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Annual Report and Financial Statements for the Year Ended 30th June 2019

TO G E T H E R W E W I L L F I N D A C U R E

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Contents

Chairman’s Report

Reference and Administrative Information

Chairman’s Report

Chief Executive’s Report

Scientific & Medical Advisory Board Report

5-6

Trustees’ Annual Report

7-26

Trustees’ Responsibilities

Independent Auditor’s Report

28-29

Statement of Financial Activities

Balance Sheet

Statement of Cash Flows

Notes to the Financial Statements

33-45

When my fellow founders and I set up Brain Tumour Research ten years ago, we knew we were setting ourselves a monumental challenge to find a cure for brain tumours. However, as we celebrate our 10th anniversary, whilst appreciating all that still needs to be done, we can also look back with pride on all we have achieved! The Brain Tumour Research model is unique in two ways and both are proving to be invaluable and great contributors to our success. Our centre-based research-funding model to create a network of experts in sustainable brain tumour research has been supported by the Report of the Task and Finish Group on Brain Tumour Research. What’s more, our Centres are leveraging funding from other grant making bodies such as the unprecedented £1.5 million award from the Barts Charity to add to the work at our Centre at Queen Mary University in London. This feeds directly to our goal of increasing the national Help us investment in brain tumour research to £35 million a year. reach our

£35 million national investment goal

Similarly, our Member Charity model which gives representation and voice to hundreds across the sector has been instrumental in shining a spotlight on the historical underfunding and ensuring that brain tumours are high on the political agenda.

Against the background of continuing Brexit uncertainty, international trade tensions and a decade of austerity combining to create a challenging fundraising environment, I am delighted that we have been able to grow our income by 7% to £3.6m. Reference and Administrative Information Registered Charity Number 1153487 (England and Wales) Registered Charity Number SC046840 (Scotland) Registered Company Number 08570737 Registered Office and Headquarters Suite 3, Shenley Pavilions, Chalkdell Drive, Shenley Wood, Milton Keynes MK5 6LB Telephone number: 01908 867200 Website: www.braintumourresearch.org Email: info@braintumourresearch.org

Trustees Wendy Fulcher (Chairman) D.M. Sandy Saunders RD (President) Jeremy Aron Nigel Boutwood Rob Hughes Gerard Kelly Stuart McKay Stephen Painter (resigned 15th October 2018) Jessica Ranft Margaret Stockham Turner PhD Bank Nat West, 1 Penn Road, Beaconsfield, Bucks HP9 2PU

Auditors Sayer Vincent LLP, Invicta House, 108-114 Golden Lane, London EC1Y 0TL

Senior Leadership Team Chief Executive – Sue Farrington Smith MBE Director of Fundraising and Marketing – Robin Meltzer MlnstF (Dip) Director of Finance and Operations – Ashley Bailey ACMA Scientific and Medical Advisory Board Prof Garth Cruickshank MBBS PhD FRCS(Ed), FRCS (Eng), FRCS(SN) (Chair) Dr Verena Amberger-Murphy Prof Anthony J Chalmers Prof Dr Christel Herold-Mende Dr Neil Kad Dr Sean Lawler Prof Steven M. Pollard Prof Dr Paolo Salomoni Dr Khalid Shah Prof Tracy Warr

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

In addition to regular Trustee meetings, during this anniversary year, the Trustees took the opportunity to take stock and revisit the Charity’s strategy and concluded that we should continue to grow our income to help increase sustainable research into brain tumours in the UK and continue our effective campaigning. As ever, our success is the result of the hundreds of loyal supporters, fundraisers, activists and volunteers who help to champion our cause, engaging their networks and raising much needed funds. Indeed, we are immensely proud of our progress to date and our contribution to brain tumour research, remaining fully aware that every day, lives are still being devastated and many people are living without hope because of a brain tumour diagnosis. We are determined to change this. As always, on behalf of the Board of Trustees, I want to thank everyone who has contributed to our work and mission to date. We look forward to continuing working with you and others to build on our success and make further progress towards our ambitious vision. Together we will find a cure.

Wendy Fulcher, Co-Founder and Chairman

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Chief Executive’s Report

Scientific and Medical Advisory Board (SMAB) Report

Over the past 10 years I have met many devastated, angry and determined people, determined to make a difference. Determined to join others in helping to fund the fight and find a cure for this devastating disease.

Brain Tumour Research has a unique approach to funding research through supporting its network of linked Centres enhancing and growing the UK’s potential for discovering cures for a variety of brain tumours, all of which can have such a dramatic impact on patients and their families. The aim is to enable these Centres of Excellence to conduct laboratory research in cellular and molecular mechanisms of these tumours and their diagnosis through to ground-breaking novel treatments. This is a dynamic process that needs a critical mass of like-minded researchers with a wide expertise to deliver over time, rather than short-term programmes which have failed in the past.

As we enter our 10th anniversary year we are proud that brain tumour research and improved outcomes for patients has a higher profile than ever before. This would not have happened without the brain tumour community speaking with one voice and the backing our supporters have given to our vital campaigning work. But, of course, there remains much more to do! When we launched Brain Tumour Research in 2009, as a collaboration of 14 brain tumour charities coming together, we were determined to raise awareness and increase funding for vital research. Despite brain tumours being the leading cause of cancer deaths in children, brain tumour research was and sadly remains woefully underfunded, receiving just 1% of the national spend on cancer research in the UK since records began in 2002. Our campaigning has shone a spotlight on the historic underfunding and led to an increase in national investment in research into brain tumours. In April we launched our 2025 ‘Find a Cure’ manifesto calling for the national investment in brain tumour research to increase to £35 million a year in line with breast cancer and leukaemia. We plan to continue to grow our own contribution to UK research and as a significant player, along with the support of our member and fellow charities will raise further awareness and grow the market for brain tumour research. It is only through increased investment that we will find a cure. Brain tumours are complex and the blood brain barrier which protects the brain contributes to current treatments being ineffective. We are building capacity and transforming research into brain tumours in the UK through our dedicated Brain Tumour Research Centre strategy – a legacy of Professor Geoffrey Pilkington (lead of our first Centre at the University of Portsmouth) who retired in January after a career devoted to brain tumour research. An ardent campaigner, Geoff was the first to highlight many of the issues which still need addressing. The brain tumour community has much to thank Geoff for and we wish him a long, happy and healthy retirement.

The key role of the SMAB is to provide Brain Tumour Research with independent evidence, expert interpretation and experiential advice about current and future projects. As well as rating often complex research ideas in the context of the body of brain tumour research, the SMAB is asked to help identify key areas across the Centres which form the core measures that allow the SMAB to assure the Charity that high quality peer reviewed research is being performed in these Centres. The expert panel reviews reports and output data from the research teams and also visits and interviews the scientists directly to gain the necessary insight to provide the best and most reliable feedback to Brain Tumour Research. The Centres at Queen Mary University London (QMUL), Imperial College, London, and at the Universities of Portsmouth and Plymouth, as well as the BRAIN UK virtual tissue bank at Southampton University, have all

now received a rigorous 2019 SMAB assessment. The SMAB has recognised areas of excellence and areas where more intensive support is needed and made their recommendations. The panel of experts have been impressed by the approach to supporting young researchers and to the long-term commitment of the Centres from their host universities. The research the Charity is funding is having a considerable impact. One measure of this is the ongoing and continual publication of scientific papers by the researchers in leading academic journals. This record of research results from the Centres is coupled to impact factors showing notable areas to be performing at a world-class level – for example, in the molecular classification of meningiomas and acoustic neuromas.

I also want to recognise the work of our Patron, the Rt Hon John Bercow, who as my MP led the first ever House of Commons debate on brain tumours in 2004 and established the Brain Tumour All Party Parliamentary Group in 2005. As Speaker he continued his valuable support including sponsoring our annual Speaker’s House event. In October 2019 he retired as Patron; we wish him very success with his future and will always be indebted to him.

...continued >

We couldn’t do what we do without the tremendous support of brain tumour patients, their families, our Trustees, researchers, patrons, celebrity supporters, volunteers and my great team at Brain Tumour Research. There isn’t a day goes by when we don’t think of the many loved ones lost to this devastating disease. Members of my team feel personally connected and saddened at the loss of those very brave people we have come to love and admire. They inspire us and keep us motivated to fight this dreadful disease – keep fighting we will.

HELP US

Together we will find a cure.

to continue to fund long-term, life-saving research

Sue Farrington Smith MBE, Co-Founder and Chief Executive

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Scientific and Medical Advisory Board (SMAB) Report)

We are building a network of experts in sustainable research at dedicated Centres of Excellence

Over 23,000 supporters and 22 Member Charities, between us raising £6.3 million

Trustees’ Annual Report The Trustees of Brain Tumour Research, who are also directors of the Charity for the purposes of the Companies Act, present their annual report and audited financial statements for the year ended 30th June 2019.

OBJECTIVES AND ACTIVITIES Our aims

The QMUL team are working on a clever epigenetic method of analysing tumours and non-tumour tissue to determine new targets for drug treatments. The Centre at Imperial recently published a paper showing results indicating an increased therapeutic efficacy of the brain tumour drug temozolomide in attacking glioblastoma as a result of an innovative encapsulation strategy. The team in Portsmouth have been looking at the repurposing of existing drugs to treat brain tumours and are also investigating fundamental interactions between mitochondrial and nuclear DNA that determine tumour behaviour. The BRAIN UK initiative database catalogues over 120,000 tumour tissue samples held across the network of NHS and Academic Pathology Centres in the UK. The facility acts as a “matchmaker,” linking suitable molecularly characterised human brain tissue samples to researchers investigating a range of neurological diseases, including brain tumours. To date, over 3,200 tissue samples have been released for research projects. These tissue samples offer almost complete coverage of the UK population and as such is a globally-unique population-wide resource. Research can only happen if there are tumour samples for the researchers to study. The University of Plymouth also houses one of Brain Tumour Research’s Centres of Excellence, a leading low-grade brain tumour research facility. It also has its own Brain Tissue Biobank, which has grown significantly to over 300 samples, 98.7% of

which are low-grade. The focus is on meningioma and schwannoma, with some astrocytoma and ependymoma. In order to support their current research, they are also collaborating with BRAIN UK and are receiving further glioma/astrocytoma samples from neuropathology departments across the UK. An exciting element of the Centre-funding approach is the leverage it offers researchers to access local university and clinical research funding, as well as enhancing their ability to compete for national funds from grant giving bodies. This amplifies the impact of the funding Brain Tumour Research provides and gives yet more assurance that funds are being well spent. This is a crucial strategy that donors should not only be enthused by but also reassured that our approach is innovative, transparent, responsible and effective. The SMAB cannot predict and dictate the course of research nor guarantee results, but it can ensure that good ideas are explored rigorously and appropriately so that the Brain Tumour Research Centres of Excellence contribution to the world research effort in brain tumours moves us closer to the goal of a cure.

Professor Garth Cruickshank MBBS PhD FRCS(Ed), FRCS (Eng), FRCS(SN) Chair of Brain Tumour Research, Scientific and Medical Advisory Board

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Our vision is to find a cure for brain tumours, and our mission is to build a network of experts in sustainable brain tumour research. We also work with Parliamentarians to raise awareness about brain tumours and to influence national cancer policy at the highest levels as we campaign to increase national investment for research into this devastating disease to £35m per annum and bring parity to other cancers such as breast and leukaemia. We believe that with sustainable long-term funding covering the key salaried positions across our Centres of Excellence, scientists and researchers will be freed from the limitations and frustrations of applying for a series of short-term specific project grants in order to secure career opportunities and deliver long-term research. As a consequence, our Centres are able to recruit and train promising researchers who might otherwise be attracted into other cancer research areas which have traditionally attracted greater funding, and with it greater prospects and job security. Over time, as specialist brain tumour expertise and knowledge builds, it is our plan that researchers experienced and knowledgeable in the field, will move between Centres to support cross-pollination of the very best thinking at the cutting-edge of brain tumour research. With a growing ability to build outstanding teams of collaborative researchers amongst the academic and medical communities, we believe our Centres of Excellence are well-placed to develop long-term strategic research plans to explore new avenues and potentially find the key breakthroughs that the brain tumour world so desperately needs. Each Centre of Excellence is an active partner with Brain Tumour Research. We support them with dedicated members of staff with expertise in fundraising, marketing and PR to work at a local and national level. This cooperation and dedication to the brain tumour cause supports and enhances the identity of each Centre as well as that of Brain Tumour Research, providing a dynamic

fundraising atmosphere with the goal to help each Centre ultimately raise at least £1 million per year, to support sustainable research. Our Centres form part of a national network collaborating with each other and other institutes, both within the UK and internationally, in order to accelerate progress in brain tumour research and ultimately make a real clinical difference. We partner with researchers and clinicians who share our vision of a sustainable and secure future for UK brain tumour research. We believe this will help to deliver the better future for all those living with a brain tumour that we are so determined to achieve. Collaboration is one of our core values and the number of registered charities which have joined forces with us to raise awareness and campaign as one voice numbered 22 at the end of the year. We aim to work with Member Charities to continually grow the market for brain tumour fundraising in the UK in order to increase the investment into brain tumour research and expand the specialist information and support that our Members provide to those diagnosed with a brain tumour and their families. Our charitable objects are for the public benefit To assist in the relief of sickness and distress of persons suffering from brain tumours particularly by supporting programmes of research into the causes and treatment of brain tumours and disseminating the useful results of such research. The Charity operates throughout England, Wales, Scotland and Northern Ireland. The Trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives and in planning its future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives that have been set.

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Trustees’ Annual Report Structure, governance and management

The Charity is a charitable company limited by guarantee and was originally known as The Diana Ford Trust and registered on 14th August 2002. In 2005, The Diana Ford Trust joined an informal partnership of UK brain tumour charities known as The United Brain Tumour Campaign. In 2008 the Charity formalised this relationship and amended its name, to better demonstrate its objectives, to Brain Tumour Research. The Trustees who served during the year ending June 2019 were: Wendy Fulcher (Chair) D.M. Sandy Saunders RD (President) Jeremy Aron Nigel Boutwood Rob Hughes Gerard Kelly Stuart McKay Stephen Painter (resigned 15th October 2018) Jessica Ranft Margaret Stockham Turner PhD Members of the Charity guarantee to contribute an amount not exceeding £10 to the assets of the Charity in the event of winding up. The total number of such guarantees at 30th June 2019 was 10 (2018: 10). The Trustees are members of the Charity but this entitles them only to voting rights. The Trustees have no beneficial interest in the Charity. The Remuneration Committee meets to review the remuneration policy and the pay and benefits of the Charity’s employees. The Finance, Audit and Risk Committee meets in accordance with its purpose to assist the Board in its duty to supervise the broad direction of the Charity’s financial affairs and to oversee the audit and risk management processes. The Research Committee meets to consider new programmes, review existing programmes and receive Research reports. The Fundraising Working Group meets as required to review emerging trends in the sector, to satisfy the Trustees that fundraising activities and communications are appropriate and in accordance with the law and compliant with the regulations of relevant fundraising bodies.

Governing documents Declaration of trust made 17th July 2002 as amended 4th April 2008 and 9th December 2008 and Memorandum and Articles of Association dated 14th June 2013. Wendy Fulcher Chair

Jeremy Aron

Rob Hughes Co-Founder

Stuart McKay

Jessica Ranft

D. M. Sandy Saunders RD Co-Founder & President

Nigel Boutwood Co-Founder

Gerard Kelly

Stephen Painter

Margaret Stockham Turner PhD

Appointment, induction and training of Trustees New Trustees are appointed by a resolution of the existing Trustees. In selecting potential Trustees, the Trustees take into account the benefits of appointing a person who through residence, occupation, employment or otherwise has special knowledge of the area of benefit or who is otherwise able by virtue of his or her personal or professional qualifications to make a contribution to the pursuit of the objects or the management of the Charity. Potential Trustees are identified through advertising in relevant publications, recommendations from Member Charities and approaches (informal or formal) to the Charity. They are scrutinised by at least three serving Trustees. On appointment, all new Trustees receive thorough induction and training, which includes receiving detailed information about the Charity via a Trustee Manual, including its Memorandum and Articles, latest accounts, latest financial reports and minutes of recent Trustees’ meetings. In addition, new Trustees attend an induction process at head office, where they are briefed by the Chief Executive and key staff on all aspects of the Charity’s operations, staffing and organisational management. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. Management The Trustees have always sought to develop a professional, well managed and proactive charity in line with good business practice.

Remuneration policy The Trustees are not remunerated. The Charity is committed to ensuring that it pays its employees fairly and in a way which ensures it attracts and retains the right skills to have the greatest impact in delivering its charitable objectives. As such, its principles are to pay a fair salary and offer benefits that are competitive within the charitable sector and the local employment market, as well as affordable, proportionate to the complexity and technical demands of each role, and in line with organisational objectives. The Charity reviews the salaries of all staff annually in July, with the board of Trustees approving the percentage rates for any baseline or higher rate increases. A salary review does not imply an increase and, in making any pay award, the review will be based on affordability and the Charity’s financial health. The remuneration policy, applicable to all team members, is reviewed annually and the Remuneration Committee oversees its application, providing advice to the full board. AGM The AGM is held at the annual Members Workshop – the agenda includes: Presentation of the Financial Statements for the prior year, a verbal update of where the Charity is presently, developments in strategy, and a welcome to any new Members and Trustees.

Trustees oversee governance, agree strategy and the direction of the Charity, they approve financial accounts, budgets and reserves and approve research grants and risk management policies. The Trustees delegate the day to day management of the Charity to the Senior Leadership Team, as detailed on page 2. The Key Management Personnel comprise the Trustees and the Senior Leadership Team.

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Trustees’ Annual Report OPERATIONS AND FINANCIAL REVIEW Achievements and performance – research

To support our battle against brain tumours, this year we granted a further £1.2 million to our four Research Centres of Excellence and BRAIN UK, the virtual brain tumour tissue registry based at the University of Southampton. Increasing numbers of publications are now arising from the pioneering research that we have been sustainably funding for the last few years, as the time and effort invested in this broad spectrum of investigative work continues to bear significant fruit. These achievements are attracting global attention and hence further funding from other major funding bodies, demonstrating a key way that our research strategy is working to increase the overall funding for brain tumour research towards our goal of £35 million per annum. Research strategy Brain Tumour Research is dedicated to funding continuous and sustainable scientific research into brain tumours. This is vital if we are to achieve our vision of finding a cure for brain tumours. Our mission is to build a network of experts in sustainable brain tumour research. Our aims are: •

Building capacity and helping to develop the next generation of researchers, ultimately focusing on all types of brain tumour

•

Significantly accelerating the progress of brain tumour research within the UK in order to make a real clinical difference, through the funding of our dedicated Brain Tumour Research Centres of Excellence

•

Funding a network of Centres, each being granted £1 million a year between us and our fellow organisations

•

Increasing awareness of the lack of funding for brain tumour research in order to stimulate a greater investment by the Government and larger cancer charities

•

tumour field rather than being tempted away into other areas of cancer research that currently attract greater funding. Our longer-term sustained funding is also strengthening researchers’ applications for project and careerdevelopment grants from larger funding bodies such as the Medical Research Council (MRC), the National Institute for Health Research (NIHR) and Cancer Research UK, with increasingly successful grant applications being enjoyed across our Centres. By building outstanding teams of collaborative researchers within the academic and medical communities, our Centres of Excellence facilitate the development of long-term strategic research plans to explore promising new avenues. As the critical mass of high quality scientists builds, our Centres are attracting outstanding researchers from across the globe, bringing with them expertise from a wide range of backgrounds whilst simultaneously increasing opportunities for new collaborations. This will bring us closer to finding that key breakthrough that the brain tumour world so desperately needs. All of our Brain Tumour Research Centres of Excellence are taken through a rigorous annual review, led by the Scientific and Medical Advisory Board and chaired by Professor Garth Cruickshank. This ensures that we are investing in high-quality, peer-reviewed research that best serves the interests of patients, scientists and clinicians, and provides the best basis for effective clinical trials and eventually new therapies that will bring us closer to a cure for brain tumours. For more information on our research strategy, please visit our website: www.braintumourresearch.org/research/ research-strategy

Improving the clinical outcomes for brain tumour patients

Our Centres at the University of Portsmouth, University of Plymouth, Queen Mary University of London and Imperial College provide an environment where the most promising scientists are provided with experience and the opportunities for career development that are needed in order to fulfil their performance potential. This facilitates the development of a strong neuro-oncology research base in the UK, and encourages researchers to remain in the brain

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

QUEEN MARY UNIVERSITY OF LONDON

The Brain Tumour Research Centre at Queen Mary University of London (QMUL) is a partnership between The Blizard Institute at QMUL and The National Hospital for Neurology and Neurosurgery, Queen Square, London. To develop novel therapeutic approaches for brain tumours lies at the heart of the research at this innovative Centre. The team primarily focuses on research into glioblastoma multiforme (GBM), the most common and aggressive form of brain tumour in adults. This landmark project, which has a strong emphasis on how to develop individualised drug treatment regimes for patients in the future, is set to be of global significance in the race to find more effective treatments for brain tumours. All of our Brain Tumour Research Centres of Excellence are taken through a rigorous annual review, led by the Scientific and Medical Advisory Board and chaired by Professor Garth Cruickshank. This ensures that we are investing in high-quality, peer-reviewed research that best serves the interests of patients, scientists and clinicians, and provides the best basis for effective clinical trials and eventually new therapies that will bring us closer to a cure for brain tumours. Every five years, each Centre is taken through an additional Quinquennial Review process led by a specially recruited International Peer Review Panel, and this year was the turn of the Brain Tumour Research Centre at Queen Mary University of London (QMUL). With major discoveries now being finalised for publication, reviewers were already able to see that “this Centre has a unique and potentially game-changing approach.” In the five years since the Centre was established with funding from Brain Tumour Research, an entirely new experimental research pipeline has been established. It began with the highly effective recruitment of patients at the National Hospital for Neurology and Neurosurgery, Queen Square, London who were willing to donate their brain tumour tissue during scheduled biopsies and surgeries. The tissue is used to derive individual tumour cells that can be grown in a petri dish and compared to normal, healthy brain cells from the same patient. Using a combination of laboratory work and computational modelling the team is already identifying key molecular differences that can potentially be exploited to find a cure.

Our support helps QMUL secure a further

£1.5 million from the Barts

In addition, pioneering research Charity at the QMUL Centre led to the publication this year of a research paper providing evidence that a proportion of choroid plexus papilloma is characterised by prominent inflammation, which contributes to the growth of these tumours. The team is now exploring whether antiinflammatory drugs may provide future treatment options for this subgroup of choroid plexus tumours. Choroid plexus brain tumours are most commonly diagnosed in children before they are even one year old, although they can also be diagnosed in older children and adults. The centre has become a magnet for young clinical and non-clinical researchers who are joining it often supported by personal competitive fellowships to acquire skills and expertise in basic and translational neuro-oncology. Such outstanding performance has attracted an unprecedented £1.5 million award from the Barts Charity, enabling QMUL to start building the clinical pipeline required to take such discoveries forward into clinical trials as quickly as possible. This is exactly the kind of additional funding that our research strategy aims to attract, and as the next crucial step on the QMUL “bench to bedside” translational research pathway begins to take shape, we look forward to the day when our investment has provided not just laboratory research but also the foundations for a clinical research centre for brain tumour patients that simply did not exist prior to our involvement.

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Collaborating across neurosciences

Trustees’ Annual Report OPERATIONS AND FINANCIAL REVIEW Achievements and performance – research (continued)

UNIVERSITY OF PORTSMOUTH

Our first Brain Tumour Research Centre was established at the University of Portsmouth in 2010 under the leadership of Professor Geoff Pilkington, now a retired Professor Emeritus. The next generation of scientists are building on the impressive foundations laid at this Centre, continuing to deepen their understanding of tumour metabolism and broaden their research to include the most promising potential treatments that they have identified.

Professor Geoff Pilkington spent his entire career in brain tumour research, starting in the early 1970s. In 2018, Geoff retired, becoming a University of Portsmouth Emeritus Professor. His legacy includes his research work that continues, his centre strategy, which lives on in the work of Brain Tumour Research, and also the work of many brain tumour charities that were inspired by his passion and insight.

Dr. Rhiannon McGeehan has already discovered numerous interrelated mitochondrial DNA factors that are important to the biology of glioblastoma multiforme (GBM) and which could be useful as indicators of tumour behaviour and hence prognosis. Their achievements are now enabling them to investigate which of these therapeutic markers can be used as targets to develop better and more novel personalised therapies in the future. The Research Centre at Portsmouth also specialises in developing animal free models of the brain and bloodbrain barrier that are derived from human cells donated by patients who have undergone brain surgery. These are not only designed to reduce the need for using animal models in the laboratory, but also to provide a more accurate indication of how drugs are likely to act in a human brain and reduce the number of unsuccessful trials that waste precious time, money and resources in the search for a cure.

that it can stop drugs that may be effective in treating brain tumours from getting into the brain, therefore providing a huge challenge for both adult and paediatric brain tumour research. However, this isn’t just an issue for people diagnosed with a primary brain tumour, because over 40% of cancers can spread (metastasise) into the brain, thereby becoming incurable. Using this blood-brain barrier model, researchers at this Centre have begun to uncover the mechanisms through which tumours within other organs, such as breast for example, are able to invade the brain, resulting in brain tumours. These novel insights are likely to inform future strategies aimed at preventing the spread of other tumours to the brain, thereby prolonging life expectancy. The blood-brain barrier is proving to be a challenge not just in a range of cancers, but also in other neurological diseases such as Parkinson’s disease, Alzheimer’s disease and Multiple Sclerosis, so the achievement of building such a useful clinical model at this Centre is potentially beneficial within both adult and paediatric neuroscience research too, and a number of interesting collaborations are beginning to take shape that hold great promise for the future.

The blood-brain barrier provides a living fortress that protects the brain from potentially harmful chemicals. While this is a positive thing in our everyday lives, it also means Professor Geoff Pilkington and the team at the University of Portsmouth

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Professor Oliver Hannemann pictured with Postdoctoral Researcher Jemma Dunn (left), our Patron Caprice Bourret, and our Chief Executive, Sue Farrington Smith MBE

Trustees’ Annual Report OPERATIONS AND FINANCIAL REVIEW Achievements and performance – research (continued) UNIVERSITY OF PLYMOUTH

Professor C Oliver Hanemann brings together multiple research teams at the UK’s leading specialist research centre for low-grade brain tumours. Whilst low-grade brain tumours are usually slow-growing, some can start to grow more rapidly, transforming into high-grade or malignant brain tumours. All have the potential to cause long-term challenges for patients and none are curable using drugs, so all patients are subjected to potentially life-changing surgery and/or radiotherapy treatments.The Brain Tumour Research Centre in Plymouth therefore focuses on the emerging area of personalised medicine in order to provide new understanding of specific groups of common, low-grade brain tumours such as astrocytoma, oligodendroglioma, schwannoma and meningioma brain tumours. Their research also has the potential to inform work on other brain tumour types, including high-grade tumours such as glioblastoma multiforme (GBM). Meningioma alone accounts for over 30% of brain tumour patients diagnosed worldwide with a primary brain tumour. With a long prognosis but progressive, debilitating side effects, they provide a huge strain not just on patients and their families but also on medical resources. The Plymouth team are determined to change this, and are developing innovative blood tests that aim to detect when a tumour progresses. These can potentially be used to both diagnose and monitor meningioma brain tumours, in future avoiding the need for repeated biopsies and scans. The Plymouth team also work on identifying new drug targets in low-grade tumours.

HELPING FUND

sustainable research at our Centres of Excellence

Researchers investigating low-grade brain tumours at the University of Plymouth

Professor Oliver Hanemann and the team at the University of Plymouth

They have successfully developed a ‘fast-track’ process for screening new potentially therapeutic (repurposed) drugs using human brain tumour cell cultures, and this year have published the results of their first clinical trial for Neurofibromatosis 2 patients resulting from their laboratory work. Children with Neurofibromatosis 2 will have developed multiple brain, spinal and nervous system tumours by the time they are teenagers, with the average prognosis being just 15 years from when the disease is first discovered. The team believe that finding a cure for lowgrade brain tumours will also unblock the path to finding a cure for this incredibly challenging genetic condition, and continue to work tirelessly towards this goal. Part of the group in Plymouth also look at brain tumour initiation, with the goal of identifying the ‘stem’ cells that drive the early stages of brain tumour development, before there is actually a fully formed tumour. The Plymouth Centre continues to increase their level of prestigious collaboration with other researchers both within the UK and internationally. Professor Hanemann and his team are active members of both the International Consortium of Meningioma (ICOM), regularly presenting their work at global conferences and contributing to the overall understanding of this challenging tumour type.

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Trustees’ Annual Report OPERATIONS AND FINANCIAL REVIEW Achievements and performance – research (continued)

Arginine breakthroughs

IMPERIAL COLLEGE LONDON

The Brain Tumour Research Centre of Excellence at Imperial College London undertakes an array of interlinked laboratory, computational, artificial intelligence and clinical projects. The close collaboration between the research laboratories at Imperial College London and Imperial College Healthcare NHS Trust, particularly Charing Cross Hospital, places them in a strong position to ensure that basic laboratory science is quickly translated into the clinic where patients can benefit from their cutting-edge research. Their overall theme focuses on a systems biology approach: the development of artificial intelligence, computational and mathematical models of complex biological systems that is focused on helping them to understand how brain tumour cells function, and hence how they can be manipulated to cure this dreadful disease. This use of artificial intelligence enables them to quickly investigate key pathways and genetic mutations that drive brain tumour growth and identify ways to sensitise tumours to existing therapies (hence making them more effective, potentially at lower doses to reduce side effects). They also have a strong focus on exploring existing drugs currently used for other diseases that affect cancer pathways and hence could quickly be repurposed for use in brain tumours, as they are ideally placed to test such drugs in preclinical and early phase clinical trials. The research team led by Dr. Nelofer Syed has a strong track record in studying the nutrients used in brain tumour metabolism, and were the first to identify the fact that arginine (an amino acid, one of the building blocks of protein) is used differently by brain cancer cells compared to healthy brain cells, and that by manipulating the relevant metabolic pathways, arginine levels could be used to influence tumour growth. They have now completed an early stage clinical trial led by Dr Peter Szlosarek at Barts and the London School of Medicine, and are preparing to take these promising results into a larger trial alongside re-irradiation for adult patients with recurrent glioblastoma multiforme (GBM).

Linking

26 neuropathology centres across the UK

Invaluable resource to neuroresearchers

Exploring ketogenic therapy benefits The ketogenic diet has gained a lot of attention recently, thanks to growing anecdotal evidence from brain tumour patients who share their experiences informally on blogs and support groups across the world. It is therefore vital that strong laboratory and clinical evidence is obtained in order to clarify if, when and how a ketogenic diet may be appropriate, as well as which patients are most likely to respond positively. Researchers in the US have shown that when the ketogenic diet is used alongside radiotherapy in a mouse model, brain tumours disappear from the brain and stay away even when the mice are then moved back onto a normal diet. There is obviously a big difference between obtaining this result in a laboratory and in humans, but research in laboratories including those at Imperial College also indicates that the ketogenic diet may make surgery, chemotherapy and radiotherapy work more effectively: so it is vital that we explore this possibility. The Brain Tumour Research Centre at Imperial College is therefore also working to develop a clinical trial protocol that aims to answer the questions that both patients and clinicians are asking of this new way of approaching brain tumour management.

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Providing access to over

400,000 brain tissue samples

BRAIN UK

One of the biggest barriers to finding a cure for brain tumours is the lack of, and difficulty in acquiring, the tissue needed for innovative research. Researchers can often be bogged down in lengthy application processes, delaying research and preventing neuro-oncological research for which tissue samples are critical for understanding brain tumours and identifying targets for new drugs within tumour cells. Recognising a huge unmet scientific and clinical need for brain tumour tissue, Helen Bulbeck at our Member Charity brainstrust led a partnership of charities and hospitals to establish BRAIN UK in order to streamline the process of making brain tumour tissue available to researchers.

Housed within the University of Southampton, the BRAIN UK database links twenty-six neuropathology centres across the UK with access to over 400,000 brain tissue samples, available to match to requests for research studies. BRAIN UK is supported by a small committee of experts who advise on each application, providing a “fast track” option that saves time, money and administrative resources in order to get vital brain tumour research projects into the system as quickly as possible. We are proud to provide primary funding for BRAIN UK as they continue to provide invaluable resource to researchers in the field of neuroscience and neuro-oncology, each year seeing an increase in the number of research projects that they support.

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Trustees’ Annual Report OPERATIONS AND FINANCIAL REVIEW Achievements and performance – campaigning and raising awareness

Having led the coming together of brain tumour charities to speak with one voice and since Brain Tumour Research published its first manifesto in 2015 entitled Invest In A Cure, we have been fundamental in shining a spotlight on why more funding is needed for research into brain tumours and driving the overall push for change. Our latest manifesto Find A Cure, published in April 2019, calls on the Government to work with us and our fellow organisations to Grow Capacity; Build Infrastructure; and Accelerate Treatments, all of which are vital to stimulate the research required to find a cure for this devastating disease. It also highlights the need for national investment for research into brain tumours to increase to £35 million a year by 2025. What better place to launch our 2019 manifesto than at our annual Speaker’s House event, an important landmark in our campaigning calendar. At this year’s event, which also served as a celebration of our 10th anniversary, patients, families and fundraisers enjoyed an opportunity to share their experiences with each other, with MPs and policymakers, and with the researchers and scientists carrying out the work vital to finding a cure. We were joined by some of our celebrity ambassadors: supermodel Caprice, singer John Newman, both of whom are brain tumour patients, and former Eastenders actor Ian Reddington. It was a truly wonderful evening marking the success of the charity but also recognising, through the launch of Find A Cure, the work still required for a cure to be found for this devastating disease. Our heartfelt thanks to all who attended the event and who continue to support our campaigning efforts to increase the national investment for research into brain tumours. We continue to provide the Secretariat of The All-Party Parliamentary Group on Brain Tumours (APPGBT) and take great pride in managing such a thriving, informative, and inspiring All-Party Parliamentary Group, coordinating an exciting programme of speakers and an ever-growing guest list of brain tumour patients and their families, clinicians, academics, scientists, and, of course, a strong, cross-party network of supportive MPs and Peers.

tumour community. In July 2018 at the Annual General Meeting of the Group, we re-registered the APPGBT and were delighted that Derek Thomas MP, member of Parliament for St Ives, was re-elected as Chair. Following on from an APPGBT Inquiry, which ran during spring 2018 and investigated the economic and social impacts of a brain tumour diagnosis, in November 2018, the APPGBT launched its first ever report entitled Brain Tumours – a cost too much to bear? to a packed room in the House of Commons. The report was the compilation and analysis of evidence collected from a variety of stakeholders via various methods including an online web forum, oral evidence sessions, written evidence submissions, and a literature review. Brain Tumours – a cost too much to bear? has attracted a great deal of interest among MPs and policymakers and we continue to work towards achieving the recommendations contained in the report. Our own submission to the APPGBT Inquiry took the form of Exposing the financial impact – a report drawn from the experiences of more than 368 people who responded to a survey we conducted looking into the costs and financial losses associated with a brain tumour diagnosis. The findings made for stark reading. Our data revealed that the average household affected by a brain tumour will be £14k worse off per annum, twice as much as for all cancers. As an active forum exploring issues of concern to brain tumour patients, this year the APPGBT has also addressed a thoughtprovoking list of topics including the educational experiences of children who have had a brain tumour diagnosis, convection drug delivery, and medicinal cannabinoids and their anti-cancer properties.

Shining a spotlight on need for increased research funding

Brain tumour patients are

£8k a year worse off than other cancer patients

Established in 2005, by the Rt Hon. John Bercow with the support of our Member Charity, Ali’s Dream, the APPGBT continues to raise awareness of issues faced by the brain

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

We have also put forward the voice of brain tumour patients and their families and highlighted the importance of increasing national investment for research into brain tumours through the submission of a number of Government and parliamentary consultation submissions. Topics covered have included progress made since the publication of the Petitions Committee report on brain tumour research, the NHS Long Term Plan, the usage of medicinal cannabis products, and the legal definition of terminal illness.

•

Training – Establishing a programme faculty and developing a programme and products for TJBCM fellowships enabling newly qualified medical and clinical oncologists to specialise for a year in brain tumours.

•

To support our MP engagement aims, we now have more than 250 campaigners, people affected by a brain tumour diagnosis, who are willing to share their experiences as well as our materials and messaging with their local MPs and Parliamentary contacts. Thank you to all who continue to support our campaigning activity.

Patients – Elevating the minimum standard of care for brain tumour patients across the UK by encouraging the adoption of an integrated multi-disciplinary care model, to ensure each patient is being treated by a collaborative group of specialists. They are also working on an evidenced based public facing campaign for earlier diagnosis for adults and helping to develop quality of life measures and end of life support models for brain tumour patients.

•

Emerging data and technology – identifying the role and opportunities of adaptive platform trials

The Tessa Jowell Brain Cancer Mission (TJBCM) was formed in February 2018, stimulated in large part by the efforts of Baroness Tessa Jowell during the last year of her life when she was living with a GBM brain tumour. The Mission embraces the recommendations made by the Department of Health and Social Care’s Task and Finish Working Group into brain tumour research by developing a new national strategy for brain tumours. Serving as a convening body, the Mission unites professional, patient, charity and Government groups to share information and work together to eradicate brain tumours. Key stakeholder organisations such as the NHS, the Department of Health and Social Care, Brain Tumour Research, The Brain Tumour Charity, brainstrust, Brain Tumour Support and Cancer Research UK, as well as academics and scientists, are all jointly working on the initiatives within the TJBCM. The TJBCM is Chaired by Professor Richard Gilbertson and is working on five strategic programmes: •

•

Driving change

Research – A sandpit was held in June 2019, bringing together key scientists from the field of brain tumour and other neurosciences to explore new ideas and opportunities. A resulting project grant and senior post doc fellowship is now being progressed Treatment and Trials – Focused on establishing the Tessa Jowell BRAIN-MATRIX, a novel clinical trial which offers targeted treatment and non-standard treatment for brain tumour patients across ten UK centres and is resolving the issues which cause delays in opening new clinical studies for brain tumour patients

Our Chief Executive, Sue Farrington Smith MBE, represents our community on the TJBCM Steering Group and the research programme working party. We continue to be involved with relevant campaigning and professional organisations such as: Cancer52 (including as a member of its Policy and Public Affairs Steering Group), the All Party Parliamentary Group (APPG) on brain tumours (for whom we provide the secretariat), Association of Medical Research Charities (AMRC), the Society for British Neurosurgeons (SBNS), the British Neuro-oncology Society (BNOS), and we are a partner of the National Cancer Research Institute (NCRI). In February 2019, we were delighted to become a member of the Scottish Cancer Coalition, a coalition of voluntary organisations that exist to ensure the needs of people living with cancer in Scotland are met. As a charity that has engaged with the Scottish brain tumour community through a variety of activities across fundraising, media, campaigning, and research, we are proud to be part of this Coalition working to improve cancer services and outcomes Over for patients in Scotland. We are immensely proud of the direction our public affairs and campaigning work continues to take and continue to dedicate our influencing activity to calling for increased national investment for research into brain tumours and ultimately achieve parity with other cancers such as breast and leukaemia.

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

250

campaigners

Aiming for parity with breast cancer and leukaemia 19

Trustees’ Annual Report OPERATIONS AND FINANCIAL REVIEW Achievements and performance – fundraising

Fundraising, one off donations, regular donations and corporate giving all showed growth this year, and our overall income went up by 7% which was pleasing in a year widely regarded as a challenging environment for charitable giving across the UK. Challenge Events are always an important part of our fundraising mix, and this year highlights included our teams in the Prudential Ride London event, who raised more than £22k and in the Great North Run, who raised an amazing £31k. In the latter race, we were delighted to welcome a record number of runners who already had their own place in the race and then chose to collect sponsorship to support us. London Landmarks Half Marathon was another great event for us, with over £11k achieved and the series of Kilt Walks across Scotland brought in several thousand pounds. As in previous years, the most eye-catching achievement was that of our Virgin Money London Marathon team who this year raised a staggering £320k. We are grateful to them for their enormous commitment and are delighted to see that many of our London Marathon runners are now throwing themselves into further fundraising activity for us. For the first time this year, the Charity organised a series of abseils across the UK. Our supporters embraced this including by raising £12k on the ArcelorMittal Orbital abseil in the Olympic Park in London, another £12k on the abseil down the BALTIC Centre of Contemporary Art in Newcastle and over £10k on the abseil over the Forth Bridge north of the border. Our Walks of Hope attracted record numbers in Portsmouth and London and we started new walks for the first time in the North West, the North East, Scotland and the South West. Our long-running canal walk along the Grand Union near Milton Keynes was once again supported by the Three Locks public house, for which we are most grateful.

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

When it comes to collective efforts, we salute the thousands of people who organised, participated in and supported the hundreds of individually-organised fundraising events across the UK. Together these events raised a staggering £1.25 million. It was a busy year for our Fundraising Groups, with several new groups beginning and some fantastic activity from our established groups. In the corporate sector, we were thrilled to have the support of Cooper Burnett LLP, who raised £16k by year end and continue to fundraise. This was also the year that we worked closely with 24 Tesco superstores in the central England region. Thanks to their fantastic store teams and the generosity of the public when doing their shopping, this collaboration brought in some £12.3k over just a couple of days, and we look forward to working further with Tesco in the years to come. This year’s Wear A Hat Day in March was the most successful one yet, with £350k raised. Sponsored by Specsavers and supported passionately by Hobbycraft, we saw hundreds of events held across the country and once again #wearahatday was trending nationally on Twitter. We were thrilled to receive a third grant of £50k from the Masonic Charitable Foundation (MCF) to support the work we fund at our dedicated Brain Tumour Research Centre at Queen Mary University London. The MCF have become one of our most important funders of this ground breaking work into epigenetics, and we look forward to the opportunity to work with them again in the future. We are grateful to all the grantmaking trusts and foundations who supported us this year.

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Challenging UK Governments and larger cancer charities to invest more in brain tumour research

Trustees’ Annual Report OPERATIONS AND FINANCIAL REVIEW Fundraising practices

Recent years have been challenging for the entire charity sector following austerity and with the uncertainty around Brexit as well as increased media scrutiny, new regulations and high-profile allegations of misconduct. We consider ourselves a leader in good fundraising practice, ensuring our supporters are treated fairly and with respect and voluntarily subscribe to the Fundraising Regulator and its Code of Fundraising Practice. All members of the team are required to demonstrate an understanding of the Code and make a commitment to act in accordance with its principles when they join the Charity and regularly thereafter. Complaints and supporter feedback are an important source of information about how our work impacts on supporters and members of the public, providing us with insight and lessons for future fundraising activities. As a national charity, our fundraisers will occasionally come into contact with people who may be in vulnerable circumstances. We aim to be especially careful and sensitive when engaging with vulnerable people, including those affected by cancer. We are confident in the safeguarding measures we have in place, including a whistleblowing hotline, but it is an issue we take very seriously and have recently instituted an updated Safeguarding Policy. Communicating with members of the public, in person, on the telephone, by email or through social media are vital ways to engage people in our work and raise funds. This work is only carried out by members of our team – to date, we have not employed any external organisations or professional fundraisers to fundraise on our behalf. This year we received one complaint relating to fundraising which was in regard to the ambiguous nature of some our historic messaging regarding expenditure on our charitable activities. We addressed this issue when first brought to our attention early in the year.

Future plans Further investment in pioneering brain tumour research is vital and dependent on growing our income and effectively managing our costs. As an organisation, we represent the voice of the brain tumour community who demand an end to the injustice of dismal clinical outcomes and the paucity of treatment options. We invest in such ground-breaking brain tumour research at our own dedicated research centres and our campaigning work sees us influencing policy makers and larger cancer charities as partners or ‘critical friends’. The SMAB is helping the Charity to make tough decisions in the prioritisation of research as we seek to build on the progress to date and pursue the exciting developments arising. To this end, we are striving to exceed the £4 million income per year milestone, and during the year ending June 2020 we intend to do this by deepening our broad range of income streams. Our annual mass-participation ‘Wear A Hat Day’ campaign now reaches more people and raises more money per year than ever before. It has become a nationally ‘trending’ awareness day on the internet and has propelled our brand recognition so that it brings new supporters to the Charity all year round. Beyond ‘Wear A Hat Day’, our new focus on digital marketing campaigns over the past year opened the Charity up to the wider public and we will continue this work in the coming year to ensure our message is reaching everyone who needs to know about us. This will be the second year of our nationally syndicated range of in-house branded campaigns such as the Walks of Hope and once again we will be organising several of these sponsored walks across the UK on the same day in September to maximise participation with a view to raising over £50k in one afternoon. We continue to increase the number of abseils and other challenge events in order to meet demand. We have a fantastic London Marathon team already taking shape for 2020 and aim to raise over £250k from this event. And, of course, we will continue to support our army of volunteer fundraisers who never fail to surprise and impress us with their ingenious and engaging fundraising ideas, which we support with merchandise, branded collateral, local PR and marketing. In the Corporate Fundraising area, we continue to work closely with Hobbycraft as our partner for Wear A Hat Day, and look forward to expanding our relationship with other organisations as we continue to grow this

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

income line year on year. As a highly focused charity, we offer businesses the benefit of seeing their contribution put to work swiftly and impactfully, including in our dedicated research centres. Our regular giving programme is forecast to continue to grow this year as we also begin work to expand our rates of individual giving at all levels of gift. We will work both with previously supportive Trusts & Foundations and new such charitable organisations to increase the number and value of partnerships we have in this space. Following the successful introduction of our annual Scientific Workshop and through our partnership with the NCRI and membership of the AMRC and BNOS, we will continue to drive cultural change in the way that UK scientists work together through stimulating collaborations and promoting knowledge exchange which will optimise the impact of research to benefit the brain tumour community and ensure collaboration both internally and externally across the UK and internationally. We will continue to work in collaboration with our Members and other charities to bring together patients, carers, activists, researchers and clinicians as appropriate to accelerate progress in the brain tumour sector. Together we can reach a wider number and range of beneficiaries, signposting to specialist organisations as appropriate, whilst also growing the market and fundraising capacity. Having launched our 2025 manifesto ‘Find a Cure’, we will continue to lead the sector, providing the secretariat for the brain tumour APPG, using our position on the Steering Group of the Tessa Jowell Brain Cancer Mission

and elsewhere to influence MPs and the Government to understand the continuing need for increased investment in research and increased awareness among the general public of the issues of research funding inequalities in order to continue to grow the market for brain tumour funding to the levels of other cancers. We will also keep sharing this message with the devolved Governments in the UK. Reserves policy Our reserves policy is reviewed annually and following the recent review, it was agreed we should aim to maintain a target range for unrestricted funds which have not been designated for a specific use at a level between one and three month’s operational expenditure plus any other longer-term commitments (leases, etc.). The Trustees consider that reserves at this level will ensure that, alongside the recurring income streams, in the event of a significant deterioration in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised, and/or expenditure reduced. The target level of reserves at 30th June 2019 has been calculated at £665k to £880k. Longer term, the Trustees aim to achieve a reserves level equivalent to one years’ grant commitment, so there would be no interruption to sustainable funding for the Brain Tumour Research Centres of Excellence. However, despite the tough economic climate and impact on fundraising, the Trustees continue to support the vital work of our Centres of Excellence and maintain grants to sustain research funding at current levels so that the brain tumour community will not lose the benefits of the investment made to date. This resulted in year-end free reserves of the Charity being some £204k in deficit, a reduction of £46k, but still approximately £1 million below the desired level, but which are expected to return to positive territory in the next financial year as a result of improving forecast income streams. The Trustees appreciate the ongoing need to balance the Charity’s aims of maximising sustainable funding for research whilst ensuring adequate reserves to maintain the Charity’s activities, so will seek to increase reserves to the preferred level over three years, thus not jeopardising ongoing vital research, whilst continuing to review the reserves policy annually to ensure it remains fit for purpose and in line with the Charity’s strategic objectives. While we build our reserves, the Trustees have agreed that the Charity should maintain a minimum cash balance of £500k.

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Building reserves for security of grant funding

Trustees’ Annual Report

Sue Farrington Smith MBE Chief Executive

Ashley Bailey Director of Finance and Operations

Robin Meltzer Director of Fundraising and Marketing

Principal risks and uncertainties

With the support of the Senior Leadership Team, the Trustees continually review risks as they arise and satisfy themselves that the systems and controls are in place to manage them as appropriate and practicable. The risk management process relies on our judgement of the risk likelihood and impact and also developing and monitoring appropriate controls. We maintain a Risk Register of the principal risks faced by the Charity and a full annual review is an important component of our governance framework. As a fundraising Charity with strategic objectives to fund a network of experts in sustainable brain tumour research and grow the national investment in brain tumour research in order to find a cure, our principal risk is the need to protect and grow our income. To this end, we see our principal risks include our supporter relationships, our brand reputation and our people. To sustainably grow income, we have invested in developing a broad and diverse portfolio of income streams. In recent years, we have introduced new fundraising positions such as Gifts in Wills, Corporate and Trusts and Foundations and strengthened teams in already successful areas such Events and Community Fundraising, increasing fundraising capacity and capability. Failure to deliver a satisfactory supporter journey risks losing a donor’s support and adversely impacting our ability to grow income. Although this risk grows with a growing supporter base, we believe we have effectively mitigated this risk by expanding the fundraising team under experienced leadership and investing in a supporter management system and supporter care roles to help manage the Charity’s relationship with our supporters. Damage to our reputation and negative sentiment in the wider sector is a risk we take seriously.

QQR reviewers hail QMUL as innovative and progressive

Our success to date would not have been achieved without the commitment and talent of our team. We endeavour to attract new and complementary skills to the team to broaden the knowledge, skills and experience of the whole whilst maintaining the passion for our goal of finding a cure for brain tumours. We have invested in a leadership team which brings skills from a range of backgrounds influencing the organisation and inspiring great performance. Frequent training and development sessions allied to our regular competency and objectives-based appraisal process seeks to promote the right behaviours, deliver results and retain key staff.

Grant monitoring

The work carried out at our four dedicated research centres and the BRAIN UK registry is vital and monitored carefully to ensure our money is well spent. Indeed, we owe it to brain tumour patients, their families and our supporters. It is also a condition of our membership of the Association of Medical Research Charities (AMRC), who regularly audit their members to ensure good practice of review to guarantee that only the best quality research is funded. In April 2019, a group of International Peer Reviewers, world leaders in brain tumour research, conducted a comprehensive quinquennial review of the team, facilities and achievements at Queen Mary University of London. The work was described as innovative and progressive, and it was recommended that the Trustees support the Centre for a further five years. A similar review is planned for the University of Plymouth in 2020. Every year led by Professor Garth Cruickshank, the SMAB with the support of international peer-reviewers appraise detailed reports provided by each of the Centres and BRAIN UK, helping to direct and prioritise the Charity’s grant making decisions.

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Income

£3.6 million

Grant making policy

All our Research Centres submit an annual report including a request for further funding. The Funds are granted and approved by the Trustees following the advice of the SMAB and recommendations of the Research SubCommittee resulting from a comprehensive review of the annual report, research results to date, centre visits and researcher interviews. It is our fundamental goal to support the development of dedicated Centres of Brain Tumour Research Excellence in order to build research capacity. This will enable sharing of knowledge through critical mass and will promote the future sustainability of brain tumour research in the UK instead of funding individual project grants. Whilst it is our policy to grant the maximum amount of available funds into brain tumour research each year and it is clear from our discussions with our Centre lead scientists that it is necessary to sustain research funding at current levels, it is recognised that whilst our strategy is for continued growth, rather than increase grant funding levels in the short term we will focus on building reserves to provide security of future grant funding.

£1,237k granted to research

This was achieved as expenditure was closely monitored and managed to mitigate the lower than planned income realised as the financial year progressed. In addition, a full review of grants awarded to date identified a small number of unutilised or underspent grants from prior years and £55k of grants were withdrawn during 2018/19, making the net award for the year £1,182k. Net grants committed to Queen Mary University of London during the year amounted to £404k, to the University of Portsmouth £196k, to the University of Plymouth £213k, to Imperial College London £347k and to BRAIN UK £22k. Of the Grants committed to date, a total of £2,215k was paid during the year; £429k to the University of Portsmouth, £512k to the University of Plymouth, £632k to Queen Mary University of London, £606k to Imperial College London, and £36k to BRAIN UK. £1,270k remains committed for future payments.

Net grants committed this year – £1,182k

Net grants committed this year – £1,182k £404k Queen Mary University of London £196k University of Portsmouth £213k University of Plymouth

Financial performance

The continuing commitment and passion of our supporters helped the Charity to weather the challenging economic conditions and regulatory headwinds hitting many fundraising charities with the year to June 2019 resulting in an increase in our income to over £3.6 million compared to £3.4 million the previous year.

£764k

invested in campaigning and raising awareness

£347k Imperial College London £22k BRAIN UK

Total grants paid this year – £2,215k

The Charity has always sought to maximise the grants awarded each financial year based upon planned and actual income generated. With advice from the Research Committee, Trustees agree and award initial grants early in the financial year based upon planned income and expenditure with regular reviews throughout the year. As ever, the Charity was determined to maintain research expenditure, and research grants committed in the year amounted to £1,237k, compared with £1,623k in 2018 as a result of a restructure at our University of Portsmouth Research Centre. Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

£632k Queen Mary University of London £429k University of Portsmouth £512k University of Plymouth £606k Imperial College London £36k BRAIN UK

Trustees’ Annual Report

Trustees’ Responsibilities in Relation to the Financial Statements

In order to drive and increase national investment in brain tumour research and achieve on the success of 2018, we maintained the spend on our key charitable objective of campaigning and raising awareness at £764k, compared to £757k in the prior year. £35k was expended on the Members’ Workshop and other educational activities. We continue to invest in the quality of the team to maintain and grow the funds raised. We have created a national team of community fundraising managers, and are building a pipeline and portfolio of future income streams. Careful management of discretionary spending enabled a 5% reduction in the cost of generating funds during this period to £1,242k from £1,309k. Overall, the growth in income combined with careful management of costs, allowed us to maintain our commitment to sustainable brain tumour research, and generate a small surplus of £47k. This surplus, added to the reserves deficit brought forward of c. £250k, resulted in a reduced year-end deficit in resources of £204k. At the balance sheet date, the Charity has £866k in cash available to meet outstanding obligations. The chart on page 22 illustrates our expenditure as a percentage of income in 2018/19. Moreover, through our centre funding partnerships and the addition of the Cancer Research Support Fund, every £1 we grant to our Centres of Excellence generates around £2.50 invested in brain tumour research!

The Trustees have reviewed cash flow forecasts for the period to 31st December 2020 and considered cash flow requirements for this period for the purposes of approving these financial statements. The cash flow forecasts indicate that the Charity will be able to pay its debts as they fall due for the period until at least 31st December 2020. In the event that income does not hit the projected levels, management is able to adjust discretionary expenditure to relieve any short-term cash pressures which might arise. Given the level of negative reserves, the Trustees have specified maintaining a minimum available cash balance of £500k. Management will monitor income and expenditure and ensure that payments are managed to achieve this level.

Generating Funds Governance Campaigning and Raising Awareness Administration Education

30.3%

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the Charity for that period. In preparing these financial statements, the Trustees are required to: •

Select suitable accounting policies and then apply them consistently;

•

Observe the methods and principles of the Charities SORP FRS 102;

•

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; and,

•

Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

Statement of disclosure to auditors Insofar as the Trustees are aware: •

There is no relevant audit information of which the charitable company’s auditor is unaware; and

•

The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approved by the Trustees on 12th November 2019 and signed on their behalf by:

Wendy Fulcher Chairman of the Trustees

Every £1 we grant generates around

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

£2.50

invested in research

Research 37.5%

<1%

The Trustees, who are also directors of the charitable company (for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

1.3%

10.9% 18.6%

Management and the Trustees regularly review detailed forecasts of income, expenditure and cash flows, typically projecting forward 12 months or more. The assumptions underlying the budget and forecasts are challenged, varied and tested to establish the likelihood of a range of possible outcomes including reasonable cash flow sensitivities. The expected figures are carefully monitored against actual outcomes each month and variances are highlighted, analysed and discussed at Management and Board level.

The Trustees are, therefore, satisfied that the financial statements should be prepared on the going concern basis and have advised Management to work on the basis of a continued growth strategy with initiatives and contingencies built in, focused on building reserves that allows for sustainable research funding of our Centres, whilst continuing to campaign for increased national investment in brain tumour research.

Where your money Where moneygoes goes <1%

Going concern

£1.2 million granted to research

£7.9 million since 2010

Reserves

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Independent Auditor’s Report to the Trustees of Brain Tumour Research Opinion We have audited the financial statements of Brain Tumour Research (the ‘charitable company’) for the year ended 30 June 2019 which comprise the statement of financial activities, balance sheet, statement of cash flows 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). In our opinion, the financial statements: •

Give a true and fair view of the state of the charitable company’s affairs as at 30 June 2019 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 Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical 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 is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where: •

•

The Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or The Trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information The other information comprises the information included in the Trustees’ 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 information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, 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. 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 Trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements

•

The Trustees’ annual 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 charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ annual 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 if, 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 information and explanations we require for our audit; or

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

•

The Trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the Trustees’ annual report and from the requirement to prepare a strategic report.

Responsibilities of Trustees As explained more fully in the statement of Trustees’ responsibilities set out in the Trustees’ annual report, 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 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 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 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 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. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: •

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

•

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control.

•

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees.

•

Conclude on the appropriateness of the Trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the entity’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the entity to cease to continue as a going concern.

•

Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 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. Our audit work has been undertaken so that we might state to the charitable company’s members 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 and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Noelia Serrano, Senior Statutory Auditor 12th November 2019 for and on behalf of Sayer Vincent LLP, Statutory Auditors Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Statement of Financial Activities Note

Unrestricted £

Balance Sheet Restricted £

2019 Total £

Unrestricted £

Restricted £

2018 Total £

Income from: 2

2,429,027

Other trading activities

929,085

TOTAL INCOME

3,358,112

268,181 – 268,181

2,697,208

2,251,998

929,085

897,644

3,626,293

3,149,642

243,442

2,495,440

– 243,442

897,644

2018 £

54,616

88,535

Investments

1,269

2,173

55,885

90,708

Current assets: 4

1,241,860

–

1,241,860

1,309,560

–

1,309,560

Charitable activities: Research grants

1,293,636

244,585

1,538,221

1,648,451

Campaigning and raising awareness

753,971

10,000

763,971

756,673

–

756,673

207,038

Members liaison, workshop and conferences

34,734

24,365

–

24,365

1,855,489

Stock

21,840

22,934

Debtors

240,329

262,392

Debtors recoverable in more than one year

15,000

866,004

1,768,134

1,143,173

2,068,460

Cash at bank and in hand

TOTAL EXPENDITURE Net income/(expenditure) before net gains on investments

–

Liabilities:

3,324,201

254,585

3,578,786

3,739,049

207,038

3,946,087

Creditors: amounts falling due within one year

33,911

13,596

47,507

(589,407)

36,404

(553,003)

Net current assets

Net loss on investments

(904)

Net income for the year and net movement in funds

33,007

– 13,596

(904) 46,603

– (589,407)

– 36,404

– (553,003)

Reconciliation of funds:

TOTAL FUNDS CARRIED FORWARD

Tangible assets

3,393,084

Expenditure on:

Total funds brought forward

2019 £

Fixed assets:

Donations and legacies

Raising funds

Note

(237,023) (204,016)

(13,596) –

(250,619)

352,384

(50,000)

302,384

(204,016)

(237,023)

(13,596)

(250,619)

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 19 to the financial statements. The Notes on pages 33 to 45 form part of these financial statements.

(2,110,548)

(1,292,794)

Total assets less current liabilities

(149,621)

(42,088)

(93,736)

48,620

Creditors: amounts falling due after one year

(110,280)

(299,239)

TOTAL NET ASSETS

(204,016)

(250,619)

The funds of the Charity:

19b

Restricted income funds in deficit

(13,596)

–

Unrestricted income funds: General funds

(237,023)

(204,016)

Total unrestricted funds

(204,016)

(237,023)

TOTAL FUNDS

(204,016)

(250,619)

Approved by the Trustees on 12th November 2019 and signed on their behalf by:

Wendy Fulcher Chairman

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Stuart McKay Trustee

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Statement of Cash Flows

Notes to the Financial Statements Note

2019 £

2018 £

Accounting policies

1.1 Statutory information

Cash flows from operating activities: Net cash provided by operating activities

(522,811)

(896,852))

Cash flows from investing activities: Purchase of fixed assets

(5,278)

Purchase of investments

–

(21,659)

1.2 Basis of preparation

– (5,278)

(21,659)

Change in cash and cash equivalents in the year

(902,130)

(544,470)

Cash and cash equivalents at the beginning of the year

1,768,134

2,312,604

866,004

1,768,134

Net cash used in investing activities

CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR

Brain Tumour Research is a charitable company limited by guarantee and is incorporated in the United Kingdom. The registered office address and principal place of business, is Suite 3, Shenley Pavilions, Chalkdell Drive, Shenley Wood, Milton Keynes, MK5 6LB.

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) (effective 1 January 2015) – (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (September 2015) and the Companies Act 2006. All figures are presented in sterling and rounded to the nearest pound.

1.3 Public benefit entity The charitable company meets the definition of a public benefit entity under FRS 102.

1.4 Going concern The Charity’s charitable and fundraising activities, along with the operating environment, performance and prospects are set out on pages 7 to 22 in the body of the Annual Report. Management and the Trustees regularly review detailed forecasts of income, expenditure and cash flows, regularly projecting forward 12 months or more. The assumptions underlying the budget and forecasts are challenged, varied and tested to establish the likelihood of a range of possible outcomes including reasonable cash flow sensitivities. The expected figures are carefully monitored against actual outcomes each month and variance are highlighted, analysed and discussed at Management and Board level. The Trustees have reviewed cash flow forecasts for the period to 31st December 2020 and considered cash flow requirements for the period to 31st December 2020 for the purposes of approving these financial statements. The cash flow forecasts indicate that the Charity will be able to pay its debts as they fall due for the period until at least 31st December 2020. In the event that income does not hit the projected levels, management is able to adjust discretionary expenditure to relieve any short term cash pressures which might arise. The Trustees have specified maintaining a minimum cash balance of £500k. Management will monitor income and expenditure and ensure that payments are managed to achieve this level. The Trustees are, therefore satisfied that the financial statements should be prepared on the going concern basis.

1.5 Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably. Income from grants is 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 and is not deferred. For legacies, entitlement is taken as the earlier of the date on which either: the Charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

1.6 Donations of gifts, services and facilities Donated professional services and donated facilities are recognised as income when the Charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the Charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so please refer to the Trustees’ annual report for more information about their contribution. On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the Charity which is the amount the Charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

1.7 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the bank.

1.8 Fund accounting Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund. Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes. Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Notes to the Financial Statements

(continued)

1.9 Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: • Costs of raising funds relate to the costs incurred by the Charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose • Expenditure on charitable activities includes the costs of grants made to research institutions, lobbying and PR activities and other educational activities undertaken to further the purposes of the Charity and their associated support costs Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

1.10 Allocation of support costs Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the basis set out in note 4. Governance costs are the costs associated with the governance arrangements of the Charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the Charity’s activities.

1.11 Operating leases Rental charges are charged on a straight line basis over the term of the lease.

1.12 Tangible fixed assets Items of equipment are generally capitalised where the purchase price exceeds £250. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. Fixed assets include the office telephone system, laptops, PCs, software, furniture and ‘Wall of Hope’ panels. Where fixed assets have been revalued, any excess between the revalued amount and the historic cost of the asset will be shown as a revaluation reserve in the balance sheet. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows: Computers

3-5 years

Furniture and equipment

5 years

1.14 Stocks Stocks are stated at the lower of cost and net realisable value. In general, cost is determined on a first in first out basis and includes transport and handling costs. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation. Provision is made where necessary for obsolete, slow moving and defective stocks. Donated items of stock, held for distribution or resale, are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

1.15 Trade and other debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.16 Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.17 Creditors and provisions Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. A provision is used when there is uncertainty over the amount or timing of the liability.

Income from donations and legacies 2019 Unrestricted £

2019 Restricted £

2019 Total £

2018 Unrestricted £

2018 Restricted £

2018 Total £

1,461,136

–

1,461,136

1,314,428

–

1,314,428

Memorial donations

243,476

–

243,476

304,494

–

304,494

Individual donations

384,186

401,354

365,117

7,430

7,309

341,163

94,776

236,002

Fundraising

Donor marketing

7,430

17,168 –

7,440 –

372,557 7,309

Trusts

90,150

251,013

Legacies

67,970

–

67,970

12,511

–

12,511

174,679

–

174,679

153,363

–

153,363

2,697,208

2,251,998

Donations from Fundraising Groups* TOTALS

2,429,027

268,181

243,442

330,778

2,495,440

* F undraising Groups are supporter groups who organise events and other activities to raise money on behalf of and under the umbrella of Brain Tumour Research.

Income from other trading activities 2019 Unrestricted £

2019 Restricted £

2019 Total £

2018 Unrestricted £

2018 Restricted £

2018 Total £

Challenge events

580,948

–

580,948

541,375

–

541,375

Campaigns

289,199

–

289,199

306,836

–

306,836

Merchandise

37,932

–

37,932

38,248

–

38,248

Online fundraising

21,006

–

21,006

11,185

–

11,185

929,085

–

929,085

897,644

–

897,644

TOTALS

1.18 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

1.19 Pensions The charitable company operates two defined contributions pension schemes. The schemes are funded partly by contributions from the employees and from the Charity. Such contributions are held and administered completely independent of the charitable company’s finances. The contributions are made by the Charity and are accounted for on an accruals basis.

1.20 Trustees remuneration

1.13 Listed investments Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using

the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities and any excess of fair value over the historic cost of the investments will be shown as a fair value reserve in the balance sheet. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the statement of financial activities. The Charity does not acquire put options, derivatives or other complex financial instruments.

All trustees donate their time spent running the Charity on a voluntary basis and do not receive remuneration for their work, but are entitled to reimbursement for any expenses incurred in carrying out their duties.

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Notes to the Financial Statements 4a

(continued)

Analysis of expenditure

Analysis of expenditure (prior year)

Charitable activities Cost of raising funds £ Staff costs (Note 7):

576,990

Research £ 157,747

Campaigning & raising awareness £ 507,741

Charitable activities Members liaison, workshop & conferences £ 29,163

2019 Total £ 1,271,640

1,260,477

Direct costs: –

Challenge events

179,160

–

Printing

25,748

–

Advertising

31,272

–

Fundraising and other agency commission

52,023

–

Artwork and design

41,852

–

1,181,590

–

1,181,590

1,465,647

524,781

165,519

–

179,160

110,718

17,450

–

43,198

93,340

21,308

–

52,580

– –

– 28,361

Research grants committed (Note 5)

–

Challenge events

110,718

–

Printing

55,833

–

88,525

Advertising

52,839

–

52,023

81,398

Fundraising and other agency commission

81,398

–

70,213

61,906

Artwork and design

36,868

–

189,946

20,748

100,638

1,549

312,881

367,682

520,001

1,202,338

167,757

1,549

1,891,645

2,269,217

Support costs: Property costs

Staff costs (Note 7):

Research £

Campaigning & raising awareness £

Members liaison, workshop & conferences £

552,228

17,949

2018 Total £ 1,260,477

Direct costs:

Research grants committed (Note 5)

Other direct costs

Cost of raising funds £

2018 Total £

Other direct costs

1,465,647

–

1,465,647

–

110,718

37,507

–

93,340

35,686

–

88,525

–

81,398

–

61,906

– 25,038

308,938

28,530

26,369

3,845

367,682

646,594

1,494,177

124,600

3,845

2,269,216

Property costs

34,740

49,223

20,073

646

104,682

Support costs: 57,475

71,259

35,392

1,609

165,735

104,682

6,416

6,477

3,217

146

16,256

40,516

Training and development

13,446

19,051

7,769

250

40,516

Depreciation

13,181

16,343

8,117

369

38,010

39,120

Depreciation

12,982

18,395

7,501

242

39,120

Accounting, consulting and contractors’ fees

11,215

13,904

6,906

314

32,339

54,838

Accounting, consulting and contractors’ fees

18,199

25,785

10,515

339

54,838

Sundry other costs

49,951

61,931

30,759

1,398

144,039

153,513

Sundry other costs

50,945

63,133

29,437

948

153,513

138,238

169,914

84,390

3,837

396,379

392,669

130,312

184,637

75,295

2,425

392,669

5,092

7,215

2,942

15,344

954

1,352

551

2,876

1,827

2,589

1,056

5,505

7,873

11,156

4,549

147

23,725

1,309,560

1,855,489

756,673

24,365

3,946,087

Training and development

Governance costs:

Audit fee Trustee meeting costs Companies House and other fees

5,565 –

6,900 –

3,427 –

156 –

16,048 –

15,344

Audit fee

2,876

Trustee meeting costs Companies House and other fees

1,066

1,322

656

3,074

5,505

6,631

8,222

4,083

186

19,122

23,725

TOTAL EXPENDITURE 2019

1,241,860

1,538,221

763,971

34,734

3,578,786

3,946,087

TOTAL EXPENDITURE 2018

1,309,560

1,855,489

756,673

24,365

3,946,087

TOTAL EXPENDITURE 2018

Support and governance costs have been apportioned based on estimated usage as a proportion of directly attributable expenditure.

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Notes to the Financial Statements 5

(continued)

Grants payable

7 2019 £

2018 £

Staff costs were as follows:

Grant commitment brought forward

2,303,112

2,353,802

Grants committed in the year

1,236,937

1,622,541

Grants withdrawn in the year

(55,347)

(156,894)

(2,214,637)

(1,516,337)

1,270,065

2,303,112

Grants paid Grant commitment carried forward

Grants committed in the year £

Prior year grants withdrawn in the year £

Grants paid

Grants committed carried forward £

Payable within one year £

Payable after one year £

University of Portsmouth

435,396

214,408

(18,333)

(429,115)

202,356

–

University of Plymouth

527,726

225,917

(13,000)

(511,578)

229,065

183,585

45,480

Queen Mary University London

722,159

406,798

(3,054)

(632,296)

493,607

464,182

29,425

Imperial College London

578,349

349,814

(2,500)

(605,644)

320,019

308,019

12,000

39,482

40,000

(18,460)

(36,004)

25,018

2,303,112

1,236,937

(55,347)

(2,214,637)

1,270,065

1,183,160

University of Southampton

2019 £

2018 £

Salaries and wages

1,140,316

1,138,004

Social security costs

107,470

102,178

23,854

20,295

1,271,640

1,260,477

Employer’s contribution to defined contribution pension schemes

Grants committed in the year and the grant commitment carried forward at 30th June 2019 comprised: Grants committed brought forward £

Analysis of staff costs, Trustee remuneration and expenses, and the cost of key management personnel

No employee earned more than £60,000 during the year (2018: nil). The total employee benefits including pension contributions and employer’s national insurance of the key management personnel were £188,832 (2018: £187,576). The Charity Trustees were not paid and did not receive any other benefits from employment with the Charity in the year (2018: £nil). No Trustee received reimbursement of expenses incurred during the year (2018: £nil).

Staff numbers The average number of employees (headcount based on number of staff employed) during the year was as follows: 2019 number

Costs of generating funds 86,905

39,197

39,120

15.04

16.85

0.78

0.41

38.60

37.93

2017 £

2018 £ 93,980

51,870

Auditors’ remuneration (excluding VAT):

Other services

4.00

Related party transactions

Operating lease rentals:

Audit

4.16

2018 £

2019 £

Property

16.68

Members liaison, workshop and conferences

Net income / (expenditure) for the year This is stated after charging:

Depreciation

18.63

Research grants Campaigning and raising awareness

2018 number

9,300

13,000

500

(83)

Penny Hey A sister of the Chief Executive, Sue Farrington Smith Transactions made with the related party in relation to: Management accounting and database management services. Amount due to related party at balance sheet date was £1,652 (2018: £1,567) Wendy O’Brien A sister of the Chief Executive, Sue Farrington Smith Transactions made with the related party in relation to: Telemarketing and database building services. Amount due to related party at balance sheet date was £nil (2018: £nil) There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

21,924

17,706

760

8,965

Taxation The Charity is exempt from corporation tax as the majority of its income is charitable and is applied for charitable purposes. Non-charitable income in the Charity is within the allowable limits.

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Notes to the Financial Statements 11

(continued)

Tangible fixed assets

14 Computer equipment £

Fixtures and fittings £

113,003

67,069

180,072

5,278

–

5,278

Disposals in year

(10,964)

–

(10,964)

At the end of the year

107,317

57,143

34,394

91,537

Charge for the year

26,287

12,910

39,197

(10,964)

At the end of the year

72,466

–

(10,964) 47,304

Other

34,851

19,765

54,616

At the start of the year

55,860

32,675

88,535

All of the above assets are used for charitable purposes.

Listed investments

Fair value at the start of the year

2018 £

Additions at cost

–

Disposal proceeds

–

Net loss on change in fair value

(904)

Fair value at the end of the year

1,269

2,173

1,269

2,173

1,269

2,173

–

2,169

111,913

65,706

128,416

196,686

240,329

262,392

2018 £

15,000

2019 £

2018 £

1,183,160

2,019,148

109,634

91,400

1,292,794

2,110,548

2019 £

2018 £

Creditors: amounts falling due after one year

–

Investments comprise: UK Equities – 1,607 ordinary shares in Bonhill Group PLC (formerly Vitesse Media PLC)

Accruals and other creditors

2,173

5,305

Creditors: amounts falling due within one year

Grant commitments 2019 £

2,592

2019 £ Rent deposit

At the end of the year

58,232

Debtors: amounts recoverable in more than one year

119,770

Net book value

109,321

Staff loans

Prepayments

At the start of the year

Fundraising platforms

174,386

Depreciation

Eliminated on disposal

2018 £

Debtors represent amounts in respect of other debtors:

Additions in year

67,069

2019 £

Total £

Cost or valuation At the start of the year

Debtors

Dilapidations provision

23,375

15,275

Grant commitments

86,905

283,964

110,280

299,239

Investments are revalued at market value at the balance sheet date and any unrealised gain or loss is taken to the Statement of Financial Activities. Investments are intended to be available at short notice for use by the Charity in its charitable activities

Stock 2019 £

Merchandise and fundraising materials

2018 £

21,840

22,934

21,840

22,934

Stock comprises merchandise for resale such as caps, t-shirts, brooches and Christmas cards

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Notes to the Financial Statements

(continued)

18a Analysis of net assets between funds (current year) General unrestricted £

19a Movements in funds (current year)

Designated £

Restricted £

–

1,269

–

1,269

Other net current assets

(149,621)

–

Long term liabilities

(110,280)

–

(204,016)

–

Tangible fixed assets

54,616

Prepaid expenses more than one year in advance

–

Investments

NET ASSETS AT THE END OF THE YEAR

54,616 –

Prepaid expenses more than one year in advance Investments Other net current assets Long term liabilities NET ASSETS AT THE END OF THE YEAR

Restricted funds: (40,000)

–

2. The Danny Green Fund

–

13,700

(13,700)

–

(149,621)

3. The Masonic Charitable Foundation

–

50,000

(50,000)

–

(110,280)

4. Astro Brain Tumour Fund

–

21,920

(21,920)

–

(204,016)

5. The William Low Trust

–

2,000

(2,000)

–

6. In Sue’s Name

–

101,797

(101,797)

–

7. Bristol Myers Squibb

–

10,000

(10,000)

–

8. Andrew Kieft

–

6,250

(6,250)

–

9. Alsager Cancer Support

–

8,000

(8,000)

–

10. Various

–

918

(918)

– –

–

2,173

–

(28,492)

–

(13,596)

(299,239)

–

(237,023)

–

At the end of the year £

53,596

Restricted £

88,535

Expenditure and losses £

(13,596)

Designated £

Tangible fixed assets

Income and gains £

1. Charlie’s Challenge

18b Analysis of net assets between funds (prior year) General unrestricted £

At the start of the year £

2019 Total funds £

(13,596)

2018 Total funds £ 88,535 – 2,173 (42,088) (299,239) (250,619)

Total restricted funds

(13,596)

268,181

(254,585)

General funds

(237,023)

3,358,112

(3,325,105)

(204,016)

Total unrestricted funds

(237,023)

3,358,112

(3,325,105)

(204,016)

TOTAL FUNDS

(250,619)

3,626,293

(3,579,690)

(204,016)

Purposes of restricted funds

1. A previous grant from Charlie’s Challenge, a charity connected to a Trustee (Nigel Boutwood) was made with the express direction to fund a Histologist at the University of Portsmouth. Further grants have been received with the express direction to fund the brain tissue bank management (BRAIN UK) at the University of Southampton 2. The grant from The Danny Green Fund was made with the express direction to fund research at the University of Portsmouth 3. The grant from The Masonic Charitable Foundation was made with the express direction to fund the epigenome of neural stem cells and high grade gliomas research at the Queen Mary University of London 4. The grant from The Astro Brain Tumour Fund was made with the express direction to fund research at the University of Plymouth

6. The grant from In Sue’s Name was made with the express direction to fund a PhD researcher and other research at the Queen Mary University of London 7. The grant from Bristol Myers Squibb was made with the express direction to fund campaigning and raising awareness activities 8. The donation from Andrew Kieft was made with the express direction to fund Glioblastoma research 9. The donation from Alsager Cancer Support was made with the express direction to fund research at the University of Plymouth 10. Regular donations received from supporters were made with the express direction to fund brain tumour research at the University of Portsmouth

5. The grant from The William Low Trust was made with the express direction to fund research at the University of Portsmouth

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Notes to the Financial Statements

(continued)

19b Movements in funds (prior year)

20 At the start of the year £

Income and gains £

Expenditure and losses £

At the end of the year £

Restricted funds: 1. Charlie’s Challenge

(50,000)

6,798

29,606

2. The Danny Green Fund

–

10,690

(10,690)

–

3. The Masonic Charitable Foundation

–

50,000

(50,000)

–

4. Lewis Family Charitable Trust

–

30,644

(30,644)

–

5. Astro Brain Tumour Fund

–

10,960

(10,960)

–

6. In Sue’s Name

–

32,730

(32,730)

–

7. Annie’s Challenge

–

45,000

(45,000)

–

8. Jane Packer Foundation

–

19,180

(19,180)

–

9. Clowns in the Sky

–

30,000

(30,000)

–

10. Alsager Cancer Support

–

7,000

(7,000)

–

11. Various

–

440

(440)

–

243,442

(207,038)

(13,596)

Total restricted funds

(50,000)

(13,596)

General funds

–

3,149,642

(3,739,049)

(589,407)

Total unrestricted funds

–

3,149,642

(3,739,049)

(589,407)

3,393,084

(3,946,087)

(603,003)

TOTAL FUNDS

(50,000)

Purposes of restricted funds

1. A previous grant from Charlie’s Challenge, a charity connected to a Trustee (Nigel Boutwood) was made with the express direction to fund a Paediatric Research Fellow at the University of Portsmouth. This post is no longer being recruited. A further, separate award has been made with the express direction to fund a Histologist at the University of Portsmouth. This award has been settled post year end

2. The grant from The Danny Green Fund was made with the express direction to fund research at the University of Portsmouth 3. The grant from The Masonic Charitable Foundation was made with the express direction to fund the epigenome of neural stem cells and high grade gliomas research at the Queen Mary University of London 4. The grant from The David and Ruth Lewis Family Charitable Trust was made with the express direction to fund gliobastoma multiforma research at the Queen Mary University of London

2018 £

2019 £ Net income for the reporting period (as per the statement of financial activities)

46,603

(553,003)

Depreciation charges

39,197

39,120

Loss on investments

(Increase) / decrease in debtors (Decrease) in creditors Decrease in debtors over one year in advance

1,094

974

22,063

(20,551)

(1,006,713)

(100,441) 111,090

–

NET CASH (USED IN) OPERATING ACTIVITIES

–

904

Decrease in stocks

(522,811)

(896,852)

Analysis of cash and cash equivalents At 1st July 2018 £

Cash flows £

Other changes £

At 30th June 2019 £

Cash at bank and in hand

1,768,134

(902,130)

–

866,004

TOTAL CASH AND CASH EQUIVALENTS

1,768,134

(902,130)

–

866,004

Operating lease commitments The Charity’s total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods.

6. The grant from In Sue’s Name was made with the express direction to fund research at the Queen Mary University of London

Property 2019 £

2018 £

7. The grants from Annies Challenge was made with the express direction to fund research at the Queen Mary University of London including £30,000 to fund a PhD student

Less than one year

105,440

100,184

8. The grant from the Jane Packer Foundation was made with the direction to fund research at the Queen Mary University of London and Imperial College

One to five years

316,321

395,402

421,762

495,586

9. The grant from Clowns in the Sky was made with the express direction to fund Blood Brain Barrier research at the University of Portsmouth 10. The donation from Alsager Cancer Support was made with the express direction to fund research at the University of Plymouth 11. Various low value donations received from supporters which were made with the express direction to fund brain tumour research

5. The grant from The Astro Brain Tumour Fund was made with the express direction to fund research at the University of Plymouth

Reconciliation of net income / (expenditure) to net cash flow from operating activities

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Legal status of the Charity The Charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

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Brain Tumour Research – Registered Charity 1153487 (England and Wales) and SC046840 (Scotland), Company Limited by Guarantee 08570737. Report of The Trustees and Accounts, Year Ended 30th June 2019

Annual Report and Financial Statements for the Year Ended 30th June 2019

Brain Tumour Research Suite 3, Shenley Pavilions, Chalkdell Drive, Shenley Wood, Milton Keynes, MK5 6LB www.braintumourresearch.org Tel: 01908 867200 campaigning@braintumourresearch.org

Registered charity number 1153487 (England and Wales) SC046840 (Scotland). Company limited by guarantee number 08570737.