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2021-06-30-accounts

Registered Charity Number:265985

CANCER PREVENTION RESEARCH TRUST

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

CANCER PREVENTION RESEARCH TRUST

REPORT AND FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2021

CONTENTS

DESCRIPTION PAGE NO.
TRUST INFORMATION 2
TRUSTEES ANNUAL REPORT 3 – 6
INDEPENDENT EXAMINER’S REPORT 7
STATEMENT OF FINANCIAL ACTIVITIES 8
BALANCE SHEET 9
STATEMENT OF CASH FLOWS 10
NOTES TO THE ACCOUNTS 11 – 18

1

CANCER PREVENTION RESEARCH TRUST

TRUST INFORMATION FOR THE YEAR ENDED 30 JUNE 2021

Trustees: Mr. R. O’Connor
Mr. K. Shanshol
Registered Charity Number: 265985
Place of Business: Cobden House
231 Roehampton Lane
London
SW15 4LB
Accountants: Ossmans Ltd
Chartered Accountants
591 London Road
Cheam
Sutton
Surrey
SM3 9AG
Solicitors: Russell-Cooke
7 Putney Hill
London
SW15 6AB
Bankers: NatWest
P.O. Box 13309
134 Aldersgate Street
London
EC1A 4AJ
Nationwide
95 King Street
London
W6 9JN

2

CANCER PREVENTION RESEARCH TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 30 JUNE 2021

The Trustees present their report with the financial statements for the year ended 30[th ] June 2021.

Principal activities

The principal activities of the trust during the year was to raise money in order to continue with its principal objectives. These objectives are to advance medical research and, in particular, research into the prevention of cancer oncogenesis and associated malignant diseases, and to publish the results of such research.

Aims of the Trust

The objective of the Trust is to create grants for leading edge research in the UK for cancer prevention. We believe action to prevent the onset of cancer in patients before they are admitted to hospital may be more productive in reducing the spread of the disease, as opposed to investment in the use of postdiagnosis medicines.

The Trustees confirm that they have referred to the Charity Commission’s guidance on public benefit in planning future activities and objectives.

Main activities of the Trust

Performance Monitoring

Success is measured by the income generated from our present internet advertising campaign, and the outcomes of Scientific Research programmes conducted by Medical Research teams who have received our grants generated by advertising. We hope to keep all Trust expenditure, salaries and building maintenance less than 30%, advertising 30% and grants given out to our Cancer Research Teams to be 40% of all income.

3

CANCER PREVENTION RESEARCH TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 30 JUNE 2021

Review of year

The Trust provides information to the public on cancer prevention, as well as supporting research at teaching hospitals and other establishments.

During the year the Trust received £398,494 in donations and legacies (2020 - £140,868). It provided £97,500.00 grants (2020 - £100,000.00) to universities for medical research, and in the current year, this was allocated between the following universities: University of East Anglia - £30,000.00, University of Manchester £40,000.00 and University of Leicester - £27,500.00.

The Trust continues to publish its Newsletter “Cancer Prevention and Health News”. The Trust advertises by use of the website https.//www.cancerpreventionresearch.co.uk/ , Lecture Note for Solicitor’s magazine, Yell on-line directory and the Newsletter.

We have recently increased our internet presence.

One of the research projects we funded has received an award in 2017 and some other projects were published and received acknowledgement in peer reviewed well respected scientific papers.

Reserves

The Trust holds reserves of £3,084,975.00 (2020 – 2,987,368.00). Of these reserves, £454,802.00 (2020 - £454,240.00) are employed in providing the Trust with property and tangible assets for the operation of the Trust’s activities. The balance of the Trust’s reserves is being accumulated for the planned construction of a Laboratory at Cobden House.

Grants Policy

We search the latest scientific papers at UK universities and offer grants support where we see key research projects relevant to a preventative approach to cancer reduction in the population. There have been three main universities benefitting from our grants, namely, East Anglia, Manchester and Leicester.

Volunteers

Presently, there are two volunteer running our local shop.

Investment Policy

The Charity operates an investment policy that carries low risk.

4

CANCER PREVENTION RESEARCH TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 30 JUNE 2021

Fund Raising Policy

The principal source of income is from legacies and donations generated through on-line advertising.

The Trust is successful in raising income from internet marketing and we do expect material expenditure associated with this activity to have a positive impact on current and future fundraising.

Risks

Due to fluctuations in legacies, there could be a period in which less money is collected by the Trust. This could potentially put keeping up our payments at risk. However, to ensure the prevention of this, sufficient money is held back in reserve to meet these commitments. Furthermore, to keep a balance, we are trying to increase other means of raising funds through other forms of donations and by selling goods in our shops.

A decrease in donations and legacies we receive from the public could affect future financial performance, and thus have consequences on the fulfilment of the Charity’s objectives.

Future Plans

To consolidate our internet profile.

Make our contact with the public more interactive using Mobile phone applications on self-monitoring (looking for very early cancer signs).

The Trust plans to maintain grants awarded in future periods to meet the target of 40% of income.

The planned construction of the laboratory at Cobden House is on hold due to the construction of residential properties adjacent to the planned construction site. There are restricted funds of £1,703,178.00 at the year-end held for this purpose.

Structure, governance and management

The Charity is a registered charity, number 265985, registered with the Charities Commission. The Charity is controlled by its Trust Deed and constitutes an unincorporated charity.

Organisation Structure

The Charity makes decisions through discussions with all the Trust staff and Trustees by brainstorming sessions, and then by advice from our Legal and Financial advisors. Structural steps for decisions are: meetings with staff; legal and financial advisor meetings; minuted meetings; and then action.

5

CANCER PREVENTION RESEARCH TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 30 JUNE 2021

Recruitment and Training Policy

The Trustees will internally advertise all vacant positions to current staff and volunteers to enable career advancements and increased participation. The prime trustee has the authority to appoint new trustees. The Trust aims to provide a framework for training and development that ensures staff have the necessary competencies to deliver the Trust strategy. Trustee training is achieved by access to gov.uk charity guidance and in-house workshops held by solicitors Russell-Cooke.

Trustees

No trustees are remunerated by the Trust.

Trustees’ Responsibilities

Current legislation requires Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Trust and of the surplus or deficit for that period.

In preparing these financial statements, the trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Trust and, hence, for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure of information to the Independent Examiner

So far as the trustees are aware, there is no relevant information of which the charity’s accountants are unaware and each trustee has taken all the steps that he or she ought to have as a trustee in order to make himself or herself aware of any relevant information and to establish that the Charity’s accountants are aware of that information.

The report was approved by the Board of Trustees on 08 April 2022 and signed by:

…………………………………………… …………………………………………..

Trustee Mr. R O’Connor Trustee Mr. K. Shanshol

6

CANCER PREVENTION RESEARCH TRUST

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES YEAR ENDED 30 JUNE 2021

I report on the accounts of the Trust for the year ended 30 June 2021, which are set out on pages 8 to 10.

Respective responsibilities of Trustees and Examiner

The Charity’s trustees are responsible for the preparation of the accounts. The Charity’s trustees consider that an audit is not required for this under Section 144(2) of the Charities Act 2011 and that an independent examination is needed.

It is my responsibility to:

Basis of Independent Examiner’s Report

My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.

Independent Examiner’s Statement

In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that all material respects the requirements:

‘to keep accounting records in accordance with Section 130 of the 2011 Act, and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act’ have been met.

Ossmans Ltd 08 April 2022 Chartered Accountants 591 London Road Cheam Sutton SM3 9AG

7

CANCER PREVENTION RESEARCH TRUST

STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 30 JUNE 2021

Unrestricted Restricted Restricted Total Total
Funds 2021 Funds 2021 Funds 2021 Funds 2020
£ £ £ £
Income
Donations & Legacies
Donations received 58,042 - 58,042 40,727
Legacies received 340,452 - 340,452 100,141
Income from charitable activities
Sales of donated goods 2,648 - 2,648 3,423
Investment income 184 - 184 8,106
Total income 401,326 - 401,326 152,397
Expenditure on
Fund raising and publicity (44,472) - (44,472) (35,388)
Charitable activities
Total Expenditure		 (260,347)
(304,819)		 -
-		 (260,347)
(304,819)		 (257,998)
(293,386)
Other interest receivable and 604 - 604 5,786
other income
Net gains/(loss) on investments 496 - 496 (946)
Net movement of funds 97,607 - 97,607 (136,149)
Reconciliation of funds
Total funds brought forward 1,284,190 1,703,178 2,987,368 3,123,517
Net movement of funds 97,607 - 97,607 (136,149)
Total funds carried forward 1,381,797 1,703,178 3,084,975 2,987,368

All the activities of the company are from continuing operations.

8

CANCER PREVENTION RESEARCH TRUST STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2021

Fixed assets
Note
Tangible assets
2
Investments
3
Current assets
Debtors
4
Cash at bank and in hand
Creditors: amounts falling
due within one year
5
Net current assets
Total assets less
liabilities
current
Capital and reserves
Profit and loss account
11
Shareholders funds		 2021
£
454,802
1,746
476
2,647,627
2,648,103
(19,676)		 £
456,548
3,096,135
3,084,975
3,084,975
3,084,975		 2020
£
454,240
1,250
442
2,544,662
2,545,104
(13,226)		 £
455,490
2,531,878
2,987,368
2,987,368
2,987,368

These financial statements were approved by the board of trustees and authorized to issue on 08 April 2022, and are signed on behalf of the board by:

………………………………………………..

Mr. K. Shanshol

Trustee

9

CANCER PREVENTION RESEARCH TRUST STATEMENT OF CASH FLOW YEAR ENDED 30 JUNE 2021

2021 2020
£ £
Cash flows from operating activities
Cash absorbed by operations 105,179 (143,515)
Cash flows from investing activities
Purchase Plant and machinery (2,398)
Dividends, interest and rents from investments 184 8,106
Net cash from investing activities (2,214) 8,106
Net increase in cash and cash equivalents 102,965 (135,409)
Cash and cash equivalents at beginning of the year 2,544,662 2,680,071
Cash and cash equivalents at the end of the year 2,647,627 2,544,662
Components of cash and cash equivalents
Cash and bank balance 2,647,627 2,544,662

10

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE

CANCER PREVENTION RESEARCH TRUST

2021

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) – Charities SORP (FRS 102) (effective 1 January 2019) and the Charities Act 2011. The accounts (financial statement) have been prepared under the historical cost convention with items recognized at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The Trust constitutes a public benefit entity as defined by FRS 102.

The accounts are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £1.

Going concern

The accounts are prepared on a going concern basis.

Income

Income is included in the Statement of Financial Activities (SoFA) when the Charity becomes entitled to, and virtually certain to receive, the income, and the amount of the income can be measured with sufficient reliability. Legacy gifts are recognized on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and the settlement date. Voluntary income received by way of grants, donations and gifts is included in the SoFA when receivable and only when the Charity has unconditional entitlement to the income. The Trust recognized income from goods on sale.

Expenditure

Recognized expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on raising funds comprise the cost associate with attracting voluntary income fundraising cost and investment management costs. Expenditure on charitable activities comprise the cost incurred by the Charity in the delivery of its activities and services in the furtherance of its objectives, including the making of grants and governance costs.

11

NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 30 JUNE 2021

CANCER PREVENTION RESEARCH TRUST

1 Accounting Policies (continued)

Expenditure (continued)

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity, including the independent examination fees, costs linked to the strategic management of the Charity, together with the share of other administration costs.

Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Trust. In case of an unconditional grant offer, this is accrued once the recipient has been notified of the grant award. Provisions for grants are made when the intention to make a grant has been communicated to the grant recipient but there is uncertainty as to the meeting of the grant terms.

Taxation

The Charity is exempt from tax on its charitable activities.

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Plant and machinery

Furniture and equipment 25% on reducing balance basis

Motor van 25% on reducing balance basis

The Trustees are of the opinion that no depreciation is charged on the freehold properties.

Debtors

Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise at bank and in hand, demand deposits with banks and other shortterm highly liquid investments, with original maturities of three months or less, and bank overdrafts. In the statement of financial position, bank overdrafts are shown within creditors. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the trust cash management.

12

NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 30 JUNE 2021

CANCER PREVENTION RESEARCH TRUST

1 Accounting Policies (continued)

Creditors and provisions

Creditors and provisions are recognized where the charity has obligations resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognized at their settlement amount after allowing for any trade discounts due.

Investments policy

Investments are a form of basic financial instrument and are initially recognized at their transaction value and subsequently measured at their fair value as at their balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

Realized gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realized gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealized gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realized and unrealized investment gains and losses are combined in the Statement of Financial Activities.

Pension Costs

The Charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognized as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Funds

Restricted funds are funds which are to be ued in accordance with specifications imposed by the donor or trust deed. There is a single restricted fund (Cobden House Fund) earmarked for the construction of the Laboratory at Cobden House.

Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objectives. Unrestricted funds include designated funds where the trustees, at their discretion, have created a fund for a specific purpose.

13

CANCER PREVENTION RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 30 JUNE 2021

2
Tangible assets
Cost
At 1 July 2020
Additions
At 30 June 2021
Depreciation
At 1 July 2020
Charge for the year
At 30 June 2021
Carrying amount
At 30 June 2021
At 30 June 2020
3
INVESTMENTS
Cost
At 1 July 2020
Fair value adjustment
At 30 June 2021
Impairment
At 1 July 2020 and30 June 2021
Carrying amount
At 30 June 2021
At 30 June 2020		 Freehold
property
£
Plant and
machinery
£
Fixtures,
fittings and
equipment
£
449,294
66,621
28,804
- 2,398

449,294
69,019
28,804
-
62,463
28,016
-
1,639
197
-
64,102
28,213
449,294
4,917
591
449,294
4,158
788
Ordinary shares at listed
investments at market
value
£
1250
496
1,746
-
1,746
1,250		 Total
£
544,719
2,398
547,117
90,479
1,836
92,315
454,802
454,240
Total
£
1250
496
1,746
-
1,746
1,250

14

CANCER PREVENTION RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 30 JUNE 2021

4
DEBTORS
Prepayments
5
CREDITORS
Amounts falling due within one year
Social security and other taxes
Other creditors
6
ANALYSIS OF CHARITABLE EXPENDITURE
Staff costs
Grants awards
Property expenses
Insurance
Depreciation
Other costs
Legal and professional
Accountancy fees		 2021
£
476
476
2021
£
5,320
14,356
19,676
2021
£
117,099
97,500
29,578

2,893
1,836

4,175
1,866
5,400
260,347
 2020
£
442
442
2020
£
13,226
13,226
2020
£
111,242
100,000
20,166
5,024
1,718
8,597
5,931
5,320
257,998		 2020
£
442
442
2020
£
13,226
13,226

7 ANALYSIS OF GRANTS

In the year, the following grants were made to institutions for medical research:

University of East Anglia
University of Manchester
University of Leicester		 2021
£
30,000
40,000
27,500
97,500		 2020
£
10,000
-
90,000
100,000

15

CANCER PREVENTION RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 30 JUNE 2021

8 ANALYSIS OF STAFF COST AND REMUNERATION

Salaries and wages
Social security costs
Other pension cost		 2021
£
96,086
9,853
11,160
117,099		 2020
£
94,000
9,343
7,899
111,242

The average number of employees during the year 2021 - 3 (2020 – 2) with all employees providing either support to the governance of the Charity, or support services to charitable activities. No employees received total employee benefits of more than £60,000.00.

9 RELATED PARTY

No remuneration was paid to the trustees in the year 2021 (2020 - Nil).

10 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Current year
Unrestricted
funds
£
Restricted funds
£
Fixed assets
454,802
1,746
Net current assets
927,699
1,701,928
Long term liabilities
(1,200)
0
1,392,461
1,703,674
Prior year
Fixed assets
454,240
1,250
Net current assets
831,150
1,701,928
Long term liabilities
(1,200)
0
1,284,190
1,703,178		 Total
£
456,548
2,629,627
(1,200)
3,084,975
455,490
2,533,078
(1,200)
2,987,368

Restricted funds are made up of the Cobden House Fund earmarked for the construction of the Laboratory at Cobden House.

16

CANCER PREVENTION RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 30 JUNE 2021

11 ANALYSIS OF MOVEMENTS IN FUNDS

Current year
Unrestricted funds
Restricted funds
Cobden House fund
Prior yield
Unrestricted funds
Restricted funds
Cobden House Fund		 Balance
1.7.2020
£
1,284,190
1,703,178
2,987,368
Balance
1.7.2019
£
1,427,499
1,696,018
3,123,517		 Income
£
401,326
Expenditure
£
(304,819)
Gains/losses
£
1,100
-
401,326
-
(304,819)
-
1,100
Income
£
Expenditure
£
Gains/losses
£
144,291
(293,386)
5,786
8,106
152,397
-
(293,386)
(946)
4,840		 Balance
30.6.2021
£
1,381,797
1,703,178
3,084,975
Balance
30.6.2020
£
1,284,190
1,703,178
2,987,368
12
CASH GENERATED FROM OPERATIONS
Cash flows from operating activities
Profit/(loss) for the financial year
Adjustments for:
Depreciation
Investment income
(Gains)/Loss on investment
Movement in working capital:
(Increase)/decrease in debtors
Increase/(decrease) in creditors

Net cash used operating activities		 2021
£
97,607
1,836
(184)
(496)
(34)
6,450
105,179		 2020
£
(136,149)
1,718
(8,106)
946
89
(2,013)
(143,515)

17

CANCER PREVENTION RESEARCH TRUST

STATEMENT OF FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2021

2021 2020
£ £
INCOME
Donations 58,042 40,727
Legacies 340,452 100,141
Sales of donated goods 2,648 3,423
Interest received 184 8,106
Dividends received 0 0
401,326 152,397
Other income 604 5,7~~8~~6
401,930 155,~~1~~10
EXPENDITURE
Staff salaries and pensions 117,099 111,242
Grants 97,500 100,000
Advertising 44,472 35,388
Printing, postage and stationery 1,317 1,067
Light and heat 1,116 1,705
Telephone and Internet 2,132 2,473
Rates and Water 7,378 8,164
Legal and Professional 1,866 5,931
Accountancy 5,400 5,320
Service charges 80 -
Repairs and maintenance, Renewals 12,182 887
Insurance 2,893 5,024
Cleaning 2,838 2,301
Computer and equipment costs 1,466 1,294
Book publications and subscriptions 1,205 7,990
Credit card charges - 20
Sundries 1,663 587
Hire of equipment 2,375 2,275
Loss on revaluation of investments - 946
Gain on revaluation of investments (496)
Lease - -
Depreciation of tangible assets 1,836 1,718
304,323 294,332
Excess of income over expenditure 97,607 (136,149)

18

CANCER PREVENTION RESEARCH TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 3D JUNE 2021

19