Lymphoma Research Trust Registered as The Ccpoperative Clinical Cancer Therapy Trust Fund Charrty Registration No. 263424 Report and Accounts For the year ended 31 March 2022
Conlonts 1. Legal and administrative informath 2. Structure, governan and management 3. Objecttves and activities 4. Achievements and perf0mnCe 5. Financial review 6. Plans for fvIU periJs 7. Statement of Twstees. reSpsibIlieS 8. Independent examiner's report 9. Slalement of financial aCtivitS 10. Balance sheet 11. Notes io the financial statements
Lymphoma Research Trust {Registered as The Co-operative Clinical Cancer Therapy Trust Fund) l. Legal and administrative information Name of the charity The full name of the Lymphoma Research Trtjsl is The ClperatiVe Clinical Cancer Therapy Tnlst Fund. The Lymphoma Research Tnjst is registered with the Charity Ccrfnmissioners of England and Wales and its registration number is 263424. Trusts8S The Iruslees who held office duriTVJ the year wwe: Prof. Steve Schey (Chairman Ms. IAargargt Littlgjohns Dr. Cathgrine Anderson (Resigned 23td November 20211 Prof. Steve Devereux Mr. Paul Smith Or. Christopher McNamara IAppKJinted 17kn May 20221 Dr. Graham Collins (Appointed I7 May 2022) Principal offi¢0 The principal office of Ihe charity is 5th FI East. 250 Euston Road. Lcffldon NW1 2PG. Advisors Bankers Coutts & Co 440 The Strand London WC2R OQS Investment managers CCLA Fund Managers Ltd Senator House 85 Queen tla Street London EC4V 4ET Independent examiner Geoffrey Frosl Bsc (Honsl FCA Blue Spire Limiled Cawley Priory South Pallanl ChichÈst8r West Suss8x PO19 1 SY 2. Structurn, gov•rnaneè and management Struciurn of the charity The Lymphoma Research Trust was Set up as Tho cratIVe Clini1 Cancer Therapy Tnjst Fund by Dged of Trust dated 2 Decgmbgr 1971. In 1990 the trustees received pemiission from the Charity Commission lo adopl the informal name of the Lymphoma Research Trust which conveys Ihe main interesl of the charity more accurately than its original and oificial name.
Lymphoma Research Trust (Registered as The Cowoperative Cllnlcal Cancer Therapy Trust Fund) Recruitmen( appolntment and training of Irustses Under thg terms of its Deed of Trust. the Lymphoma Re5ear¢h Trust must have at least five trustees. New trustees are appointed by the continuing ITUStees at their meelings. whKh are held at least lce a year. A majority of the continuing trustees is sufficyent to elect a new truslee. TTUSle8s are kept up to dale regulady with changes Telating to Charity IL$latIon. Confererw organized by legal, financial and investmgnt professionals are availablo for trustees to attend. The tru51ees dèlegate the day- to-day operation of th& charity to the administratoK. Risk manag•mont policy The tnAsl&es maintain a risk register and actively review risks which the charity faces on an annual basis. 3. Objectives and a¢tlvltles Th$ princFpal objecbve of the Lymphoma Research Trust is to provKl& funding for the stLHJy an(1 relief of those suffering from Hodgkin disease, tumours of the lymph glands, leukaemia and sirrkilar or related diseases. In formulating and applyiThJ these l'ects. Ihe trustees have regard for the guidanGe of thè Charily Commission on Public Benefit. Tho Lymphoma Research Trust do8s this by rnaking grants to research proJramme5. In particular. it has supwrted the work of the Haematoljgy Trials Group. part of the Cancer Trials Centre at University College London, for many years. The Haefflalology Trials Group is a leading resear¢h centfe which ctsordinates clinical trials into all tyP8s of lymphoma - H(xlgkin disease and non-Hodgkin tymphoma. Grnntamaklng policy The trustee5 Wglcome grant apiCatIonS from centres of excellence for tymphoma research in the UK. Grant applications are reviewed again51 thè objects of the charity afid Whe rekvant or necessary, the tru$tg8s will afrange for peer review of applicatis. 4. Achievements and rfornIance The Lymphoma Research Trust ¢ontinues to support the Haematok)gy Trials Group al Universty College London. In August 2021, £502,956 was grante(I to provKle funding for the group for Ihree ygars from January 2022 to December 2024. This was lo fund a lum(KJr group lead120%1. a data manager1100%1, a senior trials CO-ordinalor1100%1 and a database deVelOr(so%) whith facilitste the rna1ntenan of Ihe trials databases and trials where a long-lerm as5e5sment of treatmenl eff. and treatment rèlated toxictty 15 required. This gnables them to improve patient care with the development and optimisation of therapy re5ultin9 in a reduclion in morbidily and mortality. The charity also continued to provide funding for a Lyrnphoma Clinical Trials Fellow. In August 2021, £67.915 was granted for the iwo years from February 2022 lo January 2024. The Haematok)gy Trbals Gr(KJP is an aclive research tIVe gmup 4 tymphoma trials open to recruitment and 7 at the sel-up stage or grant application slage or where patients are being followed up for outcomes to treatment. In addition to this. ihe group manages a further 9 Irials where resu115 are being written up or presented al conferences. Further information on trsals can found on the CR UK and UCL Cancer Trials Centre website at htt ."Ilwww.clc.ud.ac.uk. Thè continued support from the Lymphoma Researth Trust has been frjndamenlal in shaping the Haemalology Trials Group and has helped the group SLCeed in running praclice-changing trials. During the year. the tnjstees awarded £30.762 lo Dr. OffoT of the Wollson ch1k1h)d Cancer Research Centr8 for his project on investsg*ing Epstein Barr Virus immunity in children al high risk of post-transplant lymphoproliferalive diseases. They also awarded £12.697 lo Dr.Kim Linton of The Christie NHS Foundation Trust for her projed on CSF microRNA5 a5 FK)tential diagnoslic and prognoslK markers in Primary Central Nervous System Lymphoma.
Lymphoma Research Trust (Registered as The cOperative Clinical Cancer Therapy Trust Fund) 5. Financial review Durirtg 2021-22, the Lymphoma Research Trust Tec*ived many donations from patients, their relatives and friends. Donations amounted to £96.44212021.. £75.380I- Wrtholrt these donation5. Ihe Lymphoma Research Trust's ability to lund essgntial Core research woukl be sevety curtailed an¢J the trustees are very grateful for the support of dorsors and fundraisers. The charity received legacies totaling £3,671 during the year12021.. £90.CIXII. Investment Ir)me was £42.63712021: £43.4011. This brought income from all sources in the year to a total 01 £142,750 {2021.' £208,781). Expenditure on generating lunds vrds £15.YJ8 {2021.. £22,083). A grant for the core support for 3 years was approved lo the Haematology Trials Group. a5 well as other grants. as dIuSSed above. Experlture on charitable activities was £558,68012021: £2.1501. Totsl expenditure for 2021-22. induding the Core Support Grant, came to £574.27812021-. £24,233). R8s•rv8s pollcy The trustees. policy is to ensure that total assets cover at least three years. estimated costs forthe management of trials. the cost of one Lymphoma Clinul Fellowship over a thryear periol, and the full outstanding costs of 5pecrfic projects lo which the Iw5tees are committed. The levgl of funds at 31 March 2022 after dlting grant Commrtments already made was £1,045,958 compad with £1,344,236 at 31 March 2021. Investment policy The Irustses h8vg widg powers of investment conferred on them by the Deed of Trust. The Lymphoma Research Trust is invesled in the CCLA COIF Charibes Investment Fund. Th8 trustees re¢eivg regular reports on Ihe perf0mnCe of Iheir investments and the investment managers meet the trustees once a year. Given the long-temi nature of the wovk undertaken. the trustees have set an investment strategy for funds. beyond their iwnmediale day to day requirements. which seeks lo balan rrent irKome with longerterm capital appreciation in order to seek to preserve the real value of Iheir funds. The trustees monitor the cash Ilow of the charity dosely. 6. Plans for future periods Th6 Lymphoma Research Trustwill continue to make grants to StApw)rt research into causes and Ireatmenls of lymphoma. 7. Statement of Trustees. responsibilities The Iruslees are responsible for preparing Ihe Tnjstees. Annual Report and the finanaal statements in a¢¢ordan¢g with applicable law and United lfj"ngd¢yn A¢counb"ThJ Stsndards (United Kingdoffl Generally A¢¢epted k¢ounting Practice). Thg law applicable to charities in England & Wales rgquir8s th8 trustees to prepare financial statgm&nts for each financial year which give a true and fair view of the slate of affairs of Ihe charity and of the incoming resources and application of resources ofthe charity for that period. In preparing these financial stalements. the trustees are required lo.. select suitab ac(x)unling arwj then apply them ujnsistentty: observe the methods arKI prirKiples in the Charitw SORP; make judgemerts and eslimale5 that are reasonable and prudent.,
Lymphoma Research Trust (Registered as The Coryoperatlve Clinical Cancer Therapy Trust Fund) state whether applicable accounting stan¢Jards have been lollowed. sutry'ect lo any material departures di10$ and explained in the finawal statemenls: prepare the financial statements on the going cJ)rKem basis unless it is inappropriate to pSum@ that the charity will ¢ontinue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy al any lime the financial position of the charity and enable Ihem to ensure that the financial statements ¢omply with the charib.es Act 2011. the Charity IA¢¢ounls and ReFM)rtsl Regulations 2008 and the provisions ol th6 trust deed. They are also re nsible for safeguarding the assets ofthe charity and hence for taking reasonable steps for the pfevent. deledion of fraud and olher irregularities. Trustees on i loii and sNJned its behaw by.. Approved by Piof S. Sche Chairman
Lymphoma Research Trust (Registered as The Co-operative Clinical Cancer Therapy Trust Fund) 8. Independent Examinerfs Report to the Trustees of Lymphoma Re5ear¢h Trust l report to the charity Iru51ee5 on my eXaminab. of the a¢u)unts of the charity for Ihe year ended 31 March 2022. Re$ponsibllltles and basis of rnport As the charity's trustees you are responsible for the preparation of the acUnts in accordance with the requirgments ol Ihe Charities Act 2011 I'the ACY). I report in respect of my examination of the Charity's a¢¢ounts Cald out under section 145 of Ihe Act and in carrying out my examinalion I have followed all the apIcAble Direcbons given by Ihe Charity Commission under section 14515llbl of the Act. Independont examlnèrfs stat8menl I have completed my examination. l u)nfirm that material matters have come to my attention in conne¢tion with the exarnination giving me cause to Wieve that in any material rgsKWt: acu)unting records w8r8 not kept in respect of Ihe charity as required ty section 130 of the Act.. or the accounts do nol accord with those records; or thè accounts do nol comply with Ihe applicable requwements o)ncerning the form and content of accounts set out in the Charities (Accounts arid ReFK)rtsl RegulalKJns 2(X)8 other than any requirement that thè accounts give a Yrue and fair view. whi¢h 1$ nota mattw ¢onsKJered as part ol an independent examinatson. I have no concerns and havecome across no other matters in connection with the examination to which attention should be drawn in this report in order to enabk a prOr understanding of the accounts to be reached. 10 November 2022 Geoffrey Frost BSclHonsl FCA Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex P019 1SY Dale
Lymphoma Research Trust 2021-22 9. Statement of Financial Activities for the year ended 31 March 2022 Unrestricted Funds Notes 2022 2021 Income and endowments from: Donations Legacies Investments Total 96,442 3.671 42.637 142.750 75.380 90.000 43,401 208,781 Expenditure: Raising funds - investment management costs Raising funds - fundraising costs Charitable aciivities Total 9,140 6.458 558,680 574.278 8.674 13,409 2,150 24,233 Net gainsl(losses) on investments 133,250 262.542 Not incomel{expenditure) (298,278) 447.090 Fund balances brought forward at 31 March 2021 1.344,236 897,146 Fund balances carried forward at 31 March 2022 1045 958 1344 236
Lymphoma Research Trust 2021-22 10. Balance sheet as at 31 March 2022 Unrestrlcled Funds 2022 2021 Fixgd a$s¢ts Invèstments 1.$06,$03 1.482,393 Current assèts Debttsrs.. prepayments and irtc4ne Cash at bank and in harKI Total eurr•nt ass•ts 92,585 170.131 262,716 99,214 132.169 231,383 Currènt liabllitl•s Accruals {8001 {29,5361 1343,8131 1374.1491 {7001 {39,S751 1240,9871 1281,2621 Other creditors Grants payable Totsl eurr•nt Ilabllltl•s Nèt eurr•nt ass•ts 1111.4331 149,8791 Totsl as1$ $$ curr•nt Ilabllttl•s 1.395.070 1.432,514 Crediiors.. amounls falliThJ due after one year 1349,1121 {88,2781 Net asset 1.045.958 1.344236 Accumulated funds Brought forward at 31 March 2021 Surpluslldeficill for the year 1.344.236 1298.2781 897.146 447,090 Total funds 1,04S,958 1,344,236 The notgs numbér 1 to 7 fo pa of these tnts. Approve(I by the Bo8ril and sw)ned on its half by." Chaimia
Lymphoma Research Trust 2021-22 11. Notes to the Financial Statements A¢¢ountlng policies 1.1 A¢counting convention The Lymphoma Research Tmst is an unirwrporated charity regislered in England governed by a constitulion. The address of the principal Offi is 5th Floor East. 250 Euston Road. London, NWI 2PG and the tharitls operab.ons and prinopal acbvities are sel out in the trustees. report. The charity con51itules a KAJblic benefit entrty as defined by FRS 102. The financial ststements have been prepared in accordan with Accounting 8nd Re[K)n9 by Charities.. Statement of Recommended Practice aP1¢able to tharities preparing their accounts in accordan with the Financial Reporting Slandard appIlble in the UK and Republic of Ireland issued in October 2019, the Fin8n¢ial Reporting Slandar(l appIlble in the United Kingdom and RewJbli¢ of Ireland IFRS 1021, the Charities Act 2011 and UK Generally A(pIed Practi. The financial slalements are wepared on a wing COnM basis under the historical cost convention. modified lo indude certain item5 al fair value. The financial statements are presented in sterling which is the fun¢thonal currency of the charity 8nd rounded to the nearesl £. 1.2 statement of ¢ash flows The charity does not indude a wh flow statement M the grounds that it is applying FRS 102 Section 1A. 1.3 Incomo r8cognition All incoming resou$ are induded in the ststenI of Finanaal Activities {SoFAI when the charity is legally entiued lo the income after any perf0mlan conditions have been met, the amount can be measured reliably and it is wobable that the income will be received. Investment income is earned through hol¢Jing assets for investment purposes such as shares. It includes dividends and Trnterest. Where it is not practi¢8ble lo identify investment management costs tncurred within a scheme with reasonable accuracy the investment income is reported net of these Costs. It is included when Ihe amount can be measured reli8bly. Interesl income is recognised using the effective interest method and dividend and rent income is recognised as the charity's right to re1ve payTnenl is established. 1.4 Rocognition of expendlturo l expendrture is accounted for on an ac(xuals basis and has been das5ifie(l under headings that aggregate all costs related lo the category. Expendilure is recognised where there is 8 legal or construclive obligation to make payments to third parbes. il is probable thal Ihe settlement will be reqUId and the amount of the obligabon can be measured reliably. It is categorised under expenditure on tharilable activities and indudes upkeep of Ihe charivs propeities and the cosl of administering the activity of the charity. Support cosls are those that assist the work of the charity but do not diwlly represent charitable activities and indude office costs. and g0Veman cosls. They are incurred diredy in support of expenditure on the objects of the charity and on raising funds for the charity. Support costs are allocated to expenditure on tharilable ach"vibes and raising funds on a basis consistent with the use of those funds.
Lymphoma Research Trust 2021-22 11. Notes to the Flnanclal SLeMents Accounting policies 1.5 Cash & cash eqvivalonts Cash & cash equivalents indudes cash at bank and in hand and cash held within the investment portfdio. 1.6 VAT The charity is not registered for VAT 8nd is unable to recover VAT Iru1r&I. On this basis costs are recorded inclusive of VAT within the SOF 1.7 Ftx8d asset inveslments Investments are recognised inilially at farr value which is nom)ally the transa¢tson price excluding transaction costs. Subsequenuy. they a measud 8t fair value with Changes recognised in 'nel gains I Ilossesl on inveslmenls. in the SOFA where investrnents are publidy traded or their fair value can otherwise be measured rlay. 1.8 Debtors receivable and Creditors payable within one year Debtors and ¢xe(litors with no stste(l Énlerest rale and r1vab CY payable within one year are recorded at transackn.on price. Any105se5 arising from impairment are recognised in expenditure. 1.9 Taxation The charity is consmlered to pass the tests set oul in secaions 521 to 536 Income Tax Acl 2007 IITA 20071. as such no income tax is payable Ihe charitys activibes. 1.10 Going concgrn The financial statements have been prepared on a going ¢x)ncem baws as the trustees believe that no m81erial uncertainties exist. The trustees have nSIdered Ihe level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expendilure is sufficient with Ihe level of reserves ft)r the charity to be able to ntinue as a going ¢on(wn.
Lymphoma Research Trust 2021-22 11. Notes to the Flnancial SLitements {¢ontlnu•d) knalysi$ of charItae oxp8ndilw 2021-22 202041 Grants to Instiluti(xi$'. LyThphorna dini(l lria8 le Core SUprt (Ccer Research UIWCL Tri Centrel Dr. Ugo or[. UnN. NOaSe K Linton- ChriS"e NHS FourKlolKm Tntst SukV)rt wsts IrK)le 31 Grant te back5 67.915 30.762 12.697 2.281 157.9311 2,150 2.150 Allocatlon of support ¢¢)sts Totsl support RalThj Exper¥Jiivie ty.. sialf (xJsts rin spent on xlilieS Independ8nt eXarnInatN fees PrormytI to stalf costs Other 5.000 541 219 2.158 5.637 2,281 7,918 Flx¢d asset Inv051rnents 2021 Movomoni$ in lhe Market valu8 at 1 2021 Add" Acquisilions at cost L855.' Disp05als atrarrwThJ value Unreaised Ik)ssesygairts Market value a131 Marth 2022 1.482,393 1A95,79S 11.482,3931 10.708 1.S06.503 1.228.525 253,868 1,482,393 Hori¢ (XX8t 1.495.795 1.250.000 Investm8nts cLYiw: CCLA Mar30d fund5 1.506.$03 1.482.393 2021 Invtslment Incorno thvidend inc(m Bank d8F#)sil inlwest 42.584 53 42,637 43.133 43.401 IAdep8ndent examinerf$ r¢munerallon (kn18rnance c0515 indude an arrK4ml 01 £660 pJyJJe to the iThend8nl examiner la)21: £8(X>l for an Tru$taes' remuneTrlion and r¢lated party transaction5 The trustees receiv1 r&7Mxration thJrirvJ the yw12021: EOI. Tr1 eXFW5 01 £21 reift*KJrsed to IrLtee$l202].. £01.
Lymphoma Research Trust 2021-22 11. Notes to Ihe Flnanclal Statements (continued) Financial instrum•nts The amounts of Ihe charitys financial instrurnents are as lob1¢).. 2022 2021 Financial a&ts Measured at fair value thrrwh n8t inc0Nl{expendthJ)'. Fixed asset inveslrnents 1.506.503 1,482,393 The irme, expense. net gains and ret kjsses atlributatAe to the charitys financial instruments are sumrnarisgd as foliiy•ts.' 2022 2021 Income and expense Financial assets measured at lair value Ihrough rel incrThllexpendrturel Investment income Investment man8g8rnent fees 42,584 19,1401 33,444 43.133 18.6741 34,459 2022 2021 Net gains al Ioss85 lindudiThJ changes In fair Yaluel Financial assets rrea$ured at fair value thrwjh nel iwThl{expenditurel Nel gainslllossesl inves1mS 133,250 262,542 Fixed asset investments a held at fair v8lue with valuab.ons obtained by reference to market pri$ Irorn the appropriate stck exChare. bid Pri and last trad1 prices where applicable.