Chirftyre8lstrattcn nbmber: 1141953
The Injustice Foundation
Annual Report and FlThanclalStatem¢nts
forth8 Year Ended 31 gAarth 2025
Field SuSllvon Llmiied
9 Hare & Blllet Road
Èlackhtrèth
SE3 ORB

The Inhistlce Foundatlon
Contents (Contlnued)
Reference andAdmlDlst¢atSve DEtalls
Tru￿ee$, Report
2toS
Ind8pendentAudltOTS' Report
6t08
Statsmnt of Nnanclal Artlvltles
Balance ShErt
io
Cash Flowststement
li
Not¢$ tolhe Fln8nclal St•trmonts
12tol8

The In￿$11£• Foundatlon
Reference and Admlnlstratlve Delalls
Trwtees
Lord Imatthewmrnl EIIIDtt of Mlckel Fell
Lord (Jonathan Pètrlckl Moyblhan of Che55w OBE
1141953
Ch•rftyReRlstratlon Number
Prln¢lpal Ollkè
41 Che15e3 s9￿1
London
5W3 6LH
Auditor
Fleld Sulllvan Ilmlted
9 Hare & Ulll¢t Road
Blitkheath
SE3 ORB
PagE I

The Inlustke Foundatlon
Tru5tees' Report
The trustees presert the •nr4Jal report togetherwlth the Ionanclal statements and autiitors, report ol the tharfty
fortheyeareTrd*d 31 M8ffh ZQ25,
Twjtees
Lvd ljtsnathhn Patrlckl Moynlhan of Chelse• OBE
Ltrd Imatthewjlml Ellbttof Mlckl8 F911
Prfndpal Olft£e
41 Chelsea Square, Londol￿ SW3 6LH
Audltois
Fleld SulKvan, 9 Hare &8lllet Road. Blackeath, SE3 ORB
B•nkeTS
Lfoyds Bank, Andovet
ObSo¢tl¥¢s ond a¢tivllle5
Th¢ tharttys ob]ert54rt:
l. To promotehuman rlghtslasset owt In the unlver5al dedaratksn of human rfghts andsubsequent
Unlted Natlonsconventlon$ and de¢larattonsl throu8houttheworld by 411 tv anyof the followkng means..
Monltorlng Bbu5e50f human rfghts:
• ObtalnlDE redres5 foTthevktlmsof human rIBhtsab￿Se.
• Rellevln8 néed 8mountthevlrtlms ofhumans rlEht obuse.,
fte$Èarch Into human rl8hts l$sues: provldlng lechnlcal advl¢e to 8oveikiimtit aod othef50n
humath rlghts matters,.
ContrtbutlnE tothe 50ufhd admlnlstratlon of human rfehtslw,.
Commentlngon proposed human rfghts legtslatlon.,
• Ralslnu ¥W•ren￿ of humom rlghts ¢ssues'. promotlng publlc supportforhuman rlghts:
pr0motlnR respectforhurn￿￿ rlghts BmonB Indfvlduals and corpor4tlons.-
lThtewnotlonal advocacy ol hum4n rlghts;
• eiirnlnatinB Inl¥lngements of human rlghts.
Irb furthernnce of that object but not otheTwl$¢, Ihe Tru5teq$ are satlsfled ihat the proposed attivities wlll further
the purpoSE5 of the charlty io an extentjus￿fied by the re50urce5 rvmmitted ènd the ortlvlty15 nol the domlnant
mean5 bywhl¢h the charltycartled oui Its objects.
2.Th¢ rellef cf povqrty by provldlng funds hnd rnakl)18ronts to secure le8o14¢fvk¢ èsslstance and representatlon
to members olthegeneral p¥bllc.
Poge 2

The InJurtl¢e Foundatlon
Trustees, R•port l¢ontlnuedl
In ordor to achlEve thB alms and oblettlves of the charlty, the Tru5tee5 make thnatlons to a varlety of
o￿anIsatIoNs.
The Try5tee5 have pald due reyrd to guld•ncÈ Issued by the Charlty Comm1551on In d•cldln8 wh•t they
should undert41e.
The Trustees are aware of thE Publlc Denellt provlslon5 of the Charftles Act 2011 #nd of the Euldance On them
publlshed by the Charfty Commls51on. They are satlsfled t￿t the objects of the tharlty and the artlvltles of the
(harlty afe w51hln the deflnltlons of the Chorftsble Purpose 05 $ei down In the Art. TheTrustees ore nDt 4ware of
any publlc detrlmert caused bythe charW5 objetts or actlvltie5, and no¥ are they aware of anyone reCeI￿ni gny
FI￿ate benefitfrom tbechBrW5 Ortlvltles.
SlgRlficant4dlvltles
The oblertlve5 pl the charlty 41E to promote human rt8hts vla th¢ provlslon of 8fdllts.' the 8lvkn8 of adylce and
Infomi8tton; flldlltatlng wel￿¥￿* research, as nÈees5ary* vla sponsorshlpj glvlnB 8rants for I￿01 •d¥lce and
representotlon. ond otherchèrltable puiposesa$ theTrustee5 may from tlmeto tlme deterrnhe.
Donatlons are awarded atthedlgcretlon oltheTwstees followln8due conslderotlon of thefund$wlll ultlmat¢ly be
spent ID order to ensure the lurtherance ol the alm$ and oble¢tlves of the charfty. The ¢harJty r¢quests
post.donatlon updates on how the fund$have been 5peni.
A¢hlevem•n15 Perfoiman¢g
ChurltobleActfvltl¢
There hwe been no $l¢nlfl¢art devefopmeri orchan8esttstheBctlvltle50f the th8rltydurlmgthe lèrtyear.
Durlwtheyear thechgrlty rec¢fved donavons of £1,243,IOOand made dDn•tlon5 of £121,574.
Reserwe5 Pollry
The (￿rIty atm5 to rt8ln fr& reseT¥es 5ufflclent lo provlde idequatq worklng capllal t• fund Its thorltable
•ct4vltle5.
Rts*Asse55ment
ThE Trustee5 have assessed the major risk% to whl¢h the charlty Is expo¥ed, and are sat15fied that system5 are In
place to mitluite eXP05UTe to the malor rlsks.
Plun5lorfvtureperlodJ
It Is experted that the ¢harlty wln recelve fvrther donatlfjtss durlni the ¢omlnB nThonclal year #nd wlll contlnue I
makodonitlons to frjrther Its charfjtable obleLllve$.
Page 3

The InJust1￿ Foundatlon
Trustees, Report Icontinuedl
structur4 governonr*ondrnonogement
The rherlty 15 controlled by Its govtmlng do¢umert a deÈd of trust 51¥nid on 10 Mèy 2011. ThE ¢haTty was
re8lstered wlth the ch7rlty Commlsslon on 17 M&y2011 Bnd tonstltutes an unlncorporated charjty.
Re¢rnltrnenrondAppolRtmentof frustees
The power tsf appolThtingnewTrustee5 l$v•sted IntheT￿￿tEe$.
Orqunlsrtlont71Srructure
The Trusteès are responslble for formulèUng the strote¥le5 and poll¢les of the char￿¥ In¢￿dIng the exerdsln8 of
fln•nii41 controls.
On appolotmentTwstee5 are provlded wlth appr•prf¥tetralnknEtoallawthem to fuifsl theirdutles.
The charlty Is, In part, funded throtsgh donailoths from related p3rtle& The chHrMy re¢elved a donatlon gf £10￿00
from Moynltrus( a charlty that Lord Moynlhan 1$ ch31rman ol and Lord Elllott Is a Trustee of. Thls donotbn was
made wiihwtcondltlons.
Trusteesand offlce
Tho trustee5 and officer5 servln8durlngtheye¥r and slnce theyÈarend ￿re ￿fOllowS.
LDrd Imatthewjlml Elllott ol Mkk¥l Fell
lord Uonath3n Pat¥lckl Moynlharbof Che150g OBE
Trustee5'.
St•t¢meDtofTru$tows' REspunslbllltlos
Th¢ trustees are respon51ble Ipr preparln8 the trustEe5' report and the financlal statements In accordart￿ wlth the
UnltÈd KlnEdem Accountlng 5tandard5 IUnltÈd Klngdom Generalty Accepted Account5n8 fvadltel and appllcable
lawand rÈgulatlons.
Ihe13w appllcable to charltles r¢qulres the tru5tsp5 lo yepare ftnandal 5tHtements for e8ch finanri•l year whlch
fve a true arnd f8lr vlew of the state of affalrs of the thar￿ and of the Intomlng resources and Èppll¢atlon of
resourtesof the charbtyforthat perlod. In p￿PaT￿n8 these flnanclal statomÈnts, thetrustees ore requlred to..
selert$ultsble Bccountlng pollcles 8nd then applythem con$lstentlvp
observe the methods gnd prfndple$ kn the(har￿lESSORP,.
rnJkÈlud8tments and estirnates that areTea50nabl¢ and prudent,.
state whether applkable accountlnE 5tandard$ have been folh*ved subject lo any materfal departures
dlsc105ed and eKp181ned In the flnantlal staternents,. and
prepaie the fihonclal st•tements orn the gulng toncern b•5f$ unless It Is Ingpproprlats ¢0 pr•sume t￿t the
ch8rftywlll ¢oDtlnue In bu51ne5&
Page4

The Inlustlce Foundatlon
Trustees. Report Icontlnuedl
The trustees are re5ponslble for keeplng proper acrountlTh¥ rEcord5 that d15c105e ￿th rÈasDnable accuracy at any
tlmÈ the flnanclal posltlon of the charlty and enablp them to ensure Ihal the flnantlal statements comply w4th the
ChaTltles Att 2011, Ibe Charltles (Aetounis and Reports) Re8ulatiDn$ 2(KJ8, and the PTOV151ons of the con5titutlon.
The trustee5 are also responsible for safEguardlnE ihe asset5 Df ihe ch8rSty and hence for tak5ng reèsonable step5
for the prÈventlon 3nd detecllon of fraud arsd other Irregulariiles.
The trustees are responslble for the malntenance and Integrlty of the ¢orpor3te and Ilnanclal 5n[ormat￿n included
on the charliable compaoV5 webslre. LeEislatloD govèrnTn¢ the preparation and dissemlnatlon of finantlal
st3le¢nErit5 may dlffer from legislatlon In uther jvrisdict¢on5.
Dls¢Iosufa af Informatloth ta ¥udltor
Etsth trusteo hè5 taken Steps that they ought to have taken 8$ a trv5tee in ordErto make thern5pfve$ èware of any
relevant audlt i*)formatloTF ind to esloblish that the tharlty's audlior 15 aware ol thai InformBtIDn. The trustees
corsflrm thBt there Is no relevant InfDrm4t6un ihat they*now of and of whlch they knowthe audltor is unaware.
The annual report was approved bythe irustees ofthe charlty tin 22 May Z025 and slgned on Its behalf by..
Lord (Jonathèn Potrickj Moyhlhan of Chelsea OBE
Tru5tep
Page 5

The Inlustl¢e Foundatlon
Indqpend¢ntAudltoi's Reportto the Members of The Inlustl¢e Foundatlon
Oplnloh
We have audlted the flnantlal statements of The Inlustlce Foyndatlon <the'e￿r￿ty'1 foT the year end¢d 31 MBrch
2025, whlth comprf$e ihe 5tstement ol Flnandal ActlvltlEs. Balance Sheet. Cash FIDW Statsment, and Noles tv Ihe
Flnanclol Ststsments, Includln@ • summary Df Slgnlflcant at¢ountln8 pollcles. The financlal reportlng framework
that hès beEn applled ITh thelr pr£paratlon Is Unlted KlnBdom A¢countlne Stsndards, comprlslni thailtles SOAP-
FAS 102 Yhe Flnanelal Reportlng Standard appllcable In th? UK ènd Republk of Ireland. and applk3blE law Iunlted
Klngdom GenerdSly AcceptedAtcountln¢ Prarticel.
In our oplnlot)the flnanclal statem¢nts:
8fve 4 truB and lalr vl¢w of the 5tste of the chèrky's affalrs a$ at 31 March 2025 and of Its Incomlng resource$
and •ppllcatlon of resourtes, Indudlng its Incorne and expendiiure, forthe yeorthen ended..
have been properly prepaTed In a£cordaoc¢knrfth Unlted Kln8dDm GenerallyA¢¢epted Arcountlng Prn¢tlce; and
have be*n prepared In accordance wlth the requlrementstyf the Ch•ritles Act 2011.
easl$ loroplnltsn
We conducted our audt ID atcordunce with Internatlonal Stsndards on Audttlrw (UK) IISAS IUK)) and bppllcbbte
law. Our re5pon51b111tles undErthose5tandafds are furtherdescrlbed In the 3udltvr respon51bllltles fortheaudlt of
the finbnrlal 5tstement5 sethion of our report. We are lthdependent of the th4rlty In accordance wlth the elhlcal
requlrements that are relevant to our audlt of the nnanclal 5t4temenis In the UK, Including the FRCS Ethlcal
Standard. and we have fviniied OUT other ethlcal rpsponslbllllles In accordance with these requlrements, Wa
be11eve thatthe aud51 evldence we have obtainÈd 1$ sufficlent and approprf•tÈ to provlde a basls for ouroplnlon.
Okhtrmattqrs
The torrespondlnB ft8ure5 andromparatlve flnantlal statements In thè tuwentyearfsfinittelal statementswere
dEfbved from the financl8lstotementsfor the year ended 31 March 2024 whlch wqro not8udlted.
Conctrjslons ielatlngtoKolnicon¢ern
In iudltlnethe fln3nclal 5tatemetts, we hav¢ concluded thatthe tru$tèps use of thegolngconcem b#sls of
¢¢ountlng In the prepèrètlon of the flnan¢lal ststements Is approprlote.
Based ontheworkwe have PErform¢d we have not Identlfied any materfal uDcertalntle5 relatlw to eveThts or
ndltlon5that, Indfvldu?Il¥ or collertively. maycastslinlfi¢ant doubt on the chaimy's 8bllltyto contlnue as a gulni
cern for3 PErlud of at le05¢ ￿e7Ve monthsfromwhen the orl8lnal finantlal Statements were a￿thOrIsed for
155Ue.
Our re5ponslbllltles and the respon51biiiiles of the tntsteeswlth respect togolngconcern are destrfbed kn the
relevanl SÈttlon5 olthls report.
otherlnloTmatton
The trustee5 are ￿ponSIble lor the othor Informatlon. Ihe Ibther Infomialon comprfses the Informatloh Included
lo the annual rèport, other than the flnArtdAI statements ond our audltorfs report Ihereon. Our oplnion on the
firwndal statements does nDt (over the other Informatlon and, except to the extent othenv15e expllcltly 5tat¢d
Our report wedo not exp￿55 any fvim of 855urénce coThduslon thereon.
PaBe 6

The Injustlte Foundatloh
Independent Audltor's Reportto the Membets ofTlte Injustlce Foundatlon Icontlnued)
In tonnertkn %%lih our audltof the flnanrlal stat•nents, wrrespon51blllty Is to read the other Inforrnatbn and, In
dolng 50, conslder wheth¢r the olher Inlowm•tlon 15 m*eriBIW Inccnslstent wlth the flnattclal statsments or our
kfiowledge abtained In the iudlt or otherwl$e appears to be materfally rnlsstated. 11 WÈ identSfy suth materlal
Inconslstencles or opparent materlal mlsstatements. we are required to determlne whether there Is a mat8rlal
ml$stitement In the flnanclol Statements or a materlal m155tatement of the other InformatlDn. If, b8S8d on Ihe
work we h•ve perforned, we conclud• that thero 1$ a materlal ml$$tstement of thls other InformatloD, we are
requlred to report thatfatt.
We have nothlr*gto reptrrt In thls re8ard.
Mattqrs uTrwhlch wo ere Yequlrorfto r¢portby•xcqpilon
In the Ilght of our knowlÈd8e and undérststhdlng of the charlty and Its envlronment obtalned In the course of the
audlL we have nottdqntllled materfal mts#atements In Ihe tru5tee5 report.
We have nothlng to repDrt In re5pert of the following matter5 where the Chirltles (Accotsnts and Report)
Regulatlons 200B requlre5 Usto report lo you If. In ouroplnlon:
adequate accountln8 re¢ord5 have not been kÈpL or return$ adequate f#r our audlt have not been reol¥ed
from brnnthes not vislted by u5,. or
the financial statements are not in aireementwlth theaccouniin8 ￿Cold$ and retum5,' OT
certoln dlsclosures of trustee5 remuneratlon spetlfted by law are notm/de,' Dr
we have not ￿eefved all the Informatlon and explwn4tlpDswe requlre for our audlt.
Regpun51blllile5 oltrUSIQQS
A8 explalned more ful￿ kn the Statement of TrurteEs' Responslbllltles Iset out on pale 4 ind 51, the trustees are
rESPOAslble tor ihE preparatlon of the Ilnanclal ststernents and for beln8 5at15fied that they 8lve a true and falr
vlew, and foT suth Internal ¢oDtrol a5 th¢ trustees dotÉm)Ine Is necessary to engble thè pitparatlon of tlnanclal
Statements that arefree from maierfal mlsstatement, whÈtheT due tofraud orqrrar.
In prepadng the financlal statements, the tiustees are respon51blè for asse551n&the ch8rfty'S abllltyto cgntlnue 85
golnB toncern, dlsclosln& as appllcable, Thltters related to 8oln8 tancern and uslng the golr*8 corKem bas￿ of
•c£ountlno unless the trustee5 elther Intend to Ilquldat• the chailty or ta cease operatlons, or have no ieallstlc
alternatlve butto do $0.
AudltorHeJponslblHtl8s fortho olikn4llhandal ststemeDts
Our oblpctlve5 Jr¢ to obtaln reasoTrable as5uTan¢e about V4hethEr the fln*ncla15totEments as a whole are free
from matedèl mls$tatemen¢ whether dye to fraud or error, attd to Issue an 8udltorfs report that Includes our
oplnlon. Reasonable assurance Is a hlBh level of a$suiance, bui 1$ not a guarantee that 8n oudlt condutt4d In
attordance wlth15A5 IUKI wlll always detect 4 matertal misstatement when Itexlsts. MIs5tstement5 ran )rlse from
fraud or erior and are consldered rnatefvl If, Indlvldually or In th¢ a￿re￿at4*hEY rould reasonably be empetted to
Influence the etonornlt de£lslon$ of u5er5taken on the b8sls of theseffinanci41 statements.
Theextentto whlchour procedures •r¢¢èpableof detertln8 Irre8ularliit4 In¢ludlnE fra￿d Is detalled below..
PaEe 7

The InluMl¢e Foundatlon
Independent Audltorfs Reportto the Members of The Inlu5tlce Foundatlon (conllnued)
Audlt proredurns undertaken In re5pon5t to the potentlal r15ks relatlng to Irre8ulèrltles Iwhl¢h Include fraud and
non-eompll•nte with law$ #nd re8ul•tlonsl compr15od of.. enqultle5 of m4nangfjm¢nl and those ch)rged wlth
gov¢mèn¢e as to whetherthe entlty complles wlth su¢h1gw5 and re8ulatlons,' enqulrleswlth the Same cOn￿rnIng
any actual or potentla1 Iltl8èiluh or c1alrns; Inspectlon of relevant leEal corre5pondeft¢e- revlew of board rnlnute$;
revlewlng tr8nsa¢tlon5 around ihe end of the reportlni perlod.. and the PErformance of anawcal procedures to
Idertlfy u#expo¢tsd movemnts Sn accoont balances whkh maybe Indltatlve olfraud.
No InstarKes of m•terlal non-compllance were Identlfled. Howevor, tho Ilk¢lthood ol detettln8 IrreEularllles
Includlnl fraud. Is Ilmlted by the Inherent dlfficulty th detectlng Irre8ularftles, the effedlvETltss of the entlty'5
contro15, Bnd the na¢urtr, tlmthg 8nd extent of the #udlt procedures pprformed. ltregula￿lIo$ that result from fraud
mlght be InherÈnt1y more dlfflculr io detect Irre8ul8lrltes thot Te5ult from erior. As eKpl4lned •bove, thtre
an unavoldable rlsk that materlal mlsstatem¢nts may not bv detert¢d, even tho¥gh the audlt h85 been planned
and performed In attordance ISAS IUKI.
A fvrther de5crlptlon of our respoThslbllltles Is avallAbl¢ on ihe FlTrancSal fteportlnB Coundl's webslte at..
vm.fr¢,or&uklaudltoisresponslbllltles. Thls destrlptlon foims Part olouraudllovs report.
UsÈof ourreport
Th1$ report Is made Sole￿ to the tharlty Inlstees, as a body, In arcordance wlih sectlon 144 of the Charlll•s Act
2011 and re8ulatlon5 made under SECth)n 154 of that Act. Our aydli woik has been undertaken so that we mlBht
state to the trustees those matter5 we are te4ulred to stste to trustees In an audltors, report and for no otheT
purpose. Yo the fullest Extent pem)Itted by law, we do not acrept tsr aSS¢Nne responslbllty to anyone othEr thaA
the tharftyand ltstru5tet5 4$ o bpdy, forou¥audltwork. foTthi5 repprt orlor the oplnlons we ha¥eformed.
m Sulllvan FCA ISenlorStatutoryAudltorl
For arÈd on behalf of Fleld Sulllvan Umlted. SlatutoryAudthr
9 Hare & Blllet Ro8d
Bl8ckheath
SE3 OR8
Fltrld 5ulllvan Umlted Is ell4lble for appolntmeDt as audltor ofthe charlty byvlrttsB of Jts ol*lbS11ty for•ppolThtmeDt
as èvdltor of a compaDy under sectlDn 1212 of the Companles Art 2CIJ6.
Pa8e8

Yhqlnlty#t¢• Fr￿ndatIon
Statsmentof F[na￿lI1 ArtMtl4slortheYe*End8d31March 2025
Totsl
T•tsl
IQ24
UThMstd<ted
REStrf#4d
Into￿1￿d
157
12411QO
57
171350
1nve511rten1iD￿rn￿
Toiilhccme
ImlM9
b￿labl*￿t￿RIeS
TolilEipendiiur•
17,e16
129
694
Netmtswrninlkn fvn¢s
t073,273
46.017
L11*3
(513441
iuoooi
1613141
TDts51unthbMuxhtforwartS
s.o
45.$42
91,886
107J86
TDiaifundsurtkdfor*Jard
51.021
I￿t￿￿1￿1￿￿￿IIIe5d￿￿VÈIraM(rntlnvIOÈ0p￿r1*10D*éuthIt￿ab0Vptt¥D0rk￿5.
lundibreikdownforlOZ415th￿nlnnoI113.
r￿te$Or$FIlWl2t￿lItr￿MlnlnM•11pIrtO1thIstt￿￿an￿1ls11t1fftlnts.
P4￿9

The Inlustlce Foundatlon
(Roglstratlon number: 11419531
Balance Sheet as at 31 March 2025
2025
2024
Note
yrrentasset5
Debtor5
Cash at b3nk and In hand
io
242,560
927.082
li
46,436
1,169.642
46.436
CrEditor5: Amount5 falllnE d¥e wlthln oneyear
12
14,8001
1894
Net assets
1.164.842
45,542
Fundsef thE ¢harlty:
Restrlrted Income funds
Residcted fund5
51,027
Unl￿trItted In¢Drnt funds
Unre5trlcted funds
1.113.815
40,542
Yolal
13
1,164,842
45,542
The financ131 stateTnÈnts on pa8es 9 to 18 were approved by the trusitES. and auihorlsed for15sue on 22 Moy202S
and slgned on their behalf by..
Lord (Jonathan Patrlckl Moynlh2n of Chelsea OBE
Trustee
The notes on pages J2 to 18 form ars Inte8ral partof thesè frnartcial staiements.
Pazc 10

The Inlusike Foundatlon
Ca¥h Flowstatement foy the Year Ended ai Marth 2025
2015
C¥h flow5from operotlng actlvttles
Net ¢a$h IncomgllexpendStUfel
Adjurtments to ¢ashllowsfr•mnon4•sh Itemi
Investmeni Incorne
1.119,300
1613441
5,5891
1,113.711
1613441
Worklngtapltal ¥dJustmeftts
Ilncreasemdetrease Indebtors
Inerea5E In tredltors
io
12
1242,S601
3,906
1,400
36
WetCa5h flow5 from operatlng$dfvltle5
875,057
160,9081
Ca5hftow$ from Inv4stlnB4¢¢MtIts
Interes1 recelvabl¢ and 51mllar Incom¢
5,589
NetlDcreaselldecre95el In cash and ¢ish equlv¥l¢nts
Cash arld rash equlYale*ts at l Apdl
Cash and Cash ewlvalents at31 March
880,646
161L9D81
46,436
107,344
927,082
All of the cashflows are dprfved from tontlnuln8operhtlons durlnKtht above twtr perfods.
The notes on page$ 12 to 18 lorm an Iniegral part of thesefinandal st*qmwts.
pwll

The Injust1￿ F(bundatloD
Nole$ to the Flnandal 5tatementsforth• Year Ended 31 March Z025
I Chwrftyststlis
The¢ho￿ty15 domldkd In EnRlJnd and Wal¢s.
The address of its reg15tered offlce Is..
41 Chelsea Sqthare
SW3 61H
2 ArcotthilhB p¢lklèB
S￿1￿￿e￿I ol¢•mpllpnce
Thè finan£lal statements hwe been prepared In actordance I￿th ActountlnE and Reportlng by cha￿tTe$.,
St•tement of REcommÈAded PRcilce appllc•ble to charltles preparlTh8 thelr accounts In acrDrdance wlth the
Flnantlal ReportlnE stsndard applicabk In the UK and RÈpubllc of Ireland IFR5 1021 lelfectlv* l J8nu8ry 20191-
Icharltles 50HP IFRS 1021 Second edkloTr October 20191. the Flnantlal Reportlng Stsndard appllcable In the VK
and Republlc vllreland IFRS 1021. Theyal$ocomply wlth the CompwnlES Act 2006and CharltltsAct 2011.
8&slsof weparallo#
The Inlu5tlce Foundatlon meets the dellnltlon of a pybllc benefit entlty under FAS 102. The attount5 ItTnan¢lal
statements) have bEEn prepared under the hi5totlcal cost tonventlon wlth ttems re¢ogn15Ed at C05t aiiransactlon
value uttless otherwlse stated In the relevant rwtelsl to the5¢ attounts.
fjolnB CDttcÈrn
Thq tr￿stee$ con51der that thore are no mattrkl uncertalntles about the charnys ablllty to coThtlnue A¥ a i01Tr8
concern,
Judgements and keysourtts Df esllmatlon uncertalnty
In thè appllcatloTr olthÈ charlvs aCCQUnilngpollcles, the tnJ$teÈs are requlred lo mkelud8ements, Èstlmates and
55umptlons about thR carrySDg amount Df auets and Ilabllltles thèt are not readlly app4rent from other sources.
The e5tlmate5 and a550clat*d a55umptlons aTe bèied on hlstOTical e%pÈrfence and other factOTS that ar¢
tonsldered to be relevant. Actuol results maydlfferfromthese Èstlmètek
The esiimates ènd vndeTlyln8 assumptlons #re Yevlewed on an ot)805nK basls. RevSskJTr5 to accountln8 estlmates
8re recognlsed In the perlods In whl¢h the estimète Is revI5ed where f￿$10￿5 affects only that per10￿ or In tht
pertod of the revlslon and luture pethds wherethe revl%lans affects bothcurikntand future perlods.
Incom•ond endowmgnts
Voluntary Inwme IncludlnB dDnatlonsJ 8lfts, leEacles ènd erant5 that provlde core fundlng or are of a 8enefal
nature Is recoKnlsÈd when the chaTity has entltlement io the thcome, It Is Probable that the Income wlll be
rerefved and the amwnt e4n be measured wlth suffldert relablllty.
Pa8e 12

The Inlustk• Faundatlon
Notegto the Flnanclal 5tstemgThts fortheyear ended 31 March 2025 Icontlnuedl
Danatlon5 and le8ade$ are rercgnlsed on è recolvable basls when rerelpt 15 probthe and the amount ¢an be
rellablym¢•sured.
Inveséfflenthromv
Interert Is reco8n15ed orKelt ha5 be4n declared and notitkotlcffj has been received Of the knterest due.
Expendltu
All expendlture 15 retoinlsed once ¢hÈre Is a legg1 or constni¢iiYe obllgètlon to thai expendlture, It 15 probable
sett5ement Is rqqulr¢d and the arnount can be mea5uied rellably. All costs are allocated to the ippllcable
Èxpendlture headlng th•t aiuegate slmllar costs to thot ¢ate80ry. Where costs cannot be dlfektly attrlbuted to
p4rtlcular he3dlnE5 they have been allotated on a basls conslstent wlth the vs* af resources, wlth certral staff
Costs allucated on the ba$ls of tlme spent, anLI depredatlon rharies allocated on the portloA of the a4eV$ use.
other support rosts arÈ avocited based on the5pread of stsff ¢osts.
Cfvérft•bleocllvltles
Char1table expendlture comprlses thosecosts Inrurred bythe charfty Inihe dellveryof It5artMtles and 5ervl¢ts for
Its bEneftclarfe5. It In¢ludes both costs thatt•Th be allocated dlrectly t05uch acllvltles andthDse rosts cf an Indlrert
nature neces5arytO supponthem.
6mntprovlslons
Provlsk+nS for 8rant5 are made when the Intentlon to make a grnnt ha5 be*D communlc&led to the r8clplBnt but
there Is uncertalnty aboulehher thetlmlng of thegrant orth¢ èmount ot8i•ni payable.
Support cort5
Support CD5ts In¢lude ¢8Thtral funcllon5 ar%d h4¥e been illocated io actfvlty ¢ost cètegortes on a bas15 cons15tert
wlth the use of vesources, for erample, allocatlTrg property costs by floor arnas, or par caplts. staff tosts by the
Ilme spent8nd othercosts by tholr usage.
Taxallom
The eharltyls rvnsldered to pass the tests set out In Para8r4ph I Schedul4 6 of the FlnaDce Act 2010 and iherefoie
it meet5 the dtfinltlon of • charltable tompany for UK orporatlon t•x purp05e& Attordlngly, thE tharlty Is
pDt¢Trtlally exempt from taxatlon In re5pert of Income or capltal ealns Yecel¥ed wlthln tateuo¥1È5 covered bv
Chapter 3 Part 11 of thE Corporatlon Tè% Act 2010 gr 5¢ctlon 256 of theT￿atIOTr of Chèrgeabl¢ fjalns Act 1992. to
theextentth•t s￿h Income orBalns¥e applled exduslvely to charll4ble purposes,
Cash •nd ￿￿eqUI￿1¢￿ts
Cash and cash equlvatents comprlse cash on ha￿d and call depv$its, and othershort-terni hlghly Ilquld Investments
th¥tare re3d51y¢onveF￿bIe w a known amount ol cash and are 5ubJerttoan In$lgnlficant rlskof change ID value.
Pa8e 13

The Inlu5tlce Foundatlon
Notesto the Flnanclal Stat•fflentstorthgYear Ended 31 March 20251contlnued)
BtsTrnwlnR5
Intereit-beafing borrowln8$ are Inltlalty recorded at falr value, net of tran53Ctl¢m ￿$ts, Intere5t-bearl
borrowlnE$ ai¢ subsequentty ¢¥rrled at amort15ed tosL v4tth the dlfference between the proceeds, nEt (If
Iransactlon co5￿ and the arnouni due on tedemptlon bdne ￿￿O<￿￿ed a$ • char4e to the StalornQnt of Flnanclal
Adlvlties overthe peilod ofthe relovant borrowln&
Interest eMpen5e15 fero8nlsed on the bas1$ oftheeffectlvè Int*rw method and Is Included In Interest poyable aThd
sknllar charges.
Borrowlnls are cla551fitd as ¢urr¢nt Ilabllhle$ unless the ch3T5ty las an uncondlttonal rliht to defer settlement of
the Ilabiiityfor ot least monthsafter the reportln8 date.
FU￿
Unrestrlrted Income fund5 are 8enernl funds that are 4vaIlab￿ for use at the trustees dlxretlor5 In furthÈrante of
the oblertlves of the charlty.
RestrT¢ied Incc4ne funds arÈ tho$e donated for use In a partlcular area orfor Speclfic purpose¥ the use ofwhlch Is
restrirted tothataTeo orpurpose.
I I1￿•M¢frOM donldvnsand leB3cEe6
tlnrestrl¢ted
funds
G￿eral
R•strfrted
I¥Dd5
Totlll
2025
Total
2024
Donatlons and legacle5,'
Dtsnatlons from comparble$.tr¥sts
hnd 51mllar proceeds
Don4t10Tr5 from Ind4vldua15
Glftald reclaSmpd
L08S.500
1,085,500
157,600
58,(M)O
115,000
16501
157,SDJ
1,085,500
157,60D
1,243,100
172,350
4 Irhvestmentln¢ome
Unl£s￿ded
ltsnds
Totbl
2025
Intsrest recelvable and 51mflaT ltttomÈ;
Intere5tretelvable on bank depDsIts
S,589
5,589
Pa8e 14

The Inlustke Foundatlon
Notes tts the Flnanclal 5tatementsfor th¢ Year Ended 31 March 2025 {con￿nued1
5 Expeth¢urtt•n<hirftablB ottlvltle5
Unre5trkn•d
funds
6eTreral
Restrfrted
funds
Yotsl
1025
Total
2Q24
Le8al and professlon71
Bonkthary5
Grantftsndlni ot
¥olvltle5
SupportC05tS
2,915
1915
loo
io,ooi
4￿00
IIL573
121.574
4.800
233,800
B94
17
IIL573
23
129.3Bg ￿694
6 Anitysl$ ofsupport<osis
SupPDrt￿sI$
Tol•l
2024
2025
Audlr fee5
Audltof iheflnanclal statements
Independent examlnalloh
4AOQ
894
4.800
894
7 Trystresremunorntlon andwen￿l
No trustees. nor any persons cahne¢ted wlth them, have rece￿ iny remunqr4tlon from the thlrlty durlni tho
vear.
Notrustees hive recelved any relmbursed expenses orarbyotherbenefftsfromthe charitydyrlngthey¢•r.
8 Audl¢ow5'TemuDeratlo
2025
Audit oftheflnancfjal statemipts
PaEe 15

The Injust1￿ Foundatlon
Notes to the Flnan¢lal Ststsments forthe Year Ended 31 March 2025 (contlnuedl
9 T4x•it
Thochavlty Is a ro8151eTed charltyand Is thereforeexempt frgmt4xitltyn.
10 Debtors
2025
Prepèym¢nts
242,560
11 Cash and ¢ash equI￿l￿nts
2025
2024
Cash atbank
927,082
46.436
11 Credltors: ImouTrtsfvllln8due wlthlnoneyear
2025
A¢crual$
4000
13 Fuhtd$
Oalanfe at I
Aprfl 2024
InromlnK
resoiirceB
Reso¥r¢es
eKpended
Dalanceat31
M41¢h 2025
Unie8trl¢tsdtund$
Generol
GenEral Funds
0,542
1,091,089
117.8151
1,113,816
Restr1(led funds
Free SpÈech Unltyi
5,QOO
157.6eO
1111.573
51.027
Totolfvnds
45,542
1.248.689
129.588
1,164,843
Poze 16

The Inlustlce Foundatlon
Notes tolhe Flnandol Stjtements forthe Year Ended 31 MaT¢h 2025 l¢ontlnu•d)
Balan¢e at I
ApwN 201J
IbKomln8
resour¢
Resources
expended
Balincealjl
Mareh2024
Unlqstrlcltdfunds
Gefternl
General Fund5
91M86
57,350
IIOB.6941
40,542
Roslrfrted fvnds
Freespetth Unlo
I6￿
115,COO
1126 000
5.000
T0tslfvr￿1
107,886
172,350
1234 694
45,542
The spedfic purp05esforwNch the luftdsare to be appllvd are3sfollows-.
Free Speech Unlon.funds lor'Free5peech Unlon,
14 Analysk ofmeta55¥ts b¢￿e￿I￿nd>
U*vestilcled
funds
eneral
Total l￿d$at
31 Mirch
202S
Rejtrlcted
fimds
CurrentasseE5
I,11B￿lS
14,8001
55027
1,169,642
14,8ODI
Current Ilabllmes
Totsl neta559ts
1,113.B15
1,164,842
Unre5twlclBd
fvnds
General
Total fund$at
M4rth
2024
Rertrltted
funds
Current a55ets
rrent nabllltle5
4L436
5.000
46A36
18941
rotal net ass•ts
40y2
5,000
45.542
Ptyge 17

The Injust1￿ Foundatlon
Note5 tothe Flnanclal Ststem*nts forthe Year Ended 31 March 2025 {contlnued)
15 Related partytranswetlonB
Durlngthe yearthe ¢harlty m)deth¢ followlngrelated P8Tty tTr115actlon$:
Lord￿￿￿￿
ITru5tee OfthechBr￿j
The charfty recelved a donatlon of £nÈl12024.. £10,000) from Lord Vlnson. a formerTrustee of the charlty, Bnd also
a Trustee ofThe Nlgel Vlnson ChBrftable Trust.At the balance sheei date the amountduetolfrom Lord Vln50n wa5
£NII12024. ENIII.
Lord Mtyynlhin ol Chel$o0
ITrustet oflhechirityl
The charfty recelved z dMatioTh of £nll12024.. £3.1)001 from Lord Moynlhan of Chelsea. At the balBnce Sheet date
theamountduatolfrom Lord Moynlhonof Ch815ea was £NII12024- £NIII.
Moynltrust
The charlty retelved è donatlon of £10,000 12024: £20,000) from IAtsynilru5i a charfty that Lord Moynlh8n of
CheL%ea 15 thalrman of and Lord Elllott Df Mk￿¢ Fell Is a Trustee of. At ihe balance sheet date the amount du?
tolfrom Moynltrust £NII12024- £NIII.
Page 18