Lymphoma Research Trust Registered as The Co-operative Clinical Can￿[ Therapy Trust Fund Charity Registration No. 263424 Report and Accounts For the year ended 31 March 2025 Contents 1. Legal and administralive inf0m￿tIOn 2. Structure. govemance and management 3. Objedives and activities 4. Achievements and perfom)ance 5. Financ￿1 reV￿W 6. Plans for fvture periods 7. Statement of Trustees. resrK)nsibilities 8. Independent exaM￿elS report 9. Statement of financial a¢l1vit￿S 10. Balan￿ sheet 11. Noles lo the financial statements Lymphoma Research Trust {Regi$tered as The C04>perative Clinical Cancer Therapy Trust Fund 1. Legal and admlnl$trnllve Infom)atlon Name ofthe charlty The full name of the LyTnphoma Research Trust is The Cwperative Clinical Cancer Therapy Trust Fund. The Lymphoma Research Trust is registered wth the Charity Commissioners of England and Wales and rts regIStrat￿n number is 263424. Trustees The trustees who held office during the year were: Prof. Steve S¢hey Ichaimianl {Retired 19 November 2024) Mr. Paul Smith (Chair from 20 November 20241 Prof. Steve Devereux (Retired 20 May 20251 Dr. Christopher McNamaTa Dr. Graham Collins Prof. Jessica Okosun Mr. Michael Ainley Ms. Penny Clarke Prlncipal office The principal office of tr* ehanty is 5th Floor East, 250 Euston Road, London NW1 2PG. Advlsors Banker Coutis & Co 440 The Strand London WC2R OQS Investment manager CCLA Fund Man¥Jers Ltd Senator House 85 Queen Vicioria Street London EC4V 4ET Independent examiner Geoffrey Frost Bsc (H(￿s) FCA 81ue Spire Limited Ca%•Aey Priory South Pallant Chichester West Sussex P019 1 SY 2. Structure. governance and management Structure of the charlty The Lymphoma Research Trust was set up as C¢>walive Clinical Cancer Therapy Tfust Fund by Deed of Trust dated 2 Decembef 1971. In 1990 the trustees received pennission from the Charity Commission lo adopt the infomial name of the Lymphoma Research Trust which conveys the main interest ofthe charity MO￿ a¢wralely than ifs original and official name. Lymphoma Research Trust (Registered as The Co-operative Clinical Cancer Therapy Trust Fund) Recruitment. appolntment and training of trustees Under the tem)s of its Deed of Trust, the Lymphcma Research Trust must have at least five Iruslees. New trustees are appointed by the conbnuing Injstees at their meetings, vknich S￿ held at least ￿ce a year. A majority of the contsnuing Iruslees is sufficient to elect a new trustee. TTUStees are kept up to date regularty wrth changes rd8ling to thartty legislation. Conferences organized by gal. finanaal and investment profeSsi(￿al$ are available for trustees lo attend. The Iruslees delegate the day- l￿daY operation of the charrty to the administrator. Risk management pollcy The trustees maintain a fisk regster and aciwety review the risks wknich the charity face5 On an annual b8SIS. 3. Objectives and activitles The principal objective of the Lympkna Research Trust is to provide fijnding for the study and relief of those suffering from Hodgkin disease, lumour5 of the lymph glands. leukaemia and any similar OT related malignant diseases. This objective is fulfilled by the establishment of an institution lo set up and maintain ctroperation befvleen clinics and other instrtuts'ons by collating, recording arKI disseminating the results of dinical therapy and research. In further3r￿e of these otrl'ects, twstees may Al Endow. assist or conduct projects of dinical research and therapy concerned with leukaemia, H(xYgkin disease, tumours of the tymph glands or any othet similar or rdaled malignant diseasfr for the benefft of persons suffering from the same. Bl Undertake the publication of the resulls of such prqecls ar￿ any reports inadental thereto. Cl Endow, furnish and fft out with all r￿eSSary fumrture and other equipment a dinic lo be known as the Co-operatsve Cancer Therapy Clinic. DI To advise. support and assist all organisalions. instituti￿$ or persons having similar charitable ots'ecls. In formulating and applying these objects. the trustees have ￿ard for the guidance of the Charity Commission on Publi¢ Benefit. The Lymphoma Research Tmst does this by making grants to research programmes. In particular. il has supported the work of the Haem*ology Trials Group, part of the Can￿r Trials Centre * University College London, for many years. The Haematology Trials Group is a leading research centre which co-ordinates clinical trials into 811 types of lymphoma - Hodgkin disease and non-Hodgkin lymphoma. Granl4naklng policy The trustees welcome grant applications from centres of excellence for ￿m￿0m8 research in the UK. Grant applications are reviewed against the oty'ects of the charity and where ￿levant or necessary, the trustees will arrange for peer review of applications. 4. Achlevements and perfomiancg The Lymphc8na Research Trust continues to support the Haemalology Trials Group al UnweTsily College London. During the year the charty approved a new grant of £583,227 to provhle furKling for the group for three years from January 2025 to December 2027. This was lofund a Clinical trials programme lead lead {2￿0), aln.als assistart1100%1. a prc4ect manager1100%1 and a statislician150%1. This enaNes them lo improve patient care bwth the devdopment and optimisalion of therapy resulting in a reduth'on in morbidity and mortality. The Haemalology Trials Group is an active research group vthh 5 tymphom3 trials open to recruilmenl and 7 al the set-up stage ot grant application stage or where patients are being followed up for outcomes to treatment. In addition lo this, the group manages a further 28 trials vthich are in follow up or have now been closed. Further information on the Irials can be fourKI on the CR UK and UCL Cancer Trials Centre website at htt .Ilwrn.ctc. -ac.uk. Lymphoma Research Trust (Registered as The C04)perative Clinical Cancer Therapy Trust Fund) The continued support from the Lymphoma Research Trust has been fundamenlal in shaping the Haemat￿0gY Trials Group and has help*d the group succeed in running praCtice-ch￿9lng triaks. During the year. the trustees awarded £23.250 to Andrew Mckean of the Royal Marsden NHS Foundation Trust for the project on the phenolypir¥J the immune landscape in breast implant associated anapla5tic large cell lymphoma. £39.934 was also awarded to Dr Heather Long of the University of Birmingham for a study into invesligats'ng the immune micfoenvironmenl of posl-transpLant tymphoproliferatwe disease. S. Financial review During 2024-25, the Lymphoma Research Trust received many donalions from patients, their relatives and friends. Donations amounted to £57.181 {2024.' £61.3311. Wrthout these donations, the Lymphoma Research Trust'5 ability lo fund essential core research would be severely curtailed and the trustees are very grateful for the support of donors and fundraiseTS. The Charity re￿1Ve￿ legacies lotaling £500 during the year12024". £10,500}. In February 2023 the charity was notified of a potential significant legacy. Al this year-end dale rt was sts"Il not possible to quantify the amount the Charity may receive. and so no atLrU￿ has been made in these accounts for this income. Investment income was £46.319 {2024'. £48.670). This brought income from all sources in the year to a total of £104,000 {2024.' £120.5011. Expenditure on generating funds wa5 £22.559 12024". £18,744). Expenditure on charitable activities was £650,36312024.' £91.928}. Total expendrture for 2024-25 came to £672,922 (2024. £110.6721. Reserves policy The trustees, policy is lo aim that total assets cover at least three years, estimated costs for the management of trials, the Cost of one Lymphoma Clinical Felowship over a three-year period, and the full outstanding costs of specific prqects to vthich the trustees are ccffimitted. This is currently esb"mated lo be £808,027. The lèvel of funds al 31 March 2025 after deducliTrJ gant commib))ents alrea(ty made was £569,321 {2024'. £1,183,837). Trustees ￿￿)gnISe that this is ￿loW the target level of reserves but Ihis is in the kno￿edge that there is 8 period of two years before Ihe core grant will be considered again. Investment pollcy The trustees have wde powers of inVestm￿t ccmferr&l on them by the Deed of Trust. The Lymphoma Research Trust is invesle(l in the CCIA COIF Charities Investment Fund. The trustees receive regular reports on the perf0m1￿ce of their investmenls and the investment managers meet the Iruslees once a year. Given the lonTrlerm nature of the work u￿Iertaken. trustees have set an investrnenl strategy for funds. beyond their irnrnediate day lo day iequiremenls. vthi¢h seeks lo balance current income with longer term capital appreciation in ordei lo seek lo preseNe the re￿ value of their funds. The Iruslees monrtor the cash fl¢)w of the charity closety. 6. Plans for future perlod$ The Lymphoma Research Trustwll continue lo make grants lo supwt research into the causes and treatments of lymphoma. Lymphoma Research Trust (Registered as The C04)peratlve Clinical Cancer Therapy Trust Fund) 7. Statement of Trnstees. responslbllltl8s The trustees ar8 responsible for preparing the Trustees. Annual Report arKI the financial $18lemenls in accordan￿ wth applicable law and Unrted KirwJdom AewJnts"ng Standards (United Kingdom Generally Accepted Accounbng Practice). The law applicable to chafities in EnglaThl & Wales requires the tfusI￿S lo prepare financial statements for each financial year which give a true and fair view of the slate of affaiT5 of the chanty and of the incoming resources and application of resources of the chaTrty for that period. In prepanng these financial statements, the trustees are required lo-. sdect suitstAe accounting poliues and Ihen apply them consislenlty.. ob5eThe the methods and ￿n¢&￿¢S in the Charities SORP: make judgements and estimates that are reasonal￿e and kyudenl" state whether applicable accountirwJ standards have been followed. Su￿.eCt lo any material departures disclosed and explwned in the financial st*emenls'. prepare the financial statements on the going concem b￿"$ unless rt is inappropriate lo presume that the charity will conlinL* in operation. The Iruslees are responsible for kee¥xng proper accounting records that discfose wth reasonable accuracy al any time the financial position of the Charity and enable them to ensure that the finanaal statements compty with the Charities Art 2011. the Charity IAccounts and Reports) Regulations 2008 and the provisions of the trust deed_ They are also responsible for safeguarding the assets of the charity and hence for taking feasonable steps lor the prevention and detection of fraud arKI other ifregulairties. Approved by the Board of Trustees on 1V November 2025 and signed on ils behalf by: Mr P Smith Trustee Lymphoma Research Trust (Registered as The Cowoperative Clinical Cancer Therapy Trust Fund . Independent Examlnerfs Report to the Trustees of Lymphoma Research Trust l ￿port lo the charity trustees on my ex￿inatiOn of the accounts of charity for the year ended 31 March 2025. Re$pon$lbllltl¥s and basls of report As the charity's trustees you are responsible for the Weparatic￿ of the a¢ctrJnts in accordance with the requirements of the Charrties Act 2011 (kn Ad.). I report in respe￿ of my examination of the chanty's ￿ount$ carrie(l out under section 145 of the Act and in carying out my examination I have followed all the ap￿1¢able Dire¢tw)ns given by the Charty Commission under sectjon 14515llbl of the Art. Indopgndent examinerfs statement I have completed my examination. I confirm that ￿ material matters have come to my attention in ¢onneclion with the examination giving me cause to believe that in any material respect.. counting records were not kept in respecl of the charity as required by se(aion 130 of the Act", or the accounts do accord wlh those records,. or the accounts do not comply with the applicable requirements cOr￿eming the fonn and content of accounts Set out in the Charities {Accounts and Report51 Regulations 2008 other than any requirement that the accounts give a'true and faif which is ￿t a wnatterconsidered as part ofan independent examination. I have no concems and have come across no other matters in connection ￿￿th the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to ￿ reached. Geoffrey Frost BSclHon$l FCA Blue Spire Limited Cawley Priory South Pallanl Chichester West Sussex P019 1SY Dale 25 November 2025 Lymphoma Research Trust 2024-25 9. Statement of Financial Activities for the year ended 31 March 2025 Unrestricted Funds Notes 2025 2024 Income and endo￿nents from: Donations Legacies Investments Total 57.181 500 46,319 104,000 61,331 10,500 48,670 120,501 Expenditure: Raising funds- investment management costs Raising fvnds- fundraising costs Charitable activities Total 7,410 15.149 650.363 672,922 7.976 10,768 91,928 110.672 Net gainsl(lossesl on investments {45.594) 126,053 Net incomel{expendlture) {614,516) 135,882 Fund balances brought forward at 31 March 2024 1,183,837 1,047,955 Fund balances carried forward at 31 March 2025 569 321 1 183 837 Lymphoma Research Trust 2024-25 10. Balance sheet as at 31 March 2025 un￿51￿cted Funds 2025 2024 Noles Flxed assets Investments 1,1%,464 1.249.468 Current assets Debtors.. prepayments and accrued income Cash at bank and in hand 9,396 178.288 187.684 20.262 355.207 375.469 Total current assets Current Ilabllltles Accruals 16.8001 Other ￿ditOrS 14.5031 402.597 1407.900 Grants payable Total current Ilabllltles 424.337 431.137 N•t current assetsllllabllltSesl 243.453 32.431 Total assets less current l￿bIlItIes 953.011 1.217.037 Creditors.. amounts falling due after one year 1383.6901 {33.2001 Net assets S69,321 1,183,837 Accumulated funds Brought fO￿ard at 31 March 2024 Suipluslldeficitl for the year 1,183,837 1614,5161 1,047,955 135.882 Totsl fund¥ 569,321 1,1B3,837 The notes numbered 1 to 7 fo￿ part ol these accounts. Apprtsved by the Board of Trustees on 18th Novembet 2025 and signed on its beh81f by.. Mr P SrTMth ChaiTman . Lymphoma Research Trust 2024-25 11. Notes to the Financial Statsments Accounting policies 1.1 Accounting ¢onv•ntlon The Lymphoma Research TTUSt is an unincorporated charrty regISte￿d in England governed by a con51itulion. The address of the principal office 15 5th Floor East. 250 Euston Road, London, NW1 2PG and the ¢harty's operations and wincipal a¢tiwb"es a￿ Set oul in the trustees. report. The charty constitutes a public benefft entsty as defined by FRS 102. The financial slalemenls have been prepared in a¢cordance 7Mth Accounting and Reporting by Charities. Statement of Recommended Practice applicable to charities Preparing their accounts in accordance ￿th the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United ￿'ngdoM and Republic of Ireland IFRS 1021. the Charities Act 2011 and UK Generally Accepted Practice. The financial statements a￿ prePa￿d on a going concem ba515 under the historical cost convention, modified to indude certain items at fair value. The financial statements are presented in 5terfing which is the functional cU￿encY of the charity and rounded to the nearest £. 1.2 Statement of cash flows The ¢harity does not include a cash Ilow statement on the grounds that it is applying FRS 102 Section 1A. 1.3 Income r¢coynition All incoming resources are induded in the Statement of Financial Activrties {SoFAI ￿en the charity is legally entitled to the income after any performan¢e ¢ondtb'ons have been met, the amount can be measured rella￿Y and il is probable that the income NMII be received. Investment income 13 eamed through holding assets for investment purposes Such as Sha￿$. It includes dividends and interest. M)efe it is not practicable to identify investment management cost5 incurred within a scheme wth reasonable accuracy the investment income is reported nel of these ¢osls. It is induded when the amount ¢an be measured reliably. Interest income 15 iecognised using the effective interest melh¢xl and Ilividend and rent income is recognised as the charty's right to receive payment 15 established. 1.4 Recognition of eX￿ndIture All expenditure is accounted for on an accruals basis and ha$ been dassified under headings that aggregate all costs related to the category. Expendilure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be requifed and the amount of the obligation can be measured reliably. 11 15 calegorised under expenditure on charitable activities and includes upkeep of the chanty's properties and the cost of admini51ering the activity of the charity. Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, and govemance costs. They are incurred diredy in support of expenditure on the objects of the charity and on raising fijnds for the charity. Support cos15 are alltscated to expenditure on charrtable activities and raising funds on a basis consislenl wlh the use of those funds. Lymphoma Research Trust 2024-25 11. Notes to the Financial Statements Accounting policies 1.5 Cash & cash oquivalanls Cash & cash equNalents indudes ¢ash at bank and in hand and cash held wthin the investment portfolio. 1.6 VAT The charity 15 llot registered for VAT and is Unab￿ lo recover VAT incurred. On this basis costs are re¢orded inclusive of VAT wthin the SOFA. 1.7 Fixed asset investments Inve51menls are recognised initially al fair value ￿lch is nomially the Iransaction price excluding transaction costs. Subsequendy, they are measured at fair value with changes recognised in 'net gains I Ilossesl on investments, in the SOFA vthere investments are publicly traded or their fair value ¢an othe￿ise be measured ￿lIablY. 1.8 Debtors rnceivablo and creditors payabl8 within year Debtors and C￿drtorS ￿th no stated interest rale and reGeivable or payable wlhin one year are recorded at transaction price. Any losses arising from impwm)enl are reGognised in expenditure. 1.9 Taxation The charity is considered to pass the tests set out in seclions 521 to $36 In¢ome Tax Act 2007 IITA 20071, as such no income lax is payable on the charity's ath'vities. 1.10 Golng concèm The financial slatemenls have been p￿pa￿d on a going concem basis as the Iruslees believe that no material uncertainties exist. The trustees have ¢onsidereil the level of funds held and the expected level of income and expenditufe for 12 month5 from aulhorising these financial statements. The budgeted income and expenditure is sufficient vrilh the ￿Ve1 of reserves for the charity to be able lo continue as a going concem. Lymphoma Research Trust 20W2S 11. Notes to tht Flnanclal Staternents Icortinwdl Anatysls ofchJrt•W• •ApAndknre 202￿$ 202M4 Univei&ty Colege Lcnth.Yfar 1 Ctyt 2025 Unwgty Colege L