INCHI 'fRUST LIMITED
F￿ANCIAL STAIEMENfs i?OR T14Eq YEAR I=,NI)ED 31 ST DECEIMBER 2024
CONfENTS AND CHARITY INFORMA'fioN
CONTENTS:
PAGE:
Report of the Trustees
Independent FJxaminers Report
Statement of Financidl Activities
Balance Sheet
Notes ts> the Finallcial Statements
10-14
TRUSTEESIDIRF.CTORS.,
Mr Richard .lohn Icidd
Dr Raymond John Boucher (ChaiT)
Dr Richard Michael Hartshorn
Dr Stcffai Pauly (resigncd 315t December 2024)
Dr Ian Bruno
Professor Sonja Heidi Marlene FIc￿es-Paw1IS
Dr Anne Nijs
Dr Dawn Lorraine George
Dr Wendy Marie Patterson
Dr Pieder Caduff (resigned 30 July 2024)
COMPANY SBCRETAKY..
Dr Ian Bnino
C'OMPANY REGISTRATION NUMBER..
06906661
CHARITY IIEGISTRATION NUMBER:
113 8670
RBGISTFRED OFFICF.:
26 '1'wiLkenham Court
Cambridge
CB4 2Etx
INDf.PENDENT EXAMINERS:
Ian W Shipley >LCA
For and on beh￿rof.
Pientis & Co LLP
Chartered AccountaDts &lld Illdepondont Examiners
115c Miltun Road
Cainbridg
CB4 IX
BANKBRS..
National Weslminster Bank PLC
21 Pctty Cury
Catllbridge
CB2 3NE

INCHI I'RUST I.IMI'fED
FINANCIAL STATIMLNT8 FOR TI-IB YEAR LN.DED 3 IS-L DECF.MBFR 2024
TRUSTEES R]-.,PORI"
lThe Trustses, who are also directors of the charity for the purposes of the Companies Act, present their ai]nual report
together with the financial statetnents of InChI'l'rust Limited foi'the year ended 31 stDeceniber 2024. The financial
slatements comply with the Charities Act 2011, Ihe Coinpanies Act 2006, th¢ Memo￿]dum and ￿tICleS of
Association Accountlllg aiid Reporting by Ch&rkties: Stalement ofRccommended Practice applicable to charities
prepariiig Ibeir accounLs in ¢iccordance witj) the f4iiiancial Repoiting Standard applicable iii the UK andRepublic of
-eland (FRS 1020) (effective 1st January 2019).
STIIUCTURE, GOVEIiNANCE AND MANAGLMEN'I
Constitution
InChI Trust Lijnited is registered us a charitable company limiled by guaraiitee and was set up by amemorandwn ol
Association dated 15th May 2009. It is a registeird charity nun]ber1138670.
b. Mcthods of appointment or election of Truytees
I'he management of the Trust is the responsibility of ihe truslces who are elected and Go-opted under the tenns ofthc
ArtiGles of Association.
Organisational structure and decision-making policies
The Trustees set our strategic objeLtives, thes¢ rclal'ed to our technical and developmcnt r(yathnap aro nianagod
by our fechnical. Director, Geld Blanl<c, wil'h reference to the Chair, Secreiary and "I'rea8urei' ov¢r questions of
policy, strdlegy and 2ny financial implications.
d. Policies adopted for I'he induction and training of Trustees
Ncw Irustees are directed to the Charity Commission guidance on their responsibilitios
(https:l/www.gov.uldTunning-charity/trustLe-role-boaJ'd) andmorc speciffically thg"Fss¢ntial trLlStce" document at
{https:IIMryvw.gov.uldgovernmenVuploadslsystcmluploads/attdchmcnl daia/filc14510201CC3.pdO.
iiiiancial risk management
Tho trustees hav¢ assessed the inajorrisks to which the'l'rust is exposed, in particular those related lo the operations
&nd finance of tlie Tnist, and are satisfied that systeins and proccdures aTe iii place tu initigat8 exposure to themajor
risks,
OB,I[I CTIVLS AND ACI'IVITIES
rhe pi-incipal objecl of the TTUbt is to develop and support ib¢ cunent InChI algurithin.
The 'frust' s obje¢t8 are specifically restrict¢d to the advallcement of 80icnce for the public bcnefIt, in Pdrticular by..
Developing, reviewing and disserninating tlie intei-nationally a￿e¢d standard Tepresentation, the Inten]ational
Ui)ion of Ijure ￿]d Applied Chemistry (IUPAC) International Cliemical Id¢ntifier (InC]ll), of d¢fined cheiniciL I
structure aiid thell links lo related intormalion.
Developing 8n organisational framowurk for impletnttntalion of and compliallLe with such codes of practice;
Contributing to the use undei'standing of chen)ical 8lruclui'e standards and r¢lated infortniltion.
In selting objectives and pltinniug. for activities, the TrusteLs have giveii due consideration to geiieral guidallC¢
published by tILe Charity CoiJmissioii relating to public beiicfil, tncluding die guidanc¢ 'PLiblio benefit.. running a
lh￿￿tY (PB2)'.

INCHI TRUST LIMITED
PAGE 2
FINANCIAL STATEMENfs FOR THE YEAR ENDED 31 ST DECEMBER 2024
TRUSTEES REPORT........
IcowrINUED
I. REVIEW OF ACTtVITIES
In 2024 we continued to address our key aims: growing the InChE community, supporting new applications and
extensions of the Inchl standard, while providing a governance framework ￿ balance standards developmenl
with the expectations of our communily.
The key strategic aims of the Trust remain:
Global adoption and use - increasing the engagement with the chemisty community for the benefit of
science and business
Maintenance & extension of the InChI and applications
discovery and business innovation
Governance- lo provide an o￿aniSatIonal framework that ensures the sustainability of the standard
to facilitate rapid and effective research
We have prioritised the support of the development and governance framework for Inchl and its applications. while
promoting the adoption and use I1￿)Ugh webinars. attendance at symposia. and regular newsletters.
A great summary is provided by'chemisls unite! InChI is now built for collaboration- and scale", a news item
produced by one of our members, Elsevier, which summarises both the hisiory and the importance of our new
developmenl and governance frameworks, setting us up io be able to provide a transparent and sustainable standard
with widest possible application for public benefit. (https:l/www.elsevier.com/connecVchemists-unite-inchi-is-now-
buili-for-collaboration-and-scale)
Chemists unite! Inchl is now built for collatK)ration-
and scale
Events and Outreach
Onlin¢ Tecl]nical U date
26 March 2024
An online session provided updates on: technical developments, Subcommittee and working group activities,
organisational updates from the Inchl T￿51, and IUPAC CPCDS dek'eRopments
(https.'Ilwm¥.you￿be.conVWatch?rbs8W￿J tD Q)
We were also able to sponsor, help organise and participate in a two-day workshop on Sustainable Busine8S
Modeling for Digital Standards De￿.el0pment. This brought together a number of standards projects from related
fields, to explore shared challenge.% maintaining and promoting stsndards such as Inchl to acceleraie research and
consequent public benefit.

INCHI TRUST LIMITED
PAGE 3
FtNANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST DECEMBER 2024
TRUSTEES REPORT....
/CONTtNUED
Inchl in Action- Aachen Technical Meetin
2￿25 Jul 2024
A two-day technical meeting was held at R wfH Aachen, focusing on..
- Inorganics prototype, inorganic stereochemisty. enhanced (organic) stereochetnisty
Programming issues and architecture (Mlnchl, Nlnchl. IUnChI)
Industry applications and legislative considerations
The event included group reporting. prototype feedback. and discussions on lonnat changes and shared code
streams. Technical update summary.. ht￿S:]IwWw.Y0UIubC.¢on￿watChg￿I S5hDu5jPos
11
ACS Fall Meelin
- Denver
Presentation8 and discussions look place ai the ACS Fall Meeting in Denver. highlighting community engagement
and technical progress.
Jl

INCHI TRUST LIMITED
PAGE 4
FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST DECEMBER 2024
TRUSTEES REPORT... .
..ICONTtNUED
Standard Software development
Incht Version 1.07 Released.
The latesi Inchl version 1.07 was approved by IUPAC and the InChI Trust in July - a transforniational step in our
development to support the slandard. Now on Github. with a standard MIT license
fully tested for back-
compatibility, bugfixes. and a foundation for future extension and maintenance.
Subsequent bugfix versions have also been released, demonstrating the ability now to quickly and release
improved versions through a streamlined agile developmeni pipeline and process.
We have also, in conjunction with IUPAC. developed a new governance framework that provides oversight of
scientific and tecbnical roadmaps. This will build on our existing responsibilities and partnership with IUPAC, with
a scientffific steering group reporting into IUPAC CPCDS cofflmiltee, and a technical implementation group reporting
to the InChI Trust. Both groups will work together ￿ define, develop. tes1 and approve new releases of the sLqndard
to ensure ba¢kward compatibtlity and that li meets the needs of the scienlifi¢ community.
Membership and fundraising
The source for funding in 2024 was membership subscriptions, and we mainthined our membership nutnbers as
expected.
CCDC
ccs
CHINESE
CHEMICAL
OCIETY
CAS
NIH
Nisr
' jOpenEye
I.LSEVIER
ontOiliei11
ROYAL SOCIETY
OF CHEMISTRY
SpRINGER NATURE
OWILEY
We are con8idertng additional routes for project support. such as benefit in-kind resources as these are just as
valuable to the project as paid InChI Tnk5t memberships. The support of the HeFres-Pawlis Lab at Aachen University
from the Volkswagenstiftung, DALIA and NFD14Chem has and will continue to contribute major developments to
the project. The Beil%tein-Inslitul has also provided cheminfonnalics resource forthe project, which has been crucial
to the recenl mornentum. This has allowed the Trust to concentraie our support on the technical coordination of the
project through our Technical Director, Gerd Blanke. who ive alw thank for his expertise and contributions.

rNcHI TRUST LtMITED
PAGE 5
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ST DECEMBER 2024
TRUSTEES REPORT............ICONttNUED
UP,'IIJF
BEILSTEIN INSTITUT
(•D NFD14Chem
Volkswagenstiftung
Oata
Lttezacy
Alllance
2. FINANCIAL REVIEW
The Trnst received income of £145,377, ¢OTnprising restricted donation income of £NIL (2023.. £NIL) and
membership subscriptions of £144,289 (2023.. £121,850). During the year, expendittLre was incurred of £107,598
(2023: £231,731) leaving net incorne of £37.779 (2023.. nel expenditure of £97,815). All of the Trust's funds are
unrestricted. Ai the end of the year, the T￿￿1 carried forward funds of £305,015 (2023.. £267,236).
3. RESERVES POLICY
The Trnst has operated a rese￿eS policy that should allow for two years of operational expenses as reserves, which
would allow time to refocus activities should our revenues decline unexpectedly. This equates to S320k (converted
to £255k) and the current reserves at the end 012024 are above this flgure. However, ourbudgei is aimed atreducing
the reserves to around our target. We expect lo reconsider our'steady state, of commitsnents and the reserves policy
in 2025.
4. PLANS FOR THE FUTURE
These ￿,111 prirnarily be io support the scientific and technical roadmap - being able to release and support new
versions with additional funclionalily. and to do so in a more open and transparent development enviromnent.
Development of prototypes for molecular inorganics
Extended stereochemistry representation
Exploration of new architecture layers, consideration of unified data forniats and shared codebases
{MlnChl, NInChl. RInChl)
Emphasis on test environments and sustainable development practices
Applying new govcrnan¢e processes to cover scientific and ie¢lmical oversight of the standard
Workshops and symposia have proven successful as a way to support our community and maintain scientific
progress while bringing in a wider audience and these will continue.
5. STABLITY OF THE TRUST AS A GOThG CONCERN
Our fmances have continued lo be stable into 2025, with the majority of ourmembership income already received as
usual. The rapidly changing publishing and economic eni.-ironment has the potential lo cause a slight dip in our
membership revenue in 20?6 and so we haTre budgeted accordingly, with forecasts oul to 2029. Our fll)ancial and in-
kind support comes from publishing, academia. goi'ernment and the life science industy thus minimising our
reliance on any one sector.
The Trust remains fmancially solvent and sees no immediate threat to our ability to operate as a going concern.

INCHI I'JIUSI. LIMITL7D
PAGE 6
r,'INANCIAL SY'ATL'MEKrs roR I'HE YIAR ENDI"'I) 11 ST Df,Lfr:Mkll.':512024
I'RUS'fL, ES RLIPOR"I'.,.
,.IcotrrriNLTr.I)
TKll8'fEFS RF.SPON,SXIJII.rnF.S SI"ATEMirvT
Trustees (whu ar¢also ihe directors ofth¢'fiusL fortsi¢ piui)oses of coinpatsy l&w) rx*sponsil)l¢ forprepJxin
thL TnLStttts' Report the fmancirtl in a¢¢oi'daiic¢ with 4¥ll￿ble l&w aiid Iltsil$d Kin8duni
Accounting stand￿&8 (United Kin¥doin Cienerdlly A¢e¢pted A¢knounting ProLlicL).
Conipttny rharity law ri'4uir¢s tlie'frusfy¢s Io pi'Lpar¢ I'1114tllLlitl st&leFii¢nts foi, eu¢li fin&ncial ysar whiLh give
true and fair view of tlL¢ Slatv ol'affairs of the Lh￿ilable£0mp&l]Y kind of the incoming resources applicalioll of
r¢sourr¢y, iti¢Liiding thtr inLuii)e wid ¢xp¢rAdiiur¢, of the cl)¥li'liable compuDy for that p¢riod, Iii prep&rIi.i￿ *hes¢
fr"ll)Aiicial slotemeiil￿, Ilio ITU5tees ate requii'ed to,.
selerl Sliilable accoiinling polici¢s &nLt then &pi?Iy them Lonsislently;
observ¢ metliuds and prinotple9 iu th¢ Clittril), SORI).
make judgLY(ients #nd vstiinatvs that are F￿1￿￿￿&bIt prii(leni'.
stat¢ wliethw, applthbl¥ U.K accowitmig &tsiidiLrds hav# b¢#itt follow¢d. siibj¢¢t t¥) (illy nuterial depamres
disclosed @nd &YplaiYLed in the financial stAt¢ments'
pi'epwty the finaneiHI statements on the goi1￿ ¢ollcerll bdSi.s unlegs it 1$ uiapprupriut¢ lo pre￿ume the
cljantabk ¢oinpany will continu¢ in op¢raÉiun.
Tli¢'fnL4tees ire respoi)xible fui. I(èepll￿ ad¥quate accountin&r¢LtsrdsthL<c di8¢losL¥ wiLh reasonable &tcouraey at any
tinie the financial positkon (If tl)c cbtwiknbk c(InipiMy and 6nable tlium ID en%ure thot the fman¢ialstatLlli¢Jil% eumply
with the CoEnpaiiT¢S Ac't 2006, They artt Also r¢spoiJslble lar %ittiguardingih¢a55ety i)f th# Lbarit4bl# cou)w&rny
lot takiit8 r¢&sonalil¢ slLps lor Ibe prev¢D.tioll and d¢M'tion of fraud ￿th¢y if¢EIWÈl¢ts.
Tlie'frustees a￿ I'¢$p0tt5ible foi. m&illlen&3ce kMiLI Inteirity uhuritablo aiid fill4rneial illfonnalion
lu(l¢d Im the charliy's web$il¢.
'rhis rtti)nrt' was approvLd by thts trust¢ey (In 26 Augu512025
anil signed on th¢ir ￿half, by.,
MR IUQ'HAR.D KIDD
'I"IIUSTEE & lllFASURE,'R

INCHI TRUST LIMITED
PAGE 7
FINANCLAL STATEMEKFS FOR THE YEAIi ENDED 3 1ST DECEMBER 2024
INDEPELYDENT EXAMINER'S REPORT TO THE TRUSTEES ofi INCHI TRUST LIMEYED
I report to the charity TnL8tees on tny examitiation of the accounts of the Charitabl¢ Company for the year ended
31 D¢¢¢mber 2024.
RESPONSIBILITES AND BASIS OF REPORT
As the ch&ritVs Trustees of the Charitable Company (and also it8 directors for tbe purposes of company law) you
are respon8ibl¢ for the preparation of the accoullts in accordance with the requirements of the Companies Act
2006 ('the 2006 Act,)
Having satisfied myself that the accounts of the Charitable Company aTe not required to be audited under Part
16 of the 2006 Act and are eligible for Indepet￿ettt examination, I report irt respect of my examination of your
charity's accounts as carried out under 8ection 145 of the Clwitie8 Act 2011 ('the 2011 Act,). In carrying out my
examination I have followed the Dire¢tion8 given by the Charity Con)mission under gection 145{5)(b) of the 2011 Act,
INDEPENDENT EKIMINER'S STATEMENTS
I have completed my exan)ination. I Gonfjrni that no matters have come to my attention in connection with tho
examination giving me cause to believe:
l. accounting record8 were not kept in re8PeCt of the Charitable Compatty as required by section 386 of the 2006 A¢t'
or
2. the accounts do not accord with thos¢ records" or
3. the accounts do not comply with the aocounting tequiretnents of section 396 of the 2006 Act other than any
requiretnent that the accounts give a'trne and fair view which is not a matter considered as part of an independent
eAamination,' or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of
Recotnmended Practice for accounting and reporting by charities (applicable to ch&rities preparing their accounts in
accordance with the Financial Reporting Staudard applicable in the UK and Republic of Ireland (FRS 102).
I have no cortcerns and have come acTOSS no Oth￿ matters in connection with th¢ exan]ination to which attention
8hould be drawll in this report in OTdeT to enable a proper understanding of accounts to be reached.
This report 18 made solely to the Tn￿t'S Trustees, as a body, in accordance with Part 4 of ihe Charities (Accounts and
Reports) Regulations 2008. My worlc has been undertaken so that I might state to the Trnst's Trustees those matters
l am required to state to them in an independent examiner'g report and for no other PUTP08e. To the fullest extent
pern]itted by law, I do no accept responsibility to anyon¢ other than ihc Trnst aud the Trnst'8 Trustees as a body,
for my work or for this ￿POrt.
IAN W SHIPLEY FCCA
FOR AND ON BEHALF OF,.
PRENTIS & CO LLP
CKARTERED ACCOUNfANrs &
11Sc Milton Road
Cambridge
CB4 IXE

INCI41 TIiUST LIMITED
PAGE 8
FINANCIAL STATEMENTS FOR fHE YLAR ENDED 31 ST DECEMBER 2024
STATEMBNT OF FINANCIAL ACI'IVITIF.S
Unreslricted Total
Funds
Fund5
2024
2024
Unrestrictgd Restricted
Funds
Funds
2023
2023
Total
2023
Noto
INCOME FIIOM:
DoThatÈons alld legacies
Charitable activities
Interesl. received
12,066
12,066
121,850
144,289
1,088
144,289
1,088
121,850
TOTAL INCOME
145,377
145,377
121,850
12,066
133,916
EXPlli IYDITURE ON:
Charitable activities
107,598
107,598
231,731
231,731
TOTAL EXI)ENDITURE
107,598
107,598
231,731
231,731
NET JNCOMEI l(EXPENDI'fuRE)
Transfers between funds
37,779 (109,881)
12,066
12,066
(12,066)
(97,815)
NET MOVEMENT IN fiUNDS
37,779
37,779
(97,815)
(97,815)
RLI CONCILIATION of4 FUNDS
'rotal fundg brought Fonvard
Net mov¢inent in funds
267,236
37,779
267.236
37,779
365,051
(97,815)
267,236
365,051
(97,815)
TOTAL FUNDS CARRIED FORWARD
305,015
305,015
267,236
'rhe Statein¢nt of Financial Activitics includes all g&in8 and losses reLognis¢d in the year,
The notes on pages 10 to 14 fornL Piirt olthese financial staterncllts.

INCkll TRUST I.IM11'F,D
I,'LTrIANL'IAI. S'L'AI'FMF.wrs FOR'fH.I-. YLAR F.NDED 3 IS1. DECLM13PII 2024
BALANCE SEIPEI-
2024
2023
Note
CURREN], ASSLTS
l)ebturs
C8sh al bank
17,214
31.4,381
24,560
274,279
TOTAL CIIRRWNT ASSETS
3J1,595
298,819
CREDTI'ORS: aroounts fa]lit]g du¢
wiihin one y¥ar
26￿&0
31,603
NE'f CURRENI, Assf,TS
305,015
267,236
THF. .VUNDS OF THF CIIARtTY
Ulirestricted Income funds
305,015
267,236
TOT AL CHtiRITY FtrNDS
30.i,OlS
267236
directors Cunsider Ehit the company 1% ¢niilled to #x¢nwtion from th¢ t¢quireinent to Iiiive an audit ￿llder IhL
provi8iorJ8 <Jf SKtion 477j l) of the Lompallios Act, 7006. M¢mber8 havt iiotrttquiytd the comp&i)y Sk¢lion
476 of Ihe Cc)rnpalliLs Act 2006, to ublaiFJ an audil f(ii' thtt year #llded 31 SL Deeemb#i' 2024. Tl14 dir¢otors
aoknvwledge their I'eypoJsibllili¢y for ensi￿1]g khat th¢ co1npally Lteps ttceouiilin¥ rBcords wl)ich ¢oinpl} wtth
SpoLioii 386 and 387 uf thL Compank¢S ALt 2006 an(1 for prcparii)g finllncial statements wliich &iv¢ u true 4iid fai
view of the State of uffairs vl the company dl 31s't Dttcembr 2ll24 and of its $urplus tor ye4w then ¢iid¢d 11)
&¢¢ofdaL)C¢ With the requir¢tn¥rylg of S¢¢tion 396 and whi¢b (ytli¢i'iYise coinply with th¢3 roquiruinenL% of the Act
rolating to the ti￿￿¢1&1 ut#tem¢nts as far as applicable to thtt ¢omp&ny.
The tin£iiicLal stareinents. wljirh have been w¢p8r¢d in a¢cardaEice wlih thu speciul Provisions rttlating l() llic coinpaaits
subject to tho Slllall ¢oinpaMi£s regiine withiii Part lfj of th¢ LO￿p[L￿1#s A¢1 21106, woro approv¢d by Ilio bO￿.d 2fj August 2025
sign¢d on ils bilialf.
MR RILFIARI) KIDD
TRUSTBE & TRFASURLK
1.he note,￿ <)n page5 10 10 14 forin pait of th¢se fin2nclal 4iatements.

INCI-11 TRUST LIMITED
PAGE 10
FINANCIAL s'fATEIIIE4NTS FOR TFIF. YLAEi ENDED 31 SI. DECFJqBER 2024
NOTES TO 'fFIEI FINANCIAL STATFMLNTS
ACCOUNTING POLICIES
1.1 BASIS OF PREPARATION OF FINANCIAL ,STATEMEI Nrs
The financial statements have been prepared in accordance with the Charities SQIiP (F.RS 102) -
Accounting and Reporting by Charities.. Statement of Recomtnended Practice applicable to charities
preparing their accounts in accordttnce with the Financial Reporting Standard applicable in the UK
and Republic of IrLland (FRS 102) {secund edition of tlie Charities SORP (FRS 102) October 2019.
effectkve l January 2019), the financial Reporting Standard applicable in the UIC dnd Republic of
Irelalld (FRS 102) and the Cojnpanies Act 2006.
InChI Trust Limited meels the definition of a public benefit under FRS 102. Assets and liabililies are
initially recognised at liistorical cost or transaction value unless othenvise stated in ihe relevant. aecounting
poIiGy.
The fLmCtional dnd piEs¢niational currency of the Charity is pound sterling.
Thero were no significaLt judgements or estimates made by m￿agement in preparing these fmancial
statements.
J..2 COMPANY STA TUS
The Inchl T￿st is a company limited guaratltee and illLorpuraled in England and Wale8. In the eveiit of
the Trust being wound up, th.e .liabilily in i'espect of the guarantee is limited lo £10 per member of the
I'rust. The address of ils rewlered office is disclosed on the Contents and Cojllpany Infoiinalion
page,
1.3 GOING CONCERN
The Trust'ee5 have reviewed the financial posRtion of the frust and have a ieasonable expectation thal. tb¢
Trust has adequate resour¢¢s I'o continiie in operational existence for the foreseeable futhi'e. Accurdingly,
the fjnancial siatemeDI's continue to b¢ prepared on the going concern basis.
There are no i]]&terial uThc¢rtainties in relation I'o going coiicem.
1.4 f<UND ACCOUNTING
General funds are unrcstTlCted funds which arc avai lable foT Use al tlie discretion of the tntstees in
furthernnce of the g¢n¢ral objectives of ihe Trusl and whicli have not bccn designated for other purposes.
Restricted ￿lldS are funds which are to be li¥￿ in accoi'dance with specific restrictions iinposed by donors
or which have been raised by the Trnst for parLiculaT purposes. The costs of raibing and administerllig
siich funds are charged agaiitst tlie specific fund. 'fhe aim and use of each restiicted fund is set out ill
the notes to the financial 8tatemenls.
1.5 INCOME
All income is r¢cognis¢d onc¢ th¢ Trust has entitl¢rnent to tli¢ incoin¢, it is probablc that the illcoino will
be received the an)ount of inLome receivable can be measured i'ellably.
Grants are included in the ,%iatement of Financial Aclivitics oil a reLeivabl¢ basis. I'h¢ balance of income
received for specific piirposes bul not expended duriiig the period is showii in the relevant fuiids on
die balancc shLcl. Whcrc incomc is reccived in advance of enlitlement of thc i'eceipl, its i'ecognition
is deferred and included in creditors as deferred llLoine. Where entitlement OCCLirs before income is
rcceived, the income is accrued,

INCHI TRUST LIMITED
PACJE I I
rINANCIAL STATEMENTS FOR'f14F YBAR ENDED 31 ST DECIMBEII 2024
NOITS TO THE F￿ANCIAL STATEMEN'rs
ACCOUNTtNG POLIcIESI...................CONT￿ullD
1.5 1NCOIVIE/.................................COIYTINUED
Interest on funds lield on depusit is included when receivable and the amount can b¢ measured
reliably by the I'rust. tbis is normally upon notification of thc interest paid or payable by Ihe Bank,
Membership subscriptions al'e recognAsed in tlie year in whiuh they re¢¢ivod exc¢pt wbere there is
ali element relating lo a future year, which is allo¢at¢d accordingly beiwe¢n the two financial periods
with future incomo being carried forward as deferred income, Entitlement to the income is deemed to
be probable when the membership organisation has completed ils internal approval process and is
usually followed directly by the payment.
1.6 EXPENDTURE
Expendilure is recogni5ed once there is a legal or constructive obligation to trdnsfer economic benefit
to a thu-d party, it is probable tl)at a transfcr of economic b¢nofits will b¢ required in settlernent and
the amount of obligation can be ineasured r¢liably,
Expenditure on charitable artivities is inciuTed in dire¢tly undertaking th¢ activities which ￿rther the
Trust's objectives, as well as ￿]Y associaled support Costs.
Governance costs are those incurred in connection with administration of the Trust and compliance with
constitutional and statutory requirements.
All expendilure is inclusive of in'ecovcrable VA T.
1.7 DEI IITORS
I"rade and otber debtors are recognised at the settlen]ent amoutjt after aiiy Irade discowit offercd.
Prepayments valucd al th¢ tunount prepald nel of ￿lY Irad¢ discouiits due.
1.8 CASH AT BANK IIND IIN IIAND
Cash at bank and in hand includes cash and short-teTm highly liquid investtllents witb a short maturity
of three moDths or Icss from the date of acquisilion or opening of the deposil. or similar account.
1.9 LIABLLITIES AND PROVI,SIONS
Liabilities are recogLiised when th¢re is an obligation at the balallce skLeet date as a result of a past
event, it is prob(Ible ihat a trdnster of economic benefit WILI be required ill settlement, and the amount of
the s¢ttl¢ment can be estimated r¢li&bly,
Liabililies are recogiiised at the ￿naunt that the Trust anticipates it" will pay to sottle the debt or die
amounL is has reccived advanced paynents for lh¢ goods or services it must provide.
1.10 FINANCIAL INSTRUMETr4TS
'rhe 'frust only bas finaticial assets and financial liabilities of a kind that qualify as basic financ2al
instnllnents. BasRc f￿anCIal instruments ar¢ Initially recognised al a transaction value and subsequently
m¢asured at their s¢ttl¢ment value with the exception of b<mk loans which are subsequently measured
at amortised cost using th¢ effective intsr¢sl mothod.

INC'HI. TRUS'I. LIMITED
PAGE 12
FINANCIAI, STATEMENTS FOR THB YEAR ENDED 31 ST DF.CEMBER 2024
No￿.s I"0 TIIE FINANCIAL S'I"ATFMENTS
ACCOUNTING POLICIfiSI.................,.coNfINUFD
1.11 Tr OREICN CURRLINCIES
Monetary assets and liabilities denoininated in foreign currencies are traiislated into sterling at rates of
exchange ruling at the reporting date.
Transaction in foreigll currencies aTe translated into sterling ilt the rate rulillg on the dal'e of the
transaction.
Exchange gains and losses are recognised in the Slateiiient of Financial Activitie8.
1.12 CASH FLOW STATFMENT EXEMI?I'ION
The Trust ha5 talcen advantage of exemptions under Lharities SORP and Section 7 of FRI 02 lo not
produce a Stateinent of Cash flows.
DONATIONS ANI) LEGACIES
'rotal
Fund3
2024
Total
2023
Grants
12,066
INCOME FIIOM CHARI'IAJ3LF ACTIVITIES
Total
Total
2024
2023
Membership subscription8
144,289
121,850
AIK income froiii ¢harilablL aLtivitios in 2024 and 2023 wa8 unr¢stricted.
EXPENDITURF B Y ACTIVITIES
Direct
Costs
2024
Support
Costs
2024
Total
I,'iind8
2024
InCliJ algorithin
88,962
18,636
107,598
Total 2023
185,689
46,042
231,731
ANALYSIS OF DlliECT cosrs
2024
2023
Directors, expenses
Directors, fee8
Insurallce
Foreign exchange differcnce8
Bank clL2rges
Coinputer costs
Misccllaneous costs
Conlcrencc Costs
WorlL%hops
Consultallcy
13,659
74,154
2,562
(3,211)
291
794
ss
625
20,475
135,716
2,226
17,616
279
609
245
519
8,004
185,689
88,962

INCHI TRUSI. LIMrrED
PAGE 13
FINANCIAL STATEMENTS FOR THE YEAII ENDF.D 31 ST DECEMBFR 2024
NOTES TO THE FINANCIAL STA'fEMEN'rs
ANALYSIS OF SUPI)ORT COSTS
2024
2023
liidependent examiner's fee (governance)
S¢cr¢tarial expens¢s
VAT payable under the rev¢Tse charge
3,360
1,007
l4,269
7,918
1,472
36,652
18,636
46,042
KFY MANAGEMII NT PERSONNEI L, TRUSTEESI RII MUNERA TION AND EXI)fi NSES
I'be Trust considers its Icey management pergonnel lo be the Tntgtees and the Technical Direcl'or.
The operational activities of th'e Trust are uiidertalcen by a group coinprising tlie Chaimian, Secretary,
'rr¢asurer and Technical Director. The Trustees all give their timc and expertise without ally remuneration
or other benefits in Icind (2023.. £Nll). The Directoi's ure contracted Oll a freelanGe basis and &rg not
employees of the Trust.
During t1￿ year, frustees received, no reimbui'sement of expenses or had expensLs paid directly to a
third party on their behalf (2023.. £Nil).
DEI BTORS
DUE WITIIIN ONE YEAR
Prepayjnents and accrued income
2024
2023
17,214
24,560
CRII DIIOIIS: AMOUNTS FALLING DIJE WITITIN ONE YEAR
2024
2023
Other taxation and social security
Accruals and doferrcd inwrno
3,310
23,270
5,980
25,623
26,580
31,603
2024
2023
Deferred income al Isl j￿Ill￿Y
Membership incojne deferred during the year
Ajnounls ieleased fi'om previous peiiods
Deferrgd income at 31st Decerllber
21,663
22,851
21,350
21,663
(21,663) (22,851)
21,350
21,663
Deferred income represents membei'ship fees received in I￿vance.
STATFMENT OF FUNDS
. CURREN'f YEAR
Bltlance at
1st Januai'y
2024
Balance at
31st December
4xpenditwe
2024
InLome
UNIiESTRICTED FUNDS
General fund
267,236
145,377 (107,598) 305,015

INCHI IRUS'I, LIMITF,D
PAGE 14
FINANCIAL STAT'L7MENTS FOR THF YE,AR FNDED 318 r DECEMBFR 2024
NOTES TO THE FINANCIAJ. STATEMENTS
STAI'EIIrfENT OF FUNDS
- PRIOR YEAR
Balance at
1st January
2023
Balance at
Transfers 3 IBt Decetllber
inlout
2023
Income F,xp¢nditure
UNRCSTRICI'ED fiJNDS
General fund
365,051
121,850 (231,731)
12,066
267,236
RESTRICTED FUNDS
IUPAC Fund
12,066
(12,066)
TOTAL fuNDS
365.051
133,916 (231,731)
267,236
IUPAC
Fullding towards travol and venue hir¢ expenses assoLiated with LnChI conferencl, which toolc place
betwecn 17th and 19th June 2022. The transfeT to the Gencral Fund is intended to compensate that fund
for the travel and venue hir¢ expenseg incurred by the Tru%t during 2022.
RII LATFD I)ARTY TRANSACTIOLYS
Th¢ Tru3t has not entered into any relat¢d party transaction during the year, nor are there any
outstanding balances owing between related parties and the Trust at 31 st Deccmber 2024 (2023.. none)-