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2024-02-29-accounts

The Challenge Fund Charity number: 1079181

Report and Financial Statements

for the year ended

29th February 2024

Wenn Townsend Chartered Accountants

Oxford

The Challenge Fund

Contents

Page
Legal and Administrative Information 1
Report of the Trustees 2 - 6
Independent Examiner’s Report to the Trustees 7
Statement of Financial Activities 8
Balance Sheet 9
Notes forming part of the Financial Statements 10 -14

The Challenge Fund

Legal and Administrative Information

Charity name: The Challenge Fund – The Fight Against Cancer
in the Emerging World
Charity working name: The Challenge Fund
Registered charity number: 1079181
Trustees: Prof. Sir Walter Bodmer (Chair)
Mr Geoffrey Niblett
Dr. Max Parkin
Dr. Anna Rohatiner
Dr. Anne Makena (joined June 2023)
Mr Mark Lodge (joined June 2023)
Executive director: Ms Patricia Newland (resigned in March 2023)
Administrator: Mrs Biying Liu
Principal office: Prama House
267 Banbury Road
Oxford
OX2 7HT
Independent examiner: Mr Andrew Rodzynski FCA
Wenn Townsend – Chartered Accountants
30 St Giles
Oxford
OX1 3LE
Bankers: Royal Bank of Scotland
Child & Co Bankers
1 Fleet Street
London
EC4Y 1BD
(closed on 13 July 2023)
HSBC Private Bank (UK) Limited
8 Canada Square
London
E14 5HQ

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The Challenge Fund

Report of the Trustees for the year ended 29th February 2024

The Trustees present their annual report and financial statements of the charity for the year ended 29th February 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 1993 and the Statement of Recommended Practice: Accounting and Reporting by Charities published in 2005.

Structure, governance and management

The Challenge Fund is a registered charity in England and Wales, charity number 1079181.

The Challenge Fund was established by the European School of Oncology (ESO) in 2000 for the purpose of raising funds to support programmes that help fight cancers in developing countries. The management was transferred to the UK office of the International Network for Cancer Treatment and Research (INCTR) in 2007. INCTR was an international, not-for-profit, non-governmental organization in Official Relations with the World Health Organisation and dedicated to helping build capacity for cancer research and treatment in developing countries. INCTR officially ceased to exist as a charity registered in Belgium in 2023.

On appointment, new Trustees sign a model Trustee Declaration Statement committing them to giving their time and expertise. The induction process has been changed to follow the ICSA good practice guide with a formal induction programme for any newly- appointed Trustee, which includes an initial meeting with the Chair and the Trustees, followed by a series of short meetings with the Director on fundraising, promotion and responsibilities of the Trustee board. The welcome pack includes a brief history of the Charity, a copy of the membership list of the Board of Trustees, a copy of the most recent annual report and accounts, a copy of the governing trust deed and a copy of the Charity Commission’s guidance ‘The Essential Trustee: What You Need to Know’ and Charities and Public Benefit’. The Trustees, director and administrator give their time freely and no remuneration was paid in the year.

The Charity treats Data Protection matters seriously. Following the call for the General Data Protection Regulation (EU) 2016/679 in early 2018, The Challenge Fund registered itself voluntarily with the Office of the Information Commissioner under registration number A8405014 , with the Data Controller being Ms Biying Liu (Administrator). A Privacy Policy document and a Consent Form were developed and are available on the charity website.

Objectives and activities for the public benefit

The Challenge Fund currently supports projects approved by the Board of Trustees of the charity that improve the healthcare delivered to cancer patients in low- and middle-income countries and help reduce their suffering by:

Policy of accepting projects of the charity

The Charity has established its grant-making policy to achieve its objects for the public benefit to improve the lives of sufferers with cancers who live in Low- and Middle-Income Countries (LMIC). The beneficiaries of

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The Challenge Fund

Report of the Trustees for the year ended 29th February 2024

our grant-making programme are cancer patients and front-line health workers in countries where the projects (listed below) are being carried out.

Cancer is a leading cause of death worldwide accounting for the deaths of nearly 10 million people in 2020[1] ; approximately 70% of which occur in low- and middle- income countries. Globally, cancer is killing more people in low- and middle-income countries than HIV/AIDS, Malaria and Tuberculosis combined, at an average rate of ten deaths a minute.

Over 19 million new cases of cancer were diagnosed in 2020; the number of new cancer cases is expected to increase more than 76% in low- and mid- income countries by 2040. 80% of patients with cancer in low- and middle-income countries are only diagnosed when their cancers are too advanced for curative treatment. In many of these countries there is little or no access to effective pain relief. As a result, cancer patients and their families have to endure terrible suffering.

The need to carefully plan cancer services in Africa is well recognised, in view of the limited resources available to combat the rising tide of non-communicable diseases, and especially cancer. Rational planning must be based on accurate information on the size and nature of the problem to be addressed, and, especially in Africa, population-based cancer registries are a crucial component of national cancer control plans. The AFCRN continues to provide technical and scientific support to cancer registries in SSA; deliver tailored training in cancer registration methods and the management of the data; advocate the cause of cancer registration in the region and facilitate setting up associations and networks of cancer registries; and coordinate international research projects and the dissemination of findings.

The Charity invites applications for research grants and educational grants. Eligibility is restricted to applicant who have expertise in the field and is operating projects in LMICs, either from the UK or in the countries concerned.

Procedures of accepting a new project

A potential applicant would be invited to submit a copy of his/her curriculum vitae, along with a copy of a completed New Project Application Form. The Form contains a summary of the project that the applicant wishes to operate under the mechanism of the charity.

The Board of Trustees will discuss and give any necessary instructions for the next step. Should the trustees consider that the project is suitable, they would invite the candidate for a meeting (either in person or virtual) to clarify any remaining queries.

A final decision is determined by a meeting of the Trustees. The applicant would be informed of the decision within 10 working days.

How our grants and research programmes delivered public benefit in March 2023- February 2024

Burkitt lymphoma is one of the most common childhood cancers in equatorial Africa, accounting for up to 50% of all paediatric cancer in some regions. Most families cannot afford the cost of treatment or even travel to a centre capable of providing care. Yet the disease is highly curable, even when resources are limited.

1 International Agency for Research on Cancer, Cancer Today https://gco.iarc.fr/today/home

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The Challenge Fund

Report of the Trustees for the year ended 29th February 2024

The INCTR BL programme began in 2004. The programme aims to provide cancer treatment drugs and care free to eligible patients. The programme also covered some side-effect treatments such as antibiotic drugs. Since the passing of Dr Ian Magrath and Mrs Melissa Adde [March 2023], the BL programme has been suspended.

The Two Worlds Cancer Collaboration Foundation (TWCC) was established as a Canadian registered society and charitable foundation in 2011 for the provision of strategy, infrastructure and funding to support the existing palliative care (PAX) programme, and to enable expansion of its activities in Hyderabad (Nepal) and other global jurisdictions.

The beneficiaries of the PAX programme are terminally ill cancer patients and their families, and the palliative care health providers in Nepal. As part of the programme, one of the main objectives of the Project is to build a new palliative care centre to provide quality cancer care to terminally ill patients, and tailored education to doctors and nurses in Nepal.

In 2023, the Hospice project (www.projecthospicenepal.org.uk ) coordination team in the UK, led by Emily Brown led by Emily Brown continued to raise funds towards the development of the Nepal hospice. They mainly raised funds through a charity dinner held at Everest Inn in Blackheath London in April of 2023 and a London Royal Parks Challenge held in September of 2023.

The money raised for the Nepal Hospice Project is ring-fenced and hosted in the charity accounts until funding requests are received and approved by the Trustees.

The beneficiaries of the AFCRN programme are the population-based cancer registries (PBCRs) in SSA and the users of the data produced by these PBCRs.

During 2023, the Network supported a membership of 36 members across 24 SSA countries. The most significant activities during the year were:-

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The Challenge Fund

Report of the Trustees for the year ended 29th February 2024

D. London Global Cancer Week (LGCW)

The Charity’s UK advocacy began in 2016 with events held at Oxford Town Hall, as part of the charity’s promotion and fundraising activities. Since 2020, the Charity has provided support for the annual the London Global Cancer Week (LGCW) conference, which yearly has attracted increasingly larger attendance and substantial external funding.

The purpose of LGCW is to promote activities for improving healthcare for cancer patients in developing countries both in the UK and in LMICs. The nature of the event is a series of meetings, webinars, discussion and workshops within a fixed timeframe (one week). The main PIs for LGCW are Mr Mark Lodge and Dr Susannah Stanway.

The London Global Cancer Week conference ran from 13-18 November 2023 and featured 32 events presenting 201 expert speakers and drawing an estimated audience of 2500+ attendees from 150 countries. Topics ranged from policy making to data collection in African hospitals and providing cancer care and conducting cancer research in times of conflict. Events included sessions hosted by WHO (in association with IARC and IAEA), NCI Kyiv and a Parliamentary event at the Houses of Parliament hosted jointly by the Lancet Oncology.

The test for each LGCW is how successfully it has shared knowledge and provided the opportunity for new developments and positive change. LGCW 2023 provided a platform for a presentation on Cancer Surveillance in sub Saharan Africa featuring the work of the African Cancer Registry Network, a key project supported by the Charity. (This session is viewable at https://www.lgcw.org.uk/watch-again/) The conference included an influential Round Table discussion on Building Health Care Systems Resilience in Low and Middle Income Countries; a summary of which is published in Cancer Control 2024 (ref: https://www.cancercontrol.info/wpcontent/uploads/2024/10/24-27-roundtable.pdf). LGCW 2023 was also marked by the historic broadcast by the Commonwealth Secretary General Rt Hon. Patricia Scotland K.C. committing the Commonwealth to aligning itself with the conference in the pursuit of the elimination of cervical cancer within its member states.

Monitoring achievement

The success of the PAX programme is evaluated by the increased number of nurses and medical staff being educated by the programme and with an increase in the number of patients being helped by the team. The current goal was to raise sufficient funds to start the construction of the hospice, which was hoped to commence in 2024.

The overall goal of the AFCRN is to increase coverage of high quality cancer registration in the SSA countries. The success of the AFCRN activities is evaluated in terms of the number of registries and the number of countries with a cancer registry, their data quality and comprehensiveness, and the use of their data.

The indicator of a success of the LGCW event is the number of organisations contributing to the LGCW, and the impact from the event, and the activities resulting from it.

Trustees’ Meeting

There was one board meeting during this financial year (June 2023).

Matters arising.

Following the resignation of Ms Patricia Newland from Executive Director role, the charity is yet to identify a new candidate for the position.

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The Challenge Fund

Report of the Trustees for the year ended 29th February 2024

Two new Trustees joined the Board. They are Mr Mark Lodge, Director of the London Global Cancer Week, and Dr Anne Makena from the Oxford-Africa Initiative, University of Oxford.

The trustees agreed that the charity would continue to ring-fence the existing funding for BL, and supported of restarting the programme following the clarification of certain remaining funding issues.

The Board also wished to start a new project either by adapting one or developing one within the charity. The matter will depend on the recruitment of a new Executive Director.

Financial review

The Charity’s work is partly reliant on individual donations, fundraising by volunteers and, partly on the receipt of restricted grants from other donors.

BL

There is approximately £13,000 ring-fenced in the bank for the BL programme. Geoffrey Niblett confirmed that the CNMF will continue to raise funds to support activities directed at the treatment and support of children with Burkitt lymphoma.

PAX

In 2023/24, the Nepal Hospice UK team raised approximate £38,000.

AFCRN

AFCRN activities were mainly funded by the Bloomberg Data for Health Initiative via its research agency the Vital Strategies in the USA. The main expenditure of these funding were project activities fund, support of the development of cancer registries in SSA, and travel for consultancy and training purposes. Other research institutes providing support included University of Halle-Germany, UICC and WHO/IARC. The total income for the programme in 2023/24 was £70,946. Overheads on grants received for the programme were used to finance the running costs of the charity.

LGCW

Via the 2023 event, LGCW raised £67,524 through sponsorship and donations.

Reserves policy

The Trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately three months of unrestricted charitable expenditure. The Trustees consider that this level will provide sufficient funds to respond to applications for grants and ensure that there are sufficient funds available to cover support and governance costs. It is considered that a level of 3 months is sufficient.

The balance held as unrestricted funds at 29th February 2024 was a surplus of £3,103 against an actual 3 month spending of £200 for rent. The current level of reserves is therefore higher than is needed.

Plans for the future

The Charity will continue to support the programmes described above in the next financial year.

This report was approved by the Board on ………………………… 2025 and signed on its behalf by

…………………………… Prof. Sir Walter Bodmer Trustee

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The Challenge Fund

Independent Examiner's Report to the Trustees of 29th February 2024

I report to the charity trustees on my examination of the accounts of the charity for the year ended 29th February 2024 which are set out on pages 8 to 14.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Andrew Rodzynski FCA For and on behalf of Wenn Townsend Chartered Accountants, 30 St Giles, Oxford OX1 3LE

…………………………… 2025

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The Challenge Fund

Statement of Financial Activities for the year ended 29th February 2024

Unrestricted Restricted Total Unrestricted Restricted Total
Notes funds funds 2024 funds funds 2023
£ £ £ £ £ £
Income
Donations 74 111,131 111,205 - 43,861 43,861
Investment income 3 1,481 - 1,481 256 - 256
Charitable activities 2 - 70,946 70,946 - 294,625 294,625
Other income - - - - 462 462
───── ───── ───── ───── ───── ─────
Total income 1,555 182,077 183,632 256 338,948 339,204
───── ───── ───── ───── ───── ─────
Expenditure
Charitable activities 4 35 304,592 304,627 214 318,890 319,104
───── ───── ───── ───── ───── ─────
Total expenditure 35 304,592 304,627 214 318,890 319,104
───── ───── ───── ───── ───── ─────
Net income/(expenditure) 1,520 (122,515) (120,995) 42 20,058 20,100
Fund balances brought forward at 1st March 2023 1,583 252,596 254,179 1,541 232,538 234,078
───── ───── ───── ───── ───── ─────
Fund balances carried forward at 29th February 2024 3,103 130,081 133,184 1,583 252,596 254,178
═════ ═════ ═════ ═════ ═════ ═════

The notes on pages 10 to 14 form an integral part of these financial statements

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The Challenge Fund

Balance Sheet as at 29th February 2024

Notes 2024 2023
£ £ £ £
Non current assets
Computer equipment 7 - -
Current assets
Debtors 17,729 90,077
Cash at bank 293,369 192,328
───── ─────
311,098 282,405
Creditors: amounts falling due
within one year 8 (177,914) (28,226)
───── ─────
Net current assets 133,184 254,179
───── ─────
Net assets 133,184 254,179
═════ ═════
Unrestricted funds 3,103 1,583
Restricted funds 9 130,081 252,596
───── ─────
133,184 254,179
═════ ═════

The financial statements were approved and authorised for issue by the Trustees on …………………. 2025 and signed on their behalf by:

…………………………………..

Prof. Sir Walter Bodmer Trustee

The notes on pages 10 to 14 form an integral part of these financial statements

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The Challenge Fund

Notes to the Accounts

for the year ended 29th February 2024

1 Accounting policies

(a) Basis of preparation

(b) Fund accounting

(c) Income

Income from investments is credited in the period in which it is receivable.

(d) Expenditure

Debtors and creditors receivable/payable within one year

(f) Going concern

(g) Fixed assets

Furniture and equipment 25% Straight line

2. Income from charitable activities

2024 2023 £ £ Grants 70,946 294,625 ══════

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The Challenge Fund

Notes to the Accounts for the year ended 29th February 2024

…………………. continued

3. Investment income

3. Investment income
2024 2023
£ £
Interest receivable 1,481 256
══════ ══════
4. Charitable expenditure
AFCRN BL PAX
LGCW		 Total Un- 2024 2023
restricted restricted
£ £ £
£		 £ £ £ £
Restricted
Administrative costs 26,170 - - - 26,170 - 26,170
34,509
Research co-ordination
costs 11,645 - - - 11,645 - 11,645
1,600
Consultancy 19,837 - - 52,194 72,031 - 72,031
56,465
Meetings 82,304 - - - 82,304 82,304
62,575
Training 852 - - - 852 - 852
12,825
MoU agreement 95,160 - - - 95,160 - 95,160 147,767
Grants - - - - - - -
-
Bank charges 956 - 72 53 1,081 - 1,081
1,795
Support costs (note 5) 14,339 - 1,010 - 15,349 35 15,384
1,568
251,263 - 1,082 52,247 304,592 35 304,627 319,104
5. Support costs
2024 2023
£ £
Rent 790 660
Promotion - 1,089
Travel, subsistence and accommodation 3,176 4,704
Website costs 1,310 546
Bank charges 192 -
Sundries 35 214
Exchange difference 6,707 (8,296)
Governance costs (see note 5a) 3,174 2,366
Depreciation expense - 285
───── ─────
15,384 1,568
═════ ═════
5 (a) Governance costs
2024 2023
£ £
Independent examiner’s fees 3,174 2,366
Trustee meetings - -
───── ─────
3,174 2,366
═════ ═════

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The Challenge Fund

Notes to the Accounts for the year ended 29th February 2024

…………………. continued

6. Related party transactions

The Trustees neither received any emoluments nor reimbursed expenses during the year (2023: £Nil).

There were no related party transactions in the current or preceding year.

7. Tangible fixed assets

Computer Equipment
£
Cost b/fwd and c/fwd 1,137
─────
Depreciation b/fwd 1,137
Depreciation charge for the year -
─────
Depreciation c/fwd 1,137
─────
Net book value at 29th February 2024 -
═════
Net book value at 28th February 2023 -
═════
8. Creditors: amounts falling due within one year
2024 2023
£ £
Independent examiner’s fees accrued 5,264 4,070
Deferred grant income 172,650 24,156
───── ─────
177,914 28,226
═════ ═════

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The Challenge Fund

Notes to the Accounts for the year ended 29th February 2024

…………………. continued

9. Restricted funds – current year

9.
Restricted funds – current year
Balance at Transfer Balance at
1st March Income Expenditure between 29th February
2023 funds 2024
£ £ £ £ £
The African Cancer Registry Network
202,555		 70,946 (251,263) - 22,238
Palliative Care Access programme 35,378 38,505 (1,082) - 72,801
Burkitt Lymphoma 8,043 5,102 - - 13,145
LGCW 6,620 67,524 (52,247) - 21,897
───── ───── ───── ───── ─────
252,596 182,077 (304,592) - 130,081
═════ ═════ ═════ ═════ ═════
Restricted funds – prior year
Balance at Transfer Balance at
1st March Income Expenditure between 28th February
2022 funds 2023
£ £ £ £ £
The African Cancer Registry Network
182,221		 295,088 (274,754) - 202,555
Palliative Care Access programme 22,587 13,880 (1,089) - 35,378
Burkitt Lymphoma 7,263 780 - - 8,043
LGCW 20,467 29,200 (43,047) - 6,620
───── ───── ───── ───── ─────
232,538 338,948 (318,890) - 252,596
═════ ═════ ═════ ═════ ═════

The Report of the Trustees on pages 2-7 provides further information on each restricted fund held.

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The Challenge Fund

Notes to the Accounts for the year ended 29th February 2024

…………………. continued

10. Analysis of funds – current year
Restricted Unrestricted Total
£ £ £
Tangible assets - - -
Debtors 17,729 - 17,729
Bank and cash 290,266 3,103 293,369
Creditors (177,914) - (177,914)
───── ───── ─────
130,081 3,103 133,184
═════ ═════ ═════
Analysis of funds – prior year
Restricted Unrestricted Total
£ £ £
Tangible assets - - -
Debtors 90,077 - 90,077
Bank and cash 190,745 1,582 192,327
Creditors (28,226) - (28,226)
───── ───── ─────
252,596 1,582 254,178
═════ ═════ ═════

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