## **Essex Cancer Research** ## **Report of the Trustees** Charity number 1183632 For the Year Ended 31 October 2023 ## OBJECTIVES AND ACTIVITIES ## Objectives and aims The objects of the CIO are to relieve sickness and to preserve and protect good health for the public benefit in Essex by: 1. Widening the access to cancer research; 2. Supporting local clinicians to initiate and undertake cancer research; 3. Promoting collaboration between Academia, Industry and the NHS to create a cancer research hub; 4. Improving availability and accessibility of cancer information for patients and families. ## **Significant activities** Whereas in previous years James Cooper’s heroic fundraising efforts resulted in successful black-tie events, this year James had to step back and other trustees collaborated successfully to hold our annual fundraiser, albeit with a change of venue resulting in a smaller number of attendees and a more modest surplus. We continued to spend time developing the website although this was proving more challenging than expected; we maintained the relationship with the University of Essex and explored how this might develop further; we assessed 20 Cancer Biology MSc student project presentations at their Student Conference and awarded four prizes and certificates. Students also raised some £400 through their collective efforts for Essex Cancer Research, and we are, of course, deeply grateful for this donation. We received updates from Mid & South Essex NHS Foundation Trust on their data analytics work. An invitation for ECR to be represented on MSE’s cancer strategy steering group has not yet materialised. Despite our intention to alternate monthly formal Trustee meetings with the Operational Group this proved increasingly unattainable as the year progressed since time-pressed Trustees found this arrangement difficult to sustain. ## **Public benefit** We recognise the longer-term nature of the charity's development will not bring intended benefits immediately. ## **Social investments** ## None ## **Grant Making** ## None ## **Volunteers** Other than the trustees we have benefited from the experience of Mark Capon as hon. Treasurer and Gemma Sirin as hon. Board Secretary and Minute Taker. Mark also raised funds for ECR through bravely participating in a sponsored ‘fire walk’. We are also grateful to staff at OCL Ltd who have continued to support our administrative needs. We were delighted that Essex PhD student Francesca Wright (a previous MSc winner) agreed to work with us in developing our use of social media and has been making a very helpful contribution. Sammy Rokosyznski was also welcomed as a volunteer, having particular interest and experience in cancer work in the NHS and more widely. We introduced a policy for the treatment of staff (including volunteers) and another on expenses. We were delighted that Cathy O’Driscoll was able to take on the role of trustee again. Trustees and volunteers have helped ECR make progress and their efforts are greatly appreciated. JB/23 June 2024 **Charity registration number 1183632** ## **ESSEX CANCER RESEARCH** **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023** ## **ESSEX CANCER RESEARCH** ## **LEGAL AND ADMINISTRATIVE INFORMATION** ## **Trustees** Mr J T Cooper Mr J D Bruce Mr K Madhavan Mr Alan Tuckwood Ms C P O'Driscoll ## **Charity number** 1183632 ## **ESSEX CANCER RESEARCH** ## **CONTENTS** ||**Page**| |---|---| |report|1 - 3| |Statement of responsibilities|4| |Statement of financial activities|5| |Balance sheet|6| |Notes to the financial statements|7 - 10| ## **ESSEX CANCER RESEARCH** ## **REPORT** ## _**FOR THE YEAR ENDED 31 OCTOBER 2023**_ The trustees present their report with the financial statements of the charity for the year ended 31 October 2023. The trustees have adopted the provisions of 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 statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the organisation's constitution, the Charities Act 2011 and "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). ## **Objectives and activities** The objects of the CIO are to relieve sickness and to preserve and protect good health for the public benefit in Essex by: 1. Widening the access to cancer research; 2. Supporting local clinicians to initiate and undertake cancer research; 3. Promoting collaboration between Academia, Industry and the NHS to create a cancer research hub; 4. Improving availability and accessibility of cancer information for patients and families. ## _Public benefit_ ## **Significant activities** Whereas in previous years James Cooper’s heroic fundraising efforts resulted in successful black-tie events, this year James had to step back and other trustees collaborated successfully to hold our annual fundraiser, albeit with a change of venue resulting in a smaller number of attendees and a more modest surplus. We continued to spend time developing the website although this was proving more challenging than expected; we maintained the relationship with the University of Essex and explored how this might develop further; we assessed 20 Cancer Biology MSc student project presentations at their Student Conference and awarded four prizes and certificates. Students also raised some £400 through their collective efforts for Essex Cancer Research, and we are, of course, deeply grateful for this donation. We received updates from Mid & South Essex NHS Foundation Trust on their data analytics work. An invitation for ECR to be represented on MSE’s cancer strategy steering group has not yet materialised. Despite our intention to alternate monthly formal Trustee meetings with the Operational Group this proved increasingly unattainable as the year progressed since time-pressed Trustees found this arrangement difficult to sustain. ## **Public benefit** We recognise the longer-term nature of the charity's development will not bring intended benefits immediately. - 1 - ## **ESSEX CANCER RESEARCH** ## **REPORT (CONTINUED)** ## _**FOR THE YEAR ENDED 31 OCTOBER 2023**_ ## **Volunteers** Other than the trustees we have benefited from the experience of Mark Capon as hon. Treasurer and Gemma Sirin as hon. Board Secretary and Minute Taker. Mark also raised funds for ECR through bravely participating in a sponsored ‘fire walk’. We are also grateful to staff at OCL Ltd who have continued to support our administrative needs. We were delighted that Essex PhD student Francesca Wright (a previous MSc winner) agreed to work with us in developing our use of social media and has been making a very helpful contribution. Sammy Rokosyznski was also welcomed as a volunteer, having particular interest and experience in cancer work in the NHS and more widely. We introduced a policy for the treatment of staff (including volunteers) and another on expenses. We were delighted that Cathy O’Driscoll was able to take on the role of trustee again. Trustees and volunteers have helped ECR make progress and their efforts are greatly appreciated. ## **Achievements and performance** ## _Significant activities and achievements against objectives_ ## **Financial review** ## _Reserves policy_ The general reserves are the unspent funds of the charity. The charity currently owns no fixed assets, so the general reserve is held in cash. The general reserve is therefore the free reserves of the charity, there are no designated funds. The purpose of the reserve is: 1. To fund working capital. 2. To fund unexpended expenditure, e.g. when projects overrun, or unplanned events occur. 3. Manage economic or regulatory changes which may have unforeseen financial consequences. Our immediate aim is to build up reserves until such time they can be used for viable projects, e.g. web development; Research fellowships; Prizes / awards for MSc Research Projects in Cancer Biology (University of Essex). We asses the level of general reserve needed by looking forward and considering the risks to our funding balanced against our expenditure commitments. - 2 - ## **ESSEX CANCER RESEARCH** ## **REPORT (CONTINUED)** ## _**FOR THE YEAR ENDED 31 OCTOBER 2023**_ ## **Structure, governance and management** ## **Governing documents** CIO 'Foundation Model' Constitution. ## **Charity constitution** CIO. ## **Recruitment and appointment of new trustees** The board has adopted procedures to ensure an appropriate mix of gender and race. ## **Induction and training of new trustees** Appropriate training is given to develop awareness of the charity's aims and objectives. ## **Registered Charity Number** 1183632 (England and Wales) ## **Registered Office** 12 Station Court Station Approach Wickford Essex SS11 7AT ## **Trustees** Mr J T Cooper Mr J D Bruce Mr K Madhavan Mr Alan Tuckwood Ms C P O'Driscoll ## _Recruitment and appointment of trustees_ The report was approved by the Board of TrusteesTrustees and signed on its behalf by: Mr J D Bruce 24 July 2024 - 3 - ## **ESSEX CANCER RESEARCH** ## **STATEMENT OF RESPONSIBILITIES** ## _**FOR THE YEAR ENDED 31 OCTOBER 2023**_ The trustees are responsible for preparing the Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping sufficient accounting records that 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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. - 4 - ## **ESSEX CANCER RESEARCH** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 OCTOBER 2023**_ |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2023**|**2022**| ||**Notes**|**£**|**£**| |**Income from:**|||| |Donations and legacies|**2**|2,819|7,185| |Other trading activities|**3**|15,367|28,084| |**Total income**||18,186|35,269| |**Expenditure on:**|||| |Raising funds|**4**|10,497|18,757| |Charitable activities|**5**|25,000|-| |Total expenditure||35,497|18,757| |**Net income/(expenditure) and movement in funds**||(17,311)|16,512| |**Reconciliation of funds:**|||| |Fund balances at 1 November 2022||50,024|33,512| |**Fund balances at 31 October 2023**||32,713|50,024| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 5 - ## **ESSEX CANCER RESEARCH** ## **BALANCE SHEET** ## _**AS AT 31 OCTOBER 2023**_ |**Notes**
**Current assets**
Debtors
**8**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**9**
Net current assets
**The funds of the charity**
Unrestricted funds|**2023**
**£**
5,985
32,227
38,212
5,499|**£**
32,713
32,713
32,713|**2022**
**£**
4,185
46,444
50,629
605|**£**
50,024| |---|---|---|---|---| |||||50,024| |||||50,024| The financial statements were approved by the trustees on 24 July 2024 Mr J D Bruce **Trustee** - 6 - ## **ESSEX CANCER RESEARCH** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_ ## **1 Accounting policies** ## **Charity information** Essex Cancer Research is a charitable incorporated organisation. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the constitution, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. ## **1.4 Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 7 - ## **ESSEX CANCER RESEARCH** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_ ## **1 Accounting policies** **(Continued)** ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. ## **1.6 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. ## **2 Income from donations and legacies** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2023**|**2022**| ||**£**|**£**| |Donations and gifts|2,819|7,185| - 8 - ## **ESSEX CANCER RESEARCH** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_ |**3**
**4**
**5**|**Income from other trading activities**
**Unrestricted**
**Unrestricted**
**funds**
**funds**
**2023**
**2022**
**£**
**£**
Fundraising events
15,367
28,084
**Raising funds**
**Unrestricted Unrestricted**
**funds**
**funds**
**2023**
**2022**
**£**
**£**
Staging fundraising events
5,794
12,686
Travel
89
-
Advertising
60
1,220
Fundraising and publicity
5,943
13,906
Trading costs
Insurance
355
355
Telephone
56
155
Subscriptions and licences
442
468
Computer and software
1,416
1,375
Bank charges
285
398
Depreciation and impairment
**0**
**0**
Accountancy and professional fees
2,000
2,100
Trading costs
4,554
4,851
**10497**
**18757**
**Expenditure on charitable activities**
**Unrestricted**
**funds**
**2023**
**£**
**Direct costs**
Data Analytics
25,000
**Analysis by fund**
Unrestricted funds
25,000| |---|---| - 9 - ## **ESSEX CANCER RESEARCH** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2023**_ ## **6 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. ## **7 Taxation** The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. ## **8 Debtors** |**Amounts falling due within one year:**
Trade debtors
**9**
**Creditors: amounts falling due within one year**
Trade creditors|**2023**
**£**
5,985
**2023**
**£**
5,499|**2022**
**£**
4,185| |---|---|---| |||**2022**
**£**
605| ## **10 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. ||**At 1**|**Incoming**|**Resources**|**At 31 October**| |---|---|---|---|---| ||**November**|**resources**|**expended**|**2023**| ||**2022**|||| ||**£**|**£**|**£**|**£**| |General funds|50,024|18,186|(35,497)|32,713| |**Previous year:**|**At 1**|**Incoming**|**Resources**|**At 31 October**| ||**November**|**resources**|**expended**|**2022**| ||**2021**|||| ||**£**|**£**|**£**|**£**| |General funds|33,512|35,269|(18,757)|50,024| ## **11 Related party transactions** There were no disclosable related party transactions during the year (2022 - none). - 10 -