COMPANY REGISTRATION NUMBER: N1631937 CHARITY REGISTRATION NUMBER.. 105452 Leukaemia and Lymphoma Nl Company Limited by Guarantee Financial Statements 31 March 2023 Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN Leukaemia and Lymphoma Nl Company Limited by Guarantee Financial Statements Year ended 31 March 2023 Page Trustees, annual report (incorporating the director's report) Independent auditor's report to the members Statement of financial activities (including income and expenditure account) 12 Statement of financial position 13 Statement of cash flows 14 Notes to the financial statements 15 Leukaemia and Lymphoma Nl Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 March 2023 The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2023. Reference and administrative details Registered charity name Leukaemia and Lymphoma Nl Charity registration number 105452 Company registration number N1631937 Princlpal office and registered Patrick G Johnston Centre for Cancer Research and Cell Biology 97 Lisburn Road Belfast BT9 7AE office The trustees Mr R Buchanan Mr M Cafolla Ms L Cascone Mr R Cascone Mr G Coulter Ms A Kearney Professor T Lappin Dr D Montgomery Professor T Morris Ms S Napier (Appointed 9 August 2023) (Appointed 8 August 2023) Auditor Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN Bankers Danske Bank POBox183 Donegall Square West Belfast BT16JS Solicitors Edwards & Co 28 Hill Street Belfast BT12LA Leukaemia and Lymphoma Nl Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2023 Structure• governance and management The directors have pleasure in submitting their annual report together with the audited financial statements of LLNI for the year ended 31 March 2023. The directors have adopted the provisions of the Charities SORP {FRS 102) in preparing their annual report and financial statements of the charity. Legal and administrative information on page 1 forms part of this report. The Charity is governed by a board of 10 directors. Their task, in conjunction with senior management and company secretary, is to oversee the administration of the Charity, safeguard its assets and resources to ensure that they are used solely in the furtherance of the objectives of the charity, and to act in the best interesls of the charity at all times. Board meetings typically take place bi-monthly, with extraordinary meetings held when necessary. All Trustees give of their time freely and none received remuneration or expenses. No staff are employed directly by the charity instead LLNI pays grants to Queen's University towards the salaries of employees working for LLNI. Risk management The major risks to which LLNI would be exposed are centred around the following areas.. i. Misuse and misappropriation of funds coupled with poor financial controls. The funds to support research are carefully Controlled by the Board of LLNI, which received a financial report by the honorary treasurer at each meeting of the Board which meets several times a year under the Chairmanship of Mr Richard Buchanan. ii. Lack of proper public liability insurance to cover fund raising activities by members and the possibility of legal action against members. Members. fund raising activities are covered for public liability by LLNI'S insurance brokers. Members have been circularised that any activity which has the slightest element of risk must have the approval of the insurers before proceeding. High risk activities are not permitted. Objectives and activities LLNI'S objective is to raise money to finance appropriate research into the causes and p055ible cures for leukaemia. lymphoma, myeloma and other associated blood cancers. This research is controlled, supervised and vetted by LLNI'S Medical Advisory Committee (MAC) under the Chairmanship of Professor P Maxwell, assisted by a group of eminent academics. Research projects are carefully scrutinised and "peer reviewed" by the MAC before any recommendations are made within the budgetary confines of LLNI. Strategic report The following sections for achievements and performance and financial review form the strategic report of the charity. Leukaemia and Lymphoma Nl Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) {contlnuedJ Year ended 31 March 2023 Achievements and performance 1. This has been a very positive year for the charity where we have seen some fundraising activities returning to pre-covid times. Our overall income has increased to £682,270 thus allowing us to maintain funding for vital blood cancer research here in Belfast at the Patrick G Johnston Centre for Cancer Research {PGJCCR). The operating environment remains challenging with so many of our supporters under increased financial pressure from the wider economic situation, so there is no room for complacency. We need to continue to think of innovative ways of raising funds, and seek to keep building our overall supporter base. 2. LLNI is fully committed to its core mission of raising money to fund blood cancer research, to improve survival rates and quality of life for blood cancer patients. We are the only charity in Northern Ireland solely focused on this. We do this by supporting clinicians, scientists and students researching these cancers in Northern Ireland. This takes place under the oversight of the LLNI directors, who make up our board and who do it on a voluntary (non-remunerated} basis. We meet every six to eight weeks to review all areas of business, with particular focus on finance, fundraising, progress with the science and an overview of the governance of the charity. During the past year we have been able to return to meeting face to face, with a virtual option, which is a positive development. The board remains particularly focused on ensuring that we are complying fully with relevant legislation and guidance from the Charity Commission for Northern Ireland. Good governance is key to the smooth and effective running of any charity, and we are no exception. 3. The board relies on the Scientific and Medical Advisory Committee (SMAC), chaired by Dr Patrick Morrison to advise on which research applications should be supported, and thus optimise decision making. We will always consider alternative orjoint means of funding, in a constant drive to make best use of our funds. 4. Our income this year was significantly boosted by a grant we received from the Medical Research Council through the Association of Medical Research Charities {AMRCI. A total of £360,534 was received to support a number of ongoing projects that the charity has been funding. We were eligible for this funding due to the high volume of posts we create for early career scientists, this money will ensure that we can continue to create more opportunities for scientists at this level. It is really pleasing to receive this funding which increases the number of young scientists involved with blood cancer research locally. most of whom we hope will continue in the field for a full career. 5. We are a highly efficient charity, with a very large proportion of money raised being spent directly on the science. Our relationship with Queen's University is immensely valuable to LLNI, and also, we believe to Queen's. We have a small ofFice in the PGJCCR, which enables LLNI to maintain a very strong relationship with Professor Ken Mills and the scientists, as well as making it much easier to show supporters and fundraisers the direct link between their support and the research. We are extremely grateful to the management team at the PGJCCR for their ongoing support for LLNI and its fundraising for blood cancer research. 6. The day to day running of the charity is looked after by Operations Manager Joanne Badger and the support leam of Claire Gilmore and Collette Mcmorrow. All of the team do an outstanding job both in the office, through raising awareness and support on social media and supporting in person around the country at events and with supporters. It makes a real difference to have our office based in the same building where much of our funded research is taking place, allowing us to easily demonstrate to supporters exactly where the money raised is going and to introduce the scientists we fund. 7. Our fundraisers are key to what we do and have been brilliant during the last year. To mention but a few we have had family celebrations, comedy nights, golf tournaments, coffee mornings. dance Classes, concerts, tractor runs, sky dives, abseils, beach walks and even an art exhibition. Many Leukaemia and Lymphoma Nl Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) fcontlnued) Year ended 31 March 2023 fundraisers made use of social media to either raise money directly or to publicise their own events, often with our support. Social media is of course key to fundraising and our income via online platforms continues to increase. A special mention must go to LLNI Director Brigid Napier who nominated LLNI as the Law Society Charity of the Year, with this partnership and a calendar of fundraising events raised over £18,000.00 8. Ken Reid, formerly of UTV and a very well-known figure in the Northern Irish media has continued to be our Patron and has really helped us with publicity around our activtties, and in sharing our content on social media He is genuinely interested in what we do and has himself suffers from a chronic leukaemia so he understands the importance of the science that we fund. It is brilliant to have him with us, and we're really grateful to him for sparing the time. 9. Overall, Leukaemia and Lymphoma Nl is in good shape thanks to Joanne Badger and the office team. and thanks to the input and expertise from our board. Of course we could not fund anything without our wonderful fundraisers, and a huge thank you lo them too. We know times are tough for so many at present, so thank you all for your continued support. as we keep supporting the scientists working to make blood cancer history. Financial review Details of the results for the period are set out in the statement of financial activities on page 11 and in the related notes on pages 14 to 22. Investment policy and returns LLNI'S investments are managed by Smith & Williamson Stockbrokers Belfast and were valued at £698.411 as at 31 March 2023. During the past financial period, we have received dividend income from these investments totalling £18,880. Reserves The Directors have reviewed the resources of LLNI taking into consideration the variable natures of its income and the need to fulfil the fixed commitment of grants to Queen's University as formalised and confirmed to the University for the period 1 October to 30 September in each year. General reserves at 31st March were £137,082, which represent over 10 months core expenditure. The Board are committed to retaining a minimum level of general reserves to cover for six months of day to day running costs of the charity. Leukaemia and Lymphoma Nl Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 March 2023 Trustees. responsibilities statement The constitution of Leukaemia & Lymphoma Nl requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of LLNI and of the surplus or defictt of LLNI for that period. In preparing those financial statements, the trustees are required to.. select suilable accounting policies and then apply them consistently., make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that LLNI will continue in business. The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of LLNI and to enable them to ensure that the financial statements comply with the Charities Act (Northern Ireland) 1964 and the Charities {Northern Ireland) Order 1987. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of LLNI and to prevent and detect fraud and other irregularities. The trustees of the Charity who held office at the date of approval of these financial statements, as set out on page 1, each confirm so far as we are aware that.. there is no relevant audit information of which the Charity's auditors are unaware., and we have taken all the steps that we ought to have taken as trustees in order to make ourselves aware of any relevant audit information and to establish that the Charity's auditors are aware of that infomiation. Auditor The trustees, annual report and the strategic report were approved on 14 November 2023 and signed on behalf of the board of trustees by-. Mr R Buchanan Trustee Leukaemia and Lymphoma Nl Company Limited by Guarantee Independent Auditor's Report to the Members of Leukaemia and Lymphoma Nl Year ended 31 March 2023 Opinion We have audited the financial statements of Leukaemia and Lymphoma Nl (the 'charity') for the year ended 31 March 2023 which comprise the statement of financial activilies (including income and expendilure account), statement of financial position, statement of cash flows and the related notes, including a summary of signrficant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Stsndards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements= give a true and fair view of the state of the charity's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; have been prepared in accordance with the requirements of the Companies Act 2006. 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 auditovs responsibilities for the audit of the financial ststements section of our report. We are independent of the charity in accordance with the elhical requirements that are 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 15 sufficient and appropriate to provide a basis for our opinion. Conclusions relating 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 charity's ability to continue as a going concern for a period of at least twelve 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. Leukaemia and Lymphoma Nl Company Limited by Guarantee Independent Auditor's Report to the Members of Leukaemia and Lymphoma Nl (¢ontinuedJ Year ended 31 March 2023 Other Information The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other infonnation and, except to the extent othemise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statemenls, 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 identtfy such material inconsistencies or apparent material misstatements. we are required to detemiine whether there is a material misstatement in the financial statements or a material misstatement of the olher 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. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the truslees, report for the financial year for which the financial statements are prepared is consistent with the financial statements.. and the trustees, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misststements in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you rf, in our opinion= adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us- or the financial statements are not in agreement with the accounting records and returns.. or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the informalion and explanations we require for our audit. Leukaemia and Lymphoma Nl Company Limited by Guarantee Independent Auditor's Report to the Members of Leukaemia and Lymphoma Nl (continued) Year ended 31 March 2023 Responsibilities of trustees As explained more fully in the truslees, responsibilities statement, the trustees {who are also the directors for the purposes of company lawl 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 determine 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 charity'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 charity or to cease operations, or have no realistic alternative but to do so. Leukaemia and Lymphoma Nl Company Limited by Guarantee Independent Auditor's Report to the Members of Leukaemia and Lymphoma Nl {continued) Year ended 31 March 2023 Auditorfs responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatemenl, 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 laken on the basis of these financial statements. Irregularities, including fraud, are instances of non