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||Page|
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|Report ofthe Trustees||
|Report ofthe Independent
Auditors|18|
|Statement
of Financial Activities|23|
|Balance Sheet|24|
|Cashf low Statement|25|
|Notes to the Cashf low Statement|26|
|Notes to the Financial Statements||
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|Trustees|Trustees||||||
|---|---|---|---|---|---|---|
|Mr|SPearson|Chair|||||
|Mr|G Moore|Finance Committee|Chair||||
|Mr|I Sharp||||||
|Dr|C Gaffney|Scientific Committee|Chair||||
|Professor C.|||||||
|Fegan|||||||
|Ms|R Whiting|Hon Legal Advisor|||||
|Ms|C Nicholls||||||
|Mr|C Fegan|Appointed
3 November||2021|||
|Senior Management|||||||
|Ms|A Tate|Chief Executive Officer|||||
|DrL||Head ofResearch and||Science Communication|||
|Campbell|||||||
|Mr|M Bobbett|Head of Finance and|Corporate Services||||
|||Resigned 19December||2021|||
|Mr|R Davies|Head of Income Generation,|||Marketing|and Communications|
|Ms|A Yandall|Head of Finance|||||
|||Appointed
9 May 2022|||||
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||||||2022|2021|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||Funds|Funds|Funds|Funds|
|||Notes|E|||E|
|income and Endowments|||||||
|from|||||||
|Donations
and legacies|||1,442,352|14,892|1,457,244|1,726,2?4|
|Other trading
activities|||695,727|-|695,727|324,408|
|Investment
income|||84,906||84,906|104,967|
|Other income|||1 223||1,223|59,362|
|Total|||2,224,208|14,892|2,239,100|2,215,011|
|Expenditure
on|||||||
|Raising funds|||665,291||665,291|583,814|
|Charitable
activities|||||||
|Research Projects|||1,895,184|26383|1 921,567|892,092|
|Total|||2,560,475|26,383|2,586,858|1,475,906|
|Net gains/(losses)|on|18|19,771||19,771|756,570|
|investments|||||||
|Net (Expenditure)/income|||(316,496)|(11,49I)|(327,987)|1,495,675|
|Reconciliation
of|funds||||||
|Total funds brought|forward||4,959,106|357,011|5,316,117|3,820,442|
|Total funds carried|forward||4,642,610|345,520|4,988,130|5,316,117|
##
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||||||2Q22|2021|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||Funds|Funds|Funds|Funds|
|||Notes|||F|E|
|Fixed Assets|||||||
|Intangible
assets||16||||4,889|
|Tangible assets||17|92,010||92,010|25,752|
|Investments||18|4,865,674||4 865,674|4,801,865|
|Total|||4,957,684||4,95?,684|4,832,536|
|Current Assets|||||||
|Debtors|||645,228||645,228|749,258|
|Cash at bank and in hand|||1,980,215|420,554|2,400,769|3,173,168|
|Total|||2,625,443|420,554|3,045,997|3,922,426|
|Creditors|||||||
|Amounts
falling due within||20|(476,590)|(10,242)|(486,832)|{628,825)|
|one year|||||||
|Net current|assets||2,148,853|410,312|2,559,165|3,293,601|
|Total assets|less current||7,106,537|410,312|7,516,849|8,126,13?|
|liabilities|||||||
|Provision
for|liabilities|22|{2,463,927)|{64,792)|(2,528,719)|(2,810,020)|
|Net Assets|||4,642,610|345,520|4,988,130|5,316,117|
|Funds||23|||||
|Unrestricted|funds||||4,642,610|4,959,106|
|Restricted funds|||||345,520|357,011|
|Total Funds|||||4988,130|5,316,117|
##
|||||2022|2021|
|---|---|---|---|---|---|
||||Notes|||
|Cash flows from operating|activities|||||
|Cash generated
from operations||||(718,514)|104,805|
|interest
paid||||||
|Net cash provided
by operating||activities||718,514|104,805|
|Cash flows from investing|activities|||||
|Purchase of intangible
fixed|assets|||||
|Purchase oftangible
fixed assets
Purchase
offixed asset investments
Sale of intangible
fixed assets||||(94,753)
(1,209,223)|(4,670)
(1,064,361)|
|Sale oftangible
fixed assets||||||
|Sale offixed asset investments||||1,165,185|1,007,471|
|Interest received||||51,120|18,064|
|Dividends
received||||33,786|86,902|
|Net cash (used in)/provided|by investing|||(53,885)|43,406|
|activities||||||
|(Decrease)/Increase
in cash and cash||||(772,399)|148,211|
|equivalents||||||
|Cash and cash equivalents|at 1|April||3,173,168|3024,957|
|Cash and cash equivalents|at|31 March||||
|||||2,400,769|3,1?3,168|
|1. Reconciliation
ofnet incomel ex enditure|1. Reconciliation
ofnet incomel ex enditure|1. Reconciliation
ofnet incomel ex enditure|1. Reconciliation
ofnet incomel ex enditure|to net cash flow from|to net cash flow from|o eratin|
|---|---|---|---|---|---|---|
|activities|||||||
||||||2022|2021|
|||||Notes|F||
|Reconciliation
of net|income/{expenditure)||||(327,987)|1,495,675|
|to net cashflow from|operating||activities||||
|Net income/(expenditure)||for the year (as per|||||
|the statement
offinancial||activities)|||||
|Adjusted for:|||||||
|Depreciation
charges|||||30,984|12,242|
|(Gain)/Loss
on investments|||||(19,771)|(786,038)|
|Loss on disposal offixed assets|||||2,430||
|Interest received|||||(51,120)|(18,064)|
|Interest paid|||||||
|Dividends
received|||||(33,786)|(86,902)|
|Discounting
of provisions||||||29,468|
|Dilapidation's
provision|||||48,500||
|Decrease/(increase)
in|debtors||||104,030|(240,484)|
|(Decrease)/increase
in|creditors||||~471,794|~301,092|
|Net cash provided
by|operations||||718,514|104,805|
|Analysis ofchanges|in net funds||||||
|||||At|Gashflow|At|
|||||1 April||31 March|
|||||2021||2022|
|Net cash|||||||
|Cash at bank and in hand||||3,173,168|(772,399)|2,400,769|
|Total||||3,173,166|~772,399|2,400 769|
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||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|Total|
||||||Funds|Funds|Funds|Funds|
|Donations|||||176,851|14,892|191,743|222,849|
|Trusts|||||2,550||2,550|13,600|
|Legacies|||||1,154,451||1,154,451|1,288,677|
|Grants|||||108,500||108,500|140,000|
|Donated services||and||||||2,969|
|facilities|||||||||
|Welsh Government|||job|||||58,179|
|retention
scheme|||||||||
|Total|||||1,442,352|14,892|1,457,244|1,726,274|
|Grants received|included|||in|||||
|the above are as|follows:||||||||
|Cardiff Council||||||||95,000|
|Rhondda
Cynon|Taff County|||||||45,000|
|Borough Council|||||||||
|Public Health Wales|||NHS||||50,000||
|Trust|||||||||
|Bristol-Meyer Squib|||||||57,500||
|Pharmaceuticals|||||||||
|Wales Cancer Network|||||||1,000||
|Total|||||||108,500|140,000|
|. Other tradin||activities|||||||
||||||||2022|2021|
|Fundraising|||||||285,126|242,238|
|Retail income|||||||410,601|82,170|
|Total|||||||695,727|324,408|
##
##
|||2022|2021|
|---|---|---|---|
|Income from shares|in listed|33,786|86,903|
|companies||||
|Interest receivable|and similar|51,120|18,064|
|income||||
|Total||84,906|104,967|
##
|. Other I|nco|me|||
|---|---|---|---|---|
||||2022|2021|
|||||E|
|Discounting|of|provisions||(29,468)|
|Insurance|claim|||85,830|
|Miscellaneous||income|53|3,000|
|Royalties|||1,170||
|Total|||1,223|59,362|
##
|7. Raisin|Funds||||
|---|---|---|---|---|
||||2022|2021|
||||Total|Total|
||||Funds|Funds|
|||||E|
|Raising donations||and|||
|legacies|||||
|Fundraising|staff costs||208,035|211,940|
|Gift aid and|legacy expenses||8,722|3,513|
|Events and|general||7,433|11,002|
|fundraising|expenditure||||
|Advertising|and publicity||2,900|928|
|Other fundraising
expenses|||37,640|6,180|
|Depreciation||||412|
|Total|||264 730|233975|
|Other trading activities|||||
|Retail staff costs|||178,467|151,434|
|Retail purchases|||1,032|920|
|Retail premise costs|||102,223|131,348|
|Other retails|costs||61,949|24,301|
|Merchandise|purchases||4,148|3,985|
|Dilapidations|||'l,848||
|Depreciation|||15,340|7,255|
|Loss on sale ofassets|||2,430||
|Total|||367,437|319,243|
##
|Investment
costs|management|||
|---|---|---|---|
|Investment|management|33,124|30,596|
|costs||||
|Total||33,124|30,596|
|Total raising funds||665,291|583,814|
##
##
|8. Charitable|Activities co|sts|||||
|---|---|---|---|---|---|---|
||||Research|2022|Research|2021|
||||Projects||Projects||
|||Note|||||
|Direct costs||9|246,50?|246,507|126,302|126,302|
|Grant funding|of activities|10|1,020,907|1,020,907|456,287|456,287|
|Support costs||11|654,153|654,153|309503|309503|
|Total|||1,921,567|1,921,567|892,092|892,092|
##
##
|||Research|2022|Research|2021|
|---|---|---|---|---|---|
|||Projects||Projects||
|Staff costs||134,454|134,454|96,568|96,568|
|Direct cancer research|expenditure|7,127|7,127|20,740|20,740|
|Science communication|costs|104,?23|104,723|8,719|8,719|
|Depreciation||203|203|275|275|
|Total||246,507|246,507|126,302|126,302|
##
|||||2022|2021|
|---|---|---|---|---|---|
|Research|projects|||1 020907|456,287|
|The total|grants paid to institutions||during the year|||
|was as follows:||||||
|Velindre|NHS Trust|||124,175|147,731|
|Cardiff University||||462,604|266,132|
|Bangor University||||6,016|47,000|
|Swansea|University|||456,674||
|Grant underspends||written||(28,562)|(4,576)|
|back||||||
|Total||||1,020,907|456,287|
##
||||Research|2022|Research|2021|
|---|---|---|---|---|---|---|
||||projects||projects||
||||||E||
|Staff costs|||272,751|272,751|243,109|243,109|
|Depreciation
Other|||15,441
116,814|15,441
116,814|4,300
56,749|4,300
56,749|
|Branding|||78,196|78,196|||
|Website|Development||29,004|29,004|||
|ITcosts|||60,824|60,824|||
|Human|Resources||75,293|75,293|435|435|
|Governance||costs|5,830|5,830|4,910|4,910|
|Total|||654,153|654,153|309,503|309,503|
##
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##
|13. Staff Costs||||||
|---|---|---|---|---|---|
|||||2022|2021|
|Wages and salaries||||674,879|575,617|
|Redundancy
costs||||8,000|23,855|
|Social security||||52,052|52,819|
|Pension||||58,776|50,?60|
|Total||||793,?07|703,051|
|The average
monthly|number ofemployees||during|||
|the year was as follows:||||||
|||||2022|2021|
|||||No.|No.|
|Science 8 Policy||||3|3|
|Fundraising||||6|5|
|Retail||||5|7|
|Admin/Governance||||4|4|
|Total||||23|19|
|The number
ofemployees||whose emoluments||||
|amounted
to a rate of|over|f60,000 during|the year|||
|were as follows:||||||
|||||2022|2021|
|||||No.|No.|
|f60,001 —870,000||||1|1|
|Pension contributions||||F9,236|89,100|
##
|14. Com
arative|s for the Stat|ement of Financia|l Activities||
|---|---|---|---|---|
|||||2021|
|||Unrestricted|Restricted|Total|
|||Funds|Funds|Funds|
||||E||
|income and Endowments|||||
|from|||||
|Donations
and legacies||1,726,274||1,726,274|
|Other trading
activities||324,408||324,408|
|investment
income||104,967||104,967|
|Other income||59,362||59,362|
|Total||2,215,011||2,215,011|
|Expenditure
on|||||
|Raising funds||583,814||583,814|
|Charitable
activities|||||
|Research Projects||883,695|8,397|892,092|
|Total||1,46?,509||1,4?5,906|
|Net gains/(tosses)|on|756,570||756,570|
|investments|||||
|Net (Expenditure)/Income||1,504,072|8,397|1,495,675|
|Reconciliation
offunds|||||
|Total funds brought|forward|3,455,034|365,408|3,820,442|
|Total funds carried forward||4,959,106|357,011|5,316,117|
##
||Computer|
|---|---|
||software|
|Cost||
|At beginning
ofyear|14,922|
|Additions
during year||
|Disposals
during year||
|At end ofyear|14,922|
|Depreciation||
|At beginning
ofyear|10,033|
|Charge for year|4,889|
|At end ofyear|14,922|
|Net book value||
|At end ofyear||
|At beginning
ofyear|4,889|
##
|||Leasehold|Fixtures 8|Motor|2022|
|---|---|---|---|---|---|
|||property|equipment|vehicles||
|||investments||||
||||||Total|
||||||F|
|Cost||||||
|At beginning
of|year|107,771|37,897|20,216|165,884|
|Additions
during|year|61,545|33,208|-|94,753|
|Disposals
during year||1,918|5,142|-|7,060|
|At end ofyear||167,398|65,963|20216|253,577|
|Depreciation||||||
|At begInning
of|year|99,998|21,953|'l8,151|140,102|
|Charge for year||11,306|13,485|1,304|26,095|
|Depreciation
on||||||
|disposals|||4,630||4630|
|At end ofyear||111,304|30,808|19,455|161567|
|Net book value||||||
|At end ofyear||56,094|35,155|761|92,010|
|At beginning
ofyear||7,773|'l5 944|2 065|25,782|
##
##
##
|||||2022|2021|
|---|---|---|---|---|---|
|Historical|cost of|investments||3,590,880|3,586,443|
|Analysis|ofinvestments||between funds. "|2022|2021|
|Listed investments
UK cash held as||part of|portfolio|4,800,482
65,192|4,780,526
21,339|
|||||4,865,674|4,801,865|
|Cost or valuation||at 31|Ilarch 2022 is|2022||
|represented
by:||||||
|Cost||||3,590,880||
|Valuation|in 2020|—Net Gain||433,261||
|Valuation|in 2021|—Net Gain||756,570||
|Valuation|in 2022|—Net Gain||19,771||
|||||4,800,482||
##
##
|19.Debtors:|Amounts
fallin
due within one|ear||
|---|---|---|---|
|||2022|2021|
|Other debtors||10,362|71,540|
|Legacies due||608,411|569,725|
|VAT||||
|Prepayments|and accrued income|26,455|107,993|
|Total||645,228|749,258|
##
|20.Creditors:|Amou|nts|fallin
due within on|e
ear||
|---|---|---|---|---|---|
|||||2022|2021|
|VAT||||30,847|5,918|
|Social security|and other||taxes||13,223|
|Project funding|payments||due|276,543|279,081|
|Other creditors||||81,163|150,346|
|Accruals and deferred||income||98,279|180257|
|Total||||486,832|628,825|
||||2022|2021|
|---|---|---|---|---|
|Deferred|income brought forward||134,396||
|Released|to SOFA||(107,500)||
|Additional|income deferred|in the year|37,055|134396|
||||63,951|134,396|
##
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|Minimum
lease payments
under non-cancellable
|operating
leases fall due as follo|ws:|
|---|---|---|
||2022|2021|
|VVithin one year|102,750|59,000|
|Between one and five years|215,210|26,625|
|Total|317,960|85,625|
##
|2. Provision for liabilities||||
|---|---|---|---|
|||2022|2021|
|Project grant commitments||2,402,007|2,659,024|
|Dilapidation's
provision||126,712|150996|
|Total||2,528,719|2,810,020|
|project grant commitments:||||
|Balance at 1 April 2021||2,659,024||
|Grants payable:||1,020,907||
|New project grant commitments|1,049,469|||
|Grant underspend
written|(28,562)|||
|back||||
|Grants payable
in the year||(1,277,924)||
|Discounting
of provisions||||
|Balance at 31 March 2022||2,402,007||
##
|||||||At 1 April|Net|At 31|
|---|---|---|---|---|---|---|---|---|
|||||||2021|movement|March|
||||||||in funds|2022|
|||||||F|||
|Unrestricted
funds|||||||||
|General fund||||||4,959,1Q6|(316,496)|4,642,610|
|Total||||||4,959,1Q6|316,496|4 642,610|
|Restricted funds:|||||||||
|Brain Tumour|scholarship|||||150,000||150,000|
|Bowel cancer|research||fund|||61,920||61,920|
|Tom Walker Fund —Acute Myeloid||||||100,000|(26,383)|73,617|
|Leukaemia|||||||||
|Tom VValker Fund -||unallocated||||37,591|14,892|52,483|
|Millennium
Stadium||charitable||trust||7,500||7,500|
|Total||||||357011|11491|345520|
|Total Funds||||||5,316,117|327,987|4,988,310|
|Net movement|in funds, included||||Incoming|Resources|Gains and|Movement|
|in the above are as follows:|||||resources|expended|losses|in funds|
|Unrestricted
funds|||||||||
|General
fund|||||2,224,208|2,560475|19,771|316,496|
|Total|||||2,224,208|2,560,475|19,771|316496|
|Restricted funds. "|||||||||
|Brain Tumour|scholarship||||||||
|Bowel cancer|research||fund||||||
|Tom Walker Fund|||||14,892|(26,383)||(11,491)|
|Millennium
Stadium|||||||||
|charitable
trust|||||||||
|Total|||||14892|26383||11,491|
|Total Funds|||||2,239,100|2,586,858|19,771|327,987|
##
|Comparative
move|men|t
in F|unds|||||
|---|---|---|---|---|---|---|---|
||||||At 1 April|Net|At 31|
||||||2020|movement|Ilarch|
|||||||in funds|2021|
|Unrestricted
funds||||||||
|General fund|||||3,455,034|1,504,072|4,959,106|
|Total|||||3,455,034|1,504,072|4,959,106|
|Restricted funds:||||||||
|Brain Tumour scholarship|||||150,000||150,000|
|Bowel cancer research||fund|||61,920||61,920|
|Tom Walker Fund|||||145,988|(8,397)|137,591|
|Millennium
Stadium|charitable||trust||7,500||7,500|
|Total|||||365,408|8,397|357,011|
|Total Funds|||||3,820442|1,495675|5,316,117|
|Comparative
net movement|||in|Incoming|Resources|Gains and|Movement|
|funds, included
in|the|above|are|resources|expended|losses|in funds|
|as follows:||||||||
|Unrestricted
funds||||||||
|General fund||||2,215,011|1,467,509|?56,570|1 504 072|
|Total||||2,215,011|1,467,509|756,570|1,504,072|
|Restricted funds:||||||||
|Brain Tumour scholarship||||||||
|Bowel cancer research||fund||||||
|Tom Walker Fund —Acute|||||(8,397)||(8,397)|
|Myeloid Leukaemia||||||||
|Millennium
Stadium||||||||
|Charitable
Trust||||||||
|Total|||||8,397||8,397|
|Total Funds||||2,215,011|1,475,906|756,570|1,495,675|
##
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