Notes to the Accounts (continued)


6a) Grant costs


Group 2011 £000


Grants provided in the year Decrease in provision for funding of life chairs and fellowships Finance charge on provision for life chairs and fellowships Discount on provision for training grants Write-back of underused grants and major adjustments


176,298 (719) 452 150


(11,598) 164,583


Group 2010 £000


159,020 (770) 824 411


(12,653) 146,832


6b) Grant commitments and creditors This table analyses the movement of grant commitments and creditors in the year and shows when they are expected to be paid out. Amounts due for payment in the year to 31 March


Total £000


Grant commitments (not included in the accounts) Balance at 1 April 2010


Movements in the year New grants


Awards recognised (transfer to creditors) Write-back of underused grants Adjustments


Balance at 31 March 2011 280,321 157,398


(176,181) (4,629) (2,778)


254,131


Grant creditors – research grants, life chairs and fellowships Balance at 1 April 2010


Movements in the year Awards recognised


Write-back of underused grants Grant costs


Grant payments Phasing adjustments Balance at 31 March 2011


Total grant commitments and creditors Balance at 1 April 2010


Balance at 31 March 2011


176,181 (11,598)


164,583


2011 £000


36,618 19,720


(50,647) (745)


(4,946) –


198,068 145,598


50,647 (4,688)


45,959


(175,889) (175,889) –


(15,668) 186,762


2012 £000


96,596 37,261


(86,272) (1,485) (8)


46,092 30,029 86,272 (884)


85,388 –


12,452 – 127,869


2013 £000


79,639 34,756


(23,869) (1,264) (2,478)


86,784 11,358 23,869 (550)


23,319 –


1,478 36,155


2014 £000


46,292 31,385


(12,772) (674)


3,905 68,136 3,969 12,772 (553)


12,219 –


1,287 17,475


2015 2016 onwards £000


£000 15,124


24,473 (1,966) (279) 96


37,448 1,400 1,966 (551)


1,415 –


396 3,211 6,052 9,803


(655) (182) 653


15,671 5,714 655


(4,372) (3,717)


– 55 2,052 478,389 182,216 126,625 90,997 50,261 16,524 11,766 440,893 – 173,961 122,939 85,611 40,659 17,723


Adjustments to commitments arise from variations such as changes in inflation assumptions, the non-renewal of grants, any additional commitments entered into and reclassification of prior year numbers.


Grant commitments for awards where more than five years of expected payments are provided at the outset have been discounted using a weighted average cost of capital of between 2.81% and 6.38% (2010: between 2.68% and 6.46%).


An analysis of grant-funded research by host institution with details of the grants awarded during the year, forming part of these audited financial statements, can be found on the Charity’s website at aboutus.cancerresearchuk.org/grants


34 / Annual Report and Accounts / Notes to the Accounts


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