2025-03-31-accounts

Report & Accounts 2024-25 J

11 •? ￿ L4ri* 4£'4fJ1 200 The Nation318rain Appeal Report&Accounts 2024-5 CONTENT5 . TRUSTEES, REPORT . INDEPENDENT AUDITOR'S REPORT . FINANCIAL STATEMENTS

Financial Statements for the year ended 31 March 2025

Contents

Trustees’ Report	4	Independent Auditor’s Report	59
Who we are and what we do	6
		Financial Statements	65
Welcome letter	8
Our year in numbers	10	Statement of Financial Activities	66
How we raised and spent our money	12	Balance Sheet	68
Our strategic performance	14	Statement of Cash Flows	70
#1 Inspiring funding programmes	15	Notes to the Financial Statements	71
#2 Impact and insight	26
#3 Ambitious fundraising	36
#4 Awareness raising	42
What’s planned for next year,
by strategic area	48
Legal and administrative details	52
Donors	53
About this report	55
Trustees	56

Photography Credits

Jane Ferguson: front cover, p4, p9 top, p17, p23, p24 right, p30, p34, p46, p87. UCLH: p7, p48. Marie Mangan: p2, p19, p24 left, p32, p33, p38, p43, p44, p47 right, p54. David Sandison: p20

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The National Brain Appeal Report & Accounts 2024-5

TRUSTEEF REPORT The Nation318rain Appeal Report&Accounts 2024-5 CONTENTS . TRUSTEES, REPORT . INDEPENDENT AUDITOR'S REPORT . FINANCIAL STATEMENTS

The Nation318rain Appeal Report&Accounts 2024-5 CONTENTS . TRUSTEES, REPORT . INDEPENDENT AUDITOR'S REPORT . FINANCIAL STATEMENTS

About us

Who we are and what we do

The National Brain Appeal supports world-leading care at The National Hospital, and trail-blazing research at the UCL Institute of Neurology in Queen Square – a world-renowned centre of excellence at the forefront of neurological care and discovery.

People with brain conditions are at the heart of everything that we do. Our mission is to accelerate advances, which we do by providing funding that goes above and beyond what the NHS can offer.

We fund pioneering research, state-of-the-art facilities, and the very best technology to enable accurate diagnosis, cutting-edge treatment and world-leading care. We also invest in training the next generation of clinicians, ensuring that neurological care continues to advance and improve.

Our focus is bold, ambitious and impactful. The projects we support are chosen for their potential to make the biggest difference. Whether it’s a new clinical space, a pioneering research study, or a staff-led innovation, everything we fund is designed to improve the lives of people living with neurological conditions – now and in the future.

Thanks to the support of our incredible donors, we’ve helped deliver transformational changes in care, research and services across Queen Square that will have a lasting impact across the UK and internationally.

And we’re just getting started.

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The Nation318rain Appeal Report&Accounts 2024-5 CONTENTS . TRUSTEES, REPORT . INDEPENDENT AUDITOR'S REPORT . FINANCIAL STATEMENTS

Letter from the Chair and Chief Executive

Welcome to our annual report for 2024-25

This year, we have raised £4.19m and we are especially proud to have exceeded our fundraising target for the creation of the world’s first Rare Dementia Support Centre.

This incredible milestone has enabled us to purchase premises for the centre and begin a complete refurbishment, with completion planned for spring 2026. The centre will become the dedicated home for Rare Dementia Support (RDS), which currently helps more than 8,000 people living with a rare form of dementia, as well as their families.

We have supported RDS since its inception in 1994 and have now committed to funding its running costs for the next five years. With predictions that over one million people in the UK will be living with dementia by 2030, we are intensifying our investment in research, with a particular focus on rare dementias, including posterior cortical atrophy (PCA) and frontotemporal dementia (FTD). You can learn more about these vital projects in the grants section of this report.

At the same time, we are committed to ensuring the projects we fund make the most of breakthroughs across every field – including the transformative potential of artificial intelligence. We are excited to report on the first AI-related grants we have awarded, and the new initiatives now underway. These include the development of an AI model to improve brain tumour imaging and modelling, as well as a project using AI to identify eligible participants for clinical trials – ensuring more patients can access cutting-edge treatments and innovations.

We have continued our strategic focus on expanding the breadth of neurological conditions we support.

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This year, we are pleased to report on funding for research of rarer conditions such as into autoimmune encephalitis, when the immune system mistakenly attacks healthy brain cells, causing inflammation; neuromuscular diseases, such as Kennedy’s disease and encephalitis, alongside further support for more widely known conditions, including glioblastoma, the most aggressive form of brain cancer, and stroke, which affects 100,000 people across the UK every year.

None of this would be possible without the generosity of our supporters. Despite the continued challenges many people are facing – particularly the pressures of the rising cost of living – we are deeply grateful to all those who have made our work possible. Over the past year, thousands of individuals have donated, left gifts in their Wills, taken on sponsored challenges, organised events, or given in memory of loved ones. We are also fortunate to have the support of many committed grant-making trusts and organisations who are as passionate as we are about accelerating advances for the neurological community.

Together, this support has empowered us to fund lifechanging care, state-of-the-art facilities, and pioneering research.

We remain firmly committed to growing our income each year, so that we can continue to increase the impact we make.

With every new breakthrough and innovation, our optimism grows – and so too does our determination to secure more support for the projects that offer real hope and meaningful change for people living with neurological conditions.

Together we are making a difference, thank you.

Claire Wood Hill Jackie Ashley Chief Executive Chair of Trustees

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Our year spend in numbers

given to wide-ranging projects on dementia £3.43m[£2.38m] spent on research, treatments, support and cutting-edge technologies

151% increase in technology & innovation grant funding, from £110,000 to £277,000, reflecting our strategic shift toward innovative projects that explore new approaches

31

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projects in total supported, covering a huge range of conditions and areas – from support groups for patients facing brain surgery to the funding of a clinical nurse specialist role for dementia, and AI tech to improve brain tumour analysis

specialist research, clinical and care roles at Queen Square funded

6

PhD student fellowship posts funded

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Our fundraising year in numbers

41% 411artworks were sold for 1.25m A Letter in Mind – including increase in special events and given by charitable trusts work by artists based in the activities income – up from £291,000 to £410,000 US, New Zealand, Germany and France – helping us raise £52,000 31%

29% £800k

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rise in investment income, from £405,000 to £531,000, reflecting a larger investment portfolio, and a higher proportion being held in high-interest cash accounts

reduction in cost of raising funds, from £1.71m in 2024 to £1.22m in 2025

gifted over four years towards targeted research – the largest ever donation received from an individual

people ran the 2024 London marathon, raising more than £140k 258

people took on active challenges for us!

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How we raised and spent our money

----- Start of picture text -----
£4.19m £3.43m
income charitable activities spend £1.22m
cost of raising funds
[General donations: £1.45m] [Neurodegeneration: £2.38m] [Support costs £0.80m]
[Donations from charitable trusts: £1.25m] [Governance and support costs: £0.66m] [Direct costs £0.42m]
[Investment income: £0.53m] [Technology and innovation: £0.28m]
[Special events and activities: £0.41m] [Neurosurgery: £0.11m]
[Sporting and challenge events: £0.38m] [Queen Square: £0.03m]
[Legacies: £0.17m] [Neurology: £0.01m]
----- End of picture text -----

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Lue fund trail-blazing, treatments and ~i•. pioneering research. Let's accelerats brain breakthroughs ional < 13 The Nation318rain Appeal Report&Accounts 2024-5 CONTENTS . TRUSTEES, REPORT . INDEPENDENT AUDITOR'S REPORT . FINANCIAL STATEMENTS

Our strategic performance

Our 2022-2027 strategy outlines how we aim to increase our impact by funding pioneering research, supporting innovative treatments, and helping to develop world-class facilities.

It sets clear objectives to guide us over these five years, all focused on improving outcomes for people living with neurological conditions. We regularly track our progress against these goals.

The 2024-2025 period marked the third year of this strategy. In the following pages, you’ll find updates on how we’ve advanced across its four key focus areas – highlighting the projects, initiatives and achievements that have shaped our year.

Strategic Goal #1 Strategic Goal #2 Inspiring Insight funding and impact programmes

Strategic Goal #3 Strategic Goal #4 Growing Awareness our income raising

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Strategy goal #1

Inspiring funding programmes

In support of our strategic goals, we fund innovative projects that are recognised, informed by, and relevant to leaders across the global neurological community.

Over the past year, we’ve focused our funding on three key areas, making support more accessible to a wide range of initiatives – from small, grassroots projects to major research programmes – across the full spectrum of neurological conditions.

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A New Home for Neuroscience

We are proud to be supporting the creation of UCL’s new state-of-the-art neuroscience centre on Grays Inn Road – a landmark project that will transform the future of neurological care and research.

As part of our £7m capital appeal, The National Brain Appeal is funding essential, life-changing facilities at the new centre, including a pioneering stem-cell facility and two top-of-the-range, high-resolution MRI scanners.

This world-leading centre will bring together researchers, clinicians and patients under one roof. It will be home to more than 500 neurological research scientists from the UCL Queen Square Institute of Neurology and the UK Dementia Research Institute. In addition, a selection of outpatient clinics from The National Hospital will also move to the new site, which will offer increased capacity to take blood tests, skin biopsies and other tests used for increased patient research.

Building work on the site is 70% complete and the complex internal fit-out is now underway. The building is expected to be fully operational in early 2028.

These integrated facilities will accelerate discoveries, improve diagnosis and treatment, and ultimately lead to better outcomes for people living with neurological conditions including brain tumour, MS, dementia and epilepsy.

A cutting-edge scanning suite

The new centre will house a large scanning facility, featuring five state-of-the-art scanners dedicated to research and outpatient care. Two of these scanners will be funded by The National Brain Appeal, significantly boosting capacity and accelerating vital neuroscience research.

This expansion will double the number of MRI scanners available across the UCLH Queen Square service, bringing the total to 10. The original five scanners at Queen Square will continue to focus on acute, complex cases and inpatient care.

Meanwhile, the new scanners at Grays Inn Road will support outpatient appointments and research activity – including the monitoring of patients involved in clinical trials for emerging dementia treatments.

The partnership with scanner manufacturer Siemens will allow the new facility to pioneer the latest imaging technologies, including AI-enhanced software that can improve image quality or dramatically reduce scan times – making appointments faster and more comfortable for patients.

Designed with input from clinical teams, the new unit also prioritises patient experience, with purposebuilt waiting areas, private consultation rooms, and accessible changing facilities. With the entire neuroscience community brought together under one roof, the centre will foster greater collaboration and faster translation of research into patient care – delivering real impact for people living with neurological conditions.

Our funding will focus on two key areas:

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A pioneering stem-cell facility

Stem cells are special human cells that are able to develop into many different cell types. These can range from muscle cells to brain cells. In some cases, they can also fix damaged tissues.

The new, purpose-built, stem cell facility at the New Home for Neuroscience will be transformational for accelerating research into neurological diseases such as Alzheimer’s, frontotemporal dementia, Parkinson’s and motor neuron disease. A key focus is understanding why brain cells (neurons) become damaged and how this process might be slowed or prevented. Using induced, pluripotent stem cells – created from small skin samples donated by patients – researchers can grow living human brain cells in the lab. This powerful model enables early-stage disease study and the development of personalised treatments.

The new lab will dramatically expand capacity, moving from working with samples from 25 people to more than 100 at a time.

It will also be housed in the same building as outpatient clinics, improving logistics. A dedicated training area will allow up to 50 researchers each year to learn this highly specialised stem cell research technique.

Crucially, the facility will also help establish shared standards and protocols, and support collaboration across conditions. A dedicated robotics room will enable automated cell production, making high-volume drug testing feasible. This industrylevel capability will save researchers time and attract vital partnerships with pharmaceutical companies – bringing new therapies closer, faster.

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The National Brain Appeal Report & Accounts 2024-5

Rare Dementia Support Centre

A world-first vision realised

We are thrilled to share that we have reached – and exceeded – our fundraising target for the Rare Dementia Support (RDS) Centre appeal. Thanks to an incredible outpouring of generosity, over £9m has been raised, far surpassing our original goal of £7m. This landmark achievement means the world’s first specialist centre for people affected by rare dementias is now becoming a reality.

The need for a dedicated Rare Dementia Support Centre grew out of a simple truth: people affected by rare dementias often struggle to access appropriate, tailored support. Our capital appeal for the new centre has raised funding to address that. The centre will offer a beautiful, appropriate space for in-person group meetings, expand the reach of RDS nationally, and serve as a base for research into the most effective ways to support people living with these conditions.

Crucially, it will also become a training ground for professionals – from nurses and physiotherapists to opticians and GPs – equipping them with the knowledge to support families facing these challenging diagnoses.

On-site works kick off

The new centre will be based in two neighbouring townhouses in London’s Woburn Square. These are being redeveloped using dementia-friendly design principles to create a calm, accessible and inclusive environment.

Our partners at UCL, Ark Build and Aecom have begun the renovation works, with doors expected to open in spring 2026.

Professor Nick Fox, director of the Dementia Research Centre at UCL, summed it up: “Creating a bespoke space for people living with rare dementias has long been our dream. To see it taking shape is deeply moving. This centre will offer vital specialist support that simply isn’t available elsewhere – in a space that feels like home. It will change lives.”

The additional funds raised will not only support the centre’s development but also help cover the ongoing running costs of the RDS service (see Rare Dementia Support, below).

We are deeply grateful to every individual, family, trust, company and foundation who made this possible. In particular, we would like to thank The Hilary and Galen Weston Foundation, Garfield Weston Foundation, Iceland Foods Charitable Foundation, Wolfson Foundation, Rosetrees, and our wonderful Development Committee. A heartfelt thank you also goes to the many fundraisers who took on challenges, hosted events, and donated so generously.

The next chapter begins

While reaching this milestone is a moment for celebration, our journey doesn’t stop here. Over the next five years, The National Brain Appeal will continue to raise £500,000 annually to help fund the centre’s running costs, staff salaries and support activities.

The Rare Dementia Support Centre really will transform lives. It’s been a privilege to be part of this visionary project. We simply couldn’t have done it without the amazing generosity of our supporters, and we’re incredibly grateful to all who made this dream a reality.

CLAIRE WOOD HILL CHIEF EXECUTIVE OF THE NATIONAL BRAIN APPEAL

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Rare Dementia Support

The National Brain Appeal has supported the Rare Dementia Support (RDS) programme since the first condition-specific support group meetings in 1994.

RDS supports people with rarer forms of dementia, which can occur at a younger age and often cause symptoms that are not only memory-related, including difficulties with vision, language, movement and behavioural changes.

We support RDS’ vision for all individuals affected by a rarer form of dementia to have specialist support. This includes access to information, tailored support and guidance, and contact with others affected by similar conditions. It’s a vital UKwide initiative that currently provides support to more than 8,500 people through online and face-to-face support groups.

Services currently being offered include: large, diagnosis-specific support group meetings; careronly meetings; monthly, Zoom, peer support groups; focus groups, oneto-one support by email, phone and video call; a free, legal advice service; 25 regional support groups; bereaved carer meetings and participation in non-clinical research opportunities. The service makes thousands of support calls to individuals each year and hosts hundreds of meetings.

In September 2024, RDS also launched a three-year Rare Space Cultural Programme funded through a grant of £213,000 to The National Brain Appeal from The Linbury Trust. The aim of the programme is to define and express the ‘cultural life’ of Rare Dementia Support for its members, team and community. It is designed to enable more people affected by a rare dementia diagnosis to engage in creative activities with a view to helping them continue to live meaningful lives, and experience joy and connection. In future, the programme will have a physical home at the Rare Dementia Support Centre (see above, p18).

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Innovation Fund

Backing bold ideas that drive change

The National Brain Appeal’s Innovation Fund kick-starts trail-blazing projects led by world-class clinicians and researchers at Queen Square.

By providing vital seed funding, we help turn brilliant ideas into medical breakthroughs – whether that’s through cutting-edge technology, novel treatments or new ways to improve care.

The demand is high: for every project we support, around 20 more are waiting in the wings. That’s why continued investment in innovation is crucial if we’re to change the lives of people affected by neurological conditions.

This year was our most successful yet for the Innovation Fund. We secured funding for four separate projects – the most ever in one year. We did this thanks to funding from our individual Ambassadors for Innovation, and we also have a growing number of trusts and foundations who part fund or even fully fund whole projects – demonstrating a keenness to support transformative ideas.

Here we detail three of those four projects. To read about the impact of the fourth project, turn to strategy goal #2, on p30. We also look at the ongoing impact of the first-ever Innovation Fund project on p29.

Better MRI monitoring of neuromuscular diseases

Professor John Thornton has been awarded a £73,000 Innovation Fund grant to lead a one-year project aimed at transforming how neuromuscular diseases are diagnosed and monitored. These conditions, affecting 5% of the population, cause muscle shrinkage and fat replacement, and accurate tracking of disease progression is vital to providing the best possible care.

Current MRI monitoring relies heavily on radiologists visually comparing scans, which is time-consuming and can miss subtle but important changes. This project will develop the use of MuscleQuant , an AI tool developed at Queen Square, to extract precise data from routine hospital MRI scans, enabling faster, clearer, and more sensitive diagnosis.

The team will refine the software, identify key muscle measurements, and create easy-to-read graphical reports for clinical use. Once validated, MuscleQuant could benefit over 300 patients annually at Queen Square and be rolled out across the NHS. This marks a vital step in bringing cuttingedge technology into clinics for conditions like motor neurone disease and Duchenne muscular dystrophy.

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Innovation Fund

Investigating the causes of brain haemorrhage in stroke and dementia

One in five people over the age of 80 have CAA, and it’s a very common cause of stroke and dementia too. We will test out the theory that inflammation in blood vessels near the surface of the brain might play a part in the condition. If our theory is confirmed, this could then lead on to new treatments to prevent brain haemorrhage in CAA.”

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Using AI to boost clinical trial access for brain tumour patients

Dr Joachim Starup-Hansen has been awarded a £50,000 grant to lead a three-year project aimed at increasing clinical trial recruitment for people with brain tumours. Despite advances in research, outcomes in neuro-oncology have seen little improvement, largely due to low trial participation, which is often caused by time pressures and limited awareness of every trial among clinicians.

To address this, the project will use artificial intelligence to scan clinical letters and extract relevant medical terms using natural language processing (NLP). These will then be crossmatched against a UK-wide database of clinical trials, helping identify suitable matches for patients quickly and efficiently.

A working prototype already exists at UCLH. The grant will fund three research fellows to develop and integrate the tool into NHS systems like Epic (a platform for electronic health records used by many NHS health trusts), and evaluate its impact on recruitment. If successful, this approach could be scaled across the UK and Europe, improving access to trials and outcomes for thousands of patients.

We are very grateful to Rosetrees for their support of this project.

Projects like this highlight the importance of the Innovation Fund, which focuses on patient-based outcomes. There’s lots of funding to help develop a technology, to help improve research from a biochemical point of view, or to get new equipment but few grants focus on integrating solutions into real-world healthcare systems, which is almost the most important part of the process.”

DR JOACHIM STARUP-HANSEN

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Other projects

Dementia Research programmes

We are pleased to have been able to fund research programmes in three rare dementia conditions. This was made possible by three generous individual donors.

One such donor has supported a second three-year programme dedicated to Frontotemporal dementia (FTD) – a group of dementias that mainly affects personality and behaviour or language and speech. The FTD Research Programme in memory of David Blechner 2025– 2028 , which is now underway, is supporting another generation of promising researchers.

----- Start of picture text -----
SOPHIE FROUD AND EVA LARSEN
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Research assistant Eva Larsen is working within Professor Rohrer’s team on the Early Detection of FTD study. Since 2024, she has led the digital assessments on the healthy control arm, testing over 100 individuals. She also compared the team’s cognitive assessment app Ignite with a US-developed tool called the ALLFTD app, presenting her findings at the 2024 International Conference on Frontotemporal Dementias in Amsterdam.

PhD student Sophie Froud is building on her MSc research and Dr Jiang’s earlier work to develop new tests exploring how people with FTD cope with real-world listening challenges. Her aim is to link these difficulties to specific brain changes, potentially identifying new diagnostic markers for communication issues in dementia. She has presented her findings at the 2025 SpiN conference in Lancaster and is currently preparing them for publication.

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SOPHIE GOLDSMITH
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Exploring the root causes of familial FTD

Alongside these projects, David A Owen is funding a three-year PhD in Professor Selina Wray’s lab. Student Sophie Goldsmith is now in the second year of her PhD using skin cells from patients with progranulin gene mutations to grow ‘mini brains’ – cultured brain cells that replicate aspects of familial FTD. Early results show that mini brains mimic key changes seen in the disease, including alterations in an important brain protein. Next, is exploring these models further to test possible treatments to see if damage can be reversed. This work will move to the stem cell labs in the New Home for Neuroscience when it opens in 2028.

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Dedicated nursing support for patients with cognitive disorders

In October 2024, we awarded a grant to the Queen Square Cognitive Disorders Clinic to fund specialist nursing support for patients at the clinic, which is a national centre of excellence for diagnosis and treatment of patients with cognitive disorders, with a particular focus on young-onset dementia, familial dementias and unusual degenerative diseases.

The £33,860 grant funded six months of support from a highly experienced nurse, Anadel Espinosa, whose role enabled the clinic to significantly reduce the waiting times for patients so that the majority could benefit from the specialist support offered there within 18 weeks of referral.

During the six-month grant period, Ms Espinosa was also able to increase the clinic’s capacity to perform lumber punctures by 40%, which in turn made more treatment paths open to those patients. Her support also freed up other staff to be able to attend training and development, and enabled the department to refine its processes for diagnosis and monitoring so that, going forwards, more people can receive the right treatment and support as quickly as possible.

“We are delighted that this has enabled us to secure an ongoing substantive funded position in the team, which Anadel has successfully being recruited into,” says Glenda Baillie, Director of Nursing, UCLH Specialist Hospitals Board.

We are incredibly grateful to The National Brain Appeal for awarding this grant to fund Anadel’s proof of concept, fixed-term role in the Cognitive Disorders team. Having Anadel in post for this time not only increased clinical capacity, but very importantly enabled essential resilience within the service to proactively prepare for the delivery of new therapies and responsively support our patients whilst doing this.

GLENDA BAILLIE, DIRECTOR OF NURSING, UCLH SPECIALIST HOSPITALS BOARD

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Strategy goal #2

Insight and impact

While we are proud to fund world-class research, facilities and treatments, we’re equally committed to ensuring that this work has measurable impact and that the insights gained are shared widely to benefit as many people as possible.

Each year, we focus on finding new and better ways to amplify the results of the groundbreaking projects we support – working in close partnership with clinicians, researchers, patients and supporters to build greater awareness and understanding of neurological conditions.

Ultimately, the most powerful measure of our impact lies in the outcomes of the work we fund. In the following section, we highlight just a few of the projects that have delivered meaningful, lasting progress in our mission to transform lives.

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Expanding access to genetic diagnosis worldwide

The National Brain Appeal is proud to support global initiatives that reduce health inequalities and improve access to neurological care.

A grant of £344,550 was awarded to the International Centre for Genomic Medicine in Neuromuscular Diseases (ICGNMD), a major project launched in 2019 to improve diagnosis and care for people with rare neuromuscular diseases in underrepresented regions.

While patients in high-income countries often benefit from advanced genetic testing, access remains limited in low- and middle-income countries (LMICs). With 86% of global genetic data from people of European ancestry, ICGNMD aims to close this gap.

A global network of 18 centres across Brazil, India, South Africa, Turkey, Zambia, the UK and the Netherlands shares data and training while using a cloud-based system to analyse genetic information.

More than 6,000 people have been recruited, with 82% of genetic data from non-European ancestry. So far, 56% have received a confirmed or likely diagnosis. In congenital myopathies, the rate is 72%. Nearly one-third of the identified disease-causing variants were previously unknown.

Seventeen neurology fellows, mostly from LMICs, have received advanced training in genetic interpretation and are now applying their skills in their home countries.

This project proves that remote, affordable, high-quality genetic diagnosis is achievable and transformative for global neurological care.

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Expanding and advancing care for Kennedy’s Disease

The trial wouldn’t have come here without the clinic, and the clinic wouldn’t exist without The National Brain Appeal’s support.”

Five-year funding from The National Brain Appeal has transformed the UK’s only specialist Kennedy’s Disease Clinic, significantly improving care and enabling major research progress.

In 2020, a grant of nearly £200,000 supported the appointment of consultant neurologist Dr Dipa Jayaseelan at The National Hospital, Queen Square. At the time, the clinic supported around 60 patients annually; it now sees more than double that number and serves as a centre of clinical and research excellence.

Kennedy’s Disease is a rare, inherited condition that causes progressive muscle weakness, and can affect swallowing and breathing. The clinic provides holistic, multidisciplinary care through a team of neurologists, nurses, and allied health professionals.

A major step forward has been the introduction of video consultations, allowing patients across the UK to access specialist care.

Over half are now based outside London. A physiotherapist has also joined the team, offering both remote and in-person sessions.

The clinic is playing a pivotal role in research, hosting the UK arm of the international NIDO-361 Phase 2 clinical trial – the first of its kind for Kennedy’s Disease. Beyond care and research, the clinic is driving awareness and improved diagnosis of this condition, which is frequently misdiagnosed as motor neurone disease. The team has delivered training, created patient resources in partnership with Kennedy’s Disease UK and MND UK, and developed emergency QR-code bracelets linking to treatment guidance.

The initial funding, and success of the clinic has laid the groundwork for further funding. Dr Jayaseelan and her team are now preparing a bid for Highly Specialised Service status, which would secure dedicated NHS funding for rare disease care.

DR DIPA JAYASEELAN

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Robotic surgery tool gains global backing

The impact of one of our earliest Innovation Fund projects, an innovative, robotic, surgical instrument that makes keyhole brain surgery safer and available to more patients, has continued to grow over the past year.

The original grant of £100,000 for this project was made in 2019; since then, it has enabled project leaders, Mr Hani Marcus and Emmanouil Dimitrakakis to secure more than £2.6m in further investment. This additional funding has made it possible to validate the safety and feasibility of the device, in order move into the in-human testing phase in 2025.

More than 60 neurosurgeons from across the EU, UK, USA and China have provided excellent feedback on the tool and the team are on track to secure ISO 13485 certification – an internationally-recognised quality standard for medical devices that is crucial for market access. They aim to secure a further £8m in funding to cover the final phase of the project for the period to 2028.

Alongside the benefits to patients, the new robotic technology is also proving to be a vital tool for surgical analytics – providing key insights into the outcomes of surgery, which can be recorded and used to improve surgical techniques in the future.

Thanks to The National Brain Appeal’s early support, we’re now closer than ever to bringing this technology to patients.”

MR HANI MARCUS, PROJECT LEADER

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Innovation Fund

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DR HARPREET HYARE
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AI-assisted monitoring of brain tumours

This was the fourth Innovation Fund project we secured funding for during the financial year.

This project will trial the use of AI to improve brain tumour diagnosis and monitoring by providing objective assessments of MRI scans – enabling faster and more accurate reporting for patients.

An estimated 102,000 people in the UK and one million globally are living with brain tumours. MRI scanning is key to diagnosis, treatment and ongoing monitoring, but current evaluation is subjective. Doctors compare scans visually across time points, meaning subtle changes may be missed. This can delay treatment, increase anxiety, and add pressure to NHS waiting lists.

Dr Hyare’s team will trial a brain tumour segmentation algorithm to provide an objective assessment. It can identify different tumour parts and automatically describe structural changes, helping clinicians monitor trends in tumour growth or response and intervene at critical points.

A feasibility study with 100 glioma patients showed this AI-assisted approach was significantly faster and more accurate than standard assessment. Over three years, monitoring gliomas at The National Hospital currently takes 737 workforce hours (costing £38,750).

Using AI could cut this to 8.7 hours of computing time (costing £3.56 in power).

The team will use the Innovation Fund grant to:

• Optimise the tool for gliomas and meningiomas by analysing scans of all new patients with suspected tumours;

• Demonstrate improved accuracy in tumour description and surveillance;

• Validate its utility across a panel of specialists at UCLH and partner NHS Trusts.

If successful, the project could directly benefit 200 patients annually at Queen Square. In time, the team hopes to release a prototype tool that will inform a large-scale, multicentre feasibility study for use of this innovation by healthcare providers across the UK and beyond.

A workforce analysis forecast that if deployed nationally, it could save more than £1.5m in NHS costs within the next three years.

We were delighted that this pioneering project was featured in the Evening Standard , and saw a considerable spike in traffic to our website from the article.

We are very grateful to Rosetrees and Q Charitable Trust for their support of the project.

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Small Acorns Fund

The Small Acorns Fund gives frontline staff at The National Hospital and the UCL Queen Square Institute of Neurology the opportunity to apply for funding to deliver small-scale projects that make a meaningful difference to patient care. Designed for ideas that can be implemented quickly, these grants offer a fast and effective way to enhance the experience and outcomes of people being treated at Queen Square.

Since its launch 12 years ago, the fund has supported 171 projects – each costing less than £5,000. Led by a diverse range of clinicians across multiple departments, these projects have included everything from practical equipment purchases and the creation of patient resources, to the development of condition-specific support groups and innovative rehabilitation tools.

In the past year alone, 10 projects have been awarded funding, totalling £32,447.

Here are three recent examples of how Small Acorns funding is helping to make a lasting difference:

Boosting confidence through ataxia-friendly workouts

In January last year we were pleased to award a Small Acorns Fund grant of just over £1,500 to Suzanne Booth, ataxia clinical nurse specialist; and Genny Hart, a specialist physiotherapist, to create exercise videos for people with ataxia.

Ataxia is a term for a group of neurological disorders that affect co-ordination, balance and speech. Currently, around 2,000 people are under the care of The National Hospital’s ataxia clinic, with around 10,000 people in the UK estimated to be affected.

These videos are an invaluable resource for patients – exercise plays a vital role in the management of the condition. The step-by-step guides aim to increase exercise confidence and engagement, improve balance and reduce the patient’s risk of falling.

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Helping patients regain balance and confidence

Dr Diego Kaski, consultant neurologist at The National Hospital, is one of the few specialists in the UK focusing on dizziness and balance disorders.

With a £5,000 Small Acorns grant, he has been exploring how sensory prompts can help patients with severe balance issues improve their movement and regain confidence.

When the balance nerves in both ears are impaired, as in vestibular loss, it can cause unsteadiness, difficulty with daily tasks and a high risk of falls – this affects up to three million people globally. Current treatments are often ineffective, with only 20% of referred patients seeing improvement.

Dr Kaski’s team introduced a device called SwayStar – a fibreoptic gyroscope worn at the waist to track body sway.

They found that people with vestibular loss balance better on firm surfaces, while those with nerve damage (neuropathy) do better on soft surfaces. This insight led to a collaboration with a Dutch company to trial the BalanceBelt, a wearable device that gives gentle vibrations as feedback, helping patients adjust posture in real time.

Ten patients are now trialling the belt, with life-changing early results – some are now walking independently again.

Dilys Jones, 82, took part in the trial after being diagnosed with vestibular neuritis. She said the belt gave her renewed confidence: “It’s like having an old friend back. I’ve been to town on my own – which I wouldn’t have done before.”

The next phase involves integrating SwayStar technology into the BalanceBelt, with the goal of making it available on the NHS. This approach could benefit up to 80% of people affected by vestibular disorders.

LEFT: DR KASKI WITH DILYS JONES

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New therapy room for encephalitis recovery

A new therapy room was officially opened at the National Hospital in February 2025. Made possible by our Small Acorns Fund, the space offers a calming, sensory-friendly environment to support the recovery of patients with encephalitis and other complex neurological conditions.

Led by senior nurse Leithan Lozano, with support from ward sisters Juliet Brobbey and Ariel Lauron, the project aimed to improve care for patients experiencing confusion, agitation and behavioural challenges. These symptoms can be distressing for patients and difficult to manage in a busy ward.

The therapy room is located in a quiet area of the hospital and designed to reduce sensory overload and promote emotional regulation. It includes an ergonomic reclining chair for patients with mobility issues, a light therapy unit with warm lighting, a white noise machine, aromatherapy diffuser, weighted blankets, and sensory items to help ease anxiety and promote relaxation.

The space can also be used for gentle physical therapy and family visits, with opportunities to share familiar items and videos to stimulate memory and aid emotional reconnection.

Patients with encephalitis can be with us for months, even a year or more. When they are confused and agitated, they are incredibly vulnerable. We needed a safe, calm space to support their recovery – and we’re so grateful to The National Brain Appeal’s Small Acorns Fund for making this possible.”

LEITHAN LOZANO SENIOR NURSE

While designed for encephalitis patients, the therapy room will also be used by other neurology inpatients, including those with mental health conditions or learning disabilities, offering a valuable new resource to support holistic care and rehabilitation.

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Internal impacts

New trustees joined our board

We were delighted to have four new trustees join us in 2024. They have brought a wealth of expertise in their fields to our collective knowledge. They bring with them the right balance of skills and experience in a number of key fields.

Glenda Baillie is Head of Nursing for the UCLH Specialist Hospital Board, of which Queen Square is the largest division. She has over 25 years in experience in acute, corporate and educational nursing positions and, more recently, nursing leadership roles. She is committed to ensuring all who access the services she supports receive the highest quality care, and is passionate about developing a workforce that is enabled and empowered to deliver this.

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GLENDA BAILLIE
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David Leibowitz is a partner in dispute resolution and a leading insolvency litigation specialist. He advises on domestic and cross-border cases involving officeholders, fraud, asset recovery, and director duties. With expertise in financial services and property insolvency, he also serves on the Insolvency Rules Committee. A CEDR-accredited mediator, David is a published peer reviewer and sits on LexisNexis’s Consulting Editorial Board. He’s ranked by Chambers and Legal 500.

Hadi Manji is a consultant neurologist at The National Hospital, and Chairman of its Medical Committee. He has received major accolades including the ABN Medal (2022) and the GG2 Outstanding Achievement in Medicine Award (2024). A long-time supporter of The National Brain Appeal, he helped secure Bestway Group’s support at Ascot fundraising events for the Molly Lane Fox Unit (2010) and the Encephalitis Group at The National Hospital (2023).

Dee Rudran currently works in the UK Deloitte Managed Solutions team, which delivers advisory and business processing services to clients that have temporary or longer term large-scale issues requiring rapid resolution. Currently she is supporting a client with design and implementation, which includes project management and operational readiness activities. Dee’s previous experience includes working in UK Parliament as an organiser, case worker and political advisor focusing on voter retention.

New grants management system introduced

Our aim is to streamline how we collect and review applications to our funding programmes. We want to offer grant applicants a smoother experience and also to improve the administrative side of our funding programmes. With that in mind, we have introduced a webbased system for the Innovation Fund and Small Acorns grants programmes.

The feedback from applicants so far is that it’s much faster to fill in and submit – in fact, it’s now 20% quicker due to automated flows and self-registration. And from our perspective, we’re delighted as it’s now 50% quicker for us to process due to automated flows and comms, and mandatory fields.

We also rolled out a web-based application form for our major grants programme in February. This has streamlined our grants application process enabling us to capture grant payment schedules and planned outcomes from the outset, improving both our financial planning, and our ability to celebrate the successes of grantees.

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We became an accessibility partner

We were thrilled to be invited to be the 2024 Accessibility Partner for Santa in the City. After passing on some feedback from one of our participants, wheelchair user Anthony Hamilton (right), on the 2023 event, the organisers asked for guidance on aspects of the 2024 event. Anthony was more than happy to advise on aspects of the route for wheelchair participants to help inclusivity and improve health and safety.

More than 20 participants came together for the event – which included patients, hospital staff, National Brain Appeal staff and trustees – and raised over £2,000. We were proud to see runners of all abilities coming together for a joyful and inclusive festive run through the heart of London.

We had a great time. It’s such a wonderful event and it’s brilliant that it’s so accessible for everyone.

LIZ

TNBA RUNNER

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Strategy goal #3

Ambitious fundraising

This year, we raised funds through a broader range of activities, putting us in a stronger position to improve the lives of even more people with neurological conditions. Our new, diverse and sustainable fundraising strategy is laying the groundwork to reach our ambitious goal of £15m annually.

Voluntary income for the year reached £4.19m with growth across all areas (excluding legacies), particularly from grant-making trusts and corporate partners backing our two capital projects.

We also reduced the cost of fundraising by £490,000, a significant reduction from £1.71m the previous year down to £1.22m.

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Corporate support got a boost

We chose this Charity of the Year for the hundreds of brilliant projects it supports, from state-ofthe-art operating theatres to innovative treatment trials. Fundraising and volunteering for charities like this really does change people’s lives, and we’re very pleased to have been part of The National Brain Appeal’s journey.”

HUGH GOODFELLOW, MANAGING PARTNER CARPMAELS & RANSFORD

We had a fantastic array of corporate supporters this year – these organisations pulled out the stops to raise funds for us, and some even exceeded their original target. Three were especially successful. We are incredibly grateful to these organisations for supporting us so wholeheartedly.

Carpmaels & Ransford

Intellectual property firm Carpmaels & Ransford, spent 12 months fundraising for us. The company’s enthusiastic employees took on a huge range of activities, from organising their own events like quiz nights and bake sales, to joining our 40th anniversary Thames Path Challenge and volunteering at our annual art fundraiser A Letter in Mind.

The team set out to raise £10,000 to support those living with neurological conditions. Thanks to their epic efforts, they more than doubled that total, raising an outstanding £24,000.

Mewburn Ellis

London Intellectual Property firm Mewburn Ellis have supported The National Brain Appeal through a fantastic two-year partnership. In September 2024, they put together a team of employees to take part in the Thames Path Challenge to celebrate our 40th anniversary. The 10-person team joined other many other supporters, as well as members of The National Brain Appeal staff team, to walk the scenic 28km course along the river past from Bishop’s Park to Hurst Park.

“We’re delighted to be supporting The National Brain Appeal. Their work aligns with some of the technology areas in which we work and the values of our people, many of which are passionate about helping those with neurological conditions. We are looking forward to getting involved with this important charity,” said Maria Hall, Community Champion at Mewburn Ellis.

The challenge was the latest in a variety of ways that Mewburn Ellis have supported The National Brain Appeal. In 2023, they committed £30,000 over two years to support our creation of the New Home for Neuroscience, located on Grays Inn Road.

Events R Talented

Ken Findlay, co-founder of Events R Talented – which organises audition and performance evenings to raise money for charities – fundraised for Rare Dementia Support (RDS) and the RDS Centre after his brother was diagnosed with frontotemporal dementia.

He organised a gala dinner and performance that was attended by more than 200 event professionals. Ken says, “What an event! We discovered some fantastic talent from those who attended. And more importantly, we raised £18,000 for RDS. A big thank you to all those in the events industry who supported us, you certainly showcased the industry at its best.”

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High-profile events and opportunities

JO & GRANT BERRY It featured performances by electric string ensemble String Infusion, DJ Jorge and singer Heather Small, lead vocalist of M People. It raised an extraordinary £190,000, which has been split between our RDS fund and the RDS Centre appeal.

Golf fundraiser

In addition, NorthEdge Capital (which Grant co-founded), held a golf day which raised a further £33,100. The couple described their fundraising event as “a positive reaction to the challenging news that descended on our family in 2021”. Jo added: “It is about supporting everyone who has been touched by dementia – those who have suffered or are suffering, and those who have cared for or are caring for those affected by this terrible disease.”

One of the huge successes of our year was our special events and activities income, which grew by a substantial 41% – from £291,000 to £410,000.

Passionate supporters of RDS

Jo and Grant Berry have become stand-out fundraisers, hosting two fundraising events: a gala dinner and a golf day. They have been members and supporters of RDS since Jo’s diagnosis of semantic dementia, also known as primary progressive aphasia (PPA) in 2021.

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NORTHEDGE TEAM
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Their glamorous gala dinner, ‘Night of Support for Rare Dementias’ was hosted by comedian, actor and DJ Justin Moorhouse.

The Greatest gala

In further good news, we were fortunate enough to benefit from a ‘Greatest Showman’-themed ladies lunch organised by the Bling Fling committee, who are based in Halifax.

It was a feast for the eyes with dazzling acts, stilt walkers and fire eaters, and included speeches from National Brain Appeal supporter, Andrew Illingworth, and RDS Head of Direct Support Team, Nikki Zimmermann.

Around 300 attendees made the event a roaring success and raised more than £30,000. The money will help to support even more people affected by a rare dementia diagnosis.

A Letter In Mind

October 2024’s A Letter in Mind was a great success, with a record 914 artworks submitted, more than 400 pieces sold and over £50,000 raised. We were thrilled that more than 200 people attending our private view evening at Gallery Different in Fitzrovia, London.

A large boost to income came from sponsorship thanks to The Foyle Foundation, which contributed £12,000 towards event costs.

We also had a glittering array of celebrity supporters, see strategy goal #4, p43, for more details.

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Challenge events

We are incredibly grateful to our dedicated supporters who raised over £366,000 this year by taking on challenge events. An impressive 258 people got involved and the range of challenges undertaken was broader than ever.

There were so many wonderful fundraisers over the 12 months, it’s hard to choose the highlights, but here are just three.

Team Brain Appeal raises £140k+ at the London Marathon Our 2024 TCS London Marathon team raised more than £140,000 thanks to 43 runners, who included hospital staff, patients, and their families.

Suhan Rajkumar led the team, finishing in 2hr 55mins, inspired by a friend’s successful brain tumour surgery. Actor Jamie De Courcey – whose father Roger was treated at The National Hospital following a stroke – ran with ‘Nookie’, a stuffed teddy bear. Nookie was part of Roger’s popular ventriloquism act in the late 1970s which won the ITV talent show New Faces .

Cheering on her brother Elliott and boyfriend Ben was Gaby Dagul. She had life-saving brain surgery at The National in 2011, operated on by consultant neurosurgeon Mr Neil Kitchen who has himself run 11 marathons for The National Brain Appeal. They have raised £27,650, and Elliott says, “Gaby was 15 when she underwent her operation and, as you can imagine, it was very difficult for all of us. We spent a lot of time with Gaby at the hospital so giving something back is the least that we can do.”

“Mr Kitchen was unbelievable,” says Gaby, “and, as well as the surgery, I had months of physio and rehab. It’s a very special hospital and so are all the people there.”

Claire Green was running to mark being 10 years seizure-free thanks to Professor John Duncan and his team at Queen Square. Completing the race in four hours and 40 minutes, Claire says, “I am so grateful to Prof Duncan and his team. I truly believe without their specialist approach I would not have my two healthy children, be driving, living with no side effects of my medication and working full time.”

By taking part in the marathon I was sending my best wishes and gratitude to all of the hospital staff who looked after Dad. It was a fantastic and uplifting experience.”

JAMIE DE COURCEY

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The scenery was beautiful, but the race was tough, especially in the 30-degree heat! When I was running the marathon, my body was screaming for me to stop. I knew I had to keep going – that if I stopped, I wouldn’t be able to start again!”

KEVIN FISHER

12-hour Ironman test for supporter Kevin Fisher completed an Ironman challenge in northern Spain’s Basque country and has raised over £5,000 for The National Brain Appeal. Kevin was diagnosed with a brain tumour in 2019 and has fundraised for brain tumour research every since by taking on numerous challenges.

He started with a 2.4-mile swim, then cycled 112 miles, followed by a 26-mile marathon, completing the Ironman in 12 hours and 39 minutes.

First-ever bespoke challenge event This year saw our first bespoke challenge event. More than 60 people took part in the Thames Path Challenge to mark our 40th anniversary on a sunny Saturday in September, and collectively raised an amazing £25,000.

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THE CARPMAELS & RANSFORD TEAM
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Special thanks to the 19-strong team from our corporate partners, Carpmaels & Ransford, and the 10-person team from Mewburn Ellis that included Joanna Smith, a longstanding supporter and Rare Dementia Support member.

Several members of the charity team, hospital staff and the charity’s president, Caroline Church, also walked the 28km along the River Thames.

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Connecting with our supporters, and boosting our impact

Our autumn/winter issue of The National was the most popular in years. Every single copy of the bi-annual magazine in the hospital was picked up by patients, visitors and staff, and the issue inspired a recordbreaking £47,625 in donations.

This year, five fundraising appeals were sent out – they ranged from raising support for the RDS Champions Programme to sharing our Annual Review with smaller trusts and foundations. Together, these raised an incredible £90,650, all thanks to the continued generosity and belief of our community.

Our lottery initiative is now in its third year, and growing stronger. More people than ever are taking part as a way to support our work, having seen details on posters around the hospital, across our communications and in Facebook paid advertising.

Generous major donors

It has been an outstanding year for us in terms of the major gifts that we’ve been fortunate to receive. We were delighted to receive an extremely generous award of £750,000 for our Rare Dementia Support Centre appeal from Wolfson Foundation.

We were also thrilled to receive our first gift of £213,000 from The Linbury Trust for an RDS-led threeyear Rare Space Cultural Programme. (see p20 for more information on this).

As mentioned in Strategy Goal #1, we have major donors directly supporting six PhD and other research appointments in areas of rare dementia research. This generous support is enabling groundbreaking research into earlier diagnosis and, ultimately, developing new treatments for rarer and genetic forms of dementia (see p24 for more details).

Brain Breakthroughs Faster

We launched a digital appeal called Brain Breakthroughs Faster, designed to recruit new supporters and focusing on the exciting New Home for Neuroscience.

Our key aim was to reach out to audiences who hadn’t yet heard of The National Brain Appeal. We worked with a creative agency to optimise our proposition, and testing got underway in summer 2024. The testing activity recruited more than 1,000 people who responded to the ads to express an interest and who we hope will be interested in becoming donors.

Christmas shop proves popular

The Christmas products in our shop performed exceptionally well this year – we put this down to a combination of an extremely popular sell-out Christmas card (designed by our competition winner, see below), targeted social media adverts in the run-up to Christmas and having pride of place in our winter newsletter, which contained a flyer showcasing all our Christmas offerings.

Our Winter Robin card, which sold out in record time, was designed by this year’s Christmas card competition winner. Retired teacher, Catherine Archer, underwent spinal surgery at The National Hospital in 2000, and now she’s delighted to be using her art skills to help raise funds for The National Brain Appeal.

Thanks to our generous supporters, this year we raised almost £11,000 through the sale of our Christmas cards alone.

I’m absolutely thrilled to have won. It’s a charity that is very dear to my heart and I’m eternally grateful to the hospital and to my surgeon, so any money that can be raised is wonderful.

CATHERINE ARCHER

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Strategy goal #4

Awareness raising

Over the past year, we have made strong progress towards our goal of raising awareness of The National Brain Appeal – ensuring that even those not personally affected by neurological conditions understand the importance of our work and the urgent need for funding.

A wide range of high-profile media coverage has helped us reach new audiences and build our presence across news, healthcare, science, and philanthropy sectors. This has often been supported by our incredible network of public figures, celebrities, and influencers, who generously and enthusiastically share our messages and broaden our reach.

The following events not only raised substantial funds, but also played a key role in advancing our awareness and engagement objectives.

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A Letter in Mind

This was our biggest exhibition to date and we also secured high-profile coverage for it.

Dame Zandra Rhodes, who kindly donated an artwork to the exhibition, gave an interview to Metro talking about why she loves taking part. This was a full-page interview with several mentions of the charity and full exhibition details.

Other artists and celebrities taking part included Boiling Point and Line of Duty actor Stephen Graham OBE, actor and producer Hannah Walters, actors Sophie Thompson and Greg Wise, Gruffalo illustrator Axel Scheffler, comedian and presenter Harry Hill, journalist and presenter Andrew Marr, and illustrator and political cartoonist Chris Riddell OBE.

There’s such a great variety. It’s amazing what people can do with just that scale of an envelope. You can see that everyone cares and they put such love into the whole thing and it’s all different. There’s something for everyone. They are so charming.”

DAME ZANDRA RHODES

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Christmas Carol Concert

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STEPHEN MANGAN, ELSPETH PIERCE,
TAMSIN GREIG AND INDIRA VARMA
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More than 200 guests joined our annual evening of carols and festive readings, celebrating the charity’s 40th anniversary, raising nearly £5,000.

BBC presenter Nick Robinson was our lively MC for the evening, which boasted a star-studded line-up of performers including actors Stephen Mangan, Tamsin Greig, Indira Varma and Radio X DJ Elspeth Pierce, alongside consultant neurologist and National Brain Appeal trustee, Dr Chris Turner.

Musical performances came from The Julius Singers, pianists Richard Sisson and Stefanija Nikolich, consultant neurologist and composer Nick Losseff, violinist Sara Trickey, flautist Katy Birch and bassoonist Zoe Shevlin.

The event was a huge success, and the involvement of popular household names attracted a lot of positive publicity, helping us raise awareness of our work among a wider audience while celebrating with new and longstanding supporters the difference that they have helped us to make.

The Jennings vs Alzheimer’s

The Jennings vs Alzheimer’s , a BBC Two documentary aired during Dementia Action Week 2024, spotlighted the extraordinary role Carol Jennings and her family played in transforming the understanding of Alzheimer’s disease.

The National Brain Appeal supported this important documentary. We set up filming in the hospital and Dementia Research Centre on behalf of UCLH and UCL.

The documentary captured the profound impact of Carol’s legacy on the search for a cure. With promising developments such as lecanemab, the first approved disease-modifying drug for Alzheimer’s, researchers believe we are entering a new era of hope.

In the 1980s, Carol wrote a letter to Queen Square’s Professor John Hardy, then a young researcher, detailing her family’s history of earlyonset Alzheimer’s. This letter, marked ‘Family 23’, became the turning point in Alzheimer’s research.

The National Brain Appeal supported filming of the documentary and continues to fund major projects in dementia, including Rare Dementia Support (RDS), for which Carol was the first adviser. Her story remains a powerful example of how one person’s courage and contribution can change the future for thousands.

Carol’s case led to the discovery of a genetic mutation in the amyloid precursor protein (APP) gene, proving that Alzheimer’s could be hereditary. Carol became a lifelong research volunteer, returning annually to the UCL Dementia Research Centre and The National Hospital.

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Sophie Kinsella shared her diagnosis

We interviewed best-selling author, the late Sophie Kinsella, who had glioblastoma, for our website, our newsletter, The National, and a joint social post that had high engagement. Sophie talked about her brain cancer diagnosis, her treatment at Queen Square and how writing helped her cope.

Her symptoms began in late 2022 with headaches, confusion, and loss of mobility. After a scan revealed a tumour in her right temporal lobe, she underwent surgery performed by consultant neurosurgeon Professor Andrew McEvoy, followed by radiotherapy and chemotherapy under Drs Michael Kosmin and Paul Mulholland (pictured here with Sophie). Sophie said the diagnosis was devastating and overwhelming, particularly when thinking about her five children and husband.

In December 2025, Sophie passed away. We are incredibly grateful to Sophie for using her voice to shine a light on glioblastoma, the need for new treatments and the work of The National Hospital.

It can be so lonely to have any kind of cancer. I am in awe of anyone who deals with this disease and I send my deepest love and support and healing thoughts to all. You are not alone.”

SOPHIE KINSELLA

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New celebrity ambassadors join us

This year two new celebrity supporters joined us: actress Indira Varma and Radio X DJ Elspeth Pierce. Both feel passionately about improving treatment and finding cures for neurological conditions.

Elspeth has been under the care of The National Hospital for many years following a life-threatening brain haemorrhage in her 20s caused by a complex arteriovenous malformation (AVM). After years of surgery, treatment and rehabilitation, National Hospital consultant neurosurgeon Mary Murphy finally gave her the all-clear with the words, “Go forth and live your life” – a quote Elspeth has since tattooed on her arm.

Her deep gratitude inspired her to give both of her children the middle name Murphy and to support our work in many ways, including reading at our Christmas Carol Concert and running the London Landmarks Half Marathon to raise funds – with Mary running beside her.

Indira Varma is an Olivier-award winning actress and best known for her roles on stage and in a range of TV programmes, including Game of Thrones .

During the pandemic, she took part in the charity’s Story Time campaign, reading a poem to raise emergency funds for hospital staff. She later contributed artwork to the fundraising exhibition A Letter in Mind, and, in 2024, performed at our Christmas Carol Concert.

Neurological conditions have personally affected Indira’s family. Her father, Shyam, was diagnosed with motor neurone disease (MND) after initially being misdiagnosed. His symptoms progressed rapidly and he died within a year. Her mother, Beatrice, now lives with Alzheimer’s and receives care at home.

Indira says, “I have seen first-hand how devastating MND and Alzheimer’s can be. The charity wants to transform the lives of people living with these and other conditions through the projects that they fund, and I think that is amazing. I am delighted to be an ambassador to help support their work.”

Both ambassadors bring passion, energy and heartfelt experience, and we’re honoured to have them on board.

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ELSPETH PIERCE WITH DR MARY MURPHY
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Mary Murphy is a hero in our house. I wouldn’t be here if it wasn’t for her. Looking back, I wouldn’t change the fact that any of this happened to me. It’s shaped my life in a good way. It has given me a determination and a zest for life that I wouldn’t have had otherwise.”

ELSPETH PIERCE

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A Python on the prom

The campaign to raise a bronze statue of Monty Python legend Terry Jones in his seaside hometown of Colwyn Bay hit its £120,000 target. The statue is set to be unveiled in early 2026 and will feature a plaque encouraging visitors to support The National Brain Appeal and Conwy Arts Trust in Jones’ memory.

Terry was diagnosed with frontotemporal dementia in 2015 and died in 2020. He was under the care of Professor Nick Fox at The National Hospital. A Python on the Prom was launched last September by Michael Palin and Terry Gilliam. Stand-up star Suzy/Eddie Izzard gave a £6,000 donation, which took the appeal total over the line.

Sally Jones, Terry’s daughter, who is leading the fundraiser with her brother Bill says, “We want to thank everyone who has made a donation, but we don’t want to stop there. We really would love people to carry on donating and from this point on all donations will be split between the Conwy Arts Trust and The National Brain Appeal.”

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BILL JONES, MICHAEL PALIN, SALLY JONES
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Brain tumour research

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DAME SIOBHAIN
MCDONAGH MP
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We worked with the Mail on Sunday on their health supplement lead story, a three-page spread, instigated by Dame Siobhain McDonagh MP, which referenced The National Brain Appeal as backing Dr Paul Mulholland’s research. The story was also picked up by the Daily Express and GB News.

Bringing a fresh energy to our brand

We’ve given our brand a refresh to help it better reflect who we are today – positive, human, engaging and full of energy.

The aim is to create a bold and dynamic presence across all media channels, while keeping enough continuity with our current look to make the change gradual and cost-effective.

This isn’t a full rebrand or name change. It’s about dialling up what makes us unique – making the visuals and language feel more modern, relatable and fresher.

We have rolled out bolder colour use, stronger identity and a look that’s unmistakably ours.

Our next stage is to roll this out in key hospital areas to raise our charity’s awareness with patients and staff. See ‘What’s planned for next year, by strategic area’ (p51).

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What’s planned for next year, by strategic area

Over the coming year, we will continue to build on the success of our work over the past 12 months and to pursue our strategic aims:

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Strategic Goal #1 Inspiring funding programmes

We are undertaking a series of strategic initiatives to strengthen our grant-making, funding partnerships and major appeal planning.

As major capital projects progress, we are working closely with UCL to put in place formal agreements for the Rare Dementia Support Centre and the Gray’s Inn Road programme. These agreements will outline funding timelines, reporting requirements and drawdown schedules.

A key priority is the identification and development of three high-impact causal areas to support through a new high-value fundraising appeal. This will involve launching an open call to identify delivery partners, hosting application workshops and securing guidance from an advisory panel.

We will oversee delivery of the first year of a new £500,000 commitment to support Rare Dementia Support, ensuring robust governance and alignment with agreed milestones.

Alongside these initiatives, we are aiming to:

In parallel, we will continue to deliver our core grant programmes, including the Innovation Fund, which we are seeking to grow, and Small Acorns Fund – both funds support pioneering ideas and smaller-scale initiatives with clear potential for patient benefit. We also plan to meet with clinical leads to develop clear strategies for our five largest, existing, restricted areas.

• allocate more than 30 new grants in the coming financial year;

• increase the range of new projects that we support, ensuring a minimum of 10 each year;

• give larger grants, with a minimum value of £3m.

Strategic Goal #2 Insight and impact

We are continuing to develop our new impact framework to ensure that we are collecting the most meaningful feedback from the grants we award and that we’re able to maximise learning and insight that can be disseminated throughout the field of neurology.

A strategy has been developed in collaboration with philanthropy, events and fundraising teams to ensure engaging stories are surfaced across all areas. Formalised information sharing is built into workstreams to ensure effective dissemination and standard messaging has been introduced to help teams invite story submissions.

We will continue to produce at least six new patient stories annually, including three focused on under-represented conditions, and to share each of these across at least two channels (e.g. website, social media, e-letter).

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Strategic Goal #3 Growing our income

To meet our ambitious fundraising goals, we are focusing on strengthening digital performance, enhancing donor journeys, expanding fundraising reach, and ensuring our major appeal delivery remains on track.

Digital and website improvements

are central to our strategy. We are using Meta paid ads to amplify fundraising campaigns, optimise high-performing content, and test targeted supporter journeys. Alongside this, we are updating our website interface and campaign pages in line with new brand guidelines to improve user experience, engagement time, and conversion rates. Work is also underway to increase site speed and restructure high-traffic pages, including optimising donation and newsletter sign-up processes.

Unrestricted income growth is supported through targeted small trust mailings, seasonal appeals, and fundraising campaigns such as Brain Breakthroughs Faster. Our donor recruitment and stewardship plans will ensure we build long-term, high-quality relationships with supporters across multiple channels.

Legacies , sharing the opportunity for supporters to make provision for a gift in their Will, or commemorate the life of a loved one through gifts given their memory remains a key priority, with new materials, awareness raising, and ongoing administration aligned with best practice.

Major events , including the Carol Concert and A Letter in Mind, will be delivered to maximise income generated and inform future event development. Challenge events and community fundraising continue to be central to supporter engagement, with plans to launch a new TNBA-led trek and incelebration fundraising programme.

Major appeals , including the Grays Inn Road and Rare Dementia Support Centre programmes, are supported through ongoing donor reporting, stewardship, and naming recognition. The identification of new potential supporters through our existing networks is being carried out for both capital and revenue fundraising.

The Innovation Fund and

Small Acorns programmes are being supported by ambassador recruitment, cultivation events, and targeted trust applications. A major donor strategy and new philanthropy webpage are being developed to support future growth.

Other income streams are continually assessed. Alongside increasing our income through our Lottery, plans for our shop merchandise are being reviewed and expanded as an alternative avenue for boosting awareness and supporting income.

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Strategic Goal #4 Awareness raising

We are working to strengthen awareness, engagement and support for The National Brain

Appeal through a multi-faceted communications strategy that spans internal, public and digital channels.

A key priority is increasing our visibility within the hospital, using new signage, branded materials and an improved information stand to boost visitor and donor engagement and newsletter sign-ups.

We are maintaining strong awareness among Queen Square staff by enhancing our presence during onboarding, recruiting Charity Champions (staff volunteers who help spread the word at Queen Square about our work) and strengthening internal communications. The recent brand refresh is being showcased in a number of ways to reinforce our visual identity – modern, consistent and engaging across all touchpoints.

Close collaboration with clinical teams and researchers enables us to generate compelling stories that demonstrate the real-world impact of our work. In parallel, we are working with fundraising teams to deliver a coordinated marketing plan that highlights key projects.

We continue to build community engagement through supporter stories and user-generated content, while keeping audiences informed through newsletters, our website and The National . Efforts to expand beyond our existing supporter base include joint campaigns with UCLH and UCL, along with identifying media opportunities to raise awareness.

To reach even wider audiences, we are securing regular national and regional media coverage, strengthening links back to our own site from external sites, engaging celebrity supporters, and boosting digital reach through targeted social content and SEO optimisation, including effective use of Google Grants.

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Legal and administrative details

The National Hospital for Neurology and Neurosurgery Development Foundation (also known as The National Brain Appeal)

Statutory Auditor

Moore Kingston Smith LLP 6th Floor 9 Appold Street London EC2A 2AP

A company limited by guarantee

Solicitors

Chair

Jackie Ashley

Treasurer

Richard Blakey

Chief Executive/ Company Secretary Claire Wood Hill

Charity Registration Number 290173

Company Number 01844281

Charles Russell Speechlys LLP 5 Fleet Place London EC4M 7RD

Bankers

Royal Bank of Scotland 127-128 High Holborn London WC1V 6PQ

Investment Managers

Cazenove Capital 1 London Wall Place London EC2Y 5AU

Principal Address and Registered Office The National Hospital Queen Square, London WC1N 3BG

LEFT: JON WOLLOFF AND MAT REVITT

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Donors

We are deeply thankful to every donor, company, grant-making trust and foundation whose generous support has made our work possible. Without you, The National Brain Appeal simply could not fund the wide range of vital projects we deliver. Our sincere thanks to all who have contributed this year, including:

New Home for Neuroscience

General Fund

Action For Neurological Disorders Carpmaels & Ransford Ardea Cares Charitable Fund James Clifford Campling Trust Bellasis Trust The Charles Wolfson Charitable Trust Brookfield Properties The Grace Trust Carpmaels & Ransford Volkswagen Group UK Ltd Chandris Foundation Citibank Non-Dystrophic Myotonia Danny Sullivan Group Lupin Healthcare G L Doubleday Charitable Trust John Wiley & Sons Rare Dementia Support and Centre Lady Blakenham’s Charitable Trust Events R Talented Mewburn Ellis LLP Health Partners Mishcon de Reya Iceland Foods Charitable Foundation Much Ado About Books Keene Family Charitable Trust PF Charitable Trust Kirby Laing Foundation Royal Bank Of Scotland PLC NorthEdge The Bryan Guinness Charitable Trust Rosetrees The Foyle Foundation The Brenley Trust The Oldhurst Trust The Girdlers’ Company Charitable Trust The Stansmore Charitable Trust The Linbury Trust The Stella Foundation Trustees of the B&H Foundation

Events R Talented Health Partners Iceland Foods Charitable Foundation Keene Family Charitable Trust Kirby Laing Foundation NorthEdge Rosetrees The Brenley Trust The Girdlers’ Company Charitable Trust The Linbury Trust Trustees of the B&H Foundation Wolfson Foundation

Innovation Fund

Ambrose & Ann Appelbe Trust C A Pilgrim 3 Limited Consuelo and Anthony Brooke Charitable Trust Q Charitable Trust Rosetrees The RDJ Foundation

Small Acorns Fund

The A.B. David Charity

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About this report

The Trustees, who are the directors of the charitable company, present their report and the audited accounts for The National Hospital Development Foundation (the Foundation) for the year ended 31 March 2025.

The Charity’s working name is The National Brain Appeal. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities”.

Status and Objects

The Foundation was incorporated on 29 August 1984 and is a company limited by guarantee with charitable status. It is registered as a charity in England and Wales, number 290173.

The Foundation has been established to promote the relief and prevention of diseases of the nervous system. Funds raised by the Foundation are to be used for the erection and maintenance of buildings, the purchase and maintenance of medical equipment, for education and for clinical research.

Public Benefit

We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. The Charity supports a range of activities to advance treatment of and research into neurological conditions, which is clearly of public benefit.

Governance

The Trustees determine the direction and policy of the Foundation in response to requests from The National Hospital for Neurology and Neurosurgery (NHNN) and the Queen Square Institute of Neurology. The members are elected by Council (which comprises the directors of the company) to serve a period of three years and are unremunerated. There are currently 13 Trustees and they are recruited by recommendation, advertisement and interview. Ad hoc committees, which include the Trustees, are formed to run periodic special events. The Trustees who met four times in the year ended 31 March 2025 have delegated the day-to-day administration of the Charity to the Chief Executive. The Chief Executive has regular meetings with the Chair and Treasurer. The Chair determines the salary of the Chief Executive.

Investment powers

Under the memorandum and articles of association, the Charity has the power to make any investment the Trustees see fit.

A Sub-Committee of the Trustees monitors the Charity’s investments and reports annually to the Board.

The policy for invested funds focuses on maximising income. The performance for the year was considered satisfactory.

Reserves policy

Total reserves held at the year end by the Charity amounted to £8,461,033 (2024: £9,041,846), of which £4,670,408 were held as restricted funds (2024: £4,974,730) and a further £2,510,000 were designated for specific purposes (2024: £2,510,000). The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (“the free reserves”) held by the Charity should be sufficient to meet between 9 and 15 months’ staff and office costs (at 31 March 2025, this represents a minimum of £1,226,961). Total free reserves as at 31 March 2025 were £1,280,625, which complies with our reserves policy. The Trustees consider that they would be able to continue the current activities of the Charity in the event of a drop in funding as a sufficient proportion of the designated funds will not be required in the next 12 months.

Risk exposure

The Trustees have addressed the major risks to which the Charity is exposed, in particular those relating to its operations and finances, and are satisfied that the systems in place are sufficient to manage the exposures identified. As the Charity does not directly provide charitable services, the main risks are being unable to deliver promised funding on time. However, Trustees are careful not to overcommit and pledges are considered in relation to assets held and predicted cash flow. A risk register has evolved to detail risks and the controls and mitigations in place to manage this risk.

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Trustees

The risk register is reviewed each year. In addition, the Trustees approved a risk appetite statement during the financial year that helped to underpin strategic decision making.

Fundraising

We have referred to the charity finance regulations (SORP) and can confirm:

• The Charity is registered with the Fundraising Regulator and as such, puts appropriate measures in place to ensure that the regulations set out are adhered to.

• The Charity did not receive any direct complaints made about its fundraising practices within the past year, nor did it receive notification of any other complaint made to the Fundraising Regulator or Charity Commission.

• The Charity has a policy for ‘Fundraising with People in Vulnerable Circumstances’ in place, which has been written by the charity’s senior management team in line with guidance provided by the Chartered Institute of Fundraising, and ratified by the Trustees.

The Trustees of the Charity who served during the year were:

Jackie Ashley (Chair)

Glenda Baillie

Richard Blakey (Treasurer)

Professor John Duncan

Professor Mike Hanna

David Leibowitz (appointed 9 July 2024)

Hadi Manji (appointed 8 April 2024)

Hani Marcus

Suzanne Miller

Diarmid Ogilvy

Dee Rudran (appointed 27 June 2024)

The President of the Charity is: Caroline Church

The Honorary President is: Edward Datnow FRCS

Dame Elizabeth Slade

Dr Chris Turner

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Statement of Trustees’ Responsibilities

The Trustees (who are also directors of The National Hospital for Neurology and Neurosurgery Development Foundation for the purposes of company law) are responsible for preparing the Trustees’ Report (incorporating the Directors’ Report) and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period.

In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and apply them consistently

• observe the methods and principles in the Charities SORP

• make judgments and estimates that are reasonable and prudent

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006.

They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

• there is no relevant audit information of which the charitable company’s auditor is unaware; and

• the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislations in other jurisdictions.

Auditor

A resolution to re-appoint the auditor, Moore Kingston Smith LLP will be proposed at the annual general meeting.

Small company provisions

The report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

By order of the Trustees

Jackie Ashley Chair

Date: 16 October 2025

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Independent auditor’s report

Opinion

We have audited the financial statements of (the National Hospital for Neurology and Neurosurgery Development Foundation (‘the company’) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the charitable company’s affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual 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 express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the trustees’ annual report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the trustees’ annual report and from preparing a strategic report.

Responsibilities of Trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine 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 charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities 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 material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

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• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the charitable company’s internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.

— Conclude on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charitable company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company.

Our approach was as follows:

• We obtained an understanding of the legal and regulatory requirements applicable to the charitable company and considered that the most significant are the Companies Act 2006, the Charities Act 2011, the Charity SORP, and UK financial reporting standards as issued by the Financial Reporting Council.

• We obtained an understanding of how the charitable company complies with these requirements by discussions with management and those charged with governance.

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• We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.

• We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations.

• Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members 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 any party other than the charitable company and charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Adam Fullerton

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

(Senior Statutory Auditor)

for and on behalf of Moore Kingston Smith LLP, Statutory Auditor: 6th Floor, 9 Appold Street, London EC2A 2AP

Date: 13 November 2025

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Statement of Financial Activities

		Unrestricted	Restricted	Total funds	Total funds
		funds	funds	2025	2024
Income	Notes	£	£	£	£
Donations and legacies	4	1,084,264	2,570,098	3,654,362	6,534,269
Investment income	5	531,018	-	531,018	405,068
Rental income		-	-	-	16,897
Total income		1,615,282	2,570,098	4,185,380	6,956,234
Expenditure
Costs of raising funds	6	1,096,670	120,914	1,217,584	1,709,031
Expenditure on charitable activities	7	656,906	2,772,293	3,429,199	6,531,257
Total expenditure		1,753,576	2,893,207	4,646,783	8,240,288
Net income/(expenditure) before transfers		(138,294)	(323,109)	(461,403)	(1,284,054)
Transfers between funds		(18,787)	18,787	-	-
Net income before gains and losses		(157,081)	(304,322)	(461,403)	(1,284,054)
Net gains/(losses) on revaluation of investments	12	(119,410)	-	(119,410)	516,771
Net income/(expenditure) and net movement in funds	11	(276,491)	(304,322)	(580,813)	(767,283)

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		Unrestricted	Restricted	Total funds	Total funds
		funds	funds	2025	2024
Reconciliation of funds	Notes	£	£	£	£
Total funds brought forward at 1 April 2024		4,067,116	4,974,730	9,041,846	9,809,129
Total funds carried forward at 31 March 2025		3,790,625	4,670,408	8,461,033	9,041,846

All above amounts are derived from continuing operations.

All gains and losses for the year are shown above.

The notes on pages 71 to 86 form part of these financial statements.

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Balance Sheet

Balance Sheet
		2025		2024
FIXED ASSETS	Notes	£ £	£	£
Investments	12	12,463,565		11,801,670
		12,463,565		11,801,670
CURRENT ASSETS
Debtors	13	803,757	510,705
Bank balances and cash in hand		430,368	847,474
		1,234,125	1,358,179
CREDITORS
Amounts falling due within one year	14	(5,236,657)	(4,118,003)
NET CURRENT (LIABILITIES)/ASSETS		(4,002,532)		(2,759,824)
TOTAL ASSETS LESS CURRENT LIABILITIES		8,461,033		9,041,846

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	2025		2024
ACCUMULATED FUNDS	Notes £ £	£	£
Unrestricted funds
General fund	16 1,280,625		1,557,116
Designated funds	16 2,510,000		2,510,000
Total Unrestricted Funds	3,790,625		4,067,116
Restricted Funds	17 4,670,408		4,974,730
TOTAL FUNDS	19 8,461,033		9,041,846

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were authorised for issue on 16 October 2025 and were signed on their behalf by

Richard Blakey Treasurer

Jackie Ashley Chair

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Statement of Cash Flows

A. RECONCILIATION OF NET INCOMING RESOURCES
TO NET CASH INFLOW FROM OPERATING ACTIVITIES	2025	2024
	£	£
Net movement in funds	(580,812)	(767,283)
(Gain)/Loss on disposal of fxed assets/investments (unrealised)	119,410	(516,771)
Decrease/(increase) in debtors	(293,052)	970,518
Increase/(decrease) in creditors	1,118,654	3,545,935
Investment (income) shown in investing activities	(531,018)	(405,068)
Net cash infow from operating activities	(166,818)	2,827,331
STATEMENT OF CASH FLOWS	2025	2024
	£	£
Net cash infow from operating activities	(192,608)	2,827,331
Cash fows from investing activities
Financial investment (purchase)	-	(500,000)
Proceeds from disposal of investments (at opening market value)	7,788	25,448
Investment income received	531,018	405,068
(Increase)/decrease in investment cash	(789,094)	(2,409,551)
Cash (used in)/provided by investing activities	(250,288)	(2,479,035)
(Decrease)/increase in cash and cash equivalents in the year	(417,106)	348,296
Cash and cash equivalents at the beginning of the year	847,474	499,178
Cash and cash equivalents at the end of the year	430,368	847,474

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Notes to the financial statements

1 Company information

The National Hospital for Neurology and Neurosurgery Development Foundation is a charitable company limited by guarantee incorporated in England & Wales and domiciled in England.

The Registered Office is The National Hospital, Queen Square, London WC1N 3BG.

The principal activity of the Charity is to promote the relief and prevention of diseases of the nervous system.

The Company’s registered number is 01844281. The registered Charity number is 290173.

The functional and presentation currency of these financial statements is GBP and the financial statements are rounded to the nearest £1.

2 Accounting policies

(a) Accounting basis

The financial statements cover the period 1 April 2024 to 31 March 2025.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) – (Charities SORP (FRS 102)), the Financial Reporting standards applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and the Charities Act 2011.

The National Brain Appeal meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant policy note(s). They are prepared under the historical cost convention with the exception of fixed asset investments, which are recorded at market value.

(b) Going concern

The financial statements are prepared on a going concern basis, which assumes the charitable company will continue in operational existence for the foreseeable future.

The Trustees have considered the going concern status of the Charity for a period of twelve months from the date of approval of these financial statements. The charity has net current liabilities of £4,002,532 (2024: £2,759,824) at the balance sheet date but the

Trustees do not believe there are any indicators of a material uncertainty regarding the charity’s going concern status and this is supported by the open market value of fixed asset investments of £8,990,521 (2024: £7,999,198) and unrestricted funds of £3,790,625 (2024: £4,067,116). Outflows from the Charity are dependent on the income levels received by the Charity on an on-going basis. Based on detailed forecasts that have been prepared, the Trustees are satisfied that the charity has sufficient resources to meet its liabilities as they fall due during the period of 12 months from the date of approval of the financial statements

Accordingly, the Trustees continue to adopt the going concern basis in the preparation of the financial statements.

(c) Incoming resources

All incoming resources are included in the Statement of Financial Activities when the Charity is legally entitled to the income and the amount can be quantified with reasonable certainty.

(d) Legacies

Legacies are included when the Charity is advised by the personal representative of an estate that payments will be made, is probable of its receipt, and the amount involved can be quantified. .

(e) Incoming resources from activities to generate funds

• Income from activities to generate funds comprises amounts receivable from fundraising events for which tickets have been sold.

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(f) Resources expended

All expenditure is accounted for on an accruals basis, inclusive of irrecoverable VAT, and is allocated to the appropriate heading in the accounts.

Costs of raising funds include the costs incurred in generating voluntary income and the costs of direct publicity intended to raise the profile of the Charity.

Charitable expenditure comprises services supplied and activities undertaken that are identifiable as wholly or mainly in support of the Charity’s objectives.

Governance costs included in charitable activities are those costs associated with the governance arrangements of the Charity, and these include audit, legal advice for Trustees, costs associated with Trustee meetings and the cost of the preparation of the statutory accounts.

Support costs are those costs that enable raising funds and charitable activities to be undertaken. Where activities relate to more than one cost category, costs are apportioned on the most appropriate basis, predominantly with reference to staff time and on a reasonable and consistent basis.

(g) Investments

Investments are accounted for at market value, giving rise to unrealised gains/losses included in the Statement of Financial Activities. Realised gains/losses arising on the disposal of investments during the year are also included in the Statement of Financial Activities.

(h) Funds

The General fund is available to use at the discretion of Trustees in furtherance of the Charity’s objectives. Designated funds comprise funds that have been set aside by the Trustees for specific purposes. Restricted funds are funds received that are subject to specific restrictions as imposed by the donor or the nature of the appeal.

(i) Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more that three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of changes in fair value.

(j) Operating leases

3 Judgements

In preparing the Financial Statements, management is required to make estimates and assumptions that affect reported income, expenses, assets, liabilities, and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with expectations of future events believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

The Trustees consider that there are no judgements or estimates made in the process of applying the Charity’s accounting policies which have a significant effect on the amounts recognised in the statements.

They also consider that there were no key assumptions concerning the future or key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period

Operating lease charges are recognised in the Statement of Financial Activities when due.

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4 Donations and legacies

4	Donations and legacies	Unrestricted	Restricted	2025	2024
		£	£	£	£
	General donations (including major donors)	549,839	896,861	1,446,700	2,587,9332
	Donations from charitable trusts	43,452	1,208,839	1,252,291	2,476,340
	Legacies	163,415	6,350	169,765	799,156
	Sporting and challenge events	260,012	115,992	376,004	380,233
	Special events and activities	67,546	342,056	409,602	290,607
		1,084,264	2,570,098	3,654,362	6,534,269
5	Income from investments			2025	2024
				£	£
	Interest receivable from bank deposit accounts			3,419	-
	Income from investment portfolio			527,599	405,068
				531,018	405,068

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6 Costs of raising funds

6 Costs of raising funds
	Unrestricted	Restricted	2025	2024
	£	£	£	£
Direct costs	298,688	120,914	419,602	889,860
Support costs(note 8)
Staf costs	698,808	-	698,808	691,279
Rent and rates	32,020	-	32,020	49,509
Other costs	67,154	-	67,154	80,183
	1,096,670	120,914	1,217,584	1,710,831

7 Charitable activities

7 Charitable activities
	Unrestricted	Restricted	2025	2024
	£	£	£	£
Direct costs	-	2,772,293	2,772,293	5,921,001
Governance costs (note 7a)	297,022	-	297,022	215,831
Support costs(note 8)
Staf costs	279,906	-	279,906	312,910
Rent and rates	28,207	-	28,207	29,260
Other costs	51,771	-	51,771	52,255
	656,906	2,772,293	3,429,199	6,531,257

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Grants by activity	2025	2024
	£	£
Neurodegeneration	2,375,221	4,908,634
Neurology	(12,250)	703,584
Neurosurgery	105,739	39,159
Education and staf development	-	-
Queen Square	26,885	159,232
Technology and Innovation	276,698	110,392
	2,772,293	5,921,001
Grants by organisation	2025	2024
	£	£
UCLH NHS Foundation Trust	180,577	4,311,390
University College London	1,331,187	945,012
Other	1,260,529	664,599
	2,772,293	5,921,001

No grants were made to individuals in the current or prior year.

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7a Governance costs

7a Governance costs
	Notes	Unrestricted	Restricted 2025	2024
		£	£ £	£
Audit fee		22,575	- 22,575	20,453
Insurance		1,177	- 1,177	1,133
Other costs		24,656	- 24,656	50,440
Support costs
Staf costs	8	237,229	- 237,229	133,311
Rent and rates	8	3,813	- 3,813	3,351
Other costs	8	7,572	- 7,572	7,143
		297,022	- 297,022	215,831

8 Support costs

Support costs allocated to:	Governance	Charitable	Cost of
	Costs	activities	raising funds	2025	2024
	£	£	£	£	£
Staf costs	237,229	279,906	698,808	1,215,943	1,137,500
Rent and rates	3,813	28,207	32,020	64,040	82,120
Other costs	7,572	51,771	67,154	126,497	139,581
Total support costs (allocated)	248,614	359,884	797,982	1,406,480	1,359,201

The 2024 comparative values for Staff Costs and Rent and Rates were originally shown on the wrong lines in note 8 of the accounts. Note 8 has been amended to show these values on the correct rows.

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9 Staff

9 Staf
Staf costs	2025	2024
	£	£
Wages and salaries	522,483	134,965
Ex-gratia	-	30,000
Social security costs	52,518	16,324
Pension costs	35,368	3,757
UCLH recharged staf costs	537,183	738,459
Temporary staf	68,391	218,994
	1,215,943	1,137,500

There were 11 staff (2024:12) on average employed by University College London Hospitals NHS Trust contracted to work for the Foundation.

Staff costs are charged to the Foundation on the basis of the time spent working for the Foundation.

The recharge paid by the charity to University College London Hospitals NHS Trust contributes towards the cost of this individual providing a managerial service.

There was 1 (2024: 3) member of key management personnel directly employed by University College London Hospitals NHS Trust during the year.

There were 3 (2024: 4) members of key management

personnel directly employed by TNBA during the year.

Aggregate remuneration for the year for the key management personnel was £429,373 (2024: £438,298).

	2025	2024
£60,001 - £70,000	1	-
£70,001 - £80,000	1	2
£80,001 - £90,000	2	2
£110,001 - £120,000	-	1
£120,001 - £130,000	1	-

The Trustees received no remuneration (2023: £nil) and reimbursement of expenses £nil (2023: £85).

There were 11 employees on average employed directly by the Charity during the year (2024: 4).

The Charity’s key management personnel during the year was comprised of the Chief Executive, Director of Finance & Resources, Director of Digital & Communications and Director of Fundraising.

No ex-gratia payments were made (2024: £30,000) during the year.

The number of employees and UCLH staff whose remuneration exceeded £60,000 are as follows:

There were no other contracts or transactions with Trustees or connected parties except that the Foundation is grateful for a number of charitable donations totalling £591 (2024: £11,024) from five trustees.

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10 Related party transactions

There were no related party transactions during the year (2024: there was a transaction with a related party of the chief executive during the year of £178 and an amount outstanding at the year end from the chief executive of £30).

11	Net incoming resources	2025	2024
	This is stated after charging:	£	£
	Operating lease rental - premises	45,720	45,720
	Auditors’ remuneration - audit fees	22,575	20,453

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12	Fixed asset investments	2025	2024
		£	£
	Market value of equities and bonds at 1 April	8,990,520	7,999,198
	Additions at cost	-	500,000
	Disposals at opening market value	(7,788)	(25,448)
	Net unrealised gains/(losses) on revaluation at 31 March	(119,410)	516,771
	Market value of equities and bonds at 31 March	8,863,322	8,990,521
	Cash deposits	3,600,243	2,811,149
	Market value at 31 March	12,463,565	11,801,670
	Historic cost at 31 March	8,289,227	8,296,559
	Portfolio at 31 March	2025	2024
		£	£
	Multi-asset fund	8,863,322	8,990,520
	Cash - sterling	3,600,243	2,811,149
	Market value at 31 March	12,463,565	11,801,669

The Charity’s multi-asset fund is invested with Cazenove in its SUTL Charity NURS Fund.

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13 Debtors

13 Debtors
	2025	2024
	£	£
Prepayments	58,336	80,722
Accrued income; donations and legacies	709,482	422,758
Other debtors	35,939	7,225
	803,757	510,705

14 Creditors

14 Creditors
	2025	2024
Due within one year	£	£
Rare Dementia Support Centre	4,893,809	3,612,660
University College London, Institute of Neurology	-	96,771
Other creditors and accruals	342,848	408,572
	5,236,657	4,118,003

15 Contingent liabilities

At the year end TNBA had a contingent liability with UCL in relation to the Rare Dementia Support Centre (RDSC) project to the value of £130,000 (only payable once the building is complete and open). UCL may issue a payment request from TNBA in respect of the operational costs of the centre for each 12 month period throughout the five year operational period.

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16 Unrestricted funds: movements in year

	Balance	Income	Expenditure	Investment	Transfers	Balance
	1.4.24			gains/(losses)		31.3.25
Designated funds	£	£	£	£	£	£
National Hospital: Small Acorns Fund	10,000	-	-	-	-	10,000
New Home for Neuroscience	2,500,000	-	-	-	-	2,500,000
Total designated funds	2,510,000	-	-	-	-	2,510,000
General fund	1,557,116	1,615,282	(1,753,576)	(119,410)	(18,787)	1,280,625
	4,067,116	1,615,282	(1,753,576)	(119,410)	(18,787)	3,790,625

Unrestricted Funds have been specifically designated by The National Hospital for Neurology and Neurosurgery Development Foundation for the following purposes:

National Hospital: Small Acorns Fund

Funding for small projects: up to two rounds of applications per annum. Funds have been released as the designated reserve requirement going forward is not expected to be more than £10k.

New Home for Neuroscience: Grays Inn Road

An amount has been designated as the initial part of the commitment to raising the full £7m towards the creation of UCL’s new, state-of-the-art £281m neuroscience centre on Grays Inn Road.

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17 Restricted funds: movements in year

Restricted funds: movements in year
	Balance	Income	Expenditure	Investment	Transfers	Balance
	1.4.24			gains/(losses)		31.3.25
Neurodegeneration	£	£	£	£	£	£
Neurodegeneration	4,326	818	(545)	-	-	4,599
NDGMDT Myotonic Dystrophy Research	4,413	-	-	-	-	4,413
Centre for Neuromuscular Diseases	202,377	28,904	(138,023))	-	-	93,258
Dementia Research	517,367	71,737	(40,155)	-	-	548,949
Posterior Cortical Atrophy	535,875	213,325	(179,311)	-	-	569,890
FTD - Pick’s Disease Research Fund	531,057	161,445	(164,421)	-	-	528,081
Rare Dementia Centre	158,538	1,186,856	(1,528,975)	-	(435,000)	(618,580)
Rare Dementia Support Service	287,259	518,793	(371,057)	-	435,000	869,997
Dystonia Research	3,000	-	-	-	-	3,000
Myotonic Dystrophy Research	3,490	-	(2,026)	-	-	1,464
NDGNDM Non-Dystrophic Myotonia	88,532	35,000	(65)	-	-	123,467
Parkinson’s Disease	1,126	48	-	-	-	1,174
Neurosurgery
Neurosurgery	91,811	1,942	15,073	-	-	108,826
Acute Brain Injury	21,693	-	-	-	-	21,693
Brain Tumour Unit	196,140	260	-	-	-	196,400
Molly’s Fund	89,722	-	-	-	-	89,722
Medical Intensive Therapy Unit	9,008	-	-	-	-	9,008
Neurocritical Care	1,965	-	-	-	-	1,965
Neurosurgical Education	2,396	-	-	-	-	2,396
Sub Arachnoid Haemorrhage	18,983	-	(2,823)	-	-	16,160
Surgical Intensive Therapy Unit	250,000	-	-	-	-	250,000
Neurology
Neurology	285,803	2,907	(96,739)	-	-	191,971
MS Fund	127,232	-	(87)	-	(87,725)	39,420
MS Primary Progressive	20,125	-	-	-	-	20,125
Neuro-ophthalmology	9,980	-	-	-	-	9,980
Neuro-otology	21,251	-	-	-	-	21,251

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	Balance	Income	Expenditure	Investment	Transfers	Balance
	1.4.24			gains/(losses)		31.3.25
	£	£	£	£	£	£
Neuro-rehabilitation	20	-	-	-	-	20
Encephalitis and Long Covid Research	100,000	-	(9,000)	-	-	91,000
NHDEPI Epilepsy Fund	12,244	50	-	-	-	12,294
Neurorehab - high dose Aphasia	2,523	13,419	-	-	-	15,942
Research Fund	7,445	-	-	-	-	7,445
Stroke Project	-	10	-	-	-	10
Stroke Research	176,202	1,235	-	-	-	177,437
Education and Staf Development Education and Staf Development	675	(5)	-	-	-	670
Gorlov Prize	2,750	-	-	-	-	2,750
Queen Square
Queen Square	23,764	4,219	(2,460)	-	-	25,524
Queen Square History Book	774	70				844
Small Acorns Fund	-	5,573	(24,360)	-	18,787	-
Wards/Nursing	16,549	-	-	-	-	16,549
Grays Inn Road	424,479	68,147	(71,482)	-	-	421,144
Technology and Innovation
Technology and Innovation	5,344	(357)	-	-	-	4,987
Innovation Fund	304,213	205,299	(202,211)	-	-	307,301
Neuropsychology	56	-	-	-	-	56
Neuroimmunology	130,589	-	-	-	-	130,589
T&INER Neuroresponse	(161,740)	-	(74,015)	-	87,725	-
Neuro-immunotherapy (NEAT)	58	2,555	-	-	-	2,613
Brain Cancer Research Fund	445,316	47,848	(148,555)	-	-	344,609
TOTAL RESTRICTED FUNDS	4,974,730	2,570,098	(2,893,207)	-	18,787	4,670,408

Transfers to restricted funds occur when expenditure exceeds income, and the balance is made up from unrestricted funds.

The Emergency Fund is now part of the general fund for Queen Square.

Rare Dementia Centre

This fund is in deficit at 31 March 2025. The charity’s liability for its share of project costs has been recognised in full, however some of the income pledged to the project during the year is subject to performance related conditions. Some of these conditions have not yet been met, so the related income has not yet been recognised. It is considered virtually certain that the performance conditions for these grants will be met in the year ended 31 March 2026.

A transfer of £435,000 between the Rare Dementia Centre fund and the Rare Dementia Support Group fund. This represents the reimbursement of a payment during the year ended 31 March 2024 of £435,000, made from the Rare Dementia Support Group fund to UCL to allow UCL to complete the purchase of the property that will house the future Rare Dementia Centre.

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18 Restricted funds: movements 2023-24

	Balance	Income	Expenditure	Investment	Transfers	Balance
	1.4.23			gains/(losses)		31.3.24
	£	£	£	£	£	£
Neurodegeneration
Neurodegeneration	-	7,533	(3,207)	-	-	4,326
NDGMDT Myotonic Dystrophy Research	-	4,413	-	-	-	4,413
Centre for Neuromuscular Diseases	210,643	32,400	(40,666)	-	-	202,377
CJD - Prion Fund	-	-	-	-	-	-
Dementia Research	486,210	74,582	(43,425)	-	-	517,367
Posterior Cortical Atrophy	399,733	212,151	(76,009)	-	-	535,875
FTD - Pick’s Disease Research Fund	197,102	345,077	(11,122)	-	-	531,057
Rare Dementia Centre	1,050,184	3,083,597	(3,975,243)	-	-	158,538
Rare Dementia Support Service	844,925	278,066	(835,732)	-	-	287,259
Dystonia Research	3,000	-	-	-	-	3,000
Myotonic Dystrophy Research	3,490	-	-	-	-	3,490
NDGNDM Non-Dystrophic Myotonia	-	88,532	-	-	-	88,532
Parkinson’s Disease	823	303	-	-	-	1,126
Neurosurgery
Neurosurgery	105,322	25,648	(39,159)	-	-	91,811
Acute Brain Injury	21,693	-	-	-	-	21,693
Brain Tumour Unit	196,130	10	-	-	-	196,140
Molly’s Fund	89,722	-	-	-	-	89,722
Medical Intensive Therapy Unit	9,008	-	-	-	-	9,008
Neurocritical Care	1,965	-	-	-	-	1,965
Neurosurgical Education	2,396	-	-	-	-	2,396
Sub Arachnoid Haemorrhage	18,983	-	-	-	-	18,983
Surgical Intensive Therapy Unit	250,000	-	-	-	-	250,000
Neurology
Neurology	764	285,039	-	-	-	285,803
Mitochondrial Diseases (J Land)	-	-	-	-	-	-
MS Fund	129,816	1,000	(3,584)	-	-	127,232
MS Primary Progressive	20,125	-	-	-	-	20,125

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	Balance	Income	Expenditure	Investment	Transfers	Balance
	1.4.23			gains/(losses)		31.3.24
	£	£	£	£	£	£
Neuro-ophthalmology	9,980	-	-	-	-	9,980
Neuro-otology	21,251	-	-	-	-	21,251
Neuro-rehabilitation	-	20	-	-	-	20
Encephalitis and Long Covid Research	-	100,000	-	-	-	100,000
NHDEPI Epilepsy Fund	10,022	2,222	-	-	-	12,244
Neurorehab - high dose Aphasia	-	2,523	-	-	-	2,523
Research Fund	7,445	-	-	-	-	7,445
Stroke Project	235,193	9,190	(700,000)	-	455,617	-
Stroke Research	176,202	-	-	-	-	176,202
Education and Staf Development Education and Staf Development	-	675	-	-	-	675
Gorlov Prize	2,750	-	-	-	-	2,750
Queen Square
Queen Square	102,146	14,563	(76,200)	-	(16,745)	23,764
Queen Square History Book		774				774
Small Acorns Fund	40,774	23,713	(81,232)	-	16,745	-
Wards/Nursing	16,549	-	-	-	-	16,549
Grays Inn Road	315,040	148,989	(39,550)	-	-	424,479
Technology and Innovation
Technology and Innovation	3,804	1,540	-			5,344
Innovation Fund	242,639	97,950	(36,376)			304,213
Neuropsychology	56	-	-	-	-	56
Neuroimmunology	130,589	-	-	-	-	130,589
T&INER Neuroresponse	(87,725)	-	(74,015)	-	-	(161,740)
Neuro-immunotherapy (NEAT)	-	58	-	-	-	58
Brain Cancer Research Fund	288,656	156,660	-	-	-	445,316
TOTAL RESTRICTED FUNDS	5,557,405	4,997,231	(6,035,520)	-	455,617	4,974,730

Transfers to restricted funds occur when expenditure exceeds income, and the balance is made up from unrestricted funds.

The Emergency Fund is now part of the general fund for Queen Square.

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19 Analysis of net assets between funds

	Fixed	Net current	Total	Fixed	Net current	Total
	investments	liabilities	2025	investments	liabilities	2024
	£	£	£	£	£	£
General fund	897,572	383,054	1,280,625	498,094	1,059,022	1,557,116
Designated funds	2,510,000	-	2,510,000	2,510,000	-	2,510,000
Total unrestricted funds	3,407,572	383,054	3,790,625	3,008,094	1,059,022	4,067,116
Restricted funds	9,055,993	(4,385,586)	4,670,480	8,793,576	(3,818,846)	4,974,730
	12,463,565	(4,002,532)	8,461,033	11,801,670	(2,759,824)	9,041,846

20 Operating lease commitments

At 31 March 2025 the foundation had total commitments under non-cancellable operating leases of land and buildings as set out below:

Payable as follows:	2025 2024
Up to one year	£ £ 45,720 34,290
Two to fve years	57,150 102,870

Lease payments expensed in the year are disclosed in note 11.

21 Amended Accounts

In the original version of these accounts, the 2024 comparative values for Staff Costs and Rent and Rates were shown on the wrong lines in note 8. The financial statements were originally filed with the Charity Commission on time.

The accounts were subsequently amended and re-filed with the Charity Commission, and now include a corrected Note 8, which shows comparative values for Staff Costs and Rent and Rates on the correct rows. Because these accounts were re-filed after the deadline, they now show on the register as filed late.

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Contact us

To find out more, please visit nationalbrainappeal.org

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The National Brain Appeal 3rd Floor, Ormond House 26-27 Boswell Street London WC1N 3JZ

Registered charity no. 290173

88 The National Brain Appeal Report & Accounts 2024-5 CONTENTS • TRUSTEES’ REPORT • INDEPENDENT AUDITOR’S REPORT • FINANCIAL STATEMENTS