SPENCER DAYMAFI MENINGMSRESEARCH
FOR THEYEARENIXNG
(harltyNumber% 120#02 EY*land •nd W41

SPENCER DAYMA14 MENINGMS AÈSFARCH
INDEX
General IAform•¥on
TNstees ReFort
Trustees Re5ponsibilitie5
li
Independ•nt Examlner5 Rèport
Statementof H￿n￿OI*￿t￿lIeS
Balance Sheet
14
Statomentof Cash Hows
Notisto th* Actour
16

SpEN￿RDAymAN MENINGms RE5EAROt
6ENERAL INFCWIKf4
tharttyNumber. 1202Z02 ond SC052732
Trpe of Charfty: Charitsbk IncorForaied OT8anlsètion
Prfnupal & Rqtsteredofftc•address
Homeside
Old Gloucester Road
ston
Br15tol
B535 3LQ
toulse Graham-chalr
Stephen Gazard
Stsphen S Dayrnan Jnr
Quentin Stott
Davld B￿ker
Prlndpal Olfic•r
Dr Steve Dayrnèn MBE (Founder)
5d•rtlfkM•dk•l Ad%4sory P•n
Professor Paul Langford BSC PhD CO101 FR5B
Professor Ray Borrow PhD MRCPath
Dr Carollne Vlpond
Professor Saul Faust FRCPCH PhD 08E
I1￿ependent Exarnlner
M3tthew Dobblns FCA
Dunklelschartered Certif*d A¢u)untants
Wt)odl&nLls Gr8n8e
Woodlands lane
Bradleystoke
8rlstol
BS32 4JY
Bank
Lloyds Bank
PO Box IOCK)
Andover
BXI IL

TheTTUStee5 pr￿entthe1rTep0rtto￿ther￿lththe finamtal statdnents fortheyearendlr¥31
Marth 2026.
Int￿dUctiOn fromthg Chiir
We a￿ dellghted to preserrttoyou the 2026 Report and Accountsfor s￿￿or Dayman Meningrtis
Resezrch, which showcasesour£hariWs progressand ￿hIevements ￿OUr3¥d￿n3nd￿I year 202S.
2026
Th15 year has been one otsl8nWkant wogre55 byexceedlTre ￿Jrfinè￿aI tsrgetsLV￿ aga>Th. We ar
proud that thlsvoluntsry charty wlth no paid staff 15 I￿lId11¥ noteworthy momentum.Throu8h thts
yearfssucce55fvIfvndralsln8 endeavours we have be￿ a￿tt0 s18nif￿afttty exp•nd our
preventatfve research porrfdlo wh6ch now ￿ude$ 3 preven1at￿e re5earth projects ￿1￿8
undèrtaken * the Spencer Dayman Meninkitts Labortorle4 Btistol V&drtè C*ntre, un￿er￿tyof
Brtstol.
We extend our 8ratknde to oursclentlfic Medi¢al Ad41sory Panel forthelr8eneral •fvlce and
guldance, 8lvln8th¢lrtlme to evaluate and rnonltor our research proFects. flerv)wned lorthelr
knowledBe and experfene¢ In Inféttlous dI￿Se& thelrvast understandin8 in th￿r re5pectivelleld$
5 lthvalu¥b1o to US ond enyjrtsthls charlty funds felevant, meaniWI FYeveThts￿ resoarth )f the
hldhest qualty.
Thls $ub$t•ntlil ad¥anrern¢nt would not have been èchlwed wlthout the coDtinucd dedlutlon and
rtwavering commthentof oursUpp￿ters, volunteews and tntstees and we ar? proud to share thls
achlevement wtththem, so many of Whom are famllles who have been affected by menlngttls and
nlhprasqnrlatprt Ill￿349£ ThpfinanrL•l siipDtsrt(>lgrAIII FDuThlatlons. communlty
or8anlsatbns, companle5 and Indfvidualsw35 trutyapwedated.
The drI￿n&forCe behlnd ourchartty15 thè heart*reaking realltythai hKldence of menln8ltls has
Corrtinued to following the low nuM￿r of rKtrfficatlons durfTh8 the Covld pérk*d aad that th*ro
arestlll rnarry Infethonsthat causè meThin8ltis alldothEr a550ciatEd dlseasesthat are notvacclne
preventable. Sadly. menln&ococ￿l meolnglils wasln the in Marth 2026 th an outbreak In
Kent domln*ln8the headllnes whkh rèsuked kn 2 d*ths aNJ 20 confimied case5 of8roup 8
menlngocotcal disease.
Th15 5ubstsntlates rhe wntlnuln8 ImportarKeof ouvvitsl worl tolund pre¥entafve researth,
Improve dl>6nosis Into meThln8hk%, sepsi$ aftd othera%od•ted dlsease5. SUP￿rtIaMi11eS affectEd
and raL%e awaren¢s5 Te8ardlng the 48n5ar*J symp
Louis• Graham

SpEN￿R DAYMAN MENINGm5 RESEAROI
TRUSTEES'ANNUAL REPORT
FOR 7HE YEAR ENIXNG 31 MAR012D26
Spencer Trdyman Menlw81tiS Researth was re8lsteredwrth the CharitythnYnbg00 forEnWand and
Waleson 6 March 2023, and wtththeoffice of the kntti5h (hawity Re8ulatoroTh7Au8￿t 2023.
fhÈ objeds ofthe charltyare..
I. To 3cfvants the eduotlcn of the publk In £enetal Iw)d pardcuknrty scientists) in the
preventlon and tr&*ment 0fmening￿$ and Other a5500ated d￿se5bY prtsffth(￿ and funding
resÈaith for the public benefft In all aspects of that subject and to putlL%h the usefitl results.
2. Forthe publlc benett to Well￿the needsof tkne affected by Men￿and otherassodated
d15ease5. and theirfamllles ty meansotr.
a. the provi5fon of peer-to-peersupport and practlcal 8thice.'
. ral$ing publlc awar¢ness.
The Trustees confinn thattlw have h)d reR•rd to pybll¢ benefft gulthce publLshed by the Charfty
Cdmmlsslon In deternlTrln8the actlvw undortakert bythe C￿rIty.
The chartry does not emplry any5tsff and rn11￿ Q￿relY9n volunteer4 Indudln8oui Prfnrlp¥l
offl￿r. Dr Steve DayThan MBE who aLw prrylldesthe ofts, rnte4 heat and light•t notharye tothe
charfty.
Achlw•m•nts •nd P•rfttm￿c*
The charltyWè5 reg15tered on 6 Marth 2023tosupp)rt preventatfve 5denfft yesearth Into
menln8itis and other asS￿la￿d dlsease5t prtsvidè peer support to Famil￿$ afferted bythese
Iseases and ra15e awamess regardlw ImF*xtè￿e ofrewislryth•sl8ro ondsymptoms of
menln8ltS5 and other asso¢lated di*ases.
The charlty's web51te {VfflNT4P¢tK•rd•yMxthenlr4llkre￿ffjl our Importantwork
Sncludln8 pfo¥ldln8 dlseasehcts. We are also aCtb￿ onsoclal medla p￿rm51nd￿dlng F8￿b00￿
Instagra5ll 4nd Llnkedln.
The tharitV$ prlftflpalalm ts to finantial￿ YJPkKVt pTw•Thtatl%•re587rth * thèSp•ncer
O•ym•Th man1￿$ L•bor•t¢rl•s. Brlrtolvatdm Centre. Unl¥wsltyot BrLstol.
P￿resS contlnues globalty fe8ardl￿thedeYetO￿￿fitof safe and Effectfve ¥t￿￿bith SpenceT
Oawnan Menin8itis r(esearch Whokheartedtysupkm)￿.
The Te5earther5 atthe Univer5iryof Bristol hève wortdrfenowned reputatrsns and have ￿ted
InvestigatOT5from around world. The5ewsit5 enhan¢ethe global sti¥rtificknowled8e of
menlngltls and thherak4odatÈd dlsea

SPEIKEA OAYMAN 141ENINGmS RESEAACH
TRLisfEEYANP4LIALIIEPORT
Spencer Dayman men1ryt￿ Resear￿5 preveTrta¢fvefe5eartfi wwtfulbls￿￿1Hed
Grfj￿ ASlr•ptocry¢w16LS) or%tr•pA' ￿l$eStiMatedth3I GAS rawsowhalf a million death5
each YearWorl(￿lde. tnany of whom are chibjren. The diseases Ca￿ed byGASha¥e been increaslng
ln recentyears, despite the avaiiabilityof antilyoticstotleatthese Irrfertions. GAS bartwia are
USual￿t￿nS￿lIted through the throal mouth and nose.
vacdnewhlch¢ould pre¥entGLSfrom infeclw¥thethrnaL mouth and wou5d greadyiedute
thelmpa¢t of 6ASélsea5es. It Is one of the maln causes of sepsis and a wldewarlety of severe
Invaslve" Infections such as the brain Imenlngitlsl, skin cellulitlsl. chest Ipneumonial,
bones and lolnts. larthrtti¢ *P5isl and heart disease (rheumatic fever).
Thert ts novaccine avallable for GNS¥ThlltlS￿deafwh1th parnsof the barterfa Icalled 8ntigen51 to
Include In a ¥ac¢lne.
Avlator Group Astrep IGASI Study. ThlsstsJ(tywhl¢hcrMnme¢)ced In O¢wber 2011 has made
$18nlflcant pro8Tess whlch has inspired the In?￿StigatorS In the Spenw Dayrnan Re5éarth
Laèoratorlesat the Un￿ers￿Of Brlstol to $uc¢essfvltyapplyforanotheT 2 year5 fvndlng. The
prole¢twlll r￿W£onl1DuI untll ￿tober 2W47.The rexarch 8rowin8 ¢dLsfr0rn tonsllsof
patlents which were remowd durlng rO￿￿fie surgery.To doth15theteam wlll separatèout the celLs
4ndthen 8rowthe celts In the laboratory alon8slde dlfferent parts of the GAS bacterla.Theywbll
then mèasure thè Imrnunè ￿PonSe of the tonsil ￿1]sfrOM dlffefent donor5 to help them make
dedslons on whlch parts of the bactsriacould be ts)cluded In a swcessfvl vacclne.
L•ad ￿18￿￿$ts1OrthlS re￿¢th projett arè..
Dr Anu Goenka-alnlcal LeLturer& H¢IrK*raryc￿Utsnt Paedkitrfc lrnmunoloBY & Inf•ctlous
dlseases
Dr Alice Halllday- Letturerln Infe¢Elous Dseases
Prof Daryl Klll- Profe5sorln Infettlous D15ease5
Dulln8 the year underrevlew Drfjoenka presented hls research atthe EUm￿a￿s0dety0f
Paedlatrlc Infectlous DLseases IESPIDI Conference Injune 2025 &The UK PaediatrirVacdnEGroup
IUKPVGI annual meetlT¥ In Dttember2(FJ5.
fjold b1onanownlurtateslgri￿ rapld detettlon ol bxterla gep515, mon1￿5 arKI
other Telatlngi4sea5e& Thi58roundbreaknrq projert ha5 been extended to O¢tober 2026. ainsto
provide evldenceto develop a r8iMd diagnostic tetttodetetta rary of b*erial disease In¢ludlng
m￿1￿¥￿￿$ In 5 mlnutes.
Early onsetof rnenln8Jt15 and sepsls Isvery dlfflcult t¢ detect and delty In mÈdlcal treatment can
often be ¢atagtrophK. In ordèr to infomi the most Importsnt type oftreatrnerrt. itls e55enti31 to
identify if the infe£tbn i5ous¢d by bacterlaora VI￿sand wuficaltywhlch barteria.
At present, Identffk*lon can ￿ Stow, inaccvrateandoften teatht)gto death and dlsablllty. The
Introdurtion of a rapNd dia8nosttc kit hasthe fftntialtsbe fo15ed outtsotonly in hospital
enwro#ments also heath ￿ntre$ and GP surgerle&
ieed 5cientlsts fDrthL5 prolectarE-
Prof Darryl Hlll-Profes50r In Infeciious Di50a$85
Drsean Davis-SeNor Lecturer

SpEN￿R DAYMAN MENINGMSRSEARQI
TRU5TEES'AN14UALREPORT
FOR THE YEAR EPIDING 31 PAARCH 2026
anuscripts are cUrrent￿U[KIer rkn. before sukniwontrWir3tion.
Diagnostlc E￿￿atIon o¢Taryt•d PCRfor EaItyC4Xffi￿ of GroupAStreptocow IOETEcn
The D￿ECT study to start September 2026 will de¥ek)p a new bhJ)dtest U5ingadvanc
molecular tethTh)￿￿to Idenilfy IrNasiveGroup AStrePtococcal liGASI batteria eadler and r￿re
rellèbly. Faster ¢lagnosiswill lelp dottors5tsrtthe r¥httrtrat￿nI scther. Improve survlval,
Op￿mISe antlblotlc use and Tedu¢e stuftywlllaFso devel(Ip nEW Wavsto read the
batterla's geThetlc code dlrec*ty frorn bk￿ sample5. eTwbl1￿ ￿l-tIMetraCkIry of outhre8ksand
how the bacterla 15 eV0￿1n8. DETE￿wIll SI￿ARthe￿ thild health resert tmprtsve thnt
outcomes and supwrt better plannlngforfuture vacune
Lead scient15t5 forthi5 prolett A￿..
Dr Conor 0'DonoVa￿ NIHRAc4domlcalnkal Foll¢￿ & SpttlaltyTrainee In Paedlatrlcs
DrAnu Goenkn- SenlLY Lecwrer & HonoraryConsull¥rtln Paedlatwk Immunoknand Infert￿￿5
D15eases
tK Allce Halllday- Lecturer ID Irrfectbw D55ea5e&
We take 8reat ￿de In ensurfng that the preventativere5earth we fund Isof thÈ hl8hest quallty wlth
the reassunncegf our emlnertklentilk M•diul Ad¥lsory Panel to gjperyise ihe pe¢r ¢evlew
process.
The chaiity promotes awarenessottht Importantsw and syMpton￿of menln81th and other
assoclated d15ea5e5 cfj lt5web5ftetoget￿rwlth otherd5se#se 1nf0miat￿n. Many larnlltes wh¢ have
experlenced the traumi that menlnRItIS and other assodated dlsease cause share th*r s￿￿eSon
our new$ pi8esto help ralse awarene5S.
Dlsease avA ￿nets Is atso promoted throu8h so¢lal medla plorforms. News iterns ￿reats0
dlstrlbuted to the prlnt medts naEioTwlty. Symptom cards and leafiets a￿ distrlknd byvolunttèrs
to variou5 lotations local io where ty lfve. Injanuorythe tharty pu)Alshed a new ieaftet forthe
8enwa5 publlc fe8ardlNq IM￿rtant Inlorynatlon atjout InvasN* GroupAStreptococ¢•l dS¥ease.
Ourfngthe yearfounder Drsteye Dayman ￿sIted 22 famllle5who have expETterKed m¢nln8ltls and
other a550claled diseases to prowde peer-tweer sur•￿(, andotherf8mille5 were suppDrted by
phone and postal correspondence.
Fundtalsln8Athkle5
Famllle5 that hove been affetted by ￿￿TrInK￿t￿and other awdateddtseases conttnue to bean
Insplradon io us zll. Fundratslrwwasorr*d out by S￿rt0￿.￿￿Jn[eer$3nd membeT5 ofthe
ganerdl puNlo Noextsrnal a8entsweTe used.
Supporterfvndralsln8 included..
The annual Sam Memorial Walk and Famifv Fun1R￿nderS Dayln Gk)uceS￿rsh1re agal
ex¢Eeded over f3,IKMI.
CU￿raine Ru8by Club£3,C¥XI, In merrnryofcarl Mortelth.

SPENCEA DAYMAN MENINGMS RESEARC
The George ZoBraphou memortsl foothall matth in Bristol Wa￿ed £l,gJ).
The Geor8e Moore mernorièl bowJ5 m3tth In PrESt[￿raISed£?33.c￿I.
The Partridge Pub In WatF¢rd, ouii rd￿￿ £485.CK) In memory DfJa50n Murrov.
PhoeniK Sport5 Cue aub. E&swod, Notts Ta15ed £IAhJ) in memory Dfjorthn BarbeT.
Nemlle Green'sannual goEf in memoryof hig nR(eAleY2¢Klro ralsed £830.￿.
exa￿er Fox ond hls frfendcaroline Eckhardt ra15ed £967 ruhnltva the AJ Bell Gli$8ow HI
Marathon In memory of Are￿nderf5s&trrUara. Ethrti C￿e Fund £2,(1)O
Th15 yearthe dwrttyWagsJc(e55￿1 In securfng5o￿I after pthln the London Vltallty IOL
September 2025 and the London Marnthon andthe London i•rtdm•Fks Hllf M•rnthon in April 2026.
These events ha¥e ralsed slBnlfkantfunds in thefinarKlal year.
Manyofoursupporters andtrustees made pet%mal donatiow wjth ￿l￿￿On$ throu8hout
the country or have tsken on Iheir own lundra1￿￿￿nl
Gronts from charltabletrusts wnd foundatrorjs ¥Msthechart￿slaT8eSr irKome5tream. OurslrKere
thantrs 80 to thefdfowlngch•A¢•bleor8anlsatlons wh05up￿rtedthecharfty wlth 518n￿1cant gifts
thls year includln8'.
Staflord Trust, Felt< Sh•w FoundatlDTr, SamphlreTnrtSabman Foundatlon. Ulzabeth Way
Charltsble TrusL N DruckerCharitablèTru5¢ Bryan Gulnne55 CharftsbSeTrusL The Pbllanthroplst.
Sto¢Weyiaiffe Charftab5e Trus¢ StrxlwelVCITffe charitrble Tfttst, Oakdale TWSL Aorents Shutt, J
and M Britton Char1tab￿Tn￿l Slr s￿tsel Scott ofyews AnnettTrusL Mithael WatsonTrnsi,
Genw5 Le8acy,XCZTrusL The Lo¢kettTru
Flninclal Poslllon
Ourlngtheyear the charity ralsed £181,844. EKpendlture was £95.048. OurprudenE ￿nagement
of funds dofi*ed byoursupporters kept ourfvndratsingwenditure tolurt ￿r£ofj8 forèvery£l
Tal￿.
Ourwrpluswas £86.796 and at 31 Marth 2026. we have £73,959 In restrfjcted funds, £169￿24 In
de4snated funds (the amount ¢ommllt•d b4rt not covered by restrlcted funds èt31 Marth 20261,
and E23,960 In OUT unrestrkted fvnd. Cash held on 31 March 2026wasÉ268.197.
Full detalls of both Incorne and Expen&rtUTe (an befound In the rthaccompanylng the Acwunt
The trustte$aresathfied the ch•rityts a 8tyn8 ¢<￿eM aThlfftfor PUTwse. lftthetrusfre'5 vlew, the
reseNes should Fmide the chaFityW((h 3￿q￿te firwnclal stabllltyandthe means for Itto meet Its
charitsble oblectlvesfor the foreseeable future. Wth no paid staff orp￿MIs￿ the trustees alm to
hold sufflclent fvntls to meet it5 primary expendTture commltmentsvthlch15 its research bJndlnB. At
31March 2026 a furthef £128I74 wa5 required tofvlTrlthe2 yearofthe oFfE￿wo]eCt
(approved in Ortober 2025to start in September 2026 for 2yeatsl. Th*trustees are conNdentthat
thi5 shortf311 w111 be rnised durtngthe Z02fv2027 a¢￿￿ti￿ yeai.

SPENCER DAYMAN MÉNINGtns RESEAIQI
TRUSTEES, ANNiIALREPORT
The Trustees reYiewre5er¥ES re8ularty. Free reser¥es are unrestrftted fvnds ￿dUd[￿S deslgnthd
funds.Thetsrget forfree reserve5 15 to hold approxim•tety 12 monthsof annLthI COstsexd￿l1ng
researchto enable the charityto ensure continuty in rts Su￿r¢ awaTrrse5s and fundrai￿ng
aaivlty. As èt 31 Ma￿h 2026. free reserve5 *Ere£23960.
As al31 Mirch 2026. all the ftjnds requlred forthe Temalnderofthe A¥lathrafvl Gold research
projects are held in restrlcted ard dewated frJrKJs. AndthE tostof thefirst year of the new
DETECT research Project Is ako hetd In dÉsl8nated luNls. Totsl re5tr¥rted resew at 31 March 2026
ère É73,959,*Sesl8nated reseT¥tsare £169,024and Unf￿ rp¥effts are Q3.W.
Strurture, G¢wern4nce and ￿Tr4￿M•nt
Spencer Dayman Met)InAIt& Reseèrth lsavoluntary thartty7Mth no pad Staff. based In A￿eston,
BrLstol.
The Chartty was re8lstered whh the CharltyComml￿on on 6th March 2023 and wlth the Scottlsh
Regulator IOSCRI on 7th Awu5t 2023.The ¢harity ts coritrolleil by it5governln8dowm¢nt'.
Constltutlon of a Charl1ab￿ Incorporated Or8arslsatkn iaoi. The strateglc dlrettlon of the ch3rlty15
determlned bythe Board of Trustee5 Irr consultatlon wlth the Ptlncipal 0f￿r, Dr Steve Dayman.
The TN5tces m¢•t•t least4kniesa ye•rtoengJrttffeth 80Vern￿ and 18oln5t
bud6ets. A system of delegatkn Is In Pl￿ aThJ day-ttrthy resFonslblltyfor the operatlon
of the chèrfty restswlth the Prindpal Officer. Workln8d05ely wfth thè Board, the Prlndpal Offfcerls
responslble f0rènsurtn8thatthe*￿rk of tt*ch3rtty Fs camed out In Ilne wlth the strateglc dlrectlon
deieymlned bythe Board olTrust
The char￿¥ trustees are mindful of su1tsblysknl￿ personsto Joln the Board and, thtnU8h thelr
netwerks.they 8rew8trhful for ￿entIal¢8nd1dateS.
In a¢Wrd0n￿ wlth the ¢horlVs iovemlw d￿￿MeNt. TTUSteesStephen D)ym8nJnr and Quentln
Stott Ènded thetr3-yÈar tenure and offeved themse￿¢$ for re4edion. Try were formalty Te-
elerted fora further3 ye•rs atthe Iru5tees Mee￿ng￿l Mrtl 2026.
Ply and Expens
spern￿r Oayrn¥n menINg￿LI Researth lsa¥ohrtarytharityWith no Nld stsff. AIthou8h theirustees
tan clalm travel exp8nses. none were clalmed durin8the year. ￿mIlath, the Sd2ntlfic Medlcal
Atfvisory Panel were nol remuneTrted did they dalrn expen5e& Expenses weredaimed tyour
Founder. Drsteve Dayman. and these are detalw In Note 7kntheActounts.
Plangfor 202&2027
Spen¢er Dayman MeninBlts Resealthwill (Trttinue to wlowfjtse Its o)re mi55iDn of Pre￿orIng
menlngltis, sepsls and othera550¢iated d￿taS￿L The new r*eHrth proied will commence
in SÈptÈmbÈr2026. Buildine on thÈ pr(*re55 of the last 3year%. durfnE thelattÈr part of the 2026-
2027 Nnanclalyear. In consultotlon wtththe chartys Sdentffic Medlcèl A￿sOry Panel, the trustees
anticipate irwkiinB reseaTther5 atihe Bri5kn1 Vaiclne Centre, UnNersityDf Bristol, to app￿fOrgra￿t
aldtQ5UPPQrtfurtherlnnovatlve preventative re5eafth into these di5ease5.

SPENCER DAYWIN MENINGtns RESEARCH
FOR THE YEAR ENOING 31 MARCH 2026
The charFtywill akn continue to Tr15eawarene5satroutthese (knasesand provlde peer.tO-peer
SUFVOrt and practlcal a(knto famllles affeaed.
There a￿ no plan5to ernpw paid staff and we ￿1[ ￿￿tInuelore1¥ on ourvolunteers and
5UPPOrteTSto help usdeliver¢uiobiecb
Rlsk Mana8eme
The Tru5tee5 ?re aware of the requ1rementunderthestat￿ent of Re£ommeTrded Practice 2019 to
regularty assessoperatlng strengths. weakne55EsafKI rtsks. Thetr￿te¢S haye tyen conslderation to
the major ￿$k$the£haTtymty bÈ arKJ aresatlsfled th8iappropriate ￿ntr￿S have been
establishedto mana8ethose wk
Publ1¢ Bgntffit
l of the charws purpose5 and actmtles are forthe pubik benefiL Thetrusteesconfinn the tharlty
h35 ccmplied wlth the dutyset out In Sectknn 17 of the tharities Art 2011 to havedue reRard to
Public eenefit EuidarKe publlshed by the Charhycommlssion. The P￿￿1paI area of publK benefft 1$
the advancementof heakh and savlng lfv
Fundralstni Stsndards
Spencer DayThan MenlnEItL% Research Is reglstered wrth the Fund￿151￿ RegU￿tOr ID fiumber FR.ID-
274668.To datethe charfty has rece￿ed ￿cOMplaInts about its fundrai51￿ è1tyitlossln¢e 1¢ was
registered in March 2023.
Comp￿Ints *nd S*1￿￿ld￿
Durln8 the year under re￿ewIhere were no comF4alnts orsafeguardln8 ts5uestoa&Jr
10

SPENCER DAYh1411 KNINGmsftÉsÉAR(H
TRUSTEES, ANNUALREPOXT
FOR THE YEAR ENDING31 MARCH 2026
The trustees of Spen￿r Dayman menin￿15 Re5earthare reS￿￿$1blet0r prep3rin8the Tru5tee5'
Annual Report and the flnanclal statements in acCOrdar￿ wlth oppltrknle kwand United ￿ngdtsM
Accourtting5tandard5 Iunited ￿ngdoM Generalty Accepted Ac¢ountlng Practice).
CharltyComrnb5KJn requlrpsthetru5teEsto prepare flnancial statements for eath finandalyeaT
which give a true and falrwÈw ofthE 5tste ¢rfatrdi¥sdthe tharltyand of the ItKJ)mln8 resources
and appllcatlon of resources Indudirb8 thÈ Income and expÈndittire, forth* Year. In prepartn8
these financial ststements, thetruthes are requlredto:
selectsUita￿e accoUnt5￿￿lde9 and then apptythem consbtsntly.
obser¥e Ihe method5 wlndples In theCharlUesSORP:
mèkelud8ernents and estimates that are rea￿Tra￿e4nd Pfudent,.
state whether op￿1£1ble UK Accountlry8Standards have been followed, yjblea to ary
motet1al departtsw dlsclosed and explain￿ in the fironoal statem•Ats,'
p￿pare the flnandal statementsonthe 801r8c0n￿rn baslsvnless It 45 Inappr(wlaieto
presume thatthe tharfty wlll contlnue In operntlon.
The irustees ire respon$lbletor keep1￿ adequateac(¢Junt[￿ recordsthat dtsdose. wlth reasomble
curacyl at arrytirne thefinan¢lal p051tlon of the tharlty and enable thern to enwre thatth¢
ITnandal 5tatem$nts coMplyw￿￿ the Charrf(Its Act 2011,the Charlty (p£thwntsar￿ Repertsl
Re8ulatlons 2[￿ and the of constit￿lon. Try are alsoTe5ponsbi le forule8Uafdlni
the assets of the charlty and hence fortsktw reasona￿e steps forthe prevention and detecuon ol
frèud and other Irregulariti￿.
Thls re￿rt¥￿I ap1m￿yed bythe Board on
26and signed on its behalf by
LtyJls*Grahm ¢￿Ir

SPENCER DAYMAN MENINfjffS RESEARCH
INDEPENDENf ExAmItILg￿ RÉPIXT
FOR THÉ YEAR ENDING 31 MARCH 2026
I reportto the tharitytrusteeson my examlnatlon of theaca)uDtsofthe tharftyfortheyeaT endEd
31 March 2026.
Re%￿nsIbl￿ ba%5 ofrepxt
A5 the trustee5 of the chèrty you are rÈsponsibleforthe prepara1￿n d the ac￿jrt5 in accordarKe
wlth the requirements Oft￿cha￿tte$3I1d TFYStee IrNestment (s￿tIan￿) ALt 2LX15 (the'2(￿5 Ac¢l,
the Charities Accounts (Scotlandl Regulatlon$ 2(lJ6 la53mendedl andthetharr(ie5Act 2011 Ilhe
2011 kv). You are 5atlsfled thatyour tharity Ls not rLyulrÈd bydwritylaw to beauditetl ar￿ have
ch03en Inmead to hwean Independéntèxamlnatlon.
I report In respert ol my examlnaiion of thecharitys ac£ountsas carrled out undersecdon 44 Illlcl
of the 2C(J5 Act and secllon 145 of ihe 2011 ACL In caThytn8OUtmyexamlnaiion I have followed
the requlrements of Regulation 11 of theCharttlesAccOunts15co￿and1 Re8ulatlons 2(M)6 las
amended) and the applirable Directions glyen bythe Charity Comm￿on und¥sectloTh 14515llbl
91 the 2011 Act.
lttd•pqnd•N exgmlnerfs statem
Slnce thetharny has p￿Pared Sts accthjnts onan atcrua15 b35band Is also reg15tered In Swtldnd
your examlner must be a m*nberof a listed In Regulatlon IIIZI of the Char￿eSA(￿Unts
Scotland) R•guiatlons 2fth l•s •mend¢dl. I ￿ corthnn th* i am qualifiedto undertake the
examlnatlon because l am a registered rrbemborof ICAEW whkh Is oneof ihe1151od bodle
I have completed my e%aminaisori. I tonfirmthat nomatters hrneome to myattentlon g￿lfi& me
¢au5e to bellevethat In any material respect..
l. accounYn8 rtto¢dswtré kept Ir• respectof the thartry oswulred tysectbn 44111 lal
of the 2005 Act 3NJ Re8ulation4 of the Cha￿leS A¢o)untsl5¢oilandl Re8ulation$ 2W6 las
amendedl and sectlon 130 01 the 2011 Ac(. or
2. the •¢¢ounts do nota¢¢ord wth those record5: f
Ihe accwnts do notcomptywith the ac¢ountln8 wulrements ReBulation 8 of the Charttie$
Accounts IS¢otlandl Ae8ulatlons 2C*)61as amendedl and do not Comp￿ ¥Ath the athlcable
requlrements wncernin8 the fofm and content of a(￿unts Set in the Charitit5
(Accounts and Reports) Re8ulattons 2￿8 olheT than any requirement thatthe accounts
8l¥e a'true andfaiivlew whlthls nota matter consId￿ed as part of an Independent
examlnaiion.
I have rKb wncern5 and across no other m3tters lrttMnectton wlth the oxaminètion to
which attention Should bedrawn in thts reportln orderto enable a prcper understandlng olthe
accounis to be roacho
Matthew Dobblns FCA
Dunkws 0￿rtered Certllknl AcwuTrtants
Woodlands GTrn8e
Woodlands lane
Bradleystoke
Brlsthl
¥$3Z 4JY
12

SpEN￿R DAYMAN MENINGMS RESEARCH
srATEMENT OF FINA140ALAcnvmES
{V4CWDINfj INCOME ANO EXPENDITURE ACCOUMn
FOR THEYEAR ENDING 31 MARU120Z6
T+atal
Funts
ZOZ5
Fund¥
Intom•
Donatlons
Interest
FundraisinKevents
Total Incom•
70I75
177.764
119,111
898
iio
70.875
181
120,039
E%￿ndIt￿r* on:
Generatlngfund5
Charltable actfvltles
Research
Svppert
AwafÈness/Educatlon
14WI
14001
3.718
512
6360
3.958
69,417
69.929
6360
3,958
30￿87
4.961
3,463
Totsl •xp•ndttur•
2S.631
69.417
95.048
43M29
N•tln¢om• b•f(Ygknn¥fo
85338
L458
86.796
Transf•rs between fvnds
Net movem•M ollundsln
li
8I79G
76.9&1
Reconclllafjon of furmts..
Tor81 fund5 bfOU8ht forward
Totslfunds ¢arrl¢d loryiard
107.646
n￿01
I￿,147
166,943
lQ3,167
180,147
li
192.984
73J59
The Ststement ol Flnanclal Indudesallplnsand1055e5 reco￿￿ lnthe ¥eaT.
All income and *¥pEnd￿￿re derfV￿fr￿M contknuln8athlUts.
13

BALAN￿ SHE
ASAT31 MARCH 2026
Fund5
CurrentAwts
Cash at bank
194.238
73J59
268,197
181,437
73.959
261197
181,437
Cr•dltors
Amounts due
wlthln one y¢4r
li2￿)
11.2541
IL2901
N•tCUrr￿*ASS¢
984
73.959
266.943
180.147
Tot•1 N•tAs#ts
io
192,9B4
73,959
180,147
The Funds oltht
c￿rtty
unre￿￿tted
5n¢ome funds
Des18nated fuThJs
Restrfctéd lfftcorne
funds
23￿1
233&)
84.7S2
169.024
169,024
22,894
li
73?59
73.959
n,501
192,984
73959
266,943
IW,147
These have been prepBred In aCcordan￿wIth the pr￿￿l￿nS*PplIratsle to tharitabl¢
Incorpoffdted 0r8anlsat￿%
These accounts were approved bythe 8oard ofTru5tee50n_.
behav ol the board by:
- 2026 a￿j are sl8ned on
Loulse Groh&m
Chalr
14

SpEN￿R DAYPAIN MEPIIPIGMS RESEAROI
2025
Cash11ry*5from opwot*rfa¢tl¥ltieY.
Net rtwvement in funds for the rek*XtirYye¥las perthe
statement offlnanclal actMtle51
86,796 76980
Adlustmentsfor
De(￿aSe in debto
1ncreaselldecre￿} in creditor5
39J
Netcash provlded by lused Inl operatln8 artwri*S
86.7￿ 77370
Ch￿￿ Sn cash4nd c4th•gufv•lwtslnthe rep￿tk￿y
86,760 77.370
Cash and 4sh equl¥*ntsatthe beqlnrlrryoftl*r4wxtlryt
IBL437 104,067
Cash oDd cth wulvalwts atthe axl ofthe ioportthy
268,197 181.437
l5

SpEN￿R DAYMAN MENIN6ms RESEARCH
P•)TESTOIHEACCOUNTS
FCrfiTHEYEARENDING 31 MARCH ¥J26
L AuourrttryPolkle5
The folknwln8 accounting pdkies Iwve been ￿ed mi51entty In thallrq items vknlth are
cons￿ered materkl In relatk)n toihe thariivsactourrt
l•) Basts of
The financial #aTrments have beert prepa¥ed in accordan￿ with Accounti￿ and RÉptsrting by
Charthe5'. Ststement of Recommended Practice applicable to tharftle5 preparin8 thelr accounts In
accordin￿ wlth the Flnanclal Rewrtlng Stsndard applcable In UX and Republic of Ireland IFRS
1021 leffettlve l January 20191- ICharllb¢s 50RP IFRS IOZII. Ana￿la1 RekK¥1(rq sta￿ard
4pplScable inthe UK and Republic of Ireland IFRS 1021 and the Charltles Act 2011.
Th¢ charltylsa wblk benrftenlSty. The fiTrandal statements hrn been wepaTed on a goln8"
concern basi& The tnjrteesconstderthatthe thartty h)Ids suffkbent reserves toachlv4e an orderfy
closure lTrth¢ unllkely event of a lO￿of fvrtdlng.
The flnèndal statements a￿ Pfesented in sterhn¥whlch ts thèknttknial ojrrentyofthècharlty and
rounded ttrthe nearest£.
ibl CoN•rn
The￿ contlnues to be a need for the charty. Wilh no pald Maff, the charws principal expendlture
commitment Is research grant f￿r￿Ing. At thE yE¥r end. the charlty held ￿$tr{rted and des18nated
fund5 tomeetthe ¢uvrentEommltted stage5 oflts research projects, wllh afurther£128,874 Tequlrod
to fund the second year of the DETECT prolert The tfustees are LY)nfident that thls shortfall will be
ralsed durlngthe 2026-2027ar£ountin6yeaT. ThecharrtYa￿0holdsÉ23.￿lfi unrestrfrted r¥èrvÈ5.
On th1$ basis, thetrustees arnsatbntd thattht dwlty Tema*ua 8oJty cortem.
Icl Fund A¢counth
Ilnre5tricted funds are Renpral bjnds that are avallable for use at the tru5tee5' dlscrntlon In
fvrther•nce Ofthe objertfves of the chartty.
De￿￿natedIunds aret1￿ putaslde to be ￿edfortheajmpletiOfi ofcurrent fewrch prohcts.
Restrltted funds are those donated for use In a partlcular area or ksr spth purpose4 the ust of
whlch Is restricred tothat area orpury*)5•.
Idl Incom•
Incomefrom donationsi 8rants and contracts is rtto8ni5ed where there is entltlemenL probabilityof
rèceipt and the amount can bè mèasured with suNldent relvab511ty.
lthv*stment irKoTh, tr*11￿ incomÈand other incfjmeait rerw15ed on a receIva￿e ba*.
16

SPEPICER L￿vAW4 MENINGMS AÉSÈARCH
NOIESTO THEACCOUPll5
lel Exwndtturn
Expenditu￿ ￿ reco8nised on 3n 2ccruaJs basb. ExpEndi￿r& Indude5 aryvalue Added Ttx whlth Is
reported as part of the expondituretowhith it relate&
Expendlture on Reneratln8funds mmprises cost$3$SL￿ètedWfth attraLttng Income.
EXPenéftU￿ on charhable arttrvitles cornprise5 those (osts incurred ￿ the thafity In the
d@IlvÈry of its researth. peer surwrt and awarene55 raisin& It irtdudes both costs that ca
be allocated direthy to eath of these and those costs ol an Indirect nature necessary to
5UPPOrtthem.
SupportC05tsarealbrated betweentheexpenditurecategor(esofEheStatèmentof Finandal
ACtIvrt￿ on a basK% de5tgned to reflect the useof the resouT¢e.
In Grnnts P￿bI*
Grants are awarded for research projects approved ￿the Sctentlfic Paneland the Soard. These
bettjme payable In attordance wlth researth ayeernents foreath prolecL PayrneThts are phased
across the project and are éependerrt on progress belngmadÈ. Expendlture b Induded In the
accounts as each payment bemme5due.
1¢) T￿￿tIon
The charity15exempt from tsx on Income and gai￿la111￿¥Wtth1ftse¢t[0n 505 of th¢Tax•sArt 1988
orsectlon 252 oFtheTay2tlon of ChargeableG•buArt 1992tothe extentthatthese are appl￿ to
Its charltable object5.
Ihl C•5h •t bank
Cash at bank and In hand comprkes balartes held In current acrountsand notlcedèposR attounts.
IIICredlto
cr￿ditOrS recognlsedwhere the chartty has •n obllBatlon thatwlll result Inthetran5ferof funds
tc a thlrd partyandthe amount due tosettletheoblls•tlon can be wswed orestlmated rellabty.
l D•btors
DÈbtOTS ère rewnlsed where there i$4n oblffjallonthatwlll rewltln thetransferof fvnd$tothe
charlty and the amotsnt owlw can be measured
Ik}S*nllkintJud8ements and Esllmates
There are no 51gnlfKarrtlud8ements or ertlmète5 requlred kn the pytwrntbn ofthese finandal
statements.
Z Incorne from Donatlon5
2026
Donatlofis
Glft Ald
Trusts & Grants
L4acies
Gfft5 In ￿nd
68,723
68,723 33,53S
2,197
89375 72.015
16*86
10,146
1,218
70I7S
16W6
i(E889
70A75
177.764 119,111
17

SpEN￿R DAYMAN MENIN6ms RE5EAKH
NOIE5TOThEACCOUNTS
FOR THE YEAR ENDING 31 MIACH 2026
3 ExpendEiure ontharttsble acthtii
VolunieeT Exper￿e5 }r￿TraVel
Research Grdnts & Equipment
Comms Ilncl PR & pri￿ed materiabl
WeblDlgltal
Postage & Ststionery
Supwrt Costs INote4al
Governan￿ INote4al
4.5￿ 3,988
69,417 30.233
1,449 1,480
922
730
1,803
862
1.036
368
1020 L650
69A17
1.449
922
I￿3
1.036
I,￿10
29
69A17
&).247 39.310
R#e•rth CommStm•nts
Projert
leld I
Held In
Fund$to bg
2026 •131 2026
60.24S
44,325
42,116
29.634
•131 Mar 2026
44.221
A￿al¢r
Gold
D£rÉcr
148,791
71,598
253.677
124,803
J28,874
Total
4A An•hnli ￿supPortIGa¥•￿C* eogts 2026
Support
Support ATrn•neM Totsl Fundrnthlr
Clwritsblt
7ot41
2026
Iycosts
Insurance
$32
231
782
219
35
IM36
347
74
12
433
1.129
293
47
L469
73
12
Ico
li
315
617
fjovernance
R¢¥•r¢h A*wrenes6 Totsl FundFald
Charltsb]e
Totsl
2026
Independent Exarnlr
rofe¥$5on41 Advk•
Tax Return
Bankcharges
12
12
12
36
1.020
36
1.020
18

SPENCER DAYK4N fvENINGfr￿ RESEAROI
FOR ThEYEAR ENDING 31 MAROI 2026
Sb knolyslsolsupwl &Go¥*TnaM¢e Cosis2025
Support Resthrch Sypport Awaren￿ Totsl
LfvrftablÈ
Total
ITcosts
Insurartc•
29
117
146
196
26
61
207
262
Ico
13
107
13
141
Tthl Futhlyln4
Totst
2025
Independent
Emaminer
Professlonal
Advice
Tax ReturTr
1.020
L020
120
120
320
270
270
550
550
550
1,650
6 Independent Examln•rfs Rem￿er￿￿On
2026
IndependEnf Examlnitson Ftts
1,020
There a￿ no staff employed bythe charlty. p&)trustees hwe teen pald an¥ reMUnera￿On
or received any beTher￿froM an employmertwithin the tharrty.
19

SPENCER DAYMAN MENINGMS RESEARUI
IIOTESTO THEACCOUNTS
FOR ThE YEAR ENDING YI MAROI 2026
8 Refatsd PartyTr3nsacUons
No donations made ty relaied p￿t￿512025. £01
Expenses were P3Klto our Printhpal Offiw. DrSte￿ tkyman MB&'
Travel & Subststen¢e
5.878
1,104
307
4.3SS
151
241
Fundrolsl
5uppK)rt Costs
Postage & 5tthonery
Comms
L406
63
120
9,617
6,256
No trustees had expen5e5 relm￿rSed.
9 Credltors-Amw)ts Falllng LknWSthln Oney
2026
2025
Ac£ru315 and othertredltors
1.254
1,254
L290
loa kn4W¥ofNetAssets b•twe¢n
Qwrertyear2026
2026
Cash
Cl￿1t0Ts le55than I year
194,238
IL2541
191984
73.959
268,197
11.2541
266,943
73.9
lQbAnalysh0lN￿ Assets between Funds
pr￿10￿$ Trr2025
1025
Cash
Creditors knthan l year
IrA,936
(l2￿1)
107.646
72501
181,437
11,?.901
180.147
72SYI

FOR ThE YEAR EIIDIN6 31 MARCH 2026
11 M¢womentson Fund5
Balance
31M*
2025
Curr•ntYe4r
Balan¢•
In¢ome Tr•nsf*$ 3IM)r2026
A•strf¢thd Funds
ftesea￿h
Totsi Restrktd Funds
72,501
70.B75
?0￿75
169,417)
169A171
73,959
Oe5iBnated Funds
146,ts0
169,024
Unrestrlcted Funds
84.752
P5.6311
146.130
23,960
Total Funth
266,941
Rtsearch Fund.. Funds recefved towardscuffent 5tlentlfi¢ restsrth proktt b•ln8 undertaken It
Spencer Dayrnan iaboratoriésat BFtstd un￿er5￿ty.
D85iznated Fund.. Funds requlred forthe cOmp￿th)n of Avlatyra￿ Gokl re*arth prole¢ts. and for
Ihe fir4 year of the DgfECf researth probecL
21