Registered number: 09982274 Charity number: 1167706
SCREW CANCER LIMITED
(A company limited by guarantee) FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
SCREW CANCER LIMITED
(A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Trustees' responsibilities statement | 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 16 |
SCREW CANCER LIMITED
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 29 FEBRUARY 2024
Trustees
Rosie Yeoward Colin Orchard Michael Fitch Claire Jane German Patrick Curtis Green
Company registered number
09982274
Charity registered number
1167706
Registered office
270 Kings Road, London, SW3 5AW
Bankers
NatWest, West End CBC, 2nd Floor, 180 Brompton Road, London, SW3 1HL
Page 1
SCREW CANCER LIMITED
(A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 29 FEBRUARY 2024
The Trustees present their annual report together with the financial statements for the year, 1 March 2023 to 29 February 2024.The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.
Objectives and Activities
a. Policies and objectives
The objective of the charity is to assist in the treatment and care of persons suffering from cancer.
b. Activities for achieving objectives
The principal activity of the charity is to create an individualised app for cancer patients to provide them with important and relevant information in relation to their illness.
Achievements and performance
a. Review of activities
The Trustees have continued work with our health technology development partner IPS throughout the financial year 2023/24 to deliver new content and features as well as social media and marketing support for The Cancer App.
The Trustees and IPS continued to develop and enhance the app’s functionality, user interface and content, incorporating feedback from users and partners and continue to drive additional app use via its comprehensive social media and marketing campaigns.
Partnerships continued to be formed with relevant charities and other potential sponsors to support the charity’s mission of delivering “Help at Hand” by providing The Cancer App for cancer patients, free at the point of use.
Page 2
SCREW CANCER LIMITED
(A company limited by guarantee)
TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 29 FEBRUARY 2024
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
b. Principal risks and uncertainties
The main risk facing the Charity, is if donations were to cease, which would impact on the Charity's ability to meet its objectives. The current risk is not deemed to be significant.
c. Reserves policy
The Trustees have confirmed that the Charity's resources are adequate to fulfil the obligations of the Charity and that the funds are not excessive given the commitments and size of the Charity. The Charity has reserves of £11,099 (2023 - £66,947).
Structure, governance and management
a. Constitution
The company is limited by guarantee governed by its Memorandum and Articles of Association dated 31 May 2016. It is registered as a Charity with the Charity Commission.
The company was incorporated on 2 February 2016. Its company registration number is 09982274.
b. Method of appointment or election of Trustees
The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. The following Trustees have held office during the reporting period: - Mr C Orchard
- Mr M Fitch - Ms C German - Mr P Green - Ms R Yeoward
c. Pay policy for senior staff
No remuneration is paid to the Trustees.
d. Organisational structure and decision making
All decisions are made by the Trustees.
Page 3
SCREW CANCER LIMITED
(A company limited by guarantee)
TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 29 FEBRUARY 2024
Plans for future periods
a. Future developments
The Charity's main activity continues to be the creation of an individualised app for cancer patients to provide them with important and relevant information in relation to their illness. In the post balance sheet period the Charity and IPS, the Cancer App developer, agreed a Memorandum of Understanding dated 30 April 2024 assigning the IP rights of the Cancer App to IPS, who have agreed to take on operational responsibility and support for the Cancer App until at least 30 April 2025.
This report was approved by the Trustees, on 22/07/2024 and signed on their behalf by:
................................................ Michael C Fitch Trustee
Page 4
SCREW CANCER LIMITED
(A company limited by guarantee)
TRUSTEES' RESPONSIBILITIES STATEMENT FOR THE YEAR ENDED 29 FEBRUARY 2024
The Trustees (who are also directors of Screw Cancer for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP;
-
make judgments and accounting estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 5
SCREW CANCER LIMITED
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 29 FEBRUARY 2024
Independent examiner's report to the Trustees of Screw Cancer Limited (the 'company')
I report to the charity Trustees on my examination of the accounts of the company for the year ended 29 February 2024.
This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.
Responsibilities and basis of report
As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:
Dated: 22/07/2024
Scott McCullough FCA
Gordon Street, Belfast, BT1 2LG
Page 6
SCREW CANCER LIMITED
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 29 FEBRUARY 2024
| Unrestricted funds Note 2024 £ Income from: Donations and Legacies 2 33,488 Total income 33,488 Expenditure on: Charitable activities 3,5 37,166 Total expenditure 37,166 Net expenditure before transfers (3,678) Transfers between Funds 9 (52,167) Net expenditure before other recognised gains and losses (55,845) Net movement in funds (55,845) Reconciliation of funds: Total funds brought forward 66,945 Total funds carried forward 11,100 |
Restricted funds 2024 £ - - 52,167 52,167 (52,167) 52,167 - - - - |
Total funds 2024 £ 33,488 33,488 89,333 89,333 (55,845) - (55,845) (55,845) 66,945 11,100 |
Total funds 2023 £ 6,489 6,489 119,919 119,919 (113,430) - (113,430) (113,430) 180,375 66,945 |
|---|---|---|---|
The notes on pages 9 to 16 form part of these financial statements.
Page 7
SCREW CANCER LIMITED (A company limited by guarantee) REGISTERED NUMBER: 09982274
BALANCE SHEET AS AT 29 FEBRUARY 2024
| BALANCE SHEET AS AT 29 FEBRUARY 2024 |
|||||
|---|---|---|---|---|---|
| 29 February | 28 February | ||||
| 2024 | 2023 | ||||
| Note | £ | £ | £ | £ | |
| Current assets | |||||
| Cash at bank and in hand | 37,147 | 76,754 | |||
| Creditors:amounts falling due within one | |||||
| year | 8 | (26,047) | (9,809) | ||
| Net current assets | 11,100 | 66,945 | |||
| Net assets | 11,100 | 66,945 | |||
| Charity Funds | |||||
| Unrestricted funds | 9 | 11,100 | 66,945 | ||
| Total funds | 11,100 | 66,945 |
The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The Trustees consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements were approved and authorised for issue by the Trustees on 22/07/2024 and signed on their behalf, by:
................................................
Michael C Fitch Trustee
The notes on pages 9 to 16 form part of these financial statements.
Page 8
SCREW CANCER LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Screw Cancer Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2 Reconciliation with previous Generally Accepted Accounting Practice
In preparing these accounts, the Trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required.
No restatements were required.
1.3 Company status
The company is a private company limited by guarantee, incorporated in England and Wales with the Company Registration Number 09982274. The registered office is situated at 270 Kings Road, London, SW3 5AW. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
1.4 Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
Page 9
SCREW CANCER LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
1. Accounting policies (continued)
1.5 Income
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
1.6 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.
Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.
Page 10
SCREW CANCER LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
1. Accounting policies (continued)
1.7 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.
1.8 Cash at Bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
1.10 Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
1.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
2. Income from charitable activities
| Unrestricted funds 2024 £ Donations 33,488 Total 2023 6,489 |
Restricted funds 2024 £ - - |
Total funds 2024 £ 33,488 6,489 |
Total funds 2023 £ 6,489 |
|---|---|---|---|
Page 11
SCREW CANCER LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
3. Analysis of expenditure on App Design
| Unrestricted funds 2024 £ Support Costs 10,383 App Design Direct Costs 26,205 36,588 Total 2023 32,911 |
Restricted funds 2024 £ - 52,167 52,167 86,430 |
Total funds 2024 £ 10,383 78,372 88,755 119,341 |
Total funds 2023 £ 13,660 105,681 |
|---|---|---|---|
| 119,341 | |||
4. Support costs
| App Design £ Bank Charges 61 Exchange Loss / (Gain) 3,134 Software Costs 583 Consultancy Costs 1,467 Book-keeping Fees 1,307 Regulatory Return Costs 285 SORP Account Costs 3,546 10,383 Total 2023 13,660 |
Total 2024 £ 61 3,134 583 1,467 1,307 285 3,546 10,383 13,660 |
Total 2023 £ 92 (13,706) 475 22,957 510 474 2,858 13,660 |
|---|---|---|
During the year ended 29 February 2024, the company incurred the following Governance costs:
£ NIL (2023 - £NIL) included within the table above in respect of Direct costs - Activities (Activity 1). £ NIL (2023 - £NIL) included within the table above in respect of Direct costs - Activity 2.
5. Governance costs
| Governance costs | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| funds | funds | funds | funds | |
| 2024 | 2024 | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Governance Independent Examiners' | ||||
| remuneration | 578 | - | 578 | 578 |
Page 12
SCREW CANCER LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
6. Net income/(expenditure)
During the year, no Trustees received any remuneration (2023 - £NIL). During the year, no Trustees received any benefits in kind (2023 - £NIL). During the year, no Trustees received any reimbursement of expenses (2023 - £NIL).
7. Independent Examiners' remuneration
| Independent Examiners' remuneration | ||
|---|---|---|
| Fees payable to the company's independent examiner for the independent examination of the company's annual accounts Creditors: Amounts falling due within one year Creditors Accruals and deferred income |
2024 £ 578 29 February 2024 £ 14,268 11,779 26,047 |
2023 £ 578 |
| 28 February 2023 £ 6,250 3,559 |
||
| 9,809 |
8. Creditors: Amounts falling due within one year
Page 13
SCREW CANCER LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
9. Statement of funds
Statement of funds - current year
| Unrestricted funds Reserves Restricted funds Restricted Funds - all funds Total of funds Statement of funds - prior year General funds Reserves Restricted Funds - all funds Summary of funds - current year General funds Restricted funds |
Balance at 1 March 2023 £ 66,945 - 66,945 Balance at 1 March 2022 £ 180,375 - Balance at 1 March 2023 £ 66,945 - 66,945 |
Income Expenditure £ £ 33,488 (37,166) - (52,167) 33,488 (89,333) Income Expenditure £ £ 6,489 (33,489) - (86,430) Income Expenditure £ £ 33,488 (37,166) - (52,167) 33,488 (89,333) |
Transfers in/out Balance at 29 February 2024 £ £ (52,167) 11,100 52,167 - - 11,100 Transfers in/out Balance at 28 February 2023 £ £ (86,430) 66,945 86,430 - Transfers in/out Balance at 29 February 2024 £ £ (52,167) 11,100 52,167 - - 11,100 |
|---|---|---|---|
Page 14
SCREW CANCER LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
9. Statement of funds (continued)
Summary of funds - prior year
| General funds Restricted funds |
Balance at 1 March 2022 £ 180,375 - 180,375 |
Income Expenditure £ £ 6,489 (33,489) - (86,430) 6,489 (119,919) |
Transfers in/out Balance at 28 February 2023 £ £ (86,430) 66,945 86,430 - - 66,945 |
Transfers in/out Balance at 28 February 2023 £ £ (86,430) 66,945 86,430 - - 66,945 |
|---|---|---|---|---|
| 66,945 |
10. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2024 £ Current assets 37,148 Creditors due within one year (26,048) 11,100 Analysis of net assets between funds - prior year Unrestricted funds 2023 £ Current assets 76,754 Creditors due within one year (9,809) 66,945 |
Restricted funds 2024 £ - - - Restricted funds 2023 £ - - - |
Total funds 2024 £ 37,148 (26,048) 11,100 Total funds 2023 £ 76,754 (9,809) 66,948 |
|
|---|---|---|---|
11. Reconciliation of net movement in funds to net cash flow from operating activities
| Net expenditure for the year (as per Statement of Financial Activities) Adjustment for: Decrease in debtors Increase in creditors Net cash used in operating activities |
2024 £ (55,845) - 16,242 (39,603) |
2023 £ (113,430) 41 4,724 (108,665) |
|---|---|---|
Page 15
SCREW CANCER LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
12. Analysis of cash and cash equivalents
| Analysis of cash and cash equivalents | ||
|---|---|---|
| Cash in hand Total |
2024 £ 37,147 37,147 |
2023 £ 76,754 |
| 76,754 |
13. Related party transactions
The charity contracted UHY Hacker Young Fitch Limited, Chartered Accountants, a company controlled by Michael Fitch, one of the Trustees, to carry out professional services for the charity amounting to £6,299 (2023: £4,894).
14. Post balance sheet events
On 30 April 2024 the Charity entered a Memorandum of Understanding with IPS, the Cancer App developer, transferring the IP of the Cancer App and the operational and financial responsibility for operating it free at the point of use for App users.
Page 16