Smalles Goldie
Copy
mailes Goldie
CHAR TERED ACCOUNT AWTS
REGISTERED COMPANY NUMBER: 04017833 {England and Wales)
REGISTERED CHARITY NUMBER: 1095652
The Hull & EY Medical Research Centre
Consolidated Financial Statements
30 September 2023
buW&ng
hff
SD-0214331k1-6
ICAEW
CHARTEREO
ACCOUNTANT5
Smoiles Goldie is a trading nome of
Smoiles Goldie Portnership.

The Hull & East yO￿h1￿ Medical Res•arth C•ntr•
Contents of the Consolidated Financial Staterngnts
for the year ended 30th September 2023
Page
Rep￿t of the Trust*s
1to5
Repcyl of the Indep8ndent Auditors
6t08
Consdidaled stat￿￿t of Fina￿la1 AL#Nities
C￿S￿l￿ated Balance Sheet
10
Charity Balance Sheet
Consolidated Cash Fl(M Statement
12
Notes lo the Consolidated Cash Flow Statement
13
Nole5 to the ConsolKlated Finanaal Stat￿ents
14to23

The Hull & East Yorkshire Medical Research Centre
Report of th• Trustèes
for the year ended 30th SePteM￿r 2023
The Iruslees, who are also direclwJ of the tharity for the purposes of the Companies Acl 2006, present their
report wth the financial statements of the charity for the year ended 30th September 2023. The trustees have
a¢Jopled the prOvis￿n5 of Accounting and Reporting by chan1￿$. Stat￿ent of Rec￿Mmended Practice
applicable lo charities preparing their acr￿U￿t5 in acoNdarte wlh the Finanaal RewiirvJ Standard applicable
in the UK and Republ￿ of Irdand (FRS 102) (effecaive 1 January 2015).
REFERENCE ANO ADMINISTRATIVE DETAILS
Registered Company number
04017833 (England and Wales)
Registered Charity TrUm￿r
1095652
Rogistefed office
The Daisy Building
Castle Hill Hospital
Castle Road
Cottingham
East Yorkshire
HU16￿a
Trustgos
tk A Allam- deceased 02 12 2022
Mr T S E Boanas
Prof P E ￿er
Ms K M Guest
Mr D C Heuck
Mrs V R Heuck
Mr S Howey
Prof M J Lind
Df C A Rowland-Hill
Prof N D Slafford
Company S•¢r•tsry
Prof N D Slafford
Auditors
.Smailes.Goldie
Chartered Accountants
Statutory Auditor
Regent's Court
Princess Street
Hull
East Yorkshi
HU2 88A
Solicitors
Gordans LLP
RNerside West
Whitehall Road
Leeds
West Yorkshire
LS14AW
Gosschalks
Queens Garden5
Hull
HU1 3DZ
Page 1

Th• Hull & East Yorkshlre Ilediul Res•ar¢h C•ntr•
Report of th? Trusteeg
for the year •nded 30th S•ptemb¢r 2023
REFERENCE AND ADMINtsTRAmvE DETAILS {Conllnued)
Bankers
Handelsbanken
First Floor, Westcott House
Hesslewood Bu￿nesS Park
Hessle
East YorkshKe
HU13 OPF
N*'onal Westminster Bank plc
The Square
Willerby
East Y(*ksh*e
HU10 7XW
Virgin Money
10-12 Paragon Street
Hull
HUI 3ND
Beverley Building &Kiety
57 Market Place
Beverley
HU17 8AA
OBJECTIVES AND ACTIVITIES
Objectives and activities
The company's objectives are to establish and fund the bxovision of medical research facilrties for enquiry into
the causes. natural history. p￿vent￿)n. <iiagnosis and treatment of illnesses and diseases of all kinés and to
disseminate the useful results of such research for the benefit of the public. Such facilities wll be developed
for the study of diseases of the heart arKI cancers. ￿th the anlicipatN)n that similar facilities wll be offered lo
other specialist areas of medical research as Ihe centre develops and expands. The truslees have considered
the Charity Commission's guidance on public benefrt and are of the opin￿n that it is futfilled by the tharity's
continued pursuit of 11$ objectives.
Public benefft
The directors have reviewed the activitres of the Charty and confthi that th8y are in accord with tts objectives.
The dire¢tors also eonfirm that the Charrty's aims and objectives fall within the descriptions of purposes section
in the Charities Acl 2011 and are recogni$￿ as tharitable and carried (yjt for the benefit of the puNic al large.
ACHIEVEMENT AND PERFORMANCE
Revlew of the year and future strategy
The Daisy Building Phase 1, whi¢h was t*oughl into use in JU￿ 2008. continues lo fl5￿11. al the anticipated
level of use, the functions envisaged when the Charty was founded. Siled prominenuy al the NHS Castle Hill
Hospital in East Yorkshire. it pro¥￿eS a fwal point for the Put￿1¢ pertspbon of the work of the Charity.
The Phase 2 Proje¢t is lo provide. in conjunction with the NHS. scanning faclities (Phase 2a) and a Moleojlar
Imaging Research Centre (Phase 2b) for both research arKI dinThl applutions. The project involves research
cooperation with both the UnNersty of Hull arKI NHS. with the intention of c¥eating a unique. worfd-class
facility.
The project inwrM)rnles the provision of a PET£T $canniThJ patient Sep41￿ facility. The provision of this
facility, which became fvlly operational in May 2014. now generates income to recover its cost over a period
of 40 years and provides additional funding for the future research actIvr(￿ of the charity.
The a￿eernenI with the AllIar￿ MedKal Ltd specif￿5 defined tvic*Js of time for the use of the scanning
facility for research purposes. Additionally. there ￿ the pat*nt ber*fft of an onstle sL*e-of-th8-art knlity for
clinical trials. as well a5 clinical servKe. ThÉs was not Fyeviousty available in East Yorkshire.
Planning for the Phase 2b proiecl (referred to above) commenced in October 2014. Technical pwoject teams
from the NHS Tnjsl and Universty of Hull are led by three senior employees from those organisalions: one of
whom has taken the role of Proiecl Director. Extemal speualists are engaged to assist as ne￿Ssary. The
Melocular Imagine Research Centre has been almost completed and cyclotron has been instslled although il
is Tr)1 yet operational. This 1$ disappointing from the Charws point of view and the delay has arisen due to
issues with the installatK)n of ducling work ￿thin the building and the supply of other ancillary equipment.
It is"anticipated that a full handover of the building, wll tske place in the thrd quarter of 2024. Tesllng and
commissioning of the equipment will take place after handover.
Page 2

The Hull & East Yorkshir• M•dical Research C•ntr•
Report of the Trustees
for the y•ar •nd•d 30th September 2023
ACHIEVEMENT AND PERFORMANCE
Revlew of the year and future stratryy
The charity, with legal advitk from its so1￿11￿$, ha5 in pl&e all the rttessary propety, financial and
conslruclton agreements and contrxts.
The directors {Iruslees) are satisfied that this project fulfils the Ob￿1Ve and Activitw as defined in the
Memorandum of Association.
The Mole¢ular Imaging Research Centre referred to above will kyovide research beneffts. as well as having
dinical applications. It is. however, dependenl on the sonniTrJ fxilit￿s to enable it to achieve ils full research
potential. The site for this new building is adjacent to the Scannirvj Centre. The close woximity enables the
rnanufaclure an(1 delivery of innovative trac￿$ for injecting into Pat￿nIS. Some of these tracers have a short
lrfe (measured in minutes) before ttw become ineffective. They enable the provish?n of very high-definilion
imaging. and hence patient benefils, whth are not possible at the present bme. The applications incorporate
cancer. cardiac. dementia and Azheim*s KlentfficalKm and treatment. The development al Castle Hill
Hospital will provide a unique opportunity for a truly tran￿at￿)n￿ research wogramme in PET£T imaging.
The Oper￿n9 of the Scanning Centre and plans for Phase 2b. with its attendant wblicty. continues lo have a
very positive effect on the chartys region* profile.
Principal risks and uncertainlies
The construction of the Molecular [m￿ng Researth Centre rs now alrnost complete. The cost of the project
stands al £8.7 million and the charity's assets a￿ ¢ufrenUy in excess of £7 Mill￿n. therefore the main risk to
the charity is bridging this shortfall. It Still ha5 8 number of opk*xtunities to pursue in term5 of fvndraising from
various individuals and institutions and one of the trustees has commltted to underwrits.ng the residual funding
gap that rnight exist in 2024-25when the charity is due to pay ts balance on both the tryJilding and the cyclotron
and ancillwy equipment.
The Iruslees have a duty lo identify and review the risks to which the chanty is exposed and to ensure
appropriate controls are in place to provKle reasonable assurance against fraud and error.
FINANCIAL REVIEW
Reserves and Investment pollcy
Total reseNes of £13.839.716 12022: £12.570,3611 were held by the charity at 30 September 2023. The
balance held as unrestricted funds was £10.811.579 (20Z2.. £9.616.916) of whsch £562,813 is regarded a$ free
reserves, after allowing for fvnds relating to tangibk fLxed assets and investment property.
The balan¢e held as restr¢cted fijnds was £3.028.137 (2022: £2,953,445) ofwhich £34.057 is regarded as free
reserves. after allowing for funds relating to tangible f￿ed assets.
Reserves are accurnulaled until suth time as eX￿JitUre is requwed for capital projects andlor fesearch grant
funding. As in previous years and for the foreseeable fU￿re. all monie$ will be invested as deposits wilh banks
and building societies. i.e. lthv ris
Page 3

Tho Hull & Easl Yorkshlre Medi¢al Rewrch C•ntre
Roport of thè Trust8eg
for the year ended 31)th Soptember 2023
STRUCTURE. GOVERNANCE AND MANAGEMENT
Goveming document
The Hull and East Yorkshire Medical Researcth Centre is a registered and a company limited by
' guarantee, Vrfilhout share ￿PItal. The Charity's g)verning dctumenl is ils Memorandum and Articles of
Assoaation. This restricts its operatsons to dl such lawtul acts as are necessary or incidenlal to the attainment
of its objectives.
Membots of the charltable company
Members of the company. vtho are directors for the purpose of ctynpany law and trustees for the purpose of
charity law. who served during Ihe year and up to the dale of this repcwt are set (Lrt on page 1.
Members ol the charitatle C(￿panY guarantee to contrilNJle an amount not ex(%eding £10 each lo the assels
of the charitable company in the event cl a winding up. The told rwmber of such guaranlees al 30 September
2023 was 9 and al 2022 was 10.
R•crultsnent and appointrnent of new trustoes
The dire¢tors of the company a￿ apw)inted in aCC(Kdan￿ wth the goveming d￿Ment. the ￿MpanY'S
Memorandum aTKI Arbdes of ASK￿lati(￿. The direclcys are all experienced wofessionals of varyirYJ
disciplines, all of which are relevant to the Chanvs aLaivities and requirements.
Policies and Procedurns for the Inductlon and training of n•v In￿t
The charity provides all new trustees wlh the follwng i￿luCtion material: the Charity's LThJvernin9 docLsmenl
and financial inforrnab'on. indudin9 Up-tctrdale atx¥xJnls. together with ex￿anatOry material and recent rninutes
from trustee meetings.
The charity provides supEhJrt and regularfy reviews the devdopment needs of the trustee board to make sure
that all Iruslees are fully acquainted with all matters relating to chanty finan￿. governance and propriety.
Organlsatlonal structurn
The company's directors meet on a quarterfy basis. wtth addition￿ meeting5 convened where circumstsnces
diclale. They are responsitle fty the slrate9ic d￿lS￿)n$ and pN)li(aes of the Charity. At the present time there
are 9 members from rnedical. business and professional backgrounds.
Remunerat1￿ pollcy
All Iruslees give their lime fredy and no trustee renKIn￿a110n was paid in Ihe yew. Details d trustees,
expenses and rdated p¥ty transac11￿S are disdosed in note 25 lo the ae£ounts.
Related parties
The under-mentIon￿ dtrectofs (trustees) are anploy&Y by."
The University of Hull
Prof M J Lind
The re1alK￿5hlP rdates to the research grant awarded to the University aThJ the use andlor potential use of
the Oaisy Researth Facility for charitsble purp05e5.
Hull and East Yorkshire Hospitals NHS Trust
Dr C A RowAaryJ-Hill
The relationship relate5 to the use andlor potential use of the Research Facility for charitsble purposes.

Tho Hull & East YO￿h1r* M￿l¢al Rosearch Cgntro
Report of the Trustees
for tho year •nd•d 30th S•)t0mber 2023
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trustees (who are also the directors of The Hull & East Yc*kshire Medi¢al Research Centre for the
purposes of company lawl a￿ responsible for preparing the Repryt of the trustees and the finan¢ial ststements
in accordance with applicable law and Unried Kingdom Au￿jnI1ng Standards (Unit&J Kingdom Generally
Ac£epted Accounting Practice).
Company law requires the trustees to prepare finar￿JaI statements for each financial year which give a true
and fair view of the stale of affairs of the charitable cg)mpany and of the incoming resources and application of
resoLtrces, induding the income and expenditure. of the charitsble o)mpany that pericrfl. In preparing those
financial statemenis, the trustees are required to
select suitable acc£Juntin9 p￿ICieS and then apply them LVlSiStenUy'
observe the methods and prinoples in Charity SORP,"
make judgements and eslimales that are reasonable and Frudent.
p￿pare the financial staierrents on the gJing concern basis unless il is inapproprrale to presume that
the charitable company ￿11 continue in business.
The Iruslees are respM)nsible f(Y keeF4ng Fryer a(£wntirvJ rec(wds wthich disclose reasonable accuracy
at any time the finanoal position of the chariiable company and lo enable them to ensure that the financial
statements comply with the Companies Act 20C*. Ttw are also responsible for safeguarding the assets of the
charitable company and henc* for taking reasonable steps for the preventKn and detectK)n of fraud and oth
irregularities.
STATEMENT AS TO DISCLOSURE OF INFORMATICX4 TO AUDITORS
In so far as the Irustees are awe..
there is no relevant audit informatmm of the charilable c(Jmpany's auditors are unaware,. and
the trustees have tsken all steps that they oughl io have laken to make themsdves aware of any
rdevanl audit information and lo e5tabli5h that the auditors are avrare of that inf(Kmation.
AUDITORS
The auditors, Smalles Gold￿, wll be prop(wJ fw re-appointn*nt al the f(¥thcx)ming AnThJal General'meeting.
Approved by wder of the trf)ard of trustees on 27 June 2024 and signed on its behatf by".
D.C. Heuck- Trustee
Page 5

Report of the Independent Auditors to the Members of
The Hull & East Yorkshire Medical Research Centre
Oplnlon
We have audited the finan(aal statements of Hull & East Yorkshire Medical Research Centre Ithe'charrtable
company'} and its SUbs￿rarieS (the 'group') for the year ended 30th September 2023 which comprise the
Consolidated Slalement of Financial AcIN1t￿, Balance sheet, Consolidated Cash Fl¢Jw Statement and notes
lo the financial slalemenls. irKJuding a summary of signrfunl ac£ounb'ng pdicies. The financial rep￿tIng
framework that has been apPl￿d in their preparat￿n is applicable law and United Kingdom Accounting
s￿ndards (United Kin9J￿n Generally Accepted Ar£wnting PraGtKe).
In our opinion the financial slatemenls..
gwe a true and fair view of the slate of the group and charitsble rA)mpany's affairs as at 30th September
2023 and of its incomiro resources and application of resources, induding its income and expenditure. for
the year then ended.
have been proOy prepared in acC(Xdar￿e *ith United Generalty Ac£epted Accounting Practice:.
and
have been prepared in accordance with requirements crf the Companies Act and Charities Act
2011.
Basis for opinion
We conducted our audit in accordance with Intemational Standard5 on Auditing (UK) IISAS (UKI) and
appl￿ble law. Our responsibilities urKler those standards are further described in Ihe AUdit¢￿S responsibilities
for the audit of the financial slalemenls section of (Jjr report. We are independent of the group in accordan
with the elhical requirements thal are relevant lo our audit of the finanryal statements in the UK. including the
FRC'S Ethical Standard, and we have fulfilled rAJr (ther ethical responsibili(ies in accordance wlh these
requirements. We believe that the audit evidence have obtain&J is 5Lrfficient and appropriate to provide a
basis for opinitin.
Conclusions relating to going ￿nCeM
We have nothing lo report in respect of the folky••ing matters in relatM)n to which the ISAS (UK) require us to
report to you where".
the trustees. use of the goi￿ eoncem basis of aC(￿nI￿￿ in the preparation of the financial stslements is
not appropriate,. or
the trustees have not disclosed in the financial staleffents any identified material uncertaint￿$ that may
cast signrficant doubl atx)ul the grwp and charitsble c￿MPanY'S ability lo continue to adopt the g(MrKJ
concern basis of accounting for a period of at least Iwelve months frcrfn the date when the financial
slalements are authwse(I for issue.
Other inforniation
The truslees are reswnsible l(¥ the other information. The cAher infom)alion comwises the informab
included in the Re￿t of the Trustees. other than the finanryal statements arml our Report of the independent
audilor's thereon.
Our opinion on the financial slalements does not cover the other information and. except to the extent
otherwise expliutly staled in our report. we do not express any fwn of assurance condusion Ihereon.
In connection with twr autjil of the finanoal stalemenls, (wr responsi￿.1￿ is lo read the other infomiation arNI,
in doing so. consider whether the other infomiation is materially In￿nsistent wth the financial statements or
our knovledge obtained in the audit IN olhewse appears to be materially misstated. If we ¢denlfy suth
material in¢onsislencies or apparent material misstatements. are required to determine whether there is a
material misstalemenl in the financial Stat￿entS or a material misstatement of the other information. If, based
on the work we have performed, we eondude that there is 8 material misstalemenl of this other information,
we are required to report that fact. We have nothing to repc¥t in this regard.
Opinions on other mattevs prescribed by the Companies Act 2006
In our opinion. based on the work undertaken in the ctyjrse of the audit-.
the infomiation given in the Report of ihe Trustees for the finarKaal year for which the financial statements
are prepared is consistent with the financial slalements., and
the Report of the Trustees has been prepared in accKKdance with applicable legal requirements.
Page 6

Report of the Independent Auditors to the Members of
The Hull & East Yorkshire Medical Research Centre
atters on which w¢ aro required lo report by exception
In the light of our kn￿edge arKI understanding of the grojp and charilable company and its environment
obtained in the course of the audit. have not Iden1rf￿ malerBI misslatements in the Report of the Trustees.
We have nothing lo report in respect of the fdlowing matters in relatN)n to Vth￿h the Companies Aci 21YJ6 and
the Charities Act 2011 requires us lo repNI to you rf. in wr opinion..
adequate and sufficient accounling reoyds have not been kept by the parent charitsble company, or
returns adequate for our audit have rK)t been re￿IVed frorn brarthe5 not visited by us: or
the parent charitable company's finanryal statements are not in agreement with the accounting ￿CordS
and ￿tUrnS- or
certain disdosures of truslees. remuneration specffied by law are not made.. or
we have not receNed all the information and explanations require for our audit.
Responsibilities of tvustees
As explained more fijlly in the Statement of Trustees. Responsibililies set out on page fNe. ihe trustees (who
a￿ also the directors of the charitable company fcK the purposes of ￿rnpanY lawl are responsible for the
preparat￿n of the finanaal statements and for being satisfied that they gTve a true and fair view, and for such
internal control as the tnjstees detennine is necessary to enable Ihe preparation of fina￿la1 statements that
are free frLYn malerhql misstalemenL due to tr￿d or err(Y.
In preparing the finanoal statements, the trustees are re5ponsitAe for assessing the grryjp and the charitable
company's ability to continue as a going concern. disclosing. as appluble. matters rdaled lo going concern
arKI using the going concern basis of accounting unless the trustees either intend to liquidate the group andlor
the charitable tsjmpany or to c&8se operal*)ns. or have no realistic allemative but to do so.
Our responsibilities for the awlit ol the financial statements
Our objectives are lo obtain reasonable assurance atxxjt whether thefinanci81 statements as a whole are free
from material misslalemenL whether due to fraud or error. ar￿ to issue an auditor's repcrt that includes our
opinion. Reasonable assurance is a high level of assurance, I￿1 is rrf)t a guarantee that an audit conducted in
accordance wilh ISAS (UK) will aws detect a material misslatemert when it exists. Misstatements can arise
from fraud or err￿ and are considered material if. individually or in the aggregate, they r￿Uld reasonably be
ex￿ed to influence the economic decisions of users taken on the basis of these finanoal statements.
The extent to Nthich wr woeedures are capatAe of del￿ting irregularit￿, induding fraud are detailed below..
Our approach to idenlfying aThJ assessing Ihe risks of material misstaternent in respect of irregularities,
induding fraud and non-com ￿lar￿ with laws and regulations. vras focused on specific laws and regulations
whth we considered may have a direct maI￿al effect on the tharty onfy and consolKlaled financial
statements or the operations ￿ the tharitable company and the grtyJp. induding the Companies Acl 2Th)6, the
Charit￿S Act 2011, data protection, anli-bribery, employment, fvndraising regulations. health and safety
legislation, health and social care regulations and childcare regulations. An understanding of these laws and
ulalions and the extent of compliance was oblained through discuss*>) with managen￿l and inspecling
legal and regulatory oyrespondence.
We asse&8ed the susceptibility ￿ the thariiable company's and cA)nsol￿ated finanual statements to material
mi5Staternent, inclu(Jing obtainirrfJ an understanding of how fraud might cttur. by makn'ng enquiries of
management and considering the intemal L￿trOlS in place to mitigate risks of fraud and non-complian￿ with
laws and regulations.
To address the risk of fraud through management bias and override of controls. we performed analytical
procedures to idenlfy any unusual or unexpected rdationships- tested journal entries lo identfy unusual
transactions; assessed Wheth￿ judgements and assumptions made in delwmining the a￿untIng estimates
were indicative of potential bkts. and invesb"gated the rationale behind siwificant or unusval transaction
Page 7

Report of the Independent Auditors to the Members of
The Hull & East Yorkshire Medical Research Centre .
In response to the risk of irregulariti'es aThJ non-cl￿pIlance wth laws and regulations. we designed procedures
Wh￿ti induded. but were not limited lo agreeing charity only and Consol￿ated financkql statement disclosures
to underlyiThJ supporting dLKyJmenlalion," reading the minutes of ffleelings of those charge{1 wth governan￿.
enquiring of management as to aclual and potential liligalM)n and daim5.' arKI reviewng C￿￿denCe with
HMRC. relevant regulators and the charitatle C￿panY5 legal advisors.
Due lo the inherent limitations of an audrt. there is a risk that we wll not detect all irregularitie5, induding those
leading lo a material misstaternenl in the financial slalements or nork-complpnce wth regulatson. This risk
increases the more that ojmpliance 7Mth a law or re￿lation is removgj from the events and transactions
refiecled in the financial Statements. as we will be less likdy to become aware of instances of non-compliance.
Auditing Standards a150 lirnit the audit procedures required to Klentfy non-compfiance with laws and
regulatsons lo enquiry of the dyectors aThJ olher management arKI the inspectbon of regulal(ry and legal
correspondenc*. if any.
The risk is also greater regarding irregularitses ￿rrIng due to fraud rather than error, as fraud invdves
intentional concealment, forgery, ccAlusM)n. omission. or misrepresentation.
A further descfiplion of our respM)nsibililies fcK the audit of the finanual statements is located on the Financial
Reporting Council's website at.. https'.IlwM.frc.org.uklOur-WorkJAuditlAudil-and-assurancelStandards-and-
guidancelSlandards-and%uidar￿fOr-aUdrtOT$. This de￿p1K)n forms part of (xjr auditorfs report.
Usè of our r•port
This report is made soldy to the charitable company's mernb￿s. as a body. in aC￿rdan￿ wrth Chapler 3 of
Part 16 of the Cornpan￿ P£1 2CKJ6. Our audit has been undertaken so that we mKJht slate to the
charitable company's Iruslees those matters we are rquired to state lo them in an auditor's report and for no
other purpose. To the fullest extent permitted by law. do not accept CK assume responsibility to anyone
other than the charitable company and the charitable o)mpany's trusleesas a bcKly, for our audit work, for this
re￿rt, or for the opmnions ￿￿ have formed.
Luke Taylor 8Sc {Honsl ACA {Senior Stalut(ry Audit￿>
For and on beha￿ of Smalles Goldie
Chartered Accountants
Statulcry Auditor
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 88A
27 June 2024
Page 8

The Hull & East Yorkshir¢ M•dical Research Centre
Consolidated Staternent of Financial Activities
{Incorporating an Income and Expenditure account)
for the year ended 30th September 2023
2023
Total
funds
2022
Totsl
funds
Unrestricted Restricted
fund
nds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
503.807
503,807
216.627
Other Iraijing aclivib.es
Investment incorne
Commwaal trade operations
337
165.617
264.621
337
165,617
2N621
2,758
116,956
250,505
Total
934.382
931382
586,846
EXPENDrruRE ON
Raising funds
Charitable activlties
Medical Research
Commercial trade Operat￿nS
130.948
130,948
124,354
250.520
208.189
64.757
315,277
204,208
215.733
Totsl
589,657
64,757
654,414
544.295
NET INCOMEIIEXPENOITUREI
344.725
{64.7571
279,968
42,551
Gain on investmènt propèrty revaluation
989.387
989.387
471,982
Transfers betwe￿ Funds
(139.449)
139.449
NET MOVEMEKf IN FUNDS
1.194,663
74,692
1,269,355
514.533
RECONCILIATION OF FUNDS
Total funds brought forward
9.616.916
2.953.445 12.570,361
12.055.828
TOTAL FUNDS CARRIED FORWARD
10 811579
3.028.137 13.839.716 12,570,361
The rM)tes fcvm pari of these financial sialements
Page g

The Hull & East YO￿$hIre MediG4 Research C•ntrn {R¢gistered number. IM017833)
Consolldated Balance Sheet
At 30th September 2023
2023
2022
Notes
FIXED ASSETS
Tangible assets
Investrnents
Investment property
14
9,140,221
8.514,053
16
6,991.574
17 121 182 15,505.627
CURRENT ASSETS
Slrtks
Debtors
Cash al bank
6.735
331.990
1.160.302
1,499 027
17
367,034
1.420.116
1.787, 150
CREDITORS
Amounts falling due within one year
18
(1.101.932)
{84S.989)
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
17.518.277 16,446,788
CREDITORS
Amount falling due after more than one year 19
13.578.333) 13,798.333)
PROVISIONS FOR LIABIUTIES
20
(11J0228>
(78,094)
NET ASSETS
13.839.718 72 570 361
FUNDS
Unrestricted funds
Restricted funds
10.811,579
3,028 137
9.616,916
2.953,445
TOTAL FUNDS
13.839.716 12.570,361
These financial Statements have been wepared in accordan￿ the special wovisions of Part 15 of the
Companies Act 2006 rdab'ng to small charitatAe (￿Mpanies.
The financial statements approved by the Board of Trustees on 27 June 2024 and were Signed on its
behalf by..
N Stafftjrd - Trustee
The rK)tes fm part of tl*se finanaal statements
Page 10

The Hull & East Yorkshlve Medlcal Research Centre {Registerod number. 04017833
Charity BalanGe Sheet
At 30th Septgfflbor 2023
2023
2022
FIXED ASSETS
Tangible assets
Investments
Investments
Investment prc4)ety
14
5.284,839
5.019.452
15
16
6.991.574
13,265 801
12,011,027
CURRENT ASSETS
Stocks
Deblcys
Cash al bank
5.099
4.408.185
526,449
4,939,733
17
4,245.360
700.987
4.946.347
CREDITORS
Arnounts falling due Vlithin one
18
(1,081788)
(822.184)
NET CURRENT ASSETS
3.852.945
4,124,163
TOTAL ASSETS LESS CURRENT
LIABILITIES
17.118,746 16,135,190
CREDITORS
ounls falling dtse after m(xe than i)ne
year
19
(3.578.333) {3,798.333)
NET ASSETS
13.S40.413 12.336.857
FUNDS
Unrestricted funds
R8slricled funds
10.512.276
3.028 137
9,383.412
2,953,445
TOTAL FUNDS
13,540.413 12,336.857
These financial statements have been prepared in a¢Crydan￿ wth the special provisions of Part 15 of the
Companies Act 2006 rdatsng to Sm￿1 Charits￿e compantes.
The f1nancial statements were approved by the Board of Tnjstees on 27 June 2024 an(1 were s￿ned its
behalf by..
N Slafford - Truslee
The notes fom part of these finanoal statements
Page11
continued...

The Hull & East yO￿h•re M￿1¢￿ R¢s•arch C•ntre
Consolidated Cash Flow Statement
for the ygar ended 30th September 2023
2023
2022
Nel cash providqd by oporating activitles
502.287
Cash Ilows from Investlng actlvttles:
Purchase of tangible fixed assets
Interest received
Intere51 paid
(808.439)
21.372
13.050,3011
62
137.448
Net cash used In Investlng actlvitles
(1.009.655)
13,187,687>
Cash flow5 from financing actlvlti•s:
Loan drawdown in year
Loan repayments in year
2,200.OLKI
201,667
Change In ¢ash and cash equlvalents In the
reportlng perlod
{259.814J
(485,4001
Cash and cash equivalonts at tho b•ginning
of the reportlng pedod
1420 116
1.905.516
Cagh and cash equivalents at the end of th•
reporting period
1.420 116
The rK)tes forni part of fin*Kial statements
Page 12

Th• Hull & East Yorkshir• Medlcal Re¥¢ar¢h Contr•
Notes to thg Consolidated Cash Flow Statoment
for the y•ar ended 30th Seplember 2023
RECONCILIATION OF NET INCOME TO NEf CASH FLOW FROM OPERATING ACTIVITIES
2023
2022
Net Incoffle for the reportlng perlod {as per the statement of
Ilnan¢ial actlvltles)
279.968
42,551
Adjustments for:
Depreciation charges
Interest received
Interest paid
(In¢￿aSeYDe¢rea$e in stock
{IncreaseyDecrease in debt¢XS
IDeueaseylnGrease in credit(Ys
182.271
(21,372)
222,588
(É.73S)
181,914
1621
137,448
(19,575)
160.011
259.745
Net cash provided by oper*ing activities
951.508
502.287
ANALYSIS OF CHANGES IN NET FUNDS
At
01.10.2022
Cash flow
Al
30.092023
cash
Cash at bank
1,420.116
(259,814)
1.160,302
1,420.116
(259,814) 1,160,302
Debts faiing due wrthin 1 year
Debts falling due after 1 year
1201,6671
1.998,333
(18,333)
220,WO
(220,000>
1.778,333)
2.2W.IXJO
1,998 333)
779.884
The notes form part of these finarKial statements
Page13

The Hull & East Yorkshirè m￿lea7 Research Centre
Notes to the Fin•¢ial Ststornents
for the year ended 30th Septwnb¢r 2023
ACCOUNTING POLICIES
Group and Charity Accounllng Policies
Basis of preparing the financial slatements
The Hull and East Yorkshire Medul Researth Centre is a private company, limited by guarantee.
registered in England ano Wales. The company's registered number and registered office address is
gNen on page 1 of these financial ststements.
The financial statements of the tharitatAe CL)mpany. vthich is a Publ￿ benefit entity under FRS 102.
Have been p￿pared in accordance with the Charities SORP IFRS 102) 'AccounliThJ and Reporting by
charit￿.. Stalwnent of Rec￿rne￿ded Practice applicable lo charit￿ preparing their aeeounls in
accordan￿ wlh the Financial Reporting SlarKJard in the UK and Republic of Ireland IFRS 102)
(effective 1 January 2019).. Finanual Rep(Kting Standard 102 'The Financial Reporting Standard
applicable in the UK and Re￿bI￿ of Ireland, and the Companies Act 2CM)6.
The financial slatements are wepared on a going basis under IF￿ hist(Yical cost convention.
mcKIrfEd lo indude Certain items at fair value. The financial stateff*nls are presented in sterling which
is the fvndional ￿rrencY of the dwity and r￿n￿ed lo the nearest pound.
The si9nfficant aco)unling Fxjlicies applied in the preparati(wt of these financial ststemenls are sel out
below. These [￿1cleS have been consislenuy applied to all Fericrfjs WeSent￿ unless otherwise stated.
The charitable cunpany adopted FRS 102 in the oJrrent year and there has been no effect on Iransilion.
Basis of consolidation
The gr(NJp financ￿1 statements consc4idate Ihe finanrial statements of the Charity and ils subsidiary
undertaking. Daisy Medical Research Limited, at 30 September 2023 using acqUi￿110n accountsng.
Going concem
The trustees. having ¢onsidwa the forecgsts for the peric#J lo 30 September 2025. have a reasonable
expectation that the cornpary has adequate ￿SoUr￿ to continue in operational existence for a period
of 12 months from the dale of approval of these fInar￿01 stalements and therefore have prepared the
financial statements on a going COn￿M basis.
Income
l income is recognised in the Statement of Finanaal Activities once Ihe charity has enlrtlemenl lo the
fvnds, il is probable that the inc4)me wdl be recaved and wt*n the anTh)unl can be measvred reliably.
Donation5 and legacies
Donations and gifts are induded in full in ￿ Statement of Financial Activities when r￿1vable. The
value of serVI￿S provi¢Yed by vdunteers has nol teen induded. Donat&J g(M>Js are induded at the
donated ValUat￿n by the
Grants receivable
Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of
Financial Activities in the year in which they are ￿Nable.
Inv•stm•nt income
Inrnming resources from investmwrts are induded wtsn ￿l¥able.
Expenditure
Expenditure is recognised as SO￿ as is a legal (Y construdive O￿lgatiOn LX)mmitting the charity
to that expenditure. il is probable thal a Iransfer of economic benefrts wll be required in settlement and
the amount d the ot￿igatiOn can be measured reliaiAy. Expenditure is a¢counled fcy on an accruals
basis and has b￿n da$srf￿ under headings Ihat aggregate all expense5 related to the catewry.
Where expenses cannot be direclly attributed lo particular headings, they have been allocated to
activities on a basis consistent Y￿h the use of reswrces.
Irrecoverable VAT is charg&l as an expense against the actNity for which ts expenditure was incJJrred.
Page 14

Tho Hun & East Yorkshire Medical Research Centre
Notes to the Financial Staternents- continued
for the year ended 30th Septefflber 2023
ACCOUNTING POUCIES- conllnued
Exp•ndityre- Mnlinued
Grants offered subject to conditions which have rnt t*en mei at the year-erKI date are noted as 8
commitment bul not acczued as expenditure.
Support costs are those functions that assist the work of the eharity but do not direclly undertake
charitable activities. Support costs include office costs. finance. personnd and governance costs which
support the charities adivities. These ojsls have be￿ all(￿ted beiween cost of raising fund5 and
expenditure ￿ charilable activit￿s.
Tangible fixed assets
Tangible fixed assels are staled at c£tst less aLvJmulated depreciation and acoJmulate(l impairment
105se5. C05t indudes costs directly attributsble to makirKJ the asset capa￿e of operating as intermjed.
Depreciation is provided al the fOFlov￿ry annual rates in order to vffite off each asset over its estimat￿1
useful lrfe.
Plant and machinery ele
- straight line over &10 years
Inv•stmont property
Investment proFerty for which fair value can be reliabty measured are measured at ils fair value at each
rewting date wlh changes recognised in the statemwl of financial aciivities.
Taxation
The charity is exempl from (xxporatK)n tax on its tharitable actrrfities.
Fund accounting
Unrestricted funds are d￿al￿On5 and other incoming reswrces receNa￿e or generated for the objects
of the charily wilhoul fvrther specrfied kxlrpose and are available as genera funds to be used in
accordance with Ihe charitable rtijerAives at the discretion of the trustees.
Restricted fijnds only be used for particJJlar re5trirXed purposes wthin the objects of the charity.
Restrictions arise when Specrf￿l by donor or when funds a￿ ratsed for particular restricted
purposes.
Further exFAanation of the nature and wrrM)se of each fuThJ is I￿￿ded in the notes to the financial
slalemenls.
Debtovs and creditors receivable I payable wlthln one year
Debt(￿ and credrtors ￿th no slate(l inleresl raie and receivable or payable within c￿e Yeara￿ re￿rded
al Iransaction pyice. Any105ses arising fr(Kn impairrrent are re￿nIs￿j in expenditure.
Concessionary loans
COn￿s1Onary loans include those payable to third parties which are interest free or below market
interest rates and are made to advance charitable wrposes. Loans are accounted for in accordance
with the terms of the loan agreement.
DONATIONS AND LEGACIES
2023
Total
fvnds
2022
Total
Funds
Unyestricled Restricted
funds
funds
DonatlQll5
Legacies
118.146
385.661
118.146
385.661
133.384
83,243
503.807
216,627
Page 15

The Hull & East Yorkshire Medical Research Centre
Notes to the Financlal Statements - continued
for thè year ended 30th Seplember 2023
OTHER TRADING ACTMTIES
2023
Tolal
funds
2022
Total
funds
Unrestricted Restricted
funds
funds
Fundraising events
SW income
1.967
791
337
337
337
337
2.758
INVESTMENT INCOME
2023
Total
funds
2022
Total
funds
Unrestricled R•strict•d
funds
funds
Rents received
Deposit account interest
Legacies interest
144245
6,649
5,357
144245
116,894
62
5,357
156.251
116.956
INCOMEI{EXPENDITURE) FROM COMMERCIAL TRADE
OPERATIONS
2023
2022
TURNOVER
Administrative expenses
264.621
250,503
OPERATING PROFIT
Interest r￿e1vable and similar income
78.566
,063
PROFIT ON ORDINARY ACTMTIES BEFORE TAXATION
Tax on profit on ordinary activities
87,933
66,C￿3
PROFIT FOR THE FINANCIAL YEAR
The principal activity of the subsidiary urMlertaknNJ in the year under reviewwas that of medical research
and medical treatment.
RAISING FUNDS
Raising donations and lagacies
2023
Totsl
funds
2022
Total
Funds
Unrestricted Restricted
funds
funds
Sundries
274
274
274
Other trading actlvities
2023
Total
funds
2022
Total
funds
Unrestrlcted Restricted
funds
funds
Purchases
PR costs
Closing Stock
1.033
45.138
5.099
1.033
45.138
17,358
30,064
47.422
Page 16

The Hull & East Yorkshire Medi¢al Resèarch C•ntrn
Notes to the Finallcial Statements- continued
for the year ended 30th Sèplember 2023
RAISING FUNDS- continued
Inv¢slment managgmgnt ￿sts
2023
Totsl
funds
2022
Total
funds
Unrestrlcted Restrlcled
funds
furKIs
Administrative expenses
Maintenance charges
36.050
53,552
36.050
$3.552
23.981
52.677
89.602
89.602
76.658
Aggregate am￿nts
130.948
130.948
124,354
CHARITABLE ACTMTIES COSTS
Grant
fvnding of
activitifts
Support
Direct costs
Total
(So• nots 8)
Medral Research
313.$06
315.277
SUPPORT COSTS
Infomiatson Governance
Flnance Technology
Costs
PAanayement
Totsl
Medical Research
29,186
223.487
313.506
NET INCOMEI(EXPENDtTURE)
Net intA)mel(expenditure) is stated after d￿rgin￿(Cr￿￿1tlng)'.
2023
2022
Auditors. remuneralion - audil sep4ices
Auditors, remuneratDn- non-audil seThiws
Depreciation- (hvned assets
11.501
9.001
182.271
10.235
6.051
181,914
10. TRUSTEE REMUNERATION AND BENEFITS
There was no Iruslees. remuneration Lv Oth￿ ber￿frtS for the year ended 30th September 2023 ncf for
the year ended 30th September 2022.
Truslee expenses
There were no tfuslee expenses paid for the year end&J 30th September 2023 for the year ended
30th September 2022.
Pa9e 17

The Hull & East Yorkshire Medl¢al Research Centre
Notes to the Financial Statements- continued
for the year ended 30th September 2023
11. STAFF COSTS
Group and Charity
2023
2022
Wages and salaries
Social se￿Tty costs
28.877
25,852
28.877
25.852
The average number of wnployees durir•J the year ended 30th Septernber 2023 was 1 (2022: 11.
No employee re￿Ned emduments in excess of £60,(IXI.
12. NET INCOMING RESOURCES OF PARENT CHARrrY
As perrnitted by Sedion 408 of the Companies Act 20(￿. the Statement of Finantsal Activities of the
parent charity is not presented as part of these finanaal stslements. The parent charity's net incoming
resources for the year ended 30 September 2023 totalled £214.169 (2022.. £7.778).
13. COMPARATIVES FOR THE CONSOUDATED STATEMENT OF FINANCIAL ACTIVITIES
Unrnstricted Restricted
fund
funds
Total
funds
INCOME AND ENDOWMENTS FROM
Donations and legac
216.627
216.627
Other trading acltvities
Investment In￿rne
Commeroal trade Opera￿n5
2.758
116.956
250,505
2.758
116.956
250.505
$86.846
Total
EXPENDITURE ON
Raising funds
Charitable aclivilios
Medical Research
Commercial trade operatK)ns
124.354
124.354
134.215
215,733
69.993
215,733
Total
474.302
69.993
NET INCOMEI{EXPENDtruRE)
112.$44
(69.993)
42.551
Gain on investment propety revaluati
471.982
471,982
Transler be￿wn funds
(473.564)
473.564
NET MOVEMENT IN FUNDS
110.962
403.571
514,533
RECONCILIATION OF FUNDS
Total funds brought forward
9,505,954
2,549,874 12 055.828
TOTAL FUNDS CARRIED FORWARD
9.616.916
2.953.445
12,570,361
Page 18

The Hull & East Yorkshire med1￿1 Research Centre
Notes to the Financbal Statements- continued
for the year ended 301h September 2023
1& TANGIBLE FIXED ASSETS
Property
under
construction
Plant and
machinery
Total
GROUP
COST
At 1st October 2022
Additions
5.018.180
264.507
5.554.541
543.932
10.572.721
808,439
At 3(Xh September 2023
5282.687
6,098.473
11.381.160
DEPRECIATION
At 1st October 2022
Charge for year
2.058.66B
182.271
2,058,668
182.271
At 30th September 2023
2.240.939
2.240,939
NET BOOK VALUE
At 30th September 2023
5.282.687
3.857.534
.140,221
At 301h September 2022
S.018.180
3.495.873
8,514,053
CHARITY
COST
At 1 st October 2022
Addil¢ons
5.018.180
264.507
545.718
2.650
5.563.898
267,157
At 30th September 2023
5,282,687
548.368
5.831.055
DEPRECIATION
At 1st October 2022
Charge for year
1,771
1.771
At 30th September 2023
546.216
546,216
NET BOOK VALUE
AI 30th September 2023
5282.667
2,152
S.284.839
At 30th September 2022
5.018.180
1.273
5,019,453
Page 19

The Hull & East Yorkshirè Medical Research Cent
Notes to tho Financial Stat•rn•nts - cmtinued
for the year ended 30th Soplombgr 2023
15. FIXED ASSET INVEs[MEP￿S
Shares in
group
undortakings
CHARITY
MARKET VALUE
At 1st October ￿)22 and 30th Sepiwnber 2023
NET BOOK VALUE
At 30th September 2023
At 301h September 2022
The charity's investrnents at the balance sheet dale in the share capital of companies comprise
the followng..
Daisy Medical Research Llmited
Nature of business.. Medral researth and treatsnent
Class of share..
Ordinary
holdlng
100
2023
2022
Aggregate caixtal and reserves
Profit for the year
299.301
65,798
233,503
16.
INVESTMENT PROPERTY
GROUP AND CHARITY
ARKET VALUE
Al 1st October 2022
Revaluations
6.991.574
989.387
At 30th September 2023
7.980.961
NET 800K VALUE
At 301h September 2023
7,980,961
At 30th Septernber 2022
0.991.574
The market value of investment was assessed by the trustees al 30 September 2023 and is
based on valuat￿n$ undertaken by the Hull and East Yorkshire Hospitals NHS Trust as al 31 March
2023.
Page 21

The Hull & East Yorkshire Medical Research Centre
Notes to the Financial Statements - continued
for the year ended 30th September 2023
17.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
Charity
2023
2023
2W22
2022
Amounts ovRd by gr￿p undertakiros
Other debtors
VAT
Tax
Prepayments and accrued income
4.125.219
3,948,037
14,506
1,978
261.392
19,447
41.152
82.438
1,160
258,732
23,074
245.455
45.383
245,455
331.990
367,034
4,408.185
4,245.360
18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
Charity
2023
2022
2023
2022
Trade creditors
VAT
Accruals and deferred income
Swal security and other lax
Bank loans
Other credito
224.243
12,324
343.976
1.389
220.000
300.1)00
12.384
lo.￿3
320,621
414
201.667
3CKI.(
224243
12.384
341.156
1.389
220,000
300.000
307.719
414
201,667
300,000
1.101.932
845,989
822.184
Indud&J in the above totsl is a108n of £3(KI.1￿) (2022". £3(X).(KKI) is unsecured and interest
free. The loan is n(M repayable on demarnj.
19. CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR
Group
Charity
2023
2023
2022
2022
Other ueditors
Bank loans
1.800.000
1,778,333
1,8TrJ.C
1.998.333
1,800,000
1778,333
1.800.000
1,998,333
3,578.333
3.798.333
3.578 333
3,798,333
Induded in the above total is a loan of £1,8(KJ,(hXJ {2022'. £1.8(M).OCw)) whith is uns￿red. The loan is
repayable in full on 31 December 2035 and interest is payable at 3.5% w annum.
Induded in the above and note 18 is a bank loan totallirKJ £1.998.333 {2022." £2.2(KI,000} repayable by
Monthly instalmenls over a perK)d of 10 years to 2032. Inte￿t is charged at 3.55% over base.
20. PROVISIONS FOR UABIUTIES
Group
Charity
2023
2023
2022
Deferred tax
100.228
78.094
Balance at 1 Cttobw 2022
Charge to statement of financial activities during the y
Balance at 30 Seplember 2023
78,094
22,134
100.228
Page 21

The Hull & East Yorkshire Medical Research Centre
Notes to the Financial Statements . continued
for the year ended 30th September 2023
21. ANALYSIS OF NET ASSETS BETWEEN FUNDS
2023
Totsl
funds
2022
Total
funds
Group
Unrestricted R•strict•d
fund
fvnds
Fixed assets
Investment property
cU￿ent assets
Liabililies
Provisior
3.855.432
9.140.221
8,514,053
7,980,961
7.980.961
6.991.574
1.464.970
34,057
1.499.027
1.787.150
(2.389.$56) (2,290.709) (4.680.265) {4.644.322)
100.228
78,094)
5.284.789
10.811.579
3.028.137 13,839,716
12,570,361
2023
Total
funds
2022
Total
funds
Charity
Unrestricted
furbd
Restricted
funds
Fixed assets
Investments
Investment Pfoperty
Current assets
Liabilities
5,284,789
5384.839
5.019.452
7.980.961
4,905.676
7,980.961
4,939.733
4.66S.121
6.991,574
4,946.347
4,620.517)
057
10.512.276
3.028 137 13.540.413
12.336.857
MOVEMENT IN FUNDS
Incoming Resource5 Revaluation Trnnsfe
At 01.10.22 resourus expended
Gain
between At 30.09.23
Unreslricted funds
General fund
9.616.916
934.382
{589.657)
989.387 {139,449) 10,811.579
Restricted lunds
Medul equrpment
Phase 2
34,057
2.919.388
2.953.445
34,057
139,449 2 994,080
139,449 3.028,137
64.757
{64.7571
TOTAL FUNDS
12,570.361
13,839 716
Medical Equipment fvnd - donations recetved for medical equipment lo be purchased and used for
research.
Phase 2 fund - Funds donat￿ for developrnenl of Phase 2 as explaingj in the tru5tees' ￿port.
934.382
654.414
989.387
Comparative inftxmation in respect d the preceding a$ Id1tr￿.
Incoming Resource5 Revaluation Transfers
At 01.10.21 resources expended
Gain
between At 30.09.22
serves
Unrestri¢ted funds
Generdl fund
9,505,954
586.846 (474,302)
471.982
(473,564) 9,616,916
Rgstricted funds
Medical equipment
Phase 2
34,057
2.515.817
2.549.874
34,057
473.564 2,919,388
473.564 2,953,445
69,993
(69,993>
TOTAL FUNDS
12.055,828 586.846
544.295
471.982
12,570,361
Page 22

Tho Hull & East Yorkshirg PAfjdical Research Centre
Notes to the FIn￿Gla1 Statements - continued
for the year ended 30th September 2023
23. COMMITMENTS
2023
2022
Research building seri￿e L￿Sts
Payable wthin one year
2-5 years
Over 5 years
53.552
214.209
321.314
52.676
210.704
316.056
$89,075
579,436
The research building Servi￿ costs are subpcl to an annual ir￿rease in res￿1 of the Health SeNice
cost index.
The commitments are covered. exceFI a rdalivety srnall amount of irrecoverable VAT, by rental
income rerEwatle C￿ Ihe 2S year lease.
At 30 September 2023 the charitable grwp has a capital commilmefil of £3.634.004 (2022.. £574,004)
which is conlracled bul not provided for in th8 financial stalernents. This 7MII be funded from the charity's
free reserves.
LEASING AGREEMENTS
The investment pr¢)perty is let out lo tenants under OF￿aling ￿se5. At the yew end the Committed
lease r￿ipts due under non-cancdlable leases are as f(AIcMs".
2023
2022
Falling due..
Within one year
Between one and fNe year
Over five years
120,605
482.419
2.075.55
114.873
459.493
2.118.37
2.678.5BO
2,692,74
25. OFF.BALANCE SHEEf ARRANGEMENTS
In the year. Handelsbanken provK1ed an unlimited Inter-company Composite Guarantee by and
between the charity and ils tradiNJ subsidrary. Daisy Medicaj Research Limited.
RELATED PARTY DISCLOSURES
AI 30 September 2023 the charity owed £3￿.(￿￿) (2022: £3W,000), to ? ccwnpary eontrdled by a
trustee of the charity. The fcm of this liabilty is an interest free loan, repayable on demand.
During the year ended 30 September 2023 £50,68612022.. £36.S33) was donated lo the charity from D
Heuck. a tnjstee.
During the year ended 30 Sep1￿ber 2023 £8(NJ (2022.. NIL) was donated to Ihe charity from N Stafford.
a trustee.
There are no further rdated party transactions requiring di%dosure durin9 the year ended 30 September
2023.
Page 23