Charity registrdtion number NIC101345 Company registratlon number N16169251Northem Ireland) FRIENDS OF THE CANCER CENTRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
FRIENDS OF THE CANCER CENTRE LEGAL AND ADMINISTRATIVE INFORMATION Patrons Mr John Daly Mr Eamonn Holmes Mr lain Henderson Mr Denis Moloney Directors Mr B Cave Dr P Scullin Ms C Aiken Dr D Finnegan Prof S Jain Mr R Donnan Ms C Keenan DT S McAleer Prof A Adalr Mr P Mcmaw Mr J Rice Prof M Durkin Mr Brian Fee Mr D Cubbitt (Appolnted 9 June 2023) (Appointed g June 2023) {Appointed 15 September 2023) Secretary Ms C Keenan Charity number NIC101345 Company number N1616925 Registered office N.1. Cancer Centre Belfast City Hospital Lisbum Road Belfast Co. Antrim BT9 7AB Auditor Harbinson Mulholland Centrepoint 24 Omieau Avenue Belfast Co. Antrim Northèm Ireland BT2 8HS Bankers Ulster Bank 91193 Unwersity Road Belfast BT7 1NB
FRIENDS OF THE CANCER CENTRE CONTENTS Page Director8, report Statement of Directors, responsibilitie6 Independent audltorfs report statement of financial activit188 10 statement of financial posltlon Staternent of cash flows 13 Notes to the finandal statements 14-24
FRIENDS OF THE CANCER CENTRE DIRECTORS. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2023 The Directors present their annual report and financial statements for the year ended 31 March 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Companies Act 2006 and "Accounting and Reporting by Charrties= Statement of Recommended Practice applicable to charrties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016) Objectives and actlvltie8 The Charity operates in Northern Iland and its objectives are to support patients and their families by enhancing the quality of care they receive and contribule to canr care, treatment and research throughout Northem Ireland. Achlevernent8 and pertorniance During the year funds amounting to £1,136,512 were used to contribute to research, patienl comfort, clinical care and campaigns throughout Northern Ireland. These bréak down as follows.. Radiotherapy Physics Support Position 750/0 Radiotherapy, Research & Development Radiographer Patrick G. Johnston Centre for Cancer Research, N.1. Canr Centre Trials Grant 15,243 64,860 317,052 397,156 P tient Comfort & Care Teenage & Young Adults Group Programme North West Cancer Centre, Coffee Dock Supplies SoLTal Work Grants, Nl Cancer Cèntr8 Drinks Machines, Nl Cancer Cenlre Support for Bre85t Health & Well Being Events Physiotherapy, Physical Activity Cancer Referral Coach Radiotherapy, Clothing for Patients Social Work Grants, North West Cancer Centre Bridgewater Suite, Refreshments for Patients Macmillan Support & Information Centre, Support & Wellbeing Programme 8ariatric Chair for Inpatients, Wards Nl Cancer Centre Radiotherapy, Children's Activity Gifts Garden Materials, Nl Cancer Centre and Macmillan Support & Infomialion Centre Wards 2B. Recliner Chairs for Patient Dayroom Christmas Presents for Patients and Hampers for Staff Bridgewater Suite, Refit of Reception Wall 2,667 857 137,175 2,684 338 35,076 103 13,500 110,203 6,105 170 930 2,825 2,184 318,261
FRIENDS OF THE CANCER CENTRE DIRECTORS. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Clinical Cara Library Books Clinical Nurse Specialist, Secondary Breast Cancer Nurse Teenage & Young Adults Social Worker 2shrsk Speech & Language Therapy Assistant Manager Cancer Care books for Nursing Occupational Therapy, Pressure Reducing Cushions Dietitian Clinical Specialist, Nl Cancer Centra Radiotherapy, ECG Machine Haematology-10 North-wall mounted Ob$eNatlon Monitors Radiotherapy. RT Thumbs Up Teenage & Young Adults Education Day, NHSCT Nursing BAFTA5 Celebration Day Breast Prehabililation Information Leaflet, Nl Cancer Centre Scholarship, PeaTI Ewing Scholarship, Parnelg Lutton Scholarship, Dr Gary McGowan Clinical Nurse Specialist, Teenage & Young Adults Clinical Nurse Specialist, Teenage & Young Adults Full Training QA Praciitioner Clinical Nurse Specialist Group Programme Training, Clinical Nurse Speualist Programme Radiotherapy Physics Support Position 250/0 998 45,621 25,260 21,592 1,550 1,720 37,909 2.T15 14,980 253 200 366 2,000 2,000 2,0(X) 32,324 84,238 412 126,179 5,201 388,710 al Campaigns 32,386 32.386 1,136,512
FRIENDS OF THE CANCER CENTRE DIRECTORS, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Flnanclal review The net movement of fvnds amounted to outgoing of £39,119, of which £7,681 related to unrestricted activities and £31,438 related to reslricled funds. The Charily is involved in vaTiOUS fund-raising aclivitie5 to provide adequate resources to meet its objectives. The Directors are very pleased with the tolal income generated of £1,675,428 in the year in relation to the £168,052 expended on fundraising and £92.241 on administration. At 31 March 2023 the Charity had unrestricted reserves of £3.351,638 of which £3,288,368 has been committed to support continuing activities within the Cancer Centre. The free uncomTnitted balance of fvnds is £63,270. Reserves pollcy The Directors, informed by the Tisk register, operating budget and known commitments and liabilities, have established a policy for the general resenies held by the Charity. The organisalion is entirely dependent upon fluctuating donor funding from year to year, and it requires protection against and the ability to continue despite, downturn in income. General Reserve.. the directors beli8V8 that the minimum lèvel of genersl resep4e8 should be the equivalenl of six months, operating costs and six months, commitments calculated and reviewed annually and believe thal Ihe reserves should be built up to the desired level in stages consistent with the Charity's overall financial position and its need to maintsin and develop its charitable activities, Designaled Reserves.. To enable the Charity to support projects and research posts which cover more than one year the directors designate those fund8 for which grants have been committed or approved for 8 period of up to 2 years from the period end. Th8 directors are of the opinion that approximately £950,000 of designated funds would fall due for payment in the 6 months from the balance sheet date.
FRIENDS OF THE CANCER CENTRE DIRECTORS. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Structure, governance and management The Charity is a company limited by guarantee and does not have a share capital. It is governed by a Memorandum and Articles of Association and the liability of each member is limited lo an amount not exceeding £1. The directors must offer their resignation after two years but can make themselves available for rtrelection in accordance with the Articles of Association. There were 12 directors serving during the period up to 31 March 2023. New Directors are appointed by the Board. The 8im of the recruitment process is to appoint the most suitable person for the position of Director. Recruitment of new Directors will také into account the Charity's need for new ideas and fresh approaches. The last skills audit was carried out in 2015 and is periodically reviewed by the Board. The Directors who served during the year and up to the date of signature of the financial statements were: Mr 8 Cave Mr T Montague Dr P Scullin Ms C Aiken Dr D Finnegan Prof S Jain Mr R Donnan Ms C Keenan Dr S McAleer ProfAAdair Mr P Mcmaw MrJRi Prof M Durkin Mr Brian Fee Mr D Cubbitt (Resign8d 25 November 2022) {Appointed 9 June 2023) (Appointed 9 June 2023) (Appointed 15 September 2023) Auditor Harbinson Mulholland have indicated Ihelr willingness to continue in office. Dlsclosure of Information to auditor Each of the Directors has confirmed that there is no infomiation of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish thal the auditor is aware of such information. This report has been prepared in accordance with special provision of Part 15 of the Companies Act 2006 relating to small companies. The Directors, report was approved by the Board of Directors. Ms C Keenan Director Dated.. ..2f.I 1.1120
FRIENDS OF THE CANCER CENTRE STATEMENT OF DIRECTORS. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2023 The directors, who also act as trustees, are responsible for preparing the Directors, Report and the financsal statements in accordance with applicable law and regulation. Company law requires the Directors to prepare financi81 statements for each financial year. Under that law Ihe Directors have prepared the financial statements in accordance with United Kingdom Accounting Standards, comprising FRS 102 "The Financial Reporting Slandard applicable in the UK and Republic of Ireland" and applicable law {United Kingdom Generally Accepted Accounting Practice)- Under company law the Directors must not approve the financial statements unless th6y are satisfied that they give a true and fair view of the stale of the affairs of the and of the incoming resources and application of resources, including the incorne and expenditure, of the for that period. In preparing these financial statements, the Directors are required to.. select 5Ultable accounting pollcles and then apply them conslstently., obseNe the methods and principles in the Staternenl of Recommended Practice.. Accountlng and Reporting by Charities120151', make judgments and estimates that are re8s0nable and prudent,. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the will conts'nue in business. The Dlrectors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with Teasonable accuracy at any time the financial p051tion of the company and enable them to ensure that the cornpany comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In certain circufflstances clients may choose to include an additional statement here which is required to be made within the direclors, report as a result of Section 418 of the Companies Act 2006. In accordance with Section 418, directors, reports Shall include a statemenl, in the case of each director in office al the date the directors, report is approved, that.. (a) so far as the trustee is aware, ther6 is no relevant audlt infomiation of which the company's auditors ar8 unaware., and (bl they have taken all the steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. By order of the Board of Directors Ms C Keenan Dlrector Date..
FRIENDS OF THE CANCER CENTRE INDEPENDENT AUDITOR'S REPORT TO THE DIRECTORS OF FRIENDS OF THE CANCER CENTRE Oplnion We have audited the financial statements of Friends of the Cancer Centre (the 'Charity') for the year ended 31 March 2023 which comprise the slatement of financial adivities. the siatement of financial position, the statement of cash flows and the notes to the financial statements. including sign¢ficant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and R8public ol Ireland (United Kingdorn Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and applicAtion of resour8, for th8 year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Praclice,. and have been prepared in aGGordan¢e with the requirements of the Companies Act 2006. 8a818 for opinion We conducted our audit in accordance with International Standards on Auditing (UK) IISAS (UKII and appllcable law. Our respon8ibilities under those standards are further described in the Auditods responsibilities for the audit of Ihe fin8nc181 stat8ments section of our report. We are independenl of the Charity in accordance with the elhical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical standard, and we hav8 fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to going concern We have nothing to report in respect of the following rnatters in relation to which the ISAS (UK) require us to report to you were.. the directors, use of the going conceTn basis of accounling in Ihe preparation of the finanal statements is not apprtspriate., or the directors have not disclosed in the financial statements any idenlified material uncertainties that may cast significant doubt about the group's or the parent company's ability to continue to adopl the going concem basis of accounting for a period of at least Mialve months from the date when Ihe financial statements are authorised for issue. Other informatlon The other infomation comprises the infomiation included in the Director5, Report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information. Our opinion on the finanrial statements does not cover the other infomiation and, except to the extent othemise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and. in doing so, consider whether the other information is materially inconsistent with the financial Statements or our knowledge obtained in the audit or olherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in Ihe financial statements or a material misstatement of the other information. If, based on the work we have perfomied, we conclude that there is a material missiatement of this other information, we are required to report that fact. We have nothing io report in this regard.
FRIENDS OF THE CANCER CENTRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE DIRECTORS OF FRIENDS OF THE CANCER CENTRE Oplnions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the information given in the Directors, report, which includes the director5, report prep8red for the purposes of company law, for the financial year for which the financial Statements are prepared 15 consistent with the financial statements., and the directors, report included within the Directors, report has been prepared in accordance with applicable legal requirements. Matters on whlch we are raqulred to report by exceptlon In the light of the knowledge and understanding of the Charitable company and its environment obtained in Ihe course of the audit, we h8ve not identified material misstatements in the Strategic Report and the Directors, Report. We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you rf, in our opinion.. adequate accounting records have not been kept or retums adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of Irustees, remuneration specified by law are not made,. or we h8ve not received all the information and explanations we r8quire for our audit. Rogpon8ibilltles of Dlrectors As explained more fully in the statement of Directors, responsibilities, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial slatement5, the Directors are responsible for assessing the Charlty's ability lo continue as going concern, disclosing, as applicable, matters related to going concern and using the going concem basis of accounting unless the Directors either intend to liquidate the charitable company or to cease operations, or have no realistic altemative but to do 30. Auditorf8 r••pon8lbllltlo8 for the audSt of the flnanclal statem•nt• Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material mi5Statement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions af users taken on the basis of these finanlial statements. A further description of our responsibilities is available on the Financial Reporting Council's website at= httPS:11 www.frc.org.uklauditorsresponsibilities. This description forms part of our auditols report.
FRIENDS OF THE CANCER CENTRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE DIRECTORS OF FRIENDS OF THE CANCER CENTRE Our approach to identifying and assessing the risks of material misstatement in respect of irregularitles. including fraud and non-compliance with laws and regulations, was as follows.. the engagement partner ensured that the engagement team collectively had the appropriate cornpetence, capabilities and skills to identify or recognise non-complian with applicable laws and regulations; we identified the laws and regulations applicable to the company through discussions with directors andlor senior management, and from our commercial knowledge and experience of the sector; We focused on specific laws and regulation8 which we considered may have a direct material effect on the financial statements or the operations of the company, including Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmenlal and health and safety legislation we assessed the extent of compliance with the laws and regulation8 identified above through making enquiries of management and inspecting legal COTrespondence,' and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the company's financial ststements to material misstatement, including obtaining an understanding of how fraud might occur, by: making enquiries of management as to where they considered there was susceptibility to fraud, their knedge of actual. suspected and alleged fraud,. and considering the intemal controls in place to mitigate rl8k8 of fraud and non-compliance with laws and regulations,. To address the risk of fraud through management bias and override of controls, we.. performed analytical procedures to identify any unusual or unexpected relationship8; tested journal entries to identify unusual transactions., assessed whether judgements and assumptions made in detemiining the accounting estimates set out In Note 2 were indicative of potential bias; and investigated the ratlon818 behind significant or unusual transactions., In response to the risk of irregularitles and nonwcompliance with laws and regulations, we designed procedures which included, but were not limited to.. agreeing financial ststement disclosures to underlying supporting documentation., reading the minutes of meetings of Ihose charged with govemance., enquiring of management as to actual and potential litigation and claims., and reviewing correspondence with HMRC and the company's legal advisors., There are Inhent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-complian. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and ather management and the inspeth'on of regulatory and legal correspondence, if any. Material misslatements that arise due to fraud can be harder to detect Ihan those that arise from error as they may involve deliberate concealment or collusion.
FRIENDS OF THE CANCER CENTRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE DIRECTORS OF FRIENDS OF THE CANCER CENTRE Thi6 report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state lo the parent charilable companvs mernbers those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the charitable companys members as a body, for our audit work, for this report, or for the opinions we have fomied. Angela Cra an (Senior Statuto udltor) for and on behalf of Harblnson Mulholland Chartered Accountants Statutory Audltor Centrepoint 24 Ormeau Avenue Belfast Co. Antrim BT2 8HS Harbinson Mulholland is eligible for appointment as auditor of the Charity by virtu8 of its eligibility for appoinlment as auditor of a company under of section 1212 of the CompaniesAct 2006.
FRIENDS OF THE CANCER CENTRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Unrestricted Restrfcted funds funds 2023 2023 Total Total 2023 2022 Notes Income from: Donations and legacies Investments 1,390,345 63,249 221,834 1,812,179 1,618,944 63,249 39,681 Total Income 1,453,594 221,834 1,675,428 1,658,625 enditure on: Charitable activib'es 1,373,885 253,272 1,627,157 1,565,454 Net galnsl(losses) on investments (87,390) (87,390) 76,996 Net (exponditurellln¢ome for the yearl Net movement In fund8 (7,881) {31,438) (39,1191 170,167 Fund balances at 1 April 2022 3,359,319 77,647 3,436,966 3,266.798 Fund balances at 31 March 2023 3,351,638 46,209 3,397,847 3,436,965 The ststement of financi81 activities includes all gains and10858s recognised in the year. All income and expenditure derive from contlnulng activities. The statement of financlal activities also complies wlth the requirements for an income and expenditure account under the Companies Act 2006. The notes on pages 14 to 24 fom part of these finanaal statements. 10-
FRIENDS OF THE CANCER CENTRE STATEMENT OF FINANCIAL POSITION AS AT31 MARCH 2023 2023 2022 Notss Fixed assets Tangible assets Investments 11 12 1,594 1,135,623 1,160 1,223,013 1,137.217 1,224,173 Curr•nt a888ts Debtors Cash at bank and in hand 13 31,344 2,267,691 21,749 2,242,929 2,299,035 2,264,678 Creditor8: amounts falllng due wlthln one year 14 (38,405) (51,886) Net current assets 2,260,830 2,212,792 Totsl a88ets less currènt Ilabilitie8 3,397,847 3,436,965 Income funds Restricted fund6 Unrestricted funds Designated funds General unrestricted funds 15 46,209 T7,647 16 3,288,368 63,270 3,237,585 121,753 3,351,638 3,359,318 3,397,847 3,436,965 11
FRIENDS OF THE CANCER CENTRE STATEMENT OF FINANCIAL POSITION (CONTINUED) ASAT31 MARCH 2023 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 March 2023, although an audit has been carried out under sedion 65 of the Charities Act (Nl) 2008 . The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true anfj fair view of Ihe state of affairs of the company as al the end of the financial year and of its incorning resources and application of resources, induding its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to finoncial statements, so far as applicable lo the company. The members have not required Ihe company to obtain an audit of financial slatemerrt8 undar the requirements of the Companies Act 2006, for the year in quests'on in accordance wrth sedion 476. These finanaal statements have been prepared in accordance with the prowsions applicable to companies subject to the small companies regime. fj.1.::12Q25. The financial statements were approved by the Directors on ..... Mr B Cave Dlrector Mr R Donnan Director Company reglstration number N1616925 12
FRIENDS OF THE CANCER CENTRE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Notes Cash flow8 from operating actlvltie8 Cash (absorbed by)Igenerated from operations 21 {36,854) 11,718 Investlng activitios Purchase of tangible fixed assets Proceeds from disposal of tangible fixed assets Investment income received (1,7941 159 63,249 39,681 Net cash generated from investlng a¢tlvltl•s 61,614 39,681 Net eA•h u••d In financlng activltl•• Net Increa•• In ¢ash and cash equivalénts 24,760 51,399 Cash and ca8h equlvalents at beginning of year 2,242,930 2,191,531 Cash and cash aqulvalents at end of year 2,267,690 2.242,930 13-
FRIENDS OF THE CANCER CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting pollcle$ Charlty Information Friends of the Cancer Centre is a private company limited by guarantee incorporated in Northern Ireland. The registered office is Cancer Centre, Belfast City Hospit81, Lisburn Road, Belfast, Co. Antrim, BT9 7AB. 1.1 Accounting convention The financial statements have been prepared in accordance with the Companies Act 2006 and 'Accounting and Reporting by Charities.. Statemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Finanual Reporting Standard applicable in the UK and Republic of Ir8land (FRS 102)" las amended for accountin9 periods commencing from 1 January 2016). The Charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in steding, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial stat8ments have been prepared under the hislorical cost Convention, Imodified to include the revaluation of freehold propertie8 and to include investment properties and certain financial instruments at falr value]. The principal accounting policies adopted are set out below. 1.2 Going concern At the tirne of approving the financial statements, the Directors have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Directors continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charltable funds Funds held by the Charity are either: Unrestricted gener81 funds these are funds which can be used In accordance with the charitable objects 8t the discretion of the directors. Designated funds these are funds set aside by the directors out of unrestricted general funds for specific future purposes or projects. Restrlcted funds - these are funds that can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when the funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 1.4 Income Income is recognised in the period in which the Charity is entitled to receipt and the amount can be measured with reasonable certainty. Income is deferred only when the Charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period. Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities (SOFA) when re1Vable. Income received from activities for generating funds are included when collected. Investment income is included when re1Vable. Donated facilities are included at the value to the Charity where thls can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by valunteers. 14-
FRIENDS OF THE CANCER CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting pollcle8 (Continuad) 1.5 Expenditure Expenditur8 is included in the Statement of Financial Activities (SOFA) on an accruals basis, inclusive of any VAT which cannot be recovered. Costs of generating funds comprise the costs associated with attracting volunlary inceme. Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and servic85 for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitulional and statutory requirement5 of the Charity and include the audit fees and costs linked to the strategic management oflhe Charity. All costs are allocated be•een the expenditure categories of the SOFA on a ba8is deslgned to refiect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. staff lime and floor space as set out in Note 8. 1.6 Tanglblo flxed a8•ets Tangible fixed assets are initially measured at C08t and subsequently measured 8t Cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over thelr useful lives on the following bases.. Fixtures and fittings Computers 15Vo Straight line 250/0 Straight line The gain or loss arising on the disposal of an asset is determined as the difference beeen the sale praedS and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Fixed aa•et Inve8tments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomellexpenditurel for the year. Transaction costs are expensed as incurred. 1.8 Impalrment of flxed a8S0t• At each reporting end date, the Charity revlews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairrnent loss. If any such indication exists, the recoverable amount of Ihe asset is estimated in order to determine the extenl of Ihe impairment loss lif any). 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.10 Financial instruments The Charity has elected to appty the provisions of Section 11 'Basic Financial Instruments, and Section 12 'other Financial Instrumenls Issues, of FRS 102 to all of its financial instruments. Financial instrument5 are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrurnent. Financial assets and liabilities are offset, with the net amounts presented in the financial stalements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or lo realise the asset and settle the liability sirnultaneously. 15-
FRIENDS OF THE CANCER CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting pollcles (Contlnued) Baslc 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 c05t 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 dassified as receivable within one year are not amortised. Baslc financial Ilablllties Basic financial liabilities, includin9 creditor5 and bank loans are initially recogni8ed at transadion price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the prèsent value of the future payments discounted at a market rate of interest. Financial liabilities dassified as payable within one year are not amortised. Debt instruments are subsequently Caled at amortised cost, using the eff8Ctive intere8t rate method. Trade creditors are obllgatlons to pay for goods or services that have been acquired in the ordlnary course of operatlons from suppliers. Arnounts payable are dassified as current liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of flnancial liabllitles Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or rancelled. Crltlcal accountlng estlmates and judgèments In the application of th8 Charity's accounting policies, the Directors are required lo make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other f8Ctors that are considered to be relevant. Actual results may differ from these estimates. The estimat8$ 8nd undedying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where Ihe revision affects only that period, or in the period of the revision and future periods where the VIsion affects both current and fvture periods. Critlcal judgements Impaimient and depreciatlon Long-lived assets comprising primarily of computer equipment. The annual dèpreciation charge depends primarily on the estimated lives of each type of asset and, in certain circumslances, estimates of residual values. The directors regularly review these useful lives and change them if necessary to reflect current conditions. In determining these useful lives management consider technological change, patterns of consumption, physical condilion and expected economic uts'lisation of the assets. Changes in the useful lives can have a significant impact en the depreciation charge for the financial year. The net book value of tangible fixed assets subject to deprecialion at the financial year end date was £1,59412022.' £1,160). 16
FRIENDS OF THE CANCER CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Donatlons and legacies Unrestrictsd Rèstrlcted funds funds Total Unrestricted funds Restricted funds Total 2023 2023 2023 2022 2022 2022 Donation8 and gifts Grants 1,390,345 189,631 32,203 1,579.976 1,493,771 32,203 61,070 1,554,841 64.103 64,103 1,390,345 221,834 1,612,179 1,493.771 125,173 1,618.944 Donatlon• and gifts Supporter Events Gener81 Donations Corporate Donations Friends Groups Friends Events Legacies In lieu of flower6 Organisations HMRC GiftAid Merchandise Other 360,537 236,870 153,674 12,173 307,135 98,023 129,225 11,635 70,974 4,741 5,358 1,000 4,514 56,190 361,537 241,384 209,864 12,173 309,578 98,023 131,340 83,935 72,043 4,741 75,358 274,715 301,120 175,725 10,024 208,976 261,265 142,764 26,388 83,229 5,116 4,449 2,252 1,225 50,355 276,967 302,345 226,080 10,024 208,976 261,265 144,953 31,437 83,229 5,116 4,449 2,443 2.115 52,300 1,069 2,189 5,049 70,000 1,390,345 189,631 1,579,976 1,493,771 61,070 1,554,841 Other Incom8 includes £4,000 (2022.. £4,000) of donated servlces and facilities which ¢ompris8 the provision of office space and adminlstr8tlon services. A correspondlng amount is included wlthin the C05t of charitable activities. Grants recelvable f¢r core activltl•• Community Foundation Nl Domiant Account Fund Nl 48,000 48,000 32,203 32,203 16,103 16,103 32,203 32,203 64,103 64,103 17-
FRIENDS OF THE CANCER CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Investments Unre8trlcted Unrestrlcted funds funds 2023 2022 Investment income 63,249 39,681 Charltable actlvitie8 2023 2022 Research projects Patient care and comfort Clinical care Projed support Fundraising Administration Campaigns 397,155 318,261 388,710 229.762 162,349 76,461 32.386 364,457 411,637 383,534 156,638 120,050 71,698 30,989 1,605,084 1,539,003 Share of support costs (se8 note 6) Share of govemance costs (see note 6) 18,573 3,500 22,951 3,500 1,627,157 1,565,454 Analysls by fund Unrestricted funds Restrtct8d funds 1,373,88S 1,503,137 253,272 62.317 1,627.157 1,565,454 18-
FRIENDS OF THE CANCER CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Support co•ts Support Govomance costs costs 2023 Support Governance costs costs 2022 Insurance Rent, electricity and telephone Fundraisevs expenses Bank fees Legal and professional expenses Depreciation 2,847 2,847 2,543 2,543 4.000 8,293 1,938 4,000 6,293 1,938 4,000 5,525 1,911 4,000 5,525 1,911 2,294 1.201 2,294 1,201 7,697 1,275 7,697 1,275 Governance costs 3,600 3,500 3,500 3,500 18,573 3,500 22,073 22,951 3,500 26,451 Analysed beteen Charitable activitie5 18,573 3,500 22,073 22,951 3,500 26,451 Directors None of the Directors {or any persons connected wlth them) received any r6muneration or benefits from the Charity during the year. Employee8 The average monthly number of employees during the year was: 2023 Nurnb•r 2022 Number Administration Directors 12 17 Total 21 25 Employment C08ts 2023 2022 Wages and salaries Social security COSts Other pension costs 307,765 27,936 25,309 258,572 22.737 20,672 361,010 301,981 19
FRIENDS OF THE CANCER CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Employees (Continued) There was one employee with emoluments in excess of £60,000 per annum (2022.. 1). The total amount of employee benefits received by key management P8rsonnel in the period was £219,772 (2022.. £196,695). The key management personnel of the Company comprises 4 memb8rs of staff (2022.. 4); the CEO, Finance & Administration Mangger, Head of Fundraising and the Communications & Project Manager. Net gain81(10gBes) on Investments Unre#trlct•d funds Total 2023 2022 Rev8luatlon of investments (87,3901 76.996 10 Taxatlon The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its ch8ritable objects. 11 Tanglble fixed a8••ts Flxturas •nd flttlng• Comput•rn Totsl Cost At 1 April 2022 Additions Disposals 1,573 12,681 1,794 {300) 14,254 1,794 (300) At 31 March 2023 1,572 14,175 15,747 Depreclatlon and impalrment At 1 April 2022 Depreciation charged in the year Eliminated in respect of disposals 1,265 307 11,830 893 (141) 13,095 1,200 (141) At 31 March 2023 1,572 12,581 14,153 Carrying amount At 31 March 2023 1,594 1,594 At 31 March 2022 308 852 1,160 -20-
FRIENDS OF THE CANCER CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 12 Fixed asset Inveslments Listed Investments Cost or valuatlon At 1 April 2022 Valuation thanges 1,223,013 (87,390) At 31 March 2023 1,135,623 Carrylng amount At 31 March 2023 1,135,623 At 31 March 2022 1,223,013 The Investments are held as part of the Northern Ireland Gentral Investment fund for Charit188. The investments are held at Market Value. 13 Debtor8 2023 2022 Amounts falling due withln one year. other debtors Prepayments and accrued income 28,474 2,870 17,552 4,197 31,344 21,749 14 Cr•dltor8: amount• falllng due wtthln one y••r 2023 2022 Trade creditors Other creditors Accruals and deferred income 20,223 202 17,980 37,835 786 13,265 38,405 51,886 21
FRIENDS OF THE CANCER CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 15 Restrlcted funds The income funds of the ch8rity include restricted funds cornpri5ing the following unexpended balances of donations and grants held on tTUSt for specific purposes: Movemant in fundg Incomlng R•Soue* Bal•n¢• at ro8ourc•• •xponded 31 March 2023 8•l•n¢• at l Aprll 2022 Research Clinical care Patient care Grants received 23,950 105,531 80,150 32,203 (23,950) {95,172) {71,410) 162,740) (2) 23,135 54,514 10,357 11,875 23,977 77,647 221,834 (253,272) 46,209 Restricted funds are legacies and donations recelved for specified purposes within the overall aims of the Charlty. Funds received for research are used to support cancer research in the centre. Induded within Clinical care is £32,240 received from Applegreen Plc. This partnership works to provide support for the Centre's Teenager and Young Adult Programme, funding vrtal nursing hours for teenagers and young adults with support during and after treatment. -22-
FRIENDS OF THE CANCER CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 16 Designatsd funds The incorne funds of the charity include the following designated funds which have been sel aside out of unrestricted funds by the Irustees for specific purposes= 8alance at 1 Aprll 2022 R•itsur¢•• frxpend•d Tran•ler• Bahn¢• at 31 PAarch 2023 Research Clinical car8 Patient care Campaigns 343,368 2,158.237 735.962 (397,155) (318,261) (386,710) (32,386) 845,087 118,689 191,153 32,386 791,298 1,958,665 538,405 3,237,565 (1,136,512) 1,187,315 3,288,368 Many of the projects funded by the Charity span several years. For example, a research project post may be approved for more than one year or, the purchase of equipment may require a mainten8nce contract. To recognise these future commitments and ensure Ih8t there are no unexpected interruptions in the funding of the work supported by the Charity, the directors designate the funds needed for the next year of the project. For some specific projects hyo years of required funds have been designated. Designaled funds are not restricted by nature. 17 Analysi8 of net assets between funds Unrestrlctsd Re8trlcted fundg funds 2023 2023 Total Unrestricted funds 2022 Restricted funds 2022 Total 2023 2022 Fund balances at 31 March 2023 are represented by.. Tangible assets Investments Current assetsllliabilities) 1,594 1,135,623 2,223,013 1,594 1,160 1,135,623 1,223,013 37,615 2,260,828 2,135,144 1,160 1,223,013 77,647 2,212,792 3,360,230 37,615 3,397.845 3,359,317 77,647 3,436,965 18 Retirement beneflt gcheme8 The Charity operates a defined contribution pension scheme for all qualifying employee5. The assets of the scheme are held separately from those of Ihe Charity in an independently administered fund. The pension cost and charye represents contributions payable by the company to the fund and amounts to £25,30912022.' 20,672). 19 Flnanclal comrnitrnents, guarantees and contingent liabilitles There were no financial commitments at the balance sheet date over and above monies in designated fund5. 20 Relatsd party transactions There We no disc105able related party transactions during the year (2022 - none). -23-
FRIENDS OF THE CANCER CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 21 Cash generated from opèratlons 2023 2022 (Deficit)Isurpus for the year (39,119) 170,167 Adjustments for.. Investment income recognised in slatement of financial activtties Lossl(gain) on disposal of investments Depreaation and impairment of tangible fixed assets (63.249) 87,390 1,200 (39,681) (76,996) 1,275 Movements in working c8pital'. (Increase)Idecrease in debtors (Decrease) in creditors (9.595) (13,481) 407 (43,454> CJ•h (absorbed by)Igeneratsd from operatlon8 136.854) 11,718 -24-