Overcoming breast cancer piece by piece Annual report and accounts 2012/13
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Contents Welcome from our Chair
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Trustees’ report
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Our year at a glance
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Research across the UK and Ireland
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Our vision and mission
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Our ambitions Our achievements for the year
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Risk and prevention
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Unlocking genetics
12
Early and effective diagnosis
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Understanding breast cancer biology
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Improving treatment
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Tackling secondary breast cancer
20
Living with and beyond breast cancer
22
Biobanking and enabling research
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Our future plans
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Financial review
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Governance, structure and management
30
Statement of Trustees’ responsibilities
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Independent auditors’ signature
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Financial statements
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Consolidated statement of financial activities
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Consolidated balance sheet
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Charity balance sheet
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Consolidated cash flow statement
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Notes to the financial statements
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Legal and administrative details
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Acknowledgements 54
Welcome from our Chair I am pleased to present our annual report and accounts for the year ending 30th June 2013. We aim to overcome breast cancer by 2050. It’s an ambitious goal and the clock is ticking. We believe that our work this year has helped us fill some of the missing pieces in moving towards a world where breast cancer is overcome and outlived. This year, we invested £6.2 million into breast cancer research, campaigning and education, and awarded 44 grants to 183 researchers at institutions across the UK and Ireland. The results of our existing research projects included important findings in areas such as genetics, early and effective diagnosis, and improving treatment. Nearly 850 patients donated their breast cancer tissue to our pioneering Tissue Bank, which received requests for 1,835 samples. Our campaigning work has also gone from strength to strength, with successes including Chancellor George Osborne’s decision to maintain the Charity Research Support Fund (which is currently worth £198 million annually), in 2015/16, in response to our Keep the Power On campaign.
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None of this would be possible without our generous supporters, who have helped us raise £10.6 million for our life-saving research. We can be proud of our achievements and the positive impact we continue to make. However, we know that there is still much to do. In the year ahead, we aim to further close the gaps in breast cancer research, and advance prevention, treatment and support for those affected by the disease. We have set clear goals across our eight critical areas of breast cancer work, and know the actions we need to take to make a difference for the 50,000 mums, wives and daughters diagnosed with breast cancer every year. I look forward to sharing further successes with you next year.
Isla Smith Chair, Board of Trustees Breast Cancer Campaign
Trustees’ report Breast Cancer Campaign’s Board of Trustees has pleasure in presenting its annual report and accounts for the year ending 30th June 2013. These comply with the charity’s Memorandum and Articles of Incorporation and the Charity Commission’s Statement of Recommended Practice (SORP) – Accounting and Reporting by Charities, as revised in 2005. Our strategic goals Breast Cancer Campaign has three strategic goals that drive its five-year strategy and operational plans. These are: o advance the scientific understanding of all aspects of 1. T breast cancer 2. To prevent the occurrence and progression of breast cancer 3. T o increase our support and influence to improve the lives of those affected by breast cancer.
Public benefit Breast Cancer Campaign’s primary objective, as set out in its Memorandum and Articles of Association, is to promote research into the causes and treatment of breast cancer. The Trustees have considered the Charity Commission’s guidance on public benefit when reviewing our aims and objectives and in planning future activities, including the development of a new four-year strategy (2013/17), including strategic goals, which was approved by the Board of Trustees in July 2013.
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Our year at a glance
£3.5m We invested £6.2 million across our eight critical areas of breast cancer work, including £4.7 million into world-class research.
£6.2m
This included investing £3.5 million into 4 PhD grants, 23 pilot grants and 17 project grants, supporting just over 180 researchers from 25 universities, hospitals and other institutions across the UK.
183
We awarded 44 grants to 183 researchers at institutions across the UK and Ireland.
850
Nearly 850 patients generously donated their breast cancer tissue to our Tissue Bank for world-class researchers to progress their research and the Bank received requests for 1,835 samples. 4
£10.6m Thanks to the generous and continued commitment of all our supporters, we raised £10.6 million to fund research that improves and saves lives.
£2.1m
Hundreds of thousands of supporters in the workplace, homes and schools throughout the country wore it pink at the end of October to raise £2.1 million. Across Westminster, Scotland and Wales, a record 282 parliamentarians united to wear it pink.
Leading London landmarks united with us to show their very public support for breast cancer research by turning pink. These included, for the first time, Buckingham Palace, as well as the Tower of London, Trafalgar Square, Nelson’s Column, and the BT Tower. This led to an almost 700% increase in visits to our website.
700% £198m
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Our researchers published 62 papers in high impact journals, including Molecular Cell, PLOS Biology and The Journal of Cell Biology, enabling us to advance scientific progress in breast cancer.
Around 2,500 people across the country joined our Keep the Power On campaign to protect £198 million worth of critical funding and investment in medical research. In his spending round statement to the House of Commons on 26th June 2013, Chancellor George Osborne said: “We will continue to back the Charity Research Support Fund and look into making it easier for these organisations to benefit from Gift Aid.”
£30m
Our long-term partner Asda celebrated a huge milestone for their Tickled Pink campaign, which has raised a staggering £30 million in 16 years for breast cancer, thanks to the incredible support of their colleagues and suppliers. 5
Research across the UK and Ireland Campaign invested £4.7 million in world-class research throughout the UK and Ireland in 2012/13, bringing its total research investment to date to more than £47 million.
£547,500
of grants have been awarded in Scotland. These are looking at improving treatment and understanding breast cancer biology.
£236,000
£20,000
of grants have been awarded in Northern Ireland. This research is investigating unlocking genetics.
of grants have been awarded in the Republic of Ireland. These will be tackling secondary breast cancer and understanding breast cancer biology.
£479,000 £1.35m
of grants have been awarded in the North of England. This research is looking at early and effective diagnosis, tackling secondary breast cancer, improving treatment, and understanding breast cancer biology.
of grants have been awarded in the Midlands. The research will be looking at unlocking genetics and understanding breast cancer biology.
£2.08m
of grants have been awarded in London and the South East of England. These grants include research looking at unlocking genetics, living with and beyond breast cancer, tackling secondary breast cancer, improving treatment, and understanding breast cancer biology. 6
Our vision To ensure that breast cancer can be overcome and outlived.
Our mission To accelerate progress, we bring together and mobilise the brightest minds and biggest hearts to drive world-class research, influence policy and practice, share knowledge and kick-start innovation.
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Our ambitions We hope to overcome breast cancer by 2050 Risk and prevention By 2025, we hope individual cancer risk will be more precisely predictable and up to 20% of all breast cancers will be prevented. Unlocking genetics By 2030, we hope all patients will benefit from individual care and treatment made possible by understanding all of the genetic variables relating to breast cancer. Early and effective diagnosis By 2025, we hope over 60% of breast cancers will be diagnosed before they are symptomatic. Understanding breast cancer biology By 2030, we hope what causes different tumours to grow and progress will be identified, enabling us to select the best treatment for every patient.
Tackling secondary breast cancer By 2020, we hope 25% fewer people will develop secondary breast cancer and by 2030 more than half of those who develop secondary breast cancer will survive beyond five years. Living with and beyond breast cancer By 2025, we hope all those diagnosed with breast cancer, and the people close to them, will receive individually tailored information and support to meet their needs, to help them live with and manage the consequences of breast cancer and its treatment. Biobanking and enabling research By 2023, we hope a fully cohesive and collaborative infrastructure to support breast cancer research across the UK will be in place, speeding up the pace of discovery and translation into patient benefit.
Improving treatment By 2025, we hope improved and more personalised treatments for breast cancer will reduce mortality from breast cancer by half.
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Our achievements for the year
Risk and prevention By 2025, we hope individual breast cancer risk will be more precisely predictable and up to 20% of all breast cancers will be prevented.
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Our work in 2012/13 contributed to tackling the lack of research in this area. We created our Collaborators for a Cure Fund, designed to bring together the brightest minds to commission research collaborations to address persistent and critical gaps in breast cancer research, including risk and prevention. This is the first fund of its kind for the charity and will complement our highly successful grant funding. As part of this, we began work to establish a Commissioned Research Advisory Board to help us commission more risk and prevention research. Specifically, we wish to understand the effectiveness of chemoprevention drugs tamoxifen and raloxifene in high- to moderate-risk women and fund an analysis of existing evidence around diet in the prevention of breast cancer. Among policy makers and parliamentarians, we also raised awareness that chemopreventative treatments were not routinely available across the country, and also how licensing barriers might be overcome.
NICE subsequently decided to make these treatments routinely available for the first time on the NHS We responded to a consultation by the National Institute for Health and Care Excellence (NICE) on its Familial breast cancer guideline, with the aim of ensuring chemopreventative drugs were made available to women with a family history of the disease. NICE subsequently decided, in June 2013, to make these treatments routinely available for the first time on the NHS – a landmark moment in preventative treatment. We worked with the media to respond to more than 30 news stories about new evidence around breast cancer risk factors, and developed new content for our website, Facebook and Twitter, to promote accurate, evidence-based messages to our supporters and the public.
We hope that 20% of breast cancers will be prevented by 2025. 11
Our achievements for the year
Unlocking genetics By 2030, we hope all patients will benefit from individual care and treatment made possible by understanding all of the genetic variables relating to breast cancer. 12
Our work in 2012/13 contributed to fundamental progress in unlocking the genetics of breast cancer for women now and in the future. Thanks to Campaign funding, Professor Angela Cox published research highlighting that a variant of the Caspase 8 gene could influence breast cancer risk. She also contributed to the international Breast Cancer Association Consortium, which published evidence of more than 70 new genetic variants linked to breast cancer risk. This work hugely increased our knowledge about genetic variations that have a small influence on breast cancer risk but may be more common than higher-risk mutations, such as those in the BRCA genes. Dr Jo Morris has been working to reveal exactly how cells respond to DNA damage, as when this response goes wrong, the damage can result in cancer. In a paper published in August 2012, Dr Morris’s PhD students Laura Butler and Helen Stone contributed to work showing that the protein POH1 plays multiple important roles in DNA repair, including interactions with the BRCA1 and BRCA2 genes. Even slightly reducing levels of this protein made cells in the laboratory more sensitive to a widely used chemotherapy drug (cisplatin) and radiation similar to that used in radiotherapy treatments. These exciting findings suggest that therapies developed to target POH1 could improve current treatments.
In March 2013, Professor Diana Eccles and other Campaign-funded researchers published research linking a genetic variation near the ARRDC3 gene to why some women who get breast cancer at a younger age have a reduced chance of survival. This is one of the first links between inherited variations and prognosis for breast cancer, and, following further research, could inform treatment for younger women.
These exciting findings suggest that therapies developed to target POH1 could improve current treatments Access to genetic testing is an issue we hear about regularly from women who may have a greater risk of developing breast cancer. Previously, women with a 20 per cent chance of having a BRCA mutation (ie at a high risk of breast cancer) were offered testing for a mutation only when they had a family member who had already had breast cancer and was available to be tested first. This year, we responded to NICE’s consultation on their Familial breast cancer guideline. Following the publication of the new guideline in June 2013, some women will now have access to genetic testing even when they have no suitable family member to be tested first, and the threshold for testing has been lowered to a 10% chance of a BRCA mutation.
We funded 4 new research projects worth ÂŁ221,000. 13
Our achievements for the year
Early and effective diagnosis By 2025, we hope over 60% of breast cancers will be diagnosed before they are symptomatic.
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Our work in 2012/13 contributed to fundamental progress in the early and effective diagnosis of breast cancer, which gives the greatest chance of survival. Currently, women over 40 with an increased risk of developing breast cancer due to family history are offered a yearly mammogram. With funding from Campaign, Professor Gareth Evans reviewed existing evidence and in June 2013 published work showing that some women under 40 at higher risk who went for mammographic screening had their cancer detected at an earlier, more easily treatable stage. He is now conducting a large-scale prospective clinical trial, which will inform international best practice for monitoring these women. Promoting early and effective diagnosis has been a key strand of our work this year, in recognition of the impact early diagnosis has on survival rates. Awareness of breast cancer is a key part of this, which is why, with ICM Research, we undertook a survey on breast cancer awareness and additionally held a focus group with women affected by breast cancer. This led to the development of our online breast awareness quiz, which was taken almost 12,000 times. We also now send monthly breast check reminders to around 700 women.
his led to the T development of our online breast awareness quiz, which was taken almost 12,000 times Building on our track record of research and campaigning work around older women and breast cancer, we publicly welcomed the work of the Be Clear on Cancer campaign targeted at women over 70, and called for the campaign to be rolled out nationally. Alongside Breakthrough Breast Cancer and Breast Cancer Care, we also supported the inquiry work of the All Party Parliamentary Group on Breast Cancer on older age and breast cancer, which included a specific focus on early and effective diagnosis. An independent review of the NHS Breast Screening Programme reported in October 2012. We worked with Breast Cancer Care and Breakthrough Breast Cancer to ensure a clear, evidence-based response was communicated to the public. We publicly support the screening programme as a vital tool in detecting breast cancer earlier and saving lives. We also believe it is important that women are informed of the potential of overdiagnosis from screening. Alongside the other breast cancer charities, we therefore welcomed the announcement that the screening leaflet would be reviewed, and we participated in the panel reviewing the leaflet, which was published in summer 2013.
We funded 2 new research projects worth ÂŁ174,000. 15
Our achievements for the year
Understanding breast cancer biology By 2030, we hope what causes different tumours to grow and progress will be identified, enabling us to select the best treatment for every patient. 16
Our work in 2012/13 contributed to significant progress in understanding the biology of breast cancer. Scientists believe that tumours originate in cells such as stem and progenitor cells, since only these cells live long enough to obtain all the genetic mutations required to progress from a normal to a cancerous state. Stem cells differ from normal cells in their ability to generate different types of specialised cell, for example skin, nerve or blood cells, and their ability to selfrenew indefinitely. Along the journey of a stem cell differentiating into a specialised cell, they go through a stage of being ‘progenitor’ cells, which have qualities of both stem cells and normal cells. In October 2012, Campaign-funded scientists Professor Christine Watson and Dr John Stingl and their collaborators published their discovery of two previously unknown types of progenitor cells. One of the progenitors the team identified has the oestrogen receptor, which is essential for controlling the growth effects of the female sex hormone oestrogen. They observed that these cells can survive better than other cells in low oestrogen environments. This suggests that postmenopausal breast cancer may originate in these cells, as women have lower oestrogen levels after the menopause.
ampaign-funded C scientists published their discovery of two previously unknown types of progenitor cells The team also identified a type of progenitor cell with low levels of the oestrogen receptor. This type of cell has genetic similarities to basal-like breast cancer (an aggressive type of breast cancer seen more commonly in younger women), which seems to show that basal-like breast cancer could originate from these cells. This research may explain where different types of breast cancer develop from and provide clues about the connection between age and the different types. This knowledge could help us develop better prognostic tests and targeted treatments in the future.
15 We funded 15 new research projects worth ÂŁ1.2 million. 17
Our achievements for the year
Improving treatment By 2025, we hope improved and more personalised treatments for breast cancer will reduce mortality from breast cancer by half. 18
Our work in 2012/13 contributed to significant progress in the effective treatment of breast cancer. Patients are often given drugs such as tamoxifen and aromatase inhibitors, which help to prevent breast cancer returning and spreading, by blocking the effects of the hormone oestrogen. Unfortunately, the unpleasant side-effects could mean that some women are failing to continue their treatment. Campaign-funded researcher Dr Colin McCowan released findings in March 2013 about women discontinuing treatment. He found that at least half of women who were prescribed a five-year course of anti-hormone breast cancer treatment, in Tayside, Scotland, stopped taking it, or took markedly less than prescribed, from the third year onwards. Women who followed their treatment regime for up to three years, but then took fewer than 80% of their pills in the fourth and fifth years, were at a higher risk of their cancer returning, and of dying from breast cancer, than women who took over 80% of the prescription over each of the five years. Dr McCowan is now interviewing women to understand exactly why some stop taking the drugs. Dr Weiguang Wang has successfully encapsulated disulfiram (DS), an antialcoholism drug that has shown promise in treating cancer, into fat molecules, to make Lipo-DS. Lipo-DS is stable in the bloodstream for a few hours, compared with four minutes of disulfiram alone, so it has more time to work. This pilot study showed that in cells in the laboratory and in mice, Lipo-DS selectively kills breast cancer cells but spares normal cells. These results, presented in 2012, are a promising first step for a drug that is already in use and is relatively cheap.
We funded 13 new research projects worth ÂŁ1.25 million.
Ensuring access to the best, targeted treatments forms a key area of our policy activity. For example, we welcomed the existence of the Cancer Drugs Fund, which has been fully operational since April 2011. The Fund makes drugs that are clinically effective, but not approved by NICE, available to patients. Over the past year, we continued to monitor the progress of the Fund, including the move from regional lists to a national list in April 2013.
These results are a promising first step for a drug that is already in use and is relatively cheap We also commented publicly on the availability of a number of new breast cancer drugs, including a number of treatments for secondary breast cancer that have been rejected by NICE. It is widely acknowledged that there are barriers to older women receiving access to certain treatments. This year, we supported new age discrimination regulations, which came into force in October 2012, and continued to highlight the reference in the Breast Cancer Quality Standard to people with early invasive breast cancer being offered treatment, irrespective of age. We have called for additional monitoring to ensure that the legislation and the guidelines are being adhered to.
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Our achievements for the year
Tackling secondary breast cancer By 2020, we hope 25% fewer people will develop secondary breast cancer and by 2030 more than half of those who develop secondary breast cancer will survive beyond five years. 20
Our work in 2012/13 contributed to important progress in tackling secondary breast cancer. We have funded Dr Ingunn Holen’s pioneering research into understanding how breast cancer spreads to the bone and the value of different treatment combinations since 2002. In 2012, the team showed that even a very small number of cancer cells can cause changes to the bones, and showed how rapidly the cancer cells ‘hijack’ normal repair processes and cause bone destruction. The work also showed that, when in direct contact with a cancer, there are far fewer of the cells that form bone (osteoblasts) and more of the cells that break it down as part of normal repair (osteoclasts). As a result, these areas will be less stable than normal bone. This work has generated new ideas around the timing of when breast cancer spreads to the bone, highlighting how early this needs to be stopped.
We took a range of actions this year to ensure that the experiences of women with secondary breast cancer are improved and monitored. We focused on the importance of health services delivering against the required statements set out in the Breast Cancer Quality Standard (BCQS). Two particularly relevant statements set out that people who develop local recurrence, regional recurrence and/or distant metastatic disease should have their treatment and care discussed by a multi-disciplinary team; and that people with recurrent or advanced breast cancer should have access to a ‘key worker’, who is a clinical nurse specialist.
We took a range of actions this year to ensure that the experiences of women with secondary breast cancer are improved and monitored We are concerned about the lack of national monitoring in relation to these statements. We therefore highlighted the importance of NHS England monitoring the BCQS, including by raising this issue in a meeting with the Prime Minister and responding to a consultation on the Clinical Commissioning Group Outcomes Indicator Set by calling for the inclusion of relevant indicators.
We funded 9 new research projects worth £654,000. 21
Our achievements for the year
Living with and beyond breast cancer By 2025, we hope all those diagnosed with breast cancer, and the people close to them, will receive individually tailored information and support to meet their needs, to help them live with and manage the consequences of breast cancer and its treatment. 22
Our work in 2012/13 contributed to important progress to help those diagnosed with breast cancer live with and beyond the disease. We recognised that this area has some unique challenges that need bespoke solutions and are committed to finding new ways to support this area through our Collaborators for a Cure Fund.
Campaign-funded work by Professor Diana Harcourt found differences in the breast cancer experiences of white, black and South Asian women in the UK
Although rarer in younger women, breast cancer can develop at any age. When it does, it leaves a lot of young women worrying about whether or not they will be able to have children in the future. Professor Ros Corney studied the psychological and social issues faced by young women with breast cancer who haven’t had children. Her study found that the emphasis placed on fertility issues varied considerably from hospital to hospital, and many of the women felt they had not been given adequate information on the impact that their treatments could have on their fertility. Single women were even less likely to have had their fertility needs considered and discussed. At the end of her study, in 2012, Professor Corney made recommendations including separate consultations focussing on fertility, leaflets for younger women on all aspects of breast cancer and routine counselling for young women with the disease.
Campaign-funded work by Professor Diana Harcourt found differences in the breast cancer experiences of white, black and South Asian women in the UK. For example, black and South Asian women are more likely to rely on religion as a source of support than white women. They also reported greater body image issues and a poorer quality of life than white women.
We funded 1 new research project worth ÂŁ20,000. 23
Our achievements for the year
Biobanking and enabling research By 2023, we hope a fully cohesive and collaborative infrastructure to support breast cancer research across the UK will be in place, speeding up the pace of discovery and translation into patient benefit. 24
Our work in 2012/13 contributed to significant progress in greater collaboration, focus and progress in breast cancer research, including biobanking. The Breast Cancer Campaign Tissue Bank continues to successfully develop as a model for human tumour banking in the UK and internationally. This year, it collected breast cancer tissue samples from nearly 850 women across the UK. The University of Sheffield joined the collaborative network and is preparing to transfer DNA from 1,000 breast cancer patients to the Bank. The Bank received requests for a total of 1,835 samples, and just over 900 samples were distributed to researchers across the UK undertaking projects such as identifying the genes involved in breast cancer in men, understanding breast stem cells and predicting prognosis for patients with HER2-positive breast cancer. The Bank’s data return policy is designed to maximise the long-term value of the tissue in the Bank, by allowing researchers free access to all new information generated through research using the Bank’s material. This year has seen the return of the first set of research data generated by tissue from the Bank.
This year has seen the return of the first set of research data generated by tissue from the Bank We conducted a planned three-year review of the Breast Cancer Campaign Tissue Bank before further funding was committed. This included successful audits of the four core centres and positive responses by the centres to the findings. Campaign Trustees supported the continued funding for two years, after concluding that the Bank has achieved an enormous amount over a relatively short time. The Tissue Bank Appeal continues to go from strength to strength. Through the generous donations we’ve received, not only have we been able to fund the Tissue Bank infrastructure as outlined above, but also to ensure that research, utilising the tissue from the bank, is funded and builds up the dynamic bioinformatics knowledge base.
We invested £1.16 million directly into our Breast Cancer Campaign Tissue Bank. 25
Enabling research In spring 2013, we brought together over 100 leading, internationally-recognised breast cancer experts and patient advocates to explore which gaps in research, if filled, would bring the greatest patient benefits. This resulted in a 15,000 word analysis, which was peer reviewed by the journal Breast Cancer Research for publication in autumn 2013. In his spending round speech to Parliament, Chancellor George Osborne committed to maintaining the Charity Research Support Fund (CRSF) in 2015/16, which is currently worth £198 million annually, and which supports the indirect costs of research when charities fund the direct costs. This was in response to our Keep the Power On campaign, which aimed to protect vital investment in medical research. Collaborative activity on the CRSF included a letter co-ordinated by Breast Cancer Campaign and signed by over 40 research organisations, including Cancer Research UK and the British Heart Foundation, as well as 130 leading scientists. The letter featured in The Telegraph and in a front-page article in the paper. Gift Aid is an important source of funding for charities, and our campaign also secured the Treasury’s agreement to widen the scope of the Gift Aid consultation, as well as the Treasury Select Committee’s agreement to consult third party experts on Gift Aid.
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“ We will continue to back the Charity Research Support Fund and look into making it easier for these organisations to benefit from Gift Aid”
Chancellor George Osborne MP, Comprehensive Spending Review statement, House of Commons, 26th June 2013
In 2010, the Government included the Human Tissue Authority (HTA) in a list of bodies that could be abolished or merged. In June 2012, a consultation was launched, proposing moving the HTA and the Human Fertilisation and Embryology Authority (HFEA) into the Care Quality Commission and/or the Health Research Authority. We highlighted our concerns about the potential loss of vital expertise that would result, and so, in January 2013, we welcomed the Government’s decision not to abolish the HTA. A subsequent review looked into a merger of the HTA and HFEA but concluded there were insufficient benefits. In March 2013, we responded to a Government consultation on the withdrawal of the VAT exemption for business supplies of research between eligible bodies. We were concerned about the possible implications for medical research funded by charities. We were very pleased when the Government subsequently made it clear that charityfunded collaborations between researchers would not be liable for VAT.
Our future plans In the year ahead we will drive world-class research, influence policy and practice, share knowledge and kick-start innovation across our eight critical areas of breast cancer work. We aim to close the existing gaps in breast cancer research – in particular in risk and prevention and living with breast cancer – and advance prevention, treatment and support for those affected by breast cancer. Risk and prevention • We will commission research into the risk and prevention of breast cancer. For example, research into the effectiveness of chemoprevention drugs in high- to moderate-risk women and an analysis of existing evidence around diet in the prevention of breast cancer. Unlocking genetics • We will fund research into how genes influence the outlook for younger women. e aim to collaborate with Genomics • W England in their vital 100,000 Genome Project. Early and effective diagnosis • We will fund a large-scale clinical trial to determine how effective mammography is in detecting breast cancer earlier in younger women with a family history of breast cancer.
e will develop further our breast • W awareness activity to improve awareness of signs and symptoms among the public and our supporters. e will support the promotion of the • W national Be Clear on Cancer campaign for women over 70. Understanding breast cancer biology • We will make the world’s largest collection of male breast cancer tissue accessible via the Breast Cancer Campaign Tissue Bank. e will fund further research into triple • W negative and basal-like breast cancer. Improving treatment • We will call on NHS England to commission a breast cancer audit, as committed to by the Department of Health in 2011. e will progress plans for a clinical • W development grant funding stream, to enable researchers to translate new and promising therapeutic or diagnostic discoveries. e will explore funding a breast • W surgical lead as part of the Royal College of Surgeons (England) Surgical Trials Initiative, in partnership with other breast cancer charities.
e will fund research into a new • W technique to develop better ways to identify higher breast density in women.
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Tackling secondary breast cancer • We will promote the existence of the Breast Cancer Quality Standard and the need for reporting on performance in relation to key statements within it, including access to clinical nurse specialists for women with secondary breast cancer. Living with and beyond breast cancer • We will develop our plans around collaborative psychosocial workshops that investigate how best to implement proven intervention programmes. e will fund research to address some • W of the difficult issues associated with breast cancer diagnosis, including research to develop a tool to help women cope with the anxiety of having breast cancer. e will support the NCRI’s Breast • W Cancer Clinical Studies Group Working Party on Symptom Management.
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Biobanking and enabling research • We will invest in the expansion of the Breast Cancer Campaign Tissue Bank, to address existing gaps in the collection and provision of tissue (including normal and metastatic), data and biomarkers. • W e will continue to fund PhD studentships and Scientific Fellowships to continue to build the talent pool in breast cancer research. e will continue to highlight the • W importance of the Charity Research Support Fund, including the need for the money allocated to the Fund to match the investment provided by charities. e will ensure that the barriers faced in • W claiming Gift Aid are on the agenda, including the difficulties in accessing Gift Aid on small donations made in the workplace.
Financial review Income Despite a continued tough economic environment with an ever increasing cost of living, total income increased slightly from the previous year to £10.6 million. This was largely due to the sustained success across our fundraising activities – £3 million from voluntary income, £3.33 million from corporate partnerships and £3.43 million from our fundraising events – plus increased investment income of £0.83 million. Fundraising and governance costs totalled £3.9 million. Charitable expenditure As a result, we were able to sustain our investment in world-class breast cancer research, investing a total of £6.24 million into research grants, campaigning and education throughout the UK and Ireland. This included £1.16 million to the Breast Cancer Campaign Tissue Bank and £3.59 million in research grants. Result and funds There was a surplus of £0.58 million at the year end. Total funds of £9.96 million were carried forward at 30th June 2013, of which £1.45 million are restricted, as detailed in note 16 to the financial statements. The majority of this is immediately available for the November 2013 grants round.
Reserves policy Free reserves – which are those unrestricted funds not invested in fixed assets, designated for a specific purpose or otherwise committed – are required to be held by the charity to provide funding for future research grants. At 30th June 2013, these free reserves stood at £8.5 million. The trustees have made £8.5 million available to fund future research projects, leaving a balance of approximately six months’ operating costs. Intellectual property Breast Cancer Campaign has an agreement with Cancer Research Technology (CRT) to ensure that any intellectual property resulting from research funded by the charity is properly protected and exploited by the relevant institutions. CRT contracts all new grant-holders and visits where appropriate. It reports to the Board on progress.
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Governance, structure and management Status Breast Cancer Campaign the charity is a company limited by guarantee and a registered charity in England and Wales (No.299758) and Scotland (No. SC039974). Board of Trustees and governance The Trustees meet formally four times during the calendar year. One or more Trustees may meet separately or with individual members of staff relevant to particular activities, which are then reported back to the Board. There is a Finance Committee of the Board, which is chaired by the Treasurer, and a Remuneration Committee, which determines the remuneration of the Chief Executive and the Senior Management Team (SMT). The Trustees who served during the year are indicated below. Consistent with the charity’s governance requirements, Trustees retire after a maximum of nine years’ service (three terms in office). Trustees contribute their services voluntarily. A skills audit of the Board is done on a regular basis and Trustees are recruited through various routes, including via a recruitment consultant and prior involvement with the charity’s activities. New Trustees are invited to join on the basis of the value they add to the Board and to replace particular skills lost through retiring Trustees. They go through a formal induction programme, including observing Scientific Advisory Board meetings and visiting the charity’s research projects. The Breast Cancer Campaign Board of Trustees as of 30th June 2013, who served during the year, are listed below:
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Isla Smith (Chair) Christopher Finch (Hon Treasurer) Pascale Alvanitakis-Guely Dr Veronique Bouchet Professor Rob Coleman Dr Suzanne Eccles Hunada Nouss Laura Simons Jonathan Stead Professor Alastair Thompson Shoba Vazirani The Finance Committee meets four times a year to give due consideration to the charity’s finances, investments and risk. It consists of Trustees with a professional background and skills in business and finance. Management and employees Day-to-day management of the charity is delegated to the Chief Executive and SMT. As of 30th June 2013 these were: Chief Executive: Baroness Delyth Morgan Director of Communications: Fiona Hazell Director of Fundraising and Supporter Relations: Jen Dougan Director of Research: Dr Lisa Wilde / Dr Stuart Griffiths (Maternity Cover) Director of Resources: Karin Stafford The average number of staff during the year increased from 58 staff to 67. The Trustees work with the SMT on strategy development and annual operational business planning and budgets.
Advisory Boards and Committees Scientific Advisory Board (SAB) The SAB is responsible for making recommendations to the Trustees as to which research projects should be funded and plays a key role in creating the research strategy. Its members are required to be actively involved in breast cancer research and are drawn from various disciplines; all serve on advisory boards of one or more of the Medical Research Council, Cancer Research UK and other major cancer funding organisations. All research is independently reviewed by at least two and sometimes as many as six external reviewers before being presented for final review to the SAB. Details of the charity’s policies regarding the awarding and monitoring of grants are available from the research team and on the charity’s website. The maximum length of service on the SAB is five years (with the exception of a member who may go on to become Chair, or where expertise is very rare and therefore more challenging to replace), so members retire and new members are appointed each year. SAB members contribute their services voluntarily and we are indebted to them as well as the many hundreds of scientists and clinicians who review our grant applications. The thousands of hours that this takes is a voluntary service in the interests of beating breast cancer. SAB members who served during the year were:
Professor Gareth Evans (Chair) Dr Ingunn Holen (Deputy Chair) Professor Keith Brennan Professor Nicola Brown Dr Helen Bryant Professor Grace Callagy Dr Lodewijk Dekker Dr Gillian Farnie Dr James Flanagan Dr Claire Foster Professor William Gallagher Professor Paul Haggarty Dr Stephen Hiscox Professor Anthony Howell Dr Thomas Hughes Dr John Maher Dr John Marshall Dr Paul Mullan Professor Gillian Murphy Professor Sue Moss Professor Paul Pharoah Professor Graham Pockley Dr Emad Abd El-Aziz Rakha Dr Simon Robinson Carmel Shepherd Amanda Shewbridge Professor Peter Schmid Dr John Stingl Dr Robert Stein Dr Marc Tischkowitz Dr Michael Themis Professor Kaye Williams Breast Cancer Campaign Fellows sit on the SAB for one year as part of their fellowship. Dr Gillian Farnie and Dr James Flanagan sat on the SAB during the year.
31
The Tissue Bank Management Board (TBMB) The TBMB is responsible for overseeing the governance, strategy and operational delivery of the Breast Cancer Campaign Tissue Bank. It consists of:
Tissue Advisory Committee The Tissue Advisory Committee is responsible for ensuring the appropriate use of the material from the Breast Cancer Campaign Tissue Bank and reports to the TBMB. It consists of:
Professor Alastair Thompson (Chair) Professor Rosemary Walker Professor Barry Furr Professor Peter Barrett-Lee Professor Fraser Symmans Professor Wayne Phillips Professor Gareth Evans Dr Suzanne Eccles Margaret Wilcox April Matthews Christopher Finch Baroness Delyth Morgan
Professor Rosemary Walker (Chair) Professor Andy Hanby Professor Ian Hart Dr Colin Purdie Professor Ian Ellis Professor Stephen Duffy Dr Lee Baker Mairead Mackenzie Jacqui Gath Dr Adrienne Morgan Dr Jacqueline James Professor Adrian Harris Dr Nikoljas Zeps Professor Sunil Lakhani Professor Peter H Watson Dr Julia Gee Dr Elizabeth Mallon Professor Arnie Hill Dr Ingunn Holen Professor Diana Eccles Dr Adele Francis Dr Elinor Sawyer Dr Angela Cox Dr Robert Clarke Dr Graham Balls
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Collaborations At the core of Breast Cancer Campaign is a belief that only through collaboration can we find the cures for breast cancer. As a result, Breast Cancer Campaign is a member of a number of associations and groups, including:
Campaign’s Chief Executive, Baroness Delyth Morgan, serves as Vice-Chair of the All Party Parliamentary Group on Breast Cancer (APPGBC), is Vice-Chair of the All Party Parliamentary Group on Cancer and is a Board Member of the National Cancer Research Institute.
The Association of Medical Research Charities (AMRC), an umbrella organisation of the leading medical and health research charities in the UK. AMRC members aim to follow the highest standards of accountability in medical and health research funding, and membership of AMRC requires the use of independent peer review in the allocation of all grants and awards for research.
Breast Cancer Campaign is also an organisational member of the Institute of Fundraising, and complies with its codes of guidance and legislative and regulatory requirements as an active fundraising charity.
The National Cancer Research Institute (NCRI), which is a partnership between Government, charitable and private sectors that aims to develop a national strategy for cancer research and coordinate activities between member organisations. The NCRI is able to analyse all the information on cancer research provided by the member organisations, mapping out what the members are funding, and thus identify gaps and opportunities in cancer research, and facilitate collaboration between cancer research funding bodies.
Risk The Board and SMT reviews the risks it faces on a regular basis and as internal and external circumstances change. The assessment covers financial, reputational, operational, computer systems and other risks.
The charity also works closely with peers in other charities, including Breast Cancer Care, Breakthrough Breast Cancer, Macmillan Cancer Support, the Prostate Cancer Charity, Cancer Research UK and The Institute of Cancer Research.
33
Breast Cancer Campaign Trustees’ report (continued) For the year ended 30th June 2013
Statement of Trustees’ responsibilities The Trustees, who are also directors of Breast Cancer Campaign 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 the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that year. In preparing these financial statements, the Trustees are required to: • s elect suitable accounting policies and then apply them consistently • o bserve the methods and principles of the Charities SORP ake judgements and estimates that • m are reasonable and prudent • s tate whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements repare the financial statements on • p the going concern basis unless it is inappropriate to assume that the charitable company will continue on that basis
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Companies Act 2006, the Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006. The Trustees 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. As Trustees we also confirm that we have made all necessary enquiries and taken such steps that we ought to, to ensure that we become aware of any relevant audit information and that we confirm that the charitable company’s auditors have been made aware of such information. Auditors haysmacintyre has expressed its willingness to continue in office as auditors and a resolution proposing its re-appointment will be submitted at the appropriate trustee meeting. Approved by the Trustees on 4th December 2013 and signed on their behalf by:
Isla Smith, Chair of Trustees and signed on their behalf by:
Christopher Finch, Honorary Treasurer 34
Independent auditors’ report to the members of Breast Cancer Campaign For the year ended 30th June 2013
We have audited the financial statements of Breast Cancer Campaign for the year ended 30th June 2013 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Cashflow Statement and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). This 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 and to the charitable company’s trustees, as a body, in accordance with section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an Auditors’ 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 charitable company and its members, as a body, for our audit work, for this report, or for the opinion we have formed.
Respective responsibilities of Trustees and auditor As explained more fully in the Trustees’ Responsibilities Statement in the Trustees’ Report, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with regulations made under those Acts. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board’s [(APB’s)] Ethical Standards for Auditors.
35
Scope of the audit of the financial statements An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the group’s and the parent charitable company’s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the Trustees; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Trustees’ report to identify material inconsistencies with the audited financial statements. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.
36
Opinion on financial statements In our opinion the financial statements: • g ive a true and fair view of the state of the group’s and the parent charitable company’s affairs as at 30th June 2013 and of the group’s and the parent charitable company’s incoming resources and application of resources, including its income and expenditure, for the year then ended • h ave been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice • h ave been prepared in accordance with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended)
Independent auditors’ report to the members of Breast Cancer Campaign For the year ended 30th June 2013
Opinion on other matter prescribed by the Companies Act 2006 In our opinion the information given in the Trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements. Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion: • t he parent charitable company has not kept proper and adequate accounting records or returns adequate for our audit have not been received from branches not visited by us • t he parent charitable company’s financial statements are not in agreement with the accounting records or returns • c ertain disclosures of Trustees’ remuneration specified by law are not made e have not received all the information • w and explanations we require for our audit
Kathryn Burton (Senior Statutory Auditor) for and on behalf of haysmacintyre, Statutory Auditor 26 Red Lion Square, London, WC1R 4AG 4th December 2013 37
Breast Cancer Campaign Consolidated statement of financial activities For the year ended 30th June 2013
Unrestricted Restricted Total 2013 Total 2012 Notes funds £’000 funds £’000 £’000 £’000 Incoming resources Incoming resources from generated funds: Voluntary income Grants from restricted trusts Activities for generating funds Corporate partnerships Trading activity Fundraising events Investment income Incoming resources from charitable activities Total incoming resources Resources expended Cost of generating funds Trading activity Fundraising for voluntary income Fundraising for other generated funds Fundraising investment Total cost of generating funds
2
1,797 -
1,213 243
3,010 243
3,106 116
3c 3c 4 3c
1,332 3 3,402 627 3 7,164
1,995 28 3,479
3,327 3 3,430 627 3 10,643
3,450 6 3,639 264 3 10,584
6
10 1,323 1,844 422 3,599
58 58
10 1,381 1,844 422 3,657
16 1,048 1,734 2,798
2,709 303 (5) 460 183 1,090 4,740
93 8 22 976 408 1,507
2,802 311 (5) 482 1,159 1,498 6,247
2,854 436 1,239 426 (41) 1,398 6,312
6
278 8,617
1,565
278 10,182
129 9,239
8 8
(1,453) 2,925 90 35
1,914 (2,925) -
461 90 35
1,345 21 (101)
15
1,597 6,910 8,507
(1,011) 2,466 1,455
586 9,376 9,962
1,265 8,111 9,376
Charitable expenditure Research into breast cancer: Project grants PhD studentships Fellowships Pilot grants Tissue Bank Education and awareness Total charitable expenditure Other resources expended Governance costs Total resources expended Net incoming/(outgoing) resources for the year Transfers Unrealised gains on investments Realisation (loss)/gains on investments Net movement on funds Fund balances brought forward at 1 July 2012 Fund balances carried forward at 30 June 2013
The charity had no recognised gains and losses other than those included above. All the above results are derived from continuing activities. The surplus for the Companies Act purposes was £461k (2012: surplus £1,345k). The notes on pages 20-29 form part of these accounts.
38
Breast Cancer Campaign Company number: 05074725 Consolidated balance sheet At 30th June 2013
Notes Fixed assets Tangible assets Investments Current assets Stocks Debtors Cash in hand, bank, short term deposit and high interest accounts Creditors: amounts falling due within one year
£’000
7 8 9 10
11
Net current assets
2013 £’000
£’000
154 5,584
2012 £’000 181 4,407
6 782
9 488
18,188 18,976
19,186 19,683
(11,844)
(10,375) 7,132
9,308
Total assets less current liabilities
12,870
13,896
Creditors: amounts falling due in more than one year
(2,908)
(4,520)
9,962
9,376
8,507 1,455 9,962
6,910 2,466 9,376
Net assets Represented by: Unrestricted funds Restricted funds
15 15
The financial statements were approved and authorised for issue by the board on 4th December 2013 and signed on its behalf by:
Isla Smith Chair of Trustees
Christopher Finch Honorary Treasurer
39
Breast Cancer Campaign Charity balance sheet At 30th June 2013
Notes Fixed assets Tangible assets Investments Investment in trading company Current assets Stocks Debtors Cash in hand, bank, short term deposit and high interest accounts Creditors: amounts falling due within one year
7 8
9 10
11
Net current assets Total assets less current liabilities Creditors: amounts falling due in more than one year
12
Net assets Represented by: Unrestricted funds Restricted funds
£’000
15 15
2013 £’000
£’000
154 5,584 -
181 4,407 -
1,320
2,550
17,504 18,824
16,902 19,452
(11,693)
2012 £’000
(10,332) 7,131
9,120
12,869
13,708
(2,908)
(4,520)
9,961
9,188
8,505 1,456 9,961
6,910w 2,278 9,188
The financial statements were approved and authorised for issue by the board on 4th December 2013 and signed on its behalf by:
Isla Smith Chair of Trustees
Christopher Finch Honorary Treasurer
The notes on pages 38 - 48 form part of these accounts. 40
Breast Cancer Campaign Consolidated cash flow statement For the year ended 30th June 2013
2013 £’000 Net cash inflow from operating activities (a) Capital expenditure and financial investments Investment income Payment to acquire tangible fixed assets Payments to acquire investments
£’000 751
627 (59) (2,317)
Net decrease in cash for the year (b and c)
2012 £’000
£’000 2,259
264 (10) (714) (1,749) (998)
(460) 1,799
(a) Reconciliation of changes in resources to net inflow from operating activities Operating (deficit)/surplus Depreciation Investment income Investment realised Unrealised loss on investments Decrease/(Increase) in stock Decrease/(increase) in debtors Increase in creditors Net cash inflow from operating activities
2013 £’000 586 86 (627) 1,265 (125) 3 (294) (143) 751
2012 £’000 1,266 87 (264) 661 80 8 (164) 585 2,259
(b) Reconciliation of net cash flow to movement in net funds Increase in cash in the year Movement in net funds in the year Net funds at 30 June 2013
2013 £’000 (998) (998) 8,721
2012 £’000 1,799 1,799 9,720
Cash flow £’000 (998)
At 30 June 2013 £’000 18,188
(c) Analysis of funds Cash at bank and in hand
At 30 June 2012 £’000 19,186
The notes on pages 38 - 48 form part of these accounts. 41
Breast Cancer Campaign Notes to the financial statements For the year ended 30th June 2013
1. Accounting policies Basis of accounting The financial statements are prepared under the historical cost convention and in accordance with applicable accounting standards and the Statement of Recommended Practice (Accounting and Reporting by Charities) issued in March 2005 and the Companies Act 2006. Basis of consolidation Group accounts have been prepared for Breast Cancer Campaign and its wholly owned subsidiary BCC Trading Limited as well as Breast Cancer Scotland on the basis of common trustees and objectives. The accounts have been consolidated on a line by line basis. In accordance with Section 408 of the Companies Act 2006, no separate statement of financial activities is presented for the 12 months year ended 30th June 2013 as the charity’s result was the same as the group. Income of the charity (parent company) amounted to £10,307k. Net incoming resources after gains and losses in investments amounted to £10,532k. Restricted funds Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets this criterion is allocated to the fund. Unrestricted funds Unrestricted funds are donations and other income receivable or generated from the objects of the charity without further specified purpose and are available as general funds.
42
Depreciation Depreciation has been calculated so as to write off the cost in equal instalments at the following rates: • F ixtures and fittings – 15 per cent on cost p.a. • C omputer equipment – 25 per cent on cost p.a. • P remises improvements – Over the year of the lease Stock Stock is stated at the lower of cost and net realisable value. Investments Investments held as fixed assets are re-valued at mid-market value at the balance sheet date and the gain or loss taken to the statement of financial activities. Incoming resources Voluntary Income is included in the statement of financial activities when there is adequate certainty of receipt and value. Legacies are accounted for on a receivable basis. Donations, fundraising events and similar income are accounted gross when received. Income receivable under gift aid is included in the financial statements after including recoverable taxation. Corporate funding income is accounted for gross when it is receivable and is included in the statement of financial activities on an accruals basis. Income from investments is included in the statement of financial activities on an accruals basis.
Grant income is recognised when the granting organisation is committed to payment in the year to which the grant relates. Donated assets Donated assets are recognised in the financial statements at a fair market value at the date of receipt. Leasing Rentals payable under operating leases are charged against income on a straight line basis over the lease term. Resources expended Expenditure is included on an accruals basis, inclusive of any VAT that cannot be recovered. Costs of generating funds comprise those costs directly attributable to merchandise sales, fundraising and publicity events. Research into breast cancer, research project grants and PhD studentships consists of grants which are provided for when the charity is committed to payment together with an allocation of support costs. Education and awareness represent the direct costs incurred on activities to educate and inform stakeholders about breast cancer together with an allocation of support costs. Governance costs comprise direct costs for the statutory and governance expenditure of the group together with an allocation of support costs.
Support costs Support costs are allocated on the basis of staff time spent on direct charitable purposes, awareness campaigns, fundraising and publicity and governance costs. Pension costs Employees are entitled to join the pension scheme provided by Scottish Widows. This is a contributory defined contribution scheme, administered by an independent scheme administrator. Scheme funds are independent of the charity and invested with Scottish Widows. Payments to the pension scheme are a fixed percentage of salary for each employee. The cost of providing this pension scheme is charged to the statement of financial activities when it is incurred.
43
2. Voluntary income Unrestricted Funds £’000
Restricted Funds £’000
2013 £’000
2013 £’000
41 1,448 308 1,797
115 1,098 1,213
41 1,563 1,406 3,010
116 1,536 1,454 3,106
Corporate Community fundraising Legacies, major donors
3a. Group activities – BCC Trading Limited BCC Trading Limited is a wholly owned subsidiary trading company of the charity. Its principal activity is merchandise sales and other trading endeavours for the purpose of fundraising. The company Gift Aids its taxable profits to the parent company. The results of the trading company for the year ended 30th June 2013 were:
Turnover Cost of sales Gross profit Administration costs Interest receivable Profit for the year Gift Aid to Breast Cancer Campaign Profit for the year after Gift Aid
2013 £’000
2012 £’000
1,641 (333) 1,308 (3) 1 1,306 (1,306) -
2,171 (274) 1,897 (4) 1 1,894 (1,894) -
Administration costs relate to audit and other professional fees from Breast Cancer Campaign to BCC Trading Limited for the use of staff and resources. These costs have been eliminated on consolidation. Current assets Creditors Net assets
44
670 (670) -
2,222 (2,222) -
3b. Group activities – Breast Cancer Campaign Scotland Breast Cancer Campaign Scotland has been consolidated into these financial statements. Breast Cancer Campaign Scotland’s mission is to beat breast cancer by funding innovative world-class research to understand how breast cancer develops, leading to improved diagnosis, treatment, prevention and cure. The charity funds research at any centre of excellence in Scotland. The results of the charitable company for the year ended 30th June 2013 were: 2013 £’000
2012 £’000
2 2
3 3
Resources expended Charitable Activities Charitable expenditure Governance Costs Total Resources Expended Net incoming resources for the year
187 2 189 (187)
40 2 42 (39)
Net movement on funds Fund balances brought forward at 1 July 2012 Fund balances carried forward at 30 June 2013 Current assets Creditors Net assets
189 1 145 (144) 1
228 189 230 (41) 189
Incoming resources Incoming resources from generated funds: Activities for generating funds Donations Bank Interest Total Incoming Resources
3c. Trading and other income
Corporate partnerships Trading activities Investment income
Charity £’000
Breast Cancer Campaign Scotland £’000
Trading Company £’000
Total £’000
1,690 625 2,315
-
1,637 3 2 1,642
3,327 3 627 3,957
45
4. Fundraising events
Wear it pink Sporting events Other events
2013 £’000
2012 £’000
2,150 625 655 3,430
2,259 651 729 3,639
2013 £’000
2012 £’000
2,313 220 81 2,614
2,036 218 76 2,330
5. Employment information
Employee costs during the year were: Salaries Social security costs Pension contributions
There were two employees earning in excess of £60,000 a year. One falling in band £70,000-£79,999 and one falling in the band £90,000-£99,999. The employer’s pension contributions totalled £12.2k. In 2012 two employees were earning in excess of £60,000 a year. One falling in the band of £80,000-£89,999 and one in the band of £90,000-£99,999. The employer’s pension contributions totalled £8.2k. The average full time equivalent number of employees during the year was 67 (2012: 58).
Charitable activities Support Fundraising Governance
46
2013
2012
23 8 35 1 67
21 5 31 1 58
6. Resources expended
Cost of generating funds Trading activity Fundraising for voluntary income Fundraising for other generated funds Fundraising Investment Charitable expenditure Research into breast cancer: Project grants PhD studentships Fellowships Pilots Tissue Bank Education and awareness Governance costs
Support costs Cost of generating funds Trading activity Fundraising for voluntary income Fundraising for other generated funds Charitable expenditure Research into breast cancer: Project grants PhD studentships Fellowships Tissue Bank Pilots Education and awareness Governance costs
Direct Costs £’000
Grants £’000
Support Costs £’000
Total 2013 £’000
Total 2012 £’000
3 711
-
7 670
10 1,381
16 1,048
823 422
-
1,021 -
1,844 422
1,734 -
116 13 20 51 522 109 2,790
2,354 261 (4) 405 971 3,987
332 37 (1) 57 137 976 169 3,405
2,802 311 (5) 482 1,159 1,498 278 10,182
2,854 436 1,239 426 (41) 1,398 130 9,239
Office Costs Management £’000 £’000
2013 £’000
2012 £’000
IT Computer £’000 18
1 84
6 568
7 670
7 507
27
128
866
1,021
869
9 1 3 2 26 5 91
41 5 24 7 122 21 433
282 31 (1) 110 48 828 143 2,881
332 37 (1) 137 57 976 169 3,405
224 35 99 0 34 1,112 83 2,970
Support costs have been allocated in accordance with the accounting policy for support costs on page 39. The above expenditure includes the following charges: Audit fee: Audit Accounting and subsidiary audit fees Depreciation
2013 £’000
2012 £’000
9 4 86
8 4 87
47
7. Tangible fixed assets (group and charity) Premises Improvements £’000
Fixtures and Fittings £’000
Computer Equipment £’000
Total £’000
Cost At 30 June 2012 Additions Disposals At 30 June 2013
365 365
110 14 124
188 45 233
663 59 722
Depreciation At 30 June 2012 Charge for year Disposals At 30 June 2013
286 37 323
65 25 90
131 24 155
482 86 568
Net book value At 30 June 2013 At 30 June 2012
42 79
34 45
78 57
154 181
All the above assets were used for direct charitable purposes during the year.
8. Investments (group and charity) Shares at valuation As at 1 July 2012 Acquisitions Unrealised gain Realised gains Disposals As at 30 June 2013
2013 £’000
2012 £’000
4,407 2,317 35 90 (1,265) 5,584
4,432 716 (101) 21 (661) 4,407
The investments are held in managed funds. No single investment is considered material in the context of the investment portfolio. Subsidiary undertaking (charity only) The interest in the trading subsidiary, being a 100 per cent stake in BCC Trading Limited, a company incorporated in England and Wales, is shown in the balance sheet at cost. The subsidiary has a bank overdraft facility of £50k which is secured by the charity. The other subsidiary Breast Cancer Company Scotland has been consolidated due to common control.
48
9. Stock Group 2013 £’000
Charity 2012 £’000
2013 £’000
2012 £’000
6
9
-
-
Stock consists of unsold Christmas cards, T shirts, ribbons and badges
10. Debtors
Recoverable VAT Prepayments and accrued income Income receivable Outstanding season ticket loans Due from subsidiary undertaking: Gift Aid Other
Group 2013 £’000
Charity 2012 £’000
2013 £’000
2012 £’000
4 638 131 9
327 161 -
626 24 9
315 23 -
782
488
306 355 1,320
1,893 319 2,550
11. Creditors: amounts falling due within one year
Accruals Trade creditors Income received in advance Grants payable (see note 13) Other taxes and social security Intercompany transactions
2013 £’000
Group 2012 £’000
2013 £’000
Charity 2012 £’000
87 639 168 10,934 16 11,844
10 492 263 9,569 41 10,375
83 638 163 10,791 16 2 11,693
8 451 257 9,569 41 6 10,332
12. Creditors: amounts falling due after more than one year
Grants payable (see note 13)
Charity and group 2013 £’000
2012 £’000
2,908
4,520
Grants payable represent commitments made to fund research projects up to the year ending 30th June 2013. 49
13. Grants payable 2013 £’000 As at 30 June 2012 Awarded during the year Paid during the year Written back
14,089 3,557 (4,234) 430
As at 30 June 2013 Due within one year (see note 12) Due after one year(see note 13)
13,842 10,934 2,908 13,842
All grants were made to universities, hospitals, medical schools and other institutions furthering research into breast cancer. The Trustees’ report contains information on the number of grants awarded in the year.
14. Leasing commitments Breast Cancer Campaign is committed to make the following payments (per annum) under operating leases for the premises: Commitment expiring: Within two to five years After more than five years
2013 £’000
2012 £’000
158
158
The above commitment arises as a result of new leases which were signed on 28th August 2009.
50
15. Reconciliation of funds Group
General Designated Unrestricted Grants from trusts Tissue Bank Appeal Other restricted funds Breast Cancer Campaign Scotland
2012 £’000 6,910 6,910
Incoming Resources £’000 7,164 7,164
Realised/ Unrealised Losses £’000 125 125
Resources Expended £’000 (8,617) (8,617)
Transfers £’000 2,925 2,925
2013 £’000 8,507 8,507
2,277 -
243 1,090 2,146
-
(58) (1,195) (123)
(185) (717) (2,023)
1,455 -
189 2,466 9,376
3,479 10,643
125
(189) (1,565) (10,182)
(2,925) -
1,455 9,962
Realised/ Incoming Unrealised Resources Losses £’000 £’000 6,827 125 - - 6,827 125
Resources Expended £’000 (7,895) - (7,895)
Transfers £’000 2,538 - 2,538
2013 £’000 8,505 - 8,505
(58) (1,195) (510) (1,763) (9,658)
(185) (717) (1,636) (2,538) -
1,456 1,456 9,961
Charity
General Designated Unrestricted Grants from trusts Tissue Bank Appeal Other restricted funds
2012 £’000 6,910 6,910 2,278 - 2,278 9,188
243 1,090 2,146 3,479 10,306
- 125
Grants from trusts – donations from grant making trusts which are to fund specific research projects. The funds were fully utilised in previous years. The transfer of funds to unrestricted funds represents amounts raised to meet the costs of grant awards and related costs previously underwritten by the Trustees from unrestricted funds to ensure grants were made at the earliest opportunity to further charitable research. Tissue Bank Appeal – donations from sources other than trusts which are allocated to specific research projects. The transfer of funds to unrestricted funds represent those funds which were utilised but were previously allocated to unrestricted funds. Breast Cancer Campaign Scotland – the funds relates to donations which have to be utilised in Scotland.
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16. Analysis of net assets between funds Group Tangible assets Investments Current assets Current liabilities Creditors falling due in more than one year
Unrestricted Funds £’000 154 5,584 17,521 (11,844) (2,908) 8,507
Restricted Funds £’000 1,455 1,455
Total 2013 £’000 154 5,584 18,976 (11,844) (2,908) 9,962
17. Trustees’ expenses The trustees received no remuneration during the year. No trustees were reimbursed expenses in the year (2012: £Nil).
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Breast Cancer Campaign Legal and administrative details For the year ended 30th June 2013
Trustees and directors Pascale Alvanitakis-Guely Veronique Bouchet Professor Rob Coleman Dr Suzanne Eccles Mr Christopher Finch (Hon Treasurer) Ms Hunada Nouss Ms Laura Simons Ms Isla Smith (Chair) Mr Jonathan Stead Professor Alastair Thompson Ms Shoba Vazirani
Bankers Barclays 1 Churchill Place London E14 5HP Solicitors Bircham Dyson Bell 50 Broadway Westminster London SW1H 0BL
Company Secretary Christopher Beecham Chief Executive Delyth Morgan
VAT advisors Saffery Champness Lion House Red Lion Street London WC1R 4GB
Registered office and principal address Clifton Centre 110 Clifton Street London EC2A 4HT Tel: 020 7749 3700 Fax: 020 7749 3701 breastcancercampaign.org Auditors haysmacintyre 26 Red Lion Square London WC1R 4AG
Investment managers Coutts & Co 440 Strand London WC2R 0QS Registered Company No. 05074725 Registered Charity (England and Wales) No. 299758 Registered Charity (Scotland) No. SC039974
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Acknowledgements Thank you All members of our scientific advisory committees All of our grant holders and researchers
Paul Turner Pentel Philip King Charitable Trust
All patients who have donated their tissue to the Breast Cancer Campaign Tissue Bank
Pink Ribbon Ball Committee
All staff in our Tissue Bank centres
Pink Ribbon Tribute Fund Holders
All those who were involved in our review of gaps in breast cancer research
Reckitt Benckiser UK
Asda Stores Ltd
Rotary International in Great Britain and Ireland
Boobs & Brass
South West Snooker Academy
Debenhams
Travis Perkins Ltd
Dr H W Abbott Will Trust
University of Kent RAG
Generations Walk Committee
University of Warwick RAG
Gerard Varin
University of York RAG
Independent Cancer Patients’ Voice
Walk the Walk
Julie Hallam Loughborough Students’ RAG Nottingham Karnival Our 26 Regional Groups
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All our supporters who have donated to us and fundraised for us in 2012/13
Get involved We seek out the best research, bringing the brightest minds together and sharing knowledge to produce quicker results to overcome and outlive breast cancer. To make this happen we rely entirely on the big hearted support of those individuals and organisations across the UK and Ireland who care about breast cancer. But we need more support. If you’d like to join them and us in our campaign to overcome breast cancer, find out more at breastcancercampaign.org or call us on 020 7749 4114 or join us on Facebook and Twitter.
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Breast Cancer Campaign Clifton Centre 110 Clifton Street London EC2A 4HT 020 7749 4114 Download a copy of our annual reports and accounts at www.breastcancercampaign.org/annualreport Registered charity no. 299758
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