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THE LIVER GROUP CHARITY CIO
CONTENTS
Page
Reference and Administrative Details of the Charity. its Trustees and Advisers
Trustees. Report
Chalrman's Statement
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
10-17
The following pages do not form part of the statutory financial stslements..
Donations to the 'Liver for Life. appeal
18
Scientific publications and presentations
19

THE LIVER GROUP CHARITY CIO
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2023
Trustees
Dr David Holbrook Ichairmanl
Mary Collier
Susan Eggleton
Dr Martin Giles
Professor Clare Selden
Charity registered
number
1166985
Principal office
CIO Institute for Liver and Digestive Health
Royal Free Hospital Campus - University College Medical School
Rowland Hill Street
Hampslead
NW3 2PF
Patrons
Prof Sir Roger Penrose OM FRS
Kay Glendinning MBE
Accountsnts
Lubbock Fine LLP
Chartered Acwunlants & Statutory Auditors
Paternoster House
65 St Paul's Churchyar
London
EC4M 8AB
Page 1

THE LIVER GROUP CHARITY CIO
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present the annual report together with the financial statements of The Liver Group Charity CIO
for the year ended 31 December 2023. The Trustees confirm that the Annual Report and financial statements of
the Charity comply with the current slatulory requirements, the requirements of the Charity's governing
document and provisions of the Statement of Recommended Practice ISORPI, applicable to charities preparing
their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS 1021 (effective 1 January 20191.
Reference and administrative details
The Liver Group Charity CIO I'the Charity l is regISte￿d with the Charity Commission of England and Wales,
under registration number 1166985. The Charity was registered on 6 May 2016 as a Charitable Incorporated
Organisalion, and as al 30 September 2016 took over the activities and assets of The Liver Group (registered
charity number 10245331 which has subsequently been closed. The principal operab'ng address is UCL Institute
for Liver and Digestive Health, UCL - Royal Free Hospital Campus, University College Medical School, Upper
Third Floor, Rowland Hill Sl, Hampslead, London NW3 2PF.
The Trustees who served in the year (including post year end appointments I resignations) were..
Dr David Holbrook Ichaimianl
Mary Collier
Susan Eggleton
Dr Martin Giles
Kay Glendinning MBE (resigned on 25 July 20241
Prof Clare Selden
Prof Sir Roger Penrose OM FRS Patron
Kay Glendinning MBE Patron from 25 July 2024
Structure. governanco and managgmgnt
The Board of Management comprised of six Trustees and one Patron during the year ended 31 December
2023. The members are able lo draw on relevant board experience In board deliberations. The Board is
collectively responsible for the compelenl management of the organisation in accordance with its objectives
which are sel out in the Trust Deed which is the Charity's governing document. The Board meets twice a year lo
monitor the organisation's strategy and activities.
If the need arose to appoint a new trustee the remaining Trustees would identify and appoint an appropriate
person. The current Trustees are responsible for the induction of any new trustee which involves making them
aware of the Trustees, responsibilities, the goveming documents, administrative procedures and the history and
philosophical approach of the Charity-
The Charity does not have any employees and its day to day activities and fundraising efforts are carried out by
searchers from University College London, volunteers and trLJStees, under the supervision of one of the
Trustees. The Trustees have agreed a position that should any profits arise from the intellectual property in the
search being carried out by the team generally, and in conjunction with the various other parties involved in
that work, the Charity would be entitled lo a proportion of such amounts as per the Association of Medical
Research Documentation IAMRCI.
Page 2

THE LIVER GROUP CHARITY CIO
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Objectives and activities
The objects of the charity are".
1. The relief of patients suffering from disease of the liver and genetic defects affecting the liver.
2. The promotion of research into the causes and t￿atment of diseases of the liver on terms that the results of
such research are published.
3. Without p￿jUdice to the generality of the foregoing to fund and support existing and future research into
such matters at UCL Medical School (Liver Group) al the Royal Free Hospital or any other establishment
into which such unil may be amalgamated and transferred in the future.
The principal activity of the Charity currenuy is the project being conducted to develop an artificial liver. The
artificial liver project is being carried out with the funds raised for the continuing 'Liver for Life" Appeal.
All the activities of the Charity were undertaken lo further its purposes for the public benefit in line with the
Charity's long-lerm objective of providing the relief of patients suffering from diseases of the liver and genetic
defects affecting the liver, and promoting research into the causes and treatment of liver disease. The Charity
has complied with section 17 of the Charities Act 2011 having due regard of the public benefit guidance
published by the Commission.
Review of the period {including financial review)
The organisalion remains funded mainly by donations. They are a mixture of individual, corporate and charitable
trust donations. During the year external donations lotalled £11,45412022.' £40,639).
The majority of funds are spent on paying the cost of researchers, as well as the required consumables and
equipment for the research lo continue. As evidenced by the publications arising from the work, the Charity's
current aim lo develop a bio-artificial liver machine has moved forward from the medium scale to human scale,
and now on lo clinical scale, and towards readiness for a firsl-in-human trial.
The following period will see an advance to GMP manufacture, regulatory and ethics approval for a first in
human trial. Each of these steps is associated with a considerable increase in research personnel, consumable
and equipment expenditure. For 2023, expenditure lolalled £173, 189 12022.. £188,537). Except for such funds
as the TrLJStees consider prudent lo maintain for the purpose of management and administration of the Charity
for the foreseeable future, all unrestricted funds are applied for the purposes of the 'Liver for Life" project and
the general charitable objects of the Charity- The Trustees consider that £45,971 12022". £198,501) of
unreslricled reserves is more than sufficient lo fund 6 months of current operations. DLJring the period, the
Charity recorded a deficit of £154,179 12022.. deficit of £142,8551- The Charity's unrestricted fund is already
commilled to existing research.
As the bio-artificial liver project nears clinical scale and development for clinical trial, the costs are rapidly
increasing neces5ilating considerable further fund-raising.
During 2017, the Trustees, on behalf of The Liver Group Charity CIO, entered into an agreement with Liver
Health such that a proportion of any income from the sale of their drink product will be donated to The Liver
Group Charity CIO. The Trustees felt that this would be a beneficial outcome for the charity if the product is
Suc￿sSfUl. As well as proving a financial benefit, it would also raise awareness of the Charity itself and the risks
of liver disease. This ag￿ement is ongoing, although no funds have been received in 2022 or 2023.
Page 3

THE LIVER GROUP CHARITY CIO
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Achievements and performance
Research oulpul, intellectual property gained from the academic group funded by The Liver Group Charity,
and achievement of milestones towards moving the bioartificial liver project from the bench to the bedside.
Further detsils are sel out in the Chaimian's report on page 6.
Administrative charitable activities are limited to fundraising for the research endeavour. This is achieved by
written applications to known grant giving organisations, small and large companies via the CEOS or other
appropriate individual or wealthy individual donors. The Charity also has a web page with an opportunity lo
donate via Chsrities Aid Foundation. During the period from 1 January 2023 10 31 December 2023, external
income of £11,454 12022.. £40,639) was raised from donations and grants., other income of £7,556 12022..
£5,043) was generated from interest earned on cash deposits.
Indicators of achievements are Suc￿sS in the research aims and, in addition, the total fvnds raised in a
particular year. These rarely exceed our expenditure for the year.
The Charity is one of many sourcing the same research funding,. given the diffi'cult position most UK
universities find themselves in, there is increasing competition for funds. Until government resources fill the
gap be￿een the costs and current funding of medical research the Charity's efforts will become more
difficult each year. NO￿lthStandIng this difficult climate, and the re￿nt world events having a considerable
negative effect on possible fundraising activities the Charity continues to explore every avenue to increase
funding from grants and donations.
The impact of the Pandemic even in 2023.. The Pandemic has indeed thrown LJP several challenges, both
direct to the Charity in terms of making fundraising a lol more difficult, since we were still unable to hold any
actual in person fundraising events in areas where likety donations would be forthcoming e.g. hospital
foyers etc., nor had volunteers lo organise sponsorship opportunities. We continue our strategy of
approaching small trusts by mail with reasonable Suc￿ss, and our social media pages are also a source of
fundraising, however, the income in 2023 was considerabty less than the expenditure in that year, and
judging by the current situation will not be significantly different in 2024. This has precluded the Charity from
providing a PhD sludentship for any new student as the existing sludenl finished in eady 2022.
Whilst the research funded by the Charity has returned to practical endeavour in the laboratory, the
opportunity to fund fewer researchers is limiting. It has, however, continued as best as possible, with much
analysis, input to regulatory documenlab'on and small scale experimental work.
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the Charity has adequate
resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt
the going concern basis in preparing the financial slatemenls. Further details regarding the adoption of the
going concern basis can be found in the Accounting Policies.
Risk management
The Trustees confirm that there are ongoing processes for identifying, evaluating and managing significant risks
faced by the organisation.
Plans for futurg Pgriods
The Charity aims to continue its medical research goals, al a pace commensurate with funding opportunities.
With appropriate funding, it sees the biwrtificial liver machine project reach the Clinical trial assessment within
five years.
Page 4

THE LIVER GROUP CHARITY CIO
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Statement of Trustees, responsibilities
The Tmslees are responsible for preparing the Trustees, Report and the financial statement in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
The law applicable lo charities in England & Wales reqUI￿S 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
sources and application of ￿soUrceS of the charity for that period. In preparing these fi'nancial stslemenls, the
Trustees are required lo".
select suitable accounting policies and then apply them consislenily.,
observe the methods and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudent",
slate whether applicable accounting stsndards have been followed, subject to any Material departures
disclosed and explained in the financial slalemenls.,
prepare the financial statements on the going concern basis unless il is inappropriate to presume that the
Charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at
any lime the financial position of the charity and to enable them to ensure that the financial slalements comply
with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations 2008 and the
provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking
reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the Maintenan￿ and integrity of the Charity and financial information included
on the Charity's website. Legislation in the United Kingdom governing the preparation and dissemination of
financial statements may differ trom legislation in other jurisdictions.
This report was approved by the Trustees and signed on their behalf by..
Dr Martin Giles
(Trusteel
Dale".
24 Octobe r 2024
Page 5

THE LIVER GROUP CHARITY CIO
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023
The chairman presents his statement for the Year.
Despite another difficult fundraising environment for both the charity and the research sectors it has been
another year of significant progress for the project which the Charity funds. Professor Clare Selden and her
team al University College London IUCLI have continued lo advance the Hepatican TM Project.
A noteworthy achievement was re￿Iving the endorsement of the Cell and Gene Therapy Catapult ICGTCI
through a £50,000 Commercialisalion of Research Award, which involved significant levels of due diligence and
peer review, as well as endorsement of the commercial potential for the projecL Furthermore, the CGTC has
agreed to help find further investors for the project.
On the technical front, the workstation is now complete and despite some initial electronic glitches has now
achieved 1000/0 success on its regulatory tests lo date. Work conlinLJes on cell recovery rates after
cryopreservation, with current progress sufficient for patient treatment. The same is true of stability and sterility
studies. The team under Professor Selden should be congratulated on this progress over the year.
Looking ahead, the Charity is committed to helping in the translation of liver research to the patient, and its
primary and sole focus at present las peer reviewed) is to continue to support the artificial liver project at UCL.
As the project morphs from a research project lo a development one this changes the landscape of available
sources of funding for the project, from academic grants and charitable donab'ons lo more commercial sources
such as venture capital and other forms of investment which seeks a financial return.
Accordingly, Professor Selden has given noliee to the Charity that she now owns the inlelleelual property
relating to the project by way of an assignment agreement with UCL Business and a new palenl in her name
8nd intends lo commercialise Hepatican TM through a company vehicle. Negotiations will take place at arm's
length with Professor Selden to ensure that the Charity receives a fair apportionment of any commercial upside
which could possibly ensue from the commercialisalion of the intellectual property which the Charity- along with
other bodies- has helped to fund.
This could, inter alia, include the Charity receiving future payments on the achievement of agreed commercial
milestones, royalties, and potentially an equity stske in the company itself. I shall report on progress on this
matter in my next Chairman's Statement.
In all these mallers the Trustees are mindful to manage any possible conflicts of interest be￿een Professor
Selden in her capacity as an academic receiving funding from the Charity, a founder of a spin-out company
established to commercialise Hepalican Thl for patient Irealmenl, and as a Trustee of the Charity. The Trustees
have, and will continue lo seek, the advice of the Charity Commission on these issues and have adopted the
broad Conflict of Interests policy of the British Heart Foundation as an example of best practi￿.
Special thanks are due lo all the volunteers, fundraisers, Trustees and scientifi'c researchers and support staff
who make this Charity possible. This year, special thanks are due lo the research team of Eloy Erro, Tom
Brookshaw and Sherri Chalmers and our completed apprentice Rosa French who we wish well for the future.
The board of Trustees have as ever been a great help and special thanks go lo Dr. Martin Giles for his work on
financial and risk management matters, Mary Collier on legal issues, and Sue Eggleton for her accounting
expertise.
Dr David Holbrook
Chairman
Dale..
24 October 2024
Page 6

THE LIVER GROUP CHARITY CIO
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
Independent Examiner's Report to the Trustees of The Liver Group Charity CIO I'the Charity.)
I report to the charity Trustees on my examination of the accounts of the Charity for the Year ended 31
December 2023.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordan￿ with the
requirements of the Charities Act 2011 I'lhe 2011 Act'i.
I report in respect of my examination of the Charitys accounts carried out under section 145 of the 2011 Act and
in carrying out my examination I have followed the applicable Directions given by the Charity Commission under
section 14515llbl of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no material matters have eome lo my attention in connection
with the examination giving me eause to believe that in any material respect".
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act," or
the accounts do not accord with those records,. or
the accounts do not comply with the applicable ￿quirementS concerning the form and eonlent of
accounts set out in the Charities IAccounts and Reportsl Regulations 2008 other than any requirement
that the accounts give a 'lrue and fair, view which is not a matter considered as part of an independent
examination.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts lo be
reached.
This report is made solely lo the Charity's Trustees, as a body, in accordance with Part 4 of the Charities
(Accounts and Reportsl Regulations 2008. My work has been undertaken so that I might slate lo the Charity's
Trustees those matters l am required lo stale to them in an Independent Examiner's Report and for no other
purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
the Charity and the Charity's Trustee5 as a body, for my work or for this report.
PA¥41
Hazra Patel. ACA
Lubboek Fine LLP
Chartered Accounlanls & Slatulory Auditors
Palernosler House
65 St Paul's Churchyard
London
EC4M 8AB
Dale..25 october 2024
Page 7

THE LIVER GROUP CHARITY CIO
STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Total
funds
2022
Note
Income from..
Donations and legacies
Investments
1,454
7,556
10,000
11,454
7,556
40,639
5,043
Total income
9,010
10,000
19,010
45,682
Exponditure on..
Charitable activities
161,540
11,649
173,189
188,537
Total expenditure
161,540
11,649
173,189
188,537
Net movement in funds
1152,5301
11,6491
1154,1791
1142,8551
Reconciliation of funds:
Total funds brought forward
Nel movement in funds
198,501
1152,5301
10,000
11,6491
208,501
1154,1791
351,356
1142,8551
Total fvnds Carried forward
45,971
8,351
54,322
208,501
The Statement of Financial Activities includes all gains and losses recognised in the Year.
The notes on pages 10 to 17 form part of these financial statements.
Page 8

THE LIVER GROUP CHARITY CIO
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2023
2022
2022
Note
Current assets
Debtors
Cash at bank and in hand
7,002
168,606
7,485
295,388
175,608
302,873
Creditors". amounts falling due within one
year
1121,2861
194,3721
Net current assets
54,322
208,501
Total net assets
54,322
208,501
Charity funds
Reslricled funds
Unreslricled funds
8,351
45,971
10,000
198,501
Total funds
54,322
208,501
The fuures shown in brackets above represent amounts paygble by the Charity 8s at 31 December.
The financial ststements were approved and authorised for issue by the Trustees and signed on their behalf by".
D IV-Y-
Or Davld Holbrook
Chairman
Dale..
24 October 2024
The notes on pages 10 to 17 form part of these financial statements.
Page 9

THE LIVER GROUP CHARITY CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention with items
recognised at cost or transaction value unless otherwise staled in the relevant notes to these
accounts. The financial statements have been prepared in accordance with the Statement of
Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
1021 and Financial ReFlOrting Standard applicable in the United Kingdom and Republic of Ireland
IFRS 1021 effective 1 January 2019 and Charities Act 2011.
The Liver Group Charity CIO meets the defi'nition of a public benefit entity under FRS 102. Assets
and liabilities are initially recognised at historical cost or transaction value unless otherwise ststed in
the relevant accounting policy.
1.2 Going concern
The charity is mainly reliant upon donations lo raise revenue to meet future expenditure. The
Trustees consider that il is appropriate to prepare the fi'nancial statements on a going concern basis
due to the level of reseNes held. This also assumes that the charity will be successful in its
fundraising aclivilies. The financial statements do not include any adjustments that would result if
insufficient funds are raised.
1.3 Income
All income is recognised once the Charity has entillemenl lo the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the lime the investment
income is receivable.
1.4 Expenditure
Expenditure is recognised once there is a legal or Constructive obligation lo transfer economic
benefit to a third paty, Il 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 Classified by
activity. The costs of each activity are made up of the total of direct costs and shared costs,
Including support costs Involved in undertaking each activity. Direct costs attributable lo a single
activity are allocated directly lo that aclivily. Shared costs which contribute to more than one activity
and support costs which are not attributable lo a single activity are apportioned be￿een those
activities on a basis consistent with the use of resources.
Charitable activity costs are costs incurred on the charity's operations, including support costs and
costs relating to the governance of the charity-
Expenditure on charitable activities is inCUr￿d on directly undertaking the activities which further the
Charity's objectives, as well as any associated support costs.
All expenditu￿ is inclusive of ir￿cOVer8b1e VAT.
Page 10

THE LIVER GROUP CHARITY CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies (continued)
1.5 Interest receivable
Interest on funds held on deposit is included when r￿1Vable and the amount can be measured
reliably by the Charity,. this is normally upon notification of the interest paid or payable by the Bank.
1.6 Debtors
Trade and other debtors are recognised al the selllement amount after any trade discount offered.
1.7 Cash at bank and in hand
Cash al bank and in hand includes cash and short-term highly liquid investments with a short
maturity of three months or less from the date of acquisib'on or opening of the deposit or similar
aceounl.
1.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet dale as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the
amount of the settlement can be eslimaled reliably. Liabilities are recognised at the amount that the
company anticipates it will pay lo settle the debt or the amount il has received as advanced
payments for the goods or services it must provide. Provisions are measured al the best estimate of
the 8mounts required lo setue the obligation.
Trade and other creditors are ￿CognISed al the settlement amount after any trade discounts
received. Accruals are value based on the estimated amount to be paid.
1.9 Flnanclal Instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured at their selllemenl value with the exception of bank loans which are
subsequently measured at amortised cost using the effective interest method.
1.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Reslricled funds are funds which are to be used in accordan￿ with specific restrictions imposed by
donors or which have been raised by the Charity for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each reslricled
fund is sel out in the notes to the financial statements.
1.11 Donated goods and servicos
The Charity does not value donated services in the accounts. servI￿s that are received, such as
volunteers, time and the use of the laboratory Spa￿ at University College London are either deemed
not lo be material or too onerous to value for a charity of this size.
Page 11

THE LIVER GROUP CHARITY CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Income from donations and legacies
Unrestricted Restricted
funds
funds
2023
2023
Total
funds
2023
Donations
1,454
10,000
11,454
Unrestricted Restricted
funds
funds
2022
2022
Total
funds
2022
Donations
30,639
10,000
40,639
Investment income
Unrestricted
funds
2023
Total
funds
2023
Bank Interest
7,556
7,556
Unrestricted
funds
2022
Total
funds
2022
Bank Interest
5,043
5,043
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted Restricted
funds
funds
2023
2023
Total
2023
Charitable costs
161,540
11,649
173,189
Page 12

THE LIVER GROUP CHARITY CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of expenditure on charitable activities (continued)
Summary by fund type Icontinuedl
Unrestricted
funds
2022
Total
2022
Charitable costs
188,537
188,537
Analysls of expendlture by actlvltles
Aetlvltles
undertaken
directly
2023
Support
costs
2023
Total
funds
2023
Charitable costs
168,674
4,515
173,189
Activities
undertaken
directly
2022
Support
costs
2022
Total
funds
2022
Charitable costs
185,346
3,191
188,537
Page 13

THE LIVER GROUP CHARITY CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of expenditure by activities (continued)
Analysis of direct costs
Total
funds
2023
Activities
2023
Palenl costs
11,649
157,025
11,649
157,025
Researchers (costs paid lo UCLI
168,674
168,674
Total
funds
2022
Activities
2022
Researchers (costs paid lo UCLI
185,346
185,346
Analysis of support costs
Totsl
funds
2023
Activities
2023
Accountancy fee
Sundry expenses
Independent examination fees {governancel
Bank charges
2,900
36
2,900
36
1,000
579
1,000
579
4,515
4,515
Total
funds
2022
Activities
2022
Accountancy fee
Independent examination fees Igovernancel
Bank charges
1,650
750
791
1,650
750
791
3,191
3,191
Page 14

THE LIVER GROUP CHARITY CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
staff costs
The Charity had no employees during the period but supported the costs of researchers who are
themselves employed by University College London.
The average monthly number of UCL employees supported by The Liver Group Charity CIO during the
period was 4. At the period*nd there were 4 employees of UCL working on The Liver Group Charity CIO
fvnded research.
During the period, a number of volunteers gave their time lo assist the Charity. No remuneration, other
than travel expenses lo and from the place of work, were paid to them and the Charity thanks them for
their generosity.
The Trustees did not receive any renumeration, benefits in kind and reimbursement of expenses 12022".
Debtors
2023
2022
Due within one year
Other debtors
Accrued income
48
6,954
7,485
7,002
7,485
Creditors.. Amounts falling due within one year
2023
2022
Amounts due to UCL
Accruals
118,286
3,000
92,272
2,100
121,286
94,372
Page 15

THE LIVER GROUP CHARITY CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Statement of funds
Statement of funds- current Year
Balance at
31
December
2023
Balance at 1
January
2023
Income Expenditure
Unrestricted funds
General Funds
198,501
9,010
1161,5401
45.971
Restricted funds
Palenl costs
10,000
10,000
111,6491
8,351
Total of funds
208,501
19,010
1173, 1891
54,322
The restricted fund was contributed to be used lo cover palenl costs.
Statement of funds - prior Year
Balance at
31
December
2022
Balance at
1 January
2022
Income Expenditure
Unrestricted funds
General Funds
351,356
35,682
1188,5371
198,501
Restricted funds
Palenl costs
10,000
10,000
Total of funds
351,356
45,682
1188,5371
208,501
Page 16

THE LIVER GROUP CHARITY CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
10. Analysis of net assets between funds
Analysis of net assets between funds - current year
Unrestricted Restricted
funds
funds
2023
2023
Total
funds
2023
Current assets
Creditors due within one year
167,257
1121,2861
8,351
175,608
1121,2861
Total
45,971
8,351
54,322
Analysis of net assets between funds - prior year
Unrestricted Restricted
funds
funds
2022
2022
Total
funds
2022
Current assets
Creditors due within one year
292,873
194,3721
10,000
302,873
194,3721
Total
198,501
10,000
208,501
11. Related party transactions
Donations from trustees lotalled £10,00012022 - £10,000) during the year.
At the year end, an amount of £48 was due from a Iruslee12022 - £nill.
There were no other related party transactions during the current year or prior year.
Page 17

_**We would also like to thank those who have donated anonymously.**_ 



The Liver Group Charity CIO
Publications arising from the work funded by the Liver Group Charity in 2023
Microplastlcs and nanoplastics in haemodialysis waters: Emerging threats to be in our radar
Passos, RS- Davenport, A- Busquets, R- Selden, C- Silva, LB,. Baptista, IS,. Barcelo, D,.120231
Environmental Toxicology and Pharmacology , 102 , Article 104253. 10.10161i.etap.2023.104253.
Green open access
2. UK Patent filed June 2023 Application reference no. J113931GB- Bioartificial Liver
3. Four papers in preparation for submission 2024 now the patent has been filed