond Brunner Investment Tru$l F&C Trust Bellevue Healthcare Trust Scottish Mortgage Trust Schroder Asian PIC UK Treasury 3.25% Automatic Data Processing Microsoft Corporation Amazon Deere & Co Zurich Insurance Group Siemens Givaudan Alcon AG Premier Miton Investment Funds 47,899 362 48,261 49,998 6S.250 15.4501 59.800 50,113 Investment 57.767 1202) 57.565 50,065 41.393 110.4941 30.899 50,649 35.760 11,544) 34,216 49,883 45,000 12,600} 119 42.400 19.716 49,949 19.597 19.597 19.952 12,1991 17,753 19,952 19.763 20.323 19,427 13,0181 15,735 12,758 16.745 14.588 16,669 19.763 20,323 19,427 20,415 19.158 21.459 20.455 1341 13,6611 17501 12,080 20.381 15.497 20.709 18,375 20.415 19,158 21,459 20,455 20,090 13,0101 17,080 20,090 435,778 200,639 144,6121 591,806 596,572 The aggregate amount of listed investments at 5 April 2025 was £596,559 {2024.. £435,765) The aggregate amount of cash and cash equwalents al 5 April 2025 was £1312024." £131.
DoGusign Envelope ID." A7E472FA.3$8wDE-8E443SF?21797B THE SYDNEY DRISCOLL NEuR0CIENcE FOUNDATION (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2025 Dgbtoys Year ended Yearended 5 April 5 Aprll 2025 2024 Prepayments and accrued income 4,196 3,693 Crodltors: amounts falllng du• Ihlthln on• y•ar Yoar ondod Y9ar8nd8d S April 5 April 2025 2024 Accruals 4,250 6,180 Tru$tee$' remun•ratSon, Iruslffis. 8x¢S and remun•rntSon pald to key management personnol None of the trustees received any remuneration or expenses during the current or previous year. The charity had no paid key management personnel during the current or previous year. Fln4ncl•l ¢ommblm•nts The Foundation entered into an agreement in 2019 wrth the University of Central Lan¢ashire lo contribute £100.000 over a period of three years lo a joinlty managed s¢heme for resear¢h into treatment of brain cancer. This project is now proceeding and a series of research projects have been identified which ¥MII use the full contributson. 10 Taxatlon The Foundation is a registered charity and consequenUy the is no liability lo tsxation on income derived from its charitable actwities. 11 Financial instruments 2025 2024 Carying amount of financial assets Measured al fair value through nel Incomelexpenditure 591,8C6 435,778 -12-