CANCER

Bloodwise 42
STRATEGIC REPORT
SUBSIDIARIES AND
RELATED PARTIES
Leukaemia & Lymphoma Research Trading Ltd is a
wholly owned subsidiary of Bloodwise (formerly known
as Leukaemia & Lymphoma Research). The principal
activity of this trading company is a retail catalogue.
The company has had a successful year and taxable
profit of £0.4 million (FY14: £0.3 million) was donated
under gift aid to Bloodwise, details of which are in note
7 to the accounts. The accounts presented from page 50
are consolidated accounts.
SALARIES
The Trustees have paid due attention to the
requirements of the Charity Commission and the
recommendations of the NCVO with regard to the
disclosure of salaries.
We’ve conducted a thorough review of pay policy over
the last two years, which we continue to monitor and
evaluate. To update our written pay policy we have
benchmarked salaries; agreed the positioning of
salaries relative to the data; introduced a structure
of six salary bands (grades) and all employees were
assimilated to one of three levels of pay at every grade.
All staff are appointed within this structure with the
exception of the Chief Executive. The Chief Executive
salary was determined by the (then) Finance & General
Purpose Committee by speaking to agencies on CEO
pay in the sector and taking advice on executive pay
ratios to senior management. Performance was also
considered.
PENSIONS
We contribute a defined amount to individual
employees’ personal pension schemes, which are
currently provided by AEGON. Auto-enrolment was
introduced in July 2014 and the majority of employees
have joined the scheme. The charity has previously
been a member of a multi-employer pension scheme,
the Federated Flexiplan No.1 Pension. Towards the
end of the year we were given the opportunity to exit
the scheme, concluding all obligations and liabilities
at a saving of nearly £0.1 million. Details of pension
contributions can be found on page 57.
GOING CONCERN
Our current financial position has been outlined in the
review above. The Trustees believe that Bloodwise ends
the year in a financially robust position. Our strategic
risk model assesses projected income and expenditure
for the next five years and we consider that the level of
our reserves equips us to withstand any substantial fall
in income.
We have a reasonable expectation that we have adequate
resources and control mechanisms to continue in
operational existence for the foreseeable future.
Therefore we continue to adopt the going concern
basis of accounting in preparing the annual financial
statements.
The Remuneration & Appointments Committee reviews
sector data on executive pay to monitor appropriate
alignment of executive pay. As in previous years, an
analysis of senior executive salaries is presented on
page 57.
We’ve recently introduced a pay progression element
to our policy that considers achievement of objectives,
as well as the behaviours of each employee in
demonstrating our belief and principles. This will allow
us to assess performance in relation to pay.
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089
Registered charity 216032 (England & Wales) SC037529 (Scotland)