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2023-03-31-accounts

Annual Report and Financial Statements

For the year end 31 March 2023

Contents

Trustees, Strategic Leadership Team, supporters and advisers � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 3 Chair’s introduction � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 4 The year in numbers � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 7 What we do � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 9 Strategic Report – a year of growth and impact � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 10 Financial review � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 27 Section 172 statement � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 32 How we operate 2022/23 � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 43 Independent auditors’ report � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 63 Financial statements Consolidated statement of financial activities � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �68 Parent charity only statement of financial activities � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �69 Consolidated and charity balance sheets � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �70 Consolidated and charity statements of cash flow � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 71 Notes to the financial statements � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �72

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~2~~

Trustees, Strategic Leadership Team (SLT), supporters, and advisers

Patron

Olivia Colman CBE

Life President

Simon Dyson MBE

Board of Trustees

Board and subcommittee Chairs

Chair of the Board of Trustees Nicola Horlick

Vice Chair Carol MacKinnon (until 24 July 2023) Martin Laws (appointed 24 July 2023)

Chair of the Audit and Finance Committee Carol MacKinnon (until 24 July 2023) Debbie Lee (appointed 24 July 2023)

Chair of the Governance and Risk Committee Martin Laws

Chair of the Nominations Committee Nicola Horlick

Trustees

Mike Altendorf[3] Dr Leanne Armitage Dr Susan Conroy[2] Nicola Horlick[1,2,3] Dr James Kustow Martin Laws[1,2,3] Debbie Lee[1,5] Carol MacKinnon[1,3,8] Matt Miller[1] Katy Minshall[6] Mark Ritson[2] Dr Ann Robinson[2,3] Simon Spyer[4] Dr Victoria Potter[7]

1 Audit and Finance Committee Member

2 Governance and Risk Committee Member

External Medical Advisers

Professor Charles Craddock CBE Professor Antonio Pagliuca (appointed 1 May 2023)

Strategic Leadership Team

Chief Executive Henny Braund MBE

Chief Bioinformatics and Immunogenetics Officer Professor Steven Marsh

Chief Digital and Information Officer Mark Reid (Interim 3 May 2022 – 30 April 2023)

Paul Airey (appointed 15 May 2023)

Chief Engagement and Marketing Officer

Terence Lovell (until 31 October 2022)

Chief Engagement Officer Chris Phillips (appointed 1 February 2023)

Chief Financial Officer Ian Deans

Chief Medical and Scientific Adviser Professor Antonio Pagliuca (until 1 May 2023)

Chief Medical and Scientific Officer Dr Robert Danby (appointed 1 May 2023)

Chief Operating Officer Nicola Alderson

Chief Strategy Officer Hugh Allen

Company Secretary Samantha Durling

Anthony Nolan

Registered Office Royal Free Hospital Pond Street, Hampstead, London NW3 2QG

Administrative Address 2 Heathgate Place, 75–87 Agincourt Road, Hampstead London NW3 2NU

Independent Review Board for Research Applications Requesting Donor Material and/or Data

Chair

Dr Laura Machin

Senior Lecturer in Medical Ethics at Lancaster University (until August 2022)

Salmah Ahmed

Director of Quality and Regulation at Anthony Nolan (appointed August 2022 – previously Co-Chair)

Co-Chair

Dr Angharad Pryce Senior Medical Officer at Anthony Nolan (appointed August 2022)

External Haematology Consultants

Dr Victoria Potter

Haematology Consultant at King’s College Hospital NHS Foundation Trust

Dr Farheen Mir

Haematology Consultant at The Royal Marsden NHS Foundation Trust (appointed July 2022)

Dr Jose Ros-Soto

Haematology Consultant at Imperial College Healthcare NHS Trust (appointed November 2022)

Dr Mili Shah Consultant Haematologist at the King’s College Hospital NHS Foundation Trus t (appointed December 2022)

Dr Sara Lozano Cerrada Haematology Consultant at Imperial College Healthcare NHS Trust (appointed January 2023)

External Ethics Consultant

Dr Laura Machin Senior Lecturer in Medical Ethics at Lancaster University

External Trials Manager Representative Zahara Ghory Senior Trials Manager at The Royal Marsden NHS Foundation Trust

Professional Advisers

Independent Auditors

BDO LLP, 55 Baker St, London W1U 7EU

3 Nominations Committee Member

4 Retired as Trustee 22 September 2022

5 Appointed as Trustee 9 November 2022

6 Appointed as Trustee 17 April 2023

7 Appointed as Trustee 3 July 2023

8 Retired as Trustee 24 July 2023

England And Wales Charity Registration Number 803716

Scotland Charity Registration Number SC038827

Bankers

Barclays Bank plc, 1 Churchill Place, London E14 5HP

Solicitors

Russell-Cooke LLP, 8 Bedford Row, London WC1R 4BX

Company Registration Number 02379280

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~3~~

Chair’s introduction

This annual report is being produced at an exciting time for Anthony Nolan. We have just launched our new five-year strategy – our most ambitious to date – and are looking forward to embracing the opportunities that this will create.

Our team coped admirably with the challenges presented by the COVID-19 pandemic, and steered the organisation through the experience with great skill� We finished the financial year ending in March 2023 financially stable and we have also continued to grow and make substantial progress since the year end� As we look back on what we achieved over the period of our previous strategy we know we are perfectly positioned to exploit every opportunity presented by the new one� Our new strategy – Unlocking new ways to treat every patient – has been developed through collaboration with colleagues, our Strategic Leadership Team (SLT), Trustees, patients, families, supporters and partners� The emphasis is on saving more lives, improving the quality of life for survivors and ensuring that all patients have equitable access to, experience of, and outcome from, treatment� At the same time new therapies and ground-breaking research will play a role in saving even more lives as we strive towards a future where every patient who needs us can survive and thrive�

Promoting equity

One of our aims has long been to increase the ethnic diversity of our donor register and our new strategy intends to push this even further so that more patients find the best possible donor match� We will continue our work in the UK to encourage different ethnic groups to come forward and join the register and also collaborate with partners overseas to make sure more patients from minority ethnic groups can find a donor�

But it is not just finding a match that is an issue� We want to better understand the barriers and disparities that some patients face because of their identity, background and circumstance and understand what works in overcoming these� For example, there is evidence from across healthcare that patients from different ethnic backgrounds can experience delays in getting a diagnosis and referral, leading to poorer outcomes� There are also disparities in access and experience in different geographic areas within the UK� And different levels of understanding about symptoms and how the healthcare system works also makes a difference to patients�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~4~~

We want to help remove the barriers that some patients will experience in accessing the best treatment and care in the quickest time, and provide first rate information to support patients and their loved ones� Our new strategy includes a focus on increasing our knowledge about why these disparities exist so we can then work in partnership to overcome them�

Developing new treatments

It has been 50 years since Shirley Nolan set up the world’s first donor register, and we have made enormous progress since then and saved many lives� However, we know that so much more can, and must, be done� We are now at a point where we need to take the next steps to save even more lives and we believe that new cell and gene therapies hold the key to increasing survival rates� These new therapies could provide a bridge to a stem cell transplant or eliminate the need for one altogether for some patients� We will still need our fantastic donors and cord mums, but their cells will help us and patients in a different way – to save individual lives, but also in order to facilitate the research that could save multiple lives�

In the coming years, we will use our scientific experience across bioinformatics, immunogenetics and immunotherapy to help drive forward advances in new cell treatments� As these new treatments become available, we will be working closely with treatment centres and patients to understand what further improvements can be made to ensure that survivors have the best possible quality of life�

These new treatments will still require us to continue building the register� I would like to thank our cord mums and potential donors, whether they have been called upon to actually donate or not, for putting their trust in us and offering our patients a chance of survival� Without you, many lives would have been lost over the past 50 years and we are extremely grateful for your generosity and kindness�

Our generous supporters

As well as those incredible stem cell donors, we also have nothing but gratitude for those supporters who donate and raise funds for our vital work� Given the rising cost of living, many charities have found it difficult to raise money over the last year� Despite this, our fundraising has remained stable, and I would like to thank our supporters and those who have participated in sponsored events to raise money for Anthony Nolan�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~5~~

Our Trustees

During the last year Simon Spyer and Carol MacKinnon retired as Trustees� Simon’s family has had a long association with Anthony Nolan, and I hope that we will remain in touch with them over the coming years� Carol was Vice Chair of the Board of Trustees, and Chair of the Audit and Finance Committee, and has made a significant contribution to the success of the charity� In the coming months Ann Robinson and James Kustow will be retiring from the Board� All have been long-serving and vital members of the board, providing invaluable expertise, advice, and support�

Since the year end, we have appointed Debbie Lee, Katy Minshall, and Dr Victoria Potter as Trustees� Debbie is a qualified chartered accountant, Katy brings a wealth of experience in Public Policy and social media, and Victoria brings significant expertise in policy, advocacy, research, and patient care� Their knowledge and skills will be invaluable to the Board�

I would like to thank all of my fellow Trustees for their commitment to the charity over the last year� They have used their various areas of expertise to help the SLT and been generous with their time�

Finally, I would like to thank everyone who works at Anthony Nolan� Despite the difficulties arising from the legacy of COVID-19, cost-of-living challenges and global uncertainty, they have continued to perform brilliantly and achieved beyond all expectation� Every patient expecting a stem cell transplant has received their cells on time and this is due to the dedication and tenacity of the Anthony Nolan team�

Nicola Horlick Chair

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~6~~

2022/23

The year in numbers

Throughout 2022/23 our lifesaving work has continued to thrive. Here, we put the results of that work into numbers:

1,429 patients were given a second chance of life�

Our patients

1,455

engagements with our patient services team (phone, email, social media, patient and families forum)�

395

grants provided, totalling £123,958�

109,354

visits to the patient and family web pages in the last year�

4

new Clinical Nurse Specialists and Clinical Psychologists funded this year which brings us to a total of 8 posts currently being funded�

93

patients and family members accessed our Telephone Emotional Support service�

37,480

Our stem cell donors

18,748 people who signed up were recruited online�

7,036

people were recruited by our university network Marrow�

18,732 were registered via events�

8,311

new potential donors from a minority ethnic background were added to the register�

895,794

total potential donors are now active on the register�

65,642

potential donors have had their cytomegalovirus (CMV) status processed�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~7~~

The year in numbers 2022/23

£8,742,000 in total was raised and donated by dedicated supporters and partners�

25,351

transplants facilitated since the organisation began in 1974�

Our supporters

1,568

pieces of coverage generated by us across print, broadcast and online media�

140,009 visits to our website by supporters and patients�

Our operations

2,379

searches for unique UK patients were carried out by our Search and Selection team�

858

journeys were taken by volunteer couriers to transport stem cells between donors and patients in need�

940,382

engagements on our Facebook, Twitter, Instagram, LinkedIn and TikTok channels�

1,374

people gave their time as volunteers for us�

451

provisions of adult cells, cord blood or cord tissue to external researchers or organisations for Cell and Gene Therapy Services�

57

published scientific journal articles were written or contributed to by Anthony Nolan researchers�

2,729

cord blood units collected�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~8~~

What we do

Anthony Nolan saves and improves the lives of patients in need of a stem cell transplant.

We do this by connecting people in desperate need of a stem cell transplant with incredible strangers ready to donate their stem cells� This has been at the core of Anthony Nolan’s work since the organisation first began in 1974� Today, our lifesaving work extends far further� We bring together our growing register of potential donors with both cutting-edge research and specialised patient services to save and improve more lives�

Working together, we give three people a second chance of life every day.

This report reflects on our financial year ending in March 2023 so achievements are measured against the aims and ambitions set out in our organisational strategy that came to an end at the same time Together, we can save lives � For the purpose of this report we have focused on the vision and values set out in that strategy as follows:

Our Vision

To save and improve the lives of everyone who needs a stem cell transplant.

Our Values

Every day we live and breathe our values to ensure we can deliver the best for everyone, from transplant patients to families, donors, partners, supporters, and colleagues� Five values guide our work, which ensures we are always:

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~9~~

Strategic report

A year of growth and impact

2022/23 marked the final year of our organisational strategy Together, we can save lives , which has provided the framework for organisational planning and decision-making since 2019 in order to achieve the following aims:

Aim 1: Together, we can provide outstanding services for patients and the clinical community.

Aim 2: Together, we can drive lifesaving research and turn it into action for patients.

Aim 3: Together, we can harness the collective power of our supporters to champion and enable our lifesaving work.

Aim 4: Together, we can be a stronger voice for patients to ensure they receive the best possible care.

Aim 5: Together, we can.

Substantial progress in the face of challenges

The world today looks very different from when we first set out our strategy� Faced with significant challenges we have been able to stay true to the focus and ethos of our strategy, continue to pursue its ambitious aims and achieve some incredible things over the lifetime of the strategy� It has seen us through the pandemic, geopolitical and economic upheaval, and now the rising cost of living� The necessity to adapt and react to shifting landscapes has driven us to embrace innovation more than ever, explore new and developing income streams and seize exciting opportunities whenever they have presented themselves� This has meant that we have continued to make progress towards the five aims of that strategy, despite changes and challenges felt within the organisation, the sector and across the entire globe over that time period� In the last year alone we have been able to offer a second chance of life to 1,429 people both here in the UK and internationally, which was an increase on the 1,365 figure of the previous year� Not only that, during the same 12-month period our income grew by £5m to reach £58�6m – an impressive 9�4% increase on the preceding 12 months� These successes reinforce the fact that as an organisation Anthony Nolan is robust, progressive and constantly evolving – and over the period of the past strategy has been able to turn the following challenges into opportunities�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~10~~

These factors have had, and will continue to have, an impact on the way we work, how we respond to the needs of our patients, and our relationships with our community� We anticipate that this uncertainty will remain with us for the forthcoming period, providing both risks and opportunities� In 2022/23 therefore we have concentrated on building our resilience to mitigate these risks and maximise any arising opportunities� Progress against our aims throughout 2022/23 is outlined below�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~11~~

Strategic report

Aim 1:

Together, we can provide outstanding services for patients and the clinical community

Anthony Nolan’s work is centred around finding the best possible donor matches for patients, giving them the best possible chance of survival, and the highest standard of support throughout their transplant journey. To achieve this aim, collaboration with patients and the clinical community has been vital. We must truly understand their needs to co-design and fund services that fill gaps in patient care and reflect best practice.

In 2022/23 we worked hard to explore and support the development of innovative treatments that will give patients more options and better outcomes�

What we achieved in 2022/23:

~~1.~~ Patients received the treatment they needed in the fastest time possible.

Finding matching donors for patients requires complex and time-critical work� We are constantly working on understanding this process to find ways to reduce time to transplant and to improve the quality of matches� We know that matching a patient and donor’s cytomegalovirus (CMV) status is known to improve patient outcomes, therefore this increases the chances of these donors being selected and a successful match for patients being found� Therefore 239,320 of potential donors are now recorded with the additional information of their CMV status, comprising 26�7% of the Anthony Nolan register�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~12~~

At the same time we have continued work to optimise our cord blood collection programme with 2,729 cord blood units collected in the year, of which 2,088 were from parents from a minority ethnic background� Cord blood offers a crucial donor source for people without an unrelated donor match on the register, as the stem cells found in cords can adapt to a wide range of tissue types and are able to tolerate greater levels of mismatch� Therefore, building a bank of potential ‘off the shelf’ treatments for patients remains a priority�

Having the most potential donors available for every patient is crucial to securing the treatment they need so we have continued work to enhance access to the global donor pool� With our partners at the World Marrow Donor Association (WMDA), we are working to develop a seamless ‘search, match and connect’ infrastructure to improve global access to the best quality donors, to ensure that more patients in the UK and across the world can access lifesaving treatments� Further to this, we continued working on our India Project, an initiative to expand our partnership with the DATRI register in India� The project ultimately supports our ambitions to increase the availability and diversity of cells internationally, however progress was temporarily stalled due to capacity constraints� This work has now restarted and will continue into 2023/24� Closer to home, our ASPIRE project – a project which aims to transform communication between Anthony Nolan and the UK transplant community, to improve the end-to-end process of providing matching donors and cord blood units for patients in need – has also progressed over the year� While the financial year started off well, we recognised we weren’t making the progress that we should, therefore re-set our approach and extended the timelines slightly to ensure delivery is as effective and efficient as possible�

~~2.~~ More patients received the care they needed throughout their transplant journey.

We know that patients undergoing a stem cell transplant need tailored support to deal with the unique challenges they face throughout their transplant journey� From helping to manage physical side-effects to providing psychological support, we worked hard to provide the care and support patients need�

Anthony Nolan’s model of funding Clinical Nurse Specialists (CNS) and Clinical Psychologists (CP) has continued to grow and over the last year we funded a further four positions in transplant centres in Newcastle, Birmingham, Manchester and Leeds, bringing us to a total of eight posts currently being funded� The benefits of these posts are clear for patients, with specialist posts that provide expertise and continuity throughout the patient journey� This has enabled patients to be referred to vital support services more quickly and has demonstrated an improvement in patient care overall� We have also continued with our adopted posts programme covering a range of healthcare professionals in transplant centres, helping to develop new treatment pathways and clinical guidance while improving the experiences of both patients and their families throughout the stem cell transplant journey�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~13~~

We know that stem cell transplants are being offered to more UK adults as a potential cure for sickle cell disease, so the Patient Services team worked collaboratively with stakeholders such as the Sickle Cell Society, patients and healthcare professionals to develop a range of information to help answer patient questions� The development of our sickle cell patient information and resources were praised by the Patient Information Forum, an independent quality assurance organisation, and awarded the PIF TICK, a quality standard for trusted health information� The methodology used to develop these resources through co-creation was particularly praised and we will continue to use this process for the development of our future resources�

The increasing cost of living has affected all of us, but for many of our patients the impact has been catastrophic� The extra costs of keeping warm, travelling to appointments and eating healthy food, coupled with the impact of missing long periods of employment, have presented many of them with additional challenges and worry at a time when focusing on their wellbeing should be a priority� We listened to our patients’ concerns and, in response, launched a Winter Recovery Fund which ran from October 2022 to March 2023� This fund consisted of an additional financial payment of £150 towards heating costs and was paid alongside the Anthony Nolan Grant of £250 which is available to help with unexpected costs associated with undergoing a stem cell transplant� During 2022/23 we were able to help 186 patients and families with this additional payment on top of the 385 individual grants we awarded� This meant that overall we were able to offer grants totalling £118,848 to help our patients when they needed it most�

~~3.~~ We supported the development and expansion of innovative treatments for patients.

Novel cell therapies, such as CAR-T therapy, where a patient’s own immune cells are collected and modified to fight cancer cells, can be used to treat a range of conditions including blood cancer and blood disorders� We are using our expertise, reputation, and infrastructure to support the development and delivery of these new treatments�

We are beginning to see the impact of this work, as Great Ormond Street Hospital (GOSH) recently published data on an allogenic CAR-T product in children with non-responsive leukaemia� While more work is needed to perfect the platform and maximise the impact on patients, four of the six patients had a response and two remained in remission post-transplant� These cells were sourced through the Anthony Nolan Cell and Gene Therapy Service and are a great example of what we are aiming to achieve by leveraging our knowledge and capability to help accelerate the development and delivery of advanced therapies to patients in need� A particular challenge in this area is that the cell therapy landscape is complex, and rapidly changing, growing and developing� The pace of advancements in the sector means that regulations are also continuously evolving and approval timelines are hard to predict� This makes it difficult to plan resource and accurately project forecasts� We will continue this work into the future and this will be one of the three areas of focus in our new strategy�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~14~~

Strategic report

Aim 2:

Together, we can drive lifesaving research and turn it into action for patients

Our research has had a profound effect on patients’ lives. But we know we have so much more to discover.

We aspire to be pioneers in identifying the full range of factors that influence the success of stem cell transplants and to be drivers of change by ensuring patients have access to the benefits of research sooner. To achieve this, we work in partnership with the clinical community and with patients to ensure our research reflects their needs and ambitions. In our strategy, we set out what we wanted the future to look like for our patients:

What we achieved in 2022/2023:

~~1.~~ Understanding more about the factors that influence the success of the transplant.

Throughout 2022/23 much of our research has continued to focus on the role of genetic factors in outcomes of transplants, in collaboration with other groups and researchers worldwide, so that better matches can be found for more patients� As part of this, over the past year our Anthony Nolan Research Institute has made advancements in our Human Leukocyte Antigens (HLA) class II typing work, thanks to our PacBio Sequel System� This enables us to multiplex genes and samples to a higher level which will improve the usability and efficiency in day-to-day processes and will ultimately help us to improve transplant outcomes for patients�

As part of our commitment to understanding more about the causes of inequity in access to, experience of, and outcomes from transplant, we carried out a joint research project on ethnicity and outcomes with the British Society of Blood and Marrow Transplant and Cellular Therapy (BSBMTCT) over the past year� This research – the first of its kind in the UK – aims to analyse differences in clinical outcomes between patients from different ethnic groups� The research has been recognised and has been presented at the European Bone Marrow Transplant (EBMT) conference in Paris�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~15~~

This year we have also focused on broadening our research agenda ‘beyond the match’ to understand other factors that may influence transplant outcomes� One example of this is the launch of PrEQoL in March 2023, a prospective longitudinal study which is piloting the collection of socioeconomic and quality of life data among stem cell transplant recipients using an electronic data capture system hosted by Anthony Nolan� This new study will improve understanding about the impact of social determinants of health (including age, gender, ethnicity, and deprivation) on patient quality of life and wellbeing� Results from the PrEQoL study will be used to inform a larger study which will aim to collect socioeconomic and quality of life data from over 1,000 transplant patients� This research will help us better understand the impact of social determinants on patient outcomes and inform how we can best adapt our services and support to meet the needs of patients, although we are unlikely to see the results of this for a few years�

Further to this, we have received confirmation of funding from the National Institute of Health Research (NIHR) for a project to expand our partnership with the DATRI register in India� The project will focus initially on analysing DATRI registry data to understand the benefits of supporting donor recruitment in particular regions, contributing to our ambitions to increase the availability and diversity of cells internationally�

This year our Research Data Manager Pilot completed, and demonstrated how additional, on-the-ground support can improve access to up-to-date and accurate outcomes data, enabling us to further advance the field of donor selection and enabling high quality research around outcomes� The evidence from this pilot will be used to make a sustainable case for change into the future�

~~2.~~ More transplant patients participating in clinical trials, and the findings from these studies will improve treatment and care.

We continued to play a role in ensuring more patients can participate in clinical trials to help improve the future of treatment and care� The Accelerating Clinical Trials (ACT) initiative, which establishes a financially sustainable model for the design and delivery of new transplant and blood cancer clinical trials, has now launched� Anthony Nolan will invest in this initiative and will have a role in its strategic oversight� This is a continuation of our role and investment in the IMPACT initiative, with a different and more sustainable delivery model�

~~3.~~ ANRI as a leading, action-focused platform for patients and the clinical research community.

Research has played a vital role in the history of our organisation, but there is still much more that needs to be done� We have therefore developed a new research strategy to build on our achievements to date and facilitate further advancements that will give patients the best chance to survive and thrive� This new research strategy was developed through consultation with an external panel of scientists, clinicians, and academics, as well as patients and donors� This strategy will align and underpin our new organisational strategy for the next five years�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~16~~

Strategic report

Aim 3:

Together, we can harness the collective power of our supporters to champion and enable our lifesaving work

Together, we are at our most powerful. Working with our community of patients, families, donors, volunteers, and employees we can achieve far more than we could alone. That is why it is important for more people to know about Anthony Nolan, believe in the impact we are making, and have the opportunity to get involved in a meaningful way. The more people who are involved, the more lives we can save .

What we achieved in 2022/23:

~~1.~~ More people know about Anthony Nolan and are involved in our lifesaving work

We have been working hard to raise awareness of Anthony Nolan and our work, to inspire a more diverse group of people to join our community of supporters, to expand our reach across audiences, and to build stronger partnerships�

Increasing brand awareness, motivating more people to donate, and improving engagement with, and understanding of, our work is key to growing our community of supporters� Our average overall brand awareness for 2022/23 was just under 50% which is slightly lower than target, particularly with some of our key audiences� This is a combination of our brand not resonating well with some of our audiences and not investing in brand activity over this period� In response to this, over the last year, alongside developing our new strategy, we have been working to understand the implications of our long-term direction on our brand and how it needs to develop in order to support our future aims�

We continued to grow our audience-focused marketing plans across Patient Services and with business-to-business (B2B) stakeholders� For example, our Patient Services Roadshow reached over 75 healthcare professionals at 10 hospitals, alongside a study day for 25 healthcare professionals from nine transplant centres� This has resulted in marked increases in engagement with patients and families, support referrals, the number of grants awarded, and the volume of patient information being shared by healthcare professionals�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~17~~

Patient-donor stories and appeals continue to drive high profile/volume of media coverage in print and broadcast, accounting for around 50% of all coverage� We have established significant national media success with our cord blood programme, driven by celebrity ambassador Kellie Shirley, and continue to develop strong organic celebrity relationships through personal patient engagement� We also launched our Youth Panel, aiming to ensure that young people – the target audience for much of our activity – have a voice in shaping our decision-making and ways of working� As this is the first panel we have established for this audience, our knowledge and understanding of how to make this as effective as possible is constantly evolving, and we will apply the learning from this to future work�

~~2.~~ More potential lifesavers have joined our register.

Throughout the year we continued to work towards developing a register that meets the current and future needs of patients in terms of size, quality, typing, and composition� This includes a focus on recruiting young men and people from a minority ethnic background�

The Anthony Nolan stem cell register grew to an incredible 895,794 potential stem cell donors by year end, with 37,480 people aged 16 to 30 joining in 2022/23� There was a balanced spread across our recruitment channels, with online sign-ups accounting for 50% of the total at the end of the year and 50% recruited in person at our 763 recruitment drives� Our in-year recruitment was slightly below our original target for the year due to a number of challenges including a need to rebuild networks post pandemic� The digital marketing space has also been an increasingly difficult space for online recruitment with market saturation and privacy changes� This has resulted in a reduction in numbers we have been able to recruit to the register online�

We targeted young people, as they provide better outcomes for patients, through our school and university (Marrow) programmes as well as through targeted activity online, with our Marrow groups recruiting 7,036 to the register in year� We also focused on recruitment of people from minority ethnic backgrounds� To increase the diversity on our register, we have worked closely with partners, such as the African Caribbean Leukaemia Trust (ACLT), championed patient appeals and held targeted recruitment events which resulted in 23% of our new potential donors recruited being from minority ethnic backgrounds� This is our biggest percentage of people from minority ethnic backgrounds to date� Recruitment partners such as the Sue Harris Trust have been vital to this growth, leading campaigns such as the Israel campaign and Jewish Swab Week which supported the recruitment of over 500 potential donors from Jewish backgrounds to the register� Increasing donor diversity and availability on our register is part of our multi-faceted approach to improving outcomes for all patients� The Scottish Fire and Rescue Service (SFRS) continues to be an incredible ambassador for Anthony Nolan and has played a huge part in not only recruiting new potential lifesavers to the register, but celebrated finding their 100th donor this year too� More on the continued success of that partnership can be found on page 47 �

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~18~~

~~3.~~ Increased fundraising through diverse channels

This year our voluntary income remained stable with our incredible supporters giving £8�7m to save and improve patients’ lives� The fundraising landscape continues to be challenging� Set against a backdrop of a rising cost of living, we are incredibly grateful for the generosity and commitment to others our supporters show�

We welcomed 2,500 new regular givers this year, who have committed to making monthly donations, against an initial target of 2,000� Together, all of our supporters who donate monthly gave over £3�2m this year� Thousands of supporters took part in events or organised their own fundraising activities this year, as we enjoyed a full return to in-person activities alongside virtual options, raising over £2�4m� We continued to test ways of sharing information with people about how they could support patients of the future with a gift in their Will and we thank everyone who has made the decision to leave this incredible legacy�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~19~~

Strategic report

Aim 4:

Together, we can be a stronger voice for patients to ensure they get the best possible care

We want to drive real and sustainable policy and practice change through our influencing work, so over the last year we have continued to lobby and campaign to ensure that patients’ voices are heard. Using the insight we gained through our lifesaving work and research on the experiences and challenges faced by patients, we hope to change policy and practice, for the benefit of all patients.

What we achieved in 2022/23

~~1.~~ Increased awareness and understanding of our work and its impact.

We continued our influencing work and engagement with parliamentarians and recruitment partners through our annual Communities vs Blood Cancer events in Westminster and Holyrood� We had more than 100 parliamentarians giving their support and backing our calls to diversify the stem cell register� The First Minister backed the campaign in the Scottish Parliament, emphasising the importance of recruiting young people from diverse backgrounds to be stem cell donors�

As Secretariat to the UK Stem Cell Strategic Forum (UKSCSF) we published a comprehensive report including recommendations to deliver a resilient and sustainable cellular therapy sector over the next decade� The report received positive feedback from the Department of Health and Social Care (DHSC) and external stakeholders�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~20~~

~~2.~~ Securing tangible changes to policy and practice.

We organised the first All Party Parliamentary Group (APPG) meeting focused on the opportunities for patients and the UK research landscape through the adoption and delivery of advanced cell therapies such as CAR-T cell therapy� By building relationships with policymakers in the NHS, providers and industry we are building our ability to influence a more supportive treatment and care environment in new areas of cell therapy� We also continued to advocate for supportive policy in the wake of the pandemic, securing commitments from NHS England, the UK Health Security Agency and the DHSC to ensure that the needs of stem cell transplant and CAR-T patients would be considered in the ongoing roll-out of COVID-19 vaccine and treatment schemes�

~~3.~~ Using our expertise and voice to advocate for, protect, and promote, the interests of patients.

We have continued to successfully advocate for patients' access to medicines through NICE appraisals� As part of this process, we consulted clinicians, and patients and their families; representing their views to make sure NICE’s decisions were well-informed� These representations make a critical difference to treatments being approved for routine use via the NHS and are vital in helping patients access the best treatment options� Together with the BSBMTCT we pushed for the approval of the Shingrix vaccine for stem cell transplant patients to protect them against shingles, alongside other routine vaccinations which are so important post-transplant�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~21~~

Strategic report

Aim 5:

Together, we can

Our strategy is not just about what we want to achieve, it is also about how we will achieve it as one Anthony Nolan team, working together. We continue to work smartly, using the right tools to do our jobs and live our five values of being accountable, passionate, patient-focused, innovative, and improving every day.

What we achieved in 2022/23

~~1.~~ Becoming a more patient-centred organisation, embedding patient and public involvement in every aspect of our work.

We have continued to embed active patient involvement into our work to ensure we are meeting the needs of our patients and improving decision making� A lack of dedicated resource impacted the pace of progress in this area, so this year we recruited a Head of Patient Involvement to develop a robust framework to guide this work throughout 2023� Further strengthening this approach will be a crucial foundation of our new strategy� Alongside this we are developing our approach to involving our broader community, one example of which is the establishment of a youth panel, aiming to ensure that young people – the target audience for much of our activity – have a voice in shaping our decision-making and ways of working�

~~2.~~ Diversification and growth of our income streams to achieve value for money in all that we do.

This has included providing products and services that contribute to the development of new treatments through our Cell & Gene Therapy Services and building capacity in our laboratories to offer our typing services to industry partners� All of this work is governed by a robust ethical, regulatory, and quality framework, and we ensure that all profits go back into our lifesaving work�

This is alongside a continued focus on increasing our fundraising income, particularly following the changes to the fundraising landscape following COVID-19� A core part of this has been strengthening our relationships and partnership management with the extension of existing partnerships including the RSM UK Foundation, The Jack Petchey Foundation and the David and Ruth Lewis Family Charitable Trust and support from new organisations including: The Frances & Augustus Newman Foundation and TD Securities� This is supported by our private sites regular giving recruitment, and fundraising events such as the London Marathon and the Great North Run�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~22~~

~~3.~~ Strengthening the culture, structures, and capabilities necessary to achieve our ambitions.

Our people are our greatest assets and we have continued to establish and strengthen the culture, structure and capabilities necessary to achieve our ambitions� Reflecting our commitment to providing high-quality learning and development opportunities for colleagues, we have procured a new Learning Management System which will consolidate all of our online learning into one interactive and user-friendly platform� It allows user-generated content, and will support us to continuously assess the skills we have in the organisation and identify where there may be gaps, so that learning needs can quickly be identified and met� This will be rolled out in FY 2023/24� Alongside this we launched our wellbeing programme, Thrive, which provides a wealth of resources to support colleagues’ mental, physical and financial health� We have also amplified our employee voice through our Hive digital engagement platform� Our most recent employee survey was well-received with high engagement and responses will be used to inform the development of our People Strategy, which is currently in progress� This will be aligned to, and support the delivery of, our new organisational strategy – Unlocking new ways to treat every patient �

Our ethos at Anthony Nolan is that equity, diversity and inclusion should be embedded in everything we do� To underline this commitment in FY 2022/23 we recruited an Equity, Diversity and Inclusion (EDI) team who lead EDI-related activities and initiatives across the organisation� The team has focused on scoping and developing a new EDI strategy, with plans to launch in FY 2023/24� Alongside this we have continued to deliver various initiatives to support this goal including relaunching our Inclusion Champions network, consisting of colleagues from across the organisation sharing ideas on how Anthony Nolan can embrace diversity and become an even more inclusive workplace� Further to this we have continued to hold spotlight webinars on EDI-related topics throughout the year, sought feedback from colleagues and analysed the data available to ensure we are responding to the needs of everyone within our organisation� We have also introduced a flexible public holidays policy, aimed at being more inclusive and enabling employees to celebrate the holidays of their choosing with friends and family�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~23~~

~~4.~~ Harnessing technology and the opportunities of digital to improve efficiency, engagement, and experience.

Our dedicated technology team has ensured our infrastructure and technology remains scalable, secure, accessible, and cloud-based so that our systems are always up to date and our patient and donor data is kept secure� This year, we have worked to decommission previous systems, and implement new ones that enable colleagues and outside parties to collaborate, whether working from home or at one of our sites across the UK� We have also migrated our data architecture to a cloud-based platform, to offer greater capacity for more individuals to benefit from the power of these tools� This will enable us to effectively gather and analyse high quality data to inform decisions now and in the future�

Further to this, on-going digital transformation projects have continued to progress to enable us to keep growing and innovating, including:

We have experienced some challenges in delivering change initiatives of this scale alongside our day-to-day work� We are therefore reviewing how we scope, plan and deliver future change initiatives to ensure we can anticipate any capacity risks in advance�

~~5.~~ Generating better quality data and translating it into insights

and evidence.

Data is a crucial enabler of our work, and will continue to be throughout our new strategy� Over the last year we have been working to implement the UKSCSF’s recommendation to build a transformational data model for stem cell transplantation and advanced cellular therapies� Together with representatives from the wider clinical community, we organised the second of two multi-sector workshops to help us accelerate improvements to the breadth of data on stem cell transplantation� Further to this, our work to improve stem cell transplant data continues in partnership with clinicians, the BSBMTCT and NHS Blood and Transplant (NHSBT)�

Over 2022/23 we have worked to migrate our data analysis function to a cloud-based platform to offer greater capacity for more individuals to benefit from the power of these tools� This change took significant time and resource from teams across the organisation, which impacted our ability to make significant data informed progress in other areas� Overall, this migration will enable more colleagues to access, and act on, insights drawn from our data to feed into evidence-based decisions�

~~6.~~ Strengthening connections and forging partnerships.

We know that we cannot achieve the impact we set out to alone, therefore we have continued to develop partnerships across all of our work, as outlined in the report above�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~24~~

Strategic report

Looking to the future: Our new organisational strategy and refreshing our brand

Over the past year we have developed our new organisational strategy for 2023–2028 Unlocking new ways to treat every patient .

Through analysis of our operating environment, we acknowledged the considerable volatility, uncertainty, complexity, and ambiguity we are working in, and considered what this means for both our work as an organisation and how we go about developing and implementing a new strategy� Our new strategy – Unlocking new ways to treat every patient – reflects the key drivers in our environment: the dynamic treatment landscape; changes in the NHS and healthcare policy and practice; inequities in access, experience and outcomes of healthcare; and the power of data and digital technology� We have intentionally developed a strategy that can be adaptive and responsive, providing us with a streamlined framework to support the planning and delivery of our work over the next five years� This means we will be able to quickly adapt our plans to reflect changes in our operating environment and maximise opportunities as they emerge�

The new strategy has been developed by the SLT with Trustees, our leadership forum and involvement from our patients, donors, colleagues, the clinical and research community and other partners� It focuses on three fundamental problems we are here to help solve, and the impact we want to see against these� They include:

~~1.~~ Survival: Too many patients don’t survive, and for those who do, quality of life can be damaged in the short and long term� We want more patients to receive a transplant, more patients to survive their transplant and more patients to have a good quality of life afterwards�

~~2.~~ Equity: Too many patients don’t have access to the treatment and care they need, and some face worse experiences and poorer outcomes because of their circumstances and backgrounds� We want all patients to have equitable access to the treatment that gives them the best possible chance of survival, and support that provides the best quality of life�

~~3.~~ Progress: Treatment options for many patients are limited and new treatments take a long time to develop and approve� We want new cell treatments that offer an alternative or bridge to transplant developed and approved in the fastest time possible, and available to all patients who need them�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~25~~

We identified three powerful tools in our new strategy which run through all aspects of our work, highlighting those areas where investment is essential in order to create the impact we want to see:

This strategy underlines our determination to unite science and people more closely, so we can push the boundaries of what we can achieve for more patients� These ambitions, supported by an impact framework to measure our progress, will drive and guide our work over the next five years so more patients have successful transplants, everyone gets the best possible treatment and support regardless of background, ethnicity or circumstance, and new cell therapies can become available for all patients who can benefit from them more quickly�

Alongside developing our new strategy, we have been working to understand the implications of our long-term direction on our brand� Since our last brand refresh in 2011, the scope of what we do has broadened significantly and alongside the launch of our new strategy, this provides an opportunity to revisit our brand to ensure it resonates with our target audiences� We have therefore worked on developing a brand strategy to articulate clearly and explicitly who we are, why we exist and what we aim to do next� This will feed into a refresh of our brand, to be undertaken in FY 2023/24�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~26~~

Financial review

Economic and political uncertainty has continued over this last financial year, with the war in Ukraine, energy price increases, the rising cost of living, and staffing and funding challenges in the NHS. Anthony Nolan has continued to demonstrate resilience and sustainability, ensuring that we can help more patients.

Our crucial income streams, around donor transplantation, fundraising, cell and gene therapy, and laboratory services, have all developed and grown. The charity has remained at the forefront of scientific developments, enabling us to actively manage the changing landscape in healthcare, and maintain the engagement of our supporters, in a year where there has been a challenging fundraising environment. Throughout, Anthony Nolan has been able to maintain reserve levels within our agreed policy.

The Board considers it prudent to hold a higher level of optimal free reserves (above £8m) in the short-term and continues to work with the Strategic Leadership Team to review reserves regularly� In particular, financial year 2023/24 will be a year of continued investment and growth as we build on our foundations and start to deliver on our new and ambitious five-year organisational strategy�

In the year facilitated transplant donor provisions have increased by 29 (2%) to 1,451 in 2022/23 (2021/22: 1,422) and we have added a further 37,482 potential lifesavers to our stem cell register in 2022/23 (2021/22: 41,202)�

We continued to develop our cell and gene therapy and laboratory service offering by diversifying and expanding our portfolio of products and services� We also continued to invest more in our patient services, data and digital footprint, and research work, all of which further supports our aims of improving patient outcomes and saving more lives�

Information on principal risks and uncertainties can be found on page 52 �

In summary, net income and total funds for the year are in deficit at £(1�5)m (2021/22: surplus £0�5m)� Free reserves (general funds after excluding the net book value of fixed assets) decreased from £10�2m to £9�1m after continued investment in the operational structure of the charity and in particular in data and digital technology, with the Transform and ASPIRE projects being an investment of £1�0m in combination for 2022/23�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~27~~

Financial review

How we funded our work

Without vital funds, our lifesaving work wouldn’t be possible. Below details what we raised and spent to save more patients’ lives.

What we received

----- Start of picture text -----
£58.6m
Total income raised
(2022–23)
----- End of picture text -----

----- Start of picture text -----
83%
Provision of stem cells
15%
Donations and legacies
2%
Research
----- End of picture text -----

----- Start of picture text -----
What we have spent
£60.1m
Total expenditure
(2022–23)
----- End of picture text -----

82% Provision of stem cells, growing our register and patient support 7% Investing in raising more through fundraising 6% Raising awareness

5% Research

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~28~~

Income and expenditure

Total income was £58�6m, an increase in the year of £5�0m (9�4%)� Donor provision fees continued to be the main source of income for the charity, raising £48�7m (2021/22: £43�8m)� The number of facilitated donor transplants increased by 2% in total and noticeably for export purposes, as a direct consequence of the continued recovery from the COVID-19 pandemic� Gross voluntary income decreased marginally to £8�7m (2021/22: £9�0m) due to lower levels of supporter-led fundraising and individual donations� Net voluntary income decreased to £4�5m from £5�5m, as the return from supporter-led fundraising reduced� We raised a further £57,000 from fundraising activities through our trading subsidiary Anthony Nolan Trading Limited (ANTL), making the total fundraising income £8�8m (2021/22: £9�0m)� Total income through ANTL was £118,000 (2021/22: £89,000)� In total our trading subsidiary generated operating profits of £26,000 (2021/22: £9,000) all of which were distributed to the charity in the year�

Total expenditure was £60�1m, an increase of £7�1m (13�4%) from the previous year� Expenditure to raise donations and legacies increased to £4�2m (2021/22: £3�6m), and expenditure also increased on charitable activities to £55�9m (2021/22: £49�4m)� Within charitable activities, £49�0m was spent on donor provisions and giving a chance of life to patients, £3�7m was spent on research, and a further £3�2m on education and awareness events that support our donor recruitment, campaigning, and fundraising activities�

Included in total expenditure are support costs of £11�6m (2021/22: £9�6m)�

Reserves Policy

Anthony Nolan’s reserves policy is to make suitable investment in the ongoing development of the charity, while maintaining adequate funds to deal with current and medium-term needs and having the necessary provision to deal with unforeseen circumstances� The Trustees have determined that the optimal level for free reserves is between £8m and £12m and that, in the medium term, free reserves should be managed in order to reach this level by taking account of the following:

Reserves are maintained at a level that enables Anthony Nolan to manage financial risk and short-term income volatility�

Free reserves at year end are £9�1m (2021/22: £10�2m), which sits within the target free reserves level� The general fund of £12�8m (2021/22: £14�2m) reflects free reserves and the net book value of tangible fixed assets at £3�7m (2020/21: £4�0m)�

We have also contributed £0�1m as continued support for the IMPACT clinical trials initiative in 2022/23�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~29~~

Going Concern

The Trustees have reviewed the group’s and the charity’s financial forecasts throughout FY 2022/23 and into future years, covering a period that exceeds 12 months from the date of signing these financial statements�

With the preparation and launch of a new ambitious five-year organisational strategy Unlocking new ways to treat every patient in April 2023, the Trustees also reviewed a five-year Financial Forecast for the charity� The strategic plan is to broaden our cellular therapy activities, with income growth of circa 8% anticipated for FY 2023/24, with a break-even EBITDA position� Future years predict further selective investment in resources to grow our income, treat and cure more patients, so that by FY 2027/28 we envisage the income for the charity would be +£70m pa� Reserves and cash would lie healthily within the £8m–£12m banding of the reserves policy�

This new strategy aims to ensure more patients will have successful transplants, everyone gets the best possible treatment and support regardless of ethnicity or circumstance and more new therapies are available for patients more quickly�

As we unite science and people more closely, we will unlock the cures, treatments and transplants that will transform the future for more patients� The keys to unlocking our ambition are pioneering research and evidencebased influencing, data that gives us powerful insight, and donors whose incredible generosity is saving and improving lives today and in the future�

These will drive us towards our new vision of a future where every patient who needs us can survive and thrive�

The Strategic Leadership Team have acted to address operational efficiencies and the cost base, with the ever present economic headwinds, to ensure the best use of charitable funds�

An unsecured overdraft facility of £2m remains in place from March 2021 with Barclays Bank� Cash reserves are currently being held to ensure the necessary liquidity for continued operational investment, £2m of cash reserves are being held under short-term deposits�

There has been an increase in debtors this year due to the slow down in payments from the NHS, cash impact £2�9m� With scenario planning predictions based on estimated levels of income and expenditure, the Trustees are satisfied that the charity has adequate resources to continue in operation for the period to 31 March 2025�

Trustees have also considered there are no material uncertainties in the operating environment� Accordingly, the going concern basis has been used in preparing these financial statements�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~30~~

Restricted reserves

Restricted reserves for 2022/23 have reduced by £0�2m to £1�0m (2021/22:£1�2m)� The income received, in the year, was matched against expenditure in the Donor Campaign and Processing fund, the Research Projects Fund and the Scientific Research Fund� We received additional income, £0�2m for The Transplant Services Improvement fund (the ASPIRE project) with an annual spend of £0�5m to fully use this restricted fund by the financial year end� An additional restricted reserves was created of £0�1m for The Laboratory Equipment Fund following a kind donation from the David and Ruth Lewis Family Charitable Trust� We also spent £0�2m on the Patient Experience Fund and £0�2m on the Donor Provision Fund, during the year with income receipts in the year of £0�3m and £0�1m respectively for these two other restricted funds�

Designated funds

The are no designated funds allocated in 2022/23 (2020/21 £0�0m)�

The Trustees regularly review the appropriate level of the charity’s reserves with the Strategic Leadership Team�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~31~~

Section 172 Statement

The Board is required to report on how its decision-making has aligned with its duty to promote the success of the charity in accordance with section 172 of the Companies Act 2006.

The Board is required by law to take regard to the following factors in any decision-making process:

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~32~~

Stakeholders

The following details our key stakeholder groups and how we support and engage with them� Understanding who our stakeholders are ensures that Board discussions consider the potential impact of our decisions on each stakeholder group along with their needs and concerns�

External stakeholders

Patients

Key considerations:

How we engage:

Outcomes and long-term objectives:

Clients and partners – cell and gene therapy.

Clients and partners – cell and gene therapy. Clients and partners – cell and gene therapy. Clients and partners – cell and gene therapy.
Key considerations:
■
Increasing treatment options
for patients, so that the best
possible treatment can
be given�
■
Improving quality of life�
■
Ensuring therapies are
accessible to patients who
need them�
■
Strengthening our reputation
in the feld to ensure we have
a voice to advocate for
patients and donors�		 How we engage:
■
Provision of services to
researchers, developers and
manufacturers of cell and
gene therapies including:
■
Facilitating collection and
delivery of donor cellular
material for research,
development and
clinical application�
■
Providing histocompatibility
and immunogenetics (H&I)
services such as Human
Leukocyte Antigens
(HLA) typing�
■
Providing cryopreservation
services�		 Outcomes and long-term objectives:
■
To facilitate robust and ethical
research contributing to
development of new cell and
gene therapies�
■
Utilising cord donations that
are not ‘clinical grade’ to
support and advance
biomedical research�
■
Supporting the cell and gene
therapy manufacturing phase,
enabling therapies to become
accessible and available in
the UK�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~33~~

External stakeholders (continued)

Clients and partners – transplant centres and international registries

Clients and partners – transplant centres and international registries Clients and partners – transplant centres and international registries Clients and partners – transplant centres and international registries
Key considerations:
■
Improving the range, quality,
and efciency of services
that are provided to
transplant centres and
international registries�
■
Improving the clinical impact
on the transplant community�		 How we engage:
■
ASPIRE improvement
programme and delivery of
AN Connect with transplant
centres to improve
communication�
■
Regular meetings with Graft
Identifcation Advisory Service
(GIAS) centres to review
service delivery, and feedback�
■
Collaboration with
international registries via
active participation in the
World Marrow Donor
Association�
■
Tailored educational sessions
and a programme of meetings
(Graft Search and Selection
Workshop (GSSW), Clinical
Retreat etc)�
■
Involvement in the writing
of national guidelines
for Donor Selection in
Hematopoietic stem cell
transplantation (HSCT)�		 Outcomes and long-term objectives:
■
A suite of services used and
valued by customers�
■
Streamlined operations,
reducing the time clinicians
need to spend on
administrative tasks�
■
Engagement that leads
directly to improvements
to our service�
■
Increased use of Anthony
Nolan donors by responding
to customer needs�
■
Improved response to our
transplant centre needs
as a result of strong
working relationships�

Donors – recruiting new people to the stem cell register

Donors – recruiting new people to the stem cell register Donors – recruiting new people to the stem cell register Donors – recruiting new people to the stem cell register
Key considerations:
■
Recruiting young people
provides better outcomes
for patients�
■
Targeting a male audience
who are more likely to be
chosen to donate�
■
Increasing the amount of
potential donors from minority
ethnic backgrounds�		 How we engage:
■
Recruitment events through
university groups, schools,
colleges delivered by
volunteers, volunteer groups
and recruitment partners�
■
Patient appeals, reactive and
proactive press and both
organic and paid social
media campaigns�
■
Investment in key community
partnerships to enable access
to under-represented
communities�		 Outcomes and long-term objectives:
■
To continue to apply insights
to develop and deliver a
recruitment and retention
strategy that will enable us to
meet patient need both now
and in the future�
■
Support for our equity of
outcomes work with targeted
recruitment eforts based on
patient need�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~34~~

External stakeholders (continued)

Donors – potential stem cell donors currently on our register

Donors – potential stem cell donors currently on our register Donors – potential stem cell donors currently on our register Donors – potential stem cell donors currently on our register
Key considerations:
■
Recruiting committed and
engaged potential donors�
■
Maintaining accurate contact
and medical information�
■
Maintaining donor
engagement during their
duration on the register�
■
Using data rich insight into the
genetic variation seen within
the UK donor registry to help
target register enrichment
activity accordingly�		 How we engage:
■
Targeted retention
campaigns to specifc
cohorts of the register to
educate and engage�
■
Efective communication to
keep potential donor contact
details up to date�
■
Programmes of enrichment to
improve data on target donors
(eg, recording CMV status)�
■
Marketing emails providing the
opportunity to become more
involved with all aspects of
Anthony Nolan’s work�
■
Dedicated support and
communications for donor’s
frst year on the register�		 Outcomes and long-term objectives:
■
To maintain a register of
quality potential donors
who are contactable, engaged,
and committed�
■
To improve availability of
potential donors when they
may be needed by a patient�
■
To grow our register of quality
potential donors to meet
current and future patient
need in terms of size, quality,
typing, and composition�

Donors – stem cell donors who are donating or have donated

Donors – stem cell donors who are donating or have donated Donors – stem cell donors who are donating or have donated Donors – stem cell donors who are donating or have donated
Key considerations:
■
Supporting donors throughout
the donation process�
■
Ensuring that selected donors
have the necessary
information so that they can
make an informed decision
about donation�
■
Following up on donors who
have donated, to ensure they
recover as expected,
physically and psychologically�		 How we engage:
■
Direct communication and
support throughout the
verifcation typing and
donation process�
■
Medical assessment and
consent at our contracted
collection centres�
■
Follow up post-donation in
line with World Marrow Donor
Association standards�
■
Post-donation panels
where donors help us
shape donor experience�		 Outcomes and long-term objectives:
■
Stem cell products available
for patients in the UK and
worldwide, donated by
informed and supported
donors, whose rights and
safety are protected�
■
A positive and supportive
donor experience that is
seamless and tailored to
their needs�

Financial supporters – fundraising

Financial supporters – fundraising Financial supporters – fundraising Financial supporters – fundraising
Key considerations:
■
Ensuring that our fnancial
supporters understand the
need for their support and the
impact of their contribution�
■
Making sure all fnancial
supporters feel valued
and appreciated�
■
Fundraising activities are
compliant with relevant
regulations and laws�		 How we engage:
■
Email, phone and written
communications (mass and
direct and through
telemarketing agency)�
■
In person conversations
including recruitment at
private sites, fundraising
events, and at meetings
with supporters�
■
Advertising (digital and print)�
■
Online events and webinars�		 Outcomes and long-term objectives:
■
Retain supporters and inspire
them to continue their support
and involvement�
■
Attract new
fnancial supporters�
■
Develop and grow our support
from high value supporters,
and through partnerships�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~35~~

External stakeholders (continued)

Policy decision-makers

Regulators

Key considerations: How we engage: Outcomes and long-term objectives:

Strategic partners (professional bodies, recruitment partners, and aligned registry partners)

Strategic partners (professional bodies, recruitment partners, and aligned registry partners) Strategic partners (professional bodies, recruitment partners, and aligned registry partners) Strategic partners (professional bodies, recruitment partners, and aligned registry partners)
Key considerations:
■
Identifying our aligned
strategic priorities with
partner organisations to
maximise impact and infuence
for patients�
■
Strengthening our
representation and presence
across the haematopoietic
stem cell transplant
(HSCT-CT) community and
wider key demographics�
■
Combining resources and
funding to deliver strategic
projects, and/or to secure
signifcant external funding
for capital or strategic
investments for our
community�
■
Grow our community’s voice
within the wider health
landscape and policy-making
agendas, to advance our
position in health service
planning and public
funding priorities�		 How we engage:
■
Meet regularly to discuss
operational matters and
delivery on agreed objectives�
■
Form strategic
partnerships based on
agreed objectives that can
improve an operational area
such as clinical outcomes
data collection�
■
Support wider strategic
initiatives that deliver policy-
led impact for patients and the
wider community�
■
Investment in key
community partnerships to
build strong and lasting
relationships with under-
represented communities
on the donor register and
patient communities�		 Outcomes and long-term objectives:
■
To improve HSCT-CT data
applications to support
service improvements and
research opportunities�
■
To build trust and confdence
with under-represented
communities, to deliver a more
equitable treatment
experience for every patient,
and continue to grow donor
registry representation�
■
To position ourselves in
strategically advantageous
relationships with key
stakeholders at all levels
of our community�
■
Ensure fnancial sustainability
and access to the latest
licensed treatments�
■
Maintain our role as a key
strategic partner within the
HSCT-CT community, and
externally, as a leading voice
for transplantation and
advanced cellular therapies�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~36~~

External stakeholders (continued)

Suppliers

Key considerations:

How we engage:

Outcomes and long-term objectives:

Internal stakeholders

Employees

Key considerations:

How we engage:

Outcomes and long-term objectives:

Volunteers

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~37~~

Stakeholder risk

In line with our risk management policy and procedures, Anthony Nolan has identified the key risks facing our individual stakeholders� We have in place robust mitigating actions to ensure that the likelihood and impact of any risks to our stakeholders are minimised as much as possible� Our greatest risk lies with our patients� Unfortunately, as they and we are acutely aware, they face the risk of further illness or death post-transplant� Anthony Nolan’s focus is on finding patients the best possible donor match to minimise this risk and we constantly work to improve the outcomes for every one of our patients post-transplant�

In relation to building up our stem cell register, there is a risk that we are unable to attract the most suitable donors or the possibility that our donors have a negative donation experience or are unavailable when called to donate� To mitigate these risks, we provide support throughout the donation process including support to donors post-donation� We also plan to increase the level of support given to those on our register and nurture those relationships so that they are as likely as possible to donate if ever called for and the risk of them not going on to donate is reduced�

As for any organisation, especially one built on the trust of patients and donors, the risk to our reputation is always a concern� We continue to take measures to ensure this risk is mitigated, be it through employees, trustee and volunteer training, due diligence checks on our suppliers and customers, or ensuring the research we support is scientifically sound and ethical�

All of our employees are key to delivering Anthony Nolan’s strategy and many offer unique medical, scientific, or institutional expertise which could pose a risk to the organisation if we were to lose them� We have arrangements in place for succession planning and we constantly strive to ensure that our employees are engaged�

The ongoing legacy of COVID-19, the rising cost of living and global uncertainty have brought the potential risks that external circumstances pose into sharp focus� We mitigate against these risks by ensuring we have strong business continuity plans and specific taskforces that meet as required to monitor situations as they develop and provide ongoing solutions for the organisation� We also make sure that we monitor government guidelines closely and adapt our approach accordingly�

You can read more about our approach to risk management and our principal risks on page 52.

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~38~~

Changes in relationships with stakeholders

Along with most organisations, our relationships and engagement with stakeholders moved from face-to-face to the virtual world during the height of the pandemic� While many aspects of our operations have now returned to pre-COVID-19 practices, the pandemic still has some impact on how we best meet the needs of our stakeholders operationally� We have learnt a great deal from the changes in operation necessary over the last couple of years, and in some cases have embraced new ways of working that have proved beneficial to our patients and organisation overall� In addition, we have adapted our approach to improve relationships with our stakeholders in the following ways:

Key decisions

The Board is responsible for our strategic planning and policymaking� Accordingly, all key decisions, and the future long-term plans for the organisation are referred to and taken by the Board�

By working collaboratively with the SLT and listening to feedback from our many stakeholders and governance structures, the Board is well-positioned to respond to uncertainties and to promote the success of Anthony Nolan�

As explained in more detail under Organisational Structure on page 43 , the three subcommittees of the Board, the Audit and Finance Committee, the Governance and Risk Committee, and the Nominations Committee, support the Board in the administration of the governance of the charity� These subcommittees ensure oversight and best practice� The Board, alongside its delegated subcommittees, made a number of key decisions in 2022/23, each underpinned by the interests of our stakeholders and the wider factors set out in section 172 of the Companies Act 2006�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~39~~

1. New organisational strategy

The decision: To develop and implement an adaptive five-year organisational strategy and to refresh our brand to build on the progress we have made to date, and harness the opportunities presented by the landscape and outlook in healthcare, society and science�

Key considerations:

Impact: More patients will have successful transplants, everyone gets the best possible treatment and support regardless of background, ethnicity or circumstance, and more new therapies are available for patients more quickly�

2. Investment in ASPIRE.

The decision: To invest £1�45m over three years in the ASPIRE improvement project to deliver improved communication and processes between Anthony Nolan and the UK transplant community, resulting in time and effort savings on both sides�

Key considerations:

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~40~~

Impact: The ASPIRE project and the AN Connect portal will transform how we work with UK transplant centres, making the service efficient, easy to use, and providing real-time data from the initial search right through to the provision of a product for the patient� This improvement will give time-savings for both transplant centre and Anthony Nolan employees allowing focus on activity that adds more value for patients� AN Connect will also lay the foundations for how we will work with transplant centres in the future, offering easy access to data and a better understanding of local and national provision activity�

3. Organisational restructure.

The decision: Realignment of the SLT to create two new roles: (1) Chief Engagement Officer and (2) Chief Income Officer�

Key considerations

Impact:

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~41~~

4. Cost-of-living pay increase for employees.

The decision: Following our annual review of salaries in April 2022 when a 3% salary increase was awarded, an additional 2% pay increase from 1 October 2022 and £500 ‘one-off’ unconsolidated payment for all employees was agreed�

Key considerations:

Impact: High satisfaction levels have been experienced and retention remains stable� We continue to monitor and review our approach to the rising cost of living and the impact for our employees�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~42~~

How we operate

Organisational structure

Anthony Nolan is a registered charity and a company limited by guarantee, incorporated in England and Wales� Every member undertakes to contribute an amount not exceeding £1 to the assets of the charity in the event of it being wound up during the period of their membership or within one year thereafter� The members, who are the Trustees, are also the Directors of the charity�

The overall strategic direction of Anthony Nolan is determined by the Board, who meet formally at least six times each year, with Board meetings scheduled bi-monthly� Most Board and Board subcommittee meetings have taken place in person, however there is provision in our Articles of Association for meetings to take place via video conferencing facilities, or using a hybrid model when required, which has been the case on occasion this year� The Trustees are responsible for planning and policymaking and, accordingly, all key decisions are referred to and taken by the Board�

Anthony Nolan has three Board subcommittees� The Audit and Finance Committee enables the Trustees to consider issues on financial strategy and planning, investments, and matters relating to the external audit as well as internal controls in more detail where needed� The Governance and Risk Committee focuses on governance matters, including organisational polices, risk management, and charity governance� The Nominations Committee focusses on Trustee and CEO role requirements, recruitment, and induction�

Both the Audit and Finance Committee and the Governance and Risk Committee meet quarterly in advance of the associated Board meeting� The Nominations Committee meets on an ad hoc basis as and when required and at the request of the Board�

The day-to-day management of Anthony Nolan is entrusted to the Chief Executive and the Strategic Leadership Team, who have delegated authority from the Board to administer the affairs of the charity� The Chief Executive and Strategic Leadership Team are always invited to join the Trustees’ meetings and provide the Trustees with updates on the work and direction of Anthony Nolan�

The Chief Executive and Strategic Leadership Team meet regularly throughout the year to discuss and consider strategic and operational activities as well as review monthly financial and management information�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~43~~

Recruitment, appointment, retirement, election, induction, and training of Trustees

Recruitment and appointment

Appointment to the Board of Trustees is done via an open recruitment process after the needs of the organisation and a range of suitable candidates are considered by the Trustees� The number of trustees can be up to a maximum of 14 but must be greater than three�

Following an evaluation of the skills needed for new Trustees, which took the skill sets and experience of existing Board members, succession planning related to planned Trustee retirement dates, and the future needs of Anthony Nolan into account, the Nominations Committee commenced an open recruitment process in October 2022�

Anthony Nolan is committed to applying values of diversity and inclusion in the widest sense wherever possible� This means that we look for trustees with different backgrounds, careers and life-experience, competencies, professional skills, and diversity of thought� These qualities encourage debate and support our effectiveness, leadership, and decision-making ability to act in the best interests of the charity as well as the wider public interest� Our patients reflect the full diversity of the UK, and sometimes global population� We constantly strive to achieve the same breadth and scale of diversity across our donor population to give every patient an equal chance of finding a lifesaving stem cell donor from our volunteer donor pool�

The recruitment process was extensive� In addition to the Nominations Committee, this exercise included the involvement of another Trustee (Matt Miller), our CEO, senior Anthony Nolan employees, and our Anthony Nolan Community Involvement (ANCI) panel� The panel on this occasion included a patient who had received a stem cell transplant, the wife of a patient, and stem cell donors�

The process resulted in Debbie Lee being appointed to the Board and the Audit and Finance Committee in November 2022, Katy Minshall being appointed to the Board in April 2023, and Dr Victoria Potter being appointed to the Board in July 2023� Their breadth and depth of experience across research, patient care, marketing, public policy, social media, financial matters, and chartered accountancy together with their personal interest, and commitment to the work of Anthony Nolan, will help drive forward our ambitions across a range of areas�

More information about our Trustees can be found at anthonynolan.org/trustees

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~44~~

Retirement

Carol MacKinnon retired from the Board with effect from 24 July 2023� Carol had been Vice Chair of Anthony Nolan since January 2019, and Chair of the Audit and Finance Committee since March 2018� Simon Spyer retired from the Board of Trustees in September 2022�

We would like to thank them for their significant contributions to the success of the charity during their tenure�

Election

The Memorandum and Articles of Association stipulate that Trustees shall retire from office on the third anniversary of their appointment date� This is subject to the proviso that retiring Trustees may be re-appointed, but that no Trustee may serve for more than two consecutive terms of office, unless the Trustees decide that there are exceptional circumstances� Exceptional circumstances need to be justified in advance of any re-appointment and it would need to be in the best interests of the charity for a Trustee to serve for a third and final term of office�

The Trustees aim to ensure that the composition of the Board has the right balance of skills and expertise and is made up of individuals with suitable and diverse backgrounds and experience to contribute positively to the governance of Anthony Nolan� Since the members of Anthony Nolan are the Trustees and Directors, election and re-election are determined by the current Board in all cases�

Induction and training

The work of Anthony Nolan involves continuously advancing scientific and medical processes of stem cell transplants� To keep Trustees aware of the charity’s operations on both a national and international level, sessions are arranged to update them on the work of the charity, either during Trustees’ meetings or at separate meetings�

Presentations by external advisers relating to specific governance issues are organised as appropriate� The induction of a new Trustee is tailored to the individual concerned and includes a guided tour of our operations, an introduction to key employees, and an outline of the duties and responsibilities of being a Trustee and Director� All newly appointed Trustees are provided with an induction pack containing key documents and information relating to Anthony Nolan�

Declaration of interests

At each Board and Board sub-committee meeting, there is a standing agenda item for each Board member to declare their interests� Each financial year, all Trustees complete a Declaration of Interests form and new Trustees complete a Fit & Proper Person Declaration, as recommended by HMRC� Declarations of Interests are also completed by members of the Strategic Leadership Team and the Company Secretary�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~45~~

Remuneration of key management personnel

The Board of Directors, who are the charity’s Trustees, together with the Strategic Leadership Team, comprise our key management personnel, as defined by FRS102� All Trustees give their time freely and do not receive remuneration� Trustees are entitled to claim reasonable expenses under our Expenses Policy� Trustees’ expenses during the year are disclosed in note 11 to the Financial Statements� There were no related party transactions in addition to those with Anthony Nolan Trading Limited in 2022/23� The pay of the Strategic Leadership Team, and any pay increases, are approved by the Chair of the Board� Remuneration is reassessed as required when job vacancies are advertised based on a market rate benchmark across relevant sectors�

Number of Trustees

Currently, the Anthony Nolan Board has 13 Trustees� As part of the succession planning process the Board regularly reviews Trustee terms of office and decides when it is appropriate to consider either re-appointment or recruitment of Trustees in the best interests of the charity� The Board may wish to make new appointments over the coming year if specific needs arise or in light of planned Trustee retirement dates�

Charity Governance Code

Anthony Nolan supports the seven principles of good governance laid out in the Charity Governance Code, aspires to always follow best practice guidelines, and has continued to embed the recommended practices relating to the updates made to the Charity Governance Code in December 2020� As a charity registered in Scotland, as well as England and Wales, Anthony Nolan also supports the five core best practice principles laid down in the Scottish Governance Code 2018�

Anthony Nolan has identified five values that lie at the heart of everything we do and are vital for our success: accountable, passionate, patient-focused, innovative, and improving every day� These values underpin the decisions made by, and actions of, the Board and Strategic Leadership Team� Anthony Nolan also adheres to the National Council for Voluntary Organisations’ (NCVO) Charity Ethical Principles by putting our patients and donors first, creating a safe space for employees, volunteers, and beneficiaries and operating with integrity and openness� We have a number of policies and procedures in place to ensure that at Anthony Nolan we work responsibly and ethically�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~46~~

Our work in Scotland

We are fortunate to be supported in Scotland by a number of strategic partners, including Scottish Fire & Rescue Service (SFRS) and Police Scotland� These partners, with their trusted brands, help us to create connections and maximise our ability to influence policy that benefits our patients in Scotland, as well as helping us raise awareness of the need for, and to recruit, more stem cell donors� Our award winning 14-year partnership with SFRS is recognised across the UK as having a significant impact for patients in need of a stem cell transplant with over 19,000 donors recruited to the Anthony Nolan register, 101 of whom have gone on to donate their stem cells (as of April 2023)� This is due to SFRS’s commitment to target their activity at young people through their hugely successful school’s programme�

As well as our work with SFRS, Marrow volunteer student groups work in universities across the country to raise awareness and recruit people to the stem cell register� We have five active Marrow groups in Scotland who together recruited 1,076 potential donors to the stem cell register in 2022/23� We approach and support people and organisations in Scotland to give and raise money for our work from individuals and student groups to local companies and trusts�

Our specialised Patient Services team provide support, care, and advice for patients and families in Scotland� This includes practical and emotional support through our patient services team and localised support, made up of volunteers, Marrow groups, and partners, for families�

This year we held our annual Communities vs Blood Cancer event in Holyrood at the Scottish Parliament to raise awareness among MSPs of the need to recruit more young men and people from minority ethnic backgrounds to the UK stem cell register� Nearly 30 MSPs from cross parties joined including the Minister for Public Health, Maree Todd, and First Minister Nicola Sturgeon voiced her support for Anthony Nolan in Parliament�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~47~~

Employees

Anthony Nolan provides an inclusive working environment for employees and supports professional and personal development� Anthony Nolan is committed to fostering a culture of diversity, respect, and inclusion as well as equality of opportunity for all employees� Employment practices and policies are in place to ensure that no employee, or potential employee, receives less favourable treatment because of age, disability, gender reassignment, race, religion or belief, sex, sexual orientation, marriage and civil partnership, co-parenting, pregnancy, or maternity/paternity leave�

Employee information

The Strategic Leadership Team regularly provides information to employees through all-employee briefings and weekly emails from the Chief Executive� Information, news, policies, and resources are shared via our widely used employee intranet, Matchbook� We have also set up dedicated Microsoft Teams channels including Wellbeing, Learning and Development and Inclusion channels� Our Chief Executive, the Strategic Leadership Team and employees provide updates to the whole organisation about the strategic direction of the charity via All Staff Meeting webinars�

In line with legislation, we calculate and publish our annual gender pay gap data and report in April each year� Our mean gender pay gap in April 2022 was 9�9% (April 2021: 12�8%) and median 14% (April 2021: 17%)�

We regularly consult with employees through Anthony Nolan’s Employee Forum which includes a representative from every division� Employees’ views are also sought through our Open Door portal where employees can post questions and suggestions anonymously, web-based surveys, focus groups, and team meetings, the results of which feed into senior management decision making�

We launched our hybrid working policy guidance to managers and employees on how to best mix working remotely with time in the workplace� Our Facilities team has reconfigured our workspaces to accommodate more collaborative spaces for employees to meet�

Wellbeing

Our colleagues’ wellbeing continues to be a priority and in July 2022, building on the foundations we laid during the pandemic, we launched Thrive� This is a holistic approach to wellbeing designed around five strands, reflecting our employee wellbeing priorities: mental, physical, financial, social and learning� Thrive brings together regular content and events (both virtually and in person), as well as a space where our colleagues can contribute and connect to tell their own stories� Thrive is brought to life through collaboration across the People Team, Learning & Development, Equity, Diversity and Inclusion (EDI), and Internal Communications, ensuring an engaging, consistent wellbeing offering�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~48~~

With the ongoing cost-of-living rises, we have enhanced our offering to enable our colleagues to increase their depth of knowledge in relation to personal finances and improve their money confidence including a partnership with Octopus MoneyCoach� In addition, in May 2022 we launched WorkPerks, our reward platform and home to all our employee benefits (including our Employee Assistance Programme), discounts and cashback offers, and total reward statement�

We have also continued to enhance our managers’ skills and knowledge so they can support their teams’ wellbeing with confidence, not just through dedicated managing mental health at work training, but also as part of our management development programme� We have refreshed our Mental Health First Aider programme and also offer regular training on bereavement and grief with a specialist provider for those in roles who may be affected�

We know that connection can be a challenge in a hybrid environment but our Thrive channels provide opportunities for our colleagues to keep in touch and share events, as do our Menopause Café and Parents and Carers Network� Meanwhile our twice weekly ‘body-doubling’ sessions offer opportunities to virtually co-work� We also have netball and softball teams who play regularly in charity leagues and are a great way for colleagues to be social and get active�

Volunteers

Volunteers are vital to Anthony Nolan and now more than ever, we are opening up more opportunities for them to share their experiences, insight, and skills with us� Their continued drive to make us better at, and to support us with, saving and improving lives highlights how essential they are to the charity and how important it is that they are regularly involved and engaged� Our passionate team of 61 volunteer couriers undertook 835 trips throughout 2022/23, steadily returning to pre-pandemic involvement levels� After much uncertainty and travel rule changes, the team supporting the couriers is looking to develop the experience for our volunteers to make them feel more supported than ever before�

Our Marrow groups have continued to rebuild following the effects of the pandemic� This year, 549 committed Marrow volunteers across 40 active Marrow groups were able to sign up 7,313 potential donors; 6,775 at events, and a further 538 online� In September 2023, we will be celebrating 25 years of Marrow student volunteers supporting Anthony Nolan�

As we continue to develop roles which provide us with valuable insight, our ambition is that the volunteers who make up the Patient and Families (currently 263 volunteers), Policy Insights (currently 12 volunteers) and Youth Panels (currently nine volunteers) can be expanded to encapsulate a wider supporter voice� These roles give volunteers the opportunity to draw upon personal experiences to ensure Anthony Nolan is making decisions based on valuable insight gained from those closest to it� It is vital that volunteers are given the opportunity to support us in ways that suit them and moving forward, every effort will be made to ensure this happens�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~49~~

Business relationships

Contract management procedures are in place to ensure that all supplier and customer contracts operate in the best interests of both the charity and the trading subsidiary� New suppliers are subject to a thorough appraisal and due diligence process, including standard requirements for declaring interests, non-disclosure agreements as well as confirmation of compliance with our Modern Anti-Slavery Statement� Contracts with customers and suppliers are reviewed on a regular basis and price agreements are negotiated prior to any renewal� A Delegation of Financial Authorities Policy and Schedule, approved by the Board, is in place to determine signing authorities for contracts and oversight of key capital investment decisions, staffing matters, and audit protocols� This ensures that Trustees are aware of the use of resources within the organisation� All contracts over £250,000 are reported quarterly to the Audit and Finance Committee, and any contracts with a value of £1m or higher require approval by the Chair and are reported to the Board� A conflict of interests’ declaration is a standing item on the agenda for each Board and sub-committee meeting�

The charity has a robust procurement and vendor risk management process in place to vet its customers and suppliers� A new Procurement Policy was launched and rolled out across the charity in January 2023 with training provided to key budget holders� Through effective contract management, engaging relationships, and regular reviews with key suppliers and customers, the Board, via delegated authority to the Audit and Finance Committee, ensure that value for money is achieved with charitable funds�

Further information on our work to foster trusted business relationships and partnerships is outlined in the strategic aims of our organisational strategy�

Safeguarding

Protecting and safeguarding all those who come into contact with us through our work (including children and adults at risk) from abuse and mistreatment of any kind is a priority for Anthony Nolan and its Trustees� We reviewed and updated our Safeguarding Policy during 2022� This is available on our employee intranet and published on our website� The policy and mandatory training for employees, as well as training for volunteers identified as requiring inductions for working with the charity, are subject to regular review by the Designated Safeguarding Lead together with the leads for employees and volunteers, patients and donors� Arrangements are in place for employees and volunteers to report concerns to independent, external third parties to ensure at all times that matters can be raised without fear or favour� All Trustees are required to complete our mandatory safeguarding training and quarterly safeguarding reports are provided to Trustees as part of our governance process�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~50~~

Whistleblowing

It is important that any fraud, misconduct, or wrongdoing by employees or volunteers, including Trustees, acting on behalf of Anthony Nolan is reported and properly dealt with� A Whistleblowing policy is in place to ensure that people can safely raise concerns and feel confident they will be listened to, and their concerns will be properly investigated and acted upon appropriately�

Research Integrity

The Research Integrity Policy continues to outline our commitment to The Concordat to Support Research Integrity and how we fulfil the related principles in creating a comprehensive framework for responsible research conduct and governance� During 2023, the Anthony Nolan Research Integrity Policy will be reviewed and updated to reflect revisions to the research environment at Anthony Nolan and the UK Research Integrity Office’s guidance for misconduct in research� The updated policy will include a commitment to complete and publish an annual statement on research integrity to set out the work undertaken to support the Concordat to Support Research Integrity� The policy will continue to meet the UK Research and Innovation Policy on Governance of Good Research Conduct� In the last year, no concerns have been raised about the integrity, or otherwise, of research embarked on and produced by Anthony Nolan�

Anthony Nolan Trading Limited

Anthony Nolan Trading Limited (ANTL) is a wholly owned subsidiary of Anthony Nolan� This subsidiary plays a crucial role in fundraising on our behalf and the principal activity of ANTL is to carry on the trading operations of the group with a view to raising funds� This is achieved through advertising, fundraising events, and utilising intellectual and similar rights held by the parent charity� All commercial work carried out by our Laboratory is conducted through ANTL� As of 24 July 2023, Carol MacKinnon resigned as a Director of ANTL� Debbie Lee was appointed as a Director of ANTL in her place�

Professional indemnity insurance

Anthony Nolan has taken out an insurance policy that provides professional indemnity insurance cover for the Trustees� The cost of this insurance for the period was £3,243 (2021/22: £5,470)�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~51~~

Risk and governance matters

Anthony Nolan has a robust risk management process in place which operates within an overarching Risk Management Policy�

Our Organisational Risk Register records the main high-level risks facing Anthony Nolan that have the potential to impede the delivery of our strategic objectives or to have a very significant impact on the organisation� This Register is reviewed by our Strategic Leadership Team and Governance and Risk Committee every six months and reviewed and approved by the Board annually�

Across the organisation, we have implemented Divisional Risk Registers which help employees identify and manage risks within their divisions and are reviewed on a more frequent basis� This allows us to continually identify the controls and plans in place to mitigate against the risks�

Our ability to continue to save patients’ lives, and improve their quality and length of life, depends on having sufficient funding in place� Therefore, continuity of income remains the first of four principal risks identified by the Board� Our response to this risk has been informed by the continuing impact of the COVID-19 pandemic and the fact that we are in part dependent on NHS healthcare policy� A range of actions have been, and continue to be, taken to mitigate this risk� These include: working closely and building commercial relationships with UK transplant centres and international registries, diversification and growth of income streams from research, cell and gene therapy, and fundraising, enrichment of the register and speed of the donor provision patient journey, continued monitoring and horizonscanning to ensure early identification of potential supply chain issues and disruption to the import/export of cells, and influencing healthcare funding with the UK government� We adopt continuous improvement in our approach to fundraising appeals and donations within the digital space, alongside marketing campaigns that invest in our brand to help raise our profile� Our new organisational strategy launched publicly in April 2023 outlining our plans for the next five years includes income and expenditure assumptions and expectations to also help mitigate this ‘loss of income’ risk and have sufficient funding in place to ensure we are unlocking new ways to treat every patient�

The loss or misuse of personal data is the second principal risk identified by the Board, as we hold sensitive information in relation to patients, donors, financial supporters, employees, and volunteers� To mitigate against this risk, we have clear data protection, and confidentiality policies in place as well as a robust information security framework which was launched and rolled out to employees in March 2023� Employees are required to complete data protection and information security online training modules annually as well as monthly bite-sized training on cyber security risks� These policies and procedures are communicated to employees and volunteers, are available through a dedicated page on our intranet, and are monitored by a standing Data Security and Protection Working Group (DS&P)� The Marrow groups receive a detailed guidance note which explains how to collect and use personal data correctly and how to keep it safe�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~52~~

Technical solutions have been established to ensure personal sensitive medical data is encrypted and transmitted to third parties securely� Internal notification reporting processes of data loss or misuse are in place to identify, investigate, and mitigate against any potential issues with regards to the use of personal data�

The DS&P continues to monitor mitigating actions in place, aims to prevent reoccurrences of data incidents, and discusses data protection and information security compliance� The Chief Digital and Information Officer (CDIO) and Data Protection officer (DPO) are both on the DS&P and work together to discuss any new and existing projects which involve data protection or have information security concerns�

A Privacy Office, run by a dedicated Data Privacy Manager, ensures that data protection impact and legitimate interest assessments are completed where necessary� Policies and procedures comply with the requirements of the UK GDPR and the Data Protection Act 2018 and are available to all employees on the dedicated intranet page� The Data Privacy Manager is also Chair of the World Marrow Donor Association’s (WMDA) Security and Privacy Committee and keeps up to date with any new developments regarding the international community and international registries sharing personal data�

Our DPO reports directly to the Board and Governance and Risk Committee, through a quarterly written report� The Strategic Leadership Team considers and discusses all risks of non-compliance for projects containing personal data risks before the project can go ahead� Internal notification reporting processes of data loss or misuse are in place to identify, investigate, and mitigate against any potential issues with regards to the use of personal data�

Our organisation-wide data mapping exercise is undertaken annually and identifies all our data processing activities, as well as any areas of risk� We have implemented a robust procedure to respond to Subject Rights Requests� There were 10 Subject Access Requests and 158 Rights to Erasure Requests received during the fiscal year 2022/23� All requests were completed within the required one-month timeframe�

The risk of a data security breach due to system vulnerabilities, phishing attacks, or other similar malicious activity is the third principal risk identified by the Board� We are aware of the increased risk in this area at present as a result of external and global factors and continue to act accordingly� We have further developed our Information Security Policies to sit within a defined Information Security Management System (ISMS) to bring them more up to date and in closer alignment with the global Information Security Standard of ISO27001� We have also pushed forward with tighter compliance on both data security and information security refresher training, and have developed an Information Security Charter which sets out our expectations and commitment and is displayed in our buildings for employees to see� This work along with continued investment in the technical tools and architecture to help provide the technical protection to our environment is reflected in further improvements in our maturity scoring in the 2022/23 Savanti cyber audit versus previous years� Our desire to continue to keep pace with the attack vector and to set ourselves ambitious but realistic fresh targets, means we continue to focus on areas of improvement across all 15 areas of the cyber controls� A plan has been built to structure the approach to this

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~53~~

work and we will now move to a more audit and risk management-based assessment of our maturity against the ISMS controls and policies� Our DS&P continues to be in place to monitor progress against agreed actions and milestones and the Governance and Risk Committee will continue to monitor progress on the actions identified in the Cyber Audit report on behalf of the Board and will flag any areas of concern to the Board for further review, should they arise�

The fourth principal risk identified by the Board relates to the decommissioning of a key system within Anthony Nolan in a timely fashion to ensure that we do not become reliant on unsupported technology� During 2022, after rigorous testing, we migrated our Oracle database to the cloud, thereby taking a big step in improving the resilience of this environment� We have also continued our development work on the decommissioning of the system and have allocated a project manager to look at all aspects of the work required to complete this� Budget has been ringfenced within the 2023/24 Technology budget to continue the work and will be re-assessed when the outcome of the review is completed� The risk will be closely monitored to ensure work continues and de-risks the impact on the organisation�

The Board has given consideration to the major risks the charity is exposed to and satisfied themselves that systems or procedures are established in order to manage those risks�

A Delegation of Financial Authorities Policy and Schedule, reviewed and updated in March 2023, is in place to determine signing authorities for contracts, as agreed by the Board�

As required by the Charity Commission, a Serious Incidents Reporting Policy is in place�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~54~~

Energy and carbon statement

As part of the obligations set out under the Energy and Carbon Report Regulations 2018, we monitor and measure energy consumed, and subsequent carbon created as an organisation� The energy we consume is primarily fossil fuel which falls within scope 1 & 2, as classified under Energy and Carbon Reporting (SECR) and presented in Tables 1 & 2� This statement excludes scope 3 emissions as these are not material to our activities�

Organisational and operational boundaries of the company

Anthony Nolan does not have a complex company structure and therefore the company accounts for 100% of the carbon produced through greenhouse gas (GHG) emissions from operations over which it has control�

These are recognised as:

  1. Head Office, London

  2. Nottingham Laboratory

  3. Laboratory and Research Facility, London

Energy consumption and greenhouse gas emissions

Anthony Nolan consumes energy as part of our business activities which falls under scope 1 & 2 of the regulations� The methodology used for determining energy and carbon emissions within this section of the Report derive from the following:

  1. Natural gas used for heating and hot water in the buildings we occupy (Scope 1)

  2. Electricity used for lighting, cooling, and air conditioning and the operation of laboratory equipment (Scope 2)

  3. Fuel consumption in vehicles that are used for business including employees’ vehicles used for business travel and fleet vehicles (Scope 1)

Gas and electricity consumption have been taken from invoices and sub-meter readings either collated locally by our Facilities team or by third parties where we have hosted sites (Nottingham and London Labs)� Where the readings/invoices do not cover a full year, we have estimated the consumption for the full year based on the average consumption per day in the period�

Fuel consumption is measured from use of grey fleet vehicles and journeys by employees traveling from site to site� Where employees use their own vehicles for business purposes a mileage allowance is paid�

Our consumption and associated greenhouse gas emissions for the financial year April 2022 to March 2023 are shown below in Table 1�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~55~~

Table 1: Total energy consumption and associated greenhouse gas emissions from Scope 1 and Scope 2 for SECR Year 2 reporting period�

Energy Type: Energy Use (kWh) % Split kWh Emissions
(tCO2e/yr.)		 % Split
CO2e
Combustion of Gas
(Scope 1)		 336,020 27% 61 33%
Transport
(Scope 1)		 9,882 (miles)
12,522		 1% 3 2%
Electricity
(Scope 2)		 555,716 72% 118 65%
Total
(Scope 1 & 2)		 904,258 100% 182 100%

Table 2: Energy and carbon conversion factors

The UK Government Greenhouse Gas Conversion factors for company reporting 2019 have been used to convert energy consumption to carbon dioxide equivalent emissions� The conversion factors used are summarised below:

Activity Fuel Unit Year kg CO2e
Electricity
generated		 Electricity: UK kWh 2022 0�2123
Gaseous Fuels Natural gas kWh 2022 0�1843
Transport
(average car)		 Diesel kWh 2022 0�2301

UK Government GHG Conversion Factors for Company Reporting, 2020, BEIS & DEFRA

Vehicle use is based on fleet vehicles and employee travel using their own vehicles for business use� An assumption has been made that all vehicles use standard diesel biofuel blend and have an engine transmission of 2L or less� Therefore 0� 2972 kg CO2e per kWh value has been applied� The fuel conversion factor applied is (kWh/mile): 0�2972kg CO2e per mile / 0�2301 kg CO2e per kWh= 1�292 kWh/mile�

Intensity ratio

Intensity ratios compare emissions data with an appropriate business metric or financial indicator� This allows a comparison of energy efficiency performance over time and with other similar size organisations in our sector� We have chosen to compare our overall emissions with our annual turnover for the 2022/23 year�

Table 3: Intensity ratio – energy consumption and associated greenhouse gas emissions per £100,000 of annual turnover�

Energy
Consumption		 Total greenhouse
gases emissions		 The annual group
turnover
(£’M)		 Intensity Ratio Intensity Ratio
(kWh) (tCO2e) FY 22/23 (kWh / £100,000
turnover)		 (tCO2e /£100,000
turnover)
940,258 182 58�6 1�546 0�311

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~56~~

Energy use – performance

In comparison to 2021/22 our overall energy consumption across our activities has reduced by 12%� This reduction can be attributed to less gas consumption (10%) which has been achieved through optimising controls on heating and hot water systems� and other energy saving initiatives such as turning off lighting and reducing heating in unoccupied areas (2%)�

Energy use – 5-year trend (kWh) Energy use – 5-year trend (kWh) Energy use – 5-year trend (kWh)
Energy Type: SECR
Year 1
2020/21 (Baseline year)		 SECR
Year 2
2021/22		 SECR
Year 3
2022/23
Combustion of Gas 355,622 390,823 336,020
Transport
(Scope 1)		 23,668 15,053 12,522
Electricity
(Scope 2)		 613,762 602,606 555,716
Total
(Scope 1 & 2)		 993,032 1,008,482 904,258

Environmental Sustainability and energy efficiency actions

Anthony Nolan is committed to reducing our carbon emissions and the impact our activities have on the environment� We continue to review and introduce initiatives to proactively manage our properties and assets� The progress in the past year:

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~57~~

Professional fundraising partnerships

Anthony Nolan uses a select group of third-party agencies to fundraise on our behalf� We have longstanding partnerships with all the third-party agencies we use, and they were all appointed following a thorough tender process driven by a focus on quality and value for money� We also work with external agencies to deliver our Payroll Giving programme and our raffles and lottery�

In order to ensure the safety and protection of our supporters, we conduct regular monitoring and mystery shopping of those dealing directly with the general public� We listen to a minimum of 10 calls a month during a telephone campaign to check the quality of appeals made on our behalf� We also collate all feedback we receive about these practices and pass it on to the relevant agencies so we can adapt our approach if necessary� Anthony Nolan is scrupulous about these practices�

To aid this, we also have a robust policy, approved by the Board, to protect vulnerable people, intrusion of privacy, and unreasonably persistent approaches� This includes extensive training for those fundraising on our behalf�

We received a total of 15 complaints related to fundraising in 2022/23, which is a reduction compared to the 21 complaints received during 2021/22� Having undertaken a reduced amount of telephone fundraising this year we have seen a corresponding reduction in the number of complaints received in relation to this fundraising method� We have also seen a reduction in complaints in relation to our lottery as last year there was an error leading to the same communication being sent multiple times resulting in complaints�

We value all types of feedback about our fundraising and marketing activities, including complaints� These help us to learn and to improve the services we offer� We attempt to respond to all people directly about their feedback, provided we have the information and permission to do so, in order to try to resolve the issue and turn it into a positive experience�

Complaints can be sent to us in writing to our Fundraising Complaint Coordinator at our head office, by email to fundraisingcomplaints@anthonynolan.org , or by phoning 020 7424 6626�

Complaints are reviewed by the Complaint Coordinator before being forwarded to the relevant person to investigate and respond� This depends on the nature of the feedback and the type of activity it relates to� We will get back to individuals within 14 days to confirm receipt and within 30 days to follow up on the investigation, including details of what they can do if they are dissatisfied with the outcome� Where individuals are not satisfied with the outcome of the investigation, they can escalate these to a member of the Strategic Leadership Team at Anthony Nolan as appropriate, and/or the Fundraising Regulator� We record feedback centrally in order to assess which activities are driving complaints, to ensure that we are meeting timelines to understand any emerging themes and to support employee training where appropriate� These are collated and shared as part of our central feedback reporting processes and as members of the Fundraising Regulator we report back to them as part of the annual complaints return�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~58~~

Anthony Nolan values the privacy of all those who support us in our lifesaving work� We have systems in place to ensure that supporter data is collected, managed, and processed in line with all necessary legislation and to satisfy the requirements of the UK GDPR and Data Protection Act 2018� We are members of the Fundraising Regulator and comply with all requirements, including following the Fundraising Regulator Code of Fundraising Practice� We also check that, as representatives of Anthony Nolan, our agencies follow these practices� Anthony Nolan holds a Gambling Commission License for our postal and online raffle programme and lottery�

Fundraisers

At the request of the organisations listed below, we disclose and recognise the following fundraising donations received in 2022/23� We are grateful for their generous support of our work�

Working with pharmaceutical companies

Anthony Nolan works with pharmaceutical companies in a variety of ways and several policies, which are underpinned by operational procedures and due diligence, ensure these relationships are conducted ethically� We have an overarching policy in place which governs how we work with pharmaceutical companies in a commercial and non-commercial capacity� If a relationship is commercial, it is subject to our usual due diligence procedures for working with third parties and is always subject to a contractual framework� We always aim to be open, transparent, and honest in response to any public, supporter, patient, or media enquiry concerning any of our relationships with pharmaceutical companies� We would like to acknowledge the following non-commercial work with pharmaceutical companies in the last year:

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~59~~

Anthony Nolan is one of 15 UK charities who form the Blood Cancer Alliance (BCA)� The BCA became a charitable incorporated organisation (CIO) in April 2023 and is therefore regulated by the Charity Commission� Together, we are working to tackle the issues blood cancer patients face and improve the experience and outcomes of all those living with blood cancer� While the BCA receives funding from the pharmaceutical industry, it is wholly independent of these commercial organisations� A full breakdown of BCA pharmaceutical funding is available on the BCA website ( bloodcanceralliance.org/funding )�

Public benefit

The Trustees, in exercising their powers and duties, have complied with their duty in section 4 of the Charities Act 2011 and have had due regard to the public benefit guidance published by the Charity Commission� In preparing the report and accounts, the Trustees have complied with the requirements set out in the guidance to report on the significant activities and achievements of the charity in 2022/23� They have reported in a way that both sets out the aims and strategies of the charity and demonstrates how our aims and activities were carried out for public benefit�

Funds held as custodian

Although Anthony Nolan maintains restricted funds to deal with income which is earmarked for a particular purpose by donors, sponsors, and other funds, Anthony Nolan does not currently hold, and the Trustees do not intend that it will in the future hold, any funds as custodian for any third party�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~60~~

Trustees’ and directors’ responsibilities in the preparation of financial statements

The Trustees are responsible for preparing the strategic report, the Trustees’ report and the financial statements in accordance with the applicable law and regulations�

Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law)� Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and charity and of the incoming resources and application of resources, including the income and expenditure, of the group and charity for that period�

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy, at any time, the financial position of the charity, and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006 as amended� They are also responsible for safeguarding the assets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities�

Financial statements are published on the charity’s website in accordance with the legislation in the UK governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions� The maintenance and integrity of the charity’s website is the responsibility of the Trustees� The Trustees’ responsibility also extends to the ongoing integrity of the financial statements contained therein�

Auditor

BDO LLP has indicated its willingness to continue in office and were reappointed by the Audit and Finance Committee at its March 2023 meeting�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~61~~

Statement as to disclosure of information to auditor

The Trustees who were in office on the date of approval of these financial statements have confirmed, as far as they are aware, there is no relevant audit information of which the auditor is unaware� Each Trustee has confirmed that they have taken all the steps that they ought to have taken in order to make themselves aware of any relevant audit information, and to establish that it has been communicated to the auditor�

The Trustees’ Annual Report is approved by order of the Board and the Strategic Report and the Directors’ Report required by company law (included therein) are approved by the Board in their capacity as the directors at a meeting on 24 July 2023 and signed on their behalf by:

Nicola Horlick Chair

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~62~~

Independent auditors’ report to the Trustees and members of Anthony Nolan

Opinion on the financial statements

In our opinion, the financial statements:

We have audited the financial statements of Anthony Nolan (“the Parent Charitable Company”) and its subsidiaries (“the Group”) for the year ended 31 March 2023 which comprise the consolidated statement of financial activities, the parent statement of financial activities, the consolidated and charity balance sheets, the consolidated cash flow statement and notes to the financial statements, including a summary of significant accounting policies� The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice)�

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law� Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report� We are independent of the Group and the Parent Charitable Company in accordance with the ethical requirements relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements� We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~63~~

Conclusions related to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate�

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group and the Parent Charitable Company’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue�

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report�

Other information

The Trustees are responsible for the other information� The other information comprises the information included in the Annual Report and Financial Statements, other than the financial statements and our auditor’s report thereon� The other information comprises: The Trustees’ report and the strategic report� Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon� Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated� If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information� If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact�

We have nothing to report in this regard�

Other Companies Act 2006 reporting

In our opinion, based on the work undertaken in the course of the audit:

In the light of the knowledge and understanding of the Group and the Parent Charitable Company and its environment obtained in the course of the audit, we have not identified material misstatement in the strategic report or the Trustee’s report�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~64~~

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities and Trustee Investment (Scotland) Act 2005 requires us to report to you if, in our opinion;

Responsibilities of Trustees

As explained more fully in the Trustees’ and Directors’ Responsibilities in the Preparation of the Financial Statements, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error�

In preparing the financial statements, the Trustees are responsible for assessing the Group’s and the Parent Charitable Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the Parent Charitable Company or to cease operations, or have no realistic alternative but to do so�

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder�

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion� Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material

misstatement when it exists� Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~65~~

Extent to which the audit was capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations� We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud� The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We considered the Group’s own assessment of the risks that irregularities may occur either as a result of fraud or error and the Group’s compliance with laws and regulations that have a direct impact on the financial statements, including the Companies Act, Charities Act 2011 and Charities and Trustee Investment (Scotland) Act 2005� Other laws and regulations where non-compliance may have a material impact on the financial statements include: employment law, taxation legislation, data protection, health and safety legislation, fundraising regulations and the Human Tissue Act 2004� Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of Those Charged with Governance and other management and inspection of regulatory and legal correspondence, if any�

We also evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial results and management bias in accounting estimates�

In addition, we considered the scope for management to manipulate financial results through the timing of the recognition of income, in particular income relating to the provision of stem cell donors�

Audit response to risks identified

The Senior Statutory Auditor has assessed and concluded that the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations�

We enquired of management and those charged with governance, including obtaining and reviewing supporting documentation, concerning the Group’s policies and procedures relating to:

Our tests included reviewing the financial statement disclosures and tested to supporting documentation to assess compliance with relevant laws and regulations discussed above�

We made enquiries of the Trustees’ representatives and management and performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~66~~

We also reviewed minutes of meetings of those charged with governance and performed audit procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud�

In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments to address the risk of management override of controls; assessed whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business�

We challenged assumptions made by management in their significant accounting estimates, including revenue recognition, capitalisation policies and cost allocation methodology�

Throughout our audit procedures, we did not identify any matters relating to irregularities, including fraud�

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion� There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it�

A further description of our responsibilities for the audit of the financial statements is located at the Financial Reporting Council’s (FRC) website� This description forms part of our auditor’s report�

Use of our report

This report is made solely to the Charitable Company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the Charitable Company’s trustees, as a body, in accordance with the Charities and Trustee Investment (Scotland) Act 2005� Our audit work has been undertaken so that we might state to the Charitable Company’s members and trustees those matters we are required to state to them in an auditor’s report and for no other purpose� To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charitable Company, the Charitable Company’s members as a body and the Charitable Company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed�

Fiona Condron (Senior Statutory Auditor)

For and on behalf of BDO LLP, statutory auditor, London, UK

15 August 2023 BDO LLP is a limited liability partnership registered in England and Wales (with registered number OC305127)�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~67~~

Anthony Nolan and Subsidiary Undertaking

Consolidated Statement of Financial Activities

(Including Consolidated Income and Expenditure Account) for the year ended 31 March 2023

Notes
Income from:
Donations and legacies
2
Charitable activities
Donor provision
5
Research
6
Other trading activities
3
Investments
4
Other
7
Total income
Expenditure on:
Raising funds:
Expenditure on raising donations and legacies
8
Expenditure on other trading activities
3, 8
Charitable activities:
Donor provision
8
Education and awareness
8
Research
8
Total expenditure
Net (expenditure)/income
Transfers between funds
22
Net movements in funds
Reconciliation of funds
Total funds brought forward
22
Total funds carried forward
22		 Unrestricted
Funds
Restricted
Funds
TOTAL
2023
£'000
£'000
£'000
7,834
908
8,742
48,664
–
48,664
650
256
906
118
–
118
154
–
154
8
–
8
57,428
1,164
58,592
4,153
–
4,153
66
–
66
47,955
1,061
49,016
3,744
–
3,744
2,936
221
3,157
58,854
1,282
60,136
(1,426)
(118)
(1,544)
58
(58)
–
(1,368)
(176)
(1,544)
14,188
1,206
15,394
12,820
1,030
13,850		 Unrestricted
Funds
Restricted
Funds
TOTAL
2022
£'000
£'000
£'000
8,169
876
9,045
43,800
–
43,800
240
265
505
89
–
89
89
–
89
11
–
11
52,398
1,141
53,539
3,552
–
3,552
61
–
61
42,544
572
43,116
3,437
–
3,437
2,667
211
2,878
52,261
783
53,044
137
358
495
3
(3)
–
140
355
495
14,048
851
14,899
14,188
1,206
15,394

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~68~~

Anthony Nolan and Subsidiary Undertaking

Parent Charity Only Statement of Financial Activities

(including Parent Charity Only Income and Expenditure Account) for the year ended 31 March 2023

Notes
Income from:
Donations and legacies
2
Charitable activities
Donor provision
5
Research
6
Investments
4
Other
7
Total income
Expenditure on:
Raising funds:
Expenditure on raising donations and legacies
8
Charitable activities:
Donor provision
8
Education and awareness
8
Research
8
Total expenditure
Net (expenditure)/income
Transfers between funds
22
Net movements in funds
Reconciliation of funds
Total funds brought forward
22
Total funds carried forward
22		 Unrestricted
Funds
Restricted
Funds
TOTAL
2023
£'000
£'000
£'000
7,834
908
8,742
48,664
–
48,664
650
256
906
180
–
180
34
–
34
57,362
1,164
58,526
4,153
–
4,153
47,955
1,061
49,016
3,744
–
3,744
2,936
221
3,157
58,788
1,282
60,070
(1,426)
(118)
(1,544)
58
(58)
–
(1,368)
(176)
(1,544)
14,128
1,206
15,334
12,760
1,030
13,790		 Unrestricted
Funds
Restricted
Funds
TOTAL
2022
£'000
£'000
£'000
8,169
876
9,045
43,800
–
43,800
240
265
505
98
–
98
30
–
30
52,337
1,141
53,478
3,552
–
3,552
42,544
572
43,116
3,437
–
3,437
2,667
211
2,878
52,200
783
52,983
137
358
495
3
(3)
–
140
355
495
13,988
851
14,839
14,128
1,206
15,334

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~69~~

Anthony Nolan and Subsidiary Undertaking

Consolidated and Charity Balance Sheets

As at 31 March 2023

Company number: 02379280 Charity number: 803716 Charity number (Scotland): SCO38827

Notes
Fixed assets
Tangible assets
13
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
17
Liabilities
Creditors: Amounts falling
due within one year
18
Net Current assets
Total assets less current liabilities
Provisions for liabilities
21
Net assets
The funds of the Group and the Charity
Restricted income funds
22
Unrestricted income funds
General Fund
22
Total Group and Charity funds
22,23		 Group 2023
£'000
3,740
3,740
572
13,629
5,641
19,842
9,084
10,758
14,498
648
13,850
1,030
12,820
13,850		 Group 2022
£'000
4,011
4,011
512
10,736
9,518
20,766
8,735
12,031
16,042
648
15,394
1,206
14,188
15,394		 Charity 2023
£'000
3,740
3,740
572
13,810
5,386
19,768
9,070
10,698
14,438
648
13,790
1,030
12,760
13,790		 Charity 2022
£'000
4,011
4,011
512
10,927
9,226
20,665
8,694
11,971
15,982
648
15,334
1,206
14,128
15,334

The financial statements on pages 68 to 96 were approved by the trustees and authorised for issue on 24 July 2023, and are signed on their behalf by

Date: 24 July 2023

Chair Nicola Horlick

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~70~~

Anthony Nolan and Subsidiary Undertaking

Consolidated and Charity Statements of Cashflow

For the year ended 31 March 2023

Company number: 02379280 Charity number: 803716 Charity number (Scotland): SCO38827

Reconciliation of net income to net cash fow
from operating activities
Net (expenditure)/income for the reporting period
Adjustments for:
Depreciation
Interest and rents from investments
Increase in stocks
Increase in debtors
Increase/(Decrease) in creditors
Increase in provisions
Net cash outfow provided by operating activities
Net cash generated by/(used in) investing activities:
Interest and rents etc� from investments
Purchase of property, plant and equipment
Sale of fxed asset investments
Net cash used in investing activities
Decrease in cash and cash equivalents
Cash and cash equivalents at the beginning of year
Analysis of changes in net debt
Cash and cash equivalents
As at 1 April
Cash outfows
As at 31 March		 Group 2023
£'000
(1,544)
1,030
(154)
(60)
(2,893)
349
–
(3,272)
154
(759)
–
(605)
(3,877)
9,518
Group 2023
£'000
9,518
(3,877)
5,641		 Group 2022
£'000
495
475
(89)
(88)
(549)
(714)
44
(426)
89
(1,387)
1
(1,297)
(1,723)
11,241
Group 2022
£'000
11,241
(1,723)
9,518		 Charity 2023
£'000
(1,544)
1,030
(180)
(60)
(2,883)
376
–
(3,261)
180
(759)
–
(579)
(3,840)
9,226
Charity 2023
£'000
9,226
(3,840)
5,386		 Charity 2022
£'000
495
475
(98)
(88)
(106)
(729)
44
(7)
98
(1,387)
1
(1,288)
(1,295)
10,521
Charity 2022
£'000
10,521
(1,295)
9,226

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~71~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

Charity information

Anthony Nolan is a company limited by guarantee (registered number 02379280), which is a public benefit entity and registered as a charity in England and Wales (charity number 803716), and Scotland (SCO38827), and domiciled in the UK� The address of the registered office is Royal Free Hospital, Pond Street, London NW3 2QG�

~~1~~ Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

~~a)~~ Basis of accounting

The financial statements have been prepared in accordance with Accounting and reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition effective 1 January 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102); the Companies Act 2006, The Charities Act 2011 and the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006� The reporting currency is pound sterling�

Anthony Nolan meets the definition of a public benefit entity under FRS 102� Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s)�

~~b)~~ Basis of consolidation

The consolidated accounts incorporate the result of Anthony Nolan and its wholly owned subsidiary undertaking, Anthony Nolan Trading Limited, on a line by line basis� The consolidated entity is referred to as ‘the group’�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~72~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~1~~ Accounting policies (continued)

~~c)~~ Going concern

The Trustees have reviewed the group’s and the charity’s financial forecasts throughout FY 2022/23 and into future years, covering a period that exceeds 12 months from the date of signing these financial statements�

With the preparation and launch of a new ambitious five-year Organisational Strategy Unlocking new ways to treat every patient in April 2023, the Trustees also reviewed a five-year Financial Forecast for the Charity� The strategic plan is to broaden our cellular therapy activities, with income growth of circa 8% anticipated for FY 2023/24, with a break-even EBITDA position� Future years predict further selective investment in resources to grow our income, treat and cure more patients, so that by FY 2027/28 we envisage the income for the Charity would be +£70m pa� Reserves and cash would lie healthily within the £8m-£12m banding of the reserves policy�

This new strategy aims to ensure more patients will have successful transplants, everyone gets the best possible treatment and support regardless of ethnicity or circumstance and more new therapies are available for patients more quickly�

As we unite science and people more closely, we will unlock the cures, treatments and transplants that will transform the future for more patients� The keys to unlocking our ambition are pioneering research and evidence-based influencing, data that gives us powerful insight, and donors whose incredible generosity is saving and improving lives today and in the future�

These will drive us towards our new vision of a future where every patient who needs us can survive and thrive�

The Strategic Leadership Team have acted to address operational efficiencies and the cost base, with the ever present economic headwinds, to ensure the best use of charitable funds�

An unsecured overdraft facility of £2�0m remains in place from March 2021 with Barclays Bank�

The Charity’s cash reserves are currently being held to ensure the necessary liquidity for continued operational investment, £2m of cash reserves are being held under short-term deposits�

Based on the existing levels of cash, and the scenario planning predictions based on estimated levels of income and expenditure, the Trustees are satisfied that the charity has adequate resources to continue in operation for the period to 31 March 2025�

Trustees have also considered there are no material uncertainties in the operating environment�

Accordingly, the going concern basis has been used in preparing these financial statements�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~73~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~1~~ Accounting policies (continued)

~~d)~~ Income

Income is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably� Donations are accounted for when either receivable or there is sufficient evidence to suggest that it is probable and there is entitlement to the income� Donations are stated gross of any attributable tax recoverable� Sponsorship income from events is recognised when the event takes place�

Income from government and other grants are recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably� Donations and grants given for specific purposes are treated as restricted income�

Income from legacies is recognised when probate is granted and there is sufficient information to value them� Reversionary interest involving a life tenant is not recognised� Where a payment is received from an estate after the reporting date and before the accounts are authorised but it is clear that the payment had been agreed by the executors prior to the end of the reporting period, then it is treated as an adjusting event and accrued as income�

Income in respect of payments for transplants and other similar services derives from the amounts charged in respect of the search for matching tissue types and the arrangement of the transplants, and is accounted for when transplant or other procedure takes place� It is classed as income from charitable activities�

Rental income on assets leased under operating leases is recognised on a straight line basis over a lease term and is presented within the investment income�

~~e)~~ Expenditure and allocation of support and governance costs

All expenditure is accounted for on an accruals basis inclusive of any irrecoverable Value Added Tax� Expenditure on charitable activities includes grants payable to other institutions and individuals� Where costs cannot be directly attributed, they are allocated to categories on a basis consistent with the budgeted use of the resources concerned and in proportions based upon a suitable ratio applicable to the nature of the cost involved� The basis of allocation of support and governance costs is analysed in Note 10�

Redundancy and termination benefits are recognised in the period in which the charity commits to incur the costs� These costs are allocated on the same basis as other expenditure�

The regulations, FRS102, will allow up to four weeks unused annual leave to be carried over� Anthony Nolan has agreed a maximum carry over of five (5) days and the necessary Holiday Pay provision has been accrued at year end by individual staff member based on their annual leave entitlement�

Grants to third parties are charged in the year when an award is approved by the relevant award panel and the commitment is communicated to the recipient, except in cases where the offer is conditional� Such grants are recognised as expenditure when conditions are fulfilled�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~74~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~1~~ Accounting policies (continued)

~~f)~~ Foreign currencies

Transactions denominated in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction� Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date� All exchange gains or losses are included in the statement of financial activities in the period to which they relate�

~~g)~~ Financial instruments

Basic financial instruments

The group has financial assets and financial liabilities of a kind that qualify as basic financial instruments� Basic financial, other than fixed assets investments, are initially recognised at transaction value and subsequently measured at their settlement value�

~~h)~~ Research and development expenditure

Expenditure on research and development is written off to the Statement of Financial Activities in the period in which it is incurred�

~~i)~~ Tangible fixed assets

All tangible assets purchased costing more than £1,000 that have a useful economic life that exceeds one year are capitalised and classified as fixed assets, the exception being computer equipment, which is all capitalised, even if the cost is lower than £1,000� Tangible fixed assets are stated at historical cost less depreciation� Depreciation is provided on all tangible fixed assets at rates calculated to write each asset down to its estimated residual value over its expected useful life, as follows:

Leasehold buildings over the life of the lease
Leasehold improvements, fxtures & fttings over 3 to 4 years
Ofce equipment over 3 to 5 years
Computer equipment and software over 3 years
Laboratory equipment over 3 to 5 years

In circumstances where the charity incurs software development costs that meet the criteria set out in Section 18 of FRS 102 then those costs will be capitalised�

Software and software development costs are treated as tangible assets�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~75~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~1~~ Accounting policies (continued)

~~j)~~ Stocks

Stocks are valued at the lower of cost and net realisable value� Stocks that have reached the expiry date are written off at the point of expiry�

~~k)~~ Leased assets and obligations

Rentals payable under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term�

~~l)~~ Taxation

The company is a registered charity and as such its income and gains falling within Sections 471 to 489 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 are exempt from Corporation tax to the extent that they are applied to its charitable activities�

Costs are recorded gross of VAT but the group is able to reclaim a proportion of VAT paid, because of its trading activities, using the partial exemption method�

The subsidiary company distributes any taxable profits to the charity each year under Qualifying Charitable distribution�

~~m)~~ Pension contributions

The group and the charity make contributions into defined contribution pension schemes on behalf of certain employees� The assets of the schemes are held separately from those of the group and the charity in independently administered funds� The amount charged to the Statement of Financial Activities in respect of pension costs is the total contributions payable for the year�

~~n)~~ Fund accounting

The general fund comprises the accumulated surpluses of unrestricted incoming resources over resources expended, which are available for use in furtherance of the general objectives of the charity�

Designated funds are part of unrestricted funds which Trustees have earmarked for a particular project or use, without restricting or committing the funds legally� The designation may be cancelled by the trustees if they later decide that the charity should not proceed or continue with the use or project for which the funds were designated�

Restricted funds are funds subject to specific conditions imposed by funders� The purpose and use of the restricted funds are set out in the notes to the accounts� Amounts unspent at the period end are carried forward in the balance sheet� Where the specific conditions of the donation are met so the funds are no longer restricted in purpose or use, unspent amounts are transferred to the general fund�

Restricted income spend on fixed assets, such as laboratory equipment, is shown as a transfer to the unrestricted fund at the point of purchase, once the terms of the restriction have been met�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~76~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~1~~ Accounting policies (continued)

~~o)~~ Provisions

Provision is made by the group and the charity for liabilities and charges arising from legal or constructive obligations that exist at the balance sheet date� The amount is calculated on the basis of the estimated cost to settle the present obligation or transfer it to a third party at that date� Consideration is given to the timing of the cash flows and to future events and uncertainties which may affect the amount required to settle the obligations�

Critical accounting judgement and sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical evidence and other factors, including expectations of future events that are believed to be reasonable under circumstances�

Critical judgements in applying the charity’s accounting policies

(i) Dilapidation costs

In estimating the dilapidation costs relating to the leases of premises a provision is calculated in accordance with the amount per square foot� This is applied at each year end based on the premises occupied and when major improvements are carried out, or according to the surveyor’s estimates�

~~2~~ Donations and legacies income

Group & Charity
Donations
Legacies
Statutory grants (CRJS grant)		 Unrestricted
Funds
Restricted
Funds
Total
2023
Total
2022
£’000
£’000
£’000
£’000
7,125
908
8,033
8,218
709
–
709
821
–
–
–
6
7,834
908
8,742
9,045

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~77~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~3~~ Trading operations and investments

The charity has one wholly owned subsidiary, Anthony Nolan Trading Limited (“ANTL”), a company registered in England & Wales (Company number 02511952, registered office: The Royal Free Hospital, Pond Street, London NW3 2QG)� The charity owns 100 ordinary shares of £1 each that were issued in ANTL at par upon incorporation� These shares are carried in the balance sheet at their original cost of £100�

The principal activity of ANTL is to carry on the trading operations of the group with a view to raising funds on behalf of the parent charity, which is achieved through the sale of merchandise, advertising, the organisation of fundraising events, and by exploiting intellectual property and other similar rights held by the parent charity� Annual financial statements for this subsidiary company are filed with the Registrar of Companies for England and Wales, and are publicly available�

At 31 March 2023, the value of ANTL’s net assets was £61k (2022: £61k) matching the value of the shareholder’s funds� Current assets were £280k (2022: £308k) and current liabilities £219k (2022: £247k)�

In the year ANTL made a turnover of £118k (2022: £89k) and expended £92k (2022: £80k), including a share of central costs payable to Anthony Nolan (Note 27), thereby generating operating profit of £26k (2022: £9k)� The sum equivalent to the taxable profits was distributed to Anthony Nolan�

~~4~~ Investment income

Group
Rent receivable under operating leases
Bank interest receivable on
short term cash deposits
Charity
Rent receivable under operating leases
Bank interest receivable on
short term cash deposits
Anthony Nolan Trading Ltd: Qualifying Charitable donation		 Unrestricted
Funds
Restricted
Funds
Total 2023
£'000
£'000
£'000
75
–
75
79
–
79
154
–
154
75
–
75
79
–
79
26
–
26
180
–
180		 Total 2022
£'000
79
10
89
79
10
9
98

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~78~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~5~~ Donor provision income

Group and Charity
Fees receivable for the provision of donors
Support income in relation to donor processing		 Unrestricted
Funds
Restricted
Funds
Total 2023
£'000
£'000
£'000
48,331
–
48,331
333
–
333
48,664
–
48,664		 Total 2022
£'000
43,467
333
43,800

~~6~~ Research income

Research income
Other income
Group
Other income
Charity
Anthony Nolan Trading Ltd: recharge of costs
Other income
Group and Charity
Research income receivable		 Unrestricted
Funds
Restricted
Funds
Total 2023
£'000
£'000
£'000
8
–
8
Unrestricted
Funds
Restricted
Funds
Total 2023
£'000
£'000
£'000
650
256
906		 Total 2022
£'000
505
Total 2022
£'000
11
8
–
8		 11
26
–
26
8
–
8		 19
11
34
–
34		 30

~~7~~ Other income

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~79~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~8~~ Analysis of expenditure

Group
2022/2023
Expenditure on:
Raising funds
Expenditure on raising donations and legacies
Expenditure on other trading activities
Charitable activities:
Donor Provision
Education and awareness
Research
Total expenditure
2021/2022
Expenditure on:
Raising funds
Expenditure on raising donations and legacies
Expenditure on other trading activities
Charitable activities:
Donor Provision
Education and awareness
Research
Total expenditure		 Activities
undertaken directly
Grant
funding of
activities
Support costs
(Note 10)
Total
costs
Staf
costs
Other
cost
Staf
costs
Other
cost
£'000
£’000
£'000
£'000
£’000
£'000
1,459
1,499
–
508
687
4,153
–
66
–
–
–
66
9,466
31,070
205
3,754
4,521
49,016
1,810
679
–
521
734
3,744
1,466
830
(54)
382
533
3,157
14,201
34,144
151
5,165
6,475
60,136
1,343
1,237
–
424
548
3,552
–
61
–
–
–
61
8,267
27,955
165
3,213
3,516
43,116
1,615
717
–
469
636
3,437
1,298
814
–
329
437
2,878
12,523
30,784
165
4,435
5,137
53,044

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~80~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~8~~ Analysis of expenditure (continued)

Charity
2022/2023
Expenditure on:
Raising funds
Charitable activities
Donor Provision
Education and awareness
Research
Total expenditure
2021/2022
Expenditure on:
Raising funds
Charitable activities
Donor Provision
Education and awareness
Research
Total expenditure		 Activities
undertaken directly
Grant
funding of
activities
Support costs
(Note 10)
Total
costs
Staf
costs
Other
cost
Staf
costs
Other
cost
£'000
£’000
£'000
£'000
£’000
£'000
1,459
1,499
–
508
687
4,153
9,466
31,070
205
3,754
4,521
49,016
1,810
679
–
521
734
3,744
1,466
830
(54)
382
533
3,157
14,201
34,078
151
5,165
6,475
60,070
1,343
1,237
–
424
548
3,552
8,267
27,955
165
3,213
3,516
43,116
1,615
717
–
469
636
3,437
1,298
814
–
329
437
2,878
12,523
30,723
165
4,435
5,137
52,983

The amount of irrecoverable VAT included in the group expenditure is £1,223k (2022: £1,027k) and charity expenditure is £1,222k (2022: £1,027k)�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~81~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~9~~ Analysis of grants

Analysis of grants
Group and Charity
2022/2023
Charitable activities:
Donor Provision
Research – write-back of unutilised grants
2021/2022
Charitable activities:
Donor Provision		 Grants to
institutions
Grants to
individuals
Support
costs
Total
costs
£’000
£'000
£'000
£'000
86
119
31
236
(54)
–
–
(54)
32
119
31
182
87
78
25
190
87
78
25
190

During the 2022/23 financial year £86k (2022: £87k) worth of grants were given to institutions:

£42k (2022: £42K) was given in the year to African-Caribbean Leukaemia Trust to recruit BAME donors�

£4k (2022: £4k) was given to Adrian Sudbury School Education Trust�

£40k (2022: Nil) was given to NHS Blood and Transplant as a contribution for stem cell projects as part of the Community Grant Programme�

No further grants were awarded in 2023 (2022: £20k was given to Kokni Muslim Association Birmingham to recruit BAME donors, £20k was given to Green Lane Masjid & Community Centre to recruit BAME donors, £1k was given to CLIC Sargent to improve cancer outcomes)�

£1,597k grant was awarded in 2017/18 to the University of Birmingham for the development, approval and delivery of a portfolio of clinical trials in the field of stem cell transplantation� £1,543k was utilised and £54k was written back in 2022/23�

During the 2022/23 financial year £119k (2022: £78k) worth of grants were given to individuals�

These grants were given to 385 (2022: 288) patients to help with the costs of lifestyle changes caused by treatment�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~82~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~10~~Analysis of support costs
Group and Charity
2022/2023
Expenditure on:
Raising funds
Charitable activities:
Donor Provision
Education and awareness
Research
Total support costs
2021/2022
Expenditure on:
Raising funds
Charitable activities:
Donor Provision
Education and awareness
Research
Total support costs		 Property
Finance and
Management
Human
Resources
Technology
Governance
Total
costs
£’000
£’000
£’000
£'000
£'000
£'000
182
182
144
642
45
1,195
1,125
2,012
888
3,971
279
8,275
199
150
157
700
49
1,255
143
116
113
507
36
915
1,649
2,460
1,302
5,820
409
11,640
160
150
90
531
41
972
1,005
1,581
561
3,328
254
6,729
187
147
105
619
47
1,105
128
108
72
426
32
766
1,480
1,986
828
4,904
374
9,572

Basis of the allocation of expenditure:

Where appropriate, expenditure, including depreciation, is allocated directly to the activity to which that expenditure relates� Expenditure which does not relate directly to an activity but are incurred to enable activities to occur are classified as support costs�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~83~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~11~~ Staff costs

The charity considers its key management personnel, as defined by FRS 102, to comprise the Trustees, the Chief Executive Officer and the members of its Strategic Leadership Team� All Trustees give their time freely and no one receives remuneration�

The average monthly number of persons employed by the group and charity
during the year (excluding trustees) was:
Charitable activities:
Donor provision
Education and awareness
Research
Raising funds
Staf costs for the above:
Wages and salaries
Social security costs
Pension costs
Staf restructuring costs
Staf costs are allocated in the group’s fnancial statements as follows:
Donor provision
Education and awareness
Research
Raising funds		 Group and
Charity
2023
No.
280
37
28
37
382
£'000
15,516
1,696
876
28
18,116
£'000
13,220
2,331
1,848
1,967		 Group and
Charity
2022
No�
258
37
26
33
354
£'000
13,696
1,423
765
–
15,884
£'000
11,480
2,084
1,627
1,767
19,366 16,958

Included in the allocated staff costs (note 8), in addition to payroll costs are the costs of funding academic positions of £26k (2022: £21k); staff benefit costs of £170k (2022: £153k); NHS secondment and other similar costs of £970k (2022: £943k), other staff costs of £62k (2022: £77k)� There was also an increase of staff holiday provision of £22k (2022: decrease £120k)�

Remuneration and benefits received in the year by key management personnel, including employer’s National Insurance contributions, were £1,041k (2022: £964k)�

Restructuring staff costs in 2023 were £28k (2022: Nil), which included £15k to the former Chief Engagement and Marketing Officer, a member of the Strategic Leadership Team (page 3), which was in excess of the amounts agreed through the original contract of employment�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~84~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~11~~ Staff costs (continued)

Staf costs (continued)
Group and Group and
Charity Charity
The number of employees whose emoluments for the year fell within the following ranges was: 2023 2022
No. No�
£60,001 to £70,000 16 15
£70,001 to £80,000 4 6
£80,001 to £90,000 3 –
£90,001 to £100,000 2 2
£100,001 to £110,000 – 2
£110,001 to £120,000 2 1
£120,001 to £130,000 1 –
£130,001 to £140,000 – 1
£140,001 to £150,000 1 –

The group made contributions to money purchase pension schemes on behalf of all employees whose emoluments exceeded £60,000, and the total contributions payable during the year amounted to £148k (2022: £123k)�

Travel expenses claimed by Trustees were £168 in 2023 (2022: Nil)�

~~12~~ Other costs

Other costs
2023 2022
Net movement in funds is stated after charging: £'000 £'000
Depreciation:
Charge for the year 1,030 475
Stock: amounts expensed during the year 1,878 1,860
Research and development expenditure 2,242 2,112
Operating lease rentals:
Land and buildings 465 431
Plant and machinery 29 18
Auditor’s remuneration:
Statutory Audit fees payable to
BDO LLP (Charity £58k (2022: £45k)) 62 49
Grant assurance fees payable to
BDO LLP – 3
Tax compliance services payable to
BDO LLP 12 5
Advisery services payable to 2 –
BDO LLP

The group and the charity have an insurance policy that provides professional indemnity insurance cover for the trustees� The cost of this insurance for the year was £3k (2022: £5k)�

During the year to 31 March 2023, the group accounted for net foreign exchange losses of £116k (2022: £9k net gains)�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~85~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~13~~Tangible assets
Group and Charity
Cost:
1 April 2022
Additions
Disposals
31 March 2023
Depreciation and disposals
1 April 2022
Charge for the year
Disposals
31 March 2023
Net book value:
31 March 2023
31 March 2022		 Leasehold buildings
Leasehold
improvements,
fxtures
and fttings
Ofce
equipment
Computer
software
costs
Laboratory
equipment
Total
Long
term
Short
term
£’000
£’000
£’000
£'000
£’000
£'000
£’000
1,842
137
1,570
184
4,101
3,465
11,299
–
–
177
1
84
497
759
–
–
–
(1)
–
(233)
(234)
1,842
137
1,747
184
4,185
3,729
11,824
647
94
1,257
163
2,478
2,649
7,288
16
6
118
16
610
264
1,030
–
–
–
(1)
–
(233)
(234)
663
100
1,375
178
3,088
2,680
8,084
1,179
37
372
6
1,097
1,049
3,740
1,195
43
313
21
1,623
816
4,011

Certain leasehold buildings are used, when surplus to the group’s and the charity’s requirements, to generate rental income under operating leases�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~86~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~14~~Investments
Funds held in managed portfolios
Valuation at 1 April
Acquisition at cost
Sale of investments
Income received
Net gains/(losses) on revaluation
Investment management costs
Valuation at 31 March		 Group
2023
£’000
–
–
–
–
–
–
-		 Group
2022
£’000
1
–
(1)
–
–
–
–		 Charity
2023
£'000
–
–
–
–
–
–
–		 Charity
2022
£’000
1
–
(1)
–
–
–
–
~~15~~Stocks
Raw materials and consumables
~~16~~Debtors
Amounts falling due within one year:
Trade debtors
Amounts due from group undertakings
Qualifying Charitable donation receivable from
group undertakings
Other debtors
Prepayments and accrued income		 Group
2023
£’000
572
Group
2023
£’000
8,233
–
–
80
5,316
13,629		 Group
2022
£’000
512
Group
2022
£’000
5,994
–
–
20
4,722
10,736		 Charity
2023
£'000
572
Charity
2023
£'000
8,218
182
26
80
5,304
13,810		 Charity
2022
£’000
512
Charity
2022
£’000
5,994
198
9
20
4,706
10,927

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~87~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~17~~ Cash

Cash
Group Group Charity Charity
2023 2022 2023 2022
£’000 £’000 £'000 £’000
Cash at bank and in hand 5,641 9,518 5,386 9,226

~~18~~ Creditors: amounts falling due within one year

Trade creditors
Other creditors
Other taxation and social security costs
Accruals and deferred income
Grants payable		 Group
2023
£’000
4,590
144
428
3,922
–
9,084		 Group
2022
£’000
2,567
124
413
5,472
159
8,735		 Charity
2023
£'000
4,586
144
428
3,912
–
9,070		 Charity
2022
£’000
2,554
124
413
5,444
159
8,694

The charity is party to a Group VAT registration with its subsidiary undertakings� At 31 March 2023 the amount due to the Charity under this arrangement in respect of the group companies was £10k (2022: £20k due to HMRC)�

~~19~~ Grants payable

Grants brought forward
Additions
Payments
Write-back of grants
Grants carried forward
Grant payable within one year		 Group
2023
£’000
159
205
(310)
(54)
–
–		 Group
2022
£’000
786
165
(792)
–
159
159		 Charity
2023
£'000
159
205
(310)
(54)
–
–		 Charity
2022
£’000
786
165
(792)
–
159
159

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~88~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~20~~ Movements in deferred income

Movements in deferred income
Deferred income at beginning of the year
Income recognised in the year
Income deferred in the current year
Deferred income at the year end		 Group
2023
£’000
327
(326)
70
71		 Group
2022
£’000
594
(593)
326
327		 Charity
2023
£'000
306
(306)
66
66		 Charity
2022
£’000
574
(573)
305
306

Deferred income comprises income received in respect of future fundraising events�

~~21~~ Provisions for liabilities and charges

As at 1 April
New provisions
As at 31 March		 Group
2023
£’000
648
–
648		 Group
2022
£’000
604
44
648		 Charity
2023
£'000
648
–
648		 Charity
2022
£’000
604
44
648

A provision for dilapidations is being carried in the balance sheets of the group and the charity in respect of the estimated costs of unavoidable reinstatement and refurbishment works relating to certain leasehold properties that are currently occupied by the charity for its own use� This provision was created in 2004, added to in 2017 (£200k) and recalculated in 2021 and 2022 following lease negotiations� It is now expected to be utilised at the earliest in 2024�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~89~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~22~~ The funds of the Group and the Charity

Group
Restricted income funds
Voluntaryincome
Donor Campaign and Processing Fund
Donor Provision Fund
Research Projects Fund
Laboratory Equipment Fund
Patient Experience Fund
Transplant Service Improvement Fund
Scientifc Research Funds
Total restricted funds
Unrestricted income funds
General Fund
Total funds		 Balance at
1 Apr 2022
£’000
126
118
18
–
101
316
679
527
1,206
14,188
15,394		 Income
£’000
143
88
61
102
352
162
908
256
1,164
57,428
58,592		 Expenditure
£’000
(126)
(185)
(56)
–
(216)
(478)
(1,061)
(221)
(1,282)
(58,854)
(60,136)		 Gross
transfers
between
funds
£’000
–
–
–
–
–
–
–
(58)
(58)
58
–		 Balance at
31 Mar 2023
£’000
143
21
23
102
237
–
526
504
1,030
12,820
13,850

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~90~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~22~~ The funds of the Group and the Charity (continued)

Group
Restricted income funds
Voluntaryand statutoryincome
Donor Campaign and Processing Fund
Donor Provision Fund
Research Projects Fund
Laboratory Equipment Fund
Patient Experience Fund
Transplant Service Improvement Fund
Scientifc Research Funds
Total restricted funds
Unrestricted income funds
General Fund
Total funds		 Balance at
1 Apr 2021
£’000
97
221
–
1
85
–
404
447
851
14,048
14,899		 Income
£’000
126
77
44
2
254
373
876
265
1,141
52,398
53,539		 Expenditure
£’000
(97)
(180)
(26)
–
(238)
(57)
(598)
(185)
(783)
(52,261)
(53,044)		 Gross
transfers
between
funds
£’000
–
–
–
(3)
–
–
(3)
–
(3)
3
–		 Balance at
31 Mar 2022
£’000
126
118
18
–
101
316
679
527
1,206
14,188
15,394

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~91~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~22~~ The funds of the Group and the Charity (continued)

Charity
Restricted income funds
Voluntaryand statutoryincome
Donor Campaign and Processing Fund
Donor Provision Fund
Research Projects Fund
Laboratory Equipment Fund
Patient Experience Fund
Transplant Service Improvement Fund
Scientifc Research Funds
Total restricted funds
Unrestricted income funds
General Fund
Total funds		 Balance at
1 Apr 2022
£’000
126
118
18
–
101
316
679
527
1,206
14,128
15,334		 Income
£’000
143
88
61
102
352
162
908
256
1,164
57,362
58,526		 Expenditure
£’000
(126)
(185)
(56)
–
(216)
(478)
(1,061)
(221)
(1,282)
(58,788)
(60,070)		 Gross
transfers
between
funds
£’000
–
–
–
–
–
–
–
(58)
(58)
58
–		 Balance at
31 Mar 2023
£’000
143
21
23
102
237
–
526
504
1,030
12,760
13,790

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~92~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~22~~ The funds of the Group and the Charity (continued)

Charity
Restricted income funds
Voluntaryand statutoryincome
Donor Campaign and Processing Fund
Donor Provision Fund
Research Projects Fund
Laboratory Equipment Fund
Patient Experience Fund
Transplant Service Improvement Fund
Scientifc Research Funds
Total restricted funds
Unrestricted income funds
General Fund
Total funds		 Balance at
1 Apr 2021
£’000
97
221
–
1
85
–
404
447
851
13,988
14,839		 Income
£’000
126
77
44
2
254
373
876
265
1,141
52,337
53,478		 Expenditure
£’000
(97)
(180)
(26)
–
(238)
(57)
(598)
(185)
(783)
(52,200)
(52,983)		 Gross
transfers
between
funds
£’000
–
–
–
(3)
–
–
(3)
–
(3)
3
–		 Balance at
31 Mar 2022
£’000
126
118
18
–
101
316
679
527
1,206
14,128
15,334

Restricted funds

Donor Campaign and Processing Fund : in 2022/2023 the charity received various grants to cover volunteer courier operations�

Donor Provision Fund: in 2022/23 the charity received various grants to recruit and type to high resolution male donors aged between 16 and 30 years and BAME donors�

Patient Experience Fund was created in 2014/15 for the purposes of supporting post transplant patients� 2022/23 grants were mainly to fund positions of patient nurses in UK Transplant Centres and support patients’ grant scheme�

Transplant Service Improvement Fund was created in 2021/22 to digitise and streamline services to the transplant centres, was added to and fully utilised in 2022/23�

The biggest donor to the Donor Campaign and Processing Fund and Patient Experience Fund was RSM UK, contributing £247k in 2022/23 (2021/22: £219k)�

Donations and grants received to fund the purchase of specific items of laboratory equipment for either research or histocompatibility laboratories are credited to the Laboratory Equipment Fund � When the specified asset is purchased and there is no on-going restriction over its use, the value of the asset is transferred to the general fund�

The depreciation of the asset is charged to the General Fund over the life of the asset�

The Scientific Research Fund and the Research Projects Fund are set up to recognise income received annually in the form of a number of different grants awarded for specific research projects in immunogenetics and related fields� The cost of undertaking these research projects is allocated to the funds, with unspent monies being carried forward into 2023/2024�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~93~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~23~~ Analysis of net assets between funds

Fund balances at 31 March 2023
Group
Restricted income funds
Unrestricted income funds: General Fund
Net Assets
Charity
Restricted income funds
Unrestricted income funds: General Funds
Net Assets
Fund balances at 31 March 2022
Group
Restricted income funds
Unrestricted income funds: General Fund
Net Assets
Charity
Restricted income funds
Unrestricted income funds: General Funds
Net Assets		 Fixed assets
Net current
assets
Creditors over
1 year and
provisions for
liabilities and
charges
£’000
£’000
£’000
–
1,030
–
3,740
9,728
(648)
3,740
10,758
(648)
–
1,030
–
3,740
9,668
(648)
3,740
10,698
(648)
–
1,206
–
4,011
10,825
(648)
4,011
12,031
(648)
–
1,206
–
4,011
10,765
(648)
4,011
11,971
(648)		 Total
£’000
1,030
12,820
13,850
1,030
12,760
13,790
1,206
14,188
15,394
1,206
14,128
15,334

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~94~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~24~~ Commitments under operating leases

The Charity as a lessee:
The total future minimum lease payments under
non-cancellable operating leases, which are calculated
based on rent notice period, are as follows:
Land and buildings
Amounts due
Within one year
Between one and fve years
Plant and machinery
Amounts due
Within one year
Between one and fve years
The total future minimum service charge payments
are as follows:
Land and buildings
Amounts due
Within one year
Between one and fve years
The Charity as lessor:
At the year end, the Charity had contracted with tenants,
under non-cancellable operating leases, for the following
future minimum lease payments:
Amounts receivable:
Less than one year		 Group
2023
£’000
460
25
21
14
520
126
61
187
75
75		 Charity
2022
£’000
460
433
15
–
908
125
111
236
75
75		 Charity
2023
£’000
460
25
21
14
520
126
61
187
75
75		 Charity
2022
£’000
460
433
15
–
908
125
111
236
75
75

The operating leases represent lease of 65% of Research facility to a third party� The lease is negotiated over terms of 73 years (2022: 74 years)�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~95~~

Anthony Nolan and Subsidiary Undertaking

Notes to the Financial Statements For the year ended 31 March 2023

~~25~~ Pension commitments

The group and the charity make contributions into defined contribution pension schemes on behalf of certain employees� The assets of the schemes are held separately from those of the group and the charity in independently administered funds� The amount charged to the Statement of Financial Activities in respect of pension costs (as shown in note 11) is the total contributions payable for the period� The amount payable at 31 March 2023 is £138k (2022: £121k)�

~~26~~ Capital commitments

Capital commitments
Group 2023 Group 2022 Group 2023 Group 2022
£’000 £’000 £’000 £’000
Capital commitments – contracted for, but not provided – - - -

~~27~~ Related parties transactions

Anthony Nolan Trading Limited (ANTL) is a wholly owned subsidiary of Anthony Nolan�

During 2022/23 Anthony Nolan received income of £52k from ANTL, which is made up of qualifying charitable donation £26k and management charge £26k (2021/22 income of £28k: qualifying charitable donation £9k and management charge £19k)�

The nature of transfers to/from the subsidiary covers the following areas:

ANTL debtor balance at 31 March 2023 was £208k (31 March 2022: £207k)�

During FY 2022/23 a related party transaction was made as noted in staff costs – note 11�

Anthony Nolan Annual Report and Financial Statements 2022/23 ~~96~~

Our vision

A future where every patient who needs us can survive and thrive.

Find out more at anthonynolan.org

Anthony Nolan, 2 Heathgate Place, 75–87 Agincourt Road London NW3 2NU • 0303 303 0303

3018FI 06/23

Reg charity no 803716/SC038827