Chari Number 1007819 THE RALPH BATES PANCREATIC CANCER RESEARCH FUND UNAUDITED ANNUAL REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENDED 315T MARCH 2023
THE RALPH BATES PANCREATIC CANCER RESEARCH FUND Chari no: 1007819 CONTENTS PAGE I CONSTITUTION, TRUSTEES AND ADVISORS PAGE2-3 TRUSTEES'REPORT PAGE4 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 Char No: 1007819 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 TRusfEE SIR PETER BLAKE. C8E. RDI.RA TRUSTEES Mrs. Vir8inia Bates Dr John Glees MD, FRCR Mr Michael Bridge FCA Mrs. Sharon Sullivan Mr. Nigel Baly. Bsc. MRICS Mr. Les Biggs ACIS (Secretary} BANKER HSBC Bank PLC, 9 Hlgh Street. Ketterln& Northants, NN16 8ST INDEPENDEprf EXAMINER Mr C W Soper FCCA, 20 Furzen Close, Dunstable.Beds.LU6 3EN LEGAL ADVISERS Edwin Coe, 3 Stone Building5, Llncolns Inn. London. WC2 3TH REGISTERED ADDRESS St Georges University of London. Jenner Wing, CranmerTerrace, London, SW170RE ADMINISTRATION ADDRESS 317 Old Bedford Road, Luton. Beds. LU2 78L
THE RALPH 8ATES PANCREATIC CANCER RESEARCH FUND Char No:1007819 PAGE 2 TRUSTEES, REPORT The Trustees are pleased to present their report for the year ended 31 March 2023. OBJEcfivES AND ORGANISATION OF THE CHARITY The Charity was constituted under a Trust Deed dated 17 January 1992, the principal objectives of which are: "Both capital and Income of the Fund shall be applied by the Trustees for all or any of the following purposes:. al To promote research into pancreatic canr and associated diseases, dlsabilities and conditions by way of grant. remuneration, loans, or other assistance for persons, hospitals, universities, colleges, institutions, corporate bodies, 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 pancreotic cancer sufferers either directly or through any hospital. charity, instltution or other party engaged in such work. d) To establish, endow, fund or asslst fellowship bursaries or scholarships linked with the name Ralph Bates and tenable by persons en8aged wholly or malnly In pancreatic cancer research or treatment. The Trustees who served in the year are set out on Pa8e l of the financial statements. There are no subcommittees. The existing Board of Trustees is responsible for appointing other Trustees. When considering candidates, the Trustees take into account any profe551onal qualifications, clinical OT Other relevant experience and the ¢3ndidate's Potential contribution to the Charity. The Trustees have been mindful of, and ensured that, the Charity ha5 acted in accordan with the Charity Commission's guidante as pertains to public benefit. REVIEW OF AcrivmES ACHlEVEMEPs AND FUTURE PLANS Research work at St George's Unlver5ity of London gradually returned to normal after the Coronavirus pandemic. Unfortunately. one of our key research assistants moved to Bath University to complete her PhD, but the team continued under the dlrert control of our Research Leader. A replacement started with us in April 2023. As we mentloned last year, the Team had some encouraging results when pancreatic ce115 were treated with a combination of various dru8s. including gemcitabine Ithe usual treatment) and research work in thi5 field continues. Donations have picked up from the period affected by covid but wirh contlnuing tight ontrol of expenses. we feel able to continue this important research. During this financial year, we participated in an appeal for funds to support research at Oxford University. The donations received are restrirted to research being carried out by specific team and were made in memory of Richard Nevill, who was undergoing private treatment for pancreatic cancer administered by this team. Unfortunately, he died during the appeal. but the Oxford Team will continue their research funded by donations made in Richard's name.
THE RALPH BATES PANCREATIC CANCER RESEARCH FUND Char No:1007819 PAGE 2A TRUSTEES, REpoKf- Continued. In April 2023, as stated above, a new research assistant was appointed and a new agreement with St. Georges wa5 commenced. The agreement last5 for three years from April 1ST 2023 and is for a total cost of £90,LX)3. FINANCIAL REVIEW During the year donation5 and other income amounted to £70,435 12022 £26.9231 and expenditure was £5,463 12022 - £2,359) leaving a Surplus of £64,97212022 surplus of £24,564), which is transferred to the Unrestricted Funds brought forward which stand at £46,557 and restricted £54,664, totaling £101,22112022- £36,249). After making appropriate enquirie5 the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thls includes consideration of the impact of COVID-19. Fundraising traditionally varies from year to year but has been affected by COVID-19 howeveT It is too early to determine the lon8er term impact on fund rai5in8. The pTinclple Item of expen¢Jiture 15 the funding of research whlch has itself been affected by COVID-19 and has delayed costs. Even If the Charity received no further income Iwhich the Trustees regard as m05t unlikelvl the Charity can sustain a comparable level of activity for the next two years at least. For this reason, they contlnue to adopt the 80ing concem basi5 In preparlng the financlal statement5. The Trustees recogn12e that whilst there is some uncertainty, there is not deemed to be a materlal uncertainty on the charitvs ability to continue as a going concern.
THE RALPH BATES PANCREATIC CANCER RESEARCH FUND Char No:1007819 PAGE 3 TRUSTEES, REPORT- Continued. RESERVES POLICY The Trustees attempt to retain income and reserves to enable the funding known and potential expenditure of future research into pancreatic cancer and associated diseases, disabilitie5 and conditions. RISK MANAGEMENT The Trustee5 have assessed the major risks to which the Charity is exposed, In partlcular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate the Charity's exposure to the major risks. Thls Includes consideration in 2022-2023 and 2021-2022 of the impart of COVIDI9. Si8ne ol the Board L R BIGGS- Trustee Dated: 11 SLfYLH7>cL Zoz3
THE RALPH BATES PANCREATIC CANCER RESEARCH FUND Char No:l(M17819 PAGE 4 INDEPENDENT EXAMINERS REPORT I report to the trustees on my examination of the accounts of the Charty for the year ended 31 March 2023, which are set out on pages 5 to 10. This report is made solely to the Charitys Trustees, as a body. in accordance with Regulation 31 of the Charities IAccounts and Reports) Regulations 2008. My work has been undertaken so that I mi8ht state to the Charitys Trustees those matters l am required to state to them in an Independent Examinerfs report and for no other purpose. To the fullest extent permitted by law. I do not accept responsibility to anyone other than the Charitys Trustees as a body, for my work, for this report. or the statement I have made. RESPONSIBIUTIESAND BASIS OF REPORT As the Charity Trustees you are responsible for the preparatlon of the accounts In accordance with the requirements of the Charities Att 20111.the Acr"). I report in respect of my examlnation of the Charit¢s Accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all applicable DSrectlons given by the Charity Commission under section 14515llbl of the Art. INDEPENDENT EXAMINEWS STATEMENT I have completed my examination. I confirm that no materlal matter5 have come to my attentlon in connection with the examinatlon 8lving me cause to belleve: al Accountln8 record5 were not kept in respect of the Charity as require by sectlon 130 of the Act,. or bl The account5 do not accord with those records,, or cl The accounts do not comply with the accounting requirements concerning the form and content of the accounts set out in the Charities IA¢counts and Reportsl Regulation5 2008 other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an Independent examination; or dl The actounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reportSng charities applicable to charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and the Republic of Ireland IFRS1021. I have no concerns and have come across no other matters In connection with the examlnation to which attention should be drawn in this report in order to enable a proper understandln8 of the account5 to be reached. C W SOPER FCCA Chartered Certified Accountant 20 Furzen Close Dunstable LU6 3EN Dated.. K2 S fTrikLkn2S
RALPH BATES PANCREATIC CANCER RESEARCH FUND Cha No:1007819 PAGE 5 FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31st MARCH 2023 As Restrjted Total Fund5 2022 Unrestrirt Restricted Funds Funds 2023 2023 Total Funds 2023 INCOME FROM Donatlons and Legacies I Inc Gift Aid) Investment Income £15,014 £55,163 £191 £67 £70,177 £258 £26,911 £12 TOTAL £15,205 £55,230 £70,435 £26,923 EXPENDITURE ON RaisSn8 Funds Charltable Activities £2.940 £1.958 £566 £3,505 £1,958 £1,510 £849 TOTAL £4,897 £566 £5,463 £2,359 NEf INCOMEIEXPENDMJRE £10,308 £54,664 £64,972 £24,564 FUNDS BALANCE5 8IFwd £36,249 £36,249 £11,685 FUNDS BALANCES CIFwd £46,557 £54,664 £101,221 E36,249 All amounts derive from continuing activities. The statement of flnancial activities includes all gains and10sses reco8nised in the year.
RALPH BATES PANCREATIC CANCER RESEARCH FUND Chari No:1007819 PAGE 6 BALANCE SHEET AS AT 31 MARCH 2023 Note 2023 2023 2022 2022 CURRENT ASSErs Debtors Cash at Bank and in Hand £2,926 £110.786 £2,831 £65,413 £113,71Z £68,244 CREDITORS Amounts Falling due within one Year £12,491 £31,995 NFf CURRENT ASSErs £101,221 £36,249 Amounts Falling due after more than one yea £0 £0 NET AssErs £101,221 £36,249 Represented bv: UNRESTRicfED FUN05 RESTRICTED FUNDS io io £46,058 £55,163 £101,221 £36,249 £0 £36,249 The financial statements were approved and authorised for issue by the Trustees on: V Bates.. ..Chairperson L R Biggs........,............ -.Trustee
THE RALPH BATES PANCREATIC CANCER RESEARCH FUND Char No:1007819 PAGE 7 NOTES TO THE ACCOUNTS I. ACCOUNTING POUCIES lal 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 Practice applicable to the charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland I the FRS 102 Charities SORPI. The charity constitutes a public beneflt entity as deflned by FRS 102. The financlal 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. Thls departure ha5 involved following the Charities SORP IFRS 1021 publlshed l January 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practlce effective from l April 2005 which has been withdrawn. Ibl Goin8 Concem The Trustees confirm that at the time of approving the flnancial Statements, there are no material uncertainties regarding the Charity's ability to contlnue in operational existence for the foreseeable future. In arrlving at this conclusion, The Trustees have taken account of current and antlcipated flnancial performance in the current economic conditlons, its Corporate Plan and its reserves position as referred in the Trustees report. Icl Donations are included in the statement of financial activities when received, except donations from sponsorship of events whlch are accounted in the year In which the event takes plate. Bank interest is included in the statement of flnan¢ial actlvitles on the basls of the amount receivable in respect of each financial year. Idl Expenditure is included in the financial statements when incurred, except costs related to fund raising events whlch are accounted for in the year in which the event takes place. Grants for research are included when a legal obligation arises. lel Restritted funds comprise monies received subject to specific condltions required by the donor and bindin8 on the Trustees and relate to a specific research project, Unrestricted funds are made up of all other donations and interest and are for general use. lfj The charity only has financial assets and liabilities that qualify as basic financial Instruments. Basic financial instrument5 are initially recognized at transaction value and subsequently measured at their settlement value. 181 Short term debtors are measured at tran5artion price, less any impairment. Loans receivable are measured Initially at a fair value, net of transaction costs, and are measured subsequently at amortized cost using the effertlve interest method, less any impalmient.
THE RALPH BATES PANCREATIC CANCER RESEARCH FUND Char No:1007819 PAGE 8 NOTES TOTHE 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 liquld investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash withln significant risk of change of value. lil Short term creditors are measured at the transaction price. Other financial liabilitie5 including bank loans are measured inttially at fair value, net of transattlon costs, and are measured subsequently at amortized cost using the effective interest method. 2. JUDGEMENTS IN APPLYING THE ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY. In the application of the trusvs accountlng pollcles, the trustee5 are require to make Judgments, estimates 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 estimates and underlylng assumptions are reviewed on an ongoing basis. Revisions to accountin8 estimates are reco8nized in the period in which the estimate Is revised if the revislon affects only that period or in the period of the revision and future perlods if the revision affects both current and future perlods. There were no judgement or material estimation uncertsinties affectlng the reported financial performance in the current or prior year. 3. REMUNERATION AND EXPENSES OF THE TRusfEES. None of the Trustees recelved any remuneration for their services or reimbursement for expenses Incurred during the year.12022 - Enlll. 4.EMPLOYEES The charity does not employ any staff. During the year there were 7 Trustees12022- 71.
THE RALPH BATES PANCREATIC CANCER RESEARCH FUND No:1007819 PAGE 9 NOTES TO THE ACC ufrThs Contlnued S. RESOURCES EXPENDED Unrestricted Funds 2023 2022 ExndItUre on Raising Funds Webslte, onllne a8ency costs. event Entry costs and commissions 2,515 1.536 Expenditure on Charitable Activities Research studentship and tuition fees at: St Geor8e's University of London Imperial College London 1,958 Independent Examiners Fees 500 521 Printlng, Postage , Stationery, Telephone and Miscellaneous Items 490 301 5,463 2,358
RALPH BATES PANCREATIC CANCER RESEARCH FUND Chari No:1007819 PAGE 10 Notes formln8 Part of the Flnanclal Statements foi the Year Ended 31 March 2022-1 Contlnuedl 6 DEBTORS 2023 Gift Aid Receivable Prepaid Expenses Stocks 2022 1,909 £922 £2.926 £2,926 E2.&31 7 CASH AND CASH EqUIVALeNT5 2023 2022 Cash at Bank and In Hand £120.786 £65,413 8 CREDITORS: AMOUNTS FALU14G DUE WITHIN thYE YEAR 2023 2022 Ac¢ru4ls Other Credltors £500 £11,991 £s £31,495 £12,491 £31995 9 CREDITORS.. AMOUNTS FALLING WE AFTER MORE THAN ONE YEAR 202J 2022 Other Credltors 10 FUNDS 2023 2022 Unrestrlcted Rèstrltted £46.058 £55,163 £101221 £36.249 £36,249