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← Teenage Cancer Trust

2020-12-31-accounts

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ANNUAL REPORT & ACCOUNTS

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Welcome

“I can’t imagine having treatment without Teenage Cancer Trust and they totally, absolutely smashed the support they have given me during coronavirus.” Lakita, Manchester

Objectives and activities 6 Strategic report 7 Achievements and performance 12 Fundraising activities and performance 27 Financial review 36 Financial and management policies 39 Governance and management 41 Risk and safeguarding 43 Statement of Trustees’ responsibilities 44 Independent auditor’s report 46 Accounts 50 Legal and administrative details 61

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WELCOME

Teenage Cancer Trust has been there for me from the moment I was diagnosed with Hodgkin lymphoma aged 22.

The unit at Addenbrooke’s Hospital basically became my second home as I went through treatment. It was so welcoming compared to other wards. The nurses, Youth Support Coordinators and other young people all helped make the days brighter; I felt safe there, and I felt like people understood.

And once treatment finished, I knew I wasn’t alone. The Find Your Sense of Tumour residential weekend was a highlight: I learned loads, made some lifelong friendships, and had a great time in an environment where everyone could relate.

Having cancer turns your life upside down, especially when you’re young. I’d just finished uni and landed my dream job. I was meant to be moving out and starting my adult life – instead, I needed help going to the bathroom and a wheelchair to get round the supermarket. Cancer and treatment gave me a bout of depression and anxiety, which took me a long time to work through. I can’t even imagine how I would have faced it all during a pandemic.

The isolation must be one of the hardest things for young people with cancer in the last year. I spent a lot of time in hospital, and not being able to have visitors would have been really tough, especially at first when you’re scared and don’t know what to expect. 2020 began so well and I was gearing up to go back to work, then the pandemic hit. I’d already had nearly two years of my early twenties taken away, so it was a huge blow. I was very scared of catching coronavirus, even in the summer when restrictions eased, and it got almost debilitating.

I went back and saw the counsellor that my Teenage Cancer Trust team had put me in touch with. She reassured me my worries were valid and gradually helped me feel secure enough to go out for walks, which helped me deal with my anxiety and totally changed my year.

I’m thrilled to be opening Teenage Cancer Trust’s annual report, and I hope you enjoy reading it. I don’t know where I’d be without their support – they’ve been a lifesaver to me, and that’s what inspired me to join their Youth Advisory Group.

I wanted to turn my cancer experience into a positive, hopefully making an impact down the chain for someone else. I’m looking forward to getting to know my fellow group members (fingers crossed in person soon!) and developing my skills along the way. It’s such an exciting venture, and I’m so happy to be part of it.

Alice

Teenage Cancer Trust Youth Advisory Group member

CHIEF EXECUTIVE AND CHAIR’S INTRODUCTION

2020 was also the year that brought into sharp focus that it is time to raise the bar if individuals and organisations are going to tackle structural inequalities in society that have been overlooked, ignored or even denied. The Board and Senior Leadership Team are fully committed to ensuring that Teenage Cancer Trust becomes the diverse and inclusive organisation that young people with cancer rightly need us to be, and to providing the visible, inclusive leadership – and learning – which is essential to underpin and embed this. As a step to supporting this commitment, we recruited a Diversity and Inclusion Lead to help us develop, design and then implement our Diversity and Inclusion action plan, and will update on this throughout the year.

They brought young people together virtually when they couldn’t do so in person, while also being part of the NHS response to the national effort against the pandemic.

Our supporters went the extra mile too. Despite the cancellation of all social fundraising we saw supporters rally on Facebook to raise phenomenal amounts through fitness challenges, and continued support from so many wonderful partners and individuals – truly an unstoppable community.

It’s thanks to all these extraordinary efforts that we were able to protect all of our frontline services for young people, and do more than we’d planned, as you’ll see in this report. We had to adapt along the way: moving to home-working overnight, making use of the government’s furlough scheme, and making temporary changes to pay and working patterns so we could make the savings that protected our service delivery. We very sadly had to say thank you and goodbye to 19 of our talented and committed colleagues as we reshaped the charity towards the end of the year.

So, 2021 will be a year in which we build on our 30-year heritage and expertise – along with the key learnings of 2020 – to set a bold new course for the charity. We know that the decade ahead will see the overall population of young people grow, and this will mean more young people being diagnosed with cancer. We also know there is significant need that we can’t yet meet. We do not yet reach all young people in treatment; young people have complex challenges securing a diagnosis; they do not receive the same access to new treatments through clinical trials as young people in Europe, and there are significant gaps in post-treatment support.

2020 was a year of extraordinary change and challenge for all of us in different ways, but especially for young people going through cancer. This review tells our story of 2020, and our determination to build back stronger so we can continue to be there for young people with cancer.

Our goal as the pandemic took hold was clear: to protect the work we do to support young people with cancer and their families, both today and in the future. While 2020 was not the year we had anticipated financially, we ended the year having outperformed our emergency budget, with a clear plan to see us through 2021 and build back stronger.

We cannot and should not do everything – but there is more for us to do, and we have the potential to do it. Our ambitions will be bold. Our goals for the decade to come will see us do more together – with young people, with clinical experts and with you, our supporters – to improve the experience of every young person with cancer. We look forward to achieving this together.

A huge thank you to everyone who has supported our work in the past 12 months, and over the last 30 years. We rely on donations to make our work possible, so we couldn’t be there for young people with cancer without you.

Young people with cancer needed our support more than ever before in 2020. From our founders to our frontline teams, from our supporters to our colleagues, everyone stepped up in the face of adversity. We have never been more united as a community and we have never been prouder of what can be achieved when we pull together.

As we write this review, the vaccine roll out is impressive and effective, the 2021 lockdown is set to ease and the acute pressures on the NHS are improving. Our priority is to ensure that young people aren’t invisible as the system recovers; to make sure the barriers to equal access to quality, age-appropriate care continue to be broken down; and to reinstate a world-class service for all young people with cancer.

Our Teenage Cancer Trust Nurses and Youth Support Coordinators embodied determination and kindness – delivering compassionate, individual care for young people in the face of a global pandemic.

Kate Collins

Paul Spanswick

Chief Executive

Chair, Board of Trustees

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OBJECTIVES ee AND ACTIVITIES

REPORT

Why we’re here

How we support young people with cancer in the UK

Every day in the UK, seven young people aged 13-24 hear the words “you have cancer”. Teenage Cancer Trust offers them and their families expert support from the point they’re first concerned about cancer.

At Teenage Cancer Trust, we put young people at the heart of everything we do. We believe that young people with cancer are young people first and cancer patients second. Their lives don’t stop and their identity doesn’t have to change when they receive a cancer diagnosis.

Without our expert nurses, support teams and hospital units, young people can feel isolated, receiving treatment either alongside younger children or much older adults. They might never meet another person their age who knows what they’re going through.

We listen to young people to understand their needs, and then work with them to meet these needs at every stage of their cancer treatment and recovery.

Teenage Cancer Trust is dedicated to every one of these young people to make sure they receive the very best individual, age-appropriate care and support.

Our current strategy and plans for the future

2020 was the final year of our 2015-20 strategy, which had a goal of reaching every young person with cancer in the UK. The focus of our original plan was to complete the rollout of our outreach nursing and support service across the UK. However, as the pandemic broke out in March and we anticipated a dramatic fall in income, we agreed that the immediate priority was to protect existing frontline services wherever possible. As a result, the further rollout of the outreach service was paused and has not yet been resumed.

Our vision: a world where cancer doesn’t stop young people from living their lives.

STRATEGY 2015-2020: TO REACH EVERY YOUNG PERSON WITH CANCER

Our purpose: we improve young people’s experience of living with cancer.

2020 was the final year of our five-year strategy to reach every young person with cancer in the UK.

OUR VALUES

We know that not all young people diagnosed with cancer between the ages of 13 and 24 are treated on one of our 28 specialist units. Some young people are treated in local hospitals because they choose to have their treatment closer to home, or their cancer requires less specialist treatment and can be managed locally. And there are still some occasions where a young person isn’t referred to the Teenage and Young Adult Multi-Disciplinary Team at the Principal Treatment Centre where our unit is based because their clinician isn’t aware that the specialist service exists.

To make sure that young people received the very best care and support during treatment in this challenging year, we continued to invest in frontline staff to provide specialist care, and hospital units that provide an ageappropriate space for young people.

How we go about achieving our vision is also important. That’s never been truer than in 2020, with all the additional pressures the coronavirus pandemic brought to the charity sector, the NHS, and young people with cancer.

In such a challenging year, our values guided and grounded our decisions, and helped make sure we continue to put young people at the heart of everything we do.

Our other two areas of service delivery – our work before diagnosis and supporting young people after treatment has finished – were severely impacted by the pandemic. aware that the specialist service exists. Planned events included our annual Find Your Sense of Tumour conference in the summer, and the Global Congress that was due to take place in July. As a result, spend in both areas was significantly curtailed to ensure the continuity of frontline services – making sure we were Teenage Cancer Trust Clinical Nurse Specialist. still there for young people with cancer when they needed us most. In 2020 we were planning to roll out the programme in

Our 2015-2020 strategy was to roll out an outreach nursing and support programme, so that young people who choose to be treated closer to home can still receive support from a

~~DETERMINED UNITED~~

In 2020 we were planning to roll out the programme in a further 10 regions in England (six of which were well underway at the start of the year) and also in Wales. When coronavirus struck at the start of March, we had recruited a further five Clinical Nurse Specialists (two in the South Coast/ Wessex region, two in London and one in the South East). In the initial acute phase of the pandemic, our income took a significant hit and to ensure both the short and long-term survival of our service, our Trustees paused new spend until our finances had been stabilised. This meant we took the difficult but necessary decision to pause the expansion of the ~~_~~ outreach nursing and support programme.

~~YOUNG PEOPLE~~ So, in many ways, 2020 was not the year we had planned. But it was a year in which we discovered that we are ~~SPIRITED KIND~~ stronger and more resilient as an organisation than we ever dared imagine.

These values shone through in our remarkable nurses and Youth Support Coordinators, our unstoppable community of supporters, our dedicated staff and volunteers, and in the young people we helped as they dealt with an array of additional challenges during the pandemic.

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FOCUS FOR 2020

At the outbreak of the pandemic, our focus shifted immediately to protecting our frontline services, as income looked set to fall dramatically.

We continued to invest in nurses and Youth Support Coordinators, who did an incredible job to adapt how they cared for young people by supporting them digitally as well as in person. We did all we could to keep our units open, as hospitals came under increasing pressure for both nurses and spaces.

In response to Government restrictions, we stopped all face-toface activity outside of hospitals, which meant we were unable to host young people at the Ultimate Backstage Experience at the Royal Albert Hall in March, or hold the annual under-18s Find Your Sense of Tumour (FYSOT) event in June. However, the team were determined not to let the pandemic curtail all of their plans, so we innovated to host the over-18s FYSOT event online in December.

When international travel became extremely challenging, we were forced to postpone the 2020 Global Adolescent and Young Adult Cancer Congress, which we have now reimagined as a virtual event to be held in late 2021.

Our frontline staff in the NHS rose fully to meet the challenges of 2020, and where they were unable to meet young people face-to-face they used Zoom and Teams to stay connected in new and imaginative ways, often reaching young people who would not have been able to attend an in-person activity or event.

We moved quickly to develop and launch Teenage Cancer Trust Connect, a peer support platform for young people with cancer, enabling them to connect digitally when they could no longer meet face-to-face.

Concerned by the drop in new cancer referrals during the first wave of the pandemic, we launched the #BestToCheck campaign to educate young people and families on common cancer symptoms in teenagers and young adults. We encouraged them to contact their GP if they had any worrying symptoms, even during the pandemic.

Fundraising also had to be swiftly reimagined. With the loss of so many in-person fundraising opportunities, we lost a great deal of planned income for 2020. Some of this was replaced by quickly moving to new opportunities, but by the end of the year our income was £5m below budget.

FOCUS FOR 2021

Our focus for 2021 is to continue the process of Building Back Stronger from the pandemic. There are four main pillars to this:

■ Rebuilding revenue: incrementally building back revenue in a way that is both resilient and sustainable in a post-pandemic world. We have benefitted from some remarkable fundraising activities during the pandemic, and these will be merged into a diversified fundraising portfolio seeking to deliver longterm sustainable growth;

■ Rethinking how we work: in 2020 we were forced to work in very different ways as we moved quickly to a remote working environment. Much of what we learned in 2020 is here to stay as we shift to more agile ways of working, flattening hierarchies and having a laserlike focus on the needs of our supporters and stakeholders. We will need to focus on hiring and keeping diverse talent, which will demand we create a unique work experience with a renewed emphasis not only on talent development but also on diversity and inclusion;

will take every opportunity to develop digital ways of working, accelerating the adoption of digital solutions and systems.

Within this broader context, we have two sets of objectives for 2021. The first aim to further stabilise the charity and recover from the pandemic, and the second set our future strategic direction.

Our stabilisation and recovery objectives are:

Setting our future strategic direction includes:

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STRENGTH visits to our information IN NUMBERS[57,729] page on cancer warning signs

OUR SERVICES IN 2020: SOME STANDOUT STATS…

35 Teenage Cancer Youth Support Trust Nurses Coordinators funded funded

invested in life-changing cancer services

67

young people piloted Teenage Cancer Trust Connect

new members joined our Youth Advisory Group

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ACHIEVEMENTS AND PERFORMANCE

During our 2015-2020 strategy we described our work as focusing on three areas: before diagnosis, during treatment and after treatment has finished.

WHAT WE DID

As a result of the pandemic, and the significant disruption to teaching in schools, we took the decision to place our education team on furlough leave and focus on providing high quality information online.

2020 is the last year that we’ll talk about our services in this way. From 2021 onwards, our service provision will fall into the following three categories:

This has resulted in a greater breadth and depth of information for people to access on our website, including detailed and regularly updated information for young people shielding from coronavirus.

In the first wave of the pandemic, there were reports that people concerned about signs and symptoms which might be cancer were not visiting their GPs in order to reduce pressure on the NHS. In response, we launched our #BestToCheck campaign, educating young people and families on the most common cancer symptoms in teenagers and young adults, and encouraging them to contact their GP if they have any concerns, even during the pandemic.

Before diagnosis

WHAT WE PLANNED

Following a number of years of influencing activity, in 2019 we were successful in securing a commitment for cancer awareness to be part of the National Curriculum in England and we hope Scotland, Wales and Northern Ireland will follow suit.

“I didn’t realise the symptoms I had were related to cancer. Early diagnosis is really important, so knowing and understanding the signs and symptoms is probably the best thing you could do for yourself.”

Our role pre-diagnosis therefore shifted from delivering in-school education sessions to providing resources to help teachers meet the curriculum requirements around cancer.

In 2020 our planned focus was on amplifying the voice and experiences of young people with cancer in our education and information resources, and further improving the quality and quantity of our digital resources and information, particularly for young people – and their family and friends – who might be concerned about cancer.

Angel, London

>20m PEOPLE saw our #BestToCheck campaign posters

>7m views of our #BestToCheck videos on TikTok

50 MPs supported the campaign on social media

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We educated and empowered young people and their families through our coronavirus information and #BestToCheck campaign.

THE CHALLENGE

Early diagnosis of cancer can save lives. But in the early weeks of lockdown, we became aware that cancer referrals from GPs were significantly down.

Awareness of potential symptoms among young people is low in general, and young people already take longer on average to speak to someone after they first notice something might be wrong.

We were worried that young people were putting off getting cancer symptoms checked due to the pandemic or lockdown restrictions, leading to a potential wave of late diagnoses and long-term complications for them and the NHS.

THE RESPONSE

We developed #BestToCheck over three weeks in April. Young people and our nurses starred in videos sharing the campaign message across social media, and Clear Channel, who run one of the UK’s biggest outdoor advertising networks, generously donated a significant amount of space to help us promote the campaign on digital out of home screens nationwide.

We ran the campaign again in October, working with three TikTok creators (with a combined follower count of 5.4 million!) to share the #BestToCheck message with a new audience including many 13-24 yearolds with no prior cancer awareness.

THE RESULTS

with a combined readership of around 90 million

Joe was diagnosed with Hodgkin lymphoma aged 21. He told us how the #BestToCheck campaign resonated with him.

When they told me I had lymphoma, I “ didn’t know what it was. They checked my lymph nodes and found a lump in my neck. I’d just thought it was part

of the muscle. I also had night sweats

and weight loss, as well as tiredness

during my army training – all textbook

symptoms of cancer in young people, but I didn’t know about them.

I had an operation to remove the lump. The results showed the cancer was at stage 4 – the most progressed

– and hearing that was both surreal

and scary. I thought I’d left it too late.

I started chemo and Teenage Cancer Trust’s Youth Support Coordinator was at the sessions with me. She’d ask how I was doing, see if I had any worries and answer any questions I had. I also made friends with young people on the unit who were further along with treatment, and seeing them three or four months ahead of me and doing well gave me hope.

If one person gets their symptoms checked out as a result of me sharing my experience, then I’d be really happy.

I would encourage every young person to familiarise themselves

with the symptoms, so they know if anything’s out of the ordinary.

I thought the great thing about #BestToCheck was that it gave you

all the information really simply and quickly.

When you spend hours of your day watching TV or on social media, you need to make a few minutes for something as important as this.

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During treatment

WHAT WE PLANNED

The rollout of our outreach nursing and support service across the UK was originally due to be completed in 2020 with the addition of a further 15 new posts.

We also aimed to continue with the rollout of the IAM (Integrated Assessment Mapping) portal, a digital platform to support young people from the point of diagnosis.

And we planned to continue our investment in all existing units, nurses, Youth Support Coordinators and MultiDisciplinary Team Coordinators, as well as adding 13 new roles.

WHAT WE DID

We took the difficult decision to pause the rollout of our outreach nursing and support service. This was both due to the impact on fundraising from coronavirus, and because recruiting new nursing roles was going to be impossible when resources in the NHS were rightly focussed on responding to the pandemic.

The rollout of the IAM portal was also delayed for several months as the NHS focused on managing the pandemic, and was not completed in 2020.

Our focus was instead on protecting our existing frontline services – the UK’s only specialist network of treatment centres, nurses and experts supporting young people with cancer.

We’re pleased to report that despite all the challenges that coronavirus brought, we were able to maintain our services throughout the pandemic.

The vast majority of our 28 hospital units remained open throughout the year, except where for short periods of time a very small number of units were temporarily re-purposed as part of the extraordinary national response to the pandemic. In all these cases we were able to continue delivering our services to young people. We continued to invest in 57 Teenage Cancer Trust Nurses, 35 Youth Support Coordinators and 7 Multi-Disciplinary Team Coordinators.

Our frontline staff showed amazing resilience and creativity to continue providing outstanding care under the most difficult circumstances. All of our Youth Support Coordinators had to spend at least some of 2020 working from home, adapting their service to support young people remotely.

We moved quickly to develop and launch Teenage Cancer Trust Connect, our dedicated social media platform for young people with cancer. This was launched in September and has helped Youth Support Coordinators continue to support young people digitally, as well as allowing young people going through treatment to connect and support each other in a safe and secure environment. The platform will have a long-term value in enabling young people to connect in different ways, even after face-to-face support becomes possible again.

While developing Connect, we also launched an advice hub on our website with resources to support young people’s wellbeing, and ran a series of webinars to help young people deal with anxiety caused by cancer and coronavirus.

Caroline

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Rob
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Sue
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Nurse Consultant Sue and Youth Support Coordinators Caroline, Rob and Lois told us how they made sure young people with cancer still got the very best care in 2020.

Lois: “Every couple of weeks I’ll send out a message asking young people to send back a heart emoji, with different colours depending on how you’re feeling. It’s a way of checking in without the young people having to use words or ask for your help.”

Sue: “We’re also doing our endof-treatment meetings with young people online – giving them reassurance at a time when the worries of completing treatment can be intensified by coronavirus.”

THE CHALLENGE

Caroline: “Lockdown came at a time worries of completing treatment can when we had a lot of newly diagnosed be intensified by coronavirus.” young people who I hadn’t met face-to-face. A huge part of building THE RESULTS trusting relationships is people seeing your expressions and getting that human connection.” Caroline: “The sense of community, peer support and social interaction Rob: “When young people are the activities provide is so important to young people. And professionally, diagnosed now, they’re not really having regular virtual meetings with going to be seeing other patients at the other Youth Support Coordinators all, and that can be really hard.” around the country has been really valuable.”

Sue: “We had to cut down outpatient appointments to avoid too many people being together in the hospital. Those appointments are a way for young people to touch base with us and see their peers, and for us to pick up any troubles they might be having.”

Lois: “My virtual events have different people on them than my ‘normal’ events like escape rooms and meals out with loads of people, which maybe aren’t as accessible for everyone – so there’s loads to be said for continuing the virtual support even when we’re back to normal.”

THE RESPONSE

Rob: “We were able to set up some Rob: “Covid-19 doesn’t stop online groups quite quickly. We teenagers and young adults being normally do a weekly quiz, which the diagnosed with cancer. It’s about young people have loved! And we’ve making sure we’re still there for done art sessions, online escape young people. And giving them the rooms, team building sessions, ukulele chance to meet their peers, when that lessons, a ‘bonsai club’…” opportunity just isn’t there otherwise, can be massively important.”

Caroline: “We’ve had to be creative, think on our feet and ask what young people want, which is actually a big part of our job anyway. I’ve done lots of one-to-one video calls, talking to young people about things like body image, sexuality, relationships – anything they need practical or emotional support with.”

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After treatment has finished

WHAT WE PLANNED

We provide a variety of activities and services that continue to support young people once they’ve finished treatment and as they transition to their personal ‘new normal’. Most of these activities are usually delivered face-to-face and so were severely impacted by the pandemic.

Throughout 2020, our staff were there for young people during treatment, and those like Lakita navigating life after cancer.

I went into remission a few months “ before the country went into lockdown. I was gutted that I was just getting back onto my feet and then the pandemic changed everything.

Teenage Cancer Trust’s Youth Support Coordinators Lori and Steve at The Christie were fantastic. They knew that myself and the other young people who’d had cancer treatment needed support now more than ever.

They couldn’t do face-to-face activities, but they put together a programme of events which ran every night. There were things like quizzes, games nights, and music events. They also set up virtual talks from local famous people, including Manchester United players, make-up artists and comedians.

We had originally planned to deliver the Ultimate Backstage Experience (a week of VIP days out for young people at the Royal Albert Hall), a series of Way Forward weekends and two Find Your Sense of Tumour conferences as face-to-face events. 67 Our modified target for 2020 was to young people and 17 run one Find Your Sense of Tumour Teenage Cancer Trust 58

~,

young people and 17 Teenage Cancer Trust Nurses and Youth Support Coordinators young people attended across four NHS Trusts the first-ever virtual signed up to pilot the FYSOT, tuning into Connect platform talks on topics from wigs, skincare and exercise to body image, mindfulness and fatigue after cancer

Our modified target for 2020 was to run one Find Your Sense of Tumour (FYSOT) conference in December. With the usual face-to-face activities unable to run, the team that delivers this work were furloughed for most of the year in order to save money and protect our frontline services.

I got to know the other young people on the calls really well and feel I know so much about them now. I’ve met two of my closest friends through the calls and I now speak to them every day without fail.

WHAT WE DID

My mental health was another thing Lori helped me with. I caught coronavirus after going back to university. I was worried about having to isolate and sit with my thoughts for two weeks because my mental health was bad.

We delivered a virtual Find Your Sense of Tumour event for over-18s in December. Although the numbers attending were lower than we’d hoped, this was an initial pilot event which has evaluated positively and will provide a firm foundation to develop further digital events in 2021.

“I would 100% sign up for virtual FYSOT again. You can see how much hard work and love has gone into making it an online event. It’s just phenomenal that it’s still able to happen even during these crazy circumstances.”

Lori listened to me and set me up with some counselling straight away. I was worried in case the thoughts came back, but Lori told me I could ring her at any time. Just knowing she’ll always be there for me was so powerful and made me feel so much better.

We also brought forward the development of the Teenage Cancer Trust Connect platform in response to the fact that so many of our usual face-to-face post-treatment support activities were unable to run. Connect can be used by young people during or after treatment to meet others who’ve been through similar experiences and get support from our Youth Support Coordinators.

I don’t know what I would do without Lori and Steve. I can’t imagine having treatment without Teenage Cancer Trust and they totally, absolutely smashed the support they have given me during coronavirus. ”

Jack, Manchester

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INNOVATION VS ISOLATION

THE CHALLENGE

THE RESPONSE

THE RESULTS

Eddie Lawson

Darcy was diagnosed with skin cancer at 21. She became a pioneer by attending our first-ever virtual Find Your Sense of Tumour.

I hadn’t been to any face-to-face “ events as coronavirus struck not long after I was diagnosed. The online support from Teenage Cancer Trust was incredible though. When I saw an advert for virtual FYSOT, I signed up straight away.

Throughout the weekend there were lots of webinars and then we’d jump back into Zoom groups. I’d already met some people in my group so that helped me settle in, but it was good to meet some new young people too.

Usually when I’m part of online game nights with my regional group, we have nice chats, but the breakout sessions at FYSOT helped us have more meaningful conversations. The sessions on mindfulness and resilience allowed us to open up about mental health.

I still go for scans and waiting for them makes me really nervous. I was also told when I was diagnosed that the cancer probably wasn’t because of anything I’d done, but that it could have been. I tend to put quite a bit of blame on myself anyway, and I found that difficult.

So I was particularly interested in the sessions at virtual FYSOT on being kind to yourself. I’ve had cognitive behavioural therapy, but this really helped me build on that and come up with new techniques to help cope with worries and anxiety.

Overall I thought the event was amazing. I can’t believe how much thought and planning went into it. I was worried I’d be glued to the computer the whole time and I’d get a bit lethargic. But there were sessions where we were online in our group and could talk and listen, but instead of just staring at the screen we were doing things like drawing or making models out of plasticine.

my friendship circle with people who can relate to what I’ve been through.

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Policy and campaigning

Our Policy, Public Affairs and Campaigns team achieved some great things despite our plans for 2020 completely changing due to the onset of the coronavirus pandemic.

Before lockdown in March, we were active in the UK Parliament. We spent time developing relationships with newly elected MPs following the election in 2019, to help ensure that young people with cancer were at the forefront of their thinking. Throughout the year we still managed 45 meetings with MPs and Ministers to share the experiences and needs of young people with cancer.

Alisha before her diagnosis

In February we delivered a public meeting of the All Party Parliamentary Group for Children, Teenagers and Young Adults with Cancer alongside CLIC Sargent. At an event attended by MPs and the Minister for Cancer, Jo Churchill MP, we were able to show the needs and challenges of young people with cancer in getting a swift and accurate diagnosis. Alisha, a young person we’re supporting after her cancer diagnosis at 21, spoke about the delays she experienced – empowering other young people not to sit on symptoms, and influencing key decision-makers in the room to work to improve the diagnosis experience of young people with cancer.

As the first wave of the pandemic hit, we were concerned about falling cancer referrals across the country, and how this might be impacting young people.

In response, we developed the #BestToCheck campaign, running throughout April and May to encourage young people to contact their GPs if they had concerns or noticed symptoms. We then ran a second iteration of the campaign later in the year, providing a specific focus on young people to complement the NHS’s cancer awareness raising activity.

Alongside this, we proactively came together with other cancer charities as part of the One Cancer Voice coalition to provide clear and consistent information about coronavirus for young people with cancer. Our Policy team represented the organisation on weekly (at times bi-weekly) calls with the Deputy Chief Medical Officer and the NHS Cancer Programme, to make sure Teenage Cancer Trust could help young people access the information they needed about shielding, possible impacts on treatment and what national measures meant for them.

We were delighted to work with Jim Shannon MP to secure a Westminster Hall debate to highlight the specific needs of young people with cancer – a debate where the work of Teenage Cancer Trust was referenced 20 times by MPs.

We worked with frontline staff to conduct a study into how the pandemic was impacting young people with cancer. We published a report in June that highlighted these experiences, including how young people were feeling more isolated than ever before, and facing reduced access to members of their treatment teams such as physiotherapists and psychologists.

Our Chief Executive Kate Collins is also the Chair of the Children & Young People’s Cancer Coalition and was invited to join the NHSE Cancer Recovery Taskforce to ensure that the needs of children and young people were identified as part of the wider recovery of cancer services in England.

We worked with Shadow Minister for Health, Alex Norris MP, to meet with members of Teenage Cancer Trust’s Youth Advisory Group and hear about their experiences. Alex Norris spoke in glowing terms about the meeting, recalling it as “eye-opening, hard to hear at times, but so inspiring”.

™m As an organisation, we’re committed a* to ensuring that young people’s voices are heard throughout our 3 work. Our Youth Advisory Group was created in 2018 to make sure young people are represented in the aa charity and consulted on a variety of different issues. These young people, who all have experience of cancer as a teenager or young adult, come from across the UK, with different diagnoses, ages, and backgrounds to reflect the diversity of the group they represent.

In 2020 there were 20 active members who met in person once (in February before the pandemic struck) and continued to communicate online between meetings. Over July and August, we recruited 26 new young people to the second cohort of our Youth Advisory Group, who had their first virtual meeting in November. Like their predecessors they’ll work with us on a variety of issues, including taking part in the recruitment of senior team members, helping develop our IAM portal, giving feedback on many areas of service delivery, helping shape our planned new strategy and speaking at events to showcase our impact on young people.

Training and support

Continuing to develop and share world-leading knowledge and expertise through a professional network is fundamental to our work.

We continued to support the professional development of the nurses and Youth Support Coordinators we fund in the NHS through two educational programmes at undergraduate and postgraduate level.

Research

We continued to fund two clinical academic researchers, one at the University of Leeds and the other hosted by the National Cancer Research Institute.

Outcomes from this funding include a portfolio of research on young people with cancer (including the evaluation of teenage and young adult specialist care, outcomes for young people with cancer and young people’s experiences of diagnosis), the instigation of new studies, submission of new funding applications and the publication of papers in peer-reviewed journals to inform an evidence-based approach to improve outcomes for young people with cancer.

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Plans for 2021

Together we achieved a huge amount for young people with cancer in 2020, and we’ve learned so much along the way.

We found out that we’re more resilient and more creative than we’d ever thought possible this time last year. We’re also in a much more stable position as a charity, having outperformed our emergency budget thanks to the amazing efforts of so many people.

As a result, we have a solid plan to build back stronger in 2021 – not just returning to where we were before the pandemic, but picking up the best of what we’ve learned in 2020 and running with it.

In 2021 we’re moving away from describing our services as before, during and after treatment. In line with our emerging strategic direction, our services will fall into the following three areas:

■ Providing care and support directly to young people with cancer. This will include developing high-quality age-appropriate information in the format that works best for young people; developing digital apps and solutions so that we can reach more young people; re-imagining conferences and support events in the post-coronavirus world; and providing funds so that our Youth Support Coordinators can provide personalised support in a way that works best for the young people in their care.

■ Providing care and support in partnership, primarily with the NHS. This is the main body of our service provision, where we work in partnership with the NHS to provide age-appropriate spaces and specialist staff. In future we intend to expand our partnership working, with new partners including other charities, working together to meet the complex needs of young people with cancer. By working this way, we can draw on a variety of experts to deliver the best care for young people, ensuring that there are no gaps in meeting their needs while avoiding duplication.

■ Advocating and influencing to improve the system. This work includes campaigning and influencing with and on behalf of young people, with the aim of improving the system and service provision for all young people facing cancer. We will put young people at the heart of this work, making sure their voices are heard and their needs are not forgotten in policy and healthcare decisions.

In 2021, in each of these three areas we plan to deliver the following.

Providing care and

support directly:

■ Rollout of the holistic Integrated Assessment Mapping (IAM) tool across all regions of the UK so that all young people have access to this tool from the point of diagnosis. The IAM tool helps young people and healthcare professionals work together to identify the emotional and clinical support they need as they go through cancer treatment, driving personalised care. The data we collect through IAM will also help us shape future services in response to the needs identified

Providing care and support in partnership:

Advocating and influencing to improve the system:

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FUNDRAISING ACTIVITIES

Our future strategy

2021 will be the year we develop our next strategy for 2022 and beyond. This will lay down our next set of strategic goals, within the overarching mission of improving the experience of young people with cancer.

This strategy will build on the work of the last 30 years, which has centred around the development of a national teenage and young adult cancer service embedded in the NHS.

This is the beginning. The next challenge is to build on these foundations to develop a seamless provision of care and support, from the point of diagnosis until a young person no longer needs us. The end goal is the provision of personalised, high-quality holistic care for every young person diagnosed with cancer in the UK.

Our next strategy will dig deeper into understanding the unmet needs as articulated by young people, and will seek to build on our existing services in the three areas outlined above: providing care and support directly, providing care and support in partnership, and advocating and influencing to improve the system.

2020 was a tough year for everyone and every sector – few more so than for young people facing cancer. But coronavirus also brought exciting opportunities and the acceptance of widespread use of digital solutions across the NHS. We can build on this with innovation and vision to develop a high-quality care offering that blends the very best in face-toface care with the immediacy and accessibility of digital support.

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Our approach to fundraising

We’ve seen incredible dedication and commitment from our supporters this year, and we work tirelessly to make sure their support changes the lives of young people with cancer.

Like so many charities, we were hit hard by the coronavirus pandemic. Our fundraising was particularly vulnerable as so much of it relied on social contact, including challenge events and our flagship Royal Albert Hall gigs, which we had to cancel in 2020 and again in 2021.

The exciting plans we’d made in 2019 to develop our fundraising were put on hold. We made a range of changes to our approach so that we could focus on working with all our incredible supporters but through a smaller staff team, while making maximum use of the government’s job retention scheme.

This year brought benefits that we’re keen to learn from and build on: faster and more agile ways of working, simpler team structures and closer cross-team collaboration.

We also discovered new and exciting ways to fundraise. And we saw incredible dedication from so many organisations and individuals, as life-changing gifts were given, partnerships extended, and new relationships developed.

We continued to focus on our Fundraising Principles to guide our work and help supporters understand exactly what to expect from us.

We work in partnership with our fundraisers, supporting them with resources and advice to make sure their fundraising is safe and legal. We work hard with all our fundraising staff to make sure that any vulnerable supporters – in particular – are treated with respect and care, and in line with our Vulnerable Persons Policy.

We’re committed to ethical fundraising and are members of the Fundraising Regulator and Chartered Institute of Fundraising, and adhere to the Fundraising Regulator Code of Fundraising Practice. In 2020 we implemented the change to the compliance function agreed in 2019, including a new roadmap to fundraising compliance signed off by Trustees. This included developing new and updated policies on Fundraising and Complaint Handling.

In 2020, we engaged an agency to carry out telephone fundraising on our behalf. We worked closely with the agency to ensure this was carried out in line with our values.

Additionally, we were delighted to work with Omaze (a company that partners with charities to raise funds through various prize draw events) in 2020 to raise significant funds to support our work through entries to their Million Pound House Draw.

In 2020 we received 58 complaints (out of a total of 119,200 interactions with our supporters). We are not aware of any complaints being made to the Fundraising Regulator.

Teenage Cancer Trust relies wholly on public donations. We receive no NHS funding, and other than benefiting from the furlough scheme in 2020, we receive no government funding either. The fundraising efforts carried out by individuals and companies on our behalf are vital to ensure we’re there for the young people who need us.

In a year when sticking together in tough times felt more important than ever, the way our supporters stuck with us in 2020 makes us extremely grateful.

YOU’RE ALL LEGENDS – THANK YOU.

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6,886 amazing supporters around the UK raised a total of £2.5 MILLION through head shaves, virtual quiz nights and other challenges

OUR SUPPORTERS PROVED THEY’RE A TRULY UNSTOPPABLE COMMUNITY IN 2020…

4,235 people each ran 100 miles in August raising an incredible

5,843 people each did 3,000 push ups, raising an unbelievable £1 MILLION!

We partnered with Omaze to raise £250,000 through their Million Pound House Draw

Our friends Aldi reached the incredible fundraising total of

The legends at Domino’s Pizza reached the total of £4m in five years

in three years

11 LEGENDARY ARTISTS donated exclusive unseen footage from our Royal Albert Hall shows, clocking up over 1 million YouTube views to raise vital funds and HELP MAKE SURE NO YOUNG PERSON FACES CANCER ALONE.

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HOW WE ~~£1.6m £1.1m~~ — | ~~Lo~~ (10.2%) (7.1%) RAISED Trusts and foundations MONEY Grants from charitable foundations and trusts.

Coronavirus Job Retention Scheme The charity used the government’s furlough scheme during the pandemic to reduce costs and ensure frontline services could be maintained.

~~£1.6m~~

(10.2%) Music and events Income from music and special events.

We’re extremely grateful for the support of all the trusts, foundations and individuals that supported our work in 2020, including:

~~£7.7m~~ (49.4%) Donations and public fundraising This includes individual and group fundraising from challenge, community and special events as well as one-off or regular donations.

TOTAL INCOME

~~£3.6m~~

(23.1%) Corporate partnerships Income from corporate partners including charity of the year partnerships and

Anthony and Tina Hene Barclays UK Baroness Ros Altmann BBC Children in Need Christian Salbaing David Sullivan Elizabeth and Prince Zaiger Trust Garfield Weston Foundation Moondance Foundation

Paskin Children’s Trust Paul Williams Peter and Janice George Robert and Liina Small Shahe Ouzounian Sir Graham Wylie Foundation Sir Robin and Lady Saxby The Carole and Geoffrey Lawson Foundation The Coffer Foundation

employee fundraising.

~~—~~ ~~£1.2m —~~ ~~£2.5m |~~ HOW WE (8.0%) (16.7%) Baroness Ros Altmann SPENT Supporting young people after treatment Before diagnosis This includes our BBC Children in Need ~~—~~ MONEY This includes our virtual Find work to raise Your Sense of Tumour event and awareness of cancer. Christian Salbaing the development of the Teenage Cancer Trust Connect platform. David Sullivan ~~£4.4m~~ (29.3%) Elizabeth and Prince Zaiger Supporting young ~~£1.5m~~ Trust people during treatment (10.0%) This includes running and Underpinning Garfield Weston Foundation maintaining 28 units in our services hospitals across the UK; re This includes Moondance Foundation funding our expert nurses, our policy and Youth Support Coordinators TOTAL influencing work, and Multi-Disciplinary Team EXPENDITURE safeguarding, Coordinators; and funding and research and service development of NHS nursing development. and support staff. £15.0m ~~£5.0m~~ (33.3%) Fundraising For every £1 we spent on fundraising ~~£0.4m o~~ O activities, we raised £2.73 to make sure ~~=~~ (2.7%) Pe no young person faces cancer alone. Trading

The Geoff and Fiona Squire Foundation

The Hon Giles Wigoder

Three Ells Trust

Vichai Srivaddhanaprabha Foundation

Waterloo Foundation

...and every individual who made a donation, large or small.

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Even though we couldn’t get together in person this year, we still found ways to celebrate some of the amazing people who exemplify our purpose, values and passion.

TEENAGE CANCER TRUST 2020 AWARDS

In July we hosted the inaugural Teenage Cancer Trust Awards, supported by Morgan Stanley.

Our Honorary Patrons HRH Princess Beatrice and HRH Princess Eugenie presented awards to seven winners, including young people, fundraisers and frontline staff, whose feats have have supported our vision of a world where cancer doesn’t stop young people living their lives.

We know there are so many more incredible people who deserve to be celebrated and thanked – and these Awards will become an annual event so we can do just that.

Full list of Teenage Cancer Trust 2020 Awards winners:

Enid Waterfall Julie Gonzalez Crystal Marshall Mike and Pascale O’Leary Alex Charlton The Truants & The Heavy Metal Truants Nicky Pettitt

FOUNDERS’ AWARDS

In December, our Honorary Patron Sarah, Duchess of York, along with Their Royal Highnesses Princess Beatrice and Princess Eugenie, joined us for an emotional virtual event celebrating 30 years of the charity.

Along with our founders Adrian and Myrna Whiteson, they thanked just a few of the people whose vision and determination have helped revolutionise cancer care for young people since our first unit opened in 1990.

This included our Honorary Patron Roger Daltrey CBE, who has tirelessly championed young people with cancer and helped raise millions through our flagship Royal Albert Hall gigs; Stephen Sutton MBE, who made a huge impact as an ambassador and fundraiser before his death in 2014 aged 19; and Nurse Consultant Sue Morgan MBE, who was instrumental in setting up the now beloved Find Your Sense of Tumour conference.

Full list of Founders’ Awards winners:

Derwent London (Simon Silver and Paul Williams) Roger Daltrey CBE The Who Sarah, Duchess of York Simon Davies SJM (Rob Ballantine, Chris York and Simon Moran) Stephen Sutton MBE Sue Morgan MBE Professor Tim Eden Trinifold Management (Bill Curbishley and Robert Rosenberg)

Teenage Cancer Trust 2020 Awards

ALTOGETHER UNSTOPPABLE

At another virtual event in December, we welcomed over 100 guests (representing 33 of our partners) to our first ever ‘Altogether Unstoppable’ awards, to recognise the phenomenal contribution our corporate partners have made to Teenage Cancer Trust, and celebrate outstanding achievements from the past two years.

Full list of Altogether Unstoppable winners:

Domino’s Pizza Group Pam McCulloch, Plumbing and Heating Aldi’s Rainbow products New Look Steptember Challenge Morgan Stanley London to Paris team Dobbies Garden Centre Aldi Neston Region Tangle Teezer MandM Direct Dr.PAWPAW

Sarah, Duchess of York at the opening of our Bristol unit in 2014

Our founders Adrian and Myrna Whiteson in the early years of the charity

A huge thank you to all our award winners and nominees – and to every single person who’s played a part in helping us achieve so much for young people with cancer in the last 30 years.

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REVIEW

In some cases, this meant that new employees working their notice periods in their previous roles stayed with their employer so that they could take advantage of the government’s job retention scheme. We eventually began recruiting again in November.

The consolidated statement of financial activities set out on page 50 shows the financial results for Teenage Cancer Trust and its trading subsidiary.

By the first weekend in April the Board had signed off an emergency coronavirus budget which reflected these decisions as well as the financial impact of putting 60% of staff on the Coronavirus Job Retention Scheme with immediate effect. Many staff stayed on furlough as its provisions were extended, only returning as additional capacity was required as activities began to resume.

The coronavirus pandemic struck early in our financial year, before we had started to invest in our expansion plans.

By the end of February there had been no further rollout of either the outreach nursing and support service or of the Integrated Assessment Mapping tool, which were the two main areas of additional investment planned for 2020.

The Board also took the very difficult decision to ask working staff to work on reduced hours for reduced pay throughout May and June. The Board remain indebted to staff for what was achieved across the charity during the year, but in particular during this time when pressures were exceptionally great.

As the pandemic took hold during March, and we headed for national lockdown, the Trustees took swift and decisive action to stop all discretionary spend and preserve cash wherever possible.

We were in the process of recruiting new roles to support the ambitious fundraising strategy, but all new recruitment was halted in March.

Financial budget and
results in summary:		 Original
budget 2020		 Emergency
coronavirus
budget 2020		 Actual
results 2020		 Actual
results 2019
Income £18.5m £10.2m £15.6m £18.3m
Expenditure £23.3m £15.2m £15.0m £17.5m
Net surplus / deficit (£4.8m) (£5.0m) £665k £880k
Reserves at 31 December £10.1m £9.9m £15.5m £14.9m

As the table below shows, results for 2020 were remarkable under the circumstances – far better than we could have imagined back in April. The emergency coronavirus budget allowed for a deficit of £5m in the anticipation of a dramatic fall in income.

Actual results exceeded this by £5.6m, generating a surplus of £665,000 (2019: £880,000). This was achieved through a combination of income exceeding budget by £5.4m and expenditure falling short of budget by £0.3m. Income was down £2.7m on the previous year, and therefore these results were achieved by cutting back expenditure while protecting frontline services.

The principal reasons for the strong fundraising performance were:

Because of the priority to raise money to fund current services, instead of investing for the future, and the impact of a much-reduced headcount, the return on fundraising investment was higher than in recent years, so net income from fundraising was £9m.

Although the expenditure was stripped back in the emergency coronavirus budget, further savings were realised due to capital expenditure being delayed to 2021, autumn events being cancelled or held digitally and the extension of the furlough scheme, all of which provided further savings amounting to £2.2m.

RESERVES

In setting the emergency coronavirus budget, the Board agreed that reserves were not to fall below £10m, to give the charity the resources it would need to rebuild from the pandemic.

This level of reserves was within the agreed reserves policy, but despite the immediate pressures, we were reluctant to allow reserves to fall too far, in recognition that the road back from coronavirus would be long and complex. It would not just be a matter of building back to 2019 levels of activity, but a need to rethink ways of working, renew strategies and invest in new and ambitious ways of delivering services and raising money in a post-coronavirus world.

All of these would need a rapid and broad adoption of digital technologies and investment in data competencies to support this expansion.

In the event, the surplus for the year added to the already robust reserves position, leaving year end reserves of £15.5m. This is an extremely positive position to be in and gives the charity real choices and opportunities to build back stronger and develop a new ambitious strategy that retains the heart of the old service strategy with the best of the new digital ways of working.

For 2021 the Board have signed off a budget with a deficit of £3m, to allow investment in new and diverse fundraising streams to increase the sustainability of the portfolio, as well as digital solutions and data competencies so that the charity can become a robust, resilient and impactful charity, that will ensure the provision of the very best care for young people with cancer. This investment will see reserves fall to £12.5m by the end of the year if the budget is realised.

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FINANCIAL AND MANAGEMENT POLICIES

The Trustees are responsible for the governance of the charity’s strategic risks. These must all be understood and managed if the charity is to achieve long-term success.

Risk Management strategy
Service delivery – the risk that
we are unable to consistently
deliver frontline services		 ■Carry out a review of the existing funded staff workforce to ensure it delivers best
value in a post-coronavirus NHS when resources are stretched and there is greater
acceptance of the use of digital solutions
■Keep ongoing log of local coronavirus situation and take action as necessary if service
is unduly disrupted
■Establish a consistent offer to young people as part of the development of the
2022 strategy
■Maintain and develop strong and purposeful relationships with all NHS Trusts where
we fund staff
Impact – the risk that we are
unable to clearly demonstrate
the impact of our work,
limiting opportunities to attract
supporters, partners and
funders		 ■Development of theory of change which clearly and simply articulates the difference
we seek to make
■Development and implementation of impact framework directly linked to the theory
of change
■Investment in staff skilled in impact measurement
■Development of clear, purpose-driven goals
Financial sustainability – the risk
that each year we spend more
than we raise, gradually eroding
financial resilience		 ■Development of clear strategy aligned with the theory of change, which is clearly and
demonstrably focussed on meeting the needs of young people with cancer
■Development and delivery of a diversified and realistic fundraising strategy for steady
and sustainable growth
■Ability to clearly demonstrate the impact of our work
■Maximise use of technology and digital solutions
People and skills – the risk of not
having the right people, skills
and resources in place, adversely
affecting performance		 ■Develop a strategic workforce plan that includes a leadership and management
framework, a leadership development programme, a reward and retention strategy
and a competency framework
■Development of People and Culture sub-committee to bring Trustee scrutiny to
management of this risk
■Appoint Head of Culture, Talent and Development Lead and Diversity and
Inclusion Lead

Our work in Scotland

Teenage Cancer Trust is registered with the office of the Scottish Charity Regulator (OSCR) (registration number SC039757). In Scotland, we deliver specialist teenage and young adult cancer services in hospitals in Glasgow and Edinburgh as well as various regional hospitals across the country.

In 2020 Teenage Cancer Trust provided specialist cancer facilities and specialist staff at the Royal Hospital for Children and The Beatson West of Scotland Cancer Centre in Glasgow, and at the Royal Hospital for Sick Children and Western General Hospital in Edinburgh. Throughout the year there were continuing delays to the opening of the new Edinburgh Hospital for Children and Young People due to issues with the ventilation system. We’re delighted to report that the new hospital, including the newly built Teenage Cancer Trust unit, finally opened in March 2021.

Due to ongoing issues within the ventilation system at the Royal Hospital for Children Glasgow, our services have been operational within the neighbouring Queen Elizabeth University Hospital since September 2018. The schedule of works that will allow the reopening of Ward 2A & 2B is due for completion in May 2021, although this may be impacted by coronavirus restrictions.

The charity has three regional fundraisers working across Scotland. During 2020 these staff were placed on the government’s job retention scheme for several months to save costs while fundraising was severely restricted due to social distancing.

RESTRICTED FUNDS

Our policy is to spend restricted funds as soon as we can. We hold onto them until we can spend them according to our supporters’ wishes, and in the rare event that’s not possible, our Trustees contact the supporter to ask if their donation can be transferred to our unrestricted funds or if they would prefer it to be returned to them.

UNRESTRICTED FUNDS

During the year, the Trustees reviewed the reserves policy to ensure it was robust and effective and able to support the charity as it rebuilds after the coronavirus pandemic. There are many factors that need to be considered when agreeing the appropriate level of reserves, but in the end it is a matter of judgement. The risk factors that would indicate the need to maintain a significant level of reserves include:

For the full details of our risk policy and risk management framework see page 43 This is the end of the charity’s strategic report as required by the Companies Act.

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GOVERNANCE AND MANAGEMENT

Within this context, the Trustees have agreed that reserves are needed:

Based on this analysis, the Trustees agreed that the charity should hold reserves to cover the equivalent of at least six months of expenditure, but preferably between six and nine months’ worth of expenditure. Using current financial plans, this policy translates to ensuring that the charity has a minimum of £9m in reserves by the end of 2021, which equates to six months’ expenditure.

At 31 December 2020, reserves amounted to £15.5m. This is well within the parameters (six to nine months of expenditure) of the agreed reserves policy. However, the budget for 2021 has an excess of expenditure over income of £3m. If realised this will mean that reserves will fall to £12.5m by the end of the year. This equates to eight months of expenditure and remains within the agreed parameters.

During 2021 senior leadership and Trustees will develop and agree the strategy for 2022 and beyond. This will be supported by a detailed financial plan and reserves projections. In the context of this plan and the vision that it sets out, the Trustees will revisit the reserves policy again to ensure that they are happy that the plan does not erode the long-term financial viability of the charity.

Within this context, the Trustees will carefully consider any business cases that require further use of these reserves, weighing up the balance between each opportunity and the potential risk involved.

Due to the continued uncertainty in the markets and the banking sector, our investment policy remained unchanged in the year under review. Our policy stipulates that funds can only be held by banks with a high credit quality (A- or above as per Fitch Ratings scale) security rating.

To this end, all cash deposits were held at Royal Bank of Scotland and Barclays Bank, our chosen retail banks.

During 2021 the charity will investigate options for investing a portion of reserves in the stock market in order to drive a return from the assets that it holds.

Teenage Cancer Trust operates an equal opportunities recruitment policy. Our Remuneration Committee is responsible for overseeing the charity’s pay and reward structures and approving annual pay increases.

The long-term success and performance of Teenage Cancer Trust is directly linked to the talents, motivation and accomplishments of our employees, and we recognise the importance of developing our employees and building our capability as an organisation.

We do this by recruiting great people, by building high levels of relevant skills and knowledge through our learning and development programme, and by providing a stimulating and rewarding work environment.

The pension benefits offered by Teenage Cancer Trust consist of a defined contribution scheme into which Teenage Cancer Trust will contribute up to 5% of gross salary (dependent on employee contribution) to assist staff in reaching their target pension.

Governing document

Teenage Cancer Trust is a company limited by guarantee and governed by its Memorandum and Articles of Association, which were last modified on 28 July 2014. It is registered as a charity with the Charity Commission and the Office of the Scottish Charity Regulator.

OBJECTIVE

The objective of Teenage Cancer Trust is: ‘The relief of sickness in young persons with cancer and related diseases’.

PUBLIC BENEFIT

The principal beneficiaries of the work of Teenage Cancer Trust are the teenagers and young adults with cancer who are treated either on our specialist units within NHS hospitals or via our Nursing and Support Services. Secondary beneficiaries of the work of Teenage Cancer Trust are the families and friends of the young people with cancer. The Trustees have referred to the Charity Commission’s general guidance on public benefit when reviewing the aims and objectives and planning future activities. In particular, the Trustees consider how the planned activities will contribute to the aims and objectives they have set.

THE BOARD

The Board of Trustees is responsible for the strategic governance of the charity. In the year ending 31 December 2020, the number of Trustees serving on the Board was eight (2019: nine).

The Board of Trustees meets six times a year and is responsible for setting our overall strategy. At each meeting the Board receives written reports on all aspects of our work. The Board operates an equal opportunities recruitment policy and Trustees are required to have demonstrable experience in the areas identified by a skills audit.

New Trustees follow a similar induction process to that of all new staff. Although modified as a result of social distancing measures, all new Trustees spend time with senior members of staff and fellow Trustees, virtually visit a unit and meet funded staff. Trustees also undergo safeguarding training and generally gain an understanding of all aspects of our work. We provide ongoing training as needed, and Trustees are also required to gain a full understanding of the role’s legal obligations. Trustees are initially appointed for four years.

Following this initial term all Trustees can be reappointed for a further four years – up to a maximum of three consecutive terms – by a majority decision of the other Trustees. After three terms the Trustee must retire from office and will only be eligible for reappointment after a period of at least one year.

During the year the Trustees and Senior Leadership Team used the findings from an assessment of performance against the Charity Governance Code to implement changes and improve the impact and performance of the Board. In May 2021 the Board formally agreed to adopt the Charity Governance Code to guide and support the ongoing development of the charity’s governance practices.

All members of the Board became more involved in the work of the charity as a result of the pandemic. The newly formed sub-committees met often to address the emerging and changing situation and good decisions were made quickly and effectively.

At the end of the year, through an open recruitment round, we recruited two new Trustees with new sets of skills that were needed to ensure further diversity of skill and experience. Both Trustees will join the Board early in 2021.

In February 2020 David Hoare retired as Chair of the Board of Trustees after a tenure of ten years. The Board and staff would like to acknowledge the enormous contribution that David made to the work of the charity. He was replaced by Paul Spanswick, a Trustee for nine years. Paul acted as Deputy Chair of the charity since July 2019, following his return from a period living and working in Japan. Under Paul’s chairmanship the Board shifted quickly and efficiently to remote working and his first full Board meeting in April 2020 was focussed on the initial response to the outbreak of the pandemic and signing off the revised coronavirus budget.

The board keeps a register of interests for Trustees, which is available to the public upon request at hello@teenagecancertrust.org

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Strategic management

The Board delegates certain areas of governance to committees. These committees bring together Trustees with relevant professional experience, who then make recommendations to the Board. The committees active in 2020 were:

CHIEF EXECUTIVE

ADVISORY GROUPS

Along with our staff, funded staff and Trustees, we also have several advisory groups who input into many different projects and are fundamental in shaping our work. We want to thank everyone who has supported our work in this way over the last year. These groups include:

Youth Advisory Group

Our panel of young people with first-hand experience of cancer and our services are a part of every big decision we make, from recruitment to shaping our strategy. During 2020 we recruited our new panel of 26 young people to replace the original group. They will support the work of the charity for the next two years, with a range of opportunities to advise, inform and influence.

Our current Youth Advisory Group members are: Adam, Alice, Amber, Angel, Borys, Caitlin, Chloe, Chloe, Conor, Craig, Debora, Evanne, Fiza, Isaac, James, Jessica, Joanna, Kira, Lisa, Molly, Natalia, Tash, Niamh, Peter, Rachael, Tegan.

Corporate Board

Launched in September 2019, the Corporate Board is a group of 16 business leaders who have committed to support Teenage Cancer Trust through introductions to potential corporate partners, as well as strategic advice and expertise to ensure the team is as successful as possible.

Gary Adey (Chair) Jonathan Allan Gareth Barker

Simon Coble Fabian DePrey Steph Docherty Vimi Grewal-Carr Paul Lockstone Steve McCrystal David Noyes Shaun Pulfrey Phil Smith Fiona Spooner Mike Tomkins David Wheldon Mark Woods

Music Board

Our board of advisors and industry professionals who collaborate regularly with us on all our music and events.

Brian Rose Jeanette Lee Mike Smith Emma Greengrass Simon Esplen Terri Hall Cerne Canning Ben Bodie Sammy Andrews Ian Neil Nick Raphael

RISK AND SAFEGUARDING

The Risk and Safeguarding Committee comprises two Trustees. They meet four times a year with senior members of staff who represent relevant aspects of the charity’s work, including the Director of Finance and Corporate Operations (who is the executive lead on risk management) and the charity’s designated safeguarding lead.

Safeguarding

Risk

The Trustees have a formal risk management process in place to assess major risks. This process:

The Trustees have overall responsibility for ensuring we have proper safeguarding procedures and policies in place to ensure the safety and protection of the children and vulnerable adults we work with. They have due regard to the guidance issued by the Charity Commission and have all read the Department of Education’s guidance document, ‘Safeguarding for Trustees’.

We’ve implemented the following safeguarding policies and procedures:

Overall responsibility for ensuring this process is carried out effectively lies with the Board of Trustees. Risk management practices, including incident reporting, are embedded throughout all operations. They form an integral part of business decisions and underpin strategic thinking. Risk management is also the main driver for the development of the policy and procedures framework, which covers all areas of operations. All projects and events are risk assessed at the planning stage, and this plays a key role in determining whether the event or project should go ahead.

■ robust risk and safeguarding assessment practices, so that individual events are always managed in a way that protects young people, staff and volunteers.

Details of the most significant risks facing the charity and its subsidiary are detailed on page 38 together with the associated strategies for managing each risk. Each quarter, progress against the strategy is formally measured and reviewed, and the most significant risks to our strategic goals are identified and reported to the Trustees.

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STATEMENT OF TRUSTEES’

The Trustees are

responsible for preparing the Trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company and charity law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and parent charity and of the incoming resources and application of resources, including income and expenditure, for the year.

In preparing those financial statements the Trustees are required to:

The Trustees are responsible for keeping adequate and proper accounting records. These must be sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the group and parent charity. The Trustees should also ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended) and with the requirements of the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the group and parent charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Additionally, the Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of the financial statements and other information included in annual reports may differ from legislation in other jurisdictions.

Going concern

The charity’s financial position has been outlined on page 50 of this report. The Trustees have assessed projected income to the end of 2022 and related plans for expenditure and use of reserves.

They have considered the charity’s reserves position, strategic risks, the various income streams on which the charity relies, the liquidity of its assets and hence the charity’s ability to withstand a fall in income. Based on this information, the Trustees have concluded that Teenage Cancer Trust and its subsidiary The Teenage Trust (Trading) Limited have adequate resources to continue activities for the foreseeable future. Accordingly, they continue to adopt the going concern basis in the preparation of these accounts.

The impact of coronavirus is not yet fully known at the time of writing.

Auditors

BDO LLP was re-appointed as auditors in the year in accordance with the Companies Act 2006.

Related parties

None of the Trustees of the charity receives any remuneration or other benefit from their work with the charity.

Trustees’ awareness

statement

Each of the Trustees has confirmed that, so far as they are aware, there is no relevant audit information of which the charity’s auditors are unaware. They have also done everything they should have done, as a Trustee, to make themselves aware of any relevant audit information and to ensure the charity’s auditors are aware of it.

The Report of the Trustees (incorporating the Strategic Report) was approved by the Board of Trustees on 21 June 2021 and authorised to be signed on its behalf by:

Paul Spanswick Chair of the Board

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44

INDEPENDENT

AUDITOR’S REPORT

Opinion on the financial statements

In our opinion, the financial statements:

We have audited the financial statements of Teenage Cancer Trust (“the Parent Charitable Company”) and its subsidiary (“the Group”) for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Consolidated and Parent Charitable Company balance sheets, the Consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

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 Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Group and the Parent Charitable Company in accordance with the ethical requirements 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 related 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.

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 and the 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 Annual Report, other than the financial statements and our auditor’s report thereon. The other information comprises: the Chair and Chief Executive’s Statement and the Report of the Trustees (including the Strategic Report).

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Other Companies Act 2006 reporting

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

In the light of the knowledge and understanding of the Group and the Parent Charitable Company and its environment obtained in the course of the audit, we have not identified material misstatement in the Strategic report or the Trustee’s report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities and Trustee Investment (Scotland) Act 2005 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Trustees’ responsibilities statement, 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 Parent 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 the Parent Charitable Company or to cease operations, or have no realistic alternative but to do so.

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46

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

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 an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in 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.

Extent to which the audit was capable of detecting irregularities, including fraud

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:

and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located at the Financial Reporting Council’s (“FRC’s”) website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the Charitable Company’s 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 the Charities and Trustee Investment (Scotland) Act 2005. Our audit work has been undertaken so that we might state to the Charitable Company’s members and trustees those matters we are required to state to them in an auditor’s 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, the Charitable Company’s members as a body and the Charitable Company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Fiona Condron (Senior Statutory Auditor) For and on behalf of BDO LLP, Statutory Auditor Gatwick, UK

Date 24 June 2021

BDO LLP is a limited liability partnership registered in England and Wales (with registered number OC305127).

Audit response to risks identified

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that 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, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws

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48

ACCOUNTS

REPORT AND ACCOUNTS

31 DECEMBER 2020

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an income and expenditure account) For the year ended 31 December 2020

Unrestricted Restricted Unrestricted Restricted
Note funds funds Total funds funds funds Total funds
2020 2020 2020 2019 2019 2019
£000s £000s £000s £000s £000s £000s
INCOME
Donations and legacies 11,754 2,032 13,786 12,885 1,795 14,680
Trading activities 679 - 679 3,595 - 3,595
Income from Coronavirus Job Retention
Scheme 1,130 - 1,130 - - -
Interest earned on cash deposits 31 2 33 63 11 74
TOTAL INCOME 13,594 2,034 15,628 16,543 1,806 18,349
EXPENDITURE
Cost of raising funds
Fundraising activities 5,058 - 5,058 5,026 - 5,026
Trading activities 361 - 361 2,158 - 2,158
Total cost of raising funds 4 5,419 - 5,419 7,184 - 7,184
Expenditure on charitable activities
Before diagnosis 4 2,476 - 2,476 2,040 20 2,060
During treatment 4 2,333 2,071 4,404 4,479 994 5,473
After treatment 4 1,113 63 1,176 578 461 1,039
Underpinning our services 4 1,453 35 1,488 1,711 - 1,711
TOTAL EXPENDITURE 12,794 2,169 14,963 15,992 1,475 17,467
Net income/(expenditure) before other
recognised gains and losses 6 800 (135) 665 551 331 882
Net movement in funds 800 (135) 665 551 331 882
Total funds brought forward 13,893 982 14,875 13,342 651 13,993
Total funds carried forward 14,693 847 15,540 13,893 982 14,875

All activities arise from continuing operations.

All gains and losses are included above.

For the purposes of the Companies Act, net income of £665k (2019: £882k) is total income of £15,628k (2019: £18,349k) less gifts in kind of £779k (2019: £508k) minus total expenditure of £14,963k (2019: £17,467k) less gifts in kind of £779k (2019: £508k).

REPORT AND ACCOUNTS 31 DECEMBER 2020

CONSOLIDATED AND CHARITY BALANCE SHEETS (Company Number: 3350311)

As at 31 December 2020

As at 31 December 2020
Note Group Group
Charity
Charity
2020 2019
2020
2019
£000s £000s
£000s
£000s
Fixed assets
Tangible fixed assets 8 - 14
-
14
Current assets
Stock 8 13
-
-
Debtors 10 1,934 1,895
2,526
3,036
Cash held in deposit accounts 1,043 4,038
1,043
4,038
Cash at bank and in hand 15,464 10,907
14,806
9,669
Creditors: amounts falling due within one 18,449 16,853
18,375
16,743
year 11 (2,909) (1,992)
(2,838)
(1,884)
Net current assets 15,540 14,861
15,537
14,859
Total net assets 15,540 14,875
15,537
14,873
Represented by:
Funds and reserves
Restricted funds 847 982
847
982
Unrestricted funds
General fund 14,693 13,893
14,690
13,891
Total funds 15 15,540 14,875
15,537
14,873

Teenage Cancer Trust has taken advantage of the exemption afforded by section 408 of the Companies Act 2006 not to provide a separate Statement of Financial Activities for the charity. The results for the charity for the year were:

Total income £15,267k (2019: £16,191k); Total expenditure £14,602k (2019: £15,309k); and Overall surplus of £665k (2019: £882k).

21 June 2021

The financial statements were approved and authorised for issue by the Board of Trustees on ……………..……………………..2021

……………………………………………. Chair of the Trustees Paul Spanswick

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50

REPORT AND ACCOUNTS 31 DECEMBER 2020

NOTES TO THE ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENT For the period ended 31 December 2020

1 ACCOUNTING POLICIES

REPORT AND ACCOUNTS 31 DECEMBER 2020

CONSOLIDATED STATEMENT OF CASH FLOWS

For the year ended 31 December 2020

For the year ended 31 December 2020
Note 2020 2019
£000s £000s
Cash flows from operating activities
Surplus for the financial period 665 882
Investment income and bank interest (33) (74)
Depreciation 8 14 30
Decrease in stock 5 2
Increase in debtors 10 (39) (656)
Increase/(decrease) in creditors 11 917 (692)
Net cash generated by/(used in) operating activities 1,529 (508)
Cash flows from investing activities
Interest received and investment income 33 74
Net cash provided by investing activities 33 74
Net increase/ (decrease) in cash and cash equivalents 1,562 (434)
Cash and cash equivalents at beginning of period 14,945 15,379
Cash and cash equivalents at end of period 16,507 14,945
Cash and cash equivalents comprise:
Cash held in deposit accounts 1,043 4,038
Cash at bank and in hand 15,464 10,907
16,507 14,945

The principal accounting policies adopted in the preparation of the financial statements are summarised below and have been consistently applied throughout the year and to the preceding period.

a) BASIS OF PREPARATION The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2019), for 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 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Companies Act 2006, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Charities and Trustee Investment (Scotland) Act 2005.

The charity meets the definition of a public benefit entity as defined by FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

b) GOING CONCERN

In the recovery phase from the pandemic the Trustees will continue to scrutinise financial plans supporting the emerging strategic planning for 2022 and beyond. The charity has maintained a strong reserves base, which was not eroded in 2020 as sufficient savings were made to offset any reduction of income caused by the pandemic and related social distancing measures. Liquidity also remains strong as reserves are held in cash balances.

The Trustees have approved a budget for 2021 which shows a deficit of £3m, which would reduce reserves to £12.5m by the end of the year. This is a worst-case scenario and still maintains reserves within the parameters of the agreed reserves policy.

During the year Trustees will closely monitor progress against the plan and review monthly forecasts so that any concerns can be identified in good time.

Given these measures, management’s forecasts for the next twelve months, and the liquidity of cash, the Trustees consider it appropriate for the financial statements to be prepared on a going concern basis and have not identified any material uncertainties relating to this.

c) PARENT COMPANY DISCLOSURE EXEMPTIONS

In preparing the separate financial statements of the parent company, advantage has been taken of the following disclosure exemptions available in FRS 102:

d) SCOPE OF CONSOLIDATED ACCOUNTS

The group financial statements consolidate the accounts of the charity and its subsidiary undertaking, The Teenage Trust (Trading) Limited. The transactions, assets and liabilities of this company have been consolidated with those of Teenage Cancer Trust as they are ultimately controlled by the Trustees of the charity.

e) INCOME

Fundraising activities

Income is recognised in the period in which Teenage Cancer Trust is entitled to receipt of that income and when the amount can be measured with reasonable accuracy.

Legacy income is recognised when entitlement to the legacy exists - this is when the executors have informed the charity that a payment which can be measured reliably may be made following the agreement of the estate's accounts. A discount is applied where there is any uncertainty of a property sale achieving its expected sale price.

Gift Aid is accounted for as income in the same period as the donation to which it relates.

Gifts in kind

Gifts in kind over £10,000 are recognised as both income and expenditure and are included in the statement of financial activities at its fair market value that would have been charged if purchased from the donor.

Income from trading activities

Income from fundraising events received in advance is recognised at the time of the event. Other fundraising income is recognised when it falls due.

Investment income

Investment income comprises interest receivable and is recognised on an accruals basis. Interest is receivable from short-term, fixed rate deposits.

Volunteers

Teenage Cancer Trust benefits greatly from the involvement and enthusiastic support of its many volunteers. In accordance with FRS 102 and the Charities SORP, the economic contribution of general volunteers is not recognised in the accounts.

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REPORT AND ACCOUNTS 31 DECEMBER 2020

31 DECEMBER 2020

REPORT AND ACCOUNTS

f) EXPENDITURE

Expenditure is accounted for on an accruals basis and is classified in the following categories:

Cost of raising funds includes expenditure incurred on fundraising activities.

Charitable activities include expenditure directly relating to the delivery of the services (including staff costs) provided by the charity. Grants to fund hospital units or other projects are recognised in the accounts at the date of commitment once approved by the Trustees and communicated to the recipient.

Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, technology, personnel, payroll and governance costs which support the charity's activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities based on staff time spent on each area of work.

Governance costs represent the costs of governance arrangements including setting the strategic directions of the charity. Governance costs also include external audit, legal advice for Trustees and costs associated with constitutional and statutory requirements.

g) TANGIBLE FIXED ASSETS AND DEPRECIATION

All assets costing more than £1,000 and with an expected useful life exceeding one year are capitalised.

Depreciation is calculated to write off the cost less estimated residual value of all tangible fixed assets by equal instalments over their expected useful lives.

The rates generally applicable are:

 Finance system development 25% on cost

h) LEASED ASSETS

Payments in respect of operating leases are charged to the statement of financial activities on a straight line basis over the lease term.

i) STOCK

Stock is stated at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.

j) DEBTORS Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid, net of any discounts due.

k) INVESTMENTS

Investments comprise of shares in the Trading subsidiary (note 9).

l) CREDITORS AND PROVISIONS

Creditors and 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. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

m) FINANCIAL INSTRUMENTS

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.

n) PENSION COSTS

Contributions to employees' personal pension plans are charged to the statement of financial activities in the year in which they become payable. These costs have been allocated between cost of raising funds and expenditure on charitable activities based on staff time spent on each area of work in line with the underlying salary.

o) TERMINATION PAYMENTS

Termination payments are recognised as an expense in the statement of financial activities immediately.

p) FUND ACCOUNTING

The general fund comprises those monies which may be used towards meeting the charitable objectives of the charity at the discretion of the Trustees.

Designated funds are monies set aside out of the general fund and designated for specific projects.

Restricted funds are monies raised for, and their use restricted to, a specific purpose, or donations subject to donor imposed conditions.

q) SIGNIFICANT MANAGEMENT JUDGEMENTS AND KEY SOURCES OF ESTIMATION AND UNCERTAINTY

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.

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 and in any future periods affected.

However, management do not consider there to be any material judgements or estimation and uncertainty requiring disclosure other than judgement in relation to Going Concern, which is discussed at Note 1b.

NOTES TO THE ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENT For the year ended 31 December 2020

2 NET INCOME OF TRADING SUBSIDIARY

The charity has one wholly owned trading subsidiary, The Teenage Trust (Trading) Limited, which is incorporated in the United Kingdom and which organises and holds fundraising events in support of Teenage Cancer Trust. The subsidiary company passes its taxable surplus to Teenage Cancer Trust under Gift Aid.

taxable surplus to Teenage Cancer Trust under Gift Aid. taxable surplus to Teenage Cancer Trust under Gift Aid.
A summary of the subsidiary company's trading results for the period is given below. A summary of the subsidiary company's trading results for the period is given below. 2020
2019
Income £000s
£000s
679
3,595
Expenditure (361)
(2,158)
Surplus 318
1,437
Amount paid under Gift Aid to Teenage Cancer Trust (318)
(1,437)
Retained surplus for the period -
-
GIFTS IN KIND 2020
2019
Production/Editing/ Consultancy for Unseen £000s
£000s
307
-
General Free Marketing 449
-
Free marketing for Royal Albert Hall shows -
146
Production of Royal Albert Hall shows -
247
Free marketing for Memories That Matter -
12
Shopping vouchers 23
17
Mental health subscription -
36
Challenge tops & vests -
50
779
508
ANALYSIS OF EXPENDITURE Support &
Cost of raising funds Direct
Grants
Direct staff
governance
costs
payable
costs
costs
£000s
£000s
£000s
£000s		 Total
Total
2020
2019
£000s
£000s
Fundraising activities 1,028
-
3,123
907		 5,058
5,026
Trading activities 361
-
-
-		 361
2,158
1,389
-
3,123
907		 5,419
7,184
Direct charitable expenditure
Before diagnosis
- Raising awareness 512
-
1,541
423		 2,476
2,060
512
-
1,541
423		 2,476
2,060
During treatment
- Building, running and maintaining new and
existing units 620
-
464
109		 1,193
4,683
- Funding and development of NHS nursing
and support staff 2,945
-
30
6		 2,981
386
- Direct support to young people during
treatment 39
-
145
46		 230
404
3,604
-
639
161		 4,404
5,473
After treatment
- Support (events) for young people after
treatment 192
-
769
215		 1,176
1,039
192
-
769
215		 1,176
1,039
Underpinning our services
- Policy 128
-
464
114		 706
665
- Quality, impact and safeguarding 0
-
211
48		 259
414
- Professional training and development
- Research, management and development of		 125
-
97
25		 247
334
the specialism 106
-
143
27		 276
298
359
-
915
214		 1,488
1,711
Total charitable expenditure 4,667
-
3,864
1,013		 9,544
10,283
TOTAL EXPENDITURE IN THE YEAR TO 31
DECEMBER 2020 6,056
-
6,987
1,920		 14,963
17,467
Total expenditure in the year to 31
December 2019 7,998
191
7,300
1,978		 17,467

3 GIFTS IN KIND

4 ANALYSIS OF EXPENDITURE

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REPORT AND ACCOUNTS

REPORT AND ACCOUNTS 31 DECEMBER 2020

31 DECEMBER 2020

NOTES TO THE ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENT For the year ended 31 December 2020

NOTES TO THE ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENT For the year ended 31 December 2020

7 STAFF COSTS contd

----- Start of picture text -----
||||| |---|---|---|---| |5|SUPPORT & GOVERNANCE COSTS|2020|2019| |£000s|£000s| |Office costs|628|671| |Finance and professional fees|61|72| |Information technology|496|383| |Human Resource costs including recruitment, training and welfare|124|191| |Marketing|67|71| |Other costs|17|36| |Governance costs|527|572| |1,920|1,996| |ANALYSIS OF GOVERNANCE COSTS|2020|2019| |£000s|£000s| |Audit|30|30| |Other direct costs|80|95| |Staff costs (See note 7)|359|388| |Support costs|58|59| |Total for the charity|527|572|

----- End of picture text -----

Governance costs are reflected in both staff costs and support costs in Note 4 - costs are allocated to each activity based on the amount of time staff spend working in each area.

6 NET INCOME

----- Start of picture text -----
|||| |---|---|---| |This is stated after charging:|2020|2019| |£000s|£000s| |Staff costs|7,106|7,222| |Auditors' remuneration - audit|30|30| |Auditors' remuneration - tax and other|3|3| |Operating lease rentals|470|472| |Depreciation|14|30| |STAFF COSTS| |2020|2019| |Staff costs including non payroll costs during the period were as follows:|£000s|£000s| |Salaries and wages|6,052|6,107| |Social security costs|618|642| |Other pension costs & benefits|436|473| |7,106|7,222| |Temp and non payroll costs|240|466| |7,346|7,688| |Staff costs allocated to Governance (See note 5)|(359)|(388)| |Direct staff cost (See note 4)|6,987|7,300|

----- End of picture text -----

7 STAFF COSTS

During the year to 31 December 2020 the charity incurred termination payments amounting to £257k (2019: £193k). This amount is made up of payment in lieu of notice £125k, holiday pay £27k and termination payments of £105k which were recognised in the accounts period that the final salaries were paid.

The number of employees at 31 December 2020 was 137 (2019: 165) made up of 124 full time staff (2019: 148) and 13 part-time staff (2019: 17).

In the year to 31 December 2020, the average full time equivalent number of staff was 152 (2019: 164).

----- Start of picture text -----
|||| |---|---|---| |Staff numbers per function were as follows:|2020|2019| |Number|Number| |Fundraising|72|70| |Charitable activities - before diagnosis|33|32| |Charitable activities - during treatment|13|25| |Charitable activities - after treatment|17|13| |Charitable activities - underpinning services|17|24| |152|164|

----- End of picture text -----

----- Start of picture text -----
|||| |---|---|---| |During the year, the number of employees with remuneration within the following salary brackets|2020|2019| |(including taxable benefits, but excluding employer pension contributions), was as follows:|Number|Number| |£60,000-£69,999|4|1| |£70,000-£79,999|2|3| |£80,000-£89,999|1|2| |£110,000-119,999|1|1|

----- End of picture text -----

Pension contributions paid to higher paid employees in the year amounted to £71k (2019: £69k).

Remuneration paid to key management personnel

Key management personnel comprises of the Chief Executive and Senior Management Team of six directors (2019: five directors). The total remuneration, including employer's national insurance contributions and pension contributions, paid to the Key Management Personnel in the year was £664k (2019: £570k).

The Chief Executive's salary, excluding pension contributions is 3.01 times the average salary.

----- Start of picture text -----
|||||| |---|---|---|---|---| |8|TANGIBLE FIXED ASSETS|Computer and| |office|Website|Finance system| |equipment|development|development|Total| |£000s|£000s|£000s|£000s| |Charity and group| |Cost at 1 January 2020|91|196|115|402| |Depreciation| |At 1 January 2020|91|196|101|388| |Charge in the period|-|-|14|14| |At 31 December 2020|91|196|115|402| |Net book value at 31 December 2020|-|-|-|-| |Net book value at 31 December 2019|-|-|14|14| |9|INVESTMENTS| |Charity|Shares in group| |undertakings| |£| |Cost or valuation| |At 1 January 2020|2| |At 31 December 2020|2| |Market value at 31 December 2020|2| |Market value at 31 December 2019|2|

----- End of picture text -----

The charity's investment in its subsidiary company represents the cost of the called up ordinary share capital of the Teenage Trust (Trading) Limited, a company registered in England and Wales. The principal activity of the company during the period was the organisation and holding of fundraising events to raise monies for Teenage Cancer Trust.

At 31 December 2020 the aggregate of the share capital and reserves of The Teenage Trust (Trading) Limited amounted to £2,591 (2019: £2,591) and the retained surplus for the year ended 31 December 2020 was £nil (2019: £nil).

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REPORT AND ACCOUNTS 31 DECEMBER 2020

REPORT AND ACCOUNTS

31 DECEMBER 2020

NOTES TO THE ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENT For the year ended 31 December 2020

**10 ** DEBTORS
Trade debtors
Amount owed by subsidiary company
Taxation recoverable
Prepayments and other debtors		 Group
2020
£000s
29
-
-
1,905		 Group
Charity
Charity
2019
2020
2019
£000s
£000s
£000s
167
6
9
-
1,202
1,721
2
-
2
1,726
1,318
1,304
1,934 1,895
2,526
3,036
**11 ** CREDITORS AMOUNTS FALLING DUE WITHIN
ONE YEAR
Trade creditors
Social security costs and other taxes
Grants payable (see note 13)
Other creditors
Accruals and deferred income		 Group
2020
£000s
755
192
73
81
1,808		 Group
Charity
Charity
2019
2020
2019
£000s
£000s
£000s
414
755
386
175
165
157
367
73
367
66
71
66
970
1,774
908
2,909 1,992
2,838
1,884
**12 ** DEFERRED INCOME
Balance as at 1 January 2020
Amount released to income earned from charitable
activities
Amount deferred in the year		 Group
2020
£000s
154
(46)
366		 Group
Charity
Charity
2019
2020
2019
£000s
£000s
£000s
167
138
132
(167)
(33)
(132)
154
355
138
Balance as at 31 December 2020 474 154
460
138

Deferred income comprises income received in respect of events taking place after 31 December 2020.

13 GRANT COMMITMENTS

As at 31 December 2020 the charity had entered into the following funding commitments:

Charity and Group
As at 1 January 2020
New in the year
Payments in the year		 2020
2019
£000s
£000s
367
541
-
191
(294)
(365)
As at 31 December 2020 73
367
Disclosed as:
Falling due within one year		 73
367
University College London Hospitals
Sheffield Royal Hallamshire Hospital
Altnagelvin Area Hospital
Aberdeen Royal Infirmary
Bristol Haematology and Oncology Centre
Birmingham Queen Elizabeth Hospital
Sheffield Weston Park Hospital
Other (under £10k per institution)
Analysis of commitments charged in the year:		 -
86
-
48
-
13
-
12
-
11
-
3
-
2
-
16
-
191

NOTES TO THE ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENT For the year ended 31 December 2020

14 ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS
General Restricted Total
funds 2020
As at 31 December 2020 £000s £000s £000s
Funds are represented by:
Current assets 17,602 847 18,449
Creditors: amounts falling due within one year (2,909) - (2,909)
Total net assets 14,693 847 15,540
As at 31 December 2019
Funds are represented by:
Tangible fixed assets
Current assets
Creditors: amounts falling due within one year		 General
£000s
14
15,871
(1,992)		 Restricted
funds
£000s
-
982
-		 Total
2019
£000s
14
16,853
(1,992)
Total net assets 13,893 982 14,875

15 FUND MOVEMENTS

FUND MOVEMENTS
Current year As at 1
January 2020
Income
Expenditure
As at 31
December
2020
£000s
£000s
£000s
£000s
General fund 13,893
13,594
(12,794)
14,693
Total consolidated unrestricted funds 13,893
13,594
(12,794)
14,693
Restricted funds
Morgan Stanley supporting front line services in London
and South East 529
211
(300)
440
Non disclosed donor supporting front line services in
Southampton and the Channel Islands 139
-
(82)
57
Children with Cancer UK supporting front line services
nationally through early stages of the pandemic -
1,001
(1,001)
-
YSC Activities in North West -
103
(70)
33
Outreach Nursing in Wales -
101
-
101
Funds with income and expenditure less than £100k 314
618
(716)
216
Total consolidated restricted funds 982
2,034
(2,169)
847
Total funds 14,875
15,628
(14,963)
15,540

Restricted funds come from various donors and are allocated to the unit, area of our work or region in which the donor has requested they are spent. Restricted funds are expended at the earliest possible opportunity. 90% of the restricted funds at the year end are expected to be expended within the following year.

59

58

REPORT AND ACCOUNTS

31 DECEMBER 2020

NOTES TO THE ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENT

LEGAL AND ADMINISTRATIVE DETAILS

For the year ended 31 December 2020

For the year ended 31 December 2020
FUND MOVEMENTS contd As at 1
January 2019		 Income
Expenditure		 As at 31
December
2019
Previous year £000s £000s
£000s		 £000s
General fund
Total consolidated unrestricted funds		 13,342
13,342		 16,543
(15,992)
16,543
(15,992)		 13,893
13,893
Restricted funds
Non disclosed donor supporting front line services in
Southampton and the Channel Islands 189 1
(51)		 139
Southampton General Hospital 113 28
(85)		 56
Queens Trust supporting peer support activities after
treatment 101 167
(268)		 -
Daisy Chain supporting services in the West and the
Midlands - 115
(115)		 -
Morgan Stanley supporting front line services in London
and South East - 529
-		 529
Peer Power Programme - 141
(141)		 -
Funds with income and expenditure less than £100k 248 825
(815)		 258
Total consolidated restricted funds 651 1,806
(1,475)		 982
Total funds 13,993 18,349
(17,467)		 14,875

15 FUND MOVEMENTS contd

Teenage Cancer Trust

Company registration number: 3350311; Charity registration number: 1062559; Scottish Charity registration number: SC039757.

Registered Office: 3rd Floor, 93 Newman Street, London, W1T 3EZ

Constitution

Teenage Cancer Trust, ‘the charity’, is constituted as a company limited by guarantee and is registered for charitable purposes with the Charity Commission and the Office of the Scottish Charity Regulator (OSCR). The charity’s governing document is the Memorandum and Articles of Association.

Chair of Trustees

David Hoare (until 5 February 2020) Paul Spanswick (from 6 February 2020)

Board of Trustees

16 OPERATING LEASE COMMITMENTS

At 31 December 2020, the charity and group had the following total future minimum lease payment commitments under noncancellable operating leases:

Operating lease payments due: 2020
2020
2019
2019
Land and
Land and
buildings
Other
buildings
Other
£000s
£000s
£000s
£000s
Within less than one year 511
4
511
4
Within one to two years 511
1
511
4
Within two to five years 375
-
886
1

Ronald Harris Caren Hindmarsh Andrew Hughes Sue Morgan (appointed 4 May 2021) Richard Rosenberg Jeremy Seigal Varda Shine Jeremy Shute Richard Waterworth (appointed 11 February 2021)

17 LIABILITY OF MEMBERS

The charity is constituted as a company limited by guarantee. In the event of the charity being wound up members, being the number of Trustees at the time, are required to contribute an amount not exceeding £1.

18 TAXATION

Teenage Cancer Trust is a charity within the meaning of Para 1 Schedule 6 Finance Act 2010. Accordingly the company is potentially exempt from taxation in respect of income or capital gains within categories covered by Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

The subsidiary company makes qualifying donations of all taxable profit to The Teenage Cancer Trust. No corporation tax liability on the subsidiary arises in the accounts.

No tax charge arose in the period (2019: £nil).

19 RELATED PARTY TRANSACTIONS

Chief Executive

Kate Collins

Senior Leadership Team

Director of Marketing & Communications Interim Director of Services & Impact (appointed 16 November 2020) Director of Finance & Corporate Operations Director of Fundraising (appointed 3 August 2020) Director of Services (until 22 November 2020), Chief Nurse (from 23 November 2020) Director of Fundraising (until 23 July 2020) Director of People & Culture

Paul Brown David Crosby Jill Long Paul McKenzie Louise Soanes

Liz Tait Karen Turnbull

No Trustee received any remuneration for their services during the period (2019: £nil).

No Trustee expenses were reimbursed during the period (2019: £nil).

No Trustee or any party connected with a trustee had any beneficial interest in any contract with the charity or its subsidiary during the period.

During the period, The Teenage Trust (Trading) Limited transferred its taxable profit of £318k (2019: £1,437k) to the charity under Gift Aid and paid the charity a management charge of £175k (2019: £477k). There were no other transactions between the parent company and the subsidiary. Further, The Teenage Trust (Trading) Limited received £1,130k in respect of payments under the Coronavirus Job Retention Scheme on behalf of the charity. These are included in the intercompany balance.

As at 31 December 2020, The Teenage Trust (Trading) Limited owed the charity £1,202k (2019: £1,721k) (note 10).

Bankers

Barclays Bank plc, 21 Hanover Square, London W1S 1JW

The Royal Bank of Scotland plc, Commercial Banking, Charing Cross Commercial Centre, 3rd Floor, Cavell House, 2a Charing Cross Road, London WC2H 0NN

Auditors

BDO LLP, 2 City Place, Beehive Ring Road, Gatwick, West Sussex, RH6 0PA

Solicitors

IBB Solicitors, Capital Court, 30 Windsor Street, Uxbridge, UB8 1AB

61

60

www.teenagecancertrust.org

Teenage Cancer Trust is a registered charity: 1062559 (England & Wales), SC039757 (Scotland)