Annual Report and Accounts 2010/11 - Cancer Research UK

Notes to the Accounts
(continued)
17. Investments in subsidiaries (continued)
The summarised financial information of the subsidiary undertakings that are material to the Group is provided below:
a) Trading subsidiaries – activities for generating funds
Cancer Research UK
Trading Ltd
2011 2010
£000 £000
Turnover 23,017 23,767
Cost of sales (22,058) (22,575)
Interest receivable 27 46
Net operating costs (69) (88)
Profit on ordinary activities before Gift Aid and taxation 917 1,150
Gift Aid payable to Cancer Research UK (925) (1,150)
Taxation 8 –
Retained profit for the year – –
Assets 6,275 7,145
Liabilities (6,275) (7,145)
Net assets – –
b) Trading subsidiaries – activities in furtherance of the Group’s objects
Cancer Research
Cancer Research
Technology Ltd
Technology Inc
2011 2010 2011 2010
£000 £000 £000 £000
Turnover 32,722 32,755 390 414
Cost of sales (30,622) (30,359) (341) (403)
Other income 32 104 – –
Interest payable (19) (19) – –
Interest receivable 64 67 – –
Profit on ordinary activities before Gift Aid and taxation 2,177 2,548 54 11
Gift Aid payable to Cancer Research UK (1,137) (1,563) – –
Taxation – – (10) (3)
Retained profit for the year 1,040 985 44 8
Assets 27,154 28,887 213 202
Liabilities (16,966) (19,739) (40) (33)
Net assets 10,118 9,148 173 169
Beatson Technology Limited is a wholly-owned subsidiary of the Beatson Institute for Cancer Research. The company was
established to undertake commercial developments arising as a by-product of the Institute’s medical research activities.
Currently, the company has negligible trading activities.
44 / Annual Report and Accounts / Notes to the Accounts