##
##
|Chairman's
letter|||
|---|---|---|
|Director's introduction|||
|Trustees' report (incorporating|the strategic report and||
|directors' report)|||
|Independent
auditor's
report||50|
|Consolidated
statement of6nancial activities (incorporating||55|
|the income and expenditure
account)|||
|Consolidated
and Parent entity|balance sheets|56|
|Consolidated
cash. Row statement||57|
|Notes to the 6nancial statements||58|
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|ree reserves under this definition are:||||
|---|---|---|---|
|||2021|2020|
|||f:m|Em|
|Net current assets (excluding
endowment|funds)|30.4|21.5|
|Restricted funds held within net current|assets|(3.2)|(0.5)|
|Funds carried forward
against future deficit budget
Unexpended
building
project funds
Capital commitments||(6.0)
(0.3)
~13|(1.2)
~23|
|Underlying
free reserve position||19.6|17.5|
|Restricted endowment
—Grant from MRC||32.5|27.3|
|Reserves including
MRC endowment||||
##
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##
##
|Auditor|BDO LLP|55 Baker Street,|London W1U 7EU|
|---|---|---|---|
|Bankers|HSBC Bank pic|60 Queen Victoria Street, London EC4N 4TR||
|Solicitors|Bristows LLP|100Victoria Embankment,
London EC4Y ODH||
||DLA Piper|160Aldersgate|St,Barbican, London EC1A4HT|
||Mills and Reeve LLP|24 King William|Street, London EC4R 9AT|
||Town Legal LLP|10Throgmorton|Ave, London EC2N 2DL|
|Internal|RSM UK|170Midsummer|Boulevard, Milton Keynes MK9|
|auditor||1BP||
##
|2020/21 except where indic|ated, were:|||
|---|---|---|---|
||Appointed|Resigned|Appointment
type|
|Lord Browne of Madingley|||Independent|
|(Chair)||||
|Dame Kate Bingham|||Independent|
|Sir Adrian Bird|11January 2021||Independent|
|Isabelle Ealet|||Independent|
|Dr Brian Gilvary|||Independent|
|Sir Mene Pangalos|||Independent|
|Dr Iain Foulkes|||Founder nominated|
||||(Cancer Research|
||||UK)|
|Professor Fiona Watt|||Founder nominated|
||||(UKRI formerly|
||||known as MRC)|
|Paul Schreier|||Founder nominated|
||||(Wellcome)|
|Professor Margaret|||Founder
nominated|
|Dallman|||(Imperial
College|
||||London)|
|Professor Richard Charles|1 September||Founder
nominated|
|Trernbath|2020||(King's College|
||||London)|
|Professor David Lomas|||Founder
nominated|
||||(University
College|
||||London)|
|Professor Dame Ottoline||29June 2020|Independent|
|Leyser||||
|Professor Sir Robert||31August 2020|Founder nominated|
|Lechler|||(King's College|
||||London)|
##
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##
##
##
|is||is s|||||Management
o ns|
|---|---|---|---|---|---|---|---|
|Category||||||||
|un|ing|ong-term||nancia|||ore
un
ing an
university|
|||sustainability||is not|||overhead
contributions
are agreed|
|||secured beyond 2022|||||until the end ofthe financial
year|
|||—A crisis (as shown by the
COVID-19 outbreak)
affects Founders
from
delivering
planned
Core
funding.|||||2021/2022, but the COVID crisis has
had a direct impact on core funding
levels in 2020/21. The impact on core
funding
has continued
into 2021/22,
but the Crick is hugely grateful that
the reduced
levels offunding
from|
||||||||one ofour founders
have been fully|
||||||||compensated
by other core funders.|
||||||||-Longer-term
sustainability
plans|
||||||||have been developed
and are|
||||||||continuing
to be evolved in line|
||||||||with the forthcoming
Quinquennial|
||||||||Review, through
which the long-term|
||||||||funding
will be ultimately
agreed.|
||||||||These plans include clear strategies to|
||||||||diversify
income by increasing
levels|
||||||||of strategic grant funding,
commercial|
||||||||income and funds raised from both|
||||||||philanthropy
and investments.|
|eat|an|—Fai ure to||emonstrate|||iven t e nature o t e
nc
's|
|safety||compliance||with|||activities, this area is a key priority.|
|||statutory|health and||||Over the last 12-18months, there has|
|||safety obligations.|||||inevitably
been a strong focus on the|
|||—Physical and ITBreaches
oflaboratories
used for
high-risk
activity|||||management
of COVID-related
risks
by the Health gc Safety team, and
there is therefore
now an increased
focus on our core activities. Whilst|
||||||||management
are generally
satisfied|
||||||||that the Crick operates to the highest|
||||||||levels ofHealth gc Safety standards,|
||||||||we are initiating
a programme
to|
||||||||review processes, compliance
and|
||||||||culture, and to ensure any operational|
||||||||improvements
are identified
and|
||||||||implemented.|
##
|rustees'
repo|rt
(incorporating
the strategic report|rt
(incorporating
the strategic report|rt
(incorporating
the strategic report|rt
(incorporating
the strategic report|and directors'
report) continued||
|---|---|---|---|---|---|---|
|n rastructure|upp y c ain issues an
resilience||||e
nc
continues
to momtor
the resilience of its supply chain,||
||||||unavoidably
impacted
by both||
||||||COVID and Brexit.||
||||||Although
Brexit does not appear||
||||||to have had any major impact so||
||||||far, the Crick has been experiencing||
||||||disruptions
to supply ofcertain||
||||||consumables
such as gloves, pipette||
||||||tips and tissue culture plastics due||
||||||to a global shortage. An action||
||||||plan, including
working
closely||
||||||with strategic suppliers
and the||
||||||identification
and use of alternative||
||||||suppliers,
is implemented
to||
||||||anticipate
and prevent
any further||
||||||supply
disruption
and ensure the||
||||||uninterrupted
delivery of critical||
||||||scientific supplies.||
||- Disruption||to science|from noise,|—Whilst the potential
disruption||
||vibrations
and electro-magnetic||||from CrossRail 2 would be greater,||
||interference||from the construction||the impact is increasingly
likely to||
||and operation of CrossRail 2,the||||be many years away. The more||
||Brill Tower|as well as the British|||immediate
focus in 2020/21 was||
||Library development||||on the nearby
development
known||
||||||as Brill Tower, whose construction||
||||||started in August 2020.The building||
||||||basement
is now completed,
with||
||||||no major issues noted. The British||
||||||Library development
has now entered||
||||||the public consultation
period, and||
||||||this needs some focus as it is a more||
||||||extensive construction.
Mitigation||
||||||efforts include ongoing engagement,||
||||||technical analysis and discussion||
||||||ofrisk mitigating
actions with all||
||||||relevant
stakeholders.||
|Reputation|xterna
Institute|reviews or orms
reviews with founders|||rocesses are in p ace to ensure
regular coinmunication
about||
||are critical ofperformance||||Crick research, strong stakeholder||
||resulting|in funding||cuts or loss of|management
and effective crisis||
||reputation.||||response. Management
are satisfied||
||||||with the current processes, but||
||||||their importance
means that this||
||||||risk will probably
always remain||
||||||above appetite
and need ongoing||
||||||management
attention.||
|eop e|—Brexit re uces avai a
e ta ent
and the ability to deliver the||||e
rtc
as not
een negative
impacted
by Brexit so far but|y|
||Crick's strategy.||||continues to participate
in external||
||||||committees
and forums to understand||
||||||impact and to influence
policy in the||
||||||post-Brexit environment.||
##
##
##
|||I|I
I|I|
|---|---|---|---|---|
|Total emissions
(market based)*|tCOae|12,614|11,086|1$,341|
|Total emissions
(location based)"'|tCOae|18,731|18,464|19,341|
|Change year-on-year||14%|43%||
|Scope 1 emissions|tCOse|12,614|11,086|10,961|
|Scope 2(electric - market based)|tCOse|0|0|8,379|
|Scope2(electric-locationbased)|tCOze|6,116|7,379|8,379|
|Carbon
intensity|tCOre/m'|0.171|0.150|0,262|
|Total Energy***|kWh|91,680,839|88,950,154|88,869,443|
|Change year-on-year||3 Os«ft|0.1'Ye||
|Scope 1 energy|kWh|65,272,877|59,988,823|59,125,987|
|Scope 2 energy|kWh|26,387,961|28,961,331|29,743,456|
|Energy intensity|kWh/m'|1,242|1,205|1,204|
|Energy from Renewables|kWh|26,387,961|28,$61,331|142,000|
|Energy from Renewables||29%|33%|0.16%|
##
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##
##
||||Unrestricted|Restricted||Endowment||Total|Total|
|---|---|---|---|---|---|---|---|---|---|
||||funds|funds||funds||2021|2020|
||||f000|f000||f000||f000|f000|
|Income from||||||||||
|Donations
and legacies|||129,175|36,527||||165,702|160,730|
|Charitable
activities|||4,307||1|||4,308|1,735|
|Trading activities|||3,454|||||3,454|1,303|
|Investment
income|||489||||789|1,278|150|
|Other income|||175||24|||199|606|
||||137,600|36,552|||789|174,941|164,524|
|Expenditure
on||||||||||
|Raising Funds|||245|||||245|42|
|Charitable
activities||7|162,497|25,179|||79|187,755|189,021|
|Total Expenditure|||162,742|25,179|||79|188,000|189,063|
|Net gains/(losses)
investments|on||1,152|||5,054||6,206|(2,656)|
|Net (expenditure)/income
before transfers|||(23,990)|11,373||5,764||(6,853)|(27,195)|
|Transfers
between|funds|17|(95)||95|||||
|Net movement
in|funds||(24,085)|11,468||5,764||(6,853)|(27,195)|
|Reconciliation
of|funds|||||||||
|Total funds at 1April 20|||546239|8|667|27|344|582,250|609445|
|Total funds at 31|March 21|17|522,154|20,135||33,108||575,397|582,250|
##
||||Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|2020|
||||f000|f000|f000|f000|
|Total Income|||135,375|29,149||164,524|
|Total expenditure
Net (losses)/gain||on investments|(161,466)|(27,597)|~2656|(189,063)
~2656|
|Net expenditure|before transfers||(26,091)|1,552|(2,656)|(27,195)|
|Transfers
between||funds|(85)|85|||
|Net movement|in|funds|(26,176)|1,637|(2,656)|(27,195)|
##
||Notes|Group|Group|Charity|Charity|
|---|---|---|---|---|---|
|||2021|2020|2021|2020|
|||6000|6000|6000|6000|
|Fixed assets||||||
|Intangible
assets|11|73|88|73|88|
|Tangible assets|12|510,260|532,495|510,538|532,795|
|Programme
related investments|13|2 113|800|2.113|800|
|Investments|13|32.535
~T9HI|27,344
5ttf727|32 535
~5(5',~5|27 344
~27|
|Current
assets||||||
|Debtors
Cash and cash equivalents
Liabilities
Creditors
falling due within one year
Net current assets|15
14|(48,704)
31'
40,056
39064
~Am|26,544
30.328
~I72
(35,349)
~23|40,241
25,593
38,237
30,282
78,478~yII75
(47,946)
(34,373)
555532~||
|Net assets||5'75 397|582 250|575 791|582.529|
|Funds||||||
|Called up share capital|16|629,566|629,566|629,566|629,566|
|Share premium|16|12,751|12,751|12,751|12,751|
|Unrestricted
Funds||||||
|General funds|17|(120,163)|(96,078)|(119,769)|(95,799)|
|Restricted Funds||||||
|Endowment
Funds|17|33,108|27,344|33,108|27,344|
|Restricted Funds|17|20,135|8,667|20,135|8,667|
|||575,397|582 258|575 792|582 529|
##
||||Notes|2021|2020|
|---|---|---|---|---|---|
|||||fi000|f000|
|Cash flows generated
by operating
activities|||21|24,369|40,034|
|Cash flows from investing
activities:||||||
|Interest received||||489|150|
|Proceeds from sale ofequipment||||75||
|Investment
additions|||||(30,000)|
|Purchase ofprogramme
related|investments|||(160)|(400)|
|Purchase oftangible fixed assets||||(16,037)|(12,926)|
|Net cash flows used in investing|activities|||(15,633)|(43,176)|
|Cash flows from financing
activities:||||||
|Lease finance repayments|||||482|
|Net cash flows used in financing|activities||||(
)|
|Net increase/
(decrease) in cash|and cash equivalents|||8,736|(3,624)|
|Cash and cash equivalents
at beginning
ofyear
Cash and cash equivalents
at the end ofthe year||||30,328
33,952
~F4~~||
|Reconciliation
to cash at bank and in hand:||||||
|Cash at bank and in hand||||39,064|30,328|
|Cash equivalents||||||
|Cash and cash equivalents||||39.064|30 328|
|Analysis ofchanges in net cash/(debt):||||||
|Net Cash at 1April||||30,328|33,952|
|Net Cash inflow/(oatflow)||||8,736|(3,624)|
|Net Cash at 31March||||39,064|30,328|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||Unrestricted|Restricted|Endowment|2021|
|---|---|---|---|---|---|
|||funds|funds|funds|Total|
|Core funding|from founding|f000|f000|6000|6000|
|shareholders||120,361|||120,361|
|Research grant funding||16|25,046||25,062|
|Other grants||1,880|7,748||9,628|
|Total grant income||122,257|32,794||155,051|
|Donated services and facilities||6,271|||6,271|
|Donations||647|3,733||4,380|
|||129,175|36,527||165,702|
|The tota|l donated
service|s and facilities|off;6,271k repr|esent
gifts in kind|.|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment|2020|
|||funds|funds|funds|Total|
|Core funding|from founding|6000|6000|6000|6000|
|shareholders||124,067|||124,067|
|Research grant funding||29|25,420||25,449|
|Other grants||883|1 718||2601|
|Total grant income||124,979|27,138||152,117|
|Donated services and facilities||6,029|||6,029|
|Donations||584|2 000||2 584|
|||131592|29 138||160730|
##
|.Analysis
of g|ran|t income|by funder ty|pe|||
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Endowment|2021|
||||funds|funds|funds|Total|
||||6000|6000|6000|6000|
|Research Councils|||49,026|9,260||58,286|
|UK-based charities|||67,079|12,105||79,184|
|UK-based higher education
institutions|||4,737|2,061||6,798|
|UK-based government||bodies|1,393|(2)||1,391|
|UK-based industry,
public corporations|commerce and|||1,334||1,336|
|EU government
bodies||||5,746||5,746|
|Other overseas grants|||1|2,196||2,197|
|Other grants|||19|94||113|
||||122257|32,794||155,051|
##
##
|Analysis ofgrant|income by f|under type (c|ontinued)|||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment|2020|
|||funds|funds|funds|Total|
|||f000|f000|f000|f000|
|Research Councils||48,531|4,908||53,439|
|UK-based charities||71,357|10,637||81,994|
|UK-based higher education
institutions||4,959|1,786||6,745|
|UK-based industry,
public corporations|commerce and|18|1,688||1,706|
|EU government
bodies|||6,956||6,956|
|Other overseas grants||51|1,154||1,205|
|Other grants||63|9||72|
|||124,979|27,138||152,117|
##
|||Unrestricted|Restricted||Endowment|2021|
|---|---|---|---|---|---|---|
|||funds|funds||funds|Total|
|||f000|f000||f000|f000|
|Research|conferences|19||||20|
|Staff restaurant||382||||382|
|Building|letting|215||||215|
|COVID|testing|3 691||||3691|
|||4307||1||4308|
|||Unrestricted|Restncted||Endowment|2020|
|||funds|funds||funds|Total|
|||f000|f000||f000|f000|
|Research|conferences|713||||718|
|Staff restaurant||786||||786|
|Building|letting|231||||231|
|||1730||||1735|
##
|Analysis of groMp income fro|m trading activ|ities|||
|---|---|---|---|---|
||Unrestricted|Restricted|Endowment|2021|
||funds|funds|funds|Total|
||f000|f000|f000|f000|
|Premises licence and service charges|3,211|||3,211|
|ITservice contracts|243|||243|
||3,454|||3,454|
||Unrestricted|Restricted|Endowment|2020|
||funds|funds|funds|Total|
||f000|f000|f000|f000|
|Premises licence and service charges|1303|||1303|
||1,303|||1,303|
##
##
||||Direct|Support|2021|
|---|---|---|---|---|---|
||||costs|costs|Total|
||||f000|f000|f000|
|Crick Lab|set-up||1,341|822|2,163|
|Scientific research and translation|||114,556|70,224|184,780|
|Developing|and training|scientists|503|309|812|
||||116,400|71,355|187,755|
||||Direct|Support|2020|
||||costs|costs|Total|
||||f000|f000|f000|
|Crick Lab|set-up||1,048|637|1,685|
|Scientific research and translation|||115,883|70,228|186,111|
|Developing|and training|scientists|762|463|3 223|
||||117,693|71,328|189,021|
##
|||||||Scientific|||
|---|---|---|---|---|---|---|---|---|
|||||||research|Developing||
||||||Crick Lab|and|and training|2021|
||||||set-up|translation|scientists|Total|
||||||f000|f000|f000|f000|
|Governance|||||7|593|3|603|
|Finance|||||35|2,969|13|3,017|
|Information||Technology||gc Services|140|11,973|53|12,166|
|Human|Resources||||50|4,305|19|4,374|
|Building|Services||||562|47,961|210|48,733|
|Communications
Engagement|||and Public||28|2,423|11|2,462|
||||||222|74224|309|71,355|
|||||||Scientific|||
|||||||research|Developing||
||||||Crick Lab|and|and training|2020|
||||||set-up|translation|scientists|Total|
||||||f000|f000|f000|f000|
|Governance|||||5|514|3|522|
|Finance
Information||Technology||gt Services|23
110|2,569
12,121|17
80|2,609
12,311|
|Human|Resources||||42|4,597|30|4,669|
|Building|Services||||427|47,117|311|47,855|
|Communications
Engagement|||and Public||30|3,310|22|3,362|
||||||637|70,228|463|71328|
##
##
|9.Net expenditure
for th||yea|r|||||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
|||||||f000|6000|
|Net expenditure
is stated after charging|||(crediting):|||||
|.Depreciation
ofowned assets||||||38,605|38,617|
|.Amortisation
of intangible
fixed||assets||||15|22|
|.Operating
lease rentals||||||414|595|
|.Foreign exchange
losses/(gains)||||||51|(71)|
|.Profit on disposal offixed assets||||||42||
|Auditor's
remuneration:||||||||
|.Fees for the audit ofthe charity's||annual||financial|statements|71|54|
|.Fees for taxation services to the||group||||11|10|
|.Fees for the audit ofsubsidiary|companies|||||8|8|
##
|||2021|2020|
|---|---|---|---|
|||Total|Total|
|||No.|No.|
|Charitable|activities|1,220|1,219|
|Support activities||217|191|
|||1,437|1,410|
|||2021|2020|
|---|---|---|---|
|||Total|Total|
|||6000|f000|
|Wages and salaries||71,897|66,964|
|Redundancy|and termination|564|943|
|Social security costs||6,787|6,418|
|Pension costs||6508|6075|
|||85,556|80,400|
##
||2021|2020|
|---|---|---|
||Total|Total|
||No.|No.|
|f60,000 - 669,999|62|48|
|570,000 - 679,999|39|41|
|680,000 - f89,999|29|23|
|690,000 - f99,999|16|12|
|6100,000 - 6109,999|14|13|
|6110,000 —8119,999|7|6|
|6120,000 - 6129,999|7|6|
|6130,000 - f139,999|4|3|
|6140,000 - 6149,999|10|8|
|6150,000 - 6159,999|2|1|
|6160,000 - 6169,999|2|1|
|8170,000 - f179,999||2|
|f180,000 - 8189,999||3|
|f190,000 - f199,999|||
|6200,000 - f209,999|||
|f210,000 - F219,999|||
|r220,000 - F229,999|||
|8230,000 - F239,999|||
|f240,000 - 6249,999|||
|6250,000 - 6259,999|||
|6260,001 - 6269,999|||
|6270,000 - 6279,999|||
|6280,000 - 6289,999|||
|8310,000 -8319,999|||
|6410,000 —rA19,999|||
|6420,000 - f429,999|||
||206|177|
##
##
##
|11.Intanftibte
fixed assets||
|---|---|
|Group and charity|Intellectual|
||property|
||6000|
|Cost||
|At I April 2020 and 31March|281|
|2021||
|Accumulated
amortisation||
|At 1April 2020|193|
|Charge for the year|15|
|At 31March 2021|208|
|Net book value||
|At 31March 2021|73|
|At 1April 2020|88|
##
|||IT|||||
|---|---|---|---|---|---|---|
||Fixtures,|equipment|||||
||fittings,|and|Scientific||Assets under|Total|
|Group|furniture
6000|software
f000|equipment
6000|Buildings
6000|Construction
6000|6000|
|Cost|||||||
|At 1April 2020|12,115|20,326|73,246|572,086|6,076|683,849|
|Additions|4,834|1,777|6,749|131|2,921|16,412|
|Transfers|3,261|234|1,463||(4,958)||
|Disposals||||||75|
|At 31March 2021|20,210|22,337|81,383|572,217|4,039|700,186|
|Accumulated|||||||
|Depreciation|||||||
|At 1April 2020|6,618|17,048|47,253|80,435||151,354|
|Charge for the year|3,140|1,566|11,566|22,333||38,605|
|Disposals|||(33)|||(33)|
|At 31March 2021|9,758|18,614|58,786|102,768||189,926|
|Net book value|||||||
|At 31March 2021|10452|3,723|22 597|469449|4039|510260|
|At 1April 2020|5,497|3,278|25,993|491,651|6,076|532,495|
##
|Charity|Fixtures,
fittings,
furniture
6000|IT
equipment
and
software
6000|Scientific
equipment
6000|Buildings
f000|Assets under
Construction
6000|Total
f000|
|---|---|---|---|---|---|---|
|Cost|||||||
|At 1April 2020|12,115|20,326|73,246|572,394|6,076|684,157|
|Additions|4,834|1,777|6,749|131|2,921|16,412|
|Transfers|3,261|234|1,463||(4,958)||
|Disposals|||(75)|||(75)|
|At 31March 2021|20,210|22,337|81,383|572,525|4,039|700,494|
|Accumulated|||||||
|Depreciation|||||||
|At 1 April 2020|6,618|17,048|47,253|80,444||151,363|
|Charge for the year|3,140|1,566|11,566|22,354||38,626|
|Disposals|||33|||33|
|At 31March 2021|9,758|18,614|58,786|102,798||189,956|
|Net book value|||||||
|At 31March 2021|10,452|3,723|22,597|469,727|4,039|510,538|
|At 1April 2020|5,497|3,278|25,993|491,950|6,076|532,794|
##
##
|13.Fixed asset inve|13.Fixed asset inve|stments
(|continued|)||||
|---|---|---|---|---|---|---|---|
|A summary
ofUKCMRI||Construction|Limited's|results|is shown below.|2021
Total|2020
Total|
|||||||f000|f000|
|Profit ()closs account||||||||
|Operating
costs
Operating
loss||||||(5)|(6)|
|Other interest receivable||and similar|income|||||
||||||||W|
|Tax||||||||
|Distribution
payable
(Gift Aid)
Retained
loss for the year
Opening
shareholder's
deficit funds
Closing shareholder's
deficit||||||(5)
~46|(6)
~40
~46|
|Balance sheet||||||||
|Current
assets||||||71|139|
|Current liabilities||||||(122)|(185)|
|Total net liabilities|||||||(46)|
|A summary
ofFrancis Crick Trading|||Limited's|results is shown below.||2021|2020|
|||||||Total|Total|
|||||||f000|f000|
|Profit gc loss account
Turnover||||||6,394|1327|
|Cost of sales||||||(6,458)|(1,262)|
|Gross (loss)/profit
Operating
costs
Operating
(loss)/profit
Tax||||||(64)
(12)
(76)
(76)|65
(13)
52
~(
51|
|Distribution
payable|(Gift Aid)|||||(46)||
|Retained
(loss)/profit|for|the year||||(122)|51|
|Opening
shareholder's|funds|||||60|9|
|Closing shareholder's|funds|||||(62)|60|
|Balance sheet||||||||
|Current
assets||||||6,242|1,354|
|Current
liabilities||||||(6,304)|(1,294)|
|Total net (liabilities)/assets|||||||60|
##
##
||||||2021|2020|
|---|---|---|---|---|---|---|
|||||Holding|Proportion|Proportion|
||||||held %|held %|
|Gammadelta|Therapeutics||Ltd|157,667|229%|239%|
|Achilles Therapeutics||Ltd||36,697|0.09%|0.3%|
|Metacognis|Limited|||470|19.03%|1903%|
|Adaptate
Biotherapeutics|||Ltd|2,282|0.09%|0.2%|
|Mendelian
Ltd||||7,766|0.62%|0.7%|
|Myricx Ltd||||26,750|0.52%|0.45%|
|Okulo Ltd||||16,730|0.99%||
|Pexxi||||922|0.40%||
|My Personal|Therapeutics|||1213|0.85%||
|Quin Technology||||9,132|0.65%||
|Cortirio||||12,894|1.12%||
|Sano Genetics||||7,672|0.43%||
|Pharmenable||||20,000|1.04%||
|Enara Bio||||150,000|Warrants|Warrants|
|value and with no indicators ofimpairment,
at cost.|value and with no indicators ofimpairment,
at cost.|all other shareholdings
are curre|ntly
held|
|---|---|---|---|
|Group gc Charity||2021|2020|
|||Total|Total|
|||f000|6000|
|Convertible|Loans|640|800|
|Quoted investments||482||
|Unquoted|investments|991||
|||2,113|800|
##
##
##
|'
'||||||
|---|---|---|---|---|---|
|c)
v||||||
|Group gc Charity||||2021|2020|
|||||Total|Total|
|Investments
—Endowment:||||f000|f000|
|i) Investments
at market|value|||||
|Conventional
gilts||||833|743|
|Corporate
bonds||||2,547|1,996|
|Overseas fixed interest||||585||
|UK equities||||10,715|8,641|
|Overseas equities||||13,116|8,169|
|prop any
Alternative
assets
Cash||||1,257
2,339
1 143
~au|1,217
1,381
3197
~44|
|ii) Investments
over 5%|of|the portfolio|||2020|
||||||Total|
|Goldman
Sachs Stirling|Liquid Reserves||||f000
~4|
|There were no investments||over 5%of|the portfolio at 31March 2021.|||
|iii) Movements||||2021|2020|
|||||Total|Total|
|||||f000|f000|
|At 1April 2020||||27,344||
|Additions||||6,822|46,215|
|Disposal proceeds||||(6,384)|(16,829)|
|Net movements
in cash|and short-term||deposits|(301)|614|
|Net realised investment|(losses)/gains|||(394)|29|
|Net unrealised
investment||gains/(losses)||5,448|(2,685)|
|At 31March 2021||||32,535|27,344|
##
|||Group|Group|Charity|Charity|
|---|---|---|---|---|---|
|||2021|2020|2021|2020|
|||f000|f000|f000|f000|
|Trade debtors||6,016|2,565|1,986|1,616|
|Prepayments|and accrued income|10,679|9,770|10,148|9,402|
|Amounts
owed by group undertakings
(note 22b)||||5,603|570|
|Amounts
owed by related parties (note
22b)||23,124|13,520|22,267|13,520|
|Other debtors||237|689|237|485|
|||40,056|26,544|40,241|25,593|
##
##
##
##
|15.Cr|editors: amounts
falling du|e within one|year|||
|---|---|---|---|---|---|
|||Group|Group|Charity|Charity|
|||2021|2020|2021|2020|
|||f000|f000|f000|f000|
|Trade creditors||5,335|6,673|5,332|6,254|
|Accruals||9,284|4,028|9,157|3,865|
|Deferred|Income|10,955|9,586|10,002|9,251|
|Other creditors||3,995|3,263|3,924|3,195|
|Amounts
22b)|owed to related parties (note|19,135|11,799|19,135|11,799|
|Amounts
owed to group undertakings
(note 22h)||||396||
|||48,704|35,349|47,946|34,373|
||Group|Charity|
|---|---|---|
||Total|Total|
||f000|f000|
|At 1April 2020|9,586|9,251|
|Recognised as income in year|(3,741)|(3,406)|
|Deferred in year|5,110|4,157|
|At 31March 2021|10955|10002|
##
||||2021|2020|
|---|---|---|---|---|
||||Total|Total|
||||f000|f000|
|Allotted,
Ordinary|called
shares|up and fully paid
offl each|629,566|629,566|
|Share premium||account|12 751|12751|
||||642,317|642,317|
##
##
##
|17.Moveme|nts
in funtfs||||||
|---|---|---|---|---|---|---|
||||||Transfers||
||1April|||Gains On|between|31March|
||2020|Income|Expenditure|Investments|funds|2021|
|Group|f000|f000|f000|f000|f000|f000|
|Unrestricted
funds
General funds|(96078)|1376tltl|~162742|I 152|~95|~120163|
|Restricted funds|||||||
|Crick Lab set-up|339||(97)|||242|
|Research|6,875|32,742|(24,214)||95|15,498|
|Other
Endowment
Funds
Permanent
Funds|1,453
8 667
27344|3,810
(868)
36 552~25 179
7119~79||5 054|95|4,395
20135
33108|
|Share capital —par|629,566|||||629,566|
|Share premium|12751|||||12751|
||642,317|||||642,317|
|Total funds|582,250|174,941|(188,000)|6,206||575,397|
||||||rans ers||
||1April|||Gain On|between|31March|
|Charity|2020
f000|Income
f000|Expenditure
f000|Investments
f000|funds
f000|2021
f000|
|Unrestricted
funds
General funds|(95799)|137731|~16275(l|1152|~95|~119769|
|Restricted funds|||||||
|Crick Lab set-up|339||(97)|||242|
|Research|6,875|32,742|(24,214)||95|15,498|
|Other|1,453
8 667|3,810
36552|(868)
~25 179||95|4 395
20 135|
|Endowment
Funds
Permanent
Funds|27344|789~79||5014||33 108|
|Share capital —par|629,566|||||629,566|
|Share premium|12,751
~642,31|||||12,751
642,317|
|Total funds|582,529|175,072|(188,016)|6,206||575,791|
##
||||||Transfers||
|---|---|---|---|---|---|---|
||I April|||Losses On|between|31March|
|Group|2019
f000|Income
f000|Expenditure
f000|Investments
f000|funds
f000|2020
f000|
|Unrestricted
funds
General funds|~69902|135 375|~161466||~85|~96078|
|Restricted funds|||||||
|Crick Lab set-up|435||(96)|||339|
|Research
Other|5,801
794
7tl3tl|28,426
723
29149|(27,341)
~560
~27597||(11)
96
85|6,875
1453
0667|
|Endowment
Funds
Permanent
Funds|30 000||—~2 656|||27344|
|Share capital —par|629,566|||||629,566|
|Share premium|12,751|||||12,751|
||642,317|||||642,317|
|Total funds|609,445|164,524|(189,063)|(2,656)||582,250|
||||||Transfers||
||1 April|||Losses On|between|31March|
|Charity|2019
f000|Income
f000|Expenditure
f000|Investments
f000|funds
f000|2020
f000|
|Unrestricted
funds|||||||
|General funds|(69,577)|135,291|(161,428)||(85)|(95,799)|
|Restricted funds|||||||
|Crick Lab set-up|435||(96)|||339|
|Research|5,801|28,426|(27,341)||(11)|6,875|
|Other|794|723|(160)||96|1,453|
||7030|29149|~t27597||85|8,667|
|Endowment
Funds
Permanent
Funds|30 tltl0||—~2656|||27344|
|Share capital —par|629,566|||||629,566|
|Share premium|12,751|||||12,751|
||642,317|||||642,317|
|Total funds|609,770|164,440|(189,025)|(2,656)||582,529|
##
##
|||Unrestricted||||
|---|---|---|---|---|---|
|||funds, non-||||
|||charitable||||
|||trading
funds||||
|||and share|Restricted|Endowment|31March 2021|
|Group||capital|funds|funds|f000|
|||f000|f000|f000||
|Intangible
fixed assets||73|||73|
|Tangible|fixed assets|494,287|15,973||510,260|
|Investments
Current
assets
Current
liabilities
Total Net Assets||1,153
57,300
)3D 659)
522 154|960
21,220
(18018)
20 135|32,535
600
~27
33 108|34,648
79,120
~48,704
575 397|
|||Unrestricted||||
|||funds and share||||
|||capital|Restricted|Endowment|31March 2021|
|||f000|funds|funds|f000|
|Charity|||f000|f000||
|Intangible
fixed assets||73|||73|
|Tangible|fixed assets|494,565|15,973||510,538|
|Investments
Current
assets
Current
liabilities||1,153
56,658
~29 9111|960
21,220
~38018|32,535
600
~27|34,648
78,478
~47946|
|Total Net Assets||522548|20135|33108|575 791|
|||Unrestricted||||
|||funds, non-||||
|||charitable||||
|||trading
funds||||
|||and share|Restricted|Endowment|31March 2020|
|Group||capital|funds|funds|f000|
|||f000|f000|f000||
|Intangible
fixed assets||88|||88|
|Tangible|fixed assets|525,166|7,329||532,495|
|Investments
Current
assets
Current
liabilities
Total Net Assets||38,780
~)7795
546239|800
18,092
~)7554
8667|27,344
27344|28,144
56,872
~35349
58225D|
||Unrestricted||||
|---|---|---|---|---|
||funds and share||||
||capital|Restncted|Endowment|31March 2020|
||f000|funds|funds|f000|
|Charity||f000|f000||
|Intangible
fixed assets|88|||88|
|Tangible fixed assets
Investments
Current
assets
Current
liabilities
Total Net Assets|525,466
37,783
~)6819|7,329
800
18,092
~)7554|27,344|532,795
28,144
55,875
~34373|
##
##
|MRCP|S was|31December 2019.|||
|---|---|---|---|---|
||||2019|2016|
||||valuation|valuation|
||||fm|6m|
|Market|value of|assets|1,647|1,406|
|Actuarial|scheme|liabilities|(1,416)|(1,246)|
|Surplus|||231|160|
|Scheme funding||level|116%|113%|
##
##
|The current financial
assumptions
used to calculat|e scheme liabilities are:||
|---|---|---|
||2021|2020|
|Rate ofincrease ofsalaries|3.40|3.00|
|Rate ofincrease ofpension payments|2.40|2.00|
|Discount rate|2.00|2.30|
|lnfiation rate|2.40|2.00|
|Expected return on equities|2.00|2.30|
|Expected return on bonds|2.00|2.30|
|Expected return on overall fund|2.00|2.30|
##
##
|each ofthe following
periods a|re:|||||
|---|---|---|---|---|---|
|||2021||2020||
||an|an|ef|an|t er|
||buildings||fi000|buildings|6000|
|||6000||6000||
|Group and charity||||||
|Within one year||213|49|206|200|
|Between one and five years||814||844|7|
|itlter five years||||161||
|||1 027|49|1211|207|
##
##
##
##
|21.Reconciliation
o
activities|f n|et|(expenditurej
to cas|h generated
by operatin|g|
|---|---|---|---|---|---|
|||||Group|Group|
|||||2021|2020|
|||||f000|$000|
|Net (expenditure)
for the
Depreciation
and disposal|year
adjustments|||(6,853)
38,647|(27,195)
38,619|
|Amortisation
ofintangible|fixed||assets|15|22|
|Funding
received for programme
investments|||related|580|400|
|Interest receivable||||(1,278)|(150)|
|Investments
(gains)/losses||||(6,206)|2,656|
|Interest payable||||1|11|
|||||24,906|14,363|
|(Increase)/Decrease
in debtors||||(13,512)|19,512|
|Increase in creditors||||12975|6 159|
|Cash generated
by operating||activities||24,369|40 034|
##
##
##
##
##
||||||Year ended 31|March 2021||
|---|---|---|---|---|---|---|---|
||||||Income|||
|||||Purchases|and|||
|||||from|recharges|Amounts|Amounts|
|||||related|from and|due from|due to|
|||||parties|to related|related|related|
|||||6000|parties|parties|parties|
||||||6000|6000|6000|
|UKRI (formerly known
Research Council)|||as Medical|1,112|56,695|15,628|(11,668)|
|Cancer Research||UK||361|55,893|1,290|(5,882)|
|Wellcome|Trust|||47|21,947|2,134|(302)|
|University|College London|||(980)|2,826|2,505|(471)|
|Imperial
College London
King's College London||||(1,013)
~825
~1298|1,707
1 912
140980|556
1 011
23 124|(327)
~485
~19135|
||||||Year ended 31|March 2020||
||||||Income|||
|||||Purchases|and|||
|||||from|recharges|Amounts|Amounts|
|||||related|from and|due from|due to|
|||||parties|to related|related|related|
|||||$000|parties|parties|parties|
||||||6000|6000|6000|
|UKRI (formerly
known
Research Council)|||as Medical|(1,412)|53,617|4,041|(4,430)|
|Cancer Research||UK||462|57,180|913|(7,164)|
|Wellcome|Trust|||(81)|23,322|3,402|(63)|
|University|College London|||(1,496)|2,394|1,914|(95)|
|Imperial
College London
King's College London||||(854)
~8tl6)|2,072
2,054|1,227
2 023|(10)
(14)|
|||||(4,187)|140,639|13,520|(11,776)|
||||Income|||
|---|---|---|---|---|---|
|||Purchases|and|||
|||from|recharges|Amounts|Amounts|
|||related|from and|due from|due to|
|||parties|to related|related|related|
|||6000|parties|parties|parties|
||||6000|6000|6000|
|Francis Crick Trading|Limited||6,473|5,603|(328)|
|UKCMRI Construction|Limited|(17|6||~68|
|||(17)|6,479|5,603|(396)|
##
##
|22.Related party t|ransactions
(|continued)||||
|---|---|---|---|---|---|
||||Year ended 31|March 2020||
||||Income|||
|||Purchases|and|||
|||from|recharges|Amounts|Amounts|
|||related|from and|due from|due to|
|||parties|to related|related|related|
|||6000|parties|parties|parties|
||||6000|6000|6000|
|Francis Crick Trading|Limited||1,267|921|(9)|
|UKCMRI Construction|Limited|||58||
||||1,267|979|(9)|
##
|c.Don ted services and facilities|||
|---|---|---|
||2021|2020|
||Total|Total|
||6000|6000|
|Services|4,746|4,505|
|Land|1,525|1,525|
||6,271|6,030|
##
##
##
##
##