2023-03-31-accounts

Company number: 7487432 Charity number: 1139869 Charity number Scotland: SCO44260

Sarcoma UK

Annual Report and Accounts For the Year Ended 31 March 2023

Sarcoma UK Report of the Trustees For the year ended 31 March 2023

CONTENTS
	Page
Chair of Trustees’ Statement	3
Reference and Administrative Details	4
Report of the Trustees:	5 - 30
Objectives and activities
Achievements and performance
Future plans
Governance, structure and management
Financial Review
Statement of responsibilities of the trustees
Acknowledgements	31 - 33
Independent Auditor’s Report to the Members of Sarcoma UK	34 - 37
Financial Statements:	38 - 50
Statement of financial activities
Balance sheet
Statement of cash flows
Notes to the financial statements

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

Chair of Trustees’ Statement

I am delighted to share Sarcoma UK’s Annual Report and Accounts for the year ending March 2023. The charity is going from strength to strength and progress is being made in terms of our growth, our reach, our investment and our impact.

Sarcoma is a relatively rare cancer but 5,300 people in the UK are given a diagnosis of the disease every year. Due to its relative rarity and complexity, awareness is low, diagnosis is often late, treatment options are limited and outcomes are worse than for many cancers.

We are committed to addressing these challenges and in the twelve years since we were established we have made solid progress. We are almost half way through our Tackling Sarcoma Together strategy and we are making inroads in the stretching targets we have set ourselves.

The last year saw:

• Our largest ever investment in sarcoma research (£1.2 million)

• Greater support for the next generation of sarcoma researchers

• Doubling of our Support Line capacity

• A huge increase in the amount of information we provide to patients and healthcare professionals

• An overhaul of our website so that it is much more accessible and engaging

• Increases in our work advocating on behalf of sarcoma patients and their families.

However, we must not be complacent. We know that we are only engaging with a fraction of those families affected by the disease that we could help. We are committed to reaching everyone who has received a sarcoma diagnosis.

This is my final year as Sarcoma UK chair and I am proud of all that we have achieved. The last few years have been difficult and although the challenges ahead are significant, I am confident that Sarcoma UK is well placed to face them and the charity has a bright and successful future.

Sharon Reid Chair of Trustee

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Sarcoma UK Reference and Administrative Details For the year ended 31 March 2023

Reference and Administrative Details

Company number	7487432 (Limited by guarantee in England and Wales)
Charity number	England and Wales (1139869)
	Scotland (SCO44260)
Registered office	17/18 Angel Gate, City Road, London, EC1V 2PT
	www.sarcoma.org.uk
Trustees	Trustees, who are also directors under company law, who
	served during the year and up to the date of this report being
	approved were as follows:
.
	Sharon Reid (Chair)
	Louisa Nicoll
	Michael Parry
	Isla Robinson
	Anjula Thompson
	Rubinder (Ruby) Sangha (appointed June 2022)
	Hristo Anastasov (appointed June 2022)
	Jamie Ford-Cordes (appointed June 2022)
	Dr Aisha Miah (appointed October 2022)
	Dr Sally Johnson (appointed October 2022)
	Dr Fiona Cowie (appointed December 2022)
	Matthew Treagus (appointed October 2023)
	Leyla Hayes (appointed October 2023)
	Alan Abraham (appointed October 2023)
	Andy Eckles (term of office ended October 2022)
	Professor Ian Judson (term of office ended October 2022)
	Sarah Conneally (term of office ended June 2023)
	Johanne Vass (term of office ended June 2023)
Patron	Richard Whitehead MBE
Chief Executive	Richard Davidson
Bankers	CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling,
	Kent ME19 4JQ
	Lloyds TSB, National Clubs & Charities, PO Box 1000,
	BX1 1LY
Solicitors	Brahams Dutt Badrick French LLP, 24 Monument Street,
	London, EC3R 8AJ
Auditor	Sayer Vincent LLP, Invicta House, 108-114 Golden Lane, London,
	EC1Y 0TL

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

Objectives and Activities

Sarcoma UK is the only cancer charity in the UK focusing on all types of sarcoma.

Our vision

Where everyone affected by sarcoma cancer has the treatment, care and support they need.

Our mission

To ensure everyone affected by sarcoma receives the best treatment, care, information and support available and to create the treatments of the future.

Our goals

1. More people will survive sarcoma.

2. More will be known about the causes of sarcoma.

3. Everyone affected by sarcoma will have access to the best treatment and care.

What we do

• Drive awareness of sarcoma cancer.

• Find answers through funding sarcoma research.

• Provide information and support to anyone affected by sarcoma cancer.

• Campaign for better treatments and to improve standards of care.

Sarcoma facts and figures

1. Sarcomas are uncommon cancers that can affect any part of the body, on the inside or outside, including the muscle, bone, tendons, blood vessels and fatty tissues.

2. Fifteen people are diagnosed with sarcoma every day in the UK. That’s about 5,300 people a year.

3. There are over 100 different sub-types of sarcoma.

4. A key symptom of sarcoma is a lump that gets bigger quickly.

5. Sarcoma diagnoses now make up about 1.4% of all cancer diagnoses in the UK.

6. Sarcomas account for about 11% of childhood cancers and about 14% of cancers in teenagers.

7. The majority of people are diagnosed when their sarcoma is about the size of a large tin of baked beans (10cm).

8. Sarcoma survival rates have been very gradually increasing over the last two decades in the UK. The five-year survival rate for sarcoma is 55%.

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

Fundraising practices

The last few years have necessitated a shift in our fundraising practices as we have sought to diversify our income channels and supporter engagement. We now have a much more balanced fundraising portfolio and stronger digital as well as longer term income streams.

For a charity of our size, we consider ourselves a leader in good fundraising models and we work hard to follow exemplary supporter-led engagement practices. We subscribe to the Fundraising Regulator’s Code of Fundraising Practice and we are a member of a number of professional and sector-wide bodies. Our fundraisers are provided with relevant and appropriate training and support whilst they are employed by the charity.

We take safeguarding very seriously and we are especially careful and sensitive when dealing with vulnerable people, including (but not restricted to) those affected by cancer. We have a robust Adults at Risk policy and a designated Safeguarding Officer. Supporter feedback is an important source of information about how our work impacts on them (and wider members of the public).

Engaging with our supporters, in person, on the telephone and via email, post and social media are essential ways to involve people in our work and progress. This work is only carried out by paid members of our team. To date, we have not employed any external organisations or professional fundraisers to fundraise on our behalf.

In the time period of this report, we are pleased to report that we received no complaints relating to our fundraising activities.

Achievements and Performance

Information and Support

We will equip and empower people affected by sarcoma

How will this be achieved:

1. We will aim to reach everyone who is affected by sarcoma with our support and information, particularly those groups such as those from any ethnic minority community who we have failed to reach previously.

2. We will engage with people closer to the point of diagnosis.

3. We will support patients at every step of their sarcoma journey.

1. Reach everyone who is affected by sarcoma with our support and information

• The Support Line team have had 4,622 contacts with 827 individuals this year. This was an increase in the number of contacts of 35% on last year's figures and an increase of 8% in the number of individuals. Over the year the team came into contact with an average of 55 new individuals each month.

• From January 2023 staffing of the Support Line was increased to two members of the team covering each day, to meet the rising demand from people contacting the line. In the first three months of this double staffing the team saw an increase in the number of phone call contacts by 66% and a decrease in the number of voicemails being left for the team of 54%.

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

• We wrote and published two new print information resources over the year:

• We published Understanding Liposarcoma in May 2022 and sent out 1,063 copies over the year.

• We published Understanding Leiomyosarcoma in January 2022 and sent out 503 copies by the end of March 2023.

• We published ten digital information resources on our website on the rarer subtypes of sarcoma, and developed seventeen new digital information resources on our website aimed at children, teenagers and young adults with sarcoma as well as their loved ones.

• During Sarcoma Awareness Month, we created 33 information-based social media posts that reached over 80,000 people.

• We continued to play an active role in the Sarcoma Patient Advocacy Global Network (SPAGN) and to engage with other sarcoma charitable organisations across the globe.

2. Engage with people closer to the point of diagnosis

• We launched our first animation video, titled ‘Do I have sarcoma?’, targeted at people who might be experiencing symptoms of sarcoma. The video was shared widely during Sarcoma Awareness Month and became one of our best posts in terms of reach and engagement, reaching over 48,000 accounts.

• We published a video and webpage on how to track and measure a lump, which offers information so that people can inform their GP of any changes – enhancing their chance of referral for further tests where necessary.

• We worked with external agencies to improve our Search Engine Optimisation on pages which are relevant for those yet to receive a sarcoma diagnosis.

• The Support Line direct referrals system expanded and we now offer the service to six teams. Wales, Northern Ireland, Preston, Oswestry, Brighton, and Bournemouth.

3. Support patients at every step of their sarcoma journey

• During Sarcoma Awareness Month we held three webinars in collaboration with the Bone Cancer Research Trust and GIST Cancer UK in relation to the major subtype areas of sarcoma. These were all made available on our YouTube channel and Facebook and have received over 3,400 views between them.

• We made connections with and are now supporting two new sarcoma support groups. One is a Facebook group for people with endometrial stromal sarcoma, and the other is a bone sarcoma peer-to-peer support group.

• We formed a working relationship with the NIHR to collaborate on our respective clinical trials hubs, to ensure that we’re capturing the most accurate data on sarcoma trials and their recruitment status.

• We held a number of focus groups and interviews with people who have had experience of palliative care for sarcoma, to help shape our work on producing an information resource on palliative care.

• We supported and contributed to a Healthcare Safety Investigation Branch (HSIB) investigation into palliative care services for sarcoma patients.

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

Research

We will support world-class research

How will this be achieved:

1. We will fund and support the next generation of sarcoma researchers and encourage networking and collaboration.

2. We will combine our grant funding streams to increase flexibility and efficiency.

3. We will involve people affected by sarcoma in our research programme so that it is better informed by their experiences and priorities.

4. We will launch targeted calls for funding in priority areas of research.

1. Fund and support the next generation of sarcoma researchers

• In 2022-23 we funded one new PhD studentship project, awarded to Dr Nischalan Pillay at University College London:

Using single cell signatures and proteolysis targeting chimeras (PROTACs) for targeted degradation of clear cell sarcoma

Dr Nischalan Pillay, University College London – PhD studentship

£119,479

This project aims to better understand the biology of clear cell sarcoma, an ultra-rare subtype commonly affecting young people. Working with scientists from the University of Oxford, the team will analyse more than 100 samples of clear cell sarcoma using cutting edge cell sequencing technology. They aim to understand how clear cell sarcoma cells differ from those around them and identify subpopulations of cells that could be targeted by drugs. They will then use this data to undertake pioneering pre-clinical drug discovery work to design a new and exciting class of drugs called PROTACs. The work on this project should improve our understanding of clear cell sarcoma, as well as provide vital evidence for early-stage clinical trials.

This project is the 2022 Sayako Grace Robinson PhD Studentship, awarded to one PhD research project every year in memory of Sayako Grace Robinson, who died of angiosarcoma in 2014.

• We founded Sarcoma UK’s PhD Student Network. The network brings together the charity’s funded PhD students and allows them to connect with one another, learn from senior sarcoma researchers, meet people affected by sarcoma and understand Sarcoma UK as a charity and the priorities of our patient community. The network members met for the first time at an in-person meeting in June and again at a virtual meeting in January 2023.

• Sarcoma UK-branded lab coats were also created and sent to all funded PhD students to encourage a sense of engagement and connection with the charity.

• We awarded an uplift to our funded PhD student stipends in response to a 10% increase in the UK Research and Innovation minimum stipend due to the rising cost of living.

• We secured £293,388 from the Government’s Medical Research Charities COVID Support Fund to support our existing PhD studentships.

2. Combine our grant funding streams

• 2022-23 was the second successful year of welcoming applications from across the sarcoma research space via one open grant round. We received 19 applications to this round and awarded funding to one PhD studentship, 5 large grants and 2 small grants.

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

Small and large grants awarded in 2022/23

Defining the Tumour Microenvironment of Gastrointestinal Stromal Tumours (GIST) to identify novel therapeutic strategies

Dr Zoë Walters, University of Southampton

£49,993

Gastrointestinal stromal tumours (GISTs) are the most common subtype of sarcoma, but have a poor prognosis upon recurrence. For the first time in GIST, this pilot project studies the tumour microenvironment (TME) which has been shown in other cancers to promote cancer cell growth and spread. The team will use new technologies to locate each cell type within the tumour and create detailed maps. The team will do this both for the ‘original’ tumour and from samples of those that have spread to other parts of the body. Comparing these maps will help them find differences in the TME between patients whose tumours are successfully treated and patients whose tumours return after treatment.

Surveillance AFter Extremity Tumor surgerY (SAFETY)

Dr Kenneth Rankin, Newcastle Upon Tyne University Hospitals

£149,839

Surveillance strategies for sarcoma have not been well-researched, meaning that approaches differ between different centres. This clinical trial allocates participants to one of four different treatments; CT scans every 3 or 6 months, or chest X-rays every 3 or 6 months. The team will investigate how effective these different options are, in terms of improved survival, any complications, and how it affects overall quality of life for patients. The SAFETY trial is already running across multiple centres in Europe and America, so Sarcoma UK’s funding will enable 120 UK-based sarcoma patients to benefit. It is hoped this work will provide the evidence to ensure that patient care and follow-up is as effective as it can be, based on high quality evidence.

Identification of biomarkers of drug sensitivity in leiomyosarcoma

Prof Valerie Brunton, University of Edinburgh

£149,882

This project will carry out a series of tests to identify new drugs which could improve outcomes for patients with leiomyosarcoma. The team will use different models of leiomyosarcoma in the laboratory and test them with different drugs. They will then use a detailed type of genetic testing to spot genetic changes which may predict if a drug is effective. Finally, they will compare these results with real-life patient samples to see if these genetic changes relate to a positive response to the drugs. If successful, this research could select the right patients to take part in clinical trials and ensure the right drug is offered to the right person.

A translational tumour explant-based platform for assessing drug resistance mechanisms and microenvironmental features in intra-abdominal leiomyosarcomas

Prof Robin Jones, Institute of Cancer Research

£149,928

Drug resistance is one of the biggest issues in treating sarcomas. This project aims to understand why some intra-abdominal leiomyosarcomas, which can have very poor outcomes, can be resistant to treatment. The team will create cutting-edge tumour ‘avatars’ in the laboratory, which mimic how the cancer behaves in the body. Using these avatars, the team will monitor changes in the growth and death of sarcoma cells when they are supplied with different treatments. This project will improve our understanding of how sarcomas respond to treatment and how drug resistance happens. In the long run, this work could help inform new clinical trials and treatment options for patients.

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

Characterisation of the proteomic landscape of gynaecological sarcomas for applications in precision oncology

Dr Paul Huang, Institute of Cancer Research

£149,750

Gaps in understanding and a lack of targeted therapies means that gynaecological sarcomas have not seen the improvement in survival rates seen in other gynaecological cancers recently. This project will analyse the biological features of gynaecological sarcomas. The team will carry out molecular analysis of surgical tissue taken from 98 gynaecological sarcoma patient samples to spot potential drug targets. They will compare these with patients’ immune profiles to work out who is most at risk of their sarcoma returning or spreading. This research could help find new treatments for gynaecological sarcomas, generate a knowledge bank of data and help match patients to the best treatment for them.

This project is being fully funded by a generous donation from the Sarah Burkeman Trust.

Multi-omic analysis of epithelioid sarcoma: an expanded cohort to validate preliminary data and to unravel the complexity of epithelioid sarcomas genomes Prof Adrienne Flanagan, University College London

£ 41,860

This project will expand a study of epithelioid sarcoma previous funded by Sarcoma UK, which uncovered features of this subtype and demonstrated similarities between epithelioid sarcoma and other cancers. This work will perform validation experiments in a larger case set and will carry out long read sequencing of epithelioid sarcoma to analyse the whole genome and provide information to help treat patients. This work will generate the largest publicly available dataset of epithelioid sarcomas worldwide and the team hope to generate a biomarker that can distinguish between two types of epithelioid sarcoma, to inform clinical trial selection.

• We undertook a substantial audit of our research programme and funding portfolio, assessing the types of investment and impact across our different funding streams since 2009.

3. Involve people affected by sarcoma in our research programme

• For the second year in a row all applications received to the charity’s funding calls received assessment from people affected by sarcoma, from a pool of 30 trained lay reviewers. We also welcomed Julia Casimo to our Grant Review Panel as a lay member.

• We held a number of focus groups with people affected by sarcoma to better understand their priorities around sarcoma research. The sessions were hugely informative and will feed into long-term strategic planning for the charity.

• Working with members of the sarcoma research community, we facilitated multiple adhoc opportunities to involve people affected by sarcoma in research. Such initiatives have included reviews of early-stage proposals, promotion of research surveys to our patient community, identifying people willing to share their experiences to improve research projects, and matching individuals to patient and public involvement panels.

4. Launch targeted calls for funding

• We ran our first strategic funding call since our Genomics Research Programme formally ended. This was focussed on improving diagnosis of sarcoma, and welcomed applications which would support making sarcoma diagnosis earlier, faster or more accurate, with a preference for projects with likely patient impact within five years. We received three applications to the call and funded two large grants:

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

Grants awarded via Sarcoma UK’s Improving Sarcoma Diagnosis research call

Innovative metabolomics-based technologies to improve the diagnosis and surgical management of gynaecological sarcomas

Professor Maria Kyrgiou, Imperial College London

£149,998

This project aims to develop a piece of technology to help spot gynaecological sarcomas, to improve both diagnosis and surgery. Imperial College London previouSupport Liney developed the iKnife for other gynaecological cancers. The tool works by analysing the smoke produced from some surgical techniques, to tell the difference between normal and cancer tissue. This method works, but the burning damages tissue, which means that not all types of cells can be detected. To analyse the cells without causing this damage, the team aims to use a rapidly heating robot-guided laser to remove a single layer of cells from the uterine wall. These can then be analysed to create a ‘map’ of the areas to remove. The tool should help ensure that all the sarcoma is removed during surgery, and longer term that it can help diagnose uterine sarcomas faster and earlier.

Improving Sarcoma Diagnostics Through Exploiting Genomic Data Professor Adrienne Flanagan, University College London

£145,792

This project aims to improve the delivery of the sarcoma whole genome sequencing service in the NHS. Whole genome sequencing analyses all the genes in both the sarcoma and the patient, which can help make the right subtype diagnosis and inform possible treatments. This project will employ a clinical scientist to train as a sarcoma genomics specialist and network with six genomic laboratory hubs to encourage best practice and make the service more effective. They will also compare results from whole genome sequencing with other types of genetic testing to see which method produces the best outcomes. Improved knowledge of genomics may contribute to patients receiving faster and more accurate diagnoses, and could help develop personalised therapies in the future.

• In collaboration with members of the research community and our Research Strategy Committee, we scoped our targeted funding call for 2023-24, to be focussed on ultrarare sarcoma subtypes (with an incidence of less than 1 per million).

5. Work more closely with the sarcoma research community

• We awarded over £11,000 to four workshops and meetings via our Research Workshop Scheme, to encourage networking and collaboration within the sarcoma research community.

Prof Tze Min Wah and Prof Dan Stark, University of Leeds

UK Interventional Radiology Workshop for the management of desmoid fibromatosis (DF), £3,000

Dr Francesco Crea, The Open University

Personalised epigenetic therapies for sarcoma, £2,064

Dr Sherron Furtado and Mr Craig Gerrand, Royal National Orthopaedic Hospital NHS Trust, Stanmore

Supporting Collaboration for Research and Innovation in Sarcoma Rehabilitation (SCORE), £3,000

Dr Rachel Taylor, University College London Hospitals NHS Foundation Trust

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

Developing the intervention study from REASSURE_ME to help patients cope with fear of recurrence, £3,000

• We welcomed five new scientific members to our Grant Review Panel to replace those who had sadly reached the end of their term.

• 2022-23 saw the first piece of research commissioned by Sarcoma UK:

A retrospective audit of the sarcoma pathway within a radiologist-led satellite diagnostic sarcoma centre with a focus on improving the early stages of the diagnostic pathway Dr John Bush, University Hospitals Sussex NHS Trust £9,591

This project will carry out a retrospective audit of patients referred into the soft tissue sarcoma service at University Hospital Sussex between 2017-2022. The team will analyse the number and appropriateness of referrals and correlate these to test results and treatment outcomes, as well as exploring sources of dissatisfaction from patient questionnaires. Sarcoma services have long been under intense pressure, causing long waiting times and issues in care, so it is hoped the recommendations resulting from this research will reduce delays and improve patient experience.

• We launched a new collaboration with LifeArc, building on an application we originally funded through our 2021-22 Open Grant Round. As co-funders, we jointly awarded £148,454 to Dr Paul Huang at the Institute of Cancer Research for the following research project:

Prospective evaluation of KARSARC - a gene expression-based risk classifier for patients with soft tissue sarcomas treated with pazopanib Dr Paul Huang, Institute of Cancer Research

£ 74,227

Pazopanib is given as a standard treatment for many patients with soft tissue sarcoma, but responses can vary between patients. Dr Huang and colleagues have developed a clinical tool known as the KARSARC test that can predict which patients with soft tissue sarcoma will receive long-term benefit following treatment with pazopanib. In collaboration with MD Anderson Cancer Centre in the US, this project aims to use the KARSARC test in a clinical trial involving 145 patients with soft tissue sarcoma to help ensure each patient receives the most appropriate treatment for them. The team hope to progress the test to the next stage of development if successful.

• In 2022-23 we officially launched our Research Strategy Committee, which advises the charity on the direction and implantation of our research strategy. Its international membership is comprised of academics, clinicians and scientists within the sarcoma field and from other cancers, as well as people affected by sarcoma.

• We launched a new research collaboration with the Sarah Burkeman Trust, a charitable foundation with a focus on translational research into sarcoma. The Trust committed the funds to fully support a project supported through our 2022-23 Open Grant Round; the project is led by Dr Paul Huang at the Institute of Cancer Research.

• We continued our existing research collaboration with the Bone Cancer Research Trust to fund a project analysing bone sarcoma data held by the National Cancer Registration and Analysis Service (NCRAS).

• We attended a number of major sarcoma research conferences, including the Sarcoma GeCIP meeting, European Musculoskeletal Oncology Society (EMSOS) conference, the Connective Tissue Oncology Society (CTOS) conference, and the British Sarcoma Group (BSG) conference. We also visited a number of our funded grant-holders and members of the research community at the University of Birmingham, the University of Manchester, the University of Southampton, the Wellcome Sanger Institute and the Institute of Cancer Research.

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

• We lent our support in kind to a number of sarcoma research projects in the community, enabling a number of applications to larger funders to come to fruition.

Policy

We will build strong and productive relations with healthcare professionals

How will this be achieved:

1. We will collaborate with healthcare professionals to engage with the National Institute for Health and Care Excellence (around guidelines, appraisal of new drugs and to improve delays to diagnosis).

2. We will facilitate networking and collaboration among healthcare professionals to encourage the sharing of best practice and service improvement ideas.

1. Collaborate with healthcare professionals

• Our staff team worked with the specialist teams including visits to the Northern Ireland team, The Royal Marsden and UCLH teams, and the Southampton Team.

• The Tricia Moate award was given this year to Lucy Whiddett, Sarcoma Support Worker with the South Wales Sarcoma Team and Nicola Day, Clinical Specialist Physiotherapist in Oncology Rehabilitation & Exercise at Addenbrooke’s Hospital in Cambridge.

• Sarcoma UK sponsored seven Health care professionals to attend the EMSOS (European Musculo Skeletal Oncology Society) conference in October 2022 and nine health care professionals to attend the BSG (British Sarcoma Group) conference in February 2023.

• We had six poster presentations and two oral presentations at the BSG conference this year, with staff attending and having very productive networking conversations with many of the attendees, including linking the healthcare professionals from the Republic of Ireland.

• We worked with medical professionals and the manufacturer to give evidence to the NICE appraisal of ripretinib, a fourth-line option for GIST patients.

2. Facilitate networking and collaboration among healthcare professionals

• We supported an in person meeting of the Sarcoma Advisory Group chairs group meeting which covered genomics, paediatric sarcomas, specialisation of complex surgeries, and two week wait pathways.

• The Support Line team have worked closely this year with Boehringer-Ingelheim to facilitate the re-engagement of CNS’s and AHPS in regional meetings to share best practice and network. Three meetings have been held, the North, Southeast and Southwest, a member of the Support Line team attended each of these meetings.

• We held a roundtable in parliament on improving access to genomics in sarcoma. This was attended by sarcoma experts, as well as representatives from NHS England, Genomic Laboratory Hubs, the NHS Genomics Unit, and the Houses of Parliament.

Public Affairs

We will work together with the sarcoma community to achieve earlier, accurate diagnosis

How will this be achieved:

1. We will improve the quantity and quality of education on sarcoma for healthcare professionals.

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

1. We will work to improve referral pathways and improve quick access to scans.

2. We will influence UK governments, the NHS and other policymakers to improve how sarcoma is diagnosed.

3. We will prioritise research into the earlier diagnosis of sarcoma.

1. Improve the quantity and quality of education on sarcoma

• The GatewayC GP education module was promoted widely and became the website’s most completed new module ever.

• We began working with the University of Nottingham to create a free online learning module for physiotherapists on sarcoma, and brought together experts from the clinical community, physiotherapy students, and patients to co-create this module.

• We collaborated with the University of Northumberland’s graphic design department to support students to use their university project to design a tool which could raise awareness of the signs and symptoms of sarcoma amongst healthcare professionals and the wider public.

• In partnership with the Bone Cancer Research Trust, we continued our support of the Sarcoma Awareness module and fellowship scheme, led by C R Chandrasekar at the Royal Liverpool and Broadgreen University Hospitals NHS Trust.

• The Sarcoma UK Induction package was requested and shared with 53 healthcare professionals.

2. Improve referral pathways and quick access to scans

• We supported the Sarcoma Advisory Group Chairs meeting in Birmingham in February, bringing together 25 of the leading clinicians in the UK from a range of specialist centre and other specialties. This year the discussions heavily focussed on how professional groups in collaboration with Sarcoma UK could influence sarcoma diagnosis at a commissioning level as well as the improvement of referral pathways and access to scans.

• We kicked off early diagnosis projects which look to improve ultrasound scanning in local hospitals and diagnostic centres.

• We awarded our first piece of commissioned research to John Bush and the team at University Hospitals Sussex, analysing referral pathways for patients within the soft tissue sarcoma service.

3. Influence UK governments, the NHS and other policy makers

• We led the sector-wide development of letters to the Chief Executive of the National Institute for Health and Care Excellence, as well as the Secretary of State for Health and Social Care to highlight issues which arose as a result of changes to the NICE Methods manual, meaning that rare and less common cancer patients may lose out on access to new treatments.

• We responded to NHS England’s 10 Year Cancer Plan consultation both independently and as part of Cancer52 and the Children and Young Persons’ Cancer Coalition, as well as attending meetings with the Department of Health and Social Care to highlight important points.

• We held a reception in Parliament on early diagnosis, with attendance from key targets, and featuring speeches from Jess Phillips MP and Laura Farris MP, and Lauren Phillips, who lost her dad to sarcoma in 2019.

• We held two drop-in events to focus on the problems faced by children, teenagers, and young adults (CTYA) with sarcoma. These events took place in Westminster and in the Scottish Parliament on consecutive days during the inaugural Teenage and Young Adult Cancer Awareness Month.

• We are involved in contributing to the NHS Genomics Programme’s new programme strategy, with a particular focus on getting access to genomic testing for patients.

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

• We met with several more MPs off the back of our parliamentary engagement earlier in the year.

• We led the charity sector response to the negotiations for the next voluntary scheme for branded medicines pricing and access (VPAS), which allows us to call for innovative reimbursement methods for future innovative medicines.

4. Prioritise research into early diagnosis of sarcoma

• We ran a £300,000 funding call into research which would improve sarcoma diagnosis, welcoming applications which would make sarcoma diagnosis earlier, faster or more accurate, with a preference for projects with likely patient impact within five years. We funded two large research projects, one focussed on developing a test to diagnose gynaecological sarcomas and the other aimed at improving the sarcoma genomics service for diagnosis.

• We commissioned our first piece of research to understand patient journeys following referral, to improve diagnosis and patient experiences overall.

Public Awareness

Increase public awareness of sarcoma through higher profile and targeted campaigns.

How this will be achieved:

1. Invest in reaching new audiences (particularly online).

2. Launch of our new website.

3. Increasing our communications on our research programme.

4. Increase presence with media publications.

Highlights of the year included:

• Sarcoma UK began working with celebrity ambassador, Jake Quickenden. It has been great to foster a closer relationship with Jake and we were delighted to see him performing at our Glitter Ball in March 2023 and he is signed up to run at the London Marathon in a bone costume. Jake has spoken on This morning, Lorraine, ITV news and BBC London news about his brother’s journey with sarcoma.

• We have created a page on the website introducing our Sarcoma UK Ambassadors to our supporters and visitors. As a charity which values its people, we wanted to recognise and thank a small group of long-standing, committed supporters.

• We have worked with NHS Digital on maximising the impact of the newly released sarcoma data from Sandra Strauss’ team. We were a part of the NHS Digital’s data webinar series.

• Working closely with our supporters we have had a 300% increase in news stories picked up by both national and regional press.

• In July, we held our second sarcoma awareness month. This has been our busiest communications period and a strong indicator of how our move towards more strategic thinking has worked. We showcased the full range of our work and patient involvement by creating engaging and varied content and maximising partnerships.

• We launched our new children and young people pages on our website with social posts, case study blog post, E news, and a research comms blog post.

• EMSOS conference recap news story was very well received from our supporters and our sarcoma specialist nurse contributors.

• This year we launched our virtual Never Forgotten wall. A place for family and friends to celebrate and remember their loved ones.

• We began implementing our new communications strategy document. The strategy pulls together many of our strands of our work, formalises the ways of working that have

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

• emerged across the charity, and charts its path for how we can help realise the organisational strategy objectives for the coming three years.

• We had worked closely with fundraising to implement two virtual campaigns: The Never Forgotten walk and Step into Spring. These campaigns have brought new supporters into the organisation that have a personal experience with sarcoma.

Fundraising

Ensure we have the funds to support our priorities.

How this will be achieved:

1. Raise at least £2,600,000.

2. Develop a virtual fundraising event offer.

3. Fundraise with new corporate partners.

4. Organise a range of face to face cultivation and fundraising events including the Glitter Ball, Carol Concert and comedy evening.

Highlights of the year included:

• This year we were chosen as the charity of the tear for David Wilson Barratt Homes. The partnership raised over £50,000 and included events such as a football tournament, Golf Day and bake sales.

• This year we launched two virtual events, our Step into Spring challenge event, and our Never Forgotten walk. These events bought new supporters to the charity.

• Off The Kerb and our ambassador Angela Barnes put on a successful comedy evening at the Brighton Dome. This was a sellout evening with guest acts including Romesh Ranganathan, Tom Allen, Sean Walsh, Kerry Godliman, Mark Steel, Carl Donnelly and Joe Foster. The event was a huge success raising over £27,000.

• Sarcoma UK’s annual Carol Concert moved to a new location at St Giles in the Field near Tottenham Court Road. The concert was hosted by Johnny Ball, with celebrity readings from Louisa Lytton, Barbara Smith, Robert Powell. Doctor Bambang Almaja also took to the stage to sing.

• The London Marathon continues to be our successful flagship fundraising event. This year we had our largest team with 127 runners who raised over £500,000 including gift aid. This is the largest amount we have raised through the marathon.

• This year we launched our new in memory microsite. This website is a more sensitive space for people to visit and also allows for easy fundraising in memory of a loved one, multiple pages can be linked together, and images of loved ones included.

• We celebrated our longstanding partnership with independent equity research firm The Analyst at Mansion House, with the attendance of the Lord Mayor of London. With their latest donation of £75,000 they passed the £1million mark in donations over the last eleven years.

• Supporter Zoe Conway organised a successful Chris Martin Quiz at the National Cyber Security Centre, raising over £20,000. It was hosted by Ed Balls and featured rounds by Radio Four’s Mishal Husain and Rob Bonnet, Shadow Chancellor, Rachael Reeves MP, Former Prime Ministers Tony Blair and David Cameron and the King’s Private Secretary Edward Young.

• This year’s Glitter Ball took place at a stunning new venue, the Marriot on Grosvenor Square. The evening was sponsored by Rain Oncology, Stuart Levy, Boden and Diageo. Celebrity ambassador Jake Quickenden shared his brother’s journey with sarcoma before taking to the stage to sing.

• We are grateful for the continued support from Gwen Owen Robinson. Her yearly gifts have significantly changed the outlook for sarcoma researchers and ultimately sarcoma patients. The pioneering PhD studentship programme which she has supported since 2016 has enabled seven students to undertake PhD projects in sarcoma research. Mark

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

Elms, Shadi Hames, Shirin Hanaei, Molly McNae, Sara Arfan and Takumi Matsuo all hold a Sayako Grace Robinson PhD Studentship.

• We started our year long partnership with Franklin Templeton. The first of many events for us was a charity football tournament at Charlton Athletic football club.

• We launched a new collaborative funding partnership with the Sarah Burkeman Trust, who have generously supported a £149,750 research project through the Sarcoma UK open grant round.

• Sarcoma UK was fortunate to receive £293,388 from the Medical Research Council for the UK Government Covid Medical Research Charity Support Fund. These funds are to provide support for early career researchers.

Operations and Resources

What we said we would do:

1. Create a strong, stable organisation with good governance, systems and processes.

2. Ensure that we have a positive, skilled team with appropriate training and development.

3. Focus on equality, making our services accessible to all people with sarcoma, with no one left behind.

1. Create a strong, stable organisation with good governance, systems and processes

• In October 2022 we implemented a new risk management model, the new system allows for easier and better reporting to the GRF Committee and Board of Trustees.

• HR reviewed and updated our job application process with input from the EDI Chair. This included a more user-friendly application and equal opportunities form.

• We successfully completed a database health check and discovery and strategy workshop. These together have provided us with the information we need to decide on our next steps towards cleaning and tightening up the data we hold on our database. The overall aim is to have a healthier database which provides the Sarcoma UK team with accurate data that in turn enables better decision making and improved communications.

• In January 2023 we extended our office space within JDRF UK offices.

• We welcomed six new trustees to Sarcoma UK throughout the year. The new trustees will support and enhance our governance and have made us more diverse and representative of the community we serve.

• Completed our first Research Audit, analysing funding trends across subtypes, grant types and other splits in September 2022.

• We reviewed our information, demand for content and stock levels by conducting a review of 12 of our resources across the year and conducting our first information audit compiling a report of our findings.

• Created a comprehensive and robust patient involvement platform across the organisation with over 100 members.

2. A positive, skilled team with appropriate training and development

• The staff Wellbeing Group continued to support staff wellbeing through staff away days, team building activities and staff wellbeing surveys.

• The staff team took part in a values and cultures workshop, where we reviewed and updated our organisational values as a team. We officially launched our new values in April 2023.

• We welcomed four new permanent staff members to the team, offering their skills to our operations, fundraising and support line teams.

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

3. Focus on equality, making our services accessible to all people with sarcoma, with no one left behind

• The Equality, Diversity and Inclusion Working Group (EDI) continued to look at how Sarcoma UK can engage with the wider sarcoma community, and as things progress will take the initial steps towards making this happen. The main focus this year was on:

• Engagement with the Black community including future comms around Black History Month (October 2023).

• Produced an internal EDI guide/prompt to be incorporated into staff projects. This has been trialled with the support line team and will be rolled out to all staff as part of Black History Month (October 2023).

• Our CEO and Patient Involvement Co-ordinator will be attending a Cultural Awareness and Race Equality workshop in May 2023.

• Identified the need for our comms to adhere to accessibility standards, this will be more prominent in 2023/24.

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

How we raise and spend our money

----- Start of picture text -----
Corporate
Gift Aid Donations
Investment
income 8% 6%
Medical Research
1%
Council
10%
Trusts & foundations
3%
Major giving
How we raised 5%
£2,889,367
Sarcoma UK
special events
7%
General donations
60% Legacies
1%
Awareness,
campaigns
& education
17% Raising funds
27%
Information & How we spent
support 13% £2,896,050
Research
43%
----- End of picture text -----

The above activities include 11% support costs and 1% governance costs, which have been reallocated to each activity (see notes to financial statements)

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

Future Plans

In the coming year we will continue on our path towards achieving the objectives outlined in our strategy to 2026.

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

Specifically in 2023-24 this includes activity aimed at helping us:

1. Reach everyone who is affected by sarcoma with our support and information, particularly those groups such as those from any ethnic minority community who we have failed to reach previously.

2. Engage with people closer to the point of diagnosis.

3. Support patients at every step of their sarcoma journey.

4. Fund and support the next generation of sarcoma researchers and encourage networking and collaboration.

5. Combine our grant funding streams to increase flexibility and efficiency.

6. Involve people affected by sarcoma in our research programme so that it is better informed by their experiences and priorities.

7. Launch targeted calls for funding in priority areas of research.

8. Work more closely with the sarcoma research community to shape our research programme and priorities.

9. Collaborate with healthcare professionals to engage with the National Institute for Health and Care Excellence (around guidelines, appraisal of new drugs and to improve delays to diagnosis).

10. Facilitate networking and collaboration among healthcare professionals to encourage the sharing of best practice and service improvement ideas.

11. Improve the quantity and quality of education on sarcoma for healthcare professionals.

12. Improve referral pathways and improve quick access to scans.

13. Influence UK governments, the NHS and other policymakers to improve how sarcoma is diagnosed.

14. Prioritise research into the earlier diagnosis of sarcoma.

15. Create a strong, stable organisation with good governance, systems and processes.

16. Have a positive, skilled team with appropriate training and development.

17. Focus on equality, making our services accessible to all people with sarcoma, with no one left behind.

18. Increase public awareness of sarcoma through higher profile and targeted campaigns.

19. Raise the funds to support the priorities above.

Governance, Structure and Management

Legal Entity

Sarcoma UK is a charity registered in England and Wales with the Charity Commission on 17 January 2011, and registered as a charity in Scotland on 12 September 2013. Its governing documents are its memorandum and articles of association. Sarcoma UK is also a company limited by guarantee incorporated with Companies House on 10 January 2011.

Sarcoma UK is sole corporate Trustee of former charity The Sarcoma Trust.

Charitable Objectives

The objectives of the charity are: to promote and protect the physical and mental health of patients with bone and soft tissue sarcomas in the United Kingdom through the provision of information, support, education and practical advice to them, their families and their carers; the relief of sickness and the preservation of health in particular by promoting and

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

supporting research with the publication of the useful results thereof and the development of more effective treatment and care for patients with bone and soft tissue sarcomas; to advance the education of the general public in all areas relating to sarcoma.

Board of Trustees 2022/23

Sharon Reid – Chair

Sharon is a former Executive Director and Chief Operating Officer at Edelman, the world’s largest PR agency, and has worked in communications for the last 18 years.

Sarah Conneally (term of office ended June 2023)

Sarah is former Head of Events & Visits at 10 Downing Street, having worked for both David Cameron and Theresa May. Sarah was a colleague of Chris Martin at 10 Downing Street and she led their working group during our charity of the year partnership in 2016. Sarah is now a director at the newly formed Commonwealth Summit Unit, part of the Cabinet Office.

Andy Eckles (term of office ended October 2022)

Andy has 30 years’ experience in finance, as both an auditor and currently as Group Financial Controller at Huntswood, a company that provides specialist resourcing and consultancy services. Andy’s son, Tom, passed away from Ewing’s sarcoma in September 2015.

Professor Ian Judson (term of office ended October 2022)

Ian has been treating patients with sarcoma for 25 years as Head of the Sarcoma Unit at the Royal Marsden until his retirement in 2016. He has conducted many clinical trials in this area, and was a founder member of the British Sarcoma Group, and President until 2015.

Louisa Nicoll

Louisa is a nurse with extensive experience in the delivery of oncological and specialist palliative care services. She is currently Ward Manager at a Sue Ryder hospice in Henleyon-Thames. Louisa’s husband was diagnosed with high grade osteosarcoma in March 2016 and sadly died in August 2020.

Michael Parry

Michael is a Consultant Orthopaedic Surgeon at the Royal Orthopaedic Hospital specialising in orthopaedic oncology and primary and revision lower limb arthroplasty. His specialist interests are in orthopaedic oncology and lower limb arthroplasty, with a particular interest in the management of infected joint replacements.

Isla Robinson

Isla Robinson is a freelance Marketing Consultant (Director level) with over 15 years’ experience of local and global marketing, including as a lead member of the team for Campari UK. Isla brings her professional expertise to the Board alongside first-hand experience of Ewing’s sarcoma with which she was diagnosed in 2011. This was when Isla first discovered Sarcoma UK, and she has since found the charity to be a ‘key source’ of reliable information.

Anjula Thompson

Anjula qualified as a Solicitor in 1993. She worked in private practice for 10 years and

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

thereafter as a legal officer in the voluntary sector before taking up her current role, in 2005 as a Deputy District Judge, adjudicating in Civil and family cases. Anjula is the wife of Sarcoma UK trustee Dave Thompson who sadly passed away in 2016.

Johanne Vass (term of office ended June 2023)

Jo is a Sarcoma Advanced Nurse Practitioner, the lead for sarcoma nursing services and a key member of the South Wales Sarcoma Multi-Disciplinary Team. She was the first sarcoma specialist nurse to be appointed in South Wales in 2012.

Ruby Sangha MSc MBA (appointed June 2022)

Ruby has 17 years of experience across the healthcare and life science industry. From working in clinical trials, to helping new and emerging medical devices and digital health technologies access the NHS and meet the needs of patients and doctors. Ruby has also worked in the pharmaceutical industry, leading and establishing partnerships with startups. Ruby also works to help government investment programmes determine start-ups that meet the needs of the UK healthcare industry. She has also worked in management consulting in various projects across the pharmaceutical industry, government and NHS.

Hristo Anastasov (appointed June 2022)

Hristo has valuable fundraising experience, participating in the Board of Cardiff Round Table charity for two years, where he was responsible for the distribution of funds, as well as supporting the charity in its efforts to raise more. In his work at Amazon, Hristo is in charge of managing the Pet Private Brand Business across Europe, as well as optimising internal ways of working. Hristo is also completing an MBA at one of the world’s leading universities and is expanding his network both domestically and internationally. He hopes this will enable him to help Sarcoma UK foster more corporate and NGO partnerships.

Jamie Ford-Cordes FCCA (appointed June 2022)

Jamie has over 30 years experience working in the financial services environment, with the last 10 years as a financial control manager at Santander UK. He is a fully qualified FCCA accountant and has been for over 20 years. Jamie hopes both his work and personal experiences will help provide another perspective and help with the ongoing work being completed at Sarcoma UK.

Dr Aisha Miah (appointed October 2022)

Aisha has spent more than a decade as Consultant Clinical Oncologist at the Sarcoma Unit, The Royal Marsden Hospital and is Honorary Faculty of the Division of Radiotherapy and Imaging at The Institute of Cancer Research, delivering on radiotherapy research studies for sarcoma patients. Aisha has also led on the delivery of education and training for Specialist Registrars in London and the South-East as Training Programme Director for Clinical Oncology. From a clinical perspective, she first joined the sarcoma community 10 years ago and quickly learnt the challenges in treating sarcoma and improving knowledge among health care professionals and the public. She represented Sarcoma UK as a member of the Morcellation Task and Finish Group to develop RCOG patient information leaflets and consent advice to raise awareness of uterine sarcomas.

Dr Sally Johnson (appointed October 2022)

Sally is an experienced NHS GP and medical leader with expertise in clinical governance, quality improvement and the operationalisation of new clinical services. She has 12 years of Board experience as Medical Director and Chief Medical Officer of a number of healthcare organisations that provide NHS primary care, urgent care and private telemedicine. Sally has

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

recent leadership experience in private digital healthcare and the global Covid vaccination programme. Sally has personal experience of sarcoma from when a close friend was diagnosed with sarcoma. After watching her friend’s journey, Sally is keen to promote awareness of sarcoma amongst medical professionals to ensure early diagnosis and treatment.

Dr Fiona Cowie MBBS FRCR (appointed December 2022)

Fiona Cowie is a Clinical Oncologist at the Beatson West of Scotland Cancer Centre, Glasgow, specialising in the management of adult patients with sarcomas, and children who need radiotherapy. She also undertakes the long term follow up of childhood cancer survivors. Fiona has been actively involved in managing people affected by sarcoma for over 20 years and has been constantly learning about the many different aspects of sarcoma. She has also been involved with paediatric cancer care, Young Adult cancer care and long term follow up after treatment. Fiona also has extensive medical panel and voluntary sector experience, including as a Duke of Edinburgh leader.

The Board continue to follow the Charity Governance Code, to manage and take responsibility for Trustee governance. The Board has two committees, the Nominations and Human Resources (NHR) Committee and the Governance, Risk and Finance (GRF) Committee. The Board have produced a detailed Charity Governance Code assessment document, which is reviewed by the GRF Committee and presented to the Board. As a result the following actions will be incorporated in 2023/24.

1. Formalised Vice Chair role and appointment to start in December 2023.

2. Review of the Sub Committee structure and membership.

3. Changes to the format and content of Board meetings including phasing and frequency.

Nominations and Human Resources Committee (NHR)

Responsible for HR and staffing issues, including staff remuneration. Responsibility for the renewal of tenure, recruitment and appointment of trustees is also delegated to the NHR Committee who make recommendations to the Board of Trustees.

Current members:

• Isla Robinson - Chair

• Louisa Nicoll

• Ruby Sangha

• Hristo Anastasov

Governance, Risk and Finance Committee (GRF)

Responsible for overseeing governance, organisational risk and working with the Senior Management Team on finance. The GRF Committee make recommendations to the Board of Trustees.

Current members:

• Ian Judson – Chair (until October 2022)

• Jamie Ford-Cordes – Chair (from October 2022)

• Andy Eckles (until October 2022)

• Anjula Thompson

• Johanne Vass (until June 2023)

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

Trustee Appointment and Induction

Sarcoma UK places a high value on having an informed and skilled Board of Trustees which guides the charity to achieve its ambitious goals.

Trustees serve a three-year term, after which they are eligible for re-election for a further three years.

New trustees are recruited in various ways, according to the skills sought by the Board. Vacancies are advertised in national charity media. through professional networks and via the charity’s website and networks. Potential trustees are invited to submit a formal application and attend an interview with the Nomination and Human Resources Committee.

All trustees receive the Trustee Handbook, setting out the role and responsibilities of Sarcoma UK trustees, including the charity’s policies and procedures relating to governance. A Register of Trustees’ Interests is in place and updated annually.

All new trustees receive the governing document, strategy and business plan, published accounts and minutes of previous Board of Trustee meetings, Trustee Handbook, as well as Charity Commission guidance on effective governance. A formal induction programme is in place, where trustees spend time with the Chief Executive and the Senior Management Team. Trustees are subscribed to Governance publication and are encouraged to attend training and other events for charity trustees.

Organisational Structure

The Board of Trustees sets the strategic direction of Sarcoma UK and approves the main policies of the charity. It appoints and directs the Chief Executive, monitors performance and identifies and manages the major risks facing the charity. The Board meets four times a year.

The Board delegates responsibility for the running of the charity to the Chief Executive with clearly communicated and recorded executive limits. The Chief Executive is responsible and accountable for achieving Sarcoma UK’s strategic objectives and delivering the annual business plan. A Senior Management Team is in place to support the Chief Executive, providing leadership across key areas of the charity’s work, and ensuring delivery of the charity’s day-to-day work.

Sarcoma UK’s Senior Management Team consisted of:

• Chief Executive

• Director of Finance and Resources

• Director of Fundraising and Communications

• Director of Research, Policy and Support

Sarcoma UK has a policy for reviewing staff salaries, set out in the Staff Handbook. Staff salaries are reviewed annually by the Board of Trustees NHR Committee, on behalf of the Board of Trustees, and benchmarked against voluntary sector pay surveys and inflation. The remuneration of senior management is covered under this policy.

The trustees are grateful to the staff team for the outstanding work they do on behalf of people affected by sarcoma.

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

Volunteers

The trustees recognise the valuable contribution made by volunteers to Sarcoma UK and wish to record their gratitude for this commitment. These include: members of Sarcoma UK’s Grant Review Panel; sarcoma support group leaders; Sarcoma UK’s Information Review Panel; Sarcoma UK’s Medical Advisory Group, individuals and families who have provided their stories for use as case studies; everyone who has undertaken fundraising and awareness-raising in their communities; everyone who has set up information stands or cheering stations at events; and everyone who has supported Sarcoma UK at events and activities throughout the year. In accordance with accepted practice, no amounts are included in the financial statements to reflect the value of work undertaken by volunteers.

Risk management

To manage risk effectively, Sarcoma UK uses a risk assessment model. The model was updated in October 2022, setting out a clearer processes for identifying major strategic risks, assessing their likelihood, impact and, where appropriate, the measures that need to be implemented to mitigate the risks. The highest priority risks are regularly reviewed by the Senior Management Team and the Trustee Governance Risk and Finance Committee and appropriate actions against these risks are established.

In our risk assessment model, risks are categorised under the following headings: Financial, Governance, People, Technology, Charitable Activities, Environmental and External Factors, Law and Regulation and Fundraising.

The most significant risks identified throughout 2022-23 included:

1. Failure to raise income required because of cost of living crisis, another pandemic, the effects of Brexit and an economic downturn.

2. Over reliance on a few income sources.

3. Key staff leaving (high staff turnover).

4. Cyber fraud.

To manage these risks, the following actions will be incorporated into the risk model:

1. Refresh of Fundraising Strategy and the diversification of our income channels. 5. Continue to review the cost of living crisis and benefits offered to staff and carry out periodic salary benchmarking exercises.

2. Integrating a Cyber Security Strategy across the charity and consider obtaining the Cyber Essentials Plus trademark, reassuring stakeholders that we have strong cyber security measures in place.

The trustees are satisfied that appropriate systems are in place and further steps are planned to manage and mitigate these most significant risks.

Grant Making Policy

Sarcoma UK is a member of the Association of Medical Research Charities (AMRC), an organisation of the leading medical and health research charities in the UK. In accordance with AMRC best practices, Sarcoma UK is committed to ensuring the highest standards of accountability, balance, independence, rotation of expertise and impartiality in our research programme.

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

We work with our Research Strategy Committee in setting and working to a research strategy. Our funding decisions are made based on recommendations from our Grant Review Panel on the basis of the scientific quality of the studies proposed, and the relevance to people affected by sarcoma, while considering the amount of overall funding available. Assessment criteria is published openly on the charity’s website.

We hold annual calls for proposals, which are open competition and publicised on our website and to the sarcoma research community. Applications submitted are subject to a preliminary triage of their eligibility. All applications which fall within scope for the call and for which the due diligence process has not identified any unacceptable issues will be considered. Eligible applications undergo a rigorous external review process by sarcoma research experts and people affected by sarcoma. All panel members and external peer reviewers adhere to our Principles of Peer Review Policy, as well as declaring conflicts of interest in line with our Conflicts of Interest Policy. Applicants are offered the opportunity to respond to comments from peer and lay reviewers before applications are discussed by our Grant Review Panel.

Our Grant Review Panel and Research Strategy Committee are made up of independent scientific experts as well as people with a personal connection to sarcoma. The Grant Review Panel considers all peer and lay reviews and responses and scores each application independently and anonymously. The panel then makes recommendations for funding to Sarcoma UK’s Board of Trustees, who approve the final grants to be awarded.

All grant-holders submit regular progress reports each year and a final report at the end of the project. We keep in regular contact with our grant-holders to assess progress and impact throughout the lifetime of the project and beyond.

Further information: https://sarcoma.org.uk/our-research/how-we-fund-research.

Public Benefit

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

Working with Others

Sarcoma UK recognises that progress towards our goals is maximised when working collaboratively with others who share an interest in improving the lives of people affected by sarcoma. As the only UK charity focusing on all types of sarcoma, we aim to work collaboratively with the whole sarcoma community to achieve our vision for the future. In 2022/23, Sarcoma UK had collaborations with: the Association of Medical Research Charities (AMRC); BMJ Learning; Boom Foundation (Northern Ireland); British Sarcoma Group; The Bone Cancer Research Trust; Cancer 52; National Cancer Registry and Analysis Service (NCRAS), Welsh Cancer Intelligence and Surveillance Unit, Information Services Division of the NHS National Services Scotland, N. Ireland Cancer Registry, GIST Cancer UK; National Cancer Research Institute (NCRI) sarcoma clinical studies group; National Institute of Health and Care Excellence (NICE); National Sarcoma Forum (of specialist nurses); NHS England; Public Health England, the Sarah Burkeman Trust; Sarcoma Patients EuroNet; the Scottish Sarcoma Network; the network of sarcoma specialist centres – bone and soft tissue – in England, Wales and Northern Ireland; Sarcoma Advisory Group (SAG) Chairs; the Children and Young People’s Cancer Coalition; and all the charities that formed part of our 20for20 campaign.

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

Financial Review

Income

Sarcoma UK has made excellent progress against its objectives for the year, successfully raising £2,889,367, an increase of 14% from the previous year (2022: £2,539,882). This increase is primarily due to increased fundraising activities throughout the year, and we were fortunate to receive a grant from the UK Government COVID Medical Research Charity Support Fund for the second year running.

The trustees wish to thank all donors for their invaluable support during the year, which is helping Sarcoma UK transform the lives of everyone affected by sarcoma.

Expenditure

Total expenditure increased to £2,896,050 (2022: £2,434,851), an increase of 19% mainly as a result of:

• Increasing research grants payable by £100,018.

• An increase in staff costs by £182,996 following new posts within the support line team and fundraising, and a one-off payment to support staff during the cost of living crisis.

• An increase in awareness and campaigning costs by £53,070 due to our first investment in early diagnosis commissioned research and costs associated with the SAG Chairs conference.

• PR and marketing costs increased by £39,128 to support an additional Facebook challenge and PR consultancy support throughout the year, both creating increased public awareness of sarcoma.

Sarcoma UK monitors spending closely, employing the use of financial management and budgetary controls across the charity and expenditure on our charitable activities remained high at 73% of total expenditure. We strive to keep the costs of raising money to a minimum. This year for every £1 spent on fundraising £3.71 was raised, this decreased from the prior year as we invested in our fundraising team and activities.

A small deficit of £6,683 (2022: surplus £105,031) was made this year and decreases total charity funds to £1,506,849 (2022: £1,513,532), of which £13,240 are restricted. The reserves policy is discussed below.

Reserves Policy

Sarcoma UK revised its reserves policy during 2023. The Board of Trustees now aim to maintain reserves at a level which equates to approximately six months of operational costs including budgeted salary, rent and support costs. This is approximately £720,000 for the forthcoming year.

Due to the generosity of our supporters and the outstanding performance of Sarcoma UK’s fundraising team, the total funds of the charity at 31 March 2023 were £1,506,849 of which £13,240 are restricted. This leaves a balance of £1,493,609 as unrestricted funds. The trustees monitor reserves very carefully and regularly assess investment opportunities to ensure that money raised is invested in the most effective ways. They have agreed to designate £100,000 of these unrestricted funds to our core research costs and £100,000

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

to our information and support service in 2023/24, £14,020 are tied up as fixed assets leaving a balance of £1,279,589, which exceeds the level required by the reserves policy £720,000. Remaining funds of £559,589 will be applied to furthering our mission to ensure everyone affected by sarcoma receives the best treatment, care, information and support available and to create the treatments of the future. In particular the Board of Trustees plan to reduce reserves in line with the reserves policy by investing in the following strategic activity in 2023/24:

• Increasing our research funding by over £300,000.

• A childhood cancer collaboration campaign.

• New staff to support our strategic objectives and to diversify our income channels.

• Increased awareness raising amongst the general public and those who have been affected by sarcoma.

The reserves policy including designation of funds will be reviewed in 2024 to ensure it is adequate for the charity’s future operational needs.

Statement of responsibilities of the trustees

The trustees (who are also directors of Sarcoma UK for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing these financial statements, the trustees are required to:

• Select suitable accounting policies and then apply them consistently.

• Observe the methods and principles in the Charities SORP.

• Make judgements and estimates that are reasonable and prudent.

• State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements.

• Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

• There is no relevant audit information of which the charitable company’s auditor is

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

unaware.

• The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 March 2023 was 13 (2022:9). The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Auditor

Sayer Vincent LLP was re-appointed as the charitable company's auditor during the year and has expressed its willingness to continue in that capacity.

The trustees’ annual report has been approved by the trustees on 5 October 2023 and signed on their behalf by

Sharon Reid Chair of Trustees

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

Acknowledgements

Patron Richard Whitehead MBE Founder Roger Wilson CBE Celebrity Ambassadors Jake Quickenden, Gavin Ramjaun, Sandra Dickinson, Mark Osmond and Angela Barnes. Ambassadors Lesley Abraham, Shelagh Allison, Zoe Conway, Jan Cornell, Maddie Cowey, Karen Delin, Dr Alison Dunlop, Andy Eckles, Mark Gould, Amelia Granville, Zoe Homer Emmerson, Prof Ian Judson, Gina Long, Steve Mayer, Leona Rankin, Ian Randall, Glenys Stittle, Baroness Liz Sugg, Dr Rachel Taylor, Jasmine Thompson, Zoe Thompson, Wendy Watkins, Sam Whittam, Dr Jeff White, Glyn Wilmshurst, Sheelagh Wilson and John and Sue Young.

Grant Review Panel

Dr Sam Behjati, Group Leader at the Wellcome Sanger Institute. Consultant Paediatric Oncologist, Addenbrooke’s Hospital, Cambridge.

Dr Madeleine Adams, Consultant Paediatric Oncologist, Children’s Hospital for Wales, Cardiff.

Professor Andrew Beggs, Professor of Cancer Genetics & Surgery, University of Birmingham.

Professor Susan Burchill, Professor of Adolescent and Paediatric Cancer Research, Leeds Institute of Cancer and Pathology, University of Leeds.

Dr Quentin Campbell-Hewson, Consultant Paediatric Oncologist, Great North Children’s Hospital in Newcastle upon Tyne.

Dr Louise Carter, Senior Clinical Lecturer in Experimental Cancer Medicine, University of Manchester.

Julia Casimo, lay panel member.

Dr Will English, Lecturer in Medical Education, Norwich Medical School, University of East Anglia and Honorary Research Fellow in the Department of Oncology and Metabolism, University of Sheffield.

Mr Craig Gerrand, Consultant Orthopaedic Surgeon, Royal National Orthopaedic Hospital.

Professor Rebecca Gladdy, Associate Professor in the Department of Surgery, The University of Toronto and a Principal Investigator at the Lunenfeld-Tanenbaum Research Institute, Canada.

Dr Paul Huang, Team Leader, Division of Molecular Pathology, Institute of Cancer Research.

Becky Hughes , lay panel member.

Dr Olivier Pardo , Team Leader in Division of Cancer, Imperial College London.

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

Dr Sophie Postel Vinay, Physician Scientist at the Drug Development Department and. U981 INSERM research unit, Gustave Roussy Cancer Centre, France.

Alasdair Punton, lay panel member.

Leanne Thorndyke, lay panel member.

Dr Zoë Walters, Associate Professor in TranSupport Lineational Epigenomics, University of Southampton.

The following individuals joined the Grant Review Panel on an ad-hoc basis for Sarcoma UK’s Improving Sarcoma Diagnosis Research Round:

Dr Adam Dangoor, Consultant in Medical Oncology, Bristol Cancer Institute.

Dr Rob Turner, Consultant Clinical Oncologist, Leeds Teaching Hospital NHS Trust.

Research Strategy Committee

Professor Bernadette Brennan (chair), Consultant Paediatric Oncologist at the Royal Manchester Children’s Hospital.

Dr Cristina Antonescu, Director, Bone and Soft Tissue Pathology, Memorial Support Lineoan Kettering Cancer Centre, New York.

Dr Sam Behjati , Group Leader at the Wellcome Sanger Institute. Consultant Paediatric Oncologist, Addenbrooke’s Hospital, Cambridge.

Chris Copland , lay member.

Dr Fiona Cowie , Clinical Oncologist, Beatson West of Scotland Cancer Centre, Glasgow and Sarcoma UK Trustee.

Professor Rick Haas , nominated Professor of Radiotherapy with a focus on bone and soft tissue sarcomas, Leiden University, The Netherlands.

Professor Bernd Kasper , Medical oncologist and leads Mannheim Cancer Center (MCC), Mannheim University Medical Center, Germany.

Professor Heinrich Kovar , Head of the Molecular Biology of Solid Tumours group, St. Anna Children's Cancer Research Institute Austria.

Emma McCloskey , lay member.

Dr Michael Parry , Consultant Orthopaedic Surgeon, Royal Orthopaedic Hospital and Sarcoma UK Trustee.

Professor Fiona Thistlethwaite, Medical oncology consultant within the Experimental Cancer Medicines Team (ECMT) and Medical Director of the Christie Clinical Research Facility, Manchester.

Professor Gareth Veal , Professor of Cancer Pharmacology, University of Newcastle.

Professor Ian Judson (interim chair for first meeting only)

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Sarcoma UK Report of the Trustees For the year ended 31 March 2023

Supporters

Sarcoma UK is deeply grateful to all those who have supported us during the year.

Sarcoma UK could not exist without the kindness of our supporters who contribute to our progress in a wide variety of ways. While many people support the charity through financial donations, others contribute through volunteering, giving their time, energy, passion, and skills.

A huge thank you to all our supporters.

33

Sarcoma UK Independent Auditor’s Report For the year ended 31 March 2023

Opinion

We have audited the financial statements of Sarcoma UK (the ‘charitable company’) for the year ended 31 March 2023 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• Give a true and fair view of the state of the charitable company’s affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended

• Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice

• Have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended)

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on Sarcoma UK's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the trustees’ annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly

34

Sarcoma UK Independent Auditor’s Report For the year ended 31 March 2023

stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• The information given in the trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• The trustees’ annual report has been prepared in accordance with applicable legal requirements

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

• Adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• The financial statements are not in agreement with the accounting records and returns; or

• Certain disclosures of trustees’ remuneration specified by law are not made; or

• We have not received all the information and explanations we require for our audit; or

• The directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ annual report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable,

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Sarcoma UK Independent Auditor’s Report For the year ended 31 March 2023

matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with regulations made under those Acts.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

• We enquired of management, which included obtaining and reviewing supporting documentation, concerning the charity’s policies and procedures relating to:

• Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;

• Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;

• The internal controls established to mitigate risks related to fraud or noncompliance with laws and regulations.

• We inspected the minutes of meetings of those charged with governance.

• We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience.

• We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit.

• We reviewed any reports made to regulators.

• We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.

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Sarcoma UK Independent Auditor’s Report For the year ended 31 March 2023

• We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due tofraud.

• In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Noelia Serrano (Senior statutory auditor) Date: 6 November 2023

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006.

37

Sarcoma UK

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2023

Reconciliation of funds: Total funds brought forward Total funds carried forward Income from: Donations and legacies Investments Total income Note 2 Expenditure on: Raising funds 3 Charitable activities Research 3 Information and support 3 Awareness, campaigns and education 3 Total expenditure Net (expenditure) / income and net movement in funds for the year 5	Unrestricted £ 2023 Total £ 2022 Total £ Restricted £ Unrestricted £ Restricted £ 2,303,091 568,015 2,871,106 2,001,718 528,429 2,530,147 18,261 - 18,261 9,735 - 9,735
	2,321,352 568,015 2,889,367 2,011,453 528,429 2,539,882
	772,935 - 772,935 652,468 - 652,468 714,263 542,340 1,256,603 616,399 495,761 1,112,160 358,000 6,373 364,373 290,493 10,000 300,493 486,373 15,767 502,140 354,634 15,097 369,731 2,331,571 564,480 2,896,051 1,913,993 520,858 2,434,851
	1,503,827 9,705 1,513,532 1,406,367 2,134 1,408,501 3,535 (6,684) 97,460 7,571 105,031 (10,219)
	1,493,608 13,240 1,506,848 1,503,827 9,705 1,513,532

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 15 to the financial statements.

38

Sarcoma UK

Company no. 7487432

Balance sheet

As at 31 March 2023

Note Fixed assets: Tangible assets 10 Net current assets Total assets less current liabilities Total unrestricted funds Total charity funds Current assets: Debtors 11 Short term deposits Cash and cash equivalents Liabilities: Creditors: amounts falling due within one year 12 Creditors: amounts falling due after one year 13 Total net assets 14 The funds of the charity: 15 Restricted income funds Unrestricted income funds: Designated funds General funds	£ 590,166 110,878 4,331,906	14,020 2023 £	£ 526,555 109,534 3,718,176	13,354 2022 £
		14,020 3,331,265		13,354 3,178,304
	5,032,950 1,701,685		4,354,265 1,175,961
	200,000 1,293,608		200,000 1,303,827
		3,345,285 1,838,437		3,191,658 1,678,126
		1,506,848		1,513,532
		13,240 1,493,608		9,705 1,503,827
		1,506,848		1,513,532

Approved by the trustees on 5 October 2023 and signed on their behalf by Sharon Reid

Sharon Reid Chair of Trustees

39

Sarcoma UK

Statement of cash flows

For the year ended 31 March 2023
Cash flows from operating activities: Net cash provided by operating activities Cash flows from investing activities: Transferred to short term deposits Interest received Profit on disposal of fixed assets Purchase of fixed assets Net cash provided by / (used in) investing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Analysis of cash and cash equivalents Total cash and cash equivalents Cash at bank and in hand Notice deposits (less than three months) Net income for the reporting period (as per the statement of financial activities) Depreciation charges Sale of fixed assets Interest (Increase) in debtors Increase in creditors	2023 £ £ 4,699 496 (18,261) (63,611) 686,035 At 1 April 2022 £ (6,684) 602,674 11,056 613,730 3,718,176 4,331,906 3,718,176 (1,345) 18,261 536 (6,396) 3,305,336 412,840		2022 £ £ 7,531 - (9,735) (166,866) 538,264 Cash flows £ As at 31 March 2023 £ 105,031 474,225 (966) 9,735 2,670 (13,597) (2,158) 472,067 3,246,109 3,718,176 3,915,511 416,395 613,730 4,331,906 610,175 3,555
	(1,345) 18,261 536 (6,396)		(966) 9,735 2,670 (13,597)
			Cash flows £ 610,175 3,555
		613,730 3,718,176		472,067 3,246,109
		4,331,906		3,718,176
		At 1 April 2022 £ 3,305,336 412,840		As at 31 March 2023 £ 3,915,511 416,395
		3,718,176	613,730	4,331,906

40

Sarcoma UK

Notes to the financial statements

For the year ended 31 March 2023

1 Accounting policies

a) Statutory information

Sarcoma UK is a charitable company limited by guarantee and is incorporated in the United Kingdom. The registered office address (and principal place of business, if different from the registered office) is 49-51 East Road, London, N1 6AH.

b) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

c) Public benefit entity

The charitable company meets the definition of a public benefit entity under FRS 102.

d) Going concern

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from revenue grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

f) Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

g) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

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Sarcoma UK

Notes to the financial statements

For the year ended 31 March 2023

1 Accounting policies (continued)

h) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

i) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

• ˜ Costs of raising funds relate to the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose

• ˜ Expenditure on charitable activities includes the costs of raising sarcoma awareness, funding research and providing information and support, all undertaken to further the purposes of the charity and their associated support costs

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

j) Grants payable

Grants payable are made to third parties in furtherance of the charity's objects. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and that any condition attaching to the grant is outside of the control of the charity.

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

k) Allocation of support costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity.

Support costs are those costs which do not in themselves constitute a charitable or fundraising activity, but are the central office functions necessary to support these activities. They include administration, finance, HR, database, IT and office overhead costs.

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

Support and governance costs are re-allocated to each of the activities on the following basis which is an estimate, based on staff time, of the amount attributable to each activity:

˜	Raising funds	33%
˜	Research	17%
˜	Information and support	26%
˜	Awareness, campaigns and education	24%

l) Operating leases

Rentals payable under operating leases, where substantially all the risks and rewards of ownership remain with the lessor, are charged to the statement of financial activities on a straight line basis over the minimum lease term.

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Sarcoma UK

Notes to the financial statements

For the year ended 31 March 2023

1 Accounting policies (continued)

m) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £250. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

• ˜ Fixtures and fittings 5 years ˜ Computer equipment 5 years

n) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

o) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

p) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

q) Pensions

The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. The pension cost charge represents contributions payable under the scheme by the charitable company to the fund. The charitable company has no liability under the scheme other than for the payment of those contributions.

2 Income from donations and legacies

Donations and gifts Legacies Donated goods and services	2,271,615 19,475 12,000 2,303,091 Unrestricted £	568,015 - - Restricted £	2023 Total £ 2,839,631 19,475 12,000	1,937,430 48,789 15,500 Unrestricted £	528,429 - - Restricted £	2,465,858 48,789 15,500 2022 Total £
		568,015	2,871,106	2,001,718	528,429	2,530,147

Donated goods and services include those donated to the Sarcoma UK Glitter Ball event from Diageo and Granville Films. Franklin Templeton also provided the venue and catering for a Sarcoma UK Team strategy away day.

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Sarcoma UK

Notes to the financial statements

For the year ended 31 March 2023

3a Analysis of expenditure (current year)

Analysis of expenditure (current year)
Support costs Governance costs Total expenditure 2023 Staff costs (Note 6) Other staff costs Research grants payable (Note 4) Research support (development scheme) Travel & subsistence Fundraising fees Fundraising materials Events, participation & publicity costs Fundraising appeals Donor relationship management PR & marketing Support services Awareness & campaigning projects Information services Office costs Office communication costs Membership subscriptions Trustees development, expenses & meeting costs Legal & professional Insurance Bank charges Depreciation & Loss on Disposal	Cost of raising funds £ 261,788 11,622 - - 247 59,288 34,460 253,086 3,964 5,776 - - - - - - 20,558 - - - - -	Charitable activities			Governance costs £ 22,176 308 - - - - - - - - - - - - - - 2,076 3,907 9,883 - - -	Support costs £ 185,753 35,123 - - 218 - - - - - - - - - 83,313 15,627 - - 2,293 2,931 895 5,235	2023 Total £ 1,053,379 68,458 1,036,833 10,853 4,397 59,288 34,460 253,086 3,964 5,776 121,928 13,711 69,135 11,294 83,313 15,627 25,404 3,907 12,176 2,931 895 5,235	2022 Total £ 870,383 54,401 936,815 6,000 1,545 42,896 14,708 268,138 5,669 737 82,800 10,259 16,065 1,410 71,621 10,736 12,471 2,226 10,794 4,495 480 10,202
		Research £ 131,481 10,344 1,036,833 10,853 1,036 - - - - - - - - - - - 2,672 - - - - -	Information and support £ 221,246 8,375 - - 1,917 - - - - - - 13,711 10,725 11,294 - - 49 - - - - -	Awareness, campaigns and education £ 230,935 2,686 - - 979 - - - - - 121,928 - 58,410 - - - 49 - - - - -
	650,789 109,476 12,669	1,193,219 56,809 6,574	267,317 86,989 10,067	414,987 78,113 9,040	38,350 - (38,350)	331,388 (331,388) -	2,896,051 - -	2,434,851 - -
	772,935	1,256,603	364,373	502,140	-	-	2,896,051	2,434,851.00

44

Sarcoma UK

Notes to the financial statements

For the year ended 31 March 2023

3b Analysis of expenditure (prior year)

Analysis of expenditure (prior year)
Support costs Governance costs Total expenditure 2022 Staff costs (Note 6) Other staff costs Research grants payable (Note 4) Research support (development scheme) Travel & subsistence Fundraising fees Fundraising materials Events, participation & publicity costs Fundraising appeals Donor relationship management PR & marketing Support services Awareness & campaigning projects Information services Office costs Office communication costs Membership subscriptions Trustees development, expenses & meeting costs Legal & professional Insurance Bank charges Depreciation & Loss on Disposal	Cost of raising funds £ 197,512 3,549 - - 396 42,896 14,708 268,138 5,669 737 - - - - - - 7,335 - - - - -	Charitable activities			Governance costs £ 25,024 1,771 - - - - - - - - - - - - - - 1,528 2,226 8,593 - - -	Support costs £ 200,578 39,389 - - 204 - - - - - - - - - 71,621 10,736 297 - 2,201 4,495 480 10,202	2022 Total £ 870,383 54,401 936,815 6,000 1,545 42,896 14,708 268,138 5,669 737 82,800 10,259 16,065 1,410 71,621 10,736 12,471 2,226 10,794 4,495 480 10,202
		Research £ 106,029 3,047 936,815 6,000 281 - - - - - - - - - - - 3,086 - - - - -	Information and support £ 174,474 3,845 - - 44 - - - - - - 10,259 451 1,410 - - - - - - - -	Awareness, campaigns and education £ 6,766 2,800 - - 620 - - - - - ,800 - ,614 - - - 225 - - - - - 16 8 1
	540,940 100,020 11,508	1,055,258 51,031 5,871	190,483 98,659 11,351	268,825 90,494 10,412	39,142 - (39,142)	340,203 (340,203) -	2,434,851 - -
	652,468	1,112,160	300,493	369,731	-	-	2,434,851.00

45

Sarcoma UK

Notes to the financial statements

For the year ended 31 March 2023
University of Liverpool (underspend) University College London Hospitals NHS University of Cambridge (Underspend) Newcastle University (Underspend) Birkbeck University of London (Underspend) University of Southampton (Underspend) Sheffield University (Underspend) University College London (Underspend) University College London (Underspend) University College London Hospitals NHS Foundation Trust (Underspend) Royal National Orthopaedic Hospital (Underspend) Institute of Cancer Research (Cancelled and reissued as part of collaboration with LifeArc) At the end of the year 4 Grant making Payment Schedule 2023 2024 2025 2026 2027-31 £ £ £ £ £ Grants to institutions: University College London - - - - - University of Birmingham - - - - - University of Birmingham - - - - - Imperial College London - - - - - Institute of Cancer Research - - - - - Institute of Cancer Research - - - - - Institute of Cancer Research - - - - - University of Leeds - - - - - University of Manchester - - - - - University of Sheffield - - - - - University College London - - - - - Imperial College London 54,007 76,360 19,632 - - University College London - 71,496 74,296 - - University Hospital Sussex NHS Trust 9,591 - - - - Institute of Cancer Research (LifeArc Collaboration) 23,000 22,500 22,714 6,013 - University College London - 41,860 - - Institute of Cancer Research - 108,211 41,539 - - Institute of Cancer Research - 56,771 53,634 39,523 - University of Edinburgh - 44,698 74,838 30,345 - Newcastle upon Tyne University Hospitals NHS - 33,954 47,451 27,523 40,911 University College London - 56,283 24,831 25,387 12,978 University of Southampton - 49,993 - - - Stipend Uplifts - - - - - Full details of grant making activities are disclosed on page 8-12 of the report of the trustees. 5 Net expenditure for the year Depreciation Profit on disposal of fixed assets Interest received Operating lease rentals: Property Auditor's remuneration (excluding VAT): Audit This is stated after charging / (crediting):	- - - - - (41,131) - (19,206) - (35) - (20) (6,573) - (1,295) - (305) - (8,082) - (9,850) - (148,455) - 1,036,833 936,815 2023 2022 £ £ - 44,160 - 22,000 - 23,707 - 120,000 - 149,812 - 148,455 - 120,000 - 149,435 - 119,951 - 49,686 - 50,000 149,998 - 145,792 - 9,591 - 74,227 - 41,860 - 149,750 - 149,928 - 149,882 - 149,839 - 119,479 - 49,993 - 21,054 - 1,211,393 997,207
	40,457 24,943 8,225 7,150 7,531 2,670 (9,735) 4,699 536 (18,261) 2023 2022 £ £

46

Sarcoma UK

Notes to the financial statements

For the year ended 31 March 2023

6 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Staff costs were as follows:
	2023	2022
	£	£
Salaries and wages	915,889	762,289
Redundancy and termination payments	-	4,893
Social security costs	97,014	76,791
Employer’s contribution to defined contribution pension schemes	39,927	31,700
Accrued holiday pay	549	(5,290)
	1,053,379	870,383
The following number of employees received employee benefits (excluding employer pension costs and national insurance contributions) during the year		between:
	2023	2022
	No.	No.
£100,001 - £110,000	1	-
£90,001 - £100,000	-	1
£60,001 - £70,000	2	2

The total employee benefits including pension contributions and national insurance of the key management personnel were £331,637 (2022: £317,522) incurred by 4 (2022: 5) employees.

Sarcoma UK spent £1,053,379 on staff costs, 69% of these staff costs were on 15 members of staff who support and directly drive awareness of sarcoma cancer, find answers through research, provide information and support to anyone affected by sarcoma cancer and campaign for better treatments and to improve standards of care. The remaining 31% was on 8 members of staff who raise the funds required to carry out the above charitable activitives.

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2022: £nil). No charity trustee received payment for professional or other services supplied to the charity (2022: £nil).

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £1,128 (2022: £235) incurred by 6 (2022: 3) members relating to attendance at meetings of the trustees. The costs shown in note 3 for trustees’ development, expenses and meeting costs also include costs relating to trustee meeting lunches, which are not direct trustee expenses relating to attendance at meetings of the trustees.

7 Staff numbers

The average monthly headcount of employees, analysed by activities was: Raising funds Research Information and support Awareness, campaigns and education Support and governance (re-allocated to the above activities based on staff time)	2023 No. 2022 No. 6 5 2 2 5 4 5 3 5 6
	23 20

Total number of staff by headcount at 31 March 2023 was 24 (including 7 part-time).

8 Related party transactions

Sarcoma UK Trustees and close family personally donated and raised £35,714 (2022: £17,342). This includes money raised through the London Marathon, treks and other events, and is unrestricted.

9 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

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Sarcoma UK

Notes to the financial statements

For the year ended 31 March 2023

10 Tangible fixed assets Cost or valuation At the start of the year Additions in year Disposals in year At the end of the year At the start of the year All of the above assets are used for charitable purposes. 11 Debtors Other debtors Prepayments Accrued income 12 Creditors: amounts falling due within one year Trade creditors Taxation and social security Other creditors Accruals Grants payable 13 Creditors: amounts falling due after one year Grants payable: 1 - 2 years 2 - 5 years Depreciation At the start of the year Charge for the year Disposals in year At the end of the year Net book value At the end of the year	Fixtures and fittings £ 29,520 - -	Computer equipment Total £ £ 48,726 78,246 6,396 6,396 (1,320) (1,320)
	29,520 29,520 - -	53,802 83,322 35,371 64,892 4,699 4,699 (288) (288)
	29,520	39,782 69,302
	-	14,020 14,020
	-	13,354 13,354
		2023 2022 £ £ 9,450 9,450 336,597 321,209 244,119 195,896
		590,166 526,555
		2023 2022 £ £ 156,110 13,549 23,855 22,762 6,806 5,920 109,130 54,609 1,405,784 1,079,121
		1,701,685 1,175,961
		2023 2022 £ £ 1,102,730 825,324 735,707 852,802
		1,838,437 1,678,126

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Sarcoma UK

Notes to the financial statements

For the year ended 31 March 2023

14a Analysis of net assets between funds (current year)

Analysis of net assets between funds (current year)
Tangible fixed assets Net current assets Long term liabilities Net assets at 31 March 2023	14,020 - - 14,020 3,118,025 200,000 13,240 3,331,265 (1,838,437) - - (1,838,437) General unrestricted Designated Restricted Total funds £ £ £ £
	1,293,608 200,000 13,240 1,506,848

14b Analysis of net assets between funds (prior year)

Analysis of net assets between funds (prior year)
Tangible fixed assets Net current assets Long term liabilities Net assets at 31 March 2022	13,354 - - 13,354 2,968,599 200,000 9,705 3,178,304 (1,678,126) - - (1,678,126) General unrestricted Designated Restricted Total funds £ £ £ £
	1,303,827 200,000 9,705 1,513,532

15a Movements in funds (current year)

Restricted funds: Sarcoma Trust Research Information and support Awareness, campaigns and education Total restricted funds Total unrestricted funds Total funds Total designated funds General funds Unrestricted funds: Designated funds: Research Information and support	At 1 April 2022 Income and gains Expenditure and losses Transfers At 31 March 2023 £ £ £ £ £ 10 - - - 10 - 542,340 (542,340) - - 5,000 1,873 (6,373) - 500 4,695 23,803 (15,767) - 12,730
	9,705 568,015 (564,480) - 13,240
	100,000 - (100,000) 100,000 100,000 100,000 - (100,000) 100,000 100,000
	200,000 - (200,000) 200,000 200,000
	1,303,827 2,321,352 (2,131,571) (200,000) 1,293,608
	1,503,827 2,321,352 (2,331,571) - 1,493,608
	1,513,532 2,889,367 (2,896,051) - 1,506,848

15b Movements in funds (prior year)

Unrestricted funds: Designated funds: Research Information and support Restricted funds: Sarcoma Trust Research Information and support Awareness, campaigns and education Total restricted funds Total designated funds General funds Total unrestricted funds Total funds	At 31 March 2021 Income and gains Expenditure and losses Transfers At 31 March 2022 £ £ £ £ £ 10 - - - 10 - 495,761 (495,761) - - - 15,000 (10,000) - 5,000 2,124 17,668 (15,097) - 4,695
	2,134 528,429 (520,858) - 9,705
	100,000 - (100,000) 100,000 100,000 100,000 - (100,000) 100,000 100,000
	200,000 - (200,000) 200,000 200,000
	1,206,367 2,011,453 (1,337,722) (200,000) 1,680,098
	1,406,367 2,011,453 (1,913,993) - 1,503,827
	1,408,501 2,539,882 (2,434,851) - 1,513,532

49

Sarcoma UK

Notes to the financial statements

For the year ended 31 March 2023

Purposes of restricted funds:

Sarcoma Trust

These funds represent the amounts retained within the Sarcoma Trust after becoming a linked charity with Sarcoma UK.

Research

These funds are to be used specifically towards research grants, as requested by the donor.

Information and Support

These funds are to be used specifically towards the provision of support and information for the sarcoma community, as requested by the donor.

Awareness, Campaigns and Education

These funds are to be used specifically towards raising awareness and improving standards of treatment and care, as requested by the donor.

Purposes of designated funds:

Research

These funds represent those designated by the trustees towards our core research costs in 2023/24. These core costs include research grants awarded and research management costs.

Information and Support

These funds represent those designated by the trustees towards our information and support service in 2023/24. These costs include the running of our support line service and production of patient information.

16 Operating lease commitments

The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods:

Less than one year	Property Equipment 2023 2022 2023 2022 £ £ £ £ 13,440 35,640 1,678 -
	13,440 35,640 1,678 -

17 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

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