Incoming resources (continued)
Activities for generating funds Retail income
Events registration and merchandise
Investment income Retail income is accounted for when the sale takes place.
Registration fees are recognised when the event takes place. Sales of merchandise are accounted for when the transaction occurs.
Investment income is accounted for on an accruals basis.
Incoming resources from charitable activities Research
Grant income is recognised when the Group is entitled to receipt.
Licence fees, royalties, assignment and option fees are recognised gross, before revenue share payments to third parties, on the basis that risks and rewards remain with the Group. Phased contractual receipts are recognised when they are due and on completion of the Group’s contractual obligations for the period.
Items of a scientific nature, such as donated drugs, are included at market value and an equivalent amount is included in ‘Costs of charitable activities’.
Cancer information and influencing
Other incoming resources
Recovery of VAT and related interest
Profit on sale of tangible fixed assets
These amounts have been accounted for when notified by HM Revenue and Customs.
Profit on sale of freehold properties has been recognised on exchange of a non-conditional contract.
Resources expended Expenditure is accounted for on an accruals basis, except in the case of research grants, which are accounted for when the Group formally notifies the recipient of the award (see ‘Grant costs’ in Note 6a). Allocations of support costs are based on the appropriate combination of staff time, department headcount, direct expenditure and activity levels. Irrecoverable VAT is included with the expense item to which it relates. Resources expended comprise:
Costs of generating funds
Costs of generating voluntary income
Costs of fundraising trading
These include salaries and directly attributable overheads, plus a proportion of central support costs.
Retail costs include the cost of goods sold and the direct costs of operating the shops, plus a proportion of central support costs. No value is ascribed to goods donated for sale.
Costs of charitable activities The presentation of charitable activities flows from the Charity’s vision and purpose. Research
This is the work that we carry out to fulfil our first and second purpose statements: ‘We carry out world-class research to improve our understanding of cancer and find out how to prevent, diagnose and treat different types of cancer’ and ‘We ensure that our findings are used to improve the lives of cancer patients’. It includes basic, translational and clinical research.
Cancer information and influencing
Governance costs
Cancer information involves the work to address our third purpose statement: ‘We help people to understand cancer, the progress we are making and the choices each person can make.’ Influencing reflects our activities to influence public policy which contribute to each of our purpose statements.
These are the central running costs of the Charity, including strategic oversight and public accountability.
Grant income is recognised when the Group is entitled to receipt.
Annual Report and Accounts / Notes to the Accounts / 29
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