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LUNG CANCER RESEARCH
(CHARITY COMMISSION NO. 1101823)
ACCOUNTS
310ECEM8ER 2023

LUNG CANCER RESEARCH
(CHARITY COMMISSION NO. 1101823)
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
CONTENTS
PAGE
Trustees, Report
Accountants, Report
Balance Sheet
statement of Financial Activities
Notes lo the Accounts
10

LUNG CANCER RESEARCH
(CHARITY COMMISSION NO. 1101823)
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
R¢gi$tsrod Charity Numb¢r
1101823
Prlnclpal Addrèss
rjo Kreston Re8ves LLP, 168 Shorediich High Street, 2nd Floor,
London. E1 6RA
Governlng Do¢umont
Setdement Deed dated 20th January 2(JM
How Constituted
As a trust
Objects of the Charity
The assets are held on trust to fund dinical laboratory and
ephlemiological research into the causes, prevention and treatment
of Lung Cancer.
In setting our objectives and planning our activities the Trustees
have given careful consideration to the Charity Commission's
general guidance on wbli¢ benefit.
Accountants
Kr8slon Réeves LLP
2n¢J FI￿r. 168 Shoredilth High Street
London
E1 6RA
Bank•r8
HSBC Bank Pl¢
12 Hampstead Huh Street
Hampstgad
London
NW3 1PY
Tru8t••8
Robin Ellison
Ajastair Meeks
Trusts• Sel•ctlon
Apw'ntmenl by 8XlSting truslg9S
MISSION STATEMENT
Introdu¢tlon
Lung Cancer Research was established as a rogislered charity in 2004 lo support tha resaarch in th8 field
of lung cancer.
Lung cancer is p(K>rfy supported by the mainstream cancer charili8s. pardy b8¢ause il is Soon as a self-
inflicted disease in many cases.
There are three Iruslees of the charity.
Professor Robin Ellison
Mr Alastsir Meeks
Professor Michael Seckl
Ms Nicci Wyborn
Professor Ellison and Mastsir Meeks a￿ experienced trust lawyers. Professor Seckl is 8 wodd-leading
researcher in the field of lung cancer. Ms Wybom is a lung cary￿r survivor.

LUNG CANCER RESEARCH
(CHARITY COMMISSION NO. 1101823)
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
Purpo$•
The intention of the charity is lo support ￿SearCh in the f*ld of lung Cancer which is now showing signs of
signrficanl clinical advances. One of the original purposes. lo raise funds lo support clas5 action liligalion
the proceeds of which were to be used for the purposes of research (following similar experience in the
United States) has now been suspended after changes in English law and practice.
History
The charity bonefits from legacies, arKI al present Ihe Wicy is not lo raise funds direct from the public.
In March 2021. a grant application from Professor Seckl was apwoved by the trustees (after external peer
review) for research targeting the activity of the kinase RSK4 and its downstream mediators as novel
thera￿u￿.¢ str81egies for lung cancer. The research required the recruitment ol one tx)st4o¢toral research
associate for four years and one PhD sludenl for three and a half years. A grant of £430.000, lo be paid
over 4 years, was awarded. A one year in advance payTnent was made in August 2021 for £107,500 and
Ihis has been shown in the accounts accordin91y.
The Lung Cancer Research Charity ILCRC) has been supporting hyo proiecls one lead by Dr Olivier Pardo
Dr Pardo's work follows on from the discovery Ihat a molecule in lung cancer cells called RSK4 la kinas81
is a critical mediator of resistance lo existing treatments as well as enabling cancer ce115 to spread lo other
parts of the body a Process called meiastasis. In this prior work published in a leading scientrfic journal
called Sci Translational Medicine in 2021, Dr Pardo's t8am werè able to show that RSK4 could b8 inhibited
both 9enelically and by drugs lo reverse ￿$•$18n¢e lo existing treatments and p￿vent melaslasis. As we
now move lo establish a trial le51ing our RSK4 targeting drugs it remains important that we understand
more about the biology of RSK and how it might become resistant to our dnJg treatments. Therefore, in
work supported by the LCRC, his team have investigated the molecular mKhanisms through which RSK4
Is Involved in promoting lung cancer progression and focused on Iwo separate pathways that were
identified as altered by this kinase.. glucose metabolism and DNA damage response.
For glucose metabolism. his team fovnd that inhibilion of RSK4 to restncl lung cancer viability Iriggored a
metabolic rescue response, where cells increased their usage of glucose though glycolysis coupled lo the
Tri Caboxylic Acid ITCAI cycle. This enabled the cancer cells lo try and survive the loss of RSK4 and
involved a pseudo-hypoxi¢ response that promole(J the expression of metabolic enzymes driving the
increased use of gluc05e. Our preliminary experiments 5ugge51 Ihal inhibiting thi5 mel8iK)lic adaptation
together with RSK4 would be synergistic and lead to more efficienl killing ol lung cancer cells.
For DNA damage response, Dr Pardo's leam were able to show Ihat RSK4 inhibilion is accompanied by
DNA damage and this may be triggered by the interaction of RSK4 with an enzyme involved in nucleotide
synthesis, CAD. Conversely. his team demonslraled Ihal DNA damage trigge￿d an upregulalion of RSK4
expression, demonstrating that this kinase is part of a prTrsurvival response that enables the cell lo
survive the stress of chemotherapeutic drug trealmenl. We are now testing how combining RSK4 with
CAD inhibition. or inhibitson of DNA repair 8nzym8s. may ￿ synergistic in our survival assays.
Hence, our work so far has identified Th)vel Iherapeulic combinations thal are currenlly being validated and
if positive will r6suIt in further improvements for lung cancer paI￿nt outcomes in th6 clinic.

LUNG CANCER RESEARCH
(CHARITY COMMISSION NO. 1101823)
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
Dr Ghorani's tearn have been using the LCRC furKls to support sample o￿lection within the NatH)nal
Institute of Health Research REFINE-Lung sludy. This trial is testing whether we can safely reduce the
frequency of giving the eXt￿mElY expensive immunotherapy agent ￿mbr￿I2￿mab for lung cancer
patients. If positive, the trial will save the NHS up lo a billion pounds per year. However. the NIHR does
not cover sample collection and research based on these samples. The LCRC funding is fortunately
enabling us to collect blood samples so that we can learn within the trial how to better select patients for
immLJnothèrapy treatments which only help about 25% of the lung cancer patients who receivè it although
all individua15 will start this therapy. The LCRC is pawng for UK hospital siles to take blood5, record clinical
information and send blood samples and tissues to our centre at Imperial College. The funds also support
Ihe processing and banking of these samples. We have been focused on sample collection and slorage,
but have also been running pilot flow ffjometry experimenls lo develop a novel PCk1 receptor occupancy
assay that we intend lo run on banked Samples now th81 we 8re approaching the interim 8n8lysis of this
large national lung cancer trial. We will also be njnning more immune fluorvscence on the tissue blocks
and continue to work with digital pathology collaborators on developing a novel biomarker approach. The
rgSLJlts of this work should improvè patiènt strabfication to the most appropriate therapies, reduce patient
toxicity, improve p81ienl qv81ity of lile and help $8V8 the NHS ts.me and money.

LUNG CANCER RESEARCH
(CHARITY COMMISSION NO. 1101823)
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
Tho Tru$t¢¢s
Professor Ellison
Robin Ellison is a practising solicitor and academic. He specialises in the development of pensions and
related financial services producls for insurers and other providers. and in European and international
pensions, ￿nsionS trust88 law and p8nsions in matrimonial matters. He acts lor a ntlmber of forèign
governTnents and government agen￿9$.
He is a founder of several Companies. inclu¢Jing Pondra￿n Professional Infomiats"on, publisher ol
Perspective, the electronic regulatory and legal publisher to the pensions industry. and ol the London &
Colonial insurance group, and is tnjstee of several pension fvnds, lincluding those of Cambridge Colleges
and Public Service Pension Fund) both as independent tnjstee and as chaimian. He also practices as a
commerci81 mediator, and was Chairman of amongst others the Really Useful Theatres and the Carillion
pension schemes, and gave evidence lo the Work aryj Pensions Select Committee following the collapse
of Carillion.
He was a founder of the Association of Pens￿nS Lawyers. b&ing awarded its Wallace Prize in 1995 and in
1997 hg was elected the firsl solicilor Honorary Fellow of Pensions Management Institute. He was
awarded the Industry Achievement award by Portfolio Inslitulional in 2013 and was European Pensions
Personality of the year in 2017.
H8 IS the author of numerous books on pensions includir¥J a four volume I(¥)￿1?3f Pensions Law and
Practice. (Sweet & Maxwelll, the PgnsKJn Truslegs H8nd￿￿k17th ed, 2013, Thorogoodl and is editor of
Ptsnsions Bènefits Law Reports. His book. Pension Fund Investment Law. was publishwj by Bloomsbury
Professional in 2008, and he Covaulhored Pensions and Divor￿ ILime Legall published in 2010. His rnore
recent books, Pensions for you and your business, (Crimson) and Halsbury's Laws Volume 80.. Pensions
(Butterworthsl were published in 2013, and his study of wulation Red Tape.. managing excess in law.
regulation and the courts was published by Cambridge University Press in 2018. He wrote a rTK)nlhly
column on pensions law for Pensions Workl for forty yea￿.
He Is a Visiting Professor in Pensions Law and Economics 81 Cass Business School, City. University of
London, and an oc¢asion81 broadcasler on radio and televisic￿ on p￿S1onS matters. He is a former
Chairman of the Pensions and Lifetime Savings Association Ifomierfy the Nalional Association of Pension
Funds) and has particular experience in chaimianship, trusleeship. corporate govemance, relationships
with regul810ry bodies, the law of pensions, insurance arKI financial services, and negotiation and dispute
resolution.
Alastair Meeks
Alastair Meeks is a retired sdicitor. Until May 2020 he was a parlner in Pinsent Masons and praclised
pensions law.
He was chair of the Association of Pension Lavryers from 2(K17 10 2009 and is a Fellow of the Pensions
Managgment Institute.
He acted in relation to many landmark pension cases, induding the ITN case and BESTruslees v Stuart,
bolh of which explored the interaction beiween explanatory literature and trust documentalion. He acted
for the tnjstees of Anglo Unrted Pension S¢heme and the DexK)n Stheme, and in the process helped
prompt the estsblishment of the DWP'S Financi¥l Assistance Scheme.
He is the author of Tolleys Pensions Cases, the definitive work on Ihe subject and currenuy edits the
pensions cases section of Tolley's Pensions Law.
He is now taking up a role as a professh)nal Irustee with Zedra as from October 2023.

LUNG CANCER RESEARCH
(CHARITY COMMISSION NO. 1101823)
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
Professor Sèckl
Michael Sèckl, MD, PhD, FM￿SU trained medicinè arKI scienc£ at University Coll￿8 London (Unitèd
Kingdom) obtaining a Bsc in immunol(KJy in 1983 and his MBBS in 1986. He did his general professional
and specialist medical oncology training on the London circuit, and became a fellow of the Royal College
of Physicians. He obtained his PhD in b1(￿heMistry in 1995 from ihe London Research Instilute (now
known as the CRICKYUniversity College London and was that year appointed as a senior
lecturerlhonorary consultant in medical oncology at Charing Cross Hospitsl in Lonth)n, now part of Imperial
College London.
He then established his own research groups wofkir4J on cell signalling in luThJ cAn￿r and Irophoblastic
cancers supported by grants from Cancer Research UK, the Medical Research Council, Wellcome Trust,
Wellbeing, industry, and others. He was promoted lo reader in 2002 and professor of molecular oncology
in 2004, when he also took on the directorship of the Charing Cross Gestational Trophoblaslic Disease
Centr8 and the supraregional Tumour Markef Assay Service.
Professor Se¢kl also leads the IM￿n81 College Experimentsl C8n¢er Medicine Cant￿. the Impeftal
Cancer Trials unil, runs the London Lung Cancer Mliance and has nJn multiple Phase 1.111 trials. He is on
the editorial board of several joumals and chairslsits on several grants committees. He is the immediate
pasl-presidenl of the Royal Society ol Medicine Oncol(¥Jy seclion and European Or9anisalion lor the
Treatment of Trophoblaslic Disease. He was also p8s1 p￿S1{jen1 and is the Current treasurer of the
International Society for the Study ol Trophoblastic Disease and h￿dS an honorary professorship wrth the
Pgking Union Medical College in China.
He also established and now c¢>leads Ihe gynaecological cancer domain wilhin the Europoan Rare Adult
Cancer Network IEURACANI. Educationally. hè was dirèctor ol poslgradu81e studiès for thè Dèpartment
of Surgery and Cancer with overall resFM)nsibility for 200 MSclMRes and 4(K) Pho studenis be￿een 2012.
2022.
Wllhln hls own research group. he and his team have received numerous nalional and inlemalional
awards and in the past S years have raised over £18M of grant income. He has published over 280 peer
reviewed manuscripts many appearing in leading scientsfic and medical joumals such as Lancet. Lancet
Oncology, New England J of Medicine. Nature communications, Saence Translats'onal Medicine and J
Clinic81 On¢ol(vJy. In ￿CognItion lor his Conlribulions lo medical science and his inlemalional leadership he
was made a Fellow of the Academy of Medical Seiences in 2017. He remains committed lo leaching,
research, and his patients.
Nlccl Wyborn
Nicci is a Senior Pensions Consultant in the Pinsent Masons Pensions Solulions business at Pinsent
Masons. In her current role she specialises in risk, governance and project management services for
cliènts with both dèfinèd b8n81it IDBI and dèfinèd contribution (DCI pension schèmes, working closèly with
trustee boards, Pensions M8n8gers and HR Directors. Clien15 indude a £5.5 billion pension scheme
IDBIDCI, a £1 billion pension scheme IDBlwith AVCs}. a £700 million pension scheme lopen DBI and
£300 million pension scheme IDBIDCI. Nicci had been at Pinsenl Masons for nearty 23 years starting her
¢arogr as a PA in the pensions group, before moving to Pinsent Masons Pensions Solutions in 2017. Nicci
had lung surgery in 2018 for a carcinoid lung lumour so the work fundeil by the charity is extremely
important lo her.

LUNG CANCER RESEARCH
(CHARITY COMMISSION NO. 1101823)
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
I declare that in my capaaty of chariiy trustee. that..
- the Trustees have approved the report al￿., 8rwJ
hava authorisgd me to sign it on thgir beham.
OottuSion•d by..
tsIK dL4St
Ro
In
Trustee
Ison

LUNG CANCER RESEARCH
(CHARITY COMMISSION NO. 1101823)
ACCOUNTANTS. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
In accordance with the engagement letter of 3 September 2013 we have prepared the accounts, set out on
pages 8 10 10. from the accounting records of the Trustees and infom)alion and explanations given lo us.
These accounts have been compiled in accordance with the accounting policie5 set out in Note 1 to these
accounts. These accounts are not intended to comply fully with the provisions of'UK Generally Accepted
Accounting Principles,.
This report is made to the Trustees of Lung Cancer Research Trust. in accordan￿ with the terms of our
engagement. Our wort has been undettsken so Ihal we might prepare the accounts, report that we have done
so and slate those matters which we feel should be drawn to the Trustees, attention and for no other purpose.
To the fullest exlenl permilled by law, we do not accept or assume responsibilily lo anyone, other than the
Trustees, for our work or for this report.
We have carried out this engagement in accordance with technical guidelines issued by the Institute of
Chartered Accounlanls in England & Wales and by the Society of Trust and Estate Practitioners. We have
compiled this report with ethical guidance laid down by those bodies.
We have not been instructed to carry out an audit of these accounts. For this reason, we have not verified the
accuracy or completeness of the accounting records or information and explanations given lo us and we do not,
therefore, express any opinion on these accounts.
Il,,k eeLugs LL
Krèston Ra•v•s LLP
Chartered Accountants
2nd Floor
168 Shoredilch High Street
London
E16RA
ACCOUNTS APPROVAL CERTIFICATE
We approve these accounts and conffimi that we have made available all relevant records and
information for their preparation.
Do¢u8*dby'.
Ison
A￿Ll$

LUNG CANCER RESEARCH
(CHARITY COMMISSION NO. 1101823)
BALANCE SHEET AS AT 31 DECEMBER 2023
UNRESTRICTED
FUNDS
UNRESTRICTED
FUNDS
31 December 2023
31 December 2022
Note
Current assets
HSBC Bank PIC
370,100
473,636
Total cash fvnds
Creditors within one year
Accountancy and Independent Examination charges
4,080
1,980
Net assets
Funds ofthe Charlty
Cash funds brought forward, 310ecember 2022
Nel rec8lPtsllpaymenls) during the year
471,656
(105,6361
466,357
5,299
Total funds
IINSERT DATEI
Signed by the Trustees on.......
A￿Ll5

LUNG CANCER RESEARCH
(CHARITY COMMISSION NO. 1101823)
STATEMENT OF FINANCIAL ACTIVITIES (SOFA) FOR THE YEAR ENDED 31 DECEMBER 2023
UNRESTRICTED
FUNDS
UNRESTRICTED
FUNDS
31 December 2023
31 December 2022
Note
Incomlng resources
Bank Charges refund
Donations received
9,071
11,960
Total incoming resources
Resources expended
Accountancy and Independent Examination charges
Solicitors Charges
Bank charges
Imperial College for funding for lung cancer research
Administration Expenses
Registration with the Fundraising Regulator
2.100
1,980
4,560
121
133
111.507
917
50
Total rosources expended
Net movement In funds
1105.636)
5,299
Total fund8 brought forward, 31 Decembèr 2022
471.656
466,357
Total funds as at 31 December2023

LUNG CANCER RESEARCH
(CHARITY COMMISSION NO. 1101823)
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
Provision is included for all known current liabilities. Contingent and future liabilities are not included.
except where menlioned below by narrative nole.
Assets are shown at their value al the balance sheet date.
Income Tax {ITI. Capltal Galns Tax ICGT) and Inherltance Tax IIHTI
The trust, as a charity. is exempt from IT and CGT on its investment income and capital gains. None of
the reslricts'ons on this relief. imposed by tax legislation. apply for this year.
The trust is also exempl from IHT while its fvnds continue to be held or applied for charitable purposes.
3 DonatSons
The Trustees received the following donations during this year'.-
2023
2022
Multiple payments
Charities Trust
Charitable Giving
Charities Aid Foundation
Paypal Giving Fund
Other
603
120
110
4,216
4,022
240
119
413
Single payments
Charities Aid Foundation
Donatis
122
Legacies from eslales
Mabel Foster
Patricia Regrulo
Cyril Knight
8,230
2,677
159
10