BREAKTHROUGH FOUNDATION
Formerly known as the Milner Foundation, this charitable company primarily provides funding grants to the US-based Breakthrough Prize Foundation and Breakthrough Prize in Life Sciences Foundation.
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Cash
£2m
USD 2,644,772
+117.1% vs 2024
Net assets
£2.2m
USD 2,959,876
+71.9% vs 2024
Employees
0
Average over period
Profit before tax
—
Period ending 2025-12-31
Net assets
3-year trend · vs Consumer Discretionary median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Total income | £85,297,529 | £49,857,137 | £39,874,075 | -20% | |
| Operating profit | -£4,433,888 | -£1,565,987 | — | — | |
| Profit before tax | — | — | — | — | |
| Net profit | -£3,507,384 | -£1,565,987 | £1,005,400 | +164.2% | |
| Cash | £3,476,763 | £904,001 | £1,962,725 | +117.1% | |
| Total assets less current liabilities | £9,068,273 | £6,839,165 | £3,990,013 | -41.7% | |
| Net assets | £2,802,483 | £1,277,538 | £2,196,568 | +71.9% | |
| Equity | £2,802,483 | £1,277,538 | £2,196,568 | +71.9% | |
| Average employees | — | 0 | 0 | — | |
| Wages | — | — | — | — | |
| Directors' remuneration | £0 | £0 | £0 | — | |
| Directors' pension contributions | £0 | £0 | — | — | |
| Highest paid director | £0 | £0 | — | — |
Figures converted to GBP from USD at 0.742 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | -5.2% | -3.1% | — | |
| Net margin | -4.1% | -3.1% | 2.5% | |
| Return on capital employed | -48.9% | -22.9% | — | |
| Gearing (liabilities / total assets) | 82.3% | 95.7% | 92.0% | |
| Current ratio | 2.02x | 1.30x | 1.17x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 1 time since incorporation
- BREAKTHROUGH FOUNDATION 2020-06-15 → present
- MILNER FOUNDATION 2014-12-01 → 2020-06-15
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Gravita Audit Oxford LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 4 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| FORSDICK, Denise | Secretary | 2015-11-02 | — | — |
| BONNEY, Richard James | Director | 2022-08-24 | Sep 1970 | British |
| CHAN, Chun Fung Jonathan | Director | 2022-08-24 | Sep 1987 | British |
| HUTCHINSON, James Alexander | Director | 2022-08-24 | Apr 1966 | American |
| PAVLOVA, Svetlana | Director | 2014-12-01 | Mar 1979 | British |
Show 4 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| TULLOCH, Alastair Robert Clifford | Secretary | 2014-12-01 | 2015-11-02 |
| FORSDICK, Denise Ann | Director | 2021-04-22 | 2024-09-27 |
| GRIPTON, Bruce Graham James | Director | 2014-12-01 | 2022-08-22 |
| TULLOCH, Alastair Robert Clifford | Director | 2014-12-01 | 2015-11-02 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Richard James Bonney | Individual | Shares 25–50% | 2022-08-22 | Active |
| Mr Bruce Graham James Gripton | Individual | Voting 25–50% | 2016-04-06 | Ceased 2022-08-22 |
| Ms Svetlana Pavlova | Individual | Voting 25–50% | 2016-04-06 | Active |
Filing timeline
Last 20 of 52 total filings
Material constitutional events — rename, articles re-file, resolution
- 2023-01-10 MA Memorandum articles
- 2023-01-10 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-29 | AA | accounts | Accounts with accounts type full | |
| 2026-01-29 | CH01 | officers | Change person director company with change date | |
| 2025-12-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-09-17 | AA | accounts | Accounts with accounts type full | |
| 2024-12-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-09 | AA | accounts | Accounts with accounts type medium | |
| 2024-09-27 | TM01 | officers | Termination director company with name termination date | |
| 2023-12-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-10-02 | AA | accounts | Accounts with accounts type full | |
| 2023-08-29 | AAMD | accounts | Accounts amended with accounts type full | |
| 2023-08-29 | AAMD | accounts | Accounts amended with accounts type full | |
| 2023-08-24 | AAMD | accounts | Accounts amended with accounts type full | |
| 2023-08-24 | AAMD | accounts | Accounts amended with accounts type full | |
| 2023-04-26 | CH01 | officers | Change person director company with change date | |
| 2023-01-10 | MA | incorporation | Memorandum articles | |
| 2023-01-10 | RESOLUTIONS | resolution | Resolution | |
| 2022-12-14 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-10-28 | AA | accounts | Accounts with accounts type full | |
| 2022-09-13 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2022-09-12 | PSC01 | persons-with-significant-control | Notification of a person with significant control |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.