## ## ## |Honorary|President|President|John Griffin||||| |---|---|---|---|---|---|---|---| |Trustees|||Professo: Robin Kennedy||||MS FRCS —Chair| ||||Mr Bruce Mauleverer|||KC|FCIArb MA —Vice Chair| ||||Ms Kate Forster Chartered||||FCIPD| ||||Professor Anthony||Goldstone CBEFRCP||| ||||Professor Gavin Jell MSc||||PhD PG Cert Ed| ||||Mr Mark (Bertie) Leigh FRCA and FRCPCH FRCOG ad eundem||||| ||||Mr Hugo Robinson||MA FCA —Treasurer||| |Company|number||03445616||||| |Charity number|||1129348||||| |Principal|address|and|Northwick
Park and||St Mark's Hospitals||| |registered|office||Y Block||||| ||||Wafford Road||||| ||||Harrow||||| ||||HA1 3UJ||||| |Auditor|||Knox Cropper LLP||||| ||||65/68 Leadenhall|Street|||| ||||London||||| ||||EC3A 2AD||||| |Bankers|||Lloyds Bank PLC||||| ||||286-288 Station Road||||| ||||Harrow||||| ||||HA1 2EB||||| |Solicitors|||Bates Wells||||| ||||10Queen Street Place||||| ||||London||||| ||||EC4R 1BE||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||4+~
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I—| ## ||||||Group|Group|Charity|Charity| |---|---|---|---|---|---|---|---|---| ||||||2023|2022|2023|2022| |||||||E|6|| |Fixed Assets||||||||| |Tangible Assets||||9|6,617,520|7,041,530|6,617,520|7,041,530| |Intangible
Assets||||10|5,000|5,000||| |Investments
in Subsidiaries|||||||5,000|5,000| |Investments||||12|753,904|753,904|753,904|753,904| ||||||7376424|7800434|7376424|7800434| |Cununt Assets||||||||| |Debtors||||13|392,523|442,805|392,523|442,805| |Cash at Bank and|in|Hand|||396,763|710,119|396,451|709,536| ||||||789286|1 152924|788 974|1 152341| |Creditors: Amounts||Falling Due||||||| |Within One Year||||14|(2,127,746)|(2,027,760)|(2,127,745)|(2,027,760)| |Net Current Assets|||||1338460|874836|I 338771|875'i19| |Total Assets Less Current Uabilities|||||6,037,964|6,925,598|6,046,265|6,925,015| |Creditors: Amounts||Falling Due After|than|||||| |One Year||||15|(2,350,655)|(2,000,807)|(2,350,655)|(2,000,807)| |Net Assets|||||3687309|4 924 791|3686997|4 924 208| |Income Funds||||||||| |Restricted
Funds||||17|152,127|137,045|152,128|137,045| |Designated
Funds||||18||||| |General
Unrestricted||Funds||19|3,532,525|4,784,954|3,534,868|4,787,163| |Total Charity Funds|||||3684 652|4921999|3686996|4924 208| |Minority Interest|Share ofSubsidiary||Net|||||| |Assets||||16|2,657|2,792||| |Total Funds|||||3687309|4 924 791|3686996|4924208| |THE GRIFFIN INSTITUTE INCORPORATED|THE GRIFFIN INSTITUTE INCORPORATED|THE GRIFFIN INSTITUTE INCORPORATED|THE GRIFFIN INSTITUTE INCORPORATED|| |---|---|---|---|---| |CONSOLIDATED||STATEMENT OF|CASH FLOWS|| |FOR THE|YEAR ENDED 32 MARCH 2022|||| ||||2023
E|2022I| |Cash Flows from Operating
Activities||||| |Cash Generated
from/(Used
by) Operations|||(177,454)|775,121| |Investing
Activities||||| |Purchase ofTangible
Fixed Assets|||(36,000)|(461,878)| |Proceeds on Disposal ofTangible
Fixed Assets||||| |Intangible
Additions||||| |Interest Received|||98|1,191| |Net Cash used in Investing
Activities|||35902|460 687| |Financing
Activities||||| |Loans Received/(Repaid)|||(100,000)|(66,667)| |Net Cash Generated
from Financing Activities|||100000|66667| |Net Increase in Cash and Cash Equivalents|||(313,356)|247,767| |Cash and Cash Equivalents
at Beginning ofYear|||710,119|462,352| |Cash and Cash Equivalents
at End of|Year||396763|710119| |Cash Generated
from Operations||||| |Deficit for the Year|||(1,237,482)|(965,927)| |Adjustments
for:||||| |Investment
Income|||(98)|(1,191)| |Fair Value Gains and Losses on Investments||||137,819| |Depreciation
and Impairment
ofTangible|Activities||460,010|513,178| |Loss on Disposal ofTangible
Fixed Assets||||| |Minority Interest Share of Subsidiary
Net Income/Loss||||| |Movement
in Working Capital:||||| |Decrease/(Increase)
in Debtors|||50,282|(201,549)| |Increase/(Decrease)
in Creditors|||549,832|1,292,791| |Cash Generated
from Operations|||177454|775 121| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||Unrestricted|Designated|Restricted|| |---|---|---|---|---|---| |Donations|5.Grants|Funds|Funds|Funds|Total 2023| |Donations|ft Gifts||||| |Voluntary|Donations|114,631|||114,631| |Fundraising|Events|9,416|||9,416| |||124,047|||124,047| |Grants Analysis|||||| |Wolfsen
Unit|||||| |Paste|||||| |Wound
Healing|||||| |Liver and Bowel||||15,000|15,000| |Raft||||89,958|89,958| |||||104,958|104,958| |Donations|and Gifts|124,047|||124,047| |Grants||||104,958|104,958| |||124,047||104'958|229I005| |||Unrestricted|Designated|Restricted|Total| |||Funds|Funds|Funds|2022| |Donations h Gifts|||||| |Voluntary|Donations|14,655||21,912|36,567| |Fundraising|Events|46,651|||46,651| |||61,306||21,912|83,218| |Grants Analysis|||||| |Wolfson
Unit||||1,700|1,700| |Paste||||13,000|13,000| |Wound
Healing||||13,800|13,800| |Liver and|Bowel|||30,000|30,000| |||||58,500|58,500| |Donations|and Gifts|61,306||21,912|83,218| |Grants||||58,500|58,500| |||61,306||80I412|141I718| ## |Charitable
Activities Income|Charitable
Activities Income|Unrestricted|Designated|Restricted|Total| |---|---|---|---|---|---| |||Funds|Funds|Funds|2023| |||||f|f| |Training|Courses and||||| |Facilities||1,748,783|||1,748,783| |Contract|Research Projects|596,878|||596,878| |Other Income|||||| |||2,345,661|||2,345,661| |||Unrestricted|Designated|Restricted|Total| |||Funds|Funds|Funds|2022| ||||||f| |Training|Courses and||||| |Facilities||1,134,928|||1,134,928| |Contract|Research Projects|883,353|||883,353| |Other Income||18,412|||18,412| |||2,036,693|||2,036,693| ## |||||2023|2022| |---|---|---|---|---|---| |||||f|f| |Direct Costs||||2,833,351|2,145,052| |Staff Costs||||1,195,961|990,851| |Support and||Governance|Costs (note 6)|43,887|75,132| |||||4,073,199|3,211,035| |Analysis|by|fund|||| |Unrestricted||Funds||3,983,324|3,096,510| |Designated|Funds||||| |Restricted|Funds|||89,875|114,525| |||||4,073,199|3,211,035| ## ||||||2023|2022| |---|---|---|---|---|---|---| |6|Support and|Governance||Costs|E|F.| ||Audit Fees||||17,425|36,596| ||Legal and Professional||||26,462|38,536| ||||||43,887|75,132| |7|Net income/(expenditure)|||forthe year||| ||||||2023|2022| ||||||E|E| ||This isstated after charging:|||||| ||Depreciation||||460,010|513,178| ||Lease rental|payments|for|premises||| ||Auditors'
Remuneration,|||||| ||Prior Year|||||12,943| ||Current Year||||17,425|23,654| ## ## |2023|2022| |---|---| |No.|No.| |9|Tangible|Fixed| |---|---|---| ||Assets|| |Group and Charity|||Flxtllres/|| |---|---|---|---|---| ||Leasehold|Plant la|Fittings L|| ||Improvements|Machinery|Equipment|Total| ||E||E|| |Cost||||| |At 1April 2022|9,364,651|1,618,889||10,983,540| |Additions||36,000||36,000| |Disposals||||| |Transfers||||| |At 31 March 2023|9,364,651|1,654,889||11,019,540| |Depreciation||||| |At 1 April 2022|2,496,068|1,445,943||3,942,011| |Charge for the year|408,185|51,824||460,009| |Disposals||||| |At 31 March 2023|2,904,253|1,497,767||4,402,020| |Net BookValue||||| |At 31 March 2023|6,460,398|157,122||6,617,520| |At 31 March 2022|6,868,583|172,946||7,041,529| ## |Cost|| |---|---| |At April 2022|5,000| |Additions|| |At March 2023|5,000| |The intangibles|relate to patents as part of Griffin Paste Research.| ## ## ||||2023|2022| |---|---|---|---|---| ||||E|E| |Profit and loss||||| |Turnover||||| |Expenditure|||(271)|(124,270)| |Loss|||(271)|(124,270)| |Balance sheet||||| |Intangible
Fixed|Assets||5,000|5,000| |Current Assets|||312|583| |Total Net Assets|||5,312|5,583| |Called up Share|Capital|—Griffin||| |Paste Research|Ltd||100|100| |Share Premium|||254,900|254,900| |Profit and Loss|||(249,688)|(249,417)| ||||5,312|5,583| |The Charity's
share of||||| |Net Assets is|||2657|2791| ## |12|Fixed|Asset Investments|Asset Investments|Asset Investments||||||Unlisted|Unlisted|| |---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||||||Investments
f||Totalf| ||Cost or valuation|||||||||||| ||At I April|2022|||||||||753,904|753,904| ||Revaluations|||||||||||| ||At 31 March 2023||||||||||753,904|753,904| ||Carrying|amount||||||||||| ||At 31 March 2022||||||||||753,904|753,904| ||At 31 March 2023||||||||||753,904|753,904| |||||||||||2023||2022| ||||||||||||f|| ||Investments
at Fair||Value Comprise:|||||||||| ||Videregen|Ltd|||||||||726,681|864,500| ||Proterris|Inc|||||||||27,223|27,223| ||||||||||||753,904|891,723| ||Details ofthe Institute's|||unlisted|investments|||at 31March||2023are|as|| ||follows:|||||||||||| ||Name of|Undertaking|8|Nature||of business||||Class ofshares||% Held| ||Location|||||||||||| ||Videregen|Ltd - UK||Development|||of|Stem Cell||Ordinary||13.30%| |||||Organ||Regeneration||||Shares||| |||||medicine||||||||| ||Proterris|Inc - USA||Clinical||Development|||of|Common
Stock||0.47%| |||||Therapeutic|||Applications|||||| |aluati|ons
for the abo|ve holdings
were provided
directly|by Videregen
Ltd and Proterris|Inc.| |---|---|---|---|---| |13|Debtors||2023|2022| ||Trade Debtors||336,855|362,495| ||Prepayments|and Accrued Income|55 668|80310| ||||392 523|442 805| ## ## |||Group|Group|Charity|Charity 2022| |---|---|---|---|---|---| |||2023|2022|2023|| |||E|E||| |Trade creditors||492,537|494,948|492,537|494,948| |CBILS Loan (note||100,000|100,000|100,000|100,000| |15)|||||| |Other creditors||283,885|367,331|283,885|367,331| |Accruals|ik||||| |Deferred|Income*|1,251,324|1,065,481|1,251,324|1,065,481| |||2,127,746|2,027,760|2I127,746|2,027,760| ## |Credi|tors:
Amounts
Falling Due After|More Than One Year|| |---|---|---|---| |||Group|Group| |||2023|2022| |Trade|creditors (see below)|2,117,322|1,667,474| |CBILS|Loan (see below)|233 333|333 333| |||2,350,655|2,000,807| |y July 2|026.||||| |---|---|---|---|---|---| |16|Minority Interest|Share ofSubsidiary|Net Assets||| |||||Group|Total| |||||E|| ||Cost or valuation||||| ||At 31March 2021||||2I792| ||Share capital issued||||| ||Share premium
issued||||| ||Net income/(loss)|for the period|||(135)| ||At 31 March 2022||||2,657| |||||||THE GRIFFIN INSTITUTE|THE GRIFFIN INSTITUTE||| |---|---|---|---|---|---|---|---|---|---| ||||||NOTES TO THE FINANCIAL STATEMENTS||||| ||||||FOR THE YEAR ENDED||31MARCH 2023||| |17||Restricted||Funds|Balance||||Balance| ||||||At 1April||||At 31March| ||||||2022|||Transfers|2023| ||||||E|||E|F.| |Dr LTurner-Stokes|||||52,796||(23,458)||29,338| |Tropical||Diseases Prevention|||||||| |Unit|||||||||| |iCourse|administration|||service|2,044||||2,044| |illlr Lamont OBS|||and|Gynae|||||| |lResearch||Funds|||21,727||(3,798)||17,929| |Dr Mouyis|||||3,967||||3,967| |Wound|Healing||Project||10,460||||10,460| |iRAFT|||||(3,524)|89,958|(62,619)||23,815| |Bowel|||||27,026|15,000|||42,026| |spital|Equipment||||22 548||||22 548| ||||||137044|104958|89875||152 127| |Restricted
Funds|||||||||| ||||||Balance||||Balance| ||||||at||||At 31| ||||||1April|Income|Expenditure|Transfers|March| ||||||2021||||2022| ||||||E||||E| |Wolfson||Unit|||850|1,700|(2,550)||| |Dr LTurner-Stokes|||||46,519|17,912|(11,635)||52,797| |Course|administration|||service|2,044||||2,044| |Mr Lamont OBS|||and|Gynae|21,727||||21,727| |Research||Funds|||||||| |Dr Mouyis|||||3,967||||3,967| |Wound|Healing||Project||29,871|11,800|(31,211)||10,460| ||||||61,229||(64,753)||(3,524)| |Bowel||||||30,000|(2,974)||27,026| |Capital|Equipment||||4 95D|19 DDD|~1402||22 548| ||||||171157|807412|(1147525)||137,045| |||||||35|||| ## ## |||||Balance at||||Balance at| |---|---|---|---|---|---|---|---|---| |||||1Apr|Incoming|Resources||31Mar| |Group &||Charity||2022|Resources|Expended
f|Transfers
f|2023
f| |Leasehold||Improvements||||||| |||||Balance at||||Balance at| |||||1April|Incoming|Resources||31Mar| |Group &||Charity||2021
f|Resources
f|Expended
F.|Transfers|2022| |Leasehold||Improvements||||||| |19|Unrestricted|||||||| |Funds||||||||| |||||Balance||||Balance at| |||||at 1April|Incoming|Resources||31Mar| |||||2022|Resources|Expended|Transfers|2023| |Group||||||f||| |General|Unrestricted||Funds|4,784,954|2,740,106|(3,992,535)||3,532,525| |Minority||Interest Share of Sub||2,792||(135)||2,657| |Net Income||||||||| |||||4 787 746|2 740 1D6|3992670||3535 182| |||||Balance||||Balance at| |||||atlApr|Incoming|Resources||31Mar| |||||2021|Resources
f|Expended
f|Transfers|2022
f| |General|Unrestricted||Funds|5,654,634|2,324,621|(3,194,301)||4,784,954| |Minority||Interest Share of Sub||||||| |Net Income||||64 927||62 135||2 792| |||||5 719561|2 324 621|3256436||4 787 746| |||||Balance||||Balance at| |||||at 1April|Incoming|Resources||31Mar| |Charity
General||Unrestricted|Funds|2022
f
4 787 163|Resources
f
2 74D 1D6|Expended
~3992400|Transfers
F.|2023
f
3534 868| |||||4 787 163|2 740 1D6|3992400||3534 868| |||||Balance||||Balance at| |||||at 1April|Incoming|Resources||31Mar| |||||2021
f|Resources
f|Expended
f|Transfers
f|2022
f| |General||Unrestricted|Funds|5,594,708|2,324,621|(3,132,166)||4,787,163| |||||5,594,708|2,324,621|(3,132,166)||4,787,163| ## ## |20
Analysis ofNet Assets Betw|een Funds|||| |---|---|---|---|---| |Group|Unrestricb. d|Designated|Restricted|| ||funds|Funds|Funds|Total| |Fund balances
held at 31 March 23are||||| |represented
by:||||| |Tangible assets|6,617,520|||6,617,520| |Intangible
assets|5,000|||5,000| |Investments|753,904|||753,904| |Current assets/(liabilities)|(1,490,587)||152,128|(1,338,459)| |Long term Liabilities|(2,350,655)|||(2,350,655)| ||3,535,182||152,128|3,687,310| |Group|Unrestricted|Designated|Restricb:d|| ||funds|Funds|Funds|Total| ||E||E|E| |Fund balances
held at 31 March 22 are||||| |represented
by:||||| |Tangible assets|7,041,530|||7,041,530| |Intangible
assets|5,000|||5,000| |Investments|753,904|||753,904| |Current assets/(liabilities)|(1~011~880)||137,044|(874,836)| |Long term Liabilities|2 000 807|||2 000 807| ||4,787,747||137,044|4,924,791| ## ## ## ## ## ##