The trustees of Cherry Lodge Cancer Care have again decided not to hold a public AGM at Howard House. This decision has been made to protect our clinically vulnerable members and is permissable under government guidance given to charities during the coronavirus epidemic.
In normal years, the Cherry Lodge AGM comprises the chairman’s welcome and presentation of the Annual Report for the preceding year, followed by a summary by our auditor, Andrew Geary, of the charity’s financial activities during that period. Both Margaret and Andrew normally answer questions from the audience.
To allow public scrutiny, we are following similar procedures to last year. Our 2021 Annual Report and Statement of Financial Activities (SOFA) were sent to the Charity Commission ahead of the deadline, and copies of these documents have been distributed to representative stakeholders. We are also posting the Annual Report and a Financial Summary on this website. If wished, questions can be raised and further information requested by emailing info@cherrylodgecancercare.org.uk. The auditor will attend the next Trustees Meeting, designated as our AGM, on 29th November 2022.
Cherry Lodge Cancer Care Annual Report 2021
Click here to access our 2021 Annual Report.
Financial Summary 2021
Click here to access a copy of the CL Summary Statement of Financial Activities for the Year Ended 31st December 2021. More detailed financial information is available on request.
Cherry Lodge Cancer Care’s audited accounts for the year ended 31st December 2021 were approved by the trustees and submitted to the Charity Commission ahead of the extended deadline.
Total income for the year increased from £234,595 to £286,944, largely due to some generous legacies received, an increase in income from fundraising events as the pandemic restrictions began to be relaxed, and higher income from our Barnet shop following two periods of lockdown. Government contributed £29,358 by way of furlough payments to staff who could not be utilised because of the pandemic restrictions.
Total expenditure for the year reduced from £350,807 to £318,954, a reflection of the lower use of both the Centre and the shop, in view, again, of the restrictions imposed by the pandemic.
After accounting for a gain of £23,171 in the value of CL’s investments, there was a net operating deficit for the year of £8,839 compared with £107,142 in 2020.
Accounting standards required the Trustees to restate the Union Street premises in the balance sheet at their estimated 31st December 2021 value of £1 million. This gave rise to a revaluation ‘gain’ of £430,508, which brought the reported overall result for the year to a surplus of £421,669.
At the end of 2021, Cherry Lodge had reserves of £2,003,907 compared to £1,582,239 at the end of 2020. Approximately half of these were represented by the Union Street premises. The balance of approximately £1 million was held in bank and cash deposits and readily realisable investments.