Lymphoma Research Trust Registered as The Cl￿peratiVe Clinical Cancer Therapy Trust Fund Charity Registratbon No. 263424 Report and Accounts For the year ended 31 March 2024 Contents 1. Legal and administrative information 2. Structure. govemance and management 3. Objectives and activities 4. Achievements and perfornance 5. Financial review 6. Plans for future peri¢xIs 7. Statement of Trustees. responsibilities 8. Independent examinerfs report 9. Statement of financial activities 10. Balance sheet 11. Notes to the financial statements Lymphoma Research Trust (Registered as The Co•operative Clinical Cancer Therapy Trust Fund 1. L•gal and admlnlstrntlvo Inforniatlon Name of th• charlty The full name of the Lymphoma Researth Trust is The Cctroperatsve Clin￿al Cancer Therapy Trust Fund. The Lymphoma Research Trust is registefed wth the Charty CommiSwone￿ of ErvJland and Wales and ils registration number is 263424. Tru$t••s The trustees who hekl office during the year were-. Prof. Steve Schey Ichaimianl Prof. Steve DeVe￿uX Mr. Paul Smith Dr. Christopher McNamara Dr. Graham Collins Prof. Jessica Okosun IAppointetl 14kn Novemtxr 2023) Mr. Michael Ainley IAppointe(114th November 20231 Ms. Penny Clarke (Appointed 1411 November 20231 Princlpal offic• The principal office of the charity is 5th FILX)r East, 250 Euston Road, London NW12PG. Advlsors Bankers Coutts & Co 440 The Strand London K2R OQS Investment managers CCLA Fund Managers Ltd Senator House 85 Queen Victoria Street London EC4V 4ET Independent examiner Geofftey Frosl Bsc (Honsl FCA Blue Spire LirTh￿l Cawley Pnory South Pallant ch￿hester Wesl Sussex P019 1SY 2. Structure¥ governance and management Structure ol the ¢harlty The Lymphoma Research TTUSt was set up as The Colloperative Clinul Can￿r Therapy Trust Fund by Deed of Trust dated 2 December 1971. In 1990 the trustee5 received pem)ission from the Charity Commission lo adopt the rnformal name ol the Lymphoma Research Twsl which conveys the main interest of the charity n￿re accuratety than its original and officjal name. Lymphoma Research Trust (Registered as The Covoperativo Clinical Cancer Therapy Trust Fund) Re¢ruSlment, appointment and tralnlng of trysl••s Under the tem)s of its Deed of Trust the Lymphoma Research Trust musl have at beast five trustees. New trustees are appointed by the continuing trustees * their meetings. which are held al least tw(£ a year. A majority of the continuing trustees is suffic*nt lo e*t a new trustee. Trustees are kept up lo dale regularty wmh changes relth.ng to charity kgisLAtion. Conferences organvzed by legal. financial and investment professionals are available for tmslees to attend. The Iruslees delegate the day- ttrday operation of the charrty to the administrator. Rl$k management polky The trustees maintsin a risk register and actwety review the risks which the charity faces on an annual basis. 3. Oblectives and actlvltles The princip￿ objective of the Lymphoma ReseaTch Trust is to provwje funding foi the study and relief of those suffering from Hodgkin disease, ￿mOurS of the lymph glands. leukaemia and similar or related diseasès. In fotrnulating and applying these objects. the trustees have regard for the guidance of the Chaiity Commission on Public Benefit. The Lymphoma Research Trust does this by making grants to research programmes. In particular, it has supp(>rted the work of the Haematology Trials Group, part of the Cancer TriaLs Centre at University College London, for many years. The Haematok)gy Trials Gioup is a leading research centre which co-ordinates clinical trials into all type5 of lymphoma- Hodgkin disease and non-Hodgkin tymphoma. Grnnt4naklng policy The trvslees welcorne grant applicalions from ￿ntreS of excellence for lymphoma research in the UK. Grant applications are ￿VIeWed against the objects of the charity and where relevant or ne￿sary, the trustees will arrange for peer review of applications. Achievements and ￿lf0mMne8 The Lymphoma Research Trust continues 10 5UPWrt the Haematobgy Trials Group al University College London. The charity continued with the third year of the £502,956 grant lo provbje funding forthe group for three years from January 2022 to December 2024. This was lo fvnd a tU￿￿￿r group lead120%1. a dats manager {100%), a Sen￿ tria15 COllordinalor1100Qhl and a database developer150%1 which facilrtate the maintenance of the tllals databases and trials where a long-term assessment of treatment effiGa¢y, and treatment related toxty is required. ThÈs enables them to improve patient care with the development and optimisalion of therapy resuhing in a reduction in morbidity and mortality. The charity also continued to WOVKle fUnd￿g fora Lymphoma ClinKa Trials Fellow. In November 2023, £71.010 was granted for the years from Fèbruary 2024 to January 2026. The Haematology Trials Group is an active research gToup wrth 4 tymphoma trials open to recru((ment and 4 al the set-up stsge or grant applicakn.on stage or Whe￿ pattents a￿ being folk￿ed up for OLrtcomes lo trealmenL In addiiion to this, the group manages a fijrther 11 trials where resutts are being wnttèn up or presented al conferences. Further information on the trials can be fouTrJ on the CR UK and UCL Cancer Trials Centre websrte at htt '.IlvMw.clc.UGI.a¢.uk. The continued support from the Lymphorna Research Trust has been fijndamental in shaping the Haematology Tiials Group and has helped the group succeed in running praclice24. the Lymphoma Research Trusl received many donatsons from patients. their relatives and fr￿nds. Donations arrK*unled to £61.331 12023.. £76,989). Wthout these donabons, the Lymphoma Research Trust's ability lo fund essential core research woukd be severdy curtailed and the trustees are very grateful for the support of donors and fundraiser5. The charity received legacies lotsling £10.500 during the year12023". £5.0001. In February 2023 the Charity was notifted of a potential legacy. At this yearond date itwas still not possib￿ to quantify the atTh)unt the Charity may receive. and so no accrual has been made in these accounts for this income. Investment income was £48,67012023". £47.560). Thi5 brought income from all sources in the year lo a total of £120,501 12023-. £129,549). Exwnditure on generatsng funds was £18.744 12023_' £15.$941. Expenditurè on charrtable activities was £91,92812023' £45,284). Total expenditure for 202&24 can* to £110.67212023'. £60,8781- Reserves policy The trustees. policy is lo ensure that totsl assets cover al leasl three years, estimated costs lor the management of trials. the cost of one Lymphoma Clinical Fellowship over a three-year peri￿fj, and the full outstanding costs of specific projects lo which the trustees are commilted. This is currenty estimated to be £810,520. The level of fvnd5 at 31 March 2024 after dedL￿￿.ng grant commitrrEnts already made was £1.183,83712023'. £1,047,955). Invostm8nt policy The trustees have wde powers of investment conferr&J on them by the Deed of Trust The Lymphoma ReSea￿h Trusl is invested in the CCLA COIF Charitses Investrnent Fund. The Iwstees receive regular reports on the performan￿ of their investments and the investment managers meet the trustees once a year. Given the k)ng-term natu￿ of the work undertaken, the trustees have sel an investment strategy for funds, beyond Iheii immediate day to day requ1￿MentS. which seeks lo balance current income with k)nger term capital appreciation in order to seek to preserve the real ¥a￿e of their funds. The trustees monitor the cash flow of the chanty dosety. 6. Plan$ for luture perlods The Lymphoma Research Trustwill continue to make grants to SUPE￿ research into the causes and treatments of lymphoma. 7. Statement of Trustees. wesponsibilities The trustges are respon￿ble for preparing the Trustees. Annual Rewrt and the finanual ststements in accordance with applicable Faw and United lQngdom Accounting Standards (Unrted Kingdom Generally Accepted Accounts"ng Practice). The law applicable to charities in England & Wales requires the Iruslees to prepare financial slalemenls for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources ofthe charity forth* period. In preparing these financial Slalemenls, the trustees are required to.. setecl suitabk accounting polKies and then appty them consistenty.. Lymphovna Research Trust {Registered as The CO￿Perative Clinical Cancer Therapy Trust Fund) obserye the methods and principles in tr* Ch*￿e$ SORP.. make judgements and esth"males that are reasonable and wudenl.. stale whether applicab￿ a¢¢ounting standards have fdkmfed. subject to any material departures disdosed and explained in the financial statements.. p￿para the financial statements on the going conc&m ￿lS unless it is inappropriate lo presume that the charTty will continue in operation. The tru51ees are responsitAe for keepin9 proper accounts'ng rec¢yds that discb)se with reasonab￿ accuracy at any lime the financial positson of the charity and enable them to ensure that the financial slalemenls Comply with the Charities Act 2011, the Charity IA¢¢ounis and Reports) ReguLalions 2008 and the provisions of the trust deed. They are a150 responsible for safeguarding the assets of the chaftty and hence for taking reasonable steps for the prevention and detection of fraud arbd other iffegulafilie Approved by the Board of Trustees on 19th Novemtrm 21r24 and signed on ts behatf by". Mr P Smilh Trustee Lymphoma Research Trust (Registered as The Co•operative Clinical Cancer Therapy Trust Fund 8. Independent Examlnerfs Report to the Trustees of Lymphoma Reseaych Tn￿t I report lo the charity trustees on my examination of the ac¢x•unts of the charity for the year ended 31 March 2024. Responslbllltlas and basis of report As the charity's trustees you ale responsib￿ for the preparatKJn of Ihe ￿CoUnts in accordance with the requirements of the chariti.es Act 20111"'the AcY}. I report in ￿SpeCt of my examinalion of the charity's accounts carried oul under section 145 of the Act and in carrying out my examinatson I have followed all the appl￿b￿ Direcbons given by the Charity Commission under section 14515llb) of the Act. Ind8pend?nt examinerfs statement I have cornplele¢J my examination. I confim) that no matwial matters have come to my attention in connection with the examinatr'on giving m Cause lo believe that in any Materi￿ respect accounting records were not kept in respect of the chanty as required by secb.on 130 of the Act". or the accounts do not accord wrth those record5", or the accounts do not compfy wilh the applicable reqU1￿ments conceming the fomi and contenl of accounts sel out in the Charities IA¢counts and Reports) Regulations 2008 other than any requirement that the accounts give a'true and fair vievl wh￿h is not a matter considered as partof an independent examination. I have no concerns and have come across no othermatters in connect￿￿ with the examination lo which attention should be drawn in thi5 report in order to enable a proper undetstanding of the accounts lo be reached. 28 November 2024 Geoffrey Frost BSclHons) FCA Blue Spire Limited Cawley Priory South Pallant Chichester Wesl Sussex P019 ISY Date Lymphoma Research Trust 2023-24 9. Ststement of Financial Activities for the year ended 31 March 2024 Unrestricted Funds Notes 2024 2023 Income and endowments from: Donations Legacies Investments Total 61,331 10,500 48,670 120,501 76,989 5.000 47,560 129,549 Expenditure: Raising funds - investmerrt management costs Raising funds- fundraising costs Charitable activities Total 7,976 10.768 91.928 110,672 8,438 7,156 45,284 60.878 Nel gainsl(losses) on investments 126.053 (66.674) Net incomel(expenditure) 135.882 1,997 Fund balances brought forward at 31 March 2023 1.047,955 1,045.958 Fund balances carrled forward at 31 March 2024 1183 837 1047 955 Lymphoma Research Trust 2023-24 10. Balance sheet as at 31 March 2024 Uhrnstrf¢i•d Fun 2024 2023 Notes Flxed assets Investments 1,249.468 1,431.391 Current assets Debtors.. prepa￿nents arwj wu8d irKxxne Cash at bank and in hand 20,262 355.207 375,469 11.242 193,122 204,364 Totsl current assets Current liabilities Accruals 1800) 14,5031 402.597 407,900 18001 {49.8611 409.397 460,058 other Creditors Grants payable Total current liabilities Net current assets 32,431 25S,694 Total assets less current liabilitles 1.217.037 1.175.697 Creditors: amounts falling after Or￿ ye (33.2001 1127.7421 Net ￿￿ets 1,183,837 1,047,955 Accumulated funds Brought forward at 31 Marth 2023 Surpluslld8fficitl for the year 1.047.955 135,882 1.045.958 1.997 Total funds 1.183.837 1.047.955 The I￿te5 numbered 1 to 7 forrn Part of these aCC￿nts. Approved by the Board of Trustees on ',9 IoL* and sbJned on its behall by". Tfuslee..... M. P Enl, Lymphoma Rasearch Trust 2023-24 11. Notes to the Financlal Statements Ac¢ountlng policies 1.1 Accountlng convention The LyThphom8 Research Trust 1$ an unincorporated charity registered in England govemed by a constitution. The address of the prinupal office is 5th Floor East, 250 Euston Road, London, NW1 2PG and the charity's operations and prinopa a¢bvities are set out in the tru51ees' rekxj The charity constibjtes a putrAic benefft entity as defined by FRS 102. The finanaal statements have been prepared in accord8n¢e wth Accounting and Reports"ng by Chartties.. Slalemenl of Recommended Practice applicable to charibes preparing their accounts in accordance wth the Financial Repo￿n9 Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Repo￿.ng Standard applicable in the United Kingdom and Republic of Ireland FRS 1021, the Charities Act 2011 and UK Generally Accepted Practice. The financial statements are prepared on a going eoncem basis under the historical cost convention, modified lo include certain ilems al fair value. The financial slalemenls afe presented In sterling sthich 1$ the fiJnctional cJJffency ofthe charity and rourKled to the nearest £. 1.2 statement of u$h The charity does not indude a cash flow statement on the grounds that il is apP￿ng FRS 102 Section 1A. 1.3 Income recognition All incoming resouices are induded in the Statement of Financial Ath'vilies (SOFA) when the charity is legally enlrtled to the income after any perfomiance Cond￿On$ have been met. the 8mounl can be measured reliably and it is probable that the income will be recwved. Investment income is eamed through hokling assets for inveslmenl pU￿oseS such as shares. It ndudes Ilividends and interest. WheTe il is not praclicabbe to identify investment management cost5 Incurred within a scheme wth reasonable accuracy the investment income is reported net of these costs. 11 is induded when the amount can be measured reliably. Interest income is re￿gnised using the effective interest method and dividend and rent income 1$ recognised as the charity's right to receive payment is established. 1.4 Recognltlon of oxpen(tithre All expenditure is accounted for on an accruals basis and has been dasstfied under headings that aggregale all costs related lo the ￿tegOry. Expenditure is reeognised Whe￿ there is a legal or constructive obligation to make payments lo third parties. it is probable that the settlement will be required and the amourbt of the obligation can be measured reliably. It is calegorised under expendiluie on ¢haritsble activities arKI includes upkeep of the charity's properb.es and the cost of administering the aclivty of the charFty. Support costs a￿ those that assist the work of Ihe Charity but do not diredy represent d)aritable activities and indude office costs, and govemance costs. They are incurred directly in support of expenditure on the objects of the charity and on raisillg funds for the charity- Support Costs are allocated to expendrture on charitatrAe ac11v￿eS and raising funds on a basis consislenl w7th the use of those funds. Lymphoma Research Trust 2023-24 11. Notes to the Financial Statements Accounting policies 1.5 Cash & cash 8quivalents Cash & cash equlv￿ents indudes ¢ash at bank and in hand and Cash hek1 within the investment portfolio. 1.6 VAT The charity 15 not registered for VAT and 15 unable to recover VAT incurred. On this basis costs are recorded inclusive of VAT wthin the SOFA. 1.7 Flx•d aS￿t Inv•stmonts Investments are recognise(l initi.ally at tsir Wal￿ vthi¢h is normalty the transa¢ts"on price excluding transaction Costs. Subsequendy. they are measured al fair value wth change5 recognised in 'nel gains I1105sesl on investments. in the SOFA ￿re ￿veStments are pubtKty traded or their fair value can olherw7se be measured reliabty. 1.8 Dobtors rn¢¢lvabl• and ¢reditors payable within one year Debtors and creditors no stated interest rale and receivable or payable wlhin one year are recorded al transaction price. Any losses arising from impairment are recognised in expenditure. 1.9 Taxation The charity is ¢on$idere(I to pass the tests sel oul in $e¢tion$ 521 to 536 Income Tax Act 2007 IITA 20071, as such no income tsx 1$ payable on the ¢hanty$ a¢tivibes. 1.10 Golng ¢oncorn The financial stalernents have been prepared on a going concem basis as the trustees believe that no rnalerial uncertainties exist. The trustee5 have considered the level of funds held and the expected level of income arKI expenditure for 12 months from auihorising these financial slalements. The budgeted income arKI expenditure is suffiaent with the level of reserves for the charity lo be able to continue as a going corrEm. Lymphoma Resoarch Trust 202>24 11. Note8 to thè Flnanelal Statements {¢ontinuedl ofehArft•bh •xpgndllur• 202>24 ZD2243 Grnr4s lo lnstiluth￿s.. Lymphoma di)i¢al tri8ts fel Core Svpport lea￿eT Researth UKfiJCLCarthrTrfats CenWe} Dr. Dan￿1 Fiiedfflan. lQrw5 Coleo& LoThJ Dr. P0yrt¢￿- Barts C8rKw Ins¢itute Dr. ASsk"NJ Barrett- Oxfud Fk)5pitaL Dr Rohan Shotion. Christs & UN of Pla￿h8 SupFx)rt L¥>sls Inoie 31 Grant wite bacths 71.010 45.755 13.588 18.050 2.356 113,076) 2.461 129.862 91.928 kKaiion olsupport¢o•ts Total C**itati￿ support ¢05ts S¢aff cosls Independent 8x￿1n4￿0n fee5 Prawxi￿1 to siaff other Prw1h)nal to slaff costs 470 1,7 728 IV2 2.356 8.182 t¥rect costs of ra￿lry fi1r￿s Fund raisiny tos 4.942 10.768 Flxqd assot Ihv•sthwnts 2023 0￿￿0n￿ In the)wr Market ¥8lu8 811 W 2￿23 Add.. Acquisthon5 al cost Le&G". Thsposals ai c8ryirrfJ vth realised Ilosse5llgains Market value 3131 March 2024 1.4J1.391 1.5Cfj.503 124,991 1.249.468 5.112 1.431.391 1.188,8 1.495.795 CCLA r￿ana￿ fimds 1.WJ. 1.4Jl.J91 2024 20Z3 Di%idend wvxvna Bank dewsil ntuest 39.491 9,179 48,670 43.756 47.560 Indgpvnd•nt•xaffllnets rvmufi•rniio Govemance co$ts indude an of £660 payaNè to the ￿1ep￿knt e￿ninLy P023". £6601 an independent examinat￿. Tm8tae¥' Tom￿￿•￿￿0Th and rdatod partylv*m8a¢tloM trustees re¢ei%*d no remwerokn POfJ." £01. 8￿￿$85 of£53 reimbLvsed to trustees P023". £261. Lymphoma Research Trust 2023-24 11. Notes to the Financial Statements (Contlnued) Financial in$trum•nts The carrying amounts of the (*afitys financial instrUTh￿nts are as foll¢Jws: 2024 2023 Financial assets Measured at fair value thrO￿h nel in9)r￿1(exPenditurel. Fixed asset investments 1,249N68 1,431.391 The income. expense, net gains and net k)sses atlwibulable to the charivs financbal instruments are summarised as folh)ws: 2024 2023 Income and expense FÉnancial assets measured at fair value Ihrough net incomellexpeThJiturel InVest￿￿nI income Inveslment management f#es 39,491 ,976 31.515 43,756 8.438 35,318 2024 2023 Net gain5 and losses linduding change5 In fair wdluè) Financial assets measured al tsir value th[Q￿h net inu)M8llexpe￿ll1Urt} Net gainslllossesl on investments 126,053 166,6741 Fixed asset inveslments are held at fair value wrth valualions obtained by reference to market prices from the appropiiate stock exthange. bid price5 and last tsaded pn.ces where applicable.