THE FOUNDATION FORSCIENCE AND TECHNOLOGY TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEfMTrER 202S Registered CIO No. Registered Charity No. 031049 274727 FOUNDATION F ENCE AND TE OLOGY CONTENTS FOR THE REPORT AND FINANCIAL ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025 CONTENTS Charity information TN8tees Report Indet*ndent Examiner'j Report Ststemeni of Financi￿ Activilies B￿ance She Notes to the Financial Ststernents 10- 16 FOUNDATLON FOR SCIENCE AND TECHNOLOGY CHARITY tNFORMATION AS AT 31 DECEMBER 2025 CHARITY ll¥FORK4TION RKGISTERED OFFICE 22 Greencoat Place London SWIP IDX INDEPENDE￿ EXAMINER Myers Clark Suite 7A. Building 6 Croxley P8rL Hatters Lane Waiford Hertfordshire WD18 8YH BANKER CAF Bank Ltd 25 King's Hill Avenuc King's Hill West Mailing Kent ME19 4JQ Pagel I FOUNDATION FOR SCIENCE AND TECHNOLOGY TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 11K Trust¢u pre￿￿ ihc annuRI report and unBudi*d Ilnan£5al sthi¢menL% for thc y¢orrDd¢d I IM Deeemb¢r 2025. Th¢ legal and adjnisi1s￿dljve iTrfonnfyiton sti uul oil page I fo￿￿% tmrt of this R¢poN. The fingn¢iol S￿lem¢n￿ Lumply with th¢ Lhariiic Aci 2011. the Coll3titulion. ¥nd ACC[￿nI1￿g artd R¢pDrting b). Chariiies.. s￿￿'￿en1 of Retotnm¢nthd Practice appliiable I chariiics pr¢pAring their xccounts ￿ ¥¢urdllnce with lh¢ finfin¢i21 R¢portsng Standard applieable in ih¥ UK and R¢publi¢ tsf Ir¢land (issued January 20191. Thc objects of the charitsbk incorwrated (Ygonisition atc.. Illl The promotion aThl development uf ￿lence and *Ch￿l08Y knd to bring th)ut the 8Nter efficitncy of thc industry of th¢ Uniicd Kingthm", and Ibl Th¥. promoiiorjofrtsearch in further2n￿'0[the 2tK)VL object and the public41ioMofthe use￿1 ￿sUltsofaThy suth research. In Order to aohl¢Y¢ the obov¢ objects. thE FoundatloD'yJJwin ￿￿vItieS aTC.' Thc orgV￿1&1￿s of dis¢us5ion cvei)Ib in impdrtial forum for reprtstntatives ul.bolh Hou5cs of ParliAmcnl, 0ftici￿S from Whitehdl and Iht Ikvolved Adminiwotions. busin¥ss l¢tsdtr& acodemits and oihGrs kn ¢kbaiL' rx>liLy IbSWLS with scicniific, L'ngineering, E¢chnolugiLxI vr mcdiL¥I ¢l¢rnLni. Lvtni$ aT¥ filmed and video5 of SPLok¥rs. prCsLn￿11OTr 511dLs8nd dCb&￿ r¢r￿ll$ar¢ uploidL'd 10gwebsiie Iwivw.l()undlliion.0rg.ukl. ond %ii¢¢ol m¥¢Jia uyedto wrnniuni¢41¢ Ihe ¢ont¢DI of the disws5ion ev¢rtt$ lo ag Wtd¢ a of p¢opl¢ ￿ pok8iblc The delivery of th¢ Fvundation Fuiur¢ Ltwkrs schemc, which brings 108ether a cohort of Èround 35 mid-career PTofes8ion815' (>¥cr the Lxbur%t of o year, drawn from the resrarth ¢¢immunity, induary. 8nd ihe civil 5¢rvict and widcr public gecior. OvL'r y 12.miiThth PLriod, zh¢ group and discuss iviih stnior fi8urrs froni govcmrn¥nL parl1llm￿L univer5iii¢¥, Isrg¢ industry. SME% rese4rrh Ch￿11¢5 othcr5, A numb¢r ol. v15its ar¢ organi*d, mLniorin4 is arronR¢d the cohort •rgani$e annual L'onferencc. In addiiion 10 aLYIV115¢* IIK F(>undJtion produLE5 a Journal, published ismL$ 4 yeu. reportin8 Dn th¢ discusiion evenig &nd work of th¢ fuiurt l¢ad¥rs and exploring Ihtt ITh fijrther depth. It retords a re8ular ptrJL'asi and publish¢5 bloB$on a wi thry)UbTh IhLir aciiviiies alyn deliver public bentrfii. Th¢ rccnrdin¥4 fifmeeiings and juurnal rt'ports fi)r dis¥us%iDn IVLnis h051¢d by thL Ftrllndaiioii are wid¥'ly diSTribui¢d Imd fri¢ly avollllblL' to IliL publiL on IhL w¢bsiic IwiYw.louthdo1ion.or8.ukl. a5 &re thjl pod¢As1.s and blug5,"IAe iYL'byilc pruvidcs v4luabL' LJuL*llil)nBI ni41cri￿ for universiil¢¥ andYCh￿l￿ R￿ERv￿3 POLICY ThL'rn151￿.s revicwcd lh¢ fin￿¢1￿ wsiiion ol-the Foundallon during the yearand judged thBt the levcl ofTEscfv¢s is suffici¢ni to unde￿In the Mcrnb¢rs' 8uolanl¢e￿dIr>￿4blcth¢ Foundthiettlocomniitl0th¢ fonYllrdpro8rllryune WIth￿Qfid￿￿1￿. u￿￿lY rDrcsponsurshiporoih¥r¥ourcLW huvL bccn arrong¢d arikssurLd and lo urgani%Lb topic81 th>ing. a)nfimKd Ih¥' fvur mfjin Pu￿￿￿￿.% of holdin8 linortlial resetV¥5. These 4r¢.. 121 lo ensiiwe ilte foii4doiion con co*railniinisiroiive and op¢ruling costs. Tho Follndaiion ￿e￿ndS on ￿Ing & surpl1￿ on sponyor8hip und on Inv£51meni in¢om¢ to ¢tsvcr any d¢ficil. Both x>urtts 4re unprL'diciablt and can k highly voriable. moreov¢rtutsl d¢p¢ndencc on spoJ]¥Or8￿P ¢oui*J ono¢cL8ion wcBk¢n Ihe Foundlllion's IndipcndL'ni posilion. Ibl To ih• Powthion'JpoJlllrM oJl*nd¢n¢e. dndfv¢dom tydrespohylventtu ofacfloA li 1% import4ni for t￿. roundaiion 10 ￿ thblc ¢ve#15 which delll with controv¢rsial ifi%UCb. Ivhich full 10 nitrn¢i StN)nsorship OT for which spOn￿rShIP is In￿nI19n￿1Y esch¢¥v¢d or which arL' u￿'xr￿CIC￿IY si8iiifjLattl ond inL'rii rapid Olliniion. li iy Cquully iinportaDI thGI the Foundaiion is not t￿h￿IdlA ￿ any prE￿Vre group Ur()I￿r body by rcason ofiL¥ d¥pindenr¢ on their finanei#l 3upporl. SuWi¢Kni fintsnci81 re￿Ure¢S a¥6 rt4uir¢d for thc Tru41¢C8 lo mHini&in ¥u¢h ind*priidenLL'. (el To provldefinonclal heGfboomfor ihe Forthdollon 10 develnp 11.% llcrivtlip,yfopfiiE¥Ye aj wÉll as current Trte#ibers. Th¢ Foundation opErnies with minimpl Jtfiff. Th¢ current pro8ramrrL¢ absorbs pra￿l¢￿lY Jll ofthe Chief Exxutive'stim¢ any signi1￿￿￿1 divL'IopTn¢nis ivould call for lh¢ commiimeni ofrn'souTttS tovcr ¢￿trn ¥wrrand t￿lI111C¥. Such iniliouv¢s iiiighi tsk¢ a ytllr or Iwil lo bccom¢ ￿'1￿..fin￿n¢Irt8 4nd the foundHiion could noi und¢rtakt Ih¢m un1¢5s it eould absort> th¢ risk or railurr wlthoui prL'judicL iu IhLHknvL purposc& fowidaiion serv¢s itsmembtts Ihe widcrcomm￿nlty.' Ihc m8na8em¢vi of r¥serwLs should recogni￿ Ihtti rulu￿ mcmbers m&y wish ￿ putsuc new inili&tivc$vr priuTIIILS aTrd.4hould UDduly r¥￿rItI su¢h wgsibilitics. Idl Topr¢pvidereosstiruKcEfor$iipplier&. Adeqkhai¥ r¢s¢rvLscn4ble the FoundaiiDntocommit itselfto acrivit1¢5 Such ￿b(￿)kIn8 evrnt facilities and mainthin in its cr¢dit wonhirtss. Ai thr May 2018 Trns*¢ Board mBeting it was wettl tha¢the Foundation should aim to keep & re￿r¥e of ￿me £S00.000. Page14 FOLfNDA TION FOR SCIENCE AND TECHNOLOGY TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 INVLSTMENf POWERS AND POLICY Under the constithtion ofth¢ Foundation fot ScicrKe and Technology. or£rnling since 30 December 2022. Ihe Found&ion operates w an a8Teed Investment Pnlicy. Th¢ inv¢th)ent polio wns figrecd in the Ftswthtion's tarlier in¢afnllutsn ttt a Compwly Limi*d by GuaTan*e. This 18 as follows.. The inveslThent PDrtfolio should be suitfybly div¢rJified to mitiKatr risk. commensurale with th¢ chtritable statu5 of the Foundaiion. 2. The maximum invested In any corrlln¢r£iai bank or buildin8 50cicty should nOt￿¢#d ¢k limit of ihB sllvlngs gufjraniee ijf the Finonci8J Servlces Compensation Scheme IFSCSI excepi for short pcriods to meet orKratioTh requinm¢nis. Workin8 Capital in imm¢dlAtc ￿￿s9 xcounts including cH5h held by th¥ payroll provider should nomajly exceed £180,(h)O, 4. Remaining fuTrJs, which ar¢ ￿pected lo held for five yeBrs or more. ar¢ inv¢M¢d in adTv¢rsified portfoliu of Itive5fffleni furyjs in line with ￿ a8rEcd risk level. The balance ￿twc¢n UKIWorld, stctors and Specif￿ fvnds should viewcd regularly by th¢ Board. TXUSTEE BOARD MEMBERS The following served on th¢ TTUSt¢¢ Botrd durini the yeBrth&d 31 Deccmbrr 2025.. The Rl Hon the Lord Wllltlts FRS Chpit Sl¢ph¢n (Vi5￿nt.8￿4th1 Trustrr The Rl Hun PrOfw$￿Th¢ Lord K4kkx PC FM¢dS¢i Trnstce Di Sarth M4in Tr￿$￿¢ Dr HoTia Mwr Tnjstre D4m¢ DrJuli¢ M Trus JonfythBn Nedt Jthhn Ncil$oD D4nicI Sh Honorw Trni$unr CIUKF XXECUTIVE Tk Chief ExEcutivc is Gavin Costi¥lln. FUTURE DEVELOPMENTS The FoundHiion trnsiees wll continue lo pursue the strniegy of providiT)¥ Hn Imparti￿ plaiform for disLU5SiQll by MtmtrKrs of b)th Hou5e5 of P￿liaMe￿ offi¢ials from Whitehall and ￿VOlved Adrnini5trBtions, i￿au￿rialis￿ a¢od¢mio% others about policy i&4u&s of ImtK)rtattc¢ r¢levance ts) SO¢TCty involving scicnce, enginL¥rin& technology 2nd medicinc. Moyt discu￿1￿￿ cvcnts will it in-pEmnlonline discussions. and the recording $X)￿ed on the websit¢. with a Tew)rt following in thE FST Journgj. SoLial media will he used lo dTaw pEoplc io this mlllcrial. Furthcrexploralion oFlhe issues with 8 wider gmup I'peoplc will tske place Viathc podcLs¢ which will Coniinw Ihwvu8knut the ye*. The pJdu5t& ￿ ihB blossite, will &llow cxplorniion of is8￿5 b¢yoDd thE evening cv¢ntptV8tamme. S¢condly. thc Foundsiion will continue the Foundation Futttr L¢ad¢Ys ProATamme, developing knowledge, ski115 Jfid conncdiDn5 for mid-taTttT iesear¢h2rg from the civil seryice. indvsty at&Jemia. It will aLw develop the n¢twork of the Futtjre Le&lers. Thirdly. the Found8tion will provide guidance atKI suptA)rt to L¢amtd Professiun￿ Society m¢mE¢rs to Lmprove their 8OV¢rn8n￿ their&dministtJtive eJfKieTW. 8nd ￿ advis¢ thMD individua]ly on such mattBf5. The FO￿d8110n will ¢ontinue to invi* compani¢& or8Hlli5ations and8OVtrnment kndie5 tD￿j￿ &* A5so¢iate Member5 and will strive to mafftiain a balanc¢ tr¢tween the iniercsL SI￿ of the organr5ations r¢pr¢sented while m¢etin8 a wi¢kr obligBtion to ￿ve sooety. Page15 FOUNDATION FOR SCIENCE AND TECHNOL(M3Y TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 FUTURK DEVELOPMENfs {t4intln¥edl AS the fundinK envir￿mcn1 I￿)[r￿StIg￿￿r. the FoLmdation will •)¥) look to diversify its it￿orne wur￿$ and expiutE differ¢nt pwtncrships. In March 2026. thc uwrcDI Chief Extsull￿ (Gavin Costiganl will silnd The h&ve llwin¢¢d Alex Rhys to r¢place him. y Order of tho Tr4bt• D.L.w D4t¢: 17 Marth 2016 Tlb¢ Rt Hon th• Lord Wilkn¢ts FRS Chwr Page16 FOUNDATION FOR SCIENCE AND TECHNOLOGY INDEPENDENT ExA￿￿K,s REPORT TO THE TRUSTEES I report lo the charity InJstees Dn tny cxallLination of ttK accounts of tl* CIOICIO numiK¥ 13 IQ49 8tkl Charity nUM￿r27472￿ forihe year ¢nd¢d 31 Deccmtxi 202J which art out on p4ts 8 tu 16. Re4pow$lbllltleJ al￿ baili of rtport As th¢ ch•rity'¥ tnL*u. you tre resp)nyibl¢ for th¢ prryaAiiort of th¢ accounrs in ttccordarttt with the requirements Df the Charities Aci 2011 I'the 201 I AL#'). I report in re4XLtof rny ¢xamination of your chBrity'J accounts as ¢gni¢d out und¢r settiott 145 of th¢ 2011 AOL jn Lwlng oui my eXamIn￿l0[L I have Fullowed the Diytctions wven by thr Charity ComMi￿t0n under section 145151 Iblof the 2011 Act. Indtp¢#dent •urnlner'¥ stst¢ffj•ut Sinrc the Ch4rity'J gTO8J itKomc ex¢¢cded £250.OtK) your rK4mhJer mu&t be &m¢M￿Or B body Ilaled in 8ccllon 14J of the 2011 Act. l ¢onfirm Ibat T am qua]ified 10 undertake the cx￿nIn811On b¢Lau3¢ 14rn r¢mbtT of Ik. Institufe of Charter Acwuntant5 in F.n8lund 8nd Wale& whicll is one orth¢ lis*d I hav¢ compklwl Jny vx2min8ti0n. I confirm that M matter¥ have come to my gtt¢ntion in Conn￿li0n with eurninttilon 4]VI￿ me caw¥c to Ixlieve.. untin8 Tecord5 wcre noi kepi ui re¥peei ofihe Charity a5 feqwT¢d by stciion 130 of tk Act.. or Ih¢ ￿Ount3 {*) not acc(>rd with thoso rEwrds; or 3. thE iccounts d(F not Comply wtth the ￿COunting TtquirvnKntsof th¢ Actother thon any requircm¢nt thal the acLoun V¢8'thJc znd fair vlew whlch ig om#ier¢omid¢rd •$ pgrt of ￿ indepentht ￿Mi[￿tion. OT the ￿coU￿18h1vt not been prepared in a¢coTdgDCC With the methods Bndprincip1¢5 of the S¢8iementofRccommendcd Prllclice for ￿cOun11n8 ond reporting by charities lapplicablc to ¢hariti¢s p￿WIng th¢ir ￿cOUnts in aicord4ncc wilh the Financid Rcrrt)rting SthndJTd opplltlble in the UK a￿j Republic of Trel￿d IFRS 102)]. I h8v¢ rK) con¢enL5 &nd havc ¢otne rtcross fto other maitcrs in ¢onnE¢liDn wilh ihe examirJN¢ion to whlch &ttqntion 8h)uld b¢ drown in this rcport in ordcr ti) ¢nabk a proper under￿dIng orth¢ •t￿OUntr to be reAched. P&ul Wlndmlll FCA Dated. I￿. 01 . 20 My¢rs Cluk Chartcred Accountants Sui* 7A. Building 6 CToxl¢y Park, Hgtt¢ws L8 Watlord HertfoTdshirr WD18 8YH Page17 FOUNDA TION FOR SCIENCE AND TECHNOLIknY STATEMENT OF FINANCIAL ACTIVITIES (Inco4)orating an Income and Expenditure A¢¢ounl) FOR THE YEAR ENDED 31 DECEMBER 2025 L'xreth¢t•d De￿￿*t¢d Restrki 2024 JO,L73 64.123 Spomsonbjp 34,5(￿) 163.678 1225 34,JC 103,678 03,5LM) 180J61 345 Leamed s{￿￿2￿￿￿￿1*?s Jm 1]J￿) $50 Bauk *D5it JIJ 330 12,65", T￿1 ¢10,51 Cb4n'tthl?xtiiryts (33,0171 Tothl 119911 (1176> 252 (1.991) 252 13 411.815 494.870 J97.ts16 The wte5 OJtpuvJ Ioto 16 of ytstejthcttt Page18 FOUNDATION FOR SCIENCE AND TECktN0L￿y BALANCE SHEET AS AT 31 DECEMBER 2025 T4W4$sets 434.532 434J32 3SI.940 DelKors Casbatbank- on dtpoait 16,454 313S4 69.079 liJ3J 28.￿7 13240 . The H￿DId%￿F￿d CathrAhwrt Jo 115.IC 194 870 Reibthd 13.055 481115 494.870 497.N6 Thp XtHoLth•LtrfdVothttAFRS.awt Dllt￿.. 17 M￿Ch2O￿l TheLoteB ¢npw5 Ioto 16fllrnip￿ ofthefftw))￿sts1th&￿. Page19 FOUNDATION FOR SCIENCE AND TECHNoL￿y NOTES TO THE AccouKrs FOR THE YEAR ENDED 31 DECEMBER 2025 Atcountlni policltJ IA) Bosi5 of prtpor•¢ion and #￿tI5￿¢￿t of golng tonttrn The financial Sfvlernents have IKcn prepaT¢d uNdeT ih¢ hisioricd cost convention with ilrms recogtuscd at CO51 ur transaction valu¢ unless oth¢rwise SLgteJ in the rcI¢v0￿1 notrs to they¢ accounts. The financial stsiemtn15 have been prepar¥'d in accordllnce i¥ith Sthi¢meni of R¢commertik.d PTacii¢¢.' Accounting and R¢pDrtin8 by ch￿ritICS prb'pllring Ih¢ir uctounts in aLLordm¢¢ wilh IhL Financi￿1 Rtporting siandurd ipplicabl¥ ID IhL IJKthnd the Rcpubli¢ ol. Itrlllnd i&%uLd l Jllnuary 2019. th¢ FIn￿Cl￿ R¢wrtin8 Sthndard appli¢able in th¢ IJK ond thc Republic of Jreland IFR51021. The charlly ¢omprise5 &public berKfii entity a5d¢fin¢&l by FRS 102. Th¢ trusteLs Lvnsider tkn ￿t mot¢rial uncertJ(nties th)ut th¢ chaTltV5 3bility to continue 8 80ing ¢onccrn. {bl Income reeoEnklo Income is Tecognised onc¢ the charity has cniiilement to the in¢tsJr*, it is prob&ble thit the inc(Trm¢ will be trceiv nd lh¢ amount of in¢orne rccelvable be me88wrd w¢liably. Inwme rt¢¢ived in 0dv￿Le is defcrred ￿Til thc riteria IOT rrw8niiion w¢ meL Dondiions #nd ¥onsorJhip income Jr¢ rccognièrd whcn the thiriiy h&8 notified of the Amowhts and seiilemLni da￿￿. If a doT]aiion or sponsorship 1$ 8iv¢n 10 support a swific ev¢ni Ihr income 15 defcrred not ognis¢d uniil (he ¢v¥ni has itskcn pla￿. (cl Expendhwr¢ rteo%nltloTr and •lloe•tlon of co l.IdbiliiiL'% are r¢¢ognisLbd n¥ e¥pciidilurL' 4S 85 Ih¢r¢ is A Icgal or ￿nstrU¢l1ve obligation tommlirln8 th¢ ch4rity 10 Ihtsi ¢x[￿nd11iirL', il 1.% pruknbl¢ lh￿1 ￿'111¢n￿nI M'ill iK' rLyuirL'd ynd Ihc 8miiuiii of Illl S J ¥ov¢mfjnL* L¥)sL% [￿¢ ullouktcd or opp>rtion¢d 10 the applScllble ¥xp¢ndl¢w¢ h¢Bdi Direct Lx>s15 ¢omprige th05¢ ¢08ts rcla* to th¢ dclivcry of th¢ thorlile$ activitlm or rwslrt8 funds. Thc5e CO$L8 Are all0¢a￿d to the acilvity to which &y Tclate. SuppJn£osu are Ihot co*¥ incutled In suprK)rt ofih¢5¢ ￿ti¥ll1¢s. In¢lud¢d In support LThts8ft (X>518 ineurred the 8ovcrnance of the¢￿ity which gre prlrnarily as%)clJ¢¢d with the ¢onytiiuitona] and slNIuts)ry rcquir¢mcnl& Supm costs ar¢ Nllocated ￿ aoiivjtics b8xed on an crfimatc of ojaff time on xllvity 4s follows.. Charitsble ￿lIVI11t$. 85% R*$in8 funds- 15% Idl Deprrcl•tion oftsn¢iblE o$81ts li¢ms Losling mor¢ than £1,500 cupiMliK,d And v•lu¢d ai hi¥iuri¥ ￿)$¢. D¢pr¢ciuliun is provid¢d ()n a￿15 at rlltcs calcwluitd 10 iviie ih¢ LO%L less fs1imaiLd rcsiduol vAluE of ¥aeh ll5%1 over Its &'.XPL*tcd uscful lifc. I'OT fvrnilur¢. fumi¥hiftEs at)d Onl￿¢qUIpm¢D14 d¢pY¢ei￿livn fisureof20% 1025%6 wannum on isvsed. Page | 10 FOUNDA TION FOR SCIENCE AND TECHNOLOGY NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDF.D 31 DECEMBER 2025 (O re￿ N• 2D21 J.¢S0 EY441 ￿¥￿￿• 110,130) I¥O.i3Q) 43 SuppDTI 11s.J•)I Iii.ooo) ts8,J92) 1163.151) (191.gM) 11,0931 I14lKVy. .4141 11.722> L41 iaoii 1167) Ji) 1117) 11,24PI (3,1961 (14.0131 {4J921 Cknvltttbl• (1.61n