International Journal of Experimental Pathology (Company limited by guaraDtee) Report and Financial Statements for the year ended 31 December 2021 Charity No. 231407 Company No. 355858 ITrrrERNATIONAL JOURNAL OF ExPERImE￿[AL PATHOLOGY Report and Financial Statements for the year ended 31 December 2021 Contents Page Trustees, rcport Independent examiner's report Statement of f￿anCIal activities Balance sheet Notes to the financial statements 10 INTERNATIONAL JOURNAL OF EXPERIMENTAL PATHOLOGY Page I Trustees, r¢port (￿COrpOratIng the directors, report) for the year ended 31 December 2021 The TnJstee5, who are also directors of the charity for the PUTtM)ses of the Companies ACL present their annual report and accounts for the year ended 31 December 2021. The accounts comply with the Charities Act 2011, the Companies Act 2006. the Memorandum and Articles of Association and Accounting and Reporting b) Charities: Statement of Recollllnended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) updated Oclober 2018. Reference and AdministrAtive infornation Company Nutnb¢r 355858 (England and Wales) Registered Charity No. 231407 Directors and Members of the Council (Trustees) Professor l Lauder- President Professor M Alison- Vice President Professor G Murphy- Secretsry Profe&sor J Shaw Professor R Goldin Editor Professor D R Katz Registered Offic¢ 28 Phe&sants Way Ricknw)sworth Hertfordshire WD3 7ES Bankers CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Investment Managers Canaccord Genuity Wealth Management Slip House, Princes Drive Worcester WRI 2AB Ind¢p¢ndent Examiner Paul Harris Paul Harris & Co Limited 59 West End Redruth Cornwall TR15 2SQ TERNATIONAL JOURNAL OF EXPERJMEwfAL PATHOLOGY Page 2 Trustees, report (incorporating the directors, report) for the year ended 31 December 2021 (eontinued) Structure, Governance and Management Governing document The charity 15 constituted as a company limited by guarantee and is therefore governed by a Memorandum and Articl¢s of Association. The liability of members in the event of a winding up is limited to £1 O. Control of the company is vested in the Board of Trustees. Recruitment and appointment of Trustees The Trustees are also directors of the company for th¢ purwses of the Companies Act and are known as Members of the Council under the company's Articles of Association. Under the requirements of the Memorandum and Articles of Associatio￿ one fifth of the Members of the Council must retire at each Annual G¢n¢ral M¢¢ting. these being the members who have been in office the longesL The retiring members are eligible for re-election In accordance with the Articles of Associatio￿ Professor M Alison retires and offers hitnself for re- election. All Tnjstees have expertise in the field of experimental pathology and when Trustees retire, they are replaced by persons with similar expertise. The Board has the power to appoini additional Trustees as it considers fit to do so. All Trustees give of their time freely and no TnLStee received remuneration in the year. Trustees, reirnbursed travelling expenses are shown in Note 5 to the accounts. Objectives and activities The chaTity's object and its principal activity continues to be that of th¢ publicalion of the Journal. Our policy is to publish research into the cause. diagnosis and cure of disease in man, and any profits from such publication are used to promote research in this field. The Tn￿teeS confinn ihat th¢y have considered the Charity Commission's public benefit guidanc¢ when reviewing the aims and objectives. MB PhD Fellowship awards are made to research institutions to fin]d nominated students whose area of interest furthers the objects of the charity. Sponsorship of an annual lecture and prizes are provided to the British Society for Matrix Biology. The type of malerial that is published. including both prinwy research papers and reviews, is subject to peer review and is monitored by an Editorial Board. comwsed of an international group of experts in the field of experimental pathology, ￿,hICh meets three times each year. The Trustees meet as a Board of Directors to deterniine the general p)licy of th¢ Journal, which has remained unchanged. INTERNATIONAL JOURNAL OF EXPERIMETrfrAL PATHOL(￿ly Page 3 Trustee5' report (incoryorating the directors, report) for the year ended 31 December 2021 (eoDtinued) Achievements and p¢rfonnan¢e Journal aclivities during 2021 continued onwards from previous years. with the smooth and efficient support of the Editorial Offi¢¢ (Ms Biljana Nikoli¢), which is th¢ majoT Journal asseL As all are awar¢, the whole of 2021 w&$ overshath)wed by Covid-19. This has been reflected in many changes in both the publishing environmenL and in the increased work from home process. It a150 coincided with new problem questions akx)ut publication ethics. During 2021456 (2020: 360) manuscripts were handled of which 415 (2020: 315) were new submissions. This r¢pr¢sents an Incre￿ of 96 papers (2020: when there were already 131 more than 2019). Of these 456, 265 were from Chin4 28 from Brazil, 25 from Iran. 22 from India. 21 from Turkey. 18 from the UK. 17 from the USA and 9 from Egypt. I I papers from China and 2 papers from Brazil were accepted. There were two countries from which one paper was submilted and accepted giving l OOC/*o acceptance. 281 (2020: 176) manuscripts were handled to completion during 2021. Acceptance rate 70/0 for the year overall (mean for previou$ 4 years 19.50/0). During the first six months of the yeat the acceptance rdte w&s 120/0 (mean for previo￿ 4 years 24•/o). 28 papers ￿ere published. and th¢ total numErr of pages was 277. Mean submission to fjrst decision was 51 (45} days. to final decision was 48 (50) days and to acceptance was 171 (149) days" and median from receipt at Wiley to early view was 62 days. The Journal is gratefid for all the efforts made by referees during the year. 835 Teviewers were inviled (2020.. 1.443) and 269 (2020: 394) reviews were received. The tnedian time to receipt of reviews is 8 days. Again th¢ loyalty of the stalwarts among the Editorial Board members h&s been invaluable.. Profs Alison. Brandner, CouchmatL Goldin, Holecek, Howie (A), Howie (S), Ily&s, Marcinkiewicz, Pitsillides, Ryffel, Silver, and Ziats were the most frequent respondents during the The Joumal is accessible to 7,181 subscribers, 99% via the Wdey Licence. Also, during 2021 philanthropic initiatives extended IowwCOSt or free access to Cu￿ent content to 4,660 developing world institutions. The review article published dwing 2021 was: Modelling hypercholesterolaemia in rats using high cholesterol diet Luiza Ferracini Cw)h4 Mariana Aubin Ongardtto, Marcelo Endres and Alethea Gatto Barschak. 102, 74-9, 2021 Download access to articles during 2021 was >450.(XX). Of these 24Q/o were from China, 170/0 were from the USA and 60/0 from the UK. 31 % dowdoads were classified as "other" in origin. The total download access numbers reflect not only Wiley Online Library but also other sources such as Pub- The most frequent Wiley Online Library downloads during 2021 wer¢: Masson-meyers D et a] Experimental models and methods for cutaneous wound healing &ssessment. l 01.21-37 2020 Matsumoto M et al An improved MO￿ model that rapidly develops fibrosis in non-alcoholic INTERNATIONAL JOURNAL OF EXPERIMENTAL PATHOLOGY Page 4 Trustees, report (ineorporAting th¢ directors, report) for the year ended 31 December 2021 (CODtinued) A¢hiev¢m¢nts and perfonllanee (continued) 5teatohepatitis 94.. 93-103 2013 Howie A Origins of a pervasive, erroneous idea: The-green birefringence- of Congo red-stsined amyloid 100- 208-212019 Yamada K et al Extracellular matrix dynamics in cell migration, invasion and tissue morphogenesis 100: 144-52 2019 Alison M The cellular origins of cancer with particular reference to the gastrointestinal tract 101..132-1512020 Izbicki G et ￿ fime course of bleomy¢in-induced lung fibrosis 83: 11-9 21X)2 Anstee Q and Goldin R Mouse models in non-alcoholic faty liver disease and steatohepatitis research 87: 1-16 2006 H¢indryckx F et al Experimental mouse models for hepatocellular carcinoma rescarch 90: 367-86 Lawrenc¢ T and Gilroy D Chronic inflammation. a failure of resolution? 88.. 85-94 2(K)7 Santamaria S ADAMTS-5: A difficult twer turning 20 lo1.￿20 2020 Of these articles nine out of ten were reNiews. The most frequent Wiley Online Library citations in the current impact factor calculation F¢Tiod were to the following papers: Masson-meyers D et al Experimentsl mod¢ls and m¢thods for cutaneous wound healing assessment. 101.21-37 2020 Yarnada K et al Extracellular matrix dynamics in cell Migratio￿ invasion and tissue morphogenesis 100: 144-52 2019 Santamaria S ADAMTS-5.' A difficult teenager turning 20 101.4-20 2020 Kalantari E et al Co-¢xpie55ion of TLR-9 and MMP13 us associated with the degree of tupur differentiation in prostaie cancer 100: 123-32 2019 Karpov AA et al Non-inferiority of microencapsulated mesenchymal stem cells to free cells in cardiac repair after myocardial infarction." a rationale for using parncrine factor(s) instead of cells 100.. 102-13 2019 Erisgin Z ¢t al The effect of intrnvitreal H2S appliGqtion on awptosis in the retina and comea in an ¢xperimental glaucoma model 100: 330-6 2019 Gao GB et al Resveratrol attenuates cerebral ischaemia reperfi￿]on injury via modulating n]ilochondrial dynamics homeostasis and activating AMPK-Mfni p￿bWaY l 00.. 337-49 2019 Zhang HT et al Carboxypepiidase A4 promotes proliferation and stem Cells characleristics of hepaioc¢llular carcinoma l 00: l33-8 2019 Wang X et al Long non-coding RNA GAS5 overexpression inhibits M2-like FK)larization of tumour- &8sociated macrophages in SMCC-7721 cells by promoting PTEN expression l 01: 215-22 2020 Li Y Identification of functional long non-coding RNAS in gastric canceT by bioinforniatics analysis 101: 96-105 2020 Of these articles the first three were review articles and the remainder original articles. Altimetric scores (which reflect wider media access) were also recorded. and the following were the five most frequently referenced: INTERNATIONAL JOURNAL OF EXPERIMENTAL PATHOLOGY Page 5 Trnstees, report (incorporating the dire¢tors' report) for the year ended 31 December 2021 (eontinued) Achiev¢m¢Dts and perforniance (continued) Endothelial nitric oxide in humans in health and dise&se- 68 (80: 291-303 1999) Origins of a perv&sive, ¢rroneous idea: The "green birefringence" of Congo Red stained amyloid- 29 (100- 208-212019) Systemic and local effects of long-tern] exposure to alkaline drinking water in rats- 14 (82: 213-9 2001) Cigarette smoking, endothelial injury and cardi0v￿lllar disease - 12 (81: 219-30 2(KIO) Viral escape mechanisms - escapology taughi by viruses - 11 (82: 269-86 2001) The two-year Impact Factor announced in 2021 was 1.925 Links with the British Socie for Matrix Biolo (BSMB) continued to be excellenL led by Profs Couchman and Midwood. This is reflecled in the revi¢ws. downloads and citations noted above. Abstracts of the 2021 BSMB Spring mttting- "Infiammaliory Fibrosis, Resolution and the Matrix" - organized by Professor Stephanie Dakin (University of Oxford). which celebrdted the BSMB'S 40th anniversary, were published in the Journal (102: AI-17, 2021). Th¢ prize for the best talk was awarded to Rafaella Konstantinou (from the Wellcome Trust Centre for Cell-matrix Research, University of Manchester, and the Institute of Molecular and Cell Biology (IMCB), Agency for Science. Technology and Research (A*STAR). Singapore) on the topic of "The interplay of tensin 3 with mechanosensors talin and vinculin regulates fibronectin remodelling-. The best poster prize was awarded to Samantha Arokiasamy and Amro Hussein (ETH Zurich) which discussed molecular rnechanisms underlying tendon involvement in systemic sclerosis (Ssc). MBPhD IAchmann Fellowships: two awards continued: Cambridge: Alex Fleet who is working on a prnject entitled "Changes in the Oligodendrocyte Progenitor Cell Nuclear Lamina during Ageing" supervised by Dr Robin Frankli UCL: Deborah Oluwadamilola Alawode who is working on a project entitled -Developing Novel Super Sensitive Fluid Biomarker Assays in Neurodegenerdtive Diseases" supervised by Piof Henrik Zetterberg (primary) and Dr Ama￿ Heslegrnv¢ (subsidiary). Financial review The statement of fmancial activities on page 8 shows the fmancial results of the y￿eS ￿tIvIties. The balance sheet on page 9 shows the position at the year end. Net revenue from the Journal decreased by 180/0, due to an overall deCr￿e in subscription revenue and additional costs relating to 2020 charged this year. Investment income recovered and was close to pre pandemic levels. The charity continued its support for the Fellowship awards to University of Can]bridge and University College London, th¢ annual Fell Muir lecture and British Society of Matrix Biology prizes. This y¢ar, funding was also provided for three students from the Rani Rawii Foundation. The investment portfolio wfonned in line with expectations, with net unrealised gains of £129.806 over the year. Overall, the In￿leeS consider that the cl)arity is in a strong wsition to continue its work. INTERNATIONAL JOURNAL OF EXPERIMENTAL PATHOLOGY Page 6 Trustees, report {incorporating the directors, report) for the year ended 31 December 2I121 (continued) InvestmeDt policy Under the Memorandum and Articles of Association. the charity has the p)wer to make any investment which the Trnstees see fli. The Trustees. policy for investing funds is to generate both income and capital growth and the Énvesthient FK>rtfolio is regularly reviewed for this purpose. Ethical i￿U¢$ are given due consideration when investment decisions are made. Funds not required for immediale use are inv&sted in higher interest paying accounts. The Trustees consider the return on investments in the year to be satisf&tory. Reserves poliey Reserves are maintained at levels which are necessary to support the continuation of the publication of the Joun￿[ and the Fellowships awarded. The balance on general unrestricted reserves at the year end was £1,082.148. Stgtement of irustees, responsibilities The Trustees are required by law lo prepare f￿anCIal statements for each financial year which give a true and fair view of the fmancial activities of the charity and of its financial position at the end of that year. In preparing those financial staiements, the trustees are required to: select suitable accounting policies and apply them consistently. make judgements and estimates that are re&sonable and prudent. state whether the policies adopted are in accordance with the Companies Act 2(M)6 and with applicable accounting standards and staternents of recommended prdciice, subject to any material departures disclosed and explained in the fmancial statements. and prepare the financial statements on a going ¢on¢ern basig unless it is inappropriate to assume that the Charity will continue in operation. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the chariry and enable them to ensure that the financial sratements comply with the Companies Act 2(kn. They are also responsible for safeguarding the assets of the chariiy and hence for tsking reasonable s*ps for the Preveniion and detection of fraud and other irregularities. Small company provisions This report has been pryared in accordance with the provisions in Part 15 of the Companies Act 2(X)6 applicable to companies subject to the small companies regime. This report was approved by the Board of Directors and Twstees on 5 May 2022 and signed on its behalf by: Professor Ian Lallder Director and T￿￿tee INTERNATIONAL JOURNAL OF EXPERIMENTAL PATHOLOGY Page 7 Independent examiner's report lo the Trustees of International J(￿rnal of Experimental Pathology I report lu the charity tTUStees un my examination of ik accounLS of the charitsble ¢ompany for the year ended 31 Decemkr 2021 which are set oui on paoes 8 10 13. R¢sponsibilitie5 and basis of re￿1 As the charity's trustees ot the company land dlsu ils Jircctors for the purwses of company law) you ar¢ sponsible for ihe preparation of the accounts in a¢¢olllan¢e with the requirements of the Companies Act 2(m￿ ('the Act'l. Havine been sausfied ihai ihe kecounts of the company are no( r¢quir¢d io be avdiied under Part 16 of the 2006 Aci and are ¢ligible for independent examination. I re￿rt in respea of my examination of your charity'8 accounts as carried out under section 145 of the Charities Aci 2011 ('the ?￿1 l Act,). In carrying out my exdmination I hav¢ followcd the Directions given by th¢ Char]"ly Cotnmi&sion under section 145 (5) (b) of th¢ 2011 Act. Independent examiner's statement I have conipleied my examinalion. I confirm ihat no mattels have come io my attention in connection with Ihe exatntaation giving me Lause to believe: { I l accountino record8 wer¢ T]Qt kept in resp￿Cl of the company &$ requir￿ by scction 386 of the 2ffl6 (21 th¢ accounts do not accord with those Tecords. or (31 the accounts do not Comply with the accounting requirements of section 396 of thc 2(X)6 Acl other Ihan any re4uirewn¢nt thai ihe account.s ghve a true and lair, view which 1.8 nol a nutter considered &8 part of an indcpcndent examination- or (41 the accouots have no( b¢en prepated in accordaDce with the methods and principles of the Stsiemenl of Recommended Prxttice for accounting and reportlng by charities applicabl¢ to ¢harilies preparing Ih¢ir a¢¢ounis in iiccordance with the Financial Rep)rting Standard applicable in the UK and R¢public ot" Ircland IFRS Iir21. I hllve no ¢oncern8 and have come acro&s no ￿her mallers in conncclion wilh ihe examination io which attention should be drawn in this report in order lo ¢nable a proper utMJer5tanding of the accounts io be r¢aLhcd. Paul Harris Paul Harris Limited Chartered Certitied Accounlanls 59 West End Redruth Cornwdll 5 May 2022 INTERNATIONAL JOURNAL OF EXPERIMENTAL PATHOLOGY Page 8 Statement of financial aetivities for the year ended 31 December 2021 Income and expenditure account Notes 2021 2020 Ineome from: Charitable activitics 33,624 41,054 Investments 35.713 29.101 Total income 69,337 70,155 Expenditure on: Charitsble activilies: R¢s¢arch fellowship grants and pri7£S Governance Costs 4,700 172,858 11,507 11,450 Total expenditure 16,207 184,308 Net inc0mel(expenditu￿} before investment gain 53,130 (114.153) Net gain on investments io 134,958 39,807 Net movement in funds 188.088 (74.346) Reconciliation of funds: Totsl funds brought forward 1,271,578 1,345,924 Total funds carried forward 1,459,666 1271,578 The notes on pages 10 to 13 forni part of these financial statements. IwrERNATIONAL JOURNAL OF EXPERtMENTAL PATHoL￿y Page 9 Balan￿ sheet as at 31 December 2021 No*s 2021 2020 Fixed assets Investments 1.221.687 1.060.677 Cu￿ent assets Debtors Investments Cash ￿ bank 49.282 80.( 258,474 85,450 180.IKK) 238,627 387.756 504.077 Creditors: amounts falling due wtthin one year 92.933 179.988 N¢t current assets 294.823 324.089 Total &ssets less current liabililies Creditors." amounts failing due after one year 1.516.510 1,384,766 56.844 Il3.188 Net assets 1.459.666 I,271,578 Funds of th¢ charity Unrestricted funds General funds Fair value reserve 1.082,148 377.518 940,408 331.170 Total funds io 1.459.666 1.271.578 The company was eniided to exemption from audit under section 477 of the Companies Act 2006 relating to s￿￿11 companies. The members have noi required the company to obtain an audit of its accounts in a￿ordanCe with section 476 of the Companies Aci 21Kkn. The direciors acknowledge their responsibilities for complying with the requirements of the Companies Act with respecl to accounting records and the preparation of accounts. These accounts have been wepared in accordance with the provisions applicable ￿ small companies subject to the small companies regime and Èn accordance with FRS 102 SORP. Approved by the Board of Directors and Truslees on 5 May 2022 and signed on its behalf. Professor lan Lauder Director and Trustee The notes on pages 10 to 13 forn] part of these financial statements. I.N'I'ERN.4TIONAL JOL',RNAL OF EXPERINIEN'f.4L P.4THOLOGY Page 10 Notes to the accounts for Ihe year ended 31 DK¥mber 2021 Accounting polici Basi8 of atcoullting 'rhL acLounis havc b¢cn pr¢par¢d under the historical cosi coni'ention, M'iih ilcms rly0g￿ls¢d at cost or transaction value. unless other¥ii5e stated in the Tlotes to these aecfiunt8. Th¢ dvcoullis have been prepared in accordance. ￿11￿ the. Statemenl ofRecommended Practice: Accountiiig and Reporting by C.harities" prepartng their accounts in aocordanc¢ 14'iih the F.ini￿LIa1 Reporting Standard applicable.in the Uk and Republic ot'lreland (FRS 102)- (Qb￿l[lUs SORP F'RS 10?) updated Octob¢r 2018: the Finan¢Éal Rcportiiig Standard applicable in the ITK and Republtc of Ireland (FRS IO•). the Charilie5.4ct 901 l a]Id the Comp￿1¥S.4LI ?006. The Compl￿¥ meets the definition (Jf a public benefit eniitv under FR8 10? In¢om¢ Recognition of income: These arL" included in the slalLmcnt ol" financial activities (SOF.4} ￿'hen ihe charil! becomLS entitled to the resource& it ts more likely than not that the TrLEslees will receive the Tesources d the mon¢ldry ￿alu¢ L