DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 **Charity registration number :1194608** **Company registration number CE025306 (England and Wales)** **THE CANCER TREATMENT AND RESEARCH TRUST CIO ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 ## **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **CONTENTS** ||**Page**| |---|---| |Trustees report|1 - 10| |Independent auditor's report|11 - 13| |Statement of financial activities|14| |Balance sheet|15 - 16| |Notes to the financial statements|17 - 23| DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 ## **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **TRUSTEES REPORT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the FinancialReporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **INCORPORATION** The charitable company was incorporated on 27 May 2021 and commenced trading on 1 January 2022. ## **Objectives** ## **Objectives and aims** The Cancer Treatment and Research Trust (CTRT) which was founded in 1985, supports work mainly in the departments of medical oncology at the West London Cancer Centre based at Charing Cross & Hammersmith Hospital and in the department of medical oncology at the Mount Vernon Cancer Centre, in Northwood, Middlesex. The CTRT exists to support treatment and research into many forms of malignant disease and has been particularly involved in understanding how certain cancers develop, finding better ways to monitor them and developing new anti-cancer agents. It remains committed to funding research that is not adequately funded either by the major cancer charities such as CRUK, the MRC or the pharmaceutical industry. ## **Public benefit** The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charities Commission for England and Wales. ## **Achievements and performance** ## _Significant activities and achievements against objectives_ ## **Charitable activities** The trustees are pleased with the achievements and performance of the Trust in 2022. In 2022 CTRT contributed to funding for: Mount Vernon Cancer Centre: - A Clinical research fellow undertaking a PhD at Brunel University - A Laboratory technician at Brunel University working on liquid biomarkers - Bench fees for a further PhD student at Brunel University - Part-time administrator for Rare Neoplasms of Gynaecological Origin, a UK-wide tissue and data bank of patients with specified rare gynaecological cancers ## Charing Cross and Hammersmith Hospitals: - A PhD student studying the molecular genetics of epithelioid and placental site trophoblastic tumours. She won the best scientific presentation prize for this work at the ISSTD meeting in Sydney Australia in Oct'22 - A post-doctoral fellow working on developing a new liquid biopsy test to differentiate between patients suffering from gestational verses non-gestational cancers - A PhD student and post-doctoral fellow working on our novel cancer target RSK4 - A technician working on immunotherapy for lung and trophoblastic cancers The research supported by the CTRT can be roughly split into the following areas: - Ovarian, uterine and rare gynaecological cancers - Lung Cancer - Germ Cell Cancers - Gestational Trophoblastic Disease - Melanoma - Urological Cancers which include renal, testicular, bladder and prostate - Immunotherapy and novel therapies Details about the research, together with the relevant publications and studies, are available on the Trust's website - cancertreatment.org.uk - 1 - DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 ## **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **Financial review** ## **Financial position** The financial results for the year are as shown in the financial section of this report and cover accounting period of 12 months from 01 January 2022 to 31st December 2022. The carry forward funds as at 31st December 2022 amounted to £1,228,775, of which was £686,780 was unrestricted and £541,995 was restricted. ## _Reserves policy_ Sufficient reserves are maintained to ensure that all expenses, as well as future research costs, are covered in the event no donations are received in any one year. For many years the CTRT received funds to pay for research staff running clinical trials from pharmaceutical companies and trial organisations. Increasingly these funds have been paid directly to support the local NHS Trusts who employ these staff. As of 1st January 2008 the accounts related to Mount Vernon Cancer Centre only include income and expenses actually paid into or out of CTRT accounts. ## _Major risks_ ## **Principal risks and uncertainties** The financial results for the year are as shown in the financial section of this report and cover accounting period of 12 months from 01 January 2022 to 31st December 2022. The carry forward funds as at 31st December 2022 amounted to £1,228,775, of which was £686,780 was unrestricted and £541,995 was restricted. ## **Financial and risk management objectives and policies** The Trustees are aware of the risks affecting the Trust and its work and have ensured that policies are in place to mitigate the effect of these risks ## **Financial risks and Investment** A key aim of the Board is to ensure CTRT holds adequate reserves for working capital purposes and has sufficient funds to meet contractual liabilities and winding down costs, if the organisation were to close. This includes redundancy pay, amounts due to creditors and commitments under contracts. CTRT's level of reserves also helps the organisation to plan expenditure against variations in the way funding is received. To balance the uncertainty of funding, our policy is to maintain financial reserves to cover these costs and allow for an orderly wind down. The current estimate of these costs is c £20,000 - £30,000. Without current level of support from our individual donors and based on current expenditure levels, CTRT is estimated to still remain in a position to cover these costs for the coming 12 months as our unrestricted reserves stand at about £6,86,780. ## **Plans for future periods** ## **Governance structure** On the 1 January 2022 the Charity took over the assets, liabilities and activities of a charitable trust named The Cancer Treatment and Research Trust (charity number 292909). The new structure of a CIO gives the Charity a robust and more formal structure to operate under. The accounts have been prepared using merger accounting – see note 1.12 for more detailed information regarding this. ## **STRATEGIC REPORT Future plans** ## **Plans for research** CTRT will continue to support a diverse variety of research into several different types of cancer including lung and urological cancers, alongside less common types of ovarian, uterine, melanoma and also very rare cancers such as gestational trophoblastic disease, germ cell tumours and rare gynaecological cancers. Our research supports clinical studies as well as laboratory focused work such as developing novel biomarkers. Immunotherapy continues to be a major area of interest in the cancer world and CTRT supports research studying the effects of immunotherapy in gestational trophoblastic disease, lung and renal cancers. Details of previous research and further details about existing projects can be found on the website. - 2 - DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 ## **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company,limited by guarantee, as defined by the Companies Act 2006. The Cancer Treatment and Research Trust CIO (CTRT) which was founded in 1985, supports work mainly in the departments of medical oncology at the West London Cancer Centre based at Charing Cross and Hammersmith Hospitals (Imperial College Healthcare NHS Trust) and in the department of medical oncology at the Mount Vernon Cancer Centre, in Northwood, Middlesex. The charity has been controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## **Trustees** The CTRT Board of Trustees is made up of 9 professionals with legal or medical backgrounds. Cancer physicians dominate, in line with the aims of the charity. CTRT welcomed a new trustee in 2022, Kiran Grewal, with a background in programme directorship at large corporations including HSBC. She brings significant financial and governance experience to the board. ## **Administration** On the 1 January 2022 the Charity took over the assets, liabilities and activities of a charitable trust named The Cancer Treatment and Research Trust (charity number 292909). The new structure of a CIO gives the Charity a robust and more formal structure to operate under. A new Trust Administrator (Mrs Laura Brown) was appointed in June 2022 to replace the prior Trust Administrator (Mrs Anna Hoggett). - 3 - DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 ## **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ Structure, governance and management The review of governance structure, policies and procedures was commenced and following that review, any recommendations made and agreed upon by the trustees will be implemented in the authorised order. Research, either totally or partly funded by CTRT led to 50 publications in 2022. 1.A multicentre study of pembrolizumab time-of-day infusion patterns and clinical outcomes in non-small-cell lung cancer: too soon to promote morning infusions. Cortellini A, Barrichello APC, Alessi JV, Ricciuti B, Vaz VR, Newsom-Davis T, Evans JS, Lamberti G, Pecci F, Viola P, D'Alessio A, Fulgenzi CAM, Awad MM, Pinato DJ. Ann Oncol. 2022 Nov;33(11):1202-1204. doi:10.1016/j.annonc.2022.07.1851. Epub 2022 Aug 8. PMID: 35953005. 2.A North-West London Experience of the Impact of Treatment Related Toxicity on Clinical Outcomes of Elderly Patients with Germ Cell Tumors. Sharma A, Morrison L, Milic M, Ghose A, Gogbashian A, Vasdev N,Agarwal S, Pullar B, Rustin G. Cancers (Basel). 2022 Oct 11;14(20):4977. 3.Antibiotic-dependent effect of probiotics in patients with non-small cell lung cancer treated with PD-1 checkpoint blockade. Takada K, Buti S, Bersanelli M, Shimokawa M, Takamori S, Matsubara T, Takenaka T,Okamoto T, Hamatake M, Tsuchiya-Kawano Y, Otsubo K, Nakanishi Y, Okamoto I, Pinato DJ, Cortellini A,Yoshizumi T. Eur J Cancer. 2022 Sep;172:199-208. doi: 10.1016/j.ejca.2022.06.002. Epub 2022 Jun 30.PMID: 35780526. 4.Antibiotic Exposure and Immune Checkpoint Inhibitors in Patients With NSCLC: The Backbone Matters. Cortellini A, Facchinetti F, Derosa L, Pinato DJ. J Thorac Oncol. 2022 Jun;17(6):739-741. doi: 10.1016/j.jtho.2022.03.016. PMID: 35623673. 5.Association Between Sites of Metastasis and Outcomes With Immune Checkpoint Inhibitors in Advanced Urothelial Carcinoma. Makrakis D, Talukder R, Lin GI, Diamantopoulos LN, Dawsey S, Gupta S, Carril-Ajuria L, Castellano D, de Kouchkovsky I, Koshkin VS, Park JJ, Alva A, Bilen MA, Stewart TF, McKay RR, Tripathi N, Agarwal N, Vather-Wu N, Zakharia Y, Morales-Barrera R, Devitt ME, Cortellini A, Fulgenzi CAM,Pinato DJ, Nelson A, Hoimes CJ, Gupta K, Gartrell BA, Sankin A, Tripathi A, Zakopoulou R, Bamias A, Murgic J, Fröbe A,Rodriguez-Vida A, Drakaki A, Liu S, Lu E, Kumar V, Lorenzo GD, Joshi M, Isaacsson-Velho P, Buznego LA, Duran I, Moses M, Jang A, Barata P, Sonpavde G, Yu EY, Montgomery RB, Grivas P, Khaki AR. Clin Genitourin Cancer. 2022 Oct;20(5):e440e452. doi: 10.1016/j.clgc.2022.06.001. Epub 2022 Jun 5. PMID: 35778337. 6.Association of the Time to Immune Checkpoint Inhibitor (ICI) Initiation and Outcomes With Second Line ICI in Patients With Advanced Urothelial Carcinoma. Talukder R, Makrakis D, Lin GI, Diamantopoulos LN, Dawsey S, Gupta S, Carril-Ajuria L, Castellano D, de Kouchkovsky I, Jindal T, Koshkin VS, Park JJ, Alva A, Bilen MA, Stewart TF, McKay RR, Tripathi N, Agarwal N, Vather-Wu N, Zakharia Y, Morales-Barrera R, Devitt ME, Cortellini A, Fulgenzi CAM, Pinato DJ, Nelson A, Hoimes CJ, Gupta K, Gartrell BA, Sankin A, Tripathi A, Zakopoulou R, Bamias A, Murgic J, Fröbe A, Rodriguez-Vida A, Drakaki A, Liu S, Lu E, Kumar V, Lorenzo GD, Joshi M, Isaacsson-Velho P, Buznego LA, Duran I, Moses M, Barata P, Sonpavde G, Wright JL, Yu EY, Montgomery RB, Hsieh AC, Grivas P, Khaki AR. Clin Genitourin Cancer. 2022 Dec;20(6):558-567. doi: 10.1016/j.clgc.2022.08.006. Epub 2022 Aug 19. PMID: 36155169. 7.Atezolizumab plus bevacizumab versus lenvatinib or sorafenib in non-viral unresectable hepatocellular carcinoma: an international propensity score matching analysis. Rimini M, Rimassa L, Ueshima K, Burgio V, Shigeo S, Tada T, Suda G, Yoo C, Cheon J, Pinato DJ, Lonardi S, Scartozzi M, Iavarone M, Di Costanzo GG, Marra F, Soldà C, Tamburini E, Piscaglia F, Masi G, Cabibbo G, Foschi FG, Silletta M, Pressiani T, Nishida N, Iwamoto H, Sakamoto N, Ryoo BY, Chon HJ, Claudia F, Niizeki T, Sho T, Kang B, D'Alessio A, Kumada T, Hiraoka A, Hirooka M, Kariyama K, Tani J, Atsukawa M, Takaguchi K, Itobayashi E, Fukunishi S, Tsuji K,Ishikawa T, Tajiri K, Ochi H, Yasuda S, Toyoda H, Ogawa C, Nishimur T, Hatanaka T, Kakizaki S, Shimada N,Kawata K, Tanaka T, Ohama H, Nouso K, Morishita A, Tsutsui A, Nagano T, Itokawa N, Okubo T, Arai T, Imai M, Naganuma A, Koizumi Y, Nakamura S, Joko K, Iijima H, Hiasa Y, Pedica F, De Cobelli F, Ratti F, Aldrighetti L, Kudo M, Cascinu S, Casadei-Gardini A. ESMO Open. 2022 Dec;7(6):100591. doi: 10.1016/j.esmoop.2022.100591. Epub 2022 Oct 6. PMID: 36208496. 8.ATR and CDK4/6 Inhibition Target the Growth of Methotrexate-Resistant Choriocarcinoma. Georgiou M, Ntavelou P, Stokes W, Roy R, Maher GJ, Stoilova T, Choo JAMY, Rakhit CP, Martins M, Ajuh P, Horowitz N, Berkowitz RS, Elias K, Seckl MJ, Pardo OE.Oncogene. 2022 Apr;41(18):2540-2554. doi: 10.1038/s41388-022-02251-8. Epub 2022 Mar 18.PMID: 35301407. 9.Avelumab Plus Axitinib as First-Line Therapy for Advanced Renal Cell Carcinoma: Long-Term Results from the JAVELIN Renal 100 Phase Ib Trial. Larkin J, Oya M, Martignoni M, Thistlethwaite F, Nathan P, Ornstein MC, Powles T, Beckermann KE, Balar AV, McDermott D, Gupta S, Philips GK, Gordon MS, Uemura H, Tomita Y, Wang J, - 4 - Michelon E, di Pietro A, Choueiri TK. Oncologist. 2022 Dec 28:oyac243. doi: 10.1093/oncolo/oyac243. DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 ## **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ 10.Circulating inflammatory proteins associate with response to immune checkpoint inhibition therapy in patients with advanced melanoma. Rossi N, Lee KA, Bermudez MV, Visconti A, Thomas AM, Bolte LA, Björk JR, de Ruijter LK, Newton-Bishop J, Harland M, Shaw HM, Harries M, Sacco J, Board R, Lorigan P, de Vries EGE, Segata N, Taams L, Papa S, Spector TD, Nathan P, Weersma RK, Hospers GAP, Fehrmann RSN, Bataille V, Falchi M. EBioMedicine. 2022 Sep;83:104235. 11.Clinical and molecular response to tebentafusp in previously treated patients with metastatic uveal melanoma: a phase 2 trial. Carvajal RD, Butler MO, Shoushtari AN, Hassel JC, Ikeguchi A, Hernandez-Aya L,Nathan P, Hamid O, Piulats JM, Rioth M, Johnson DB, Luke JJ, Espinosa E, Leyvraz S, Collins L, Goodall HM,Ranade K, Holland C, Abdullah SE, Sacco JJ, Sato T. Nature Med 2022 Nov;28(11):2364-2373. doi:10.1038/s41591-022-02015-7. Epub 2022 Oct 13. 12.Clinical Utility of Albumin Bilirubin Grade as a Prognostic Marker in Patients with Hepatocellular Carcinoma Undergoing Transarterial Chemoembolization: a Systematic Review and Meta-analysis. Mishra G, Majeed A, Dev A, Eslick GD, Pinato DJ, Izumoto H, Hiraoka A, Huo TI, Liu PH, Johnson PJ, Roberts SK. J Gastrointest Cancer. 2023 Jun;54(2):420-432. doi: 10.1007/s12029-022-00832-0. Epub 2022 May 30. PMID: 35635637 Review. 13.Comparative efficacy of novel combination strategies for unresectable hepatocellular carcinoma: Anetwork metanalysis of phase III trials. Fulgenzi CAM, D'Alessio A, Airoldi C, Scotti L, Demirtas CO, Gennari A, Cortellini A, Pinato DJ. Eur J Cancer. 2022 Oct;174:57-67. doi: 10.1016/j.ejca.2022.06.058. Epub 2022 Aug 12. PMID: 35970037. 14.COSMIC-312: mounting immunotherapy enigmas for hepatocellular carcinoma. Cabibbo G, Celsa C, D'Alessio A, Fulgenzi CAM, Pinato DJ. Lancet Oncol. 2022 Oct;23(10):e441. doi: 10.1016/S1470-2045(22)00497-1. PMID: 36174622. 15.Cross-cohort gut microbiome associations with immune checkpoint inhibitor response in advanced melanoma. Lee KA, Thomas AM, Bolte LA, Björk JR, de Ruijter LK, Armanini F, Asnicar F, Blanco-Miguez A, Board R, Calbet-Llopart N, Derosa L, Dhomen N, Brooks K, Harland M, Harries M, Leeming ER, Lorigan P, Manghi P, Marais R, Newton-Bishop J, Nezi L, Pinto F, Potrony M, Puig S, Serra-Bellver P, Shaw HM, Tamburini S, Valpione S, Vijay A, Waldron L, Zitvogel L, Zolfo M, de Vries EGE, Nathan P, Fehrmann RSN, Bataille V, Hospers GAP, Spector TD, Weersma RK, Segata N. Nature Med. 2022 Mar;28(3):535-544. 16.Determinants of long COVID among adults hospitalized for SARS-CoV-2 infection: A prospective cohort study. Bellan M, Apostolo D, Albè A, Crevola M, Errica N, Ratano G, Tonello S, Minisini R, D'Onghia D, Baricich A, Patrucco F, Zeppegno P, Gramaglia C, Balbo PE, Cappellano G, Casella S, Chiocchetti A, Clivati E,Giordano M, Manfredi M, Patti G, Pinato DJ, Puricelli C, Raineri D, Rolla R, Sainaghi PP, Pirisi M; No-More COVID study group. Front Immunol. 2022 Dec 19;13:1038227. doi: 10.3389/fimmu.2022.1038227. eCollection 2022. PMID: 36601115. 17.Differential Expression of RAD51AP1 in Ovarian Cancer: Effects of siRNA In Vitro. Filipe A, Katopodis P, Chudasama D, Kerslake R, Jeyaneethi J, Anikin V, Silva E, Kyrou I, Randeva HS, Sisu C, Hall M, Karteris E. J Pers Med. 2022 Feb 1;12(2):201. doi: 10.3390/jpm12020201. PMID: 35207688; PMCID: PMC8876735. 18.Differential Expression of RSK4 Transcript Isoforms in Cancer and Its Clinical Relevance. Chen S, Seckl MJ, Lorentzen MPG, Pardo OE.Int J Mol Sci. 2022 Nov 23;23(23):14569. doi: 10.3390/ijms232314569.PMID: 36498899. 19.Differential prognostic effect of systemic inflammation in patients with non-small cell lung cancer treated with immunotherapy or chemotherapy: A post hoc analysis of the phase 3 OAK trial. Cortellini A, Ricciuti B, Borghaei H, Naqash AR, D'Alessio A, Fulgenzi CAM, Addeo A, Banna GL, Pinato DJ. Cancer. 2022 Aug 15;128(16):3067-3079. doi: 10.1002/cncr.34348. Epub 2022 Jun 21. PMID: 35727053 Clinical Trial. 20.Differential Regulation of Genes by the Glucogenic Hormone Asprosin in Ovarian Cancer. Kerslake, R.; Sisu, C.; Panfilov, S.; Hall, M.; Khan, N.; Jeyaneethi, J.; Randeva, H.; Kyrou, I.; Karteris, E. J. Clin. Med. 2022, 11, 42. https://doi.org/10.3390/jcm11195942. 21.Dissecting the clinicopathologic, genomic, and immunophenotypic correlates of KRASG12D-mutated non-smallcell lung cancer. Ricciuti B, Alessi JV, Elkrief A, Wang X, Cortellini A, Li YY, Vaz VR, Gupta H, Pecci F, Barrichello A, Lamberti G, Nguyen T, Lindsay J, Sharma B, Felt K, Rodig SJ, Nishino M, Sholl LM, Barbie DA,Negrao MV, Zhang J, Cherniack AD, Heymach JV, Meyerson M, Ambrogio C, Jänne PA, Arbour KC, Pinato DJ,Skoulidis F, Schoenfeld - AJ, Awad MM, Luo J. Ann Oncol. 2022 Oct;33(10):1029 1040. doi: 10.1016/j.annonc.2022.07.005. Epub 2022 Jul 22. PMID: 35872166. - 5 - DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 ## **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ 22.Dissecting the Tumor Microenvironment to Predict Immunotherapy Response in Hepatocellular Cancer. D'Alessio A, Pinato DJ. Gastroenterology. 2022 Dec;163(6):1712-1713. doi: 10.1053/j.gastro.2022.08.024. Epub 2022 Aug 11.PMID: 35964689. 23.Efficacy and safety of immune checkpoint inhibitor rechallenge in individuals with hepatocellular carcinoma. Scheiner B, Roessler D, Phen S, Lim M, Pomej K, Pressiani T, Cammarota A, Fründt TW, von Felden J, Schulze K, Himmelsbach V, Finkelmeier F, Deibel A, Siebenhüner AR, Shmanko K, Radu P, Schwacha-Eipper B, Ebert MP, Teufel A, Djanani A, Hucke F, Balcar L, Philipp AB, Hsiehchen D, Venerito M, Sinner F, Trauner M, D'Alessio A, Fulgenzi CAM, Pinato DJ, Peck-Radosavljevic M, Dufour JF, Weinmann A, Kremer AE, Singal AG, De Toni EN, Rimassa L, Pinter M. JHEP Rep. 2022 Oct 27;5(1):100620. doi: 10.1016/j.jhepr.2022.100620. PMID: 36578451. 24.Efficacy outcomes and prognostic factors from real-world patients with advanced non-small-cell lung cancer treated with first-line chemoimmunotherapy: The Spinnaker retrospective study. Banna GL, Cantale O, Muthuramalingam S, Cave J, Comins C, Cortellini A, Addeo A, Signori A, McKenzie H, Escriu C, Barone G, Chan S, Hicks A, Bainbridge H, Pinato DJ, Ottensmeier C, Gomes F. Int Immunopharmacol. 2022 Sep;110:108985. doi: 10.1016/j.intimp.2022.108985. Epub 2022 Jun 28. PMID: 35777264. 25.Elevated Circulating Lactate Levels and Widespread Expression of Its Cognate Receptor, Hydroxycarboxylic Acid Receptor 1 (HCAR1), in Ovarian Cancer. Kerslake R, Panfilov S, Mustafa N, Hall M, Kyrou I, Randeva HS, Karteris E, Godfrey R. J Clin Med. 2022 Dec 27;12(1):217. doi: 10.3390/jcm12010217.PMID: 36615018; PMCID: PMC9821497. 26.European consensus-based interdisciplinary guideline for melanoma. Part 1: Diagnostics: Update 2022. European Dermatology Forum (EDF), the European Association of Dermato-Oncology (EADO), and the European Organization for Research and Treatment of Cancer (EORTC). Garbe C, Amaral T, Peris K, Hauschild A, Arenberger P, Basset-Seguin N, Bastholt L, Bataille V, Del Marmol V, Dréno B, Fargnoli MC, Forsea AM, Grob JJ, Höller C, Kaufmann R, Kelleners-Smeets N, Lallas A, Lebbé C, Lytvynenko B, Malvehy J, Moreno-Ramirez D, Nathan P, Pellacani G, Saiag P, Stratigos AJ, Van Akkooi ACJ, Vieira R, Zalaudek I, Lorigan P. Eur J Cancer. 2022 Jul;170:236-255. 27.European consensus-based interdisciplinary guideline for melanoma. Part 2: Treatment - Update 2022. European Dermatology Forum (EDF), the European Association of Dermato-Oncology (EADO), and the European Organization for Research and Treatment of Cancer (EORTC).Garbe C, Amaral T, Peris K, Hauschild A, Arenberger P, Basset-Seguin N, Bastholt L, Bataille V, Del Marmol V, Dréno B, Fargnoli MC, Forsea AM, Grob JJ, Hoeller C, Kaufmann R, Kelleners-Smeets N, Lallas A, Lebbé C, Lytvynenko B, Malvehy J,Moreno-Ramirez D, Nathan P, Pellacani G, Saiag P, Stratigos AJ, Van Akkooi ACJ, Vieira R, Zalaudek I,Lorigan P. Eur J Cancer. 2022 Jul;170:256284. 28.Imaging Modality and Frequency in Surveillance of Stage I Seminoma Testicular Cancer: Results From a Randomized, Phase III, Noninferiority Trial (TRISST). Joffe JK, Cafferty FH, Murphy L, Rustin GJS, Sohaib SA, Gabe R, Stenning SP, James E, Noor D, Wade S, Schiavone F, Swift S, Dunwoodie E, Hall M, Sharma A, Braybrooke J, Shamash J, Logue J, Taylor HH, Hennig I, White J, Rudman S, Worlding J, Bloomfield D, Faust G, Glen H, Jones R, Seckl M, MacDonald G, Sreenivasan T, Kumar S, Protheroe A, Venkitaraman R, Mazhar D, Coyle V, Highley M, Geldart T, Laing R, Kaplan RS, Huddart RA; TRISST Trial Management Group and Investigators. J Clin Oncol. 2022 Aug 1;40(22):2468-2478. doi: 10.1200/JCO.21.01199. 29.Immune checkpoint inhibitor therapy and outcomes from SARS-CoV-2 infection in patients with cancer:a joint analysis of OnCovid and ESMO-CoCARE registries. Cortellini A, Dettorre GM, Dafni U, Aguilar-Company J, Castelo-Branco L, Lambertini M, Gennatas S, Angelis V, Sita-Lumsden A, Rogado J, Pedrazzoli P, Viñal D, Prat A, Rossi M, Berardi R, Alonso-Gordoa T, Grisanti S, Dimopoulou G, Queirolo P, Pradervand S, Bertuzzi A, Bower M, Arnold D, Salazar R, Tucci M, Harrington KJ, Mazzoni F, Mukherjee U, Tsourti Z, Michielin O, Pommeret F, Brunet J, Vincenzi B, Tonini G, Patriarca A, Biello F, Krengli M, Tabernero J, Pentheroudakis G, Gennari A, Peters S, Romano E, Pinato DJ. J Immunother Cancer. 2022 Nov;10(11):e005732. doi: 10.1136/jitc2022-005732. PMID: 36450384. - 6 - DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 ## **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ 30.Incidence and severity of immune-related hepatitis after dual checkpoint therapy is linked to younger age independent of herpes virus immunity. Zhang Z, Rafei-Shamsabadi D, Lehr S, Buettner N, Diehl R, Huzly D, Pinato DJ, Thimme R, Meiss F, Bengsch B. J Transl Med. 2022 Dec 12;20(1):582. doi:10.1186/s12967-022-03755-3. PMID: 36503532. 31.In Silico Study to Predict the Structural and Functional Consequences of SNPs on Biomarkers of Ovarian Cancer (OC) and BPA Exposure-Associated OC. Zahra, A.; Hall, M.; Chatterjee, J.; Sisu, C.; Karteris, E. Int. J. Mol. Sci. 2022, 23, 1725. https://doi.org/10.3390/ijms23031725. 32.Integrated use of PD-1 inhibition and transarterial chemoembolization for hepatocellular carcinoma: evaluation of safety and efficacy in a retrospective, propensity score-matched study. Marinelli B, Kim E, D'Alessio A, Cedillo M, Sinha I, Debnath N, Kudo M, Nishida N, Saeed A, Hildebrand H, Kaseb AO, Abugabal YI, Pillai A, Huang YH, Khan U, Muzaffar M, Naqash AR, Patel R, Fischman A, Bishay V, Bettinger D, Sung M, Ang C, Schwartz M, Pinato DJ, Marron T. J Immunother Cancer. 2022 Jun;10(6):e004205. doi: 10.1136/jitc-2021-004205.PMID: 35710293. 33.Ketogenic Diet as a Chemopreventative and Therapeutic Strategy for Colon Cancer. Pinato DJ. Gastroenterology. 2022 Sep;163(3):776-777. doi: 10.1053/j.gastro.2022.06.046. Epub 2022 Jun 18. PMID: 35728685. 34.Long-term effects of COVID-19 on cancer patients: the experience from Guy's Cancer Centre. Monroy-Iglesias MJ, Tremble K, Russell B, Moss C, Dolly S, Sita-Lumsden A, Cortellini A, Pinato DJ, Rigg A, Karagiannis SN, Van Hemelrijck M. Future Oncol. 2022 Oct;18(32):3585-3594. doi: 10.2217/fon-2022-0088.Epub 2022 Sep 29. PMID: 36172860. 35.Melanoma in pregnancy: Diagnosis and management in early-stage and advanced disease. Carter TJ,George C, Harwood C, Nathan P. Eur J Cancer. 2022 May;166:240-253. 36.Multiple Bayesian network meta-analyses to establish therapeutic algorithms for metastatic triple negative breast cancer. Schettini F, Venturini S, Giuliano M, Lambertini M, Pinato DJ, Onesti CE, De Placido P, Harbeck N, Lüftner D, Denys H, Van Dam P, Arpino G, Zaman K, Mustacchi G, Gligorov J, Awada A, Campone M, Wildiers H, Gennari A, Tjan-Heijnen V, Bartsch R, Cortes J, Paris I, Martín M, De Placido S, Del Mastro L, Jerusalem G, Curigliano G, Prat A, Generali D. Cancer Treat Rev. 2022 Dec;111:102468. doi: 10.1016/j.ctrv.2022.102468. Epub 2022 Sep 28. PMID: 36202026 Review. 37.Natural immunity to SARS-CoV-2 and breakthrough infections in vaccinated and unvaccinated patients with cancer. Cortellini A, Aguilar-Company J, Salazar R, Bower M, Sita-Lumsden A, Plaja A, Lee AJX, Bertuzzi A, Tondini C, Diamantis N, Martinez-Vila C, Prat A, Apthorp E, Gennari A, Pinato DJ. Br J Cancer. 2022 Nov;127(10):17871792. doi: 10.1038/s41416-022-01952-x. Epub 2022 Aug 22. PMID: 35995934. 38.Neutrophil-to-Lymphocyte and Platelet-to-Lymphocyte Ratios as Prognostic Biomarkers in Unresectable Hepatocellular Carcinoma Treated with Atezolizumab plus Bevacizumab. Wu YL, Fulgenzi CAM, D'Alessio A, Cheon J, Nishida N, Saeed A, Wietharn B, Cammarota A, Pressiani T, Personeni N, Pinter M, Scheiner B, Balcar L, Huang YH, Phen S, Naqash AR, Vivaldi C, Salani F, Masi G, Bettinger D, Vogel A, Schönlein M, von Felden J, Schulze K, Wege H, Galle PR, Kudo M, Rimassa L, Singal AG, Sharma R, Cortellini A, Gaillard VE, Chon HJ, Pinato DJ, Ang C. Cancers (Basel). 2022 Nov 26;14(23):5834. doi: 10.3390/cancers14235834. PMID: 36497316. 39.Novel immunotherapy combinations in clinical trials for hepatocellular carcinoma: will they shape the future treatment landscape? Fulgenzi CAM, D'Alessio A, Ogunbiyi O, Demirtas CO, Gennari A, Cortellini A,Sharma R, Pinato DJ. Expert Opin Investig Drugs. 2022 Jul;31(7):681-691. doi: .1080/13543784.2022.2072726. Epub 2022 May 6. PMID: 35507361 Review. 40.Outcome of liver cancer patients with SARS-CoV-2 infection: An International, Multicentre, Cohort Study. Muñoz-Martínez S, Sapena V, Forner A, Bruix J, Sanduzzi-Zamparelli M, Ríos J, Bouattour M, El-Kassas M, Leal CRG, Mocan T, Nault JC, Alves RCP, Reeves HL, da Fonseca L, García-Juárez I, Pinato DJ, Varela M, Alqahtani SA, Alvares-da-Silva MR, Bandi JC, Rimassa L, Lozano M, González Santiago JM, Tacke F, Sala M, Anders M, Lachenmayer A, Piñero F, França A, Guarino M, Elvevi A, Cabibbo G, Peck-Radosavljevic M, Rojas Á, Vergara M, Braconi C, Pascual S, Perelló C, Mello V, Rodríguez-Lope C, Acevedo J, Villani R, Hollande C, Vilgrain V, Tawheed A, Ferguson Theodoro C, Sparchez Z, Blaise L, Viera-Alves DE, Watson R,Carrilho FJ, Moctezuma-Velázquez C, D'Alessio A, Iavarone M, Reig M. Liver Int. 2022 Aug;42(8):1891-1901. doi: 10.1111/liv.15320. Epub 2022 Jun 23. PMID: 35608939. - 7 - DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 ## **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ 41.Outcomes of the SARS-CoV-2 omicron (B.1.1.529) variant outbreak among vaccinated and unvaccinated patients with cancer in Europe: results from the retrospective, multicentre, OnCovid registry study. Pinato DJ, Aguilar-Company J, Ferrante D, Hanbury G, Bower M, Salazar R, Mirallas O, Sureda A, Plaja A, Cucurull M, Mesia R, Townsend S, Jackson A, Dalla Pria A, Newsom-Davis T, Handford J, Sita-Lumsden A, Apthorp E, Vincenzi B, Bertuzzi A, Brunet J, Lambertini M, Maluquer C, Pedrazzoli P, Biello F, Sinclair A, Bawany S,Khalique S, Rossi S, Rogers L, Murphy C, Belessiotis K, Carmona-García MC, Sharkey R, García-Illescas D,Rizzo G, Perachino M, Saoudi-Gonzalez N, Doonga K, Fox L, Roldán E, Gaidano G, Ruiz-Camps I, Bruna R,Patriarca A, Martinez-Vila C, Cantini L, Zambelli A, Giusti R, Mazzoni F, Caliman E, Santoro A, Grosso F, Parisi A, Queirolo P, Aujayeb A, Rimassa L, Prat A, Tucci M, Libertini M, Grisanti S, Mukherjee U, Diamantis N,Fusco V, Generali D, Provenzano S, Gennari A, Tabernero J, Cortellini A; OnCovid study group. Lancet Oncol.2022 Jul;23(7):865-875. doi: 10.1016/S1470-2045(22)00273-X. Epub 2022 Jun 2. PMID: 35660139. 42.Persistence of long-term COVID-19 sequelae in patients with cancer: An analysis from the OnCovid registry. Cortellini A, Salazar R, Gennari A, Aguilar-Company J, Bower M, Bertuzzi A, Brunet J, Lambertini M, Maluquer C, Pedrazzoli P, Lee AJ, Carmona-García M, Newsom-Davis T, Van Hemelrijck M, Plaja A, Zambelli A, Tondini C, Generali D, Bertulli R, Diamantis N, Mukherjee U, Rizzo G, Yu T, Zoratto F, Bruna R, Sureda A, MartinezVila C, Cantini L, Mazzoni F, Grosso F, Parisi A, Saponara M, Prat A, Pinato DJ; On Covid study group. Eur J Cancer. 2022 Jul;170:10-16. doi: 10.1016/j.ejca.2022.03.019. Epub 2022 Apr 26. PMID:35576848. 43.Phase I Study of Safety, Tolerability, and Efficacy of Tebentafusp Using a Step-Up Dosing Regimen and Expansion in Patients With Metastatic Uveal Melanoma. Carvajal RD, Nathan P, Sacco JJ, Orloff M, Hernandez-Aya LF, Yang J, Luke JJ, Butler MO, Stanhope S, Collins L, McAlpine C, Holland C, Abdullah SE, Sato T J. Clin Oncol. 2022 Jun 10;40(17):1939-1948. 44.Randomized Phase III Trial Evaluating Spartalizumab Plus Dabrafenib and Trametinib for BRAF V600-Mutant Unresectable or Metastatic Melanoma. Dummer R, Long GV, Robert C, Tawbi HA, Flaherty KT, Ascierto PA, Nathan P, Rutkowski P, Leonov O, Dutriaux C, Mandalà M, Lorigan P, Ferrucci PF, Grob JJ, Meyer N, Gogas H, Stroyakovskiy D, Arance A, Brase JC, Green S, Haas T, Masood A, Gasal E, Ribas A, Schadendorf D. J Clin Oncol. 2022 May 1;40(13):1428-1438. 45.Real-world Treatment Sequencing and Survival in Previously Treated Advanced Renal Cell Carcinoma Patients Receiving Nivolumab Monotherapy: A UK Retrospective Cohort Study. Waddell, T., Fife, K., Griffiths, R. Sharma, A, Carroll, R. BMC Cancer 22, 617 (2022). 46.Reproducible safety and efficacy of atezolizumab plus bevacizumab for HCC in clinical practice: Results of the AB-real study. Fulgenzi CAM, Cheon J, D'Alessio A, Nishida N, Ang C, Marron TU, Wu L, Saeed A, Wietharn B, Cammarota A, Pressiani T, Personeni N, Pinter M, Scheiner B, Balcar L, Napolitano A, Huang YH, Phen S, Naqash AR, Vivaldi C, Salani F, Masi G, Bettinger D, Vogel A, Schönlein M, von Felden J, Schulze K, Wege H, Galle PR, Kudo M, Rimassa L, Singal AG, Sharma R, Cortellini A, Gaillard VE, Chon HJ, Pinato DJ. Eur J Cancer. 2022 Nov;175:204-213. doi: 10.1016/j.ejca.2022.08.024. Epub 2022 Sep 20. PMID: 36148739 47.Results of the Phase IIa RADICAL Trial of the FGFR Inhibitor AZD4547 in Endocrine Resistant Breast Cancer. Coombes RC, Badman PD, Lozano-Kuehne JP, Liu X, Macpherson IR, Zubairi I, Baird RD, Rosenfeld N, GarciaCorbacho J, Cresti N, Plummer R, Armstrong A, Allerton R, Landers D, Nicholas H, McLellan L, Lim A, Mouliere F, Pardo OE, Ferguson V, Seckl MJ. Nat Commun. 2022 Jun 10;13(1):3246. doi: 10.1038/s41467-022-30666-0.PMID: 35688802. 48.Sensitive Screening of Single Nucleotide Polymorphisms in Cell Free DNA for Diagnosis of Gestational Tumours. Maher GJ, Fisher RA, Kaur B, Aguiar X, Aravind P, Cedeno N, Clark J, Damon D, Ghorani E, Januszewski A, Kalofonou F, Murphy R, Roy R, Sarwar N, Openshaw MR, Seckl MJ.NPJ Genom Med. 2022 Apr 8;7(1):26. doi: 10.1038/s41525-022-00297-x.PMID: 35396509. 49.Spartalizumab or placebo in combination with dabrafenib and trametinib in patients with BRAF V600-mutant melanoma: exploratory biomarker analyses from a randomized phase 3 trial (COMBI-i). Tawbi HA, Robert C, Brase JC, Gusenleitner D, Gasal E, Garrett J, Savchenko A, Görgün G, Flaherty KT, Ribas A, Dummer R, Schadendorf D, Long GV, Nathan P, Ascierto PA. J Immunother Cancer. 2022 Jun;10(6). - 8 - DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 ## **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ 50.Vaccination against SARS-CoV-2 protects from morbidity, mortality and sequelae from COVID19 in patients with cancer. Pinato DJ, Ferrante D, Aguilar-Company J, Bower M, Salazar R, Mirallas O, Sureda A, Bertuzzi A, Brunet J, Lambertini M, Maluquer C, Pedrazzoli P, Biello F, Lee AJX, Sng CCT, Liñan R, Rossi S, Carmona-García MC, Sharkey R, Eremiev S, Rizzo G, Bain HD, Yu T, Cruz CA, Perachino M, Saoudi-Gonzalez N, Fort-Culillas R, Doonga K, Fox L, Roldán E, Zoratto F, Gaidano G, Ruiz-Camps I, Bruna R, Patriarca A, Shawe-Taylor M, Fusco V, Martinez-Vila C, Berardi R, Filetti M, Mazzoni F, Santoro A, Delfanti S, Parisi A, Queirolo P, Aujayeb A, Rimassa L, Prat A, Tabernero J, Gennari A, Cortellini A; OnCovid study group. Eur J Cancer. 2022 Aug;171:64-74. doi: 10.1016/j.ejca.2022.04.036. Epub 2022 May 23. PMID: 35704976. The Trustees are confident that CTRT will continue to fund work that will lead to improvements in the detection, monitoring and treatment of cancer and care for patients with cancer. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number CE025306 (England and Wales)** ## **Registered Charity number** 1194608 ## **Registered office** Upper East Research Office Mount Vernon Hospital Rickmansworth Road Northwood HA6 2RN - 9 - DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 ## **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ Trustee: R J Hallam Dr. P Nathan Dr A Sharma Dr A Polychronis Dr D J Pinato Professor M Hall Professor M J Seckl Professor G Rustin K K Grewal (appointed 10.10.2022) Dr E Ghorani (appointed 16.1.2023) ## **Statement of Trustees responsibilities** The trustees (who are also the directors of The Cancer Treatment And Research Trust CIO for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.In preparing those financial statements, the trustees are required to - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## In so far as the trustees are aware: - there is no relevant audit information of which the charitable company's auditors are unaware; and - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. ## Auditor The auditors, Millet Accountants Ltd , will be proposed for re-appointment at the forthcoming Annual General Meeting. Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by: 5/15/2024 .................. **Michael Seckl -Trustee** - 10 - DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 ## **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **INDEPENDENT AUDITOR'S REPORT** ## **TO THE OF THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **Opinion** We have audited the financial statements of The Cancer Treatment And Research Trust CIO (the 'charitable company') for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). ## In our opinion, the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 December 2022 and of its incoming resources and application of resources, including its income and expenditure, 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 Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Other matter** We draw to your attention that the comparative period financial statements were unaudited as the company was previously below the audit threshold. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the with respect to going concern are described in the relevant sections of this report. ## **Other information** The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. - 11 - DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 ## **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE OF THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **Matters on which we are required to report by exception** We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: - the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or - the charitable company has not kept adequate accounting records; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. ## **Responsibilities of Trustees** As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. ## **Auditor's responsibilities for the audit of the financial 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 misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. - Conclude on the appropriateness of the trustees use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. lf we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events, in a manner that achieves fair presentation. - Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the charity to express an opinion an the financial statements. We are responsible for the direction, supervision and performance of the charity audit. We remain solely responsible for our audit opinion. A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. - 12 - DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 # **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE OF THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **Use of our report** This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an 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. ## **Andrew Millet BA MBA FCA Senior Statutory Auditor** **For and on behalf of Millet Accountants Ltd, Statutory Auditors & Chartered Accoutants Beyond Aldgate Tower 2 Leman Street Aldgate E1 8FA** 6/18/2024 **Date** ......................... - 13 - DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 ## **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ |**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**
**Income and**
**endowments from:**
Donations and legacies
**2**
108,720
269,727
Other trading activities
-
-
Investments
**3**
3,393
-
Other income
**4**
-
-
**Total income**
112,113
269,727
**Expenditure on:**
Raising funds
**5**
4,214
-
Charitable activities
**6**
86,467
77,143
Other expenditure
**10**
34,683
-
Total expenditure
125,364
77,143
**Net income/(expenditure) and**
**movement in funds**
(13,251)
192,584|**(As restated and combined)**
**Total**
**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**2022**
**2021**
**2021**
**2021**
**£**
**£**
**£**
**£**
378,447
904
137,450
138,354
-
41,341
41,341
3,393
117
-
117
-
14,700
14,700
381,840
1,021
193,491
194,512
4,214
5,060
-
5,060
163,610
114,055
477
114,532
34,683
24,854
-
24,854
202,507
143,969
477
144,446
179,333
(142,948)
193,014
50,066|**(As restated and combined)**
**Total**
**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**2022**
**2021**
**2021**
**2021**
**£**
**£**
**£**
**£**
378,447
904
137,450
138,354
-
41,341
41,341
3,393
117
-
117
-
14,700
14,700
381,840
1,021
193,491
194,512
4,214
5,060
-
5,060
163,610
114,055
477
114,532
34,683
24,854
-
24,854
202,507
143,969
477
144,446
179,333
(142,948)
193,014
50,066| |---|---|---| |||194,512| |||5,060
114,532
24,854| |||144,446| |||50,066| - 14 - DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 ## **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **BALANCE SHEET** ## _**AS AT 31 DECEMBER 2022**_ |Unrestricted
Fund
**Notes**
£
**Fixed assets**
Tangible assets
**12**
906
Investments
**13**
6,469
7,375
**Current assets**
Debtors
**14**
32,864
Cash at bank and in hand
696,461
729,325
**Creditors: amounts falling due within**
**one year**
**15**
(22,853)
Net current assets
706,472
**Total assets less current liabilities**
713,847
**Creditors: amounts falling due after**
**more than one year**
Other creditors
(27,002)
**Net assets**
686,845
**The funds of the Charity**
Restricted income funds - general
Unrestricted funds - general|**(As restated and**
**combined)**
**2022**
**2021**
Restricted
Fund
Total funds
Total funds
£
**£**
**£**
906
1,177
6,469
6,469
7,375
7,646
32,864
29,331
541,930
1,238,391
1,036,125
541,930
1,271,255
1,065,456
(22,853)
(23,660)
541,930
1,248,402
1,041,796
541,930
1,255,777
1,041,796
(27,002)
541,930
1,228,775
1,049,442
541,995
349,411
686,780
700,031
1,228,775
1,049,442| |---|---| The notes on pages 17 to 23 form part of these financial statements. - 15 - DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 ## **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **BALANCE SHEET (CONTINUED)** ## _**AS AT 31 DECEMBER 2022**_ The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022. The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011. The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 5/15/2024 .............................. Michael Seckl - Trustee - 16 - DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 ## **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **1 Accounting policies** ## **1.1 Accounting convention** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. ## **Going concern:** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the continue to adopt the going concern basis of accounting in preparing the financial statements. The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern ## **1.2 Charitable funds** ## **1.3 Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Donations and legacies are provided to the Charity, in order that the Charity can fulfil its purpose. ## **1.4 Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **1.5 Investments** Fixed asset investments other than programme related investments, are included at market value at the balance sheet date, Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end. ## **1.6 Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and equipment 25% on reducing balance Computer equipment 33% on reducing balance - 17 - DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 ## **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **1 Accounting policies** **(Continued)** ## **1.7 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. The charity opted to adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. ## **1.8 Financial instruments** The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## **1.9 Taxation** The charity is exempt from corporation tax on its charitable activities. ## **1.10 Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. - 18 - DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 ## **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **1 Accounting policies** ## **(Continued)** ## **1.11 Pension costs and other post-retirement benefits** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **1.12 Consolidation policy** On the 1 January 2022 the Charity took over the assets, liabilities and activities of a charitable trust named The Cancer Treatment and Research Trust (charity number 292909). In accordance with the Charity SORP the trustees have accounted for the transaction as a merger. Given that the merger occurred at the very beginning of the financial year, being 1 January 2023, and The Cancer Treatment and Research Trust (charity number 292909) ceased to operate on that date all of the assets , liabilities and activity in 2023 related to the Charity; and all the assets, liabilities and activity in 2022 related to The Cancer Treatment and Research Trust (charity number 292909). ## **2 Income from donations and legacies** |Donations
Gift aid
Other income
**3**
**Income from investments**
Dividends
Deposit account interest
**4**
**Other income**
Other income|**2022**
**£**
334,133
3,888
40,426
378,447
**2022**
**£**
217
3,176
3,393
**2022**
**£**
-|**2021**
**£**
138,354
-
-| |---|---|---| |||138,354| |||**2021**
**£**
108
9| |||117| |||**2021**
**£**
14,700| - 19 - DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 ## **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ |**5**
**Expenditure on raising funds**
**Fundraising and publicity**
Seeking donations, grants and legacies
**6**
**Expenditure on charitable activities**
Research salaries
Research expenses and lab fees
Grants to Institutions
Conference and Meeting
**Share of support and governance costs (see note 7)**
Support
**7**
**Support costs allocated to activities**
Other resources expended
Management
Finance
Governance Cost|**2022**
**£**
4,214
**2022**
**£**
70,237
73,619
4,715
15,039
163,610
34,683
34,683
**2022**
**£**
21,392
1,039
12,252
34,683|**2021**
**£**
5,060| |---|---|---| |||**2021**
**£**| |||59,266
49,931
5,000
335| |||114,532| |||8,397| |||8,397| |||**2021**
**£**
328
782
7,287| |||8,397| ## **8 TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2022. ## **Trustees' expenses** During the year £2,246 of expenses were paid to Dr Nathan and £3,861 was paid to Professor Seckl relating to conference expenses. - 20 - DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 ## **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **8 TRUSTEES' REMUNERATION AND BENEFITS** ## **(Continued)** ## **9 Employees** |**Employment costs**
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Secreterial/Administration:
There were no employees whose annual remuneration was more than £60,000.|**2022**
**£**
14,248
275
170
14,693
**2022**
1|**2021**
**£**
14,000
-
214| |---|---|---| |||14,214| |||**2021**
1| ## **10 Other Expenditure** |Subscriptions
Travel and Subsistence
Wages
Staff recruitment
Pensions
Insurance
Staff Training
Telephone
Postage and stationery
Advertising
Computer expenses
Plant and machinery
Computer equipment
Sundries
Bank charges
Accountancy and legal fees|**2022**
**£**
2,690
134
14,248
275
170
284
52
65
300
2,199
564
85
326
-
1,039
12,252
34,683|**2021**
**£**
1,191
-
14,000
-
214
47
-
34
423
38
240
389
-
209
782
7,287| |---|---|---| |||24,854| The audit fee for 2022 was £2900+vat (2021:£nil). - 21 - DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 ## **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **11 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. ## **12 Tangible fixed assets** |**Plant and**
**equipment**
**Computers**
**£**
**£**
**Cost**
At 1 January 2022
199
978
Additions
139
-
At 31 December 2022
338
978
**Depreciation and impairment**
Depreciation charged in the year
85
326
At 31 December 2022
85
326
**Carrying amount**
At 31 December 2022
254
652
At 31 December 2021
199
978|**Total**
**£**
1,177
139| |---|---| ||1,316| ||411| ||411| ||906| ||1,177| ## **13 Fixed asset investments** |**Cost or valuation**
At 1 January 2022 & 31 December 2022
**Carrying amount**
At 31 December 2022
At 31 December 2021
**14**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Prepayments and accrued income
Accruals|**Listed**
**investments**
**£**
6,469
6,469
6,469
**2022**
**2021**
**£**
**£**
29,792
13,420
3,072
14,978
933
32,864
29,331|**Listed**
**investments**
**£**
6,469
6,469
6,469
**2022**
**2021**
**£**
**£**
29,792
13,420
3,072
14,978
933
32,864
29,331| |---|---|---| |||6,469| |||6,469| |||**2021**
**£**
13,420
14,978
933| |||29,331| - 22 - DocuSign Envelope ID: A05679E9-8328-4A25-96A8-6FFF2A5D48F0 ## **THE CANCER TREATMENT AND RESEARCH TRUST CIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **15 Creditors: amounts falling due within one year** |**Creditors: amounts falling due within one year**||| |---|---|---| |Social security and other taxes
Accruals and deferred income
Accrued expenses
Other creditors|**2022**
**£**
317
4,500
18,036
-
22,853|**2021**
**£**
277
-
-
23,383| |||23,660| ## **16 Retirement benefit schemes** The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund. ## **17 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. |**At**
Unrestricted Funds
Restricted funds
**Previous year:**
**At**
Unrestricted Funds
Restricted funds|**1 January**
**2022**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2022**
**£**
**£**
**£**
**£**
700,031
112,113
(125,364)
686,780
349,411
269,727
(77,143)
541,995
1,049,442
381,840
202,507
1,228,775
**1 January**
**2021**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2021**
**£**
**£**
**£**
**£**
842,979
1,021
(143,969)
700,031
156,397
193,491
(477)
349,411
999,376
194,512
144,446
1,049,442|**1 January**
**2022**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2022**
**£**
**£**
**£**
**£**
700,031
112,113
(125,364)
686,780
349,411
269,727
(77,143)
541,995
1,049,442
381,840
202,507
1,228,775
**1 January**
**2021**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2021**
**£**
**£**
**£**
**£**
842,979
1,021
(143,969)
700,031
156,397
193,491
(477)
349,411
999,376
194,512
144,446
1,049,442| |---|---|---| |||1,049,442| ## **18 Related party transactions** There were no related party transactions for the year ended 31 December 2022 or for 31 December 2021. - 23 -