Charity registration number 1143743 (England and Wales) Company registration number 07767248 THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr Percy 8eckley Mr Jonathan S M Craft Mr Maurice H Craft Mrs Rachel L Craft Mrs Michaela M Rees Jones Mr Laurence J F Tarlo Ambassadors Ms Tiffany Chawner Ms Nicola Floyd Mr Julian O'Dell Mrs Cheryl Whitehead Patron$ Lord Alliance CBE Harry & Carolyn Black Barry Boas Roger Cadbury Family Harold & Daphne Cooper Charitable Trust Peter & Marilyn Cooper John Emery Alessandro Dusi Isabel Etledgui The Fallon Family Charles & Diane Herlinger Michael & Lotlie Hunter Bevs Malim Martin O'connor Sir Paul & Lady Ruddock Chris Sharp Mlchaela M Re8s Jones Secratary Mrs Joyc& Fletcher (JPI Charlty number 1143743 Company number 07767248 Principal address 2 Regency Chambers Jubilee Way Bury Lancashire BL9 OJW Registered offi¢e 2 Regency Chambers Jubilee Way Bury Lancashire BL9 OJW
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER LEGAL AND ADMINISTRATIVE INFORMATION Accountants JS. Accounlanls & Business Advisors Limited James House Slonecross Business Park Yew Tree Way Warringlon Cheshire WA3 3JD Bankers Virgin Money 17-21 Oxford Street Bolton Lancashire BL1 1RD
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER CONTENTS Page Chairman's statement Trustees, report Independent examiner's report statement of financial activities 9-10 Balance sheet 11 Slalement of Cash flows 12 Notes to the financial slalemenls 13-20
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2024 The Trustees are pleased lo report that during the past year, Ihe charity has continued lo fulfil ils role, sponsoring research into improved diagnostics and Ireaimenls for patients. Action Against Cancer fills a specialist role in the field of cancer research. providing crucial seed funding and ongoing support for new and innovative projects. There are details in this report of advance made with funding from Action Against Cancer in laboratories al Imperial College London, the University of Sussex and al Anglia Ruskin University Cambridge. These have resulted in publications in presligioLts scientific journals covering areas such as newly discovered non-invasive methods of early diagnosis of pancreatic and bieasl cancers and pioneering research into improved Irealmenl drug-delivery using nanoparticles. Whilst fundraising has not as yet recovered since the Covid pandemic, the accounts show an increase of approximately 650/0 in the 12 months lo September 2024. I would like to personally thank all of the Palrons. Ambassadors. individuals, companies. charitable Irusls. foundations and individuals who continue lo support Action Against Cancer. Working together we are supporting cutting edge science and making a subslanlial difference for cancer patients. Mr aurice H Craft Chairman Dale.. 31 July 2025
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2024 The Trustees present their report and financial statements for the year ended 30 September 2024. The financial slalemenls have been prepared in accordance with the accounting policies set out in note 1 to the finan¢ial $121ements and comply with the charity's governing document, the Companies Act 2006 and "Accountin9 and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standafd applicable in the UK and Republic of Ireland (FRS 1021 leffeclive 1 January 2019)" Objectlves and activlties The objectives of the charity have remained unchanged. These are lo promote and protect the health of the public, in particular by research into the prevention, tfeatmenl and cure for all forms of cancer. This includes research into practical applications for the prevention, Irealmenl and cure of cancer and lo disseminate the useful results of such research lo the public. The Charity Commission's general guidance on public benefit has been rèferred to when rèviewing our aims and objectives and in planning our future aclivilies. Sclentific Advlsory Board Action Against Cancer is privileged that the following scienlists and Clinicians have agreed to serve on our Scientific Advisory Board.. Professor Heinz-Josef Lenz - Deputy Director for Research Program and Head of the Gastrointeslinal Cancer Program, USC Norris Comprehensive Cancer Centre Dr Abby Siegel - Assistant Professor, Department of Medicine, Columbia University Medical Cenlre, New York Dr Siddhartha Mukherjee - Associate Professor of Medicine, Columbia University Medical Cenlre, New York Professor Pramod K. Srivaslava - Director, Carole and Ray Neag Comprehensive Cancer Cenlre. Conneclicul Research Themes All work funded by Action Against Cancer falls under the following research Iheme5'. Cancer Stem Cells Genetic Switches Developing a drug for a totally new approach lo therapy (LMTK31 Understanding the Cancer Brain Melaslasis Cancer Stem Cells Cancer Stem Cells ICSCS) only constitute up lo 5 /0 of a cancerous tumour, but they generate the fast multiplying cells that make up the majority of the rest. CSCS are also linked to some of the most malignant features of an¢er, in¢luding Irèalment resistance and the ability lo spread to other parts of the body. 11 can be many months or even years after successful treatment of a primary lumour. before secondary cancer spreads. This has been described as if the dandelion has been removed from the lawn, bul the CSC root is left below the surface lo regrow at a later dale. Action Against Cancer is funding a number of projects examining CSCS, to enable the development of trealmenls that specifically largel them - to more fully cut cancers out by the roots. The scientists are working lo gain a thorough understanding of how CSCS operate and to answer vital questions such as.. Why do certain patients not respond to treatments? What conditions allow some tumours to spread around the body. How could future treatments specifically target the most malignant cells?
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 EXAMPLE OF PROGRESS.. Nano articles for lar eted Irealmenl Whilst chemotherapy is an important treatment option, due to ils non-largeted inleraclions, it can also Cause serioLts side effects. Some drugs suffer from poor bioavailability due lo very poor solubility in walef, resulting in unsalisfaclory effectiveness. In addition, they can have lower effectiveness due to their absorption on the surface of plastic or glass containers, resulting in the drugs being stuck lo the vials instead of being administered lo the patient, leading to a requirement of higher doses. In recent years, nanomalerials have been extensively studied and ulilised as drug delivery systems for largeled treatment for certain cancers. Action Against Cancer is supporting a team al Imperial College London developing a drug delivery system consisting of nanoparticles. which aims to provide a new method for largeled ¢ancer therapeutics with minimal side effects and increased drug effe¢liveness. Genètlc Swltche$ Since the mapping of DNA with the Human Genome Project, there is greater understanding within the scientifi¢ ¢ommunily of some aspects of cancer. In the past, the vast majority of DNA was believed lo be 'iunk' as it does not code for protein. It was thought only a small amount of DNA was signifi¢anl, that which turns into single stranded RNA, and then into proteins responsible for the Structures and functions we are familiar with (brown hair, blue eyes el¢l. However, it is now known that much of DNA is in fact transcribed into non-coding RNAS, some of which play important roles in normal biological function, gene regulation and cancer development. Action Against Cancer is funding a range of projects related to identifying non-coding RNAS that are operating as genetic switches causing cancer lo grow or shrink. EXAMPLE OF PR GRESS.. Blood lest lo dia nose ancreali cancer We are proud lo have part funded some Important research at Imperial College London that has for the first lime validated the use of a specific blood lest lo diagnose pancreali¢ cancer. The study also suggests the lesl may be used lo monitor Iieatment response and recurrence of the disease. These findings were published in the Journal of Experimental and Clinical Cancer Research. 11 is significant because pancreatic cancer is a highly lethal disease with little re¢enl improvement in the five-year survival rate, which remains al approximately 130/0. Due lo ils aggressive nature and a lack of specific symptoms, patients are often diagnosed at a late stage and therefore few patients are eligible for surgical re5e¢lion. Even after surgery and chemotherapy, the prognosis remains around 20°/o after five years. It is envisaged that this research will enable more a¢curale diagnosis, leading lo more prompt appropriate treatment lo save lives, and prevent futile surgical intervention in patients with benign disease.
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Developing a drug for a totally new approach to therapy ILMTK31 The identification of a new cancer causing gene in 2011 by Professor Georgios Giamas was the earliest significant breakthrough supported by Action Against Cancer. This gene called LMTK3 is new lo humans, and is expressed more in cancer cells than in normal cells. Those cancers that have high levels of LMTK3 are also much more aggressive. Since 2011 we have funded Professor Giamas, research aiming to develop an anli-LMTK3 drug, This would be lo overcome the resistance lo Irealmenls that often develops within patients, bodies. Many patients respond well lo initial treatment bul then develop resistance lo il - this is when, with Cufrently available Irealmenls, their cancer becomes much more difficult lo treat. A potential anli-LMTK3 drug will be specifically designed to work in conjunclion with a patient's existing treatment, and in a way that overcomes chemotherapy or hormonal therapy resislance, allowing these treatments to start working again. This would be momentous slep in the history of Cancer Irealmenl. EXAMP F PROGRESS.. Dru discove The team al the University of Sussex working on this drug development programme has been investigating the relationship between the structure and function of LMTK3, to find valuable information about ways to largel this ¢an¢erous protein. Their results so far have revealed that the family of enzymes of LMTK3 can inleracl with another domain of the protein and affect ils activity. They aim to interfere with this inlera¢lion, via designing specific drug ¢ompounds, lo find allernalive ways lo blo¢k or reduce the expression of LMTK3 and ultimately impede the proliferation of cancer cells. UnderstandSng the Cancer Braln 11 is thought that cancer cells have a 'brain'. which is responsible for turning the cells 'on' or 'off . We are funding research lo gain a comprehensive understanding of this cancer brain, by learning exactly what lakes place during the onset and growth of cancer- one protein al a lime. Proteins are present in all of the cells in our body, including in Cancer cells. The iypes of proteins, Ihelr quanlily, and the level of their activity Can differ between normal cells and cancer cells. Proteins enable cancer cells lo grow very fast or they can Cause them not to fespond lo a given drug. One of Ihe main approaches in Studying cancer cells and identifying new treatment large15 15 to analyse Iheir protein content in great detail. A¢lion Against Cancer supports research to understand cancer cells. lo pave the way for the design of drugs largeling those proteins that are found lo play the most important role in the progression of cancer. EXAMPLE OF PROGRESS.. Cancer-As A team al the Professor Slebbing Cell and Molecular Biology Laboratory at Anglia Ruskin University funded by Action Against Cancer are researching fibroblasts, which are the most common cells of connective tissue in humans. When a lumour develops. they are the main cellular component in the microenvironmenl around il and influence ils development. These cancer-associated fibroblasts ICAFS) remodel the matrix Surrounding the lumour, affect the patient's immune response and signalling between cells. Some CAFS have been identified to help restrain tumours, whilst Conversely others have been found to assist cancer growth. It is essential therefore lo target the correct CAFS when treating patients. However. there are many different CAFS and cancers are often found to have multiple subtypes, which can originate ffom different cells. New subtypes are frequently being identified based on single cell analysis in various cancers. Inconsistency in the definition and naming of the subtypes, and in the Gharaclerisation of identifying markers in CAF subpopulalions, are key issues. One of the main objectives of this research is to identify CAFS that could be new lar9ets for drug therapy. To do this, the team will find key markers that differentiate CAF subtypes in terms of their function and compare them in different cancers lo discover common links. I d Fibroblasts
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Melastasis When cancer is said lo have spread this means il has melaslasised. This is when cancer Cells break away from where Ihey first formed and travel through the blood or lymphatic Systems lo form new lumours in other parts of the body. This development of secondary cancef is called melaslasis. A melaslalic lumour is the same type of cancer as the primary lumour. Action Against Cancer funds a number of projects thal are linked to understanding the causes of melaslasis, in order to.. more effectively predicl the likelihood of cancerous cells melastasising (spreading) in each patient. tailor the testing for patients with a high likelihood of their cancer metaslasising so as to improve the likelihood of eaily diagnosis. improve the treatment strategies for thesè patients once a propensity for melaslasis of their cancer has been identified, thus greatly increasing their chances of suNival. AMP FPR GRESS., er detection With support from Action Again51 Cancer, a team at the University of Sussex published important findings about delecling breast cancer earlier in the prestigious jouinal Oncogene. With breast cancer being responsible for 25QA of cancers in women, it is the m05t common form of cancer worldwide. In early stages, breast cancer treatment is often effective and can be cured. However, once il has spread breast cancer is incurable, highlighting the need for early deleclion. Currently early deleclion relies on invasive procedures. however il has been shown that small cellular containers within the body (called extracellular vesicles) obtained from biopsies may be able lo be used foi diagnosis. AchSevemants and perfomiance Whilst income continues lo remain al a much lower level than during pre-covid pandemic times. approximately 640A more was fundraised than in the previous year. A small number of fundraising events look place during the year, including notably Calfesl and A Movable Feast, which combined raised £70.000. Everyone involved with Action Against Cancer is enormously grateful lo the individuals, companies and trusts and foundations that have donated towards our work. We are incredibly proud of the groundbreaking work the scientists in the laboratories at Imperial College London, the University of Sussex and Anglia Ruskin University Cambridge have achieved during the year. 8elow is a sample of published papers describing work wholly or partly funded by Action Against Cancer.. Kinome-wide Synlhelic Lethal Screen Identifies PANK4 as 3 Modulator of Temozolomide Resistance in Glioblasloma (published 14th February 2024 in Advanced Scie17cel 2. CRISPR screens in 3D tumourspheres identified miR-4787-3p as a Iranscriplional start sile MIRNA essential for breast tumour-inilialing cell growth {published 13th July 2024 in Coiiimuiiicafions Biology) Unlocking the diagnostic power of plasma exlracellular vesicle miR-200 family in pancreatic duclal adenocarcinoma (published 8th July 2024 in Journal of Experimental & Clinical Cancer Research)
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Financial review During the year the charity's income from all sources amounted to £539,676 {2023.' £325,365). In the same period, expenditure on charitable activities tolalled £421,250 {2023'. £389,577), and the cost of raising funds tolalled £75.12912023'. £72,566). Accumulated funds as at 30 September 2024 totalled £2,090,11212023'. £2,046,815). The Trustees consider that the financial position as al 30 September 2024 is satisfactory. Approximately two-thirds of these funds (including those in unrestricted funds) have been awarded to approved projects (see Note 13). 11 is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent lo beeen three and six months expenditure. The Trustees consider that reseNes al Ihis level will ensure that, in the event of a significant drop in funding, they will be able lo continue the charity's current a¢livilies while consideration is given lo ways in which additional funds may be raised. This lev81 of reserves has been malnlained throughout lh8 year. Plans for the future The ¢harily will continue to fund all of the projects already approved. and to fundraise lo support other research aiming lo further understand cancer and how lo belter diagnose and Ireal it. The charity will continue to disseminate results of research in published scientific papers, on the organisation's website and in regular e- newslellers. structure, governance and management The charity is a company limited by guarantee, incorporated on 8 September 2011 and registered with the Charity Commission on 9 September 2011. The charity carries out ils activities using the working name Action Against Cancer. The Trustees, who are also the directors for the purpose of company law, and who served during the year and up lo the date of signature of the financial statements were.. Mr Percy Beckley Mr Jonathan S M Craft Mr Maurice H Craft Mrs Rachel L Craft Mrs Michaela M Rees Jones Mr Laurence J F Tarlo The Board of Trustees is authorised lo appoint new Trustees to fill vacancies arising through the resignation or death of an existing tfuslee. None of the Trustees has any beneficial inleresl in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up. The charily benefits from Ihe provision of accommodation and administrative support from QF Holdings NW Limited, a company that is ¢onlrolled by certain of the Truslees of the ¢harily. No monetary value can be attributed lo this support, and therefore it is not included in the financial slalemenls. There are no other transactions with related parties. The Trustees maintain a register of inleresls, which is updated al every meeting. The Twslees have assessed the major risks to which the charity is exposed, and are sa115fied Ihat systems are in place lo mitigate exposure to the major risks. Internal control risks are minimised by the implemenlalion of procedures for aulhorisalion of all transactions and projects. Procedures are in place to ensure compliance with health and safely of staff, volunteers. clienls and visitors.
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 On behalf of the board of trustees Maurf¢e H Craft Trustee Dated.. 31 July 2025
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OÈ THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED I report to the Trustees on my examinalion of Ihp Ilnanclal 81at8m•nts of The Hilary Craft Chlrftable Foundallon Lim5ted (Iha charity) for the year ended 30 Seplembèr 2024. Responslbllltle¥ Ind baBls of raport As the Trusla85 of the chaiily (and also its direclors for thè purpose$ of company law), you arè respon&ible for Ihe preparation Of the financial statem•nl$ In accoroance wllh Ihe requtrem8nts of the'CompaniesAcl 2006. Having salisfied myself Ihat Iha flnancial Statements Of thfj tharfty are not require410 be audited undepPart 16 Df the Companigs Aci 2006 and ar¢ ellgiblo for Independent Bxamlnalion, I report In rpspect gf my.examlnation'of th6 charlty's Ilnanclal statements Carried out under soction 145 of the Charities Act 2011. In carrylng Out my examinauon I have followed the Dlrection5 glvan by Ihe Charity C¢)mml$8lon under section 145(5)(b) of the Charilles Act 2011. Ind•p¢ndgnt •xamlnerfs #tatpment Slnce the oharlty's glos5 Income ex¢eeded £2SO,000, thè Indepgndgnl axamlner must be s momber ol a body115ted In ¥e¢lion 145 Df Ihe Char5tles Ael 2011. I confimi that l am qualified to undertake the oxamlnatlort because l am member of ICAEW. whlch Is one of tha Ilsled l)odlys, I have completed my examlnadon. l ¢onfirm that no matters have come tts my altentlon In connection wlth tha examinallon glving ma cause lo bolieve that sn any matérial re&pect; accounllng retords w6r¢ nol kept in r¢$p.ect of thè eharliy a8 re4uiAd by section 386 of tha Companlès Act 2006. 2 lh8 flnanclal statements do noi aGcord Wllh those rocords,. or the fin8ncial statements do not comply wlth thp 8ccounling requlrements of Sectlon 398 of the Compani85 Acl 2006 other Ihan any requlrement that tha finanoial statemen18 glvè a ifue and falr view, whl¢h Is not a matter ¢onsldered as p?rt of an Indepandent'examlnalion". or Ihp financial 8talomenl6 have nol bèen prepared in accordance with the rnethods and prlndples ol Ihe Slalement of R0Mmended Pracllcè for accountlng and reportlng by ch8rllles applicable to tharilies preparing Iheir finanolal slalements in accordance wllh the Financlai Reportlng Stsnd4rd applicÈble In Ihe UK and Republic oflrèland IFRS 1t>2). I hav8 no concems and have come acros8 no other matters In conn8ctlon wlth Ihe examlnatlon to whlch attentlon should be drawn In thls report In ord8r to enable a proper understandlng of th8 flnancial statsments to be reached. JS. Accountants & BuslnBss Advlsor8 Umlfod Poter Atklnson F.C.A James House Stonecross Businass Park Yew Tree Way Warrlngton Cheshlre WA3 3JD
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Current flnanclal year Unrestricted Restricted funds funds 2024 2024 Total Total 2024 2023 Notes Income from: Voluntary income Investments 105,563 74,795 359.318 464.881 74,795 282,747 42,618 Total income 180,358 359,318 539,876 325.365 enditur Raising funds 75,129 75,129 72.566 Charitable activities 322,798 98,452 421,250 389,577 Total 397,927 98.452 496,379 462,143 Net18xpendlturelllncome for the yearl Net movement In funds (217,5691 260,868 43,297 {136,778) Fund balances at 1 October 2023 1,946.859 99,956 2,046,815 2,183,593 Fund balances at 30 September 2024 1,729,290 360,822 2.090,112 2,046,815 The slalemenl of fin8ncial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The slalement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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 2024 Prior financial year Unrestricted Restricted funds funds 2023 2023 Total 2023 Notes Income from: Voluntary income Investments 182,550 42,618 100,197 282.747 42,618 Total income 225,168 100,197 325.365 en Raising funds 72,S66 72,566 Charitable activities 377,059 12,518 389.577 Total 449,625 12,518 462,143 Net lexpendlturelllncome for the yearl Net movement In funds 1224.457} 87,679 1136.778) Fund balances at 1 October 2022 2,171,318 12,277 2.183.593 Fund balances at 30 September 2023 1.946,859 99,956 2.046.815 The statement of financial activities include5 all gains and losses recognised in the year. The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies, The slalement of financial activities also complies with the requirements for an income and expenditure account under the Companies A¢t 2006. 10-
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER BALANCE SHEET AS AT 30 SEPTEMBER 2024 2024 2023 Notes Current assets Debtors Cash al bank and in hand 10 436 2,157,258 436 2,100,020 2,157,694 2,100,456 Creditors: amounts falllng due withln one year 11 (67.5821 (53.6411 Net current assets 2,090,112 2,046,815 Funds of the charlty Restricted funds Unreslricled funds: General unrestricted funds Designated funds 12 360,822 99.956 567.881 1,161.409 705,222 1,241,637 13 2,090.112 2,046,815 The company is enlilled lo the exemption from the audit requirement contained in section 477 of the Companies Act 2006, lor the year ended 30 September 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies A¢1 2006 with respect to accounting records and the preparation of financial slalemenls. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial slalements have been prepared in accordance with the provisions applicable lo companies subject lo the small companies regime. The financial statements were approved by the Trustees on 31 July 2025 aurice H Craft ee Tru Company Registration No. 07767248 11
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2024 2024 2023 Notes Cash flows from operating activities Cash absorbed by operations 16 (17.557} 1182,016) Investlng activltles Investment income received 74,795 42.618 Net cash generated from Investlng activities 74,795 42,618 Net cash generated from flnanclng activiti•¥ Net Increasel{decreasel In cash and cash equlvalents 57,238 (139,3981 Cash and Cash equivalents al beginning of year 2,100,020 2,239,418 Cash and ca8h equlvalents at end of year 2,157,258 2,100,020 12
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting policies Charity informatlon The Hilary Craft Charitable Foundation Limited is a private company limited by guarantee incorporated in England and Wales and a registered charity in England and Wales. The registered office is 2 Regency Chambers, Jubilee Way, Bury, Lancashire, BL9 OJW. 1.1 Accountlng conventlon The financial slatements have been prepared in accordance with thè charity's governing document, the Companies Act 2008 and 'Ac¢ounling and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) las amended for accounting p8riods commencing from 1 January 20161. The charity is a Public Benèfit Entity a5 defined by FRS 102. The financial statements are prepared in sterling. which is the functional currency of the charity. Monetary amounts in these financial slalements are rounded lo the nearest £. The financial statements have been pr&pared under the historical cost convention. The principal accounting policies adopted are sel out below. 1.2 Going con¢ern At the lime of approving the financial slalemenls. the Trustees have a reasonable expeclalion that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue lo adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charltable funds Unreslficled funds are available for use al the discretion of the Trustees in furtherance of their charitable objectives. Reslricled funds are subject lo specific conditions by donors as lo how they may be used. The purposes and uses of the reslricled funds are sel out in the notes lo the accounts. 1.4 Income Income is recognised when the charity is legally enlilled to il after any performance conditions have been met, the amounts Can be measured feliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income lax recoverable in relation lo donations ieceived under Gift Aid or deeds of covenant is recognised at the lime of the donation. Legacies are recognised on receipt or olhemise if the charity has been notified of an impending dislribulion, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a conlingenl asset. Donated services are recognised as income when the charity has control over the item, any conditions associated with the item have been met, the receipt of the economi¢ benefit from the use by the charity of the item is probable and the the economic benefit can be measured reliably. On receipt. donated services are recognised on the basis of the value of the gift to the charity which is the amount the ¢harily would be willing to pay lo obtain services or facilities of equivalent economic benefit on the open market.. a corresponding amount is then recognised in expenditltre in the period of receipt. 13-
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 A¢countlng policies (Continued) 1.5 Expendlture Expenditure is recognised on the accruals basis. Fundraising ¢osts are those incurred in generating funds and do not include the costs of disseminating information in support of the charitable aclivilies. Support costs are those cost incurred directly in support of expenditure of the objects of the ¢harily. Overhead costs are allocated on the basis of the actual spend by activity. 1.6 Cash and cash èqulvalents Cash and Cash equivalents include cash in hand, deposits held al call with banks, other short-lerm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities, 1.7 FSnanclal Instruments The charity has elected lo apply the provisions of Section 11 '8asic Financial Instruments, and Section 12 'Olher Financial Instruments Issués, of FRS 102 to all of its finan¢ial inslrumenls. Financial instruments are recognised in the charity's balance sheet when the charity becomes party lo the conlraclual provisions of the instrument. Financial assets and liabilities are offset, with the nel amounts presenled in the financial slalemenls. when there is a legally enforceable right lo set off the recognised amounts and there is an intention lo setlle on a nel basis or lo realise the asset and sellle the liability simultaneously. 8aslc flnanclal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured al Iransa¢lion price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement Constilules a financing transaction, where the transaction is measured at the present value of the future receipts discounted al a market rate of interest. Financial assets Classified as receivable within one year are not amortised. Derecognltion of flnanclal assets Financial assets are derecognised only when the contractual rights lo the cash flows from the asset expire or are settled, or when the Charity transfers the financial asset and subslanlially all the risks and rewards of ownership lo another enlily. or if some significant risks and rewards of ownership are retained bul control of the asset has transferred lo another party that is able lo sell the asset in its entirely lo an unrelated third party. Baslc financial Ilabllltles Basic financial liabilities, including creditors and bank loans are initially recognised al transaction price unless the arrangement conslilutes a finan¢ing transaction, where the debt instrument is measured al the present value of the future payments discounted at a market rale of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective interest rale method. Trade Creditors are obligations to pay for goods or seNices that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially al transaction price and subsequently measured al amorti5ed c05t using the effective interest method. 14-
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting policies (Continued) Derecognition of financial liabllltles Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.8 Employee benefits The cost of any unused holiday entillemenl is recognised in the period in which the employee's seNices are received. Termination benefils are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or lo provide lerminalion benefits. 1.9 Retlrement benefits Payments lo defined contribution retirement benefit schemes are charged as an expense as they fall due. Income from donatlon8 and legacles Unrestrlcted Re8trlcted funds funds 2024 2024 Total Unrestrlcted Re8trlcted funds funds 2023 2023 Total 2024 2023 Donations and gifts Fundraising events 80,301 25,262 359,318 439,619 25,262 158,251 24,299 100,197 258.448 24,299 105,563 359.318 464.881 182,550 100,197 282,747 Income from Investments Unrestricted Unrestricted funds funds 2024 2023 Intere51 receivable 74,795 42,618 15-
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Raising funds Unrestricted Unrestricted funds funds 2024 2023 Costs of generating voluntary income Travelling and subsistence Printing, slalionery and postage Fundraising expenses Other expenses Advertising Staff Costs Insurance 112 2,006 300 711 410 168 737 72,827 987 68,503 934 Costs of generating voluntary income 75,129 72.566 Char5table actSvltles Unrgstrlcted Restrlcted 2024 2024 Total Unrestrlcted Restrlcted 2024 2023 2023 Total 2023 LMTK3 drug development Cancer 51em cells research Pancreatic cancer research Genetic switches Breast cancer research Other research project ARU Laboratory 50,599 57,231 50,599 61,220 143,242 143,242 8,288 2,817 51,178 180,551 194 3,989 8.288 2,817 51.178 176,321 194 42,671 195,220 2,369 45,040 195,220 4,230 66,304 66,304 345,721 72,662 418.383 373,752 12.518 386,270 Share of governance costs (see note 6} 2,867 2,867 3,307 3,307 348,588 72.662 421,250 377,059 12,518 389,577 Analysis by fund Unreslricled funds Restricted funds 348,588 348,588 72,662 377,059 377,059 12,518 72,662 12.518 348,588 72,262 421,250 377.059 12,518 389,577 The other research project is mainly in relation lo a project 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 2024 Support costs Support costs Governance costs 2024 2023 Audit fees Independent examination fees 8ank charge5 Professional fees 2,000 570 297 2,000 570 297 2,000 560 747 2,867 2,867 3,307 Analysed beeen Charitable activities 2,867 2,867 3,307 Governance costs include £2,000 {2023.. £2,000) in relation to accountancy fees payable to the independent examiner. These seNices were donated by the independent examiner and hence are included within voluntary Income. Trustses None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. A close family member of a Iruslee was remunerated for adminislraliv& seNic&s provided in the year lolalling £15,000 {2023'. £15,000). Employees The average monthly number employees during the year was.. 2024 Number 2023 Number Management Employment costs 2024 2023 Wages and salaries So¢ial se¢urily ¢osls Other pension costs 69,690 1,816 1.321 65.524 1,690 1,289 72,827 68,503 No employees had annual remuneration of £60.000 or more. Action Against Cancer is currenlly funding a number of PhD sludentships and fellowships at Imperial College London, the University of Sussex and Anglia Ruskin University Cambridge lo support the research work. 17-
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent thal these are applied to ils charitable objects. 10 Debtors 2024 2023 Amounts falling due within one year: Prepayments and accrued income 436 436 11 Creditors: amounts falling due withln one year 2024 2023 Trade creditors Other creditors 65.762 1,820 51,728 1,913 67.582 53,641 12 Restrlcted fund8 The restricted funds of the charity Comprise the unexpended balancès of donations and grants held on trust subject lo specific conditions by donors as lo how they may be used. Movement in funds Incomg Expendltuie Balanco at 1 October 2023 Movement in funds Income Expèndllure Balanco at 1 O¢lober 2022 Balancè at 30 Soptombor 2024 ARU Laboratory Cancer stem cells research Breast Cancer research Genetic switches 95,967 95,967 331,159 166,3041 360,822 12.277 18,2881 14,2301 3,989 (3,9891 125,7901 (2,3691 4,230 25,790 2,369 12,277 100,197 (12.5181 99,956 359,318 198,4521 380,822 The research work being undertaken is described in detail in the Trustees, Report 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 2024 13 Designated funds Out of the total funds of £2,090,112 available, including unrestricted income, ftjnds have been awarded to approved projects where planned future expenditure over the next tmo years is calculalecl lo be £1,282,220. Of this, £120,811 are reslricled funds and £1,161,409 are unrestricted funds. Designated funds were awarded lo projects within the research themes shown in the table below. Funds desi nated Restricted Unrestricted 164,354 164,354 805.810 805,810 150,649 150,S49 8,208 8,208 32,388 32.388 Pro ramme area Genetic Switches LMTK3 CSC'S UCB Melaslasis 12.8 11.7 ARU Laboralo Total 120,811 1,282,220 120,811 120.811 1,161,409 100.0 14 Analysls of net assets between funds Unrejtricted funds 2024 Restrt¢ted funds 2024 Totsl Unreslricled Restricted funds funds 2023 2023 Total 2024 2023 Fund balancès at 30 September 2024 are represented by., Curienl asselsl(liabililies) 1.729,290 360,822 2,090,112 1,946.859 99.956 2,046,815 1,729.290 360,822 2,090,112 1.946,859 99,956 2.046,815 16 Related party tran8actlons Other than a5 disclosed in note 7. Ihere were no disclosable related party tran5a¢lions during the year (2023 none). 16 Cash absorbed by operations 2024 2023 Surpluslldeficit} for the year 43,297 {136,778) Adjustments for: Investment income recognised in statement of financial activities 174,7951 {42,618) Movements in working capital: Ilncrease) in debtors Increaselldecrease) in creditors 1451 {2,575) 13,941 Cash absorbed by operations (17,557) {182,016} 19-
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED ACTION AGAINST CANCER NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 17 Analysis of changes In net funds The charity had no material debt during the year. -20-