Annual Report and Accounts 2007/8 - Cancer Research UK

40Notes to the Accounts (continued)15. Investments in subsidiaries (continued)b) Trading subsidiaries – activities in furtherance of the Group’s objectsCancer ResearchTechnology LtdCancer ResearchTechnology Inc2008 2007 2008 2007£000 £000 £000 £000Turnover 34,233 26,225 308 270Cost of sales (28,532) (23,182) (285) (259)Profit on sale of fixed assets 28 115 - -Interest payable (66) (58) - -Interest receivable 548 450 - -Profit on ordinary activities 6,211 3,550 23 11Gift Aid payable to Cancer Research UK (4,150) (2,460) - -Taxation - - - (2)Profit after taxation and retained profit for the year 2,061 1,090 23 9Assets 28,609 20,882 109 85Liabilities (21,937) (16,271) (77) (76)Net assets 6,672 4,611 32 9Beatson Technology Limited is a wholly owned subsidiary of the Beatson Institute for Cancer Research.The company wasestablished to undertake commercial developments arising as a by-product of the Institute’s medical research activities.Currently, the company has no trading activities.c) Charitable subsidiariesImperial Cancer The Cancer War onResearch Fund Research Campaign Cancer2008 2007 2008 2007 2008 2007£000 £000 £000 £000 £000 £000Incoming resourcesVoluntary income 46,263 41,863 38,985 35,829 61 320Investment income - - - - 123 172Total income 46,263 41,863 38,985 35,829 184 492Charitable expenditureGrant costs - - - - 38 (1,215)Governance costs - - - - - -Total resources expended - - - - 38 (1,215)Net (losses)/gains on investments - - - - (294) 264Net movement in funds 46,263* 41,863* 38,985* 35,829* (72) (459)Assets - - - - 2,149 3,727Liabilities - - - - (217) (1,723)Net assets -* -* -* -* 1,932 2,004*All amounts received in the year were transferred to the Charity.