2023-03-31-accounts - British Association For Cancer Research

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BRITISH ASSOCIATION FOR CANCER RESEARCH

Registered Charity No.289297

Accounts for the period 1st April 2022 to 31st March 2023

President

Prof. Karen Vousden

Chair

Prof. Ingunn Holen

Honorary Treasurer

Prof. Amanda Harvey

Honorary Secretary

Prof. Valerie Speirs

Secretariat

Janet Alexander Leeds Institute of Medical Research at St James's Cancer Genetics Building St James's University Hospital Beckett Street Leeds LS9 7TF

Bankers

National Westminster Bank PLC 501 Silbury Boulevard Saxon Gate East Central Milton Keynes MK9 3ER

Independent Examiners

BPR Heaton Chartered Accountants Glenewes House, Gateway Drive Yeadon LS19 7XY

BRITISH ASSOCIATION FOR CANCER RESEARCH

Contents of the

Accounts for the period 1st April 2022 to 31st March 2023

	Page
Trustees' Report	1
Independent Examiners' Report	3
Statement of Financial Activities	4
Balance Sheet	5
Notes to the Accounts	6
Income and Expenditure Account	9

BRITISH ASSOCIATION FOR CANCER RESEARCH

TRUSTEES' REPORT FOR THE YEAR ENDED 31[ST] MARCH 2023

Reference and Administrative Details of the Charity, its Trustees and Advisors

There are three officers of the Association: The Chairman, The Honorary Secretary and The Honorary Treasurer. The Chairman is an ordinary member who is elected to office annually for a maximum threeyear term by the ordinary members at an Annual General Meeting; The Honorary Secretary and Honorary Treasurer are both ordinary members, elected by the ordinary members present at the Annual General Meeting; both serve until the next Annual General Meeting and are eligible for re-election up to a maximum term of five years. There is a one-year overlap between the final year of the current officer’s term of office, and the first year of the newly appointed officer (termed officer-elect for this period). This overlap period facilitates smooth transition between officer posts and their successors. The Association's Executive Committee consists of the three Officers of the Association (plus any officer-elects), plus nine ordinary members elected as described in the Rules. Provision is also made to co-opt member(s) where specific expertise is required. The President holds a non-executive position, is not a trustee and is elected for a four-year term.

For the accounting period the BACR Executive comprised of: Professor Karen Vousden (President), Professor Ingunn Holen (Chair), Professor Valerie Speirs (Honorary Secretary), Professor Amanda Harvey (Honorary Treasurer), Tim Fenton, Iain Hagan, John Marshall, Alan McIntyre, Martin Miller, Munitta Muthana, Lesley Stark, Stephen Tait and Viia Valga-Archer.

Newly elected trustees are supplied with documentation, obtained from the Charity Commission, outlining their responsibilities as trustees of the Charity. They, along with pre-existing trustees, are also regularly updated with Charity Commission News. The association is also a member of the National Council of Voluntary Organisations (NCVO) that keeps it informed of relevant voluntary sector and charity information.

Structure, Governance and Management

The Association is constituted as an unincorporated association, and its governing document is its constitution. The BACR has a charitable registration number (289297) and its principal address during this reporting period was BACR Secretariat, c/o Leeds Institute of Medical Research, at, St. James’s Cancer Genetics Building, St James’s University Hospital, Beckett Street, Leeds, LS9 7TF.

The Association maintains its own Secretariat: Mrs Janet Alexander (based within the Leeds Institute of Medical Research at St James) who was appointed as the BACR Administrative Secretary on 1[st] January 2010.

Applicable law requires the trustees to prepare for each financial year accounts that give a true and fair view of the state of affairs of the Association and the surplus or deficit of the Association for that period. In preparing those accounts the Trustees are required to:

select suitable accounting policies and then apply them consistently
make judgements and estimates which are reasonable
prepare the accounts on a going-concern basis unless it is inappropriate to presume that the Association will continue in business

The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the Association and to enable them to ensure that the accounts comply with the Charities Act, 2011. They are also responsible for safeguarding the assets of the Association and hence for taking reasonable steps for the prevention of and detection of fraud and other irregularities.

The BACR accounts are scrutinized annually by Independent Examiners; their report is appended to this trustees’ report. A resolution to appoint Independent Examiners ahead of the next financial year will be put forward to the membership by the Honorary Treasurer, at the 2023 AGM.

Objectives and Activities

Under its Constitution, the Association's objects are for the promotion of the advance of research in relation to all aspects of cancer by encouraging the exchange of information. The policies adopted in furtherance of these are (i) the organising of meetings and workshops and (ii) the provision of funds to support BACR members in attending these and other such meetings. There has been no change in the remit of the BACR with respect to its activities during the reporting period with the caveat that the COVID19 pandemic has limited travel opportunities for its members.

Achievements and Performance

During the reporting period the Association held BACR 60[th] Anniversary meeting which had been delayed due to the COVID19 pandemic. This was in June 2022 at the Nottingham Conference Centre and, despite industrial action affecting rail travel, was well attended. Feedback was overwhelmingly positive with discussion that this may become a biennial event, although it is likely that the next occasion will be in 2025.

The 2022-23 financial year saw travel bursary applications return to pre-pandemic levels and the Association is delighted to announce that 48 awards worth a total of £32,329 were made to research students and established cancer researchers to present their work at international scientific conferences and visit overseas laboratories to learn new techniques. Some of these costs will be incurred during 2023-24 with a total of £32,329 being spent in the 2022-23 financial year.

Barbora Gaborova was appointed as the BACR communications officer on an 18-month part-time contract and has been working on updating our website.

Financial Review

The principal funding source for the association is its capital investment and membership subscriptions. The investment portfolio is managed with an ethical concern that prohibits funds being invested in any tobacco or tobacco-related companies and during the financial year the trustees also agreed that the Association should not invest in companies related to the production of alcohol. The portfolio management company delivers an annual report to trustees with additional advice being delivered, also in the form of an annual report, by an independent financial advisor. The Association does not currently have any social programme related investments. At March 2023, the investment portfolio, which began to recover from the impact of the pandemic during 2022-23, had a market value of £1,004,987. Given the association invested an additional £200,000 into the portfolio this represents an overall loss of £76,981 for the 2022-23 financial year. During the year, the Association received donations in the sum of £5,999 which is a decrease on the previous financial year but more in line with would normally expect to be received.

In the course of its normal activities, the BACR recorded an operating deficit for the year of £31,718. Given the increased staffing costs in 2022-23 (due to the appointment of a communications officer) this deficit is not surprising nor unplanned and is an improved position set in the context of a £71,180 deficit forecast. Appointment of the communications officer was a planned investment in response to the Association receiving significant legacies in the previous financial years.

Plans for the Future

Looking ahead to 2023-24, the Association is hosting a meeting to support those early on in their cancer research career with the ‘Trailblazers in Cancer Research; the Next Generation’ early career researcher meeting in Manchester (June 2023). The ever-popular Tumour Microenvironment meeting is making a return with its 3[rd] conference being held in Nottingham in September 2023.

In 2024 there are plans for a both Response and Resistance and Breast Cancer meetings and a broader cancer meeting (BACR 65[th] ) in 2025.

By order of the Executive Committee

Professor Amanda Harvey, Honorary Treasurer, BACR, 11 January 2024

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE

BRITISH ASSOCIATION FOR CANCER RESEARCH (CHARITY NO. 289297)

I report on the accounts of the Charity for the year ended 31st March 2023, which are set out on pages 5 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 year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

-to examine the accounts under Section 145 of the Charities Act,
-to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and
-to state whether particular matters have come to my attention.

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:

1 which gives me reasonable cause to believe that in, any material respect, the requirements: -to keep accounting records in accordance with section 130 of the Charities Act; -to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Stephen Hinchcliffe FCCA ACA BPR Heaton Chartered Accountants Glenewes House, Gateway Drive Yeadon LS19 7XY

11 January 2024

BRITISH ASSOCIATION FOR CANCER RESEARCH

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2023

Restricted Funds £ - - - -	Unrestricted Funds £ 5,999 84,097 21,112 55,847	Total Funds £ 5,999 84,097 21,112 55,847	Prior Period Total Funds £ 296,833 1,348 14,630 57,919
-	167,055	167,055	370,730
- 11,008 -	124,290 60,888 2,586	124,290 71,896 2,586	36,548 30,255 2,280
11,008	187,765	198,773	69,083
(11,008) -	(20,710) -	(31,718) -	301,647 -
- (11,008) -	- (20,710) (76,981)	- (31,718) (76,981)	- 301,647 22,896
(11,008) 48,374	(97,691) 1,574,561	(108,699) 1,622,935	324,543 1,298,392
37,366	1,476,870	1,514,236	1,622,935

BRITISH ASSOCIATION FOR CANCER RESEARCH

BALANCE SHEET AS AT 31ST MARCH 2023

Notes FIXED ASSETS 4 Investments Intangible assets Tangible assets CURRENT ASSETS Debtors 5 Cash at bank and in hand 6 CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS/ (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES INCOME FUNDS Restricted funds 8 Unrestricted funds	2023 £ 1,039,506 - - 1,039,506 4,808 510,422 515,230 40,500 474,730 1,514,236 37,366 1,476,870 1,514,236	2022 £ 916,487 - -
		916,487
		5,674 733,653
		739,327 32,879
		706,448
		1,622,935
		48,374 1,574,561
		1,622,935

The accounts were approved by the Honorary Treasurer on behalf of the Executive Committee.

Amanda Harvey - Honorary Treasurer Date: 11 January 2024

BRITISH ASSOCIATION FOR CANCER RESEARCH

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2023

1. ACCOUNTING POLICIES

Basis of accounting

The accounts have been prepared in accordance with the Statement of Recommended Practice, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard (FRS 102) issued by the Charity Commission.

Accounting convention

The accounts are prepared under the historical cost convention. The accounts include the results of the associations operations which are described in the Trustees' Report, all of which are continuing.

Fixed assets investments

Investments are included at market value.

Tangible fixed assets and depreciation

Fixtures and fittings are written off on a 15% reducing balance basis.

Intangible assets and amortisation

The website development cost has been amortised in full.

Restricted funds

The association has the following restricted fund;

The AstraZeneca Fund, which combines the Tom Connors AstraZeneca Fund with the Frank Rose Fund. This fund provides support for both annual BACR AstraZeneca Young Scientist Frank Rose Award Lecture.

Movements in this funds are detailed in Note 7 to the accounts.

Future meetings

Payments made and income received in respect of meetings to be held in a future year are carried forward to be brought into account in the year in which the meetings are held.

Deficit and surpluses on joint meetings

The association makes provision for the receipt, from third party organisers of meetings held during the year, and for payments to third party organisers for the Association's share of any deficits arising on such meetings, only when the sums involved can be accurately quantified, or have been either received or paid, as appropriate.

2. SUPPORT COSTS Committee travel expenses Governance Accountancy Costs University of Leeds - Employee costs Bank and PayPal charges 3 Investment gains/(losses) Market value carried forward Funds invested in the year Market value brought forward Gain/(loss) for the year Allocation 50% Charitable activities	2023 £ 246 2,340 78,082 703 81,371 1,039,506 (200,000) (916,487) (76,981)	2022 £ - 2,280 54,942 612
		57,834
		916,487 - (893,591)
		22,896

BRITISH ASSOCIATION FOR CANCER RESEARCH

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2023, continued

4. FIXED ASSETS Investments Market Value at 1st April 2022 Acquisitions at cost Disposals at cost Gains/(losses) in the period Unrealised gains/(losses) in the period Market Value at 31st March 2023 Cash holding at 31st March 2023 Historical cost at 31st March 2023 The Association's investments are managed by Quilter Cheviot Limited. Intangible Assets - Website Cost at 1st April 2022 and 31st March 2023 Depreciation at 1st April 2022 and 31st March 2023 Net Book Value at 31st March 2023 Tangible Assets Cost at 1st April 2022 Disposals in year At 31 March 2023 Depreciation at 1st April 2022 Charge for period Eliminated on disposal Accumulated depreciation at 31st March 2023 Net Book Value at 31st March 2023 5. DEBTORS Prepayments and accrued income 6. CASH AT BANK Current account Reserve account Astra - Zeneca Hamilton - Fairley Translational Award CREDITORS: Amounts falling due within one year 7. Creditors and accrued expenditure	2023 £ 916,487 351,661 (129,414) 28,238 (161,985) 1,004,987 34,519 1,039,506 852,851 20,304 20,304 - 1,971 (1,971) - 1,625 - (1,625) -	2022 £ 893,591 161,004 (140,464) 38,787 (77,059)
		875,859 40,628
		916,487
		630,605
		20,304
		20,304
		-
		1,971 (1,971)
		-
		1,625 (1,625)
		-
	- 4,808 100 493,464 13,602 781 2,475 510,422 40,500	-
		5,674
		150 716,645 13,602 781 2,475
		733,653
		32,879

BRITISH ASSOCIATION FOR CANCER RESEARCH

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2023, continued

8. RESTRICTED FUNDS Balance at 1st April 2022 Awards and costs Balance at 31st March 2023	Astra - Zeneca 48,374 (11,008)	Total 48,374 (11,008)
	37,366	37,366

9. RELATED PARTY TRANSACTIONS

The Charity is controlled by it's Trustees.

There have not been any material transactions with any related party during the year.

10.POST BALANCE SHEET EVENTS

The market value of Investments stated in note 3 as at 11 January 2024 was in the sum of £1,058,290 including cash holdings of £18,005.

BRITISH ASSOCIATION FOR CANCER RESEARCH

INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2023

Restricted Funds £ - - - - - - -	Unrestricted Funds £ 5,999 84,097 21,112 50,347 2,000 - 3,500	Prior Year Total Funds £ 296,833 1,348 14,630 39,919 - 16,000 2,000
-	167,055	370,730
- - - - - - 11,008 - - - - - -	75,686 39,041 6,391 2,821 352 - 21,321 175 39,041 352 - 246 2,340	49 27,471 7,601 948 306 173 2,138 167 27,471 306 173 - 2,280
11,008	187,765	69,083
(11,008)	(20,710)	301,647