## **Juvenile Diabetes Research Foundation Limited**
## **Annual Report and Financial Statements**
30 June 2023
Company Limited by Guarantee Registration Number 02071638 (England and Wales) Charity Registration Number 295716 (England) and SC040123 (Scotland)
## **Contents**
|**Reports**||
|---|---|
|report|1|
|Reference and administrative details|16|
|Independent auditor
s report|18|
|**Financial Statements**||
|Consolidated statement of financial||
|activities|22|
|Balance sheets|23|
|Consolidated statement of cash flows|24|
|Principal accounting policies|25|
|Notes to the financial statements|30|
Juvenile Diabetes Research Foundation Limited **2**
Year ended 30 June 2023
The Directors present their report, together with the audited financial statements of Juvenile Diabetes Research Foundation Limited , for the year ended 30 June 2023.
This report has been prepared in accordance with Part 8 of the Charities Act 2011 and the Charities Accounts (Scotland) Regulations 2006 (as amended) and serves as the report of the Directors for the purposes of the Companies Act 2006.
The financial statements have been prepared in accordance with the accounting policies set out on pages 25 to 29 applicable laws and 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 United Kingdom and Republic of Ireland (FRS 102), effective from accounting periods commencing 1 January 2015 or later.
## **About JDRF: a global mission to cure type 1 diabetes**
JDRF UK is proud to be a part of a global network of independent and coordinated organisations working towards the same vision: a world without type 1 diabetes. There are JDRF affiliates in the USA, UK, Canada, Australia, the Netherlands and Israel.
This y administered by JDRF in the USA to invest in the most promising research worldwide.
-
changing breakthroughs to cure, treat and prevent type 1 diabetes and its complications.
## **Our mission in the UK**
type 1 diabetes and its effects on people in the UK, we:
## **Drive research to cure, treat and prevent type 1**
We fund world-class international type 1 diabetes research, with UK research teams at the forefront, and build research communities across autoimmune conditions.
## **Accelerate access to type 1 treatment technologies and medicines**
We secure greater NHS access to type 1 technology and treatments through advocacy and by involving people with type 1 in regulatory approval.
## **Support people living with type 1**
We build and develop connected communities to support people living with type 1 and are a trusted source of information.
Juvenile Diabetes Research Foundation Limited **1**
Year ended 30 June 2023
## **Chair and CEO Foreword**
As JDRF UK Chair and CEO we are proud of our impact over this last year. We have some major achievements to celebrate. Last November, the Food and Drug Administration in the USA approved the use of the drug teplizumab -modifying drug for type 1 diabetes, proven to delay the onset of the condition and the result of thirty years of is now to bring this life-changing treatment to the UK.
We are delighted that NICE have recommended that Hybrid Closed Loop(HCL) technology be offered to the majority of people living with type 1 diabetes in England and Wales over the next five years. HCL takes a reading from a continuous glucose monitor to instruct a pump to automatically dose insulin. JDRF has been focused for nearly twenty years on funding the research which has led to this new health technology treatment, now transforming the lives of people with type 1 diabetes.
In 2022, we launched the £50 million Type 1 Diabetes Grand Challenge, a landmark partnership between the Steve Morgan Foundation, JDRF UK and Diabetes UK. In May 2023, we convened an international symposium to share knowledge about the developments in new insulins research, identify key areas for development and bring the research opportunities to a new audience of scientists. In October 2023, we awarded £3 million in research grants to better understand the causes and triggers of type 1 diabetes. We believe the Grand Challenge will fundamentally change the course of type 1 diabetes research in the UK and internationally.
The demand for our information and support resources continues to increase, reflecting our key role in providing trusted information to people living with type 1 diabetes, especially in a year of rising childhood diagnoses. The design and content of our new website makes it easier for people living with type 1 diabetes to find the information and support they need to live well with type 1.
Our fundraising income has grown over the last year with an increased net income which is a significant achievement given the current economic climate. Expenditure on charitable objectives increased to £3.9 million from £3.5 million.
Our digital and data transformation programme is continuing to make substantial progress. We have launched a new CRM database which will further unlock the power of data and insight. At the same time, we have increased the level of brand awareness by increasing our profile in the national media. We have also given close attention to skills, developing our staff team to effectively harness the changing digital, research and service delivery environments.
Above all, as staff and volunteers, we are driven by our values, working with people living with type 1 diabetes, our research and operational partners and our JDRF international affiliate organisations. Our commitment to equality, diversity and inclusion shapes our collaborative culture and challenges us to constantly refine our responsibilities in creating a fairer and more equitable world.
We are so very grateful to our supporters and partners whose generosity has enabled us to progress our mission this year. In particular, we would like to thank our previous Chair of the Board, David McTurk, who spearheaded our strategic impact and worked tirelessly to help steer JDRF UK through the challenges of the Covid-19 pandemic.
Phil Aird-Mash Karen Addington JDRF UK Chair JDRF UK CEO
Juvenile Diabetes Research Foundation Limited **2**
Year ended 30 June 2023
## **OUR THREE-YEAR STRATEGY: FY21-23**
world without type 1 diabetes. This report outlines our progress against our strategic objectives.
## **1. FY23 mission goal - driving research**
- _1.1. UK delivery of research and partnerships_
- In 2022, we launched the £50 million Type 1 Diabetes Grand Challenge in partnership with the Steve Morgan Foundation and Diabetes UK.
Thanks to the generosity of Steve and Sally Morgan, the Grand Challenge will transform the 1 diabetes research capacity and its ability to accelerate breakthroughs.
In March 2023, the Grand Challenge announced the first projects to be funded, with three senior research
the replacement of insulin-producing beta cells.
JDRF UK is taking the lead on two of the three priorities of the Grand Challenge, tackling the root causes of type 1 diabetes and driving the development of transformative new forms of insulin. Through the five years of the Grand Challenge, JDRF UK will manage the £20 million committed to these priorities to drive innovation, build collaborations and catalyse change.
In October 2023, we were delighted to award £3 million in research grants to explore the causes and triggers of type 1 diabetes. In May we convened an international research symposium to identify potential research for new, more adaptive forms of insulin. The findings from this symposium will form the basis of our novel insulin research funding programme, which will commence next year.
The Type 1 Diabetes Grand Challenge is the largest ever philanthropic investment in UK type 1 diabetes research. By harnessing the power of collaboration, targeting research areas with creating change that will improve the lives of millions of people with type 1 diabetes.
Our pioneering autoimmune research partnership, Connect Immune Research (CIR), made significant progress this year, delivering a £1 million research partnership with The Lorna and Yuti Chernajovsky Biomedical Research Foundation. The strategic importance of this partnership was awarded major national profile last June when our former President, Her Majesty The Queen, visited University College London, with stakeholders, supporters and national media for a tour of the lab carrying out the CIR funded research.
Over the last year, we have increased our funding and support for research which aims to prevent and delay the onset of type 1 diabetes. Last November, in a funding partnership with Diabetes UK we launched the ELSA study, a research programme to understand how best to implement an early detection programme for type 1 diabetes in the UK. To date, the families of over 8,000 children have signed up across the UK. Those families who are identified as part of the trial are provided with information and support, with the aim of reducing the incidence of traumatic diagnosis, such as diabetic ketoacidosis (DKA), a potentially lifethreatening complication resulting from untreated high blood glucose levels.
Juvenile Diabetes Research Foundation Limited **3**
Year ended 30 June 2023
## **OUR THREE-YEAR STRATEGY: FY21-23** (continued)
**1. FY23 mission goal - driving research** (continued)
## _1.1. UK delivery of research and partnerships (continued)_
This year, we commenced funding a clinical trial that explores whether semaglutide, a drug developed to treat type 2 diabetes, could help improve blood glucose levels for young people living with type 1 diabetes. A healthy blood glucose range is important in helping prevent longterm complications of diabetes such as eye, kidney, nerve and heart damage. But most children and young people with type 1 have average blood glucose levels that, despite best efforts, are higher than the target range. Researchers at the University of Birmingham are exploring whether treatment with semaglutide alongside insulin therapy could help bring blood glucose levels down over time, making it easier for young people to maintain glucose levels within the target range. The research funding was made possible thanks to a generous gift from The Steve Morgan Foundation.
- _1.2. JDRF International delivery of research partnerships and advocacy_
- In the last financial year, JDRF UK delivered £2 million in charitable funding to support the JDRF international research programme.
celebrated a significant milestone in our collective work to prevent type 1 diabetes. In first disease modifying drug for type 1 diabetes. Teplizumab is an immunotherapy proven to delay the onset of type 1 diabetes by up to three years in people in the earliest stages of developing the condition.
has the potential to slow the progression of type 1 in the long term. For nearly three decades, the JDRF international research programme has been focused on delivering this immunotherapy treatment to people with type 1. Here in the UK, teplizumab has an Innovation Passport from the Medicines and Healthcare products Regulatory Agency (MHRA), indicating there is strong potential for the drug to be licensed for use in the UK soon.
A key goal for us is to increase funding and support for research that delivers new treatments. insulin-producing beta cells from stem cells to replace those cells which have been destroyed to expand this area of research. Over the last year, Vertex has reported on its clinical trial VX880, where a small group of people with type 1 are receiving a dose of the lab-grown beta cells. Six patients who had severe hypoglycaemia or hypoglycaemia unawareness can now make insulin again. These six people all need to take less insulin than before the study, and two people are completely insulin-independent. All the participants had better blood glucose levels (measured by HbA1c) and improved time in range. Ninety days after the start of treatment, participants no longer experienced severe hypoglycaemia. This represents significant impact and we look forward to Vertex expanding the trial and delivering further research evidence of how cell replacement therapy can help people with type 1 diabetes.
Juvenile Diabetes Research Foundation Limited **4**
Year ended 30 June 2023
## **OUR THREE-YEAR STRATEGY: FY21-23** (continued)
## **2. FY23 Mission Goal: accelerating access to treatments**
We are proud of the impact of our fifteen-year, international research investment to develop hybrid closed loop (HCL) technology and our sustained focus here in the UK to make HCL more widely available to people with type 1, free at the point of need.
This year, we focused our advocacy on securing NHS access to HCL in England and Wales, - sector drive for funding and access criteria. As a formal consultee in the approval process, JDRF UK helped to advise NICE, the National Institute for Health and Care Excellence. We were delighted that following our feedback, NICE revised their draft recommendations so that HCL can be approved for use for a wider range of people living with type 1 diabetes. In November, NICE published new recommendations, approving a five year rollout of HCL to prioritised groups which will mean that the majority of people in England and Wales will be able to receive this treatment in the next few years. Th approve HCL access to people living with type 1, subject to certain qualifying criteria. Wales will also adopt the NICE guidance and we will continue to push for adoption in Northern Ireland.
While our advocacy has been strongly anchored on increasing access to type 1 diabetes health technology, we have also set a major national and international spotlight on improving care and support for people living with type 1 diabetes disordered eating (T1DE).
Over the last two years, we have supported the UK Parliament in the delivery of a Parliamentary Inquiry into T1DE, coHon Theresa May MP, and Sir George Howarth MP. T1DE can be a severe and fatal complication of type 1 diabetes. Research shows that around a third of people living with type 1 experience a form of disordered eating because of the effects of food intake on blood glucose levels. The Inquiry is the first of its kind to comprehensively assess the causes and incidence of T1DE, the gaps in research, diagnosis and clinical practice and the impact on people living with T1DE. JDRF UK organised five oral evidence sessions in Parliament involving people with lived experience of T1DE alongside clinical, research and policy leaders. We wrote the Inquiry report with key findings and recommendations. These include establishing an international consensus on T1DE diagnosis, creating a data registry to establish UK incidence and outcomes, securing permanent funding for integrated care pilots and establishing a comprehensive prevention programme.
Over the last year we have sought to increase global access to type 1 diabetes treatments, especially in low and middle-income countries. In September 2022, together with our international JDRF affiliate organisations, we launched the Type 1 Diabetes Index. This is the first comprehensive global dataset of type 1 diabetes which aims to influence international clinical funding programmes and reduce the global risk of type 1 diabetes with implications for lower life expectancy and a greater range of health arising health complications. Our Australian JDRF colleagues developed The T1D Index which was peer reviewed and published in the Lancet Diabet
influence in this area.
Juvenile Diabetes Research Foundation Limited **5**
Year ended 30 June 2023
## **OUR THREE-YEAR STRATEGY: FY21-23** (continued)
## **3. FY23 Mission Goal: Providing information and support for people with type 1**
JDRF UK has expanded the range of information resources for people affected by type 1 diabetes with a particular focus on making them more inclusive, accessible and diverse. Thanks t grant, we have developed and launched a new JDRF UK website. Built on extensive research into what people need to live well with type 1 diabetes, the site is a trusted source of information and practical toolkits. We created pages that were easier to read and navigate as well as improving search engine optimisation (SEO). Around half of all our stories about living with type 1 diabetes on our website reflect diverse backgrounds, including cultural, socioeconomic, disability and LGBTQIA+ perspectives. The new and improved website is a key milestone on our digital transformation journey.
Throughout the year, we have increased the uptake of digital resources, including our schools e-learning module (in partnership with the NHS) which has been accessed by 24,808 users. Statutory legislation requires staff who work with children in educational settings to support children with type 1 diabetes appropriately. Our e-learning module is nationally accredited as a continual professional development course for staff in schools in England.
Our information and support resources for newly diagnosed children continue to be in high demand. NHS paediatric clinics from across the UK ordered around 4,350 KIDSACs, a collection of printed resources for children and parents. The bag includes a cuddly toy bear called Rufus, who has special felt patches on his test and injection sites, where children can practice applying digital glucose sensors and insulin injections. This year, around 3,800 children in England were diagnosed with type 1, a startling 30% increase on pre-pandemic years. The number of NHS orders demonstrates the value that healthcare professionals place y diagnosed children and their families.
Over the last year we have restructured the design and delivery of our in-person and virtual information events to foster increased community connection and peer support. This has resulted in 4,030 registrations for our information and support events, a 98% rise on the last financial year and a 29% rise from financial year 2019, when we last had a full schedule of inperson events. We have given particular focus to ensuring our events and speakers reflect the diversity of our type 1 diabetes community.
## **4. Looking forward**
As we reach the end of our three-year strategy, our focus turns to developing an ambitious strategy for the next ten years. The next decade has the potential to transform the health of people living with type 1 diabetes as our long-term research priorities deliver on a range of new treatments. A defining set of ten-year strategic goals will set the direction for our objectives and evaluation and will help outline the skills and infrastructure required to achieve our ambitions. Our priorities for the next year will be:
## _Increasing the impact of type 1 diabetes research_
We will drive forward the Type 1 Diabetes Grand Challenge with £15 million of research funding calls to develop transformative new forms of insulin. We will report on the scope of the research we have funded into understanding the causes and triggers of type 1 diabetes. We will continue to expand the range of partners in our Connect Immune Research programme to accelerate the progression and impact of autoimmune research. We continue to grow the impact of global research through our funding for the JDRF international research programme.
Juvenile Diabetes Research Foundation Limited **6**
Year ended 30 June 2023
## **OUR THREE-YEAR STRATEGY: FY21-23** (continued)
## **4. Looking forward** (continued)
- _Improving early detection for type 1 diabetes_
We will develop the case for a type 1 diabetes NHS early detection programme and work with partners to secure approval for teplizumab to be made available in the UK. This is so that the UK can identify those children at an early stage of developing type 1 diabetes, providing the information and treatments needed to both delay the onset of the condition and prevent severe complications at diagnosis.
- _Increasing access to type 1 diabetes treatments_
We will work to increase fairer access to type 1 diabetes treatments with a particular focus on hybrid closed loop across the four nations. We will publish a policy report which identifies the attitudes of people living with type 1 diabetes towards type 1 technologies and the barriers they face in accessing treatments. We will develop a type 1 diabetes disordered eating implementation plan to address the key recommendations of the T1DE Parliamentary Inquiry Report.
- _Improving information and support to help people to live well with type_
We will continue to expand the range of information and support for people with type 1 diabetes. In collaboration with DigiBete, an NHS approved app and website, we will launch a new digital programme to increase positive mental health and wellbeing for children and young people living with type 1 diabetes. The programme will be developed by diabetes specialist psychologists and co-produced by children experiencing distress as a result of their type 1 diabetes. We will continue to work to reduce health inequality and improve access to and engagement with our resources for people with type 1 diabetes experiencing social and economic disadvantage through our partnerships with NHS, charities, and the type 1 diabetes community.
## _Increasing our income, digital infrastructure, brand awareness and skills base_
- Our mission goals can only be delivered through the underpinning factors of financial stability, appropriate digital infrastructure and the recruitment, retention and development of a highly skilled workforce. Over the next year we will increase our net income, brand awareness, digital maturity and the diversity of our staff talent so that we are in an ever-stronger position to deliver on our ambition to cure, treat and prevent type 1 diabetes.
Juvenile Diabetes Research Foundation Limited **7**
Year ended 30 June 2023
## **FY23 FINANCIAL REVIEW**
## **Summary**
FY23 was a further year of transition for JDRF. It was the crossover year of final funding from the covid response Community Match Challenge (CMC) grant award (funded jointly by government department DCMS and the Steve Morgan Foundation (SMF)), and the first year of set up funding for the new Steve Morgan Foundation funded Type 1 Diabetes Grand Challenge. The Challenge will be transformational in its impact for people with type 1 over the next few years. It was also the first year since the pandemic in which fundraising events could take place for the full year, and in which fundraised income returned to prepandemic levels. With total income growing slightly on the previous year, we were able to grow expenditure on our mission objectives by £0.4m, funding research and advocacy activities for people with type 1, as well as critical support and information services. It was a year of taking stock and consolidation as we transition from post pandemic responses to a new focus on groundbreaking research into type 1 at scale over the next few years through the £50m to be awarded by the Type 1 Diabetes Grand Challenge. We were also able (partly through the CMC funding award) to invest in a number of key digital projects which will improve our impact in a range of ways for people with type 1.
## **Income generation**
Income of £6.1m was an increase on the previous year (FY22: £5.9m). Fundraised income grew 15% by £0.7m to £5.5m. The final receipts from the Steve Morgan Foundation share of the DCMS three-year Community Match Challenge (CMC) grant were £0.4m, £0.6m lower than the previous year. We also received the initial funding of £0.1m for establishment costs of the new Steve Morgan Foundation Type 1 Diabetes Grand Challenge, which will progress significantly in the coming financial year.
## **Expenditure - research and other charitable activities**
Research advocacy and funding grew by £0.2m (FY23: £2.6m versus FY22: £2.4m). UK and global research achievements during the year are described on pages five to seven. JDRF's support and awareness costs grew to £1.3m (FY22: £1.1m). Details of the activities and achievements of our work in these areas are described on pages eight to nine.
## **Expenditure costs of raising funds**
As our fundraising returned to pre-pandemic levels of activity during FY23, the cost of raising funds grew by 10 percent to £2.2m (FY22: £2m). This was two thirds the rate of increase in our fundraised income, as we continued to maximise the efficiency of our fundraising under the economically constrained circumstances of FY23.
## **JDRF Trading Limited**
These accounts consolidate the income, costs, assets and liabilities of JDRF Trading Limited with those of JDRF. This small wholly owned trading subsidiary enables JDRF to take advantage of opportunities to develop revenue from the corporate sector through sponsorship of certain events and activities for people with type 1. The company produces and are summarised in note 11 to the following accounts. Following three years of £338,000), with operating profit for the year (gift aided in full to JDRF) staying flat at £273,000 (FY22: £274,000), as costs grew by the same amount as income.
Juvenile Diabetes Research Foundation Limited **8**
Year ended 30 June 2023
## **FY23 FINANCIAL REVIEW** (continued)
## **Balance sheet for the charitable group**
Cash and short-term deposits at 30 June 2023 totalled £2.6m (FY22: £2.5m). Cash is held in instant access and short-term deposit accounts that allow the best rate of interest at the level of risk deemed acceptable.
Debtors at the year-end were £380,000 (FY22: £615,000), of which £170,000 related to accrued income (FY22: £315,000). Of the total year end debtors figure, 98 percent had been received by November, and the outstanding balance is not considered at risk. Creditors were £495,000 (FY22: £554,000).
## **Funds**
_**Restricted funds**_ grew slightly during FY23 from £771,000 to £795,000, as some restricted funds from the CMC grant were received before being spent on the designated projects. Final CMC funds of £470K will be spent in full during FY24 as digital projects conclude in the next few months.
_**Unrestricted funds**_ dropped a little from £1.85m to £1.77m. The impact of this change on
## **JDRF finances FY24 and beyond**
ransformed next year by the first research commitments under the Steve Morgan Foundation Type 1 Diabetes Grand Challenge. We also expect our fundraised income to continue to grow, funding other areas of our charitable impact for people with type 1. While total income will increase considerably, the Grand Challenge income, the majority of the growth expected, will be fully accounted for by onward research grants and related new activity costs, and will not in any other way benefit JDRF financially.
Juvenile Diabetes Research Foundation Limited **9**
Year ended 30 June 2023
## **GOVERNANCE INFORMATION**
## **Public benefit and grant making policy**
The Directors have taken account of the Charity Commission's guidance on public benefit in reviewing JDRF's aims and objectives and in planning future activities. In addition to its own project funding commitments, including those relating to the SMF Grand Challenge, JDRF aims to fund as much as possible of the globally approved research carried out in due each month, and JDRF pays those funded by restricted grants and donations and as much of the other grants as available funds and our reserves policies allow.
## **Activity in Scotland**
JDRF has staff based in different parts of Scotland, supported by an active and capable volunteer group. We are well supported by the public across Scotland, which raises funds the year. In line with its goal of funding the best research wherever it is taking place in the world, JDRF funds type 1 diabetes research in Scotland and during FY23 funded projects at the Universities of Edinburgh and Dundee.
## **JDRF fundraising statement**
Almost all our work driving the search to cure, treat and prevent type 1 diabetes, and to help and support people affected by type 1 diabetes, is made possible by fundraised income. We receive no government funding towards our research. Fundraising is vital for our work, and we are passionate about building strong, long-lasting relationships with our supporters through considerate fundraising and supporter care.
We raise funds across a full mix of income generation methods. Our fundraising and engagement department lead this work, with almost all fundraising activity managed inhouse. It is supported from time to time by a professional telephone fundraising agency. We conduct risk assessments when planning and holding in-person events.
## **Fundraising on our behalf**
When we appoint a fundraising agency, we ensure their work on our behalf is effective and aligned with our values and responsibilities. Any partners that we use are corporate members of the Chartered Institute of Fundraising, registered as a commercial supplier with the Fundraising Regulator, and comply with the codes of practice of both organisations. In line with recommendations from the Fundraising Regulator we train agency fundraisers according to our standards and expectations, and monitor calls made on our behalf on a regular basis.
## **Our Supporter Promise**
We developed our supporter promise to make sure that everyone who comes into contact with us is respected and valued, and to let them know that their data is safe and secure with us. Our supporter promise can be found at https://jdrf.org.uk/how-tohelp/give/donate/our-supporter-promise/. To date we have received three suppression requests from the Fundraising Preference Service. All three requests were resolved in line with Fundraising Preference Service rules and our own internal procedures.
Juvenile Diabetes Research Foundation Limited **10**
Year ended 30 June 2023
## **GOVERNANCE INFORMATION** (continued)
## **Further fundraising regulation**
We are registered with the Fundraising Regulator and adhere to its code of Fundraising Practice. JDRF is a member of the Chartered Institute of Fundraising. We are committed to best practice in fundraising and to complying with all statutory regulations, including the Charities Act 2016, the General Data Protection Regulation, the Privacy and Electronic Communications Regulations 2003 and the Mailing and Telephone Preference Services.
## **Complaints**
During FY23, we received three complaints about our fundraising activities, none of which were related to intrusion of privacy, unreasonable persistence or pressure to give. All complaints were resolved satisfactorily, with none being referred to external regulatory bodies.
## **Protecting Vulnerable Supporters**
Our supporters are at the heart of everything we do, and we understand that protecting those that may be in vulnerable positions is crucial for safe and effective fundraising. Our external fundraisers receive training in recognising vulnerable people. We take steps to ensu privacy, including not making telemarketing calls during unsociable hours and limiting the number of times we call unanswered numbers. We limit the number of times we make financial requests for support in a single call to avoid applying undue pressure. We monitor and limit the number of mail, email and telephone communications we send to supporters asking for their financial support, ensuring requests are not unreasonably persistent.
## **Financial policies and activities**
## _**Reserves policy**_
The Board has adopted a reserves policy which is designed to assist with managing reasonable levels of risk, making funds available for future activities and providing for cash flow movements, while maximising the flow of funds to research.
The Board reviews its reserves policy with reference to Charity Commission guidelines every two years. The current policy assesses a range of historical costs and movements on income, and aggregates these to establish high and low points for cash balances and free reserve levels. On this basis the Board expects JDRF under normal circumstances to hold free reserves between £1m and £1.5m. JDRF received significant levels of support during FY21, which was intended to provide support through to 2023. As a result our free reserves (unrestricted funds minus fixed assets) have been higher since then, and stood at £1.66m at the year end.
## _**Risk management and mitigation**_
The Board monitors the principal business and control risks to JDRF, within a control framework. The risk assessment register is reviewed at least twice a year by senior management and updated accordingly. Strategies and timelines have been agreed for the management and limitation of identified risks, the most important of which have been reviewed by the Audit and Risk Committee and the Board.
Juvenile Diabetes Research Foundation Limited **11**
Year ended 30 June 2023
## _**Risk management and mitigation** (continued)_
At present JDRF has no red risks (risk score 15+) and two amber risks (risk score 9-12) out of a possible total of 25. The SMF funded Grand Challenge programme brings complexity and potential risk in several areas, though with significant mitigations in place. The other risk relates to the potential impact on a charity the size of JDRF should several key staff leave over a short period of time. JDRF has policies and good practice aimed at staff retention and talent management, and reviews succession planning for critical roles on a regular basis.
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## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
JDRF is a charitable company limited by guarantee incorporated on 6 November 1986 and registered as a charity on 14 May 1987. The objects and powers of the company are set out in, and governed by, its articles of association. Revised and updated articles of association were adopted in 2017.
JDRF is governed by a Board of Directors, the members of which are also the trustees of the charity for the purposes of charity law, which meets at least five times a year. The Board sets the strategic goals of JDRF, reviews the pursuit of charitable objectives, establishes policy, and monitors financial status and compliance with legal requirements. The Chief Executive assists the Board in these activities and together with the staff is responsible for the implementation of th of JDRF.
The Board of Directors has established two Sub-Committees to assist in the efficient execution of its responsibilities and duties: the Succession and Development Committee and the Audit and Risk Committee. In addition, the Board has informal progress meetings between the quarterly Board business meetings at which there is the opportunity to hear updates on current issues or have fuller discussions of wider matters of interest.
The Succession and Development Committee (made up of at least three current or former Directors and an independent recruitment expert) meets as needed and is responsible for identifying and recruiting new Directors and ensuring retention and development of senior level volunteers. During FY22 and into early FY23 the Committee carried out an open recruitment process for a new Chair. After a thorough process, and interviewing several candidates, the then Vice Chair, Phil Aird-Mash, was appointed Chair by the Board, and started in the role in January 2023. Wilson Leech was appointed Vice Chair in March 2023.
The Audit and Risk Committee is responsible for JDRF's compliance with statutory reporting, managing the relationship with the external auditor, reviewing the draft accounts and accompanying report, JDRF's risk management and a range of financial controls and processes. This Committee is made up of the Treasurer and at least one other Director, is attended by the Director of Finance and Resources and Head of Finance and meets three times a year.
## **Appointment of Directors**
All potential Directors of JDRF go through a nomination process before they join the Board. This is within the remit of the Succession and Development Committee which has the goal of identifying and meeting individuals who have the necessary skills, experience and Directors are appointed by the Board and serve an initial term of three years but may be reappointed for a further term of three years.
## **Induction of new Directors**
Prior to appointment, potential Directors meet our Chief Executive, Chairman, and representatives from the Succession and Development Committee to discuss the work of a Board Director in depth, and the expectations and responsibilities of the role. They are given an overview of organisational history, current activities and strategy. Following their appointment to the Board, new Directors have induction meetings with the senior management team and are given relevant key documentation.
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## **STRUCTURE, GOVERNANCE AND MANAGEMENT** (continued)
## **Remuneration of key management personnel**
The executive team consists of the Chief Executive and five Director of Department roles: Research Partnerships, Policy and Communications, Fundraising and Engagement, Finance and Resources and People and Operations, as detailed in the reference section on page 19.
JDRF is committed to being open about the work that we do to achieve our mission. skilled staff we need to create a world without type 1 diabetes. All JDRF staff, including the senior management team, are normally eligible for an annual cost of living pay award, and a progression pay scheme that rewards staff who make a significant contribution to JDRF. The amount paid to senior staff reflects the market for jobs in comparable organisations, the performance of the organisation and the skills and contribution of the against the market by a specialist pay and reward consultancy, and agreed by the three board officers.
## **Volunteers**
Volunteers play a vital role at JDRF. All Board Directors and advisors from the scientific community give their time free of charge. The Insight and Experience Panel of 180 people with lived experience of type 1 supports aspects of the work of JDRF. The panel has assisted with providing case studies for NICE consultation responses and has contributed can contribute insight to international initiatives like building consensus on Patient Reported Outcomes among the international research community. In FY23 over 1,000 individuals volunteered to support JDRF in a variety of ways, and we are extremely grateful to all these dedicated supporters.
## **STATEMENT**
The Directors are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and the group and of the incoming resources and application of resources, including the income and expenditure, of the group for that period.
In preparing these financial statements, the Directors are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the United Kingdom and Republic of Ireland (FRS 102);
- make judgments and estimates that are reasonable and prudent;
Juvenile Diabetes Research Foundation Limited **14**
Year ended 30 June 2023
## **STATEMENT**
(continued)
- state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in operation.
The Directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Each of the Directors confirms that:
- so far as auditor is unaware; and
the Director has taken all the steps that they ought to have taken as a Director in order to make themself aware of any relevant audit information auditor is aware of that information.
This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006.
Members of the company guarantee to contribute an amount not exceeding £10 to the assets of the company in the event of winding up. The total number of guarantees at 30 June 2023 was 9. The Directors have no beneficial interest in the company but as members are entitled to voting rights.
## **AUDITORS**
Buzzacott LLP was reappointed auditor by the Board for the year ended 30 June 2024 and has expressed its willingness to act in that capacity.
Approved by the Directors on 11 December and signed on their behalf by
Phil Aird-Mash
## **Chair**
Juvenile Diabetes Research Foundation Limited **15**
## **Reference and administrative details**
|**President**
**Directors**
**Company Secretary**
**Executive management team**
Chief Executive
Director of Fundraising & Engagement
Director of Research Partnerships
Director of Policy and Communications
Director of Finance and Resources
Director of People and Operations
**Registered office**
**Telephone**
**Website**|Her Majesty The Queen
The Directors, who are also trustees under
charity law, who served during the year up to the
date of this report were as follows:
Phil Aird-Mash (Vice Chair to December 2022,
Chair from January 2023)
Barrie Brien
Jared Chebib (Treasurer)
Christina Croft
Sarah Johnson (appointed March 2023)
Wilson Leech (Vice Chair from March 2023)
Per Lundin
James Lurie
David McTurk (Chair to December 2022, and
retired December 2022)
Nadia Swann (appointed March 2023)
Jonathan Taylor
Karen Addington
Mike Straney (to September 2022)
Terence Lovell (from November 2022)
Rachel Connor
Hilary Nathan
Jonathan Taylor
Hayley Anderson
17/18 Angel Gate
City Road
London
EC1V 2PT
**T**: 020 7713 2030
**F**: 020 7713 2031
**E**: info@jdrf.org.uk
www.jdrf.org.uk|
|---|---|
Juvenile Diabetes Research Foundation Limited **16**
## **Reference and administrative details**
|**Social media**
**Company registration number**
**Charity registration number**
**National and regional offices**
**Auditor**
**Bankers**|@JDRFUK/https://twitter.com/jdrfuk
@JDRFUK/https://www.facebook.com/JDRFU
K/JDRFUK
JDRFUK/https://www.linkedin.com/company/jdr|
|---|---|
||f-UK
JDRFUK/https://www.instagram.com/jdrfuk/
02071638 (England and Wales)
295716 (England and Wales)
SC040123 (Scotland)
JDRF Scotland: Aberdeen Office
**T:**Aberdeen: 01224 248 677
**T:**Central Scotland: 07790 572188
**E**: scotland@jdrf.org.uk
Buzzacott LLP
130 Wood Street
London
EC2V 6DL
Barclays Bank plc
Marble Arch Corporate Banking Group
PO Box 32016
London
NW1 2ZH|
Juvenile Diabetes Research Foundation Limited **17**
**report** 30 June 2023
## **Juvenile Diabetes Research**
## **Foundation Limited**
## **Opinion**
We have audited the financial statements of Juvenile Diabetes Research Foundation Limited for the year ended 30 June 2023 which comprise the consolidated statement of financial activities, group and charitable parent company balance sheets and consolidated statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Rep Reporting Standard applicable in the UK and Republic of (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- affairs as at 30 June 2023 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, the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).
## **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 for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to 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 of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Juvenile Diabetes Research Foundation Limited **18**
**report** 30 June 2023
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the d report other than the financial statements and our nts 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.
In connection with our audit of the financial statements, 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 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 or a material misstatement of the other information. 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.
## **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 directors statements are prepared is consistent with the financial statements; and
- the directors eport 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 group and the charitable parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:
- proper and adequate accounting records have not been kept by the charitable parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the charitable parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors 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 preparing the directors report and from the requirement to prepare a strategic report.
Juvenile Diabetes Research Foundation Limited **19**
**report** 30 June 2023
## **Responsibilities of trustees**
As explained more fully in the directors responsibilities statement, the trustees 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 state applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the charitable parent company or to cease operations, or have no realistic alternative but to do so.
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 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 the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
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.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; and
- we obtained an understanding of the legal and regulatory frameworks that are applicable to the group and parent charity and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework (Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended)), and those that relate to fundraising including The Code of Fundraising Practice.
We assessed the susceptibility of the group including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
Juvenile Diabetes Research Foundation Limited **20**
**report** 30 June 2023
**of the financial statements** (continued) To address the risk of fraud through management bias and override of controls, we:
performed analytical procedures to identify any unusual or unexpected relationships;
- performed substantive testing on expenditure including the authorisation thereof;
- tested journal entries to identify unusual transactions; and
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
reading the minutes of meetings of those charged with governance; and
enquiring of management as to actual and potential litigation and claims.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located
## **Use of our report**
accordance in accordance with Section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable 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 anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Edward Finch (Senior Statutory Auditor) For and on behalf of Buzzacott LLP, Statutory Auditor 130 Wood Street London EC2V 6DL 12 January 2024
Buzzacott LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
Juvenile Diabetes Research Foundation Limited **21**
## **Consolidated statement of financial activities** Year to 30 June 2023
|**Income and expenditure**
Notes|**Un-**
**restricted**
**funds**
**£**|**Restricted**
**funds**
**£**|**Total**
**funds**
**2023**
**£**|Un-
restricted
funds
£|Restricted
funds
£|Total
funds
2022
£|
|---|---|---|---|---|---|---|
|**Income**
Donations and legacies
1
Other trading activities
2
Interest receivable
Charitable activities
3
. Research grants
. Support and awareness
**Total income**
**Expenditure**
Cost of raising funds
Charitable activities
. Research funding
. Research advocacy
Subtotal research expenditure
. Support and awareness
Subtotal charitable activities
**Total expenditure**
4
**Net (expenditure) income and**
**net movement in funds**
6
**Reconciliation of funds**
Total funds brought forward
at 1 July 2022
Total funds carried forward
at 30 June 2023
17|**2,378,516**
**2,046,499**
**34,507**|**849,914**
**346,528**
**459,294**|**3,228,430**
**2,046,499**
**34,507**
**346,528**
**459,294**|2,442,738
1,571,709
5,397|826,788
91,387
970,500|3,269,526
1,571,709
5,397
91,387
970,500|
||**4,459,522**|**1,655,736**|**6,115,258**|4,019,844|1,888,675|5,908,519|
||**2,109,379**
**1,107,267**
**356,150**|**124,864**
**1,002,575**
**155,448**|**2,234,243**
**2,109,842**
**511,598**|1,933,259
852,395
311,500|83,302
1,090,343
168,170|2,016,561
1,942,738
479,670|
||**1,463,417**|**1,158,023**|**2,621,440**|1,163,895|1,258,513|2,422,408|
||**958,586**|**349,044**|**1,307,630**|884,295|191,073|1,075,368|
||**2,422,003**|**1,507,067**|**3,929,070**|2,048,190|1,449,586|3,497,776|
||||||||
||**4,531,382**|**1,631,931**|**6,163,313**|3,981,449|1,532,788|5,514,337|
||**(71,860)**
**1,846,802**|**23,805**
**771,360**|**(48,055)**
**2,618,162**|29,579
1,817,223|364,603
406,757|394,182
2,223,980|
||**1,774,942**|**795,165**|**2,570,107**|1,846,802|771,360|2,618,162|
All of the above results are derived from continuing activities.
All recognised gains and losses are included in the above statement of financial activities.
Juvenile Diabetes Research Foundation Limited **22**
**Balance sheets** 30 June 2023
|Notes|Group|Group|Charity|Charity|
|---|---|---|---|---|
||**2023**
**£**|2022
£|**2023**
**£**|2022
£|
|**Fixed assets**
Tangible assets
9
Intangible assets
10
Investments
11
**Current assets**
Debtors
14
Cash at bank and in hand
**Liabilities**
Creditors: amounts falling due
within one year
15
Net current assets
**Total net assets**
16
The funds of the charity:
**Funds and reserves**
17
Restricted funds
Unrestricted funds
. General funds|**46,076**
**65,500**|81,066|**46,076**
**65,500**
**10,001**|81,066
10,001|
||**111,576**|81,066|**121,577**|91,067|
||**381,787**
**2,572,091**|614,644
2,476,439|**426,222**
**2,360,751**|746,348
2,153,058|
||**2,953,878**|3,091,083|**2,786,973**|2,899,406|
||**495,347**|553,987|**338,443**|372,311|
||**2,458,531**|2,537,096|**2,448,530**|2,527,095|
||||||
||**2,570,107**|2,618,162|**2,570,107**|2,618,162|
||**795,165**
**1,774,942**|771,360
1,846,802|**795,165**
**1,774,942**|771,360
1,846,802|
||**2,570,107**|2,618,162|**2,570,107**|2,618,162|
Approved by the directors on 11 December 2023 and signed on their behalf by:
Phil Aird-Mash Chair
Jared Chebib Treasurer
Company Registration Number: 02071638 (England and Wales)
Juvenile Diabetes Research Foundation Limited **23**
## **Consolidated statement of cash flows** 30 June 2023
**----- Start of picture text -----**
2023 2022
Notes £ £
Cash flows from operating activities:
Net cash provided by operating activities A 130,721 347,942
Cash flows from investing activities:
Interest received 34,507 5,397
Purchase of tangible fixed assets (69,576) (17,699)
Net cash used in investing activities (35,069) (12,302)
Change in cash and cash equivalents in the year 95,652 335,640
Cash and cash equivalents at 1 July 2022 B 2,476,439 2,140,799
Cash and cash equivalents at 30 June 2023 B 2,572,091 2,476,439
Notes to the statement of cash flows for the year to 30 June 2023
A Reconciliation of net movement in funds to net cash provided by operating activities
2023 2022
£ £
Net movement in funds (as per the statement of financial activities) (48,055) 394,182
Adjustments for:
Depreciation charge 39,066 33,711
Interest receivable (34,507) (5,398)
Decrease (increase) in debtors 232,856 (190,997)
(Decrease) increase in creditors (58,639) 116,444
Net cash provided by operating activities 130,721 347,942
B Analysis of changes in net debt
At 1 Movement At 30 June
July 2022 in year 2023
£ £ £
Cash at bank and in hand 2,476,439 95,652 2,572,091
Total cash and cash equivalents 2,476,439 95,652 2,572,091
**----- End of picture text -----**
Juvenile Diabetes Research Foundation Limited **24**
**Principal accounting policies** 30 June 2023
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.
## **Basis of preparation**
These financial statements have been prepared for the year to 30 June 2023.
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these financial statements.
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 United Kingdom and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The charity constitutes a public benefit entity as defined by FRS 102.
The financial statements are presented in sterling and are rounded to the nearest pound.
## **Basis of Consolidation**
The statement of financial activities and balance sheet consolidate the assets, liabilities, income and expenditure of the charity and its wholly owned subsidiary undertaking, JDRF Trading Limited. The results of the subsidiary undertaking are consolidated on a line-by-line basis.
No separate statement of financial activities or statement of cashflows has been prepared for the charity above as permitted by Section 408 of the Companies Act 2006.
## **Critical accounting estimates and areas of judgement**
Preparation of the financial statements requires the trustees and management to make significant judgements and estimates.
The items in the financial statements where these judgements and estimates have been made include:
assessing the probability of receipt of legacy income;
- allocation of support and governance costs;
- estimating the useful economic life of tangible fixed assets for the purposes of determining a depreciation rate; and
- estimating future income and expenditure flows for the purpose of assessing going concern (see below).
## **Assessment of going concern**
The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The trustees have made this assessment with respect to a period of one year from the date of approval of these financial statements.
Juvenile Diabetes Research Foundation Limited **25**
**Principal accounting policies** 30 June 2023
## **Assessment of going concern** (continued)
The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.
## **Income recognition**
Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably and it is probable that the income will be received.
Income received by way of subscriptions, donations and gifts to the charity is included in full in the statement of financial activities when receivable. Donations are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.
Donated services and facilities provided to the charity are recognised in the period when it is probable that the economic benefits will flow to the charity, provided they can be measured reliably. This is normally when the service is provided. An equivalent amount is included as expenditure.
Donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain facilities or services of equivalent economic benefits on the open market.
Legacies are included in the statement of financial activities when the charity is entitled to the legacy, the executors have established that there are sufficient surplus assets in the estate to pay the legacy, and any conditions attached to the legacy are within the control of the charity.
Entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, but the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title of the asset having being transferred to the charity.
Juvenile Diabetes Research Foundation Limited **26**
**Principal accounting policies** 30 June 2023
## **Income recognition** (continued)
Revenue grants are credited to the statement of financial activities when received or receivable whichever is earlier.
Where unconditional entitlement to grants receivable is dependent upon fulfilment of conditions within the charity's control, the incoming resources are recognised when there is sufficient evidence that conditions will be met. Where there is uncertainty as to whether the charity can meet such conditions the incoming resource is deferred.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
## **Resources expended**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis.
Expenditure is allocated to a particular activity where the cost relates directly to that activity. Expenditure includes attributable VAT which cannot be recovered. The cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central functions, is apportioned on the basis of an estimate, based on staff time, of the amount attributable to each activity.
Premises and office costs are allocated based on the amount of floor space attributable to each activity, except for regional offices which are split 75% cost of generating funds, 5% research advocacy and 20% support and awareness.
Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs
The costs of raising funds relate to the costs incurred by the group in raising funds for the charitable work.
Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable activities. Where such information about the aims, objectives and projects of the charity is also provided to potential donors, activity costs are apportioned between fundraising and charitable activities.
Grants payable are charged to the statement of financial activities in the year in which agreement to pay has been reached with . Provision is made for grants agreed and approved but unpaid at the period end.
## **Tangible fixed assets**
Items of equipment are capitalised where the purchase price exceeds £2,000 including irrecoverable VAT.
Juvenile Diabetes Research Foundation Limited **27**
## **Principal accounting policies** 30 June 2023
## **Tangible fixed assets** (continued)
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
Leasehold improvements Over the lifetime of the lease Computer equipment 5 years Fixtures and fittings 5 years
Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value or value in use.
## **Intangible fixed assets**
Intangible assets costing £2,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Intangible assets are initially recognised at cost and are subsequently measured at cost net of amortisation and any provision for impairment.
## **Investments**
Investments held as fixed assets company and are stated at cost.
## **Debtors**
Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid.
## **Cash at bank and in hand**
Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition.
## **Creditors and provisions**
Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt.
## **Leases**
Rentals payable under operating leases, where substantially all the risks and rewards of ownership remain with the lessor, are charged to the statement of financial activities over the life of the lease using the straight line basis.
Juvenile Diabetes Research Foundation Limited **28**
**Principal accounting policies** 30 June 2023
## **Pension scheme**
JDRF contributes to staff group personal pension plans. The pension charge represents payments to the scheme which are charged to the statement of financial activities in the period to which they relate. Employer contributions are 4% after 3 months, 5% after 2 years additionally sacrifice up to 10% of gross salary to their pension. The charitable company has no liability under the scheme other than for the payment of these contributions.
## **Fund accounting**
Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria is identified to the fund.
Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.
Designated funds are unrestricted funds earmarked by the directors for particular purposes.
## **Foreign exchange**
Balance sheet assets/liabilities in foreign currencies are translated at the prevailing exchange rate at the balance sheet date. Transactions are translated at the transaction date exchange rate. Any exchange rate differences arising are credited or charged to the statement of financial activities.
## **Financial instruments**
The charity only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the charity and their measurement basis are as follows:
_Financial assets_ Other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.
_Cash at bank_ Classified as a basic financial instrument and is measured at face value.
_Financial liabilities_ accruals and other creditors are financial instruments, and are measured at amortised cost.
Juvenile Diabetes Research Foundation Limited **29**
**Notes to the financial statements** 30 June 2023
## **1 Income from donations and legacies**
||**Unrestricted**
**funds**
**£**|**Restricted**
**funds**
**£**|**Total**
**funds**
**2023**
**£**|Unrestricted
funds
£|Restricted
funds
£|Total
funds
2022
£|
|---|---|---|---|---|---|---|
|Donations
Legacies
Third party fundraising
**Total**|**1,757,943**
**258,743**
**361,830**
**2,378,516**|**849,914**
**849,914**|**2,607,857**
**258,743**
**361,830**
**3,228,430**|1,707,365
130,392
604,981
2,442,738|826,788
826,788|2,534,153
130,392
604,981
3,269,526|
## **2 Income from trading activities**
||**Unrestricted**
**funds**
**£**|**Restricted**
**funds**
**£**|**Total**
**funds**
**2023**
**£**|Unrestricted
funds
£|Restricted
funds
£|Total
funds
2022
£|
|---|---|---|---|---|---|---|
|One Walk
Running and challenge events
Corporate sponsorship,
advertising and merchandise
Events and other fundraising
activities
Rental/other income
**Total**|**189,387**
**1,156,869**
**378,034**
**247,278**
**74,931**
**2,046,499**||**189,387**
**1,156,869**
**378,034**
**247,278**
**74,931**
**2,046,499**|152,691
732,297
362,879
245,711
78,131
1,571,709||152,691
732,297
362,879
245,711
78,131
1,571,709|
## **3 Income from charitable activities**
**----- Start of picture text -----**
2023 2022
Total Total
Restricted Restricted
£ £
Research Grants
The Steve Morgan Foundation - Barrett Trial 144,264
The Steve Morgan Foundation - Grand Challenge establishment costs 119,925
The Spectacle Makers Grant 10,000
The Cadogan Charity 50,000
The Elizabeth & Prince Zaiger Trust 10,000
The R S Macdonald Charitable Trust 30,000
Nimar Charitable Trust 10,000 10,000
PF Charitable Trust 10,000
Shepherd and Wedde Barr Charitable Trust 15,000
Robert Luff Foundation Limited 15,000
Donations £5,000 or less 2,339 11,387
346,528 91,387
Support and awareness
Digital, Culture, Media and Sport (Community Match Challenge) 375,000 937,500
Nelsons Charitable Trust 10,000
Coldstones Charitable Trust 15,000
Michael Lewis Foundation 6,754
The Hugh Fraser Foundation 7,500
Peter Harrison Foundation 20,000
The Big Lottery Fund 10,000
Michael Pardoe 36,540
Donations £5,000 or less 8,500 3,000
459,294 970,500
Total 805,822 1,061,887
**----- End of picture text -----**
Juvenile Diabetes Research Foundation Limited **30**
## **Notes to the financial statements** 30 June 2023
## **4 Total expenditure**
**----- Start of picture text -----**
Total Total
Unrestricted Restricted funds Unrestricted Restricted funds
funds funds 2023 funds funds 2023
£ £ £ £ £ £
Costs of raising funds 2,109,379 124,864 2,234,243 1,933,259 83,202 2,016,561
Charitable activities
. Research funding 1,107,267 1,002,575 2,109,842 852,395 1,090,343 1,942,738
. Research advocacy 356,150 155,448 511,598 311,500 168,170 479,670
. Support and awareness 958,586 349,044 1,307,630 884,295 191,073 1,075,368
Total 4,531,382 1,631,931 6,163,313 3,981,449 1,532,888 5,511,337
Cost of Support
raising Research Research and Governance Support 2023
funds funding advocacy awareness costs costs Total
Note £ £ £ £ £ £ £
Staff costs 7 1,006,524 283,713 300,366 526,578 103,294 379,583 2,600,058
Other staffing costs 95,396 9,850 15,598 65,152 1,065 85,468 272,529
Office costs 101,302 14,749 25,589 22,263 2,252 45,932 212,087
Rent and premises 105,885 13,401 24,541 31,169 2,871 41,153 219,020
Depreciation 39,066 39,066
Information technology costs 68,101 9,440 16,857 20,228 2,023 28,993 145,642
Direct fundraising costs
. Donations and appeals 227,350 227,350
. One Walk 546 546
. Running and challenge
events 178,116 178,116
. Trading activities 7,374 7,374
. Events and other
fundraising activities 83,646 83,646
Subtotal direct fundraising
costs 497,032 497,032
Audit fees 17,949 17,949
Governance 7,604 7,604
Advocacy 8,194 21,215 29,409
Support and awareness 453 , 898 453,898
Research grants
unrestricted 5 701,640 701,640
Research grants restricted 5 967,380 967,380
1,874,240 2,008,367 404,166 1,119,288 137,058 620,195 6,163,313
Support costs 294,845 83,109 87,988 154,253 (620,195)
Governance costs 65,158 18,366 19,444 34,089 (137,058)
Total expenditure 2023 2,234,243 2,109,842 511,598 1,307,630 6,163,313
**----- End of picture text -----**
Juvenile Diabetes Research Foundation Limited **31**
**Notes to the financial statements** 30 June 2023
## **4 Total expenditure** (continued)
|_Note_|_Cost of_
_raising_
_funds_
_£_|_Research_
_funding_
_£_|_Research_
_advocacy_
_£_|_Support_
_and_
_awareness_
_£_|_Governance_
_costs_
_£_|_Support_
_costs_
_£_|_2022_
_Total_
_£_|
|---|---|---|---|---|---|---|---|
|_Staff costs_
_7_
_Other staffing costs_
_Office costs_
_Rent and premises_
_Depreciation_
_Information technology costs_
_Direct fundraising costs_
_. Donations and appeals_
_. One Walk_
_. Running and challenge_
_events_
_. Trading activities_
_. Events and other_
_fundraising activities_
_Subtotal direct fundraising_
_costs_
_Audit fees_
_Governance_
_Advocacy_
_Support and awareness_
_Research grants_
_unrestricted_
_5_
_Research grants_
_restricted_
_5_
_Support costs_
_Governance costs_
_Total expenditure 2022_|_939,628_
_(3,278)_
_101,946_
_123,581_
_86,641_
_225,287_
_2,591_
_131,945_
_5,758_
_45,895_|_234,374_
_(818)_
_13,832_
_19,192_
_16,299_|_275,755_
_29,525_
_15,508_
_16,589_
_12,867_|_478,361_
_(1,669)_
_32,698_
_41,103_
_30,024_|_101,884_
_(355)_
_2,247_
_3,030_
_2,573_|_339,014_
_64,899_
_50,384_
_43,434_
_33,711_
_36,887_|_2,369,017_
_88,304_
_217,066_
_246,929_
_33,711_
_185,292_
_225,287_
_2,591_
_131,945_
_5,758_
_45,895_|
||_411,476_||||||_411,476_|
|||_5,354_
_510,859_
_1,060,748_|_42,845_|_322,490_|_13,067_
_7,178_||_13,067_
_7,178_
_48,199_
_322,490_
_510,859_
_1,060,748_|
||_1,659,993_
_290,388_
_66,180_|_1,859,842_
_67,510_
_15,386_|_393,090_
_70,201_
_16,069_|_903,007_
_139,753_
_31,991_|_129,626_
_(129,626)_|_568,779_
_(566,279)_|_5,511,837_|
||_2,016,561_|_1,942,738_|_479,670_|_1,075,368_|||_5,514,337_|
Juvenile Diabetes Research Foundation Limited **32**
## **Notes to the financial statements** 30 June 2023
## **5 Research grants**
**----- Start of picture text -----**
2023 2022
Un Un
Principal Restricted restricted Total Restricted restricted Total
investigator £ £ £ £ £ £
Cardiff University Colin Dayan
Microneedle arrays to deliver antigen specific immunotherapy 174,463 174,463 182,561 201,733 384,294
University of Exeter Joanne Boldison
From pancreas to periphery: A study of B-cells 10,000 10,000
University of Exeter Paul W Potter
Modulation of brain fatty acid oxidation to improve hypoglycemia
counterregulation 35,857 11,250 47,107
University of Exeter Chloe Rackham
Exploring an islet-protective role for native pancreatic mesenchymal
stromal cells in health and in type 1 diabetes 50,033 50,033
University of Exeter Richard Oram
Improved, cost effective prediction of type 1 diabetes in early life
using combined prediction models 169,931 169,931
King's College London Gavin Bewick
Exploring the translational potential of the NPY Y4 receptor for treating
Type 1 Diabetes 212,172 161,139 373,311 172,315 91,308 263,624
University of Oxford Paul Johnson
Human Islets For Basic Research- Oxford JDRF Human Islet
Resource Centre 25,016 26,103 51,119 17,664 801 18,465
University of Dundee Rory McCrimmon
Restoring hypoglycemia awareness through dishabituation 4,819 112 4,931
King's College London Stephanie Amiel
A Hypoglycemia Awareness Restoration Program for people with
type 1 diabetes and problematic hypoglycemia persisting 50,000 50,000 5,917 5,917
King's College London Timothy Tree
Harmonizing biomarkers in clinical trials of ustekinumab 20,122 57,848 77,970 95,656 95,656
University of Bristol Anna Long
Adult onset Type 1 Diabetes: Slow Progressors or Late Starters? 18,267 18,267
Uinversity of Edinburgh (Connect Immune Research award) Yannick Crow
Precision type I interferon biomarkers for the stratification of
autoimmune disease 16,133 16,133
University of Exeter Paul Weightman Potter
Modulation of brain fatty acid oxidation to improve hypoglycemia
counterregulation 43,323 43,323
University of Cambridge Eoin McKinney
TrialNet Transcriptomic Pipeline 41,667 41,667
University of Exeter Nicholas Thomas
Determining the impact of C-peptide testing in possible type 1
diabetes 16,123 16,123
University of Bristol Kathleen Gillespie
COVID-19 antibody screening in families with type 1 diabetes:
infection rate and effects on diabetes 37,789 37,789
Julie Cawley / Rocio Sancho
PEG-Based Hydrogels for iPSCs-Derived Regenerative Therapies
for Diabetes 13,706 13,706 27,412 54,825 54,825
University of Birmingham Fiona M Docherty
Generation of high insulin producing beta cells from human
pluripotent stem cells 10,000 10,000
University of Birmingham
Testing the feasibility and acceptability of EarLy Surveillance for
Autoimmune diabetes: The ELSA Study Parth Narendran 72,500 48,186 120,686 29,167 90,952 120,119
Development of 4 antibody multiplex assays for type 1 diabetes
screening Alex Ritcher 69,550 69,550
Semaglutide as an add-on treatment to optimise glycaemic control in
children and young people with type 1 diabetes Timothy Barrett 143,509 143,509
P Choudhary
Using neuroimaging to understand the role of cognitions in restoring
hypoglycemia awareness in adults with type 1 diabetes and impaired
awareness of hypoglycemia 16,452 16,452 6,481 6,481
PI / UNIBRIST - 1 RPG 2020 0001 50% expenditure Jun 21(DUK) 17,573 15,000 32,573
JDRF T1D Fund 301,532 301,532 290,464 8,816 299,281
MQ Foundation - Emory University Lea Milligan / Leslie Johnson
Adapting and testing an integrated care model for treatment of Type
1 diabetes and mental health co- morbidities 12,857 12,857
PI / VERSUSAR - INV00897 February 2023
Connect Immune Research and Loran and Yuti Chernajovsky
Biomedical Research Foundation Awards 2022 37,695 37,695
PI / MEDICALR - Daniel Doherty JDRF UK
Understanding the hepatic microenvironment to improve function and
survival of transplanted pancreatic islets in diabetes 37,534 37,534
967,380 701,640 1,669,020 1,060,748 510,860 1,571,608
**----- End of picture text -----**
Juvenile Diabetes Research Foundation Limited **33**
## **Notes to the financial statements** 30 June 2023
## **6 Net income (expenditure) before transfers**
This is stated after charging:
||**2023**
**£**|2022
£|
|---|---|---|
|Depreciation
. Audit for current year
. Under-accrual for previous year
Operating lease rentals
. Property|**34,990**
**541**
**12,000**
**5,949**
**148,692**|33,711
541
13,067
152,511|
## **7 Staff costs and numbers and remuneration of key management personnel** Staff costs were as follows:
||**2023**
**£**|2022
£|
|---|---|---|
|Salaries and wages
Social security costs
Pension contributions
Redundancy|**2,273,341**
**228,864**
**97,853**
**2,600,058**|2,013,902
205,385
94,798
54,933
2,369,018|
The average weekly number of employees (on an average head count and a full time
||**Head count**
**2023**|Head count
2022|**FTE**
**2023**|FTE
2022|
|---|---|---|---|---|
|Raising funds
Charitable activities
Central support|**21.3**
**25.6**
**8.0**
**54.9**|21.98
23.12
10.31
55.42|**20.1**
**24.3**
**7.6**
**52.0**|20.62
21.69
9.68
51.99|
The key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis comprise the trustees, and the executive management team. The total remuneration (including taxable benefits and emp pension contributions) of the key management personnel for the year was £467,331 (2022 - £456,773).
During the year JDRF made non contractual severance payments of £NIL (2022 - £54,933) These payments were approved by the trustees for payment.
||**2023**
**£**|2022
£|
|---|---|---|
|Employee between £90k & £100k
Employee between £80k & £90k
Employee between £70k & £80k
Employee between £60k & £70k|**1**
**1**
**2**|1
1|
The pension contributions paid during the year for these employees totalled £25,856 (2022 - £21,087).
Juvenile Diabetes Research Foundation Limited **34**
**Notes to the financial statements** 30 June 2023
## **8 Taxation**
The charity is exempt from corporation tax as all its income is charitable and is applied for available profits to the charity.
## **9 Tangible fixed assets**
**----- Start of picture text -----**
Leasehold
improve- Computer Fixtures
ments equipment and fittings Total
£ £ £ £
Cost
At 1 July 2022 108,381 173,001 7,176 288,558
Disposals in the year (53,456) (7,176) (60,632)
At 30 June 2023 108,381 119,545 227,926
Depreciation
At 1 July 2022 86,218 114,098 7,176 207,492
Charge for the year 11,081 23,909 34,990
Disposals in the year (53,456) (7,176) (60,632)
At 30 June 2023 97,299 84,551 181,850
Net book value
At 30 June 2023 11,082 34,994 46,076
At 30 June 2022 22,163 58,903 81,066
**----- End of picture text -----**
## **10 Intangible fixed assets**
|**Intangible fixed assets**||
|---|---|
||Software
development
£
69,576
69,576
4,076
4,076
**65,500**|
|**Cost**
At 1 July 2022
Additions in the year
At 30 June 2023
**Depreciation**
At 1 July 2022
Charge for the year
Disposals in the year
At 30 June 2023
**Net book value**
At 30 June 2023
At 30 June 2022||
## **11 Investments**
||**2023**
**£**|2022
£|
|---|---|---|
|Investment in unquoted subsidiary undertaking at cost|**10,001**|10,001|
Juvenile Diabetes Research Foundation Limited **35**
**Notes to the financial statements** 30 June 2023
## **12 Subsidiary undertaking**
The charitable company owns the whole of the issued ordinary share capital of JDRF Trading Limited, a company registered in England on 17 December 2007. The subsidiary is used for non-primary purpose trading activities. All activities have been consolidated on a line by line basis in the statement of financial activities. Available profits are gift aided to the charitable company. A summary of the results of the subsidiary is shown below:
**----- Start of picture text -----**
2023 2022
£ £
Turnover 355,393 338,579
Cost of sales
Gross profit 355,393 338,579
Administrative expenses (81,931) (64,617)
Operating profit 273,462 273,962
Taxation
Profit on ordinary activities after taxation 273,462 273,962
Gift aid distribution to parent undertaking (273,462) (273,962)
Movement in retained earnings
**----- End of picture text -----**
The aggregate of the assets, liabilities and funds was:
||**2023**
**£**|2022
£|
|---|---|---|
|Assets
Liabilities
Funds|**267,766**
**(257,765)**
**10,001**|395,981
(385,980)
10,001|
## **13 Parent undertaking**
and the results for the year are disclosed as follows:
||**2023**
**£**|2022
£|
|---|---|---|
|Gross income
Results for theyear|**5,759,865**
**(321,516)**|5,622,232
172,513|
## **14 Debtors**
|**Debtors**|||||
|---|---|---|---|---|
||Group||Charity||
||**2023**
**£**|2022
£|**2023**
**£**|2022
£|
|Trade debtors
Amounts due from subsidiary
Prepayments
Accrued income|**54,490**
**235**
**155,749**
**171,313**|94,450
235
204,506
315,413|**10,564**
**101,096**
**155,749**
**158,813**|21,849
204,540
204,506
315,453|
||**381,787**|614,644|**426,222**|746,348|
Juvenile Diabetes Research Foundation Limited **36**
**Notes to the financial statements** 30 June 2023
## **15 Creditors: amounts due within one year**
||Group|Group|Charity|Charity|
|---|---|---|---|---|
||**2023**
**£**|2022
£|**2023**
**£**|2022
£|
|Trade creditors
Taxation and social security
Other creditors
Rent free benefit over lease period
Deferred income
Accrued costs|**58,567**
**75,806**
**43,468**
**9,138**
**199,772**
**108,596**|51,749
78,594
45,845
14,487
174,088
189,223|**58,362**
**65,249**
**43,468**
**9,138**
**53,630**
**108,596**|51,749
66,081
45,845
14,487
7,425
189,223|
||**495,347**|553,986|**338,443**|372,311|
Included in deferred income are amounts received in advance for events and sponsorship as set out below:
||Group|Group|Charity|Charity|
|---|---|---|---|---|
||**2023**
**£**|2022
£|**2023**
**£**|2022
£|
|Brought forward as at 1 July
Additional income deferred in year
Brought forward funds released in year
Carried forward as at 31 June|**174,088**
**199,772**
**(174,088)**|144,750
174,088
(144,750)|**7,425**
**53,630**
**(7,425)**|4,000
7,425
(4,000)|
||**199,772**|174,088|**53,630**|7,425|
## **16 Analysis of net assets between funds**
|**Group**|**Restricted**
**funds**
**£**|**Un-**
**restricted**
**funds**
**£**|**Total**
**funds**
**2023**
**£**|Restricted
funds
£|Un-
restricted
funds
£|Total
funds
2022
£|
|---|---|---|---|---|---|---|
|Tangible fixed assets
Intangible assets
Net current assets
Net assets at 30 June|**795,165**
**795,165**|**46,076**
**65,500**
**1,663,366**
**1,774,922**|**46,076**
**65,500**
**2,458,531**
**2,570,107**|771,360
771,260|81,066
1,765,736
1,846,802|81,066
2,537,096
2,618,162|
|**Charity**|**Restricted**
**funds**
**£**|**Un-**
**restricted**
**funds**
**£**|**Total**
**funds**
**2023**
**£**|Restricted
funds
£|Un-
restricted
funds
£|Total
funds
2022
£|
|---|---|---|---|---|---|---|
|Tangible fixed assets
Intangible fixed assets
Investments
Net current assets
Net assets at 30 June|**795,165**
**795,165**|**46,076**
**65,500**
**10,001**
**1,653,365**
**1,774,942**|**46,076**
**65,500**
**10,001**
**2,448,530**
**2,570,107**|771,360
771,360|81,066
10,001
1,755,735
1,846,802|81,066
10,001
2,527,095
2,618,162|
Juvenile Diabetes Research Foundation Limited **37**
**Notes to the financial statements** 30 June 2023
## **17 Movement in funds**
**----- Start of picture text -----**
At 1 At 30
July June
2022 Income Expenditure 2023
£ £ £ £
Restricted funds
Research funding 165,278 932,253 (823,870) 273,661
Steve Morgan Foundation 2,690 (2,690)
Steve Morgan Foundation Barrett Trial 144,264 (143,509) 755
Steve Morgan Foundation Grand Challenge 119,925 (113,597) 6,328
Support and awareness 43,000 84,294 (84,294) 43,000
CMC Funding 560,392 375,000 (463,971) 471,421
Total restricted funds 771,360 1,655,736 (1,631,931) 795,165
Unrestricted funds
General funds 1,846,802 4,459,522 (4,531,382) 1,774,942
Total funds 2,618,162 6,115,258 (6,163,313) 2,570,107
At 1 At 30
July June
2021 Income Expenditure 2022
£ £ £ £
Restricted funds
Research funding 307,852 918,175 (1,060,748) 165,278
Steve Morgan Foundation 2,690 2,690
Support and awareness 10,000 33,000 43,000
CMC Funding 86,215 937,500 (463,323) 560,392
Total restricted funds 406,757 1,888,675 (1,524,072) 771,360
Unrestricted funds
General funds 1,817,223 4,019,844 (3,990,265) 1,846,803
Total funds 2,223,981 5,908,518 (5,514,337) 2,618,163
**----- End of picture text -----**
## _**Purpose of restricted funds**_
Restricted funds are received for the purpose of carrying out particular activities; usually research grant funding, support and awareness and advocacy activities. They either directly contribute to these activities, or are applied to core costs related to information/education about type 1 diabetes and the related dissemination of research information.
Juvenile Diabetes Research Foundation Limited **38**
## **Notes to the financial statements** 30 June 2023
## **18 Operating lease commitments**
The group and charity had future minimum commitments at the year end under operating leases as follows:
|Payments which fall due:|**2023**
**Land and**
**buildings**
**£**|2022
Land and
buildings
£|
|---|---|---|
|Less than one year
Between two and five years|**171,171**
**299,549**|171,699
470,720|
||**470,720**|642,419|
## **19 Related party transactions**
Trustee expenses for the year totalled £nil (2022 - £nil) and charitable donations received from trustees totalled £42,969 (2022 - £51,573).
There were no other transactions with related parties which required disclosure during the year (2022 - none).
Juvenile Diabetes Research Foundation Limited **39**