Charity registration number 1143743 Compny rngistration number 07767248 (England and Wales) THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 111 111 AD69G72Y 291rw2024 cCPANIEs HOUSE A14
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THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER LEGALAND ADMINISTRATIVE INFORMATION Trusts•$ Mr Percy Beckley Mr Jonathan S M Craft Mr Mauri¢e H Craft Mrs Rachel L Craft Mrs Mi¢haela M Rees Jones Mr Laurence J F Tarfo Amba$$adors Ms Tiffany Chawner Ms Na Floyd Mi Julian O'Dell Mrs Cheryl Kthitehead Patrons L(dAIlance C8E Harry & Carolyn Blad( Barry Boas Rcoer Cadbury Fam Harold & Daphne Cooper Charitable Tru$l Peter & Marityn C(x)per John ErT Alessandfo Ousi Isabel Ettedgui The Falkm FaNMty Chades & Diane Herlinger Michael & Lottie Hunter Bèvs Malim Martin O'connor Sir PaLJI & Lady Ruddo( Chris Sharp Michaela M Rees Jones S•¢rètsry Mrs Joyce Fletcher (JPI Charity numb•r 1143743 Company number 07767248 Princi1 oddress 2 Regency Chambe JU"1ee Way Bury Lancashi BL9 (XJW R•gist•r•d office 2 Regency Chambèrs JubilÈe Way Bury Lanix$hi BL9 OJW
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER LEGAL AND ADMINISTRATIVE INFORMATION Accountsnts JS. Actountants & BusinessA(l¥isors Limrted Jame5 House Stonecross Bus1rS Park Yew Tree Way Waffln9ton Cheshire WA3 JJD Bankern VITgin Money 17-21 Oxford Street Bohon Lancashife 8L1 1RD
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER CONTENTS Pag• Chairman's statement Trustees, report Independenl examine¢s report Statemt of finanual ath"7rfies 9-10 Balan sheet 11 ststement of cash llows 12 Ncrt8S to the finanoal statemenls 13-19
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2023 Th8 Trustees are very pthsed thal the charity conb.nues to make a posrtive L¥Niiribution in the fiekj of research improving cancer diagnoslics and treatments. As in prevKJUS years. Act Against Cancer funded groUndtkin9 research at Imperial Col. LorKlon and at hyo laboratories at the UnNersity of Sussex. In addition. this year we part funded the eStalshMent of a new research facility al Anglia Ruskin Univerw, CambrKlge fARU?. Excellenl progress has been made at this new laboratory. with the recruilment of iwo Postdoctoral Researth Fellows have begun promising projects. There are rnore details in this report. tJring this year a number of signfficant papers were published wrth results from research ftmded by Action Against Cancer. As staled in the aK>Wdgrnents of one of ihese papers by the scientist leading the work, Ihe team Yhank the lat6 Htilary Craft OBE. th8 sary founder of AGlion Ag8inSi Cancer. whose unwaveiing supwrt made this research possible.- Fundraising has not as yel re0)ved Sir the Covid pandemrc. Howe¥er, committed supporters ofAct(on Against Cancer made generous donations and organised wonderful events. I woukj like to personalty thank them and all of the Patrons, Ambassadors, irLdNhluals. companies, Charitab twsls and foundatk)ns who ry)ntinue to support Action Against Cancer. Working togelher we can make a tangible dTfferent* for cancer patients. Mr Maurice H Crafl Chainnan Date.. 28 June 2024
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2023 The Trustees present Ihey report and finawal stslements lor Ihe yeai ended 30 September 2023. The financial ststements have been prepared in acrd8 wrth the accounb.ng poliryes sel out in note 1 to the rinancial statements and cornpty with the ¢harity's goveming dwjment. the Gompanies A¢A 2006 and "Accounb'ng and Reporting by Chafilies." Statemenl of Recommended Pradicè applicable to charrties preparing their accounts in a(¥x)rdance with the Financial Reporb"ng Stsndard appli¢abk in the UK and Republi¢ of Irelan¢J {FRS 1021 (effetxive 1 January 20191"_ Objectives and •¢tivities The objedives of the charity have remainèd unchanged. These are lo promole and protecl the health of the public. in particular by research into the p[evenIn. treatsnenl and cwe lor all forrns of Canr. Thi5 includes research inlo pr8Ctical applications for the Pfe¥ention. treatment and cure of cancer and lo disseminale the useful results of such Tesearth to Ihe publbc. The Charbty Commission's general guKaancè on public benefrt has been ieferred lo when rewewing our aims and objecti$ and in planning our firture aclwits"ès. SeiÈntifi¢ Advisory Board Action Against Cancer is privileged Ihal the fc41owry scientists aThJ dir#anS have agreed to serve on our Scienlifi¢Advisory Board". Professor Heinz-Josef Lenz - Dewty D¥eclor for Research ProJram and Head of Ihe Gasirointestinal Cancer Program, USC Norris Comprehenswe Canw Cenlre DrAbby Siegel- Assistant Profesr. Oepanmerf of MedrAne. Colwnbia UnNersty Medical Cenlre. New York Df Siddhartha Mukheriee- A$S31e Professor of Medicane. CduThbi8 Unive(sity MedKal Cent. New York Profèssor Piamod K. Srivastava- Directot. Carde and Ray Neag Comprehensive can Centre. Connectiojt Rèsèarth Them•s All work funded by Acttijn Against Canw fa115 der the follwrvJ research theme5'. Cancer Stern fAIs Genetic Swtches Developing a drug for a tolaty rwi approach to theiapy ILMTK3) Understanding the ccer Brain Metastasis Can¢er Stem Cèlla Cancel Stem Cells ICSCsl On conskn.tute up to S% of a cancerous tum(yJr, but they generate the fast multiplying Ils that make up the majorty ol the resl. CSCS are also linked to some of the most malignant fealures of carttr, induding treatment resistance and the ability to spread to other parts of the boty. It can be many months or even years afler suc£essful trealmenl of a primary tumur. before secondary cancer SPTeads. This has been desrJitd a5 if the dandelion has been reTTrd frcrfn Ihe lawn. bul the CSC root is left beky the surface to regrow at a later date. Acts"on Again$1 Cancer is ftJn¢JiNJ a number of wojeds examinThJ CSCS. lo enable Ihe develowenl of treab))ents that spCallY target them to more lully cut canrArs out by the roots. The saenb.sts ale working to gain thorou9h understanding Of how CSCS operate and to answer wtal quest such as. Why do certain patntS not respond to trealments? at conditions alhjw sow tumours io spread wound the toty? could fijture trealrnents speofKalty target the nK)St malKJnant (41$?
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 EXAMPLE OF PROGRE A research tearn funded by A¢tion Against Cancer ai ImFerial College. London has further developed a powerftjl genetic system they designed allowing them to manipulate genes in cancer cells. The next slage in the research has also now been achEved. with the developmenl and integraty.on of specialisl procedures and equipment. Using a time-lapse rnicroscDpy technKJue. detailed 3D images ol cancer cell cumures were captured al regular intervals over a SFeuffic lime penod. This allowed for detailed segmentation and da55thcation of cancer gene nuclei. In combination with other advanced analyss tethniques developed by the learn led by Dr Nina Moderau. they have gained a deeper underslandiThJ of the genelic diversty and cell mpetitIon observed in certain Canrs. The aim is for this krtrowledge to inform the development of more effective therap$ and improve the ability lo predict and manage cancer trealrnent outcomes. S". Genelic d" of Is rese Genetk Swttches Since the mapping of DNA with the Human Genome Projeci, there is greater understanding wthin the scientsfi¢ community of some asFds of cancer. In thè past. the vast majority of DNA was bdieved to be 'jtJnk' as il does nol code fof protein. It was thought On a small amount of DNA was $igntfi¢ant, that whit tums into single Stranded RNA. and thon inta protwns respMsitle for the struclures and fvn¢bons we a flIK1r with {b[vn hair. bluè ÈYÈS Ètc}. However. il is now known that much of DNA is fA tranwbed into norvcoding RNAS. sorne ol whith play important role5 in noal biological tunction. gene regulab.on and cancer development. Actton Against Cancer is funding a range of projects relaied to identfyry rnJn<oding RNAS thal we operab.ng as genet switches caLsing cancer to grow or shrink. EXAMPLE OF PROGRESS.. Pre and breast cancer discove A groundbreaking study funded by Action Against Cancef examined how hawng children affects a woman's rtsk of breast cancer. and the findings were published in a papèr in the prestigious joum31 Nature. In resear¢h led by Di Bianca$tella Cerese¢$ team at Imperial Colege, London. the team diso)vered that iyegnancy can actualty (*)angè the gÈneth"c makeup ¢rf brèast th"ssuè. Just likè wrirbkles appear on the skin with age. changes can also happen in Ihe DNA of breast 71$ over lime. The study showed Ihat piegnancy add5 an extra Iw15t lo these ¢han9es. In oldei women who becorne mothers loi Ihe first tirne. the number of these changed cells gets bigger cornpared to younger rnolher5 or older women Wbthout children. This mighl mean that older firsl-time motheis could have a higher ehance of ha¥irbg harmful thanges in their breast cells cornpared to other women. This new knowledge can empower women to make informed choices aboLrt their reproductNe health and to tak8 steps to prevent and detect breast cancer earfy.
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 De¥•loping a drug for a totslty n•w approach to therapy {LMTK31 The idèntification of a new cancer causing gene in 2011 by Professor Georgios Giamas was the earfiesl Slgnific2nt breakihrough SUPFX)rted by ActTon Againsl Cancer. This gène Cald LMTK3 is nèw to humans. and is expressed more in cancer c811$ than in normal cells. Those Can¢5 that have hKJh levels of LMTK3 are also much more aggressive. Since 2011 we have fvnded Professor &amas' research awming to develop an anti-LMTK3 drLg. This woukj be to overcome the resistance to Ireatments that often develops within patients. bodies. Many palients respond well to inilial treatment bLrt then develop resistance to it - this is when, with cjjrrently available Ireatsnenls, their cancer becnmes rnore difficum to treat. A potenlial ants-LMTK3 drug will be specifically designed lo wort in conjunctDn wilh a patienfs existing trealment. and in a way that overcomes chemotherapy or hormonal therapy resistan, alkyrting these Ifeatments to start wcking again. Thi5 would be momentous step in the history ol Carer treatmenl. EXAMPLE OF PROGRESS.. Dfu discJ)ve deve The leam working on this pioneering project have used slnJctUTal biology experiments to generate new findings that demonstrate the binding effe ol certain compounds to LMTK3. This is an important step as il means the compounds can ncA¥ be chemically attefed in order to make them bd more effectivdy lo LMTK3. The conlribution of LMTK3 in the behawour of immune cells in rtain cancer types is also being investigated. The researcher5 have explored the mechanism iMlC01ed in this prsS by performing a variety of drfferent experirnents to delefftiine what changes occ3Jr inside immune cells, when LMTK3 is overexpressed. that makes them les5 able to attack the cancer cets. Und•rstanding the Cancer Brdln 11 is thought Ihat cancer cells have a 'brain'. which ts responsible for tuming tt)è cells'on. or'olT. We are funding sear¢h lo gain a comprehensive understsnding ofthis canr brain. by amIng exactly what takes pl8¢e during the onset and growth of Can[- onè protein at a time. Proteins are present in 811 of the cdls in our ty. irnguding in cancer cells. The types of proteins. their quantty, and the level of their activity can differ belween normal cells and cancer cells. Proleins enable cancer cells to grow very fast or they can cause them nol lo respond lo a given drug. One of ihe rnain approaches in studying cancEr cells and identifyin9 riew treatmenl largels is io analyse their protein conlent in great detail. Action Against Cancer supports researth to undersland canr cells, to pave the way for the design of drugs targeting those profeins that are found to play the most imForlant role in the prOgSsiOn of cancer. AMPLE OF PROGRESS: B in cancel disco A team al the Unwetsrty of Sussex made a discovery that ryxjkl hdp to intrease life expe(lan¢y and improve treatment for an aggressive brain (gncer. whith impads thousands of reople every year in the UK. and hundd$ of thousands w0rl¢Jwe. In the Adion Against Cancer stu. thè researthws dern¢)nstraled that an understudied protein calod PANK4, is able lo block canr cells from respoThJing to chemotherapeukn"c treatment for the highly intrusive brain eAn(r. glioblastoma. The team ftjrther showed that rf Ihe protern is iemo¥ed. 11$ rèspond to the main chemolherapy dw9 used globalty for the treatmenl of g1w)as1oma. They ntr4V Iwe to ¢Jwdop a dno to reVee ¢hemo-resislan¢8 and improv¢ ouuook lor palienls.
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Metastssis When cancer is said to have spread Ihi5 means il has metastasised. This is when cancer cells break away frorn where they first formed and travel through the blocJ or tymphatic systems to forni new tumours in other parts of the body. This development of SeC(dary cancer is called metastasis. A melastatic tumour is the same type of cancer as the primary tumour. Action Agaist Cancer funds a number of projects that are linked to understanth'ng the causes of metastasts. in order to.. more effectively predict the likelihood of cwrErous cells melastasising {spreadiThJl in each pab'enl. taihN Ihe testing for patients with a high likelihood of their cancer metast'sIng so as to irnprove the likelihcod of eafty diagnosis. improve the treatment slrategies for Ihese patnIS once a prOpenty for melaslasis of their cancer has been identified, thus greatty increasing their thanees of gJNval. EXAMPLE OF PROGRESS. Bfeast cancer cell communicab.on Breast Cancer is Ihe most ¢ommon fomi of cancer worf¢JwKle, responytrAe for 25% of tran[$ in women. Whilst tatment is effective and curabve in earfy breast t2iicer. meiasiatic disease is intsurabb. The lumtsur microenvironment of breast fan¢er plays an importanl role in whelher the disease will grow ar spread to other part5 01 the body. and hL)W rt will re¥KJnd lo trealmenl. A project at the new research farylty at Anglia Ruskn"n University. Cambridge, part funded by Actitsn Against Cancer, is delving into the intrice dynaffli¢5 of breasl i>ncer. The team is exploring the relalronship beeen lumour cells and Ihe surrounding tissue. with a pa"(131 loojs the role of tslty tlssue. By studying how fatty lissue cells and tumour cells }llabOrate in guiding communution pathways, the research airns to brjdge gaps in understanding Iheir molecular interactions. If the researth ideniifies new fatty andlor cancer molecules thal play a crucial ro in thvse processes, improved di8grb)sb"cs arkl treatments C be developed. Achlevements and perforniance Income c4Jnlinues to remain at a rnLK ky4ver level than durirrfJ pr&Covid pandemic times. A smam number of lundraising events took place during the year. induding noiabty Catfesl and A Movabbe Feast, which combined raised more than £100.CQO. Everyone involved with Action Against Cancer is eno gratefijl to the indidUalS, companies and trusts and foundations that ha¥e donated towards our work. We are incredibly proud of the groundbreaking work the soentists in ihe laboratories at Imperial Col*e. London. the Universty ol Sussex and Anglia Rusknn UnNeisrty, Cambridge have achieved thjring the year. Below is a Samp of published papers deScring work wholty or partty funded byActm Against CancEr.' 1. The mutational landscape of the adutt healihy parous and nulliparous human baSt 2. Thè role of non-coding RNAS in extrallular vesides in breast cancer and their diagnostic implutions 3. Comparison of phenom and CIDNA in a large breast screening pokxJlab"on." the Breast Screening and Moniloiing Study IBSMSI 4. The inhibitory propertes of a nosel sdeclNe LMTK3 knnase inhibrt
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Financial review During the year the tharity's income from au sources amounted lo £325.36S (2022.. £508.2261. In the same perii)d, expendilure on charitable adivibes totamed £389.577 {2022". £477,732), and the (x)st of raising funds lolalled £72,58612022'. £71,_ Accumulated funds as at 30 Septemter 2023 totalled £2,046.815l222: £2.183,5931. Thè TnJstees consider thal the financia1 position as at 30 September 2023 is satisfactory. Approximately hvtsthirds of these lunds linduding those in Unrestrted ftjnds) have been awarded to apwoved projects {see Note 131. 11 is the poliw ol ihe charity ihal unrestricted fvnds which have not been designated for a speufic use should be maintained al a level equivalent to beeen ihree aTrJ SVA months expendilure. The Truslees CLJnsider that rèseNes al ihis level wll ensure that, in the event of a sgnrficanl drop in fvnding. they wll be able to continue the charity's currenl activities while consk1eration is given to ways in which addonal funds may be raised. This level of reserves has been mainlained throughoul the year. Plans for the future The chaiity will rA>ntin to lund all of the projects already approve(l. and to fundraise io support other searCh aiming lo further undèrstand cance¥ and how to bettei dognose and treat rt. The charty will continuè to disserninate rèsults of searth in published s(jentif papers. M the oryanisatw)n's websiiè wd in rÈgular e- newsletters. Structure, govemance and managem•nt The charily is a ¢x>mpany limiled by guarantee. WKxJfpoTated on 8 September 2011 and registered with the Charlty Comrnission on 9 Septembw 2011. The caffs out it5 a(ivities using the wryking name Action Against Cancer. The Trustees, who are also the directors for the purpose of ccnpany and who served during Ihe year and up to the date of signalure of the finartcial statements were.. Mr Percy B&Wey Mr Jonathan S M Craft Mr Mauric H Craft Mrs Rachel L Craft Mrs Michaela M Rees Jones Mr Lauren¢e J F Tarbo The Board of Trustees is authorised lo appoint Trustees to fill vacancies arisin9 thiough Ihe resignatK>n death of an existsng trustee. None of the TwstÈes has any benefiual inlÈrÈst in ihe o)mpany. All of the Trustee$ are member5 of the cornpany and guarantee io contribute £1 ir) the event of a winding UP. The charity beffts from the provision of ¢omNKMlation and admintstrative supwt from QF Holdings NW Limited. a company that is cnntrolled by r£rtsin of the Trustees of Ihe thaiity. Nr) monetary value can be attribuled lo this supwjrt, and Iherefore rt 15 r1 induded in the Iinaw stslements. There ale no other transactions wilh relate(1 parbes. The Trusws maintain a register of interests, whtch is updated at meeting. The Trustees have assessed the maD)r risks to whith the d)arrty is exposed. and are satisfied that systems e in pla to miti.gale exposure to thè major rsks. Inlemal ¢ontrol ri$k$ are minimise<1 by th8 wnplementation of wcodures for aLrthorisation of all transactions and projects. Pro¢edure$ a in place to ensu complk4ice with heamh and safety of staff. vonteerS. dients and MSTtors.
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 On behall of the board of Iruslees Mr Mauri¢e H Crdft Trustee Dated.. 28 June 2024
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HILARY CRAFf CHARrfABLE FOUNDATION LIMITED I report lo the Trustees on my exarn1nat of the ffinanual statements of The Hilary Craft C?lab FoundatK•n Lirniled Ilhe charity) for the year ended 30 September 2023. RvJpon$ibilitiÈ# and basis of report A$ the Trustees of the charity land also lis direclois for thè KMMrx)ses of (xsmpany lawl you arè responsible for the preparation ol th8 finarKi¥l slalem$nts in accordance with the requitemenls ol Ihe Companies AL# 20C61th8 2006 Adl. Having satisfied mysew that the ffinancial stalements of the cw are r¥)t required to be audrted under Part 16 of the 2008 Act and are eligible for independent examinathm, I report in SPect of my examination of the charrty's financial slalements carrd oui under section 145 of Ihe Chariiies Act 2011 (the 2011 Act). In carying out my examination I have lollowed all ihe applicable Directk)ns given by the Charity Comrnission under section 14515}Ibl of the 2011 Act. Independent exafflinerfs statement Since Ihe charity's gross incDme exceeded £250.CfKJ yfMJr examiner must be a member of a boty listed in section 145 of the 2011 Ad. I confirm that l am otJalrf*d to undertake the examinaiK>n tuSe l am a member of ICAEW. which is one of the lisled todJ"es. I have cofflpleted my examinalK)n. l ¢wfinn that no matters have come to my attentp)n in cA)nnectiw wilh the exarnination ging me cause to belEve that in any material respeGt-. accounting records were not kept in respect oflhe chanty as required by section 386 of the 2006 Act," or the financial statemenis do not accDrd with those records., or Ihe finan(aal statements do not u)mply with the accounb"n9 rewKements of sect¢on 396 of the 26 Ad other than any qUiremen1 that the accounts gNe a Irue an¢J fair ts nol a malter considered as part of independent examination", or the finanaal statements have not been prepared in accordance with the methods and principles of the Stalement of RecOmmeled Practice for aco)unling aThJ reporling by charib'es applicable to Charits prepar¢ng Iheir accounts in accordance with the Financial Reporting Standard applicat48 in the UK and Republ¢c of Ireland IFRS 102). I have no ¢on¢ems and have come a¢ross no other malteTS ¢onnedb)n wrfh the examinab.on lo which attenlw should drawn in this repurt in order to enab a woper urwjerstsnding ofthe finanaal stalernents lo be feached. (LS JS. Aceountsnts & 8usinÈss Advisoys Llmlted PetsrAtkinson F.C.A James House Stonecross Business Pa Yew Tree Way Wdrringlon Cheshire WA33JD Dated. 28 June 2024
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2023 Current financial ye•r Unrnstricted Restri¢tsd run lunds 2023 2023 Totsl Total 2023 2022 Income from: Volunlary in¢om• Investments 182,550 42.618 1W,197 282,747 42,618 501,221 7,005 Total income 225,168 1(.197 325.365 508,226 Ex endlture on.. Raising funds 72.566 71,907 Charrtable ath"vrts 377.059 12.518 389.577 477,732 Total 449.625 12.518 462,143 549.639 Net lexpenditure)fin¢om tor the yearl Net mov•m•nt in funds 1224,45n 87.679 {136.778) {41,4131 Fund ba18nc*s at 1 October 2022 2.171,316 12.277 2.183.593 2.225.OC6 Fund balae¥ at 30 Sèpt¢mbèr 2023 1.946.859 99.956 2,046.815 2.183.593 The statement of financial activities includes all gains and losses reccrfJnised in Ihe year. All income and expenditure derive from continuing activities. The slatement of financAal activities also Complie$ with the requirements for an irKome and expenditure attount undw the Companies Act 2CiI6.
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER STATEMENT OF FINANCIAL ACTIVITIES {CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2023 Prlorfinancial year UtrIcted Restricted funds funds 2022 2022 Total 2022 Motes Voluntary income Investrnents 464.027 7.Tr)5 37.194 501.221 7.005 Total incom¢ 471,032 37,194 508.226 nditurè on: Raising funds 71.)7 71,907 charrt$b aijwities 339.665 138.[7 477.732 Totsl 411.572 138.067 549,639 Net leMpenditure)finct)mt for the ye•rl Net movèment in funds 59.460 I1,873) 141,413) Fund balances at 1 October 2021 2.111.856 113.150 2,225.006 Fund balanc•s at 30 September 2022 2.171.316 12.277 2.183,593 The statement of finaThial actNities iThSudes all gains and losses recognised in the year. The slatement ol financial actiwties indudes all gans and losses re(J)gnised in the year. All *xome and expenditwe derive from continuing acliwlies. The statement of financial aCVitieS also complies wilh the reQrementS for an irKome and exPend[tu account under the Cornpanies Act 2006. 10-
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER BALANCE SHEET AS A T 30 SEPTEMBER 2023 2023 2022 Notes Current ass•ts Debtors Cash al bank and in hand io 436 2,1th).020 391 2,239,418 2,1,456 2,239,809 Creditors.. amounts falling due within one year 11 (53.641) 156.216) Nel current assets 2.046.815 2,183,593 Funds ofthe charity Restred fuThls Unrestricied funds.. General unrestrided fun(J$ DesKJnated fijnds 12 99.956 12,277 705.222 1.241.637 658.197 1,513,119 13 2.046.815 2.183.593 The company is eniiued to the exemption from the audrt requirement contained in section 477 of the Companies Acl 2CW)6, for the year ended 30 Septethr 2023. The directors acknowledge their responbilrtieS for complyin9 wth the requirements of the Companges Act 2008 with respect to accounting records and the prepwat)n offw)ancial statements. The rnembers have not required the company to obtain an audit of rts ffinanoal statements for the year in queslion in accoidance with section 476. These ffinanryal slalemènts have been ppared in attorar vrith the rMovisK)ns applicable lo o)mpanie$ stsbject to the small Companies regime. The financial statements wefe aPPToved by Il Tnjstees on 28 JU[ 2024 Mr mauri H Craft Trustetr Company Registration No. 07767248 11
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2023 2023 2022 Cash flows from operating activities Cash absorbed by operations 16 1182.016) 170.5781 Inve$ting aetlvftlg$ Investrnent income received 42.618 7,005 Net cash genernted from investing act[vi•S 42.618 Net cash used in financing activities Net d•cr•as• in cash ab)d Cash equivalents (139.3981 {63,5731 Cash and cash equNalents at beginning of year 2.239.418 2.302.991 C*¥h and caBh equivalents at end of year 2.1.020 2.239.418 12-
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Accounting policies
Charity Inforn)ation
The Hilary Craft Charitable FcldaI•)n Limited is a private c4Jmpany limited by guarantee incorporated in
England and Wales and a registered charity in EnglaTrJ and wa5. The registered office is 2 Regency
Chambers, Jubilee Way. Bury. Lancashire. BL9 OJW.
1.1 Accounting convention
The financial Statements have been prepared in aCrdan with goveming docurnenl, the
Companies Act 2006 and 'AcLounling and Reporting by char"eS.. Slatemenl of Recommended Practice
applicable to Charits preparing Iheir accounts in aCt0rdan with Ihe Fin8nryal Reporting Standaid
applicable in the UK and Republic of Ireland IFRS 1021" {a5 arnended for accounting periods commencing
from l Jarwary 20161. The charity is a Pubhc Benefit Entty as defined by FRS 102.
The nancl statements are prepared in sterfing. which is the functional Then¢Y of the charity. Monetary
amounts in these finanual ststements ace rounded lo the nearest £.
The financial statements have boen ppared under the histor1 cost convent)n. The principal accounting
policies adopted are set oul tlow.
1.2 Going eoncem
At the lime ol appromng the finanaal siatements, the TNstees have a reaSonae expectation that the charity
has adequate resources to continue in operational existence for the foreseeable fvture. Thus the Trustees
continue to adopt the going concem basis Of)Untg in preparing the finanaal statements.
1.3 Charitable lunds
Unrestricted fvnds are avalable for use * the disceb"on of the TnJ$tees ift fvrtheran¢e of their charitable
objectives.
RestrNXed funds are subJ"e¢l to spe¢ifi¢ c4)ndilions by donors as to h(M Ihey may be used. The purposes an¢J
usès of the restricteil lunds are sel out in the notes to the Ounts.
1.4 Income
Inwme 15 recognised when the charity is alty enlitled to rt after any perf0rnan conditnS have been met,
the amounts can be meas¢Jred reliabty, rt is prObae that income will be recewed.
Cash donations are recognised on r1p1. Othei donabons are fe(x)gniseil once the tharity has been notffied
of the donatK)n, unless performance conditions require deferral of the amount. Inwme lax recoverable in
relab.on to donations receNed under GiftAKJ or deeds of covenant 15 recogni5ed at the time of Ihe donation.
Legaaes are recognised on rwipt or otheMise rf the tharity has been notified of an impending ¢Jistribulk)n.
the amount is known. and receipt 15 expected. If the amount is krx)wn. the le9 is Irealed as a
¢orbtingent assei.
Donated seNees aTe re¢cJnrse
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Accounting polici•s (Continued) 1.5 Expenditure Expenditure is recwised on Ihe ba&s. Fundraising costs ale those irtDJrred in generaling fund5 and do not indude the o)sts of disseminating information in support of the Charitab aclwities. &Jpport costs a thosè ujsl incajrred dwecty in SLwori of &xpendrtU of the obie(as of ihe charity. Overhead costs are albcaled on the basis of Ihe actual Spend by acliwty. 1.6 Cash and eash •quivalÈnts Cash and cash equwalenls Èndude cash in hand. deFKJSts he at call WTth banks, other short-terrn liquid inveslments with original maturities of the rfy)nths or W. aTrJ bank overdrafts. Bank overdrafts are shown within borrowings in Jent liabilrties. 1.7 Financial instruments Thè charity has elected to appty the prowsion$ of Sedion 11 'Basic FanUal Instruments, and Seclion 12 'Other Finanaal Instrnments Issues, of FRS 102 to all of its finanual instruments. Financial instruments are recogntsed in the charitys balance sheet when Ihe charity becnmes party to the contractual provissons of the instrument. Financial assels and liatslities are offsel. wilh the nel amoLtnts presented in Ihe finanaal statements, when there is a legally enforceable righl to set off the recognised amounts and there is an intention to settle on a net bas(s or to realise the asset and seltle the liabthty S1j11ane0u$ty. Basic flnancial assets Bast¢ financial assets, whi¢h indude debtors and cash and bank balan5. are initially measured at Irans8clDn pnce indudirvJ transadion costs and are subsequently carried at amortised CLJSt using the effective interest melh(xJ unless the afrangement ¢onstrtules a financing transactiorb. where the IransactDn is measured 81 the present value of Ihe futu receipts dis(X)led al a market rate of interest. Financial assets dassified as re7v31e wrthin one year afe ntx alNtised. Derneognition olllnaneialassots Financial assets are derecognised onty when the contractual rights to the cash flows from the asset expire or are setued. of when the tharty transfers the finanual assel and subslanlralty all the risks and rewards of ownership to another entty, or rf sorne signfficanl risks and rewards of ownership are retained but control ol the asset has transferred to another pwty that is able to sem the asset In its entirety lo an unielated third party. Basic financial liabilities Basic finanaal liabilits'es. indLthg ueditors bank fv)ans are inth'ally recognised al transaction pricè unlèss the arrangement constrtutes a financiThJ transaction. where Ihe debt Inslrumenl is measured al the present value ol the future payments disCoLtell at a market rale ol interesl. Financial liatslities ckssrfie(l as payablè within one year are not amorti5ed. Debt instruments are sub5equentty carwie(l al arned cost. usry the effedjve inleresl le method. Trade creditors are ob19atior to pay for 9oods or seNces that have twi a(4uired in Ihe ordinwy course of operations from suppliets. Amounts paYae are ClasSrfd as current liabilitiès rf payment is due within one year or less. If not, they a presented as non-currenl liabilities. Trade ueditors are rerA)ynised irulialSy at Iransaclion pri¢e and subsequenuy measured al am0.sed st usng the effe¢ttve inleresl method. 14-
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Accounting policie8 (Continued) Derecognition of financial liabilities Financial liabilities arè derecognised when the d)ariVs contractual oblwJ*ions expire or are discharged or can¢elled. 1.8 Employee beneffts The cost of any unused holKlay entitlement is recognbsed in wiod in whith the employee's SerVS are reIved. Terminaiion benefrts are recognised immediatety as an expense wthen the charity is eTrnstrab1y cormiitted to terminate the enwbyment of an employee or to provide temination beneffts. 1.9 Retirement benefits Payments to defined cntbUt¢On retirement benefrt schemes a charged as an expense as they fall due. Inc<Jme from donations and le9actes UnTrstricted Res1rlcted funds funds 2023 2023 Totrl Unrèstricted Restrletsd funds funds 21122 2022 Total 2023 2022 Donations and 9ifts Fundraising events 1S8,251 24,299 1LTh).197 258.448 24,299 464,027 12,194 25.(XJ) 476,221 25,CX)O 182.550 1CK).197 282.747 464,027 37,194 501,221 Income from investments Unr¢$tri¢tsd UnrnstrScted lunds funds 2023 2022 Inte$1 ¢Vable 42.61B 7,005 15-
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 ai$ing fund¥ Unre$tricted Unrestrieted fund$ funds 2023 2022 Costs of generating voluntary incorr Travelling and subsistence Printing, stalionery and poslage Fundraising expènses Other expenses Advertising Other fundraising costs Staff costs Insurance 112 112 1.091 463 298 475 615 67,958 895 711 68,503 934 Costs of generating voluntwy incc¥ne 72,566 71,907 Charitable activities Unrestricted Restricled 2023 2023 Total un(lIcted Restricted 2023 2022 2022 Totsl 2022 LMTK3 drug development Cancer stem cells researth PhD and other student bursanes Ovarian cancer research Pancreatic cancer research Genetic switches Breast can(r rese8r¢h Other researc project 143.242 743,242 8288 91,781 91.781 1,813 8.288 1CQ.873 64.622 12,627 25.238 66,530 73,850 64,622 12,627 25.238 66.530 111.044 2.817 51.178 176.321 194 2.817 51,178 180.551 194 4230 37.194 373.752 12,518 386.270 334.648 138,067 472,715 Sharè of govemancè costs {see note 61 3.307 3.307 5,017 5,017 371.059 12.518 389.577 339.665 138.17 477,732 Analysls by fimd UnrestrKled funds Restricted funds 377.059 377.059 12.518 339.665 339.665 I38.7 12,518 138.C67 377.059 12.518 389.577 339.E65 138,7 477.732 The other rese*th project is mainty relakn lo a projed on tumour micromanagement. 16-
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Support costs Support costs Governance costs 2023 2022 Audil fees Independent èrdminatK>n fèes Bank charges Professional fees 4.050 2.000 560 747 2.OLM) 560 747 324 3,307 3,307 5,017 Analysed befvleen Charitable actNities 3.307 3.307 5,017 Govetnartce wsts indude £2,(MJJ 12022." £4.0501 in relalion lo a¢¢ountsnw fees payablè to Ihè independent examiner12022'. auditor). These semces We don*ed by the indÈpendÈnt Èxaminer and hencè are induded vrithin voluntsry irKx)me. Trustees Nonè of the Trustees lor any persons comeded Vth them) received any remuneralh)n or beneffts frorn thè charity during the year. A close family member of a trustee was remunerated for athinistrative serv$ provided in the year tolalling £15,(KQ {2022.' £15.(1. Employeés The average monthly numbef employees during the yeai was: 2023 Number 2022 Numbèr Management Employmènttosts 2023 2022 Wages and salaries Soaal seujrity costs Other pens costs 65,524 1,690 1.289 64.250 2,42S 1.283 68.503 67,958 No employees had anNJal remuneralion of£60.LIXJ ¢y more. Many of the r¢searth projects invofve the use of PhD students. Action Against Can¢er is currentty furnling number of PhD sludentships and fellowshps at lrnperial College. L7th)n and ARU, Cambridge to support the search work 17-
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 T•xtion The ¢h8rity is exempl from tax on income and gains lalling wrftiin section 505 of the Taxes Ad 1988 or section 252 of ihe Taxation of Chargeable Gains Aci 1992 10 the extent that these are applied to its ¢haritable objects. 10 Debtor¥ 2023 2022 Amounts falling due wilhin gno year. Prepayments and aclyued ino)me 391 11 Creditors: amounts falling due withln year 2023 2022 Trade creditors Olher dItorS 51,728 1,913 54,422 1.794 53,641 56.216 12 Restrlcted lunds The restricted funds of the tharity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. Movement In funds Mov•mènt in lunds B•lanc•ai Income Eywndituve Panc¢ •1 Income Eyndilufg 1 Ocioter 1 October 2021 2022 Balan¢e at 30 SeptÈmbgT 202J ARU Laboratory Cancèr slem cells rèsearch Breast cancer research 95.7 95.1 113.150 11LKI,8n) 12.277 {37,194} 18.288} 14,230) 3.989 37.194 113.150 37.194 {138,C67) 12.277 1CQ,197 {12,5181 99,956 The research work being undertaken ts desuibed in detail n the Trustees. Rewt under Research Themes. 18-
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 13 Designated funds Out of Ihe total funds of £2,046.815 availabb, indudirrfj unrestn.cted 1x)rne, ftJnd$ have been awardèd to approve¢J proiÈcts where planned luturè expendrture ovèr the nèxt fv40 yèars is ¢alculated lo be £1,341.593. Of this, £99,956 are restrided funds and £1.241.637 are unrestricted funds Oesignaled fLmds were awarded to projects wthin the research themes sh(rwn in the table below. ramme area Genetic Swi1ches LMTK3 CSC'S UCB Metastasis ARU LatM)ratory Totsl unds desi 203.434 85S.(KH 8Q.034 14,618 ated cted ntrIcted 203.434 856.004 76.045 14,618 388 95.968 1.241.637 15.2 3.989 187,115 1,341.S93 95,967 99.956 13.9 l(X).00 14 Analysis of nel ¥ss¢ts betwt•n funds Unrestn"¢ted funds 2023 R•strict•d lunds 2023 Totsl UnreStrted Reslricted funds fLmds 2022 2022 Total 2023 2022 Fund balanres al 30 Septernbef 2023 are represÈnted by- CUnt asselsllliablities) 1,946,859 99.956 2.046.815 2.171.316 12.277 2,183.593 1,946,8YJ 99.956 2.046,815 2.171.316 12,277 2.183.593 IS Related party trdnsactions Other than as disdosed in note 7. there re no disclosable related party transa¢lions during thè year (2022- none). 16 Cash generated from operations 2023 2022 Defityl for thè year 1136,7781 {41.4131 Adjuslments ft>r. Investment in¢ome recogThsed in statement of finanoal ac111¢$ 142.6181 17.0051 Movements in workiThJ ¢apita'. (Increase) debtors IOe¢réasÈ) in ¢redrtors 1451 12.575} 1101 122,1501 Ca$h ab$orlJed by operations 1182,016} 170,5781 17 Analysis of ¢hanges In net funds The chafity had no malefol debt durrng the year. 19-