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← Clic Sargent Cancer Care For Children

2025-03-31-accounts

CLIC Sargent Cancer Care for Children trading as

Young Lives vs Cancer Annual Report and Accounts

2024/2025

CONTENTS

Purpose and our vision................................................................................3 Chair’s introduction......................................................................................4 Trustees’ report Our achievements and performance............................................................5 Our approach to safeguarding......................................................................8 Our approach to fundraising.........................................................................8 Our future plans............................................................................................9 How we do things matter............................................................................10 Risks and uncertainties...............................................................................11 Financial review and results for the year.....................................................11 Structure, governance and management....................................................17 Employees and volunteers..........................................................................19 Statement of Trustees’ responsibilities........................................................20 Independent auditor’s report ....................................................................21 Financial statements* Consolidated statement of financial activities...............................................26 Balance sheets.............................................................................................28 Consolidated cash flow statement................................................................29 Notes to the accounts...................................................................................30 Reference and administrative details............................................................54

*The Trustees’ Report incorporates the Strategic Report (see pages 5–20).

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PURPOSE

Our aims as set out in the objects contained in the company’s memorandum of association are to:

While our governing document refers to purposes charitable under the law of England and Wales, in delivering services across Scotland and Northern Ireland we ensure that all activities also align with the relevant legal definitions of charitable purpose and public benefit applicable in those jurisdictions.

OUR VISION

We’re working to build a future where children and young people with cancer and their families receive care that’s tailored to them. They feel informed and in control and, along with their families, they’re able to make knowledgeable decisions about their care and their future. A future where there are no gaps in support and no barriers to access. Throughout every step of their journey, they feel empowered. They have everything they need from the beginning of their cancer experience, for as long as they need it.

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CHAIR’S INTRODUCTION

2024/25 was a year of bold progress for us as an organisation, built on a foundation of resilience and a commitment to listening to the voices of the children, young people, and families we represent. As the challenges facing those affected by childhood cancer continued to evolve, so did our determination to adapt, innovate, and lead.

This progress would not have been possible without the generosity, belief, and collaboration of our wider community. Our funders, volunteers, partners, and supporters played an essential role, not only in sustaining our income but in shaping our impact. Your contributions enabled us to reach further, respond faster, and stand stronger alongside families when it mattered most.

Families continued to experience the ripple effects of financial uncertainty, long waits for welfare support, and unequal access to care. In response, we strengthened our integrated model of support, across social work, accommodation, financial assistance, and digital services, ensuring families could access help how and when they needed it most. Our teams supported more than 6,900 children and young people this year, with our Homes from Home saving families over £1.65 million in living costs and providing more than 20,600 nights of free accommodation.

We expanded our welfare and housing support, launched a flexible bank of social workers and navigators, and modernised our accommodation model to better reflect how cancer treatment is changing. Throughout, we focused on being accessible to all, translating materials, refreshing resources for younger children, and building inclusive partnerships to reach those too often left behind.

Alongside this, we laid strong foundations for the future. Our digital and data transformation began in earnest, designed to improve service delivery, empower our teams, and unlock insights that drive improved outcomes. Internally, we embedded trauma-informed practice, listened carefully to our people, and introduced new values that better reflect who we are and who we strive to be. A standout achievement was doubling our Employer Net Promoter Score, an encouraging signal that our culture is growing stronger.

But perhaps the most significant shift came in our role as system changers. This year, we launched our new strategy, The Time is Now, and joined with sector partners to co-create a North Star vision for cancer care. We helped shape national policy, influenced the inclusion of children and young people in the new Cancer Plan for England, and led research that’s already reshaping how the sector understands and responds to children and young people’s needs.

We’re proud to be at the forefront of innovation, and in the year ahead, we’ll begin piloting partnerships that use tech for good, bringing new tools and services to the frontlines of support.

To everyone who walks alongside us - our funders, volunteers, partners, and supporters - thank you. Your steadfast commitment is the reason we can keep pushing boundaries and demanding better. Together, we’re not just responding to a broken system - we’re building a better one. And together, we move closer to a future where every child and young person with cancer receives the personalised, equitable, and empowering support they deserve. Thank you.

Sir David Haslam CBE, Chair

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HOW OUR ACTIVITIES DELIVERED PUBLIC BENEFIT IN 24/25

All our charitable activities focus on alleviating the suffering and promoting the relief, care, wellbeing and rehabilitation of children and young people afflicted with any form of cancer and their families and are undertaken to further our charitable purposes for the public benefit.

Who used and benefitted from our services

This year, we continued to grow the reach and impact of our services, making sure that children and young people with cancer, and their families, could access the support they needed, when they needed it most.

Our hospital-based social work teams supported 6,989 children and young people across the UK, a 2% increase on last year. Alongside them, our UK-wide Central Support and Social Care Team provided phone, email, and live chat support, responding to 2,533 enquiries, nearly 300 more than the previous year. This team also offered digital group work, trauma-informed social work, and practical advice, while playing a key role in providing resilience to our hospital-based social work teams wherever pressures arose.

To make our services more adaptable and consistent, we developed a new social work and navigator bank in 2024/25. This flexible staffing model allows us to respond quickly when gaps appear or when demand increases, helping us maintain continuity of care for families, even during times of change.

We’re proud to remain the UK’s only charity dedicated to supporting children and young people with cancer that provides a fully integrated support model that brings together hospital social work, financial assistance, welfare and housing advice, and free accommodation close to treatment centres. This holistic approach is a lifeline for families through treatment, end-of-life, and bereavement, and we’re continually evolving it to meet their changing needs.

Our Homes from Home continued to offer essential support this year, welcoming 577 families and providing 20,631 nights of free accommodation. Although some homes experienced reduced capacity, due to essential maintenance or changes in local NHS treatment delivery, our overall occupancy rose to 72%, up from 70% last year. The accommodation we offered helped families save an estimated £1.65 million in living costs.

In line with the changing landscape of cancer care, we introduced a new operating model and service specification for our Accommodation Service . These updates were designed to reflect developments in treatment such as ambulatory care and to future-proof the service by responding to innovations like targeted therapies, robotics, and AI. We also began rolling out a new communitybased approach at each of our Homes from Home to further strengthen local support.

Recognising the growing financial burden families face, we awarded 4,889 grants this year, totalling more than £748,000, to help cover essential costs like travel, food, and household bills. This included 1,582 hardship grants worth over £387,000, and £8,900 in grants distributed on behalf of the Smile of Arran Trust to support young people with brain cancer.

In addition to financial grants, we expanded our Benefits and Welfare Rights Service from three to five days per week. This included introducing dedicated housing support, in recognition of the

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deepening challenges faced by families navigating insecure accommodation or housing crises. By prioritising early intervention, we aimed to address the complex and often interlinked nature of financial stress and housing instability, both of which can seriously affect a family's overall welfare.

Our Welfare and Housing Support Service responded to 2,212 enquiries on topics such as benefits, housing, debt, and immigration. It's estimated that this service alone helped families save over £1 million. Through expert signposting, children and young people and their families also accessed a further £333,540 in external support from other organisations.

Ensuring equal access to our services remains a key priority. In 2024/25, we continued to develop direct referral pathways with partners including Imperial Hospital Trust and the Childhood Eye Cancer Trust (CHECT), helping to raise awareness of our services and reduce barriers to access.

We also made key strides in improving accessibility and reach . This year, we translated essential information, such as our privacy notice and accommodation induction forms, into multiple international languages. We refreshed our age-appropriate storybooks for younger children with more diverse and inclusive representation and created two new interactive guides to help children aged 5–12 understand their diagnosis and make informed decisions. Our website’s accessibility tool saw around 200 users each month, with the translation and screen reader functions among the most used, highlighting the ongoing demand for inclusive digital support.

Volunteers are an increasingly vital part of our team, and this year we expanded our services volunteer base to 24. They’ve played a crucial role in strengthening our services, enabling us to reach more families and deliver support with compassion and flexibility. We also continued to invest in our workforce, embedding trauma-informed practice, supported by a reflective practice manager, and prioritising continuous professional development for all employees.

Looking ahead, we remain committed to shaping and influencing how care is delivered across the UK. We’re aligning our work with NHS models of care, using robust data, research, and, most importantly, the voices of children and young people themselves to drive change. By listening closely and responding boldly, we aim to ensure that every young person with cancer and their family can access the personalised support they deserve.

How we’ve driven impact through partnerships, research and innovation

Working in partnership

Collaboration remains central to everything we do. This year, we worked with OUTpatients to better understand and amplify the experiences of LGBTQIA+ young people with cancer. We also joined forces with Teens Unite to co-deliver a dedicated digital support group for siblings, a group that we know is often overlooked when it comes to formal cancer support.

Our partnerships with Ellen MacArthur Trust and Teenage Cancer Trust focused on breaking down barriers to access, particularly for children and young people from underserved communities. And through our ongoing strategic relationship with Macmillan Cancer Support, we’ve improved signposting and ensured our support is embedded into Macmillan’s digital cancer needs assessments – helping us reach more children and young people, earlier in their cancer journey.

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Using evidence

We also conducted new policy research to understand the welfare barriers families face after diagnosis. Between June and October 2024, we surveyed over 300 people and carried out in-depth interviews. The findings were published in our The Cost of Waiting Report in March 2025, which is now central to our campaigning for better welfare and benefits support.

Influencing change across the UK

This year, we strengthened our voice where it matters most, at the heart of government. Ahead of the July 2024 General Election, we launched our Young Lives vs Cancer Manifesto and Supporter Toolkit. Over 2,300 people took action through our campaign, sending more than 2,200 emails to newly elected representatives.

We had a strong presence at party conferences, building vital connections with the new government, including Health Ministers. A major success was securing the commitment to a new national Cancer Plan for England, achieved through joint work with One Cancer Voice, and ensuring it includes a dedicated section for children and young people, in collaboration with CCLG. Our Voice team and Voice Board played a key role in shaping our asks and influencing outcomes.

Our impact was felt across all four nations. We submitted evidence, briefed elected representatives, and met with health and welfare officials in England, Scotland, Wales and Northern Ireland. These relationships helped drive momentum on long-running issues, including our campaign to tackle travel costs.

We continued to work in coalition to maximise our influence, through One Cancer Voice, Cancer52, and the Children and Young People’s Cancer Coalition. In 2025/26, we’ll strengthen this work even further by stepping into the role of coalition secretariat.

Research and collaboration

This year, we deepened our understanding of what children and young people with cancer and their families, really need. In partnership with CCLG, Ellen MacArthur Cancer Trust, Teenage Cancer Trust and Dartington Service Design Lab, we commissioned major new research to identify gaps in care and barriers to support. Published in June 2024, the study involved in-depth engagement with young people and families, followed by a wider sector survey focused on quality of life and the impact of diversity.

The findings have shaped our new strategy, The Time is Now, and laid the foundation for the Collective Impact Initiative - a partnership with fellow charities - to drive system-wide change. We launched the Initiative’s Steering Group in December 2024 and have already begun engaging communities and exploring solutions through open workshops. Our shared North Star Vision is guiding this long-term effort to improve care and outcomes for every young person with cancer.

Innovation for the Future

Innovation is essential to achieving our vision. This year, we laid the groundwork for our Impact Innovation programme, using assets to support the development of ‘tech for good’ ventures. These collaborations aim to create cutting-edge tools that meet gaps in the wider cancer care system.

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With our deep expertise in trauma-informed support, access to young people’s voices, and a trusted brand, we’re a sought-after partner in the innovation space. In the coming year, we’ll launch our first partnerships, ensuring our services stay at the forefront of support, while helping shape the future of cancer care.

OUR APPROACH TO SAFEGUARDING

In 2024/25, we remained focused on strengthening safeguarding across Young Lives vs Cancer. Our annual training plan ensures employees and volunteers are well-equipped, and this year’s Peer Review included an audit of safeguarding records to support continuous improvement.

We monitor thematic learning from safeguarding concerns, using these insights to inform training, improve risk management and refine our protocols. This approach helps us stay proactive, responsive, and committed to high standards and strong governance.

Safeguarding remains central to our work, ensuring children, young people and families are safe, - supported, and protected at every stage. Find out more at: Safeguarding Young Lives vs Cancer

OUR APPROACH TO FUNDRAISING

Young Lives vs Cancer is registered with the UK Fundraising Regulator and fully complies with the Code of Fundraising Practice. Staff regularly refer to the Code to guide their work, and no compliance issues with schemes or fundraising standards arose during the year.

In 2024/25 we continued to implement our “Building Back Stronger” strategy, focusing on relationship fundraising, supporter experience, and diversifying income through initiatives such as our new lottery and expanded digital activity. While mass participation events and face-to-face fundraising remain core parts of our portfolio, we also completed the closure of our retail chain and invested in new channels to manage risk in a challenging external environment.

Our fundraising is delivered through a combination of in-house teams and external agencies. Where we work with professional fundraisers and commercial partners, robust contracts, due diligence, security reviews and regular monitoring ensure activities meet all legal requirements and the Code of Fundraising Practice. We place particular emphasis on protecting personal data and safeguarding individuals in vulnerable circumstances. All agencies must have clear policies in place to protect the public, and their performance is monitored closely, including through call listening, mystery shopping, complaint analysis and regular training.

We also work with volunteers and community supporters who fundraise in aid of Young Lives vs Cancer. Employees provide guidance and oversight to ensure activities are safe, compliant, and aligned with our brand and values.

In 2024/25 we received 42 fundraising complaints (2023/24: 53), with 14 relating to face-to-face fundraising. This represents 0.56% of sign-ups achieved through this activity, a very small proportion of the people engaged overall. All complaints were logged, monitored and resolved in line with our Complaints Policy.

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We take our responsibility to protect those in vulnerable circumstances very seriously and ensure our workforce and agencies are trained to support donors and help them make informed decisions.

We are also updating our Supporter Promise to reinforce our commitment to fundraising that is transparent, respectful and of the highest standard.

OUR FUTURE PLANS

In 2022, Young Lives vs Cancer, Children’s Cancer and Leukaemia Group, Ellen MacArthur Cancer Trust, and Teenage Cancer Trust joined forces to gain a deeper understanding of the experiences and needs of children and young people with cancer. In partnership with Dartington Service Design Lab, we conducted an extensive programme of qualitative and quantitative research. This research was designed to drive meaningful change, serving as a catalyst to transform the system, shape innovative solutions, and guide our decision-making to ensure more equitable support.

Now, three years on, the research is complete. From it, we have created the North Star, a bold vision for a better future for children and young people with cancer.

The North Star sets out a vision for the entire system, recognising that achieving systemic change requires collaboration across the sector. While collective effort is essential, our 2024/27 strategy defines the specific role Young Lives vs Cancer will play in contributing to this change.

Structured around four long-term ambitions, our strategy is ambitious and will require the commitment and collaboration of every member of Young Lives vs Cancer. For a comprehensive view of our approach, please refer to the full strategy here: The Time is Now.

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HOW WE DO THINGS MATTERS

Environmental sustainability

We believe that we have a responsibility to the future of children and young people with cancer. With that comes a duty to measure, control and reduce our environmental impact, working alongside others to build a more sustainable future. While we work towards becoming net zero in the future, we are committed to becoming environmentally responsible now.

In 2024/25 we submitted our ESOS Phase 3 action plan which sets out the measures we’re committed to achieving. We’re operating in an ever more challenging climate, but as we look forward to 2025/26 we’ll be looking at ways we can resource and fund further opportunities to improve our environmental sustainability, some of which have already been identified in the ESOS surveying, some of which we’re yet to discover.

Diversity, equity, inclusion and belonging (DEIB)

In 2021, we launched Brave Not Perfect, our Diversity, Equity, Inclusion and Belonging strategy. This strategy set out our ambition for Young Lives vs Cancer to become a diverse, inclusive and equitable organisation, where everyone feels like they truly belong. Originally created as a twoyear strategy, its relevance has endured, and Brave Not Perfect continues to reflect our long-term commitment to meaningful change. We remain actively engaged with the roadmap it sets out.

Building on this foundation, we implemented our Anti-Oppressive Recruitment policy in 2024, which formalised our commitment to inclusive hiring practices. This policy is underpinned by core principles, including building a workforce that reflects the children, young people and families we support; promoting best practice in recruitment and selection; and ensuring that appointments are made based on merit and alignment with essential criteria. We also invest in training for those involved in recruitment, focusing on anti-oppressive practice and allyship, and strive to ensure a fair and positive candidate experience for all.

We take a progressive approach to accessibility, particularly for candidates with disabilities. While the legal requirement to make reasonable adjustments is based on the definition of disability under the Equality Act 2010, our approach centres on removing barriers, regardless of formal diagnosis, so that candidates can thrive throughout the recruitment process. This reflects our broader commitment to fostering a culture of trust, inclusion and equity across all aspects of our work.

Transforming how we work and deliver support

In 2024/25, we launched an ambitious digital and data transformation programme to modernise our systems, improve service delivery, and unlock the power of data for greater impact. This multi-year initiative will replace outdated platforms with integrated, scalable technologies - starting with a new finance system, followed by CRM, HR, and data infrastructure. Our goal is to ensure that our workforce, supporters, and service users all benefit from secure, user-friendly digital tools and realtime insights. By embracing automation, AI, and improved data governance, we aim to enhance efficiency, personalise engagement, and strengthen our role as a trusted source of insight across the sector.

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RISKS AND UNCERTAINTIES

Our Board of Trustees and Executive Team work together to identify and manage risks that could affect our ability to deliver impact and remain financially sustainable. Key risks include financial volatility, cyber threats, digital transformation challenges, workforce capacity, and external disruption in public services.

These risks are monitored through our strategic risk register and reviewed regularly by the Board. Mitigation strategies include diversified income generation, investment in technology and workforce development, robust governance and assurance frameworks, and detailed planning for critical incidents.

This approach ensures we remain resilient, responsive to change, and focused on supporting young cancer patients and their families.

FINANCIAL REVIEW AND RESULTS FOR THE YEAR

The Consolidated Statement of Financial Activities shows the financial results for Young Lives vs Cancer and its active trading subsidiaries: CLIC Sargent Promotions Limited; CLIC Sargent Developments Limited and CLIC Sargent Lottery Limited.

Total income for the year to 31[st] March 2025 was £25.9m, an increase of £2.8m over the year to 31[st] March 2024. Of this, £0.9m related to property sales following the decision in the previous financial year to close the Charity’s shops. The decision to exit retail shops was taken given the significant level of investment which would have been required to maintain and restore the shops to an attractive and appropriate environment for customers, employees and volunteers. In addition, the decision was taken to close and sell one of the Charity’s Home from Homes in Oxford as the home no longer met the requirements of our homes following an operational review.

Excluding the one-off income mentioned above, despite the economic climate and uncertainty generated by the incoming tax changes, fundraising income performed well increasing by £1.8m over the prior year. This strong performance is all the more notable given the impact of our retail shop closures, phased over the current and previous financial year. Retail trading income reduced by £0.9m year on year. Excluding this impact, fundraising income grew by £2.7m.

£1.6m of this increase came from growth in legacies , with £3.8m earned in the financial year. A further £0.4m came from People’s Postcode Lottery who granted a one-off donation of £0.5m (£0.1m in 2023/24) over and above their regular grant of £2.5m. This offset a £0.2m reduction in grants from Trusts which resulted from changes in the team with a new structure now becoming embedded. Also, in FY24 we recognised £0.2m of multi-year lottery funding. We did not receive any further lottery gifts in FY25.

Income from challenge events also rose in the year, with an additional £1.0m generated across Sports, particularly the London Marathon, and Virtual Challenges. Over £3.1m was earned from these challenges, with Virtual Challenges, which originated during the pandemic, now established as a staple source of income. As competition is high in the Virtual Challenges space, we continue to innovate in order to achieve the best returns from this source of funding. Sports Challenges performed strongly this year following support from celebrities with connections to causes.

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Income from our Individual Giving channel dropped £0.5m in the year following a decision in the previous financial year to reduce the investment in acquisition of donors and to redeploy the money into other income channels. The income drop is driven by regular giving, with a smaller volume of newly acquired donors being outweighed by attrition.

Corporate Partnerships income was £0.6m higher in the year following the additional grant of £0.4m from People’s Postcode Lottery and £0.2m additional income from new and existing partners. However, income from JD Wetherspoons income reduced £0.1m in the year due to fewer pubs being operated and as the economic climate impacted fundraising in the pubs.

Regional Engagement income increased £0.2m in the year following a team restructuring at the start of the year and a focus on reactive fundraising through “In Aid Of” events and increased work with regional groups and associations.

Our income from Philanthropy Events was £0.1m down following the decision to change the model away from high-cost events hosted by the charity, to a model where events are hosted by individuals and held in the charity’s name.

Total expenditure increased £0.6m in the financial year to £26.7m. This increase is a result of investment in technology as the charity embarked on a programme to replace a number of ageing systems. Replacing the systems will not only generate efficiency but provide us with greater data which will enable the charity to provide better services to service users. Fundraising costs fell £0.8m from 2023/24 to 2024/25 reflecting the closure of the retail shops.

The group’s cash position has reduced by £2.4m, from £8.8m to £6.4m, reflecting the planned operating deficit in the financial year as we invested in the areas referred to above.

CLIC Sargent Promotions Limited performs trading activity and receives cause-related marketing income on behalf of the charity. The company had a turnover of £0.2m (2023/24: £0.3m) and net profit of £0.1m (2023/24: £0.2m), all of which will be donated to the charity. The reduction in income is due to a reduction in sales from shops and less cause-related marketing income.

CLIC Sargent Developments Limited manages the design and build of new Homes from Home. During 2024/25, no new homes were developed and this is reflected in no income earned in the year (2023/24: £0.0m). The company made a small loss of £4k in the year (2023/24: loss of £5k) meaning no donation to the charity in the current year (2023/24: £0k).

CLIC Sargent Lottery Limited holds lotteries and raffles on behalf of the charity. The company had no turnover in the year (2023/24: £33k) and made a loss of £9k (2023/24: £26k profit), meaning no donation to the charity in the year.

Reserves

Free Reserves comprise the total reserves available to the charity less those reserves which are restricted or designated for specific purposes.

Each year the Trustees review the policy for maintaining Free Reserves, taking into consideration the major risks faced by the charity, the potential impact of these risks on income and expenditure and any risk mitigations identified, with the aim of ensuring the Free Reserves policy remains appropriate for the charity in the current environment and amending as appropriate.

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Following the 2024/25 review, the Trustees decided to retain the Free Reserves range of £5.0m to £8.0m, with the target Free Reserves holding remaining at £6.5m. As previously, the range between £5.0m and £6.5m allows for the risk premium of £1.5m to cover short-to-medium-term risks to income and expenditure as a result of the prevailing economic climate. This risk premium will be reassessed annually.

Given the forecast timing of income and costs for next financial year, 2025/26, the Trustees have agreed a Free Reserves policy range of £4.5m - £7.5m. Funds held between £6.0m and £7.5m will be used to invest in our strategic initiatives.

Total funds at 31[st] March 2025 amounted to £24.8m (2023/24: £25.5m), of which £2.3m (2023/24: £2.0m) was restricted to specific purposes and £16.2m (2023/24: £17.4m) was designated, with £1.1m (2023/24: £1.7m) set aside for specific future projects (further detail in Note 18), and the remainder representing fixed assets.

Free Reserves at 31st March 2025 amounted to £6.3m (2023/24: £6.1m) which is £1.3m greater than the lower limit of our Free Reserves policy.

The forecast impact for 2025/26 on Free Reserves is a reduction of £0.9m, in line with the revised Free Reserves range, which, as noted above, the Trustees have approved.

The Trustees will continue to consider the balance of risk between financial resilience and investment in the development of activities. While they consider the current level of Free Reserves appropriate for the needs of the charity, this will be re-evaluated as appropriate in light of future forecasts and requirements.

Going concern

The charity’s financial position and performance has been outlined in the financial review above. The Trustees have assessed projected future income, expenditure and cash flows over the period ending 12 months from the date of signing the accounts and analysed the charity’s reserves position, liquid assets and its ability to withstand a material decline in income. Consideration has been given to the stability, predictability, and diversity of various income streams in making this assessment.

Our Free Reserves policy is reviewed annually and is integral to ensuring we remain a going concern by holding sufficient reserves to withstand a significant decline in income or unexpected costs. The policy is developed based on the financial risks identified within the strategic risk register. Our forecasting and longer-term financial planning seeks to be income-led, committing to new costs only when affordable and financial planning decisions are made in the context of our free reserves policy.

The long-term financial position of the charity is monitored on a monthly basis, being incorporated into a quarterly forecast process, and reviewed by the Charity’s Finance Committee, in detail, and then the wider Board of Trustees on a quarterly basis. Our current year forecast, along with a further two-year outlook, considers the impact of our projections on both our Free Reserves and cash position.

The Trustees have concluded that Young Lives vs Cancer and its non-dormant subsidiaries, CLIC Sargent Promotions Limited, CLIC Sargent Developments Limited and CLIC Sargent Lottery

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Limited, have adequate resources to continue activities for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the accounts.

Financial instruments

The Charity’s Finance Committee is responsible for overseeing the overall investment strategy and for the oversight of its implementation. The Trustees have continued to adopt a conservative investment policy that seeks first to protect the reserves of the charity and second to achieve an appropriate return.

During 2024/25, the Charity continued to place money on short term bank deposit in order to take advantage of the higher interest rates. This approach is expected to be maintained.

Streamlined Energy and Carbon Reporting (SECR)

We disclose our energy use and greenhouse gas emissions that we are responsible for in line with the requirements of the Companies Act 2006 (Strategic and Directors' Reports) Regulations 2013 and latest 2018 Regulations.

Table 1: Primary Statement

2024/25
Consumption
kWh		 2024/25 Emissions
(TCO2e)		 2023/24 Emissions
(TCO2e)		 Change
(%)
Electricity 245,925 54.90 83.18 -34%
Gas 641,542 117.10 171.75 -32%
Transport
Fuels		 179,690 43.06 52.86 -19%
Gross Annual
Total		 1,067,157 215.06 307.79 -30%
Intensity Metric
(m2)		 6,275 6,491 -3%
Total
TCO2e/m2		 0.0343 0.0474 -28%
Qualifying
Green Tariffs		 33,951 6.96 0.00 -
Net Annual
Total		 1,033,206 208.10 307.79 -32%

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The above reported carbon emissions translate to Scope 1, 2 and 3 emissions as follows:

Table 2: Greenhouse Gas Emissions for CLIC Sargent

2024/25
Consumption
kWh		 2024/25
Emissions
(TCO2e)		 2023/24
Emissions
(TCO2e)		 Change
(%)
Scope 1* 641,542 117.10 175.73 -33%
Scope 2(location based) 245,925 50.40 83.18 -39%
Scope 2(market based) 211,974 43.44 83.18 -48%
Scope 3 179,690 47.56 48.88 -3%
Total(location based) 1,067,157 215.06 307.79 -30%
Total(market based) 1,033,206 208.10 307.79 -32%

Rolling Baseline Year

This year of annual greenhouse gas emission reporting is aligned with the financial year 1 April 2024 to 31 March 2025. We have opted to use a rolling year baseline, with each year of reporting to be compared to the previous year. This year’s report findings are therefore compared with the last year’s report, which runs from 1 April 2023 to 31 March 2024.

Targets

We have not set any formal carbon targets for the current reporting period, but this remains an area we are continuing to explore as part of our ongoing approach to sustainability.

Intensity Measurement

The chosen intensity metric is the total floor area of all sites for which energy data was available as of the financial year ending 31 March 2025. This was chosen as the most suitable metric as our operations are closely linked to the number of operational sites.

Carbon Offset

We did not have any qualifying carbon offsets during this financial period.

Energy Efficiency at Young Lives

Over the twelve-month reporting period, the organisation has implemented several key actions aimed at improving energy efficiency.

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Unfortunately, as this site is leased with no access to the consumption figures it will not be possible to monitor changes to consumption at these sites. However, despite it not being possible to observe the associated energy and carbon savings, these measures are still expected to reduce emissions associated with our activities.

The surveys and associated reports completed as part of Phase 3 ESOS provide a route map for which energy conservation measures can be implemented cost effectively, and the above measures have been included in our ESOS Action Plan.

Footnotes

Young Lives vs Cancer has chosen operational control as the consolidation approach and the boundary includes all entities and facilities either owned or under our operational control that are within the UK.

The methodology used to calculate the CO2e emissions is the Operational Control approach on reporting boundaries as well as utilising the carbon emissions methodology as defined by the World Resources Institute/World Business Council for Sustainable Development (WRI/WBCSD) Greenhouse Gas Protocol (GHG): A Corporate Accounting and Reporting Standard, Revised Edition. Emissions factor data source: BEIS 2024 conversion factors https://www.gov.uk/government/publications/greenhouse-gas-reporting-conversion-factors2024.

Reporting covers electricity, gas and transport fuel consumption within the UK as required by Environmental Reporting Guidelines for non-quoted companies as defined in The Companies (Directors' Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018.

Emissions in tonnes CO2e in line with the GHG Protocol Corporate Standard (2004) including revised Scope 2 guidance (2015) which discloses a market-based figure in addition to the location-based figure. Scope 2 emissions have been calculated in accordance with GHG Protocol guidelines, in both location and market-based methodologies. We have used a zero-emission factor where we have renewable contracts in place in the UK.

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STRUCTURE, GOVERNANCE AND MANAGEMENT

Young Lives vs Cancer is the working name of CLIC Sargent Cancer Care for Children, a registered charity in England and Wales (No. 1107328) and in Scotland (SC039857) and a company (No. 05273638) limited by member guarantee and is governed by revised Articles of Association adopted in June 2023.

Our Trustees, honorary presidents, vice presidents, ambassadors and senior executives of Young Lives vs Cancer are listed within the Reference and Administrative section of the accounts.

As disclosed in Note 9 to the Financial Statements, Young Lives vs Cancer owns 100% of the issued share capital of CLIC Sargent Promotions Limited and CLIC Sargent Developments Limited. CLIC Sargent also has control over CLIC Sargent Lottery Limited. Information presented on the organisational structure below is based on the group and includes CLIC Sargent Promotions Limited, CLIC Sargent Developments Limited and CLIC Sargent Lottery Limited.

The Board

The Board of Trustees for the charity and the Boards of Directors for Young Lives vs Cancer and the subsidiaries (‘the Board’) are responsible for the overall governance of Young Lives vs Cancer and meet at least four times each year. The number of Trustees cannot be fewer than six or more than 14. The governance of the charity is aligned with good governance practice as set out in the Charity Governance Code.

The Board reviews itself against the Charity Governance Code and undertakes proactive development in areas such as diversity, equity, inclusion and belonging (DEIB) and safeguarding and broader governance best practices. The Board commissioned an external review of its effectiveness in 2023, which provided strong assurance of our governance against the Charity Governance Code. The recommendations for improvement are now largely complete and have been embedded to further strengthen our governance.

The Governance and People Committee is responsible for the selection and recruitment of new Trustees, using a transparent recruitment process with input from young people who have or have had cancer, and their families via our Voice Board. All appointments are approved by the Board. A skills audit is used to identify the skills, experience, characteristics and backgrounds needed to provide high-quality, effective and inclusive governance. During 2024/25, 4 Trustees stepped down from their roles and we appointed 4 new Trustees.

Trustee Induction and Training

New Trustees are provided with a comprehensive induction pack with information about the charity and their role as a Trustee. New Trustees must also complete an induction programme, which includes meetings with members of the workforce within different areas of the charity, site visits (where possible), and safeguarding training. Any development needs that they may have during their time as a Trustee are discussed as part of their annual appraisal with the Chair of the Board.

Trustees are also provided with regular briefings and information about relevant events.

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Strategic management

The Board is responsible for setting an appropriate strategy for the charity. It also ensures that relevant performance measures are in place. The Trustee Board has delegated consideration of specific issues to five subcommittees, which then make recommendations to the Board. The Board receives regular reports on all aspects of the charity’s work.

Organisational structure

There are 5 sub-committees of the Board at Young Lives vs Cancer. In addition, our Voice Board plays an important advisory role, ensuring that the views and experiences of a diverse group of young people with lived experience, siblings, and parents/carers influence our decision making.

Chief Executive

Authority for the day-to-day activities of Young Lives vs Cancer is delegated to the Chief Executive, who is responsible for delivering the agreed strategy and policies. The Chief Executive is supported by an Executive Team, which meets weekly and reports directly to them.

Remuneration policy for key management personnel

The Executive Team are the key management personnel for the charity. Remuneration of our Executive Team is benchmarked against the external market every two years, using the leading charity and voluntary sector salary survey.

The review involves consideration of salary survey data at the median along with economic indicators, affordability, competitiveness and retention of those in key roles.

Options for Executive Team pay are then considered and agreed by our Governance and People Committee. In the case of the Chief Executive, this is agreed by the Board of Trustees.

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EMPLOYEES AND VOLUNTEERS

This year marked a significant shift for Team Young Lives. Alongside our new strategy, we introduced new organisational values, co-created with our workforce, to guide how we work, make decisions, and deliver our mission.

We continued listening to our people, and our 2024 workforce survey showed clear progress. Our Employer Net Promoter Score (which measures how likely employees are to recommend their workplace to others) more than doubled, rising from 16 to 33. Colleagues reported stronger belonging, improved communication, and higher job satisfaction. Work is underway to address areas for further improvement.

We also strengthened internal communications , focusing on employee engagement, two-way dialogue, timely updates, and promoting our strategy and values. This remains a key priority for 2025.

Modernisation efforts in our People and Culture Directorate began with streamlining onboarding, improving payroll accuracy, and exploring automation and AI to reduce manual work and enhance the workforce experience.

A restructure early in 2025, while difficult, was essential to refocus resources, removing vacant roles and making several redundancies, to support our digital and data transformation and a ensure a more flexible, future-fit organisation.

We maintained our commitment to equity and transparency , continuing to publish pay gap data across gender, ethnicity, disability, and more. Our mean gender pay gap (the difference in average earnings between men and women) fell from 7.9% to 7.5%, and inclusive practices are being embedded throughout the charity.

Volunteering also grew, with 256 volunteers taking part in 65 micro-volunteering activities and 99 opportunities offered overall. Tailored communications improved engagement: 83% now feel well informed (up from 64%), 97% enjoy their roles, and 98% feel proud to volunteer with us. Retention remains strong, with 91% planning to continue.

Volunteering in service delivery is a key area for growth in 2025/26, especially within our evolving accommodation strategy.

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STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees (who are also directors for the purposes of company law) are responsible for preparing the Annual Report and financial statements in accordance with applicable law and regulations. Charity and company law require the Trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for maintaining adequate accounting records that are sufficient to show and explain the charity's transactions and disclose, with reasonable accuracy, the financial position of the charity at any time. They must ensure that the financial statements comply with the Companies Act 2006, the Charities Act 2011, and the Charities (Accounts and Reports) Regulations 2008.

The Trustees are also responsible for safeguarding the assets of the charity and for taking reasonable steps to prevent and detect fraud and other irregularities.

In carrying out their duties under Section 172 of the Companies Act 2006, the Trustees have had regard to the likely long-term consequences of decisions, the interests of employees, and the need to foster strong relationships with beneficiaries, donors, partners, and suppliers. They also consider the impact of the charity’s activities on the community and the environment. The Trustees are mindful of their responsibility to maintain the highest standards of conduct, act fairly between members, and ensure that the charity continues to deliver sustainable benefits for children, young people with cancer, and their families.

Insofar as the Trustees are aware:

This Annual Report, prepared under the Charities Act 2011 and the Companies Act 2006, was approved by the Trustees on 1 October 2025 and is signed on their behalf by:

Sir David Haslam (Chair)

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Independent Auditor’s Report to the Members and Trustees of Young Lives vs Cancer

Opinion

We have audited the financial statements of Young Lives vs Cancer (‘the charitable company’) and its subsidiaries (the ‘group’) for the year ended 31[st] March 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charity Balance Sheets, the Consolidated Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's or the group’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

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Other information

The Trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In light of the knowledge and understanding of the group and charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the Trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion:

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Responsibilities of Trustees

As explained more fully in the Trustees’ Responsibilities Statement set out on page 20, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

A further description of our responsibilities for the audit of the financial statements is located on the ’ Financial Reporting Council’s website: Auditor s Responsibilities for the Audit. This description forms part of our auditor’s report.

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

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We obtained an understanding of the legal and regulatory frameworks within which the charitable company and group operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, the Charities Act 2011 and The Charities and Trustee Investment (Scotland) Act 2005 together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s and the group’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company and the group for fraud. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be with the completeness and timing of legacies, grant and Trust income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, and the Finance, and the General-Purpose Audit & Risk Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, Scottish Charity Regulator, designing audit procedures over the completeness and timing of legacies, grant and Trust income, and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company’s Trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body and the charitable company’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

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Tara Westcott

Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor

4th Floor St James House St James’ Square Cheltenham Gl50 3PR

Date: 14 October 2025

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Consolidated statement of financial activities

(incorporating an income and expenditure account) For the year ending 31 March 2025

For the year ending 31 March 2025
Unrestricted Restricted Restated
Notes funds funds 2025 2024
£’000 £’000 £’000 £’000
Income from:
Donations and legacies
Donations and other voluntary income 2 15,427 1,613
17,040
16,871
Legacies 2 3,804 - 3,804 2,197
Other trading activities
Retail trading 2 315 - 315 1,188
Fundraising trading 2 3,312 145
3,457		 2,551
Lottery income 2,3 2 9
11
34
Investments 231 - 231 136
Profit on disposal of fixed assets 912 - 912 -
Other 4 148 - 148 92
Total income 24,151 1,767
25,918
23,069
Expenditure on:
Raising funds
Donations and Legacies 2 10,199 - 10,199 9,508
Retail trading 2 159 - 159 1,150
Fundraising Trading 2 717 - 717 1,181
11,075 - 11,075 11,839
Net income available for charitable activities 13,076 1,767
14,843
11,230
Charitable activities:
Major Service Provision 12,766 1,441
14,207
13,040
Policy, Communications and Voice 1,053 58
1,111
1,204
Research, Innovation and Systems Change 258 14
272
-
Total direct charitable expenditure 6 14,077 1,513
15,590
14,244
Total expenditure 6 25,152 1,513
26,665
26,083
Net (expenditure)/income 5 (1,001) 254
(747)		 (3,014)
Transfers between funds 16,18 (18) 18
-		 -
Net movement between funds (1,019) 272
(747)		 (3,014)
Total funds brought forward 16,18 23,499 2,014 25,513 28,527
Total funds carried forward 22,480 2,286 24,766 25,513

Fund comparatives are provided in last year's Consolidated Statement of Financial Activities on the next page.

Prior year expenditure has been restated as described in note 6. The restatement is reclassification only and there is no impact on net movement in funds.

Notes 1 to 25 on the following pages form part of these financial statements.

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Consolidated statement of financial activities

(incorporating an income and expenditure account) For the year ending 31 March 2024

For the year ending 31 March 2024
Unrestricted Restricted
Restated
Notes funds funds 2024
£’000 £’000 £’000
Income from:
Donations and legacies
Donations and other voluntary income 2 15,103 1,768
16,871
Legacies 2 2,127 70 2,197
Other trading activities
Retail trading 2 1,188 - 1,188
Fundraising trading 2 2,533 18
2,551
Lottery income 2,3 34 - 34
Investments 136 - 136
Other 4 92 - 92
Total income 21,213 1,856
23,069
Expenditure on:
Raising funds
Donations and Legacies 2 9,508 - 9,508
Shops and Trading 2 1,150 - 1,150
Fundraising Trading 2 1,181 - 1,181
11,839 - 11,839
Net income available for charitable activities 9,374 1,856
11,230
Charitable activities:
Major Service Provision 11,473 1,567
13,040
Policy, Communications and Voice 1,142 62 1,204
Total direct charitable expenditure 6 12,615 1,629
14,244
Total expenditure 6 24,454 1,629
26,083
Net income/(expenditure) 5 (3,241) 227 (3,014)
Transfers between funds 17,19 2 (2)
-
Net movement between funds (3,239) 225 (3,014)
Total funds brought forward 17,19 26,738 1,789 28,527
Total funds carried forward 23,499 2,014 25,513

All amounts shown above relate to continuing operations.

Notes 1 to 25 on the following pages form part of these financial statements.

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Balance sheets As at 31 March 2025

Company number: 05273638

Group Charity
Notes 2025 2024 2025 2024
£’000 £’000 £’000 £’000
Fixed assets
Tangible fixed assets 10 15,095 15,658 15,095 15,639
Investments 11a - 125 100 244
15,095 15,783 15,195 15,883
Current assets
Investments 11b 14 14 14 14
Debtors 12 5,622_3,997_ 3,997 5,906 4,352
Cash at bank and in hand 22 6,101_8,248_ 8,248 5,735 7,745
Cash held on long term deposit 22 268 502 268 502
12,005 12,761 11,923 12,613
Creditors
Amounts falling due within one year 13 (2,334) (2,970) (2,322) (2,905)
Net current assets 9,671 9,791 9,601 9,708
Creditors
Amounts falling due after one year 14 - (61) - (61)
Net assets 15 24,766 25,513 24,796 25,530
The funds of the Group/Charity
Restricted income funds 15,16 2,286 2,014 2,286 2,014
Unrestricted funds
Free reserves 18 6,304 6,121 6,334 6,138
Designated funds 18 16,176 17,378 16,176 17,378
Total Group/Charity funds 24,766 25,513 24,796 25,530

The parent Charity made a deficit in the year of £734k (2024: £3,006k).

These financial statements were approved by the Board of Trustees and authorised for issue on 1 October 2025.

David Haslam Chair

Anna Hancock Treasurer

Notes 1 to 25 on the following pages form part of these financial statements.

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Consolidated cash flow statement

For the year ending 31 March 2025

Notes 2025 2025 2024
Net cash used in operating activities
21
Cash flows from investing activities
Interest received
Net sales proceeds from the sale of fixed assets
Net sales proceeds from the sale of investment property
Purchase of property, plant and equipment
10
Net cash provided by investing activities
Change in cash and cash equivalents for the year
22		 £’000
£’000
£’000
(3,597)
231
136
1,296
60
115
-
(426)
(156)		 £’000
(2,062)



40
231
1,296
115
(426)
1,216
(2,381)
(2,022)
Cash and cash equivalents at the beginning of the year
22		 8,750 10,772
Cash and cash equivalents at the end of the year
22		 6,369 8,750

Notes 1 to 25 on the following pages form part of these financial statements.

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For the year ending 31 March 2025

Notes to the accounts

1. Accounting policies

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

(a) Basis of accounting and going concern

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

CLIC Sargent Cancer Care for Children ("the charity" or "the parent"), referred to in this document as "Young Lives vs Cancer", meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The charity’s financial position and performance has been outlined in the Financial Review. The Trustees have assessed projected future income, expenditure and cash flows over the period ending 12 months from the date of signing the accounts and analysed the charity’s reserves position, liquid assets and its ability to withstand a material decline in income. Consideration has been given to the stability, predictability and diversity of various income streams in making this assessment.

Our Free Reserves policy is reviewed annually and is integral to ensuring we remain a going concern by holding sufficient reserves to withstand a significant decline in income or unexpected costs. The policy is developed based on the financial risks identified within the strategic risk register. Our forecasting and longer-term financial planning seeks to be income led, committing to new costs only when affordable and financial planning decisions are made in the context of our Free Reserves policy.

The long-term financial position of the charity is monitored on a monthly basis, being incorporated into a rolling forecast process, and reviewed by the Finance Committee, in detail, and then the wider Board of Trustees on a quarterly basis. Our current year forecast, along with a further two-year outlook, considers the impact of our projections on both our Free Reserves and cash position.

The Trustees have concluded that Young Lives vs Cancer and its non-dormant subsidiaries, CLIC Sargent Promotions Limited, CLIC Sargent Developments Limited and CLIC Sargent Lottery Limited, have adequate resources to continue activities for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the accounts.

(b) Group financial statements

The group financial statements consolidate the results of the parent and its non-dormant subsidiaries, CLIC Sargent Promotions Limited, CLIC Sargent Developments Limited and CLIC Sargent Lottery Limited (see Note 9), on a line by line basis. All intra-group transactions are fully eliminated on consolidation in the group results.

The charity has availed itself of Paragraph 3 (3) of Schedule 4 of the Companies Act and adapted the Companies Act formats to reflect the special nature of the charity’s activities. No separate SOFA has been presented for the charity alone as permitted by Section 408 of the Companies Act 2006. The net result of the parent (the charity) is shown on the Balance Sheet.

The charity is a qualifying entity as defined in FRS 102 and therefore has taken advantage of the exemptions in FRS 102 from the requirement to present a charity only cashflow statement.

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Notes to the accounts

For the year ending 31 March 2025 (continued)

(c) Legal status

Young Lives vs Cancer was incorporated in the United Kingdom as a Company limited by guarantee (Company no. 05273638). The entity is also a registered Charity in England and Wales (Charity no. 1107328) and Scotland (Charity no. SC039857). The principal and registered office is shown at the back of these accounts.

The members of the company are the Trustees. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

(d) Estimates and judgements

Preparation of the financial statements requires management to make estimates and judgements. The items in the financial statements where the most significant estimates and judgements have been made are:

(e) Taxation

The Company, which is a registered Charity, is entitled to taxation exemptions on all income and gains properly applied for its Charitable purposes. There are no taxation losses for the subsidiary companies as all of the taxable profits are gifted to the parent.

(f) Funds

Restricted funds are funds on which donors have imposed specific restrictions or which have been raised for particular purposes. The aim and use of each restricted fund is set out in Note 16.

Designated funds represent unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in Note 18.

Free reserves are available for use at the discretion of the Trustees in pursuit of the general objectives of the charity.

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Notes to the accounts

For the year ending 31 March 2025 (continued)

(g) Income and deferred income

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

Legacies are accounted for on a receivable basis. Pecuniary legacies are recognised following formal notification from the estate. Residuary legacies are recognised only when there is legal entitlement, receipt is probable and Young Lives vs Cancer’s interest can be measured, which is normally on grant of probate. Bequeathed properties awaiting sale are included in legacy income at their probate value when Young Lives vs Cancer takes ownership of the property. Where there are uncertainties surrounding the measurement of the charity’s entitlement to an estate, or there is a prior or life interest before the legacy comes to the charity, no income is recognised until these are resolved and any conditions are met. Where legacies have been notified to the charity but the recognition criteria are not fully met, the legacy is treated as a contingent asset and disclosed if material.

Income from grants , whether capital or revenue in nature, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably. Grant income will be deferred if received in advance of meeting performance conditions or if the donor specifically states that the income must be spent in a future accounting period.

Contractual income is recognised when the goods or services as specified by the contract are delivered by the charity. This income is treated as unrestricted in the accounts.

Income relating to events is recognised in the period in which the event occurs.

Donations are recognised on receipt and comprise gifts that will not provide any return to the donor other than the knowledge that someone will benefit from the donation. Income from donations includes gifts that must be spent on some particular area of work (i.e. restricted income funds). Donations include gifts in kind and donated services (see accounting policy (h) below).

Income from other trading activities includes income earned from both trading activities to raise funds for the charity and income from fundraising events. To fall within this analysis heading, the income must be received in exchange for supplying goods and services in order to raise funds for the charity.

Lottery income includes amounts raised from raffles and lotteries run within the charity and by CLIC Sargent Lottery Limited. In 2025, lottery income included proceeds from a weekly lottery run by an External Lottery Manager, Woods Valldata.

Other income includes profit from the sale of fixed assets and contractual income earned from our services.

Deferred income consists of cash received by the charity, where the income recognition criteria has not been met because entitlement to the income does not exist at the balance sheet date. Deferred income is not recognised in the SOFA until the charity is entitled to the income. Instead, deferred income is disclosed as a liability in the balance sheet.

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32

Notes to the accounts

For the year ending 31 March 2025 (continued)

(h) Donated services and facilities

The charity benefits from gifts in kind in the form of volunteer time and unclaimed out of pocket expenses. These are not recognised in the accounts as they cannot be reliably valued, but further information is provided in the Trustees' annual report.

In addition many individuals, companies and organisations provide facilities, equipment and services such as advertising free of charge. The charity recognises, where possible, the value of the gift, which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market. A corresponding amount is then recognised in expenditure in the period of receipt.

Items donated for resale are included in shop income when sold and no value is placed on stock at the year end. These items are not recognised in the accounts on receipt as it is impractical to do so given the high volume of low-value items received by the charity and the absence of a sophisticated stock control system to assist with documenting and valuing donated stock held. The Trustees consider that the cost of implementing such a system would outweigh the benefits. High value items of donated stock (with an individual value of £1,000 or more) are recognised on receipt if the income recognition criteria is met.

(i) Expenditure recognition and irrecoverable VAT

Liabilities are recognised when the charity has a legal or constructive obligation to make payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Expenditure on Raising Funds includes all expenditure (salaries, direct costs and overheads) incurred by the charity and its subsidiaries to raise funds for its charitable purposes. It includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

Costs allocated to Fundraising Trading are those relating to our Major Events, Challenge Events and other non-charitable trading activities such as cause-related marketing undertaken with our corporate partners.

Expenditure allocated to Retail Trading relates to the costs of running the charity’s shops; recycling and product marketing activities.

All other expenditure on raising funds relates to the cost of bringing in Donations and Legacies.

Expenditure on Charitable Activities includes all costs incurred by the charity in undertaking activities that further its charitable aims.

Governance costs include expenditure incurred for and by the Board necessary for the strategic oversight of the charity.

Irrecoverable VAT and termination payments are accounted for in the period an obligation is made or liability incurred and are charged against the relevant activity.

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33

Notes to the accounts

For the year ending 31 March 2025 (continued)

(j) Grants payable

The charity's grants are available to children, young people and their families who meet the eligibility criteria for registration with the charity. The need for financial support must be related to the child’s illness and to support additional expenses incurred. CLIC Sargent does not pay costs of treatment, medical equipment, therapies or school fees.

Grants to children, young people and their families are charged in the year when the offer is conveyed to the recipient. These grants are not subject to conditions being fulfilled once the eligibility criteria has been satisfied.

Occasionally, grants are awarded to other third parties in the furtherance of the charitable objectives of the charity. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. Grant awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the charity.

(k) Expenditure Allocation including support costs

All expenditure is accounted for on an accruals basis and has been classified to expenditure categories on a direct basis where appropriate or allocated in line with managerial and budgetary responsibilities using several criteria, which include headcount and activity.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include IT support, finance, personnel, payroll and governance costs which support the charity's services and fundraising activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. Costs have been allocated across each cost category on the basis of full time equivalents and activity.

(l) Tangible and intangible assets

Individual items costing £2,000 or more are capitalised at cost. Where an item is below £2,000, but is combined with other items as part of a project or to create an asset, these items will be capitalised if the collective value is greater than £2,000. Property which is gifted to the charity is held at valuation and reviewed for impairment.

We reviewed fixed asset categories and depreciation rates this year and made changes as set out in Note 10. New and previous rates are noted below. There has been no prior year restatement.

Depreciation is provided on all tangible fixed assets using a straight line basis over their expected useful economic lives as follows:

Land nil

Freehold property 50 years

Property improvements 10 years or the length of the lease (new category)

Fixtures and fittings 5 years (previously 3-5 years)

IT hardware 3-5 years (new category)

Assets under construction represent those assets that are undergoing improvements prior to being made operational. During this phase no depreciation is charged. Fixed assets are subject to periodic review for impairment where there is an indication of a reduction in their carrying value. Any significant impairment is recognised in the SOFA in the year in which it occurs.

Intangible assets are stated at cost less accumulated amortisation. Amortisation is provided on all intangible assets using a straight-line basis over their expected useful economic life of 5 years.

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34

Notes to the accounts

For the year ending 31 March 2025 (continued)

(m) Investments

All the charity’s investments are made in accordance with the powers contained within the Memorandum and Articles of Association.

Commercial investments are initially stated at purchase value and then are restated at market value at the end of each financial year. Where it is the intention to realise an investment asset without reinvestment of the sale proceeds, the investment asset is classified as a current asset investment. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the SOFA. The historical cost of commercial investments is shown in the notes to the accounts.

Cash held on long term deposit is cash on deposit and cash equivalents with a maturity of three months or more held for short term investment purposes rather than to meet short-term cash commitments as they fall due.

Investment Properties relate to shops owned by the charity that are used in part by CLIC Sargent Promotions Limited to undertake trading activities via the sale of new merchandise. A percentage of trading income relative to total income is calculated for each shop and applied to the book value to calculate the value of investment properties for the charity balance sheet. Following FRS102 Triennial Review 2017 becoming effective, the charity has taken advantage of the accounting policy choice to account for investment properties which are let to group companies at cost less accumulated depreciation, rather than fair value.

The Group had £125k of investment properties in the year ended 31 March 2024 which related to properties left as part of a legacy. These properties were held for sale at 31 March 2024 and were sold during the 2024/25 financial year. With the closure of the Charity's shops in 2024/25, there are no investment properties held as at 31 March 2025.

(n) Cash at bank and in hand

Cash at bank and cash in hand includes petty cash, and cash in bank accounts and short term deposit accounts with a maturity of three months or less from the date of opening the account.

(o) Debtors, creditors and provisions

Debtors with the exception of prepayments are those amounts that satisfy the income recognition policy at (g) above, recognised at the settlement amount due, where funds have not been received at the year end.

Prepayments are expenditure paid in the current financial year relating to costs to be incurred in a future accounting period. These are valued at the amount prepaid net of any trade discounts due.

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

Debtors and creditors are reviewed at the year-end for evidence of required impairment to their settlement value.

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35

Notes to the accounts

For the year ending 31 March 2025 (continued)

(p) Dilapidations policy

A dilapidations liability assessment has been conducted on the full property portfolio as at 31 March 2025. A provision is included in the financial statements for those costs that the charity estimates will be incurred upon vacating properties in the near future, based on the condition of the properties at the year end. Whilst some uncertainty exists regarding both the timing and amounts of the provisions, the amount represents the best estimate of the Trustees.

(q) Financial instruments

The Charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. The Charity also has a small holding of commercial investments measured at market value. Further information is provided in Note 24.

(r) Pension costs

The Charity contributes to defined contribution personal pension schemes on behalf of its employees. The amount charged in the SOFA represents the contributions payable to the schemes in respect of the current accounting period. Costs are allocated to activities in line with wages costs.

(s) Operating leases

Rentals applicable to operating leases are charged to the accounts on a straight-line basis over the lease term. Where an operating lease becomes an onerous contract, for example when the charity leases a property which it subsequently leaves unused and the property cannot be sub-let to recover its costs, the charity will recognise all irrecoverable costs immediately.

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36

For the year ending 31 March 2025 (continued)

Notes to the accounts

2. Net fundraising income

During the year, donations and legacies increased by £1.8 million (2024: decreased by £0.4 million).

Net fundraising income, including trading income, for the group is as follows:

Restated
Unrestricted Restricted 2025 2024
£’000 £’000
£’000		 £’000
Donations and legacies
Donations 12,113 619
12,732		 12,782
Grants 3,314 994
4,308		 4,058
Gifts in Kind - -
-		 31
Legacies 3,804 - 3,804 2,197
Total donations and legacies 19,231 1,613
20,844		 19,068
Retail trading income 315 - 315 1,188
Lottery income 2 9
11		 34
Fundraising trading income
Major fundraising events 244 - 244 240
Challenge events 2,979 145
3,124		 2,106
Other fundraising trading income 89 - 89 205
Total fundraising trading income 3,312 145
3,457		 2,551
Total fundraising income 22,860 1,767
24,627		 22,841
Less: donations and legacies' costs (10,199) - (10,199) (9,508)
Less: retail trading costs (159) - (159) (1,150)
Less: fundraising trading costs
Major fundraising events (64) - (64) (169)
Challenge events (650) - (650) (995)
Other fundraising trading expenditure (2) - (2) (17)
Total fundraising trading costs (716) - (716) (1,181)
Total fundraising expenditure (11,074) - (11,074) (11,839)
Net fundraising income 11,786 1,767 13,553 11,002

We have reviewed the way we allocate expenditure between costs of generating funds and charitable expenditure to ensure that it best represents how our costs are spent. We have restated the comparatives for 2024, under the new basis.

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37

Notes to the accounts

For the year ending 31 March 2025 (continued)

3. Lottery

A minimum of 20% of lottery income is restricted to be spent on charitable activities. Income received in the year relates to proceeds from a weekly lottery and event raffles (2024: relates to proceeds from the sale of scratchcards in Morrisons stores). See note 1 (g) for further information on lottery income. Amounts recognised in the year are as follows:

2025 2024
£’000 £’000
Gross proceeds 11
168
Expenses - (80)
Prize fund - (54)
Net proceeds received by the Charity 11
34

4. Other income

4. Other income
Unrestricted Restricted 2025 2024
£’000 £’000
£’000		 £’000
Services income 130 - 130 92
Other 18 - 18 -
Total other income 148 - 148 92

5. Net (expenditure)/income

5. Net (expenditure)/income
2025 2024
£’000 £’000
This is stated after (charging)/crediting:
Depreciation and amortisation (605) (517)
Profit on the disposal of fixed assets 912 2
Payments under operating leases:
Land and buildings (353) (528)
Auditor’s remuneration (42) (40)

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38

Notes to the accounts

For the year ending 31 March 2025 (continued)

6. Analysis of total expenditure

Direct &
Indirect Staff
Costs Direct Non- Support costs Restated
(Note 8) Staff Costs (Note 7) 2025 2024
£’000 £’000 £’000 £’000 £’000
Cost of generating funds:
Donations and Legacies 5,485 4,137
577
10,199
9,508
Retail Trading 304 (157) 12 159
1,150
Fundraising Trading 150 537
30		 717
1,181
5,939 4,517
619
11,075
11,839
Charitable expenditure:
Major Service Provision 9,894 2,982 1,331
14,207
13,040
Policy, Communications and Voice 945 64
102
1,111
1,204
Research, Innovation and Systems Change 179 58
35
272
-
11,018 3,104 1,468
15,590
14,244
Total expenditure 16,957 7,621 2,087
26,665
26,083

The direct and indirect staff costs above include the allocation of salaries for support staff.

For detail on grants paid during the year see note 20.

We have reviewed the way we present charitable expenditure to better reflect how our expenditure relates to our key areas of charitable activity. We have restated the comparatives for 2024, under the new basis. This revision has resulted in an immaterial (£8k) movement between costs of generating funds and charitable expenditure.

7. Analysis of support costs

Finance & Restated
Support costs Office Services Corporate Technology HR Governance 2025 2024
£’000 £’000 £’000 £’000 £’000 £’000 £’000
Cost of generating funds:
Donations and Legacies 177 70 155 152 23
577
534
Shops and Trading 5 1 3 3 - 12 98
Fundraising Trading 9 4 8 8 1
30		 31
191 75 166 163 24
619
663
Charitable expenditure:
Major Service Provision 410 161 357 350 54
1,332
1,107
Policy, Communications and Voice 31 12 27 27 4
101
102
Research, Innovation and Systems
Change		 11 4 9 9 2
35
-
452 177 393 386 60
1,468
1,209
Total support costs 643 252 559 549 84
2,087
1,872

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39

Notes to the accounts

For the year ending 31 March 2025 (continued)

8. Employees

8. Employees
Group and Charity Employed Funded* 2025 2024
Staff costs consist of: £’000 £’000 £’000 £’000
Wages and salaries 14,271 67
14,338
13,553
Social security costs 1,422 7
1,429
1,291
Pension costs 1,184 5
1,189
1,101
16,877 79
16,956
15,945
Group and Charity 2025 2024
The average number of employees on full-time equivalent basis during the year was as
follows:		 No. No.
Fundraising 79
81
Direct service provision – employed 195
172
Direct service provision – funded * 1
1
Corporate support services 84
85
Retail trading 2
14
361
353

The average number of staff employed during the year was 409 (2024: 409).

*Funded employees represent staff in Young Lives vs Cancer care teams who are funded by Young Lives vs Cancer but are employed by local authorities or health trusts.

Redundancy / termination costs during the period totalled £179k (2024: £282k), which is comprised of redundancies £106k, compensation / settlement agreements £69k and retention payments £4k. At the year end, unpaid costs for redundancy totalled £100k (2024: £128k) funded by unrestricted free reserves.

Higher paid employees:

Higher paid employees:
Group and Charity 2025 2024
Employees receiving annual gross salaries in the following range: No. No.
£60,000 to £70,000 10
3
£70,001 to £80,000 2
1
£80,001 to £90,000 1
2
£90,001 to £100,000 5
4
£100,001 to £110,000 1
2
£110,001 to £120,000 1
-
£140,001 to £150,000 1
1

Key Management Personnel:

We consider our Executive team to be the key management personnel for the Charity.

Group and Charity 2025 2024
Key management personnel costs for the charity and group consist of: £’000
£’000
Wages and salaries 874
819
Social security costs 102
89
Pension costs 67
61
1,043
969

Trustees’ remuneration and expenses:

None of the members of the Board of Trustees received any remuneration. During the year, seven Trustees received reimbursements of travel and subsistence expenditure totalling £2,928 (2024: two Trustees, £1,852 for travel and subsistence).

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40

Notes to the accounts

For the year ending 31 March 2025 (continued)

9. Subsidiary companies

The Charity owns 100% of the issued share capital of CLIC Sargent Promotions Limited and CLIC Sargent Developments Limited. Additionally, the Charity controls the board of CLIC Sargent Lottery Limited and, therefore, the results are consolidated within these accounts. All of these Companies are incorporated in the United Kingdom.

CLIC Sargent Promotions Limited (Company number 00957520) buys new merchandise for resale and receives cause-related marketing income from corporate partners for the benefit of the charity.

CLIC Sargent Developments Limited (Company number 09106476) manages the design and build of new Homes from Home on behalf of the Charity.

CLIC Sargent Lottery Limited (Company number 10791106) holds lotteries and raffles on behalf of the Charity.

A summary of CLIC Sargent Promotions Limited's trading results for the year ended 31 March 2025 is as follows:

CLIC Sargent Promotions Limited 2025 2024
£’000 £’000
Turnover 156
316
Cost of sales (2) (33)
Gross profit 154
283
Administration expenses (43) (105)
Profit for the year 111
178
Balance brought forward at beginning of year - -
Gift Aid donation to the Charity (111) (178)
Balance carried forward at end of year - -
Total assets 428 415
Total liabilities (328) (315)
Net assets at 31 March 2025 100
100

A summary of CLIC Sargent Developments Limited's trading results for the year ended 31 March 2025 is as follows:

CLIC Sargent Developments Limited 2025 2024
£’000 £’000
Turnover -
(41)
Cost of sales -
40
Gross loss -
(1)
Administration expenses (4)
(4)
Loss for the year (4)
(5)
Balance brought forward at beginning of year (16)
(11)
Gift Aid donation to the Charity -
-
Balance carried forward at end of year (20)
(16)
Total assets 25
53
Total liabilities (45)
(69)
Net assets/(liabilities) at 31 March 2025 (20)
(16)

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41

Notes to the accounts

For the year ending 31 March 2025 (continued)

9. Subsidiary companies (continued)

A summary of CLIC Sargent Lottery Limited's trading results for the year ended 31 March 2025 is as follows:

CLIC Sargent Lottery Limited 2025 2024
£’000 £’000
Turnover -
33
Cost of sales (4)
-
Gross profit (4)
33
Administration expenses (5)
(7)
Profit/ (loss) for the year (9)
26
Balance brought forward at beginning of year -
-
Gift Aid donation to the Charity -
(26)
Balance carried forward at end of year (9)
-
Total assets 19
52
Total liabilities (28)
(52)
Net assets/(liabilities) at 31 March 2025 (9)
-

Sargent Cancer Care for Children (Charity number: 1085616, Company number: 04173873), CLIC – Cancer and Leukaemia in Childhood (Charity number: 802396, Company number: 02397331) and Child Cancer UK (Company number: 05877085) are companies limited by guarantee. They are dormant 100% subsidiaries of CLIC Sargent.

The Charity is also trustee of the following three unincorporated dormant charities: Cancer and Leukaemia in Childhood Trust

CLIC UK

CLIC International

All of the subsidiary companies have the same registered office address as the parent Charity, shown on the final page.

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42

Notes to the accounts

For the year ending 31 March 2025 (continued)

10. Tangible and Intangible Fixed assets

Group Intangibles Land Freehold
property		 Property
improvements		 Fixtures and
fittings		 IT hardware Total
£’000 £’000 £’000 £’000 £’000 £’000
Cost or valuation
At 31 March 2024 822 3,112 14,422 - 987 - 19,343
Additions 32 - 120 - 274 - 426
Disposals (586) (149) (230) -
(191)		 -
(1,156)
Transfers (11) 429 (718) 331 (869) 838 -
At 31 March 2025 257 3,392 13,594 331 201 838 18,613
Depreciation and amortisation
At 31 March 2024 659 - 2,436 - 590 - 3,685
Charge for year 65 - 287 - 173 - 525
Disposals (492) - (110) - (170) -
(772)
Change on transfer (8) - (75) 207 (517) 473 80
At 31 March 2025 224 - 2,538 207 76 473
3,518
Net book value
At 31 March 2025 33 3,392 11,056 124 125 365
15,095
At 31 March 2024 163 3,112 11,986 - 397 - 15,658

We have reviewed and created new fixed asset categories with depreciation rates that better reflect the life and nature of the assets. The impact on the reclassification is not material to prior periods therefore the change has been reflected via asset category transfers and depreciation change on transfer charged to the current year. The change to categories and depreciation is given in accounting policy Note 1(l).

Intangible assets included above comprise software development, database development and the website.

A legal charge is in place which is secured over Paul's House; no borrowing was secured against this property in the year.

Charity

The charity owns all of the assets of the Group. In the prior year some of the shops owned by the Charity were partially occupied by CLIC Sargent Promotions Limited for the sale of new merchandise. £19,116 of the net book value at 31 March 2024 was reclassified as investment property. The net book value of fixed assets of the Charity at 31 March 2024 was therefore £19k less than the group total above, giving a total of £15,639k.

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43

Notes to the accounts

For the year ending 31 March 2025 (continued)

11. Investments

(a) Fixed Asset Investments Group Group Charity
2025 2024 2025 2024
£’000 £’000 £’000 £’000
Charity investment in subsidiaries - - 100 100
Investment properties - 125 - 144
- 125 100 244

The Charity has a £100,001 investment in the subsidiaries CLIC Promotions (£100,000) and CLIC Developments (£1). This is unchanged from 2024. Investment properties held at a value of £125k at 31 March 2024 were sold during the financial year.

(b) Current Asset Investments

Listed
Group and Charity investments Total
£’000 £’000
Market value at 1 April 2024 and at 31 March 2025 14 14
Historical cost 24 24

It is the intention to sell shares in commercial investments in the future, once conditions are favourable. Sales proceeds will not be reinvested in new investments.

(c) Investments in subsidiaries (see Note 9)

Subsidiary name % Share Trading activity
a) CLIC Sargent Promotions Limited 100% Buys new merchandise for resale and receives
corporate advertising income.
b) CLIC Sargent Developments Limited 100% Manages the design and build of new Homes
from Home on behalf of the Charity.
c) CLIC Sargent Lottery Limited N/A Set up to run lotteries and raffles on behalf of
the parent Charity. This is a Company limited by
guarantee with no share capital but is controlled
by the parent charity.
c) Sargent Cancer Care for Children 100% Dormant
d) CLIC-Cancer and Leukaemia in Childhood 100% Dormant
e) Child Cancer UK N/A Dormant

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44

Notes to the accounts

For the year ending 31 March 2025 (continued)

12. Debtors

12. Debtors
Group Charity
2025 2024 2025 2024
£’000 £’000 £’000 £’000
Other debtors 273 565 197
563
Amounts owed by group undertakings - - 390
371
Prepayments and accrued income 5,349 3,432 5,319 3,418
5,622 3,997 5,906 4,352

Included within prepayments and accrued income is £309k (2024: £368k) of accrued income for the Improving Lives Project and the Mel White Foundation which are to be released over more than one year.

13. Creditors: amounts falling due within one year

13. Creditors: amounts falling due within one year
Group Charity
2025 2024 2025 2024
£’000 £’000 £’000 £’000
Trade creditors 374 481 374
481
Taxation and social security 370 431 370
378
Other creditors 287 142 287
142
Accruals 600 1,197 588 1,185
Deferred income* 703 719 703
719
2,334 2,970 2,322 2,905
Deferred income Group Charity
£’000 £’000
Balance at 1 April 2024 719 719
Amount released in the year (719) (719)
Amount deferred in the year 703 703
Balance at 31 March 2025 703 703

14. Creditors: amounts falling due after one year

14. Creditors: amounts falling due after one year
Group Charity
2025 2024 2025 2024
£’000 £’000 £'000 £'000
Dilapidation provision - 61 - 61

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45

Notes to the accounts

For the year ending 31 March 2025 (continued)

15. Analysis of net assets between funds

Fund balances at 31 March 2025 are represented by:

Fund balances at 31 March 2025 are represented by:
Unrestricted Restricted
Group Funds Funds Total
£’000 £’000 £’000
Tangible fixed assets 15,095 - 15,095
Net current assets 7,385 2,286
9,671
Net assets 22,480 2,286
24,766
Fund balances at 31 March 2024 are represented by:
Unrestricted Restricted
Group Funds Funds Total
£’000 £’000 £’000
Tangible fixed assets 15,658 - 15,658
Fixed asset investments 125 - 125
Net current assets 7,777 2,014
9,791
Long-term liabilities (61) -
(61)
Net assets 23,499 2,014
25,513

16. Restricted funds

Restricted funds at 31 March 2025 are represented by:

Balance
Balance Transfers
31 March
Group 1 April 2024 Income Expenditure between funds 2025
£'000 £'000 £'000 £'000 £'000
Newcastle Home From Home 860 - -
-
860
Nottingham Home from Home 86 - (1) (85)
-
Accommodation 370 571 (435) -
506
Social Workers - 214 (214) - -
Grants 28 379 (46) -
361
Projects 646 193 (280) -
559
Regional 24 410 (537) 103 -
2,014 1,767 (1,513) 18
2,286

Restricted funds at 31 March 2024 are represented by:

Balance
Balance Transfers 31 March
Group 1 April 2023 Income Expenditure between funds
2024
£'000 £'000 £'000 £'000 £'000
London Home from Home 32 - (32) - -
Newcastle Home From Home 862 - -
(2)
860
Nottingham Home from Home 86 - -
-
86
Accommodation 479 235 (344) -
370
Social Workers 32 435 (467) - -
Grants 21 65 (58) -
28
Projects 277 746 (377) -
646
Regional - 375 (351) -
24
1,789 1,856 (1,629) (2) 2,014

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46

Notes to the accounts

For the year ending 31 March 2025 (continued)

16. Restricted funds (continued)

London Home from Home Fund represents restricted funds for major development work on our Home from Home in London, Paul's House. This fund was spent down fully in 2023/24.

Newcastle Home from Home Fund represents restricted funds for the purchase of and development of a new accommodation in Newcastle upon Tyne. This is now being actively pursued and the purchase and appropriate upgrades to the chosen property or properties will be completed in 2025/26. A balance of the fund will be retained for a short period for future running costs associated with the property or properties.

Nottingham Home from Home represents funds to support capital development at our Nottingham Home from Home. This work was completed in 2024/25.

Accommodation includes funds to be spent on running costs at specific Homes from Home.

Social Workers represent funds restricted to support the costs of our Social Worker teams.

Grants represent funds to be provided to families and young people. This includes funding for specific grant types or funding for grants in specific geographical areas.

Projects represents funding secured for other specific projects.

Regional represents funding received that must be spent within a specific geographical area of operation. This funding has no further restrictions.

Transfers between Funds: The Newcastle Home from Home transfer of £85k is to fixed asset reserves which represents capital expenditure. Once the capital expenditure has been incurred the restrictions are considered to be fulfilled.

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Notes to the accounts

For the year ending 31 March 2025 (continued)

17. Restricted fund contributions

We are grateful to all our donors for their support. We acknowledge the following contributions:

2025
£’000
City Bridge Foundation
The funding arm of the City of London Corporation's 13 Helping young
cancer
patients		 from London, and their
Charity, Bridge House Estates (Charity no. 1035628) families, to cope with the costs of cancer. families, to cope with the costs of cancer. families, to cope with the costs of cancer. families, to cope with the costs of cancer.
Lloyds Bank Foundation for the Channel 19 Towards the salary of a social worker Towards the salary of a social worker
Islands
Scottish Government’s Children, Young 124 Towards organisational core costs in Scotland Towards organisational core costs in Scotland Towards organisational core costs in Scotland
People, Families and Adult Learning Third
Sector Fund
Department of Health Northern Ireland - 96 To support the implementation of the DoH’s Cancer Strategy
Core Grant Scheme in Northern Ireland to ensure children and young people with
cancer receive the equitable, high-quality cancer care they
deserve.
The National Lottery Community Fund
NeCOMMUNITY
FUND		 Balance
1 April 2024
Income
Expenditure
Balance
31 March 2025
£’000
£’000
£’000
£’000
~~SE~~
Northern Ireland (Improving Lives Project) 486 - (132) 354
Scotland (Empowering Young People 3 Project) 75 - (75) -
Total 561 - (207) 354

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Notes to the accounts

For the year ending 31 March 2025 (continued)

18. Unrestricted funds

Free and Designated funds at 31 March 2025 are represented by:

Balance Transfers Balance
Group 1 April 2024 Income Expenditure between funds
31 March 2025
£’000 £’000 £’000 £’000 £’000
Free Reserves 6,121 24,151 (23,897) (71) 6,304
Designated funds:
Fixed Asset Reserve 15,658 - (525) (38) 15,095
New Finance System 743 - (470) -
273
New Customer Relationship Management System 427 - - (427)
-
Future Services Investment Fund 203 - (179) -
24
Technology Infrastructure Investment Fund 264 - - (264)
-
Technology Roadmap Fund - - (81) 691
610
Designated Grants - - - 93
93
Other 83 - - (2)
81
17,378 - (1,255) 53
16,176
Total 23,499 24,151 (25,152) (18) 22,480

Free and Designated funds at 31 March 2024 were represented by:

Balance Transfers Balance
Group 1 April 2023 Income Expenditure between funds
31 March 2024
£’000 £’000 £’000 £’000 £’000
Free Reserves 8,335 21,213 (23,279) (148) 6,121
Designated funds:
Fixed Asset Reserve 16,078 - (515) 95 15,658
New Finance System 800 - (57) -
743
New Customer Relationship Management System 431 - - (4) 427
Future Services Investment Fund 542 - (339) -
203
Technology Infrastructure Investment Fund 264 - - -
264
Other 288 - (264) 59 83
18,403 - (1,175) 150
17,378
Total 26,738 21,213 (24,454) 2
23,499

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Notes to the accounts

For the year ending 31 March 2025 (continued)

18. Unrestricted funds (continued)

Fixed Asset Reserve – The Trustees have set aside funds to cover the net book value of tangible fixed assets, excluding those assets included within restricted funds.

New Finance system - A new system is required in order to drive efficiency and improve processes within the organisation. This project commenced in 2024/25 and will be completed in 2025/26.

New Customer Relationship Management System - This fund was designated to deliver a new CRM with enhanced capability. The balance of this fund has been transferred to the Technology Roadmap Fund. The new CRM project commenced in 2025/26 with a view to being completed in 2026/27.

Future Services Investment Fund - This fund originally comprised of a number of elements of future planned spend to develop impact for our beneficiaries. This included foundational research on future needs and upweighting the capability in our Policy, Communications & Voice team to maximise the impact of this research and our wider campaigning. It has almost been fully utilised by the end of 2024/25. The balance will be spent in 2025/26.

Technology Infrastructure Investment Fund - This fund was originally set up to secure specialist resource to start to develop and implement our technology capability & infrastructure to our organisational strategy. The balance of this fund has been transferred to the consolidated Technology Roadmap Fund.

Technology Roadmap Fund - In 2024/25, the charity launched a three-year Digital Transformation Programme to update a number of the organisation's legacy systems and significantly improve our data management and impact. The balances of the Technology Infrastructure Investment Fund and the New Customer Relationship Management System funds have been transferred to this new fund.

Designated Grants - This fund was setup to capture internal allocation of funds to utilise on our beneficiary Grants Programme.

Other - The £2k transfer is made up of £135k added from Free Reserves in 2024/25 to fund hardware replacement; £137k was spent on this fund in the year.

Transfers between funds: The £38k transfer to the fixed asset reserve represents £425k of fixed asset additions (including £2k of additions from Other funds for hardware replacement), (£234k) of fixed asset disposals and £42k of gains from the reclassification of fixed assets undertaken in the year.

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Notes to the accounts

For the year ending 31 March 2025 (continued)

19. Commitments

As at 31 March 2025 there were future minimum lease payments under non-cancellable operating leases for each of the following periods:

each of the following periods:
2025 2024
Group Land and
buildings
Land and
buildings
£’000 £’000
Total commitments due:
Within one year 284
360
Within two to five years 653
1,052
937
1,412

The value of capital commitments at 31 March 2025 was £nil (2024: £nil).

None of the Group's operating leases was determined to be onerous at year end 2025 (2024: two totalling £188k).

20. Grants

Grants to individuals, including comparative information are included in the table below.

No grants were made to organisations in the year (2024: no grants were made).

Grants awarded to families and young people in the period were as follows:

2025 2024
Group £’000 No. of grants £’000 No. of grants
Registration 305 3,056
285		 2,860
Compassionate 36 119
33		 110
Financial Hardship 387 1,582
377		 1,443
Crisis Grant - -
113		 370
Other 20 132
33		 274
748 4,889 841 5,057

Of the grants awarded, £14k was unpaid at 31 March 2025 (2024: £13k).

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Notes to the accounts

For the year ending 31 March 2025 (continued)

21. Reconciliation of net expenditure to net cash flow from operating activities

Group 2025 2024
£’000 £’000
Net expenditure for the year (747) (3,014)
Adjustments for:
Depreciation charges 605
517
Interest received (231) (136)
(Profit) on the disposal of fixed assets (912) (2)
Loss on the disposal of investment property 10
-
Donation of investment property - (125)
Decrease in stock - 26
Decrease in debtors (1,625)
788
(Decrease) in creditors (697) (116)
Net cash used in operating activities (3,597) (2,062)

22. Analysis of cash and cash equivalents

At 1 April At 31 March
Group 2024 Cash flows 2025
£’000 £’000 £’000
Cash at bank and in hand 8,248 (2,147) 6,101
Cash held on long term deposit 502 (234) 268
8,750 (2,381) 6,369

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Notes to the accounts For the year ending 31 March 2025 (continued)

23. Related party transactions

Key Management Personnel

The Charity pays Coleid Limited for consultancy services. Trustee Kevin Smith is a Director of Coleid Limited. During the year the Charity paid Coleid Limited £29,842 (2024: £14,400).

The Group pays Sayer Vincent for the compilation of the annual corporation tax returns. Trustee Farrah Kitabi is a Partner at Sayer Vincent. During the year the Group paid Sayer Vincent £3,612 (2024: £3,655). These amounts were accrued at year end in both years.

Subsidiaries

Transactions between the parent charity Young Lives vs Cancer, and the subsidiaries, CLIC Sargent Developments Limited, CLIC Sargent Promotions Limited and CLIC Sargent Lottery Limited, are as follows:

Management fee payable to the Charity for staff and support services provided to the subsidiaries: £37,823 (2024: £98,533) from CLIC Sargent Promotions Limited; £653 (2024: £1,047) from CLIC Sargent Developments Limited; and £1,212 (2024: £3,770) from CLIC Sargent Lottery Limited.

VAT paid by the Charity on behalf of CLIC Sargent Promotions Limited: £13,840 (2024: £58,241).

Profits in the subsidiaries to be donated to the Charity: £110,908 (2024: £177,684) from CLIC Sargent Promotions Limited; £nil (2024: £26,092) from CLIC Sargent Lottery Limited; and £nil (2024: £nil) from CLIC Sargent Developments Limited.

Balances repayable at the year end: £323,902 (2024: £258,351) to the Charity from CLIC Sargent Promotions Limited; £40,783 (2024: £64,315) to the Charity from CLIC Sargent Developments Limited; and £24,897 (2024: £47,972) to the Charity from CLIC Sargent Lottery Limited.

24. Financial assets and liabilities

Group Note 2025 2024
£’000 £’000
Financial assets measured at fair value through profit or loss:
Investments in liquid equity instruments 11b 14
14
Financial assets measured at amortised cost:
Accrued income and other debtors 4,570 2,477
Cash at bank and in hand 22 6,101 8,248
Cash held on long term deposit 22 268
502
Financial liabilities measured at amortised cost:
Trade creditors and accruals due in less than one year 13 974 1,678

25. Post balance sheet events

There are no post balance sheet events to report.

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Notes to the accounts For the year ending 31 March 2025 (continued)

Reference and administrative details

Registered name of the Charity CLIC Sargent Cancer Care for Children Trading as Young Lives vs Cancer Charity number 1107328 OSCR number SC039857 Company number 05273638

The Trustees of CLIC Sargent are the Charity’s Trustees under Charity law and the Directors of the Charitable Company.

Members of the Board

Sir David Haslam - Chair

Simeon Baker (Appointed March 2025) Sathya Bala (Resigned December 2024) Sarah Blackmore Karen Eccles (Resigned December 2024) Daniel Farag Stephen George (Resigned March 2025) Anna Hancock - Treasurer Rachel Hollis Emma Kendrew (Appointed March 2025) Farrah Kitabi Niamh Lawlor (Resigned December 2024) Corinne Mills (Appointed March 2025) David Mphanza (Appointed March 2025) Kevin Smith

Finance Committee

Anna Hancock - Chair Dominique Davis (Resigned December 2024) Tony Dowrick Stephen George (Resigned March 2025) Sir David Haslam Rachel Kirby-Rider Niamh Lawlor (Resigned December 2024) Kevin Smith Richard Whiteside Emma Kendrew (Appointed March 2025)

Audit and Risk Committee

Farrah Kitabi - Chair Simeon Baker (Appointed March 2025) Sarah Blackmore Daniel Farag Luke Vile

Governance and People Committee

Rachel Hollis - Chair David Evans Rachel Kirby-Rider Emily Godson (Appointed September 2024) Katherine Gansallo (Appointed Febrauary 2025) Anna Hancock Sir David Haslam Corinne Mills (Appointed March 2025) Jenny Turner (Resigned October 2024)

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Notes to the accounts

For the year ending 31 March 2025 (continued)

Reference and administrative details (continued)

Safeguarding Committee

Sarah Blackmore - Chair

Lynn Charlton Dominique Davis (Resigned December 2024) Karen Eccles (Resigned December 2024) Greg Edwards Shazia Ellahi (Resigned August 2024) David Evans Sir David Haslam Rachel Hollis Becky Lowes (Appointed November 2024) David Mphanza (Appointed March 2025) Jenny Turner (Resigned October 2024)

Executive officers

Chief Executive

Rachel Kirby-Rider

Director of Research, Innovation & Systems Change (previously Chief Innovation) Helen McShane

Director of Corporate Services

Tony Dowrick

Director of Income Generation (previously Director of Income and Engagement)

Sue Collins (Appointed February 2025) Dominique Davis (Resigned December 2024)

Director of Services

Lynn Charlton

Director of People and Learning

David Evans

Director of Strategy and Governance, Company Secretary

Jenny Turner (Resigned October 2024 and Director role disestablished)

Director of Policy, Communications and Voice (previously Director of Policy, Influencing and Voice) Helen Gravestock

Director of Data, Digital and Technology

David Minahan (Appointed December 2024)

Company Secretary

Emily Godson, Associate Director of Corporate Governance and Assurance (Appointed 25 September 2024)

Founders

Sylvia Darley OBE - Sargent Cancer Care for Children

Bob Woodward - CLIC – Cancer and Leukaemia in Childhood

Honorary Presidents

Gordon Morrison

Vice Presidents

Francesca and Andrea Brignone Sara and Massimo Carello Rachel Woodward Carrick Laura and Johnny Greenall Jake and Harriet Humphrey Nicola and Jonathan Plumtree

CLIC Sargent Cancer Care for Children - Annual Report and Accounts

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Notes to the accounts

For the year ending 31 March 2025 (continued)

Reference and administrative details (continued)

Ambassadors

Phil Dunster Portia Jett Christine Lampard Ore Oduba Ryan Peniston Gaby Roslin

Principal professional advisers

Solicitors IBB Solicitors Capital Court 30 Windsor Street Uxbridge Middlesex UB8 1AB Bates Wells & Braithwaite London LLP 10 Queen Street Place London EC4R 1BE Bankers Barclays Bank 1 Churchill Place London E14 5HP Royal Bank of Scotland 1st Floor, 440 Strand London WC2R 0QS Lloyds TSB Bank Plc 25 Gresham Street London EC2V 7HN External auditors Crowe U.K. LLP Statutory Auditor 4th Floor, St James House St James' Square Cheltenham GL50 3PR Internal auditors Determined according to scope of internal audit requirements

Principal and Registered office

4th Floor, Whitefriars Lewins Mead Bristol, BS1 2NT

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