REG[￿ERED CONIPANV MJMBER: 02473092 ffnoljnd ind Wales}
REGISTERED CHARITY NUMBER: 32&VS
Report of the Trustees and
i￿anCial ￿￿tementS
for ilie Year Ended 31si fvlarch 2024
for
PLkLLE MOELLER FObTrtDATtON

PALLE f4lOELLER FOUTs1I.4TION
Contents of tlie Financial Statements
ror Ilie year ended 31si M.Irch 2024
Page
Report of the Trustees
Independent ￿2m￿ne1-.5 Report
Stateinent of finJncial slttii?tie5
Btslttnce Sheet
Noles lo ihe Finan¢Aal SiJ¢emails
10 to 16
Detiiled St￿eMent of Fiftancial Actilitirs
17 ￿ 18

PALLE MOELLER FOUND.4TION
Report of ilie Trustees
lor ihe yeir ended 31st Mir¢li 20?4
Tlie ￿￿￿e5 iilio wr also dirccroTS of the chan"Th' for purposcs of thc C(Mnpantes A¢1 ?(X)6. present ￿)cIr report ii'ith
th¥ f￿an(la1 ￿atem￿nts ol cban"Th. fo.. tlL' )Lar ¢ndLd -.lst .March 2024. ThL In￿tti5 haire ado￿¥￿ di¢ pioii5ions of
and Rcwrtiiib b% CliiuiU¥?. SiatL'JneRt of R¥COlI)n)ci)d¢d PrdciiiL dppIiG)bl¥ ID ehanU¢5 prepannb thL'ir
accoutits in ￿ordanc¢ ii'iili the FInwic￿ Rewrtiiio S(ar)dard applirablc in the Uk and Republic of Ireland IFRS I L)?)
Icfteclii'c l Januat?. ?019).
Pallc MncllLr Foitixia(ioii (PMF} I F￿nd8Th0n iieni Ènrn i(¥wcmciit ii.iili Nlocller Foundaibnn Ilgandii Lid to hecnnK (lie
projtsct iinplLmLntsni>
Palln¢r. TIIL auJiLmenl ii"JS LffLCtiIL 01 Apnl ?01-
Under this agr¢L'mL'nL PMF donated Ush5.
26j.j2?.4411 10 iN1oLIILr FovRd31ion U¥andJ Ltd w impleinLThi proj¢¢ts wider the FoUnd￿lOn,$ diffkrcnt sr3iLb¥j¢
obJicli%'iS from April ?Ul
) lo Nlitch ?(1?4.
OBJECTI1￿ AND AcfiviTILS
Objeclives #nd .iims
To &Ji'anc¢ iducauon ot-dK" public in all subJLCLS Ot li.an1iii￿ includillb agricultyrc. medicm¢. ¢rdfts. busin¥SS and tli¢
libcrul.vts bi ouppartino &'id proinottii¥ ¢wllciicc.
To reli¢iii Wl'¢fN li idlin U4Fanda bi" assisiin4T th¢ trulnLrablc. SUPPOnittg wi'L'lly tcltLviniZ aLliI'ilies and iniuatti es
Iflf r¢ ind wiil iixpllbein
I"0 pioiiiot¢ sikiai iiklfarkn bN" supporrtniF all round acrli ill￿5 and liiitiaii￿￿.s thai inlianci IILllness and Pl¥SL'INLs nattir¢.
To pioiiiolL public hvalth througli thL proi'ision of li￿](h those ￿rsOnS ii.lio by virtu¢ of th¢Lr circumstan¢¢s a
in nLYd of such laciliti¢s
To riliilt EKr50ns ii'ho arc suffering hwdship ￿ a resuli of drovJL earthquake. fl(x)ds or other macurdl diwt¢r or
of tliLif 50ci,Il.illd Lcononiic cortditloAS aty in llLYd of.ISSiSlanc¢.
Lnsurinv our iTrork delivers oiir qims
l-'e do rL'v1￿1%. thc Foundation's atm5. objcctiirs ￿1￿ dL(ii i(iLS Lach i-car The I￿kS ui the success of each projcc(
and rli¢ tx'n¢firs rhei lia￿L brourbht to thos¢ oroups of Plople i%¢ Url. Sel IEP (o hLlp. Thi f¥viLii" .￿$0 h¢lps us IO ¢n￿lL. dial
tl).. foundaucrti's airn5. obJLCtiI'cs and acrii'iiiL% rcmaiii focuscd on ils stsicd purposL'. We hai.r consislendi. [cfC￿ed io thc
giiidwic¥ collLiin¥-d in dic Cl1￿1￿ Cominission's gincrnl guJdancL on pub14c ik-ncfits fC¥ikn%4illb thc Fouiidativns
aiii)s and obiecbi¢s and In planning its hjture actsiqDes.
PubltL bcftefil
The Fnundiiion's m.iiii proiccLs i￿1 ii.kn il Incg tth helr ts¢rih¢d F¥lmi. All thr FnUT￿￿IlYl,5 ¢lwiithhlF 4lC!Il'tties
Lmd¥r￿L.lll 10 furthcr its charifable forthc public bbThefit.
Paoc I

P.4LLE NIOELLER FOUND.4TION
Report of ihe Trustees
for ilie ve21. ended 31st %lir¢li 2024
ACHIEvciIicYf,Ih￿ PERf.ORMANCE
ChL?ritable actii'ities
T]us tsmc of As usuJli a momcnt of r¢fl¢ctsoo a￿l¢1p￿￿on aod bopc. Reflcction on the iear b}"
aiiiLCLpaÈithi of 141)aE l)iai" la! alKad ot us. and liope all ii'ill IK itr¥ll ot beller Iliw] lasl i'car_
,l.w)I tliiiigs 2tL' usualli. out of our I￿ndS and lie accept th¢m as thc!. cwi¢. but mam" arL i17th￿ ow hands. to shapc then)
Illlo i%"IiaLI'er dir¢ctson lic dioos¢. Mani. pcopl¢ iouch Iiic5 and our iiorf¢. and s(xn¢tsnies lie fak¢ it for granlcd. Ai
rhis moment iri Tiinc tIJL Foiindirion iiryEIIcg 10 I.￿-¢ tlu5 OPPOrninitt' lo pJi' iribiit¥ to the F(Hinrf.?tion's Tni%tccs' th
Foundauon FoutLd¢rfs Famils. (M￿. Dorothi. Moeller & famil) kts. Lill%. Moelllr). but 2$ ii-¢ll as thL CEOS & MD5
of tl* Gei)crJl Macliknei!. Grotip of Cotnpanies for thc confinued financtal supp)rt and .ouidwKe I￿￿.ardS the actsitiii¢s of
the FoiuidatlOJl Ol"LrtiJnL. Tr T¥usiiYS ha¥L shariyf thLir fLxxlbacL" on th¥" Foundations opetations in fomi of
coinniLndaiions and obscn'ations. iihiLh hai".¥ hLIpLd 10 shaFr its iiotL' bcttcr.
Ji bvl nui IL&%1. dj¢ fouiK1thi￿} li islM' Iv pai. IrtbtslL Iv our ithious PUTtsieis al U￿r￿livi121 level. Ilie Fuundatioi)'s
N,IDJ)ab¥m¢nt L'ommill¢¢ Nlciiibcrs (all iiorknng voluiitanl%') as i%-dl Is IIK Fouiidaijort's SccrciaTr and the entsT
secrLtsrial pui ￿ lottg liours to d¢livcr th¢ wquircd pa￿￿￿"0￿ and ptrxlucts so as ￿ athicit the sci wuiua] plan5
and OVLfdll obj¢¢tsvLS for tli¢ ￿riod. No 00¢ 55 and QVLrall" all the panicipants in this cndeaiouf conu11)￿¢d
n)Iich Iilld¢r inom7nii* pni<siir¢
Fiudier lo th¥ aEoi'L. this is lo r￿lIk[alL th￿ fLX.dback is io In￿.¢ thL Foundaiion'5 Il'ork. beller. and it is not to dislrn¢t the
diffvrLEIt .ierots. To.
i*ethLr. 11¢ can ill2k"¢ OU￿e[lIeS and diL CLxnmuniliL% iiL lil'¥ itk far beu=r diei. aTh' PfC5LlltlI,. IIiL
Foui¥iatsoii ei)dures ￿ liai'c a merirkned 4Y¢m thai ensU￿S that ii'ith PO*ntsat do set stuiited Ju51 i￿Cause
Ih¢i come from ￿Or f,Imilies. that t￿.r￿. is I SiSt¢ni to i(k'nlifr ii.tll"¢b sick Ek'opl¥ cJn be sponsorld for trth1th1eDt ev¥tt if
ILI don't haite a iiell-lo-do ]Elarii'c= and that thLfL' is a ￿'steM ￿{ d¥'cMles on 1101%. lo support ii¢tin?s of nat￿[al
F.ducation
This FinaJbcial i'Lar. April ?L123 -march ?0?4. PIMF ha% through its impl¢ni¢nling paffnrr IMFU). cty)finiied 10 support
Is ot LdI5i3L￿n includi11￿ Prilli￿.. k"Ciindat?". VooitioruL'Lrnary' &id Uni¥ctsit4" Thc
Poundatson paid school tCv"5 for a lotal ot. 4? ￿dents ttom th"ttif¥J)t Icamin¢p instiDJtsons. IThi5 Is an in¢Tcmcni of 14
studciits compared tt) I￿[ Icar lihc￿ ?¥ srudents iierL' 5UPPOrt¢d P,IIF supported 18 wdciits Piimm. Icirl. 16
(hi SLwndan l¢v¥l and 8 th the T¢rtiuThiUni%tis&ti. LeTrel. iiJMl¢r thJ"s charili obi¢ciiv¢. 2) gir15 and 17 Lx)1s II¢T¢
411PW11ed ti'ith tuilinn fel
The FouiidJfion partl)" fijiided thc corjslructioii of a rcsource ccntre for thc phssicalli. l)andicapkxd chEldrLiI throu¥h the
ch¢￿'nIn￿ Aiumtii Associatioo. .4 contnbutson of Llghs i.(>￿.(KKl li'a5 Made ioivaids constrnciing a cl&ssroMI bliKk and
a l.Ilrine Sthiclurc at Mama & Papa Pan)u5ia Edu¢atr(Ml Ccntre iii Buivenge. Jrnja Disiricr.
Social Welfare
&icial K¥l¥lfaiL through SLlPI)0rtI￿ r(￿nd actii"its¢s and injtsatii'es that etthJnce iVL'IiDes5 and pr¢￿rv¢ natti￿ is OD¢ of
thc co¥c objcciii'es of the Fouiidauon. Sevcrdl organiLitions hai'e rcceivol finaTJ¢Ral coniributsons wid support in this
¢l)ai?lablL arta_ Ainoii*i flieii) JAiIIuuc-.
al Hibli Lci"Ll ChildCar￿ Ctsntr￿ in Ig'Jnga Di51rict". Tht"s focuxd on conslrnaiiio a bonholc at thc cL'iiI￿ io suppl!. dcan
and Saf￿ iirat¢r to communtry. Thi"$ projict IMpa￿¢d coiiimiinsl), of 1,2(K) Fyile iilx) usa io on wicl¢an
iiatcr from pond5. U511s 7.86Q.OIy) coniributcd for this Pu￿￿¢
bl l Lil'¢ Again u￿￿￿a In Gulu= Ihis )in￿d at gii-ino liope (o th¢ lictims of li.ar in Nomliern ULwanda througIi ￿$tOratiOn
¢i¢rLIL'S und io en￿￿[?￿￿ those th-
-1. sen'¢ lo lil'e a lif¢ of PUIPOSL. Ushs i.000.OUO witributed froni tIiL
Foui)d.itson ro Iielp in feeding Uic i'icums of commer¢iol sci Iv0￿ thrO￿h tood PrD￿lon and &iniLm' ioii'el distnbulTon
10 fomier seN iiDrkcfE Furthcmiore. Ushs 2.IJOO:000 conrEibutcd ioivards repainng four bcirttholcs in Pa]abek
RefiJbf¢L SLtIlLm¥ni In Laniiio Districi iihich iMpa￿lL.￿ o%'er iO.O¢J(I rifiJ&*ces.
Pagc )

P.4LLE NIOCLLER FOU1%￿.IT10N
Report of the Trustees
for tlie year ended ilst March 2024
Ll ti411¢I1%7%' 2 Nljssion Glolk￿ Nlini5triLS IA Lirn Distiia.. Thc oroaniLition sou.h( support for a fiLdin& Jn
'ocatioiiai skills trJiniii
pro£JrJm In Lirn disfrici. Tlie FourKknion doroicd Uslis i.000.0(￿ ioii?rds the cause ￿ld
impactLYI thL LirypeiLd tYn¥ficianLS li ith <kn115 in liquid w. baJ"r 54)ampoo. Jyusttble menstruai pad5 making and th¢
diiLloptn¥ni of otiiLr 5killb for sus￿nab￿. livllvb
coinn)uniD'
"wd items liki nwzL' tt(yJr and Ixans ii¢r¢ d(Jwia to th¢ i&rgiekd
d) Jcsus Cares For All iii Wak'iso Di5(ricl.' The orphan3gL sought support from the Fouiidation io ¥nablL ￿lL￿)I ro drtll atid
L()nslrucl a ho￿}￿rI[e in proi'id¥ cl¢a.n and Eafe ii'.Ilcr In oi'.cr i.onn r¢opl¢. The Foundaiioi) donaicd Ushs l) ()on.ni
tollii rds drillingj a Eorelloli.,W￿ thL pwjecl ii"a5 complLicd and commissionL.d w¢ccssfiilli'.
Health Illedial Initiatives
Thi5 is a cor¥ vaiue cl)atitablc aKa under rfie Ftxiiidaiton's obie¢tii-e io adbWI￿ tbe lutdi suitus of irKlividu31s *id
¢oiiiiiiiinitiLS in U'gyandi. llIL FouiidaLton donated .¢Jl¥iousli" io diff¢rrrt( optraiii&itions io impleiiiLnl i'arioiis activiti¢s.
Iii¥ludill,. Ui¥ Lons(Fuitsvn of lulth faiilLti¢J. traisiin&i In niaktngp Iru5abl¢ Ill¥iibtrual pads" Atjd a iilLdiLal Laiiip lo pft>i'idL
IIEaimeiit wid iesong toi diseases to the tth"di' c(Hnmun5tscs u) Uganda and In parnculat Kampala Distnct.
kwil￿NIU￿.onO Distiicl. Bui'iga bland-4lpiy Dis#ri¢L CO￿1b? DEStsiQ ar.d llu1?￿lSa-RU￿i3u Distria. Thi5 finan¢1
ILar. thr Foll￿￿2￿0￿ coniribth¥d a total sum of USI￿.. 41 j81.808 ￿1.1￿JS fvlfillmg this obJ¢ccii'¢ and a to￿ of 8.40J
ople ben¢fiied in this endea￿oUr.
Poverty Alleviation
Tliis fin3nciai l'ear. th¢ Foiind2tion C(xllrib￿ed a ioLIt sum of L.sbs.' 4$ 9M toiiatds the fulldm¢nt of objcctsi'e. Th
differeni Parti￿75h1p5 ii"crL undenaken il'l￿? diffcrijll org13njsations. and Lliis POSiUi'¢li' impxicd oi.er fom" thou&wid
PLoiilb ft(Kn diff¢r¢nl Lonimiiiiiti¥s
Prottiotion of spoit5
Pronioiion of Sports is a kc> issue UTr deN'elopm¢ni of communitscs This is throusli the Promotion of thienl aJ¥J io instil
Ivve fvi ¥)thli alllotlb ille ¥liiJLtlbal. loudi ￿t￿ Lld¢Ll%. PiwlF U￿15. ? 496.GOO itsii.aid> yutLIIJsiiio ) Sri> vr
)ccL'r.ie￿￿'s and Ushs". 576.IIOU loii.ards brandLnE thc soccer Jcz5cis_ On 141101?0?). the proJecL haided oi.¢r th¢ kits ai
die . Suubi Ilillage In Di
.-1! b*=fit 6Q athl¢&" 81..
FINANCIAL RFIIIF.IV
Fingncial positio
Tlirri ivLrL 5lITnificani In¢K"￿' in don3Eions of 37ry /010 l" ?5 2U¥ from 299.
Toial L.KrKndiDJri' in¢r¢ased bi. 26Q,'. ftojn L$4,i41 to £68.79) in the l'ear und¢r rL'VILII".
Reserves policy
T])e i".￿Ue of Èh¢ Endoiim¥iil Fund nLWnta￿ed ai klU5.84i as the trou11d￿jQn ￿110. These ttujds thoufth iNert.
'idiliLld bi Central BJJth' of Uwda iihin thc matn IMnk. Mer(aniilL. Credii BattL. ￿d. th¢n being used bi" th
found?tiui ll'eiii into liquidclLIOJ).
Goino toncern
'Ihb Lhanp. d¥SPlt¢ its r¢s¥rv¥S Ix'ing iyithhcld bs. klank of Uganda un(k"r th¢ ￿cen￿l. liquidutcd MLr&iniile Cr¢diT Bank
Lrd. adequat¢ owraLto￿I fjjuds IL coilli￿* 25..
o ¢op£cm for th¢ fore&¢ eabk FJPure.
FUTLIRL PL,INS
Partnerships
To achiei'e the FOur￿lon ¢￿j¢cu1"¢$. Insu￿￿0￿5 and ￿mmuniti.-baScd olgan￿tions arL' alii'ai.s corr01K)￿ed )i"ith. Th¢
Foundatson also ewects to nurlure eKisling pJrthersl)Ips as ii'ell as bring on bou￿ n￿V orKs to ciiliaicc sen'icc dclii"cry'.
Capiial Deb'elopments
ThL Foiiiid2Lioii ￿ p12ns lo rLdei'elop ILS Nio plii'siGIl PTOPCrtics ui kampala CIN Hoii"ei'er_ diis is still at plannii?g
l¢v¢l. OnLe funds mobi1lLJlion lor iiie piaoo¢u redi"VLiiipmLnt is aLi]iLVLW t¥)¢ rowiuaiiL>ll ¢.XPiits' mor¢ uKwin¢ attd thus
b¢ Jblc to moi'L lo a mor¥ SLlf*ust3ining pK)siuon

P.4LLE IIOELLER FOUND.4TION
Report o( the Trusiees
for ihe ytir ended 31si Marth 2024
STRUCTbRE. GOVERN'ANCE IIND NLIN,IGENIENT
Governing document
ThL cliarits 15 c0nts0ll¢￿ bi. its -overniutJ
umeo( a dLLd of aDd COllSlitUlL7 a lin)irL.d compaDi'. liwi*d bi.
4U&titILL-L. •JS d¢fiJied ￿le Colli￿1¢5 ACI ?(AJ6.
Recruit￿cTrt and .Ippointment of fteiv trustees
TIIL Board ol Trus%eL% is *iUtI)orisL'd 10 Jppoini nLik T￿Ste¢S to fill 1'a&inci￿ arising t]￿OUgh resignation or dcath of a
cusring Tnislee Nlr 111 M. Dali ton Ms. Lilli" H Mocllcr Jcsigned fiorn lI)c￿ pogition5 in ilikn Fou5)datsoii clt thc eJ)d
of die l'ear ?02iQ4. Mr. Michxl Nloellcr li'a% apFK)inlcd durin4)
aflLr the emd of thc i-car 21I2J124.
the )'&v. li,￿.1¢ Mr. Emman￿] Lun)u isas apFYJinted
TOKEN OF APPRECIATION
As thi ¢¢151".13as aliials ￿-￿. PIIF conlinuou% lo i.alue Tts ￿Ts. for the c'*'¢rsupport tou'ards thc Foundation's goals
In thls Lffort. thi Pail¢ NlwllL'r Foundation iiould like ro lushli. apprL'Li*L pann¢ts' cfrfunth.ng the F￿ndationS
IcriN'IIIL5 and tI￿Se includL' fLlatLd partiLs i e. all th¢ cornponics under thc GMACH Group aftd Capricorn AfrT¢a
Trusi-UK ICAT). Th¢ Foundatton a150 appffctates its Twslees for conim¢ndablc steii"ardgh2p And fiiiantial
¢OTJtribuiion to Iis a¢tsi'ili¥S.
Tl)e FouiKlation's lu￿)a9¢￿ith1t Cominill¢¢. Sc¢1¢￿]￿ Te&n Secr¢tJJ!' slw)d con￿11[{¢d al￿1&S111¢ ¢Jir ficld
support tewns and ncThiork" of parttic￿. alli¢5 and n Inpadiiz¥f5 lo continuc to ¢￿tribUIc lo ￿ allei"ia(ion of poirrty wid
liuttian suff¥ring IR thL" us.￿1d￿ ￿0mm￿niti¢$ throuK7h th." promoiort of cducation. sparts. mLdiral. hL"alth. so¢wl and
finaiicid i￿e(lare ser¥icLS SO &$ to build a iiiote equikibie couniTh.. Bcst ii'islies iii die Neil" Y￿r !0?41)-
REFERENCE ANI 'D AD>1 IINISTRATtNT DETAILS
Reftistered Compan}. number
02J7i09? (England atNI IValcs>
Ileoistered ChRritJ' nisnibeT
j2¥ j)
Reo jsiei'td office
l Toiler HousL'
HoddLsdon
H¢rtfordshiT¢
ENII ¥UR
PJgc 4

P.4LLE ￿loELLER fouND.4TION
Report of ihe Trustees
for the yexy ended 31 st Mircli 2024
Trustces
111 M DaI150n (Resis]i¢d (i%i041)024)
Irs Domd)). Moell¢i
,Ms Lill: H i¥l0¢ll￿r (fiLsigined (1S1(Hl-0241
i Nlicha-l Nl(￿.11er IAppointL'd U4i117nu?4)
N.Ir Enini2nu¢l Luinu
.IgtnA£ement Comminee.4ff1irs'.
Thl￿ has tL'L* fK+ ch￿(JeS in thL 3thninistrJtion affairs of thL F(m￿￿￿c￿ forthc icar end¢d J 1st Ma¥eh 2U2).
TIK. Committ￿. coinpris¢d of the fotloii'ing memb¢r5".
Dr Daniel Seruna Iba . Cli.wm)an
Ir Tom Aliiata Adi10
ILniber
IcTr.L.-r
Mr ￿lnt￿th E Jmuoai ¢hii"Lnk'i'i -. M¢fflEK'r
N.li J kauyiiii MiJk¢l*%i TrL4Éiifi r
Nlr %li."hael Nloeller . Nk'mlk'r
Company Secretary
15. Jackie N&n￿rd
Independcnt Examiiier
.4ItLnboqTruylis IAccoullt.Intsl Liniiied
ClikWILILd Critsfi¥d Accoun&u]ts
l Toii¢r House
ToiiLr Cintr¢
HoddLsdon
Hertfordshire
ENI I ¥UR
Aiiditols
Au.nustt]s A55OCiJL-s Ceffjficd Jknbli¢ AccounrJnts
P O. Box 40210 Lampala lu)
Mut2na P12u Suitk AQ & Al ?
Plot 1904 Nunda Road
'thc Compan)'s Au.¢wstus Associaies Certified Public AccounLints liai'e e.Kpressed ilillinsness to COl)finu¢ in
officL in accoidance iiith S¢Llion 16712) of the Companics ACL 21112 of U*a.
Advisei's
Nlcr&iniilc Cridit Bank. Limited
S Old Port iKII Road
PO Bo%6?0
kajiipal& U,.a>i(L)
.Qpproiied bi. 0￿¢r of d)e board of in1￿CeS on ?9th Januan. ?Uli and silvned ui its Ixldf bi".
Miss D MoL.Iler

Independtni Examiner's Report to the Trnstees of
Palle hlrffteller Foundation
Indcpend£iJt QXAniincr's i epoi-l to fhe trustees of Pallc imotller Foiindstion ('the Conipan> )
I rcpon io the ch3nii InisrLX¥ on mi. ¢￿2M￿n￿ll0n ot-diL.1CC04tnis of lh¥ Compani for th¢ en(kd i15[ Marcli 2024.
RespoiisibiliÉies aiid kbasis of i-epoi't
As thc chants"'s tnjslcts of C¢knpan!. (aJMI a]50 dirfors for puws of companv laiv} !Y)u are ffsp)n5ible for
priparaiion ofthL' ac¢oLinLS iii aw0ft[￿r￿ iiith th¥ fknryuifLnLNs of thc Companikns Act 2006 Cth. ?006 ilrl.).
H.1villÉb saij¢fitd mi'5elf thill thL accounls of ihe C'ompJii!- not rcquATh'd io bc a￿li(ed undcr Part 16 of the 20(Kb Act
and .Ir¢ tyligibli for It¥JLpendent e.xaminaliotL I rlporl In ￿SpeCt of ¢uinination of i'our chan"N s accounts as carn¢d
0111 Lind¥r Sect20n 14£ of die Chariti¢s Act 2U I I lih6 ?Ul l Act'l. In carn'ujgp out In%. L￿￿nina￿Oll 1111I"¢ folloili￿ th¥
Directi(R￿ gii'en b!. the Charity. CommissioD under Section 1451)) Ib) of t1￿ ?01 l Aet.
Independeni examiner's statement
I Iw¥'¢ coiiipl¢tLd i)Il" Luiiinalioii. I confinii ti]at 110 I)MIle￿ ill1￿< coillL lo Ini" allention IR cunn¥clion iiiul tlir
c￿￿lIna￿On iiji'jii¢* me Laus¢ lo bclicv¢."
accountiiig records nc￿ kcN in rL"STLfi of th¢ Compan)" 05 ￿quIrL)d b! Section i86 of the ?IXkn Act. OT
thc accounts do not accord ii'ith thny rttords" or
thL a¥COWILS do iiot coii)pli" li It]1 die a¢cowItEn￿ r¢quireincnts of SLLiioll J96 of dic ?006 Aci ot]Jer an}
rcquirkmeni that accounts gtji'e a tru< aJ￿ f￿[ iiyii" iihich Js not a niattLr constdered .t% pin of 2n ItuJep¢ndL'nt
￿￿lmilIa￿OI}. or
thL aiCOLwts hai"e not Ixcn prtspa￿d in accordancL i%"ith the methixts atml principlcs of thL Sthiem¢nt of
RccommLnd¢d Pncti¢c for Jccnunt￿g reportinft ￿. ¢haJiti￿ (applicabl¢ to chanii¢g pr#parrng their .Icwimts
in J¢wrdancc iiith thc Fman¢ul Reportiiig SLwthrd akwlicable in the Uk and Republic of lffland IFRS IU?)).
I liav¢ no con¢¢ms and hatrc come across no matt¢ts in connedion ii.ith thc ¢￿thaT10n to I￿hl¢ll attenti￿ should
iK diiiiii ID diis r¢porf iii order ro cnible a propcr ￿nd¢￿IllS of die xcounts ro be renched.
Mr Dai'id Roftcr Pa(mian
All¢nbotvugihs (Aecounthnisl Lin?il¥d
C'L'niJiL'd Accouniants
l Toii¥r Ho1￿C
ToiiLr C¢nli¢
H¢)(Ide5don
HLrtfordshir
ENI18UR
29di JanuaTh 202)
Pase 6

P.4LLE MOELLER FOUND.4TION
Statement of Fintsnf ial Aftivities
for the ye1r ended 31st Mar¢h 2024
jlli124
To(31
funds
I If)l? J
Totsl
fiind5
Unrkstri
fijnds
ReyFifi
fiJJid
tndoi4ni¥4At
tuiid
INCOTrIE.4ND
ENDOWIN￿%4Ts FROM
D0ft2nons and
25.206
2).206
5.2
44.SQO
To¢21
69.X96
69.896
$1.218
EXPENDITDRE ON
Cljaritable aili%'ilies
SDLial iiutk" aaii'itlLS
Costs iii furthcrarLC¢ of thariTh s
obJcct'S
49.???
49.f22
39.427
OIiicL'
)1 j.4jS
21i.4i)
{8.3) l )
Total
26•.947
?6? 957
40,109
NET
It44COIIIEi I￿￿FENDITURE)
119i.tYTrl }
(19J.U61)
I i.i()¢J
Tr.Insfer5 b£￿tell fuiidb
1108
(2.108)
Net movement in funds
119J.(knl)
2.108
{? 108)
(19i.061)
11.i(v)
RfcoNCII.IATION OF
ruNDS
To￿1 fiti)ds brouslii foni.ard
186.4Cyl
11.612
107.9) I
306.(ii7
294.948
TOTAL FLfNDS CARIUED
FORWARD
j,7*0
10* 84J
112.996
306.0$7
Th. n(rt¢s fonn parE of financiaE ￿l¢mcnts
Pau'¥ 7

P.4LLE MOELLER FOUND.4TION
31st iMar¢h 7024
3117124
Tot31
funds
Jif)Qi
T0121
funds
UnristrictLd
nds
R￿￿riL
fwid
tryloMIiiLrit
fijiid
Nol¢s
rL¥ED ASSETS
.1 ansiiblL &gse(s
liii'csuncnts
i91
71
7i,OSn
7).441
71
71
76.448
CURREp¥f ASSETS
D¥bio
Cash al bonL.
io
8.227
622
16.289
14.SV4
?.V20
ig.070
j.75V
28.876
8.k49
i.7iU
iO.79i
5j.j91
241.090
CREDITORS
.4mounts f￿[in￿ il.ith￿ onc
{li411¥1
{l_i.9nx )
(114AI)
ASSETSIILIABILA TIES)
17.Oi9)
JO.74)j
37.484
229.609
TOT.4L ASSITS LESS
CURRENT LbiBILITAES
(6.i971
13.7iO
lQ5.843
112.996
NET ASSUS
(6.i97)
IOi.84)
112.996
i06.Oi7
FIFND,S
Unr¥5tii¢tcd fithds
RLStrtClLd fijnds
Endthi"mLrtt fi￿dS
12
{CJ i97}
186.4fA
11.64?
1079il
TOTAL FUNDS
112.991>
306.0$7
'11￿ cliantsblc ￿niPanI. is cnuded io e.iYJnptioH fyom audit un¢kr Secnoft 477 of thc C'omparues Aa ?UIMJ for iur
cith ilsi NLuc]] ?024.
The. memb¢ts hiiV¢ DLX ￿qll1[¢d the compan!. lo obiain an aiidit of its finincial yat¢nients for ihe )¥ar ¢nd¢d
i 1st Mar¢h *112J in 3Ciordanw' iiith &"ction 476 of thL Companiis Ail 2006.
Tl)e trnsiees ￿kn￿l"[ed￿C w5[￿1b￿l￿eS for
(a)
¥nsw)iig that ￿. charitablL CLBiipan} kLfP5 accounting r¢cord5 thai comply ii.ith Seaions 386 alld J87 of the
CA>mpJni&% .4cL 2nllC) and
prepaniift
financial staicments iihicli nive 1 tn]c Jid tw"r Vi￿￿. of the Sthic of afFait% of the chirithble compan!. as
a( thc CIMI of ¢a¢li filL￿Cl.￿l )tar and of its sU￿lUS or (kficit for ea¢h fiiiwicial l'ear in accordancc iiith thc
requi￿rncnts of SLCti(KES )94 and 39$ and i%bicb othenvI￿ ¢￿p[l. li ith the tcquiieinenls of the CLxnpantes Acr
20()6 r¢latsi]g to finan¢ial 5tstemcnts. so far a5 applicabk io chan'tsbk. ¢ompanv.
Ib)
Thi. not¥s fomi pan of thLx financial Sts¢¥mcnts
P,Igi 8
continu¢d...

PALLE MOELLER FOUND.4TION
Balin¢e Sheet- rontinued
315t il.larch 2024
Tli¥5L fijiancid S￿l¢M￿nts hav¢ tLYn prwLd An aCco￿￿￿e i￿1th ilL' provisions ap￿￿Cable ￿ clwithbl¥ comp3fties
5ubj¥cI to Éh¥ small cThnpaniLs regim¥.
fuwial qtst¢mints ii'ere app￿li.d b), ￿. Beard of T￿￿e¢S a[rtI￿[￿￿'d for is$￿. tjn 29th Januan. 20?.5 IiLr¢
M L m￿-I￿r- TnLsre¢
TEK. notes fomi part of financial SNll¢mLnts

P.4LLE MOELLER FOUIND.4TION
Nutes (o tlie Fin#n¢i21 Siafements
foy the ye3r ended 31st March 2024
SI'ATUS ofr "fHE ACCOUN'TINfG ENTIn'
Thc Found2tson is TeLtist¢rtd in United kingdom undcr th¥ Charitses ALt 19(A) ajjd in Uganda as a forciw)
compaK]N" l￿d¢[ Scfjtion 2) l of tkn- c￿lI9a[11Ls A¥1 2U12. Thl lLS15tL'r￿ nu[ni￿r of Found￿10n is 2473092
and th¢ r¥?¢7iStcred offici address is l Toii¢r House. Toiler Centre. Hodd¢5don. HertfordshirL EN I18UR.
ThL' Fourtdjtion is also reg1st￿￿ in Ugartda as a Non￿0%,L'MmL￿tsJ Oryanisation un(k.r thb Non￿O￿.￿MM¢n1aI
Op.ianJ5&iliDll R¢Lvi5tsations Siatui Iy8CI
ACCOUNTTING POLICILS
B21sis of preparintw the finaDcial ￿ateMentS
Thi fiT)flJliial statÈlilen(i of clhuitable iOI)Ipani. iiliiili is a publii Ixnefii ¢ntil) Un￿-r FR% 1112. liai'¢
prlparcd in accordancL' ilith C'hariliks SORP IFIiS 10?) 'AccounDngi and RcwrtiiiE bi. CbaritiLS Sta*m¥nl of
R¢coLninendL'd Pr3Ctic¢ applicable io thaTits¥s Pfipann.. th¢ir accounts in accor(knnc¢ ii'ifli thL FinaRGi
Riporun,, SLindard applicablc in the Uk atKI R¢public of IrL'laTrd (FRS IU2) leffLCliv¢ l Januar). 211151,,
Financial RerKJrfiiis .Siwidard In2 Tr Fin4incial RLpomng SfaD(knrd 4ipplicahlc in ilie IIK and Rc]xiblic of
Iiiland, ￿ld tsie Compyuis .4ct ?01)6. The finJicial ￿alements havc ￿cn prepared wider dic historical Cost
coni ennoi) i?ioditicd such thar frehold land and buildm(s a￿. stated ai valuaiioii and on an accwal basis.
Inconie
Reli￿5 in¢ome Jid bank in1er￿1 a￿ rcctygniscd ivl)cn receiithlc. Donations arc recognised onl!" iTrhcn Ycc£ii"gJ.
E.¥penditsre
l.Il¢ bilittcs 2tr. rcc.ngniscd as CNPknndifut¢ *15 500D ￿ the￿ is a IvJal or constwaii'e oblisTatiOli committi.yg ttL
cl)anTr' to t]wr expLnditt]rr. il 15 probable a t[￿5f￿r of ccot)oThu¢ iKncfiLS 11.ill ie4uiitd iii ￿(lI¢s￿LI1L and
tIK' aiiiounl of ihc ohligi¢ iinn ¢an he lilCLEU￿d rcllably FNreiidifyrL 18 ¢1ccnuniud for nn in a¢cnyiils ha<18 lind Iki
n clwi ified uiidLr 1ILadiugs I[￿t LTrQlE￿dt￿ all COJI ¥<lated ￿ tlii calcgor). Wher¥ Coats &winot bc directl
attnbuiLd ￿ P&uliciilar h¢&lin1¥5 thei. lia&L Im'n aJl(utcd io aaiwffi¥S ¢Jn a b￿[$ collsistrnt iiith thc us¢ of
r¢sour¢es.
Tafiffjble fixed 1ssets
Depreci￿1017 is prOl'idL￿ ai ihe folloming annual r2tL£ in order to ivrite off eath asset oi'er egtimal¢d ￿￿6a1
life
Freehold pn)PL"rt)'
Lon￿ lewhold
rfjiliJrcs and firtin
4 /0 on rL￿￿¢1￿0 balw]¢e
Oi'Lr the period of the lease
TJx&tion
chatil!, i5 ¢NLnipi from cotpotation laN on its diarttsbl¥ activili￿.
Fiind ac<ounting
Unresiricted fvnds used in xcordwKc iiidi the djaritsblc objecuves at ih¢ discretion of die tmsi¢es.
Restn"cted fijnds onli. vscd ftir p1￿Cular Tcstsirf￿ pUry￿s iiithin tbc objects of th¢ ¢harii)'. Restnction5
Rs¢ ii,IK'n specifrLd b%. th¢ donoror iih¥n fund5 are ra￿d for poiticular restriad pu￿￿$.
'lliL Endoiim)eiit Fund rLT&rewis donan￿lS b!. the tounder iNthich nia!. be used onl}. to g¢ncra(c inconie. but ma!.
01 bc C%￿nded on the auivioes of thc FouThJ￿0￿.
Hire purth#se 2nd leasing commitments
PicnLils paid undcr QP&ratsny I￿￿Sc5 arE char8¢d io thc S￿emen1 of Financi￿, Aaiiitics on a sttainlii linc basis
over Ilie pcn4)d of tiiL I￿.
contsnued...

P.4LLE MOELLER FOUYD.4TION
Notes to the Financi21 stite￿ents- fontintsed
Cor the ytai- ended 31st MJr¢li 2024
ACC0UN'TI￿'G VOLILIES- tontiRucd
Foreign currency transactions
Th¢ liitotTr£ 4nd E￿￿1¢di￿r¢ A£wwil s&ryrL"d thi11￿￿5 is ￿￿￿7[cd inw P￿lld Sicrlii?o at an ai'craoc
rJtC a5 folloii's'.-
Ushs.
4.911
Ushs.
4.680
I Pound Sr¢rlii)n
T]1¢ s'eJr ctid cichange raw5 io o)n4tn all Stskmcnt of Financi￿ P05iuon itcns fo!loii-:
?Ir:n4
U5hs.
4.911
Usks.
4.680
I Pouiid Sicrlin4
IN￿EsTMENT INCOME
illJ124
jllJl!-
Reiits rccciN'ed
tk"ptssil account int¢r¢
i.i(K)
i.Ili5
44,6911
4.i.91
ET INCOMFJ{LXPENDITURE)
N5Lt Inc￿ML.,(LxpCQd￿tur￿) is St￿Ld aftknr ¢ha￿1n￿(C￿dlr1rt¢1
i IlJf14
Audiiors, rilTiurtL'Taiioii
DL'p￿.claiIon - oiii)L"d a
HirL' of pl.Ini artd Tnachincry.
OUK"r opcraliiig l¢as¢
j?6
Yi6
977
i42
1.9$9
TRIISTEES, RLNIUNER4TION AND BENEFITS
IIIcrb Thcre no tntsiccs. r￿mune￿10n or other ￿.nefits for )'car etxlcd ) 1st Marcli ?0?4 iior for the l'ear ended
) 1st fvlar¢h 211?-
Tru5tees' expenses
iiere no trl￿Ce¥ exp¥￿￿5 EKud for the >'&ir end¢d ?Ist March 2024 nor for th¥ )"&ir cnded
J 1st hiirch 2023.
Pa￿e 11
¢OTJiiliUCd .

P.4LLE IfOELLER FOUND.4TJON'
Notes (o the Financial Sialements- continued
lor tlie ytzr ended 315f M?rch 2024
STAfiF COSTS
The atr¢rJg¢ nionuili. iiumbcrof ¢mploie¢s duriiig d)c I'thyil'as as folioii's:
i If)124
iif)n_3
SLcfiLyial ￿ld adtnTlllStrJtsvc 5eTrices
No emplolees recciied cimoluments iii excess of £60.IJ)O.
CO%IPAIL4TI￿￿s FOR THE ST.4TEhlENT OF Flh'ANCIAL ACllVITIES
Unrcstrlc￿d
ReyiictLII
fu￿15
ruiid
EndoiiTnLnl
luii
Total
rund5
Ir4COME .4ND ENDOWPvlEprfs FROM
Do¢kiiions and legacies
5299
i299
Iniicson¢ni incoine
4).919
4).919
Total
51.218
EXPENDITURE OI
Charitablt artiiities
3().427
9.033
)1).4?7
9.oii
Costs ￿ £urthernnC￿ of Ch￿5￿ s obic£¢s
Otlier
(8.)il )
{8.3511
Total
40.109
NET INCOhlE
Transfers betweett fuuds
1.4(Kl
11.400}
Nel movement in funds
11.109
1.4(K)
(1.4110)
I i.i(Jg
RECO￿,elL1ATXO,￿, OF fL,￿'Ds
TorJl fiinds btOti,.lit foThi'ard
17$ ji5
10.242
IOQ.3i I
294.948
TOTAL FUYDS CARRIED FORWARD
186.4(A
11.64?
107,9$1
iOfj.057
rA)nui)ued...

PALLE MOELLCR FOUND.4TION
'otes to the Financial Stttten)ents- fontinued
for the yeai. ended 31st Marcli 2024
TAIN'GIBLE FIIED ASSETS
FiKwres
Fr£Lhold
OP¥li
L￿]s
iLJS¥'lJold
At Isi April 702) and i Mardi 2024
71.780
1)1.560
DEPRECI.4TION
At Isi April 2112)
Charge for N"ear
17.9$2
27. IU(?
184
12)
At i15t m.yeh lu? I
18.Ci¥4
?7.290
14)
46.119
NbT BOOK VALLIE
Ai i Isi imarch
30.7611
44.-')U
191
75.441
Ai .•lsi Ma￿h 2022
44.674
7C)_i77
lrycl.,dpd itr. rcsw
deprccia(cd.
is !rLeho!A l.nd of £1 8.6A. ! ()O)-
¢1 S.XAI) ii,hi¢h is Moi
"Llic rcmajning lease of 10 }'Lw5 for Plot i Kits￿le Road has becn surrcndcred in c￿change for a reneiial of
"¢ars ii'ith eftect trom l ju￿ ?01¥..r￿. r¢mainin* lif¥ ()fr ihe Irt*. ai ) l Mitrh ?11?4 is thcErforc j'rars.
FIXED ASSET INIIESThlEfiTS
Listcd
invesknents
M.4RKET VALUE
71
TfTDnnK Illi Tlf
Ai i Isr M￿Ch 2U24
71
Ai J Isi March 202J
71
IlifL' no inv￿1MLI)I &5cts oursi¢k thc Uk.
io.
DEBTORS: ,INlOUiK'i"s r,iLLIP4G DUE IVITHI.Y ONE YEAR
31jjj?4
3113123
IIad¢ d¢,￿0[$
Ti
6i2
24J16
2.0?0
linu¢d...

PALLE MOELLER Fouf4D.4TtON
Note5 to the Finantt41 Statements- Tonlinutd
for the ye.Ir ended 31st Mar¢li 2024
CRCDITORS: ,INIOUI'TS r.iLLI,N'G DUC II'ITHlJl' O.YE I￿AR
illi124
3 li￿2￿
i(I.077
1.454
AcL[lIL￿ iiTK'n5L
-2(M)
11.4SI
12.
MOIIEMENT IN FuN￿s
N¢t
moTrem¢nt
in fiJiid5
At
i IlJ124
At 114f2i
funds
Iliii-eyricted funds
General fund
186.464
(19i.0611
{6,597)
Rtslrirletl funds
'% a145alivlt iLiiid
.2
2,1V-,
li.7iO
E￿d0)YM￿.l funds
Endoivmcnc Fund
107.951
12.108)
TOTAL FlITrlDS
i06.lli7
1193.U61 J
112.996
Nci mov¢n)ent In tiind5. Included ￿ the Jbovc as toiloii.
IiiL¥)tniiis
resoiirces
Res(MJrce5
pciided
i oveineiii
It) fvnds
Unrt51rirted funds
()6? 047)
IlQi.061)
TOTAL FUNDS
69.$lJ6
{?62:gi7}
{19i.(knl I
Panc 14
corjliiiucd...

PALLE MOELLER FOUN'D.4TION
N￿eS lo the Financial Sialements- continued
loi- the ye.?r ended 315t Marcli 2024
12.
IOIIEN1ENT IJY fuNDS- £ontinucd
Comparatsves for movement in funds
Ncl
Transfc
6ctt%L¢n
nds
Inoi'cmL'ni
iii fjjnds
Ai
i11312?
Ai 11411?
Lnie5tricted CuBds
GL TrLtai fjjiid
17iJi5
11.109
1¥6.464
Re5tri¢led fund5
11.CA2
Endoii'meiit Fuiid
{1.400)
l D7.gi I
TOTAL FiJTr4DS
?94.948
11.109
C'omparnuve moiicnieni In knnds. in¢ludcd In t1￿ aboi'c as tollthis..
An￿￿￿1￿& R¢xwrv
I￿oI1rcu
in fiinds
Unre51rirted funLIs
Gepcr&l ￿li?d
(40.109)
TOTAL FUNDS
il ?_Ill
(411 IOYI
11.109
A ciirr¥nt lear 12 Jnonths and priorltar 12 nionths combined position is as folk)M5'.
Transf-
moiemeni
iji fui)ds
Ai
i113124
Ai 114rii
Unre51ricted fund5
GenerJ fiL-
(181 aj21
(6.5n?)
Resfrirled fiinds
ReN'alu3tion KSL'n'¢ fund
10.?42
li,740
Endoilinent fund5
EndoiiTh¢ni Fund
09.iil
%osi
I OTAL rLiyDS
?Q4.948
(181.y52j
112.9i% 6
coiitinved...

PALLE MOELLER FOLIND.4TION
liotes lo the Fin,Inrial Siatements- rontinued
for the year ended 31st M.?rcli 2024
12.
]¥qOVEMENT IN fuNDS- tontinuod
A current i"¢Jr I I months aThl prior Irar l? Mon￿7$ combined net mov¢m¢DI in fiumjs. included in the at¥)i*c are
as fiilloiis.
Inconiing Rcsouwtts
¢Np¢n(kd
Moveme
in fimds
Uni-esirifted fiinds
GLiicd fiJNJ
1?1.114
(JOi.0661
{181.95))
AL fL~'DS
Il¥1 l)):)
13.
RELATED PARTY DISCLOSIIRES
Thcrc ii'ere no Tllaicd part)" tran5actsons for the lear Cndl￿ 3 fvlarch 2024.
PLTRPOSES OF FUNDS
Geiieral Fund
71IL gE1]c1￿ fiujd is Ill￿￿$￿}¢1cd a￿£ can b¢ uscd in accnrd)ne¢ iiith t1￿ clwitg)Ic objects￿.￿$ at thc discrtrtion of
thc trustees
RtstriLled Ftsii
Rcsrrici¢d fiiiids .Ir¢ dOn￿¢d for i particuliu Plifj)osc ma! noi be ￿￿d for an% ￿ll¢r pury)o* iiryilM)ul
rnission fro,- *.- donc-,
EndoivTr.eni Fll￿d
The indoiiineiii fund [Lyr￿ents donatsms bi. the founder iihith mav used onh" io gen¢rnt¢ inc￿1￿. bui mav
noi be ¢￿￿nded on thc actiiitses of thc Found￿10￿.
EVE,YTS AFTER THE END OF THE REPORTlI4lG PERIOD
On l 8th Junc ?U24, NIer&￿ill¢ L"tEdii Bank" IAd {NICBL) i%as placcd into liquid3tson bi. th¢ Ccntsal BanL.
As a ri￿11 of MCBL'S clowc. -some of ￿- funds held at Mcrcantslc Crcdit Bank arc at risk of kiiig
irriCOI"crJblc. TIIL b)]￿Cl. sheet -.jsr March ?U74 rLflects thc loss of fithds.
Paoc 16

P.4LLE IIOELLER FOI ND.4TIO
Detailed Statement of Financial AcliN'ities
for the )'ear ended 3151 %1orch 2024
311JD4
3113123
INCO.ME AND ENDOM'MENTS
DonAlions and legacies
tk)naiions
25.?06
5.299
Inb'e5tment income
Renis received
Deposit accouni interesi
42.884
3,035
3.300
44.690
45.919
Total incoming resources
69.896
51.218
E.XPE￿DITL RE
C'haTiIRble Aciib'ilies
ages
Raies and Kvater
P051agie and siaiionery
Educaiion cosis
Social welfare costs
4Aedical losts
Sports activit), costs
Poi'erty alleviaiion
Project e.xecution e.xpenses
745
54
23.768
1.976
9.807
137
7.791
9.?81
508
.459
8.583
49,52?
39,427
Other
Hire c)f plant and machinery
Rent & rale5
Repairs. niainienance and adminisiration
E.xihange differences
Taxation
Freehold propert!.
Long leasehold
Fixlures and finings
977
1.959
{14.?iOI
585
507
480
732
184
20
20.488
18.3$1)
Support costs
Finance
Bank charges
207
Other
Adinini5lrntion cosis
CaThied fon¥ard
3,65?
3,652
2,-f27
This pa2e does noi fomi part of the statutorv firianeial statements
Page 17

P.ILLE IIOELLER FOI'NDATIOY
Delailed Sialemenl of Fin*neial Aetivttie%
lor the Trear ended 31st March 2024
31131?4
31131?3
Other
Brought forward
Impairment of cash ai bank
Impairnienl of interesl
2,527
184,125
3,300
3,652
189.952
3,652
G￿￿er￿ance cosls
luditors, remuneration
ALcountanc) and professional fees
3?6
2.556
34?
2.882
5.174
Total resources expended
262.957
40.109
{eipenditureVincome
119i.061)
11.109
This page does noi fom) pan of the stalutor) financial sialemenis
Page 18