CHERRY LODGE CANCER CARE UMITED TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER Z024 Registered Charlty number 1011629 Company number 2700192 ¥AEAZHdI* 1310912025 COMPANIES HOUSE A09
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CHERRY LODGE CANCER CARE LIMITED TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 310ECEMBER 2024 CONTENTS Pa8es Reference and Administrative Detalls Trustees, Report 2-10 Independent Auditorfs Report 11-13 Statement of Financial Activities 14 Balance Sheet 15 Statement of Cash Flows 16 Notes to the Accounts 17-25
CHERRY LODGE CANCER CARE UMITED REFERENCE AND ADMINISTRATIVE DEfAILS Charity number: 1011629 Company number: 2700192 Reglstered office: 23 Union Street Howard House Barnet Hertfordshire EN5 4HY Trustees: Sarah Armitage (Co-chair) Catherine Braddish Dr Katherine Edwards Ico-chalr) Graeme Gibson (Assistant Hon. Treasurer) Carole Manning (Hon. Treasurer) Carol Mccalla Ruth Midgley Iweb editor) Audltor: Geary Partnershlp Chartered Accountants 159a Chase Side Enfield Middlesex EN20PW
CHERRY LODGE CANCER CARE UMITED TRUSTEES, REPORT (Incorporating DIRECTORS, REPORn FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees (who are also Director5 of the Charity for the purposes of the Companies Act) present their annual report together with the accounts of Cherry Lodge Cancer Care Limited for the year ended 31 December 2024. The accounts have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the Charivs deed of trust, the Companies Act 2006, the statutory requirements of the Company's governing docurnent, and the provisions of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard 10211 January 2019}. Mission Statement Cherry Lodge Cancer Care exlsts to enhance and complement the treatment offered to indlviduals living with cancer, their carers, family and friends, within the London Borough of Barnet and South Hertfordshire. The Charity was established by a group of health care professionals and others with personal experience of cancer. The objective of the Charity is to offer care and comfort to those on their cancer journey by providing easy acces5 to specialist information and support along with complementary therapies. The aim is to help improve quality of life, promote well-bein8 and encourage a strong resolve for self-help. The seniice is designed to be person-centred, non-judgemental and available to all in need, on request, completely free of charge for as long as it is needed. Structurei governance and mana8ement The Charlty is constituted under a deed of trust which was adopted on 9 March 1992. The Charity is a company limlted by guarantee as defined by the Companies Act 2006, and is governed by its Memorandum and Articles of Association. The power of appointing and removing Trustees, who are also Directors of the Company, is vested in the members of the Company. The Trustees have the power at any time to appoint any person to be a Trustee either to fill a casual vacancy or as an additional Trustee. However, the total number of Trustees must not exceed a maximum number fixed in accordance with its Articles of Association. Any Trustee appointed shall hold office only until the next Annual General Meeting when they will be eligible for re-election. The Trustees who served durlng the year and up to the date of thls report were: Sarah Armitage (Co-chair) Catherine Braddi5h Dr Katherine Edwards {Co-Chair) Graeme Gibson (Assistant Hon, Treasurer) Carol Mccalla Carole Manning (Hon. Treasurer) Ruth Midgley (Web editor)
CHERRY LODGE CANCER CARE LIMITED TRUSTEES. REPORT, continued FOR THE YEAR ENDED 31 DECEMBER 2024 Strurture, governance and management. continued All Trustees give their time voluntarily and receive no remuneration or other benefits from the Charity. None of the Trustees have any beneficial interest in the Company. All of the Trustees are members of the Company and guarantee to contribute £1 In the event of a winding up. The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. Staff Members Patrons Medical Patrons Olivia Bannon (Cherry Lodge Nurse) Janet Doyle-Blunden Mr Muhammed Al-Dubaisi Alessia Biciocchi Icounsellor) Lady Pamela Kalms, OBE Dr Phllippa Curran Susan Brady {Shop Manager, to Dame Helen Mirren Dr Sian Davies March 20241 Aubrey Rose, CBE Dr Rob Glynne-jones Annys Douglas (Assistant Shop Julia Somerville Dr Andy Nicol Manager) The Right Hon. Theresa Villiers MP Professor Hilary Thomas Nisha Jain {Financial and Fund- Professor Stephen West raising Assistant) Dr Robert Winter Karen Kirby (Cancer Informatio Specialist Nurse, from July 2024) Kirsty Mabb {Macmlllan Cancer Outreach Information Nurse) Sheila Mundy (Shop Assistant) Tina Papasawa (Charity Admin- istrator and Fundraising Events Co-ordinator) Linda Patrick (Operations Manager) Sarah Quilley (Temporary Assistant Manager, sickness cover, to July 20241 Yvonne Shield (Macmillan Home Visiting Service and Volunteer Co-ordinator) Lorraine Takaira (Cancer Inform- ation and Support Secretary to the Nurses) Kim Williams (Shop Manager, from June 2024)
CHERRY LODGE CANCER CARE LIMITED TRUSTEES, REPORT, continued FOR THE YEAR ENDED 31 DECEMBER 2024 Objectlves and artlvltles Cherry Lodge Cancer Care is an independent charity committed to improving the quality of life for people affected by cancer. We work alongside the clinical care of the NHS, with nurse-led services providing specialist information and support as well as complementary therapies and activities. Our approach is holistlc, seeking to address the physical, emotional and psychological needs of people at all stages of their cancer journey. We are also able to support family members, carers and friends, The people who use our services are known as members (not patients, cllents or service users) and the atmosphere in our centre, Howard House in Union Street, High Barnet, is warm, welcoming and unhurried, in contrast to the typical hospital environment. All our services are provided completely free of charge. We endeavour to address the various and often complex needs of people affected by cancer. Cherry Lod8e members benefit from talking about their treatment with someone in addition to their hospital specialists. NHS services are stretched and this has increased the need for the follow-up and supportive seniices we offer. By providing simple'explanations and offering therapies that help minimise side effects, Cherry Lodge can improve patient compliance in attending hospital appointments, treatments and investigations. A diagnosis of cancer can be devastatlng and often causes people to lose confidence. There can also be major challenges further along an individual's cancer journey. To help people cope through difficult times, Cherry Lodge has increased its provision of counselling and hypnotherapy appointments, as well as putting on mindfulne55 sessions and workshops. To meet speclfic needs we have well-established, nurse-led support groups for people with particular cancers, and a carers, group. A further Cherry Lodge objective is to improve well-being through our programme of exercise and leisure activities. All group activities have the added benefit of giving members an opportunlty to meet people in a similar situation to themselves or other5 who are now further along their path to recovery. Through regular attendance, people form friendship groups that provide valuable informal support. Our Outreach service delivers cancer information and support to people who would find it difficult to visit our centre in High Barnet. Public transport can be very challenging for people who are unwell, as well as expensive. Our Outreach nurse holds regular drop-ins in the west of the borough, addressing the health concerns of people from communities that can sometimes be hard to reach. Achievements and performance In planning charitable activities for 2024 the Board of Trustees kept In mind the Charity Commission's guidance on public benefit. Our major objective, as outlined in the Cherry Lodge Mission Statement, is the provision of information and support, complementing the treatment and care provided by the NHS and other agencies.
CHERRY LODGE CANCER CARE LIMITED TRUSTEES, REPORT, continued FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performance, continued Information and support During 2024, Cherry Lodge continued to provide a wide range of information and support services designed to meet our members, needs. They are delivered by cancer nurse specialists, by therapists with appropriate qualifications and Insurance, and by trained volunteers, Up-to-date details of all our current services can be accessed via the Cherry Lodge Cancer Care website.. www.cherr lod ecancercare.or .uk. This report provides only a brief oveTh*iew of our various services (wlth attendance figures for 2024 included), Nurse oppointments Our cancer information nurses offer initial appointments to prospective new members, as well as follow-up appointments to address specific concerns. Appointments can be face-to-face, by telephone or via Zoom. Initial appointments {206} Follow-up appointments: face-to-face (516); phone (3,306) Psychological support To promote emotional well-being, our therapists offer: Counsellin813351 Hypnotherapy {47) Mindfulness sesslons1140} Acupuncture By medically quallfled physiclans. Acupuncture sessions (951) Complementary theropies These therapies complement orthodox treatment by providing relief and relaxation and stimulating the immune response. Massage, retlexolo8y and reiki sessions take place at the centre. Group laughter wellness and sound healing sessions are delivered via Zoom. Therapeutic massage (76) Head and neck massage {40) Reflexology14641 Reikilhealing1205) Laughter wellness Sound healing Support groups Led by Cherry Lodge nurses, these group meetings are for people with specific needs: Lymphoma group (159) Ovarian group116) Men's group142} Moving on group (28) Carers, group190)
CHERRY LODGE CANCER CARE LIMITED TRUSTEES. REPORT, continued FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performance, continued Home visits by befrienders Trained befrienders visit members in thelr own homes to offer emotlonal and practlcal support when it Is difficult to get out. Befriender vislts1445) Outreach Our Outreach nurse, Klr5ty Mabb, will continue to hold regular drop-ins in community centres serving Cricklewood, West Hendon, Colindale, and Burnt Oak. Members seen1351) New people seen {124) Kirsty also facilitates meetings of the Independent Cornflower Cancer Support Group in Burnt Oak. Attendances, from March (72) Group artivities Cherry Lodge offers a range of enjoyable and beneficial group activities, at our centre, off-site venues and via Zoom. Coffee mornings for new member5 These welcoming get togethers are hosted twice monthly by our nurses. Attendances, from October12S) Off-site drop-in coffee mornings Thls is a member-led, drop-in group activity, with weekly meetings at the Open Door Centre In St Albans Road, Barnet. Attendances {29) Knitting group Monthly meetings at the centre for knitters at any skill level. Attendances {29) Exercise closses These professionally led exercise classes, held off-site or via Zoom, have been adapted to sult our members, needs. Plates Circle-dancing Yoga Members, events The Easter Walk and Talk event brought members together to chat and walk around a l-mile circuit in Oakhill Park, fundraising for Cherry Lodge through sponsorship. Participants (301
CHERRY LODGE CANCER CARE LIMITED TRUSTEES. REPORT. continued FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performance. continued Volunteerlng Volunteer support is at the heart of Cherry Lodge and t the heart of the services we provide. Without the commitment of our fantastic volunteers we would not be able to provide all our services free of charge, or raise enough money to fund them. We are extremely grateful to everyone who gives up their time to help us follow our mission. Cherry Lodge volunteers come from many different backgrounds and bring a range of very useful skills. They are recruited, managed and supported by Yvonne Shield, our Volunteers Co-ordinator, who also Manages Home Visiting/Befriending. Volunteers are welcomed, DBS checked, attend an induction course and receive appropriate training. There were 120 volunteers on our books In 2024, covering a range of different roles. Many volunteers make a weekly or monthly commitment, some with dual roles. whereas others help on an occasional basis, for example, at a particular event. Important roles filled by the highest numbers of volunteers were: Fundraising volunteer {291 Shop volunteer (251 Complementary therapist1221 Receptionist (171 Befriender {15) It is not always realised that Cherry Lodge trustees are also volunteers. Following the retlrement of our founder, Dr Margaret Clark, leadership of the Board passed on I" January to co-chairs, Dr Katherine Edwards and Sarah Armitage. Board members In 2024 had experience in business administration, finance, healthcare, law, fundraising, medla and design. Fundraisinq Cherry Lodge Cancer Care could not survive without the generosity of our many supporters. Without them we would not be able to provide our much-needed information and support services, all completely free of charge. We receive no statutory funding. With annual running costs in the region of £470,000 we need to raise Money in multiple ways. For more details about how you can help, please see our website www.cher ecancercar .or Donation5 We are delighted to receive one-off or regular donatlons. The Founder's Appeal and our Lights of Love event are important annual donation opportunities. Numerous individual donations, such as those made 'in memoriam,, to celebrate family occasions and as'thank yous, to Cherry Lodge, add up to a significant sum. Annual total £22,357. Legacie5 We encourage people to think of Cherry Lodge when maklng a will. Leaving money to charity can brin8 Significant tax advantages. Legacy income has made a huge difference to Cherry Lodge's longer-term financial 5ecurity- but it is unpredictable and cannot be relied upon to meet annual running costs. Annual total £133,820.
CHERRY LODGE CANCER CARE UMITED TRUSTEES, REPORT, contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performance. continued Fundraising events Led by Tina Papasawa, our Fundraising Events Co-ordinator, Cherry Lodge fundraisers work hard around the year to put on a varied programme of interesting events. Among the events organised by the fundraising team in 2024 were the Laugh Out Loud comedy night in May, our Pink Tombola in October and the Christmas Fair. Income from fundraising is boosted each year by working with others. Close links have been developed with organisatlons, companies and individuals to help thern put on events to raise money for us. The nature and extent of Cherry Lodge involvement5 varies but is sufficient for us to consider such events to be 'joint' or 'hybrid'. Two major events in 2024 sprung from our long-standing link with Summer Soulstice.. the Heart and Soul Ball in February and the Summer Soulstice festival in June. In April 2024, Cherry Lodge became the chosen charity of DoubleTree by Hilton Elstree, a favoured venue of ours. Other fundraisin8 events in aid of Cherry Lodge are put on independently, with no or little input from us. We are extremely grateful to all our 'third- partrf fundraisers, including Steve Meadham, founder of Psychobilly Kicks Back, and the organisers of regular Cha Nights at the Arkley Club. Annual total £96,257. Sponsorship Another major contribution to our fundraising income is the money raised by people seeking sponsorship for taking part in an exercise event or trying out a new activity. Examples in 2024 Included the Easter Walk 'n' Talk. London Marathon, a Sponsored Swim in QE Boys, pool, and Renie Price's Hang Gliding adventure. Annual total £25,125. The Cherry Lodge Shop Our charity shop in Church Passage continues to be an important source of fundraising income. It is also the public face of Cherry Lodge, raising our profile in the local community. Trading in 2024 was seriously disrupted by the need to close the shop for several weeks so that major repairs could be carried out after a major leak. During this time the opportunity was taken to refurbish the shop before reopening. Since then staff and volunteers have worked very hard to rebuild sales. However, the closure severely impacted profitability for the year. Annual total £72,023. Gift Aid We encourage our supporters to sign up for Gift Aid, allowing us to claim an extra 25p on every £1 donated. Annual refund £17,919. Financial review The trustees report a deficit for the year of £102,732 compared with a surplus of £46,857 in the previou5 year. Total income for the year was £381,589 compared with £465,135 in the previous year. Factors contributing to the reduction were the lower amount of le83cies received and the closure of the shop for several weeks due to flooding.
CHERRY LODGE CANCER CARE LIMITED TRUSTEES, REPORT, continued FOR THE YEAR ENDED 31 OECEMBER 2024 Financial review. continued Total expenditure for the year increased from £449,252 to £470,112. The trustees are keeping a watchful eye on levels of expenditure which are largely a combination of salaries for essential staff needed to provide our services and the necessary costs of operating from Howard House. In addition to the deficit of £102,732, the accounts include a £376,000 write-down of the value of our freehold premlses made necessary by a sharp fall in the value of Union Street properties over the recent period. Cherry Lodge held bank and cash balances of £520,480 {2023 - £614,854) and readily-realisable investments of £871,409 {2023 - £885,618) at 31 December 2024. Of these amounts, approximately one-third has been designated by the Trustees for Specific purposes to secure the present operations of Cherry Lodge for the foreseeable future. Reserves pollcv Cherry Lodge continues to operate in a competitive market for raising funds whether it is from events, retail outlets or general donations. The Trustees have carefully considered the risk factors with re8ard to future income generation, and have agreed that the charity should continue to hold £400,000 in reserves to cover a 12 month period of running costs. This ensures that in the event of a reduction in income or an unexpected expense, the charity can protect its much needed services, whllst sourcing alternative fundlng streams. An additional £156,735 Is set aside for the uses detailed in note 9 to the accounts. Trustees have agreed that the most appropriate policy at present is to maintain all such funds in the form of bank deposits and readily realisable investments. The reserves policy is monitored throughout the year. Trustees are continually reassessing the services and facilities of the charity and looking to its long-term future, both in terms of financial stability and service provision. The future When planning for the future we will be gulded by the principles expressed in our mission statement. We are restyling our publicity materials with the aim of encouraging more people to seek our help. Everything possible will be done to ensure we always deliver top quality services. We will regularly measure our achievements and assess the benefits we have brought to our members. We send huge thanks to everyone who supports Cherry Lodge - staff, volunteers, donors and fundraisers - helping us fulfil our mission.
CHERRY LODGE CANCER CARE LIMITED TRUSTEES, REPORT, continued FOR THE YEAR ENDED 31 DECEMBER 2024 Statement of Trustees, responslbllities The Trustees, who are Directors for the purposes of company law, are responsible for preparing the annual report and the accounts in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company13W the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affair5 of the charitable company and of the incoming resources and application of resources, Including the income and expenditure, of the charitable company for that year. In preparlng those financlal statements, the Trustees are required to: selert suitable accountlng policies and apply them consistently; observe the methods and principles of the Charitie5 Statement of Recommended Practice; make judgments and estimates that are reasonable and prudent,, state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping proper accounting records whlch disclose wlth reasonable accuracy at any tlme the financial position of the charitable company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularltles. Dlsclosure of informatlon to auditors The Trustees have confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information. The Trustees declare that they have approved the Annual Report. Signed on behalf of the Board of Trustees by: Sarah Armitage (Co-chair) Date: 13 May 2025 io
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CHERRY LODGE CANCER CARE UMITED Opinion We have audited the financial statements of Cherry Lodge Cancer Care Limited for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a surnmary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Stondard opplicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the state of the charitable companws affairs as at 31 December 2024 and of Its incomin8 resources and application of resources, including Its income and expendlture, for the year then ended; have been properly prepared in accordance with Unlted Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit In accordance with International Standards on Auditing {UK)(ISAs{UKI) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audlt of the financial statements section of our report. We are independent of the charitable company'in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have f ulfilled our other ethical responsibilities in accordance with these requirements, We believe that the audlt evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concem In auditing the financial statements, we have concluded that the Trustees, use of the 8oin8 concern bas55 of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilitles and the responsibillties of the Trustees with respect to going concern are described In the relevant sections of this report. Other Information The other information comprises the information included in the Trustees, Report, other than the financial statements and our auditorfs report thereon. The Trustee5 are responsible for the other information contained within the Trustees, Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material 11
Independent Auditorfs Report to the members of Cherry Lodge Cancer Care Limited, continued Other information. continued inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report In this regard. Opinlons on other matters presrrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given In the Trustees, Report (incorporatlng the dlrectors, report) for the financial year for which the financial statements are prepared is con51Stent with the financial statements,, and the directors, report has been prepared in accordance with applicable legal requirements. Matter5 on whlch we are required to report by exceptlon In the light of the knowledge and understanding of the charitable company and it5 environment obtained in the course of the audit, we have not identified material mlsstatements In the directors, report. We have nothing to report in respect of the following matters in relation to which the Companie5 Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branche5 not visited by us; or the financial statements are not in agreement with the accounting records and returns,. or certain disclosures of directors. remuneration specified by law are not made; or we have not received all thè Information and explanations we require for our audit,. or the Trustees were not entitled to prepare the financial statements In accordance wlth the small companies, regime and take advantage of the small companies, exemptions in preparing the directors, report. Responsibllltles of Trustee5 As explained more fully in the Statement of Trustees, Responsibilities set out on pages 9 and 10, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the flnancial statements, the Trustees are responsible for assessing the charitable companvs ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Audltorfs responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements a5 a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in 12
Independent Auditorfs Report to the members of Cherry Lodge Cancer Care Limited, contlnued Auditorfs responsibilities for the audit of the financial statements, contlnued accordance with ISAS (UK) will always detect a material misstatement when it exists. Mi5Statements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the econornic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedure5 in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed in the following paragraph. Procedures capable of detectin8 irregularitles performed during our audit included.. tests to ensure all bank transactions have been accounted for and bank balances reconciled; examination of donor correspondence, website descriptions of fund-raising events and initiatives, shop till records and returns, gift aid records, and investment manager5, Statements, to ensure that income is fully recorded; verification of legitimacy of expenditure by reference to invoices, statements, payroll records and correspondence; examination of title records to ensure assets have not been misappropriated; tests of analysis to satisfy ourselves that ledger balances are reasonable and In line with expectations. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leadlng to a material misstatement in the financial statements or non-compllance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurrin8 due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentatlon. A further description of our responsibi15ties for the audit of the financial statements is provided on the Financial Reporting Council's website at www.frc.org.uk/auditorslaudit-assurancelauditor-s-responsibilities- for-the-audit-of-the-fi/description-of-the-auditor%E2O/080%99s-responsibilities-for. This descriptlon forms part of our auditorfs report. Use of our report This report is made solely to the charitable companrfs members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable compan¢5 members those matters we are required to State to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than tl ie ili(Iritable LUlllPdllV <11 Id Ilie charitable LOTnp¢lllV'S TTiembers as a budy, 'foi our ¢iudil work, for tkiis report, or for the opinlon we have formed. drew Geary 85c FCA Senior Statutory Auditor for and on behalf of.. Geary Partnership statutory Auditor and Chartered Accountants 159a Chase Side, Enfield, EN2 OPW Date: 13 May 2025 13
CHERRY LODGE CANCER CARE LIMITED STATEMENT OF FINANCIAL ACTIVITIES (Incorporating INCOME AND EXPENDITURE ACCOUNn FOR THE YEAR ENDED 31 DECEMBER Z024 Total funds 2024 Total funds 2023 Unrestrirted Designated Restricted fund5 funds funds Notes INCOME AND EXPENDITURE Income from.. Donations and legacies Charitable activities Other trading activitles Investments 174,096 101,382 72,023 14.088 174,096 121,382 72,023 14,088 224,781 142,538 93,240 4,576 20,000 Total income 361,589 20,0(YJ 381,589 465,135 Expendlture on.. Raising funds Charitable activities 160,998 242,845 2,239 64,030 163,237 306,875 152,484 296,768 Total expenditure 403,843 66,269 470,112 449,252 Net Income/(expenditure) before net galnslllossesl on Investments 142,254 (46,269} {88,5231 15,883 Net 8ains/{lossesy on investments {14,2091 (14,209) 30,974 Net Income/(expenditure) {S6,463} 146,2691 (102,732) 46,857 Transfers between funds (10,587) 10,587 Other recognised gains/(losse$) Loss on revaluation of freehold property (376,000) 1376,000) Net movement In funds (443,0501 135,682) 1478,732) 46,857 RECONCILIATION OF FUNDS Total funds brought forward at l January 2024 1,697,681 556,735 242,235 2,496,651 2,449,794 Total fund5 carried fonNard at 31 December 2024 1,254,631 556,735 206,553 2,017,919 2,496,651 14
CHERRY LODGE CANCER CARE LIMITED BALANCE SHEET AT 31 DECEMBER 2024 2024 2023 Notes Flxed assets Tangible assets Investments 617,663 871,409 996,956 885,618 1,489,072 1,882,574 Current assets Stock Debtors Cash at bank and in hand 1,000 46,198 520,480 1,000 33,923 614,854 567,678 649,777 Creditots: amounts fallln8 due wlthln one year {38,8311 135,7001 Net current assets 528,847 614,077 Total assets less current Ilabilities 2,017,919 2,496,651 Net assets 2,017,919 2,496,651 Funds Unrestricted funds: General fund Designated funds Revaluation reserve Investment fair value resenle 1,123,732 556,735 143,088 112,189) 1,097,858 556,735 597,803 2,020 1,811,366 206,553 2,254,416 242,235 Restricted funds 2,017,919 2,496,651 Approved by the Board of Trustees on 13 May 2025 and signed on their behalf by: Sarah Armitage Trustee Carole Manning Trustee Company number: 2700192 15
CHERRY LODGE CANCER CARE LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Net cash (used In)/generated by operatlng artivities 11 (93,252} 1,491 Cash flows from investing activities: Proceeds from sale of fixed assets Purchase of fixed assets Purchase of investments 7,000 (24,421} (250,0001 11,1221 Net cash (used in> investing activities (1,1221 {267,421} Net Idecrease) in cash and cash equivalents 194,374} (265,930) Cash and cash equivalents at beginning of year 614,854 880,784 Cash and cash equivalents at end of year 520,480 614,854 Reconciliation to cash at bank and In hand Cash at bank and in hand Cash equivalents 520,480 614,854 Cash and cash equivalents 520,480 614,854 16
CHERRY LODGE CANCER CARE LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 I ACCOUNTING POLICIES a) Ba$15 of preparatlon of accounts The Charity is a public benefit entity. Its accounts have been prepared under the historlcal cost convention as modified by the revaluation of land and buildings and investments, and in accordance with 'Accounting and Reportin8 by Charities: Statement of Recommended Practice, (Charities SORP) applicable to charities preparin8 thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019), and the Companies Act 2006. b) Income Income is included in the Statement of Financial Activities when the Charity is legally entitled to the income, its receipt is probable, and the amount can be quantified with reasonable accuracy. Grants received are accounted for once conditions for receipt have been complied with, Where there are no conditions, grants are accounted for when due. Legacies are accounted for when the conditions of probability of receipt, measurement and entitlement have been met. ¢) Expendlture Expenditure is accounted for on an accruals basls. Costs are allocated between the expenditure categories of the Statement of Financial Actlvlties on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis. Expenditure on raising funds comprises the costs associated with fundraising and the costs of trading activities. Expenditure on charitable activities comprises all expenditure incurred directly in pursuance of the ChariVs charitable objectives. Governance costs are those tosts Tncurred in connection wlth administratlon of the Charity in respect of compliance with constitutional and statutory requirements. d) Tangible fixed assets and depreciation Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Gains or losses arising on revaluation are taken to a revaluation reserve. Depreciation is provided at rates calculated to reduce the value of each asset to its estimated residual value over its expected useful life, as follows: Freehold land- not depreciated Freehold buildings- 2% straight line Motor vehicles- 20% on reducing balance Computer equipment- 20% on reducing balance Fixtures, fittings and equipment- 20% on reducing balance 17
CHERRY LODGE CANCER CARE UMITED NOTES TO THE ACCOUNTS, contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 I ACCOUNTING POUCIES, continued e) Investments Listed investments are stated at market value at the balance sheet date. Gains or losses on revaluation during the year are reflected through the statement of financial activities and the fair value reserve. fj Stock Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. g) Financial instruments A financial asset or a financial liability is recognised only when the Charity becomes a party to the contractual provi5i0ns of the instrurnent. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, when it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. h) Lease rentals Operating lease rentals, where substantially all of the risks and rewards of ownership remain with the lessor, are char8ed to the Statement of Financial Activities on a straight line basis over the period of the lease. l) Pensions The Charlty operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the Charity. The annual contributions are charged to the Statement of Financial Activities as they fall due. j) Fund accountin8 Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. The revaluation reseD4e is part of unrestricted funds. Designated funds are set aside out of unrestrirted funds by the Trustees for specific purposes. Restricted funds can only be used for particular restricted purposes Wlthin the objerts of the Charity. RestriC(ion5 arise when specified by the donor or when funds are raised for particular restricted purposes. Furtherexplanation of the nature and purpose of each fund is included in note 9 to the accounts. k) Taxation The Charity is exempt from corporation tax on its charitable attivities. 18
CHERRY LODGE CANCER CARE UMITED NOTES TO THE ACCOUNTS, contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 2 INCOME Unrestricted Designated Restricted Funds funds funds Total 2024 Total 2023 Donations and legacies Donations Legacies Gift Aid tax rebate 22,357 133,820 17,919 22,357 133,820 17,919 15,883 180,125 28,773 174,096 174,096 224,781 Charltable artivltles Fundraising events 101,382 20,000 121,382 142,538 Other trading activities Shop income and merchandising 72,023 72,023 93,240 Investments Interest and dividends receivable 14,088 14,088 4,576 3 EXPENDITURE Unrestricted Designated Restricted Fund5 fund5 funds Total 2024 Total 2023 Ralsing funds Costs of fundraising Shop costs 67,391 93,607 67,391 95,846 58,364 94,120 2,239 160,998 2,239 163,237 152,484 Charltable actlvltles Horne visits and outreach Information and support Therapies and patient care Governance costs (including auditorfs remuneratlon £3,60012023 - £3,420) 53,175 55,120 113,758 36,681 89,856 55,120 141,107 94,467 52,603 143,374 27,349 20,792 20,792 6,324 242,845 64,030 306,875 296,768 Nuii-dudii fees paid to ttrie auditor foi. ull)ei prufe55ioiial serviLes PiUViLleLI amounted lo £2,49612023 - £1,852) The rent charge for the year in respect of the operating lease referred to in note 12 below amounted to £23,145 (2023- £26,346). 19
CHERRY LODGE CANCER CARE LIMITED NOTES TO THE ACCOUNTS. contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 3 EXPENOITURE, contlnued Included in expenditure above are support costs analysed as follows: Staff Property Office Gover- Costs running costs nance Total 2024 Total 2023 Other Raising funds Charitable activities 96,544 36,345 45,827 24,378 30,384 3,851 136,740 3,600 18,282 122,471 130,736 125,721 142,371 60,723 30,384 3,600 22,133 259,211 256,457 4 STAFF AND TRUSTEES 2024 2023 staff cost5: Wages and salaries Social security costs Pension costs 274,128 17,452 12,466 247,567 15,622 12,129 304,046 275,318 The average number of employees during the year was 1212023- 12). There were no employees whose annual remuneration was £60,000 or more12023- none). None of the Trustees, or any persons connected with them, received any remuneration during the year {2023 - £nill. There were no Trustees, expenses paid for the year12023- £nill. 20
CHERRY LODGE CANCER CARE LIMITED NOTE5 TO THE ACCOUNTS, continued FOR THE YEAR ENDED 31 DECEMBER 2024 5 TANGIBLE FIXED ASSETS Land and buildings Computer equipment Motor Flxt..fittings & vehicles & equipment Total Cost/valuatlon At l January 2024 Additions at cost Disposals Revaluation adjustment 1,000,000 37,016 1,122 18,133 11,264 1,066,413 1,122 {400,0001 (400,0001 At 31 December 2024 600,000 38,138 18,133 11,264 667,535 Oepreciation At l January 2024 Charge for the year Eliminated on disp05als Revaluation adjustment 24,000 31,323 1,363 3,626 2,901 10,508 151 69,457 4,415 (24,0001 {24,0001 At 31 December 2024 32,686 6,527 10,659 49,872 Net book value At 31 December 2024 600,000 5,452 11,606 605 617,663 At 31 December 2023 976,000 5,693 14,507 756 996,956 The Charity's freehold premises at 23 Union Street, Barnet were revalued by the Trustees at £600,000 at 31 December 2024, being the amount at which the premises were professionally valued by Barnet Ross, Chartered Sup4eyors, on an existing use basis as at 26 February 2025. The net deficit of £376,000 on revaluation has been charged to the revaluation reserve. The historical cost of land and buildings at 31 December 2024 was £456,912 {2023 - £456,912). The land and buildings depreciation charge for the year on a historical cost basis would be £6,021 (2023 - £6,021}, and the net book value of land and buildings at 31 December 2024 on a historical cost basis would be £438,849 {2023 £444,870}. Land and buildings includes land with a cost of £155,85212023 - £155,852) and a valuation of £204,65912023 £400,000) which is not depreciated. 21
CHERRY LODGE CANCER CARE LIMITED NOTES TO THE ACCOUNTS, continued FOR THE YEAR ENDED 31 DECEMBER 2024 6 INVESTMENTS 2024 2023 Llsted investments and deposits: Market value at beginning of year Investments purchased in year, at cost Net {loss)/gain on revaluation at year-end 885,618 604,644 250,000 30,974 (14,2091 Market value at end of year 871,409 885,618 Historical cost at end of year 883,598 883,598 7 DEBTORS 2024 2023 Prepayments and accrued income Other debtors 13,108 33,090 13,367 20,556 46,198 33,923 8 CREDITORS: Amounts falllng due wlthln one year 2024 2023 Accruals and other creditors 38,831 35,700 22
CHERRY LODGE CANCER CARE UMITED NOTES TO THE ACCOUNTS, continued FOR THE YEAR ENDED 31 DECEMBER 2024 9 STATEMENT OF FUNDS Brought Forward Incomlng resources Resources expended Transfers inl(out) Carrled fOard Unrestrlcted funds Generolfvnd 1,097,858 361,589 1403,843} 68,128 1,123,732 Revaluatlon reserve 597,803 1376,0001 178,715) 143,088 Folr value reserve 2,020 (14,209) {12,1891 Deslgnatedfunds.. Refurbishment Fund Office Space Shop Upgrade Outreach Recruitment Development of Fundraising Marketing and Advertising Meeting of annual costs Sunflower Group 22,110 30,000 15,000 40,000 10,000 25,000 5,000 400,000 9,625 22,110 30,000 Is,000 40,000 10,000 25,000 5,000 400,000 9,625 556,735 556,735 The funds of the Charity include the followlng designated funds which have been set aslde out of unrestrlcted funds by the Trustees for specific purposes: Refurbishment Fund- for the refurblshment of the Charivs prernises at Howard House, 23 Union Street, Barnet. The Trustees have acknowledged that the Charivs premises are in need of upgrading to ensure the environment for members and staff remains at a high standard. Office Space - Despite the refurbishment of Howard House, it has been agreed that additional office space is still required, This level of funding should meet all expenses this is likely to entail, including any possible refurbishment. Shop Upgrade- This expenditure will enable the Charivs retail outlet to meet the ever growing competition and the shop provide5 the highest stsndards for its shop staff, volunteers and customers. Outreach- £40,000 has been designated to fund the possible expansion of our outreach programme as well as the recruitment of an additional cancer information nurse. Recruitment- Staff capacity will be regularly monitored and this account will meet any recruitrnent expenses for both current Posts and additional new appointments. Development of Fundraising- A root and branch review of all aspects of fundraising is to be undertaken to assist in the Charity obtsining long-term financial stability. This fund will enable Trustees to meet the costs of appointing a consultant to support them throughout the review period. 23
CHERRY LODGE CANCER CARE UMITED NOTES TO THE ACCOUNTS, continued FOR THE YEAR ENDED 31 DECEMBER 2024 9 STATEMENT OF FUNDS, continued Marketing and Advertising- to enable the marketing of not only the Charity, but our events and shops, to be done to the highest standard. The fund will also cover any possible changes to our website and newsletter. Meeting of annual costs - When considerlng all the risk factors, Trustees have agreed the Charity should hold £400,000 in reser¥es to cover a 12 month period of running costs. This will ensure that in the event of a reduction in income or an unexpected expense, the Charity can protect its Much needed seniices, whllst sourcing alternative fundlng Streams. Sunflower Group- funds set aside for a satelllte cancer support group operatlng in Burnt Oak. Brought Forward Incomlng resources Resources expended Transfers In/(out) Carried forward Restrlcted funds Summer Soulstice Visual Healing and Sound Therapies Girlies Raising Hope Lloyds Exerclse Classes Outreach Edith Senett legacy 8,333 20,000 138,920) 10,587 5,000 11,387 2,872 15,000 199,643 5,1J)O 11,387 2,872 15,000 172,294 127,349) 242,235 20,000 {66,2691 10,587 206,S53 The funds of the Charity include the following restricted funds comprising unexpended balances of donations and grants held on trust for specific purposes: Summer Soulstice a fund made by the annual Summer Soulstice event to sponsor the Charity's van and to contribute to the salary of an Outreach Nurse. Visual Healing and Sound Therapies - a fund for the introduction of visual and sound therapies to benefit the Charity members. Girlies Raising Hope a fund for the acquisition and preparation of body product packs as a welcorne gift.to members undertaklng therapies. These packs are tallored to the treatment being undertaken by each member. Lloyds Exercise Classes- a fund for the setting up of exercise classes for the Charity members. Outreach- a fund for the expansion of our outreach programme. Edith Senett Legacy- a fund to contribute toward the salaries of three staff members. 24
CHERRY LODGE CANCER CARE UMITED NOTES TO THE ACCOUNTS, continued FOR THE YEAR ENDED 31 DECEMBER 2024 10 ANALYSIS OF NET ASSETS BETWEEN FUNDS General Designated Restricted Revaluatlon fund funds funds reserve Fair value reserve Total funds Tangible fixed assets Investments Current assets Creditors due within one year 474,575 326,863 361,125 (38,831) 143,088 617,663 871,409 567,678 138,831) 556,73S 112,189) 206,553 1,123,732 S56,735 206,553 143,088 (12,189) 2,017,919 11 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net income/lexpenditure) as shown on the Statement of Financial Activities Adjustments for., Depreciation (Profit) on sale of fixed assets Net {gainsl/losses on Investments (Increase)decrease in debtors (Decrease)/increase in creditors (102,732) 46,857 4,415 17,240 15,368) 14,209 (30,974) 112,275> (20,223) 3,131 16,0411 Net cash (used inl/generated by operating activities 193,252) 1,491 12 COMMITMENTS UNDER OPERATING LEASES At the balance sheet date, the Charlty had annual commitments under non-cancellable operating leases as follows: Land and buildings 2024 2023 Expiry date: After more than five years 29,789 29,789 13 AUDITORS, ETHICAL STANDAROS In common with many charities of our size and nature, we use our auditors to assist with the preparation of the accounts, as allowed under the FRC Ethical Standard 'Provisions Available for Audits of Small Entities,. 25