financial reports 2006 | breast cancer trials

ANZ BREAST CANCER TRIALS GROUP LIMITED

ABN 64 051 369 496

FINANCIAL REPORT

FOR THE YEAR ENDED 31 MARCH 2006

CONTENTS

Directors’ Report 1 Income Statement 12 Balance Sheet 13 Cash Flow Statement 14 Changes in Equity 15 Notes to and Forming Part of the Financial Statements 16 Directors’ Declaration 27 Auditors Independence Declaration 28 Independent Auditor’s Report 29

Auditor’s Disclaimer 30 Statement of Income and Expenditure 31 Directors’ Declaration in Respect of Fundraising Activities 35 Breast Cancer Institute of Australia (BCIA) 36 Statements of BCIA Income and Expenditure 39 Unaudited Supplementary Statement 44

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ANZ BREAST CANCER TRIALS GROUP LIMITED ABN 64 051 369 496

DIRECTOR’S REPORT FOR THE YEAR ENDED 31 MARCH 2006

Your directors of ANZ Breast Cancer Trials Group Limited present their report for the year ended 31 March, 2006. 1. DIRECTORS Elections were held in July 2005. The names of directors in office at any time during or since the end of the year are: R Basser, MBBS, MD, FRACP R Basser is the Gobal Director of Clinical

Development, Commonwealth Serum Laboratories Limited (Parkville, VIC, AUSTRALIA).

F Boyle, MBBS, PhD, FRACP F Boyle is a Senior Staff Specialist, Medical

Oncology Department, Royal North Shore Hospital (Sydney, NSW, AUSTRALIA).

I D Campbell, BHB (Human Biology), MBChB, Dip Obst., FRACS

I D Campbell is Clinical Director of the Breast Care Centre, and a Surgeon at Waikato Hospital (Hamilton, NEW ZEALAND).

J H Chirgwin (Chair) MA(Oxon), MBBS, MRCP(UK),FRACP

J H Chirgwin is a Medical Oncologist at Box Hill Hospital and Maroondah Hospital (Melbourne, VIC, AUSTRALIA).

A S Coates (Vice Chair) MBBS, MD, MRACP FRACP

A S Coates is Clinical Professor at the University of Sydney, and CEO of The Cancer Council Australia. Chairman, ANZ BCTG Scientific Advisory Committee (Sydney, NSW, AUSTRALIA).

J F Forbes, MBBS, B.Med.Sci, MS, FRACS, FRCS

J F Forbes is Professor of Surgical Oncology at the University of Newcastle and Director, Department of Surgical Oncology, Newcastle Mater Misericordiae Hospital (Waratah, NSW, AUSTRALIA).

A Hamilton, MBBS, DES, FRACP A Hamilton is a Medical Oncologist at

Sydney Cancer Centre, Royal Prince Alfred Hospital (Sydney, NSW, AUSTRALIA). Appointed 8/7/2005

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G Lindeman, B Sc (Med), MBBS (Hons), PhD FRACP

G Lindeman is a Medical Oncologist and Basic Research Scientist. He is head of the Familial Cancer Centre, Royal Melbourne Hospital, and co-Head of the Victorian Breast Cancer Research Consortium Breast Cancer Laboratory, The Walter and Eliza Hall Institute (Melbourne, VIC, AUSTRALIA).

R J Simes, MBBS, SM, FRACP, MD R J Simes is Professor of Clinical

Epidemiology and Director of the NHMRC Clinical Trials Centre (University of Sydney, NSW).

R D Snyder FRACP, MBBS, M.Med

R D Snyder is a Medical Oncologist in the Department of Medical Oncology, St Vincent's Hospital (Fitzroy, VIC, AUSTRALIA). Retired 8/7/2005

2. PRINCIPAL ACTIVITIES The principal activities of the company during the year were the design, conduct, analysis and publication of clinical trials in breast cancer, the development and furtherance of the scientific basis of trials and the collaboration with people, groups and bodies as appropriate to pursue these activities. These activities involve laboratory and clinical research, treatment and prevention research, and fundraising and education. 3. OPERATING RESULTS The net amount of the surplus of the company for the year ended 31 March 2006 was $1,574,167 (for the year ended 31 March 2005 surplus of $853,763). 4. ADOPTION OF AUSTRALIAN EQUIVALENTS TO IFRS As a result of the introduction of Australian equivalents to International Financial Reporting Standards (IFRS), the Company’s financial report has been prepared in accordance with those Standards. A reconciliation of adjustments arising on the transition to IFRS is included in Note 2 to the Financial Statements.

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5. REVIEW OF OPERATIONS 5.1.1 National and International Clinical Trials Program

The ANZ BCTG conducts investigator led trials where all aspects of trial management are the responsibility of the Group. The ANZ BCTG is not involved in trials conducted by the pharmaceutical industry. The clinical trials program has been expanded, and new research grants have been received. Our current clinical trials include:

Breast Cancer Prevention

(i) IBIS 1 (International Breast cancer Intervention Study) This protocol was commenced in Australia by the ANZ Breast Cancer Trials Group and is an international collaborative program. The IBIS trial is designed to determine whether women at high risk of developing breast cancer can avoid breast cancer if they use tamoxifen, an agent which is widely and effectively used to treat and control established breast cancer. Extensive and rigorous review of the trial has continued. Australia has 17 participating centres (from all states and New Zealand) and additional affiliate centres. International collaboration is via Cancer Research UK (CRUK). The study completed its Australian target accrual of 2,500 during in March 2001 and Australia achieved the highest per capita accrual worldwide. Follow-up of all patients is essential and will be continued by the ANZ BCTG. The follow-up phase of this trial is funded, in Australia, by a National Health and Medical Research Council (NHMRC) Project Grant (2006-2010).

(ii) IBIS 2 (International Breast cancer Intervention Study) This trial aims to improve prevention of breast cancer in postmenopausal women at increased risk using anastrozole (Arimidex), and commenced recruiting patients in Australia and New Zealand in November 2005. This is an international study in collaboration with CRUK. The recruitment phase of this trial is partially funded, in Australia, by a National Health and Medical Research Council (NHMRC) Project Grant (2006-2008).

Adjuvant and advanced ANZ BCTG breast cancer protocols are conducted in collaboration with a number of international research groups, including: The International Breast Cancer Study Group (IBCSG), which involves collaboration with

over 15 countries internationally. More than 350 publications have come from this collaboration, including important publications of trials evaluating the timing and dose of chemotherapy, the quality of life of patients, and the biology of breast cancer. The IBSCG has an Operations Office in Bern, Switzerland and a statistical centre at Harvard University in Boston, US

The Early Breast Cancer Trials Collaborative Group (EBCTCG), which undertakes overviews of all randomised treatment trials for early breast cancer. This Group is located at the CTSU, University of Oxford, UK.

The Breast International Group (BIG), located in Brussels, Belgium. The Breast Cancer International Research Group (BCIRG), located in Paris, France.

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5. REVIEW OF OPERATIONS (cont’d)

Pre-Surgical

Protocol BCIRG 103

A pre-surgical study to evaluate molecular alterations which occur in human breast cancer tissue and normal skin after short term exposure to ZD1839 (IRESSA™) and to correlate these alterations with pharmacokinetic parameters. This trial is conducted in collaboration with the BCIRG. Accrual closed in December 2004.

Early Breast Cancer

(i) Protocol IBCSG 16/BIG 2-97 (Intergroup Exemestane Study, IES)

This protocol studies postmenopausal women with primary breast cancer who have received adjuvant tamoxifen for two - three years, and compares subsequent treatment with either further tamoxifen or exemestane. The trial is conducted by the ANZ Breast Cancer Trials Group in collaboration with the IBCSG and the Breast International Group (BIG). This research receives industry support from Pfizer Australia Pty Ltd. Accrual closed in February 2003, follow-up of patients continues.

(iv) Protocol IBCSG 18-98/BIG 1-98 (Adjuvant Letrozole)

This study is testing the new oestrogen lowering drug, letrozole, against the standard drug tamoxifen, in postmenopausal women with operable breast cancers that are sensitive to oestrogen. This is an international collaborative study and, internationally, receives support from Novartis Pharmaceuticals. The ANZ BCTG receives no local funding for the central costs associated with this study. Accrual closed in May 2003, follow-up of patients continues.

(v) Protocol IBCSG 20-98/BIG 2-98 (Taxotere)

This protocol is testing a new agent, docetaxol (Taxotere), for the treatment of women with operable breast cancer and involved lymph glands. This is an international collaborative study. This research is supported in Australia by a NHMRC Project Grant (2005-2008), and, internationally, receives funding from Sanofi-Aventis. Accrual closed in June 2001, follow-up of patients continues.

(vii) Protocol IBCSG 22-00

This trial is evaluating “Anti-angiogenesis Treatment” following adjuvant induction chemotherapy for patients with ER-negative and PgR-negative breast cancer. It is an international trial in collaboration with the IBCSG.

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(i) Protocol IBCSG 23

A randomised trial to determine axillary dissection vs. no further axillary surgery, for patients with micrometastasis in the sentinel lymph node. This is an international trial in collaboration with the IBCSG.

(vi) Protocols IBSCG 24-02 – 26-02/BIG 2-02 – 4-02/SOFT TEXT PERCHE

This suite of trials aims to improve treatment of breast cancer in premenopausal women. The studies provide tailored treatment investigations for premenopausal patients with endocrine-responsive disease. This research is supported in Australia by a NHMRC Project Grant (2005-2008), and, internationally, receives funding from Pfizer. These trials are conducted in collaboration with the IBCSG, BIG and North American Breast Intergroup.

(viii) Protocol IBCSG 27

A randomized clinical trial of adjuvant chemotherapy for radically resected loco-regional relapse of breast cancer, the randomisation is to chemotherapy or observation. It is an international trial in collaboration with the IBCSG.

(ix) Protocol ANZ 9602/ATLAS (Adjuvant Tamoxifen Longer Against Shorter)

This is a trial for women with early breast cancer being conducted by the ANZ Breast Cancer Trials Group in collaboration with the Clinical Trial Service Unit (CTSU), at the University of Oxford, UK. The aim of the study is to compare different durations of adjuvant tamoxifen therapy to determine the optimum period of tamoxifen use. Accrual closed in March 2005, follow-up of patients continues.

(ix) Protocol ANZ 0101/ BIG 01-01/ HERA

This study is a randomised three-arm multi-centre comparison of 1 year and 2 years of Herceptin, versus no Herceptin in women with HER2-positive primary breast cancer who have completed adjuvant chemotherapy. This is an international collaborative study, with support from Roche Products Pty Ltd. Accrual to the main study closed in June 2005, follow-up of patients continues.

(x) Protocol IBCSG 30-04/ MA 27

A randomized phase III trial of exemestane vs anastrozole in postmenopausal women with hormone receptor–positive primary breast cancer. This is an international collaboration with the National Cancer Institute of Canada, the BIG and the IBCSG.

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Advanced Breast Cancer (i) Protocol ANZ 0001

This study evaluates whether simple daily oral chemotherapy with capecitabine is preferable to standard intermittent bolus chemotherapy with CMF. This trial receives support from Roche Products Pty Ltd (Australia). Accrual closed in July 2005, follow-up of patients continues.

(ii) Protocol ANZ 0102/BCIRG 007

A randomised trial comparing docetaxel and trastuzumab with trastuzumab, docetaxel and platinum salt, as a first line chemotherapy for patients with advanced breast cancer containing the HER2 gene amplification. This is an international collaborative trial involving the Breast Cancer International Research Group (BCIRG). Accrual closed in March 2004, follow-up of patients continues.

(iii) Protocol ANZ 0201/TIBER

A phase II trial evaluating an EGFR selective tyrosine kinase inhibitor (‘IRESSATM’) in patients with hormone insensitive (oestrogen and progesterone receptor negative) or hormone resistant (oestrogen and/or progesterone receptor positive) metastatic or inoperable locally advanced breast cancer. This study has support from AstraZeneca Pharmaceuticals (Australia). Accrual closed in September 2004, follow-up of patients continues.

5.1.2 New Research Protocols

Neo-Adjuvant Research (i) Protocol ANZ 0502

A phase II trial evaluating the efficacy and safety of epirubicin and cyclophosphamide (EC) followed by docetaxel with gemcitabine (DG) (+ trastuzumab if HER2 Positive) as neoadjuvant chemotherapy for women with large operable or locally advanced breast carcinoma including inflammatory breast cancer. This trial is being coordinated by the ANZ BCTG and receives support from Eli Lilly Australia, Roche Products Pty Ltd and Sanofi-Aventis.

Pre-invasive Breast Cancer

(i) Protocol DCIS II A randomised trial of observation (no radiotherapy) after complete microscopic excision and endocrine therapy in women with low-risk ER positive ductal carcinoma in situ (DCIS) undergoing adjuvant endocrine therapy. This trial is being coordinated by the Institute for Cancer Research UK, and will be coordinated in Australia and New Zealand by the ANZ BCTG.

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Early Breast Cancer

(i) Protocol IBCSG 34-05/SWOG 0230 A phase III trial of LHRH analogue administration during chemotherapy to reduce ovarian failure following standard adjuvant chemotherapy in early stage, hormone receptor negative breast cancer. This is an international trial in collaboration with the

IBCSG and South Western Oncology Group (USA), and will be coordinated in Australia and New Zealand by the ANZ BCTG.

(ii) Protocol ANZ 0501 (LATER)

A phase III randomised trial evaluating late adjuvant aromatase inhibitor therapy with letrozole for postmenopausal women with endocrine responsive tumours. This trial is being coordinated by the ANZ BCTG and receives support from Novartis Pharmaceuticals Australia Pty Ltd.

5.1.3 Quality of Life and Cost Effectiveness. Quality of Life research and cost effectiveness research continues to be a major activity.

5.1.4 The Group enhanced its important clinical trials audit program this financial year (item

‘Institutional Audits’ in the statements) with the appointment of a Quality Assurance Officer (salary support provided by the Cancer Institute NSW). The aim of the audit program is to visit all ANZ BCTG participating hospitals, at least once every three years, and conduct an on-site audit of their clinical trials data and associated procedures. This important initiative ensures and maintains the high quality of our research data.

5.1.5 Doctor Frances Boyle became Chair of the Group’s Scientific Advisory Committee,

Professor Alan Coates, continues as Deputy-Chair. Doctor Jacquie Chirgwin was elected Chair of the Group’s Board of Directors following the departure of Doctor Raymond Snyder. Professor Alan Coates, continues as Vice-Chair of the Group’s Board of Directors.

5.1.6 Prof John F Forbes, a member of the ANZ Breast Cancer Trials Group Board of Directors

and Group Coordinator, is also a member of several international committees including but not limited to: the IBCSG Scientific Advisory Committee; the BCIRG Advisory Board; the BIG Council; the International Steering Committee for ATAC; the International Steering Committee for IBIS 1 and IBIS 2.

5.2 Education

In July 2005, the Group held its 27th Annual Scientific Meeting in Perth, Western Australia. The ASM was attended by 200 delegates and focused on breast cancer biology and interpretable, scientific data from breast cancer clinical trials for prevention, diagnosis and treatment.

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Members of the Group continued their extensive education activities, nationally and internationally, with presentations of scientific papers, guest lectures, and contributions to workshops. The ANZ BCTG remains Australia's major national source of important up to date research data and new breast cancer clinical trials protocols. The ANZ BCTG Consumer Advisory Panel (CAP) continued its role of community education and developing strategies to improve recruitment to breast cancer clinical trials. The ANZ BCTG also continued the IMPACT (IMproving Participation and Advocacy for Clinical Trials) Program. This initiative acknowledges women who have participated in ANZ BCTG studies. IMPACT aims encourage these women to increase awareness and understanding about breast cancer clinical trials, in their communities, by providing them with information about breast cancer research e.g. via regular IMPACT Newsletters. The IMPACT Program is supported by Avon.

5.3 Members of the Group have contributed numerous publications to scientific journals over

the past 12 months, and the total number of published papers now exceeds 500. 5.4 Highlights

Operational Achievements In September 2005, the ANZ BCTG implemented Operational Policies and Procedures (PnPs). These procedures encompass the main activities of the Group and they have considerably enhanced staff member education and awareness. All ANZ BCTG PnPs and supporting references and attachments are available to staff members via a secure local area network. In October 2005, the ANZ BCTG initiated an External review of its clinical trials and associated business management operations. The Review was undertaken by two external, reputable, experienced clinical trialists and its outcomes were very positive. The subsequent Review report has assisted the ANZ BCTG to further prioritise the requirements of its research and education programs. Research Achievements As new trials begin, other trials reach their accrual targets, progress into follow-up phase and become ready for analysis. To highlight some of the Group’s achievements in 2005/2006:

Completion of accrual: (i) ANZ 0101 (BIG 1-01/HERA) – an international, randomised, three-arm multi-centre comparison of 1 year and 2 years of Herceptin™, versus no Herceptin™ in women with HER2-positive primary breast cancer who have completed adjuvant chemotherapy. The last ANZ BCTG patient was entered in June 2005 and a total of 110 patients were recruited by ANZ BCTG institutions. (ii) ANZ 0001 - a phase III study evaluating whether simple daily oral chemotherapy with capecitabine is preferable to

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standard intermittent bolus chemotherapy with CMF in women with advanced breast cancer. The last patient was entered in July 2005 and a total of 325 patients were randomised by ANZ BCTG institutions. Publication: (i) In early 2005, first results of trial IBCSG 18/BIG 2-98 were presented at the European Breast Cancer Conference in St Gallen, Switzerland and subsequently published in the New England Journal of Medicine (NEJM 353: 2747-2757 2005). This important trial evaluated an aromatase inhibitor, letrozole, as adjuvant endocrine therapy for postmenopausal women with receptor (ER and/or PgR) positive tumours, and its objective was to compare letrozole with tamoxifen given as monotherapy and in sequential administration over a total treatment period of 5 years. A total of 6,194 women were recruited internationally, 667 of these women were accrued by ANZ BCTG institutions. (ii) In October 2005, the first analysis of trial ANZ 0101 (BIG 1-01/HERA) was published in the New England Journal of Medicine (NEJM 353:1659-1672 2005). The interim analysis showed that the addition of Herceptin™ to standard chemotherapy significantly reduced the risk of disease recurrence in women with early stage HER2-positive breast cancer by 46%. A total of 5,100 women were recruited to the trial from 480 sites in 39 countries. (iii) In December 2005, a poster on the ANZ 0201/TIBER study was presented at the San Antonio Breast Cancer conference by Dr Prue Francis on behalf of the ANZ BCTG. This study recruited 39 ER/PgR-positive and 27 ER and PgR-negative patients. A manuscript is currently in preparation.

5.5 The Group's operating division for increasing awareness and support for breast cancer

research is the Breast Cancer Institute of Australia (BCIA). This is a very important Group activity as total medical research funding remains substantially below the minimum levels required. The BCIA enables industry and the community to share in the Group's research activities and is an essential source of funding for our high priority research. The BCIA conducted four mail campaigns to existing donors and two ‘acquisition’ campaigns during the 2005/2006 financial year and The Australian Women’s Weekly again produced the “Australian Women’s Health Diary” on behalf of the BCIA. Other annual events continue to raise much needed funding and enhance the profile of our research program. For more information on the activities of the BCIA please refer to the BCIA section of these financial statements.

6. SIGNIFICANT CHANGES In the opinion of the directors there were no significant changes in the state of affairs of the company that occurred during the financial year.

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7. MATTERS SUBSEQUENT TO THE END OF THE FINANCIAL YEAR No other matter or circumstance has arisen since 31 March 2006 that has significantly affected or may significantly affect:

- the operations of the company; - the results of those operations; or - the company’s state of affairs.

8. DIRECTORS' BENEFITS During or since the end of the financial year no director of the company has received or become entitled to receive a benefit because of a contract made by the company with the Director, or with a firm of which the Director is a member, or with an entity in which the Director has a substantial financial interest.

9. AUDITOR’S INDEPENDENCE DECLARATION The auditor’s independence declaration for the year ended 31 March 2006 has been received and can be found on page 28 of the financial report. 10. MEETINGS OF DIRECTORS During the financial year, 6 meetings of directors were held. Attendances were: Director No. Eligible to Attend No. Attended Dr Jacquie H Chirgwin (Chair) 6 6 Dr Raymond D Snyder (Chair) (Retired 8/7/2005)

2 2

Prof Alan S Coates (Vice Chairman) 6 6 Prof John F Forbes (Secretary/Treasurer & Group Coordinator)

6 6

Dr Russell Basser 6 3 Dr Frances Boyle 6 6 Dr Ian D Campbell 6 6 Dr Geoffrey Lindeman 6 5 Prof R John Simes 6 5 Dr A Hamilton (Appointed 8/7/2005) 4 4

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11. INDEMNIFYING OFFICERS OR AUDITOR The company has paid insurance premiums to insure each of the directors against liabilities for the costs and expenses incurred by them in defending any legal proceedings arising out of their conduct while acting in the capacity of director of the company, other than conduct resulting in a willful breach of duty in relation to the company. Disclosure of the amount of the premium is prohibited by the insurance contract. 12. FUTURE DEVELOPMENTS The directors consider that there are no likely developments, which will significantly affect the operations of the company. Signed in accordance with a resolution of the directors.

ANZ BREAST CANCER TRIALS GROUP LIMITEDABN 64 051 369 496

INCOME STATEMENTFOR THE YEAR ENDED 31 MARCH 2006

2006 2005Notes $ $

Revenues from ordinary activities 3 6,394,717 5,683,894

Scientific and Administrative meetings expenses 282,346 641,460 IMPACT education program 81,368 84,287 BCIA expenses 1,412,873 1,343,066 Clinical trials protocol and per-patient expenses 1,345,420 1,163,982 Clinical trials program expenses 1,632,055 1,557,821 Other expenditure 66,489 39,515

4,820,550 4,830,131

Net surplus from ordinary activities 4 1,574,167 853,763

Total changes in equity 1,574,167 853,763

The accompanying notes form part of these financial statements

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ANZ BREAST CANCER TRIALS GROUP LIMITEDABN 64 051 369 496BALANCE SHEET

AS AT 31 MARCH 2006

2006 2005Notes $ $

CURRENT ASSETS

Cash assets 5 4,220,697 2,615,097 Receivables 6 966,637 973,239 Other financial assets 7 201,270 79,477

Total Current Assets 5,388,604 3,667,813

NON-CURRENT ASSETS

Property, plant and equipment 8 191,212 140,573

Total Non-Current Assets 191,212 140,573

TOTAL ASSETS 5,579,816 3,808,386

CURRENT LIABILITIES

Payables 9 670,674 473,411

Total Current Liabilities 670,674 473,411

TOTAL LIABILITIES 670,674 473,411

NET ASSETS 4,909,142 3,334,975

ACCUMULATED FUNDS

Accumulated funds 10 4,909,142 3,334,975

TOTAL ACCUMULATED FUNDS 4,909,142 3,334,975


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CASHFLOW STATEMENTFOR THE YEAR ENDED 31 MARCH 2006

2006 2005$ $

Inflow/ Inflow/Notes (Outflow) (Outflow)

CASH FLOWS FROM OPERATING ACTIVITIESReceipts from customers, donors and external funding 6,462,509 5,520,630 Interest received 97,290 88,868 Payments to suppliers and employees (4,837,723) (5,162,835)

Net cash provided by (used in) operating activities 14 1,722,076 446,663

CASH FLOWS FROM INVESTING ACTIVITIESPurchase of property, plant and equipment (116,476) (47,426)

Net cash provided by (used in) investing activities (116,476) (47,426)

Net inrease/(decrease) in cash held 1,605,600 399,237 Cash as at 1 April 2005 2,615,097 2,215,860

Cash as at 31 March 2006 5 4,220,697 2,615,097


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STATEMENT OF CHANGES IN EQUITYFOR THE YEAR ENDED 31 MARCH 2006

AccumulatedFunds Total

$ $

BALANCE AT 1 APRIL 2004 2,481,212 2,481,212

Surplus attributable to the organisation 853,763 853,763

BALANCE AT 31 MARCH 2005 3,334,975 3,334,975

Surplus attributable to the organisation 1,574,167 1,574,167

BALANCE AT 31 MARCH 2006 4,909,142 4,909,142


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NOTES TO AND FORMING PART OF THE FINANCIAL REPORT FOR THE YEAR ENDED 31 MARCH 2006

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The financial report is a general purpose financial report that has been prepared in accordance with Accounting Standards, Urgent Issues Group Consensus Views and other authoritative pronouncements of the Australian Accounting Standards Board and the Corporations Act 2001. ANZ Breast Cancer Trials Group Limited is a company limited by guarantee and, incorporated and domiciled in Australia. The financial report of ANZ Breast Cancer Trials Group Limited complies with all Australian equivalents to International Financial Reporting Standards (IFRS) in their entirety. The following is a summary of the material accounting policies adopted by the Company in the preparation of the financial report. The accounting policies have been consistently applied, unless otherwise stated. Basis of Preparation First-time Adoption of Australian Equivalents to International Financial Reporting Standards ANZ Breast Cancer Trials Group Limited has prepared financial statements in accordance with the Australian equivalents to International Financial Reporting Standards (IFRS) from 1 January 2005. In accordance with the requirements of AASB 1: First-time Adoption of Australian Equivalents to International Financial Reporting Standards, adjustments to the accounts resulting from the introduction of IFRS have been applied retrospectively to 2004 comparative figures, excluding cases where optional exemptions available under AASB 1 have been applied. These accounts are the first financial statements of ANZ Breast Cancer Trials Group Limited to be prepared in accordance with Australian equivalents to IFRS. The accounting policies set out below have been consistently applied to all years presented. Reconciliations of the transition from previous Australian GAAP to IFRS have been included in Note 2 to this report. Reporting Basis and Conventions The financial report has been prepared on an accruals basis and is based on historical costs modified by the revaluation of selected non-current assets, and financial assets and financial liabilities for which the fair value basis of accounting has been applied. Accounting Policies (a) Cash and cash equivalents Cash and cash equivalents include cash on hand, deposits at call, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less.

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1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont) (b) Property, Plant and Equipment Each class of property, plant and equipment are carried at cost or fair value less, where applicable, any accumulated depreciation. Plant and Equipment Plant and equipment are measured on the cost basis. The carrying amount of plant and equipment is reviewed annually by directors to ensure it is not in excess of the recoverable amount from these assets. The recoverable amount is assessed on the basis of the expected net cash flows, which will be received from the assets employment and subsequent disposal. The expected net cash flows have not been discounted to their net present values in determining recoverable amounts. The cost of fixed assets constructed within the economic entity includes the cost of materials, direct labour, borrowing costs and an appropriate proportion of fixed and variable overheads. Depreciation The depreciable amount of all fixed assets including building and capitalised lease assets, but excluding freehold land, is depreciated on a straight line basis over their useful lives to the economic entity commencing from the time that the asset is held ready for use. Leasehold improvements are depreciated over the shorter of either the unexpired period of the lease or the estimated useful lives of the improvements. The depreciation rates used for each class of depreciable assets are: Class of Fixed Asset Depreciation Rate Equipment 13-27% Professional Library 20% (c) Revenue Revenue from the sale of goods is recognised on the delivery of the goods to the customer. Interest revenue is recognised on a proportional basis taking into account the interest rates applicable to the financial assets. Revenue from the rendering of a service is recognised upon the delivery of the service to the customers. All revenue is stated net of the amount of goods and services tax (GST).

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1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont) (d) Income Tax An application for exemption from income tax under Section 50 of the Income Tax Assessment Act, 1997 has been granted. Therefore, no amounts have been provided for income tax. (e) Goods and Services Tax (GST) Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Tax Office (ATO). In these circumstances, the GST is recognised as part of the cost of acquisition of the asset or as part of an item of the expense. Receivables and Payables in the statement of financial position are shown inclusive of GST. (f) Impairment of Assets At each reporting date, the Company reviews the carrying values of its tangible and intangible assets to determine whether there is any indication that those assets have been impaired. If such an indication exists, the recoverable amount of the asset, being the higher of the asset’s fair value less costs to sell, and its value in use (being the depreciated replacement cost of the asset), is compared to the assets carrying value. Any excess of the assets carrying value over its recoverable amount is expensed to the income statement. Impairment testing is performed annually for intangible assets with indefinite lives. (g) Financial Instruments Recognition Financial instruments are initially measured at cost on trade date, which includes transaction costs, when the related contractual rights or obligations exist.


NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 MARCH 2006

2006 2005$ $

2 FIRST-TIME ADOPTION OF AUSTRALIAN EQUIVALENTS TO IFRS (AIFRS)

3 REVENUE

Operating activities:

Scientific Meetings 190,374 497,064 Donations and Fundraising 3,550,901 3,290,066 Trial and Pharmaceutical income 2,007,826 1,518,642 Other income 484,899 291,695 Interest received 160,717 86,427

Total revenue 6,394,717 5,683,894

4 SURPLUS/(DEFICIT) FROM ORDINARY ACTIVITIES

Surplus/(deficit) from ordinary activities has been determined after the following expenses:

Depreciation Other Assets 27,350 21,659 Computers 34,272 53,907 Printers 4,215 8,284 Library - 62

65,837 83,911

The adoption of Australian Equivalents to International Financial Reporting Standards has not resulted in any material differences to results previously reported under former Australian Accounting Standards.

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2006 2005$ $

5 CASH

ANZ BCTG ABCD Breakfast 3,219 2,977 ANZ Cheque Account 39,883 142,681 BCIA Term Deposit 236,086 232,972 BCIA Accelerator Account 2,470,118 1,583,683 BCIA Chip In Account 200,918 120,028 BCIA Foundation Account 823,376 199,773 BCIA Race for Research Chq Acc 158,154 59,154 BCIA Term Deposit 288,693 273,579 Petty Cash 250 250

4,220,697 2,615,097

6 RECEIVABLES

CURRENTTrade debtors 883,861 972,093 GST Receivable 82,776 1,146

966,637 973,239

7 OTHER FINANCIAL ASSETS

CURRENTPrepayments 201,270 79,477

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2006 2005$ $

8 PROPERTY, PLANT AND EQUIPMENT

Equipment - at cost 546,752 430,278 Less: Accumulated depreciation (355,540) (289,705)

191,212 140,573

Professional Library - at cost 4,806 4,806 Less: Accumulated depreciation (4,806) (4,806)

- -

Total plant and equipment 191,212 140,573

(a) Movements in Carrying Amounts

Movement in the carrying amounts for each class of property, plant and equipmentbetween the beginning and the end of the current financial year

ProfessionalEquipment Library

At Cost At Cost Total$ $ $

Balance at the beginning of the year 140,573 - 140,573 Additions 116,476 - 116,476 Assets written off - - - Depreciation Expense (65,837) - (65,837)

Carrying amount at the end of the year 191,212 - 191,212

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2006 2005$ $

9 PAYABLES

CURRENTTrade creditors 498,021 348,411 Income in Advance 47,653 - Non interest bearing liability 125,000 125,000

670,674 473,411

10 ACCUMULATED FUNDS

Accumulated funds at the beginning of the financial year 3,334,975 2,481,212 Net surplus/(deficit) 1,574,167 853,763

Accumulated funds at the end of the financial year 4,909,142 3,334,975

11 RELATED PARTY DISCLOSURES

There were no related party transactions during the period.

12 REMUNERATION AND RETIREMENT BENEFITS

13 LIMITATION OF MEMBER'S LIABILITY

During or since the end of the financial year, no Director of the company has received, or become entitled to receive, a benefit because of a contract made by the company with the Director, or with a firm of which the Director is a member, or with an entity in which the Director has a substantial financial interest.

The company is limited by guarantee and in accordance with Memorandum of Association, the liability of members, in the event of the company being wound up, would not exceed $10 per member.

22



2006 2005$ $

14 STATEMENT OF CASH FLOWS

Reconciliation of cash flows from Operationswith surplus/(deficit) from ordinary activities:

Surplus/(deficit) from ordinary activities 1,574,167 853,763

Non-Cash flows in surplus from ordinary activities: Depreciation 65,837 83,911 Loss on sale of assets - 3,816

Changes in assets and liabilities: Decrease (Increase) in receivables 6,602 (280,145) Decrease (Increase) in other financial assets (121,793) (63) Increase (Decrease) in payables 197,263 (214,619)

1,722,076 446,663

15 REMUNERATION OF AUDITORS

Amounts received by the auditor for the auditof ANZ Breast Cancer Trials Group Limited

Auditing or reviewing the financial report 8,450 8,000 Taxation advice - 150 Review of AIFRS transition 1,950 -

Total 10,400 8,150

16 EVENTS SUBSEQUENT TO BALANCE DATE

There were no events subsequent to reporting date having material impact on the financial report.

23



17 CAPITAL AND OTHER COMMITTED FUNDS

18 KEY MANAGEMENT PERSONNEL COMPENSATION

Key Management Personnel

No income was paid or payable to any directors of the Company.

The names of Company directors who have held office during the financial year are:

DirectorJ H Chirgwin (Chair)R D Snyder (Chair) (Retired 8/7/2005)A S Coates (Vice Chair)J F Forbes (Secretary/Treasurer and Group Co-ordinator)R BasserF BoyleI D CampbellG Lindeman R J SimesA Hamilton (Appointed 8/7/2005)

The Company does not have any expenditure commitments which have not been recognised in the financial statements as liabilities.

24

ANZ BREAST CANCER TRIALS GROUP LIMITEDABN: 64 051 369 496


19 FINANCIAL INSTRUMENTS

(a) Derivative Financial Instruments

The economic entity currently has no derivative financial instruments.

(b) Interest Rate Risk

The economic entity's exposure to interest rate risk, which is the risk that a financial instrument'svalue will fluctuate as a result of changes in market interest rates, and the effective weightedaverage interest rates on classes of financial liabilities, is as follows:

WeightedAverage Floating NonEffective Interest Within 1 to 5 InterestInterest Rate 1 Year Years Bearing Total

Rate $ $ $ $ $

Cash on hand N/A - - - 250 250 Cash at bank 4.15% 1,225,550 2,994,897 - - 4,220,447 Receivables N/A - - - 883,861 883,861

Total Financial Assets 1,225,550 2,994,897 - 884,111 5,104,558

Payables N/A - - - 498,021 498,021 Non interest bearing loan N/A - - - 125,000 125,000

Total Financial Liabilities - - - 623,021 623,021

Fixed Interest RateMaturing

25

ANZ BREAST CANCER TRIALS GROUP LIMITEDABN: 64 051 369 496


19 FINANCIAL INSTRUMENTS (cont'd)

Comparative information for the year ended 31 March 2005:

WeightedAverage Floating NonEffective Interest Within 1 to 5 InterestInterest Rate 1 Year Years Bearing Total

Rate $ $ $ $ $

Cash on hand N/A - - - 250 250 Cash at bank 4.20% 524,613 2,090,234 - - 2,614,847 Receivables N/A - - - 972,093 972,093

Total Financial Assets 524,613 2,090,234 - 972,343 3,587,190

Payables N/A - - - 473,411 473,411 Non interest bearing loan N/A - - - 125,000 125,000

Total Financial Liabilities - - - 598,411 598,411

(c) Credit Risk

The maximum exposure to credit risk, excluding the value of any collateral or other security, atbalance date to recognised financial assets is the carrying amount, net of any provisions fordoubtful debts, as disclosed in the balance sheet and notes to the financial statements.

The economic entity does not have any material credit risk exposure to any single debtor or groupof debtors under financial instruments entered into by the economic entity.

(d) Net Fair Values

Financial assets and liabilities included in the Balance Sheet are carried at amounts thatapproximate net fair value.

20 COMPANY DETAILS

The registered office and principal place of business of the company is:

Operations Office NBN Telethon Mater Institute 82 Platt StreetWaratah NSW 2298

Fixed Interest RateMaturing

26

27



DIRECTOR’S DECLARATION The directors of the company declare that:- 1. The financial statements and notes, as set out on pages 12 to 26 are in accordance with the

Corporations Act 2001:

(a) comply with Accounting Standards and the Corporations Regulations 2001; and (b) give a true and fair view of the financial position as at 31 March 2006 and of the

performance for the year ended on that date of the company. 2. In the opinion of the directors there are reasonable grounds to believe that the company will be

able to pay its debts as and when they fall due.

This declaration is made in accordance with a resolution of the Board of Directors.


STATEMENT OF INCOME AND EXPENDITUREFOR THE YEAR ENDED 31 MARCH 2006

2006 2005$ $

INCOME

Annual Scientific Meeting (ASM)ASM Event Fees 177 3,675 ASM Meal Fees 1,280 1,489 Other 2,406 67,336 Registration 34,925 103,659 Sponsors and Trade Displays 151,586 320,905

Total Annual Scientific Meeting (ASM) 190,374 497,064

Donations & FundraisingAcquisition Mail Out 289,120 392,834 Avon 505,064 500,000 Chip in / Tee-Off Donations 75,444 59,338 Diary Sales 638,789 652,049 Diary Sponsorship 60,000 60,000 General Donations 202,145 153,539 Known Donor Mail Out 1,598,437 1,374,238 Mary Kay 33,361 20,241 Mother's Day 23,898 11,661 Race for Research 102,959 27,492 Trader Agreements 21,684 38,674

Total Donations & Fundraising 3,550,901 3,290,066

Other IncomeABCD Income 4,911 5,644 University of Newcastle 108,956 212,921 Bank Interest 160,717 86,427 Sundry Income 24,741 73,130 Hancock Foundation 209,091 - Bequests 137,200 -

Total Other Income 645,616 378,122

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2006 2005$ $

Trial and Pharmaceutical IncomeAstra Zeneca 71,793 252,264 Aventis 44,543 42,826 BCIRG Income 7,067 60,067 CRUK Income 8,670 - Eli Lilly 100,000 - IBCSG Income 1,010,044 587,097 Novartis 575,875 258,663 Pharmacia/Pfizer 53,361 57,879 Roche Products 136,341 259,846 Other Trial and Pharmaceutical Income 132 -

Total Trial and Pharmaceutical Income 2,007,826 1,518,642

TOTAL INCOME 6,394,717 5,683,894

EXPENSE

ABCD Expense 4,667 4,596 Anti Cancer Council of Victoria Data Management Support 24,919 38,071 Advertising and Promotion 21,789 29,232 Annual Report Printing 36,673 56,700

Annual Scientific MeetingASM Banqueting/ Venue 90,207 174,231 ASM External Event Expenses 1,064 355 ASM Guest Speaker Expense 44,843 126,824 ASM PCO Expenses - 226,273 ASM Travel & Accomodation 53,261 34,385

Total Annual Scientific Meeting 189,375 562,068

Bank Charges 18,209 17,661 BCIA Tee-Off Expenses 3,687 1,305 BCIA Diary Production and Writing 176,080 220,199 BCIA Mailing House 479,959 505,720 BCIA Race for Research Expenses 10,965 7,488 Cab Charge 13,309 16,819 Computer Expenses - Hardware 9,297 6,305 Computer Expenses - Software 11,642 8,686

32



2006 2005$ $

Data Management ReimbursmentsDMR IBCSG 10 - 2,800 DMR IBCSG 22 7,600 1,200 DMR (MA27) 6,400 - DMR (ANZ 0201- TIBER) - 60,368 DMR (ANZ0001) 13,000 77,435 DMR (ATAC) (2,765) 4,850 DMR (STP) 23,920 - DMR (IBIS) 98,498 172,081 DMR (Letrozole) 615,900 325,500 DMR (Taxotere) 202,400 139,200 DMR 21-99 (Menstrual) - 1,250 DMR (BCIRG 007) 9,750 66,300 DMR ANZ 0301 (BCIRG 103) - 15,000 DMR (IBCSG Pathology) 30,854 15,500 DMR (HABITS) 720 -

Total Data Management Reimbursments 1,006,277 881,484

Depreciation 65,837 83,911 Educational Activities 203 - Employee Salaries (TUNRA) 1,509,824 1,335,814 Employee Salaries (University) 22,533 20,638 Equipment - Non Asset 1,975 858 Freight 9,600 19,892 Impact Education Program 81,368 84,287 Institutional Audits 10,469 2,964 Insurance 22,488 18,716 IT Consultant Fees 170,770 157,260 Labour Hire 65,742 69,553 Loss on Sale of Fixed Assets - 3,816 Photocopying 3,074 4,097 Postage 57,166 46,317 Premises Management 2,965 2,559 Premises Rental 77,399 69,475 Printing & Stationery 67,625 65,011 Professional Fees - Accounting 3,310 4,335 Professional Fees - Audit 5,000 4,350 Professional Fees - ASIC 200 - Professional Fees - Legal Fees 69,027 37,725

33



2006 2005$ $

Protocol AdministrationProtocol IBCSG 22 (chemo maint) - 98 Protocol IBIS 2 18,088 1,561 Protocol ANZ 0001 (Cape) 49,411 63,391 Protocol ANZ 0101 (HERA) - 98 Protocol ANZ 0102 (BCIRG 007) 1,991 23,617 Protocol ANZ 0201 (TIBER) 5,175 16,403 Protocol ANZ 92P1 (IBIS) 9,642 4,737 Protocol ANZ 9801 (ATAC) 4,859 17,244 Protocol ANZ 9802 (Exem) 5,774 10,799 Protocol ATLAS - 196 Protocol IBCSG 8-14 - 98 Protocol IBCSG 18 (Letrozole) 67 4,282 Protocol IBCSG 15-95 - 98 Protocol IBCSG 20 (Taxotere) 39,139 36,083 Protocol ANZ 0502 (Gem) 434 - Protocol ANZ 0301 (BCIRG 103) - 912 Protocol IBCSG 24-26 (STP) 5,673 7,488 Protocl IBCSG 30-04 (MA27) 1,091 - Protocol LATER 43,318 -

Total Protocol Administration 184,662 187,105

Repairs & Maintenance 2,990 5,473

Scientific and Admin MeetingsAdministrative Meetings 8,213 12,901 Board Meetings 14,158 11,945 CAP Meetings & Expenses 3,700 (80) CEC Meetings - - Scientific Meetings 68,760 55,658

Total Scientfic and Admin Meetings 94,831 80,424

Staff Education and Training 20,859 12,097 Statistical Centre - NHMRC 154,481 95,393 Subscription/Membership 25,688 11,579 Sundry Expense 59,519 23,737 Telephone 22,585 24,667 Utilities - Electricity 1,512 1,744

Total Expense 4,820,550 4,830,131

NET SURPLUS/(DEFICIT) 1,574,167 853,763

34

35



DIRECTOR’S DECLARATION IN RESPECT OF FUNDRAISING ACTIVITIES

I, Professor John Forbes, on behalf of ANZ Breast Cancer Trials Group Limited declare that in my opinion : (a) The accounts give a true and fair view of all income and expenditure of ANZ Breast Cancer

Trials Group Limited with respect to fundraising appeals; and (b) The provisions of the Charitable Fundraising Act 1991 and the regulations under that Act

and the conditions attached to the fundraising registration have been complied with, along with applicable legislation in all other States.

(c) The internal controls exercised by ANZ Breast Cancer Trials Group Limited are appropriate

and effective in accounting for all income received.

36



Breast Cancer Institute of Australia (BCIA)

NET SURPLUS/(DEFICIT) The Breast Cancer Institute of Australia (BCIA) was established in 1994 as an operating division of the ANZ Breast Cancer Trials Group Ltd (ANZ BCTG), it is also a registered trademark. The BCIA was created to raise funds to support the breast cancer research programmes of the ANZ BCTG and to increase awareness and education of breast cancer clinical trials. The BCIA financial sub-statements are presented to clearly summarise the income and associated costs of BCIA activities. This financial year: (i) The BCIA has continued to develop its long term relationship with regular donors, this has included streamlining of donation processing times and developing new and cost effective ways for donors to interact with the BCIA e.g. the ability to donate online via the BCIA website which will be launched in 2006. (ii) For the first time, the BCIA was the beneficiary of two bequests. Please note - according to the NSW Charitable Fundraising Act of 1991, bequest income and expenses are not considered fundraising income (as this may distort actual costs of fundraising) and are therefore included in overall BCIA income and expenses figures only (see Other Income section of Financial Statements). The BCIA recorded a substantial surplus this financial year, which is entirely directed to the ANZ BCTG research program. Many unfunded, important parts of the program benefit from this surplus, for example: Currently unfunded trials (whole or in part), including IBCSG studies, ATLAS, ANZ 0001,

plus new studies start-up and the ANZ BCTG clinical trial audit program (refer to the Directors Report for more information);

Payments to over 80 institutions for local data management staff participating in unfunded ANZ BCTG clinical trials research;

Communication and other unfunded central clinical trial coordination expenses; Dissemination of scientific results, from clinical trials, to medical professionals and the wider

community; Scientific meetings and workshops to foster interchange between laboratory and clinical

scientists for planning of timely new research initiatives; Funds raised by the BCIA also support the essential infrastructure requirements of the ANZ BCTG, areas that are not currently funded by competitive grants or industry partnerships, for example: Salaries for key research and administrative personnel Equipment maintenance and upgrades Premises rental and management Staff education and training Community education initiatives

In addition, the surplus is used to maintain several current significant areas of the ANZ BCTG research and education program. For example:

37



Breast Cancer Institute of Australia (BCIA) (cont.)

ANZ BCTG Statistical Centre

The ANZ BCTG Statistical Centre is located at the NHMRC Clinical Trials Centre, University of Sydney. It is responsible for the statistical design and analysis of the breast cancer clinical trials conducted by the ANZ BCTG. This work includes the primary analysis of main trial results, monitoring of each trial's progress to ensure patient safety, and development of new methods to improve the interpretation of trial results. The ANZ BCTG Statistical Centre also functions as the randomisation centre responsible for allocating treatments to women who participate in ANZ BCTG clinical trials. Achievements of the Statistical Centre this financial year include: (i) Development of the ANZ 0502 study protocol (see 5.1.2, Review of Operations for more information on this study) which is now activated for recruitment; (ii) Completion of the TIBER study protocol (see 5.1.1, Review of Operations for more information on this study); (iii) Commencement of Quality of Life analyses for the ANZ 0001 study (see 5.1.1, Review of Operations for more information on this study); (iv) Development of novel statistical methods which have both a direct and indirect impact on the activities of the ANZ BCTG. These methods include; the development of novel randomisation schemes (‘dynamic balancing’), calculation of sample sizes for factorial trial designs in the presence of interactions, and enhancement of web-based randomisation/registration and drug supply systems. 2005/2006 FUNDRAISING APPEALS 1. The BCIA conducted six mail campaigns during the 2005/2006 financial year, four appeals to

existing donors and two appeals to acquire new donors. These campaigns were very successful and account for half of the total BCIA fundraising income.

2. The Australian Women’s Weekly again produced The Australian Women’s Health Diary on

behalf of the BCIA. This product is sold via newsagents, Woolworths, diary sponsors, and the BCIA. It contains information on women’s health issues and has been very well supported by the community.

3. Avon cosmetics reaffirmed their support for the research programmes of the ANZ BCTG by

donating $500,000 again this year to the Group. These funds are crucial to the Group’s research program and will be directed to supporting current clinical trials, establishing new un-funded breast cancer studies and the IMPACT Program (see the Directors Report for more details).

4. The ‘Race for Research’ was held again this financial year. This is a local fun run held at the

Newcastle foreshore and in October 2005 it attracted more than 2000 entrants – a record for the event so far. There were two major changes to the 2005 Race for Research: (i) It was chosen to be part of the unique ‘Avon Walk Around the World for Breast Cancer Campaign’. The Avon campaign celebrated the long-term commitment of Avon to the breast cancer cause and involved joining more than 40 countries together via fun runs and walks during the month of October (international breast cancer awareness month). The BCIA was

38



Breast Cancer Institute of Australia (BCIA) (cont.)

delighted to have the ‘Race for Research’ chosen as the Australian leg of this worldwide campaign and Avon generously matched each dollar raised from the Race this year (to a maximum of US$25,000). (ii) The sponsorship challenge was introduced, whereby participants were encouraged to seek sponsorship for their completion of the Race. This initiative raised an additional $15,000. These two changes significantly increased the income shown in the financial statements for this event.

5. The BCIA again conducted the ‘Tee-Off for Breast Cancer’ event. This initiative involves golf

days being held in over 150 golf clubs around the country. This initiative has increased its net income by 25% since last financial year.

6. Mary Kay Cosmetics continued to donate the proceeds from the ‘warm fuzzies’ campaign to

the BCIA. 7. Residual income is generated via general public donations and other corporate support.


STATEMENT OF BCIA INCOME AND EXPENDITUREFOR THE YEAR ENDED 31 MARCH 2006

2006 2005$ $

INCOME

Donations & FundraisingDonations 2,113,600 1,920,787 Corporate/Trader 560,109 561,400 Fundraising & Special Events 877,193 807,879

Total Donations & Fundraising 3,550,901 3,290,066

Other IncomeBank Interest 136,935 60,642 Bequests 137,200 - Sundry Income 55 158

Total Other Income 274,190 60,800

Total Income 3,825,090 3,350,866

39


STATEMENT OF BCIA INCOME AND EXPENDITUREFOR THE YEAR ENDED 31 MARCH 2006

2006 2005$ $

EXPENSE

ABCD Expense - - Advertising and Promotion 21,089 26,041 Bank Charges 16,069 14,588 BCIA Fundraising Costs (Other) - - BCIA Tee-Off Expenses 3,687 1,305 BCIA Diary Production and Writing 176,080 220,199 BCIA Mailing House 512,712 505,720 BCIA Race for Research Expenses 14,308 7,488 Cab Charge 340 337 Computer Expenses - Hardware 2,007 1,011 Computer Expenses - Software 7,796 6,140 Employee Salaries (TUNRA) 408,000 323,607 Equipment - Non Asset 1,610 473 Freight 4,603 12,461 Insurance - - IT Consultant Fees 19,590 7,350 Labour Hire 45,916 34,400 Photocopying 121 112 Postage 58,616 39,595 Premises Management 2,965 2,559 Premises Rental 32,251 45,583 Printing & Stationery 57,591 55,896 Professional Fees - Legal Fees 5,435 19,506 Repairs & Maintenance 2,435 518 Scientific and Admin Meetings 1,860 1,032 Staff Education and Training 2,563 3,313 Subscription/Library (No Asset) 1,152 773 Sundry Expense 1,994 176 Telephone 10,136 11,214 Utilities - Electricity 1,948 1,669

Total Expense 1,412,873 1,343,066

NET SURPLUS 2,412,218 2,007,800

Note: This report displays all BCIA income and expenditure. This includes but is not limited to fundraising activities. All BCIA income and expense figures shown have been recognised in the full financial statements of the ANZ BCTG.

40

2005 2004$ $

DONATIONSIncome 2,113,600 1,920,787 Expenses 798,033 726,560

Net Income 1,315,566 1,194,227

CORPORATE/TRADERIncome 560,109 561,400 Expenses 33,255 30,215

Net Income 526,853 531,185

FUNDRAISING & SPECIAL EVENTSIncome 877,193 807,879 Expense 287,035 311,207

Net Income 590,157 496,672

Total Income 3,550,901 3,290,066 Total Expenses 1,118,324 1,067,982

Net Income from BCIA Fundraising Activities 2,432,577 2,222,084


BCIA FUNDRAISING SUB-STATEMENTFOR THE YEAR ENDED 31 MARCH 2006

Note:This report displays BCIA fundraising income and expenditure. All BCIA fundraising income and expenditure figures shown have been recognised in the statement of BCIA Income and Expenditure and the full financial statements of the ANZ BCTG.

41

2005 2004$ $


BCIA FUNDRAISING SUB-STATEMENTFOR THE YEAR ENDED 31 MARCH 2006

COMPARATIVE FIGURES AND RATIOS - BCIA FUNDRAISING

(a)1,118,324 1,067,982 3,550,901 3,290,066

Ratio 31% 32%

(b)2,432,577 2,222,084 3,550,901 3,290,066

Ratio 69% 68%

(c)294,549 275,084

3,825,090 3,350,866

Ratio 8% 8%

(d) Total Surplus (BCIA)/Total Gross Income (BCIA) 2,412,218 2,007,800 3,825,090 3,350,866

Ratio 63% 60%

Recurrent Administrative Costs/Total Gross Income (BCIA)

Net Surplus from Fundraising/Gross Income from Fundraising

Total Cost of Fundraising/Gross Income from Fundraising

42

2005$

INCOME

IBSCG 20/BIG 2-98 NHMRC Project Grant 37,750 IBCSG 24-26/STP NHMRC Project Grant 85,750 IBIS 2 NHMRC Project Grant 454,395

TOTAL INCOME 577,895

Stationery 9,634 Software 6,867 IBIS 2 drug management expenses 5,686 ANZ BCTG Statistical Centre 66,700 ANZ BCTG University Salaries + Oncosts 192,732 ANZ BCTG TUNRA Salaries + Oncosts 272,269

553,888

SURPLUS 24,007

TOTAL EXPENDITURE

EXPENDITURE


UNAUDITED SUPPLEMENTARY STATEMENTGRANT FUNDS ADMINISTERED BY THE UNIVERSITY OF NEWCASTLE

NHMRC RESEARCH GRANTSFOR THE YEAR ENDED 31 DECEMBER 2005

TOTAL NHMRC PROJECT GRANTS RECEIVED

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financial reports 2006 | breast cancer trials

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