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||Pages|
|---|---|
|TrustInformation||
|Report of theTrustees|2-6|
|Independent Auditor's Report to theTrustees|7-9|
|Statement of Financial Activities|10|
|Balance Sheet|11|
|Notes to the Financial Statements|12-18|





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|Year|Income|Research Expenditure|
|---|---|---|
|2023|268,423|162,322|
|2024|160,498|159,074|
|2025|281,615|118,387|



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|||||||Total|Total|
|---|---|---|---|---|---|---|---|
|||Unrestricted||Restricted||Funds|Funds|
||Notes||Funds|Funds||2025|2024|
|Incomefrom:||||||||
|Donations and legacies:||||||||
|Donations|||155,613|116,000||271,613|147,189|
|Charitable activities:||||||||
|Fund raising events|||2,615|||2,615|8,062|
|Other trading activities:||||||||
|Sale ofprints, cards and sweatshirts|||584|||584|756|
|Investments|||6,803|||6,803|4,491|
|Totalincome|||165,615|116,000||281,615|160,498|
|Expenditure on:||||||||
|Charitable activities|2||95,612|74,502||170,114|225,974|
|Raisingfunds|3||32,586|||32,586|38,162|
|Total expenditure|||128,198|74,502||202,700|264,136|
|Net income/(expenditure) before gains||||||||
|and losses on investments|||37,417|41 ,498||78,915|(103,638)|
|Realised gains/(losses) on investments|||3,428|||3,428|5,903|
|Unrealised profits/(losses) on investments|||2,903|||2,903|(583)|
|Net income/expenditure for the year|||43,748|41,498||85,246|(98,318)|
|Transfers between funds||||||||
|Netmovement in funds|||43,748|41 ,498||85,246|(98,3 18)|
|Balances brought forward at I May 2024|||258,930|95,487||354,417|E 452,735|
|Balances carried forward at 30 April 2025|11 & 12|E|302,678|E 136,985|E|439,663|E 354,417|





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|||Notes||2025||2024|
|---|---|---|---|---|---|---|
|Fixed Assets|||||||
|TangibleAssets||6||90||330|
|Investments||7||375,015||272,710|
|||||375,105||273,040|
|Current Assets|||||||
|Stock||8||2,191||2,510|
|Debtors||9||2,934||2,514|
|Cash at bank and in hand||||67,757||139,191|
|||||72,882||144,215|
|Creditors: amounts falling due within one year||10||8,324||62,838|
|Net current|assets|||64,558||81,377|
|Net Assets|||E|439,663|E|354,417|
|Unrestricted|Funds||||||
||General fund|11||213,574||153,231|
||Designated funds|11||89,104||105,699|
|||||302,678||258,930|
|RestrictedFunds||12||136,985||95,487|
||||E|439,663|E|354,417|





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|<br>Unrestricted fundsare expendable at the discretion of t|he trustees in furtherance o|fthe objects|ofthecharity|.|
|---|---|---|---|---|
||Unrestricted|Restricted|Total|Total|
|2) Direct Charitable Expenditure|Funds|Funds|2025|2024|
|Grants formedical research to institutions|64,660|53,727|118,387|159,074|
|Costs ofresearch programme|25,002|20,775|45,777|59,085|
|Governance costs (Note4)|5,950||5,950|7,815|
||€95,612|E74,502|El 70,114|E225,974|



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||2025|2024|
|---|---|---|
|University of Newcastle|34,843||
|University ofGlasgow|10,619|43,770|
|Salisbury NHS FoundationTrust|12,000|32,083|
|University College London|18,545|44,181|
|University ofBirmingham|21,481|11,000|
|University of Bath|20,899|28,040|
||118,387|159,074|



||Unrestricted|Unrestricted|Restricted||Total||Total|
|---|---|---|---|---|---|---|---|
|3) Cost ofGenerating Funds||Funds|Funds||2025||2024|
|Promotion and fundraising||13,303|||13,303||12,583|
|Cost of prints, cards and sweatshirts||584|||584||1,579|
|Overheads and governance costs (Note 4)||18,699|||18,699||24,000|
||E|32,586||E|32,586|E|38,162|



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|El ,400) and for ot|her services ofEl ,500 (2024: El ,520).|||
|---|---|---|---|
|||2025|2024|
|Direct charitable expenditure||45,777|59,085|
|Cost ofgeneratingfunds||17,606|22,725|
|Governance costs|- medical research|5,950|7,815|
|Governance costs|- fundraising|1,092|1,275|
|||70,426|90,900|





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|The Foundation employedan average of2 people during the|year (2024: 3)|||
|---|---|---|---|
|Staffcosts|2025||2024|
|Salaries and wages|54,344||72,347|
|Social security costs|133||1,908|
|Pension costs|1,820||458|
||56,297|E|74,713|



|Thetotalremuneration paid to key management personnel in th|e yearwas E60,606 (2024<br>- E65,|994)||
|---|---|---|---|
|6) Tangible Fixed Assets||Office||
|||Equipment|Total|
|Cost||||
|At I May 2024||3,675|3,675|
|Additions||||
|Disposals||(1,330)|(1,330)|
|At 30April 2025||2,345|2,345|
|Depreciation||||
|At 1 May 2024||3,345|3,345|
|Charge for theyear||240|240|
|On Disposals||(1,330)|(1,330)|
|At 30April 2025||2,255|2,255|
|Net Book Value||||
|At 30April 2025||90|90|
|At 30 April 2024||330|330|
|7) Investments||||
|||2025|2024|
|Market value as at 30April 2024||272,710|449,381|
|Additions||207,824|169,273|
|Disposals||(113,544)|(328,693)|
|Revaluation||2,903|(2,675)|
|Increase/(decrease) in cash||5,122|(14,576)|
|Market value as at 30April 2025|E|375,015|E 272,710|
|Historic cost|E|372,688|E 265,299|





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|Investments by market value||2025||2024|
|---|---|---|---|---|
|CharitiesAid UK Equity IncomeUnits Fund B||||9,472|
|Royal Bank ofScotland Deposit account||||3|
|Rathbones Portfolio||210,716||154,032|
|OtherBank Deposits accounts||164,299||109,202|
||E|375,015|E|272,709|
|8) Stock|||||
|||2025||2024|
|Prints||90||152|
|Branded products||2,017||2,244|
|Cards||84||114|
||E|2,191||2,510|
|9) Debtors||2025||2024|
|Prepayments and accrued income||2,934||2,514|
||E|2,934||2,514|



|IO) Creditors: amountsfallingdue within one year|||
|---|---|---|
||2025|2024|
|Grants payable|2,500|29,359|
|Salaries|1,101|2,092|
|Othercreditors|243|449|
|Accruals and deferred income|4,480|30,938|
||8,324|62,838|



|||Balance|||||Balance|
|---|---|---|---|---|---|---|---|
||1|May 2024|Income|Expenditure|Transfers|30|April 2025|
|General fund||El53,231|165,615|(121,867)|16,595||€213,574|
|Designated formedical research||€105,699|||(16,595)||E89,104|
||E|258,930|E 165,615|(E121,867)|E|E|302,678|





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|11.1) Unrestricted Funds<br>- Year ended|30 April 2024|||||
|---|---|---|---|---|---|
||Balance||||Balance|
||1 May 2023|Income|Expenditure|Transfers|30April 2024|
|General fund|248,834|92,498|(191,561)|3,460|E153,231|
|Designatedfor medical research|E109,159|||(3,460)|El05,699|
||E357,993|E92,498|(El 91,561)||258,930|



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|donations and other inco|me held on trust to be applie|d for specifi|c purposes.|||||
|---|---|---|---|---|---|---|---|
|||Balance|||||Balance|
||I|May 2024|Income|Expenditure|Transfers|30|April 2025|
|Medical research||€95,487|116,000|(74,502)||E|136,985|
|12.1) Restricted Funds|- Year ended30 April 2024|||||||
|||Balance|||||Balance|
||I|May 2023|Income|Expenditure|Transfers|30|April 2024|
|Medical research||E94,742|68,000|(67,255)|||€95,487|



|ril 2025 are represented by:|||||
|---|---|---|---|---|
||Unrestricted|Restricted|||
||Funds|Funds||Total|
|Tangible fixed assets|90|||90|
|Fixed asset investments|238,030|136,985||375,015|
|Net current assets / (liabilities)|64,558|||64,558|
|Total net assets|E 302,678|E 136,985|E|439,663|



|ril 2024 are represented by:|||||
|---|---|---|---|---|
||Unrestricted|Restricted|||
||Funds|Funds||Total|
|Tangible fixed assets|330|||330|
|Fixed asset investments|177,223|95,487||272,710|
|Net current assets / (liabilities)|81,377|||81,377|
|Total net assets|E 258,930|95,487|E|354,417|





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|Year end|30|April|2026||226,484|
|---|---|---|---|---|---|
|Year end|30|April|2027||87,240|
|Year end|30|April|2028||32,443|
|Year end|30|April|2029||10,250|
|||||E|356,417|





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|16 ) ComparativeStatement of Financial Act|ivity<br>- Year e|nde|d30 April|20|24|||
|---|---|---|---|---|---|---|---|
||||||||Total|
|||Unrestricted|||Restricted||Funds|
||Notes||Funds||Funds||2024|
|Incomefrom:||||||||
|Donations and legacies:||||||||
|Donations|||79,189||68,000||147,189|
|Charitable activities:||||||||
|Fund raising events|||8,062||||8,062|
|Other trading activities:||||||||
|Sale ofprints, cards and sweatshirts|||756||||756|
|Investments|||4,491|||||
|Total income|||92,498||68,000||160,498|
|Expenditure on:||||||||
|Charitable activities|||158,719||67,255||225,974|
|Raisingfunds|||38,162||||38,162|
|Total expenditure|||196,881||67,255||264,136|
|Net income/(expenditure)before gains||||||||
|and losses on investments|||(104,383)||745||(103,638)|
|Realised profits/(losses) on investments|||5,903||||5,903|
|Unrealised profits/(losses) on investments|||(583)||||(583)|
|Net income/expenditureför the year|||(99,063)||745||(98,318)|
|Transfers between funds||||||||
|Net movement in tUnds|||(99,063)||745||(98,318)|
|Balances brought forward at I May 2023|||357,993||94,742||452,735|
|Balances carried tönvard at 30 April 2024||E|258,930|E|95,487|E|354,417|