2021-12-31-accounts

Registration No. 233838 THE SIR JULES THORN CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

THE SIR JULES THORN CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021 Charlty Number 233838 Re8lstered OFficè 24 Manchester Square. London, WIU 3TH Trustees Elizabeth Charal Ichaimianl Timothy l Harvey-samuel (appointed I" November 20211 julian D F Ide K Mark Lever Pri)f Sir Ravinder N Maini FRS. FRCP, FMed,Sci John G Rhodes Prof David L Russell-jones MBBS. Bsc, MD, FRCP William H Sporbor8 Richard Benson Dlrector Audlttsr Haysmacintyre LLP 10 Queen St Place London EC4R IAG Bankers Natwest 81oomsbury Parfs Branch 214 High Holbom London WCIV 7BX Sollritprs Mills & Reeve 8otanic House Hi115 Road Cambridge CB2 IPH Investment Managers Ruffer LLP 80 ViCt￿la Street London 5WIE 5JL Baillie Glfford- oppointedFebroKJry 2021 Calton Square I, Greensidè Row Edinburgh, EHI 3AN Sarasin-oppoinred February2021 Juxon House ICXJ, St Paul's Churchyard London EC4M 8BU Vanguard Asset Services-appolnted Februory2021 4th Floor, The Walbrook Building London EC4N 8AF Ninety One UK Ltd- until February 2021 55 Gresham St, London EC2V 7EL Cazenove Capital Management Ltd- until February 2021 l London Wall Place 2 Moorgatè, London EC2Y SAU

THE SIR JULES THORN CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021 The Trustees present thelr report along with the audlted financial statement5 of the charity for the year ended 31 December2021. The flnancial statements have been prepared in accordance with the charitys Tnjst Deed, the Charities Act 2011, and the Statement of Recommendeil Prnctice for Charities ISORP 20191. Our accounting pollcles are set out on pages 19-21 of this report. The report d￿CribeS the Trusvs Eovernance and management structure, its grant programmes and main activities during 2021. ￿ noted In the previous yeals ￿pOrt. many of the or8anisations thatthe Trust supports were affected by the COVID.19 pandemic and, as in 2020. the Trust made a number of changes to its Brant programme5 during the year to provlde addltlonal core funding for hospices and small charities responding to the pandemlc, and to support researchers resuming their work in unNerstties and the NHS. At the time of writing, the challenges created by the pandemic for many of the Trusys 8rant-holder5 appearto have eased. The recovery from the pandemic combined with the diffituh economic climate nevertheles5 means that many of the organi5ation5 that the Trust supports face a period of continued uncertainty and potentially increased demand for their Serv1￿5. The Truslees will continue to keep the position undèr review and completed a revlew of the Trust's strategy in November 2021. The Trustees revised a number of grant programme5 to respond to these changes in the external environment and ensure that the Trust's activities continue to support its charitable objectives and remain sustalnable forthe long-temi. Structure, Governance and Management The Sir lules Thorn Charitable Trust is constituted under a Trust Deed dated 18 February 1964 and Is a registered Charity, number 233838. It was established with an endowment from Sir Jules Thorn. The rus oes no raise and See￿ to continue the charitable work inspired by Sir Jules through the careful stewardship of it5 ex￿tIllg resources. The charity has no fundralsing actNtties requiring disclosure under S162A of the Charities Att 2011. The Trust is governed by a Board of Trustee5 who oversee the Trusvs governance, set the strategic direction and review the progress of Its implementation. The Trustees nornially meet twice each year but given the contlnued impact of the pandemic held four meeting5 in 2021- in March, June and November of that year, with an additional strategy meeting also taklng place in November. The Boord's Investment5 Sub-commtttee meets with the invèstment managers at least annually to discuss in detail the performance of the Trust's investments. The Sub-committee makes a report to the Board following its meetings. The Investments Sub-commttlee completed a review of the Trijst's investment Strategy during 2020, and the revlew's recommendations were approved by the Trustees. The changes arlsing from the review v4ere Implemented in February 2021 and are reported on page 11. The Board is also supported bythe Trust's Medical Advisory Commtttee (MACI of leading clinicians and researchers, which oversees the peer review of research grant applications and makes recommendatlOn5 to the Board on fundlng. The Committee held three meetings in 2021. The Tru5tee5 wish to express their thanks to the Chair and members of the Committee for their continued support and advice during a period of unprecedented pre55ure on clinicians and researth teams across the UK. The Trustees wish to expre55 their gratitude to Professor Geraint Rees and Professor Andrew Lever who stood down froffi the Commtiee when their terms came to an end in December 2021. The Bozrd and MAC resumed face-to-face meetings In the autumn of 2021. Earlier meetings during the year were held online due to COVID-19 restrittions, and both bodies and the Investment SulFCommittee were able to deal with all essential business through Corresponden￿ and online conferencing.

THE SIR JULES THORN CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021 The Board undertakes an annual review of its effertivene55, in order to ensure contlnued compliance with the Charlty Governance Code and relevant good practice. The reV￿W In November 2021 took account of updates to the Code, which were published in December 2020. While the Trust Deed does not provlde for a minimum or maximum number of Trustees, the Board's Terms of Reference state that, unless the circurnstance5 are ex￿ptIonal. there will not be less than seven and no rnore than ten Trustees. The composition of the Board is kept under regular review to ensure its members continue to provide the range of skills required to support the Trusys strategy. The Board ha5 considered guldance published in the Code regarding the pedod for whlch individuals should normally serve on boards as Trustees and new Trustee5 are apFM)inted for a terrn of 5 year5, which may be renewable with the agreement of the Board. When Trustee vacancies arise, individuals are identified who provide the required skills and the broader requSrementS set out in the Trustee Role Descriptwjn agreed by the Board. Potential candidate5 are invlted to a selection interview, which may lead to an appointment to the Board. New Trustees are given a briefing about the Trust and all aspects of their responsibilities, including governance. Trustees are also offered the opportunlty to attend sector specific courses run by AMRC and other providers and in addition are made aware of changes to Charlty Commission guidance as and when appropriate to their role on the Trustee Board. Further, where appropriate, induction meetings with the Trust's professional advisors are offered. All Trustees are unpaid. The Trust has a Conflltts of I nterest Policy, which sets out the principles which are applled to Identrfy transactions and decision5 in which individuals rnay have a personal interest, and the pro￿55 for managing potentlal confllcts. The Policy applies to all Trustees, Trust staff and member5 of the Medical Advi50ry Committee. The Trust operdtes with a small team of four staff. including the Director, who provide5 the key management role within the definition of FRS 102. Key Management Personnel salarle5 are set by ihe Board, after benchmarking to market conditions and other similar Charitie5. The Director is accountable to the Trustee5 for the Implementation of the strategic plan. and for the day-to-day management of the Trust. The Trust acknowledges the Importan￿ of its staff in ensuring both the ongoing strategic development and efficient administration of the charity. The overall alm of the Twst's policy is to offer fair pay to attract and retaln appropriately qualified staff to lead, manage and adminSster the chartty and to fulfil the charitable objects on behalf of the Trustees. The Trustees review the remuneration of the Director and other staff on an annual basis. Risk Management The Trustees are responsible for monttoringthe rLsks facing the Trust and ensurlng that adequate steps are tak@n to manage them. The Tnjst has a formal risk re8lSter which is regularfy reviewed by the Board, and risk is Inherent to the Board's discussions on all aspects of the Trusys wod(. In addition. Ihe Board considers any recommendations from the Tru5V5 auditors regarding further improvements to the Trusys System of internal ¢ontro15, and management responses to recommèndations. The Investment 5u&Committee revlews rlsks specrfically related to the Trusys investments. The principal risk5 facing the Trust are: Flnondt71- where inappropriate asset allocation or adverse market conditions could potentially undermine the financial sustainability of the Trust or mean that total returns from the Trust's Investrnents were not sufficient to meet its normal level of grant commitments. This risk was addressed by the Trustees, review of the Trusvs investment strategy durinB 2020 and managed through the ongoing monttoring of investment performance by the Investments Sub-committee. Strateglc- where the Trusvs grant making strategy has to keep pace wlth developments in research, clinical practice and relevant sectors of care.

THE SIR JULES THORN CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021 The Trustee5 reviewed the Trusvs strateBy and grant programmes In November 2021. When making signfficant award5 the Trustees consider advKe from the Medical Advisory Committee and external experts contrlbutlng to the peer review of research proposals. Opemtional-where processlng fallures, fraud, or major incidents, would impede the charittys ability to funrtion effectively, and thus to deliver its charttable objectives. Internal controls are kept under revlew. The Trust's operations continued remotely throughout the pandemic without any disruption or adVe￿e impact on controls. Compliance- where a failure to compty with charity law, the general law, or the founding Tmst Deed. would compromise the charit¥5 Status and reputation. The Trustees review governance arrangements gn an annual basis and will conduct a further review of the Board's effectiveness later in 2022 to ensure continued compliance. In common with otherorEanisations, theTrust's risk management arrangements were tested by the pandemic. The Trust does not face the same thallenges as chartties whlch are dependènt on fundraising or those delivering front- Ilne servlces. At the time of writin8, the pandemic and tts impact on both the Trust and the organlsatlons that It funds have nevertheless confirmed the Trustees. previous assessment of the principal risks facing the Tnjst and that its rlsk assessment proce5s 15 robust. Overall, the Trustees are 5at15fied thal all risks are beinE managed effectively and that measures are In place to ensure good governance, prevent financial or administrative fraud or malprdctice, protect ihe good reputatign of the Trust and ensure compliance with relevant legislation and guidance. Objectives, Artivities and Public Benefit Objectives The Trust Deed gives the Trustees absolute d￿CretiOn to apply the capital and income of the Trust for charktable purposes generally but. in doing so. they take note of the Founderfs wishes. In keeping with Sir Jule5'S Original intentions, the Trusys largest grants support translational medical research undertaken in the UK'S leading medical schools and NHS organi5ations. Beyond medical research, the Trusvs other grant programme5 SUPPOrt health and care SeNi￿S for p￿p1& living with serious or life-limitin8 conditions, and those with- or at high risk of - physical or mental ill healthi people living with disabiltty, and thelr famllies and carers. In discharging tFTeir re5ponsibilttie5, the Trustees conflmi that they have due regard to the Charity Commi$5ion'5 publishèd guidance on the Public Benefit requirement under the Charities Act 2011. Artivities In pursuit of its objectlves, the Trust delivers public benefft ￿ providing awards to universitles, NHS organisations and other registered charities. Awards are normally made through the Trusvs competitive grant programmes,. the details of which are available on our website. In response to the pandemic, the Trust launched an additional, one- off programme in December 2020 to support translational research, and the award was made in November 2021. The Trust dld not directly advertise its progrnmme5 during the year but information 15 available to charities through fundraising databases, and our longstanding 5UPPOrt for medical re5earEh and other CO￿ areas means that the Trust recewes significantly more applications than tt Is able to fund in any one year. The Trust'5 grant programmes are outlined briefly below. The 5irJules Thorn Awardfor Blomedlcal Research The Sir Jules Thorn Award support5 the work of outstanding investigators who are in the early stages Df a clinical research career. It offers a grant of up to £1.7million over 5 years. Since the inception of the Award in 2001. the

THE SIR JULES THORN CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31" DECEMBER 2021 Trust has pledged more than £23m to fund the highest quality translational research whSch seeks to brin8 benefit to patients through Improved diagnostics and/orthe development of new therdpies for important clinical problems. Research can be in any field of clinical research, and in recent years we have funded major research project5 in areas as dIVe￿e as the genètic causes of cerebral palsy. T cell ImmunotheTrpy in autoimmune liver diSe￿e and treatment and heaéache mechanisms for people suffering from ralsed intracranial pre55ure. The Award is norn)alty made following an annual competrtion among UK medical schools and NHS organisatlons. Applications are subjected to rlgorous peer review by the Medical Advisory Committee and external experts in the relevant clinical field. The Trusys peer review process Is accredited by the Association of Medical R￿earch Charities IAMRCI and Is subject to audlt by the Association. The AMRC completed r(s most recent audit In April 2021 and found theTrust's processes werefully compliantwith AMRUS five principles of peer rev￿W.. accountability, balante, independence, rotatlon and impartiality. The terms of the award stipulate that intellertual property rlghts created as a resutt of Trust-funded research should be protetted and exploited, where commercially worthwhile. An Intellectual Property Agreement wlth each Instltution defines issues of protection and exploitatlon. and the arrangement5 forsharing any commercial income which 15 generdted. The Trust's share of any such income would be allocated to the Trusvs charitablè purposes. As noted in the previous Trustees. Report, the cOrn￿lti￿n for the 2020 Award was suspended at thè long-listing stage due to the pandemic and the unpwedented pressures this imposed on clinical staff involved as both applicants and revlewers. The competition was re-started in September 2020 and the Award was made In lune 2021. Tronslatlonal Blomedlcal Research Award The pandemic disrupted research across universities and the NHS, with non-covid research suspended or severely restricted for much of 2020. In order to support research as investigators resumed their work. the Trust laurbched a new one-off programme in December 2020.. offerlng an award of up to £lm to support a single research project, in any discipllne or disease area. The Trustee5' aim was to support research teams whose work was already at an advanced stage of translation- includln& for example, those which had data from previous studies but had been unable to progress their work during the pandem￿ and found other fvnding unavailable due to the impact of the pandemlc on research charities that are dependent on fundrdisill8. Initial applications were received from 12 ￿ading meilical schools in FebTuary 2021 and 5 were invited to submit full application5. Following rigorous peer review, the award was made in November 2021. The Sirjules Thorn PhD Scholarship Prngromme The Trust'5 PhD scheme normally offers two new Schola￿h[p5 each year for Dutstanding candidates to undertake a challenging four-year research project. leading to the Submission of a PhD thesis. Over the past 12 years th@ Trust has committed over £2.5m to this scheme and more than 25 PhD students have benefited from scholarshlps. Applications are invited from universitles or research instttutes whlch have dottoral training programmes recognised by the Medical Research Council or the Wellcome Trust. Targeting the scheme in this way ensures that Trust-funded students are embedded in instttutions offering the highest quality dottoral training and research. As for the Sir Julès Thorn Award. the competttion for the PhD programme was suspended in 2020 due to the pandemlc. Applications were rolled forwar(J, and the Trust awarded schola￿h1ps to the Universities of Edinburgh and Sheffleld in April 2021.

THE SIR JULES THORN CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31sf DECEMBER 2021 Medlcully Related Donatlons The Medlcally Related Donations programme was launched in 2018 to assist with capital prolects whlch have the potentlal to accelerate medical research or to SUPPOrt innovation in care and treatment for people sufferlng from severe clinical conditlons. The scheme operates competitively. with a two-stage application proce55 of outline proposals followed by detailed applications from 5hort-listed organisations. Short-listed application5 for research infrastructure projects are subjert to external peer review. Where appropriate for care project5, the Chairman and Dirertor undertake site visits as part of the a55e55ment process. Due to Covld-relaled restrictions, some of these visits were conducted vlrtually in 2021. Hospice Fund The Hosplce Fund wa5 also introduced in 2018 In response to the large number of funding requests previously received frtrrn hospices under the Ann Rylands Small Donatlons programme. The pandemit Imposed extraoréinary pressure on the sector wf(h many hospice5 offering 5tep-down care or other services to support the NHS.. whilst lockdown restrictions led to substantial losses in hospice5' fundraising Income. These pressures were reflected in the substantial growth in applications to the prograrnme. In order to support the sector, the Trustees increased the budBet for the Hospice Fund from £200K in 2019 to £500K in 2020 and maintained this higher level of funding in 2021. All proposals were a55e55ed on a competitive basls and all avallable funding was allocated to support h05pices' core costs as they worked to respond to the pandemic. The Ann Rylonds Small Donatlons Pmgramme The programme is named in honour of a fomer Chaimian of the Trust {and daughter of Sir Julesl and awards grants to support small charities {which ft)r the purposes of the progrdmme are defined as those with an income below £5ml. Charitie5 can apply for grants towards their core costs. or to support a specifK project. The Trustees agreed In June 2021 to increase the maximum award from £L5(K) to £2,500. The funding criteria are broad but the Trust priorttises applications from Charitles which offer prdctical support for older peoplei people with disabilities or living with sovère illness, or people facing challenges with mental health, social exclusion and homelessness. Although the level of indNidual awards is modest, the cumulatwe support that the Trust provides for smaller charitie5 is $4gnificant and feedback from recipients Indirates that the programme is valued and continue5 to meet a need. The Trust re￿iVed 689 applications from small charrties in 2021. which was marginally lower than the previous year Iwhen the Trust received 734 application5, partly driven by a significantspike in appeals during the first wave of the pandemic). As with the Hospice Fund. the Trustees increased fundin8 for this programme in responsè to the pandemic. Achlevements and Performan Durin8 2021 the TrL55tees awarded 451 grants totalling £5,283,094 net, including future year commitments. This was significantly higher than the £2,016.480 awarded in 2020, which ts due to the r￿UMptIOn of the competitions for the Sir lules Thorn Award and PhD proBrammes and the additional Translational 8iomedirdl Research Award. The number Df application5 to ihe Trusys other grant programmes decreased by 9% in 2021 1840 applicatiOllS against 920 in 20201, again reflectingsome easingof the immediate pressures imposed on charlties by the pandemlc as the year progressed. Thls number of applications was nevertheless 45% above pre-pandemic levels 1581 applications in 20191. reflecting the continuing demands on mawry charities and the impact of Covid-related restrictions on their fundrai5in8 income. A full list of grants can be found on pages 2942 of this report. and highlights are summarised in the following table.

THE SIR JULES THORN CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021 Grants Summary for 2021 GrantsAwarded 451 2020.. 472 Appfications Recelved 874 2020.. 920 TOTAL FurHls Pledged In Year £5,311,844 2020.. £2,016.480 The SirJulesThorn Award for Blornedical Science Full appllcatlons Invlted Appllcatlons Re￿h ApplKations Shortllsted Tris oword wa5 SU5pendedin 2020due to Cowid £1.69ZA9I awarded to lThperial College London for their project: Defintng the genetKs of curdtomyoptrthie5.' disserting detemiirn?ft)ts of diseose, penetronce. tsndexpressivityforpreclslon medicine Translational Biomedical Researth Award Full applicatlons In¥lted Appllcatlons Recel74ed 12 Appllcatlon$ 5hort115ted £974226 awarded to the Unwersity of OxFord fortheir project= Flrst trime5terplocentol ultrusound to predittfettslgrowth restrirtion.. rhe OxPLU55tudv The Slr Jules Thorn PhD Awards Applkatlons Recelved Appll¢3tlon5 Invited Awards Made £2Z3.527 awarded lor 2 PhD5 to the Universtty of Edinburgh a•d the University of Sheffield Medi¢ally Related DOna￿On$ Type of Support Research Infrartructure: 7 {2020.- IOJ CO￿ Prole￿. 1012020.. 81 Researth & Care: 312020.. 4J £IW.OLKI awarded in 2021 2021.. f 850,000 for 2 projects supporting medical .'nfrastructure 2021.. £135.000 lor 2 projects supporbn8.he devdopment of innovative care models 2021.. £515,cixI for2 projects supporting both research and care Appllcatlons Re￿7￿1 Applicatign5 Shortli5ted Research Infrastrurture Gire Projects 2020.. 22 Research & Care.. Hosplce Fund Type of Support Applications Recelved Avrdrds Granted 100 £5clI￿ awarded in 2021 2020.. E515.(XX)t7worded 2020.. 172 2020.. 103 The Ann ftYlar￿ Small Donations Programme Type of Support Core Costs: 39012020.. 420) Capttal Projects.. 29912020.. 3141 £4212IKI awarded in 2021 to small charlties across the UK workin&tO 5UPFlOrt cornrnunity care and people INingwith severe illness, di5abilitie5, or to 3ddre55 issues including mental iiea t￿, soual exclusion and homele5sne55. 2020.. £398.039Aworded Applications Recelved Awards Granted 337 2020.. 734 2020.. 364

THE SIR JULES THORN CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 315f DECEMBER 2021 Plans for the Future The Trustees revlewed the Trusvs strategy In November 2021 and considered each grant programme alongside the founderfs original guidance to Trustees, evidence of the impact of previous award5, feedback from grant-holder5, and information abDUt the broader policy and funding landscape for the universities, NHS organisations and charities that the Trust Supports. All these indicator5 Showed that the Trust's programmes were effective and had delivered their intended public benefit. The Trustees nevertheless agreed to refine the Trust's non-research programmes to ensure the Trust continues to focus Its funding in areas where it can make the greatest difference. The changes were also infornied by feedbackfrom previous grant-holders and other analyses of emergin8 priorltie5 for NHS organisations and care charities as they begin to recover from the pandemlc. As noted in earlier sect10115 of this Repurt, the Trust has previously run two programmes offering SMBII awards to support charities, core costs: the Hospice Fund, which offered core cost awards of £5,000, and the Ann Rylands Small Donations Programme which offered awards of up lo £2,5LYJ for etther core costs or to support a specrflc project. Wlth effect from I, January, 2022 the Trustees agreed that the criteria for the Ann Rylalld5 Small Donations Programme should be revised to include end of life core. and the maxlmum level for awards increased to £5,OfX). This change will enable the Trust to maintain 5UPWrt for smaller hospI￿s- including hospice at home services- that may not have the fundraising infrastnjcture of larger hospices orthat re￿1ve lower levels of statutory fundin& and so help them to sustain existing provision. The Trustees also agreed to re-focus the capital funding for care projects previously offered through the Medically Related Donations Programme. The new Innovation and Improvement in Hea￿h and Care Funé launched In February 2022 and will support capital investment to improve Se￿I(e$ or faciltties for people living with serious long-term or life-limiting conditions. Specificalty, the new Fund alms to support the dÈveloprnent of new models of health and care and the integration of health and care Servi￿5. Applications May address any area of physical or mental health or disability, Including end of life care. Applicalions will need to demonstrate that the investment wlll translate into improved outcomes for peoplè using services, enhance aC￿sS to service5 or improve their resilience. The Trust will in particular look to support projects which are either scalable ar repllcable by other organisations, and therefore have the potential to delNer benefits beyond a single setting. The Trustees consider the Trusys research programmes to be working well and agreed that the Sir Jules Thorn Award should tontinue in Its current fomi. The Trust will also continue to provide capital investment to support outstanding translational research but- gNen chan8es to the Medically Related Donations Programme noted above this capital funding will now be offered through a Se￿rate Research Infrastructure Fund. The Trustees reviewed the Trust's PhD Programme and concluded that while the Trust continued to attract strong applications, the scheme was too small to meet its 0ri8inal objettives. The Trustees therefore agreed that the funds should be reallocated to support a fellowship scheme to support potential futu￿ leaders develop a clinical research career. The Trust is considering a number of options in Ilaison with potential partner5. The Tnjstees conslder that the Trust has very adequate funds to meet rf(s current obligation5 and to finance its planned activitie5. Financial Review The endowment provided by Sir Jules Thom remains the source of fvnding for the Trust's Erant-making activitie5 and its day to day operations. As explained below, the Trust operates a total return approach which enables a prudent amount of investment gains made in previou5 years to be used to augment distributions. The Trust IS therefore not solety reliant on the level of it5 investment Income in determining how much it is able to distribute in any one year.

THE SIR JULES THORN CHARITABLE TRUST REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31" DECEMBER 2021 Incorne of £1,411,068 was rece￿ed during the year from the investment portfoli05 managed from February 2021 by Baillie Gifford, Sara5in and Partners, Ruffer and Vanguard. (The Trust's funds previously managed by Ninety One Asset Management were held in Accumulation Units in their DNersrfied Growth Fund which did not make income distributions in the first two months of the year). Total expenditure commrtments were £5.815,069, which included net grants of £5,652,470 and Investment Manager5, Costs of £162,599, resutting in a deficrt of E4,404,Wl which was augmented by net Investment galns of £4,775,980, from all investment funds, making an overall surplus for the year of £371,979 12020 Surplus £6,597,429). This increased total funds held a5 at 31 . December 2021 to £128,835.02012020£128,463,0411. Detalls of transfers between general and endowment fLbnds are detailed bek)w. Reser4es Policy U nder the tem)s of the Trust Deed the Endowment Fund is expendable at theTru5tees' dlscretion and provide5 the reSoUr￿S to finance the Trust's artivitie5, including its administration. It is the Tru5tees' intention that the Trust's grant-making should contlnue for the foreseeable future and. as a consequence, the Investrnents in the Fund are managed on a long-term basis, as described below. The Trustees aim to have a sustainable dlstribution policy which malntalns the level of charf(able giving provided it is prudent to do so. They have adopted a total return approach designed to ensure that a sustainable level of investment gains is distributed a5 grants. Investment income is reinvested in the Fund and expenditure is financed by cash wrf¢hdrawn accordinsto a forrnula whlch recogntses that some past capltal galns can be safely distributed, provided that the ability of the Fund to generate adequate returns 5nto the future is not compromised. The current fom)ula provides for up to 3.5% of the market value of the Fund, averaged over the previous three years, to be wlthdrawn, subjert to the value of the fund remaining above a minimum level. In 2020, the Trustees have authorised an addttional transfer from endowment fund5 to cover the shortfall in unrestrlcted funds needed to finance the grants awarded in the year. This is presented as a transfer between funds of £4,241,299 in the statement of financlal actlvities. The Trust doe5 nol need to retain unrestrlcted income funds as reserves although in some years such funds can remain due to the timing of commTtments. There were no such balances extant at 31 December 2021. At the year end the value of the Endowment Fund was £128,835,020 which the Trustees consider appropriate in the context of the above policy. Investment Pollcy The Trust Deed does not impose any restriction on the Trustees, powèr to invest. The endowment funds are invested for the long term under the profèssional guidance of The Trusys Fund Managers, who operate with dlscretionary mandates but subjecl to guidelines defined in the Trustees, Statement of Investment Prirbciples. As noted previously, the Trustees undertook a review of the Investment Pollcy during 2020. which included an external assessment of the Funds, asset allocations and managers. perfomiance. Following that revlew, the Sub- Committee invited tenders to asse55 alternative approaches and test perfomiance and value for money. The Trustees approved the SukFCommittee's reeommendations in November 2020, and the a8reed changes were fully Implemented in February 2021. The Trustees considered the Trusvs approach to the Environmental. Social and Governance IESGI aspects of its portFolio holdings as part of their investment review, and the Sub-committee gave careful consideration to the managers, approach to ESG dtjring the tender pro￿55. The Trustees expect the investment managers to adopt an aclive policy on the eXerC￿e of voting rights in accordance with the principles of good corporate governance io

THE SIR JULES THORN CHAR￿ABLE TRUST REPORT OF THE TRU5fEES FOR THE YEAR ENDED 31ST DECEMBER 2021 published by the Institut￿nal Shareholders. Committee. ESG considerations a￿ included in the manager5, report5 to the Trustee5. The result of the Investment revlew was that the funds previously held by Cazenove and Ninety One were r@. allocated to pooled funds managed by Baillie Gifford and Sarasin and an index fund marbaged by Vanguard in order to increase the proportion of the Trusts investments held in equities to approximately 70%. This is the level that the Trustee5 consider necessary to achieve the Trust'5 investment objertive of achieving returns of 3.5% above the Consumer Prices Index ICPII, t)et of fees, measured over a rolling 3 year period. While greater exposure tD equlties carries Some risk of volatility in the short-term, the Tnjstees considerthis to be balanced by the Tru5t'5 Other more defensive investments and strong cash balances. Investment perfomiance ￿ judged against the objectNe of CPI + 3.5%. Thus for 2021 the Trust's target return wa5 8.9%. The return5 achieved during the year by the three firms of investment managers, on the assets for whlch they are resFy)nsible were.. Sarasin 9.7%. Ruffer9.7%, Baillie Gifford-11.7%. and Vanguard 16.73%. Overdll, thi5 Wds 5at15factory level of performance although the perfornian￿ of the portfolio mana8ed by Balllie Glfford has been disappointing and off-sets the more positive results delivered by other managers. The Investments Sub-committee will continue to monitor the Baillie Gifford Fund close￿. The Fund Managers provide the Trustees with a wrilten valuation and perf0rnan￿ report each quartÈr and meet with the Investments Sub-cornmittee at least On￿ per annum to review the performance of the *und5 whith they manage and respond to questions from the Sub-committee on behalf of the Board. The Trust's cash resources- £14,995,309- at the year-end - are invested to ensure that funds ere readlly available to meet grant payments and other obl￿atiOnS as they fall due. In the low interest rate environment of 2021, the Income yield on cash balances 15 modest but the Trustees regard the p￿sent 84% cash cover for all outstan Ing grant cornmitments to be appropriate, when coupled wlth theTrust'ssubstantial £128m of expendable endowment funds. The Trustees opened a cash deposit account wrth Investec Specialist Bank plc in February 2022 to take advantage of higher interest rates than currently available to the Trust from the main high street banks. Dlverslfylng theTrust's cash management is also intended to mitigate any risk of holding large balances with a single bank. The Trustees consider thèt their responsibility for the safety and performance of the Trust's investments is discharged appropriately by the arrangements set out above. when combined with the Trust's own monitoring of portfolio activity, and the annual audit procedures. Concluslons regarding Going Concern The Trustees have a reasonable expectation that the charty has adequate resources to continue its activities for the foreseeable future. The Trustees are not aware of any rnaterial uncertainties about the charity's ability to continue and accordingly, they consider it appropriate to adopt the going concern basis in preparing the financlal statement5 as outlined in the Statement of Tnjstees. Responsibilities on page 12. li

THE SIR JULES THORN CHARITABLE TRusr REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021 Trustees, responsibilitie5 in relation to the flnan¢lal ststernents The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordartce with appllcable law an(J Unlted Kingdom General￿ Accepted Accounting Practice (United Klngdom Accountlng standardsl. The law applicable to charltles in England and Wales requires the Trustee5 to prepare financial statements for each flnancial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and appllcatlon of resources of the charity for that period. In preparing these financial statements, the Trustees are requlred to: select sultable accounting policies and then apply them consistentlv- observe the meihods and principles In the Charities SORP= make judgments and estimates that are reasonable and prudent: follow applicable UKAccounting Standards and the CharitiesSORP, disclosing and explaining any departures In the accounts- and prepare the flnancial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitls transaclions, dlsclosewith reasonable accuracy at any tirne the financial position of the charity and enable thern to ensure that the financial statements compty with the Charitles Act 2011, the Charities IAccounts and Reports) Regulations 2008 and the provisions of the charitvs constttution. They are also responsible for safeguarding the assets of the chartty and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularitv. Auditor Haysmacintyre LLP has indicated its willin8ness to be reappointed as ststutory auditor for the next financial year. Approved by the Trustees and signed on their behalf by: Elizabeth Charal, Chalrman Date: 31 May 2022 12

THE SIR JULES THORN CHARITABLE TRUST INDEPENDENT AUDITORS REPORT FOR THE YEAR ENDED 31sf DECEMBER 2021 Independent auditorfs report to the TTu5tee5 of The Sir Jules Thom Ctharitsble Trust Opinion We have audlted the financial statements of The Sir Jules Thorn Charitable Trust for the year ended 310ecember 2021 whlch comprise the Statement of Financial Actlvities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation Is applicable law and United Kingdom Accounting Standards, Includlng Financial Reporting Standard 102 The Financial Reporting Stondurd upplicuble in the UK and Republic of Ireland (United Kingdom Generally Accepted Accountlng Practice). In our opinion, the flnancial statements: give a true and fairview of the state of the charity'5 affairs as at 31 December 2021 and of the chaiitws net movement In funds for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Pradice- and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We have been appointed as auditor under section 144 of the chariti￿ Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our re5pon5ibilities under those standards are further described in the auditols responslbilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audr( of the financial statemellts in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirement5. We believe that the audit eVIden￿ we have obtained is sufficient and appropriate to provide a basis for our oplnion. Concluslon5 relating to going concem In auditing the financial statement5. we have concluded that the Trustees, use of the going con￿rrn basis of 4ccounting in the preparat￿n of the flnancial ststements is appropriate. Based on the work we have perfomled, we have not identrfied any material uncertainties relating to events or condStions that, individually or collectivety. may cast significant doubt on the charl￿S abllity to continue as a golng concern for a pertod of at least twelve rnonths from when the flnancial statements are authorised forlssue. Our responsibilities and the re5ponsibilttie5 of the Trustees with respect to golng concern arè described in the relevant sections of thls report. Other infomiatlon The Trustee5 are responsible for the other information. The other infomiatlon comprlses the inforniation included in the Trustees, Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not eXp￿sS any form of assuran￿ concluslon thereon. In connection wlth our audit of the financial Statements, our responsibilty is to read the other informatiC•n and, in doing $0, consider whether the other information is materially inconsistent with the financial statements or ovr knowledge obtained in the audit or otherwise appears to be materialfy misstated. If we identify such material inconsistencies or apparent material misstatements, we a￿ required to detemiine whether there Is a materlal misstaterrènt in thefinancial staternents ora material mi55tatement of the other Information. If, based on the work we have ￿rformed, we tonclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in thi5 regard. 13

THE SIR JULES THORN CHARITABLE TRUST INDEPENDENT AUDITORS REPORT FOR THEYEAR ENDED 31sf DECEMBER 2021 Matters on whlch we are requlred to report by exception We have nothing to report in respect of the following matters in relation to which the Charities IAccounts and Report51 Re8ulations 2008 require us to report to you if, in our opinion: adequate accounting records have not been kept by the charitytr or Sufficient accounting records have not been kept,. or the charity's financial statements are not in agreement with the accounting records and retUrn5,' or we have not received all the infom)ation and explanations we require for our audit. Responslbllltles of Trustees for the financlal statements As explained more fully in the Trustees, responsibilities statement set out on page 12. the Trustees are responsible for the preparation of the financial statements and for belng satisfied that they give a true and fair view, and for such internal control as the Trustees detemiine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitrfs ability to contlnue as a going concern, disc105ing, as 8ppllcable, matters related to going concern and uslng the going concern basis of accountinE unless the Trustees either intend to Ilquldate the charity or to cease operations, or have no realistic alternative but to do so. Auditorfs responslbllltles for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from materlal mlsstatement, whether due to fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable assurance 15 a high level of assurance but is not a guarantee that an audlt conducled in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can 3rise from fraud or error and are considered material if, indlvldually or in the aggreBate, they could ￿o50nabty be expected to influence the economic decisions of user5 taken on the basis of these financial Statements. Irregularf(ies. including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responslbllities, outlined above, to detect material misstatement5 in respect of irregularilies, Including fraud. The extent to whlch our procedu￿5 are capable of detectlng irregularities. including fraud is detailed below: Based on our understanding of the charity and the environment in which it operates, we identified thatthe prlnclpal risk5 of non-cornpliance wlth laws and regulations related to the regulalory requirements of the Charltv Commission, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a dlrect impact on the preparatlon of the financial statements such as the Charities Art 2011, Charwtie5 SORP120191 and payroll taxe5. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of override of controls. Audit procedures performed by the engagement team included: Enqulries of management regarding correspondence with re8ulators and tax authorltles. Dlscussions with management including consideration of known or 5U5pected instances of non- cornpliance with laws and regulation and fraud,. Reviewing the contro15 and proCedU￿S of the charlty, Particularly in relation to 8rant payments, to ensure these were in place throughout the year: Evaluating management's contro15 ijesigned to prevent and detect irregulartties; and Reviewing and testing journal entries made in the year. particularly those made as part of the year end financial reporting process. 14

THE SIR JULES THORN CHARITABLE TRUST

INDEPENDENT AUDITORS REPORT

FOR THE YEAR ENDED 31[st] DECEMBER 2021

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements 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 section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. 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’s trustees as a body for our audit work, for this report, or for the opinions we have formed.

Haysmacintyre LLP 10 Queen Street Place Statutory Auditors London EC4R 1AG Date: 31 October 2022

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

THE SIR JULES THORN CHARITABLE TRUST STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31ST DECEMBER 2021 Notes Unre5tr1cted Endowment Funds Funds 2021 2021 Total Funds 2021 Total Funds 2Q20 INCOME AND ENDOWMENTS Income from Investments 1,411.068 1,411,068 972,318 Total Income and Endowmerrts 1,411,068 1,411,068 972 318 EXPENDITURE Expendlture on Raising FwKIs Investment Management Costs 162.599 162,599 489,073 Expenditure on Charftsble ArtI￿tieS Grantmakin8 Medical Research Grants Medicalty Related Grant5 Hospice Fund Small Donations Scheme 2,986,675 1.618,552 545,876 501,367 2,986,675 1,618,552 545,876 501,367 104,444 1,135,525 589,565 458,159 5,652,470 5,652,470 2,232,693 Total Expenditure 5,652,470 162,599 5,815,069 2,815,766 Net Operating (Deficit) forthe Year 14,241.4021 1162,5991 14,404,001) 11,843,448} Net Gains on Investments 4,775,980 4.775,980 8,440,877 Net IncomellExpenditurel for the Year 14,241,402) 4,613,381 371,979 6,597,429 Transfer Between Fund5 4.241,402 14,241,402} Net Movement in Funds 371.979 371,979 6,597,429 Reconciliation of Funds Balance brought forward At l January 2021 128,463.041 128,463,041 121,865,612 Total Funds ca￿led Forward At 31" December, 2021 128R35.020 128,835.020 128.463.041 The notes on poges 19 to 28lomi portof thesefinonciulstotements 16

THE SIR JULES THORN CHARITABLE TRUST BALANCE SHEET FOR THE YEAR ENDED 31" DECEMBER 2021 Notes 2021 2020 FIXED ASSErs Furniture and flttln8S Investments 5.681 131.591,102 7,338 136,873,808 131,596,783 136,881,146 CURRENT ASSETS Debtors &Accwed Income Cash ai bank and in hand 112.332 14,965,309 107,296 7,426,534 15,077.641 7,533,830 CREDITORS: amounts falling due within one year Grant commitments Creditors 4,963,933 55,896 5,210,935 176,016 io 5,019.829 5,386,951 NETCURRENT ASSErs 10,057,812 2,146,879 TOTAL Assrrs LESS CURRENT LIA8ILrnES 141,654.595 139,028,025 CREDITORS.. amount falling due after more than one year Grant commltments 12,819.575 10,564,984 NET ASSETS li 128,835,020 128,462,041 THE FUNDS OFTHECHARrrY Endowment funds Unrestricted income funds 128,835,020 128.463.041 Total Charlty Funds I28￿35.020 128.463,041 The flnancial statements were approved and authorised for issue by the Trustees and were signed on their behalf by.. Chairman Date: 31 May 2022 The ngtes on poges 19 to 28fvrm part of the5eflnonclolstatements 17

THE SIR JULES THORN CHARITABLE TRUST CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2021 Notes 2021 2020 Net cash loufflowl from operating actlvfties IA) 13,628,064) f5,533,685J Net cash inflow from Investlng activftles IBI 11,166,839 4,021,361 {Decreaselllncrease In c•sh In ihe period 7,538,775 (1,512,324J Al Reconclllatlon of nel Incomln8 ￿sourCeS to net cash oufflow from operatifftg attivkties 2021 2020 Net income for the year Depreciation Loss on the disposal of fixed assets Management fees paid from endowment funds (Gains) on investments Receipt from Class Aclion re previous investments holdings Divldends and interest from investments Interest Income IlnereasellDecrease in debtors Increase/lDecreasel in creditors 371.979 2,385 102 268.950 14,747,830) 6,597,429 2,447 486,391 (8,428,661) 112,1241 (1,013,611) 110,777J 55,611 f3,210,574J 11,404,799) 11.2841 15,0361 1.887,469 Net cash loutflowl from operatlng artivitie5 13,628,064) 15,533,685) Bl Net cash inflow from Investlng artlvlrles 2021 2020 Cash withdrawals from Investment portfolio Interest Income fte￿ipt from Class Action re previous investments hoklings Purchase of tangible fiyed assets 11,166,385 1,284 4,000,000 10,777 12,124 (1,5401 18301 11,166,839 4,021,361 C) Analysis of changes in net C85h funds Ati January 2021 Atai CashflDWS December 2021 Cash in hand 7,426,534 7,538,775 14,965,309 Total cash and cash equivalents 7,426.534 7,538,775 14,965,309 rhe ntstes on poges 19 to 28AonTr port of thesefinunciLII stotements 18

THE SIRJULES THORN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021 I. PRINICIPAL ACCOUNTING POLiaES Basis of accounting The Trust Is a registered charity In England and Wales and as such is a Public Benefit entty. Governed by its Trust Deed, dated 18 February 1964. The Trust's Charlty Commtssion registration number is 233838 and rts registered address is 24, Manchester Square, London, WIU 3TH. The financial statements have been prepared under the histor￿1 cost convention as modified by the revaluatlon of investments and in accordance with Accounting and Reportin8 by Charities.. Statement of Recommended Practice ISORP 20191 applitsble to charities preparing thelr accounts In accordan￿ with the Financial Reportlng Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charitie5 Act 2011. The funclional currency of the Trusl is considered to be GBP because that Is the currency of the prlmary economlc environment in whlch the charity operates. After making enquirie5, the Trustees have a ￿8$onable expectation that the charity has adequate resources to continue its activitie5 for the foreseeable future. The trustees are not aware of any rnaterial uncertainties about the charitqs abillty to contlnue and actordlngty, they conslder ft appropriate to adopt the going concern bas￿ in preparing the financial 5tatement5 a5 Outlined in the Statement of Trustees, Responsibilttie5 on page 12. bl Crltlcal accountlng judgements and key sources of estimation uncertainty In the application of the chariV5 accounting policie5. which are described in thls note. Trustees are requlred to make judgements. estimates and assurnptions about the carrying values of assets and liabilities that are not readlly apparent from other sources. The estimates and undedying assumptions a￿ based on historlcal experien￿ and other fartor5 that are considered to be relevant. Actual results may dtffer from these estimates. The estimates and undertying assumptions are reviewed on an on-going basis. Rèvisions to accounting estimates are recognised in the period in whlch the estimate is revised if the revision affetts Dnly that period, or in the period of the revlslon and future periods. In the view of the Trustees. no assumptions concerning the future or estimation uncertainty affecting a￿et5 and Ilabilities at the balance sheet date are likely to resuft in a material adjustmentto their carrying amounts in the next financial year. The principal accounting policies adopted, judgements and key SoUr￿S of estimation Un￿rtaintY in the presentation of the financial Statements are as follows- Income from Investments Dlvldend, Interest and other income is accounted for on an accruals basi5 and is shown gross of any associated tax credits recoverable. dl Grants and donations payable Grant5 and donation5 are recognised in the Statement of Financial Attivlties based on the commitments made during the year. Because most projects last for more than one year the total of amounts committed but not yet paid is shown split between current and bng-term liabilities. 19

THE SIR JULES THORN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31¥f DECEMBER 2021 Flxed asse1$ and deprKiation Fixed assets over £500 are capitalised. Depreciation Eg provided on fixed assets. in orderto write off the tosi trf the a55et5 over thelr expected useful lives estimated residual values, at the following rates- Office equipment FKture5 and fittings 20% p.a. straight line 20% p.a. straight line Investments Investments are stated at mid-market value at the year end. The Statement of Financial Activltles Includes the aggregate of realised and unrealised gains and105ses durlngthe year. gl Basis of allocation of costs Cost of genert7tingfunds The cost of generating funds represents amounts paid to the Tru5t'5 external investment managers. Support costs These cost5 are incurred dlrectly in the delivery of the Trust's charitable activities. These costs are based on the percentage of tirne that a resource is used in the application of grants administration and as50Ciated activities tQ8ether with the overhead costs of the charity. Governorpce costs Governance costs comprise costs incurred in Trust administration and compliance with regulatory requirements. Staff costs are calculated as a percentage of time cornmitted. h) Portfollo management fees The cost of managing the Trust's investment portfolio is met from Endowment Fund5. PortFolio management fees are recognised on an accruals ba51S. Penslons Contributions were made to all ernployees, personal pension schemes in accordance with their employment contracts. All such contributions are expensed through the Statement of Financial Activltles In the year in which they are due. Funds Endowment funds represent the investment assets derlved from the orlginal gift from Sir lules Thom. The endowment is expendable at the discretion of the Trustees. kl Finanaal Instruments Financlal assets and financial liabilities are recognised when theTru5t becomes a party tothe contractual provisions of the instrument. Additionally, all financial assets and liabilities are classified according to the substance of the contractual arrangements entered into. Flnancial assets, comprised of cash, other debtors and accrued income, and financlal liabilities, comprised of grants payable, other cred&tots and accruals. are Inwtially measured at transartion price lincluding transaction costs) and 20

THE SIR JULES THORN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" DECEMBER 2021 are subsequently re-measvred where appllcable at amortlsed cost except for Investments which are measured at fair value with 8aSns and105ses recognised in the statement of financial actNit￿S. The Trusys investment managers enter into forward rate currency contracts to manage its exposure to fluctuation5 In exchange rates within the investment portfolio throughout the year. These contratts are recognised at fair value wlthln the overall valuation of the investment portfolio with gains or bsses recognised in the Statement of Financial Attivities. sets and liabiltties held in foreign cyr￿ncY are translated to GBP at the balance sheet date at an appropriate year end exchange rate. 2. INCOME FROM INVESTMETrirs 2021 2020 Listed investments Cash- Interest Intome 1,409,784 961,541 1,411.068 972,318 3. ANALYSIS OF TOTAL EXPENDITURE Ann Rylands Small Donations Medical Research Grants Medically- Related Grants Raising Funds Hospice Fund Total Expenditure 2021 Investment Managernent Fees Grants Awarded staff Costs Support Costs Depreciation & L055es Governance 2021 Activity Totsl 162,599 162.599 5.283.094 162.544 110,45Y) 2,8￿,644 31.108 40,838 622 23,463 2.986,675 I,5￿,C￿￿) 41,847 38,168 995 37,542 1.618.552 471,250 37,241 18,116 498 18,771 S45￿76 421,200 52,348 13,368 373 14,078 501.367 93,854 5,815,069 162.599 2020 Investment Monagement Fees Grants Aw(yrded Speciol Awurd staff Costs Support Costs Depreciation Governonce 2020 Actlvity Totol 489,073 489,073 1,915,034 f_5) 903,LW I￿.(KR) 46.570 42,774 1053 43,128 1,135.525 515,CW 398,039 37.021 39.815 658 26,955 104,444 39,766 21,709 526 21,564 598,565 57,316 16,236 395 16,173 488,159 180.673 120,534 2.632 107,820 2,815,766 489,073 Full details of grunts t7worded in the year are on pages 29 to 42 of thi5 report 21

THE SIR JULES THORN CHARITABLE TRUST NOTESTO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31- DECEMBER 2021 SUPPORT COSTS 2021 2020 Staff Costs Rent, rates and Service char8es Other 162,544 58,127 54,748 180,673 57,972 65,194 275,419 303,539 Governante Costs Staff costs Trustees & Peer Reviewers Expenses etc Consultancy fees Audlt fee Legal fees 73,170 884 79,330 11,40D 16,998 92 19,760 40 93,854 107,820 Total Support and Governance costs 369,273 411,659 4. sfAFF COSTS 2021 2020 Salaries Employerfs National Insurance Pension and Death in SeNice Contributions 198,103 19,688 17,766 216,858 20,103 16,631 235,557 253,592 The number of employees whose emoluments are above £KJ,CX)O during the year was-_ No No £90,000- £100.(YXJ The average wee￿Y number of persons employed by the Charity during the year was.. Administration and Governance No No The total amount of employee benefrts received by key management in the year ended 31, December 2021 was £116,27212020- £114,374) including Empbyerfs National Insurance Contributions. TRusfEES 2021 2020 Total emoluments Nil Total reimbursement of expenses 569 NIL 4 Trustees received travel and meeting expenses in the year.12020- 0 Trustees- £NILI 22

THE SIR JULES THORN CHARITABLE TRUST NOTESTO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 315T DECEMBER 2021 5. RELATED PARTIES There are no related party transactions or balance5 which require disclosure within the financial statements during 202112020.. NIL). 6. TANGIBLE FIXED ASSErs Flttlngs and Equlpmenl Cost at l January 2021 39,823 Additions Dlsposals 830 15,7501 At 31 December 2021 34,9)3 Depreciation At l January 2021 Charge forthe year Disposals 32,485 2,385 15,6481 At 31 December 2021 29,222 Net book value At 31 December 2021 5,681 At 31 December2020 7,338

THE SIR JULES THORN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31ST DECEMBER 2021 7. INVESfMENTS 2021 2020 Market value at l January 2021 136,873,808 131,917,927 Investment income received Cash fund wlthdrawa15 1,404,799 111,166,385) 1,013,611 {4,000,0(KII Net movement in investment cash balances 127,112,222 128,931,538 Net gains on investments 4.747,83D 8,428,661 Net Management fees paid 1268,9501 (486.391J Market val¢Je at 31 December 2021 131,591,102 136,873,808 Cost at 31 December 2021 129,403,280 120,414,250 Investments at year end were made up a5 follows: 2021 2020 UKequities UK fixed interest securities Overseas equlties Overseas fixed interest seajrities Managed fund5 Forward foreign exchange Other Cash 5,043.485 7,334,924 8,282.683 5,183,0(X) 101,069.929 147,273 2.678,797 1,851,011 11,994,034 3,855,661 37.055,495 635,869 51,468,520 67.489 19,753,661 12,043,078 Total 131,591,102 136,873,808 Portfolio Management Fee5 Investment management fees incurred in the year were: 2021 2020 Cazenove-to February 2021 Ruffer Sara5in- Fees Rebated Net charge to SOFA 30,820 277,015 145 236 162,599 206,879 282.194 489,073 Fees Arrt7ngement with Sarusln Included in the costs ofunits held within thisfund is embeddedfte. Thi5fee is higher thon that agreed by the Trustees und so thefund manoger mukes a rebote directly to thefund, which is reinvested in additional units. Forward contracts The Trust is committed to purchasing a total of USD £NIL12020.' USD £517,122). EUR £NIL12020.' EUR £925,019), IPY £NIL12020.' JPY£2,844,1841 under forward rate contracts at 31 December 2021. 24

THE SIR JULES THORN CHARITABLETRUST NOTESTO THE FINANCIALSTATEMENT5 ICONTINUEDI FOR THE YEAR ENDED 31ST DECEMBER 2021 The Trust Os also committed to sèlling a total of USD £3,147.07112020.' USD £NILI, EUR £780,96112020.' EUR £NILI, IPY £2.631,96012020.' JPY£NILI. under forward rate contracts at 31 December 2021. All contrart5 mature on 13.1.22 and are ir7cluded within the investment portfolio at a market value of £147,273 Iprofitl at 31 December 202112020.. £67.488-profitJ. 8. DEBTORS 2021 2020 Accrued income Prepayments 92,690 19,642 88,015 19,281 112,332 107,296 9. GRANT COMMITMENTS 2021 2020 Forward commitments at l January 2021 Commitrnents made during the year Adju5tment5 re Grdnts made in Previou5 Years Amounts paid during the year 15,775,918 5,311,844 128,750 {3,275,5041 19,00,436 2,016,480 flQl,446J (5,139,552) Forward commltments at 31 December 2021 17,783,508 15,775,918 Forward commitments at 31 December 2021 in ￿SpeCt of ongolnB projects were a5 follows- 50 Anniversary Award Medical Research Grants Medically Related GrawrtS Hosplce Fund Ann Rylands Small Donations Scheme 5,000,000 8,637,189 4,146,319 5,800,000 7,519,069 2,413,294 43,555 17,783,508 15,775,918 Split as follows: Amounts due wlthln one year Amounts due after one year 4.963,933 12,819,575 5,210,935 10,564,983 I7,783￿08 15,775,918 10. CREDITORS 2021 2020 Attruals Taxation- PAYEINIC Portfolio managernent fees 20,102 10,703 25,091 33,496 11,078 131,442 55,896 176,016 25

THE SIR JULES THORN CHARITABLE TRUST NOTESTO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 315T DECEMBER 2021 ANALYSIS OF NEf ASS￿5 BEPNEEN FUNDS Ila. ANALYSIS OF NEf ASSEfs BEfwEEN FUNDS Investments Tan8ible Fixed Assets Other Net Liabllltles Total Funds Unrestricted funds Endowment funds Total funds 131,591,102 131,591,102 5,681 5,681 12,761,763) 12.761,7631 128,835.020 128,835,020 ANAL Y515 OFNET ASSEfs BETWEEf4 FUNDS2020 Investments Tungible FlxedA55ets Other Nrt Ltabilitles TotolFunds Unrestrictedfunds Endowmentfunds Totalfvnds 136,873,808 136,873,808 7.338 7,338 (8,418 105J 128,463,041 (8.418,105) 128 463,041 Ilb. RECONCIUATION OF FUNDS Funds bllwd at 1.1.21 Income Expenditure TransfeT5 Gains and Funds clfimd Losses at 31.12.21 Endowment funds Unrestricted funds Total Funds 128.463,041 1162,5991 14,241,402) 4,775,980 128,835,020 1.411.068 15.652.470) 4.241,402 128,463,041 1,411.068 15,815J)69) 4,775,980 128,835,020 RECONCILIA TION OF FUP40S 2020 Funds b/fvd otl.1.20 Income Expendlture Tronsftrs Guins and Funds c/fvd losses at 31.12.20 EndowmentAunds 121.865,612 f489,073J (1,354,375J 8,440,877 128,463,041 Unrestricted funds Tot(vl Funds 972,318 12,326,693) 1.354,375 121,865,611 972.318 2,815,765 8 440,877 128,463,041 The Endowment funds represent the investment assets derived from the original gift from Sir Jule5 Thorn. The endowment Is expendable at the discretTron of the Trustees. The Trustees have èuthorised an additional transfer from the endowment to unrestritted fund5 in order to finance grants awarded in the year. 26

THE SIR JULES THORN CHARITABLE TRUST NOTES TO THE FINANCIALSTATEMENTS {CONTINUED) FOR THE YEAR ENDED 31" DECEMBER 2021 12. OPERATING LEASE COMMITMENrs Total future minlmum lease payments due under non-cancellable operating lease at the end of year are as follows.. 2021 2020 Land & Buildings Due not later than one year Due not later than one year but not later than fwe years Due later than five yea 47,OC(I 11,750 47,000 58,750 Total future mlnlmum lease payments 58,750 105,750 Lease payments recognised as an Expense in the year totalled £47.<￿ (2020.'£47,OL￿J 27

THE SIR JULES THORN CHARITABLE TRusr NOTESTO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31sf DECEMBER 2021 13. COMPARATIVE STATEMENT OF FINANaAL AcTIV￿lEs Notes Unrestricted Endowment Funds Funds 2020 2020 Total Funds 2020 Tot(Jl Funds 2019 INCOME AND ENDOWMENTS Income from Investments 972.318 972,318 1,598,176 Total Income and Endowments 972,318 972,318 1,598,176 EXPENDITURE Expendlture on Raisin8 Funds Investment Management Costs 489,073 489,073 509,259 Expenditure on Charitable Activitie5 Grantmaklng Medlcal Research Grants Medically Related Grants Hospice Fund Small Donations Scheme 104,444 1.135,525 598.565 488,159 104,444 1,135,525 598,565 488,159 2,064.442 1,022,724 251,517 362,399 2.326,693 2.326,593 3,701,082 Total Expendlture 2.326,693 489.073 2,8IS,766 4,210,341 Net Operatin8 IDefl¢lt} forthe Year 11,354,375) 1489,0731 11,843,448) (2,612,1651 Net Gains on Investmenls 8.440,877 8,440,877 11,970 869 Net IncomellExpenditurel for the Year 11.354,375) 7,951.804 6,597,429 Transfer Between Funds 1,354,375 {IA54,3751 Net Movement In Funds 6,597,429 6,597.429 9,358,704 Reconclllatlon of Funds Balance brought fonvard At I" January 2020 121,865.612 121,8S5,612 112,506,908 Total Funds Carrled Forward At 31 Oecember, 2020 128,463,041 128,463,041 121,865,612 28

THE SIRJULES THORN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31ST DECEMBER 2021 MEDICALRESEARCH GRANTS THE SIR IULESTHORN AWARD FOR MEDICAL RESEARCH Imperial College London DeflnlnB the genetic bas15 of cardiomyopathies for precision medicine 5-year project 1.592,891 TotulJTA Awards 1,692,891 PhD kholarshlps Univer51ty of Edinbur8h Predicting rehabllltatlon needs and trajectories for hospltalised older people Universlty ol Sheffleld Replacing deficit microglia in a zebrafsh model of a childhood hurnan leukodystrophy as a new therapy 111,527 112,000 Total PhD Awards 223,527 Translatlonal Blomedlcal Research Award Unlvershty of Oxford First trimester placental ultrasound to predict foetal growth restriction- The OXPLUS Study - 3-year projert 974,226 TOTAL MEDICAL RESEARCH AWARD5 2.890,644 29

THE SIR JULES THORN CHARITABLE TRUST NOTES TO THE FINANCIALSTATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2021 MEDICALY RELATED DONATIONS Llnden Lodge Charitsble Trust New playground for Linden Lodge School Prevent Breast Cancer Development of National Breast Imaging Academy The Murray Parish Trust Specialist equipment for Southampton Children's Hospital Universlty of Cambridge Cambrldge Neurological Advanced Therapies Treatment Centre: Intra- Operative MRI room Uni¥erslty of York Cell 50rtin8 equipment for the HRA Approved York Thssue Bank Wallace and Gromivs Grand Appeal Soft space in A&E for Bristol Children's Hospital so,000 350,0(M) 165,0 4￿,0[￿1 450,000 85,000 TOTAL ADJUSfMENTS TO COMMITMEr￿S IN PREVIOUS YEARS TOTAL 1.500,000 30

THE SIR JULES THORN CHARITABLE TRU NOTESTO THE FINANCIAL sfATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31" DECEMBER 2021 SCHEDULEC- HOSPICE FUND In orderto support the Hospice Sector during the pandemic in 2020 the Trustees made 3 decision to fund two tranches of the Hospice Core Costs programme. ThLs declsion was continued in 2021. Firstly, in May 2021 when £260,0￿ was awarded and then again in November 2021 when a further £240,000 was awarded. NUMBER ACCORD Hospice Acorns Children's Hospice Trust Ardgowan Hospice Arthur Rank Hospice Charity Ashgate Hosplcecare Ayrshire Hospice Children's Hospice South West Compton Care Group Cope Childrens Trust Cornwall Hospi￿ Care Dorothy House Hosp￿@ Care Douglas Macmillan Hospice Earl Mountbatten Hospice East Anglia's Children's Hosplces Easl Cheshire Hospice Ellenor Garden House Hospice Care Greenwich & BeKley Community Hospice Hadington Hospice Association Haven House Foundation Heart of Kent Hospice High Peak Hospice Care (Blythe House Hospicecare) Hospice at Home Carli51e and North Lakeland Hospicecare North Northumberland Hospice of The Good Shepherd Hospice of the Valleys Hospiscare Isabel Hospice Katharine House H05pice Katharine House Hospi￿ Tnjst Keech Hosplce Care KEMP Hospice Kilbryde Hospice Lakelands H05pice Lewis-manning Hospice Care Lindsey Lodge Hospice Longlield H05pice Care Martin House Children's Hospice Mary Ann Evans Hospice Mountbatten Hosplce Charlty Llmkted Noah's Ark- The Children's Hospice 5,0Th) 5,OC(I 5.oc 5,000 5,000 5,000 5.0( 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 s,000 5,000 5,000 5,000 5,000 5,000 5,000 5,fKJO 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,[)00 5,000 5,000 5,000 5,CK)O 5,000 5,000 io li 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 31

THE SIR JULES THORN CHARITABLE TRusr NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2021 42 43 North Yorkshlre Hospice Care Nottinghamshlre Hospice Oakhaven Hospice Tnjst Overgate Hosplce Paul Sartori Hospi￿ at Home Pilgrims Hosplces In East Kent Prirnr05e Hospice Prospect Hospice Limrted Rennie Grove Hospice Care Richard House Trust Rowan5 H05pice Rowcroft House Foundation Ltd Royal Trinity Hospice Saint Catherine'5 Hospice Trust Shootlng Star Children's H05pices Springhill Hosplce St. Luke's Hospice IBasildon & District) Limited st. Michael's Hospice North Hampshlre St Ann's H05pice St Barnabas Hospice, Lincolnshire 5t Catherine's Hospice, Lancashire St CLtthbert's Hospi St David'5 Hospice Care St Elizabeth Hospice Isuffolkl St Gemma's Hospite St Kenligern H05pice St Luke's Hospice St Luke'5 H05pice (Harrow and Brent) St Margaret's Somerset Hospice St Michael'5 H05pice St Michael's Hosplce lincorporating the Freda Pearce Foundation). St Nicholas Hospi￿ (Suffolkl St Oswald's Hospice St Peter & Sl James HOSPI St Richard's Hospice Foundation St Wilfrid's Hospite (Eastboumel St Wilfrid's Hospice (South Coastl ITD Teesside Hospice Thames Hospice The City Hospice Trust Limited The Five Towns Plus Hospi The Hartlepool Hospice Limlted The Hospice Charity Partnership The H05pice of St Francis {Berkhamstedl The jessie May Trust The Martlet5 Hosplce Limited The Mary Stevens Hospice The Myton Hospices The Rotherham Hospice Trust 5,OC() 5,QLXJ 45 46 47 48 49 so 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 S,CQO 5,1X)O 5,WO 5,(K)O 5,LK)O 5,000 5,000 5,000 5,000 5,000 5.0 5.OlJ) 5.OtK) 5,0 5,000 5,DOO 5,000 5,WO 5,000 5,000 5,000 5,000 5,OOD 5,000 5,000 5,000 5,000 5,000 5,000 5.000 5,000 s,￿0 s,￿0 5,WO s,￿0 5,QK)O 5,000 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 32

THE SIR JULES THORN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31- DECEMBER 2021 91 92 93 Treetops Hospice Trust Tynedale Hospi￿ at Home Wakefield Hospice Weldmar Hospicecare Wessex Children's Hospice Trust Wigan and Lelgh Hosplce Willen Hospice Wirral Hosplce St John's Woking & Sam Beare Hospice Zoe's Place Trust 5,000 95 96 97 98 99 loa TOTAL ADIUSTMENTS TO COMMIThIENTS IN PREVIOUS YEARS 128,7501 TOTAL FOR THE YEAR £ 471,250 33

THE SIR JULES THORN CHARITABLE TRUST NOTESTO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31- DECEMBER 2021 SCHEDULE D-THE ANN RYLANDS SMALL DONATIONS GRANT PROGRAMME Award Amount Number Total £3,000 3,000 f 2,5CK) 2,SOO £2,000 4,1JJO £1,750 15,750 £1,5(K> 98 147,(K)O £1,250 91 113,750 £i,oc 135 135,200 TOTAL AWARDED IN YEAR £42L2

THE SIR JULES THORN CHARITABLE TRUST NOTESTO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31sf DECEMBER 2021 SCHEDULE D- THE ANN RYLANDS SMALL DONATION5 GRAiif PROGRAMME IDetailedl NUMBER Samaritan'5 Cambridge 3,000 Horatlo's Garden 2,5C(I ExmoorCa￿ertT1ust Scottish Huntington's Association 2,000 2,000 Huntington's Disease Association Marche5 Farnily Network Missing People Penny Brohn Cancer Car Special Needs and Parents Llmlted The Peter Pari Centre for Children wrfch Speclal Needs We Are Beams Winston's Wish Youth Concern 1,750 1,750 1,750 1,750 1,750 1,750 1.750 1,750 1,750 io li 12 13 14 15 16 17 18 19 20 21 22 23 Abbeyfield Reading Society Activity Club for Children with Special Needs - Thumbs Up Club Age Concern East Sussex Age Concem Mole Valley Age Exchange Age UK Bath and North East Somerset Age UK Solihull Ipreviousty A8e COn￿r￿ Solihulll Age UK Sutton A8e UK West Su55e¥ Allsort5 Gloucestershire Asperger's Child￿n and Carers Together {ACCTI Aspire Asthma Relief Autisrn Bedfordshire Berkshire Multlple Sclerosis Therapy cent￿ Ltd Bipolar UK Blyth Star Enterprises Limtted Bridewell Organic Gardens British Liver Trust Bulld Charity Ltd Calibre Audio Iformerw Calibre Audio Library) Cancer Support Scoiland ITAK TENT) Canterbury & Herne Bay Volunteer Centre Ltd Cardboard Citizens Carousel Project Chrls Westwood Chartty for Children with Physical Disabilities Create- legal name- Create (Arts) Llmited Deafblind Scotland Deafblind UK 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,5DO 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1.500 1,5C)O 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 35

THE SIR JULES THORN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31sf DECEMBER 2021 43 Dens Llmf(ed Equatlon Nottinghamshlre ERIC (Educatlon and Resources for Improving Childhood Continence) FORCE Cancer Charilv Frlends for Leisure Glasgow's Golden Generation Grace House Haven First Headway East London Hearts & Minds Home-start Arun, Worthing & Adur Home.Start Banbury, Bicester & Chipplng Norton Hull Children's University Independent Provider of Special Education Advice- known as IPSEA Integrated Neurological Services Involve Kent Jo's Cervlcal Cancer Trust Lake District Calvert Trust Leeds Mind Life Cycle UK LinkAble Woking Limited Listening &ook5 Magpie Dance anche5ter Action on Street Health IMKSH Me2 Club MedEquip4Kids Microphthalmla Anophthalmia and Cobboma Support MS Therapy Centrè Lothian Music in Hospitals & Care Mustard Tree Nansa (Norfolk and Norwlch SEND Association) National Axial Spondyloarthrttis Society INKSSI Norfolk Famity Carers Open Country PARC IEssexl Paul's Cancer Support Centre Prisoners Abroad Rainbow Trust Children's CharTty React Ripon Community Link Rowan Alba Sands (Stillbirth and neonatal death charity SERVE Sheffield Mencap and Gateway Space4Autism Spina Bifida Hydrocephalus Scotland Spina5 Injuries Association Sport in Mind Springboard Opportunity Group 1,500 1,500 1,51 1,5C 1.5(KJ 1,51)) 1,51)0 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,50D 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,5(K) I,5(￿) 1,5 1,5 1,5rJo 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1.500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 45 46 47 48 49 51 52 53 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 36

THE SIRJULES THORN CHARITABLETRUST NOTESTO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31ST DE￿ MBER 2021 92 93 St Cuthbert'5 Centre St Michael's Fellowship Stick 'n' Step Sunbeams Play The Back-up Trust The Haven Wolverhampton The Hextol FoLJndation The Honeypot Children'5 Charity The Pace Centre (Pace) The Sir Oswald Stoll Foundation1Stolll The Spires Centre The Yard Thomley Time Out Group (North Westl Tiny Tickers Limited UsinaBus Waiford Sheltered Workshop Limited Whlte Lodge Cent Wintercomfort for the homele55 Woman's Trust 1,500 1,500 1,500 1,500 1,500 1,5(K) 1,500 1,500 1,500 1,5C 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 95 96 97 98 99 loo ioi 102 103 104 105 106 107 108 109 iio iii 4Slght Vision Support Age Concern E55ex (known as Age UK Essex) Age UK Ealing Age UK Wiltshire Alice (Relief of Poverty and Advancement of Community) Alternatives to Vlolence Project Britain BASIC Braln and spinal injury ￿ntre Basin8Stoke and Alton Cardiac Rehabilitation Chartty Ltd Blue Smile Brain and Spine Foundation Brighton and Hove Speak Out Britlsh Blind Sport BUR Y SOCIETY FOR BLIND AND PARTIALLY SIGHTED PEOPLE Cairns Counselling Cavendish Cancer Care Cerebral Palsy Scotland Iformerty Bobath Scotlandl Child Brain Injury Trust Cleveland Housing Advi￿ Centre ICHAC} Colostomy UK Cornwater Evergreens Foundation Trust Cotswold Frlend5 Creative Living Centre Crohn's & Coliti5 UK Dame Vera Lynn Children's Charlty Dartmouth Caring Daventry Area Community Transport Devon Link Up Disability Challengers 1,250 1,250 1,250 1,250 1.250 1,250 1,250 1.250 1,250 1.250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 37

THE SIR JULES TTrIORN CHARrrABLE TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31sf DECEMBER 2021 140 141 142 143 144 145 146 147 148 Dorset Blind ￿sOcIation East Sussex Association of Blind and Partially Sighted People Encephalitis Support Group (known as the En￿pho11t•S Society) EvelSna Children's Heart Or8anistaion Focus Birmingham Foundation for ConductNe Education Genetic Alliance UK Ltd Go Beyond (formerly CHICK51 Grampian society for the Blind Growing Well Limtled Hackney Migrant Centre Hackney Quest Happy days Children's Charity Healthy Generations Herefordshire Growlng Point Homestart Hampshire Home-start High Peak Hopscotch Children's Charity Incest and Sexual Abuse Survivors IISASI Insight - Counselling Coaching and Support Servlce InterAct Stroke Support Jubilee Sailing Trust Keynsham and Distrirt Mencap Society Kindred Advocacy Lifeworks Charity Ltd Little Hearts Matter London Wheelchair Rugby Club Magic Me Mysight York (York Blind & Partially Sighted Society) MYTIME Young Carers Northwich Multisports Outside Edge Theatre Company RAW Workshop Read for Good Relate Worcestershire Roundabout SEARCH Seesaw Shine.. Spina bFfida. Hydrocephalus, Infomiation, Netwo￿1n& Equality Souihslde Famity Projecl Spinal Muscular Atrophy UK ISMA UK) St Andrew'5 Children's Society Stars Children's Bereavement Support Services Support Through Court Survive (Support forsurvNors of rape and sexual abusel Swings & Smlles Teapot Trust SCIO The AHOY Centre 1,250 1,250 1,250 1,250 1,250 1.250 1,250 1.250 1,250 1.250 1,250 1,250 1,250 1.250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1.250 1.250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 149 150 151 152 153 154 155 156 157 158 159 Iso 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 1,250 1,250 1.250 1.250 1,250 1,250 1,250 1,250 1,250 1,250 187 38

THE SIR JULES TTrIORN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31sf DECEMBER 2021 188 189 190 191 192 193 194 195 196 The Compassionate Friends The Downrlght Special Network The Hollow Lane Club The Kent Muttlple Sclerosis Therapy Cenlre The Multiple Sclerosis Trnst The Sp￿l Charltable Trust The Surrey Care Trust Theodora Children's Chartty Tourette Association IUKI As50ciatio Trailblazers Mentoring Ltd Trust Links Ltd UKHa￿eSt Umbrella Derby and Derbyshire Waterloo Communty Counselling Wessex Cancer Trust 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 197 198 199 200 201 202 203 204 Gateway intothe Communlty Strongbones Childrens Charttable TTU5t Abused Men In Scotland Academy of St Martin in the Fields Accommodation Concern Accuro Icare Services) Acta Community Theatre Actlon for Family Carers 2 Age UK Bristol Age UK Lambeth Arts Connection - Cyswllt Celf ASSIST Sheffield Astriid Barons Court Project Bath and North East Somerset Carers Centre Bath Rugby Community Foundatlon Berkshire Autistic Society (working name Autism Ber￿h1reI Blrmingham Disability Resource Centre Bishop's Stortford Mencap Bliss=Ability Limited Boccia England Limited Bonny Downs Community Association IBDCAI Braille Chess Association BSEVC Bury Speakeasy (also known as Speakeasy) Camden Arts Centre Carers in Bedfordshire Caring in SrSstol Change Please Foundation Children's Respite Trust Cltizens Advice East Herts Citizens Advice Hilllngdon Ltd Clearvision Project I,l(K) 1,1 I,wo I,¢X>D I,(M)O 1,000 I,oc 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 205 -2efr- 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 I,￿0 I,￿0 I,wo I,￿0 i.(XlO I,LK)D I,(￿)0 I,Ix)o 1,000 1,000 1,000 1,000 1,000 1,000 228 229 230 231 232 233 234 235 39

THE SIR JULES THORN CHARITABLE TRUST NOTESTO THE FINANCIAL sfATEMENTS (CONTINUED} FOR THE YEAR ENDED 31ST DECEMBER 2021 236 237 238 239 240 241 242 243 244 245 246 247 COGS Prepar¥ 4 Lrfe CIO Communic8te Bury Community One Stop Shop Community Voluntary Action Ledbury & Distrlct Crawley Open House Dementia Support Dlsabllity Nottinghamshire Dlsablllty Solutions West Midlands Dog A.l.D. (Assistance in Dlsabilltyl Down Syndrome Development Trust {DSDTI dsdfamilies Essex Respite & Care Association E￿ratime Face Front Inclusive Theatre Fight Against Blindne55 Fight Bladder Cancer Faod Train Ltd Glasgow North West cr(izens Advice Bureau Govan Communty Project Grief Encounter Headline￿ IUKI Headway Essex Heathrow Special Needs Centre Helen Arkell Dyslexia Charity Home From Hospital Care Nomele5s People and the Oxford Churches (Gatehouse) Home-start Camden and Islington HDme-Start North Dorset Home-start York Immediate Theatre Improving LNes Notts Ltd In-Deep Community Task Force Into Work Jigsaw1South East) Jumbulance Trust Kangaroos Mid Sussex Lambeth Elfrida Rathbone Society (Rathbone) Lead Scotland Link Age Southwark Litherland Youth and Communty Centre Llttle Gate Farm Lough5hoTe Care Partnershlp Mersey Coun5elling and Therapy Centre Music Broth Musical Connections National Assocl3tion for Children of Alcoholics (Natoal Northumberland Community Enterprise Limited Northumbrian Citizens Advice Bureau Nottinghamshire Independent Domestic Abuse Servlce INIDASI 1,000 1,000 1,000 1,000 I,coo 1,000 I,￿0 I,CQD I,WD I,(x)o I,¢x)o I,(x)o I,(M)o I,CM)O 1,000 1,000 1,000 1,000 1,000 1,000 I,o(K) 1,0 I,O(K) 249 250 251 252 253 254 255 256 257 258 259 260 261 262 262 264 265 266 267 1.000 1.000 1,000 I,Ix)o 1,000 1,000 1,000 1,000 I,ooa 1,000 1,000 1,000 1,000 1,000 1,000 I,ODO 1,000 1,000 1,000 1,000 1,000 1,000 1,000 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284

THE SIR JULES THORN CHARrrABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (COPUINUED) FOR THE YEAR ENDED 31ST DECEMBER 2021 285 286 287 288 289 290 291 292 293 294 295 296 297 298 Only Connect UK Open Age Open Minds Oundle Mencap Holldays Llmited Oxfordshire As50cialion forthe Blind Parentsupport Link Platform I Positive Help Pregnancy Counselling and Care (Scotlandl S.H.E UK ISupportinE. Healin& Educating) Salvesen Mindroom Centre Scropton Riding for the Disabled Shelter Housing Advice and Rèsearch Project1SHARP) shift.ms SIFA Fireside Soundwell Music Therapy Trust South Essex Advocacy 5eTvices St Augustine'5 Community Care Trust St John end Red Cr055 Defence Medical Welfare Servt St Paul's Hostel, Worcester Stanley Grange Communtty Association Surrey Crossroads Target Ovarian Cancer Teams and Bensharn Communltycare The Amber Foundation The Body Dysmorphlc Disorder Foundation The Brigstowe Project The Carers, Resour The Cheyne Gang The Chronicle Sunshine Fund The Halow Project The Hut York Ltd The Island Trust Limited The Joshua Tree The Lwing Room The Neurofibromatosis Association The Richard Dimbleby Cancer Fund The Ryan MS ThÈrapy Centre The Veterans Fam Able Foundation The Vine Centre The Welcome Organisation Togethèr Against Cancer Together Dementla Support Uttlesford Community Trnvel Vehicles for Change Vision Support Barrow & Distrirt Walsall Rehabilitation and Heatthy Living Trust (Heart Care) West Berkshire Therapy Centre WokinEham and District Citizens Advice Bureau 41 1,000 I,wo I,ODO I,ooo I,ODO 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1.000 I,coo I,coo 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 I,￿0 I,￿0 I,￿() I,￿0 I,￿0 I,￿0 I,cK)o I,LX)O I,￿0 I,wo 1,000 1,000 1.000 1,000 1,000 1,000 I,oc 1,0 1.0 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 1,0 1,000 1,000 1,000 1,000

THE SIR JULESTHORN CHARITABLETRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2021 334 335 336 337 Yellow Door (Solentl Yeovil Freewheeler5 {EVSI Young GIoU￿sterShlre Younger People with Dementia IBerkshlrel CIO 1,000 1,000 1,000 I,O(K) TOTAL AWARDS MADE IN ThE YEAR £418,200 42