Company Registration Number: 7493363 CRIS CANCER FOUNDATION A COMPANY LIMITED BY GUARANTEE (CHARITY No. 1140193) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ENV45728537-2320-EEAA4WCCDB 0710812024 09.'00 AM UTC
CRIS CANCER FOUNDATION A COMPANY LIMITED BY GUARANTEE (CHARITY NO. 1140193) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Index P*ge Report of the trust¢¢s Report of the audiiors Stateinent of financial activities 10 Balance sheet Cash flow statcment 12 Notes forniing part of th¢ financial statements ENV45728537-2320-EEAA49e¥ccDB 0710812024 09..00 AM UTC
CRIS CANCER FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustecs, who aT¢ also dir¢ctor5 of th¢ charitablc company for the purposes of company law, present their report along with the financial statements for the year ended J l December 202J. The financial stateinenis Comply with the Charities Act 201 I, the Coinpanies Act 2006, the Meinordnduin and Articles of A5socialion, and Accounting and Reporting by Charities.. Siateinent of Recomtnended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard in th¢ UK and R¢public of Ireland IFRS 1021. Objective5 and activities The objects of CRIS Cancer Foundation ICIUS) are to protect and proinole the health of the public through supporting research into the nature. causes. diagnosis, prevention, treaimeni and cure of all fom)s of cancer, including the developmeni of research findings inio practtcal applications foi the pievention, treatment and cute of cancer and to pmvide inforniaiion and raise ptsblic undersianding of such mat1$. Public benefit The directors have complied with section 17(51 of the 2011 Charities Att, haVg due regard for the Charity Commi55ion'5 guid8noe on publie ben¢fit when r¢Yiewing th¢ Iru5t's aims and objectives. Achievements &nd performance 2023 has been an exceptional year for the CRIS Cancer Foundation, as we continue io expand and solidify our presence in the UK. We recognise that only through dedicated investinenl in research can we hope to defeai cancer a relentless disease that poses an escalaiing global health challenge. This year CRIS achieved a total income of £3,010.944, a 680/0 increase over the prev20us year, with a subsiantial £1.713,L46 invested in research. represeniing a 170/0 increase from last year. We enhanced our Annual Gala by hosting li ai the prestigious Naruial History Museum in London. This move, made possible by our sponsors ILJ. O'Brien and Tradeweb. significantly boosted the gala's income. In addilion to strengthening our Annual Gala. we have been creating altetnative revenue Streams through consolidating partnetships wilh co4)orations such as AKO Foundation. Goldman Sachs. General Atlantic. and esiablishin8 new links wilh olheES such as ICE Futures Europe. A key highlight of our Siialegic expansion in fijndrdising efforts this year was ihe iniToduciion of sorne new dnd divers¢ ev¢tklS. Among these, the standout was an exceptional gathering featuring the acclaitned soprano Ainhoa Arteta and Mi¢h¢lin-starred ch¢f Quiqu¢ Dacosta. This unique ev¢nl prov¢d to b¢ our m05t SU¢CCSsful fundraising activity of the year, aside from th¢ Annual Gala. 0¢eroUS7Y supported by Marketaxess, it significantly boosted our income, d¢monslTating th¢ ¢ff¢¢tiv¢n¢55 of div¢rsifying oui event portlolio in raising funds. On the research froni. CIUS continues to support leading institulions such as Ihe ICR. Oxford Universiry. and GOSH. In 2023. we also joined Fight Kids Cancer. a pan-European consortium thai focuses on paediatric oncology research. ENV45728537-2320-EEhA4964CCDB 0710812024 09..00 UTC
CRIS CANCER FOUNDATEO REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Fiindin¥ CRIS Cftneer Foundallt>ll Thc charity has five principal sources of fimding.. Ball Year after year, the Annual Gala leaves our team deeply moved by the overwhelining support from our loyal CRIS community. which includes supporters. prize donors, researchers, doctors, and volunteers. Thanks to the generosity of our prize donoTS. guests bid on arnazing holiday hoines, excliisive trips, wondethl fo(NJ expenences, and incredible spotts memorabilia. This year, in the UK, we raised over £2 million in one nigh¢ supported significantly by corporate swnsors R.J. O'Brien and Tradeweb thrgugh tickei sales, pledges, and auctIons. This event was also celebrated internationally, with parall¢l galas host¢d by CRIS Spain in Madrid and CRIS France sn Paris. Fundroising a¢livilEes (non-corporfjte) Ov¢r 50 Junn¢rs took to the stre¢ts of London for the Royal Parks Half Marathon in aid of the CRIS Cancel Foundation, including voluntccrs, doctors, scientists, cancer sutvivors. and family tnembets of cancel patients. Encourdged 31ong rhe way by our amazing volLmteers, our incredible nmner5 tnanaged to rdise almost £80.000, which Is an increase of 170/D in revenue coinpared to 2022. CRIS relaunched My Super CRIS Challenge tliis year. one of our most popular initiatives. It provides a fun and simple way for our cornmunity to sei a New Year's challenge that also serves as a fundraising activity- Thi5 engaging approach helps u5 raise vital fund5 for CRIS, bringing hope to many patients and families. This year the event raised £45,000, which is an increase of 171Q/o in revenue compared to 2022. The Spanish Ambassador's residence in London h05ted an exquisite Charity Evening of music, fo(rf and fundraising, featuring the gracious soprano Ainhoa Arteta and th¢ ingenious chef Quique Dacosta, with gener0115 5ponsor5hip froin marketess. During the event, CRtS highlighi¢d Prof¢ssor Persis Amrolia. who discussed the pioneering CAR-T cell re5¢arch for Childhood leukemia funded by CRtS. The event successfully raised an impressive £400,(K)O. Ftindrttising ttclivilses (corporLylg) In February 2023, we relaunched our partnership with Ial restaurdnts to mark World Cancer Day. Participating r¢staurants added £1 to th¢ final bill with customer consent. This initiative was part of our CRIS Canc¢r Awar¢n¢ss Month campaign, dnd succ¢ssfully raised £13.0(K). CRIS organised the 'On Ya Bike static bike challenge. in collabordtion with Barclays in iheir London and Paris offJ¢es. This event raised awareness for two CRtS paedialric brain tUOr piojec15 at the Institute or Cancer Research IICRI in London dnd the Gu5tave Rous5y Institute in Paris. Eleven te$ compel¢d in categories such as 'longest distance cover¢d, most funds raised," and "fasiesi rider." This engaging initiative raIsed £47,000 for CRts. During 2023, we raised £242,200 in donations from our lorLg-temi Corporate partners. including AKO Capita], Barclays, General Atlanti¢, D'Angelin, and Goldman Sachs. As part of coq)orate donarions. CRIS r¢ceived a £50,000 donation from ICE Futures Europe. Coinpanies such as Janus Henderson, VISA, and Microsoft malch¢d ¢mploy¢¢ donation5 to CRIS. Single donolion3 In 2023. we raised £49.094 in individual donations that are given 2s regular paym¢nts or on¢-off amount& Gift Aid Th¢ total Gift Aid to b¢ ¢laim¢d from HMRC in 2023 was around £150,000. ENV45728537-2320-EEM4g64-CCDB 0710812024 09.'W AM UTC
CRIS CANCER FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 FUNDING CANCER RESEARCH PROJECTS CRIS Cancer Foundation continues io sponsor cutting-edge research projccts through ils partnershpS with the Instifute of Cancer Rcsearch (ICR), Oxford University, and GOSH in the UK as well &% the European oon50rtium"Fight Kids Cancer" In 2023, CRIS donated £1,713,146 to charitable activiiies. which represents an Ineast of 17V/o Yoy v¢r5us 2022. This included.. Fsght Kids Cancer IFKC).. in 2023 CIUS UK donal¢d £467,130 to the Pan.Euroan consortiuin FKC that focuses IFn raising fvnds for research into different types of paediatric an¢er. Oxford Univeisily, Pos[docra1 Research Fellowships.. Togeth¢r with th¢ US Prostate Cancer Foundaiion. the most prestigious prosiate cancer research foundation in the world, CRIS has cts-financed 2 researche15 through th¢ Young Investigator Awards. The total donation paid by CRtS in 2023 w&% £lOO.000. The lininunoth¢rapy Project at the Institute of Cancer Research IICRI". This piojeci includes a group ¢OOTdiDal¢d by Dr. Astero KlainpatsL with funding of £367,225. Cancer immunotherapy, which involves treatsnents thai hamess the body's own iinmune system lo destroy tumours. represents one of the most promising and rapidly advancing atEas in caDc£r r¢s¢ar¢h and tr¢atin¢nl. Childhood Brain Cancer Project ai the Enstirute of Cancel Reseatch IICRI. Coordinat¢d by Professor Chris Jones and funded with £115.173. this initiative is part of CIUS'S ongoing support for the Children's Brain Tumour Project. CRtS's Involv¢ent began in November 2015 when it eniered into a Deed of Gift with th¢ ICR. Since that date. CRIS UK has invesied a total of £700.(X)O in this ciilical resedrch. Cenire foi Tianslational Imrnunotherapy.. Based al the ICR and led by Prof. Alan Melcher and Prof. Keviu Hartington. CRIS has invested £142,668 thi5 year, (bringing the total amount jllVeSted since 2021 to £424.0001. Moying fon¥rf we have committed lo invest an addilional £755.852 over the nexl three years, to continue to SUPF<)rt the vital research work al thi5 cenlre. Multipl¢ Myeloma project led by Dr Charlotte Pawlyn at the ICR. This two-year agreement amounts lo a yearly payment of £55,950 which began in 2022. CRIS (togeiher with Cancer Research UK) is co-fi]nding a revolutionary clinical trial led by Prof. Sarah Blagden. from the University of Oxford. This trial has been designed for patients who have received an early diagnosis of lung cancer and have received surgery to remove their tuinourls). These patients have & high risk of relapse or dcv¢loping new lung miouts. CRIS invested £250,000 in 2023. Plediatric Leukemia Proje¢1 ai GOSH (New for 2023).. Dr. Persis Amrolia's team will treat 12 patients with dual CAR-T cells. These specialised CAR.T cells have been modified to recolse two different tumour molecules. rather than just one. This dual- targcting approach ensures that if a tumour manages to conceal one type of molecule. the therapy can still be effective against the other. In 2023. CRIS invested £215.(M)O in rhi$ innovative project. ENV45728537-232O-EEAA4ccDB 0710812024 09."00 AM UTC
CRIS CALYCER FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Financial review The results for the period are as set oui on page 10 and show that the charity achieved a very succcssful fvndraising periLKI in 2023. Total income for ihe year ended 31 Deceinber 2023 amount¢d to £3,010,944 (2022.. £1.790,5911 of which £2,036.264 {2022.. £1,573,401) was raised froin ¢v¢nts. After fundrnising costs of £331,230 (2022.. £160,366), the net funds raised froin ¢v¢nts for the period were £1,705,034 (2022.. £1.413,0351. During th¢ perilxi, CRIS inad¢ total donations of £1,713,14612022.. £1,468,154) io the Lnslitute of Cancer R¢s¢arch (ICRI, Oxford, GOSH and Fight Kids Cancer. Overall. the lolal Surplus was £769,125 12022.. £12,139). Ai the financial period end. together with ieserves broiight forward of £2,212,355 12022.. £2,200,216), the total funds. all of which are untestticted, available for cary forward amounted lo £2.981.480 {2022.. £2,212,35SI. Investment poiiey perforThance There are no restriction5 on the charity's poweT to invest and the current policy Rs to invest short tenn deposits with the charity'5 bankers. Reserve5 policy and going concern The charity'5 policy is to maintain a sufficient level of ieserves to enable the operating activities of the charity to continue. With the excepiion of annual governdnce costs. whjch ale estimated at £7,500, the amount of funds required to operdte the charity is not significant at an esliinated amount of £78,000 per annum. The trustees do noi charge the charity for the seryices Ihey provIde and tlie evenls that are held are tnvariably s¢lf-funding evenis. CRtS is accordingly in an enviable p05ltion as the risk of it not being able to operaie as a going concern due to lack of funds is considered to be remote. Structure. governance and management CRIS Cancer Foundaiion ICRtSI was incorporated on 14 January 2011 a5 a charitable Company which is limited by guarantee with no share Capital and governed by its Articles of Association. CRIS was registered as a charity with ihe Charity Commission for England and Wale5 on 2 February 2011. The liability of each member in rhe eveni of winding up is limited to a maxiilluin of £1. In accordance wilh the gtsveming document. there shall be not less than three directors at any one time. The directors. who are also the charity Inlslees, are nOrnllY elected by the Ineinbers of the company In a general tneeting. Truste¢s are appointed on the basis of specific skills and knowledge to enable them to make a eonlribution lo the management of the chariry. In order foi itustees to undertak¢ Sh rcspon5ibilities, appropriate Charity Commission publications, in particular the booklet 'The Essential Trustees.. What you need to know, is given to each trwstee part of their induction prnee. Risk management The iNsiees have reviewed the major and financial risks that impact on the work of the charity and undenake reviews of risk management on a continuing basis. The syst¢ms that have been established enable the irusiees to review and take necessary slep5 to les5¢n th¢s¢ risk& Future development The trustees are working to increase the funds received from corporates. Whilst also looking 10 add n¢w ompanies to the February campaign, we are aiming to explore additional funds coming from eoinpani¢s whether it is via their inalching scheme, by hosiing an employee event in their pr¢inis¢s or by bcing able to receiving funds ftom smaller financial institutions Ihai would lik¢ io d¢di¢ai¢ part of th¢iT profits to ESG. We will also continue 10 consolidaie our Major Donor effort as il is our main source of funds and what is currently financing all our commitments wirh the different research instifutions. ENV45728537-232o-EEAA4CcD8 0710812024 09.'00 AM UTC
CRJS CANCER FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Referen£e and administrative information Directorsryru5tees Marta Brime- Chaimjan icola Louise Ainor050 Maria Dolores Manleiola {aka Lola Manlerolal Fernando Delgado-Nevares Eleonora Geraldine Creaturo Diego Megia Alvaro Portanet Snigdha Singh Josefa Diaz Mercado Chn'siopher Ciauri Ana De Paz Treasurer Ana De Paz Company number 7493363 Re8jStered charity number 1140193 Registered office Quadrant House Elw IYW Floor 6. 4 Thomas More Square. London Place of business Second floor office. 3A Hatnngton road. South Ken5inston, London SW7 3ES Auditors UHY Hack¢r Young, Quadrant House. 4 Thomas Mote Square, London Elw IYW Bankers Virgin Monry, 177 Bothwell Street, Glasgow G2 7ER Solicitors Bates Wells & Braithwaile London LLP 2-6 Cannon Stet. London EC4M 6YH ENV45728537-232cEEAA4wcCDB 07108r2024 09.. AM UTC
CRIS CANCER FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Responsibilities of the Board The Trustees who are also the directors of the Foundation for the piirposes of company law are responsible for preparing the TrLLStees' Report and the firwiciai statements in accordance with applicable law and United Kingdorn Accounting Standards (United Kingdoin Generally ACcepd Accounting Practiccl. Company law r¢quir¢s the Trustees to prepare financial statement5 for each financial year whi¢h give a ttue and fair vicw of the state of affairs of the Foundaiion and the incoming resources and application of rcsourc¢s, including the income and expenditure. of the Foundation for that period. In preparing these finatt¢ial statements, the Tru51ees are required to. select suitable accounting polici¢s and then apply them consisienrly. observe the meth(MJs and principles in ihe Chatiiies SORP; make judgements and estimate5 that are reasonabl¢ and pjudent. stale whether applicable UK Ac¢ounting Standards have been followed. subject to any tnaterial departures disclosed and explained in ihe accounts.. and prepare the financial siaternents on the going concem basis unless it is inappropriate ro presume that the Foundaiion will continue in business. The Trnsiees are r¢5POll5ible for keeping proper accounting records ihai disclose with reasonable accurdey ai any time rhe financial p05ilion of the Foundation and enable the Trnsiees io ensttie thai the financial stateinen15 coinply with the Companies Act 2006. The Twstees are also responsible for safeguarding the assets of the Foundation 4d hence for taking reasonable steps for ihe prevention and deieeiion of fraud and other irregularities. This report ha5 b¢¢n prepared in accordance with the special provisions relaiing lo small companie$ within Part 15 of th¢ Componies Act 2006. By OTdeT of the Bo4Td: Marta Brime- Trustee Chairman of Board of Trustees Date.. 30 July 2024 ENV45728537-2320-EEAA4964-CCDB 0710812024 09..00 UTC
UHY Hacker Young LLP C)tsadrani House 4 Thomas More Square London EIW Hackeryoung Chaitefed Accountants INDEPENDENT AUDITOILS, REPORT TO THE MEMBERS AND TRUSTEES OF CRIS CANCER FOUNDATION FOR THE YEAR ENDED 31 DECEMBER 2023 Opinlon We have audited the fmaTLciai statements of CRIS Canc¢r Foundation (the 'Charity') for the year ended 31 DecembeT 2023 which comprise the Ststement of Financial Activities. the Balance Sheet, the Cash Flow Stateent and the nores io Ihe flDan¢ial statements, including significant accounting w)licies. The financial ieporting framework Ihai has been applied in their preparaiion is applicable law and United Kittgdom Accounting Standards. in¢luding Fin0claI Reporting Standard 102 'The Financial Reporting Sthndard applicable in the UK and Republic of Ireland (United Kingdom Generally A¢¢¢pted Accounting Practice),. In our opinion the financial statements.. give a true and fair view of th¢ stale of the Charity's affairs a5 at 31 December 2023 and of ils in¢oming resources and application of resouT¢es, for the yeaT then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. atjd have been prepared in accordance with ihe rffjuiremenis of the Companies Act 2006. Basis for opinion We condllcied OUT audit in accordance with International Standards on Auditjng (UK} IISA5 IUKI) and applicable law. Our responsibilitie5 under Ih05e standards are further descnbed in th¢ Auditorfs responsibilities for the audit of the financial sralements Section of our report. We are independent of the Charity in accordance with the ethical requirements Ihal are relevant to our audii of the financial statements in the UK. including rhe FRC'S Ethtcal Standard. and we have fulfilled our other ethical r¢sponsibiliiies in accordance with tlwe requiremen15. We believe that the audii evidence we have obtained is sufficieni and appropriate to provide a basis for our opinion. Conclusions relating to going eoneern Itl auditing the fancIal stst¢ments, we have ncluded that the trustee5' U5¢ of the going concern basis of accouniing in Ihe prepardtiort of the financial statemcllls is appropriate. Based on the woik we have perfornied. we have not ideniifjed any Jnaterial uncertainties Telatillg lo event5 or conditiot)s tha( individually or collectively. may c&8t significant th)ubt on the Chatity's ability to continue as a going ¢oncem foi a peiiod of at least 12 Oth5 fr0]n when the financial siatements are authorised for issue. OUT respon5ibililies and the responsibilities of the trustees with Tespect to going concern are descriF*d in ihe relevani 5ecrions of this report. Other information The other infonna¢ion ¢onwris¢s the inforniation iticluded in the Truslees, Report. Our opinion ON the fllrdncial statements does not cover the other informaiion and, except io th¢ extent otherwise explicitly stated in our repo we do not express ally fomi of assurance conclusiotj thereon. In connection with our audit of the financial statements, our responsibility is to read the other iofomiation and. in doing so. consider whether ihe orher informaiion is mateiially inconsistent wilh the financial siatements OT our knowledge obtained in the audii or oihetwise appears to be mateiially ]ni5Stated. If we ideniify su¢h material inconsisiencics or apparent material misstatemenls, we are Tequired to determine whether there is a maieTial misstatemeni in the financial statetnents tsr a material mis51al¢menr of the other information. If, bastd on the WOTk we have perfoT]ned, we conclude that there is a marerial misstatement of this other information, we are required to report ihat fact. We have noihing io report in this regard. ENV45728537-2320-EEAA4WCCDB 0710812024 09".00 AM UTC
UHY Hacker Youtvj LLP Quèdrani House 4 Thoina5 Mofe Squaie LondonEIW Hackeryoung Chartered AccourTrtant5 11SDEPENDEP4T AUDITORS, REPORT TO THE MI EMBERS AND TRUSTEES OF CRIS CANCER FOUNDAT10Tr4 FOR THE YEAR ENDED 31 DECEMBER 2023 Opinion$ ort other mitters prescribed by the Comp9nies Att 2006 In our opinion, based on Ihe work undertaken in the course of Oilr audii.. the information tsiven in the tstees, rewn for the fituncial year for which the financial statements are prepared is consisient with the financial statements: and the trustees, report have been prepared in accordance wirh applicabl¢ legal Tequirem¢nts. Matter$ ON whlth we are requlrej to report by ex¢eptlon In the Iighi of the knowledge and understanding of the Charity and its environment obLqined in the course of our audit. we have not idetttified material misstsiements in the TNstees' Rep)rt {whi¢b Inrporat¢S the directors. report}. We have noihing to report in respect of the following mallers in relation to which the Companies Act 2006 requires us 10 report 10 you if, in our opinion.. adequate and ptopei a¢¢ouniing iecords have not been kept, or reiums adequate for out audit have not beerl received frotn branches rK>t V151t¢d by us. OT the financial siaiements are not in agreement with the accounting records and returns,. or certain disclosures of truste. remuneration specifled by law are not made. or we have not receiv all the itLfoTtnatitsn and eXpla[tIonS we iequite foi OUT audit. or the tTUStees were not entitled to prepare the financial statements in accordance with the small cotnpanies regime and take advaTLta8c of the Small companie5, ex¢mption5 in preparing the strdtegic report. Re$pon$ibilitie$ of trustees As explained more ]lY in th¢ twste¢s' r¢sponsibilities st&t¢ment s¢t out on pag¢ 6, Ihe ttusiees. who are also the dire¢¢ois of the charitable company foi ihe purpose of Company law, are responsible for the preparation of the rinancial 5tttemen15 whi¢h give a true and fair view, and for such inietnal Control ds the twstees detem)Ine Is necessary lo enable the preparation of financial stat¢entS that are free from material rnis5tatement. whether due to fraud or error. preparing the fiDaT2ciai statements, the trustees are resptsnsible for &8se5sing the Charity's ability to continue as a going concern, di5c105ing a5 appli¢able, tttatter5 related to going concetn und using the going concetn basis of accounting unless (he iruslees either intend to liquidate the Charity or to cease operations, or h&ve no realistic aliernalive but 10 do so. Audltor's responslbllltlts for the 4udlt of the fingnclgl statements Our objectives ate to obtain reasonable assurance about whether the financial statements as a whole are free from material mi5btatcment, whether due to fraud or error, and 10 issue an alldiior's report thai Includes our opirtiort. Reasonable assurance 15 a high level of assurance, but is t a guanntee that an audit Conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Mis5talements can arise from fraud or error and are considered maierial if, individually or in the aggregate, they could reasonably Ee expected to influence the economic decisioThs of users taken on Ihe basis of Ihese fJnan¢ial sthiements. Irregularities, including frnud, ar¢ irtstan¢¢s of non-compliartce with laws atyl re8ulations. W¢ design proc¢dures in line with our responsibilities, outlined above. to detect maieiial misstaiements in respect of iegUlar1tie$, including frnL. The extent to which our procedures are upable of detecting itregulatities. including fraud, is detailed below. Based on our understanding of the Charity and the industry in which it operate5. we identified that the principal nsks of non-eomplIan¢e with laws and regulations relaied 10 the acts by the Chariiy, which were conirary to applicable laws and regulations including fraud. and we coosidered the extent to which non-¢ompliance might have a material effect on the financial statements. We also considered those laws and regulations thai have a direct impact on the preparntion of the financial statements buch as the Companies A¢1 2006. We evaluaied management's iDcentive5 and opportUTLities for fraudulent ttwiipulation of the fjnancial 5talem¢nt5 lillcluding ihe risk ofoverride of contro151, and detennined that the principal risks were related to inflated income. ENV4S728S37-232(>EEAA4WCCDB 07/08r224 09'.00 AM UTC
UHY Hacker Young LLP Quadrant House 4 Thomas More Squère London EIW IWN Hackeryoung Chartered Accountants INDEPENDETrrr ALTDITORS, REPORT TO THE MEMBERS AYD TRUSTEES OF CRIS CANCER FOUNDATION FOR THE YEAR EYDED 31 DECEMBER 2023 Audit procedures perfornied included.. review of the flnancial ststemeni disclosures to underlying SUPPOfling documeniaiion, enqiiiries of manageinent and iesiing of journals 2nd ev21uaiing whether there wa5 evidence of bias by the Tnjstees that represented a nsk of matuial misstatement due lo fraud. There are inherent limitations in the audit proceduTes described above and the further removed non-compliance with law5 and regulation5 js from the even15 and transaciions reflected in the fjnancial siaiemenis. the less likely we would become aware of it. Also, the risk of not detecting a material misstatemeni due to fraud is higher Ihan the risk of not detecting one resulting from error. as fraud may involve deliberate concealment by, foi example, forgery OT Intentional misr¢pt¢seniaiions, or through ¢ollu¥ion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reportitig Council's website ai.. www.frc.0rg.uklaudiiorsresnSlbI1itles. This d¢scription forn]s part of our auditor's iepoti. Us¢ of our report This report is made solely to the Charity's membeTS. as a body, in a¢¢ordance with Chaprer 3 of Part 16 of the Companies Aci 2006. Our audit work has been undertaken so that w¢ tni¥ht State to the Charity's ]nembers those maiteis we are required to state 10 them in an audit015' report and for no other pu0. To the fullesr exienl permitted by law, we do not accept or assume responsibility lo anyone oiher than the Charity atld its member5 a5 a body. foi OUT audit work. foi this repoTL or for the opinion5 we have foTmed. Rachel Chlm {Senlor Statutory Audltorl UHY H#¢kerYoung Statutory Audiior Quadrant House 4 Thoma5 More Square London Elw IYW Dat¢.. 07108/2024 ENV45728537-2320-EEAA4964-CCDB 0710812024 09'.fKJ AM UTC
CRtS CANCER FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Reslricted funds funds 2023 2023 Total Unrestritled Rcstrl¢ted fu]Jd$ funds 2022 Total funds 2022 2023 2022 Notes Incoming resources Income from.. Donations #nd Icgacies -Oih¢r trading activities -Inv¢stm¢nts 955,291 2.0362(A 19,389 955,291 2.036,264 19,389 210,978 1.573,401 6,212 210.978 1,573.401 6,212 Total incorning resources 3,010,944 3.010,944 1,790,591 1,790.591 Expertdlture on= Raising funds.. Fundraising events 439,432 439.432 239,826 239.826 Charltable activili¢s'. Donariorts made 1.802.381 1,802,387 1,538,626 1,538.626 Total 2,241,819 2,241,819 1.778.452 1.778.452 Net Movement in funds 769,125 769.125 12.139 12.139 Reconclllatlon of fund$ Total funds brought forwaTd 2.212,355 2,212,355 2,200,216 2,200.216 Total fund5 eY4rrled forw8rd 2.981.480 2.981,480 2.212.355 2,212,355 The results for the period are derived froin continuing op¢rdtion5. There were no 08n[s¢d gains or losses, other than those passing through the statement of financial activiti¢s. 10 ENV45728537-2321>EEAA4&34-CCOB 0710812024 09.'(KI AM UTC
CRIS CANCER FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2023 31 December 2023 31 December 2022 Note5 Fixed assets Tangible assets Inve51ments 3.437 199,998 8,595 203,435 8,595 Current asset$ Debtor5 Cash at bank 546,255 2,260,864 453.416 1,824.818 2.807,119 2.278,234 Creditors: Amounts falling due within one year {29,074} {74.4741 Net current assets 2.778,045 2,203,760 Total assets less current liabilities 2.981,480 2,212,355 Nel assets 2,981,480 2,212,355 Funds of the charity.. Unre5tricled fund5 Restricted funds 2,981,480 2,212,355 2,981,480 2,212,355 Approved by the Board and auihorised for issue on 30 July 2024 Marta Brime- Direetor Company Number: 7493363 ENV45728537-2321>EEAA4964-CCDB 0710812024 09.'00 AM UTC
CRIS CANCER FOUNDATION CASH FLOW STATEMENT AS AT 31 DECEMBER 2023 31 De¢ 2023 31 Dec 2022 Notes Operating & iDV¢$ting #ctivities Receipts of int¢r¢ Receipts of other cash Payment of chariiable grants Payment of expenses Depreciation charge of tangibl¢ assets Purchage of investments 19,389 2,893,218 (1,713,146) (568,575) 5.158 {199,998) 6,212 1,639,202 {1,468,150) {311,251} 5,157 Increase/{Decreasel in cash from operating & investing activities {A) 436,046 (128,830) Increase/{Decrease} in cash (B) 436,046 {128,830) (A) Reeonciliation of change5 in resources to net cash inflow from operating & investing activities 2023 2022 Depreciation of tangibl¢ fixed assets Purchase of investments Net incoming resources Increase in debtors Increasel {Decrease) in creditors 5,158 (199,998) 769,125 (92,839) (45,400) 5,157 12,139 (152.674) 6.548 436,046 {128,830) (B) Analysis of ehanges in ea5h b3lan¢e5 during the year 2023 1022 Cash ai beginning of penod Cash at end of period 1,824,818 2,260.864 1,953,648 1,824,818 Increas&l {Decrease) in cash 436.046 (128,830) 12
CRIS CANCER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlll8 policie5 Company information Cris Canc¢r Foundation is a private coinpany limited by guarantee incorporated in England and Walcs. Th¢ registered office is Quadrant House, Floor 6, 4 Thomas More Square, London, Elw iyw. Aeeounting eonventio These financial sraiemenis have been plepared in accordanc¢ with Accounting and Reporting by Chariiies.. Siatemeni of Recommended Practice applicable to charities preparing their accounts in accordance with th¢ Financial R¢porting Stsndard applicable in the UK and Republic of Ireland IChaTiti¢5 SORP - FRS 102), The Financial Reporting Siattdard applicable in the UK and Republi¢ of ITel8nd" (FRS 102) and the Charities Act 2011 and the requirements of the Cotnpanie5 Act 2006 as applicable to companies subject to the small companies regime. The financial siatemenis ale prepared Ln sterling, which is the functional currency of the company. Monetary amounis in these finaucial statements ar¢ Tound¢d to the nearest £. CRIS Cancer Foundaiion meets tlie defjnition of a public ¢ntity undcr FRS 102. The financial staiemenis have been prepared on the historical cost ¢onv¢ntion and th¢ principal accounting policies adopted are set our below. FThdS Strueture Restricted funds are fi]nds which to be used in accordance with specific restriciions imposed by the donor. Unrestricted funds are fvnds which are used in accordance with the charitable objects ar the discretion of the trustees. Incorning resources Incoming resources are accrued and included in th¢ SOFA when the charity is etttiiled to the income, the receipt can be quantified and is probable and deferred when they relate to future accounting periods. Gift Aid receivable is includ¢d in income when ihere is a valid declaration from the donor and the donatsons has b¢cn rcceiv¢d. The following policies apply to the following specific categories of inc0e frotn fi]ndraising ev¢nts.' Incomefrom Annual Gala Dinner Ticket. auciion and spon50r5hip income ftom the Annual Gala Dinner is disclosed under other trading activities and recognised when r¢¢eivable. Incon7efrompersorRal challertge and oÉherfiindraisirig evertls Marathon, bike challenge and other fundraising income. which are In substance donat%ons, are disclosed as donations when receivable. Investment income Investtncni income represented by interest on monies held on dep051t is includ¢d in SOFA when receivable by the charity. 13 ENV45728537-2320-EEAA4964-CCD8 0710812024 09..00 UTC
CRIS CANCER FOUIYDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Aeeounting polieies (continued) Resources expended and irrecoverable VAT Liabilities ore recognised as resources expended as soon as there is a legal or constNciive obligation coininilting the charity to the expenditure. All expenditure is accounted for on an accruals basis and hos been classified under headings that aggregate all costs related io the ca*gory. Irrecoverable VAT is charged agaittst the category of resources expended for whi¢h it was in¢urr¢d. Going cfrneern The accolts have been prepared under the going concern basi5 a5 th¢ trustccs are of the opinion that the charity's forthcoming events. including the annual Chdrity Gala Dinncr, plus sotne reserve funds will cover minimal operational cosis and enable the eharity lo mcet its obj¢ctiv¢s of funding eancer SearCh. T4ngRble fixed assets Tangible fixed assets are staled at cost {or deemed cosi) 01 valuaiion less accumulated depreciation and accumulated impaim)ent losses. Cost ineludes costs diteeily attribub]e to inaking the asset capable of operating as intended. Depreciation is provided on all iangible fixed assets. ai rates calculated to write off the c05t, less estiinated residual value, of each asset on a sysietnatic ba515 over it5 expected useful life as follows.. Fixtures and fittings 200/0 on cost Investments Progrnmme-related Investments are made to llher to charitable pose$ of the ¢harity. Th¢y a held at cost less any provision for impairnient. Financial instruments The company has elected to apply the provisions of Section I I 'Basic Fitwicial Instruments, as Section 12 '0ther Financial Instruments Issues, of FRS 102 to ail of its financial instruments. Financial insttuments are Tecognised in the cornpany's Statement of financial position wh¢n th¢ Cotnpany becomes party to the contractual provision5 of thc instnlment. Financial ass¢ts and liabilili¢s are offset, with the nei amounts presented in the financial statements. when there is a legally enforceable right to set off the recognised amounis and there is an intention to setile on a net basis or to realise the asset and settle the liability simulianeously. Basic financial asset5 Basic financial asscts, which include debtors and cash and bank balances. a initially measured at transaction price including transaction costs and are subsequenily Caled at nOrtised cost using the effeciive Inierest method unless ihe arrangement constitutes a financin¥ transaction, where the transaction is measured at the present value of the future receipts discounted at a mark¢t rate of interest. Financial assets classifjed ds receivable within one year are not amortised. 14 ENV45728537-2320-EEAA4964-CCDB 0710812024 09..00 AM UTC
CRtS CANCER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Aeeounting policies (continued) Impairment of fjnancial assets Financial ass¢ls. oth¢r than thos¢ h¢ld at fair value through profit and loss. are assessed for indicaiors of impaimicnt at cach rcporting ¢nd datc. Financial assets are impaired where ihere is objective evidence that, as a result of one or inore event5 that occurred after the initial reColtI0 of tlie financial asset, the estiinated future cash flows have been affecred. If an asser is impaired. the impairment 1055 IS the difference between the carying amount and the present value of the estimated cash flow5 discounted at the as5et'5 original effective interest rate. The impairment loss is recognised in profjl or loss. If there is a decrease in the iinpairment10ss arising froin an ev¢nt o¢curying after the impaimient was recognised, the impairnienl is r¢v¢rs¢d. Th¢ reversal is such ihat the current carrying amouni does not exceed what the carying amount would have been. had the impairnient not previously been reco]sed. The impaim)ent reversal is recognised in profit or loss. Derecognition of financial wssets Financial assets are deTecognised only when ihe contractual lights to the cash flows from th¢ asset expire or are settled. or when the coinpdny transfers Ihe financial asset and substantially all the risks and rewaids of ownership 10 another entily. oi" sf soine signifjcant risks and rewards of owneTship are retained bui control of the asset has transfened to another party that is able to s¢ll the asset in its eniirety to an unrelated ihird party. Classlt]eatlon orrJn#ncial liabilities Financial liabilitle5 and equity inslrutnenls are classified accgrding to the substance of the contractual 8ngeMentS entered into. An equity instrurnent is any contract that evidences a residual interest in the assets of the company after deducting all of its liabiliti¢s. Basic financial liabilitie5 Ba51c financial liabilities. including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debi, are initially recognised at transaciion price unless the arrangeinenl constitutes a financing Iransaclton, where the debt instrument is measured ar the preseni value of the future receipts discounted at a Inarkel rale of interest. Financial liabilities classified as payable within one year are not amortised. Debt insttuments are subsequently carried at amortised cost. using the effectiv¢ ini¢f¢st rnte method. Trade creditors are obligations io pay for goods or services that hav¢ been a¢quired in the ordinary tourse of business from supplier5. Amoun15 payabl¢ ar¢ classified as CULTent liabilities if paymeni is due wiihin one year or les5. If not, they are presenl¢d as non-CUTrent liabilities. Trade creditors are recognised initially at transaction price and 5ubs¢qu¢ntly m¢asur¢d at amortised cost using the effeetive int¢r¢st Ill¢ih. Derecognition of financial liabilities FinaD¢ia] liabilities are derecognised when the compamy's contractua] obligations expire or 8Jt discharged or cancelled. Operating leases Rentals payable under operaring leases, including any l¢as¢ in¢¢ntiv¢$ received. are charged to income on A strttighi lin¢ basis ov¢r th¢ temi of th¢ r¢l¢vant lease. 15 ENV45728537-2320-EEAA4WCCDB 0710812024 09.. AM UTC
CRIS CANCER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECE.MBER 2023 Employees There was on average 3 employees in the peri(Kl12022.. 2). Anslysis of staff costs 2023 2022 Salaries and Wages Social Secunty Costs Pensions 110,480 6,729 2.538 69,962 2,829 1.645 119,747 74,436 Higher paid st•ff Th¢ numb¢r of employees whose employee benefits (excluding employer pension costs) exceeded £60.000 was 112022 01. No key management petsonnel are remunerated during the year12022.. 01. Income and endowments 2023 Total 2022 Total Unrestricted Restricted 3.1 DonatioThs and legAcie5 Direct gifts from individuals and organisations Events and other income 291.276 664,015 291,276 664,015 152.646 58,332 955,291 955.291 210,978 3.2 Other trading activitie5 Annual Gala Dinner 2,036,264 2,036264 1,573,401 2,036,264 2,036.264 1.573,401 3.3 Investments Bank interest 19,389 19,389 6,212 16 ENV45728537-232(>EEAA4WCCD8 0710812024 09".00 AM UTC
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CRIS CAYCER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBLR 2023 Tanglble flxed &$sets Fixtures Total Fittings Cost or v*luatlon: At I january 2023 Additions 25,788 25,788 At 31 December 2023 25.788 25,788 Depreciation.. At l January 2023 Charg¢ for the year At 31 Deceinber 2023 17,193 5,158 22.351 17,193 5.158 22.351 Net book value.. At 31 December 2023 At 31 December 2022 8,595 8.595 Programme-related inyestrnents (bond): 31 Dec 2023 31 Dec 2022 Inv¢stm¢nts 199,998 During th¢ ycar, thc charity subscribed ro 48.780 seed shares of Infinitopes Limited. a company registered in England and Walcs. Thc charity made ils investtnent in Infinitopes Limited in order to fither the Charity's objectives of preventing & diagnosing and of deyeloping new and better treatments for pcoplc with cancer. The charity will derive ihe benefit of this resCah from InfJnitop¢s over the life of thc investmeni. At the balance sheet date, the e0Verable amount is de£med to bc in ¢xcess of the original cost of the investsnent and as such, no triggers for impainnent have b¢¢n identified. Debtors: amounts falling due with one y¢4r: 31 Dec 2023 31 Dec 2022 Trade debtors Prepayments Othcr dcbtors 534,355 7,400 4.500 354.725 12,898 85.793 546.255 453.416 19 ENV45728537-232¢>EEAA4964-CCDB 0710812024 09."00 AM Lrrc
CIUS CANCER FOUNDATION NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 DECEMBER 2023 Other creditors: amounts falling due within one year 31 Dec 2023 31 Dec 2022 Other creditors and aCenlS 29.074 74,474 Financial instruments 31 Dec 2023 31 Dec 2022 Carying amount of financial assets: Investments Debtors Prepa)rynents Other debtors 199,998 534,355 7,400 4.5(M) 354,725 12,898 85,793 746,253 453,416 Canying amount of financial liabilities.. Other creth'tors 129,074) {74,474) 717,179 378,942 10 Operating lease eomrnitments At the reporting end date, the ¢harity had outstanding commitments for fijture minimum lease payments under non-cancellable operating l¢as¢s. which fall due as follows.. 31 Dec 2023 31 Dee 2022 Within l year 2-5years 10,800 21,600 10,800 EO,800 32,400 11 Analysls of charltable fund$ Bxlance at l Jan 2023 Incoming re$ources Resources Balanee at expended 31 Dec 2023 Unrestr2Cted fvnds.. General Funds 2,212,355 3,010,944 (2,241,819) 2,981,480 2,212,355 3,010,944 {2,241,819) 2,981,480 R¢stri¢t¢d funds Total 2,212,355 3,010,944 12,241,819) 2.981,480 20
CIUS CANCER FOUNDATION NOTES TO THE FINANCIAL STATEMEYrs FOR THE YEAR ENDED 31 DECEMBER 2023 IZ An8lysls of net assets between fund$ Unrestricted fllnd$ Restri¢tsd funds Total 31 Dec 2023 Total 31 De£ 2022 Fixed assets Investments Debtors Bank Creditors 3,437 199,998 546,255 2,260,864 129,074) 3,437 199,998 546,255 2.260,864 (29,074) 8,595 453,416 1,824.818 (74,474) 2,981,480 2,981,480 2,212,355 13 Tru$tees' emoluments No trust¢¢ or any p¢rson ¢onn¢¢t¢d with a truste¢ has received or is due to rtteive any remuneration or expenses for the period directly or indirectly from the charity's funds. 14 Related party tr*n$aetlon$ CRIS made donallons of £Nil12022.. £79,447) io Fundacion CRIS de Investigacion para Vencer el Cancer, a chariiable organisation registered in Spain and related to CRIS by virtue of common trnstees, Lola Manterola and Diego Megia. CIUS also made a donation of £Nil (2022.. £5,000) to CRtS Cancer France. a charitable organisation which is related to CRIS by virtu¢ of Common trustees, Lola Manterola and Diego Megia. During the period, the trustees made donations to CRIS totalling £353,85012022.. £229,100). 15 Taxation As a charity, the Foundation is exempt from UK corporation tax io the extent that its in¢ome is appli¢d to its charitable objects. No liability arose in the year. 16 Capital cornmitmenty At the year end, the charity is Committed to make donation of £558,328 (2022.. £785,523) to ICR and other Cancer projects through deeds of gifis. 21