SPENCER DAYMAN MENINGITIS RESEARCH TRUSTEES ANNUAL REPORT AND RNAf+iaAL STATEMENTS FOR THE PERIOD ENDING 31 MARCH 202S Charity Numbers 1202202 England and Wales SC052732 Scotland SPENCER DAYMAN MENINGtris RESEARCH INDEX Page General Informatlon Trustees Report Trustees Ae5ponslbllltles li Independent Examlners Report 12 Statement of Flnanclal Actlvltles 13 Balance Sheet 14 Statement of Cash Flows 15 Note5 to the Accounts 16 SPENCER DAYMAN MENINGITIS RESEARCH GENERAL INFORMATION Charity Number: 1202202 and SCO52732 Type of Charity. Charitable Incorporated Organlsation Prlnclpal & Reglstered offlce address Homeside Old Gloucester Road Alveston Brlstol BS35 3LQ Trustees Loulse Graham- Chalr Stephen Gazard Stephen S Dayman Jnr Quentin Stolt David Booker Principal Officer Dr Steve Dayman MBE (Founder) ientific Medical Advisory Panel Professor Paul Langford B5c PhD C￿101 FRSB Professor Ray Borrow PhD MRCPath Dr Carollne Vlpond Professor Saul Faust FRCPCH PhD OBE Professgr lan Fevers 85c, PhD AppDinted October 2024 Independent Examlner Mathew Dobbins FCA Dunkle￿5 Chartered Accotsntants Woodlands Grange Woodlands Lane Bradley Stoke Brlstol B532 4JY Bank Lloyds Bank PO Box 1000 Andover BXI IL SPENCER DAYMAN MENINGITIS RESEARCH Trustees, annual report for the perlod endlng 31 March 2025 The Trustees present their report tOEether wlth the Ilnanclal statements forthe perlod ending 31 March 2025. Introduction from the Chair We are deli8hted to present to you the 2025 Report and Accounts for Spencer Oayman Meningitis Research, which showcase5 our charity's progress and 3chievement5 In our 2nd financial year 2024- 2025. The continued dedication of our supporters, volunteers and trustees resulted In ex￿edIng our financial targets again and we are proud to share thls achievement wtth them, so many of whom are famllles who h3ve been affected by menlngitis and other associated dlseases. The financial support of grant giving Trusts and Foundations, community organisations. companles and indlviduals was twly appreciated. We also extend our gratitude to our Scientific Medical Advisory Panel for thelr general advio and guidance. giving thelr time to monltor our flrst preventatlve vaccine development research projeci entltled- Group A Strep Avlator Study which commenced in October 2023. In addition, they evaluated and approved our 2 preventative research study entitled: Gold blonanoconlugate5 for the ropid detection of barteria causlng sepsls and menlng5tls. This is a 12-month study to provide evidence to develop a diagnostic klt to detÈtt sepsls, meningitls and other associated diseases in five minutes. Thi5 Study commenced In November 2024. Thelr Invaluable support ensures thls charity funds relevant, meanin8fv1 preventadve research of the hlghest quality. Despite oursuccessful year, the heart-breaking reality remain5 that there are Still many infection5 that cause meningitis and other a55ociated diseases that are not vacclne preventable. Since the end of the Covid pandemic, we have seen a rise in the number of infectious disease5 Includlng meningitis and other associated infections. Thi5 confirms the continuin8 importance of OUT Vital worl to fund preventative research, improve diagnosis into meningit15, sepsis and other a550ciated diseases, support families affected and ralse awareness regardlng the sign5 and symptoms. Louise Graham SPENCER DAYMAN MENINGtrs RESEARCH Trustees, annual report for period endi￿ 31° March 2025 Objects Spencer Dayman Meningitis Research wa5 re8lStered with the Charity Commlsslon for Ett8land and Wales on 6 March 2023, and with the offi￿ of the Scottish Charity Regulator on 7 August 2023. The objects of the charity are.. l. To advancè the educatlon of the publlc In general land partieularty amon8st scientists) in the preventlon and treatment of menlngitis and other associated diseases by promoting and fvndin8 research for the publlc beneflt in all aspects of that subject and to publlsh the useful results. 2. For the publlc benefft. to relieve the needs of those affected by meningitis and other assodated disease5, and thelr famllles by means ofr. . the provi51on of peer-trtrpeer support and practlcal advlce: b. ralslng publlc awareness. The Trustees conflm that they have had regard to publlc benefft guldance pub115hed by the Charity Commlsslon In determSnlnB the artfvitle5 undertaken by the charity. The charlty does not employ any rtaff and relles entlrely on volunteers. Includln8 our Prfnclpal Offlcer. Dr Steve Dayman MBE who also provides the offi￿, rates, heat and light at no charge to the charttv. Achlevements and Performance The charlty was re8lstered on 6th Marth 2023 to support preventatfve sdentiflc research into menlnBIt15 and other a5SOCiated diseases, provlde peer support to famllles affected by these dlseases and ralse awareness regarding the Importance of wognlslng the slgn$ and symptoms of menlngltls and other assoclated diseases. The charity's website IwwH.spencerdaymanmenln8ltlsresearth.orgl hlghllghts our Important work Includlng provldlng dlseases facts. We are grateful for the support of the Srarfish Trusr who contlnue to S[￿)n$01 the Maintenan￿ of the web51te. We are also artfve on 50cial media platforms Including FacebooK Instagram and Ltnkedln. Supportlng prewntative research at the SpeDcer Dayman Men1￿1t1$ L4boratorles, Brlstol Vaccine Centre, Unh￿ISItyaI Brlrtol. Progress ¢ontlnues regarding the development of safe and effective vaccines which Spencer Dayman Menlnglt15 Research wholeheartedly Supports. We take great pride in ensuring that the PTeventative research we fund is of the highest quality. To achleve this, we rely on the expert15e of our eminent ScientTfic Medical Advisory Panel, ￿nowned for their knowledge arHI experlence In infeCt￿U5 diseases. Their vast understanding in thelr respectrve field5 15 invaluable to us and we are 8rateful to them for 8ivin8 their time to support our work. SPENCER DAYMAN MENINGMS RESEARCH Trustee< annual report for perfod ending 31° March 2025 Research Project: Aviator Group A5trep Vactine Study: October 2024-(kn**er 2027 Our flrst research proleffj Avlator Group A Study. commenced on 1st Qktober 2023. Group A Streptococcus IGAS) or"Strep A" 15 a bacterium which can cause a range of diseases from mild infections affecting the throat and skln to severe infertions including meningitis, pneumonia, rheumatic fever and sepsis. It is estimated that GAS causes over half a million deaths each year worldwde, many of whom a￿ children. The diseases caused by GAS have been in(Teasin8 in recent year5. despTte the availablllty of antibiotics to treat these infertion5. GAS bacteria are u5u3Ity transmitted through thè throat, mouth and nose. A vaccine which could prevent GAS from Infecting the throat, mouth and n05e would greatly reduce the impact of GAS diseases. There is no vaccine available for GAS and it is unclear whlch parts of the bacteria Icalled antigens) to indude in a vaccine. Lead scientists for this researth project are: Dr Anu Goenka- ainlcal Lerturer & HOr￿rary Consultant in Paediatri¢ Immunology & Infectious diseases Dr Ajice Halliday- Lecturer in Infecttous Diseases Prof Darryl Hill- Professor in Infertious Diseases The team have developed an innovative approach that uses a new technique called tonsll organold model. Tonsils are part of the immune system which help us ffight infection. The research involves growin8 cells from tonsils of patients which WE￿ removed during routlne surgery. To do this the team will separate out the ce115 and then grow the celb in the laboratory alongside different parts of the GAS bacterla. They wlll then measure the Immune response of the tonsil cells from dtfferent donors to help them make decisions on which parts of the GAS ba¢teria could be included in a successful vaccine. Due to new findings arhd after con5ult3tton with our Scientific Medical Advisory Panel, the researchers will apply to Spen￿r Dayman Meningitis Research in the spring of 2025 to extend the projert for a further two year5. Scientific rnerit perrnittir￿ the extension wlll run to October 2027. The EKpetted outputs are: l. Peer-revlewed paper5 Ithe'2005 Act'l, the Charlt1fy5 A¢count5 (Scotlandl Regula￿0￿5 2006185 amended) and the Cttarltles Act 20111.thè 2011 Arfl- You are sJtlJfled thet your charlty 15 not requlred by chorlty law to be audlted and have hos*tt Instead to have an Independ?nt exarnlTratlDn. I report In respect of my examinatlon of the Trusys accounts a$ carrled out under settion 44 Illlcl of thè 2005 Att and section 145 ofthe 2011 Act. In carrying out my exarnination I have followed the requlrements of Regulation 11 of the Charities Accounts1Scotlondl Regulatlons 200613s amended) and the pppllCab￿ Dlre¢tlons 8lven bythe Charlty Comrn1551on under5ectlon 14515llbl ofthe 2011 ACL lttd•p¢ndent•xamln¢es stJtem•nt Slnce the frust has prÈparÈd its accounts on an atcruals basls and Is also reglstèred In Stt*tl3nd your 2xarniner must be a member of a body listed in ReBL6latlon 11121 of the Charltie5 Accounts Iscotlandl RegulatSon$ 2006 las amended). I can conflrrn that l am gu?Ilfied to undertake the eXamIna￿On because l om a reglstered memberof ICAEW whlch is one of the Ilsted bodles. I havo comploted myexamlnatlon, I wnflrm that #o matters have cometo my atttsntlon glvlng me cause to tselle￿ that In any matertal respect.. accountSn8 record5 were not kept In respect of the Trust a5 requlred by sectlon 44111 (al of the 2005 Act and Regulatlon 4 of the Charltle5Account5 (Scotlandl Re8uI?tlon5 20J6 la5 8rnendedl Ind sectlon 130 of the 2011 Att,. tsr 2. the accounts do not accord wlth those rerords; or 3. the accounts do not comply wtth the accountln8 requlTÈmeTrts Reguladon 8 ofthe Charltl*s Accounts (kO￿and} Regulatlon5 2(K16 la5 amended) and do not wmply wlth the appllcable reiulrements concernlng the fom and tDnténtDf accourrts set out in the Charitles IA¢counu and Reports) Re%ulatlon$ 2008 otherthan any ¥equlrement1hat the arcounts Ive a true and falr vlew whlch Is nota matter tonsldered as part of an IndepÈMdent èxarnlnatltsn. I have no concems and havè come across no other matters In connectlon wlth the examlnarlon to which attentlon Should be drawn in thls report in order to ènable a proper undÈrstatsdln4of the a¢count5 to be reached. Matthew Do Ins FCA Ounklews Charternd Accourtents Woodland5 Grange Woodl•nds Lano radleystoke Br15tol 6S32 4JY %4..fvJ.?..l￿Ls l2 SPENCER DAYMAN MENINGrris RESEARCH STATEMENTQF FINANaAL AcfiviTIES {INCWDIThIG INCOME AND EXPENDITURE Accoupm FOR THE PERIOD ENDING 31 I￿ARcH 2025 Unre5trirted Restrlrt¢d Fund5 Funds 2025 2025 Total Funds 2025 Totel Fun(ts 2024 Note5 Donations. Interest Fundra￿1ng events Total Income 56.346 62,765 119.111 119,046 13.219 132,265 57,244 62.765 120.LNJ9 EXpendI￿re on: Generating funds arltable acbvities Research Support AwarenesslEduc*ion 3.718 3,718 8,934 654 30,233 30887 4.961 3,463 9,949 4,319 5,896 4,961 3A63 Total eMpen¢frture 12,796 30,233 43,029 29,098 Net Incomebefore transfws 44A48 32,532 76,980 103,167 Transfers betyjeen fund5 Net move￿1 offunds In 44A48 32.S32 76,980 103,167 Reconciliation of funds: Total funds brou8hi forward Total funds ￿Trfed fotword 63,198 107,646 39A69 72,501 103,167 180,147 io 103,167 The Ststement of Hnanual Artfvltle5 indudes all Bains and losses Tecggntsed rn the year. Ail income and expenditure derlve from continuing adLwitie 13 SPENCER DAYMAN MENINGtTIS RESEARCH BALANCE SHEEr ASAT 31 MARQI 2025 Notes Unreslrktod Funds Restrlctsd Funds 2015 2024 Curr•ntAss•ts Cash at bank 108.936 72￿01 18IA37 104,067 108,936 72501 181A37 104,067 Credttors Amounts du• wlthln one wr 112901 11,2901 19001 N￿currentA5S0ts 107,646 72.501 180,147 103,167 Totsl hlet Assets 107,646 7L5QI 180 147 103,16? The Funds of th* thadty Unrestrlcted Income funds Dé518nBted fund5 Restrltted Income fvnds 84,752 22,894 84,752 22,894 43,138 20,060 io 72,501 72￿01 39,969 107,646 72,501 180,147 103,167 Theso ac¢ouThts have been prepared In accordance wr(h the pmlslons appllcable to charltable Incorporated or8anlsatlon5. These account5 were 4pproved by the 8oaTd of Tn151ee$on..... half of the boaAI by.. are s18fi¢d on Loulse Grahim Chalr 14 SPENCER DAYMAN MENINGms RESEARCH STATEME￿ OF CASH FLOWS FOR THE PERIOD ENDING 31 MARCH 2025 ZO25 2024 Cash ftows from operating actlvltles: Net movement in funds for the reporting period las per the statement of fi'nancial artNitiesl 76,980 103,167 Adjustments for: Decrease in debtors Increa5elldecreasel in creditors 390 900 Net cash provlded by lused Inl opÈrailng activltles 77.370 104.067 Change In cash and cash equivalents in thè rÈportin8 ￿rIOd 77,370 104,067 Cash and cash equlvalents at the beglnnlng of the reportlng pèrlod 104,067 Cash and cash equtvalents at the end of the reportlng perlod 181,437 104,067 15 SPENCER DAYMAN MENINGMS RESEARCH NOTESTO THE ACCOU14TS FOR THE PERIOD ENDING 31 MARCH 2025 l. Accountln8 Policies The followin8 accounting pollcles have been used ￿nSIstentlY In dea15ng with items which are considered material in relation to the charf(Vs accounts. lal Basls of Accounting The financlal 5taternents have been prepared in accordance with Accountlng and Reportlng by Charities: Statement of Recommended PractlcÈ applitable to charities preparing theii accounts in accordance wlth the Financial Reportlng Stsndard appllcable in the UK and Republlc of Ireland IFRS 1021 leffective l January 20191- ICharttie5 9)RP IFRS 10211. the Finanaal Reportlng Standard appll¢able in the UK and Republic of Ireland IFRS 1021 and the Charltles Act 2011. The charlty Is a publlc benefit entSty. The financial statements have been p￿pared on a golng- concern basls. The tTUStees con51der that the charity holds suffident reserves to achieve an orderly closure in the Unlike￿ event of a loss of fundnq. The flnanclal ststement5 are presented In sterfln8 whkh Is the fvn¢tlonal currency of the charity and rounded to the nearest E. Ibl Golni Con¢ern There continues to be a need for the chadty. Wlth no paid staff, the only major expendlture ¢omrnitment is research grant fundin& and there are sufflclent fvnds at the year end. held In deslgnaled fur￿, to fully fund the currènt research commitments. In additlon, the charlty holds £84,752 In ￿n￿$trIcted reserve& The trustee5 are sat15fled that the charlty Is a zolng concern. (¢1 Fund Accountlng Unrestrlcted funds are general funds that are avallable for use at the trustee< discretion In fuitherance of the oblectfve5 of the charlty. Restricted funds are those donated for use In a particular area or for speufic wrp05es, the use of which Is rèstrlcted to that area or purpose. ldl Income Income from donatlons, 8rants and cot)tracts Is recoBnised where there is entitlement, probablllty of receipt and the amount can be measured wlth sufflc1ent reliabiltty. Investment Income, tradln8 In¢ome and other Income are ￿¢0£nIsed on a recelvable ba51s. lel Expenditure Expenditure is recognlsed on an accruals basis. ExperKliture indudes any Value Added Tax whld) Is reported as part of the expenditure to which tt ￿lates. Expendlture on geneTatlng funds comprises ¢osts a551xiated wSth attrartlng income. Expenditure on charitable actNities comprises t￿)se costs incUr￿d by the charlty In the delivery of its research. peer support and awareness raising. It includes both costs that can be allocated directty to each of these and th05e costs of an bndireci nature necessary to support them. Support costs areallocated between the expenditure categories of thestatement of Financlal Activities on a ba515 designed to refiett the use of the resource. 16 SPENCER DAYMAN MENINGITIS RESEARCH NOTES TO THE ACCOUNTS FOR THE PERIOD ENDING 31 MARCH 2025 lfj Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or sertion 252 of the Taxatlon of Char8eable Gains Act 1992 to the extent that these are applied to its charitable objects. Igl Cash at bank Cash at bank is in a current account and short term deposlt accounts. Ihl Creditors Creditors are recognlsed where the charity has an obligation that will result in the transfer of funds to B thlrd party and the amount due to settle the obli8ation can be measured or estlmated reliably. lil DÈbtors Debtor5 are recognised where there is an obligation that wll result in the transfer of funds to the charity and the amount owing can be measured. 2 Income from Donations Unrestricted Restricted 2025 2024 Donations Gift Aid Trusts & Grants Legacies Gift5 in Kind 33,535 2,197 9,250 10,146 1.218 33,535 2,197 72,015 10,146 1,218 39,880 626 47.126 23,714 7,700 62,765 56,346 62,765 119,111 119,046 3 Expendlture on charltable activltles Unre5trlcted Re5trlcted 2025 2024 Volunteer Expenses incl Travel Research Grants & Equlpment Comms (incl PR & printed materials) WeblDlgltal Postage & Stationery Support Costs (Note 4a) Governance (Note 4a) 3,988 3,988 30,233 1,480 730 862 368 1.650 3.672 7,907 2,074 4,268 389 553 1,300 30,233 1,480 730 862 368 1,650 9,078 30,233 39,310 20,164 17 SPENCER DAYMAN MENINGITIS RESEARCH NOTE5 TO THE ACCOUNTS FOR THE PERIOD ENDING 31 MARCH 2025 4a Analysis of Support & Governance Costs 2025 Support Research Support Awareness Total Fundraisi Charltable Actlvltles rotsl 2025 IT costs Insurance Ico 29 65 13 107 117 66 13 196 146 196 26 368 61 66 14 141 207 262 40 509 65 6S Govemano Research Support Awareness Totsl Fundraislng ChaTltsble Activities Total 2025 Independenr Examiner Professional Advl Tax Return 340 340 1.020 1,020 120 120 120 360 360 90 90 90 270 270 550 550 550 1.650 1,650 4b Analysls ol Support & Governance Costs 2024 Support Research Support Awarene55 Total Fundraisin8 Charitable Actlvltles Total 2024 IT Set up costs Insurance 127 58 126 58 127 57 127 57 507 230 173 185 184 553 184 737 Governancè Research Support Awareness Total Fundraisin8 Charltable Activitles Total 2024 Professional Fees re Set up 134 133 133 4c￿) Independent Examiner 300 300 300 9CX) 90) 434 433 433 1,300 1.300 18 SPENCER DAYMAN MENINGITIS RESEARCH NOTES TO THE ACCOUNTS FOR THE PERIOD ENDING 31 MARCH 2025 5 Independent Examinerfs Remuneration 2025 2024 IE Fees 1.020 900 6 Staff Costs There are no staff employed by the charlty. No trustees have been pald any remuneratlon or recelved any beneflts from an employment wlthln the charlty.12024- £01 7 Relatsd Party Transartlons Donations were made by 2 trnstèes,, 2025 2024 Quentin Stott Stephen Gazard 10,116 677 10,793 Expenses were pald to our Prlnclpal offl￿r, Dr Steve Dayman MBE.. 2025 2024 Travel & Subslstence IT Costs Fundralslng Support Costs PostaBe & StatSonery Comm5 4,355 151 241 6,472 547 377 1,406 63 519 6,256 7,915 No trustees had expenses relmbursed.12024- £01 8 Credltors~ Amounts Falllng Due Wlthln One Year 2025 2024 Accrua15 and other creditors 1,290 900 1,290 900 19 SPENCER DAYMAN MENINGIT15 RESEARCH NOTES TO THE ACCOUNTS FOR THE PERIOD ENDING 31 MARCH 2025 9a Analysi5 of Net A55ets bÈtween Funds Currentyear 2025 Unrestricted 2025 Cash Creditors less than l year 108,936 11.2901 107.646 72.501 181.437 11,2901 180,147 72.501 9b Analysis of NetAssets between Fund5 Prevtous year 2024 Unrestricted Restrirted Z024 Cash Creditors le5S than l year 64.098 19cKII 63.198 39,969 104.IA7 19001 103,167 39,969 10 Movements on Funds Balan 31 Mar 2024 Current Year Balance 31 Mar2025 Income Expenditure Transfers Restrtcted Funds Rèsearch Total Restrided Funds 39,969 39969 62,765 62,765 130.2331 130.233 72,501 72.501 Designated Funds 20 2,834 22A94 Unrestricted F￿r￿S 43.138 57,244 111796) 12,8341 84.752 rotsl Funds 103.167 120AK19 {43.0291 180,147 Research Fund: Fund5 re￿IVed towards current saenttfic re5e?rth project belng undertaken at Spencer Dayman Laboratories at Bristol Universlty. Designated Fund-. Funds required for the completlon of the current research projett commitment. 20