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← The Rosemere Cancer Foundation

2024-03-31-accounts

J3rosemere CANQIR FOUN DA TION Reg Chaniy No 1131583 Annual Report & Accounts 2023/2024

Annual Report 2023/2024

Contents

3 Chair’s welcome

8 Your Support - our achievements and performance

11 Our fundraising practices

12 How we spend charitable funds 13 Commitments for the next financial year

16 Structure, Governance and Management 16 Structure

16 Charitable Funds Committee 17 Rosemere Management Committee 17 The Funds

17 Connected Parties and Linked Charities

17 Risk Management and Internal Controls 18 Principal risks and uncertainty facing the Foundation 18 Internal Control 19 Trustee and Advisors and Contact Details for the Foundation

23 Going Concern 23 Reserves Policy 23 Investment Policy

31 Consolidated Cash Flow Statement for the year ended 31 March 2024

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Annual Report 2023/2024

Chair’s welcome

It’s been 12 months since I stepped into the role of Chairman here at Rosemere Cancer Foundation, and I’d like to thank you, our supporters, for welcoming me so warmly.

It’s been wonderful to meet so many people undertaking so many inspiring feats of fundraising, and I’ve been proud to join hundreds of you at various Rosemere events throughout the year.

I officially commenced my role in July of the 2023/24 financial year, after acting as Interim Chair for a number of months. The Charity started that year on a high, having just reached its £1.3m target to bring Surface Guided Radiotherapy to the Rosemere Cancer Centre the year earlier. That high did not waver; despite going above and beyond during the previous financial year to reach the ambitious 25th Anniversary Appeal target, you continued to show the same enthusiasm and determination throughout 2023/24.

My first year in post as Chairman saw me attending the opening of a home-from-home unit for blood cancer patients in Blackpool; it saw me watching as Royal Preston Hospital become the first hospital in the UK to diagnose lung cancer using the Lung Vision Navigation System, and seeing surgeons in Blackburn gain access to the very latest kit to help them care for head and neck cancer patients.

All of this, and more, happened because of you - our donors, fundraisers and volunteers.

Thanks to you, Rosemere Cancer Foundation is making a real difference for cancer patients across the region, and will continue to do so for as long as we have your support.

Thank you John Hodgson, Chair

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:

We would like you to support us in our crucial work so please read on and let us tell you more about ourselves, what we do, what we have achieved and how we go about spending the money given to us.

Annual Report 2023/2024

Our aims and objectives

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 for the benefit of 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, wellbeing 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 2023/24, grants totalling £1,124K were made.

Annual Report 2023/2024

How to support us

Get Involved

For details on volunteering opportunities, our events or to let us know what you have planned, please visit www. rosemere.org.uk, email rosemere@lthtr.nhs.uk or call the fundraising team on 01772 522913.

Making a Donation

To make a donation online please visit www.rosemere.enthuse.com/donate

Gifts in Memory

Many thousands of pounds are given each year to the charity in memory of friends and family who have sadly passed away. These funds really help us to improve facilities, fund research or buy extra equipment that will benefit our patients, creating something very positive out of a sad personal loss.

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.

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Annual Report 2023/2024

Get In Touch

For information about Gift Aid, legacy donations and the many other ways you may wish to support, please visit www.rosemere.org.uk, email rosemere@lthtr.nhs.uk or call the fundraising team on 01772 522913. We would love to hear from you.

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Our Walk in the Dark, our Cross Bay Walk, and our Walk the Lights events saw strong numbers once again, with over metre ie 1,000 participants across all three of these flagship events, raising approximately £70,000 between them through entry fees and donations. We also introduced our first Christmas carol concert at The Parish Church of St John Baptist, Broughton, which received such positive feedback that we plan to repeat the event in December 2024.

A large number of third-party fundraising events were held for us, and we saw the return of a number of established events that were once again successful. These included the return of Lytham Car Show, which raised over £17,800, The Taps Bike Ride which raised £3,500, and the Ribble Valley Ride, from which we received over £3,300. We had 27 runners take part in the 2023 Great North Run, who collectively raised over £19,000 for us, and we were delighted to receive £5,500 from the Keswick to Barrow Committee following May’s Keswick to Barrow Walk, in which supporter Vicki Bloomer managed a large team of Rosemere walkers.

Annual Report 2023/2024

Charitable Trust activity continued to perform well over this last financial year, and we were delighted to receive grants of over £53,000 from a number of different trusts. These included £4,000 from The Barratt Foundation to go towards the roll-out of Surface Guided Radiotherapy Treatment at the Rosemere Cancer Centre; £2,000 each from The David Brooke Charity and The Hospital Saturday Fund towards a top of the range surgical saw for Royal Blackburn Hospital; £2,000 from The Harold and Alice Bridges Charity to support the creation of a quiet room at Blackpool Victoria Hospital; and a generous gift of £3,382 jointly from The Rhodi Charitable Trust and the HVM Foundation to provide dermatoscopes for Lancashire Teaching Hospitals skin cancer clinical nurse specialists.

We also received £3,000 from The Medicash Foundation to support free of charge complementary therapies at Lancashire Teaching Hospitals, and £2,000 from The D J Sidebottom/Glasdon Charitable Programme for the same at Blackpool Teaching Hospitals.

Our digital profile is continuing to grow, 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, end-of-year Thank You mailer and thank you event.

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.

Annual Report 2023/2024

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 £1,492k (2022/23: £1,653k) received in this financial year:

Our total legacy income in 2023/24 came to just over £416k (2022/23: £749k). 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.

Investment income for 2023/24 was £30k, (2022/23: £21k) in the form of dividends and bank interest as we managed funds not immediately required. The 2023/24 accounts for the Rosemere Coffee Shop Ltd, the coffee shop based within the Rosemere Cancer Centre and managed by a team of volunteers, comes to £35k.

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.

e Donations: 30% e Charitable Activities: 34% e Legacies: 28% e Investments: 2% e Grants: 4% e Trading Activities: 2%

Our income from “donations” came to £509k, and is made up of general donations from supporters, trusts and corporate supporters, as well as payroll giving, regular givers, and the cost equivalent of gift in kind donations. Corporate supporters and trusts income came to £196k of this total.

“Charitable activities” income came to £502k and includes our own events (our annual Cross Bay Walk, Walk in the Dark, and Walk the Lights), challenge events such as the Great North Run, and community events and activity.

Annual Report 2023/2024

Our fundraising practices

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.

We do not use external professional fundraisers or involve commercial participators. There have been no complaints about 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.

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 do so.

Annual Report 2023/2024

How we spend charitable funds

Of 2023/24’s total expenditure of £1,511k (2022/23: £1,939k), the amount spent on charitable activities, excluding support and fundraising costs, was £1,245k (2022/23: £1,692k)

Charitable activities spend covers a wide range of programmes from major capital projects to the purchase of medical equipment, the support of patient welfare projects both small and large, the provision of additional training for oncology staff across the region, and local 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.

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

Grants for medical equipment: £775k / 52%

Grants for patient environment and wellbeing: £227k / 15%

Grants for clinical research: £110k / 7%

Grants for staff education and wellbeing: £12k / 1%

Raising Funds: £266k / 17%

Our largest area of spend was on grants for medical equipment, which totalled over £775,000.

£237,500 of this total allowed the Royal Preston Hospital to become the first hospital in the UK, and just the third centre in the whole of Europe, to be able to diagnose lung cancer using the Lung Vision Navigation System. Using our charitable funds, we purchased this top-of-the-range system for Lancashire Teaching Hospitals’ respiratory team, which works alongside consultants on-site at the Rosemere Cancer Centre to treat lung cancer patients from throughout Lancashire and South Cumbria.

As one of the world’s most advanced pulmonary navigational software systems, it will speed up the diagnostic process by enabling doctors to examine inside a patient’s lungs in real time, penetrating deeper and reaching areas they were previously unable to reach to take biopsy samples.

Our medical equipment spend also supported lung cancer patients cared for by the University Hospitals of Morecambe Bay NHS Foundation Trust, as we spent £55,000 on a specialist AI programme supplied by leading healthcare technology firm Annalise.ai.

The funds covered the set up and first year running costs of the programme, which uses specialist kit to triage chest X-rays that show suspected lung nodules. This will expedite follow-up investigations and help provide better patient outcomes, meaning an improvement in the detection of lung cancers as well as a reduction of delays to diagnosis.

A portion of these funds also went towards our roll-out of Surface Guided Radiotherapy equipment across the radiotherapy department in the Rosemere Cancer Centre, the funds for which had been raised in the 2022/23 financial year as part of our successful 25th Anniversary Guiding Light Appeal.

Charitable activity support costs: £121k / 8%

Annual Report 2023/2024

£227,000 of our charitable spend went towards projects aimed at supporting patient wellbeing and improving the hospital environment for patients.

£70,000 of this went to support the refurbishment of Rosemere House, a newly reopened residential facility near Blackpool Victoria Hospital which will provide blood cancer patients with comfortable, homely accommodation instead of them having to endure long hospital admissions throughout their treatment. Grants from this area of spend also funded six new Paxman Scalp Cooling Systems for the chemotherapy units at the Royal Preston Hospital and Chorley and South Ribble Hospital, meaning that cancer patients cared for on these units who are at the risk of chemotherapy-induced hair loss can now have a greater chance of retaining their hair. This spend also 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.

Smaller patient welfare projects funded included the purchase of ice creams and the continuation of a Fruit Cocktail & Canape Service for patients on the Ribblesdale Ward at Royal Preston Hospital, and the continued provision of iPods, speakers and a Spotify subscription for the Radiotherapy Department to help make the patient environment more welcoming.

£266,000 including £25k of support costs 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.

Commitments for the next financial year

Following such a successful year of fundraising, we’re in a position to commit to funding a number of exciting and new projects during 2024/25. These projects will be decided during our next funding rounds, where applications will be welcomed for new equipment, patient welfare projects, local research and staff wellbeing and training initiatives.

There are currently three separate innovative research projects, recommended for funding through our Research Sub-Committee, who have the specific experience and knowledge to advise on proposed research projects, awaiting final funding approval by the Trusts Charitable Funds Committee. These projects consist of research into the development of an alternative diagnostic method to biopsies for prostate cancer patients; research into identifying the most effective form of treatment for anal cancers; and research into the better understanding of oncology patients’ preferences regarding advance care planning.

Staff education projects received £12,000 this year, to help local clinical staff be the very best they can be, and £110,000 went towards clinical research projects, which included the three-year Late Effects of Pelvic Radiotherapy Pilot Study at Royal Preston Hospital – a project that was deemed so beneficial for patients, we are delighted to say that it has since been granted permanent NHS funding.

Over the last few years (since the pandemic made traditional fundraising very difficult) we have diversified ate our fundraising income streams, actively supporting more | fundraising via charitable trusts, promoting legacy giving, and via digital means. Now that charitable events and activities within the community are back to their pre-pandemic levels, we are doing our best to make the most of all fundraising options available to us.

We’ll continue to place a significant emphasis on supporter engagement and stewardship through our newsletters, impact reports, end-of-year mailings and acknowledgements, to ensure that supporters know how much we appreciate their kindness.

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 the local press, social media, and other publications where appropriate.

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

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:

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

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.

Annual Report 2023/2024

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 non-executive 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.

The restricted fund that was created in April 2022 for the creation of the 25th Anniversary Appeal was closed in the same financial year (2022/23) as the appeal target was reached.

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 the relevant action plans and ensure that all appropriate controls are in place or have been identified.

Principal risks and uncertainty facing the Foundation

As part of the business planning exercise carried out during the year, the Charitable Funds Committee has considered the major risks to which the Foundation is exposed. They have reviewed processes and identified steps to mitigate three risks that have been identified:

Annual Report 2023/2024

Future levels of income

The Foundation is reliant on donations to allow it to make grants to NHS bodies. If income falls, then the charity would not be able to make as many grants or enter into longer term commitments with the NHS bodies it supports.

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:

The Committee mitigates the risk that income will fall by engaging with the Head of Charities. They regularly review the events calendar to understand what is working well and how things could be done better, or to consider what new events could be introduced.

The cost of living remains a significant pressure on many people’s lives. This is continuing to have an impact on the amount that people are able to donate to charity and is being closely monitored.

Fall in investment returns

The Foundation generates additional income from investing its cash, so a decline in market values resulting in the loss of investment income is considered to be a major financial risk.

This risk is mitigated by retaining expert investment managers and having a diverse portfolio that is regularly reviewed. The current category of risk for the portfolio is five (moderate). The Foundation’s reserves and investment policies on page 23 are designed to ensure that no unnecessary risks are taken.

Financial challenges in the region

The NHS, by its very nature, is subject to national changes

in government policy as well as local politically driven decisions. The charity aims to support the NHS Trusts within the Lancashire and South Cumbria region, but they are all financially challenged and currently operating with financial deficits.

The committee are well aware of the challenges faced across the region and the Executives that sit on the Committee are able to provide an insight on any potential changes to services, to ensure this does not have any negative impact on the charity.

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

Annual Report 2023/2024

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:

----- Start of picture text -----
Responsibility Name Post From To
Chief Executive Officer Silas Nicholls 08/01/2024
Interim Chief Executive Officer Faith Button 01/10/2023 07/01/2024
Chief Executive Officer Kevin McGee 30/09/2023
Chief Operating Officer Katie Foster-Greenwood 12/08/2024
Interim Chief Operating Officer Emma Ince 10/06/2024 11/08/2024
Interim Chief Operating Officer Imran Devji 01/10/2023 09/06/2024
Chief Operating Officer (Interim CEO during year as stated above) Faith Button 16/02/2024
Interim Chief Finance Officer David Stonehouse 02/09/24
Chief Finance Officer / Deputy Chief Executive Jonathan Wood 01/09/2024
Chief Medical Officer Geraldine Skailes
Chief Nursing Officer Sarah Cullen
Chief People Officer Neil Pease 01/12/2024
Interim Chief People Officer Nikki Latham 01/06/2023 30/11/2023
Chief People Officer Karen Swindley 31/05/2023
Chief Information Officer Stephen Dobson
Director of Continuous Improvement Ailsa Brotherton
Director of Strategy and Planning Gary Doherty
Director of Communications and Engagement Naomi Duggan
Company Secretary Jennifer Foote
Chair Peter White 01/08/2023
Vice Chair / Non-Executive Director Paul O’Neill
Senior Independent Director Tim Watkinson
Non-Executive Director Tim Ballard 01/10/2023
Non-Executive Director Victoria Crorken
Non-Executive Director Kate Smyth
Non-Executive Director Ann Pennell 31/05/2023
Non-Executive Director Jim Whitaker 01/07/2024
Non-Executive Director Tricia Whiteside
Associate Non-Executive Director Uzair Patel 01/10/2023
Associate Non-Executive Director Michael Wearden 09/06/2024
Associate Non-Executive Director Peter Wilson 15/06/2024
----- End of picture text -----

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

Annual Report 2023/2024

Charitable Funds Committee members: 02/09/2024

----- Start of picture text -----
Responsibility Name Post From To
----- End of picture text -----

Non-Executive Director Kate Smyth
(Chair of Committee from October 2021)
Non-Executive Director Tricia Whiteside
Non-Executive Director Victoria Crorken
Chief Medical Ofcer Geraldine Skailes
Chief Nursing Ofcer Sarah Cullen
Interim Chief Finance Ofcer David Stonehouse 02/09/2024
Chief Finance Ofcer / Deputy Chief Jonathan Wood 01/09/2024
Executive

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

Rosemere Management Committee members:

----- Start of picture text -----
Responsibility Name
----- End of picture text -----

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 Kish Pursnani 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 Cancer Clinician 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 Steph 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 &Chair from Octo- John Hodgson Lay Member
ber 2023
Vice Chair from October 2023 Jacob Knowles Lay Member

Annual Report 2023/2024

Information

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 St Rd, Fulwood, Preston PR2 8DY

The following advisors were retained by the Foundation in 2023/24:

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

RBC Brewin Dolphin 1 The Avenue Spinningfields Square Manchester M3 3AP

Solicitors

Windmill Green 24 Mount Street Manchester M2 3NX

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The Charity’s annual accounts have been produced in accordance with FRS102 as were the previous years. Therefore, no adjusting entries were required for the comparative year.

The charity is reporting a surplus for the year before adjustments for market value gains and losses on investments of £58k. (2022/23: loss of £49k)

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 £55k. This offset the earlier unrealised loss and the actual net gain on the sale of investments of £3k resulted in a net gain on investments of £58k (2022/23: loss of £49k) for the year.

Incoming resources of £1,492k were £161k lower than 2022/23. This represents a 10% decrease.

• Income from donations, legacies and grants of £925k was £331k less than the previous year primarily due to a decrease in legacies.

• Investment income was £9k higher than last year, due to the increase in bank interest rates. The charity received a higher share of the dividend income as per the apportionment that is based on the balance of funds for the charities in the investment pool that is assessed at the start of each financial year.

• Income from charitable activities of £502k has continued to grow in 2023/24. Another busy event calendar has generated £138k more than the previous year.

Support costs of £146k were £24k higher than 2022/23. This is due to the increase in staff costs following the Agenda for Change pay award, as well as additional resource required to support the charity.

Net current assets of £1,152k were £36k lower at the end of the year compared to last year. This is primarily due to changes in cash due to creditors.

Total Charity funds at the end of the year were £39k higher than 2022/23 at a level of £1,600k required to fund the Charity’s outstanding commitments for various projects and items of equipment.

• Other trading income was £35k, £23k higher than 2022/23. This increase reflects the hard work of our Rosemere Coffee Shop volunteers, in gradually increasing their trading hours and adding to the refreshment options available to buy.

Annual Report 2023/2024

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 costof-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 combined with the investment policy and reviewed in September 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 2024 the Charity held total unrestricted reserves of £1,600k (2022/23: £1,561k).

The total realised and unrealised gain recognised in 2023/24 is £58k (2022/23: loss £49k). This is the result of a gain on the sale of investments of £3k (2022/23: loss £13k) and a gain on the carrying value of the investments of £55k (2022/23: loss of £36k).

The Trustee aims to maintain free reserves in unrestricted funds at a level which equates to approximately six months of operating expenditure £182k. 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 £749k to be funded from unrestricted reserves. The value of reserves held after making allowances for these commitments and free reserves is £669k.

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

Investment Policy

The policy is reviewed every three years; 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.

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:

Peter White Sarah Cullen Chair Trustee Date: 17/09/2024 Date:

Date: 17/09/2024

24 O

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 2024 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:

• give a true and fair view of the state of the charity’s affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;

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.

Annual Report 2023/2024

Conclusions relating to going concern

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

• the trustee has not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the group’s or the parent charity’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The other information comprises 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:

Annual Report 2023/2024

Responsibilities of trustees

As explained more fully in the Corporate Trustee Responsibilities Statement set out on page 24, 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 web-site 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 to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

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: 24 September 2024

Consolidated Statement of Financial Activities for the year ended 31 March 2024

Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Total incoming resources
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net gain on investments
Net income/ (Expeniture)
Net movement in funds
Reconciliation of Funds
Total funds brought forward
Total Funds carried forward
Notes
3.1
3.2
3.3
3.4
4
5
11.2
18
18
18		 2023/2024
2022/2023
Unrestricted
Total
Unrestricted
Restricted
Total
Funds
Funds
Funds
Funds
Funds
£000
£000
£000
£000
£000
925
925
441
815
1,256
502
502
193
171
364
35
35
12
-
12
30
30
21
-
21
1,492
1,492
667
986
1,653
266
266
82
165
247
1,245
1,245
871
821
1,692
1,511
1,511
953
986
1,939
58
58
(49)
-
(49)
39
39
(335)
0
(335)
39
39
(335)
0
(335)
1,561
1,561
1,896
-
1,896
1,600
1,600
1,561
0
1,561

Annual Report 2023/2024

Consolidated Balance Sheet as at 31 March 2024

Notes Unrestricted Total at 31 Total at 31
Funds March 2024 March 2023
£000 £000 £000
Fixed Assets
Tangible assets 10 2 2 2
Investments 11 446 466 370
Total Fixed Assets 448 448 373
Current Assets
Inventories 13 5 5 3
Debtors 14 6 6 6
Cash and cash equivalents 15 1,316 1,316 1,793
Total Current Assets 1,327 1,327 1,802
Liabilities
Creditors falling due within one year 17 (175) (175) (614)
Net Current Assets 1,152 1,152 1,188
Total Assets less Current Liabilities 1,600 1,600 1,561
Total Net Assets 1,600 1,600 1,561
The Funds of the Charity
Unrestricted income funds 18 1,600 1,600 1,561
Total Charity Funds 1,600 1,600 1,561

The financial statements on pages 28 to 43 were approved and authorised for issue by the Board of Trustees on the 17th September 2024 and approved on its behalf by the Charitable Funds Committee.

Signed: Sarah Cullen, Trustee Date: 17/09/2024

29 @

Annual Report 2023/2024

Parent Balance Sheet as at 31 March 2024

Notes Unrestricted Total at 31 Total at 31
Funds March 2024 March 2023
£000 £000 £000
Fixed Assets
Investments 11 446 446 370
Total Fixed Assets 446 446 370
Current Assets
Debtors 14 17 17 17
Cash and cash equivalents 15 1,274 1,274 1,773
Total Current Assets 1,291 1,291 1,790
Creditors falling due within one year 17 (168) (168) (608)
Net Current Assets 1,123 1,123 1,182
Total Assets less Current Liabilities 1,569 1,569 1,552
Total Net Assets 1,569 1,569 1,552
The Funds of the Charity
Unrestricted income funds 18 1,569 1,569 1,552
Total Charity Funds 1,569 1,569 1,552

The financial statements on pages 28-43 were approved and authorised for issue by the Board of Trustees on the 17th September 2024 and approved on its behalf by the Charitable

Signed:

Sarah Cullen, Trustee Date: 17/09/2024

30 @

Annual Report 2023/2024

Consolidated Cash Flow Statement for the year ended 31 March 2024

Cash fows from operating activities:
Net cash (used) / provided in operating activities
Cash fows from investing activities:
Interest received
Dividends received
Proceeds from sale of investments
Purchase of investments
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
Cash and cash equivalents at the end of the reporting period
Notes
19
3.4
3.4
11.1
11.1		 Total at 31
Total at 31
March 2024
March 2023
£000
£000
(489)
248
13
17
15
241
435
(259)
(449)
12
1
(477)
249
1,793
1,544
1,316
1,793

1. Accounting policies

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.

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. Fundraising income is back to pre-pandemic levels but there is a concern that the cost-of-living crisis will affect future giving.

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.

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).

1.3 Critical judgements in applying 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.

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.

1.5 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.

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.

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

Annual Report 2023/2024

which reflect the non-binding wishes of donors, and unrestricted funds which are at the trustees’ discretion.

The Rosemere Cancer Foundation has no restricted funds and only one unrestricted fund. The restricted fund that was created in April 2022 for the creation of the 25th Anniversary Appeal was closed in the same financial year (2022/23) as the appeal target was reached.

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 £1,492k (2022/23: £1,653k), giving rise to a surplus of £39k(2022/23: deficit £335k).

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 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

Annual Report 2023/2024

future expenditure are disclosed in note 21.

1.15 Tangible fixed assets

Property, plant and equipment is capitalised if:

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.

• It is held for use in delivering services or for administrative

purposes

• it is probable that future economic benefits will flow to, or service potential will be supplied to the charity

• it is expected to be used for more than one financial year and its cost can be measured reliably

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.

1.18 Debtors

Debtors are amounts owed to the foundation. They are measured on

Annual Report 2023/2024

the basis of their recoverable amount. Prepayments are valued at the amount prepaid.

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.

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.

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.

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 £1,441k (2022/23: £1,486k), including grants of £608k (2022/23: £1,459k).

The Foundation was recharged £278k (2022/23: £235k) 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 £23k (2022/23: £22k).

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. (2022/23: £nil).

As at 31 March 2024 £90k (2022/23: £555k) was owed to Lancashire Teaching Hospitals NHS Foundation Trust.

The Trustee purchased trustee indemnity insurance at a cost of £3k. (2022/23: £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 (30%) of the portfolio (2022/23: 28%).

Annual Report 2023/2024

3. Incoming resources

3.1 Income from donations and legacies

3.1 Income from donations and legacies
Donations
Corporate donations
Legacies
Grants
Total		 Unrestricted
2023/2024
Funds
Total
£000
£000
313
313
142
142
416
416
54
54
925
925		 2022/2023
Total
£000
359
100
749
48
1,256

Donations of goods £32k (2022/23: £7k) are included in income valued at their market value. All of these donations have been distributed during the year.

3.2 Charitable activities income

3.2 Charitable activities income
Community Fundraising Groups
Events
Merchandise
Others
Total		 Unrestricted
2023/2024
Funds
Total
£000
£000
306
306
162
162
14
14
20
20
502
502		 2022/2023
Total
£000
221
112
17
14
364

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

3.3 Income from other trading activities

3.3 Income from other trading activities
Rosemere Coffee Shop Ltd sales
3.4 Investment income
Dividend income
Bank account interest
Total		 Unrestricted
2023/2024
Funds
Total
£000
£000
35
35
Unrestricted
2023/2024
Funds
Total
£000
£000
17
17
13
13
30
30		 2022/2023
Total
£000
12
2022/2023
Total
£000
15
6
21

Annual Report 2023/2024

4. Analysis of expenditure on raising funds

Fundraising team
Fundraising activities
Advertising / marketing
Trading activities
Investment management fees
Support costs
Total		 Unrestricted
2023/2024
Funds
Total
£000
£000
163
163
22
22
49
49
4
4
3
3
25
25
266
266		 2022/2023
Total
£000
143
27
54
3
4
16
247

5. Analysis of expenditure on charitable activities

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.

7.
Patient Environment and Wellbeing
Staff Education and Wellbeing
Research
Medical Equipment
Total		 Grant funded
Support
2023/2024
Activity
Costs
Total
£000
£000
£000
227
24
251
12
1
13
110
12
122
775
84
859
1,124
121
1,245		 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

Grants were approved to carry out activities that will benefit patients and their families. 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		 2023/2024
Total
£000
608
380
84
52
1,124		 2022/2023
Total
£000
1,459
24
19
85
1,587

7. Allocation of support costs and overheads

Annual Report 2023/2024

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.

7.1 Analysis of total support costs
Financial Administration
Information Technology
Professional fees
Administration costs
Salary recharges
External Audit
Subscriptions / memberships
Bank Charges
Total
Governance costs
Support costs
Total		 Raising
funds
£000
4
-
1
-
16
2
2
-
Charitable
2023/2024

Activities
Total

£000
£000

19
23

-
-

7
8

2
2

75
91

11
13

7
9

-
-

121
146
Unrestricted
2023/2024
Funds
Total
£000
£000
50
50
96
96
146
146		 Raising
Charitable
2022/2023
funds
Activities
Total
£000
£000
£000
3
19
22
-
3
3
1
6
7
-
1
1
9
61
70
2
10
12
1
6
7
-
-
-
25 16
106
122
2022/2023
Total
£000
46
76
122

7.2 Auditor’s remuneration

Total Audit Fees for 2023/24 were £10,610 (excluding VAT) which related solely to the audit with no additional work undertaken (2022/23: £9,950). The audit fee is included within governance costs.

7.3 Support cost allocation

Raising Funds
Charitable Activities
Total		 Unrestricted
2023/2024
Funds
Total
£000
£000
25
25
121
121
146
146		 2022/2023
Total
£000
16
106
122

Annual Report 2023/2024

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 2023/24. (2022/23: £nil). For more information on the Board members remuneration refer to the Lancashire Teaching Hospitals NHS Foundation Trust annual report and accounts.

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


personnel
Salaries and wages
Social Security cost
Employer contributions
Total
Fundraising
Finance Support
Administration Support
Total		 2023/2024
£000
271
30
31
278
164
23
91
278		 2022/2023
£000
184
25
26
235
144
22
69
235

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 3 respectively (2022/23: 4/2), an estimated number of full-time equivalent employees of 6 (2022/23: 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 £24k (2022/23: £68k).

No employees had emoluments in excess of £60k (2022/23: £60k).

Annual Report 2023/2024

10. Tangible fixed assets - Group and Parent

10. Tangible fxed assets - Group and Parent

£000
Gross Cost as at 1 April 2023
Additions
Gross cost at 31 March 2024
Accumulated depreciation as at 1 April 2023
Provided during the year
Accumulated depreciation at 31 March 2024
Net book value at 31 March 2024
Net book value at 1 April 2023		 2023/2024
£000
9.7
0.0
9.7
7.2
0.4
7.6
2.1
2.5		 2022/2023
£000
9.3
0.4
9.7
6.7
0.5
7.2
2.5
2.6

11. Fixed asset investments - Group and Parent

11. Fixed asset investments - Group and Parent
11.1 Movement in fxed asset investments
Market value brought forward
Add : acquisitions at cost
Less: disposals at cost
Realised and unrealised gain / (loss) for the year
Market value at 31 March
Historic cost
11.2 Total gains / losses on investments
Unrealised (loss) / gain on carrying value of the investments
Gain / (loss) on sale of investments
Net gain on investments for the year
11.3 Fixed asset investments by type
Listed equity investments
Fixed interest investments
Other investment funds
Total market value		 2023/2024
£000
370
259
(241)
58
446

728
2023/2024
£000
55
3
58
2023/2024
£000
111
228
107
446		 2022/2023
£000
399
449
(435)
(43)
370
371
2022/2023
£000
(36)
(7)
(43)
2022/2023
£000
87
185
98
370

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.

Annual Report 2023/2024

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

12.1 Subsidiary results
Income
Costs
Net proft
Retained in subsidiary at beginning of year
Amount gif aided to The Rosemere Cancer Foundation
Retained in subsidiary		 2023/2024
£000
67
(36)
31
9
(9)
31		 2022/2023
£000
35
(26)
9
5
(5)
9

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		 2023/2024
£000
2
5
42
(7)
(11)
31
31		 2022/2023
£000
3
3
19
(5)
(11)
9
9

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

The £31k profit retained in the subsidiary will be gift aided to the charity post year end.

13. Inventories

13. Inventories
Inventories comprise fnished goods held for resale
Total		 Group
2023/2024
2022/2023
£000
£000
5
3		 Parent
2023/2024
2020/2023
£000
£000
-
-

14. Analysis of debtors

14. Analysis of debtors
Amounts falling due within one year.
Accrued income
Prepayments
Loan due from subsidiary undertaking
Total		 Group
2023/2024
2022/2023
£000
£000
3
6
3
-
-
-
6
3		 Parent
2023/2024
2022/2023
£000
£000
6
6
-
-
11
11
17
17

Annual Report 2023/2024

15. Analysis of cash and cash equivalents

Charity bank account
Subsidiary bank account
Stockbroker deposit account
Total
16. Analysis of changes in net debt
Cash and Cash equivalents
Total		 Group
2023/2024
2022/2023
£000
£000
1,271
1,767
42
20
3
6
1,316
1,793
At 1 April
Cash fows
2023
£000
£000
1,793
(477)
1,793
(477)		 Parent
2023/2024
2022/2023
£000
£000
1,271
1,767
-
-
3
6
1,274
1,773
At 31 March
2024
£000
1,316
1,316

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
2023/2024
2022/2023
£000
£000
92
566
3
2
80
46
175
614		 Parent
2023/2024
2022/2023
£000
£000
89
562
-
-
79
46
168
608

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

Balance Incoming Resources Gains and Balance
At 31 March Resources Expended Losses At 31 March
2023 2024
£000 £000 £000 £000 £000
Unrestricted funds 1,561 1,492 (1,511) 58 1,600
1,561 1,492 (1,511) 58 1,600

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

Annual Report 2023/2024

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


from operating activities
Net income / expenditure for 2023/24 (as per the SOFA)
Depreciation
(Gain) on investments
Dividends, interest and rents from investments
(Increase) in inventories
Decrease / (increase) in debtors
(Decrease) / increase in creditors
Net cash (used) / provided in operating activities
20. Contingent assets and liabilities
Legacies		 2023/2024
£000
39
1
(58)
(30)
(2)
-
(439)
(489)
2023/2024
£000
774		 2022/2023
£000
(335)
1
49
(21)
2
(3)
556
248
2022/2023
£000
569

Potential legacies that are probable but not yet received, that have been identified from Wills and Testaments, have an estimated value of £774k.

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 2024 2023/2024
£000
749		 2022/2023
£000
759

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 £31k profit retained in the subsidiary will be gift aided to the charity post year end.

Annual Report 2023/2024 Notes 44

Annual Report 2023/2024 Notes 45

Annual Report 2023/2024 Notes 46

Annual Report 2023/2024 Notes 47

J3rosemere CANCER FOUNDA TION Reg Charily No 1131583