VknJaWn*wo Rd.46GF.TfM39X 28S•pa)2$152621W ¢UTC *lJOVJP 1rJJ Charlty regl$tr•Uon number 1183041 Company reglstratlon number 11810240 (England and W•l¢s) THE JIM RATCLIFFE FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 *AEC6vfwA* 3010912025 COMPANIES HOUSE viJJ415bj￿bj•Trdr￿Ath knl. dW.TW￿l•soP 15..￿1985T1UTc4l1D IrJp2rLo THE JIM RATCLIFFE FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees JGww J Clffton S Pthvtsnd IApwint•d 12 Mard¥ 2024} Charfty number 1183641 Company nwnber 11810240 Reglstered offlce Chapel Lane Lyndhur5t HarTpshirn S043 7FG Audltor Bulman Hous• NE3 3LS Bankers Barthys plc I Chulthill Place United KIr￿th E14 5HP Vu)JalSiJNI￿ TrMsath) R￿. 4W.YW39J226S•p2025 1S."3&"298STIIITC*1)D 10P W) THE JIM RATCLIFFE FOUNDATION CONTENTS Page Trust•è8' r•p¢xt Inthp•tht authlorfs r•port Stat¢m¢nt ol finantsd xbvil 8a[a￿0 shwl ststèrn￿t d¢ash 10 Notes to th¢ fmancial staternents 11-17 t4tsynBlwe Rel. I￿.To￿3*)22$ Sryp2025 1SN"290STIIJTC*110 1np•ra* THE JIM RATCLIFFE FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 Th• trust••s pr¢s•nt Ih•ir •rLfAMI r•wt and fmrKial stat*nwts &¥ tho y••r 31 2024. fthiancial stat•m•nts and comply th• charivs go¥efrring docthi•nt. thè Cu))pani•s Act 2008 and "Attounting and Roportirt9 by Char￿È$. Ststèmènt of R•commrtd•d PraciKe apFltc4ble ts dwrtti•s FwépariNJ thw"r a¢counts in ac¢oTdance with the Financial Reporting St￿j￿rd apF4iubt• in the UK ar#J Rep￿1￿ of lrnland (FRS 102)" l•hctr¥• 1 January 2019). ObJe¢tlve$ and acllvStles Thè Found•lion's Charitab￿ puryM•s ar• s•t ￿￿n￿9 dcKun8nt •* foltokns: To advanc¢ such tharilabfe purp)seg1occwdirvJ to th• W of Englar￿ and Walos) ag th• tNst•o$ s•• fft from tim• to time indud￿g but wthoul •xclusI￿￿. . promotirt9 for th¢ publi¢ bon•fft th• 5xostyvakn. tJKI prot¢ditsn of the physical and natural •nvironmen( . odvancing education for the pubh"c benefit in Ihe cortservation. prot•ction and Impr0￿Ment of the physical and natural er*virorffi￿n1 by womtirvj the sbJdy and r•s•arch of th• abov• provMl8d that th• Us￿1 r•*Ats arè disseminatèd to th• at larg•'. . rèlièving p¢)vtty and imwoviw thè of gocialy and economically dI￿￿¥•￿tag•d c¢)mmLtnth"es,' and ' promting amateur spo Th• tvust•ès ha￿ paid du• f•9•￿ to issued by Ch*ity Cornn￿$s￿ tht •divitiÈs th? ¢hJrity str￿￿1￿ uwbjertakg. The Foundalicfft opgrn1￿ as ? gronl wrwker. Thg F¢xmdation's grant making policy i% d•sigMd to •naL49 th0 Fo￿datiOn to furth•r its tharitablg pwposgs foT lh• puwic b•n•frt. Tr trust••s rnw•w grant making policy on r•gular basis to •nsur• that it r•fbxts ts FtXYtdalh)n's Pury￿. At this stsp. th• Fouthtion dves rK* invito uns0li¢*od grant applicaiw5. Achlevements and Mormance kn 2024 the FouThJab"vn a m¥ten"al gr•* ts1£20.iXO,IJ(X) ts) th• Uiy¥•isity of Oxfrld. Flnanclal fevlew The Foundat¢on É¥ supported by donations from ts I￿nder. Sir JTh RaId1￿. Durir#J thè y•ar. Sw Jwn Ratdiff• generously made donathxs totallirs £500.￿O12023: £3CKl.C￿l to thè Four¥Jation. Golng Concern Tho F¢yJndation has a stroTrJ balance sheet al Ihe yew end wilh cash balancés of £8.222.97112023: £21,982.038>. and net ass•ts of £S.978.739 {2023: £25.148.742}. Th• Foundation ha5 limit•d cor• costs and Iwbilili•s with th• maln •xp•ndthr• relating to giants awarded lo thwd party organisations. Grants ar• only awarded vther• fvnds arè avadab￿ and so no grant wouk4 bè givÈn il it riskèd the $ustainabilty of thè FO￿datiOn. Cffi that ba&s. th• trustees remain cryffident th* as a grant ￿￿kIng charity there are no Lncertaintie5 cast sigrfft* d¢)ubt ¢)n the Foundatb)n's ablity to continu• as a going conc•m. ReseThes pollcy The Trustees aim to rnaN*a￿ free reseryes n Ur￿trICted r•s•ms at a l•vd allows to r•adly idèntify and mako grant awards to benèfici￿0$ in line vthh thè tharitablè objècts. Thè lèvd of rès•Tvas at th¢ y¢¥ end arnounl¢d to £5,978,739 12023: £25,148.742). Tho Intst•es contmUO to adively Nlentfy aryj assess potential opportunities. ￿￿**k5p3r￿Urfy TIrw8￿0*R*t 46GF.I061.39X26 Ss?2Q25 1$26."29B5TIUTC +1)D Itsp￿• THE JIM RATCLIFFE FOUNDATION TRUSTEES. REPORT {INCLUDJNG DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Rlsk Management Thè trustaes r•gulady considw the major risks to vthich thg FoUndat￿)n m¢ght b• ew8d at trustw m•&tings. Th• trustges are in proc8ss of rgwiewng thos• risks in c¥dor to establish proper protocols and proc•duT•S to manag• . th090 risks. Plans for future perlods Th FouThJation wll ¢onliNe to mak• grarts in gccordance with ils stratw and (**ièctwes. as w•1 as seekntVJ to id8ntfy olh•r Pff4ects suitabl• fcf pnt fiAing by the FouThlalion. Structure* govemance and management Th• FoundatK)n is formed as a charita￿• ¢￿anY l¥nited by guarath. It is govemed by ts Artid•s ofAssocialion. The Foundalion incorpNated at Cornpanies How <*1 6 F•bnJ¥y 2019 and rn9iSt•md with th* Charity Commissi¢)n for England arka Walgs on 29 May 2019. Thfr trustees. who are a150 the diredors lor the PUWPC15e of conyany law. Ind wlK> seNod durir•J the year and up to the date of Signature of the finarKial slatemenls ￿Te. J Ginns J Clifttin S MoTland ALI(iennan {App￿nted 12 Maw¢h 20241 Tho ptrw•r to appoint INSte￿ silswlh th• m•mb8fs ofth• FwThJalien. The F¢)undation th>¢$ not have any slaff. statement oi irustees. Tesponslbllwtes Thg trustees, vtho ar• also Ihe ditedths af Thè Jwn R•tdrfe F(xmthli¢￿ for th• pwposg of law. responsible for preparing the Twstees. ReF￿ and thè f#*nc￿l statements in •ct*Jrdance wilh appfKable law •nd United Kingdom Accounty"ng Standards IUnTigJ KI￿d(￿n GeneraltyAccepled Accounty"ng Practice). Compafty Law r•qur•s th• Irustèes to prepar• stattmènts for •ach financial y•arwh￿h ar#1 fair v*w of t￿ statè of affairs tsf thè charity and of thè incoming rèsourtss •rwJ èpplutitin of rèsourtès, including thè 4)come and exppndlwo. of the charitable In pr•pariThJ th•s• financial stat•M•ft￿ th• InJsl••s ar• T•r•irnd kn.. . #elect suilable acuuntir4J Wi¢ie$ end lkn •Wy trwm cts)siste*. . mtske pjd9eM￿ts •nd eslvnates I1￿ We Teasc*wbb •nd pwdtnt •nd . prep¥* th• finarKial siat•mwbts on goirwj conc•m unless k is inapwowiat• 19 pr95wYw thjt thg th4rity v*ill continue in opèratic￿. Th• trust••s are responsi￿• for kwpyng adequate accountr￿ r•cords that di￿lOSe NNilh r•asonabk• accuracy at any time ihe financial p05iti¢)n of the chatity arKI trtab￿ them to ensure that thè fin4wal stslements co¥Wy with ths Companies Ad 2CQ6. Thgy ar• also resw%blg for 5afoguarding the assets ol thg charity and honco for lakw The Iwstees are responsible for ts mainlenance aThJ inwity of the charity and financial informat￿ induded c tho tharitys w•bsitè. Legislation in thè Unitsd Kth￿0M govorruThJ ts prq>aralron dissgmination of fina￿1•1 statements may differ from legy61ab.on in other1￿$dictiOnS. Vtrty*SvwotwoTThnsxlltsi IW. 46GF.TC6W•X 15J629 B5TIUfC*11D 1rJpv THE JIM RATCLIFFE FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Audltor In accordanco with the ccrfnpan￿$ art￿￿$. a resolulim that Audit S•rvic•s b• r•appoint•d as •uditor of thè v)mpany wll be put at a G•n•rd M••ting. Dlsclosure of Informatlon to audftor Eath of the tnJste¢s has c4nfiTmed that therè is ol wthich they we aware vthith is relevant to I audit. but of which the audrtor is unaware. They have futh•r confirmd that th•y ha￿ tak•n •pprowi•t• st•ps to *J•ntfy such ￿￿vant inf0M￿tion and to ostsblish that th• auditor is a￿r# of such inforn)alion. Tho Iru$t8eS' fep)rt was •H)rov￿ bythè Bottrd ofTntst•ts. S MtrYlMs( S Morfand Trusiee 26 Seplembw 2025 -.) Pcl 4f.<¥ TE£.H ?S=2lb ZC'S lo￿.2985T1￿Tc•1)D...fjp7. THE JIM RATCLIFFE FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE JIM RATCLIFFE FOUNDATION Qplnlon W¢ havè auditèd th• finanual statements of Thè Jim Ratdrfte F¢)undatKfi (thè 'tharity'l for thè yèar •rth 31 D•cember 2024 vthith ￿MprIse the stat•mert ol fnancial acti￿"b"e5. Ihe b￿ance sh•el, th? statement of cash flry and not8s lo the financial stat•m•nls. ind￿ling s￿nIf￿an1 accountr.ng polici￿. Th• financial i•porting fram•wo that has bèèn appli8d in thew pr•paration is •thicèbl• lth¥ and Unrted Krodom Accounting Star*dards. induding Financial Reporting Starbsard 102 The Fina￿￿1 Re￿01)ng Standard apPI￿a&1? in Ihe UK and Republic ol Ir￿and (United Kingdom Ger￿al￿ACc•Pt•d kttyjnling Practic•). In opinton. th• fimncial stat•m•nts: giv• a true and fair vi•w of the stat• of th• Charits￿o convan￿¥ affairs as at 31 D•cember 2024 arKI of its incoming rtsourc•s ard apF4icabon of resw¢ts. indudro its inconw exp¢nditur•. ft* th• y•ar than ended.. hav• b••n prnpety pr•par•d in •t¢th•Y*è T#￿ Unit•d Krffjdom GonÈrnlly Atceptad Act￿lIng Praclic•: and Bjsls lor oplnlon W• conducted our audit ￿ a¢c4xdanc• Irthn*itNI Standards on A￿111￿9 {UKI IISAS {UK)) and gpplicabl• law. Our responsi￿liti￿S ￿dar thos• Stsrths are further descwiW in th• Auditoks rèspon￿￿1￿185 for the audit of Ihe fina￿￿￿1 itatements sèdion of our r•wl. We are indeF￿dÈnt of th• thority in accordancg wlh thg ethi¢al requirements that arè relevant to our audrt of the stattmtnts in the UK. indLbJing the FRC'S Ethital Standard. arKI w• hav• fulfill•d our otr*r èthKal rgsp)nsbilili•s n acc¢xdarsc* wih thesg rnqLllremen￿ W• ￿11•¥9 that tha audit •TrAd•nc• w• hav• otrkn¢ned 15 sufficiènt and app¥opriat• to Provth a basis for our opin￿n. Concluslons relatlng to golng concern In audthng lh• fmanaal statements. w• hav• cOrKlU￿ that th• tnj9t•￿. us• of th• goirs conc•rn basi5 of Basod on the %wrk wg have pwtorm•d. have not vJgntrf*d any Matw￿l uncertainties relaling to events or Cond￿On$ Ihat. Individu￿}Y OT cojlectwty. may casl s¥Jnifican¢ on th• tharity's abilty to continue ag a going cth)c•m for a period of at lèast ￿￿1Ve ￿¥￿1$ tha fnancial statements aUlh￿l$•d for issu•. Our rnsponsibilitios thg resportsbilili•s trust￿ with re5ped ta wng c￿c•M w• d•gcnlJ•d in th• r•hvant s•ctions of this rep￿￿ Other Inlormatton Th• otr￿r infomwtion wrises the infomiation ￿d￿￿ed in tr• annual rewt other than th• financial statem•nts d our auditorfs r8POrt ther•on. Th• trust•ès arè rèsponsiblè for the other inf0rnat￿ con1alr￿d wilhin th• annual report. Our opinion fintinc1￿ ststemgnts th)95 r￿1 ￿¥•r th• oth•r infO￿a￿"on and, except lo thg oxtgnt 0th8Tr¥is• oxpliuty stated in our rep)rt w• do Tr)t •xpr•ss wy f0rn7 of assurarK• conclusion theroon. Our responsibilty is to read the other infommticn and. in doing so. consider ￿ther th¢ othw infumation is matèrialty inconsist•nt with th• financial slal•m8nts or knovAt&¥ obtainèd in thè cwtse of Iho •udii or othèmsè ap￿9[$ to bo matgrially mi55tsted. If we idenbfy such material inconsistenci95 or apparent malerial mi5Statements. we are r•quir•d to d•t•miine whether this givès ris8 to a material misstatement in thè financbal slatèm￿tS t￿M$•IV•s. If. bas•d on th8 work w• havè p8rformed, we (￿d￿d0 that thèro is a mat•rid misststement of thig other infornialion, w• arè rnquir4d to r•wt that f W• h8¥• noth*w to r•port ￿ this r•gard. Oplnlons on other mattefs prescrlbed by the Companles Act 2006 In our opinion. based on Ihe wr*k urhJertak•n in ctyJTre of our a￿111". the infomiation given in thè tru51ees' fcy the fviancial ye•r fvr %*hith th• finJn¢iol gtal•rMnts ar• prepared, ￿1¢h indudes ts thr•ctors' r•M pr•parnd for th• pJrpos•$ of cc¥npany law. is ¢onsist•nl ￿ thè financial slalemenl$', and thè dirèctors, reF4)rt witr¥n thtr Iru$t¢es' rewt has bÈtn wèpw8d in a¢cordarK• *Mih applKabk leyol r•quw•monts. ¥￿￿$￿a￿¥•IrIASIthorl w.A6￿.T￿￿￿￿ 255•pX25 15'26.'29B5T ¢UIC *11D 1rdpo THE JIM RATCLIFFE FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE JIM RATCLIFFE FOUNDATION lfiaiiews on whlch we are requ1￿1 lo report by exeeptlon In thè li￿t of thè and Und•rStar￿Ir¥j of tr• tharty and its ènvironm•nt obtain8d in thè COU￿ of the audrL we have not thnbfied wnaterial miSstatem￿ts in lh• directo￿. rewt incwed th• tr￿t*¥￿' r¢Ftcffi•d by rnt made; or Wg have not r•cON￿ al thè infommtion ar¥J •xplanations wè rwiir• for aud¢ or th• trust￿ wefe not •ntilkd to w•pare th? finarKial statements in accordanc• with th• small compani•s regime and tak• advanta￿ of th• small comwi•s' ¢Xwnptth￿ pr•wtrg I￿ trust••s' and from th• requirement to prtparÈ a str•t4ic r•porL Responslbllltfjes of trustses As explainèd morè fully fft th• st•tèm•nt of trust••s' r•s￿li1￿1￿$. ts 1rttst￿. ar• also th• diréctors of thè thartty for th? purpose ol company l•w. aro rnSpOMb￿ for the Pre￿rat￿￿ olthè finAntial statèmènts and for bpirvj satisfied that they givo a true and fair ¥igw. and fry internal control a¥ fv tluglegs dgtwming 15 r￿?958ry to enable th• pT•paration of fir)anCi￿ stat•nwts that are fr•• from matwial misslat•monl, whgther du• to fraud or eThor. In pr•paMg th• financial slatemenls. the lJustees res￿3￿1• for assessiTrJ the tharity's ability to continuè as a 90ing concem. disclosirg. as appllcable. mattéfs r•kit•d to goirg CCfK•m and using the gtsin9 cone4m bagis of accounting uths trusteès •￿tr￿1 intgnd to liquidaio Iho thar1￿ romp•ny or to cease oporats'orN or hav• no r¢8li5tic thotNè but to do sts. Audknfs fesponslbllllles for the audh of the flnanckl ststements Our objedive5 arè ta obtain rèasona￿￿ assuranc* ab￿rt whethw thè financial statÈmÈrtts as a vA)olè ar• fr•• from material misstatement. ￿ther due lo fra￿j or errry. aTrJ to iwue an awjitorfs rewt that indudes our opini¢>n. Roasonabl• assuranc• is a hYJh l•vd of assurance bul B not a guarante• that an al￿(¢ conduct•d in accordanc• with ISAS IUKI will ah¥ays d•l•ct a matorial mi8Stalement %th•n it axists. MMtat•m•nts can aris• from fraud •rror and ar• considored mateiial rf. IndbvidL￿ty or in the a99rngat•. thoy couhd r•asonably b• •ypecl•d to in1[￿n thè eCor￿liC decision$ of us¢rn l•k¢n on tho bosis ofltrw fin*Kio1 $taternen A lurth•r d•scripts'on of our respons*ilrfig9 is avail41I¢ on th• Finncid Rewt¥vJ Counril's w¢bgite at.. hltys'.11 %w¥W.frc.org.ukJauditoN•s￿5I￿lrtN$. Thi5 forn￿ wt ofour auditorf$ r•wt. Rd. 48GF.TWJg)2 28S•pll)Z5 15J6J 8ST IVTC +110 vJpvx* THE JIM RATCLIFFE FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE JIM RATCLIFFE FOUNDATION Extent lo whlch th¢ ludil was consldered c•pable of delectlng l￿egUla￿lIeS, in¢￿dIng fraud Irr•gulariti•$, induding fraud. are of non-cor￿1￿ knilh laws and r•gLtstion$. We dvJign proc•dur•s in lin• wth our r•sponsitxliti•s. ¢yJlIir￿d ab￿e aTrJ on Ihe Finncial R•wknrg c￿n￿r$ w•bsit•. to d&t•ct mat•rial misstatsmènts in ro5￿ct ol Irre￿al￿o$. fra￿￿. W• obtain and ￿at• our undwstandTrvJ ol Ihe entity. its actNib•s. I￿ contrd •Avirnnm•nt. and lik•ty fut dèv•lopm8nts. induding n rela1￿>Tr to ￿ legal and reg￿atory framèvth applicab￿ aThJ thè èntity is comptying th Ihot framwrk. Bas•d on this urthtstandin9. w• idenbfy aryl a55e55 the risks of matèrial misststement of the nancial statements. wb¢ther to frawt or grror, dgsyn and p•rform audit procodure$ responsivo to those risks. and obtain a￿aIt •wd•nce that is suffiaent arwj approwiat• to provid• a basis for op¢ni¢)n. This indud•s ¢thisid•ration of tho risk of acls ty th• •nlity that w•rn cthryto •ppl•Nè l•*0 régulatioro. I￿lU￿¢¥j Ir•ud. In response to the risk of 1Th•gulariti￿ and Trfvilh Iws and I•9￿allOns. indudr•J fraud. w• designod proc•durns which indudod.. . Enquiry of manag•rn•nt Ihosè charged wih go¥em•n¢é •rwnd aclual and r￿ntiti1 littptitin and daims as wdl a5 a￿￿1, su5peth and alleged frawj: . R•viewing minutes of meetings ofth05e charged wilh 90￿Ma￿e. . Assessing the exlenl of coM￿rance viti Ihe laws and r￿laIN￿ constdered to ha¥• a dir•ct n*t•rial offect on thè financial statements or the op•rntions ofthè •ntity thr￿￿1 vwjuiy and insp•ction.' Rèvièwng financial statèmènl disdoswès and tèsty.ng to suppwling docwRntath)n lo asses5 complianc• applicab￿ law$ 4rKI regulaknThs: . Perfonning audit WO￿ over the risk of managgrnnt and override of controls. induding testing of ioumal ontrios and oth•r adjLBtments for appropriatenèss. •vahJating th• bu$in•ss rational• of spJntficant transactions thtsid• th• nonMI C¢AffS• of t•JSWPS5 and rÈv*winy aec*unlv¥J èstlln*s for it￿le4t0￿ of ptslenti￿ big$. 8oc4uso of tho tho chwity oporales, wo K1•ntI￿ th• f01b*￿ng ar•a$ as tK>g• Ikk•ty to hav• a mat&rial impact on th• financial stat•m•nts'. compliance wih thè UK CompaThosAcl and Th• Charith•sAcL 8¢cau$o of th• irth•rènt limitations of an audiL th•r• is a risk that wll not dgtett all irregul•liti￿, induding those Igading to a material rru55tstsTn¢nt thg fffton(iHI slatements or rnnllcomptiance ￿ rogulabon. risk increases tho more that compliance wilh a law or reg￿tion is mmov•d th• •v8nts and transactions r•fl8ctèd in the finanual statèmènts. as ￿ wll be less likety to becryn• awa￿ of instanc•s of fK)n-complianc•. Thè iisk ol not d•t•ciiThJ a Mat￿al misstat•m•nt rèsu1i1r￿ from fraud 15 high* than for ¢)nè rèsul￿1¥4 from èrror. as fraud may Use ol our feport This ￿POrt is made solely ¢0 Ihe thAnlable eoThpanYs rr*mbers. as a bcrfty. in accordonc• Chapter 3 of Part 16 ofthe ConwaniesAct 2006. Ow audit WO￿ has been wvJ•rtak•n so that ￿ might stat• to th• tharitablè companys membèrs thosè matters we arè required to state to thwn n an auditorfs rèport and for no othèr purposè. To tho lullest extgnt pgrmilted by law. w¢ do r￿t accèpt or as5urn¢ resP￿sb1￿ty tt> anyong than the cherilable Ccthpany and th• Charita￿e companys rnern￿ #s a botty. for our audit work, for this r•port, or fcr tho opirbions hav• form•d. Slmon 8rown 8AACA DChA {Senlor siaiutory AudlloT) fvr ano on behall olAzets Audlt SeThlces 26 Septen*)er 2025 Chartered Accounlants StatutoryAudlior Newca5I9 upon Ty NE3 3LS VM￿￿b3￿ro T￿￿El￿RE1. 461>-IDWW226Sw3)25 15'36'Z9B5T ¢UTC •11Q 113 P 11x40 THE JIM RATCLIFFE FOUNDATION STATEMENT OF FINANCIAL ACTivrriES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEM8ER 2024 ¢uNeni financlal year UnTestrieted lunds 2024 Income from". Donattong arKI l•gacK Inv¢slm•nts 62S,OCL) 145,894 Total Income 770.894 endlture on: Charitable act￿￿e$ 20.063.220 Net {expendlturelllncome for the yeaTI Net {outyolngylncomlng resourc 119,292,326) other iecognlsed galns and losses Other gain5 (x lossès 12 122.323 Nel movement In lun(ts {19.170.003) balanc•s at l JanLW 2024 25.148.742 Pund bala￿￿ al 31 DecembeT 2024 5.978,739 Thè statement afffinantial advirfi•s i￿￿￿1•5 al 9ans k>ssès rèeo9nis•d in Ihè yw. JI inc￿ne aThl expervJituTo dair￿ from ￿ntIn￿& acti¥ii*& Thè ststemtnt of financial ac11v￿¢S a150 c¢mFlies wilh thè for an iicom• and eXpe￿￿tu￿ accO￿t urtdèr the CompaniÈ$ A¢t 2L¥J6. VibJa1Sb3nalw*lBnsa￿ R•f. 4W.TDJ+J50220S*p2ty45 15..3&299STIIITC+l)D VJP 11r2 THE JIM RATCLIFFE FOUNDATION STATEMENT OF FINANCIALACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPEMOITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Prlor finan¢lal year Unresirleted lunds 2023 2023 Notes Income trom: Donalion$ andlsgatys 375,CI)O 1.178.626 375,000 1,178.626 Total In¢om• 1,553,626 1,553,626 endlture on: Charitable actNities 47.449 47.449 Net lexpeftdturevlncome lor the yearl Net loutgolngillncomlng res{wr￿S 1.S06,177 1.506.17T other recognlsed galns and losses Other gains or bsseg 12 57.036 S7.036 Net movement In funds 1.583,213 1.563.213 balanw at 1 2023 23.$85,529 23,585,529 F￿nd bJlan¢es a 311)ecember 2023 25,148.742 25,148.742 viiv¥k8b3￿th T￿n50￿ Rof. 4W.IiW4S0226 S•p>)25 15a629 gSTIUTC+110 1np12QO THE JIM RATCLIFFE FOUNDATION BALANCE SHEET ASAT31 DECEhlBER 2024 2024 2023 CuNent assets Oebtors Cash at bank and in hand 13 6.030,043 21,982.038 8222,971 8.222.971 28.012.081 Credltors: amounts lalllng due wlth one year 15 (762.TTO) (2.863.339) N•t curr•nt a$￿ts 7.460201 25.148.742 Cr¢dlloTS: amounts klkng due after mwe than One year 16 (1.481.462) N•t assets 5.978.739 25.148,742 Income ftmds Urhr•stridod funds 5,978.739 25.148.742 5.978.739 25,148,742 26 Septembgr 2025 fin•Mal statements were •PPToved by the Tntstees on ......................... S MtrrLA* S Morfan Trustee Company reglstrallon number 11810240 V*bJAtsynaiinTxansXtwRof.46GF.TCffj4-￿2l6sW21yz51s..3￿..Z98$T (VTC +110 V3P 1Y20 THE JIM RATCUFFE FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Cash Ilows from operatlng aciivltles Cash absorbwl by op•ralw5 19 (13.285.524} {66,9181 Invesiing aeiivllles Inv•stm•nt in¢om• r•c•vMd 145.tyl 1.178.626 Net cash generated frryn In¥￿tIng athllles 145.894 1.178.628 Flnanclng a￿1VIlle5 R•payment of borrowirwjg 1819.437} 1369.542) Net cash used In Ibnancing aciivllles 1619.4371 1369.5421 Nèt Ideclease￿Thcr*a9t lfft e•sh and cash equlvalents (13.759.067) 742.168 Cash cash •quival•nts ￿ bogirning of y•ar 21.982.038 21.239.870 Cash and ￿$h equlv•lents at end of 8,222,971 21,982.038 10- Tt8hs4eJtsi Ref. 4￿.rJ64.J$u22$seQ202$ 1S86.29&5T IUTC +110 InpI4rio THE JIM RATCLIFFE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountthg pollcles Charlty Inlommiion Th• Jim Raldrff• F￿all￿Tr is a ¢hwty limil•d by 9u¥ar*ÈÈ, in En4•nd and Wales, and cons•qUèn￿Y does Mt ha￿ shar• cathl. Eath of the Iwstees is liabte kn ￿TrI￿le ￿ amc4rt not ox¢egdin9 £1 ttr•4ards th• assèts of thè in thè •v•nt of Iw4uklalion. Th• addr•ss of its mgist•r•d offic• is.. Ha￿91*83•. Chaw Lar*, Lyndhw5t. Hwnp5hire. S043 7FG 1.1 A¢counilng Conventlon Th8 financial statements b8•n 1X•par￿ in acC￿d￿￿e with Acctyjnbng and Reporknng by Charth•s.' Staièmèfti of Rttommèndèd Pradite aPF4ieable to chariti&s près)afing th￿1 accounts in accordan¢• with tho Financi￿ Reporting Standard applicablg n the UK and Republic of Irtland IFRS 10211gffeth 1 Janu 2019}- IChariti•s SORP {FRS 10211. the Finanaal Rep￿n9 Standard applicob5e in Ihe UK and Republic of Ir•land IFRS 102). Th•y also CoM￿Y with th& Comp￿￿e9 Acl 2fyJ6 and Charit*s Act 2011. The Jim Ratc1￿ Foundaliw ￿•ts th• d•fii¥tson of a entity und¥ FRS 102. The financial statements are wepared in stertir8. which is the functicffld cuThenw of the tharity. Monetary The finon¢ial gtalements have been uThJer thè trmsknrical cost Crnntw￿. Thg prinup41 a¢c¢untirvJ pJli¢ies adopted are set below. 12 Golng concem At thg of approviry thg knual ststen*nts. tru5tges hwg a ro•sonab￿ gxpethtion that thg tharity has adequatè r•sources to conlinuè in OFxraiional e￿$ten￿ for the foreseeable fvture. Thus ts tNst••s continu• to adopt the wng conctm basis of •cttMffitiTrJ in prepariTrJ the financial statem•nts. Th• ch￿ty has a strong balan￿ sh••t at th• yejr tnd wilh eash balantÈS Ot £8,222,971 and assots of £5.978.739. The charity has limit•d core costs end liabilities with the main eypendrture relating to grants •ward•d to third paty Organisatic￿$. Grnrts arè only awarded the fuTrJ$ are available and so no grant would be gi¥¢n rf it risked the suslainabilty of the dlarity. On that ba￿$. tho Intstws rwnain cenffidant that a$ grant giving charity there are no uncwtsnts•s wthich cast *9nif*ant drtht on thè tharitys abl￿ to continu• as a going conc•m. 1.3 Charllable fun¢ts Unrestficted incomg fvnds are general thal arn awlabl• for ug• at th• InJ51••s' disu•lv)n in fUr￿ranc• gfthg oltr* ¢h•ity. 1A Income Incomg ig rgcogni59d thg tharity is legalty •￿.1•d to it aftèr any pèrforrnm conditW5 have bggn met. the amounts can bo m•asur•d rdiably. and it is prob*•k that wll be r•c•N•d. Cash donabons art r¢¢¢9nis•d ¢n receipL Other arè r•cognts•d onc• thè tharity has b•*n notff￿d of the donation. Un￿85 perfornanc• condrfions T•quifg dgforral of ts affk)unt. Income tsx re￿¥9rabI9 in r•lation to thnaIN￿5 r•c•iv•d und•rGiftAid ¢x d••d9 01 co￿n9nt 15 r•cowis•d at th• of th• donation. Bank interest r•ceNed ￿ recognbsed on r•c•W Ir￿ the b•nk actcwnt 11 "i1$￿thI￿ Rel 4w.TDs4.￿2 26&p202S1S.38•8STIIITC*llD Inp l&tD THE JIM RATCLIFFE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng polkles (Contfnued) 1.5 Expendiiure Exp8nditur• 15 r•c(>3nis•d onc• th•r• is a l•gal or conslnKti¥• c*l*3alion to Iransfgr •cor￿Mie b￿￿fit to a third paty. it is prthble that a tr•nsfor of econom￿ bwefits wil be requred Yi sÈtslÈnwi( al￿ tht amow* of the obligalion rAn be mea51ved reliably. Ex￿ndItUr• is classffMd by Th• costs of •a(h xtpiity are m•d• up of t¢l•l ¢A dir•¢t costs $hared costs, induding 5UPPtst costs invdvtd in urxjertaking each actyvty. Dvecl ¢0g1s alln"bulable to a single actsvity are allocated direcuy to that activty. Shared costs ￿¢th ccntr*Jute to m?re than one activity and support costs which ar• not attributabl• to a %ngl• actwty arè appOrti￿*&d b•h¥ègn thos• acliviti$s on a ba$i% t<>nsist•nt thè us• of r•S(￿re•S. céfttr￿ staff costs are all¢Kated ¢>n th¢ b•si$ of spènt, depTeciation charyes are alk￿¢￿ w the ol lh• ass￿.5 use. Charrtable exp•nollure cory¥￿e$ thos• costs by thg th¥ity in th• doIN￿ of its activitms and sÈNic•s for rts b•nèficiariès. It in¢￿deS both costs that ¢an ￿ dl¢>catÈd dirÈctty to suth aetNilrès and thosè ¢osts ofan indirgd nahwè r*tss•y to supptyt ltrth. Governance costs indLKIo Iho costs altsibutabh to th charl￿$ conylkvK8 constitutyonal and statutNy r•quirem•nts. induthng audbl. stratogic manag•m•nt and trusk•$ mè•tin9s and r•imbursèd •￿￿ns&S. 1.0 Cash and cash equivalents Cash and cash equivalents indude cash in hand. dw hold * call with banks. oth•r short.t•rm INwd invtstM￿ts with original maturili•s of montrts ty kss, and ov¥rdrafts. 8•r& ov¢rdrafts aro shown withlli btsrrowngs in curront liabd*i•s. 1.7 Plnanclal Instruments The charity hos elected to aF¥ty the provisK￿ of S•ction 11 '8asic FinarKial Irtslwments. and Sedion 12 h•r Finawal Instrumon15 IssLW5' of FRS 102 ￿ au of ts frts•ncid irtstDm￿. Financial instNYMnts w• r•¢CA￿l￿ in ctrh1￿s bAl•*è sheèt kn thè chanty bèewipn￿ and othw factors thai are con$blerèd to be rèlévant. Act￿1 re$￿ts rroy from thosè #stimateg. Th• ￿tIMat•S aTra unde￿1n9 assumpti¢Th ar• mi•kn*d (Y) an ongow¥J basis. R•viS￿￿5 to accounting •stimat•s ar• r•cogni%od in th• poli￿￿ in whKh th• estrmat• rewsèd vkn*r• th• r•vision aff•cts Dnly fvl ptTK*d. or in thè p•riod of the r•v4sion firtur• perK¥Js thr• rtswis￿ ahcts cuff•nt and futuro pèriods. Donatlons and legades Unrestrlcted Unrestrlcted ftmd$ funds 2024 2023 Donat￿$ and gills 625.000 375.0 Dor￿110￿$ and glfts Donat￿￿5 from iThJr4Klu•ls G￿ aid rada*iwd sw,000 125.000 300,0 75.0 625,000 375.0fy) 13- Vfftuuls￿fia￿4 A￿. I￿.IDE￿)Y￿z25$￿2Dzs1S..3B29￿STIlJT¢ •ll0 1BP 17120 THE JIM RATCLIFFE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Invtstrnents Unrestrlcted Unregtflcted funds funds 2024 2023 IntÈr•st rnteivab 145,894 1.178.626 Charftable acdvltles 2024 2023 Grant funding of ad1v￿"e5 (see n¢Ae 81 Share of goV•Mar￿• costs (se• 7) 20.rthJ,000 63,220 47.449 20.C63,220 47.449 Grnntg payable 2024 20,000,C Grant payth• to Unr¥•rsty of Oxford 20.000.￿0 Support costs Govemance Costs 2024 2023 Audit fees A¢¢￿t$n¢Y Lègal and prof•ssional Olhèr aCco￿tanCY and t&x 6.3 1.470 $2,570 2,8PJ) 6.300 1.470 52.570 2.880 6,200 31.WJ 8.100 63.220 63,220 47,449 ' 63.220 83.220 47.449 GmmarK• costs inchAo5 payThnts lo tho wJitry5 of £6,3001202> £6.2001 for ￿dit fms. 14- viru￿￿N￿.￿Trdns&c*on R4f 46GF.Ttw.JS)2 26 S*pW25 1&*'298sfiuTc+i}0 113PII40 THE JIM RATCLIFFE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR fHE YEAR ENDED 31 DECEMBER 2024 Audltof5 remunerat Fees payable to the chorlty's audltor assod•tes: 2024 2023 Audit ofth• Chaity's anrwl •¢e*M 6.200 Nonraudll servl All othèr Mn-audit ser¥ices 1.470 1.300 Nong of the trustèès {£* any p•[50￿ u)nngthd ￿lIh thèm) rwiv•d w r•mwwation or bgnefits from th? charity during the year. 10 Employees Thè avtrag• n￿nber01 èftyknytts duiirwj thè ￿alw*s. 2024 Mumb 2023 Numbei Total 11 Tax•tlon The charsty 1$ exèmpt from tax on incorfe and gains ￿fIry wthin sÈclitin 505 of the Taxes Act 1988 or section 252 of the Taxatiorsof Charwtle Gains Act 1992 to the extent that thes• ar• to its chalitable objects. 12 Other galns or losses Unrestrlcted Unresirtcied funds funds 2024 2023 Forèi9n •xcharKJ• 9•ns 1122,3231 157,036) 13 Debtors 2024 2023 Amounts ialllng due wlthtn one year. 6,030.043 Accru•d income r•lates to Ihg r￿lpt rf gift redaimed. mduding int•r•s( of thjnations received in th• prior and curr•nt year. 1s- TAnsathA¢l.46f>.TQsU￿2%SlP2O2s 15.*."298ST IUTC 411D IrJp i*qO THE JIM RATCLIFFE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 .Loans and overdrafts 2024 2023 Oth•r.loans 2236,462 2.86S.899 Payablè wrthin onè yffir Payabl• aft•r on• year 755.000 1.481,462 2.855.899 On l Awil 2020, • U,000,000 loan was madt availab￿ to the by thè fe4Jnder. Th• loan 1$ inter•st and wag initialty repayable in full by 31 March 2024. alth￿h this has sincè bèèn ¢xlended in September 2025 to a mabjrity dat• of 31 March 2028 by th• knndgr. A'D¢gd of Release. was granted during January 2024. This has wwv•d £500.IMJO ￿1¢h has b••n Y•l•as￿ in th• cuff•nt y•ar and shown as a d￿ation from indb¥ithals vthin thè SOF 15 Ciedllors: am¢)unts lalllng due T*lthln one year 2024 2023 7S5.IxIO 7,770 2.855.899 7.440 Accruals 762,770 2.863,339 16 Credltors: amounts falllng due aftér mort than one ye 2024 2023 1.481.462 17 AMtysl$ of net assets befv￿n lunds Unrestrlcted Unrestricted funds funds 2024 2023 Fund balances at 31 December 2024 are wfesen*d ty. Currènt assèt￿(110ts1lI1le5I Long tem liabiiilig 7,460,201 25,148.742 11.481,4621 5.978.739 25.148.742 18 Related party transactlons Ther¢ were no di$dosab￿ rdol¢d paty d￿n0 th& >w12023. non•l. 16- Tran5tt**A4f.4SGF.T064490228S*p2ty25 15".36"298ST IUTC •l)o Irtsp>Y20 THE JIM RATCLIFFE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 19 Cash generated from operaiions 2024 2023 IO•fichtyWry￿$ fortht ytsr 119.292,326) 1,508.177 Adjustsnents ft*. {145.894) (1,178.6261 122,323 57,036 Foréw* èxckn9È diNÈrtntts Movements in ¥w￿1n9 ¢aWal: D•¢r#a￿lin¢1•a￿eI n debtors Increase in ueditots 6.030.043 330 {4510431 540 Cash absorljed by operallons {13.285.524) (66,916) 20 Anatysls ol changes In net funts AI I C•th 110￿ At31 OK•mb•r 2024 2024 Cash at bank ¥ffid in hwd 21.982.038 (13.759,0671 8,222,971 Lo8n$ fallin9 vthin ￿ year Loans faling du• •fter ft￿1 than on• y•ar R85S,899) 2.100.899 {755.000) 11.481,4621 11,481,462) 19,126,139 (13.139.630) 5,986.509 17-