WESSEX CANCER TRUST Registered Company No: 05416311 Wessex Canr Trust Rert and Flnanclal Statements For the Year Ended 31 December 2022 (A Company Umited by Guarantee) Reglstered Charlty No: 01110216
Wessex Cancer Trust Report and Financlal Statements Contents Legal and Paministrative Informatlon ReF(rt of the trustee5 3-19 Independent aLKJltorfs reFOrt 20-24 Consdldated staterrEnt of financlal acuvltles 25-26 thnsolldated and trust balan sheets 27 COnlIdated statement of cash fkAvs Jtes to the flnandal statements 29-40
Legal and AdmlnlSknYe Inforniatlon Charfty Name Wessex Canr Trust Company NumLEr 05416311 Charity Registered Numter 01110216 Reglstered Offi 91-95 Winchester Road Chondlerfs Ford Eastlelgh, SO53 2GG The Directors of the charftable company are Its Trustees for the PUrpe$ of charlty law. The Trustees and offirS serving duriThJ the year and Sin the year end were as follows: Board of TruStS Mrs D Cutler Mr M Mlles FC Dr E Arden-close Mr J clgh Mr T Jones FCA Mr J Plumtree Chalr Treasurer appoint&1 8 Aprfl 2022 Ms S Wells Ms L Darby Ms R De Beer Mr B Rinaldi Mr P Towler Ms J Warwlck resigned 4 May 2023 resigned 14 April 2022 resigned 15 December 2022 resigned 30 April 2022 resigned 25 May 2022 resigned 3 March 2022 Mrs H Bodlam retary, resigne£l 28 February 2022 retary, apInt 28 February 2022, resigned 2 May 2022 Mr D Robertson C4(SA) Secretary, appointed 3 May 2022 Mr D Danlels Chief EXeCUte Rachel Billsberry-Grass Legal Advisors Paris Smith LLP London Road Southampton, S015 2AE Ptyelof40
Legal and Administrative inf0mtIon - continued Audttcfs Azets Audit Sepdices Athenla House 10-14 Andover Ro1 Winchester Hampsh1, S023 7BS Bankers The Royal Bank of Scotland 56 High Street S(wthampton, 14 2NP Co-operatlve Bank PO E4Jx 250, Delf House SkelmeTsdale, WN8 6wr Investment Advlsors Sara51n & Partsiers Juxon House 100 St Paul s UrthYard London EC4M 8BU PBge2rf40
Wessex Cancer TnLSt (Registered CornpaThy No: 05416311) Report of the Tntsteeg (Induding dirertorfs report) Chairfs Summary Thank you for taking tlme to read our 2022 Annual ReFQrt and A£counts. It has LEen another encouraglng year for Wessex Cancer TrusL in vthich we've seen growth in the numtser of people that we are supFrf)rting, and achieved a strong finandal perforrnan. Thank you to all our donors, volunteers and staff that have contributed to this FX)sitive F()sitn. However, there Is Irore to LE thne. Every year around 14,000 people are diagnosed with cancer In the Wessex region and we know that 58% feel that their emotional nd5 are not being Iked after a5 much as their physical need5. To help address thi5, 2022 saw the launch of a new three-year strategy can SupwrtforAII, which seeks to double our reach and tske our services to people and communities who have traditionally been less likely to seek our SUPF()rt. Our Services focus on the emotional health arKI wellbeing of anyone affected by Canr, whether it is the person livirvj with cancer themselves, or their loved ones. We offer personali5ed 5UPPOrt which is holistic and can include befriending, counselling and complementsry therapies in b)th one to one and group settings, as well a5 gentle exercise classes. As part of our thretryear strategy we are developing a communty outreach prtrJramme to extend the work teing delivered in our four cancer supp)rt ntres. Worklng in partnershlp with others, we aim to reach individuals in geographlcal areas and communltles who have not prevlously accessed our servlces. Durlng 2022 we launched our fitst community Outreach pilot project in Andover. The pilot has enabled us to reach rEw clients whlle developing link5 within the local community and healthca landscape, From Aprtl 2023 thls outreach ser will L based in Andover's Prfmary Care Network (PCN) Health Hub, helplng us to reach even more Feople wlthin the local communlty. We have undertaken extensive scoping work to identify gecgraphlc and demogrnphic communities Whe there are very few services offering emotional support for people affected by cancer, but where the is a clear need for such 5ervlces. Infomed by thls work, in 2023 we will be focusing some of our resources to reach speclfic groups Indudlng men, people from deprived communf(bes and people who have pcor mentsl health. We will also continue to extend our reach into minorlty ethnic ccrfnmunlues, Geojraphically, we wlll develop our outreach to affjs that have few canr sUPPQrt Servi5. t)orchester is a priority in 2023, and we are also considering locations in North East Hampshire. Our outreach work has possible with a very generous grant received from Southampton Hospita15 Charity, with the proceeds of the sale of Banws artwork, Game Changer. l¥ge 3 of 40
Wessex Cancer Trust (Registered Company No: 05416311) Report of the Trustees (includlng director s report) For many of our dlents, gettlng back to nomal following the Fondemic has been difficult. With the Omi¢Jon variant causing concern in the early part of 2022, it tcok until the last quarter fOre our Centres saw In-person cllent numbers return to pr&pandemic leve15. Our Servi5 team has engaged l(xally with the communlty, aThJ wlth hosiitsls, GP practi, charities and other healthcare providers to help restore confidence for tentIal clients. We have Wn aglle and responslve to client needs, delivering a combination of in-Ferson and remte services, and will contlnue to do so in the future. Wessex Qncer Trust *rvitrs are embeddej in local communltles and nowhere Is that clearer than our Fopular Sing for Ufe cholrs. With three e5tablish&J choirs In Totton, Cosham and Salisbury, 2022 saw the launch of a new group on the Isle of Wight. Slnging can help lower stress, boost Immunity and lung function and Improve mental health, and our Informal singlng groups offer a supportfve community that nefit many people affected by CaThr. The cholrs regularly Sha these benefits with the community by perfomlng at events such as Music in the aty in S)uthampton in September and our very own Christmas Concert which was held In St Peterfs Church In Thtdifield. Dudng the year we were In attendance at many community events to ralse awaneSS of our servlces, including visiting local mosques and temples, and tsking part In a number of the reglon'5 Pride events. For the Qun'S Jubilee event in Eastlelgh, our services, retall and fundraising teams of staff and volunteers joined together to showcase our work to thousands of people in the l(xal area. In addition to our Centre on the Isle of Wight, Wessex Canr Trust provides tsyo Dalsy Buses to supwrt patlents frcffl the Island who are coming for treatment In l>ortsmouth or S)uthampton. Thls seNlce Is also provlded to patlents from Jersey, under a contract wth the ststes of Jersey Government and with the supp)rt of our long-term partner, Jersey Canr Trust. Wessex Cancer Trust seNices are a vital part of the local canr provision, complementlng what 15 offered by the NHS and other charttie5. Partner5hlp working is a prforlty for the &rd. As well as our contract with the Ststes of jersey, we are contracted by three NHS h05Pitals to deliver counselling or complerrentsry therapies enabllng us to reach more Feople in a c05t eff1ve way. We also work closely with the wSeX Canr Allian and other charities with l(xal support centres such as Maggie's and Macmillan. The delivery of our services is dependent on the energy and enthuslasm of our people. The Trustees offer our heartfelt thanks to the volunteers, employees and sessional worker5 who have been involved with Wessex Cancer Trust in 2022. In common with many charftles, recrultsnent and retention of both staff and volUntrS has bn a challenge, and this is extetted to continue into 2023 and beyond. In response we have remewed our wllcles around Issues such as flexible working, and we are investlng In Wellteing at Work initiatives and increased HR ard volunteer management support. Page 4 of 40
Wesgex Cancer Tr1 (Registered Company No: 05416311) Report of the Trustees (includlng dlrector's report) As a charity which depends on fundraising and retail income, 2022 has an urKertaln year; as things settled down after the pandemic, the cost-of-living crisis began to bite. Despite this we finish1 the year with total income of £2,543,018 (2021: £3,123,236), giving an overall net surplus of £832,746 (2021: £1,845,045). In large rt, this surplus was the result of another strong year for legacy income which raised £827,054 (2021.. £1,739,287). We are so grateful to all those individuals who choose to leave a gift in their will. This continues to be a very unTrrtain income stream and 50 the Trust5 have agreed to designate some of these fund5 to enable the charity to develop, Improve and expand Its reach and range of servi5 as part of the strate9ic plan. This will enable us to plan wlth confidence, knowlng that there Is a mitigation In the event of lower legacy income in future year5. During the year we also reccgnlsed the receipt of funds for a lease surrender agreement c our Bournemouth centre. The Centre wa5 re*stabllshed in a temp)rary home at the end of 2021 and dur6ng 2023 we will Le searchlng for a more rrnanent location. In 5p5, our dedlcated team achieved a slgnlflcant upllft In overall sales on the previous year, with total Income of £530,759 (2021,. £365,119). Thls upllft refiects the impart of Covid dlsruptl¢2n In the prior year, as well as encouraging underlying sales growth as the year proJre55ed. Our investment In Trust fundralsing in tx)th 2020 and 2021 has continued to pay divldends. In March the major grant we secured towards our outreath work, was the hlghe5t wee ever received, and we also enjoyed the second of three years of National Lottery funding for our work. Wbth a cost-of-llving crisis affertlng people's disposable income, our fundralslng events vRre launched with a degree of cautlon and we have been pleased that they have broadly teen successful. It has been partlcularly encouragiro to see the rebound of our communty fundralslng and we a hugely gratefvl to the thousands of people have taken on challenge or organised their own events to ralse money for Wessex Canr Trust, The Trustees extend our sincere thanks to the many charltsble trusts, companles, Individuals and organisations who support our work through donations and fundralsing. By year end, our Income from fundraising achieved a small increase of 4.5% on the previous year reaching £848,188 (2021: £811,442). The surplus achieved in 2022 ha5 enabled us to achieve free reserve5 of £1,183,721 (2021: £1,157,256), wtth designated fvnd5 against future projects teing 1Cased to £1,200,000 (2021: £609,437). This maintains our fr reserves in line with our reseNes policy of holdi teen £0.9m and £1.3m. We are proud of the progress we've made during the year to SUPFM)rt thousands of pex)ple affected by Canr, while maintaining a healthy financial position. Our achievements have een many and varied and none would have been possible without the hard worK passion and stoicism of staff and volunteers, to whom we owe huge thanks. psOf40
Wessex Cancer Trust (R•gistered Company No: 05416311) Report of the Trustees (induding dlrectorfs report) But our work is not done- we are still only reaching a fTrttion of the people that could benef from our servi, so this healthy position gives us a remarkable oppjrtunity to invest in both services and income generation over the next f&Y years, to build a sustainable organisation that is dellverlng to more F£orAe In the future. Thank you to everyone who ha5 teen part of Wessex Cancer Tru5Vs year in 2022. Dlane Cutler, thair of Trustees P&Je 6 of 40
Wessex Cancer Trurt (Reglstered Company No: 05416311) Report of the Trustees {Includlng dlrectorfs report) Publlc Benefit A cancer diagnosis is devaststing. We offer emotional and practical supwrt to heip improve the wellbeing of people living with cancer and their loved ones. In rewewing our aims and objectives and planning our future activities, we have refe to and complied with the duty in section 17 of the Charities Act 2011 (including amendments Introduced by the Charities Act 2022). Thls relates to havlng due regard to the Charity Commission's publlshed general guidan on public benefit. In particular, the Trustees consSder how planned actlvltle5 will contribute to the aim5 and objectives they have set. Our priorltle5 are: F(xusing on emottonal 5UPPOrt and wellbelng for people offected by cancer. Retslnlng reglonal status and operats'ng mainly within Hampshire, tkf5et, the Isle of Wight and suky)rting vlsltors from the Channel Islands. RKusing on p)st-dlagnosls non-dlnlcal supwrt. W¢xking closely wlth the NHS, malntalnlng Strong Ilnks wlth and preSentatIOn on approprlate committee5 of the Canr NeorkS operating withln the Charity's regSon of services. Our Approach to Safeguardlng In 2018 the Charlty Commission undedlned that charltles must be trusted pla5 where people can feel safe. At Wessex Cancer Trust we have Safeguardlng pJlicle5 and procedures for Adults and Children which reflect current leglslatlon such as The Mental Capacity Act 2005, SafèJuarding Vulnerable Groups Att 2006 and the Care Act 2014. The Mults-Agency Safeguarding Adults Pollcy and Guidano (June 2020) developed by the Safeguardlng Adults Boards In Hampshi, Southampton, Isle of Wight and Portsmouth, informs our trainlng for staff and volunteers. Our CEO is our Safeguardlng Lead, SUFPJrted by the Dlrector of Servl who Fyovkles continued overslght and revlew of all safeguarding Conrr, POrtIrj to the Governan, Risk and HR Committee and the Board. Our Approach to Fundralslng We55ex Canr Trust is a member of the Fundralslng Regulatcf arKI adhwes to fundralslng cc*Jes of practi. We employ a team of Fundraisers who work across the region. During 2022 we continued to develop a broader fundraising portfolio to mitigate the risks presented by an unrtain extemal environment. Page7rf40
Wessex Cancer Trugt (Reglstered Company No: 05416311) Report of the Trustees (Includlng dlrectorfs report) On c£caslon we use external agencles to deliver fundraising activities. All attlvlty is delivered to Servi level agreements which are monitored through regular meetings, mystery shopping and regular revlew of feedback arKJ any complaints. Agencies are contractually required to ensure all fundrai51ng activity is in accordantr with all appllcable legal re]uirements and the relevant tndIng codes of Practi issued by the Fundrai51ng Regulator. Professional fundralsing agencles mLfSt have clear and up to date wlicies in pla to protect vulnerable people and other rnemrs of the public from unreasonable behaviour. In 2022 no complaints at()ut Wessex Cancer Trust fundraislng prattices or activities were received by the fundraislng regulator. How we performed agalnst our goals Durlng 2022 we aimed to deliver against four prforftles outlined in our 2022-24 strategy CancerSupportforAII Priority I . More people will access our Mrvices Our alm to double the number of cllents ty the end of 2024 had a strong start, wlth a 54% uplift on 2021 client numbers receiving direct emotlonal and wellbeing suppjrt sery15. This was through the delivery of over 7,500 supFort sesslons including amongst others, counsdling, complementary therapies, befriending, exercise aTrJ Sing for Life sessions LM)th individually and in groups. In addition, the total number of Indlvldual Dalsy bus Journeys increased by 8010 to over 11,500 which was largely a reflectlon of cancer SeNiS at hospitals getting back to nomial after Covld. Many of our servios have continued to be delivered at our four Cancer Support Centres which are based In,. Bournemouth, Dorset Chandlers Ford, Hampshi Hythe, Hampshlre NÈwrort, tsle of Wlght A key fccus for our strdtegy was the development and launch of a new communlty Outreach prc#Jramme which was heavily reliant on securing a funding grnnt. We were notified of a suctrssful outcome to our grant application in March, and since then we have undertaken extensive scoping worK with the launch of our first pilot in Andover in Septemter 2022. Thls pilot highlighted a numLv of learnings, so the launch of a second pilot which was targeted for 2022 was delayed until 20231 giving time to build up our rerTr*e service offering. During 2022 we successfully continued to deliver a blended provision of remote and in person SUPFQrt. The Trustee5 reccgnise that to Sustain toth in the future will rquire additional resources. Page 8 of 40
Wwsex Cancer Trust (Reglstsred Company No: 05416311) Report of the Trustees {Indudln9 dlrectorfs report) In our Cent, we continue to respond to demand, trialling new se offerings and dlfferent OFening hours. For example, in the Waterside canr 5UPF(irt Cent in Hythe, the team has SucsfUllY established a women's evening support group to enable working women to attend. To improve our Servi in the longer temi, we aimed to enhan our understanding of trend5 in our dient base. During the year we have suc$$fullY implemented a new client database which is enabllng u5 to analyse data and use this to Inform service development. An ongoing challenge that we face, is how to raise our profile wlth ptentlal cllents. Our service5 tearnls focused on buildlrwJ relationships with dlnlcal and healthcare staff to ensure we continue to S referrals. We also recojnlse the need to bulkl brand rKognitlon to the general publlc and during the year we have urthrtaken the first stage cl a limited brand refresh, consulting stakeholders and cold audlences thrcwgh a sedes of surveys and focus groups. The next stsge of this exercise wlll be the launch of a refreshed brand In 2023, Prlorlty 2 . Our cllents wlll recelve hlgh quallty pergonallsed support It is vltsl that growth in client numbers does not compromise quallty, and we achleved our target of mlnlmum 95% CxXl or Excellent cllent satlsfactlon levels. Whether clients engage In SeIS In our centres, at one of our outreach ser or remotdyi they can expett to be supported by trained volunteer Befrlenders who have a depth of understanding and exFerience. All new dlents are offered an apwintment with our Wellbelng cOlnator who wlll work with them to develop a peysonalised support plan which is then sharej wlth our Centre Managers to cOrdinate the dlenys orKJolng supwrt. How our Services break down Therapies- 23% Befriending- 23% Counsplling- 16% Support Eroup/community- 5% Phy5ir41 activity group- 4% Wellbeln8 aPPts- 5% Sing4Life- 8% General 5VPPOrt- 16%6 Page 9 ef 40
Wessex tsncer Trust (Registerod Compny No: 05416311) Report of the Trustets (including director's report) Each client is offered a follow up meeting with the Wellbeing Ccordinator apprmatelY 6 months later, where we seek feedback on their experience. Our aim is to consider whether their needs have teen met and to identify if further supp)rt is required. The new digitsl ca management system Is enabllng tetter analysls of clients needs and improved communicatSon with client groups. One of our aims for 2022 was to build our web-based communitie5 and onllne servlces for clients. We have an actlve Fac{)k support community and other successful online support groups and we will be investing further in this area in 2023. Prlorlty 3: We w511 seek out meanlngful strateglc partnershlps sin it was founded, Wessex Canr Trust has worked with other partner5, Particulady the NHS, to provide supwrt services that complement cantrr services offered elsewhere. In 2022 we have focused on continuing to bLSild these rdationships toth at a region-wide and communlty level in order that we might Influen the Ic(ol cancer agenda and advocate for our clients. We work with the Wessex Canr Alliance (WCA) and local canr Servi, and our CEO and Head of Services represent the charity on key boards and worklng groupsi Including WCA'S Personallsed Care Projramme Bcord. These efforts are ensuring we are well placed to be considered for new partnerships and during 2022 plans were developed for our Involvement in partnership projects which will launth in 2023. We also set out to develop more strategic funding partner5hlps. DUng the year we 5ucce55fully renegotiated our contracts with S)uthampton General, Queen Alexandra Portsrrrf)uth, and Boumemouth HoStarS and wlth the Ststes of Jersey, In 2023 and teyond, we wlll consider opF()rtunlties for further statutory contracts. Our success In developing partnetships with Trust furK1ets has helped us achleve a strong income from this area, with our two highest ever value grants, However, our target to grow corporate partnershlp Income has presented a blgger challenge as we try to navigate new working prattl5 at many corporates, and thls remains a priority for 2023. Prlorlty 4: Our charlty wlll be flnanclally stablei operate efflciently and attract and retain high quality Staff and volunteer& During 2022 we have successfully managed finances in an efficient way and have flnlshed iJ)e year in a strong FQ51tI¢. In addition to strong legacy income, we saw an encouraging uplift in fundraising Income compared to the previous year. Thi5 has been due to strong perfOrmanS primarily in Twst fundraising, with promising growth in community and events fundrdisifKJ which was re- invigoratsj after the disruption of the premous years. Paue LO of 410
Wessex Cancer Trust (Reglstered Company No: 05416311) Report of the Trustees (Includlng dlrectorfs Yeport) Retail sales were robus¢ with a 45% year ¢Jn year increase in sales following a slow year in 2021 as the country emerged from the pandemic. Gift Aid collettion in retail has teen a fccus and we achieved an average of 389h across all shops. In earty 2023 we are digitslising the retail Gift Ald process and to see a Step-chare in thls area year on year. We have review8J our rr sUPWrt and now have a produttfve rdationship with an external rr suPrt company. Our blggest challenge in the year was recruiting arKI retaining toth stsff and volunteers. Thls is a challenge that is not unlque to Wessex Canr Trust, and presents a real risk to the charity. By the end of tIE year we had recruited an HR resource and Volunteer Co-ordinator to lead on these areas. We have reviewed our organisational culture, including our Mi55ion, Vision, Values and Behavlour5 and durlng 2023 will be embedding these throughout everything we do. The Board Is commltted to Equality, Diversity and Inclusion (EDI), during 2022 we developed a strategy and policy that reflects how we will implement this commitment. We have also introjuced a Flexible Working Policy and have put additional focus on Wellbeing Initiative5 to ensure we look after our Feople. Future Plans In 2023 we will continue to strlve to dellver agalnst the prlorf(les outllned In Cancersupport forAlland specifically alm to: Recruit a new role of Dlgltal SeNios Officer, developiThJ onllne communlties and offerlng new online Se15. Launch up to 5 new pilot outreach servi, working in partnership with Iccal cancer services and other charities or community groups. Develop a plan to find a future pemanent home ftjr our Bournemouth Canr Support Centre. Recruit to the new role of Head of Phllanthropy; develop and Implement plans for major donor and corwrate fundraising. Rollout a freshed brand to help raise awareness of our services and need for fundlng. Explore the opprtunlty to open one addltlonal retall outlet. Implement digital gift aid collection in shops and achieve average glft ald collettitM of 50% across shops. Increase b)ard diversity and specialist sknlls to ensure the makeup of the Board refiects the needs of the charity. Rollout a Wellbeing at Worf( prcyJramme. Page 11 of40
Wessex Canr Trust (Reglstered Company No: 05416311) Report of the Trustees {Indudlng dlrector s report) Colleagues and Voluntsers The Tru5tee5 thank all the staff and volunteers who have helFed the charity to achieve tremendous results for Feople with canor and their loved ones during 2022. Volunteers are the baCkbe of Wessex Cancer Trust, and we are hugely grateful to the 190+ individuals who continue to 5UPPOrt the charity in this way. The range of volunteer support we enjoy is huge and Includes counselling and theraples, befriendirKJ, running supp)rt group5, IElplng in our shops or at a fundralsing event, or providing offi-baSed 5UPIXIrt. Volunteers are carefully vetted and trained and in 2022 we continued to offer crucial tralnlng in for example, Ilstenlng skills and safeguarding. Flnanclal revlew The Group's total Income was £2,543,018 (2021: £3,123,236). While thls Is a reductlon on the prevlous year (due to the eXptIonal legaLy income that was recelved In 2021), It is stlll ConSerablY higher than the yearfs budget. Again this refltS another strong year for legacy income at £827,054 {2021'. £1,739,287) and the Trustees are thankful to all those people who left a glft In their will of whatever 51ze. During 2022 we have continued to successfully Invest in trust fundralsing achievlng income of £388,784 (2021., £271,698). We have also seen an encouraging recovery In communlty and event fundraising, with our annual PUrnemOuth Arshow lunch, Rainbow Run and Chrfstmas Carol cOnrt being partlcular hlghllghts of the event calendar. In 2022 we saw the flrst of new Sparkle Party fashion show event, In whlch a nurnr of clients and Serv1 staff stsrred a5 models. The Group's income also Includes retail tradlTh9, undertaken through a wholly owned subsldlary, W.C.T. Wesw Limlted. The team is highly fccused on targets and other key perforrnan Indlcators and so despite challenging stafflng issues during the year, managed to achieve ¢)verall irKome of £530,759 (2021: £365,119) wSth a profit after taxation of É127,145 {2021.' £178,738). This reduction in profts reflects the previous yearfs rlpt of £121,000 in Covid la grant support, as well as an underlying cost inflation, whith than offset income growth. Our current retail outlets a in: Weeke, Winthester Chandlerfs Ford Freshwater, Isle of Wight Hhe Portthester Ptye 12 of40
Wessex Cancer Trust (Registered Company No: 05416311) Report of the Trust9 (Induding directorfs rwt) Most of our income remains dependent on the generosity of our supporters, whether through financial donations, gifts in a will or participation in fundraising events, or by donatlng or buying second-hand g¢X¥Js in our 5hop5. We a so grateful to all those irKlividuals, organi5ations, clubs, sch¢Jols and companies that supported the charity during 2022. A total of £690,954 was sFent ¢Jn raising funds (2021: £513,083) which indudes the costs of running our retail shops, Expenditure on charitable activities amounted to £1,017,657 (2021.. £765,512). This increase refiects the charity retuming to normal oFerations after ld and cost inflation in bjth salaries and other costs. The charfty remalns dependent on voluntary income but durfng 2022 al agreej a substantial lease Srnder payment on our UrneM0Uth Centre. The cent is currentty OFeratlng from new premlses under a short-term lease, with the alm of finding a longer-tertn Iccation during 2023. The end of year outcome was a surplus of £832,746 (2021: £1,845,045). Through¢Jut 2022 the charlty has ccfitlnued to closely monltor finances and malntaln an 18- 24-month cashflow forecast. Robust evaluation of income generatlon actlvltles, cost saving exer05e5 and stawng alert to OPFQrtunities to access new funding ha5 helped to secure the flnancial position of the charity and protett the long-tenn future of the Trust. Based on all avallable information the Trustees have a reasonable expectation that the Trust wlll be able to continue in operatlon and meet its liabSlltles as they fall due for the foreseeable future, belng a Fericd of at least one year from the date of thls report. Therefore, the Trust contlnues to adopt the t30ing conrn ba515 of accounung. ReseNes Pollcy Free re5enrfes are funds that are readily realisable and exclude funds wtrK)se use Is re5trlcted or designated for a particular purF*)5e. It al excludes funds Invested in fixed assets utllised In the day to day running of the charfty. During 2022 the Trustees reviewed the appropriate level of free reseNes needed by the charlty and agreed a level of £900,000 - £1.3m, repntIng approximately 6 - 9 months of 2023 running costs. Group free reserves at the balance sheet date were £1,183,721 (2021: £1,157,256). Given the ongolng Impart of the energy crlsls, tcgether wlth the develcping sltuatlon In Ukraine and the rdated impacts on current Inflation levels, the Trustees are satisfied to retain free reserves comfortsbly wlthln thls range. The total re5eNe5 (inC1J1ng free reserves) were £3,043,797 (2021: £2,211,051) of which £652,091 were restricted (2021: £429,547) and mt available for general purposes. Additionallyi the Trust set aside a further £590,563 from unrestricted legacy income rereived during the year, to increase designated funds to £1,200,000 (2021: £609,437), As legacy income can te so volatile, the application of these designated re5erve5 over the ndIUM term will enable the charity to develop, improve and expand its reach and range of servi, and this is revieNed by Trust as part of the strategic planning pr(&5. Page 13 of 40
Wessex Cancer Trust (Registered Company No: 05416311) Report of the Trustees (including dlrectorfs report) Investment Policy The Trustee5 have committed to investing fund5 in a responslble manner and for the investment p)rtfolio to managed in accordan with the Trust's charitable mission and values. Thi5 means having regard to tsest practitr in EnVirCMenta1, Sc£ial and Govemance issue5. To minlmi5e risk of only holding our resee5 in Interest bearing accounts, Sin the year end we are now investing into the Flagstone Deposit platfomi. This wovides higher returns whllst otecting all the funds deposited under the Financtal Serv1 Compensation Scheme (FSCS) this guarantees up to £85,000 in any el¢ble bank. The Trust has also app)inted Sarasin & Parthers as our Investment manager5 and will be developlng an Investment p)licy wlth them, The Tru5t'5 objective wlll be to maximise Investment return5 against the rlsk and liquldity of the investments. The Finan & Audit Commlttee wlll be responsible for having overslght of the perfOrnn of our Investments. Structure, Governan and Management Ickground The orlglnal We55ex Cancer Trust was established as a reglsterej unincorp)rated charity (280133) under a Trust Deed dated 3 March 1980. In January 2005, the Board of Trustees declded to Incorp)rate the charlty. A new company, Wessex Canr Trust, was Incor(hyated under the Companies Act 1985 on 6 April 2005 and entered Into the Central Reglster of Charitie5 on 27 June 2005 wlth reglstered number 01110216. The assets and Ilabilities of the unlncorporated Trust were transferr&J to the Company on l Octoter 2005 when It commenty activities. Governlng Documents Wessex Cancer Trust's Artldes of AsatIOn currently define the ob]'ects of the charity as: 'For the public nefit to asslst In the treatment and care of persons affectej by Canr, the provision of SUPFOrt, education and prattical advi, induding raising funds to; complement and improve canr care Servi by supportlng patlents, families and carers; Yoviding education and Informatlon for patlents, families and professionals; promotlng canr prevention; mainly throughout Wessex including Hampshi, Dorse( Wlltshlre, the Isle of Wight and the Channel 151and5.' Page 14 of 40
Wessex Cancer Trust (Reglstered Company No: 05416311) Report of the Ttee$ (Including dlrectorfs report) Governing Body At 31 Dffember 2022, the Goveming Board compris&J slx Trustes, who also form the membershlp of the Company, Every memter promises to a sum not exceeding £10 towards the payments of debts and Ilabllltles of the Company if it is dissolved whlle he or she is a member or wlthin 12 months after he or she ceases to a member. New Trustees are identlfled through an open recruitment prcsS and are then derted by the Board based on having the attrlbutes necessary to maintsin the range of skllls necessary for the effective dlrectlon of the tharity. Training for new Trustees includes elpt of a comprehensive inductlon pack and brlefings from staff. All Trustees who have served continuously for ft)ur years can cpoose to stand for relectlon at the next Annual General Meeting. Trustees can serve a maximum of 2 four-year terms. Re- elion is voted amongst all the memters of the Charlty to be cwpleted at least 48 hour5 before the completlon of the Annual General Meetlng. Decislons by the P•Jard are made by slmple majorlty, wlth the Chalr taklng the decldlng vote in the event of a tie. During 2022 the Trustee PA)ard was strerothened vlth the apFolntment of a new vI-ChaIr and slx trustees stepFed down. The Board meets quarterly, wlth the CEO and memtets of the Senior Leadership Team. Delegatlon The Articles of Assoclatlon permit delegatlon of TrLtstees' powers to a commlttee of bNo or more Trustees. Durlng 2022 the Board reviewed it5 formal Governan strurtu and streamllned the number of Sub commlttees to three: Govemance, Risk and HR Commlttee Finan & Audlt Comm Advisory Committee - Advisory Forum In addltion the Board has an annual Strategy Day. A member of the Pi)ard is involved in the management-led Strategic Implementab'on G)up which meets monthly to monitor and evaluate progress &Jainst the strategic plan. The Trustees appoint a Chief Ex1Ve who is respJn5ible for the day-towday opeTrtions of the Charity, working ak)ryside departrnent Directors to dellver the Trusvs wor1(. Page 15 rf40
Wessex Cancer Trust (Registered Company No: 05416311) Report of the Trustees (including director s report) Management of Rlsks The Trustees have assessed the major d5ks to which the Charity is exp)sed and a tIsfied that systems and procedures are in pla to mitigate our eXpUre to the major risks, The Trust assessment Is refiected In a [sk Register which is regularly reviewed by the Board and the relevant governan committ. Mitigation plans are in pla to rajuce, as far as rM)ssible, the impact or Ilkellhood of C(Curren. The rfsks below are the ones of which the Board are particularly mindfvl: Governan Insufficient skills on andlor engagement the Board leading to w decision making andlor lack of oversight. Management: The comFosltlon of the b)ard15 revlewed regularly to ensure that we have the rlght skS11s to fulfil our Governano role. Trustees reve tralning on what Is requir&1 to a Tru5t*. vir Lack of undetandIng of publlc wllcy and complIan wlth regulatw OblatIOnS. Management: Senior leadership team monitor publlc p)Ilcy and the regulatory environment to ensure risks are managed, reportlng In to the Board. Adverse events Inddents that damage reputstlon andlor negatively impact OFeratlons (includlng, fraud, supply chain d15rupUon, major health and Safety inodents, safeguardlng and internal prcKes5 faIlU). Management.. We malntaln a Buslness Continulty Plan which is revlewed regularly. Regular flnancial reFQrting and monltorlng. Proactive whisueblowing policy. Proactlve media management. Monltorlng of key suppliers, Includlng flnandal, and other due dfjligen thth. Regular reviews and tTrlnlng on all polldes and procedu5, includlng safeguarding. ratlo Computer system failu or adequacy of systems; loss of datal dats breach. cyber securty. Management.. We have rentlY achieved cybeSSentialS accreditstion and cyber security 15 embedded in the charity with regular staff and volunteer training. Busin Continuity Plan is regularly reviewed. We use Mlcrosoft 365 arKJ have outsour our rr suppJrt. Page 16 rf40
Wessex Canc4r Tt (Registered Company No: 05416311) Report of the Trustees (including dlrectorfs report) Poor volunteer recruitment and retentionllack of volunteer comFetenoes. Management: We have ntlY cruIted a Volunteer CoQrdinator who is establishing a con515tent approach across the Trust and who creates awareness of gc(#J volunteer management. A training projramme will be established for volUntrS and managers. High stsff turnover and recruitment thallenge5. Management: Regular review of HR prattices how to supprt staff. Annual cost of Ilvlng salary award and cttaslonal extrptlonal additional awards when n*ded eg durtng cost of Ilvlng crlsls In 2022. Wular stsff appraisals with clear ob]'ettives. Regular reviews of the recrultment packs to respond to changes and exit interyiews Imth leavers. FinaKlal Inccffle, expenditure and cash flow. Management: Budgets set annually and monthly monitoring of actuals to klentify actlons needed. Over4epEndency on small number of Income streams. manageMt.. Fundralslng strategy establlshed and Investment In new areas to further dlverslfy income streams. Deslgnatlon of reserves to help mltigate the rlsk5 of volatile legaLry Income. Investments presenting exr#)SU to financial risk and market movements. Management: Re5ponslble Investment approach wlth regard to best prath In Envlronmental, Sodal and Vernance (ESG) Issues, and In accordan wfch the charity's own charftable mlsslon and values. Expert a(fvI Informs Investment and twsury actlvltles. Over51ght of Investment and treasury activities by our Flnance & Audit Committee, who monltor Complian and pErfornian. Remunerntlon The G)vemance, Rlsk & Human Resour Commlttee recommends any annual cost of living IraSe5 in considerBtion of the Consumer Pri Index. In 2022 members of stsff were given a cost-of-llving Increase of 3% (2021.. 2%) plus a ontroff payment of 2.5% up to max of £lk. Any other salary inuease5 are based on kErf0m1an or advancement. Salarles for new roles are reviewed against market rates for similar roles in the charity sector. With the continued Fyessure on household budgets ID 2022, the Board agreed a further rise of 40kn at the stsrt of January 2023. A number of lower paid staff received a greater increase.. the ard chose to tske into account the real Living Wage as identified by the LivirKJ Wage Foundation, rather than pay at the Governmenys National Living Wage. With the latter increasing by 9.7% in April 2023, the 8oard dse to 1ntrDJU this change from the teginning of January 2023. Pag2 17 c140
Wessex Canr Trust (Registered C4Mnpany t40: 05416311) Report of the Trustees (Including dlrector s report) Trustees. Responsibilities in relation to the Financial Ststements The Trustees (who are also dirertors of Wessex Cancer Trust for the purposes of company law) a responsible for preparing the Trustees. Rert and the finanaal ststements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Apted Accounting Practitr). Company law requires the trustees to prepare financial statements for each finanaal year. Under company law the tru5tee5 must not approve the financial statements unless they are saU5fied that they give a true and fair view of the State of affairs of the charitsble company and the group and of the incoming resources and appllcation of resources, including the Income and expendlture, of the charltable group for that peri()J. In preparing these financlal statements, the trustees are required to: select suitsble accounting Folioes and then apply them consistently,, obrve the methoas and prfnclrles In the Charltks SORP (FRS102)' • make judgments and accounting estimates that a reasonable and prudent. state whether applicable UK Accounting Standards have en followed, subjett to any materlal departures dlsclosed and explalned in the financlal statements; prepare the flnanclal ststements on the going conrn basls unless it is Inappropriate to presume that the charltable group wlll conunue In operatlon. The Trustees are responslble for keeplng adequate accounting records that are sufflcient to show and explain the charitable company and the group's transactions and dlsclose with reasonable accuracy at any tlme the financlal posltion of the charitable group and enable them to ensure that the finanoal statsments comply wlth the Companles Act 2C6. They a also responsible for safeguarding the a55ets of the charitstje company and the group and hen for taking reasonable steps for the preventlon arTrd detection of fraud and other Irregukirities. Provlslon of Informatlon to audltor Each of the Ferson5 who are Trustees at the tlme when this Trustees, Rewrt is approved ha5 confirmed that: so far as thatTrustee 15 aware, the is no relevant audlt Informatlon of whlch the charlty's auditors are unaware, and each Trustee has taken all the Steps that ought to have ten tsken as a Trustee in order to be aware of any infomation needed by the charity's auditors in connection with preparing their rewrt and to estsblish that the charitys auditors are aware of that information. Pèje 18 of 40
Wessex Cancer Trust (Registered Company No: 05416311)
Report of the Trustees (including director's report)
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 the Annual General Meeting.
This report was approved by the Trustees on 23 June 2023 and signed on their behalf by:
D Cutler
Chair of Trustees
Date: 23.06.2023
Page 19 of 40
Wessex Cancer Trust (Registered Company No: 05416311) Independent auditor'5 report to the trustees of Wessex Canc4r Trust for the year ended 31 December 2022 Independent audltor's report Opinion We have audited the financial statements of Wessex Canr Trust (the 'charltsble parent companv) and Its subsidiary (the 'group? for the year ended 31 Dernber 2022 which comprlse the Consolidated Ststement of Finanaal Activities, the C(Y)solidabJ Balance Sheet, the Company Balan Sheet, the Consolidated Cash Flow Ststement and notes to the financial statements, Includlng a summary of significant accountlng wlicles. The financial reFDrting framework that has been applied in their preparats'on is applicable law and United Klngdom Accountlng Standards, induding Flnancial ReFQrting Standard 102 The Flnanclal Reporting standard applicable in the UK and Republlc of Ireland, (United Klngdom Generally ACpted Accountlng Practkn). In our opinion, the financlal statements: glve a true and fair vlew of the State of the group'5 0fKI of the tharitable parent company's affalrs as at 31 Dern£r 2022 and of the group's Incomlng reSoUrS and application of resour$, for the year then erKled; have been properly prepared in accordan with United Klngdom Generally Accepted Accounting Practlce,, and have been prepad In accordance with the rffjuiMents of the Companles Act 2CN)6. Bas1$ for oplnlon We conducted our audlt In accordan with Intematlonal StarKlard5 on Auditing (UK) (ISAS (UK)) arKI appllcable law. Our responslbllitles under those stsndards a further described In the Audtto¢s responsibiltties for the audlt of the financial statements secbon of our repi)rt. We a Independent of the group in accordance wlth the ethical requirements that are relevant to our audit of the flnandal ststements in the UK induding the FRCS Ethlcal Stsndard, and we have fulfilled our other ethical resFon5ikn"litie5 in accordance wlth these requirements. We telieve that the audit evidence we have obtalned Is sufficient and appropriate to prowde a basis for our opinion. Conclusions relating to going concern In ouditing the finanaal statements, we have concluded that the trustees, use of the g¢ing conrn basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfornEd, we have not identified any material unrtaIntieS labng to events or conditions that, individually or collectively, may cast significant doubt on the group & charitsble Pant company's ability to contlnue as a going concem for a peri¢)J of at least 1ve month5 from when the firtanaal statements are authorlsed for Issue. Page 20 of 40
Wessex Canr Trust (Registered Company No: 05416311) Independent auditorfs report to the trustees of Wesw C•ncer Trust for the year ended 31 December 2022 Our responsibilities and the resFonsibilities of the trustees wlth resFeCt to going conrn are desCbed in the levant sections of thls report. Other Inforniatlon The other Infomatlon CLJnprises the infomatlon Included In the annual repxirt other than the rinanaal ststements and our auditorfs report thereon. The trustees are respjnsible for the other infornation contained within the annual rt. Our opinion on the financial ststements does not cover the other information, except to the extent otherwise explicidy stated in our report, and we do not express any form of assuran conclusion thereon. Our reswnsibility is to read the other information and, in doing , consider whether the other inf0mtiOn is materially Inconslstent wlth the financlal statements or our knowledge oLaird In the course of the audit, or otherwi* aptRars to be materially misstated. If we identify such material inconsistencies or apparent material misststement5, we are re]uired to determine whether thls gives rlse to a material mlsstatement in the flnanclal ststements themselves. If, based on the work we have perfomed, we conclude that there Is a material misstatement of this other inf0MtiOn, we a required to rep)rt that fart. We have nothlng to report In this regard. Oplnlons on other matters prescrlbed by the Companles Act 2006 In our oplnlon, based on the work undertaken In the course of our audit.. the Informatlon given In the trustees, rep)rt, which Includes the directors, rekDrt and the strategic prepared for the purposes of company law, for the financlal year for whlch the financial statements are prepared is conslstent with the financial ststements. and the strategt rep)rt and the dirertors, port included withln the tnjstees, report have b&n prepared in accordan with applicable legal requirements. Matters on whkh we are required to report by exceptlon In the light of the knowledge and understsnding of the group and charitable parent company and Its envlronment obtslned In the course of the audit, we have not identified material misstatements in the strategic and directors. report. We have nothing to rep)rt in respect of the followlng matters in relation to which the Charlties (Accounts and Reports) Regulation5 2008 us to rert to you if, in our opinion.. the Inforniation glven in the financlal statements Is Inconslstent in any material reSFect with the Trust, Report; or sufficrent and proper accounting records have not been kept; or the financial statements are not in agreement wlth the accounting records; or we have not received all the information and explanations we require for our audlt. Page 21 ef 40
Wessex Cancer Trust (Registered Company No: 05416311) Independent audltorfs report to the trustees of Wessex Cancer Trust for the year ended 31 December 2022 Responsibilities of trustees As explain&J more fully in the statement of trustees, responsibilitie5, the trustees, who are also the director5 of the charitsble porent company for the purpose of company law, are reswnsible for the preparation of the finanaal statements and for being satisfied that they give a true and falr vlew, and for such intemal control as the trustees determine is n¥essary to enable the preF43ratlon of financial statement5 that are free from material misstatement, whether due to fraud or error. In preparfng the financlal statements, the trustees are resFonsible for assessing the group & tharitsble pant companvs ability to continue as golng COnM, disclosing, as applicable, matters related to going cOnM and uslng the going conrn basis of accounting unless the trustees elther Intend to liquidate the group or charitsble parent company or to se operab'ons, or have no realistic altemative but to do Audltorfs responslbllltles for the audlt of the flnandal statements We have been appointed as audltor under stt0n 144 of the Charftles Act 2011 and report In accordance with the Acts and relevant regulations made or having effeLt thereunder. Our obj'ectives are to otr*ain reasonable assuran atrA)Ut whether the financial ststements as whole are free from materlal mlsststement, whether due to fraud or error, and to Issue an auditols report that includes our opinion. Reasonable assuran is a hlgh level of assuran l)ut Is nct a guarantee that an audlt coThJutted in accordance wlth ISAS (UK) wlll always detect a material rn155tatement when It exists, Mlsstatements con arise from fraud or error and are considered material if, Individually or in the aggregate, they could reasonably te expected to influentt the economic declslons of users tsken on the basis of these financlal 5tstements. A further descriptlon of our re5pKsnslbilities is available on the Finanaal ReForting Coundl'5 website at: https',Ilwww.frc,org.ukJauditowesp)nslbllltles, This descrlptlon forms part of our auditorfs repo Extent to which the audit was con51dered capable of detectlng Irregularftles Induding fraud Irregularities, induding fraud, are Instan of non-complian with law5 and regulations. We deslgn prCdu in line with our respjnsibilitles, outlined atx)ve and on the Financial Reportlng Council's website, to detect material misstatement5 in respect of Irregularities, includlng fraud. Page 22 of 40
Wessex Cancer Trust (Registered Company No: 05416311) Independent audltorfs report to the trustees of Wessex Cancer Trust for the year ended 31 December 2022 Extent to which the audit was considered capable of detectin9 irregularltles, Induding fraud (continued) We obtain and upjate our understanding of the entity, its activities, its control envlronmenL and Ilkely future developments, including in relat)n to the legal and regulatory frdmework appllcable and how the entity is complylng wlth that framework. Based on this understsnding, we Identify and assess the risks of material misststement of the financial statements, whether due to fraud or error, design and perform audit prCedureS resF()nswe to those risks, and obtaln audit eviden that is sufficlent and appropriate to provide a basis for our oplnlon. Thls Includes conslderatlon of the rlsk of acts by the entlty that We contrary to appllcable laws and regukitions, including fraud. In respx)nse to the risk of irregularities and I)n-ComplIan wlth laws and regulations, Includlng frathl, we deslgned prOdureS which included: Enquiry of management and those charged wlth governance around artual and potentlal lIgatIon and claims as well as actual, 5U5pected and alleged fraud; Reviewing minutes of meetings of those charged with governan. Assessing the extent of compliance wlth the laws and regulations considered to have a dlrect material effect on the financial statements or the operations of the entty through enquiry and inspection,. Reviewing financial statement disclosures and testing to SUPFQrtlng d(Kumentstion to assess compliance with applicable laws and regulations. Perfomlng audit work ¢)ver the dsk of management blas and cNerrlde of ccmtrols, including testing of journal entries and cther adjustments for appropriateness, evaluating the buslness ratlonale of sfrgnlficant transactions outside the rKJm7al course of buslness and reviewing accountlng estimates for Indicators of potenttal blas. Because of the inherent limitations of an audit, there Is a risk that we wlll not detect all Irregularities, including those leading to a material misstatement in the financial ststements or non-compliano with regulation. This rtsk increases the more that Complian wlth a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less Ilkely to tecome aware of instan5 of non-compliance. The risk of not detecting a mateiial mi55tatement resulting from fraud is hher than for or resulung from error, as fraud may Involve collusion, forgeryi intentional omissions, misrepresentstions, or the override of intemal control. Page 23 of 40
Wessex Cancer Trust (Registered Company No: 05416311) Independent auditorfs report to the trustees of Wessex CanorTrust lor the ended 31 December 2022 Use of our report Thls report is made solety to the tharItse parent company tDJstees, as a t, In accnCe with part 4 of the Charltles (Accounts arKI ReFOrts) RegUlaonS 2008. Our audit work has been undertaken so that we might state to the charitable parent company trustees those matters we are required to stste to them in an audltors, report and for no other purpx)se. To the fullest extent permitted by law, we do not accept or assume resFY)nsibility to anyone other than the group and the charitsble pawit company's trustees as a body, for our audit wort for this )¢ or for the opinions we have formed. Michael Tlzard, Azets Audlt SeNkes 2810612023 Date.. Chartered Accountsnts Athenia House statutory Audltor ICk14 Andover Road Wlnchester Hampshlre Unlted Klngdom S023 7BS Page 24 of tlo
Wwsex Cancer Trust (Reglstered Compony No: 05416311) Consolldated Statemert of Flnanclal Actlvltles (Indudlng income and expendi1¢ acts)unt) for the year ended 31 December 2022 R•strlct•d Total Fund Ygar to 31-11-2022 Year to 31-12-2021 Income: 15.390 827,054 83B,881 333,591 3,426 2,018,342 519,539 534,929 827,054 844,018 333,591 3,42S 2,543,018 440,473 1,739,287 736,088 207,339 49 Athvltkn for rnIn9 funds Other Income Inv&stmont hKome 5,137 Total Income 524ffi76 3,123,236 ExPdItUr0 cl) of ralslng fuhdy: Celts of ralslng vduntsry Iorne Costs of actlvmes fcf rnwng fijnds Exp•ndltur• on Charllabh actMtI••: 286,800 404,154 286,800 404,154 206,312 306,771 li li 694,350 45,748 277.559 971,909 45,748 733.801 31.711 Educauon Tot•1 EXpdItur• IA31,052 277,559 1,708,611 1,278,595 Net Income befor• n•t {losM8)Igaln on Inv••tm•nts and 567,290 247,117 834,407 1044,641 N•t Ibss•sygalns on Inv•stmwts Taxayon Nét Int4>mlng r•Mur¢•B b•for• Is 24 1,860 1,660 399 585,629 247,117 832,746 1045,045 Trnnl• 20121 (565,9901 19,639 590,563 124,573) 222,5H Net rnOTRm•nl In fund$ fortho y•ar Fund bknn brought forw•rd •t ljanuary 2022 FUVMI balances carvled forward at 31 December 2022 590,563 832,746 1,845,045 1,172,1%7 609h37 429,547 2,211,051 366.Q06 1,191,706 1,200,000 652.091 3,043,797 2,211,C51 The ststement of financlal athvities Includes all gains and losses recojnlsed In year. 1 Incomlrg resources and soUr expended derNe from contlnulTrJ actfjvities. Page 25 of 40
Wessex Cancer Trust (Registered Company No: 05416311) Consolidated Statement of Flnancial Athities {Including income and expenditure account) for the year ended 31 December 2021 202 rncom•: t)onathy Lege5 Acbvitles for raÈlng fvrffls Other Income Inve51rMIt kncome 236,559 1,400,561 729,346 207,339 49 203,914 338,726 6,742 440,473 1,739287 736,088 207339 49 Trt•l Income 2,573 854 3 123236 Expendir• Cots ol raknlng fund8: Costs of raIn9 volunw IrKorne Costs of xtlvlues for TalstNJ funds Expendr• CharltslA• acU¥lEI•s: 205,142 306,771 1,170 206J12 306,771 li li 486,046 31,711 247,756 733001 31,711 Educatbn Totsl Expon&ur• 1029 670 248,925 95 Net kncome bofore n•tg•ln• on In¥emnts Jnd I,SH,184 300,4S7 IA44MI Net gans on Invethnts TaxOn Is 24 399 399 N•t In¢omln9 r•lou b•for• tr•nrf• 1544 588 45 Transf•r 20 (GO726) 609,437 (1,811) Net rn)v•ment In lund•for the year Fund balanc•s broughtforward at 01 January 2021 Vund lanc carrled forward at 31 December 2021 936,962 609,437 298.646 I4545 235 105 366 1172 067 609 437 The statement of finandal activlties Indudes all galns and l¢)sses reccgnised in the year. All IrKomlng reswrces and resources expended der from COnnUIng xuvttles. Page 26 of 40
Wessex Cancer Trust (Registered Company No: 05416311)
Consolidated and Trust Balance Sheets as at 31 December 2022
| Fixed asets Tangible asset Invesments Current assets Debtors due within one year cash at bank and in hand Creitors: amount falling due within one year Net current asets Total asset less current liabilities Creitors: amounts falling due afer more than one year Net aset Funds Resticed Unrestriced - Designate Unrestrice |
Note 14 15 16 17 18 20 21 21 22 |
Group 2022 2021 E E 75,730 89,759 137 138 75,867 89,897 674,318 248,149 2,415,863 1,987,682 3,090,181 2,235,831 (122,251) (111,057) 2,967,930 2,124,774 3,043,797 2,214,671 {3,620) 3,043,797 2,211,051 652,091 429,547 1,200,000 609,437 1,191,706 1,172,067 3,03,797 2,211,051 |
Group 2022 2021 E E 75,730 89,759 137 138 75,867 89,897 674,318 248,149 2,415,863 1,987,682 3,090,181 2,235,831 (122,251) (111,057) 2,967,930 2,124,774 3,043,797 2,214,671 {3,620) 3,043,797 2,211,051 652,091 429,547 1,200,000 609,437 1,191,706 1,172,067 3,03,797 2,211,051 |
Trus 2022 2021 E E 67,745 74,948 138 140 67,883 75,088 706,983 396,340 2,360,725 1,826,840 3,067,708 2,223,180 (91,794) (86,163) 2,975,914 2,137,017 3,043,797 2,212,105 (3,620) 3,043,797 2,208,485 652,091 429,547 1,200,000 609,437 1,191,706 1,169,501 3,043,797 2,208,485 |
Trus 2022 2021 E E 67,745 74,948 138 140 67,883 75,088 706,983 396,340 2,360,725 1,826,840 3,067,708 2,223,180 (91,794) (86,163) 2,975,914 2,137,017 3,043,797 2,212,105 (3,620) 3,043,797 2,208,485 652,091 429,547 1,200,000 609,437 1,191,706 1,169,501 3,043,797 2,208,485 |
|
|---|---|---|---|---|---|---|
| 75,088 | ||||||
| 396,340 1,826,840 |
||||||
| 2,235,831 (111,057) 2,124,774 |
2,223,180 (86,163) 2,137,017 2,212,105 (3,620) 2,208,485 429,547 609,437 1,169,501 |
|||||
| 2,214,671 {3,620) 2,211,051 429,547 609,437 1,172,067 |
||||||
| 2,211,051 | 2,208,485 |
The financial statements on pages 16 to 36 were approved by the Board of Trustees on 23 June 2023 and signed on their behalf by: ............................................ .
Diane Cutler
Page 27 of 40
Wesw Cancer Trust (Re9lstered Company No: 05416311) Consolldated Statsment of Cash Flows for the year ended 31 December 2022 inflow from operating activili 25 Investment iKom• 3,426 Purchase G*tawle fixed assets 1213571 111699) Caoh (Us) by InveNUng aLthII Ca•h Ilow• from financlng •LthItI Repaymertof Loan Increa•e ITr ca•h •nd ca•h ltt th• yr 428 181 701 Cash and tssh equivalents at the btyirnirq of the 1,987,682 285.798 Trtal rath and e4ulvalBnts at the end olthe yenr 2 41S 863 1987 682 Cèsh at ba 2,415.863 1,987,682 2 415 863 l 987 682 Statement of th•ngeJ In n•t debt. tabh loa SORP An•lyw• of dwryge• kn n•t dth: 01-01-2022 flow• 31-11-2022 Cash at bank 428 181 2 415 863 1,987,682 428,181 2,415,863 e28rf40
Wessex Cancer Trust (Registered Company No: 05416311) Notes lormlng part of the flnancial statements for the year ended 31 December 2022 Prindpal accounting policies Basis of preparation The financlal statements have been prepared in accordance wtth Accounting and Reportlng by Charities: ststement of Recommended Practi applicable to charitie5 preparing their accounts in cOrdan with the Financial Reporting Standard applicable in the UK and Republic cl Ireland (FRS 102) (effective l January 2019) - (Charities SORP (FRS102), the Flnanclal Reportlng Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Att 2006. The Charity is a publlc berit entity as deflned by FRSIO2. The finatKial ststements a prepared under the historlcal cost convents'on in sterlingi which is the functh)nal currenq of the charity, as mc(Jified by the inclusion of Investments at market value. Monetsry amounts in these flnaKlal statements are rounded to the nearest £. No e5tsmate used In the accounts will have a signifrant risk of a materlal adJUStrnent to the carrylng amounts of the assets & liabilities in the next financial year. Golng concern At the tlme of approvlng the finandal ststements, the trustee5 have a reasonable expectatlon that the Group has adquate resource5 to continue in cperational existence for the foreseeable future. Thus the accounts are prepared on a golng conrn basis. Group finandal statements The ststement of flnandal actlvltles and balartt sheet con5011date the flnanclal statents of the Trus¢ and its subsbjiary urKlertaking. The results of the subsidiary are consolidated on a line-by-line basis. A separate statement of financbl artiviUes and irKome and expendlture accwnt are not presented for the charlty ltseir followlng the exemptlons afford&l by sectlon 408 of the Companles Act 2006. The parent company's result for the finarKlal year was a proflt of £705,601 (year to 31 Derner 2021,. £1,853,081.) Fund ac£ountiNJ Unrestrict&J funds are avalLable for use at the dlscretlon of the Trustees In furtherarKe of the general obJ&Uves of the Tnjst and which have not been de51gnat&J for other purposes. Desrgnat8J funds have bn set aside by managerrEnt for partlcular operational and strategic purFoses. Re5tr1cted funds are funds whlch are to be used In accordan wlth spedflc reStrlttlcS Imposed by donors or whlch have been raised by the Trust for particular purposes. The cost of ralslng and adminittrlng such funds are charged agalnst the speclC fund. The aim and use of each restricted fund is set out in the note5 to the finala1 ststements. Incomlng resourcas Donations activities for generating funds are reccJnised in the perth in which Trust reiVeS the income or when there is a reasonable assuran of reipt. Income is deferred only when the Trust has to fulfil conditions before becoming entitled to it or where the donor has specffled that the ir£cine is to be expended in a future peric¥l. Legacies are included in the ststement of financial actNities on a re1vable basis, teing recognised at the polnt of tfflcaon of grant of probate when the Trusys interest can be measured or estimated wlth sufficient liability. Page 29 l10
W8ssex Can(tr Trust (Registered Company No: 05416311) Notes fomilng part of the flnanclal statements for the year ended 31 December 2022 fjovernnnt grants Government grants a rectynised at the falr value of the asset received or reIvable when the Is reasonable assuran that the grant condltths wlll be met and the grants will be receival. A grant that specifies performan conditions is recognised in income when the perforMae corKlitions are met. Where a grant does not spedfy performance condltlons It Is rerognlsed in income when the prcceeds are received or r1vable. A grant re1Ved before the recognitlon uiteria are satlsfied Is (c¥JnIsed as Ilabilty. Investments and Investment Inrnme Investments held as flxed assets are stated at market value. Galns arwj e5 on Investmerts both realt5eJ and unrealised a included in the statement of flnanclal aciivitses. All income arising on Investments Is accountea for C a recelvable basls. Resources expended All resour expended, Includlro Irr0Verable VAT, are charged agalnst Income on an ¢rual5 basis. Expenditure Is allcKated direcuy Whe the costs are dlrecuy attrfbutable, otherwSse on a basls of staff usage and thelr allttatk)n of tirT. Tanglble flxed aet9 and depredatlon Tanglble fixed assets are stated at cost less depratIOn. Depreclatlon Is provlded on all tsrolble flxed assets at rates calculated to wrlte cff the cost less the(r estlmated residual value cfi a stralght-llne basls over thdr exp useful economlc Ilves as follows: L&hold Prorerty Motor vehleS Flxture5 and FrJS over length of leases btheen IOWO and 200kn annum between 15% and 330kn Fer annum No asset ur¥Jer £500 is capitalisd. Penslons The Trust owates a group defined contrlbuyon pen5bn scheme. Penslon costs are charyej to the Statement of Flnanclal Actfvitie5 as Incurred. Operating leases Rental costs under operatlng leases are charged to the Statement of Flnanclal ActNltles as Inojrrèj over the period of the leases. 2 Legacles There is inherent Urrtalnty in the probate valuation of eststes a5 a result of the nature of UNder1 assets and liabilitie5, the time that elapse5 tetsveen probate and dosure other contingencies that attend the estate. Legacies are recoJnised at the polnt of noUflcatton ol grant of probate when it can be measured or estlm*d with sufflcient reliabillty. A total amunt of legy income of £827,054 (2021,. £1,739,287) was reccgni5ed in the year, and a balan of £472,167 (2021: £163,394) was induded within debtor5 as at the year end. Page 30 d40
Wetsex Cancer Trust (Registered Company No: 05416311) Notss formlng part of the flnandal statements for the year ended 31 December 2022 3 Activities for rni$ing fvnds 31-12-2022 FurKlra151ng events appeals Retsll Income ( not8 6) 308,122 530,7S9 838,881 5,137 313,259 530,759 W,018 5,137 31-12-2021 Fundraising events and appeals R&all Income (* note 6) 364,227 365 119 729,346 6,742 370,969 365 119 736,088 6,742 4 Other Income Unrestrl 2-202 Govemment grants Insurance clalms Leas• surr•nd•r 2,903 19,202 311,486 333,591 2,903 19,202 311,486 333,591 Governmt furfou9h scheme Govemment grants CVernment klckstart 9theme InsuraKe clalms 42,287 71,145 40,456 53,451 207,339 42,287 71,145 40,456 53,451 207,339 5 Investmert Income 2022 Bank InterESt 3,426 3,426 20 Funds Funds Invest income Bank int 47 49 47 49 Pèje 31 of 40
Wossex Cancer Trust (Registered Company No: 05416311) Notes fornilng part of the flnanelal statements for the year ended 31 December 2022 6 Income from trading activities of subsidiary The Trust has a wholly owned trading subsidiary, W.C.T. Wessex Llmited, which is Incorporated In the U and whose prlnclpal actlvlty is to carry on all of the tradlrrfj actNIUes for Canr Trust. its trIng results the year, as extrad8J from the alted flnancial statements, are summarised below: Profft and L($ A(Unt Retail Income Cost of Sa Gros8 Profrt 530,759 12,905 517,854 365,119 5.407 359,712 Expenses Other income Profrt before taxation (391,249) (301,366) 2,200 121051 128,805 179,397 Tax on proffts (1,6601 1659) Profit for the Financial Yr 127,145 178,738 Retain eamiFvJ ht fThward Amount gift aided to the Trust Retained profft 11,664 (127,145) (190,402) 7 Total expendlture 2022 Cost of générntlng funds {Nots 9) Prov151on of swvte5 (Nots 11) Supwt costs (Note 10) Govgmanc• (Note 10) 355,683 409,677 182,428 6,830 328,441 229,437 114,548 690,954 639,114 326,532 29,556 973A49 36,386 698 376 611 2021 Cort of gen@rnOng funds (Notè 9) ProVIon t)f se5 (Notq 11) Support costs (Note 10) G0Veman {e 101 469,341 304,157 151,055 15,134 28.608 144,249 81,108 513,083 448.406 57,034 289,197 72.168 260.295 1278 595 Page 32 c140
We55ex Cancer Trust (Registered Company No: 05416311) Notss formlng part of the flnand•l ststements for the year ended 31 December 2022 8 Net Incomlng Resources for the Year Group 2022 Thi5 has ststed ats charging.. Opuatsng lease Mtsls (8ulldings) DeprlatIon Auditors remuntraUon Audit rte Other SeMQS 2021 219,219 36,386 143,84 72,168 14,080 920 10,025 850 9 Cost of generating funds Voluntary Income Fundralslng staff costs General fUndraIng costs Trust organlsed event costs Advertlslng and publidty 158,217 35,548 64,979 28,056 286,800 158,217 35,54B 64,979 28,056 286,800 Tradlng costs: staff costs 197,466 206,688 404,154 690,954 197,466 206,688 404,154 690,954 31-12-20 Volurbtary Income Fundraising staff costs General fundraislng costs Trust organlsed event costs Advertising and publicty 120,199 11,690 66,671 6,582 205,142 759 120,958 11,690 66,671 6,993 206,312 411 1,170 Tradlng costs: 174,192 132,579 306,771 511913 174,192 132 579 306,771 513 083 Page 33 410
Wessex Cancer Trust (Registered Company No: 05416311) Notes formlng part of the flnanclal stJtsments for the year ended 31 Dernber 2022 10 Alloration of support and governance costs Governance staff Costs Off1 Costs Computer Costs Legal Fe Audlt DeprèJaUon 208,489 95,834 16,278 2,436 25,950 182,428 95,834 16,278 2,436 26,061 me Usage Usage Usage Usage Usage 25,950 378 543 326 532 Charltsble actlvities support costs are further analysed in note 11 and allLKated 90% (202190%) Care and IO% (2021 100/0) Educaticfft. Staff Costs Offio Costs Computer C05ts Legal Fees Audit DePatIOn 172,634 81,257 8,354 (8,503) 6,330 151,055 81,257 8,354 <8,503) 21,579 Time Usage Usage Usage Usage Usage 6,330 317 106 289 197 11 Analysls of expendlture on charltable actlvltles 2022 Care Educ*in 631,220 7,894 639,114 293,879 32,653 326,532 46,810 5,201 971,909 45,748 1,017,657 Provlslon of servlces Counsdlirvj Complementary therapy Health eJu(3tlc 344,545 12,544 4,466 361555 264,501 9,630 609,046 22,174 7,894 639,114 277 559 Page 34 rf40
Wessex Cancer Trust (Registered Company No: 05416311) Notes fomiing part of the financial ststements for the year ended 31 December 2022 Note 11: Analysis of expenditure on charltable actlvltles- continued 2021 Provision of service 8,406 260,277 28,920 289,197 25,118 2,791 27,909 733,801 31,711 765,512 Education 448,406 Provlslon of servlces 1-11-20 Counsdling Complementary therapy Health educaUon 198,036 2,615 244,526 3,229 442,562 200,651 247,755 448,406 12 Staff costs 2022 Salarles Nafjonal Insurance P•nslon costs 725,354 58,569 161,305 10.422 886.659 68.991 174 370 2021 Salarl Natlonal Insuranc• Penslon costs 737,261 48,557 138,797 3,373 876,058 51,930 143 238 One employee cefved remurEratlon betn £70,000 and £80,000 per annum durlThJ 2022. In the prlor year, one employee rLrelved remuneratlon ttheen £60,IY)O and £70,IXKI. The key management personnel of the group comprise5 the Trustees, the Chief Executive, Director of FundraisiThJ Cornmunications, Director of Seryices, Director of FInan & Resources, Director of Marketing and Director of Retail. The total employee benefits of the key management rsonnel of the charlty durlng the year were £303,102 (2021: £242,342). The avwage nurnr of full-time e]uivalent employees durlrhJ the peric¥J was 42 (2021: 44). Pension costs outstsnding at the year-end were £3,295 (2021: £3,063). Redundancy payments totalling £nil were made durlng year (2021: £262). The Trust also acknowledges the help of part tlme volunteers on a regular basis and various other vdunteers on an ad hoc basis, without which the Trust could not operate effecknvely. Page 35 or40
Wessex Cancer Trust (Registered Compny No: 05416311) Notes forniing part of the flnanclal ststements lor the year ended 31 December 2022 13 Trustees, remuneration and expenses No Trustee received any remuneraUon durlng the year (2021: £nll). One trustee received reIMbument of £54 (2021.. £nil) for travel expenses. 14 Tangible flxed assets Group tan9lbh flxed aswts At 1st January 2022 Addltlons Dlswsals At 31st December 2022 418,859 25,650 157,931 22,357 602,440 22,357 171,295 453 502 98,215 D•pr•¢latlon At 1st January 2022 Charge for the perlod Dlsposals At 31st Dernber 2022 359,492 13,740 98,215 275,017 17,929 6,147 135,260 16,499 512,681 36,386 171.295 377,772 24,076 78,679 Net book valu• At 315t Decemter 2022 At 31st December 2021 Trurt tanglble flxed asMts At 1st January 2022 A(klitior Disposals At 31st December 2022 188,352 25,649 132,543 22,353 346,544 22,353 188 352 83,29) 297 291 Doprncl•tl( At 1st January 2022 Charye for the period Disw)sals At 31st Dember 2022 143,793 6,912 17,930 6,146 109,873 16.498 71,606 271,596 29,556 71,606 150 705 Net book value At 31st December 2022 At 31st Dember 2021 Page 36 of 40
Wessex Cancer TNst (Reglstered Company No: 05416311) Notes formlng part of the financlal ststements for the year ended 31 December 2022 15 fixed asset investments 022 Fixed asset investments represent.. Shares in subsidiary companv Listsd UK Equltles Cash 23 114 137 24 114 138 23 113 138 24 114 140 Subsldlary company.. The Trust owns 2 ordlnary shares of £1 representlrKJ 100% of the Issued share capStal of W.C.T. Wessex Llmlted. Quoted investynents: Market value at l January Unrealised galns l (losses) Market value at 31 December Hlst<Jrlcal cost 24 19 24 19 23 24 23 24 119 119 119 119 16 Debtors Amounts f•Nlng due wlthln on• yoar Trade debtors Pr8payments and accrued IrK¢me Legacles accrued Amounts du8 from subsldlary othgr debtcfs 6,628 188,957 472,167 27,854 56,901 163,394 6,628 14S,685 472,167 77,412 5,091 706,983 27,854 29,056 163,394 176,036 6,566 674,318 248,149 396,340 17 Credltors: amounts falllng due wlthln one year Tradè creditors Accnjals and deferred Income Other credltors 33,034 60,445 28,772 122,251 48,783 35,414 26,860 111,057 25,817 42,093 23,884 91,794 31,406 30,865 23,892 86,163 P•ae 37 of 40
Wessex Cancer Trust (Registered Company No: 05416311} Notes forniing part of the flnandal statements for the year ended 31 December 2022 18 Credltors: amounts falling due after more than one year othw (Trdltor5 3,620 3,620 19 Flnanclal comrnitments At 31 December the group had the followlng commltments under nOn<anlIable property leases: Payabl•: Llnder l year 8etsv8on 2 to S years Over 5 years 129,407 222,932 200,582 443,716 316 80,065 127,224 96,0(M) 185,500 218 727 20 Restricted funds (a) Centres (b) Patlent Transkx)rt (c) Outrexh PJDgrammes Total restricted funds 405,79) 23,757 314,676 10,0 (209,744) {7,939} (3,761) {20,812) 506,961 5,006 140 124 429,547 524,676 {277,559) {24,573) 652,091 (al Centres (b) Patient Transport Total restrlcted funds 109,998 20,903 528,524 {230,921) 18,004 248 925 (1,811) 405,790 429 547 (a)Speclfic fUrIng for our centres where cllents a welcomed by volunteer kfrlenders wh) are e4ulpped to provide irformation, support and a listening ear. A team of spedalist counsellors is on hand to help deal with the emotronal impact of cancer and complementary therapie5 which aim to Improve well-belngi help wlth pain managemen¢ and Increase self-c0nrtden. (b)Tr •thaMptOn and Portsmouth minlbus ndIng Suprts the operation of a patient transport seThi. (c)As part of our three-year strategy, we set out an outreach prcgramme to expand the numLEr of communltles and areas supwrted by the charty. (d)Transfers: In 2022, £20,812 relates to claSsifyIng transp)rt contr* IrMe shown Incorrecuy as restricted funds, the balan due to IOW capitsl refurbishment Costs and the project to reach males rinished In 2021. In 2021, transfers relate to capital expeTrJlture on the new Bournemouth Centre. Page 38 of 40
Wessex CanrTrst (Reglstered Company No: 05416311) Notes fornilng part of the flnancial strtements for the yejr ended 31 December 2022 21 Ststement of funds Movement Total restrkted funds unrcted funds Deslgnated Unrestrlcted funds 429.547 524,676 277 559 24.573 652,091 609,437 1,172,067 1,781,504 $90,563 565.990 24,573 1,200,000 1,191,706 2,391,706 2,018,342 2,018,342 1,432,713 1,432,713 2,211,051 2,543,018 (1,710,272) 3,043,797 Moveme Total reStrIrt funds Unrejtrlcted funds Deslgnated Unre9tr1cted funds 130,901 549 382 1,811 429,547 609,437 609,437 1,172,067 1,781,504 235,105 235,105 2,573,854 2,573,854 1029 266 1.029,266 1,811 366,006 3,123,236 1,278,191 2,211,051 Deslgnated funds have en Set aslde by the charfty out of the unre5trlcted legades reiVed durlng the year, to enable the charlty to develop, improve arKi expand Its reach and range of Ser as part of the Strateglc Plan. 22 Analysls of net asgets of the group's funds 2022 Restricted funds Unrestrlcted funds Deslgnated Funds Unrestrlcted funds 137 652,091 1,200,000 1183 721 2 383 721 1,200,000 1191706 2 391706 137 2 967 930 3 043 797 Page 39 of40
Wessex Cancer Trust (Registered Company No: 05416311) Notes formlng part of the flnancial statements for the yejr ended 31 December 2022 Note 22: Analysis of net assets of the group's funds - contin 2021 Rastrlrt*l funds Unrestrictod funds Deslgnated Funds Unrestrlcted fvnds 138 429 547 609,437 I IS7 256 1766 693 609,437 1,172,067 1781,504 138 2 121 154 2 211051 23 Related party transactlons The were no related paty tran5actlons in the year (2021: £nll). 24 Taxation As a tharfty, the Trust Is exempt from Craan Tax cfs proflts aPF41ed to charltabk wrw6es, under Son 505 of the Income and Corporatlon Taxe5 Att 1988. The tradlng company uses the gift ald scheme to transfer an element of Its profits to the Trust. In 2022 the trading company d15trtbuted its taxable proffts to the Trust of £127,145 (2021.. £19J,4021 under the gift ald scheme, In the current year the is a tax Ilatlllty of £1,660 In the subsldlary whllst In 2021 the tax Ilat411ty of £659 was offset on reversln9 deferred tax Ilablllty of £1,058. 25 Reconclllatlon of net movement In funds to net cash flow from operatlng actlvltleB Net movernent in fvnds Add back depreciation charge Deduct investment income shown in investing activities Add back unrealised loss/(gain) on investments (Increase) in debtors Increasel (Decrease) In credltors Net cash inflow from operating activitses 832,746 36,386 (3,426) 1,845,045 72,168 (49) (5) (73.577) (426,169) 26 Post balance sheet events sin the year end we have appointed Sarasin & Partners as our Investment managers. PèJe40 of 40