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2024-03-31-accounts

British Thyroid Foundation

Charity Number 1006391, SC046037

Trustees’ Annual Report & Financial Statements for the year ended 31st March 2024

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Charity accounts preparation & independent examination service

British thyroid Foundation

(Charity Number 1006391, SC046037)

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a Index Page
rT Report of the Trustees 1
a Independent Examiner’s Report 18
. Statement of Financial Activities 19
= Balance Sheet 20
a statement of Cash flows 21
we Notes to the Accounts 22
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eeIe e British(Charity ThyroidNumber 1006391,FoundationSC046037) British Thyroid ———————— Foundation Report of the trustees for the year ended 3ist March 2024

Charity’s Full Name: British Thyroid Foundation Other names the charity is known by: BTF Charity’s principal address: Suite 12 One Sceptre House, Hornbeam Square North, Hornbeam Park, Harrogate, HG2 8PB

Names of the trustees who manage the charity

Trusteename F
Office		 :
(ifany)		 Dates acted if not
whole year		 .
Inwhat capacity
Mrs Greta Lyons F
Ghat		 Medical
Endocrine Research Nurse
Professor Kristien Boelaert Ex-Officio BTA Appoi
ppointed Sept 2023		 Medical
Professor of Endocrinology
ProfessorSimon Pearce Ex-Officio BTA Ste
pped down Sept 2023		 Medical
Professor of Endocrinology
Director of
;
Mr Jonathan Eaton		 Communications and
Digital Engagement
Chartered Management
Mrs Kasia Jones Accountant, Charity
professional (Patient)
Medical
Professor Marian Ludgate Professor Emerita in
Molecular Endocrinology
: Mr Paul Madgwick
5		 Appointed Nov 2023 Chartered Occupational
Safety and Health
professional (Patient)
MrsAnna Reavell Vice Chair (patient) Surgeon
Ms Rachael Taylor Appointed Nov2023 feeueno
Professional
‘
Mr Gavin Troughton		 ,
Appointed Nov 2023		 Advisor to Healthcare
Technology Systems
Medical
Ms Alison Waghorn Ex-Officio BAETS Appointed Nov 2023 Consultant Endocrine
Surgeon

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eI e e British(Charity ThyroidNumber 1006391,FoundationSC046037) British Thyroid SS Foundation

Report of the trustees for the year ended 31st March 2024

ce

Trustee name .
Office		 .
(ifany)		 Dates acted if not
wholeyear		 :
Inwhat capacity
Medical
Mr Radu Mihai Ex-Officio BAETS Stepped down Nov 2023 Consultant Endocrine
Surgeon
.
.
Dr Nicola Zammitt		 :
Appointed Nov 2023		 Medical
Consultant Endocrinologist
Mrs Nancy Prest Stepped down Mar 2024 HR Consultant
DrCatherinePeters SteppeddownMar2024 PaediatricEndocrinologist

Name of chief executive(s) or senior staff members

Cheryl McMullan - CEO - Operations Julia Priestley - CEO - Development

Names and addresses of advisors

Type of advisor Name Address Independent Examiner SAMA Wood ACMA, 2 Galligap Lane, Osbaldwick, York, YO10 3NR

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bElee British(Charity ThyroidNumber 1006391,FoundationSC046037) British Thyroid SS Foundation

Report of the trustees for the year ended 3ist March 2024

Objectives

The Trust is established:

a) to promote the relief and treatment of persons suffering from thyroid disorders and related conditions or diseases and to provide advice, information and support both for such persons, their families and the public generally, and

b) to promote and support research, and to disseminate for the public benefit the results of any such research into the causes and possible cures (whether partial or complete) and the possible prevention of the said disorders and diseases. Extract from the BTF Trust Deed, Oct 1991

Volunteers

Patient volunteers are a lifeline to our work. They provide peer support as patient phone contacts, act as moderators in our online support groups and as local group coordinators. They also represent the patient voice in our projects and on our Board of Trustees, as well as supporting our office operations.

Healthcare professionals and researchers also generously contribute their knowledge and time both as trustees and as medical advisors. This ensures our resources are evidence-based and reflect current medical practice.

Thank you to all our volunteers for their significant contribution to our work.

Working in partnership

We work in close partnership with the British Thyroid Association (BTA) and the British Association of Endocrine and Thyroid Surgeons (BAETS).

We are affiliated members of the Society for Endocrinology and the European Society of Endocrinology.

Tribute to BTF patron, Joe Plater

We were deeply saddened to learn that our patron, Joe Plater, died at the end of May 2023.

Joe was diagnosed with follicular thyroid cancer in 2016 and lived with stage 4 thyroid cancer over the past few years. He used his platform as a live streamer to viog about his cancer journey. Joe was a committed supporter of our work and thanks to his incredible fundraising efforts we established the ‘Joe Plater BTF Thyroid Cancer Research Award’ in 2021. This helped to fund a study looking at new drugs to re-sensitise the type of cancer Joe had to radioiodine treatment.

We are only sorry that these treatments did not come soon enough for Joe but, due to his efforts, researchers can continue this work to improve patient outcomes. It was a privilege to count Joe as one of our patrons. ,

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Reorn _ British(Charity ThyroidNumber 1006391, Foundation$C046037) British Thyroid ——X—X—Ss—Ss—s—ae Foundation Report of the trustees for the year ended 31st March 2024 ene Structure, governance andmanagement ss—(i—sSS

Description of the charity’s trusts

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Type of governing document
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How the charity is constituted

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Trust Deed dated 28 October 1991
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Trust

Trustee selection methods including Recent trustees have been appointed following an open details of any constitutional provisions application and interview process. Previously they were e.g. election to post or name of any nominated and appointed by the Trustees. person or body entitled to appoint one or more trustees

Additional Governance Information

We are pleased to present the Trustees’ Annual Report and Financial Statement for 1 April 2023 to 31 March 2024. The Trustees confirm that both comply with the current statutory requirements of the charity’s governing document. The Board of Trustees comprises patients, healthcare professionals and business professionals.

Our trustees met twice online over the year, with one face-to-face meeting. Finance and Staffing and Ethics, Research and Projects Sub-committee meetings were held online. Trustees were required to declare any conflicts of interest at the start of each meeting. The trustees have taken appropriate steps to be compliant with GDPR. The BTF Privacy Policy is available on the charity’s website. The charity is registered with the Fundraising Regulator and the Information Commissioner's Office.

Vision, Mission and Beliefs statement

A world where the best possible treatment and care is accessible to all people with thyroid disorders.

Mission

We are dedicated to providing people with the highest standard of support and information about : thyroid disorders based on the best current medical evidence and individual experiences.

Values and Beliefs

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British Thyroid

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Report of the trustees for the year ended 3ist March 2024

The year in review - empowering patients

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At the BTF we are dedicated to giving patients the information and support they need to better understand and manage their thyroid condition. This has never been more important in the face of overburdened NHS services and an online landscape of confusing health information.

Patients often feel they are not given enough information about their condition, especially at diagnosis. This year we continued our programme of online events giving patients the opportunity to hear from experts and put their questions to them. Over 2,700 patients also accessed our medical query service empowering them to discuss their concerns further with their own doctors.

Working with healthcare professionals to make them aware of our patient resources is also key to this. We were delighted to see so many hospitals using our free literature service to help their patients access our information and support resources. It was also encouraging to see so many primary healthcare professionals complete our new joint BTF/ British Thyroid Association (BTA) training modules to update their knowledge on managing thyroid conditions.

We have worked hard to increase the visibility of thyroid disease on behalf of patients; representing their voices on thyroid surgery and cancer at major endocrine conferences. We also represented thyroid patients as a stakeholder organisation in several research studies and National Institute for Health and Care Excellence (NICE) and Scottish Medicines Consortium (SMC) consultations.

Connecting with others can also be powerful for patients. We introduced a new online teen support group to help younger patients access support from their peers. This adds to our flourishing online patient forums that help validate patients’ experiences and make them feel less isolated.

We are determined that all communities can access information about their thyroid condition. That is why we have worked hard to improve our website and newsletter accessibility. This will continue to be : a priority over the coming year as we strive to offer the extra time, information and reassurance people deserve to live better with thyroid disease.

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Activities and outcomes

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It is unacceptable that some patients continue to be given very little information at diagnosis about
what is often a lifelong condition. We are committed to changing this by providing free-to-access
patient-friendly resources. We work with patients and medical professionals to ensure these reflect
patient experiences and the best available medical evidence.
Website
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Our website continues to be a ‘go to’ resource for people looking for information and support for their
thyroid condition. Site visitors can download literature, watch films, read patient stories and articles,
and find details of the peer support we offer. From autumn 2023 we began work on a website refresh
to improve the user journey. This was launched in Summer 2024.
Patient literature
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We received unprecedented demand for our hospital literature service. This free service helps patients receive information about their thyroid condition at diagnosis. It also lets them know how we can support them along their thyroid journey.

We worked alongside medical professionals and patients to update our leaflets about thyroid surgery, osteoporosis and psychological symptoms to reflect the latest best practice. We also worked as part of a group to provide a patient information sheet to accompany the consensus statement on the prescribing of liothyronine (T3) for hypothyroidism.

In response to patient feedback about the lack of information about poorly differentiated thyroid cancer we produced new patient resources on this rare thyroid cancer. These included a patient information * sheet and patient story. We would like to thank the British Thyroid Association (BTA) and the British Association of Endocrine and Thyroid Surgeons (BAETS) who regularly review our literature and endorse its content.

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Articles

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Our popular articles deep dive into aspects of living with thyroid disease. We worked with consultant endocrinologist, Prof Annice Mukherjee, to update our menopause article with the latest guidance. Together with our new patient case studies and webinar, our new menopause resources have been accessed over 40,000 times by women seeking to navigate thyroid disease and menopause in midlife.

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We published a series of interviews with healthcare professionals undertaking pioneering techniques, including microwave ablation and scarless surgery. We were pleased to be able to connect patients with hospitals offering these treatments in the UK.

We added an FAQ facility to our website to help people quickly find answers to their queries. We also expanded our series of Q&A fact sheets giving people easy-to-understand summaries of our ‘Meet the Experts webinars’ Q&A sessions.

Patient stories

Personal experiences can be powerful in helping others make sense of their symptoms. We are grateful to everyone who has shared their stories to support others and help people recognise symptoms and how to get them them checked.

sense of their symptoms. We are grateful to everyone who has Reading stories like this helps shared their stories to support others and help people recognise validate my own feelings ~ symptoms and how to get them them checked. through: my ‘ewn:Jaumey. © newsletter We invite people to become BTF members to support our work. In return, members receive regular e-bulletin updates, our Manythanksfor a great newsletterwith ‘BTF News’ newsletter twice a year plus priority access to our ea eeetoe ee e BTF Medical Query service and events. This revenue is vital for vo helping us continue to offer our services supporting people in the UK to live better with thyroid disease.

‘Members’ newsletter

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Peer support

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Living with a thyroid condition can be isolating. Symptoms may not be immediately obvious so it can
be hard for those around us to understand how thyroid disease can affect our wellbeing. We offer peer
support to help people connect with others who ‘get’ what it’s like and who can validate how they
might be feeling.
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Our volunteer phone contacts continued to offer invaluable support to anyone in need of it. Between them, they were here seven days a week to talk through problems or simply to listen.

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As thyroid conditions are rare in teenagers and young people it can be especially isolating. For this reason, we started an online teen support group. This allows young people to connect with others, support one another, and hear from medical professionals. Our group has also given participants the chance to share their feedback and suggestions for improving the support available for them. As a result of their feedback, we conducted a patient survey of under 25s information needs and are currently working on a film project. This will provide bite-sized, relatable information to help this age group live better with their thyroid condition.

Our Facebook forums continued to grow and nurture a supportive community of over 5,000 patients. Our Facebook forums offer support for:

Our Edinburgh support group also continues to offer the chance for regular social contact with others living with a thyroid condition. ;

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British Thyroid Foundation

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Report of the trustees for the year ended 3ist March 2024

Improving patient knowledge

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Pressures on the NHS have resulted in more people struggling to find information and support for their thyroid condition. Over the year, we continued to offer patients access to experts to empower them to better understand and manage their condition. This also helps equip patients with the right questions to discuss with their own doctors where needed.

‘Meet the Experts’ webinars

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Our ‘Meet the Experts’ webinars continued to be hugely popular with patients and trainee health professionals alike. Over 600 people watched our webinars live. All our webinars are made available to view on our YouTube channel and our entire library of webinar recordings was viewed over 59,000 times over the period.

We select the webinar themes based on patient feedback given after each webinar. Over the year, we invited healthcare professionals and researchers to share their insights on:

Patients tell us they appreciate the opportunity to put their questions to our expert speakers.

Medical query service

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Where people have specific questions, they can contact our medical query answering service or phone
our helpline. These services support people with issues they may be struggling with, but do not always
merit a GP appointment. We refer more advanced queries to the medical advisors we work alongside.
They provide evidence-based resources for patients to discuss with their GP. Last year, we assisted
people with queries on over 2,700 occasions.
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Medicines and research updates

It can often be difficult to navigate the wealth of information about F ‘ ‘ : : : thyroid disease circulating online. We provide a reference hub of 2&2‘ 4 level| reallyof was detail very- impressedB huge:thankby you theTor all the latest guidelines and statements to help both patients and that. —~ primary healthcare professionals access these easily.

Over the past year, we added the joint British Thyroid Association (BTA)/Society for Endocrinology consensus statement on the use of liothyronine (T3) in hypothyroidism to these. We produced a patient leaflet to help people interpret the information in the statement, and to answer the frequently asked questions.

We also shared new guidance to reduce confusion surrounding the low-iodine diet that many thyroid cancer patients are asked to follow before radioiodine treatment.

Our presence across multiple social media platforms, and our regular member and supporter e-updates, helped us reach a growing number of people from the thyroid community with these important messages.

Opportunities for patient participation

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Thanks to our close collaboration with medical professionals and researchers we let the thyroid community know about recruitment to the following clinical trials:

We also regularly connected patients with studies by external researchers. These included co-designing and disseminating a survey for the Scottish Thyroid Cancer Network, and an eye movement study from the University of Sheffield.

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Report of the trustees for the year ended 3ist March 2024 iia Representing the patient voice

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Too often patients feel their experiences go unheard. We are committed to changing this by acting as a voice for these concerns. This year, we invited patients to share their experiences of thyroid surgery and thyroid cancer through online questionnaires. Sadly, this revealed that far too many people had not received the care and support they should have had.

We shared this feedback from 800+ patients with audiences at The British Association of Endocrine Surgeons’ (BAETS) Annual Meeting and the British Endocrine Society (BES) conference respectively. The healthcare professionals acknowledged that this feedback improves their understanding of patient experiences and highlights the importance of signposting them to our information and support. We continue to share these patient concerns through our involvement in the Getting it Right First Time (GIRFT) project to reduce waiting times and improve endocrine services across the UK.

We were disappointed to read that thyroid disease was not mentioned in the draft updated NICE guideline on menopause. After consulting with patients, we submitted our comments to this consultation to share our joint concerns. We were also a stakeholder organisation in the NICE/Scottish Medicines Consortium appraisal of new drugs for thyroid cancer.

Reaching new audiences

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Everyone should be able to access information about their thyroid health in a format that is right for ‘them. So we continued to look at ways to widen access to our resources over the year. We introduced a new accessibility feature to our website. This allows different view options, including large-font, dyslexia-friendly, colour contrast and a screen reader. We have also introduced different view options for our electronic member newsletter to overcome any accessibility obstacles.

We updated our translated leaflets in Arabic, Mandarin, Polish and Urdu to reflect updates made to our patient leaflets. We also contributed patient and medical professionals’ feedback to the RNIB’s Thyroid Eye Disease (TED) factsheet.

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Report of the trustees for the year ended 31st March 2024

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Supporting; research
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| |Sume for thy r oidep patientsTIRES NTEa— FOf Dr Earn Gan, BTF Research Award winner 2023 ”
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Research into thyroid disease is grossly underfunded compared with other autoimmune diseases. As part of our ongoing commitment to support thyroid research, we offered a £35,000 Research Award in 2023. This was an increase from the £20,000 award made in previous years.

The Award winner was Dr Earn Gan, consultant endocrinologist, Newcastle. Dr Gan will use the Award to fund a three-year study investigating whether raised antibody levels in patients treated with Radioiodine (RAI) therapy influence the poor quality of life that many patients report post-treatment. This award was made possible thanks to the generous public response to our BTF Research Appeal, together with a grant from the Robert Luff Foundation.

Over the period, we also shared updates about previous research projects we have funded to improve treatments and outcomes for thyroid patients. These included updates on:

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Supporting healthcare professionals

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A major strand of our work is supporting healthcare professionals with evidence-based resources to manage their patients’ thyroid conditions. Pivotal to this is providing high-quality training resources. We introduced a series of free webinars on the MIMS learning platform as part of our ongoing partnership with the British Thyroid Association (BTA). We are delighted that 568 GPs completed these accredited Continuing Professional Development (CPD) modules to refresh and expand their knowledge on managing thyroid conditions.

Treating patients with persistent problems whilst on thyroid replacement therapy is a difficult area for many primary care professionals. Our ‘Managing hypothyroidism’ webinar discussed the new BTA/Society for Endocrinology (SfE) joint consensus statement on the use of liothyronine (T3) in hypothyroidism to give clearer guidance on this.

We also attended The Royal College of General Practitioners (RCGP) and British Society for Paediatric Endocrinology and Diabetes (BSPED) conferences to share our latest patient resources with trainees and healthcare professionals. The increase in orders to our free hospital literature service (37,000+ leaflets sent out) indicates our growing success in reaching healthcare professionals.

Raising awareness

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We contributed information and patient case studies for health features in the national print and broadcast media to increase awareness of thyroid conditions. In many cases, this resulted in people contacting us for more information about thyroid conditions.

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ae.1ee British(Charity ThyroidNumber 1006391,Foundation$C046037) British Thyroid ———eEeEeEee——e——— Foundation Report of the trustees for the year ended 31st March 2024 ce Financ Review = = es

Restricted and unrestricted grants

Grants and legacies are an increasingly important income stream for us. In 23/24 they allowed us to pilot new projects and contributed towards our core costs. We are grateful to the following organisations who supported us over the period:

Larger grants Argenx - £5,000 grant to develop resources to support people with thyroid eye disease.

Forrester Family Trust - £7,500 to support our overall work.

Robert Luff Foundation — £10,000 grant to support our BTF Research grant.

The National Lottery Community Fund - £19,480 grant for a film project for younger people.

Thistledown Trust - £1,000 grant to develop resources for children. Smaller grants ; Emily Weircroft Charitable Trust Ian Askew Charitable Trust

The Marsh Charitable Trust

British Thyroid Foundation (BTF) -— Fixed Reserves Policy 2024-2025

The charity maintains reserves that are at a level adequate to conduct its activities. Reviews of these reserves take place at trustee meetings (see annual accounts). The BTF continues to build up a reserve to cover projects and research grants payable now and in the future.

The charity is reliant on income from various sources, including membership, legacies, community fundraising and grants from trusts and foundations. Amounts received vary each year and none can be guaranteed and so cannot be fully relied on. For this reason the BTF holds funds as Fixed Reserves to be used in the event that annual income decreases. If this were the case, it is anticipated the charity would run at a loss of around £30,000 - £40,000 per financial year.

To address the funding deficit, we continue to invest in our fundraising activities, which include applying for grants and introducing new fundraising campaigns. We hope this will reduce the deficit and prevent us being reliant on uncertain income streams.

It is important to maintain reserves to protect the charity and its employees in the event that BTF is forced to close for any reason. Winding-up costs would include redundancy payments to staff, disposal of the leasehold property, refurbishment of property, disposal of all assets, accountancy and legal fees, taxes, insurance, and commitments to suppliers or service providers. There would also be the return of funds and allocated funds to benefactors or grant providers. It is prudent planning to reserve funds for this scenario. However, the security of an appropriate cash reserve, coupled with the BTF’s long-standing engagement with supporters and fundraisers, and our work to increase the visibility of the service we provide, will ensure BTF’s long-term future.

Reserves stand at £169,348 which is adequate to cover four months winding up costs as of 31st March 2024.

Approved by the Finance Committee “ Signed: Position: Board of Trustees - Chair Greta Lvons . Greta Lyons (Oct 14, 2024, 1:26pm) 14 Oct 2024 Greta Lyons 14

bEJ A British(Charity ThyroidNumber 1006391, FoundationSC046037) British Thyroid eee Saas Foundation

Report of the trustees for the year ended 3ist March 2024

British Thyroid Foundation Investment Policy February 2024

1. Introduction

1.1 The British Thyroid Foundation (BTF) is registered charity established by a Trust Deed dated 28 October 1991. The purpose of the charity is to provide information and support for people who are diagnosed with a thyroid disease. BTF does this by raising money to fund scientific research on treatments and to provide services and support to people affected by the disease.

1.2 BTF has annual income from fund raising, donations and legacy gifts. The amount of income received varies each year but there is usually a funding deficit of up to £40,000.

1.3 BTF has approximately £350,000 of reserves. Each year the Trustees of the BTF (the Trustees) will decide how to allocate reserves to one of the following three purposes:

1.4 When deciding how to allocate the BTF’s reserves, the Trustees should consider the financial stability of the charity and the plans it has for the year ahead. The reserves may be used to

1.5 The Charity’s reserve policy is to hold four months of Fixed Reserves.

1.6 The Trustees of the BTF are given powers to invest by the Trust Deed. Trustees have delegated investment decisions to the Finance Committee.

1.6 The Investment Policy Statement will be included in the BTF Trustees’ Annual Return.

2. Investment Objectives

2.1 The BTF seeks to produce the best financial return within the level of risk that is considered to be acceptable.

2.2 The invéstment objective for the Long Term Reserves is to generate a return in excess of inflation over the long term whilst generating an income to support the ongoing activities of the BTF.

2.3 The investment objective for the Short Term Reserves is to preserve the capital value with a minimum level of risk. Assets should be readily available to meet unanticipated cash flow requirements.

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Reee British(Charity ThyroidNumber 1006391,FoundationSC046037) British Thyroid —eoOS aa

Foundation

Report of the trustees for the year ended 3ist March 2024

i

3. Risk

3.1 Attitude to risk

The BTF is reliant on fundraising and donations for its activities. Investment assets are held as reserves.

The key risk to the Long Term Reserves is inflation, and the assets should be invested to mitigate this risk over the long term. The Trustees understand that this is likely to mean that investment will be concentrated in real assets and that the capital value will fluctuate.

The Short Term Reserves are held to provide financial security, and may be required at short notice. As such capital volatility cannot be tolerated and investment of these assets should be focused on minimising this.

3.2 Assets

The Charity’s assets can be invested widely and should be diversified by asset class and by security.

Asset classes could include cash, bonds, equities, property, hedge funds, structured products, private equity, commodities and any other asset that is deemed suitable for the Charity.

The Finance Committee are charged with agreeing a suitable asset allocation strategy for the reserves.

3.3. Currency

The base currency of the investment portfolio is Sterling.

Within the Long Term Reserves, investment may be made in non-Sterling assets, but should not exceed 50% of the total investment portfolio value. Hedging is permitted.

Short Term Reserves should be held in Sterling.

3.4 Credit

The Charity’s cash balances should be deposited with institutions with a minimum rating of A- or invested in a diversified money market fund.

4. Liquidity Requirements

4.1 Income from the Long Term Reserves will be used to fund the Charity’s activities.

4.2 Due to the nature of the reserves, the board wish to keep at least 90% of the Long Term Reserves in investments that can be realised within three months.

5. Time Horizon

5.1 The Charity has divided its reserves into those expected to be held for a long term time horizon and those that may be needed in the short term.

16

yo British Thyroid Foundation ee LS eee Le @ (Charity Number 1006391, SC046037) British Thyroid ee Foundation

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Report of the trustees for the year ended 31st March 2024
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6. Ethical Investment Policy

6.1 The BTF assets should be invested in line with its aims. The Trustees do not wish to adopt an exclusionary policy, but individual investments may be excluded if perceived to conflict with the Foundation’s purpose.

6.2 When reviewing this policy and the allocation of investment assets Trustees should consider the impact of any existing or potential investment on the reputation of the BTF. Any investment that may harm the public’s perception of the BTF should be avoided.

7. Management, Reporting and Monitoring

7.1 The BTF Finance Committee has responsibility for agreeing strategy and monitoring the investment assets. The committee will review financial updates about the investment assets at their regular meeting.

7.2 The BTF Finance Committee will make decisions about the best use of any all interest and

income earned from the investment assets.

7.3 Performance of the Long Term Reserves will be measured against inflation and agreed market benchmarks/of inflation plus 3% over the long term. The return of the Short Term Reserves will be monitored against benchmark cash rates. The level of capital volatility will be monitored to ensure the risk profile remains appropriate for the Charity.

7.4 The Finance Committee is to report to the full trustee board about the investment assets on at least an annual basis.

8. Approval and Review

’ This Investment Policy Statement was prepared by the Finance subcommittee of the BTF to provide a framework for the management of its reserves.

It will be reviewed on an annual basis to ensure continuing appropriateness.

Approved by the Board of Trustees.

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"Signed: (CN
Name: — Ssvin ugha 7" See
Position: Trustee
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Date: 11 Oct 2024

17

British Thyroid Foundation

(Charity Number 1006391, SC046037)

Independent examiner's report to the Trustees of British Thyroid Foundation ceae eoesaeeasen ane I report on the accounts of: British Thyroid Foundation For the year ended: 31st March 2024 Which are set out on pages 19-32

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts inaccordance with the requirements of the Charities Act 2011 (‘the Act’).

The charity’s trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) 2005 Act and the Charities Accounts (Scotland) Regulations 2006. The charity trustees consider that the audit requirement of Regulation 10(1) (d) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an audit opinion on the accounts.

In the course of my examination, no matter has come to my attention

  1. which gives me reasonable cause to believe that in any material respect the requirements: e to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and

  2. e to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulationshave not been met, or

  3. to which,.in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

FiWies. Karen Wood ACMA, CGMA Outsource independent examination service 2 Galligap Lane Osbaldwick York YO10 3NR

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14/10/2024
Date ‘
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| | | |

British Thyroid Foundation

(Charity Number 1006391, SC046037)

.

Statement of Financial Activities for the year ended:

31st March 2024

Note Unrestricted Restricted 2024 2023
funds funds Total Total
Income and endowments from: £ £ £ £
Donations and legacies 3.1 108,509 8,538 117,047 196,661
Charitable activities 3.2 8,365 35,798 44,163 19,007
Other trading activities 3.3 45,204 ° 45,204 18,563
Investments 34 930 - 930 1,776
Total income 3 163,008 44,336 207,344 236,007
Expenditure on: £ £ £ £
Raising funds 4.1 23,314 1,308 24,622 26,512
Charitable activities 4.2 201,674 7,262 208,936 214,662
Total expenditure 4 224,988 8,570 233,558 241,174
Net income/ (expenditure) (61,980) 35,766 (26,214) (5,167)
Gross transfers between funds = “ = =
Net movement in funds (61,980) 35,766 (26,214) (5,167)
Total funds brought forward 491,328 8,601 499,929 505,096
Totalfundscarriedforward 429,348 44,367 473,715 499,929

19

(Charity Number 1006391, SC046037)

British Thyroid Foundation

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|||||||||| |---|---|---|---|---|---|---|---|---| |Balance|Sheet|as|at:|.|31st|March|2024| |iec| |Note|2024|2023| |Fixed|assets|£|e| |Investments|7|260,000|269,806| |Total|fixed|assets|260,000|269,806| |Current|assets|£|£| |Cash|at|bank|and|in|hand|8|214,365|230,673| |Debtors|&|prepayments|9|-|-| |Stock|-|=| |Total|current|assets|214,365|230,673| |Current|liabilities:|amounts|falling|due| |within|one|year|£|£| |Creditors|and|accruals|10|(650)|(550)| |Net|current|assets|213,715|230,123| |Net|assets|473,715|499,929| |Funds|of the|Charity|11|z|E| |Unrestricted|Funds|(General)|429,348|491,328| |Restricted|Funds|44,367|8,601| |Total funds|carried|forward|11|473,715|499,929|

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The financial statements were approved by the trustees on:

And signed on their behalf by:

Crete Lvons

Name:

Trustee:

.

Greta Lyons

20

British Thyroid Foundation

(Charity Number 1006391, SC046037)

Statement of Cash Flows for the year ended: 31st March 2024
Total 2024 Total 2023
Cash flowsfrom operating activities £ £
Net income/(expenditure) fortheyear (26,214) (5,167)
Add: Depreciation for the year - -
Working capital changes
(Increase)/decrease in stock - 7
(Increase)/decrease in debtors . .
Increase/(decrease) in creditors 100 550
Net cash provided by/(used in) operating activities (26,114) (4,617)
Cash flows from investing activities
Purchase of fixed assets 260,000 -
Disposal of fixed assets (269,806) -
(9,806) -
Change in cash and cash equivalents in the year (16,308) (4,617)
Cash and cash equivalents at 1 April 2023 230,673 235,290
Cashandcashequivalentsat31March2024 214,365 230,673

31st March 2024

21

;

(Charity Number 1006391, SC046037)

British Thyroid Foundation

Notes to the accounts for the year ended:

3ist March 2024

1. Basis of preparation

1.1 Basis of accounting

The financial statements are prepared under the historical cost convention and the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charities SORP (FRS 102)).

1.2 Change of basis of accounting

The accounts were previously prepared on a receipts and payments basis.

1.3 Change to previous accounts

Changes to include accrual account adjustments have been made to the accounts for the previous year. This was adding an accrual of £550 for the independent examination and including the investment assets in the balance.

2. Accounting policies

Income and endowments

Recognition of income

These are included in the Statement of Financial Activities (SoFA) when:

.

Incoming resources with related expenditure

Where incoming resources have related expenditure, the incoming resources and related expenditure are reported gross in the SoFA.

Grants and donations

Grants and donations are only included in the SoFA when the charity has evidence of entitlement to the resources and receipt is probable.

Volunteer help

The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.

j

Investment income

This is included in the accounts when receivable.

22

British Thyroid Foundation

(Charity Number 1006391, SC046037)

Notes to the accounts for the year ended:

31st March 2024

Expenditure and Liabilities

Expenditure

Raising funds

Cost of raising funds comprise those costs associated with attracting voluntary income.

Charitable activities

Charitable activities expenditure comprises those costs incurred by the charity in the delivery of its activities and services. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Liability recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

Assets

Tangible fixed assets for use by the charity

These are capitalised if they can be used for more than one year and cost at least £2,500. They are valued at cost or, if gifted, at the value to the charity on receipt, less depreciation. ' Depreciation is provided at rates to write off the costs less estimated residual value of each asset over its expected useful life as follows

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Office Equipment 25% straight line basis
Project equipment 25% straight line basis
Computer equipment 25% straight line basis
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Fund accounting

Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Restricted funds are funds which can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor.

23

(Charity Number 1006391, SC046037)

:

British Thyroid Foundation

Notes to the accounts for the year ended:

31st March 2024

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |3.|Income|and|endowments| |Unrestricted|Restricted|2024|Unrestricted|Restricted|2023| |funds|funds|Total|funds|funds|Total| |3.1|Donations &|legacies|£|£|£|£|£|£| |Donations|22,917|-|22,917|26,409|-|26,409| |Legacies|4,688|8,538|13,226|77,863|=|77|863| |Gift|Aid|13,346|-|13,346|10,636|7|10,636| |Grants|8,409|-|8,409|15,370|-|15,370| |Subscriptions|59,149|-|59,149|66,383|-|66,383| |ennannn| |108,509|8,538|117,047|196,661|-|196,661| |i| |3.2|Charitable|activities|£|£|£|£|£|£| |Grants|-|35,798|35,798|#|12,765|12,765| |BTA|Administration|1,234|-|1,234|6,026|-|6,026| |Information|events|399|S|399|-|216|216| |BTA|Meeting|fees|5,821|=|5,821|=|-|-| |Children’s|conference|59|-|59|-|-|-| |Hospital|leaflets|852|-|852|-|-|-| |cn| |8,365|35,798|44,163|6,026|12,981|19,007| |i| |3.3|Other trading|activities|£|£|£|E|£|£| |Fundraising|&|sponsorship|42,343|z|42,343|15,424|-|15,424| |Sale|of Christmas|cards|2,319|-|2,319|3,139|-|3,139| |Sale|of|Merchandise|542|-|542|-|-|-| |a| |45,204|-|45,204|18,563|=|18,563| |annev|ven|rE|nTEEOrUE|NEE EE| |3.4|Investments|£|£|£|£|£|£| |Bank|interest|215|=|215|1,776|-|1,776| |Gain|in|revaluation|715|.|-|715|-|;|-| |930|-|930|1,776|=|1,776| |a| |Total|income|163,008|—|44,336|207,344|223,026|12,981|236,007| |SoS SEE|

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24

British Thyroid Foundation

(Charity Number 1006391, SC046037)

Notes to the accounts for the year ended:

3ist March 2024

4.
Expenditure
Unrestricted Restricted 2024 Unrestricted Restricted 2023
funds funds Total funds funds Total
4.1 Raising funds £ £ £ £ £ £
Public awareness & publicity 19,130 681 19,811 22,220 500 22,720
Fundraising costs 4,184 627 4,811 3,792 - 3,792
23,314 1,308 24,622 26,012 500 26,512
4.2 Charitable activities £ £ £ £ £ £
Salaries 141,640 2,166 143,806 134,501 1,681 136,182
Staff training & other costs 777 - 777 950 - 950
Premises costs 17,567 - 17,567 16,348 - 16,348
Office & computer costs 8,417 - 8,417 9,787 = 9,787
Insurance 835 - 835 791 - 791
Patient benefit 10,247 4,547 14,794 4,318 8,097 12,415
Nurse & research awards 10,000 s 10,000 25,712 - 25,712
Telephone & helpline 51 549 600 572 480 1,052
Payroll & administration
sasis		 1,416 1,416 2,111 7 2,111
Accountancy fees 740 - 740 1,140 - 1,140
Membership & subscriptions 35 - 35 35 - 35
Database
5		 2,067 Zi 2,067 - = S
Meeting costs & trustees
expenses		 810 _ 810 1,525 _ 1,525
Paypal & bank charges 442 7 442 404 = 404
Returned membership 809 - 809 - - -
BTA administration 5,821 - 5,821 6,210 - 6,210
201,674 7,262 208,936 204,404 10,258 214,662
Totalexpenditure 224,988 8,570 233,558 230,416 10,758 241,174

25

British Thyroid Foundation

(Charity Number 1006391, SC046037)

:

Notes to the accounts for the year ended: Notes to the accounts for the year ended: 31st March 2024 31st March 2024
5.
Expenses and fees		 2024 2023
5.1 Fees for examination of the accounts £ £
Independent Examiner’s fees for reporting on the accounts 650 550
6.
Staff costs and emoluments		 2024 2023
6.1 Staff costs £ £
Gross salaries 129,962 118,880
Employers National Insurance 6,644 9,920
Pension contributions 7,200 7,382
143,806 136,182
6.2 Average number of full time equivalent employees by department 2024 2023
Fundraising 0.45 0.61
Charitable activities 3.76 3.06
Governance 0.0 0.0
Other 0.0 0.0
Total 421
3.67
7.
Investment assets		 Investments at fair value Total
£ £
Carrying (fair)value at beginning of year 269,806 269,806
Sale of disposals (270,521) (270,521)
Purchase of additions 260,000 260,000
Dividends & interest - .
Add/(deduct): net gain/(loss) on revaluation 715 715
Carrying (fair) value at end of year 260,000 260,000
Comprising: .
Investments at fair value 260,000
.
260,000

26

British Thyroid Foundation

(Charity Number 1006391, SC046037)

Notes to the accounts for the year ended:

31ist March 2024

8. Cash at bank and in hand

.

Unrestricted Restricted Total Total
2024 2023
£ £ £ £
Lloyds bank account 78,048 44,367 122,415 124,763
RBS bank account 2,815 - 2,815 8,266
United trust 86,159 - 86,159 86,159
PayPal account 2,976 - 2,976 1,124
Virgin charity bank - - = 10,361
Total 169,998 44,367 214,365 230,673
9. Debtors and prepayments
2024 2023
Debtors and prepayments £ £
Trade debtors - -
Other debtors - 2
Prepayments and accrued income - -
Total - -
10. Creditors and accruals
° 2024 2023
Amounts falling duewithin oneyear £ £
Trade creditors = =
Deposits held - -
Accruals and deferred income 650 550
Tax and social security - i
Total 650 550

9. Debtors and prepayments

10. Creditors and accruals

27

British Thyroid Foundation

(Charity Number 1006391, SC046037)

Notes to the accounts for the year ended:

31st March 2024

11. Movement of funds

11.1 Movement of major funds

2024
Fund name		 Balance
b/fwd		 Incoming
resources		 Outgoing
resources		 Transfers Balance
c/fwd
£ £ £ £ £
Unrestricted funds (General)
General unrestricted funds 491,328 163,008 224,988 - 429,348
491,328 163,008 224,988 - 429,348
Restricted funds
Society for Endocrinology 1,074 - 1,074 - 7
The Hospital Saturday Fund 323 - 323 = -
James Tudor Foundation 2,715 - 2,715 - =
Edith Murphy Foundation 4,489 - 1,722 - 2,767
Barbara Sutcliffe = 8,538 - - 8,538
National Lottery Community Fund = 19,480 - - 19,480
Robert Luff Foundation for Research > 10,000 = - 10,000
Thistledown for childrens services 7 1,000 - - 1,000
SfE Travel Grant - 318 - = 56
Argenx forTED - 5,000 - - 2,526
: 8,601 44,336 8,570 - 44,367
Totalfunds 499,929 207,344 233,558 - 473,715

28

British Thyroid Foundation

(Charity Number 1006391, SC046037)

Notes to the accounts for the year ended:

3ist March 2024

2023 Balance Incoming Outgoing Transfers Balance
Fund name b/fwd resources resources c/fwd
£ £ £ £ E
Unrestricted funds (General)
General unrestricted funds 497,870 223,026 230,416 848 491,328
497,870 223,026 230,416 848 491,328
Restricted funds
Iodine Project 2,458 - - (2,458) 3
Society for Endocrinology - 1,616 542 - 1,074
The Hospital Saturday Fund - 2,000 1,677 - 323
James Tudor Foundation - 4,876 2,161 - 2,715
Psychological Resources 3,453 - 3,978 525 -
Edith Murphy Foundation - 4,489 7 - 4,489
National Lottery Awards for All 1,315 - 2,400 1,085 -
7,226 12,981 10,758 (848) 8,601
Totalfunds 505,096 236,007 241,174 - 499,929

Transfer of funds

' £525 and £1,085 have been transferred from unrestricted funds to contribute to these funds.

The Iodine project has been dormant for a number of years and the funders have agreed that the remaining balance of £2,458 can be transferred to unrestricted funds.

29

(Charity Number 1006391, SC046037)

British Thyroid Foundation

Notes to the accounts for the year ended:

31st March 2024

11.2 Details of Funds Held

Unrestricted Funds (General)

The General fund is unrestricted and available for the general purposes of the Organisation.

Restricted Funds

The restricted funds are only available for the purposes specified for each fund, which are:

Iodine Project

To ensure optimal iodine nutrition in all sectors of the UK population in order to avoid the adverse effects of iodine deficiency.

Society for Endocrinology

Contribution towards the cost of holding a children’s and parent/carers information event in Nottingham.

The Hospital Saturday Fund

Grant to support our free-to-access patient information service.

James Tudor Foundation

Grant towards the cost of our telephone helpline and medical query answering service.

Psychological Resources

Grant to develop support resources

Edith Murphy Foundation

_

Grant to support our children’s services, including the provision of literature and patient films.

National Lottery Awards for All

Grant to develop a website to support thyroid patients in managing their weight and wellbeing.

Barbara Sutcliffe

Legacy left for research.

National Lottery Community Fund Funding received to make patients films.

Robert Luff Foundation for Research

Grant towards Research award 2023.

Thistledown for children’s services

Grant to support our services for children and young people.

SfE Travel Grant

‘

Grant towards cost of travel.

Argenx for TED

,

Grant to support services for patients living with thyroid eye disease.

30

British Thyroid Foundation

(Charity Number 1006391, $C046037)

Notes to the accounts for the year ended:

31st March 2024

12. Net assets between funds

Unrestricted Restricted Total 2024
funds funds
Balances at 31st March 2024 £ £
Fixed assets 260,000 - 260,000
Current assets 169,998 44,367 214,365
Current liabilities (650) = (650)
429,348 44,367 473,715
Unrestricted Restricted Total 2023
funds funds
Balances at 31st March 2023 £ £
Fixed assets 269,806 - 269,806
Current assets 222,072 8,601 230,673
Current liabilities (550) 7 (550)
491,328 8,601 499,929

31