2023-03-31-accounts - Cancer Research Wales

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		Page
Report ofthe Trustees	1	to	9
Report ofthe Independent Auditors	10	to	12
Statement ofFinancial Activities		13
Balance Sheet		14
Cash Flow Statement		15
Notes to the Cash Flow Statement		16
Notes to the Financial Statements	17	to	30

					2023	2022
			Unrestricted	Restricted	Total	Total
			fund	funds	funds	funds
		Notes			F.
INCOME AND ENDOWMENTS	FROM
Donations and legacies		3	2,177,911	241,123	2,419,034	1,457,244
Other trading activities Investment income Other income		4 5 6	1,198818 80,131 68 832		1,198,818 80,131 68,832	695,727 84,906 1 223
Total			3,525692	24'I,123	3,766,815	2,239,100
EXPENDITURE ON
Raising funds		7	1,054,164		1,054,164	665,291
Charitable activities
Library funding
Research projects			2,926270	53,115	29793~5	1 921,567
Total			3,980434	53,115	4,033,549	2,586,858
Net gains/(losses) on investments			~867,5)2)		~364,5)2)	19771
NET INCOME/(EXPENDITURE) Transfers between funds		23	(816,254) 187440	188,008 ~187440)	(628,246)	(327,987)
Net movement in funds			(628,814)	568	(628,246)	(327,987)
RECONCILIATION OF FUNDS
Total funds brought forward			4,642,610	345,520	4,988,130	5,316,117
TOTAL FUNDS CARRIED FORWARD			4 013796	346,088	4 359,864	4,988,130

				2023	2022
		Unrestricted	Restricted	Total	Total
	Notes	fund f	funds f	funds f	fundsf
FIXEDASSETS
Tangible assets	17	95,975		95,975	92,010
Investments	16	4 54'1 549		4,541,549	4 865 674
		4,637,524		4,637,524	4.957,684
CURRENT ASSETS
Debtors	19	986,904		986,904	645,228
Cash al bank and in hand		2 792 10?	34608S	3,138195	2,400,769
		3,779,011	346,088	4,125,099	3,045,997
CREDITORS
Amounts falling due within one year	20	(548,057)		(548,057)	(486,832)
NET CLIRRENT ASSETS		3,230954	346 088	3,577,042	2 559,165
TOTAL ASSETSLESSCURRENT	LIABILITIES	7,868,478	346,088	&,214,566	7,516,849
PROVISIONS FOR LIABILITIES	22	(3,854,682)		(3,854,682)	(2,528,719)
NET ASSETS		4,013798	346,088	4 359884	4988130
FUNDS	23
Unrestricted funds				4,013,796	4,642,610
Resiricted funds				346,088	345 520
TOTAL FUNDS				4 359884	4 988,130

		2023	2022
	Notes	8
Cash flows from operating activities
Cash generated from operations	a)	737416	~718514)
Net cash provided by/(used in) operating	activities	737416	~718514)
Cash flows from investing activities
Purchase oftangible fixed assets Purchase offixed asset investments Sale offixed asset investments Interest recewed Dividends received		(42,734) (1,086,474) 1,049,087 15,040 65,091	(94,753) (1,209,223) 1,165,185 51,120 33,786
Net cash provided by/(used In) investing	activities	10	~53885)
Change in cash and cash equivalents	in
the reporting period Cash and cash equivalents at the		737,426	(772,399)
beginning ofthe reporting period		2400769	3,173168
Cash and cash equivatents at the end	of
the reporting period		3 138,195	2,400769

a)	RECONCILIAT[ON	OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING	OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING	OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING	OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING	OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING	OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING	OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING
	ACTIVITIES
								2023	2022
								E	E
	Net expenditure for the reporting				period (as per the	Statement of
	Financial Activities)							(628,246)	(327,987)
	Adjustments for.
	Depreciation charges							38,769	30,984
	Losses/(gain) on investments							361,512	(19,771)
	Loss on disposal offixed assets								2,430
	interest received							(15,040)	(51,120)
	Dividends received							(65,091)	(33,786)
	Discounting ofprovisions							(66,735)
	Dilapidations provision							102,376	48,500
	(increase)/decrease Increase/(decrease)	in debtors in creditors						(341,676) 1 351,547	104,030 ~471794I
	Net cash provided	by/(used		in) operations				737416	~18 5444
b)	ANALYSIS OF CHANGES		IN	NET	FUNDS
						AI	1/4/22	Cash flow	At 31/3/23
							E	F	6
	Net cash
	Cash at bank and in	hand				2,400769		737426	3,138195
						2,400 769		737426	3,'138,195
	Total					2,400,769		737,426	3,139195

DONATIONS	AND	LEGA	CIES
				2023	2022f
Donations				258,484	191,743
Trusts				2,600	2,550
Legacies				1,990,037	1,154,451
Grants				167,913	108,500
				2419,894	1457244
Grants received, included			In the above, are as follows;
				2023f	2022
Bristol Meyers	Squibb Pharmaceuticals				57,500
Public Health Wales NHS			Trust		50,000
Wales Cancer	Network				1,000
UK Government	COVID Medical Research Support Fund			167,913
				167,913	108,500
OTHER TRADING		ACTIVITIES
				2023f	2022f
Fundraislng				475,820	285,126
Retail income				722,998	4111M1
				1,198,818	895,727
INVESTMENT	INCOME
				2023	2022
				F
Income from shares		in listed companies		65,091	33,786
Interest receivable		and simiiar income		15,040	51,120
				80 131	84,906

			2023 f	2022
Discounting of provisions			66,735
Insurance claim
Miscellaneous income Royalties			1,797 300	53 1 170
			68 832	1,223
RAISING FUNDS
Raising donations and legacies
			2023	2022
			f	f
Fundraising staff costs Gift aid and legacy expenses Events and general fundraising Advertising and publicity Other fundraising expenses	expenditure		224,396 11,214 86,515 12,162	208,035 8,722 7,433 2,900 37640
			334,287	264,730
Other trading activities
			2023 f	2022f
Retail staff costs Retail purchases Retail and warehouse premises Other retai( costs Merchandise purchases including Dilapidations Depreciation Loss on sale ofassets	costs Christmas	cards	319,328 1,2?6 171,605 62,153 6,217 102,376 26,346	178,467 1,032 102,223 61,949 4,148 1,848 15,340 2,430
			689,301	367,437

8.	CHARITABLE A	CTIVI	TIE	S COS	TS
								Grant
								funding	of
							Direct	activities		Support
							Costs (see	(see note		costs (see
							note 9) E	10) 6		note 11) f	Totats
	Research projects						166,922	2,186,327		626,136	2,979,388
9.	DIRECT COSTS	OF CHARITABLE ACTIVITIES
										2023	2022
										E	E
	Staff costs									131,123	134,454
	Direct cancer research		expenditure							17,567	7.127
	Science communication		costs							18,232	104,723
	Depreciation										203
										~166922	~246 507
10.	GRANTS PAYABLE
										2023	2022
											E
	Research projects									2,1&6327	1,020,907
										2,186327	1 020907
	The total grants paid to Institutions				during	the year	was as follows:
										2023	2022
										E
	Velindre NHS Trust										124,175
	Cardiff University									637,601	462,604
	Swansea University									347,813	456,674
	Bangor University									1,130,413	6,016
	Other adjustments	on project ciosures									(28,562)
	Wales Cancer Network									20,000
	Betsi Cadwaladr	University		Health	Board					50,500
										2,186,327	1,020,907

					2023 f	2022 F
Wages and salaries Redundancy costs Social security costs Pension					828,533 70,664 66029	674,879 8,000 52,052 55776
					965,226	793 7If7
The average	monthly	number ofemployees	during	the year was as follows:
					2023	2022
Science 8 Policy					2	3
Fundraising					7	6
Retail					15	10
Administration/	Governance				5	4
					29	23

		2023	2022
f60,001	- f70,000	No. 1	No.
Pension	contributions	7,465	9,236

COMPARATIVES FOR THE	COMPARATIVES FOR THE	STATEMENT OF FINANCIAL ACTIVITIES	STATEMENT OF FINANCIAL ACTIVITIES	STATEMENT OF FINANCIAL ACTIVITIES	STATEMENT OF FINANCIAL ACTIVITIES	STATEMENT OF FINANCIAL ACTIVITIES	STATEMENT OF FINANCIAL ACTIVITIES
						Unrestricted		Restricted	Total
							fund	funds	funds
								6
INCOME AND ENDOWMENTS			FROM
Donations and legacies						1,442,352		14,892	1,457,244
Other trading activities							695,727		695,727
Investment income							84,906		84,906
Other income							1,223		1 223
Total						2,224 208		14592	2 239100
EXPENDITURE ON
Raising funds							665,29'I		665,291
Charitable activities
Research projects						1,895,184		26 383	1,921 567
Total						2,560,475		26,383	2,586658
Net gains on investments							19,771		19,771
NET INCOME/(EXPENDITURE)						(316,496)		(11,491)	(327,987)
RECONCILIATION OF FUNDS
Total f'unds brought forward						4,959,106		357,011	5,316,117
TOTAL FUNDS CARRIED	FORWARD					4	642 610	345520	4,988,130
FINANCIAL INSTRUMENTS
								2023	2022
Financial assets								E
Financial assets that are debt		instruments		measured	al amortised	cost		4,056,266	3,019,542
Financial assets measured	at	fair value						4541 549	4865674
								2023	2022
Financlaf liabilities								E	E
Financial liabilities measured		at amortised		cost				524,544	392,034
Financial liabilities measured		at fair value						3854,682	2528,719

INTANGIBLE FIXEDASSETS
	Compuler
	soAware
COST
At 1 April 2022 and 31 March 2023
AMORT(SATION
At 1 April 2022 and 31 March 2023	14922
NET BOOK VALUE
At 31 March 2023

TANGIBLE FIXEDASSETS
	Leasehold
	property	Fixtures	Motor
COST	Improvements f	8 Equipment 6	vehicles	Totals E
At 1 Apnq 2022 Additions	167,398 24,052	65,963 '(8,682	20,216	253,577 42,734
At 31 March 2023	191,450	84,645	20,2'i6	~296311
DEPRECIATION
At 1 Apri( 2022 Charge for year	111,304 ~23647	30,808 14,931	19,455 191	161,567 ~38769
At 31 March 2023	~134951	~45 739	~19646	~200336
NET BOOK VALUE
At 31 March 2023	56,499	38,906	570	~95 975
At 31 March 2022	56094	35,155	761	~92 010

18.	FIXEDA	SS	ET I	NVEST	MENTS
								Investments
	MARKET VALUE
	At 1 April	2022						4,865,674
	Additions							1,086,474
	Disposals Revaluations							(1,049,087) ~361 5127
	At 31 March		2023					4,541 549
	NET BOOK VALUE
	At 31 March		2023					4541 549
	At 31 March		2022					4 865,874
							2023	2022
	Historical	cost of		investments			3,393,048	3,590880
	Analysis	ofinvestments			between funds:
							2023	2022
								6
	Listed investments						4,508,193	4,800,481
	UK cash	held	as part ofportfolio				33356	65 193
							4,541,549	4,865,674
	Cost or valuation			at 31 March 2023 is represented		by:
								investments
								E
	Valuation	in 2020						733,672
	Valuation	in 2021						756,570
	Valuation	in 2022						19,771
	Valuation	in 2023						(361,512)
	Cost							3.393048
								4541 549
19.	DEBTORS:AMOUNTS				FALLING DUE WITHIN	ONE YEAR
							2023	2022
							f	F
	Other debtors						58,803	10,362
	Legacies	due					809,278	608,411
	VAT						1,365
	Prepayments		and	accrued income			117,458	26,455
							986,904	645,228

		2023	2022
			F
VAT payable Project funding payments due Other creditors Accruals and deferred income		416,671 82,199 ~49 187	30,847 276,543 81,163 ~98279
		~548057	486,832
Included within accruals and deferred income lo income received in advance for campaigns	above is deferred and events taking	income ofF23,515(2022:263,951).This relates place in the next financial year.

lo income received in adv	a	nd events taking place in the next fin	ancial year.
			2023	2022
			F	f
Deferred income brought forward Released to SOFA Additional income deferred in the year			63,951 (63,951) 23,515	134,396 (107,500) 37500
			23515	63 951
LEASING AGREEMENTS
Minimum lease payments	under non-cancellabte	operating leases fali due as follows:
			2023	2022
			E
Within one year Between one and five years			96,148 I60,130	102,750 215,210
			256,278	317,960

PROVISIONS FOR LIABILITIES
	2023	2022
	f.	E
project grant commitments Dilapidations provision	3,625,594 229 088	2,402,007 126712
	3854,682	2,528,719
		project grant
		commitments
		F
Balance at 1 April 2022 New project grant commitments Grants payable in the year Grant underspend written back Discounting of provisions		2,402,007 2,186,327 (896,005) ~66 7357
Balance at 31 IVlarch 2023		3,625,594

MOVEMENT IN FU	NDS
							Net	Transfers
							movement	between	At
						At 1/4/22	in funds	funds	31/3/23
						E	f	F
Unrestricted funds
General fund						4,642,610	(816,254)	187,440	4,013,796
Restricted funds
Brain Tumour Scholarship						150,000		(150,000)
Eiowel Cancer Research		Fund				61,920		(61,920)
Tom Walker Fund -	Acute		Myeioid
Leukaemia						73,617	(38,115)		35,502
Millennium Stadium	Charitable			Trust		7,500	(7,500)
Tom Walker Fund -	Brain		Tumour			52,483	23,210	16,980	92,673
Nicholas Roe - Leukaemia			Project				50,000		50,000
UK Government COVID		Medicat			Research
Support Fund Waterloo Foundation							167,913 ~500)	7,500	167,913
						345,520	188,008	~)87,440)	346 088
TOTAL FUNDS						4,986'130	~628,246)		4 359884
Net movement in funds,		included			in the above are as follows:
						Incoming	Resources	Gains and	Movement
						resources	expended	losses	in funds
								8
Unrestricted funds
General fund						3,525,692	(3,980,434)	(361,512)	(816,254)
Restricted funds
Tom Walker Fund -	Acute		Myeloid
Leukaemia							(38,115)		(38,115)
Millennium Stadium	Charitable			Trust			(7,500)		(7,500)
Tom Walker Fund -	Brain		Tumour			23,210			23,210
Nicholas Roe - Leukaemia			Project			50,000			50,000
UK Government COVID		Medical Research
Support Fund Waterloo Foundation						167,913	~7500)		167,913 ~7500)
						24'1,123	~63115)		158008
TOTALFUNDS						3,766,815	~4033 549)	~361,512)	~628 246)