london InthtElor mat1￿￿tiC*S￿¢T￿S
pL(tyJnts*￿they￿r¢r￿ed3l Deeembgr2010
2020 Accounts
London Institute for Mathematical Sciences
Re81stered company no. 06814771
Reelstered charity no. 1139814
Other narne5 l(rf￿0n 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$5*x. 8N44 3TN
Achari￿le 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 fInar￿la1 sratements
Independent Examinerfs Report
N.1 Company ststus
N.2 AccrMJnting polic*s
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
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#157
C(YIPANIES HIJJSE

london In#t￿efor￿kna￿CaI S(knes
A(C(￿lIS1or￿e￿reth￿d31 OetembEr20ZO
l Trustees, annual report
This report 15 lor the year endin8 31 December 2020.
In 2020 the iondlm Institute recrUI￿d 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 O￿an153t10n 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 e￿Ctricity to its credit. the Royal
Institution is arguably the rTh)st p￿stillouS 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
ena￿e the London Institute to Invlte a wider audience to Its
events and talk5.
Attlvities
The LondDn Institute makes dlscoverits in plrysi
mathernatiC5 and the ther￿et1(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. $0 that other scientists and buSi￿SseS can build on
and apply their insi8hts. In addltion. we describe the
Institute and its distoveries on ovr website. and prornote
them in the press and diuital rnedia. To fund our work. we
attraci grants and investment from aeerfies. foundatlon5,
firm5 and donors. and rnaintaln our unre51rrcted funds so
can improve and expand. We fa￿nt-SPot and recrvlt
world-cla55 ￿earchers. coders. writers, designers and
fundTai5er5 and help them 5urpa5S their ptrter¥ed limits.
1.2 Structure and governance
The Institute Ss a charltable company limited by guarantee
and is governed by its Article5 of Associatlon. The Tru5tEE5 of
the charity are the Directors and mefflbe￿ of the cornpany.
Trustees are elerted by ordinary resolution on the basis of
their Capability and determination to advance the objetti%es
and attivlves of1he Instltute. Tly need not a
background in science.
The Trustees meet every quarter. and indmdual Trumees
meet Wlth the Managin8 Oireclor mDre regularly. Dtyt(Hlay
declslon-maklng is delegated to ihe ManaBin8 Dlrectoi. The
Trustees are aware ofthe guldance Issued by the Charity
Cmmlsslon on public benefit in dec￿1￿ what actbwriesthe
Institutt carrie5 Out.
Cé)mmunlco￿ft ondpress
The London Institute 15 committed to commvnicèting its
d￿CoVe￿5 and values with darity and elegance. In addition
to our current writer who works onlournallsm, we have
recrvited a part-tirne scfjtnce writer. Pippa Cole. who has a
PhD in cosmc•loÉy and we¥iously worked for Cambridge
UnTrIe￿ty Press. joined the Institute to hefp describe. in
5irnp]e language. its paper5 and projects. She also helps
translate our newsworthy discov2ries Into popular
summaries frjr the p￿$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
sirn￿e 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 NotionLrlkndemyOlSc￿fiCe5 and the
Journolof Physics.
The Institute has impr￿e￿ the way It measiires the
wality and amount of its research. It rthv uses the source
I￿rMalIted 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 mathemati￿1 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 In￿lt￿te had a wrplus ol re5trlcted fund5
totalin8 £122.110. compared to £20.267 in 2019. At the end
of 2020 there w￿re 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 SoU￿eS of lundin8 In 2021.
The Covid paftdemit impaI￿d 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 I￿rt￿￿te is deeptyaware of the CDllaboratfve n•ture of
research, partlcularly In the field of theory. where new ideas
art fvagile. By wor￿n¢ with r($ solicltor5 Eveshed& the
Institute w35 able to continue operating. This led to severdl
unexpetted oppOrtunit￿S, 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 Pu￿1( 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¢¢EMN1tsfrythE￿reTrdEd 31 Uoterthr IQIO
2 Independent examiner's report to the trustees of London Institute
for Mathematical Sciences ( 'the Company")
I reportto the charhy tru5teeson MyeXan￿natl0n 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 com￿n¥
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
examin*ion' or
Since the company's gr055 income exceeds I50.(M￿l
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 ar*d 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
s￿l￿1d be diawn in this report in order to enable a proper
understsrKting ofthe account5 to be reached.
In carrying out my exarnination I h￿e 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£¢￿$[￿th*1￿•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 recogrti*d 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 CoMp￿Y Is entltled to
txemption from audit under S477 of the
Companies Art 201& These accovnts have been
P￿par￿ 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(A￿n8 pa8es are part of
these finandal statements.
c1￿rityfvnds
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 I￿nd 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 $402 of the CompaA*s Act
2006 and the Charities SORP IFRS 1021.
I￿ornIng resources are induded when the charity has
entitlement to the fund5. certainty of ¥ecelo and the
amount can be Tellably measured. Other trading incorne is
retognised on an accruals basls. eKdudln8 value added ta
rongiblefvedossets ¢7nd depieciption
Tangible fryed assets are stated at tost less deprea*ion.
Deprecvétion 15 cakulated using a 20% stialght line for the
leasehold property, frrtures and fittings and 33% stralght
Ill￿ for the offio equipment.
Fund occountsng
Unrestricted funds are funds with no restrictions and can bt
used for the general objectives of the company. Re5trided
funds are funds whlch have restriction5 imposed by donrKs
or which have been r31sed by the tonyany particular
purposes. The transaaions relating to such fvnd5 are set
against e3ch separate fund and no oiher. The aim and use of
eath ￿$trIcted fvnd is set C￿ in Note N.11.
Foreign currencies
Monetsry a55ets and &abIlIt￿ are tyan51*ed knto sterlln8
USI￿ the th5in8 SPDt rate at the balance shept date.
Trnnsactions in foreign currenue5 are tran￿ated 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 Ob￿cts. ￿ppOrt costs are those costs
incurred indirectly in support of the Institu￿5 obitrt
Governance costs a￿ those Incurred rn connertion wlth
administration of the Instit￿e 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 recelb*d
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 IndE￿ndent Re5eatth Oryanliatlor* status will
Ilow it to cortinue Its actlvitie5.

Londor* InstRutef0rMathemat*alSthD￿1
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

AC￿￿51￿￿¢￿r¢n￿I3j 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
2￿7$
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
3￿CK*
3,600
Boob and sundry
2,901
4,276
Repalr5 arxl rtnewals
aearll
1,449
3.005
2.780
2,865
Legal fees
s￿22
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$5*ts
IPublit ￿￿10r
17161
Ckne tmpl¢)yee le￿1¥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*¥re￿ded3I bEcembtr2010
N.6 Net income & expenditure
The net income and expenditure In the statement of f￿andal 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
I￿￿7
46.151
3￿7
Char8e forthe year
On dispo4ls
570
929
1.076
2￿75
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 cornw￿0n
not fgr rtsearth in the absence of a comwitio
foroffice and room reThtal and other activity
Forreseurch Com￿rIt1¥e Restri¢t*dvs unrestrKred
Mix of both
Mix ol both
Typically unrestrkted
Varie5
Unrestrlcted
rought1D￿rynI
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
Uftrestrirtedfvt￿s
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
S34￿66
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 quantit*ib* totsls for precision rnethcine
The matI￿￿tKa1 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 b￿aThce 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 ve1rtu￿5 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 Insti￿te 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 p￿rnISeS rentsl le45etotslled E131,04012019.' £215￿￿1.
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
247￿2
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
Reconc￿lOrIOn offvnds
Totsl ful￿$ * ljan 2019
407.145
25.607
431752
Total funds at31 Dec 2019
21L487
20,267
23L754
li