Share of net result

The Group’s one-quarter share of: Total income

Interest receivable

Profit on ordinary activities before Gift Aid and taxation Gift Aid payable Taxation

Retained (deficit) for the year

2011 £000

3,821 9

27

(27) –

–

As at 31 March 2010, related party balances with UKCMRI Construction Ltd comprised a loan of £6.4 million due to Cancer Research UK, and a £228,000 trading balance due from Cancer Research UK. The Group’s share of the capital commitments of UKCMRI Construction Ltd at 31 March 2010 amounted to £9.6 million. The Charity also seconded staff to UKCMRI Construction Ltd in 2010, for which it obtained reimbursement of £42,000. The numbers above have been derived from the unaudited draft accounts of UKCMRI Construction Ltd.

16. Programme-related investment in associates

a) UKCMRI Ltd Together with its three partners (the Medical Research Council, the Wellcome Trust and University College London), Cancer Research UK acquired an interest in UKCMRI Ltd on 1 February 2011. Cancer Research UK acquired 4,989,401 out of 19,000,004 issued ordinary shares. The Charity has the right to appoint one director and is able to exercise significant influence over the financial and operating policies of UKCMRI Ltd.

Share of net assets

2011 £000

The Group’s 26.2% share of: Fixed assets

Current assets Gross assets Creditors

Gross liabilities Share of net assets Share of net result

2011 £000

The Group’s 26.2% share of: Total incoming resources Total resources expended

Net outgoing resources Net movement in funds

–

(243) (243) (243)

As at 31 March 2011, related party balances with UKCMRI Ltd comprised a loan of £6.3 million due to Cancer Research UK, and a £386,000 trading balance due from Cancer Research UK. The Group’s share of the capital commitments of UKCMRI Ltd at 31 March 2011 amounted to £21.5 million. The Charity also seconded staff to UKCMRI Ltd, for which it obtained reimbursement of £46,000 in the year. The numbers above have been derived from the unaudited draft accounts of UKCMRI Ltd.

9,541 4,789

14,330 (9,725) (9,725) 4,605

2010 £000

2,004 2 1

(10) –

(9)

Annual Report and Accounts / Notes to the Accounts / 41