Parabola Foundation
(A charitable company limited by guarantee)
Trustees, Report and Financial Statements
For the year ended 31 March 2024
Charity number: 1156008
Company number: 08812870

Parabola Foundation
Report of the Trustees for the year ended 31st March 2024
The Trustees are pleased to pTesenl their report together with the financial slalements for the thaiitable
company for the year ended 31 March 2024. The financial statements have been p￿Pared in accordancg
wilh the aecounling policies sel out on page 9 and 10 of the financial statemènts and comply with their
Afb'cles ofAssocialion. the CharitEs Act 2011. the Companies Act2006 and the requirements ofAccounting
and Reporting by Charities Slalemenl of Recommended Pract￿e. applicab￿ to charities preparing Iheii
accounts in accord2nce with the financ￿1 ieporb.ng standard applicable in the UK IFRS1021.
Reference and administrative detsils
Charity number
11￿006
Company wgistfalion number
08812870
Principal office and principal
pla￿ of business
Level 4 Dashwood House
69 Old Broad Slreel
Lond¢)n
EC2M 1QS
Trustees
Peter John Millican {Chair)
Anne Deborah Millican
Deborah Jude
Independent examiner
Moore Kingston Smith LLP
61h FlrKJr
9 ApFKtrld Streel
LorKlon
EC2A 2AP
Dlroctors
The directors of the chaiilable company Ilhe charity) are its Trustees for the purpose of charity law. The
Trustees and officers serving during the year and since the year end are listed above.
The company has M￿1? qualifying third party indemnty provisions for the benefit of its directors during th8
year. These piovi5ions remain in foice at the reporting date.
Structure, governance and management
Governing Document
Parabola Foundation is a company limiled by guarantee govemed by ils Memorandum and Arlictes or
Association dated 12 December 2013. 11 is registered as a char(ty with the Charity Commission.
Organisation Structure
The charity has a minimum of three Trustees. Accounting supP￿t is provided by Parabola Real Eslale
Investmenl Management LLP as a charitable donation. Each board member agreès to contribute an amount
not exceeding £1 in the event of the charitable company winding up_
Trustee Raeruitment and Training
New Trustees are appointed by Peter John Milli(an and the existing Iruslees and are chosen based on
skills they have lo offer lo ensure Ihe development of the charity's activities. Training is made available lo
the liustees when it is requi￿d.

Parabola Foundation
Report of the Trustees for the year ended 31st March 2024 (contlnued)
Rèlatéd parties
Peter John Millican, chair of the Board of Trustees. who as an indTvidual arld as the (Jirector of Parabola
Eslale Holdings Limited. Parabola Management Limited, and Parabola Princes Street Limited has donated
to the chaiity during the year. Peter John MillKan is also a director of Kings Place MUS￿ Foundation and
Ruwenzori Sculpture Foundation who received donabons fcom the charity during the year. Further details
ol transactions with related parties are gNen in note 10 to the financial stalemenls.
Objectives and activities
The objectives of the charity are to further charitable and Gultural projects that will bring benefit lo the public.
11 has beèn particularly keen to support rnUS￿ and the arts in a way that benefits the community. The charity
carefully evaluates 811 applications for funds based on mertt.
Publlc Benefll
Th8 Trustees have referred to the guKJance contained in the Charity Commission's general guidance on
the publiG benefit when reviewing its aims and obiectwes and in pLgnning ils future support.
strategic Report
Achievements and perfomiance
During the period the charity supported King Place Music Foundation. Ruwenzori, Hexham Book Festival,
Hear Out MUS￿ (Music from ImmNJralion Delentionl and Aurora Orchestra. The charity measures ils
success by the gwd Ihal it has achieved over the year.
Financial Review
Operations in the per￿d res￿￿ed in a surplus of £99,466 {2023'. £73.254 surplus) representing the excess
of income over expenditure. The charty rece￿ed income donations during the year of £936.200 (2023..
£420.000} and grft aid on these donat￿n$ of £19,050 {2023". £93,750).
Nel liabilities have decieased from £724,664 in 2023 to £625,198 In 2024 as a result of a surplus in the
per￿d. Cash al bank has increased to £42.844 as al 31 Marth 2024 {2023.' £29,52618nd, commitments
are in plaee for accounts payable over the next 3 years. Further details on the going concern of the charity
are gNen in the accounting pOI￿leS.
Reserves Pollcy
Tha Trusteès, policy is to hold Circa 12 months, income as reserves. Cash at bank al the reporting date
and reasonable projected resources are SUff￿lent to cover current liabilities for 12 rnonlhs. There was a
defKil al the end of the period of £625,198 (2023- £724.664 deficill. The common director of the Parabola
group of companies, Peter John Millican. intends to donale from Ihe ParaboLq group in the coming years lo
meet the obligations of future donation5. The trustees iegard this lo be adequate to SUPPDrt the chaiitable
company's year ené deficit and future oblb3ations.

Parabola Foiindation
Report of the Trustees for the year ended 31st March 2024 (continued)
Going Concern
The Trustees are satisfied that the organisation Is able to operate for the foreseeable future on the basis of
known and reasonable projected levels of income and therefore Ihe going concern basis of accounting is
appropriate.
Risk management
The Iruslees have examined the major slr3tegi¢ business and operation81 risks that the charity faces lo
ensure that systems are in place to monitor them. The piincipal risk thal the charity fa￿5 is the commercial
success of the Parabola donor enlilies.
Plans for Future Periods
The charity aims lo continue lo support pr￿ects that bring benefit lo the wider public.
Trustees, Responsibilities
The Iruslees (who are also direelois of Parabola Foundalion for the purposes of wmpany lawl are
responsible for preparino the Trustees, Annual Report and the financial stalemenls in accordance with
applicable law and Uniled ￿"ngdoM Accounting Slandards (Unrted Kingdom Generally A¢cepled
Accounting Praclicel.
Company law requires the trustees lo prepare financial slalements for each financial year. which give 3
true and fair view ol Ihe slate of affairs of the charitable company and the incoming resources and
application of resources, including the income and expendiluie of Ihe charitable company for that period.
In preparing those financial slatemenls, the Iruslees ace required to..
select suitable accounting policies and then appty Ihem consistently",
observe the rnelhoLls and principles in the Charities SORP",
make judgements and eslimales that are reasonab￿ and prudent.,
state whether applicable accounting standards and slalemenls of recommended practice have
been followed subjecl lo any departures disclosed and explained in the financial slalemenls., and
prepare Ihe financial stslements on Ihe going con￿rn basis unless rt is inappropriate to presume
that the charitable company will continue in business.
The trustees are responsible for keeping proper a￿unlIng records, which disclose with reasonable
accuracy at any lime the financial position of Ihe charitable company and lo enable them to ensure that the
financial slalements comply with the Companies Act 20(￿. They are also iesponsible for safeguarding the
assets of the charitable company and hen￿ for taking reasonable steps for the prevention and detection
of fraud and other irregularities.
Independent Examlner
Moore Kingston Smith LLP were appointed as Independent Examiner for the year ended 31 March 2024.
Approv
lees on 1 August 2024 and signed on their behalf by..
rJM
lican
Trus

Parabola Foundation
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PARABOLA FOUNDATION
I report to the Ghafity trustees on rny examination of the accounts of the Company for the year ended 31
March 2024.
Rè8ponslbiliti¢s and basls ¢f r*port
As the charity's trustees (and also its directors for the wfposes of company lawl you are responsible for
the preparation of the accounts in accordance with the requirements of the Companies Act 20061"Ihe
2006 Act")
Having salisfyed myself that the accounts of the Company a￿ not required to be audiled under Part 16 01
the 2006 Ael and are eligible for independent examinat￿n. I report in respect of my examination of your
charity's accounts as carried out under section 145 of the Charilies Act 2011 I'lhe 2011 ACV'I. In carrying
out my examination I have followed the DirectKJns gwen by the Charity Commission under section 14515
(bl ol the 2011 Act.
Independent Examiner's Statement
Since the Company's gross income ex￿eded £250.000 your examiner must be a member of a body
listed in section 145 of th8 2011 Act. I confirm that l am qualifEd io undertake the examination because I
am a member of the ICAEWwhiL* is one of the listed tx)dies.
I have completed my examinalion. I confirm that no matters have come to my allention in connection with
the examination giving rne cause lo believe..
accounting recoids weie not kept in respect of the Company as required by section 386 of the
2006 Act., or
2. the accounts do not accord ￿th those records., or
3. the accounts do not compty with the accounting requirements of seclK)n 396 of the 2006 Act other
Ihan any requirement that the a￿UnIS give a true and fair which is not a rnattèr considered
as part of an independent examination., or
4. the accounts have not been prepared in a￿rdance wf(h Ihe method5 and principles of the
Statement of Recommended Practice for accounting and repor￿"n9 by charities.
I have no concerns and have come across no other matters in connection wrth the examination to whieh
attention should be drawn in ihis report in order to enable a proper understanding of the accounts lo be
reached.
Adam Fullerton
IFC& DChA}
For and behalf of Moore Kingston Smith LLP
Chartered Accounlanls
6th Floor
9 Appold Street
London
EC2A 2AP
Dalg. 2 August 2024

Parabola Foundation
ststement of Financial Activities (incorporating income and expenditure account)
for the year ended 31 March 2024
Total
Unrestricted
Fund8
Y•or ended 31
March 2024
Tolal
Unrestrieled
Funds
Year ended 31
March 2023
Income from:
Donations and legacies
Interest and Investments
955.735
731
513.750
271
Total incomo
956.466
514.021
Expenditure on..
Charitable activities:
Support other charitable objectives lo benefit the
wider public
{857.0001
1440.7671
Total ex
enditure
857.000
440,767
Net movement in funds
99.466
73,254
Reconclliation of funds
Total deficit brou
ht Iorward
724.664
797.918
Total deficit carried forward
625.198
724.664
All incoming resoijrces and resources expended are deriv￿1 from continuing actTvilies.
The slalemenl of financial acb"vrties includes all gains and losses recogni8ed in the year.
The notes on pages 9 to 1 S fom part of these financial st?tements

Parabola Foundation
Company Number: 08812870
Balance Sheet at 31 Mar¢h 2024
Unrestricted
funds
2024
Unreslricled
funds
2023
Note
Current assets
Cash al bank
Debtors
42.844
29,526
93,750
123.276
42,844
Liabilities
Creditors amounts falling due within
one year
1173.042)
1182,9401
1173.042)
1182,9401
Net current (liabilities)l assets
1130,198}
{59,664}
Creditors - amounts falling due in
more than one year
1495,000}
1665,0001
Net liabilities
625.198
724,664
The fund8 of the charity
Unrestricled
deficit
funds
625.198
724.664
Total charity Idgficitl funds
1625.198)
1724.664}
For the year ending 31 Maf¢h 2024 the company was enlilled lo exemption from audi( under Section 477
of the Companies Act 2006 relating lo small companies.
The members have not required the company to obtain an audit of ils accounts for Ihe year in question in
accordance with sedion 476.
The directors acknowledge their responsibilities for complying with the requ1￿mentS of the Act with respect
lo accounting records and the preparation of accounts. These accounts have been wepared in accordance
with the provisions applicable lo companies suiy.ect lo the small companies, regime.
The financi
I sialemenls on pages 6 10 1 S were approved by the Board of Trustees on 1 August 2024 and
were sign
doni
behalf by..
Tr

Parabola Foiindation
Statement of Cash Flows for the year ended 31 March 2024
2024
2023
Note
Cash flows Irom operating actlvilies:
Cash generated from ope¥alions
12.587
1175,7671
Net cash
rovided b I
used In
erations
175,767
Cash flows from financing actlvitigs:
Interest received
731
271
Nat cash
rovided by financlng a¢tlYlti¢s
731
271
Increase l{Decreasel in cash and cash
equivalents In the year
13,318
1175,4961
Cash and Gash equivalents al the siart of the
ear
29,52S
205,022
Cash and cash equivalents at the and ofthe
ear
42.844
29.528
Relating to..
Cash al b8nk
42,844
42,844
29.526
29.526
Total cash and cash equivalents

Parabola Foundation
Notes to the financial statements for the year ended 31 March 2024
Accountlng pollcles
Basis of prèparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities..
Sialemenl of Recommended Practice applicable lo charilEs preparing their accounts in accordance with
the Financial Reporting Standard appI￿able in Ihe UK {FRS 1021- Charities SORP IFRS 102}, the
Financial Reporting Stsndaid applicable in the UK IFRS 102) and the Companies Act 20L￿.
Parabola Foundation is a Charilabk Company limrted by GuaTrntee, registered in England. The address
of the Charity s registered Offi￿ and principal place of business is Level 4. Dashwood House. 69 Old
Broad Street, Lornlon, EC2M 1QS. The charity meets the definition of public benefit enlity under FRS
102.
Assets and liabilities are inilialty recognised at hisloital cost of transaction value unless olheNise slated
in the relevant accounting policy note.
The financial statemenls are presented in sterling which is also the tunclional currency of the charitable
eompany-
Monetary amounls In those stalemenls are rounded lo the nearest £ except where otherwise indicated.
Going concem
Financial Reporting Standaid 102 requires. rf apptopriate, that Ihe chafty's finaneial stslemenls are
prepared on the going concern basis. which means that the charity is able lo operatè for the foreseèable
future on the basis of known and reasonatye projected resources. The enlily is in a deficit position at the
year ended 31 March 2024, however il has eonfrrmed supportfrom Peter Millican and Ihe Parabola Group
for a period of at least one year fr￿n Ihe approval of these financial statements lo cover non-current
liabilities and budgeted future expenditure. As a resutt the going concern basis of 8ccounling is
appropriate.
Ineoming resources
Income is reeogni%ed in the period in which Ihe charilable company has entillemenl lo the funds, any
wndilions attached lo the income have trttn met, it is probable that the income will be re￿iVed and the
amount can be measured reliabty.
DOnat￿n income
Donation InC￿e includes grfls and donations and any tax that can be rectaimed on amounts received
under gfft aid. Donation income is ineluded in the state￿nI of Financial Activities when receivable.
Inlerest receivabl
Interest on funds held on deposit is included when receivable and the amount can ￿ measured r&liably
by the charity., this is nom81ty uwn noliltsb.on of the interest paid or payable by the bank.
Resources èxpended
Expenéiture is all considered as expenditure on charitable activit￿5. Expenditure is recognised once
there is a legal or constructive oblwjation lo make a payment to a third paty, il is probable that settlement
will be required and the amount ol the obligation can be measured reliably.
Resoufces expended are included in the Statement of Financial Activit￿5 on an accruals basis. inclusive
of VAT.

Parabola Foiindation
Notes to the financial statements for the year ended 31 March 2024
Accounting policies (continued)
Expenditure on charitable activities including grants payabl
Grants payable ale recognised when an uncondrtional offer has b￿n made by the Foundation. Granls
Offer￿ which ?re subject to conditions are recognised when the trustees have reason lo believe that
the conditions have been met. Where Ihe trustees approve a gr8nl thal is payable in inslalmenis over a
period ol a number of years without Specif￿ conditions attached. the total amoijnl of that grant IS
charged in the accounts during the year of approval.
Fund accounting
General funds are unrestricted funds which are available for use al the discretion of the truslees in
furlherants of the general objecbves of the charity and which have not been designated for other
purposes.
Flnancial instwments
The charity has elected lo appty the provi%ions of SeclFon 11 "Basic Financial Instruments" and SeCt￿n
12 "Other Finan￿al Instruments Issues- of FRS 102. in fvll to all ol ils financial inslruments.
Al ol the charity's financial assets and financial liabilities qualify as basic fi'nancial inslnjmenls. Basic
rinancial instruments a￿ Inilially recognised al transacli)n value and subsequently measured at Iheir
selllement value_
Cash at bank and in hand
Cash at bank and cash in hand includes cash held at bank and cash in hand.
Debtors
Debtors include amount owed to the charity for gift aid on donakn.ons and measured al their recoverable
amount.
Crèditor8
Creditors are recognised where the charity has a present obligation resulling from a past event that will
probably result in the transfer of all funds to a third party and Ihe amount due lo setlle the obligation can
be measured or eslimalèd reliably. Credrtors are normally reeognised al their settlement amount
10

Parabola Foundation
Notes to the financial statements for the year ended 31 March 2024
1. Income
Donations and Le9aaes
Tot81
Unre8trlctèd
Fund$
Yearended 31
March 2024
Total
Unreslricled
Funds
Year ended 31
March 2023
Donations
Gift AKI on donations
Interest on Gift Aid
936,200
19.050
420,000
93,750
955,735
513.750
Investment Income
Total
Unrestri¢tod
Funds
Yearended 31
March 2024
Total
Unrestricted
Funcls
Year &nded 31
March 2023
Bank interest receivable
731
271
2. Expendlture on charitable actlvities
Total
Unrestricted
Funds
Year ended 31
March 2024
Total
Unreslricled
Funds
Year ended 31
March 2023
Governance costs
Marketing
Donations
3,600
4.247
270
436,250
440.767
853,400
857,000

Parabola Foundation
Notes to the financial statements for the year ended 31 March 2024
2. Expendilure on charltable artivities {continuod)
Governance costs are made up as folk)ws".
Total
Unrestricted
Funds
Yearended 31
March 2024
Total
Unrestricled
Funds
Year ended 31
March 2023
Fees paid lo Independènt Examiner
Le
al 2nd rolessional fee5
3.600
2,760
1,487
4,247
3.600
Donations-.
Total
Unrestricted
Funds
Yearended 31
March 2024
Total
Unr8slricted
Funds
Year ended 31
March 2023
Amounts paid to institutlons:
Creative Arts
Other
843.400
406,OOC)
30,250
436,250
853 400
Institutions:
Kings Place MUS￿ Foundation
Ruwenzori
Poverty Relief Foundation
Other
711.000
36.000
315,000
36,000
20,000
65,250
436,250
106.400
853.400
3. Staff costs, Trustees. remuneration, bonofits and expenses
The company ha$ no empk)yees.
There yvere no trustees, remuner8lion or other benefrts or expenses paid for the year ended 31 March
202412023.. £nil).
4. Debtors
At 31 March
2024
At 31 March
2023
other Debtors
93.750
93,750
12

Parabola Foundation
Notes to the flnancial statements for the year ended 31 March 2024
S. Credltors.. amount8 falling due within one y?ar
At 31 March
2024
At 31 March
2023
Trade payables
Aecruals and deferred income
Accruals for
rants pLa able
10,000
2.940
170.000
182,940
3,042
170,000
173.042
6. Creditors.. amounts falling due In moro than one year
At 31 Mar¢h
2024
At 31 March
2023
Accruals for gr8nls paYa￿e..
Due within 2 - 5
ears
495.000
495,000
655.￿0
665.000
7. Analysls ofcharitsble funds
At 31 March
2024
At 31 March
2023
Unrestrlcted funds
As al 1 St April 2023
Unreslricled funds movement
As al 31st March 2024
1724.664
99,466
625.198
1797,9181
73,254
724,664
Net movement In funds. included in the above are as follows..
In¢omlng
Resources
Resource8
Expended
Movement in
funds
Unrestrlctèd funds
General Fund
Total funds
956.466
956.466
857,000
857.000
99 466
99.466
General funds are held in order lo fvrther the objects of the eharty.
13

Parabola Foiindation
Notes to the financial statements for the year ended 31 March 2024
7. Analysis of Charftsble funds {continued)
Nel Asset by fund
2024
UnrestricteAI funds
Total funds
Net current Iliabililiesl
(130.1981
(130,1981
Lon
term liabilities
495.000
495,000)
62S,198
625,198
2023
Unrestricted funds
Total funds
Nel current liabilities
159.6641
159.664)
Lon
tem liabilities
665,000
865,000
724.664
724.664
8. Finan¢lal instruments
31 March
2024
31 March
2023
Carrylng amount of financial assets
Cash al b8nk
Mèasured al recoverable amount
42.844
29,526
93,750
123,276
42,844
Carylng amount of financial liabilities
Measured al 8mortised cost
668.042
847,940
9. Roconclliation of net movoment in funds to ngt cash from opèrating activitie$
31 Ma￿h
2024
31 March
2D23
Nel movement in funds
Deduct inleresl receivable
Decreasel Ilncreasel in debtors
Decrease
in creditors
Nel cash providedl lusedl by oper*ing
activities
99.466
17311
93,750
179,898
73,254
1271)
193,7501
155.000
175,767
14

Parabola Foundation
Notes lo the financial statements for the year ended 31 March 2024
10. Related party transactions
Peter John Millican. chair of tho Board of Truslees. is 8 dire¢lor of Kings Place Music Foundation and
Ruwenzori Sculpture Foundation who r￿1Ved donations from the charity during the year. The charily
regards these institutions to be related parties.
In addition, Peter John Millican i% a director of Parabola Eslale Holdings Limiled, Parabola Man8gemenl
Limiled and Parabola Princes Streel Limited, who paid donations to the charity during the year. Peter John
Millican also paid donations lo the Charity personalw during the year.
The charity had the following tranwlionslbalances with reLaled parties..
Ruwenzori
Sculpture
Foundatlon
Kings Place Music
Foundation
Povorty Rel￿f
Foundatlon
Parabola Group.
Peter Alillican
2024
2023
2024
2023
2024
2023
21124
2023
2024
2023
Ir￿Ome-
donations
Expenditure
donations
860.000
4s.oIK>
76.200
375.000
36.000
36,000
711.000
315.¢XXI
20.0(KJ
Exp8odilur8
Other
Debtor
balances at
ear en¢Y
CreditDr
balances at
ar end
Parabola Group- Parabola Estate Holdings Limited £295.0(K)12023.' £45,0￿)1." Parabola Management
Limited £555,00012023'. £nil} and Parabola Princes Street Limited £10,000 {2023". £nil}.
11. Legal 8tatus of Charity
The chaiity 15 a company limiled by guarantee and has no share Cal￿101. In the event of the charity being
wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
15

Parabola Foiindation
12. Parabola Foundation Mlnut•s March 2024
Charity Nurnber. I156￿J8
Company Ni1mb￿. 08812870
PARABOLA FOUNDATION I'lha Compaoy-l
Minutes of a meeiifi9 of the ol trustees (the Trustees) of Ihe Cwany by way d rneeling ai Malfen
on 6 March 2024.
Present:
Deboiah All8on Judg IDAJI
IChaSrpersonl
In •ttendan¢o'.
P¢¢frr John Milli¢an IPJP4
Anno Deborah Milll¢•n IADMI
OPENING
IIvrn5 noted prwr ol Ihe ffeeling had l)een given aTrJ that rned￿9 had teen
properly ronvened and thai a quorurnwas present The CIBiiper50n declared Ihe meetsng ￿n.
ol Ihe Trustees (JedarE¥J any inte￿$1$ in proposed business to be discussed al the
meeiing In X¢0fdan￿ ￿th Ine Compan￿5 Acl 20Q6 and Itwas mted thai all Tru51ees were able
lo vtsie ifi reL71kM lo Ihe b&"ThJ disujssed
Follo￿￿n9 the lasl annual Tiu*ees meeb"NJ orn 3 Klay 2023 il was noted M the Trusteès annual
oDard meelirt9 ccntinue tor Ihe lime bwng lo lake in person ai The (Yd V¢8rase. Mallen in
Spnng eèchyear In a0d11￿ 10 Ihe tJ)afd rrttkng maiieis ￿laim9 lo Il* Company we regularty
discussed during Ihe year In particula PJM ar,d DJU tmlinue to Ineel re9uL8rW throvghoul the
year lon oll*r tnatters where Ihey acl a5 Trusiees logetherwith ADPA)and updales are yovHled
ai Ihose meelings In relaiK)n lo Ihe Cowany's plans and aclws whKh bad been undwiaken in
Iniervening per￿$ Nl such rAans and *lions ale aplY￿￿d by ADM.
OBJECTIVES OF THE COMPANY
01 conbnuiw &gnifKant focu$ 10 the Company during Ihe year and as In r￿n1 years h3S been
the fundiNJ lor P*e mu￿ F0vnda￿Th IKPMFI effects oflk* CovxJ-19 re5trKlions
are slill beirKJ ldl partthlarly wilh aUd*￿e Nmbef$ and Ihe ¥af￿uStr•In strike5 arKI tube stiikes
have further effected Tevenue The fruslee5 noted that KPMF is ihe elfecls ofihe
re permanent change5 lor example Ihal audences al certain evenis havè nol relurned in Ihe
same n￿￿er5 The Tfusiees nNed Ibalthere ha(J been ch8rvaes ITh wrrt)er ol Irustee5
and in Ihe makeup cl ihe b02rd al KPUF and Ihal Ihose changes and recwi wruiiments WAI
assisi viilh lund ra￿1￿9 markebng KPMF have 3tsocc•tinued to exerose sifiDgeni rinan¢ial
coThir¢b and bok for cost redu￿1(￿ts whete possil)le whitsl ensunng Ihe otyet1￿e$ of the Chaiily
16

Parabola Foundation
can be mèl. Funding Irw the Company B still requ*ed Regular metbrss continue 10 tse held
vrilh the bo¥d of KPMF an¢J Ihe Iruslee5 and DAI all¢J PJM {who are two of the trU￿etS ol
KPMFI atlend Ihose meets"rvJs PJkl tt*rtlinues ie have regulw conmwth ihe board ol KPMF.
PJM Keep5 DAJ and AOM Inf￿rned. The Twslees there%Jre were salisfied Ihal the ftnarrial
oversighl and accounlabilrty for fund¥)g that Ihe Cowy has IN￿ded its KPMF 1$ be￿9
rnainiained.
The Company ¢￿tinUeS to suFwl Core GUIS Cok>))hryt by way of reoular monthly payments lo
agreed amount. PJM had prevK)U5ty expressed some c￿￿cern about IAe 袢0un￿bIIty I
the lundiro thè Company has pwovide(l and Ihi5 has now been add￿Ssed.
PJM and ADM confirnwi Ihe ¢thtr syants and *offji(Is made by Ihe Company duAr¥J ihe period
April 2023 to March 2024 and il was noted Ihat IhesÈ payments are in line ¥vith the obiectsv05 01
Ihg Company.
The support PiOVKled by the CompaAy wès deemeil lo havè8chieved the 04.￿1￿?&01 Ihe
Company aftd Ihe funds have beeft ub"Ised c(Krectly by Iht ieopients spècific projects PJM
and AOM have dose In¥0￿emen1￿Ith the chaii1iesw￿j recer¢e fvnds and which helps ensure
Ihat thè reci￿"ent charilies ale using Ihe funds for Ihe PUfP)se5 l¢y whth they weie given.
ACCOUNTS
Karen Black IKBI al Pwabola Contin￿ lo prepwe ￿￿thty management aC￿￿niS which afe
seThl to the Trusteès for èpproval whth a¢¢ounls include deiails of all paynwts. re￿ip1S 8fftd
asji ￿0W bearin9 In mind the ￿MM￿n￿￿t5 ol the Company. K8 ts aL80 kèpl advised of
8¢ldilional financial sUPPOIt olleied 10 ¢Thanties in order thai K8 and the vitder Paiabgb team is
aware ol commltmenis and ¢ash ffoyi. The financral supp)n Ktenlif*d for the Coryany Gonlinues
to be provided by personal donai¥)ns Irom PJM Wblh the balance required to meet ils
commilmenls be￿9 provided by one rm ￿re oflhe Paiafjja enlilEs.
KB also filed Acc4wnts wilh the Chafity C0mrnEs￿n and ks io do so. KB Klenlified that
certain ol the Iru51ee5 pol￿e$ shwld be foimal4¥ recor(led ané DAJ agreed to look Inio that
The financial suppty1 idenlrfied lor parttular Chanlie5 by the Trus:ees continues to VOVKJe
5UPPOrt proiecis of L*nefit to Ihe public with part￿VIal interest in mug¢. Ihe arts aro benefilling
local corM)unilies
PLINS FOR THE NEXT YEAR
As deialed above KPMF continues lo require ad¢ilK)nal fundin9. FunL15 for a Rèserves Aecourtt
has also been reqLFiied by KPMF In ordèr io assisi with gr￿1 apFqiGalws where RèseNes are
required 10 te heKI. It iefflains part ol Ihe k)nger ièrm si*iegy ol KPMF lo bewtne financial
Independent of fiJnd5 from Ihe Company The Truslees W￿le the strategy and support it.
17

Parabola Foundation
A5 8 grant making charily the Coryany feceNes a number of appeals for support Irom a large
numbÈr of charities. The Tiuslees have in tyace procedures lo( dealing wilh all such 8ppeals.
Any requests for funding are cevi4Yed al ¢erLiin poinis Ihroughout the year ty PJM and ADM.
Where an applicalion has not been appfoved Ihen a standafd18tler is used lo notify Ihose
applKanls and il is expla￿ed that in ol ihe modest size of Ihe Company and Ihe lacl Ihal the
Tivslees pe(sonally ￿enlIty ¢haritres ihey viould wish lo benefil then those charilies should nol
cijrrenity expecl lo weceive any a(fvance or SUPF*)rt from the Company The Trustees approved
the ¢urrenl arrangemenls and sayi no need for chaThJe.
11 was agreed that OAJ would consKler ￿ h)ng the informatt￿ held by thèsp charilÈes and Ihe
coriespondence wilh them should be relained and on ￿der to comply wilh Dat? Protection
gislalion
CLOSE
There was no further businèss arnd Ihe Chawperson declared ihe meetsng closed.
Chairperson
2024
18