## **The Guy Foundation Family Trust** 

## **Report and Accounts** 

30 April 2025 

Charity Registration Number 1178782 



## **Contents** 

## **Reports** 

|**Reports**||
|---|---|
|Reference and administrative details of||
|the charity, its trustees and advisors|1|
|Trustees’ report|2|
|Independent auditor’s report|11|
|**Accounts**||
|Statement of financial activities|15|
|Balance sheet|16|
|Statement of cash flows|17|
|Principal accounting policies|19|
|Notes to the accounts|23|



The Guy Foundation Family Trust 



**Trustees’ report** Year ended 30 April 2025 

|**Trustees**|Professor G W Guy (Chairman)|
|---|---|
||R R Brass|
||E J Dixon|
||K M Guy|
||J M Laughton|
||The Rt Hon Lord Waldegrave of North Hill PC|
|**Scientific Advisors**|Professor J D Bell|
||Professor S W Botchway|
||Professor W D Frasch|
||Dr P J Kurian|
|**Management**|R A Bowyer (Treasurer)|
||N V Copping (Programme Director)|
||Professor A V Nunn (Director of Science)|
|**Registered address**|The Estate Office|
||Chedington Court|
||Chedington|
||Beaminster|
||DT8 3HY|
|**Charity registration number**|1178782|
|**Auditor**|Buzzacott Audit LLP|
||130 Wood Street|
||London|
||EC2V 6DL|
|**Principal bankers**|CAF Bank|
||25 Kings Hill Avenue|
||Kings Hill|
||West Malling|
||ME19 4JQ|
||Metro Bank|
||One Southampton Row|
||London|
||WC1B 5HA|
|**Solicitors**|Brabners LLP|
||Horton House|
||Exchange Flags|
||Liverpool|
||L2 3YL|



The Guy Foundation Family Trust **1** 



**Trustees’ report** Year ended 30 April 2025 

The trustees present their report together with the accounts of The Guy Foundation Family Trust (the ‘charity’) for the year ended 30 April 2025. 

The accounts have been prepared in accordance with the accounting policies set out on pages 20 to 23 of the attached accounts and comply with the charity’s constitution, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102). 

## **Charitable objects** 

The objects of the charity, as set out in its trust deed, are to fund or otherwise assist in any exclusively charitable purpose according to the law of England and Wales for the public benefit that the trustees may determine from time to time in their absolute discretion. This reflects the trustees' interest in a variety of charitable projects and their expectation that their philanthropic aims may develop over time. 

The principal aims and activities of the charity are currently focused on the promotion and support of quantum biology: the study of quantum mechanics and thermodynamic effects in biology. The charity seeks to grow the body of scientific knowledge by awarding grants for rigorous research and supporting collaborating research teams. The charity also supports the scientific community by convening and funding meetings and events for scientists from a range of disciplines who have an interest in the field. 

Although quantum biology is bold and exploratory, grants are made to established academic or public institutions with a track record for delivering benefit to the public. These institutions attract leading talent, and the charity works in close collaboration to build synergy and purposeful outcomes. Together with a growing, respected programme of events, activities and engagement, the charity’s ambition is that, over time, the cumulative efforts will generate knowledge that will be used to profoundly improve our understanding of health, which in turn will be utilised in advancing medical practice. 

When setting the aims of the charity, the trustees have complied with their duty under section 17 of the Charities Act 2011 to have regard to the Charity Commission’s guidance on public benefit. The trustees believe they have demonstrated in detail throughout this report the ways in which the charity has been faithful to this guidance. 

The Guy Foundation Family Trust **2** 



**Trustees’ report** Year ended 30 April 2025 

## **Activities and achievements** 

In this, the seventh financial period since the charity was founded in 2018, the trustees furthered the objects by making grants to exclusively charitable projects. Acting in line with their duty to have due regard to guidance on public benefit they awarded grants for scientific research and education. 

**Scientific research** - the charity made very good progress with its research programme: 

- **Research Centre for Optimal Health (RCOH), University of Westminster, London, UK and the Central Laser Facility (CLF), UK Research & Innovation (UKRI), Science and Technology Facilities Council (STFC), Harwell, Oxfordshire, UK** 

The charity’s core research project (Grant 002) commenced in 2019 and continues to build its investigation into quantum biology using biophotons, entangled photons and electromagnetic fields. Following three publications in peer reviewed journals in 2024, the latest findings from the study were presented at the 2[nd] Gordon Research Conference (GRC) on Quantum Biology in Italy in March 2025. The close collaboration between the CLF and RCOH has led to the project being run as a fully integrated programme of work between the two centres, with the CLF as the host institution. Two further grants for developing the research programme were made in the period: £61,000 (June 2024) and £40,643 (March 2025), for additional work on hypomagnetic fields. 

In the period the charity’s funded PhD Student Ifigeneia Kalampouka (Grant 005, £119,675, Sep 2021 – Aug 2024), based at the RCOH, completed her PhD studies on how biophoton emission is related to cellular senescence. Ifigeneia was awarded her PhD and joined the RCOH team as a postdoctoral researcher to work on the charity’s core research project. The work was published in a peer reviewed journal in June 2024 and the latest findings were presented as a verbal presentation at the 2[nd] GRC on Quantum Biology in March 2025. 

The ‘Understanding the mechanism of photonic modulation of metabolism, inflammation and angiogenesis using fluorescent light energy (FLE)’ study (Grant 007, £261,709, April 2024 – June 2026) got underway in the period with the successful recruitment of the postdoctoral researcher and research associate. The project is being led by Professor Jimmy Bell (RCOH), with Professor Stanley Botchway (CLF) and Professor Gregory Scholes (Princeton University) as principal investigators. The Guy Foundation extends its thanks to Picchio International who made a restricted donation to support the project. 

##  **Quantum Biology Laboratory (QBL), Howard University, USA** 

The charity’s research project (Grant 003, US$550,000, Sep 2020 – Jan 2023) ‘Cooperative and coherent quantum phenomena in the life sciences’ was led by Dr Philip Kurian at the QBL, in collaboration with the Ecole Polytechnique Federale de Lausanne (EPFL), Switzerland. The project investigated cooperative quantum phenomena in tubulin protein architectures, which form a significant part of cytoskeletal networks in the brain and throughout the cells of higher organisms. The research study was published in May 2024 in the Journal of Physical Chemistry and has had 69,000 views and 26 citations, garnering a very high attention score. The paper was selected as Editor’s Choice by Science magazine. 

The Guy Foundation Family Trust **3** 



**Trustees’ report** Year ended 30 April 2025 

## **Activities and achievements** (continued) 

##  **Allen Discovery Center at Tufts University, USA** 

The findings of the charity’s first research project with Professor Michael Levin (Grant 004, US$199,589, June 2021 - May 2023) informed ten academic papers on the ways by which biological tissues store information in physiological, not genetic, media, with implications for regenerative medicine and synthetic bioengineering. The project led to a new collaboration with Professor Wayne Frasch (Arizona State University) on a second project: ‘From V- ATPase to Anatomy: understanding the origins of the bioelectric gradients that determine body form and function’ (Grant 006, US$290,778, May 2022 – June 2024). The final report was submitted in July 2024. The study findings have informed several academic papers; the first paper, published in March 2024, has had 60k views and 52 citations. 

##  **Nuffield Department of Women’s & Reproductive Health, University of Oxford, UK** 

In August 2024 the trustees awarded a £30,000 donation to the project ‘Exploring the concept that mitochondrial respiratory chain proteins are found and can function in nonmitochondrial membrane systems’, supervised by Dr Karl Morten at the University of Oxford. 

## **Scientific and education programme** 

The Foundation’s scientific faculty grew from 200 to over 300 members in the year. The faculty is well represented from a range of different disciplines and now spans the globe, with most members based in the UK, Europe and North America. The Foundation convened eleven online scientific symposia with guest speakers on the themes of ‘bioelectricity’ and ‘water’. Proceedings were published on the charity’s website. Video recordings of the talks were uploaded to the charity’s YouTube channel, which now has over 2,100 subscribers. Remarkably since the YouTube channel was launched in summer 2022, the Foundation’s scientific talks have been watched over 73,000 times, for a total duration of 13,000 hours. 

The trustees approved a scientific education award in the period: a donation of US $10,000 for the 2[nd] GRC on Quantum Biology, which was held in Italy in March 2025. The GRC is becoming established as the key in-person meeting for the global quantum biology community and the charity was pleased to sponsor the conference for this second time. Eight members of The Guy Foundation scientific and research teams attended. 

The charity continued to develop its theoretical understanding of quantum biology, with a particular focus on quantum insights into space health, resulting in the publication of a major report ‘The health hazards of space travel: novel insights from quantum biology’ in October 2024 in conjunction with an international working group, and the subsequent appointment of George Freeman MP as Advisor to the Board of Trustees to develop and steer global partnerships on this topic. 

The Guy Foundation Family Trust **4** 



**Trustees’ report** Year ended 30 April 2025 

## **Activities and achievements** (continued) 

The trustees were delighted that the winner of The Guy Foundation 2023 Onion Prize, Dr Nathan Babcock, had his winning entry on revisiting Gurwitsch's onion experiments published as an academic paper in December 2024. The Foundation continued to provide support to the wider scientific community, for example through its Quarterly Review and resources on its website www.theguyfoundation.org. Finally, the Foundation was grateful to its Founder and Chairman Professor Geoffrey Guy, whose book ‘Quantum Biology: A Glimpse into the Future of Medicine’ was published in late 2024, aimed at raising public interest in quantum biology. 

## **Elite sporting competitors** 

The grant for the charity’s elite competitor grant holder K Beardmore (foil fencing) was closed in February 2025, after completion of the 2023/4 fencing season, to allow a full focus on the scientific programme. 

## **Fundraising** 

Whilst the charity does not currently have a formal fundraising programme, donations from interested individuals or organisations are welcomed and make a valuable contribution to our work. 

## **Grant making policy** 

The trustees apply the funds of the charity at their discretion and in accordance with the charitable purposes and objectives of the charity. The charity awards the majority of funds to scientific research with smaller amounts to scientific meetings, education and outreach. Information on the charity’s funding is available on The Guy Foundation website. 

- Research grant proposals are reviewed by the charity’s Director of Science and Programme Director and other peer reviewers as needed; grant decisions are made solely by the trustees. Once grants are awarded, terms and conditions are agreed with the grant holder and host institution. The charity has a rigorous monitoring and reporting process in place, including review of full written quarterly progress reports and regular face to face presentations. 

- Requests for donations, for example to support quantum biology education and outreach activities, are reviewed by the Programme Director with decisions on new awards made solely by the trustees. 

The Guy Foundation Family Trust **5** 



**Trustees’ report** Year ended 30 April 2025 

## **Financial review** 

## _**Results for the year**_ 

A summary of the year’s results can be found on page 16. 

Total income for the year amounted to £646,164 (2024: £277,208). This was derived from a £500,000 donation from the settlors Professor G W Guy and Mrs K M Guy, plus £125,000 Gift Aid, gifts in kind of £5,000, and £16,164 bank interest. 

Expenditure in the year totalled £371,189 (2024: £846,132), all of which was unrestricted expenditure (2024: £261,709 was spent on restricted expenditure). All expenditure was on charitable activities, with no expenditure on raising funds. 

A total of £90,448 (2024: £616,183) grants for scientific research were made during the year: 

- Award of £61,000 for additional work on hypomagnetic fields, as part of Grant 002 hosted by the Central Laser Facility (UKRI-STFC) at the Harwell campus, UK (see page 3). 

- Award of £40,643 to fund the postdoctoral researcher position at the University of Westminster for a further period, as part of Grant 002 hosted by the Central Laser Facility (UKRI-STFC) (see page 3). 

- Less £11,195 on grants that have been completed under budget, with the underspend being written back. 

A total of £37,886 (2024: £12,125) donations for scientific research and education were made during the year: 

- Donation of £30,000 to support a study on mitochondria at the University of Oxford (see page 4). 

- Donation of $10,000 (£7,886) to support the Gordon Research Conference (GRC) on Quantum Biology which took place in March 2025 (see page 4). 

Scientific and education costs totalled £147,373 (2024: £137,177). Support and governance costs were £95,482 (2024: £62,327). 

The increase in funds for the year was £274,795 (2024: decrease of £568,924). 

As at 30 April 2025 the Foundation had cash of £647,209 (2024: £481,286) and total net assets of £142,853 (2024: total net liabilities of £132,122). 

The Guy Foundation Family Trust **6** 



**Trustees’ report** Year ended 30 April 2025 

## _**Reserves policy and going concern statement**_ 

The charity has a reserves policy to ensure that its activities are delivered in the short-term but also sustained in the medium to long-term. As a trust largely funded by unrestricted donations from a single settlor, governed by a trust deed that states income may be accumulated for 21 years, the charity is not bound to disperse its funds within a short timeframe but instead the priority is to protect our long-term ambitions and activities. In order to achieve the objectives, the trustees have determined that the charity’s free reserves, which equate to unrestricted funds, should be a minimum of six months’ operating costs (currently £137k pa), with no upper limit. 

The charity is not an endowment trust. Total net assets at 30 April 2025 were £142,853 (2024: total net liabilities £132,122). Post year end, in May 2025, the charity received an unrestricted donation of US$100,000. The trustees consider that the charity is a going concern. It has adequate funds to cover its commitments and sufficient net assets to be in line with the reserves policy. However, in the coming period the charity will review its funding and determine an income plan. 

## **Future plans** 

The trustees will continue to formulate and revise their future philanthropic plans in line with the grant making policy described above. To the extent projects are successfully delivered by grantees, the trustees may consider developing their existing funding relationships with additional grants, but they may also identify new projects deserving of funding. The amount of future grant funding will be subject to research funding needs, identification of suitable projects and funds available. 

The Guy Foundation Family Trust **7** 



**Trustees’ report** Year ended 30 April 2025 

## **Governance, structure and management** 

## _**Governing document**_ 

The Guy Foundation Family Trust is a charitable trust governed by a trust deed dated 11 January 2018. It is an unincorporated registered charity, Charity Registration Number in England and Wales: 1178782. 

## _**Trustees**_ 

The charity has six trustees as listed on page 1 of the accounts. Per the trust deed there must be at least three charity trustees. 

Professor G W Guy (Chairman), K M Guy and J M Laughton are First Trustees (appointed on 11 January 2018). R R Brass was appointed on 1 October 2018 (second term approved on 14 June 2023), E J Dixon was appointed on 27 June 2019 (second term approved on 12 June 2024), and The Lord Waldegrave of North Hill PC was appointed on 8 June 2021. 

In accordance with the trust deed, First Trustees are entitled to hold their office for life (unless removed by the appointers). Professor G W Guy has the right to, jointly with K M Guy, appoint a new trustee for a term they choose, which can be for life or such other period as they shall agree. Usually the term will be for five years, renewable by mutual consent. New trustees are selected with regard to the knowledge, skill and expertise appropriate for the effective governance of the charity and delivery of the charitable objectives. 

New trustees are appointed in writing and briefed on their legal obligations under charity law and their role and responsibilities as trustees. The charity provides new trustees with a trustee checklist, including the Charity Commission’s guidance on public benefit, trust deed, policy on fit and proper status, related party transactions and conflicts of interest. Trustees are briefed on the decision-making process and the financial status of the charity and invited to attend external training workshops or events. 

The charity has a fit and proper status, related party transactions and conflicts of interest policy and declaration process in place. Declarations of interest is included as a standard item on meeting agendas. Trustees are required to disclose all relevant interests and to withdraw from the decision-making process where a conflict of interest arises. 

The charity has a number of policies in place to guide and support strong governance, including but not limited to the following areas: risk management, reserves, data protection, equality and diversity, complaints, crisis management, anti-bribery and corruption, donations and investments, financial authorisation and expenses. 

Trustees make the charity’s decisions collectively at Board of Trustees meetings or electronically in the interim as needed. The charity has two sub-committees: Nominations Committee (chaired by R R Brass) and the Finance & Audit Committee (chaired by J M Laughton). Each committee reports to the Board of Trustees. 

The charity’s officers, who work on an employee or consultancy basis, undertake the day to day activities of the charity and are closely overseen by the trustees. 

The Guy Foundation Family Trust **8** 



**Trustees’ report** Year ended 30 April 2025 

## **Governance, structure and management** (continued) 

## _**Trustees** (continued)_ 

The charity has a Trustees’ and Directors’ Indemnity policy in place (£1M cover). 

The remuneration policy of the charity, for employees and consultants, is to pay a fair wage that is sufficient to attract and retain skilled, expert and appropriately qualified staff to lead, manage and deliver the charitable activities. Wages are competitive and proportionate to the complexity of each role and the associated range of responsibilities. The charity offers paid holiday and employer’s pension contributions for its employee and does not pay bonuses or performance-related pay. 

All trustees give of their time freely and no trustee was paid remuneration or expenses in the year. 

## _**Statement of trustees’ responsibilities**_ 

The trustees are responsible for preparing the trustees’ report and accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial period which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing the accounts the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102); 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; 

- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the accounts comply with the Charities Act 2011, applicable Charity (Accounts and Reports) Regulations and the provisions of the charity’s constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

The Guy Foundation Family Trust **9** 



**Trustees’ report** Year ended 30 April 2025 

## **Governance, structure and management** (continued) 

## _**Risk management**_ 

In line with the charity’s risk management policy the trustees regularly review and assess the risks facing the charity and update the risk register accordingly. The trustees believe the significant risks to be: 

**Damage to our reputation** - the charity acknowledges that damage to its reputation is a risk, possibly through misunderstanding of the scientific focus or through the conduct of people connected with us. The charity ensures it is well run by maintaining good governance and management practices including: trustee and advisor appointments, induction and engagement, and grant agreements with grant holders. If things were to go wrong, we have a complaints policy and crisis management policy in place and also insurance to mitigate the financial risk to the charity. 

**Operational risk from ineffective grant making** – an operational risk is that grants are ineffective. The trustees mitigate this risk by making grants according to their grant making policy, to fund research at public or academic institutions with a good track record of delivering charitable projects for public benefit, and to work closely with those centres so they can be satisfied that each grant is made in furtherance of a charitable purpose that offers a public benefit. The trustees consider this practice to be an effective means of mitigating this risk. 

**Conflicts of interest** - the trustees recognise the importance of declaring interests and managing any potential conflicts. The charity has a related party transactions and conflicts of interest policy and declaration process in place. Trustees are required to disclose all relevant interests and to withdraw from decision-making where a conflict of interest arises. The trustees actively manage potential conflicts. For instance, the quantum biology community is small and as is common among research charities the most qualified scientists are the natural choices for both advisory roles and for research grant awards. The trustees therefore ensure that the grant-making policy is adhered to at all times with solely the trustees making decisions on grant and donation awards. 

**Cybersecurity threats** - the trustees recognise that cybersecurity risks have continued to grow in the period and the associated loss of data or systems could cause significant operational difficulties, and theft of assets could cause financial losses, both of which would also lead to risks associated with the reputation of the charity. The charity continues to act in line with its IT security measures and reviews them regularly and endeavours to act with vigilance at all times. 

The Guy Foundation Family Trust **10** 



**Trustees’ report** Year ended 30 April 2025 

## **Governance, structure and management** (continued) 

Signed on behalf of the trustees: 


Professor G W Guy 

Chairman and Founder Trustee 

Approved by the trustees on: 14 October 2025 

The Guy Foundation Family Trust **11** 



**Independent auditor’s report** Year ended 30 April 2025 

## **Independent auditor’s report to the trustees of The Guy Foundation Family Trust** 

## **Opinion** 

We have audited the accounts of The Guy Foundation Family Trust (the ‘charity’) for the year ended 30 April 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows, the principal accounting policies and the notes to the accounts. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice). 

In our opinion, the accounts: 

- give a true and fair view of the state of the charity’s affairs as at 30 April 2025 and of its income and expenditure for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Charities Act 2011. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the accounts, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the accounts is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the accounts are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

The Guy Foundation Family Trust **12** 



**Independent auditor’s report** Year ended 30 April 2025 

## **Other information** 

The trustees are responsible for the other information. The other information comprises the information included in the annual report and accounts other than the accounts and our auditor’s report thereon. Our opinion on the accounts does not cover the other information and we do not express any form of assurance conclusion thereon. 

In connection with our audit of the accounts, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the accounts themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report. 

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: 

- the information given in the trustees’ annual report is inconsistent in any material respect with the accounts; or 

- sufficient accounting records have not been kept; or 

- the accounts are not in agreement with the accounting records and returns; or 

- we have not received all the information and explanations we require for our audit. 

## **Responsibilities of trustees** 

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error. 

In preparing the accounts, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 

The Guy Foundation Family Trust **13** 



**Independent auditor’s report** Year ended 30 April 2025 

## **Auditor’s responsibilities for the audit of the accounts** 

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 

Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. 

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

- We obtained an understanding of the legal and regulatory frameworks applicable to the company. We determined that the following laws and regulations were most significant: The Statement of Recommended Practice (SORP (FRS102)). 

- We understood how the charity is complying with these legal and regulatory Frameworks by making enquiries to trustees and those responsible for legal and compliance procedures. Through our enquiries we corroborated these views by our review of Board minutes. 

- We assessed the susceptibility of the charity’s accounts to material misstatement, including how fraud might occur. Audit procedures performed by the audit team included: 

   - Enquiries with the trustees, whether they have any knowledge of any actual, suspected or alleged fraud; 

   - Identifying and testing journal entries. 

   - Assessing the extent of compliance with the relevant laws and regulations as part of our procedures. 

As a result of our procedures, we did not identify any key audit matters relating to irregularities. 

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any. 

The Guy Foundation Family Trust **14** 



**Independent auditor’s report** Year ended 30 April 2025 

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. 

A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. 

## **Use of our report** 

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed. 


Buzzacott Audit LLP, Statutory Auditor 130 Wood Street London EC2V 6DL 

Date: 15 October 2025 

Buzzacott Audit LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006 

The Guy Foundation Family Trust **15** 



## **Statement of financial activities** Year to 30 April 2025 

|Notes|<br>**Unrestricted**<br>**funds**<br>**£**|<br> <br> <br>**Restricted**<br>**funds**<br>**£**<br>**Total**<br>**funds**<br>**2025**<br>**£**|Unrestricted<br>funds<br>£<br>Restricted<br>funds<br>£<br>Total<br>funds<br>2024<br>£|
|---|---|---|---|
|**Income from:**<br>Donations<br>1<br>Bank interest<br>**Total income**<br>**Expenditure on:**<br>Charitable activities<br>2<br>**Total expenditure**<br>**Net income / (expenditure) for the year**<br>**and net movement in funds**<br>5<br>**Total funds brought forward at 1 May**<br>**Total funds carried forward at 30 April**|<br>**630,000**<br>**16,164**|**—**<br>**630,000**<br>**—**<br>**16,164**|5,000<br>261,709<br>266,709<br>10,499<br>—<br>10,499|
||**646,164**|**—**<br>**646,164**|15,499<br>261,709<br>277,208|
||<br>**371,189**|**—**<br>**371,189**|584,423<br>261,709<br>846,132|
||**371,189**|**—**<br>**371,189**|584,423<br>261,709<br>846,132|
||**274,975**<br>**(132,122)**|**—**<br>**274,975**<br>**—**<br>**(132,122)**|(568,924)<br>—<br>(568,924)<br>436,802<br>—<br>436,802|
||**142,853**|**—**<br>**142,853**|(132,122)<br>—<br>(132,122)|



All recognised gains and losses for the year are included in the statement of financial activities. 

The Guy Foundation Family Trust **16** 



**Balance sheet** 30 April 2025 

|Notes|<br>**2025**<br>**£**|**2025**<br>**£**|2024<br>£|2024<br>£|
|---|---|---|---|---|
|**Fixed assets**<br>Tangible fixed assets<br>8<br>**Current assets**<br>Cash at bank and in hand<br>Debtors<br>9<br>**Current liabilities**<br>Creditors: amounts falling due within one<br>year<br>10<br>**Net current assets**<br>**Total assets less current liabilities**<br>**Creditors:**amounts falling due after more<br>than one year<br>11<br>**Total net assets / (liabilities)**<br>**Represented by:**<br>**The funds of the charity**<br>Unrestricted funds / (deficit)<br>12<br>Restricted funds<br>13<br>**Total charity funds / (deficit)**|<br>**647,209**<br> <br>**141**|**—**|481,286<br>130,982|165|
|||**281,148**||165<br>204,045|
||**647,350**<br> <br>**(366,202)**||612,268<br>(408,223)||
||<br> <br>||||
|||**281,148**<br>**(138,295)**||204,210<br>(336,332)|
|||**142,853**||(132,122)|
|||**142,853**<br>**—**||(132,122)<br>_—_|
|||**142,853**||(132,122)|



Approved by the trustees and signed on their behalf by: 


Professor G W Guy 

Chairman and Founder Trustee 

> Approved by the trustees on: 14 October 2025 

The Guy Foundation Family Trust **17** 



**Statement of cash flows** Year to 30 April 2025 

|Notes|<br>**2025**<br>**£**<br>2024<br>£|
|---|---|
|**Cash flows from operating activities**<br>Net cash provided by/(used in) operating activities<br>A<br>**Change in cash and cash equivalents in the year**<br>Bank interest received<br>**Net cash provided by investing activities**<br>Increase / (decrease) in cash and cash equivalents<br>**Cash and cash equivalents brought forward**<br>Cash at bank and in hand<br>**Cash and cash equivalents carried forward**<br>B|<br>**149,759**<br>(358,393)|
||**16,164**<br>10,499|
||**16,164**<br>10,499|
||**165,923**<br>(347,894)<br>**481,286**<br>829,180|
||<br>**647,209**<br>481,286|



## **Notes to the statement of cash flows** 

## **A Reconciliation of net movement in funds to net cash provided by/(used in) operating activities** 

||**2025**<br>**£**<br>2024<br>£|
|---|---|
|**Net movement in funds (as per the statement of financial activities)**<br>**Adjustments:**<br>Depreciation charge<br>Non-cash gifts<br>Non-cash expenditure<br>Bank interest received<br>Decrease / (increase) in debtors<br>(Decrease) / increase in creditors<br>**Net cashprovided by/(used in) operating activities**|**274,975**<br>(568,924)<br>**165**<br>539<br>**(5,000)**<br>(5,000)<br>**5,000**<br>5,000<br>**(16,164)**<br>(10,499)<br>**130,841**<br>(130,866)<br>**(240,058)**<br>351,357|
||**149,759**<br>(358,393)|



## **B Analysis of cash and cash equivalents** 

|**Analysis of cash and cash equivalents**||
|---|---|
||**2025**<br>**£**<br>2024<br>£|
|Cash at bank and in hand<br>**Total cash and cash equivalents**|**647,209**<br>481,286|
||**647,209**<br>481,286|



The Guy Foundation Family Trust **18** 



## **Statement of cash flows** Year to 30 April 2025 

|**C**|**Analysis of changes in net debt**|At 1 May<br>2024<br>£<br>Cash flows<br>£|**At 30 April**<br>**2025**<br>**£**|
|---|---|---|---|
||Cash at bank and in hand<br>**Total cash and cash equivalents**|481,286<br>165,923|**647,209**|
|||481,286<br>165,923|**647,209**|
|||_At 1 May_<br>_2023_<br>_£_<br>_Cash flows_<br>_£_|_At 30 April_<br>_2024_<br>_£_|
||_Cash at bank and in hand_<br>_Total cash and cash equivalents_|_829,180_<br>_(347,894)_|_481,286_|
|||_829,180_<br>_(347,894)_|_481,286_|



The Guy Foundation Family Trust **19** 



**Principal accounting policies** Year ended 30 April 2025 

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below: 

## **Basis of preparation** 

The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. 

These accounts have been prepared for the year to 30 April 2025 and are the seventh set of accounts for the charity. 

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts. 

The charity constitutes a public benefit entity as defined by FRS 102. 

The accounts are presented in sterling and are rounded to the nearest pound. 

## **Critical accounting estimates and areas of judgement** 

Preparation of the accounts requires the trustees to make significant judgements and estimates. 

Other than the allocation of governance and support costs between the various categories of expenditure, there are no items in the accounts where key judgements and estimates have been made. 

## **Assessment of going concern** 

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect to a period of one year from the date of approval of these accounts. 

The charity has sufficient cash to cover the grants committed to and trustees are able to control the costs and level of grants made. The trustees of the charity have assessed that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due. 

The trustees therefore conclude that the Trust remains a going concern for at least 12 months from the date of approval of these financial statements. 

The Guy Foundation Family Trust **20** 



**Principal accounting policies** Year ended 30 April 2025 

## **Income recognition** 

Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably and it is probable that the income will be received. 

The principal source of income is donations, and interest receivable. 

Donations are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period. 

Donated services and facilities provided to the charity are recognised in the period when it is probable that the economic benefits will flow to the charity, provided they can be measured reliably. This is normally when the service is provided/the facilities are used by the charity. An equivalent amount is included as expenditure. Donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain facilities or services of equivalent economic benefit on the open market. 

## **Expenditure recognition** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 

All expenditure is accounted for on an accruals basis. 

Expenditure on charitable activities includes all other costs associated with furthering the charitable purposes of the charity. Such costs include grants made in accordance with the charity’s objects and administration costs. 

Grants payable are included in the statement of financial activities when approved and when the intended recipient has either received funds or been informed of the decision to make the grant and has satisfied all performance conditions. Grants approved but not paid at the end of the financial period are accrued. Grants where the beneficiary has not been informed or has to fulfil performance conditions before the grant is released are not accrued but are disclosed as financial commitments in the notes to the accounts. 

All expenditure is stated inclusive of irrecoverable VAT. 

The Guy Foundation Family Trust **21** 



**Principal accounting policies** Year ended 30 April 2025 

## **Allocation of support and governance costs** 

Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary to provide support including in the form of financial procedures. 

Governance costs comprise the costs involving the public accountability of the charity (including audit costs) and costs in respect to its compliance with regulation and good practice. 

Support and governance costs are apportioned using percentages based on the time spent on each of the activities of the charity. 

## **Tangible Fixed assets** 

All assets costing more than £1,000 are capitalised at historical cost. 

Tangible fixed assets are stated at cost less depreciation. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: 

Computer equipment 33.3% p.a. straight line. 

## **Investments** 

Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. 

The charity does not acquire put options, derivatives or other complex financial instruments. 

Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value is acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise. 

## **Debtors** 

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material. 

## **Cash at bank and in hand** 

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. 

The Guy Foundation Family Trust **22** 



**Principal accounting policies** Year ended 30 April 2025 

## **Creditors and provisions** 

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material. 

## **Fund structure** 

Restricted funds comprise monies raised for, or their use restricted to, a specific purpose, or contributions subject to donor imposed conditions. 

Unrestricted funds comprise those monies which may be used towards meeting the charitable objectives of the charity and which may be applied at the discretion of the trustees. 

## **Foreign currencies** 

Assets and liabilities in foreign currencies are translated into Sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into Sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the net movement in funds. 

The Guy Foundation Family Trust **23** 



## **Notes to the accounts** Year ended 30 April 2025 

## **1 Income from: Donations** 

||**Unrestricted**<br>**funds**<br>**£**|<br> <br>**Restricted**<br>**funds**<br>**£**<br>**Total**<br>**funds**<br>**2025**<br>**£**|<br>Unrestricted<br>funds<br>£<br>Restricted<br>funds<br>£<br>Total<br>funds<br>2024<br>£|
|---|---|---|---|
|Donations from<br>- Trustees (see note 15)<br>- Corporate donors (see<br>note 16)<br>- Gift aid<br>**2025 total funds**|**505,000**<br>**—**<br>**125,000**|<br>**—**<br>**505,000**<br> <br>**—**<br>**—**<br>**—**<br>**125,000**|<br>5,000<br>_—_<br>5,000<br> <br>_—_<br>_—_<br>261,709<br>_—_<br>261,709<br>_—_|
||**630,000**|<br>**—**<br>**630,000**|<br>5,000<br>261,709<br>266,709|



## **2 Expenditure on: Charitable activities** 

||**Unrestricted**<br>**funds**<br>**£**|<br> <br>**Restricted**<br>**funds**<br>**£**<br>**Total**<br>**funds**<br>**2025**<br>**£**|<br>Unrestricted<br>funds<br>£<br>Restricted<br>funds<br>£<br>Total<br>funds<br>2024<br>£|
|---|---|---|---|
|Grants and charitable<br>donations<br>. Grants for scientific<br>research<br>. Donations for scientific<br>education and outreach<br>. Grants for individual<br>sportspeople<br>Scientific and education<br>costs (see note 3)<br>Support and governance<br>costs (see note 4)<br>**2025 total funds**|**90,448**<br>**37,886**<br>**—**<br>**147,373**<br>**95,482**|<br>**—**<br>**90,448**<br> <br>**—**<br>**37,886**<br> <br>**—**<br>**—**<br> <br>**—**<br>**147,373**<br> <br>**—**<br>**95,482**|<br>354,474<br>261,709<br>616,183<br> <br>12,125<br>_—_<br>12,125<br> <br>18,320<br>_—_<br>18,320<br> <br>137,177<br>_—_<br>137,177<br> <br>62,327<br>_—_<br>62,327|
||**371,189**|<br>**—**<br>**371,189**|<br>584,423<br>261,709<br>846,132|



## **3 Scientific and education costs** 

||**Unrestricted**<br>**funds**<br>**£**|<br> <br>**Restricted**<br>**funds**<br>**£**<br>**Total**<br>**funds**<br>**2025**<br>**£**|<br>Unrestricted<br>funds<br>£<br>Restricted<br>funds<br>£<br>Total<br>funds<br>2024<br>£|
|---|---|---|---|
|Conferences and<br>meetings<br>Scientific consultancy<br>Website and publications<br>**2025 total funds**|**7,980**<br>**124,482**<br>**14,911**|<br>**—**<br>**7,980**<br> <br>**—**<br>**124,482**<br> <br>**14,911**|<br>7,573<br>**_—_**<br>7,573<br> <br>116,216<br>**_—_**<br>116,216<br> <br>13,388<br>**_—_**<br>13,388|
||**147,373**|<br>**—**<br>**147,373**|<br>137,177<br>_—_<br>137,177|



## **4 Support and governance costs** 

The allocations are 50% to grant making and 50% to scientific and education. 

|Basis of<br>allocation|Grant<br>making<br>£<br>Scientific<br>and<br>Education<br>£<br>**2025**<br>**£**|
|---|---|
|**Support costs allocated to activities**<br>Administration costs<br>_Time spent_<br>Board advisory<br>_Time spent_<br>Foreign exchange gains<br>_Time spent_<br>Bank charges<br>_Time spent_<br>Office costs<br>_Time spent_<br>Travel and training<br>_Time spent_<br>Governance costs:<br>-<br>Auditor’s remuneration<br>_Time spent_<br>**2025 total funds**|31,533<br>31,533<br>**63,066**<br>8,250<br>8,250<br>**16,500**<br>1,589<br>1,589<br>**3,178**<br>507<br>506<br>**1,013**<br>1,125<br>1,125<br>**2,250**<br>1,239<br>1,240<br>**2,479**<br>3,498<br>3,498<br>**6,996**|
||47,741<br>47,741<br>**95,482**|



The Guy Foundation Family Trust **24** 



**Notes to the accounts** Year ended 30 April 2025 

## **4 Support and governance costs** (continued) 

|**Support and governance costs**(continued)||
|---|---|
|_Basis of_<br>_allocation_|_Grant_<br>_making_<br>_£_<br>_Scientific_<br>_and_<br>_Education_<br>_£_<br>_2024_<br>_£_|
|_Support costs allocated to activities_<br>_Administration costs_<br>_Time spent_<br>_Foreign exchange gains_<br>_Time spent_<br>_Bank charges_<br>_Time spent_<br>_Office costs_<br>_Time spent_<br>_Travel and training_<br>_Time spent_<br>_Governance costs:_<br>_-_<br>_Auditor’s remuneration_<br>_Time spent_<br>_2024 total funds_|_27,504_<br>_27,504_<br>_55,008_<br>_(1,587)_<br>_(1,587)_<br>_(3,174)_<br>_576_<br>_576_<br>_1,152_<br>_1,408_<br>_1,407_<br>_2,815_<br>_83_<br>_83_<br>_166_<br>_3,180_<br>_3,180_<br>_6,360_|
||_31,164_<br>_31,163_<br>_62,327_|



Allocated 50% to grant making and 50% to scientific and education. 

## **5 Net income (expenditure) for the year** 

This is stated after charging: 

||**Unrestricted**<br>**funds**<br>**£**|<br> <br>**Restricted**<br>**funds**<br>**£**<br>**Total**<br>**funds**<br>**2025**<br>**£**|<br>Unrestricted<br>funds<br>£<br>Restricted<br>funds<br>£<br>Total<br>funds<br>2024<br>£|
|---|---|---|---|
|Depreciation – owned<br>assets<br>Auditor’s remuneration<br>(including VAT)<br>. Statutoryaudit fees|**165**<br>**6,996**|<br>**—**<br>**165**<br> <br>**—**<br>**6,996**|<br>539<br>—<br>539<br> <br>6,360<br>—<br>6,360|



## **6 Staff costs** 

The charity has one employee, appointed on 6 April 2021. The total staff costs for 2025 were £50,003 (0.7WTE from 1 January 2025) (2024: £45,075, 0.6WTE). 

## **Number of employees** 

The average monthly number of employees (headcount) during the year was: 

|**2025**<br>**Number**|2024<br>Number|
|---|---|
|Staff<br>**1**|1|



The Guy Foundation Family Trust **25** 



**Notes to the accounts** Year ended 30 April 2025 

## **6 Staff costs** (continued) 

|**Staff costs**(continued)||
|---|---|
|**Employment**|**Total**<br>**funds**<br>**2025**<br>**£**<br>Total<br>funds<br>2024<br>£|
|Wages and salaries<br>Social security costs<br>Total employment costs|**44,582**<br>41,094<br>**5,421**<br>3,981|
||**50,003**<br>45,075|



## **7 Taxation** 

The Guy Foundation Family Trust is a registered charity and, therefore, is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities. 

## **8 Tangible fixed assets** 

||**Computer**|
|---|---|
||**equipment**|
||**£**|
|**Cost**||
|At 1 May 2024|1,647|
|At 30 April 2025|1,647|
|**Depreciation**||
|At 1 May 2024|1,482|
|Charge for the year|165|
|At 30 April 2025|1,647|
|**Net book value**||
|At 30 April 2024|165|
|At 30 April 2025|**—**|



## **9 Debtors** 

|**Debtors**||
|---|---|
||**Total**<br>**funds**<br>**2025**<br>**£**<br>Total<br>funds<br>2024<br>£|
|Debtors<br>Prepayments|**—**<br>130,854<br>**141**<br>128|
||**141**<br>130,982|



## **10 Creditors: amounts falling due within one year** 

|**Creditors: amounts falling due within one year**||
|---|---|
||**Total**<br>**funds**<br>**2025**<br>**£**<br>Total<br>funds<br>2024<br>£|
|Accruals<br>Grant creditors|**6,996**<br>9,510<br>**359,206**<br>398,713|
||**366,202**<br>408,223|



The Guy Foundation Family Trust **26** 



**Notes to the accounts** Year ended 30 April 2025 

## **11 Creditors: amounts falling due after more than one year** 

|**Creditors: amounts falling due after more than one year**||
|---|---|
||**Total**<br>**funds**<br>**2025**<br>**£**<br>Total<br>funds<br>2024<br>£|
|Grant creditors|**138,295**<br>336,332|
||**138,295**<br>336,332|



## **12 Unrestricted funds** 

|**Unrestricted funds**|||||
|---|---|---|---|---|
||At 1 May<br>2024<br>£|Income<br>£|Expenditure<br>£|**At 30 April**<br>**2025**<br>**£**|
|Unrestricted funds|(132,122)<br>(132,122)<br>_At 1 May_<br>_2023_<br>_£_|646,164<br>646,164<br>_Income_<br>_£_|(371,189)<br>(371,189)<br>_Expenditure_<br>_£_|**142,853**|
|||||**142,853**|
|||||_At 30 April_<br>_2024_<br>_£_|
|_Unrestricted funds_|_436,802_<br>_436,802_<br>At 1 May<br>2024<br>£|_15,499_<br>_15,499_<br>Income<br>£|_(584,423)_<br>_(584,423)_<br>Expenditure<br>£|_(132,122)_|
|||||_(132,122)_|
|**Restricted funds**||||**At 30 April**<br>**2025**<br>**£**|
|Restricted funds|_—_<br>_—_<br>_At 1 May_<br>_2023_<br>_£_|_—_<br>_—_<br>_Income_<br>_£_|_—_<br>_—_<br>_Expenditure_<br>_£_|**—**|
|||||**—**|
|||||_At 30 April_<br>_2024_<br>_£_|
|_Restricted funds_|_—_<br>_—_|_261,709_<br>_261,709_|_(261,709)_<br>_(261,709)_|_—_|
|||||_—_|



## **13 Restricted funds** 

The Guy Foundation Family Trust **27** 



**Notes to the accounts** Year ended 30 April 2025 

## **14 Analysis of net assets / liabilities between funds** 

|**2025**|Unrestricted<br>funds<br>£|Restricted<br>funds<br>£|**Total**<br>**funds**<br>**£**|
|---|---|---|---|
|Tangible fixed assets<br>Current assets<br>Current and non-current liabilities<br>Net assets as at 30 April 2025|—<br>647,350<br>(504,497)|—<br>—<br>—|**—**<br>**647,350**<br>**(504,497)**|
||142,853|—|**142,853**|



|_2024_|_Unrestricted_<br>_funds_<br>_£_|_Restricted_<br>_funds_<br>_£_|_Total_<br>_funds_<br>_£_|
|---|---|---|---|
|_Tangible fixed assets_<br>_Current assets_<br>_Current and non-current liabilities_<br>_Net liabilities as at 30 April 2024_|_165_<br>_612,268_<br>_(744,555)_|_—_<br>_—_<br>_—_|_165_<br>_612,268_<br>_(744,555)_|
||_(132,122)_|_—_|_(132,122)_|



## **15 Related party transactions** 

On 25 September 2024, Professor G W Geoffrey and K M Guy made an unrestricted donation of £500,000. In April 2025, the charity received £125,000 Gift Aid that had been claimed in respect of a donation from the settlors in October 2022. 

During the year to 30 April 2025, The Chedington Estate Limited, which is jointly owned by Professor G W Guy and K M Guy, provided support to the charity to the value of £5,000 (2024: £5,000), which has been reflected in the accounts as a gift in kind. 

## **16 Acknowledgements** 

The charity would like to thank Mr Preston Parish for his generous donation of US$100,000 which was received in May 2025. 

We would also like to reiterate our thanks to the late Dr Francesco Bellini (Picchio International), who passed away in June 2024, for his company’s generous donation of £261,709 towards the costs of the FLE Study (Grant 007) in December 2023. The charity teamed the donation with funding and scientific support from The Guy Foundation to run this exciting collaborative project. 

We also thank our Trustees and Scientific Advisors who freely gave their time to give invaluable support to the charity this year. 

The Guy Foundation Family Trust **28**