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2020-12-31-accounts

Registered Company No: 05416311

Wessex Cancer Trust Report and Financial Statements For the Year Ended 31 December 2020

(A Company Limited by Guarantee) Registered Charity No: 01110216

Wessex Cancer Trust

Report and Financial Statements

Contents

Report of the trustees 1-12
Independent auditor’s report 13-15
Consolidated statement of financial activities 16
Consolidated and trust balance sheets 18
Consolidated statement of cash flows 19
Notes to the financial statements 20-36

Wessex Cancer Trust (Registered Company No: 05416311)

Report of the Trustees (including directors’ report)

Chair’s Summary

Welcome to our 2020 Annual Report and Accounts. Although 2020 was a difficult year for everyone, Wessex Cancer Trust has risen to the challenge presented by the worldwide pandemic, adapting services so that we can continue to support thousands of people who have needed our help more than ever. Research consistently shows that people with cancer and their loved ones need emotional and wellbeing support, but it can be difficult to access.[1] Our services remain a vital part of the local cancer provision, complementing what is offered by NHS and other charities.

The year began in the midst of an emergency fundraising appeal. The Appeal was launched at the end of 2019 to address financial vulnerabilities resulting from reduced legacy notifications, coupled with declining high street sales in our retail operations. We are hugely grateful to our supporters who responded generously, donating £300k (£214k 2019; £86k 2020). Although our appeal target was not reached, we were able to restructure our operations to reduce fixed costs, and this positioned us well for the challenges that were to come.

The impact of Covid on our income generation, was seen from February onwards. Events and community fundraising, and our charity shops, faced enormous challenges as the country was impacted by restrictions and a series of lockdowns.

In response, we reviewed and refocused our resources to maximise the opportunities for special Covid grants from trusts and government grant schemes such as Furlough and the Retail, Leisure and Hospitality grants. We’re grateful to these grant-givers and the many supporters who continued to donate or organise their own activities to raise money.

Income was further impacted by continued delays in the probate courts and legacy income was considerably lower than previous years at £72,237 (2019: £310,362).

The year ended with gross income of £1,302,940 (2019 £1,955,994). However, we also implemented robust cost control measures across the organisation, significantly reducing expenditure, leaving a net loss of £102,784 (2019: £9,894 surplus), thereby reducing our reserves from £468,790 at the end of 2019 to £366,006 at the end of 2020.

The approach taken in 2020 has enabled us to establish strong foundations on which to build our future financial resilience and the first two quarters of 2021 have given us much cause for optimism. We have been well positioned to maximise income generating opportunities as restrictions have eased and early indications suggest 2021 will be an exceptional year for legacy income.

As Covid dominated health services, people with cancer and their families faced additional fear and uncertainty. With many people turning to Wessex Cancer Trust for emotional support,

1 Right by You research conducted by Macmillan and Wessex Cancer Alliance.

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Wessex Cancer Trust (Registered Company No: 05416311)

Report of the Trustees (including directors’ report)

our services were more important than ever. When we were forced to temporarily close our doors on Friday 20 March, our dedicated team of staff and volunteers worked hard to adapt services over the weekend: by the following Monday, we were one of the first charities to be providing new remote support services via phone and online. During the year we continued to develop and refine these services, which included for example, telephone counselling, Taichi videos, online delivery of our Sing for Life choirs, and the launch of a new website and online support groups that have thrived while the centres have remained closed. In this way the pandemic has expedited plans to develop remote services that will have a wider demographic reach. As face to face services are gradually re-opening, we are reviewing how we offer a hybrid delivery of services.

Throughout 2020 we continued to run our Daisy buses, with additional Covid-safe measures in place, to support cancer patients from the Isle of Wight and the Channel Islands. We have also pursued our goal of offering more personalised care to clients and with funding provided by the Linbury Trust, we implemented plans to recruit a new role of Wellbeing Co-ordinator, who started work in early 2021.

None of these achievements would be possible without our team of committed and passionate staff and volunteers, to whom we owe a debt of gratitude.

The year saw some change in personnel, notably the departure of Chief Executive, Cait Allen, who left the charity in June. The Trustees thank her for 5 years dedicated service. Our new CEO Rachel Billsberry-Grass, joined on 1 July, bringing many years’ experience in senior voluntary sector roles. The charity has been further strengthened with the appointment of a number of other key roles and Trustees.

Despite the incredible challenges in 2020, we finished the year having continued to support thousands of people who need our services across the region, and in a strong position to rebuild finances and further develop our services. In 2021 we celebrate 40 years of Wessex Cancer Trust services, and the Trustees are optimistic and excited about the future.

From all of us, thank you to the thousands of people across the region and beyond who are, or have been, part of the Wessex Cancer Trust family.

Diane Cutler, Chair

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Wessex Cancer Trust (Registered Company No: 05416311)

Report of the Trustees (including directors’ report)

Our Approach to Safeguarding

ln 2018 the Charity Commission underlined that charities must be trusted places where people can feel safe. At Wessex Cancer Trust we have Safeguarding policy and procedures for Adults and Children, which reflect current legislation such as The Mental Capacity Act 2005, Safeguarding Vulnerable Groups Act 2006 and the Care Act 2014. The Multi-Agency Safeguarding Adults Policy and Guidance (June 2020) developed by the Safeguarding Adults Boards in Hampshire, Southampton, Isle of Wight and Portsmouth, informs our training for staff and volunteers. Our CEO is our Safeguarding Lead, supported by the Head of Services who provides continued oversight and review of all safeguarding concerns, reporting to the Services Work Group and the Board.

Our Approach to Fundraising

Wessex Cancer Trust is a member of the Fundraising Regulator and adheres to fundraising codes of practice. We employ a team of Fundraisers who work across the region. During the year we have sought to implement a broader fundraising portfolio to mitigate the risks presented by an uncertain external environment.

On occasion we use external agencies to deliver fundraising activities. All activity is delivered to service level agreements which are monitored through regular meetings, mystery shopping and review of complaints. Agencies are contractually required to ensure all fundraising activity is in accordance with all applicable legal requirements and the relevant binding codes of practice issued by the Fundraising Regulator. Professional fundraising agencies must have clear and up to date policies in place to protect vulnerable people and other members of the public from unreasonable behaviour. In 2020 no complaints about Wessex Cancer Trust fundraising practices or activities were received by the fundraising regulator.

Public Benefit

ln reviewing our aims and objectives and planning our future activities, we have referred to and complied with the duty in section 17 of the Charities Act 2011. This relates to having due regard to the Charity Commission's published general guidance on public benefit. ln particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set. Our priorities are:

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Wessex Cancer Trust (Registered Company No: 05416311)

Report of the Trustees (including directors’ report)

Our Achievements and Performance

A cancer diagnosis is devastating. We offer emotional and practical support to help improve the wellbeing of people with cancer and their loved ones.

Our values are Support, Inform, Community and Thrive and this section outlines how we put these values into practice in 2020.

Cancer Support Centres

The Trust has four Cancer Support Centres. Until March they were open throughout the week to welcome drop-in or referred visitors. The Centres are in:

Newport, Isle of Wight Chandlers Ford, Hampshire Hythe, Hampshire Bournemouth, Dorset

Clients are welcomed by trained volunteer Befrienders, who have a depth of understanding based on their own experiences. Their role is to provide emotional support. They are also able to explain the range of services on offer and can arrange follow up appointments for services which include counselling, complementary therapies, information, exercise and courses. In late 2020, the Linbury Trust agreed 3-year funding for the role of Wellbeing Co-ordinator and from January 2021 all new clients are meeting with the Wellbeing Co-ordinator to agree a personalised care plan. This is enabling us to give clients a more consistent experience, improve efficiency and enable us to better monitor and evaluate.

Covid has dramatically impacted the way we have delivered services in 2020. At news of the first lockdown in March, we responded with great agility and were quickly able to deliver remote support, including befriending, counselling and group sessions. This was vital given the impact of the pandemic on cancer services, with many people seeing delays in diagnostic testing and operations. Vulnerable cancer patients were facing more acute fear and uncertainty about Covid, and many people turned to Wessex Cancer Trust for emotional support.

With the Centres closed for the rest of the year, remote services have continued to be developed and refined. In 2021, the Trust aims to safely reopen all Centres, and will continue to explore ways of using a blended provision of remote and in-person services to reach more people in different demographics, a key aim for the Board.

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Wessex Cancer Trust (Registered Company No: 05416311)

Report of the Trustees (including directors’ report)

Island Support

In addition to the Centre in Newport, the Trust continues to cater for the particular challenges of cancer patients from the Isle of Wight and the Channel Islands by providing the Daisy Buses in Southampton and Portsmouth. The buses offer free transport for patients, to and from the ports, hotels and hospitals.

Singing Groups

Many studies have shown the benefits of singing for both physical and mental health. Wessex Cancer Trust runs three popular choirs for people living with cancer and their loved ones, engaging around 140 singers. The groups are strong communities which also provide peer support. At the start of the pandemic our dedicated choir leader shifted to Zoom delivery of sessions and since then we have offered an uplifting weekly session attended by around 50 people.

Information

During 2020 the Trust developed and launched a new and improved website. It continues to be refined and developed with the recent launch of online forums following a successful pilot of a Facebook forum.

NHS Trust Partnerships - Outreach

Partnerships are an important part of our work and the Trust worked with a number of NHS hospitals during the year. Our counselling services for patients in Southampton General, Portsmouth and Basingstoke Hospitals continued throughout the year; we are also contracted to provide complementary therapies in Bournemouth Hospital, but saw many fewer referrals during 2020 due to the pandemic.

Wessex Cancer Alliance and other Cancer networks

The Trust’s CEO and Head of Services represent the charity on key boards and working groups. These include the Personalised Care Programme Board run by Wessex Cancer Alliance and the Dorset Macmillan Cancer Information Services project run by the Dorset Cancer Partnership. In so doing we build partnerships, influence the local cancer agenda, and advocate for our clients.

Retail

The Trust has a wholly owned trading subsidiary, WCT Wessex Limited, through which it operates a number of retail outlets. The Covid pandemic caused a year of disruption and uncertainty: as a non-essential retailer our shops were closed for sustained periods during the year, or otherwise affected by Covid restrictions.

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Wessex Cancer Trust (Registered Company No: 05416311)

Report of the Trustees (including directors’ report)

In response, the company has accessed all the available government support grants and focused on reducing costs and increasing profitability and Gift Aid income when open. In addition, during the year the company launched an online shop on the platform Thriftify, and dedicated time and effort to increasing sales from eBay. Inclusive of these efforts, despite the challenges of 2020, the company is reporting a profit of £37,652 for the year (2019: £33,639 loss).

Following closure of two shops in 2019, we completed the closure of the Cosham shop in summer 2020. Our current retail outlets are in:

Weeke, Winchester Chandler’s Ford Freshwater, Isle of Wight Hythe Portchester

We rely on the donations of second-hand goods for our shops, and we thank all those who have given support, either by donating or buying items.

Fundraising

In recent years we have seen great success in community and events fundraising, but these income streams saw the biggest impact as a result of the pandemic. As we worked to mitigate the impact of the pandemic, resources were reviewed and refocused to maximise the potential of trust fundraising in particular, and begin to develop our major donor, individual giving and corporate fundraising. With this additional resource and Covid-related support available from many trusts, we saw income from this area increase to £214,819 (2019: £169,875).

We are so grateful to all those individuals, organisations, clubs, schools and companies that supported the charity during 2020.

Colleagues and Volunteers

The Trustees thank all the staff and volunteers who have helped the charity to achieve tremendous results for people with cancer and their loved ones, despite the numerous challenges that 2020 presented.

In July we welcomed our new Chief Executive, Rachel Billsberry-Grass, who brought many years’ experience in senior voluntary sector roles. This followed the departure of Cait Allen, who left the charity in June. The Trustees are grateful to Cait for her dedication and commitment over the previous 5 years.

Volunteers are the lifeblood of Wessex Cancer Trust and it is a regret that lockdowns have meant there were fewer opportunities for us to engage with our 225-strong volunteer workforce in person. We are grateful to those that have volunteered when the opportunity arose, whether that was to provide remote counselling or befriending, running a walking

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Wessex Cancer Trust (Registered Company No: 05416311)

Report of the Trustees (including directors’ report)

support group, helping in our shops, attending one of the handful of events or providing officebased support. Volunteers are carefully vetted and trained and in 2020 we offered refresher listening skills training for remote support; safeguarding training; and training in Covid risk management.

Financial review

Total gross income was £1.303m in 2020 (2019: £1.956m). The reduction in income reflected the required closure of our shops at various points through the year as a non-essential retailer, partly mitigated by the receipt of furlough income and other direct government support. In addition, community and event fundraising income was similarly disrupted by Covid restrictions. Income from legacies in the financial year was £72,237 (2019: £310,362), reflecting the timing of notification of the limited number of bequests the Trust receives.

A total of £633,598 was spent on raising funds (2019: £952,927) and expenditure on charitable activities amounted to £772,111 (2019: £999,030).

The charity remains dependent on voluntary income but as noted above was able to access various special Covid government grants during 2020, in addition to a loan of £50,000 from the Bounce Back Loan Scheme. The end of year outcome was a deficit of £102,784 (2019: £9,894 surplus).

The financial management of the charity has been a top priority for the new team who closely monitor finances and maintains an 18-24 month cashflow forecast taking into consideration other industry sector, market and internal factors. Results since the year end have given reason to feel optimistic about the medium to long term forecasts: this has been due to a robust cost-saving exercise, a review of and implementation of changes to our income generation activities, and the comprehensive accessing of available government grants and insurance cover. We have also had some very promising news about three future residual legacies and other non-fundraising income is expected imminently.

The Trustees are confident that the proactive action that has been taken and the expected recovery of trading and charitable income in the coming year will protect the long-term future of the Trust. Based on all available information the Trustees have a reasonable expectation that the Trust will be able to continue in operation and meet its liabilities as they fall due for the foreseeable future, being a period of at least one year from the date of this report. Therefore the Trust continues to adopt the going concern basis of accounting.

Reserves Policy

Free reserves are funds that are readily realisable and exclude funds whose use is restricted or designated for a particular purpose. It also excludes funds invested in fixed assets utilised in the day to day running of the charity.

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Wessex Cancer Trust (Registered Company No: 05416311)

Report of the Trustees (including directors’ report)

The scale of the challenge over the last year has meant a strong focus on short term liquidity which has continued into 2021. The charity aims to maintain a level of reserves to enable it to continue its operations in the event of an unforeseen shortfall in income or unexpected cost rises. As the charity rebuilds following the Covid pandemic, the Trustees will be reviewing the appropriate level of reserves the charity needs.

At the balance sheet date of 31 December 2020, the group total reserves were £366,006 (2019: £468,790) of which £130,901 (2019: £140,115) were restricted and not available for general purposes. Group free reserves at the balance sheet date were £235,105 (2019: £328,675).

Plans for Future Periods

Wessex Cancer Trust will continue to offer services to support emotional health and wellbeing for cancer patients and their loved ones within the Wessex region.

With the arrival of a new CEO in 2020, a short term strategy was developed which focuses on building financial stability and resilience for the charity, whilst developing a greater focus on personalised care for clients.

In 2021 we are reviewing our 5-year strategy to take account of learnings in service delivery gained during 2020. This will ensure our services remain relevant to the changing needs of our client group, and the wider cancer agenda.

We will also continue to carefully monitor and evaluate all income streams, developing further those that have the greatest potential for growth and sustainability.

Structure, Governance and Management

Background

The original Wessex Cancer Trust was established as a registered unincorporated charity (280133) under a Trust Deed dated 3 March 1980. In January 2005, the Board of Trustees decided to incorporate the charity. A new company, Wessex Cancer Trust, was incorporated under the Companies Act 1985 on 6 April 2005 and entered into the Central Register of Charities on 27 June 2005 with registered number 01110216. The assets and liabilities of the unincorporated Trust were transferred to the Company on 1 October 2005 when it commenced activities.

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Wessex Cancer Trust (Registered Company No: 05416311)

Report of the Trustees (including directors’ report)

Governing Documents

Wessex Cancer Trust’s Articles of Association currently define the objects of the charity as:

‘For the public benefit to assist in the treatment and care of persons affected by cancer, the provision of support, education and practical advice, including raising funds to; complement and improve cancer care services by supporting patients, families and carers;

providing education and information for patients, families and professionals; promoting cancer prevention; mainly throughout Wessex including Hampshire, Dorset, Wiltshire, the Isle of Wight and the Channel Islands.’

Governing Body

At 31 December 2020, the Governing Board comprised seven Trustees, who also form the membership of the Company. Every member promises to pay a sum not exceeding £10.00 towards the payments of debts and liabilities of the Company if it is dissolved while he or she is a member or within 12 months after he or she ceases to be a member.

New Trustees are recruited publicly and then elected by the Board based on having the attributes necessary to maintain the range of skills necessary for the effective direction of the Charity. Training for new Trustees includes receipt of a comprehensive induction pack and briefings from senior staff.

All Trustees who have served continuously for four years can choose to stand for re-election at the next Annual General Meeting. Trustees can serve a maximum of 2 four-year terms. Reelection is voted amongst all the members of the Charity to be completed at least 48 hours before the completion of the Annual General Meeting.

Decisions by the Board are made by simple majority, with the Chair taking the deciding vote in the event of a tie.

During 2020 the Trustee Board was strengthened with the arrival of 4 new Trustees, bringing a varied range of skills and experience including charity finance, insurance, cancer services in the NHS and psychology. With a high degree of disruption and uncertainty in 2020, the Board took a proactive involvement with the day to day running of the charity, holding weekly meetings from May to July, gradually reducing to bi-monthly once the new CEO had settled in.

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Report of the Trustees (including directors’ report)

Delegation

The Articles of Association permit delegation of Trustees’ powers to a committee of two or more Trustees. During 2020 the Trust had five sub committees:

Service Delivery Group Finance Group Development Group (Fundraising, Retail and Marketing) Business Continuity Group People Group

The Trustees appoint a Chief Executive who is responsible for the day-to-day operations of the Charity, working alongside department heads to deliver the Trust’s work.

Management of Risks

The Trust maintains a Risk Register, which is reviewed regularly at Board meetings. Mitigation plans are in place to reduce, as far as possible, the impact or likelihood of occurrence. Some risks could have significant impact on the charity and these are being addressed as a priority.

Remuneration

The People Group recommends any annual cost of living increases based on the Consumer Price Index. No cost of living increase was awarded in 2020 (2019: 2.4%). Any other salary increases are based on performance or advancement. Salaries for new roles are reviewed against market rates for similar roles in the charity sector.

Legal and Administrative information

Charity Name Wessex Cancer Trust Company Number 05416311 Charity Registered Number 01110216 Registered Office 91-95 Winchester Road Chandlers Ford Eastleigh SO53 2GG

The Directors of the charitable company are its Trustees for the purposes of charity law.

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Wessex Cancer Trust (Registered Company No: 05416311)

Report of the Trustees (including directors’ report)

The Trustees and Officers serving during the year and since the year end were as follows:

Board of Trustees Mr B Rinaldi – (resigned as Chair 19 August 2020) Mrs J Freeman (resigned 30 September 2020) Ms J Warwick Mr P Towler (appointed 5 February 2020, resigned 25 May 2020, re-appointed 1 July 2020) Mr N Pradhan (resigned 6 April 2020) Mr M Southgate (resigned 5 February 2020) Mrs L Darby (appointed 29 April 2020) Dr E Arden-Close (appointed 29 April 2020) Mrs D Cutler – Chair (appointed 13 May 2020, appointed Chair 19 August 2020) Mr M Miles FCA – Treasurer (appointed 1 December 2020) Mrs H Bodiam – Secretary (appointed 1 September 2020) Chief Executive Rachel Billsberry-Grass (appointed 1 July 2020) Peter Towler (interim: appointed 25 May 2020, resigned 1 July 2020) Cait Allen (resigned 16 June 2020) Legal Advisors Paris Smith LLP 1 London Road Southampton, SO15 2AE Bankers The Royal Bank of Scotland 156 High Street Southampton, SO14 2NP Co-Operative Bank PO Box 250 Delf House Skelmersdale, WN8 6WT Auditors Azets Audit Services Athenia House 10-14 Andover Road Winchester Hampshire, SO23 7BS

Trustees’ Responsibilities in relation to the Financial Statements

The Trustees (who are also directors of Wessex Cancer Trust for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company

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Wessex Cancer Trust (Registered Company No: 05416311)

Report of the Trustees (including directors’ report)

and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company and the group's transactions and disclose with reasonable accuracy at any time the financial position of the charitable group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Provision of information to auditor

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

Auditor

Azets Audit Services were appointed auditors to the group and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

This report was approved by the Trustees on 28 July 2021 and signed on their behalf by:

D Cutler Chair of Trustees

Date: 28 July 2021

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Wessex Cancer Trust (Registered Company No: 05416311)

Independent auditor’s report to the trustees of Wessex Cancer Trust

Independent auditor’s report to the trustees of Wessex Cancer Trust

Opinion

We have audited the financial statements of Wessex Cancer Trust (the ‘charitable parent company’) and its subsidiary (the ‘group’) for the year ended 31 December 2020 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK 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 charity 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 charity’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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Wessex Cancer Trust (Registered Company No: 05416311)

Independent auditor’s report to the trustees of Wessex Cancer Trust

Matters on which we are required to report by exception

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

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such 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 charity’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 144 of the Charities Act 2011 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.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. 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 design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding,

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

we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008 Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Ian Talbot Azets Audit Services 29 July 2021
Chartered Accountants Athenia House
Statutory Auditor 10-14 Andover Road
Winchester
Hampshire
United Kingdom
SO23 7BS

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Wessex Cancer Trust (Registered Company No: 05416311)

Consolidated Statement of Financial Activities (including income and expenditure account) for the year ended 31 December 2020

Unrestricted
Funds
Note
£
Income:
Donations
225,450
Legacies
2
72,237
Activities for raising funds
3
533,348
Other income
4
226,199
Investment income
5
121
Total income
1,057,355
Expenditure:
Costs of raising funds:
Costs of raising voluntary
income
8
197,147
Costs of activities for raising
funds
8
433,858
Expenditure on Charitable
activities:
Care
10
481,860
Education
10
40,041
Total expenditure
7
1,152,906
Net income/(expenditure)
before net (losses)/gains on
investments and tax
(95,551)
Net (losses)/gains on
investments
15
(15)
Taxation
24
-
Net incoming/(outgoing)
resources before
transfers
(95,566)
Transfers
20
1,996
Net movement in funds for the year
(93,570)
Fund balances brought
forward at 1 January
328,675
Fund balances carried
forward at 31 December
235,105		 Restricted
Funds

£
214,165
-
31,420
-
-
245,585
2,593
-
250,210
-
252,803
(7,218)
-
-
(7,218)
(1,996)
(9,214)
140,115
130,901		 Total
Funds
Year to
31-12-2020

£
439,615
72,237
564,768

226,199
121
1,302,940

199,740
433,858
732,070
40,041
1,405,709
(102,769)
(15)
-
(102,784)
-
(102,784)
468,790
366,006		 Total
FFunds
Year to
31-12-2019
£
530,096
310,362
1,115,536
-
-
1,955,994
243,482
709,444
949,056
49,974
1,951,956
4,038
5
5,851
9,894
-
9,894
458,896
468,790

The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities.

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Wessex Cancer Trust (Registered Company No: 05416311)

Consolidated Statement of Financial Activities (including income and expenditure account) for the year ended 31 December 2019

Note
Income:
Donations
Legacies
2
Activities for raising funds
3
Total income
Expenditure:
Costs of raising funds:
Costs of raising voluntary
income
8
Costs of activities for raising
funds
8
Expenditure on Charitable
activities:
Care
10
Education
10
Total expenditure
7
Net income/(expenditure)
before net (losses)/gains on
investments and tax
Net (losses)/gains on
investments
15
Taxation
24
Net incoming/(outgoing)
resources before
transfers
Transfers
20
Net movement in funds for the year
Fund balances brought
forward at 1 January
Fund balances carried
forward at 31 December		 Unrestricted
Funds
£
267,570
310,325
996,206
1,574,101
240,855
709,444
604,459
49,974
1,604,732
(30,631)
5
5,851
(24,775)
114,502
89,727
238,948
328,675		 Restricted
Funds

£
262,526
37
119,330

381,893

2,627
-
344,597
-
347,224
34,669
-
-
34,669
(114,502)
(79,833)
219,948
140,115		 Total
FFunds
Year to
31-12-2019
£
530,096
310,362
1,115,536
1,955,994
243,482
709,444
949,056
49,974
1,951,956
4,038
5
5,851
9,894
-
9,894
458,896
468,790

The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities.

17

Wessex Cancer Trust (Registered Company No: 05416311)

Consolidated and Trust Balance Sheets as at 31 December 2020

Note
Fixed assets
Tangible assets
14
Investments
15
Current assets
Debtors due within one year
16
Cash at bank and in hand
Creditors: amounts falling
due within one year
17
Net current assets
Total assets less current
liabilities
Creditors: amounts falling
due after more than one
year
18
Net assets
Funds
Restricted
20
Unrestricted
21
22		 Group
2020
2019
£
£
149,228
223,434
133
148
149,361
223,582
174,572
406,911
285,798
157,388
460,370
564,299
(186,429)
(302,659)
273,941
261,640		 Group
2020
2019
£
£
149,228
223,434
133
148
149,361
223,582
174,572
406,911
285,798
157,388
460,370
564,299
(186,429)
(302,659)
273,941
261,640		 Trust
Restated
(see note
6)
2020
2019
£
£
121,843
165,558
135
150
121,978
165,708
145,139
358,528
162,800
124,682
307,939
483,210
(157,124)
(276,617)
150,815
206,593		 Trust
Restated
(see note
6)
2020
2019
£
£
121,843
165,558
135
150
121,978
165,708
145,139
358,528
162,800
124,682
307,939
483,210
(157,124)
(276,617)
150,815
206,593
165,708
358,528
124,682
483,210
(276,617)
206,593
423,302
(57,296)
366,006
130,901
235,105
366,006		 485,222
(16,432)
468,790
140,115
328,675
468,790		 272,793
(56,229)
216,564
130,901
85,663
216,564		 372,301
(15,366)
356,935
140,115
216,820
356,935

The Trustees have prepared group accounts in accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2011. These accounts constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

The financial statements were approved by the Trustees on 28 July 2021 and signed on their behalf by:

Diane Cutler

18

Wessex Cancer Trust (Registered Company No: 05416311)

Consolidated Statement of Cash Flows for the year ended 31 December 2020

Group Group
Note 2020 2019
£ £
Cash generated from operating
activities 25 81,596 140,800
Cash flow from investing activities
Investment income 5 121 138
Sale of fixed assets 16,954 10,369
Purchase of tangible fixed assets 14 (20,261)
(116,045)
Cash used by investing activities (3,186)
(105,538)
Cash flow from financing
activities
Drawdown of loan 50,000 -
Increase in cash and cash
equivalents in the year 128,410 35,262
Cash and cash equivalents at the
beginning of the year 157,388 122,101
Total cash and cash equivalents at
the end of the year 285,798 157,363
Represented by:
Cash at bank 285,798 157,388
Analysis of changes in net debt:
At At
01-01-2020
Cash flows		 31-12-2020
£ £ £
Cash in hand 157,388 128,410 285,798
Borrowings excluding overdraft - (50,000) (50,000)
157,388 78,410 235,798

19

Wessex Cancer Trust (Registered Company No: 05416311)

Notes forming part of the financial statements for the year ended 31 December 2020

1 Principal accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.

The financial statements are prepared under the historical cost convention as modified by the inclusion of investments at market value.

Going concern

The financial management of the charity has been a top priority for the new team who closely monitor finances and maintains an 18-24 month cashflow forecast taking into consideration other industry sector, market and internal factors. Results since the year end have given reason to feel optimistic about the medium to long term forecasts: this has been due to a robust cost-saving exercise, a review of and implementation of changes to our income generation activities, and the comprehensive accessing of available government grants and insurance cover. We have also had very promising news about three future residual legacies and other non-fundraising income is expected imminently.

The Trustees are confident that the proactive action that has been taken and the expected recovery of trading and charitable income in the coming year will protect the long term future of the Trust. Based on all available information the Trustees have a reasonable expectation that the Trust will be able to continue in operation and meet its liabilities as they fall due for the foreseeable future, being a period of at least one year from the date of approving these financial statements.

In making their assessment the Trustees have considered the current and possible future impact of the COVID 19 pandemic on the operations of the Trust. The pandemic continues to create uncertainty and it is therefore difficult to fully evaluate the likely effect on the charitable company’s trade, customers, suppliers and the wider economy. However possible effects have been considered in reviewing the future results and cashflows and the trustees’ assessment at the date of approval of these accounts is that the pandemic does not create a material uncertainty related to going concern.

Therefore, the Trust continues to adopt the going concern basis of accounting in preparing the financial statements.

Group financial statements

The statement of financial activities and balance sheet consolidate the financial statements of the Trust, and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. A separate statement of financial activities and income

20

Wessex Cancer Trust (Registered Company No: 05416311)

Notes forming part of the financial statements for the year ended 31 December 2020

and expenditure account are not presented for the charity itself following the exemptions afforded by section 408 of the Companies Act 2006. The parent company's result for the financial year was a loss of £140,371 (year to 31 December 2019: £37,682 profit).

Fund accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Trust and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Trust for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Incoming resources

Donations and activities for generating funds are recognised in the period in which the Trust receives the income or when there is a reasonable assurance of receipt.

Income is deferred only when the Trust has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Legacies are included in the statement of financial activities on a receivable basis. Future estimated entitlements are included in Note 2 if they are not sufficiently probable to be included in the accounts.

Government grants

Government grants are reconciled at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as liability.

Investments and investment income

Investments held as fixed assets are stated at market value. Gains and losses on investments both realised and unrealised are included in the statement of financial activities. All income arising on investments is accounted for on a receivable basis.

Resources expended

All resources expended, including irrecoverable VAT, are charged against income on an accruals basis. Expenditure is allocated directly where the costs are directly attributable, otherwise on a basis of staff usage and their allocation of time.

21

Wessex Cancer Trust (Registered Company No: 05416311)

Notes forming part of the financial statements for the year ended 31 December 2020

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less their estimated residual value on a straight line basis over their expected useful economic lives as follows:

Leasehold Property over length of leases Motor Vehicles between 10% and 20% per annum Fixtures and Fittings between 15% and 33% per annum

No asset under £500 is capitalised.

Pensions

The Trust operates a group defined contribution pension scheme. Pension costs are charged to the Statement of Financial Activities as incurred.

Operating leases

Rental costs under operating leases are charged to the Statement of Financial Activities as incurred over the period of the leases.

2 Legacies

There is inherent uncertainty in the probate valuation of estates as a result of the nature of underlying assets and liabilities, the time that elapses between probate and closure and other contingencies that attend the estate. Legacies are recognised at the point of notification of grant of probate when it can be measured or estimated with sufficient reliability.

A total amount of legacy income of £72,237 (2019: £310,362) was recognised in the year, and a balance of £94,000 was included within debtors as at the year end, which included £56,000 brought forward from 2019.

22

Wessex Cancer Trust (Registered Company No: 05416311)

Notes forming part of the financial statements for the year ended 31 December 2020

3 Activities for raising funds

Fundraising events and appeals
Retail turnover (see note 6)
Fundraising events and appeals
Retail turnover (see note 6)
ther income
Government furlough scheme
Government Covid-related grants		 Unrestricted
Funds
£
240,360
292,988		 Restricted
Funds
£
31,420
-		 Total
31-12-2020
£
271,780
292,988
533,348 31,420 564,768
Unrestricted
Funds
£
320,263
675,805
996,068
Unrestricted
Funds
£
96,388
129,811		 Restricted
Funds
£
119,330
-
119,330
Restricted
Funds
£
-
-		 Total
31-12-2019
£
439,593
675,805
1,115,398
Total
31-12-
2020
£
96,388
129,811
226,199
226,199 -

4 Other income

No related income was received in 2019.

23

Wessex Cancer Trust (Registered Company No: 05416311)

Notes forming part of the financial statements for the year ended 31 December 2020

5 Investment income

Investment income
Bank interest
Investment income
Bank interest		 Unrestricted
Funds
£
2
119		 Restricted
Funds
£
-
-		 Total
31-12-2020
£
2
119
121 - 121
Unrestricted
Funds
£
2
136
138		 Restricted
Funds
£
-
-
-		 Total
31-12-2019
£
2
136
138

6 Income from trading activities of subsidiary

The Trust has a wholly owned trading subsidiary, W.C.T. Wessex Limited, which is incorporated in the UK, and whose principal activity is to carry on all of the trading activities for Wessex Cancer Trust.

Its trading results for the year, as extracted from the audited financial statements, are summarised below:

Profit and Loss Account
Turnover
Other income
Cost of Sales
Gross Profit
Expenses
Net Trading Loss before tax
Taxation
Net Trading Loss after tax
Amount gift aided to the Trust
Retained Loss		 Total
31-12-2020
£
292,983
178,525
(4,772)
466,736
(429,084)
37,652
-
37,652
(73,157)
(35,505)		 Total
31-12-2019
£
675,805
-
(10,593)
665,212
(698,851)
(33,639)
5,851
(27,788)
(65,752)
(93,540)

24

Wessex Cancer Trust (Registered Company No: 05416311)

Notes forming part of the financial statements for the year ended 31 December 2020

Note 6 continued

The prior year Trust balance sheet has been restated to correct the accounting for the distribution from the subsidiary. This restatement has no impact on the consolidated balance sheet at 31 December 2019 or 2020 or the consolidated statement of financial activities for the either period.

7 Total expenditure

Cost of generating funds (Note 8)
Provision of services (Note 10)
Support costs (Note 9)
Governance (Note 9)
Cost of generating funds (Note 8)
Provision of services (Note 10)
Support costs (Note 9)
Governance (Note 9)
ost of generating funds
Fundraising salaries
General fundraising costs
Trust organised event costs
Advertising and publicity
Shop and merchandising costs:
Salaries
Other		 Staff
costs
Depreciation
Other
Costs
Total
31-12-20
£
£
£
£
351,676
27,952
253,970
633,598
257,755
-
156,660
414,415
200,385
55,642
65,947
321,974
28,626
-
7,096
35,722
838,442
83,594
483,673
1,405,709
Staff
costs
Depreciation
Other
Costs
Total
31-12-19
£
£
£
£
436,727
83,505
432,695
952,927
348,467
-
231,415
579,882
171,144
76,986
140,344
388,474
24,449
-
6,225
30,674
980,787
160,491
810,679
1,951,957
Unrestricted
Funds
Restricted
Funds
Total
31-12-2020
£
£
£
151,123
155
151,278
13,671
-
13,671
19,611
-
19,611
12,742
2,438
15,180
200,398
-
200,398
233,460
-
233,460
631,005
2,593
633,598		 Total
31-12-20
£
633,598
414,415
321,974
35,722
1,405,709
Total
31-12-19
£
952,927
579,882
388,474
30,674
1,951,957

8 Cost of generating funds

25

Wessex Cancer Trust (Registered Company No: 05416311)

Notes forming part of the financial statements for the year ended 31 December 2020

Note 8 continued

Note 8 continued

Fundraising salaries
General fundraising costs
Trust organised event costs
Advertising and publicity
Shop and merchandising costs:
Salaries
Other		 Unrestricted
Funds
£
148,830
14,885
64,991
12,149
287,897
421,547
950,299		 Restricted
Funds
£
-
-
-
2,627
-
-
2,627		 Total
31-12-2019
£
148,830
14,885
64,991
14,776
287,897
421,547
952,926

9 Allocation of support and governance costs

Staff costs
Office cost
Computer costs
Legal fees
Audit
Research costs
Depreciation		 Total
2020
£
229,011
69,254
3,834
(7,141)
7,096
-
55,642
357,696		 Fund-
raising
£
22,901
20,776
1,150
-
-
-
16,693
61,520		 Charitable
Activities
£
177,484
48,478
2,684
(7,141)
-
-
38,949
260,454		 Governance
Basis of
Allocation
£
28,626
Time
-
Usage
-
Usage
-
7,096
-
Usage
-
Usage
35,722

Charitable activities support costs are further analysed in note 10 and allocated 90% (2018: 90%) care and 10% (2019: 10%) education.

26

Wessex Cancer Trust (Registered Company No: 05416311)

Notes forming part of the financial statements for the year ended 31 December 2020

Note 9 continued

Staff costs
Office cost
Computer costs
Legal fees
Audit
Research costs
Depreciation		 Total
2019
£
195,594
105,336
9,606
13,359
6,225
12,043
76,985
419,148		 Fund-
raising
£
19,559
31,601
2,882
-
-
-
23,096
77,138		 Charitable
Activities
£
151,585
73,735
6,724
13,359
-
12,043
53,890
311,336		 Governance
Basis of
Allocation
£
24,449
Time
-
Usage
-
Usage
-
6,225
-
-
Usage
30,674

10 Analysis of expenditure on charitable activities

Care
Education
Provision of Services
Counselling
Complementary therapy
Health education		 Provision
of services
£
410,143
4,272
414,415		 Support
Costs
£
289,777
32,197
321,974
Unrestricted
Funds
£
158,322
4,190
1,693
164,205
Governance
(note 9)
£
32,150
3,572
35,722
Restricted
Funds
£
241,247
6,384
2,579		 Total
31-12-20
£
732,070
40,041
772,111
Total
31-12-20
£
399,569
10,574
4,272
250,210 414,415

Provision of Services

Care
Education		 Provision
of services
£
571,822
8,060
579,882		 Support
Costs
£
349,627
38,847
388,474		 Governance
(note 9)
£
27,607
3,067
30,674		 Total
31-12-19
£
949,056
49,974
999,030

27

Wessex Cancer Trust (Registered Company No: 05416311)

Notes forming part of the financial statements for the year ended 31 December 2020

Note 10 continued

Provision of Services

Counselling
Complementary therapy
Health education
11 Governance
Support costs
Audit fee
Support costs
Audit fee		 Unrestricted
Funds
£
225,017
6,997
3,270
235,825
Unrestricted
Funds
£
28,626
7,096
35,722
Unrestricted
Funds
£
24,449
6,225
30,674		 Restricted
Funds
£
329,559
10,249
4,790
344,597
Restricted
Funds
£
-
-
-
Restricted
Funds
£
-
-
-		 Total
31-12-19
£
554,576
17,246
8,060
579,882
Total
31-12-20
£
28,626
7,096
35,722
Total
31-12-19
£
24,449
6,225
30,674

28

Wessex Cancer Trust (Registered Company No: 05416311)

Notes forming part of the financial statements for the year ended 31 December 2020

12 Staff costs

Salaries
National insurance
Pension costs		 Unrestricted
Funds
£
628,153
53,012
13,850
695,015		 Restricted
Funds
£
139,969
2,786
672
143,427		 Total
31-12-20
£
768,122
55,798
14,522
838,442

One employee received remuneration between £70,000 and £80,000 per annum during 2020. In the prior year, one employee received remuneration between £70,000 and £80,000.

The key management personnel of the group comprises the Trustees, the Chief Executive, Head of Fundraising and Communications, Head of Services, Finance Manager (formerly Head of Finance and Operations) (Interim Director of Finance 06/20 to 09/20) and the Retail Manager. The total employee benefits of the key management personnel of the charity during the year were £259,760 (2019 £244,445).

The average number of full time equivalent employees during the period was 30 (2019: 36).

Pension costs outstanding at the year-end £2,833 (2019: £3,064).

Redundancy payments were made during the year totalling £3,033.74

The Trust also acknowledges the help of part time volunteers on a regular basis and various other volunteers on an ad hoc basis, without which the Trust could not operate effectively.

Salaries
National insurance
Pension costs		 Unrestricted
Funds
£
724,757
58,098
14,232
797,087		 Restricted
Funds
£
176,250
5,870
1,579
183,699		 Total
31-12-19
£
901,007
63,968
15,811
980,786

13 Trustees’ remuneration and expenses

No Trustee received any remuneration during the year (2019: nil).

29

Wessex Cancer Trust (Registered Company No: 05416311)

Notes forming part of the financial statements for the year ended 31 December 2020

14 Group tangible fixed assets

Leasehold
property
£
Cost
At 1 January 2020
458,267
Additions
2,046
Disposals
(41,454)
At 31 December 2020
418,859
Depreciation
At 1 January 2020
276,732
Charge for the period
67,195
Disposals
(41,454)
At 31 December 2020
302,473
Net book value
At 31 December 2020
116,386
At 31 December 2019
181,535
Trust tangible fixed assets
Leasehold
property
£
Cost
At 1 January 2020
227,760
Additions
2,046
Disposals
(41,454)
At 31 December 2020
188,352
Depreciation
At 1 January 2020
98,489
Charge for the period
42,313
Disposals
(41,454)
At 31 December 2020
99,348
Net book value
At 31 December 2020
89,004
At 31 December 2019
129,271		 Motor
vehicles
£
66,525
-
(40,875)
25,650
34,446
7,338
(30,002)
11,782
13,868
32,079
Motor
vehicles
£
53,815
-
(28,166)
25,649
24,278
7,338
(19,833)
11,783
13,866
29,537		 Fixtures &
fittings
£
147,155
18,215
-
165,370
137,335
9,061
-
146,396
18,974
9,820
Fixtures &
fittings
£
101,629
18,215
-
119,844
94,879
5,992
-
100,871
18,973
6,750		 Total
£
671,947
20,261
(82,329)
609,879
448,513
83,594
(71,456)
460,651
149,228
223,434
Total
£
383,204
20,261
(69,620)
333,845
217,646
55,643
(61,287)
212,002
121,843
165,558

30

Wessex Cancer Trust (Registered Company No: 05416311)

Notes forming part of the financial statements for the year ended 31 December 2020

15 Fixed asset investments

Fixed asset investments
represent:
Shares in subsidiary company
Listed UK Equities
Cash		 Group
2020
2019
£
£
-
-
19
32
114
116
133
148		 Trust
2020
2019
£
£
2
2
19
32
114
116
135
150		 Trust
2020
2019
£
£
2
2
19
32
114
116
135
150
150

Subsidiary company:

The Trust owns 2 ordinary shares of £1 representing 100% of the issued share capital of W.C.T. Wessex Limited.

Group Trust
2020 2019 2020 2019
£ £ £ £
Quoted investments:
Market value at 1 January 148 143 148 143
Realised gains / (losses) (1) (1) (1) (1)
Unrealised gains / (losses) (14) 6 (14) 6
Market value at 31 December 133 148 133 148
Historical cost 119 119 119 119
he following investments represent items in excess of 5% of the total portfolio at the balance
heet date at market value:
Group Trust
2020 2019 2020 2019
£ £ £ £
Cash 114 116 114 116
Lloyds Banking Group plc 19 32 19 32

The following investments represent items in excess of 5% of the total portfolio at the balance sheet date at market value:

31

Wessex Cancer Trust (Registered Company No: 05416311)

Notes forming part of the financial statements for the year ended 31 December 2020

16 Debtors

Group
2020
2019
£
£
Amounts falling due within
one year:
Trade debtors
3,579
32,817
Prepayments and accrued
income
158,640
366,884
Other debtors
12,353
7,210
174,572
406,911		 Trust
2020
2019
£
£
3,579
32,817
141,560
325,711
-
-
145,139
358,528		 Trust
2020
2019
£
£
3,579
32,817
141,560
325,711
-
-
145,139
358,528
358,528

17 Creditors: amounts falling due within one year

Trade creditors
Accruals and deferred income
Amounts due to subsidiary
Other creditors
Bounce Back Loan		 Group
2020
2019
£
£
118,401
87,791

40,019
184,681
-
-
24,460
30,187
3,549
-
186,429
302,659		 Trust
2020
2019
£
£
34,587
52,854
27,726
130,390
69,420
65,752
21,842
27,621
3,549
157,124
276,617		 Trust
2020
2019
£
£
34,587
52,854
27,726
130,390
69,420
65,752
21,842
27,621
3,549
157,124
276,617
276,617

18 Creditors: amounts falling due after more than one year

Other creditors
Bounce Back Loan		 Group
2020
2019
£
£
10,845
16,432
46,451
-
57,296
16,432		 Trust
2020
2019
£
£
9,778
15,366
46,451
-
56,229
15,366		 Trust
2020
2019
£
£
9,778
15,366
46,451
-
56,229
15,366
15,366

The Bounce Back Loan Scheme is a new lending scheme created by the UK Government in response to Covid-19. The loan of £50,000 is not subject to interest for the first twelve months from the date on which the loan was drawn (September 2020.) The loan is subsequently repayable in 60 monthly instalments at an annual interest rate of 2.5%. The final repayment date is 72 months after the loan was drawn.

32

Wessex Cancer Trust (Registered Company No: 05416311)

Notes forming part of the financial statements for the year ended 31 December 2020

19 Financial commitments

At 31 December the group had the following commitments under non-cancellable property leases:

Group Trust
2020 2019 2020 2019
Payable: £ £ £ £
Under 1 year 189,668
228,593		 83,793 94,793
Between 2 and 5 years 435,145
626,130		 258,312 369,422
Over 5 years 16,487 75,670 16,487 49,670
641,300
930,393		 358,592 513,885
estr icted funds
Balance
Movement in resources		 Transfers Balance
1-1-20 Incoming
Outgoing		 31-12-20
£ £ £ £ £
(a) Children's Fund 10,708 -
(10,708)
-		 0
Patient
(b) Transport 38,575 4,925
(22,597)
-		 20,903
(c) Support Centres 90,832 240,660
(219,498)
(1,996)
109,998
Total
restricted
funds 140,115 245,585 (252,803) (1,996) 130,901

20 Restricted funds

Transfers relate to capital expenditure on the Isle of Wight Centre rebuild.

33

Wessex Cancer Trust (Registered Company No: 05416311)

Notes forming part of the financial statements for the year ended 31 December 2020

Note 20 continued

Children's Fund
Patient
Transport
Support Centres
Total
restricted
funds		 Balance
1-1-2019
£
89,092
58,890
71,966
219,948		 Movement in resources
Incoming
Outgoing
£
£
3,173
(81,557)
48,048
(42,714)
330,672
(222,953)
381,893
(347,224)		 Transfers
£
-
(25,649)
(88,853)
(114,502)		 Balance
31-12-19
£
10,708
38,575
90,832
140,115

Transfers relate to capital expenditure on the Isle of Wight Centre rebuild and costs of the Portsmouth minibus.

21 Statement of funds

Total restricted funds
Unrestricted funds
Total restricted funds
Unrestricted funds		 Balance
1-1-20
£
140,115
328,675
468,790
Balance
1-1-19
£
219,948
238,948
458,896		 Movement in resources
Incoming
Outgoing
£
£
245,585
(252,803)
1,057,355
(1,152,921)
1,302,940
(1,405,724)
Movement in resources
Incoming
Outgoing
£
£
381,893
(347,224)
1,574,101
(1,598,876)
1,955,994
(1,946,100)		 Transfers
£
(1,996)
1,996
-
Transfers
£
(114,502)
114,502
-		 Balance
31-12-20
£
130,901
235,105
366,006
Balance
31-12-19
£
140,115
328,675
468,790

The incoming and outgoing resources figures for the restricted fund include the gains and losses on investments in the year as per note 15.

34

Wessex Cancer Trust (Registered Company No: 05416311)

Notes forming part of the financial statements for the year ended 31 December 2020

22 Analysis of net assets of the group’s funds

Restricted funds
Unrestricted funds
Restricted funds
Unrestricted funds		 Tangible
Fixed
Assets
£
121,843
27,385
149,228
Tangible
Fixed
Assets
£
165,558
57,876
223,434		 Investments
£
133
-
133
Investments
£
148
-
148		 Net
Current
Assets /
(Liabilities)
£
8,925

207,720
216,645
Net
Current
Assets /
(Liabilities)
£
(25,591)
270,799
245,208		 Total
31-12-20
£
130,901
235,105
366,006
Total
31-12-19
£
140,115
328,675
468,790

23 Related party transactions

During the year £2,500 (2019: £Nil) was received from Ms J Freeman (Treasurer – resigned 30 September 2020) in relation to the sale of a company car previously used by the Head of Fundraising. Payment was received in full £Nil was owed at the year end.

There were no other related party transactions.

24 Taxation

As a charity, the Trust is exempt from Corporation Tax on profits applied to charitable purposes, under Section 505 of the Income and Corporation Taxes Act 1988. The trading company uses the gift aid scheme to transfer an element of its profits to the Trust. In 2020 the trading company distributed it’s taxable profits to the Trust of £73,157 under the gift aid scheme. There was therefore no tax liability in 2020. (In 2019 there was a tax credit of £5,851 which included a prior period charge of £5,305 and a credit in relation to the movement in the provision for deferred taxation of £7,563.)

35

Wessex Cancer Trust (Registered Company No: 05416311)

Notes forming part of the financial statements for the year ended 31 December 2020

25 Reconciliation of net movement in funds to net cash flow from operating activities

Net movement in funds
Add back depreciation charge
Add back (gain)/loss on disposal
Deduct investment income shown in investing activities
Add back unrealised (gain)/loss on investments
(Increase)/decrease in debtors
Increase/(decrease) in creditors		 Group
2020
2019
£
£
(102,784)
9,894
83,594
160,491
(6,081)
(5,880)
(121)
(138)
15
(5)
232,339
34,353
(125,366)
(57,915)
81,596
140,800		 Group
2020
2019
£
£
(102,784)
9,894
83,594
160,491
(6,081)
(5,880)
(121)
(138)
15
(5)
232,339
34,353
(125,366)
(57,915)
81,596
140,800
140,800

36