Parabola Foundation (A charitable company limited by guarantee) Trustees, Report and Financial Statements For the year ended 31 March 2025 Charity number: 1156008 Company number: 08812870 Parabola Foundation Report of the Trustses for the year ended 31st March 2025 The Trustees are pleased to present their report together with the financial slalemenis for the charitable company for the year ended 31 March 2025. The finanual statements have been prepared in accordan with the accounting policies sel out on page 9 and 10 of the financial statemonts and comply with their Artides of Ass¢xialion, the Ch8ritiesAcl 2011, the CoMpan￿S Act 2006 and the requirements ofAccounling and Reporting by Charities Slalemenl of Recommended Practice. applKable to charits.es pi8paring Iheir accounts in accordance with the financial reporting standard applrable in the UK {FRS102}. Reference and administratlve details Charity number 1156008 Company registration number 08812870 Principal offtee and principal place of business Level 4 Dashwood House 69 Old Broad Street LorKlon EC2M 1QS Trustees Peter John Milliean (Chairl n8 Deborah mill￿an Deborah Jude Independent examiner core lQngslon Smith LLP 6th Floor 9 Appokl Street London EC2A 2AP Dlrector8 The diieclors of the charitat￿e company (the eharityl are ils 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*le qualifying third party indemnity Provis￿)nS for the benefrt of its directors during the year. These provisions remain in force at the reporting dale. Structure, govemance and management Governing DoGumgnt Parabola Foundation is a company limited by guarantee governed by ils Memorandum anLI Articles of Association dated 12 De￿mber 2013. It ss registered as a charity with the Charity Commission. Organisatlon Structurè The Charity has a minimum of three Trustees. Accounts"ng support is prowded by Parabola Management Lirniled as a charitable donation. Each board mom￿r agrees lo contribute an amount not exeeeding £1 in the event of the charitabl8 company winding up. Trustee Recruitmènt and Tralnlng New Trustees are appointed by Peter John Milliean arKI the existing Trustees and are chosen based on skills they have lo offer lo ensure the development of the charity's activities. Training is made available lo the Trustees when il is required. Parabola Foundation Report of the Trustees for the year gnded 31st March 2025 Icontlnued) Related parties Peter John Millican. chair ol the Board of Trustees, who as an individual and as the director of Parabola Eslate Holdings LimVLed and Parabola Managemenl Limited has donated to the charity during the year. Peter John Millican is also a Trustee of lfjngs Place Music Foundation, Ruwenzori Sculpture Foundation and Povety Relief FOundat￿n who received dOnatt￿$ from the charity durin9 the year. Further delails of transaclions with ￿ I81ed parties are gwen in note 9 to the financial statements. Objectives and activlties The objectives of the charity are to further charrtable and cultural projects that will bring L*nelit lo the public. 11 has been particularfy keen to sUPP(yt music and the arts in a way that benefits the community. The charity carefully evaluates all applications for funds based on merit. Publi¢ BenefSt The Tmslees have relerred to the guidance eonlained in the Charity Commission's general guidance on the public benefit when reviéwing ils aims 8nd ot4'ectives and in planning ils future support. stratèglc Report Achlevements and performance During the year the charity supported Kings Place Music Foundation, Aurora Orchestra, Ruwenzori, Blessed Sacrament Catholic School and Poverty RelEf FoundalK)n. The chariiy also conlinu8d ils support of Guts UK and Sislema. making payments againsl previousty committed donations. The charity measu￿$ ils success by the good that il has achieved over the year. Financial Revlew Operations in the year result￿￿ in a svrplus of £159,351 {2024.. £99,466 surplus) rep￿sentIng the excess of income over expenditure. The charity recewed incorne donations during Ihe year of £428.2CN) 12024- £936.2001 and gift aid on these donat￿nS of E19,05012024-. £19,050). Nel liabilities have decfeased from £625.198 in 2024 to £465,847 in 2025 as a result of 8 surplus in the year. Cash al bank has decreasgj ID £32.315 as al 31 March 202512024.. £42.8441 and, commilmenls are in place for accounts payable over the next 3 y8ars. Further detai15 on the going concern of the charity 8ie given in the aecounting polici8S. Resorvos Policy The Trustees, policy is to hold circa 12 months, in￿)me as reserves. Cash at bank al the rèporting date and reasonable projected r8sources are suffKienl lo cover current liabilities for 12 months. There was a delieit at the e[￿ of the year of £465,847 {2024: £625,198 deficit). The Common director of the Parabola group ol companies, Peter John Millun, intends lo donate from the Parabola group in the coming years lo meet the obligations ol future donations. The Tnjstees regard this to bè ad8quab to support Ihe charitable company's year end deficit and future Obl￿alK)n$. Parabola Foundation Report of the Trustees for the yearended 31st March 2025 {continued) Going Concem The Trustees are satisfied that the organisalion is able to operate for the forese8abl8 fulvre on the basis of known and reasonable projected ￿velS of income and therefore the going concern basis of accounting is appropriate. Risk management The Trustees have examined the major strategic business and operational risks that the charity fa¢es lo ensure that systems are in place lo monitor them. The pnncipal risk that the charity fa￿S is the comm81cial success of the ParaboLq donor enb"ties. Plan$ for Future Perlods The charity aims to continue to support projects that bring benefrt to the wider public. Trustees, Rè$pon¥ibllltles The Trustees (who are also directors of Paratola Foundation for the purposes of company law} are responsible for preparing the Trusle8s' Annual Report and the financial statements in aceordaneè with apPI￿able law and United Kin￿Orn Accounting Standards (United Kingdom G8nèrally Accepted Accounting Pfaclice). Company law requires the Trustees to prepare financial slalemenls for each finanual year, which give a true and fair view of the state of affairs of Ihe charitable company and the incoming resourees and applKation of Te$our￿s, including Ihe income and expendrture of the charitable company for Ihal p@iiod. In prgparing those financial slalements. the Trustees are ￿quired lo.. $decl suitable accounting kx)Iicies and then app￿ them eonsistently.. observe the methods and principles in the Charities SORP- make judgements and estimates that are reasonable and prudent., slate whether applicable accounting sland8rds and statements of recommended practicè have been followed subject lo any departures disck)sed and explained in the financial slaternents", and prepare the finanaal statemenls on the going concern basis unless il is inappropriate lo presume that the chartlable company will continue in business. The Trustees are responsible for keeping pioper accounting re￿rds. which disc105e with reasonable accuracy al any lime the financial posith)n of the charitable wmpany and to enable them lo ensure that the financial statements comply with the Companies Act 20(￿_ They are also responsible for safeguarding the assets of the charitable company and he￿￿ for taking reasonable steps lor the pr8venlion and detection of fraud and other irr￿Ularity&S. Independent Examiner Moore Kingston Smith LLP were appointed as Independent Examiner for the year ended 31 March 2025. Approved e Trust on 14 August 2025 and signed on their behaw by.. Peter Truste Parabola Foundation INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PARABOLA FOUNDATION I rewrt lo the charity trustees on my examinabon of the aecounts of the Company for the year ended 31 March 2025. Responsibllltles and basis of report As ihe charity's Injslees {and also ils direelors for the purposes of company law) you are re&ponsible for tt)e preparation of the accounts in accordance with the requirements of the Compan￿$ Aet 20061"Ihe 2006 Act"). Having satisfied mysew that th8 ￿OUnts of the Company are not required to ￿ audf(ed under Part 16 01 the 2006 Act and are eligible for independent examination. I retx>rt in respect of my 8xamination of your charity's accounts as carried out under section 145 of the Charib'es Ad 2011 C'lhe 2Q)11 Act"). In carrying out my examination I have foll¢)wed the Directions given by Ihe Charity Commission under section 14515} Ibl of the 2011 Act. Independent Examlner's Statement Since the Company's gross income &xc88ded £250.000 your examiner musl be a membgr ol a body listed in section 145 of the 2011 Act. I confirm that l am qUalif￿d to undertake the examination b8cause l am a member of the ICAEWwhich is one of the listed bcKIEs. I have completed my examination. I confimi that no matters have come to my attentN)n in conn8clion with the examinalTr)n giving me caus8 lo belEve'. 8ccounling records were not kept in respect of the Company as required by section 386 ofthe 2006 Act.. or 2. the accounts do not accord with those records., or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts gNe a true and fair vi8w whth is not a maller considered as part of an independent examination; or 4. th8 accounts have nol been prepared in accordance with the methods and principles ol the Siatemènt of Recommended Practi￿ for accounting and reporting by charities. I have no cOn￿r￿S and have come across no other matters in conn8clion with the examination to which attention should be drawn in Ihis report in order to enable a pr(￿eT understanding of the accounts to be reached. ocrt kv0￿ LLP Adam Fulletton IFCA, DChAI For and behalf of Moore Kingston Smith LLP Chartered Accountants 6th Floor 9 Appc)Id Street Lonéon EC2A 2AP Date.. 14 August 2025 Parabola Foundation statement of Flnancial Activities (incorporating income and expenditure account) for the year ended 31 March 2025 Total Uniè8tricted Funds Year ènded 31 March 2025 Total Unreslricled Funds Year ended 31 March 2024 Note Income from: Donations and legacies Inlèfftst and Investments 447,250 390 g55.735 731 Totsl Income 956 466 Expondlturo on: Charitable activities: Support othèr chacitsble objectwes lo benefrt the wider public 1288,2891 1857,0001 Total Ox nditure 288.289 857.000 Nel movement in funds 159.351 99,466 Reconciliation of funds Total doficit brou ht foThiard 625,198 724,664 Total delicit carried fopward 465.847 625.198 All incoming fOSOiI(ces and resource5 expended are derwed from ojntinuing activities. The stalem8nl of financial activities indudes all gains and losses recognised in the year. The notes on pages 9 to 15 form part of these financial statements Parabola Foundation Company Number: 08812870 Balance Sheet at 31 Ma￿h 2025 Unrestricted fund$ 2025 Unrestricted funds 2024 Noto Curr9nt assets Cash at bank 32,315 32.31 S 42,844 42,844 Llabllltles Creditors - amounts falling due wrf(hin one year (173.162) (173,042) {173.1621 1173,042) Nèt current Ilabililies 1140,8471 (130,1981 Creditors- amounts falling due in mor8 than one yeai (325.000} {495,0001 Not liabllltios 465,847 625,198 The funds of the charity Unrestricled deficil funds 625,198 Total charfty dofi¢it funds 1465,847 (625,198} For the year ending 31 March 2025 the company was entiU8d to oxemplion from audit under section 477 of the Companies Act 2006 relating lo small companies. The members have not required the company to oblain an audit of ils accounts for the year in question in ac￿rdance with section 476. The directors acknowledge their responsibilities foT comp￿Ing with Ihe requirements ol the Act with ￿Spect lo accounting records and the p￿parat￿n of ac￿￿nIS. These accounts have been prepared in 8CCOTdanc8 with the provisions applicable lo wmpanies Su￿.eCt to the small companies. regime. The financial statements on pages 6 to 15 were approved by the Board of Trustees on 14 August 2025 and were signed on It5 behalf by- Peter J Millica Trustee Parabola Foundation Statsment of Cash Flows for the year ended 31 March 2025 2025 2024 Notg Cash flows from oporating a¢tiviUes: Cash generated from operations 110,919> 12,587 Net ¢a$h provlded Iu8ed Inygenèrated by rations {10.9191 12,S87 Cash Ilows from financing a¢tivitie8- Interest recewed 390 731 Nèt cash provided b financlng actlvllles 390 731 (Decreaseji increasè in cash and cash equivalents in the year 110.5291 13.318 Cash and cash equivalents at the start of the ear 42.844 29.526 Cash and cash equivalents at th• 8nd ofthe Rèlating to: Cash at bank Total cash and cash equlvalents 32,315 32,315 42.844 42,844 Parabola Foundation Notes to the financial statsments for the year ended 31 March 2025 Accounting policies 8a818 of preparatlon The financial slalements have been prepared in accordance with Ac¢ounling and Reporting by Charities.. Statement of Recommended Praclice applicab￿ to chartties preparing their accounts in aceordance with the Financial R8IKJrting Standard applicable in the UK IFRS 1021 Charities SORP IFRS 1021. the Financial Reporting Standard appluble in Ihe UK (FRS 1021 and the Companies Act 20{￿. Parabola Foundation is 8 Charitable Company limited by Guarant*. r￿IStered in England. The address ol the Cbarily's registered office and principal place of business is Level 4, Dashwood House, 69 Old Broad Street, London, EC2M 1QS. The charity meets the definition of publie benefrt entity under FRS 102. Assets and liabilities are initially recognised * hislorul costof transaction value unless otherwise staled in the relevant accounting policy note. The financial ststem8nls are prvJented in sterling wh￿h is also the functional currency of th8 charrf(able company. Monetary amounts in these st*ements are rounded lo the nearest £ except wheré othèrwise indicated. Golng concem Financial Reporting Standard 102 requires, rf appropriate. thal the charty's financial statements are prepared on the going concern basis, which means that Ihè charity is able to operate for the foreseeable future on the basis of known and reasonab18 projected resources. The enlily is in a del￿￿1 p0511ion al the yearended 31 March 2025, however it has conlimied support from Peter Millican and the Par8bola Group lor a period of at least one year from the approval ol these financial slatem?nls lo cover non-current liabilities and budgeted future exp*nditure. As a resull the going coneem basis of accounting is appropriate. Incomlng re¥our¢e8 Income is rec￿niSed in the period in which the charitable company has enlitlemenl lo the fur)ds, any conditions attached lo the income have been mel, il is probable that the income will be received and the amount can be measured reli8bty. DOnat￿n income Donation Income includes gifts and ¢k)nations and any lax that can be feclaimed on amounts r8ceived under grft aid. Donation income is included in the Ststement of Financkil Activities when receivable. Interest receiwable Interest on funds held on deFKJSit is included when receivable and the amount can b8 measured reliably by the charity., this is nomially ￿￿n n0tfftal￿n of the interest paid or payable by the bank. Rgsourcgs oxpended Expenditure 15 all considered as expenditure on charitable aclivit*s. Expenditure is recognised once there is a legal or constructiv8 obligation to make a payment lo a third paty.. il is probable that settlement will be required and the amount of the obligal¥)n can b& measured reliably. ResoU￿e$ expended are included in the Statement of Finonual Aetivities on an accruals basis, inclusive of VAT. Parabola Foundation Notes to the financlal statements for the year ended 31 March 2025 Accounting policies (continued) Expenditure on charitablg a¢¢lvltlgs Including grants payable Grants payable are recognised when an uncondib'on41 offer has been made by Ihe Foundation. Grants offered which are subject to conditions are recognised when the Trustees have reason lo believ& that the conditions have been met. Vvhere the Ttustees approve a grant that is payabl8 in inslalmenls over a period of a number of years without spec[r￿ condrtions attached. the totsl amount of that grant is charged in the accounts during the year of approval. Fund accounting General funds are unrestricted funds whith are available for use al the discretion of the Trustees in furtherance ol the general obj-ecbves of the charity and which have not been designated for other purposes. Flnanclal Instruments The charity has elected lo apply the provisions of se￿lOn 11 'Basic Financial Instruments" and Seclion 12°Olher Financial Inslruments Issues" of FRS 102. in full lo all of its finanual instrument5. All of the charity's linancial ass8ts and financial liabilities qualify as basic linaneial instrumènts. ￿$1 financial instruments are inibalty reccyjnised at transadKJn valu8 and subs8qU8nlly measured at their selllemenl value. Cash at bank and In hand Cash al bank and cash in hand includes cash held al bank and cash in hand. Debtors Debtors are recognised where the charity is CY•ved grft aid on (h)nations and measured al their recoverable amount. Creditors Cr8dilors are recojnised where the chanty has a presenl obligat￿n resulting from a past event that will prtsbab￿ result In the transfer of all funds to a third party and the amount due lo sellle the obligation can be measured or esiimaled reliably. Credrtors are nomially recognised al their s8tt1em8nt amount. 10 Parabola Foundation Notes to the flnancial statements for the year ended 31 March 2025 1. In¢om& Donalitsns and Leg8cies Total Unrestricted Funds Year ended 31 March 2025 Total Unreslricled Funds Year ended 31 March 2024 Donations Gift Aid on donations Interest on Grfl Aid 428,200 19,050 936,200 19.050 485 955.735 447,250 Investment Income Total Unrestrictèd Funds Yearend•d 31 March 2025 Total Unreslricled Funds Year ended 31 Mareh 2024 Bank intsresl receivable 390 731 2. Expenditure on charitsblo a¢tivitle8 Total Unrèstricted Funds Year ended 31 March 2025 Total Unrestricted Fund5 Year ended 31 March 2024 Governance costs Donations 3,162 285.127 288,289 3,600 853,400 857,000 Parabola Foundation Notes lo the flnanclal statements for the year ended 31 March 2025 2. Expendlture on charltable activities (continugd) Governanc8 costs are made up as folk•WS.' Total Unrestricted Funds Year Ond￿ 31 Mareh 2025 Total Unreslricled Funds Year ended 31 March 2024 Fees id to Inde endenl Examiner 3.162 3,162 3,600 3,600 Donations.. Totsl Unrestricted Funds Y&arended 31 March 2025 Total Unreslricled Funds Yéar ended 31 March 2024 Amounts pald to In8tltutlon8: Creative Arts Other 280.674 4,453 843,400 10,OLIO 853,400 Institutions: Kings Place Music Foundation Ruwenzori Povety Rèlief Foundation Other 225.000 18,000 2,000 40.127 285.127 711.000 36,OOD 106.400 853,400 3. Staff co8t8, Tru8teos' remunèration, benefit$ and expenses The company has no employees. There were Tiustees, remuneration or other benefi15 or expenses paid for the year ended 31 March 202512024= £nil}. 12 Parabola Foundation Noles to the financial statements for the year ended 31 March 2025 4. Crèditorn.. amounts falling due within one year At 31 March 2025 At 31 March 2024 Accruals and deferrèd income Accruals for ranls payable 3,042 170,OOQ) 173,042 170.000 173.162 5. CTeditor8: amounts falllng due in more than one year At 31 March 2025 At 31 March 2024 Accruals for grants payable.. Due within 2- 5 ears 325,000 325 000 495,000 495,000 6. Analys18 of charftsble funds At 31 Mareh 2025 Al 31 March 2024 Unrostricted funds As al 1 St April 2024 Unreslitled funds movement A5 at 315l March 2025 {625.1981 159,351 465.847 {724.6641 99,466 625,198 Nel movemenl in funds, induded in the above are as follows.. In¢omlng Resources Re80urce8 Expènded Pjlovgmgnt in funds Unre8trlcted fund8 General Fund Total funds 447.640 447.640 288,289 288,289 1S9,351 159 351 General funds ale held in order lo fuTlher the objects of the ch8rity. 13 Parabola Foundation Notes to the financial statements for the year ended 31 March 2025 7. Analysis of charitab16 funds {continued} Net Asset by fund 2025 Unceslricled funds Totsl funds Nat current liabilities 1140,8471 {140.847) Lon term liabilities 325,000 325,000 465.847 465.847 2024 Un￿StriCted fvnds Total funds Net current liabilities (130.1981 1130.1981 Lon term liabilities 495.000 495,000 625 198 825.198 7. Flnanclal Instruments 31 March 2025 31 March 2024 Carylng amount of financial assets Cash at bank 32.315 42,844 42,844 Carylng amount of linancial liabiliti08 Measured al amortised cc61 498,162 668,042 8. Recon¢lllatlon of net movgmont ID lunds to not cash from oporating activities 31 March 2025 31 March 2024 Net movement in fund5 Oeduct inleresl receivable (Decreasell incr8ase in debtors Decrease in creditors Nel cash (usedll provided by operating acbvilies 159.351 {3901 99,466 17311 93,75D f79,898 169,880 12,587 14 Parabola Foundation Notes to the financial ststements for the year ended 31 March 2025 9. R8lated party transactions Peter John Millican. chair of the Board of Trustees, a Trustee of Kings Pla￿ Music Foundation, Ruv4enzori Seulplure Foundation and Poverty Relief Foundation who received donations from Iha charity during ihe year_ Th8 charty regards these Institut￿￿9 lo be related partiès. In addition, PeterJohn Millican is a director ¢f ParaboLg Estate Hoklings Limited and Parabola Management Limited who paid donations lo the charity during the year. Peter John mill￿an also paid donations lo the charity pérsonally during the year. The charity had the followng transact￿ns/balanCeS with related parties.. Ruwenzori Sculpture Foundation Klnus Pla¢0 Mus Foundation Poverty Rtliof Foundation Porabola Group. P•t•r Milll¢an 2025 2024 2025 2024 202S 2024 2025 2024 2025 2024 Incom•- Ik)naDons Expenditure donaions 352,¢JOO 860.000 76,200 76.200 18,000 225.000 711.OC(I 2JlfKJ Expenditure - Oiher Oèbtor balances al ear end Creditor balances at &ar er Parabola Group- Parabola Estate Holdings Limited £282.0(NJ12024-. £295.0001- Par8bola Management Limited £70,00012024: £5S5,0001 and Parabola Prinees Street Limited £nil12024.' £10,000). 10. Lègal statu8 of charlty The charity is a company limited by guarantee and has no share eapital. In Ihe event of the charity being wound up, th& liability in resped of the guarantee is limited lo £1 per member of the charity. 15 Parabola Foundation 11. Parabola Foundatlon Minutes March 2025 Charity Number.. 1156008 Company Number". 08812870 PAPABOLA FOUNDATION I￿￿CCI￿p￿nr￿ MiTrute5 of a meet{￿￿0[ the board of trustees (the TtVS¢Eesl tsf the Cornpany tyvJayoFmeeting at MatfeTh tsn kl 2Q25. Present.. Debor•h Wisonjudo {DAJI IChalrpErsonl Im atttndènce: Peterjohn Mllkan IPJMI DEl￿h Mllknn (ADMI I. OPENING 1.1 11 wasnotÈd that properDotice of the meèiin8 had beenwen and i*at the meetin8 had been op¢JtyconYenedand thai a quorwi was we5eni. ThÈ Chairper50n deciired the Meeting open. 1.2 E¥¢* Of the TrusteesdetL4red any imierests ifi the prop)sEd I)usi￿55 io be di5CV55ed at the meetin8 if* actordance with the c￿)panies Act 2(t6 and li was r￿ted that al Trustees we PJM CO*inues to have regulaf coniirt Mlh the 16 Parabola Foiindation board ol KPMF. PJM keeps and ADM inforrned. The Trustees thereft>re were sau5fied that the financial OVer￿ght and O￿oUntablI..ty for that the Compan¥ has pr￿ided tts KPMF 15 being ￿aintained and that thrywill coniinue to prow,dE SUPPOrt tyway of dortaiions. 2.3 The Cotnpany aJ5DCDntinues Core Guts(oJo cohort bywoy of reg¥lar rTh)nthfy P3ymen¢51o am aÈreedaJnount. PJM lad wevtovsty exp￿sSed some concern about the aicountability for ihe fUndingt￿(Ompan¥ prO￿ded and this was iddressed. 2.4 P)M and ADM W￿r.M￿d the oiherErnnts3nd 6viards made by Ihe Company drringthe perK)d AprS12024 10 March 2025 and it was vA)tpo rhai Ihese ptymentsare in line *ith the Db..eCl￿es Df the Cofflpany. 2.5 The 5UPPOrt Provided bythe Ccthpanywasdeemed to have athleved IhEobjeitive5 olt*e Company and th2funds h4ve bee￿ Ulilised c(pfTecdylN the r￿l￿entS for the spedfic proieds. PJM and ADM h￿e￿OSe kn¥0￿eMent with thè cha￿r￿S ￿0..eceWe fund5. and wh￿h hEIps ensure thaithe retipieTht charities are uyiTré Ihe Ivndslor the purp05es forwhich theywe gNen. 3. ACCOUNTS 3.1 Karen B13ck IKBI at Paiabok continues lo prepare monlhty manaeErDEnt accountswhich are seni 10 Trn5tees f0rapprovala￿ whKh a(c[￿￿t$ indudp detai￿Of 311 payments. receipts and cash fk)w bearine in mind the cornrnitment50f the (￿pany. KB is also k£ptad￿5ed of addilionèl flnanckil sUPPOrt Olle￿ iocharrt￿5lD0rder that K8 and the wider Parabola team are aware of cornmiimefits and cash fiow. ThÈ fI￿ntIal support Hleniiried tor ihe Cotnpany continues to be provided ty persanaldonayons from PJM with the balan￿ required to meei it5 cornmitments bern8 Ptovided ￿ or* or rmre orthe ParA￿.,￿entitie$. 3.2 KB also Accow)iSWih the CharityComffti$5ion atKI isregisttted to th) so. DAJ will rerx>n ) the poshiK)n for rettsrding theTrur.ee5 ￿?1[¢￿$. 4. PLANS FOR NEXTYEAR 4.1 The Trusiees noie that thryareasmall chaiily3nd as the tnajorityof don3tKin5they re£ewe are ptovided f70m the PaKabola enti1￿5 Iwith PJM provKSin8 a don&￿0￿) they do need to hav a robust Cashf￿W forttssl for Ihe ye3r 35 those entit*sand PJM nEed to wwrwr8te rhose donations into theirown cash nuw. The 2025 ManagementAccounis the¢efoie based on cu(rent commitmerts a5suine5 donè.ijis totalling £431.2k and dDnBtK)ns paiLI of £455k. was noted that GIf1￿d i% receryed on donations from PJM and thatthe Oiher doTration5 will kn the usual wty be fruwn Dne or more of ..he Parab)la entities. 4.2 The monthw paymeniso1£lO.￿)) to CDre Gufs at £10,￿ perrnNih %Yill cont&nue a5 pari 8reemeDt wilh them. The ￿t￿r cbari1iesw￿jM theT￿stee5 inteThl to berefji are as detaI￿d in Ihe Managemenr Ac£ounts. 4.3 KPMF continues to require addlllonal fwJrD& It ￿MaInS part of ihe longer-term strate8yof KPMF to become flnanoatty indepeFthnt of funds Irorn Compay. The Trustees note the 5trale8yaThJ 5UPW)rt it. 17 Parabola Foundation 4.1 Asa grant Tnakir¥charty Company¢ontiDues tDreceNe several appeals for fiom otherchariiie5 and o￿a5￿TralI¥ from 1ndNid￿￿_The Trustees continue toadopl the procedure Ihey put in place for deèlin8WTth all gJih appeals. Any requests for f￿dIng￿re re¥￿ved ai cerr8in point5 throughgut the year ty Pjkl ADM. Where anapplicatKkn has not been approved then a stsndaid letiw Is used to ￿￿trfYtthSe applican15.and il 15 ewlained thai in the view of the modest ￿Ze of the CompaThyand the lact thai the Tr￿tee5 ￿rSOnallY Sdeniify charitie5 they wouw wtsh=o befjEfit then those ch4rities norcurrefti￿ expect to rEcei¥e any advance or 5UPPDrtfrom iheCoAw3ny. The T¥usteesapproved the current arra#Eement5 and saw no reed forthan8e. 4.5 It had i*ena8reed thar DAJ wotsfd consHler how longthe inforniaihin held by it*se charilies and T￿ cortespondEnce ￿th them th)vld be retèined èhd on older to comptywith Data ProteitiDn ￿lsIar￿n this has been advi5ea. 5. CLOSE There wasTh) furtI￿rbY$lne5s, athd the chal￿e￿ir￿deCllred meetSr*dosed. tll.J.AU. chairpe￿0￿ Iifv 2025 18