Docusign Envelope ID.. 801E5198-76174001-BOOB-3AD85C050F4B THE SYDNEY BRENNER CHARITABLE TRUST FINANCIAL STATEMENTS 31 MARCH 2025 Charity Number 1185278
Docusign Envelope ID.. 801E5198-76174001-BOOB-3AD85C050F4B THE SYDNEY BRENNER CHARITABLE TRUST CHARITY INFORMATION Charity number: 1185278 Trustees Profe550r Michael Hayden Philip Goelet Sir David Keith Peters David Jame5 Roper Robinson Professor Timothy Martin Cox Carla Lisa Brenner Roach Principal Office 22 Baker Street London WIU 3BW Independent Examiner Adam Fullerton Moore Kingston Smith LLP 9 Appold Street London EC2A 2AP Bankers C. Hoare &Co. 32 Lowdndes Street London 5WIX 9HZ
Docusign Envelope ID.. 801E5198-76174001-BOOB-3AD85C050F4B THE SYDNEY BRENNER CHARITABLE TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 CONTENTS PAGE Trustees, Annual Report Independent Examiner's Report Statement of Financial Activities Balance sheet Notes to the financial statements 10-15
Docusign Envelope ID.. 801E5198-76174001-BOOB-3AD85C050F4B THE SYDNEY BRENNER CHARITABLE TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 THE SYDNEY BRENNER CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31S1 Morch 2025 Objectives and activities The objects of the charity are to advance education for the benefit of the public in the field of medical research by.. a. promoting and funding medical research projects through the provision of grants to young medical researchers seeking by their research to prevent disease or disability or to heal or relieve the effects of disease or disability,. and b. by such other charitable means as the Trustees may from time to time see fit. The objects are Current achieved through.. the provision of fellowships in accordance with a Memorandum of Agreement between the charity and the University of the Witwater5randl"Wits"I, Johannesburg, South Africa,. and a loan agreement between the charity and the VIVA Foundation for Children with Cancer I'the VIVA Foundation"), based in Singapore. Achievements. performance and public benef5t The tru5tee5 are aware of the Charity Commission's guidance on public benefit. In association with Wits. the charity has provided the necessary living expenses. start-up research funding, six months, UK accommodation and conference and travel expenses for two three-year post- dortoral research felltswships. The trustees are satisfied that these activities accord with the charitys objectives and provide public benefit.
Docusign Envelope ID.. 801E5198-76174001-BOOB-3AD85C050F4B THE SYDNEY BRENNER CHARITABLE TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 Financial review The charity's expenditure for the year included bank charges, accountants, fees and a payment of £63.534 to Wits by way of agreed fellowship funding. The charity does not have any debts. The principal funding source for the charity is donations. ReseNes pollcy At year end the trust had reserves of £447,744. These are being held in order to meetfuture payments as they fall due mainly in relation to Sydney Brenner Fellowship grants. Structure. management and recrultment of trustees The charity was established ès a charitable trust by a deed dated 26th April 2019. The tharity holds a bank account with C Hoare & Co from which payments are made with the trustees, authority only. The trLJStees who served during the year and up to the date of signature of the finantial statements were.. Professor Michael Hayden Philip Goelet David James Roper Robinson Sir David Keith Peters Professor Timothy Martin Cox Carla Lisa Brenner Roach There must be at least three and there may be up to six trustees. Future trustees must be appointed by resolution of the trustees. Every future trustee must sign a declaration of willingness to act as a trustee of the trust before he or she is eligible to vote at any meeting of the trustees.
Docusign Envelope ID.. 801E5198-76174001-BOOB-3AD85C050F4B THE SYDNEY BRENNER CHARITABLE TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 There are no related parties other than the trustees. The principal office address of the charity is 22 Baker Street, London WIU 3BW. 29th Jan 2026 Approved by the Trustees on ............ and signed on their behalf by.. David Robinson (Trusteel
Docusign Envelope ID.. 801E5198-76174001-BOOB-3AD85C050F4B THE SYDNEY BRENNER CHARITABLE TRUST Independent Examiner's Report Year ended 31 March 2025 I report to the trustees on my examination of the financial statements of the Sydney Brenner Charitable Trust I'the charity'l for the year ended 31 March 2025. Responslbllltles and basss of report A5 the trustees of the company, you are responsible for the preparation of the financial 5tatement5 in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examination of the Trustee'5 accounts carried out under Section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examlner's statement Since the charivs gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l a member of the ICAEW, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act.. or the financial statements do not accord with those records- or the financial statements do not comply with the applicable requirements concerning the form and content of the accounts set out in The Charities (Accounts and Reports) Regulations 2008 Act other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connettion with the examination to which attention should be drawn in thi5 report to enable a proper understanding of the accounts to be reached. Adam Fullerton Moore KinBSton Smith LLP 9 Appold Street London EC2A 2AP Date.. 30 January 2026
Docusign Envelope ID.. 801E5198-76174001-BOOB-3AD85C050F4B THE SYDNEY BRENNER CHARITABLE TRUST Statement of Financial Activities Year ended 31 March 2025 2025 2024 Unrestrirted Unrestricted funds funds Note Income and endowment5 Donations and royalties Investment income 27S.454 1,876 363,905 2,312 Total income 277.330 366,217 Expenditurè Expenditure on charitable activities 73.238 225,677 Total expenditurè 73,238 225,677 Net income and net movement in funds 204.092 140,540 Reconciliation of fund5 Total funds brought forward 243.652 103,112 Total funds carried forward 447,744 243,652 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Docusign Envelope ID.. 801E5198-76174001-BOOB-3AD85C050F4B THE SYDNEY BRENNER CHARITABLE TRUST Balance Sheet 31 March 2025 2025 2024 Note Fixed assets Tangible fixed assets loo.000 loo,000 Current assets Cash at bank and in hand 353.324 150.372 353.324 150,372 Credltors: amounts falllng due within one Year 5,580 6,720 Net current assets 347.744 143,652 Total assets less current liabilities 447,744 243,652 Net assets 447.744 243,652 Funds of the charlty Unrestricted funds 447,744 243,652 Total charlty funds 447.744 243,652 These financial statements were approved by the board of trustees and authorised for issue on 30th Jan 2026 and are signed on behalf of the board bv.. S*•dby.' ED6DAElB£9 . David Robinson (Trustee)
Docusign Envelope ID.. 801E5198-76174001-BOOB-3AD85C050F4B THE SYDNEY BRENNER CHARITABLE TRUST Notes to the Financial Statements (continued) Year ended 31 March 2025 Accountlng pollcles Basis of preparation These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable IN the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 Icharities SORP IFRS 10211 and the Charities Act 2011. The financial statements have been prepared to give a 'true and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view,. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 effective l Januèry 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from l April 2005 which has since been withdrawn. The charity is an unincorporated charity that meets the definition of a public benefit entitv under FRS 102. The re8lStration number of the charity is 1185278. The functional currency of the charity is considered to be pounds sterling because that is the eurrency of the primary economic environment in which the TrLJSt operates. The financial statements are also presented in pounds sterling. Amounts are presented to the nearest £, unless othenlSe stated. Goin8 conrn The Trustees have considered the ability of the Trust to continue as a going concern. The trustee5 consider that there are no material uncertaintie5 about the charity's ability to continue as a going concern for at least twelve months from the date of approving the accounts. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restrirted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal. 101 Page
Docusign Envelope ID.. 801E5198-76174001-BOOB-3AD85C050F4B THE SYDNEY BRENNER CHARITABLE TRUST Notes to the Financial Statements (continued) Year ended 31 March 2025 Accountlng pollcles (contlnuedj Income All income is included in the statement of financial activities when entitlement has passed to the charity,. it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift. receipt is probable and its amount can be measured reliablv. Expendlture Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and 15 classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds include5 the cost5 of all fundraising activitie5, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities include5 all cost5 incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries. including those support costs and costs relating to the governance of the charity apportioned to charitable other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activitie5. All costs are allocated to expenditure categories reflecting the use of the resource. Dirert costs attributableto a single activity are allocated directly to that activity- Shared c05t5 are apportioned between the artivities they contribute to Dn a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation ènd impairment losses. Any tangible assets tarried at revalued èmounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreciation Depreciation is calculated so as towrite off the cost or valuation of an asset, less its residual value. over the useful economic life of that asset. No cla55 of assets are currently being depreciated. Ill Page
Docusign Envelope ID.. 801E5198-76174001-BOOB-3AD85C050F4B THE SYDNEY BRENNER CHARITABLE TRUST Notes to the Financial Statements (continued) Year ended 31 March 2025 Accountlng pollcles (contlnuedj Impairment of fixed assets A review for indicètors of impairment is carried out at each reporting date, with the recoverable amount bein8 estimated where such indicator5 exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset. an estimate is made of the recoverable amount of the cash- generating unit to which the asset belongs. The ca5h-generating unit IS the smallest Identifiable group Df assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets Dr groups of assets. Cash flow statement The charity hès taken advantage tsf the exemption in the Charities SORP FRS 102 frtsm the requirement to produce a cash flow Statement on the grounds that it is a small charitv. 121 Page
Docusign Envelope ID.. 801E5198-76174001-BOOB-3AD85C050F4B THE SYDNEY BRENNER CHARITABLE TRUST Notes to the Financial Statements (continued) Year ended 31 March 2025 Donation5 and royalties Unrestricted Unrestricted Funds 2025 Funds 2024 Donations Royalties 275.309 145 363,751 154 Total 275.454 363,905 Investment Income Unrestrlcted Funds 2025 Total Funds 2024 Bank interest receivable 1,876 2,312 Expendlture on charltable actlvltles by fund type Unrestrirted funds 2025 Unrestrirted funds 2024 Costs Grants Bank Charges Accountancy Legal and professional fees Asset Impairment 63,534 410 6,114 3.180 70,747 430 4,500 1S0.OOQ Totsl 73,238 225,677 Included in accountancy are independent examination fees totalling £4,65012024= £4,500). Staff tosts The charity employs no staff. Trustee remuneration and expense5 No trustees received any remuneration during the period or reclaimed any expenses. 131 Page
Docusign Envelope ID.. 801E5198-76174001-BOOB-3AD85C050F4B THE SYDNEY BRENNER CHARITABLE TRUST Notes to the Financial Statements (continued) Year ended 31 March 2025 Tangible fixed assets Medals Total Cost At l April 2024 Additions 250,000 250,000 At 31 March 2025 250,000 250.000 Depreclatlon/lmpalmient At l April 2024 150,000 150,000 Charge for the year At 31 March 2025 150,000 150,000 Carrying amount At 31 March 2025 loo,000 100,000 At 31 March 2024 loo,000 loo,000 In November 2023, the charity purchased the Nobel Prize medal of the late Sydney Brenner from the late Sydney Brenner's personal representstive. The charity then entered into a loan agreement with the VIVA Foundation for Children with Cancer (Singaporean Charity UEN.. 2fx160178EI by which it would borrow the Nobel and use it as part of its fundraising efforts. The Loan is for a period of 30 years, with 10 year break clauses and provides that the VIVA Foundation will establish "the Sydney Brenner VIVA Training Award Endowment Fund" The VIVA Foundation plans to raise over £lm to sponsor travel and researth fellowships for young scientists. The Viva Foundation 15 responsible for upkeep and insuring the property for this period. As the charity cannot use the medal freely during the term of the loan. the medal was impaired in 2023/24. The value of £1,000 will not be depreciated and represent5 the charities right to recall the medal periodically to asslst with their charitable purpose a5 well a5 being a conservative value if the medal was sold. 141 Page
Docusign Envelope ID.. 801E5198-76174001-BOOB-3AD85C050F4B THE SYDNEY BRENNER CHARITABLE TRUST Notes to the Financial Statements (continued) Year ended 31 March 2025 Creditors: amounts fallinB due within one year 2025 2024 Accruals Grants Payable 6,720 5,580 6,720 Related PartyTransa¢tlons As described in note 7, during the prioryear the charity purchased the Nobel Prize medal from the late Sydney Brenner's Estate for £250,000. One of the Trustees is a beneficiary of the estate. As such they did not vote on the purchase of the Medal. Furthermore an independent valuation was carried out in 2023124 to ensure the medals were valued at a fair price. Now it is valued at £lOO,O(xI. There are no further related party transactions in the current or prior year that require disclosure under FRS 102. 151 Page