Annual Report and Accounts 2007/8 - Cancer Research UK

More documents

Recommendations

Info

Chairman’s StatementThe year ended 31 March 2008 wasanother year of continued progressfor Cancer Research UK.Contents1 Chairman’s Statement2 Chief Executive’s Statement3 Trustees’ Report22 IndependentAuditors’ Report23 Consolidated Statement ofFinancial Activities24 Balance Sheets25 Consolidated Cash Flow Statement26 Notes to the Accounts54 Legal and Administrative Details60 How to find out moreOur total income of £477 million just exceeded the previousyear whilst our funds raised increased by 2% to a record£420 million. Another record was also set by spending£333 million on cancer research during the year.This is anexceptional outcome given that we were faced by the‘credit crunch’ in world financial markets from the secondquarter of our financial year. Encouraged though we areby these numbers, however, we are also realistic that thecurrent year will be very challenging with continuing turmoilin financial markets and pressures on the economy generallyin the United Kingdom and elsewhere.We continue to plan for the future and our strong balancesheet enables us to do so. In addition to working towardsachieving the ten goals we have set ourselves by 2020, it isour aspiration to be recognised as one of the leading cancerresearch organisations worldwide of which this countrycan be proud.New initiativesWith our long-term objectives in view, in the past yearwe have embarked on several new initiatives.We haveoverhauled our governance policies to bring themup-to-date with current best practice.This was the firstcomprehensive governance review since Cancer Research UKwas established over six years ago and it was carried outin consultation with the Charity Commission.We have entered into a partnership with the MedicalResearch Council, the Wellcome Trust and UniversityCollege London to develop a new UK Centre for MedicalResearch and Innovation (UKCMRI) on a site acquired fromthe Government, adjacent to the British Library and StPancras Station in London.We have signed a lease on anew building at the Angel in London into which we willconsolidate the eight office locations we currently haveacross London.This move will result in considerable costsavings and increased efficiency. Our new Cancer ResearchUK-MRC Gray Institute for Radiation Oncology & Biologyin partnership with the University of Oxford and the MedicalResearch Council has started its critically important work.All these initiatives have been undertaken with the objectiveof enabling our researchers to practise science of the highestquality, to be at the forefront of innovation and to achievea high level of success. Our grants are made after the mostrigorous assessment and against a background of backingboth proven winners and the next generation of youngerscientists with new and imaginative ideas.
International impact and influenceIn May 2007 Cancer Research UK scientists at ourCambridge Research Institute (CRI) concluded a majorinternational study by announcing that they had isolated fiveregions of the genome containing genes that can increasea woman’s risk of developing breast cancer. Led by CRIDirector, Professor Sir Bruce Ponder, this ground-breakingstudy brought together 15 research teams from around theworld.Their pioneering work has opened up new researchdirections by showing that it is possible to discover newgenes that can increase the risk of developing differentkinds of cancer by searching the whole genome.Thismilestone collaboration is just one of a series of genomewidestudies which Cancer Research UK is funding into theUK’s most common cancers such as lung, prostate, ovarianand bowel cancer. It reflects the growing impact we haveon raising the standards of cancer research worldwide.While we remain firmly rooted in the UK, we continue toplay an increasingly influential global role by facilitating keyappointments, encouraging the research community toshare information and fostering international partnerships.Meanwhile, our London Research Institute (LRI) had itsbest ever year for publications, with 19 publications ininternational journals achieving an impact factor of 20 ormore. Our plan to relocate the LRI to the UKCMRI is partof our long-term commitment to invest in the Institute’sinvaluable work.Awards of recognitionOn behalf of Council, I would like to congratulate ProfessorSir Alex Markham, our former Chief Executive and currentSenior Medical Advisor, and Professor Sir Bruce Ponder,CRI Director, who were awarded knighthoods in theQueen’s New Year Honours in recognition of their servicesto medicine.Our TrusteesAs announced in last year’s Annual Report, Professor SirDavid Carter and Dr Brendan O’Neill retired at the AnnualGeneral Meeting (AGM) in September 2007. BaronessCumberlege and Dr Carole Rawlinson also retired later inthe year and Professor Dame Nancy Rothwell retiredfollowing her appointment as Deputy President and DeputyVice Chancellor of the University of Manchester.They allremain Members and we thank them most sincerely fortheir commitment and their many contributions as Trustees.Following the AGM, Dr Melanie Lee was appointed DeputyChairman in succession to Sir David Carter and DameBridget Ogilvie was appointed Chair of the Council ResearchStrategy Committee, also in succession to Sir David.During the year, Professor Sir Kenneth Calman and SirJames Crosby were appointed as Trustees.We welcomethem both with their wide experience in different fields.Executive appointmentsLast year’s Annual Report referred to the prospectiveappointments of Professor Sir David Lane as Chief Scientistand Dr Lilian Clark as Executive Director of ScienceOperations and Funding. Both took up these appointmentsduring the year, and Professor Peter Johnson was appointedChief Clinician. All three have joined our Executive Board.Maxine Taylor, former Executive Director of Policy andCommunications, left the Charity for a senior appointmentin the commercial sector and we thank her for hercontribution over the past three years.On behalf of Council, may I again thank all our supporters,volunteers and employees for their energy, commitmentand enthusiasm which enabled us to achieve new recordsin fundraising and research.The financial year 2007/08 waschallenging but successful.Finally, I commend the Trustees’ Report to your attention,which elaborates on this Statement and gives you acomprehensive overview of our activities and achievementsover the past year, and some of our plans for the future.David NewbiggingChairman30 July 2008
Page 1: Annual Report andAccounts 2007/08Ma
Page 5 and 6: 3 Cancer Research UK Annual Report
Page 53 and 54:
51 Cancer Research UK Annual Report
Page 55 and 56:
Page 57 and 58:
Page 59 and 60:
Page 61 and 62:
Page 64:
Cancer Research UKRegistered addres
show all

Annual Report and Accounts 2007/8 - Cancer Research UK

Create successful ePaper yourself

Delete template?

Save as template?