Annual Report and Accounts 2007/8 - Cancer Research UK
Annual Report and Accounts 2007/8 - Cancer Research UK Annual Report and Accounts 2007/8 - Cancer Research UK
20 Trustees’ ReportThe main features from the review are:• Our Council consists of the Trustees of CancerResearch UK, who are also Members and Directors ofthe charitable company.The number of Trustees will bereduced from 20 to 12 during 2008/09.• Trustees are elected by Members at their AGM for aninitial term of three years, renewable for up to twofurther terms.• The role of the Trustee and the role of the Chairmanhave been reviewed and updated.• The number of Council meetings will be increased fromfour to six each year.• The committees of Council have been reviewed and insome cases restructured.They now comprise AuditCommittee, Chairman’s Committee, Council ResearchStrategy Committee, Finance Committee, Nominationand Governance Committee, Remuneration Committee.The schedule of matters reserved to Council has beenrevised, and each Council committee has a clearstatement of its principal duties and powers.• The process for nominating new Trustees is overseen bythe recently formed Nomination and GovernanceCommittee who are assisted by independent searchconsultants and open advertising.The Committee willmeet at least twice a year.• The induction programme for new Trustees is tailoredto the individual’s skills and experience, and includessite visits and meetings with management.• Each Trustee will be formally appraised once in eachthree year term, and has regular access to theChairman and Chief Executive Officer.Trustees’ responsibilitiesThe Trustees are responsible for preparing the Trustees’Report and the financial statements in accordance withapplicable law and United Kingdom Accounting Standards(United Kingdom Generally Accepted Accounting Practice).Company law requires the Trustees to prepare financialstatements for each financial year, which give a true and fairview of the state of affairs of Cancer Research UK and theGroup, as well as the income and application of resources,including the income and expenditure, of the Group forthat period. In preparing these financial statements, theTrustees are required to:• select suitable accounting policies and then applythem consistently;• make judgements and estimates that are reasonableand prudent;• state whether applicable accounting standards have beenfollowed, subject to any material departures disclosedand explained in the financial statements;• prepare the financial statements on the going concernbasis unless it is inappropriate to presume thatCancer Research UK will continue in business.The Trustees continue to deploy a wide range of skills andexperience essential to good governance, as outlined onpages 55 to 58.
21 Cancer Research UK Annual Report and Accounts 2007/08The Trustees are responsible for keeping proper accountingrecords that disclose with reasonable accuracy the financialposition of Cancer Research UK and enable them to ensurethat the financial statements comply with the CompaniesAct 1985.They are also responsible for safeguarding theassets of Cancer Research UK and the Group, and hencefor taking reasonable steps for the prevention and detectionof fraud and other irregularities.Each person who is a Trustee at the date of approval ofthis report confirms that:• so far as the Trustee is aware, there is no relevantmaterial audit information of which Cancer Research UK’sauditors are unaware; and• each Trustee has taken all the steps that he/she ought tohave taken to make himself/herself aware of any relevantaudit information and to establish that the auditors areaware of that information.The Trustees are responsible for the maintenance andintegrity of the Cancer Research UK website; the workcarried out by the auditors does not involve considerationof these matters, and accordingly, the auditors accept noresponsibility for any changes that may have occurred tothe financial statements since they were initially presentedon the website. Legislation in the United Kingdomgoverning the preparation and dissemination of financialstatements may differ from legislation in other jurisdictions.The Legal and Administrative Details on pages 54 to 59form an integral part of this report.Public benefitWith effect from the financial year 2008/09, the Trusteeswill have a duty to report on ‘public benefit’ by explaining• the significant activities undertaken in order to carry outour aims for the public benefit, and• our achievements measured against those aims.In addition, the Trustees will be required to confirm thatthey have had regard to the Charity Commission’s guidanceon public benefit.Although not mandatory for this year, these explanationsare provided on pages 3 to 11 of this report.AuditorsA resolution for the reappointment ofPricewaterhouseCoopers LLP as auditors for CancerResearch UK will be proposed at the forthcomingAnnual General Meeting.On behalf of the TrusteesDavid NewbiggingChairman30 July 2008£420mwas raised by oursupporters this year
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20 Trustees’ <strong>Report</strong>The main features from the review are:• Our Council consists of the Trustees of <strong>Cancer</strong><strong>Research</strong> <strong>UK</strong>, who are also Members <strong>and</strong> Directors ofthe charitable company.The number of Trustees will bereduced from 20 to 12 during 2008/09.• Trustees are elected by Members at their AGM for aninitial term of three years, renewable for up to twofurther terms.• The role of the Trustee <strong>and</strong> the role of the Chairmanhave been reviewed <strong>and</strong> updated.• The number of Council meetings will be increased fromfour to six each year.• The committees of Council have been reviewed <strong>and</strong> insome cases restructured.They now comprise AuditCommittee, Chairman’s Committee, Council <strong>Research</strong>Strategy Committee, Finance Committee, Nomination<strong>and</strong> Governance Committee, Remuneration Committee.The schedule of matters reserved to Council has beenrevised, <strong>and</strong> each Council committee has a clearstatement of its principal duties <strong>and</strong> powers.• The process for nominating new Trustees is overseen bythe recently formed Nomination <strong>and</strong> GovernanceCommittee who are assisted by independent searchconsultants <strong>and</strong> open advertising.The Committee willmeet at least twice a year.• The induction programme for new Trustees is tailoredto the individual’s skills <strong>and</strong> experience, <strong>and</strong> includessite visits <strong>and</strong> meetings with management.• Each Trustee will be formally appraised once in eachthree year term, <strong>and</strong> has regular access to theChairman <strong>and</strong> Chief Executive Officer.Trustees’ responsibilitiesThe Trustees are responsible for preparing the Trustees’<strong>Report</strong> <strong>and</strong> the financial statements in accordance withapplicable law <strong>and</strong> United Kingdom Accounting St<strong>and</strong>ards(United Kingdom Generally Accepted Accounting Practice).Company law requires the Trustees to prepare financialstatements for each financial year, which give a true <strong>and</strong> fairview of the state of affairs of <strong>Cancer</strong> <strong>Research</strong> <strong>UK</strong> <strong>and</strong> theGroup, as well as the income <strong>and</strong> application of resources,including the income <strong>and</strong> expenditure, of the Group forthat period. In preparing these financial statements, theTrustees are required to:• select suitable accounting policies <strong>and</strong> then applythem consistently;• make judgements <strong>and</strong> estimates that are reasonable<strong>and</strong> prudent;• state whether applicable accounting st<strong>and</strong>ards have beenfollowed, subject to any material departures disclosed<strong>and</strong> explained in the financial statements;• prepare the financial statements on the going concernbasis unless it is inappropriate to presume that<strong>Cancer</strong> <strong>Research</strong> <strong>UK</strong> will continue in business.The Trustees continue to deploy a wide range of skills <strong>and</strong>experience essential to good governance, as outlined onpages 55 to 58.
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