CANCER
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Leukaemia & Lymphoma Research 1 Notes to the Accounts for the year ended 31 March 2014 HOW WE’RE BEATING BLOOD CANCER Report of the Trustees and Financial Statements for year ended 31 March 2015
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Leukaemia & Lymphoma Research 1<br />
Notes to the Accounts for the year ended 31 March 2014<br />
HOW WE’RE<br />
BEATING BLOOD<br />
<strong>CANCER</strong><br />
Report of the Trustees and Financial Statements<br />
for year ended 31 March 2015
Bloodwise 2<br />
Report of the Trustees for the year ended 31 March 2015<br />
On 2 April 2015 Leukaemia & Lymphoma Research was<br />
registered with Companies House as Bloodwise and this<br />
change was also made with the Charity Commission<br />
and OSCR, the Scottish charity regulator. We’ll continue<br />
to operate as Leukaemia & Lymphoma Research until<br />
September 2015.<br />
The decision to change our name was made by our Trustees<br />
on 19 March 2015, following a robust review process over<br />
an 18 month period, coupled with a two-year research<br />
programme into the needs of patients.<br />
We chose Bloodwise because it embraces all blood cancer<br />
patients: there are over 100 different blood cancers and<br />
related disorders. It unites everything we do, from our<br />
research to our patient support services and fundraising.<br />
It’s a brand new word, dedicated to people affected by<br />
blood cancer.<br />
Research remains central to all that we do. In the coming<br />
months and years we’ll show the world what it means to be<br />
Bloodwise – and create a movement of Bloodwise people.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 3<br />
Report of the Trustees for the year ended 31 March 2015<br />
CONTENTS<br />
PAGE<br />
OUR YEAR AT A GLANCE 4<br />
THANK YOU FROM OUR CHAIRMAN 5<br />
ACHIEVING OUR VISION 6<br />
STRATEGIC REPORT 7<br />
HOW WE WORK 43<br />
STATEMENT OF TRUSTEE RESPONSIBILITIES 47<br />
INDEPENDENT AUDITOR’S REPORT 48<br />
GROUP STATEMENT OF FINANCIAL ACTIVITIES 50<br />
BALANCE SHEETS 52<br />
CASH FLOW 53<br />
ACCOUNTING POLICIES 54<br />
NOTES TO THE ACCOUNTS 56<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
INTRODUCTION<br />
Bloodwise 4<br />
Report of the Trustees for the year ended 31 March 2015<br />
Our year at<br />
a glance<br />
OUR INCOME<br />
FINANCIAL YEAR 2015<br />
Total income £20,588,000<br />
1.1%<br />
2.8%<br />
6.9%<br />
FINANCIAL YEAR 2014<br />
Total income £21,656,000<br />
1.2%<br />
1.5%<br />
7.1%<br />
Voluntary income<br />
Legacies<br />
30.3%<br />
58.9%<br />
31.4%<br />
58.8%<br />
Retail<br />
Research income<br />
Investment and other income<br />
OUR EXPENDITURE<br />
FINANCIAL YEAR 2015<br />
Total expenditure £31,561,000<br />
Expenditure – FY15<br />
FINANCIAL YEAR 2014<br />
Total expenditure £26,565,000<br />
4.8% 0.6% Expenditure – FY14<br />
3.1% 0.9% Cost of generating funds<br />
19.9%<br />
22.1%<br />
74.7%<br />
73.9%<br />
Charitable – research<br />
Charitable – patient experience<br />
Governance<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 5<br />
Report of the Trustees for the year ended 31 March 2015<br />
Thank you from our<br />
chairman<br />
2015 marks the 55th anniversary of Leukaemia &<br />
Lymphoma Research. Since we began in 1960 we have<br />
invested £500 million in research and helped to save<br />
and improve the lives of very many patients.<br />
This year has been an exceptional year in the<br />
progress that we have made for patients, but we are<br />
disappointed to end the year with a reduction in<br />
income.<br />
Two years ago we began to think about what the future<br />
for patients should look like and our role in making<br />
this happen. After the unimaginable advances over<br />
the last 55 years could we beat blood cancer in this<br />
lifetime?<br />
During this period of review we have conducted the<br />
most comprehensive research ever into the needs of<br />
patients. This has involved 19 focus groups in cities<br />
across the UK, one to one interviews with patients and<br />
health professionals and a landmark national survey<br />
that thousands of people have completed.<br />
We have also conducted market research about<br />
awareness of our charity, consulted with diverse<br />
stakeholder groups across our organisation and given<br />
very careful consideration to the role our name can<br />
and should play in our future success.<br />
The findings from this research, like much of our<br />
research, were frankly revelatory and have helped us<br />
to shape our future plans with clarity and conviction.<br />
››<br />
Changing the name of our charity to Bloodwise.<br />
Bloodwise universalises our cause and embraces all<br />
blood cancer patients. It unites all that we do from<br />
our research to our patient support services and<br />
fundraising.<br />
We know that it is very different and quite surprising,<br />
but it’s also short, simple and easy to remember, which<br />
is so important when you’ve just been diagnosed with<br />
blood cancer.<br />
Together we hope that these activities will begin<br />
to create the foundations for a clearly defined,<br />
collaborative sector for blood cancer patients and of<br />
course research will remain central to all that we do.<br />
In considering how we can accelerate progress for<br />
patients, we have also reviewed how we can ensure<br />
that we maximise expenditure on patient benefit<br />
each year. This has included careful consideration of<br />
sector thinking about reserves. The reduction in our<br />
net assets is a planned response to this thinking and<br />
in future years we would expect to end the year with<br />
negative net assets. For more information on this see<br />
page 38<br />
These are very exciting times, which are made possible<br />
because of your support.<br />
We will not stop until we have beaten blood cancer.<br />
Thank you.<br />
In response to the unparalleled insight and evidence<br />
that we now have, in the coming year we will be:<br />
››<br />
Delivering a new signposting service for patients<br />
and health professionals to give them the one<br />
authoritative, collaborative source of trusted<br />
information that they seek<br />
Pelham Allen<br />
Chairman<br />
››<br />
Launching a blood cancer awareness campaign<br />
to begin to reverse the lack of awareness of blood<br />
cancers and of the organisations that are here<br />
to help<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 6<br />
Report of the Trustees for the year ended 31 March 2015<br />
Achieving our vision<br />
Every 14 minutes someone in the UK is diagnosed<br />
with blood cancer or a related disorder. That’s almost<br />
38,000 people every year. Although blood cancer<br />
research is one of the most advanced and innovative<br />
parts of science, the fact that there are more than 100<br />
different types of blood cancer makes our job a very<br />
complex one.<br />
ALL HAEMATOLOGICAL<br />
NEOPLASM<br />
EXPECTED NO.<br />
OF CASES<br />
Total 37,990<br />
Although blood cancers mainly affect people over<br />
50, they’re unusual because they can affect anyone<br />
regardless of age and lifestyle.<br />
And because there are so many types of blood cancer,<br />
it’s often not recognised that together they are the<br />
third biggest cancer killer in the UK.<br />
Thanks to research, significant progress has been<br />
made. Today, two thirds of everyone diagnosed with<br />
blood cancer or related pre-cancerous condition will<br />
still be with us in five years’ time. When we started,<br />
very few survived for this long.<br />
There have been many successes. The transformation<br />
in survival for the most common form of childhood<br />
leukaemia from zero in 1960 to 92% (for those taking<br />
part in the latest clinical trials) today; the development<br />
of the first magic bullet therapies in chronic myeloid<br />
leukaemia; the use of monoclonal antibodies in<br />
diagnosis and treatment; and more recently the<br />
development of cell based therapies. These are just<br />
some of the achievements to date.<br />
Our vision is to beat blood cancer and our mission is<br />
to stop people from dying of blood cancer; to make<br />
patients’ lives better; and to stop blood cancers from<br />
happening in the first place.<br />
To achieve this we invest in a robust translational<br />
pipeline of research, in patient services that improve<br />
the experience of patients, on acting as a voice for<br />
patients by campaigning and on generating awareness<br />
and income. We also share our learning and work with<br />
others to achieve results more quickly.<br />
With thanks to HMRN for the statistics shown on<br />
this page hmrn.org/statistics/incidence<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 7<br />
STRATEGIC REPORT<br />
STRATEGIC REPORT<br />
Our strategy<br />
Our three-year strategy ‘An integrated approach to<br />
accelerating patient impact’ defines how we’ll achieve<br />
even more for patients by 2017. From a strong evidence<br />
base, we’ll be able to more clearly define the tangible<br />
steps that we need to take to ensure that we achieve<br />
our vision to beat blood cancer. As you’ll see, we’ve<br />
made significant strides forward this year.<br />
Our mission is to stop people dying from blood cancer;<br />
to make patients’ lives better and to stop blood cancers<br />
happening in the first place.<br />
We’ve always described what we’ll do to achieve our<br />
mission like this:<br />
››<br />
We’ll inspire new treatments and better care.<br />
››<br />
We’ll drive smarter and faster diagnosis.<br />
››<br />
We’ll reveal how blood cancer works.<br />
››<br />
We’ll build communities and share understanding.<br />
››<br />
We’ll be a voice of influence and champion patients’<br />
needs.<br />
Because of our research into patient need this year, we<br />
plan to simplify the way we describe this in the future,<br />
to more clearly signal how we help patients and their<br />
families.<br />
In the future we’ll describe what we do to achieve our<br />
mission like this:<br />
››<br />
We research.<br />
››<br />
We help.<br />
››<br />
We campaign.<br />
››<br />
We share learning.<br />
››<br />
We raise money.<br />
Our belief is that life is a gift to be used wisely and<br />
lived fiercely. It’s thanks to our indomitable team<br />
of patients, carers, clinicians, nurses, volunteers,<br />
trustees, fundraisers and employees that we can be<br />
quite certain that we won’t stop until we have beaten<br />
blood cancer.<br />
Life is a gift to be used wisely<br />
and lived fiercely.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 8<br />
STRATEGIC REPORT<br />
We’ve defined five strategic goals that will accelerate<br />
our progress in beating blood cancer.<br />
GOAL 1: OPTIMISE PATIENT IMPACT<br />
There are many ways we can save and improve the lives<br />
of patients in the short, medium and long term. This<br />
goal makes sure that we continue to prioritise and to<br />
make robust decisions based on evidence.<br />
GOAL 2: ACHIEVE A STEP CHANGE<br />
IN INCOME<br />
While goal 1 will help us to be even more effective with<br />
the money we spend, this goal will enable us, quite<br />
simply, to do even more. We know that if we could<br />
double our income, there are research opportunities<br />
and patient activities that would accelerate our<br />
progress yet further.<br />
GOAL 4: IMPROVE OUR REACH, REPUTATION<br />
AND BRAND<br />
Our success depends upon people knowing about us<br />
and having trust and confidence in what we stand for<br />
and achieve as an organisation. It’s therefore vitally<br />
important that we reach many audiences, including<br />
patients, carers, health professionals and the public, if<br />
we’re to do all that we can to achieve our vision.<br />
GOAL 5: STRENGTHEN THE ORGANISATION<br />
We employ over 100 people and it’s important that we<br />
appropriately invest in our employment policies, our<br />
learning and development, our working environment,<br />
the way we work and our governance to ensure that we<br />
have a team who enjoy living their working life fully<br />
and to the very best of their ability.<br />
GOAL 3: LEVERAGE RESOURCE THROUGH<br />
PARTNERSHIP<br />
Over the years, as we’ve gained an unparalleled<br />
knowledge of blood cancers and improved our<br />
understanding of the needs of patients, we’ve also<br />
recognised the important role that we can play as a<br />
voice of authority and influence. This means that we’re<br />
well placed to help facilitate collaborations and bring<br />
resource to our mission that may not be recognised as<br />
income, but is vital to accelerate progress.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 9<br />
STRATEGIC REPORT<br />
GOAL 1<br />
Optimising patient<br />
impact<br />
This has been an unprecedented year for optimising<br />
patient impact.<br />
We’ve made one of our largest ever investments in<br />
research of over £32 million, including a £6.3 million<br />
commitment to our Trials Acceleration Programme.<br />
We’ve seized every opportunity to be a voice of<br />
influence for patients.<br />
We’ve restructured and reviewed our patient services<br />
– and as the year ended we appointed our first ever<br />
Patient Experience Director, who brings with her 18<br />
years of working with breast cancer patients.<br />
We’ve also reported on the findings of our first phase<br />
of research into patient need, shared the findings with<br />
other organisations and shaped priority responses<br />
to be delivered in the year ahead which we believe<br />
will begin to clearly define a sector for blood cancer<br />
patients.<br />
In thinking about how we optimise patient impact,<br />
we’ve looked very carefully at our reserves policy to<br />
see if we can make all of our assets work even harder<br />
for patients.<br />
A traditional definition of reserves based on net assets<br />
(free reserves) compares total assets to total liabilities,<br />
without regard for the timeframe in which those<br />
liabilities will become payable.<br />
Our grant commitments are long-term, recognised as<br />
liabilities in one year but only payable up to three years<br />
later. The challenge for us therefore is not do we have<br />
sufficient assets to pay all of our liabilities, but have<br />
we got enough assets now to pay the liabilities that are<br />
due now.<br />
In this respect, liquidity is a more important measure<br />
than net assets. For this reason, cash and investments<br />
are a more appropriate definition of reserves than net<br />
assets.<br />
The reduction in our net assets is a deliberately<br />
managed position to enable us to commit more to<br />
research, more quickly. By the end of the next financial<br />
year we plan to have a negative net asset position,<br />
which is wholly consistent with our reserves policy on<br />
page 38.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 10<br />
STRATEGIC REPORT<br />
RESEARCH<br />
Revealing how blood cancer works underpins our<br />
ability to design new targeted and stratified treatment<br />
approaches, as well as our ability to constantly refine<br />
and increase the effectiveness of existing treatments<br />
and reduce their toxicity.<br />
There are cross cutting characteristics of all cancers,<br />
sometimes called ‘hallmarks’, that are mechanisms<br />
that must be disrupted for cancer to take hold. Because<br />
blood cancers are different to solid tumours, some of<br />
the hallmarks are more relevant for us than others.<br />
Understanding of these hallmarks is unparalleled in<br />
blood cancers and the progress that we’ve made in<br />
this respect has enhanced understanding of diseases<br />
beyond blood cancer.<br />
Each cell in our body is controlled by a molecular<br />
orchestra that governs its growth and movement. These<br />
involve factors that stimulate growth and division,<br />
safety switches that kick in if a cell is damaged,<br />
a hardwired finite lifespan, and signals between<br />
neighbouring cells to remain where they belong.<br />
Faults in the proteins that make up these critical<br />
control mechanisms can lead to the uncontrolled cell<br />
growth and abnormal cell behaviour characteristic<br />
of cancer. These faults arise when the DNA sequence<br />
within the cell, which provides the template for<br />
making new proteins, picks up errors.<br />
Increasingly, we’re defining diseases by more specific<br />
molecular changes in a cell that might respond to<br />
different therapies.<br />
This means we’re starting to collate patients into<br />
groups by virtue of their likelihood to benefit from<br />
differing therapies, rather than the traditional<br />
definitions of the symptoms patients present with<br />
at diagnosis and what their cells look like down a<br />
microscope. Exciting times!<br />
Over the next few pages we’ll give you a snapshot of<br />
some of the research we’ve invested in this year, in the<br />
context of the hallmarks that are relevant to us in the<br />
blood cancer community.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 11<br />
STRATEGIC REPORT<br />
HIDING FROM THE IMMUNE POLICE<br />
Many cells, such as white blood cells,<br />
patrol the body to seek out foreign<br />
invaders or rogue cells and flag them for<br />
destruction. To avoid this, cancer cells may<br />
send out ‘I’m friendly’ signals to make them invisible<br />
to the immune system. Scientists are developing ways<br />
to unveil this invisibility cloak to usher in a killer<br />
immune attack.<br />
Professor Francesco Dazzi at Kings College London<br />
has a £1 million programme to develop ways, using<br />
different facets of the immune system, to overcome<br />
this immune cloaking to unleash a killer response.<br />
These sorts of approaches have the potential to be<br />
truly personalised.<br />
We’re also supporting early stage clinical trials in<br />
Oxford and Southampton to test new modified immune<br />
proteins that stick to leukaemia or lymphoma cells and<br />
flag them to other killer white blood cells.<br />
THE HALLMARKS OF <strong>CANCER</strong><br />
IGNORING THE RED LIGHT<br />
Cells are constantly monitoring and<br />
receiving signals from the surrounding<br />
environment. The signals determine when new cells<br />
are needed and when growth should be stopped. These<br />
provide a counter-balance to the ‘go’ signals and make<br />
sure cells are put in sleep mode at the right times.<br />
Cancer cells acquire genetic faults that mean they are<br />
insensitive to growth-preventing signals from their<br />
neighbours that normally act as safety valves against<br />
uncontrolled cell growth.<br />
Dr Jonathan Strefford at the University of Southampton<br />
has a £250,000 project that will use cultured and<br />
isolated leukaemia cells to discover how faults in a key<br />
protein prevent chronic lymphocytic leukaemia (CLL)<br />
cells from being pushed to cell death by surrounding<br />
signals or drugs. This will help us better understand<br />
disease progression and to develop ways to overcome<br />
drug resistance.<br />
ENDLESS NEW CELLS<br />
Chromosomes – the packets of genetic<br />
material in our cells – have protective<br />
caps at their ends, like the plastic at the<br />
ends of shoelaces. As normal cells grow<br />
and divide, these protective caps get nibbled away.<br />
When they get too short, the cell enters sleep mode or<br />
activates its cell death program. This means normal<br />
cells have a finite limit on the number of divisions –<br />
another safety mechanism to prevent uncontrolled<br />
growth.<br />
Certain genetic faults, however, can cause overactivation<br />
of proteins that keep lengthening the<br />
protective caps, meaning they’re capable of limitless<br />
growth and division. The DNA in these immortal cells<br />
become more and more damaged over time, leading to<br />
cancer.<br />
When a protein called NF-kB switches on it triggers a<br />
cell to multiply. Faults in this protein can cause it to<br />
become permanently active, pushing the cell towards<br />
endless growth. Professor Guido Franzoso’s team<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 12<br />
STRATEGIC REPORT<br />
at Imperial College have developed a new drug that<br />
blocks faulty NF-kB signals in myeloma, and a new<br />
project seeks to test whether the same effects can be<br />
seen in diffuse large B-cell lymphoma.<br />
A WOUND THAT NEVER HEALS<br />
Inflammation in tissues is how the body<br />
responds to injury. It helps bring in the<br />
cells needed to remove old cells and<br />
make new ones. Just as the immune cells<br />
gather near a site of injury to begin tissue repair,<br />
cancers mimic these signals to surround themselves<br />
with immune cells to promote their uncontrolled cell<br />
growth.<br />
A new project at Kings College in London will<br />
investigate how corrupted non-cancerous cells in<br />
leukaemia potentially block the action of killer<br />
white blood cells, preventing removal of the cancer<br />
cells. This is to develop strategies to re-educate the<br />
corrupted surrounding cells to improve new and<br />
existing immunotherapies.<br />
GENETIC CHAOS<br />
Cancer is a disease of the genes. Errors<br />
in DNA – sometimes inherited but more<br />
often acquired during a person’s lifetime<br />
– disrupt the normal ‘stop / go’ switches,<br />
leading to cells growing out of control.<br />
As the safety switches and repair mechanisms<br />
are bypassed, the cancer cells become a hotbed<br />
of genetic faults – further disrupting the cellular<br />
machinery. Different daughter cells pick up different<br />
combinations of abnormalities, and daughter cells<br />
with faults that best allow them to survive and grow<br />
will dominate. They pass on the ‘cancer-promoting’<br />
genetic abnormalities to their daughter cells and the<br />
vicious circle continues.<br />
Our scientists at the Institute of Cancer, led by<br />
Professor Mel Greaves, Sutton are cataloguing the<br />
series of genetic abnormalities acquired by cancer cells<br />
in acute lymphoblastic leukaemia in children. This is<br />
highlighting the key steps that need to happen for the<br />
disease to occur, raising the possibility that we’ll be<br />
able to develop preventative therapies.<br />
We’ve also supported a national consortium to<br />
decipher the DNA sequence of individual patients<br />
with aggressive non-Hodgkin lymphomas, with the<br />
aim to match them to particular drugs that target the<br />
specific biological faults driving the cancer. The goal<br />
is to design a broad genetic profiling test to identify, in<br />
advance, the drugs patients are most likely to benefit<br />
from, especially if they relapse.<br />
REFUSING TO DIE<br />
When a cell divides to make new cells,<br />
it has to duplicate its DNA and produce<br />
all the cellular machinery needed in the<br />
new cells. Each cell has a series of in-built<br />
quality control steps – if the cell has any damage, the<br />
cell division process is stopped until the damage is<br />
repaired. If the damage is too great to repair, the cell<br />
gets stalled at one of the checkpoints and initiates a<br />
tidy cell death program that leaves no trace of the cell<br />
behind. Genetic faults in cancer cells bypass these<br />
safety checkpoints and let it escape the cell death<br />
program, meaning damaged cancerous cells can carry<br />
on growing.<br />
Drugs like imatinib have been transformational in<br />
controlling chronic myeloid leukaemia, but they don’t<br />
cure the disease and relapse is possible. Professor<br />
Tessa Holyoake in Glasgow has a £1.8 million<br />
programme which is investigating whether crippling<br />
other molecular gatekeepers of cell growth and<br />
division can eliminate the ‘master’ leukaemia stem<br />
cells.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 13<br />
STRATEGIC REPORT<br />
FUELLING FASTER GROWTH<br />
Many cancer cells grow quickly, and need a<br />
rapid energy supply to fuel the production<br />
of new cells. To do this, the cancer quickly<br />
churns out energy-carrying molecules by<br />
hijacking mechanisms normally reserved for times<br />
when oxygen is low or lots of cells are urgently needed<br />
to fight infection. This has been known for a long time,<br />
but has gained renewed interest as scientists have<br />
realised that blocking it is a possible way of starving<br />
the cancer of its fuel.<br />
At University College London Dr Stephen Daw is<br />
leading the UK arm of a large international clinical<br />
trial for children, adolescents and young adults with<br />
newly diagnosed Hodgkin lymphoma. Cure for these<br />
patients often comes after gruelling treatment and<br />
at the expense of long-term health problems because<br />
of the side effects of the treatment, particularly<br />
radiotherapy. By using PET scans that detect abnormal<br />
metabolic activity in cancer cells, the trial aims to<br />
reduce the use of radiotherapy in lower risk patients<br />
who respond well to initial chemotherapy, and to<br />
reduce the intensity of radiotherapy in patients who<br />
still need it.<br />
FOOT ON THE GAS<br />
Normal cells can’t multiply without<br />
the right level of ‘go ahead’ message<br />
from growth signals within the tissue.<br />
But cancer cells don’t rely on external<br />
stimulation: they’re self-sustaining.<br />
They keep themselves alive by making growth signals<br />
themselves, by becoming super sensitive to signals<br />
around them or turning the light switch to ‘always on’.<br />
Many targeted therapies, such as imatinib, work by<br />
dampening these ‘go’ signals.<br />
Professors Conny Bonifer and Peter Cockerill have<br />
a £1.5 million programme at the University of<br />
Birmingham which is focusing on regulator proteins<br />
that have gone awry in one of the biggest blood<br />
cancer killers, acute myeloid leukaemia (AML). As a<br />
consequence the activities of hundreds of genes under<br />
their control are inappropriately altered.<br />
The team want to understand how these changes affect<br />
the growth signalling pathways in different types<br />
of AML and whether drugs can be used to target or<br />
reverse the changes.<br />
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FIRST IN HUMAN TRIALS<br />
Over the years we’ve developed a robust pipeline of<br />
research from basic biology to phase 3 trials, but<br />
with one gap: first in human trials. These trials aim<br />
to find out if a drug behaves in a human being in the<br />
way researchers expect it to following their laboratory<br />
studies. For the first time this year we’ve supported<br />
two first in human trials.<br />
Advancing our mission can often be better achieved<br />
through collaboration. One of the trials is in<br />
partnership with Cancer Research UK’s Centre for Drug<br />
Development. Arising from Professor Mark Cragg’s<br />
research at the University of Southampton, Professor<br />
Andy Davies will lead a trial that exploits a novel<br />
antibody approach in combination with rituximab in<br />
chronic lymphocytic leukaemias and lymphomas.<br />
In the second trial, Professor Paresh Vyas in Oxford is<br />
trialling a new antibody developed in conjunction with<br />
Stanford University in AML patients.<br />
INVESTING IN INFRASTRUCTURE<br />
Biobanks are large collections of biological or medical<br />
data and tissue samples, gathered for research<br />
purposes. They’re a powerful tool in the study of<br />
complex diseases.<br />
We renewed funding of the Childhood Leukaemia Cell<br />
Bank this year, which underpins the UK as a major<br />
player in childhood acute lymphoblastic leukaemia<br />
research. It’ll be vital if we’re to develop biological<br />
therapies to replace the current aggressive and toxic<br />
treatments. Samples from the bank have already been<br />
used to make important new discoveries about how<br />
leukaemia develops and improved ways of managing<br />
the disease in children.<br />
SHARING LEARNING<br />
This year we’ve worked with other medical research<br />
charities including Cancer Research UK, Arthritis<br />
Research UK and the British Heart Foundation to<br />
launch a new Open Access Fund. This fund will help to<br />
make research paid for by the public freely available,<br />
as soon as it’s published.<br />
This model allows knowledge to be shared faster<br />
and promotes innovation, accelerating progress that<br />
can help lead to patients accessing better treatments<br />
sooner.<br />
TRIALS ACCELERATION PROGRAMME<br />
Three years ago we identified that lack of access to<br />
early phase clinical trials created unmet need and<br />
hindered our ability to translate potential research<br />
findings into patient benefit.<br />
Just 6% of blood cancer patients had access to early<br />
phase trials compared with an average of 19% across<br />
all cancers. With the expertise of Professors Charlie<br />
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Craddock and Peter Hillman and the passion of<br />
former England footballer and leukaemia survivor<br />
Geoff Thomas, we designed a solution: the Trials<br />
Acceleration Programme (TAP).<br />
The unique design of the programme enables<br />
researchers to do what they do best, which is to ask the<br />
research questions that might lead to new treatments<br />
for patients. They’re supported by a central hub in<br />
Birmingham, housed in the Cancer Research UK<br />
Clinical Trials Unit: this hub has the bureaucracy and<br />
administration of setting up trials nailed, thanks to<br />
the necessary skills in contract negotiation and ethics<br />
amongst other things. This means that everyone<br />
involved can play to their strengths and progress can<br />
be made more quickly.<br />
We’ve also provided funding for research nurses or<br />
data analysts to enable 13 centres to be networked<br />
in the TAP. This means more equal access to trials<br />
throughout the UK. And because the centres<br />
recruit patients at the same time, we accelerate the<br />
recruitment and reduce the duration of the trials.<br />
This year the two-year pilot phase of TAP was<br />
reviewed by an international panel of blood cancer<br />
and solid tumour experts from Europe and the US.<br />
It also included the director of the National Cancer<br />
Research Institute (NCRI) and representatives from<br />
pharmaceutical companies. The panel was chaired<br />
by Professor Christine Chomienne, President of the<br />
European Haematology Association.<br />
At the time of the review, 14 trials had been approved<br />
and 7 opened, with 300 patients recruited against a<br />
target accrual of 950. There are now 15 approved trials<br />
and 10 open for recruitment.<br />
The panel were unanimous in their conclusion that<br />
TAP has been a great success.<br />
The panel agreed that the pilot had tested and proven<br />
the case for a centralised hub and although the<br />
ambitious target of six months to open a trial hadn’t<br />
been met, the recruitment of patients had been on<br />
target once the trial opened.<br />
I applaud the progress you’ve<br />
made from a standing start,<br />
and I fully support you in your<br />
endeavours.<br />
A letter from Sean Duffy, National Clinical Director<br />
for Cancer, supported the panel’s conclusion.<br />
The panel especially noted innovative statistical and<br />
trial design, as well as the fact that nearly £100 million<br />
of drugs had been leveraged from pharmaceuticals<br />
during the pilot phase. One partner, Novartis, noted<br />
that TAP had enabled a 50% reduction in the cost of<br />
putting a patient through the trial.<br />
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STRATEGIC REPORT<br />
In an era where the old model of drug development<br />
takes too long and is simply too expensive – and<br />
in a year when the Cancer Drugs Fund has been<br />
challenged and will continue to be challenged – TAP is<br />
a demonstration of a new, more cost effective way to<br />
deliver new treatments.<br />
We plan to progress conversations with the National<br />
Institute for Clinical Excellence (NICE) to make some<br />
new drugs available earlier than normal, for discrete<br />
groups of patients who need them urgently.<br />
to cover the funding of the hub for five years from<br />
January 2015 and the centres for two years, pending a<br />
full review of the centres in 2016. A TAP manager has<br />
been recruited to ensure that the key metrics that will<br />
demonstrate the success of TAP are achieved.<br />
With TAP and our investment in non-TAP trials, this<br />
year has seen our biggest investment ever in clinical<br />
trials of £9.5 million.<br />
We committed further funding of £6.3 million to TAP<br />
The route to de-costing<br />
medicines is de-risking them<br />
for pharmaceuticals. This<br />
means deeper development by<br />
the academic sector and the<br />
uptake by industry of only the<br />
medicines that are most likely<br />
to be successful and therefore<br />
licensed. This means no loss<br />
leaders and cheaper drugs.<br />
Chris Bunce, Research Director.<br />
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STRATEGIC REPORT<br />
RESEARCH INTO<br />
PATIENT NEED<br />
There’s no doubt that our investment in blood<br />
cancer research has helped to achieved unparalleled<br />
understanding of the biology of these complex<br />
cancers and revealed many opportunities for<br />
therapeutic intervention.<br />
As we approached our 55th anniversary, we began to<br />
consider how we might achieve the progress in the<br />
next 55 years that will mean we succeed in our vision<br />
of beating blood cancer. We wanted to make sure that<br />
we could do even more to save and improve the lives<br />
of patients in the short, medium and long term.<br />
We recognised that although there was useful data<br />
available about blood cancers, there wasn’t one<br />
comprehensive and authoritative source to go to – and<br />
in particular there hadn’t been a comprehensive study<br />
of patients and their needs. One of the first jobs for<br />
our newly appointed Head of Insight, two years ago,<br />
was to define a programme of research to create this<br />
evidence base.<br />
We aimed to combine the wisdom of patients, carers,<br />
clinicians, patient organisations, policy makers and<br />
researchers working at the cutting edge of blood<br />
cancer intelligence. We teamed these voices with the<br />
most comprehensive blood cancer data and research<br />
in the UK to build a holistic evidence base to inform<br />
our decisions, now and in the future.<br />
From an initial pilot study, we’ve now conducted an<br />
online patient need survey with over 1,700 people<br />
affected by blood cancer.<br />
We’ve also conducted an online survey of the general<br />
public’s awareness of blood cancer conditions,<br />
with 2,000 interviews conducted of a nationally<br />
representative sample of adults living in Great Britain.<br />
We wanted to enrich the quantitative data with<br />
qualitative research, so we carried out patient and<br />
carer focus groups and in-depth interviews with<br />
patients and health professionals.<br />
We also conducted a data analysis and literature<br />
review of key cancer data from the Haematological<br />
Malignancy Research Network (HMRN), the National<br />
Cancer Intelligence Network (NCIN) and the National<br />
Cancer Patient Experience Survey (NCPES). This was<br />
supported by an on-going literature review of blood<br />
cancer research, current treatments and patient<br />
experience studies.<br />
24 KEY AREAS OF NEED<br />
1. Blood cancer awareness<br />
2. The biggest killers<br />
3. Early deaths<br />
4. Pre-malignant conditions<br />
5. Diagnosis<br />
6. Relationship with medical profession<br />
7. Role of the GP<br />
8. Clinical Nurse Specialists<br />
9. Information and advice<br />
10. Peer-to-peer support<br />
11. Empowering patients<br />
12. Blood cancers are different<br />
13. Role of carers<br />
14. Support for others<br />
15. Psychological support<br />
16. Apparent lack of provision<br />
17. Watch and wait<br />
18. Access to new drugs and treatment<br />
19. Age and ageing<br />
20. Clinical trials<br />
21. Socio-economic factors<br />
22. Reducing secondary cancers<br />
23. Maintaining remission<br />
24. Post treatment<br />
The research has highlighted 24 key issues faced<br />
by patients across their experiences with blood<br />
cancer. They traverse the different stages of the<br />
patient experience: from initial awareness to<br />
diagnosis, right through to post-treatment and,<br />
for some, end of life care.<br />
Over time we plan to work with others to dig deeper<br />
and into all of the issues, but six issues stood out for<br />
us as requiring an urgent response.<br />
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1. THE BIGGEST KILLERS<br />
We now have a clear understanding of the conditions<br />
that have the biggest impact on lives lost. Our<br />
evidence has identified just five conditions that<br />
account for 69% of all lives lost within five years<br />
of diagnosis:<br />
››<br />
myeloma<br />
››<br />
diffuse large B-cell lymphoma (DLBCL)<br />
››<br />
acute myeloid leukaemia (AML)<br />
››<br />
myelodsyplastic syndromes (MDS)<br />
››<br />
chronic lymphocytic leukaemia (CLL).<br />
ANALYSIS OF LIVES LOST AT 5 YEARS POST DIAGNOSIS<br />
0 2 4 6 8 10 12 14 16 18 20<br />
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STRATEGIC REPORT<br />
2. PRE-MALIGNANT CONDITIONS<br />
The understanding and treatment of pre-malignant<br />
conditions may help prevent some of the cases of<br />
the biggest killers from occurring. Some MDS cases<br />
progress to (AML) and all cases of myeloma arise<br />
from a condition known as monoclonal gammopathy<br />
of unknown significance (MGUS). If we include the<br />
precursor conditions, we find that just six conditions<br />
account for 73% of total lives lost in the five years<br />
after diagnosis.<br />
3. EARLY DEATHS<br />
Analysing relative survival rates has shown us that<br />
for certain conditions, such as AML and DLBCL, half<br />
of the deaths occur within the first three months<br />
after diagnosis. This is a complex area – it could<br />
be that these cases represent the more vulnerable<br />
patients or those with the most aggressive hard-totreat<br />
forms of the disease, or it could be that we’re<br />
not diagnosing a significant group of patients early<br />
enough.<br />
Data from the National Cancer Intelligence Network<br />
(NCIN) for example shows that over half of AML<br />
patients are diagnosed in A&E – more than double the<br />
rate for cancer patients overall.<br />
4. CRISIS IN AWARENESS<br />
Our research has shown there’s low awareness of<br />
blood cancer and its symptoms amongst the general<br />
public – many patients being diagnosed with blood<br />
cancer have no pre-awareness or understanding of the<br />
disease they face.<br />
Symptoms are often vague and easily confused with<br />
relatively benign illnesses or old age, and many<br />
conditions are relatively rare as individual diseases.<br />
5. BLOOD <strong>CANCER</strong>S ARE DIFFERENT<br />
Patients and carers told us they feel blood cancers<br />
differ to other cancers in terms of awareness,<br />
experience, care and available provision.<br />
This could be for a variety of reasons. We know that<br />
services are available, but some blood cancer patients<br />
don’t know about them or see them as relevant.<br />
Another factor might be that many blood cancer<br />
patients are seen in a haematology unit, whereas<br />
other cancer patients will go to oncology.<br />
These differences in experiences, treatment and care<br />
can leave some patients feeling isolated from certain<br />
cancer services and feeling unsure about whether<br />
such services are relevant to their needs.<br />
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6. NEED FOR SIGNPOSTING<br />
Our research has shown that many blood cancer<br />
patients aren’t accessing the support and resources<br />
they need. We asked patients about their needs at each<br />
stage of their cancer experience – from diagnosis to<br />
post-treatment – and how these needs were being met.<br />
Our research has highlighted that more needs to be<br />
done to meet the wide-ranging needs of blood cancer<br />
patients. Something that came up time and time again<br />
was the idea that blood cancer patients needed better<br />
signposting towards organisations that could help<br />
support them.<br />
Our research findings underpin many of our plans<br />
for the year ahead. These include a better alignment<br />
of our new research commitments to areas of greatest<br />
patient need and the launch of a collaborative<br />
signposting service, an awareness campaign and our<br />
new name (Bloodwise) during Blood Cancer Awareness<br />
Month in September.<br />
››<br />
For more information about our patient need<br />
research go to beatingbloodcancers.org.uk/<br />
patient-report<br />
95% 80% 47% 45%<br />
Reported a need for<br />
information about the<br />
specific cancer, prognosis<br />
and treatment types.<br />
Wanted information<br />
on emotional support.<br />
Wanted advice on how<br />
to tell others.<br />
Wanted information<br />
on financial support<br />
and relevant benefit.<br />
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A VOICE OF INFLUENCE FOR<br />
PATIENTS<br />
Through our public affairs work, we aim to engage<br />
and influence decision makers, maximise the impact<br />
of our research and patient services, provide solutions<br />
and work with others.<br />
ENGAGING AND INFLUENCING DECISION MAKERS<br />
It’s been a very busy year for our public affairs team,<br />
who’ve been proactively driving the needs of blood<br />
cancer patients and responding in an agile way to<br />
policy issues as they come up, often in collaboration<br />
with other organisations across the devolved nations.<br />
During the year we’ve had an increased presence<br />
in places where the voice of our patients needs to<br />
be heard. This has included attendance at party<br />
conferences, all party groups, cancer networks and<br />
at umbrella body events. We’ve also engaged with<br />
our researchers and patients to adopt evidence-based<br />
policy positions when it’s mattered.<br />
There’s tangible impact for patients from this<br />
important work, as the following examples show.<br />
MAKING CRUCIAL DRUGS AVAILABLE<br />
Earlier this year the Scottish Medicines Consortium<br />
(SMC) decided that ruxolitinib wouldn’t be made<br />
available to myelofibrosis patients in Scotland.<br />
Myelofibrosis is a blood disorder caused by an<br />
abnormality in cells that make platelets. As the<br />
disease develops, tissue in the bone marrow scars<br />
over and becomes useless. Blood cell production<br />
is taken over by the liver and spleen, resulting in<br />
low blood counts. Symptoms can vary but include<br />
anaemia, persistent infections, headaches and skin<br />
irritation. Ruxolitinib is the only treatment shown to<br />
be able to lessen these debilitating symptoms, reduce<br />
spleen size and improve quality of life for patients.<br />
We provided the views of two clinical experts at the<br />
SMC’s patient and clinical engagement meeting and<br />
after hearing from clinicians and charities, the SMC<br />
reversed their decision.<br />
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BEING A VOICE AT A NATIONAL LEVEL<br />
In January NHS England announced the establishment<br />
of an independent taskforce to develop a five-year<br />
strategy for cancer services. The taskforce has been<br />
asked to deliver the vision set out in the NHS Five<br />
Year Forward View, which calls for action on three<br />
fronts: better prevention; swifter diagnosis; and better<br />
treatment, care and aftercare for all those diagnosed<br />
with cancer. The taskforce sought responses to three<br />
questions:<br />
1. What commitment would you like to see in a new<br />
cancer strategy that would significantly improve<br />
cancer services?<br />
2. What are the examples of good practice in cancer<br />
services that you’d like to see replicated across the<br />
country?<br />
This type of support is particularly important for<br />
blood cancer patients, as for many their cancer<br />
isn’t ‘cured’ by their treatment; instead, often their<br />
treatment means they will ‘live with’ their cancer for<br />
many years.<br />
Solid tumour patients have been positive about<br />
aftercare packages such as the Cancer Recovery<br />
Package. However we know that take up of this<br />
package has been very low from blood cancer patients,<br />
so we told the taskforce that further consideration<br />
should be given to how it could be adapted for<br />
chronic patients managing their cancer as a long term<br />
condition. For some, the terminology ‘recovery’ just<br />
doesn’t resonate.<br />
3. What’s the biggest barrier to improving cancer<br />
services?<br />
Our response was driven by the evidence we’ve<br />
identified through our patient need research, which<br />
made it clear that access to appropriate emotional<br />
support during and after treatment is one of the most<br />
significant areas of unmet need.<br />
We told the taskforce that we know many patients<br />
feel the level of support they get falls away after<br />
their initial treatment. While they continue to<br />
receive regular check-ups with health professionals<br />
to manage their medical needs, the emotional and<br />
psychological element of care is often missing and we<br />
think this needs addressing.<br />
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and national organisations; and what collaboration<br />
means in practice for the NHS, charities, industry and<br />
research with a focus on what the future could look<br />
like.<br />
HELPING CHILDREN BE ‘FREE TO BE’<br />
We marked Childhood Cancer Awareness month in<br />
September with ‘Children Dream Big’ a social media<br />
campaign where we encouraged our supporters to<br />
share their childhood dreams. This proved to be our<br />
most successful social media campaign ever, reaching<br />
120,000 people in just three days.<br />
Alastair Campbell and Cathy Gilman<br />
TALKING POLICY<br />
The development of unique policy events has proved<br />
a very effective way to engage busy, influential<br />
people in focused debate as well as provide excellent<br />
opportunities to build important relationships in a<br />
cost and time effective way for everyone.<br />
During the year we were very fortunate to host two<br />
important policy dinners at the Speaker’s House in<br />
Westminster, thanks to John Bercow and Alastair<br />
Campbell. In May we discussed the progress of TAP,<br />
and shared our experience of the challenges of setting<br />
up trials for rarer cancers and the need to crack some<br />
of the issues around setting up international trials.<br />
The campaign was supported by a reception at<br />
Downing Street, hosted by Samantha Cameron, where<br />
we asked our guests to get involved with our ‘Free<br />
to be’ campaign. At the event we brought urgency to<br />
the need for young blood cancer patients to not just<br />
escape blood cancer; but to be completely free to live<br />
their lives normally: free from side effects: free from<br />
fear; free to live their lives; free to be themselves.<br />
This was accompanied by a new report that explained<br />
the needs of young patients and how our existing<br />
£12.7 million investment in research into childhood<br />
cancers is meeting them. It also identified the need<br />
for a European solution to the delivery of clinical<br />
trials, if we’re to deliver new much less toxic<br />
biological treatments for children.<br />
In March the Chief Executive of NHS England,<br />
Simon Stevens and the National Clinical Director<br />
for Cancer, Sean Duffy joined representatives<br />
from the pharmaceutical industry, Innovate UK,<br />
Google Ventures as well as Cancer Research UK, the<br />
Lymphoma Association, Leukaemia Care and the<br />
African Caribbean Leukaemia Trust to discuss the<br />
opportunity that collaboration brings to accelerate<br />
progress for patients.<br />
Using our patient need research as the starting<br />
point, we discussed how organisations can share<br />
evidence based decision making more effectively in<br />
their work; how agile, innovative approaches and<br />
new technologies deliver in established institutions<br />
Our reception at 10 Downing Street<br />
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STRATEGIC REPORT<br />
550,000<br />
The number of people accessing our<br />
patient information online each year.<br />
330<br />
The number of people blogging and<br />
sharing their experiences in our patient<br />
community.<br />
25<br />
The number of patient information<br />
books we publish.<br />
34<br />
The number of patients and health<br />
professionals we filmed to create new<br />
information videos for patients.<br />
50,000<br />
The number of patient information<br />
booklets we supplied free of charge<br />
to individuals, hospitals and GPs<br />
each year.<br />
10<br />
The number of patient information<br />
factsheets we publish<br />
PATIENT EXPERIENCE<br />
Medical research has been at the core of our work<br />
since we began in 1960, and will remain there. But<br />
over the last five years we’ve also been going through<br />
significant change – centred on how we can improve<br />
the outcomes and experiences of people affected by<br />
blood cancer.<br />
We’ve already begun to stretch our sphere of<br />
influence beyond the research community. We’ve also<br />
responded to our growing understanding of patient<br />
need by developing our patient information and<br />
support offering, enhancing our patient and carer<br />
experience digitally and engaging more robustly with<br />
the clinical community.<br />
Our patient experience team have been supporting<br />
our programme of patient need research, creating<br />
a safe space for focus groups and one to one<br />
conversations with patients to help gain the primary<br />
patient qualitative data.<br />
At the same time they’ve been developing closer<br />
relationships with the clinical community, ensuring<br />
that we have expert voices to help us understand<br />
issues raised by patients.<br />
This has involved setting up a Medical Advisory Panel<br />
and a Nursing Advisory Panel to ensure we have a<br />
forum to seek expert opinion and advice.<br />
Building these relationships with patients and the<br />
clinical community has already resulted in a visible<br />
difference in the level of interaction we have, through<br />
the volume of patient information that we send out;<br />
the hits to our patient web pages; the comments<br />
on Facebook and the number of blogs that patients<br />
contribute to share their experiences.<br />
Until now, our patient experience activities have sat<br />
within the marketing directorate. Our Marketing<br />
Director, Emma Whelan, has done an incredible job<br />
growing and developing a hugely diverse directorate,<br />
while creating a vision for patients.<br />
It’s very much thanks to her work and our planned<br />
responses to our patient need research that we’ve<br />
decided to set up a new, separate patient services<br />
directorate. We’ll be welcoming our first ever Patient<br />
Experience Director in July, Diana Jupp, who has 18<br />
years of experience working with patients at Breast<br />
Cancer Care in July 2015.<br />
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Bloodwise 25<br />
STRATEGIC REPORT<br />
GOAL 2<br />
Achieve a step change<br />
in income<br />
This has been a year where the success in the smaller<br />
gift areas of our fundraising has been sharply<br />
contrasted with real challenges in corporate, trusts<br />
and major gifts.<br />
London|Paris<br />
Our sports events<br />
team delivered another<br />
spectacular year, with<br />
a record number of<br />
participants and record<br />
funds raised at the<br />
Leukaemia & Lymphoma<br />
Research Blenheim Palace<br />
Triathlon. The second<br />
year of our London to<br />
Paris cycling event also<br />
saw substantial growth<br />
and also offers an<br />
important engagement<br />
opportunity with<br />
corporate audiences.<br />
Paws to beat blood cancer<br />
We have great strength in local engagement and<br />
fundraising, very much thanks to the efforts of our<br />
voluntary fundraising Branches and our energetic<br />
regional team. During the year Blackpool, Derbyshire<br />
and Brentwood, Billericay and Hutton Branches<br />
celebrated an incredible 50 years of fundraising; our<br />
Lutterworth and Grimsby Branches celebrated raising<br />
their first £1 million;<br />
and the final Tredegar House Vintage Car<br />
Rally organised by our Gwent Branch raised an<br />
unprecedented £90,000.<br />
We’ve begun to develop some more proactive<br />
approaches to individual giving, introducing both<br />
a Christmas appeal and a longer term approach in<br />
the shape of two very sensitive legacy events in<br />
beautiful locations, which gave the opportunity for<br />
quiet reflection and to meet<br />
others affected by<br />
blood cancer.<br />
Blenheim Palace Triathon<br />
The drop in income came<br />
from our larger gift income<br />
streams, although within<br />
this there continued to be<br />
some successes.<br />
Our Lutterworth Branch<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 26<br />
STRATEGIC REPORT<br />
The opportunities in research to improve the lives<br />
of patients are unprecedented and we know that<br />
we could invest substantially more in high quality<br />
research. There is an urgent need to generate more<br />
income if we are to optimise the opportunity. We<br />
know that this is connected to poor awareness of<br />
blood cancers and the organisations that are here<br />
to help, and we also know that the majority of<br />
our income comes from people affected by blood<br />
cancers. The transactional nature of the name<br />
‘Leukaemia & Lymphoma Research’ doesn’t convey<br />
the exciting movement of people that we are, and<br />
the opportunities that exist to be involved in beating<br />
blood cancer.<br />
Our partnership with Wickes now exceeds £4 million:<br />
FY15 was their biggest year ever, with Wickes<br />
customers and colleagues raising an incredible £1<br />
million in just 12 months. Customers were able to buy<br />
red wheelbarrows and buckets throughout the year,<br />
with a proportion of profits going to their fundraising<br />
total. The August Bank Holiday weekend saw ‘Wickes<br />
Around the World’ take place: with exercise bikes<br />
in every store, colleagues cycled 32,000 miles – the<br />
equivalent of one and a half times around the world!<br />
Our awareness work later in the year will be a vital<br />
foundation to reaching more supporters and we<br />
know that we need to be more strategic and proactive<br />
with communication, engagement and relationship<br />
building. When we get this right, we create friends<br />
for life, but we need to be more systematic. Our new<br />
name, Bloodwise, will give us the opportunity to<br />
engage with new audiences, while nurturing and<br />
supporting the dedicated people who already support<br />
our work.<br />
We’ve restructured our larger gifts team to be better<br />
aligned to the needs of partners and supporters.<br />
Towards the end of the year we recruited an<br />
experienced Head of Major Funding, who is tasked<br />
with optimising the brand opportunity we now have.<br />
Via a project called ‘Knowing our Audiences’, which<br />
is analysing and understanding the motivations of<br />
our diverse supporter groups, we’ll be better placed to<br />
be more targeted with our innovation in fundraising<br />
– and able to respond to the needs of our supporters<br />
and the broader market.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 27<br />
STRATEGIC REPORT<br />
GOAL 3<br />
Leverage resource<br />
through partnership<br />
Our partnership goal ensures that we work with<br />
others to help to optimise all of the resource that’s<br />
invested in beating blood cancers.<br />
We’ve rapidly developed from quite an introspective<br />
research charity into an organisation that uses our<br />
knowledge and resource for the benefit of patients<br />
in every way. Throughout this report there are very<br />
many examples of how by being at the heart of new<br />
partnerships we’re making more progress, more<br />
quickly. From our patient need research to the Trials<br />
Acceleration programme; to open access publishing to<br />
first in human trials – we share knowledge, talent and<br />
investment.<br />
Our first step is to deliver an authentically<br />
collaborative signposting service for patients, which<br />
reflects the 24 key needs we’ve uncovered and clearly<br />
points to the organisations and services that can<br />
help. Sharing the findings of our research with other<br />
charities including Leukaemia Care, the Lymphoma<br />
Association, Anthony Nolan, the Elimination<br />
of Leukaemia Fund, Delete Blood Cancer and<br />
Maggie’s has been a useful starting point to a more<br />
collaborative way to deliver for patients.<br />
Our research around the needs of patients, their<br />
families and health professionals has told us how<br />
important clear signposting services are. This has<br />
helped us start to think about our role in creating a<br />
more clearly defined sector for blood cancer patients.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 28<br />
STRATEGIC REPORT<br />
GOAL 4<br />
Improve reach,<br />
reputation and brand<br />
Our patient need research showed us that to deliver<br />
the greatest impact for patients and to raise more<br />
money we need more awareness of blood cancers,<br />
their symptoms and our organisation. We need<br />
more people to know who we are, know what we<br />
do, engage with us and tell others about us. Among<br />
all the important insights from this research three<br />
big challenges stood out – so we needed three big<br />
solutions.<br />
OUR CHALLENGES<br />
THE WORLD SIMPLY DOESN’T UNDERSTAND<br />
BLOOD <strong>CANCER</strong>S<br />
People don’t realise blood cancers are the third<br />
biggest cancer killer, or that anyone can get blood<br />
cancer whatever age, stage or lifestyle. What’s more,<br />
patients feel that doctors and nurses don’t know<br />
enough about the different variants and symptoms,<br />
and that means cases can go undiagnosed and<br />
sometimes patients die soon after diagnosis.<br />
PEOPLE STRUGGLE TO FIND THE<br />
INFORMATION AND SUPPORT THEY NEED<br />
There’s no clear signpost or place to go when you’re<br />
diagnosed and patients often don’t know where to<br />
turn. Sadly, our name is stopping us from helping.<br />
It doesn’t embrace all our patients. It talks about<br />
leukaemia and lymphoma but leaves out dozens of<br />
other blood cancers including myeloma, the biggest<br />
blood cancer killer.<br />
BLOOD <strong>CANCER</strong> PATIENTS DON’T FEEL PART<br />
OF A COMMUNITY OR A CAUSE<br />
Because there are so many types of blood cancer, with<br />
different names and symptoms, our patients don’t<br />
have a sense of shared identity. Some don’t even see<br />
themselves as cancer patients. And while there are<br />
lots of great organisations out there, most focus on<br />
individual diseases. It all means that patients can<br />
often feel isolated and alone.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 29<br />
STRATEGIC REPORT<br />
OUR SOLUTIONS<br />
SET UP A BLOOD <strong>CANCER</strong><br />
SIGNPOSTING SERVICE<br />
We’re building a hub for patients and carers – a<br />
place to go with the latest information and insight,<br />
partnering with other organisations to bring a strong<br />
sense of community and mutual support to people<br />
with all types of blood cancer. We hope that this will<br />
be the foundation of a more clearly defined sector<br />
for patients, their families and health professionals<br />
and that over time we’ll reduce duplication and bring<br />
clarity to the role each charity plays in our sector.<br />
our research and thought leadership to our patient<br />
support services and fundraising. It’s true to our<br />
past, right for our present and exciting for our future.<br />
It’s very different and quite surprising but it’s also<br />
simple, short and easy to remember – which is so<br />
important when you’ve just been diagnosed with<br />
blood cancer and your world has turned upside down.<br />
LAUNCH A MAJOR BLOOD <strong>CANCER</strong><br />
AWARENESS CAMPAIGN<br />
We’ve set ourselves the challenge of creating<br />
a campaign to increase both awareness of our<br />
charity and public understanding of blood cancer.<br />
In consultation with our medical advisory panel<br />
and patients, we’ll deliver a targeted, cost effective<br />
campaign that begins to address the problem of<br />
people wishing they had known about blood cancers –<br />
and where to get help after a diagnosis – sooner.<br />
CHANGE OUR NAME<br />
After very careful consideration of all of the options,<br />
we agreed it was time to find a new name for our<br />
charity. A name that shows we’re here for all blood<br />
cancer patients, for their families and friends. A<br />
name that grabs the attention and signals just how<br />
important blood cancer and blood health are for<br />
everyone.<br />
After a rigorous and robust review process, involving<br />
consultation with different stakeholder groups, we<br />
chose ‘Bloodwise’.<br />
We chose Bloodwise because it embraces all blood<br />
cancer patients. It unites everything we do: from<br />
63,000<br />
The number of people who ‘Like’ us on Facebook.<br />
19,000<br />
The number of people who follow us on Twitter.<br />
1 million<br />
The number of visitors to our website last year.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 30<br />
STRATEGIC REPORT<br />
GOAL 5<br />
Strengthening<br />
the organisation<br />
We’re an ambitious organisation that’s agile and<br />
responsive to meeting the needs of our patients<br />
in every way. This means that our charity can be<br />
an exciting place to work and sometimes it can be<br />
challenging, especially if things aren’t communicated<br />
well or processes aren’t properly defined.<br />
During the year we’ve had a more proactive approach<br />
to staff communication. Priorities have been more<br />
clearly defined and through our performance<br />
development reviews (PDRs) each employee has clear<br />
line of sight to how their objectives are aligned.<br />
Our learning and development self awareness<br />
programme was extended to all staff this year, and<br />
through consultation we’ve identified a core skills<br />
training programme. This has begun with sessions<br />
on influencing and communicating with the<br />
leadership team.<br />
We were very pleased to finally improve the appearance<br />
of the reception area in our head office building,<br />
which now more appropriately reflects the kind of<br />
organisation that we are.<br />
This has been the first full year for our Chairman.<br />
We’ve moved from three to six Board meetings a<br />
year, which has enabled the Trustees to have better<br />
continuity and engagement.<br />
The restructure of our committees, moving from<br />
Finance & General Purpose to Audit & Risk and the<br />
introduction of an Appointments and Remuneration<br />
Committee has given better clarity of responsibility<br />
and shared ownership by the Board. In the coming<br />
year we’ll be looking at Board development and<br />
performance review of Trustees.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 31<br />
STRATEGIC REPORT<br />
THE YEAR AHEAD:<br />
OUR KEY PRIORITIES<br />
The research we’ve done into patient need and<br />
understanding our fundraising audiences provides<br />
the evidence base for our plans for the year ahead.<br />
In the coming year, we will:<br />
››<br />
ensure that our research into patient need will be at<br />
the heart of the choices that we make<br />
››<br />
ensure that our new research commitments are<br />
aligned to the five biggest killers and pre-malignant<br />
conditions where possible<br />
››<br />
begin to get a better understanding of why so many<br />
deaths occur just three months after diagnosis for<br />
acute myeloid leukaemia and diffuse large B-cell<br />
lymphoma patients<br />
››<br />
review our research committees, ensuring that they<br />
continue to represent the multi-disciplinary nature of<br />
our research, and optimise synergies between our new<br />
commitments, ensuring a collaborative approach that<br />
will deliver more for patients more quickly.<br />
››<br />
embed the new patient services directorate and review<br />
where we can have most impact for patients<br />
››<br />
launch a signposting service, an awareness campaign<br />
and our new name – Bloodwise – in blood cancer<br />
awareness month in September.<br />
› › begin to pilot new ways to increase our income and<br />
improve fundraising efficiency<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 32<br />
STRATEGIC REPORT<br />
FINANCIAL REVIEW<br />
Your support<br />
162 x 235 45mm straight flap.pdf 1 21/10/2014 09:26<br />
INCOME<br />
Following an exceptional year for generating income<br />
in FY14, when we achieved an increase of 19%<br />
in voluntary income, we found FY15 much more<br />
challenging in some areas of fundraising. Our total<br />
income of £20.6 million was £1.1 million (-5%) below<br />
FY14 (£21.7 million) and both voluntary and legacy<br />
income were down on the previous year.<br />
Printed using FSC certified paper, using fully sustainable, vegetable oil-based inks,<br />
power from 100% renewable resources and waterless printing technology. Please recycle.<br />
If undelivered please return to: Leukaemia & Lymphoma Research, 39-40 Eagle Street,<br />
London WC1R 4TH. Registered charity 216032 (England & Wales) SC037529 (Scotland)<br />
LIFE IS MADE<br />
OF LITTLE<br />
MOMENTS<br />
We continue to demonstrate strength in our<br />
fundraising engagement with the UK public: as a<br />
result growth in our small gift teams including our<br />
regional fundraising, sports events and individual<br />
giving was 11%.<br />
Unfortunately this was offset by a significant<br />
reduction in income from the large gifts teams,<br />
including corporate, trusts and high value<br />
partnerships of 43%. During the year we had hoped<br />
to scope opportunities for statutory funding; this<br />
proved more challenging than we had anticipated<br />
and will require further exploration.<br />
Our cost of generating funds increased by £348,000<br />
in FY15. During the year we made planned new<br />
investments in generating funds as we began to<br />
implement a new fundraising strategy. This included<br />
the diversification of our sports events portfolio with<br />
new events including the Velothon in Wales; the World<br />
Triathlon Series and some additional Ironman events.<br />
We also began a restructure of our Major Funding<br />
teams and tested some Individual Giving initiatives.<br />
In the short term this has reduced our fundraising<br />
efficiency, but this is in expectation of future growth<br />
in income. Because of the substantial increase in<br />
charitable expenditure, the proportion of total<br />
expenditure represented by the cost of generating<br />
funds fell from 22.1% to 19.9% (see page 4).<br />
Our 2014 Winter Appeal<br />
Take this moment.<br />
Make it count.<br />
INDIVIDUAL GIVING<br />
Where for many charities individual giving is the<br />
bedrock of fundraised income, this is potentially an<br />
unrealised opportunity for our charity. We haven’t<br />
adopted some of the traditional approaches to<br />
individual giving such as direct mail, face-to-face<br />
and telephone fundraising.<br />
WAPOST/111401<br />
{Additional Address 2}<br />
{City}<br />
{Postcode}<br />
{Street Address}<br />
{Additional Address 1}<br />
{Individual Prefix} {First Name} {Last Name}<br />
Philosophically we don’t think it’s a good idea to<br />
interrupt the lives of cancer patients and their<br />
families, but at the same time we need to give people<br />
better opportunities to support us on a regular basis.<br />
During the year we piloted a Christmas appeal and have<br />
plans for a further late Spring appeal. There’s no doubt<br />
that we’ll need to be innovative and engaging if we’re<br />
to accelerate growth in this area. In FY15 we raised £0.5<br />
million from individual giving (FY14: £0.3 million).<br />
xxxxxxx<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 33<br />
STRATEGIC REPORT<br />
REGIONAL GIVING<br />
Our regional fundraising continued to go from<br />
strength to strength. In total the team raised £4.6<br />
million, an increase of £0.4 million (9%) on FY14<br />
(£4.2 million). Although our awareness campaign in<br />
September is primarily to raise awareness of blood<br />
cancers and their symptoms, we believe this will also<br />
have a positive impact on regional giving in FY16.<br />
SPORTS AND CHALLENGES<br />
Our sports and challenges teams raised £5.2 million,<br />
representing a 11% increase on the previous year<br />
(FY14: £4.7 million). Thanks to the support of Frankie<br />
& Benny’s, part of The Restaurant Group, we saw<br />
significant growth in income from our London to<br />
Paris cycling event and our title sponsorship of the<br />
Blenheim Palace Triathlon generated a £0.2 million<br />
increase in income.<br />
CORPORATE AND HIGH VALUE PARTNERSHIPS<br />
We’ve been working with Wickes to beat blood cancers<br />
since 2006 and since then they’ve raised an incredible<br />
£4 million, with another strong performance in<br />
FY15. We’re fortunate to have a number of smaller<br />
partnerships but our priority will be to secure at least<br />
one new partnership before the end of the year.<br />
Income from trusts was slightly down this year – but<br />
we’re increasing resource in the team, to help us<br />
manage our relationship with trusts more effectively<br />
and have time to focus on larger applications for<br />
some of our most innovative patient activities. We<br />
were once again indebted to Fighting Leukaemia<br />
and Children with Cancer for their support of our<br />
research into childhood leukaemia.<br />
The reduction in large gifts, which are more cost<br />
effective to generate, led to a deterioration in our<br />
fundraising cost income ratio, something we’ll be<br />
working hard to rectify in FY16. We’ve already taken<br />
steps to restructure the large gifts team. This was<br />
completed before the start of FY16 and a new Head of<br />
Major Funding has already been appointed.<br />
LEGACIES<br />
The underlying trend for our legacy income is stable,<br />
with a healthy pipeline. However our annual legacy<br />
income has a track record of being underpinned by<br />
one large legacy of generally over £1 million. This<br />
didn’t happen in FY15; consequently legacy income<br />
was £6.2 million (FY14: £6.8 million).<br />
INVESTMENT INCOME<br />
Investment income was similar to the previous year,<br />
at £1.4 million (FY14: £1.5 million). However we assess<br />
investments on a total returns basis, income and<br />
gains, and on this measure investments generated<br />
£4.8 million, more than double the returns for FY14<br />
(£2.3 million).<br />
When all income and gains are taken into account we<br />
ended the year at £24.1 million, an increase of £1.6<br />
million (+7%) on FY14 (£22.5 million).<br />
MONEY TO OUR MISSION<br />
The rather disappointing fundraised income results<br />
are to some degree offset by the fact that through<br />
partnership we’ve leveraged resource to our mission<br />
in other ways that isn’t reflected on the statement of<br />
financial activity.<br />
This can be as a result of our research investment<br />
leveraging funding from elsewhere or by catalysing<br />
further downstream activities.<br />
For example a £5 million investment by Innovate UK<br />
has led to a cell-based therapy trial for acute myeloid<br />
leukaemia. There’s also been £2 million of support<br />
from a Wellcome Trust biotech spin-out company<br />
called 14MG to perform next-generation sequencing<br />
of samples associated with the Haematological<br />
Malignancy Research Network, with an associated<br />
fellowship worth up to £0.3 million. Actual income<br />
from research was similar to FY14, at slightly more<br />
than £0.2 million.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 34<br />
FINANCIAL REVIEW<br />
Beating blood cancer<br />
Leeds<br />
1 commitment<br />
CHARITABLE EXPENDITURE<br />
It’s been an exceptional year for progressing our<br />
mission, and in spite of challenging income results<br />
we’ve been able to invest £32.3 million in gross new<br />
grant commitments, one of the biggest commitments<br />
we’ve ever made (FY14: £23.2 million). This represents<br />
a 39% increase on the previous year – the cyclical<br />
nature of programme renewals, as well as the £6.3<br />
million in TAP renewal have been significant drivers<br />
for this. Over the last 5 years, new commitments have<br />
varied between £21 million and £32 million because<br />
of this cycle, but in total add up to more than £130<br />
million over that period.<br />
From the gross amount of £32.3 million we deduct<br />
deferred commitments on programmes that are<br />
contingent on successful completion of the early<br />
stages of research. This is usually equivalent to two<br />
years’ worth of a five year commitment and was £7.5<br />
million in FY15 (FY14: £3.9 million). We also deduct<br />
unspent funds that remain on completion of grants,<br />
which was an unusually high figure this year at £2.1<br />
million (FY14: £0.7 million).<br />
The majority of our research investment is made<br />
through UK institutions, primarily universities, and<br />
our research investments and TAP centres are located<br />
across the four nations of the UK.<br />
1 commitment<br />
Leicester<br />
2 commitments<br />
Birmingham<br />
6 commitments<br />
Oxford<br />
5 commitments<br />
Cardiff<br />
1 commitment<br />
Southampton<br />
8 commitments<br />
Cambridge<br />
4 commitments<br />
London<br />
18 commitments<br />
Sussex<br />
1 commitment<br />
See page 44 for our grant making policy.<br />
GRANT COMMITMENTS IN<br />
FY15 BY LOCATION<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 35<br />
STRATEGIC REPORT<br />
RESEARCH AND CAREER DEVELOPMENT<br />
Of the new commitments made this year, nearly £15<br />
million was invested in specialist programmes. These<br />
are awarded for up to five years to support a team of<br />
researchers to tackle more extensive, long-term goals.<br />
They go through robust review both by external peer<br />
review and a site visit. These specialist programmes<br />
have the most potential to deliver impact for blood<br />
cancer patients.<br />
We invested over £4 million in project grants, which<br />
are awarded for up to three years usually for the<br />
support of one technician, research assistant or<br />
post-doctoral scientist to carry out a clearly defined<br />
project. This is where innovative new ideas begin to<br />
become a reality and begin to build the foundations<br />
for future specialist programmes.<br />
Our career development awards ensure that we’re<br />
nurturing talent for the future. That way, we know<br />
the UK will continue to produce world-leading<br />
researchers. Our investment in career development<br />
awards this year was nearly £4 million.<br />
CLINICAL TRIALS<br />
Clinical trials test new drugs or combinations of drugs<br />
in patients. Trials are really important, because they’re<br />
the only way we can develop new treatments – and<br />
improve existing ones – for patients in the future. Trials<br />
can run for several years, over which time scientists are<br />
able to see whether the new treatments are better than<br />
existing ones.<br />
They’re also important for developing better ways<br />
of diagnosing different blood cancers; developing<br />
treatments that prevent and relieve the symptoms of<br />
blood cancer; managing side effects associated with<br />
different treatments; testing whether new drugs are<br />
safe; and establishing the safest dosage for each patient.<br />
There are three main types of clinical trial:<br />
››<br />
phase 1 trials test the safety of new drugs or<br />
treatments and establish the appropriate dosage<br />
››<br />
phase 2 trials confirm the optimum dosage of new<br />
drugs and identify any side effects<br />
››<br />
phase 3 trials compare new drugs or treatments with<br />
the best currently available treatments.<br />
We tend to invest in early phase clinical trials, as these<br />
give the promising ideas for new treatments the best<br />
chance of ultimately benefiting patients. This year we<br />
invested in our first ‘first in human’ trial (sometimes<br />
called a Phase 0 trial): with this kind of trial we’re<br />
aiming to find out if a drug behaves in a human being<br />
in the way researchers expect it to, following their<br />
laboratory studies.<br />
From these trials, which take place with very small<br />
numbers of patients, we can find out if the drug reaches<br />
the cancer target; if it behaves as expected in the body;<br />
and how the cancer cells respond to the drug.<br />
Aligned to our clinical trials is our investment in<br />
trial-associated research projects. These are laboratory<br />
based research projects which are integral to clinical<br />
trials and essential for the analysis of primary and/or<br />
secondary end points and clinical outcome.<br />
This year, largely thanks to the TAP renewal, we<br />
invested £9.5 million in clinical trials and related<br />
projects: our biggest investment ever.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 36<br />
STRATEGIC REPORT<br />
TYPE OF RESEARCH INVESTMENT IN<br />
FY15: COMPARISON WITH FY14<br />
AMOUNT FY15<br />
AMOUNT FY14<br />
32%<br />
(£10.2m)<br />
44%<br />
(£14.3m)<br />
16%<br />
(£3.6m)<br />
13%<br />
(£3.1m)<br />
47%<br />
(£11m)<br />
11%<br />
(£3.4m)<br />
13%<br />
(£4.4m)<br />
24%<br />
(£5.5m)<br />
Programmes<br />
Projects<br />
Career development<br />
TAP, clinical trails and<br />
related research<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 37<br />
STRATEGIC REPORT<br />
RESEARCH INVESTMENT IN FY15:<br />
BY BLOOD <strong>CANCER</strong> TYPE<br />
Our understanding of the biology of blood cancers<br />
means that we understand the control mechanisms<br />
that must be disrupted for cancer to take hold. This<br />
means that what we learn for one blood cancer can be<br />
relevant to many others – and many other cancers too.<br />
So in some respects it’s hard to divide our research<br />
portfolio by blood cancer type. However we know<br />
that many people like to check for investment in<br />
their particular blood cancer, so this chart gives a<br />
rough guide to the primary focus areas of our new<br />
commitments made this year.<br />
COMMITMENTS FY15<br />
COMMITMENTS FY14<br />
4%4%<br />
Leukaemia<br />
12%<br />
27%<br />
12%<br />
Multi (including TAP)<br />
Lymphoma<br />
11%<br />
8% 5% 51%<br />
20%<br />
MDS & MPN<br />
Children’s blood cancers<br />
37%<br />
9%<br />
Myeloma<br />
PATIENT EXPERIENCE<br />
We’ve increased our expenditure on patient activities<br />
this year by 84% to £1.5 million (FY14: £0.8 million).<br />
This has included the establishment of a patient<br />
services team to inform and engage patients; the<br />
revision and renewal of a number of our patient<br />
information booklets; and our patient need research.<br />
As we establish our patient services directorate, do<br />
more to improve the lives of patients and respond to<br />
our patient need research findings over the coming<br />
years this investment will continue to grow.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 38<br />
STRATEGIC REPORT<br />
RESERVES POLICY AND<br />
REVIEW OF STRATEGIC RISK<br />
MODEL<br />
As we reported last year, the Trustees have been<br />
taking steps over the last few years to release funds<br />
from the balance sheet to invest in patient activities.<br />
This has been driven by a desire to maximise patient<br />
impact but also to alleviate the perception of a lack of<br />
fundraising urgency because of large investment and<br />
cash balances. We’ve already amended the terms of our<br />
five-year programme grants so that the final two years<br />
are contingent on the success of the first three; this has<br />
enabled us to invest £15.4 million more in research over<br />
the last three years.<br />
We’ve now developed a strategic risk model that enables<br />
us to consider different scenarios over future years for<br />
income, operating expenditure and grant commitments.<br />
In conjunction with our revised reserves policy, this<br />
enables us to optimise the balance between short-term<br />
spending and longer-term sustainability.<br />
The Trustees have carefully considered the current<br />
sector thinking around reserves, including guidance<br />
from the Charity Commission; research from ACEVO,<br />
the Charity Finance Group and the Institute of<br />
Fundraising; and the practices of other major medical<br />
research charities. As a consequence we’re able to<br />
take a more progressive approach to the management<br />
of our assets, with a greater emphasis on cash flow<br />
management, rather than the traditional approach of<br />
keeping assets to cover every liability.<br />
We define our reserves as cash and investments, and<br />
our new reserves policy requires that we maintain cash<br />
and investments at a level:<br />
››<br />
not more than 24 months grant payments plus six<br />
months operating expenses; and<br />
››<br />
not less than 12 months grant payments plus six<br />
months operating expenses.<br />
In addition, our new policy requires total assets<br />
(excluding tangible fixed assets) to exceed current<br />
liabilities at all times.<br />
A traditional definition of reserves, based on net assets,<br />
compares total assets to total liabilities, without<br />
regard for the timeframe in which those liabilities will<br />
become payable.<br />
Our grant commitments are long-term, recognised as<br />
liabilities in one year but only payable up to three years<br />
later. Our priority is to have enough assets now to pay<br />
the liabilities that are due now, rather than enough<br />
assets to pay out all of our liabilities. Liquidity therefore<br />
is a more important measure than net assets. For this<br />
reason cash and investments are a more appropriate<br />
definition of reserves than net assets.<br />
The operating expenses part of the reserves policy is<br />
to allow the organisation to respond in a considered<br />
way to an adverse change in circumstances. We believe<br />
that provision for six months operating costs will allow<br />
sufficient time to enable emerging circumstances<br />
to be assessed and appropriate plans developed and<br />
implemented, without creating a ‘crisis response’<br />
situation.<br />
With the ‘3+2’ approach to grant commitments, the<br />
maximum length of a grant liability recognised on<br />
the balance sheet is three years. If the upper limit on<br />
reserves is set at 36 months we’d effectively be fully<br />
providing for future grant commitments, similar to<br />
the current policy. The upper limit of 24 months is<br />
considered an appropriate compromise, maintaining<br />
pressure to spend funds raised in pursuit of our vision,<br />
but allowing us to create a more predictable research<br />
commitment pipeline by holding (a bit) more than the<br />
minimum in reserve.<br />
The reserves policy, operated in conjunction with<br />
the strategic risk model, allows us to optimise nearterm<br />
investment in grants whilst ensuring sufficient<br />
financial rigour to respond to potential downside<br />
scenarios, in particular to demonstrate that we’re not<br />
trading insolvently.<br />
Based on the current grants position, this policy<br />
requires us to hold between £27.2 million and £55.1<br />
million in liquid and readily realisable assets. At 31<br />
March 2015, our liquidity of £68.9 million was sufficient<br />
to cover the defined operating costs, plus 32 months<br />
of total outstanding grant liabilities and is therefore<br />
above the limits established by the Trustees. We expect<br />
reserves to fall within the limits in the next financial<br />
year, as we continue to invest for patient impact.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 39<br />
STRATEGIC REPORT<br />
INVESTMENT POLICY<br />
AND PERFORMANCE<br />
Our investments were valued at £65.7 million at 31<br />
March 2015 (£74.5 million at 31 March 2014) and consist<br />
of a long term main portfolio and a liquidity reserve<br />
portfolio. At the year end the value of the main portfolio<br />
was £33.2 million and delivered a total return in the<br />
year of 9.6% against an objective of 3.0%. In light of the<br />
new reserves policy during the year the Trustees chose<br />
to hold higher cash balances in the liquidity reserve,<br />
which at the year-end was £32.5 million. The liquidity<br />
reserve portfolio delivered a return of 0.8% against a<br />
target of 0.5%.<br />
These investments, together with cash held in bank<br />
current accounts and fundraised income, provide<br />
assurance that we can meet our future grant<br />
commitments when they fall due.<br />
Our investment policy doesn’t allow direct investment<br />
in tobacco companies.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 40<br />
STRATEGIC REPORT<br />
PRINCIPAL RISKS AND<br />
UNCERTAINTIES<br />
The Trustees are responsible for ensuring effective risk<br />
management, and that internal controls are in place to<br />
appropriately manage the risk exposure of our charity.<br />
Risks are given ratings from low to high according to<br />
the likelihood of their occurrence and their impact<br />
should they occur. The Board considers all risks on the<br />
register but focus on those that are considered to have a<br />
high likelihood of occurrence and a high level of impact.<br />
The risk register is dynamic and shows movement in<br />
risk ratings between periods, as well as a traffic light<br />
system to demonstrate confidence in the control. It is<br />
reviewed at the Audit & Risk Committee meetings,<br />
where adjustments are made as risks are mitigated and<br />
new ones emerge.<br />
The wider Board of Trustees review the risk register<br />
annually and have considered: the major risks to<br />
Bloodwise; the potential impact and probability<br />
associated with each risk; the existing internal controls<br />
and accountability for them; and the mitigating actions<br />
needed to reduce each risk to a level that the Trustees<br />
consider to be acceptable.<br />
The table shows risks that were rated high in probability<br />
of occurrence and impact as at February 2015.<br />
Risk<br />
Mitigation<br />
1. Achieving cut through to raise income and<br />
awareness in a crowded and competitive market<br />
place<br />
››<br />
New income generation strategy<br />
››<br />
Care of loyal supporters<br />
››<br />
Innovation of new products<br />
››<br />
Awareness campaign<br />
››<br />
Name with broader appeal<br />
2. Inability to increase large gift income ››<br />
Team restructure and new appointments made<br />
3. Focus and capacity to deliver significant projects<br />
awareness campaign, signposting service, name<br />
change by September<br />
››<br />
Organisational prioritisation<br />
››<br />
Adequate resourcing<br />
››<br />
Progress review<br />
4. Changes in leadership team ››<br />
Succession planning remit of Remuneration &<br />
Appointment Committee<br />
››<br />
Defined recruitment processes<br />
››<br />
Clarity of plans should interim cover be required<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 41<br />
STRATEGIC REPORT<br />
In February the committee specifically discussed an<br />
additional risk assessment in relation to the risks<br />
associated with the proposed change of name to<br />
Bloodwise.<br />
As the decision to change the name to Bloodwise was<br />
to some degree based on feedback from patients and<br />
health professionals in our patient research work and<br />
a patient stakeholder group was involved in the review<br />
process, it was not felt that there were any high risks<br />
to the delivery of our charitable activities in and of<br />
themselves from the name change.<br />
The greatest risks were perceived as emanating from<br />
the lack of recognition of Bloodwise from existing<br />
supporters and subsequent potential for loss of income<br />
and reduction in patient activity investments as a<br />
consequence.<br />
The major financial risks are each subject to ongoing<br />
monitoring and management and the development of<br />
a strategic risk model enables a more sophisticated<br />
risk control around the impact of variations in income,<br />
investment values and research grant commitments.<br />
Our investments are regularly reviewed by our<br />
Investment Committee.<br />
MAJOR NAME CHANGE RISK AND MITIGATION<br />
Risk<br />
Mitigation<br />
1. Loss of income from existing supporters ››<br />
Supporters involved in naming review process<br />
››<br />
Communication plan for new name prioritises existing<br />
supporters<br />
››<br />
Separate face to face communication and engagement plan<br />
for voluntary Branches<br />
››<br />
Blood cancer awareness campaign<br />
››<br />
6 months lead in to name change<br />
2. Failure to reach new supporters ››<br />
Name applicable to all blood cancer patients<br />
››<br />
Blood Cancer Awareness campaign<br />
››<br />
Broader corporate opportunity & restructured team to<br />
optimise opportunity<br />
››<br />
Individual giving opportunity enhanced by awareness<br />
campaign in the longer term<br />
3. Legacies incorrectly attributed ››<br />
Retain Leukaemia & Lymphoma Research as a dormant<br />
company indefinitely<br />
››<br />
Registration numbers remain the same<br />
››<br />
Legacy notification service advised<br />
››<br />
Continue to roll-out legacy events and communications<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 42<br />
STRATEGIC REPORT<br />
SUBSIDIARIES AND<br />
RELATED PARTIES<br />
Leukaemia & Lymphoma Research Trading Ltd is a<br />
wholly owned subsidiary of Bloodwise (formerly known<br />
as Leukaemia & Lymphoma Research). The principal<br />
activity of this trading company is a retail catalogue.<br />
The company has had a successful year and taxable<br />
profit of £0.4 million (FY14: £0.3 million) was donated<br />
under gift aid to Bloodwise, details of which are in note<br />
7 to the accounts. The accounts presented from page 50<br />
are consolidated accounts.<br />
SALARIES<br />
The Trustees have paid due attention to the<br />
requirements of the Charity Commission and the<br />
recommendations of the NCVO with regard to the<br />
disclosure of salaries.<br />
We’ve conducted a thorough review of pay policy over<br />
the last two years, which we continue to monitor and<br />
evaluate. To update our written pay policy we have<br />
benchmarked salaries; agreed the positioning of<br />
salaries relative to the data; introduced a structure<br />
of six salary bands (grades) and all employees were<br />
assimilated to one of three levels of pay at every grade.<br />
All staff are appointed within this structure with the<br />
exception of the Chief Executive. The Chief Executive<br />
salary was determined by the (then) Finance & General<br />
Purpose Committee by speaking to agencies on CEO<br />
pay in the sector and taking advice on executive pay<br />
ratios to senior management. Performance was also<br />
considered.<br />
PENSIONS<br />
We contribute a defined amount to individual<br />
employees’ personal pension schemes, which are<br />
currently provided by AEGON. Auto-enrolment was<br />
introduced in July 2014 and the majority of employees<br />
have joined the scheme. The charity has previously<br />
been a member of a multi-employer pension scheme,<br />
the Federated Flexiplan No.1 Pension. Towards the<br />
end of the year we were given the opportunity to exit<br />
the scheme, concluding all obligations and liabilities<br />
at a saving of nearly £0.1 million. Details of pension<br />
contributions can be found on page 57.<br />
GOING CONCERN<br />
Our current financial position has been outlined in the<br />
review above. The Trustees believe that Bloodwise ends<br />
the year in a financially robust position. Our strategic<br />
risk model assesses projected income and expenditure<br />
for the next five years and we consider that the level of<br />
our reserves equips us to withstand any substantial fall<br />
in income.<br />
We have a reasonable expectation that we have adequate<br />
resources and control mechanisms to continue in<br />
operational existence for the foreseeable future.<br />
Therefore we continue to adopt the going concern<br />
basis of accounting in preparing the annual financial<br />
statements.<br />
The Remuneration & Appointments Committee reviews<br />
sector data on executive pay to monitor appropriate<br />
alignment of executive pay. As in previous years, an<br />
analysis of senior executive salaries is presented on<br />
page 57.<br />
We’ve recently introduced a pay progression element<br />
to our policy that considers achievement of objectives,<br />
as well as the behaviours of each employee in<br />
demonstrating our belief and principles. This will allow<br />
us to assess performance in relation to pay.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 43<br />
HOW WE HOW WORK<br />
WE Our charity<br />
LEGAL STRUCTURE AND<br />
GOVERNANCE<br />
Bloodwise is a company limited by guarantee and<br />
incorporated in England on 17 October 1962. Our<br />
articles of association were last amended on 12 July<br />
2014.<br />
Formerly Leukaemia & Lymphoma Research,<br />
Bloodwise is a registered charity in England and<br />
Wales (charity number 216032) and in Scotland<br />
(charity number SC037529). The change of<br />
registration at Companies House was completed<br />
on 2 April 2015, Leukaemia & Lymphoma Research<br />
remains as an operating name with the Charity<br />
Commission and OSCR (the Scottish charity<br />
regulator) until September 2015.<br />
The Trustees are responsible for the governance<br />
and strategy of the charity. There are 11 Trustees<br />
who together bring a diversity of gender, skills and<br />
experience to enable the Board to operate effectively.<br />
Trustees are appointed for a renewable term of three<br />
years and are the directors of the company for the<br />
purposes of the Companies Act 2006.<br />
John Purser left the Board in July 2014 and Mike<br />
Williams will be retiring from the Board in July 2015,<br />
the Trustees are very grateful for their contribution<br />
and commitment to Bloodwise.<br />
The Trustees meet six times a year and delegate dayto-day<br />
responsibility for the running of the charity<br />
to the executive team. The Trustees also delegate<br />
specific responsibilities to various sub-committees.<br />
The operations of the organisation are covered by<br />
the Audit & Risk, Investment and Remuneration<br />
& Appointments committees. The Investment<br />
Committee benefits greatly from the expertise of<br />
Andrew Hutton, an independent advisor.<br />
During the year we concluded the business of<br />
the Patient Impact sub-Committee as it had been<br />
effective in bringing Trustee focus and responsibility<br />
to optimising patient impact, which now sits with the<br />
main board.<br />
The Board has increased input into our patient<br />
benefit strategy; more involvement in allocating<br />
resource to a broader range of solutions and greater<br />
scrutiny of performance and delivery.<br />
Susan Eastwood and her father<br />
RECRUITMENT,<br />
INDUCTION AND<br />
TRAINING OF TRUSTEES<br />
The Remuneration & Appointments Committee<br />
is responsible for recruiting Trustees, aiming to<br />
ensure a broad mix of skills and backgrounds. The<br />
committee meets regularly to review the selection of<br />
Trustees and succession planning for both the Board<br />
and the wider organisation.<br />
We’ve used a variety of recruitment methods to<br />
recruit Trustees, most recently through executive<br />
search and selection. On appointment new Trustees<br />
spend induction time with the Executive team and<br />
we aim to hold at least one of our Trustee meetings<br />
a year at a site where they can also experience our<br />
research or other patient activities.<br />
Trustees are also encouraged to attend our annual<br />
Impact Day to engage with fundraisers, researchers,<br />
clinicians, patients, volunteers and employees. We<br />
hold an annual development day, which this year<br />
was focused on shaping a strategic response to the<br />
findings of our patient need programme of research.<br />
Having recently conducted a thorough review,<br />
we continue to monitor the effectiveness of our<br />
governance. In the coming year we’ll reorganise our<br />
research committees to ensure that they continue to<br />
reflect the current research environment.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 44<br />
HOW WE WORK<br />
GOVERNANCE OF OUR<br />
RESEARCH AND GRANT<br />
GIVING POLICY<br />
Every year we receive more than 200 applications for<br />
funding from researchers at universities and hospitals<br />
across the UK. We support the most original and<br />
innovative research, which will truly benefit patients<br />
affected by leukaemia, lymphoma, myeloma and related<br />
blood disorders.<br />
Our selection process involves hundreds of experts in<br />
blood cancer research around the world who give their<br />
time freely to evaluate the applications. Their informed<br />
assessments are considered by our three expert<br />
committees, who make recommendations to our Board<br />
of Trustees about which applications to fund. This<br />
peer review process is used by all reputable funding<br />
agencies worldwide and ensures that we support only<br />
the best blood cancer research. We’re a member of<br />
the Association of Medical Research Charities, which<br />
requires all members to use rigorous peer review such<br />
as this to select the best research to fund.<br />
Our three committees consider different types of<br />
application.<br />
RESEARCH COMMITTEE<br />
Our Research Committee considers applications for<br />
research grants and specialist programmes and advises<br />
on research strategy. This committee also considers the<br />
recommendations of awards made by the Training and<br />
Career Development sub-Committee. The committee is<br />
chaired by Professor Paul Farrell and has ten members<br />
with expertise in research disciplines relevant to<br />
Bloodwise. Each member serves on a voluntary basis<br />
for three years.<br />
TRAINING AND DEVELOPMENT SUB-<br />
COMMITTEE<br />
Our Training and Career Development sub-Committee<br />
considers applications for all of our career development<br />
awards. The committee is chaired by Dr Adele Fielding<br />
and has four members with experience in graduate and<br />
post-graduate training and mentoring.<br />
CLINICAL TRIALS COMMITTEE<br />
Our Clinical Trials Committee considers applications<br />
for clinical trials and trial associated research projects.<br />
The committee is chaired by Professor Irene Roberts and<br />
has twelve members with expertise in trials and drug<br />
discovery. Each member serves on a voluntary basis for<br />
four years.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 45<br />
HOW WE WORK<br />
OUR APPLICATION PROCESS<br />
STEP 1: THE APPLICATION<br />
Applicants outline the objectives of their research in<br />
detail, highlighting how they plan to achieve them and<br />
how their research will benefit patients with a blood<br />
cancer.<br />
Applicants for clinical trials must also submit a draft<br />
trial protocol. This describes what treatments patients<br />
entered onto this trial will receive, and when.<br />
STEP 2: PEER REVIEW<br />
All applications for all categories of award are sent to<br />
expert referees worldwide for evaluation based on the<br />
following criteria: is it the right research, at the right<br />
time, in the right place, with the right people? Up to six<br />
referees will be consulted for individual applications.<br />
We draw on a database of over 500 experts, who we rely<br />
on for informed advice and recommendations about<br />
each application.<br />
We check all potential external peer reviewers for any<br />
potential conflict of interest with an application, before<br />
we ask for their opinion on it. Reviewers are also asked<br />
to declare any conflicts of interest they may have with<br />
the application or applicant/s which might not be<br />
known to us.<br />
In addition, specialist programmes are assessed at a<br />
site visit, where a committee of experts from around<br />
the world visit the team under review at their host<br />
institution or university. A report on the conclusions<br />
and recommendations of the site visit committee is<br />
then presented to our Research Committee.<br />
Candidates who are short listed for training and career<br />
development awards are interviewed by the sub-<br />
Committee, which then makes recommendations to the<br />
Research Committee.<br />
Applications for phase I and II clinical trials make<br />
presentations to the Clinical Trials Committee and take<br />
questions on their trial design.<br />
Committee members aren’t allowed access to review<br />
documents for their own applications or for any<br />
applications from the same institution. In additional,<br />
they aren’t present when their own application<br />
or applications from their institutions are being<br />
discussed.<br />
STEP 4: BOARD OF TRUSTEES<br />
All recommendations for all awards made by the three<br />
committees are reported to our Board of Trustees, who<br />
make the final decisions on which applications will be<br />
approved for funding.<br />
We’re profoundly grateful for the expertise and time of<br />
the very many volunteers who ensure that we uphold<br />
the very best standards of review at all times and<br />
ensure that we optimise every penny that we receive<br />
for the benefit of patients.<br />
As our research portfolio becomes ever more<br />
translational, we recognise that the division of<br />
responsibilities between our committees is becoming<br />
increasingly blurred. With that in mind, in the coming<br />
year we’ll be exploring how to develop our committees<br />
so they’re structured in a way that enhances our ability<br />
to optimise the connection between our research,<br />
trials-associated research projects and clinical trials.<br />
STEP 3: COMMITTEE MEETING<br />
All applications, together with the reviewer’s reports,<br />
are considered by every member of the designated<br />
committee. The committee meetings allow the<br />
members to discuss the merits of each application<br />
submitted in that round. They then draw up a list of<br />
applications recommended for funding.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 46<br />
HOW WE WORK<br />
PUBLIC BENEFIT<br />
In reviewing our aims and objectives and planning<br />
future activities, the Trustees have taken into account<br />
the Charity Commission’s general guidance on public<br />
benefit. The Trustees always ensure that the activities<br />
undertaken are in line with the charitable objectives<br />
and aims of Bloodwise. Although our activities are<br />
specifically inspired and motivated by the needs<br />
of blood cancer patients, there is no doubt that our<br />
understanding of blood cancers often leads the way<br />
in enhancing understanding of other cancers and<br />
diseases.<br />
OUR EMPLOYEES AND<br />
VOLUNTEERS<br />
The tremendous progress that we continue to make<br />
for patients is only possible thanks to the dedication<br />
and hard work of our volunteers, supporters and<br />
employees.<br />
In the last year alone our voluntary Branches<br />
contributed £1.2 million of income (FY14: £1.4 million),<br />
but they are also our local ambassadors, creating<br />
connections and awareness in their local communities.<br />
We treasure our volunteers who work with our<br />
employees in our various offices, who demonstrate<br />
their commitment to Bloodwise by being prepared to<br />
help in any way that they can. We also would be unable<br />
to manage many of our sporting and special events<br />
without time given voluntarily by very many special<br />
people.<br />
We employ 114 people and are committed to supporting<br />
their learning and development needs; making our<br />
reward and recognition policies as fair as possible;<br />
and where possible offering opportunities to work on<br />
project groups beyond their own sphere of specialist<br />
knowledge.<br />
Inspired by our patients, Bloodwise is a passionate<br />
place to be, but building friendships with potentially<br />
terminally ill people brings both great rewards and<br />
emotional challenges. We support our employees with<br />
an assistance programme and most recently we have<br />
been able to offer psychological and emotional support.<br />
We never forget our patients and their families, who are<br />
at the heart of all that we do.<br />
TRUSTEES’ INDEMNITY<br />
The Company purchased and maintained throughout<br />
the financial year Trustees’ liability insurance in<br />
respect of itself and its Trustees.<br />
INDEPENDENT AUDITOR<br />
Deloitte LLP have expressed their willingness to<br />
continue to act as auditor.<br />
The Trustee’s report, including the strategic report, was<br />
approved by the Board of Trustees on 23 June 2015.<br />
Signed by order of the Trustees<br />
(incorporating information to be reported in the Director’s report as per the requirements of the Companies Act)<br />
Catherine Gilman<br />
Chief Executive & Company Secretary<br />
23 June 2015<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 47<br />
STATEMENT OF TRUSTEE RESPONSIBILITIES<br />
Statement of Trustee<br />
responsibilities<br />
The Trustees (who are also the directors of Bloodwise<br />
for the purposes of company law) are responsible for<br />
preparing the Report of the Trustees and the financial<br />
statements in accordance with applicable law and United<br />
Kingdom Accounting Standards (United Kingdom<br />
Generally Accepted Accounting Practice).<br />
Company law requires the Trustees to prepare financial<br />
statements for each financial year which give a true<br />
and fair view of the state of affairs of the charitable<br />
company and the group and of the incoming resources<br />
and application of resources, including the income and<br />
expenditure, of the charitable company and group for<br />
that period. In preparing these financial statements,<br />
the Trustees are required to:<br />
› select suitable accounting policies and then apply<br />
them consistently<br />
› observe the methods and principles of the<br />
Charities SORP<br />
They are also responsible for safeguarding the assets of<br />
the charitable company, and of the group, and hence for<br />
taking reasonable steps for the prevention and detection<br />
of fraud and other irregularities.<br />
In so far as the Trustees are aware:<br />
› there is no relevant audit information of which the<br />
charitable company’s auditor is unaware; and<br />
› the Trustees have taken all steps they ought to have<br />
taken to make themselves aware of any relevant<br />
audit information and to establish that the auditor<br />
is aware of that information.<br />
The Trustees are responsible for the maintenance and<br />
integrity of the corporate and financial information<br />
included on the charitable company’s website.<br />
Legislation in the United Kingdom governing the<br />
preparation and dissemination of financial statements<br />
may differ from legislation in other jurisdictions.<br />
› make judgments and accounting estimates that<br />
are reasonable and prudent<br />
› state whether applicable UK Accounting Standards<br />
have been followed, subject to any material<br />
departures disclosed and explained in the<br />
financial statements<br />
› prepare the financial statements on the going<br />
concern basis unless it is inappropriate to<br />
presume that the charitable company will<br />
continue in business.<br />
The Trustees are responsible for keeping adequate<br />
accounting records that are sufficient to show and<br />
explain the charitable company’s transactions and<br />
disclose with reasonable accuracy at any time the<br />
financial position of the charitable company and to<br />
enable them to ensure that the financial statements<br />
comply with the Companies Act 2006, the Charities<br />
and Trustee Investment (Scotland) Act 2005 and the<br />
Charities Accounts (Scotland) Regulations 2006.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 48<br />
INDEPENDENT AUDITOR’S REPORT<br />
Independent Auditor’s Report to the Trustees<br />
and Members of Bloodwise for the year ended<br />
31 March 2015<br />
We have audited the financial statements of Bloodwise<br />
for the year ended 31 March 2015 which comprise<br />
the Group Statement of Financial Activities, the<br />
Group and charitable company’s Balance Sheets, the<br />
Group Cash Flow Statement and the related notes 1<br />
to 16. The financial reporting framework that has<br />
been applied in their preparation is applicable law<br />
and United Kingdom Accounting Standards (United<br />
Kingdom Generally Accepted Accounting Practice).<br />
This report is made solely to the charitable company’s<br />
members, as a body, in accordance with Chapter 3 of<br />
Part 16 of the Companies Act 2006 and to the charity’s<br />
Trustees, as a body, in accordance with section 44(1)<br />
(c) of the Charities and Trustee Investment (Scotland)<br />
Act 2005 and regulation 10 of the Charities Accounts<br />
(Scotland) Regulations 2006 (as amended). Our audit<br />
work has been undertaken so that we might state to<br />
the charitable company’s members and the Trustees<br />
those matters we are required to state to them in an<br />
auditor’s report and for no other purpose. To the fullest<br />
extent permitted by law, we do not accept or assume<br />
responsibility to anyone other than the charitable<br />
company, the charitable company’s members as a body<br />
and the charitable company’s Trustees as a body, for<br />
our audit work, for this report, or for the opinions we<br />
have formed.<br />
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND AUDITOR<br />
As explained more fully in the Statement of Trustees<br />
Responsibilities, the Trustees (who are also the<br />
directors of the charitable company for the purposes of<br />
company law) are responsible for the preparation of the<br />
financial statements and for being satisfied that they<br />
give a true and fair view.<br />
We have been appointed as auditor under section 44(1)<br />
(c) of the Charities and Trustee Investment (Scotland)<br />
Act 2005 and under the Companies Act 2006 and<br />
report in accordance with regulations made under<br />
those Acts.<br />
Our responsibility is to audit and express an opinion<br />
on the financial statements in accordance with<br />
applicable law and International Standards on Auditing<br />
(UK and Ireland). Those standards require us to comply<br />
with the Auditing Practices Board’s (APB’s) Ethical<br />
Standards for Auditors.<br />
SCOPE OF THE AUDIT OF THE FINANCIAL STATEMENTS<br />
An audit involves obtaining evidence about the<br />
amounts and disclosures in the financial statements<br />
sufficient to give reasonable assurance that<br />
the financial statements are free from material<br />
misstatement, whether caused by fraud or error. This<br />
includes an assessment of: whether the accounting<br />
policies are appropriate to the group’s and the parent<br />
charitable company’s circumstances and have been<br />
consistently applied and adequately disclosed; the<br />
reasonableness of significant accounting estimates<br />
made by the Trustees; and the overall presentation<br />
of the financial statements. In addition, we read all<br />
the financial and non-financial information in the<br />
Annual Report to identify material inconsistencies<br />
with the audited financial statements and to identify<br />
any information that is apparently materially<br />
incorrect based on, or materially inconsistent with, the<br />
knowledge acquired by us in the course of performing<br />
the audit. If we become aware of any apparent material<br />
misstatements or inconsistencies we consider the<br />
implications for our report.<br />
OPINION ON FINANCIAL STATEMENTS<br />
In our opinion the financial statements:<br />
› give a true and fair view of the state of the group’s<br />
and the parent charitable company’s affairs as<br />
at 31 March 2015 and of the group’s and the<br />
parent charitable company’s incoming resources<br />
and application of resources, including the group’s<br />
and the parent’s income and expenditure, for the<br />
year then ended;<br />
› have been properly prepared in accordance with<br />
United Kingdom Generally Accepted Accounting<br />
Practice; and<br />
› have been prepared in accordance with the<br />
Companies Act 2006, the Charities and Trustee<br />
Investment (Scotland) Act 2005 and regulation<br />
8 of the Charities Accounts (Scotland) Regulations<br />
2006 (as amended).<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 49<br />
INDEPENDENT AUDITOR’S REPORT<br />
Independent Auditor’s Report to the Trustees<br />
and Members of Bloodwise for the year ended<br />
31 March 2015 (continued)<br />
OPINION ON OTHER MATTERS PRESCRIBED BY THE<br />
COMPANIES ACT 2006<br />
In our opinion the information given in the Strategic<br />
Report and the Report of the Trustees for the financial<br />
year for which the financial statements are prepared<br />
is consistent with the financial statements.<br />
MATTERS ON WHICH WE ARE REQUIRED TO REPORT<br />
BY EXCEPTION<br />
We have nothing to report in respect of the following<br />
matters where the Companies Act 2006 and the<br />
Charities Accounts (Scotland) Regulations 2006 (as<br />
amended) requires us to report to you if, in our opinion:<br />
› The parent charitable company has not kept proper<br />
and adequate accounting records or returns<br />
adequate for our audit have not been received from<br />
branches not visited by us; or<br />
› The parent charitable company’s financial<br />
statements are not in agreement with the<br />
accounting records or returns; or<br />
› Certain disclosures of Trustees’ remuneration<br />
specified by law are not made; or<br />
› We have not received all the information and<br />
explanations we require for our audit.<br />
Reza Motazedi fca (Senior statutory auditor) for and<br />
on behalf of Deloitte LLP Chartered Accountants and<br />
Statutory Auditor, London, United Kingdom<br />
Deloitte LLP is eligible to act as an auditor in terms<br />
of section 1212 of the Companies Act 2006 and<br />
consequently to act as the auditor of a registered<br />
charity.<br />
23 June 2015<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 50<br />
Group statement of financial activities for the year ended 31 March 2015<br />
Group statement of financial activities for the year<br />
ended 31 March 2015<br />
INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT<br />
Notes<br />
Restricted<br />
Funds<br />
2015 2015 2015 2014<br />
Unrestricted<br />
Funds<br />
Total<br />
Total<br />
£'000 £'000 £'000 £'000<br />
INCOMING RESOURCES<br />
Incoming resources from generated funds<br />
Voluntary income 723 11,410 12,133 12,731<br />
Legacies 339 5,898 6,237 6,809<br />
1,062 17,308 18,370 19,540<br />
Activities for generating funds<br />
Trading income (LLRT) 7 - 796 796 581<br />
Investment income 1 - 1,422 1,422 1,535<br />
TOTAL INCOMING RESOURCES 1,062 19,526 20,588 21,656<br />
RESOURCES EXPENDED<br />
Cost of generating funds<br />
Fundraising and marketing - 5,728 5,728 5,380<br />
Trading expenditure (LLRT) 7 - 355 355 257<br />
Investment management fees - 199 199 235<br />
- 6,282 6,282 5,872<br />
Charitable activities 2<br />
Research 560 32,606 33,166 24,168<br />
Deferred funding - (7,535) (7,535) (3,862)<br />
Unspent funds at completion of grant - (2,057) (2,057) (679)<br />
Patient benefit activities - 1,503 1,503 815<br />
560 24,517 25,077 20,442<br />
Governance costs - 202 202 251<br />
TOTAL RESOURCES EXPENDED 560 31,001 31,561 26,565<br />
NET INCOMING / (OUTGOING) RESOURCES,<br />
BEING NET EXPENDITURE FOR THE YEAR,<br />
BEFORE TRANSFERS 3 502 (11,475) (10,973) (4,909)<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 51<br />
Group statement of financial activities for the year ended 31 March 2015<br />
Group statement of financial activities for the year<br />
ended 31 March 2015 (continued)<br />
INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT<br />
Notes<br />
Restricted<br />
Funds<br />
2015 2015 2015 2014<br />
Unrestricted<br />
Funds<br />
Total<br />
Total<br />
£'000 £'000 £'000 £'000<br />
NET INCOMING / (OUTGOING) RESOURCES,<br />
BEING NET EXPENDITURE FOR THE YEAR,<br />
BEFORE TRANSFERS 3 502 (11,475) (10,973) (4,909)<br />
Transfers 14 (502) 502 - -<br />
NET OUTGOING RESOURCES, BEING<br />
NET EXPENDITURE FOR THE YEAR,<br />
BEFORE GAINS - (10,973) (10,973) (4,909)<br />
Realised and unrealised<br />
gains on investments 6<br />
-<br />
- 3,469 3,469 797<br />
NET MOVEMENT IN FUNDS - (7,504) (7,504) (4,112)<br />
Balance brought forward at<br />
1 April 2014 - 11,348 11,348 15,460<br />
Balance carried forward at<br />
31 March 2015 13 - 3,844 3,844 11,348<br />
All amounts relate to the continuing activities of the group.<br />
The group has no recognised gains and losses other than those included in the results above, and therefore<br />
no separate statement of total recognised gains and losses has been presented.<br />
The notes on pages 56 to 65 form part of these financial statements.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 52<br />
Balance sheets as at 31 March 2015<br />
Balance sheets as at 31 March 2015<br />
GROUP<br />
BLOODWISE<br />
2015 2014 2015 2014<br />
Notes £'000 £'000 £'000 £'000<br />
FIXED ASSETS<br />
Tangible assets 5 1,859 1,956 1,859 1,956<br />
Investments 6 65,752 74,477 65,752 74,477<br />
Investment in subsidiary company 7 - - 76 76<br />
67,611 76,433 67,687 76,509<br />
CURRENT ASSETS<br />
Stocks 241 109 194 82<br />
Debtors 8 1,510 1,711 1,845 1,891<br />
Cash at bank and in hand 3,170 1,185 2,729 896<br />
4,921 3,005 4,768 2,869<br />
CREDITORS<br />
Amounts falling due within one year 9 (28,957) (26,279) (28,880) (26,219)<br />
NET CURRENT LIABILITIES (24,036) (23,274) (24,112) (23,350)<br />
TOTAL ASSETS LESS CURRENT LIABILITIES 43,575 53,159 43,575 53,159<br />
CREDITORS<br />
Amounts falling due after more than one<br />
year<br />
10 (39,731) (41,811) (39,731) (41,811)<br />
NET ASSETS 3,844 11,348 3,844 11,348<br />
Represented by:<br />
RESTRICTED FUNDS 14 - - - -<br />
UNRESTRICTED FUNDS 14 3,844 11,348 3,844 11,348<br />
(includes revaluation reserve of £6,085,000 (FY14: £10,959,000))<br />
TOTAL FUNDS 3,844 11,348 3,844 11,348<br />
The financial statements were approved, authorised for issue and signed on behalf of the Trustees<br />
on 23 June 2015 by:<br />
P B Allen<br />
Chairman<br />
P M Burrell<br />
Honorary Treasurer<br />
The notes on pages 56 to 65 form part of these financial statements.<br />
Company registered Number : 738089<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 53<br />
Group cash flow statement for the year ended 31 March 2015<br />
Group cash flow statement for the year<br />
ended 31 March 2015<br />
2015 2014<br />
Notes £'000 £'000<br />
Cash flow from operating activities (a) (11,631) (9,479)<br />
Returns on investments (b) 1,422 1,535<br />
(10,209) (7,944)<br />
Capital expenditure and financial<br />
investment (c) 26,409 8,611<br />
Cash flow for the year 16,200 667<br />
Opening cash on deposit 11,583 10,916<br />
Closing cash on deposit 27,783 11,583<br />
NOTES TO THE CASH FLOW STATEMENT:<br />
(a) Reconciliation of net outgoing resources to cash flow from operating activities.<br />
Net outgoing resources for the year (10,973) (4,909)<br />
Investment income (1,422) (1,535)<br />
Adjustment for non-cash items:<br />
Depreciation 97 96<br />
(Increase) in stocks (132) (27)<br />
Decrease/(Increase) in debtors 201 (526)<br />
Increase/(Decrease) in creditors 598 (2,578)<br />
(11,631) (9,479)<br />
(b) Returns on investments.<br />
Listed investment income 1,386 1,481<br />
Interest received 1 10<br />
Rental income 35 44<br />
1,422 1,535<br />
(c) Capital expenditure and financial<br />
investment.<br />
Net proceeds from sales and<br />
purchases of investments 26,409 8,611<br />
26,409 8,611<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 54<br />
Accounting policies for the year ended 31 March 2015<br />
Accounting<br />
policies<br />
BASIS OF ACCOUNTING<br />
The report and accounts are prepared under the<br />
historical cost convention modified to include the<br />
revaluation of investments and in accordance with the<br />
Companies Act 2006, applicable accounting standards<br />
and Accounting and Reporting by Charities; Statement<br />
of Recommended Practice revised 2005 (SORP).<br />
The report and accounts are prepared on the going<br />
concern basis as described in the Report of Trustees on<br />
page 42.<br />
As permitted by section 408 of the Companies Act 2006<br />
and Paragraph 397 of the SORP, no separate Statement<br />
of Financial Activities has been prepared in respect of<br />
Bloodwise.<br />
INCOMING RESOURCES<br />
Legacy income is brought into the accounts when<br />
receivable. This is deemed to be when notice of<br />
impending distribution has been received as at 31<br />
March and the funds have been received or can be<br />
quantified with reasonable certainty by 15 May.<br />
Investment income is brought into the accounts when<br />
receivable.<br />
Income from voluntary Branches and donations from<br />
other voluntary fundraising sources are brought into<br />
the accounts when received at Head Office.<br />
Gift Aid is brought into the accounts on a receivable<br />
basis as part of the income to which it relates.<br />
Fundraising income is shown gross except for small<br />
fundraising events run by volunteers where monies are<br />
received at Head Office net of expenses.<br />
Leukaemia & Lymphoma Research Trading Ltd income<br />
is included when receivable, excluding VAT.<br />
RESOURCES EXPENDED<br />
Costs of generating funds comprises costs associated<br />
with attracting voluntary income and costs of other<br />
income generation e.g. costs of goods sold and other<br />
costs associated with Leukaemia & Lymphoma<br />
Research Trading Ltd. Expenditure is brought into the<br />
accounts when incurred.<br />
Purchase costs and net proceeds of disposal of<br />
investments include the direct costs of investing and<br />
disposing respectively.<br />
Charitable activities expenditure includes expenditure<br />
associated with their performance and comprises<br />
direct expenses including grant awards and staff costs<br />
as well as support costs attributable to these activities.<br />
Research, training and educational grants are included<br />
in the Statement of Financial Activities (SoFA) when<br />
detailed costs are approved by the Board of Trustees.<br />
Clinical trials grants are included in the SoFA when<br />
approved by the Board of Trustees and once the ethical<br />
approval of the final protocol is obtained. Other<br />
charitable expenditure is brought into the accounts<br />
when incurred.<br />
Governance costs include those incurred in the<br />
governance of assets and strategy matters of the<br />
charity, associated with constitutional and statutory<br />
requirements.<br />
Where costs cannot be directly attributed, including<br />
support and central function costs, they have been<br />
allocated to activity cost categories on a basis<br />
consistent with the use of the resources e.g. estimated<br />
time spent or amount used.<br />
Irrecoverable VAT is written off when the expenditure<br />
to which it relates is incurred and is recorded as part of<br />
that expense.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 55<br />
Accounting policies for the year ended 31 March 2015<br />
DEPRECIATION OF TANGIBLE<br />
FIXED ASSETS<br />
Freehold land is not depreciated and all items of<br />
equipment costing below £10,000 are charged in full to<br />
expenditure in the year of purchase. Other categories of<br />
fixed assets are written off over the following periods:<br />
› Freehold buildings – 50 years<br />
› Refurbishment costs – 5 years<br />
› Software development costs – 5 years<br />
› Equipment – 2 years<br />
› Vehicles – 4 years<br />
BRANCH ACCOUNTING<br />
The 138 voluntary Branches and voluntary Fundraising<br />
Groups across the UK raise money for Bloodwise from<br />
a variety of local activities and sources with minimal<br />
cost expenditure and submit accounts annually to<br />
Head Office. The Branches’ net assets, being primarily<br />
cash not remitted to Head Office by 31 March 2015,<br />
have not been consolidated in these accounts and these<br />
have been estimated at £192,000 (2014: £268,000).<br />
PENSION CONTRIBUTIONS<br />
Pension contributions payable under a defined<br />
contribution scheme are charged to the SoFA in the<br />
accounting period to which they relate.<br />
FUNDS<br />
Unrestricted general funds are available for charitable<br />
purposes.<br />
Restricted funds are funds which are to be used in<br />
accordance with specific restrictions imposed by donors.<br />
Full details of funds are shown in note 14.<br />
TAXATION<br />
As a registered charity, income and gains are exempt<br />
from Corporation Tax to the extent they are applied to<br />
its charitable objectives. The trading subsidiary has not<br />
incurred a tax charge since all its profits are gifted to<br />
the charity.<br />
INVESTMENTS<br />
Investments are included at market value at the balance<br />
sheet date which gives rise to unrealised gains and<br />
losses at the end of the financial period, which are<br />
included in the SoFA.<br />
STOCK<br />
Stock is valued at the lower of cost and net realisable<br />
value. The cost of publications held for charitable<br />
purposes is expensed as incurred.<br />
GROUP ACCOUNTS<br />
Leukaemia & Lymphoma Research Trading Ltd is wholly<br />
owned by Bloodwise and is consolidated in these<br />
accounts on a line by line basis.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 56<br />
Notes to the Accounts for the year ended 31 March 2015<br />
Notes to the accounts for the year<br />
ended 31 March 2015<br />
1 INVESTMENT INCOME<br />
2015 2014<br />
£'000<br />
£'000<br />
UK listed equities 754 874<br />
Non-UK listed equities 142 135<br />
Fixed interest stocks 490 472<br />
Bank interest - 3<br />
Rental income 35 44<br />
Interest on legacy accounts 1 7<br />
1,422 1,535<br />
2 RESOURCES EXPENDED<br />
Research<br />
Grants<br />
Staff<br />
Direct<br />
costs<br />
Allocated<br />
Central<br />
Support<br />
costs<br />
Total<br />
2015<br />
Total<br />
2014<br />
£’000 £'000 £'000 £'000 £'000 £'000<br />
Costs of generating funds<br />
Fundraising and Marketing - 2,820 2,245 663 5,728 5,380<br />
LLRT costs (note 7) - - 355 - 355 257<br />
Investment management fees - - 199 - 199 235<br />
Charitable activities<br />
Research 32,297 316 478 75 33,166 24,168<br />
Deferred funding (7,535) - - - (7,535) (3,862)<br />
Unspent funds at completion<br />
of grant (2,057) - - - (2,057) (679)<br />
Patient benefit activities - 840 523 140 1,503 815<br />
Governance costs - 140 44 18 202 251<br />
Total 22,705 4,116 3,844 896 31,561 26,565<br />
Direct costs are those costs associated with providing the activity such as fundraising materials, advertising,<br />
postage and stationery, venue and travel expenses. Central support costs, which include office and premises costs,<br />
are allocated on a basis consistent with use of resources, primarily headcount.<br />
Staff costs and allocated central support costs are allocated on the basis of a combination of time spent on each<br />
activity and headcount.<br />
Governance direct costs include auditor’s remuneration, legal and professional fees and Trustees’ expenses.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 57<br />
Notes to the Accounts for the year ended 31 March 2015<br />
Notes to the accounts for the year<br />
ended 31 March 2015 (continued)<br />
3 NET OUTGOING RESOURCES<br />
2015 2014<br />
£'000<br />
£'000<br />
Net outgoing resources is stated after charging:<br />
Depreciation of tangible fixed assets owned by the charity 97 96<br />
Auditor’s remuneration:<br />
Audit fee in respect of year 24 20<br />
4 STAFF COSTS<br />
2015 2014<br />
£'000<br />
£'000<br />
Salaries 3,682 3,126<br />
National Insurance contributions 362 301<br />
Pension scheme contributions 72 170<br />
4,116 3,597<br />
Analysis of average number of employees during<br />
Number<br />
Number<br />
the year by function:<br />
Fundraising and marketing 72 66<br />
Patient benefit activities, including research 25 16<br />
Central support and governance 14 12<br />
111 94<br />
The number of employees whose total emoluments for the year, as defined for taxation<br />
purposes, exceeded £60,000 were:<br />
£60,001 - £70,000 1 -<br />
£70,001 - £80,000 - -<br />
£80,001 - £90,000 2 4<br />
£90,001 - £100,000 2 -<br />
£100,001 - £110,000 - -<br />
£110,001 - £120,000 - 1<br />
£120,001 - £130,000 1 -<br />
Contributions, relating to the staff listed above, amounting to £73,631 (2014: £91,572) were made to the pension<br />
scheme (see note 15).<br />
Members of the Board of Trustees receive no emoluments. Seven Trustees (2014: ten Trustees) claimed (or had paid<br />
on their behalf) travelling, accommodation and entertaining expenses totalling £3,994 (FY14: £6,129).<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 58<br />
Notes to the Accounts for the year ended 31 March 2015<br />
Notes to the accounts for the year<br />
ended 31 March 2015 (continued)<br />
5 TANGIBLE ASSETS – GROUP AND BLOODWISE<br />
Freehold<br />
Land &<br />
Buildings<br />
Fixtures,<br />
Equipment<br />
& Vehicles<br />
Total<br />
£’000 £’000 £’000<br />
Cost<br />
At 1 April 2014 1,965 765 2,730<br />
At 31 March 2015 1,965 765 2,730<br />
Depreciation<br />
At 1 April 2014 197 577 774<br />
Charge for the year 20 77 97<br />
At 31 March 2015 217 654 871<br />
Net Book Value<br />
At 31 March 2015 1,748 111 1,859<br />
At 31 March 2014 1,768 188 1,956<br />
6 INVESTMENTS – GROUP AND BLOODWISE<br />
2015 2014<br />
£’000 £’000<br />
Market value of investments<br />
at 1 April 64,079 71,893<br />
Additions at cost 7,653 7,147<br />
Disposal proceeds (34,062) (15,758)<br />
Net investment gains 3,469 797<br />
Market value of investments<br />
at 31 March 41,139 64,079<br />
Cash held as part of investment<br />
portfolio 24,613 10,398<br />
Total with investment managers 65,752 74,477<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 59<br />
Notes to the Accounts for the year ended 31 March 2015<br />
Notes to the accounts for the year<br />
ended 31 March 2015 (continued)<br />
6 INVESTMENTS – GROUP AND BLOODWISE (continued)<br />
Investments comprise the following:<br />
2015 2014<br />
£’000 £’000<br />
Listed UK equities 7,105 18,258<br />
Listed UK fixed interest<br />
and government stocks 12,259 13,934<br />
Listed non-UK equities 9,075 14,516<br />
Listed non-UK fixed interest stocks 2,177 4,540<br />
Other funds 10,523 12,831<br />
Total investments 41,139 64,079<br />
Cost of investments 35,054 53,120<br />
Investment revaluation reserve<br />
(difference between market value<br />
and cost) 6,085 10,959<br />
7 INVESTMENT IN SUBSIDIARY COMPANY – BLOODWISE ONLY<br />
The investment in Leukaemia & Lymphoma Research Trading Ltd represents the whole of the issued ordinary<br />
share capital of a company incorporated in the United Kingdom which engages in the sale of Christmas cards and<br />
gifts to raise funds for Bloodwise. The key financial information of Leukaemia & Lymphoma Research Trading Ltd<br />
is as follows:<br />
2015 2014<br />
£’000 £’000<br />
Turnover 796 581<br />
Bank interest received 1 1<br />
797 582<br />
Cost of sales and direct expenses (255) (178)<br />
Distribution costs (74) (57)<br />
Overhead expenses (26) (22)<br />
Donated to Bloodwise under<br />
Gift Aid (442) (325)<br />
Movement in shareholders funds - -<br />
Share capital 76 76<br />
Retained profit - -<br />
Shareholders funds represented<br />
by net assets 76 76<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 60<br />
Notes to the Accounts for the year ended 31 March 2015<br />
Notes to the accounts for the year<br />
ended 31 March 2015 (continued)<br />
8 DEBTORS – Amounts receivable within one year<br />
GROUP<br />
BLOODWISE<br />
2015 2014 2015 2014<br />
£'000 £'000 £'000 £'000<br />
Income tax recoverable - 7 - 7<br />
Trade debtors 32 122 10 -<br />
Other debtors 210 64 195 64<br />
Due from subsidiary undertaking - - 442 302<br />
Prepayments and accrued income 1,268 1,518 1,198 1,518<br />
1,510 1,711 1,845 1,891<br />
Prepayments and accrued income includes accrued income in respect of legacies receivable of £961,000<br />
(2014: £952,000). Legacies for which a notice of distribution had been received at 31 March 2015 but no funds<br />
had been received by 15 May 2015 were estimated to be £2,111,000 (2014: £3,476,000).<br />
9 CREDITORS – Amounts falling due within one year<br />
GROUP<br />
BLOODWISE<br />
2015 2014 2015 2014<br />
£'000 £'000 £'000 £'000<br />
Research commitments (note 11) 28,338 25,598 28,338 25,598<br />
Other creditors 415 520 380 463<br />
Accruals and provisions 204 87 162 84<br />
Pension liability (note 15) - 74 - 74<br />
28,957 26,279 28,880 26,219<br />
10 CREDITORS – Amounts falling due after more than one year<br />
GROUP AND BLOODWISE<br />
2015 2014<br />
£'000 £'000<br />
Research commitments (note 11) 39,731 41,386<br />
Pension liability (note 15) - 425<br />
39,731 41,811<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 61<br />
Notes to the Accounts for the year ended 31 March 2015<br />
Notes to the accounts for the year<br />
ended 31 March 2015 (continued)<br />
11 MOVEMENT IN AND ANALYSIS OF RESEARCH COMMITMENTS<br />
– GROUP AND BLOODWISE<br />
2015 2014<br />
£'000 £'000 £'000 £'000<br />
Balance at 1 April 66,984 69,704<br />
Grants approved by the Board of<br />
Trustees during the year (note 12) 32,297 23,224<br />
Research support costs 869 944<br />
Total research expenditure 33,166 24,168<br />
Deferred funding (7,535) (3,862)<br />
Unspent funds at completion of grant (2,057) (679)<br />
Research support costs (869) (944)<br />
22,705 18,683<br />
89,689 88,387<br />
Less: Paid during the year (21,620) (21,403)<br />
Balance at 31 March 2015 68,069 66,984<br />
Due within one year (note 9) 28,338 25,598<br />
Due after more than one year (note 10) 39,731 41,386<br />
68,069 66,984<br />
Total research commitments of £68,069,000 (2014: £66,984,000) are amounts approved by the Board of Trustees<br />
on or before 31 March 2015 for spend over the next 5 years.<br />
Research support costs comprise related staff costs, direct costs and allocated central support costs.<br />
The deferred funding of £7,535,000 (2014: £3,862,000) is in respect of funding, due after more than one year<br />
and within 5 years, for grants approved by the Board of Trustees during the year which is subject to conditions<br />
being met.<br />
The amount of expenditure in each year depends on the progress of the research projects and therefore the<br />
amount shown in note 9 as due within one year is an estimate.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 62<br />
Notes to the Accounts for the year ended 31 March 2015<br />
Notes to the accounts for the year<br />
ended 31 March 2015 (continued)<br />
12 GRANTS APPROVED IN THE YEAR, SHOWN BY INSTITUTION – GROUP AND BLOODWISE<br />
2015 2014<br />
£'000 £'000<br />
Addenbrookes Hospital - 129<br />
Cardiff University 208 1,928<br />
Derriford Combined Laboratories - 219<br />
Hammersmith Hospital - 45<br />
Imperial College 1,714 1,142<br />
Institute of Cancer Research 219 1,665<br />
King’s College Hospital 365 -<br />
King’s College London 5,433 1,832<br />
MRC Toxicology Unit 171 -<br />
Newcastle University 687 -<br />
Nottingham University Hospital NHS Trust - 60<br />
Oxford University Hospitals NHS Trust 119 -<br />
Queen Mary University London 2,588 -<br />
Queen’s University Belfast - 154<br />
Southampton General Hospital 2,294 -<br />
St James’s University Hospital - 2<br />
The Babraham Institute 291 120<br />
The University of Manchester - 33<br />
University College Hospital London 1,005 -<br />
University College London 712 1,751<br />
University of Birmingham 8,828 3,770<br />
University of Bristol - 235<br />
University of Cambridge 1,090 1,239<br />
University of Edinburgh - 488<br />
University of Glasgow 1,896 1,169<br />
University Hospital Southampton NHS<br />
Foundation Trust 297 -<br />
University of Leeds 249 717<br />
University of Leicester 142 -<br />
University of Liverpool - 43<br />
University of Manchester - 443<br />
University of Newcastle - 2,050<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 63<br />
Notes to the Accounts for the year ended 31 March 2015<br />
Notes to the accounts for the year<br />
ended 31 March 2015 (continued)<br />
12 GRANTS APPROVED IN THE YEAR, SHOWN BY INSTITUTION – GROUP AND BLOODWISE (continued)<br />
2015 2014<br />
£ ‘000 £’000<br />
University of Nottingham - 46<br />
University of Oxford 977 3,364<br />
University of Southampton 918 388<br />
University of Sussex 222 -<br />
Wellcome Trust Sanger Institute 104 -<br />
30,529 23,032<br />
Supplements to existing grants 1,558 192<br />
Leukaemia & Lymphoma Society US 106<br />
Wellcome Trust – Open Access 104<br />
Grants approved by the Board of Trustees<br />
during the year (note 11) 32,297 23,224<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 64<br />
Notes to the Accounts for the year ended 31 March 2015<br />
Notes to the accounts for the year<br />
ended 31 March 2015 (continued)<br />
13 ANALYSIS OF NET ASSETS BY FUNDS – GROUP<br />
Tangible<br />
Assets<br />
Investments<br />
Net Current<br />
(Liabilities)<br />
/ Assets<br />
Long Term<br />
Liabilities<br />
Net<br />
Assets<br />
£'000 £'000 £'000 £'000 £'000<br />
Unrestricted funds 1,859 64,965 (23,249) (39,731) 3,844<br />
Restricted funds - 787 (787) - -<br />
Total funds 1,859 65,752 (24,036) (39,731) 3,844<br />
14 RECONCILIATION OF MOVEMENTS IN FUNDS – GROUP<br />
Balance<br />
1 April<br />
2014<br />
Incoming<br />
Resources<br />
Resources<br />
Expended<br />
Transfers<br />
Gain on<br />
Investments<br />
Balance<br />
31 March<br />
2015<br />
£’000 £'000 £’000 £’000 £’000 £’000<br />
Unrestricted funds 11,348 19,526 (31,001) 502 3,469 3,844<br />
Restricted funds - 1,062 (560) (502) - -<br />
Total funds 11,348 20,588 (31,561) - 3,469 3,844<br />
The trustees reviewed the requirements for unrestricted funds during the year ended 31 March 2015 and updated<br />
the reserves policy.<br />
Reallocations between restricted and unrestricted funds relate to income raised in respect of commitments made<br />
and recognised by the charity in a prior period. This ensures that restricted income is correctly matched to the<br />
charitable expenditure to which it relates.<br />
As permitted by Section 408 of the Companies Act 2006, no separate statement of financial activities has been<br />
included in respect of Bloodwise. The movement in funds during the year that has been recognised in the financial<br />
statements of Bloodwise is a decrease of £7,504,000.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 65<br />
Notes to the Accounts for the year ended 31 March 2015<br />
Notes to the accounts for the year<br />
ended 31 March 2015 (continued)<br />
15 PENSION CONTRIBUTIONS<br />
Bloodwise operates a scheme to contribute a defined amount to individual employees’ personal pension<br />
schemes. The assets of the various schemes are held separately from those of Bloodwise in independently<br />
administered funds.<br />
The total cost of these schemes was £165,000 (2014: £170,000). Outstanding contributions included within other<br />
creditors at the balance sheet date were £76,000 (2014: £19,000).<br />
The former pension scheme for Bloodwise and Leukaemia & Lymphoma Trading Ltd was part of a multiemployer<br />
scheme which is a defined benefit scheme, the assets of which are held in independently administered<br />
funds. This scheme was closed to new entrants eight years ago and is in the process of being wound up.<br />
During the year ended 31 March 2015 the fund’s administrators issued details for the withdrawal from the<br />
scheme. Bloodwise withdrew from the scheme with effect from 31 March 2015 on payment of a final settlement.<br />
No further liabilities in respect tof the scheme remain with Bloodwise. Withdrawal from the scheme was at a<br />
lower cost than that previously provided for, resulting in a write-back of £93,000. This has been set off against<br />
the cost of the current scheme as shown in Note 4.<br />
16 RELATED PARTY TRANSACTIONS<br />
Bloodwise has taken advantage of the exemptions permitted under FRS 8 not to disclose transactions between<br />
Bloodwise and its wholly owned subsidiary, Leukaemia & Lymphoma Research Trading Ltd, which eliminate<br />
on consolidation.<br />
Other than as disclosed in Note 4, there are no transactions with Trustees or management, or other related<br />
party transactions to be disclosed.<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 66<br />
Report of the Trustees for the year ended 31 March 2015<br />
PATRON & TRUSTEES<br />
ROYAL PATRON<br />
His Royal Highness The Duke of Kent KG<br />
PRESIDENT<br />
Sir Ian Botham OBE<br />
HONORARY PRESIDENTS<br />
Richard Delderfield<br />
Angela Knowles<br />
Ken Lomas MBE<br />
CHAIRMAN OF FUNDRAISING<br />
Alastair Campbell<br />
BOARD OF TRUSTEES*<br />
NAME<br />
AUDIT & RISK<br />
COMMITTEE<br />
PATIENT IMPACT<br />
COMMITTEE<br />
(disbanded<br />
October 2014)<br />
REMUNERATION<br />
& APPOINTMENTS<br />
COMMITTEE<br />
INVESTMENT<br />
COMMITTEE<br />
Pelham Allen<br />
* *<br />
(Chairman)<br />
Jeremy Bird<br />
* * *<br />
(Vice-Chairman)<br />
Peter Burrell FCA<br />
* *<br />
(Honorary<br />
Treasurer)<br />
Maria Clarke *<br />
Zanna Floyd *<br />
Simon Guild *<br />
Lesley Lee *<br />
Charlie Metcalfe * *<br />
Michael Prescott * *<br />
John Reeve *<br />
Michael Williams *<br />
* As at year-end<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Bloodwise 67<br />
Report of the Trustees for the year ended 31 March 2015<br />
Officers & advisers<br />
SENIOR MANAGEMENT *<br />
Catherine Gilman, Chief Executive<br />
Professor Chris Bunce, Research Director<br />
Jonathan Cox, Finance Director<br />
Emma Whelan, Marketing Director<br />
Mark Wilson, Fundraising Director<br />
RESEARCH COMMITTEE MEMBERS*<br />
Professor Paul Farrell (Chair), Imperial College London<br />
Professor Christian Bastard, Centre Henri Becquerel, Rouen, France<br />
Professor Julian Dyson, Imperial College London<br />
Professor David Gillespie, University of Glasgow<br />
Professor Tessa Holyoake, University of Glasgow<br />
Dr Richard Jenner, University College London<br />
Dr Stefan Meyer, University of Manchester<br />
Professor Robert Slany, University of Erlangen, Germany<br />
Dr Martin Turner, Babraham Institute, Cambridge<br />
Professor Mark Vickers, University of Aberdeen<br />
Dr Marieke von Lindern, Amsterdam Medical Center, Netherlands<br />
Professor Christian Buske, University of Ulm, Germany<br />
Dr Mary Callahan, Université Joseph Fourier, Grenoble, France<br />
CLINICAL TRIALS COMMITTEE*<br />
Professor Irene Roberts (Chair), University of Oxford<br />
Dr Jamie Cavenagh, Bart’s Cancer Institute, London<br />
Professor Christine Chomienne, Institut Universitaire<br />
d’Hematologie, Paris, France<br />
Professor Stephen Devereux, King’s College Hospital, London<br />
Professor Paul Farrell, Imperial College London<br />
Dr Claire Harrison, Guys and St. Thomas’ NHS Foundation Trust<br />
Professor Peter Hillmen, St James’ University Hospital, Leeds<br />
Dr Robert Hills, Cardiff University<br />
Professor Graham Jackson, Northern Centre for Cancer Care,<br />
Newcastle<br />
Dr Martin Pule, University College London<br />
Professor Simon Rule, Derriford Hospital, Plymouth<br />
Dr Anna Schuh, University of Oxford<br />
TRAINING & CAREER DEVELOPMENT COMMITTEE *<br />
Professor Chris Gregory (interim chair),<br />
University of Edinburgh<br />
Professor Matthew Collin, Newcastle University<br />
Professor Paul Farrell, Imperial College London<br />
Dr Adele Fielding, University College London<br />
Dr Reuben Tooze, University of Leeds<br />
Professor Chris Pepper, Cardiff University<br />
BANKERS<br />
Barclays Bank PLC. 1 Churchill Place, London E14 5HP<br />
AUDITOR<br />
Deloitte LLP, Chartered Accountants & Registered Auditors<br />
2 New Street Square, London EC4A 3BZ<br />
INVESTMENT MANAGERS<br />
Cazenove Capital Management Ltd with Charity Investment<br />
from Schroders, 12 Moorgate, London EC2R 6DA<br />
INVESTMENT ADVISER<br />
Andrew Hutton<br />
LEGAL ADVISERS<br />
Fieldfisher, Riverbank House, 2 Swan Lane, London EC4R 3TT<br />
Nabarro, Lacon House, 84 Theobald’s Road, London WC1X 8RW<br />
REGISTRATION<br />
Our registered name is Bloodwise.<br />
We are registered with the Charity Commission of England and<br />
Wales (Charity number 216032) and in Scotland (Charity number<br />
SC037529) and as a company limited by guarantee (registered<br />
number 738089).<br />
PRINCIPAL OFFICE<br />
Our registered office is 39–40 Eagle Street, London WC1R 4TH<br />
OUR REGIONAL OFFICES<br />
Scotland: 12–14 Hillside Crescent, Edinburgh EH7 5EA<br />
North: Newcastle University, Biomedical Research Building,<br />
Room 2.35, 2nd Floor Campus for Ageing and Vitality, Newcastle<br />
upon Tyne NE4 5PL<br />
Midlands: Medical School, University of Birmingham,<br />
Edgbaston B15 2TT<br />
Wales: Department of Haematology, School of Medicine, Room 182,<br />
7th Floor, B–C Link, Cardiff University, Heath Park, Cardiff CF14 4X<br />
South West: Unit 40, Basepoint Business Centre, Yeoford Way,<br />
Exeter EX2 8LB<br />
London and South East: 39–40 Eagle Street, London WC1R 4TH<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
Leukaemia & Lymphoma Research 68<br />
STATEMENT OF TRUSTEE RESPONSIBILITIES<br />
Bloodwise<br />
39–40 Eagle Street, London WC1R 4TH<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)