Registered Charity Number: 1000580 **Shaukat Khanum Memorial Trust** _Trustees’ Report & Financial Statements for the year ended 31 December 2023_ Shaukat Khanum Memorial Trust TTh$tees' report and finaTrcial stA¢ements l•r the yt*r ended 31 December 2023 Contents Page L£ga] arml administralive infornution Trustecs rqK)rt Auditors, report lo the Trustees Statement of financial activities io Balance sheet li Stat¢m¢nt of Cash Flows 12 Notes to the finarteial stai¢m¢nts 13-18 Shaukat Khanum Memorlal Trust Legal and adminlstrative inforniation for the ye*r ended 31 December 2023 s￿￿$ Estsblished under a Trust Deed Trdted 27 July 1990 Tn]st¢es Taher Nawaz Asmi DaTr Imrdn Khan (resigned 28 Septernber 2023) Charity number I1￿)0580 Charity Correspondent Mr Ikhlaq Ahmad PO Box 786 Bradford BD5 OYE Auditors Shipleys LLP 10 Orange Stre London WC2H 7 Bankers Barclays Bank PIC Shaukat Khanum Memorial Trust Trustees. report for the year ended 31 December 2023 The tTUStees present their report and accounts for the year ended 31 December 2023. The financial stsrements have been prepared in accordance with the Accountin8 policics set out on pag¢5 13 to 15 and comply with the Chariry's Trust Deed aTJd applicable law. OWECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT The tn￿eS have gsven due regard to th¢ Charity Commission's guidance on public bencfii when reviewing the aims and objectives and in planning th¢ future activities of the charity. The ¢lwity ¢ontinue5 10 provide granrs io support the Stwthat Khanum Memorial Cm¢er Hospital & Research C¢ntre in PakisW which was founded in 1994 by Imrnl Khan. a tnESttt of the Charity until 28 Septernber 2023. The hospitsl njns primarily on donations and generous contributions from around the world. The ho￿lIa] h& ¢stsblished itself as a centre of excellertce. providing treatTnent to thousands of cancer parienrs, who would otherwise be unable to afford can¢¢r care. The Shaukai Khanum Memorial Tntsi is committed to provide dia8nosiic and therapeutic eare 2bsolulely free to cancer parients who cannot afford it. Since 1994. the hospital h&$ come a long way. but th¢rc is siill a lot w be accomplished. Expansion plans for the future are already underway f(Trr Up￿adIng existing facilities and diversifying efforts for can¢¢r tr¢41m¢nt and research. Globally cotnparable with th¢ b¢st cancer hospitals, the Shaukai Khanum Memorial Cancer Hospital & Research Centre has the latest facilities for ¢an¢er diagnosis and treatment. The hospital has facilities for initial evaluation of suspected and diagnosed cancer paticnt$- both for adults and children. Diagnostic facilities iijelude radiology, 18bordtory medi¢in¢ endoscopies and nuclcar medicine. Facilitics for multimodality treatmeni include surgery, radiation and chemotherapy. The Bone Marrow/Stetn Cell Transplant unit had been opened with the firsi Bone Marrow Trdnsplantsiion procedure was catried out in April 2006. Th¢ Shaukai Khantun Memorial Cancer Hospital & Re5w¢h Centre opened a mulu-s¢orey diagnostic centre irt Karachi which is equipped with state of the art PET Ct scarlner. This will ensure thal patients do noi have io trnvel long distanc￿ for their diagn05l$. The hospital has been abl¢ io provide free of cosi treathieni to the p)or and ovcr the years 75 /• of the pati¢nts have been so a￿lsted. A specialist cancer hospital been built Èn Peshawar and is now serving thousands of anc¢r patients in NWFP region. The construction of Karachi hospital is ongoing and SKMCH are aiming 10 open Lt towards th¢ end of 2025. The aim of the Shaukat Khanum Memorial Cancer Hospita] & R¢s¢4rch Centre in Pakistsn is to allevi￿t ihe suffering of patients with cancer through the application of modern mcthods of ¢urdtive and palliative ihcrdpy irrespective of their ability to pay. the cducation of health care professionals and the public. and perforni r¢search into the caus¢s and treatment of cancer. The Charity provides ihe grani in furtherdrtce of the charitable obj¢¢tives of the Chartty. which ar¢ in line with the objectives of the Hospital. The chariry has the supwrt of many Volunte￿ ￿ s￿1$1 with fundraising. particularly during busy times of the year including durin8 Ramad￿. During the year the charity had 43712022.. 6121 volunteets. Shaukat Khanum Memorial Trust Trustees, report for the year ended 31 December 2023 ACHIEVEl￿ENTs. PERFORLWCE AND FINANCIAL REVIEW The total income amounted to £16.934.756 (2022.. £15,403,726). The principal source of income is donaiions. These are rnainly frorn donors who have an atTinity with Pakistan or who are relatives of the patEents. but also frorn people who support the charity in providing quality cancer care to the underprivilcged. The charitable expenditure trdnsferred an amount to Shaukat Khanum Memorial Trust in Pakistan for the benefit of the Shaukat Khanum Memorial Cancer Hospital & Research Centre in the year, totalling £15.500,000 in two instalTnents {2022.- £13,250,000 in one in5talrnent). Funds are sent either when adequate amounts have been ¢011¢¢t￿ or in response to a request from the Trust in Pakistan. A second hospital in Peshawar was opened on 29th December 2015 which is making a huge difference. The third Shaukat Khanum Memoria] Cancer Hospital in Karachi is taking shape with the full skeleton in place and some of thc inncrrooms completed. Thousands of poorcancei patients continue to suffer in and around Silldh provin¢¢ as th¢y ca[￿0t afford to make repeated trips to Lahore or Peshawar. The Shaukat Khonum hospital in Karachi will be of an immense importance for such canccr patients, who would be able to access comprehensiv¢ cancer facilities all under one roof. Due to the ongoing situation in Pakistan, the hospital ongoing work has been affected. We are now looking to open the Karachi hospital towards the end of 2025. Ui* Whilst in th¢ p&st fundraising been arrdnged by events organised by volunteers, th¢ sp&5rn0dic nature of such events meant that funds raised varied enormously. The mass market was approach¢d through advertisements and n￿11 shots aDd inforniation leaflets to regular donors and others and ihis has now become the mainstay of the Charity's fundraising. Costs are kept low as much of the work is done by volunteers. The Charity prides itself on incurring the leasi possible costs when compared to funds generaied. to ensure thar as much of the funds reach their intended destinaiion as is possible, instead of losing funds to cosis. This year direcr fundraising costs, mainly postag¢, printing 8t￿ online marketing amounted to £2,251,303 {2022.. £1,680,205). Shaukat Khanum Memorial Trust Trustees, report for the year ended 31 December 2023 No professional fi]ndraisers have been employed. The charity has not voluniarily subscribed to any fundraising standard or scheme. The chariiy has not received any complaints regarding its fundraising activities. A review of the perforniance of fundraising activitle5 agaiRst fundraising objeciives is carri¢d out on an annual basis by the trustees and the next years budg¢t objectives are set. At the year-end the unrestricted funds or res¢rves available for distribution by the Trustees amounted io £4,280.037 {2022.' £5.404.5901. The Trustees Intend to maintain enough reserves in order to mcct any adverse or ¢mcrgcncy cvent suffered by the Trust or the Shaukai Khanum Memorial Cancer Hospital & Research Centre, which is supported by th¢ Trust. The minitnuin a￿O￿At required io cover any em¢rg¢ncy event is £100.000. PLANS FOR THE FUTURE The charity is committed to continue raising money for the Shaukat Khanum Mernorial Cancer Hospital and Research Centre, so that the hospital can continue to funetion adequately, to expand its operations to other areas of Pakistan and to continue its research in the advancement of cancer treatment. STRUCTURE, GOVERNANCE Af4D MANAGEMENT Objects Shaukat Khanum Memorial Trust (also known as The Imran Khan Can¢¢r Appeal) w&s established under a trnst deed dated 27 July 1990. Its objecis are'.- to promote research into the causes of and a cure for cancer and similar diseases the estsblishment. endowment of or making grants io hospitals and sEmilar in5titutitsns in Pakistan for cancer sufferers The furtherance of cancer education Assisting cancer sufferers in Pakastan by grants Engaging in any activities which will lessen the sufferings of cancer patients in Pakistan Governing Document The clwiry's governing document is a twst deed dated 27 july 1990. The charity is not incorporated. Trustees Imran Khan, Tah¢rNawaz a[￿ Asrni Darr s¢rved ￿ tmstees during the year. Imran Khan resigned as a tsustee on 28 September 2023. Shaukat Khanum Memorial Trust Trustees, report for the year ended 31 December 2023 The power of appointing new TTUSte¢s of th¢ Charity is vested in tmran Khan as the Settlor and after his death in such person or p¢rsons as he shall by deed or decds revocable or irrevocable or by will or ¢￿icI1 appoint. Any new tThstees would r¢¢¢iv¢ training from an existing trustee about the charity and their responsibilities as a tnLSte¢ and would r¢¢eive a ¢(Trpy of the Charity Co]ntnission'5 guide for new trustees. "CC3 The Essential Tn￿tee.. What You Need to Know" Ongoing trdining is provided &$ required. The tDJsiees are aware of th¢ir legal duties and comply with the Chariry Governance Code. OrganisatioTh The overall poliey for the charity is deterniined by the Trustees and the day to day management is overseen by Mr Ikhlaq Ahmad with the assistance of otherpaid staff. The trnstees of the Clwity. who are also considered to be key management, giv¢ their time freely and receive no remuneration for their seryices. Remuneration for ¢rnployee$ is based on market rate5 taking into account their efforts and the level of donations received. Risk M&n8gemeD¢ The Charity's trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage the risks. The principal risks to the charity are natural disasters diverting donations to those affected by such disasiers and competition froTn other charities. The charity n￿keS use of media and digitsl plarforms to highlight the trdgic circumstances faced by cancer patients. The management ¢nsure5 that the internal controls are observed and reviewed periodically. The management also ensures that sufficient res(Trurces ar¢ maintsined to meet any adverse or emergency event. 51Jaukat lkhanum Ilc'morial 'l'rust l-ru%tC'L'5' rc'pibrl for Ihc, li'ar ended _I l Deceniber ?112.1 T..II'fr' 11}.N'I' VF" TRI".%TF.Tr..S' RF'S1>(>.N%IHILITIF.% TIIL TniqiL'jg arL' fc4pi)1141hli Ik)r rripaTliiy Ihe TnJ8le¥Th*'.,Iiinuil RLrK)n and Ihi financ1411 %iiieniilli* In ac¢ordanLL' ¥XPLnditUTL lor ih.ii ￿rI{￿l. In PT ri¥PLin%ihli lor %alL'biuardin& Illi ill- Ihi C'harir% and Ii)r iakinL? fKa*ontibli ilL'fi% Ii)r IliL priliiiiion and d¢lLxiii)ii i?I'lraud iiihlr IrrL¥wlarLiie5. This riPUtT appr(i¥L￿ b} IhL I'ru51cif on .tsr)d sign¢d on IES bchJlt'bi' 2311012024 Mr T XaM'a7 TtUSiL¥ Shaukat Khanum Memorial Trust Independent Auditors. Report to the Trustees of Shaukat Khanum Memorial Trnst for the year ended 31 December 2023 Opinion We have audit¢d the financial statements of Shaukar Khanum M¢morial Trust{the'Chariry'} forthe ye8rendoJ 31 December 2023 which comprise the Statement of Financial Activities. the Balance SheeL the Statement of Cash Flows and noi¢s to the fitwicial stateInents. including a summary of signlficallt accounting wlicies. The financial reponing frdmework that has been applied in their preparduon is applicable law and United Kingdom Accounting StaTLdards. including Financial Rryning Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of Ireland (Uniied Kingdom G¢neratly Acceptrd Accowiung Practice). In our opinion. the flnanci￿ statements: give a true and fair Yiew of the state of the Charity's affaits &% ￿ 31 December 2023 and of its income and expenditure for the year then ended; have b¢¢n prowly prepared in accordance with United Kingdom G¢n¢rJlly Acceptrd AccounliDg Prdcti¢e', have been prepued in accordance with the requirem¢nts of the Ch8riti&s Act 2011. Basls for oplnlon We eonducied our audir in ac¢ordan¢e with International Standards on Auditing {UKI IISAS {UKI) and appli¢abl¢ law. Our responsibilities under those standards are funher described in the Audtior's responsibiliiies for the audit of the financial Statements section of our repon. Wc 8r¢ ind¢pendent of the Chariry in accordgnce with the ethiettl requirements that are relevani io our audit of th¢ financial statements irt the UK including the FRC'S Ethical Standard and we have fulfilled OUT otheT ¢thi¢4E r¢sp(Trnsibilities in accordance with th¢se requirements. We believe that the audit evidence we have obtain¢d is suffi¢i¢ni and appropriate io provide a basis for our opinion. Coneluslons relatSng to going concern In auditing the fin¥rt¢]￿ stttiement4 we have concluded that the tDJStees' use of the going concern basis of accounting in the pr¢par4ti0n of the financial sthtements is appropriate. B￿d ort the work we have perfornied, we have not identified any malerÉal uneert8inties relaiins to events or condiiions thaL individually or collectively, may cast signifLe#nt doubt on the charity's abiliry io continu¢ &$ a going concern for a p¢ri<)d of at least twelve months from when the financial sraiements are authorised for i&4ue. Our responsibilities and the responsibilities of the trustees with rwt to 80in8 concern are d¢￿Tibed in the relevani sections of this report. Other Informatlon The trustees are responsible for the other infomiatiort. The other infomi8rion comprise5 th¢ inf0m￿tion included in the annu￿ r¢p(Trrt other than the fitWLci&I statements and our 8udiior's re￿rt th¢r¢on. Our opirtion on thc financial statements does not cover the other infom)ation and except to the extent oth¢rwise explicitly stAted in our repory we do not express any forni of assurance conclusion thereon. In ¢onn¢c¢ion with our audit of thc fjnancial statements. our responsibility is to read the oiher infoTm8tion art4 in doing so, wnsider whether the other inforn)ation is materially inconsisteni with the financial stat¢ments or our knowled8c obtained in the audit or oihen¥ise appears to be materially misstsred. If w¢ identify such material inconsistencies or apparent material missraiements, we are required to detennirte whether there is material misststement in the financial statements or a material mi&statement of the other infonnarion. If. based on the work we have perfornied. we conclude that there i$ 4 mat¢ri41 missthiement of this other inforn)atio we Bre required to report that facL We have nothing to report in this regard. Shaukat Khanum Memorial Trust Independent Auditors, Report ¢0 Ihe Trustees of Shaukat Khanum Memorial Trust for the year ended 31 December 2023 Matters on wbich we are required to report by exeeptioD In the light of ihe knowledge and undersianding of the Chartry and environment obrained in the course of the audit, we have not idenrified material missiaiements in the TDJsiees' Am)ual Rwrt. We have nothing to report in respe¢t of the following matters in relation to which the Charities (Accounts and Reports) Regulation5 2008 require5 US to report to you if, in our opinion.. the inforn]ation given in the Trustees, Atjnuai Report is ineonsistertt in 8ny material respect with the financial sthtements; sufficient accounting r¢¢ords have not been kepi; the fitwtciai statements are noi in agreement with the accountin8 records and renllms. or w¢ knv¢ Dot obtained all the inforn)ation and explanatioL8 nece&%ory for the purp05e5 of ouraudiL Ruponsibilities of the trustees As explained more fijlly in the trustees, r¢swnsibilities statem¢nt on page 6, the trustees are responsible for the preparation of the finaneial statements and for being satisfied that they give a true and fair view, ond for such iniemal control as they det¢rmine 15 necessary to enable the preparation of financi￿ Sta￿ments thai are fr¢¢ from m8t¢ri81 mis5tatemenL whether due to fraud or error. In preparing the financial sts￿Ments, the trySt¢e5 are responsible for assessing the Chariry's ability io continue as 8 going concem. diselosing, as appli¢abl¢, matters related to going concern and using the going concern b8sis of accounting unless the tswtees either intend to liquidate the Charity or to cease operat20ns, or hav¢ no realistic atternativ¢ but to so. Audtttir's respDnsibilitles for the audlt olthe fiD*ndal st*temeDts We have been appointed as audiior under sectson 144 of the Chariti¢s Act 2011 and rewirt in accordance with the Act and relevant regUl￿lOnS made or having effect thercut￿¢r Our objeciives are to obtain r￿ortable wurdnce about whether the financial statements as a whole are free from material missraiement. whethcr du¢ to fraud or e￿Or, and io issue an auditor's re￿rt that includes our opinion. Reasonable assurance is a high level of ￿surd￿ce, bui is noi a guarantee thai an audit conducted in accordance with ISAS IUKI will alway8 detect a material misstatement when it exists. Irreguloriiies, includin8 fraud. are instsnces of non-compliance with laws and regulations. We design procedures in line with our ￿sPOnsibl11t￿¢S. outlincd abov¢, to detect Materi￿ misstaternents in respect of irregularities. Èncluding fraud. The extrnt to whieh our pr￿¢dur¢S are capable of detecting irregularities, including fraud is detailed b¢low: We obtsined an understsnding of the charity's activities, controls and laws and regulations and assessed the suxepiibiliry of the charity's finatt¢iai sta*M￿ts ￿ ma￿rIal missthtemen( from irregularities. irt¢luding frau We deierniined the laws and regulations that are mo* $ignificant to the chariry are the Ch8riti&s (Accounts and Reports) Regulations 2(K)8. the Chariti¢5 Aci 2011, the Financial Reporting Stsndard pplicable in th¢ UK and Republic of Ireland (FRS 102), Accounting and Reporting by Charities: Sthtemeni of R¢¢ommended Practice applicable to Chariiies preparing their accounts trt aeeordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP FRS 102) and the Tnjst Deed. Based on this understanding we designed our audit procedures io detecting irregularities. irtcluding fraud. Testin8 undertaken included making enquiries of tho5¢ charged with govemance., journal enty testing; review of bank letters and governing document.. reviewing financial staiement disclosures and testin8 to supporting documentation to &ss¢ss compliance with applicable laws and regulaiions. These procedures weredesigned ioprovide reasonablewur4nce thatthe financial statements were free from fiHud or error. Shaukat KhaDUm Memorial Trust Independent Audltors, Report to the Trustee5 of Shaukat Khanum Memorial Trust for the year ended 31 December 2023 A fiwther dwription of our responsibilities for the ￿dit of the finan¢i41 slat¢m¢nts 15 locat￿ on th¢ FinancL81 Rewrtll￿ Coutt¢il's w¢bsit¢ aL www.frc.org.uklauditotsrtspo￿*lb1jltits. This d¢5¢ription forms part of our audI￿r'S reporL Use of our report This repon is made solely io the Chartty's trusltts, as a t￿y. in accordance with section 144 of the Charities Act 2011 and the re8ulation5 made under section 154 of Act. Our audit work has been widertaken 50 that we might stat¢ to the Charity's trustees those matters wc are r¢quir¢d to state lo them in an auditor's report and fi>r no othcr pU￿)se. To the fullest ext¢nt p¢mitted by law, we do noi accept or assume responsibiliry io anyone other than the Charity's ttusttts &$ o body, for our audit work, for this repo￿ or for the opinions we have form¢(L LLP Shipley$ LLP Cbartered Accountsnts & St*tstsry Audltors 10 Orange Srreei London WC2H 7DQ Date 2411012024 ShÈpl¢ys LLP is eli8ible for apFK)intment as auditor of the chartty by virtue of its eligibility for appointhmi as auditor of a company under 5e¢tion 1212 of the Companies Act 2(M)6. Shaukat Khanum Memorial Trust ststemelhl of Finanelal Actlvltles For the year ended 31 December 2023 UDre5tricted FuDds 2023 2022 Total Total Notes INCOME Donatior]s 16,934.756 15,403,726 TDtsI incorne 16,934,756 15,403.726 EXPELYDITURE Costs of raising fun( Costs of Charirable activities (2,559.3091 (1.960.119} {15.500,0(x)) (13,250,000) Totsl eipeDditure (18,059,309) {15,210.119) Net (expenditure} l ineome aDd movement in lunds for the year (1.124.553) 193,607 Totsi funds brougbt fornrd 5,404,590 5,210,983 Total funds earrled forward £4.280.037 £5.404,590 Tbe notes on pages 13 to 18 form 4n integral part of these finanelal statements. 10 ShJukat IKhJiium Ileinorial 'l-riisi Balancc shcci .41 dl .11 Di'Leinbi'r I ,iJ C'rediior%.' Jmounis fAllin2 dthe in (}4 t ¢urrent 4s%ei.4 Toial asseti li'%% curreTLI liabilitll'5 Fund8 of IhL' ¢hArKI LiiirLslnitLd fiind 2311012024 The noies on 13 to IX Inrni an ini¢nral part of ihi'sL' finaniidl %lJli'rni'nti. Shaukat Khanum Memorial Trust Statement of Cash Flowg For tbe year ended 31 Dw¢mber 2023 21123 2022 Ca5b flows from operating aetivitles Net income {1.124.553) 193,fA)7 Adjustmentsfor." Depreciation De¢re&s¢ 1 {in¢r¢&q¢) in debtors Increase l {decreaseJ in creditors 531 803.670 67,774 {153,970) 14J721 Net cash (used I provlded by operating activities (252.578) 35.265 C#$h flow$ from lttvestlng 8ctlvltSes Purchase of tangible fixed &ssets (2.653) Net cash used ID investing a¢tivitle (2.653) CbAnge In easb and cash equlv*leTh¢g durlng the yt4r {255231) 35.265 C#sh *Dd cash equlv*leDts at the beglDTrIDg of the year 2.419.025 2J83.760 C4Jb And u$h equlvAl¢nts at the end of the ye*r £2,163,794 £2,419,025 The n•teJ OD p4geJ 13 ¢0 18 form An IDtegrnl p&rt of tb¢x¢ fin8D¢l*l ItAt¢men 12 Shaukat Khanum Memorial Trust Notes to the financial statements for the year ended 31 December 2023 Aeeoullting policies 1.1 General informatlon Shaukat Khanum Mernorial Trust is an unincorporated tn]5t governed by a twst deed and registered with the Charity Conllnission in England. Thc principal address is PO Box 786, Bradford, BD5 OYE. The objectives of th¢ cl￿rity are set out on page 2. 1.2. Aceollntlng convention The f]nancial statements have been prepared in accordance with Accouniing ond Reporting by Charities.. Statement of Reconllnended Practice applicable to ¢harities preparing theiraccounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP (FRS 102)), Ihe Financial Reporting StaTLdard applicable in the UK and Republsc of Ireland IFRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'tNe and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'tNe and fairview.. This deparnire has involved following Accounting and Reporting by Charities preparing their a¢counts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 issu¢d on 16 July 2014 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice cffective from l April 2005 which has since been wTrthdrawn. A55ets and liabilities are initially recognised at historical wst or transaction value unless otherwise stated in the relevant accounting policy. Shaukat Khanum Memorial Trust meets the definition of publi¢ benefit ¢ntity under FRS 102. The fi]nctional currency of the charity is considered to be pollnds sterling because that is the currency of the prirnary economic environment in which the Charity op¢rat¢$. The fIr￿l¢la1 ststements ar¢ also presented in poU[￿S sterling. The amounts in the financial ststements ar¢ presented to the nearest £1, unless otherwise stated. IJ Goillg eoncern There are no material uncertainties casting doubt on the chariry's ability to continue as a going concern. The accounts have been pr¢pared on the going concern basis. With the global ¢¢onomy in crises, a lot of people saw their disposable income shrink. It is inevitable for charity to b¢ impactcd We saw reduced donations from our regular donors with some cancelling their direct debits. In order to bridge the gap and keep on providing the critical cancer care, IKCA stepp¢d up it ¢fforts with additional online advertising which brought in new donors. The focus on reaching out to new audience not only bridged the gap bui brought in some additional revenue. Going fonvariL we plan to focus on this route which has been proven Success￿]. IA. Incgllle Income is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Inc(Trme relates to donations frorn the public. The charity includes an esti￿￿te in the accounts for bnft aid recoverable on donations. This is based on past history of gifi aid claI￿¢d on donations. The provision at 31 December 2023 £2,124.925 r¢lating to £1,750,000 for 2023 and £374,925 for 2022 (2022.. £2.851,000 relating to £1,525,000 for 2022 and £1.326,000 for 2021). Actual results may diff¢r from th¢se estiinates. 13 Shaukat KhaDum Memorial Trust Notes to the flnancial statements for the year ended 31 December 2023 A¢couDtiDg Policies feoniinued) IJ. Expenditure Expenditur¢ is r¢cognis¢d once ihcre is a legal or ￿nstrUctIve obligation lo make a payment to a th￿d , it is probable thai settlemeni will be r¢quire(L and th¢ amount of the obli8alion can be measured reliably. Bxpenditure is classified under the following activity headings: Costs of raisillg comprise the costs associated with fiJndraisin8 and attracting donations. EXpendits￿e of clwitsble activities includ¢5 grdnts made. Grants payable are paym¢nts made w third parties in the fijrtherance of the chtiritsble objectives of the charity. Uncortditiortal grant off¢r5 are ac¢Tued once the recipient h&% beert notified of the grant awar The notification gives the recipient a re&so[￿ble expecraiion thai they will receive the grant. Suppon costs are those funetions that assist the work of the cheriry but do rtot directly undertake charitable activities. Support ¢osts include otTice Costs. finance. IT supN>rt Costs and governance costs. These costs have been allocated beNeen cost of raising fvn(L5 and expenditure on charitable activities based on staff time. Gov¢mance costs represent those costs of stra¢8i¢ management of the Charity and of co￿pIYIng With constitutional and statutory rquirernents. Itrecoverabl¢ VAT is char8ol a8aitL8t the expenditure heading for which it was incurred. 1.6 T*ngible assets Tangtble are initially recorded at COS4 and subs¢quentty ststed at coll le&$ any accumulated depreciation 8TH1 impairnieni lo&w. 1.7 Depreciatlo Depreciation is calculated $0 &5 to write off the cosi or valuation of an ¥ss¢L less its ￿sIdual vatu< over th¢ us¢ful economic life of th&t asset as follows.. Computer Equipment 5 years straight lirte Debtors Other debtors are reco8rtis¢d at th¢ settlement amount du¢. 1.9 Cash *t bank Cash ai bank and cash in hand irtclude5 c&th and shon fft hI￿]Y lÈquid investments with a Short maturÈty ofthre¢ months or le&% from the dat¢ of acquisition oropenÈng of the deFK)Sit or similaraccount. 1.10 Credi¢ors and provlsloDs Creditors and provisions are recogllisd where the charity a present obligation resultin8 from a pAst ent that will probably result in the transfer of fimds io a third party and the amount due to settle the obligaiion can be measured or estimated reliably. Creditors and provisions are nornuily recognised at their settlement amount after allowing for any trade discounts due. i.li DefiD¢d CODtrlbution pl&DS Contributions to defined contribution plans are reco8nised ￿ an expense in the period in whi¢h the relatrd servic¢ is provid￿. Differences benveen contributions payable in the year and the Contributions acDJally p￿d ar¢ shown either accrua]s or prepayments on the balance sheeL 14 Shaukat Khanum Memorial Trust otes to the financial statements for the year ended 31 December 2023 Aecountitig poileles (Continued) 1.12 FinaDcial instruments The charity only has financial assets and financial liabilities of a kind that qualify as b&sic finat]cial instrumeTJts. Basic fjnancial instnunents are initially recogll]sed at transaction value ar￿ subsequendy measured at their selllement value. 1.13 Fund Aceovnting Unrestricted funds are available to sp¢nd on activities that further any of the purposes of th¢ charity. Donatlons 2023 2022 Income from LN)nations 16.934.756 15.403,726 The chariry benefits greatly from the involvement and enthusiastic 5UPP)rt of its many voluntrer& In accordance with FRS 102 and the Chariiies SORP IFRS 102), the ewnomic contribution of general volunteers Is not reeognised in the accounts. Cost of r8islng funds 2023 2022 Fund Raising and publicity costs Suppon costs Wages and 54laries 2.251.303 1.680.205 182.944 163.167 125.062 116.747 2.559.309 ,960.119 Charltable actlvltlej Gran¢ fund￿ *¢tlvlty 2023 2022 Grants payable 15,5(M),(XKJ 13250.1 The grants are amounts paid io the Shaukat Khanum Memorial Cancer Hospital & Research Centre in Pakist￿. The objeciives of the hospit￿ are in line with the charitable obj¢¢tives of th¢ charity. 15 Shaukat Khanum Memorial Trust Notes to the flnanclal statements for the year ended 31 December 2023 Support to$ts 2023 2022 Finanee & ¢ard pro¢¢ssing ¢hprg¢s IT suppon costs Office Governance costs Depreciation 154,756 2,331 18,366 6.960 531 135.030 195 15,2(K) 12,742 182,944 163,167 Suppon costs are allocated be￿eert co# of rnising and expertdittlre ort charitsble activiti&s based on staff time. Employtt time ts spent exclusively on rdising funds for th¢ ¢harity. Governanee eosts 2023 2022 Audit Fees Lcgal Fees 6,960 6,742 6.960 12.742 Staff costs 2023 2022 Wa8es and salaries Social security costs PeTLsion 117,742 6,232 1,088 109,465 6,166 125.062 116.747 The average number of employees in the y¢ar by headcouni was four12022.. ftjurl with ￿] employee time involved in raising fim(Ls for the charity. The number of full time equivalent employtts w&$ 3.4 {2022.. 3.4). The number of employees that r¢c¢iV￿j emoluments of £60,(KX) or nmxe in the year was Nil12022: Nil). No tNstee received any remunerdtion or reirnbursemeni of expenses in respect of the current or prior year. No trustee received paym¢nt foT professional or other seThie¢s supplied to the ¢lwity12022.. £nÈl). No salaries were pa]d to members of key managemeni durin8 the current or prior period. 16 Shaukat Khanum Memorial Trust Notes to the fJnanci21 statements for the year ended 31 December 2023 T#Dgible assets Cornputer Equipment Tot81 Cost Ai l Jan 2023 Additions 2,653 2.653 At 31 Dec 2023 2,653 2.653 Depreciation At l Jan 2023 Charge for the year At 31 Dec 2023 531 531 531 531 Carrying amount At 31 D£c 2023 2,122 2,122 At 31 Dec 2022 Taxation The ctwity is exempt from tax on income and gains to the extent that these are applied to its charitsble objectives. FinaDci&I IDStruments 2023 2022 Financial assets that are measured at amortised cost: Cash at bank and in hand 2,163.794 2.419.025 ii. Unrestrieted fund$ The pU￿oSe of the unrestricied funds is the promotion of research into the causes and a cure for cancer and similar diseases. Further to this. funds are intended for the establishment. the endowment of or making grants to Shaukat Khanum Memorial CancerHospital in Pakistatt forcancer sufferers. The Tn￿1 is devoted to the furtherance of Cancer education and enga¥ing in any activities whatsoever which will lessen the sufferings of cancer patients in Pakistan. 17 Shaukat Khanum Memorial Trust Note5 to the financial statements for the year ended 31 December 2023 12. Related Party Trallsaetlons tmran Khan, a trustee of the Charity until 28 September 2023. is founder and Chainnan of the Honorary Board of Governors. of the Shaukat Khanum Memorial Cancer H05Pital & Research Centre in Pakistan. During the year, the Charity made a grant to the Shaukat Khanum Memorial Cancer Hospital & Research Centre of £15,500,(x)0 {2022.. £13,250,0(K)). The trustees made donations totalling £529 to the Charity during the year {2022.. £nil}. 13. ADslysis of ch4oges ID Det debt AtlJan 2023 Cash Flows At31 Dec 2023 Net cash Cash at bank and in hand 2,419,025 1255,231) 2,163,794 AtlJan 2022 Casb Flows At31 Dee 2022 Tr4et cash C&sh at bank and in hand 2,383,760 35,265 2,419,025 18 Follow us on ##    Imran Khan Cancer Appeal, PO Box 786, Bradford BD5 0YE. Tel: 01274 424 444 www.ikca.org.uk Registered Charity No. 1000580