london InthtElor mat1tiCS¢TS pL(tyJntstheyr¢red3l Deeembgr2010 2020 Accounts London Institute for Mathematical Sciences Re81stered company no. 06814771 Reelstered charity no. 1139814 Other narne5 l(rf0n Irtstitute; LIMS AÈ8istered addre55 21 Albemarle Streei. London. W154BS Solicitors Eversheds. I Wood St. London EC2V 7WS Independent exan1in15 TCGroup. The Courtyard, Shoreham Aoèd. Upper Beedin& 5teynin8. West Su$5x. 8N44 3TN Acharile company Ilmlted by 8u¥antee www.lim&ac.uk DrThDmas Fink IMana8ing Dlrertorl Slr RoyAnder50n. FRS Slrjohn Beddin8ton. FRS Dome Shirley Porter Iresigned 18 Jan 20201 Martin Reeves Sir Peter 4Yilliams. FRS Ireslgned 22 Oct 20201 Trustee5' report and unaudited financial statements forthe al ended 31 Derymber2020 Trurtee< report Notes to the fInarla1 sratements Independent Examinerfs Report N.1 Company ststus N.2 AccrMJnting polics N.3 Golng concem Income N.5 Expendi N.6 Net incorne & expenditu N.7 Tangible fixed assets Investments Statement of FlnarKial Actmties Balancesheet ILI N.9 Debtors N.10 Credifor5 N.11 Restricted and unrestrirted funds N.12 Anafy5is of net assets between funds N.13 Related party tr3nsattion5 N.14 Openting lease commttmènts N.15 Comparatrye statement of financlal activltles fof theyear ended 31 Dec 2019 io li li li li A47RJ7XF
157
C(YIPANIES HIJJSE
london In#teforknaCaI S(knes A(C(lIS1orerethd31 OetembEr20ZO l Trustees, annual report This report 15 lor the year endin8 31 December 2020. In 2020 the iondlm Institute recrUId a Office Manager and Head of Grdnts. VittoTiJ HarTistin. who ab50 took thaT¥e of our mD¥e to the Royal Institution. dE5uibed below. The Institute took stock of its numerous researth partnets. now shown on its web51te. It ha5 had jolnt research 8rants wlth over 50 unlversltles and Insututes Irom 17 countrle5. a testsment of a global reach that belies its 1.1 Objective and activities Objetttiv The Institute'5 oblertlvels toadvance res?zrch for the pubtic benefli by mainta1n1r an Independent researth institute for physlcs, mathematics and the theoretlcal Scien$. t scbpnti5ts can devote ihemselve5 lull-time to researth. Move to the Royal Institution For the last 5e¥eral years. the London Imtitute has occupied fivtrllwrtownhou5e on Thornas Goode estate in Maylair. HovR¥er. 5irte our recognition as an Independent Research Oan153t10n by UKRI. we have betn on the lookout for a larger home Sn central London, whlch would provide the room to expand. After an 18-month search. we are deli8httd to announce that ihe Royal Instrivtion in frAoylair ha5 Invited the London In5fitute to take up space in its buildin8 at 21 Alberm3rle Street. The InAitute will ocatpy rooms thai were once the prNate apartments of Michael Faraday. The move Is set t take place in early 2021. With 15 Nobel prlzes. ten chemtcal elements and the fundamentsl prirKiple5 of eCtricity to its credit. the Royal Institution is arguably the rTh)st pstillouS sclence buildlng in the world. The move will allow u5 to hlie rn0 people and irKrea5e the range of our research. The Ars historic public room% Includin8 the IGonit Lecture Theatre. will enae the London Institute to Invlte a wider audience to Its events and talk5. Attlvities The LondDn Institute makes dlscoverits in plrysi mathernatiC5 and the theret1(al 5cience50n topics that are foundational. important or of broad interest. We document our d15coverie5 in paper5 that are clearfy exprèssed and beavtifully presented, and publish theffl in preeminent iourna15. $0 that other scientists and buSiSseS can build on and apply their insi8hts. In addltion. we describe the Institute and its distoveries on ovr website. and prornote them in the press and diuital rnedia. To fund our work. we attraci grants and investment from aeerfies. foundatlon5, firm5 and donors. and rnaintaln our unre51rrcted funds so can improve and expand. We fant-SPot and recrvlt world-cla55 earchers. coders. writers, designers and fundTai5er5 and help them 5urpa5S their ptrter¥ed limits. 1.2 Structure and governance The Institute Ss a charltable company limited by guarantee and is governed by its Article5 of Associatlon. The Tru5tEE5 of the charity are the Directors and mefflbe of the cornpany. Trustees are elerted by ordinary resolution on the basis of their Capability and determination to advance the objetti%es and attivlves of1he Instltute. Tly need not a background in science. The Trustees meet every quarter. and indmdual Trumees meet Wlth the Managin8 Oireclor mDre regularly. Dtyt(Hlay declslon-maklng is delegated to ihe ManaBin8 Dlrectoi. The Trustees are aware ofthe guldance Issued by the Charity Cmmlsslon on public benefit in dec1 what actbwriesthe Institutt carrie5 Out. Cé)mmunlcoft ondpress The London Institute 15 committed to commvnicèting its dCoVe5 and values with darity and elegance. In addition to our current writer who works onlournallsm, we have recrvited a part-tirne scfjtnce writer. Pippa Cole. who has a PhD in cosmc•loÉy and we¥iously worked for Cambridge UnTrIety Press. joined the Institute to hefp describe. in 5irnp]e language. its paper5 and projects. She also helps translate our newsworthy discov2ries Into popular summaries frjr the p$s. In 2020 we rnade several changes to our website. Our new approach to showcasing papers captures the main idea of each paperwith an image and a sirne sumrnary. The sectbon olled Perspertives is our new colseukni of essay5 expressing the Institute's outlook on xience policy and how to or8anlse research. We also IM8hli£ht our 8k)bal reath with our grnnts partners page. The Institute has had irKreased covernge in the press. with cornrnent pieces in Thespertotorabout thè value of iuri05ity4riven research and in The Guordfton abovt the value of theoretical science. at)d an Interview of 55r Aoger Penrose in 7he 5petttJtor. Our new collaboration with Bit.Blo was r*pDrted in Forbt5 The fNnes. 1.3 Achievements and performance Research The main activhie5 of the London In5tTrtutearE to do researth and publish and disseminate it. In 2020 our fesearch ran8ed from neurnl networks to phèse transilions to graph theory to cell pro8rammine. Wè wblished our researth in journals including Pljysicol Review letters. Proceedings oAthe NotionLrlkndemyOlScfiCe5 and the Journolof Physics. The Institute has impre the way It measiires the wality and amount of its research. It rthv uses the source IrMalIted impact per publication. wknith attounts for fference5 in cit3tlon prartice5 acr05s disclpline5. Starting 2021. we are aiming to double paper Dutwt every ts¥o yeao ovèr the next several year5.
Atcmtsfortheyewended 31 t>e(embor2DIO Portnership wlth 8it.Blo In 2020 the cell<odlft8 cornpany Blt.Blo partnered with the London Instttute on a rnoon5hot mlssion to Cfeate every human cell type. It has invested in the Insiituts to bè tts theory partner over the next three year5. Blt.Blo. whlch won CambridgÈ Startup of the Year. has already had success in produon8 a few tell types with hi8h consisten. guildln8 on that success. the Institute will create theoretical mode15 of genetlc si8nallin8. recursive modular subroutine5 and efficient experiment destBn. Irt supportlng t.3}0'S mlssion. we will slmultaneously push the boundaries of mathemati1 thou8ht. Under5tandrn8the operoting system behind cell identity will enable rnetllcal rèsearchers to rackle the most pressin8 diseases. Indudln8 cancer and dementia. Bit.Blts's investment has enabled the institute to rKnJlt more scientj5ts and èxpand its range of research. Approathe5 that we are applyin8 to cell repro8rarnmin8 Include the nonequillbrltsm dynamics of quasispecies. the tomposltion of logrt lunctions, gftph theory approKhes to 8roup testing and controllability on bipartite networks. 1.4 Financial Review Flnanciolp)sirfon In 2020 the Inltte had a wrplus ol re5trlcted fund5 totalin8 £122.110. compared to £20.267 in 2019. At the end of 2020 there wre total funds of £343.071, compared to £231.754 In 2019. The Trustee5' reserves Fdlcy15 to maintaln reserves in unrestrirted funds of at least 20% of the charlty's annual expenditure. At the end of 2020the Institute held reserves of £220.961. mettit)e the politv. R* To dats. the Insdtute has relied on re5eaTch grants as f($ main source of Intome. mainly from government a8erbcbes but recenttyfrom cLwrate sponsors too. Because the Institute is small and tends to hwe just several large grdnts, its income has been volatile. To help secure othertypès of irKome and reduce volatility. the Trustees agreed to recry a Djrector of De¥elopment, described above. We anticipate that th15 will bring In alternative SoUeS of lundin8 In 2021. The Covid paftdemit impaId some of the Institute's actbvities during 2020. suth a5 International travel to collab(t015 and conferences. Crucially, It restricted its ability to apth for new researth gTant5. On the oihef hand, the Irtte is deeptyaware of the CDllaboratfve n•ture of research, partlcularly In the field of theory. where new ideas art fvagile. By worn¢ with r($ solicltor5 Eveshed& the Institute w35 able to continue operating. This led to severdl unexpetted oppOrtunitS, includlng our partnershSp with 8ff<.8 and the recruitment of Several 5cientlsts and kev meTnber5 of stsff. which have been crudal to our growth In 2020. DirectorofDevelopmertC The Institute doe5 not have an endowment and has been reliant on research grants as its rnaln source of irKome. For 5rnall of8ani5ations like the London Institutt. this funding model Is risky. since it lieS on securing an uninterrupted flow of 8rants. Wlthout the benefft of the saw of lar8e nurnbers. such an approach tends to be volatile. To attract philanthroplc wpptsrt. the Trurtees aireed tp the recruitment of a Dlrertor of De¥eloprnent. This dover3Ms well with our move tothe Royal lThstitution. The Rfs scientific herltage and ma8nificent Pu1( roorns 11 help u5 atrract a wider pool of 5UPPOrters and communicate to laryer audiènces. Ourfocus on phllanthropy. led by an inau8ufal Dlrector of Oevelopment, w511 help us bo15ter the Institute's sustainability by reducing income volatility and by bringing In funds that are not restrirted to z single research prDiert. Sarah Myets-comaby was selected for the role at the Ènd of 2020, and will join u5 Zt the stsrt of 2021. 1.5 Declaration The Trustees dedare that they have appm¥ed the above report. SWLed on behalf of the trustees by Thomas Fink D¥ector and Trus 28 May 2021
A¢¢EMN1tsfrythEreTrdEd 31 Uoterthr IQIO 2 Independent examiner's report to the trustees of London Institute for Mathematical Sciences ( 'the Company") I reportto the charhy tru5teeson MyeXannatl0n of the accounts ofthe Companylorthe yearended 31 Decernber 2020. Responsibilities ondbosis of report A5 the rharity'5 trustees of the Company land also Its dlrectors for the purposes of company lawl you are respon51ble for the preparation of the accounts in accordance with the requirements of the Companfes Act 20061.the 2C116 ACVI. Indewndentexomifterfs storement I tonfirrn that no m3tters have come ro my attentlon connettion wlth the examination giving me cause to believe.. {il accountlng rrfords were not kept in speCt of thp Company a5 required by 5ertion 386 of the 2006Act,' or Havlng satisfied mysdf that the a¢(nts ofthe comn¥ are not required w be audited under Part 16 of the 21M)6 Act and are eligible for independent e¥amination, I feport In respect of my examination of your tharity's account5 as carrled out under se¢tion 145 of the Charities Art 2011 I'the 2011 Att'l. (111 the ac(ounts do not accord with those records: or liiil the accounts do not comply with the ar¢ountln8 requirements of sertion 396 of the 2CQ6 Act otherthan znv requirement ihat rhe accounts 8r4e • 'true and falr view whith is not a matter considered as part of an Independent examinion' or Since the company's gr055 income exceeds I50.(Ml examiner must be a member of a body listed in section 145 of the 2011 Acl. I can confirm that l am quafffied to undertake the examinatK>n because l am a member of the Assoclatlon of Charterèd Atcountants. which 15 one of the listed bodies. lfvl the accounts have not been prepared in actordante with the rnethod5 ard principles of the Statement of Retommended Prnctice for accounting and reportin8 bv charitie& I h*e rK> torKems and have corne acr0$5 no other matters In connection wlth the eMaminatTron to which attention sl1d be diawn in this report in order to enable a proper understsrKting ofthe account5 to be reached. In carrying out my exarnination I he foNowed the Directions given by the Charity Cornm155ion under section 145151 Ibl of the 2011 Aa. Mr Mark Cummins FCCA FaE Icff and on behalfof TC Group ThE Courtyard. Shoreham R03d Upper Beedin& Sieynln& West Sussex 81444 3TN Date z& ?cQ I
Ar£¢$[th1•I•Adeo)1l)•(ernbtT2O2O 3 Statement of financial activities Unrestrfcred Restrfftted 20201£) 20201£J Tgtul Tgtql 20201£J 2019 r£} The statement of finèncial actlvlties includes zll Bains and ID5ses recogrtid in the year. All income and Èxpendtture dprive trorn continuing adlvities. Income Donatlons & legacles (see N.41 Other tradin8 activity (see N.41 509067 80 22,116 12.116 51,164 25.499 so9.(7 131.179 Expenditure Charttable actwitie515Ee N.51 332,177 16.025 407.224 423.249 332.177 Net Incoinellexpendlwrel (see N.61 Transfers between fund5 Isee 14.111 9.474 101.843 111317 12fXI,9981 Netmovements infvDd5 9,474 . 101843 111:31711200,998)' Re¢onciliotion oJfvnd5 Total fvnds at.i.Jan 2020 211.487 20.267 231.7S4 432,752 Total funds at 31 Dec 2020 220.961 121110 343.071 231.754 4 Balance sheet Flxedossets 2020 {£1 2019 (£) The financlal statements have been prepared In cordante wrth the provisiDn5 applicable to small companie5 withln Part 15 of the Companies Act 2006. The CoMpY Is entltled to txemption from audit under S477 of the Companies Art 201& These accovnts have been Ppar In accordance with the provlslons appticable tt> companks subject to the small tompani*5 regime. Tangoble assets (see N.71 Investment in svb5idlary (see N.81 2.168 100 1.268 Current OS5ets Dèbtots (set N.91 Cash at bank L355.W . L322.230 The financial statements We approved by the Trustees oTrand signed on their behalf. by 121.234 521 1.476,714, 1.321751 7021 Current Ilt7kn11ty Amount fallln8 due wlthln one year (see N.101 11.136.563) 11.093.265> Thomas Fink Net current a55etsllliabilitie5) 340.152 229.486 Cornparty ReglstratSon No.. 06814771 Netossets 343.071 231.7541 The notes on the fol1(An8 pa8es are part of these finandal statements. c1rityfvnds Restrlrted (see N.111 Unrestricted Isee N.111 122.110. 20.267 220.%1 21L487 343.071 2aL754
AttfAMtsfwthtyaYeJJth031 DKwnbvr7020 Notes to the financial statements N.1 Company status The Instliute Is a company Ilmited by euarantee and registered in England and Wates. The members of the tompany are the Trustee5. In the event of the company being wound UP the liability is limited to £5 per m?mber. The Instituie meets the definition of a publlc benefit entity under FRS102. The specift publit beneffts can be Ind In the Trustees. Report. N.2 Accounting policies 80sisofprepttraficn offlnantiolstotements The financial statements have been prepared In ¥c¢Ydan wlth the Companie5 Act 2CQ6. the Charilles Att 2011 Accountin8 and Reportin8 by Charr(ies: Staterneni of Recommended Praclice applicable to thaiities prepari their accout)ls In acmrdance with the FinarKial Reporting Standards IFRS 102, effective Jan 20151. Thp financial statement5 hwe been prepared under tht h15tori(al cost convention. The Institute is exernpt from PTeparing group account5 In accordance wth $402 of the CompaAs Act 2006 and the Charities SORP IFRS 1021. IornIng resources are induded when the charity has entitlement to the fund5. certainty of ¥ecelo and the amount can be Tellably measured. Other trading incorne is retognised on an accruals basls. eKdudln8 value added ta rongiblefvedossets ¢7nd depieciption Tangible fryed assets are stated at tost less depreaion. Deprecvétion 15 cakulated using a 20% stialght line for the leasehold property, frrtures and fittings and 33% stralght Ill for the offio equipment. Fund occountsng Unrestricted funds are funds with no restrictions and can bt used for the general objectives of the company. Re5trided funds are funds whlch have restriction5 imposed by donrKs or which have been r31sed by the tonyany particular purposes. The transaaions relating to such fvnd5 are set against e3ch separate fund and no oiher. The aim and use of eath $trIcted fvnd is set C in Note N.11. Foreign currencies Monetsry a55ets and &abIlIt are tyan51ed knto sterlln8 USI the th5in8 SPDt rate at the balance shept date. Trnnsactions in foreign currenue5 are tranated into 5tèrllng usin8 the spot tste on the day ofthe transartions. Exchange 8ain5 and Io55e5 are shown Sn N.5. Debtors Trade and other debtw art recognised at settlement amount due. Prepayments are ¥alued at the amount prepaid. Expenditufe Expendlture 15 accounted lor on an accrvals basi$ 3nd h35 been a8gre¥ated into relevant expense 12tegorie5. Research activlty costs are those costs incwred dirertly In support of Ihe Institute'5 Obcts. ppOrt costs are those costs incurred indirectly in support of the Institu5 obitrt Governance costs a those Incurred rn connertion wlth administration of the Instite and tompllance with onslitutional and rtatutDry requirements. Creditors andprovi&ons Credr(ors and pmisions a re¢ognlsed where the lftstituts ha5 a present obliqation re5ultin8 from i past event thai will likety result in the transfer of furbds to a third party and the amount due can be reliably measured. Inbtstments In¥Ystments In assodates and subsidiarles a accounted for on the h6toric cost basis for the equty held. C05h otbonkundin hond Cash at bank and bn hand IrKludes cash and short term hi8hly liquid in¥e5tments. N.3 Going concern The finandal st•tements were prepared on the basls that ihe Instittrte Is a golw concern. In early 2020 Ihe Institvte recelbd one new reseaTth contract and two new grants, worth a total of £1.8 rnillion over three years. One-half of this is designated for unTe5tricted funds. These are from the Mediol Research Council. Cancer Research UK and the cell coding company B•t.8io Ltd. All three Projects Slart on l Aprfjl 2020. The InMitiJte has a surplus on unreStritt fvnds of £220.96112019: E211,4871. The Trustees believe that thi5 and fvture incrrtne from the Institute's IndEndent Re5eatth Oryanliatlor status will Ilow it to cortinue Its actlvitie5.
Londor InstRutef0rMathematalSthD1 NagwtsltythewarendDd31 Decemtser 2020 N.4 Income Incomefrgm donotlons Unre5tricted2020 {£) Restricted20201£J Toto120201£1 Tota12019 I£J Donthons 3.500 Grant and corporate 3383 5Q3,067 51145(1 3383 509.067 512,450 80,015 Incomefrom othertrodlng ortivltles Fee Income, 15SCQ .500 Office and room rentsl 6.619 6,619 10,103 Lecture fèe Inc¢ime' 22.116 1514 164
AC51¢r¢nI3j D¢(£mbw2020 N.5 Expenditu StoJf costs 1£) 1£) Othertosts (£1 Trta12020 (£J foto12019 {£J 284,631 15.733 146.545 Ae5eardb actmty costs Idetslied below) Support Costs Iddailed below) 14.3961 299,027 575 105,914 122,885 185.632 27$ 121.647 | 423,249 332.177 Researth artivlty costs 20201£1 20191£) 40XL)J j Supporttosts IAdmrnfisiration wage5 salarles 2020 f£) 2019 f£J 51467 Postdocs 57.579 . 12.917 Feifows 114JS0 75 1634 Develop 30,rAA) 30.OCLI Consulilr 9.651 13,075 Travel 1168 1.716 .'Sundryexpenses iBank tharyes and Interest l Natianal insurance 1.276 7.188 EmplDyern national insurance Z2.270 11583 :. 2545 Employers pension IT software and consumables 932, 1.479 6.255 1.322 1 2431 9881 3(MJ.364 .' 146y5 j 703 ' Independent E>wnlnerfs feè Uidities 3CK 3,600 Boob and sundry 2,901 4,276 Repalr5 arxl rtnewals aearll 1,449 3.005 2.780 2,865 Legal fees s22 Independent thmlw. fees Le831 f¢es Rates IL3671 3,809 5522 L143 L215 | 2,193 9.122 Teleplw)ne and intemet Printir&statk>nery and pwe and publiratTron fEe5 142J67', Recruitrnentfees 16502 :. Pension costs 4.901 IX168 506 Stoffcosts 31138 Wages and salarles Social security Costs Penlon costs 2741.345 17.7LKJ 23.750 969 932 16.3621 1.255 299m7 159.938:. Websire developm?nt 1,351 IIProfftllhxs oft disp. fued a$5ts IPublit 10r 17161 Ckne tmpl¢)yee le1¥ed a salary fee in e¥ce55 of £60,1. Senior management was paid £72.571 12019= £Nill. The Institu's Artides allows Trustees to be paid for services to the company, and TfllStee5 were pald £Nil and expenses were reimbursed 12019= £Nill. The independent examiner was paid £3,600 12019.. £3.6C¥)I for examin1 and EPlil 12019.. £Nill for other ser¥ices. The average monthly ntsrnber of ernployees duriThg the year was S research staff 12019.. 31 and l administrative stsff12019.. 11. 53,011 Forew exth¥y losslt8alnl 11901 15,8711 iZ2A85 185.632.
nrsl0rthEy*¥reded3I bEcembtr2010 N.6 Net income & expenditure The net income and expenditure In the statement of fandal acthvitses 15 Stated after chaT8ln8: 2020 (EI 20191£) 2.575 2.634 Depreclatlon of tsneoble fixed assers Independent eXamI.S fee N.7 Tangible fixed assets N.8 Investments Leasehold Fixtures a property IEJ fitting5 l£J OA7Fce equip. l£J Cost rotal f£J Investment 20201£J 2019 (EI 100 A5 at l.jan 2020 189.537 47.749 3547 240A33 In subsldiary Additton5 3.227 3.227 Ic Ic D15posals At 31 Dec 2020 189.537 47.749 6.774 244.L 5ubsidlory LIMS Ventures Ltd On 2 2015 the Instttute set up Its tradin8 subsidlary. LIMS Ventures rnited Ire8iSthred no. 09851506 and registered offite 35a South St, Londort, WIK 2XFI. and sub5crfbed to IOO ordlnary £1 share5. The charity hold5 100% olthe issued share capital. The compan$ accounts tor the year ended 31 Dec 2020 showed a total Surplus in reserves and share capital of £4JII12019: defiat of £1.9511. Depreriution As •t l Jan 2020 I7 46.151 37 Char8e forthe year On dispo4ls 570 929 1.076 275 At 31 Oec 2020 189.537 47 4.623 241.240 Netbookvolue At 31 Dec 2020 669 2.151 2.820 At 31 Dec 2019 S70 L598 2.168 N.9 Debtor5 N.10 Creditors Debtor5 2020I£J 20191EJ Credikns191kng dve wrthln theyeor 2020r£} 20J9I£J Rentsi deptsslt Otherdebtors Bank loan5and overdraft5 6,155 1 6.2271 395.365 1 6,104 L053 Orher loans 3%,889 04¥ed frvm 8r(iup undertaw 1338559 IJ18.677 Accruéd Income .317 Trade ¢red6tors 63378 82.079 social security 115.772 ' 95,IK 1.355A80 1.322,230 VAT 231,058 205,197 Other crediltJr5 265.211 . 284,888, $8,ICQ 24.503 L136.563 . 1.093,265
N.11 Restricted and unrestricted funds RestrKtedfvnd5. The way to think about restricted furK15 15 Uftrestrlctedfvnds. The way to think about unrestrltted fvnds as o bunch of sepafate pots. each of which starts the year as a singk pot. which 5tsrts the year filled to some amount. lilled to some amount. Relevant incoffle is poured In, and Unrestrlcted Income fr(ffi different 50ufces 15 pourèd in and relevant eypenditure is poured rt. determining the le¥el mixed togethtr. From this single pot expendlture is poured ofthe pot at the end of the year. OUL detemilnlng the level of the pot at the end of the year. The instltute has slx tTrts of irKome which tontribute to its restsitt and unrestricted fvnd5. The 5ubtotsls for these Six streams help u5 see vthlch lundro55ing efforts were effecthy. and IM>w bestto adjust course for the year ahead. Income type Grant5 Foundatlons Corporate Donations Other trnding Income gwen... for research after wirmine a ¢ompetiiion not for research afterwinnifte a competitlon for research in the absence of a cornw0n not fgr rtsearth in the absence of a comwitio foroffice and room reThtal and other activity Forreseurch ComrIt1¥e Restri¢tdvs unrestrKred Mix of both Mix ol both Typically unrestrkted Varie5 Unrestrlcted rought1DrynI l Jon 2020{£J Cqrriedfvrwurd Tronsftrs 31 Dec20201£) 13.913 Restrtrtedfvnds Income Expenditure IGarfield We5tc BCG3 37.571 3.779 Grdnts 1 UCL- Rwrnagine .'KCL- CRUK 41,202 58,894 18.760 18.760 BitBio Ltd 352.640 303.337 49.303 20,267 509.067 . 407.224 122.110 Uftrestrirtedfvts UMS Ventufes 'luMSVentu Other trading Illoom rentsl 5er¥ice 211,487 6.616 . 16.025 220.9611 21L487 j 25.499 ., 16.0251 220,961 Totolfvnds 20.267 1 509.067.. 407.224 122.110 Unrestrirted funds 211,487 1 25.499 . 16.025 220,961 S3466 343.071 Short name Swr Lortqnome ReSma8ine 'MedicalRewrch Council thmagwie BCG3IBCG |8oston Consulting fxoup The #atisti¢al plfy%csof recurslby innovation Prffi5ion rnedKint, 'Can¢er Researth UK New quantitib* totsls for precision rnethcine The matItKa1 strlthre of cell Identlty and reprogrammir Bit.Bio Lld io
¢wTht51Ntheye¥endeJ31 Ile¢etythr2010 N.12 Analysis of net assets between funds Unrestrirted Restiicted 20201£1 Tt>tol UnrestrKted 2030 f£J 2019 fEJ Re5tncted fotolfunds 2019(EJ 2019I£J 5701 19.697, 20201£) Flxed assets 2575 2,919 2,168 Net cwrent assetsniabillties 175.967 218.386 394,353 209,889 229,586 174311, 220.961" 397.2n 21L487.' 231.754 N.13 Related party transactions Included within other creditor5 15 a baThce of f 168.53312019= E188.6541 due to the Managin8 tlirectof. TAhlth will be drawn dgwn from yeartoyear. During the year. the Inthtute invofjced LIM5 ve1rtu5 irmited {see N.41 £15.5fJ)12019.. £32.C£Ql in Pert of rent and professional 5er¥ites. Atthe year end. LIMS Ventures Limi owedthe Institute £1.338.55912019.. £1.318.6771. Durin8 the year, the Instite re¢el¥ed funds from Boston Conwknft8Group totallng £37.S7112019.. £8S.5751. Martin Reeves is a director of Poston Consthln8 Grotsp. N.14 Operating lease commltments As at31 Dec 2020, mv?Imum payments to be made in relation tothe prnISeS rentsl le45etotslled E131,04012019.' £2151. N.15 Comparative statement of financial artivities for the year ended 31 Dec 2019 Totol X119 f£J Inttjme 20191ÉJ 20191£1 Domtlons & le8ade5 ,'Other trathng adivifv Oth 79.015 80,015 5L164 51.164 Totsl Income 52.164 79.0 13L179 Ewndtture Chafftzble artNltie5 2472 84,355 332,1 Toial eXp•ltur 247.822 84,355 331in Netlnc¢Hne/lexpen(rrture) ITransfers between fvftds 1195.6581 {5.3401 121UI3381 Net m¢*emEnts in fvnds 1195.6581 15,3401 12(XJ.9981 ReconclOrIOn offvnds Totsl ful$ * ljan 2019 407.145 25.607 431752 Total funds at31 Dec 2019 21L487 20,267 23L754 li