Cotnpany registration nurnber.. 13678016
Charity registration number.. 1197420
The Natasha PoonawalIa Foundation
{A compony limited by guarantee)
Annllal Report and Financial Siatement5
for the Year Ended 31 December 2023
KNA V Limited
Statutory Auditors
Flygeia Building
Ground Floor
66-68 College Road
Harrow
Middlesex
HAI IBE

The Natasha Poonawalla Foundation
Contents
RefeTence and Administrative Details
TTUStees' Report
2to4
Siatement of Tru5tees' Responsibilities
Independent Auditors, Reptsrt
6t08
Slaietnent of Financial Activities
Balance Sheet
10
Stateinent of Cash Flows
Notes to the Financial StateTnents
12to 18
Detailed Stat¢tnent of Financial Activities
19to21

The Natasha Poonawalla Foundation
Reference and Administrative Details
Trustees
MrAPColl
Mr P M Sinel
Charity Registration Number
1197420
Company Registration Nurnber
13678016
Registered Office
15 Grosvenor Street
London
WIK4QZ
Auditor
KNAV Limited
Statutory Auditors
Hygeia Building
Ground Floor
66-68 College Road
Harrow
Middlesex
HAI IBE
Bankers
HSBC PLC
60 Queen Victoria Street,
London.
EC4N 4TR
Page I

The Natasha Poonawalla Foundation
Trustees, Report
The trustees, who are directors for the purposes of the Companies Act 2006, present the annual report together with
the f￿ancial statements and auditors. report of the charity for year ending 31 DeCe￿bEr 2023. The trustees confm
that the fInancial ststements comply with the Charities Act 2011 and Accountin¥ and Reporting by Charities..
Statement of Recommended Practice applicable to charities preparing their fmancial Statements in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective l January 2019).
Objeetives and activities
The charitable objects of the foundation are..
the advancement of health and the prevention or relief of sickness and the relief of those in need by rea50n of ill-
health in particular through the provision of financial and other support, assistan¢e and advice, in order to save
and enhance the lives of individu215;
the advancement of education and learniEJg in relation to medical science and in particular the promotion of
vaccine research and dissemination of the useful results thereof, in order to save and enhance the lives of
individuals; and
such other incidental and ancillary exclusively charitable activity as the tTU5tees from time to time think fit.
During the year, the Foundation provided ￿ndIng to other charities that align with and support th¢ Foundation's
objectives.
The Trustees have complied with the duty in section 17(51 of the Charities Act 2011 to have due regard to the public
benefit guidance published by the Charity Commission.
Grant-making poliey
Donations made by the charity are decided upon by the trustees in accordance with the charity's objectives.
FinaThci#l review and future plans
Resullsfor iheperiod
The financial activities of the charity are outlined in the Statement of Financial Activities on page 9. Th¢ trnstees are
satisfied with the results for the period. which show a surplus in fiinds of £1.948.101.
The principal funding source for the charity was a donation in 2022 from Senlln Life Sciences Lirnited. Donations
granted in line with the Foundation's objectives, were the main expenditure for the year.
Fulureplans
The trustee5 will consider fiu1her distributions to chaTities in accordance with its objects in England and Wales and
elsewhere.
Page 2

The Natasha Poonawalla Foundation
Trustees, Report
Reserves policy and going concer
The Trustees periodically review the Reserves Policy, recognising that the Foundation's income varies from year to
year. To enable the Foundation to effectively plan its activities. the charity holds reserves with an appropriate level
of liquidity. ensuritig they are adequate to meet current and medium-terni needs.
As of the year-end. there were no restricted or designated reserves, and the charity had access to sutTicient cash to
cover the wnning COSES of its charitable a¢tiYities. even in excess of the income generated. Ai the end of the cutTent
period, the unrestricted general fund was in surplu5 by £1,948,101.
The Trustees consider the going concern basis of preparation to be appropriate for the financial statement5, given
that the Foundatiot) has a simple organisational structure, no long-tern) fJnan¢ial commitments, and sufficient ￿ndS
to meet its liabilities as they fall due over the next twelve months, frorn the date these f￿ancial siatements were
approved.
Structure, governanee, #Dd management
Siru¢ture
The foundation was established on 13 October 2021 and is registered with the Charty Commission. Charity
Registration Number 1197420. The Foundation is a charitable company limited by guarantee, registered with
Companies House and the Clwity Commission.
Trusiee5
The trustees serving during the year and up to the date of signature of the fmancial statelnents were as follows..
MrAPColl
Mr P M Sinel
Governa*ce and management
The Natasha Poonawalla Foundation is goY¢rned by its Artiele5 ofAssociation.
As set out in the Articles of Association, there should be a minitnum of Trustees, who are a150 directors for the
purpose of company law. The trnstees can be appointed and relnoved by the Founders of the charity, Mr Adar
Poonawalla and Mrs Natasha Poonawalla. Trustees are appointed based upon an appraisal of the skills and experience
r¢quired by the Charity. New trustees are to be given an induction and guidance by the existing Board members.
The trustees are ultimately responsible for the policies. activities and assets of the charity. They ]neet regularly tr>
administer the charity and all decisions affecting the ]nanageTn¢nt of the foundation and its assets are taken by the
trustees jointly.
The ll￿stees ensure that they are aware of development5 to governance and best practice in the charity sector. The
trustees have had due regard to the guidance on public benefit issued by the Charity Commission in exerci5llJg their
powers and duties.
All tnjstees have given their time voluntarily and receive no benefits from the charity.
Page 3

The Iyatasha Poonawalla Foundation
Trustees, Report
Mit5g#tioN of risks
The trustees have ident2fi¢d the m￿n risk to th¢ Foundation as being the inappropriate granting of fijnds to third
parties and the possible misuse of those fund5 by the recipients. The tyustee5 confirm that systems have bee
eslabli5h¢d to tnable steps to be taken tts lessen these risks, guch as vetting procedures and undeT$tsnding of the
PTOP05ed usage of funds. The trllste¢s do not believe that the identified risk poses a threat to the ability of the charity
to continu¢ operating a$ 8 going concern.
Public benefit statement
The trustees have had due regard to the guidan¢e on public benefit issued by the Charity Commission in
exercising their power5 and dutie5 and confirm that they have complied with the requirements of section 17 of the
CharitiesAct 2011 to havedue re8ard to the publir benefit guidance published by the Charity Commission for England
and Wales.
Diselosure of information to &llditor
The trust¢e5 confirm that so far as they are aware. there is no relevant audit inforn]ation of which the charitable
¢ompany'5 auditors are unawar¢. They have taken all the steps that they ought to have tsken as Irusfees in order to
make themselves aware of any relEvant audit inforniation and to esiabli5h that the charitable company'5 auditor5 are
aware of that infomation.
Rtappointment of guditor
The auditors KNAV Limited are deemed to be reappoit)ted under section 48712) of the Companies AGt 2006.
The allnual report was approved by the trustce5 of the charity on
2.¥. and signed on tts behalf by-.
MrAPColl
Trustee
Page 4

The Natasha Poonawalla Foundation
Statement of Trustees, Responsibilities
The trustees Iwho are also the directors of The Natasha Poonawalla Foundation for the purposes of company lawl are
responsible for preparing the tru5tees' report and the fInancial statements in accordance with applicable law and
regulations.
Company law requires the trustees to prepare financial State￿¢￿t5 for each fJnan¢ial year. Under company law the
trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the
state of affaiTS of th¢ charitable company and of the incoming resources and application of resources, irt¢luding its
income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees
ar¢ required to..
select suitable accounting policies and appty them consist¢ntlyy
observe the tnethods and principles in the Charities SORP..
mak¢ judgements and estimates that are reasonable and prudent.
State whether applicable accounting standard5. comprising FRS 102 have been followed, subject to any mateTial
departures disclosed and expla￿￿ed in the financial statements., and
prepare th¢ fjnancial statements on the going concern basis unless It is inappropriate to presume that the ¢haTitable
company will continue in business.
The trustees are responsibl¢ for keepit]g proper a¢¢ounting records that Can disclose Wjth reasonable accuracy at any
time the financial position of the charitable cornpany and enable them to ensure that the fJnart¢ial statements comply
with the Companies Act 2006. They are also responsible for safegllarding the assets of the charitable comp2ny and
hence for taking reasonable steps for the pr¢ventitsn and detectiot) of fraud and other irregularitie5.
The trustees aTe responsible for the maintenance and integrity of the corporate and financial information includd on
the charitable company's w¢b51te. Legislation governing the preparation and dissemination of financial statements
may differ from legislation in other jurisdiction5.
Approved by th¢ trustee5 of the charity on
stgned on its behalf by..
MrAPColl
Trustee
Pag¢ 5

The Natasha Poonawalla Foundation
Independent Auditor's Report to the Members of Tbe Natasha Poonawalla Foundation
Opinion
We have audited the financial statements of The Natasha Poonawalla Foundation (the'charity'i for the year etjded 31
December 2023. which comprise the Statertjent of Financial Activities, Balance Sheet. Statement of Cash Flows, and
Notes to the Financial Statements. including a sumtnary of significant accounting policies. The financial reporting
fralnework that has been applied in the￿ prepaTation United Kingdom Accounting Standards, comprising Charities
SORP- FRS 102'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and applicable law
(United KingdoTn Generally Accepted Accounting Practice).
In our opinion the r]nancial ststements..
give a true and fair view of the state of the charity's affairs as at 31 December 2023 and of its incoming resource5
and application of resources, llicluding its incotne and expendiÈure. 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 Companies A¢t 2006.
Basis for opinion
We conducted our audit in accordance with Jnternational Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the
fll)ancial statement5 section of our report. We are independent of the charity in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard.
and we have fulfilled our other ethical responsibilities in accordance with these reqU￿B￿ents. We believe that the
audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
CoDcIusioRS relating to going concern
In auditing the f]nancial statements, we have con¢luded that the trustees use of the goillg collcern basi5 of accounting
in the preparation of the f￿ancial statements is appropriate.
Based on the work we have perfornied, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast slgnificant doubt on the charity's ability to continue as a going
concern for a period of at least twelve months from when the original fsnancial Statements were authorised for issue.
Our responsibilities and the responsibilitie5 of the trust¢¢s with respect to going concem are described in the Televant
sections of this report.
Other inforrnation
The trustees are responsible for the other information. The oth¢r infomiation Comprises the inforniation lljcluded tn
the annual report. other than the financial Statements and our auditor's report thereon. Our opinion on the financia]
statements does not cover the other infoTmation aniL except to th¢ ¢xt¢nt otherwise explicitly stated in our report, we
do not express any fomi of assurance conclusion thereon.
In connection with our &udit of the financial ststements. our responsibility is to read the other infomiation and. in
doing so, con5ideT whether the other inforn)ation is materially inconsistent with the financial statements. or our
knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material
incon51Stencies or apparent material misstatements. we are required to detemine whether there is a material
misststement in the financial stateTnent5 or a material misstatement of the other infomation. If, based on the WOTk we
have perforn)ed. we conclude that there is a material misstatement of this other infomiation. we are required to report
that fatt. We have nothing to report in this regard.
Opinion on other matter preseribtd by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Trustees, Report for the financial year for which the f￿ancial statements are prepared
15 consistent with the financial statements., and
th¢ Trustees, Report has been prepared in accordance with applicable legal requirelnents.
Page 6

The Natasha Poonawalla Foundation
Independent Auditor's Report to the Members of The Natasha Poonawalla Foundation
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charity and its envirotllnent obtained in the eoune of the audit,
we have not identified material misstatements En the Trustees, Report.
We haye nothing to report respect of the following matter5 where the Companies Act 2006 requires us to report to
you if, our opinion..
adequate accounting records have not been kept. or returns adequate for our audit haye not been received from
branches not visited by us; or
the financial statements are not in agreement with the a¢counting records and returns. or
certain disclosures ottrustee5 re￿uneratIOn specified by law are not made,. or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fvlly in the Statelnent of Trustees, Responsibilities (set out on page 5}. the trustees are responsible
for the preparation of the r]nancial statements and for being satisfied that they give a trne and fair view, and for such
internal eontrol as the trustee5 determine is necessary to enable the preparation of f￿ancial ststements that are free
from material misstatement. whether due to fraud or error.
In preparing the f]nancial statements, the trustees are responsible for asse55ing the eharity'5 ability to continue as a
going concern, di5c105ing, as applicable. matters related to going concern and using the going concern basis of
accounting unles5 the trnstees either intend to liquidate the charity or to cease operations, or hav¢ no realistic
alternative but to do so.
Auditor responsibilities for the audit of the fin3ncial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misststement. whether due to fraud or e￿Or, and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level tsf assurance, but is not a guarantee that an audit conducted in accordance with
ISAS (UK} will always detect a material mi55tstement when it exists. Misstatements can arise from fvaud or error and
are considered material if, individually or in the aggregate, they could reasonably be expected to inf]uence the
economic decisions of users taken on the basis of these f]nancial statements.
Extellt to which our procedures are capable of detecting irregularities, ineluding fraud
We design our procedures so as to obtain sufficient appropriate audit evidence that the fmancial statements are not
materially misstated due to non-compliance with law5 and regulations or due to fraud or error.
We are not responsible for preventing non-compliance and catll)Ot be expected io detect noncojnpliance with all laws
and regulations- this responsibility lies with management with the oversight of the Directtsr5.
Based on our understanding of the Charity, discussions with managemenL we identified Companie5 Act 2006, the
Charitie5 Act 201 l Financial Reporting Standard 102, Charities SORP, the charity's governtijg document and UK
t&xation legislation 25 having a direct effect on the amounts and disclosures in the financial statements
As parE of the engagement team discussion about how and where the Charity's financial statements may be materially
misstated due to fraud. we did noi identify any area5 with an increased risk of fraud.
Page 7

The Natashyd Poonawalla Foundation
Independent Auditor's Report to the Members of The Natasha Poonawalla Foundation
Our audst procedures included..
enquiry of trustees about the Chaiity's policies, procedures and related controls regarding cotnpliance with law5 and
regulations and if there are any known instances of non-compliance.,
examining supporting documents for all material balances. tratJ5actions and disclosures..
* review of the trustee mlliutes:
enquiry of trnstees of any legal matter5 and review of relevant correspondence with any legal firms;
• evaluation of the selection and application of accounting policies related to subjective measurements and complex
transactions.
testing the appropriateness of journal entries recorded in the general ledger and other adjustsnents made in the
preparation of the fInancial statements- and
• review of accounting estimates for biases
Owing to the inherent li]nitations of an audi( there is an unavoidable risk that some rnaterial misstatements of the
f]naneial statements may not be detected, even though the audit is properly planned and perfonned in accordance with
the ISAS (UK).
The potential effects of tttherent limitations are particularly significant in the case of misstatetnent resulting from fraud
because fraud ]nay involve sophisticated and carefully organised ￿hemeS designed to conceal it. including deliberate
failure to record transactions. collusion or intentional misrepresentations being made to us.
A further description of our responsibilities is available on the Finantial Reporting Council's website at:
www.frc.org.uk/auditorsresponsibilities. Thi5 description forms part of our auditor'5 report.
Use of our report
This report is made solely to the charitable company's trustees, as a body, ll) accordance with Chapter 3 of Part 16 of
the Companies Act 2006. Our audit work has been undertaken so that we mighi state to the charity's trustees those
tnatters we are required to state to them in an auditor's rq)ort and for no other purpose. To the fullest extent pemitted
by law, we do not accept or assume responsibility to anyone other than the charitable company and it5 trnstees as a
body, for our audit work. for this report, or for the opinions we have formed.
an
ndon
FCA (Senior Statutory Au
alf of KNAV Limited, Sta
tor)
tory Auditor
Hygeia Building
Ground Floor
66-68 College Road
HaTrow
Middlesex
HAI IBE
Date..
2024-71-UK
Page 8

The Natasha Poonawalla Foundg4tion
Statement of Financial Activities for the Year Ended 31 Deeember 2023
Unrestrieted
funds
Total
2023
Note
Income fro￿..
Investment income
55,895
55.895
Total incom¢
55,895
Expenditure on:
Raising ￿ndS
Charitable aclivities
(9,102)
85,356
(9,102)
85.356
Total expenditure
94.458
94.458
Net expenditure
38.563
Net Tnovement in funds
{38,563)
(38,563)
Reconciliation of funds
Total funds brought forward
1,986,664
1986 664
Total funds carried forward
13
1,948.101
1948 101
Unrestricted
funds
Total
2022
Note
Income from:
Donations receiv¢d
2.000.000
2 000,000
Total income
2.000.000
Expenditure on:
Raising funds
13.336
13,336
Total expenditure
13.336
13.336
Net income
1986 664
1.986,664
Net movement in funds
1986 664
1.986,664
Reeonciliation offunds
Total funds carried forward
13
1.986.66A
1.986.664
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 12 to 18 foTm an integral part of these financial statelnents.
Page 9

The Natasha Poonawalla Foundation
(Registration number: 13678016)
Balance Sheet as at 31 December 2023
2023
2022
Note
CurreDt assets
Debtors
Cash at bank and in hand
io
2.154
1951.287
1.953.441
5.000
2 000 000
2.005,000
Creditors: Amounts falling due withln ofte year
Net as5et5
12
5.340
18.336
1948.101
1986,664
Funds of the eh*Tity'.
UDrestri¢ted income funds
Utlrestricted funds
1948.101
1986,664
Totgl fuDds
13
,948,101
1,986 664
signed on their behalf by..
MrAPColl
Trustee
The notes on pages 12 to 18 form an integral part of these fitlancial statements.
Page 10

The Natasha Poonaivalla Foundation
Statement of Cash Flows for the Year Ended 31 December 2023
2023
2022
Note
CAsh flows from operating activities
Net moveTnent in funds
138,5631
1,986,664
Adlu$tmeDt5 to eash flows from non-cash items
Investmeni in¢orne
55.895
194.4581
1,980,664
Working tgpital &dJustment5
EkGrea5¢11incTease) in debtors
(Decreasel/i2)¢rease in ¢T¢ditors
io
5.000
12,996
15,0001
12
Net cash flows from operating activitie5
1102.4541
2,000,QOO
Cash flows from investing actlvities
Interest r¢¢eivable and similar in¢ome
53,741
Net increase in cash and ¢ash equivalents
148,7131
2,000.000
Cash and ¢ash equivalents at l January
Cash and cash equÈvalents at 31 D¢cetnb¢r
2 000 QOO
1.95 1.287
2,000,000
All of the cash flows are derived from continuing operatjtsT15 duriTL8 the above two peri(xJs.
The notes page5 12 to 18 fomj an inl¢gral part of these flnancial statements.
Page 11

The Natasha PoonaTrvalla Foundation
Notes to the Financial Statements for the Year Ended 31 December 2023
I Charity st*tu$
The charity is limited by guarnntte. incorporated in England and WalES, and conseqllently does not have share capital.
In the event of the charity being wound up, the liability in respect of th¢ guarantee is limited to £ I peT member of the
charity.
The address of lis registered office is..
15 Grosvenor Street
London
WIK4QZ
2 Accounting poll¢les
Summgry of Significant actoullting policies key accountiDg e$tirnates
Th¢ principal accounting policies applied in th¢ preparation of these finan¢i#l statements are Set out below. These
policies have been ¢on515tently applied to all the years pre5¢nted. unless otheTWi5e stated.
BASIS of preparatlOD
The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of
Re¢oTnmended Practice applicable to ch2rities preparing theiT accounts in a¢¢oTdance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective l January 2019- Charities SORP IFRS
10211. the Financial Reporting Standard applicable in the UK and RepubliG of Ireland (FRS 102) and the Companies
Act 2006.
The Foundation meets the definititsn of a public benefit entity under FRS 102. Assets and liabilities are initially
recognised at histOTical cost or transaction V￿Ue.
Th¢ futtctional and presentational cu￿entY is GBP Sterling (£}, being the cyrrency of the primary economic
envirot)ment in which the charity operates in. The amounts are p￿¢￿ted rounited to the Th￿¢st pound.
Going ¢ooeer
Th¢ tru5t¢e5 have assessed the charity's ability to continue as a going coneern and have concluded that there are no
material uncertainties related to this matter. Additionally, IheT¢ are no signifi¢ant areas of un¢ertainty that could
materially affect ihe Carrying value of the charity's assets. The charity maintain5 sufficient cash balances to Cover
overhead expenditure5 for a period of no less than 12 month5 from the date these financi￿ ststements are approved.
Consequenrly, thes¢ fu￿nCIal State￿entS have b¢en pT¢par￿ on a going concem basis.
IDeome gnd endowments
All io¢ome is rccognised ontt the charity has et)till¢￿C￿t to the funds. any performance conditions atta¢hed to the
ttemlsl of income have been met. it is probable that the it)¢ome will be received and the amount of the incom¢
receivable can be measured reliably.
Page 12

The Natasha Poonawalla Foundation
Note5 to the Financial Statements for the Year Ended 31 December 2023
Dontttiofts undlegocies
Donations are recognised when the charity has been notified in Writing of both the amount and settlement date. In the
event that a donation is sub ect to conditions that require a level of perfortnance by the charity before the charity is
entitled to the thnds, the income is deferred and not recognised until either those eonditions are fijlly met, or the
fulfilment of those ¢onditions is wholly within the control of ihe charity and it is probable that these eondition5 will
be fulfilled in the reporting period.
Inve51menl in£othe
Interest on ￿ndS held on deposit is included when rcceivable and the amount can be measured reliabty by the charity
this is normally upon notification of the int¢Test paEd or payable by the bank.
E penditure and irrecoverable AT
Expendiiure is recogllised once there i5 a legal or constwctive obllgation to tnake a payment to a third party, it is
probable that settlement will be required, and the amount of the obligation can be measured reliably. All expenditur¢
is a¢¢ounted for on an accrual's basi5 under the following headings.
Cost5 of raising funds ¢ompri5es fundraissng ¢osts incurred in seeking donations, grants and legacies and costs of
fundraising activiti¢s.
Expenditure tsn charitsble activiti¢S Includes those costs inGurred by the charity in the delivery of its activities and
services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of
an indirect nawre necessary to support in furthering the purpos¢5 of the charity and their associated support ¢05ts.
Support cost5 comprise those costs wh2ch are incllrred directly in support of expenditure on the ob eGts of the charity
and include governance cost, finance. and office ¢05ts. Govemance ¢osts are those costs incurred in connection with
Ihe compliance with constitutional and statutory reqUire￿¢￿ts of the chaTity. Irrecoverable AT is charged as a cost
against the activity for which the expenditure was incurred.
These costs have been allocated between c05t of raising funds and expenditure on ¢hariiable activ￿lIes.
All r¢sour¢es expended are inclusive of irrecoverable AT.
Ta atlOD
The ¢otnpany i5 considered to pass the te5t5 set out in Sch. 6. para. l of the Finance Act 2010 and therefore it meets
the defjnitiot) of a charitable comparty for UK CO￿Oration tax purposes. Accordingly. the company is potentially
exempt frotn taxation in respect of income or capital gains received within ¢ategoTi¢S covered by Pt. I l. Ch. 3 of the
Corporation Tax Act 2010 or s. 256 of the T&xation of Chargeable Gains Act 1992. to the extent thai such incom¢ or
gain5 are applied exclusively to charitable purposes.
Debtors
Debtors are recogDiSEd at fair value when it is probable that fllture economic benefits will flow into the charity and
the value can be measured reliably. They are subsequently TnEa5uT￿ at amortised ctsst less any provisions for
impairment. AccTu¢d income 1$ included at the best estimate of the amount's re¢eivable at the balance sheet date.
Page 13

The Natasha Poonajvalla Foundation
Notes to the Financial Statetnent5 for the Year Ended 31 December 2023
Cgsh cash e uivalent5
Cash and cash equivalent5 consist of ¢ash on hand, call deposits, and other short-term, highly liquid Invest￿cnts.
These investments have a maturiry of th￿e months OT le55 from the date of acquisitjon QT opening of the deposit or
similar account, are readily convertible to a known arnount of cash, and are sub ect to an insignificat)t risk of changes
in value.
Creditor5
Creditors are recognised where the charity has a Present obligation resulting from a past event that will probably result
in the transfer of funds to a third paty and the amount due to settle the obligation can be measured or estimAted
reliably. Creditors are nollnally recognised at their settlement a]nount after ￿loWing for any trade discounts due.
Fund 5trllcture
Unre5tTlCted funds are available to Spend on activities that further any of the purposes of ¢haTity at the discretion of
the trust¢e5 and are those funds which have not been designated for other purposes.
Designated funds are unrestricted fund5 of the chartry which the tn2stees have decided at their discretiojj to set aside
to use for a specific purpose. The aim and purpose of each designated fund is set out in the notes to the financial
5tat¢ments.
Restricted fvnds are funds of the charity restricted for specifi¢ Purposes being undertaken by the Charity. The cost of
raising and administering such funds ar¢ Charged against the specific thnd. The aim and use of each Ma￿la1
designated, and restricted fund is set out in th¢ notes to the financial statements.
Crttical &ctountillg estimates #nd judgements
Judgments in applying accounting policie5 and key sollr¢e5 of estimation uncertaiTrty The PTeparation of financial
statements in conforniity with FRS102 requiTE5 management to make estimates atld assumptions that affect the
re]x)rted amounts of liabilities and expenses that are repoTted and disc105ed in the fJn3n¢ial statements and
atcotnpanying notes. The estimates and underlyin8 assumptions are reviewed on an ottgoing basis. Revisions to
afj¢ounting estimates arc recognised in the period in which the estimate is revised if the revision affects only that
period, or in the period of the revision and future periods if th¢ revision afftcts both cllryent and fubjre p¢riod5.
Signifjcant ¢stirnates and assumptions are used as follow5..
Ac¢ru*l$:
Accrua15 represent liabilities to pay for goods or services that have been received or supplied but have not been paid,
invoiced. or fomiajly agreed with the supplier. These are estimated b￿ed on historical experience. GOntractU￿ teTTn5.
?r)d other evidence, such a5 communication with suppliers and service provtder5. The actual aTnounts may differ from
the estimated amounts depending on the final terms agreed upon or any dispute5 that may arise. Management rEviews
the accruals on a periodic basis to ensure they are r¢fle¢tive of the besi estimate of the amount5 that will be paid based
on the most recent inforniation available.
Page 14

The Natasha Poonaivalla Foundation
Notes to the Financial Statement5 for the Year Ended 31 De¢ember 2023
3 Ineome from dott#t10115 and legacies
Unre$trieted fulld5
CeDeral
TotAI
2023
Total
2022
Donation5 received
2 000 000
2,000 000
All donations in the previou5 year relate to utJrestriGted funds.
4 Jllv¢$tmtnt income
Unrestricted futtds
General
Total
2023
Total
2022
Bank interest
55.985
5 Costs of rai$lng funds
UJ)re$tri¢ted funds
General
Total
2023
Total
2022
Support costs:
Legal and professional fees
Accoutjtancy fees
Auditors remuneration
Other costs
Bank charges
1.200
3.300
1,800
2J04
498
1,200
3,300
1.81)0
2.304
498
8,236
3,300
1,800
9.102
13
36
6 Charltable aetivities
UDrestricted funds
Ceneral
Total
2023
Totgl
2022
Charitable donations
85J56
85
56
Page 15

The Natasha Poon#walig Foundation
Notes to the Financial Statements for the Year Ended 31 December 2023
7 Trustees remuneration expense5
During the current and prior periods. no trustees received any remuneration or other beneft¢s and no trustee expenses
have been incurred.
8 Staff costs
There were no employces in the current or prior period.
9 Taxjtlon
Th¢ charity is considered lo pa5S the tests set out it) Sch. 6. pard. l of the Finance Act 2010 and therefore it meets the
definition of a charitable ¢OTnpany for UK COTPQT&tion t&Y puryoses. Accordingly, th¢ ¢OTnpany is exempt from
t&Kation in respect of in¢ome or capital gaios rEceived within categorie5 covered by Pt. I l. Ch. 3 of the Corporatio
Tax Act 2010 or s. 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are
applied exclusively to ¢haritable purposes.
10 Debtors
2023
2022
Other debtors
A¢¢rued interest incom¢
5.000
2.154
2,154
5,000
I I Cash and ￿8b equivaltots
2023
2022
Cash at bank
Short term deposits
397.546
1,553,741
2,000.000
1.95 1.287
2,000.000
12 Creditors: &mounts falllng due With1￿ one yeAr
2023
2022
Trade Creditors
Amounts due to related parties
Accruals
1.140
13.236
18,336
Page 16

The Nata$ha Poonawalla Foundation
Notes to the Financial Statements for the Year Ended 31 December 2023
13 Funds
2023:
Balance at I
J*Duary 2023
Incoming
resources
Resourees
expended
Balance at 31
December 2023
Uthrestricted funds
General
1,986.664
1948,101
2022:
Ineoming
resources
Resources
expended
BalaDC¢ at 31
December 2022
Unrestricted fund5
General
2.000.000
13.336
1,986 664
14 Net assets by fund5
2023..
Unrestricted
funds
G¢J)¢ral
Total
2023
Current assets
Current liabilities
1,953,441
5,340
1.953.441
5.340
ioi
1948 101
2022..
Unrestricted
funds
General
Totsl
2022
Current assets
Current liabilities
2,005.000
18,336
2,005,000
18.336
1,986.664
Page 17

The Natasha Poonawalla Foundation
Notes to the Financial Statement5 for the Year Ended 31 December 2023
IS Related party transaetions
During the period, the charity engaged in transactions with Serum Life Sciences Limited (SLS). a company in which
Natasha Poonawalla. a founder of the charity. also serves as a director. The details of these transactions are as follows".
SLS donated £2.000,000 to the Foundation in the prior period.
During the Current period. SLS paid £42.764 on behalf of the Fgundatitsn for donations (2022.. £13236 was
paid by SLS on behalf of the Foundation for flnancial and legal services). These amounts, including the
brought fonvard balan¢e of £13,236. were fully repaid to SLS during the CUTrent year. As of the period end.
there were no outstanding balances due to or from SLS.
Page 18