Operations and Financial Review (continued)

Going Concern

Management and the Trustees regularly review detailed forecasts of income, expenditure and cash flows, typically projecting forward 12 months or more. The assumptions underlying the budget and forecasts are challenged, varied and tested to establish the likelihood of a range of possible outcomes including reasonable cash flow sensitivities. The forecast performance is carefully monitored against actual outcomes each month and variances are highlighted, analysed and discussed at Management and Board level.

The Trustees have reviewed cash flow forecasts for the period to st December 2023 and considered cash flow requirements for this period for the purposes of approving these financial statements.

The cash flow forecasts indicate that the Charity will be able to pay its liabilities as they fall due for the period until at least 31st December 2023. In the event that income does not hit the projected levels, management is able to adjust discretionary expenditure to relieve any short-term cash pressures which might arise.

Given the previous experience of negative reserves, the Trustees have specified maintaining a minimum available cash balance of £500k, which we have consistently attained. Indeed, throughout the last 12 months, cash has exceeded £2 million and we finished the year with over £5 million. The Charity is now exploring suitable investments that will protect this cash from the ravages of inflation.

The Trustees are, therefore, satisfied that the financial statements should be prepared on the going concern basis and have advised Management to work on the basis of a continued growth strategy with initiatives and contingencies built in. Management also focus on building reserves that allow for sustainable research funding of our Centres and the growth of our network as we introduce new Centres, whilst also continuing to campaign for increased national investment in brain tumour research.

Trustees’ Responsibilities in Relation to the Financial Statements

The Trustees, who are also directors of the charitable company (for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the Charity for that period. In preparing these financial statements, the Trustees are required to:

• Select suitable accounting policies and then apply them consistently

• Observe the methods and principles of the Charities SORP FRS 102

• Make judgements and estimates that are reasonable and prudent

• State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements

• Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of Disclosure to Auditors

Insofar as the Trustees are aware:

• There is no relevant audit information of which the charitable company’s auditor is unaware

• The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information

• The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions

Approved by the Trustees on 25th January 2023 and signed on their behalf by

Wendy Fulcher Chairman of the Trustees