Docusign Envelope ID." 20AC783A-C667452&BE87-F573DCCBEA9E
CHARITY REGISTRATION NUMBER: 1181904
The RAAIS Foundation
Unaudited financial statements
31 March 2025

Docusign Envelope ID". 20Ac783A-C667452￿8E87-F573DcCBEA9E
The RAAIS Foundation
Financial statements
Year ended 31 March 2025
Page
Trustee's annual report
Independent examinerfs report lo the trustee
Slalement of financial a¢livilies
Balance sheet
Notes lo tho financial slaltrments

Docusign Envelope ID." 20AC783A-C567452&8E87-F573DCCBEA9E
The RAAIS Foundation
Trustee's annual report
Year ended 31 March 2025
The trustee presents his report and the unaudited financial statements of the charity for the year ended
31 March 2025.
The financial statements have been prepared in accordance with the accounting policies sel out in notes lo
the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and
Reporting by Charities.. Statement of Recomrllended Practice applicable lo charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
published in October 2019.
Reference and administrative detai15
Registered charity name
Th& RA41S Foundation
Charlty rogl$lratlon numbor
1181904
Prlnclpal offlco
First Floor SLJite
2 Hillside Business Park
Bury Sl Edmunds
IP32 7EA
Th8 trusts•
The trustees who served during the year and at the date of approval were as follows..
Dr Nathan Benaich
Independent examiner
Abigail Robinson BFP FCA Dcha
Lovewell Blake LLP
Chartered accountants
First Floor Suite
2 Hillside Business Park
Bury Sl Edmunds
IP32 7EA

Docusign Envelope ID." 20AC783A-C567452&8E87-F573DCCBEA9E
The RAAIS Foundation
Trustee's annual report (contlnuedj
Year ended 31 March 2025
Objectives and activities
The Charity's objective is the advancement of education and research in artificial intelligence. The activities
of the Charity are undertaken, wilhoul geographical limitslion, for the benefit of current and future
generations of the general public, students, technologists, and researchers who will use and create new
artificial intelligence knowledge, tools, software, and products lo help accelerate progress across the many
and varied fields in which artificial intelligence is applied in daily life.
Public benefit
In setting objectives and planning activities. due Consideration was given lo guidance published by the
Charity Commission ielating lo public benefit, including Public benefit.. running a charity IPB21.
Thg Trustees ¢onfim that they havg ¢omplied with thg duly in se¢tion 4 of th8 Charities Act 2011.
Achlevomants and p8rfomiance
In achieving this objective, the CIO aims lo increase the availability of a¢¢essible education in this field to
the wider community, helping the public to understand the methods, benefits and potential conSequen￿S of
the InC￿asing use of artificial intelligen¢e in daily life, as well as aid the development of ¢apabilities,
wmpeten¢ies, and skills of individuals especially those who have limited or no opportunity to participate
and encourage greater communily participation always without remunerative motives.
Among other ways, the foundation will seek to further this object by..
issuing research and project grants lo individuals or groups who intend to, or are in the process of,
creating new knowledge and open source resources in artificial intelligence for the greater benefit and
welfare of society in areas such as education and healthcare, but do not have the financial resources to
do so independently.,
promoting recent developments, stimulating discussion and exchanging of information, about artificial
intelligence, by hosting non-profit making events such as the research and applied artificial intelligence
summit IRAAISI and london.ai, which bring together interested members of the general public,
academics, students and thinkers lo learn about artificial intelligence. The events facililale opportunities
lo engage in educational programmes le.g. internships, research collaboralionsl in academia and
industry and provide educational resources on Youlubel such as speaker lectures and accessible
knowledge workshops and on the web generally- and
publishing content that provides the general public with a structured arrangement of introductory
resources and information in relation to artificial intelligence (such as the free-tO-a¢¢ess state of Al
report 2018. which is a comprehensive and accessible guide to artificial intelligence research, industry
applications, talent and national implieationsl.
Maln achlevaments of thè charlty
During the year and in line with its charitable objective of advancing education and research in artrficial
intelligence, the Charity delivered its principal aclivity during the reporting period through the organisation of
the 8th annual Research and Applied Al Summit IRAAISI, which served as the Charity's annual ftjndraising
event.
The Summit brought together eight expert speakers from leading organisations and institutions across the
United Kingdom, the United States, Canada, and France. The programme was designed to disseminate
recent advances in artificial intelligence research and applied practice, providing attendees with slruclured
exposure to both theoretical developrnents and real-worfd applications.
Approximately 200 individuals allended the event, including students, researchers, lechnologisls, and
professionals from startups and established organisations. This diverse audience supported the Charity's
objective of broadening access to high-quality educational content in artificial intelligence across different
levels of experience and socioeconorNic backgrounds.

Docusign Envelope ID." 20AC783A-C567452&8E87-F573DCCBEA9E
The RAAIS Foundation
Trustee's annual report (contlnuedj
Year ended 31 March 2025
The Summit provided opportunities for attendees to leam about state-of-the-art developments in artificial
intelligence, to engage directly with leading practitioners, and lo access information about career, grant, and
employment DPPOrtunilies that may otherwise have been less accessible.
The educational benefit delivered by the Summit was assessed through posl-evenl participant feedback.
Quanlitalive survey results indicated a high level of satisfaction among both allendees and speakers. The
event achieved a Nel Promoter Score of 91 out of 100 from attendees and 90 out of 100 from speakers.
Attendees reported that the Summit mel their expectslions to a high degree. with an average score of 4.4
out of 5, while speakers reported an average score of 4.5 out of 5.
Qualitative f&edba¢k further indicated that participants valued the quality of th& speaktrrs, the depth of
discussion, and the opportunity lo engage dirtrclly with leading r&sear¢hers and practitioners in an
accessiblg setting. Participants also highlighted thè value of networking and knowledge-sharing facilitated
by the evènt, particulady th8 opportunity to angagè aeross diffèr8nt18vèls of expériènc8 and organisational
background.
The Charity's annual fundraising event was structured and delivered so as lo provide educational benefit
by..
Disseminating up-to4ate research and applied knowledge in a￿ricIal intelligence
Increasing access to expert insight for individuals who may otherwise have limited exposure to leading
practitioners in the field
Facilitating professional development through exposure to career, grant, and employment opportunities
Encouraging collaboration and knowledge-sharing across different levels of experience and
sttioeconomic backgrounds
Through these activities, the Charity advanced education and research in artificial intelligence by increasing
understanding of current developments, improving access to expert insight, and encouraging engagement
across the artificial intelligence community. All activities were delivered on a non-profit basis and solely in
furtherance of the Charity's charitable objects.
Fin8n¢i81 review
The RAAIS Foundation generated income of £95,10912024.. £32,426) during the reporting period. Income
was derived principally from the Charitls annual fundraising event, the Research and Applied Al Summit
IRA41SI.
Total expenditure for the period amounted to £39,93512024.. £9.4071. Expenditure related primarily to Costs
incurred in the delivery of the Charity's activities and to administrative expenses necessary for the effective
operation of the Charity.
At the year end, all funds were held in current or savings accounts and the cash balan￿ rose to £149,825
12024.. £98,859).
Rosarvos pollcy
The foundation has no outstanding commilments or cash demands which are not adequately covered by
existing resources. The nel assets of the charity are regarded as free reserves and the funds at 31 March
2025 will be retained to make grants in accordance with the foundation's charitable objects.
The trustee considers that freely expendable funds are appropriate and adequate taking into account plans
for grants lo be awarded in the future and have therefore not yel designated a specific reserves policy.
However, the trustee will keep this under constant review. In future years a specific reserves policy may be
adopted.

Docusign Envelope ID." 20AC783A-C567452&8E87-F573DCCBEA9E
The RAAIS Foundation
Trustee's annual report (contlnuedj
Year ended 31 March 2025
Plans for future periods
The trustee does not propose to deviate from the current objectives and activities of the charity as detailed
above and will further develop and refine his slralegies, pM)licies and procedures for the future.
The Charity intends to continue advancing ils charitable objectives in the coming year through the delivery
of educational and research-focused aclivilie5 in artificial intelligence.
The next iteration of the Charity's annual fundraising event, the Research and Applied Al Summit, is
scheduled to lake place in London on 13 June 202519th edilionl.
In addition, the Charity has relaunched ils RAAIS Fellowship programmes, aimed at supporting ambitious
open-source artificial intelligence projects and fostering innovation for public benefit.
Thg Charity has sufficient resources lo pursue those plans whilo maintsining financial suslainabilily.
Structure, govarnance and managament
Constltutlon
The RAAIS Foundation I'the Charity") is a Charitable Incorporated Organisation registered in England and
Wales with Charity Number 1181904 under a CIO constitution, established on 6 February 2019. The
registered address of the Charity is First Floor Suite, 2 Hillside Business Parf(, Bury St Edmunds, IP32 7EA.
Trustee and methods of appointment or election of trustee
Dr Nathan Benaich served as the sole trustee of the Charity throughout the reporting period and was
responsible for the governance and strategic direction of the Charity.
The management of the charity is the responsibility of the trustee who is elected and co-opted under the
terms of the CIO constitution.
Internal controls
The trustee has over811 responsibility for ensuring th81 the charty has appropriate systems of internal
controls. He is responsible for keeping proper 8¢¢ounting re￿r￿S which disclose with re8son8bl& 8ccur8Cy
al any lime the financial posrfcion of the charity 8nd enable him to ensu￿ Ih8t the fin8n¢ial $18tements follow
best pr8¢1ice and all 8ppIic8ble laws, regulations 8nd guidance. The Iruslee is also responsible for
safeguarding the Charity's assets and for taking reasonable steps for the prevention and detection of fraud
and other irregularities.
Tho system of internal controls is designed lo provide reasonable, bul not absolute, assurance against
material misslalem&nl or loss.
The trustee confirms that the Charity has complied with its governing docLJment and with the requirements
of charity law. The CIO governing document is available on the Charity Commission register..
htlps.'register-of-charities.charitycommission.gov.uklenlcharity-searchl-Icharity-details151269241governing-d
ocument
Financial risk management
A risk assessment has been undertaken which comprises of..
an annual review of the risks the charity may face..
the establishment of systems and procedures lo mitigate those risks.. and
the implementation of procedures designed to minimise any potential impact on the charity should
those risks materialise.
The continuing prO￿sS will identify risk areas to which the charity is vulnerable and highlight any necessary
safeguards that will need lo be put in place. No major risks were identified al the dale of these financial
statements.

Docusign Envelope ID." 20AC783A-C567452&8E87-F573DCCBEA9E
The RAAIS Foundation
Trustee's annual report (contlnuedj
Year ended 31 March 2025
The trustee has assessed the major risks to which the charity is extx)sed, in particular those related to the
operations and finances of the charity, and is satisfied that systems and procedures are in place to mitigate
exposure to the major risks.
The trustee's annual report was approved on
Iruslees by..
231112026
and signed on behalf of the board of
Dr Nathan Benaich
Trustee

Docusign Envelope ID." 20AC783A-C567452&8E87-F573DCCBEA9E
The RAAIS Foundation
Independent examiner's report to the trustee of The RAAIS Foundation
Year ended 31 March 2025
I report to the charity trustee on my examination of the financial statements of the charity for the year ended
31 March 2025 which comprise the statement of financial activities, balance sheet and the related notes.
Responsibilities and basis of report
As the charity's trustee you are responsible for the preparation of the financial stslemenls in accordance
with the requirements of the Charities Act 2011 I'lhe A¢t'l.
I report in respect of my examination of the charity's financial slalements carried out under section 145 of
the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity
Commission under section 14515llbl of the Act.
Independent examinerfs statement
I have eomplatèd my examination. I confirm that no matèrial matters havè comè to my attsntion in
connèction with th8 8xamination giving m8 causè to believe that in any matèrial r8SPèCt'.
accounting records were not kept in respect of the charity as required by section 130 of the Act.,
or
the financial statements do not accord with those records,. or
Ihe financial statements do not comply wilh the applicable requirements concerning the form and
content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than
any requirement that the accounts give a 'true and fair, view which is not a matter considered as
part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order lo enable a proper understanding of the accounts to be
reached.
Your attention is drawn lo the fact that the Charity has prepared the accounts (financial slatementsl in
accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities.. Statement of
Recommended Practice issued on 1 April 2005 which is referred lo in the exlanl regulations bul has since
been withdrawn.
l understand that this h8s been done in order for the accounts to provide a true and f8ir view in accordance
with the Generally Accepted Accounting Pra¢ti¢e effective for reporting periods beginning on or after 1
January 2015.
Abigail Robinson BFP FCA Dcha
Independent Examiner
Lovewell Blake LLP
Chartered accountants
First Floor Suite
2 Hillside Business Park
Bury Sl Edmunds
IP32 7EA
231112026

Docusign Envelope ID." 20AC783A-C567452&8E87-F573DCCBEA9E
The RAAIS Foundation
Statement of financial activities
Year ended 31 March 2025
2025
Unrestricted
funds Total funds
2024
Total funds
Note
Income and endowments
Donations and legacies
Charitable activities
1,491
93,618
1,491
93,618
54
32,372
Total income
95,109
95,109
32,426
Expenditure
Charitable activities
39,935
39,935
9,407
Total ¢xpenditur¢
39,935
39,935
9,407
Net In¢ome and net movement In funds
55,174
55,174
23,019
Re¢on¢lllatlon of funds
Total funds brought forward
Total funds carried foThYard
90,566
90,566
67,547
145,740
145,740
90,566
The stalemenl of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 9 to 12 form part of these financial statements.

Docusign Envelope ID." 20AC783A-C567452&8E87-F573DCCBEA9E
The RAAIS Foundation
Balance sheet
31 March 2025
2025
2024
Note
Current assets
Debtors
Cash al t)ank and in hand
115
149,825
107
98,859
149,940
98,966
Creditors- Amounts falling due within
one year
14,2001
18,4001
Net ¢urrent assets
145,740
90,566
Total assets less current liabilities
145,740
90,566
Nèt assèts
145,740
90,566
Funds of the charlty
Unrestricted ftjnds
145,740
90,566
Total ¢harlty funds
10
145,740
90,566
Th
se financial siaternents were approved by the board of trustees and authorised for issue on
Pii2026
and are signed on behalf of the board by..
Dr Nathan Benaich
Trustee
The notes on pages 9 to 12 form part of these financial statements.

Docusign Envelope ID." 20AC783A-C567452&8E87-F573DCCBEA9E
The RAAIS Foundation
Notes to the financial statements
Year ended 31 March 2025
General information
The charity is a public benefit entity and a registered charity in England and Wales and is
unincorporated. The address of the principal office is First Floor Suite, 2 Hillside Business Park, Bury
Sl Edmunds, IP32 7EA.
Statsment of compliance
The charity conslilules a public benefit entity as defined by FRS 102. The financial stslemenls have
been prepared in accordance with Accounting and Reporting by Charities.. Slalemenl of
Recommended Practi￿ applicable lo charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the
Charities Act 2011 and UK Generally Ac¢eptod Accounting Pra¢li¢e.
Aceountlng pollcl8s
Ba$ls of preparatlon
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency ol the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fund accounting
Unreslricled funds are available for use al the discretion of the Iruslees lo further any of the charity's
purposes.
Designated funds are unreslrided funds earmarked by the trustee for particular future project or
commitment.
Restricted funds are subjected lo restrictions on their expenditure declared by the donor or through
the temis of an appeal and fall into one of two S￿￿¢18s5eS.' reslricled income funds or endowment
funds.
In¢ome
All income is included in the statement of financial activities when entitlement has passed to the
charity, it is probable that the economic benefits associated with the transaction will flow to the charity
and the amount can be reliably measured. The following specific policies are applied to particular
categoriès of in¢ome'.
income from donations or grants is recognised when there is evidence of entitlement to the gift,
receipt is probable and its amount can be measured reliably.
income from contracts for the supply of seNices is recognised with the delivery of the contracted
service. This is classified as unrestricted funds unless there is a contractual requirement for il lo
be spent on a particular purpose and returned if unspent, in which case it may be regarded as
restricted.

Docusign Envelope ID." 20AC783A-C567452&8E87-F573DCCBEA9E
The RAAIS Foundation
Notes to the financial statements fconrfnuedj
Year ended 31 March 2025
Accounting policies (contlnuedj
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT
which cannot be fully recovered, and is classified under headings of the statement of financial
a¢tivilies lo which il relates..
expenditure on charitable activith.es includes all costs incurred by a charity in undertaking activities
that further ils charitable airlls for the benefit of ils beneficiaries, including those support costs and
costs relating lo the governance of the charity apportioned to Charitable aclivilies.
l Costs are allocated to expenditure caltrgories reflecting the use of Ihtr resourc&. Direct costs
allribulabltr lo a single a¢tivity are allo¢altrd dirtr¢lly to that a¢livily. Shared ¢osls are apprortioned
betwaén thè a¢livitiès thèy contribut& to on a roasonablè, justifiabla and ¢onsist8nt basis.
Flnanclal Instrumènts
A financial asset or a financial liability is recognised only when the enlily becomes a party lo the
contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any
related transaction cosis, unless the arrangement consb'tutes a finanang transaction, where it is
recognised at the present value of the future payments discounted at a market rate of inlerest for a
similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration
expected to be paid or received and not discounted.
Donations and legacies
un￿strICted Total Funds Unrestricted Total Funds
Funds
2025
Funds
2024
Donations
Donations
1,491
1,491
54
54
Charitable activities
Unreslricled Total Funds Unrestricted Total Funds
Funds
2025
Funds
2024
Income from charitsble activities
93,618
93,618
32,372
32,372
10

Docusign Envelope ID." 20AC783A-C567452&8E87-F573DCCBEA9E
The RAAIS Foundation
Notes to the financial statements fcontlnuedj
Year ended 31 March 2025
Expenditure on charitable activities by fund
Unreslricled Total Funds Unrestricted Total Funds
Funds
2025
Funds
2024
Independent examination fees
Loss on foreign exchange
Website costs
Room hire costs
Bank fees and charges
Other adminislralion charges
2,700
252
581
35,612
47
743
2,700
252
581
35,612
47
743
8,700
218
489
8,700
218
489
39,935
39,935
9,407
9,407
Trustee remuneratlon and expenses
No trustees received any remuneration or reimbursed expenses during this or the prior year.
Debtors
2025
2024
Prepayments and accrued income
115
107
Creditors: Amounts falling due within one year
2025
2024
Accruals and deferred income
4,200
8,400
10. Analysis of charitable funds
Year ended 31 March 2025
Unrestricted funds
At 31 Mar
2025
At 1 Apr 2024
Income Expenditure
Transfers
General funds
9Q,566
95,109
139,9351
145,740
Year endod 31 March 2024
Unro$trl¢ted fund$
At 31 Mar
2024
At 1 Apr 2023
Income Expenditure
Transfers
General funds
67,547
32,426
19,4071
90,566
11

Docusign Envelope ID." 20AC783A-C567452&8E87-F573DCCBEA9E
The RAAIS Foundation
Notes to the financial statements fcontlnuedj
Year ended 31 March 2025
11. Analysis of net assets between funds
Unreslricled Total Funds
Funds
2025
Current assets
Creditors less than 1 year
Net assets
149,940
14,2001
145,740
149,940
14,2001
145,740
Unrestricted Total Funds
Funds
2024
Current assets
Creditors less than 1 year
Net a$sots
98,966
18,4001
90,566
98,966
18,4001
90,566
12. Relatod partle$
There were no related paty transactions in this or the prior year.
12