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← Bone Cancer Research Trust

2024-12-31-accounts

REGISTERED CHARITY NUMBER: 1159590

REPORT OF THE TRUSTEES AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

BONE CANCER RESEARCH TRUST

Thomas Coombs Limited Statutory Auditor Chartered Accountants 3365 The Pentagon Century Way Thorpe Park Leeds West Yorkshire LS15 8ZB

BONE CANCER RESEARCH TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Page
Reference and Administrative Details 1 to 3
Report of the Trustees 4 to 20
Report of the Independent Auditors 21 to 23
Statement of Financial Activities 24
Statement of Financial Position 25
Statement of Cash Flows 26
Notes to the Statement of Cash Flows 27
Notes to the Financial Statements 28 to 49

BONE CANCER RESEARCH TRUST

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024

Chair’s Introduction

It is my privilege to introduce the Annual Report and Financial Statements of the Bone Cancer Research Trust for the year ended 31 December 2024.

This has been a year of both challenge and progress. Primary bone cancer remains one of the most difficult cancers to diagnose and treat, and yet thanks to the determination of our supporters, staff, researchers, and trustees, we continue to make significant strides towards our vision of a world where this disease is cured.

In 2024, we awarded over £800k and committed a further £1.3 million into new research, including vital new projects targeting osteosarcoma, chondrosarcoma and Ewing sarcoma. Through our Patient and Public Involvement Panel, lived experience continues to shape and strengthen the research we fund, ensuring it delivers real impact for patients.

Our Support and Information Service reached more patients and families than ever before, with demand for financial assistance grants doubling in comparison to 2023. We hosted our flagship Bone Cancer Conference alongside smaller regional gatherings, helping to reduce isolation and provide meaningful peer support across the UK.

Awareness has been a defining feature of 2024. Our first ever bone cancer awareness ribbon was launched during Bone Cancer Awareness Week, reaching an audience of millions across the world. We also relaunched the National Sarcoma Awareness Project, supporting medical students and doctors to better recognise the disease and improve diagnosis.

Financially, we achieved income of £4.2 million, a significant increase from 2023, thanks to the remarkable generosity of our supporters, partners, the success of events such as the London Marathon, and the trust placed in us by charitable foundations. This enabled us to continue to plan with confidence for the future.

As Chair, I would like to thank my fellow trustees for their expertise and commitment, and acknowledge the extraordinary contribution made by my predecessor, Professor Alison Gartland, who has led the Board with dedication and distinction. I am delighted that Alison will remain on the Board as a Trustee, ensuring we continue to benefit from her expertise and insight. I am equally pleased to welcome Dr. Liz O’Riordan as our first charity Patron, bringing her personal and professional experience, and public profile to further strengthen our work.

I would also like to thank the Bone Cancer Research Trust staff team for their unwavering commitment, and our volunteers and supporters for standing with us.

Looking ahead, 2025 will see us continue to deliver our 10-year strategy More Patients Surviving, More Patients Thriving. With new research calls, enhanced support services, and increased policy and awareness work, we remain determined to make faster progress for everyone affected by primary bone cancer.

On behalf of the Board of Trustees, thank you for your continued support. We could not achieve what we do without you.

David Elston, Chair of Trustees

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BONE CANCER RESEARCH TRUST

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024

Trustees:

Professor Alison Gartland (Chair) Elizabeth Eatock (Deputy Chair) (until 23/10/2024) Andrew Booth Dr Anthea Martin Arlene Eves (until 27/04/2024) Professor Bernadette Brennan Charlene Young Damian Harper (until 25/10/2024) Dr Darrell Green David Elston Francesca Robinson Gillian Johnston Mr Jonathan Stevenson Margaret Moore OBE Mike Ashton

Independent Scientific Advisory Panel:

Chair: Professor Pam Kearns MBChB, BSC (Hons), PhD, FRCPCH, Professor of Clinical Paediatric Oncology and Honorary Consultant in Paediatric Oncology, University of Birmingham

Member: Piers Gaunt BSc MSc, Senior Biostatistician, University of Birmingham

Member: Dr Paulo Ribeiro BSc MSc PhD, Senior Lecturer and Group Leader, Bart's Cancer Institute

Member: Professor Thomas Grunewald PhD MD, Division Head, Translational Paediatric Sarcoma Research, German Cancer Research Center, Heidelberg, Germany

Member: Dr Nathalie Gaspar MD PhD, Paediatric Oncologist, Department of Oncology for Child and Adolescent, Gustave Roussy Cancer Campus, France

Member: Dr Didier Surdez PharmD PhD, Head of Tumour Research at the Balgrist University Hospital, University of Zurich, Switzerland

Member: Dr Olivia Rossanese FRSB PhD, Director of the Centre for Cancer Drug Discovery and Head of the Division of Cancer Therapeutics at The Institute of Cancer Research

Member: Apostolos Tsiachistas, Research Fellow at Green Templeton College and an Associate Professor in Health Economics at the University of Oxford. He also brings lived experience to the panel.

Member: Dr Phil Green, GP Associate at Leicester, Leicestershire & Rutland Training Hub and Bone Cancer Research Trust Patient Advocate.

Principal Address

Unit 10, Feast Field, Horsforth, Leeds, LS18 4TJ

Senior Leadership Team William Burchell - CEO Dr Zoe Davison - Director of Research, Information, Support & Awareness (until 30[th] September 2024) Dr Zoe Davison - Director of Research & Information and Deputy CEO (from 1[st] October 2024) Andrew Westwood - Director of Finance & Resources Laura Riach - Head of Fundraising & Communications (until 21[st] August 2024)

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BONE CANCER RESEARCH TRUST

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024

Independent Auditors Thomas Coombs Limited Statutory Auditor, Chartered Accountants 3365 The Pentagon, Century Way, Thorpe Park, Leeds, West Yorkshire, LS15 8ZB

Bankers CAF Bank Ltd

25 Kings Hill Avenue, Kings Hill, West Malling, ME19 4JQ

Lloyds Bank 65-68 Briggate, Leeds, West Yorkshire, LS1 6LH

Solicitors Shakespeare Martineau No 1 Colmore Square, Birmingham, B4 6AA

HR Consultants The HR Dept Ltd First Floor, 3 Brook Office Park, Emersons Green, Bristol, BS16 7FL

Investment Managers RBC Brewin Dolphin 10 Wellington Place, Leeds, LS1 4LX

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BONE CANCER RESEARCH TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees present their report with the financial statements of the Charity for the year ended 31st December 2024. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Bone Cancer Research Trust is the leading charity dedicated to fighting primary bone cancer and are uniquely placed to make a difference through our 3 pillars of:

Vision

A world where primary bone cancer is cured.

Mission

To save lives and improve outcomes for people affected by primary bone cancer through research, information, awareness and support.

Our Objects

The objectives of the Charity, stated in its deeds of trust, are as follows:

Promoting research into the causes and treatment of primary bone cancer in young people and in particular of osteosarcoma and Ewing sarcoma and publishing the useful results thereof.

Provide support and information services for persons suffering from Primary Bone Cancer, and their families.

The Trustees have complied with the duty set out in Section 4 of the Charities Act 2011 and have paid due regard to public benefit guidance published by the Charity Commission.

The Problem

Primary bone cancer is a rare cancer, affecting only 560 patients per year in the UK. Unfortunately, due to the rarity of the disease, it is not a priority for many medical research funders and for pharmaceutical companies and it is difficult to attract young academics and clinicians to the specialty. Awareness of the signs and symptoms amongst both the public and healthcare professionals and understanding of the correct referral pathways amongst healthcare professionals are low. This means that:

We are determined to change the status quo, and we will do this by:

Goals

Our ambitious 10-year strategy: ‘More Patients Surviving. More Patients Thriving’ sets out 3 goals

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REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2024

Grant making

We recognise that our ability to fund research is limited by our physical and financial resources. We aim to maximise the impact of our grants by encouraging research that contributes to ongoing initiatives, and which is likely to win support from larger funding bodies in due course.

We believe that there is great value in collaborative research. Finding a cure depends on the cooperation of many experts, some of whom may not have worked in primary bone cancer research to date. Therefore we place special emphasis on the importance of:

As an active member of the Association of Medical Research Charities (AMRC), Bone Cancer Research Trust has an established grant making policy, which adheres to the recommendations set out by AMRC and National Institute for Health Research (NIHR) and is reviewed periodically.

Applications are invited through open and transparent funding calls, which then undergo a thorough review process including both review by our Independent Scientific Advisory Panel (ISAP) and our Patient and Public Involvement Panel (PPIP) to ensure the projects are in line with patient priorities. Applications also undergo external expert reviews where necessary.

ISAP collate all reviews and make funding recommendations to Bone Cancer Research Trust’s Board of Trustees, based on scientific merit and likelihood of success. Bone Cancer Research Trust’s Board of Trustees approve the grants to be awarded.

Bone Cancer Research Trust’s ISAP consists of research professionals who are from respected academic institutions throughout the UK and Europe and persons with lived experience of primary bone cancer.

The role of ISAP is to:

BCRT works with the primary bone cancer community and ISAP and PPIP to develop our strategy to respond to areas of unmet or urgent need. BCRT works collaboratively with researchers and places emphasis on the ongoing monitoring of the impact of the research that we fund.

Support, Information and Awareness

Alongside its research activities, the Charity aims to:

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REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2024

In order to fulfill our Support, Information & Awareness objectives in 2024 BCRT carried out the following activities:

Volunteers

The trustees are very appreciative of the work carried out by numerous volunteers throughout the UK and overseas and thank them for their tireless work in organising fundraising activities. There are also many volunteers that have played a role in other BCRT activities such as office administration, supporting challenges and events, conferences and Bone Cancer Awareness Week. In accordance with accepted practice, no value has been included in the financial statements to reflect the work undertaken by volunteers.

Fundraising Practice

We aim to inspire our supporters to donate by sharing our patient stories, so they know and understand the impact our organisation can make in people’s lives. In all our activities we aim to ensure that our supporters and the wider public are treated fairly and with respect. We inform people how to opt out of our communications, should they wish to do so. We continually monitor and review our practices to ensure we are adhering to the latest in fundraising regulations and practices. The Bone Cancer Research Trust is registered with the Fundraising Regulator and is committed to following its Code of Fundraising Practice.

All staff are aware of and adhere to Charity Commission guidelines and The Code of Fundraising Practice which sets out statutory obligations and best practice standards. We do not employ third party fundraising organisations to work on our behalf or use methods of fundraising that can be seen as intrusive or persistent. We are also very conscientious about self-regulation of our fundraising activities and protecting vulnerable people. We are especially careful and sensitive when engaging with those affected by cancer. We don’t sell or lend our database of supporters to other charities or organisations. The Bone Cancer Research Trust continues to be a member of the Fundraising Regulator. During 2024 we received no complaints relating to any of our fundraising activities.

ACHIEVEMENTS & PERFORMANCE

Research

Our 2022-2032 strategy sets out an ambition to commit £10 million towards our Research Grant Programme. Within this Programme, we committed to funding the following grants in 2024:

Due to the unwavering support of our fundraisers, we were delighted to fund an additional collaborative project with Sarcoma UK. Our Chondrosarcoma restricted call was relaunched in 2024 and therefore the award of this project was delayed from 2024 to 2025. At the end of 2024, we had committed £4,051,567 to our Research Grant Programme, amounting to 40% of the £10,000,000 set out in our strategy. The full details of our research funding awards are set out below.

Grants awarded through our open funding calls

Our collaborative funding call with Hannah’s Willberry Wonder Pony Charity, which opened in 2023, concluded in the awarding of £250,000 in 2024 to support Dr Jun Ishihara, working on developing a new treatment for osteosarcoma.

We also funded 2 exciting Idea grants, one focusing on very rare subtypes of primary bone cancer and the other focusing on the holistic needs of patients requiring surgery for spinal sarcoma in the hopes that this type of intervention may lead to a better quality of life for patients. Both projects met key strategic priorities for the charity.

We also provided continuation funding to support 2 key research consortia and to support patient sample collection.

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The following Idea grants were funded:

1. Full spectrum of primary bone tumours of the spine including benign and malignant spinal sarcoma Dr Victoria Williamson

£21,040

Spine sarcoma can be a complex and challenging condition to treat that can require intensive treatment. Ensuring appropriate psychological support is available for patients is likely to be central to promoting wellbeing and quality of life. However, how patients with spine sarcoma experience their diagnosis, treatment and recovery is not well understood. It is also unclear what impact spine sarcoma can have on patient’s daily functioning and what support they would find most beneficial.

This project will investigate experiences of diagnosis and treatment, perceptions of the impact of the illness on daily functioning and explore views of treatment and (need for) support in the hopes to being able to implement psychological interventions & targeted support.

2. Targeting Polycomb Assembly: A Novel Therapeutic Strategy for Bone Sarcoma Treatment Dr Nezah Benabdallah

£ 34,969.32

This research aims to develop new treatments for rare primary bone cancers affecting children and young adults. Undifferentiated Small Round Cell Sarcomas (USRCS) or Ewing-like sarcomas are complex cancers driven by specific mutations. In these cancers, two molecules are fused together, acting as cancer-driving entities that transform normal cells into cancerous ones and maintain their growth. Therefore, these cancer-driving molecules make ideal therapeutic targets.

This work will explore two distinct strategies to target these molecules, which it hoped will accelerate the identification of promising pre-clinical candidates, paving the way for targeted therapies to improve the prognosis for those affected by Ewing-like sarcomas.

The following Project Grants were funded:

1. Overcoming osteosarcoma immunotherapy resistance by tumourlocalised IL-12 driven anti-tumour immunity Dr Jun Ishihara

£250,000

A protein named interleukin-12 (IL12) is known to successfully activate the body’s immune cells to attack cancer cells in several cancer types, however, IL-12 also causes severe toxicity to normal cells and organs in the body.

This project aims to modify IL12 by adding a tumour targeting domain fragment which will ensure that IL12 accumulates in the osteosarcoma tumour and not in other organs such as the liver and kidneys. This offers an opportunity to utilise IL12 as a treatment for osteosarcoma without causing toxicity to the rest of the body.

The research also aims to determine if a combination of the modified IL12 with doxorubicin, (part of the current MAP chemotherapy regime) can offer additional benefit.

This project was funded in collaboration with Hannah’s Willberry Wonder Pony Charity.

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

Grants awarded through our Meeting Support Scheme

We offer a rolling funding scheme to support primary bone cancer researchers to organise meetings that will drive progress and facilitate collaboration. In 2024 we supported the following:

1. The Bone Research Society Annual Meeting

Professor Alison Gartland

Bone Cancer Research Trust contributed £10,000 towards the annual Bone Research Society Meeting that took place in Sheffield. This meeting is unique in that it brings together many different academics with interests in all aspects of bone biology research including cancer.

2. The FOSTER Consortium Annual Meeting

Dr Nathalie Gaspar

The Bone Cancer Research Trust awarded £9,155.52 to support the annual meeting of the FOSTER consortium, which took place in Paris at the Istitut Curie. This meeting brings together academic and clinical researchers focused on osteosarcoma. This pivotal meeting has developed an international osteosarcoma clinical trial.

Grants awarded through our Skills Development Grant Scheme

One of our strategic aims is to ensure the field of primary bone cancer is attractive to young academics and clinicians and to bridge skills gaps in the work force. To meet this aim, we offer small, personal awards to allow early career researchers to attend and present at international meetings, undertake short placements to learn valuable new skills and to attend external learning courses to support career progression. In 2024 we supported the following:

==> picture [467 x 327] intentionally omitted <==

----- Start of picture text -----
Name Loca�on Value of Type of SGG Title
Grant
Davey Scotland £3,000.00 Conference attendance Travel grant to attend the British Sarcoma
(Edinburgh) Group meeting
Potkins North £233.00 Conference attendance Attendance at the British Sarcoma Group
conference in Leeds
James North £233.00 Conference attendance Attendance at the British Sarcoma Group
conference in Leeds
Green London & South £740.00 Conference attendance Attendance at the EuSARC meeting in Nantes
Bull London & South £640.00 Conference attendance Attendance at the EuSARC meeting in Nantes
Souza Midlands £750.00 Conference attendance Attendance at the EuSARC meeting in Nantes
Farrow London & South £750.00 Conference attendance Attendance at the EuSARC meeting in Nantes
Pankova London & South £610.00 Conference attendance Attendance at the EuSARC meeting in Nantes
Ta�ersall North £750.00 Conference attendance A�endance at the EuSARC mee�ng in Nantes
Shah North £742.00 Conference attendance A�endance at the EuSARC mee�ng in Nantes
Pabla Midlands £212.00 Conference attendance A�endance at the Bri�sh Sarcoma Group
conference in Leeds
Feng Midlands £750.00 Conference attendance European Biological Inorganic Chemistry
conference (EuroBIC-17) in Germany
Pryke London & South £750.00 Conference attendance A�endance at the EuSARC mee�ng in Nantes
Manavalan London & South £750.00 Conference attendance A�endance at the EuSARC mee�ng in Nantes
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==> picture [467 x 617] intentionally omitted <==

----- Start of picture text -----
Frampton North £473.03 Conference attendance A�endance at the ERK5 signalling conference
in Florence
Baugh North £649.97 Conference attendance A�endance at the EuSARC mee�ng in Nantes
Ibáñez Spain (Madrid) £500.00 Conference attendance A�endance at the Euro Ewing Consor�um
Navarro annual mee�ng in London
Sco� North £123.19 Conference attendance A�endance at the Euro Ewing Consor�um
annual mee�ng in London
Co�one London & South £740.00 Conference attendance A�endance at the EuSARC mee�ng in Nantes
Dack London & South £300.00 Conference attendance A�endance at the Bone Research Society
conference in Sheffield
Richardson North £332.24 Conference attendance A�endance at the Euro Ewing Consor�um
annual mee�ng in London
Doro London & South £300.00 Conference a�endance A�endance at the Bone Research Society
conference in Sheffield
Tirtei Italy £500.00 Conference a�endance A�endance at the FOSTER consor�um annual
mee�ng in Paris
Foong USA (NY) £750.00 Conference a�endance A�endance at the BCRT and Chordoma
Founda�on joint symposium in London
Fe�ah Turkey £750.00 Conference a�endance A�endance at the BCRT and Chordoma
(Istanbul) Founda�on joint symposium in London
Patel London & South £741.20 Conference a�endance A�endance at the EuSARC mee�ng in Nantes
Eder Austria £462.00 Conference a�endance A�endance at the FOSTER consor�um annual
mee�ng in Paris
Hubsch France £500.00 Conference a�endance A�endance at the FOSTER consor�um annual
mee�ng in Paris
Ullman Germany £500.00 Conference a�endance A�endance at the BCRT and Chordoma
(Magdeburg) Founda�on joint symposium in London
van Oost Netherlands £500.00 Conference a�endance A�endance at the BCRT and Chordoma
(Leiden) Founda�on joint symposium in London
Usher North £109.00 Conference a�endance A�endance at the BCRT and Chordoma
Founda�on joint symposium in London
Xiong China £750.00 Conference a�endance A�endance at the BCRT and Chordoma
Founda�on joint symposium in London
Erdem Netherlands £500.00 Conference a�endance A�endance at the BCRT and Chordoma
Founda�on joint symposium in London
Pryke London & South £3000.00 Placement Placement in the laboratory of Dominique
Heymann in Nantes to learn about pre-
clinical models of osteosarcoma
Chen London & South £3000.00 Placement Placement at Shanghai Jiao Tong University
(SJTU) Affiliated Sixth People’s Hospital to
undertake work on Ewing sarcoma.
Stanislovas London & South £354.00 Course a�endance A�endance at the Bone Research Society
course on bone biology
Benabdallah Scotland £1000.00 Conference a�endance A�endance at the Connec�ve Tissue Society
conference in the USA
Druppal California £1000.00 Conference a�endance A�endance at the Bone Cancer Conference
in Leeds.
----- End of picture text -----

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

Continuation of funding

Funding was continued for year 2 of the following consortia.

1. Surgical consortium- Optimisation of fluorescence technology for bone sarcoma image guided surgery and photodynamic therapy (Year 2)

Mr Kenneth Rankin

£ 79,972

Surgeons and specialists recognise the need to improve surgical techniques to enhance survival rates and reduce side effects. Of particular concern is the current inability to accurately assess how much healthy tissue to remove around a tumour to reduce the risk of it coming back. Collaboration among research teams will be crucial to efficiently address bone cancer surgery difficulties like this and introduce new technologies into the surgical setting.

In response to this challenge, a surgical research consortium, led by Dr Kenneth Rankin at Newcastle University is bringing together experts worldwide. The consortium will focus on advancing fluorescence guided surgery, a technique to improve the precision of tumour removal during surgery using specialist dyes and cameras, reducing side-effects and the risk of recurrence.

Improving outcomes for patients will not only enhance their quality of life and mental wellbeing but also benefits wider society by supporting them to return to work or education, reducing strain on the healthcare system and decreasing dependency on benefits.

2. The Euro Ewing Consortium (EEC) (Year 2)

Professor Sandra Strauss

£67,646.72

Ewing sarcoma is a rare cancer, with only 90 patients diagnosed in England per year. Treatment for this primary bone cancer remains a cocktail of chemotherapy, surgery and radiotherapy, and, unfortunately, there has been no significant improvement is survival rates for 25 years.

The EEC has previously been funded through an EU grant and, as a result, has been pivotal to initiating 2 international trials: Euro Ewing 2012 and rEECur and establishing the standard of care chemotherapy backbone, which is now standard across Europe and America

Further progress can only be made through international collaborations, and this is not feasible without funding to support the consortium infrastructure and a willingness for researchers and patients to work together.

The current funding will be central to this group developing new trials and ensuring new, targeted treatments reach Ewing sarcoma patients.

We also continued our partnership with Sarcoma UK to support a data partnership project between the two charities, UCLH and NHS England. We contributed £ 56,135.27 towards this project, which was awarded by Sarcoma UK.

We launched our infrastructure grants in 2017 to facilitate the collection of patient samples and ensure they are available for use in research projects. In 2024, we provided:

We also awarded continued funding of £105,386 to Professor Martin Pule for the continuation of a PhD studentship exploring the potential of CAR-T cell therapy for osteosarcoma.

Other Research Highlights

In response to the growing costs of research, in 2024, we increased the value of our Idea grants from £25,000 to £35,000 and opened an unrestricted funding call, with a particular interest in receiving applications focused on rare subtypes of primary bone cancer.

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Since 2020, we have supported an annual research symposium focused on Ewing sarcoma biology. The aim of this meeting was to promote collaboration and awareness of funding opportunities, increasing both the volume and quality of applications received focussing on this type of primary bone cancer. In 2024, we opened a collaborative funding call with CCLG: The Children and Young People's Cancer Association to support restricted to Ewing sarcoma, which received significant interest from the research community. Later in 2024, we extended this collaboration to include Great Ormond Street Hospital Charity and Ewing Sarcoma Research Trust due to the significant interest received and excellent quality of applications.

Patient Involvement

In 2021, we set out to establish a diverse and representative panel, encompassing lived experiences from right across the primary bone cancer community to provide insight and guidance on the research we fund. Since then, the Patient & Public Involvement Panel (PPIP) has steadily grown, including current and former patients, as well as parents, other family members and friends, and now has 57 members. Their lived experiences span a breadth of primary bone cancers and tumours, from the most common to some of the rarest.

During 2024, members of our PPIP have been involved in a number of key activities, making important contributions to the development and review of research funding applications submitted to Bone Cancer Research Trust and to other funding bodies, as well as helping to review & improve patient care.

Examples of their contributions in 2024 include:

Improving Diagnosis Meeting

Improving the diagnostic journey and experience for patients is a key priority, with our community keen for us to address this issue both through our awareness activities and through research. In January 2024 and in collaboration with Sarcoma UK, we hosted a workshop focused on improving diagnosis. This workshop was facilitated by Dr David Crosby, Head of Prevention & Early Detection Research, Cancer Research UK and identified priority areas for research to improve diagnosis for sarcoma patients. The workshop was followed by a collaborative funding call, with £500,000 committed overall by both charities, the most significant investment into improving the diagnosis of sarcoma through research to date.

Birmingham Orthopaedic Oncology Meeting

We supported the first BOOM meeting in 2024, which was a 2-day meeting in Birmingham. The focus on day 1 was to reach international consensus on a number of procedures and clinical practices in the treatment of chondrosarcoma and the focus of day 2 was focused on reaching international consensus on how to manage Periprosthetic Joint Infection (PJI) in orthopaedic oncology. As a result of this meeting, the team published 3 scientific papers and international consensus statements on Chondrosarcoma (published) and Infection (accepted awaiting publication) which will influence world practice, reduce inequalities in care and hopefully improve outcomes for patients across the globe.

Chordoma Symposium

One of our strategic aims is to stimulate research is all types of bone sarcoma, irrespective of rarity. Since the launch of Bone Cancer Research Trust in 2006, very little funding has been awarded to research focused on chordoma, despite it being the 4th most common sub-type. To improve this, we worked with Chordoma Foundation, a research funding organisation in the USA, to support an international symposium. Given the rarity of the disease, the number of researchers focusing on this type of cancer in small, therefore collaboration and communication amongst this group is key to make the biggest impact and progress. The meeting brought together around 50 delegates from around the world to give updates on their work and provided an excellent forum to form collaborations and connections.

Data partnership meeting

Over the last 2 years we have worked with Sarcoma UK to fund a data partnership between both charities, UCLH and NHS England, to use routinely collected data to improve care for sarcoma patients. The funding has been short-term to date, yet has delivered impactful academic publications, supported improved health information provisions for patients and provided evidence to drive improvements in care. Access to data on incidence, survival, times and routes to diagnosis and geographical variations in care are critical to understanding the current picture of sarcoma care in England and to inform improvements. As a strategic priority for both Bone Cancer Research Trust and Sarcoma UK, both charities were keen to continue this partnership and provide longer-term funding. A workshop bringing many of the sarcoma clinical community together was held in mid-2024 to determine the most impactful way to use data to improve care for patients and a funding scheme was launched following the meeting.

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EuSARC & STRIKE meeting

Following funding the inaugural EuSARC meeting in Sheffield in 2017, and the 5th in-person meeting in Vienna, we again provided funding to support early career researchers to attend the 2024 meeting, which took place in Le Pouliguen, France. The meeting provides an excellent opportunity for post-doctoral researchers and PhD students to share their research and gain valuable insight and advice from experienced researchers and helps to keep the brightest minds in the primary bone cancer field. By supporting the meeting, it raises awareness of Bone Cancer Research Trust amongst the wider European research community, which has led to increased applications to our research funding calls.

While in France for the EuSARC meeting, we met with several PhD students at their STRIKE consortium meeting, to deliver a workshop on the importance of patient involvement and engagement in research. For many, this was the first insight into the impact of a primary bone cancer diagnosis and some of the issues our patients face, including delays with diagnosis, toxicity of treatment and the lack of clinical trials. The students explored the potential benefit of their research to the patients that have the disease and why this should always be central to any applications for funding.

Support & Information

Our Support & Information Service launched in 2019 in response to feedback from our community describing a need for a specialised service. In 2024, we saw an increase in demand for our financial grants, highlighting the growing financial pressures of a primary bone cancer diagnosis and the increasing reach of our service. In 2024, we provided grants totalling over £46,000 to newly diagnosed patients and to patients that were required to travel to access clinical trials and specialist radiation therapy, an increase of over 100% on grants awarded in 2023.

In January we partnered with the Royal Orthopaedic Hospital to support a bone sarcoma education day. The day provided an opportunity for healthcare professionals that were new to the sarcoma field to learn more about the disease through presentations and workshops covering an overview of the types of bone sarcoma, treatments available for patients and the role of Bone Cancer Research Trust in supporting these patients.

Providing access to peer support is one of the key objectives of our Support Service and crucial to ensure those affected by primary bone cancer do not feel isolated and lonely. While our flagship Bone Cancer Conference offers a unique opportunity for patients to come together to share their experiences and to hear about advancements in research, we were keen to provide more intimate inperson Get Togethers across the UK to make accessing peer support easier. In 2024, we held our annual conference in Leeds, which brought together 200 attendees and held smaller Get Togethers in Nottingham, Glasgow, Bristol and Leeds, which allowed around 90 patients and their families to connect in a more relaxed an informal setting.

Our 2022 – 2032 Strategy places an important focus on life after a primary bone cancer diagnosis, whether this is through developing kinder and less toxic treatments to allow a better quality of life for those that survive the disease or by providing support to patients after their treatment has concluded. In October we held our first virtual support group dedicated to long-term survivors of primary bone cancer. This forum provided a safe and protected space for 10 attendees to talk openly about their experiences with other longterm survivors and to help shape dedicated support for long-term survivors going forward.

During the final months of 2024, we commissioned an independent review of our Support & Information Service, working with Good Innovation to understand the following:

  1. Does the Support & Information Service address the biggest needs of patients and their caregivers without duplicating other existing services?

  2. Can our Support & Information Service be expanded while ensuring we have the right investment and team structure in place? 3. How can we gather data to continuously improve, measure and demonstrate the impact of our Service?

The review incorporated the views of the primary bone cancer community through a survey, workshops and 1-to-1 consultations and will conclude its initial phase in early 2025. The feedback from this phase will inform the development of our Service.

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

Awareness

2024 saw the relaunch of the National Sarcoma Awareness Project. The initiative aims to provide additional learning for medical students, postgraduate doctors and senior house officers in sarcoma. With limited focus in the medical curriculum, this supplementary programme is essential to equip all new doctors with the knowledge and skills to spot the signs of sarcoma and remains a priority partnership project for Bone Cancer Research Trust and Sarcoma UK. The relaunch also included a new clinical advisory panel, comprising Professor Tom Cosker, Mr Ather Siddiq, Ms Heledd Harvard, Mr David Boddie and Dr Corey Chan, and with administrative support from BCRT. A huge thank you to Mr Coonoor Chandrasekar, consultant in orthopaedics at the Liverpool Sarcoma Service for his dedication to this project over the last 10 years. In 2024, we received 211 responses, a 44% increase on 2023 and have built relationships with several Universities and Trusts, who were not aware of the project. We offered 11 fellowships and selected these both according to top scores and also an interest in either sarcoma, oncology or surgery. Of those offered a fellowship, 9 students or postgraduate doctors went on the complete their fellowship, gaining invaluable experience of sarcoma multidisciplinary care and meeting patients with the disease. Two were also selected to present their fellowship experience at the 2025 British Sarcoma Group Conference.

We hosted 5 students from The University of Sheffield Medical school across their Research Attachment and Social Accountability placements. The students began to explore the impact associated with the introduction of e-consultations on time to diagnosis and the diagnostic experience for patients.

In July, we welcomed Silvia Kraft to the team as our Policy and Awareness Officer, confirming our commitment to increasing our focus in this area.

Throughout 2024, we have contributed to written consultations and in-person workshops to ensure the primary bone cancer patient community's priorities are addressed and included in Government policy. This includes individual organisational responses to:

In collaboration with other third sector stakeholders such as Cancer52 and an informal cost-of-living working group, we have also contributed more widely with input into workshops with the Department of Health/NHS England, the Department of Work and Pensions' Pathways to Work Green Paper, and a TYA specification for the National Cancer Plan.

In 2024, we ran 4 day-long campaigns, two month-long campaigns, one year-long campaign and our flagship campaign — Bone Cancer Awareness Week. Our public awareness calendar increases knowledge and understanding of primary bone cancer, ultimately saving lives.

Our Rare Disease Day campaign reached over 636,000 people around the world to raise life-changing awareness of primary bone cancer. Through PR activities, we collaborated with Specsavers on our patient story press release, which was placed in 7 publications worldwide and later led to an appearance on BBC London (TV), BBC Breakfast (TV), and BBC London Radio, amongst others.

Additionally, we were quoted for our primary bone cancer statistics in a BBC News article around Rare Disease Day, bringing us one step closer towards our 2022-32 strategic objective of becoming the authoritative voice for primary bone cancer statistics and information.

In Bone Cancer Awareness Week (7th – 13th October 2024), we empowered our community to help launch our first ever-awareness ribbon and ask the all-important question: Ever Heard of Bone Cancer? Through the campaign, we mobilised our supporters to reach new audiences and raise more awareness than ever before:

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

Our community came together to launch our first-ever Awareness Ribbon, with 301 supporters purchasing 726 ribbons. To help guide our future awareness efforts, 216 people completed our Awareness Survey, sharing valuable feedback and ideas. We were proud to share Jessica’s Story, our powerful short film raising awareness of bone cancer. We’re delighted that it was nominated for a Smiley Charity Film Award.

In 2024, we sponsored Close to the Bone, a unique project that documents each aspect of a patient's journey in a new collaboration between patients, photographer Caroline Seymour and consultant orthopaedic oncology surgeon Professor Tom Cosker. The exhibition demonstrated the stark reality of a primary bone cancer diagnosis, and the gruelling treatments patients endure. Through the exhibition, we connected with three new bone cancer patients and researchers, oncologists, and members of the public across the UK.

Fundraising

Thanks to the tireless commitment and generosity of our incredible supporters, partners and volunteers, we were able to raise a phenomenal £4,192,813 in 2024.

In a challenging economic climate, this was a remarkable achievement and we would like to thank every trust, foundation, company, and individual who donated or raised funds for us this year. Your generosity and commitment mean we can continue to fund pioneering research, provide vital information and support, drive awareness and give hope to patients and families.

Throughout the year, our amazing community of supporters threw themselves into every kind of fundraising activity, from running, walking and swimming many miles to holding golf days, tea parties and concerts – raising a staggering £2.43million. This included our biggest London Marathon team ever, with 124 runners raising over £500,000. Whilst more than 25,000 people took on one of our ten virtual challenges during the year, collectively raising £578,949 through everything from knitting to horse riding.

Our amazing Charity of the Year corporate partners during 2024 included OC&C Strategy, Gatehouse Bank, Praetura Group, Natwest East of England, Clear Quality Ltd and Steeper Group. Together they raised an incredible £191,451.

In 2024, thirty-six trusts and foundations donated £381,280 towards our work. We are grateful to each one of the charitable trusts that supported us during 2024, and we would like to acknowledge the Clive Richards Foundation, Takeda, the Robert Luff Foundation, the Albert Gubay Charitable Foundation, the Light Fund, the Leslie Mary Carter Charitable Trust, Cerapedics, Biocomposites and the Lochlands Trust. We would also like to thank the following organisations for their support: Children with Cancer UK, Stonebridge Homes, Worldwide Scaffold & Access, RBC Brewin Dolphin, Evoke Classics and JMW Solicitors.

2024 was another record year for our Regional Relationship Team, with year-end income exceeding £1.4million and we welcomed more new Special Funds into our dedicated community with the number of funds reaching 75 in total. Our partnership with Teddy Rocks Festival continued in 2024, with Ted’s family setting up a Special Fund and donating an amazing £40,000 from the 2024 event bring the total raised to over £90,000.

One of the highlights of the year came in July when 10-year-old Libby Atkins won Young Fundraiser of the Year at the National Fundraising Awards. Libby began fundraising for BCRT from her hospital bed when she was going through treatment for Ewing sarcoma and she went on to set up a Special Fund and with the help of her family and local community, raised over £60,000 in little over a year. Libby has featured in key awareness campaigns and has inspired thousands of people with her drive to raise funds to help other children in similar situations. Libby is an extraordinary girl whose spirit and determination continues to astound us all, and we couldn't be more proud of her.

Thanks again to everyone who supported us in 2024, without you our work just wouldn’t be possible.

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BONE CANCER RESEARCH TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

FINANCIAL REVIEW

Income and expenditure

In 2024 BCRT achieved total income of £4,192,813, an increase of 42% from the previous year (2023: £2,945,241), a strong result against a backdrop of a challenging economic environment. We again continued to capitalise on fundraising opportunities and engage with more new supporters, raising awareness of the signs and symptoms of primary bone cancer as well as raising funds. We also received a grant from UK Research and Innovation (UKRI) for the third consecutive year.

We sincerely thank every single fundraiser who contributed in 2024, no matter how large or small - every donation makes such a difference in enabling BCRT to fulfil its charitable objectives.

During the year we spent £3,463,544 on charitable activities, including awarding grants totalling £1,141,908. Charitable spend was similar to spend in 2023 of £3,244,247. Fundraising costs were £1,056,851. We generated a surplus of £959,841.

Investment policy and objectives

BCRT's investment policy requires that there must be no direct investment into tobacco or vaping companies. The Charity's investments are held in a combination of fixed interest securities, UK and overseas equities and alternative investments. The funds are held in two portfolios and managed by Brewin Dolphin. The Portfolio number 1, which comprised 59% of the total fund at 31 December 2024, has an investment mandate of 'income and capital growth with moderate investment risk', whilst the mandate for Portfolio number 2, 41% of total value at year end, is 'income and capital growth with low investment risk'.

During 2024 Portfolio No.1 made a total return of +8.72%. This compared to a total return in the MSCI Balanced Index of +10.22%. The market value of the investment portfolio as at 31 December 2024 was £2,290,764. During 2024 the Portfolio No.2 made a total return of +7.17%. This compared to a total return in the MSCI Conservative Index of +8.06%. The market value of the investment portfolio as at 31 December 2024 was £1,608,410.

Reserves policy

BCRT has a policy of maintaining sufficient reserves to enable the Charity to meet, as a minimum, its operational costs for six months. There were no designated reserves at the end of 2024. Restricted reserves at 31 December 2024 were £3,691,065 whilst free reserves were £870,672. The trustees regularly monitor and review the reserves held within the context of the funds required to fulfil the objectives of the Charity.

Going concern

The trustees believe that the Charity is a "going concern" based on the current financial status, the ongoing funding streams, the planned expenditure and research strategy.

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

FUTURE PLANS

In 2025 we plan continue working to meet the aims and objectives in our 2022-2032 strategy. More specifically we plan to:

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BONE CANCER RESEARCH TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Charity was originally set up under a deed of trust as an unincorporated charity (the Trust). The Trust became a Charitable Incorporated Organisation under a deed dated 11[th ] December 2014.

The Charity is controlled by its governing document, a deed of trust dated 11[th ] December 2014 and amended 6[th ] February 2019.

The Charity is managed by a Board of Trustees.

Bone Cancer Research Trust is a registered Charity in England & Wales, Number 1159590.

Board of trustees

Professor Alison Gartland - Chair

Alison is a Professor of Bone and Cancer Biology at The University of Sheffield and has a background of over 20 years of research into bone biology including primary bone cancer. Alison currently heads up a team of researchers looking at mechanisms of primary and metastatic bone diseases and is regularly involved in education of Medical Students at The University of Sheffield. As such Alison has knowledge of the current research landscape and also the medicine curriculum and teaching priorities for the doctors of the future. Alison is passionate about raising awareness about primary bone cancer.

Elizabeth Eatock - Deputy Chair (until 23/10/2024)

Liz is a chartered accountant with experience of working in the public and charity sectors. Having previously worked at BCRT as Head of Finance, Liz has continued to use her finance and governance knowledge to support the Charity as a trustee.

Andrew Booth

Andrew is a seasoned technology executive with over 17 years of experience in the commercial tech industry. For the past six years, he has worked for a Financial Regulatory Technology business, currently holding the role of Vice President of Technology, with responsibility for not only leadership and traditional technology but also Information Security and Technical Governance. Andrew has been a trustee of BCRT since April 2023 and joined the board to share his many years of leadership experience and knowledge of governance and compliance to help further the Charity's goals.

Dr Anthea Martin

Anthea has personal experience of bone cancer, having been diagnosed with Ewings Sarcoma when they were 14. This drove them to pursue a career in medical research, and they completed a PhD in cancer biology. Anthea then moved into medical and science writing, which led them to working in the charity sector. After a stint as a science communicator in a large cancer charity, Anthea moved into fundraising. As well as the main trustee board, Anthea sits on the Fundraising sub-committee.

Arlene Eves (until 23/04/2024)

Arlene is a pensions lawyer experienced in advising trustees of occupational pension schemes and has a personal experience of bone cancer. She joined BCRT as a trustee in 2018.

Professor Bernadette Brennan

Bernadette is a Professor in Paediatric Oncology and Consultant Paediatric Oncologist at Royal Manchester Children's Hospital and The Christie NHS Foundation Trust. She is a NCRI Sarcoma Chair and member of the YOSS, Bone and STS subgroup, she chairs the CCLG (Childhood Cancer and Leukaemia Group) Rare Tumour Group and is a member of EXPeRT European Rare Tumour Group. She has given a number of invited lectures for learned societies and research groups both in the UK and overseas.

Charlene Young

Charlene was diagnosed with Osteosarcoma at 27 years old in 2011. Over recent years, she has used her lived experience and passion through her own health inequalities to inform, support and campaign for changes in cancer care. She sits on multiple boards and panels for charities, hospitals, and health organisations where she consults and collaborates with researchers and medical teams to inform and improve patient care.

Charlene is also a Patient Advisory Board Member and Grant Reviewer for Osteosarcoma Now and a Patient Representative for FOSTER (Fight Osteosarcoma Through European Research) and the EEC (Euro Ewing Consortium). In 2021 she was nominated for a Patient Ambassador Award for her contribution to improving the outreach of the BCRT's Support & Information service to all communities. In 2023 Charlene was awarded Inspirational Mother of The Year.

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

Damian Harper (until 25/10/2024)

Damian was diagnosed with Osteosarcoma in 1986 at just 17 years old. He has had a successful career, initially as a biomedical scientist, working in a pathology laboratory, then moving into project and programme management.

Dr Darrell Green

Darrell’s best friend passed away from Ewing sarcoma when they were teenagers. Darrell is now a Lecturer and Research Group Leader at Norwich Medical School, University of East Anglia. Darrell trained in molecular genetics at Addenbrooke’s Hospital in Cambridge before obtaining his PhD in Medicine at UEA. His research combines genetics, cell and molecular biology with bioinformatics to study gene silencing in primary bone cancer. Darrell sits on grant review panels for national funding agencies across Europe as well as the editorial boards of scientific journals including the premier journal in the field, the Journal of Bone Oncology. He has appeared several times on TV and Radio and has presented his research across the UK and in the US. He is a member of the Euro Ewing Consortium (EEC) and the Fight Osteosarcoma Through European Research (FOSTER) Consortium. In 2019, he was listed as a Universities UK Top 100 People “The Nation’s Lifesavers”. In 2020, Darrell joined the Board of Trustees for Bone Cancer Research Trust. In 2024, he was awarded Freedom of the City of London for “impactful work in oncology”.

David Elston

David is a consultant corporate lawyer who has previously worked as an in-house lawyer in various areas of business including financial services, engineering and strategy, and is currently working for a medical charity. He has extensive experience as a charity trustee in character education and in environmental research and development and has been involved in charity governance and law. His family lost a close friend of one of his children through bone cancer some years ago and, like most of us, has known many others suffering, and often recovering, from cancer in its various forms.

Francesca Robinson

Frankie joined as a trustee in September 2023, having known about BCRT for several years through the Al Dawson Special Fund. Cancer has been prevalent in Francesca's life, after losing her step mum to secondary breast cancer in 2004 and has given her an understanding of how cancer can affect families. She has over 14 years' experience in PR and Marketing, having worked in a variety of roles both client side and in agencies. Before joining BCRT, Frankie served as a Governor at four secondary school for over eight years with a special focus on Safeguarding.

Gillian Johnston

Gill has 40 plus years' experience in bookkeeping, payroll and general administration. Her son, Anthony, passed away following a battle with Osteosarcoma in October 2002, and she was a founding trustee of BCRT.

Mr Jonathan Stevenson

Jonathan is a Consultant in Orthopaedic Oncology at the Royal Orthopaedic Hospital, Birmingham, managing adult and paediatric bone and soft tissue tumours of the limbs and pelvis. He became involved with BCRT in 2019 to help promote research and awareness.

Margaret Moore OBE

Margaret is a solicitor by profession. She practised commercial and competition law in the City of London for over 30 years. Since her retirement in 2012, she has volunteered as a trustee of a variety of charities (including Sue Ryder, Great Britain Wheelchair Rugby and the Royal Voluntary Service) and as a school governor. She is Vice Chair of the Fundraising Regulator. She became a member of BCRT's Patient and Public Involvement Panel, and then a trustee of BCRT following the death of her nephew, Sam, from Ewing Sarcoma in May 2020.

Mike Ashton

Mike has had a long career in the marketing and advertising industries. His son, Frank, was diagnosed with Ewing sarcoma in 2016 and passed away in 2019, aged 14.

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BONE CANCER RESEARCH TRUST

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2024

Recruitment and appointment of new trustees

The CIO constitution requires the Board of Trustees to have at least 8 members. BCRT reviews the skills mix of the existing Board when recruiting new trustees, to ensure that their skills, personal and professional experiences are complementary to the existing board.

On their appointment, new trustees are provided with, or have online access to the following documents:

Following their appointment, new trustees have a planned induction process during which they meet the staff team, spend time with other trustees, and get to know more about BCRT's activities. Trustees serve a 3-year term, after which they are eligible for reelection.

Organisational structure

The Board of Trustees meets at least 4 times a year to set the strategic direction of the Charity, review ongoing operational and financial performance, approve the awarding of new research grants, and review the risks faced by the Charity. The Trustees give their time freely and no trustee remuneration was paid during the year. Details of trustee expenses and related party transactions are disclosed in notes 11 and 25 of the accounts.

Responsibility for the day-to-day running of the Charity is delegated to the Chief Executive Officer, who is supported by a Senior Leadership Team, which comprises:

The pay of the Chief Executive Officer and Senior Leadership Team is benchmarked against appropriate roles in similar charities. The Charity is committed to achieving a balance between paying market rates to attract the most competent staff, and careful management of funds. A policy for staff remuneration is in place and applies to all staff employed by the Charity.

The total number of staff employed at 31 December 2024 was 37 (including 11 who work part time).

The Charity has a Conflict-of-Interest Policy for Trustees and Staff, and a register of interests is maintained for Trustees, the Chief Executive Officer and the Senior Leadership Team. Trustees are required to disclose all relevant interests and are required to withdraw from any decisions where an actual or potential conflict of interest may arise. Any individual with an interest in a matter being discussed at a meeting must immediately declare the interest to the meeting. The Chair of the meeting will then decide whether that individual will be entitled to vote on the matter.

Sub-Committees

Work was undertaken during the year to establish sub-committees of the Trustee Board. These comprise:

The purpose of the sub-committees is to assist the full board in fulfilling its oversight responsibilities and achieving its charitable objectives in accordance with the organisational strategy.

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BONE CANCER RESEARCH TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

Risk management

The trustees have a duty to identify and review the risks to which the Charity is exposed, and to ensure that appropriate controls are in place to provide reasonable assurance against fraud and error. BCRT has a risk management policy, which reflects the commitment of the trustees to maintaining a strong risk management framework. The trustees have examined the major strategic, business and operational risks which are faced by the Charity, and confirm that there are suitable systems and procedures in place to enable those risks to be appropriately mitigated managed and monitored. The CEO and Senior Leadership Team has a day-to-day responsibility to highlight any major risks that they may become aware of during the course of their duties.

TRUSTEES' RESPONSIBILITY STATEMENT

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on 17[th] October 2025 and signed on its behalf by:

..............................................................................

David Elston – Chair of Trustees

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF BONE CANCER RESEARCH TRUST

Opinion

We have audited the financial statements of Bone Cancer Research Trust (the 'charity') for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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 the charity'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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, 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 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, the trustees are responsible for the preparation of the financial statements which 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 charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF BONE CANCER RESEARCH TRUST

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 a Report of the Independent Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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 is detailed below:

Based on our understanding of the entity and industries in which it operates, we identified the principal risks of non-compliance with laws and regulations related to charitable trusts, the application of charitable funds and data protection. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011.

We assessed the susceptibility of the company's financial statements to material misstatement and how fraud might occur, including through discussions with the directors, discussions within our audit team planning meeting, updating our record of internal controls, and ensuring these controls operated as intended. We determined the principal risks were related to posting journal entries to manipulate profits, and management bias in accounting estimates, especially accruals and prepayments.

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed audit procedures which included, but were not limited to:

At the completion stage of the audit, the engagement partner's review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance of laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement relating to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF BONE CANCER RESEARCH TRUST

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' 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 charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Thomas Coombs Limited Statutory Auditor Chartered Accountants 3365 The Pentagon Century Way Thorpe Park Leeds West Yorkshire LS15 8ZB

17[th] October 2025

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BONE CANCER RESEARCH TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Other trading activities
3
Investment income
4
Total
EXPENDITURE ON
Income generation
5
Charitable activities
6
Research
Awareness
Information
Support
Governance
Total
Net gains on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
1,759,983
5,897
183,269
1,949,149
1,056,851
157,335
734,097
169,801
329,504
31,383
2,478,971
230,572
(299,250)
1,169,922
870,672		 Restricted
funds
£
2,243,664
-
-
2,243,664
-
984,573
-
-
-
-
984,573
-
1,259,091
2,431,974
3,691,065		 2024
Total
funds
£
4,003,647
5,897
183,269
4,192,813
1,056,851
1,141,908
734,097
169,801
329,504
31,383
3,463,544
230,572
959,841
3,601,896
4,561,737		 2023
Total
funds
£
2,772,956
5,551
166,734
2,945,241
998,518
1,060,499
709,561
172,262
274,874
28,533
3,244,247
186,763
(112,243)
3,714,139
3,601,896

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BONE CANCER RESEARCH TRUST

STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2024

Notes
FIXED ASSETS
Intangible assets
14
Tangible assets
15
Investments
16
CURRENT ASSETS
Stocks
17
Debtors
18
Investments
19
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
20
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
21
NET ASSETS
FUNDS
23
Unrestricted funds
-
Free reserves
-
Fixed asset reserve
-
Designated reserve
Restricted funds
TOTAL FUNDS		 Unrestricted
fund
£
23,598
15,829
731,296
770,723
145,078
223,102
406,005
237,758
1,011,943
(728,936)
283,007
1,053,730
(183,058)
870,672		 Restricted
funds
£
-
-
3,176,596
3,176,596
-
-
1,755,487
1,038,963
2,794,450
(1,170,142)
1,624,308
4,800,904
(1,109,839)
3,691,065		 2024
Total
funds
£
23,598
15,829
3,907,892
3,947,319
145,078
223,102
2,161,492
1,276,721
3,806,393
(1,899,078)
1,907,315
5,854,634
(1,292,897)
4,561,737
831,245
39,427
-
3,691,065
4,561,737		 2023
Total
funds
£
6,738
22,198
3,619,186
3,648,122
191,748
211,563
2,004,897
1,210,306
3,618,514
(1,857,779)
1,760,735
5,408,857
(1,806,961)
3,601,896
1,140,986
28,936
-
2,431,974
3,601,896

The financial statements were approved by the Board of Trustees and authorised for issue on 17[th] October 2025 and were signed on its behalf by:

............................................. David Elston – Chair of Trustees

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BONE CANCER RESEARCH TRUST

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Purchase of intangible fixed assets
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of fixed asset investments
Medium and long term cash deposits
Investment income
Net cash (used in)/provided by investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning of
the reporting period
Cash and cash equivalents at the end of the
reporting period		 2024
£
126,001
126,001
(20,160)
(7,966)
(2,034,409)
1,976,275
(156,595)
183,269
(59,586)
66,415
1,210,306
1,276,721		 2023
£
(416,677)
(416,677)
-
(5,842)
(604,906)
541,746
200,448
166,734
298,180
(118,497)
1,328,803
1,210,306

26

BONE CANCER RESEARCH TRUST

NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/(expenditure) for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Realised gain on investments
Amortisation charges
Unrealised loss/(gain) on investments
Investment income
(Increase)/decrease in grant discount
Decrease in stocks
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Net cash provided by/(used in) operations
ANALYSIS OF CHANGES IN NET FUNDS
At 1/1/24
£
Net cash
Cash at bank and in hand
1,210,306
1,210,306
Liquid resources
Deposits included in cash
-
Current asset investments
2,004,897
2,004,897
Total
3,215,203		 2024
2023
£
£
959,841
(112,243)
14,335
14,923
(18,425)
(9,065)
3,300
3,300
(212,147)
(177,698)
(183,269)
(166,734)
18,807
(158,564)
46,670
53,589
(11,539)
30,005
(491,572)
105,810
126,001
(416,677)
Cash flow
At 31/12/24
£
£
66,415
1,276,721
66,415
1,276,721
-
-
156,595
2,161,492
156,595
2,161,492
223,010
3,438,213

2. ANALYSIS OF CHANGES IN NET FUNDS

27

BONE CANCER RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The trustees consider that there are no material uncertainties about the Charity's ability to continue for a period of not less than 12 months from the date of the approval of the financial statements. Accordingly the financial statements have been prepared on the going concern basis.

Income

Donations and sponsored events are included in the Statement of Financial Activities when:

Income from challenge events is recognised when the event takes place. Any income received in relation to events taking place in future years is held as deferred income until the event takes place.

Legacies are recognised when it is probable that they will be received. Receipt is normally probable when:

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accruals model.

No amounts are included in the financial statements for services donated by volunteers.

Interest is accounted for on an accruals basis.

For those income streams which fall under the scope of VAT, income is recognised net of VAT.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

The costs of generating income consist of investment management fees and those costs incurred attracting voluntary income and activities for generating funds, such as events.

Costs of charitable activities include grants made and an apportionment of overheads and administration costs.

Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Charity. Single or multi-year grants are accounted for where 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 any condition attaching to the grant is outside of the control of the Charity.

28

BONE CANCER RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES - continued

Expenditure

All grant provisions in excess of one year are discounted to net present value. The discount rate used to determine the net present value is calculated with reference to UK Gilt yields at the balance sheet date, weighted to reflect the expected phasing of future grant payments. The discount rate applied at 31 December 2024 was 4.35%. (2023: 3.46%).

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to external inspection an legal fees together with an apportionment of overhead and administration costs.

Critical accounting estimates and judgements

In the application of the charities accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Critical estimates and judgements

Allocation of administration costs

Administration costs are allocated between the various activities of the group based on the weighting each activity has within total expenditure. The allocation of these costs is considered to be critical to the accounts because they have the ability to materially alter the allocation of costs between expenditure on raising funds and expenditure on charitable activities.

The activities of the charity are categorised as follows:

Income generation - expenditure incurred in order to raise funds for charitable purposes. Research - grant funding research into finding a cure for primary bone cancer. Awareness - increasing survival rates through raising awareness of primary bone cancer. Information - providing accurate and reliable information across all forms of primary bone cancer. Support - improving access to primary bone cancer support for all patients, family members, carers and friends.

The breakdown of administration costs and how these were allocated between governance and other administration costs is based on the following rates:

Income generation 40.2% (2023: 40.7%) Research 11.9% (2023: 10.7%) Awareness 28.5% (2023: 29.8%) Information 6.6% (2023: 7.2% ) Support 12.8% (2023: 11.6%)

The trustees consider it to be appropriate to exclude grants awarded from the calculation to avoid significant year on year variances in the breakdown of administration costs.

Intangible fixed assets

Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Website - 25% on cost

29

BONE CANCER RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES - continued

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Costs includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided to write off the cost less the estimated residual of tangible fixed assets by equal instalments over their estimated useful economic lives as follows:

Fixtures and fittings - 25% on cost Computer equipment - 33% on cost and 25% on cost

Stocks

Stocks are valued at weighted average cost, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Investments

Investments held by the charity are shares which are publicly traded. Investments are recognised initially at fair value which is normally the transaction price including transaction costs. Subsequently, they are measured at fair value with changes recognised in 'net gains / (losses) on investments' in the SoFA.

Current asset investments held by the charity are medium and long term cash deposits made with banks and funds. These deposits have a maturity in excess of three months from the date of acquisition.

Financial instruments other than investments

The charity has financial assets and financial liabilities of a kind that qualify as basic and complex financial instruments. Basic financial instruments are measured at their settlement value in the case of current assets and liabilities and at discounted settlement value in the case of creditors falling due after more than one year.

Status

The Bone Cancer Research Trust is a Charitable Incorporated Organisation (CIO), the liability is therefore restricted If the CIO is wound up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.

Volunteers

The value of services provided by volunteers is not incorporated into these financial statements. Further details of the contribution made by volunteers can be found in the Trustees' annual report.

Where services are provided to the Charity as a donation that would normally be purchased from a supplier, this contribution is included in the financial statements at an estimate based on the value of the contribution to the Charity.

Pension costs

The Charity contributes to defined contribution schemes on behalf of some of its employees. These contributions are charged to the SoFA when accrued.

30

BONE CANCER RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

2.
DONATIONS AND LEGACIES
Event income
Donations
Legacies
Grants
Grants received, included in the above, are as follows:
BEIS grant
3.
OTHER TRADING ACTIVITIES
Other trading income
4.
INVESTMENT INCOME
Investment income
5.
INCOME GENERATION
Raising donations and legacies
Staff costs
Event costs
Other trading costs
Other fundraising costs
Administration costs

31

BONE CANCER RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

6. CHARITABLE ACTIVITIES COSTS

Research
Awareness
Information
Support
Governance
Total 2023
DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Support activities
Marketing and awareness
Conference/events
Travel and subsistence
Recruitment
Training and development
Other direct costs		 Direct
Costs (see
note 7)
£
253,468
609,630
141,011
273,636
-
1,277,745
1,146,768		 Grant
funding of
activities
(see note
8)
£
836,691
-
-
-
-
836,691
804,990		 Administration
costs (see
note 9)
£
51,749
124,467
28,790
55,868
31,383
292,257
293,971
2024
£
720,873
97,764
330,066
108,065
12,046
-
950
7,981
1,277,745		 Totals
£
1,141,908
734,097
169,801
329,504
31,383
2,406,693
2,245,729
2023
£
602,943
23,525
386,018
91,845
19,342
5,741
700
16,654
1,146,768

7. DIRECT COSTS OF CHARITABLE ACTIVITIES

32

BONE CANCER RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

8. GRANTS PAYABLE

Research 2024
£
836,691		 2023
£
804,990
2024 2024 2024 2023
Unrestricted Restricted Total Total
£ £ £ £
Dr Jun Ishihara, Imperial College London - - 250,000 250,000 -
Overcoming osteosarcoma immunotherapy
resistance by tumourlocalised IL-12 driven
anti-tumour immunity.
Dr Martin Pule, University College London - - 107,465 107,465 -
Years 2-4 of a PhD studentship - Towards
Engineered T Cells for Osteosarcoma.
Mr Kenneth Rankin, Newcastle University - - 79,972 79,972 -
Year 2 of the Surgical Consortium - Surgical
consortium- Optimisation of fluorescence
technology for bone sarcoma image guided
surgery and photodynamic therapy.
Prof S Strauss, University College London - - 67,647 67,647 -
Year 2 of the Euro Ewing Consortium.
Prof S Strauss, University College London - 56,136 - 56,136 -
Data Partnership Collaboration.
Jonathan Stevenson, Royal Orthapaedic - 55,000 55,000 -
Hospital - Sample Collection Infrastructure
Grant.
Prof Adrienne Flanagan, Royal National - 50,000 50,000 -
Orthapaedic Hospital - Sample Collection
Infrastructure Grant.
Dr Nezha Benabhallah, Edinburgh Cancer - 34,969 34,969 -
Research Centre - Targeting Polycomb
Assembly: A Novel Therapeutic Strategy for
Bone Sarcoma Treatment.
Jonathan Stevenson, Royal Orthapaedic - 23,000 23,000 -
Hospital - Sample Collection Infrastructure
Grant.
Dr Victoria Williamson, University of Oxford - 21,040 21,040 -
& University of Bath - Full spectrum of
primary bone tumours of the spine
including benign and malignant spinal
sarcoma.
Prof S Strauss - 20,369 20,369 -
Mr Kenneth Rankin, Newcastle University - - 16,000 16,000 -
Sample Collection Infrastructure Grant.

33

BONE CANCER RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

8. GRANTS PAYABLE - continued

GRANTS PAYABLE - continued
2024 2024 2024 2023
Unrestricted Restricted Total Total
£ £ £ £
Dr N Gaspar, Gustave Roussy - Meeting - 9,156 9,156 -
Grant Award to support The FOSTER annual
meeting.
Graham Cook, The University of Leeds - - 6,371 6,371 -
Oncolytic virus therapy for Ewing’s sarcoma
Prof Agamemnon Grigoriadis, King’s College 5,733 - 5,733 -
London - Haem oxygenase-1 (HO-1), a
novel druggable target for prevention of
osteosarcoma growth and metastasis
Grant salary and consumables final claim - 9,841 9,841 -
June 2023 from KING001
Dr P Huang, Institute of Cancer Research, A - - -
deep dive into the proteomic landscape of
chondrosarcoma: improving patient
stratification and outcomes		 250,000
Prof Judith Bovee, Leiden University, - - -
Unravelling adamantinoma histogenesis 100,000
Prof S Strauss, UCL, Euro Ewing Consortium - - - 98,519
Mr Kenneth Rankin, Newcastle, - - -
Optimisation of fluorescence technology
for bone sarcoma image guided surgery and
photodynamic therapy		 77,403
Prof Sybille Mittnacht, UCL, CancerInstitute, - - -
PhD studentship 119,301
Professor Alison Gartland, University of - - -
Sheffield, Understanding Chondrosarcoma -
from pathogenesis to new treatment
options		 162,012
Dr P Huang, Institute of Cancer Research, - - -
Evaluation of a gene expression-based risk
classifier for tyrosine kinase inhibitor
therapy in the INTER-EWING-1 and rEECur
trials. 50,000
Stanmore infrastructure - - - 42,227
Prof Sally Fletcher, University of
Birmingham, Leveraging a new class of drug
target to develop novel combination
therapies for Chondrosarcoma
- - - 24,520
Dr M McCabe - Biological studies in rEECur,
an international randomised controlled trial
of chemotherapy for the treatment of
recurrent and primary refractory Ewing
sarcoma
- - - 23,070
Dr Katherine Trevers, UCL, Can cell-free
RNA (cfRNA) be used to measure disease
burden in chordoma
- - - 22,860

34

BONE CANCER RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

8. GRANTS PAYABLE - continued

2024
Unrestricted
£
2024
Restricted
£
Dr Darrell Green, University of East Anglia,
Single-cell profiling demonstrating
childhood PBCintratumour heterogeneity:
datasets for future reference
-
-
Skills development grants
-
28,338
Birmingham Orthopaedic Oncology
Consensus Meeting (BOOM)
-
-
Prof Aykut Uren, Georgetown University,
Lombardi Comprehensive Cancer Centre,
Second Generation Clofarabine Derivatives
as CD99 Inhibitors
-
-
Dr Abigail Evans, UCL, Meeting support EEC
2023
-
-
Research Grants Awarded
61,869
789,167
Dr Katherine Trevers
(530)
-
Dr Darrell Green
(1,605)
-
BCRT 56/17
(10,648)
-
Prof S Strauss
-
(20,369)
Newcastle Infra, surplus balance
outstanding
-
-
Iben Lyskjaer UCL, surplus balance
outstanding
-
-
Prof Agamemnon Grigoriadis, Kings College,
surplus balance outstanding
-
-
Graham Cook, Leeds, surplus balance
outstanding
-
-
William Cross, UCL, surplus balance
outstanding
-
-
Prof Rob Falconer, Bradford University,
surplus balance outstanding
-
-
Other miscellaneous grants surplusbalances
outstanding
-
-
Provisions no longer required
(12,783)
(20,369)
(Increase)/decrease in grant discount
18,807
-
Total
67,893
768,798		 2024
Total
£
-
28,338
-
-
-
851,036
(530)
(1,605)
(10,648)
(20,369)
-
-
-
-
-
-
-
(33,152)
18,807
836,691		 2023
Total
£
17,257
14,532
12,000
3,382
600		 2023
Total
£
17,257
14,532
12,000
3,382
600
1,017,683
-
-
-
-
(7,164)
(2,673)
(17,566)
(6,371)
(11,421)
(9,729)
(9,042)
(63,966)
(158,564)
804,990

35

BONE CANCER RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

9. ADMINISTRATION COSTS

ADMINISTRATION COSTS
Investment
management
Governance
Management
costs
costs
£
£
£
Income generation
175,466
21,982
-
Research
51,749
-
-
Awareness
124,467
-
-
Information
28,790
-
-
Support
55,868
-
-
Governance
-
-
31,383
436,340
21,982
31,383		 Totals
£
197,448
51,749
124,467
28,790
55,868
31,383
489,705

Administration costs, included in the above, are as follows:

Wages
Social security
Pensions
Rent, rates and water
Telephone
Postage and stationery
Sundries
Travel and subsistence
Software licenses
Recruitment and human resources costs
Stock management
Bank charges
Legal fees
Amortisation of intangible fixed assets
Depreciation of tangible fixed assets
Portfolio management
Trustees' expenses and meeting costs
Auditors' remuneration
Accountancy and legal fees
Total 2023
 Income
generation
£
62,058
6,535
2,350
11,320
5,973
3,166
6,713
4,531
19,337
2,815
37,293
362
5,922
1,327
5,764
21,982
-
-
-
197,448
212,250		 Research
£

18,303
1,927
693
3,339
1,761
934
1,980
1,336
5,703
830
10,999
107
1,746
391
1,700
-
-
-
-
51,749
48,025		 Awareness
£
44,022
4,636
1,666
8,030
4,236
2,246
4,762
3,214
13,717
1,996
26,455
257
4,200
941
4,089
-
-
-
-
124,467
133,370		 Information
£
10,183
1,072
385
1,857
980
520
1,101
743
3,173
462
6,119
60
971
218
946
-
-
-
-
28,790
32,378

36

BONE CANCER RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

9. SUPPORT COSTS - continued

Wages
Social security
Pensions
Rent, rates and water
Telephone
Postage and stationery
Sundries
Travel and subsistence
Software licences
Recruitment and human resources costs
Stock management
Bank charges
Legal fees
Amortisation of intangible fixed assets
Depreciation of tangible fixed assets
Portfolio management
Trustees' expenses and meeting costs
Auditors' remuneration
Accountancy and legal fees
Total 2023
10.
AUDITORS' REMUNERATION
Fees payable to the charity's auditors for the audit of the
statements		 Support
£
Governance
£
19,760
-
2,081
-
748
-
3,604
-
1,902
-
1,008
-
2,137
-
1,442
-
6,157
-
896
-
11,874
-
116
-
1,884
-
423
-
1,836
-
-
-
-
8,415
-
12,800
10,168
55,868
31,383
51,665
28,533
charity's financial		 2024 Total
activities
£
2023 Total
activities
£
154,326
107,276
16,251
10,367
5,842
3,552
28,150
25,227
14,852
12,827
7,874
10,858
16,693
12,346
11,266
7,267
48,087
47,912
6,999
5,726
92,740
137,712
902
1,014
14,723
44,555
3,300
3,300
14,335
14,923
21,982
32,826
8,415
2,574
12,800
11,040
10,168
14,919
489,705
506,221
506,221
2024
2023
£
£
12,800
11,040

11. TRUSTEES' REMUNERATION AND BENEFITS

The average number of trustees in the year were 13 (2023: 12).

All trustees give their time freely and no Trustee remuneration was paid in the year. During the year monetary donations made by Trustees to the Charity totalled £668 (2023: £7,612). A number of trustees have connections to organisations which donate funds to the Trust. Further details are provided in note 25.

Trustees' expenses

Reimbursed expenses, which are all subject to the charity's processes of internal controls, do not form part of the remuneration and are not included above. During the period, trustee expenses of £2,304 (2023: £2,574) were reimbursed to four trustees (2023: six trustees).

37

BONE CANCER RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

12. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2024
£
1,216,462
122,521
50,738
1,389,721		 2023
£
987,884
93,809
36,807
1,118,500

The average monthly number of employees during the year was as follows:

Permanent staff

2024 2023
34 31

The average full time equivalent of employees during the year was 30.1 (2023: 26.0). The breakdown of employees per pillar was as follows:


Income generation
Research
Awareness
Information
Support
Admin		 2024
11.4
3.6
6.0
2.8
2.8
3.5
30.1		 2023
10.3
3.4
5.1
2.3
2.7
2.2
26.0

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

In the band £60,001 - £70,000
In the band £70,001 - £80,000
In the band £80,001 - £90,000		 2024
Number
2
1
1		 2023
Number
-
-
-

The Trust considers its key management personnel comprise the trustees and its Senior Leadership Team. The total employment costs to the charity of the key management personnel were £328,059 (2023: £279,000). The Senior Leadership Team was comprised of 4 members of staff in 2024 (2023: 4).

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Other trading activities
Investment income
Total		 Unrestricted
fund
£
1,669,704
5,551
166,734
1,841,989		 Restricted
funds
£
1,103,252
-
-
1,103,252		 Total
funds
£
2,772,956
5,551
166,734
2,945,241

38

BONE CANCER RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

EXPENDITURE ON
Income generation
Charitable activities
Research
Awareness
Information
Support
Governance
Total
Net gains on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
14.
INTANGIBLE FIXED ASSETS
COST
At 1 January 2024
Additions
At 31 December 2024
AMORTISATION
At 1 January 2024
Charge for year
At 31 December 2024
NET BOOK VALUE
At 31 December 2024
At 31 December 2023		 Unrestricted
fund
£
998,518
389,598
709,561
172,262
242,462
28,533
2,540,934
186,763
(512,182)
1,682,104
1,169,922		 Restricted
funds
£
-
670,901
-
-
32,412
-
703,313
-
399,939
2,032,035
2,431,974		 Total
funds
£
998,518
1,060,499
709,561
172,262
274,874
28,533
3,244,247
186,763
(112,243)
3,714,139
3,601,896
Website
costs
£
51,387
20,160
71,547
44,649
3,300
47,949
23,598
6,738

39

BONE CANCER RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

15. TANGIBLE FIXED ASSETS

Fixtures
and
Computer
fittings
equipment
£
£
COST
At 1 January 2024
9,949
63,248
Additions
-
7,966
At 31 December 2024
9,949
71,214
DEPRECIATION
At 1 January 2024
9,001
41,998
Charge for year
373
13,962
At 31 December 2024
9,374
55,960
NET BOOK VALUE
At 31 December 2024
575
15,254
At 31 December 2023
948
21,250		 Totals
£
73,197
7,966
81,163
50,999
14,335
65,334
15,829
22,198

16. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 January 2024
Additions
Disposals
Revaluations
At 31 December 2024
NET BOOK VALUE
At 31 December 2024
At 31 December 2023		 Listed
investments
£
3,571,610
2,034,409
(1,985,080)
212,147
3,833,086
3,833,086
3,571,610		 Cash and
settlements
pending
£
47,576
27,230
-
-
74,806
74,806
47,576		 Totals
£
3,619,186
2,061,639
(1,985,080)
212,147
3,907,892
3,907,892
3,619,186

There were no investment assets outside the UK.

At 31st December 2024 no individual investment represented more than 5% of the total investment portfolio valuation.

The historical cost at 31st December 2024 is £3,453,600 (2023: £3,464,479).

The funds are held in two portfolios and managed by Brewin Dolphin. The Portfolio number 1, which comprised 59% of the total fund at 31st December 2024, has an investment mandate of ‘income and capital growth with moderate investment risk’, whilst the mandate for Portfolio number 2, 41% of total value at year end, is ‘income and capital growth with low investment risk’.

All investments are carried at their fair value. Investment in equities and fixed interest securities are all traded in quoted public markets, primarily the London Stock Exchange. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value).

40

BONE CANCER RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

16. FIXED ASSET INVESTMENTS - continued

The significance of financial instruments to the ongoing financial sustainability of the Trust is considered in the financial review and investment policy and performance sections of the Trustees' Annual Report.

The main risk to the Charity from financial instruments arises from uncertain investment markets resulting in variable income and capital returns from the portfolio of assets.

Currency translation risks remain for those companies and bonds that are exposed to overseas earnings and assets.

Liquidity risk is anticipated to be low as all assets are traded on recognised exchanges with good liquidity and high trading volumes. The Charity's portfolio has no material investment holdings in markets subject to exchange controls or trading restrictions.

The Charity manages investment risk by appointing professional investment managers and operating an investment policy that provides for a high degree of diversification of holdings within investment asset classes that are quoted on recognised stock exchanges.

The Charity does not make use of derivatives and similar complex financial instruments as it takes the view that investments are held for their longer term total return.

17. STOCKS

17. STOCKS
2024 2023
£ £
Stocks of fund raising items 145,078 191,748
18. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 62,530 39,586
Accrued income, including gift aid recoverable 32,707 14,199
Prepaid event costs 127,865 157,778
223,102 211,563
19. CURRENT ASSET INVESTMENTS
2024 2023
£ £
Medium and long term cash deposits 2,161,492 2,004,897

Included in current asset investments are cash deposits of £nil (2023: £616,090) which have a maturity date of greater than one year from the balance sheet date.

20. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Operational creditors
Taxation and social security
Grants payable
Deferred event income
Other creditors		 2024
£
181,142
45,052
1,524,154
124,553
24,177
1,899,078		 2023
£
129,106
58,689
1,523,719
125,044
21,221
1,857,779

41

BONE CANCER RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

21. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Other creditors
Reconciliation of Grants Awarded
Opening liability obligation
Research grants awarded in the year (note 8)
Research grants refunded in the year
Provisions no longer required (note 8)
Increase in grant discount (note 8)
Paid during the year
Closing liability obligation
Split as:
Due within one year
Due after more than one year		 2024
3,330,680
851,036
-
(33,152)
18,807
(1,350,320)
2,817,051
1,524,154
1,292,897		 2024
£
1,292,897
2023
3,441,275
1,017,683
-
(54,129)
(158,564)
(915,587)
3,330,680
1,523,719
1,806,961		 2023
£
1,806,961

22. LEASING AGREEMENTS

The following operating lease payments are committed to be paid:

Within one year
Between one and five years		 Land and
Buildings
2024
£
16,500
48,125
64,625		 Other
2024
£
-
-
-		 Land and
Buildings
2023
£
16,500
64,625
81,125		 Other
2023
£
115
-
115

42

BONE CANCER RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

23. MOVEMENT IN FUNDS

Net
movement At
At 1/1/24 in funds 31/12/24
Unrestricted funds £ £ £
General fund 1,169,922 (299,250) 870,672
Restricted funds
Ewing Sarcoma
Liberty's Legacy 257,234 (29,028) 228,206
Frank's Fund 136,467 75,782 212,249
Freddie's Future 154,595 56,388 210,983
Fitzy's Fund 201,416 38,208 239,624
Ewing Sarcoma Research Trust 55,522 244,819 300,341
Children with Cancer 1,000,000 - 1,000,000
Love Beth 49,353 34,809 84,162
Ellison's Fund 14,115 49,829 63,944
Libby's Journal of Life 51,879 22,825 74,704
UKRI 2024 - 34,193 34,193
Other funds restricted to research into Ewing Sarcoma 135,539 70,437 205,976
Osteosarcoma
The Inman Charity 6,500 (6,500) -
Robert Lufff Foundation 10,000 - 10,000
Hospital Saturday Fund 10,000 (10,000) -
Thiplow Charitable Trust 5,000 (5,000) -
Sir Samuel Scott of Yews Trust 10,000 (10,000) -
#BeMorelsobel 17,034 7,006 24,040
Rhodri Jones Memorial Appeal 16,978 12,649 29,627
Tom Stead Tribute Fund 15,376 16,211 31,587
Anthony Pilcher Bone Cancer Trust 14,387 (1,948) 12,439
Clive Richards Foundation - 25,000 25,000
Mary Collard Tribute Fund 47,428 30,611 78,039
Albert Gubay Charitable Trust - - -
Sybille Mittnacht Bone Modelling - 50,000 50,000
UKRI 2024 - 8,139 8,139
BEIS Funding 78,379 (78,379) -
Other funds restricted to research into Osteosarcoma 54,107 34,180 88,287
Other Research
The Liz Clarke-Saul Fund 2,199 3,764 5,963
The Barbour Foundation 7,000 (7,000) -
Andy's Bones Fund 755 5,704 6,459
Neo4J UK Ltd 30,000 (30,000) -
Albert Gubay Charitable Trust - 44,178 44,178
UKRI 2024 - 393,642 393,642
Ted's Legacy - 39,673 39,673
CwC UK - 137,094 137,094
Other funds restricted to research 6,212 1,789 8,001

43

BONE CANCER RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

23. MOVEMENT IN FUNDS - continued

At 1/1/24
Infrastructure Grant
Edward Cadbury Trust
5,000
Other funds restricted to infrastructure grants
28,242
Support, Information and Awareness
BNA Charitable Incorporated
5,000
The Light Fund
5,100
Team TenForTen
1,156
Other funds restricted to support, information and awareness
-
TOTAL FUNDS
3,601,896
Net movement in funds, included in the above are as follows:
Unrestricted funds
Incoming
resources
£
Resources
expended
£
General fund
1,949,149
(2,478,971)
Restricted funds
Ewing Sarcoma
Liberty's Legacy
99,538
(128,566)
Frank's Fund
75,891
(108)
Freddie's Future
56,802
(414)
Fitzy's Fund
86,066
(47,857)
Ewing Sarcoma Research Trust
244,828
(10)
Children with Cancer
-
-
Love Beth
37,962
(3,153)
Ellison's Fund
50,391
(562)
Libby's Journal of Life
24,063
(1,238)
UKRI 2024
110,672
(76,479)
Other funds restricted to research into Ewing
Sarcoma
78,254
(7,817)
Osteosarcoma
The Inman Charity
-
(6,500)
Robert Lufff Foundation
10,000
(10,000)
Hospital Saturday Fund
-
(10,000)
Thirplow Charitable Trust
-
(5,000)
Sir Samuel Scott of Yews Trust
-
(10,000)
#BeMorelsobel
7,046
(40)
Rhodri Jones Memorial Appeal
12,747
(98)
Tom Stead Tribute Fund
16,386
(175)
Anthony Pilcher Bone Cancer Trust
1,074
(3,022)
Clive Richards Foundation
25,000
-
Mary Collard Tribute Fund
47,976
(17,365)
Albert Gubay Charitable Trust
125,000
(125,000)
Sybille Mittnacht Bone Modelling
50,000
-
UKRI 2024
160,414
(152,275)
BEIS Funding
-
(78,379)
Other funds restricted to research into
Osteosarcoma
47,190
(13,010)		 Net
movement
in funds
(200)
-
-
-
(1,156)
10,374		 At
31/12/24
4,800
24,242
-
5,100
-
10,374
959,841
4,580,544
Gains and
losses
£
Movement
in funds
£
230,572
(299,250)
-
(29,028)
-
75,783
-
56,388
-
38,209
-
244,818
-
-
-
34,809
-
49,829
-
22,825
-
34,193
-
70,437
-
(6,500)
-
-
-
(10,000)
-
(5,000)
-
(10,000)
-
7,006
-
12,649
-
16,211
-
(1,948)
-
25,000
-
30,611
-
-
-
50,000
-
8,139
-
(78,379)
-
34,180

44

BONE CANCER RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

23. MOVEMENT IN FUNDS - continued

Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Other Research
The Liz Clarke-Saul Fund 9,882 (6,118) - 3,764
The Barbour Foundation - (7,000) - (7,000)
Andy's Bones Fund 10,647 (4,943) - 5,704
Neo4J UK Ltd - (30,000) - (30,000)
Albert Gubay Charitable Trust 44,178 - - 44,178
UKRI 2024 473,946 (80,304) - 393,642
Ted's Legacy 40,000 (327) - 39,673
CwC UK 250,000 (112,906) - 137,094
Other funds restricted to research 17,065 (15,276) - 1,789
Infrastructure Grant
Edward Cadbury Trust - (200) - (200)
Other funds restricted to infrastructure grants 4,000 (8,000) - (4,000)
Support, Information and Awareness
BNA Charitable Incorporated - (5,000) - (5,000)
The Light Fund 5,100 (5,100) - -
Team TenForTen 851 (2,007) - (1,156)
Other funds restricted to support, information and
awareness 20,696 (10,322) - 10,374
TOTAL FUNDS 4,192,813 (3,463,544) 230,572 959,841

Comparative funds are as follows:

Net
movement At
At 1/1/23 in funds 31/12/23
£ £ £
Unrestricted funds
General fund 1,682,104 (512,182) 1,169,922
Restricted funds
Ewing Sarcoma
Liberty's Legacy 233,611 23,623 257,234
Frank's Fund 95,680 40,787 136,467
Freddie's Future 79,716 74,879 154,595
Fitzy's Fund 154,849 46,567 201,416
Ewing Sarcoma Research Trust 27,198 23,168 50,366
Children with Cancer 1,017,606 (17,606) 1,000,000
Love Beth - 49,353 49,353
Ellison's Fund 755 13,360 14,115
Libby's Journey of Life - 51,879 51,879
Other funds restricted to research into Ewing Sarcoma 190,011 (49,316) 140,695

45

BONE CANCER RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

23. MOVEMENT IN FUNDS - continued

Osteosarcoma
The Inman Charity
Robert Luff Foundation
Hospital Saturday Fund
Thriplow Charitable Trust
Sir Samuel Scott of Yews Trust
#BeMoreIsobel
Rhodri Jones Memorial Appeal
Tom Stead Tribute Fund
Anthony Pilcher Bone Cancer Trust
Clive Richards Foundation
Mary Collard Tribute Fund
Other funds restricted to research into Osteosarcoma
Other Research
The Liz Clarke-Saul Fund
The Barbour Foundation
Andy's Bones Fund
Neo4J UK Ltd
Other funds restricted to research
Infrastructure Grant
Edward Cadbury Trust
Other funds restricted to infrastructure grants
Support, Information and Awareness
Takeda
James Tudor Foundation
BNA Charitable Incorporated
The Light Fund
Team TenForTen
Other funds restricted to support, information and awareness
TOTAL FUNDS		 At 1/1/23
£
-
-
-
-
-
-
-
-
4,390
4,861
-
104,835
33,925
-
-
-
37,290
-
46,242
-
-
-
-
-
1,066
3,714,139		 Net
movement
in funds
£
6,500
10,000
10,000
5,000
10,000
17,034
16,978
15,376
9,997
(4,861)
47,428
27,651
(31,726)
7,000
755
30,000
(31,078)
5,000
(18,000)
-
-
5,000
5,100
1,156
(1,066)		 At
31/12/23
£
6,500
10,000
10,000
5,000
10,000
17,034
16,978
15,376
14,387
-
47,428
132,486
2,199
7,000
755
30,000
6,212
5,000
28,242
-
-
5,000
5,100
1,156
-
3,601,896
(112,243)

46

BONE CANCER RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

23. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Ewing Sarcoma
Liberty's Legacy
Frank's Fund
Freddie's Future
Fitzy's Fund
Ewing Sarcoma Research Trust
Children with Cancer
Love Beth
Ellison's Fund
Libby's Journey of Life
Other funds restricted to research into Ewing
Sarcoma
Osteosarcoma
The Inman Charity
Robert Luff Foundation
Hospital Saturday Fund
Thriplow Charitable Trust
Sir Samuel Scott of Yews Trust
#BeMoreIsobel
Rhodri Jones Memorial Appeal
Tom Stead Tribute Fund
Anthony Pilcher Bone Cancer Trust
Clive Richards Foundation
Mary Collard Tribute Fund
Other funds restricted to research into
Osteosarcoma
Other Research
The Liz Clarke-Saul Fund
The Barbour Foundation
Andy's Bones Fund
Neo4J UK Ltd
Other funds restricted to research
Infrastructure Grant
Edward Cadbury Trust
Other funds restricted to infrastructure grants
Support, Information and Awareness
Takeda
James Tudor Foundation
SERB
BNA Charitable Incorporated
The Light Fund
Team TenForTen
Other funds restricted to support, information
and awareness
TOTAL FUNDS		 Incoming
resources
£
1,841,989
83,208
59,857
74,879
46,567
25,000
-
49,353
13,360
51,879
96,264
6,500
10,000
10,000
5,000
10,000
17,034
16,159
15,376
9,997
48,000
47,428
231,855
12,683
7,000
10,730
30,000
29,147
5,000
6,000
10,000
8,000
20,000
5,000
5,100
19,500
7,378
2,945,241		 Resources
expended
£
(2,540,934)
(59,585)
(19,070)
-
-
(1,832)
(17,606)
-
-
-
(145,580)
-
-
-
-
-
-
819
-
-
(52,861)
-
(204,204)
(44,409)
-
(9,975)
-
(60,226)
-
(24,000)
(10,000)
(8,000)
(20,000)
-
-
(18,344)
(8,444)
(3,244,247)		 Gains and
losses
£
186,763
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
186,763		 Movement
in funds
£
(512,182)
23,623
40,787
74,879
46,567
23,168
(17,606)
49,353
13,360
51,879
(49,316)
6,500
10,000
10,000
5,000
10,000
17,034
16,978
15,376
9,997
(4,861)
47,428
27,651
(31,726)
7,000
755
30,000
(31,078)
5,000
(18,000)
-
-
-
5,000
5,100
1,156
(1,066)
(112,243)

47

BONE CANCER RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

24. RESTRICTED FUNDS

Ewing Sarcoma

The Ewing's Sarcoma Research Trust Restricted Fund represents monies restricted for research into Ewing Sarcoma.

The Love Beth Fund represents monies restricted for research into Ewing Sarcoma.

Ellison's Fund represents monies restricted for research into Ewing Sarcoma. Frank's Fund represents monies restricted for research into Ewing Sarcoma.

Freddie's Future Restricted Fund represents monies restricted for research into Ewing Sarcoma.

The Libby's Journey of Life Fund represents monies restricted for research into Ewing Sarcoma.

The Liberty's Legacy Restricted Fund represents monies restricted for research into Ewing Sarcoma.

Fitzy's Fund represents monies restricted for research into Ewing Sarcoma.

Children with Cancer UK represents funds restricted for research into Ewing Sarcoma.

UKRI represent monies restricted to Ewing sarcoma research supporting early career researchers.

Osteosarcoma

Inman Charitable Trust - Represents funds restricted to research into Osteosarcoma.

Clive Richards Foundation - Represents funds restricted to research into Osteosarcoma and Chordoma.

Robert Luff Foundation - Represents funds restricted to research into Osteosarcoma.

Hospital Saturday Fund - Represents funds restricted to research into Osteosarcoma.

Thriplow Charitable Trust - Represents funds restricted to research into Osteosarcoma.

Sir Samual Scott of Yews Trust - Represents funds restricted to research into Osteosarcoma.

The Anthony Pilcher Restricted Fund represents monies restricted for research into Osteosarcoma.

The #BeMoreIsobel Fund represents monies restricted for research into Osteosarcoma. The Mary Collard Restricted Fund represents monies restricted for research into Osteosarcoma.

The Rhodri Jones Restricted Fund represents monies restricted for research into Osteosarcoma. The Tom Stead Restricted Fund represents monies restricted for research into Osteosarcoma. Albert Gubay Charitable Trust represents monies restricted for research into Osteosarcoma. UKRI represent monies restricted to Osteosarcoma research supporting early career researchers.

BEIS represent monies restricted to Osteosarcoma research supporting early career researchers.

Other Research

The Barbour Foundation represents monies restricted to surgical consortia.

The Andy's Bones Fund represents monies restricted for research into Chondrosarcoma.

Neo4J UK Ltd represents monies restricted for research into Chondrosarcoma.

The Liz-Clarke-Saul Fund represents monies restricted for research into Adamantinom.

48

BONE CANCER RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

24. RESTRICTED FUNDS - continued

Albert Gubay Charitable Trust represents monies restricted for research into Chondrosarcoma.

UKRI represent monies restricted to research supporting early career researchers for specified projects.

BEIS represent monies restricted to research supporting early career researchers for specified projects.

Ted’s Legacy represents monies restricted to research into paediatric bone sarcoma.

Children with Cancer UK represents funds restricted for furthering our charitable aims in paediatric bone sarcoma.

Infrastructure Grant

Edward Cadbury Trust - Represents monies restricted to the Birmingham Infrastructure Grant.

Support, Information and Awareness

Takeda - Represents monies restricted to the patient conference.

James Tudor Foundation - Represents monies restricted to the patient conference.

SERB - Represents monies restricted to the patient conference

BNA CIO - Represents monies restricted to Support Boxes.

The Light Fund - Represents monies restricted to Support Boxes.

The Team TenForTen Funds represents monies restricted to funding Support and Information.

25. RELATED PARTY DISCLOSURES

Trustees are required to disclose all relevant interests and register them with the Finance Manager and in accordance with the Charity's policy to withdraw from decisions where a conflict of interest arises.

Any individual with an interest in a matter being discussed at a meeting must declare the interest to the meeting. The chairman of the meeting will then decide whether that individual should withdraw during the discussion and, if not, whether the individual should be entitled to vote on the matter under discussion.

49