Charity R8gistration No. 1096491 (England and Wales)
Charity Registration No. SC044013 (Scotland)
Company Registration No. 04597114 (England and Wales)
Ellen MacArthur Cancer Trust
Annual Report and Financial Ststements
For the year ended 30 November 2024

ELLEN MACARTHUR CANCER TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
CONTENTS
Page
Report of the Chair of Trustees
Trustees. report
Independent auditorfs report
9-12
Statement of financial activitss
13
Summary of income and expenditure account
14
Balance Sheet
15
ststement of cash flows
16
Notés to the ftnancial ststements
17-33
Legal and administrative infonnation

ELLEN MACARTHUR CANCER TRUST
REPORT OF THE CHAIR OF TRUSTEES
FOR THE YEAR ENDED 30 NOVEMBER 2024
We enter the final 12 months of our current thre&year business plan on track to achieve most of the ambitions we set
ourselves in 2023..
In 2024. we supported mor8 young people in one summer than ever before - 671 across first-time four-day sailing
trips, retum outdoor and sailing adventures, and our unique Irtps for siblings of young people we have support8d after
canw.
This was against the backdrop of one of the toughest financial and fundraising environments any of us, Nvho have
been involved in the tharity sector for a long time. can remember.
Achieving growth
While it's always incredible to be supporting more young people year-on-year, growth for the Ellen MacArthur Cancer
Trusl can never just be al)out numbers.
In the past 12 months. there hav8 also been some pivotal advancements in the support VR are offering, increasing
our impact and consolidating our position as sector leaders in the post-treatrnent support space.
Our partnership with specialist youth menlal health charity, Mind Over Cancer. has gone from strength-ttrstrength.
Following a SUC￿$s￿J] pilot in 2023124. this year we have 23 young people involved in Mind Over Cancerfs online
mental wellbeing support programme. These sessions rln outside of the trip season and provide a Spa￿ for young
people to conlinue conversations from their trip and get the tools in place to Ioc4k after their mental wellbein9.
We have continued to invest in training and developing our volunteers and, in October, ran our first ever RYA Watch
Leader course, and we now have more than 160 volunteers trained as Youth Mental Health First Aiders.
As well as giving volunteers the chance to gain new skills and experiences. benefitting their Cvs and supporting
education and career ambitions, the new Watch L8ader programme also enables the volunteers to support our sailing
trips as Mates, which has a hyo-fold benefit.
Firstly, having volunteers with a broad range of skills is key to having a positive impact on Y￿n9 people. Volunteers
with sailing skills 8re integral to keeping young people safe, and being able to offer this course means we can develop
those skills for existing volunteers vh)0 already understand our tsips and young people.
Secondly. as we start training Mates in-house. rn(￿e opp)rtunities Jhqll open for new volunteers to support our trips as
Crew Leaders, bringing increasingty diverse and different skj'lls and experiences to our volunteer pool.
Follewing the publicaiton of a new State of the System report in June 2024 - research we had partnered with Young
Lives vs Cancer. Teenage Can￿r Trust and Children's Cancer and Leukaemia Group (CCLG) to commission - we
are grateful to now be part of a Collective Impact Initialive. which aims to apply'systems thinking- to address the gaps
and challenges unearthed through the report.
Led by Young Lives vs CarKer. this group will work to educate, influence. and involve stakeholder5 from every point
of a young person's can￿r joumey. to cata]yse changes within the system to enhance the long-term wellbeing of
children and young people with Can￿r, and their families.
2024125 forecast
For the finanaal year 2024125 we have set a budget that aims to get us back to as close to a breakeven position as
possible.
Over the past few years, we agreed a5 a Board to make a planned deficit and to manag8 down our reserves from
almosl 12 months expenditure in 2021r22 to Jusl over six months in this financial year.
But this is only sensible and sustainable for so long. For 2024125 we have forecAst income of £1.79m and expenditure
of £1.88m. a small deficit of £90.000 made up of a one-off £30,000 fundraising investment on top ofr depreciation of
£60,000.
This represents vthat we believe is the most accurate forecast for income and gro￿ in young people numbers. in
line with operational delivery capacity and recruitment, as we aim to support over 725 young people and siblings in

ELLEN MACARTHUR CANCER TRUST
REPORT OF THE CHAIR OF TRUSTEES
FOR THE YEAR ENDED 30 NOVEMBER 2024
2025. Inevitably, the challenges in raising funds affected decisi￿$ we h&18 made about the number of trip5 we oxn
run and spaces we can offer in 2025.
At the lime of writing, there is a retum trtp waiting list of 80 young peoplè. for whom we do not have a space this year.
This is the first time in our history we have not been able to accomm(yJate everyone who wants to come back for a
retum trip.
Happily, this is still fewer young people than the initi'al 2025 waiti'ng list, thanks to the generosity of Ocean Yolrth Trust
South. a partn8r sail training organisation, that has offered to fund a trip for our young people this summer at nominal
cost to us.
But it undersco￿5 how the pressure we are experiencing of increasing costs due to inflation, particularty on food. fuel,
and transport, coupled with the squeeze on income. is having a real-time impact on the level of support we can offer.
The whole team are working to tighuy control expenditure. but not to the detriment of our trip experience, and the
fundraising team are focused on building our pipeline by income stream. It is not easy bui there is a clear plan, which,
over the next 12 months, will hopefully see us retum to a more sustainable financial position while also supporting the
most young people in our 22-year history.
2023124 accounts
Last year we were grateful to receive a donation lo purchase a new yacht to add to our three-vessel fleet. Through
the generosity of a gentleman who was an ardent sailor and who enthusiastically supported the Ellen MacArthur
Cancer Trust over many years, we are absolutely delighted to be the reapient of the newly-built and Sp￿lalIY adapted
46ft yacht Kalooki. Kalooki was officially handed over to us in January 2025.
As a result, this set of accounts indudes the £255.769 donation for Kalooki. irueasing our overall income to
£1,901.242 and turning a £238,436 deficit into £17,333 Surplus. V*Jhile the accounts show an increase in our asset
value, tt)ey should read as having made a deficit of £238.436 in term5 of underlying performance, which is in line with
our Board strategy of making a planned defictt in this financial year.
We are looknng forward to seeing Kalooki on the water for the first time in 2025. Because of her size and bespoke
adaptations, she will make a real difference to both the number of young people we can support and the accessibility
of our trips.
Our Board
It continues to be a huge privi18ge to work with such a supp(Yiive gr(yJp of Trustees on the Board. We were sad to
say far8W811 to our friend and colleague. Joe Bumie. after nine years as Treasurer and were delighted to welcome
Michelle Cutuer and Jane Ross as our new Trustee with lagal expertise and Treasurer respecb'vely.
I would like to extend my thanks to Joe for his incredible support and contribution over the past decade and am thrilled
Mi¢hell@ and Jane are already starting to mak8 th￿r mark with the ideas and accountsbility they are bringing. Their
addition also means we now have a 60.'40 femalelmale split on the Board, something we are very proud of as we
continue to improve our Board diversity.
December 2025 marks the start of our next business cyde to take us to 2030 and work is well underway on identi￿"n9
the key ambitions for that penod.
The Board is lookin9 forward to scrutinising and challenging these plans to ensure we can conlinue to have as big an
impact as possible on as many young people as possib]e over the next five years and beyond.
'Please find an update on our 202>25 Ambitions on page 5 of this report.
Dr Dave Hobin (Chalr of Trnsteesl

ELLEN MACARTHUR CANCER TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024
The Ellen MacArthur Cancer Trust Infomiatlon
The Ellen MacArthur Cancer Trust is incorporated as a company limited by guarantee and is regislered in England
and Wales with the registered number 04597114. The Trust is registered with the Charity Commission with the
registered number 1096491. and the Office of the Scottish Charity Regulator (OSCR) wtth the registered number
SC044013.
Objects
The objects of ihe Ellen MaG4rthur Canw Trust are:
to alleviate the suffering and pr(Nnote the well-being of children and young persons suffering from cancer,
leukaemia, or other serious illness by providing facilities for sailirvJ trips. sailing holidays and other similar
activities-, and
to promote such other purposes being exdusively chatitable as the Trustees may from time to time
detennine.
Objectlves and Acuvltles
For many young people. simply picking up from where they left off before cancerjust isn't possible. So, when treatment
ends our work begins. The Ellen MacArthur Cancer Trust takes young people sailing and on ouldoor adventures to
inspire them to believe in a brtghter future. living through and beyond Can￿r.
The difference we make - Public Benefft
In setting the Ellen MacArthur Cancer Trust's objectives and planning its annual activities. the Trustees give care￿1
consideration to the Charity Commission's general gUIdan￿ on public benefft.
Each day an average of 12 children and ywng peO￿e in the UK leam they have cancer (CRUK, 2023) - statistics
show almost 84°h of children and 87% of young people will survive but many be left wtth lon*term psychological.
physical, and social effeth.
Research shows that 90% of young people in recovery from cancer feel isolated and over 60% are worried about the
impact on their education or future employment. The impact of treatment on families and communits'es is significant
and the lon*temi socit>economic consequences to society are cosuy.
There is growing reccNJnition that providing support for young people to help them Iransition befvrfeen treatment and
'normal' life can significanly improve mental and physical wellbeing, happiness and the Ihrough life, societal
contribution of young people and their families and communities.
The Ellen MacArthur CancerTrust provides this siJpport- using saifing, advenlure. and social interaction as an enabler
of change. helping young people to re-engage with life after cancer treatrnent. improving mental wellbeing and helping
them to cope with the impacts of long-temi treatment so Ihey can live fulfilling lives.
The Ellen MacArthur CancerTrusfs impact is signiffi￿nI. improving education. employment, and societal engagement
for the young person and in turn improvtng the wellbeing of their farnilie5.
We use an independently verified tool - the Short Warwick-Edinburgh Mental We]Ibeing Sca18 - to measure and
8vidence the impact of our trips on young people's mental wellbeing. This tool is used across a range of settings.
including healthcare, education, and community seltings with people aged 14+
A set of seven questions are automali(2lly sent to every young person taking part in a trip, two weeks before they go
on their trip. immediately after the trip arKI ihree months later. The results of these questionnaires are available to
view on a live. real-time dashboard on our webstte at ellenmacarthurcancertrust.oWmpact. The data can be filtered
in different y￿y$ to see the change made for different groups.
The results from our first two years, data cleady show Iheir eyperience with us achieves a positive change for a young
person's w811b8ing. with 73% of young people experiencing an wnprovemenL

ELLEN MACARTHUR CANCER TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
Organlsallonal Structure
The Ellen MacArthur CancerTrustwas estsblished by its Memorandum and Artides of Association and is incorporated
as a company limited by guarantee.
The Board
The Ellen MaG4rthur Cancer Trust has a Boar(1 of Trustees, with day-to4ay management delegated to the CEO and
Leadership Team. The Trustees are appointed following an open recruttment process. The Trust undertakes induction
and training to their role as Trustees, which follows the Charity Commission guidelines. Trustees seNe for a period
of threé years and are eligible for re-elecbon. Dr David Hobin and Ms Jo Grindley We￿ ￿leCt￿ during the year.
The group of 10 Trustees includes a parent of a young person supported by the Ellen MacArthur Can￿r Trust after
treatment, two Board members who accessed the Trust's semces as young people, a paediatrtc oncology consultant,
an accountant, a lawyer, and experts in fundraising and risk managemerrt investments, all of whom bring a broad
spectrum of kno￿edge and experienc8 to the Board. Trustees. indemnity insurance was in place throughout the
period.
Th8 Board has four committee5 vthich make recommendations to the Board. Their temis of reference are summarised
below..
HR and Personnel CommFttee
The HR and Personnel Commrttee fo￿Se$ on the charity's staff tsam and recommends to the Board the pay and
remuneration of the Trust's key management Personnel using appropriate benchmarking data and industry guidan￿.
The committee liaises with the Chief Executive Officer as to the salaries etc. of the other employ8és. Ramuneration
is agreed annually in Nov8mber.
Governance Commlttee
The G0Veman￿ Commtttee focuses on the charitys Policies and Procedures, its Codes of Conduct. and Data
Proteth"on R8gulations.
Investment and Flnance Commlttee
The Investment and Finan￿ Committee focuses on finanoal and operational performance and procedures, the Ellen
MacArthur Cancer Trust annual plans and budgets. and its investments and reseNes.
Equality, Div8rsity & Inclusion Committee
The Equality. Diversty & Indusion Committee have responsibility for guiding the strategic development of Equality,
Diversity and Inclusion within the charity.
The Charity Governance Code
Th8 Board of Trustees strives to adhere to the seven principles contained ¥￿thin the Charity Govemance Code for
larger dlartbes.
The Board of Trustees contains irKJividuals with a mix of skill sets. we openly recruit all new Trustees to encourage
as a wide a set of applications as possible.
We currently have three Trustees MrtK) have served for longer than nine years. The Board takes into account the need
for progressive refreshing of the Board on the r￿ppOIntMent of all Trustees.
The Trustees liaise regulaty and meet at least four times a year. GNen our size it is not considered proportionate for
there to be a three yearly exiemal review of the Board. However. in 2022 the Board und8rtook a review using The
Governance App and we continue to Use the results to improve the govemance of the charity.

ELLEN MACARTHUR CANCER TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
Fundralslng Code
The Ellen MaGqrthur Can￿r Trust is regISte￿d with the Fundraising Regulator. and we use the Regulators. Code to
guide our fundraising. Atl our fundraising is undertaken by in-house fundraisers employed directly by the charity or
our volunteers and we do not use any third parties to ￿TKIraIse on our behalf. We have a mixed porttolio of fundraising
activity" however, we do not undertake door to door or street fundraising and do not undertake any clothes collections.
We have received no complaints about our fundraising in this financial year. Staff and volunteers receive training on
treating people fairfy and with respect and how to explain the differen￿ we make in a ￿aY which does not mislead
people, as well as being sensitive to people who may b8 in vulnerable circumstances.
Etnployo8S
The Ellen MacArthur Cancer Trust has 21 full-time and 3 part-time ern￿oYeeS (2023 - 18 full-time and 3 part-time)
and also employs seasonal Operations Assistants in the summer. Our yacht skippers are employed on a freelan
basis.
Volunteers
The Ellen MacArthur Cancer Trust Telies on the support of 250 volunteers (2023 - 200+) without whom we could not
continue to inspire young people to believe in a btighter fvture living through and beyond Can￿r. The vast rnajority of
our volunleers assist on our trips as medical volunteers, first mates or crew and group leaders giving up 4 or 5 days
of their time to do so. We are also supported by volunteers helping with accompanying young people as they travel
to the trips and those who assist with fundraising events.
Ri8k8 and Uncertalntles
The Trustees 6valuate and consider the impact of identifiable risks on the charity and have policies in plac8 to
minimise these. The health and safety of lh8 young people on the Ellen MacArthur CancerTrusfs trips is of the utmost
importance and is reflected in the chaTity's procedures and poliaes. The Twstees review the risk register regularly.
Bigger Impart Brlghter Futures - Our Ambitions for 2023 - 2025
The financtal year 2023124 was the second of our three-year 'Bigger Impact. Brighter Futures - Our Ambitions for
2023-25. strategy. This aims to make us even more accessible and indusive to all young people with a Gancer
diagnosis in the UK and ensure every youn9 person experiences belonging and improved mental wellbeing with the
Ellen MaG4rthur Can¢er Trust. As we enter the final year, we are making excellent progres5 against these Ambltions
as SUFnmarised belo￿.
Build belonging - we published our Equity, Diversty, Indusivity and Belonging (EDIB) Plan- the bedrock to create
true belonging for everyone involved wilh us - and our Racism and Idents"ty DIs￿lMInation Policy and Reporting
PrO￿s, so anyone can repor( and we can invesb'gate. incidents. The team also completed fomal EDIB training.
Go further- we're now in the second year of out￿f-seaS0n free mentsl wellbeing support sessions delivered through
Mind Over Cancer. with twice as many applirations for year t4VO {32 v 16).
Drive impa¢t- our impact dashboard is becoming increasingty embedded in our work in temis of collecting young
person responses, reporting for funderslpartners and building a robust data set to help infomi fvrture d8cisions. A Net
Promoter Score (NPS) measure introduced this year found 80% of young people would recommend our trips to a
friend (overall NPS score 75).
Keep the maglc - with a renewed focus on makTng volunteertng as equilable and open as possible, 108 new
volunteers joined our team for the 2024 season. including 54 new medics, while 160+ volunteers and skippers have
trained as Mental Health First Aiders to better support young people.

ELLEN MACARTHUR CANCER TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
Ask questlons-we've continued to focus on addressing the gender imbalanc8 amongst our skippers while our EDIB
P18n outlines recruitment best practice for volunteers, skippers and Youth Advisory Group.
Thlnk planet- we've remained comrnitted to protect the environment. promote sustainability and minimise our carbon
footprint, evidenced through consrious deCi￿On making around purchasing, resourcing and everyday actions. In year
three we will seek funding for extemal support to progress this Ambition.
DIVe￿Ify Income- we've focused on increasing Trust and Foundations IT&F) applic8tions, induding adding another
T&F fundraiser to the team, and growing our High Net Worth Individual network, while development of a new mid-
value Giving Club and lega¢y programme are underway.
Grow loyalty - our fundraising team undertook speciafised training on building supporter journeys and supporter
experience alongside developing our data and ￿ lab'onship management Systems to support this. Successful 'see it
yourself donorfftjnder sailing days were introduced too.
Talk difference- our impact continued to be ai heart of our communications to connect with and attract young people
to come sailing and inspire Feople to support us.
Financial Review and results for the year
The Statemant of Financial Activities (SOFA) sets out the results for the Ellen MaG4rthur Cancer Trust for the year.
Income
This year, incom8 incr8ased by 130A to £1.901,242 {2023 - increased by 17% to £1.687.363). Excluding the donation
for Kalooki, income this year remained stable.
The charity has a balanced portfolio of income principally from five sources: Grant making trusts, individual donations,
rporale support, events, and communty events.
The Board of Trustees V￿Uld like to thank the charity's supporters. volunteer5. fundraisers, and colleagues for their
continued commitment that has made this possible. THANK YOU.
T&F grants account for around 54% of annual income from 45+ (xganisations (2023 - 560h of annual income from
38+ organisations) induding a substantial annual grant from the players of People's Postcode Lottery. in addition to
grants from many charitable organisations including Mich*1 Cowan Foundation and EBM Charitsble Trust.
Substantial support is also re￿iVed from individual donations from members of the public accounting for 27% of
annual income (2023 - 31%). All figures for 2024 exdude the donats'on for Kalooki to provide a representativa view
of the underlying portfolio of income forlhe Ellen MacArtlwr Cancer TtusL
Expendlture
The costs of supporting young people living through and beyond cancer was £1.524,939 (76% of total spend) in 2024
(2023 - £1.442,431 _ 790/0 of total spend).
Summary
The Trust incurred a surplus of income over expendriure of £17,333 (2023 deficit of £(137.624)} on combined funds.
and a defirAt of £29,384 on unrestricted funds {2023- £{128,858)).
The cash position shows a balance of £303,566 (2023 £502,800).
Net assets of the Ellen MacArthur Cancer Trust in unrestricted funds amounted £1,823,672 at the year-end (2023 -
£1,853,056). The expendable endowment funds are stated at £729.324 at the yearend (2023 - £698,587).

ELLEN MACARTHUR CANCER TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
Reserrfes Pollcy
The charity makes no charge for its services. receives tK) Statutory fuTrJing. and has no trading income. It is entirely
reliant on voluntary donations to fijnd its life-changing trips, ensuring that it is able to uphold the long-temi
commitments it promises the young people it supports.
As a dynamK organisation retying entirely on voluntary income. the Trustees, objective is to hold adequate resetves
so that the Ellen MacArthur Cancer Trust can react to challenging economic times, unexpected events, or unforeseen
opportunities to further enhan￿ its support for young people living through and beyond cancer.
The Trustees regularly review and discus5 the level of reserves, f(Yecasts of secure and potential income, and
committed and forecasted expenditure to ensuré that the Trust can fulfil all its commitments for the year ahead.
For 2024. this revi￿ indicated income levels would be lower and expenditure levels higher than in 2023. and
accordingly reserves would be reduced. In addition. the Board has created a Designated ReseNe for Vessel
Repla￿ment and Maintenance. The amounts to be transferred will be decided by the Board on an annual basis and
it was agreed to transfer £100.000 to this Designaled Reserve at the end of the 2024 financial year.
As a result, the Twsfs general unrestricted reserves dedined in 2024 and are set oui as ft)Ilows=
General unrestricted reserves at the year-erKI are £1.723.672 (2023 - £1.853.056).
Designated Funds for Vessel Replacement and Maintenance are £1(M).000 {2023 - £nil).
Restsicied reseNes are £18.250 (2023 - £2.270).
Expendable endowment funds are £729.324 <2023 - £698.587).
Total funds are £2.571.246 (2023 - £2.553.913).
Fre8 raserves being the total reseNes availablè less those reserves whose uses are restricted or allocated lo fixed
assets. amount to £1.106,111 (2023 - £1,543,611).
This level of free reserve5 represents approximatety 60% of total expendtture (exduding depreciation) committed to
delivering all activities and support of young people in 2025. The Trustees consider this level of reserves to be
adequate. taking into acrnunt forecxsts for future income.
The Ellen MacArthur Cancer Trust is currently budgeting for a planned, smaller deficit again in 2025 as it progresses
its objective of increasing the number of young people it supports each year.
Investment Policy
The investments of £1.422.502 (202& £1.496.470} as at the yÉar*nd (see note 16) held within the charity are
invested to meet its long-term objectives. A professional Fund Manager undertakes the investment of the funds and
ensures the objectives are met and invested prudendy over the long-term for the benefit of the Trust.
The expendable endowment funds are held as fixed assets with an objective of maintaining capital whilst generating
an income stream to further the activities of the Trust in the longer term.
other funds are held in a mixtur8 of current asset investrnents and cash for the purpose of safeguarding the day-t(>
day operations of the Trust, whilst generating capital growth and income to offset lh8 effects of inflation.
Currently the investments are managed ty Cazenove Capital Management Limited. on a discretionary basis. vAth the
exception of Ihe Grinton fund. The investment performance achieved by Cazenove is measured against a composile
portfolio benchmark agreed by the Trustees. Cazenove is required to attend regular invesfment meelings with the
Trust's Investment & Finance Committee to comment on its investment strategy and perfo￿an￿.
No funds will be invested directly in companies promoling, producing (x manufaduring tobacco products.
The Trustees are satisfied wth the perfomiance of the investments over the last 12 months. with income of 3% (2023
2Yo) and unrealised gains of £133.906 (2023- unrealised gain of £3.706).

ELLEN MACARTHUR CANCER TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
Trustees, Responsibllltles
The Trustees, vtho are also the direciors of Ellen MacArthur Cancer Trust for the purpose of company law,
are responsible for preparing the Truste8s' Report and the financial statements in accordance with applicable
law and United Ffjngdom Accounting Standards (Uniied Kingdom Generalty Accepted Accounting PractiC8).
Company Law requires the Trustees to prepare financaal statements for each ffinancial year. Under company
law the Trustees must not approve the finanrial statements unless they are satisfied that they give 8 tru8 and
fair view of the state of affairs of the charitable company and of the incoming resources and application of
reSoUr￿s, induding the income and expenditure. of the charitable company for that year.
In preparing these 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 2019 (FRS 102):
make judgements and estr'mates that are reasonable and prudent"
state whether applicable UK Accounting Standards have been followed. subject to any material
departures disclosed and explained in the financia stat￿entS. and
prepare the financial staternents on the going concem basis unless it is inappropriate to presume
that the charitable company will conttnue in operalion.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable
accuracy at any ts.me the finanaal position of the charitable company and enable them to ensure that the
financial statements comply viith the Companies Act 2006, the Charities and Trustee Investment (Scotland)
Act 2DQ5 and the Charitses Accounts (Swuand) Regulations 2006 (as amended). They are also responsible
for safeguarding the assets of the charitable company and hmce for taknng reasonable steps for the
prevention and detection of fraud and other irregularities.
statement as to Dlsclosure of Inforniation to Auditors
So far as the Trustees are aware:
there is no relevant infom7ati￿ of which Ihe Twst's audttors are unaNvare: and
the Trustees have taken all necessary steps that they ought to have taken in order to make
themselves aware of all relevant audit infonnation and to establish that the auditors are aware of
that infomiation.
This report, which also meets requirements of the Directors, Report for company law purposes, has been
prepared in accordan￿ wth the speaal provisions applicable to small companies and the charites SORP
2019 {FRS102).
Approved by the Trustees and signed as authorised on their behalf by:
Dr David Hobln
Chair of Trustees
Eki M loi

ELLEN MACARTHUR CANCER TRUST
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS AND TRUSTEES OF ELLEN MACARTHUR CANCER TRUST
Opinion
We have audited the financial statements of Ellen MacArthur Can￿r Trust (the 'charitable company.) for the year
ended 30 November 2024 which comprise the statement of financial activibes, the summary income and
expenditure account. Ihe balance sheet, the statement of cash flows and the notes to the financial statements.
including a summary of significant accounting policies. The financia reporting framework Ihat has been applied in
their preparation is applicable law and United lfjngdom Accounting Standards. including Financial Reporting
standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom
Generally Accepted Accounting practi￿).
In our opinion, the financial stat8ments:
give a true and fair view of the state of Ihe charitable company's affairs as at 30 November 2024 and of its
incoming resources and application of resour￿5, including it5 income and expenditure. for the year then
have been properly prepared in accordan￿ with United lfjngdom Generally Accepted Accounting Practi￿.
and
have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and
Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charibes A(wunts (Scoiland) Regulations
20[￿ (as am8nded).
Ba51s for oplnlon
W8 conducted our audit in accordance wilh International Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditors respon&-bilities for the eudit of
the financial statements section of our report. We are independent of the charitable company in accordance with th8
ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical
Standard. and we have lulfilled our other ethTcal 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.
Concluslons relatlng to golng concem
In auditing the fina￿la1 statements. we have cOnd￿led that the trustees. use of the going concern basis of
accounting in the preparatwi of the finanaal statements is appropriate.
Based on the vffjrk we have perfomied, we have not identified any material Un￿rtainl18S relating to events or
conditions that. individualty or collectivety, may cast significant doubt on the charitable companws ability to continue
as a golng concem for a period of at least twelve months from when the financial statements are authortsed for
issue.
Our responsibilities and the responsibilities of ￿ Trustees with respect to going concem are described in the
relevant sections of this report.
Other Inforniatlon
The other infomiation comprises the infonnation irduded in the trustees, annual report other than the financial
statements and our auditoes report thereon. The Trustees are responsible for the other infomiation contained within
the 8nnual report. Our opinion on th8 financial statements does not cover the other inft>rmation and. except to the
extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our
responsibility is to read the other infomKqtion and. in doing so, consider whether the other infomiation is materially
inconsistent with the financial statements or our knowledge obtained in the course of th8 audit, or otherwise appears
to be materially misstated. If we identtfy such material inconsrstencies or apparent material misststements. we are
required to detemiine wh8ther this gives rise to a material mlsstatement in the financial statements themselves. If.
based on the work we have perfomied. we conclude that there IS a mat8rial misstatement of this other information.
we are required to report that fact.
We have nothing to report in this regard.

ELLEN MACARTHUR CANCER TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS AND TRUSTEES OF ELLEN MACARTHUR CANCER TRUST
Oplnlons on other matters prescrlbed by the Companies Act 2006
In our opinion, based on the work undertaken in the cout5e of our audrt:
the infomation given in tha trustees, report for the financial year for which the financial statements are
prepared, which includes the directors, report and the strategic report prepared for the purposes of company
law. is consistent with the financial statements" and
the strategic report and the directors. report induded within the trustees, report have been prepared in
accordance with applicable legal requirements.
Matters on which we are required to report by exceptlon
In the light of the knowledge and understanding of the charitable company and its environment obtained in the
course of the audit, we have not idenlffied material misstatements in the strategic report or the directors, report
included wtthin the trustees, report.
We have nothing to report in respect of the followng matters in relation to which the Companies Act 20Q6 and the
Charities Accounts (Scolland) Regulations 2006 (as amended) require us to report to you if, in our opinion:
adequate and proper accounting records have not been kept, or retums adequate for our audit have not been
received from branches not visited by us,. or
the financial statements are not in agreement vjith the accounting r8cords and r8tums; or
Certain disclosures of trustees, remuneralion speGified by law are not made., or
we have not received all the information arKJ explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the statement of trustees, resportsibilities. the Trustees. vtho are also the directors of the
charitab18 company for the purpose 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 intemal control as the Trustees detemiine is
necessary lo enable the preparation of financial statements that are free from material misstatement, whelher due
to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing th8 charitable
companys ability to conb.nue as a going concem, di5dosing. as applicable. mattars related to going concem and
using the going con￿rn basis of accounting unless the Trustees either intend to liquidate the charitsble company or
to cease operations, or have no realistic altemative but to do so.
Auditors responslbllltles for the audlt of the financial statements
We have been appolnted as auditor under section 44{1)(c) of the Charities and Trustee Investment (Scotland) Act
2005 and under the Companies Act 20Cé and report in accordance with ihe Acts and relevant regulations made or
having effect thereunder.
Our objectives are to obtain reasonable assuran￿ about ￿thether the financial statements as a whole are free from
mat8ri81 misstatement, whether due to fraud or error. and to ISSU8 an auditorfs report that indudes our opinion.
Reasonable assurance is a high level of assuran￿ but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will a￿ayS detect a material misstatement when rt exists. Misstatements can arisè from fraud or
e￿Or and are considered material if. indiwdually or in the aggregate, they could reasonably be expected to influen
the economic deasions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial ststements is located on the Financial
Reporting Council's website at: vthw.frc.org.uklaud1tc￿SresPQnsiblllties. description forms part of our auditor's
report.
Irregularities, induding fraud, are instsnces of nonwcompliance with laws and regulations. We design procedures in
line with our responsibilities, oullined above, to detect material misstatemenls in respect of irregulariti"8s, including
fraud. The extent to which our procedures are capable of detecting I￿egularities, Indudlng fraud Is detailed below:
10-

ELLEN MACARTHUR CANCER TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS AND TRUSTEES OF ELLEN MACARTHUR CANCER TRUST
Explanatlon as to what extent the audlt was considered capable of dotscting irregularities. including fraud
The obj8ctiv8s of our audit in respect of fraud. are; to identify and assess the risks of material misstatement of the
financtal statements due to fraud., to obtain sufficient appropriate audit evidence regarding the assessed risks of
material misstatement due to fraud, through designing and implementing appropriate responses to those assessed
risks-, and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the
primary responsibility for the prevention and detection of fraud rests with both management and those charged with
govemance of the charitable company.
Our approach was as follows:
The engagement partner selected staff for Ihe audit who had prior knowledge of the client and who had the
required competence and skills to be able to identrfy or recognise non-compliance wtth lav￿ and
regulations.
We assessed the risk of itregularities as part of our audit planning. and ongoing review, induding those
due to fraud, management override identified as a significant fraud risk. This is due to the ability to
bypass controls through inappropriate expenditure and accounting policies adopted.
Some income received is restricted in its use and a significant risk V*BS identified regarding the correct
classification of incom8 beiween restricted and unrestricted funds and that the expenditure against this
income was in line with any specffied restridions.
Revenue recognition was also identified as part of ow audit planning as a significant risk to Ihe audtt.
Although the processing and recording of transactions is straight forward, there is the risk that revenue
might not be recognised within Ihe correct accounting period.
We obtained an understanding of the legal and regulalory requirements applicable lo the charity and we
considered the most significant lo be Charites Act 2011. the Charity SORP. the Charities and Trustee
Investment (Scotland) Act 2005. Charities Accounts {ScoUand) regulations 2006. UK finanaal reporting
standards as issued by the Financial Reporting Council and UK Taxation legislation. We considered how
the charitable company comFrfies with these requirements by discussions with management and those
charged with governan￿.
We inquired of management and those charged with governance as to any known InStan￿S of non-
compliance or suspected non-complian￿ v￿th laws and regulations. Consid8ration was also made of the
internal controls in place to miti.gate Ihe identified risks.
We assessed the control environment, documenting the systems. controls and prO￿sseS adopted. The
audit approach incorporated a combination of controls where appropriate. ana]￿l¢al review and
substanlive procedurès irwolving tests of transaclions and balances. Any irregularities Mted were
discussed with management and additional corroborative eviden￿ was obtained as required.
To address the risk of fraud through management override we..
perfonned analytical pr4xedures to identify any unusua or UneX[￿ted relationships:
tested joumal entries to identity any unusual transactions"
tested items of expenditure to ensure that they were valid and appropriate;
assessed whether judgements and assumptions made in detennining the accounting estimates were
indicative of potential bias. in particular in respect of residual valu8s: and
revtewed the disdosures wilhin ihe financial statements to ensure they me8t the fequirernents of the
accounting standards and relevant legislation.
In response to the classification of income between restricted and unrestricted we:
agreed a sample of income recorded in the nominal ledger to source dOcum￿tation to ensure any
restrictions were correctly identified.
tested a sample of expenditure to ensure that they had been allocated to Ihe appropriate fund:
confirmed expenses and payroll Costs allocated against restricted funds met the purpose for which the
inGome was given" and
reviewed the dients analysis of restricted funds ft)r any obvious misaljocations of income or expenditurè.
11

ELLEN MACARTHUR CANCER TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS AND TRUSTEES OF ELLEN MACARTHUR CANCER TRUST
In response to the rtsk of irregularities ￿ryth regards to recognition of income we:
vouched a sample of donab'ons and grants received in the year to supporting documentation.,
vouched a sample of donations and grants received around the balance sheet date to agree income has
been included within the corTect accounting period;
reviewed documentstion relating to legacies, ensure none were omitted from the accounts., and
revi8wed supporting documentation for income deferr￿ in the period.
Use of our report
This report is made solely to the charitable companrfs members, as a body, in accordance wth Chapter 3 of Part 16
of Ihe Companies Act 2006 and to the regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our
audit work has been undertaken so that V￿ might state to the charitable companys members and trustees those
matters we are required to stste to them in an auditorfs report and for no other purpose. To the frjllest extent
permttted by law, we do not accept or assume responsibTlity to aryone other than the charitable company, the
charitable companvs memberE as a body,and the charitable company's trustees as a body, for our audit work, for
this report, or for Ihe opinions we have fomied.
-oUL QR) '
Danlelle Grlffin (Senl¢r Statutory Audltor)
for and on behalf of Moore (South) LLP
10
20
Chartered Aecountants
Statutory Auditor
Suiie 3. Second Floor
Fnary Court
1 &21 High Street
Guildford
Surr8y
GU13DG
12-

ELLEN MACARTHUR CANCER TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 NOVEMBER 2024
Unrestrictsd Restricted Endowment
funds
funds
funds
Total
2024
Total
2023
Income and endowments from:
Donations and legacies
Other trading activitie5 -
fundraising events
Investrnents
other income
1.406,563
444,253
1.850,816 1.839.322
10.061
17.523
10,061
40,365
9,063
32.478
6,500
22,842
Total ineomè and endowments
1,434,147
444.253
22.842
1,901.242
1.687.363
endlture on:
Raising funds
476.747
1,366
478,113
371.328
Charitable activities
other
1.352.435
14.763
172.504
1.524.939 1,442,431
14.763
14.934
11
Total resources expended
1.843.945
172.504
2.017,815 1,828,693
Net gains on investments
14
102.583
31.343
133,906
3,706
Net (outgoing)fincoming
resources before transfers
(307,235)
271.749
52.819
17.333
(137.624)
Gross Iransfers between funds
277.851
(255.789)
(22.082)
Net movement in funds
(29,384)
15,980
30.737
17,333
(137.624)
Fund balances at 1 December
2023
1.853.056
2,270
698,587 2.553.913 2,691,537
Fund balances at 30 November
2024
1.823,672
18,250
729,324 2.571.246 2,553,913
The statement of financial acttvities indudes all gains arKI tosses rec(y3nised in the year. All income and
expenditur8 d8rive from continuing aCtI￿￿tieS.
-13-

ELLEN MACARTHUR CANCER TRUST
SUMMARY INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 NOVEMBER 2024
All income funds
2024
2023
Gross income
Gains on investments
Transfer from endowment funds
1.878.400
102,563
22,082
1,652,536
23,322
21,101
Totsl income in the reporting period
2,003,045
1,696,959
Total expenditure from income funds
2,016,449
1.827,346
Net exp8nditur6 for the year
(13,404)
{130,387)
14-

ELLEN MACARTHUR CANCER TRUST
BALANCE SHEET
AS AT30 NOVEMBER 2024
2024
2023
Notes
Fixed assets
Tangible assets
Investments
15
16
617.561
729.324
309,445
698,587
1.346,885
1.008.032
Current assets
Debtors
Investments
Cash at bank and in hand
18
16
352,918
693,178
303,566
385.203
797,883
502,800
1,349,662
1,685.886
Creditora: amounts falling due within
one year
19
(125.301)
{140.005)
Net current assets
1.224.361
1.545.881
Totsl assets less current Ilabllitl•s
2,571,246
2.553,913
Capital funds
Expendable endowment funds
729.324
698,587
Income funds
Restricted funds
Unresiricted funds
Designated funds
General unrestricted funds
20
18.250
2,270
21
100.000
1.723.672
1.853.056
1.823.672
1.853,056
2.571.246
2,553.913
These financial statements have been prepared in accordance with the provisions applicatAe to companies subject
to the small companies regime.
The finanaal stat
ments were approved by the Tfttstees on ..... .........
sJMRoss
Trustee
Company Regtstratlon No. 04597114
15-

ELLEN MACARTHUR CANCER TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 NOVEMBER 2024
2024
2023
Notss
Cash flov￿ from operatlng activlties
Cash absorbad by operations
(99,617)
(217,708)
Investlng actlvltles
Purchase of tangible fixed assets
Proceeds from disposal of tsngible fixed
assets
Purchase of investments
Proceeds from disposal of investments
Investment income received
(342.821)
6.501
(12,481)
104,515
32.478
202,817
40,365
Net cash (used inygenerated from
investing activities
(99,639)
131,013
Net cash used In flnanclng activities
Net decrease in cash and cash equlvalents
(199,256>
(86,695)
Cash and cash equivalents at beginning of year
505,685
592,380
Ca$h and cash equivalents at end of year
306,429
505,685
Relating to:
Cash at bank and in hand
Short teTh deposits induded in current asset
investrnents
303,566
502.800
2,863
2,885
16-

ELLEN MACARTHUR CANCER TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
Accounting policies
Charity information
Ellen MacArthur Cancer Trust is 8 private (x)mpany limited by guarantee incorporated in England and Wales.
The regislered Offi￿ is Units 5>57. East Cowes Martna. Off Britannla Way. East Cowes. Isle of Wight, P032
6DG. In the event of winding up. the members agree to contribute a sum towards settling its liabilities nol
exceeding £1 each.
1.1 Accounting convention
The financial slalements have been prepared in accordance viith the charitable companls Articles of
Association. the Companies Act 2006. the Charities and Trustee Investment (Scotland) Act 2005. the
Charibes Accounts (Scouand) Regulations 2006 (as amen(led}. FRS 102 Yhe Finanaal Reporting Standard
applicable in the UK and Republic of Ireland. fFRS 102°) and the Charities SORP "Accounting and Reporting
by Charities.. SLgtem8nt of Recommended Practice applicable to charities prepaling their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)"
(effective 1 January 2019). The charitable company is a Public Benefit Entity as defined by FRS 102.
The financial stalements are prepared in sterling, which is the functional currency of the charitable company.
Monetary amounts in these fjnancial statements are rounde(I to the nearest £.
The financial statements have been prepared under Ihe historical cost convention, other than the revaluation
of investments which is at market value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements. the Trustees have a reasonable expectation that the
charitable company has adequate resources to continue in operational existence for the foreseeable futur6.
Thus, in the absence of any material uncertainties, Ihe Trustees continue to adopt the going concem basis of
accounting in preparing the financial ststements.
1.3 Charitable funds
Unrestricled funds are available for use at lh8 discretion of the Trustees in furtherance of their charitable
obJ8CtNes.
Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific
purposes. The purposes and uses of the designated funds are set out in the noles to the financial statements.
Restricted funds are Subject to specific conditi.ons by donors or grantors as to how they may be used. The
purposes and uses of the restficted fiJnd5 are set out in the rK•tes to the financial statements.
Endowment funds are SUbj￿t to sp8cific conditions by donors that the capital must be maintained by the
charitable company. Expendable Endowments pennit the Charity to spend the capital sum on 5Uttable capilal
projects with the pemiission of the donor. ITKome arising on the endowment fjjnds can be used in accordance
with the objects of the charity and is transferred to the general funds. Any capital gains or losses arising on
the investmenls fo￿ part of the fund. Inveslment management charges and legal advice relating to the fund
are charged against the relevant fund. The purpose and use of eath expendable endowment fund is set out in
the notes to the financial statements.
1A Income
Income is recognised when the charitable company is legally entitled to it after any perfomiance conditions
have been met, the amounts can be measured reliably. and it is probable Ihat income will be re￿iVed.
Cash donations are recognised on receipt. Other dOnatiOr￿ are recognised once the charitable comp8ny has
been notified of the donalion. unless perf0rfflan￿ conditions require deferral of the amount. Income tax
recoverable in relation to d￿atiOnS ￿ceiVed under Gift Aid or deeds of ￿)venant is recognised at thè time of
the donation.
17-

ELLEN MACARTHUR CANCER TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
Accountlng pollcies
(Continued)
Legacies are recognised as receivable once probate has been granted, notification has been received, and
SLrfficient infomiation is available to make a realistic assessment of the value cf the charitable compan￿$
entitlement. Residuary legacies are subj&t to further redu¢bon to refl8Ct the impact on the valuation of
unrealised estate assets of subsequent movements in property and investment markets.
Income eamed from fundraising events and trading activities to raise funds for the charity are recognis8d
when entitlement has occuffed.
Income from Govemment and other grants are recogni5ed at fair value when the charity has entitiement after
any perfon￿an￿ condth'ons have been met, it is probable that Ihe income will be rec8lV8d and the amount
can be measured reliably. If entitlement is not met then these amounts are deferred.
Investment income is eamed Ihrough holding assets for investment purposes such as shares. bonds and cash
deposits. It inctudes dividends and interest.
1.5 Expendfture
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a
third party, it is probable that a transfer of economic beneffts will be required in setdement, and the amount of
the obligation can be measured reliably.
Expenditure is dassified by activity. The costs of each activty are made up of the total of direct costs and
shared costs. including support costs involved in undertaking each activty. Direct costs attributable to a single
activty are allocated diredy to that activity. Shared costs which contribute to more than one activity and
support costs which are not atth'bulable lo a single activity are apportioned befvrfeen those activities on a basis
consistent wth the use of resources. Central staff costs are allocated on the basis of b.me spent, and
depreciation charges are allocated on the portion of the asseys use.
All expenditure 15 accounted for on an accruals basis arKI has been classified under headings that aggregate
all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to
mak8 payments to third parties. it is probable that the settlement will be required, and the amount of the
obligation Can be measured reliably. It is categorised under the following headings:
Costs of raising funds includes details of the costs in relation to fundraising events. following up
donations, and seeknng voluntary contributions and donations from supporters, and available scurces;
Expenditure on charitable activits'es includes the costs of the charity's work wth young people, sailing
trips and other ￿sidential activittes indudir¥J all planning activib'es, maintenance of the ChariVs
assets, preparation and follow up., and
Other expenditure represents those items not fallirKJ into the categories atK>Ve.
4•
Irreccverable VAT is charged as an expense agairtst the actiwty for which expenditure aros8.
Support costs are those that a55iSt the work of the charity. but do not diredly represent charitable activits'es
and include office costs, govemance costs. administrattve and payroll costs. Database developments and
cornmunications cosls are deemed a support function, allocaled equally bebween charitable activitie5 and
fundraising, to reflect the work wtth young people including recruitment, and raising funds.
Support functions are incurTed direcily in support of expenditure on the objects of the charity and include
project management carried out at the Charity's main bases 8t Cowes, and Largs. Where support costs
cannot be directly attributed to particular headings. they have been allocated to cost of raising funds and
expenditure on charitable acliviti'es on a basis consistent with use of the resources. Premises and other
overheads have been aiocated on a basis relating to use and the proportion of staff time incurred on thr)se
matters.
18-

ELLEN MACARTHUR CANCER TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
Accounting pollcles
{Continued)
1.6 Tanglble flxed assets
Individual fixed assets costing £1,500 or more are capiUised. Tangible fixed assets are initially measured at
cost and subsequently measured at cost or valuation, net of depreciation and any impaFrment losses. Assets
in the course of constructy'on are not dep￿lated until brought into use.
Depreciation (s recognised so as to ￿TIle off the cost or valuation of assets less their residual values over their
useful lives on the fdlowing bases:
Sailino craft
Improvements to leasehold property
equipment
Motor vehicles
Sailing equipment and fi*(ure and fittings
8 years
Lrfe of the lease
2 to 5 years
8 years
3 years
The gain or loss arising on the disposal of an asset is detemiined as the differen￿ between the Sale proceeds
and the carying value of the asse( and is recognised in the statement of financial activities.
1.7 FAxed asset Investments
Fixed and Current asset inveslments are initialty measured at Iransaciion ￿lee exduding transaction costs.
and are subsequently measured at mid market value at the end of each period. Chang8s in value are
recognised in net incomel(8xpe￿l1IUre) for the year. Transaction costs are expensed as incurred.
1.8 Impalrment of flxed assets
At each reporting end date, the charitable company reviews the carying amounts of its tangible assets to
determine whether Ihere is any indication that those assets have suffered an impaimient loss. If any such
indication exists. the recoverable amount of the asset is eslimated in order to detemiine Iha extent of the
impainnent loss (if any).
1.9 Cash and cash equivalents
Cash and Gash equivalents indude cash in hand, deposits held at call with banks, other short-temi liquid
investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
Any changes in value in the year are recognised in nel irKomel{expenditure}.
1.10 Flnanclal Instruments
The charitable company has elected to apply the provisions of Sectton 11 'Basic Financial Instruments. and
Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the thatitable companys balance sheet when the charitable company
becomes paty to the contractual proifjsions of instrumenl.
Financial assets and liabilities are offset, with the net amounts pres8nt8d in Ihe financial statements, when
there is a legally errforceable right to set off the recognised amounts and there is an intention to setue on a net
basis or to realise the asset and settle Ihe liability simultaneously.
Baslc financial assets
Basic financial assets, which indude debtors and cash and bank balances. are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective
interest method unless the arrangement constitutes a finan￿n9 transaction, where the transaction is
measured at the present value of ihe future re￿Ipts discounted at a market rate of interest. Financial ass8ts
classified as receivable witlin one year ar8 not amortised.
19-

ELLEN MACARTHUR CANCER TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
Accounting policies
(Contlnued)
Basic financial liabilities
Basic financial liabilities, induding creditors arKI bank loans are initially recognised at transaction price unless
the arrangement constitLrtes a financing transaction, where the debt instrument is measured at the present
value of the future payments discounted at a market rnte of interest. Finanaa liabilities dassified as payable
within one year a￿ not amortised.
Debt instruments are subsequently carried at amortised cos( using the effectÈve interest rate method.
Trade creditors are obligations to pay for goods or servi￿$ that have been acquired in the ordinary course ol
operations from suppliers. Amounts payable are dassified as current liabilities rf payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade cr8ditors are recognised initially
transaction price and subs8quently measured at amorti5ed Gost using the effective interest method.
Derecognltlon of financial liabilities
Financial liabiltlies ar8 der8cognised when the charilable company's contractual obligations expire or are
discharged or cancelled.
1.11 Leases
Rentals payable under operating leases. induding any lease incentives received, are charged as an expense
on a straight line basis over the temi of the relevant lease.
1.12 Pension costs
Staff and pension costs are ￿Cognised as incurred with all associated costs. The retirement benefits for
specific employees of the Trust are provided by a money purchase scheme wilh Scottish Equitable. The
Trust's obligation is restricted to their contributions.
1.13 Taxatlon
The charity is an exempt charity within the meanirg of sthedule 3 of the CharÈties Act 2011 and is considered
to pass the tests set oui in Paragraph 1 Schedule 6 Finance Act 2010 and therefore li meets the definition of
charitable company for UK corporation tax purposes.
1.14 Donated facilitles, goods and seNlces
Donated facilities, goods and professional s8rvices are recognised in income at their fair valu8 when th8ir
economic benefit is probable, they can be measured reliably, and the charity has control over the items. Fair
value is detennined on the basis of the value of the gift to the charity. For example. the amount the charity
would be willing to pay in the open market for such facli ities, goods and servitss. A corresponding amount is
cognised in expenditure.
No amount is induded in the financial statements for volunteer time in line wtth the SORP 2019 (FRS 102).
Further detail is given in the Trusle8s' knnual Report.
Crftlcal a¢counting estlmates and Judgements
In the application of the charitable compary's accounting policies, the Trustees are requir8d to make
judgements, estimates and assumpb'ons about the carrying amount of assets and liabilities that are not readily
apparent from other sources. The estimates and afAooated assumptions are based on historical experience
and other factors that are considered to be relevant. Actual results may (tiffer from these estimates.
The estimates and underfying assumpts'ons are reviewed on an ongoing basis. Revisions to accounling
estimates are recognised in the period in which the estimate is revised where the revision affects onty that
period, or In the period of the revisi￿ and flrture periods where the revision affects both current and future
periods.

ELLEN MACARTHUR CANCER TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
Critical accounting estimates and judgements
(Continued)
Kay Sources of estimation uncertainty
Resldual value of salllng craft
Management consider the restdual value of the sailing craft annually. they utilise their own experien￿ and
also seek guidan￿ from experts in the field. The sailing craft are then d8preciated over 8 years to the
deemed residual value. This should have thè impacl of reflectiro the use af the assel and reducing significant
gains and losses on disposal of assets.
Donations and legacles
Unrestrlcted Restrictsd Endowment
funds
funds
funds
Total
2024
Total
2023
Individual donations
Individual donations through
fundraising events
Corporate donations
Legacies receivable
Charities and trusts
Fundraising from festbvals
354.595
354,595
388.942
87,752
38,824
19,000
732,423
173,969
87.752
66,824
19,000
1,148.676
173,969
117.823
74.144
24.752
946,900
86,761
28,000
416.253
1.406,563
444.253
1.850.816
1.639,322
For the year ended 30 November
2023
1,487,545
139.277
12.500
1.639,322
Donations also indude gifts in kind of £44,230 (2023- £34.300) in resped of legal services. dothing, life
jacket service, prinbng and travel costs (2023 in respect of legal services. clothing, life jacket Servi￿ and
travel costs}.
Income from other trading actlvltles
Unrestrlcted Unrestricted
funds
funds
2024
2023
Fundraising events
10.061
9.063
Income from investrnents
Unrestricted Endowment
funds
funds
2024
2024
Total Unrestricted Endowmènt
funds
funds
2023
2023
Total
2024
2023
Other income
17,523
22.842
40,365
10.151
22,327
32.478
-21

ELLEN MACARTHUR CANCER TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
other income
Unrestrlcted Unrestrlcted
funds
funds
2024
2023
Net gain on disposal of tangible ffixed assets
6,500
Net movement in funds
2024
2023
The net movement in funds is stated after chargirol(crediting}:
Depreciation of owned tangible fixed assets
Lossl(profit) on disposal of tangible fixed assets
34,705
51,295
(6,500)
Raising funds
Unrestrlcted Endowment
fvnds
funds
Total
2024
Total
2023
Fundraisin
and ublici
Fundraising costs to support young people with
cancer
Staff costs
Support costs
98,660
312,968
62,053
98,660
312.968
62,053
98,287
211.747
56,849
Fundraising and publicty
473.681
473.681
366,883
Investment management
3.066
1,366
4,432
4,445
476,747
478,113
371,328
For the year ended 30 November 2023
Fundraising and publicity
Investment management
366,883
4,445
3,098
1,347
369,981
1,347
371,328

ELLEN MACARTHUR CANCER TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
Charitable activities
2024
2023
Direct costs of supporting young people with cancer
Stsff costs
Support cost recharge
736.099
579,040
209.800
711.779
539.672
190.980
1,524,939
1.442.431
Unrestricied funds
Restricted funds
1.352,435
172.504
1,301,825
140.806
1,524.939
1.442,431
10 Support costs
2024
2023 Basts of allocatlon
Depreciation
Insurance
Rent and property costs
Adrninistration and ststionery
Database and communications
Telephone. IT and compuier (xsts
Accounting
Advisory services
Bank and card charges
Other support costs
20.148
4,721
56,505
13.068
33.688
59,000
9.233
48.688
5,305
21.499
22,488 Resources expended
4.981 Resour￿ expended
54.497 Office space
10.322 Resources expended
25.711 50=50 shared cost
55.024 Resources expended
9.195 Resources expended
44,572 Resources expended
4,583 Resources expended
16.456 Resources expended
271.853
247,829
Analysed between
Fundraising
Charitable activitse5
62,053
209.800
56,849
190,980
271.853
247.829
11 Other
2024
2023
Govemance costs
Truslee liability insurance
Auditovs remuneration
1.513
13.250
1,564
13.370
14.763
14,934
-23-

ELLEN MACARTHUR CANCER TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
11 Other
(Continued)
Other costs are InCu￿ed in meeting the govemance of the charitabl8 company.
Auditols remuneration in relation to audit servi￿$ was £13,250 (2023 - £13,370) for the year and £8,425
(2023 - £8,250) for non audit services (Payroll, Systerns. Consulting. Advisory and Accounts).
12 Employees
The average monthly number of employees during the year Vds as ￿lOw.
2024
Number
2023
Number
Full time
Part time
21
18
Total
24
21
Employment costs
2024
2023
Wages and salaries
Social security costs
Other pension costs
Subcorrtractor costs
766,898
62,838
41,842
20,430
663.771
53,623
34,026
892,008
751,420
The total costs attribLrtable to the five (2023 five) Senior Management Personnel posts amounled to
£319,588 (2023 £296,146). Senior Management Personnel consists of the Chief Executive Officer,
Operations Manager Scuth. Operats"ons Manager North, Fundraising Manager and Communications Manager.
The Charity operates a defined contrsbution pension scheme and £62,526 (2023 - £53,039) was paid to th8
scheme in respect of the year. Th8 sum of £5,582 (2023 - £4.516) was owing at the year end.
The numb8r of employees vthose annual remuneration vms m¢xe than £60,0(X)
is as follows:
2024
Number
2023
Number
£80,001- £90,000
£90,001- £100,000
-24-

ELLEN MACARTHUR CANCER TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
13 Trustees
None of the Trustees {or any persons connected with them) re￿IVed any remuneration or benefits from the
charitable company during the year {2023 - Nil).
There were no expenses (2023- NID reimbursed to Trustees during the year.
Trustees. indemnity insurarts is paid by the C￿rity at a cost of £1,513 (2023 - £1.564).
During the year donalions from 6 (2023 - 5) Trustees totalled £3.646 (2023- £2,940).
14 Galns and losses on Investments
Unrestrict8d Endovfflient
funds
funds
2024
2024
Total Unrestrlcted Endowment
funds
funds
2023
2023
Total
2024
2023
Gainsl(losses) atising on:
Sale of investments
102.563
31,343
133.906
23.322
(19.616)
3,706
-25-

r CL

ELLEN MACARTHUR CANCER TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
16 Fixed asset investments
Investments
Cost or valuation
At 1 December 2023
Valuation changes
Movemenl in cash available for investment
Disposals
1.496,470
128,871
{22)
(202,81n
At 30 November 2024
1.422,502
Carrying amount
At 30 November 2024
1.422.502
At 30 November 2023
1.496,470
2024
2023
Fixed asset investment
Current asset investment
729.324
693.178
698,587
797,883
1.422,502
1,496,470
2024
2023
Investments at fair value comprise:
Global Equities
Mulli Asset Funds
Cash available for investment
518,700
900,939
2,863
5(14,550
989,035
2.885
1,422,502
1.496,470
17 Financial instruments
2024
2023
Carrying amount of flnanclal assets
Instruments measured at fail value through profit or loss
1,942,772
2.233.887
Carrylng amount of flnanclal Ilabilities
Measured at amorhsed cost
125.301
140,005
-27-

ELLEN MACARTHUR CANCER TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
18 Debtors
2024
2023
Amounts falling due withln one year.
Grant5 and donations receivable
Gift aid debtor
other debtors
Prepayments and accrued incorne
203,200
5,367
8.136
136,215
216,097
2,416
16,104
150,586
352.918
385,203
19 Creditors: amounts falllng du• within one year
2024
2023
Other taxation and social security
Trade creditors
other creditors
Accruals
15,133
80,083
8.934
21,151
16.687
92,112
11,676
19,530
125.301
140,005
20 Restricted funds
The income ￿ndS of the charity indude restricted fijnds comprising the following unexpended balances of
donations and grants held on trust for specffiG purposes:
At1
December
2023
Incomlng
resources
Resources
expended
Transfers
At30
November
2024
Southem England Trips
Northem England and Scottish
Trips
Equipment and Capital
Expenditure
Staff Salaries. Training and
Development
First Time Trips
Other Specific Trips
Kalooki
36,587
{36,587)
58,275
(58,275)
400
11.870
(12,270)
1.870
33,000
39.288
(18,935)
(36,973>
(9,464)
15,935
2,315
255.769
(255.789)
2,270
444.253
(172,504)
(255,789)
18.250
-28-

ELLEN MACARTHUR CANCER TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
20 Restricted funds
(Contlnued)
Previous year:
Incomlng
Resources
expended
Transfers
At30
November
2023
Decernber
2022
English Regions Trips
Scottish Trips
Equipment and Capital
Expenditure
Staff Salaries. Training and
Development
First rim8 Trips
Other Specific Trips
3,799
16.175
28.601
(19,974)
(28,601)
400
36.452
34.929
22.720
{34.582)
(34,929)
(22.720)
1,870
3.799
139,277
(140,806)
2.270
Southem England Trips- Trips being run from our Cowes base.
Northern England and Scottish Trips - Trips being run from our Largs base.
Equipment and capital expenditure - To suppty equipment and caiilal expenditure to aid th8 charitable
objectives.
Stsff Salaries. Training and Develowent- Monies towards the ￿$t of staff salaries, training and development
of staff members.
Core Charity Costs- Central costs for the charity.
First Time Trips (and Voyages>- Reflects donated funds towards specifically first time actiwties.
Other Specific Trips - Relects donated funds towards other activities induding siblings, canal and waterpark
trips.
Kalooki - Purchase of the vessel Kalooki.
Transfers from restricted funds to unrestricted funds An the period relate to capital spend.
-29-

ELLEN MACARTHUR CANCER TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
21 Unr8Stricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are
not subject to specific conditions by donors and grarrtorE as to how they may be used. These inc]ude
designated funds which hav8 been set aside out of unrestricted fiJnds by the trustees for specific purF)08es.
At1
December
2023
Incoming
resources
Resources
expended
Transfers
Galns and
losses
At30
November
2024
Vessel
replacement
and
maintenance
funds
General funds
100,000
1TT,851
100,000
1.723,672
1,853,056
1,434,147
(1,843,945)
102,563
1,853.056
1,434,147
(1,843,945)
277,851
102,563
1,823,672
Previous year:
At1
December
2022
Incoming Resource5
resources
expended
Transfers
Galns and
losses
At30
November
2023
General funds
1,981.914
1.513,259
(1.686.540)
21.101
23,322
1,853,056
The Trustees have created a Vessel replacement and maint8nance fund to cover future replacement and
maintenance of the yacht fleeL

TS

ELLEN MACARTHUR CANCER TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
23 Analysis of net assets between funds
Unrestricted
funds
2024
Restricted Endowment
funds
funds
2024
2024
Total
2024
At 30 November 2024:
Tangible assets
Investments
Currenl assetsl(liabilitias)
617.561
617,561
729,324
1,224,361
729,324
1.206.111
18.250
1.823,672
18,250
729,324
2,571,246
Unrestrfctsd
funds
2023
Restrfcted Endowment
funds
funds
2023
2023
Total
2023
At 30 November 2023:
Tangible assets
Investments
Current assetsl(liabilities)
309.445
309,445
698,587
1,545,881
698,S87
1,543,611
2,270
1.853,056
2,270
698,587
2,553,913
24 Operating lease commrtments
Lessee
At the reporting end date, the charitable company had outstanding commitments for future minimum lease
payments under non-cancellable operating leases. which fall due as follows.
2024
2023
￿￿thin one year
Between ￿ and five years
24,434
28,612
15,434
24.434
44,046
25 Relatèd paty transactions
Other than Trustee matt8rs disclosed in note 13. there wwe no further disclosable related paty transactions
during the year. (2023 Nil).
26 Analysis of changes in net funds
The charltable company had no material debt during the year.

ELLEN MACARTHUR CANCER TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
27 Cash generated from operatlons
2024
2023
Surplusl(deficit) for the year
17.333
(137,624)
Adjustments for.
Investment income recognised in statemenl of financial adiwties
Gain on disposal of tangible fjxed assets
{Gain)lloss on disrx)5al of investments
Depreciation and impaimient of tangible fixed assets
(40.365)
(32,478)
(6.500)
2,713
51,295
(128.871)
34.705
Movements in Y￿thng capitsl:
Decreasel(increase) in debtors
(Decrease) in creditors
(Decrease) in deferred income
32.285
(14,704)
{55.078)
{35,036)
{5,000)
Cash absorbed by operatlons
(99.617)
{217.708)

ELLEN MACARTHUR CANCER TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Ms C Amaladoss
Mr P Cazalet
Ms M Cuttler
Ms E L Francis
Ms J Grindley
Dr D Hobin
Dame E MacArthur DBE
Mr M Pluves
MsJMRoss
(Appointed 15 May 2024)
(Appointed 29 November
2024)
Mr M A Stevens
Secretsry
Mr M A Stevèns
Senior management
Mr F Fletcher
Chief executive officer
Charity number (England and Wales)
1096491
Charity number {Scotland)
SC044013
Company number
04597114
Registsred office
Unils 53-57
East Cowes Marina
Off Britannia ivay
East Cowes
Isle of Wight
P032 6DG
Auditor
Moore (South) LLP
Surie 3. Second Floor
Friary Court
1 >21 High Street
Guildford
Surrey
GU1 3DG
Bankers
Lloyds Bank PIC
30 Commercial Road
Totton
Southampton
S040 3TH
Solicitors
Payne Hicks Beach
10 New Square
Lincoln's Inn
London
WCZ4 3QG