REGISTERED COMPANY NUMBER: CE010848 {Engl8nd and Wales)
REGI￿ERED CHARITY NUMBER: 1174374
POR
FTH
TRU
ESA
NA
DITED FI
AN
IA
STAT
MENT
FOR THE YEAR ENDED
T 2024
OR
TH
I FOUN
ATI
Xeinadin South East Ltd
CT¢Jle Business Hub
Ground Floor
5 Rayleigh Road
Hutton, Brentwood.
Essex
CM13 IAB

THEM
DIF
NDATION
NT
THEF
AN
FOR THE YEAR ENDED 31 A
TEM
UST 2024
Page
Report ol the Tru$tee5
Independent Examlner's Report
Statement of Fln4n¢lal Actlvlties
Balanee Sheet
10 lo I I
Notes to the Flnancial Statements
12 to 15
Detlllod Stjtement of Flftxnel&l Actlvltlel
16

HE MADDI
UND
TJON
REPORT OF THE TR
EYEARE
TEES
024
Thc Iruste¢s who are also directors of the charity for the purposes of Ihe Companies Act 2006. presei)I their report with
th¢ financtal slatem¢nls of the charity for tlie year ended 31 Au8USt 2024. The Iwslees havc adopted die provisions of
Accounting and Reporting by Charities: Sthieinenl of Rccoinmended Praciice applicable lo cliarilies pryaring their
accounts in accordance with the Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 1021
(effective l January 2019).
STRUCTUR& GOVERNANCE AND MANAGEMENT
Governlng document
The Charity is controlled by ils governing documenL a deed of trusL and conscitules a limiled company, limi*d by
guaraote¢, as defined by Ihc Companies Act 2006.
REFERENCE AND ADMINIST1￿TIvE DETAILS
Reglstered Company numb¢r
CEO10848 (England and Wales)
Regls¢er¢d Charlty number
1174374
Reglstered offl¢e
Xeinadin South¢abt Limited
Create Business Hub
Ground Floor, S Rayleigh Road
Shenfield
Brentwood
CM13 IAB
Page I

TH
MAD
I FOUNDA TION
REP
RT OF THE TRU
YEAR END
TEES
2024
Trustees
FOR THE PERIOD I SEPTEMBER 2023 TO 31 AUGUST 2024
The trustees, who are also directors of the charity for the PUTposes of the Companies Act 2006, present th¢iT report with
the financial slatemenls of the charity for the period I September 2023 to 31 August 2024. The mistecs have adopted
the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice &pplicablc ¢0 ¢harilics
preparing their account% in accordance with the Financial Reporting Siandgrd applicable in the UK and Republic of
Ireland (FRS 102) (effective l January 2015).
INCORPORATION
The charitable coinpany was ii)corporated on 24 August 2017.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Govemin8 document
The ch&rily is controlled by ils governinB document, a Deed of T￿51. and con.81ilutes a limiied company, liiniicd by
guaranlee, as defin￿ by the Companics Act 2006.
The organisational structure of Ihe cliarity and how decisions are made.
The boord of tNstee5 consisls of4 individuals as of 31 sl Augus(2024.
Corina Thur8ood is CEO and 15 responsible for the day-lo-day organisation of tlie charily, workin8 ¢losely with oilier
trust¢¢$ and managenient on decision making matters.
REFERENCE AND At)MINISTRATIVE DETAILS
Registered Company nliinber CEO10848 (England and Woles)
Re8lStered Charity niiniber 1174374
Rcgislered office
XLinadin South Easl Lid
Create Business Hub
5 Raylei8h Road
Shettfield
Brentwood
Essex
CM13 IAB
THE TRUSTEES
Mrs Carina Thurgood
Miss Alcxandra Thur8ood
Miss Victoria Bissett
Mr Hany Thurgood
Reference and Adminislraiion Details
Intr(￿UctIon from tlie Trus(¢es
Th¢ Truslees of The Maddi Foundation are plcased to present tlie charity's founh annual review. covering Ihc financial
ycar cnding 31 August 20?4. We confirn] that the Foundation has operated in full compliance wilh Ihe Charilics Act
201 l throughout the reporting period.
About the Foundation
The Maddi Fouiidation was founded in August 2017 by Carina and Alexandra T])urgood following tlie diagnosis of
Carina's daughter and Alexandra's sister. Maddi, with SPG15. a rare, inherited neurode8¢n¢ralive disorder. during Ihe
summer of 2016. Ai ihc iiine, Ihere was 110 UK-ba5ed organisation dedicated to Iupportinbp medical research into
SPG15, a complex subtype of Heredilary Spaslic Paraplegia. The Foundation created lo fill ihts critical bpap and to
provide hope for Maddi and others atTeGted by Ihis ulira-rare condilion.
Governance and Oversighi
Page 2

TH
MA
DI FOUNDATI
REPORT OF THE TRUSTEES
FOR T
YE
ENDED
UST2
24
The Board of Trust¢¢s meets annually ai thc end of each financial year to review the charity's actlvllies, assess progress
loward its strdte8i¢ objective5, and consider any necessary updates lo policies. procedures. or governance slructur¢s.
This ongoing oversight ensures that the Foundation continues to operate effectively aT]d transparently in line wilh its
cliariiable objectives.
Our Focus and Aclivilies
The Maddi Foundatioii is dedicated to fundin8 high-inipact medical research into SPGIS and Tclatcd rare gci)eti¢
coiidilions. Siiice our launch. we have primarily supported a long-lenn geiie therapy research ii)itiative in Ihe UK, while
also building coni)eclions with researchers in Europe and the United Slat¢s lo explore additional colljboraiive
opportunities.
In parallel with our research efforts, we are committed lo raisiiig awareness of SPG15 through participation in rare
dilieasc iielwork4 as well as via OLir wcb5it¢ and social mcdia plaiforms. By increasing visibilily and ¢ngAgLment. we
aim to reach more afTecl¢d familles. support knowledge-sharinB, and Slren¥ihLn the inteniAiioiial effort to find effcclive
Ireaiments.
THE MADDT FOUNDA TION
REPORT OF T14E TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2024
Our Mission and Grant-making Approach
Since our establibhmcnl in 2017, our foundaiion ha?* b¢en comniilled lo advancing re￿IrCh inio Irclllmcnls for SPG15.
r&r¢ and complex neurolo8i6Jl Londttion. Through d¢dical¢d fiindrnisiny Lfforts, including cominunity ev¢nts, donor
caiJ)pgi¥ng, and institutional ¥rants, we have suc¢¢ssfully raised the financial t>UPPOrt nccL'ssary to drive forward
sci¢ntific disLovery. Based in lh¢ UK, wc have built a slrong inlemalional network of rcsta￿hcr$, clinicians, and
parln¢r or8unisations, particularly across EuiY)pe and the United Stales. Wc believc that 8lobal collaboration is ¢55cnlial
to accelerating progress and acliieving meaningful breaktl?roughs in SPG15 researcli.
Our gra￿t-makIng policy is firnily rooted in our Ini55ion to support innovalive and impactfiil researeh. All rcsearch
graiits Arc fvnded through donations specificolly earmai'ked for SPG15. In assessing potential grant allocations. we
work closely wilh Professor Mtmoiin Az7.ouz. a Icading expert in Il)e field of gene therapy. Professor Azzouz hcad5 Ihc
research tcam at ihe Slieffield Insiitute for Translational Neuroscience (SITraN) scrv¢s as DircLlor of thc Genc
Therapy Innovation and Manufacturing Cenirc (GTIMCI. If Slieffield Univ¢rsity is unable to Secure aliemative fundin8
for SPG15 research, our foundation seeps in to provide targeted financial suppon to his te8m's pioncering work.
E8ch fundin8 d¢¢ision is review￿ and approved by our Board of Trustees in consultation with our sci¢ntific udvisory
panel. This pr0¢¢55 ensurcs that all supported projects are scientifi¢Nlly sound and have Ihe poienliol to meaningfully
conlribuie lo the development of cffeciive ireatsnenls for SPG I S. We remain deeply e¢>mmitlcd lo ensuring iliat ev¢ry
grant iv¢ provide brings us closer to & future wliere those offccled by SPGI 5 liave access to viable therapies &nd
improved qualily ofiife.
Whal is SPG15'P
SPGIS, or Spastic Paraplegia Type 15. is a rare and progressive iieurodegeiieralive disorder classified wiihiii tlie group
of hcreditary spastic parjplegias (HSPS), 11 is also con5ider¢d a fonn of motor Iieui'oii disease, as it affects both the
central and peripheral nervous systenis. SPG15 is caused by mutatioi)s iii ihe ZFYVE26 geiie, which plays a critical
role in the health and funciion of nerve c¢ll5.
Onsel lypicJlly occurs in childhood or adolescence, wilh early symptoms often including stiffness (spasticily) in (he
leg8 and difficulty w&lkiiis'. As Ihc conditioii pro¥rc%ses. il can lead lo increasing paTalysis of the lower and upper
liinbs, accompanicd by g¢veTe miiscle weakness and ¢oordinaiion dI￿l¢ll111¢s. In many casL's. individiials wilh SPG15
evLnlually becoine wheelchair dependenl.
Page 3

THE MADDI F
NDAT
REPORT OF THE TRUSTEES
THE
R ENDED
24
Beyond moior impaimjent, SPG15 also in)pacts th¢ brain ni9￿ broadly, causing a rdll8e of neurological and cognitive
issues. These may include thii)ning of the corpus callosum (a vital brain structure that connects the two hernispheres),
causing learning difficulties. speech and langua8e delays. The disease can also affect visioii ihrough relinal
degencTalion, impair liearing, and lead to urinary inconiinence. Sonie individuols may develop ¢arly-onsel
parkin50nisn), a condition tliat mimics many fealures of Parkinson's disease.
SPG15 is inherited in an aiitosoinal recessive pattern, Ineaning boih pAren15 Inust carry a copy of Ihe fauliy gcne for
child to be affected. Due to ils rarity. SPG15 is often und¢rdiagnosed or niisdia8nos¢d. and awareness ainong
healthcare providers remains limited.
Currently, there is no cure or approved treatmenl for SPG15. Management is focused on relieving synipiom$ and
maintaining mobility and quality of life tl)rou8h supportive care, including physioiherapy, occupational Iherapy, and
assistive devices. Research 15 ongoing lo beller understond the underlying biology of the disease and to develop
targeted Iherapi&s, in¢luiiing gene Iherapy.
Raising awar¢nc¥b and fuiiding re>earcli ar¢ vilal si¢ps toward finding a cure and improvin¥ outcoiii¢s for individuals
liviii8 with SPG I S Dnd iheir familie¥.
Report of the Trustee5
For the year ending 31 Augiist 2024
W¢ present our report aloiiE with the financial slalements of Ihe Charity for the year ended 31 Augiisl 2024. The
tNsiee.s have adopted the provisions of Accounting and Reporting by Charities: Siatenienl of R¢coinixended Practice
applicablc io ¢hariiies p￿parIng thLir accounis in accordance wilh lh¢ Financial Reporting Standard applicable in Ihe
UK and R¢piiblic of Ireland (FRS 102) (cffective l January 2015).
Our Aims and Objectives
Th¢ Maddi FoundJtion is fully commiiied to driving forward rcsearch into Her¢ditsry Spasti¢ Parmplegia Typc 15
(SPGIS}, with tl)¢ uliimale goal of identifying ai) effeciive ireatinent, and one day. a cure, Since our iii¢¢ption ii) 2017
we have worked closely with Ihc researcher5 leading Ihis vital work. ensuring Ihal our efforts arc 51rategicAlly aligneii
with scientific dcvelopments. We believe colloboration is esseniial. and we aclively cngag¢ wilh clinicians. scienlisl$,
and oil)er ror¢ diseas¢ or8Anisations across tl)e UK and inlemationally to accelerate progress.
Our Defined Aims
l.Raise Awaren¢ss'.
Increase public and profcssional awareness of SPG15 and related hercdilary spastic P¢iraplegias by providing accurote,
accessible, And Up-t￿dal¢ infoTmation through our wcbsile, social media channel$, and oulrcach initiatives.
2.Fund R¢seoreh:
Generate and allocate fuiids to suppon cutliiig<d8e scientific and clinical researcli into tl)c CaU8e8, progression, and
poieiili&l trealmcni of SPG I S, with a focus oli Ilierapeutic innovaiion.
3.Provide Resources and Build Cornmuniiy,"
Curate and share coinpr¢hen$ive resotsrces, includin8 pccr-reviewed research paper%. clinical trial updaies, and
educational matcrials. We aiE also dedicated to fostering a supportive nclwork for families aiid individuals affected by
SPG15, promoting kiiowledgc-sharin8 and mutual support.
A Charitable Pu￿0.$C with Public Beiiefii
When we esiabli8lied Th¢ Maddi Foundation, our first priorily w&$ to ensu￿ tl)g1 our Mims ¢lcarly served th¢ public
inieresi. These objectives fonned the foundation of our &ppli¢aiion to becoine a Cliarilabl¢ Incorpordled Oryanisalion
(CIO). a status ¥ranted by ilie Charily Coinmission iii recognition of our comniilinent lo public benefit.
Page 4

THEM
DJF
IYDATION
REPORT OF TH
TRU
TEES
FOR THE Y
REN
ED
UGUST 2024
In planning and delivering our aclivities, we adhere stricily to the Principl￿ outlined in the Charities Act 2011. We
have followed all relevani guidance frorn tl)e Charity Commission. ¢nsuring our operalions consisienily meet tlie
standards of transparency, accouniability, aiid impact expected of charitable organisations. The public benefit of the
charity's aciivities i.s outlined under'our Aims and Objeclives, and 'Achievements and Perforniance,.
Achievements and Peiforniance
The MAddi Foundation is commilled io funding cutlin8-cdge nwdi¢ftl research lo develop effective IreaimcnL8 for
SPG15, with the goal of haltin8 the progression of this devastalin8 disease. At presciil, many familie5 affected by
SPGIS have no tffalmenl options lo slow the disease or improve qualiry of life. We are detern]ined lo change Il)at by
supportiiig proinising scientific advances and forging strong collaborations with world-leading experts in the field.
Our ProgTe5s So Far
Since 2017. the Maddi Foundation has focused its efforts on advancing ¥ene Ilierapy as a Polenlial Irealmenl for
SPG15. a rare neurologi￿] condition caused by the absence or dysfunciion of the SPG15 protein due to mulalions in
Ihc ZFYVE26 ¥ene. Gene Ih¢rdPy is an innovative and evolving area of medicine that seeks lo replace or repair faulty
enes rotlier ihan tr¢ai syinplom¥ with iradilional dNxs. For SPGI 5, Iliis approacl) holds immense proinise, il
directly lar8ets thL rool ¢￿U$¢ of the disease.
Our primary re¥ear¢h collaboration is with the University of Shctfield, home to the Sheftield Inslityle for Translational
Neuroscience (SITTaN). where Professor Mimoun A220uz and hi.4 le&ni are pioneering gene replacement strategies
specifically for SPG15. These resear¢hers are currently t¢slinE several approaches to deliver functional copies of Ihe
SPGIS gene, working ihrough the challenges of targeting the brain and spinal cord effectively. Preclinical studies usiiig
validaied cell and animal models are underway to deterniine the most promisin8 path forward.
We irc also Slill proud lo be Collaborating with AskBio for another year, 8 global pharnia biote¢l) company specialising
in gene therapy, lo support and accelerate the research cfforts at Sheffield. Together, we are moving closer lo
identifying a vifiblc thernpy thol could Lhange the lives of SPG15 patients.
As part of our growing portn¢rship witli the rese4rcli commurtily, wc were recently inviied lo visit ihe Gene Thcrapy
Innovution and Manufacturing Cenlre (GTIMC) in Sheffield, where we met witli Profe.%sor Az20uz. GTIMC is one of
Ihree hubs in Ilie UK that will soon be capable of manufacturing 8en¢ Iherapies for rare diseases like SPG15. Tliese
centres are cwcial for translating laboratory breAkthroug])s into treatments that Can be tesied in clinical lrials aiid
eventually brou8hi to patients.
It's important to not¢ that because SPGI 5 is an ultrd-rare condition, it would not havc gained scientific attention without
the dedicated efforts of our foundation and our supporters. With so fcw paticnts worldwide. large-s¢al¢ commercial
investmenl is unlikely. so we Continue to fundrdise and advocalc (o keep the niomcntum going. It 15 this continued
support Ihat allows world-closs scientj5ts to ￿MaIn enga8ed in finding a cure for Maddi an(1 others affecid by this
condition.
Global Collaboration
fn addition lo our work in Ihe UK, we mainiain close lies wieh in¢emaiional researchers. We r¢cenily Iravelled lo
Boston Children's Hospital to meet witli the team l¢ading the Natural History Study for SPGI S, und¢r the direction or
Dr. Dariu5 Ebrllhiini-Fakhari. This lin￿rtant Study is crcaliiiE a global regislry of SPG15 patieiits, wlii¢h is crilical for
understanding the disease's progressioi) over time and preparing for future clinic81 trials. Thanks lo these efforts, many
Iiiore patients have now been enrolled, expanding the data available lo scientists worldwide.
Looking Ahead
The Maddi Foundation remains al the forefTonl of efforLS to bring SPG15 from obscurily into Ihe 5poilib,hi or
cutting-edge rescarch. Every step forward, from lalK)raiory breakthroughs to intemalional collai)oraiions. briiig5 US
closer lo real hope for affected families. Wilh your Continued support, we will keep piishiny boundaries, funding
life-changin8 science, and workin¥ tirelessly to reoch the day when SPG15 is no longF¢r untrealablc.
Support and Global Outreach
Page 5

THE
DDI FOUNDATION
REPORT OF TH
TRUSTEES
FOR THE YEAR EN
31A
GUST 2024
At the heart of The Maddi Foundation is our commitment to supporting families affected by SPG I S around Ihe world.
As awareness of SPGI 5 grows, more families are finding their way lo us, often tlirough referrals from neurologisis and
geneiic speciali51s familiar with Herediiary Spaslic Paraplegias. Our website CODsislently ranks highly ill onliiie
Se8￿h¢S for SPGI 5, makiiig il a vitsl point of connection for those newly dia8noscd or seeking guidance.
Each family's journey witli SPG15 is unique. but they all sliare a eommon need.. access io accurale infom)atioii,
emotioiial support. aiid opportunities to engage in research. Wheii families rea¢h oul lo us, we provide compassionate
support and PTacti¢al guidance based on our own experience and knowledge of ihc 8lobal research landscape.
One of the most important ways we help is by introdu¢in8 faniilie5 to the SPG15 patient registry and Natur41 History
Study led by Dr. Darius Ebrahimi-Fakhari at Boslon Children's Hospital, This inlenialional study plays a critical role in
understanding how the disease progresses aiid prepare5 the groundwork for fulure clinical trials. Once families are
conncclcd, Ihe Bosion team follows up directly, eiiher through in-p¥rson meetii18s or video consuli&lions. lo explain ihe
study, answcr queslions. and orrer suprK)rt tailor¢d to eAch fainily's cir¢urn¥lai)c¢s.
By helpin¥ f&imilic5 participate in Iliis research, we nol only provide them with acce¥s lo expert care and knowl¢d¥L bul
Iso conlribule lo a 8rowin8 global dalasd thai will be invfjluable for developing and testing future Ir¢a¢menls.
We believe that no fan)ily should face ihis diagnosis alone. Through coi)linuous outreaeh, collaboration with healthcare
professionals. and mainlaining a .8lroi)g online preKnce. The Maddi Foundation i¥ building a supportive international
coniniunily uhilcd by ihc shared goal of findiiig a eure for SPG15.
Raising Awaren¢s5
At Thc Maddi Foundation, raising awareness of SPGIS is a corc part of our mission. Our wL'bsile,
[www.Iliemaddifoundaiion.com], serve5 as a central liub of infurinalion for families, cliniciuns, ond ies¢archers. It
providcs ucccssiblc, upto-date conlenl about SPG15, including curr¢nt research effons, ￿LentifIC rcsourLes, and
support Options. We strive to ¢nsure it rei)uins a trusted and valuable source for thc global SPG15 community.
To further amplify awareness. we have gromi our presence across major social Inedia plaifonns, including Facebook,
Insiagram. and Tiyitter. Tliese channe15 ullow us to share updaic5 on medical research. promoie fundraising events.
spotlight patien¢ siories, and keep the public infonned al)oui our ongoing initiatives. Througli digital outweach, we
conliiiue to conn¢¢t witl) a broader Judience ond build a supportive online coinniunity.
Wc maintain a closc and active partnership with Ihc University of Sheffield. where leading reseurchers arc Working lo
develop a gcnc therapy treamlcnt for SPGI 5. As progrcss is Made, we shAre key updales from the resCa￿h team with
our supponers through our website and social media channe15. ensuring transparency and engagenient with iliose wlio
mukc our work possiblc.
In addition lo our UK partnerships, we collaborate with researchers worldwide who are dedic8t¢d lo understanding and
treating hereditary spasiic paraplegias. As proud niembers of Ilie Eiirop¢an OrBanisation for Rare Di.sease8
(EURORDIS), we rc8uIArly participate in internaiioiial ¢onfereiices and scientific meeling%. including ihose focused on
spaslic paraplegias aiid gene therapy. Wlien in-pcrson ali¢ndanc¢ isn't po&sibl¢. we cngage Ihrough virtual platfonns lo
slay connected witli the broader research communily.
Cariiia Thurgood. one of our co-founders, has s¢rved on the Board of Directors of the Spaslic Paraple8ia Foundaiion
USA since 2019. Her role slrengtheiis our tsYnsatl8ntic collaborations and helps unify global efforts to accelerate
researcl) and awareness for SPG15 and related conditions.
We remain dedicated lo expanding our knowledge of SPG15 and forgiiig new connections witl) medical reseairhers
and in￿1[11l11IOns. By sharing infom)alion. advocatin8 for patients, and supporting collaborative research, we aiin lo brin
visibiliiy lo ihis rare condiiion and drive progress toward effeciive trealments.
Our Fuiure Goals
Page 6

ADDI FOUNDATI
REPORT
F THE TRUSTEES
FOR THE Y
REN
D31A
GU
024
Looking ahead, The Maddi Foundation r¢matns stcadfast in its commitment to acceleratin8 research and expanding
81obal awarcness of SPG I S. Our soals reflect our long-term vision lo not only fiiid a treatment but ultimaiely a cur¢ for
this devastaling condilioh.
o St￿ng1henln8 Medical Research
We will conlinue lo prioritise and fund high-qualily inedical research. while a¢lively expanding our rtetwork or
sciditists working on Hereditary Spastic Paraplegia5 and other rare iieurodeB¢neTative discases. Building Strong
collaborations across academic and clinical communilies remains Cciilral to our strategy.
o Advancing Gcnc Therapy for SPG13
A key objective 15 lo support Ihe next phase of the gene theropy research progrnmine currently undenvdy at the
University of Sheffield. Should their approach coniiiiue to show posicive results in SPG 13 ¢ell and animal niodels, we
are prepared to fund further development in partnership with th¢ rese8￿h team. This programme remains our most
proiiiising avenue toward a targeted treattnent.
o Welcoinin¥ New Rescarch Proposals
We are actively sceking lo engaBe additional researchers interested in lackling SPG15. All new project proposa15 will
be Carefully reviewed ii) consultation with our scientific advisory board. Proposals thai demonstrate scieniific meril and
poILiilial lor rLal-world impact will ￿ considered for funding. Our goal is lo sllpport innovative. forward-thinkin¥
rcbcarch thal could lead to transforinaiivc breakthrouglis for individiials living with SPG15.
As a foundation focused on an ultra-rare condition. it can be challenging io find long-lerni truslees who ttre boih
passion&l¢ and committed. We are pleased to report ihai all CU￿ent members of The Maddi Foundation Board of
Trusiee5 have chosen to remain in posi for anoiher year. Their continued support reflects a shared dedication lo our
mission and to the fainilies we serve. The tnislees are proud lo be part of thi5 vital work and are fully comrnilled to
seeing our vision Ihrough.
TokT¢th¢r, with our suppoNLrs, researL'hers, and families, we move forward witl) detcrminaiion and l)ope, driven by the
belief thal a cure for SPG15 is within reach.
Company Sceretary
Independent Examiner
Michacl Loinoley
Xeinadin South East Ltd
Create Busines5 Hub
Ground Floor
5 Rayleigh Road
Hutton, Brentwood.
Essex
CM13 IAB
Approvcd by order of the board of trn51ees on .........,..,..............,..,.........,.... and signed on ilb behalf by.,
Mrs C Tlw
Pa8e 7

EPEND
THE
ADDI F
NER'S REPOR
UNDATION
TOTH
TRUSTEES OF
Independent ex9mlner's report to the trustees of THE MADDI FOUNDATION ('the CompAny')
I report to the charity irnstees on my examination of thc accounts of the Company for the year ended 31 August 2024.
Responsibllltles and basls of report
As the charity's trustees of the Company (and also its directors for ihe purposes of company law) you are responsible
for the preparation of the accounls in accordance with the requirements of the Companies Aci 2W6 {'Ihe 2006 Act.).
Having satisfied myself Ihat ihe accounts of the Company are not required lo be Ludiled und¢r Part 16 of the 2006 Act
and arc eligible for independent examination, I report in respect of my examination of your charitys accounts as Corried
out under Section 145 of the Charities Act 2011 ('th¢ 2011 Act,). In carrying out my examination I have followed the
Directions given by the Charity Commission under Sectioi) 145(5) (b) of the 2011 Act.
Independent examlner's statement
I have Complet￿ my examination. I confimi that no matters have come to my alt¢nlion in connection with the
examin81ion 8iving m¢ cause to believe:
accounting records were not kept in irspe¢t of the Company D5 required by Se¢tioi) 386 of the 2006 Act,. or
the accounts do not accord with ihosc record5; or
the ac¢oiiiils do not comply wilh the accounlin8 requirements of Seclion 396 of the 2006 Act oiher Ili&n any
requiffmei)t Ihat tlie accoui)Is 8ive a true and fair view which is nol a n)atter Considered as part of an
independenl examination. or
Ihe accounts havc noi been prepared in accordance willi the metliods and prinLipl¢¥ of the Sialemenl of
Rttommended Practice for accoui)tinby and reportin¥ by charilie& (applicable to charilies preparinb, tlieir
accounls in accordaiice with ihe Finaiicial Reporling Standard applicable in Ilie UK ond Republic of Ireland
(FRS 102)),
I have no concerns and have Come acros5 no other matters in connection with the examinaiion to which attention sl)ould
be drawn in this report in order lo eiiable a proper understanding of the accounts lo be reached.
Michael Lomotey. FcbA .
Xeinadln South East Lid
Create Business Hub
Ground Floor
5 Rayleigh Road
Hutt¢)n, Brentwood.
Es5CX
CM13 IAB
Dat¢..
Page 8

TH
MA
DIF
UNDATI
STATEME
T OF FINANCIAL A
FOR
E YEAR ENDE
31
IVITIES
T20
2024
Unrestricted
fund
2023
Total
fund5
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
12.728
17,515
EXPENDtTURE ON
Raising funds
2,S90
1.691
NET INCOME
10.138
15.824
RECONCILIATION OF FUNDS
Total funds brought forward
59,167
43,343
TOTAL FUND.8 CARRIED FORWARD
C?9.305
59.167
The notes form part of t])ese finaiicial siaiemcnls
Page 9

THE MADDI FOUNDATI
BALANCE SHEET
2024
Unrestricted
nd
2023
Total
funds
Notes
CURRENT ASSETS
Cash at bank
69,305
59,167
NETCURRENT ASSETS
69.305
59,167
TOTAL ASSETS LESS CURRENT
LIABILITIES
69.305
59.167
ET ASSETS
69,305
59,167
FUNDS
Unresiricted funds
69,30S
59,167
TOTAL FUNDS
69,305
59,167
The charitable conipany is entslled to exemption from audii under Section 477 of the Companies Aei 2006 for the year
ended 31 AUBUSI 2024.
The meinbers have nol required the eonipany to obtain an audit of its financial statements for the year endcd
31 Au8ilSt 2024 in accordance with Se¢iion 476 of th¢ Compllnies Aci 2006.
The tNste¢s a¢knowled¥¢ ihcir r￿ponsibIlitIeS for
(a)
ensuring that the charitable company keeps accountin8 records that comply with Sections 386 and 387 of the
Companies Act 2006 and
preparing financial 5talern¢nls which give a true and fair view of the state of affairs of the charitsblc company as
at the end of each financial year and of ils surplus or deficit for cach financial year in accordance will) (lie
rcquirements of Sections 394 and 395 and which otherwise comply with the requirement5 of Ihe Companies Aci
2006 relaling to financial slatemenls, so f&r as applicable to the ¢haritable ¢ornpany.
(b)
The notes form parl of these fittancial 5tatemcnts
Page 10
coniinued...

HE
DI
UNDATION
BALANCE SHEET - contlnued
These finan¢ial slatcnients have been prepared in accordance with the provisio￿ appli¢abL¢ to charitable companies
subject to Ihe small companies regime.
The financial stalements were approved by th¢ Board of Truslces and 8Liihoris¢d for issue
. and were signed on it5 behalf by..
on
-Thistee
A Thw8ood -TnJsteg
Mrs V L B138ett-Tn￿t8O
The noies form part of these finan¢i41 statements
Pagell

THE MADDI FO
DATI
NOTES TO THE FINANCTAL STATEMENTS
FOR THE YEA
DED
UG
024
ACCOUNTING POLICIES
Basis of preparing the Ilnanclal statements
The financial stalcmcnts of the charitable company, which i5 a public benefii entiiy under FRS 102, hav¢ been
prepared in ae¢ordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charitics: Sratement
of Recommended Practice appli¢able to charilics prcparing their accounts in accordance with tl)c Financial
Reporting Standard applicable in Ilie UK and Rcpublic of Ireland (FRS 102) (effective l January 2019),,
Financial Reporting Standard 102 'The Fin&n¢ial Rcporting Staiidard applicable in the UK and Republic of
Ireland, and the Companies Act 2￿6. Tlie financial stateinenls have been prepared under the liistorical cost
convention.
Income
All income is recognised in Ihe Statement of Financial Activities once the charily has enlitlemenl to the funds. it
is probablc that the income will be received and t])e amount can be Ineasured reliably.
Expendltyre
Liabililics arc r¢¢ogniscd as expcndilure J5 500n as ther¢ is a legal or constru¢liv¢ obligatton commiiiing the
cl)arity to that expcnditure. it is probable ih81 a transfcr of economic benefits will be required in scttlem¢nt and
Ihc amount of the obli8alion can b¢ measured reliably. Expenditure is accounted for on an accruals basis and
has been classified under hc8din85 that aggr¢gate all cost related to the cat¢gory. Where ¢osts Cannot be dircctly
attribuied io particular headin8S thcy have been all￿ated to a¢iivities on a basis ¢onsislent with Ihe use of
resources.
Taiktlon
Th¢ charity is exempt from corporation lax on its ch￿'[table aclivilies.
Fund Accounting
Unrestricted funds can be used in accordance witii the charitable objectives at Il)e discretion of the Iruslces.
Restricied fvnds can only be used for particular rcstricled purposes within the objects of tlie chariiy.
Restrictions hrise when spccified by the donor or when funds are raiscd foi. particular restricted purposes.
Furthcr explanation of the nature and purpose of ea¢h fund is included in the notcs to thc finfyncial staicment5.
RAISTNC FUNDS
Ralslng don4tlons and legacles
2024
2023
Fundraising costs
Subs¢riptions
Support costs
1.563
37
1.022
85
584
1,600
1,691
Page 12
continued...

THE MADDI
UIYD
TION
NOTLS TO THE FINAN
R THE YEAR E
ED
IAL STATEMENTS - contlnued
T 2024
TRUSTEESI REMUNERATION AND BENEFITS
Therc were no mistees, remuneralion or other benefits for ihe year ended 31 Augusl 2024 nor for tlie year ended
31 Augusl 2023.
Truslees, expenses
Trus*e5 wer¢ reinibursed for reasonable expenses properly incurred while serving as Irustees.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
INCOME AND ENDOWMENTS FROM
Donations and Icgacies
17,515
EXPENDITURE ON
Raising fitiids
1,691
NET INCOME
15.824
RECONCtLIATION OF FUNDS
Totfil funds brou¥ht forward
43,343
TOTAL FUNDS CARRIED FORWARD
59.167
MOVEMENT Iiy FUNDS
Nel
moveiiien¢
in funds
At
31.8.24
Ai 1.9.23
Unreitrl¢ted funds
Gcneral fund
59,167
10,138
69,305
TOTAL FUNDS
59,167
10,138
69.305
Nel movement in funds, incliided in the abov¢ are as folloivs:
Incomin
r¢sourc¢s
ResOU￿e8
expended
Movcm¢ni
in fiinds
Unrestrlcted funds
General fund
12,728
(2.590)
10,138
TOTAL FUNDS
12,728
(2,590)
10.138
Page 13
coniinued...

TH
MAD
FOUNDATION
NOTFS TO THE FINANCIAL STATEM
NT
FOR THE YEAR END
31 AUG
2024
continued
MOVEMENT IN FUNDS - eontinued
Comparatives for movement In funds
Net
movement
in funds
At 1.9.22
31.8.23
Unre$trlcted funds
General fund
43,343
15,824
59,167
TOTAL FUNDS
43.343
15.824
59.167
Comparative net movcmeni in funds, includcd in Ihe above are as follows..
Incoming
resources
Resources
expcnded
Movcin¢nt
in funds
Unre5trlct¢d funds
General fund
17.515
(1,691)
15,824
TOTAL FUNDS
17,515
(1,691)
15.824
A current ycar 12 months and prior y￿r 12 months ¢ombin¢d position is as follows:
Net
movemeni
in funds
At
31.8.24
Al 1.9.22
Unrestrleted funds
General fund
43.343
25.962
69,305
TOTAL FUNDS
43,343
25,962
69,305
A current year 12 Inonth5 and prior year 12 months combined i)et movement in funds, included in the above are
as follows-
Incoming
resour¢e5
Resources
expciided
Movement
in fvJ)ds
Unrestrlcted funds
Gencrnl fund
30,243
(4.281)
25,962
TOTAL FUNDS
30.243
(4,281)
25,962
Page 14
continued...

THEM
DI
OUNDATION
NOTES TO THE FINANCIAL STA TEMEwfs- contlnued
R THE YEAR
ND
UGUST 2024
RELATED PARTY DISCLOSURES
There were no r¢lated party transactions for the year ended 31 August 2024.
Page 15

HE MADDI FOUN
ION
DETAILED
FOR THE YE
TEME1￿ OF FINANCIAL A
NDED
AU
ou
IVITIES
2024
2023
TNCOME AND ENDOWMENTS
Donatlons and legaele8
Donations
12,728
17,515
Tolal incomlng resources
12,728
17,515
EXPENDITURE
RAislng donatlons and legAcles
Fundraising costs
sUb￿rIptIOns
1,563
37
1,022
85
1,600
1.107
Support costs
Finance
Bank charges
216
216
Informatlon technology
Webs-ilc expensc¥
302
Othcr
Sundries
673
66
Toial resources expended
2,590
1,691
Net Income
10.138
15,824
This page do¢s not form part ofthe slatulory financial statements
Page 16