| Page | |
|---|---|
| Reference and administrative details of the charity, its trustees and advisers | 3 -4 |
| Chairman’s Statement | 5 — 6 |
| Trustees’ Report | 7—18 |
| Independent Auditor’s Report | 19—22 |
| Consolidated Statement of Financial Activities | 23 |
| Consolidated Balance Sheet | 24 |
| Charity Balance Sheet | 25 |
| Consolidated Cash Flow Statement | 26 |
| Notes to the Financial Statements | 27 - 47 |
NORTH WEST CANCER RESEARCH (INCORPORATING CLATTERBRIDGE CANCER RESEARCH "CCR")
{A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2020 (continued)
DISCLOSURE OF INFORMATION TO AUDITOR
Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:
-
So far as that Trustee is aware, there is no relevant audit information of which the charitable Company's Auditor is unaware; and
-
That Trustee has taken all steps that ought to have been taken as a Trustee in order to be aware of any information needed by the charitable Company's Auditor in connection with preparing its reports and to establish that the charitable Company's Auditor is aware of that information.
AUDITOR
The Auditor, Crowe U.K. LLP, has indicated its willingness to continue in office.
This report was approved by the Trustees on 25 January 2021 and signed on their behalf by:
Chairman
18
25 January 2021
| Unrestricted | ||||||
|---|---|---|---|---|---|---|
| and total | Restricted | Total | Total | |||
| funds | funds | funds | funds | |||
| 2020 | 2020 | 2020 | 2019 | |||
| Note | £ | £ | £ | £ | ||
| INCOME FROM: | ||||||
| Donations and legacies | 2 | 1,327,439 | 3,000 | 1,330,439 | 1,389,300 | |
| Investment income | 3 | 211,552 | - | 211,552 | 410,955 | |
| TOTAL INCOME | 1,538,991 | 3,000 | 1,541,991 | 1,800,255 | ||
| EXPENDITURE ON: | ||||||
| Raising funds: | ||||||
| Fundraising and legacy generation costs |
509,029 | - | 509,029 | 670,520 | ||
| Investment management | 33,714 | - | 33,714 | 48,309 | ||
| Charitable activities | 6 | 1,629,963 | 3,225 | 1,633,188 | 3,104,952 | |
| TOTAL EXPENDITURE | 6 | 2,172,706 | 3,225 | 2,175,931 | 3,823,781 | |
| NET EXPENDITURE INVESTMENTGAINS |
BEFORE | (633,715) | (225) | (633,940) | (2,023,526) | |
| (Losses)/Gains on investments | (234,701) | - | (234,701) | 93,325 | ||
| NET EXPENDITURE TRANSFERS |
BEFORE | (868,416) | (225) | (868,641) | (1,930,201) | |
| Transfers between funds | ||||||
| NET MOVEMENT IN FUNDS | (868,416 | (225) | (868,641) | (1,930,201) | ||
| RECONCILIATION OF FUNDS | ||||||
| Total funds brought forward | 4,276,004 | 3,559 | 4,279,563 | 6,209,764 | ||
| TOTAL FUNDS CARRIED FORWARD |
3,407,588 | 3,334 | 3,410,922 | 4,279,563 |
25 January 2021
NORTH WEST CANCER RESEARCH (INCORPORATING CLATTERBRIDGE CANCER RESEARCH "CCR")
(A company limited by guarantee)
CHARITY BALANCE SHEET AS AT 30 SEPTEMBER 2020
| FIXED ASSETS Tangible assets Investments CURRENT ASSETS Stocks Debtors Cash at bank and in hand CREDITORS:amounts falling due in less than one year NET CURRENT LIABILITIES TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS:amounts falling due after more than one year NET ASSETS CHARITY FUNDS Restricted funds Unrestricted funds TOTAL FUNDS Note £ 10 11 12 17,126 13 691,460 667,320 1,375,906 14 {4,932,913) 15 17 17 |
2020 £ 5,917 9,288,498 |
f 10,142 634,867 282,801 |
2019 f 7,568 9,989,491 9,997,059 (2,556,416) |
|---|---|---|---|
| 9,294,415 {3,557,007) |
|||
| 927,810 (3,484,226) |
|||
| 5,737,408 {2,507,833) |
7,440,643 (3,357,985) |
||
| 3,229,575 3,334 3,226,241 |
4,082,658 3,559 4,079,099 |
||
| 3,229,575 | 4,082,658 |
The Company's Financial Statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The Financial Statements were approved and authorised for review by the Trustees on 25[th ] January 2021 and si ed on their behalf, by: Mu ��a� Treasurer Mr N S La c I �,�n
The notes on pages 27 to 47 form part of these Financial Statements
25
| Note | 2020 | 2019 | |
|---|---|---|---|
| £ | £ | ||
| Cash flows from operating activities: | |||
| Net cash used in operating activities | 19 | (252,145) | (1,622,848) |
| Cash flows from investing activities: | |||
| Dividends and interest from investments | 211,551 | 410,955 | |
| Purchase oftangible fixed assets | - | (8,256) | |
| Write off value offixed assets | |||
| Cash acquired | |||
| Proceeds from the sale of investments | 6,542,334 | 2,924,485 | |
| Purchase of investments | (5,893,256) | (2,571,543) | |
| Net cash provided by investing activities | 860,629 | 755,641 | |
| Change in cash and cash equivalents in the year | 608,484 | (867,207) | |
| Cash and cash equivalents brought forward | 642,433 | 1,509,640 | |
| Cash and cash equivalents carried forward | 20 | 1,250,917 | 642,433 |
| Group and Charity | Unrestricted | ||
|---|---|---|---|
| and total | Restricted | Total | |
| funds | funds | funds | |
| 2020 | 2020 | 2020 | |
| £ | £ | £ | |
| Legacies | 920,594 | - | 920,594 |
| Donations | 315,613 | 3,000 | 318,613 |
| Donations-in-kind | 39,867 | - | 39,867 |
| Coronavirus Job Retention Scheme Grant | 51,365 | - | 51,365 |
| Total donations and legacies | 1,327,439 | 3,000 | 1,330,439 |
| Group and Charity | Unrestricted | |||
|---|---|---|---|---|
| and total | Restricted | Total | ||
| funds | funds | funds | ||
| 2019 | 2019 | 2019 | ||
| £ | £ | £ | ||
| Legacies | 778,373 | - | 778,373 | |
| Donations | 555,216 | 4,000 | 559,216 | |
| Donations-in-kind | 51,711 | - | 51,711 | |
| Total donations and | legacies | 1,385,300 | 4,000 | 1,389,300 |
| 3. INVESTMENT INCOME | ||||
| Group and Charity | Unrestricted | |||
| and total | Restricted | Total | ||
| funds | funds | funds | ||
| 2020 | 2020 | 2020 | ||
| £ | £ | £ | ||
| Investment income | — listed investments | 211,111 | - | 211,111 |
| Investment income | — cash investments | 441 | - | 441 |
| 211,552 | - | 211,552 |
| Group and Charity | Unrestricted | |||
|---|---|---|---|---|
| and total | Restricted | Total | ||
| funds | funds | funds | ||
| 2019 | 2019 | 2019 | ||
| £ | £ | £ | ||
| Investment income | — listed investments | 324,570 | - | 324,570 |
| Investment income | — cash investments | 86,385 | - | 86,385 |
| 410,955 | - | 410,955 |
| Group | and Charity | Unrestricted | Unrestricted | |
|---|---|---|---|---|
| Grants to | and total | and total | ||
| Institutions | funds | funds | ||
| 2020 | 2020 | 2019 | ||
| £ | £ | £ | ||
| Grants | approved in the year | 1,282,543 | 1,282,543 | 2,750,242 |
| 2020 | 2019 | |
|---|---|---|
| F | F | |
| Accrued at 1 October 2019 | 6,355,666 | 5,173,397 |
| Grants made in the year— Liverpool | 548,325 | 2,036,811 |
| Grants made in the year— Lancaster | 572,127 | 351,484 |
| Grants made in the year— Bangor | 27,000 | 67,301 |
| Grants made in the year— Chester | 294,646 | |
| Grants made in the year-- Blackpool | 129,055 | |
| Grants cancelled or recovered | (5,047) | (17,257) |
| Grants paid and other movements | (967,475) | (1,550,716) |
| Accrued at 30 September 2020 | 6,659,651 | 6,355,666 |
| Payable as follows: | ||
| Grants payable <lyr— institutional | 4,151,818 | 2,997,681 |
| Grants payable >lyr— institutional | 2,507,833 | 3,357,985 |
| Total grants payable | 6,659,651 | 6,355,666 |
| 5. GOVERNANCE COSTS | 5. GOVERNANCE COSTS | 5. GOVERNANCE COSTS | |||
|---|---|---|---|---|---|
| Group and Charity | Unrestricted | ||||
| and total | Restricted | Total | |||
| funds | funds | funds | |||
| 2020 | 2020 | 2020 | |||
| £ | £ | £ | |||
| Governance | Auditor’s remuneration | 14,040 | - | 14,040 | |
| Governance | legal and professional fees | 12,247 | - | 12,247 | |
| Governance | share of | support costs | 30,640 | - | 30,640 |
| Governance | expense | — recruitment fees | 2,162 | - | 2,162 |
| Governance | expense | — wages and salaries | 61,141 | - | 61,141 |
| Governance | — depreciation — tangible fixed |
201 | - | 201 | |
| assets | |||||
| 120,431 | - | 120,431 | |||
| Group and Charity | Unrestricted | ||||
| and total | Restricted | Total | |||
| funds | funds | funds | |||
| 2019 | 2019 | 2019 | |||
| £ | £ | £ | |||
| Governance | Auditor’s remuneration | 9,960 | - | 9,960 | |
| Governance | legal and professional fees | 10,745 | - | 10,745 | |
| Governance | share of | support costs | 43,720 | - | 43,720 |
| Governance | expense —ScientificExpenditure | 1,214 | - | 1,214 | |
| Governance | expense | — recruitment fees | 1,752 | - | 1,752 |
| Governance | expense | — wages and salaries | 81,726 | - | 81,726 |
| Governance | — depreciation — tangible fixed |
105 | - | 105 | |
| assets | |||||
| 149,222 | - | 149,222 |
| Group and Charity | Staffcosts | Depreciation | Other costs | Total |
|---|---|---|---|---|
| 2020 | 2020 | 2020 | 2020 | |
| £ | £ | £ | £ | |
| Expenditure offundraising | 271,869 | 892 | 236,268 | 509,029 |
| Expenditure on investment management |
33,714 | 33,714 | ||
| Cost ofgenerating funds | 271,869 | 892 | 269,982 | 542,743 |
| Research grant expenditure | 170,223 | 558 | 1,341,975 | 1,512,757 |
| Expenditure on governance | 61,141 | 201 | 59,090 | 120,431 |
| Charitable activities | 231,364 | 759 | 1,401,065 | 1,633,188 |
| 503,233 | 1,651 | 1,671,046 | 2,175,930 | |
| Group and Charity | Staff costs | Depreciation | Other costs | Total |
| 2019 | 2019 | 2019 | 2019 | |
| f | £ | £ | £ | |
| Expenditure offundraising | 352,695 | 453 | 317,372 | 670,520 |
| Expenditure on investment management |
- | - | 48,309 | 48,309 |
| Cost ofgenerating funds | 352,695 | 453 | 365,681 | 718,829 |
| Research grant expenditure | 101,794 | 130 | 2,853,807 | 2,955,731 |
| Expenditure on governance | 81,726 | 105 | 67,390 | 149,221 |
| Charitable activities | 183,530 | 235 | 2,921,197 | 3,104,952 |
| 536,215 | 688 | 3,286,878 | 3,823,781 |
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciation oftangible | fixed assets: owned by the Charity | 1,651 | 688 |
| Auditor’s remuneration | — audit | 12,240 | 9,960 |
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 438,657 | 463,527 |
| Social security costs | 41,892 | 42,565 |
| Other pension costs | 22,683 | 30,123 |
| 503,232 | 536,215 |
| 2020 | 2019 | |
|---|---|---|
| No. | No. | |
| Fundraising and marketing | 10 | 10 |
| Administration | 5 | 5 |
| 15 | 15 |
| 10. TANGIBLE FIXED ASSETS | ||
|---|---|---|
| Group and Charity | Fixtures and | |
| fittings | Total | |
| £ | £ | |
| Cost | ||
| At 1 October 2019 | 8,256 | 8,256 |
| At 30 September 2020 | 8,256 | 8,256 |
| Depreciation | ||
| At 1 October 2019 | 688 | 688 |
| Charge forthe year | 1,651 | 1,651 |
| At 30 September 2020 | 2,339 | 2,339 |
| Net book value | ||
| At 30 September 2020 | 5,917 | 5,917 |
| At 30 September 2019 | 7,568 | 7,568 |
| 11. FIXED ASSET INVESTMENTS |
| Listed | |||
|---|---|---|---|
| Group | securities | Cash | Total |
| (Market value) | |||
| £ | £ | £ | |
| At 1 October 2019 | 9,784,958 | 347,219 | 10,132,177 |
| Additions | 5,893,256 | - | 5,893,256 |
| Disposals | (6,542,334) | - | (6,542,334) |
| Movement in cash for the year | 1,256 | 176,448 | 177,704 |
| Realised and unrealised gains on investments |
(237,338) | - | (237,338) |
| At 30 September 2020 | 8,899,798 | 523,667 | 9,423,465 |
| Shares in | ||||
|---|---|---|---|---|
| Listed | group | |||
| Cornpany | securities | Cash | undertakings | Total |
| (Market value) | ||||
| £ | £ | £ | £ | |
| At 1 October 2019 | 9,642,272 | 347,219 | 1 | 9,989,491 |
| Additions | 5,893,256 | - | 5,893,256 | |
| Disposals | (6,542,334) | - | (6,542,334) | |
| Movement in cash for the year | 176,448 | - | 176,448 | |
| Realised and unrealised gains on investments |
(228,364) | - | (228,364) | |
| At 30 September 2020 | 8,764,831 | 523,667 | 1 | 9,288,498 |
| Name | Holding |
|---|---|
| Clatterbridge Cancer Research Limited | 100% |
| Cancer and Polio Research Fund Limited | 100% |
| Aggregate of | ||
|---|---|---|
| share capital | ||
| and reserves | Profit! (loss) | |
| Name | £ | £ |
| Clatterbridge Cancer Research Limited | 1 | |
| Cancer and Polio Research Fund Limited | 181,347 | (15,557) |
| Total | 181,348 | (15,557) |
| Group | Charity | |||||
|---|---|---|---|---|---|---|
| 2020 | 2019 | 2020 | 2019 | |||
| £ | £ | £ | £ | |||
| Goods | for | resale | 17,126 | 10,142 | 17,126 | 10,142 |
| Group | Charity | |||
|---|---|---|---|---|
| 2020 | 2019 | 2020 | 2019 | |
| £ | £ | £ | £ | |
| Other debtors | 5,500 | 4,856 | 5,500 | 16,242 |
| Prepayments and accrued income | 674,210 | 671,816 | 685,960 | 618,625 |
| 679,710 | 676,672 | 691,460 | 634,867 |
| Group | Group | Charity | Charity | ||
|---|---|---|---|---|---|
| 2020 | 2019 | 2020 | 2019 | ||
| £ | £ | £ | £ | ||
| Trade creditors | 712,907 | 50,806 | 712,907 | 50,806 | |
| Sundry creditors | 465 | 2,502 | 465 | 2,502 | |
| Amounts owed | to CCR, the subsidiary | 1 | 1 | ||
| company | |||||
| Other taxation | and social security | 14,581 | 11,868 | 14,581 | 11,868 |
| Accruals and deferred income | 54,942 | 421,367 | 53,142 | 421,367 | |
| Grants accrued | — institutional (see note 4) | 4,151,818 | 2,997,682 | 4,151,818 | 2,997,682 |
| 4,934,713 | 3,484,225 | 4,932,913 | 3,484,226 | ||
| 15. CREDITORS: Amounts falling due after more | than one year | ||||
| Group | Charity | ||||
| 2020 | 2019 | 2020 | 2019 | ||
| £ | £ | £ | £ | ||
| Grants accrued | — institutional (see note 4) | 2,507,833 | 3,357,985 | 2,507,833 | 3,357,985 |
| 16. FINANCIAL INSTRUMENTS | |||||
| Group | Charity | ||||
| 2020 | 2019 | 2020 | 2019 | ||
| £ | £ | £ | £ | ||
| Financial assets measured at fairvalue | |||||
| Investments | 9,423,465 | 9,989,492 | 9,288,497 | 10,919,174 | |
| Financial assets measured at amortised cost | |||||
| Debtors excluding prepayments | 654,786 | 234,945 | 666,536 | 634,867 | |
| Financial liabilities measured at amortised | |||||
| cost | |||||
| Creditors | 7,442,546 | 6,842,211 | 7,440,746 | 6,842,211 |
NORTH WEST CANCER RESEARCH (INCORPORATING CLATTERBRIDGE CANCER RESEARCH “CCR”)
(A company limited by guarantee)
17. STATEMENT OF FUNDS
GROUP STATEMENT OF FUNDS – CURRENT YEAR
| Unrestricted and total funds Other General funds Restricted funds Other restricted funds Total of funds |
Balance at Balance at 1 October Gains / 30 September 2019 Income Expenditure (Losses) 2020 £ £ £ £ £ 4,276,004 1,538,991 (2,172,706) (234,701) 3,407,588 |
|---|---|
| 3,559 3,000 (3,225) - 3,334 |
|
| 4,279,563 1,541,991 (2,175,931) (234,701) 3,410,922 |
The restricted funds received during the year of £3,000 was a grant from Groundwork UK, restricted to use specifically for lab coat learning.
GROUP STATEMENT OF FUNDS – PRIOR YEAR
| Unrestricted and total funds Other General funds Restricted funds Other restricted funds Total of funds |
Balance at Balance at 1 October Transfers Gains / 30 September 2018 Income Expenditure In / out (Losses) 2019 £ £ £ £ £ £ 6,209,664 1,796,255 (3,823,240) - 93,325 4,276,004 |
|---|---|
| 100 4,000 (541) - - 3,559 |
|
| 6,209,764 1,800,255 (3,823,781) - 93,325 4,279,563 |
The restricted funds received during the year of £4,000 was a grant from Groundwork UK, restricted to use specifically for lab coat learning.
43
NORTH WEST CANCER RESEARCH (INCORPORATING CLATTERBRIDGE CANCER RESEARCH “CCR”)
(A company limited by guarantee)
17. STATEMENT OF FUNDS continued
CHARITY STATEMENT OF FUNDS – CURRENT YEAR
| Unrestricted and total funds Other General funds Restricted funds Other restricted funds Total of funds HARITY STATEMENT Unrestricted and total funds Other General funds Restricted funds Other restricted funds Total of funds |
Balance at 1 October 2019 Income Expenditure £ £ £ 4,079,099 1,534,969 (2,162,101) |
Balance at Transfers Gains / 30 September In / out (Losses) 2020 £ £ £ - (225,727) 3,226,241 |
|
|---|---|---|---|
| 3,559 3,000 (3,225) |
- - 3,334 |
||
| 4,082,658 1,537,969 (2,165,326) |
- (225,727) 3,229,575 |
||
| OF FUNDS – PRIOR YEAR Balance at 1 October 2018 Income Expenditure £ £ £ 6,066,033 1,723,570 (3,796,745) |
Balance at Transfers Gains / 30 September In / out (Losses) 2019 £ £ £ - 86,241 4,079,099 |
||
| 100 4,000 (541) |
- - 3,559 |
||
| 6,066,133 1,727,570 (3,797,286) |
- 86,241 4,082,658 |
CHARITY STATEMENT OF FUNDS – PRIOR YEAR
44
| GROUP | Unrestricted | ||
|---|---|---|---|
| and total | Restricted | Total | |
| funds | funds | funds | |
| 2020 | 2020 | 2020 | |
| £ | £ | £ | |
| Tangible fixed assets | 5,917 | - | 5,917 |
| Fixed asset investments | 9,423,465 | - | 9,423,465 |
| Current assets | 1,420,753 | 3,334 | 1,424,086 |
| Creditors due within one year | (4,934,713) | - | (4,934,713) |
| Creditors due in more than one year | (2,507,833) | - | (2,507,833) |
| 3,407,588 | 3,334 | 3,410,922 |
| ANALYSIS OF NET ASSETS BETWEEN FUNDS—PRIOR YEAR | |||
|---|---|---|---|
| GROUP | unrestricted | ||
| and total | Restricted | Total | |
| funds | funds | funds | |
| 2019 | 2019 | 2019 | |
| £ | £ | £ | |
| Tangible fixed assets | 7,568 | - | 7,568 |
| Fixed asset investments | 10,132,177 | - | 10,132,177 |
| Current assets | 978,469 | 3,559 | 982,028 |
| Creditors due within one year | (3,484,226) | - | (3,484,226) |
| Creditors due in more than one year | (3,357,985) | - | (3,357,985) |
| 4,276,004 | 3,559 | 4,279,563 |
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Net expenditure forthe year (as per Statement of Financial Activities) | (868,640) | (1,930,201) |
| Adjustment for: | ||
| Depreciation charges | 1,651 | 688 |
| (Gains)/Losses on investments | 234,701 | (93,325) |
| Dividends, interest and rents from investments | (211,551) | (410,955) |
| Assets acquired | ||
| Increase in stocks | (6,984) | (2,902) |
| Increase in debtors | (3,038) | (272,378) |
| Increase/(decrease) in creditors | 601,716 | 1,086,225 |
| Net cash used in operating activities | (252,145) | (1,622,848) |
| 2020 | 2019 | |||
|---|---|---|---|---|
| £ | £ | |||
| Cash in hand | 727,250 | 295,214 | ||
| Investment cash accounts | 523,667 | 347,219 | ||
| 1,250,917 | 642,433 | |||
| 1. RECONCILIATION OF NET DEBT | ||||
| At | 1 October | Cashflow | At 30 | |
| 2019 | September | |||
| 2020 | ||||
| £ | £ | £ | ||
| Cash in hand and at bank | 642,433 | 608,484 | 1,250,917 | |
| 642,433 | 608,484 | 1,250,917 |
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Amounts payable: | ||
| Within 1 year | 1,368 | 1,368 |
| Between land 5 years | 1,368 | 2,736 |
| 2,736 | 4,104 |