VENDI ANCER ARE REGI RED IN ENGLAND AND WA S UNDER COMPANY NU BER SO 68 RE TERED ARITf N R 11042 DITE INANCIAL STATEMENT 13 MONTH PERIOD END TH BRUARY 2025 TINGLE ASHMORE LIMITED CHART REDA NTANTS SHEFFIELD AVENDISH CANCER CARE UNAUOITED FINAN IAL STATEMENTS FOR MONTH PERI D ENDED 28TH FEBRUARY 2025 INDEX Page Truslees, annual ￿port Independent examinerfs report Statement of financial activities and inccme and expenditure account Balance sheet 10 ststement of cash flows 11 Principal accounting policies 12-14 Notes to the financial siaternents 15-21 CAVENDISH CAN ER ARE UNAUDIT FINANCIAL STATEMENTS FOR THE 13 MONTH PERIOD ENDED 28TH FEBRUARY 2025 TRUSTEES, ANNUAL REPORT The Trustees present their annual directors, report and financial ststements of the Gharity for the 13-month period ended 28th February 2025 %thich are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The reason for the 134nontt) reporting period is that Cavendish Cancer Caie merged rts activtss with Weston Park Cancer Chanty ("WPCC') (which was effected legally through the acquisition of Cavendish Cancer Care by WPCCI on 28th February 2025 and the tnjstees detemiined that it would be prathcal for the period*nd to be moved to Ihis date to coincide with the merger. These accounts Iherefore align with that acquisition to provide a baseline financial positi'on to handover to WPCC. It is intended that, following a run- off per￿ to complete the operational transfer of activities to WPCC. Cavendish Cancer Care will close by the end of 2025. Therefore, it is inlended that these are the chaiiiis final annual accounts. As in previous years, the Trustees agreed that the 2025 financial Statements would not be subjected lo audrt, but inslead that of an independent examination by Tingle Ashfflore Limited. Whilst an independent examination is less rwJorous than an audit. the Trustses believe thai assurance over the accuracy of Ihese financial stalernents is achieved through the combined scrutsny and challenge provide(I by the Treasurer and that by Tingle Ashmore Limited, in their role as Independent Examiner. Objectlvas and activitlos The objects of the charity are the relief of sickness by Ihe provision of therapies and support of those patients, dependents and other members of the public affected by cancer and other life-lhreatening diseases, living in and around the area of Yorkshir< DeTbyshire and Nottinghamshire. The charitys objects'ves are primawity Met by the provtsion of ontrtwne assessment and therapy to individuals; we also offer a range of group classes courses. Care is provided in person at our Centre on Wilkinson Street, via the telephone and online. We also run a peer-ttrpeer supp)rt scheme, Cavendish Cancer Buddies. During the year. we additi'onalty provided wellbeing serrfices to local organisations under the brand Cavendish Wellbeing. The centre makes full use of volunteers. Volunteers work across the organisation including within Fundraising, the Finance off￿e. Reception and dient support also represent the charity extemally as appropriate. Chalrnian's Report During the year 2024125. Cavendish Cancer Care faced gr￿ryng financial and operational challenges. After bNo consecukn've yea(s of deficits. 2024r25 p￿ented another year in which our abilty to generate fundraising income could not match the amount we wanted to spend delivering our vital services to people living wilh cancer. Our Cavendish Wellbeing offer. which aimed to provide additi'onal income lo support our charitsble activities, did not grow as quickly as we had hoped. Operationally, we unfortunatety experienced a period of time without our full leadership capacty. meaning our a￿.Ity to meet the challenges we were facing was impacted. Durin9 the latter part of 2024, my Trustees and I decKled thal the best way we could continue to deltver the charitys objectives and meet our beneficiaries, needs was to seek a merger with a like-minded local charity. As Chair of the Board, l therefore approached my counterpart at Weston Path Cancer Charity, to initiate these discussions. Page 1 CAVENDISH CANCER CARE UNAUDITED FINAN IAL TATEMENTS FOR TH NTH PERIOD E TH FEBR ARY 2025 TRUSTEES. ANNUAL EP RT Following a period of due diligence in December and January. and acting on our own professional legal advKe, Cavendish Cancer Care was legalty acquired by WPCC on 28th February 2025, and all our staff were TUPE transferred to WPCC. This was a very difficult decision for the Board to take. Our insts'nct was aw to seek to p￿serve such a well-kno￿￿ charity with an excellent repulath'on in the thal community. However. given th? highty competitive fundraising environment for local charities like ours. and the increasing employment costs that were announced in the UK Govemment budget in November 2024, we We￿ always going to be faced with some kind of difficult decision. By merging wrth WPCC. we took a posrtive step to ensure th8 delivery of the Cavendish charitable objectives could live on, and be delivered by another South Yorkshire-based cancer chanty with the financial Strength to continue to meel our beneficiary need in a way that we were unable to guarantee. As part of the negotiations with the team at WPCC, rt was agreed that 'Cavendish° as a brand vnuld continue and l am de1￿hted that the therapy centre at Wilkinson street has been renamed "The Cavendish Centre". It should also be reassuring to those of us wsh to continue the ethos and character of Cavendish that four trustees have been appointed to the Board at WPCC, alongside with th8 appointment as a Cavendish trustee of Steve Wragg (Chaimwi of WPCC). My experience of working with Ihe people ai WPCC Is that our two organisats'ons share many of the same values and l am confident that Cavendish Centre activits'es wll continue and hopefully gnhv in the futufe. The merger allowed a number of trusiees to step away from the charity - Alan Spier, Gillian Coverley, Amy Hallam and Michael Tunbridgo all left at the date of the transacts"on. I would like to thank them for their outstsnding effort and support over the years. During Ihe year Emma Oraper, our ChRf Executive, informed the trustees that she wished to leave Cavendi8tt Cancer Ca￿. It is to her credit that she agreed to continue her work with Cavendish until the merger was effectively complete. Emma has had an outstanding 6 years as CEO, managing the charity through challenges such al COV11>19 and the cost-of-living crisis, whilyt developing and growing the services delivered by CCC. She left wth our whobhearted thanks and best wishes for th• future, As this is the last Chaimian's report for Cavendish Cancer Care as a separate entity, I would like to recognise the charity's achievements over three decades. It has provKled highly needed and rnuch-valued ernotional wellbeing SUPFth and cornplementary therapies to thousands of local people affected by cancer. I would like to place on record my thanks to all Ihe staff, freelan¢e pracbtioners and volunteers who have served the charity, not just in the last year, but throughout its history. I would also like to place on record my heartfelt thanks to all the donors, fundraisers. and sponsoryJ wtm) have enabled Cavendish Cancer Care to have a lasting impact on ts beneficiaries. their families, and the w￿er communty. l %K)uld also like thank and recognise the contribution made to the charty by its Trustees. today and in years 9one by. There is a huge sadness that Cavendish Cancer Care will not Continue as in indepèndent entTty but, as Chair, l tske some comfort from the knowtedge that the beneficiaries we are here io serve wlll continue to be able lo receive counselling and complementary therapy in our Cavendish Centre buikling for years into the future. Page 2 CAVENDISH AN ER ARE UNAUDITED FINANCIAL STATEMENT R THE1 NDED 28TH FEBRUARY 2025 TR STEES. ANNUAL REPORT Oporatlonal Report We spent much of 2024125 seeking to deliver four key prionties fcr the charity: Integration of support services - ensuring a seamless, person-centred experience for clients, enabling Ihem to access the right support at the right time to benefrt their immediate and long-tem wellbeing. • Exlending our raach connecting ¥￿th more people who could benefrt from our services bul aren't urrenty accessing them. • Improving facilitEs and systems - ensuring our environment and infrastructure are of the highest quality and meet the evokn.ng needs of those we support, • Sustainable growth - increasin9 our investment in service delivery in a financially responsible way. A major milestone in 2024 was the relaunch of our online plafform Cavendish@Home developed to offer a refreshed, user-friendly website hosting a growing library of therapist-18d, on-demand courses that clients can access from the comfort of their homes. Over the year. this grew to 1,400 registered users. In response to evolving needs, we piloted a new four-week 9roup therapy programme based on Acceplance and Commitment Therapy (ACT). Designed for individuals living with fear of recurrence after cancer treatment. the sessions were delivered by our specplly trained therapists. Feedback was overwhelmingly positive. Our popular Auricular Acupuncture group sessions also continued to provide valuable support for those experiencing honnonal effecls rel8t8d to cancer treatment. reinforcing our commitment to holistic, accessible ￿re. Throughout 2024, we continued to provide vital seNices at our Tim Pryor Centre, including.. Our specialist Children & Young People's Service • The Cavendish Cancer Buddies peer support programme • Outreach support across Sheffle￿'s th￿e major hospitals.. Northem General. Royal Hallamshire. and Weston Park Cancer Centre • Our North Derbyshire-based outreach service al the NGS Macmillan Cancer Information & Support Centre, Chesterfield Royal Hosprtal We remain proud of our longstanding partnership with the Universty of Sheffield, offering placements to medical students and promoting the importance of holistic, complementary care. Demand for our seNices continued to grow. In the calendar year of 2024, VR received 896 new self-referrals at the Tim Pryor Centre a 17% increase on the previous year and a 580k rise over the last years. While this gro￿ reflects the increasing recognits'on of our impact, it abo brings fresh challenges in meetin9 rising demand amid escalating operational costs. In late 2024, Y￿ began exploring a merger thfjth Weston Park Cancer Charty. a local organisation that shares our mission of providing exceptional care and support for people affected by cancer. We are proud to announce that. as of March 1st. 2025, our organisations have united to form a stronger. single charity. This rnerger marks an exciting new chapter. Together. we will expand practical support services-ensuring that therapies, counselling, and seNices for children and families not only continue but thrive. Our current home at 34 Wilkinson Street will be rebranded as The Cavendish Centre, under the umbrella of Weston Park Cancer Charity. We are very proud of all that Caverbdish Cancer Care has ach*ved over the past 30 years and k)ok forward to what lies ahead. Page 3 CAVENDISH CANCER CARE UNAUDITED FINANCIAL STATEMENT FOR THE 13 MONTH PE ENDED ARY 2025 TRUSTEES, ANN AL REPORT Tr¢asurnr's Report As noted at the beginning of the Trustees, Report, these financial ststements (which report the results ft)r the 13-month per￿ 10 28th February 2025) have not been the subject of audit, but instead an independent examination undertaken by Tingle Ashmore Limited. The Trustaes continue to take comfort over the accuracy of these financial statements from the strong and capable finance team we have at Cavendish, supplemented by the overswht and scrutiny from members of the Trustee Board. The Statement of Financial Activities and Income and Expenditufe Account shows total incoming resources for the 13 months to 28th February 2025 at £826,008 (2024: £780.066 in 12 months). In the same 13-month period our expenditure in the year was £1,012,564 (2024: £962,243 in 12 months). After a small amount of investment gains, the 2024125 account8 report net expenditure over incorne for the 13 months to 28th February 2025 of £178,798 (2024: defKit £180,157 in 12 months). Total assets at 28th February 2025 were £304,913 (31 January 2024: £483,711), of which £234,219 were free rese￿es12024'. £399,721). Given this declining financial position, and the likelihood of delivering a further substantial deficit in 2025126, the Trustees felt the most responsible course of action was to seek the merger with WPCC to enable them to continue to deliver our much-needed services to beneficiaries. R•s•rv•8 pollcy The charity policy was to hold financial reserves as a percentage of its annual income is in the form of definite and regular fundlng. Reserves provided financial protection againsl damaging events and enabled us to maintsin the quality of the service we provide. An assessment made during the autumn of 2024 was that the ￿Serv•S policy would have requlred around £330,000 of free reserves to be available on 31 st January 2025. The actual free reserves at 28th February 2025 was £234,219. Investments The Investrnent Committee comprised David Thurkettle (Trustee), Alan Spier (Trustee) and Emma Draper (Chief Executive Off￿er), supported by staff from Investec Wealth & Investment. Cavendish delegated powers of investment to professional independent fund managefs who manage the charity's investment portfolio within pre-determined parameters of asset class and risk. Our investrnent managers, Investec Wealth & Investment, managed the portfolio on a discretionary basis. The overall objectives w8re to create sufficient income and capital growth to enable ihe charity to carry out ts purposes consistently year by year. Our investrnent policy was managed on a total return basls, predicated on an approach lo risk that is low. Investment perfomJanc8 During the year 2024125, the charity's investments gained £4,824 in realised gains and a further £2,934 in unrealised gains. Page 4 CAVE DISH UN DITED FINANCIAL STAT MENT RTHE13MO TH PERIOD ENDED 28TH FEB TR 'ANN AL REPORT Principal funding wurc The principal funding sources for the charity are through fundraising actiwties (including balls, sponSo￿d events, golf day), private donations, legacies. collection l)oxes. Charitable Trusts, Corporate and 'Charity of the Year partnerships. These funds the largest part of our cor8 services and our children's seriice. A smaller proportion of our income comes from statutory trusts, which support our client seNices and medical student teaching,. and hospital charitable trusts which support our outreach projects. Risk management The Trustees assessed the major risks to which the charity it was exposed. including its long-lemi financial sustainability. and therefore opened merger discussions with WPCC. Publlc ben•fft We confirm Ihat the Trustees have complied wtth Ihe duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission. Slruclure. govemance and management Cavendish Cancer Care is a company limited by guarantee govemed by its Memorandum and Arti¢les of Association. It is registered as a charity with the Charity Commission. In the event of the chan'ty being wound up members are required to contribule an amount not exceeding £1. During June 2024. a wholly owned trading subsidiary. Cavendish Wellbein9 Ltd, was incorporated. Atl of its Directors were either Trustees or stsff members at Cavendish Cancer Care. No trading activity took place through Cavendish Wellbeing Ltd and an application to close the company vas made in May 2025. Appoinkn•nt of T￿￿tee3 During June 2024. Amy Hallam was appointed as a Trustee of Cavendish Cancer Care. Follow'ng Ihe merger wth WPCC, four Trustees ￿SIgned from the Board on 31st March 2025 and the WPCC Chair, Stephen Wragg. joined the Cavendish Cancer Care Board. There are currently five remaining Trustees who are conb'nuing on our Board until the Charity is closed dry￿. Four of our current and fomer Trustees have joined the WPCC Board. Page 5 AVENDISH CANCER CARE UNAUDITED FINANCIAL STATEMENTS FOR THE 13 MONTH PERIOD ENDED 28TH FEBRUARY 2025 TRU TEES, ANN AL REPORT Ref•renc• and admlnlstratlv• detalls Charity number 1104261 Company number 5086868 Name and registered office Cavendish Cancer 34 Wilkinson Street. Sheffield, S10 2GB Our advisors-. Independent Examiners ringle Ashmore Limited Chartered Accouniants Enterprise House. 8roadfield Court. Sheffleld, S8 OXF Bankers The Co-operative Bank PLC PO Box 250, Delf House, Southway, Skelmersdale, WN8 8WT Barclays Bank PLC Markel Place, Leice$t•r, LE87 288 Virgin Money PLC 110 Pinstone Street. sheff￿ld, S12HQ HSBC Bank PLC 49-63 Fargate. Sheffield. S12HD Nationwide Building Soc PO Box 3. 5-11 St GeNges Street, Douglas, Isle of Man, IM99 1 AS Investmeni advlsers Investec Wealth and Manag8ment Beech House. 61 Nawer St￿et. Sheffield, S118HA Directors and Trustees Mr D Grey MBE Mr D Thurkettie Mrs S Shepley Mrs A J Clarke Mrs A Hallam - Chairman - Tr?asurer - appointed 25th June 2024, reS￿ned 25th February 2025 - appointed 25th February 2025 - reS￿ned 25th February 2025 - resigned 25th February 2025 - resfjned 25th February 2025 Mr S Wragg Mr A Spier Mrs G Coverley Mr M J Tunbridge Company secretary Mr D Thurketue Mrs G Cover - appointed 25th February 2025 - resigned 25th February 2025 Founder Dr D Simons (not a director or Trustee) Chief Executive Emrna Clarke Mrs Emma Draper - appointed 1 st March 2025 - resigned 25th February 2025 Page 6 CAVENDI R CARE NAUDITED FINANCIAL STATEMENTS F RTH TH PERI ENDED 28TH FEBRUARY 2025 TR ES. ANNUAL REPORT Statement of Tru•t•e•' respon8lbllltle8 The Trustees (who are also directors of Cavendish Cancer Care 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 Accounling Standards (United Kingdom Generalty Accepted Accounting Practice). Company law reqUI￿S the Trustees to prepare financial statements for each financial period. Under company law the Tiustees must not approve the financial statements unless they are satisfied that they 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 stalements, the Truslees are required to.. select suitable accounting policies and then apply them consist8nlly' • observe the methods and principles In the Charits'es SORP 2019 (FRS 102); make judgments and estimates that are reasonable and pwdenl; prepare the financ￿1 statements on the going concern basis unless it is inappropriate to presume that the charrtable company will conb'nue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charrtable company and enable them to ensure that the financial statement8 comply with the Companies Act 2006. They are also responsible for safeguarding the assets of Ihe charrtable company and h•n¢• for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report has been prepared tskin9 advantage of the small companies èxemption of section 415A of thé Companies Act 2006. The report of the Trustees was approved by the board on ... . and signed on its behall by Mr D Thurkettle Page 7 VENDISH CANC ARE UNAUDITE FINANCIAL S AT NT FOR TH MONTH PERIOD ENOE 28TH FEBRUARY 2025 INDEPENDENT EXAMINER'S REPORTTO THE TR STEES OF CAVENDISH CANC ARE I report to the chanty Trustees on my examination of the accounts of the company for the period ended 28th February 2025 which are set out on pages 9 to 21. Responsibilities and basis of report As the charity's Trustees of the company (who are also the dirKlors of the company for the purposes of company law}, you are responsible for the prePara￿n of the accounts in accordance with the requirements of the Companies Act 20061.the 20(￿ Acr). Having satisfied myself that the accounts of the company are not required to be audited for this period under Part 16 of the 2006 Act and are eligible for independent examinats'on, I report in respect of my examinatron of your charty's accounts as carried out under section 145 of the Charilies Act 2011 ('the 2011 Act,). In carrying out my examinats'on I have follv*ed the Directions given by the Charity Commission under section 145(5){b) of the 2011 Acl. Independent examinerfs statement The company's gross income exceeded £250.000 and l am qualified to undertake the examlnat'on by boing a qualified member of The Institute of Chartered Accountants in England and Wales. I have cornpleted my examination. I confirm that no matters have come to my attention in conneclion with the examination giving me ￿U$¢ to believe Ihat in any material respecL' accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or the accounts do not accord with those records,. or the accounts do not compty with the accounb'ng requirements of section 396 01 the 2006 Act other than any requiremeni that the accounts gNe a Irue and fair vithv. which is nol a matter considered as part of an independent examinatK)n. or 4. the accounts have not been prepared in accordance the methods and principles of the Statement of Recommended Practice for accounting and reporting by charilies applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicabbe in the UK and Republic of Ireland (FRS 102). I have no concems and have come across no other matters in Connection with the examinats'on to wh￿h attention should be drawn in this report in ttder to enable a proper understanding of the accounts to be reached. Tr1%12S. Brendan Ashmore ACA Tingle Ashmore Limited Chartered Accountants Enlerprise House Broadfield Court Sheffield S8 OXF Page 8 CAVENDISH AN RCAR NA ITED FINANCI L STATEMENTS FOR THE 1 NTHP NDED 28TH FEBRUARY 2025 STATEMENT OF FINANCIAL ACTIVITIES AND IN ME xp E ACCOUNT Unrestricted funds Restricted funds Total funds Total funds Notes 13 months ended 28th Feb 2025 Year ended 31st Jan 2024 Income from: Donalions and legacies.. Charitable trusts Statutory bodies Legacies Other 49,975 38,868 31,808 299,156 74,570 124,545 38,868 31,808 299,156 103,754 35,710 15.500 253.804 Charitable activilies Therapy fees Leaming and development income 88,694 121,160 88.694 121,160 106,373 94.077 Other trading activities Fundraising events Room hire 109,924 1,695 109.924 1,695 159.581 Investment income Interest receivable DNidends 6,251 3,907 6,251 3,907 6,295 2,072 Total income 751,438 74.570 826,008 780, Expenditure on: Raising funds 166,419 166,419 187,734 Charitable activities 780,413 65,732 846,145 774,509 Total expenditure 946,832 65.732 1.012.564 962.243 Gain￿{lO$Se$) on investments Realised Unrealised 4.824 2,934 4.824 2.934 {3,5001 5,520 7,758 7.758 2.020 Net expenditure for the periodfyear (187.836) 8,838 (178,798) (180,157) Totsl funds brought forward 477,123 6,588 483.711 663.868 Total funds camed forward £289,487 £15,426 £304,913 £483.711 The Statement of Financial Activities includes all gains and losses recognised in the period. All income and expenditure derive from continuin9 activities. Page 9 AVENDISH CAN ER CARE NAUDITED FINANCIA TATEMENTS F R THE 13MONTH P RIOD ENDED TH FEBRUARY 2025 BALANCE SHE Asat 28th Feb 2025 Asat 31stJan 2024 Notes Fixed assets Tangible assets Investments 55,268 168.446 77,402 241,876 223.714 319,278 Current assets Debtors Cash at bank and on hand 55.214 73,991 90,963 109,785 129.205 200,748 Creditors - amounts tslling due wllhin one year (48,OCe) (36,315) Net current assets 81,199 184,433 Net assets £304,913 £483,711 The funds of the charity Unreslricted income funds.. General Designated 11 11 234,219 55.268 399,721 77,402 Total unrestricted funds 289,487 477,123 Restricted income funds 11 15,426 6,588 Total funds 12 £304,913 £483,711 For the per￿1 ending 28th February 2025 the charity was enlitled to exemption from audil under section 477 of the Companies Act 2006 relating lo small c (1,295) (48,4191 1159,439) 78,041 136,065 Net cash provided byl(used in) investing activiti88 39,630 (16,302) Change in cash and cash equivalents in the periodlyear (87,380) (237,259) Cash and cash equivalents at the beginning of the perlodlye 164,234 401,493 Cash and cash equivalents at the end of Ihe pericxjtyear £76.874 £164,234 Cash and cash equivalents consists of: Cash at bank and on hand Cash held as investments 73,991 2,883 109.785 54,449 £78.874 £164.234 Reconcilialion of net incomel{expenditure) to net cash flow from operakn.ng actNitie$'. Net expendiiure for the per•r (178,798) (180,157) Adjustments for. Depreciation charges Interest receivable Dividends receivable Gains on investments Decreasel(increase) in debtors Increasel{dec￿se) in credrtor3 22.284 (6,251) (3,907) (7,758) 35,749 11,691 20.603 (6,295} (2,072) (2,020) (37,639) (13,377) Net cash used in operab'ng activitse$ £(126,990) £1220,957) Page11 CAVENDISH CANCER CARE UNAUDITED FINANCIA MENTS FOR THE 1 NTH PERIO NDED TH FEBR ARY 2025 PRIN IPAL A NTING POLICIES Cavendish Cancer Care is a company limlted by guarantee wislered in England and Wales. In the event of the charity being wound up, the liabilrty in respect of the guarantee is limited to £1 per member of the chaiity. The address of the registered office is given in the charity infomiation on pag8 6 of these financial statements. These financial statements have been p￿pared under the historical cost convention and in accordance with Accountin9 and Reporting by Charities". Statement of Recommended Practic8 applicabl8 to charities preparing accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland issued in October 2019. the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011, Ihe Companies Act 2006 and UK Generalty Accepted Accounting Practlca. Cavendish Cancer Care meets the definition of a public benefit entity under FRS 102. The following is a summary of the more important ac¢ountlng policies used by the charty. Going concern The financial statements have been prepared on the going concem basis as the Trustees believe that there are no material uncertainties in this regard. Income All income Is accounted for as ￿On as the charity has entitlement to the income, there Is certainty of receipt and the amount can be measured. Income is only deferred when: • The donor specifies that the grant or donation must only be used in future accounting perlods,. or The donor has imposed conditions which must be met before the charity has uncondits'onal entitlement. Legacies Legacies are treated as income when they are received, or on a receivable basis rf notification has been received prior to Ihe period end date and it becomes capable of financial measurement prior to the authorisation for issue of the accounts. Expenditure Expenditure is recognised when a liability is incurred. Raising funds are those costs incurred in fundraising activities • Charitable activities includes those costs incurred by the charity in the delivery of its activities and seNices for its beneficiaries. Governance costs include those costs incurred in meeting the constitutional and statutory requiremenls of the charity. Page 12 NDISH CAN ER UNA DIT FINAN IAL STATEMENTS FOR THE 13 MONTH PERIOD EN 28TH FE RUARY 2025 PRIN Ip ACCOUNTING P Tangible [￿ed assets and dep￿latIOn Tangible fixed assets are stated al cosl less accumulated depreciation. Cost includes all costs directly attributsble to making the asset capable of operab'ng as intended. Individual items costing less than £1,000 are excluded. Depreciation is calculated to write down the cost of fixed assets over their expected useful lives on the following bases.. Charity fumrture and equipment strawht line basis over b8tw8en 4 and 8 years depending on the type of asset Electronic equipment, including phones. computer harthyare and software Improvements to landlords property straight line basis over 5 years straight line over the term of the lease Operating leases All leases are conS￿ered to be 'operating leases, and the relevant annual rentals are charged wholly to the Statement of Financial Activities. Employee benefits When employees have rendered servico to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that 8ervKe. The charty operates a defined contr*)ution scheme for the benefil of ts emptyes. The costs of contributions are written off to the Ststement of Financial ktivities in the period in vthich they are payable. Temiination Benefits Temination benefits are payable when employment is terniinated before the nomial retirement date. or whenever an employee accepts voluntary redundancy in exchange f