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2022-12-31-accounts

Registered number: 07682372 Charity number: 1171827

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 7
Independent auditors' report on the financial statements 8 - 11
Statement of financial activities 12
Balance sheet 13 - 14
Statement of cash flows 15
Notes to the financial statements 16 - 33

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022

Trustees C. Ambrogio (appointed 21 June 2022)
A. Bardelli
R. Bernards
H. M. F. Blaudin De The
C. Caldas
A. Carracedo
C. Dive
N. Erez (appointed 21 June 2022)
E. Lianidou
N. Lopez Bigas
E. Oricchio
Y. R. Samuels
J. Seoane
M. S. Soengas Gonzalez (appointed 21 June 2022)
A. Trumpp
J. K. Westermarck (appointed 21 June 2022)
V. Costanzo (resigned 21 June 2022)
R. Palmer (resigned 21 June 2022)
D. S. Peeper (resigned 21 June 2022)
Company registered
number
07682372
Charity registered
number
1171827
Registered office
Sir Colin Campbell Building
University of Nottingham Innovation Park
Triumph Road
Nottingham
NG7 2TU
Company secretary
J Smith
Independent auditors
PKF Smith Cooper Audit Limited
Statutory Auditors
2 Lace Market Square
Nottingham
NG1 1PB
Senior management
team
J Smith, Chief Executive Officer (CEO)

Page 1

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the audited financial statements of the European Association for Cancer Research (EACR) (the Charity) for the year 1 January 2022 to 31 December 2022. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the Charity comply with the current statutory requirements, the requirements of the Charity'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 (FRS102) (effective 1 January 2019).

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

The object of the Association is the advancement of cancer research, for the public benefit, from basic research to prevention treatment and care.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. In particular, the Trustees consider how planned activities will contribute to the aim and objectives they have set.

The object of the EACR is the advancement of cancer research, for the public benefit, from basic research to prevention treatment and care. This is achieved by increasing the knowledge of researchers and professionals and fostering greater collaboration amongst those working in the cancer fields, with a view to increasing cancer survival rates and improving treatments for patients.

The Association provides a wide variety of services to its community of members, organises scientific meetings and events, and facilitates communication and collaboration. It also sets out to raise the profile of cancer research in Europe and the need for sustained political and economic support

b. Strategies for achieving objectives

The EACR galvanises excellence in multidisciplinary cancer research by:

c. Activities undertaken to achieve objectives

The EACR supports its members to make progress in researching new ways to prevent, detect and treat cancer by providing education, information, networking and funding opportunities. It also provides information to the public via a free email bulletin and through its website and digital magazine, and seeks to join with like-minded organisations to make the case for sustained political and economic support for cancer research throughout Europe.

By supporting cancer researchers in this way, the Association will achieve its purpose of making progress in the fight against cancer, for the benefit of the public.

Page 2

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Achievements and performance

a. Review of activities

During 2022, the Board focused on priorities identified in the Strategic Plan 2022 – 2023. This short-term plan was designed to steer the organisation through immediate post-pandemic period. A new, longer-term plan is currently in development. The Board continued to seek advice from its Advisory Council on strategic matters; the Council met in March 2022 and considered, inter alia, the likely the EACR’s international relationships and strategies for recruiting and retaining members.

In 2022, staffing numbers grew, in line with the Board’s plans for investment and increase in activities. A Scientific Officer was recruited to bring scientific expertise to the staff team. The Communications and Marketing and Membership teams were also expanded.

As travel restrictions associated with the pandemic were eased, the EACR was able to offer some in-person conferences, whilst continuing to deliver some conferences and webinars online. In June 2022, a hugely successful in-person congress was held in Seville, Spain. This was the first in-person congress since 2018 and was warmly welcomed by members.

The Travel Fellowship scheme, which was paused in 2020 in response to the restrictions on travel, was reopened in late 2021 and a surge in applications was experienced in 2022. 53 applications were reviewed throughout the year, with 21 being awarded funding. In 2022 we also made our first award of a Postdoctoral Fellowship, funded by AstraZeneca, giving an EACR early career member the funding to undertake a 3-year cancer research project.

The EACR responded quickly to the war in Ukraine, setting up a programme to offer funding for displaced researchers for travel, accommodation, and subsistence to enable them to take up short-term placements in labs around the world. This kind of short-term placement could give a researcher from Ukraine time and safety in which to plan their next move or apply for other roles.

Members and the wider public were kept up to date on activities, news and events in the cancer research community via the fortnightly email bulletin, the EACR website and the digital magazine, The Cancer Researcher. Member numbers grew by 8% in 2022 and feedback from the annual member survey was very positive.

b. Key management personnel remuneration

All employed staff are appointed to roles which are matched to the University of Nottingham administrative staff salary scale. Terms and conditions of employment also match those of the University, reflecting the EACR’s past association with the University. There is an annual appraisal process, with salary uplifts linked to performance. The CEO’s performance is reviewed by the Executive Committee.

Page 3

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Financial review

a. Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the Charity 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. Reserves policy

At its October 2022 meeting, the Board reviewed its reserves policy, in the light of the increased staff headcount and the better than budgeted financial position. The policy suggests that in the long-term, the EACR should hold reserves between €444,000 and €729,000. Reserves are currently significantly higher than this, but the Board agreed these should be reduced slowly over time, while the organisation continues to weather the post-pandemic position.

c. Principal risks and uncertainties

The Board continued to keep the EACR’s financial position under close review in 2022. The risk register was reviewed in January and October 2022. In October, some of the risks associated with the pandemic were downgraded from high to medium. Two new risks were identified for inclusion:

The major risk remains the poor performance of an annual congress, or the need to cancel a congress, as the charity relies on the congress for a significant proportion of its income. However, the strategy to diversify income is reducing the reliance on this single event, and therefore reducing the risk over time.

d. Financial risk management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. The Risks Register is reviewed and updated at least twice each year.

e. Principal funding

The EACR receives funds from grants and donations, partnership agreements, membership fees, conference attendance fees, sponsorship and advertising.

f. Fundraising

The EACR encourages its members to fundraise through ‘give as you shop’ schemes such as AmazonSmile (which will come to an end in 2023). It does not employ professional fundraisers. The public are invited to donate to the EACR through a link on the website to the EACR’s JustGiving page.

Page 4

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

g. 2022 review and closing position

Despite planning for a reduction in reserves, a surplus against budget was recorded in 2022, leading to a net increase in funds of £137,609. This increase in funds was due to better than budgeted income from:

and to lower than budgeted expenditure on:

The outcome increases the charity’s funds to £1,961,284.

Structure, governance and management

a. Constitution

EACR is a company limited by guarantee (07682372) and a registered charity in England and Wales (1171827). Hereafter, the entity will be referred to as the 'Charity'.

b. Methods of appointment or election of Trustees

The management of the charity is the responsibility of the 16 trustees who are elected and co-opted under the terms of the Articles of Association: https://eacr.org/governance/constitution.

EACR members are invited to make nominations for new Board members. Nominations are considered by a Nominating Committee which advises the Board on its proposals for the appointment of members of the Board. The Nominating Committee sets out to recommend nominees of the highest calibre for consideration by the Board and ultimately the approval of the General Assembly. The Board makes nominations for Officers, again for approval by the General Assembly.

New trustees are provided with full information to brief them on their legal obligations under charity and company law. Four new Trustees were appointed in 2022. All Board members can be seen at: https://eacr.org/governance/board.

c. Organisational structure and decision-making policies

The Board of Trustees, which can have between 12 and 16 members, administers the charity. The Board meets at least three times each year. It sets the strategic direction for the organisation which is implemented by the employed staff, through an annual operational plan. Progress against this operational plan is monitored annually by the Board, along with a review at every meeting of financial performance against budget, and updated budget forecasts. In 2023, a KPI reporting dashboard has been introduced to be monitored by the senior staff team and presented to the Board annually.

The current strategic plan is available at: https://eacr.org/governance/strategic-plan and a plan from 2024 is currently being developed by the Trustees. The Executive Committee, consisting of the President, President Elect, Past President, Secretary General and Treasurer, has devolved authority to take decisions between Board meetings. The Committee, plus the CEO, meets by video call once every month. All decisions taken by this Committee are reported to the Board at the next full Board meeting.

Page 5

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Plans for future periods

The Strategic Plan sets out the EACR’s plans for 2022 and 2023. A longer-term plan is being developed for 2024 - 2028. In line with the plan to reduce reserves over time, the charity aims to introduce new funding opportunities for its members, to support them in their research. Career development and new online networking opportunities will also be developed. Membership fees will be kept low to enable existing members to maintain their membership and to encourage new members to join.

Funds held as custodian

There are no funds held as custodian.

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Charity 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 Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Page 6

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Auditors

The auditors, PKF Smith Cooper Audit Limited, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................

R. Bernards

Date: May 4, 2023

Page 7

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF EUROPEAN ASSOCIATION FOR CANCER RESEARCH

Opinion

We have audited the financial statements of European Association for Cancer Research (the 'Charity') for the year ended 31 December 2022 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 8

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF EUROPEAN ASSOCIATION FOR CANCER RESEARCH (CONTINUED)

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Page 9

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF EUROPEAN ASSOCIATION FOR CANCER RESEARCH (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified that the principal risk of fraud or non-compliance with laws and regulations related to:

We focussed on those areas that could give rise to a material misstatement in the Charity's financial statements. Our procedures included, but were not limited to:

It is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Page 10

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF EUROPEAN ASSOCIATION FOR CANCER RESEARCH (CONTINUED)

Use of our report

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Charity's Trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity's and its Trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

PKF Smith Cooper Audit Limited

Statutory Auditors 2 Lace Market Square Nottingham NG1 1PB Date: 5 May 2023

PKF Smith Cooper Audit Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 11

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022

Note
Income from:
Donations and legacies
4
Charitable activities:
5
Membership income
Meeting & conference income
Investments
6
Other income
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
9
Total expenditure
Net movement in funds/net income
Reconciliation of funds:
Total funds brought forward (as
restated)
20
Total funds carried forward
20		 Restricted
funds
2022
£
5,165
-
-
-
-
5,165
-
5,165
5,165
-
-
-		 Unrestricted
funds
2022
£
154,592
299,833
1,342,230
6,323
9,695
1,812,673
14,120
1,652,834
1,666,954
145,719
1,823,675
1,969,394		 Total
funds
2022
£
159,757
299,833
1,342,230
6,323
9,695
1,817,838
14,120
1,657,999
1,672,119
145,719
1,823,675
1,969,394		 As restated
Total funds
2021
£
163,026
254,917
617,874
660
50,948
1,087,425
13,431
635,446
648,877
438,548
1,385,127
1,823,675

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 16 to 33 form part of these financial statements.

Page 12

EUROPEAN ASSOCIATION FOR CANCER RESEARCH (A company limited by guarantee) REGISTERED NUMBER: 07682372

BALANCE SHEET AS AT 31 DECEMBER 2022

Note
Fixed assets
Tangible assets
14
Current assets
Debtors due after more than 1 year
15
Debtors due within 1 year
15
Cash at bank and in hand
Creditors: amounts falling due within one
year
16
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
17
Total net assets
Charity funds
Restricted funds
20
Unrestricted funds
20
Total funds		 14,698
339,811
2,389,408
2,743,917
(731,839)		 2022
£
7,777
2,012,078
2,019,855
(50,461)
1,969,394
-
1,969,394
1,969,394		 128,199
220,246
2,184,339
2,532,784
(672,502)		 As restated
2021
£
8,763
1,860,282
1,869,045
(45,370)
1,823,675
-
1,823,675
1,823,675

Page 13

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee) REGISTERED NUMBER: 07682372

BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2022

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

R. Bernards

Date: May 4, 2023

The notes on pages 16 to 33 form part of these financial statements.

Page 14

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022

Cash flows from operating activities
Net cash used in operating activities (Note 22)
Cash flows from investing activities
Purchase of tangible fixed assets
Bank interest income
Net cash provided by/(used in) investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year (Note 23)
The notes on pages 16 to 33 form part of these financial statements		 2022
£
201,687
(2,941)
6,323
3,382
-
205,069
2,184,339
2,389,408		 2021
£
150,424
(9,998)
660
(9,338)
-
141,086
2,043,253
2,184,339

Page 15

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. General information

European Association for Cancer Research presents its financial statements for the year ended 31 December 2022.

The Charity is a private company limited by guarantee incorporated in the UK. The registered office address is Sir Colin Campbell Building, University of Nottingham Innovation Park, Triumph Road, Nottingham, NG7 2TU.

The Charity's registered number is 1171827.

The Charity's principal activity during the year continued to be that of raising funds for the advancement of cancer research, through memberships, sponsorships, meetings and events.

A summary of the Charity's accounting policies, which have been consistently applied, is set out below:

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The financial statements are presented in sterling and are rounded to the nearest £1.

European Association for Cancer Research 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.

2.2 Company status

The Charity is a company limited by guarantee. The members of the Charity are the Trustees named on page 1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the Charity.

2.3 Going concern

After making appropriate enquiries, the trustees have reasonable expectation that the Charity has adequate resources to continue in operational existence for the forseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

2.4 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 Charity 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 Charity 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.

Investment income, gains and losses are allocated to the appropriate fund.

Page 16

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.5 Incoming Resources

All incoming resources are included in the Statement of Financial Activities when the Charity has entitlement to the funds, certainty of receipt and the amount can be measured with sufficient reliability.

Income from grants are recognised when the Charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Donations are recognised when the Charity has been notified of both the amount and the settlement date. In the event that a donation is subject to conditions that require a level of performance by the Charity before the Charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that these conditions will be fulflled within the reporting period.

Meeting and conference income is recognised once Charity has entitlement to the funds, certainty of receipt and the amount can be measured with sufficient reliability - usually this is at the time of the relevant meeting/conference taking place.

Membership income is deferred and recognised evenly over the duration of the membership.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.6 Expenditure

Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities, they have been allocated on a basis consistent with the use of resources.

Costs of raising funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and Governance costs are costs incurred on the Charity’s operations, including support costs and costs relating to the governance of the Charity apportioned to charitable activities.

All costs are incurred in the pursuit of the charitable aims of the Charity. The cost base is split into direct variable costs of running events, and operational overheads incurred in the ordinary course of business. Those overheads are disclosed in the accounts as “support costs”; these include gains/losses on foreign exchange and non-recoverable foreign VAT. The most significant element of support costs is the salary cost, which along with certain other overheads form the fixed costs of the company.

All expenditure is inclusive of irrecoverable VAT.

2.7 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

Page 17

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.8 Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the Statement of Financial Activities.

2.9 Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a Charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.10 Tangible fixed assets and depreciation

Tangible fixed assets costing £100 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment - 25% straight line

2.11 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.12 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.

Page 18

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.13 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 Charity 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.

2.14 Financial instruments

The Charity 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.

2.15 Operating leases

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term.

2.16 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

3. Critical accounting estimates and areas of judgment

In the application of the Charity’s accounting policies, which are described in Note 2, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future years.

The Trustees have not identified any critical judgements or key sources of estimation uncertainty in preparing these financial statements.

Page 19

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

4. Income from donations and legacies

Donations
Grants
Grants		 Restricted
funds
2022
Unrestricted
funds
2022
£
£
-
17,344
5,165
137,248
5,165
154,592
Restricted
funds
2021
Unrestricted
funds
2021
£
£
17,090
145,936		 Total
funds
2022
£
17,344
142,413
159,757
Total
funds
2021
£
163,026

5. Income from charitable activities

Unrestricted
funds
2022
£
Membership income
299,833
Meeting and conference income
1,342,230
1,642,063
Unrestricted
funds
2021
£
Membership income
254,917
Meeting and conference income
617,874
872,791		 Total
funds
2022
£
299,833
1,342,230
1,642,063
Total
funds
2021
£
254,917
617,874
872,791

Page 20

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

6. Investment income

Unrestricted
funds
2022
£
Bank interest received
6,323
Unrestricted
funds
2021
£
Bank interest received
660		 Total
funds
2022
£
6,323
Total
funds
2021
£
660

Page 21

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

7. Other incoming resources

Other incoming resources
Other incoming resources		 Unrestricted
funds
2022
£
9,695
Unrestricted
funds
2021
£
50,948		 Total
funds
2022
£
9,695
Total
funds
2021
£
50,948

8. Expenditure on raising funds

Costs of raising voluntary income

Unrestricted Total
funds funds
2022 2022
£ £
Fundraising expenses 14,120 14,120

Page 22

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

8. Expenditure on raising funds (continued)

Costs of raising voluntary income (continued)

Unrestricted Total
funds funds
2021 2021
£ £
Fundraising expenses 13,431 13,431

9. Analysis of expenditure on charitable activities

Summary by fund type

Direct and support costs
Direct and support costs		 Restricted
funds
2022
Unrestricted
funds
2022
£
£
5,165
1,652,834
Restricted
funds
2021
As restated
Unrestricted
funds
2021
£
£
17,090
618,356		 Total
2022
£
1,657,999
As restated
Total
2021
£
635,446

10. Analysis of expenditure by activities

Activities
undertaken Support Total
directly costs funds
2022 2022 2022
£ £ £
Charitable activity 964,576 693,423 1,657,999

Page 23

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

10. Analysis of expenditure by activities (continued)

As restated
Activities
undertaken Support Total
directly costs funds
2021 2021 2021
£ £ £
Charitable activity 51,511 583,935 635,446

Analysis of support costs

Staff costs
Depreciation
Rent (operating leases)
Office costs
Telephone
Computer costs
Staff training
Travelling expenses and entertainment
Legal and Professional
Bad debts
Insurance
Bank charges
Sundry expenses
Loss / (profit) on foreign exchange
Foreign taxes
Governance costs		 Total
funds
2022
£
503,464
3,927
39,401
4,701
159
6,468
4,926
16,577
56,213
3,318
13,364
12,239
4,220
7,983
(1,814)
18,277
693,423		 As restated
Total funds
2021
£
393,749
3,382
36,926
(4,383)
529
6,493
3,262
4,750
29,950
-
1,883
5,583
3,100
83,406
1,172
14,133
583,935

Included within governance costs is £7,500 (2021: £8,000) in respect of auditor's remuneration, £1,500 (2021: £6,133) in respect of auditor's non audit costs and £9,277 (2021: £Nil) in respect of Trustee expenses and other expenses in relation to attendance at board meetings..

Page 24

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

11. Auditors' remuneration

2022 2021
£ £
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts 7,500 8,000
Fees payable to the Charity's auditor in respect of:
All non-audit services not included above 1,500 6,133

12. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2022
£
411,461
37,787
54,216
503,464		 2021
£
322,972
28,191
42,586
393,749

The average number of persons employed by the Charity during the year was as follows:

2022 2021
No. No.
Employees 14 12

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

In the band £70,001 - £80,000

2022 2021
No. No.
1 1

Key management personnel includes those persons who are included on the administrative page.

The key management employee benefits (including employer pension contributions and employer national insurance contributions) for the year totalled £104,436 (2021: £97,033)

13. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .

During the year ended 31 December 2022, expenses totalling £ 4,796 were reimbursed or paid directly to 11 Trustees (2021 - £NIL to Trustee) .

All expenses relate directly to the attendance at board meetings.

Page 25

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

14. Tangible fixed assets

Cost or valuation
At 1 January 2022
Additions
Disposals
At 31 December 2022
Depreciation
At 1 January 2022
Charge for the year
On disposals
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021
Debtors
Due after more than one year
Prepayments and accrued income
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2022
£
14,698
14,698
192,772
1,718
145,321
354,509		 Office
equipment
£
24,339
2,941
(5,394)
21,886
15,576
3,927
(5,394)
14,109
7,777
8,763
As restated
2021
£
128,199
128,199
131,221
1,214
87,811
348,445

15. Debtors

Page 26

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

16. Creditors: Amounts falling due within one year

Trade creditors
Other creditors
Accruals and deferred income		 2022
£
31,205
47,444
653,190
731,839		 As restated
2021
£
66,256
42,504
563,742
672,502
17.
Creditors: Amounts falling due after more than one year
Accruals and deferred income
18.
Deferred income
Deferred income at 1 January
Resources deferred during the year
Amounts released from previous periods		 2022
£
50,461
2022
£
586,270
583,058
(509,332)
659,996		 2021
£
45,370
2021
£
662,642
556,945
(633,317)
586,270

Deferred income as at 31 December 2022 is split as £609,536 (2021: £540,900) due < 1 year and £50,461 (£45,370) due > 1 year.

Deferred income as at 31 December 2022 relates to:

Page 27

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

19. Prior year adjustments

In relation to the year ended 31 December 2021, an accounting error has been identified which has been adjusted within these financial statements and is reflected within the comparative figures.

The relevant line items and the error impact are set out below:

In addition, certain reclassifications of costs have been made to more accurately reflect the nature of the costs.

The relevant line items and the error impact are set out below:

Page 28

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

20. Statement of funds

Statement of funds - current year

Unrestricted funds
General funds
Unallocated amounts
Restricted funds
Restricted funds
Total of funds		 As restated
Balance at 1
January
2022
£
1,823,675
-
1,823,675
-
1,823,675		 Income
£
1,804,563
8,110
1,812,673
5,165
1,817,838		 Expenditure
£
(1,666,954)
-
(1,666,954)
(5,165)
(1,672,119)		 Balance at
31
December
2022
£
1,961,284
8,110
1,969,394
-
1,969,394

Page 29

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

20. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General Funds
Restricted funds
Restricted Funds
Total of funds		 Balance at
1 January
2021
£
1,385,127
-
1,385,127		 Income
£
1,070,335
17,090
1,087,425		 As restated
Expenditure
£
(631,787)
(17,090)
(648,877)		 As restated
Balance at
31
December
2021
£
1,823,675
-
1,823,675

Reserves are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity 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 Charity for particular purposes.

21. Summary of funds

Summary of funds - current year

General funds
Restricted funds		 As restated
Balance at 1
January
2022
£
1,823,675
-
1,823,675		 Income
£
1,812,673
5,165
1,817,838		 Expenditure
£
(1,666,954)
(5,165)
(1,672,119)		 Balance at
31
December
2022
£
1,969,394
-
1,969,394

Page 30

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

21. Summary of funds (continued)

Summary of funds - prior year

As restated
Balance at
Balance at 31
1 January As restated
December
2021 Income Expenditure
2021
£ £ £
£
General funds 1,385,127 1,070,335 (631,787)
1,823,675
Restricted funds - 17,090 (17,090)
-
1,385,127 1,087,425 (648,877)
1,823,675
Analysis of net assets between funds
Analysis of net assets between funds - current year
Unrestricted
Total
funds
funds
2022
2022
£
£
Tangible fixed assets 7,777
7,777
Debtors due after more than one year 14,698
14,698
Current assets 2,729,219
2,729,219
Creditors due within one year (731,839)
(731,839)
Creditors due in more than one year (50,461)
(50,461)
Total 1,969,394
1,969,394
Analysis of net assets between funds - prior year
As restated
Unrestricted
As restated
funds
Total funds
2021
2021
£
£
Tangible fixed assets 8,763
8,763
Debtors due after more than one year 128,199
128,199
Current assets 2,404,585
2,404,585
Creditors due within one year (672,502)
(672,502)
Creditors due in more than one year (45,370)
(45,370)
Total 1,823,675
1,823,675

22. Analysis of net assets between funds Analysis of net assets between funds - current year

Page 31

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

23. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Increase in debtors
Increase/(decrease) in creditors
Investment income
Net cash provided by operating activities		 2022
£
145,719
3,927
(6,064)
64,428
(6,323)
201,687		 As restated
2021
£
438,548
3,382
(224,959)
(65,887)
(660)
150,424

24. Analysis of cash and cash equivalents

Cash in hand
Analysis of changes in net debt
Cash at bank and in hand		 At 1
January
2022
£
2,184,339
2,184,339		 2022
£
2,389,408
Cash flows
£
205,069
205,069		 2021
£
2,184,339
At 31
December
2022
£
2,389,408
2,389,408

25. Analysis of changes in net debt

26. Pension commitments

The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £54,216 (2021 - £42,586). Contributions totalling £12,093 (2021: £4,448) were payable to the fund at the balance sheet date and are included in creditors.

Page 32

EUROPEAN ASSOCIATION FOR CANCER RESEARCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

27. Operating lease commitments

At 31 December 2022 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2022
£
24,247
-
24,247		 2021
£
32,058
20,245
52,303

Page 33