jdrf · jdrf is the type 1 diabetes charity, improving lives until we find the cure. about jdrf: a...

JDRFAnnual Report and

Financial Statements

Company Limited by GuaranteeRegistration Number

02071638 (England and Wales)

Charity Registration Number295716 (England) andSC040123 (Scotland)

30 June 2016

JDRF Annual Report and Financial Statements

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ReportsChairman and Chief Executive’s report ................................................................................................... 5

Directors’ report ......................................................................................................................................................... 7

Reference and administrative details ...................................................................................................24

Independent auditor’s report .......................................................................................................................26

Financial StatementsConsolidated statement of financial activities ...............................................................................28

Balance sheets ........................................................................................................................................................29

Consolidated statement of cash flows .................................................................................................30

Principal accounting policies .........................................................................................................................31

Notes to the financial statements ............................................................................................................. 35

Contents


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Dear JDRF supporters,

In this, the middle year of our three year strategy, we are delighted to announce that we have already surpassed some of our three year objectives. We aimed to grow our income from £4.7 million in FY14 to £6 million by the end of FY17, but in fact have reached this stretching target one year early, raising £6.1 million (19% year on year growth in fundraised income) in FY16.

In light of this we have not only been able to reach our research funding target a year early, with £2 million given to support the global JDRF research funding programme, we have also been able to drive forward progress in other areas of our work vital to our mission.

Our work to move new treatments for type 1 diabetes out of the laboratory continues, with clinical trials of encapsulated islets and smart insulin being carried out around the world, and the steady progress of the artificial pancreas through the regulatory process and to people with type 1 diabetes.

We are pleased to support ground-breaking immunotherapy clinical trials taking place in the UK, with early stage tests in people with type 1 to test a drug that could halt and reverse the immune response that kills insulin producing beta cells and causes type 1 diabetes.

Our work to increase the total amount of type 1 diabetes research being carried out in the UK also continues and we are pleased to say that, through our advocacy work, in

Looking back on a ‘breakthrough’ yearA message from the Chairman and Chief Executive

Chairman and Chief Executive’s reportYear to 30 June 2016

James CrippsChairman

Karen AddingtonChief Executive

Chairman and Chief Executive’s report Year to 30 June 2016

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FY16 we attracted £3.4 million of partnership funding into type 1 research. We have also launched a programme to address the challenges of autoimmunity, bringing together government and charity research funders with researchers to begin the process of defining and planning to overcome some of the largest hurdles to curing type 1 diabetes and other autoimmune conditions.

We have been able to extend our community engagement programme, where our partnership with Blackrock has enabled us to increase our work around the UK to provide support and information to children, adults and families living with type 1 diabetes at diagnosis and beyond. This will help more families with type 1 diabetes now and in the future, and also engage more people with medical research and the search for the cure, during this exciting time of progress.

The UK has seen many changes to the political landscape this year and we remain cautious about the impact of these political decisions on our work to cure, treat and prevent type 1 diabetes. The UK’s exit from the European Union will impact the UK research community and we are working with other organisations to try to protect the key areas that make the UK one of the most successful countries in the world for medical research, and to seize any opportunities that this may also bring.

We are delighted with the results achieved in FY16, but we are not complacent. In FY17 we will launch a new three year strategy designed to accelerate our progress towards the cure, to fund more research, build more partnerships, support the progress of treatments through to people with type 1 and to further improve the support and information that we offer.

We would like to extend our sincere thanks to Ian Edwards, who stepped down as Chairman in September 2016 and who has been a stalwart support of JDRF for three decades, including two terms as Chairman and one as treasurer. We are indebted to him for his leadership, guidance and commitment.

We know that your hard work, and that of the rest of our amazing supporters, is responsible for the successes covered in this review; and that it will be the driver for our future ambitions. We thank everyone who has volunteered their time, donated, raised money, taken part in a clinical trial and spoken out on behalf of JDRF.

Thank you for joining us in finding the cure.


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Directors’ report Year to 30 June 2016

The directors present their report together with the audited financial statements of Juvenile Diabetes Research Foundation (“the charitable company”) for the year ended 30 June 2016.

This report has been prepared in accordance with Part 8 of the Charities Act 2011 and serves as the report of the directors for the purposes of the Companies Act 2006.

The financial statements have been prepared in accordance with the accounting policies set out on pages 27 to 32 therein and comply with the charitable company’s Memorandum and Articles of Association, applicable laws and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), effective from accounting periods commencing 1 January 2015 or later.

We are proud to be a part of a global network of independent and coordinated organisations working towards the same vision: a world without type 1 diabetes.

To do this, the JDRF network works internationally to:

• Fund a world class research programme focused on curing, treating and preventing type 1 diabetes

• Influence research funders and policy makers to accelerate the pace of research

• Ensure that research outcomes reach people with type 1 diabetes.

Our mission in the UK

To achieve our mission of eradicating type 1 diabetes and its effects for people in the UK we:

• Fund research approved and administered by our international research programme, based in the USA and supported by our UK Research Partnerships team

• Work with government, academia and industry to accelerate research in the UK and within healthcare policy to ensure that the outcomes of research are delivered to people with type 1 in the UK

• Give support and a voice to people with type 1 and their families.

JDRF is the type 1 diabetes charity, improving lives until we find the cure.

About JDRF:

A global mission to cure type 1 diabetes


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Our three year strategy: FY15-17

Pioneering progress, forging partnerships, transforming type 1

Research funding

Our three year ambition: By the end of FY17 our goal is to be spending at least £2 million on research supporting our international research programme, growing from £1.6 million in FY14.

Our FY16 results in numbers

The UK’s type 1 research community continues to attract significant funding from JDRF’s international research programme, reinforcing our country’s reputation as a leader in the field of autoimmunity; and demonstrating the excellence of researchers working to deliver the artificial pancreas and to treat the complications of type 1 diabetes. The JDRF network’s total funding of research in the UK for FY15 totalled £4.25 million, from a global portfolio commitment of £60 million. The UK received the largest amount of funding awarded after the US, and was awarded one third of all the research funded outside the US across the rest of the world. We spent £2 million supporting the global research programme in the UK last year. This was an 11 per cent increase on the previous year, and means that we have achieved our three year FY17 target of £2 million funding a year early.

Highlights this year from our UK and global research programme

As well as UK highlights of our global research programme, we report here on the highlights of the work funded elsewhere in the world, to give a picture of the true impact of the global network and international research strategy.

Cure research

JDRF-funded researchers in California worked with 14 newly diagnosed people to use their own their immune system cells to control the autoimmune reaction behind type 1. The researchers collected regulatory immune cells from each person, grew them in large numbers in the lab, then gave each person back a higher dose of their own cells. Although this trial was a safety study to make sure the approach didn’t make anyone more ill, the results were promising enough that we are now helping to fund the next phase of the study that will investigate whether the treatment is effective in helping people with type 1.

A collaboration between Professor Doug Melton of Harvard and Dr Daniel Anderson of MIT provided an excellent follow up to one of the biggest science stories of 2014. In 2014, Professor Melton announced that he was able to produce functional beta cells from stem cells, efficiently and in large quantities. Two studies published in January 2016 showed that the MIT/Harvard collaboration has developed a new method for encapsulating these lab-grown beta cells and that the encapsulated cells could survive an autoimmune attack for six months in mice.

In the UK, JDRF-funded researchers Professor Noel Morgan and Dr Sarah Richardson at Exeter University, published research showing that the way in which type 1 diabetes affects the beta cells of the pancreas is markedly different depending on a child’s age at diagnosis. In the youngest children diagnosed with type 1 the immune


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destruction of beta cells appeared almost complete, with few cells remaining, but in older children and teenagers far fewer beta cells had been destroyed. The research team found that as many as 50 per cent of the expected beta cells were still present in this latter group - but they weren’t functioning. This leads to the exciting possibility that a therapy could one day be developed to ‘wake up’ these dormant beta cells and restore insulin production.

Also in the UK, the first of 24 type 1 diabetes patients began receiving injections of beta cell peptides in the JDRF-funded MultiPepT1De trial. The clinical trial is primarily testing the safety of the immunotherapy developed by Professor Mark Peakman and his team, working across King’s College London and Guy’s and St Thomas’ Hospitals, but also looking at its efficacy. The team will administer six injections, four weeks apart, to patients with a recent type 1 diagnosis, with the aim of retraining the immune system to ‘get used’ to beta cells and stop identifying them as dangerous.

Treat research

In September 2015, Dr Roman Hovorka of Cambridge University published the results from a trial of his team’s artificial pancreas. There were 33 adults and 25 children who wore the ‘closed loop system’ for 12 weeks, and then wore a sensor augmented pump for 12 weeks as a comparison. The trial found that for adults wearing the artificial pancreas there was an 11 per cent increase in the time spent within target glucose levels, compared to the time they spent using the glucose sensor and pump. The average glucose level was also lower when wearing the artificial pancreas. Among the children and adolescents, the amount of time that night time glucose levels were in target range increased by 25 per cent when wearing the artificial pancreas, compared to the control 12 weeks.

In November, researchers around the world began a £1.7 million project, led by Professor Kumar Sharma at the University of California, to pinpoint the earliest signs of kidney disease in people with type 1. The study, one of the largest of its kind, could lead to new ways to prevent and treat the disease, which is thought to affect between 18 and 30 per cent of people with diabetes (both type 1 and 2) in the UK.

Prevent research

JDRF Chief Scientific Officer Dr Richard Insel published an article in the journal Current Opinion in Endocrinology setting out why it is now conceivable to screen the whole population in early childhood for the risk of type 1 diabetes. An immediate benefit of screening is that if a child is identified as being at high risk, their family can be educated about the signs and symptoms of type 1, which should significantly reduce the number of individuals diagnosed with diabetic ketoacidosis. Screening should also enable researchers to recruit to prevention trials much more quickly.

In September 2015, our researchers at Stanford announced they had used a commonly available drug for gallstones to prevent the onset of type 1 in mice. Working from an earlier finding that people recently diagnosed with type 1 have high levels of a substance called hyaluronan around their beta cells, the team tested a drug, hymecromone, that blocks the production of hyaluronan. Among mice prone to developing diabetes, those given the drug stayed free from type 1 diabetes for at least a year, compared to just weeks for those not given the drug. This is an important finding, indicating this approach may be worth investigating in people with type 1 diabetes.


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New findings from The Environmental Determinants of Diabetes in the Young (TEDDY) study, which we part-funded, were published in Diabetes Care journal in June. The study is looking for environmental triggers for type 1 diabetes in genetically predisposed children. This part of the study focused on children who seem to be on the path to developing type 1 diabetes because they have beta cell autoantibodies in their blood at one test but have no detectable antibodies at the second test (called ‘antibody reversion’). These children had less risk of developing type 1 than children who did not show antibody reversion, but were still at higher risk than children who did not have beta cell antibodies. The study suggests monitoring children with single autoantibodies for at least one year after testing.

Research advocacy

Our three year ambition: By the end of FY17 we will have:

• secured or influenced an additional £2 million per year of research funding from partner organisations directly into type 1 research

• supported researchers to secure EUR15 million for type 1 diabetes research from the EU

• increased patient involvement in clinical trials

• recruited and supported new researchers into JDRF funding mechanisms

• Implemented priority recommendations from our type 1 diabetes research roadmap


During FY16 the total value of funding committed to these and previously established partnership research projects secured or influenced by JDRF research advocacy was £3.4 million.

Highlights of our research advocacy activity

We hosted a Grand Challenges in Autoimmune Diseases workshop with Arthritis Research UK, MRC and Wellcome Trust. This meeting brought 28 individuals involved in research on autoimmune diseases together to define the key challenges where UK researchers might make the biggest impact in understanding, treating and curing autoimmune diseases by working across these areas. This is the first step in driving the formation of a major consortium funding application looking at the common mechanisms of autoimmune diseases including type 1 diabetes.

We also worked with the National Institute for Health Research’s UK Clinical Trials Gateway to improve the ability to search for type 1 diabetes-related trials, as previously all studies were grouped under diabetes.

At the Type 1 Catalyst parliamentary event in April 2016, we launched Type 1 Research Today, an overview and analysis of type 1 research funding in the UK which highlighted the UK’s leading role in global type 1 research. We plan to repeat this analysis every two years to track progress.

https://www.ukctg.nihr.ac.uk/

https://www.ukctg.nihr.ac.uk/


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The event was hosted by Jamie Reed MP, former shadow health secretary who lives with type 1. It was attended by 31 MPs and various senior level research, corporate and policy contacts, as well as Rt Hon Theresa May MP, then Home Secretary, who also has type 1.

Treatment advocacy

Our three year ambition: By the end of FY17 we will have:

• Influenced the progress of all relevant treatments and technology through the National Institute of Health and Care Excellence (NICE) and the Scotland Intercollegiate Guidance Network (SIGN)

• Supported the creation and development of an active patient population engaged in influencing and informing drug and device development, diabetes policy and healthcare professional


• We provided input into three NICE consultations

• We produced one guideline on NICE consultations for people with type 1 diabetes

• We supported one Parliamentary investigation into variations in diabetes care

• We input into two Parliamentary consultations.

Highlights of our treatment advocacy activity

After consulting the sector, NICE published its new clinical guidelines for children and adults with type 1 in August 2015.

We responded to both consultations on those guidelines and were subsequently invited to produce supporter-friendly versions of the guidance by NICE. We led the production of a guide explaining the new NICE recommendations for children - working collaboratively with NICE, Diabetes UK and INPUT. We will be publishing a new version of the guide for adults in 2016.

We also worked closely with NICE in its review of Sensor Augmented Pump Therapy; and on the publication of a Medtech Innovation Briefing.

We contributed to the Accelerated Access Review, an initiative from George Freeman MP, then Minister for Life Sciences, to speed up delivery of new treatments through the NHS. We submitted evidence on delays in pump and continuous glucose monitor access through the All Party Parliamentary Group (APPG) for Diabetes and a separate submission on future proofing for new treatments and technologies in type 1 diabetes in light of clinical trials in artificial pancreas technology, smart insulin and encapsulation.

We have provided input into the Association of Medical Research Charities’ consultation on the Innovative Medicines Bill, a separate government initiative designed to promote sharing of innovation and new use of medicine and technology across the NHS.

With a new government in place in May 2015, we re-established the All Party Group


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for Diabetes with a new chair. We have since had six public meetings with 23 parliamentarians, 15 of our supporters, numerous policymakers and healthcare professionals and celebrity chef Jamie Oliver attended meetings. The report of the meetings, focusing on variations in care, will be published in FY17.

Support and awareness

Our three year ambition: By the end of FY17 we will have reached and helped more people with type 1 diabetes to access better information about their condition, to feel empowered to make decisions, with their health team, about their treatment, and to get involved with the search for the cure.


• Nearly 9,000 support and information packs were given to children and adults living with type 1, and their families

• We launched one new learning resource for schools

• We had nearly 500,000 visits to our website

• We achieved 50 pieces of national media coverage and over 1,000 pieces of regional coverage on type 1 diabetes

• Around 30,000 copies of our Type 1 Discovery magazine were downloaded or sent out.

Highlights of our support and awareness activity

In FY16 we were appointed Blackrock’s charity of the year. The support of the world’s largest asset manager for our community engagement programme has enabled us to increase the support that we can offer to people around the UK by appointing three new community engagement coordinators.

By funding these roles, BlackRock is helping us to expand our outreach and support capabilities. The coordinators, working closely with existing regional staff, are now able to reach and support even more children, adults and families living with type 1 across the country by:

• Delivering more community events, enabling families to gain the support and information they need as well as meeting other families affected by the condition

• Providing more materials and face to face contact to diabetes clinics across the country, so we can support more families from the point of diagnosis and through their journey with the condition

• Increasing support to fundraisers and supporters across the UK as they work to raise vital funds to find a cure for type 1 diabetes.

As well as rapidly expanding our community activities, work has begun on four new online resources and a new community events programme to be launched in FY17.


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Looking ahead

FY17 is the last year in our FY15-17 strategy and we will continue to work towards the objectives set for this strategic period, and further exceed many of them.

Research funding

As previously noted, we achieved our three year goal of increasing our research funding to £2 million a year early. In FY17 we expect to increase this again by a further 10 per cent to over £2.2 million. This will take our research commitment to a level close to our entire income 10 years previously.

Research advocacy

• We will continue to seek out partnership and co-funding opportunities with other research funders including government funding bodies, and including our continued focus on building partnerships in autoimmunity research.

• We will seek to add at least one additional research funding mechanism to support type 1 related research in the UK.

• We will continue to promote type 1 diabetes research, its benefits and impact to at least the top 10 relevant research funders and influencers in the UK.

• We will launch one new clinical engagement mechanism to enable people with type 1 to seek out and join relevant clinical trials in the UK.

• We will work with our colleagues at JDRF International to promote suitable EU funding opportunities to UK researchers and to support them in developing funding bids, for as long as we are members of the EU; aiming to promote at least two opportunities for funding.

Treatment advocacy

• We will produce new information for people about type 1 diabetes treatments and technologies, policies and access.

• We will work with international colleagues and people with type 1 diabetes to campaign for positive NICE and SIGN guidance for all relevant new treatments and technologies.

• We will work with our international colleagues to begin to formulate a global programme for improving access to drugs and technology.

Support and awareness

• We will continue to review our information provision for people with type 1 diabetes and add new programmes, consulting with people with type 1 diabetes about unmet needs.

• We will seek to maintain and increase the media coverage of the issues surrounding type 1 diabetes.

• We will seek to increase our presence in the type 1 diabetes online community.


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Income generation and financial governance

We will continue to run a sound, resource-efficient charity, including:

• Seeking to grow actively fundraised income (excluding legacies) by an average 10 per cent on a rolling three year average basis.

• In line with our reserves policy on page 18, reaching the FY17 year end with between nine and 11 weeks of the subsequent year’s budgeted unrestricted expenditure in free reserves.

Financial Review

Financial summary of the year

This was the third year in a row in which all our budgeted goals were achieved. Our success over this period makes it almost certain that we will achieve all the ambitions stated in our FY15 - FY17 three year strategic plan, of which FY16 was the second year.

Spending on research grew above the 10 per cent target by 11 per cent to £2 million. Total charitable spending grew by 12 per cent to £3.3 million and goals in relation to charitable mission were met. Income was four per cent over budget at £6.1 million, 18 per cent growth on the previous year. As a result, we doubled the budgeted income surplus to £300,000, with strong growth in restricted reserves, and the reserves freely available for our purposes of charitable mission grew from £1 million to £1.1 million. These remained within the Board’s target of nine to 11 weeks of budgeted unrestricted expenditure for the coming year.

Financial review in more detail

Income

Our three year ambition: By FY17 we will have achieved sustainable and growing income of £6 million, growing from £4.7 million in FY14.

Our fundraised income (excluding legacies which can vary considerably from year to year) grew significantly last year, by nearly £1 million from £5.1 million to £6.05 million, an increase of 19 per cent, and five per cent over the budget for the year. This means we have achieved our three year fundraising goal a year early.

This reflects the continued success of our diversified portfolio of fundraising activities since we implemented a growth strategy 10 years ago, and the considerable capability of our fundraising teams. Since then our fundraised income has more than tripled from £1.9 million to £6.05 million. This equates to an average annual growth rate of 12 per cent for each of 10 successive years, a considerable achievement over this extended period of time.

Legacy income was very low during the year at £21,000, so including bank interest and gift in kind income, total income was £6.1 million, an 18 per cent increase on the previous year.


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Expenditure - research and other charitable activities

The amount spent on research activities increased by £200,000 to £2.04 million, growth of 11 per cent. UK and global research achievements during the year are described on pages 8-11. Spending on research advocacy activities was similar to the previous year at £0.33 million. JDRF’s treatment advocacy, support and awareness costs grew in line with income to £0.9 million. Details of the activities and achievements of our work in these areas are described on pages 11-13.

As a result of these new and ongoing initiatives, total spending on charitable objectives increased last year by £350,000 to £3.3 million. Over the ten years identified above, the implementation of our growth strategy has meant spending on charitable objectives has more than tripled from £1 million to £3.3 million.

Expenditure - costs of raising funds

In FY16 the cost of raising funds grew in line with income growth to £2.5 million. As we enter into our 11th consecutive year of investment in income generation and growth, we are confident that in future years more and more funds will continue to be available for our charitable objectives.

JDRF Trading Limited

These accounts consolidate the income, costs, assets and liabilities of JDRF Trading Limited with those of JDRF. This small wholly owned trading subsidiary enables JDRF to take advantage of opportunities to develop revenue from the corporate sector through sponsorship of events and other activities. The company produces separate accounts which can be obtained from JDRF’s Director of Finance and Resources and are summarised in note 11 to these accounts. The trading company’s income for the year was £65,000 (FY15: £115,000), and operating profit for the year (entirely gift aided to JDRF) was £36,000 (FY15: £68,000). This drop in income through trading activities is in the context of the high levels of growth in JDRF’s overall income, and is due to a shift in our corporate fundraising from sponsorship and other trading forms of income to successful income generating partnerships not treated as trading income, of which our partnership with BlackRock in 2016 is a striking example. The corporate team has an income target of which trading income is only a part, but the amount of income gained from corporates through trading activities has been reducing in recent years, despite substantial growth in the total income gained from our corporate supporters.

Balance sheet for the charitable group

Cash and short term deposits at 30 June 2016 totalled £986,000 (FY15: £889,000). JDRF’s policy is to hold its cash in instant access and short term deposit accounts; and is consistent with our reserves policy for the level of funds held.

Debtors at the year end were £746,000 (FY15: £539,000), of which £491,000 related to accrued income. Creditors were £306,000 (FY15: £309,000). The value of fixed assets dropped by £12,000 during the year to £107,000.

Funds

Restricted funds grew over FY16 from £96,000 to £317,000. Almost the entirety of this growth was due to net income received during the year from the BlackRock partnership. Funds held at the year end from this partnership were £200,000. These


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funds, along with other funds to be received in the first half of FY17, are set aside for the non-research charitable purposes agreed with BlackRock. These consist of a three year programme of community engagement with people with type 1 and the health professionals who care for them, and digital developments benefiting the type 1 community.

Unrestricted funds increased from £1.14 million to £1.22 million. Total funds held at the year end increased from £1.24 million to £1.53 million. The impact of these changes on JDRF’s reserves position is discussed under the relevant reserves policy paragraph below.

Governance Information

Public benefit and grant making policy

The directors have taken account of the Charity Commission’s guidance on public benefit in reviewing JDRF’s aims and objectives and planning future activities. JDRF UK aims to fund as much as possible of the globally approved research carried out in the UK. JDRF’s global research department sends details of the UK grant payments due on a monthly basis and JDRF UK will pay those funded by restricted grants and donations and as much of the other grants as funds allow.

Activity in Scotland

JDRF has a presence in Aberdeen and Edinburgh, supported by a very active and capable volunteer group. We are well supported by the public across Scotland, who raise funds on JDRF’s behalf. Our fundraising activities in Scotland delivered £680,000 income during the year. In line with its goal of funding the best research wherever it is taking place in the world, JDRF funds type 1 diabetes research in Scotland and during FY16 funded work at the Universities of Glasgow and Dundee and three projects at the University of Edinburgh.

Financial policies and activities

Reserves policy

The Board is committed to ensuring a sound financial base for JDRF’s work and activities. The Board has adopted this policy which is designed to assist with managing reasonable levels of risk, making funds available for future activities and providing for cashflow movements, while maximising the flow of funds to research.

The Board has recently reviewed the reserves policy with reference to Charity Commission guidelines. The policy incorporates forecasts and scenario analysis, taking as a starting point the lowest point in reserves levels reached in the last few financial years, and takes into account the particular circumstances of JDRF On this basis the Board has determined that it expects JDRF to hold under normal circumstances free reserves at the year end equivalent to between 9 and 11 weeks of unrestricted expenditure budgeted for the following year. Based on the FY17 budget this gives an end of year free reserves target for FY16 of between £1.04 million and £1.27 million. Free reserves at the year end were £1.1 million (unrestricted funds minus fixed assets), and therefore within the Board’s target range for the year.


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Risk management

The Board monitors the principal business and control risks to JDRF, within a control framework. The risk assessment register is reviewed annually by senior management and updated accordingly. Strategies and timelines have been agreed for the management and limitation of identified risks, the highest scoring of which have been reviewed by the Audit and Risk Committee and the Board.

In line with Charity Commission guidance JDRF has adopted a scoring system that gives extra weight to the severity of risks (likelihood x impact + impact). This creates a series of most significant risks for the organisation which in general are unlikely, but the impact of which is likely to be severe. These are risks that we have in common with all other organisations, both inside and outside the charity sector. They are operational risks with the potential for consequential reputational damage.

Though JDRF staff have little contact with vulnerable groups, safeguarding is an issue with potentially severe consequences, and one in which we wish to exercise best practice. The expansion of our community engagement team in 2016 has caused us to review our training in this area, and additional training will be offered to the relevant teams in late 2016/early 2017. A wider safeguarding policy is being addressed, as our reach into the type 1 community develops over time.

A severe IT systems failure would be a significant challenge to deal with, as would a cyber security breach. The former of these is addressed by a series of standard technical solutions. As a further mitigation, the next stage of our business continuity options is to be considered in early 2017. In relation to cyber security issues, JDRF follows SME good practice in relation to protective solutions and systems. In 2017 this issue and potential additional responses will be addressed by the ICT Roadmap prepared by our external support consultancy.

Compliance with legislation and regulations. This area is overseen by the Director of Finance and Resources, and the Head of Finance. Knowledge of changing legislation is achieved through regular updates from a variety of professional advisors, including the Charity Finance Group, our auditors and legal advisors, and other specialist companies and partnerships.

Cashflow sensitivity. This is addressed through a combination of the reserves and investment policies which seek to establish the minimum working capital and potential emergency cash requirements for JDRF, so that the highest proportion possible of funds donated may be used immediately for JDRF’s mission of finding a cure for type 1. The reserves policy includes the guideline that, to the extent possible, unrestricted cash balances of at least £0.5m will be continuously available for potential short term funding requirements. This is monitored carefully, is only not achieved occasionally and for a short time. This guideline was achieved throughout FY16. Rolling 12 month forward looking cashflow projections are updated monthly, and monthly and ultimately annual research funding decisions are made in light of these.

Financial controls review

During the year the finance team updated its review of JDRF’s internal financial controls and fraud risks, using the template of the Charity Commission’s CC8 guidelines on Internal Finance Controls for Charities. This thorough exercise concluded that JDRF’s internal controls and processes are appropriate to its activities and that risks are mitigated appropriately and proportionately.


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Structure, Governance and Management

JDRF is a charitable company limited by guarantee incorporated on 6 November 1986 and registered as a charity on 14 May 1987. The objects and powers of the charitable company are set out in, and governed by, its Articles of Association. New Articles of Association are due to be adopted at the company’s 2017 Annual General Meeting, reflecting up to date law and practice.

JDRF is governed by a Board of Directors, the members of which are also the trustees of the charity for the purposes of charity law, which meets at least five times a year. The Board sets the strategic goals of JDRF, reviews the pursuit of charitable objectives, establishes policy and monitors financial status and compliance with legal requirements. The Chief Executive assists the Board in these activities and together with the staff is responsible for the implementation of the charity’s strategic plan and the day to day running of JDRF.

The Board of Directors has established three committees that report and are accountable to the Board – the Executive Committee, the Succession Committee and the Audit and Risk Committee – to assist in the efficient execution of its responsibilities and duties.

The Executive Committee oversees many of JDRF’s day to day operations and makes recommendations on substantive issues to the Board of Directors. The Executive Committee meets five times a year, and is composed of the Chairman, Treasurer, at least one other Director, and is attended by JDRF’s senior management team. The Succession Committee (made up of at least three current or former Directors) meets as needed and is responsible for identifying and recruiting new Directors and ensuring retention and development of senior level volunteers. The Audit and Risk Committee is responsible for JDRF’s compliance with statutory reporting, managing the relationship with the external auditor, reviewing the draft accounts and accompanying report, JDRF’s risk management and a range of financial controls and processes. This committee is made up of the Treasurer and two other Directors, is attended by the Director of Finance and Resources and Head of Finance and meets two or three times a year.

Appointment of Directors

All potential Directors of JDRF go through a nomination process before they join the Board. This is within the remit of the Succession Committee which has the goal of identifying and meeting individuals who have the necessary skills, experience and leadership attributes that will further JDRF’s mission to find the cure for type 1 diabetes. To be considered for recommendation, candidates must confirm that they will accept the expectations of the role which, in addition to statutory criteria, include actively participating in at least one fundraising event per year and serving on at least one committee or group.

Directors are appointed by the Board but must be re-appointed by members at the first annual general meeting following their appointment. Directors serve an initial term of three years but may be reappointed for a further term of three years.

Induction of new Directors

Before their first Board meeting, each new Director has an induction meeting with the Chief Executive and with at least one other Director covering role, responsibilities,


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expectations and highlighting current governance and strategic issues. They are given an overview of organisational history and current activities; including organisational structure, the portfolio of charitable and fundraising activities, financial goals, controls and performance. After appointment, all new Directors have induction meetings with the members of JDRF’s senior management team.

At the start of their tenure new Directors are given an induction manual including: (a) the most recent annual report and accounts; (b) memorandum and articles of association; (c) Charity Commission publications “The essential trustee” and “Hallmarks of an Effective Charity”; and a range of internal documents and publications.

Training of Directors

Collective and individual training on issues of strategy and governance is offered to Directors.

Remuneration of key management personnel

The executive team consists of the chief executive and four director of department roles: mission; research partnerships; fundraising and finance and resources, as detailed in the reference section on page 24.

JDRF is committed to being open and transparent about the work that we do to achieve our mission. JDRF’s approach to pay and reward is that this should contribute to enabling us to recruit and retain the skilled staff we need to create a world without type 1 diabetes. We believe that it is reasonable for the charity sector to pay a fair salary for the skills and the experience needed to run a professional, cost-effective and successful charity. All JDRF staff, including the senior management team, are eligible for an annual cost of living pay award, and a progression pay scheme that rewards staff who make a significant contribution to JDRF. The amount paid to senior staff reflects the market for jobs in comparable organisations, the performance of the organisation and the skills and contribution of the individual performing the role. Benefits for senior staff are in line with benefits available to all staff and include a matched pension contribution of 3% of salary, which increases with service as detailed on page 35. Salaries of JDRF’s senior staff are reviewed biennially against the market by a specialist pay and reward consultancy, and are set by the Board’s Executive Committee.

Volunteers

Volunteers play a vital role at JDRF. During the year volunteers served on development groups within the regions and in groups supporting national fundraising teams and activities. All Board Directors and advisors from the scientific community give their time free of charge. In addition, volunteers help JDRF with many aspects of our work, especially with fundraising events and with office activities. In total over 600 individuals volunteered to support JDRF, and we are extremely grateful to all of these dedicated supporters.

Statement of Directors’ responsibilities

The Directors are responsible for preparing the trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).


22

Company law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and the group and of the incoming resources and application of resources, including the income and expenditure, of the group for that period.

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

• Select suitable accounting policies and then apply them consistently;

• Observe the methods and principles in Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the United Kingdom and Republic of Ireland (FRS 102);

• Make judgments and estimates that are reasonable and prudent;

• State whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

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

The Directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Each of the Directors confirms that:

• So far as the Director is aware, there is no relevant audit information of which the company’s auditor is unaware; and

• The Director has taken all the steps that he/she ought to have taken as a director in order to make himself/herself aware of any relevant audit information and to establish that the company’s auditor is aware of that information.

This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006.

Members of the company guarantee to contribute an amount not exceeding £10 to the assets of the company in the event of winding up. The total number of guarantees at 30 June 2016 was 27. The Directors have no beneficial interest in the company but as members are entitled to voting rights.

Auditors

Buzzacott was reappointed auditors by the Board for the year ended 30 June 2017 and Buzzacott has expressed its willingness to act in that capacity.

Approved by the Directors on 12 December 2016 and signed on their behalf by

James CrippsChairman


24

President Her Royal Highness The Duchess of Cornwall

Directors The Directors, who are also trustees under charity law, who served during the year up to the date of this report were as follows:

Dominic ChristianJames Cripps (Chairman from September 2016)Ian Edwards (retired as Director and Chairman in September 2016)Sarah GordonKaren Loumansky James LurieEleanor Mills Dr Roger Morton Sue Whelan Tracy Ian Schneider (Treasurer from February 2016)Steven TurnbullGraham White Michael Yardley (retired as Director and Treasurer February 2016)

Company secretary Jonathan Taylor

Executive management team

Chief ExecutiveDirector of Fundraising

Director of Research Partnerships Director of Mission

Director of Finance and Resources

Karen AddingtonDean BentonRachel ConnorSarah JohnsonJonathan Taylor

Registered office 17/18 Angel GateCity RoadLondonEC1V 2PT

TelephoneFax

Email

0207 713 20300207 713 [email protected]

Website jdrf.org.uk

Social media JDRF UK on Twitter, Facebook, LinkedIn and Instagram

Company registration number 02071638 (England and Wales)

Charity registration number 295716 (England)SC040123 (Scotland)

Reference and administrative details

https://twitter.com/JDRFUK

https://www.facebook.com/JDRFUK/

https://www.linkedin.com/company/jdrf-uk

https://www.instagram.com/jdrf_uk/


25

Regional Offices JDRF Scotland: Aberdeen Office

t: Aberdeen: 01224 248 677t: Central Scotland: 07790 572188e: [email protected]

JDRF North: Leeds Office

t: 0113 4576 425e: [email protected]

JDRF Midlands, West and Wales: Birmingham Office

t: 0121 685 7102e: [email protected]: [email protected]: [email protected]

JDRF South, East and London: London Office


JDRF South, East and London: Southampton Office


Auditor Buzzacott LLP130 Wood StreetLondonEC2V 6DL

Bankers Barclays Bank plcMarble Arch Corporate Banking GroupPO Box 32016LondonNW1 2ZH

Independent auditor’s report Year to 30 June 2016

26

Independent auditor’s report to the members of Juvenile Diabetes Research Foundation Limited

We have audited the financial statements of Juvenile Diabetes Research Foundation Limited for the year ended 30 June 2016 which comprise the consolidated statement of financial activities, the consolidated and parent charity balance sheets, the principal accounting policies and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS102, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland.

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company’s trustees, as a body, in accordance with Section 44 (1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company’s members and trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of the directors and the auditor

The directors are also the trustees of the charitable company for the purposes of charity law. As explained more fully in the statement of directors’ responsibilities statement set out in the directors’ report, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

We have been appointed as auditor under Section 44 (1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with regulations made under those Acts.

Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board’s (APB’s) Ethical Standards for Auditors.

Scope of the audit of the financial statements

An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the group’s and parent charitable company’s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the directors; and the overall presentation of the financial

Independent auditor’s reportYear to 30 June 2016


27

statements. In addition, we read all the financial and non-financial information in the directors’ report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.

Opinion on financial statements

In our opinion the financial statements:

• Give a true and fair view of the state of the group’s and the parent charitable company’s affairs as at 30 June 2016 and of the group’s income and expenditure for the year then ended;

• Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• Have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

Opinion on other matters prescribed by the Companies Act 2006

In our opinion the information given in the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements. Also in our opinion, in light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have identified no material misstatements in the directors’ report.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

• The group has not kept adequate accounting records or returns adequate for our audit have not been received from branches not visited by us; or

• The group’s financial statements are not in agreement with the accounting records; or

• Certain disclosures of directors’ remuneration specified by law are not made; or

• We have not received all the information and explanations we require for our audit.

• The directors were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report.

Edward Finch, Senior Statutory Auditor for and on behalf of Buzzacott LLP, Statutory Auditor130 Wood StreetLondonEC2V 6DL


28

Financial statements

Consolidated statement of financial activities Year to 30 June 2016

Notes

Unrestrictedfunds

£

Restrictedfunds

£

Total2016

£

Restated Total 2015

£

Income and expenditure

IncomeDonations and legacies 1 2,662,238 611,345 3,273,583 2,256,077

Other trading activities 2 2,170,773 96,621 2,267,394 2,473,760

Interest receivable 6,702 — 6,702 3,934

Charitable activities 3

- Research grants — 339,494 339,494 257,994

- Support and awareness — 213,500 213,500 190,660

Total income 4,839,713 1,260,960 6,100,673 5,182,425

ExpenditureCost of raising funds

- Costs of raising funds 2,413,626 90,439 2,504,065 2,105,020

- Costs of trading activities 27,961 — 27,961 46,737

Charitable activities

- Research funding 1,345,114 691,363 2,036,477 1,839,705

- Research advocacy 325,598 — 325,598 321,379

Subtotal research expenditure 1,670,712 691,363 2,362,075 2,161,084

- Support and awareness 653,787 258,604 912,391 769,555

Subtotal charitable activities 2,324,499 949,967 3,274,466 2,930,639

Total expenditure 4 4,766,086 1,040,406 5,806,492 5,082,396

Net income and netmovement in funds 6 73,627 220,554 294,181 100,029

Reconciliation of funds

Fund balances brought forward at 1 July 2015 1,142,548 95,980 1,238,528 1,138,499

Fund balances carried forward at 30 June 2016 16 1,216,175 316,534 1,532,709 1,238,528

All of the above results are derived from continuing activities.

All recognised gains and losses are included in the above statement of financial activities.

All interest receivable was unrestricted in 2015.


29

Balance sheets 30 June 2016

Group Charity

Notes

2016 £

Restated2015

£2016

£

Restated2015

£

Fixed assets

Tangible assets 9 107,101 119,170 107,101 119,170

Investments 10 — — 10,001 10,001

107,101 119,170 117,102 129,171

Current assets

Debtors 13 746,107 539,018 783,607 592,655

Cash at bank and in hand 985,726 889,306 928,542 794,823

1,731,833 1,428,324 1,712,149 1,387,478

Liabilities

Creditors: amounts falling due

within one year 14 306,225 308,966 296,542 278,121

Net current assets 1,425,608 1,119,358 1,415,607 1,109,357

Total net assets 15 1,532,709 1,238,528 1,532,709 1,238,528

Represented by:

Funds and reserves 16

Restricted funds 316,534 95,980 316,534 95,980

Unrestricted funds

- General funds 1,216,175 1,142,548 1,216,175 1,142,548

1,532,709 1,238,528 1,532,709 1,238,528

Approved by the Directors on 12 December 2016 and signed on their behalf by:

James Cripps Ian Schneider

Chairman Treasurer

Company Registration Number: 02071638 (England and Wales)


30

Consolidated statement of cash flows 30 June 2016

Notes

2016 £

Restated2015

£

Cash flows from operating activities:

Net cash provided by operating activities A 102,018 191,529

Cash flows from investing activities:

Interest received 6,702 3,934

Purchase of tangible fixed assets (12,300) (129,317)

Net cash used in investing activities (5,598) (125,383)

Change in cash and cash equivalents in the year 96,420 66,146

Cash and cash equivalents at 1 July 2015 B 889,306 823,160

Cash and cash equivalents at 30 June 2016 B 985,726 889,306

Notes to the statement of cash flows for the year to 30 June 2016.

A Reconciliation of net movement in funds to net cash provided by (used in) operating activities

2016 £

2015

£

Net movement in funds (as per the statement of financial activities) 294,181 100,029

Adjustments for:Depreciation charge 24,369 21,908

Interest receivable (6,702) (3,934)

(Increase) decrease in debtors (207,089) 27,532

(Decrease) increase in creditors (2,741) 45,994

Net cash provided by operating activities 102,018 191,526

B Analysis of cash and cash equivalents

2016 £

2015

£

Cash at bank and in hand 985,726 889,306

Total cash and cash equivalents 985,726 889,306


31

Principal accounting policies Year to 30 June 2016

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.

Basis of accounting

These financial statements have been prepared for the year to 30 June 2016.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these financial statements.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102) issued on 16 July 2014, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The date of transition to Charities SORP FRS 102 was 1 July 2014. The end of the accounting reference date in respect to the charity’s last annual financial statements determined in accordance with the previous financial reporting framework was 30 June 2015. This is the first set of the charity’s financial statements prepared in accordance with the Charities SORP FRS 102.

The charity constitutes a public benefit entity as defined by FRS 102.

The financial statements are presented in sterling and are rounded to the nearest pound.

Reconciliation with previous Generally Accepted Accounting Practice

In preparing the financial statements, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 a restatement of comparative items was needed.

In accordance with the requirements of FRS 102 a reconciliation of the opening balances and net income for the year is provided with the net income under previous GAAP adjusted for the recognition of an annual leave accrual on transition:

Reconciliation of charity’s funds:2015

£

Net funds as previously stated at 30 June 2015 1,285,837

Effect of transition – annual leave accrual (47,309)

Net funds as restated at 30 June 2015 1,238,528

Reconciliation of reported income:2015

£

Net income as previously stated 106,329

Effect of transition – annual leave accrual (6,300)Net income as restated 100,029


32

In addition, a presentational adjustment has been made to reanalyse expenditure for the year ended 30 June 2015 to accord with the format prescribed in the Charities SORP FRS 102. Specifically, governance costs which were previously reported as a separate line of expenditure within the statement of financial activities are now allocated to expenditure on raising funds and charitable activities.

Critical accounting estimates and areas of judgement

Preparation of the financial statements requires the trustees and management to make significant judgements and estimates.

The items in the financial statements where these judgements and estimates have been made include:

• Assessing the probability of receipt of legacy income;

• Allocation of support and governance costs; and

• Estimating the useful economic life of tangible fixed assets for the purposes of determining a depreciation rate.

Assessment of going concern

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The trustees have made this assessment in respect to a period of one year from the date of approval of these financial statements.

The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.

Income recognition

Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably and it is probable that the income will be received.

Income received by way of subscriptions, donations and gifts to the charity is included in full in the statement of financial activities when receivable. Donations are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Donated services and facilities provided to the charity are recognised in the period when it is probable that the economic benefits will flow to the charity, provided they can be measured reliably. This is normally when the service is provided. An equivalent amount is included as expenditure.

Donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain facilities or services of equivalent economic benefits on the open market.


33

Legacies are included in the statement of financial activities when the charity is entitled to the legacy, the executors have established that there are sufficient surplus assets in the estate to pay the legacy, and any conditions attached to the legacy are within the control of the charity.

Entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, but the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title of the asset having being transferred to the charity.

Revenue grants are credited to the statement of financial activities when received or receivable whichever is earlier.

Where unconditional entitlement to grants receivable is dependent upon fulfilment of conditions within the charity’s control, the incoming resources are recognised when there is sufficient evidence that conditions will be met. Where there is uncertainty as to whether the charity can meet such conditions the incoming resource is deferred.

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

Resources expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis.

Expenditure is allocated to a particular activity where the cost relates directly to that activity. Expenditure includes attributable VAT which cannot be recovered. The cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central functions, is apportioned on the basis of an estimate, based on staff time, of the amount attributable to each activity.

Premises and office costs are allocated based on the amount of floor space attributable to each activity, except for regional offices which are split 75% cost of generating funds, 5% research advocacy and 20% information/education/awareness.

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

The costs of raising funds relate to the costs incurred by the group in raising funds for the charitable work.

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable activities. Where such information about the aims, objectives and projects


34

of the charity is also provided to potential donors, activity costs are apportioned between fundraising and charitable activities.

Grants payable are charged to the statement of financial activities in the year in which agreement to pay has been reached with JDRF’s global research department. Provision is made for grants agreed and approved but unpaid at the period end.

Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £1,000 including irrecoverable VAT.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Leasehold improvements Over the lifetime of the lease

Computer equipment 5 years

Fixtures and fittings 5 years

Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value or value in use.

The depreciation rates were reviewed in the year ended 30 June 2015, and as a result, the depreciation rate for computer equipment was revised from 3 years to 5 years.

Investments

Investments held as fixed assets comprise shares in the charity’s subsidiary trading company and are stated at cost.

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition.

Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.


35

Leases

Rentals payable under operating leases, where substantially all the risks and rewards of ownership remain with the lessor, are charged to the statement of financial activities over the life of the lease using the straight line basis.

Pension scheme

JDRF contributes to staff group personal pension plans. The pension charge represents payments to the scheme which are charged to the statement of financial activities in the period to which they relate. Employer contributions are 3% after 3 months, 5% after 2 years and 7% after 4 years of service. Using a ‘Salary Sacrifice Scheme’, employees may additionally sacrifice up to 10% of gross salary to their pension. The charitable company has no liability under the scheme other than for the payment of these contributions.

Fund accounting

Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria is identified to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the directors for particular purposes.

Balance sheet assets/liabilities in foreign currencies are translated at the prevailing exchange rate at the balance sheet date. Transactions are translated at the transaction date exchange rate. Any exchange rate differences arising are credited or charged to the statement of financial activities.

1. Incoming resources from charitable activities

2. Income from other trading activities

Notes to the financial statements Year to 30 June 2016

Unrestricted £

Restricted£

2016Total

£

2015Total

£

Donations 1,370,715 611,345 1,982,060 1,213,095Legacies 21,079 — 21,079 39,320Third party fundraising 1,270,444 — 1,270,444 1,003,6622016 Total 2,662,238 611,345 3,273,583 2,256,077

2015 Total 2,101,513 154,564 2,256,077

Unrestricted £

Restricted£

2016Total

£

2015Total

£

Donations 275,868 — 275,868 294,250Running and challenge events 1,246,284 — 1,246,284 1,212,725Trading activities 85,034 — 85,034 132,195Events and other fundraising activities 531,587 96,621 628,208 785,617Rental/other income 32,000 — 32,000 48,9732016 Total 2,170,773 96,621 2,267,394 2,473,760

2015 Total 2,440,241 33,519 2,473,760


36

4. Total expenditure

2016Unrestricted

£

2016Restricted

£

2016Total

£

2015Unrestricted

£

2015Restricted

£

Restated2015

Restricted£

Costs of raising funds

- Costs of raising funds 2,413,626 90,439 2,504,065 2,105,020 — 2,105,020

- Costs of trading activities 27,961 — 27,961 46,737 — 46,737

Charitable activities

- Research funding 1,345,114 691,363 2,036,477 1,254,225 585,480 1,839,705

- Research advocacy 325,598 — 325,598 321,379 — 321,379

- Support and awareness 653,787 258,604 912,391 603,894 165,661 769,555

Total 4,766,086 1,040,406 5,806,492 4,331,255 751,141 5,082,396

3. Income from charitable activities2016Total

Restricted£

2015Total

Restricted£

Research GrantsThe Alan & Babette Sainsbury Charitable Fund 55,000 —

The Childwick Trust 10,500 —

The Mary Kinross Charitable Trust 100,000 100,000

CHK Charities Ltd — 10,000

The Hugh Fraser Foundation — 10,000

The Charles Wolfson Charitable Trust 85,733 86,125

The Garfield Weston Foundation — 20,000

The Robert Barr Charitable Trust — 10,000

Diabetes Federation of Ireland 7,515 6,452

Masonic Charitable Foundation 50,000 —

Sugar Free 20,000 —

Donations £5,000 or less 10,746 15,417

339,494 257,994

Support and awareness The Monument Trust 173,000 190,000

Beefy’s Charitable Foundation 40,000 —

Donations £5,000 or less 500 660

213,500 190,660

Total 552,994 448,654


37

2. Total resources expended

Not

e

Cost

of

gene

rati

ng

fund

s £

Rese

arch

fu

ndin

g £

Rese

arch

ad

voca

cy £

Supp

ort a

nd

awar

enes

s £

Gov

erna

nce

cost

s £

Supp

ort

cost

s £

2016

To

tal £

Rest

ated

20

15

Tota

l £

Sta

ff c

osts

71,

033,

188

208

,775

188

,146

426,

499

117,

830

227,

298

2,20

1,73

61,

883

,490

Oth

er s

taffi

ng c

osts

32,3

151,

320

11,3

108

80

251

36,8

388

2,91

411

1,91

2

Offi

ce c

osts

117,

517

12,0

4217

,18

432

,236

2,16

732

,393

213,

539

174,

707

Rent

and

pre

mis

es12

6,20

117

,126

22,5

9941

,092

5,19

046

,709

258

,917

203,

067

Dep

reci

atio

n—

——

——

24,3

6924

,369

21,9

08

Info

rmat

ion

tech

nolo

gy c

osts

18,7

823,

263

3,95

56,

426

989

8,8

9842

,313

39,9

33

Dir

ect f

undr

aisi

ng c

osts

- Don

atio

ns a

nd a

ppea

ls13

7,07

8—

——

——

137,

078

113,

756

- Thi

rd p

arty

don

atio

ns65

,976

——

——

—65

,976

10,8

27

- Wal

k to

Cur

e D

iabe

tes

88

,963

——

——

—8

8,9

6361

,18

8

- Run

ning

and

cha

lleng

e ev

ents

274,

259

——

——

—27

4,25

931

4,55

2

- Tra

ding

act

ivit

ies

10,7

33—

——

——

10,7

3310

,870

- Eve

nts

and

othe

r fun

drai

sing

act

ivit

ies

338

,972

——

——

—33

8,9

7223

2,92

3

Subt

otal

dir

ect f

undr

aisi

ng c

osts

915,

981

——

——

—91

5,98

174

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——

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35,8

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Supp

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——

286,

354

——

286,

354

277,

742

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653,

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653,

482

557,

180

2,24

3,98

41,

979,

272

273,

145

793,

487

141,

099

376,

505

5,8

06,4

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2,02

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325,

598

912,

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2015

2,15

1,75

71,

839,

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321,

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769,

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6


38

Principal investigator

Unrestricted

£

Restricted

£

Total £

California Institute for Biomedical Research

A Glucose-responsive Insulin Based on Boronic Acid-Containing Unnatural Amino Acids

Matthew Tremblay — 7,183 7,183

Cardiff University Developing and optimizing pHLA multimers as a biomarker for T1D

Andrew Sewell — 14,419 14,419

Cardiff University MonoPepT1De trial Colin Dayan 7,944 2,571 10,515

Imperial College London An incident and high risk type 1 diabetes research cohort - ADDRESS-2 - After Diabetes Diagnosis Research Support System-2

Desmond Johnston 14,150 158,580 172,730

Imperial College London MonoPepT1De trial Mark Kalisz — 34,340 34,340

King’s College London Islet encapsulation for transplantation: nano- versus micro-encapsulation

Mark Peakman 10,736 — 10,736

King’s College London Identifying a signature for islet-specific IL-10 secreting (ISIS) Tregs

Peter Jones 11,729 1,272 13,001

King’s College London Understanding T cell migration via inflamed endothelium in Diabetes Type 1

Tim Tree 88,885 — 88,885

Queen’s University Belfast Targeting STAT3 for the management of diabetic retinopathy

Heping Xu 58,996 43,309 102,305

Queen’s University Belfast Harnessing vascular stem cells to model and treat diabetic retinopathy

Reinhold Medina 85,733 10,332 96,065

University of Bristol What protects auto antibody positive T1D relatives who do not progress?

Kathleen Gillespie — 21,090 21,090

University of Bristol JDRF International Clinical Sites - UK Polly Bingley 34,687 102,484 137,171

University of Cambridge Adolescent Type 1 Diabetes Cardio-Renal Protection Study

David Dunger — 95,233 95,233

University of Cambridge Tracking of risk for diabetic nephropathy and cardiovascular disease in young people with type 1 diabetes recruited to the AdDIT study

David Dunger 20,000 80,173 100,173

University of Cambridge JDRF/ Wellcome Trust Diabetes and Inflammation Laboratory

John Andrew Todd 144,967 8,817 153,784

University of Cambridge Overnight closed loop in sub-optimally controlled type 1 diabetes under free living conditions

Roman Hovorka 41,000 104,637 145,637

University of Dundee Extreme Phenotypes relevant to Diabetic Complications in Type 1 Diabetes

Helen Colhoun — 184,457 184,457

University of Dundee Extreme Phenotypes relevant to Diabetic Complications in Type 1 Diabetes

Helen Colhoun 1,000 33,071 34,071

University of Dundee Using gene-phenotype studies to identify early disease biomarkers for T1D

Helen Colhoun 3,741 — 3,741

University of Exeter Potential mechanisms of persistent C-peptide in Type 1 Diabetes

Andrew Hattersley — 103,494 103,494

University of Manchester BIRAX Israel

Deciphering the epigenome of human beta cells during development and in pathology

Neil Hanley 77,939 4,172 82,111

University of Oxford Role of the autoantigen Tetraspanin-7 in Type 1 diabetes

Kerry McLaughlin 10,000 52,521 62,521

University of Oxford Islets For Research- JDRF funded Investigators

Paul Johnson 41,975 96 42,071

Imperial College London The role of novel epigenetic regulators in beta cell development and growth

Mark Kalisz — 15,000 15,000

2016 Total funds 653,482 1,077,251 1,730,733

2015 Total funds 557,180 1,017,221 1,574,401

5. Research grants


39

This is stated after charging:

2016 £

2015

£

Depreciation 24,369 21,908Directors’ indemnity insurance 853 781Auditor’s remuneration (excluding VAT)- Audit 10,800 9,500- Under (over) accrual for previous year (300) 200Operating lease rentals- Property 156,683 115,725

Staff costs were as follows:

2016 £

2015 £

Salaries and wages 1,937,271 1,652,295Social security costs 185,309 161,284Pension contributions 79,156 69,911

2,201,736 1,883,490

One employee earned between £90,000 and £100,000 during the year (2015 - one) and three employees between £60,000 and £70,000 (2015 - one). The pension contributions paid during the year for these employees totalled £36,143 (2015 - £15,789).

The average weekly number of employees (on an average head count and a full time equivalent basis) carrying out JDRF’s activities was as follows:

Head count 2016

Head count2015

FTE2016

FTE2015

Raising funds 29 25 27.4 22.9Charitable activities 24 20 22.0 18.6Central support 11 9 8.6 7.9

64 54 58.0 49.4

The key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis comprise the trustees, and the executive management team. The total remuneration (including taxable benefits but excluding employer’s pension contributions) of the key management personnel for the year was £326,873 (2015 - £295,544).

No trustees (2015 – none) received any remuneration for their services as a trustee. Expenses of £1,484 (2015 - £nil) were reimbursed to two trustees.

6. Net income (expenditure) before transfers

7. Staff costs and numbers and remuneration of key management personnel

8. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. The charity’s trading subsidiary JDRF Trading Limited gift aids available profits to the charity.


40

9. Tangible fixed assets

Leasehold improvements £

Computer equipment £

Fixtures and fittings £

Total

£Cost At 1 July 2015 98,661 55,300 4,914 158,875Additions in the year — 10,038 2,262 12,300At 30 June 2016 98,661 65,338 7,176 171,175

Depreciation At 1 July 2015 9,866 28,743 1,096 39,705Charge for the year 9,866 13,068 1,435 24,369At 30 June 2016 19,732 41,811 2,531 64,074

Net book valueAt 30 June 2016 78,929 23,527 4,645 107,101At 30 June 2015 88,795 26,557 3,818 119,170

2016 £

2015 £

Investment in unquoted subsidiary undertaking at cost 10,001 10,001

The charitable company owns the whole of the issued ordinary share capital of JDRF Trading Limited, a company registered in England on 17 December 2007. The subsidiary is used for non-primary purpose trading activities. All activities have been consolidated on a line by line basis in the statement of financial activities. Available profits are gift aided to the charitable company. A summary of the results of the subsidiary is shown below:

2016 £

2015 £

Turnover 64,837 114,587Cost of sales — —Gross profit 64,837 114,587

Administrative expenses (28,410) (46,737)Operating profit 36,427 67,850

Taxation — —Profit on ordinary activities after taxation 36,427 67,850

Gift aid to parent undertaking (36,427) (67,850)Profit (loss) for financial year — —

The aggregate of the assets, liabilities and funds was:

2016 £

2014 £

Assets 70,284 131,583Liabilities (60,283) (121,582) Funds 10,001 10,001

10. Investments

11. Subsidiary undertaking


41

The parent undertaking’s gross income and the results for the year are disclosed as follows:

2016 £

2015 £

Gross income 6,035,836 5,067,838Results for the year 257,754 32,179

Group Charity2016

£2015

£2016

£2015

£Trade debtors 42,399 105,638 29,299 68,538Other debtors 4,611 19,426 4,611 19,426Amounts due from subsidiary — — 50,600 90,737Prepayments 207,771 176,210 207,771 176,210Accrued income 491,326 237,744 491,326 237,744

746,107 539,018 783,607 592,655

Group Charity2016

£2015

£2016

£2015

£Trade creditors 46,026 60,085 46,026 60,085Taxation and social security 52,615 58,527 50,432 47,682Other creditors 24,467 13,703 24,467 13,703Rent free benefit over lease period 46,582 22,214 46,582 22,214Deferred income 12,000 78,124 4,500 58,124Accrued costs 124,535 76,313 124,535 76,313

306,225 308,966 296,542 278,121

Included in deferred income are amounts received in advance for events and sponsorship as set out below:

Group

2016 £

Charity2016

£

Deferred income brought forward at 1 July 2015 78,124 58,124

Additional income deferred in year 12,000 4,500

Brought forward funds released in year (78,124) (58,124)

Deferred income carried forward at 30 June 2016 12,000 4,500

Restricted

funds £

General funds

£

Total funds

£

Tangible fixed assets 3,393 103,708 107,101Net current assets 313,141 1,112,467 1,425,608Net assets at the end of the year 316,534 1,216,175 1,532,709

12. Parent undertaking

13. Debtors

14. Creditors: amounts due within one year

15. Analysis of group net assets between funds


42

Charity:

Restricted funds

£

General funds

£

Total funds

£

Tangible fixed assets 3,393 103,708 107,101Investments — 10,001 10,001Net current assets 313,141 1,102,466 1,415,607Net assets at the end of the year 316,534 1,216,175 1,532,709

At 1 July 2015

£

Incoming resources £

Outgoing resources £

At 30 June 2016

£Restricted funds Research funding 70,980 725,703 691,363 105,320Information/Education/Awareness 25,000 535,257 349,043 211,215Total restricted funds 95,980 1,260,960 1,040,406 316,534

Unrestricted fundsGeneral funds 1,142,548 4,839,713 4,766,086 1,216,175

Total funds 1,238,528 6,100,673 5,806,492 1,532,709

Purpose of restricted funds

Restricted funds are received for the purpose of carrying out particular activities; usually research grant funding, support and awareness and advocacy activities. They either directly contribute to these activities, or are applied to core costs related to information/education about type 1 diabetes and the related dissemination of research information.

The group and charity had future minimum commitments at the year end under operating leases as follows:

Payments which fall due:

2016Land and buildings

£

2015Land and buildings

£

Less than one year 162,333 162,333

Between two and five years 581,112 586,612

Over five years 777,402 890,327

Trustee expenses for the year totalled £1,484 (2015 - £nil) for two trustees and charitable donations received from trustees totalled £83,002 (2015 - £122,032).

There were no other transactions with related parties which required disclosure during the year (2015 - none).

16. Movement in funds

17. Operating lease commitments

18. Related party transactions

Thank youBoard Directors Dominic Christian James Cripps – Chairman (from September 2016)Ian Edwards - Chairman (to September 2016)Sarah Gordon Karen Loumansky James M. Lurie Eleanor Mills Dr Roger Morton Ian Schneider – Treasurer (from February 2016)Steven Turnbull Sue Whelan Tracy Graham White Michael Yardley - Treasurer (to February 2016)

Trusts and Companies Abbott Diabetes Care AIG The Alan & Babette Sainsbury Charitable FundMiss A M PilAnimas Ascensia DiabetesThe Barbour FoundationBeefy’s Charity Foundation BioIndustry AssociationBlackRockBlossoms Healthcare The Bothwell Charitable Trust Chapman Charitable Trust The Charles Littlewood Hill TrustThe Charles Wolfson Charitable TrustThe Childwick TrustDextro-Energy Diabetes Federation of Ireland DunnhumbyEli Lilly Diabetes The Elizabeth and Prince Zaiger Charitable Trust First Island Trust Ford of Britain The George, John and Sheila Livanos Charitable TrustGeary’s BakeryGuy Butler LtdThe Henry Lumley Charitable Trust ING DirectJCA GroupThe James Weir FoundationLifescan Lord Banby’s FoundationThe Lord Belstead Charitable Settlement Macquarie Group FoundationThe Mary Kinross Charitable TrustMasonic Charitable FoundationMedtronic LtdMichael Cornish Charitable Trust The Millichope FoundationThe Monument Trust Moondance FoundationThe Moore TrustPF Charitable TrustR & H Trust CoNovartis Novo Nordisk Next PlcOnesie WarehouseRoche Diagnostics Sanofi Diabetes The Shoot Charitable TrustSir Samuel Scott of Yews Trust Slaughter & May Sugar Free Syncona Ltd

The Swire Charitable TrustTay Charitable TrustThe Tobit TrustUKH FoundationWorkman LLPYour World Recruitment

Challenge Events Committee Members Rupert Cecil Anthony Reeves Jonny Henderson Humphrey Walters Ashley Head John Offenbach Bruce Steinberg Julia Noble Lyndon WoodJeff Astle

Special Thanks Mandy AitchisonDebbie Atkins Nicola and Mark ShawFay Bancewicz Viggo Birch Sandy and Shonagh Brown Peter Bruce Alasdair Cowie Douglas Cairns Lord John Cope Philip Dunne MP Bill Dunnett Phil Dymond Gerard Eadie CBE Vanessa Easlea Sir Arnold Elton Rachel Engel Jeanette ForbesJoe Greenwell Keith Hague Tjalling HalbertsmaSir Michael HirstRob Hersov Dean HorridgeScott Jackson Peter Jones Peter KilbySteve Lapthorn Colin and Lisa Lawson Sarah LiveingWayne Leamon Alex Lumby Ian MacLellanNeil and Linzie McDonald Lewis McDonald MSP Emma Harper MSP Oliver RifkindDerek Smith David Stewart MSP Kevin Stewart MSP Robert SmithClare Adamson MSPAnas Sarwar MSPRt Hon Nicola Sturgeon MSP, First Minister of ScotlandRt Hon Theresa May MP, Prime MinisterRt Hon Keith Vaz MPJamie Reed MPJonathan ValabhjiPartha KarDr Tim TreeProfessor Mark PeakmanProfessor Lucy WalkerHelen Weir Laura and Gavin Wiseman Susan WallsJoanne Black

Karl BeetsonIsabel ChevisGemma RobinsonJenny Carr

Our Patrons IIan and Helen Adam-SmithJack AttasSimon and Marisa BakerTim and Sarah BartleetAmanda BedboroughTim BednallKip BertramJ BidwellSir Ian and Kathy BothamBecky Botham-ArmstrongRoy and Diana BrimblecombeSandy and Shonagh BrownColin and Maureen BrumptonEddy BuehlmannMercedes BuehlmannTim and Sarah BuntingAndrew and Rachel BusbyYvonne BuxtonGregor Cameron and Amanda GhostRupert and Juliet CecilDavid and Olivia ChappleDominic and Kate ChristianSimon and Penny ClarkMadeleine and Charles CohenJames and Margaret CrippsBrian and Rena CuddiganAlan and Debbie DaviesMolly De WolfNick De LucaAdam and Jenny DiasMichael and Rita DiasPhillip and Domenica DunneBill and Dorothy DunnettIan and Mary EdwardsJasper and Sara FalkRoger and Johanna FawcettJohn and Sue FilerGeoffrey and Derryn Forester Robin and Lindsay FoxAlan GillespiePatrick and Rebecca GillespieDavid and Penny GillettRichard and Marguerite Griffith-JonesMartin GriffithsRoger and Ellie GuySusan Hampshire OBETony and Carol HarlowHelene HawMargaret and Peter HaynesJonny and Lindy HendersonGuy and Susie Holland-BosworthPhillip and Nicola HuxleyChristine JacksonMarcel JinaduKay JohnsonFrank and Mary JuckesJoanna Keeling and Nick JeffersonPaul and Emma KingSusan KingFrancis and Miranda KirkpatrickLeo KootSpencer and Heather LakeTony Langham and Clare ParsonsRichard and Jane LawsonColin and Lisa LawsonAlice LeachLord Leach of FairfordTim and Susie LintottEnda and Joan LoganJames LoganKaren LoumanskySam and Anna LoxtonJames M Lurie

David and Eve MacKintoshBruce and Gwen MacmichaelBridget MacnabStephen McNeillDavid and Rachel McTurkGreg MilaniEleanor MillsAnthony and Phillipa MoncktonNigel and Tracy MooreGordana and Mike MoriartyRoger and Emily MortonNick McCall and Alex MoseleyJustin Webb and Sarah GordonBob and Fay NealeKevin O’DonnellJohn and Jackie OffenbachMichael and Jane PardoeJohn ParkerEdward ParryRalph and Liz PeerNicole PriceTony and Jackie ReevesLloyd and Janine RidgwellCharles and Simone RifkindChristian and Tiffany RobinsonStuart and Bianca RodenChris and Jenny RolfeLarry and Adrienne SackinJohn and Victoria SalkeldNicholas and Caroline SaxbyIan SchneiderGraham ScottBenjamin and Laura SmithRobert and June SmithColin and Annick SouterGraham and Ginny SpoonerJames and Astrid St Aubyn FindlayCraig and Anna StewartNouchine and Jim StidhamNiall Curran and Sue ReidTina SuterChris and Teresa SuttonAndrew SwannGillian and Mark SweeneyDidier and Colleen TandySteve and Sally TaylorLea TaylorLady Anna ThomsonJohn and Francoise ThorntonRoger and Tina ThorntonSteve and Mary Ann TurnbullSiva and Shanthan VignesTom and Emily WardPaul and Frances WarwickTony and Helen WattSue Whelan TracyGraham and Helen WhiteJames and Sara WhitmoreIan and Beth WhitworthLady Jubie and Charlie WiganPeter and Ginny WilkinNina WillPeter WilliamsChristianne WilliamsonStephen and Mia WoodfordMike and Suzi YardleyTom and Federica BuehlmannRichard CrippsBruce Steinberg and Ashley DartnellSteve Hitchins and Baroness Sarah LudfordAngus and Margaret MaitlandIsabel and Victor CazaletBenjamin ElliotLissie and Klaus MacFarlaneChristina and David CroftNiall Curran and Sue ReidAshley Head

We thank everyone who has volunteered their time, donated, raised money, taken part in a clinical trial and spoken out on behalf of JDRF.

Juvenile Diabetes Research Foundation (JDRF) is a charity registered in England and Wales (no. 295716) and in Scotland (no. SC040123).Registered as a company limited by guarantee, in England and Wales (no. 2071638). Registered office as above.

For further information please contact:

JDRF

17/18 Angel Gate, City Road, London, EC1V 2PTTelephone: 0207 713 2030

Fax: 0207 713 2031Email: [email protected]

jdrf.org.uk

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