Charity number: 1192189 EIG CANCER RESEARCH & SCHOLARSHIP FOUNDATION (A Charitable Illeorporated Organlsation) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMEiYrs FOR THE YEAR EIWED 31 DECEMBER 2024
EIG CANCER RESEARCH & SCHOLARSHIP FOUNDATION (A CbArit9ble IncorporAted Org#nistlon) CONTENTS Page Rtf¢ren¢¢ gnd Admini8trative Detai]5 of the Charity, its Trustees and Advisers TteS, Report Illdependent Examther's Report Statement of FinaDeial Activities Bal*oc¢ Sheet Notu to the FI¢1?1 Stitem¢nts 7- 11
EIG CANCER RL8EARCM & SCHOLARSHtP FOUNDATION (A Charit¥bl¢ In¢orpor•ted Ownlsgtioll) RKFERLNCE AND ADMIYISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR EF4DED 31 J)KCFMB&R 2024 Tru8tees Spiros Giamas, Trust¢¢ and Chaimjan Men¢laos Giamas, TnLStee Christoplier Christou, Tnjstee Robert Soteriou, fwst¢¢ Piwo Soterioll, frust¢¢ ChaTity registered number 1192189 Registered offlee 253 Grny's Inn Road London WCIX 8QT llldependent Examlner A L Charles Limited 2.15 Barley Mow C¢ntr¢ London W4 4PH Sollcltors Nahlis Christou LLP 243 Grays Inn Ro&d London WCIX 8RB Page I
EIG CANCKR RESEARCH & SCHOLARSHIP FOUNDATION (A Ch#ritble Incoryor8ted Orggnlsgtlon) TRUSTEKS, REPORT FOR THE YEAR ENDED 31 DECKMBER 21124 The Trustees a pl¢as¢d to preseiit their annu&l report tO8ethcr with the finan¢iAI slatetncnts of the EIG cl¢Cr Research & S¢holarship Foundation {the 'ChaTity) for the year ended 31 December 2023. Thc Charity is constituted as a Charitable Incorpordted Orgat]isation ICIO). The Annual R¢port includes a 1'rustee8' report. Th¢ TN3t¢es Confimi that the Annual Rert alld fmancial statements of the ¢haritable compuny comply with the wrrent statutory requiren)ertts. th¢ requirements of the charitable ¢ompony's governing document the provisions of the Statement of RecomThellded Practice (SORP) applicabl¢ to charities preparing their accounts in 1cOrdanCe with th¢ FinanGial Reportin8 Stalldard applicable in the UK d Republic of Ireland IFRS102) (effective l January 2019). Objectives 4etivltles . Policies and tsbjectives The object of the Charity is for th¢ publi¢ b¢n¢fit to odvancc education by the provision of finaD¢ial supp)rt to assist illdividuals ID fiwthcring their post graduate studies and research in the fI¢ld of ¢an¢er related sthdies research at recowiz¢d uniY¢rsiti¢s, colleges, hospitAis. research orgallisation8 and similar instiThtions in the United Kingdom 4nd el$ewh¢re and to provide flnancial 5UPPOrt to those institutions ITh connecti()n with ¢all¢errelat studi¢s and r¢sw¢h. In setting objectives and plaTthing for activitie5, the Trustees have given due con5idcration to general guidance published by the Charity Commission rel]ng to public benefit, including the guidance'Public b¢nefit.' Tunning a charity (PB2)'. b. Strategies for chleviDg obje¢tlveJ The strdtegies for achieving the Charity's obje¢tives are to rnise fid5 through donations fiDm organisatiOTk% and It1VidualS and to provide gronts and donations to individuA]s #nd institutions that fall within the Charitys ranit. ¢. A¢tlvltl undertaken to acthl¢ve objeetive The TrnSte havc concentrated on establishing th¢ Charity and reaching out to potential donors and have made grants gmd donations in accord8nc¢ with the Charitys obje¢tiYes. The Trustees intetml focus on promoting th¢ Charity through networking aThd holding peri(di¢ fundrnising events. Grgllt-jMkgpO]IeLeg The Trusttt5 have agreed Grant Making znd Edu¢ation&l Resrarrh policies. These policies hav¢ b¢¢n based IwEely on guidelines issued by the Charity Commission. Mgln 9¢tivitits und¢rtaken to further the CILarlty's purp05eB for the publlc benefit All of the Charity's activitlC5 arc for the public benefit through its faciiitstion of targeted knowled8e atKI res¢ar¢h in the public domaill. Achievements gnd porform8nce . Mgln 4¢hIeveMtts of the ChArity The main &¢hievements of the Charity durin8 the year hav¢ been to make grants ad donatioDs aDd develop its op¢rntional strategies. During the yeHr, grants of £18.000 w¢re made to a PhD cattGcr researcher. Page 2
EIG CANCER RESEARCH & SCHOLARSHIP FOUNDATION (A Charitable Incorporated Organtion) TRusfEES' REPORT (CONTIIYUED) FOR THE YEAR ENDED JI DECEMBER 2024 Financial revlew GoiDg £oneern After making appropriat¢ ¢thquiri¢s, th¢ Truste¢s have a reasonable e4)¢ctation that the Charity has adequat¢ resources to continue in operational exi5tcnce for the foreseeable futhre. l-,or thi5 Itason. they Gontirhue to adopt thc going Concern bj8 iti prep18 the finallcial State¢llts. Further details regarding thc adoption of th¢ goitl8 concern basis catt be found in the accounting policic8. b. Rewrves policy Thc primary interttion of the Charity is to distribute its funds to mect its chllritable objectiyes. It is prudent hovert0 r¢taitt sufficient furtds to ensure the eontinuity of its operatLoll5. In this early stage of the Chatitys establishment this aspect is closely monitored by the Trnstees. Strncthre? governance gnd mgnagemellt A. Constitstion EIG Cancer Research & Schol8nhipFoundation As registered as a Charitable ttk¢orporated Organisation (CIO). Methods Of #ppointmeDt or elettion of Trustees The ]naTcet of the Charity is the responsibility tsf the Trustees who are elected under the temis of the CIO Constitution. Statement of Trust¢ay' rwponjibilltles The Trustees are responsible for preparing the Trustees. Rep)rt and the financial statements in ac¢ordan¢¢ with applicAble law aiid United Kingdom Accoiinting Standards (United Kitlgdom GEn¢rally AGcept¢d Accounting Practic¢). The Charities Act 2011 quireS the Trustees lo prepare financial Btatement5 for each financial year. Jn preparing these rinan¢iai sta¢ements, the Trustees h4v¢ fDllowed best pra¢Lise which requires them to.. s¢[t suitabl¢ accounting policies and then apply them consistently; obsetve the methods and principles of the Charities SORP. llke judgments and a¢¢ounling ¢stimates that are reasonabl¢ and PTudwt' stat¢ whether applicable UK A¢Unting Standards (FRS 102) have been followed, subj¢c¢ to any materia] departutrs disclosed and explained in the financial stAtements' prepare the financial statements on the going concern basis unless it is inappropriatc to prcsumc that th¢ CIO will Continue in business. The Trustse5 are responsible for keepftng adequate accouDting records that are 5uffi¢iertt t(> sbow and explain ihe CIO, transactions a[ disclose with reLsonable accuracy at any time the liJw)cial position of the CIO and ej1¢ them to eJ]sure that the fJrtw¢i s ents ¢p[Y with the Charities A¢ 2011. They are alw res]x)nsible for safeguarding the 8ss¢ts of th¢ CIO Ojhd hence reasonable steps forthe preventiott and detection of fraud and Oth irregulhrities. Approv emb the bo rd of Thjstses Ots 13 June 2025 and Signed on their behf by.. Piero So rugtee Pagt 3
EIC CANCER RESEARCH & SCHOLARSHIP POUPIDATNON {A Charitible Ineorpor•ted OryAnlsfttion) INDEPENDENT FXAMIINLR'S RV.PORI' FOR TIIF, YF.AR ENDE.D JI DXCEM8ER 2024 lthdependttLt EismiTier' Rq)uri to hr I'rllst¢es of EIG Canter RES¢4rch & ScholAr&hip Found0 I'the CPtArity') J resw to th¥ rliarlty TM5tBes oil my exMil)dI10n of dic accounts ofiiie Chttrity for Ihc ycyr tiid¢d 3 l DeLmber 2024. Rt4)oM$ibilitles Aiid 118i¥ of R¢port A8 tho Tnts¢¢¢$ of th¢ Cliariiy YOLI are respDii_4ibl¢ forth¢ iirLparaiion of Ihe ll¢conts io ¥cLordanLC Wtth Ili¥ r¥qtsirEMEnts of the Lhdtili¥ Art 2011 I1e 2011 A¢t'l. trlavijig saiisficd myself thai the accounili of thr C.hJrity aT¢ Ilot required to b¢ atidilcd oiid air ¢li8iblc for iiidepend¢ni aniina¢ion, I report in re¥p¢¢t of iiiy exaiDiiFatiOll of th¢ Charity's a¢¢ttunts carried out uiidEr s¢¢ri¢i¥ 145 of tlie Illy 2011 Act. In Laiiyinkw oirt 141y Lxainiiitstion I have folloivcd di¢ Dire£tiiiiTr$ giveii by the Charsty CoiiiJiit55ion uiid¥r SLCIIOII 14.%15Xbl of th¢ 2011 Act. Independ¥Tht F•xamlnerfts %talernen¢ I h8v¢ mnii)l¢trd n)y exHminolion. I confirm Iliht no In&liYr5 h¢ lo rny alleiiiioii ¢oKiicclion wSth thc exaiiiiiiHtion giving fflt caust believe.. accountiiig records were ntsi kep( in r¢spe¢l of Ilie Charity: or the a¢cuunl.4 di) ii(Il aLcord wttli Ili()8c rcwffjd%,' nr the acLuunts du iiol wmply witli tlie accouiiling quI1¢m¢nIs of tlie 2011 Act.. or Ilie giu)uiis have iiot b¢eii prcparod iji accordance U)c ni¢thods ld principles of die Statenieiit of Reconiiiiendcd Pr8Cticc for 4c¢ountlllg 8lld r¢porling by chaiiti¢S. I havc Tro coiicerni.s and have coJDe &cr059 oihcr iii ¥onu¢¢lioii with tiK E¥allllll&llOlI to whicli atntioii sliould be drawn in this rjr1 in order ro eiiablc a proper Dnderstlliiding of Ilie accounts to be reaclied. This report 1% m4ide solcty lo the Cliftritys .1 riisL'es. as u hdy, iii aCCLTrrdaii¢e wilh ljait 4 of thr cliariti (Accoiinti and Reports) RegulttiioJ]$ 2001. My work has been undtrt2k¢D yo that I Inighi %thte i(> the r.hoTity'$ 1w5teu th05¢ Inaii¢rs l am rcqiiircd 10 stale tth theTTr iii ali Indepeiidei11 %111111C,S RepL)rl Hiid for iiu uilier purpose. To lh¢ full¢$i extnt p¢rmiited by law. I do noi aecepi or rebpoiis£biliLy ts) inyon¢ odirr than tli¢ Charsty and Ilit Ch¥iig$ Ttusltt's a.s a body, for my work or for Ihis report, Signed.. Dal¢d.. 13 Juno 20 Leon CTharal4thbid¢s FCA A l. Chgrlu Limitsd 2.15 Bar1 Mow Cciitr¢ W4 4PH Page 4
EIG CANCER RESEARCH & SCHOLARSHIP Fouf4DATION (A Charitable Ithcorpor4ted OwntsatloTh} srATEMENf OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DEcELIBER2024 Unrestricted funds 2024 Tot•1 funds 2024 Total funds 2023 Income from: Donations and legacies 32J37 32J37 14.790 Totsl incothe 32,337 32J37 14.790 Expenditwre on: Charitablc activities 49.411 49,411 23J91 Total expenditure 49,411 49,411 23,391 Net mOveeI ill funds (17,074) (17,074) (8.601) Reeonclllatlon of funds: Total funds brought fon¥ard Net moven)ent irt funds 19,594 (17,074) 19,594 (171174) 28.195 (8,601) Totsl ndS carA¢d forw*rd 2,S20 2,52 19,594 The Statement of fInaClaI Activiti¢s in¢lud¢s a]1 gains and1085¢5 r¢cogni5ed the year. The notes on pages 7 to I I fomi part of these fthancial statemeThts. PagE 5
EIC CANCER RLSKARCH & SCIIOLARSIIIP Fouf4DATION (A Charitable IncorpoTAted OrgglllS4tion) REGISTERED NUMBER: BALANCE SHEET AS AT 31 DECEMBFR 2024 2024 2023 Nots Fix¢d 9s8e¢s Current 1155ets Debtors Cash at bak aod in homd 796 5,069 22,474 5,865 22,474 Cr¢ditDTS'. amovnts falling due within one y¢ar J45) (2,880) Net eurrent assets 2J211 19,594 Totsl a&8ets less Current Ilabilllies 25211 19,594 Net 98$ets excludithg pension 4$8¢¢ 2J2 19,594 Total net *5sets 2,520 19,594 Chgrity funds Restricted funds 10 Unrtstrtcted fuThd8 io 2&21J 19,594 Tot81 2,520 19,594 The Charity entitled to exemption from audit imder sectioDs 144 and 145 of the ChaTitie5 Act 2011. The hav¢ not required thc Charity to obtain an audit for the period in question in accordance with Sections 144 8] 145 of ChaTitic& Act 2011. The TTUSt¢¢s acknowledge their r¢spon$ibilities for mplying with th¢ requirements of the Charit¢s Act 2011 with respect to a¢¢ounting r¢¢ords wd preparation of financial stat¢tll¢nts. The financi by.. ent were approved and authorised for issue by th¢ Tkvste¢5 on 13 June 2025 8igned on their behalf Piero Soterioll, Trwtee The notes on paga4 7 to 11 forni part of these financial statements. Pag¢ 6
EIG CANCER RKSEARCH & SCHOLAILSHIP FOUNDATION (A ChfiTitable IncoTted Orynisatioll) NOTXS TO THE FIryANCIAL STATEMENrs FOR THE YEAR ENDED 31 DECEMBER 2024 GenerAI information The Chority is ¢ot)stittit¢d as a Chitable Incorporatcd Incorporation (CIO) under the Charili¢8 Act 2011 and is regist£red with the Clwity Cornrni&8ion ForEngiand and Wales regist¢red number 1192189. The CIO was registard on 5 Novetnber 2020. Aeeountlng polleleg 2.1 Bas of preparation of finsncial statement5 The fin4ncial tht¢m¢nts hav¢ been prepared in ac¢ordats¢e with the Chatities SORP (FRS 102)- Accounting and Reporting by Chorities: Statement of ReCOn[lended Practice appiiGable to cknit1¢5 preparing their accounts in accordance with the Fijwicial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (¢ffeGtiYe l January 20191, the Fijwkcial Reporting Standard applicable in the UK and Republi¢ of Ireland {FRS 102) and the Charities Act 2011. EIG Con¢¢r Research & Scholotship Foundation meets the definiknotl of a public bEnEfit cntity under FRS 102. Assets and liabilities are initially recogllised at historical cost 0rtraustio value unl¢s5 otherwise stated in the rel¢vant accounting policy. 2.2 Income All in¢om¢ is recognised once the Chartty has elltitlement to the income. it is probable th*t the incomc will be received the amount of income receivable Can be measured reliably. 2J Kxpendithre ExpcnaituT¢ is recognised once there is a legal or con8trn¢tiYe obligatitstt to tjwisfcr cconomic benefit to & third party, it is probable that A tLwJsfer of economic bcn¢fits will bc rcquircd in 5ettlcment and the amounl of th¢ obligation cah be m¢&sured reliably. ExpellditUTe is classified by 8ctivity. The c¢)sts of ¢ach activity are made up of the total of direct costs and shared Costs, including support Costs involved in undertaking ea¢h activity. Direct costs attributable to a Single a¢tivity are aIlo¢ated dirertly to that activity. shar costs which contribute to more than one activity and support GOSts which arc not attTsbutable to a sitt¢ activity are apportioned between those a¢tivitics on a b]5 con518tent with the us¢ of resources. Central staff ¢osts are alloted on the b&8is of time spenL #lld depreciation ¢h8rges ollo¢ated on the portion of the asset's use. ExpenditUTe on ¢haritsble activities is incurred on dIrtlY uttdert¥&ing tbe A¢tivitieg whidL fjjrther the Chuitys obje¢tiv¢s, as w¢ll Hs any a550oiated support costs. GrdnL8 payable Sre charged in the year when thc offer is made except in those wes where the offcr is conditional, 8u¢h grants being recOlSed as expenditure when the Conditions attaching are thlfllled. Grant5 offered subject to conditions which have not beEn met at the year end are noted as a cx)mmittn¢nL but not accrued expellditure. All expenditure is inclusive of irre¢overable VAT. 2.4 Debtort Trad¢ and otb¢r d¢btors are re¢ognis¢d at ¢he settlement amount after any trad¢ discouttt offered. Prepaymellts ar¢ valu¢d at the amount prepaid net of any trade discounts thie. Page 7
EIG CANCER RESEARCH & SCHOLARSHIP IfouNDATION (A Chgritsble Incorporated Owrtlsitlon) NOTKS TO THE FtNANCIAL STATEMENrs FOR THE YEAR ENDED 31 DECEMBER 2024 ACCollDtlg poii¢ie$ (colltinued) 2.5 LAbllitle$ #nd provtslong Liabilities are recognised when there is an obligation Bt the Balance Sheet de &5 a result of Fd Past evenl it is probable that a transfer of ¢conomi¢ ben¢fit will be required in settlemenL and the amount of the settlement be estimated reliably. Liabilities are recogni5ed at the arnount that thc Charity anticipates it will pay to settle the debt or the amount it has w¢iv¢d as &dvan¢ed payments for the goods or setvi¢es li must provide. 2.6 Fund Aeeowntlng General funds are unrestrKcted fund5 which are available for use at the discretion of the Thistees in furtherance of th¢ general obj¢ctiv¢s of the Chariiy and which hav¢ not b¢en d¢sigrtat¢d for other purposes. Ineojlle frotn doll&tion8 received Urtrestrioted d$ 2024 Total funds 2024 Totai fimds 2023 Dojwtions 32,337 32J37 14,790 An91ysis of choritabk grgnts made I'otsl funds 2023 Gramts 2024 Total grants 2024 Scholarship and institutional grants and donations 18,000 18,000 18,000 Page 8
EIG CANCER RESEARCH & SCHOLARSHIP FOUNDATION (A Chiritable Incorporated Oig8niiation) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2024 An8lysis of upenditurn ¢h•rit8ble Activiti suth*ry by fund type artd an#lyyis of expditre by #¢tAvities UDTestrictsd fund5 2024 Total 2024 Total 2023 S¢holarship and institutiottal Grants Athnin51trativ¢ Costs Is,0 31,411 18,000 31,411 18,1100 5,391 49,411 49,411 23,391 tndependellt exarniDer s remuneration Th¢ ind¢p¢nd¢nt ¢xamin¢rfs r¢mwieration 8mounts to an independent examiner f6e of £ - (2023- £ -). Trusltth, remuneration and expense9 Durin8 the year, the Trustees received no remuneratioll for their services as tTUStees. Debtors 2024 2023 Due vAthkn ont yelr Prcpayments and ¢ned ineome 796 790 Credltor8: Amoullts fallbhg due wlthln one year 21124 2023 Trade ¢r¢dilors Other crtt018 AcCn5 and deferred iticom 81 264 3,000 2,880 3J45 2,880 Pa8e 9
EIG CANCER RESEARCH & SCHOLARSHtP FOUNDATtOJY (A Ch8ritble Incorporntttl Organtsgtiou) NOTkS TO THE Fif4ANCIAL TMEITs FOR'fHE YKAR EIYDED 31 DECEMBER 2024 io. ststement of funds Stfitelllent of funth- eurtent yer BilAnee *t 31 Dece]nber Balance at I J8nuary 2024 Incomt Kxpellditure 2024 Ullrestrieted funds General Fund$- a]1 funds 19,594 32.337 {49.411) 2J20 Statement of funds- prior year Ba]an¢¢ 8t 31 D¢c¢mber 2023 Balance at l January 2023 Jncom¢ Exp¢nditure unrestr¢1ed fwid$ Generai Funds- all funds 28.195 14,790 (23.391) 19,594 Allllysb of net ass•ts between funds Unrestrieted fllndg 2024 Total nd8 2024 Currart assets 5,865 {3,345) 5,86S (30451 Creditors due within ont y¢ar Tol%1 2,520 2.S20 P8g¢ 10
EIG CANCER RESEARCH & SCHOLARSH FOUNDATION (A ChaTÉtble IncoryoT8ted Orggnis8tion) NOTES TO THK FINANCEAL STATEMEIYTS FOR TIIE YKAR ENDED 31 DECEMBER 2024 ii. Analysis of thet ssets between funds (eontinued) An•lysis of Thet *83ets betsveen pritsr period Unrestricted rwid5 2Q23 Total funds 2023 21474 (2,880) 22.474 {2,880) Creditors due within o]Je year TotAI 19.594 19,594 Page 11