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2023-03-31-accounts

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Annual Report 2022/2023

Contents

01. Chair’s welcome

01. 05. 08. 00 Chair’s welcome 00 Our Future Plans 00 Financial Statements

Despite this, our supporters have remained passionate, engaged, and determined to do what they can to help continue to improve cancer care across the region. With their help, we are delighted that 2022-23 proved to be a successful year for Rosemere Cancer Foundation. It was a financial year that saw a welcome increase in supporter activity, almost to pre-pandemic levels – and saw both the launch and completion of the charity’s £1.3 million Guiding Light Appeal, which you can read more about on P12.

02. 06. 00 Who we are 00 Structure, Governance and Management

It was with the unyielding support and leadership of Chairman Peter Mileham OBE DL that the charity navigated the challenges of the pandemic years, through to the triumphs and accomplishments of this last financial year.

04.

Sadly, in early June 2023, Peter passed away following a short illness.

00 Your support – our 07. achievements and 00 Financial Review performance

His loss will be felt acutely by many and he leaves behind him a lasting legacy, here at Rosemere and through his work across the region.

For now, after nearly two decades of supporting Rosemere, I am honoured to step into the role of interim Chair. I look forward to helping to steer the charity to further success, following the path that Peter has so determinedly paved.

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Peter Mileham OBE DL
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Yours sincerely,

John Hodgson Interim Chair, John Hodgson

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Annual Report 2022/2023

Annual Report 2022/2023

02. Who we are

Our aims and objectives

Rosemere Cancer Foundation supports world class cancer treatment throughout Lancashire and South Cumbria. Our aim is to work in partnership with local clinical staff to achieve the best possible care for cancer patients across the region wherever they are treated. We seek to do this by:

Under the Charities Act, there are 13 descriptions of charitable purpose. The Foundation is covered by

“the advancement of health or the saving of lives”

We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims, objectives and in planning our future activities. In particular, the Trustee considers how planned activities will contribute to the aims and objectives they have set.

Our Foundation’s purposes as set out in the objects contained in the Foundation’s Trust Deed are to:

“Support the provision of cancer services for the benefits of patients in Lancashire and South Cumbria.”

The objective use of charitable funds are defined in the Trust Deed as:

“The Trustee shall use the Fund for any charitable purpose or purposes relating to the National Health Service.”

By raising additional funds and through the careful management of our existing funds, the Foundation provides a public benefit by making grants to support projects to better the treatment and care provided for local cancer patients. The Foundation funds projects not only at the Rosemere Cancer Centre, based at Royal Preston Hospital, but at cancer units across Lancashire and South Cumbria, supporting the four NHS Hospital Trusts that run eight hospital sites. As well as Preston, these are: Royal Blackburn Hospital, Blackpool Victoria Hospital, Burnley General Hospital, Chorley and South Ribble Hospital, Furness General Hospital, Royal Lancaster Infirmary and Westmorland General Hospital.

Wherever patients from Lancashire and South Cumbria are treated, there are projects at these sites funded by The Rosemere Cancer Foundation which are making a real difference to their comfort and quality of treatment. The granting of funds is made in accordance with charity law, our constitution and the wishes and directions of donors. In making grants, we endeavour to reflect the wishes of patients and staff by directing funds towards areas they tell us are most in need. During the year 2022/23, grants totalling £1,587k were made (2021/22: £1,025k)

Annual Report 2022/2023

Annual Report 2022/2023

03. Get involved

Fundraising Events

To see all of our upcoming events and opportunities to get involved, please visit our website: rosemere.org.uk. If you fancy holding your own fundraising event, please get in touch with the team!

Legacy Support

Gifts left to the charity in a Will provide a valuable income source that help us fund vital work across the region ensuring that we continue to make a difference. It also allows us to plan for the future, benefitting as many patients as possible. Even the smallest legacy can have a lasting impact.

Gift Aid

Is the gift that keeps on giving and last year we claimed thousands of pounds in Gift Aid. If you are a UK tax payer and sign up for gift aid with us, we are able to claim an additional 25p for every £1 you donate, at no additional cost to yourself.

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Annual Report 2022/2023

Annual Report 2022/2023

04. Your support

We had strong numbers join us for our three flagship fundraising walks – our Walk in the Dark, our Cross Bay Walk, and our Walk the Lights events – raising almost £50,000 between them. A number of well-established third-party events in aid of us were also successful, including the Classic Cars on Lytham Green car show, which raised £17,688, The Taps Bike Ride, which raised £3,000, the William Mitchell Family Fun Day (over £4,000) and the Great North Run, in which we saw 30 Rosemere runners raising almost £19,000 in total.

With the help of our amazing volunteers, we also raised a wonderful £2,800 through bucket collections in supermarkets across the region.

We have continued to develop our digital profile, whilst supporter stewardship and engagement remains at the heart of what we do, with a real focus on thanking supporters and promoting our work through our regular newsletter, e-newsletters, Impact Report and end-of-year Thank You mailer.

Charitable Trust activity continued to perform well over this last financial year, and we were delighted to receive grants of over £43,000 from 16 different Trusts including the Barratt Foundation, the Hospital Saturday Fund, the Harold and Alice Bridges Charity and the Sir John Fisher Foundation, who (amongst others) donated to support our Guiding Light Appeal.

We also received grants towards our ongoing Pelvic Radiation Disease project to the tune of £5,000, which included a £3,000 donation from The Hadfield Trust, while the Rhodi Charitable Trust and the HVM Foundation jointly gave £3,350 to help buy a bladder scanner for the Ribblesdale Ward, the oncology inpatient ward at Royal Preston Hospital.

The Foundation is extremely thankful to the many people who have given generously throughout the year. The donations and legacies we receive are an invaluable source of funds used to purchase additional equipment and services, and support life-changing oncology-related projects, that cannot be provided by core NHS funds.

Income received

The Foundation can only continue to support the work of hospitals in the region as long as we continue to receive the money needed to further our charitable aims and objectives. The following chart illustrates the breakdown of our total income of £1.653m (2021/22: £1.511m) received in this financial year:

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1%
Donations
1%
23% 27%
Legacies
[Grants]
3%
Trading Activities
Charitable Activities
45%
Investments
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Annual Report 2022/2023

Annual Report 2022/2023

As the chart shows, the vast majority of our income in this financial year was made up of donations, grants and funds raised towards our 25th Anniversary Guiding Light Appeal. This came to £985,753 in total, including a number donations from charitable trusts, the income from many third-party fundraising events, and a number of community fundraising initiatives held at this time. The funds raised from our Walk in the Dark, Cross Bay Walk, and Walk the Lights events also went towards the Appeal. With an Appeal target of £1.3m, the outstanding £547k was made up of our existing charitable funds, and additional funds raised in 2022/23 that were not ring-fenced to any other specific project.

Events and community fundraising continued to grow during 2022/23, and we hugely appreciate the many donations received this year from members of the public, staff, businesses and community organisations, many of whom have a personal link to the cause. We saw a reduction in Trust and Grant funding this year, bringing in £48k (2021/22: £111k) but this is still a strong amount which made a substantial difference to our income for 2022/23.

Investment income for 2022/23 was £21k, (2021/22: £11k) in the form of dividends and bank interest as we managed funds not immediately required.

The accounts for the Rosemere Coffee Shop Ltd in this financial year have now been received, and their net profit comes to £9k.

Our total legacy income in 2022/23 came to £749k (2021/22: £724k) although the majority of this went towards the Appeal, leaving £179k of legacy income for our general charitable funds. As a charity, we truly appreciate the kindness of those who choose to leave a gift in their Will to us; any gift, no matter the amount, will make a real difference to the treatment and care of local cancer patients in Lancashire and South Cumbria for years to come.

The Coffee Shop team, which consists solely of volunteers, works tirelessly to support cancer patients, visitors and staff – and in turn, the Foundation itself – through their regular cafe service, selling refreshments and snacks at the Coffee Shop within the radiotherapy department at the Rosemere Cancer Centre, and donating all profits to the cause.

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Our fundraising practices

How we spend charitable funds

Members of our fundraising team organise and co-ordinate fundraising activities on behalf of the charity and also support third-party fundraisers in organising their own events and initiatives to raise funds for us, both at our hospital trust, trusts across the region, and across the wider community.

Of 2022/23’s total expenditure of £1.939m (2021/22: £1.333m), the amount spent on charitable activities, excluding support and fundraising costs, was £1.587m (2021/22: £1,025m)

Charitable activities spend covers a wide range of programmes from major capital projects to the purchase of medical equipment, as well as additional training for oncology staff and cutting-edge clinical research. Checks are in place to ensure that all expenditure is in line with the NHS Standing financial instructions and in support of our charitable objectives i.e. monies spent are used to purchase additional goods and services not normally provided by, or in addition to, the normal NHS service.

We do not use external professional fundraisers or involve commercial participators. There have been no complaints about our fundraising activity this year.

The Foundation is registered with the Fundraising Regulator’s Code of Fundraising Practice and fundraising staff attend relevant training sessions and seminars to ensure our fundraising practices are safe, proper and effective. All staff follow the fundraising guidance policy and working practices that are reviewed regularly to ensure compliance. They are also required to undertake relevant safeguarding mandatory training to help to recognise and protect vulnerable people.

Our charity’s Management Committee and the Trust Charitable Funds Committee keeps the spirit of public benefit at the forefront of their decision making. The following chart illustrates the breakdown of the total expenditure in the financial year:

Volunteer fundraisers are given a full briefing and appropriate training before they raise funds for us, and they are also given regular updates and reminders. All direct marketing is undertaken by the fundraising team in line with GDPR regulation, to ensure that it is both legal and not unreasonably intrusive or persistent. Contact is made through targeted marketing, usually on a quarterly basis subject to appeals. All marketing material contains clear instructions on how a person can be removed from mailing lists should they wish to be.

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2%
[Grants for patient ]
environment and
8%
13% wellbeing
3%
5% [Grants for staff ]
education and
wellbeing
Grants for medical
research
[Grants for medical ]
70% equipment
[Charitable activities ]
support costs
Raising Funds
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Annual Report 2022/2023

Staff education and wellbeing received just over £30k in this financial year, which included splitting the £7,800 cost of training for two Lancaster Royal Infirmary-based dental specialists with the University Hospitals of Morecambe Bay NHS Foundation Trust to help them bring new “best practice” techniques to recovering head and neck cancer patients in need of restorative dentistry. We also helped support a trio of Lancashire Teaching Hospitals colorectal and stoma care nurse specialists in attending the Association of Coloproctology of Great Britain and Ireland Annual General Meeting, giving them the opportunity to update their knowledge in line with recent advances in bowel cancer treatment and management.

As the chart shows, our largest area of spend was on grants for medical equipment, which totalled £1.356m. A very significant proportion of this expenditure was linked to the completion of our £1.3m 25th Anniversary Guiding Light Appeal, which we launched in May 2022 and completed in March 2023. The Appeal funded the purchase and installation of Surface Guided Radiotherapy Equipment for Rosemere Cancer Centre’s Radiotherapy department, which provides approximately 240 doses of radiotherapy treatment to patients from across the whole of Lancashire and South Cumbria each day, five days a week.

Commitments for the next financial year

Following such a successful year of fundraising, we felt in a position to commit to funding a number of significant projects for 2023/24. These included the purchase of specialist Lung Vision lung cancer diagnostic equipment for services delivered at Royal Preston Hospital which will benefit patients from across Lancashire & South Cumbria; the refurbishment of Duncan House at Blackpool Victoria Hospital, which provides a home-from-home environment for patients and relatives who have to travel a long way for specialist treatment; artificial intelligence software for chest radiograph interpretation and triage for University Hospitals of Morecambe Bay; and the purchase of additional Paxman Scalp Cooling Systems for chemotherapy units at Chorley and Preston Hospital, to help prevent treatment-induced hair-loss.

Thanks to the fantastic support that our Appeal received from our fundraisers and donors, 2022/23 saw the Rosemere Cancer Centre becoming just the 15th specialist cancer centre (and the largest single-site SGRT centre) in the whole of the UK to offer this treatment, which can improve the efficacy and experience of treatment for all radiotherapy patients.

The funding of patient environment and wellbeing projects came to £152k and included the continuation of the provision of free-of-charge complementary therapies at Lancashire Teaching Hospitals, Blackpool Teaching Hospitals and University Hospitals of Morecambe Bay for patients and carers, to help alleviate the discomfort and anxiety associated with treatment.

The equipment revolutionises regular radiotherapy treatment by using a non-invasive near infra-red light to pinpoint, with sub mm accuracy, the optimal radiotherapy treatment area. In doing that, it helps to better position patients for their treatment, cutting down on the number of positioning scans required and the need for permanent tattoos to act as guide marks. This reduces patients’ overall exposure to radiation, cutting the risk of treatment sideeffects, and speeds up the whole treatment process.

Smaller patient welfare projects funded included the continuation of a Fruit Cocktail & Canape Service for patients on the Ribblesdale Ward, the continued provision of iPods, speakers and a Spotify subscription for the Radiotherapy Department, and the purchase of special “signs and symptoms” cards for women undergoing treatment for gynaecological cancers across the region, to help them identify the signs of gynaecological cancer recurrence and provide a direct contact should they need to get back in touch with the service.

As well as reaching our Appeal target, we continued to fund a number of long-term projects that we had previous commitments to fund for the benefit of patients across the region, including the threeyear Late Effects of Pelvic Radiotherapy Pilot Study at Royal Preston and an Archival Cardiothoracic Tissue & Biofluid Research Bank at Blackpool Victoria Hospital.

£247k (2021/22: £214k) of this year’s income was spent on raising funds, without which, the Foundation would not be able to raise the significant sums it does to support its charitable objectives. Amongst other outgoings, this includes marketing costs and fundraising staff salaries. Fundraising professionals drive the charity’s fundraising plans and strategies, ensuring a maximum return on investment is achieved.

Our volunteers

Volunteers are crucial to the work of many charities and Rosemere Cancer Foundation is no exception to this. Volunteers are the backbone of many of our fundraising activities and initiatives. They support us in a myriad of ways, from bucket collections, to helping out at events, to selling raffle tickets and Christmas cards, to simply spreading the word about what we do. We quite simply wouldn’t be able to do what we do without them, and they enable us to substantially further our capacity and fundraising opportunities. We’d like to take this opportunity to thank our team of volunteers who donate their time and their skills to support our work, for the benefit of cancer patients across the region.

Annual Report 2022/2023

Annual Report 2022/2023

Our Future Plans 05.

This uplift in income has been underpinned by a fantastic response to our 25th Anniversary Appeal, and although this is something we cannot replicate in 2023/24, we hope the momentum and awareness garnered by the Appeal can continue to reap rewards for the charity.

Since the pandemic we have diversified our fundraising income streams, actively supporting more fundraising via charitable trusts and via digital means. While we will continue to further explore and grow these avenues, we will also continue to ensure a focus on historical areas of strength including our own established fundraising events and our strong level of support through community fundraising initiatives.

Our legacy donations have risen steadily over the years, this year bringing in £749k (2021/22: £724k), although this amount is not apparent on the graph on P9 due to much of the 22/23 legacy income going towards our Appeal total. Legacy donations can peak and trough and can be very hard to forecast, however, we hope that this area of revenue will continue to increase over time, through strong supporter engagement on the topic and by actively promoting the good that leaving a gift in a will can achieve.

We’ll continue to place a significant emphasis on supporter engagement and stewardship through our newsletters, impact reports, end-of-year mailings and regular, timely acknowledgements. We’ll also seek to enhance our increasingly high profile throughout Lancashire and South Cumbria by continuing to engage with the public, promoting ongoing and new charitable initiatives, projects, case studies and supporter led activities through proactive PR methods.

During the year ahead, we will continue to review our governance and infrastructure to ensure it is aligned to the latest ideals of operational excellence, putting in place a sustainable platform for growth and enabling a more strategic approach to raising funds, and using those funds raised for the benefit of local cancer patients.

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Annual Report 2022/2023

06. Structure, Governance and Management

The Charitable Funds Committee works within the delegated powers granted to it by the Corporate Trustee who retain the right to amend delegated powers and terms of reference as appropriate. As part of its delegated powers, it is responsible for the following:

Structure

The Foundation follows the NHS Corporate Trustee operational model with members of Lancashire Teaching Hospitals NHS Foundation Trust Board being appointed as its Corporate Trustee. The Corporate Trustee members are appointed upon their appointment to the Board of Directors of Lancashire Teaching Hospitals NHS Foundation Trust.

The overall management and decision making of the Foundation is delegated by the Corporate Trustee to the Charitable Funds Committee and Management Committee.

Charitable Funds Committee

The Charitable Funds Committee meet quarterly and have specific terms of reference; no business may be transacted at a meeting unless three Non-Executive Directors and one Executive Director, who must be the Finance Director (or nominated deputy), are present.

The Committee is supported in doing so by the Head of Charities.

The Charitable Funds Committee is responsible for reviewing and managing its Charitable Funds in accordance with the Trusts’ Standing Financial Instructions and its scheme of delegated powers of authority.

The Foundation operates within a framework with clear policies on investments, sponsorship, fundraising, expenditure and reserves. Authority to approve expenditure from funds is controlled through delegated limits.

Rosemere Management Committee

The Corporate Trustee delegates day to day responsibility for the running of The Rosemere Cancer Foundation to the Management Committee, under the direction of an independent Chairman. The Management Committee is comprised of nonexecutive members of the Trust Board, representatives from each of the four NHS Trusts within which the Foundation operates, including clinical staff and lay members.

The Funds

The Rosemere Cancer Foundation has a single unrestricted fund that is spent, as far as possible, in the optimum way to further the wider objectives of the charity.

Connected Parties and Linked Charities

The Charity holds 100% of the share capital in Rosemere Coffee Shop Limited (Company registration Number 07913994), a retail outlet based in the Rosemere Cancer Centre at Royal Preston Hospital. All gross profits are donated to the Charity under the Gift Aid scheme and the company’s accounts have been consolidated with the Charity’s accounts this financial year.

The Charity is linked to the separate registered charity, Lancashire Teaching Hospitals Charity (formerly Lancashire Teaching Hospitals NHS Foundation Trust Charity). It was established under the same declaration of trust in November 1995 and shares the same Corporate Trustee. The Charity pools its investments with that of Lancashire Teaching Hospitals Charity to form a single investment portfolio, resulting in greater efficiency in the management of the investments.

Risk Management and Internal Controls

Due to the close relationship between the Trust and the Foundation the risk management process is embedded into that of the Trust’s assurance framework and risk management systems.

The Board of Directors of the Trust, who are also the Corporate Trustee, have adopted a formal risk management process to assess business risk and implement risk management strategies. Senior management and the trustee have:

A risk register has been prepared to assist in managing risk to which the Trust has been exposed. The risk register is monitored by the Trust’s Governance framework who request regular updates on any of the relevant action plans and ensure that all appropriate controls are in place or have been identified.

Annual Report 2022/2023

Annual Report 2022/2023

Principal risks and uncertainty facing the Foundation

The Foundation’s ability to fundraise was significantly impacted by the Covid-19 pandemic, but it has it made a progressive recovery and our fundraising opportunities and activities have returned to pre-pandemic proportions. We are, however, giving strong consideration to the impact of the ongoing cost of living crisis, as this may affect our fundraising abilities. Our reserve policy is designed to ensure that the Foundation can continue to meet its objectives should our income and activity circumstances change.

The Foundation considers the valuation of its investments and any decline in market values that would negatively affect fund balances, as a risk. The Charitable Funds Committee meet regularly with the investment advisors and receives quarterly updates to allow them to review the performance of the investments and the risk level associated with them. The current category of risk is four to five (low to moderate). The Foundation’s reserves and investment policies are designed to ensure that no unnecessary risks are taken and the investments continue to support the Foundation to meet its objectives.

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Internal controls

The Corporate Trustee has overall responsibility for ensuring that the organisation operates an appropriate system of controls, financial and otherwise, to provide reasonable assurance that:

In this regard, the Corporate Trustee places reliance upon the Trust’s Audit Committee whose remit is to examine the effectiveness and appropriateness of the system of internal controls. This is achieved by:

the types of internal and external audits to be undertaken, the areas of the organisation which are subject to review, and examining any findings that arise.

The systems of financial control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. These include:

Trustee and Advisors and Contact Details for the Foundation

As the Foundation operates under a Corporate Trustee model, the names of the directors are required to be disclosed: Board Members as at 11th August 2023

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Name Responsibility Post From To
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Kevin McGee Chief Executive Ofcer
Faith Button Chief Operating Ofcer
Jonathan Wood Chief Finance Ofcer / Deputy Chief Executive Ofcer
Geraldine Skailes Chief Medical Ofcer
Sarah Cullen Chief Nursing, Midwifery and AHP Ofcer
Nicki Latham Interim Chief People Ofcer 01/06/2023
Karen Swindley Chief People Ofcer 31/05/2023
Ailsa Brotherton Director of Continuous Improvement
Stephen Dobson Chief Information Ofcer
Gary Doherty Director of Strategy and Planning
Naomi Duggan Director of Communications and Engagement
Jennifer Foote Company Secretary 01/07/2022
Peter White Chair 01/08/2023
Ebrahim Adia Chair 31/08/2022
Paul O’Neill Interim Chair (from 1st September 2022 to 31st July 2023) /
Vice Chair / Non-Executive Director
Tricia Whiteside Acting Vice Chair (from 6th October 2022 to
31st July 2023) / Non-Executive Director
Tim Watkinson Senior Independent Director (from 20th September) /
Non-Executive Director
Ann Pennell Non-Executive Director 31/05/2023
Jim Whitaker Non-Executive Director
Kate Smyth Non-Executive Director
Victoria Crorken Non-Executive Director
Michael Wearden Associate Non-Executive Director 10/06/2022
Peter Wilson Associate Non-Executive Director 16/06/2022

All members have been in post for the whole year unless otherwise stated.

Annual Report 2022/2023

Annual Report 2022/2023

Charitable Funds Committee members:

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Responsibility Name Post From To
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Non-Executive Director Kate Smyth
(Chair of Committee from October 2021)
Non-Executive Director Tricia Whiteside
Non-Executive Director Victoria Crorken
Medical Director Geraldine Skailes
Nursing, Midwifery and AHP Director Sarah Cullen
Finance Director/Deputy Chief Executive Jonathan Wood

All members have been in post since 1 April 2022 unless otherwise stated.

Rosemere Management Committee members:

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Responsibility Name
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Non-Executive Director Tim Watkinson Lancashire Teaching Hospitals NHS FT
Lead Clinician for Oncology Ian Arthur Blackpool Teaching Hospitals NHS FT
Lead Cancer Nurse Jessica Jones Blackpool Teaching Hospitals NHS FT
Consultant Urologist Rosie Blades Lancashire Teaching Hospitals NHS FT
Lead Clinician for Cancer Stephen Kennedy Lancashire Teaching Hospitals NHS FT
Lead Cancer Nurse Anne Tomlinson Lancashire Teaching Hospitals NHS FT
Oncology Clinical Director & Tracey Ellis Lancashire Teaching Hospitals NHS FT
Consultant Therapeutic Radiographer
Lead Clinician for Cancer Tom Raymond University Hospital of Morecambe Bay NHS FT
Lead Cancer Nurse Fiona MacDonald University Hospital of Morecambe Bay NHS FT
Lead Clinician for Cancer Panayiotis Kyzas East Lancashire Hospitals NHS T
Lead Cancer Nurse Step Hechter East Lancashire Hospitals NHS T
Head of Charities Daniel Hill Rosemere Cancer Foundation
Assistant Finance Director Bhimji Patel Lancashire Teaching Hospitals NHS FT
Volunteer Representative and Interim Chair John Hodgson Lay Member

Registered Charity Number and name:

1131583

The Rosemere Cancer Foundation

Principal Office address

Royal Preston Hospital Sharoe Green Lane Fulwood Preston PR2 9HT

Head of Charities

Daniel Hill e | Daniel.hill@lthtr.nhs.uk

Finance Office address:

Preston Business Centre Watling Street Road Fulwood Preston PR2 8DY

The following advisors were retained by the Foundation in 2022-23:

Bankers

National Westminster Bank PLC 35 Fishergate Preston PR1 2BY

Auditors

Beever and Struthers Suite 9b The Beehive Lions Drive Shadsworth Business Park Blackburn BB1 2QS

Investment Advisors

Brewin Dolphin Securities Ltd PO Box 512

National House 36 St Anne House Manchester M60 2EP

Solicitors

Hempsons Portland Tower Portland Street Manchester M1 3LF

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Annual Report 2022/2023

Annual Report 2022/2023

Financial Review 07.

The charity is reporting a deficit for the year before adjustments for market value gains and losses on investments of £286k. (2021/22: surplus of £178k)

Support costs of £122k were £9k higher than 2021/22. This is due to the increase in staff costs as additional resource was required to support the charity following the launch of the 25th Anniversary appeal and return to fundraising activity.

The investment portfolio has continued to experience volatility throughout the year due to national and economic factors. An increase in market values in the second half of the year, gave rise to an unrealised gain of £32k this offset the earlier unrealised loss of £68k and the actual net loss on the sale of investments of £13k that resulted in a net loss on investments of £49k (2021/22: gain of £13k) for the year.

Net current assets of £1,188k were £306k lower at the end of the year as a consequence of the increase in charitable activities expenditure and payments to creditors owed at the end of 2022/23.

Total Charity funds at the end of the year were £335k lower than 2021/22 at a level of £1,561k; required to fund the Charity’s outstanding commitments for various projects and items of equipment.

Incoming resources of £1,653k were £142k higher than 2021/22. This represents a 9% increase.

Going Concern

The trustee considers that there are no material uncertainties about Rosemere Cancer Foundations’ ability to continue as a going concern. Fundraising income appears to be back to pre-pandemic levels however, donations continue to be affected by the cost-of-living crisis.

As a grant making charity with few on-going commitments, this will impact on the new grants that can be made in the short term rather than affecting the charity’s ability to continue as a going concern. There are no material uncertainties affecting the current year’s accounts.

Reserves Policy

The charity has a reserves policy which was reviewed in March 2022. The Charity has considered the level of reserves to be held for the prudent management of its working assets, commitments and contingencies.

Reserves are defined as funds that are freely available to fund the day-to-day operation of the charity and are not subject to commitments or other restrictions. The trustee requires that reserves are available to cover the following:

At the 31st March 2023 the Charity held total unrestricted reserves of £1,561k (2021/22: £1,896k).

The total realised and unrealised loss recognised in 2022/23 is £49k (2021/22: gain £13k). This is the result of a loss on the sale of investments of £13k (2021/22: gain of £40k) and a loss on the carrying value of the investments of £36k (2021/22: loss of £27k).

The Trustee aims to maintain free reserves in unrestricted funds at a level which equates to approximately six months of operating expenditure £167k. The Trustee considers that this level will provide sufficient funds to respond to delays or changes in applications for grants and to ensure that support and governance costs are covered.

The Charity currently has commitments of £759k to be funded from unrestricted reserves. The value of reserves held after making allowances for these commitments and free reserves is £802k.

The level of reserves is continually monitored by the Trustee and the policy will be reviewed at least every two years.

Annual Report 2022/2023

Annual Report 2022/2023

Investment Policy

The policy is reviewed annually; it was last reviewed at the Charitable Funds Committee meeting that took place in September 2022.

The Charity’s investments are held in stocks and shares and are managed by a well-respected investment management company, Brewin Dolphin. The Trust maintains a strict control over investments, laying down a well-structured framework within which Brewin Dolphin must operate in order to minimise the risks associated with investments.

Overseas equities should not exceed 15% of the total holding of equities and investments in negotiable instruments known as “derivatives” are not permitted in any circumstances.

Investment in tobacco, alcohol and armaments is prohibited. If it should come to light that a company has become involved in unethical practices the Corporate Trustee should be consulted with a view to selling the investment.

The market value of managed funds shall not exceed 75% of the total charitable fund reserves.

Corporate Trustee Responsibilities Statement

The Corporate Trustee are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). They are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The law applicable to charities in England and Wales requires the Trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for the period. In preparing these financial statements, the Trustee is required to:

The Corporate Trustee is responsible for the maintenance and integrity of the Charity and financial information. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The Corporate Trustee confirms that there is no relevant audit information of which the Charity’s auditors are unaware and they have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the Charity’s auditors are aware of that information.

By order of the Corporate Trustee

Signed

Paul O’Neill Jonathan Wood Vice Chair Trustee

Date: 19 September 2023

Independent Auditor’s report

Independent Auditor’s Report to the Trustee of The Rosemere Cancer Foundation.

Opinion

We have audited the financial statements of The Rosemere Cancer Foundation “the parent charity” and its subsidiary “the group” for the year ended 31 March 2023 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Parent Balance Sheet, the Consolidated Cash Flow Statement and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you were:

Annual Report 2022/2023

Annual Report 2022/2023

Other information

The other information comprises of the information included in the annual report, other than the financial statements and our auditor’s report thereon. The Trustee is responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

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

We have nothing to report in this regard.

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 Corporate Trustee Responsibilities Statement set out on page 18, the trustee is responsible for the preparation of the group and parent charity financial statements, and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine what 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 Trustee is responsible for assessing the group’s and the parent 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 Trustee either intends to liquidate the group or the parent charity 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 Act 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 for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the parent charity’s Trustee, 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 Trustee those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility for 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.

Beever and Struthers, Statutory Auditor

Beever and Struthers is eligible to act as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

S Lomax FCA

(Senior Statutory Auditor)

For and on behalf of Beever and Struthers

Suite 9b

The Beehive Lions Drive Shadsworth Business Park Blackburn BB1 2QS

Date: 22/09/2023

Annual Report 2022/2023

Annual Report 2022/2023

08. Financial Statements

Consolidated Statement of Financial Activities for the year ended 31 March 2023

2022/2023 2021/2022
Unrestricted Restricted Total Unrestricted Restricted Total
Notes Funds Funds Funds Funds Funds Funds
£000 £000 £000 £000 £000 £000
Income and endowments from:
Donations and legacies 3.1 441 815 1,256 1,181 - 1,181
Charitable activities 3.2 193 171 364 312 - 312
Other trading activities 3.3 12 - 12 7 - 7
Investments 3.4 21 - 21 11 - 11
Total incoming resources 667 986 1,653 1,511 - 1,511
Expenditure on:
Raising funds 4 82 165 247 214 - 214
Charitable activities 5 871 821 1,692 1,119 - 1,119
Total expenditure 953 986 1,939 1,333 - 1,333
Net gain on investments 11.2 (49) - (49) 13 - 13
Net income (335) 0 (335) 191 - 191
Net movement in funds 18 (335) 0 (335) 191 - 191
Reconciliation of Funds
Total funds brought forward 18 1,896 0 1,896 1,705 - 1,705
Total Funds carried forward 18 1,561 0 1,561 1,896 - 1,896

Consolidated Balance Sheet as at 31 March 2023

Notes
Fixed Assets
Tangible assets
10
Investments
11
Total Fixed Assets
Current Assets
Inventories
13
Debtors
14
Cash and cash equivalents
15
Total Current Assets
Liabilities
Creditors falling due within one year
17
Net Current Assets
Total Assets less Current Liabilities
Total Net Assets
The Funds of the Charity
Restricted income funds
Unrestricted income funds
18
Total Charity Funds		 Unrestricted
Restricted
Total at 31
Funds
Funds
March 2023
£000
£000
£000
3
-
3
370
-
370
373
-
373
3
-
3
6
-
6
1,422
371
1,793
1,431
371
1,802
243
371
614
1,188
-
1,188
1,561
-
1,561
1,561
-
1,561
-
-
-
1,561
-
1,561
1,561
-
1,561		 Total at 31
March 2022
£000
3
399
402
5
3
1,544
1,552
58
1,494
1,896
1,896
-
1,896
1,896

The financial statements on pages 28 to 43 were approved and authorised for issue by the Board of Trustees on the 19th September 2023 and approved on its behalf by the Charitable Funds Committee.

Signed:

Date: 19 September 2023

Annual Report 2022/2023

Annual Report 2022/2023

Parent Balance Sheet as at 31 March 2023

Notes
Fixed Assets
Investments
11
Total Fixed Assets
Current Assets
Inventories
13
Debtors
14
Cash and cash equivalents
15
Total Current Assets
Creditors falling due within one year
17
Net Current Assets
Total Assets less Current Liabilities
Total Net Assets
The Funds of the Charity
Restricted income funds
Unrestricted income funds
18
Total Charity Funds		 Unrestricted
Restricted
Total at 31
Funds
Funds
March 2023
£000
£000
£000
370
-
370
370
-
370
-
-
-
17
-
17
1,402
371
1,773
1,419
371
1,790
237
371
608
1,182
-
1,182
1,552
-
1,552
1,552
-
1,552
-
-
-
1,552
-
1,552
1,552
-
1,552		 Total at 31
March 2022
£000
399
399
-
14
1,535
1,549
58
1,491
1,890
1,890
-
1,890
1,890

Consolidated Cash Flow Statement for the year ended 31 March 2023

Notes
Cash fows from operating activities:
Net cash (used) / provided in operating activities
19
Cash fows from investing activities:
Dividends received
3.4
Proceeds from sale of investments
11.1
Purchase of investments
11.1
Net cash provided by investing activities:
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
16
Cash and cash equivalents at the end of the reporting period		 Total at 31
March 2023
£000
249
15
435
(449)
1
249
1,544
1,793		 Total at 31
March 2022
£000
(2)
11
314
(313)
12
10
1,534
1,544

The financial statements on pages 28 to 43 were approved and authorised for issue by the Board of Trustees on the 19th September 2023 and approved on its behalf by the Charitable Funds Committee.

Signed:

Date: 19 September 2023

Annual Report 2022/2023

Annual Report 2022/2023

Notes to the 09. Financial Statements

1.3 Critical judgements in applying accounting policies

1. Accounting policies

In the application of the Foundation’s accounting policies, which are described in notes 1.1 to 1.22, the Trustee is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

1.1 Basis of preparation

The financial statements of the charity are presented in £ Sterling, rounded to the nearest thousand and have been prepared under the historical cost convention, with the exception of investments which are included at fair value.

The financial statements have been prepared in accordance with the 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 (FRS102) (effective 1 January 2015) - Charities SORP (FRS102), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and the Charities Act 2011.The Charity constitutes a public benefit entity as defined by FRS102.

The key judgements are those policies relating to incoming resources (notes 1.7 and 1.8), recognition of expenditure and associated liabilities as a result of grant (note 1.11) and fixed asset investments (note 1.16). The Trustee does not consider there are any sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.

1.4 Key estimations

The value of potential legacies disclosed in note 20. Contingent assets and liabilities is estimated using information received from solicitors and current property market valuations.

1.2 Going concern

The trustee considers that there are no material uncertainties about The Rosemere Cancer Foundations’ ability to continue as a going concern. The Covid-19 pandemic affected the charity, however fundraising income is almost back to pre-pandemic levels but there is a concern that the cost-of-living crisis will affect future giving.

1.5 Funds structure

Where there is a legal restriction on the purpose to which a fund may be put, the fund is classified as a restricted fund or an endowment fund.

As a grant making charity with few on-going commitments, the trustee will continue to manage the amount of new grants that can be made in the short term rather than affecting the charity’s ability to continue as a going concern. There are no material uncertainties affecting the current year’s accounts.

Restricted funds are those where the donor has provided for the donation to be spent in furtherance of a specified charitable purpose. Endowment funds arise when the donor has expressly provided that the gift is to be invested and only the income of the fund may be spent.

In future years, the key risks to the foundation are a fall in income from donations or investment income but the trustee has arrangements in place to mitigate those risks (see the risk management and reserves sections of the annual report for more information).

Those funds which are neither endowment nor restricted income funds are unrestricted income funds which can be analysed between designated (earmarked) funds where the trustees have set aside amounts to be used for specific purposes or which reflect the nonbinding wishes of donors, and unrestricted funds which are at the trustees’ discretion.

The Rosemere Cancer Foundation has one unrestricted fund and one restricted fund. The restricted fund was introduced in April 2022 for the creation of the the 25th Anniversary Appeal.

1.6 Basis of consolidation

The group financial statements consolidate the results of the Foundations’ trading subsidiary, The Rosemere Coffee Shop Ltd, on a line by line basis. Advantage has been taken of the SORP and the parent charity’s own income and expenditure has not been disclosed in these financial statements. The income of The Rosemere Cancer Foundation was £1,653k (2021/22: £1,511), giving rise to a deficit of £335k (2021/22: surplus £191k).

Subsidiary companies are exempt from the requirement of the Companies Act 2006 relating to the audit of the individual accounts by virtue of S479A.

1.7 Incoming resources

All incoming resources are recognised once the charity has entitlement to the resources, it is probable that the resources will be received and the monetary value of the incoming resources can be measured with sufficient reliability. Gifts in kind are recognised as a reasonable estimate of their fair value or the amount actually realised.

Where there are terms or conditions attached to incoming

resources, particularly grants, then these terms or conditions must be met before the income is recognised as the entitlement condition will not be satisfied until that point. Where terms or conditions have not been met or uncertainty exists as to whether they can be met then the relevant income is not recognised in the year but deferred and shown on the balance sheet as deferred income.

1.8 Incoming resources from legacies

Legacies are accounted for as incoming resources either upon receipt or where the receipt of the legacy is probable. Receipt is probable when:

If there is uncertainty as to the amount of the legacy and it cannot be reliably estimated, then the legacy is shown as a contingent asset until all of the conditions for income recognition are met.

1.9 Gifts in kind and donated services

Gifts in kind are recognised as a reasonable estimate of their fair value or where the monetary value of gifts cannot be reliably measured, they will be included in the accounts when they are sold and the amount actually realised.

Donated services are measured and included in the accounts on the basis of the value of the gift to the charity. i.e. what the charity would pay in the open market for the services that are being donated.

1.10 Resources expended and irrecoverable VAT

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to each category of expense shown in the Statement of Financial Activities. Expenditure is recognised when the following criteria are met:

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

1.11 Recognition of expenditure and

associated liabilities as a result of grant

Grants payable are payments made to linked, related party or third-party NHS bodies and non-NHS bodies, in furtherance of the charitable objectives of the funds held on trust, primarily relief of those who are sick.

Grant payments are accounted for on an accruals basis where the conditions for their payment have been met or where a third party has a reasonable expectation that they will receive the grant. The trustee has control over the amount and timing of grant

32

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Annual Report 2022/2023

payments and consequently where approval has been given by the charitable funds committee, on behalf of the trustee, grants are considered commitments. An appropriate designation is made for these commitments in the appropriate fund until payment is due to be made at which point the expenditure and liability is recognised in the accounts. Approved commitments of expected future expenditure are disclosed in note 21.

1.12 Allocation of support costs and overheads

Support costs are those costs which do not relate directly to a single activity, including governance costs, that are costs which relate to the strategic as opposed to the day to day management of a charity.

Support costs include some staff costs, costs of administration and external audit costs. They have been apportioned between the cost of raising funds and charitable activities on the basis of expenditure incurred in relation to each category. The analysis of support costs and the apportionment is shown in note 7.

1.13 Fundraising costs

The costs of generating funds are those costs attributable to generating income for the charity, other than those costs incurred in undertaking charitable activities or the costs incurred in undertaking trading activities in furtherance of the charity’s objects. The costs of generating funds represent fundraising costs together with investment management fees. Fundraising costs include expenses for fundraising activities and salaries and overhead costs paid to a related party, Lancashire Teaching Hospitals NHS Foundation Trust, shown in note 2.

Quarterly management fees are offset against commission charges. Fees that exceed the commission charge are deducted from the funds on deposit are shown in note 4.

1.14 Charitable activities

Costs of charitable activities comprise all costs incurred in the pursuit of the charitable objects of the charity. These costs, where not wholly attributable, are apportioned between the categories of charitable expenditure in addition to the direct costs. The total costs of each category of charitable expenditure include an apportionment of support costs as shown in note 5.

1.15 Tangible fixed assets

Property, plant and equipment is capitalised if:

Equipment assets are carried at depreciated historic cost, as this is not considered to be materially different from fair value.

The Rosemere Coffee Shop has equipment assets that are depreciated on a reducing balance basis at 15% in order to write them off over their remaining useful life, in a manner which reflects the consumption of economic benefit or service potential of the assets.

1.16 Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value (market value) as at the balance sheet date using the quoted market bid price. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

All realised and unrealised gains and losses are combined in the Statement of Financial Activities and are taken as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening carrying value or their purchase value, if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value.

1.17 Inventories

Inventories are valued at the lower of cost and net realisable value.

1.19 Cash and cash equivalents

Cash at bank and in hand is held to meet the day to day running costs of the charity as they fall due. Cash equivalents are short term, highly liquid investments, held in interest bearing savings accounts.

1.20 Creditors

Creditors and provisions are amounts owed by the foundation. They are recognised when the Foundation has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount.

Amounts which are owed in more than a year are shown as long term creditors.

1.21 Financial instruments

Financial assets and financial liabilities are recognised when the Foundation becomes a party to the contractual provisions of the instrument. All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The foundation only holds financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

1.22 Remuneration and benefits

No staff are directly employed by the Foundation. All staff engaged in the activities of the Foundation are employed by Lancashire Teaching Hospitals NHS Foundation Trust. The Foundation is recharged for individuals time spent engaged in either charitable activities, raising funds or providing support (e.g. back office functions) to the Foundation.

All recharged staff members belong to the NHS Pension Scheme which is an unfunded defined benefit scheme, accounted for as a defined contribution scheme. The recharge from Lancashire Teaching Hospitals NHS Foundation Trust includes the employer contributions to that scheme. For more information on the NHS Pension Scheme refer to the Lancashire Teaching Hospitals NHS Foundation Trust annual report and accounts.

2. Related party transactions

The Rosemere Cancer Foundation is managed by the Corporate Trustee which is also the Board of Directors of Lancashire Teaching Hospitals NHS Foundation Trust which is the main beneficiary of the Foundation. During the year the Foundation made revenue and capital payments to Lancashire Teaching Hospitals NHS Foundation Trust of £1,486k (2021/22: £1,495k), including grants of £1,587k (2021/22: £1,008k).

The Foundation was recharged £235k (2021/22: £219k) for staff that worked for the Foundation throughout the year, whose contracts are paid by Lancashire Teaching Hospitals NHS Foundation Trust. This includes accounting and administrative support provided to the Foundation at a cost of £22k (2021/22: £21k).

During the year none of the Trustees or members of the key management staff or parties related to them, have undertaken any material transactions with The Rosemere Cancer Foundation or received any benefit from the foundation in payment in kind. (2021/22: £nil).

As at 31 March 2023 £555k (2021/22: £49k) was owed to Lancashire Teaching Hospitals NHS Foundation Trust.

The Trustee purchased trustee indemnity insurance at a cost of £3k. (2021/22: £3k).

The Foundations’ investment portfolio is pooled with that of Lancashire Teaching Hospitals Charity. The Foundation receives an apportionment of the income and expenditure related to the investments based on its share (28%) of the portfolio (2021/22: 29%).

1.18 Debtors

Debtors are amounts owed to the foundation. They are measured on the basis of their recoverable amount. Prepayments are valued at the amount prepaid.

Annual Report 2022/2023

Annual Report 2022/2023

3. Incoming resources

3.1 Income from donations and legacies

3.1 Income from donations and legacies
Donations
Corporate donations
Legacies
Grants
Total		 Unrestricted
Restricted
2022/2023
Funds
Funds
Total
£000
£000
£000
223
136
359
25
75
100
179
570
749
14
34
48
441
815
1,256		 2021/2022
Total
£000
315
31
724
111
1,181

Donations of goods £7k (2021/22: £7k) are included in income valued at their market value. All of these donations have been distributed during the year.

4. Analysis of expenditure on raising funds

4. Analysis of expenditure on raising funds
Unrestricted
Funds
£000
Fundraising team
42
Fundraising activities
8
Advertising / marketing
19
Event expenses
-
Trading activities
3
Investment management fees
4
Support costs
6
Total
82		 Restricted
2022/2023
Funds
Total
£000
£000
101
143
19
27
35
54
-
-
-
3
-
4
10
16
165
247		 2021/2022
Total
£000
126
5
39
19
1
5
19
214

5. Analysis of expenditure on charitable activities

3.2 Charitable activities income

3.2 Charitable activities income
Community Fundraising Groups
Events
Merchandise
Others
Total		 Unrestricted
Restricted
2022/2023
Funds
Funds
Total
£000
£000
£000
128
93
221
49
63
112
13
4
17
3
11
14
193
171
364		 2021/2022
Total
£000
187
97
12
16
312

Comparatives of charitables activities income have been restated to provide analysis of the material components as per the requirements of the SORP.

The charity pursued its charitable activities by making grants. Support costs have been apportioned across the categories of charitable expenditure on the basis of the number of individual transactions and the associated transaction cost incurred by the charity, disclosed in note 7.

Patient Environment and Wellbeing
Staf Education and Wellbeing
Research
Medical Equipment
Total		 Grant funded
Support
2022/2023
Activity
Costs
Total
£000
£000
£000
152
10
162
30
2
32
49
3
52
1,356
91
1,447
1,587
106
1,693		 Grant funded
Support
2021/2022
Activity
Costs
Total
£000
£000
£000
835
77
912
48
4
52
94
9
103
48
4
52
1,025
94
1,119

Grants were approved to carry out activities that will benefit patients and their families.

3.3 Income from other trading activities

3.3 Income from other trading activities
Rosemere Cofee Shop Ltd sales
3.4 Investment income
Dividend income
Bank account interest
Total		 Unrestricted
Restricted
2022/2023
Funds
Funds
Total
£000
£000
£000
12
-
12
Unrestricted
Restricted
2022/2023
Funds
Funds
Total
£000
£000
£000
15
-
15
6
-
6
21
-
21		 2021/2022
Total
£000
7
2021/2022
Total
£000
11
-
11

The charity incurred expenditure with third parties in pursuance of those grants.

6. Analysis of grants

The Foundation does not make grants to individuals. All grants are made to the Lancashire Teaching Hospitals NHS Foundation Trust or other institutions to provide care of NHS patients in furtherance of our charitable aims. The total cost of making grants, including support costs is shown on the face of the Statement of Financial Activities and the actual disbursement for each category of charitable activity is disclosed in note 5.

Institutions receiving grant support:
Lancashire Teaching Hospitals NHS FT
Blackpool Teaching Hospitals NHS FT
University Hospitals of Morecambe Bay NHS FT
East Lancashire Hospitals NHS Trust
Total amount paid		 2022/2023
Total
£000
1,459
24
19
85
1,587		 2021/2022
Total
£000
1,008
-
17
-
1,025

Annual Report 2022/2023

Annual Report 2022/2023

7. Allocation of support costs and overheads

Support and overhead costs are allocated between fundraising activities and charitable activities. Governance costs are those support costs which relate to the strategic rather than day to day management of the foundation. These costs are apportioned across the activities on the basis of expenditure incurred in relation to each category.

8. Trustee remuneration, benefits and expenses

The members of Lancashire Teaching Hospitals NHS Foundation Trust board give their time freely and receive no remuneration for the work that they undertake in relation to the charity. No expense claims were reimbursed to members of the board, by the charity in 2022/23. (2021/22: £nil). For more information on the Board members remuneration refer to the Lancashire Teaching Hospitals NHS Foundation Trust annual report and accounts.

7.1 Analysis of total support costs

Financial Administration
Information Technology
Professional fees
Administration costs
Salary recharges
External Audit
Subscriptions / memberships
Bank Charges
Total		 Raising
Charitable
2022/2023
Raising
Charitable
2021/2022
funds
Activities
Total
funds
Activities
Total
£000
£000
£000
£000
£000
£000
3
19
22
3
18
21
-
3
3
1
3
4
1
6
7
1
3
4
-
1
1
1
5
6
9
61
70
12
61
73
2
10
12
1
3
4
1
6
7
-
-
-
-
-
-
-
1
1
16
106
122
19
94
113
Unrestricted
Funds
£000
Governance costs
17
Support costs
26
Total
43
Restricted
2022/2023
Funds
Total
£000
£000

29
46

50
76

79
122		 2021/2022
Total
£000
38
75
113

7.2 Auditor’s remuneration

Total Audit Fees for 2022/23 were £9,950 (excluding VAT) which related solely to the audit with no additional work undertaken (2021/22: £3,370). The audit fee is included within governance costs.

7.3 Support cost allocation

Raising Funds
Charitable Activities
Total		 Unrestricted
Restricted
2022/2023
Funds
Funds
Total
£000
£000
£000
6
10
16
37
69
106
43
79
122		 2021/2022
Total
£000
19
94
113

9. Analysis of staff costs and remuneration of key management personnel

Salaries and wages
Social Security costs
Employer contributions
Total
Fundraising
Finance Support
Administration Support
Total		 2022/2023
£000
25
26
235
144
22
69
235		 2021/2022
£000
24
25
220
126
21
73
220

All staff engaged in the activities of the Foundation are employed by Lancashire Teaching Hospitals NHS Foundation Trust. No staff are directly employed by the charity.

The average number of full-time and part-time employees during the year was 4 and 2 respectively (2021/22: 2 / 4), an estimated number of full-time equivalent employees of 6 (2021/22: 6). These employees are involved in fundraising and providing support to the charitable activities or the governance of the foundation.

The Rosemere Cancer Foundation considers its key management personnel to be the member of the Lancashire Teaching Hospitals NHS Foundation Trust board, acting on behalf of the corporate trustee and the Head of Charities and Fundraising and the Foundation’s Chief Officer. The total employment benefits included employer pension contributions of the key management personnel were £68k (2021/22: £64k).

No employees had emoluments in excess of £60k (2021/22: none).

Annual Report 2022/2023

Annual Report 2022/2023

10. Tangible fixed assets

Gross Cost as at 1 April 2022
Additions
Gross cost at 31 March 2023
Accumulated depreciation as at 1 April 2022
Provided during the year
Accumulated depreciation at 31 March 2023
Net book value at 31 March 2023
Net book value at 1 April 2022		 2022/2023
2021/2022
£000
£000
9.3
9.3
0.4
0.0
9.7
9.3
6.7
6.2
0.5
0.5
7.2
6.7
2.5
2.6
2.6
3.1

11. Fixed asset investments

11.1 Movement in fixed asset investments

11.1 Movement in fxed asset investments
Market value brought forward
Add : acquisitions at cost
Less: disposals at cost
Realised and unrealised (loss) / gain for the year
Market value at 31 March
Historic cost
11.2 Total gains / losses on investments
Unrealised (loss) on carrying value of the investments
(Loss) / gain on sale of investments
Total realised and unrealised (loss) / gain for the year
11.3 Fixed asset investments by type
Listed equity investments
Fixed interest investments
Other investment funds
Total market value		 2022/2023
£000
399
449
(435)
(43)
370
371
2022/2023
£000
(36)
(13)
(49)
2022/2023
£000
87
185
98
370		 2021/2022
£000
387
313
(314)
13
399
381
2021/2022
£000
(27)
40
13
2021/2022
£000
90
237
72
399

The foundation manages these investment risks by retaining expert advisors and operating an investment policy that provides for a high degree of diversification of holdings within investment asset classes. All investments were made in companies listed on a UK stock exchange or incorporated in the UK and therefore all investments are treated as investment assets in the UK.

12. Subsidiaries

Rosemere Coffee Shop Limited (07913994) was incorporated on 18th January 2012 and is wholly owned by The Rosemere Cancer Foundation and is engaged in the catering trade. Details of its trading activities are set out below.

12.1 Subsidiary results
Income
Costs
Net proft
Retained in subisdiary at beginning of year
Amount gif aided to Rosemere Cancer Foundation Charity
Retained in subsidiary
12.2 Summarised balance sheet of subsidiary trading company
Fixed Assets
Inventories
Cash and cash equivalents
Creditors: amounts falling due within one year
Creditors: amounts falling due afer more than one year
Total net assets
Capital and reserves		 2022/2023
£000
35
(26)
9
(5)
(5)
9
2022/2023
£000
3
3
19
(5)
(11)
9
9		 2021/2022
£000
8
(2)
6
(1)
5
2021/2022
£000
3
5
9
(1)
(11)
5
5

These accounts have been prepared by McMillan & Co LLP, Chartered Accountants, 28 Eaton Avenue, Matrix Office Park, Buckshaw Village, Chorley, PR7 7NA.

The £9k profit retained in the subsidary will be gift aided to the charity post year end.

13. Inventories

13. Inventories
Inventories comprise fnished goods held for resale
Total
14. Analysis of debtors
Amounts falling due within one year.
Debtors
Accrued income
Prepayments
Loan due from subsidiary undertaking
Total		 Group
2022/2023
2021/2022
£000
£000
3
5
Group
2022/2023
2021/2022
£000
£000
-
-
6
-
-
3
-
-
6
3		 Parent
2022/2023
2021/2022
£000
£000
-
-
Parent
2022/2023
2021/2022
£000
£000
-
-
6
-
-
3
11
11
17
14

Annual Report 2022/2023

Annual Report 2022/2023

15. Analysis of cash and cash equivalents

Charity bank account
Subsidiary bank account
Stockbroker deposit account
Total		 Group
2022/2023
2021/2022
£000
£000
1,767
1,519
20
9
6
16
1,793
1,544		 Parent
2022/2023
2021/2022
£000
£000
1,767
1,519
-
-
6
16
1,773
1,535

16. Analysis of changes in net debt

16. Analysis of changes in net debt
Cash and Cash equivalents
Total		 At 1 April
Cash fows
2022
£000
£000
1,544
249
1,534
249		 At 31 March
2023
£000
1,793
1,793

17. Analysis of creditors

17. Analysis of creditors
Amounts falling due within one year.
Creditors
Social Security and other taxes
Accruals and deferred income
Total		 Group
2022/2023
2021/2022
£000
£000
566
49
2
-
46
9
614
58		 Parent
2022/2023
2021/2022
£000
£000
562
49
-
-
46
9
608
58

The creditor figure represents the sum owed at the end of the year by the charity to a related party, Lancashire Teaching Hospitals NHS Foundation Trust. There are no creditors falling due after more than one year.

18. Analysis of charitable funds movements

At
Restricted funds
Unrestricted funds		 Balance
Incoming
Resources
Gains and
Balance
31 March
Resources
Expended
Losses
At 31 March
2022
2023
£000
£000
£000
£000
£000
-
986
(986)
-
0
1,896
667
(953)
(49)
1,561
1,896
1,653
(1,939)
(49)-
1,561

The unrestricted funds are used to fund activities in furtherance of the foundation’s objectives.

19. Reconciliation of net income/(expenditure) to net cash flow from operating activities

19. Reconciliation of net income/(expenditure)
to net cash fow from operating activities
Net income / expenditure for 2022/23 (as per the SOFA)
Depreciation
Loss / (Gain) on investments
Dividends, interest and rents from investments
Decrease / (Increase) in inventories
Decrease / (increase) in debtors
(Decrease) / increase in creditors
Net cash (used) / provided in operating activities
20. Contingent assets and liabilities
Legacies		 2022/2023
£000
(335)
1
49
(21)
2
(3)
556
249
2022/2023
£000
569		 2021/2022
£000
191
-
(13)
(11)
(5)
3
(167)
(2)
2021/2022
£000
1,006

Potential legacies not yet received that have been identified from Wills and Testaments have an estimated value of £569k.

21. Commitments

The Charity has the following outstanding commitments at the end of the year as they have made a provisional agreement to fund various projects and items of equipment. These have not been accounted for in the SOFA.

Total commitments outstanding as at 31 March 2023 2022/2023
£000
759		 2021/2022
£000
528

As described in note 6, the foundation awards a number of grants in the year. Included in commitments are many grants that are awarded and expected to be paid out in the next financial year as well as number of multi-year grants; those that relate to research and development or for funding specific posts will be paid over a longer period.

As the foundation has control over the award and timing of payment of grants, they remain commitments until there is certainty about the payment that will be funded from existing and future reserves.

22. Events after the reporting period

There are no adjusting events after the reporting period. However, it should be noted that these accounts have not been consolidated into the main accounts of Lancashire Teaching Hospitals NHS Foundation Trust due to materiality.

The £9k profit retained in the subsidary will be gift aided to the charity post year end.

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