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← Roy Castle Lung Cancer Foundation

2024-12-31-accounts

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Consolidated Statement of Financial Activities for the year ended 31 December 2024

The Registered Charity Number is England & Wales 1046854 Scotland SC037596 Isle of Man 006171F

Roy Castle Lung Cancer Foundation

(A Company Limited by Guarantee)

Trustees’ Report and Consolidated Financial Statements

For the year ended 31 December 2024

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Contents

Page Number
Reference and Administration Details 1 - 2
Trustees’ Annual Report 3 – 33
Report of the Independent Auditors 34 – 38
Consolidated Statement of Financial Activities 39
Charity Only Statement of Financial Activities 40
Consolidated Balance Sheet as at 31 December 2024 41
Charity Only Balance Sheet as at 31 December 2024 42
Consolidated Statement of Cash Flows 43
Charity Only Statement of Cash Flows 44
Notes to the Cash Flow Statement 45 – 46
Notes to the Financial Statements 47 - 80

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Reference and Administrative Details For the Year Ended 31 December 2024

Directors and Trustees

The directors of the charitable company (the Charity) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.

The trustees serving during the year and since the year end were as follows:

Chairman: Max Steinberg CBE Founder and President: Professor Raymund J Donnelly MBE FRCS (resigned 11 December 2024) Treasurer and Vice Chair: Euan Imrie

James E Couton David Gilligan (resigned 27 February 2024) Anthony Coombs (resigned 11 December 2024) Martin Grange (resigned 28 August 2024) Alison Lobb Alyson Chadwick Mandee Lucas Alastair Machray Cathy Brokenshire Emma O’Dowd (appointed 27 February 2024) Jane Mullin (appointed 28 August 2024) Donna Brenchley (appointed 11 December 2024) Euan Aitken (appointed 18 March 2025)

Company Secretary Paula Chadwick

Senior Management Team Paula Chadwick (Chief Executive) Michael Grundy (Deputy Chief Executive & Director of Retail & Fundraising, was Finance Direction until 31 December 2024) Wioletta Borawska (Finance Director since 1 January 2025) Jenny Lloyd (Director of Fundraising) Dr Jesme Fox (Medical Director) Lorraine Dallas (Prevention, Information & Support) Rachel Avery (Marketing & Communications)

Principal and Registered Office Cotton Exchange Building Old Hall Street Liverpool L3 9LQ

Company Registration Number 03059425 (England and Wales)

Charity Number 1046854 (England and Wales) SC037596 (Scotland)

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Roy Castle Lung Cancer Foundation – Company Number 03059425

Reference and Administrative Details For the Year Ended 31 December 2024

Professional Advisers:
Independent Auditor Murray Smith LLP
Chartered Accountants
Statutory Auditors
Darland House
44 Winnington Hill
Northwich
Cheshire
CW8 1AU
Bankers Barclays Bank plc
Liverpool City Business Centre
Lord Street
Liverpool
L2 1TD
NatWest Bank Plc
Liverpool Customer Service Centre
Stevenson Way
Wavertree
St Helens
L13 1NW
Investment Bankers Rathbones
Port of Liverpool Buildings
Pier Head
Liverpool
L3 1NW
Solicitors Brabners Chaffe Street
Horton House
Exchange Flags
Liverpool
L2 3YL
Jackson Lees
3rdFloor Walker House
Exchange Flags
Liverpool
L2 3YL

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Roy Castle Lung Cancer Foundation – Company Number 03059425

Report of the Trustees For the Year Ended 31 December 2024

Foreword by the Chief Executive of Roy Castle Lung Cancer Foundation

Welcome to our Annual Trustees' Report on our activities during 2024.

Ours is the only UK charity entirely dedicated to helping anyone and everyone affected by all forms of lung cancer. It has two core functions: to save lives and support those living with the disease. Each year lung cancer kills almost 35,000 people in the UK, which is more than the number of lives claimed by breast, pancreatic and prostate cancers combined. This is why our work is so vital.

We seek to save lives by funding research, promoting ways to prevent people from developing lung cancer (primarily by offering support for people seeking to stop using tobacco products), and by developing high-quality information resources.

Our research projects add to the store of knowledge on the development of lung cancer and help patients and their families better understand the disease and its implications for their lives.

Our Information Centre creates and updates high-quality collateral such as leaflets and online content, reviewed by patients and supported by input from our research and prevention projects.

We offer emotional and practical support through our nurse-led helpline and online forum.

We represent lung cancer patients in the decision-making processes of both the National Institute for Health and Care Excellence (NICE) and the Scottish Medicines Consortium (SMC), the bodies responsible for recommending the use of new medicines and treatments within the NHS.

As evidence from major clinical trials proves that screening with low-dose CT scans saves lives and improves outcomes, we support NHS England's targeted lung health check programme. During 2024 we increased our activities to promote and support this initiative, with encouraging results.

However, screening has its limitations. It cannot diagnose all cases of lung cancer early nor is it applicable to everyone. So now our objective is to find better ways to identify lung cancer at its earliest stages in people for whom CT screening is not appropriate.

None of this would be possible without the tireless and selfless efforts of our supporters and we thank them for all they do to enable us to continue with our work.

In recent years we have faced unprecedented challenges, both in day-to-day operations and in raising funds to support our work. Yet we remain optimistic, having witnessed significantly more advances in lung cancer care coming onstream. We earnestly hope this trend continues and pledge our efforts to help make it so, as everyone affected by lung cancer should be able to EXPECT BETTER.

Paula Chadwick

Chief Executive

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Report of the Trustees For the Year Ended 31 December 2024

Objectives and activities

Who We Are

The Roy Castle Lung Cancer Foundation Company Number 03059425 (the Foundation) is a company limited by guarantee governed by its Memorandum and Articles of Association last amended 31st January 2011. The company is registered as a charity with the Charity Commission in England and Wales (1046854), the Office of the Scottish Charity Regulator (SC037596) and the Index of Charites on the Isle of Man (1277).

We exist for the benefit of lung cancer patients, and all affected by the disease. By securing donations, legacies and sponsorship, the charity can make material improvements for patients, their families and those who look after them.

We have established the charity as the UK's primary support resource for all diagnosed with lung cancer and also their families and carers. We aim to be the representative 'voice' of lung cancer patients in all areas of health care policy and provision and to offer first-class information and support services.

Our mission

As outlined within the Chief Executive’s foreword the charity has a dual focus: saving lives and supporting people living with lung cancer.

To do this, we promote and fund research into the causes, prevention, and treatment of lung cancer, we develop health promotion programmes aimed at preventing the onset of lung cancer, and we offer practical support to improve the quality of life of patients and their relatives.

During 2024 we placed an emphasis on contributing to the successful implementation and promotion of the NHS England Targeted Lung Health Check (TLHC) programme. This has contributed significantly to the formation of the national lung cancer screening programme and the ambition of the NHS Long Term Plan to improve early diagnosis and survival for people with cancer.

In raising new money and by careful management of our existing funds, the charity provides a public benefit by addressing unmet needs. We do this by making grants to serve lung cancer patients and their families receiving services, by funding research, and by our associated information, support, and prevention services.

The trustees confirm that they have paid due regard to the public benefit guidance published by the Charity Commission and Office of the Scottish Charity Regulator. The Foundation refers to the public benefit guidance when reviewing and setting its aims and objectives and in future planning.

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When considering where to focus our attention, our corporate trustees' board and particularly the members of the charity's research funding committee have regard to the Charity Commission's guidance on public benefit and what this means for our charity.

RCLCF Policy Work in 2024

1. Lung Cancer in 2024 – an overview

Since its formation, the Foundation has had a key focus on ensuring the implementation of a Lung Cancer Screening Program. The National Screening Committee (UK-wide) recommended lung cancer screening in 2022. Data-driven evidence shows that screening high risk individuals for lung cancer with low dose CT chest scans, really works. During 2024, we saw concrete progress towards the implementation of lung cancer screening.

In England , from February 2025, the Targeted Lung Health Check (TLHC) program will be renamed the Lung Cancer Screening Program. Roll out has continued to around a third of the target population (those at defined high risk for lung cancer), with a plan for 100% roll out nationally by 2029. At that time, the Program will be taken over by the Screening Service. To date, over 5000 lung cancers have been diagnosed through TLHC, with 75% being at Stage I or II.

In Scotland, a Lung Cancer Screening Advisory Group is established and a number of workstreams are in development. The Lung Cancer Screening Research project has been extended.

In Wales, a pilot TLHC has been completed. The ‘Lung Health Checks Operational Pilot for Wales’ Evaluation (September 2024) reported that 2128 people were invited for screening, 1241 were triaged, 860 found to be at high risk, with 547 having a baseline CT scan. 12 lung cancers were diagnosed, 66.7% were Stage I and II. The Welsh government have commissioned Public Health Wales to undertake a review of how Targeted Lung Cancer Screening could be delivered in Wales.

In Northern Ireland , in December 2024, the NI Health Minister announced that Lung Cancer Screening would be included in the 3 year Health Plan. Also, in mid-December it was announced that Queens University Belfast had secured a grant of €450k to establish a Lung Cancer Screening Program across the island of Ireland. The LUNG SHOT Project will be funded from the Health Research Board, through its All Ireland Consortium. We await further detail on these developments.

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Report of the Trustees For the Year Ended 31 December 2024

The National Lung Cancer Audit - State of the Nation Report was published in April 2024, with data included for patients in England and Wales who were diagnosed in 2022. Of note in the report findings:

Smoking data. In October 2024, the ONS published a survey report showing that the level of smoking in adults was the lowest recorded, at 11.9% (for 2023). In 2022 it was 12.9% and in 2021, it was 13.3%.

2. Key policy areas for RCLF in 2024:

Working with clinicians, patients, health policy, regulatory and others to ensure:

In so doing, we have:

Continued as secretariat for the Lung Cancer and Mesothelioma Clinical Expert Group (CEG).

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Report of the Trustees

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Continued to work as a consultee to NICE (England) and other bodies to ensure promising new lung cancer therapies are available in the NHS.

Worked towards earlier detection of lung cancer.

• Early Detection in Symptomatic Lung Cancer

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Report of the Trustees For the Year Ended 31 December 2024

Taskforce; Less Survivable Cancers Coalition; ‘One Cancer Voice’ group and the UK Lung Cancer Coalition. Of note is the UKLCC Report ‘Driving Improvements in UK Lung Cancer: Utilising good practice and innovation to deliver optimal care and outcomes’ , published in February 2024.

3. RCLCF funded Research

RCLCF Research Grants Program . One project continued during 2024 (Henshall, Oxford Brookes University). The aim is to look at the barriers to lung cancer patients taking part in clinical trials and the opportunities for encouraging participation. The study will inform the development of a resource, to help cancer nurses make lung cancer patents aware of the clinical trials opportunities available to them.

Clinical Research Fellowship . From 2024, for the next three years, we have changed our Research funding to that of Clinical Research Fellows (CRF) in Lung Cancer. In memory of his campaigning and in recognition of the fundraising and commitment of his family, an RCLCF CRF will be named the James Brokenshire Clinical Research Fellow. We aim to appoint a Fellow in 2025.

Global Lung Cancer Coalition (GLCC)

Background to GLCC

Lung cancer is, by far, the commonest cause of cancer death. Despite recent advances in treatment choices, the outlook for the vast majority of lung cancer patients remains poor. Despite its commonality, there are many negative issues surrounding this disease.

Within this context, in 2001, nine non-governmental organisations came together to discuss mutual areas of interest, and the outcome was the development of the concept of a global coalition for lung cancer advocate organisations. The GLCC exists to promote global understanding of the burden of lung cancer and the right of patients to effective early detection, better treatment and supportive care. The GLCC currently has 43 member NGOs from 31 countries.

During 2024, we undertook a membership review. We were unable to contact 3 previous members in Egypt, Canada and Russia. We have removed these from the GLCC membership list and added

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Report of the Trustees For the Year Ended 31 December 2024

them to a ‘former member’ group. We welcomed three new members in 2024, from Hungary (Lelekzet Egyesulet), Hong Kong (Canerinformation.com.HK) and India (Lung Connect India).

The GLCC is a loose coalition of registered charitable/not for profit organisations. Since 2005 the GLCC has been administered by Roy Castle Lung Cancer Foundation. All corporate governance and financial structures of the GLCC are through RCLCF and carried out under UK Charity law.

Key to GLCC’s success is its ability to network and support members, including new and less well established lung cancer organisations. This is achieved through our Newsletter (also available on our website), through email discussion and during our Annual Meeting. In September 2024, our members met face to face, in San Diego, just prior to the World Lung Cancer Conference and at that time, we also had the opportunity to meet with supporting partner organisations.

The GLCC is committed to improving disease outcomes for all lung cancer patients. The coalition seeks to ensure that policy makers, medical professionals, the media, and the general public recognize the serious nature of lung cancer and the need for immediate action to meet patients’ needs. In practice the GLCC has two core functions – to network its members and to create tools to enable members to better advocate on behalf of lung cancer patients.

GLCC work during 2024

1. The fifth Patient Experience Survey . The aim of these surveys is to create a wealth of intelligence and insights into lung cancer patients’ experience of diagnosis, treatment and care. In 2024, we reconvened our GLCC PE sub-group, to develop survey questions and methodology.

2. Coping with Lung Cancer Project . The focus for this ongoing project is to explore the question of ‘What helped you get through lung cancer?’. The GLCC is dedicated to understanding and helping people with lung cancer cope with the diagnosis, treatments, and survivorship. This ‘Coping project’ began as a discussion at the 2021 GLCC annual meeting. Insights were initially collected from the annual Patient Experience Surveys, and the ‘Coping project’ officially launched in March 2022.

3. Target Driven Lung Cancer, online Resource Centre . Recent years, with the discovery of treatable biological targets, have seen the creation of target specific NGO/charities, dedicated to individual targets, such as EGFR, ALK, ROS-1, K-RAS etc. During 2024, we undertook a mapping exercise to collate information on these groups, bringing together an online resource, available through the GLCC website, to support patient signposting to these national and international groups. The list is available on the GLCC website.

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Report of the Trustees For the Year Ended 31 December 2024

4. Lung Cancer Screening – Information Leaflets. The GLCC has created a screening section, as part of the GLCC website (www.lungcancercoalition.org). This online resource brings together, in one place, key publications, case studies, documentation, protocols, interviews with experts and guidance around lung cancer screening. Gathering information in this way provides a resource to support GLCC members in advocating for screening.

5. Global State of Lung Cancer Research . Since 2013 we have commissioned the Institute of Cancer Policy (ICP) to map published lung cancer research across the world. Our report, ‘Global State of Lung Cancer Research 2014-2021’ (available on the GLCC website) is used to advocate for more research into lung cancer. During 2024, with the support of Lung Cancer Europe (LUCE), we created a bespoke European Union briefing to help promote lung cancer research across the EU. We also used this data to create a GLCC ‘position statement’ on Lung Cancer Research. This has been customised by individual GLCC members for use in their own countries. We created supporting social media posts to encourage more lung-cancer-focused research in our GLCC countries.

6. The GLCC Annual Member Meeting . Key to the GLCC’s continued existence is its annual face to face meeting of members. It fosters relationships and helps members to share ideas, network with external partners and establish the GLCC agenda for the next year. The meeting also provides an opportunity to meet and update our supporting partners. The 2024 meeting was held in San Diego, to coincide with the WCLC meeting.

Lung Cancer Information and Support Services

Our services are designed to promote early detection of lung cancer and provide relevant information and support to those affected by lung cancer.

One-To-One Support

The ‘Ask the Nurse’ service was in consistent demand from September – November. We saw an average of 105 monthly enquiries (year to date average 106). 15% of enquiries concerned symptoms/ screening; 45% from patients, 26% from carers, 4% from Health Care professionals and 10% from other sources. Our main means of contact is phone at 54%, 31%% via online contact (email and website submissions) and 12% via our health unlocked community. 8.5% of our contacts are repeat enquiries. We also opened the service on selected days during the Christmas and New Year holidays in to offer support over the festive period.

The ‘Keep in Touch’ service has ongoing contact with an average of 47 people per month, of which 80% are patients, 17.6% current carers and 2.4% bereaved carers. An average of 59 calls or contacts (some people opt for WhatsApp or email contact) per month.

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Report of the Trustees For the Year Ended 31 December 2024

Information

We have had a busy year to date for information requests with 830 orders to end November. As a result, we have distributed 66,518 packs, booklets and factsheets. Our latest material designed with support from MSD and aimed at carers has had 800 requests in its first three months, with a reprint on its way. Our biomarker testing booklet, supported by Amgen is averaging 240 copies per month, demonstrating ongoing interest in this topic.

Group and Face to Face Support

Our autumn online sessions focused on three topics to match demand. We are running sessions for those living with lung cancer, breathing (a practical session covering lung capacity and relaxation techniques) and a living with lung cancer group. We are running 15 sessions in the last quarter of the year, with an average of 6 participants per group, though higher numbers (8) for breath session and a participation level of 50% for those signed up to attend.

We were pleased that our Glasgow Information Day had record demand with 70 patients and carers booked for the event and over 60 attending.

The Oxford Information Day ran with 36 patients and carers booked, plus 4 local charity and NHS staff. The event had over 30 people participating on the day.

Profile, income and partnership working

In September we met with the Scottish Health Secretary, Neil Gray in the context of the work of the Less Survivable Cancers Taskforce in Scotland. There was opportunity to raise issues regarding progress to lung cancer screening and work on the Scottish Optimal Lung Cancer pathway.

During Lung Cancer Awareness Month (LCAM) we had a number of activities running in collaboration with pharmaceutical partners. A video was recorded for Amgen “Mission week” featuring the work of the charity in awareness raising. Presentations were made for MSD and Roche “town hall” events. This included featuring Karen Michaels, a patient advocate living with stage 4 disease. An event took place in Holyrood (Scottish Parliament) supported by MSD and sponsored by Miles Briggs MSP, this attracted 40 participants including:12 – 15 MSPS, with a speech by Jenny Minto the public health secretary and included 5 patient carer advocates. Mel Erwin, patient advocate also attended the Less Survivable Cancer reception in Westminster. £1,600 has been generated through the pharma meetings.

An opinion piece editorial in collaboration with Neal Navani was commissioned by Astra Zeneca, but publication date is yet to be confirmed. BMS are also working on a report on health inequalities with input from Matt Callister and our Foundation; details are currently in discussion.

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Report of the Trustees For the Year Ended 31 December 2024

Funding has been secured from Amgen for additional work focusing on patients and carers with small cell lung cancer. This will include a survey with LCNUK and building support services targeting this often underrepresented part of the patient community. Funding of £12,000 has been secured.

Our annual funding request from Takeda will complete their grant process in December with £12,500 pledged for core services.

Advisory boards and consultancy work for BMS (genomic testing and targeted treatment, particularly focusing on KRAS and ROS-1 and surgical pathways), Novartis (research on use of radioligand treatment for small cell lung cancer).

The community engagement team included three locations in Scotland as part of LCAM activity. We had good engagement in Glasgow, Alloa and Falkirk. A recent bucket collection in Glasgow Central Station was supported by the LCISS staff and generated £312 in donations. Our Lights of Hope carol service will take place on Saturday 14[th] of December in Glasgow city chambers with 150 participants signed up so far.

Communications and Marketing

Resources were divided between providing support to other departments and delivering the charity's core objectives. Chief among these has been our focus on early detection of lung cancer, specifically, the NHS England Targeted Lung Health Check (TLHC) programme.

Marketing Report

Overview

Throughout 2024 the marketing team provided support for the charity’s main objective projects, and departmental support for the fundraising, information and retail teams, as well as the GLCC.

Charity-objective projects

Targeted Lung Health Checks / Lung Cancer Screening

Activity included:

1. Completed NHS-funded awareness campaign (phase 2) to raise awareness of the programme, improve understanding and increase uptake. The campaign was delivered to the original specification and included the production of a short animated walk-through video, another video with two general practitioners, social media assets and printed collateral designs. Assets are now with the NHS central team for dissemination.

2. Secured £15k funding from Greater Manchester to deliver 18 community engagement events in 2024/25 financial year.

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Roy Castle Lung Cancer Foundation – Company Number 03059425

Report of the Trustees For the Year Ended 31 December 2024

3. Delivered of 21 community engagement events in Basildon (1), Fleetwood (1), Greater Manchester (14), Jarrow (1), Liverpool (1), Milton Keynes (1), Plymouth (1) and Sunderland (1).

4. Recommended community engagement partner of NHS England. The national team provided funding for regional programmes to run community engagement activity and recommended the charity as its trusted partner.

As a result, we will run events for the following cancer alliances: East of England, Kent and Medway, Lancashire and south Cumbria, North Central London, Northern, Peninsula, Somerset Wiltshire Avon and Gloucester, South Yorkshire and Bassetlaw, Surrey and Sussex, Wessex and West Yorkshire. We delivered the Lancashire event in September. Remaining events will take place in Q1 and Q2 2025.

5. Provided expert feedback on the programme name change from Targeted Lung Health Check to Lung Cancer Screening.

6. Quoted in screening-related NHS England press release in November to mark the 5000[th] diagnostic milestone. Coverage included BBC Online (590m reach), Telegraph.co.uk (84m reach) and AOL (7.6m reach).

7. Co-hosted lung cancer screening roundtable at Northern Ireland Assembly to drive the implementation of screening. Post event Queens University Belfast secured a grant to fund a lung cancer screening research project.

Improving early diagnosis of symptomatic lung cancer

As important as screening is in improving early diagnosis, its criteria mean only around 25% of those with lung cancer will be diagnosed via such an initiative. Therefore, improving early detection among those with symptoms is key to transforming long-term survival of this disease. This remains a key priority for the charity.

Activity included

1. Devised and implemented the Let Go of the Labels campaign for lung cancer awareness month. After securing £36k, the campaign delivered the following activity:

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Report of the Trustees For the Year Ended 31 December 2024

2. Publication and media coverage of the paper: A framework for improving early diagnosis in symptomatic lung cancer.

This paper was produced by healthcare professionals from across the lung cancer pathway at a working group coordinated by the charity. It contains a series of recommendations to improve the earlier diagnosis of symptomatic patients and was published in the British Journal of General Practice in December 2024: https://bjgp.org/content/75/750/40

The team secured over 190 pieces of media coverage, including The Times, The Independent and The Sun Online.

3. Ongoing maintenance and development of symptom-based web content. Six of the top 10 visited web pages in 2024 were symptom related, equating to 184,416 page visits and accounting for 23.6% of all web traffic.

Patient support

Roy Castle Lung Cancer Foundation supports everyone affected by lung cancer through its dedicated patient information and support team. The marketing team provides departmental support to this team.

Activity included:

1. Produced and editing of lung cancer information and literature

2. Promoted key services including Ask the Nurse, online support sessions and information days.

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Report of the Trustees For the Year Ended 31 December 2024

3. Created and distributed regular eShot communications. 42.9% average open rate. 16.5% average click through rate.

4. Ongoing maintenance and development of patient-focused web content. In 2024, there were 166,032 visits to the About lung cancer and Help and support sections on the website, accounting for 21.3% of all web traffic.

Brand awareness

In order to achieve our charitable support-based objective, it is vital that the general public remains aware of the charity and its purpose. In 2024, we achieved multiple pieces of extensive media coverage.

Activity included:

  1. Secured 1105 pieces of media coverage in which the charity was quoted or referenced.

  2. Feature piece on BBC Breakfast on BBC Breakfast to mark the 30th anniversary of Roy Castle’s death. https://youtu.be/S-Z8I-2Slgg. Following this coverage, we saw a 133.7% increase in web users vs the previous

Departmental support

Examples of work undertaken to support other charity departments across 2024:

1. Fundraising

2. Retail

3. Research

4. Global Lung Cancer Coalition

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Report of the Trustees For the Year Ended 31 December 2024

Lung Cancer Awareness Campaign: Let Go of The Labels

Objectives for Lung Cancer Awareness Month 2024

Our goal was to secure widespread Prime Time broadcast coverage across the UK for the Roy Castle Lung Cancer Foundation (RCLCF), focusing on this year’s theme, “Let Go of the Labels”.

Our brief was to connect Rachel Avery, Director of Marketing and Communications at RCLCF, and Chanita Stevenson, with key presenters, to discuss this important healthcare topic. We targeted a broad audience, through a mixture of national and regional media outlets. Each interview was carefully coordinated with a Cue Sheet, to guarantee all RCLCF’s key messages were effectively communicated.

Achievements in Raising Awareness

Our campaign resulted in significant exposure and engagement:

• We secured over 20+ hours of airtime, broadcast across an extensive network of stations, reaching an audience of 77 million Prime Time listeners.

• Major contributions came from SKY News Radio (34 million listeners), and On Air News Network, which includes 173 dedicated subscriber stations, collectively reaching 17 million listeners. Bauer Media also broadcast the campaign, contributing another 25 million listeners to our reach.

• Presenters unanimously agreed that Rachel and Chanita did a great job in explaining why raising awareness of lung cancer is so vital.

— Income generation Government, Pharmaceutical Sponsorship, Retail and Fundraising

All the money raised by the Roy Castle Lung Cancer Foundation is vital to the charity's pursuit of its goals. We utilised a wide variety of means to raise these funds to minimise the risk vulnerability of any one income stream. Every penny raised is used in the best possible way. Every penny matters to the charity, and we value every donation no matter how it is given to us. Great care is taken of our donors and supporters to build relationships which, in turn, help maintain income for future years.

Retail

Roy Castle Retail had a very challenging and ultimately a very disappointing year financially, resulting in an operating loss of £251,567 (2023: £80,538 surplus), however, in terms of impact and achievements it continued to meet many of its non-financial KPI’s.

The continuing uncertain economic situation following the high levels of inflation and the cost-of-living crisis resulting from the start of the war in the Ukraine on top of the lingering economic hangover following Covid-19 appears to have supressed public spending during the core of the year and

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Report of the Trustees

For the Year Ended 31 December 2024

depressed sales. Those very same pressures that the public faced and consequently adversely affected sales also pushed up the cost structure of the overall retail operation, thus further reducing returns.

Total income for the year was £2,052,772 excluding VAT (2023: £2,404,763). Some stores did continue to perform strongly during the year despite the economic pressures, with the larger furniture stores performing best.

Hopefully, 2025 will bring a more settled environment, however, increases in national insurance costs and the Basic Living Wage will continue to make things tough on the high street! And therefore, in an attempt improve retail performance the charity has engaged a firm of retail consultants to help revitalise the shops and review other elements of the retail operation.

Our thanks not only to our dedicated managers and staff, but to the army of volunteers that help make our shops such a success.

Fundraising

Legacies

Since the advent of the Covid pandemic, and in common with other charities, we have faced difficulties in receiving monies from legacies within a useful working time scale. This has created some challenges for end of year accounting. However, this is gradually changing and during 2024 we started to see more normal timeframes for notifications and probate processing.

Virtual Fundraising

Virtual fundraising has been really successful in 2024 and a perfect way for us as a national charity with a localised fundraising team to reach a national audience. Our campaigns consisted of:

Walk 31 Miles in March – This is a virtual challenge that encourages supporters to take 1 mile every day in March. This can be done in anyway, outdoors, treadmill all at once or spread across the whole month. We incentivise supporters to fundraise by offering a medal and snood for different giving levels.

Time to Tap - This event takes place virtually via zoom where hundreds of dancers will join force to perform the same routine at the same time. Supporters are encouraged to fundraise to earn a t-shirt and can also purchase this personally should they wish.

Swimming the Distance - is our lung cancer awareness fundraising challenge where supporters will chose their own swimming distance and make a choice to swim in a pool or open waters.

Running & Challenge

2024 was a great year for running. We were successful in recruiting bigger teams in our highlight events including: London Landmarks Half Marathon; Royal Parks Half Marathon; Manchester Half Marathon; London Marathon; Manchester Marathon; Edinburgh Festival; Great North Run.

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Report of the Trustees For the Year Ended 31 December 2024

The key to our success was the decision to choose our top 5-7 events and focus our efforts and marketing around them. Of these, the London Marathon 2024 was the biggest success with more runners completing the run than ever before given it was the final year of Covid roll-overs.

Snowdon at Night

This was our first bespoke challenge. We took a team of 100 people to the top of Snowdon (Yr Wyddfa) at night. We had high hopes for a glimpse of the predicted ‘Strawberry Moon’, along with a beautiful sunrise to reward us for reaching the top – sadly, neither were visible. Instead, we experienced heavy rain, fog and high winds, but the adverse weather did not dampen spirits as all members of the team completed the climb and collectively raised £37,575

Events:

We developed and improved upon 3 of our 4 forest runs with two new courses to attract more runners.

Smash Sherwood - 574 runners

Conquer Cannock – 379 runners

Defeat Delamere – 810 runners

We decided not to run the Defeat Dalby event as it was assessed as being too ‘high risk’.

Spooky Welly Walk Liverpool . This event continues to dominate Halloween and, once again, all tickets sold out. We had a crowd of 9,000 people, with great support from QVC who provided a strong volunteer team to complement our own. A record £ 69,860 was raised.

Spooky Welly Walk Birmingham . Although we pulled off a great event with great feedback our numbers are not growing as quickly as we had hoped. This, coupled with the price increase for running and marketing the event, has sadly led us to the decision to remove it from our 2025 calendar.

Lights of Hope (formerly known as Celebrate a Life)

Historically, our Celebrate a Life event was mainly aimed at providing a memorial occasion for families and friends to recall loved ones lost to lung cancer. Recently, however, we have seen more people who are living with lung cancer supporting us and the event, and so now we feel our Christmas appeal should reflect that fact. Therefore, we have renamed it and slightly changed its format to shift the focus more towards celebrating not only Christmas traditions but also the advances in the treatment and earlier detection of lung cancer.

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Report of the Trustees For the Year Ended 31 December 2024

- Joint working Areas of collaboration, shared interest and funding

We work as part of several umbrella groups to campaign for improvements in lung cancer diagnosis and treatment. These include: the United Kingdom Lung Cancer Coalition, the Less Survivable Cancers Taskforce, and the Lung Ambition Alliance.

Some of these groups include industry (pharmaceutical) partners. We will work on specific projects, including on awareness raising, in collaboration with these groups and partners where it is the most effective way of achieving shared goals.

The charity also sits on the All-Party Parliamentary Committee for Cancer, which provides a cross-party forum for MPs to work together with other interested parties in the cancer field.

Drug development and availability

We are a stakeholder consulted by National Institute for Clinical Excellence (NICE) and Scottish Medicines Consortium (SMC) about licensing and use of medicines and other treatments for lung cancer in the UK.

We make submissions on new treatments based on feedback from the patient community, evidence from trials and input from clinical advisors. Information may be gathered from a range of sources and include some evidence from pharmaceutical company trials.

Our input to medicines approval is independent of pharmaceutical influence. We will receive information from the approving body and relevant information from the pharmaceutical company submission. This is not part of any sponsored or funded activity. We may on occasion receive expenses or honorarium from the commissioning body for participating in meetings to cover expenses incurred.

As a charity, we aim to be transparent about our funding sources including income generated from our relationship with the pharmaceutical industry. Significant income is provided through this relationship, and in a year in which our traditional sources of income were reduced, it is appropriate to comment on this specifically.

During 2024, the charity received £502,345 (2023 - £478,132) from pharmaceutical firms. This income was derived from 15 different firms averaging about £31,000 (2023 - £25,000) each, with the highest individual amount of support being £74,057.

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Roy Castle Lung Cancer Foundation – Company Number 03059425

Report of the Trustees For the Year Ended 31 December 2024

Our 2024 funding from the pharmaceutical industry:

£
Amgen 43,811
Astra Zeneca 74,057
Boehringer 34,024
Bristol Myers Squibb 30,893
Elli Lilly 30,000
Gilead 30,000
JC General 20,000
Merck 31,710
Novartis 34,252
Novocure 29,993
Pfizer 30,000
Regeneron 28,267
Roche 42,118
Takeda 30,000
Other 13,220

The above represents 9.6% of our total income for 2024 (2023- 9.6%) with the largest single pharmaceutical contribution being just 1.5% of our total income. Given the spread and average size of the contributions there is no impact on our independence or integrity.

The pharmaceutical industry is an important partner with the NHS, the academic research community, and organisations such as our charity which are sometimes described as 'patient organisations'. The pharmaceutical industry is governed by legal and compliance codes. In the UK the Association of British Pharmaceutical Industry (ABPI) is a body which oversees companies operating in the UK and ensures they follow the code of conduct in their relationship with medics, charities, and patient advocates.

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Report of the Trustees For the Year Ended 31 December 2024

We believe our integrity comes from having the voices of people affected by lung cancer at the heart of what we do, driving our strategic priorities. While we recognise the benefit of our relationship with pharmaceutical companies, we maintain our independence. Our strategic priorities and our view on lung cancer treatments are shaped by clinical research, consulting with patients and carers,

and understanding the best option with input from our medical advisors. This is overseen by our Board of Trustees.

Advisory Boards

Pharmaceutical companies frequently run Advisory Boards as a way of gathering knowledge about a health condition, how it impacts on those affected and how the diagnosis and treatment services operate. As a charity we are asked to attend (virtually or face to face) such events and share our understanding. We are also on occasion asked to identify patients and carers who would be willing to participate in such meetings or respond to questionnaires to inform these meetings.

Companies will generally offer an "honorarium" or payment for time spent for attendance and participation in Advisory Boards. They will also reimburse the cost of any travel and overnight accommodation required depending on the location and length of the meeting. We consider this to be good practice acknowledging the time and resources charities and patients need to contribute to such meetings.

Sponsorship and Grant funding

Pharmaceutical companies offer charities and health agencies funding for specific purposes. This will depend on the company's strategy and its approach to Corporate Social Responsibility. This term is used to describe any organisation's policies on giving back to the community and society through funding, voluntary activities, and awareness campaigns.

As a charity we are dependent on public donations, our retail stores, events income, and trust funding to support our activities. We also seek funding from corporate partners, including pharmaceutical companies active in the UK who have an interest in lung cancer, as a way of covering the costs of our services, research, and administration costs. We accept and request sponsorship for specific purposes to maintain our services and research.

Volunteers

Sadly, during 2024, the effects of Covid19 still adversely affected the opportunities available for volunteers. Following the reopening of the shops and the reintroduction of some of our events we have been able to recruit vital volunteers with 234 active volunteers in 2024 (2023: 155) providing vital support for the charity. Of these, 1 regular volunteer supported our retail operation across the Merseyside and Cheshire area on a regular weekly basis, whilst the remainder provided support for our popular events program.

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Report of the Trustees For the Year Ended 31 December 2024

We have developed and maintained partnerships with several universities and other external organisations, raising the profile of the charity as well as developing new potential volunteers and developing links with several corporate partners.

In total, we estimate that our volunteers contributed about 22,085 hours of their time during 2024 (2023: 24,500 hours), which is worth over £252,652 (2023: £270,000).

Structure, Governance and Management

Governing document

The Financial Statements have been prepared in accordance with the accounting policies set out in note 1 and comply with the Charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice Applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1st January 2019)".

The Accounts have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for Charities applying to FRS 102 rather than the version of Statement of Recommended Practice referred to in the Regulations, but which has since been withdrawn.

Appointment of trustees

Roy Castle Lung Cancer Foundation (RCLCF) recognises that an effective board of trustees is essential if the charity is to succeed in achieving its objectives. The board must seek to be representative of the people with whom the charity works and must have available to it all of the knowledge and skills required to run the charity. Individual trustees must have sufficient knowledge, both of trusteeship in general and of the Foundation's activities, to enable them to carry out their role and to represent the charity at meetings and other events.

Using a balance of skills and geography, trustee vacancies should be advertised; however, existing trustees and employees are encouraged to put forward names for consideration. The potential trustee will complete a skill matrix and have an induction period of three months before formal appointment by members by ordinary resolution.

Trustees will serve for a three-year period before being eligible for re-election. Unless there are specific and special circumstances no trustee shall serve for more than two consecutive periods. The Chair and deputy Chair shall stand for re-election at each annual meeting. A trustee will be appointed to liaise with the Finance Director to discuss financial issues and be responsible for advising the Board of Trustees on financial matters. The charity has an indemnity provision in place for directors.

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Report of the Trustees For the Year Ended 31 December 2024

Key management personnel include the senior management team. Remuneration in relation to key management is benchmarked against comparable roles and organisations and then authorised by the board of trustees.

Trustee induction and training

All potential trustees receive an introductory pack about the Foundation and the duties and responsibilities of a trustee. They will also have an induction program which will include visiting Foundation sites and meeting staff in all the core areas of work and the appointment of an existing trustee as a mentor. Ongoing training has been provided on the roles and responsibilities of Trustees with a charity.

Organisation

The board of trustees administers the Foundation and comprises of twelve members that meets bimonthly. The board has established four formally constituted committees, each with specific terms of reference and functions; Audit, Employment, Grants and Nominations and Roy Castle Retail as a trading retail subsidiary has a separate board of suitably experienced members with a direct link via common membership to the main charity board. The final decision on ail matters remains with the board.

Sub Committees

The Finance and Audit Committee aid the Chief Executive and the Finance Director in the financial management of the charity acting as a support, critical friend and crucial internal check and support preparations for the annual financial statements and audit.

The Retail Board supports the Retail Director and is made up of suitable members with specific retail experience.

The Chief Executive is appointed by the trustees to be responsible for the executive management and its day-to-day direction in line with the strategic plan.

The Employment Committee is responsible for approval of pay and conditions of staff and Chief Executive and resolution on health and safety issues.

The Nominations Committee is responsible for the recruitment and training of new trustees; this is convened ad hoc rather than as a formal committee.

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Report of the Trustees For the Year Ended 31 December 2024

The Grants Committee

The Scientific Grants Committee is responsible for considering all applications for grants and making recommendations to the Board. The committee also monitors the performance of all external research activities and reports to the Board.

The grants application process recommenced during 2023, and the grants committee reviewed and discussed applications utilising virtual meetings before passing applications for external peer review.

Grant making policy

The charity's aim, through research into Early Detection and Patient Experience, is to make a significant impact on lung cancer for the benefit of patients. Scientific excellence and relevance to lung cancer are the key principles which will guide the foundation's research.

The Foundation's key research objectives are:

Awards are provided for pilot grants and project grants in universities, medical schools/teaching hospitals and research institutes within the UK and Ireland. Grants will be made in support of the research project including salaries, minor equipment and consumables costs. The Foundation will not directly employ staff on grants awarded for research projects.

Financial appraisal and review

Related parties

The charity has three wholly owned subsidiaries: Roy Castle Retail Ltd (03604677), Roy Castle Trading Ltd (03909935) and Cut Films Ltd (073131 37).

Roy Castle Retail Ltd was established on 27 July 1998 to operate as a trading retail company to raise funds for charitable purposes. The company result for the year was a loss of £251,567 (2023 £80,538 profit). There were no gift aid payments to the charity relating to 2024 (2023: £nil).

Roy Castle Trading Ltd was established on 19 January 2000 to operate as a trading promotional company to raise funds for charitable purposes. The company result for the year was a profit of

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Roy Castle Lung Cancer Foundation – Company Number 03059425

Report of the Trustees For the Year Ended 31 December 2024

£152,140 (2023: £141,868 profit) before a gift aid payment to the Charity of £152,140 (2023: £141,868).

Cut Films Ltd was established on 13 July 2010, originally as a trading subsidiary of Cut Films Project Ltd. Ownership transferred to the Roy Castle Lung Cancer Foundation in November 2018. The company result for the year was a loss of £1,166 (2023: £ 1,191 loss). There were no gift aid payments to the charity relating to 2024 (2023: £nil).

Financial Review

The charity, as a group, achieved a surplus during 2024 of £220,363 (2023: £644,451 deficit). This was an improvement on last year as the impact of Covid19 receded.

Income and funding

Total income for the charity increased to £5,224,124 for the year (2023: £4,971,709).

Legacy income significantly increased in 2024 at £1,008,476 (2023: £351,369).

Trust income also increased slightly to £131,161 (2023: £113,000).

Other voluntary donations rose to £435,517 in 2024 (2023: £423,394). However, In Memoriam donations fell slightly to £139,599 (2023: £180,770). However, this type of personal, individual support remains a key income stream for the charity and is a testament to the pride it takes in great donor care and a personal touch.

Sponsorship income decreased slightly in 2024 to £492,243 (2023: £503,539).

Trade was tough for Retail during all of 2024 and it was undoubtably affected by the post-Covid 19 environment and the situation was further impacted by the cost-of-living crisis following the start of the war in Ukraine. Retail decreased its sales to £2,052,772 (2023, £2,404,763), and the net result for the year was a loss of £251,567 (2023: £80,538 surplus).

Gift aid on donations for 2024 rose to £255,877 (2023: £247,671).

Expenditure

Overall expenditure for the year was £5,029,142 (2023: £5,636,216), reflecting both decreased activity but also significant staff losses due to uncertainty.

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Roy Castle Lung Cancer Foundation – Company Number 03059425

Report of the Trustees For the Year Ended 31 December 2024

Investments

The Charity holds £252,650 (2023: £669,783) in listed investments. The charity's Investments generated an income of £25,381 in the year (2023: £20,056). The investments generated a small amount of growth during 2024 and ended the year with a £25,381 net gain on investments (2023: £20,056 gain). The main reason for the reduction in the value of the portfolio during 2024 has been the need to supplement working capital whilst cash from protracted legacy settlements were realised, these have since begun to come through in 2025.

Rathbones, an independent stockbroker, manages the investments within defined areas. The stockbrokers have been instructed not to invest in tobacco-related companies and other socially unacceptable companies. The current investment policy of the trustees is to hold a large proportion of surplus assets of the Foundation in cash and near-cash to ensure a stable platform for the organisation's continued activities.

Reserves

The trustees have adopted a reserves policy which they consider appropriate to ensure the continued ability of the Foundation to meet its objectives and the specific nature of its obligations in relation to long-term research in the form of grants.

The charity monitors its reserves policy based on the obligations noted above compared to free reserves and overall liquid assets.

a) Free reserves

The level of Free Reserves, as defined by the Charity Commission, are the unrestricted funds available for spending and are therefore traditionally calculated by taking the total unrestricted funds of the charity and deducting any balances not available for spending. As all investments held by the charity are liquid and readily converted immediately into cash to spend, these have been included in the calculation for the Charities Reserves' policy. The charity's free reserves are therefore unrestricted reserves less tangible fixed assets.

To hold sufficient funds to cover

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Roy Castle Lung Cancer Foundation – Company Number 03059425

Report of the Trustees For the Year Ended 31 December 2024

The charity's required reserves are £402,632 (2023: £457,080), meaning that at the year end the charity did not hold sufficient free reserves to meet the required level calculated. This was in due to several, large, long standing outstanding legacy payments depressing the cash position. However, the charity's structure and stated purpose does mean that the charity's restricted funds effectively meet many of the obligations and costs of the charity noted above.

The Charity's position since the year end has improved both in terms of the cash position with receipt of a large grant and its overall financial performance which to April 2025 created a surplus of £447k.

To reflect the true purpose of the Charity's restricted reserves and as a second control the trustees also monitor the level of cash and investments held against a longer-term view of the charity's potential commitments, and the value of the company (This is purely an internal measure).

To hold sufficient funds to cover

On the above basis, the resources required are calculated as £970,553 (2023: £1,025,058) and the charity currently held £267,099 in cash and investments at the end of 2024 (2023: £709,640), the overall balance sheet value less the value of fixed assets was £740,420 (2023: £507,652).

A key priority for the charity is to rebuild the level of reserves to meet its potential obligations and the Trustees are convinced, especially following the start to 2025 that this is achievable.

Going Concern Position

Like all the Charity sector, and indeed the broader overall economy, Roy Castle Lung Cancer Foundation was adversely affected by the effects of the Covid19 pandemic, and the necessary actions taken by HM government from March 2020 and through 2024 to tackle the issue.

The impact of this was worsened following the cost-of-living crisis, the economic pressures that have arisen since the start of the war in the Ukraine, and the resultant rapid rise in inflation largely fuelled by rises in utility, power and food prices, and raises in the basic living wage. All of these factors have affected our charity, our staff and our supporters, and have combined to create a difficult trading background which has further deteriorated following the unease in the Middle East.

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Report of the Trustees For the Year Ended 31 December 2024

Over this period the charity has taken prudent actions to protect itself and minimise these negative impacts by reducing costs where possible, with the planned closure of some central infrastructures and the reduction of other central activities together with a significant reduction in staffing number.

As well as the above adjustments to the charity's cost structure, the charity has created both innovative social media events and virtual fundraising activities to support our traditional income sources and events, and, during 2024, reintroduced some of our headline physical fundraising events. During 2025 work will continue to expand these events and rebuild our physical events both as income generators and as profile builders for the charity.

As well as the above adjustments to the charity's cost structure, the charity has made a conscious decision in 2024 to maintain its level of charitable activity. As a result, after reducing unnecessary costs and the successful implementation of new fundraising streams during 2023 and flowing these through to 2024, we are now building new income around our community engagement activities.

We are going to work with programmes and the national team to strengthen those relationships, especially considering the upcoming spending review in the NHS. We are seeking to expand relationships beyond the programmes directly to other involved parties such as providers like InHealth, and pharmaceutical companies focused on early detection. We also received a grant of £481k from the NHS. The charity is now budgeted to generate an estimated surplus of circa £167k in 2025 because of these new activities.

We acknowledged a decline in income from our Retail sector, with increased running costs resulting in a £251k deficit. Consequently, we are using a consultancy firm who specialise in the Charity Retail sector. We are hoping to improve this income stream in 2025.

The Trustees have reviewed this position and have decided that this is sustainable in the circumstances given that the charity has a strong long term investment policy. It holds £267K in cash and investments and sufficient liquid assets to ensure that any cashflow pressures can be managed within the charity’s current total funds of £829,085 (2023 £608,722).

Regarding reserves, the level of unrestricted reserves stands at £432k (2023: £85k) while restricted reserves are £397k (2023: £523k); the balance is weighted slightly towards the unrestricted reserves. Our balance has improved significantly since 2023.

The Trustees have therefore concluded that the charity and group have sufficient funds to be able to continue in existence for the foreseeable future and thus continue to adopt the going concern basis of accounting in preparing the financial statements.

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Report of the Trustees For the Year Ended 31 December 2024

Risk management

The trustees have a risk management strategy to assess business risks and to mitigate those risks:

The trustees have identified the four principal risks to the charity as

The Charity believes that these business risks could be effectively managed by restructuring existing resources and maintaining appropriate accessible cash reserves. A tiered management structure is being developed to allow internal staff progression and a clear pathway to promotion which together with investment in training and appropriate remuneration is designed to improve staff retention and recruitment.

Events on the scale of the Covid19 pandemic or the Russian-Ukraine war had not been envisaged prior to 2020 but the above actions have proved adequate to date at the time of the trustees' report in successfully managing the situation and ensuring the future of the charity and are reflected in subsequent risk registers.

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Report of the Trustees For the Year Ended 31 December 2024

Plans for the Future

Screening

The Targeted Lung Health Check programme in England post pandemic is making a significant impact on lung cancer with 5976 diagnoses since its introduction (2019) to December 2024 and a significant switch to earlier stage diagnose with the obvious benefits in prognosis.

National Programme Metrics National Programme Metrics National Programme Metrics National Programme Metrics
For activityfromprogramme start upuntil end of March 2024
Invites sent 1,591,798
Lung Health Checks attended 713,931
Scans Baseline 313,672
Follow up 110,723
Total 424,395
Lung cancers diagnosed 3,965
Stage 1 62%
Stage 2 13%
Stage 3 13%
Stage 4 9%
Incidental findings Total incidental finding 185,081
Coronarycalcification 140,801
Emphysema 57,078
Sum of all other incidental
finding (not including
CAC/emphysema)		 72,774

We continue to investigate how we can also support Lung Health pilots in Scotland, Wales and Northern Ireland, the potential impact of the TLHC programme is perhaps the single most important step forward for the lung cancer community at the present time and the charity is determined to make it a success.

We will put whatever resources we can behind it and achieving the successful implementation of the national screening programme as announced during 2023 and expected to be in place by 2029.

Research

During 2022, we re-established our lung cancer research programme. However, the response to the can for applications was low and we received a similar response in 2023. Clearly, post-covid, the research community is still being adversely affected. As a result, the charity is targeting increased

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Report of the Trustees For the Year Ended 31 December 2024

funding for further Doctorial Research Fellows in addition to our post in Nottingham and the Post Doctorial post we support at the University of Liverpool.

Patient support

Further development of our various distance support operations, help lines and information and support services. It is hoped that where appropriate and safe to do so the charity can continue the reintroduction of face-to-face support meetings and the reintroduction of physical support groups. Sadly, due to budgetary constraints we have suspended our patient grant scheme for the time being.

Funding the above

In 2024 we concentrated on replenish some of the reserves used for work undertaken in 2023 at the same time we must continue to provide a valuable charitable service.

The charity will also need to both increase its level of funding and therefore increase its income over both the short term (12-18 months) and in the longer term whilst at the same time managing its costs to levels within it means.

In 2025 we are planning to work with lower staff numbers to keep costs low.

As such, the fundraising, and support functions will remain similar (albeit with smaller teams) with similar targets and look for organic growth and where possible cost savings and efficiencies rather than dramatic changes.

We are planning to restructure our retail department to improve their sales and keeping costs low.

The charity believes that supporting the roll out of the TLHC programme may open additional routes to income. The forthcoming changes in the structure of NHS England may open fresh opportunities to create a new income stream. However, the prime purpose of any such activity has to be improved uptake and the success of the programme leading to a national screening programme, rather than income generation.

Further development of online income streams, combining these with re-emerging physical events, will be brought forward although tougher criteria on return and payback period will have to be implemented as currently the charity cannot afford to support new events through several years of development until they become profit-making.

Our online retail offer will be redeveloped, and our logistics operation will be streamlined.

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Report of the Trustees For the Year Ended 31 December 2024

Statement of trustees' responsibilities

The Trustees (who are also directors of The Roy Castle Lung Cancer Foundation for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements 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 which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and group and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the website (http://www.roycastle.org). Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement as to disclosure of information to auditors

The trustees who were in office on date of approval of these financial statements have confirmed, as far as they are aware, that there is no relevant audit information of which the auditors unaware. Each of the trustees have confirmed that they have taken all the steps that they ought to have taken as trustees in order to male themselves aware of any relevant audit information and to establish that it has been communicated to the auditors.

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Report of the Trustees For the Year Ended 31 December 2024

Auditors

During the year, the trustees accepted the resignation of RSM UK Audit LLP, who served as the organisation’s auditors. The trustees have appointed Murray Smith LLP as the new auditors, and they have confirmed their willingness to act in this capacity. The trustees confirm that they have complied with all relevant legal and regulatory requirements in relation to the change of auditors and have provided all necessary information to the new auditors.

The auditors, Murray Smith LLP, have indicated their willingness to continue in office.

Staff

We would like to pay tribute to the staff of the Foundation who continue to show considerable enthusiasm and commitment.

Partners and supporters

We would like to record a sincere thanks to all our partners and supporters who have helped the Charity in any way this year.

Exemptions from disclosure

Small Company Provisions

This report has been prepared in accordance with the provisions applicable for companies entitled to the small companies’ exemption.

By order of the trustees

Euan Imrie

Treasurer and Vice Chair

Date: 31[st] July 2025

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Report of the independent auditors to the Members of Roy Castle Lung Cancer Foundation

Opinion

We have audited the financial statements of Roy Castle Lung Cancer Foundation the ‘parent charitable company’ and its subsidiaries (the ‘group’) for the year ended 31 December 2024 which comprise the Consolidated and Parent Charitable Company Statement of Financial Activities, the Consolidated and Parent Charitable Company Balance Sheets, the Consolidated and Parent Charitable Company Statement of Cash Flows and notes to the financial statements, including a summary of the significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

34

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Report of the independent auditors to the Members of Roy Castle Lung Cancer Foundation

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 group’s or parent 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 responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Report, but does not include the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. 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.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report.

35

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Report of the independent auditors to the Members of Roy Castle Lung Cancer Foundation

We have nothing to report in respect of the following matters prescribed by the Companies Act 2006 which requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ Responsibilities set out in the trustees’ annual report, 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 financial statements, the trustees are responsible for assessing the group’s and the charitable company’s 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 group or parent charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic 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 procedures 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 below:

36

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Report of the independent auditors to the Members of Roy Castle Lung Cancer Foundation

The audit procedures designed to identify irregularities included:

There are inherent limitations in the audit procedures described above and, the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, intentional misrepresentations or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the Members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company’s trustees, as a body, in accordance with section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Charities Act 2011. Our audit work has been undertaken so that we might state to the members and the charitable company’s trustees, those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members, as a body, for our audit work, for this report, or for the opinions we have formed.

37

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Report of the independent auditors to the Members of Roy Castle Lung Cancer Foundation

12-08-2025

Nicola Tucker FCA (Senior Statutory Auditor) Date For and on behalf of Murray Smith LLP Chartered Accountants Statutory Auditors Darland House 44 Winnington Hill Northwich Cheshire CW8 1AU

38

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Consolidated Statement of Financial Activities for the year ended 31 December 2024

Note
Income from:
Donations and legacies
10
Charitable activities
11
Other trading activities
12
Investments
13
Other
14
Total income
Expenditure on:
Raising funds
15
Charitable activities
16
Total expenditure
Net gain/(loss) on investments
27
Net income / (expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
£
Restricted
General
Funds
£
Total
2024
£
Total
2023
£
1,966,320
560,085
2,526,405
1,895,108
30,334
42,725
73,059
14,900
2,588,070
25,437
2,613,507
3,038,280
11,303
-
11,303
23,271
(150)
-
(150)
150
4,595,877
628,247
5,224,124
4,971,709
3,189,889
361
3,190,250
3,533,192
1,084,782
754,110
1,838,892
2,103,024
4,274,671
754,471
5,029,142
5,636,216
25,381
-
25,381
20,056
346,587
(126,224)
220,363
(644,451)
-
-
-
-
346,587
(126,224)
220,363
(644,451)
85,494
523,228
608,722
1,253,173
432,081
397,004
829,085
608,722

All activities derive from continuing operations.

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Charity Only Statement of Financial Activities for the year ended 31 December 2024

Note
Income from:
Donations and legacies
18
Charitable activities
19
Other trading activities
20
Investments
21
Other
22
Total income
Expenditure on:
Raising funds
23
Charitable activities
24
Total expenditure
Net gain/(loss) on investments
27
Net income / (expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
£
Restricted
General
Funds
£
Total
2024
£
Total
2023
£
2,000,403
560,085
2,560,488
1,911,324
-
42,725
42,725
14,900
311,277
25,437
336,714
344,992
12,210
-
12,210
23,866
-
-
-
-
2,323,890
628,247
2,952,137
2,295,082
1,081,501
361
1,081,862
933,101
1,063,429
754,110
1,817,539
2,087,563
2,144,930
754,471
2,899,401
3,020,664
25,381
-
25,381
20,056
204,341
(126,224)
78,117
(705,526)
-
-
-
-
204,341
(126,224)
78,117
(705,526)
161,969
483,022
644,991
1,350,517
366,310
356,798
723,108
644,991

All activities derive from continuing operations.

40

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Consolidated Balance Sheet as at 31 December 2024

Consolidated Balance Sheet as at 31 December 2024 Consolidated Balance Sheet as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 28 88,665 101,070
Investments 29 252,650 669,783
341,315 770,853
Current assets
Stocks 31 93,367 106,614
Debtors 32 1,164,413 846,329
Cash at bank and in hand 14,449 39,857
1,272,229 992,800
Current Liabilities
Creditors: amounts falling due within one year 33 (642,567) (963,176)
Net current assets 629,662 29,624
Total assets less current liabilities 970,977 800,477
Creditors – amounts falling due after more than one 34 (33,333) (73,333)
year
Provisions for liabilities 36 (108,559) (118,422)
Total net assets of the group 829,085 608,722
The total net assets of the group are funded by the
funds of the charity, as follows:
Restricted funds
Restricted revenue funds 41 397,004 523,228
Unrestricted funds
Unrestricted revenue funds 41 432,081 85,494
Total funds 829,085 608,722

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

Approved and authorised for issue by the board of trustees on 31 July 2025 and signed on their behalf by: Euan Imrie (24B7108393C283442... by: Trustee

The notes on pages 47 to 80 form an integral part of these financial statements.

41

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Charity Only Balance Sheet as at 31 December 2024

Notes 2024 2023
£ £
Fixed assets
Tangible assets 28 17,353 9,345
Investments 29 252,653 799,378
270,006 808,723
Current assets
Stocks 31 27,976 27,852
Debtors 32 1,012,624 643,273
Cash at bank and in hand 33,256 27,053
1,073,856 698,178
Current Liabilities
Creditors: amounts falling due within one year 33 (564,882) (763,784)
Net current assets 508,974 (65,606)
Total assets less current liabilities 778,980 743,117
Creditors – amounts falling due after more than one 34 (33,333) (73,333)
year
Provisions for liabilities 36 (22,539) (24,793)
Total net assets of the charity 723,108 644,991
The total net assets of the charity are funded by the
funds of the charity, as follows:
Restricted funds
Restricted revenue funds 41 356,798 483,022
Unrestricted funds
Unrestricted revenue funds 41 366,310 161,969
Total funds 723,108 644,991

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

Approved and authorised for issue by the board of trustees on 31 July 2025 and signed on their behalf by:

Euan Imrie (24B7108393C283442... by: Trustee

The notes on pages 47 to 80 form an integral part of these financial statements.

42

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Consolidated Statement of Cash Flows for the year ended 31 December 2024

Notes to
cash flow
Cash flow from operating activities
Net cash provided by (used in) operating activities
1
Cash flows from investing activities
2
Cash flows from financing activities
3
Change in cash and cash equivalents in the reporting
period
5
Cash and cash equivalents at 1 January 2024
Cash and cash equivalents at 31 December 2024
5		 Year ended
31 December
2024
£
Year ended
31 December
2023
£
(270,667)
(303,657)
285,259
172,167
(40,000)
(40,000)
(25,408)
(171,490)
39,857
211,347
14,449
39,857

43

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Charity Only Statement of Cash Flows for the year ended 31 December 2024

Notes to
cash flow
Cash flow from operating activities
Net cash provided by (used in) operating activities
1
Cash flows from investing activities
2
Cash flows from financing activities
3
Change in cash and cash equivalents in the reporting
period
5
Cash and cash equivalents at 1 January 2024
Cash and cash equivalents at 31 December 2024
5		 Year ended
31 December
2024
£
Year ended
31 December
2023
£
(248,147)
(251,042)
294,350
196,416
(40,000)
(40,000)
6,203
(94,626)
27,053
121,679
33,256
27,053

44

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Cash Flow Statement For the Year Ended 31 December 2024

1. Reconciliation of net income/ (expenditure) to net cash flow from operating activities

Net income / (expenditure) for the period
Adjusted for:
Depreciation charges
Impairment of investment assets
Net (gain)/loss on investment assets
Dividends, interest and rents from investment
Realised gain on investments
(Increase)/Decrease in stocks
(Increase)/Decrease in debtors
Increase/(Decrease) in creditors
Increase/(Decrease) in provisions
Net cash provided by/(used in) operating
activities		 Group
2024
£
Group
2023
£
Charity
2024
£
Charity
2023
£
220,363 (644,451)
78,117
(705,526)
32,740
39,935
4,143
6,707
-
-
129,592
-
(25,381)
(20,056)
(25,381)
(20,056)
(11,303)
(23,271)
(12,210)
(23,866)
148,223
47,145
148,223
47,145
13,247
(19,616)
(124)
(11,277)
(318,084)
305,628 (369,351)
417,505
(320,609)
67,594 (198,902)
30,467
(9,863)
(56,565)
(2,254)
7,859
(270,667) (303,657) (248,147)
(251,042)

2. Cash flows from investing activities

Interest received
Dividends received
Purchase of property, plant and equipment
Proceeds from sales of investments
Purchase of investments
Increase in cash held for investment
Net cash provided by investing activities		 Group
2024
£
Group
2023
£
Charity
2024
£
Charity
2023
£
633
826
1,540
1,421
10,670
22,445
10,670
22,445
(20,335) (27,596)
(12,151)
(3,942)
318,643 202,772
318,643
202,772
(36,602) (33,504)
(36,602)
(33,504)
12,250
7,224
12,250
7,224
285,259 172,167
294,350
196,416

3. Cash flows from financing activities

Repayments of borrowing
Cash inflows from new borrowing
Interest paid
Net cash provided by / (used in) financing
activities		 Group
2024
£
Group
2023
£
Charity
2024
£
Charity
2023
£
(40,000)
(40,000)
(40,000)
(40,000)
-
-
-
-
-
-
-
-
(40,000)
(40,000)
(40,000)
(40,000)

45

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Cash Flow Statement

For the Year Ended 31 December 2024

4. Analysis of cash and cash equivalents

Cash in hand and at bank
Notice deposits (less than 3 months)
Total cash and cash equivalents		 Group
2024
£
Group
2023
£
Charity
2024
£
Charity
2023
£
14,449
39,857
33,256
27,053
-
-
-
-
14,449
39,857
33,256
27,053

5. Analysis of changes in net debt

Group
Net Cash
Cash at bank and in hand
Debt
Debts falling due within one year
Debts falling due after one year
Net funds/(debt)
Charity
Net Cash
Cash at bank and in hand
Debt
Debts falling due within one year
Debts falling due after one year
Net funds/(debt)		 At 1 January
2024
£
Cash flows
£
Non-cash
flows
£
At 31 December
2024
£
39,857
(25,408)
-
14,449
39,857
(25,408)
-
14,449
(40,000)
40,000
(40,000)
(40,000)
(73,333)
-
40,000
(33,333)
(113,333)
40,000
-
(73,333)
(73,476)
14,592
-
(58,884)
At 1 January
2024
£
Cash flows
£
Non-cash
flows
£
At 31 December
2024
£
27,053
6,203
-
33,256
27,053
6,203
-
33,256
(40,000)
40,000
(40,000)
(40,000)
(73,333)
-
40,000
(33,333)
(113,333)
40,000
-
(73,333)
(86,280)
46,203
-
(40,077)

46

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

1. Accounting policies

Basis of preparation and accounting convention

These consolidated accounts have been prepared on the accruals basis, under the historical cost convention except for listed investments which are stated at market value, and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Companies Act 2006 and Charities Act 2011.

Roy Castle Lung Cancer Foundation meets the definition of a public benefit entity under FRS 102.

The registered office and principal place of business is Cotton Exchange, Old Hall Street, Liverpool, England, L3 9LQ.

The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

Control of members of the group

The parent charity has concluded that control exists over its subsidiaries for the following reasons: -

They are either a wholly owned subsidiary with directors appointed by the Roy Castle Lung Cancer Foundation or a charity and company limited by guarantee and controlled by trustees appointed by the Roy Castle Lung Cancer Foundation.

Legal Status

Roy Castle Lung Cancer Foundation ('the charity') is a company limited by guarantee (Companies House No. 03059425) and a registered charity (Registered Charity No. 1046854 (England and Wales), SC037596 (Scotland) and 006171F (Isle of Man)). It is governed by Memorandum and Articles of Association dated 31 January 2011 . The liability of each member in the event of winding up is £10. The company is registered as a charity with both the Charity Commission and the Office of the Scottish Charity Regulator.

Going Concern

Like all the Charity sector, and indeed the broader overall economy, Roy Castle Lung Cancer Foundation was adversely affected by the effects of the Covid19 pandemic, and the necessary actions taken by HM government from March 2020 and through 2024 to tackle the issue.

The impact of this was worsened following the cost-of-living crisis, the economic pressures that have arisen since the start of the war in the Ukraine, and the resultant rapid rise in inflation largely fuelled by rises in utility, power and food prices, and raises in the basic living wage. All of these factors have affected our charity, our staff and our supporters, and have combined to create a difficult trading background which has further deteriorated following the unease in the Middle East.

47

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

1. Accounting policies (continued)

Over this period the charity has taken prudent actions to protect itself and minimise these negative impacts by reducing costs where possible, with the planned closure of some central infrastructures and the reduction of other central activities together with a significant reduction in staffing number.

As well as the above adjustments to the charity's cost structure, the charity has created both innovative social media events and virtual fundraising activities to support our traditional income sources and events, and, during 2024, reintroduced some of our headline physical fundraising events. During 2025 work will continue to expand these events and rebuild our physical events both as income generators and as profile builders for the charity.

As well as the above adjustments to the charity's cost structure, the charity has made a conscious decision in 2024 to maintain its level of charitable activity. As a result, after reducing unnecessary costs and the successful implementation of new fundraising streams during 2023 and flowing these through to 2024, we are now building new income around our community engagement activities.

We are going to work with programmes and the national team to strengthen those relationships, especially considering the upcoming spending review in the NHS. We are seeking to expand relationships beyond the programmes directly to other involved parties such as providers like InHealth, and pharmaceutical companies focused on early detection. We also received a grant of £481k from the NHS. The charity is now budgeted to generate an estimated surplus of circa £167k in 2025 because of these new activities.

We acknowledged a decline in income from our Retail sector, with increased running costs resulting in a £251k deficit. Consequently, we are using a consultancy firm who specialise in the Charity Retail sector. We are hoping to improve this income stream in 2025.

The Trustees have reviewed this position and have decided that this is sustainable in the circumstances given that the charity has a strong long term investment policy. It holds £267K in cash and investments and sufficient liquid assets to ensure that any cashflow pressures can be managed within the charity’s current total funds of £829,085 (2023 £608,722).

Regarding reserves, the level of unrestricted reserves stands at £432k (2023: £85k) while restricted reserves are £397k (2023: £523k); the balance is weighted slightly towards the unrestricted reserves. Our balance has improved significantly since 2023.

The Trustees have therefore concluded that the charity and group have sufficient funds to be able to continue in existence for the foreseeable future and thus continue to adopt the going concern basis of accounting in preparing the financial statements.

Basis of consolidation

The Statement of Financial Activities (SOFA) and balance sheet consolidate the financial statements of the Charity and its subsidiary undertakings. The results, assets and liabilities of the subsidiaries are consolidated on a line by line basis.

48

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

1. Accounting policies (continued)

Policies relating to Categories of Income and Income Recognition

a) Accounting for deferred income and income received in advance

Where terms and conditions relating to income have not been met or uncertainty exists as to whether the charity can meet any terms or conditions otherwise within its control, income is not recognised but is deferred as a liability until it is probable that the terms or conditions imposed can be met.

Any grant that is subject to performance-related conditions received in advance of delivering the goods and services required by that condition or is subject to unmet conditions wholly outside the control of the recipient charity, is accounted for as a liability and shown on the balance sheet as deferred income.

Deferred income is released to income in the reporting period in which the performance-related or other conditions that limit recognition are met.

When income from a grant or donation has not been recognised due to the conditions applying to the gift not being wholly within the control of the recipient charity, it is disclosed as a contingent asset if receipt of the grant or donation is probable once those conditions are met.

Where time related conditions are imposed or implied by a funder then the income is apportioned to the time periods concerned and, where applicable, is accounted for as a liability and shown on the balance sheet as deferred income. When grants are received in advance of the expenditure on the activity funded by them, but there are no specific time related conditions, then the income is not deferred.

Any condition that allows for the recovery by the donor of any unexpended part of a grant does not prevent recognition of the income concerned, but a liability to any repayment is recognised when repayment becomes probable.

b) Income from legacies

Income from legacies is recognised when the charity has sufficient evidence that a gift has been left to them, that where required, probate has been granted, the executor is satisfied that the property in question will not be required to satisfy claims in the estate, that it is probable that the amount will be received by the charity, and the amount to be received can be estimated with sufficient accuracy, and that any conditions attached to the legacy are either within the control of the charity or have been met.

Where a payment is received from an estate or is notified as receivable by the executors after the reporting date and before the accounts are authorised for issue but it is clear that the payment had been agreed by the executors prior to the end of the reporting period, then the amount concerned is treated as an adjusting event and accrued as income in the accounting period if receipt is probable.

49

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

1. Accounting policies (continued)

Where the charity has established entitlement to a legacy but there is uncertainty as to the amount of the payment, details of the legacy are disclosed as a contingent asset until the criteria for income recognition are met. Where a legacy is subject to the interest of a life tenant, the legacy is not recognised as income until the death of the life tenant.

Where there is any doubt that full settlement of a legacy debtor will be received, then an adjustment is made to reduce the amount of the legacy debtor and legacy income rather than charging the adjustment as expenditure in the Statement of Financial Activities.

c) Donated goods, facilities and services

Donated fixed assets are recognised at the current fair value. All such donations are recognised as donation income and debited to fixed assets.

Donated goods that are not fixed assets are accounted for at a fair value unless it is impractical to reliably measure the value of the donated items.

If it is deemed impracticable to measure the fair value of goods donated for resale and that costs of valuation outweigh the benefits, then the value of donated goods is recognised as income when sold.

Donated services and facilities (including seconded staff and use of property) are included in the accounts on the basis of the value of the gift to the charity.

All donated services and facilities are recognised as donation income when received (provided the value of the gift can be measured reliably) and recognised as an expense with an equivalent value.

Policies relating to expenditure on goods and services provided to the charity

a) Recognition of liabilities and expenditure

A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated.

Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities and is decreased by the utilisation of any provision within the period and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.

50

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

1. Accounting policies (continued)

b) Allocating costs to activities

Direct costs that are specifically related to an activity are allocated to that activity- Shared direct costs and support costs are apportioned between activities.

The basis for apportionment, which is consistently applied, and proportionate to the circumstances, is:-

Direct staff costs - Directly allocated on the basis of time spent in connection with any particular activity

Indirect staffing - on a per capita basis, based on the number of people employed within any particular activity. Indirect staff costs are allocated as follows:

Premises related costs - on a per capita basis, based on the number of people employed within any particular activity.

Non-specific support costs - on a per capita basis, based on the number of people employed within any particular activity.

Estimation techniques used in apportioning costs are based on FTE time spent on activities.

c) Volunteers

In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income or expenditure of the charity.

However the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this is described more fully in Note 7 and the front end of the accounts.

Policies relating to assets, liabilities and provisions and other matters

a) Fixed asset investments

Fixed asset investments in quoted shares, traded bonds, investment properties and similar investments are shown initially at cost upon acquisition and at their fair value through profit and loss.

51

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

1. Accounting policies (continued)

Fixed asset investments in unlisted equities are shown at the balance sheet date at cost and subsequently measured at cost less any accumulated impairment losses, a review is undertaken at each year end as to whether the asset should be written down

All gains on fixed asset investments, whether realised or unrealised, are included in the Statement of Financial Activities.

b) Tangible fixed assets

Fixed assets costing more than £500 are capitalised and valued at historic cost. Items individually below the threshold but included in a project whose overall cost is greater than £500 are also capitalised.

Tangible fixed assets are measured at their original cost value. Cost value includes all costs expended in bringing the asset into its intended working condition.

Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value over their estimated useful lives.

Leasehold premises over the length of the lease Fixtures and fittings over the length of the lease Research, office and computer equipment between 10 and 25%

c) Stocks and work in progress

Stock consists of purchased goods for resale. Stocks are valued at the lower of cost and net realisable value. Donated items sourced from both individuals and organisations are not included in the financial statements until they are sold.

d) Debtors

Debtors are measured at their recoverable amounts at the balance sheet date.

e) Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their transaction amount.

f) Provisions

Provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Provisions are normally recognised at their transaction amount and discounted to their present day value at the time of the accounts.

52

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements For the Year Ended 31 December 2024

1. Accounting policies (continued)

g) Financial instruments including cash and bank balances

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Cash held by the charity is included at the amount actually held and counted at the year end. Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

All financial assets and liabilities are measured at cost with the exception of listed investments which are stated at market value.

h) Leasing

Rentals paid under operating leases are charged to income on a straight-line basis over the lease term.

i) Pensions - defined contribution schemes

The charity operates a defined contribution pension scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme. The assets of the scheme are held separately from those of the charity.

j) Charitable commitments

Commitments that are legally binding on the trustees are accounted for as expenditure in the Statement of Financial Activities. Where the intention of financial support is not binding on the trustees, such intentions are not accrued for but are disclosed separately in a note to the accounts.

k) Branch Offices

The Charity carries out some activities through offices that use the same name as the Charity, raise funds for the Charity and receive support from the Charity through advice and publicity materials. All transactions are accounted for gross in the accounts and all assets and liabilities are included in the Charity's balance sheet.

l) Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

53

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

1. Accounting policies (continued)

m) Consolidation

Roy Castle Retail Limited (Company number 03604677), Roy Castle Trading Limited (Company number 03909935), and Cut Films Limited (Company number 07313137) are controlled by the Roy Castle Lung Cancer Foundation and are consolidated in these accounts on a line-by-line basis.

n) Government Grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met, and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

o) Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Trust's work or for specific artistic projects being undertaken by the Trust.

2. Critical accounting estimates and judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount 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 underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Estimate of Dilapidation provision:

Dilapidations are provided for on the basis of external estimates of the cost of repair for each property held at the end of its lease, discounted to current day values at a rate of 10% to reflect current time value of money. These assumptions are reviewed on an annual basis. £433 of the provision was released in 2024 (2023: £55k) with an additional provision of £nil made as at 31 December 2024 (2023: £nil) due to a review of likely property and lease termination dates. This £109k provision includes £23k in relation to head office and £86k in relation to the shops held by retail.

54

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

2. Critical accounting estimates and judgements (continued)

Recoverability of group debts:

Group debt is reviewed annually, and any amounts deemed irrecoverable are provided for in the Charity only accounts. At 31 December 2024, intercompany debtors due to the charity from Cut Films Limited and Roy Castle Retail Limited have been written down to £nil on the basis that the subsidiaries may not be able to repay these amounts.

Classification of intercompany loan:

Intercompany debtor loans are classified based on the timing of their expected realisation. At 31 December 2024, an intercompany loan of £130k (which had been classified as a fixed asset investment as the intention is that the balance will not be realised through normal trading operations in the near future) due to the charity from Roy Castle Retail Limited has been provided for in full on the basis that the subsidiary may not be able to repay these amounts.

3. Liability to taxation

As a registered charity, the organisation is exempt from Corporation Tax under the Corporation Tax Act 2010 (chapters 2 and 3 of part ii, section 366 onwards) or Section 256 of the Taxation for Chargeable Gains Act 1992, to the extent that surpluses are applied to its charitable purposes. Value Added Tax is not recoverable by the charity and is therefore included in the relevant costs in the Statement of Financial Activities.

Value Added Tax is recoverable by Roy Castle Retail Limited and Cut Films Limited, it is therefore not reported or included in the costs or income figures of these companies or consolidated into the group accounts.

Taxation of subsidiaries

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

55

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

3. Liability to taxation (continued)

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4. Winding up or dissolution of the charity

If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.

56

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

5. Net expenditure in the financial year

Group
The net expenditure in the financial year for the group is stated after
charging:-
Depreciation of fixed assets
Operating leases
Charity
The net expenditure in the financial year for the charity is stated after
charging:-
Depreciation of fixed assets
Operating leases
Fees payable to the group’s auditor:
For audit services
Audit of the financial statements of the group and charity
Taxation compliance services
All other non-audit services
Interest payable
Group and charity
Bank interest payable		 2024
£
2023
£
32,740
39,935
591,429
537,094
2024
£
2023
£
4,143
6,707
109,452
71,544
2024
£
2023
£
18,000
42,125
18,000
42,125
2,400
3,600
7,200
15,630
9,600
19,230
2024
£
2023
£
481
380
481
380

6. Interest payable

57

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

7. The contribution of volunteers

The Charity has significant support from volunteers in all our activities, currently we have 234 registered with us (2023: 155) and they regularly support us in the Foundation’s shops, community engagement work, administration and Fundraising. In total, the hours able to be contributed were 22,085 (2023: 24,546) which is the equivalent of 11.33 people (2023: 12.61).

The charity does not recognise in financial terms in the accounts the valuable contribution of our volunteers.

8. Staff costs and emoluments

. Staff costs and emoluments
Gross salaries
Employer’s National Insurance
Employer’s Pension		 Group
2024
£
Group
2023
£
Charity
2024
£
Charity
2023
£
2,445,317
2,809,786 1,256,840
1,537,196
187,778
221,597
120,321
146,406
59,076
69,033
39,046
46,242
2,692,171
3,100,416 1,416,207
1,729,844

The average number of staff deployed in different activities in the group in the year was:

Engaged on charitable activities
Engaged on fundraising activities
Engaged on management and administration
Engaged on retail activities		 2024
No
2023
No
27
40
17
17
6
14
87
87
137
158

The average number of staff in the charity only in the year was 50 (2023: 64).

The number of employees whose emoluments including taxable benefits but excluding employer’s pension contributions fall into the following bands were:-

Group and charity
£60,001 to £70,000 p.a.
£70,001 to £80,000 p.a.		 2024
No
2023
No
2
1
1
2
3
3

3 (2023: 3) of the above employees are accruing benefits under defined contribution pension schemes.

58

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

8. Staff costs and emoluments (continued)

Chief Executive Officer / Highest paid employee
The remuneration in the year was
Pension contributions paid by employer		 2024
£
2023
£
75,020
79,649
5,072
5,303
80,092
84,952

9. Remuneration and payments to Trustees and persons connected with them

No trustees or persons connected with them received any remuneration from the charity, or any related entity.

1 trustees was reimbursed expenses incurred which amounted to £422 (2023: £1,308 to 11 trustees) in relation to travel and subsistence and postage expenses.

59

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

10. Donations and Legacies – Consolidated

Unrestricted Restricted 2024 2023
Funds Funds Total Total
£ £ £ £
Donations and gifts from individuals
Donations 12,072 - 12,072 12,003
Individual Giving 359,378 275 359,653 341,426
Payroll Giving 63,792 - 63,792 69,965
435,242 275 435,517 423,394
Legacies receivable
Legacies receivable 1,008,476 - 1,008,476 351,369
1,008,476 - 1,008,476 351,369
Revenue grants and donations from non-public bodies
Corporate Grants 62,487 - 62,487 73,650
Trusts 26,750 104,411 131,161 113,000
89,237 104,411 193,648 186,650
Sponsorship
Pause for Hope - 1,045 1,045 1,715
Sponsorship 37,889 454,354 492,243 503,539
37,889 455,399 493,288 505,254
In Memoriam
In Memoriam 139,599 - 139,599 180,770
139,599 - 139,599 180,770
Gift Aid on Donations
Gift Aid on Donations 255,877 - 255,877 247,671
255,877 - 255,877 247,671
Total Donations and Legacies -
Consolidated 1,966,320 560,085 2,526,405 1,895,108

Of the 2023 income, £1,313,542 was unrestricted and £581,566 was restricted.

60

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

11. Income from charitable activities - Consolidated

Charitable income from funders
Community engagement
Total income from charitable activities		 Unrestricted
Funds
£
Restricted
Funds
£
2024
Total
£
2023
Total
£
30,334
42,725
73,059
14,900
30,334
42,725
73,059
14,900

Total income from charitable activities all relates to prevention. Of the 2023 income, £14,900 was unrestricted and £nil was restricted.

12. Income from other trading activities - Consolidated

Trading activities to raise funds
Income from fundraising events
Income from the sale of donated and
brought in goods
Other income
Total		 Unrestricted
Funds
£
Restricted
Funds
£
2024
Total
£
2023
Total
£
5,433
-
5,433
6,877
638,874
25,437
664,311
789,133
1,936,736
-
1,936,736
2,226,848
7,027
-
7,027
15,422
2,588,070
25,437
2,613,507
3,038,280

Total income from other trading activities split by activity is split by £676,771 (2023: £811,432) fundraising and £1,936,736 (2023: £2,226,848) sales of donated and related goods. All of the 2023 income was unrestricted.

13. Investment income – Consolidated

Dividend income
Bank interest receivable
Total		 Unrestricted
Funds
£
Restricted
Funds
£
2024
Total
£
2023
Total
£
10,670
-
10,670
22,445
633
-
633
826
11,303
-
11,303
23,271

All of 2023 income was unrestricted.

61

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

14. Other – Consolidated

4. Other – Consolidated
Other income
Total		 Unrestricted
Funds
£
Restricted
Funds
£
2024
Total
£
2023
Total
£
(150)
-
(150)
150
(150)
-
(150)
150

Of the 2023 income, £150 was unrestricted and £nil was restricted.

15. Expenditure on raising funds and costs of investment management - Consolidated

Cost of fundraising activities
Marketing & advertising of fundraising
Costs of seeking donations, grants and
legacies
Cost of operating social lotteries
Costs of staging fundraising events
Costs of charity shop selling goods
Gross wages and salaries – fundraising
activities
Other direct costs – fundraising
activities
Staff training & welfare – fundraising
activities
Travel and subsistence – fundraising
activities
Total		 Unrestricted
Funds
£
Restricted
Funds
£
2024
Total
£
2023
Total
£
39,314
-
39,314
137,727
56,060
-
56,060
46,571
846
-
846
269
2,133
-
2,133
2,091
108,187
-
108,187
105,189
2,383,826
-
2,383,826
2,453,227
412,042
-
412,042
569,632
185,289
361
185,650
213,199
-
-
-
40
2,192
-
2,192
5,247
3,189,889
361
3,190,250
3,533,192

Of the 2023 expenditure, £3,505,206 was unrestricted and £27,986 was restricted.

62

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

16. Expenditure on charitable activities - Consolidated

Note
Direct spending
Restricted
Unrestricted
Grant funding
Organisation grants
26
Staff costs
Support costs
Staff costs
Premises costs
Legal and professional fees
Depreciation / interest
Other - admin
Governance costs
Audit fees
Accountancy fees
Tax charge / movement in
deferred tax
Other
Total
 Staff
Costs
£
Other
£
2024
Total
£
2023
Total
£
152,498
348,789
501,287
633,995
169,521
162,664
332,185
282,020
322,019
511,453
833,472
916,015
-
28,403
28,403
12,946
43,769
-
43,769
42,254
43,769
28,403
72,172
55,200
638,377
-
638,377
788,104
-
77,323
77,323
97,317
-
19,529
19,529
12,465
-
32,691
32,691
41,848
-
85,167
85,167
107,339
638,377
214,710
853,087
1,047,073
-
18,000
18,000
37,750
-
9,600
9,600
28,711
-
(9,430)
(9,430)
18,275
-
61,991
61,991
-
1,004,165
834,727 1,838,892
2,103,024

Of the £1,838,892 (2023: £2,103,024) expenditure, £754,110 (2023: £767,881) related to restricted funds and £1,084,782 (2023: £1,335,143) related to unrestricted funds.

17. Summary of charitable costs by activity - Consolidated

Research
Support
Prevention
Total		 Direct
Costs
£
Support
Costs
£
Grant
funding of
activities
£
Governance
£
2024
Total
£
2023
Total
£
833,472
199,326
72,172
16,032 1,121,002
1,436,874
-
286,021
-
28,056
314,077
263,199
-
367,740
-
36,073
403,813
402,951
833,472
853,087
72,172
80,161 1,838,892
2,103,024

63

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

18. Donations and Legacies – Charity only

Unrestricted Restricted 2024 2023
Funds Funds Total Total
£ £ £ £
Donations and gifts from individuals
Donations 1,326 - 1,326 -
Individual Giving 359,378 275 359,653 341,426
Payroll Giving 63,792 - 63,792 69,965
424,496 275 424,771 411,391
Legacies receivable
Legacies receivable 1,008,476 - 1,008,476 351,369
1,008,476 - 1,008,476 351,369
Revenue grants and donations from non-public bodies
Corporate Grants 62,487 - 62,487 73,650
Trusts 26,750 104,411 131,161 113,000
89,237 104,411 193,648 186,650
Sponsorship
Pause for Hope - 1,045 1,045 1,715
Sponsorship 37,889 454,354 492,243 503,539
37,889 455,399 493,288 505,254
In Memoriam
In Memoriam 136,060 - 136,060 179,059
136,060 - 136,060 179,059
Gift Aid on Donations
Gift Aid on Donations 152,105 - 152,105 135,732
Gift Aid from Subsidiary 152,140 - 152,140 141,869
304,245 - 304,245 277,601
Total Donations and Legacies - Charity 2,000,403 560,085 2,560,488 1,911,324

Of the 2023 income, £1,329,758 was unrestricted and £581,566 was restricted.

64

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

19. Income from charitable activities – Charity only

9. Income from charitable activities – Charity only
Charitable income from funders
Community engagement
Total income from charitable activities		 Unrestricted
Funds
£
Restricted
Funds
£
2024
Total
£
2023
Total
£
-
42,725
42,725
14,900
-
42,725
42,725
14,900

Total income from charitable activities all relates to prevention. Of the 2023 income, £14,900 was unrestricted and £nil was restricted.

20. Income from other trading activities – Charity only

Income from fundraising events
Other income
Total		 Unrestricted
Funds
£
Restricted
Funds
£
2024
Total
£
2023
Total
£
305,411
25,437
330,848
330,318
5,866
-
5,866
14,674
311,277
25,437
336,714
344,992

Total income from other trading activities split by activity all related to fundraising activities. All of the 2023 income was unrestricted.

21. Investment income – Charity only

Dividend income
Bank interest receivable
Total		 Unrestricted
Funds
£
Restricted
Funds
£
2024
Total
£
2023
Total
£
10,670
-
10,670
22,445
1,540
-
1,540
1,421
12,210
-
12,210
23,866

All of 2023 income was unrestricted.

65

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

22. Other – Charity only

2. Other – Charity only
Other income
Total		 Unrestricted
Funds
£
Restricted
Funds
£
2024
Total
£
2023
Total
£
-
-
-
-
-
-
-
-

23. Expenditure on raising funds and costs of investment management – Charity only

Cost of fundraising activities
Marketing & advertising of fundraising
Costs of seeking donations, grants and
legacies
Cost of operating social lotteries
Costs of staging fundraising events
Gross wages and salaries – fundraising
activities
Other direct costs – fundraising
activities
Staff training & welfare – fundraising
activities
Travel and subsistence – fundraising
activities
Impairment and provisions –
fundraising activities
Total		 Unrestricted
Funds
£
Restricted
Funds
£
2024
Total
£
2023
Total
£
9,502
-
9,502
87,119
53,935
-
53,935
46,571
846
-
846
269
2,133
-
2,133
2,091
84,920
-
84,920
80,813
412,042
-
412,042
569,632
130,382
361
130,743
141,320
-
-
-
40
2,192
-
2,192
5,246
385,549
-
385,549
-
1,081,501
361
1,081,862
933,101

Of the 2023 expenditure, £905,115 was unrestricted and £27,986 was restricted.

66

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

24. Expenditure on charitable activities – Charity only

Note
Direct spending
Restricted
Unrestricted
Grant funding
Organisation grants
26
Staff costs
Support costs
Staff costs
Premises costs
Legal and professional fees
Depreciation / interest
Other - admin
Governance costs
Audit fees
Accountancy fees
Other
Total
 Staff
Costs
£
Other
£
2024
Total
£
2023
Total
£
152,498
348,789
501,287
633,995
169,521
193,371
362,892
281,019
322,019
542,160
864,179
915,014
-
28,403
28,403
12,946
43,769
-
43,769
42,254
43,769
28,403
72,172
55,200
638,377
-
638,377
788,105
-
77,323
77,323
97,317
-
8,378
8,378
57,422
-
4,143
4,143
6,706
-
82,651
82,651
107,337
638,377
172,495
810,872
1,056,887
-
18,000
18,000
37,750
-
4,200
4,200
22,712
-
48,116
48,116
-
1,004,165
813,374 1,817,539
2,087,563

Of the £1,817,539 (2023: £2,087,563) expenditure, £754,110 (2023: £761,881) related to restricted funds and was categorised as other expenditure. £1,063,429 (2023: £1,319,682) related to unrestricted funds.

25. Summary of charitable costs by activity – Charity only

Research
Support
Prevention
Total		 Direct
Costs
£
Support
Costs
£
Grant
funding of
activities
£
Governance
£
2024
Total
£
2023
Total
£
864,179
162,174
72,172
14,063 1,112,588
1,437,469
-
283,806
-
24,611
308,417
264,101
-
364,892
-
31,642
396,534
385,993
864,179
810,872
72,172
70,316 1,817,539
2,087,563

67

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

26. Breakdown of Grants to organisations

University of Liverpool
Oxford Brooks University
Grants Awarded Payable in 2018
University College of London
University of Nottingham
University of Leeds
Nursery Bursary
Leeds Teaching Hospital
Total		 Unrestricted
Funds
£
Restricted
Funds
£
2024
Total
£
2023
Total
£
-
-
-
9,532
30,246
43,265
73,511
73,511
(10,000)
-
(10,000)
-
(29,974)
-
(29,974)
-
-
-
-
(70,079)
-
-
-
(18)
(1,500)
-
(1,500)
-
(3,634)
-
(3,634)
-
(14,862)
43,265
28,403
12,946

The credit figures included above relate to grants previously accrued which have been released in the year.

27. Investment gains/(losses)

Group and Charity
Listed investments – realised gains
Listed investments – unrealised losses
Total		 Unrestricted
Funds
£
Restricted
Funds
£
2024
Total
£
2023
Total
£
148,223
-
148,223
47,145
(122,842)
-
(122,842)
(27,089)
25,381
-
25,381
20,056

All the gains/(losses) on investments in 2023 were unrestricted.

68

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

28. Tangible Fixed Assets

Group
Cost or valuation
At 1 January 2024
Additions
Disposals
At 31 December 2024
Depreciation
At 1 January 2024
Charge for period
Eliminated in respect
of disposals
At 31 December 2024
Net book value at 31
December 2023
Net book value at 31
December 2024
Charity only
Cost or valuation
At 1 January 2024
Additions
Disposals
At 31 December 2024
Depreciation
At 1 January 2024
Charge for period
Eliminated in respect
of disposals
At 31 December 2024
Net book value at 31
December 2023
Net book value at 31
December 2024		 Leasehold Land
and Buildings
Fixtures
and Fittings
Research Office and
Computer Equipment
Group
Total
£
£
£
£
529,000
378,002
481,170 1,388,172
-
3,850
16,485
20,335
-
-
(117,366)
(117,366)
529,000
381,852
380,289 1,291,141
507,733
306,119
473,250 1,287,102
5,988
20,562
6,190
32,740
-
-
(117,366)
(117,366)
513,721
326,681
362,074 1,202,476
21,267
71,883
7,920
101,070
15,279
55,171
18,215
88,665
Leasehold Land
and Buildings
Fixtures
and Fittings
Research Office and
Computer Equipment
Charity
Total
£
£
£
£
6,783
49,982
350,685
407,450
-
-
12,151
12,151
-
-
(117,366) (117,366)
6,783
49,982
245,470
302,235
6,537
45,086
346,482
398,105
246
336
3,561
4,143
-
-
(117,366) (117,366)
6,783
45,422
232,677
284,882
246
4,896
4,203
9,345
-
4,560
12,793
17,353

69

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

29. Investments held as fixed assets by the Charity

Carrying value of investments
At 1 January 2024
Additions
Cash movement
Disposals
Revaluation
Impairment
At 31 December 2024		 Investments in
subsidiary
undertakings
Loans to
subsidiary
undertakings
Other
investments
Total
£
£
£
£
3
129,592
669,783
799,378
-
-
36,602
36,602
-
-
(12,250)
(12,250)
-
-
(318,643)
(318,643)
-
-
(122,842)
(122,842)
-
(129,592)
-
(129,592)
3
-
252,650
252,653

During the financial year 2024 £129,592 (2023: £nil) of loans to Roy Castle Retail Limited have been impaired in full in Roy Castle Lung Cancer Foundation. This loan had previously been reallocated from long term debtors to investments to better reflect substance in that, whilst it is a long term loan, it is better reflected as a fixed asset investment in a subsidiary, as the intention is that the balance will not be realised through normal trading operating in the near future. The loan is due to be paid on 31 December 2099 or earlier if mutually agreed. Interest is payable at the Bank of England base rate.

The other investments above are held by both the Charity and the Group. Group investments are therefore £252,650 (2023: £669,783).

Analysis of other investments:

nalysis of other investments:
Cash
Listed investments		 2024
£
2023
£
5,233
17,483
247,417
652,300
252,650
669,783

The company holds 20% or more of the share capital of the following companies:

Address Shares held Direct
Class %
Cut Films Limited 1 Ordinary 100
Roy Castle Retail Limited 1 Ordinary 100
Roy Castle Trading Limited 1 Ordinary 100
  1. Registered office address: Cotton Exchange, Old Hall Street, Liverpool, England, L3 9LQ.

70

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

30. Subsidiary companies

Three Trading Subsidiaries

Roy Castle Retail Limited – Company number: 03604677 Roy Castle Trading Limited – Company number: 03909935 Cut Films Limited – Company number: 07313137

Principle Activities

Retail Charity Shops Charity and Charitable Events Provision of Charity Youth Projects

Where liability is limited by shareholding, the amount of the holding company’s investment in each subsidiary is £1, which represents 100% of the issued ordinary share capital of each subsidiary. In all cases, the subsidiary is controlled by the holding company by virtue of the power to appoint directors to the board of the subsidiary.

All companies are incorporated in England and Wales and are exempt from audit.

The subsidiaries’ activities relate to those of the holding company in that subsidiaries are trading enterprises engaging in trades similar to the charitable activities of the holding company which donates their entire taxable trading profit to the holding company by way of gift aid.

Under Section 479A of the Companies Act 2006, exemption from an audit of the financial statements for the financial period ending 31 December 2024 has been taken by the following subsidiary companies:

As required, the company guarantees all outstanding liabilities to which the subsidiary companies, listed above, are subject to at the end of the financial period, until they are satisfied in full and the guarantee is enforceable against the parent undertaking by any person to whom the subsidiary companies listed above is liable in respect of those liabilities.

71

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

30. Subsidiary companies (continued)

A summary of the financial statements of the subsidiaries is :-

Group
Assets and funds
Aggregate amount of assets
Aggregate amount of liabilities
Aggregate amount of funds
Profit and loss
Turnover
Expenses
Net profit for the year before
tax
Interest paid
Interest received
Other operating income
Gift aid payments made to
holding company
Taxation
Net profit/(loss) for the year
after tax and gift aid		 Roy Castle
Trading
Roy Castle
Retail
Cut
Films Limited
2024
Total
£
£
£
£
76,802
288,931
3,505
369,238
(15,072)
(618,107)
(295,774)
(928,953)
61,730
(329,176)
(292,269)
(559,715)
333,463
2,052,772
-
2,386,235
(181,323)
(2,338,067)
(1,166) (2,520,556)
152,140
(285,295)
(1,166)
(134,321)
-
(911)
-
(911)
-
4
-
4
-
34,635
-
34,635
(152,140)
-
-
(152,140)
-
8,929
-
8,929
-
(242,638)
(1,166)
(243,804)
Restricted funds retained within charitable subsidiaries 2024
£
2023
£
40,208
40,208
40,208
40,208

31. Stock

. Stock
Stocks Group
Charity Only
2024
£
2023
£
2024
£
2023
£
93,367
106,614
27,976
27,852
93,367
106,614
27,976
27,852

Stock includes an impairment provision of £10,000 (2023: £6,000).

72

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

31. Stock (continued)

Analysis of the value of stock by activity
Activity
Fundraising activities
Stocks for sales of purchased and related
goods
. Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
Other debtors		 Group
Charity Only
2024
£
2023
£
2024
£
2023
£
27,976
27,852
27,976
27,852
65,391
78,762
-
-
93,367
106,614
27,976
27,852
Group
Charity Only
2024
£
2023
£
2024
£
2023
£
73,587
85,102
65,356
36,285
1,072,713
746,807
929,155
592,636
18,113
14,420
18,113
14,352
1,164,413
846,329
1,012,624
643,273

32. Debtors

A provision for bad debts of £nil (2023: £nil) was included against trade debtors.

The amounts owed from Roy Castle Retail Limited, a subsidiary of the charity, have been provided for in full to the value of £255,957 (2023: £nil).

73

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

33. Creditors: amounts falling due within one year

Trade creditors
Amounts owed to group undertakings
Accruals and deferred income
Other taxation and social security
Bank loan
Corporation tax creditor
Other creditors		 Group
Charity Only
2024
2023
2024
2023
£
£
£
£
238,145
477,390
143,488
318,195
-
-
60,609
27,660
264,563
240,284
194,304
173,825
53,769
64,154
53,769
64,154
40,000
40,000
40,000
40,000
-
19,901
-
-
46,090
121,447
72,712
139,950
642,567
963,176
564,882
763,784

There is debenture in place dated 13 September 2020 in Roy Castle Retail Limited over leasehold property of the company by Barclays Bank plc. There is a cross guarantee between Roy Castle Retail Limited and Roy Castle Lung Foundation.

The amount of the bank loans repayable included in creditors due within one year relates to a Coronavirus Business Interruption Loan received in 2020.

The amounts owed to group undertakings are interest free and repayable on demand.

34. Creditors: amounts falling due after more than one year

Bank loan Group
Charity Only
2024
2023
2024
2023
£
£
£
£
33,333
73,333
33,333
73,333
33,333
73,333
33,333
73,333

The amount of bank loans repayable included in creditors after more than one year relates to a Coronavirus Business Interruption Loan received in 2020. Interest is charged at 2.99% over Bank of England base rate and the loan is secured with a fixed and floating debenture over all assets of the Charity. The amount is repaid in monthly instalments with a final repayment date of October 2026. The amount due after five years is £nil (2023: £nil).

74

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

35. Deferred income

. Deferred income
Deferred income at 1 January 2024
Released from previous years
Resources deferred in year
Deferred income at 31 December 2024		 Group
Charity Only
2024
2023
2024
2023
£
£
£
£
94,152
94,886
88,267
94,886
(94,152)
(94,886)
(88,267)
(94,886)
125,250
94,152
120,000
88,267
125,250
94,152
120,000
88,267

Deferred income of £3,750 (2023: £5,885) relates to income received for the Charity’s community engagement project, and £1,500 for Warehouse (2023: £nil). £120,000 (2023: £88,267) of the income deferred in the year relates to income for GLCC.

36. Provisions for liabilities

. Provisions for liabilities
Dilapidation’s provision
Deferred tax liabilities		 Group
Charity Only
2024
2023
2024
2023
£
£
£
£
108,559
108,992
22,539
24,793
-
9,430
-
-
108,559
118,422
22,539
24,793

Movement on provisions and deferred tax:

At 1 January 2024
Additional provisions in the year
(Realised)/Utilised provision
At December 2024		 Dilapidations provision
Group
Charity Only
2024
2023
2024
2023
£
£
£
£
108,992
163,931
24,793
16,934
-
-
-
-
(433)
(54,939)
(2,254)
7,859
108,559
108,992
22,539
24,793
At 1 January 2024
Credit in the year
At December 2024		 Deferred tax
Group
Charity Only
2024
2023
2024
2023
£
£
£
£
9,430
11,056
-
-
(9,430)
(1,626)
-
-
-
9,430
-
-

75

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

36. Provisions for liabilities (continued)

Dilapidation’s provision

The group and charity have a present obligation to make good leasehold properties it occupies at the end of each respective property lease. Therefore, a dilapidation provision is required based upon the expected discounted cost to make good the properties. £433 of the provision was released in 2024 (2023: £55k) with an additional provision of £nil made as at 31 December 2024 (2023: £nil) due to a review of likely property and lease termination dates. This £109k provision includes £23k in relation to head office and £86k in relation to the shops held by Roy Castle Retail Limited.

37. Charitable commitments not recognised as provisions or commitments in the accounts

The charity operates an open grants process for Research Grants, some grant applications extend beyond one year, however the charity has an annual review policy for grants that extend beyond one year, with the ability to terminate the grant should it not meet its objectives. Grant costs are accrued in the accounts up to the review date of each grant as this forms the contractual obligation.

There is £nil (2023: £nil) of awards that are contingent on the grants meeting their criteria that would then fall across the next two subsequent years' accounts.

At 31 December 2024, the total of the group’s future minimum lease payments under non-cancellable operating leases was:

perating leases was:
Amounts due within one year
Amounts due between one and five years
Amounts due after five years		 2024
2023
£
£
542,799
432,893
1,587,520
1,484,159
711,093
641,059
2,841,412
2,558,111

At 31 December 2024, the total of the charity’s future minimum lease payments under non-cancellable operating leases was:

perating leases was:
Amounts due within one year
Amounts due between one and five years
Amounts due after five years		 2024
2023
£
£
109,799
57,701
392,488
173,705
-
-
502,287
231,406

76

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

38. Related party transactions

The remuneration paid to key management personnel as identified in the Trustees' Annual Report amounted to £353,354 (2023: £365,452).

Balances held with subsidiary companies of Roy Castle Lung Cancer Foundation in the year were as follows:

Included in short term debtors:
Included in investments:
Included in short term creditors:
Interest charged on balances:		 2024
2023
£
£
-
-
-
129,592
(60,609)
(27,660)
911
911

The movement in the amount due to/(from) the charity included in short term creditors relates to amounts advanced in the year of £2,067,740 (2023: £2,244,377), amounts credited in the year of £1,844,732 (2023: £2,423,767) and amounts provided for of £255,957 (2023: £nil).

The movement in investments relates to amounts impaired of £129,542 (2023: £nil).

39. Related party transactions with trustees

During the year, an amount of £4,590 (2023: £882) was paid to a related party in relation to building works during the year.

40. Particulars of how particular funds are represented by assets and liabilities

Group
At 31 December 2024
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Non-current liabilities
Provisions for liabilities		 Unrestricted
funds
£
Restricted
funds
£
Total
funds
£
88,665
-
88,665
252,650
-
252,650
875,225
397,004
1,272,229
(642,567)
-
(642,567)
(33,333)
-
(33,333)
(108,559)
-
(108,559)
432,081
397,004
829,085

77

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

40. Particulars of how particular funds are represented by assets and liabilities (continued)

Charity
At 31 December 2024
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Non-current liabilities
Provisions for liabilities
Group
At 31 December 2023
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Non-current liabilities
Provisions for liabilities
Charity
At 31 December 2023
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Non-current liabilities
Provisions for liabilities		 Unrestricted
funds
£
Restricted
funds
£
Total
funds
£
17,353
-
17,353
252,653
-
252,653
717,058
356,798
1,073,856
(564,882)
-
(564,882)
(33,333)
-
(33,333)
(22,539)
-
(22,539)
366,310
356,798
723,108
Unrestricted
funds
£
Restricted
funds
£
Total
funds
£
101,070
-
101,070
669,783
-
669,783
469,572
523,228
992,800
(963,176)
-
(963,176)
(73,333)
-
(73,333)
(118,422)
-
(118,422)
85,494
523,228
608,722
Unrestricted
funds
£
Restricted
funds
£
Total
funds
£
9,345
-
9,345
799,378
-
799,378
215,156
483,022
698,178
(763,784)
-
(763,784)
(73,333)
-
(73,333)
(24,793)
-
(24,793)
161,969
483,022
644,991

78

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

41. Change in total funds over the year, analysed by individual funds

Group
Unrestricted funds
Group unrestricted
funds
Total unrestricted funds
Charity Restricted
Funds
Sundry RCF Restricted
Reserves
GLCC
Boehringer Ingleheim
Awareness Project
Subsidiary Restricted
Funds
Cut Films Restricted
Reserves
Total restricted funds
Total Group Funds
Charity only
Unrestricted funds
Unrestricted revenue
funds
Total unrestricted funds
RCF Restricted Funds
Research - GLCC
Research - others
Total Restricted Funds
Total Charity Funds		 Funds
brought
forward
2024
Income
Expenditure
Investment
gains
Transfer
between
funds
Funds
carried
forward
2024
£
£
£
£
£
£
85,494 4,595,877
(4,274,671)
25,381
-
432,081
85,494 4,595,877
(4,274,671)
25,381
-
432,081
202,349
205,323
(287,608)
-
-
120,064
281,217
422,924
(466,863)
-
-
237,278
(546)
-
-
-
-
(546)
40,208
-
-
-
-
40,208
523,228
628,247
(754,471)
-
-
397,004
608,722 5,224,124
(5,029,142)
25,381
-
829,085
Funds
brought
forward
2024
Income
Expenditure
Investment
gains
Transfer
between
funds
Funds
carried
forward
2024
£
£
£
£
£
£
161,969
2,323,890
(2,144,930)
25,381
-
366,310
161,969 2,323,890
(2,144,930)
25,381
-
366,310
281,217
422,924
(466,863)
-
-
237,278
201,805
205,323
(287,608)
-
-
119,520
483,022
628,247
(754,471)
-
-
356,798
644,991 2,952,137
(2,899,401)
25,381
-
723,108

79

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

41. Change in total funds over the year, analysed by individual funds (continued)

Group
Unrestricted funds
Group unrestricted funds
Total unrestricted funds
Charity Restricted Funds
Sundry RCF Restricted
Reserves
GLCC
Boehringer Ingleheim
Awareness Project
Subsidiary Restricted
Funds
Cut Films Restricted
Reserves
Total restricted funds
Total Group Funds		 Funds
brought
forward
2023 as
restated
Income
Expenditure
Investment
gains
Transfer
between
funds
Funds
carried
forward
2023
£
£
£
£
£
£
507,641 4,390,143
(4,840,349)
20,056
8,003
85,494
507,641 4,390,143
(4,840,349)
20,056
8,003
85,494
395,462
117,925
(300,535)
-
(10,503) 202,349
310,408
463,641
(495,332)
-
2,500 281,217
(546)
-
-
-
-
(546)
40,208
-
-
-
-
40,208
745,532
581,566
(795,867)
-
(8,003) 523,228
1,253,173 4,971,709
(5,636,216)
20,056
- 608,722

Transfers between funds relates to under charges current and historic staff costs relating to projects treated as restricted reserves.

Charity only
Unrestricted funds
Unrestricted revenue
funds
Total unrestricted
funds
RCF Restricted Funds
Research - GLCC
Research - others
Total Restricted Funds
Total Charity Funds		 Funds
brought
forward
2023 as
restated
Income
Expenditure
Investment
gains
Transfer
between
funds
Funds
carried
forward
2023
£
£
£
£
£
£
645,191
1,713,516
(2,224,797)
20,056
8,003
161,969
645,191
1,713,516
(2,224,797)
20,056
8,003
161,969
310,408
463,641
(495,332)
-
2,500
281,217
394,918
117,925
(300,535)
-
(10,503)
201,805
705,326
581,566
(795,867)
-
(8,003)
483,022
1,350,517 2,295,082
(3,020,664)
20,056
-
644,991

80

Docusign Envelope ID: BDD0CB45-F42B-49D1-8440-A8673423AAF0

Roy Castle Lung Cancer Foundation – Company Number 03059425

Notes to the Financial Statements

For the Year Ended 31 December 2024

42. The purposes for which the funds as detailed in note 41 are held by the charity are:-

Unrestricted funds:- Unrestricted revenue funds These funds are held for the meeting the general objectives of the charity, and to provide reserves for future activities, and subject to charity legislation, are free from all restrictions on their use. Restricted funds:- Sundry RCF Restricted These funds are held for meeting specific objectives of the charity Reserves as specified by the donor, and to provide reserves for future suitable activities subject to charity legislation and subject to the restrictions placed on them by individual donors, in particular to fund lung cancer research for individuals. GLCC These funds are held for meeting specific objectives of the charity as specified by the donor, and to provide reserves for future suitable activities subject to charity legislation and subject to the restrictions placed on them by individual donors, in particular to fund lung cancer research for individuals.

Boehringer Ingleheim To fund lung cancer awareness for individuals. Awareness Project Cut Films Restricted Reserves To stimulate discussion amongst young people about the issue of smoking.

43. Financial instruments

. Financial instruments
Carrying amount of financial assets
measured at fair value through income
and expenditure
Listed investments		 Group
Charity Only
2024
2023
2024
2023
£
£
£
£
252,650
669,783
252,650
669,783
252,650
669,783
252,650
669,783

44. Ultimate controlling party

The Roy Castle Lung Cancer Foundation is the ultimate controlling party and is under the control of its legal members. There is no one individual controlling party. It is the smallest and largest entity for which consolidated accounts are prepared. A copy of the consolidated financial statements can be found at the registered office address: Cotton Exchange, Old Hall Street, Liverpool, England, L3 9LQ.

81