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← Juvenile Diabetes Research Foundation Limited

2025-06-30-accounts

Juvenile Diabetes Research Foundation Limited

Trading as Breakthrough T1D since October 2024

Annual Report and Financial Statements

30 June 2025

Company Limited by Guarantee Registration Number 02071638 (England and Wales)

Charity Registration Number 295716 (England) and SC040123 (Scotland)

Contents

Reports
Reference and administrative details 1
3
Independent auditor
s report		 20
Financial Statements
Consolidated statement of financial
activities 24
Balance sheets 25
Consolidated statement of cash flows 26
Principal accounting policies 27
Notes to the financial statements 32

Juvenile Diabetes Research Foundation Limited

Reference and administrative details

President Her Majesty The Queen Directors 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) Sarah Johnson Wilson Leech (Vice Chair, retired 30 June 2025) Per Lundin James Lurie (retired 31 December 2024) Nadia Swann Company Secretary Jonathan Taylor Executive management team Chief Executive Karen Addington Director of Fundraising & Engagement Terence Lovell Director of Research Partnerships Rachel Connor Director of Policy and Communications Hilary Nathan Director of Finance and Resources Jonathan Taylor Director of People and Operations Hayley Anderson Registered office 17/18 Angel Gate City Road London EC1V 2PT Telephone T : 020 7713 2030 F : 020 7713 2031 E : info@breakthrought1d.org.uk Website www.breakthrought1d.org.uk Social media https://www.facebook.com/BreakthroughT1DUK https://www.instagram.com/breakthrought1duk/ https://x.com/BT1DUK https://www.linkedin.com/company/breakthrought1duk/ Company registration number 02071638 (England and Wales) Charity registration number 295716 (England and Wales) SC040123 (Scotland)

Juvenile Diabetes Research Foundation Limited 1

Reference and administrative details

National and regional offices Breakthrough T1D Scotland: Aberdeen Office

T: Aberdeen: 01224 248 677 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

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The Directors present their report, together with the audited financial statements of Juvenile Breakthrough T1D), for the year ended 30 June 2025.

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 27 to 31 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.

Our mission in the UK

At 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.

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Chair and CEO Foreword

We are proud to report on a landmark year of impact and innovation at Breakthrough T1D. In Financial Year 2025, we have delivered significant results in type 1 diabetes (T1D) research and played a key role in expanding access to treatments. Stewarded by our bold 10-year strategy unveiled this year, we have driven breakthroughs that make everyday life with T1D better, while advancing towards cures. Thanks to continued generous support from our communities and supporters, income has increased by 20% this year, and mission spend has grown by 29%.

Advancement in key trials funded by Breakthrough T1D has enabled us to take vital steps towards unlocking groundbreaking therapies that could change the course of T1D care and management. The Type 1 Diabetes Grand Challenge granted funding of over £2.7 million to six new projects to develop novel insulins and improve the effectiveness of insulin therapy, which could transform the treatment of T1D. The Grand Challenge also awarded £4 million in funding to three other projects, two of which are looking at slowing the destruction of insulinproducing beta cells and the progression of T1D. The third will be investigating immune cell for existing medicines that can rewrite these signatures to prevent T1D. These landmark research projects were made possible through our work with Grand Challenge partners, the Steve Morgan Foundation and Diabetes UK, and the incredible generosity of Steve and Sally Morgan.

For the past 18 years we have funded and championed the development of hybrid closed loop (HCL) systems and we are delighted that now, more than half of children with type 1 in England are using this life-changing technology. The impact of HCL will be momentous, reducing serious hypo and hyperglycemia episodes. We are especially proud of this milestone but our effort to improve universal access to technology continues. In October 2024, we launched our Access For All report, which builds upon our 2019 Pathway to Choice report, included establishing a national early detection programme for early detection of T1D and increasing awareness of and access to hybrid closed loop systems (HCLs).

We are also proud of how we listen and respond to the needs of people with T1D. We continue to be a hub for the T1D community through our range of nationwide Discovery Day events, recording a strong 4.6/5 satisfaction rate. This year marked the expansion of Coping with Diabetes, a digital tool developed in partnership with social enterprise DigiBete, to help children and young people with T1D manage their mental health. The tool has recorded over 4,834 active users engaging with nearly 97,000 activities.

As ever, we are extremely grateful to our supporters, whose generosity and commitment enable us to make life-changing breakthroughs happen. With their support, we are changing the lives of people with T1D and advancing nearer to our ultimate mission: a world where a cure is not just a possibility but a reality.

Phil Aird-Mash

Karen Addington, MBE

Chair

Chief Executive

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Our FY25 strategy impact

1. Our first year as Breakthrough T1D

In October 2024, JDRF formally became Breakthrough T1D. Our global brand launch The film, featuring Breakthrough T1D supporters and volunteers living with T1D, captures the relentless nature of T1D and envisions the sense of peace a cure could bring to people living with the condition. The film has been shared globally through the Breakthrough T1D international network of affiliate charities, speaking to the universal reality of what it means to live with T1D. The film formed the foundation of our phased brand awareness campaign; phase one (October-December 2024) recorded 1 million organic views in the UK and 1.4 million globally and reached 1.1 million people. Phase two (April-June 2025) saw the relaunch of the film using paid advertising to enhance brand reach, achieving above target audience reach of 5.1 million impressions, 4.4k generated contacts. In early 2025, we commissioned benchmarking market research to assess the growth in awareness and engagement in our brand. The results of this research illuminated the success of our awareness campaign since the launch of the new brand. Of those aware of Breakthrough T1D, 86% would speak positively about our organisation and 96% would advocate for the brand. We also found that there is a strong connection towards our brand amongst T1D audiences, with 85% reporting feeling close to the brand and having a strong understanding of our mission.

We are delighted to have received several awards this year for outstanding impact in diabetes care and support. In July 2024, we were awarded Best Health & Medical Research charity at the annual Charity Awards. In recognition of our campaign and advocacy work on Hybrid Closed Loop (HCL) systems, we were delighted to be awarded Best Health Tech Solution at the Health Tech Awards in July 2024, alongside Diabetes UK and NHS England, and win the Third Sector Big Impact Award with Diabetes UK in September 2024. In spring 2025, we were honou -based film campaign.

In FY25 we continued to increase our national media coverage across print and broadcast media, and this year we made international headlines, featuring on ABC News Media Australia and Global News Canada. We secured news features and interviews with the BBC Guardian, as well as coverage in the Daily Mail, The Sun, The Mirror, and The Daily Express.

Our new name and brand could not be applied to our existing Instagram and Facebook accounts, so we made the decision to close these accounts and launch those channels afresh. Since then, we have rebuilt our social presence from the ground up, creating updated platforms that reflect our new identity and allow us to engage more effectively with our audiences. We are proud to record a strong follower count, standing at 49.2k followers across Facebook, Instagram, LinkedIn and X, with net growth at 14.9k followers.

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2. FY25 Making breakthroughs happen: driving research

2.1 UK delivery of research and partnerships

The Type 1 Diabetes Grand Challenge is a £50 million partnership between Breakthrough T1D UK and Diabetes UK, funded by the Steve Morgan Foundation. It is accelerating research in three key areas: the root causes of type 1 diabetes (T1D), replacing beta cells lost in the immune attack that causes T1D, and developing the next generation of insulins (novel insulins). It is now funding 19 research projects across 47 institutions, with 161 researchers and collaborators working toward a cure. Throughout FY25, six international teams have been working to deliver progress in the ambitious Novel Insulins Innovation Incubator programme. These fresh, new approaches to developing radical new forms of insulin to make managing type 1 diabetes easier and safer will begin to report in their findings in the year ahead, with the most promising projects having the opportunity to apply for further funding through Phase 2 of the programme. This year also saw the first Grand Challenge symposium, held in November 2024, which brought together funded researchers from root causes and beta cells along with people who have lived experience of T1D.

The ELSA Study, co-funded by Breakthrough T1D UK and Diabetes UK, screened more than 26,000 children aged 3 to 13 for early signs of type 1 diabetes, exceeding the 20,000 target. The study uses a simple finger-prick blood test to detect autoantibodies that indicate the autoimmune process that leads to type 1 diabetes. These markers can appear years before symptoms begin. The impact of early detection was demonstrated when two children identified through the ELSA Study became eligible for compassionate use of teplizumab. This drug, recently approved by the MHRA in the UK, can delay the onset of type 1 diabetes at the early stages of the condition by three years on average. The compassionate use of teplizumab was made possible through Breakthrough T1D funding, which covered clinician time and facility costs.

In August 2024, Breakthrough T1D supported the development and publication of the top ten priorities for adults living with T1D in Ireland and the UK. These were developed as part of a James Lind Alliance Priority Setting Partnership, which emphasises a person-centric approach to care and research. This publication will now help guide UK researchers and funders to ensure research priorities are anchored in the needs of people living with the condition.

In November 2024, the MESSAGE (Medical Science Sex and Gender Equity) policy framework was launched in the UK. It aimed to ensure research is designed to consider different sexes and genders in health and care research. Breakthrough T1D contributed to the design and implementation of this framework. The framework has been incorporated into our small grant awards process to ensure that the research we fund benefits everyone affected by T1D.

The Small Grant Awards programme funded four early career UK researchers to run yearlong studies in type 1 diabetes. Two of these focused on developing new interventions, specifically a tool to help manage T1D when exercising, and a new type of dressing to help wounds heal quicker in people with T1D. The other two projects delve into the biology of the pancreas to understand interactions between the different cells found there and how these are involved in T1D, specifically either protecting against immune attack or preventing low blood glucose.

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In August 2024, we co-funded a Research Fellowship in Clinical Diabetes with the Novo Nordisk Research Foundation. This fellowship supports doctors, nurses, midwives and healthcare professionals to undertake research into T1D.

In April 2025, we co-funded our first Daphne Jackson Fellowship. These fellowships support researchers who have taken a career break for at least two years for family, caring or health reasons, and highlight our continued commitment to supporting equality, diversity and inclusivity in the research we fund.

2.2 Breakthrough T1D international delivery of research partnerships

In the last financial year, Breakthrough T1D UK delivered £1.3 million charitable funding to support the Breakthrough T1D global research programme in the UK.

The future of cell-based cures for T1D received a huge boost when Vertex Pharmaceuticals released updates on their ongoing clinical trial with Zimislecel (VX-880): their lab-grown, insulin-producing cells. Twelve people with T1D who experienced very unstable glucose levels and have severe hypoglycaemia unawareness received the full dose of VX-880 and began making insulin in response to glucose within 90 days. They achieved HbA1c levels of below 7% or 53mmol/mol, time in range above 70% and they were no longer experiencing any severe hypos. After 365 days, ten of the twelve participants no longer needed to inject insulin to manage their T1D. Treatment with Zimislecel requires immunosuppression, but marks a huge step forward in demonstrating the potential for lab-grown cell therapies in T1D, building on technology developed by Professor Doug Melton with the support of Breakthrough T1D.

Sana Biotechnologies, supported by Breakthrough T1D through the T1D Fund, released preliminary, six-month data showing that genetically modified islets can survive and produce insulin without immunosuppressive drugs. In collaboration with Uppsala University Hospital, researchers transplanted donor islets modified using hypoimmune (HIP) technology into the arm of a person with T1D. The modified islets continued to function over six months, confirmed by sustained C-peptide levels, a key marker of insulin production. This is the first human evidence that engineered islets can evade the immune system without the need for immunosuppression. Sana now plans to expand trials and explore stem cell-derived islets, which could make this therapy scalable and accessible to many more people. These results mark a major step toward immune-evasive, cell-based cures for T1D.

Results published in Nature Medicine showed that the immunotherapy drug ustekinumab etes. Ustekinumab is an established therapy that is used to treat other autoimmune conditions including severe Breakthrough T1D funding was instrumental in this clinical trial, and enabled blood-based biomarkers to be analysed, providing the link between the action of ustekinumab on the immune system and the ability of the body to produce insulin.

In May 2025, the UK-based Bukhman Foundation pledged £100 million over the next 10 years to advance research and advocacy in T1D. One of the first gifts from this pledge will be allocated to the Breakthrough T1D Barbara Dewey Cammett Center of Excellence in New England, USA, to support innovative research into gene-edited, lab-grown islets.

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3. FY25 Bringing breakthroughs to the community: accelerating access to treatments

endations include increasing awareness and access of hybrid closed loop systems (HCLs), establishing a national early detection programme for early detection of T1D, and raising awareness of clinical trials to help the development of future treatments.

In February 2025, the All-Party Parliamentary Group (APPG) for diabetes was re-established. The APPG is a collaborative forum for diabetes charities, researchers and experts to progress discussions and actions around policy, research, and treatment of diabetes with parliamentarians. The APPG is chaired by Tom Gordon MP, a former Breakthrough T1D member of staff, with the secretariat provided jointly by Breakthrough T1D and Diabetes UK.

2025 reporting on market research commissioned by Breakthrough T1D into the experiences, hopes and fears of people living with T1D over the age of 45. Findings revealed that this demographic is anxious about their future and felt unsupported by a health and social care system that is unprepared to deal with the challenges of ageing with T1D. The report puts forward recommendations for inpatient care, menopause care, and domiciliary and residential care. Working closely with NHS England, Breakthrough T1D has developed a project to help

In FY25, we were instrumental in the NICE tech appraisal for teplizumab, an immunotherapy which has been found to delay the onset of T1D symptoms in individuals at the early stages of developing the condition by an average of three years. Breakthrough T1D played a significant role in shaping the scope of the appraisal, a final decision from NICE on teplizumab is expected in November 2025.

4. FY25 Bringing breakthroughs to the community: living well

We have continued our partnership with the diabetes social enterprise DigiBete to support the emotional wellbeing of young people living with T1D. Coping with Diabetes uses real-life stories, animations and interactive activities to help reduce and prevent diabetes distress and burnout. The early intervention tool helps frame thinking around diabetes, supporting people to develop resilience to cope with all the daily challenges that type 1 brings. This year marked -14 years to up to 25 years, and involves parents through broader information and support resources. Engagement has been strong: users have explored 147,274 events and viewed 96,937 activities via the Coping with Diabetes Button, with 4,834 active users averaging 20.9 visits each.

Survey feedback from young people aged 14 to 25 highlighted the positive impact the tool has had. 100% of respondents rated the resources as high quality, 87% found the materials helpful, and 94% believed the tool would support them or others in managing their feelings about diabetes. All respondents said they would recommend the tool to friends, and the dedicated 16 ~~2~~ 5s module received an outstanding rating of 4.7 out of 5. As we move into Phase 3, we remain focused on ensuring that psychological support is accessible, relevant and empowering for every young person living with type 1.

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Our community events programme has grown in reach and impact, rooted in audience needs and shaped by lived experience. A highlight has been focusing on socio-economically inclusive locations and partnerships - contributing to reducing health inequalities through tailored resources and more diverse speakers. Our free events continue to play a vital role in bringing people together to share experiences and foster peer support. We hosted fewer events in FY25 (nine compared to 15 in FY24), and as a result we achieved a 10% increase in the average number of attendees. These events consistently received high customer satisfaction ratings, averaging 4.6 out of 5.

Our resources for newly diagnosed families and adults affected by type 1 diabetes have been distributed widely, with an estimated reach of over 7,000 individuals through family-focused materials and 3,000 individuals through adult-focused resources. In addition to these, we offer a range of support materials for those further along in their T1D journey. These physical resources have reached 2,500 individuals, and our digital resources have been downloaded 3,000 times, reflecting continued demand and strong engagement.

5. Looking forward our 10-year strategy

In the Spring of 2025 we launched our 10-year strategy, which sets out a clear and ambitious plan to accelerate progress towards cures and improve lives. The strategy is built around three core goals: making breakthroughs happen, bringing breakthroughs to the community, and deepening engagement and support to enable breakthroughs. Our shared international commitment to advance treatments for T1D remains a cornerstone of the global Breakthrough T1D agenda, alongside our affiliates across the world. Our goals ground how people living with type 1 diabetes will be at the centre of everything we do, ensuring that research, innovation and support are shaped by their needs and experiences. This strategy provides a focused framework for long-term impact and meaningful change.

Making breakthroughs happen: global research

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

Making breakthroughs happen: UK research

In FY26 our work through the Type 1 Diabetes Grand Challenge will continue to accelerate research and new treatment development, with a UK-wide Type 1 Diabetes Cell Therapy Clinical Trials Network announced at the start of the financial year. In December 2025, the second symposium will be held in London to bring together funded researchers and people with lived experience of T1D. A second co-funded MRC Clinical Research Training Fellowship is scheduled to start in Autumn 2025, and the ELSA study will continue to screen children for the autoantibodies associated with type 1 diabetes.

Bringing breakthroughs to the community: Access to treatments

We were delighted that the Medicines and Healthcare products Regulatory Agency (MHRA) licensed teplizumab for use in the UK in August 2025. We will be working to secure NICE approval for teplizumab to be used on the NHS, a final decision is expected later this autumn.

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We will continue our work to increase access to HCL systems across the four nations and to secure an early detection of T1D pilot programme by working with parliamentarians, researchers and health services. We will deliver a series of parliamentary roundtables through the APPG to further progress in health policy and treatment for people living with T1D.

Bringing breakthroughs to the community: Living well

We will continue to deliver relevant and high-quality information and support to more and more people living with and affected by T1D across the UK. We will deliver targeted content geared toward raising awareness around T1D technology, such as HCL, and information on interrelated topics, such as ageing well with T1D. We will also re-develop our book for adults and schools to better meet evolving needs.

Our new role in the Aviation Accessibility Task and Finish Group strengthens advocacy for easier travel with T1D, with recommendations set to inform the final government report later in 2025.

In continuing collaboration with strategic partners and the NHS, we are focusing on hosting events in more inclusive locations, increasing the number of lived experience talks and panels, and broadening the diversity of speakers

Deepening engagement and support to enable breakthroughs: reaching the T1D community

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

Deepening engagement and support to enable breakthroughs: raising vital funds

We will continue to 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 dedicated supporter experiences and journeys.

FY25 was a year of significant breakthroughs. As we look ahead to next year, we remain committed to driving progress and deepening impact in research development and innovative, curative therapies, which advances possibilities in type 1 care and a better quality of life for all those living with type 1 diabetes.

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FY25 FINANCIAL REVIEW

Summary

With income growing by £1.3m to £8m, FY25 was a further successive year of the highest income Breakthrough T1D has ever achieved. Income was supported by generous levels of funding for the Type 1 Diabetes Grand Challenge as this moved into its first full year of operation, with further income growth expected in the coming year.

While income grew by 20%, funds spent on charitable purposes grew by 29%. Our research funding, again very significantly bolstered by the Grand Challenge, grew by an impressive 46% to £4.3m. Total charitable spending grew to £5.6m this year from £4.4m last year.

As discussed below, with an unexpected downturn in income experienced in the last few months of the financial year, we were not able to achieve our free reserves target for the year. Our financial recovery plan for FY26 is detailed in the same section below.

Income generation

Income of £8m grew by 20% on the previous year (FY24: £6.7m). Income during FY25 from the Type 1 Diabetes Grand Challenge programme of £2.7m constituted 34% of our total income. Along with many other charities, our voluntary income in the Spring of 2025 was lower than forecast. The reduced income was a mixture of lower fundraising event receipts, and delays experienced with a number of high value gifts and contracts. While these delays had a negative impact on our year end FY25 figures, our FY26 income will be higher as a result, and is expected to recover significantly from FY25 levels.

Charitable Expenditure

Making Breakthroughs Happen research funding grew by £1.4m (46%) to £4.3m. UK and global research achievements during the year are described on pages six to seven. Breakthrough T1D's support and awareness costs, part of our Bringing Breakthroughs to the Community mission activity, were £1.3m (FY24: £1.4m). Details of the activities and achievements of our work in these areas are described on pages eight to nine, including 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 FY25, and a higher staff complement, the cost of raising funds grew to £2.7m (FY24: £2.6m).

JDRF Trading Limited

These accounts consolidate the income, costs, assets and liabilities of JDRF Trading Limited (name not yet changed) 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 in note 12 to the following accounts. Following income grew further by 6% to £428,959 (FY24: £405,756), with operating profit for the year

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(gift aided in full to Breakthrough T1D) growing to £315,981 (FY24: £310,531).

Balance sheet for the charitable group

Cash and short-term deposits at 30 June 2025 totalled £1.8m (FY24: £2.3m). 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 £718,162 (FY24: £522,763), of which £379,095 related to accrued income (FY24: £343,592). Of the total year end debtors figure, 98% had been received by November, and the outstanding balance is not considered at risk. Creditors were £645,645 (FY24: £587,364).

Funds

Restricted funds grew during FY25 from £642,317 to £977,890. The growth, as shown in note 17, relates to Grand Challenge funds received but not spent within the year. The great majority of funds held at the year end will be spent on charitable objectives during FY26.

Unrestricted funds dropped from £1.6m to £1m. The impact of this change on Breakthrough

FY26 and beyond

and research impact will continue be transformed next year by greater research commitments under the Grand Challenge programme. We also expect both our restricted and unrestricted fundraised income to grow by a good margin, driving our charitable impact for people with type 1. While total income will increase, the majority of the growth expected will be in respect of Grand Challenge funding, which will be fully accounted for by onward research grants and related new activity costs.

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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 approved research programme taking place in the UK. Each month 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, financial projections and our reserves policy allow.

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 £363,000 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 FY25 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://breakthrought1d.org.uk/how-tohelp/give/donate/our-supporter-promise/. During the year we received two suppression requests from the Fundraising Preference Service which were resolved in line with Fundraising Preference Service rules and our own internal procedures.

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Further fundraising regulation

We are registered with the Fundraising Regulator and adhere to its code of Fundraising Practice. Breakthrough T1D is also 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 FY25, we received eight complaints about our fundraising activities, none of which were related to intrusion of privacy, unreasonable persistence or pressure to give. All complaints were resolved satisfactorily, with none being referred to external regulatory bodies.

Protecting Vulnerable Supporters

Our supporters are at the heart of everything we do, and we understand that protecting those that may be in vulnerable positions is crucial for safe and effective fundraising. Our external fundraisers receive training in recognising vulnerable people. We take steps to ensure our 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.

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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 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 aggregates these to establish high and low points for cash balances during the year and year end free reserve levels. Based on the FY26 budget, the policy gives rise to an end FY25 minimum free reserves target of £1m. Actual free reserves (unrestricted funds minus fixed assets) of £0.91m were £90K (9%) below the target. Free reserves were budgeted to drop to £1.2m, but as noted above the unexpected reduction in income experienced between March and June meant that we were not able to reduce costs sufficiently to return to the budgeted position. Breakthrough T1D has adopted a financial recovery plan for FY26 with the aim of returning to our minimum policy target by the end of the year to the fullest extent that this is within our power.

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.

Out of a possible total risk score of 25, Breakthrough T1D currently has no red risks (risk score 15+) and four amber risks (risk score 9-12). The Type 1 Diabetes Grand Challenge programme brings complexity and potential risk in several areas, though with significant mitigations in place. Dedicated funding for some mission activities from corporate partners brings potential perception risk, and corporate contracting processes bring complexity. Decision making and onward contracting in relation to these activities is contingent on the receipt of funds, and reviewed regularly.

A further 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. Finally, it is possible that Breakthrough T1D will not achieve its FY26 financial recovery goal of meeting its end of year free reserves target. This could have an impact on donor confidence, would result in a higher emphasis on cashflow management, and influence future planning and budgeting. Scenario planning within the recovery plan indicates a low risk of falling below the target by anything other than a minimal amount, it at all.

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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 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 on wider matters of interest.

The Succession and Development Committee (made up of at least two 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. Three new Directors were recruited during FY25, and formally joined the Board in October 2025.

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.

Appointment of Directors

Recruitment campaigns are conducted as needed and all potential Directors of Breakthrough T1D go through a rigorous meeting, selection and 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 16

Year ended 30 June 2025

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 1.

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 Events, Research Partnerships, Content, Marketing, and HR & Operations. Two hundred people with lived experience of type 1 are on our Insight and Experience Panel. We have shared around 50 opportunities with the Insight and Experience Panel, with opportunities ranging from reviewing our information resources; to shaping research documents and taking part in research projects; to sharing their lived experience of T1D via surveys, focus groups, and case studies.

General Volunteers and Youth Ambassadors have supported us at our own events and at third-party fundraising events. Some Youth Ambassadors joined a focus group with Dexcom about T1D technology and participated in a National Paediatric Diabetes Audit communications project with the Royal College of Paediatrics and Child Health. A group of Youth Ambassadors are working on a research engagement event project with Dr James Pearson, one of our Steve Morgan Foundation-funded researchers. For this project, the Youth Ambassadors meet online once a month to plan and deliver an event to engage young people in research. The group members are designing what the event will look like, have been DUKPC. This is a small sample of the ways in which in FY25 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.

Juvenile Diabetes Research Foundation Limited 17

Year ended 30 June 2025

We are very grateful for every one of our dedicated volunteers.

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 18

Year ended 30 June 2025

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 2025 was 6. The Directors have no beneficial interest in the company but as members are entitled to voting rights.

AUDITORS

Buzzacott Audit LLP was reappointed auditor by the Board for the year ended 30 June 2026 and has expressed its willingness to act in that capacity.

Approved by the Directors on 8 December 2025 and signed on their behalf by

Chair

Juvenile Diabetes Research Foundation Limited 19

report 30 June 2025

Juvenile Diabetes Research

Foundation Limited

Opinion

We have audited the financial statements of Juvenile Diabetes Research Foundation Limited for the year ended 30 June 2025 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 Reporting Standard applicable in the UK and Republic of (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 responsibilities 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 Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on of at least twelve months from when the financial statements are authorised for issue.

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

Juvenile Diabetes Research Foundation Limited 20

report 30 June 2025

Other information

The directors are responsible for the other information. The other information comprises the information included in the directors report other than the financial statements and our her 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 21

report 30 June 2025

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 22

report 30 June 2025

Auditor’s responsibilities for the audit of the financial statements (continued) To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

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 on the

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 Audit LLP, Statutory Auditor 130 Wood Street London EC2V 6DL

22 December 2025

Buzzacott Audit LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

Juvenile Diabetes Research Foundation Limited 23

Consolidated statement of financial activities Year to 30 June 2025

Income and expenditure
Notes
Un-
restricted
funds
£		 Restricted
funds
£		 Total
funds
2025
£		 Un-
restricted
funds
£		 Restricted
funds
£		 Total
funds
2024
£
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 2024
Total funds carried forward
at 30 June 2025
17
2,206,883

2,160,856
52,437
 714,731
2,836,082
45,100		 2,921,614
2,160,856
52,437
2,836,082
45,100		 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
4,420,176 3,595,913 8,016,089 4,734,313 1,936,614 6,670,927
2,644,263
760,604
591,307		 82,394
2,922,937
21,904		 2,726,657
3,683,541
613,211		 2,491,395
1,145,153
529,172		 108,818
1,230,704
30,228		 2,600,213
2,375,857
559,400
1,351,911 2,944,841 4,296,752 1,674,325 1,260,932 2,935,257
1,104,373 233,106 1,337,479 709,562 719,710 1,429,272
2,456,284 3,177,947 5,634,231 2,383,887 1,980,642 4,364,529

5,100,547		 3,260,341 8,360,888 4,875,282 2,089,460 6,964,742

(680,371)
1,633,973		 335,572
642,319		 (344,799)
2,276,292		 (140,969)
1,774,942		 (152,846)
795,165		 (293,815)
2,570,107

953,602		 977,891 1,931,493 1,633,973 642,319 2,276,292

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 24

Balance sheets 30 June 2025

Notes Group Group Charity Charity
2025
£		 2024
£		 2025
£		 2024
£
ed assets
ngible assets
9
angible assets
10
estments
11
rrent assets
btors
14
ort term deposits
sh at bank and in hand
bilities
ditors: amounts falling due
hin one year
15
t current assets
tal net assets
16
e funds of the charity:
nds and reserves
17
stricted funds
restricted funds
eneral funds
6,272

37,670
 17,286
51,585		 6,272
37,670
10,001		 17,286
51,585
10,001
43,942 68,871 53,943 78,872

718,162
1,055,120
759,913		 522,763
1,012,686
1,250,336		 768,052
1,055,120
387,558		 653,854
1,012,686
925,069
2,533,195 2,785,785 2,210,730 2,591,609

645,644		 578,364 333,180 394,189
1,887,551 2,207,421 1,877,550 2,197,420

1,931,493		 2,276,292 1,931,493 2,276,292

977,891
953,602		 642,319
1,633,973		 977,891
953,602		 642,319
1,633,973
1,931,493 2,276,292 1,931,493 2,276,292

Approved by the directors on 8 December 2025 and signed on their behalf by:

Chair Treasurer

Company Registration Number: 02071638 (England and Wales)

Juvenile Diabetes Research Foundation Limited 25

Consolidated statement of cash flows 30 June 2025

Notes 2025
£		 2024
£
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 2024
B
Cash and cash equivalents at 30 June 2025
B		 (492,027) (363,443)
44,037
(42,433)		 59,289
(4,915)
(36,988)
1,604 17,386
(490,423)
1,250,336		 (346,057)
1,596,393
759,913 1,250,336

Notes to the statement of cash flows for the year to 30 June 2025

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

----- Start of picture text -----
2025 2024
£ £
Net movement in funds (as per the statement of financial activities) (344,799) (293,815)
Adjustments for:
Depreciation and amortisation charge 20,672 47,620
Disposals 4,257
Interest receivable (52,437) (66,763)
(Increase) decrease in debtors (187,000) (133,502)
Increase (decrease) in creditors 67,280 83,017
Net cash (used in) provided by operating activities (492,027) (363,443)
----- End of picture text -----

B Analysis of changes in net debt

Analysis of changes in net debt
At 1
July 2024
£		 Movement
in year
£		 At 30 June
2025
£
Cash at bank and in hand
Total cash and cash equivalents		 1,250,336
1,250,336		 (490,423)
(490,423)		 759,913
759,913

Juvenile Diabetes Research Foundation Limited 26

Principal accounting policies 30 June 2025

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 2025.

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 27

Principal accounting policies 30 June 2025

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 28

Principal accounting policies 30 June 2025

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 unconditional entitlement to grants receivable is dependent upon fulfilment of conditions within the charity's control, the incoming resources are recognised when there is sufficient evidence that conditions will be met. Where there is uncertainty as to whether the charity can meet such conditions the incoming resource is deferred.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Resources expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis.

Expenditure is allocated to a particular activity where the cost relates directly to that activity. Expenditure includes attributable VAT which cannot be recovered. The cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central functions, is apportioned on the basis of an estimate, based on staff time, of the amount attributable to each activity.

Premises and office costs are allocated based on the amount of floor space attributable to each activity, except for regional offices which are split 75% cost of generating funds, 5% research advocacy and 20% support and awareness.

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs

The costs of raising funds relate to the costs incurred by the group in raising funds for the charitable work.

Juvenile Diabetes Research Foundation Limited 29

Principal accounting policies 30 June 2025

Resources expended (continued)

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

Juvenile Diabetes Research Foundation Limited 30

Principal accounting policies 30 June 2025

Creditors and provisions (continued)

and provisions are recognised at the amount the charity anticipates it will pay to settle the debt.

Leases

Rentals payable under operating leases, where substantially all the risks and rewards of ownership remain with the lessor, are charged to the statement of financial activities over the life of the lease using the straight line basis.

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 years and 7% after 4 years additionally sacrifice up to 10% of gross salary to their pension. The charitable company has no liability under the scheme other than for the payment of these contributions.

Fund accounting

Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria is identified to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the directors for particular purposes.

Foreign exchange

Balance sheet assets/liabilities in foreign currencies are translated at the prevailing exchange rate at the balance sheet date. Transactions are translated at the transaction date exchange rate. Any exchange rate differences arising are credited or charged to the statement of financial activities.

Financial instruments

The charity only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the charity and their measurement basis are as follows:

Financial assets Other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank Classified as a basic financial instrument and is measured at face value.

Financial liabilities accruals and other creditors are financial instruments, and are measured at amortised cost.

Juvenile Diabetes Research Foundation Limited 31

Notes to the financial statements 30 June 2025

1 Income from donations and legacies

Unrestricted
funds
£		 Restricted
funds
£		 Total
funds
2025
£		 Unrestricted
funds
£		 Restricted
funds
£		 Total
funds
2024
£
Donations
Legacies
Third party fundraising
Total		 1,702,488
181,202
323,193
2,206,883		 714,731
714,731		 2,417,219
181,202
323,193
2,921,614		 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

2 Income from trading activities

Unrestricted
funds
£		 Restricted
funds
£		 Total
funds
2025
£		 Unrestricted
funds
£		 Restricted
funds
£		 Total
funds
2024
£
One Walk
Running and challenge
events
Corporate sponsorship,
advertising and merchandise
Events and other fundraising
activities
Rental/other income
Total		 198,848
968,643
409,343
504,381
79,641
2,160,856		 198,848
968,643
409,343
504,381
79,641
2,160,856		 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

3 Income from charitable activities

----- Start of picture text -----
2025 2024
Total Total
Restricted Restricted
£ £
Research Grants
The Steve Morgan Foundation - Barrett Trial 341,250
The Steve Morgan Foundation - Grand Challenge establishment costs 2,552,588 206,451
Tarrisse-Murphy Foundation 130,000
Campbell Batchworth Trust 100,000
HollyHock Charity 30,000
The Elizabeth & Prince Zaiger Trust 10,000
Sir Samuel Scott 5,000 10,000
Michael Lewis Foundation 10,000
Lindsays LLP 5,000
THE Thriplow Charity 5,000
De Laslow Foundation 5,000 5,000
THE Inman Charity 5,000
Donations £5,000 or less 3,494 1,073
2,836,082 588,774
Support and awareness
Steve Morgan Foundation 124,576
HollyHock Charity 95,144
Michael Lewis Foundation 11,500
Turcan Connell 7,500
Morrisons Foundation 5,000
Grocers Charity 5,000
Donations £5,000 or less 45,100 18,500
45,100 267,220
Total 2,881,182 855,993
----- End of picture text -----

Juvenile Diabetes Research Foundation Limited 32

Notes to the financial statements 30 June 2025

4 Total expenditure

Total expenditure
Unrestricted
funds
£


Restricted
funds
£		 Total
funds
2025
£		 Unrestricted
funds
£


Restricted
funds
£		 Total
funds
2024
£
Costs of raising funds
Charitable activities
. Research funding
. Research advocacy
. Support and awareness
Total		 2,644,263
760,604
591,307
1,104,373
5,100,547
82,394

2,922,937

21,904

233,106

3,260,341		 2,726,657
3,683,541
613,211
1,337,479
8,360,888		 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
Note Cost of
raising
funds
£		 Research
funding
£		 Research
advocacy
£		 Support
and
awareness
£		 Governance
costs
£		 Support
costs
£		 2025
Total
£
Staff costs
7
Other staffing costs
Office costs
Rent and premises
Depreciation and loss on
disposal of fixed assets
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 2025		 1,273,354
17,657
65,859
83,022
54,131
350,067
50,525
178,388
6,350
240,490		 356,015
1,508
10,357
10,260
7,503		 338,517
4,571
21,115
18,922
13,399		 662,160
5,820
25,002
24,387
16,078		 127,628
550
1,317
2,199
1,608		 482,897
27,213
26,778
31,514
24,928
23,046		 3,240,571
57,319
150,428
170,304
24,928
115,765
350,067
50,525
178,388
6,350
240,490
825,820 825,820
20,658
267,999
2,899,900		 104,528 359,922 16,080
4,606		 102,060 16,080
4,606
125,186
461,982
267,999
2,899,900
2,319,843
335,710
71,104		 3,574,200
89,462
19,879		 501,052
93,256
18,903		 1,093,369
200,008
44,102		 153,988
(153,988)		 718,436
(718,436)		 8,360,888
2,726,657 3,683,541 613,211 1,337,479 8,360,888

Juvenile Diabetes Research Foundation Limited 33

Notes to the financial statements 30 June 2025

4 Total expenditure (continued)

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
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 34

Notes to the financial statements 30 June 2025

5 Research grants

Research grants
Principal investigator
Colin Dayan

Colin Dayan

Colin Dayan


Emma Berry

Helen Colhoun


Alexander Miras
Kourosh Saeb-Parsy

M. Loredana
Marcovecchio

Matthias Hebrok
Tom Wylie

Shareen Forbes


Matthew Johnson

Mandeep Kaur
Marwah


Rebecca Dewhurst-
Trigg

Richard Pulsford

Nicholas Thomas
Joanne Boldison

Paul Weightman
Potter

Chloe Rackham

Ify Mordi

Gavin Bewick
Paul Johnson
Thomas Hill
Shoumo
Bhattacharya
Timothy Tree
Samet Sahin

Daniel Doherty
(MRC)
Kathleen Gillespie
Kathleen Gillespie		 2025 2024
Restricted
£		 Un
restricted
£		 Total
£		 Restricted
£		 Un
restricted
£		 Total
£
Cardiff University
Microneedle arrays to deliver antigen specific immunotherapy
Clinical Trials in the Type 1 Diabetes UK Immunotherapy Consortium:
Bigger, Smarter, Faster
The beta-2 score and beyond: new composite outcomes measures of
islet cell function for use in clinical trials
Queen's University Belfast
My T1D Care Tool: Co-Creating a digital psychosocial measure for
young people living with Type 1 Diabetes as part of routine healthcare
management
The University of Edinburgh
Using Deep Learning on Retinal Images to Predict Complications and
Therapeutic responses in Type 1 Diabetes
University of Ulster
Harnessing the glucose lowering actions of alpha-melanocyte
stimulatory hormone as a potential new adjunctive therapy for people
with type 1 diabetes mellitus
University of Cambridge
Biological Signature of Diabetes Mellitus
Home-based measures of beta-cell function and CGM metrics to
predict progression of pre-symptomatic individuals
Helmholtz Munich
Immune-cloaking strategies for protection of stem cell derived beta
cells in the human relevant pig model
Imperial College London
impact to stratify risk (RELOAD)
The University of Edinburgh
Macrophages To Promote The Long-Term Function Of Islets
Following Transplantation For Type 1 Diabetes.
University of Exeter
Unlocking the translational potential of extreme forms of autoimmune
diabetes by uncovering heterogeneous mechanisms of beta-cell
autoimmunity
Novel dermal dressing loaded with a hydrogen sulphide donor for
faster diabetic wound healing
Border Patrol: Exploring the islet-protective role of mesenchymal
stromal cell-secreted products to defend against immune cell invasion
in Type 1 diabetes
GlucoseCo: Co-developing a simple reference heatmap for predicting
hypoglycemia risk during exercise for people with type 1 diabetes
Determining the impact of C-peptide testing in possible type 1
diabetes
From pancreas to periphery: A study of B-cells
Modulation of brain fatty acid oxidation to improve hypoglycemia
counterregulation
Exploring an islet-protective role for native pancreatic mesenchymal
stromal cells in health and in type 1 diabetes
University of Dundee
Sotagliflozin in Patients with Heart Failure Symptoms and Type 1
Diabetes (SOPHIST)
King's College London
Exploring the translational potential of the NPY Y4 receptor for treating
Type 1 Diabetes
University of Oxford
Human Islets For Basic Research- Oxford JDRF Human Islet
Resource Centre
Investigating the transcriptome of pancreatic islet delta-cells in type
1 diabetes for drug target identification and the prevention of severe
hypoglycaemia
Targeting the chemokine network in insulitis
King's College London
Harmonizing biomarkers in clinical trials of ustekinumab
Lancaster University
Development of a point of care immunosensor for c-peptide
assessment
University of Manchester
Understanding the hepatic microenvironment to improve function and
survival of transplanted pancreatic islets in diabetes
University of Bristol
Pancreatic function; unanticipated insights into progression rate to
type 1 diabetes		 35,360
71,865
47,852
5,162
190,452
47,846
105,365
43,384
41,125
12,715
70,266		 15,970
20,064
12,267
13,333
19,931
8,062
5,000
12,447
38,580
25,328
1		 15,970
35,360
71,865
67,916
5,162
190,452
12,267
13,333
19,931
8,062
5,000
47,846
105,365
12,447
43,384
79,705
38,043
70,267		 12,024
89,245
44,945
52,459
100,905
20,000
100,000
47,478
45,193
43,972
82,014
50,503
53,333
25,124		 100,000
120,160
98,166
14,701
55,427
102,254
63,109
5,839
25,228		 100,000
12,024
89,245
44,945
52,459
100,905
140,160
100,000
98,166
47,478
14,701
100,620
146,226
145,123
50,503
59,172
50,352

Juvenile Diabetes Research Foundation Limited 35

Notes to the financial statements 30 June 2025

5 Research grants (continued)

----- Start of picture text -----
2025 2024
Un Un
Restricted restricted Total Restricted restricted Total
Principal investigator £ £ £ £ £ £
Bought forward total 670,431 170,983 841,414 742,071 559,656 1,301,727
PEG-Based Hydrogels for iPSCs-Derived Regenerative Therapies Julie Cawley / Rocio
for Diabetes Sancho 9,692 9,692
University of Birmingham
Exploring the feasibility of an immunotherapy infusion service for
type 1 diabetes prevention in the UK NHS setting. R Dias/P Narendran 33,133 33,133
Testing the feasibility and acceptability of Early Surveillance for
Autoimmune diabetes: The ELSA Study Parth Narendran 55,000 28,809 83,809
stablishing the effectiveness, safety and acceptability of treatments
to preserve beta cell function in people with type 1 diabetes (T1D) Parth Narendran 52,600 24,617 77,217
Development of 4 antibody multiplex assays for type 1 diabetes
screening Alex Ritcher 25,204 67,907 93,111
Mixed Methods study exploring the impact of hybrid closed loop
systems on patient recorded outcomes in people with type 1 diabetes
and their partners P Choudhary 3,240 3,240
JDRF T1D Fund 196,936 196,936
MQ Foundation - Emory University
Adapting and testing an integrated care model for treatment of Type Lea Milligan / Leslie
1 diabetes and mental health co- morbidities Johnson 16,071 16,071 32,142 3,214 32,143 35,357
SMF Grand Challenge
Treg-sparing co-stimulation blockade: testing a novel
immunosuppression strategy in people with Type 1 diabetes Danijela Tatovic 140,615 140,615 49,497 49,497
Improving Treg immunotherapy success by administering therapy at
different times of day James Pearson 121,943 121,943 149,966 149,966
Grant refunds received from payments made in previous financial
years (961) (5,615) (6,576) (5,236) (5,236)
University of Cambridge
Data-driven immunotherapy in T1D Eoin McKinney 255,365 255,365
Monash University Australia
Christoph
A nano-sugar based artificial pancreas for the treatment of diabetes Hagemeyer 222,679 222,679
Wayne State University
A Novel Glucose Responsive Insulin Injection Zhiqiang Cao 41,750 41,750
Jinhua Institute of Zhejiang University
Glucose-responsive polymer insulin Zhen Gu 385,912 385,912
Stanford University US
Monomeric insulin formulations with fast onset and short duration of Danny Hung-Chieh
action Chou 250,000 250,000
Trustees of Indiana University
Preventing hypoglycaemia through novel insulin-glucagon fusion
proteins Michael Weiss 264,534 264,534
University of Notre Dame US
Translational Validation of Glucose-Responsive Insulin in Swine
Models Matthew Webber 423,000 423,000
2,899,900 267,999 3,167,898 1,201,704 682,938 1,884,642
----- End of picture text -----

Juvenile Diabetes Research Foundation Limited 36

Notes to the financial statements 30 June 2025

6 Net income (expenditure) before transfers

This is stated after charging:

2025
£		 2024
£
Depreciation
Loss on disposal of fixed assets
. Audit for current year
. Under-accrual for previous year
Operating lease rentals
. Property		 20,671
4,257
557
13,500
2,580
92,862		 47,620
557
12,900
2,400
151,379

Juvenile Diabetes Research Foundation Limited 37

Notes to the financial statements 30 June 2025

2025
£		 2024
£
Salaries and wages
Social security costs
Pension contributions		 2,809,133
297,911
133,527
3,240,571		 2,676,857
265,956
121,106
3,063,919

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
2025
26.1
30.5
9.9
66.5		 Head count
2024		 FTE
2025		 FTE
2024
Raising funds
Charitable activities
Central support		 26.1
29.8
9.0
64.9		 25.0
29.1
9.5
63.6		 24.8
28.3
8.6
61.7

The key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis comprise the trustees, and the executive management team. The total remuneration (including taxable benefits and emp pension contributions) of the key management personnel for the year was £579,996 (2024: £552,771).

----- Start of picture text -----
2025 2024
£ £
----- End of picture text -----

£ £
Employee between £110k & £120k 0 1
Employee between £100k & £110k 1
Employee between £90k & £100k 1 1
Employee between £80k & £90k 2 0
Employee between £70k & £80k 0 2
Employee between £60k & £70k 3 3

The pension contributions paid during the year for these employees totalled £31,571 (2024: £31,078).

8 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for subsidiary JDRF Trading Limited gift aids available profits to the charity.

Juvenile Diabetes Research Foundation Limited 38

Notes to the financial statements 30 June 2025

9 Tangible fixed assets

----- Start of picture text -----
Leasehold
improve- Computer
ments equipment Total
Group and Charity £ £ £
Cost
At 1 July 2024 108,381 124,460 232,841
Additions in the year
Disposals in the year (6,476) (6,476)
At 30 June 2025 108,381 117,984 226,365
Depreciation
At 1 July 2024 108,379 107,176 215,555
Charge for the year 6,757 6,757
Disposals in the year (2,219) (2,219)
At 30 June 2025 108,379 111,713 220,093
Net book value
At 30 June 2025 2 6,271 6,272
At 30 June 2024 2 17,284 17,286
----- End of picture text -----

10 Intangible fixed assets

Intangible fixed assets
Groupand Charity Software
development
£
Cost
At 1 July 2024
Additions in the year
At 30 June 2025
Depreciation
At 1 July 2024
Charge for the year
At 30 June 2025
Net book value
At 30 June 2025
At 30 June 2024		 69,576
69,576
17,991
13,915
31,906
37,670
51,585
11 Investments
Charity		 2025
£
10,001		 2024
£
Investment in unquoted subsidiary undertaking at cost 10,001

Juvenile Diabetes Research Foundation Limited 39

Notes to the financial statements 30 June 2025

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 -----
2025 2024
£ £
Turnover 428,959 405,756
Cost of sales
Gross profit 428,959 405,756
Administrative expenses (112,978) (95,225)
Operating profit 315,981 310,531
Taxation
Profit on ordinary activities after taxation 315,981 310,531
Gift aid distribution to parent undertaking (315,981) (310,531)
Movement in retained earnings
----- End of picture text -----

The aggregate of the assets, liabilities and funds was:

2025
£
488,446
(478,445)
10,001		 2024
£
Assets
Liabilities
Funds		 339,899
(329,898)
10,001

13 Parent undertaking

2025
£		 2024
£
Gross income
Results for theyear		 7,587,130
(660,780)		 6,265,170
(604,348)

14 Debtors

Debtors
Group Charity
2025
£		 2024
£		 2025
£		 2024
£
Trade debtors
Amounts due from subsidiary
Prepayments
Accrued income		 176,431
162,636
379,095		 16,907
162,264
343,592		 60,339
165,982
162,636
379,095		 6,275
145,959
162,029
339,591
718,162 522,763 768,052 653,854

Juvenile Diabetes Research Foundation Limited 40

Notes to the financial statements 30 June 2025

15 Creditors: amounts due within one year

Group Group Charity Charity
2025
£		 2024
£		 2025
£		 2024
£
Trade creditors
Taxation and social security
Other creditors
Rent free benefit over lease period
Deferred income
Accrued costs		 121,866
111,721
100,163
223
275,984
35,687		 176,891
85,282
110,072
3,788
169,139
33,192		 88,025
84,012
98,665
223
26,568
35,687		 176,891
70,246
110,072
3,788
33,192
645,644 578,364 333,180 394,189

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

Group Group Charity Charity
2025
£		 2024
£		 2025
£		 2024
£
Brought forward as at 1 July
Additional income deferred in year
Brought forward funds released in year
Carried forward as at 31 June		 169,139
275,984
(169,139)		 199,772
169,139
(199,772)		 26,568 53,630
(53,630)
275,984 169,139 26,568

16 Analysis of net assets between funds

Group Restricted
funds
£		 Un-
restricted
funds
£		 Total
funds
2025
£		 Restricted
funds
£		 Un-
restricted
funds
£		 Total
funds
2024
£
Tangible fixed assets
Intangible assets
Net current assets
Net assets at 30 June		 977,891
977,891		 6,272
37,670
909,660
953,602		 6,272
37,670
1,887,551
1,931,493		 642,319
642,319		 17,286
51,585
1,565,102
1,633,973		 17,286
51,585
2,207,421
2,276,292
Charity Restricted
funds
£		 Un-
restricted
funds
£		 Total
funds
2025
£		 Restricted
funds
£		 Un-
restricted
funds
£		 Total
funds
2024
£
Tangible fixed assets
Intangible fixed assets
Investments
Net current assets
Net assets at 30 June		 977,891
977,891		 6,272
37,670
10,001
899,659
953,602		 6,272
37,670
10,001
1,877,550
1,931,493		 642,319
642,319		 17,286
51,585
10,001
1,555,101
1,633,973		 17,286
51,585
10,001
2,197,420
2,276,292

Juvenile Diabetes Research Foundation Limited 41

Notes to the financial statements 30 June 2025

17 Movement in funds

----- Start of picture text -----
At 1 At 30
July June
2024 Income Expenditure 2025
£ £ £ £
Restricted funds
Research funding 90,118 835,813 (794,103) 131,828
Steve Morgan Foundation Barrett Trial 342,005 342,005
Steve Morgan Foundation Grand Challenge 13,317 2,715,000 (2,284,236) 444,081
Support and awareness 117,822 45,100 (162,922)
CMC Funding 79,057 (19,080) 59,977
Total restricted funds 642,319 3,595,913 (3,260,341) 977,891
Unrestricted funds
General funds 1,633,973 4,420,176 (5,100,547) 953,602
Total funds 2,276,292 8,016,089 (8,360,888) 1,931,493
At 1 At 30
July June
2023 Income Expenditure 2024
£ £ £ £
Restricted funds
Research funding 273,661 818,699 (1,002,242) 90,118
Steve Morgan Foundation 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
----- 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 42

Notes to the financial statements 30 June 2025

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: 2025
Land and
buildings
£		 2024
Land and
buildings
£
Less than one year
Between two and five years		 121,246
121,246

19 Related party transactions

Trustee expenses for the year totalled £nil (2024 - none).

Charitable donations received from trustees totalled £12,040 (2024 - £14,030).

There were no other transactions with related parties which required disclosure during the year (2024 - none).

20 Post balance sheet events

On 7 November 2025 Breakthrough signed an agreement to lease a new office at 28 Harbour Exchange Square, Harbour Island, London, E14 9GE, and expects to move into the new office in January 2026. The new lease will run until 31 December 2031 with an annual commitment of £220,000.

Juvenile Diabetes Research Foundation Limited 43