OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-06-30-accounts

11/12/2024

Juvenile Diabetes Research Foundation Limited

Trading as Breakthrough T1D from October 2024

Annual Report and Financial Statements

30 June 2024

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

Year ended 30 June 2024

The Directors present their report, together with the audited financial statements of Juvenile Breakthrough T1D), for the year ended 30 June 2024.

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.

JDRF is becoming Breakthrough T1D

As a UK registered charity, JDRF, now called Breakthrough T1D, is proud to be a part of a global network of independent but co-ordinated charities with the same name working towards the same goal: a world without type 1 diabetes. There are JDRF/Breakthrough T1D affiliates in the USA, UK, Canada, Australia, the Netherlands and Israel.

Between 2023 and 2024, the JDRF group of charities together carried out a major brand review, culminating in a decision to rebrand to become Breakthrough T1D. The JDRF founding entity, based in the United States, previously called JDRF International, was the first to adopt the new name in June 2024, with other members of the global affiliation following suit throughout the year, including JDRF in the UK which became Breakthrough T1D in the UK in October 2024.

The extensive market research conducted for the rebrand, involving over 5,000 people living with or affected by type 1 diabetes (T1D) around the world, determined that the name JDRF no longer represented who we are, what we do or the full spectrum of who we support. The has not been used as a clinical term for decades, and 88% of people living with T1D are adults.

The name Breakthrough T1D reflects our exclusive focus on the needs of the T1D community. breakthroughs in access to treatments and bringing the T1D community together to help everyone make their own personal breakthroughs.

In October 2024 JDRF in the UK changed its operating name to Breakthrough T1D. For the time being our legal name remains Juvenile Diabetes Research Foundation Limited, as we complete our rebrand in operational stages. Although this report covers a timeframe when we were known as JDRF, in this report we will refer to ourselves as Breakthrough T1D where appropriate in line with our new identity.

This year, Breakthrough T1D in the UK contributed £2 million to the global Breakthrough T1D research programme investing in the most promising research worldwide.

Juvenile Diabetes Research Foundation Limited 1

Year ended 30 June 2024

Our mission in the UK

As Breakthrough T1D we focus on what people living with type 1 diabetes need now and next. We break the barriers to help people manage the condition and enjoy full, healthy lives.

We lead the way to more effective solutions connecting the brightest minds to advance treatments, influence policy and improve access to care for those who need it.

We will make type 1 diabetes a thing of the past by accelerating research and driving innovation forward.

As we drive towards curing type 1 diabetes, we help make everyday life better for the people who face it.

Chair and CEO Foreword

It is with great pride that we report on a year defined by high impact. We have made breakthroughs in research, access to treatments, support for people living with type 1 diabetes (T1D), and a long overdue and very welcome change to a new name and brand identity. Our income has grown by 9% thanks to the commitment of our supporters.

We were delighted that in December 2023 the National Institute for Health and Care Excellence (NICE) approved hybrid closed loop (HCL) to be provided on the NHS. HCL takes readings from a glucose sensor to automatically adjust insulin delivery and will be offered to around 75% of people living with type 1 diabetes over the next five years in England and Wales.

Scotland now has a policy to provide HCL systems to people who need support managing their condition. Northern Ireland usually adopts the same guidance as England and Wales, and we expect to see technology access improve. HCL is the most transformational type 1 diabetes treatment since the discovery of insulin. That it is now starting to be provided by the NHS makes this a landmark year indeed.

We are proud to lead type 1 diabetes research, both as an affiliate in the global Breakthrough T1D network, and also by funding UK research in our own right. Thanks to the Type 1 Diabetes Grand Challenge, our partnership with the Steve Morgan Foundation and Diabetes UK, we committed £3 million to research over the next two years into the root causes and triggers of type 1 diabetes in the UK. We awarded grants totalling a further £2.7 million in August 2024 to drive projects developing better and more responsive insulins over the next twelve months.

Restricted access to type 1 diabetes mental health treatments remains a key issue across the UK. We wrote the Type 1 Disordered Eating Parliamentary Inquiry report identifying key recommendations to improving care, which we launched across all BBC news channels in January 2024.

In March, in partnership with the social enterprise DigiBete, we launched Coping with Diabetes, a new mental health interactive digital tool to support children and young people living with T1D with their mental health. The new digital tool was created together with young people living with type 1 diabetes and specialist clinicians.

Juvenile Diabetes Research Foundation Limited 1

Year ended 30 June 2024

Chair and CEO Foreword (continued)

On top of all our achievements of the last year, we have set our ambitions for the future. In early 2025, we will launch a new strategy which will drive impact, inspire innovation, and generate engagement and income over the next ten years.

Despite economic uncertainty and cost of living constraints, our supporters have continued to invest in our work and fundraise in myriad ways, generously enabling us to drive growth in our income and our contribution to our mission. This generosity enables us to stand proud within the charity sector. We are extremely grateful for their support and continued investment in our mission.

Phil Aird-Mash Chair

Karen Addington Chief Executive

Juvenile Diabetes Research Foundation Limited 2

Year ended 30 June 2024

OUR FY24 STRATEGY IMPACT

1. JDRF Rebrands to Breakthrough T1D

We announced our rebrand to Breakthrough T1D UK in June and switched to the new brand in October 2024. Our new name, visual identity and brand language explains our vision, mission and work. We launched the brand with integrated campaigns in June and October to a very positive response, engaging our existing audiences and reaching new beneficiaries. Our October brand campaign not only raised the profile of our work as a charity but also raised the profile of type 1 diabetes (T1D), and its daily challenges and the need for better treatments and cures.

In FY24 we significantly increased our national media coverage across print and broadcast Programme and 5Live) and Sky News, and front-page articles in the Guardian, as well as coverage in The Sun and the Sunday Mail. Our social media following has grown to over 100,000 followers across X, Facebook, Instagram and LinkedIn, a 6% increase over the previous year. We have also seen a 25% increase in engagements over the last year.

2. FY24 mission goal - driving research

2.1 UK delivery of research and partnerships

A £50 million partnership between Breakthrough T1D and Diabetes UK funded by the Steve Morgan Foundation, the Type 1 Diabetes Grand Challenge is accelerating research in three key areas: replacing the beta cells lost in the immune attack that causes type 1, developing more effective and responsive insulins (known as novel insulins) and investigating the root causes of type 1 diabetes. In FY24 the Root Causes Grand Challenge awarded £3 million in funding to two projects through the Immune Insights for T1D Therapy funding call, and these projects began in January 2024. Dr Danijela Tatovic is investigating whether a combination of two existing immunotherapy drugs can slow the progression of T1D. Dr James Pearson is working to determine if a new medicine that slows the destruction of insulin-producing beta cells can be more effective if administered at certain times of day.

In the Novel Insulins Challenge, The Novel Insulins Innovation Incubator was launched in November 2023, and in February 2024 researchers working on novel insulins pitched their ideas to an international expert review panel comprised of lay and scientific members in an -style process. In August 2024, the Grand Challenge granted funding of over £2.7 million to six new projects researching novel insulins. The projects are investigating ways to improve the effectiveness of insulin therapy, by developing innovative products including glucose-responsive insulins, an ultrafast insulin and a combined insulin and glucagon therapy.

The Connect Immune Research project brings together researchers working to understand conditions, such as type 1 diabetes, multiple sclerosis, and rheumatoid arthritis. Juvenile Arthritis Research, a charity focused on the autoimmune condition juvenile idiopathic arthritis, became the 12[th] member of the Connect Immune Research partnership.

Juvenile Diabetes Research Foundation Limited 3

Year ended 30 June 2024

OUR FY24 STRATEGY IMPACT (continued)

2. FY24 mission goal - driving research (continued)

2.1 Breakthrough T1D international delivery of research partnerships (continued)

In the last financial year, Breakthrough T1D UK delivered £2 million charitable funding to support the Breakthrough T1D global research programme.

In February, Breakthrough T1D in the US and the Helmsley Charitable Trust announced over £1.5 million in joint funding for five international researchers including Professor Claire Meek at the University of Leicester to access unique data sources and unravel how type 1 diabetes develops, with the goal of preventing the condition. Professor Meek is partnering with the Environmental Determinants of Islet Autoimmunity (ENDIA) study to access their study data. The ENDIA study monitors close relatives of people with T1D, beginning when they are still in the womb, to unravel the role environmental and genetic factors play in initiating and influencing the development of type 1 diabetes.

The ELSA study, co-funded by Breakthrough T1D, is a screening study to identify people in the early stages of developing type 1 diabetes before symptoms show and was launched in November 2022 for children aged three to 13. In October 2023, the study expanded to Northern Ireland. It has now achieved its goal of recruiting 20,000 participants to be screened for biological signs of T1D and will continue to sign up new participants. The researchers in the ELSA study helped to develop a diagnostic code for use on electronic medical records of people in the earliest stages of type 1 diabetes, allowing them to receive better, more timely healthcare and access to emerging treatments.

A new test fixed to a slide (known as a biochip) that uses genetic information and an algorithm to generate a genetic risk score to help predict who is at high risk of developing type 1 diabetes has been approved for use in the UK. The test was developed by the UK diagnostics company Randox, using a genetic risk score developed by Professor Richard Oram at the University of Exeter with Breakthrough T1D funding.

The BANDIT (Baricitinib in New Onset Type 1 Diabetes) trial, a Breakthrough T1D-funded clinical trial in Australia, found that taking a baricitinib pill once-daily for 48 weeks delayed progression of type 1 diabetes. In people diagnosed with T1D within the previous 100 days, baricitinib preserved insulin-producing beta cell function, decreased blood glucose fluctuations, and reduced the need for insulin.

New international guidance published in June 2024 established for the first time how adults, -stage T1D should be supported and monitored. This includes the best methods and recommended frequency for re-testing to monitor disease progression across pre-symptomatic stages, as well as the point at which insulin should be introduced. The detailed guidance was driven by Breakthrough T1D in the US and co-authored by more than 60 international T1D experts, including Breakthrough T1D-funded researchers and expert members of the US staff team.

Juvenile Diabetes Research Foundation Limited 4

Year ended 30 June 2024

OUR FY24 STRATEGY IMPACT (continued)

2. FY24 mission goal - driving research (continued)

2.1 Breakthrough T1D international delivery of research partnerships (continued)

In June 2024, Vertex Pharmaceutics presented the latest data from the VX-880 clinical trial, where people with type 1 diabetes are given stem cell derived islets (based on decades of Breakthrough T1D-funded research by Professor Doug Melton) alongside immunosuppressant drugs. They reported that 12 people with type 1 have now received the began making insulin in response to glucose within 90 days, with 11 out of the 12 patients needing less insulin or achieving insulin independence. The therapy also reduced HbA1c levels, eliminated severe hypos and improved time-in-range.

3. FY24 Accelerating access to treatments

We played an integral part in the appraisal process which resulted in the National Institute for Health and Care Excellence (NICE) formally recommending the adoption of hybrid closed loop (HCL) technology in England and Wales in December 2023.

Our campaigning led to a widening of the criteria for access to HCL on the NHS. In January 2024, NHS England published its five-year implementation strategy for HCL, under which 75% of people with type 1 would meet the criteria for the technologies. The strategy included a commitment to establish a national framework of HCL technologies for NHS integrated care boards (ICB) to purchase from. NHS England will allow ICBs to request reimbursement for 75% of the cost of expanding HCL access. NHS England also expects clinicians to be properly trained by manufacturers on the use of HCL technologies.

In Scotland, NHS funding was set aside in May 2024 to support the rollout of HCL to all children living with type 1 and expand provision of HCL for adults with type 1. In April 2024, the Northern Ireland Department of Health confirmed that it was considering introducing HCL treatment.

Our Pathways to Choice report was cited as core evidence by NHS England in the development of pilot programmes on health inequalities, particularly with regards to clinician support and how healthcare professionals can better advise and support those living with T1D.

In January 2024 we launched the Parliamentary Inquiry report into type 1 diabetes and disordered eating (T1DE) chaired by then MPs Sir George Howarth and Rt Hon Theresa May. nsensus on T1DE diagnosis, creating a data registry to establish UK incidence and outcomes, funding for integrated care pilots and the establishment of a comprehensive prevention programme. Theresa May, our Global Research Ambassador, raised this inquiry d Questions. We are now working on building cross-sector consensus and funding to support the implementation of these recommendations.

Juvenile Diabetes Research Foundation Limited 5

Year ended 30 June 2024

OUR FY24 STRATEGY IMPACT (continued)

4. FY24 Providing information and support for people type 1

In March, we launched the Coping with Diabetes interactive psychological support tool for young people aged 10-14, in partnership with DigiBete and co-designed with the Children and Young People Psychology Network. Available on the DigiBete app, which provides information and support to children and young people living with type 1 diabetes (T1D), the tool uses real-life stories, animations and interactive activities to help reframe thoughts and feelings about diabetes. It supports children and young people to develop resilience, reducing diabetes distress and helping them to cope with the daily challenges of living with T1D.

Our information and support resources continue to be widely used and valued. Our schools CPD e-Learning module, developed in partnership with the NHS, has been accessed by 26,000 users, the highest number ever. We distributed 4,600 Kidsacs, a free bag for newlydiagnosed children. The bag includes Rufus, a cuddly toy bear who has special felt patches on his test and injection sites that children can practice on.

In FY24, our information and support resources were accessed by 3,592 adults (an 8% increase on FY23) and 7,495 families (a 12% increase). Our online resources were downloaded 9,557 times (a 223% increase) following the launch of our new website, which was

We have continued to focus our free community events on bringing people together to exchange information about living with T1D and facilitate a greater degree of peer support, working with strategic partners and the NHS. We have focused on locations which are more inclusive, increased lived experience talks and panels and widened the diversity of speakers. We hosted fewer events in FY24 (nine as opposed to 15 in FY23) but saw a 16% increase in the average number of attendees. These events, provided for the T1D community, maintained their consistently high customer ratings of 4.6 out of 5.

Last year we were delighted to help broker an NHS England pilot with the Gypsy, Roma and Traveller community to increase access and uptake of diabetes treatments and services, as these are communities that face systematic health inequalities.

5. Looking Forward

Our ambitious ten-year strategic mission and goals, supported by our new brand, will lead us into a decade of transformational research, where we will invest in the most promising global research and build on the scientific expertise in the UK. Over the next ten years, we will remain dedicated to transforming this research into reality for people with type 1 diabetes (T1D), turning scientific advancements into tangible treatments that people are able to access at the point of need. We will also be focused on reaching more of the T1D community and engaging them with our work and building our community of support to accelerate impact and progress.

Making breakthroughs happen: Global Research

Our global research strategy has two core objectives: curing type 1 diabetes and improving research into early detection, disease-modifying therapies and cell therapie 1 easier until the day we can cure it.

Juvenile Diabetes Research Foundation Limited 6

Year ended 30 June 2024

OUR FY24 STRATEGY IMPACT (continued)

5. Looking Forward (continued)

Making breakthroughs happen: UK Research

In FY25 our work through the Type 1 Diabetes Grand Challenge will continue to accelerate research and new treatment development. The six novel insulin international research projects, announced in August 2024, will begin. In the autumn of 2024, a new project examining the root causes of T1D will be launched. In November, the Type 1 Diabetes Grand Challenge will hold a symposium in London that brings together the funded researchers in the root causes and replacing beta cells Challenges with people who have lived experience of type 1.

Bringing breakthroughs to the community: Access to Treatments

We will be working with NICE to assess the NHS use of teplizumab to help delay the onset of T1D. At the same time, we will be advocating for an NHS care pathway to support the treatment and care of children who have been screened and identified as having early-stage type 1 diabetes. We will continue to advocate for increased access to HCL across the four nations. We will build the stakeholder consensus needed to secure national funding and support for the T1DE Parliamentary Inquiry recommendations to be implemented.

Bringing breakthroughs to the community: Living well

We will continue to provide relevant and high quality information and support to those living with and affected by T1D in the devolved nations of the UK. We will deliver more personalised content: around type 1 diabetes technology treatments options and information content on how T1D affects people at different life stages.

With the increase in early detection and screening for early-stage type 1 diabetes, we will increase our information and support offering for those who have been identified as having the biomarkers which indicate early-stage type 1 diabetes. We will work in partnership with the T1D community and healthcare professionals at an individual and population level to ensure that people living with type 1 receive high quality care and support.

Deepening engagement and support to enable breakthroughs: Engagement

We will implement our new brand to increase awareness and understanding of our work to substantially increase engagement and build relationships with the T1D community and beyond.

Deepening engagement and support to enable breakthroughs: Income

We will drive income growth by maximising and unlocking new opportunities to engage with and contribute to our mission. We will protect and grow our core income, substantially increase our income through diversification and provide a quality, data-driven supporter experience.

Juvenile Diabetes Research Foundation Limited 7

Year ended 30 June 2024

FY24 FINANCIAL REVIEW

Summary

Breakthrough T1D achieved its highest ever level of income in FY24, growing by over £0.5m to £6.7m. This is despite the fact that this was the first year since FY21 in which no funds were received from the joint DCMS/SMF Community Match Challenge (CMC) programme. This £3m three year award was received on a front loaded basis between FY21 and FY23, so it is a remarkable achievement to have replaced this amount and more from our own fundraising and engagement activity over the last three years.

This has also been the year in which we made initial research payments through the Type 1 Diabetes Grand Challenge. More, and larger, payments will be following in FY25 in our two areas of Grand Challenge activity: Novel Insulins and Root Causes of Type 1 Diabetes.

While income grew by 9%, funds spent on charitable purposes grew by 12%, with similar levels of growth in both our research funding and our support and awareness goals. Charitable spending grew to £4.4m this year from £3.9m last year. Reserves dropped over the year from £2.6m to £2.3m, in line with our budget for the year, as we spent carried forward restricted funds and invested in our once-in-a-generation rebrand.

Income generation

Income of £6.7m grew by 9% on the previous year (FY23: £6.1m). Income during FY24 from the Type 1 Diabetes Grand Challenge programme of £0.4m was at similar levels to income received from the Community Match Challenge the previous year. Fundraised income however grew once again by £0.4m, contributing significantly to the overall growth in income experienced over the year.

Charitable Expenditure

Research funding grew by £0.3m to £2.9m. UK and global research achievements during the year are described on pages five to seven. Breakthrough T1D's support and awareness costs grew to £1.5m (FY23: £1.3m). Details of the activities and achievements of our work in these areas are described on pages eight to nine, including preparations for the launch of our new name and brand in October 2024.

Expenditure costs of raising funds

With events constituting a higher proportion of fundraising activity during FY24, the cost of raising funds grew to £2.55m (FY23: £2.23m).

JDRF Trading Limited

These accounts consolidate the income, costs, assets and liabilities of JDRF Trading Limited (name unchanged) with those of parent charity Breakthrough T1D. This small wholly owned trading subsidiary enables Breakthrough T1D 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 separate accounts which can be obtained from marised in note 12 to further by 14% to £406,000 (FY23: £355,000), with operating profit for the year (gift aided in full to Breakthrough T1D) growing by 13% to £311,000 (FY23: £273,000), as costs grew slightly more than income.

Juvenile Diabetes Research Foundation Limited 8

Year ended 30 June 2024

FY24 FINANCIAL REVIEW (continued)

Balance sheet for the charitable group

Cash and short-term deposits at 30 June 2024 totalled £2.3m (FY23: £2.6m). 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 £520,000 (FY23: £380,000), of which £340,000 related to accrued income (FY23: £170,000). Of the total year end debtors figure, 98% had been received by November, and the outstanding balance is not considered at risk. Creditors were £580,000 (FY23: £495,000).

Funds

Restricted funds dropped during FY24 from £0.8m to £0.64m. As indicated last year, we have now spent the £0.5m CMC funds carried forward from FY23 (apart from some residual depreciated amounts), though the movements in other funds (note 17) has had some mitigating impact in keeping restricted funds at a fairly high level compared to our historical position.

Unrestricted funds dropped from £1.77m to £1.63m. The impact of this change on paragraph below.

FY25 and beyond

higher research commitments under the Grand Challenge programme. We also expect our fundraised income to continue to grow, driving our charitable impact for people with type 1. While total income will increase considerably, Grand Challenge income, the majority of the growth expected, will be fully accounted for by onward research grants and related new activity costs. As a result it will not in any other way affect Breakthro position.

GOVERNANCE INFORMATION

Public benefit and grant making policy

The Directors have taken account of the Charity Commission's guidance on public benefit in reviewing Breakthrough T1D's aims and objectives and in planning future activities. In addition to its own funding commitments, including those relating to the Type 1 Diabetes Grand Challenge, Breakthrough T1D in the UK aims to fund as much as possible of the globally global research department provides details of the global grant payments payable in the UK that month. We make payments for those projects for which we have funding from restricted grants and donations, and as much towards the other grants as available funds, our financial projections and our reserves policies allow.

Juvenile Diabetes Research Foundation Limited 9

Year ended 30 June 2024

GOVERNANCE INFORMATION (continued)

Activity in Scotland

Breakthrough T1D has staff based in Scotland, supported by a number of committed volunteers. We are supported by the public across Scotland which also raises funds on £310,000 during the year. In line with its goal of funding the best research wherever it is taking place in the world, Breakthrough T1D funds type 1 diabetes research in Scotland and during FY24 funded projects led by the Universities of Edinburgh and Dundee.

Breakthrough T1D fundraising statement

Almost all our work driving the search to cure, treat and prevent type 1 diabetes (T1D), and to help and support people affected by T1D, is made possible by fundraised income thanks to our generous supporters. Fundraising is vital to our work in achieving our charitable mission, 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 in-house. It is supported from time to time by a professional telephone fundraising agency.

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-to-help/give/donate/oursupporter-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.

Further fundraising regulation

We are registered with the Fundraising Regulator and adhere to its code of Fundraising Practice. Breakthrough T1D 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 FY24, we received twelve 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.

Juvenile Diabetes Research Foundation Limited 10

Year ended 30 June 2024

GOVERNANCE INFORMATION (continued)

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 ensure our telemarketing campaigns avoid unreas

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

Cash and Reserves policy

activities. The Board has adopted a cash and 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, and changes were introduced during FY24, including clarifying the relationship between cash levels during the year and the reserves position at the year end. The policy assesses historical costs and income, and establishes required operating levels for cash balances during the year and year end free reserve levels. The Board expects Breakthrough T1D at its current scale to hold minimum free reserves of £1.1m, and to aim to hold £1.65m when circumstances allow. Free reserves (unrestricted funds minus fixed assets) of £1.57m at the year end were well above the minimum level required.

Risk management and mitigation

The Board monitors the principal business and control risks to Breakthrough T1D, within a control framework. The risk assessment register is reviewed 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.

At present Breakthrough T1D has no red risks (risk score 15+) and two amber risks (risk score 9-12) out of a possible total of 25. The Type 1 Diabetes 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 Breakthrough T1D should several key staff leave over a short period of time. Breakthrough T1D has policies and good practice aimed at staff retention and talent management, and reviews succession planning for critical roles on a regular basis.

Juvenile Diabetes Research Foundation Limited 11

Year ended 30 June 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Juvenile Diabetes Research Foundation Limited, now using the operating name Breakthrough T1D as described above, 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, and the new operating name of Breakthrough T1D was adopted in August 2024 and publicly launched in October 2024.

Breakthrough T1D is governed by a Board of Directors, the members of which are the trustees of the charity for the purposes of charity law, and which meets at least five times a year. The Board sets the strategic goals of Breakthrough T1D, 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 the chari running of the charity.

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. No recruitment activity took place during the year as new Directors were appointed in March 2023 in advance of Directors retiring during FY24.

The Audit and Risk Committee is responsible for Breakthrough T1D's compliance with statutory reporting, managing the relationship with the external auditor, reviewing the draft accounts and accompanying report, Breakthrough T1D's risk management and a range of financial controls and processes. This Committee is made up of the Treasurer and at least two other Directors, is attended by the Director of Finance and Resources and Head of Finance and meets at least twice a year.

We are delighted that two members of the UK board have also been appointed to roles within the Breakthrough T1D International charity headquartered in the United States. Wilson Leech (UK Vice Chair and Chair of our Audit and Risk Committee) joined the International Audit Committee in July 2023, and Per Lundin joined the International Research Committee in July 2023. This committee was merged and re-named the Mission Impact Committee in July 2024, and Per also joined the Board of Directors of Breakthrough T1D International in July 2024.

Appointment of Directors

All potential Directors of Breakthrough T1D 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 the Board and serve an initial term of three years but may be re-appointed for a further term of three years.

Juvenile Diabetes Research Foundation Limited 12

Year ended 30 June 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

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.

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 16.

Breakthrough T1D is committed to being open about the work that we do to achieve our mission. Our approach to pay and reward is that this should enable us to recruit and retain the skilled staff we need to create a world without type 1 diabetes. All 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 the charity. 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 individual performing the role. Salaries of senior staff are reviewed biennially against the market by a specialist pay and reward consultancy and agreed by the three board officers.

Volunteers

Volunteers play a vital role at Breakthrough T1D. All Board Directors and advisors from the scientific community give their time free of charge. Two hundred people with lived experience of type 1 are on our Insight and Experience Panel. In the past year volunteers from the Panel have supported more than 20 projects on subjects including the impact of the covid-19 pandemic on long-term conditions, providing recommendations for guidance supporting people with T1D in the workplace, and the use of AI software for diabetes retinal screening. We have more than 100 Youth Ambassadors aged 25 or under who share their experiences of living with type 1 to raise funds for Breakthrough T1D and awareness of type 1 diabetes. A group of our Youth Ambassadors joined a Patient Advisory Group to help design the SMILE T1D trial. This is a small sample of the ways in which in FY24 hundreds of people, many living with type 1, gave us their time and lent us their skills to help us create a world without type 1. We are very grateful for every one of our dedicated volunteers.

Juvenile Diabetes Research Foundation Limited 13

Year ended 30 June 2024

STATEMENT

The Directors are responsible for preparing the Directors' 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:

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:

This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006.

Juvenile Diabetes Research Foundation Limited 14

Year ended 30 June 2024

STATEMENT

(continued)

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 2024 was 8. 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 9 December 2024 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
Social media
Company registration number		 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 (Chair)
Barrie Brien
Jared Chebib (Treasurer)
Christina Croft (Retired 31 December 2023)
Sarah Johnson
Wilson Leech (Vice Chair)
Per Lundin
James Lurie
Nadia Swann
Jonathan Taylor
Karen Addington
Terence Lovell
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@breakththrought1d.org.uk
www.breakththrought1d.org.uk
https://www.facebook.com/BreakthroughT1DUK
https://www.instagram.com/breakthrought1duk/
https://x.com/BT1DUK
https://www.linkedin.com/company/breakthrought1duk/
02071638 (England and Wales)

Juvenile Diabetes Research Foundation Limited 16

Reference and administrative details

Charity registration number 295716 (England and Wales) SC040123 (Scotland) National and regional offices JDRF Scotland: Aberdeen Office T: Aberdeen: 01224 248 677 T: Central Scotland: 07790 572188 E : scotland@breakthrought1d.org.uk

Auditor Buzzacott LLP 130 Wood Street London EC2V 6DL Bankers Barclays Bank plc Marble Arch Corporate Banking Group PO Box 32016 London NW1 2ZH

Juvenile Diabetes Research Foundation Limited 17

report 30 June 2024

Juvenile Diabetes Research

Foundation Limited, trading as Breakthrough T1D since October 2024

Opinion

We have audited the financial statements of Juvenile Diabetes Research Foundation Limited for the year ended 30 June 2024 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, i Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

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 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 ng 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 directors with respect to going concern are described in the relevant sections of this report.

Juvenile Diabetes Research Foundation Limited 18

report 30 June 2024

Other information

The directors are responsible for the other information. The other information comprises the information included in the d report other than the financial statements and our 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:

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:

Juvenile Diabetes Research Foundation Limited 19

report 30 June 2024

Responsibilities of directors

As explained more fully in the director responsibilities statement, the directors 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 directors 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 directors applicable, matters related to going concern and using the going concern basis of accounting unless the 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:

We assessed the susceptibility of the group including obtaining an understanding of how fraud might occur, by:

Juvenile Diabetes Research Foundation Limited 20

report 30 June 2024

(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 directors 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

directors as a body, 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.

Alison Pyle (Senior Statutory Auditor) For and on behalf of Buzzacott LLP, Statutory Auditor 130 Wood Street London EC2V 6DL Date: 13 December 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 2024

Income and expenditure
Notes
Un-
restricted
funds
£		 Restricted
funds
£		 Total
funds
2024
£		 Un-
restricted
funds
£		 Restricted
funds
£		 Total
funds
2023
£
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 2023
Total funds carried forward
at 30 June 2024
17		 2,160,405
2,507,145
66,763		 1,080,620
588,774
267,220		 3,241,025
2,507,145
66,763
588,774
267,220		 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
4,734,313 1,936,614 6,670,927 4,459,522 1,655,736 6,115,258
2,491,395
1,145,153
529,172		 108,818
1,230,704
30,228		 2,600,213
2,375,857
559,400		 2,109,379
1,107,267
356,150		 124,864
1,002,575
155,448		 2,234,243
2,109,842
511,598
1,674,325 1,260,932 2,935,257 1,463,417 1,158,023 2,621,440
709,562 719,710 1,429,272 958,586 349,044 1,307,630
2,383,887 1,980,642 4,364,529 2,422,003 1,507,067 3,929,070
4,875,282 2,089,460 6,964,742 4,531,382 1,631,931 6,163,313
(140,969)
1,774,942		 (152,846)
795,165		 (293,815)
2,570,107		 (71,860)
1,846,802		 23,805
771,360		 (48,055)
2,618,162
1,633,973 642,319 2,276,292 1,774,942 795,165 2,570,107

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 2024

Notes Group Group Charity Charity
2024
£		 2023
£		 2024
£		 2023
£
Fixed assets
Tangible assets
9
Intangible assets
10
Investments
11
Current assets
Debtors
14
Short term deposits
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		 17,286
51,585		 46,076
65,500		 17,286
51,585
10,001		 46,076
65,500
10,001
68,871 111,576 78,872 121,577
522,763
1,012,686
1,250,336		 381,787
975,968
1,596,393		 653,854
1,012,686
925,069		 426,222
975,698
1,385,053
2,785,785 2,953,878 2,591,609 2,786,973
578,364 495,347 394,189 338,443
2,207,421 2,458,531 2,197,420 2,448,530
2,276,292 2,570,107 2,276,292 2,570,107
642,319
1,633,973		 795,165
1,774,942		 642,319
1,633,973		 795,165
1,774,942
2,276,292 2,570,107 2,276,292 2,570,107

Approved by the directors on 9 December 2024 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 2024

Notes 2024
£		 2023
£
Cash flows from operating activities:
Net cash (used in) provided by operating activities
A
Cash flows from investing activities:
Interest received
Purchase of tangible fixed assets
Short term deposits
Net cash provided by (used in) investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at 1 July 2023
B
Cash and cash equivalents at 30 June 2024
B		 (363,443) 130,721
59,289
(4,915)
(36,988)		 34,507
(69,576)
(16,165)
17,386 (51,234)
(346,057)
1,596,393		 79,487
2,476,439
1,250,336 1,596,393
Notes to the statement of cash flows for the year to 30 June 2024

A Reconciliation of net movement in funds to net cash provided by operating activities

----- Start of picture text -----
2024 2023
£ £
Net movement in funds (as per the statement of financial activities) (293,815) (48,055)
Adjustments for:
Depreciation and amortisation charge 47,620 39,066
Interest receivable (66,763) (34,507)
(Increase) decrease in debtors (133,502) 232,856
Increase (decrease) in creditors 83,017 (58,639)
Net cash (used in) provided by operating activities (363,443) 130,721
----- End of picture text -----

B Analysis of changes in net debt

Analysis of changes in net debt
Cash at bank and in hand
Total cash and cash equivalents		 At 1
July 2023
£		 Movement
in year
£		 At 30 June
2024
£
1,596,393
1,596,393		 (346,057)
(346,057)		 1,250,336
1,250,336

Juvenile Diabetes Research Foundation Limited 24

Principal accounting policies 30 June 2024

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 2024.

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 directors 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;

Juvenile Diabetes Research Foundation Limited 25

Principal accounting policies 30 June 2024

Assessment of going concern

The directors have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The directors have made this assessment with respect to a period of one year from the date of approval of these financial statements.

The directors 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 directors 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.

Juvenile Diabetes Research Foundation Limited 26

Principal accounting policies 30 June 2024

Income recognition (continued)

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.

Revenue grants are credited to the statement of financial activities when received or receivable whichever is earlier.

Where 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.

Juvenile Diabetes Research Foundation Limited 27

Principal accounting policies 30 June 2024

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 global research department. 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.

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

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. The amortisation rate used for Software development is 5 years (20%).

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 and short term deposits

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. Short term deposits represent accounts with a maturity of more than three months from 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

Juvenile Diabetes Research Foundation Limited 28

Principal accounting policies 30 June 2024

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.

Pension scheme

Breakthrough T1D 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 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 2024

1 Income from donations and legacies

Unrestricted
funds
£		 Restricted
funds
£		 Total
funds
2024
£		 Unrestricted
funds
£		 Restricted
funds
£		 Total
funds
2023
£
Donations
Legacies
Third party fundraising
Total		 1,657,815
96,938
405,652
2,160,405		 1,080,620
1,080,620		 2,738,435
96,938
405,652
3,241,025		 1,757,943
258,743
361,830
2,378,516		 849,914
849,914		 2,607,857
258,743
361,830
3,228,430

2 Income from trading activities

Unrestricted
funds
£		 Restricted
funds
£		 Total
funds
2024
£		 Unrestricted
funds
£		 Restricted
funds
£		 Total
funds
2023
£
One Walk
Running and challenge
events
Corporate sponsorship,
advertising and merchandise
Events and other fundraising
activities
Rental/other income
Total		 130,130
1,078,438
424,164
782,669
91,744
2,507,145		 130,130
1,078,438
424,164
782,669
91,744
2,507,145		 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

3 Income from charitable activities

----- Start of picture text -----
2024 2023
Total Total
Restricted Restricted
£ £
Research Grants
The Steve Morgan Foundation - Barrett Trial 341,250 144,264
The Steve Morgan Foundation - Grand Challenge establishment costs 206,451 119,925
The Spectacle Makers Grant 10,000
The Cadogan Charity 50,000
The Elizabeth & Prince Zaiger Trust 10,000 10,000
The R S Macdonald Charitable Trust 10,000
Nimar Charitable Trust 10,000
Lindsays LLP 5,000
THE Thriplow Charity 5,000
De Laslow Foundation 5,000
THE Inman Charity 5,000
Donations £5,000 or less 1,073 2,339
588,774 346,528
Support and awareness
Digital, Culture, Media and Sport (Community Match Challenge) 375,000
Steve Morgan Foundaton 124,576
HollyHock Charity 95,144
Nelsons Charitable Trust 10,000
Coldstones Charitable Trust 15,000
Michael Lewis Foundation 11,500 6,754
Turcan Connell 7,500
The Hugh Fraser Foundation 7,500
Morrisons Foundation 5,000
Grocers Charity 5,000
Michael Pardoe 36,540
Donations £5,000 or less 18,500 8,500
267,220 459,294
Total 855,993 805,822
----- End of picture text -----

Juvenile Diabetes Research Foundation Limited 30

Notes to the financial statements 30 June 2024

4 Total expenditure

Total expenditure
Unrestricted
funds
£		 Restricted
funds
£		 Total
funds
2024
£		 Unrestricted
funds
£		 Restricted
funds
£		 Total
funds
2023
£
Costs of raising funds
Charitable activities
. Research funding
. Research advocacy
. Support and awareness
Total		 2,491,395
1,145,153
529,172
709,562
4,875,282		 108,818
1,230,704
30,228
719,710
2,089,460		 2,600,213
2,375,857
559,400
1,429,272
6,964,742		 2,109,379
1,107,267
356,150
958,586
4,531,382		 124,864
1,002,575
155,448
349,044
1,631,931		 2,234,243
2,109,842
511,598
1,307,630
6,163,313
Note Cost of
raising
funds
£		 Research
funding
£		 Research
advocacy
£		 Support
and
awareness
£		 Governance
costs
£		 Support
costs
£		 2024
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
(including rebrand)
Research grants
unrestricted
5
Research grants
restricted
5
Support costs
Governance costs
Total expenditure 2024		 1,232,469
29,893
100,056
120,041
63,914
309,831
141,877
5,731
168,391		 328,436
1,304
15,691
15,317
8,859		 342,364
7,609
28,327
27,987
15,820		 614,396
8,689
30,867
35,366
18,984		 119,879
476
2,170
3,282
1,898		 426,375
72,403
47,849
47,044
47,620
27,212		 3,063,919
120,374
224,960
249,037
47,620
136,687
309,831
141,877
5,731
168,391
625,830 625,830
7,549
682,937
1,201,705		 18,397 465,972 15,400
4,081		 100,273 15,400
4,081
25,946
566,245
682,937
1,201,705
2,172,203
359,233
68,777		 2,261,798
95,731
18,328		 440,504
99,790
19,105		 1,174,274
214,022
40,976		 147,186
(147,186)		 768,776
(768,776)		 6,964,742
2,600,213 2,375,857 559,399 1,429,272 6,964,742

Juvenile Diabetes Research Foundation Limited 31

Notes to the financial statements 30 June 2024

4 Total expenditure (continued)

Note Cost of
raising
funds
£		 Research
funding
£		 Research
advocacy
£		 Support
and
awareness
£		 Governance
costs
£		 Support
costs
£		 2023
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 2023		 1,006,524
95,396
101,302
105,885
68,101
227,350
546
178,116
7,374
83,646		 283,713
9,850
14,749
13,401
9,440		 300,366
15,598
25,589
24,541
16,857		 526,578
65,152
22,263
31,169
20,228		 103,294
1,065
2,252
2,871
2,023		 379,583
85,468
45,932
41,153
39,066
28,993		 2,600,058
272,529
212,087
219,020
39,066
145,642
227,350
546
178,116
7,374
83,646
497,032 497,032
8,194
701,640
967,380		 21,215 453,898 17,949
7,604		 17,949
7,604
29,409
453,898
701,640
967,380
1,874,240
294,845
65,158		 2,008,367
83,109
18,366		 404,166
87,988
19,444		 1,119,288
154,253
34,089		 137,058
(137,058)		 620,195
(620,195)		 6,163,313
2,234,243 2,109,842 511,598 1,307,630 6,163,313

Juvenile Diabetes Research Foundation Limited 32

Notes to the financial statements 30 June 2024

5 Research grants

----- Start of picture text -----
2024 2023
Un Un
Restricted restricted Total Restricted restricted Total
Principal investigator £ £ £ £ £ £
Cardiff University Colin Dayan
Microneedle arrays to deliver antigen specific immunotherapy 100,000 100,000 174,463 174,463
Cardiff University Colin Dayan
Clinical Trials in the Type 1 Diabetes UK Immunotherapy Consortium:
Bigger, Smarter, Faster 12,024 12,024
Cardiff University Colin Dayan
The beta-2 score and beyond: new composite outcomes measures of
islet cell function for use in clinical trials 89,245 89,245
Queen's University Belfast Emma Berry
My T1D Care Tool: Co-Creating a digital psychosocial measure for
young people living with Type 1 Diabetes as part of routine healthcare
management 44,945 44,945
The University of Edinburgh Helen Colhoun
Using Deep Learning on Retinal Images to Predict Complications and
Therapeutic responses in Type 1 Diabetes 52,459 52,459
University of Ulster Alexander Miras
Harnessing the glucose lowering actions of alpha-melanocyte
stimulatory hormone as a potential new adjunctive therapy for people
with type 1 diabetes mellitus 100,905 100,905
University of Cambridge Kourosh Saeb-Parsy
Biological Signature of Diabetes Mellitus 20,000 120,160 140,160
Helmholtz Munich Matthias Hebrok
Immune-cloaking strategies for protection of stem cell derived beta
cells in the human relevant pig model 100,000 100,000
The University of Edinburgh Shareen Forbes
Macrophages To Promote The Long-Term Function Of Islets
Following Transplantation For Type 1 Diabetes. 98,166 98,166
University of Exeter Matthew Johnson
Unlocking the translational potential of extreme forms of autoimmune
diabetes by uncovering heterogeneous mechanisms of beta-cell
autoimmunity 47,478 47,478
University of Dundee Ify Mordi
Sotagliflozin in Patients with Heart Failure Symptoms and Type 1
Diabetes (SOPHIST) 43,972 102,254 146,226
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 45,193 55,427 100,620 50,033 50,033
King's College London Gavin Bewick
Exploring the translational potential of the NPY Y4 receptor for treating
Type 1 Diabetes 82,014 63,109 145,123 212,172 161,139 373,311
University of Oxford Paul Johnson
Human Islets For Basic Research- Oxford JDRF Human Islet
Resource Centre 50,503 50,503 25,016 26,103 51,119
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
King's College London Timothy Tree
Harmonizing biomarkers in clinical trials of ustekinumab 53,333 5,839 59,172 20,122 57,848 77,970
University of Bristol Anna Long
Adult onset Type 1 Diabetes: Slow Progressors or Late Starters?
Uinversity of Edinburgh (Connect Immune Research award) Yannick Crow
Precision type I interferon biomarkers for the stratification of
autoimmune disease
Paul Weightman
University of Exeter Potter
Modulation of brain fatty acid oxidation to improve hypoglycemia
counterregulation 14,701 14,701
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
Subtotal 742,071 559,656 1,301,727 359,290 532,503 891,793
----- End of picture text -----

Juvenile Diabetes Research Foundation Limited 33

Notes to the financial statements 30 June 2024

5 Research grants (continued)

----- Start of picture text -----
2024 2023
Un Un
Restricted restricted Total Restricted restricted Total
Principal investigator £ £ £ £ £ £
Bought forward total 742,071 559,656 1,301,727 359,290 532,503 891,793
Julie Cawley / Rocio
Sancho
PEG-Based Hydrogels for iPSCs-Derived Regenerative Therapies
for Diabetes 9,692 9,692 13,706 13,706 27,412
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
Development of 4 antibody multiplex assays for type 1 diabetes
screening Alex Ritcher 25,204 67,907 93,111 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
Mixed Methods study exploring the impact of hybrid closed loop
systems on patient recorded outcomes in people with type 1 diabetes
and their partners 3,240 3,240
PI / UNIBRIST - 1 RPG 2020 0001 50% expenditure Jun 21(DUK)
JDRF T1D Fund 196,936 196,936 301,532 301,532
Lea Milligan / Leslie
MQ Foundation - Emory University Johnson
Adapting and testing an integrated care model for treatment of Type
1 diabetes and mental health co- morbidities 3,214 32,143 35,357 12,857 12,857
SMF Grand Challenge
Treg-sparing co-stimulation blockade: testing a novel
immunosuppression strategy in people with Type 1 diabetes Danijela Tatovic 49,497 49,497
Improving Treg immunotherapy success by administering therapy at
different times of day James Pearson 149,966 149,966
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 25,124 25,228 50,352 37,534 37,534
2021 Adjustment to project fund (5,236) (5,236)
1,201,704 682,938 1,884,642 967,380 701,640 1,669,020
----- End of picture text -----

6 Net income (expenditure) before transfers

This is stated after charging:

2024
£		 2023
£
Depreciation
. Audit for current year
. Under-accrual for previous year
Operating lease rentals
. Property		 47,620
557
12,900
2,400
151,379		 39,066
541
12,000
5,949
148,692

Juvenile Diabetes Research Foundation Limited 34

Notes to the financial statements 30 June 2024

2024
£		 2023
£
Salaries and wages
Social security costs
Pension contributions		 2,676,857
265,956
121,106
3,063,919		 2,273,341
228,864
97,853
2,600,058

The average weekly number of employees (on an average head count and a full time equivalent basis) carrying out activities was as follows:

Head count
2024
26.1
29.8
9.0
64.9		 Head count
2023		 FTE
2024		 FTE
2023
Raising funds
Charitable activities
Central support		 21.3
25.6
8.0
54.9		 24.8
28.3
8.6
61.7		 20.1
24.3
7.6
52.0

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 pension contributions) of the key management personnel for the year was £552,771 (2023: £515,814).

----- Start of picture text -----
2024 2023
£ £
----- End of picture text -----

Employee between £110k & £120k
Employee between £100k & £110k
Employee between £90k & £100k
Employee between £70k & £80k
Employee between £60k & £70k		 1
1
2
3		 1
2
3

The pension contributions paid during the year for these employees totalled £31,078 (2023: £25,856).

8 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for available profits to the charity.

Juvenile Diabetes Research Foundation Limited 35

Notes to the financial statements 30 June 2024

9 Tangible fixed assets

----- Start of picture text -----
Leasehold
improve- Computer
ments equipment Total
Group and Charity £ £ £
Cost
At 1 July 2023 108,381 119,545 227,926
Additions in the year 4,915 4,915
At 30 June 2024 108,381 124,460 232,841
Depreciation
At 1 July 2023 97,299 84,551 181,850
Charge for the year 11,080 22,625 33,705
Disposals in the year
At 30 June 2024 108,379 107,176 215,555
Net book value
At 30 June 2024 2 17,284 17,286
At 30 June 2023 11,082 34,994 46,076
----- End of picture text -----

10 Intangible fixed assets

----- Start of picture text -----
Software
development
Group and Charity £
Cost
At 1 July 2023 69,576
Additions in the year
At 30 June 2024 69,576
Depreciation
At 1 July 2023 4,076
Charge for the year 13,915
At 30 June 2024 17,991
Net book value
At 30 June 2024 51,585
At 30 June 2023 65,500
11 Investments
2024 2023
Charity £ £
Investment in unquoted subsidiary undertaking at cost 10,001 10,001
----- End of picture text -----

Juvenile Diabetes Research Foundation Limited 36

Notes to the financial statements 30 June 2024

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 -----
2024 2023
£ £
Turnover 405,756 355,393
Cost of sales
Gross profit 405,756 355,393
Administrative expenses (95,225) (81,931)
Operating profit 310,531 273,462
Taxation
Profit on ordinary activities after taxation 310,531 273,462
Gift aid distribution to parent undertaking (310,531) (273,462)
Movement in retained earnings
----- End of picture text -----

The aggregate of the assets, liabilities and funds was:

2024
£		 2023
£
Assets
Liabilities
Funds		 339,899
(329,898)
10,001		 267,766
(257,765)
10,001

13 Parent undertaking

2024
£		 2023
£
Gross income
Results for theyear		 6,265,170
(604,348)		 5,759,865
(321,516)

14 Debtors

Debtors
Group Charity
2024
£		 2023
£		 2024
£		 2023
£
Trade debtors
Amounts due from subsidiary
Prepayments
Accrued income		 16,907
162,264
343,592		 54,490
235
155,749
171,313		 6,275
145,959
162,029
339,591		 10,564
101,096
155,749
158,813
522,763 381,787 653,854 426,222

Juvenile Diabetes Research Foundation Limited 37

Notes to the financial statements 30 June 2024

15 Creditors: amounts due within one year

Group Group Charity Charity
2024
£		 2023
£		 2024
£		 2023
£
Trade creditors
Taxation and social security
Other creditors
Rent free benefit over lease period
Deferred income
Accrued costs		 176,891
85,282
110,072
3,788
169,139
33,192		 58,567
75,806
106,582
9,138
199,772
45,482		 176,891
70,246
110,072
3,788
33,192		 58,362
65,249
106,582
9,138
53,630
45,482
578,364 495,347 394,189 338,443

Included in deferred income are amounts received in advance for events and sponsorship as set out below:

Group Group Charity Charity
2024
£		 2023
£		 2024
£		 2023
£
Brought forward as at 1 July
Additional income deferred in year
Brought forward funds released in year
Carried forward as at 31 June		 199,772
169,139
(199,772)		 174,088
199,772
(174,088)		 53,630
(53,630)		 7,425
53,630
(7,425)
169,139 199,772 53,630

16 Analysis of net assets between funds

----- Start of picture text -----
Un- Total Un- Total
Restricted restricted funds Restricted restricted funds
funds funds 2024 funds funds 2023
Group £ £ £ £ £ £
Tangible fixed assets 17,286 17,286 46,076 46,076
Intangible assets 51,585 51,585 65,500 65,500
Net current assets 642,319 1,565,102 2,207,421 795,165 1,663,366 2,458,531
Net assets at 30 June 642,319 1,633,973 2,276,292 795,165 1,774,922 2,570,107
Un- Total Un- Total
Restricted restricted funds Restricted restricted funds
funds funds 2024 funds funds 2023
Charity £ £ £ £ £ £
Tangible fixed assets 17,286 17,286 46,076 46,076
Intangible fixed assets 51,585 51,585 65,500 65,500
Investments 10,001 10,001 10,001 10,001
Net current assets 642,319 1,555,101 2,197,420 795,165 1,653,365 2,448,530
Net assets at 30 June 642,319 1,633,973 2,276,292 795,165 1,774,942 2,570,107
----- End of picture text -----

Juvenile Diabetes Research Foundation Limited 38

Notes to the financial statements 30 June 2024

17 Movement in funds

----- Start of picture text -----
At 1 At 30
July June
2023 Income Expenditure 2024
£ £ £ £
Restricted funds
Research funding 273,661 818,699 (1,002,242) 90,118
BT1D International rebrand 116,944 (116,944)
Steve Morgan Foundation Barrett Trial 755 341,250 342,005
Steve Morgan Foundation Grand Challenge 6,328 350,001 (343,012) 13,317
Support and awareness 43,000 309,720 (234,898) 117,822
CMC Funding 471,421 (392,364) 79,057
Total restricted funds 795,165 1,936,614 (2,089,460) 642,319
Unrestricted funds
General funds 1,774,942 4,734,313 (4,875,282) 1,633,973
Total funds 2,570,107 6,670,927 (6,964,742) 2,276,292
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
----- 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 39

Notes to the financial statements 30 June 2024

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: 2024
Land and
buildings
£		 2023
Land and
buildings
£
Less than one year
Between two and five years		 121,246 171,171
122,246
121,246 470,720

19 Related party transactions

Trustee expenses for the year totalled £nil (2023 - none)

Charitable donations received from trustees totalled £14,030 (2023 - £42,969).

There were no other transactions with related parties which required disclosure during the year (2023 - none).

Juvenile Diabetes Research Foundation Limited 40