Annual Report and Accounts 2007/8 - Cancer Research UK

42Notes to the Accounts (continued)16. Acquisitions (continued)The excess of the fair value of the assets acquired over the value of the liabilities assumed amounted to £7,774,214, and isrecognised as negative goodwill in the balance sheet.The negative goodwill arising from the acquisition is being amortisedon a straight line basis over 10 years. For the year ended 31 March 2008 £647,833 has been released to the SOFA.The Beatson group, which is principally funded by the Charity, contributed £3.3 million of external funding to the Group’sincoming resources, £10.2 million to the Group’s resources expended and (£6.9) million to the Group’s net (outgoing)/incomingresources for the period between the date of acquisition and 31 March 2008. In this period revenue and capital grant fundingreceivable from the Charity amounted to £9.9 million.This is eliminated on consolidation.The net incoming resources of theInstitute were £248,046 for the period from 1 April 2007 to 13 June 2007 and £1,501,582 for the year to 31 March 2007.17. StockGroup Group Charity Charity2008 2007 2008 2007£000 £000 £000 £000Goods for resale 1,780 1,734 272 92Research and fundraising stores 218 522 218 5221,998 2,256 490 61418. DebtorsGroup Group Charity Charity2008 2007 2008 2007£000 £000 £000 £000Trade debtors 5,342 4,764 4,493 3,580Amounts due from Group undertakings - - 10,707 8,384Taxation recoverable 14,764 6,999 14,607 6,777Other debtors 4,321 2,070 4,338 2,124Prepayments 10,031 10,062 7,981 8,413Accrued income 11,659 9,724 4,696 4,17146,117 33,619 46,822 33,449Other debtors include balances of £1.6 million (2007: £1.2m) which are due after more than one year and £1.8 million inrelation to the Charity’s share of the deposit on the UKCMRI site purchase.The Charity has made a loan to its trading subsidiary company Cancer Research Technology Ltd (CRT) amounting to£1 million.The loan is secured on the assets of CRT, excluding intellectual property, and attracts interest at base rate plus1%.The amount outstanding is repayable in full on 31 March 2015 or on 13 calendar months notice from the Charity.19. Creditors: amounts falling due within one yearGroup Group Charity Charity2008 2007 2008 2007£000 £000 £000 £000Grants payable – research grants 150,271 130,932 154,045 130,547Life chairs and fellowships 2,973 2,277 2,694 2,105Trade creditors 16,207 13,373 12,186 11,368Amounts due to Group undertakings - - 2,551 6,300Tax and social security creditors 616 2,616 61 2,616Other creditors 1,650 501 1,661 467Accruals 24,449 25,639 16,930 19,400Deferred income 11,531 9,241 6,549 4,861207,697 184,579 196,677 177,664