Charty re9lstration number 1091882 (England and Wale$l Company reglstration number 04110627 THE MOUNT VERNON MARIE CURIE RESEARCH WING TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 • xeinadin THE MOUNT VERNON MARIE CURIE RESEARCH WING TRUST LEGALAND ADMINISTRATIVE INFORMATION Tru$tge Dr RAlonzi Prof P Hoskin BrA Makris DrKJYChiu Charbty number IEngland and W•l•$} 1091882 ompany nUM￿r 04110627 Règlstorsd offlco The Mount Vemon Marip Curie Res9arch Wing 1st Floor, Mount Vernon Hospital Rickmansworth Road Northwood Midd185ex England HA6 2RN Auditor Xeinadin Audit Lirnitod Suit8 13. Leavesden Park 5 Hercules Way Leavesde W8tFord Hertfordshire Uni(ad Kingdom WD25 7GS Investment advisors Rowan Dartinglon & Co. Ltd 1 Etnperor Way Exeler ￿￿SInesS Exeler. Devon EX1 3QS THE MOUNT VERNON MARIE CURIE RESEARCH WING TRUST CONTENTS Pagè Truslees. report Indepe￿ent auditor's report Statement of financial activities Balance sheel Notes lo the financial statements 10- 18 THE MOUNT VERNON MARIE CURIE RESEARCH WING TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2025 The trustees present their annual rep¢)rt and financlal statemonts for the year ended 30 S8pl8mb8r 2a25. The financial stat6ments havg been prepared in accordar)ce with the accounting policies set out in note 1 to the rinar)cial stslgmenls and Comply wth the trust's govemrng document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in Ihg UK and Republic of Ireland" and the Charities SORP 'Accounting and Reportlng by Charities.. Statement of Recommended Pra¢lioe applicable to charities preparing their accounts in accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021.. Oblectlves and actlvltles The objectives of the Trust are to proloct 8nd promolg tha haath of th& publlc In parucular by: the investigatlon of the causes of cancer and the prgvenliorh, treatment, cure and defeat of cancer in all its fom)s', the advancement of scien￿fiC and medlcal education and researth into oncology and all topics relating to ancer., and the furtherance of any other chartsble purpo88 for th8 relief of pèrsons suffering from cancer. PublAC benefit Thè trustaès hav6 paid due règard to guldance issued by the Charlty Commission in deciding what 8Ctiviti85 the trust should vndertake. Aehievernents and p8rformanc• Significantacttvities and achievements against objectives The Mount Vernon Marie Curie Resgarch Wing Trust charity sts within the NHS ftamèwork, conducting applied research irbtQb various foms of cancer on behalf of a numb&r ol organisations, both public and priY8tè. This can include trials of nEW drugs or treatment5 which will pitsvide material benefit to many can¢er syfferer5. During the period October 2024 to September 2025 the followng reg8arch ptsstÉrs and publications were submitted and presented., Predictors ol outcome for focal HDR salvage prostale brachytherapy in lO￿llY Telapsed prostate cancer- ESTRO 2024 IPosteT 0Sscusslonl. The impact of multiprofessional radiotherapy peer review on multidisoplin8ry team meeting staging in Head and Neck Cancer. Outcomes of ster80tactic ablative body radioth8r8py on èxtrA-cranio1 ol1g0metastal￿ and oligoprogressive br&asl cancer. Idenlfying ￿gIonS al risk of treatment failure and residual disea5p in cervical cancer chemoradiotherapy adapted fisk-score - First author proffered papgr oral present8tion in ESTRO CDngress 0512025. Spatial and temporal changes in functional magnetic resonance imaging parameters Sn ￿1vICal cancer ch6mtsradiolh6rapy- First author poster presentation ESTRO congress 0512025. Predictors c>f outcome for f¢)cal HDR salvage prostate brachytherapy in locally r81aps8d prostat8 cane8r prgs¢nlation ESTRO congress 0512025. Factors Contributing to Venous Thromboembolism in pati8nts und8rgoing brachytherapy for Gynae¢iAogical Cancers- IGGS Conference 1012024. Doès radiation-induced tymphocytopenia Matte￿ Developing a radiotherapy dosimetric strategy lor immune prgs6rvation and Improved surylval AbduS-Latif, M., Conibear, J.. ThiTuthang8swaran, N. and Tsang, Y.M. BMJ oncolo9y 0312025. THE MOUNT VERNON MARIE CURIE RESEARCH WING TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 The charity coF)linues to participatè in th6 ￿mOr sile and c3nGer tieatmenl trials listed as follows.. Clinical trials in breast cancer èvaluatin9 new drugs in Gollaboration with pharmaceutical industry partners Clinical trials in prostate and bladder ran¢er evaluating new drugs in collabordlion with phamiaceutical industry partners- Clinical tiials in prostate cancer ovaluating new radiolhorapy sehedules., Clinical trials in prostale cancer gvaluatlllg new brachytherapy schèdules., Clinical trials in proslale can￿r evaluating salv8ge brachytherapy., Clinical trlals in bladder can￿r evaluating new radiotherapy schedul85 and drug combinations,. Clinical tria15 in head and n8ck cancer evaluating new radiotharapy schedules and drug combinalons; Clinical trials in head and ngck cancer evaluating new drtvJs In collaboration with phamac8utical industry partners. The Fighting Breast Cancer C8mpaign lèd by Dr Makris and Dr Mlle5 continues lo und8rtak* successful fundraising from dediGat¢d indpiiduals keen to support th& campaign. The charity continu8S tts rèc8ive support from donations through fundraisers using Justgiving and Ghoritie5 Aid Foundation amongst oih8t5, and will regularly ￿VIeW any opportunities for grant application5. as well as on-going support from Elsevie¥. The charity also benefit5 from occasional lund-raising campaigns from sUPPOrters. There Is a Continual flow of puP)lications from the work SUPPDrted by the charity. In 2024125 there werè 44 peer review publications arising fiotn this wtsrk. The work of the chartly Is also presented in lectures both nationally and internationally including.. National lectures at the Royal College of Radiologists in Lolldon, the Britlsh Gynaecological Cancer Society, British Institute of Radlology and the British Association of Head & Neck onc01￿IStS IBAHNOI., Lectures al the universities of Oxford. Cambridge and Manchester,. Lectures at International meetings in Europe. USA, Auslralasia. Sti Lanka, and India. During Ihe year we aocepted the ftjllowing clinical visitors to observe Brachytherapy prweduras under the guidarTrc8 of Profosstsr Hoskin- Dr Pooriwat Muangwong from the F￿￿lty ol Medi￿￿8. Chiang Mai and Dr Shi Chen trom ospi eng The Mount Vernon Marie Curie R&searGh Wing Is continuing lo support Dr Chloe Brook5 by SPDn50ring tuition fees for the duration of hei MD course al Manchester University as well as dlnS¢al professional individuals who require additional funding for ¢linical sknlls development. Financlal ravl6w The operational loss 01 £92,297 12024.. £42,518 lossl, bgfore th8 nel gain of £75,285 12024.. £126,147) on investm6nts, is regarded as salisfaGtory In view of the nature of all fi8lds of the Trusys operatigns and the curfenl economic sitL¢ation. The nature of iesearch is cyclical and the pr*liey of the Tmsl is not lo comtnit to employing research staff until the is certainty ol funding for the project. Due to the spècialised nature of the Trusys activities, finding the right persons to undertake rèsèarch can take some time. This is emphasised by the n8t assets of £1.6￿.639 12024.. £1,652,651), which is 5LJIfI￿enI to Cover currènt at forecast cornmilmenls. R8sones policy It ig the policy of the Iwsl that unr6Stricied funds which hav8 not been deslgnated for a specific use should b8 maintained at a level equivalgnl to at least tWe￿e month's exp8nditur8. The trustees consider that reserves at this level will ensure Ihat. in the event of a significant drop in funding, Ihfyy wll be able to continug thè trust's current activities while consideration 18 given to ways in which additiorial lund5 may b& raised. This level of reserves has been rnaintain8d throughout the year. THE MOUNT VERNON MARIE CURIE RESEARCH WING TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED} FOR THE YEAR ENDED 30 SEPTEMBER 2025 Plans for future period5 The Mount Vernon Marie Curie Research Wing Trust, In ¢onlundon wilh East & North Hèrtfordshire Teaching Tru51 will host the UK & Ireland Prostate Brachylherapy conference in June 2026. This evpnt Is hèld every 2 years and brings together delegales in the field ol Prostatè brachytherapy. The TTUSt will also maintain collaboration5 With Tweinvivo forfutuie resaarch in microdosirnetry and current clnical trial activiiy will be rnaint8ined. structurol goyemance and management Thè trust is a company limited by guarantee eontrolled by its governing document and a deed of trust. The trustees, who arg also the diTaCtors for the purpose of company law. and who servod during Ihè yoar and up to the date of signatur9 of the financial statèm&nts were.. Dr R Alonzi Prof P Hoskin DrA Makris DrKJYChiu Rocmilmenl and 8PPOlntm&nt of trust8&S The trustees kgop IhEms¢lve5 inlomed of current issues and if nècèssary extra Irainlng 18 arranged as and when needed. None of Ihfy trustees has any beneficial interest in th8 company. ￿1 of the InJslee8 are mernbeis of the company and guarantee lo contribute £1 in the ov8nt of a winding up. The companys current policy con￿mIng the payment of tradè crgditors is lo follow the GBI'S Prompt Payer5 Code Icoples are available from thè CBI, Cèntrè Point, 103 New Oxford Str991, London WC1A 1 DU). The cotnpany's current policy concerning the paymgnt of trade creditors is lo- settle the terms c>1 payment w¢th suppliers when agreeing the tertn5 of each transadion.. rht b inc usion of the relevant terms In contracts- and pay in accordance with the company's cOrrtr8ctu￿ and other legal obligations. Statement of trust￿3. ro$pon¥ibilliles The trustees, who arè also the directors of The Mount Vemon Marie Curle Research Wing Tnjst for the purpose of company law. are respon5iblÈ for preparing the Truslees, Report and the financia1 staternenls in 8ccordance with applicable law and United Kingdom Acoountin9 Standard5 (United Kingdom Gènèrally Accepted Accounting Practicel- Ctsmpany law fequirgs Ihg trustees to prepare finan¢iel statem8nts for each financial year which give a true and lair viow of the stale of affairs of the trusl and of the incoming resour¢os and application of resour{￿$. including the in¢om? and expenditure. of the chaiit8bl• company for thal year. In preparing thèse financial statements, tho trustees are required to.. seled suitable accounting policies and then apply them wn5i5tEntly- observe the methods and principles in the Charilios SORP., make judgements and oslimates that are reasonable and prudent.. and prepare the financial ststernents on the going concern basis unless il is Snappropriale to pr8surft8 that the twst will Continue in operation. The Irustses are r6sponsible for keeping 8d8qU8te accounting records that disclos• with reasonablg sGGuracy at any lime th8 finkncial position of th8 trust and enable them to ttnsure that the financial statements cornply wth the Companies Act 2006. They a￿ also responsibl8 for $8laguarding the ass815 of the ttU5t aiid hence for taking reasonable stgps fDr the prevention and detection Df fraud and other irregulariti85. THE MOUNT VERNON MARIE CURIE RESEARCH WING TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Audltor In accordance with th8 company's artidos, a rèsolutSon proposin9 that Xeinadin Audit Limited be reappDinted as auditor of the company will be put at a General Meeting. Disc105ure of infomiatlon lo audltor Eath of the truslees ha5 confirmed that there 15 no infamalion of whith they are awaN which is relevant to the audit. but of which the auditor is unaware. They have further confimied that they have taken appropriate steps lo Identlfy such relevant information and to establish that th8 audttor is aware of such information. The trustoes, rgport was approved by the Board of Truslg8s and signed o s bèhalf by.. Dr R Alonzi Trustee Prof F Hoskin Trusteo Datè.. THE MOUNT VERNON MARIE CURIE RESEARCH WING TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE MOUNT VERNON MARIE CURIE RESEARCH WING TRUST Oplnlon We have audited the financial staternents of The Mount Vemon Marie Curiè Research Wing Trust (the Irusl'l for the year ended 30 September 2025 which comprise the slaloment (rf financial acti￿lIes, the balaF)ce sheet and notes to the financial statements, including significant aEEounting poli￿es. The financial reporting framework that has been applied in their préparation is applicablg law and Uniled Kingdom Accounting Standards. including Financial Reporting Standard 102 Tho Finanual Reporting St8ndBrd applicable in Ihp UK and Republie of Ireland (United Kingdom Generally Accepted AG￿￿tIng Practicel. In our opinion. tho fflnanTral statements.. gwe a true and fair view of the state of the charitable cornpany's affairs a5 at 30 September 2025 and ol its incoming rèsources and application of resourcès, including its income and oxpenditurè, for thg year then &nded', have been properfy prepared in accordan¢e wrth Unlted Kingdom G8nèrally Accepted Acrounting PTactice,' and havè been prepared in a¢cordanTr wlth the rgquirernents ol the Ci)mpani85 Ad 20C>6. Basls for opinion We conducted our audii in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities undèr thos& standards are fvrther described in the Auditorfs responsibilities for the audit of lh8 financlal statements Section ol our report. We are hndependenl of the trust In accurdan¢e with the ethical requirements that are relevant to gur audit of the financial ststarnenls in the UK, including thÈ FRC'S Ethical Siandard, and wè have fulfilled our o)Iher ethica5 responsibilities In accordance wiltt these requirements. Wg bolleve that the audit evidence we hava obtained is sufficjent and appropriate to provide a basi5 for our opinion. Concluslons relatlng to golng concern In auditing the financial statemgnts, we havè concluded that the trustees, use of the golng concern basis of ccounting in the preparation Of the financial sletgments Is appropriate. ase ewo we ave pe conditions that, individually or collectively, may ￿51s1gnIrIca￿t doubt on the trust's ability to conlinLJe as a going concem for a period of at lèast ￿e1ve months from when the financial 5tstÉments are authorised for issue. Our rgsponsibilitiès and the responsibilitlgs of the trustees with rèspect to going conoetn ara described in the relevant sections ol this raport. other informatlon The othei information w￿p￿sS$ tha information iricluded ttt6 annual report other than the financi81 statements and our auditorfs report thereoll. Th8 trustees are responsible for the other information Lontained within the annual report. Oui opinion on the finanGial statements does not cov6r the other information and, exc8pI to the extent olherwise 8xplicidy staled in our report, we do not exprg$s any form ol assuranc8 conclusion thereDn. Our responsibility is to read the other infomiation and, in doing so, Eonsider whether the oth6r info¥malioN 15 materially inconslslgnt with the financial stat&rnents or our thowledge obtained in the course ol the audit, or otherwise appears to be materially mlsstated. If we identify such malerial inconsistencies or apparenl TllaleTial mi5Staternents, we are required lo determine whethèr this gives rise lo a rnaterlal misstatement in th& financial statements themselves. 11, based on the work we havè p8rfOm)￿. we conclude that th6re is a material misstatement of this other information. we alè rèquired to report that facl. We hav¥ nothlng to report in this reg81d. THE MOUNT VERNON MARIE CURIE RESEARCH WING TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE MOUNT VERNON MARIE CURIE RESEARCH WING TRUST Oplnions on other mattgrs preserlbed by the Companles Art 2006 In our opinion. based on the work undertaken in the course of our audit= the wiformation given in trustees. report lor financial year for which thè financial statgments are Prepa￿d. which inGSudes th8 directors, report prepared for the puipuses of company law, is consistgnt with the finandal 5tatements'. and the directors. report included ￿1th1n the trustees. report hag been prepared in awrdance with appli¢able legal rèquirements. Matlars on which we are required to report by ex¢8ption In the light of the knoWI￿ge and understanding of the trust and its enwronmènt obtained in the course of th8 8udit. we have nol identified mai&ri81 misstatements in the directors. report induded within the tru5tees' report. We have nothing to rèport in respect ol the fOl￿willg matters in relation to whl¢h the Companies Act 2006 raquires us to report to you if, in otjr oplnlon.. adequate accountlng records have not been kept. or retums adequate for our audit have not been received from branches nol visitèd by us., or the financial st8t9ments ale not in agreement with thé accounting records and retums-, or certain disclosures of trLbslee5' remuneration speGrfied by law ale not madè.. or we hav8 not rBceived all the information and explanations we require for our audit", or the trustees were not entiUed lo prepare financial 51alements in ac(xJrdance with the small companies regime 8nd takè advantage of the small cornpanies, exemptions in preparing th6 trustees. report and from thè requiremenl lo prepartS s stratègic rèport. Responslbllities of trustèès As explained more fully in the statement of IrLkStee5' résponsibilities. the Iru8lees, who Bre also tre dire¢tors of the trust for the purpose of COTnpany law, are responsible for Ihe Preparation of the financi81 statements and for being salisflgd Ihat they give a true and tsir view, and for such inlemal control as the Irustees determine is necessary lo tglement whether duo lo fraud or ermr. In preparing the financial statements, the Iruslees ar8 respDn5ible for assessing thè trust's ability lo continue as a going concern, disclosinq, as applicablè, matters relal&d lo going concern and usin9 th8 going concem basis of aGoounting unless the trustees either Sntgnd to liquidate the charbtablg company or to cease operalions. or havg no realistic alleinativg but to do so. Auditorfs responslbllities for thè audlt of th• flnanclal statvmenis Our objectives are to obtain reasonable assurance about whether the financial slatements as a vthole are free from material misstatement, whether dué lo fraud or error, and to Issue an auditor's report that includes our opinion. Reasonable assurance is a high18v81 of assurance bul is not 8 guarantee th3l an audit Gonducted in accordance th ISA5 IUKI will always delecl 8 mat0ri01 tnis5talement when it exists. Misslatemenls arise Irom fraud or error 8nd aré considered material rf. individually Dr in the aggregate, they could ¥easonably be exp6ct•d lo infiuence the economi¢ de¢isSons of users taken on the basis of thase financial stalpmonts. Thè extent to which our procedures capable of detecting Iwegularities. including fraud. is detailed below. Discussions with and enquirigs of managèment and those charged wth governance were held with a view lo identifying those laws and regulations that could be Expected to have a material impact on the financial statements. During the engagÈmènt team briefing, the oulooffles of these discu8sions and enquiries were shared with the team, as well as consid8ration as to where and how fraud may occur in the entity. Tho following laws and regulations were idéntified as being of significance to the entity= Those laws and regulations considerèd to have a direct eff9¢1 on the financial ststemènts include UK finanaal reporting standards, Tax and Pensions 18gislation. Those law5 and iegulations for which non-compllance may be fvndamèntal to the operating aspe¢ts of th8 bu$inoss and therefore may have 8 matorial eftect un the financial stataments inclL5de hg8lth and safely legislation, Cha¥ities SORP, GDPR and the Fundraising R8gulator. THE MOUNT VERNON MARIE CURIE RESEARCH WING TRUST INDEPENDENT AUDtroR'S REPORT (CONTINUED) TO THE MEMBERS OF THE MOUNT VERNON MARIE CURIE RESEARCH WING TRUST Audit prory1u￿ undertaken ￿ ￿SponSE to the kthnttal risks teklng to wregulaTfti8s (whith indude fraud and non complk7nce Jaws and regulations} comprised ot. inquiries of manapmenl and those ch¥ryed with go￿rnan¢e as to whethgr tho entlty ￿mPlIeS with stKh laws and rggulafjons," enquiries with Ihe same ooncernirvJ any actual or potential iitigatbn or claims,. Inspedon of relevant Wl correspondence", revEew of board minutes". tgsting the aFpfDWiHtenes$ gf lo￿al entiies: and ths performance of analytical wew tD Mlentify ￿n￿ec￿ movements in ar￿Unt balan￿$ whlch may be iTrJicatwe offraud. No Instan¢es of materf31 non-CJ)mpliance were Klentinod. HO￿Ver. trt likeliknood of detecttn9 IrreguLarttles, Indudlng fraud. ts limited by Ihe inherent difficulty In dete¢ting Irregul8rfti￿. tho effecdvsness of controls, and th8 Da￿[0. tiryu¥y and ex¢en£ olthe Judit prvGedure5 p8rfonn¢d. Irregularities Ihat fE5uIt from fraué rnlglrt be inherenuy more d1￿￿￿10 detect than i￿egu￿￿e5 that resutt from eFror. As ewlained above, there is an unavO￿ab1Q risk Ihat material misstatements may ￿t be detscted. ￿en thcKJgh the audit has Leen plarbn8d and performed In accordAn￿ wlth IS4s (UK). A ￿rther deSCrip￿On of our responsb5 ￿lti￿$ Is aval￿ble on the F￿an￿al Repurtiro CouncA's webslEe atr htlpsjl ww.frc.org.uklauditorsre5pornsibdiliBS. Thts dèseription form8 Part ofour￿dit0￿S report. Vse of our T0POrt This report made 501ety to the thwitable compgnvs mernbè￿, a body. in accord8n¢e wilh Chapter3 01 Part 16 of the Companies A¢t 2006. thr audftwork has been undertaken so that we milit stste lo the c*aritable companls rnembe￿ knse matters wtr are requtrgd to state to Ihem ui an audttor's report and for rK) other puw. To the fullest extent pemiitted by law, we do nol a￿pt or assume responstbilty to anyone other thaTr the tharitabte cryny and the ¢hariiable CoM￿ny￿ mèrnbgrs a¥ a boay. fvr QUT audit work, for thk8 ￿F￿r1 or fvrthe opinions we havg fonned. K18rDn Pearce FCCA en Dr or F¢rand on beh8lf of XBinBdinAudit Limitsd, StabJtoryAttditor chart?￿dAGG￿u[rfaTrts Suite 13. Lgavesilen Park 5 HerpJl¢s Way Leave3(1gn WatFord Hertford¥li WD25 7GS Uw*ted lfj dom Date.. THE MOUNTVERNON MARIE CURIE RESEARCH WING TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2025 Unrostrlcted fund5 2025 Unr•stricted funds 2024 Notes Income and endowments Irom: Donations and legacies Charitable activit.as Investments other Incom8 12,083 2,773 52,821 10.968 21.604 9,365 54,485 5,892 Total ineom• 78,645 91,348 Exp•ndlturn on- RaSsing funds Chaiitable activitios 21,299 149.643 20,220 113.644 Total expenditur• 170,942 133,864 Net gainslllossesl on investments 12 75,285 126,147 Net incomel{•xp¥ndlture} and movement in funds 117,0121 83,629 Fund balancas at 1 October 2024 1,652,651 1,569,022 FurEd balanc&s at 30 Sapt•mber 2025 1,635,e39 1,652,651 The slalerrgnl of financial activitigs Èndudès all gains and1055es recognised in the ygar. All income 8nd &xpenditure derive from continuing activities. The notes on pag8$ 10 to 18 form part of th&se financial statoments. THE MOUNT VERNON MARIE CURIE RESEARCH WING TRUST BALANCE SHEET AS A T30 SEPTEMBER 2025 2025 Flxed as$&ts Investments Notes 2024 14 1,548,698 1,444,OB8 Curront assets Debtors Cash 8t b8nk and In hand 15 28,922 124,522 45,425 214.034 CTedFtor8.' amounts fallln9 du8 whhin ¢)ne year 1S3.444 259,459 16 166,5031 150.8961 N8t currènt as$et5 86,941 208.563 Tolal asset9 le$s cwront liablliti•s 1,635,639 1,652.651 The fund8 of th8 twst Unresbrclod furwjs 17 1,635,639 1.652,651 1,635,639 1,652.851 Thè notes ¢)n pages 10 to 18 form part Df th&$è financtal skleFnents. n¢fal sta18ments wera 8pprov8d by the twsleè8 0 Or R Abnzl Tryst88 P Hoskln Trusts8 AN,k,, DrA Makrls Trusetsa DrKChl Trustee Crxnpany règistratiDTr number 04110621 IEng]and and Wal981 THE MOUNT VERNON MARIE CURIE RESEARCH WING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 Ac¢ounting pollclos Charlty Information The Mount Vemon Marie Curie Research Wing Trust is a private company limrfcèd by guarantee incorporated in England and Wales. The registèrèd office is Th8 Mount Vemon Marie Curiè Research Wing. 1 st Floor, Mount Vgrnon Hospital, RickmJnsworth Road. Northwood, Middlèsèx, HA6 2RN, En9land. 1.1 Basis of preparation Th6 financial statements havè been prepared in accordance witr the Irusfs goverrting document. the Companies Act 2006, FRS 102 'The Financial Reportin9 Standard applicabl8 in the UK and RepubliE of Ireland. and the Charilies SORP "Accounting and Reporting by Charities.. St8t8ment ol Re¢ommend8d Practice applicable to d)arities preparing thèir accounts in accordance with the Financial Reporting Stsndard appI￿able in the UK and Rtrpublic of Ireland IFRS 1021 The twst is a Public Benefit Entity as definèd by FRS 102. The tNst has taken advantage of the provision5 in the SORP for charit16s not lo prepare a statement ol cash flows. The finxncial statements are prepared in sterling, which is the functional currency of the trust. Monetsry amounts in these financial slalements are ioundèd lo the nearest £. The financial statements have been prepared under the historical ¢ost convention, modi118d to include certain financial inslrumgnt5 at fair value. The principal accounting policies adupted are sol out below. 1.2 Going ¢on¢•xn At the lime ol approving the finandal statements. the trustees have a reasonablg expectation that thè trust has ad8qUAte rasources lo continue in Operational existence for thé foreseeable future. Thus the trusletss continue to adopt th8 going concem basi8 of accounb.ng in preparing th8 financial staternerhts. 1.3 Charitable funds Unrestricted funds aw available for use at the discretion of the trustees in furtherance ol Ihelr charitable objectives. 1.4 Incorne Income Is recognised wh8n the tmst is legally entilled lo it after any perfomanc8 conditions havo been mel, the amounts can be measured reliably. and il is probable that income will be received. Cash donations are recognised on r8c&ipl. Other donaliorbs are rtrcognised once thè trust has been notified of the donation, unless performancs ¢onditiorns require deferral of Iha amount. Income tsx recoverable in r81ation lo donatioNs mceived under GIft￿d or d¢ed5 of covenant 18 reeognised at the limo of the donation. Legacies ara recognised on re¢glPt or otherwise il the trust has bean notified of an itnpending distribuli(>n, the amount is known, and receipt is expeGted. If the amount Is not known, the legacy is treated as a contingent asset. 10. THE MOUNT VERNON MARIE CURIE RESEARCH WING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Accountlng polkle¥ {Contlnuedl 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation lo transfer economic bènefit to 8 third party, it is probable that a transfer of teonomie bènefits will be required in seltlemenl, and the amount of the obligation can be mèasurèd rÈliably. Expenditure is classified by activity. The costs of each acliwly are made up of the total of (5irert Gosts and shared costs, induding support Costs involved in undertaking each activity. Direct costs attributable lo a single activity awe allocated direGtly to that activity. Shared c05t5 whith contrabule lo more than one activily and upport costs which are not attiibutsble to a single aGtivity are appotliDned between those adivities on a basis consistent with the us8 of resouices. Central staff costs are allocated on th8 basis of tim6 Spènt. and depreciation charges are allocated on the ￿rtIOn of the asset's use. 1.6 Flxed asset investments Fixed asset inv95tments are initially measured at transaction price excluding transaction ¢05ts, and are subsequently measured at fair valu8 at aach rèporting data. Chang8s in fail value are recognised in net In¢omalloxp&nditurel for the y8ar. Transadon Costs are 8xpensgd as In¢uffgd. 1.7 Cash and cash èqulvalènts Cash and (ash oquivalents inGlud9 Ga5h in hand, deposits hBld at call with tsa￿ks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank oveidrafts are show wlthin borrowings in current liabilillgs. 1.8 Flnanclal Instruments The trust has 018¢t8d to 8PtAy the provisions of Section 11 'Basic Financial Instruments. and Se¢tion 12 '0th&r Financial Inslrum8nts Issues, ol FRS 102 to all of its financial inslrurnents. Financial instnjments are iecognisèd In the INst's balance sh09t when the trust becomes party to the Financial assets and liabil¥ties are offset, wrfch the nel amounts presented in the finarrial staternents. when there is a legally enforceable right to set off the recognised amounts and there is an int&ntion to settle on a net basis or to realisè the asset and sèttlè thé liabllity simultanaously. 8aslc flnJnclal assets Basi¢ financial ass8ls, which incl(tdg debtors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequerilly carrierl al amortised cost using Éhe effective interest method unless the arrangemenl constitutes a Iinancing transaction, whtrre the transaction is measured at the present valu• of th& futurè recèipts discount6d at a m&rk&t rat8 of interèst. Financia1 assets classified as receivabl8 within on8 yè8r ara not amortis•d. Bzsio flnan¢ial fiabllitles Basic financial liabilities, including creditors and bank 108ns are initially recognised at transaction price un18SS thè 8rrang8mant eonstitutÈs a financing transaction. where the debt instrurnent is measured at the pr8$ent valug of th8 futvr9 paymgnls discounted al a market rale of interest. Financial liabilities classified as payab within one year afe not arnort18ed. Debt instruments are subs8qugntty carried at amortiS8d ￿1, using the effective intorest rate method. Trade creditors are obligations to pay for goods Or servic8S that have b86n acquired in the ordinary course of operations from suppliers. Amounts payable are dassified as current liabilities if payment is due within one year or less. If nol. they are presenled a5 non-ELJtrernt liabilities. Trade cieditors are iecognisEd inilially al transaction price and subsequenlly measured at amortlsed CDSt Using the effective interest tnethod. THE MOUNT VERNON MARIE CURIE RESEARCH WING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Accounting policies Icontlnuodl Derecognltlon of financlal Ilabllltles Financial liabilities are derecognised when the trust's contractual obligations expire or are discharged OT can￿lled. 1.9 Employee benefits Thé cost of any unusèd holiday Èntitlèment is recognised in the period in which thè èmployee's s6rviees are ceived. Terminatlon benefits are recognised Immediately as an expense when the trust is demnstrably commltted to tetrninate the empk>yment of an employee or to provide lgrminalion benefts. 1.10 Forelgn exchange Transactions in currencies other than pounds sterfing are recorded at the rates of exchange prevailing al the dates of the transactions. Al èach rèporting end datè, monatary assets and liabilities that are denominated in f￿aign currènciÉs arÈ rÈtranslatÈd at the rates prevailing on the reporting end daté. Gains and losses arising on translation in the persod are included in profil or loss. In¢tsm• fT