| 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—23 |
| Consolidated Statement of Financial Activities | 24 |
| Consolidated Balance Sheet | 25 |
| Charity Balance Sheet | 26 |
| Consolidated Cash Flow Statement | 27 |
| Notes to the Financial Statements | 28—47 |
| Unrestricted | Restricted | Total | Total | |||
|---|---|---|---|---|---|---|
| funds | Funds | funds | funds | |||
| 2021 | 2021 | 2021 | 2020 | |||
| Note | £ | £ | £ | £ | ||
| INCOME FROM: | ||||||
| Donations and legacies | 2 | 1,627,796 | 164,977 | 1,792,773 | 1,330,439 | |
| Investment income | 3 | 261,502 | - | 261,502 | 211,552 | |
| TOTAL INCOME | 1,889,298 | 164,977 | 2,054,275 | 1,541,991 | ||
| EXPENDITURE ON: | ||||||
| Raising funds: | ||||||
| Fundraising and legacy generation costs |
388,946 | 164,977 | 553,923 | 509,029 | ||
| Investment management | 34,477 | - | 34,477 | 33,714 | ||
| Charitable activities | 6 | 1,522,876 | 3,334 | 1,526,210 | 1,633,188 | |
| TOTAL EXPENDITURE | 6 | 1,946,299 | 168,311 | 2,114,610 | 2,175,931 | |
| NET EXPENDITURE |
BEFORE | |||||
| INVESTMENT GAINS | (57,001) | (3,334) | (60,335) | (633,940) | ||
| Gains/(Iosses) on investments | 1,220,320 | - | 1,220,320 | (234,701) | ||
| NET INCOME/(EXPENDITURE) BEFORE TRANSFERS |
1,163,319 | (3,334) | 1,159,985 | (868,641) | ||
| Transfers between funds | ||||||
| NET MOVEMENT IN FUNDS | 1,163,319 | (3,334) | 1,159,985 | (868,641) | ||
| RECONCILIATION OF FUNDS: | ||||||
| Total funds brought forward | 3,407,588 | 3,334 | 3,410,922 | 4,279,563 | ||
| TOTAL FUNDS CARRIED | ||||||
| FORWARD | 4,570,907 | - | 4,570,907 | 3,410,922 |
| (A company limited by guarantee) | (A company limited by guarantee) | (A company limited by guarantee) | (A company limited by guarantee) | |||
|---|---|---|---|---|---|---|
| REGISTERED NUMBER: 2165552 | ||||||
| CONSOLIDATED BALANCE SHEET | ||||||
| AS AT 30 | SEPTEMBER 2021 | |||||
| 2021 | 2020 | |||||
| Note | £ | £ | £ | £ | ||
| FIXED ASSETS | ||||||
| Tangible assets | 9 | 4,265 | 5,917 | |||
| Investments | 10 | 9,260,053 | 9,423,465 | |||
| 9,264,318 | 9,429,382 | |||||
| CURRENT ASSETS | ||||||
| Stocks | 11 | 17,100 | 17,126 | |||
| Debtors | 12 | 837,604 | 679,710 | |||
| Cash at bank and in hand | 387,629 | 727,250 | ||||
| 1,242,333 | 1,424,086 | |||||
| CREDITORS: amounts falling due less than one year |
in | 13 | (2,995,168) | (4,934,713) | ||
| NET CURRENT LIABILITiES | (1,752,835) | (3,510,627) | ||||
| TOTAL ASSETS LESS CURRENT | ||||||
| LIABILITIES | 7,511,483 | 5,918,755 | ||||
| CREDITORS: amounts falling due after more than one year |
14 | (2,940,576) | (2,507,833) | |||
| NET ASSETS | 4,570,907 | 3,410,922 | ||||
| CHARITY FUNDS | ||||||
| Restricted funds | 16 | 0 | 3,334 | |||
| Unrestricted funds | 16 | 4,570,907 | 3,407,588 | |||
| TOTAL FUNDS | 4,570,907 | 3,410,922 |
| CHARITY | BALANCE SHEET | BALANCE SHEET | |||
|---|---|---|---|---|---|
| AS AT 30 | SEPTEMBER | 2021 | |||
| 2021 | 2020 | ||||
| Note | € | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 9 | 4,265 | 5,917 | ||
| Investments | 10 | 9,091,122 | 9,288,498 | ||
| 9,095,387 | 9,294,415 | ||||
| CURRENT ASSETS | |||||
| Stocks | 11 | 17,100 | 17,126 | ||
| Debtors | 12 | 904,764 | 691,460 | ||
| Cash at bank and in hand | 333,948 | 667,320 | |||
| 1,255,812 | 1,375,906 | ||||
| CREDITORS: amounts falling due in less than one year |
13 | (2,993,568) | (4,932,913) | ||
| NET CURRENT LIABILITIES | (1,737,756) | (3,557,007) | |||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
7,357,631 | 5,737,408 | |||
| CREDITORS: amounts falling due after more than one year |
14 | (2,940,576) | (2,507,833) | ||
| NET ASSETS | 4,417,055 | 3,229,575 | |||
| CHARITY FUNDS | |||||
| Restricted funds | 16 | 0 | 3,334 | ||
| Unrestricted funds | 16 | 4,417,055 | 3,226,241 | ||
| TOTAL FUNDS | 4,417,055 | 3,229,575 |
| CONSOLIDATED STATEMENT OF CASH FLOWS | CONSOLIDATED STATEMENT OF CASH FLOWS | CONSOLIDATED STATEMENT OF CASH FLOWS | |
|---|---|---|---|
| FOR THE YEAR ENDED 30 | SEPTEMBER 2021 | ||
| Note | 2021 | 2020 | |
| £ | £ | ||
| Cash flows from operating activities: | |||
| Net cash used in operating activities | 18 | (1,984,564) | (252,145) |
| Cash flows from investing activities: | |||
| Dividends and interest from investments | 261,502 | 211,551 | |
| Proceeds from the sale of investments | 1,237,545 | 6,542,334 | |
| Purchase of investments | (303,087) | (5,893,256) | |
| Net cash provided by investing activities | 1,195,960 | 860,629 | |
| Change in cash and cash equivalents in the year | (788,604) | 608,484 | |
| Cash and cash equivalents brought forward | 1,250,917 | 642,433 | |
| Cash and cash equivalents carried forward | 19 | 462,313 | 1,250,917 |
| Group and Charity | Unrestricted | ||
|---|---|---|---|
| and total | Restricted | Total | |
| Funds | funds | funds | |
| 2021 | 2021 | 2021 | |
| £ | £ | £ | |
| Legacies | 1,155,690 | - | 1,155,690 |
| Donations | 378,398 | 164,977 | 543,375 |
| Donations-in-kind | 59,028 | - | 59,028 |
| Coronavirus Job Retention Scheme Grant | 34,680 | - | 34,680 |
| Total donations and legacies | 1,627,796 | 164,977 | 1,792,773 |
| 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 |
| 3. INVESTMENT INCOME | ||||
| Group and Charity | Unrestricted | |||
| and total | Restricted | Total | ||
| funds | funds | funds | ||
| 2021 | 2021 | 2021 | ||
| £ | £ | £ | ||
| Investment income | — listed investments | 261,785 | - | 261,785 |
| Investment income | — cash investments | (283) | - | (283) |
| 261,502 | - | 261,502 | ||
| 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 |
| 4. ANALYSIS OF GRANTS | 4. ANALYSIS OF GRANTS | |||||
|---|---|---|---|---|---|---|
| Group and Charity | Unrestricted | Unrestricted | ||||
| Grants to | and | total | and total | |||
| Institutions | funds | funds | ||||
| 2021 | 2021 | 2020 | ||||
| £ | £ | £ | ||||
| Grants approved in | the year | 1,240,658 | 1,240,658 | 1,282,543 | ||
| RECONCILIATION OF | GRANTS PAYABLE | |||||
| 2021 | 2020 | |||||
| £ | £ | |||||
| Accrued at 1 October 2020 | 6,659,651 | 6,355,666 | ||||
| Grants made in the | year— | Liverpool | 431,844 | 548,325 | ||
| Grants made in the | year— | Lancaster | 663,371 | 572,127 | ||
| Grants made in the | year— | Bangor | 100,500 | 27,000 | ||
| Grants made in the | year— | Chester | 94,375 | - | ||
| Grants made in the |
year — |
BIackpoo I | 129,055 | |||
| Grants made in the |
year — |
Manchester | 104,950 | |||
| Grants made in the |
year — |
UCLAN | 4,000 | |||
| Grants cancelled or | recovered | (165,882) | (5,047) | |||
| Grants paid and other movements | (2,591,646) | (967,475) | ||||
| Accrued at 30 September | 2021 | 5,301,163 | 6,659,651 | |||
| Payable as follows: | ||||||
| Grants payable <lyr — institutional | 2,360,587 | 4,151,818 | ||||
| Grants payable >lyr — institutional |
2,940,576 | 2,507,833 | ||||
| Total grants payable | 5,301,163 | 6,659,651 |
| 5. GOVERNANCE COSTS | 5. GOVERNANCE COSTS | 5. GOVERNANCE COSTS | ||||
|---|---|---|---|---|---|---|
| Group and Charity | Unrestricted | |||||
| and total | Restricted | Total | ||||
| funds | funds | Funds | ||||
| 2021 | 2021 | 2021 | ||||
| £ | £ | £ | ||||
| Governance | Auditor’s remuneration | 10,960 | 10,960 | |||
| Governance | legal and professional fees | 6,896 | 6,896 | |||
| Governance | share of | support costs | 17,233 | 17,233 | ||
| Governance | expense | — recruitment fees | 1,315 | 1,315 | ||
| Governance | expense | —wages and salaries | 57,355 | 57,355 | ||
| Governance | — depreciation | — tangible fixed | 193 | 193 | ||
| assets | ||||||
| 93,952 | - | 93,952 |
| Group and Charity | 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—Scientific Expenditure | ||||
| 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 | Staff costs | Depreciation | Other costs | Total |
|---|---|---|---|---|
| 2021 | 2021 | 2021 | 2021 | |
| £ | £ | £ | £ | |
| Expenditure of fundraising | 285,010 | 961 | 267,952 | 553,923 |
| Expenditure on investment management |
- | 34,477 | 34,477 | |
| Cost ofgenerating funds | 285,010 | 961 | 302,429 | 588,400 |
| Research grant expenditure | 147,007 | 497 | 1,284,754 | 1,432,258 |
| Expenditure on governance | 57,354 | 193 | 36,405 | 93,952 |
| Charitable activities | 204,361 | 690 | 1,321,159 | 1,526,210 |
| 489,371 | 1,651 | 1,623,588 | 2,114,610 | |
| Group and Charity | Staffcosts | Depreciation | Other costs | Total |
| 2020 | 2020 | 2020 | 2020 | |
| f | £ | £ | £ | |
| Expenditure of fundraising | 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 |
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciation oftangible | fixed assets: owned by the Charity | 1,651 | 1,651 |
| Auditor’s remuneration | — audit | 10,600 | 12,240 |
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 430,240 | 438,657 |
| Social security costs | 36,434 | 41,892 |
| Dther pension costs | 22,697 | 22,683 |
| 489,371 | 503,232 |
| 2021 | 2020 | |
|---|---|---|
| No. | No. | |
| Fundraising and marketing | 8 | 10 |
| Administration | S | S |
| 13 | 15 |
| Group and Charity | Fixtures and | |
|---|---|---|
| fittings | Total | |
| £ | £ | |
| Cost | ||
| At 1 October 2020 | 8,256 | 8,256 |
| At 30 September 2021 | 8,256 | 8,256 |
| Depreciation | ||
| At 1 October 2020 | 2,339 | 2,339 |
| Charge for the year | 1,651 | 1,651 |
| At 30 September 2021 | 3,990 | 3,990 |
| Net book value | ||
| At 30 September 2021 | 4,265 | 4,265 |
| At 30 September 2020 | 5,917 | 5,917 |
| 10. FIXED ASSET INVESTMENTS | |||||
|---|---|---|---|---|---|
| Listed | |||||
| Group | securities | Cash | Total | ||
| (Market value) | |||||
| £ | £ | £ | |||
| At 1 October 2020 | 8,899,798 | 523,667 | 9,423,465 | ||
| Additions | 303,087 | - | 303,087 | ||
| Disposals | (1,237,545) | - | (1,237,545) | ||
| Movement in cash for the year | (448,982) | (448,982) | |||
| Realised and unrealised gains | |||||
| on investments | 1,220,028 | - | 1,220,028 | ||
| At 30 September 2021 | 9,185,368 | 74,685 | 9,260,053 | ||
| Shares | in | ||||
| Listed | group | ||||
| Company | securities | Cash | undertakings | Total | |
| (Market value) | |||||
| £ | £ | £ | £ | ||
| At 1 October 2020 | 8,764,831 | 523,667 | 1 | 9,288,498 | |
| Additions | 302,050 | - | 302,050 | ||
| Disposals | (1,237,545) | - | (1,237,545) | ||
| Movement in cash for the year | (448,982) | - | (448,982) | ||
| Realised and unrealised gains on investments |
1,187,101 | - | 1,187,101 | ||
| At 30 September 2021 | 9,016,437 | 74,685 | 1 | 9,091,123 |
| Name | Holding |
|---|---|
| NW Cancer Research Trading Limited | 100% |
| Cancer and Polio Research Fund Limited | 100% |
| Aggregate of | ||
|---|---|---|
| share capital | ||
| and reserves | Profit/ (loss) | |
| Name | £ | £ |
| NW Cancer Research Trading Ltd. | 1 | |
| Cancer and Polio Research Fund Limited | 153,852 | (27,496) |
| Total | 153,853 | (27,496) |
| Group | Charity | |||||
|---|---|---|---|---|---|---|
| 2021 | 2020 | 2021 | 2020 | |||
| £ | £ | £ | £ | |||
| Goods | for | resale | 17,100 | 17,126 | 17,100 | 17,126 |
| 2. DEBTORS | ||||
|---|---|---|---|---|
| Group | Charity | |||
| 2021 | 2020 | 2021 | 2020 | |
| £ | £ | £ | £ | |
| Other debtors | 1,178 | 5,500 | 1,178 | 5,500 |
| Prepayments | 22,713 | 24,924 | 22,713 | 24,924 |
| Accrued legacy income | 540,425 | 549,674 | 497,230 | 549,674 |
| Other accrued income | 273,288 | 99,612 | 383,643 | 111,362 |
| 837,604 | 679,710 | 904,764 | 691,460 |
| Group | Group | Charity | Charity | ||
|---|---|---|---|---|---|
| 2021 | 2020 | 2021 | 2020 | ||
| F | £ | £ | £ | ||
| Trade creditors | 357,756 | 712,907 | 357,756 | 712,907 | |
| Sundry creditors | 465 | 465 | 465 | 465 | |
| Amounts owed | to NWCRT, the subsidiary | 1 | 1 | ||
| company | |||||
| Other taxation | and social security | 13,155 | 14,581 | 13,155 | 14,581 |
| Accruals and deferred income | 263,206 | 54,942 | 261,606 | 53,142 | |
| Grants accrued | — institutional (see note 4) | 2,360,586 | 4,151,818 | 2,360,586 | 4,151,818 |
| 2,995,168 | 4,934,713 | 2,993,569 | 4,932,913 |
| Group | Group | Charity | Charity | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | 2021 | 2020 | |||||||
| £ | £ | £ | £ | |||||||
| Grants | accrued | — | institutional | (see | note | 4) | 2,940,576 | 2,507,833 | 2,940,576 | 2,507,833 |
| Group | Group | Charity | Charity | |
|---|---|---|---|---|
| 2021 | 2020 | 2021 | 2020 | |
| F | £ | £ | £ | |
| Financial assets measured at fair value | ||||
| Investments | 9,260,053 | 9,423,465 | 9,091,122 | 9,288,497 |
| Financial assets measured at amortised cost | ||||
| Debtors excluding prepayments | 814,891 | 654,786 | 882,050 | 666,536 |
| Financial liabilities measured at amortised | ||||
| cost | ||||
| Creditors | 5,935,745 | 7,442,546 | 5,934,146 | 7,440,746 |
| Balance at | Balance at | ||||||
|---|---|---|---|---|---|---|---|
| I October | Gains/ | 30 September | |||||
| 2019 | Income | Expenditure | (Losses) | 2020 | |||
| £ | £ | £ | £ | £ | |||
| Unrestricted and | |||||||
| total funds | |||||||
| Other funds |
General | 4,276,004 | 1,554,483 | (618,223) | (868,415) | 3,407,588 | |
| Restricted | funds | ||||||
| Other funds |
restricted | 3,559 | 3,000 | (3,225) | (225) | 3,334 | |
| Total of | funds | 4,279,563 | 1,557,483 | (621,448) | (868,640) | 3,410,922 |
| Balance at | Balance at | |||||
|---|---|---|---|---|---|---|
| 1 October | Gains! | 30 September | ||||
| 2020 | Income | Expenditure | (Losses) | 2021 | ||
| £ | £ | £ | £ | £ | ||
| Unrestricted and | ||||||
| total funds | ||||||
| Other funds |
General | 3,226,241 | 1,838,800 | (1,835,379) | 1,187,393 | 4,417,055 |
| Restricted | funds | |||||
| Other restricted funds |
3,334 | 164,977 | (168,311) | - | - | |
| Total offunds | 3,229,575 | 2,003,777 | (2,003,690) | 1,187,393 | 4,417,055 |
| Balance ot | Balance at | |||||
|---|---|---|---|---|---|---|
| 1 October | Gains! | 30 September | ||||
| 2019 | Income | Expenditure | (Losses) | 2020 | ||
| £ | £ | £ | £ | £ | ||
| Unrestricted and | ||||||
| total funds | ||||||
| Other funds |
General | 4,079,099 | 1,534,969 | (2,162,101) | (852,858) | 3,226,241 |
| Restricted | funds | |||||
| Other restricted funds |
3,559 | 3,000 | (3,225) | (225) | 3,334 | |
| Total offunds | 4,082,658 | 1,537,969 | (2,165,326) | (853,083) | 3,229,575 |
| GROUP | Unrestricted | ||
|---|---|---|---|
| and total | Restricted | Total | |
| funds | funds | funds | |
| 2021 | 2021 | 2021 | |
| E | £ | £ | |
| Tangible fixed assets | 4,265 | - | 4,265 |
| Fixed asset investments | 9,260,053 | - | 9,260,053 |
| Current assets | 1,242,333 | - | 1,242,333 |
| Creditors due within one year | (2,995,168) | - | (2,995,168) |
| Creditors due in more than one year | (2,940,576) | - | (2,940,576) |
| 4,570,907 | - | 4,570,907 |
| 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 |
| 2021 | 2020 | ||
|---|---|---|---|
| £ | f | ||
| Net income! (expenditure) for the year (as per Statement of Financial | 1,159,985 | (868,640) | |
| Activities) | |||
| Adjustment for: | |||
| Depreciation charges | 1,651 | 1,651 | |
| (Gains)/Losses on investments | (1,220,028) | 234,702 | |
| Dividends, interest and rents from investments | (261,502) | (211,551) | |
| Assets acquired | |||
| (Increase)! decrease in stocks | 25 | (6,984) | |
| (Increase) in debtors | (157,894) | (3,038) | |
| Increase/(decrease) in creditors | (1,506,801) | 601,716 | |
| Net cash used in operating activities | (1,984,564) | (252,145) | |
| 19. ANALYSIS OF CASH AND CASH EQUIVALENTS | |||
| 2021 | 2020 | ||
| £ | £ | ||
| Cash in hand | 387,629 | 727,250 | |
| Investment cash accounts | 74,684 | 523,667 | |
| 462,313 | 1,250,917 | ||
| 20. RECONCILIATION OF NET DEBT | |||
| At 1 October | Cashfiow | At 30 | |
| 2020 | September | ||
| 2021 | |||
| £ | £ | £ | |
| Cash in hand and at bank | 1,250,917 | (788,604) | 462,313 |
| 1,250,917 | (788,604) | 462,313 |
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Amounts payable: | ||
| Within 1 year | 1,368 | 1,368 |
| Between landS years | - | 1,368 |
| 1,368 | 2,736 |