Charity numb¢r: 1192189 EIC CANCER RESEARCH & SCHOLARSHIP FOUNDATION (A Charitable Incorporated Organisation) LNAUDITED TRUSTEES, REPORT AND FINANCtAL STATEMENTS FOR THE ENDED 31 DECEMBER 2021
EIG CANCER RESEARCH & SCHOLARSHIP FOUI¥DATION (A Ch9rAtsble IneoLi>orted Orgalllsatlon) CONTEliTS Page Ref¢renee Adjtiinistrative Det&lls of the C.h2rlty, its Trnstee5 and Advi5er5 'rruBteesl Report StatemeDt of FlnArtei21 Attivities Balance Sheet Notes to tbe FiDncix] S(AtenMt$ 6-lQ
EIG CANCER RESEARCH & SCHOLARSHIP FOUNDATION (A Charltable Incorporated Organisatlon) .rEIiLNCL AND ADMIYISTRATIVL. DLI'I'AfLS OF THE CIIARITY, JTS TRUS'fLEs AND ADVISERS OR THF YF,AR F,E41)II'D 31 DECF.MIIJ,'X 2023 Trustees Spiros Ciiam88, Trustc¢ and Chaintsl Menelaos Cijan)as, Tm5tee Christupher Christou, Trustee Robert Sotcriow Trustee Piero Soteriaw TrLWttc ChArity registered number 1192189 Registered office 253 Grdy's llln Road London WCIX 8Ql' Solldtors Nahlis Cl]ristou ILP 243 Grny5 Inn Road L()ndon WC,IX 8RB Page I
IC CANCER RESEARCH & 8CHOLAIL8lItP FOUNDATKON IA Charltable Incorporated Orgg1118Stlon) TRUSTEESI REPORT FOR TEIE YEAR F.NDbD 31 DECEMBER 2023 Ttse Tru8t¢es are pleased to pre.sent their annual rcporl together widi the fancIal statcmeLts of the FJG Cartcer Re%eai"cli & Scholarship Foundation (the 'e.harityJ for the y¢ar end¢d 31 Dec¢mbET 2023. Thc Ch8rity i8 CO(itUte as a C.haritabl¢ Incorporated Organisation {CIOI. The iinnvd Report in¢lud¢b' * TTU5t¢es' rcport. The Trustees confimi that the Annual Report and fillallcial sialerllenis ofthe charitable (A)mpany ¢omply with the Luirent statutory reqLiirern6nts, the requirements of tile c'1tab1e con)i)aii)Ps govcrning d{UMent and the provisiuns ot. the Statement of Recommended Practice {SORP) applicable to chariti&% prcparing thcir accounts in acci)I'dance with the Financial Rei)ortillg SthndaTd applicablc in the U and Republic of Irtland (FRS1021 leffcctivc l Janiwy 20191. ObJeotive$ and 4ctivlt5es . Pollcles fjnd objecrfvey L't]e obje¢t of th¢ Chatity i8 for thc public bcncfit to advance education by thc PfOVlSLon of filn¢jaI EUPPQTL to assist individuals in fvrththing their post graduate studies and re%earch in thc ficld of cancer i'elad shLdie$ and r¢search at re¢okni2ed universili¢$, ¢ollege$, hospi(#ls, $earLI1 organisations and 51]ni1. institutiolls in tbe United Kingdom and e]sewhtre and to provide fitjallciai support ti) those inststutions io ¢onllJ¢¢tioll with callc¢r related studies aDd r£gearch. In setting obje¢tive8 and platinittg for aCtivitie4. the Trustccs havc given due consideration to general guidan¢e publi%hed by the Charity Commisston relating io publi¢ benefiL includitig the guidallce Public benefit.. rL]DniTrg 2 charity IPB2)'. b. StrRtegies for achieving objectives The $tratsgl for a¢hieviuB ihe Charily'8 obltIVeS are to raise funds tbrough donatiolls from Orgalsations aad iLidividuals attd to provide granL% attd donatiars to indivi¢tua]$ and itystiiulions that fall within tbe Cbarity's remiL ¢. Activities underthken to aehieve objectives The Tn]stees have concentrated on esrablishirL8 the Charity attd reaching out to poterjtial doDoiE and have made grants 2nd donation8 in accordance witb the Charity'A ohjeclives. Th¢ Trustees intend to f()GU5 prornoting the Chllty thix)iigh lletworkn'Dg alld holding periodic fundraising Cvcllts. d. PDlicit5 The Trnstecs h&ve agrccd Grant Mailing and Educatsonal Research pt)licie6. These policies have been bascd largely on guidelillcs issued by the Charity Cojnmissio Maln A¢thilrfes undertake]J to fvrther the Ch*Yity's purpth5os for the pbliC benefit All of til¢ Charity's activities are for the pub]ie benefit througb its facilitstion of targeted knowledge and re9¢ in the piliC doinain. A¢hlovements 9d pcrform4nce . Main achievernents Of the Chylrlty The main a¢hievements of th¢ ChaLity duThng th¢ year have been to make grants llnd donations and develop its 0ratIOnal str2teEies. During the ye, grsnts of £18,000 were made to a PhD cancer rese&rcher. Pa&Nc 2
EIC CANCER RESEARCH & SCHOLARSHtPFOUNDATION (A Charitabl¢ ID¢otPOTlted OrylltsAdots) TRusfEESI REPORT (coriNUD) FOKTHE YEAR ENDED 31 DECEMBER 2023 FIu4Xltil Teview . Gothg eott¢ern AfteT ttmking 8ppropriat¢ ertquirics, the Thstees have a reLsonabl¢ expectation that th¢ Charity has 8dequate r¢sources to continue in op¢rdtlonal existence for th¢ foreseeable future. For this reason, they Continue to edopt the going rA)nc¢rn basis in preparillg the finattci state]nents. Futher derai18 regarding the adoption of the 80in8 ¢oD¢¢rn bgsts can b¢ fouTrd in th¢ accounting poli¢i¢5. b. Res•rves pollcy Th¢ Primary Intention of the Charity i5 to distribute its fvnds to meet its ¢harttable objectives. It 1$ prud¢nt howeverto retsin sufficient fid$ to ett$w¢ the continuity of its tsp¢ration3. In this ¢ty sta8e of the Chwity'5 C5tablishmenl this aspect is closely mtsnitor¢d by the Trustee$. 8trnctUT4 govern0¢ •nd minagement . Cowltifytlo EIG Research & S¢holarshipFoundation is rGgistcred as ¥ Ch11&ble tncorporated (h38Thisl0tt (CIO). b. Methods oflppokntment or elettlon of Tru5ttts Th¢ m8nycnt of the Clw(ty is the responsibility of the Thistee8 who elected und¢r th¢ ttrtms of th¢ CIO Constitution. Statement of Trust¢M' rtSPDll5ibItleB The Trust are r&spOnSile for Pplg the Thisk¢s' Roport and the financial statements in accordance wÈth applic1¢ law and United Kin8dom A¢MuDting Standards Iunited Kingdom G¢nwaIly Accepted A¢o)untitig PtiCe}. The Char&ti¢$ A¢t 2011 r¢quir¢s the Twst¢¢s to prepare fitWl¢io1 ststemellts for e8¢h )kncial year. In prwing these finan¢io18tatements. the Thiste¢s hAVe followed b¢st practi5e which requires thtm to.. s¢1¢rt 5Ultabl¢ accountin8 EK)li¢i¢s aud then apply therD COTJSiStentiy' obs¢rvc the methods and ptill¢ipl¢s of the ChoritiEs SORP. make jud8menL8 and aOutill estimates that are re&4on8ble athd pThent. slite wheth¢r applicable UK AOUtitig Stalld4rds (FRS IQ2) h&v¢ be¢n followed, subject to ally m4teri81 d¢partur¢s dlscltssed explauied Its the fitwi¢ial stat¢m¢nts.. pr¢par¢ th¢ fi[181 8tst¢meJhts oll the goitig eollcern b&8i¥ lesS it is itsappropriate to prtsvm¢ that the CJO will CO]2tinue ill busin¢8S. The Tru8te&4 are responsibl¢ for keeping adequAte accountiJJg r¢¢onb that are sufficient ts show and exploin tho CIO'S transa¢tion$ and disclose with Te150n*blo awur&cy gt ally tim¢ the rpnCi&l posttiort of the CIO and ellable them to ¢mur¢ that the faRe[al stftt¢m¢nts Gomply with th¢ Charities Ac 2011. Th¢y tre a180 reBponsibl¢ for saf¢guaTding th¢ agsets of th¢ CIO and hene¢ fortakSttg rea30nabl¢st¢P5 for the prevMtioll wtd detectton of fraud alld other irre8wlariti¢s. Approved by ordetof th¢ m¢mbcrs of the iM)Ard of Trustees on 17 September 2024 4nd signed onthelr behalfby.. Spiros Gi%m28 (Chair of Ttu
EIG CANCER RESEARCH & SC.HOJ.AR8HIP FOUNDATIOP4 (A ChY4ritable Incorporgted OrganlsAtlonl STATEMENf OF FINANCIAI. ACTIKII'ILS (IIYCORPOKA'IING INLOMfi .4M) IPENDITuR ACCOUN'I'I FOR THE ENDED 31 DECEMBER 21)23 Unrestrtcted Total funds 2023 Totat ftmds 2022 2023 Income from: Donation$ attd legacies 14.790 14.790 3,416 Total Income 14,790 14.790 3,416 Expendlture on: Charitable activitics 2JJ91 23 J91 24.774 'rotal eip8ndithre 2J,391 23J91 24,774 Net moveJJ)ent Sn (8.601) (8,601) 121,358) Recontlllatlon ¥f funds.. Totdl fwids brought forward Netmovejntllt in fullds 28,195 {8,601) 28,195 18,60A) 49,553 121,3581 Total funds ovried fonvard 19,594 19,594 28,195 The Statement of Fitjdllcial Activities includes all gains and losses recogni$ed in the ye4U. Thc notes on pages 6 to 10 form parl of these financial %tatcmcnts. Page 4
EIC. CANCER RESE4 ARCII & SCHOLARSHIP FOUNDATION IA Chai'5table Incoryorated Organisationl REGISTERED NUMBER: BALAN'CE SHF.EI' AS A'f 31 DECEMI BER 2023 2023 2022 Note Current assels Cash at bank and in hand 22,474 33,835 22,474 33.835 Creditoib". amous)ts lalliiigT due within one year {2,8801 (5.6401 Net curi'ettt assets 19,594 28,195 Total assets less eurrent liahtlities 19,594 28,195 Tol21 net as$e¢$ 19,.f94 28.195 Charity fundg Rcstrictcd funds Urwcstrictcd fund5 28,195 Totgl fuiids 19,594 28,195 Tlie Cliarity was entiiled to exeii)Plion (rom uudii and indcpendcnt cxaminiition under seetii)rt$ 144 #nd 145 of tlie Lliaiilies Act 2011. Tli¢ 'l'Tuslees havc not requircd the Cliarily te obtain an audit or indepeiident exaniinalion tor tlie period In qu¢slJoD itl ac¢tsrddnLe with sections 144 and 145 of Chariiie% Act 2011. Tlie TTusl¢es a¢knowledgie Ilieir respoiisibililies for cojiiplyin8 wiui Ihe requiretiients of the Charthiies Aci 2011 witli respeci to aOntIng r¢coi-d.s and preparation of financial stalemenls. Tlie anci %tatein¢nis were approved and &uthoi'ised foi. issue by the Trtiqiee% on 17 Septernber 2024 and signed on their esl Tlie notes oil pages o l O foixn part of tliesc financial %tatem¢nts. Pagie 5
EIG CANCER RFSEARCH & SCHOLAR8HtP FOUNDATION (A Cbarlt4ble IDcDrporated Organi8ation) NOTES TO THfi. I1'1Tr4ANCIAL èiTATF,MF,NTS FOR THE YEAR ENDED 31 DECEMBER 2023 Cellerg1 lllformxtlfjn The Charity is con8Litytod &$ & Charitxbl¢ I¢[porated Incorporation (CIO) under tbe Chariti&% Act 2011 and 15 registcrcd thc ChaTity Commission For England and WaIes rtgi8tered nmbcr 1192189. The CIO was rwst¢red on 5 NoY¢mber 2Q20. Aeeollntlng polldos 2.1 Basis of prepAr8tion fjf financiAI stst¢m¢nls The fjnancial gtatements have been prepared in accordance with the Charities SORP (FRS 102)- Accoutkting and Rcporting by Charitics.. Statement of Rttonjmtnded Practice applicable to charitie5 preparing their a¢¢ounts in accordauce with the FirnCIal Reportin¥ Standard &ppli¢abl¢ in thc UK alld Republic of Ireland (FRS 102) (eff&tive l January 2019), the Finarlcial Reporting Slalld8rd 8ppli¢abl¢ in th¢ UK and Republic of Ireland IFRS 102) attd the Charitie6 Act 2011. EIG C8ncer R&%earch & Scholarship Founduion meets thc dcfinition of a public beDefLt entity under FRS IO2. Assets and liabilities are initially recoglli8ed at historical cost Dr transaction value unless othcrv/isc stat£d in the relevant accounling policy. 2.2 I¢0¢ Ail inc()me is recognised once ihe Chariiy IS entitlement to the illeone, it is probable that the income will be received aod amollot of incorne receivable can be measur reliably. 2.3 Expellditllr Expendittue is re¢ognised once there is a leEal or collsiructive obligation to tt2nsEer ecoDomi¢ b¢n¢fit ¢0 a third PArty, il is "obabl¢ that a transfcr of ecooomic benefits will be i'eqllirtd in 8e(LiemEnl attd thtt nOUn1 of the obligation can he measured reliably. Rxpenditurc is Cl51fiCd by activity. The CLKsL8 nf cach aclivity are made up of the totsl of direet costs and shared Wbt8. inGliiding support C08ts involved in undertaking activity. DllEcL costs 2tlribulable to a SilluI¢ 4ctivity are aIlocawi dlleL'tly to that aLtivity. Shared cosfs which contribute to more than ottc activity alld support LOSts which are not attributable to a 5illgle tIVi(Y are 2pportioned bctwccn thosc activities on a basis e¢msistcnt with th¢ u%c of r¢sourccs. Cciitral 5ff costs are allocatcd on the ba813 of tin)e spenL alld dcpreciation charges allo¢ated i)n d)e por¢ion of the Set'S Use. Expenditui"e on charitabl¢ activities is incuired on directly llndertdking the ac(ivities whi¢h fwLh¢r the Charitys obje¢tsve%. well &8 any &*%oci&tcd support costs. 7nts payable are ¢horged in the yr when tlie offer is madc cxccpt in those casu where thc t)ff¢r 18 conditi0J1, siich grant8 being recognised as expenditure when the conditions attaobiog aLe fulfilled. Grants offered subject to Ct)nditions which have not be¢n mct at the year End are noted as a bul nol accNcd as cxpcnditurc. Ail expenditure is inclusive of in'ecoverAble VAT. Page 6
EIG CANCER RESEARCH & 8CHOLARSIIIP FOUNDAI'ION (A Charitable Incorporated Organtsation) NUTr.s'ro'iwL lilNANCIAL STATfi MTrJ4TS r4OR'I'IIL YEAR EINDF.D 31 DECEMBLII 2023 Accfjuutlng polleies {¢ontinued) 2.4 1.IHbTliti&s and provisions Liabilities are iecognised wbcn thcrc is %n obligatioll at the B*lAncc Sheet date as & I'esult of & past cvent, it is pmb2ble thal a Iian¥fer of economic benefit will be required in settlemelll and the tullvunt of the sEttletuent ca be estimate41 reliably. Liabitiues gr¢ re¢ogni8¢(t at tlLe amoullt that the Ch8ty anticipate8 it will pay to %¢tde th¢ d¢bt or the amount Lt has receiv¢d as adv8nciyJp&yments for the good8 or Be1 ittnu8t provide. 2.5 accounting General fidS are unrestricted funds whidi are 8vailable for us¢ At the discretion of the Trustecs in furtherdnce of th¢ general objectives ofthe Ch'ity attd W"Ch have noi been debigllate(I for otheT purp08es. In¢ome from d•n8tlons recelved Unrcstricted funds 2023 'I'otal funds 2023 Tothl fi]nds 2022 Donations l4,790 14,790 3,416 Allalysis thf charitable grant5 rnade Total fwids 2022 Grants 2023 202.1 Scholarship alld institiOnal 8rants and donations 18,IK)O 18,th)0 18,0 PRge 7
CANCER RLI SEARCH & SCHOLARSHIP FOUNDATION IA Charltable Ineorporated Organisation) NOTES TO THTr: IIryNANCIAL STAI'17,Mfi,N'l'S FOR THE YEAR ENDF,D 31 DF,CE.MBLK 2n23 AD91y$ls of expendltyre ou ¢h4rltable 4etivltle8 Summary by fund type and analysi5 of expenditiire by activities Unrestricted fund¥ 2023 Total 2023 Tot 2022 Scholarship Ind in8titittioDal Grants Ado)illsitrative Costs 18,000 5.391 18,000 5J91 18,000 6.774 23,391 23J91 24.774 Tru8tees' remuDer2tloD alld expenses thirtng thc ycar, thc Trustces rcccivedno remutterAtion for th¢ir servicEs as tnTStecs. Credltors,. Amounts falllng duc TrvAthin onc year 1023 2a22 Ae¢ruals and deferr1 incom¢ 2,880 5.640 Page 8
EIG CANCXR N81(ARc]I & SCHOE,ARSHIP FOUNDATION {A Ch*rltable Incorpornted Organisatiou) NOTES TO THF filNANCIAL S'I'ATEMENTS FOR THE YEAR ENDED JI DF,CF.MBF.R 2023 Statement of funds Statement of funds- current year Balance At 11 DeLeber 2023 Bg1gnce #t I 202J Income Expendttllre utrIcted funds General Truds- alt fllll(ts 28,195 14,790 (23.3911 19,594 St#tement of fundg- prlor year Ba]Ance at 31 Decemher 2022 Balancc at l January 2022 lllcome Expenditt]re Uure8tri¢t¢d funds General Funds. all fvnds 49,553 3,416 {24,774) 28.195 Anllly5is of net a55et5 between funds Ullrestrfcted funds 2023 Total 2023 Curretlt assets 22,474 12,8801 22,474 {2.88O) CreditOTS du¢ within one y Totsl 19,594 19,594 Page 9
EIC CANCER RFSEARCH & SCHOLARSHIP FOIINDATIOIY IA Ch#rltsble lllcorporated OrgaDi5ation) NOTFS TO THF. IIINANCIAL 8'1'A'fLI,MbP*TS FOR THE ITAR ENDED 31 DECEMBER 2023 Arty$l$ of net assets betweell fund$ leonlknued) Anatysls of net assets betweell fund4- prlor year Unrestricted Total runds 2Q22 2022 Cu¢1 ass¢t5 33,835 (S,0) 33,835 (5,&10) CrEditors due within one year Total 28,195 28,195 Page 10