British Thyroid Foundation (Charity Number: 1006391, SC046037) Trustees Annual Report & Financial Statements for the year ended 31st March 2025 Charity accounts preparation & independent examination service British Thyroid Foundation (Charity Number: 1006391, SC046037) Contents Index Page Annual Report of the Trustees Independent Examiners Report 15 Statement of Financial Activities 17 Balance Sheet 18 Statement of Cash flows 19 Notes to the Accounts 20 Ilritish Thyroid Found•ti•n Trustees, Annual Report From: 1 April 2024 to 31 March 2025 Charity name: British Thyroid Foundation Another name charity is known by: BTF Registered charity number: 1006391. SC046037 Charity's principal address.. Suite 12, One Sceptre House Hombeam Square North Hornbeam Park Harrogate HG2 8PB British Thyroid Foundation Trustees Annual Report- 1 April 2024- 31 March 2025 rustee Name ffice Dates acted if not or whole year n what capacity Mrs Greta Lyons hair edical ndocrine Research Nurse Professor Kristien Boelaert Ex-officio BTA edical Professor of Endocrinology Mr Jonathan Eaton irector of Communications nd Digital Engagement Mrs Kasia Jones tepped down ctober 2024 hartered Management ccountant, Charity rofessional (Patient) Dr Harshini Katugampola ppointed August 024 edical onsultant paediatric ndocrinologist Professor Marian Ludgate cientific rofessor Emerita in olecular Endocrinology Mr Paul Madgwick hartered Occupational afety and Health rofessional (Patient) Mrs Anna Reavell ice Chair eterinary Surgeon (Patient) Ms Rachael Taylor Educational Professional (Patient) Mr Gavin Troughton reasurer dvisor to Healthcare echnology Systems Ms Alison Waghom ice Chair edical Ex-officio BAETS onsultant Endocrine urgeon Dr Nicola Zammitt edical onsultant Endocrinologist Name of chief executive(s) or senior staff members Julia Priestley - Chief Executive OffI￿r Cheryl Mcmullan - Chief Operations Officer Structure, Governance and Management Type of Governing Document: Trust Deed dated 28 October 1991 How the Charity is constituted" Trust Trustee Selection Method: Recent trustees have been appointed following an open application and interview process. Previously they were nominated and appointed by the Trustees. Additional Governance Inforniation We are pleased to present the Trustees. Annual Report and Financial Statement for 1 April 2024 to 31 March 2025. 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 three times online over the year, with one face-to-face meeting. Finance and Staffing, Fundraising and Communications, and Ethics, Research and Projects Subcommittee 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 Commissionerfs 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 cu￿ent medical evidence and individual experiences. Values and Beliets We must put the needs of members and people with thyroid disorders before any other consideration. We will provide a quality Servi￿ based on medical eviden￿ and individual experience which is accessible to everyone. We are committed to remaining open-minded and will do our best to encourage involvement and foster peer support. We believe in a culture of success and a hamionious and rewarding working environment where individuals and teams can flourish. We will demonstrate a professional approach to our work at all times. 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 B TF Trust Deed, Oct 1991 Volunteers Patient volunteers are a lifeline to our work. They provide peer support as patient telephone contacts, act as moderators in our online support groups and as local group coordinators. They also represent the patient Vol￿ in our projects and on our Board of Trustees, and support our office operations. Healthcare professionals and researchers also generously contribute their knowledge and time as trustees and as medical advisors. This ensures our resources are rooted in up-tO- date scien￿. Thank you to all our volunteers for their commitment to making a differen￿ to the UK thyroid community. 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. 66 You helped me untangle so much when I was diagnosed with thyroid cancer. 66 There's a minefield of information out there and It's hard to know where to turn. I'm go grateful to have found your organisation. 99 99 The year in review- equipping patients to better manage their thyroid health Being diagnosed with a thyroid condition can have a big impact on people's lives. So it is understandable that managing physical and psychological symptoms can be challenging at times. To help people navigate these challenges. this year we have PLrt a particular focus on supporting the thyroid community with practical guidan￿ for managing their thyroid conditions. Our new library of films and animations has been a particular highlight. These concise videos share insights from patients and healthcare professionals to address common patient concerns. We have seen huge levels of engagement with these, especially among young people on our social media channels. We have also relaunched our website with a refreshed, intuitive design. We have introduced more content guiding people on managing aspects of thyroid conditions. This comprises a new FAQ section and articles that deep dive into popular topics. These indude features on supplements and minerals, subdinical thyroid disease and managing hyperthyroidism. Giving handy, accessible information also extends to GPS and trainee healthcare professionals. We are delighted that so many primary healthcare professionals have now completed our joint BTFIBTA online training modules on the MIMS learning plafform. A record number of trainee- and primary healthcare professionals also attended our 'Meet the Experts, webinars and accessed our online resources to support them in managing their patients. thyroid conditions. It is an inescapable reality that many people have lengthy waits to see their doctor. When they do see them, some feel they do not have enough time to have all their thyroid questions answered. In the face of our resource-stretched NHS our purpose has never been more relevant.. To equip people to live better with thyroid conditions through infomiation, support and guidance rooted in patient experiences and scientific evidence. Providing resources 66 You have given me so much valuable, trusted and well-soureed information since my shock diagnosis. 66 My main source of information has been the BTF whom I have found invaluable. 99 99 The wealth of online information about thyroid conditions can be contradictory and confusing. We aim to provide patients with dear, trustworthy information based on the best available evidence. So we work with patients and healthcare professionals to ensure our resources reflect lived experiences and Upt￿date science. We also remain committed to making our reSoUr￿S available to as many people as possible. We do this by providing them free-of-charge and in formats that people can easily access and understand. Website People viewed our website almost million times 66 I have found the BTF website extremely useful Sn understandlng condition. to access information and support for their thyroid condition. 99 We relaunched our website in summer 2024 to make it easier to navigate and improve users, experiences. This included new resource hubs that support people to manage their thyroid condition at different stages. We also offer a dedicated area for healthcare professionals. This one-stop shop helps them quickly find training and information on thyroid conditions. The positive feedback we have received is reflected in the high average engagement rate (91 Ok) with our site content. Films and animations 66 So wish these films were available in back in the '80s when I was diagnosed. Well done BTF! 66 This 1$ $u¢h an informative video. Until now I've never been able to get a proper explanation of my underactive thyroid. 99 99 Thyroid conditions are rare in people under 25. This can lead to young patients struggling to find relatable information. Thanks to support from the National Lottery Community Fund we developed a series of animations. These bite-size videos engage younger audiences with clear, compelling facts about their thyroid condition. They are proving very popular among young people keen to learn more about the thyroid's vital role in our health. Over the year, we were out on location interviewing patients and doctors. This has resulted in over 100 new films which address frequently asked questions and provide practical tips on managing thyroid health. We are very grateful to all our interviewees for sharing such fantastic insights to support the thyroid community. Patient literature We supplied 33.000+ I￿llets We issued almost nnn alert cards free-of-charge to hospitals to support newly diagnosed patients. to help people recognise symptoms and seek medical help. 66 Your leaflets are extremely useful and high-quality. our resources are reassuring and informative. 99 99 Our patient literature provides factual information about thyroid conditions. It also signposts people to further sources of infomiation and support. This year we sent out over 33,000 leaflets and posters to hospitals. This free-of charge service helps ensure patients receive this evidence-based information, especially at diagnosis. All our literature is reviewed and endorsed by the British Thyroid Association (BTA) and the British Association of Endocrine and Thyroid Surgeons (BAETS) to ensure it reflects the latest evidence and clinical guidelines. This year we completed a review of our thyroid eye disease resources and updated our Guide to Thyroid Eye Disease and TED Early Vvaming Card to reflect the latest evidence. The guide is now in a larger font, consistent with best practice guidelines for creating resources for people with sight problems. Articles 11; of website v¢srtors 66 am so grateful for a reliable source of information about my condition. read our artides expk>rtrng thy￿Id conditK)ns in greater depth. Our articles are the most viewed pages on our website. Their popularity reflects people's appetite for in-depth information to help them manage their thyroid condition. This year, our focus has been on providing more news articles. These let people know about the latest treatments. guidelines and clinical trials. We were pleased to hear from patients who managed to get on clinical trials or access different treatments after reading about them on our newsfeed. Patient stories 66p ersonal accounts like this pick me up. I know I'm not alone. 66 Stories like this help validate how hard this disease can be. 99 It can sometimes feel that those around us do not understand what it is like to live with a thyroid condition. Thank you to everyone who shared their stories to validate others, concerns and reassure them they are not alone. Members, resources 66 Your magazine articles give me accurate information. Your information helps me understand my 66 99 diagnosis and treatm@nt much botter. 99 We invite people to become BTF members to re￿1ve exdusive benefits and support our work. Our members receive our 'BTF News, magazine twice a year, regular e-bulletins and have priority access to our BTF medical query answering servi￿. Our members, feedback and financial contributions make a vital difference to our work supporting the UK thyroid community. Peer support Our telephone volunteers were here days a week 66 Dlscusslng my varlous Issues wlth someone who underslands has helped me to pul things into perspective. to lend a listening ear and share experiences. 99 Sharing experiences wrth others can be powerful. It helps people know that others understand and that things will usually improve. Our volunteer phone contacts were available seven days a week to listen and share experiences with anyone in need of support. Almost Cnn people regularly shared their lived experiences through our online support forums. We connected 4 f) teens with their peers through our online teen support group meetings. 66 This is ong of the bgst, most supportive F•¢ebo¢k groups thert 1$. It kept me going through those initial weeks after diagnosis. 66 y son enjoyed the meeting. It's so important lor him to start to tske responsibility for his health. 99 Our closed Facebook groups are safe, supportive spaces where people can connect with their peers and learn about others, experiences. They continued to grow over the year and now have over 6,500 active members re￿iving and offering support for.. Hyperthyroidism Thyroid eye disease Thyroid cancer Parents and carers of children with thyroid conditions Our new online teen support group has given young people an opportunity to meet with other teenagers. Members can also leam more about their thyroid conditions from healthcare professionals. We were also pleased to involve some of them in reviewing our new teenage films. Our Edinburgh support group also met regularly, providing the opportunity for people to meet others living locally with a thyroid condition. Sharing knowledge and insights 66 The information you sent gives me a better insight into the available treatment oplions. 66 It is good to have Ihis informalion to work with. Hopefully I can see my GP very soon. 99 99 We continue to hear from many patients who either struggle to get an appointment with their doctor or face a long wait to see a specialist after being referred. Our patient webinars and medical query answering serrf1￿ help people with questions they may be struggling with. These seNices also equip patients with information and questions to discuss with their doctor, thereby helping them to get their most out of precious NHS appointments. Medical ue answerin servi We answered 2,50C queries to hclp pcoplc struggling wtlh thcir thyroid health. 66 Thank you to your medical expert for the very clear information around this issue. 99 A frustration shared by many is feeling they were not given enough information about their condition at diagnosis. If people have general questions that do not merit a GP appointment, they can contact our medical query answering service or phone us. We refer more detailed queries to the medical advisors we work alongside. They provide information for people to discuss with their doctor. In an age of chatbots and automated messages, people tell us they appreciate receiving a personalised reply from someone who understands. 'Meet the Ex erts, webinars Our webinar recordings were watched nearly 22.004 times 66 Thank you for all the information. It has been invaluable. 99 Our 'Meet the Experts, webinars provide an opportunity for patients and trainee healthcare professionals to hear from doctors, researchers and patients. Besides exploring themes in greater depth, our expert speakers answer patient questions in our popular Q&A sessions. Over the year, we held webinars on: Endocrine-disrupting chemicals and their effect on thyroid health Thyroid surgery: a patient and a surgeon's view Thyroid health: what makes good eviden All our webinars are available on our YouTube channel and have been watched over 22,000 times during the period. Medicines and research u ates 66 I have got a lot of useful informalion from the BTF. 66 I found the patient and surgeon really reassuring to lislen to. I feel much better prepared and less anxious now. 99 With doctors. appointments at a premium, many patients inevitably search online for more information about their thyroid condition. Knowing which online health information to trust is an increasing problem for many. Our online reference hub provides patients and GPS with the relevant guidelines and statements on diagnosing and managing thyroid conditions. Involving patients We facilitated patient involvement in 66 This has been a very good session. Thank you for involving me. 000 major research studies 99 The thyroid community is understandably keen to get involved in thyroid research. Through our very active Patient Panel. 50+ patients regularly share their eXperIen￿S and feedback to support research. Our close links with healthcare professionals and researchers helped us to connect patients with research teams. We were able to involve patients with the following Patient and Public Involvement and Engagement (PPIE) initiatives: Heart failure and T3 trial (HF-T3) - six members of our Patient Panel participated as PPIE representatives in a research study about a potential new treatment for heart failure. Rituximab in Graves, disease (RiGD-2) - four teenagers and young people are taking part in a focus group to advise the trial team in a major study looking at a new treatment for Graves, disease. Thyroid artery embolization - eight patients contributed to a focus group for a proposed pilot study into a new treatment for thyroid nodules. Representing patients We represented patients in studies 66 Thank you for all you do lo help us. I feel heard and validated. lo ensure their voices were heard. 99 Patients sometimes feel like no-one is listening to them. We are committed to amplifying their voices by sharing their exPerien￿S and cOn￿rnS with healthcare professionals and researchers. As a stakeholder in The National Institute for Health and Care Excellence (NICE) consultation on a new drug treatment for Thyroid Eye Disease (TED), we invited patients to share their eXperIen￿S of living with this condition. As a result, we could include the detailed responses of over 50 people in our submission to NICE. This will help NICE understand what this treatment might mean for people living with TED. We also shared patient feedback about surgery with the 'Further Faster Endocrinology Speciality, Group. This is part of the Getting It Right First Time (GIRFT) programme which aims to improve the quality of care in the NHS. We currently represent patients in 12 UK-based research projects looking at all aspects of thyroid disease. Our involvement will help ensure patient perspectives are considered at each stage. During the year, we were pleased to represent the patient perspective at several meetings, including events at the Royal Society of Medicine (Ilthat's new in Endocrinology and a Diabetes and Squint Forum) and the European Congress of Endocrinology in Stockholm. Supporting healthcare professionals nnnn GPS We sent NEWS completed our CPD training modules on managing thyroid conditions. 1 .500 healthcare professionals regular updates to support Ihem in managing their patients, thyroid health. is module is very informative. I have learnt new treatment options for TED. 66 Valuable information for practitioners. 99 Supporting primary healthcare professionals with training and reSoUr￿S can help patients receive better care. We introduced a dedicated area for healthcare professionals on our website where they can find evidence-based reSoUr￿S and training. We have continued to work with the British Thyroid Association (BTA) to provide free training webinars on the MIMS learning platforms. We are very encouraged that over 2,300 GPS have now completed these accredited Continuing Professional Development (CPD) modules to refresh and expand their knowledge on managing thyroid conditions. We also attended The Royal College of General Practitioners (RCGP}, British Society for Paediatric Endocrinology and Diabetes (BSPED), British Thyroid Association (BTA), British Association of Endocrine and Thyroid Surgeons (BAETS), Society for Endocrinology British Endocrine Societies annual cOnferen￿S to let trainees, researchers and healthcare professionals know about our reSoUr￿S and encourage them to signpost patients and families to us. Supporting research 66 The BTF Award Is 8bsolutety vbtsl lor e8rly Career researchers to brlng thelr own Independent research. Dr Vicki Smffh. Birmingham 66 Thanks again for your support. It's really got our research off Ihe groun(l. Prof Miles Levy Leicester Thyroid treatments have barely changed in 80 years. We are determined to change this by investing in much-needed and vital research. Through our BTF Research Award we help researchers to further their understanding of thyroid disease and advance treatments. Thanks to the generous response to our fundraising appeal, we are able to offer our BTF Research Award again in 2025. This will support UK-based researchers with £35,000 for vital thyroid research. Over the period, we also shared updates about the following research studies we have funded in recent years. 2019 {2) BTF Research Award investigating the effect of environmental chemicals and micronutrients in congenital hypothyroidism led by Prof Nadia Schoenmakers. 2021 Joe Plater Thyroid Cancer BTF Research Award - looking at new drug approaches which can re-sensitise certain forms of thyroid cancer to respond to radioactive iodine (1-131) ablation, Prof Chis Mccabe. 2022 Research Award investigating the use of circulating cell-free tumour-derived DNA (ctDNA) in the diagnosis and monitoring of thyroid cancer, Prof Miles Levy. 2023 Research Award - how people can get involved in a study that will look at whether continued inflammation levels in people treated with radioiodine therapy for hyperthyroidism affects their quality of life. This study is led by Dr Eam Gan. Raising awareness We ran We contributed to features awareness ¢8mpalgns to help people get the appropriate treatment and care. in thp. national mpdia helping lo raise awareness about thyroid conditions. We know that too many people are not receiving prompt diagnosis. This is partly due to a lack of awareness of signs and symptoms, and also because these can be mistaken for other conditions. We were pleased to contribute to six health features in the national media, helping to increase awareness of thyroid conditions and encouraging people to see their doctor if they are concemed. We are grateful to the patients and medical advisors who shared their experiences and knowledge for these features. We also ran several awareness campaigns throughout the year to put a spotlight on thyroid conditions.. International Thyroid Awareness Week Our 2023 online patient survey revealed a high level of dissatisfaction among patients who had undergone thyroid surgery. Nearly half of the 571 respondents told us they had not received adequate written information about the risks and benefits before undergoing thyroid surgery. We addressed these patient COn￿mS through a social media campaign during International Thyroid Awareness Week in May. Patients also had the opportunity to learn more at our thyroid surgery webinar with endocrine surgeon, Miss Alison INaghorn and patient, Paul Madgwick. European Honnone Day In April we joined in this European-wide campaign to create awareness of the key role hormones play in our health and to amplify the #BecauseHormonesMatter message. We spearheaded our awareness campaign with a webinar by Prof Elizabeth Pearce on 'endocrine-disrupting chemicals and their effect on thyroid function. Thyroid CancerAwareness Month During Septemberfs Thyroid Can￿rAWarenesS Month. we encouraged people to 'Check Their Neck, and visit their GP with any cOn￿rnS. We also shared patient stories and signposted to peer support netsvorks to support anyone on their thyroid cancer journey. Improving accessibility People used our online accessibility tool 3 2.0004 limes to view our website in the Tight fomiat for them. We believe everyone should be able to aC￿sS information about thyroid disease in a suitable format for them. People are increasingly using our accessibility tool on our website to help them view our website content. We have also updated our translated content so that all our leaflets are available in Arabic. Mandarin, Polish and Urdu. Restricted and unrestricted grants Competition for grants was particularly tough for charities last year and this was certainly our experience. Legacies played an increasingly important role in our income stream and we are very grateful to those who left a gift in their Will to support our work. We are also grateful to all the funders who supported us over the period. British Thyroid Foundation- Reserves Policy The British Thyroid Foundation (BTF) has the objectives to promote the relief and treatment of persons suffering from thyroid disorders and to promote, support and disseminate research in the area of thyroid disease The trustees of the BTF (the Trustees) consider the financial position of the charity and review the reserves policy as part of the annual planning cycle. The aim of this Reserves Policy is to balan￿ making the best use of funds raised to deliver its charitable objectives in the short te￿n. while maintaining the financial stability to be able to continue these activities in the future. The BTF is reliant on income from various sources, including membership, legacies, community fundraising and grants from trusts and foundations. In particular, amounts from legacies and grants can vary greatly each year, they are not guaranteed and so cannot be relied on. We continue to invest in our fundraising activities with the aim to build more sustainable and diverse income sources to help with financial stability. BTF operates a fair market value policy to ensure the charity is paid fairly for contributions to projects and partnerships. Delivering the quality of the patient support activities for the charity requires maintaining a small but highly experienced permanent staff. Substantially reducing expenditure when income is low would significantly impact the BTF'S ability to deliver the charitable objectives, and the charity runs at a loss in these circumstances. It is important to maintain resenies to protect the charity and its employees if BTF is forced to close for any reason. Winding-up costs would include redundancy payments to staff, termination of the lease of the rented offices, refurbishment of offi￿S, disposal of all assets, accountancy and legal fees, taxes, insuran￿, and commitments to suppliers or service providers. We estimate winding up costs would be approximately £82,949. Restricted funds The restricted funds as of 31 March 2025 stand at £31,744 which we have excluded from our resenies to carry out the projects for which they were intended. Designated Funds In addition to the restricted funds. the Trustees have designated a total of £128,000 to the following projects. Research grant: Every two years, the BTF awards a grant of £35,000 to a researcher working on investigating a relevant aspect of the understanding and treatment of thyroid disease. The research grant is payable over a period of three years. To cover outstanding grants that have already been awarded and grants which will be awarded in 2025 and 2027 we have designated a total of £45,000 for research funds. James Lind Alliance Project: An important part of promoting medical research for thyroid patients is to identify areas of priority. This helps inform potential researchers of unmet needs. as well as supporting justification of projects to research funding bodies. The James Lind Allian￿ (JLA) is an independent non-profit making initiative bringing patients, carers and clinicians together in Priority Setting Partnerships (PSPS). We have applied for a £25,000 grant towards the estimated costs of this project and have designated £22,000 to undertake a PSP with the JLA in the area of thyroid research. BTF JLA Research Award: Building on the outcomes and agreed priorities of the James Lind Alliance Project, and subject to the availability of opportunities for matched funding, we would like to designate an additional £35,000 to a new project that attempts to answer one of the agreed research priorities. BTF Guides update: A review and update of the BTF information leaflets to make them patient-friendly and accessible for people of all ages and abilities. This work will be oUtsour￿d to an agency with a variety of health-related comms expertise that includes a digital media strategy. The Trustees have designated £26,000 to this project. Taking these financial aspects into consideration, the charity aims to keep reserves at levels between £250.000 and £300,000. Reserves at the start of the financial year 1 April 2025 were £300,203. The security of an appropriate cash reserve coupled with the BTF'S long-standing engagement with supporters and fundraisers, and our work to increase visibility of the service we provide, will ensure BTF'S long-tem future. This policy will be reviewed annually by the Board of Trustees to ensure it remains relevant and effective in meeting the charity's needs. Approved by the Finance Committee Signed: 6..4. L 0rf5 Position: Board of Trustees - Chair Name: eF8￿[￿&1g 22, 2025. 10".39aml Date: 22 Sep 2025 14 ## I report on the accounts of: **British Thyroid Foundation (the Charity)** for the year ended: **31st March 2025** which are set out on pages to . ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in 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: Regulation 4 of the 2006 Accounts Regulations, and Regulation 9 of the 2006 Accounts Regulations have not been met, or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 1 I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the Trust as required by section 130 of the Act; or - 2 the accounts do not accord with those records 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. 12/09/2025 **Date:** | **Karen Wood (ACMA) Date:** Outsource independent examination service 2 Galligap Lane Osbaldwick York YO10 3NR 1 ## **British Thyroid Foundation** (Charity Number: 1006391, SC046037) ## **Statement of Financial Activities for the year ended: 31 March 2025** |**Note**
**Income and endowments from:**
Donations and legacies
3.1
Charitable activities
3.2
Other trading activities
3.3
Investments
3.4
**Total income**
**3**
**Expenditure on:**
Raising funds
4.1
Charitable activities
4.2
**Total expenditure**
**4**
**Net income/(expenditure)**
**Gross transfers between funds**
**Net movement in funds**
**Total funds brought forward**
**Total funds carried forward**|**Unrestricted**
**Restricted**
**Total**
**Total**
**funds**
**funds**
**2025**
**2024**
**£**
**£**
**£**
**£**
155,312
-
155,312
117,047
6,072
39,075
45,147
44,163
45,131
244
45,375
45,204
26,948
-
26,948
930
**233,463**
**39,319**
**272,782**
**207,344**
26,560
-
26,560
24,622
208,048
51,942
259,990
208,936
**234,608**
**51,942**
**286,550**
**233,558**
**(1,145)**
**(12,623)**
**(13,768 )**
**(26,214)**
-
0
-
-
**(1,145)**
**(12,623)**
**(13,768 )**
**(26,214)**
429,348
44,367
473,715
499,929
**428,203**
**31,744**
**459,947**
**473,715**| |---|---| 1 ## **British Thyroid Foundation** (Charity Number: 1006391, SC046037) ## **Balance Sheet as at: 31st March 2025** ||**Note**|**2025**|**2024**| |---|---|---|---| |**Fixed assets**||**£**|**£**| |Investments|**7**|-|260,000| |**Total fixed assets**||**-**|**260,000**| |**Current assets**|||| |Cash at bank and in hand|**8**|460,744|214,365| |Debtors & prepayments|**9**|-|-| |Stock||-|-| |**Total current assets**||**460,744**|**214,365**| |**Current liabilities: amounts falling due**|||| |**within one year**|||| |Creditors and accruals|**10**|(797)|(650)| |**Net current assets**||**459,947**|**213,715**| ||||| |**Net Assets**||**459,947**|**473,715**| |**Funds of the Charity**|**11**||| |Unrestricted Funds (General)||300,203|429,348| |Unrestricted Funds (Designated)||128,000|-| |Restricted Funds||31,744|44,367| |**Total Funds Carried Forward**|**11**|**459,947**|**473,715**| ## **The financial statements were approved by the trustees on:** **And signed on their behalf by:** 1 ## **British Thyroid Foundation** ## **Statement of Cash Flows for the year ended: 31st March 2025** |**Cash flows from operating activities**
**Net income/(expenditure) for the year**
**Add:**Depreciation for the year
**Working capital changes**
(Increase)/decrease in stock
(Increase)/decrease in debtors
Increase/(decrease) in creditors
**Cash flows from investing activities**
Purchase of fixed assets
Disposal of fixed assets
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at 1 April 2023
**Cash and cash equivalents at 31 March 2024**
**Net cash provided by/(used in) operating activities**|**Total**
**2025**
**£**
(13,768 )
-
-
-
147
**(13,621 )**
-
(260,000 )
**(260,000 )**
246,379
214,365
**460,744**|**Total**
**2024**
**£**
(26,214 )
-
-
-
100
**(26,114 )**
260,000
(269,806 )
**(9,806 )**
(16,308 )
230,673
**214,365**| |---|---|---| 1 ## **British Thyroid Foundation** (Charity Number: 1006391, SC046037) ## **Notes to the accounts for the year ended:** ## **31st March 2025** ## **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: - the charity becomes entitled to the resources; - receipt of the resources is probable; and - the monetary value can be measured with sufficient reliability. ## **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. ## **Investment income** This is included in the accounts when receivable. ## **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: Office equipment 25% straight line basis Project equipment 25% straight line basis Computer equipment 25% straight line basis ## **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. (D (7) (J) ¢J) m u) (N cri ¢ri ¢Ji - ¢￿￿¢￿)¢3) ¢J)(D￿￿- Cci (Ji (N (r) co £N￿LD o)0 OTSTr¢D (J) fo -¢Df Lr) w) (N In i ( Lr) Tr-G)O ¢o)co t5)￿¢D co - bri￿￿ (N Ic) U￿￿c0]U￿ T*OThJ T*(0￿0(0￿￿￿ OCO T*O)O) 0￿￿￿L￿￿o￿(OOID￿O i ￿¢3) Ttoc)I -￿tr￿￿J0 OCO TtrO)O) r*Ln*T*cNlOOO)oino¢(3)a)in in0￿¢ Lr)in￿￿1O)inCOsTrf￿O(fj OQLL)O)* ZS ZS fo￿t￿￿t￿￿É￿ocDo￿)o￿{￿)cF) oO￿Ttl￿n¢￿C0Gj￿￿j￿￿OCfj CO¢DO￿￿#[D￿¢uCo 0￿[D￿Tt O E (O ¢D CFJ ￿- Ucf)(nCiO CcLz￿CL<5￿￿J(LCÉ[D ## **5 Expenses & fees** No trustees received a remuneration for services rendered during the year, £646 was reimbersed for trustees' out of pocket expenses (2024: £634) |**5.1 Fees for ex**
Independent Examiner's fees for reporting on the accounts
**6 Staff costs and emoluments**
**6.1 Staff costs**
Gross salaries
Employers National Insurance
Pension contributions
Fundraising
Charitable activities
Governance
Other
Total
**6.2 Average number of full time equivalent employees by department**|**2025**
**£**
**650**
**2025**
**£**
134,867
6,682
8,802
**150,351**
**2025**
0.45
3.76
0.00
0.00
**4.21**|**2024**
**£**
**650**
**2024**| |---|---|---| |||**£**
129,962
6,644
7,200
**143,806**
**2024**
0.45
3.76
0.00
0.00
**4.21**| No employee received remuneration in excess of £60,000 (2024:Nil) ## **7 Investment assets** |Sale of disposals
Add/(deduct): net gain/(loss) on revaluation
Purchase of additions
Dividends & interest
**Carrying (fair) value at end of year**
Comprising:
Investments at fair value
Carrying (fair) value at beginning of year|investments
At fair value
£
260,000
(282,284 )
-
-
22,284
**-**|**Total**
£
260,000
(282,284 )
-
-
22,284
**-**
-
**-**| |---|---|---| |**8 Cash at bank and in hand**
Lloyds bank account
RBS bank account
United trust
**9 Debtors and prepayments**
**Debtors and prepayments**
Trade debtors
Other debtors
PayPal account
Flagstone
Prepayments and accrued income|**Unrestricted**
**£**
99,985
1,990
85,000
2,025
240,000
**429,000**|**Restricted**
**£**
31,744
-
-
-
-
**31,744**
**Total**|**Total 2025**
**£**
131,729
1,990
85,000
2,025
240,000
**460,744**
**2025**
**£**
-
-
-
**-**|**2024**
**£**
122,415
2,815
86,159
2,976
-
**214,365**
**2024**
**£**
-
-
-
**-**| |---|---|---|---|---| 2 |**10 Creditors and accruals**
**Amounts falling due within one year**
Deposits held
**Total**
Trade creditors
Accruals and deferred income
Tax and social security|**2025**
**£**
-
147
650
-
**797**|**2024**
**£**
-
-
650
-
**650**| |---|---|---| |**11 Movement of funds**
**11.1 Movement of major funds**
**2025**
Rare Thyroid Therapeutics
Argenx 2
Advanced Thyroid Cancer
Westfield Health - translation of leaflets
Society for Endocrinology - Medical query
Amgen -TED patient information event
**Total Funds**
Robert Luff Foundation for Research
Thistledown Trust
**Fund name**
**Restricted funds**
National Lottery Community Fund
SfE Travel Grant
Argenx
Barbara Sutcliffe
Edith Murphy Foundation
Reasearch grants
James Lind Alliance Award
James Lind Alliance Project
BTF Guides update
**Unrestricted funds (Designated )**
General unrestricted funds
**Unrestricted funds (General)**|**Balance**
**b/fwd**
429,348
-
-
-
-
**429,348**
2,767
8,538
19,480
10,000
1,000
56
2,526
-
-
-
-
-
-
**44,367**
**473,715**|**Incoming**
**resources**
233,463
-
-
-
-
**233,463**
-
-
-
-
-
-
-
3,000
2,425
244
2,500
750
30,400
**39,319**
**272,782**|**Outgoing**
**resources**
234,608
-
-
-
-
**234,608**
2,767
8,538
19,480
10,000
1,000
56
2,526
3,000
2,425
244
1,156
750
-
**51,942**
**286,550**|**Transfers**
(128,000)
45,000
22,000
35,000
26,000
**-**
-
-
-
-
-
-
-
-
-
-
-
-
-
**-**
**-**|**Balance**
**c/fwd**
300,203
45,000
22,000
35,000
26,000
**428,203**
-
-
-
-
-
-
-
-
-
-
1,344
-
30,400
**31,744**
**459,947**| |---|---|---|---|---|---| |**2024**
**Total Funds**
**Restricted funds**
**Unrestricted funds (General)**
**Fund name**
Robert Luff Foundation for Research
The Hospital Saturday Fund
James Tudor Foundation
Thistledown Trust
SfE Travel Grant
Argenx
Edith Murphy Foundation
Society for Endocrinology
General unrestricted funds
Barbara Sutcliffe
National Lottery Community Fund|**Balance**
**b/fwd**
491,328
**491,328**
1,074
323
2,715
4,489
-
-
-
-
-
-
**8,601**
**499,929**|**Incoming**
**resources**
163,008
**163,008**
-
-
-
-
8,538
19,480
10,000
1,000
318
5,000
**44,336**
**207,344**|**Outgoing**
**resources**
224,988
**224,988**
1,074
323
2,715
1,722
-
-
-
-
262
2,474
**8,570**
**233,558**|**Transfers**
-
**-**
-
-
-
-
-
-
-
-
-
-
**-**
**-**|**Balance**
**c/fwd**
429,348
**429,348**
-
-
-
2,767
8,538
19,480
10,000
1,000
56
2,526
**44,367**
**473,715**| |---|---|---|---|---|---| ## **Transfer of funds** Funds have been designated from general unrestricted funds for the projects described below. 2 ## **11.2 Details of Funds Held** ## **Unrestricted Funds (General)** The General fund is unrestricted and available for the general purposes of the Organisation. ## **Unrestricted Funds (Designated)** Research - Grants that have already been awarded and will be payable over the next 3 years James Lind Alliance Project James Lind Alliance Award BTF Guides Updates ## **Restricted Funds** The restricted funds are only available for the purposes specified for each fund, which are: ## **Edith Murphy Foundation** ## **Barbara Sutcliffe** Legacy for thyroid research. ## **National Lottery Community Fund** ## **Robert Luff Foundation for Research** For BTF Research Award 2023. ## **Thistledown Trust** For children's services ## **SfE Travel Grant** Grant towards cost of travel ## **Argenx** For thyroid eye disease (TED) patient resources ## **Rare Thyroid Therapeutics** For patient films on rare Resistance to Thyroid Hormone (RTH) beta ## **Argenx 2** For patient films on TED and the cost of UserWay accessibility widget for website. **Advanced Thyroid Cancer** For research into advanced thyroid cancer ## **Westfield Health - translation of leaflets** To translate BTF leaflets into four different languages **Society for Endocrinology - Medical query answering service** For a medical query answering service **Amgen -TED patient information event** To hold a TED information event ## **12 Net assets between funds** |**Net assets between funds**|||| |---|---|---|---| ||**Unrestricted**|**Restricted**|**Total**| ||**Funds**|**Funds**|**2025**| |**Balances at 31st March 2025**|**£**|**£**|**£**| |Fixed assets|-|-|-| |Current assets|429,000|31,744
460,744|460,744| |Current liabilities|(797 )|-|(797)| ||**428,203**|**31,744**
**459,947**|**459,947**| |**Balances at 31st March 2024**|**Unrestricted**
**Funds**
**£**|**Restricted**
**Funds**
**£**|**Total**
**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**|**473,715**| ## **The financial statements were approved by the trustees on:** ## **And signed on their behalf by:** **Trustee** 2