2020-12-31-accounts

The Royal Cornwall Hospitals Clinical Oncology and Cancer Care Appeal Known As “The Sunrise Appeal” Trustees’ report and unaudited financial statements

For the year ended 31 December 2020 Charity registration number 1084193

The Sunrise Appeal

Contents

	Page
Trustees’ report	1 - 5
Independent examiner's report	6
Statement of financial activities	7
Balance sheet	8
Notes to the financial statements	9 - 14

The Sunrise Appeal

Trustees’ report

For the year ended 31 December 2020

Reference and administrative information

Full name of the charity:	The Royal Cornwall Hospitals Clinical Oncology and Cancer Care
	Appeal
Charity registration number:	1084193
Governing instrument:	Trust deed (dated 14 November 2000)
Trustees who have held office since	Mr AA Hill (Chairman)
1 January 2020	Mr CM Micklewright
	Mrs JM Shephard
	Dr J McGrane
	Dr TLJ Talbot

Future trustees will be appointed by a resolution of the trustees passed at a special meeting.

No trustee has any beneficial interest	in the charity.
Honorary Treasurer	Mr CM Micklewright
Principal address of the charity:	Sunrise Centre
	Royal Cornwall Hospital
	TRURO
	Cornwall
	TR1 3LJ
Independent examiner:	Mark Williams FCA DChA
	RRL LLP
	Peat House
	Newham Road
	TRURO
	Cornwall
	TR1 2DP
Solicitors:	Stephens Scown LLP
	1 High Cross Street
	ST AUSTELL
	Cornwall
	PL25 4AB
Bankers:	Barclays Bank Plc
	14 King Street
	TRURO
	Cornwall
	TR1 2RB
Investment managers:	Rathbone Investment	Charities Property Fund
	Management	c/o Savills Investment Management
	1 Curzon Street	33 Margaret Street
	LONDON	LONDON
	W1J 5FB	W1G 0J

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The Sunrise Appeal

Trustees’ report

For the year ended 31 December 2020

The Trustees have pleasure in presenting their annual report together with the financial statements for the year ended 31 December 2020.

The financial statements comply with the Charities Act 2011, the trust deed, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), including ‘’Amendments to Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland’’.

Objects of the charity

The aim of the charity is to preserve and protect the life of people in the county of Cornwall including the Isles of Scilly in particular but without prejudice to the generality of the foregoing provision of an enhanced Clinical Oncology Department at the Royal Cornwall Hospitals NHS Trust (RCHT), Truro, Cornwall and to relieve persons suffering from cancer.

We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular the trustees consider how planned activities will contribute to those aims and objectives.

Principal powers of the trustees

In furtherance of the objects but not otherwise the trustees may exercise any of the following powers:

• To raise funds and invite and receive contributions;

• To provide medical equipment or items which in the opinion of the Trustees may be necessary to provide facilities in accordance with the highest standards, national and quality assurance guidelines for the Clinical Oncology Department.

• To provide bursaries for members of the Oncology Department in support of research, education and development in oncology treatments.

• To provide sufficient facilities for a quality Clinical Oncology Service.

• To train staff to operate within the department.

• To repair, maintain and renew equipment, machinery and furnishings and pay other incidental expenses incurred at the department.

• To co-operate with other charities, voluntary bodies and statutory authorities operating in furtherance of the objects or of similar charitable purposes and to exchange information and advice with them.

Recruitment and Induction of trustees

Suitable individuals are identified by the trustees on the basis of their skills and knowledge and invited to become trustees.

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The Sunrise Appeal

Trustees’ report

For the year ended 31 December 2020

Recruitment and Induction of trustees (continued)

Trustees undertake an induction programme which involves a briefing on their legal obligations under charity and company law and on the contents of the Trust Deed. They are informed about the decision making processes and familiarised with the financial performance of the charity.

Organisation of the charity

The trustees formulate policy. Operational control is delegated to the Chairman and Treasurer.

Risk management

The trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to mitigate their exposure to the major risks.

The risks of recession and/or deflation and their effect on the values of our investments are difficult for the trustees to gauge. Reliance is placed on the views of our appointed investment managers. Action is taken when deemed appropriate.

Reserves and investment policy

The Trustees have invested £1.504 million in investment funds managed for charities.

The present spread of investments is approximately 9% in property with the balance in a mix of income bonds, equities and derivatives. Surplus cash, at any time, is invested in readily available deposit accounts.

The investment objectives of the funds involved are:

• Charities Property Fund: “aims to deliver a high income yield (6% to 6.5%) and maintain capital values at least in line with inflation”

• Rathbone Active Income Fund: “aims to deliver a total return of Consumer Price Index (CPI) + 4%, and an attractive and sustainable income and will invest in a mix of all asset classes to achieve this target”

In 2016 the Trustees agreed to revise the policy to credit the net movement in funds to the General Fund and allocate transfers to the Bursary fund and the Major capital investment fund when applicable.

The Trustees will not, unless specific authorisation is given, wish to acquire investments where marketability is limited or investments that are tobacco related.

Review of progress

The charity was set up on 14 November 2000 and launched officially on 6 December 2000 at the Eden Project, by Tim Smit, Patron of the Appeal. The target to raise £500,000 was achieved in 2001, representing one-tenth of the cost of the department. The remainder of the money was provided by RCHT, New Opportunities Funding from the lottery, Duchy Health Charity Limited and Macmillan Cancer relief. No further financial targets have been set although fundraising activities continue to contribute to the appeal in order that research and education bursaries can be set up and improvements and innovations can be incorporated into the centre. To date the Trustees have

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The Sunrise Appeal

Trustees’ report

For the year ended 31 December 2020

donated grants for buildings and equipment of £2,382,620 (2019: £2,267,812). To date the Trustees have also granted bursaries amounting to £172,729 (2019: £168,724). Our hope is that Cornwall will continue to have a centre of excellence for the foreseeable future.

Future plans

To continue accumulating donations and legacies for the benefit of the Clinical Oncology Department enabling the Charity to contribute to the purchase of major equipment and associated costs, and to fund research and education bursaries.

As reported last year the Trustees are delighted that the campaign during 2018 and 2019 in response to the NHS consultation paper on the delivery of Radiotherapy in England was successful and therefore the Sunrise Centre will continue the treatment of all but the very rare cancers here in Cornwall.

However the NHS consultation process further emphasised the need for the Clinical Oncology Department at the RCHT to have the very best equipment available and employ high quality consultants and supporting staff in order to retain its current first class status.

The Trustees therefore believe that the Charity’s core objective stated earlier in this Report is just as relevant today as it was when the Charity was set up in 2000 and that we should improve our communications with the Cornish community to help us achieve our goal.

Financial review

The money raised by the charity is being invested in accordance with our investment policy, outlined above. £1,964,649 is the current market value of the investments (2019: £1,936,787).

Total funds now amount to £2,268,189 (2019: £2,240,488) as set out on page 7.

In common with many other Charities the Covid 19 Pandemic has had an adverse effect on donations and fundraising activities giving a reduced income from that source of £123,197 (2019: £137,865). This reduction is partly offset by an increase in legacies amounting to £32,942 (2019: £Nil) during the year. Despite the difficult conditions in the investment market there has, nevertheless, been a slight increase in the value of our investment funds presently unrealised amounting to £27,862 (2019: £153,040). The payments in grants for equipment were slightly higher amounting to £114,808 (2019: £91,381). In 2020 the charity approved and paid bursaries amounting to £4,005 (2019: £1,155). The change in the value of investments however should be cautioned as past performance should not be seen as an indication of future performance.

Investment performance

The Charities Property Fund delivered an income yield of 4.2% (2019: 4.4%) and a decrease in capital value of (3.1%) (2018: a decrease of 2%).

The Rathbone Active Income Fund delivered an income yield of 2.3% (2019: 3.3%) and an increase in capital value of 1.8% (2019 an increase of 9.6%).

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The Sunrise Appeal

Trustees’ report

For the year ended 31 December 2020

Statement of trustees’ responsibilities

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

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing those financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP 2015 (FRS 102);

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to independent examiner

So far as the trustees are aware, there is no relevant information of which the charity’s independent examiner is unaware.

Additionally the trustees have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant information and to establish that the charity’s independent examiner is aware of that information.

By order of the trustees

Sunrise Centre Royal Cornwall Hospital TRURO TR1 3LJ

Trustee

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The Sunrise Appeal

Independent examiner’s report

to the Trustees of The Sunrise Appeal

For the year ended 31 December 2020

I report to the charity’s trustees on my examination of the accounts of the Charity for the year ended 31 December 2020, which are set out on pages 7 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.

Chartered Accountant RRL LLP Peat House Newham Road TRURO TR1 2DP

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The Sunrise Appeal

Statement of financial activities

Statement of financial activities
For the year ended 31 December 2020
		2020	2019
	Notes	£	£
		Unrestricted	Unrestricted
Income
Donations and legacies	2	71,526	73,197
Investments	3	51,671	64,668
		__	__
Total income		123,197	137,865
		__	__
Expenditure on
Raising funds
Cost of generating voluntary income	4	298	323
Charitable activities	5	123,060	102,942
		__	__
Total expenditure		123,358	103,265
		__	__
Net (expenditure)/income and net movement in funds
before gains and losses on investments		(161)	34,600
Net gains on investments	8	27,862	153,040
		__	__
Net movement in funds		27,701	187,640
Reconciliation of funds
Funds brought forward		2,240,488	2,052,848
		__	__
Funds carried forward	12	2,268,189	2,240,488

The charity has no recognised gains or losses in the year ended 31 December 2020 or 2019 other than those passing through the statement of financial activities.

There were no acquisitions or discontinued activities in the year ended 31 December 2020 or 2019.

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The Sunrise Appeal

Balance sheet

As at 31 December 2020

Notes £ Fixed assets Investments 8 Current assets Debtors 9 14,756 Cash at bank and in hand 290,534 __ 305,290 Creditors: amounts falling due within one year 10 (1,750) __ Net current assets Net assets Represented by: Unrestricted funds 12 Total funds	2020 £ £ 1,964,649 16,910 292,870 _ 309,780 (6,079) _ 303,540 __ 2,268,189 2,268,189 __ 2,268,189	2019 £ 1,936,787 303,701 _ 2,240,488 2,240,488 _ 2,240,488

The notes at pages 9 to 14 form part of these financial statements.

These financial statements were approved and authorised for issue by the trustees on XXXXX and were signed on its behalf by:

Trustee

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The Sunrise Appeal

Notes

(forming part of the financial statements)

1 Accounting policies

1.1 Accounting convention

The Sunrise Appeal is a charitable unincorporated association in the United Kingdom. The address of the registered office and the nature of the charity’s operations and principal activities are given in the Trustees’ Report.

The charity constitutes a public benefit entity as defined by FRS 102.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounting and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £1.

1.2 Income

Donations and legacies

Donations and legacies are recognised in the financial statements when the amount can be measured with reasonable certainty and it is probable that they will be received.

Investment income

Investment income is recognised on a receivable basis.

1.3 Expenditure

Expenditure is recognised once there is legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Expenditure on raising funds relates to the cost of publicity for the charity.

Expenditure on charitable activities includes the costs of bursaries, building and equipment costs and their associated support costs. Governance costs represent independent examiner fees.

1.4 Cash flow statement

The Charity has opted to prepare the accounts under Charities SORP (FRS102) and is exempt from preparing a cash flow statement on the grounds that it is a small charity.

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The Sunrise Appeal

Notes

(forming part of the financial statements)

1.5 Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The Charity does not acquire put options, derivatives or other complex financial instruments.

1.6 Realised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

1.7 Debtors

Tax recoverable and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.8 Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.9 Creditors

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

1.10 Financial instruments

The trust 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.11 Funds

Restricted funds are to be used for specified purposes as laid down by the donor.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purpose.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

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The Sunrise Appeal

Notes

(forming part of the financial statements)

1.12 Taxation

Corporation Tax

The Trust is a registered charity and the results of its normal activities are not liable to Corporation Tax.

Value Added Tax

The charity is not registered for Value Added Tax. In these financial statements, where applicable, expenditure is shown inclusive of VAT.

1.13 Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

2 Donations, legacies, fund raising and Gift Aid tax recovered

Unrestricted (£1,500 and over) Miss Virginia Sheryl Reynolds Mr Norman Sidney Wilder estate Mrs Margaret Rose Billing estate Mrs Jean Collop estate Legacies sub total Just Giving Gift Aid Mr Andrew Flint My Sunrise App Mr Robert Gore Mr & Mrs David Melbourne Ed Cudmore – via Just Giving but not included above Simon Brown – plus Gift Aid of £1,456 included above Rotary Club of Wadebridge Andy & Nicky Wooders – Cycle Ride Mark Bryant – Walk Crantock Bale Push R & K Hore Caroline & Claire – Coast Path Walk St Buryan & District YFC Balance for donations and legacies	2020 £ 500 17,931 10,000 4,511 32,942 4,493 2,750 5,000 1,500 5,000 - - - - - - - - - - 19,841 71,526	2019 £ - - - - - 6,884 1,551 2,000 - - 3,001 1,859 8,603 2,500 2,574 2,721 2,000 1,500 1,841 2,301 33,862 73,197

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The Sunrise Appeal

Notes

(forming part of the financial statements)

3 Investment income Investment income Bank interest 4 Raising funds Publicity 5 Charitable activities Contribution to the RCHT for: Bursary costs Equipment and associated building costs Support costs (see Note 6) Governance costs (see Note 6) Charitable donation 6 Support costs and governance costs Support costs: Charge from the RCHT Administrative assistance Cost of public relations Governance costs: Independent examiner’s fee		2020 £ 51,598 73 51,671 2020 £ 298 2020 £ 4,005 114,808 2,687 1,560 - 123,060 2020 £ 2,687 - 2,687 1,560	2019 £ 64,501 167 64,668 2019 £ 323 2019 £ 1,155 91,381 7,986 1,560 860 102,942 2019 £ 2,788 5,198 7,986 1,560

Support and governance costs relate wholly to charitable activities.

7 Staff costs and numbers

The charity uses the services of many volunteers who provide their time free of charge, it would be impractical to measure their contribution to the charity so no amount is included in the financial statements in line with the SORP (FRS 102). The trustees received no remuneration or reimbursement of expenses in either the current or previous period.

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The Sunrise Appeal

Notes

(forming part of the financial statements)

8 Investments

8 Investments
Rathbone Active Income Fund £ Market value At 1 January 2020 1,777,751 Revaluation 31,962 __ At 31 December 2020 1,809,713 The cost of the above UK investments is £1,504,146 (2019: £1,504,146). 9 Debtors Tax recoverable Other debtors and prepayments 10 Creditors: amounts falling due within one year Accruals	__	The Charities Property Fund £ 159,036 (4,100) __ 154,936 2020 £ 2,750 12,006 ______ 14,756 2020 £ 1,750	Total £ 1,936,787 27,862 _ 1,964,649 2019 £ 1,551 15,359 _ 16,910 2019 £ 6,079

11 Transactions with trustees and connected persons

Due to the nature of the charity’s operations and composition of the trustees, it is inevitable that transactions will take place with organisations in which a trustee or persons connected with them, may have an interest. Trustees do not vote on any decision made regarding organisations in which they have an interest.

During the year bookkeeping services totalling £1,000 (2019: £1,000) were provided by the wife of CM Micklewright (trustee). The amount due at the balance sheet date included within accruals was £250 (2019: £250).

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The Sunrise Appeal

Notes

(forming part of the financial statements)

12 Unrestricted funds

Unrestricted funds
		Surplus		At 31
	At 1 January	for the		December
	2020	financial year	Transfers	2020
	£	£	£	£
Designated funds
Bursary fund	33,641	-	(4,005)	29,636
Major capital equipment fund	1,750,000	-	-	1,750,000
General fund	456,847	27,701	4,005	488,553
	__	__	__	__
Total	2,240,488	27,701	-	2,268,189

The trustees have agreed to debit the net movement in funds to the General Fund and allocate transfers to the Bursary fund and the Major capital investment fund when applicable.

Major capital equipment fund – the trustees have agreed to maintain this fund at £1,750,000 as at 31 December 2020.

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