**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:
- Fostering interactions between researchers
- Fostering collaboration between its members
- Organising cutting edge scientific meetings
- Educating and supporting the career development of cancer scientists
- Championing the importance of curiosity-driven research
## **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:
- reliance on industry partnership income
- liability to the Horizon Europe project, as the EACR is funded through the UK government rather than the EU post-Brexit.
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:
- The congress held in Seville in June 2022
- Membership fees
- Donation income and grants
and to lower than budgeted expenditure on:
- Contingency funding
- The purchase and implementation of a new finance system which did not go ahead
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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
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:
- so far as that Trustee is aware, there is no relevant audit information of which the Charity's auditors are unaware, and
- that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the Charity's auditors are aware of that information.
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:
- give a true and fair view of the state of the Charity's affairs as at 31 December 2022 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **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:
- the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## **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:
- management bias in respect of accounting estimates and judgements made:
- management override of control;
- posting of unusual journals or transactions.
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:
- enquiry of management and those charged with governance around actual and potential litigation and claims, including instances of non-compliance with laws and regulations and fraud;
- reviewing minutes of meetings of those charged with governance where available;
- reviewing legal expenditure in the year to identify instances of non-compliance with laws and regulations and fraud;
- reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
- performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
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:
- £98k of membership income in advance (2021: £92k)
- £514k of registration and sponsorship income in advance (2021: £429k)
- £48k of grants in advance (2021: £65k)
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:
- Expenditure on charitable activities - credit £91,558
- Accruals and deferred income - debit £91,558
- Trade debtors < 1 year - credit £103,405
- Prepayments and accrued income > 1 year - debit £103,405
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:
- Charitable activities support costs (Legal & professional) - credit £49,362
- Charitable activities direct costs - debit £49,362
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.
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## **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_|
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