OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

← Kidscan Limited

2024-07-31-accounts

KIDSCAN LIMITED

REPORT AND FINANCIAL STATEMENTS

Year ended 31 July 2024

Company Registration Number: 04279954 Charity Number: 1094946

Financial Statements

KIDSCAN LIMITED

Year ended 31 July 2024

Contents Page
Members of the board and professional advisers 3
Trustees’ annual report 4 - 10
Statement of trustees’ responsibilities 11
Independent auditor’s report 12- 15
Statement of financial activities 16
Balance sheet 17
Statement of cash flows 18
Notes to the financial statements 19 - 27

2

Members of the Board and Professional Advisers

KIDSCAN LIMITED

The board of trustees R P Dennis
D K Mosley
E L McMurtry
J S Lea
K Perera (resigned 23rdFebruary 2024)
S L Thorp
R S J Pawlow (appointed 29thFebruary 2024, resigned 30th
September 2024)
Company secretary E L McMurtry
Scientific committee R Falconer
Dr G McDowell
Prof M Slevin
Dr Ian Pike
C Quinn
Prof J Sweeney
Scientific director Dr D Pye (Resigned 31stAugust 2024)
Registered office Alumni House
Acton Square
Salford
M5 4NY
Auditors Mitchell Charlesworth (Audit) Limited
Chartered Accountants
Statutory Auditor
3rd Floor
44 Peter Street
Manchester
M2 5GP
Bankers Barclays Bank plc
PO Box 357
5th Floor
Mosley Street
Manchester
M60 2AU

3

Report of the Trustees

KIDSCAN LIMITED

Year ended 31 July 2024

Chair’s Report

It continues to be an honour to be the Chair of the Board of Trustees for Kidscan Children’s Cancer Research. We are still recovering from the issues created by the pandemic and the economic crisis. During the past year, we adjusted our cost base to focus our efforts to better address our issues going forward. We continue to develop our plans to cement our future success. The Board of Trustees, executive team, volunteers, ambassadors, patrons and of course supporters remain totally dedicated to growing our footprint and activities and I want to express my thanks and gratitude to our whole Team.

Our work on Children’s Cancer Research remains crucial and must continue to exist to ensure that young people not only survive cancer but have the chance to thrive after it. Cancer remains one of the leading causes of death in children aged 1-15 years in the UK (Source: Office for National Statistics). Of those diagnosed, 20% of children won’t make it to their 30th birthday (Office for National Statistics). Many of the children who do survive, suffer life-long life-limiting side effects caused by the treatments used to cure them.

Kidscan does not receive statutory funding, but with the contributions from Individuals, general public, grants and businesses we look to fund dedicated research to develop new treatments that will not only cure children with cancer, but also prevent the side effects of current treatments such as learning difficulties, mobility issues and infertility, which are resultant side-effects of current treatments. Part of this process is the continued educational activities that the Charity undertakes to ensure that the awareness of childhood cancers remains as high as we can make it.

As we have previously informed treatments for children and young adults remain effectively ‘watered down’ adult treatments. These treatments are designed to target rapidly developing cells normally seen as cancer cells in adults, which are visually seen in aspects such as hair growth and immune systems. In children rapidly developing cells are a normal process of a young person’s growth, hence, when being treated for their cancer with these drugs, they often suffer much more severe side-effects, including long term issues, as these normal, healthy cells are also targeted through the treatment.

Our position remains that children’s cancer research is grossly underfunded and under resourced by pharmaceutical companies as they view the investment needed will not provide an adequate return, we also feel the need to publicise the need for greater interest and investment to address this imbalance. In addition major national cancer charities also focus their efforts on adult cancer research rather than those associated with children. A consequence is a talent drain of researchers in this area. At Kidscan we want to reduce and hopefully mitigate these adverse effects.

The need to support Kidscan Children’s Cancer Research really comes to the fore when reading our amazing young Ambassador’s stories, which can be found on our website.

The generation of increasing income within the present economic situation remains a constant challenge and we will continue to seek operating cost improvements where possible but will also seek to accelerate income generation by greater targeted fundraising activities. We will continue to seek alternative and additional pathways to increase our funding and activities and the board wish to thank all our contributors.

The Trustees will continue to strengthen our governance, risk policies and procedures within the charity, which are based on adapting best practice throughout. These have continually refined in line with all current guidelines.

At this point I would like to thank David Pye, who is standing down as Scientific Director, his contribution to the charity cannot be underestimated and we will greatly miss his insight and input. David will help in the appointment of his successor, which we hope to settle as quickly as possible and in the meantime, we will be looking to strengthen our Independent Scientific Committee. This committee are a key part of what we do and how we recognise and award leading research into Children’s Cancer. We continue to be a member of the AMRC, which is the Association of Medical Research Charities, a membership organisation dedicated to supporting medical research charities in saving and improving lives through research and innovation. The AMRC ensures that member charities fund the best research by developing guides, providing training, and carrying out an audit of their funding processes. They unite and champion the sector, helping to drive positive change in the research

4

Report of the Trustees

KIDSCAN LIMITED

Year ended 31 July 2024

and health landscape.

We will continue to ensure that our core aims and objectives are met, if not exceeded, into the future, whilst maintaining a strong focus on operational cost control at all times.

Jeremy Lea

Chair of Kidscan Children's Cancer Research

5

KIDSCAN LIMITED

Report of the Trustees

Year ended 31 July 2024

The Trustees (who are also directors of the company for the purposes of the Companies Act) present their Annual Report together with the audited financial statements of Kidscan Limited (the Charitable Company or Charity) for the year ended 31 July 2024. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charity's governing document, and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102, effective 1 January 2019).

The trustees

The trustees who served the charity during the period were as follows:

R P Dennis D K Mosley E L McMurtry J S Lea K Perera (resigned 23[rd] February 2024) S L Thorp R S J Pawlow (appointed 29th February 2024)

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The company was incorporated by Memorandum and Articles of Association dated 31 August 2001 as amended by special resolutions dated 2 October 2002 and 3 December 2002. The company is limited by guarantee and has no share capital.

Legal status

The company is registered as a charity under the Charities Act 2011 and its registered number with the Charity Commission is 1094946.

Organisation

The charity is managed by a board of trustees who are also directors of the company. Trustees are appointed for a period of five years after which they must be re-elected at the annual general meeting. Potential new trustees are identified by the members of the board based on their skills and standing within the community.

The trustees meet on a monthly basis to discuss and approve fundraising and expenditure. The day-to-day running of the charity is split between the Head of Operations and the Scientific Director (Science) ensuring that the team continues to develop its skills and working practices in line with best practise.

A Scientific Committee reports directly to the board of trustees. The membership of this committee is chosen from recognised experts in cancer research from both the UK and internationally. The scientific committee makes recommendations to the board based on medical/scientific need and the quality of the proposed work.

Trustee induction and training

All trustees receive advice and information on their roles in the organisation and administration of the charity. The Charity Commission Guide for trustees is provided to each member.

Related parties

The work of Kidscan is part of an international drive to provide new and improved treatments for children with cancer. Kidscan is represented on a number of national and international bodies through the membership of the

6

Report of the Trustees

KIDSCAN LIMITED

Year ended 31 July 2024

Scientific Director.

Risk management and financial controls

The board of trustees has considered the risks to which the charity may be exposed. Fundraising strategy is developed and monitored by the trustees at the board meetings. Expenditure is allocated by the trustees at the Board meetings. Any external risk to the funding of the research is covered by the diversity of the activities applied to the fundraising. Internally, tight controls are applied to the administrative side of the operation to ensure cost effectiveness and compliance with procedures across all aspects of the charity. The charity benefits from the use of the financial procedures of the University of Salford. The University makes no charge for these. In addition, the University provides, free of charge, office space for the charity.

OBJECTIVES AND ACTIVITIES

Aims and objectives of the charity

The aims of the charity are to promote and support research into the causes, prevention, treatment and cure of cancer in children and in furtherance of that primary object to provide information and raise public understanding of such matters. The charity pursues these objectives by providing funding to carry out these research objectives in the form of grants.

Gifts in kind and seconded staff

Kidscan continues to work from premises given rent free by the University of Salford. Kidscan also receives support from the University’s finance department, in the form of systems and manpower. The fair value of this is not readily available, so it has not been included in the accounts.

Results

The results for the year, and the charity's financial position at the end of the year are shown in the attached financial statements.

ACHIEVEMENTS AND PERFORMANCE

Scientific Directors Report

Childhood malignancy remains the leading cause of disease related death in children and young adults. Children with many types of cancer have seen huge improvement in survival rates over the last 40 years. Acute Lymphocytic Leukaemia, the most common children’s cancer known, has a 5-year survival rate of around 92% up from 50% in the 1970s. However, despite improvements in treatment some rarer types of children’s cancer have seen little or no improvement in survival rates, with a number still classed as untreatable. One of the biggest issues faced by survivors of childhood cancer remains late effects of treatment, due to the harmful nature of many traditional treatment routes for children.

Late effects of treatment leave many former patients with long-lasting physical vulnerabilities, like the risk of heart disease, development of secondary cancers, lack of fertility, and gradual loss of mobility. Certainly, childhood cancers can bring opportunities for psychological growth, but some long-term survivors also live with learning disabilities and other neuropsychological long-term side effects such as post-traumatic stress disorder. These in turn impact on relationships, employment opportunities, and overall wellbeing. At long last there is now a more profound acknowledgement and understanding of the harmful late side-effects that the survivors of childhood cancer face as they move on with their lives. These late effects are a direct result of the damage caused by conventional radiotherapy and chemotherapy that ultimately takes their toll on the rapidly developing child.

There have been great advancements in the treatment of adult cancer, but this has not always been the case for

7

KIDSCAN LIMITED

Report of the Trustees

Year ended 31 July 2024

children and young adults. Kidscan is striving to change this, and to offer children and families the best treatments possible to enable them to survive and thrive.

Key Milestones (2023-24)

During the financial year 2023-24, Kidscan is still involved with a PhD studentship, jointly funded with Northwest Cancer Research and additional research projects, conducted by undergraduate placement students. The overall activity in research was lower than we hoped for and one of the key targets for 2024/5 is to secure additional funding and increase the research profile that the charity is actively involved in. This commitment of funds towards research continues to be the highest priority for the charity looks to improve and accelerate its fundraising mechanisms and priorities, but we are still awarding new grants and meeting the commitments to older grants that are still active.

Despite the continuing challenges in the UK charity fundraising environment post pandemic; Kidscan remains committed to providing financial support to its researchers, via peer reviewed grants and we have the potential of several new Grant Schemes that we will be looking to secure in the 2024-25 financial year. Overall, there is much to look forward to in the Kidscan research environment as we continue to build momentum back to research post pandemic levels and beyond.

This is the last Scientific report I will be providing as I now stand down as Scientific Director, I will be aiding the charity to find an exceptional replacement for me and in their efforts to strengthen and grow the Scientific Advisory Committee.

Fundraising Summary 23/24

Despite the ongoing cost of living crisis, KidsCan Children's Cancer Research has maintained steady fundraising efforts for vital research projects and unrestricted use. While traditional charity support has shifted, we've adapted our strategies to ensure continued success.

Key Achievements and Initiatives Tin Collections:

Trusts and Foundations

We experienced a decrease in grant applications while the KidsCan Connect platform was being developed due to time and resource constraints. This issue is now being addressed, with applications currently being

8

KIDSCAN LIMITED

Report of the Trustees

Year ended 31 July 2024

submitted. However, a lack of scientific direction has hampered our fund applications for research, which needs to be addressed in 2025. The KidsCan Connect platform opens many new doors for funding while our scientific direction is being organised.

Looking Ahead

We are confident that our combined efforts and adaptive strategies will continue to make a significant impact in the fight against cancer. By embracing new technologies, diversifying our fundraising approaches, and leveraging our strong community support, we are well-positioned to face future challenges and maintain our vital research programmes. The integration of our digital platform will further enhance our ability to engage with families and drive future fundraising success.

Financial Review

Investment Powers and Restrictions

The directors have powers to expend the funds of the charity in such manner as they shall consider most beneficial for the achievement of the objects, and to invest in the name of the charity such part of the funds as they may see fit, and to direct the sale or transposition of any such investments and to expend the proceeds of any such sale in furtherance of the objects of the company.

Reserves policy

£60,000 of unrestricted funds held by the charity would allow the operation to continue for at least six months in the event of there being a drop in revenue from current activities. The balance on unrestricted funds is currently above this level.

Statement of Financial Activities

The cost of living crisis continued to have an impact on the fundraising activities in 2023/24. The effect of this in 2023/24 is a reduction in income of £152,662 or 48%. The spend on charitable activities in 22/23 is £22k (£13k less than the previous year), after a few difficult years the charity has been unable to fund as much research as it would like.

The overall result for the year is Net Income of £6k. This has resulted in an increase in the carried forward funds balance and this now stands at a balance of £195k of which £90k is restricted. The outstanding grant commitment value at the year-end was £48k; £14k of which is due to be paid in more than one year.

Plans for Future Periods (2024/25)

Research Funding

This year, research funding faced a significant setback due to the lack of scientific direction on new projects. We hope to appoint a new Scientific Director by Christmas, with a view to applying for new research funds in the New Year. We plan to secure further research funding through partnerships with corporate sponsors. Our commitment to supporting innovative research will remain a cornerstone of our mission, enabling us to contribute to the development of kinder treatments for childhood cancer.

Trusts and Foundations

We recognise the need to enhance our efforts in securing funding from trusts and foundations in 2025. Our Ambassador Programme and our new digital platform, KidsCan Connect, open many new doors for funding whilst our scientific direction is being organised.

Ambassador Programme

The KidsCan Ambassador Programme continues to thrive, with increased opportunities for engagement and support. This year, we hosted 15 events for around 45 families, and we plan to extend our reach in 2025. We will focus on enhancing our programme of events and activities for ambassadors, encouraging greater involvement from families. We also aim to recruit new ambassadors and provide additional resources and training, empowering them to share their stories and support others in similar situations.

9

KIDSCAN LIMITED

Report of the Trustees

Year ended 31 July 2024

Digital Strategy

We are excited to announce the continued rollout of our digital strategy and the further development of our support and resource platform, KidsCan Connect. Launched in Phase 1 through corporate funds, the platform aims to profoundly impact individuals affected by childhood cancer across the United Kingdom. We are currently seeking funds for Phase 2 of KidsCan Connect, which will unlock numerous digital innovation opportunities. Collaborating with a commercialisation manager will help us strategically manage the development and deployment of this platform.

Our target audience encompasses children battling cancer, their parents, and educators. This transformative digital strategy will enable us to reach approximately 1,600 children diagnosed each year, providing ongoing support throughout their journey. The platform will facilitate regular support groups, creating safe spaces for sharing experiences and fostering community connections. Educators will benefit from exclusive resources designed to help children balance education with cancer treatment.

As we implement our digital strategy on a national level, we anticipate a substantial increase in our impact, reaching new groups in need of support. While we cannot provide an exact figure at this stage, it is clear that our outreach will significantly exceed our current reach.

Corporate Partnerships

In 2024, we successfully brought on board two large corporate sponsors, set to deliver significant amounts of funding. With the launch of our new website, enhanced assets, and a digital proposal initiative, we are now positioned to reach out to many more potential sponsors. This refreshed brand and offering will enable us to secure additional funds and partners for 2025, further supporting our mission to improve the lives of families affected by childhood cancer.

Small company provisions

This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

Registered office: Alumni House Acton Square Salford M5 4NY

Signed by order of the trustees E McMurtry Company Secretary

Approved by the trustees on 27/11/2024

10

KIDSCAN LIMITED

Statement of Trustees' Responsibilities

Year ended 31 July 2024

The trustees (who are also the directors of Kidscan Limited for the purposes of company law) 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 law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

11

KIDSCAN LIMITED

Independent Auditors' Report to the Members of Kidscan Limited

Year ended 31 July 2024

Opinion

We have audited the financial statements of Kidscan Limited for the year ended 31 July 2024 on pages 16 – 27 which comprise of the Statement of Financial Activities, Balance Sheet, 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” (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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 about the charitable company’s ability to continue as a going concern for a period of at least twelve months from the date 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.

12

KIDSCAN LIMITED

Independent Auditors' Report to the Members of Kidscan Limited

Year ended 31 July 2024

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. 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.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 10, 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 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 charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

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.

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

13

KIDSCAN LIMITED

Independent Auditors' Report to the Members of Kidscan Limited

Year ended 31 July 2024

irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following:

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:

(i) The presentation of the charitable company’s Statement of Financial Activities, (ii) the charitable company’s accounting policy for revenue recognition (iii) the overstatement of salary and other costs, and (iv) the understatement of creditors. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the charitable company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Charities Act, the Charities (Accounts and Reports) Regulations 2008 and the Statement of Recommended Practice - 'Accounting and Reporting by Charities' issued by the joint SORP making body.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charitable company’s ability to operate or to avoid a material penalty. The key laws and regulations we considered in this context included employment law, health and safety at work, GDPR, and the UK Companies Act and Charities SORP.

14

KIDSCAN LIMITED

Independent Auditors' Report to the Members of Kidscan Limited

Year ended 31 July 2024

Audit response to risks identified

In addition to the above, our procedures to respond to risks identified included the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’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 charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s 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 and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

MUbCLARILE Clre-Le suoOTA,

Alison Buckley Mitchell Charlesworth (Audit) Limited Accountants Statutory Auditor 3[rd] Floor 44 Peter Street Manchester M2 5GP

03 December 2024

Mitchell Charlesworth (Audit) Limited is eligible to act as auditor in terms of section 1212 of the Companies Act 2006 .

15

KIDSCAN LIMITED

Statement of Financial Activities (including income and expenditure account) Year ended 31 July 2024

Unrestricted
Funds
Note
£
Income from:
Donations and legacies4
46,719
Income from trading
activities
5
50,031
Grants received
-
Investment income
6
4,453
Total income
101,203
Expenditure on:
Raising funds
7
81,241
Charitable activities
8
9,149
Total expenditure
90,390
Net
income/(expenditure)
10,813
Reconciliation of
funds:
Total funds brought
forward
67,538
Transfer of funds
22,500
Total funds carried
forward
100,851		 Restricted
Funds
£
40,421
-
-
-
40,421
37,102
13,192
50,294
(9,873)
122,168
(22,500)
89,795		 Total
Funds
2024
Unrestricted
Funds
Restricted
Funds
Total Funds
2023
£
£
£
£
87,140
128,229
115,643
243,872
50,031
49,148
-
49,148
-
-
-
-
4,453
1,265
-
1,265


141,624
178,642
115,643
294,285


118,343
179,733
17,120
196,853
22,341
11,244
23,979
35,223


140,684
190,977
41,099
232,076


940
(12,335)
74,544
62,209
189,706
79,873
47,624
127,497
-
-
-
-


190,646
67,538
122,168
189,706

The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

Included in the expenditure above is the unwinding of the USS pension deficit provision which reduces expenditure by £31,737 (2023: £NIL).

16

KIDSCAN LIMITED

Balance Sheet

31 July 2024

2024 2023
Note £ £
Current assets:
Stocks 12 - 1,983
Debtors 13 10,461 16,786
Cash at bank 224,885 230,697
Total current assets 235,346 249,466
Liabilities:
Creditors: falling due within one year 14 (44,700) (28,023)
Net current assets 190,646 221,443
Provisions
USS pension scheme deficit recovery
plan - (31,737)
Net assets 190,646 189,706
The funds of the charity:
Unrestricted income funds 16 100,851 67,538
Restricted income funds 16 89,795 122,168
Total funds 190,646 189,706

For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies but as this company is a charity, it is subject to audit under the Charities Act 2011.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The notes on pages 19 - 27 form part of these accounts.

Signed:

Name: Jeremy Lea Chair of trustees on behalf of the trustees

Approved by the trustees on: 27/11/2024

Company Number: 04279954

17

KIDSCAN LIMITED

Statement of Cash Flows

31 July 2024

Note
Cash expended in operating activities
18
Cash flows from investing activities
Interest income
Decrease in cash and cash equivalents
for the year
Cash and cash equivalents at the
beginning of the year
Total cash and cash equivalents at the
end of the year		 2024
£
(10,265)
4,453
(5,812)
230,697
224,885
 2023
£
(40,390)
1,265
(39,125)
269,822
230,697

As the only cash and cash equivalents at both year-ends is cash at bank and in hand no net debt reconciliation has been considered necessary.

18

KIDSCAN LIMITED

Notes to the Financial Statements

Year Ended 31 July 2024

Company information

Kidscan Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Alumni House, Acton Square, Salford M5 4NY.

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charities SORP (FRS 102)), and in accordance with the Financial reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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

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

Going concern

At the time of approving the financial statements the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Income received in advance of a fundraising event or provision of other specified service is deferred until the criteria for income recognition are met.

19

KIDSCAN LIMITED

Notes to the Financial Statements

Year Ended 31 July 2024

Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general time of the Volunteers is not recognised.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work.

Expenditure and irrecoverable VAT

Expenditure is recognised once there is a 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 is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Allocation of support costs

These costs have been allocated between the various activities within the cost of raising funds. The bases on which the costs have been allocated are set out in note 7.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight-line basis over the period of the lease.

Stock

Stock is included at the lower of cost or net realisable value after making due allowance for obsolete stock.

20

KIDSCAN LIMITED

Notes to the Financial Statements

Year Ended 31 July 2024

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 trade discounts due.

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.

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.

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

Pensions

During the year three members of staff were members of the Universities Superannuation Scheme (USS). This is a defined benefit scheme which is contracted out of the State Second Pension (S2P), externally funded and subject to periodic actuarial valuations. The assets of the scheme are held in a separate trustee-administered fund.

The scheme is a defined benefit scheme, but the employer is unable to identify its share of the underlying assets and liabilities (see below for availability of overall funding position of the scheme) and therefore accounts for contributions to the scheme as if it were a defined contribution scheme as permitted by FRS102 ‘Retirement benefits.’

The 2023 valuation was the sixth and latest fully signed off valuation for the scheme under the schemespecific funding regime introduced by the Pensions Act 2004, which requires schemes to adopt a statutory funding objective, which is to have sufficient and appropriate assets to cover their technical provisions. At the valuation date, the value of the assets of the scheme was £73.1 billion and the value of the scheme’s technical provisions was £65.7 billion indicating a surplus of £7.4 billion and a funding ratio of 111%. The employee contribution rate from 1 January 2024 was 6.1%.

The rate of employer contributions for the period was 14.5% (2023: 21.6%) of the gross pay of the staff in respect of USS. The total cost of company contributions for the year to the scheme was £4,895 (2023: £9,508).

The key financial assumptions used in the 2023 valuation is set out in the Statement of Funding Principles. (https://www.uss. co.uk/about-us/valuation-and-funding/statement-offunding-principles).

21

Notes to the Financial Statements

KIDSCAN LIMITED

Year Ended 31 July 2024

2. Judgements and key sources of estimation uncertainty

In order to calculate the USS pension provision, the trustees estimate the current year discount rate, and the pensionable payroll growth. These estimates are reviewed each year. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3. Legal status of the charity

The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per trustee of the charity.

4.
Income
from
donations
and
legacies
Unrestricted
funds
£
Restricted
funds
£
Gifts
46,719
40,421
46,719
40,421		 Total
funds
2024
£
Unrestricted
funds
£
Restricted
funds
£
87,140
128,229
115,643
87,140
128,229
115,643		 Total
funds
2023
£
243,872
243,872

Income of £40,421 (2023: £115,643) was received for restricted purposes.

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

Income from other trading activities
Events
Street/Stadium collections
Placed collection tins		 2024
£
10,513
762
38,756
50,031		 2023
£
5,221
2,714
41,213
49,148

5. Income from other trading activities

6. Investment income

The charity’s investment income of £4,453 (2023: £1,265) arises from money held in interest bearing deposit accounts and treasury deposits.

22

KIDSCAN LIMITED

Notes to the Financial Statements

Year Ended 31 July 2024

7. Raising Funds

23

Notes to the Financial Statements

KIDSCAN LIMITED

Year Ended 31 July 2024

8. Charitable activities
Unrestricted
funds
£
Restricted
funds
£
Research grants
-
13,192
Governance costs
9,149
-

9,149
13,192		 Total
funds
2024
£
Unrestricted
funds
£
13,192
(5,016)
9,149
16,260
22,341
11,244		 Restricted
funds
£
23,979
-

23,979		 Total
funds
2023
£
18,963
16,260
35,223

Expenditure of £13,192 (2023: £23,979) was paid from the restricted funds to fund research grants.

Governance cost analysis:
Costs directly allocated to activities:
Basis of
allocation
Staff costs
Direct
Audit fee
Direct
Recruitment fees
Direct
Interest
Direct
Support costs allocated to activities:
Insurance
Staff costs
Consultants
Staff Costs
General office costs
Staff costs
Marketing & publicity
Staff costs
Software/website
Staff costs
Total expenditure
9.
Analysis of staff costs, trustee remuneration and expenses
Salaries and wages
Social security costs
Pension costs
Pension deficit plan provision
Redundancy costs		 Total
2024
£
714
2,090
-
1,752
62
3,323
578
406
224

9,149

2024
£
41,943
-
4,895
(33,489)
-

13,349
 Total
2023
£
1,990
2,677
10,176
949
31
-
317
51
69
16,260
2023
£
120,599
9,024
9,508
2,127
2,855
144,113

No employees had employee benefits in excess of £60,000 (2023: no employees). Pension costs are allocated to activities in proportion to the related staffing costs incurred and are wholly charged to unrestricted funds.

24

Notes to the Financial Statements

KIDSCAN LIMITED

Year Ended 31 July 2024

9. Analysis of staff costs, trustee remuneration and expenses (continued)

The charity trustees were not paid and did not receive any other benefits from employment with the charity in the year (2023: £Nil). No trustees were reimbursed for travel expenses during the year (2023: £Nil). No charity trustee received payment for professional or other services supplied to the charity (2023: £Nil).

Social security costs includes an HMRC refund of £2,555 (2023: £979)

10. Staff numbers

The average number of administration staff in the charity was as

follows: 2024 2023
Headcount 3 6
Full time equivalent 1.9 4.2

11. Corporation tax

Chapter 3 part 11 of Corporation Taxes Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

12.
Stock
Promotional merchandise
Clothing
13.
Debtors
Prepayments and accrued income
14.
Creditors: amounts falling due within one year
Other creditors
Accruals
Deferred income		 2024
£
-
-

-

2024
£
10,461

10,461

2024
£
37,068
6,613
1,019

44,700
 2023
£
1,577
406
1,983
2023
£
16,786
16,786
2023
£
13,953
13,400
670
28,023

25

KIDSCAN LIMITED

Notes to the Financial Statements

Year Ended 31 July 2024

14. Creditors: amounts falling due within one year (continued)

Deferred income: 2024 2023
£ £
Deferred income as at 1 August 670 1,236
Released from previous year (670) (1,236)
Income deferred in year 1,019
 670
Deferred income as at 31 July 1,019 670

At the balance sheet date, the charity was holding funds received in advance in respect of events taking place later in 2024/25.

15. Commitments 2024 2023
£ £
At the reporting end date the company had commitments in respect of
grants payable as follows:
Within one year 33,600 36,712
After one year 14,427
 25,000
48,027 61,712

16. Analysis of Charitable Funds

The £89,795 Restricted Funds (2023: £122,169) are all held within the net assets of the charity as cash balances.

26

KIDSCAN LIMITED

Notes to the Financial Statements

Year Ended 31 July 2024

16. Analysis of charitable funds (continued)

Name of restricted fund description, nature and purposes of the fund

Gracie's Goal

The Grand Trust

To fund children’s cancer research grants

To Fund research projects

Student Placements

Pump Priming Grants

Core Costs

Ambassador Programme

To fund student placement grants from various trusts and foundations To fund pump priming grants from various trusts and foundations To fund specific core costs from various trusts and foundations To fund ambassador activity from various trusts and foundations

PhD Research To Fund research projects EducationProgramme To fund activity in relation to the education of children’s cancer Booths Charity To fund salaries to enable fundraising activities AVIVA To fund activities in relation to education and helping cancer survivors into employment

17. Related party transactions

There were no related party transactions in 2024 (2023: £Nil).

Office space and certain facilities are provided by the University of Salford to the charity. No charge is made for these, and no charge was made in the prior year.

18. Reconciliation of net movement in funds to net cash flow from operating expenses

Net movement in funds
(Decrease)/Increase in provisions
Deduct interest income shown in investing activities
Decrease/(increase) in stock
Decrease/(increase) in debtors
(Decrease)/Increase in creditors
Net cash generated in operating activities		 2024
£
940
(31,737)
(4,453)
1,983
6,325
16,677

(10,265)
 2023
£
62,209
3,076
(1,265)
462
1,829
(106,701)
(40,390)

27