REGISTERED COMPANY NUMBER: 04569174{Ewknnd and Wales) REGISTERED CHARITY MVMBER.. IIIX>154 REPORTOFTHE TRUSTEES AND FINANaAL STATEMENT5 FOR THE YEAR ENfKD Ji ocfoBtR 2023 CURE LEUKAEMIA J W Hlnk5 LLP Chartered Accountants and StatutoryAudltors 19 Hl8hfleld Road Ed8baston Blrrnlngham West Mldland5 815 3BH CURE LEUKAEMIA CONTENTS OFThE FINANaAL5TATEMEP FOR THE YEAR ENDED 31 OCTOBER Z023 chAIrn￿'s Report R•port of the Tru5t•¢s 2 to 12 R•w* ol the INl•p•nd•nt Audltors 13 to 16 St•t•m•nt of Flnancl•l ArtI￿tI 17 B•lJfi¢•ShE•t 18 Cash FIDwStat•m 19 Notestoth• C•th Flow Stit•m•nt 20 Not•sto the FIMncl•l Stat•m•n 21 to 33 CURE LEUKAEMIA CHAIRMAN'S REPORT FOR THEYEAR ENDEO 31 OCTOBER 2023 Busine55 Update During 2023 Curé Leukaemla made sfj8nlficant ￿08￿$5 in 5ts strategy to tran$ilion from a national to an internatlonal charlty. wlth internatlonal renown. A malor part of the 5trate8y was the fundlnR and support of a r*w mutuallsed trlal éellvery £ompany* Acc¢leratlng Cllnlcal Trlals IACTI whlch was e5tab115hed durlng 2022 and whlch sees Cure Leukaemla work In collaborotlon wlth NHS8T INHS Blood and Transplant) and other keyor8anlsaiions ènd cllnlcians from the UK haemèto-onco108ycommunty. Thls collaboratlon has seen good 8rowth In 2023 and was noted In the O'shaughnessy Report that Acr provlded an Innovatlve approach to truly transform pertormance in the area of advanced dru8 trials. From a clln5col perspectlve, the TAP Network loes from strength to siren8th wlth InnDVatlve new trlal treatments becomlng available and as a consequent result Cure Leukèernia'5 Standln8 wlth5n the UK haemato-on£olo8y Communltv gntlnue5 to grow and Is Increa5In8the new opportunltles that are becomln$ available to us. We cont5nue to develop £losÈr relatlonshlps wlth 811 of our Rèsearch Nurses across ihe 15 Centre5 predorn5nantly rewltln8frorn face-to-face Interactlon w￿h them all through gur Tour of the TAP runnlng challenges and ILKal events. However, we are also mlndful that we will always be a patient centrk charlty but wlth a commercSal approach lotussed on developln8 alternatlve revenue/fundral$ln8 routes whlch wlll requlre a great brand rEPUtatlon, Innovatlve Idea5, and excellent Customer 5ervlce. We are preilomlnantly focu55ed on emperlentlal event5 wlth Indlvldua15 •nd partner5 thai 8lve a "feel good effect and produce long lastlng relatlonship5 w*th people and companies which wlll help w5th our plans for more community-based fundralslng. Durlng 2023 we expanded our participatlon In events In cycllng, fwtball, rnarathons, and 5uPI￿rt for local communlty events. Thls ￿SUked In luTrdra15Ing from events 8rowln8 by an 5fflpres5￿e 21% durin8 20231£2,63m vs £2.17ml, however tgtal lundra15ing only Increased by 7.5%1£2.88m v5 E2.68ml due to a reductloTh In donatlon5 and le8acles and a tlming issue on an expected Brant. Summary From a cllnlcal and fundralslng perspectfve there is a lot for u5 to be proud of and a lot to look forward to In 2024 as ACT help5 to develop and lrnprove the UK'S reputatlon as a centre of excellence for accelerated dru8 trlaI5 and we 51gnlflcantly Increase our fundralsin8 capabilltv. However, we cannot afford to be tornplacent. and the chaI￿n8e Is there lor the year ahead to deliver another year of sl8nlflcant growth. A5 ever. I would like to rhank Board of Trustee5. our CEO Jarnes McLaughlln. and h15 team for all thelr efforts th55 Page I CURE LEUKAEMIA IREGISTEREO NUMBER: 04WJ1741 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2023 The trustees who are a150 director$ of the charlty f%)r the purposes of the Companies Art 2006, p￿sent thelr report wlth the financial Statements of the charity for the year ended 31 October 2023. The trustees have Idopted the provlslons of Accounting and Rerh)rring by Charities.. Statement of Recommended Prnctlce appllcable to charltles preparing their accounts In accordance with the Flnanclal Reportln8 5tandJrd appllcable In the UK and RÈpubllc of Ireland IFRS 1021 leffectwe l January 20191. OBJECTIVES AND AcnviTIÉS Oblertlvqs •nd alrns P￿rp.0$e on.O.Aim_s_ Curt Leukaen)ia's obSects and prlnclpal a£tivltles a￿ to help prDvidc rcllcf to person J 4uffcrln6 frDm leukaem13 and to underta*e ￿searCh into the causes, preventlon and treatment of leuk3emla and to pub11511 ili¥ uselul result5 01 such research. Ensvrln&o.v_r workd.gIl￿rs oulms_ We revlew our alms, oblectlves and actlvbtles each year. Thls revlew looks at what we achieved aThd the outcomes of our work In the pre¥lous 12 rnofiths. The review look5 at the success of each key activity and the benefirs they have brou8ht to those group5 of people vle are Set up to help. The revlew 3150 help5 U5 to ensure that our alm, obiectlves and actlvltles remalned focused on our stated purposos. We have referred to the guldance contalned In the Charlty Cornmlsslon's 8eneral 8u5dance on public benelfft whers miewlng our aims and objectlves and In plannlng our futu￿ actlvltles, In partlcular. the trustees conslder how planned actlvltles wlll contrlbute iothe alms and objectlves they have set. Ib focu5 ofAur work The focu5 of the charlty contlnues to be the provlsion of help to prov5de relief to persons SLJfferlng from leukaemlJ and to undertake research Into the causes, preventlon and ireatment of leukaemla and to publlsh the useful results of such research. In orderto 3chle¥e It5 objects the charlty has continued to adopt the followln8 Strate6lc oblectlves. ro fund the provis5on of new theraples 3nd treatrr*nts for leukaemla patlent5 across the Unlted Kln8dom, To enable sclentlsts and cllnlclans to work even c105er t4etherto develop new treaiments for leukaemla. To provlde an Informatlon and resource centre lor leukaemla. To prov5de support 8roups for leukaernia patients and thelrfamllSe5. To establish an endowrnent to fund thls work overthe next 10 years. Grantmaki The charity ￿VIeWSYarlO￿5 or¥anlsatlons and Indlviduals who support and éellver the charlt¥l5 objects. Potential ￿c5pIents of grants paid by the charlty are revlewed by the Charity on a case by case basis dependin8 upon the avallable ￿SOUrCeS of the charity. PaBe 2 CURE LEUKAEMIA (REGISTERED NUMBER: (145691741 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 ocfoBER 2023 ACHIEVEMENT AND PERFORMANCE Developments, •ctl¥ltle$ and ichiev•Y¥ents theyejr How our actlvl[Ips_¢_ellver pvbllc bE.ngfil. Our maln actbvltle5 and who we try to help a￿ described below. All ol our charltable activitles locus on our I￿1￿¥ to help provlde relief to persons sufferlng from leukaem5a and to undertake research into the causes, p￿ventIOn and treatment of ￿Ukaern1a through the use of th8 lacllFts'e5 available to the charlty. Events strnteBy It Ss important that we continue to 8row our core event5 by Increased partlclpatlon but also increase the breadth and depth ol the type and number of events that we put on. Durln8 2023 we rnade 518nlflcant progress In expandln8 our core events. Cycllng rernaln5 Qur CO￿ experlentlal event and our Tour de France event The Tour 21. saw 20 amateur c￿lISt$ ccmplete all 21 sta8es of the Tour de France as part of our partnershlp wlth Amaury Sports Or8a1115atk)n IASOI. The event to date has rè15ed over £920,000 wlth plan5 beln8 made to ensure that the team passes the £lmllllon mark. The event wa5 once a8aln covered by NBC Sports as part ol a flve-part documentary broadcast Sn the and ès a result of this partnershlp. there were nlne Amerlcan-based cyc115ts who took on the challenge for the charFty in 2023. Once a8ain, I would Ilke to congratulate all the r5der5 and the support crew In takln8 on such a chalknge and for ralsln8 such a 5I8nlflcant sum that underpln5 our overall fundr4lsin8. As ever, thank you to our many sponsors that supported the rlder5 in their quest to ralse £l.ODD,OTrJ. We were once again able to run our London 2 Parls blke ride in June wlth 150 cyc115ts takln8 part In what Is a tOU8h and en￿lSOnal challenge for the rnalorfty ol the rlders. The events create a famity type atmosphere that people love and also ralsed £150.￿0. A5 a ￿sU11 of these events and our contlnued en8a8ement wkh the centre5 we fund, we laUnC￿d a new Tour of the TAP cycle challenge lor 2023. We are also expanding our foetball experlences and our mlxed Bender Copa del Cure Leukaemla corporate football tournament ra15ed £20,000 and early Intlication5 have been very posltlve lor the 2024 verslon of the event wlth 90% 01 teams having confirmed thelr retum to the event. We also launched a flrst ever feMale￿nIV ver51on of the event whlch took place In March 2023 wlth former profess+onals such as Sue 5rn￿h and Fara Willl3m5 taklng part. The event wa5 a hu8e success and ha5 sold out lur the uptornln8 2024 event. Lastly. we have launched a comrnunlty 5tfate&y to eftcourn8e and 5UPWrt k)cal Inltlatives. p￿d￿MInantlY based around the TAP centres. a good example Is the Kiddermlnster communlty who have rolsed c105e to £20,000 for the chorlty throu8h local walks. Page 3 CURE LEUKAEMIA IREG15TERED NUMBER: 045691741 REPOAT OF THE TRUSTEE5 FOR THE YEAR ENDED 31 O￿OBER 2023 FINANCIAL REVIEW Flnandal position The Staternent of Flnanclal Activitiès shows Rross Income of £2,879,253 12022.. £2.677.0581 and expenEllture of £3.020,683 12022,. £1,347.9711 before reallsed and unrea115ed 8alns and losses on frAed asset investments lor the year ended 31 OctOL￿r 2023. The charlty's Income and expendlture lor the year ended 31 October 2019 to the year ended 31 odober 2023 15 summarised as follows.. 2019 2020 2021 2022 2023 Donatlons and leiacles Grants and trusts Investment Incom2 Fundra151n8 evènts Inei of cost of entsl 289,241 iio.000 16.931 46,641 121.250 11,537 105,744 297,5( 9,571 267,925 230,500 73,571 160,000 18,098 996,835 79,453 897,947 1,118,296 1.299,099 Totil In¢om• (Mt of ¢ost of ev*ntsl Other costs ol fundraisin8 I,413,￿7 258,881 1,292,765 1.625,529 1,550,768 553,349 545,498 430,449 612,384 669,997 N•t Income Governance and support CQ5ts 859.658 158,737 1286,6171 190.937 862,316 166,995 1,013.145 270,099 880,771 243,852 N¢t monle5 r•lsed Used for charltable purpose5 7O),921 1,089.686 1477,5541 1288,0001 695,321 652,957 743,046 478,827 636,919 786,777 Surplus I Idellcltl in year 1388.7651 1189,5541 42,364 264.219 1149,8581 •lance uirled I0￿0rd 461,720 272,166 314,530 578.749 428,891 Key rat105 FundraI51ng tosts to total Income (net of cost of events) 39.2Y6 211.0% 33.3% 37.7% 43.2% Governance ènd support Costs to net income 18.5% -66.6% 19.3% 26.7% 27.7% The resèfyes are prlrnartly to cover the development and future runnlng expenses of all aspects of the charl¢y and the present level ol funding 15 Consldered to be adequate to supporr the contlnuatlon of our e¥lstlni attivities, A5 hlghlighted In the Bu51ness Update, the overall picturt of a 7.5% increase In Net Monles raised is positive. However. it is important to note that the hlgher 8rowth In events fund raislng121%1 was partlally offset by a $58r¢ificant reduction in le8acSe5 and donèibns. We also saw an Incr8ase in event related fundraising ctssts 120%) which can largely be attrlbuted to the 5igThIf￿nt Increase in both the s12e and Thumber of Events. It Is reco8ni5ed however that some of these costs a￿ investment in the future when we exFeCt to See participation Increase. Page 4 aiRE LEUKAEMIAIREGISTERED NUMBER,. 045691741 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 ocfoBER 2023 Our overall expend￿Ure for the year increased by 29% due to both the fundraSslnB Costs ￿￿tIoned a￿ve and Increased 8rantfundlng127%1 for the TAP cent￿5 which is our core functlon and therefore shouPd be seen as good pro8res$. Invtstment pollw and oblertfves The charlty has adopted an Inve¥meni policy totry and achieve thefollowlng two flnanclal objectwes. To generate a sustainable ￿tUrn on 5nvestments uslng a cautlous investment approach. If posslble, wlthin the charlty's overall cautlous approach to Investments. to ensure (hèt the charlty's Investments are sufflcieni to rneet any obll8atlons the charlty has to funé research nurses expenditure. The charty has also adopted an ethlcal approach to Investments. As a re5uIt. no Investrnents are to be made by the charlty In busine55es Involved In tradlng In alcohol, tobacco. pornography, armaments or 8arnblln8 or In buslnesses that are Involved In anlmal abuse. human rlghts abuse or Jctfvkits thatdo not take Into account the sanct5ty ol Ilfe, A¢ser¥es poll¢v The charlty would like to malntaln unfestrlctèd lund5 not committed or invested In tanglble fsxed asseis. which are the free reserves of the charlty, at a level whlch equates to *tween 6 and 12 months unre5trlcted expendlture. Thi5 provldes sufflclent funds to cover mana8emenr and admlnlstratlon and support Costs. Thls a5m has to ￿ evaluated a8ain5t the objects of the charity and thelr lulfilmènt. Page S CURE IEUKAEMIA IREGISTERED NUMBER: IJ45691741 REPORTOF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2023 FUTURE PLANS. CREATING A SuST￿NA8LÉ FUTURE From an event perspective. we have signed an agreement with ASO, (who own The Tour de Francel to extend our partnership fora further three year5. In addrtlon to beln8 the UK Charlty Partner of the Tour de Fran￿ we wlll a150 Èecorne the off5¢lal UK charity partner of the new Tour de Frènce Femmes cycle event (the female equfvalent ol the Tour de France), and the official UK charity of the La Vuelta de Espana121 sts8e5 across Spalnl. A5 3 result of thi5 partner5hlp, we are nDW far better placed to diverslfy our cycllng offerlng a5 8 charlty and help to de-rlsk rhe financial pressure of The Tour 21 vla events such a5 Paris Roubalx. Our London 2 Paris event lor 2024 Is sold out wlth 200 rlders 518ned up wlth 4 record number of new rlders and record number ol female r4der5 due to take part. We alKJ now have thÈ ablllty to take part In a nurnber of natlonal marathons. from London to Paris and New York, tO8etherwlth a stron8 focus on wpportln8 local runnlni and walklng events in 2024. These Inittstlve5 ar* especlally plejglng wlth the charlty needln8 to ront1n￿ to Ilnd new sUPP)rt natlonally and Internatlonalty. However, we know we have to glve more breadth Ind depth to our lundrilsSn8, and we are establishlng a Corporate Develop￿nt 8oard to help tar8et and ra51or proposlt5cffj5 to companles that we believe are ernpathetK to our cause whll$t kJoklnR to aliAn wlth the5r bus5nessand ESG values. Thls Inll4tlve wlll play a major role in supportlng our new £Sm appeal to set up Paediatrfc centres acr055 the UK to help support new dru8 trla15 for children. Thè recently released 'HATE Campaign" has recelved strong endorsemeni and wlll play a central role In the apptal. We also have recently been chosen to be the UK Charlty Partntr for Flutter whlch should see a 5ignlflcant boost to our fundial$ln8 for 2024 the5r S,WO empbyees. One key partnershlp whlch wlll underpln our future plan5 Is wlth the world's number one CRM provider Saleslorce. We wlll be Implementln8 thelr system In the coming months and hove been chosen a5 their offlclal ￿rtner for their World Tour event whlch seesthem hosi I1,1￿ Saleslorce customers at thelr showcase annual event. $TRVffURE, GOVERNANCE AND MANAGEMENT Go¥emln8dowm•nl Cure Leukaemia Is a company limited by guarantee I￿15tered lft England and Wales number 11001541 incorporated on 22 October 2002 ond was glven registered charhable status on 20 October 2004 under the Charit￿$ Act 1993 Icharlty re8i5tration number 45691741. The 8overnln8 documents of the company a￿ It5 rnernorandum and ankles of asxKiètion. Page 6 CURE IEUKAEMIA IREG15TERED NUMBER: 045691741 REPORTOF THETRU5TEES FOR THE YEAR ENDED 31 OCTOBER 2013 STRUCTURE, GOVERNANCE ANO MANAGEMEfrIT Re¢rultment and appointmént of new tNstees Appointments a￿ made to the board of trustees ￿marIlY wfjth a vlew to enhancln8 the rnana8ernent expertlse ol thè charity, A new trustee wlll be supplled with copie5 of the charlty's memorandum and artlcle5 of aswclatlon, prfof mlnutes and accounts, an organisation charr and staff handbook. The appolntment of trustees 15 undertaken by appllcatlon and approval by the managernent committee. Thè elertlon of the management tommlttee and e￿CtIOnS to offlTrrs of the charftv take ￿aCe at each Annual General MeetlnB. All trustees 8lve thelr tlme voluntarlly and ￿ce￿e no befieflts from the charlty. Any expenses recpalmed from the charlty are setout In the notes to the financlal stalements. Page 7 CURE LEUKAEMIA IREGISTERED NUMBER: 045691741 REPOBTOF THÉ TRUSTEES FOR THE YEAR ENOED Ji ocfoBER 2023 STRUCTURE, GOVERNANCE AND WINAGEMENT Ory•nlsotlonal strutture and dKislon makl The d5rectors of the charitsble company are it5 trusteesfor the purposes of charity law. The charltsble company 1$ 8overned by a board ol trustee5. The responslblllty for thé day to day operation ol the chbrita￿e company Iles wlth the staff team who are employed by the charTrtsb￿ compèny and are re5pon51ble to the trustees. The mana8ernent commlttee of trustees meet regularly. retaln full and effective control over the tharitable companv and monStor the executl¥e mana8er5. 8eln& non-exe¢utive dlrectors they bring afi inde￿n0ent judgement to bear on i¥>y¢S tsl Sirè￿8y, performance ènd resour￿$, Includlng key appolntmentsand standard5 of conduct. Ooard of Ch Executlve Executfve Asslsrant Commun Co-ordlnator Tru5t5 aThd Foundètlons Executive Head ol Finance and Operat10Th5 Head of Sports Events Cornmunlcatlons Manager Heod ol Spon50rshlp Events Manager Content ExeC￿￿e Cure Leukaemla has a ph11050phy of malntaSnln8 a lean and effoctwe organlsètlon 5UPPOrted by efflclent outslde partner5 to provlde the maximum return on the fundraislng ané sponsor5hlp5 from people and companles who bellevt In u5. Of course a5 the charlty grows we need to make consldeTed Investment In the or8anlsatl¢)n. Durln8 2023 there were a number ol changes with new starter5 joinin8 the CL team, Includln8 a full time Head of Fln3nce and Operatlons, who w111 be key In managing the costs, 5nvestment, and flnancièl effect of our fundra15in8 initlatlves for future growth. For thE year ahead, when and where approprlète, we wlll be lookin8 to further add io the or8anisatSon at both at an executive and board level to ensure we contlnue to maxlmlse the opportunities are trRcoming avallable to U5 as a natlonal charlty wtth amb￿10￿5 growth plans. Indurflon •nd tra5nlng ot nèwtmitegs Trusrees are Involved in on80ing general and specific training according to their area5 of responsibility. Page 8 CURE LEUKAEMIA IREGISTERED NUMBEA: ts15691741 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2025 STRUCTUAE, GOVERNANCE ANO MANAGEMENT Key manAiement remuneration In the tru5tees' opinlon, the key management ￿rsOnnel of the charity responslble for directing* contrdlin& runnln8 and operatin8the charrty on a daytoday basis cons15t5 of the Board ol Trustees and the Chief Executlve. nn te All trustees8lve ol their time freely Ind no trustee recefved rem1tnerat￿Jn durin8 the year. Deta115 of tru5tee5' exwnses and related party tran53Ctlons are dlsclosed in the notes tothe f]nanclal staternents. RY.maDaKemery¢.pprwnnRI-£ttIRL£¥£¢vifve The pay ol the charity's senlor sraff is revlewed annually and normalty In¢￿aSed based upon the posltlon of the chartty's flnance5 and the c05t of15vin8 in general. In vlew of the nature of the charity, the trustees benchmark pay levels In other slmllar orKanlsatlons of a slmilar slze. Rlsk rnanoiement The trustee5 have a duty to Identlfy and revlew the rlsks to whlch the charlty Is exposed and to ensure approprlaie Controls are In place to provlde reasgnable assurance a6alnst fraud and error. The trustees have a rlsk management strategy that comprlses the followlng. An annual revlew of the rlsk5 that the charlty may face. The establlshmènt of 5YStems and procedures to rnltl8ate those rlsks Identrfled. The lrnplernentatlon of procedures deslgned to mlnlmise any potentlal Impart on the charlty $hould those rlsks materla115e. The trustees areol the oplnlon that there are no malor rlsks to whlch the charfty Is tXPJ5ed. Fundralsln8 s¢•fid•rds Infom•tlon The maI￿lty DI our income come5 from vduntary donatlons from our supporters. Through the fundralsln6 elforts of our staff, Volunteerg and supporters we are generatin8 the ffnancial resources io enable us io provide our 5ervlces. We have a wlde portfollo of fundraisSn8 actlvltiès to generate voluntary don•tions towards the 5er¥lces we provlde. Our Board of Trustee5 is deeply commttted to bullding relation5hlps and trust wilh our SUPPDrter5 and is commftred to the stren8thenln8 of oversight and assurance concerning our fundral$ln8 programrnes and in ensurin8 compliance and best practlce sn these area5. We are partlculady aware of the need to protett vulnerable Indlvlduals In any fvndra151ng we undertake. We cont5nue to be committed to addressin8 any expression of dlssatlsfactlon on the part of our supporters and to exarnining ways to Improve the levels of our 5ervlce to them. REFEIIENCE AND ADMIN15TRATNE DETAILS Reglstered Company number 04569174 IEngl?nd and Wales Ae81Ster￿ Charlty numb•r IIW154 PaBe 9 CURE LEUKAEMIA IREGISTEREO NUMOER.. 045691741 REPORTOF THE TRUSTEES FOR THE YEAR ENDEO al OCTOBER 2023 R•8lstered office 27 6irrnin8hèm st￿et Oldbury West Mldlands r46q 4F7 Trusi•es G W Couslns MAShaw Professor C F Craddctk CBE DrGEDPratt RJ Turnbull L M Shoaf L Hllton P M Whileh￿d M D Doolln A Owens Jcmuiphy SMHope Chalrman TreaSu￿r Reslgned 18 October 2023 Re￿8rted 18 October ZV23 Appo5nted 18 Ortober ?0?.4 P M Whltehead, A Owens and J C Murphy wlll retlre by rotstbn at the Annu•l fjeneral Meetlni. 5 M H¢)pe wlll bt also be subject to reolectlon at the Annual General Meetin8. Company Sffretary KAHJones Audllo J W Hlnks LLP Charte￿d Accountant5 and Statutory Audltor5 19 Hl¥hfleld Road Ed8baston BlrmSngham West Mldlands B15 3BH Sollcltors Silk5 Sollcltor5 Lirnited Barclay5 Bank Chamber5 27 Birmln8ham Street Oldbury West Mldlands 869 4EZ Page 10 CURE LEUKAEMIA (REGISTERED NUMBER.. 045691741 REPORT OF THE TRUSTEES FOR THE YEAR ENDEO 31 ocfoBER 2023 REFERENU AND ADMINISTRAMIE DETAILS Banker5 HSBC 130 New st￿ 8lrmiTh8ham We$t Midland5 B2 4JU Investment M•napr FORM Financial Clarlty Limlted No.1 The Paddock5 Impney Estate Droltwich Worce5tershlre WR9 OBL Chlef E¥e¢4rt1v J W Mc&u8hlln LIAgILITY OF THE MEMBER5 No trustee ha5 any beneflclal Interest in the chadtable company. The liablllty ol the rnembers 15 Ilmited to thtlr guaranree. In the event ol the company beln8 wound up dur5n8 the perlod ol thelr membershlp, ￿￿mEer5 undertake to gntrlbute such amount as may be requlred not exceedlng £lCI. srATEMENTOF TRUSTEES, RESPONSIBILITIES The trustees Iwho are also the dlrectors of Cure Leukaemla for the purposes of company lawl a￿ respon51ble for prefMdn8 the Annual Report and the financial 5taternent5 In accordance with ¥ppllcable law and Unlted Kingdom Accountln8 Standards Iunlted Kingdorn Generalty Accepted Accountlng Practice) Includln8 Financlal Reporting Standard 102 The Flnanclal Reportlng siandard applicable In the UK and Republlc of Ireland" Cgmpany law requ1￿$ the trustee5 to prepare fSnanclal stsiements for each flnanclal year whlch 8l¥e a true and falr ¥lew of the state ol affalrs ol the charitable company and of the Incomlng resources and appllcatlon of resources, Includln the income and expendlturè, of the charitstsle company lor that perbd. In preparlng thost flnanclal statement5, the trustee5 are requlred to select sultable af4llln8 due wlthin ono yoar 15 1608,9221 1608,9??) NETCURRENT ASSETS 274N20 274,020 267.889 TOTALASSETS LESS CURRENT LIABILITIES 428091 428￿91 578,749 NEfASSETSIILIA81LITIESI 428,891 428A91 578,749 FUNOS Unrestrfcted funds 17 428A91 578,749 TOTAL FUNDS 428.891 578,749 These flnancSal statements have teen prepared In occordance with the wovlslons appllcablÈ to charltèble companles sublect to the small companles re8ime. The flnanclal statements were ?pproved by the Board gf Tru5tee5 and authorlsed for Issue ¢)n 28 February 2024 and wère s18ned on its behalf bv.. G W Couslns- Trusteè C F Craddock C&E- Trustee The notes fom) parr of these financial statemenrs Page 18 CURE LEUKAEMIA CASH FLOW STATEMENT FOR THE YEAR ENDED 31 ocfoBEA 2023 2023 2022 Notes Cash Ilowsfrom opertlng artlvltles Cash genèrated from operatlon5 1641.Y181 13C6,5071 Net Ush used in operat1naacti￿tIeS 1641,9181 1306,5071 Caih Irom Invert1￿4￿1vIIIes Purchase of fixed asset Inve5tment5 Sale of flxed asset Investments Interest recelved Olvldend5 rece￿ed 1254M61 393.739 9231 8￿67 1245,4051 242,937 1,645 7,163 Net cash prodlded by Inve5tln8 actfvltles 157,231 ChaNde In c•sh 4nd cMhequl¥alents In t reportlry p•rtod Cash ¢¥sh equl¥•l•nts it the b•ilnnln8 of lh• r•portln8 perlod 1484,6871 1300,1671 636ts27 936.694 Cash •nd cash equlv•l•nts •t th• •nd of th• reportln8 p•rlod 151 636,527 The notesfomi part of these ftnancial staternent5 Page 19 CURE LEUKAEMIA NOTES TOTHE CASH FLOWSTATEMENT FOR THE YEAR ENDED 31 ocfoBER 2023 RECONCILIAnoN OF NET IEXPENDITUREIIINCOME TO NETCASH FLOW FROM opeRATING AcfiviTIES 2023 2022 Net leKPtndltUfelllncomelorthe rqportlry pFrfod l•$ pef thestaternent ol Fln•n¢lo1 ActI￿tIes) Adjustments for Losses on investments Interesr received Dlvldend5 received Increase In debtors Dec￿aSe In credltors 1149.8581 264.219 8A28 19,2311 18,8671 1107,6191 lJ74,7711 64,868 11.6451 17,1631 1363,9361 1262.8501 N•t c•sh u>ed In op•ritlons 1641,9181 13g6,5071 ANALYSIS OF CHANGÉS IN NET FUND5 At 1.11.22 Cash flow At 31.10.23 Net tssh Cash at bank 636,527 1484.6871 151W+ 636,527 1484,6871 151140 Tot•1 6J6.S27 1484,687 151WO The notes Form part of these flnancial 5taternent5 Page 20 CURE LEUKAEMIA NOTES TO THE FINANCIAL STATEMENTS FOR THE VEAR ENDED 31 ocfoBER 1023 ACCOUNT114G POLICIES GENeRAL INFOAMAMON AND BASIS OF PRÉPARING THE FINANOAL STATEMENTS Gen•r•l lThform•tlon Cure Leukaemla Is a charlty Incorporated In England ènd Wales. The add￿$5 of the charlty's Q8lstered offlce Is 27 8irrnlnBham Street, Oldbury, West Midlands, 869 4EZ. ACcoUn￿￿<0￿¥¢￿tl0n The Ilnènclal statements of the charity, which is a publlc benefit entity under FRS 102, have been prepared In accordance wlth the Charltle$ 50RP IFRS 1021 "Accounting and Reportlng Charlties.. Statemenl Recomrnended Practke appllcable to charltle5 p￿parIng thelr accounts In accordance wlth the Flnanclal Reportlng Standard appllcable In the Unlted Kln8Llom and Republlc ol Ireland IFRS 1021.. Flnanclal Reportlng Standard 102 The Flnanclal Reportln8 Standard appllcable In the UK ènd Republlc ol Ireland. the Companies Act 2C4)6 and the Charltle5 Act 2011, The linanclal statements have teen prePa￿d u51ng the hlsiorlc cost conventlon as rnodlfled by the revaluatlon ol nvestments and a￿ presented In sterlin8 whith 5s the functional currency of the charlty. rovnded to the nearest £1. The 51gnlflcènt accountlng pollces applled In the preparation of these financlal statement5 are set out below. These pollcles have been consSstenily ipplled to all years presented unless otherwlse stated. COMPAVIV STATUS The charlty 15 a company Ilmlted by guarantee. The membels of the charltable company a￿ the trustees named in the Report of the Trustees, In the event ol the tharlty bÈln8 wound up the liabillty In resPKt ol the guarantee 15 Ilmited to £10 per member of the charity. GOING CONCERN The flninclal 5taternents have been prepared on a £oln8 Concern basls as the tiustees belleve that no materlal Un￿rtaInt[e5 eM15t. The trustee5 have consldered the level of funds held and the expected level ol Income and expendlture lor 12 months from authorlsin8 these flnanclal staternent5. The expected level ol Incorne and expend5ture is 5ufflcSent wlth the level ol reserves for the charlty to ?bleto continue as a 8olrsg cOn￿rn. INCOME All incorne Is reco8n15ed In the Statement ol Financial Actlvltles once ihe charlty has entltlement to the funds, It Is probable that the ir¥cDme will ￿ received and the amount can be measured rel&bly. Dofiatlon5 (except In re13tlon to legaclesl are accounted lor when recelvable. Il the￿ a￿ conditions attached to the donation and thls requlres a level of ￿rtOrn)ènte before entltlernent can be obtslned then Incorne Is deferred until those conditlons 3¥e fully met or ihe fuwllment of those condltlons Is wlthin the control of the charlty and It 15 probable that they wlll be fulfilled. Incorne from pecunlary legacies Is recognised where Brant of probate has been received and ineome frorn re5iduary legacie5 15 recogni5ed where estate èccount5 have been Iinallsed. Income from wills w reverslonary trusts of property is not reco£nised until the lrfe interest ha5 Pa55ed away and the property sale is at an advanced Stage. Income from all other legacles Is only woenlsed where the￿ is clear entitlement, the arnount can be accurately MeaSu￿d and the￿ reasonable probabllity of recelpt. The recelpt ol legacles Is considered probable when FKobate ha5 been granted. It has been emabllshed ihat there a￿ sufftient net a￿et5 to pay the legacy and any conditions attached to the legacy have been met or are under the control of Cure LeukaemSa. Page 21 contlnued... CURE LEUKAEMIA NOTES TO THE FINANCIAL STATEMENTS- contSnued FOR ThE YEAR ENDED 31 OCTOBER 202J ACCOUNTING POLICIES- ￿￿tInUed INCOME The char5ty recelves grants from other thlrd partie5 In respect of its artivltles. Grani income Is recognised at fair value when the charlty has entitlement after any performance conditions have been met. it is probable that the ncome w511 receNèd and the amount can be measured reliably. If entltlement Is fiot met ihen these amounts are deferred, Income recelved from fvndfalslng aCt￿ltIeS organlsed by indNlduals of volunteer 6roups operatlnB from outslde of the charlty's control Is recognlsed whefi recel¥able, Investment Income Is earned throu8h holdln8 a55¢t5 for Investment purposes such as shares. It Indudes dlvldencls and Interest receN3b￿. whe￿ It Is not practicable to ideniify investmeni management cost5 Incurred wlthln è scheme with ￿aSon￿ble accuracy. imie5tment income 15 repDrted net of these c05ts. It is included when the amount can be measured reliably. Interest Income is reco8nlsed usln8 the effective Interest rate method and dlvldend 5ntorne Is retO8nlsed as the charlty's rlEhtto reCe￿e payment15 establlshed, The Value for 8lfts In klnd, donated serylces and donated faciiiile5 are estlrnated and included In the perbd In whlch thèy are recelved. In accordance wlth Charltles SORP IFR5 10218eneral volunteer tlme Is not recognlsed. EXPENDITURE LlobllltloJf are rccognffAd ar oxpondlture as soon as ihere Is 8 108al or con$trurtlv• obllgatSon comrnlttin8 the char5ty to that expenditure, it Is wobable that a transfer of economic beneflts wlll be requlred in Sett￿ment and the amount of the obli8ètion can be meaSU￿d rellably. Expenditure is accounted lor on an 8ccruèls basls ènd has beEn classifSe(J under heading5 that a88re8ate all cosi related to the category. Where costs cannot be d*￿ttlY attributed to part¢£ular headlngs they hove been allocated to actlvltles on a basls cons15tent wlth the use ol resources. Expendlture on ralsln8 lunds Includes expendltkbre Incurred sn raising donations and legac1es. other tradln8 actlvities and 5nvestment mana8ement costs These costs are ￿8arded as necessary to generate lund5 that are needed to finance charIta￿e actlvltles. Charitable actlvltle5 expenditure enable5 the £harity to meet Its charfIa￿e almsand oblectlves. Support tosts are those that ass15t wlth the work ol thE charfty but do not dlrectty represent charltable actlvitlES and include offlce costs, govemanre costs and other admlnistrètlve costs. Grants oflered subject to condftlons which have not been at the year end date are noted as a commitment but not accrued as expendlture. TAXATION The charfty isèxempt from corporation tax on +ts charltable act￿￿t*S. FUND ACCOUNTING General funds are unre5tricled funds whlch a￿ avall3ble for use at the d15cretion of the tru5tee$ In furtherance of the general oblectlves of the charityand which have not been deslgnated for other purposes Designated funds comprfse unrestrlcted lundsthat have been set aside bythe trustees for particular purposes. Page 22 continued... CURE LEUKAEMIA NOTESTO THE FINAfrICIALSTATEMENTS- contlnu•d FOR THE YEAR ENDED 31 OCTOBEA 2023 ACCOUNTING POUOES- contlwed FUND ACCOIINTING Restrlcted funds are funt15 whlch are to ￿ used In accordance wlth speclflc restrlctk)ns Imposed by donors or whKh have been ralsed by the charty for partlcular purposes. The costs of ralsln8 and admlnlsterln8 such funds re char8ed a8ainst the speclflc fund. Further explanatlon of the nature and purwse of each fvnd is included In the note5 to the Rnancial statements. FIW4NaAL INSTRUMENTS The charlty only has flnanclal a55ets and fTnanclal Iiablllt*s of a klnd that quallfy as ba51c flnanclal Instrument5. a51c flnanclal Instruments are Inltlally rec08fi￿ed at trafisactlon value and sub5eguently meo5u¥ed at amortlsed co$t. CIIITICAL ACCOUNTING ESTIMATES AND IUDGÉMENTS In the application of the charlty's accouThtin8 policles. the ¢rustees are ￿QuIred to make Sud8emeftts, èstlmates and assumptions about the carryin8 amount of a55ets and liabilities that are not ￿adIty apparent from other sources. The e5tlrnates and underlyln8 ossumptlons are revlewed on an on8oln8 basls. Revlslon5 to accountlng estlmates a￿ reco8nlsed in the perlod In whlch the e5tlmate Is rev15ed where the revlsbn èffects only that period or In thé perbd of the wlslon and futu￿ perlods where the revlslon affect5 Èoth current and future perlods. FOREIGf4 CURRENaES A55et5 and Ilabilitles In forelgn currencles a￿ translated Into sterlln8 at the ratès of exchan8e rulln8 at the balance sheet date. Transactbns In lorelgn currencles are translated into sterlinB at the rate of exchange rulln8 t the date of transactlon. Exchange dillèrence5 are taken Into account In arrlvlngat the operatln8 result. CASH AND CASH EQUWALENTS Cash and cash equivalents Include cash In hand and dep￿lts held at call wFth bank5. OPERATING LEASES Rentals payable under operatlng leases are charged a8•lnst Income on a stralght Ilne ba51$ over the perkjd of the lease. INVESTMENTS Investments a￿ reco8nlsed Inltlally at fair value which Is normally the transaction price e¥cludinE transaction costs. Subsequently, they a￿ measured at falr value with change5 recognlsed In 'net 8ainslllosse51 Dn investrnent5" In the Statement of Flnènclal Artlvltles If the investment5 are publlcly traded or thelr falr valve can otherwise be MeaSu￿d ￿lIably. EMPLOYEE BENEFITS When emplgyee5 have iendèred service to the charlty, short-term employee benefi¢S to which the employees re entitled are reco8nisÈd at the undi5counted arnount expected to paid in exchange for that service. Termlnatlon benefits a￿ recoBni$ed irnmEdiately as an expense when the charlty Is demonstrats￿ comrvitted to iem)inate thè employment of an employee orto provlde termlnation benefrts. Page 23 continued.. CURE LEUKAEMIA NOTESTO THE FINANCIAL STATEMENTS. contlnu8d FOR THE YEAR ENDED 31 OCTOBER 1023 ACCOUNTING PQUCIES- contSnuqd CASH AND CASH EQUIVALENTS GOVERNMEpif GRANTS Govemment grants a￿ ￿¢0&nIsed at the falr value of the asset recelved or ￿￿[Vable when there Is reasonable assurance th8t the 8rant ronditior45 will bc mct and the arants wlll be received. A grant that 5Fecifies performance conditknn5 15 recc%nised in income when the FerfomBncè condltions a￿ met. Where a grant does not specify performance condltions It 15 recognised In Income when the proceed5 are recelved or r￿e1Vable. Aorant recelved before the reco8nttlon cr5tcrfo ore satlsficd Is rcco8nlsed as a IL7bI1￿y. OONATIOT4S ANO LEGACIES 2013 2022 Donations and g1ft5 1 ?8aclp 73,571 85,S94 182,331 73,571 267,925 OTHER TRADING AcnwnES 2023 2022 Fundralsln6 events 2,6Z7,584 2,169.825 INVESTMENT INCOME 2023 2022 Quoted flxed jsstt Inve5tm•nts DepJ51t account Inte￿$t 8867 9311 7.163 1,645 18,098 B,808 Page 24 continued... CURE iEUKAEMIA PIOTES TO THE FINANCIALSTATEMENTS- contlnued FOR THEYEAR ENDED 31 ocfoBER 2023 INCOME FROM CHARITABLEACTMTIES 2023 2022 tNItv Grant5 receivable Grants 160,000 230,500 Grant5 recelved. Included In the atjove, ère as follow5- Unre5trfcted fvnds Re5tfltt•d bjnds zozl 2022 The Syncona Foundatlon The Garfleld Weston Foundatlo The Eveson Chafltable Trust Thè 29th May 1961 Charltable Trust T K Maxx Trust I50￿00 150ml Ic1].￿0 100,000 20,000 10,000 500 100 10A￿0 160.OIXI 160,000 230.5(KI RAISING FUNDS RAISING OONATIONS AND LEGAOES 2013 2022 Atlvertlsln8 Webslte development Other voluntary Income costs 34.5S2 12.OZ6 33.674 26,657 8,024 27,977 80.252 62.658 OTHER TRADING AcfiviTIES 2013 2022 Event costs Staff costs 1.328,485 589,745 1.051,529 549,726 1.918,230 1.601,255 Page 25 contlnued... CURE LEUKAEMIA NOTES TO THE FINANCIALSTATEMENTS- contlnwd FOR THE YEAR ENDED31 ocfo8ER 101> RA151NG FUNDS- ¢ontlnued INVESTMENT MANAGEMENT COSTS 2023 2022 Portfollo mana8ement 5,598 6,208 A88re8ate arkKJunts 1,670,121 CHARITABLE AcfiviTIES COSTS Grant liindine nf Support cost515ee note 91 (see note Totals Wa8es Insuran£e Postage and $tstlonery Sundrlès Travel empenses TelephoThe Staff tralnin Computer conwmablts Grant5 PaYa￿e otrice utilities Legal and professlonal lees Release of grant commltments 26,217 6,873 i4￿9 14,917 24,1 18,515 7,596 17.997 16.217 6,873 14,889 14.917 24,WO IB,515 7,S96 17.997 878,193 42,975 55.847 191A161 878.193 42,975 SS,847 191A161 786,777 I19￿26 1.016,603 GRANTS PAYABLE 2023 2022 Grant5 payable Release ol grant cornrnltrnent5 878,193 191.4161 693,C#)O 1214,1731 786,777 478,827 Durlng the year ended 31 OctDber 2023 the charity mède the followln8 grants in order tp contrlbute toward5 the fundlng of leukaemla research programmes and toward5the care of patient5 5ufferin8from ￿Ukaern$a. Paee 26 ontinved... CURE LEUKAEMIA NOTES TOTHE FINANtIALSTATEMENTS. Mntlnued FOR THE YEAR ENDED 31 0￿06ER 2023 GRANTS PAYABLE- contlnued Totsl 8rants payable to Instltutions durin8 the year were a5 follow5.. 2023 2022 Nurslrycllnlclans Unlversity Hospitals Blrmin8hom Worcester Hospltal 171,7891 20,￿0 Re8lonal reswrch nur Direct TAP network ènd SL4PPOrt Accelerètln8 Clinlcal Trfa15 Llrn￿ed IACTI 530,616 728,193 786.777 478,827 Grants payable are charged In the year when the ¢￿er Is conveyed to the reclplent Èxcept in those cases where the offer Is condltlonal, such 8rants toln8 recoBn15ed a5 expenditure when the conditions are fulfilled. SUPPORTCOSTS Support costs are those costs that have been Incurred by the charlty In order to further the contlnuod development of the charity's fundrèlsin8 and charltable actlvltles. AUOITOAS, REMUNERAnON 2023 2022 Fees payable to the charlty's a￿d￿Or$ forthe audlt of the charlty's finantlal statements Other non4udlt setvlces 7.624 1,554 7.320 1.414 ii. TRIISTEES, REMUNEAATION AND BENEFITS There were no tru5tee5' remuneratlon or other benefits for the year ended 31 October 2023 nor for the year ended 31 Ortober 2022. TRUSTÉES. EXPENSES There were no trustees, èxpense5 pald for the year ended 31 October 2023 nor for the VEar ended 31 October 202Z. Page 27 contlnued.. CURE LEUKAEMIA NOTES TOTHE FINANCIAL5TATEMENTS. ￿l￿1￿￿•d FOR THE VEAR ENDED 31 ocfoBER 1023 12. STAFF COSTS 2022 Wages and salarles Soclal wurlty costs Other penslon costs 557,040 520.421 47,301 7.504 8.828 615,962 575.226 The 8vera8e monthly number of employees durlrKqthe yoar was a5 follow5.. 1023 2022 MonJioment and admlnlvtrnlkjn Thp numter of employees whose employee beneffts leicludln8 employer peThslon c05tsl exceeded £60,¢￿ wa$.. 2023 2022 £140,001- £150,1)Jo £150.001- £160,￿0 Page 28 contlnued... CURE LEUKAEMIA NOTESTO THE FINANCIAL sfATEMENT5-comlnued FOR THÉ YÉAR ENDED 31 IxfoBER 2023 13. FIXED ASSET INVESTMENTS 2022 Market value at l Novernber 2022 Addltions at cost Sale proceeds on dlsposal Reallsed and unreèllsed Iloss118aln In the year Z97326 49.564 1187.5291 180281 368,536 111,379 1117.8211 164,8681 Market value at 31 October 2023 Cash on depJ51t a5 at 31 October 2023 150135 4,038 297,226 13,634 Total marketvalue ol Investments as at 31 ￿tober 2023 154A71 310,860 Hlstorft cost at 31 Ortoljer 2023 170,083 330.931 ANALYSISOF114VESTMENTS zoiJ 2022 UK quoted equltle$and bonds Non-UK quoted equkle5 bonds 131.589 19,144 268,463 28,763 150M31 4.038 297.226 13,634 Cash hèld lor relnvestrnent 154171 310,860 14. OEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Other debtors Prepayments 695,913 35,189 519,892 95,163 731,102 615,055 Page 29 continued... CURE LEVKAEMIA NOTE5 TOTHE FINANCIALSTATEMENTS-£ontln￿I FOR THE YEAR ENDED 31 ocfoBER 2023 15. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Sodal securliv and othertsxe5 Other credttors Actruals and deferred Income 8,620 584.642 15,660 11.781 964,592 7.320 608,922 983.693 16. LEASINGAGREEMENYS At 31 October 2023 the charlty h8d outstanding commitments for future mlnlmum lease payrnents under non 173,2961 114,361 TOTAL FUNDS 5,556,311 15.368,6541 173,2961 114.361 Purpose ol funds Unre5tric¢ed General Fvnd The General Fund represents the surplus free fund5 of the chorlty that are not desSgnated for partlcuL4r purposes ond therefore available for the aim5 and oblectlve5 of the charlty. 18. EMPLOYEE BENEFITOBUGAnoNS The charlty 0￿rateS a deflned contrlbutlon scheme for the b8neflt of the employee5. The a55tts of the schem8 arè admlnlstered by trustees In a fund Independent from ihose of the charlty. The total contrlbutlons wld In the year èmounted to £8,82812022'. E7,5041. 19. RELATED PARTY D￿CLOSURE$ Ilt￿OIS Llmth. K A H Jones, the chèrlty's company Sécretary, also serves as a partner and dlrector In a legal flrm called Sllks Sollcitors Llrn￿ed. DurlnB the year ended 31 October 2023 the charlty Incurred charges totalllng £6,46312022.. £17,923) from 511ks 5ollcltors L5mlted for company seC￿larial and other legal w￿k whlch were provided under norrn31 Comw￿rc￿a term5. Oover HR Ser¥ltss timh•d M Ooolin. one of the director trustee5 of the cha¥ity, also serves as a director in the compony called Clover HR Services Limlted. During the year ended 31 October 2C23 the charlty Incurred charges totallin8 £14,370 12022.. £12,360> frorn Clover HR Services Lirnited for HR and other governance work which were provided under normal comrnèrcial terrn5. A¢celorat1￿a1nlcal Trlals Llmlted C F Craddock and G W Cousln5, d1￿ctOr trustees of the charlty. also served as directors in the company called celeratln8 Cllnical Trials LiTnitEd. Page 32 ontinueij... CURE LEUKAEMIA NOTESTOTHE FINANCIAL $TATEMEpifs. contlnu•d FOR THE YEAR ENDED 31 OCTOBÉR 2023 19. RELATED OISCLOSURES- ci>ntlnued As at 31 Oaober 2023 an amount of £NII12022.. £33.1931 remalned due to the charlty from Atceleratin8 CllTrical Trfa15 Llmlted. Durfng the year ended 31 October 2023 an amount of £728,193 12022.. £nlll was pald ty the charfty to Acceleratlng Cllnkal Trials Lirnited In resFeCt of grants to fund leukaemla research. 20. ULTIMATE CONTROILIIIG P The charlty Is under rhe control of its trx)ard ol dlrertors. who are the trustees of the charlty, and who ar• spon51ble to the rnembers of the companv. Page 33