Charity no. 1176160 The Little Princess Trust Report and Audited Financial Statements 31 July 2024 The Little Princess Trust Reference and administrative details For the ear ended 31 Ju 2024 Charity number 1176160 Registered office and operational address The Hannah Tarplee Building 22-25 Berrington Street Hereford Herefordshire HR4 OBJ Trustees The trustees who served during the year and up lo the date of this report were as follows.. Timothy Wheeler, Chair Emma Corbett Alison Goodwin Timothy Lowe Dr Francis Mussai Caroline Shallow Simon Tarplee Mark Vickress Richard Wells Chief executive officer Philip Bra Key management personnel Philip Bra￿, Chief Executive OffI￿r Adam Houchen, Head of Operations Wendy Tarplee-morris, Director of Services and Impact Nadine Schofi'eld, Finance Manager Bankers Natwest 12 Broad Street Hereford HR4 9AH Investment managers Brewin Dolphin 2nd Floor st James House St James, Square Cheltenham GL50 3PR LGT Veslra Fourteen Cornhill London EC3V 3NR Audltors Godfrey Wilson Limited Chartered accountants and ststulory auditors 5th Floor Mariner House 62 prin￿ Street Bristol BS14QD The Little Princess Trust Report and Audited Financial Statements The Chair and Chief Executive Reflect on the Year Improvingthe ways in which we help children with cancer This year has been one in which great progress has been made across all areas of the charity. Now happily settled within our new headquarters, The Hannah Tarplee Building.. the past 12 months have provided us with a period of stability and given us the foundations to review each section of the charity. W¢ hav¢ thus bcen able lo id¢ntify areas Wh¢￿ we could develop and introduce ¢￿1¢1¢neI¢S to further iinprove our services for children and young people with cancer. Although there is not one single dominating headline, this has still been a very busy and productive year, with many highlights and moments to treasure and remember. The challenge this year is, therefore, selecting which aspects of our work deserve particular praise and attention over others when we have received so tnany plaudits from people we have worked alongside and so many ii)cssag¢s of thank5 froin Ihosc who liavc bcncfitcd froin our wig provision scrvicc and Lhildliood cancer research funding. It is, we b¢li¢ve, a sign of the confid¢n¢¢ and trust that the piibli¢ haq in our approach as a ¢harity' that our income rose by 40% in spite of a cost-of-living crisis coupled with high levels of inflation. We are continually grateful for the simply astonishing support that we receive. Tl)is income is, of course, vital because The Little Princess Trust's funding model is based almost entirely on donations from the public to fund our free wig provision service our support for childliood ¢ancer resear¢h. The Little Princess Trust Report and Audited Financial Statements We are always cautious when presenting the number of young people we have helped with a wig in the knowledge that, behind the raw statistics. there are children and fan)ilies facing imii)ense challenges. However, as our mission is to offer a free, real hair wig to every Child or young person experiencing hair loss due to cancer tr¢atiii¢nt, it is reassuring to knoiv that the number of wigs providcd in the past 12 Inonths was among thc highcst wc havc recordcd. In total, there were 1,910 wig referrals this year, and we know from speaking to wig recipients just how much this free service provides comfort and support al what can be an incredibly challenging time in a young person's life. Our free wig provision service is our number one priority and it gives us great satisfaction to know that thc hard work ¥oing on b¢hind thc sccncs is having such a si¥nificant impact. We know, for example, that our new, wig collection brochures- complete with pmfessional photographs of models wearing our wigs- are having a positive impact on showing young people the type of free support we can offer. This new addition to our marketing collateral has seen the number of boys receiving a wig rise to a record number and led to a sizeable drop in the number of coininercial wigs we have needed to provide. To maiiilain the higliesi standards within our wig provision s¢rvi¢e, iinproved links have been made with our overseas wig fitters. In the UK, increased communication with the Inany fantastic hairdressers who support the charity has seen a decrease in the number of shorter hair donations and a rise in the percentage of longer lengths of hair, which are needed to help us meet the demand for our longer wigs. Our constant dialogue with our kcy part]icrs has also sc¢n a risc in tlic percentagc of hair donations that are accompanied by fui)draisii)g, and this has ensured we can contiiiue lo support those from the world of childhood cancer research searching for kinder and more effective treatments for all childhood ¢anc¢rs. Recognition of The Little Princess Trust's growing reputation within the world of childhood cancer The Little Princess Trust Report and Audited Financial Statements research ￿'aS in evidence when m-.e i¥ere highly commended at the Third Sector Awards for our collaboration with the Children's Cancer and Leukaemia Group (CCLG). With input from The Little Princess Trust co-fouiider. Wendy Tarplee-MoTI'iS, Trve lead on many activities within the world of childliood cancer research. W¢ are Inore active than ever b¢forc, and w'e are now sceing our objcctivc of grcalcr Icvcls of collaboration within thc world of rcscarch coinc to fruition. We continiie to operate our project grant rounds and New Ideas round whilst alTha)'s maintaining a position of being opportunity driveii and of being proactive on recognising funding gaps. Scientific excellence, of course, remains essential and our approach sits alongside a clear burden of responsibility to ensure that our funders, tnoney is spent appropriately and that we fund. through thorough analysi5, the best research and activities possible that ivill lead to detnonstrable iiiipact. Th¢ proj¢¢l lo endow a professorial post of pa¢dialri¢ on¢ology al Oxford Uiiiversily h8s made great progress and we are eagerly anticipating the launch of this position at one of the most respected academic institutions in the world. Other highl]￿tS from a year of research include our funding partnership of the Experimenlal Cancer Medicine Centre Network (ECMC) entering its second year. It has beeii a real privilege to visit so tnany of the centr¢s Wlthin the progratlltnc and wc are continually discussin¥ itnprovcinents and working to ensure our objectives are mel. These advances in our funding of childhood cancer research, coupled with the improvements made to our wig provision service, demonstrate another year of growth, development and advance for the charity. underlining our commitment to fulfil our vision lo give Hair and Hope to every child and young person with cancer until there is no longer a need for what we do. This year of progress and development has seen considerable lime spent on ensuring that we are operdtionally efficient, on training our staff and on reinforcing the message that our values are c¢ntral to all that we do. The Little Princess Trust Report and Audited Financial Statements We recognise and very much appreciate the trust that the public, health professionals: families, supporters and the children and )'oung people Th'e support, have in charity - and we remain highly focused on ensuring that this trust is alivays fully deserved. It has once again been an exciting year and it is, as ever. a privilege lo k a part ot The Little Princess Trust. Tim WheoLor- Chair of Tru$t0e¥ Philip Br•co- CEO The Little Princess Trust Report and Audited Financial Statements Objeclives and Activities Objectives and Activities The Little Princess Trust seeks to improve the life of every Child and young p¢rson wilh can¢¢r. The charity's primary objective is to give real hair wigs, free of charge, to every Child or young person experieiicing hair loss due to cancer treatmeiit. The charily also provides wigs in the UK and Ireland to those who have suffered hair loss due to other conditions and continues to explore ways to extend the provision of its service for children with cancer in countries outside th¢ UK, wh¢re there is no servi¢¢ available. The charity works with specialist suppliers and experienced wig fitters to offer wigs tailored to the individual child or young person's needs that give the closest appearance to their original hair. The charity puts parcnts and carers in contact witli wig fittcrs as local to ihcm as possible to ensur¢ the young person does not have to travel any further than necessary for their wig fitting. Parenls or carers can contact the Charity Ilieinselves or, alternatively, the child's treatment centre can make the initial contact with The Little Princess Trust. The charity arranges for the manufacture of its own range of wigs froni donated hair. However, if the charity does not have a wig suitable for a child or young person with cancer. it will purchase one from a commercial supplicr. In additioii lo wig provision, Ihe ¢harils' is ¢oinmitl¢d lo funding vilal r¢s¢ar¢h whi¢h aims to d¢liv¢r more eff¢ctive and kinder treatments for all ¢hildhood ¢anc¢rs. The Chariiy invites applications for funding from academics and institutions involved in researching the causes of paediatric cancer. The charity engages with the Children's Cancer and Leukaemia Group (CCLG) to facilitate this process under guidelines from the Association of Medical Research Charities (AMRC). The Little Princess Trust Report and Audited Financial Statements Objeclives and Activities The Trustees have paid due regard to the Charity Commissioners, guidance on public benefit in deciding wl)at activities are undertaken to further the charity's charitable purposes for the public benefit. The Little Princess Trust Report and Audited Financial Statements Achievements and Performance Achievements and Performance The wig provision service "Beingj'oung, there is so mucli pressure on the way yott look olrL)ody Lind]illing o mottld- when yott lose yc)ur huir yc)u dr)FF Ifzl Mc?uld. "lulivu)Js wore my Mjig,. Thul HAa.s my.5afLly ptL)l undI cannol emphasise the difference il made to my life. "Huving li hL reul huir und nc)t.iJnihe¢ic' M'll.% ul.5(? amazing because it meant Icoz41d slraightep7 and L"url iljust as I wotsld'vL done ust¥ally]or my hoir." Laurell Hickinbottom The Little Princess Trust's key objective is lo provide free, real hairwigs to children and young people who have lost their hair due lo caneer treatment. Our free wig provision service is undetpinned by three tnain goals= to be accessible. sensltive and simple. Great efforts have been made by the wig referrals team to meet these key targets and ensure our service gives children and young people the best available replacement for the hair they have lost while making the process of requesling a ivig as straightforward as possible. The Little Princess Trust Report and Audited Financial Statements Achievements and Performance The logistics of providing almost 2,000 wigs each year to young people undergoing personal challenges involves n)any individuals and varied institulions, and a constant presence from the past 12 months has beei) a desire to tllake improvemei)ts, 110 matter how small, to ensure our service is ther¢ for every child who has lost tlicir hair duc to cancer trcattllcnt in the UK and Ireland. This means that training has b¢¢n given, visits lo hospitals and wig firt¢rs hav¢ b¢¢n mad¢ and work has taken place with the charity s marketing team to improve communication to all those involved in the provision of wigs. The result of this work saw 1,91 O wig referra15 in the past 12-month period. This is the second highest number in The Little Princess Trust's history and only 21 below the record number of 2022123. Year Total number of WIE referrals 2023124 1,910 2022123 1,931 2021122 1,747 2020121 1,769 2019120 1,614 2018119 1,523 Allfigures Lover u 12-htonih perioJfrom l Attgttsl lo 31 j￿ly. Drop in use of commercial wigs The Little Princess Trust's wig referrals team will always try to provide a child or young person with a wig that closelj. resembles the hair tliey lost before they began cancer treatinent. The Little Princess Trust Report and Audited Financial Statements Achievements and Performance On occasions. due to the length or colour of the wig being requested. the charity does not have an available wig within its own stock to match the request [￿ing Inade by the child or young person. When this happens, thc chaTity can ordcr r¢al-hair wigs froin a cointnercial supplier to fulfil thc child or young pcrsoll's requcst. Hoi¥ever, the priority is always to supply wigs made from hair donated by Little Princess Trust supporters and knotted by the charity's otrieial suppliers. It was very pleasing. therefore, to see a substantial rise in the percentage of wigs being supplied frotn The Little Princes5 Trust's own stock and wig-knotting partners. Th¢ total stood al 96Q/o, up from 840/0 in 2022123 and 93 % in 2021122. Cominer¢ial wigs had p¢ak¢d at 16 % the previous year, primarily due to the knock-on effects of the Covid-19 pandemic at the charity's overseas wig manufacturers and so it was pleasing to see a significant fall in the percentage of commercial wigs supplied this year. The installation of the Dynamics CRM system ha5 helped with the tllanageiiient of the wig stock and, coupled with incrca5cd wigs arriving frotn the charity's own supplicrs, has h¢lpcd to rcducc costs asso¢ialed with th¢ pur¢hasing of commer¢ial wigs. Percentage of boys receiving wigs continues to rise As part of ils mission to provide wigs to children and young people with hair loss, Ihe wig referrals department has several key objectives to ensure the charity's wig provision service is fully inclusive. One aiiT] is to cnsure that all genders arc aware that the charity's wig provisioii service is available to thetn and great eftorts have been made to comtnunicale this to hospital staff and all key partners. 10 The Little Princess Trust Report and Audited Financial Statements Achievements and Performance A common misconception is that the charity"s wigs are 'only available for little girls, and so the wig referrals teams were pleased to see the percentage of boys receiving a M'ig rise to l O % of all w'ig recipiei)ts ihis year. This was up from 80/0 Ill the previous 12 moi)ths and 7% ii) the year before that. Th¢ charity's COlMTnunications tcam will continue to promote thc fad that thc free wi¥ provision s¢rvi¢¢ is available 10 all g¢nd¢rs. Launch of wig collection brochure Research carried out by the wig referrals team shows that the young people receiving wigs find out about The Little Princess Trust from a diverse range of sources such as the charity's website, other charities, hospital literature and hair professionals. Great efforts are, therefore, Inade lo eiisure the information being passed on to young people by the charity's partncrs and third-party orga]iisations is consiSt¢nt and correct. One way to help achieve this is to produce printed products which convey the charity's aims Émd goals and this year saw two substantial books added to The Little Princess Trust library. The 24-page Wig Collection brochure features professional photographs showing young tnodels wearing Little Princess Trust wigs and is an excellent tool to show children the quality of the wigs that are frc¢ly availablc to thcm. It also contains key information on how to tneasure one's head and how to request a wig. The glossy bro¢hure has be¢n distributed lo the ¢harity's a¢¢r¢dited wig-filting salons and helps salon staff respond to many of the frequently asked queslions posed by future wig recipients and their families. The Little Princess Trust Report and Audited Financial Statements Achievements and Performance Models volunteered their time to take part in a professional photo shoot at the Hannah Tarplee Building and images from this da). featured in the magazine. Thc photographs from that Shoot have also been utilized to great effect by the charity's social media to promot¢ its frcc wi¥ provision scrvicc. More guidance is given to these key partners that are a vital part of the charity's wig provision service in another brochure entitled the 'Wig Fitter Handbook, This contains information on service standard agreements, invoicing and what is required for wig fitters to become a gold-accredited salon. Extra help for hospital staff A total of 47 % of wig recipients in the past year said they requested a wig after either reading a hospital leaflet/card (210/0) or being referred directly by hospital staff (260/0). This valuabl¢ f¢¢dba¢k uiid¢rlines the important rol¢ hospitals and Ih¢ir staff - play in letting children and young people know about the charity's free ￿'1g provision service. Leaflets and lenticular cards had, in previous )'ears, been designed by The Little Princess Trust's communications team to assist nurses in passing on the charity's key tnessages of how to request a wig. To make the job of hospital staff easier, new toolboxes were purchased to ensure that all the charity's marketing products could be securely stored in one place. Seventy-tive boxes were this year delivered to hospitals around the UK containing leaflets, booklets, posters and small charity promotional products to increase The Little Princess Trust"s presence within hospital settings. 12 The Little Princess Trust Report and Audited Financial Statements Achievements and Performance Neiv items sveh as playing cards and soft beanie hats, have also been designed and produced this year to be included in the toolkit boxes. Building stronger links with our key partners Although not dircctly cinployed by The Little Prillc¢5s Trust, hairdresscrs and wig fitters work very c105ely with the charity as part of the wig provision setvice. They ¢ome into ¢onla¢t with young people r¢c¢iving wigs and th¢ man), kind p¢opl¢ donaring their hair and so it is vital that the! have knoTh'ledge of th¢ ¢harity's working pro¢edures so that any communication passed on is correct. Printed leaflcts and emailed corrcspondcnce arc an excellcnt way to Inaintaill good lines of comniunicalion but the charity also Strongly believes iii face-to-face visit5. To help build new ¢onta¢ls with hair professionals and improve coininunication with its Inany partners. th¢ ¢harity's salon r¢lationship ¢o-ordinator visited 4? locations around th¢ ¢ounlry ihis year. In addilion to this, the Wig Referrals Team organised two wig fitters, workshop days at the charity's headquarters in Hereford. Wig fitters from around ihe counlry attended to hear the latest news, see wig-knotting demonstrations and ask any questions about The Little Princess Trust's service. P¢rsonal visits w¢re also Carried out by th¢ d¢partment's Charity Ouir¢a¢h Repr¢senlalive who went to 83 hospitals in the UK in the past 12 months. 13 The Little Princess Trust Report and Audited Financial Statements Achievements and Performance International wig referrals continue to rise The charity has, sin¢¢ 2019, followed a poli¢y to help childr¢n who have losi their hair due to ¢an¢¢r treatment and live in countries with no wig provision. Partnerships were previously established in Sweden, Germany, Portugal and Bulgaria - and the past year saw docuincnts signed with an official wig-fitting partner ill Slovcnia. A trip to the country to fiiialize details and ensure quality control also saw Phil Brace, CEO of The Little Prin¢ess Trust, and Wendy Tarple¢-Morris, Director of S¢rvi¢¢s and Impa¢l, inlervi¢w¢d on live television in Slovenia. Further links were made with the Cutters salon in Sweden who. as well as collecting hair donations for the cliarity, begaii publicising thc fact that The Little Princess Trust's free wig provision service was freely available in the Scaiidinavian country- L¢aflels w¢re translated into Swedish and r¢suli¢d in the number of wig ref¢rrals rising from 2 10 8 in Sweden. Little Princess Trust leaflets were also translated inlo Portuguese to help publicise the availability of the wig provision service in Lisbon and Porto. A visit frotn the charity, whicl) involved a meeting witl) the Portuguese children's cancer charity, Aereditar, also built on already strong links in the Iberian country. Efforts with our key partners overseas saw the number of intemational referrals rise from 123 in 2022123 to 152 in 2023124 and this 12-month period also saiy the first wigs sent to children and young people in Australia, Spain and Italy. 14 The Little Princess Trust Report and Audited Financial Statements Achievements and Performance Achieving the charity's key objective While th¢ total number of wig ref¢rrals f¢ll by 21 from the pr¢vious 12 months, the number of new cancer referrals did rise b). 39 from the past year. Providing wigs to children and young people who have lost their hair due lo cancer treatment is the charity s number one obj¢ctiv¢. While the charitj does also make its wigs available lo young people who have lost their hair to other conditions, s¢eing the total nuniber of n¢w canc¢r referrals rise from 1,026 10 1,065 show¢d that the diligent work promoting the ¢harity s free wig s¢rvi¢¢ in so many different ar¢as and ivays was working. This wa5 further underlincd by the fact that the charity received 200 wig refcrrals in July 2024- that figure 15 Ihe hiOiest nutnber of referrals in a single monih in the charil), s 19-year history. 'Delivering the best service possible, Wendy Tarplee-morris, The Little Princess Trust's Director of Services and Imp*¢t, reftlects on a year of progress for the wig referrAls team One of the original aims of The Little Princess Trusl was to make the process of requesting a wig an easy aiid sitnple one for every prospective wig recipient. This has been a constant over the years and remains an absolute priority. The experience of requcsting a wig from the ¢haritsw is as siiiiple 8$ it possibly can be for ¢hildren and young people with ¢ancer, with no forms to complete, no means testing and most importantly no questions over acceptance and eligibility. 15 The Little Princess Trust Report and Audited Financial Statements Achievements and Performance Hoi¥ever, in the background things have continually evolved, developed and improved to make that service better and better. Thc new a5SCts which have been created. such as tlie Wig Collection Brochur¢ and Wig Fitter Handbooks havc bccn a great dcvclopmcnt this year as thcy highlight just how accessible and allra¢tiv¢ our s¢rvi¢e is lo pot¢nlial wig r¢¢ipi¢nts. Both products contain professional images of voung models wearing wigs and give greater assurances of what ean be achieved through our free wig provision service. We have also continued to work closely with our wig fitters through site visits while we also hold group workshops at our hcadquartcrs. Furthermore, in the next financial year, the Salon Relationship Coordinator will become a full-time role to manage and visit all wig fitters within our network to promote the best practice of our service. The handbook, which was completed this year. will be an excellent tool for the Salon Relationship Coordinator as it provides easy to follow. engaging content clearly outlining our service expectations for our accrcditcd wig fittcrs and what thcy can expcct froTn us in return. It also includcs all tcrms and conditions in a dig¢stibl¢ fomiat, in¢luding th¢ signing of th¢ essential coinpliance agre¢m¢nrs. All these improvements ensure we are delivering the best and mosl consistent service possible, without making it any more diificult for our wig recipients. 16 The Little Princess Trust Report and Audited Financial Statements Supporting Childhood Cancer Research Supporting Childhood Cancer Research Reputation and influence continueto grow The last 12 months highlighted once again The Little Princess Trust's vast commitment to childhood cancer research. More than £5.9 million was given to fund scientists seeking to find kinder and tnore effective treatment for childhood cancers. This was the fourth ¢onsecutiv¢ year thal lh¢ ¢harity has coinmitl¢e more rhan £5million to r¢s¢ar¢h and means that, since 2016 when The Little Princess Trust first began funding scientists, the total amount has surpassed £33 million while the total number of individual projects supported stands at 141. Year Total glven to chlldhood cancer research 2023124 £5.9m 2022123 £6.6m 2021122 £5.9m 2020121 £5.8tll Allfigures cover a 12-monih periodfv)Fn J A￿A￿ls[ to 31 July. The charity is repeatedly being told by scientists that the support provided by The Little Princess Trust is becoming ever-more vital as there are few other sources of funding available for certain areas of paediatric research. 17 The Little Princess Trust Report and Audited Financial Statements Supporting Childhood Cancer Research These words are. al the same time. both inspiring and worry'ing as they reaffirm the very importance of the charity's vital backing lo childhood cancer research funding in the UK. With so many diffcrcnt projects supported at so many hospitals and univcrsitics across the coulltryy the repuiaiion of The Liiil¢ Prin¢¢ss Trust ¢ontinu¢s to grow within th¢ s¢i¢ntific world. Recognition came this )wear at The Third Sector Awards for The Little Princess Trust's partnership with CCLG while the charity's funding was also frequently referenced al major cancer research conferences both in the UK and overseas. Finally, it 15 hard for all associatcd with thc Charity to cxpr¢ss th¢ pride fclt in thc a¥recment to fund a professioiial post of pa¢diatri¢ oncology al th¢ University of Oxford. Working with one of the oldest and most respected academic institutions in the world represents an enomious achievement and brings hope and expectation that the work funded will improve the lives of many childi'en and young people. Recognition from experts at Third Sector Awards The Little Princess Trust's reputation wiihin the world of childhood cancer research was strengthened when the charity was recognised at the much respected and long-established Third Sector Aivards. The awards give praise lo the UK'S leading charities and all assoeialed ivith The Little Princess Trust 'ere delighi¢d lo see th¢ charity's suc¢essful partnership with lh¢ Children's Cancer and Leukaemia Group (CCLG) listed among the finalists. The two charities were Highly Commended in the Charity Partnership of the Year category at the awards and neivs of this was to later featurc on thc Association of Mcdical Research Charities (AMRC) website. 18 The Little Princess Trust Report and Audited Financial Statements Supporting Childhood Cancer Research Working i¥ith CCLG has ensiired The Little Princess Trust can support so many researchers and scientists searching to tind kinder and Inore effective treatments for all childhood cancers. Aivard.judges praised th¢ way th¢ partncrship ha5 saved so tnuch on titlle and rcsourccs and said it has also actcd as a road Imap for oth¢r charities to follow by showing just how miich can bc achicvcd when diff¢r¢nl organisalions ¢om¢ tog¢th¢r. The partnership began in 2016 when The Little Princess Trust Trustees wanted to expand its remit to fund childhood cancer research. However. with little previous experience of working with the research comtnunity, the cliarity wanted to ¥ain a gr¢ater undcrstanding of what was thcn an unfatniliar world. There was & particular interest to not only follow legal guidelines but, im]x)rtantly, ensure that only the best quality research, likely to have the highest impact for children with cancer, would be selected for tunding. This led to conversations between The Little Princess Trust and CCLG to explore how the charity could fulfil its ¥oal of fundin¥ research that would find kinder and more cffcctivc trcatmciits for childhood ¢anc¢rs. It soon became apparent thal the charity and CCLG shared many goals and the advice, guidance and extra administrative support from The Little Princess Trust's new partners has allowed tlie charity to expand its objectives to fund research. By sharing knowlcdg¢ and rcsourccs, Thc Littlc Princcss Trust has ¥ivcn a liugc boost to childhood cancer research ITJ the UK and, as a result of the collaboration with CCLG, the charity has given Inore than £25 million to pioneering institutions and experts leading the way in researching paediatric cancers. 19 The Little Princess Trust Report and Audited Financial Statements Supporting Childhood Cancer Research Funding of a professorial post at the University of Oxford There was a hugely signifi¢ant mom¢nt in the charity's history, when Th¢ Little Princess Trust b¢gan an exciting partnership with the University of Oxford to fund a Professorial post of Paediatric Oneology. Thc Little Princcss Trust has givcn £3.5tnillion to ollc of the world s oldest univcrsilics with the OVe￿iding aitn to change the trajectory of a child's life when they are given the news of a cancer diagnosis. The Univ¢rsity of Oxford wishes to bring together ils research programs to strengthen paedialri¢ oncology and become a global eentre of excellence in childhood cancer studies. To achievc this goal, th¢ univcrsity said it wa5 nccessary to rccruit a scnior cliiiician-sci¢nti5t to lead thi5 area of work before a detailed proposal was developed for a nem". professorial post of Paediatric Oncology ivith ihe support of The Little Princess Tn]st. The University of O¥ford is fociised on three areas that will impact that prognosis.. discovery research, new drug development and delivery of experimental medicine, with a particular focus on itntnunology. Trustees from The Little Princess Trust visited Oxford's Institute of Developmental and Regenerative Medicine and saw the laboi'atory ivhere the professor, who is yet to be recruited, will be based. As part of the visit. Trustees also learned more abolit Oxford's expertise in basic science. and how the new partnership will build on the capacity to provide clinical trials. 20 The Little Princess Trust Report and Audited Financial Statements Supporting Childhood Cancer Research First anniversary for new partnership supporting clinical trials In thc prcvious year, Thc Little Princess Trust.joined forccs with groups Such as Cancer RcKarch UK to almost Ireble the financial support going lo the paedialric network of Experimental Cancer Medicine Centres (ECMCS) across the country. This year, it has been rewarding to hear of the many developments as the first anniversary of the new funding partnership was marked. Thc Little Princess Trust's involvcmcnt saw. thc research nctwork budget incrcase from £2.3tnillion to £6.6million. It was a busy first y'ear for the network rhal uses ¢lini¢al trials to ¢h¢ck the efYica¢y and safety of new cancer drugs and, among the highlights from an important 12 months, were.. The launch of the DETERMINE trial at 19 UK siies to see if drugs, including those licensed for more common cancers, could also benefit rare cancer types; The opening of a new paediatric ECMC network in Cardiff. Among the clinical trials running at the Welsh site is a studv investigating acute myeloid leukaemia; The Therapeutic Drug Monitoring programme has been increased to 17 centres. More than 300 young palients have been recruited and 12 drugs studied to increase scientists, knowledge of various cancer types: Evidence-based carboplatin dosing guidelines for neivborns and infants have been published in the British Journal of Caiicer and there arc now tr¢atm¢nt guidclincs in place for carboplatin for many tumour types: and 21 The Little Princess Trust Report and Audited Financial Statements Supporting Childhood Cancer Research A new websitc has becn set up for anyone to access helpful information for d05ing in iicwboti] patients. As the new five-year funding commitment enters its second year, the hope remains that the support from The Little Princess Trust, CRUK, the National Ii)stitute of Health and Care Research in England, the Chief Scientist's o￿lCe in Scotland, Healtl) and Care Research Wales and Nortliern Ireland's HSC Public Health Agency, will ensure more children can take part in clinical trials close lo their own homes. Dr Guy Manakin, a consultant paediatric oncologist working in Manchester: said one of the achievements of the ECMC network is to "have experimental trial options available more widely" 'Fifteen years ago, you probably had to go to London and we had lots ot tainilies going to other countrie5 to acces5 drugS9 ' he added. "Now, th¢r¢ ar¢ ¢xp¢rim¢nlal tr¢atm¢nts availabl¢ som¢where reasonably ¢los¢ to you so you don't have to travel. New Ideas Grants continue to inspire innovation The charity's New Ideas Grants have continued into their second year and received a number of high- quality applicants. Introduced lo replace the previous Innovatioll (irant, The Little Princess Trust invites researchers to explore unconventional and for￿'ard-thlnk]ng concepts to improve the treatment and well-being of yoiing can¢er patients. 22 The Little Princess Trust Report and Audited Financial Statements Supporting Childhood Cancer Research The funding amounts for the New Ideas Grants are smaller than for the Innovation Grants but give scientists tar more freedom to pursue projects and areas ot research that have never been previously explored. Th¢ Littl¢ Princcss Trust works with CCLG to selcct thc projccts aitning to gathcr carly cvidence for ideas that ¢ould transform the way ¢hildr¢n with ¢anc¢r ar¢ Ir¢at¢d in th¢ future- and this y¢ar s¢v¢n projects were chosen. Phil Brace, CEO at The Little Princess Trust, said.. -'The expansion of our New Ideas grant scheme demonstrates our commitmenl to advancing children's cancer research. 'It is especially exciting to scc SO tnany projccts this year that take a tnulti-dis¢ase approach. 'These cross-cut(ing initiatives have the p)tential to benefit the entire childhood cancer research field and, we hope, improve outcomes for many more young patients." Meanwhile. Ashley Ball-Gamble. CEO of CCLG, said.. "The New Ideas projects highlight the itnportance of Lvt's unique funding schemes, with the potential to inspire significant future research and tnakc a real diff¢rcllcc for childrcll with cancer." The 2024 New Ideas Grants were as follows: Rewriling cancer cell messages to slow down tumour growth.. Professor Karitn Malik at the University of Bristol. Understanding how a new drug can selectively fight childhood cancer cells.. Dr Igor Vivanco al King's College London; 23 The Little Princess Trust Report and Audited Financial Statements Supporting Childhood Cancer Research Und¢rstandin¥ how imtnutte cells around the brain project childhood cpendyinotna lumours- Dr Elizabeth Cooper at the University of Cambridge; Understanding how childhood cancers spread= Dr Madhumita Dandapani at the University of Nottingham; Cra¢king the code understanding how neuroblasloma and immune cells join forces to improve Irealm¢nl: Dr Alejandra Bruna al rh¢ Inslilut¢ of Can¢¢r R¢s¢ar¢h; Fighting circular DNA &s a ncw way to prcvcnt rclapsc in acute lytnphoblastic Icukactllia- Dr Joan Boyes at the University of Leeds; and Making an'off-llie-shelf CAR-Tcell Ireatinent for ¢liildreii with solid can¢ers.' Professor Jolin Anderson at UC.L Great Ormond Street Institute of Child Health. Expandingour knowledge by making newcontacts overseas Committing substantial sums of money to childhood cancer research comes with a responsibility that the funds must always go to the right places. The charity's relationship with CCLG ensures that this is the Case, but The Lirtle Princess Trust staff have a commitment to always keep learning and understand the latest developments within the world of cancer research. Attending international conferences is ali excellent way to not oiily hear of the latest advances but also forge new relationships with the leading scientists performing incredible work within the sector. This year, staff frotll th¢ charity attended the annual congr¢55 of the Intcrnational Society of Pa¢diatric Oncology (SIOP} in ottaw￿ Canada and SIOP'S European ¢v¢nt in Milan, Italy. 24 The Little Princess Trust Report and Audited Financial Statements Supporting Childhood Cancer Research Another excellent opportunity to leam came at the Accelerate Paediatric Oncology conference in Belgium while mai)y other meetings were held ￿'7{h research partners closer to the charity's UK headquarters. Scientists uncover the'Rosetta stone, of sarcoma research Work funded by The Little Princess Trust has fornied part of the first and largest encyclopaedia of protein alterations in soft tissue sarcomas op¢ning the door lo a new era of understanding and trealment for this group of rare ¢anc¢rs, ￿h1¢h ac¢ouni for around 4,000 ¢ases in the UK ¢a¢h y¢ar. Building on funding from eight different charities, including The Little Princess Trusl. this pioneering cncyclopacdia of sarcoma biology compiles a wealth of iiiformation that could help untanglc Ilic protein chaiiges driving sarcotnas. growth. spread and survival. The findings, publish¢d in Nature Communications, will alloiv r¢sear¢hers to tap inio the pol¢nlial of immiinotherapy in this cancer type. It could also identify p¢ople at high¢r risk of relapse and provid¢ new ways to personalise treatments. Tl)e eneyclopaedia, develOp￿d by a teatll of researcl)ers and clinieians led by Tl)e Institute of Cancer ResearLh, London, comprises data from 321 people- including ehildren, teenageTS and adults- with I I different types of sarcoma lumours. Some patients with sarcoma Currently face limited treatment options. Researchers looked at patient samples lo uncover the 'proteomic profile, of the sarcoma tumours. These proteomic profiles are snapshots of all the different proteins in different tlimours, which help rcscarchers better understand how the proteins are functiollill¥ and driviii¥ thein. 25 The Little Princess Trust Report and Audited Financial Statements Supporting Childhood Cancer Research Since most approved cancer drugs work by targeting proteins, understanding more about the proteins driving sarcoma could lead to new targeted drugs. Thc new insight5 have a150 uncovered n¢w' itntnunotherapv targets, includin¥ proteins involved in the complciiient cascadc- a kcy part of pati¢nts innatc iinmunc systcm. The new targets could ultimately lead to new ways of treating 'immiine cold" sarcomas, which are not properly recognised by the immune system and do not respond well to current immune checkpoint drugs. The encyclopaedia has also allowed researchers to identify proteins that can be Ineasured to help prcdict which tumours arc particularly hi¥h-risk and a¥grcssiv¢. This could, in thc futurc, pave the way for more lailor¢d tr¢alm¢nl for individuals, for ¢xampl¢ by identifying pati¢nis who may ben¢fil from more aggressive treatment. The researchers were also able to categorise tutnours into a series of interconnected biological networks called 'proteomic modules,. They identified 14 different modules. which can act as 'signatures' or clues, that could Iielp researchers and clinicians to better understand tutllours, predict outcotllcs and &sscss clinical risk to improvc paticllt care. Study leader Dr Paul Huang, Team Leader of the Molecular and Systems Oncology Team at The Institute of Cancer Research, London said= "Our 'encyelopaedia' of protein alterations is a vital resource-a Rosetta Stone of sorts that will help us unravel the complex language of sarcoma tumours. "This will allow us to explore new avenue5 of personalised treattnent, offering renew'ed hope for pcople with sarcoina. 'Our findings hold promise for the development of new targeted treatments and immunotherapies that can disriipt the und¢rlying pro¢esses driving sar¢oma. 26 The Little Princess Trust Report and Audited Financial Statements Supporting Childhood Cancer Research "l am hopeful that this study will lead 10 improved ireatment outcomes and a better quality of life for sarcoma patients., Genetic code of rare kidney cracked Thc Little Princess Trust hclpcd to fund the first study of a g¢llctic codc of a rare fonn of kidne). cancer, called reninoina. Findings in a paper, published in Natur¢ Communi¢alions, highlighted how res¢ar¢hers al the W¢llcome Sanger Institute, Great Ormond Street Hospital and The Royal Free Hospital r¢v¢al¢d a new drug target that could serve as an alternative treatment if surgery is not recommended. Thcrc arc around l 00 cases of reninoma reported to datc worldwide, and it is among the rarcst of tuinour5 in Iiuiiians. Although il can usuallv be cur¢d wilh surgery, it ¢an cause severe hypertension or il can spread and develop into metastases. There are no existing medical treatments for reninotna and management involves surgery alone. Until now. it had been unknown what genetic error causes reninotna. In Ilie new study, funded by The Little Princess Trust, researchers found that there is a specific error in th¢ gen¢ti¢ ¢od¢ of a known cancer gene, NOTCHI, that is behind th¢ development of this rare cancer. The team examined two cancer samples- from a young adult and a child- with advanced genomic tcchniques, known as whole geiiome and siiiglc nuclcar sequencing. 27 The Little Princess Trust Report and Audited Financial Statements Supporting Childhood Cancer Research Their findings suggest that the use of existing drugs targeting this specific gene is a possible solution to treating reninoma tor patients where surgery is not a viable option. Dr Sam Behjati. co-lead author of the study, said.. 'Rare cancers are cxcecdingly challenging to study. and paticnts with such tutnours may thcrcforc not b¢ncfit froiii canccr rcscarch. "Here, ￿e have a wwerful example of cutting-edge science rewriting our understanding of an ultra- rare tumourtype, reninoma. whilst delivering a finding that potentially has immediate clinical benefits for patients. 28 The Little Princess Trust Report and Audited Financial Statements BecomingA More Effective Organisalion BecomingA More Effective Organisation Charity praised for helping aesthetic well-being of others The Little Princess Trust's free Mpig service received a global award froiii a¢ademi¢s in Scandinavia. The Finnish Society for Aesthetics highlighted the charity's "long-standing and praiseworthy work" by awarding the charity with the Global Aesthetic Achievement of the Year prize. Previous winners of the award, which is given to a person or group who have raised a discussion about art, beauty. and aesthetic values, include the World Health Organization. The society praised The Little Princess Trust for proinoting a discussion about the 'dimension and relevance of aesthetics in everyday life and its conneclion to ethics and personal identity beyond commercial interests and influences" 'The Little Princess Trust has diligently higlilighied the importance of being able to express one.s identity in a w'ay one choose5 regardless of age, state of one's health, and financial status," the judges said. 'Additionally, relying on donations, The Little Prin¢ess Trust has brought attention lo the duty of social care we all share in our everyday lives and to the potential low threshold actions, such as donating hair, Ihal can improve the aesthetic well-being of others." The award was announced al a ceremony at the Kirpila Art Collection in Helsinki. Organisations are unable to nomiiiate rhemselves aiid are, instead, selected by tlie society's committee. 29 The Little Princess Trust Report and Audited Financial Statements BecomingA More Effective Organisalion Launch of printed Funky Hair Funday campaign The Charity is very aware of how r¢lianl il is on fundraising donations that ¢om¢ via sponsored haircuts. For a long time, there has been a wish to develop a fun campaign that allows people ivho do noi have long hair, or did not wish to cut their long locks, to still bc ablc lo support the charity ill an inclusive way with others. The Funky Hair Funday ¢ampai£n was ¢r¢al¢d I￿,0 y¢ars ago as a way for people lo support the ¢harity by styling their hair- or head- in the most imaginativ¢ way possible. It began as a digital catnpaign whereb). the assets that could help supporters to organise their own Funky Hair Funda). could be downloaded from The Little Princess Trust's ivebsite. Despite being heavily promoted on tlie charity's social media pages, take-up niimbers for the digital offering w¢re low and the charity's ¢omniuni¢ations l¢am r¢viewed ea¢h digital asset before Inaking chang¢s and turning them into a print¢d s¢t inside a newly d¢sign¢d Funky Hair Funday envelop¢. The fundraising packs can be requested. for free, from the charity's website and it has been pleasing to see so tnany schools and businesses l)osting their oTrvn Funky Hair Fundays. The age ranges and different demographics organising eveiits show this campaign can be enjoyed by anyone and has opened up a new in¢om¢ stream for the ¢harity. Rise in the percentage of longer hair donations The Little Princess Trust first began to heavily promote the need for longer hair donations during the first Covid-19 lockdown through its 'Let It Grow, canipaign. 30 The Little Princess Trust Report and Audited Financial Statements BecomingA More Effective Organisalion Progress has been made with the percentage of supporters donating more than 12 inches of hair increasing year-on-year and further efforts have been made to reinforce the message that. wheii it coine5 to donating hair. it Is a casc of 'th¢ longer the b¢tlcr'. As ivell as so¢ial media posts and websit¢ blogs explaining that th¢ ¢harity alr¢ady has a good stock of shorter hair donations, increased communication with the many salons that support The Little Princess Trust has amplified this message. The combined efforts frotn different departtnents have had the desired effect of increasing the percentage of longer hair donations sent to the cliarity. The percentsge of hair that measured above 12 inches stood ai 69.60/0 which was up frotn 66.30/0 in 202213 and 47.90/0 in 2021122. Importance of sponsored haircuts While th¢ Charity is grateful to every singl¢ hair donor, ils unique fundraising model rhal r¢li¢s on the financial support from th¢ publi¢ to provid¢ ivigs and fund resear¢h m¢ans that in¢om¢ from sponsored haircuts is vital. It w'as welcoming, therefore, to see the percenlage of hair donations with fundraising rise from 180/0 to 230/0 over the past two years. The ¢harity maintains a softer position than many others in lemis of its fundraising approach. Inst¢ad of 'rattling tins, or using iinsoliciled m&il, the charity prefers to update supporters of how their financial support makes a difference to children and young people. Onc such aveiiuc where this coiiteiit is published is within the fundraising pack. Requests for the free pack rose significantly this year from 16,470 requests to 24,016. 31 The Little Princess Trust Report and Audited Financial Statements BecomingA More Effective Organisalion Supporters who do request a pack are encouraged 10 gather fi]ndraising on the JustGiving plarform and given advice on how they can promote their page to triends and tamily. A lot of w'ork has taken place to update supportcrs on thc revised amounts that it Costs the cliarity to providc onc wig to a child or young pcrson and it w&s plcasing to scc the avcragc JustGivin¥ pa¥c valu¢ ris¢ froni £476 in 2022123 ro £530 in 2023124. Reaching a larger audience via email and social media The Trust¢es are fully aware that getting The Little Princess Trust's key m¢ssages to larg¢ numbers of people is something that can bring many benefits to the charity. For ¢xampl¢, clarifyin¥ the most itnportalll points for hair donors is onc arca wlicrc clear and concise comniunicalion helps. It is important that both the young person donating their hair and their parent or guardian sending their hair off in the post, understand the best ivays for th¢ hair to be cut and how asso¢iated fundraising can help LPT achieve its objectives. Tl)e charity knows that different means of communication can be used to their full potential to ensure eacli demographic has a clear understanding of the charity's priorities, goals and policies. The pasi 12 months has s¢en Ihe Charity send out more emailed n¢wslelt¢rs Ihal ever before by using the Mailchimp software. The Little Princess Trust now has more than 75,000 subscribers to its e-shots and these have proved an extremcly cffectivc way of kccping sUPPOrters involvcd and fraiichised in with thc charity. 32 The Little Princess Trust Report and Audited Financial Statements BecomingA More Effective Organisalion The various social media pages are also an increasingly useful tool as each platfonn is favoured by a different age group and the content is changed to reflect this. As of July 2024, The Little Princess Trust Iiad 105,936 follow'ers on Facebook {up from l 01,661 the ycar bcfore), 79,729 followcrs oll lllsta¥ram (up frotn 74,152), 14,961 folloWc￿ on X (down froin 14,968), 5,392 followers on Linkedln (up from 4,668) and 13,459 followers on TikTok (up from 12,589). One notable development on social media has been an increase in video content. The key platfom]s are giving greater prominence to tnoving content and the charity's social tlledia team has taken action to lake advantage of this change. Th¢ results ¢an b¢ s¢¢ii iii th¢ number of views on (he ¢harity's TikTok pag¢ ivhi¢h rose from 278,211 views in 2022123 to 409,840 in 2023124. Meanwhile, the reach of the charity's Instagram posts boosted by more video content increased from 2,693,458 to 3,991,732. These numbers reatTirm once more the power of social media for the charity to reach neTh' audiences. Improved the offering in our online shop Tl)e charity started an onlii)e shop in 2020 that stocked a small number of branded products such as T-shitts, tote bags, pens and baseball caps. The aim of the shop was primarily lo raise the profile of th¢ charity as many supporters shared photos of themselves on social medi& while wearing the branded items and having their hair cut or taking part in sporting events. A thorough rcvicw of the shop w'as uiidcrtaken in the past 12 months that looked at both the dcsign of the online website as well as ihe product5 sold. 33 The Little Princess Trust Report and Audited Financial Statements BecomingA More Effective Organisalion As a result, design changes were made to the look of the online shop while additional items were added to the store. Thc hopc is that the ncw itetns will continue to raise Ihc profilc of thc charity ivhile also creating an additional incomc strcatn. Build and nurture relationships with supporting salons The charity is incredibly grai¢ful to r¢¢¢ive wonderful support from people working in salons across the UK and Ireland. Many of these salons are small, independent businesses and yet many of them offer free haircuts to their clients who are donating their hair to The Little Princess Tn]st. Other hair profcssiolla15 run fundraising days whil¢ the charity is awarc that others einploycd in the hair industry help to proinote the charity's wig provisioii setvice by putting the cliarity's posters, slickers and leaflets oil display. An opportunity to formally recognise the support of an industry that has ¢lear links lo the charity was identified and the charity's communications team led this project. Tl)e result was a campaign called 'Hair for eacl) otl)er tl)at celebrated the many links between hair professionals and The Little Princess Trust's free wig provision service. A free salon pack was created for the campaign that ¢ame compl¢te with window sti¢k¢rs, mirror clings and printed leaflets and letters outlining how hairdressers and hair stylists can support The Little Princess Trust. Celebrity hairdresser aiid Little Princess Trust Ambassador Andrew Barton was one of tnorc than 500 hair professionals who received one of the new packs iwo months after the launch of the campaign. 34 The Little Princess Trust Report and Audited Financial Statements BecomingA More Effective Organisalion He encouraged his fellow hairdressers to follow his lead and help the charity to continue supporting children with cancer by giving them a free, real hair wig. 'Hair for Each Other is the perfect opportunity for hairdresscrs, barbers and stylists to support The Littlc Princess Trust,, hc addcd. 'Plcasc ¥ct involvcdl" Promoting the diversity of wigs and offering a truly inclusive service A key aitn of Thc Little Princess Trust is to offcr wi¥s to childrcn and )'oung people that closely rcscmblc thc hair Ihcy have lost. To do this, the widest range of real hair wigs is needed- featuring different ¢olours, vari¢d lengths and all hair types. To ensure each individual wig recipient's heritage is fully respected, much work has gone on behind the scenes over the past few years Wlth Raoul Wigtllakers in London to make wi¥5 from Afro-tcxturcd hair doiiations. This partnership has continued to develop over the past 12 months, and it has been very rewarding to see children- and their parents- praise the qualit), of the wigs provided. Natasha Gausi Twee, the mother of wig recipient Diamond, said her daughter did not stop smiling aftcr having her wig styled 'cxactly a5 shc wanted,. Meani¥hile Stefanie Ruth, Savannah's mum, said her child's face 'lit up with a smile that melted Iny hearf when she first wore her wig. 35 The Little Princess Trust Report and Audited Financial Statements BecomingA More Effective Organisalion The charity is keen to increase its knowledge of Afro-textured wigs and attended a major conference in London that had many speakers discussing hair loss Thithin the black community. Organised by tTichologist Lorna Joncs, C & Hair w'elcomcd derniatologists, oncologists. and consultants with thc aim of advancing convcrsations on canccr. Afro hair specialist Verona White gave a live wig-niaking demonstration while consiiltant dermatologist Dr Sharon Belrllo spoke in detail about Afro-textured hair care and hair loss. There were also presentations frotn Codilia Gapare. the inventor of E>'lure C-lash. consultant oncopla5tic breast surgeon Carol Noniian, and Jeff Thompson - the founder of Cancer Don't Lei It Win. lan Morris, Communications Manager at The Little Princess Trust, was there, too, and told guests about the charity's partnership with Raoul Wigmakers. He look along two of the charity's wigs thai had been made from Afro-textured hair donations and there was huge interest- and praise - from guests for the quality of the Thigs. lan r¢tuni¢d from (he ¢onf¢r¢n¢¢ with hair donatioiis after guests g¢n¢rously cul off Iheir curls lo help the charity's wig provision servi¢e while Lorna very kindly made The Little Princess Trust the conference's chosen charity, meaning that £320 was given to the charity at the event. Receiving support from businesses both large and smalL The Little Princess Trust has built up an increasingly valuable number of corporate supporters who have ¥ivcn their backing to the charity. 36 The Little Princess Trust Report and Audited Financial Statements BecomingA More Effective Organisalion The loyalty from companies such as Sally"s, Cloud Nine, Great Lengths and Starpowa is very. much appreciated by all at The Little Princess Trust and their long-term comtnitment to support the charity has contributed Éo a generous source of income. This year saw a new partnership formed with thc hu¥cly influential, Wclla Cotnpany. The world's numb¢r on¢ ¢olour brand has already pledged to donate shainpoo and condilion¢r for th¢ ¢hariry's wig care gift boxes while the company's salons will also be promoting The Little Princess Trust to their customers across the UK and Ireland. Janus Henderson Investors is another cotnpany making a valuable contribution toivards the charity- The global asset management specialist has pledged to donate lens of thousands ot pounds in the next financial ycar &s part of thc company's weck of givin¥. The charity also received substantial support from smaller businesses and a great example of the generosiry shoThm toi¥ards The Little Princess Trusi came from Burghill Valley Golf Club. Pete Griifiths raised thousands of pounds during his year as captain of the golf course. He held various coinpetilions throughout tlie year and organized a unique raffle when golf balls were purchased before bcin¥ droppcd frotn a hclicopter in a ncarest-thc-pin-wins contcst. Famous faces help to raise our profile The Littl¢ Princess Trust is incredibly fortunate to re¢eiv¢ support from tens of thousands of individu&ls every year. These huge numbers undoubtedly ensure more people find out about the charity and help young people with hair loss discovcr that the charity is there to support them. 37 The Little Princess Trust Report and Audited Financial Statements BecomingA More Effective Organisalion In an ever-changing digital ivorld, some supporters can - thanks to their social media profile - help to raise the charity's protile even further. In prcvious years. the charity has received huge attention after cel¢briti¢S such as Harry Styles. Jessie J and cvcn thc Duchcss of Caiiibrid¥c donatcd thcir hair. This year again saw some famous faces promote the charity after they either donated their own hair as was the case with England cricketer Rory Burns or they supported the efforts of friends and family as happened with actresses Dame Judy Dench and Dani Harn)er. The Little Princess Trust once again received many coluinn inches in the regional and national press and fcatur¢d on national television when BBC Morning Livc intervicwcd thc charity's Dircctor of S¢rvi¢¢s and Impact Wendy Tarple¢-Morris and wig r¢¢ipient Kiya Kanani ai the Hannah Tarpl¢e Building. It is worth stating that as well as being a Little Princess Trust Atnbassador, Kiya is one of the few ivig recipients ihat has spoken publicly about her experience with cancer. Th¢ charity always puts thc prioritics of its wig rccipicnts first and nevcr approach¢5 wig rccipicnls to sp¢ak lo joumalisls. The few wig recipients that are featured in the media have made the initial approach to help with such enquiries. Even so, the charity's Cotntnunications Manager always carries out due diligence on any media rcquest to cnsurc that th¢ youn¥ p¢oplc supportcd by Thc Littlc Princcss Trust arc not put in an awkward or sensitive position. This approa¢h has se¢n some media opportunities lost bul the well-being of ihe ¢hariry's wig recipients is the only consideration. 38 The Little Princess Trust Report and Audited Financial Statements Future Plans Future Plans Mark the charity's 20th anniversary The year 2025 I￿.711 be the 20th anniversary of The Littlc Princess Trust. Thc charity will bc marking this spccial tnomcnt by looking at tlie charity's impact a]id achievctnents, and the many inspirational people that liave both played their part in its story and b¢nefired froin ils work. People will also be encouraged to promote this special moment in the charity's history and branding. such as logos. a strapline and digital assets perfect for social media, will be created to help supporters raise The Little Princess Trust's profile ivhile highlighting their backing for the charity. It is lioped that events and cainpaigns will run throughout the 12 months of 2025 to not only raise the profile of the charity bul also increase fundraising too. Offera wigto everychild oryoung person who mayneed one As the charity's mission is to offer a free real hair wig to everv child and young person experiencing hair loss due lo cancer treatment. a constant goal is lo ensure that every young person up lo the age of 24 know's of tlie availability of Tlie Little Princess Trust'5 wigs. Th¢ work, Ih¢r¢for¢, M'.iih our k¢! partners n¢v¢r slops and all fiitur¢ slrat¢gi¢s will prioritis¢ th¢ ii¢ed for links lo be streiigthened with children's hospitals and cancer charities. 39 The Little Princess Trust Report and Audited Financial Statements Future Plans This will mean developing alread), strong contacts wilh child hospital departments and looking for new ways to make the process of requesting a M'"ig as sitnple and straightforward as possible for young people. Th¢ charity will review th¢ way wigs can bc requestcd in a digital scttin¥ as ihc rcfcrra15 departmcnt's own stalislics shomp that requests from websites are in¢r¢asing in popularity. The communications team will also look to get more professional photos of the charity"s wigs taken to highlight the variety of wigs that are freely available. The aim is that these new linages will be used to update existing printed booklets and brochures and bc uscd on thc charity's wcbsitc and social tnedia pages to educatc a ncw and growing audicnce. Fulfil comprehensive review of charity policies The start of a full review of ¢harity polices has begun and efforts will be made lo ensur¢ this important project is completed within the n¢xt year. Led bj the Policy and Quality Assiirance Assistant, the policies will cover all departments and ensure there are clear working practices across the charity that closely adhere to contemporary legislalion. Work more closelywith schools As a]1 organization that receives so much support frotn young people, the charity has begun exploring ways to creatc greater liiiks ivith schools. This would Inake young people more aware of the free wig provision service and edu¢ate Children on how they can support The Little Princess Trust. 40 The Little Princess Trust Report and Audited Financial Statements Future Plans Links have been made with I decision, a company that makes specialist resources which cover the slatutory eletllents of 'Health a])d Relationships Education,. I decision lias tnany year5 of experience working with schools and th¢ charity w'ould likc to build on prcvious dcveloptn¢nts by crcating ncw di¥ilal Icsson and asscmbly packs which can bc madc frccly availabl¢ on the coinpany's ￿ebsIte. Have greater representation at established sporting events The benefits of entering Little Prin¢ess Trust sports teams have alr¢ady be¢n feli in previous years. The Cardiff Half Marathon and the London to Paris cycle ride are two of the events where substantial fundraising and profile has been raised for the charity. A great sense of camaraderie and a wonderful community spirit is also generated by people going the extra miles ￿h]le wearing the ¢harily's colours- as well as ¢realing ¢moliv¢ ¢xperienc¢s ￿.h1¢h help to generate long-term support. Wilh the aforementioned 20th anniversary approaching. the charity would like to explore the possibilities of entering more teams in sporting events. with a greater number of participants. The policy would build on previous plaiining of entering teams in events organized by established companies. 41 The Little Princess Trust Report and Audited Financial Statements Future Plans Explore new opportunities to increase storage capacity As The Littl¢ Princess Trust increases ils sto¢k of wigs to ¢nsure the supply is suffi¢ient lo match every request as soon as it is received, the logistics team is constantly looking at the best ways to keep its stock of wigs securely stored. Increases to th¢ charity's printed marketin¥ collateral and a rise ill the numbcr of items on The Little Princess Trust online shop have also impacted on the storage capacity at the Hannah Tarplee Building. One solution ¢ould be to rent or pur¢hase a property ¢lose lo the ¢harily's existing two premis¢s in Her¢ford city ¢¢ntr¢. Siaff will monitor potential opportunilies in the area and explore the financial itnplications of any purchases should th¢>. arise. Increase the charity's reputation within the world of cancer research through its partnership with Oxford University Now that the funding agreemei)t for the Professor of Paediatric Oncology at the University of Oxford has becn approved, itnpotlant further details need to bc finalized as part of this exciting projeci. At the top of Ilie priority list is the sele¢tioii of the person to take the professorial post and lead this hugely significant programme at on¢ of a¢ad¢mia's great institutions. Once this has been done, the charity hopes to work with the university's communications department to publicise The Little Princess Trust's funding of the role and highlight the itnportance of funding childhood cancer research. 42 The Little Princess Trust Report and Audited Financial Statements Future Plans It is anticipated that the name of the new post will be The Little Princess Trust Professor of Paediatric Oncology and this will act as a constant reminder of the charity's vital involvement in tl)e project that will see a new research group iii Oxford's Departtllent of Paediatrics created to harness the university's considerable research capabilities. All asso¢ial¢d with (he ¢harity ar¢ ¢x¢il¢d lo s¢¢ how th¢ links ￿'It17 Oxford's 900 can¢er r¢s¢arch¢rs will amplify scientific efforts and provide the support of mission-aligned collaborators and partners. Grow our numbers and influence on social media The Little Princess Trust's Facebook and Instagram pages have been brilliant tools for the charity to get across its key messages to supporters and grow ils profile. Reach and engagement nuiT]bers increased significanlly last year as the charity'5 Social tnedia team doubled its daily output on The Little Princess Trust's two most proininent platforms. As r¢cognised across the world of social media, the importance of moving content is growing and greater emphasis will be placed on the creation of in-house video clips for the charity's Facebook, Instagram and TikTok pages. The young demographic of so many of the charity's supporters means that social media remains a vital communication asset and time M'ill be spent to develop in-house video skills as this is a more eff¢clive us¢ of both the ¢harity's liine and ils financial resources. The last 12 months have also seen an increase in the number of subscribers to the charity's emailed newsletters. 43 The Little Princess Trust Report and Audited Financial Statements Future Plans Ages of this audience differ from the social media followers and offer the charity a great opportunity to communicate Nl'ith a difterent detnographic and so more efforts will be n)ade to increase the output to the tens of thousands of people who open the charity's email neivsletters and e-shots every month. The Little Princess Trust Report and Audited Financial Statements Financial Review Financial Review Financial overview of the year The Little Princess Trust has shown strong resilienee this year despite the continuing and challenging external economic environment and cost of living crisis. This achievement is even more astonishing given that the charity does not employ or use any external fundraisers- funds are raised through individual doi)ations, COTporate donors and a small number of sporting events. The ¢harily also ben¢fitt¢d this y¢ar from a UK Government Post Covid Re¢ov¢ry M¢di¢al Research Charity Support Fund which will directly contribule to future research funding. LPT has conlinued with plans to keep reserves within the target range specified in the reserves policy, with the aim of fui)ding as man), appropriate research opportunities and reaching as Inaiiy children and young people needing our support as possible. Income As the table below shows, the charity has been able to grow income, with donation income 390/0 UP compared to the prior year and total income for the year showing an increase of 41 % 45 The Little Princess Trust Report and Audited Financial Statements Financial Review Financial Results in Summary Actual Actual 202314 202213 Total income 9,101,166 6,463,777 Total expenditure {9,078,637) {9,049,346) Investment Ilossesl l income 677,480 {160,980) Net {deficitl I surplus 700,009 {2,746,549) Totalfunds at 31 July 16,235,249 15,535240 Sponsorship directly linked to hair donations retnains the principal source of incoine for the charity- While successful efforts have been made lo diversify fundraising by, for example, increasing commuiiicalion with corporate supporters and promoting sporting events, the substantial suiiis raised by thos¢ ¢ulting their hair for The Little Prin¢¢ss Trust is the k¢y r¢v¢nu¢ g¢n¢rator. This income received from so many individuals ensures the charity can tneet its two key objectives= to provide real hair ivigs, free of charge, lo children and young people who have lost their hair due to canccr treattllent and other conditions. and to fulld research focused on finding kinder and more effective treatments for all childhood cancers. Expenditure LPT monitors sp¢ndiiig closely and impl¢m¢iils budgetary controls across (he ¢harily. Expenditure on chari(able activities remained high at 90.1 0/0 of total expenditure (22123 92.50/0). We endeavour to keep the cost of raising funds to a miniinum where possible. The cost of raising funds w&8 £897,347 compared to £676,692 in the prior year. This was mainly due to higher donation 46 The Little Princess Trust Report and Audited Financial Statements Financial Review sile fe¢s as a result of increased donation income, ¢osls relat¢d lo lh¢ increased volume of fundraising material requests, and additional staff time spent on fundraising activities. Overall, total expenditure for the j'ear remained consistent with a slight increase from £9,049.346 in 22123 to £9.078,637 in 23124. Total expenditure includes research grants in year which are recognised in full at the date of the grant agreeinent. During the year, a total of £5,859.114 research grant funding was approved {nel present value of £5,949,795) coinpared lo £6,461,763 (nel present value of £6,271,685) in 2022123. Fundraising activities The Little Princess Trust has an ethical and transparent approach M'ith regards lo its fundraising. The charity is registered with the Fundraising Regulator and is an Organisational Member of the Institute of Fundraising. All staff follow the Code of Fundraising Practice. The charity does not Use any external fundraisers and does not einploy any full-liine fundraising staff. Out of the 32 employees, only the CEO and the memb¢r of staff in charge of ¢orporal¢ partnerships ar¢ involved with a¢tive fundraising (alongside other duties that are not linked to fundraising). The Trustees are not aivare of any failure by the charity. or of any person acting on ils behalf, to comply M'ith fundraisiiig standards. The charity monitors its fundraising activitics, and those of any person acting on its bchalf, through online platfornis, such as JustGiving, and aiins to thank all of their donors both hair and financial donors within 48 hours of being infomed of their supporters, efforts. Oversight of fundraising activities is the res]x)nsibility of the Board of Trustees and any new initiatives or aetivities are discussed at the board meetings which are held at regular intervals through the year. 47 The Little Princess Trust Report and Audited Financial Statements Financial Review The charity received no ¢omplainls relating lo ils fundraising a¢tivili¢s during th¢ year lo 31 July 2024. The charity strives to protect vulnerable people and other members ofthe piiblic from behaviour which is an unreasonable intrusion on a person's privacy, is unreasonably persistent or which places undue pressure on a person to give money by not undertaking cold calling, telephone campaigns or employing any third parties to raise funds on our behalf. The charity does not approach members of the public for fundraising. The charity raises funds through individual donations, corporatc donors and a sillall nuinbcr of fundraising sporting cv¢nts. This approach ensures it keeps to its fundamental aim of being loi¥ on overheads and high on iinpact. Reserves policy The Trustees recognise the need to hold charitable funds as free reserves to safeguard the ability of the charity to continue to meet its charitable objectives. Free reserves are calculated as follows: 2024 2023 Total funds of the charity 16,235.249 15,535,240 Less: Restricted funds (350,672) {22,603) Less: Designated funds (10.050,649) {10,553,722) Less stock (1,695,110) {1.254.368) Free Reserves 4,138018 3,704,547 48 The Little Princess Trust Report and Audited Financial Statements Financial Review It is worth noting that although the charity app¢ars to hold a signifi¢ant amount of total funds. a significant part of these funds is either designated or restricted. Free Reserves as a Percentage olTotal Funds 3% 25% 62Vo Da8lgn8ted Funds Fraa Resatvas Stock ReStri￿￿d Funds The Little Princess Trust has a policy of maintaii)ing su(ficient free reserves to enable the charity to Ineei lis operational expenditure for a period of between 12 and 24 months {£3.3m to £6.6m based on 202412025 bud¥¢t). This would enable the charity to continue to operate for & period of time should income become significantly impacted, and to allow time to assess and implement future plans for The Little Princess Trust. The provision of a Thig to a recipient, can cover a significant period of time due to lengthy cancer trcatmcnt. 11 is thcr¢forc felt by thc Trustces, that havin¥ frcc rcscrvcs available for a period of12 to 49 The Little Princess Trust Report and Audited Financial Statements Financial Review 24 months, would allow existing wig recipients to ¢onlinu¢ to have the support they need during treatment. Excess reserves will be designated for specifie activities by the Trustees when an appropriate and timely use of the funds has been identified and agreed by the Board. Free reserves as at 31 July 2024 amounted to £4.1 m which is within the target range of the reserves policy. Al 31 July 2024, designated funds amounted to £1 0.5m'. Fixed Asset Fund £1,973,555: th¢ fixed asset fund r¢pr¢s¢nts the ¢arrying amount of tixed assets held by the charity to the year ended 31 July 2024. Fixed assets movements including additions, disposals and depreciation are represented within this fund. LPT Childhood Cancer Research Fund £6.077,094: this fund is designated for spending oil research per the research strategy over the medium ternis {5 years). This flind is to enable the ¢liarity lo fulfil its strategic research objectives and inake research funding ¢ommilmenls spanning multipl¢ y¢ars. Professorial Post of PaediatriG OnGology- Birmingham University£2,000,000. An endowment of £2m from The Little Princess Trust will support the professorial post of Paediatric Oncology in perpetuity. Tl)e funds will support t]ie salary and on-costs of the post-holder. Restricted funds are tliose which can only be used for & particular purpose within the objects of the charity and ivhen specified by the donor. Restricted funds at 31 July 2024 were £350,672.. COVID Support Fund: A total of £793.235 came from the UK Governtnent Post Covid Recovery Medical Research Charity Support Fund. The funding aims to protect the pip¢linc of carly career rescarchcrs and to hclp support ihc charity rcscarch sector rcgain 50 The Little Princess Trust Report and Audited Financial Statements Financial Review its pre c.ovid l¢vel of research and innovaiion inv¢slm¢nl in the UK. This fund will be spent in the next 12 months. Each year, the Trustees review the reserves policy to ensure that it remains appropriate in the current environment. Investment policy To enable the charity to continue its wig provision and funding of research, it is vital that LPT receives a return on invcstments whilst protecting capital for futurc spcndin¥ opportunitl¢S. The Finance, Audit, Inveslinenl and Risk Coinmittee (FAIRC) is responsible for ovetseeing the overnll investment strategy and for the oversight of its impleinentalion. At the start of the year, the charity's two investment portfolios were managed by RBC Brewin Dolphin UK and LGT Wealth Management according to LPT'S investment policv. During the year, the FAIRC concluded that the previously held policy of holding investments for the long temi and with a view of outperforming inflation, M'as no longer appropriate. The policy needed to be updat¢d to refl¢¢t the Charity's current investment obj¢clive of a¢hieving the b¢st finaii¢ial return with a low l¢v¢l of risk. With an emphasis on the funding of research projeets, the new strategy required access lo funds in the short to tnedium term to take advantage of any newly available and appropriate research funding opportunities. Following a volatile period for inveslmenis and with th¢ opportunity lo take advantag¢ of high interest rates, the decision was made to de-invest charity funds from its two investment portfolios, and to place funds in a more accessible environment and where a guaranteed return ivould be received. Investment incoin¢ for the year overall was £572,337 (£334.849 in 22123}. 51 The Little Princess Trust Report and Audited Financial Statements Financial Review Risk Management Principal risks and uncertainties As a charity., The Little Princess Trust (LPD faces risk in a wide range of areas, our principal strategic risks being: Regulatory: The risk of not adhering to legislation, Charity Commission or other regulation. Reputational: The risk of an incident that has a significant negative effecr oli LPT'S reputation. Operatlonal contlnulty: The risk of a significant negative impact on LPT'S operations, for cxainple a premise5 fire or Inajor data loss. Inability to meet charitable objectives: The risk of interruptioii lo our nonnal charitable activities, for example significant reduction in our wig sllpply chain, or the loss of a strategically critical research partner. Flnanclal: The risk of a substantial reduction in funding or other financial loss, for exatnple signiticant fraud. People: Risks and liabilities associated with Trustees: staff, and volunteers. For example, HR and employiiient disputes, or the health and safety of our staff. Awareness of potential risk and appropriate mitigation actions is embedded at all levels i¥ithin the organisation, supporting the Culture of good risk management behaviours. 52 The Little Princess Trust Report and Audited Financial Statements Financial Review Recognising risk, escalating the risk wh¢re ne¢essary. and taking appropriate and timely action ensures ihe ¢harily acts robustly in its response to existing and emerging risks. The responsibility for providing guidance lo the Board on matters relating to risk is delegated to the CEO, who considers the subject of risk tnanagerllent in the wider context of charity tnanagetnent and governance. Risks are idcntified, rccordcd in a risk rcgister, and given ratings from low to high acLording to th¢ likelihood of their occurrence and the impact should they o¢eur. The risk register is dynamic, showing movement in risk ratings between periods, and incllides a traific light system to illustrate eonfidence in the control. The risk register is regularly reviewed by Trustees to ensure that control measures in place are appropriatc to tnitigatc cach risk. with on¢ Trustce appointcd as the Icad for Audit and Risk Management. 53 The Little Princess Trust Report and Audited Financial Statements Statement of Trustees, Responsibilities Structure, Governance and Management Thc Littlc Princess Trust was establishcd in 2005 and bcca]nc a registercd charity (numbcr 1113172) in Marcli 2006. In Deccinbcr 2017. the charity was incorporated ii)to a ncw. Charitsble Incorporatcd Organisation ('the new CIO, registratioii number 1176160). Effective from l August 2018, all of the assets, liabilities and activities of the previous charity Thith the same name were transferred to the new CIO. The charity is governed by its Constitution as a charitable iiicorporated orgaiiisation (CIO) registered ivith the Charity Commission on 7 Decetnber 2017. Organisational structure The Board of Trustees is responsible for the overall governance of The Little Princess Trust and iiieet at least four limes each year. The number of Trustees cannot be fewer than 3 or more than 12. If a vacancy arises, the trustees may appoint any eligible person as a Trustee. New Trustees are appointed by a resolution of Trustees p￿Sed at a properly conveiied meeting. In selecting future Trustees, account is taken of the skills, knowledge and experience needed for th¢ effective administration of the CIO. All n¢w Trust¢¢s ar¢ provided with an information pack in¢luding the Constitution and lalesl audited accounts. Each Trustee is given appropriate induction and training relevant to their responsibility. Trustees are also provided with regular briefings and information about relevant events. 54 The Little Princess Trust Report and Audited Financial Statements Statement of Trustees, Responsibilities The Trustee Board has established two sub-committees to provide advice, manage process, and deliver more detailed scrutiny of certain areas than is feasible and practicable within the Board's progratntne. Th¢ Board rcccivcs rc¥ular rcports on all aspects of the charitv's work. Thc Board's powcrs of authority, r¢mir and r¢sponsibiliti¢s del¢gat¢d 10 Ih¢s¢ ¢ommitt¢¢s ar¢ d¢fined in their r¢sp¢¢tiv¢ Ternis of Reference. Whilst the Board has delegated authority to the committees to make certain decisions and to make recommendations for approval, the Board retains overall accountability,. responsibility, and control. Each cotntnittee is 5UPPOrted by trusted advisors who provide advice in their field of expertise on a pro bono basi5. Th¢ terms of rcfcrcnce for thesc comtnittecs arc summariscd bclow. The Research Strategy and Funding Committee (the "RSFC") takes delegated responsibility on behalf of the Board for the research strategy and its delivery, ensuring that there is a framework for accountability and that the charity is working within AMRC rcquiremcllts and appropriate Ic¥al and ethical boundaries to fund research of the highest quality and of ihe greatest benefit. The Finance, Investment, Audit and Risk Committee (the "FAIRC") was established by the Board of Trustees to maintain an overview of, and provide advice on, the financial, administrative, and operational affairs of the charity. The committee takes delegated reswnsibility on behalf of the Board ofTruslees for ensuring that there is a trainework for accountability,. for exatllining and reviewing all systeins and tnelhods of control boih financial and othenvise including risk analysis and risk management- and for ensuriii¥ that the charity is cotnplying with all aspccts of the lam., relevant regulations, and good pr￿tICe. 55 The Little Princess Trust Report and Audited Financial Statements Statement of Trustees, Responsibilities Recruitment and appointment of newTrustees There were no new Trustee appointments during th¢ year and no Trusle¢s left in the 12-monih period. Authority to conduct The Little Princess Trust's day-to-day activities is delegated to the Chief Executive Officer, supported by the key management personnel named on page l. Remuneration policyfor key management personnel Thc Littlc Princess Trust pay review is based on a nutnber of broad coiiiplcxities. A benchmarking process of the cxtcn)al market is carried out which takcs inio accoulll Ihc cconomic environment and affordability for The Little Princess Trust. The Charity has a ]N)li¢y to pay all staff th¢ National Living wage as a minimum. All Trustees give of their time freely and no Trustee received remuneration in the year in their capacit), as a Trustee. Detsils of Trustees, expeiises and related paty transaclions are disclosed iii notes 9 and 23 to the accounts. 56 The Little Princess Trust Report and Audited Financial Statements Statement of Trustees, Responsibilities Statement of Trustees, Responsibilities The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102.. The Financial Reporting Standard applicable in the UK and Repiiblic of Ireland (United Kingdom Generally Accepted Accouiiling Practice). The laiv applicable to Charities in Eiigland and Wales requires the Trustees to prepare fiiiancial statements for each 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, of the charity for that period. In preparing the financial statements. the Trustees are required to.. Scl¢ct suitable accounting policics and th¢n apply thctn consistently. Observe the methods and principles in the applicable Charities SO1￿. Make judgements and estimates that are reasonable and prudent. State whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements: and Prepare the financial statements on ihe going concern basis unless it is inappropriate to prcsumc that the charity ivill continue in business. The Trustees are responsible for keeping proper a¢eounting re¢ords that dis¢lose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure thai the financial slatemenls comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and ihe provisions of the charity constiiution. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for thc prcvclllion and dcteclion of fraud and other irrc¥ularitics. 57 The Little Princess Trust Report and Audited Financial Statements Statement of Trustees, Responsibilities The Trustees are responsible for the maintenance and integrity of the charity and financial infomation included on the cl)arity's website. Legislation in the United Kingdom governing the preparation and dissemination of fiiiai)cial statetnents may differ from legislation in other jurisdictions. Approvcd by ordcr of thc Board of Trustces on l February 2025 and signcd on its bchalf by.. Tiw Wkeelet Tim Wheeler- Chair ofTrustees 58 Independent auditors. report To the trustees of The Little Princess Trust Opinion We have audited the financial statements of The Little Princess Trust Ithe 'charityl for the year ended 31 July 2024 which comprise the statement of financial aclivilies, balance sheet, statement of cash flows and the related notes lo 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, including Financial Reporting Standard 102." The Financial Reporting Stsndard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the slate of the charity's affairs as al 31 July 2024 and of ils incoming resources and application of resources, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice", and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Stsndards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilib.es under those standards are further described in the Auditorfs 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 the provisions available for small entities, in the circumstances sel out in note 9 to the financial statements, and we have fulfilled OLJr other ethical responsibilities in accordan￿ 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 concem In auditing the financial slatemenls, we have concluded that the Iruslees, use of the going Con￿rn 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 lo 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 ￿1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees wth respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 59 Independent auditors. report To the trustees of The Little Princess Trust In connection with our audit of the financial statements, our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsislenl with the financial statements or our kno￿edge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required lo determine whether there is a material misslatemenl in the financial statements or a material misslatemenl of the other information. If, based on the work we have performed, we conclude that there Is a material misstatement of this other information, we are required lo report that fact. We have nothing lo report in this regard. atters on which we are required to report by exception We have nothing lo report in respect of the following matters In relation to which the Charities (Accounts and Reports) Regulations 2008 require us lo report to you if, in our opinion.. the information given in the trustees, report is inconsistent in any material respect with the financial stalemenls,. or sufficient accounting records have not been kept", or the financial statements are not in agreement with the accounting records., or we have not received all the information and explanations we require for our audit. Responsibilities of the trustggs As explained more fully in the trustees, responsibilities statement sel out in the trustees, report, the trustees are responsible for the preparation of the financial slalements and for being satisfied that they give a true and fair view. and for such internal control as they 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 resF)onsible for assessing the charity s ability lo continue as a going COn￿rn, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or lo cease operations, or have no realistic alternative bul to do so. Our responslbllltles for the audlt of the flnanclal statements We have been appointed as auditor 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 misslalement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assufftnce, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delecl a material misslalement when it exists. Misstatements can arise from foud 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 ststemenls. 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 procedures we carried out and the extent to which they are capable of detecting irregularities, including fraud, are detailed below.. 60 Independent auditors. report To the trustees of The Little Princess Trust 111 We obtained an understanding of the legal and regulatory framework that the charity operates in, and assessed the risk of non-compliance with applicable laws and regulations. Throughout the audit, we remained alert lo possible indications of non-complian￿. 121 We reviewed the charity's policies and procedures in relation lo.. Identifying, evaluating and complying with laws and regulations, and whether they were aware of any Instsn￿s of non-compliance., Detecting and responding lo the risk of fraud, and whether they were aware of any actual, suspected or alleged fraud,. and Designing and Implementing Internal controls to miligale the risk of non-compliance with laws and regulations, including fraud. 131 We inspected the minutes of Iruslee meetings. 141 We enquired about any non-routine communication with regulators and reviewed any reports made to them. 151 We reviewed the financial statement disclosures and assessed their compliance with applicable laws and regulations. 161 We performed analytical proTrdures to identify any unusual or unexpected transactions or balances that may indicate a risk of material fraud or error. 171 We assessed the risk of fraud through management override of controls and carried out procedures to address this risk. Our procedures included.. Testing the appropriateness of journal entries", Assessing judgements and accounting eslimales for potential bias., Reviewing related party transactions", and Testing transactions that are unusual or outside the normal course of business. Because of the Inherent limitations of an audit, there 15 a risk that we will not delect all irregularities, including those leading lo a material misststemenl in the financial statements or non-compliance with regulation. Irregularities that arise due to fraud can be even harder to delect than those that arise from error as they may involve deliberate concealment or collusion. 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.uklauditorsresponsibilities. This description forms part of our audilorfs report. 61 Independent auditors. report To the trustees of The Little Princess Trust Use of our report This report is made solely to the charity's Iruslees, 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 lo the charity s trustees those matters we are reqUI￿d lo slate to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. 4ttJfr¥ Dale.. 1 February 2025 GODFREY WILSON LIMITED Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS14QD Godfrey Wilson Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. 62 The Little Princess Trust Statement of financial activities For the ear ended 31 Ju 2024 Restricted Unrestricted 2024 2023 Note Income from: Donations and I￿acleS Other trading activities Investments Other income 793,235 7,679,047 47,724 572,337 8,823 .472,282 47,724 572,337 8,823 6,077,600 14,366 334,849 36,962 Total income 793,235 8,307,931 9,101,166 6,463,777 Expenditure on: Raising funds Charitable activities.. Wigs Research 897,347 897,347 676,692 22,603 442,563 2,013,047 5,703,077 2,035,650 6.145,640 1,925,921 6,446,733 Total exponditure 465,166 8,613,471 9.078,637 9,049,346 Net gains I losses on investments 677,480 677,480 160,980 Not income l {gxponditure) and net movement in funds 328,069 371,940 700,009 {2,746,5491 Reconciliation of funds: Total funds brought forward 22,603 15,512,637 15,535,240 18,281,789 Total funds Carried fopward 350,672 15,884,577 16,235,249 15,535,240 All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those slated above. Movements in funds are disclosed in note 19 to the accounts. 63 The Little Princess Trust Balance sheet As at 31 Jul 2024 2024 2023 Note Fixed assets Tangible assets Investments 12 13 1,973,555 12.878,225 2,053,722 11,437,050 14,851,780 13,490,772 Current assets Stocks Debtors Current asset investments Cash at bank and in hand 14 15 1.695.110 619,832 3.983.030 1,436,660 1,254,368 207,849 7,166,882 7,734,632 8,629,099 Llabllltles Creditors.. amounts falling due within 1 year 16 4.690,691 4,074,366 Net current assets 3,043,941 4,554,733 Total assets less eurrent liabilities 17,895,721 18,045,505 Creditors. amounts falling due after more than 1 year 17 1.660.472 2,510,265 Net assets 18 16.235,249 15,535,240 Funds Restricted funds Unreslricled funds Designated funds General funds 19 350,672 22,603 10.050,649 5,833,928 10,553,722 4,958,915 Total charity funds 16.235,249 15,535,240 Approved by the trustees on 1 February 2025 and signed on their behalf by Tiw kvha8L8 Tim Wheeler - Chair 64 The Little Princess Trust Statement of Cash flows For the ear ended 31 Ju 2024 2024 2023 Note Cash used in operating activitios: Net Movement in funds 700,009 12,746,549} Adjustments for.. Depreciation Charges Net Igainsl I losses on disposal of assets Losses on investments Dividends, interest and rents from investments Increase in stock Decrease l {increasel in debtors (Decrease) l increase in creditors 106,105 88,213 125,662} 160.980 1334,849} 1120,7561 8,869 1162,9081 1677,480> 1572.337} 1440,742} 1411,983} 233,468 Net cash provlded by I lused Inl operatlng actlvltles 1,529,896) 3,132,662} Cash flows from Investlng actlvltles: Dividends, interest and rents from investments Purchase of tangible fixed assets Proceeds from the sale of investments Proceeds from the sale of fixed assets Purchase of investments 572,337 125.938} 13,426,485 334,849 1162,173} 3,535,599 26,000 3,780,550 1,594,767 Net cash used in investing activities 12,378,117 46,275 Increase I Idecreasel In cash and cash equlvalents In the year 10,848,221 13,178,937) Cash and cash equivalents at the beginning of the year 7,449,694 10,628,631 Cash and cash equivalents at the ond of the yoar 18.297,915 7,449,694 Analysis of cash and cash equivalents Cash at bank and in hand Cash held in current asset investments Cash held in investment portfolios 1,436,660 3.983.030 12,878,225 7,166,882 13 282,812 18.297.915 7,449,694 The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements. 65 The Little Princess Trust Notes to the financial statements For the ear ended 31 Ju 2024 Accounting policies al Basis of preparation The Little Princess Trust is a Charitable Incorporated Organisation registered in England and Wales. The registered office address is.. The Hannah Tarplee Building 22-25 Berrington Street Hereford Herefordshire HR4 OBJ The financial statements have been prepared in accordan￿ wth Accounting and Reporting by Charities". Statement of Recommended Practice applicable lo charities in preparing their accounts in a¢cordanTr with the Financial Reporting Stsndard applicable In the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191 _ Icharilies SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The Litue Princess Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy note. bl Going concem basis of accounting The accounts have been prepared on the assumption that the charity is able lo continue as going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity's abilty to continue as a going concern. cl Income Income is recognised when the charity has entillemenl to the funds, any perfomiance conditions attached to the item of income have been mel, it is probable that the income will be received and the amount can be measured reliably. Donations income from fundraising platforms is recognised on receipt of the funds into the charity's bank account. The charity intends lo recognise donations income from fundraising platforms on the date the gift is made when the systems are in place lo facilitate this. For legacies, entiuement is taken as the earlier of the date on which either.. the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executorlsl to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, 15 only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention lo make a distribution. Where legacies have been notified lo the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been mel, then the legacy is treated as a contingent asset and disclosed if material. 66 The Little Princess Trust Notes to the financial statements For the ear ended 31 Ju 2024 Accounting policies Icontinuedl dl Donated services and facilities Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item, Is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP IFRS 1021, general volunteer lime is not recognised. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift lo the charity which is the amount the charity would have been willing lo pay to obtain services or facilities of equivalent economic benefit on the open market, a corresponding amount is then recognised in expenditure in the period of receipt. el Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity.. this is normally upon notificab.on of the interest paid or payable by the bank. fj Fund$ accounting Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the Iruslees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are lo be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity. gl Expenditure and irrecoverable VAT Expenditure is recognised onTr there is a legal or constructive obligation lo make a payment to third paty, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. h) Grants payable and grant commitments Grants payable and grant commitments are recognised at the date the grant agreement is approved and signed by both the charity and the grant recipient. Grants are held at amortised cost using a cost of capital reflective of Market risk. 67 The Little Princess Trust Notes to the financial statements For the ear ended 31 Ju 2024 Accounting policies Icontinuedl il Allocation of support and governance costs Support costs are those functions that assist the work of the charity bul do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity's activities. Where these costs are not directly attributable to charitable aclivilies. they have been allocated be￿een cost of raising funds and expenditure on charitable activities on the basis of staff time, as shown below, or by use of resource such as space. 2024 31.OVo 63.0 10 2023 Raising funds Charitable activities Wigs Charitable activities - Research 7.5'10 Jl Tangible fixed assets Depreciation is provided al rates calculated lo write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows.. Freehold buildings 20/0 slraighl line Computer equipment 330/0 Straight line Office equipment 33010 Straight line Motor vehicles 330/0 Straight line Computer software 20910 Straight line Plant and equipment 100/0 Stoight line Items of equipment are capitslised where the purchase price exceeds £2,000. kl Investments Investments in quoted shares, traded bonds and similar investments are measured initially at cost and subsequently at fair value Ilheir market value). The ststemenl of financial activities includes the net gains and losses arising on revaluations and disposals throughout the year. 11 Stock stock is included al the lower of cost or net realisable value. Donated items of stock are recognised al fair value which is the amount the charity would have been willing to pay for the items on the open market. Donated hair is difficult to value in its raw stale as it needs to go through a preparation process before it can be used in wig making. ml Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. n) Current asset investments Current asset investments consist of cash held on deposit in interest bearing accounts. Such investments are measured al their fair value. ol Cash at bank and in hand Cash at bank and cash in hand includes cash and short temi highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. 68 The Little Princess Trust Notes to the financial statements For the ear ended 31 Ju 2024 Accounting policies Icontinuedl pl Creditors Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due lo settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised al their settlement amount after allowing for any trade discounts due. ql Financial 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 al transaction value and subsequently measured at their settlement value with the exception of bank loans, which are subsequently recognised at amortised cost using the effective interest method, and grants payable, which are held al amortised cost. rl Pension costs The charity operates a defined Contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOF sl Foreign currency transactions Transactions in foreign currencies are translated at rates prevailing at the date of the Iransaclion. Balances denominated in foreign currencies are translated at the rale of exchange prevailing at the year end. tl Accounting estimates and key judgements In the application of the charity's accounting policies, the trustees are required lo make judgements, eslimales and assumptions about the carying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 lo 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. The key SoUr￿S of estimation Un￿rtaInty that have a significant effect on the amounts recognised in the financial statements are depreciation (note 111, the valuation of donated stock (note 111 and the discount rale applied to long term grant payable commitments {nole 1 h). 69 The Little Princess Trust Notes to the financial statements For the ear ended 31 Ju 2024 Prior period comparatives.. statement of financial activities 2023 Total Reslricled Unreslricled Income from: Donations and legacies Other trading activities Investments other 56,000 6,021,600 14,366 334,849 36,962 6,077,600 14,366 334,849 36,962 Total income 56,000 6,407,777 6,463,777 Expenditure on: Raising funds Charitable activities Wigs Research 676,692 678,692 33,397 1,892,524 6,446,733 1,925,921 6,446,733 Totsl expenditure 33,397 9,015,949 9,049,346 Net losses on investments 160,980 160.980 Net income I (expenditure} and net movement in funds 22.603 2,769,152 2,746,549 Income from donations and legacies Reslricled Unrestricted Total 2024 Donations" Gift aid 793,235 6,571,036 1,108,011 7,364,271 1.108.011 Totsl from donations and lega¢ie$ 793.235 7,679,047 8.472,282 Prior period comparative: Reslricled Unrestricted Total 2023 Donations. Legacies Gift aid 56,000 5,331,888 2,232 687,480 5,387,888 2,232 687,480 56,000 6,021,600 6,077,600 70 The Little Princess Trust Notes to the financial statements For the ear ended 31 Ju 2024 Income from donations and legaeies {eontinued) 'Included within donations are gifts in kind comprising.. 2024 2023 Wigs and wig-relaled products Support for charity ball Equipment 108,033 34,138 1,716 5,795 143,887 5,795 Income from investments 2024 2023 Treasury account interest Dividends Deposit account Interest 267,584 179,037 125,716 246,306 88,543 Total from Investments 572,337 334,849 All income from investments in the current and prior year was unrestricted. Government grants The charity did not receive any government grants in the current or prior year to fund charitable activities. 71 ¢JJ LnwcD￿c￿¢Yl O NO¢DU)P)*** <00￿0? ON Q) tn OrO)*rfJ Ln a) to >tÉU)UQ￿c￿oWI￿[L￿ in in ly) u) in o u) Oa) (o (KI roo) (ryco rorcor0￿￿ ¢Dr ¢N Trl LOO l Ln (D I a) Ln o G) o(rycoN (7) LO r iN ¥la JllÈl The Little Princess Trust Notes to the financial $tstement$ For the ear ended 31 Jul 2024 7. Grants payable During the year, 17 12023.. 241 new grants re￿iVed approval to promote research into the causes of childhood cancers and into minimising the effects of chemotherapy on children. Total grants committed to during the year were as follows.. 2024 2023 Professorial post of Paediatric Oncology- Oxford University Children's Cancer and Leukaemia Group ICCLGI Movement in effective discounting ECMC Clinical Trial Network Grants withdrawn from institutions 3.500,000 2,411,237 90.681 4,411,734 1190,0781 2,250,000 199,971 52.123 5,949,795 6,271,685 Allocation of support costs to grant making activits'es is given in note 6. A breakdown of the research projects funded by the grants made to CCLG and ECMC during the year is given in note 24. 8. Grant commitments 2024 2023 Grant commitments brought forward Grants committed during the period (note 241 Grants paid during the period 6.379,940 5,949,795 6,182.765 6,578,858 6,271,685 6,470,603 Grant commitments carried forward Inoles 16 and 171 6.146,970 6,379,940 9. Net movement in funds This is staled after charging.. 2024 2023 Depreciation and loss on disposal Operating lease payments Trustees, remuneration Trustees, reimbursed expenses Auditors, remuneration (excluding VATI.. Statutory audit Other SeNi￿S 106.105 888 88,213 1,971 784 818 11,825 2,684 11,000 2,620 One trustee was reimbursed for expenses related to training, travel and sundry expenses 12023.. 1 Iruslee reimbursed for training, travel and sundry expenses). 74 The Little Princess Trust Notes to the financial $tstement$ For the ear ended 31 Jul 2024 9. Net movement in funds Icontinuedl In common with other charities of our size and nature we use our auditors to assist with the preparation of the financial statements. Our auditors have also provided payroll services lo the charity during the year. 10. Staff costs and numbers Staff costs were as follows.. 2024 2023 Salaries and wages Social security costs Pension costs 902,188 83,408 23,807 870,784 73,817 22,597 1.009.403 967,198 2024 No. 2023 No. Employees eaming more than £60,000 during the year. Between £60,000 and £70,000 Be￿een £70,000 and £80,000 Be￿een £80,000 and £90,000 The key management personnel of the charity comprise the Chief Executive Officer, the Director of Services and Impact, the Head of Operations and the Finan￿ Manager. The total employee benefits of the key management personnel were £266,26912023.' Chief Executive Officer, Director of Services and Impact, Head of Operations.. £194, 1561. 2024 No. 2023 No. Average head count Average full time equivalent 32 28 29 11. Taxation The charity is exempt from corporation lax as all its income is charitable and is applied for charitable purposes. 75 UJ The Little Princess Trust Notes to the financial $tstement$ For the ear ended 31 Jul 2024 13. Investments Listed investments Cash 2024 2023 Market value at 1 August 2023 Additions Disposals proceeds Gains I Ilossesl Movement in investment portfolio eash Investment in fixed term deposit accounts 11,154,238 1,594,767 113,426,485) 677,480 282,813 11,437,051 11,436,725 1,594.767 3,780,550 {13,426.4851 13,535,599} 677,480 1160.980} {282.8131 183,646} 12,878,225 1282,8131 12,878,225 Market value at 31 July 2024 12,878,225 12,878.225 11,437,050 Historical cost.. At31 July 11,460,440 Investments comprise.. Investment assets in the UK Investment assets outside the UK Cash 3,163,882 7,990,356 282,812 12,878.225 12,878,225 11,437,050 During the year, The Litue Princess Trust closed ils listed investment portfolio and desposited £12,878,225 in fixed term desposil accounts with a notice period of 365 days with the intention lo hold these funds for greater than 12 months. 14. Stock 2024 2023 Wigs Merchandise 1,646.063 49,047 1,215,546 38,822 1,695.110 1,254,368 77 The Little Princess Trust Notes to the financial $tstement$ For the ear ended 31 Jul 2024 15. Debtors 2024 2023 Trade debtors Accrued income Prepayments Other debtors 83 148,366 58,208 1,192 534.317 84.895 620 619.832 207,849 Amount due after more than one year included above 620 1,192 16. Creditors '. amounts dug Within one year 2024 2023 Trade creditors Grants payable Other laxalion and social security other creditors and accruals 131,812 4,486.498 19,370 53.011 124,045 3,869,675 20,602 60,044 4,690,691 4,074,366 17. Creditors: amounts duo after more than one year 2024 2023 Grants payable 1,660.472 2,510,265 78 The Little Princess Trust Notes to the financial $tstement$ For the ear ended 31 Jul 2024 18. Analysis of net assets between funds Restricted Designated funds funds General funds Total funds Tangible fixed assets Current assets Current liabilities Creditors falling due after one year 14,851,780 1,345,839 14,486,498) {1,660,472 14.851,780 6,038,121 7,734,632 1204, 1931 14,690.691) 1,660.472 350,672 Net assets at 31 July 2024 350,672 10,050,649 5,833,928 16,235,249 Restricted Designated funds funds General funds Prlor year comparatlve Total funds Tangible fixed assets Investments Current assets Current liabilities Creditors falling due after one year 2,053,722 8,500,000 6,379,940 {3,869,6751 2,510,265 2,053,722 2,937,050 11,437,050 2,226.556 8,629,099 1204,6911 14,074,366} 2,510,265 22,603 Nel assets al 31 July 2023 22,603 10,553,722 4,958,915 15,535,240 79 -111 (ti o u p) i ow) ￿Q￿l)￿Li The Little Princess Trust Notes to the financial $tstement$ For the ear ended 31 Jul 2024 19. Movements in funds leontinuedl Purposes of restrlcted funds The Julia and Hans Rausin Trust A don81ion from The Julia and Hans Rausing Trust to support the continued provision of The Little Princess Trust free wig provision service by contributing towards the salary of The Little Princess Trust wig fitter along with their associated annual vehicle costs and the supply of wig care boxes. Covid Recove Research Fund This fund represents a grant from the UK Government Post Covid Recovery Medical Research Charity Support Fund. The funding aims lo protect the pipeline of early career researchers and to help support the charity research sector regain ils pre Covid level of research and innovation investment in the UK. The fund is intended to be used within a 12 month period to support spending on new research rounds. Purposes of designated funds LPT Childhood Cancer Research Fund This fund is to enable the charity to fulfil ils strategic research objectives and make research funding commitments spanning multiple years. The transfer has been made to increase the balan￿ on the fund carried into 2024125 to match the awards expected to be made in that year and future years. Professorial osl of Paediatric Oncolo Oxford Universi £3.5m was designated to gift to the University of Oxford as an endowment which the University will use lo fund a permanent professorial post of Paediatric Oncology. Professorial osl of Paediatric Oncolo Birmin ham Universil £2m was designated to gift to the University of Birmingham as an endowment which the University will use to fund a permanent professorial post of Paedialric Oncology. Fixed Asset Fund The fixed asset designated fund represents the total value of fixed assets held by the charity at the year ended 31 July 2024. Fixed asset additions are represented as transfers into the fund. Depreciation and loss on disposal of assets are represented as expenditure. 20. Flnanclal Instruments at falr value 2024 2023 Financial assets measured at fair value- listed investments 12,878.225 11,437,050 82 The Little Princess Trust Notes to the financial $tstement$ For the ear ended 31 Jul 2024 21. Operating lease commitments The charity had operating leases at the year end with total future minimum lease payments as follows.. 2024 2023 Amount falling due.. Within 1 year Within 1 5 years 1,907 636 1,957 2,025 2.543 3,982 22. Capital commitments At 31 July 2024, capital expenditure commitments were as follows.. 2024 2023 Contracted but not provided for in the accounts.. Microsoft Dynamics project 23,899 At 31 July 2024 Little prIn￿sS Trust had no capital commitments. In the prior year Little prIn￿sS Trust had entered into a contractual agreement lo complete the implementation of Microsoft Dynamics CRM system all outstanding amounts were paid in the current year. 23. Related party transactions Caroline Shallow, a Iruslee, is Managing Director of R.H. Smith & Sons (Raoul Wigmakersl Limited Icompany number 011799681. During the year the charity made purchases of £114,657 12023". £105,296) with Raoul Wigmakers. At the year end, the charity had amounts due lo Raoul Wigmakers of £12,72012023.' £1791, which is included in trade creditors. All transactions were carried out al arms, length. 83 The Little Princess Trust Notes to the financial $tstement$ For the ear ended 31 Jul 2024 24. Research projects funded 2024 The following grants were made via CCLG, which allowed the following research projects lo be fully funded by The Little Princess Tmsl.. Institution Purpose of grant University of Glasgow Developing personalised treatments for childhood acute lymphoblastic leukaemia. How does T-cell acute lymphoblastic leukaemia go lo the brain? 5,637 University of Glasgow 19.351 Wellcome Sanger Institute The Litue Princess Knowledge Bank of Wilms Tumour. Great Ormond Street UMBRELLA plus.. study designed for the Hospital for Children implementation, evaluation, and development of molecular driven treatment In children with renal tumours. 77,060 702,390 Swansea University Pharmacological targeting of the mitochondrial serine protease, ClpP for T-cell acute lymphoblastic leukaemia therapy. 230,943 University of Cambridge Exploring the functional role and Iherapeulic potential of dysregulated small non-coding RNA IsncRNAI expression in malignant germ cell lumours. 348,341 University of Birmingham Understanding the origins of paedialric hepatocellular careinoma. 39,491 University of Glasgow Dissecting molecular profiles of childhood acute myeloid leukaemia for CD180 biomarker validation. 117,675 Sub-total Carried forward 1,540,888 84 The Little Princess Trust Notes to the financial $tstement$ For the ear ended 31 Jul 2024 24. Research projects funded {continued} 2024 Sub-total brought for•vard 1.540.888 Institution Purpose of grant UCL Great Ormond Investigating the interaction be￿een lymphatic Streèt Institute of Child vasculalure and the tumour microenvironment in Health childhood kidney cancer and its prognostic implications. 241,169 University of Birmingham Near Infra-red fluorescence in Wilms tumour organoids. 186,618 UCL GOSH Inst of Child Health Development of an allogeneic V-della-1 gamma delts T chimeric antigen receptor cell product for childhood solid cancers. 89.721 University of Leeds Inhibiting Replication of Circular DNA.. A New Way to Suppress Relapse of Childhood Acute Lymphoblasb'c Leukaemia? 61.556 The Institute for Cancer Research Decoding Neuroblastoma-macrophage co-evolulion for Translational Advancements. 61.256 University of Nottingham Understanding how childhood cancers spread. 49,565 University of Cambridge Tumour Defenders at the Brain's Edge.. Elucidating the Contribution of Brain-Border Derived Antigen Presenting HSPCS in Immunolo1eran￿ of Paedialric Ependymoma. Evaluating the Iherapeulic potential and molecular mechanism of apilimod-induced ectopic C-MET localisalion in paedialric cancers. 44,937 King's College London 74,458 University of Bristol Using splice-swilching oligonucleolides lo inhibit tumour cell growth. Sub-total.. grants made to CCLG Some researGh gTrnts app￿Ved in eartier years have been returned to the charrty via CCLG, as detailed below. 61,069 2,411,237 CCLG Combined underspends on research projects. Sub-total. gmnls made to CCLG less funds returned The following grants were paid directly lo the institution.. 52.123 2.359,114 Institutlon University of Oxford Purpose of grant Gift to the University of Oxford as an endowment which the University will use to fund a permanent professorial post of Paediatric Oncology. Movement in effective discounting 3.500,000 90.681 Total grants payablg 5.949,795 85