Chari Number 1007819 THE RALPH BATES PANCREATIC CANCER RESEARCH FUND UNAUDITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" MARCH 2022
THE RALPH BATES PANCREATIC CANCER RESEARCH FUND Chari no: l(K17819 CONTENTS PAGE I CONSTITUTION. TRUSTEES AND ADVISORS PAGE2-3 TRUSTEES'REPORT PAGE 4 INDEPENDENT EXAMINER'S REPORT PAGE 5 STATEMENT OF FINANCIAL ACTIVITIES PAGE 6 BALANCE SHEET PAGE 7- 10 NOTES TO THE FINANCIAL STATEMENTS
THE RALPH BATES PANCREATIC CANCER RESEARCH FUND Chari No: 11)07819 PAGE I CONSTITUTION The Ralph Bates Pancreatic Cancer Research Fund is a Registered Charity, No 1007819 and was formed on 17 January 1992. The fund is governed by a Trust Deed and managed by the Trustees. PATRON AND TRUSTEE SIR PETER BLAKE CBE. RDI,RA TRUSTEES Mrs Virginia Bates Dr John Glees MD, FRCR Mr MSchael Bridge FCA Mrs Sharon Sullivan Mr Nigel Baly Bsc, MRICS Mr Les Biggs ACIS I Secretary) BANKERS HSBC Bank PLC, 9 High Street, Ketterin& Northants, NN16 85T INDEPENDENT EXAMINER Mr C W Soper FCCA, 20 Furzen Close, Dunstable.Beds.LU6 3EN LEGAL ADVISERS Edwln Coe, 3 Stone Buildings, Llncolns Inn, London, WC2 3TH REGISTERED ADDRESS St Georges University of London, Jenner Win& Cranmer Terrace. London. SW17 ORE ADMINISTRATION ADDRESS 317 Old Bedford Road. Luton. Beds. LU2 7BL
THE RALPH BATE5 PANCREATIC CANCER RESEARCH FUND Chari No:1007819 PAGE 2 TRUSTEES, REPORT The Trustees are pleased to present their report for the year ended 31 March 2022. OBJECTIVES AND ORGANISATION OF THE CHARITY The Charity was constituted under a Trust Deed dated 17 January 1992, the principle otsiectives of which are: -Both caplt31 and Income of the Fund shall be applied by the Trustees for all or any of the followin8 purpose5:. al To promote research into pancreatic cancer and associated diseases, disabilitles and conditions by way of 8rant, remuneration, loan5, or other assistance for persons, hospitals, universities, colleges. institutions, corporate bodie5, charities, trust or other engaged in such research. bl To carry out or participate in such research directly. cl To provide relief and comfort for pancreatic cancer sufferers either directly or through any hospital, charity, institution or other party en8aged in such work. dl To establish, endow, fund or assist fellowship bursaries or Scholarships linked with the name Ralph Bates and tenable by persons engaged wholly or mainly In pancreatic cancer research or treatment. The Trustees who served in the year are set out on Page l of the financial statements. There are no subcommittees. The existin8 Board of Trustees is responsible for appolntlng other Trustees. When considering candidates, the Trustees take Into account any professional qualifications, clinical or other relevant experience and the candidate's potential contribution to the Charity. The Trustees have been mindful of, and ensured that, the Charity has acted in accordance wlth the Charity Commission's guidance as pertains to public benefit. REVIEW OF AcficiTIES ACHIEVEMENTS ANO FufuRE PLANS Followin8 the lockdowns caused by the Coronavirus pandemic, our research at St. George's Unlversity of London, recommenced in February 2021. During the lockdowns, our research team did what they could to keep the research moving, by analyzing data and carrying out mini projects on cancer cells, which meant they were able to pick up their research without delay. Our research had previously shown that treating pancreatic cancer cells with a combination of gemcitabine Ithe usual treatment) and cytokine. TRAIL. significantly reduced both cell viability and survival. During the year, the team examined the effect5 Qf this combination over varyin8 treatment times. Three cell lines were established and all three demonstrated different responses over a six hour period of treatment with the cytokine.
THE RALPH BATES PANCREATIC CANCER RESEARCH FUND Chari No:1007819 PAGE 2 TRUSTEES, REPORT- Continued. At a treatment time of four hours, one cell line indicated a survival rate of around 41%, a significant improvement over the six hour treatment. Other line indicated a minimum of approximately 49%. This was an encouraging sign and in July 2022, a paper detailing the research and the results was published in the International Journal of Molecular Sciences. a hiEhlv respected. peer reviewed, open access journal published on line. Donation5, although slower than we would have Ilked at the beginning of the year, plcked up later on and with continuinB tight control at St Geor8e's. we feel able to continue this important research. FINANCIAL REVIEW During the year donations and other Income amounted to £26,92312021 - £11.0811 and expenditure was £2,359 12021 - £2,157) leavin8 a surplus of £24,564 12021 surplus of £8,924), which is transferred to the Unrestricted Funds brought forward which stand at £36,24912021- £11,685). After making appropriate enquiries the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. This includes consideration of the Impact of COVID-19. Fundralslng tradltlonally varles from year to year but ha5 been affected by COVID-19 however It Is too early to determine the longer term Impart on fund raising. The principle Item of expenditure is the funding of research which has itself been affected by COVID-19 and has delayed costs. Even if the Charity received no further Income (which the Trustees regard as m05t unlikely) the Charlty can sustain a comparable level of actlvlty for the next two ye3r5 at least. For thSs reason, they contlnue to adopt the 8oln8 concern basis in preparln8 the flnanclal statements. The Trustees recognize that whilst there is some uncertainty, there is not deemed to be a material uncertainty on the charlS ability to continue as a going concern.
THE RALPH BATES PANCREATIC CANCER RESEARCH FUND Chari No:1007819 PAGE 3 TRUSTEES. REPORT- Continued. RESERVES POUCY The Trustees attempt to retain sufficient Income reserves to enable the fundlng known and potential expenditure of future research into pancreatic cancer and associated dlseases. disabilities and conditlons. RISK MANAGEMEKr The Trustees have assessed the major risks to which the Charlty Is exposed, in particular those related to the operations and finances of the Charity, and are 5at15fied that system5 and procedures are in place to mitigate the Charitws exposure to the major risks. Thls includes consideration in 2021-2022 and 2021>2021 of the impart of COVIDI9. Slgned on behalf of the Board L R BIGGS- Trustee Dated: 11 LL .
THE RALPH BATES PANCREATIC CANCER RESEARCH FUND Chari No:1007819 PAGE 4 INDEPENDENT EXAMINERS REPORT report to the trustees on my examination of the accounts of the Charity for the year ended 31 March 2022, which are set out on pages 5 to 10. This report is made solely to the Charitrfs Trustees. as a body, in accordance with Regulation 31 of the Charitie5 { Accounts and Reports) Regulations 2008. My work has been undertaken so that I mlght slate to the chariws I rustees those matter5 1 am required to state to them in an Independent examinerfs report and for no other purpose. To the fullest extent permltted by law. I do not accept responsibility to anyone other than the Charity's Trustees as a body, for my work, for this report, or the statement I have made. RESPONSIBILITIES AND BASIS OF REPORT As the Charity Trustees you are responsible for the preparation of the accounts In accordance with the requirements of the Charitles Act 20111 "the Acri. I report in respect of my examination of the Charity's Account5 carrled out under sectlon 145 of the 2011 Act and in carrylng out my examination I have followed all applicable Dlrectlon5 given by the Charlty Commission under section 145{511bl of the Act. INDEPENDENT EXAMINE*S STATEMENT I have completed my examination. I confirm that no material matters have come to my attention in connertlon with the examinatlon 8lvSn8 me cause to believe: a} Accounting records were not kept in respect of the Charity as require by sectlon 130 of the Act,. or bl The accounts do not accord with those records; or cl The accounts do not comply with the accountin8 requirements concernin8 the form and content of the accounts set out in the Charltles l Account5 and Reports) Regulatlons 2008 other than any requirement that the accounts 8ive a 'true and falr vlew which Is not a matter considered as part of an Independent examination; or dl The accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accountin8 and reportin8 charities applicable to charities preparing their accounts in accordance wlth the Financial Reporting Standard applicable in the UK and the Republic of Ireland I FRS1021. I have no concerns and have come acr055 no other matters In connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Dated: C W SOPER FCCA Chartered Certified Accountant 20 Furzen Close Dunstable LU6 3EN
RALPH BATES PANCREATIC CANCER RESEARCH FUND Char No:1007819 PAGE 5 FINANCIAL ACTIVITIES FOR THE YEAR ENDED 3tst MARCH 2022 As Restoted Total Funds Llnrestrirted Funds 2022 Total Funds 2022 2021 INCOME FROM Donatlons and Legacies I Inc Gift Aldl Investment Ineome £26,911 £12 £26,911 £12 £ii,Q41 £40 TOTAL £26,923 £26,923 Ell.081 EXPENDITURE ON Ralslng Funds Charltable ActivitSes £1,510 £849 £1,510 E849 £712 £1,445 TOTAL £2.359 £2,359 £2,157 NET INCOME/EXPENDITURE £24.564 £24,564 £8,924 FUNDS BALANCES BIFwd £11,685 £11,685 £2, 761 FUNDS BALANCES C/Fwd £36,249 £36,249 £11,685 All amounts derlve from contlnulng actlvltles. The statement of flnancial actlvitles Indudes all gains and losses reco8nlsed In the year.
RALPH BATES PANCREATIC CANCER RESEARCH FUND Chari No:1007819 PAGE 6 BALANCE SHEEf AS AT 31 MARCH 2022 Note 2022 ZOZ2 2021 2021 CURRENT ASSETS Debtors Cash at Bank and in Hand £2,831 £65,413 £2,563 £89, 779 £68,244 £92,342 CREDITORS Amounts Fallln8 due within one Year £31,995 £11,731 NEf CURRENT ASSETS £36,249 £80,611 Amounts Fallin8 due after more than one yeai £0 £68,926 NET ASSETS £36,249 £11,685 Represented by: UNRESTRicfED FUNDS io £36,249 £11,685 £36,249 £11,685 The flnancial statements were approved and authorised for issue by the Trustees on: Date-.. V Bate5 .. .Chairper50n L R Biggs......,..... ..Tru5tee
THE RALPH BATES PANCREATIC CANCER RESEARCH FUND Chari No:1007819 PAGE 7 NOTES TO THE ACCOUNTS I. ACCOUNTING POLICIES la} The Charity is registered in England and Wales. The financial statements have been prepared under the historical basis. The financial statements have been prepared in accordance with the Charities Act 2011, the Statement of Recommended Prattice applicable to the charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland I the FRS 102 Charities SORP). 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. The financial statements have been prepared to give a 'true and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fairf view. This departure has involved following the Charities SQRP IFRS 102} published l January 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effertive from l April 2(JJ5 which has been withdrawn. Ib) Going Concern The Trustees confirm that at the time of approving the financial statements, there are no material uncertainties regarding the Charitvs ability to continue in operational existence for the foreseeable future .In arriving at thi5 conclusion, The Trustees have taken account of current and anticipated financial performance in the current economic conditions. its Corporate Plan and its reserves position as referred in the Trustees report. Ic} Donations are included in the statement of financial activities when received. except donations from sponsorship of events which are accounted in the year in which the event takes place. Bank interest is included in the statement of financial activities on the basis of the amount receivable in respect of each financial year. Idl Expenditure is included in the financial statements when incurred. except cost5 related to fund raising events which are accounted for in the year in which the event takes place. Grants for research are included when a legal obligation arises. lel Restricted funds comprise monies received subject to specific conditions required by the donor and binding on the Trustees and relate to 3 specific research project. Unrestricted funds are made up of all other donations and interest and are for general use. If) The charity only has financial assets and liabilities that qualify as basic financial instruments. Basic financial instruments are initially recognized at transaction value and subsequently measured at their settlement value. (g) Short term debtors are measured at transaction price. less any impairment. Loans receivable are measured initially at a fair value, net of transattion costs, and are measured subsequently at amortized cost U5in8 the effective interest method, less any impairment.
THE RALPH BATES PANCREATIC CANCER RESEARCH FUND Charl No:1007819 PAGE 8 NOTES TO THE ACCOUNTS Continued Ihl Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash within slgnificant risk of change of value. {il Short term creditors are measured at the transaction price. Other financial Ilabllities including bank loans are measured initially at fair value, net of transaction cost5, and are measured subsequently at amortized cost using the effective interest method. 2. JUDGEMENTS IN APPLYING THE ACCOUNTING POLICIES AND KEY SOURCE5 OF ESTIMATION UNCERTAINTY. In the application of the trust's accounting policies, the trustees are require to make Judgments, estlmate5 and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estlmates and underlyin8 assumption5 are revlewed on an on8oln8 basls, Revislons to actounting estimates are recognized in the period in which the estimate Is revlsed If the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. There were no judgement or material estimation uncertalnties affecting the reported financial performance in the current or prior year. 3. REMUNERATION AND EXPENSES OF THE TRUSTEES. None of the Trustees received any remuneration for thelr servlces or reimbursement for expenses Incurred during the year.12021 £nill. 4.EMPLOYEES The charity does not employ any staff. During the year there were 7 Trustees12021- 71.
THE RALPH BATES PANCREATIC CANCER RESEARCH FUND Chari No:1007819 PAGE 9 NOTES TO THE ACCOUNTS Contlnued 5. RESOURCES EXPENDED Unrestricted Funds 2022 2021 Expenditure on Raising Funds Website, online agency costs, event Entry costs and commissions 1,536 1,445 Expenditure on Charitable Activitles Research studentship and tuition fee5 at: St George's University of London Imperial College London Independent Examiners Fees 521 500 Prlnting, Posta8e , Stationery, Telephone and Mlscellaneous Items 301 212 2,358 2,157