Charity reglstration nunTrber 1090822 Company r*glstratlon number 04312822 (England and Walès) PRO CANCER RESEARCH FUND {A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
PRO CANCER RESEARCH FUND {A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Trustees rs Gonul Salih Professor Chris Foster Prof8ssor Mustafa Djamgoz Secretary Mrs Sabire Dj8mgoz Charily number 1090822 Company number 04312822 Registered office 9 Park View Road London N3 2JB Indèpèndènt aMiner KLSA LLP Kalamu House 11 Coldbath Squa London EC1R 5HL Bankers Naliansl Wèstmlnster Bank pk Addiscombe Branch 209 LowerAddiscombe Road Croydon United Killgdom CR9 6RB
PRO CANCER RESEARCH FUND (A COMPANY LIMITED BY GUARANTEE) CONTENTS Page Tru$18es Report Teport Independent examinerfs report Stalernenl o[finanal acti]11e3 Balan¢e sheet oles lo fhe financial slalemenls 7-10
PRO CANCER RESEARCH FUND {A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORTI FOR THE YEAR ENDED 31 OCTOBER 2022 We are pleased lo present our rèpori togelher with the financial slalemenls of the charily foi the year ended 31 October 2022. The financial statements have been prepar@d in accordance with the accounting policies sel OLfl in note I lo the financial statements and comply with the Charity's Aol 2011, the Companies Act 2006 and "Accounting and Reporting by Charities,, Slalemenl ol Recommended Pia¢tice applic2ble lo tharities preparing their accounts in accordance with tho Finaniaal Reporting Standard applicable in the UK and Rèpublic of Irèland IFRS 1021 (as amended for accounting periods commencing from 5 October 20181. The Charity Is a publ1¢ Benefit Entity as defined by FRS 102. Patient Support Group/Amher Care Centro The patsenl Support Group has not bean active for some years and the balance of ils bank acwunl w25 transferred to Ihe charity's maill account. In order lo streamline the charily's financial burden. the sUPPOrt Celllre also closÈd its doors. However, Professor Djamgoz continues lo support patients diredly. Oblectives and activities Research on MÈtaststl¢ Can¢er$ (Prostate. Breast and Colorectsll wÈth th8 ovèrall stratagy of 'can¢er neuroscience.. Professor Ojamgoz Telired from active 8¢ademia in February 202Q but has been appointed Emerilus Professor at Imperial College London. He doos not cu¥rently have his own lab bul continues doing cojlaboralive iesearch al Imperial and internationally. During 2021-22. 6 résearch papers were published which acknowledged the support of PCRF. Strategic report The desoriplion under the headings'Aehievements and performan¢e" and"Flnancial revievl, meet the company law requirements for tho Trustees to present a strategic report. Achievements and perfomiance Professor Djamgoz supported patients in the following ways.. Help in understanding diagnosis and trèatment.. 2. Nulrilional support., 3. Signposting lo the necessary hosptlals or support organlzallons., and 4. Help patients in accessing treatments. Financlal review The charills incoming resources ft>r the year amounted lo £7,34312Q21.. £241. £2,156 <2021.. £2,232) was SnI ( charitable actiwlies and £nil (2021.. £901 c>n fundraising activities. £22,516 was received frotll IFnperial College. which is the refund against the doublé paym6nt made 2 May 2Q19 leamng the charity wlh funds rrIed forward a8 al 31 October 2022 01 £57,661 12021." £29.9581.The truslees are pleased wlh the financxal perf0mlan of tha charity during thè year and its financial position al the balance sheet dale. Over the years, the funds were restricted to make sure that the charity always had ènough funds to eonlinue the special Fellowship created. As explained in the Annual Report. the charity has been goinq through a transitn since Fèbruary 2020 whereby we have not aGtively been supporting major research. Con8&quently, with big dèm8nd our $oUrceS and regular income nSIderablY rèducèd. WÉ would release Ihe restricted funds. We will ffom time give some small grant5 but Ihere is no longèr ¢X)mmilmént for règular support for major research. The charity relies on donations and grants from indivNJuals and inslitulions, together with fundraising events. Amounts reiVed during the yèar under èach heading are shown in the notes lo Ihe aCUnIs.
PRO CANCER RESEARCH FUND (A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) {CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022 Prlnelpal rlsks and uncèrtainties Risks are re@Wed by the Board of Trustees and appiopriate processe8 put in place lo monitor and mitigate them. Key risks affecting tho Charity are set out below.. Reputational rlsk- Reputalional darnage lo the Charity may arise from adverse publialy for 8 number of reasons, including errors or bias in research reports, poor decision m8king or misconduct by Ihe Trustees, involvement of regulators or aclions taken by staff. Trustees rely on Iheir recruilmenl, indu¢lion and Irdining of Trustees policies to rniligale this risk. Financial risk: Liquidity risk - The Gharily seek8 to rnanagc finanoial risk by 8nsuring suffieianl liquidity is available lo meet foreseeable needs by moniloring Ihe working capi(al requtremenls. Regulatory or compliance risks Compliance risk may arise if the Chaiily fails lo comply with Charity Commission or HNIRC requiiefflenls. Thls may lead to adverse publicity, censure or penalties, and as a result may lead lo reduced lulure operations. These risks aré Mitigated by the active management of the Charily'8 affair8 by appropriately qualified legal and finall staff employed by Ihe Trustees. Risk Management The Trustees have adopted the followlng risk managemenl stralegy.. an annual review of the risks that tha charity may face., establishmenl of system5 and proeÉdurès to mitigate those risks identified in the plan,. and the implementation of procedures dÈsignèd to Minimise any KM)tenlial impacl on the oharily should thos& risks materialise. Going concern The board has assessed the going ¢onogtn of Ihe charily in detail as stated in note 1 and 1$ confidÈnl that the charity will have adequate resources lo conlinue in operational existence lor the foreseeable future. Plan5 for future perlods There are currently no specAfic plans for the future. Howgver, lollowing the current consolidatn period, the Iruslees will meet lo have a disctjssion about the way forwaTd. In the meantime, Ihe chatity will continue giving small grants to key projects. Structure. governance and management The organisalion is a charitable company1Smit6d by guarantee, ineorporated on 29 October 21J07 and iegislsrgd as a charity on 27 February 2002. The comp8ny was established under a Memorandum of Association, which eslablished thé objects and powers of the ohaiilable cotnpany. and is govemed under ils Articles of Association. In the event of the company bein9 wound up, members are required lo contribut8 an amount not axceeding £1. The Trustees, who are also the 4Jirectors for the purpose of company law. and who served durtng the y&ar and up to the dale of signature of the financial statéments were.. Mrs Gonul Salih ProfessoT Chris Foster Professar Mustafa Djamgoz
PRO CANCER RESEARCH FUND (A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORTI (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022 Thè dirèctors of the company ale also its trustees for the purpose of charfty law and IhroLFghout this report are collectively ielarred to as t¥uslees. The Board of Trustees is responsible for the overall governance of the charity. Palenlial new Iiuslee5 are nominaled by an exi8tsng trustee and then appointed 8fteT a Vote by all Ihe trustees. We have just appointed a new trustee and are in the wocess of recruiting another. Effective partnership between thè staff and Ihe board of tiuslee8 and regular updates on the actiwlies undertaken is vital lo the effective managerllenl of the Charity. We are always exploring nèw ways that can improve this even more. Thè trustees will attempt lo meet quarterly and are notified by email of any signfficanl developmonls in between thè méetings. We are considering rnore fqUellt meetings and more regulaT wrillell updates and are looking lo improve all our reporting guidelines as the charity is now growing and changing. The Board delegates the exei¢i88 of certain powers in connection wllh the management and administration of the charily as sel out further below. This is eontmlled by requiiing regulaT reporting back to the Board and having a Iiuslee who is also involved in the day lo day running of the charily. The Trustees Roport report, induding the slralÈgic réport. was approved by the Board of Trustees. Profes8or USta(a Ojamgoz 25 July 2023
PRO CANCER RESEARCH FUND (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PRO CANCER RESEARCH FUND I rèport on the finanGial statèments of the Charity lor the year ended 31 October 2022, which are set out on pagès 5 to 10. Respecllve responsibilltles of TNsteÈs and examlner The Charily's Trustees. who arè also Ihe diieelors of Pro Canr Research FLSnd for the purposés of company law, aré r6sponsiblo for the preparalion ol th8 financial 61alemenls. Thè Trustees consider Ihal an audit is not required for this year under section 144121 ol the Charities Act 2011 {Ihe 20fj1 Acll and that an independenl éxamination is need8d. Having satisfied myself that th8 charity is not subject lo audit under CL>mpany law and is eligible foi independent examinalion, il is my rèsponsibility to.. èxamine the finanual slatémenls under section 145 of the 2011 Act., 1111 lo lolbw thè proceduros laid dowr) In the geller81 Direciions given by the Charity Commission under seellon 14515llbl of the 2011 Act- and liiil to slate wh¢lher partICl8r matter8 h8v8 come to my attention. Basis of Independent axamine¢s report My oxaminalion was carried out in accordanTr with the general Diroclions given by the Charity Commission. An examination includes a review of the accounllng iecoTds kept by the charity and a Gomparison of the finanoial statements presented wlh those records. 11 also includes consideration of any unusual items or disdosures in thé financial slaleinents, and seeking explanations from you as trltslees cOnrning any such matters. The prOdureS underlaken do not provide all the evideDGe that would be required in an audit and consequently no opinion is givon as lo whether the fan81 slalemenls present a 'lrue and fair vi, and the report is limited lo those malleis sét out in the next statement. Independent examiner's statemènt In cont)6ctson with my examination. no mattèr has come lo my attention., {a} which gives me reasonable cause lo believe that in any material iespecl requirernents= {il lo keep accounling records in accord8n¢e with section 386 of the Companies Ael 20C6,' and (ill to prepare financial statements which accord with the accounting records. comply with th6 accounting requirements of section 396 01 the Companies Act 200e and with the molhods and principles of the Statement of Rècommended Practice.. Accounting and Reporting by Charities., havÈ not been met or Ib) lo Whh, in my oiinion, attention should be drawn in ordw lo enable a proper undorslanding of the rillan¢ial slalemènts to be reached. Shilpa Chheda FGA FCCA KLSA LLP Chartefed Acwuntanls Kalarnu House 11 Coldbath Square London EC1R5HL Dated.. 25 July 2023
PRO CANCER RESEARCH FUND (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2022 Unrestri¢tèd Unrestricted fullds funds 2022 2021 Notes Income from.. Donalions and legacles Inveslmenls 7.292 51 24 Total Income 7,343 27 endlture on: Raising thnds go Charitable a¢liwties 120,3601 2,224 Total expenditure {20,360) 2,314 Nat incomellexpendaturel for the yearl Net movèment In funds 27.703 12.2871 Fund balan¢es at 1 Novèmber 2021 29,958 32,245 Fund balances at 31 October 2022 57,661 29,958 The stat8ment of finan31 activiiies Indudes all gains and lo¥ses recognised in the year. All income and expenditurè derive Irom continuing adlvilies. The statement of financial activities also ComplS with the requiremenls for an incomé and expenditure account under th& Companies Act 2006.
PRO CANCER RESEARCH FUND (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT31 OCTOBER 2022 2022 2021 Not88 Current assets Cash al bank and in hand 59.774 32,071 Creditors: amounts falling due withln one year 10 12.113) 12.1131 Net current assets 57,661 29,958 Income funds Unrestricted funds 57,661 29,958 57.661 29.958 The compally is entilled lo IhÈ èxemption from the audit requirement conlainÉd in section 477 of the CoMpanS Act 2006, for the year ended 31 October 2022. The dlrectors acknowladge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to acrAJuntino records and the preparation ol financial ststements. The members have not required the Gompany lo obtain an 8udil of its financial sialemenls for the yeaT in question in accordance with section 476. These financial slalernenls have been prepared in aithrdance wlth the ProlS5onS applicable lo companies subje¢t lo the sm811 companies regim8. The financ4al slatemen18 weie approved by the Trustee8 on 25 July 2023 Professor Musiala Djatngoz Trustee Company reglstration numbor 04312822
PRO CANCER RESEARCH FUND {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022 Accounting policios Charlty Informatlon Pro Cancer Research Fund is a private company limited by guarantee incorporated in England and Wales. Thè règistèréd officé is g Park V18w Road, Lot)don, N3 2JB. 1.1 Accounting convention Tho financial slalernonl8 have been prepared in a¢Gordance with the Charity's tgoverning documenll, the Companies Act 2006, FRS 102 The Finan¢ial Reporting Standard applicable in ihe UK and Republic of Ireland ('FRS 102°) and Ihe Charities SQRP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to Gharities prep2ring their accounls in accordance with the FinancK21 Rèporting Standard appli2Abl6 in the UK and Republio of Ireland IFRS IC121" (effective l January 20191. The Charity is x Public BètiÈfit Entity as d6fined by FRS 102. The Charity has taken advantage of th8 provisions in the SORP for chaTities not lo prepare a Slalernenl of Cash Flows. The financial stslernenls are prepared Sn slerling, whlch is the functional currency tsf the Charity. Monetary amounts in Ihose financial slalernenls are rounded Its the nearest £. The finanual slalements have been prepared under the histori1 cost convention. Imodified to include the revaluation of freehold propertses and to include investment properties and rtain financial instruments at fair Valuel. Thè principal accounl'ng policies 2dopl6d are set out below. 1.2 Going concern At the lime of approving the financi81 slalemènts, the TruslÈ8s havè 8 asOnable èxpéctation that th8 Charity has adequate resources lo continué in tspèrational Èxistencè for thè for@sèèablÈ luturè. Thus the Trustè8S conts'nue lo adopt the going conrn basis ol accounting in preparing the finar)¢ial st81ements. 1.3 Charitable funds Unresliicled funds are avallable for use al the discretion of the Trustees In furtherance tsf their tharilable objectives. Restlted funds are subject lo specific ¢ondilions by donors as lo how they may be used. The PLtrposes and uses of the reslricled funds are s81 out in the notes lo the finanoial statements. Endowment funds are subject Its sp8uli¢ conditions by donors that the capital musl be mainlained by the Charity. .4 Income Income is iecognls8d when the Charity is legally èntitled to it after any performance condftions have been met, the amounts ¢an be méasured réliably, and it is probablè thal income will be ree£ivèd. Cash donations are recogniséd on racèipt. Other donations aré recognisèd once thè Charity has been notified of the donation, unless performaneè Conditions requirè deferral of th6 amount. Ine£>me tax recoverable in relation to donations re¢Ved under Glft Ald or deods of covenant Is recognlsed al the lime of the donation. Legacies are recognised on reIpl or otherwise if the Charity has been nolilied of an impending dislribulion, the amounl is thown. and receipt is expected. If Ihe amount is not known. the legacy 13 Iiealed as a contingènt assel. 1.5 Expendltsjre Expenditure is accounted for ¢Trn an awru81s bas18 and has been classified under headings Ihal agoregale all costs ielated lo the category. Wher9 Costs cannot be diTe¢lly attdbuled lo particular headings Ihéy hav8 been allocaled lo aciivities on a basis consislenl with the use of resources.
PRO CANCER RESEARCH FUND {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022 Accountlng policies Icontinuedl 1.6 Cash and cash equivalènts Cash and cash equivalents includé cash in hand, deposits held at call with banks. other short-term liquid investments wilh original maturities of three months or less, and bank overdiafts. Bank overdiafts are shown within borrowings in current liabililies. Basle financial assels Basity financial 8ssels. which indude dèbtors and cash and bank balans, arè initially moasured al transaction pricA tnduding transaction c051s and dre subsequently carried at amortised cost using tho effective inloresl method unless the arrangemenl constitutes a financing transaction, where the transactson is measuiéd at the present value ol the future receipts discounted al a market rate of interest. Financial assets dassified 88 receivable within one year are nol amortised. Dérécognitlon of flnancial assets Financial assÈts are derecognised only when the contractual rights lo the cash Ilows from the asset expire or are sellled. or when the Charily Iransfers the financial asset and sub51antially all thè risks and rewards of ownership lo allolher entity, or il some signrfiGant risk.$ and rewards of ownership are rglained but control of the assél has transferied to another party that is able to sell the assel in its èntirety lo an unrtlated third party. Basic financial liabilities Basic financial liabililio8, including ueditors and bank loans are Initially recognis8d at transa¢Uon price unlèss the arrangement consltLules a financing transaction, where the debt instrumènt is measured at the pr&sent value of thè futur& payments discounted at a mark2t rate of inteiesl. FinancAal liabilities classified as payable within one year are not amortised. Debt Inslrument8 aré Slfbsequenlly carried at amortised cost, using the efforAive interest rate method. Trade CTeditors are obllgalions lo pay for goods or servQ$ that have been acq(tiied in the ordlnary couisa ol operations from suppliers. Amounts payable are classified as current liabilities if payment Is due wilhill one year or legs. If not, Ihoy are presenl8d as n0current liabilities. Tfade ctedilors are recogllised initially 81 Iransaciion pri¢e and subsequently measured al amorhsed cost using the effective interest method. 1.7 Employèe benefits The cost of any unused holiday entitlemet)t Is recLyJni88d in the period in which thè 6mployee's senrices are received. Termination benefits are recognised immediately as an expense when the Charity is demonstrably commilted lo temiinatè Ihe employment of an etnployee or to prowde te¥minalion benefits. Critical accounting estimates and ludgem8nts In the application of thè Charily's aceounling poliryes. Ihe Trustees are rgquired lo mak6 judgements, èstimates and assumptions about th8 carying amount of assets and liabilities that are not readily appaiellt Irom other sources. The e81irnates and associated assumptsons are based on historical experience and olheT factors Ihat are cc>nsidered lo be relevant. Aolual ¥esulls may differ frorn these estimatès. The estimates and undwlying assumptions are reviewed on an ongoing basis. Rovisions lo acct)unting eslimales are recognised in the period in which the estimate is revised where the rewsion affects only Ihat period, In the period of Ihe revision and futurè periods where the reslon affecis both currenl and future periods.
PRO CANCER RESEARCH FUND (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022 Donations and legacies Unrestricted Unr•stricted funds funds 2022 2021 Donations and gifts 7,292 24 Invèstments Unrestricted Unrestricted funds funds 2022 2021 Interest receivable 51 Rai$lng funds Total Unrestricted funds 2022 2021 Fundraisin and ubSieit Stagino fulldraising events 90 90
PRO CANCER RESEARCH FUND {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022 Charitable activities Charitable Charitable Exponditurè Expenditur& 2022 2021 Accountancy Fees Bank charges Sundry Expenses Resear¢h gr8nl- Imperial College 2,113 1,496 28 700 (22,5161 (20,3601 2,224 120,3601 2,224 TYusteèS None of the Trustees {or any persons connected with Iheml reiVed any remuneration or benefits from the Charily durtrng the year. Employees The average monthly number of employees during Ihe year was.. 2022 Numb9r 2021 NumbeT Total There were no employees whose annual remuneration was more than £60,1100. Taxation The charity is exempl from tax on income and gains falling within section 505 of the Taxes Aci 1988 or section 252 of the Taxalionof Chargeabta GainsAct 1992 lo Ihe exlent that these are applied lo its charitable objects. 10 Creditors: amounts falling due within one year 2022 2024 Accruals and deferred in18 2,113 2,113 10-