Charity reglstratlon number 1210690 (England and Wales) Company registration number 14281232 CANCESTRY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
CANCESTRY LEGAL AND ADMINISTRATIVE INFORMATION Trustees Dr Liz Avital Caroline Jane Presho ProfessorJonathan Andrew Ledermann Paul Martin Winbum Israel Joel Lee Davis Stephen Deitch Chalrperson Stephen Deitch Treasurer Paul Israel Charity number (England and Wales) Company number 1210690 14281232 Website address httpS:/lwww.canSIry.0rg Reglstered office 6 ParkAvenue London N3 2EJ Independent examlner Millet Audit Ltd Beyond Aldgate Tower, 2, Leman Street, London, E18FA
CANCESTRY CONTENTS Page Trustees report Independent examinerfs report Statement of financlal actlvlties Balance sheet Notes to the financial statements 9-15
CANCESTRY Trustees, Report FOR THE YEAR ENDED 31 AUGUST 2025 The trustees present their annual report and financial statements for the year ended 31 August 2025. The financial statements have been prepared in accordance wlth the accounting policies set out in note 1 to the financial statements and comply with the charity's goveming document, the Companies Act 2006, FRS 102 "The Financlal Reporting Standard applicable Sn the UK and Republic of Ireland" 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)" Objectlves and actlvltles The charity was established for the followlng purposes: To protect and promote the health of the public, in particular by: facilitating the prevention and management of hereditary cancers; and facilitating access to information and services needed to support members of the public who are at increased risk of hereditary cancers and thelr families. In establishing the activities of the charity, the directors have given due consideration to the Charity Commission's guidance regarding the provision of public benefit. Public benefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and perforniance Significant activities and achievements against objectives During the year, Cancestry prlmarily focused on establishing the infrastructure to support delivery of thelr key activities in furtherance of its charitable objects: Cancestry successfully applled to the Charity Commisslon to be recognised as a registered charity, established key policies to help ensure good governance, and employed an Executive Director. Two part-time staff an administrator and a research and development manager were also recruited to support charity operations and project development. Software systems were sourced, configured and staff onboarded to enable efficient contact management and fundraising (Beacon database) and support bookkeeping (Xero). In addition, a charity website was created to provide an onllne presence and Infonnation about Cancestry. In terms of progressing the core Hereditary Cancer resource project: Eight dinical specialists have been recruited as expert advisors to share their knowledge and experience to review resources produced by the charity and help ensure reliability. A partnership with North Central London Cancer Alliance has been established to pilot the Hereditary Cancer information and signposting resource and facilitate healthcare professional engagement designed to encourage uptake of the service by those in need. Cancestry was accepted as a partner organisation with FORCE (established hereditary cancer charity in the USA), enabling sharing of resources in support of mutual goals. Fundraising activities expanded resultlng in total Income commltted reachlng £86,797, almost four tlmes that raised in the previous year and procedures have been put in place to consolidate fundraising efforts going forward. The trustees consider that these activities have dlrectly contributed to the charity's aims and provlded clear public benefrt. Flnanclal revlew As of 31.8.25 the charity held total funds of £42,701. This income was primarily generated through donations.
CANCESTRY Trustees, Report FOR THE YEAR ENDED 31 AUGUST 2025 ReseNes policy Trustees aim to maintain a reserve of £35,000 or at least 3 months of core costs to ensure the continued development of the charity and its activitles, particularly piloting of Hereditary Cancer resource. Trustees deem the current level of reserves sufficient for the charity's current scale of operations. Principal funding sources The charity receives most of its fvnding from donations and claims gift aid where applicable. Results of the year The financial statements for the year are set out in pages 6 to 15. The statement of Financial Activities on page 6 reflects a surplus of £19,788 cumulative. (previous year- surplus of £9,320 in the year. Plans for future periods The next year will focus on development and piloting of the Hereditary Cancer infomation and signposting key areas. Sections from the resource content map, infonned by scoping and other research, are already being drafted. Cancestry has been speaking with digital platform developers to create an easy-to-navigate, accessible digital resource, a contract has been agreed with the provider that best fits the project needs and budget to establish the resource ready for piloting. Patient and Publlc Involvement (PPI) representatives are being recruited to provide Onput throughout the development process of the resource to ensure that its content and accessibility will effectivety meet the needs of a variety of potential service users. A focused engagement strategy and marketing programme with assets are planned to support uptake of the resource by those who would benefit within the areas covered by the North Central London Cancer Alliance region and beyond leading to the service launch In 2026. Organisational development will continue to support the expanded activities of the charity, including increasing human resources for project delivery and appointment of new Trustees to improve the govemance structure. In parallel, there will be an increased focus on fundraising, expanding income diversity and applications submissions to secure the funds needed for charity planned activities as well as improving reserves for the future. Structure, governance and management Cancestry ("the charity.) is a recognised charity (no.1210690) reglstered with the Charity Commisslon for England and Wales. The charity was a company limited by guarantee (no. 14281232) prior to 30 Sep 2025, govemed by its Memorandum and Articles of Association. It was incorporated as Wecan Alliance on 8 Aug 2022 and changed its name to Cancestry on 24 Apr 2024. On 30 Sep 2025, the charity received approval from the Charity Commission to transfer its structure from a Charitable Company to a Charltable Incorporated Organlsatlon (CIO) and is now govemed by a Foundation Constitution approved by Trustees.
CANCESTRY Trustees, Report FOR THE YEAR ENDED 31 AUGUST 2025 The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Dr Z Avitsl Caroline Jane Presho Professor Jonathan Andrew Ledemiann Paul Martin Wnbum Israel Joel Lee Davis Stephen Deitch Recruitment and appointment of tnjstees Cancesty has six trustees appointed in accordance with their governing document and based on their ability to contribute to the charity's strategic goals of the charity. Trustees are all familiar wth the goveming document, the thanty's purpose. values and activities as well as their govemance responsibilities. Ststement on risk Trustees are assessing the major risks to which the charity is exposed on an ongoing basis and establishing systems and procedures to mitigate those identified. The report was ap roved by the Board of Trustees. um Israel Stephen Deitch Date: ....2¥...J. ?02{•
CANCESTRY STATEMENT OF RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2025 The trustees are responsible for preparing the financial statements in accordance with applicable law and United Kingdom generally accepted accounting practlce, which gives a true and fair view of the state of the charity's affairs and of its profit and loss for that period. In preparing these financial statements, the trustees are required to: Select suitable accountlng pollcles and then apply them conslstentty; Observe the methods and principles in the Charities SORP; Make judgements and estimates that are reasonable and prudent; State whether applicable accounting standards and statements of recommended practice have been followed; Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business; Ensure that proper accounting records are kept; Safeguard the assets of the charity; Take reasonable steps to prevent and detect fraud and other irregularities. Prior to 30 Sep 2025, the charity was a company limited by guarantee (no. 14281232). The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ensure that financial statements comply with the Companies Act 2006.
CANCESTRY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CANCESTRY I report to the trustees on my examination of the financial statements of CANCESTRY (the charity) for the year ended 31 August 2025. Responslbllltles and basls of report As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are ellgible for independent examination, I report In respect of my examlnatoon of the charity's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under sectlon 145(5)(b) of the Charities Act 2011. Independent examlnerfs statement Since the charity's gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. 1 confimi that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that In any material respect: accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006. the financlal statements do not accord with those records; or the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requlrement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or the financlal statements have not been prepared in accordance wilh the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Flnancial Reportlng Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Andrew Millet BA MBA FCA The Institute of Chartered Accountsnts In England and Wales clo Millet Audit Ltd Beyond Aldgate Tower 2 Leman Street Aldgate London E18FA ,, 201£
CANCESTRY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2025 Unrestrlcted funds 2025 Restrlcted funds 2025 Totsl Unrestrlcted funds 2024 2025 Notes Income from: Donations and legacies Gift Aid Grant-corporate Investments 58,672 9,125 58,672 9,125 5,000 374 18,850 4,088 5,000 374 Total income 68,171 5,000 73,171 22,938 Expendlture on: Charitable activities 62,703 62,703 13,618 Total expenditure 62,703 62,703 13,618 Net income and movement in funds 5,468 5,000 10,468 9,320 Reconciliation of funds: Fund balances at 1 September 2024 9,320 9,320 Fund balances at 31 August 2025 14,788 5,000 19,788 9,320 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from contlnulng activities. The notes on pages 9 to 15 form part of these financial statements.
CANCESTRY BALANCE SHEET AS AT31 AUGUST2025 2025 2024 Note8 Current assets Cash at bank and In hand 42,701 9,320 Credltors: amounts falling due wlthln one year 11 (22,913) Net current assets 19.788 9,320 The funds of the charity Restricted income funds Unrestricted funds 13 14 5,000 14,788 9,320 19.788 9,320 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2025. The directors acknowledge their responsibilitles for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared In accordance with the provision8 applicable to companies subject to the small companies regime. Paul M /--//,,-/'- rtin Winbum I Stephen Deitch
CANCESTRY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025 2025 2024 Notes Cash flows from operatlng actlvltles Cash generated from operatlons 16 33,007 9,320 Investlng activltles Investment income received 374 Net cash generated from Investlng actlvltles 374 Net cash generated from flnanclng actlvltles Net Increase In cash and cash equlvalents 33,381 9,320 Cash and cash equlvalents at beglnnlng of year 9,320 Cash and cash equlvalents at end of year 42,701 9.320
CANCESTRY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng pollcles Charity Infomiation CANCESTRY is a private company limited by guarantee incorporated in England and Wales. The registered office Is 6 Park Avenue, London, N3 2EJ. Change of Legal Structure On 30 September 2025, the charity received approval from the Charity Commission for England and Wales to transfer its legal structure from a Charitable Company to a Charitable Incorporated Organisation (CIO). 1.1 Basis of preparatlon The financlal statements have been prepared In accordance with the charity's govemong document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accountlng and Reporting by Charitles: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard appllcable In the UK and Republlc of Ireland (FRS 102)" The charity is a Publlc Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the chanty. Monetary amounts In these financlal statements are rounded to the nearest £. The financlal statements have been prepared under the hlstorical cost convention. The princlpal accounting policies adopted are set out below. 1.2 Golng 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 concem basis of accounting in preparing the financial statements. 1.3 Charltsble funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted fvnds 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. 1.4 Income Income is recognised when the charity is legalty 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 donatlon, unless perfomiance condltlons requlre deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognlsed at the time of the donation. Legacies are recognised on recelpt 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.
CANCESTRY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng pollcles (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructlve obligation to transfer economic benefit to a third paty, 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 equlvalents Cash and cash equivalents Include cash In hand, deposits held at call with banks, other short~temi 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 receNable within one year are not amortised. Basic financial liabilities Basic financial liabillties, 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 operatlons from suppliers. Amounts payable are classified as current liabllities 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 amortlsed cost uslng the effective interest method. Derecognltion of financial liabillties Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.7 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised Immedlately as an expense when the charlty is demonstrably committed to temiinate the employment of an employee or to provide termination benefits. 10-
CANCESTRY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Crltlcal accountlng estlmates and Judgements In the application of the charity's accountlng pollcles, the trustees are requlred to make Judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and assodated assumptions are based on hlstorical 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Income from donatlons and legacles Unrestricted funds 2025 Unrestricted funds 2024 Donations and gifts 58,672 18,850 Income from Investments Unrestrlcted Unrestrlcted funds funds 2025 2024 Interest receivable 374 Expenditure on charitable actlvltle8 Unrestrlcted Unrestrlcted funds funds 2025 2024 Dlrect costs Staff costs Charity development 38.958 5,250 10,500 44,208 10,500 Share of support and governance costs (see note 6) Support Govemance 14,541 3,954 3,118 18,495 3,118 Analysls by fund Unrestricted funds 62,703 13,618 11
CANCESTRY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Support costs allocated to actlvltles 2025 2024 Administrative support Advertising & matheting Conference costs Employers national insurance General expenses Insurance IT software and consumables Legal expenses Pensions costs Prinllng & statlonery Research and development Specialist consultancy Governance costs 915 3,702 1,573 937 50 26 242 213 42 907 23 7,570 195 3,954 1,163 18,495 3.118 Governance costs comprfse: 2025 2024 IE fees Accountancy 2,100 1,854 3,954 Net movement In funds 2025 2024 The net movement in fvnds Is stated after chargingl(creditlng): Fees payable for the Independent examination of the charity's financial statements Fees payable to the charity's independent examiner: for the independent examlnation of the charlty's financial statements for preparation of financial statement 2,100 1,338 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. 12-
CANCESTRY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Employees The average monthly number of employees during the year was: 2025 Number 2024 Number Total Employment costs 2025 2024 Wages and salaries Social security costs Other pension costs 38,958 937 907 40,802 There were no employees whose annual remuneration was more than £60,000. 10 Taxatlon The charfty Is exempt from taxatlon on Its actlvlties because all Its Income Is applled for charltable purposes. 11 Credltors: amounts falllng due wlthln one year 2025 2024 Notes Other taxation and social security Deferred income Other creditors Accruals 2,752 14,000 2,723 3,438 12 22,913 12 Deferred Income 2025 2024 Other deferred Income 14,000 Deferred income is included in the financlal statements as follows: 2025 2024 Deferred income is Included within: Current liabilities 14,000 Movements in the year. 13-
CANCESTRY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 12 Deferred Income (Continued) Deferred Income at 1 September 2024 Resources deferred in the year 14,000 Deferred income at 31 August 2025 14,000 13 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At1 September 2024 Incomlng At 31 August resources 2025 Restricted fvnds 5,000 5,000 14 Unrestrlcted 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 fvnds by the trustees for specific purposes. At1 September 2024 Incomlng resources Resources At 31 August expended 2025 General funds 9,320 68,171 (62,703) 14,788 Prevlou8 year: At1 September 2023 Incomlng re80urce8 Resources At 31 August expended 2024 General funds 22,938 (13,618) 9,320 15 Related party tran8actlon8 Durlng the year the charity entered Into the followlng transactlons wlth related partles: 2025 2024 Donation recevied from Directors family 36,000 14-
CANCESTRY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 16 Cash generated from operatlons 2025 2024 Surplus for the year 10,468 9,320 Adjustments for: Investment Income recognlsed In statement of flnanclal actlvltles Movements In worklng capltal: Increase in ¢dItorS Increase In deferred income (374) 8,913 14,000 Cash generated from operatlons 33,007 9,320 15-