Addenbrooke's Charitable Trust Report and Accounts 2011-2012

Annual Peport and
Plnanclal Statements
20ll/l2
ACT ls the worklng name for The |ncorporated Trustees of
Addenbrooke's Charltable Trust and other related charltles.
Peglstered charlty number: l048868
Contents
1 The Incorporated Trustees of Addenbrookes
Charitable Trust and Other Related Charities
2 Chairmans Statement
4 Report of the Trustees for the year ended 31 March 2012
8 Our impact how we are making a dierence for
patients

15 Committees and membership
17 Financial Review
19 Independent auditors report to the Trustees of
Addenbrookes Charitable Trust (ACT)
21 Annual Financial Statements - year ended 31 March
2012
22 Balance Sheet as at 31 March 2012
23 Consolidated cash ow statement for the year ended
31 March 2012
24 Notes to the Financial Statements
The Incorporated Trustees of
Addenbrookes Charitable Trust and
Other Related Charities
Principal Oce:
Box 126
Addenbrookes Hospital, Hills Road, Cambridge, CB2 0QQ
Tel: 01223 217757
Email : act@addenbrookes.nhs.uk
Website www.act4addenbrookes.org.uk
The charity is constituted by a Declaration of Trust and
registered with the Charity Commission for England and
Wales (1048868)
The trustees are appointed under section 51 of the NHS
Act 2006 and are incorporated under Part VII of the
Charities Act 1993
Trustees
Mr David Hardy Chairman of Trustees
Dr Mary Archer Deputy Chairman of Trustees and
Chairman of Addenbrookes
Abroad Committee
Mrs Christine Berry Chairman of Nominations Working
Group
Mr James Buxton Chairman of Rosie Campaign
Board
Mrs Belinda Chambers
Dr Peter Gough Chairman of Grants Committee
Mr Roger Guthrie Honorary Treasurer and Chairman
of Finance and General Purposes
Committee
Mr Jim Potter Chairman of Fundraising
Governance Committee
Mr David Robinson
Mr Keith Wade Chairman of Investment
Committee

1) to April 2012; 2) to 31 March 2012; 3) to 3 July 2012
Principal Ocers
Mr Keith Day Chief Executive
(until 27 September 2011)
Mr Stephen Davies Interim Chief Executive
(from 28 September 2011)
Mr Peter Dalton Director of Fundraising
(until 31 December 2011)
Mrs Susanne Owers Acting Director of Fundraising
(from 1 January 2012)
Mrs Julia Brown Director of Corporate Services
(from 3 July 2012)
Advisors
Barclays Bank (Benet Street, Cambridge and Chesterton
Road, Cambridge), banking services
Cambridge University Hospitals NHS Foundation Trust,
nancial management services
Hewitsons LLP (Shakespeare House, Newmarket Road,
Cambridge), legal advisors
Newton Investment Management Ltd (Mellon Financial
Centre, Queen Victoria Street, London), investment fund
management
PricewaterhouseCoopers LLP (Abacus House, Castle Park,
Cambridge), external audit services
Withers LLP, (16, Old Bailey, London), legal advisors
ACT Annual Report and Financial Statements 2011/12 | 1
Chalrman's Statement
| am dellghted to lntroduce the Annual Peport
20ll/l2 for Addenbrooke's Charltable Trust
(ACT). The year has been one of solld progress ln
our ma[or campalgns, especlally the campalgn
to expand the Posle Maternlty Hospltal whlch
had secured over 3m ln pledges agalnst a
target of 5m by the year end. |t was also a year
of reappralsal, whlch now seems llkely to have
served as a prelude to strateglc re-posltlonlng.
The fall ln our total lncome from 9m ln 20l0/ll to
[ust under 7m ln 20ll/l2 was dlsappolntlng at a tlme
when our expectatlons were of an upward tra[ectory
glven the lnvestment that has been made ln fundralslng
capaclty. However, some 780,000 of thls was due to a
fall ln legacy lncome, whlch ls always an unpredlctable
element. |ncome through our MP| collaboratlon wlth
the hospltal also fell, because of lncreased competltlon
for scannlng servlces ln the local health economy. On a
more encouraglng note, our lncome from donatlons rose
by [ust under 200,000. we attrlbute thls to the success
of our ma[or donor club and expect our lnvestment ln
addltlonal communlty fundralslng stan ln 20l2 to further
lncrease glvlng.
Lxpendlture on charltable purposes also lncreased from
5.2 to 5.6m, although around 0.75m of thls lncrease
ls an artefact of more rlgorous appllcatlon of accountlng
pollcles. The trustees would llke to see more expendlture
from restrlcted purpose funds and are worklng wlth
the hospltal to achleve thls. Substantlally lncreased
expendlture ln 20l2/3 would be a slgn of success ln thls
respect as well as lndlcatlng lmproved good performance
ln fundralslng.
|n September 20ll our long-standlng Chlef Lxecutlve,
Kelth Day, retlred and early ln 20l2 our Dlrector of
Pundralslng, Peter Dalton, left ACT to return to hls home
country. The trustees have been, slnce summer 20ll,
explorlng the posslblllty of a new charlty to be formed
under the umbrella of Cambrldge Unlverslty Health
Partners - the vehlcle for the Academlc Health Sclence
Centre collaboratlon ln Cambrldge. |n vlew of these
exploratlons, lnterlm appolntments have been made
to these leadershlp posltlons. Por the same reason, one
trustee posltlon has been left vacant slnce Mrs 8ellnda
Chambers' term came to an end ln March 20l2. At the
tlme of wrltlng, thls proposal ls stlll under conslderatlon
but has not yet come to frultlon and so lnterlm
arrangements are stlll ln place. The trustees recognlse
that thls sltuatlon cannot be sustalned lndenltely and
wlll re-conslder thelr posltlon early ln 20l3. | am grateful
to our |nterlm Chlef Lxecutlve, Stephen Davles, and
Actlng Dlrector of Pundralslng, Susanne Owers, for thelr
forbearance ln a sltuatlon that has lasted for longer than
we antlclpated.
Also durlng the year lt became clear that our strategy
of focuslng on capltal developments, under the banner
of the 2020 vlslon Campalgn, was looklng lncreaslngly
problematlcal. |n part, thls ls due to the lnherent dlmculty
ln fundralslng for bulldlngs. 8eyond thls, lt became clear
durlng the year that the Poundatlon Trust was unllkely to
move ahead wlth any further ma[or bulldlng pro[ects ln
the near-term, because of constralnts on lts borrowlng
capaclty. |n thls context, the progress made wlth the
Posle and Deakln Centre Campalgns was commendable.
Golng forwards, however, ACT must reassess lts portfollo
of causes for fundralslng. work undertaken ln the rst half
of thls calendar year to ldentlfy prlorlty themes, shared
wlth the Unlverslty of Cambrldge, wlll asslst wlth thls
exerclse.
Plnally, on the behalf of ACT's trustees | would llke to
express our slncere thanks to Mrs 8ellnda Chambers, Mr
Kelth Day and Mr Peter Dalton for thelr contrlbutlons to
the governance and leadershlp of ACT.

Please do read on to nd out more about ACT's work and
how lt has made a dlnerence for patlents.
Davld Hardy
2 | "$5 Annual Peport and Plnanclal Statements 20ll/l2
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Report of the Trustees for the year
ended 31 March 2012
Our goals
The objects of Addenbrookes Charitable Trust are for
any charitable purpose relating to Cambridge University
Hospitals NHS Foundation Trust (CUH) and the National
Health Service. In line with all NHS Charities, ACTs objects
require it to spend charitable funds for the benet of
patients and not for the benet of its linked hospitals.
ACTs policy is to make grants and approve spending for
purposes that are over and above what the NHS would
normally provide. ACT is careful to avoid making grants
for purposes that should be covered by core NHS funding.

Through our activities, we help to ensure that the
communities served by CUH are provided with
innovative, high quality and safe healthcare and so
contribute towards improving the experience of patients
and their families, along with the sta who support them.
As independent trustees, we ensure that funds given for
charitable purposes relating to the NHS are safeguarded
and used only in the way intended by donors.
CUH is one of the largest and best known trusts in the
country. The local hospital for its community delivering
care through its hospitals Addenbrookes and the Rosie;
CUH is also a leading national centre for specialist
treatment, a government-designated comprehensive
biomedical research centre and a partner in one of only
ve government-designated academic health science
centres in the UK. Building on these dierent elements,
CUHs vision is to be one of the best academic healthcare
organisations in the world.
CUH priorities focus on a quality service which is all about
people patients, sta and partners. Its values kind,
safe and excellent are at the heart of patient care,
dening the way the NHS Foundation Trust works and
behaves. Through fundraising and the strategic allocation
of funding we are able to assist the hospital in achieving
these goals.
Our structure, governance and
management
Legal status
The charity is constituted by a Declaration of Trust, last
amended on 1 February 2007, and registered with the
Charity Commission in England and Wales (1048868). The
trustees are appointed under section 51 of the NHS Act
2006 and are incorporated under Part VII of the Charities
Act 1993.
Governance and management
The trustees are collectively responsible for the overall
governance and operations of the charity and for
ensuring that the charity acts in a way that is consistent
with its objects and results in public benet.
The trustees are appointed to hold the charitable funds
on behalf of CUH and can apply these funds for any
purposes of the Foundation Trust or the wider NHS.
The trustees are responsible for the administration of
the charity and for ensuring that assets are properly
managed, controlled and safeguarded in accordance with
NHS and charity law.
The charity is constituted with up to ten trustees, who are
appointed on behalf of the Secretary of State for Health
by the Appointments Commission. A full complement of
ten trustees served throughout the year, although one
trustee stood down on 31 March 2012 having reached
the end of her term of appointment. The appointments
process is designed to ensure fairness and openness and
ensure a trustee body that has the mix of experience,
skills, knowledge and competencies required. All
vacancies are advertised and selection is made against
a person specication agreed with the Appointments
Commission. Trustees are appointed for four year terms
in the rst instance, renewable up to ten years subject
to satisfactory performance. The Nominations Working
Group meets on an ad hoc basis to consider questions
of trustee and executive leadership appointments and
succession planning.
The trustees are volunteers and do not receive any
remuneration for their services, but may claim reasonable
expenses incurred in connection with their attendance at
meetings or other duties. Trustees are required to disclose
all relevant interests and withdraw from any decisions
where a conict of interest arises. The trustees meet
formally four times a year but also meet less formally
from time to time for strategic planning and other
developmental activities.
Individual trustees are subject to an appraisal system
based on one to one meetings with the Chairman. The
Chairman is appraised by the Deputy Chairman on the
basis of a survey of trustee views. The performance of the
Chief Executive and other executive sta is overseen by
the trustees and the Chief Executive and Chairman meet
regularly to review the scheduling and management
of company business, governance eectiveness and
strategic issues.
The Chief Executive is charged with continuing a
constant review and update of governance of the charity
in line with legislative and regulatory requirements
and following best practice within the sector. A full
governance review and board eectiveness review was
last undertaken in 2010.
4 | ACT Annual Report and Financial Statements 2011/12
The trustees conrm that they have complied with the
duty of the Charities Act 2011 to have due regard to the
Charity Commissions general guidance on public benet,
Charities and Public Benet. The trustees are condent
that the variety and extent of ACTs work ensures that
the charity provides public benet within the meaning of
the law. Our activities make a dierence for the extensive
community served by CUH, as evidenced in this report.
Trustee committees
The trustees delegate responsibility for more detailed
consideration of the charitys aairs to ve committees,
each including three places for trustee members, chaired
by a trustee and reporting to the Board of Trustees.
The Finance and General Purposes Committee:
oversees and provides advice on audit, administration,
nance and governance.
The Fundraising Governance Committee: oversees and
advises at a strategic level upon fundraising activities,
including ethical policy.
The Grants Committee: reviews and decides upon
applications for grants.
The Investment Committee: advises on the charitys
investment policy and oversees investment
management.
The Addenbrookes Abroad Committee: maintains
oversight of this programme and advises on strategy
and delivery.
A review of the terms of reference for the Fundraising
Governance Committee was completed in May 2012.
The new terms make more explicit the committees
role in ethical oversight and also clarify its advisory
role in relation to fundraising strategy. The review
also conrmed that routine monitoring of fundraising
performance against budgets is the role of the Finance
and General Purposes Committee.
A review of the terms of reference for the Addenbrookes
Abroad Committee was completed in June 2012. This
claried the delegated authority of the committee and
those matters reserved for trustees.
Volunteers
The charitys achievements are heavily reliant on the
support of our volunteers, many of whom have supported
our work in fundraising for the hospital over many years.
Volunteers provide this support in various ways.
As members of campaign committees, providing
voluntary leadership for engagement with potential
donors and guidance on campaign strategy and
conduct. During 2011/12 we received valued
assistance in this way through the 2020 Vision
Campaign Board and the Rosie Campaign Board.
As members of the Friends of Addenbrookes, a
voluntary membership organisation that undertakes
its own community fundraising under the legal
umbrella of ACT. We are very grateful for the energy
and commitment of the Friends, who have provided
support over many years.
As organisers of or participants in community
fundraising events, such as challenge events or
sponsored activities. We are constantly surprised and
humbled by the enthusiasm and imagination that is
brought to bear by voluntary fundraisers, including
sta members, who wish to support the work of the
hospital.
As expert advisors, for example as advisors to the
Addenbrookes Abroad, Grants and Investment
Committees, who give up their time to provide ACT
trustees with specialist advice.
Fund administration
The trustees are responsible for over 300 restricted
purpose funds, where donors have given money to
be held on trust for a specic purpose, for example for
the benet of a particular ward, department or eld
of research. Authority for expenditure against these
funds is delegated to fund advisors, who are generally
senior clinical sta with specialist knowledge of the
purposes supported by the fund. There are a minimum
of two fund advisors for each fund. Advisors can commit
expenditure for charitable purposes up to 5,000. Above
this limit, approval by the Chief Executive is also required
and for expenditure over 10,000 a decision is taken
by the Grants Committee. The trustees consider that
consultation with and delegation to fund advisors in this
way also encourages the involvement of hospital sta in
fundraising.
Grant-making
The Grants Committee advises the trustees in setting their
grant-making strategy and priorities. Charitable funding is
not used for routine refurbishment or to meet statutory NHS
requirements unless it can be shown that there is substantial
benet, such as accelerating advances in medical care or
increasing the quality of service provision over and above
that possible through NHS funding alone. Employment
costs are not normally supported for longer than one year
and grants are only made where there is assurance that
there are arrangements to meet possible longer-term costs
including implications of employment rights.
Projects are only approved where there is a clear
commitment from the NHS Foundation Trust to meet
any associated costs, including revenue consequences.
Equipment purchases from charitable funds are also
subject to prior review by the CUH Medical Equipment
Committee so as to ensure that equipment purchased
from charitable funds is fully compatible and otherwise
suitable. During 2011/12, ACT agreed new procedures
with CUH to ensure that these policies are always
followed in practice.
For expenditure from general funds, all commitments
over 1,000 must be approved by the Grants Committee.
During the year the trustees allocated 150,000 (previous
year 150,000) for expenditure on research for which
no restricted purpose fund is available. The Research
Advisory Committee of CUH makes recommendations
to the Grants Committee on applications against the
allocation for research, as well as advising on proposals
to fund research projects from restricted purpose funds.
This committee also awards ACT and The Evelyn Trust
Research Fellowships.
The trustees also allocated 150,000 from general
funds (previous year 150,000) for general hospital
needs for which no restricted purpose fund is available.
Bids against this allocation are considered by the
Professional Advisory Committee (PAC), which includes
clinical and management sta from CUH. PAC makes
recommendations to the Grants Committee on the award
of funding. An outcomes report is required within 12
months of any grant being awarded.
Examples of projects funded through these various
routes are given in the section on public benet.
Fundraising governance
The Fundraising Governance Committee maintains
oversight of governance and ethical aspects of
fundraising and provides advice to the full trustee
body and to management in order to support good
governance and eective performance of the fundraising
task.
Fundraising is delivered through a Total Development
Programme (TDP). The TDP covers budget, project
and investment programmes to full a broad range
of fundraising activity in order to acquire a signicant
number of new donors and retain current donors. By
converting these new donors to higher level giving over
time, we will ensure maximum benet for CUH patients.
ACT is registered with the Fundraising Standards Board
(FRSB) self-regulatory scheme. As a member of the
scheme, ACT is committed to the highest standards of
practice and ensures that all activities are open, fair,
honest and legal. As membership of the FRSB increases,
displaying the FRSB tick logo enhances the credibility of
the charity.
Risk management
The risks to which the charity is exposed as identied by
the trustees were reviewed in November 2011 using the
NHS Foundation Trusts Risk Assessment Tool. Six risks
were identied as high and moderate and controls put
in place to manage those risks. During 2012, a bottom-
up process of operational risk assessment, involving
charity sta, has been introduced to strengthen the risk
assessment process; give trustees greater visibility of
operational risks and encourage wider ownership of risk
management. This process has identied eight red risks
in the following areas:
Data quality
Data protection
Governance
Physical security
Continuity in senior management
Actions have already been taken to reduce many of these
risks. A Data Protection Ocer has been appointed and
sta trained in data protection issues. A new form of
employment contract and an Employee Handbook have
been introduced from July 2012. A strategy to improve
oce accommodation is in place, with a new oce
for half of the sta being occupied in November 2012.
However, more work is required in these and other areas
to reduce operational risk. Data quality and systems
strategy will be a major focus going forwards.
Investment policy
All funds are invested in one of two investment pools: the
short-term pool and the long-term pool.
The short-term pool is invested entirely in interest-
bearing accounts and deposits made by ocers of
the charity. These investments are highly liquid and
are not exposed to signicant risk of loss of capital.
The short-term pool is intended primarily for funds
that expect to spend a signicant proportion of their
money within the next 12 months. Deposit-takers
must achieve a minimum credit rating (Moodys P-1 or
equivalent) and our policy places a limit of 2 million
on deposits with any one institution.
The long-term pool is invested in residential property
and a managed portfolio of securities. This pool is
intended for funds that expect to hold money over
the longer term. The managed portfolio is operated by
Newton Investment Management Ltd in accordance
with an agreed investment policy. This policy requires
a reasonable long-term return at moderate risk; and
includes a provision not to make direct investments in
tobacco companies.
The committee meets twice a year and reviews policy
and performance. Performance against benchmarking
is indicated by the investment managers in their report
to each meeting of the Investment Committee. The
Committee includes both trustees and external expert
advisors for whose voluntary contribution the trustees
are extremely grateful.
Reserves policy
The charity has substantial cash reserves because of
the proportion of funds invested in the short term pool.
However, unrestricted funds at the year-end amounted
to 2.79m, or 11% of total fund balances. However, this
includes funds designated for MRI-related purposes and
the trustees regard the general fund as the eective
reserves available to the charity. The balance on this fund
was 1.37m at the 31 March 2012. This represents around
12 months operating expenditure, which the trustees feel
is reasonable. However, there are regular commitments
against the general fund of 400,000 a year for the grant-
making committees and support of the Arts and Archive
programmes. Although discretionary, the trustees would
be extremely reluctant to reduce or curtail these forms
of support to the hospital. In order to increase grant-
making committee allocations and support other ways
of pursuing our objects we continue to explore ways of
increasing our unrestricted funds, with a medium-term
goal of increasing these to around 4m.
Our strategy
ACTs strategic plan is adopted on a rolling basis, and is
reviewed each year. The plan comprises: vision statement,
mission, strategic aims, business objectives, key activities
and action plans and values.
Vision statement
To support and promote the work of CUH in their aim to
be one of the best academic healthcare organisations in
the world, for the benet of patients.
Mission
ACTs mission is to:
raise funds, including those for priorities critical to
CUH purpose and aspirations, above and beyond
those normally provided by the NHS.
help to ensure that the local, national and
international communities served by CUH are
provided with leading edge, innovative, high quality
and safe healthcare.
help improve the experience of patients and their
families, along with the sta who support them.
support Cambridge as an Academic Health Science
Centre, with CUH at the heart of world class research,
teaching and patient care.
ACT will do this by:
fundraising in partnership with the hospitals.
managing the charitable funds in an eective way
and endeavouring to ensure a sustained and regular
income.
awarding grants.
Strategic aims
to increase substantially the income raised by the
charity through an ongoing total development
fundraising programme, to provide budget, project
and investment funding and to build an endowment
of substance (principally through legacy giving).
to develop ACTs recognition nationally and as a pre-
eminent charity for the local community.
to raise funds eectively, eciently, ethically and
economically in line with best fundraising practice
benchmarks.
to engage and build strong relationships with
Cambridge University Health Partners (CUHP), CUH, its
patients and sta, and other stakeholders of ACT.
to invest and disburse money in accordance with the
charitys objectives and ensure that funds are used for
the purposes for which they are raised or donated.
to manage and govern ACT eectively in line with best
practice, and to build a motivated team and culture
such that ACT is respected and seen as an exemplar in
charity management.
to develop joint activity with Cambridge University
Health Partners (CUHP) and alignment with strategic
plan/aims of partners.
to promote and support the work and prole of
Addenbrookes Abroad, to be developed through the
implementation of its strategic plan in conjunction
with the Addenbrookes Abroad Committee.
Business objectives
Business objectives are linked to each strategic aim with
attendant success measures. Key activities and action
plans have been dened to achieve delivery milestones
and responsibility for action has been allocated either to
one of the charitys ve committees or a senior ocer.
The Finance and General Purposes Committee monitor
the detailed implementation of the strategy.
Our lmpact - how we are maklng a
dlnerence for patlents
we work hard to full our vlslon to support
and promote the work of CUH ln thelr alm
to be among the best academlc healthcare
organlsatlons ln the world.
Our trustees conslder every appllcatlon for funds
carefully, ln partnershlp wlth cllnlcal, nanclal and
managerlal experts from the hospltals, to ensure that
funds best benet patlents and do not constltute NHS
core buslness.
The followlng pro[ects lllustrate the range and lmpact of
charltable actlvltles funded by ACT and our supporters.
eneting patients through improved faciIities and
equipment
|n 20ll/l2 ACT's Grants Commlttee approved 884,264
ln grants and the appllcatlon of restrlcted funds for
pro[ects across the hospltals.
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Our long-standlng collaboratlon wlth the hospltal to
provlde Magnetlc Pesonance |maglng (MP|) facllltles
and equlpment contlnued ln the year. MP| ls a key tool
ln the dlagnosls of dlsease and the hospltal has been
fortunate to have the use of machlnes funded by ACT
and our predecessor charltles slnce l997. The alm of the
collaboratlon ls to provlde a servlce above and beyond
normal NHS provlslon, and ln support of research and
development throughout the hospltals.
As technology advances, our contlnulng support ls
essentlal to malntaln the portfollo of MP| equlpment so
that patlents and research stan have access to cuttlng-
edge technology. |n 20ll/l2, ACT completed a 2mllllon
replacement and upgrade programme for two of the MP|
machlnes.
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Advanced lmaglng ls absolutely vltal ln the dlagnosls
of dlsease. As the ma[or provlder for these servlces ln
the Cambrldge area, the MP| Unlt at Addenbrooke's
provldes an essentlal servlce for patlents. The hlgh-
eld (3T) scanner has enabled lmportant cllnlcal
and research roles to be created across a wlde
range of medlcal dlsclpllnes, ln con[unctlon wlth
GlaxoSmlthKllne and Cancer Pesearch UK, not only
enhanclng patlent care today, but playlng a role ln
benetlng patlents tomorrow.
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20ll/l2 ls the fourth year ACT has supported runnlng
costs of Acorn House, The Slck Chlldren's Trust's 'home
from home' for slck chlldren and thelr famllles based on
our slte. The avallablllty of Acorn House on slte prevents
very slck chlldren from belng separated from the love and
support of thelr famllles whlle they recelve vltal medlcal
treatment ln hospltal. Prom l September 20ll to 3l
March 20l2, Acorn House provlded accommodatlon for
220 famllles.
Keeplng famllles together at a tlme of serlous lllness
can contrlbute enormously to the recovery and general
wellbelng of chlldren undergolng treatment and care.
8y supportlng Acorn House, we are enabllng chlldren
to spend tlme away from the ward envlronment, have
home cooked meals and feel comforted that thelr
parents are nearby. |t also prevents slbllngs belng
excluded from famlly llfe and provldes the opportunlty
for everyone to spend preclous tlme together when a
chlld ls termlnally lll.
"Many famllles have told us that they
don't know how they would have
coped wlthout Acorn House.
+BOF'FBUIFSTUPOF, Head of Pundralslng,
The Slck Chlldren's Trust
4,
, 4
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ACT awarded 40,978 from our general fund to buy a
speclmen x-ray machlne for the Cambrldge 8reast Unlt
at Addenbrooke's Hospltal. The machlne slts alongslde
the operatlng table so surgeons can analyse tlssue
samples removed from patlents durlng thelr operatlons.
wlth the ablllty to check speclmens on the spot,
rather than waltlng several hours, surgeons can more
accurately remove cancerous tlssue. They can also spot
any unexpected abnormalltles and assess how best to
address them durlng the procedure - reduclng the need
for follow up surgery.
Analyslng tlssue samples durlng an operatlon
lowers patlent rlsk as less anaesthetlc needs to be
admlnlstered, and recovery tlme can be faster. |t also
helps to speed up operatlng schedules, meanlng more
women can be treated and more llves can be saved.
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The Prlends of Addenbrooke's provlded 9,l60 to roll
out a programme to lmprove the envlronment on
Addenbrooke's wards that have a hlgh proportlon of
elderly patlents. The fundlng has enabled the hospltal's
dementla and dellrlum team to purchase, among other
ltems, actlvlty boxes to provlde lntellectual stlmulatlon
and bulld self-esteem, generatlon-speclc art work to
dlstract and engage patlents and red tollet seats to
help patlents nd the tollet and feel more lndependent.
Thls programme extends a successful trlal of these
enhancements on ward G6.
|t ls estlmated that up to 440 of the l,000 beds at
Addenbrooke's are occupled at any one tlme by
patlents wlth dementla or dellrlum. A stay ln hospltal
can be a frlghtenlng experlence for people who
are easlly dlsorlentated, and thls grant wlll benet
thousands of patlents each year, fosterlng thelr
lndependence, helplng them to famlllarlse themselves
wlth strange surroundlngs and soclallse wlth others.
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Three shower trolleys have been bought for patlents, wlth
a grant of l6,200 from our general fund. Shower trolleys
are deslgned to allow patlents who are not able to slt ln a
chalr the opportunlty to en[oy a shower and halr wash.
Patlents wlth partlcular dlsabllltles, those wlth poor
strength ln thelr core muscles and people who can't slt
up, can now benet from havlng a full and refreshlng
wash, whlch helps support thelr comfort, dlgnlty and
safety.
"|'m so pleased that we now have
these shower trolleys ln place. Thank
you to ACT for thls grant. |t really does
make a dlnerence for our patlents.
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The Neonatal |ntenslve Care Unlt spent l2,000 from
lts restrlcted fund to purchase a dedlcated Cerebral
Punctlon Monltor (CPM), whlch provldes safe coollng
treatment for bables. Coollng can slgnlcantly reduce
long-term developmental problems of a premature baby
or full-term baby starved of oxygen at blrth. |t ls essentlal
that bables recelvlng coollng treatment are monltored
contlnually to assess overall braln functlon and also to
ldentlfy whether they are havlng selzures. A CPM ls a
speclallsed slngle channel LLG system whlch provldes an
overall measurement of electrlcal actlvlty ln the braln.
The CPM ls a very user-frlendly monltor, and stan have
found lt easy to master. The monltor can be put on
bables qulckly, leavlng doctors and nurses more tlme to
concentrate on the management of thelr tlny patlents.
Care for over 50 bables a year ls now safer and of better
quallty thanks to thls equlpment.
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Coplng wlth bereavement ls dlmcult for all of us, but
for chlldren wlthout the experlence and vocabulary
wlthln whlch to understand and artlculate thelr feellngs,
the confuslon and dlstress can be compounded. ACT
has awarded 9,500 to STAPS, a speclallst local charlty,
as a contrlbutlon towards the cost of a bereavement
counsellor. The chlldren's counselllng team at
Addenbrooke's draws on the STAPS servlce to help
support famllles. The fundlng from ACT wlll enable a
counsellor to provlde pre and post bereavement servlces
for young people ln Cambrldgeshlre, tralnlng workshops
for stan and advlce and guldance for famllles.
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Patlents and thelr famllles can greatly benet from
bereavement support. A parent at the end of llfe
can feel much more secure ln the knowledge that
counselllng and support ls avallable for thelr chlldren.
|n the case of sudden death, the support of a counsellor
can provlde essentlal support that wlll help safeguard
longer-term well-belng.
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The trustees approved the use of 72,870 from our Lye
Unlt restrlcted fund to buy a powerful 'Pascal' laser, whlch
treats patlents sunerlng from dlabetlc retlnopathy - the
growth of abnormal blood vessels on the retlna. Dlabetlc
retlnopathy can lead to severe vlslon loss and ls the most
common cause of bllndness ln worklng age people ln the
UK. Addenbrooke's patlents prevlously had to walt weeks
or even months for treatment wlth the Unlt's old, standard
laser and each sesslon could take up to 30 mlnutes. The
new Pascal laser can shoot 25 tlmes as many laser beams to
lmpede the growth of the abnormal blood vessels, whlch
reduces the treatment to [ust ve mlnutes per eye, enabllng
many more patlents to be treated.
8y maklng treatment qulcker and less palnful, the
Pascal laser brlngs patlents welcome rellef and peace
of mlnd that thelr condltlon can be managed more
enectlvely. Hundreds of patlents who attend the Lye
Unlt every year wlll benet from thls speclallst new
equlpment.
"Addenbrooke's ls one of only a few
places ln the UK to have a Pascal
laser. |t's a truly exceptlonal asset
for a teachlng hospltal that puts
Addenbrooke's rlght up there wlth the
world's best eye cllnlcs. The new laser
has made a huge dlnerence to our
patlents and our servlce. Thank you to
everyone who made lt posslble.
we are so grateful.
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we awarded 3,545 from our general fund to buy a
decontamlnatlon tent for the Lmergency Department. Prlor
to the purchase of the tent, people requlrlng emergency
decontamlnatlon for chemlcal exposure, whlch lnvolves
them removlng all thelr clothlng, were decontamlnated
ln an overlooked courtyard uslng a paddllng pool and an
unstable screen. The new slngle person decontamlnatlon
tent takes [ust slx mlnutes to set up, enabllng a qulck
response and provldlng the patlent wlth prlvacy.
The often llfe-savlng decontamlnatlon procedure ls
used for l5-20 patlents every year and they can now
recelve thls treatment not only more qulckly but wlth
greater dlgnlty and prlvacy too.
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Our fundralslng stan, worklng wlth the lead cllnlclan,
secured a grant of 30,450 from the Slr 1ules Thorn
Charltable Trust for the lnstallatlon of a vldeo telemetry
system to help dlagnose chlldren who present wlth
symptoms of epllepsy. |t ls very dlmcult to assess whether
or not a chlld ls sunerlng from epllepsy from a descrlptlon of
events alone. The lnstallatlon of a vldeo telemetry system on
one of the chlldren's wards means that the speclallst team
can assess the chlld whlle they are actually experlenclng an
eplsode. The vldeo telemetry system ls dlrectly llnked-up
to the hospltal's Cllnlcal Neurophyslology department to
record braln waves and vldeo any eplsodes that occur, so
the team can accurately dlagnose the condltlon. The new
system ls the only one of lts klnd ln the Last of Lngland.
|n more than 95% of cases, the speclallst team ls now
able to clarlfy the type of eplsode the chlld ls havlng
and make more accurate recommendatlons for the
ongolng support that chlld may need to experlence a
better quallty of llfe.
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Wheelchair rollout supporting mobility
We awarded a grant of 42,791 from our general
fund to buy 66 coin-operated visitor wheelchairs for
use at Addenbrookes and the Rosie hospitals. These
wheelchairs are simple to use, easy to nd, hard to steal
and built to last.
Making a dierence for patients:
The lack of wheelchair availability at the hospitals had
been known to cause signicant anxiety and stress for
patients and visitors. The new wheelchairs funded by
ACT are modern, manoeuvrable and coin-operated like
supermarket trolleys and, being located at the main
entrances to the hospitals, are easily accessible. These
are proving particularly welcomed by patients who
have to traverse some of the hospitals longer corridors.
Enhancing the patient experience with Addenbrookes Arts
Addenbrookes Arts is the arts project for the whole of
CUH, and enhances the experience of patients, sta and
visitors through the use of the arts. We fund the projects
core costs. Its principal areas of work are improving
the hospital environment using both visual arts and
integrating art into new buildings on the site. Patients
and sta also get the opportunity to participate in the
arts, via this initiative, through a targeted programme
of arts events also open to visitors and the wider
community.
Over the year, Addenbrookes Arts integrated artwork
into a number of new developments on the hospital
campus. In the new Cambridge Health at Work building
this included the installation of newly commissioned
sculptural pieces and paintings as well as a major
commission of nine large-scale glass pieces. A poem
created through workshops with students from
Cambridge Regional College by poet John Davies was
installed in the external glazing of the Deakin Centre. And
work began on commissioning a range of artwork for the
Rosie Hospital extension.
Addenbrookes Arts also developed new opportunities for
sta, including a new sta photography group, as well as
working outside the hospitals for the rst time providing
a consultancy service on the development of a public art
scheme for a new building on the Cambridge Regional
College campus. Addenbrookes Arts also teamed up
with Hospital Arts at Norfolk and Norwich University
Hospitals NHS Foundation Trust and Open Arts in Essex to
establish Arts and Health East a network dedicated to
promoting the role of the arts in healthcare. It already has
over 100 members and is linked to the newly established
National Alliance for Arts, Health and Wellbeing. BBC
Ones The One Show, broadcast in April 2012, featured
Addenbrookes Arts, demonstrating that it is clearly at the
forefront of such initiatives.
ACTs support is central to the ongoing success of
Addenbrookes Arts. For every 1 of support from ACT,
Addenbrookes Arts raised a further 2 to develop its
programme at the hospitals. In 2011/12, ACT funded the cost
of the Arts Curator and Assistant Curator from general funds.
Hospitals can feel bare and unwelcome, with focus
understandably focused on processing patients
for diagnosis and treatment. The arts programme
at Addenbrookes and the Rosie can make a real
dierence to that visit impression, enhancing patients
experiences, improving the hospital environment
and contributing to overall wellbeing. The integrated
nature of the programme means that its eect is felt far
and wide.
Grant making for equipment, facilities and specialist
sta
Other projects awarded funds by the Grants Committee
include:
Plasma screen for the Cambridge Breast Unit waiting
room displaying hospital information and waiting times
Refurbishment of laboratory in Department of
Gastroenterology used for multiple clinical and
research functions for over 2,000 patients per year
Falls prevention aids a pressure alarm mat system for
a pilot study on one of the elderly wards
Patient information and self-management project for
the Urology Department
Beneting patients through research
In 2011/12, our Grants Committee approved
554,657 in grants and application of restricted
funds for vital research studies that could help
save the lives of patients worldwide.
Research fellowships
Each year ACT is committed to awarding grants for
research fellowships to support promising young
clinicians with the potential to make great advances in
diagnoses, medicines or treatment. ACT also works in
partnership with The Evelyn Trust to administer a further
fellowship funded by this local charity.
In 2011/12 two fellowships were awarded in the eld of
cancer to:
Dr Nicholas Grigoropoulos, working with Professor
Ming Quing Du on a study to discover the genetic
abnormalities of diuse large B-cell lymphoma the
most common aggressive lymphoma in the world.
Study title: The genetic basis of diuse large B-cell
lymphoma refractory to R-CHOP treatment (53,000)
Dr Lukas Niederreiter, working with Professor Arthur
Kaiser to study, in-depth, a rare genetic risk factor
for inammatory bowel disease that predisposes
for intestinal inammation as well as tumour
development. Study title: Epithelium intrinsic role of
XBP1 in colitis associated cancer (41,290)
The fellowship in the general medical eld was awarded to:
Dr Elizabeth Wallin, working with Dr David Jayne on
a study to identify whether peripheral white blood
cells can be used to predict outcomes in autoimmune
diseases such as vasculitis. Study title: Identication of
a biomarker predicting outcome in ANCA associated
vasculitis (44,061)
The Maxwell Charnley Fellowship in Dermatology was
awarded to:
Dr Nicholas Rabey, working with Professor Fiona Watt
on a study to determine which genes are responsible
for the abnormal growth of connective tissue in
hypertrophic scars and epidermal squamous cell
carcinoma stroma, to discover potential new targets
for treatment. Study title: Fibroblast gene expression
in Hypertrophic Scars and Epidermal (45,069)
Im very pleased to be able to tell
you that, in large part thanks to pilot
data that was generated using the
ACT fellowship, I have now been
awarded full funding for a three year
PhD project. I dont think this would
have been possible without ACT, and
Im very grateful.
ACT cancer research fellow, Dr Nicholas Grigoropoulos
Research projects
During the year, funding was approved for a range of
other research projects including:
Identication of common genetic variants associated
wit h poor prognosis in primary biliary cirrhosis (PBC)
a study to identify the genetic causes that are
associated with poor outcome in PBC.
Understanding why PBC progresses to cirrhosis and
liver failure in some, but not all patients, will ultimately
help to develop treatments to delay or reverse
progression of disease.
Follow up care for women who developed hypertension
in pregnancy (HIP): an exploration of current practice
in the East of England a study to identify what follow-
up care is provided for women with HIP, following the
publication of NICE guidance in 2010.
Women who develop HIP can have an increased risk
of cardiovascular disease and this study identied that
more patients need to be made aware of this. A follow
on project aims to develop an information resource to
support women in adopting and sustaining a heart-
healthy lifestyle.
Comparative analyses of Human Papilloma Virus
(HPV) protein expression, type and function with
clinical correlates in HPV-associated head and neck
neoplasia a study to formally identify the presence
of HPV, and its eects, in head and neck disease.
Formal identication of HPVs function in head and
neck disease will suggest that screening is possible,
similar to the cervical model of disease.
Observational study of colonic transit time following
diverting loop ileostomy for low anterior resection:
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lnvestlgate whether pre-operatlve mechanlcal bowel
preparatlon ls necessary for a patlent undergolng a
loop lleostomy after rectum exclslon.
Pre-operatlve mechanlcal bowel preparatlon and
assoclated rlsks to the patlent may be avolded.
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- a proof of concept experlment to collect pllot data
to support a 8rltlsh Heart Poundatlon appllcatlon to
lnvestlgate reasons for aortlc stlnness.
Thls work has the potentlal to ldentlfy the blologlcal
pathways that operate ln large artery stlnness and may
eventually suggest new therapeutlc targets to modlfy lt.
8enetlng patlents by supportlng the
hospltals
7he hospitaIs through the ages
The charlty funds the salary of a part
tlme professlonal archlvlst to manage the
Addenbrooke's Archlves.
The hospltal archlves (whlch full the requlrements of
the Publlc Pecord Act l958 and l967) hold a wealth of
hlstorlcal materlal and artefacts datlng from l7l6.
Durlng the last year the archlves have contlnued to
recelve a growlng number of enqulrles, vlslts and
deposlts from wlthln the hospltal and from the wlder
local, natlonal and lnternatlonal communltles.
Thls year Addenbrooke's Hospltal celebrated the 50th
annlversary of the omclal openlng of the Hllls Poad
slte by The Queen ln May l962. The archlvlst played a
slgnlcant role ln arranglng and preparlng for these
celebratlons, whlch were funded by ACT.
The archlvlst obtalned a grant of 5,l50 from the
wellcome Trust to carry out a scoplng exerclse on
conservatlon and preservatlon lssues and assessment
of the content of archlves for use wlth future grant
appllcatlons.
The archlves hold a large quantlty of patlent records
from l876 to the present day. These records are used
on a regular basls for cllnlcal research and, ln partlcular,
cllnlclans use the theatre reglsters for the ongolng
treatment of patlents.
Addenbrooke's Abroad - sharing skiIIs worIdwide
Addenbrooke's Abroad ls a related charlty under the
trusteeshlp of the |ncorporated Trustees and ls managed
as part of the ACT team.
Addenbrooke's Abroad lnsplres, enables and supports
CUH stan and students and the surroundlng health
communlty to share thelr expertlse abroad for the benet
of dlsadvantaged communltles. |t strlves to ensure there
ls reclprocal learnlng and development vla global health
partnershlps and llnks.
"we belleve these partnershlps can
have enormous benets for the NHS
and the UK not only by bulldlng
strong relatlonshlps across the globe
but also by broadenlng the educatlon
and professlonal development of UK
health professlonals.
Dame Mary Archer, Chalrman of Addenbrooke's Abroad
Commlttee
Over the year, Addenbrooke's Abroad and lts partners
contlnued the establlshed llnks wlth healthcare
organlsatlons ln 8otswana, Ll Salvador and Pomanla, and
lt supported stan members to undertake voluntary work
ln Afghanlstan, Chlna, Lthlopla, 1amalca, Tanzanla, Togo,
Madagascar and Malawl through lts Pro[ect Support
Scheme. Addenbrooke's Abroad volunteers and advlsors
undertook 37 vlslts, and Addenbrooke's Abroad also
hosted and arranged vlslts to Cambrldge and the UK by
our partners from 8otswana and Pomanla.
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The Addenbrookes Abroad Elective Bursary Scheme
also continued in 2011/12, enabling medical students
to broaden their experience by acquiring essential
knowledge, clinical skills and attitudes to help them
become and remain competent and caring doctors.
The scheme supported 17 medical student electives in
resource-poor communities during 2011/12.
Addenbrookes Abroad also commenced a programme
to develop a Health Leadership and Management
Programme under contract with the Ministry of Health
in Botswana. This programme will continue with further
funding into 2013/4.
I believe that the NHS will be gaining
an even more valuable employee
than the one who left. I have grown
in resourcefulness, skill in managing
larger projects, and gained a global
perspective on health ... it has also
increased my commitment to and
respect for the NHS.
Jonty Roland, Policy Manager, volunteered in
Botswana, 2012
Our Way Awards make a dierence for sta
We are happy to support initiatives at the hospitals that
are developed to value sta and the invaluable work
they do. The Our Way Awards are just one way in which
we help to celebrate the hard work and achievements
of individual CUH sta members and teams who go
the extra mile. This year ACT sponsored the Divisional
Excellence awards and refreshments for the awards
reception.
The Our Way Awards really make our
sta feel valued, which in turn benets
patient care. Thank you for your
support.
Karen Sandwell, Our Way Awards Organiser
Supporting sta wellbeing Addenbrookes Hospital
Recreational and Development Trust
The Addenbrookes Hospital Recreational and
Development Trust is one of the related charities
under the trusteeship of the Incorporated
Trustees.
We own the Frank Lee Leisure & Fitness Centre, the sports
and leisure centre for sta of CUH and others who work
on the campus, as well as Pemberton House, a residence
for the relatives of seriously ill patients. ACT trustees have
granted a long-term lease of these premises to the NHS
Foundation Trust which operates the facilities.
Committees and membership

Addenbrookes Abroad Committee
Dr Mary Archer Chairman, Cambridge
(Chairman) University Hospitals NHS
Foundation Trust
Mrs Evelyn Brealey Project Director, Addenbrookes
Abroad
Mrs Kathie Butcher Retired Hospital Manager,
(to 8 March 2012) Cambridge University Hospitals
NHS Foundation Trust
Mrs Belinda Chambers Trustee
(to 8 March 2012)
Mr Stephen Davies Interim Chief Executive,
(from 28 Sept. 2012) Addenbrookes Charitable Trust
(ACT)
Mr Keith Day Chief Executive, Addenbrookes
(to 27 Sept. 2011) Charitable Trust (ACT)
Dr Peter Gough Trustee
Mrs Brenda Hennessy Director of Patient Experience
and Public Engagement,
Cambridge University Hospitals
Mr Derek Jones Former Non-executive Director,
Mrs Gill Kelly Independent Healthcare
(from June 2012) Management Consultant
Dr Wilf Kelsall Consultant Neonatologist,
Mr Malcolm Kerr-Muir Hon Consultant
Ophthalmologist, Cambridge
University Hospitals NHS
Foundation Trust
Dr Zulf Masters Founder, Masters
(from June 2012) Pharmaceuticals
Dr Fraz Mir Consultant Physician,
Ms Hannah Missfelder-Lobos
Consultant in Fetal Medicine,
Mrs Sharon Scotcher International Relations
Manager, Cambridge University
Hospitals NHS Foundation Trust
Fundraising Governance Committee
Mr Jim Potter Trustee
(Chairman and Committee member to 3 July 2012)
Mrs Christine Berry Trustee
(from 3 July 2012)
Mr James Buxton Trustee
Mr Peter Dalton Director of Fundraising,
(to 31 Dec. 2011) Addenbrookes Charitable Trust
(ACT)
(ACT)
Mr David Hardy (Chairman and Committee
Chairman, Addenbrookes
Charitable Trust (ACT)
member from 3 July 2012)
Mrs Susanne Owers Acting Director of Fundraising,
(from 1 Jan. 2012) Addenbrookes Charitable Trust
(ACT)
Grants Committee
(Chairman)
Dr Jag Ahluwalia Medical Director, Cambridge
Foundation Trust
Dr John Bradley Director of Research &
Development, Cambridge
Foundation Trust
Mrs Christine Berry Trustee
(to 3 July 2012)
Mrs Dawn Chapman Retired Nurse Consultant,
(from 2 Nov. 2011) Cambridge University Hospitals
(ACT)
(ACT)
Mr David Hardy Chairman of Addenbrookes
Professor David J. Lomas Professor of Clinical MRI,
University of Cambridge
Mrs Susanne Owers Acting Director of
(from 1 Jan. 2012) Fundraising, Addenbrookes
Mr Jim Potter Trustee
(from 3 July 2012)
Mr Ralph Robinson Retired Consultant,
Addenbrookes Hospital
Professor Patrick Sissons Regius Professor of Physics,
University of Cambridge (to 30
Sept. 2012)

Finance and General Purposes Committee
Mr Roger Guthrie Trustee and Honorary Treasurer,
(Chairman) Addenbrookes Charitable Trust
(ACT)
(ACT)
(ACT)
Mr Adrian Goodchild Deputy Director of Finance,
Mr David Hardy Chairman, Addenbrookes
Mrs Susanne Owers Acting Director of Fundraising,
(from 1 Jan 2012) Addenbrookes Charitable Trust
(ACT)
Mr David Robinson Trustee
(from 14 June 2011)
Investment Committee
Mr Keith Wade Trustee and Chief Economist,
(Chairman from Schroders
26 May 2011)
(ACT)
Mr William Fox Director, Private Clients,
Cazenove Capital Management
Mr Roger Guthrie Trustee and Honorary Treasurer,
Addenbrookes Charitable Trust
(ACT)
Mr Paul Haines Chief Investment Ocer,
(from 24 Nov. 2011) Trafalgar House Pensions
Administration
Mr David Hardy Chairman, Addenbrookes
Mr David Smith Director of Finance, Cambridge
Foundation Trust
The Friends of Addenbrookes Committee
Mrs Linda Acton
Mrs Nicola Brown
Mr Tudor Brown
(Member and Chairman from 10 Sept. 2012)
Mrs Barbara Davies
Mr Colin Davies
(Member to 10 Sept. 2012)
Dr Jennifer Hughes
Mrs Michele Satchwell
Mrs Jane Small
(Chairman to 10 Sept. 2012)
Lady Pat Stoute
Mrs Ann Thomas
Financial Review
At 31 March 2012 the charitys funds totalled 24.893m
(2011: 25.413m). During the year the charity received
6.888m (2011: 9.058m) of income and spent 7.016m
(2011: 6.605m). Of this expenditure, 5.591m (2011:
5.214m) was in respect of direct charitable activities,
with 1.278m (2011: 1.248m) and 0.088m (2011:
0.083m) being spent on generating funds and
governance respectively. The charity made investment
losses totalling 0.392m (2011: 0.527m gain) during the
year.
The key objectives of the charity have been supported
during the year by signicant targeted expenditure
including; 1.378m (2011: 1.142m) on patients welfare
and amenities; 0.724m (2011: 1.249m) on sta welfare
and amenities; and 1.628m (2011: 0.771m) on research.
This has been possible mainly as a result of the generosity
of donors with 1.654m (2011: 1.456m) received from
donations and 0.657m (2011: 1.437m) from legacies.
Management has taken a more rigorous approach to
accruing committed grant expenditure in 2011/12 in an
eort to ensure compliance with best practice. This has
resulted in additional charitable expenditure of 0.733m
being accounted for in 2011/12 that would otherwise
have been recognised in future accounting periods.
At the year end, negative fund balances totaling 0.5m
were identied, of which 0.4m related to the 2020
Vision Campaign. During 2012/13 the hospital made a
subvention payment to ACT of 440,000 in relation to
these costs.
During the year the charity earned total investment
income of 0.537m (2011: 0.477m). The total return
on the Newton Investment portfolio for the 12 months
ended 31 December 2011 was -5.9%, compared to the
internally set benchmark of -0.2% (the FTSE All Share
index return for the same period was -3.5%). The total
return on the Newton Investment portfolio for the three
months ended 31 March 2012 was +5.6%, compared to
the internally set benchmark of +5.5% (the FTSE All Share
index return for the same period was +6.1%).
The above gures represent the consolidated results of
the charity, inclusive of its trading subsidiary, The Fund
for Addenbrookes Limited. Further details on the results
of this subsidiary are available in Note 5 to the Financial
Statements. The company carries out trading activities
on behalf of its parent charity. Prots generated are paid
under Gift Aid to the parent.
Each of the charitys individual funds has discrete
charitable objects that dierentiate it from the other
funds, and each one is administered by a small group of
Fund Advisors (such as consultants or senior nurses).
Restricted funds are earmarked for the benet of wards,
departments and other specic purposes, and sta,
patients and relatives support the funds by donating not
only their money, but also their time and ideas.
Expenditure decisions are generally made at a local level
by these fund advisors in accordance with a Scheme of
Delegation. Whilst all funds (with the exception of the
endowment fund) are available to be spent, it is generally
necessary for individual fund advisors to decide on the
level of nancial reserve appropriate for their funds
expenditure commitments. The trustees monitor all funds
to ensure that individual reserve levels are reasonably
appropriate and that all money received, other than for
endowment, is spent as expeditiously as possible.
Reserves policy
The trustees do not feel that the current level of reserve
(dened as the charitys general fund) is adequate for the
charitys long term needs, but it is hoped that proactive
fundraising activities will increase the value of reserves
beyond the current level of 1.370m (2011: 1.262m)
to approximately 4m. The general fund is used to fund
the recommendations of the Grants Committee and to
fund the Arts and Archive Programmes. It is occasionally
used to underwrite key fundraising projects and to
pump prime some projects. A larger general fund would
be particularly valuable in giving the trustees greater
exibility in achieving the objects of the charity.
Overall the charitys nancial position at 31 March 2012
is satisfactory and provides a sound nancial base from
which to pursue the charitys strategic aims during the
coming year.
Statement of trustees responsibilities
The trustees are responsible for preparing the Trustees
Report and the nancial statements in accordance
with applicable law and United Kingdom Accounting
Standards (United Kingdom Generally Accepted
Accounting Practice).
The law applicable to charities in England and Wales
requires the trustees to prepare nancial statements
for each nancial year which give a true and fair view
of the state of aairs of the charity and of the incoming
resources and application of resources of the charity for
that period. In preparing these nancial statements, the
trustees are required to:
select suitable accounting policies and then apply
them consistently;
observe the methods and principles in the Charities
SORP;
make judgements and estimates that are reasonable
and prudent;
state whether applicable accounting standards have
been followed, subject to any material departures
disclosed and explained in the nancial statements;
- prepare the nanclal statements on the golng
concern basls unless lt ls lnapproprlate to presume
that the charlty wlll contlnue ln buslness.
The trustees are responslble for keeplng proper
accountlng records that dlsclose wlth reasonable
accuracy at any tlme the nanclal posltlon of the charlty
and enable them to ensure that the nanclal statements
comply wlth the Charltles Act l993, as amended by the
Charltles Act 2006, the Charlty (Accounts and Peports)
Pegulatlons 2008 and the provlslons of the trust deed.
They are also responslble for safeguardlng the assets of
the charlty and hence for taklng reasonable steps for the
preventlon and detectlon of fraud and other lrregularltles.
The trustees are responslble for the malntenance and
lntegrlty of the charlty's webslte. The work carrled
out by the audltors does not lnvolve conslderatlon of
these matters and, accordlngly, the audltors accept no
responslblllty for any changes that may have occurred
to the nanclal statements slnce they were lnltlally
presented on the webslte. Leglslatlon ln the Unlted
Klngdom governlng the preparatlon and dlssemlnatlon
of nanclal statements may dlner from leglslatlon ln
other [urlsdlctlons.
#Z0SEFSPGUIF5SVTUFFT
Slgned:

Chalrman: Date:

Trustee: Date:

ll December 20l2
ll December 20l2
|ndependent audltors' report to the
Trustees of Addenbrooke's Charltable
Trust (ACT)
we have audlted ACT's nanclal statements for the
year ended 3l March 20l2 whlch comprlse the
Group Statement of Plnanclal Actlvltles, the Group
and Parent Charlty 8alance Sheets, the Group Cash
Plow Statement and the related notes. The nanclal
reportlng framework that has been applled ln thelr
preparatlon ls appllcable law and Unlted Klngdom
Accountlng Standards (Unlted Klngdom Generally
Accepted Accountlng Practlce).
Respective responsibiIities of trustees and auditors
As explalned more fully ln the Trustees' Pesponslbllltles
Statement set out on page 26, the trustees are
responslble for the preparatlon of nanclal statements
whlch glve a true and falr vlew.
Our responslblllty ls to audlt and express an oplnlon on
the nanclal statements ln accordance wlth appllcable
law and |nternatlonal Standards on Audltlng (UK and
|reland). Those standards requlre us to comply wlth the
Audltlng Practlces 8oard's Lthlcal Standards for Audltors.
Thls report, lncludlng the oplnlons, has been prepared for
and only for the charlty's trustees as a body ln accordance
wlth sectlon l44 of the Charltles Act 20ll and regulatlons
made under sectlon l54 of that Act (Pegulatlon 27 of
The Charltles (Accounts and Peports) Pegulatlons 2008)
and for no other purpose. we do not, ln glvlng these
oplnlons, accept or assume responslblllty for any other
purpose or to any other person to whom thls report ls
shown or lnto whose hands lt may come save where
expressly agreed by our prlor consent ln wrltlng.
Scope of the audit of the nanciaI statements
An audlt lnvolves obtalnlng evldence about the amounts
and dlsclosures ln the nanclal statements sumclent to
glve reasonable assurance that the nanclal statements
are free from materlal mlsstatement, whether caused
by fraud or error. Thls lncludes an assessment of:
whether the accountlng pollcles are approprlate to the
group's and parent charlty's clrcumstances and have
been conslstently applled and adequately dlsclosed,
the reasonableness of slgnlcant accountlng estlmates
made by the trustees, and the overall presentatlon of the
nanclal statements. |n addltlon, we read all the nanclal
and nonnanclal lnformatlon ln the annual report
to ldentlfy materlal lnconslstencles wlth the audlted
nanclal statements. |f we become aware of any apparent
materlal mlsstatements or lnconslstencles we conslder
the lmpllcatlons for our report.
Dpinion on nanciaI statements
|n our oplnlon the nanclal statements:
- glve a true and falr vlew of the state of the group's and
the parent charlty's analrs as at 3l March 20l2, and
of the group's lncomlng resources and appllcatlon of
resources and cash nows, for the year then ended,
- have been properly prepared ln accordance wlth
Unlted Klngdom Generally Accepted Accountlng
Practlce, and
- have been prepared ln accordance wlth the
requlrements of the Charltles Act 20ll and
Pegulatlon l5 of The Charltles (Accounts and Peports)
Pegulatlons 2008.
Matters on which we are required to report by
exception
we have nothlng to report ln respect of the followlng
matters where the Charltles Act 20ll requlres us to report
to you lf, ln our oplnlon:
- the lnformatlon glven ln the Trustees' Annual Peport ls
lnconslstent ln any materlal respect wlth the nanclal
statements, or
- sumclent accountlng records have not been kept by
the parent charlty, or
- the parent charlty nanclal statements are not ln
agreement wlth the accountlng records and returns,
or
- we have not recelved all the lnformatlon and
explanatlons we requlre for our audlt.
1SJDFXBUFSIPVTF$PPQFST--1
Chartered Accountants and Statutory Audltors
Cambrldge
Date:
PrlcewaterhouseCoopers LLP ls ellglble to act, and has
been appolnted, as audltor under sectlon l44(2) of the
Charltles Act 20ll
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Delia Swann, survivor of a terrifying car crash
that left her in a coma and potentially brain
damaged. Charitable donations helped enhance
many elements of her care.
Note Group Charity Group Charity
31-Mar-12 31-Mar-12 31-Mar-11 31-Mar-11
000 000 000 000
Fixed Assets
Tangible fixed assets 5.1 384 384 564 77
Investments 5.3 11,814 11,814 12,266 12,266
Total fixed assets 12,198 12,198 12,830 12,343
Current Assets
Debtors 6 1,627 1,638 2,322 3,138
Short term investments and
deposits 7 10,210 10,210 9,060 9,060
Cash at bank and in hand 2,208 2,144 2,367 1,870
Total current assets 14,045 13,992 13,749 14,068
Creditors: amounts falling due
within one year 8 (1,250) (1,206) (1,066) (875)
Net current assets 12,795 12,786 12,683 13,193
Total assets less current
liabilities 24,993 24,984 25,513 25,536
Creditors: amounts falling due
in more than one year 8 (100) (100) (100) (100)
Net Assets 24,893 24,884 25,413 25,436
Funds
Endowment fund 9 601 601 621 621
Restricted funds 10 21,501 21,501 22,031 22,055
Unrestricted funds 11 2,791 2,782 2,761 2,760
Total Funds 24,893 24,884 25,413 25,436
The Financial Statements were approved by the Trustees on 11 December 2012 and signed on their behalf by:
Signed:
Chairman: ................................................................ Date: ........................................................
Trustee: ................................................................ Date: ........................................................
8alance Sheet as at 3l March 20l2
ll December 20l2
ll December 20l2
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Notes to the Financial Statements
Accounting policies
These Financial Statements have been prepared under the historical cost convention, as modied for the revaluation
of certain investments, and in accordance with applicable United Kingdom accounting standards, the Charities Act
2011 and the Statement of Recommended Practice (SORP 2005), Accounting and Reporting by Charities issued by
the Charity Commissioners in 2005.
Basis of preparation
The Financial Statements are prepared in accordance with the accruals concept.
1.1 Consolidation
The charity owns 100% of the issued share capital of The Fund for Addenbrookes Limited, a trading company
registered in England and Wales. The share capital of the company is 1. The consolidated group results incorporate
the nancial statements of The Fund for Addenbrookes Limited on a line by line basis. All intercompany transactions
have been eliminated on consolidation.
1.2 Incoming resources
The policies followed, which deal with income and donations, are:
Donations
All incoming resources are included in full in the statement of nancial activities as soon as the following three factors
can be met:
Entitlement arises when a particular resource is receivable or the charitys right becomes legally enforceable;
Certainty when there is reasonable certainty that the incoming resource will be received;
Measurement when the monetary value of the incoming resource can be measured with sucient reliability.
Cash donations are accounted for when received in the cash oce.
Gifts in kind
Assets given for distribution by the charity are included in the statement of nancial activities only when
distributed.
Assets given for use by the charity (e.g. property for its own occupation) are included in the statement of nancial
activities as incoming resources when receivable.
Gifts made in kind but on trust for conversion into cash and subsequent application by the charity are included in
the accounting period in which the gift is sold.
In all cases the amount at which gifts in kind are brought into account is either a reasonable estimate of their value to
the charity or the amount actually realised.
Legacies
Legacies are included in incoming resources once they have been received or receipt becomes reasonably certain.
This will be once conrmation has been received from the representatives of the estate that payment of the legacy will
be made or property transferred and once all conditions attached to the legacy have been fullled.
Other grants receivable
Other grants receivable are included in incoming resources once there is sucient evidence that any conditions
attached have been fullled; unconditional grants are recognised at the earlier of receipt or entitlement.
Activities for generating funds
Activities for generating funds are the trading and other fundraising activities carried out by the charity primarily to
generate incoming resources which will be used to undertake its charitable activities.
Incoming resources from charitable activities
Incoming resources from charitable activities are any incoming resources for which a payment has been received for
goods and services provided for the benet of the charitys beneciaries, such as course fees or professional fees.
Deferred income
Income has been deferred and included within creditors, where the transaction creating the income has already
occurred but the income relates to a future nancial period.
1.3 Resources expended
All expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party.
The costs of generating funds are the costs associated with generating income.
Grants payable are included in charitable activities and are payments made to third parties in the furtherance of
charitable objectives. Grants payable are given on an individual basis to cover patient/sta welfare and amenities
and are recognised once the third party has a reasonable expectation that they will receive the grant and all of the
conditions, if any, attaching to the grant have been met. Similarly, contributions to the NHS Foundation Trust are
recognised on the same basis.
Governance costs are the costs associated with the governance arrangements of the charity which relate to the
general running of the charity as opposed to those costs associated with fundraising or charitable activities. These
costs include audit costs, legal advice for the trustees and costs associated with constitutional and statutory
requirements.
Sta costs and other support costs are allocated between costs of generating funds, charitable activities and
governance on the basis of actual accrued spend.
It is the charitys policy to apportion support costs which cannot be attributed directly to specic funds across all
funds in proportion to each funds average monthly balance being a reasonable estimate of the costs of administering
the funds.
1.4 Denitions of funds
The charity holds endowment, restricted and unrestricted funds; unrestricted funds may be either designated or
undesignated.
Endowment funds are unrestricted and are held to generate income to further the charitys general objects. The
income earned is also unrestricted.
Restricted funds are expendable only in accordance with the discrete wishes of the donors, within the objects of
the charity. The trustees of the charity are legally obliged to conform with the wishes of the donor.
Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity.
Unrestricted funds may, as determined by the trustees, be designated towards some particular aspect of the
charity. This designation has an administrative purpose only, and does not legally restrict the trustees discretion to
apply the funds.
Undesignated funds or general funds are unrestricted funds which the trustees have not specically designated
towards some particular aspect of the charity.
1.5 Investment assets
The charity holds a portfolio of investments made up of investment properties, cash held on deposit, and a
professionally managed portfolio of securities. Interest, dividends and rent receivable during the year are recognised
in the statement of nancial activities under investment income when receivable.
Investment properties
Investment properties are included in the Financial Statements at their market value, based on professional valuation
or based on an appropriate local property index applied by the trustees to adjust the value of the investment
properties to their current estimated market value. Gains or losses are calculated as the dierence between the
market value at the current year end and the market value at the previous year end.
Investments listed on a recognised Stock Exchange
Investments listed on a recognised Stock Exchange are valued at market value according to valuation reports provided
by the charitys fund managers as at 31 March 2012. Realised gains and losses on investments are calculated as the
dierence between sale proceeds and opening market value (or date of purchase if later). Unrealised gains and losses
are calculated as the dierence between market value at the year end and opening market value (or date of purchase
if later).
Investments in subsidiary undertakings
Investments in subsidiary undertakings are treated as xed asset investments and valued at cost less any amounts
written o.
Fixed asset investments
Fixed asset investments are reviewed annually for impairments.
1.6 Pension contributions
Pension Costs NHS Pension Scheme
Past and present employees are covered by the provisions of the NHS Pensions Scheme. The scheme is an unfunded,
dened benet scheme (which prepares its own scheme statements) that covers NHS employers, general practices
and other bodies, allowed under the direction of the Secretary of State in England and Wales. As a consequence, it is
not possible for the Trust to identify its share of the underlying scheme liabilities. Therefore, the scheme is accounted
for as a dened contribution scheme.
The NHS Pensions Scheme is subject to a full valuation every four years by the Government actuary. The latest
published valuation relates to the period 1 April 1999 to 31 March 2004 which was published in December 2007 and is
available on the Pensions Agency website.
The notional decit of the scheme was 3.3 billion as per the last scheme valuation. The conclusion of the valuation
was that the scheme continues to operate on a sound nancial basis. Employer contribution rates are reviewed every
four years following the scheme valuation, on advice from the actuary. At the last valuation, it was recommended that
employer contribution rates should continue at 14% of pensionable pay. From 1 April 2008, employees contributions
have been on a tiered scale from 5% to 8.5% of their pensionable pay.
Employers pension cost contributions are charged to operating expenses as and when they become due.
Additional pension liabilities arising from early retirements are not funded by the scheme except where the retirement
is due to ill health. The full amount of the liability for the additional costs is charged at the time the Trust commits itself
to the retirement, regardless of the method of payment.
1.7 Tangible xed assets
Valuation
Tangible xed assets are stated at cost, including any costs such as installation directly attributable to bringing them
into working condition. The carrying values of tangible xed assets are reviewed for impairment in periods if events or
changes in circumstances indicate the carrying value may not be recoverable. All xed assets are capitalised; no de-
minimis limit is applied.
Depreciation
Tangible xed assets are depreciated at rates calculated to write them down to estimated residual value on a straight-
line basis over their estimated useful lives, as follows:
Asset Type Life in years
MRI Scanner 5
Oce equipment 5
Tangible xed assets within The Fund for Addenbrookes Limited are depreciated at 20% of their opening cost,
however upon consolidation, an adjustment is processed to align the accounting policies.
1.8 Provisions
The charity provides for legal or constructive obligations that are of uncertain timing or amount at the balance sheet
date on the basis of the best estimate of the expenditure required to settle the obligation.
1.9 Irrecoverable VAT
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
1.10 Parent Charity Financial Statements
Addenbrookes Charitable Trust has taken advantage of the Charity Commission exemption allowing the Charity to
omit the statement of nancial activities for the parent charity. Total incoming resources of the parent charity are
6.888m (2011: 9.058m), total resources expended are 7.016m (2011: 6.605m) and net movement in funds is
0.520m loss (2011: 2.980m gain) after taking account of 0.392m loss (2011: 0.527m gain) on investment assets.
Annual Report and Financial Statements 2011/12
35
2.1 Investment income
Unrestricted Restricted Group Group
Funds Funds 31-Mar-12 31-Mar-11
000 000 000 000

2.2 Incoming resources fromcharitable activities
000 000 000 000

The decrease in services provided is due to a decrease in the number of clinical trials.
3.1 Resources expended
Cost of Cost of Governance Group Group
Generating Charitable Costs 31-Mar-12 31-Mar-11
Funds Activities
000 000 000 000 000

A total of nil (2011: nil) was reimbursed to Trustees for expenses in the period.
Other costs of charitable activities 5.591m (2011: 5.214m) include 3.730m (2011: 3.162m) of grants
payable by the Charity.
36
3.2 Charitable activities
000 000 000 000

Included within the above charitable activities is 0.08m for support costs (2011: 0.07m).
3.3 Analysis of staff costs
Group Group
31-Mar-12 31-Mar-11
000 000

Salary above 60,000 (bands of 10,000)
000 31-Mar-12 31-Mar-11

Number of staff
One employee received remuneration in excess of 60,000 during the year as in prior year.
37
4. Analysis of net assets between funds
Group
Unrestricted Restricted Endowment Total Total
Funds Funds Funds 31-Mar-12 31-Mar-11
000 000 000 000 000

Charity
Unrestricted Restricted Endowment Total Total
Funds Funds Funds 31-Mar-12 31-Mar-11
000 000 000 000 000

5. Tangible fixed assets
5.1 Tangible fixed assets at the balance sheet date comprise the following elements:
Group
MRI Office Total
Scanners Equipment
000 000 000
Cost

Accumulated depreciation

Net book value

38
Charity
MRI Office Total
Scanners Equipment
000 000 000
Cost

Accumulated depreciation

Net book value

5.2 Profit on fixed asset disposals
Group and Charity
31-Mar-12 31-Mar-11
000 000

39
5.3 Analysis of fixed asset investments
Group and Charity
Investment
Investments
listed on a
recognised
stock
Group Group
properties exchange 31-Mar-12 31-Mar-11
000 000 000 000

No publicly traded investments, listed on a recognised stock exchange, represent in excess of 5% of the total
investment portfolio valuation at 31 March 2012.
The charity owns 100% of the issued share capital of The Fund for Addenbrookes Limited, a trading company
registered in England and Wales. The share capital of the company is 1.
40
A summary of the results of the subsidiary, The Fund for Addenbrookes Limited, are shown below:
Year ended Year ended
31-Mar-12 31-Mar-11
000 000

41
6. Debtors
Group Charity Group Charity
31-Mar-12 31-Mar-12 31-Mar-11 31-Mar-11
000 000 000 000
Amounts falling due within one year:

Within prepayments and accrued income 0.802m (2011: 1.198m) relates to accrued income from legacies.
7. Short terminvestments and deposits
31-Mar-12 31-Mar-12 31-Mar-11 31-Mar-11
000 000 000 000

8. Creditors
31-Mar-12 31-Mar-12 31-Mar-11 31-Mar-11
000 000 000 000

Amounts falling due within one year:

Amounts falling due in greater than one year:
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13. Related parties
During the year none of the trustees or members of the key management sta, or parties related to them, have
undertaken any material transactions with the charity. Cambridge University Hospitals NHS Foundation Trust acts as
paying agent for much of the charitys expenditure, but is reimbursed on a regular basis. During the year the charity
contributed 4.354m (2011: 3.951m) towards various schemes of Cambridge University Hospitals NHS Foundation
Trust. At the end of the year the charity owed 0.005m (2011: 0.391m) to the Trust. The Trust provides administrative
and nancial services to the charity for which a charge of 0.083m (2011: 0.072m), which represents actual costs, has
been made.
Two of the trustees are also non-executive directors of Cambridge University Hospitals NHS Foundation Trust.
Cambridge University Hospitals NHS Foundation Trust paid the subsidiary, The Fund for Addenbrookes Limited,
0.658m (2011: 0.889m) for the maintenance of MRI scanners. All prot of The Fund for Addenbrookes Limited is gift
aided to Addenbrookes Charitable Trust.
The charity has taken advantage of the exemption contained in FRS 8 Related party disclosures, which exempts
it from disclosing details of transactions between the charity and the subsidiary, as the subsidiary is a wholly owned
subsidiary of the charity.
14. Post balance sheet events
There have been no material post-balance sheet events which would require adjustment to or disclosure in the 31
March 2012 Financial Statements.
ACT is the working name for The Incorporated Trustees of
Addenbrookes Charitable Trust and other related charities.
Registered charity number: 1048868

Addenbrooke's Charitable Trust Report and Accounts 2011-2012

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