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← Royal Papworth Hospital Charity

2025-03-31-accounts

Annual Report and Accounts

2024/25

Royal Papworth’s Friends and Family Day, as part of the Cambridge Festival 2025,

Contents

Contents

Foreword from the Chair 3
1. Who we are 4
2. What we do 4
3. Royal Papworth Charity vision 2022-2027 5
4. How we fund our work, our achievements and performance 6
5. Risks 8
6. Celebrating the life of ‘enthusiastic and loving’ Vic 13
7. From heart transplant to running 10K in aid of our Charity 14
8. How we support Royal Papworth Hospital 15
9. 2024/25 Major project achievements 16
10. Financial Review 25
11. Legacy income 27
12. Community income 28
13. Fundraising heroes 29
14. Our Future plans 30
15. Reserves 31
16. Investments 32
17. Charity governance, structure and management arrangements 33
18. Members of the Trustee Board 34
19. Reference and administrative details 37
20. Wider networks and our community relationships 38
21. How to contact us and related parties 39
Thank you! 40

2

Foreword from the Chair

Welcome to the Royal Papworth Charity Annual Report and Accounts, where you can read about the impact your kind and generous donations have made to Royal Papworth Hospital patients and their loved ones alongside staff and volunteers. Donations that have had a transformative impact on enabling tomorrow’s medicine, today.

In my role as Chair, I continue to witness and admire the steadfast dedication of our Charity supporters. And with this in mind, I am proud to announce that you have helped us raise £1.7m this year, allowing us to award 283 grants to Royal Papworth Hospital. What a fabulous achievement! My grateful thanks to you all.

These grants support our 2022 -2027 strategic aims of staff education, prioritising our patients, investing in innovation and addressing the needs of the hospital.

We are supporting the Chief Nurse Fellowship programme, by funding the interns’ back fill of one day per week for the year. The successful applicants will develop clinical leadership, lead specific projects and develop research and quality improvement skills. The Patient Support Fund funded 320 nights of local accommodation to enable family members of patients to be by their loved one’s side in their time of need.

The Annual Report has further details on how we spend the money you help us raise, highlighting how our strategic priorities remain aligned with the hospital’s goals. This ensures every donation is directed towards making the most significant impact on the lives of our patients and staff.

Legacy giving continues to significantly contribute to the difference we are able to make and this year we received gifts totalling a generous £1.1m, reflecting the deep connection people continue to have with the hospital.

It has been another amazing year for community engagement. It never ceases to amaze me how our supporters dedicate their time, resources and skills to raise money in new and creative ways. £181,000 has been raised through a range of different supporter challenges and events. Cheered on by the charity, hundreds of you are crossing marathon finishing lines, completing 100 squats a day, getting busy baking, selling cakes and selflessly requesting charity donations in place of wedding gifts

This year, we had the highest number of #teamroyalpapworth runners at the Cambridge Half Marathon. Over £22,000 was raised by 48 runners!

Our community groups and corporate partners have played a significant role in championing our cause. North Bedfordshire Young Farmers Club held an Auction of Promises and raised over £16,000 for the Clinical Research Facility at the Heart and Lung Research Institute (HLRI).

Our unique partnership with Brick Prize Draws has gone from strength to strength, raising £11,250 for our charity. To date there have been 161 LEGO Prize Draw competition winners.

In 2025, our Charity will celebrate its 30th anniversary. For the past three decades we have supported projects such as the donation after circulatory death heart transplantation, the creation of reflective community spaces around the hospital, the funding of specialist staff like the psychological wellbeing practitioner to support staff wellbeing, not forgetting transformational equipment such as cardiac ultrasound machines and a new hybrid catheter laboratory.

This strategic growth will enable us to support Royal Papworth Hospital in delivering the highest standards of care and pioneering new treatments.

I feel confident and extremely grateful that with the kindness of you, our supporters, we will continue to achieve incredible results and make a positive impact on the lives of people with heart and lung disease.

Thank you, together we are Royal Papworth Charity.

Dr Jag Ahluwalia Chairman

3 Oo

1-2 . Who we are and what we do

1. Who we are

The Charity is governed by a Declaration of Trust dated 10 July 1995 (amended by a supplemental deed dated 14 May 2008 and amended 16 January 2018).

The Charity object set out in the governing document is “for any purpose or purposes relating to the National Health Service.”

Royal Papworth Charity is governed by a Corporate Trustee, Royal Papworth Hospital NHS Foundation Trust (Royal Papworth Hospital). The Board of Directors of Royal Papworth Hospital act on behalf of the Corporate Trustee through a Trustee Board.

1.2 Our Vision

The Trustee Board decided that Royal Papworth Charity’s vision and values were to be founded on ensuring that it puts patients and staff at the heart of everything we do.

Royal Papworth Charity is committed to raising vital funds to provide the best treatment, care, facilities, support and equipment for our patients, their families and our staff.

This report will provide you with information on what we do, what we have achieved and the impact your kind and generous donations have made to Royal Papworth Hospital. Donations that have had a transformative impact on enabling tomorrow’s medicine today.

2. What we do: our objectives and activities

This is accomplished by raising funds in a variety of ways including:

3 . Royal Papworth Charity vision 2022-2027

To support Royal Papworth Hospital NHS Foundation Trust as the UK’s leading centre of excellence for the treatment and diagnosis of cardiothoracic diseases, to bring tomorrow’s . treatments to today’s patients

The welfare of Royal Papworth patients and their family members remain a vital element of the Charity’s grant giving. This year we are pleased to report that the Patient Support Fund, which is available to families experiencing financial hardship, provided 320 nights of local accommodation for family members of patients to be nearby at their greatest time of need.

Royal Papworth Charity’s vision prioritises the need for funding today to realise the potential of tomorrow for the benefit of Royal Papworth’s patients now and in the future.

Underpinning our vision are core priority statements that align with Royal Papworth strategic goals. These are:

The Charity continues to adapt and respond to the staff needs of the hospital by funding education and development programmes that bring new insights and innovations to clinical roles that will in turn improve patient care.

Royal Papworth Hospital is internationally renowned for its excellence in research and innovation, and the Charity is proud to be able to support it in its achievements.

This year the Charity awarded 283 grants to the value of £1.3m to Royal Papworth Hospital. The grants supported the hospital’s strategic goals of offering a positive staff experience, delivering clinical excellence, achieving sustainability, sharing and educating and growing pathways with partners.

This year we continued to pump prime research projects across the hospital by providing £200,000 to fund innovative research projects. The research innovation grant call received the highest number of applications to date with both clinical and non-clinical projects being

Grants have been used to support the hospital in a variety of ways including purchase of medical equipment, selected to receive funding. patient support services, staff training, education and welfare and research initiatives.

Clinical Research Facility at the Victor Phillip Dahdaleh Heart and Lung Research Institute

4 . How we fund our work, our achievements and performance

Our year together in numbers

Value of grants committed to the hospital:

£1,300,000

Grants made to the hospital: 283

Night’s of free accommodation provided to patient’s relatives: 320

Clinical Research Facility: £500,000

Value of approved staff education requests: £261,500

Members of staff benefiting from staff education funding: 497

2 x Raizer chairs for lifting fallen patients: £7,000

Advanced Life Support Training equipment:

£8,600

Royal Papworth’s Friends and Family Day, as part of the Cambridge Festival 2025, was supported by the Charity:

500 attended

4 x venepuncture and cannulation arms: £8,800

Replacement of patient heart rate monitors: £1,400

Patient pamper sessions: 60 hours

Funds received for the year:

£1,700,000

Gifts received from Wills: £1,113,000

No. of lottery entries: 5,999 Retail income: £20,000 No. of packs of Christmas cards sold: 1,539 Income from community fundraising and events: £181,000

No. of retail customers: 788

Donation made from Brick Prize Draws competition: £11,250

Brick Prize Draw LEGO sets won: 140

Amount raised at Cambridge Half Marathon: £22,000

Cambridge Half Marathon runners: 48

Raised over the festive season: £24,000

No. of Puddles the Duck sold: 55

5 . Risks

Royal Papworth Charity has 29 open risks. Eleven risks have a Residual Risk Rating (RRR) of ‘High’ or above.

Risks are reviewed by our Charitable Funds Committee and Trustee Board quarterly to assess our plans to manage those risks and any factors which will affect the financial position of the Charity.

All Charity risks are graded in line with the national risk framework detailed below and mapped against the six main Trustee duties.

NHS Risk Guide Risk Count Mar 25
15-25 Extreme Risk 15-25 Extreme Risk 0
8-12 High Risk 8-12 High Risk 11
4-6 Moderate Risk 4-6 Moderate Risk 10
1-3 Low Risk 1-3 Low Risk 8
Closed Risk Closed Risk 0

Risk scoring = consequence x likelihood (C x L)

Likelihood Likelihood Likelihood Likelihood Likelihood
Likelihood score 1 2 3 4 5
Rare Unlikely Possible Likley Almost certain
5 Catastrophic 5 10 15 20 25
4 Major 4 8 12 16 20
3 Moderate 3 6 9 12 15
2 Minor 2 4 6 8 10
1 Negligible 1 2 3 4 5

The Essential Trustee - 6 Main Duties. Charity Commission CC3

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Ensure your
charity is carrying Act in your
out its purposes charity’s best
for the public interests
benefit
Comply with
your charity’s Act with
governing
responsible care
document and
and skill
the law
Manage your
charity’s resources
responsibly
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Trustee Core Duty Title Description Risk level
Accountable Regulatory reporting “If” the charity is constituted according to certain 4
requirements: Financial regulations,
and other reporting “then” financial and other reporting requirements will
requirements be dependent on this and may vary according
to funding arrangements. Failure to comply with
regulations could result in regulatory action,
reputational risk and there could be an impact on
funding.
Accountable Procedural and Systems “If” procedures and systems are not in place and 4
Documentation accurate
“then” there could be a lack of operational and
regulatory awareness and this may result in
actions being taken without proper authority or
legality.
Accountable Reporting to Trustees “If” reporting to Trustee Board is not compliant, 9
(accuracy, timeliness timely and comprehensive
and relevance) “then” inadequate information may result in poor
quality decision making and the failure of Trustee
Board to fulfil their control functions. This would
lead to the Trustee body becoming remote and ill
informed.
Accountable Our Community Hub “If” Royal Papworth Charity sends a mailing to 8
patient mailing c.58,000 patients,
“then” the Trust could receive an increased volume of
complaints about the contact made.
Best interest Competition from “If” there is severe competition from similar 12
similar organisations organisations
“then” there is a risk of reduced fundraising potential,
reduced public profile, loss of income from
trading activities and a subsequent loss of service
to beneficiaries.
Best interest High staff turnover “If” there is a high staff turnover 6
“then” this will result in a loss of experience and key
technical skills, as well as a lack of succession
planning. There will be increased recruitment
and training costs and increased lead times
for activities. There could be an impact on the
morale of remaining staff and their productivity
and service delivery.
Governing Conflicts of interest “If” there is a conflict of interest 6
document and “then” the Charity may be unable to pursue its own
the law interests and agenda because decisions may not
be based on relevant considerations.
"This"could impact the reputation of the charity
and result in long term financial and private
benefit.
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5 . Risks (continued)

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Trustee Core Duty Title Description Risk level
Governing Government policy “If” there are variations in the availability of contract 4
document and and grant funding, or if there is an impactive
the law tax regime on voluntary giving or if general
legislation or regulation impacts on charitable
activities undertaken,
“then” the role of the voluntary sector may change and
income and funding activities will decrease.
Governing Ethical Fundraising “If” fundraising is not undertaken ethically, 6
document and compliantly and legally or realises returns as a
the law consequence of not being ethical, compliant or
legal
“then” there may be a legal and reputational risk from
the campaign or method used. There may also
be a risk from the actions of any agents or
commercial fundraisers used who are not ethical
or legally compliant. This may result in fines and
loss of income.
Governing Compliance with data “If” there is a failure to comply with legislation and 4
document and legislation and charity regulations appropriate to the activities, size and
the law regulations appropriate structure of the charity,
to the activities, size “then” the charity could be subject to fines, penalties
and structure of the or censure from licensing or activity regulators.
charity This could result in a loss of licence to undertake
a particular activity (see operational risks)and
possible employee or consumer action for
negligence. This may also result in reputational
risks. Failure to comply with data protection
legislation - GDPR - could result in a fine of 4%
of the charity's turnover or £2 million.
Governing Volunteers “If” volunteers are not correctly recruited (with 9
document and compliant vetting and reference procedures),
the law trained, supported and recognised in their role
“then” this will result in a lack of competences and
engagement, a lack of adherence to volunteer
guidelines and a poor service for beneficiaries. It
may also result in a lack of legal compliance.
Governing Health, Safety and “If” a responsible and compliant health and safety 6
document and Environment environment does not exist,
the law
“then” there could be injury to staff, beneficiaries and
the public and a risk from products and services
which could result in an inability to operate
and legal implications resulting in loss of Trust
income.
Governing Data Protection “If” a third party company that is used by Royal 8
document and Papworth Hospital Charity has a data breach
the law
“then” this could result in legal, reputational and
significant financial damage to the Charity.
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Trustee Core Duty Title Description Risk level
Governing Compliance with donor “If” the charity does not comply with donor imposed 3
document and imposed restrictions restrictions for the use of funds,
the law “then” funds applied outside restriction may result in
the immediate repayment of the grant/income
and the future relationship with donor and
beneficiaries may be damaged. Regulatory action
may also be taken against the charity.
Governing Fraud or error “If” fraud or erroneous activities are detected 6
document and or committed
the law “then” this may result in financial loss which could
have an impact on funding and reputational
risk and lead to regulatory action and/or loss of
staff morale.
Public benefit Relationship with “If” there is a deterioration in relationship/s with 3
funders major funders
“then” this may impact on funding and support
available. Longer term this would mean reduced
income and less funds to support the Trust.
Public benefit Charity purpose “If” Royal Papworth Hospital does not request 9
and object financial support from Royal Papworth Charity,
“then” Royal Papworth Charity is unable to fulfil its
purpose.
Reasonable care Trustee body lacks “If” the Trustee Board of the Charity do not have the 12
and skill relevant skills or right skills or commitment then the charity may
commitment fail to achieve its purpose. This could lead to
decisions being made which bypass the Trustee,
resentment or apathy amongst staff and poor
decision making reflected in poor value for
money on service delivery for beneficiaries.
Reasonable care Public Perception “If” public perception of the Charity changes 6
and skill “then” this could impact on income which could in turn
impact on use of services by beneficiaries and the
ability to access grants or contract funding.
Reasonable care Working in a foreign “If” we are working overseas in a foreign country 3
and skill country “then” there may be exposed to risk legally, security of
staff, corruption, reputation and financial to the
Trust.
Reasonable care Direction, strategy and “If” the Charity lacks direction, strategy and forward 3
and skill forward planning planning
“then” it may drift with no clear objectives, priorities
or plans. Issues may only be addressed on a
piecemeal basis with no strategic reference
and the needs of beneficiaries may not be fully
addressed. This may also lead to long term loss
of income, difficulties with financial management
and loss of reputation.
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5 . Risks (continued)

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Trustee Core Duty Title Description Risk level
Reasonable care Food Hygiene “If” the Charity accepts donations of food, 3
and skill “then” there is a risk that it doesn’t meet food hygiene
standards and could make consumers ill.
Resources Investment “If” the Charity does not have or fails to adhere to 1
investment policy,
“then” this could result in unforeseen severe adverse
investment conditions, financial loss through
inappropriate or speculative investment or lack of
investment advice or diversity.
Resources Dependency on income “If” there is a disproportionate dependency on one 12
sources income source
“then” cash flow and budget may be impacted if there is
a loss of this income source.
Resources New Charity project or “If” projects or services are developed which are not 2
Service Development compatible to the objectives, plans, priorities and
funding of the department or for which there is
no funding
“then” the Charity could be exposed to financial and
reputational risk.
Resources Taxation “If” there are financial penalties, interest and 'back 6
duty'/assessments
“then” there may be loss of income e.g. failure to utilise
gift aid arrangements, loss of mandatory or
discretionary rate relief and/or failure to utilise tax
exemptions and reliefs.
Resources Reserves Policies “If” the reserves policy is not administered accurately, 12
“then” this could result in a lack of funds or liquidity
to respond to new needs or requirements
and/or an inability to meet commitments or
planned objectives. Conversely, it may result
in an excess of funds which could then lead to
mismanagement of funds.
Resources Market invesment “If” there is high market volatility, resulting in a 12
significant market downturn
“then” cash flow difficulties may arise from lack of
liquidity. This could impact on the Charity's
ability to deliver its strategic objective for
expenditure.
Resources Social Invesment “If” the charity makes social invesments, 2
“then” there are additional reporting and regulatory
requirements to adhere to. Any income
generated from the investments must be
incidental.
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6 . Celebrating the life of ‘enthusiastic and loving’ Vic

The Gujral family celebrated the life of ‘enthusiastic and loving’ husband and father Vic by placing a personalised brass maple leaf on our Giving Tree.

Last year, Vic received a heart transplant on the 100th day of his stay at the hospital. Unfortunately, due to post-surgery complications he was placed in a medically induced coma for 30 days. His wife Ritu and daughters Kushi and Kushboo and extended family spent time with him, doing Paath (prayers), holding his hand, playing music to him, and updating him on the football and cricket scores.

Sadly, Vic never recovered and as the family say, ‘he peacefully moved on to his next life surrounded by family, carrying the love of his family and friends with him.’

Kushi said: “The hospital was dad’s last home. During his stay he built lasting relationships based on a mutual understanding. Placing his leaf on the Giving Tree as much as we wish it were not necessary, surrounded by consultants, nursing staff and other patients, is testament to the lasting impact his life had.”

The family set up a Just Giving fundraising page in his honour and to say thank you to the hospital for the exceptional care he received. Thanks to the kindness of their family and friends they raised over £6,400 for the Patient Welfare Fund. The fund provides free local accommodation for family members of patients who travel far to be by their loved one’s side in their greatest time of need.

About the Giving Tree

Our Giving Tree celebrates a life, gives thanks, or displays a message to a loved one while supporting Royal Papworth Hospital. Family and friends can create a lasting tribute by displaying a personalised solid brass maple leaf on the tree, which is ‘planted’ beside the Chaplaincy for people to view and pay their respects. All the money raised through people buying a personalised leaf for the Giving Tree supports the work of Royal Papworth Hospital.

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The Gujral family and Royal Papworth Hospital staff and volunteers.
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7 . From heart transplant to running 10K in aid of our Charity

Heart transplant patient Darren conquered the Run Norwich 10k and raised over £1,700 for our Charity last October.

Darren (55) took on the challenge nine months after he received his transplant at Royal Papworth Hospital, as a thank you for the ‘compassionate, empathetic trusting and skilled care’ and treatment he received.

Darren’s journey to receiving a heart transplant was an emotional one. In 2017, he collapsed and was diagnosed with inherited dilated cardiomyopathy – a condition in which the heart becomes enlarged and cannot pump blood effectively.

Over the next few years to regulate his abnormal heart rhythm he was fitted with a pacemaker and then an implantable cardioverter defibrillator. He describes the years between diagnosis and receiving his heart transplant as ‘horrendous,’ as his mother sadly died of the same condition two years after he was diagnosed.

Darren said: “Just before I went into theatre, I was feeling very stressed and there were a lot of tears. A member of staff sat beside me and held my hand until I went down. The staff are incredible people. I am in awe of all of them, they are brilliant.”

Life has certainly changed for Darren, from receiving the transplant, to ‘smashing rehab’ and running 10k. He can now look forward to watching his daughter Fran get married.

Darren said: “I now have the biggest honour of walking my daughter Fran down the aisle when she marries her fiancée, Harry.”

“I thank my incredible donor for wanting to donate their organ(s) and their family in their moment of grief for honouring those wishes. They have changed not just my life, but they have given Fran the opportunity to have her dad walk her down the aisle. That is a life memory that I may never have got to see.”

Darren’s daughters Charlotte and Fran are proud of what their dad has achieved since he received his heart transplant and add: “We are happy to support dad with his fundraising because we wanted to give something back to the hospital. The staff were really accepting of how emotional, dad being seriously ill and then receiving his heart transplant, it was for all of us.”

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8 . How we support Royal Papworth Hospital

9.1 Expenditure

The charitable funds we receive from our supporters make a difference to the lives of the hospital patients and their family members, alongside hospital staff and volunteers in a variety of ways.

This includes investment in capital projects, purchase of medical equipment, welfare provision for patients and their families, training and education and wellbeing initiatives for staff and ground-breaking research.

Funds used in the year to further the Charity’s objectives amounted to £1,563,000 (2023/24: £1,971,000).

9.2 Charitable expenditure 2024/25

Staff welfare and amenities

£1,272,000

Patients’ welfare and amenities

Total: £1,563,000

-£70,000

Research

Royal Papworth Charity has funded £271,000 towards pump priming research projects and fostering a research and innovation culture at Royal Papworth Hospital. The funding will be used to support both clinical and nonclinical research projects.

Included within staff welfare is £75k (2023/24 – £79k) of gifts in kind which have been distributed throughout the hospital.

The negative spend against patient welfare and amenities is due to the release of a large grant committed in 2023/24. See note 9.1 in the accounts.

Support costs are apportioned across charitable activities and raising funds. For the method of apportionment see note 3.3 in the accounts.

Under the Statement of Reporting Practice (SORP) the Charity is also required to include future commitments in the expenditure. The majority of the Charity’s

commitments relate to costs for the Victor Phillip Dahdaleh Heart and Lung Research Institute, the Compassionate and Collective Leadership Programme and the Research Innovation Fund.

£271,000

Raising funds £90,000

15 — ——

9 . 2024/25 Major project achievements

Developing tomorrow’s medicine today

Clinical Research Facility

£500,000

The Charity’s commitment to developing innovative treatments for a wide range of heart and lung diseases continues with £500,000 approved for the Clinical Research Facility (CRF) located in the Victor Philip Dahdaleh Heart and Lung Institute over two years.

The CRF is entering its most ambitious two years with a significant increase projected for the number of studies, collaborative opportunities available and the diversity of the studies being undertaken, which will be achieved by bringing in new investigators.

Year one will see the investment into an Echocardiography Machine to support the aspirations of developing an Academic Imaging Core Laboratory. Having a dedicated Physiologist for the machine will allow will allow the CRF team to expand their capability to support studies and attract external partners.

The funding will also provide additional staff to build an infrastructure to support the increased number of studies. The improved access to clinical trials will benefit Royal Papworth patients as innovative treatments are developed and medical advances are made.

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Research Innovation

We continue to provide a commitment to pump prime research projects across Royal Papworth Hospital. Research projects funded now will enable the discovery of further medical advances that will save more lives tomorrow.

The Research Innovation grant is now a wellestablished annual grant and has successfully been renewed for its fifth year. In 2024/25, the research innovation grant call received the highest number of applications to date with both clinical and non-clinical projects being selected to receive funding.

The allocation of funding has accelerated the ability for both clinical and non-medical researchers to undertake research at Royal Papworth and there have been a number of notable successes.

£200,000

One project which has been gathering momentum is the introduction of a new tool to support line managers whilst appraising staff. The team are developing a more inclusive approach to understanding the individual needs of staff.

By weaving equality, diversity and inclusion throughout the line management process, the increased communication will improve patient safety, staff retention, increase productivity and allow a greater understanding of the skills available within the workforce.

The commitment to funding projects such as these will allow Royal Papworth to remain as a driving force for providing innovative healthcare solutions and encourage the workforce to strive to deliver excellence.

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9 . 2024/25 Major project achievements

(continued)

Educating tomorrow’s workforce today

Advanced Life Support training equipment

£8,500

Having the latest equipment has allowed the Clinical Education team to expand the advanced life support courses being delivered at Royal Papworth Hospital.

The new full-body CPR manikin has enabled the team to deliver high-quality advanced life support training. The advanced features of the manikin provide real-time feedback on the quality of the chest compressions and display cardiac rhythms as they would appear in real-life scenarios. These functions are invaluable for providing a realistic and effective training experience for the clinicians which will ultimately enhance their lifesaving skills and improve patient care.

Sara Almeida, Lead Resuscitation Officer at Royal Papworth Hospital, says: “These additional training spaces ensure more staff are equipped to lead a cardiac arrest team, maximizing our patients’ chances of survival in the event of a cardiac arrest within the hospital.”

“We could not offer this extra training without the generosity of our Charity supporters. On behalf of the Clinical Education team, thank you for your kindness.”

The expansion of these courses will help to foster a culture of continuous learning and professional development amongst staff. Encouraging staff to pursue advanced skills that contribute to their growth and the hospital’s excellence in care, which will aid staff retention as clinicians feel more supported and valued in their roles.

Sara Almeida, Lead Resuscitation Officer at the Royal Papworth Hospital (pictured right) leading the Advanced Life Support Training

Chief Nurse Fellowship programme

The 12-month internship in collaboration with Cambridge University Hospitals (CUH) is aimed at front-line nurses and Allied Health Professionals who are looking to make a significant impact on patient care through working on quality improvement and research projects whilst also developing their research and leadership skills.

Our Charity has provided funding to cover three clinicians to attend this internship for one day a week for the duration of the programme. During the sessions, staff will work together in small groups on a project pertinent to clinical practice and aligned with the service priorities in the Trust.

They will also benefit from taught sessions provided by the Royal Papworth Hospital Library Team and experienced researchers. At the end of the programme, they will be required to present a report on their project at the annual Research Conference.

This internship will provide a unique opportunity for front-line nurses and health professionals to develop essential research skills that are often outside the scope of daily clinical responsibilities. They will gain hands-on experience in conducting studies, analysing data and applying evidence-based practice. The learning will empower the staff to bring back new insights and innovations to their clinical roles, ultimately improving patient care.

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Sandra Mulrennan, one of Royal Papworth
Hospital’s Heads of Nursing and Chief Nurse
La Fellowship interns, Leticia, Eleonora and Shorai. [SS r — —
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9 . 2024/25 Major project achievements

(continued)

Investing in innovation

Highly Specialised Occupational Therapist

Following the successful implementation of a range of therapeutic benefits and cognitive activities for patients at Royal Papworth Hospital, the Highly Specialised Occupational Therapist role with a specialism in music therapy has been renewed for a further 12 months.

The first 12 months of funding was dedicated to working with patients in critical care, leveraging music as a means of patient stimulation whilst recognising the complex and diverse needs of this patient group.

The comprehensive therapeutic framework provided to these patients included cognitive stimulation,

neuro-motor facilitation and targeted tactile, kinaesthetic and proprioceptive stimulation which all complement the auditory benefits provided by music therapy.

With the renewal of this grant, the Occupational Therapy team will expand the service onto the wards, ensuring all patients have access to enhanced therapies. The holistic care approach used by this team will support the early identification of neurological symptoms which will prevent delays in critical interventions, enhancing patient safety and allow for more timely rehabilitation which will improve patient experience.

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Sadhana, Highly Specialised Occupational Therapist
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Addressing the needs of the hospital today

Patient welfare – Patient Support Fund

The Patient Support Fund has provided 320 nights of local accommodation for family members of patients to be nearby at their greatest time of need.

When a loved one is unwell and an inpatient at Royal Papworth Hospital, there is an emotional and financial strain on the family members who are by their side.

The Patient Support Fund is available to families experiencing financial hardship to allow individuals to stay in accommodation close to the hospital, without the worry of the associated costs.

Matt said: “One of the lovely things we would do when Lucy stayed longer, is to have a picnic in the ward day room. We would get a couple of fancy glasses and straws, and Lucy would bring a Tupperware container in with my favourite food. It was a little special moment we could have together. It made you feel like you were doing something special, just like everyone else.”

Matt and Lucy from Brighton were one family that was able to benefit from this fund. Matt spent eight months waiting for his heart transplant at Royal Papworth Hospital.

His wife, Lucy would stay locally which meant she could spend more time at Matt’s side and less time on the eight-hour return journey from Brighton to Cambridge.

Matt and Lucy benefitted from the Patient Support Fund

9 . 2024/25 Major project achievements

(continued)

Addressing the needs of the hospital today (continued)

Patient welfare – Brightening a patient’s day with a pamper session

Many Royal Papworth patients spend extended periods of time on the wards recovering from their treatment or waiting for a transplant. To add a little joy to the day, the Charity funded 60 hours of pamper sessions over 2024/25 for Beauty Therapist, Michaela, to visit patient rooms.

Michaela, beauty therapist and Julie, patient at Royal Papworth Hospital AS \

Michaela visits the hospital once a week and provides nail care, hand and foot massages and facials to around 15 patients a week on the respiratory and surgical wards. The special treat is greatly appreciated by those who Michalea visits, and also gives them the chance to break up the day.

Julie, a Royal Papworth patient said: “I thoroughly enjoy my pampering sessions with Michaela. It is so nice to have that little bit of normality brought into the hospital room and is such a treat.

Mary, who can become ‘very poorly’ with lung disease and unable to manicure her own toenails and finger nails, says having Michaela do it for her is a “wonderful treat and makes her feel very special.”

She added, “When you are feeling poorly you can let things go a bit. The beauty therapy treatments help me with my general wellbeing, and they give me a boost that helps me feel better.”

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Michaela with
patient Richard
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Staff welfare

Royal Papworth provides a busy calendar of events and schemes to recognise and acknowledge the hard work of its dedicated staff. Through our commitment to equality, diversity and inclusion, a multicultural approach is taken to ensure that staff of all backgrounds feel represented and celebrated by the Trust.

Funding has been provided for staff ‘away days’ where teams can have time to review their activities and shout about their successes, improve team relations, review any changes and implement best practice learnings. Projects such as these improve staff engagement and allow shared learnings which will ultimately improve patients experience.

From small gestures on International Nurses Day to all-staff events and the staff awards, the wellbeing and recognition of the workforce is considered at every turn and our Charity are delighted to play its part.

Celebrating International Day of Happiness with free fruit for staff at Royal Papworth Hospital

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9 . 2024/25 Major project achievements (continued)

Prioritising today’s patients for tomorrow’s healthcare system

Tailored weight management pilot for patients using a Continuous Positive Airway Pressure (CPAP) machine

Royal Papworth is known for its holistic approach to patient recovery and recognising health inequalities allows for a bespoke treatment plan for each patient.

Health Inequalities Specialist Nurse, Berin, recognised a gap in NHS provision and sought funding to implement a tailored weight management service as an enhancement on the current offering within the Trust. The Charity approved £36,000 for a pilot with a focus on patients who are using a CPAP machine.

The new service will bridge the current gap and provide immediate, accessible support to ensure patients receive guidance and tools to make sustainable lifestyle changes whilst awaiting community-based interventions. Their improved health outcomes will mean a reduced CPAP dependency and an improved patient experience.

CPAP machine

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10 . Financial Review

----- Start of picture text -----
Unrestricted £k Restricted £k Total £k
Fund balances b/fwd 3,896 1,334 5,230
Income 1,055 843 1,898
Expenditure (1,692) 129 (1,563)
Net (loss)/gain on investments (35) (119) (154)
Fund balances c/fwd 3,224 2,187 5,411
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10.3 How we manage the money

Money which is donated to Royal Papworth Charity is managed via restricted and unrestricted funds. Some of this money is donated for a specific purpose, such as to buy medical equipment, whilst other donations are more generic and donated for the Charity to use where it thinks there is the greatest need in the hospital. The Trustee Board, on behalf of the Corporate Trustee, believes that all of the unrestricted and restricted funds are able to meet current and future commitments.

More detailed information on the breakdown of the Charity funds is available in Note 10 of the Accounts .

10.4 Fund balance

Fund balances increased by £181,000. During the year, unrestricted funds decreased by £672,000 and restricted funds increased by £853,000.

10.5 Reserves

Restricted balance of £2,187,000 arises where our donors have specifically requested that their donations are used for a particular purpose or they have responded to an appeal for donations to a specific project.

Unrestricted funds of £3,224,000 are donations the Charity may use for any purpose as no restrictions have been placed by our donors.

Of which:

Designated funds: £1,898,000 are funds set aside out of unrestricted funds by the Trustee Board for specific purposes relating to Royal Papworth Hospital without restricting or committing the funds legally.

Free reserves: £1,326,000 are unrestricted funds not already committed or designated that can be used as part of active financial management and forward financial planning for sustainability of the Charity.

10 . Financial Review (continued)

10.6 Income

Royal Papworth Charity is fortunate to receive generous support from many members of the public. The Charity team have worked hard to diversify income generating activity and to prioritise stewardship to best support our donors.

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Income Stream 24/25 Target 24/25 Actual Variance
Gifts in kind £100,000 £74,960 -£25,040
Community £150,000 £148,228 -£1,772
Direct marketing £20,000 £14,350 -£5,650
Events £20,000 £33,211 £13,211
Lottery £20,000 £11,096 -£8,904
Individual giving £120,000 £119,830 -£170
In-memory £155,000 £128,333 -£26,667
Retail £30,000 £19,707 -£10,293
Regular Giving £40,000 £41,494 £1,494
Trusts £250,000 £8,812 -£241,188
Major Gifts £70,000 £0 -£70,000
Partnerships £25,000 £0 -£25,000
Total £1,000,000 £600,021 -£399,979
Legacy £882,324 £1,113,321 £230,997
Total including legacies £1,882,324 £1,713,342 -£168,982
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11 . Legacy income

As an NHS charity that supports the vital work of Royal Papworth Hospital, the UK’s leading centre for the treatment of heart and lung disease, legacy gifts will always be a vital source of income.

This year, we have raised £1,113,000 in legacy income. This is with thanks to the generosity of our supporters who have bequeathed a gift to the Charity in their Will.

Royal Papworth Charity has continued to partner with specialist Will-writers Octopus Legacy, who offer a free Will-writing service for our supporters. This has helped grow legacy income, whilst offering our supporters a great opportunity to plan for the future.

Ziskin

Ziskin, who had heart failure after a heart attack, received a heart transplant at Royal Papworth Hospital. A decade later, the Isle of Wight resident says he would not be here today if it was not for the hospital.

I am happy to pledge a gift in my Will to the hospital. I want to make an impact on the lives of people living with heart and lung disease. I want them to get a second chance in life, just as I gratefully did. Ziskin

Siskin

27 Oo

12 . Community income

We have had another amazing year raising funds through a wide range of different supporter challenges and events. Our supporters’ determination to go above and beyond in support of our work is deeply appreciated across all areas of Royal Papworth Hospital.

Cambridge Country Club, a golf course in the heart of Cambridgeshire, chose Royal Papworth Charity as their Charity of the year and raised £7,600 with plans to continue the partnership into 2025.

In exchange for the delicious food he served them, he asked for donations to our Charity. His fantastic fundraising initiative raised £10,355 from his generous diners.

Carefully planned community events resulted in incredible generosity from a broad range of supporters. Family fun days, school bake sales, quiz and race nights as well as raffles, Christmas events and a book of poetry all helped to raise funds.

A sports mad 10-year-old took on a 10km cycle ride, 10km run and 10k swim and raised over £1,200 for Royal Papworth Hospital, who has cared for his grandad over the past decade.

Just a snippet of the ways in which our supporters dedicated their time, resources and skills to raise money for the Charity.

This year, we had the highest number of #teamroyalpapworth runners at the Cambridge Half Marathon. Royal Papworth Hospital patients and their family members along with hospital staff left no stone unturned when it came to fundraising. The forty-eight runners raised over £22,000. The family and friends of a lung transplant patient raised £7,000.

This March we celebrated the one-year anniversary of our LEGO® competition partnership with Brick Prize Draw. And thanks to everyone who entered the competitions to win a dream LEGO® set, including rare and retired sets which are no longer available, we raised a mighty £11,250 in 12 months.

Alex, a former cardiac surgery patient, broke the Guinness World Record for running the fastest marathon by somebody with an artificial heart valve.

Thank you for your continued support. Your commitment to fundraising provides hope and encouragement to Royal Papworth Hospital patients and staff. You are truly making a difference, now and in the future.

The 37-year-old conquered the Stevenage marathon last October with a time of three hours and six minutes – breaking the previous world record by 45 minutes.

Alex had a bicuspid aortic valve - a common congenital heart defect which can cause blood flow issues. If left untreated it could have caused serious complications such as heart failure. He said he faced the most challenging time of his life and feared he may never see his daughters grow up, when three years ago he underwent open heart surgery at Royal Papworth Hospital to have an artificial valve fitted.

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Alex with
his Guinness
World Records
Certificate
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Social media and local media coverage attracted donations to his online fundraising page which saw him quadruple his original target and raise £1,700.

Thanks to the amazing staff and treatment I received at Royal Papworth Hospital, I can return to my love of running and am delighted to have broken the world record at the same time.

A double lung transplant patient gathered his friends, family and business contacts together to celebrate the opening of his new Peterborough restaurant.

Alex

13 . Fundraising heroes

Kris Bashyal

Double lung transplant patient Kris Bashyal and owner of the Kathmandu Lounge restaurant raised an amazing £10,355. Kris and his family celebrated his second chance at life and the opening of his new Nepalese restaurant with an evening of delicious food and fundraising for Royal Papworth Hospital.

£10,335

Invited guests dug deep into their pockets including those who could not make the event and helped him raise the impressive total. Every year Kris plans to celebrate the anniversary of his lung transplant with a fundraising event.

Austin Moore

Sports mad, Austin smashed his very own fitness challenge and raised £1,271 for Royal Papworth Charity.

The 10-year-old took on a 10km cycle ride, 10km run and 10km swim last June, to help raise money for Royal Papworth Hospital patients and staff.

£1,271

Austin’s fundraising is his way of saying a huge thank you for the life-saving treatment his 60-year-old grandad Paul received from the hospital over the past eight years.

Kate Crichton, Ri Oliver and Jamie Blackett

Kate, Ri and Jamie raised £7,000 to say thank you to Royal Papworth Hospital who saved Kate’s partner Ross with a double lung transplant. The team of three raised the impressive amount by taking on the iconic Cambridge Half Marathon in March.

Kate said “Ross would not be here today if it wasn’t for the incredible staff at Royal Papworth Hospital and the generosity of the donor and their family’s courage and support for donation.

£7,000

“The hospital saved his life more than once and has provided the most exceptional care and support in the months before and since his transplant.”

Alan and Kala Wykes

Alan who underwent coronary artery bypass grafting surgery at Royal Papworth Hospital, generously donated £7,000 on the anniversary of the day he was discharged from hospital.

Alan said they plan to keep donating on this day every year. He said: “The whole team from the ancillary staff, the nursing staff through to the surgeons took excellent care of me during my four weeks stay and they were all so cheerful and kind which always kept my spirits up. I wanted to say thank you in some way or form and donating to the Charity seemed the best way to do this.

£7,000

“Kala also wanted to say thank you in a practical way. The nurses were always concerned about how she was coping and the thing she will never forget is that the surgeon phoned her after the operation to say that I was alright.”

14 . Our Future Plans

Royal Papworth Hospital provides excellent, specialist care to patients suffering from heart and lung disease. The hospital community works hard to deliver tomorrow’s medicine to today’s patients in a patient-centric, deeply compassionate and caring environment.

When I stepped into the role of Managing Director in January 2025, I was deeply moved by the extraordinary bond between our patients, staff, volunteers, and supporters. That connection is what fuels our Charity’s mission to do more, reach further, and accelerate the impact of this remarkable hospital.

The year ahead marks a new chapter of growth and ambition. As we respond to a changing landscape of charitable giving, our focus is on becoming even more resilient, so we can continue delivering vital support where it’s needed most.

To support this ambition, we will:

This, combined with the dedication and support of our valuable supporters, will allow our Charity to continue to support the delivery of excellent, specialist care to patients suffering from heart and lung disease.

Krystyna Grant Managing Director, Royal Papworth Charity

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15 . Reserves

Approved statement of policy on reserves

The Trustee Board believes it is prudent to hold a level of free reserves to enable the Charity to take advantage of opportunities as they present themselves and to have sufficient working capital to allow the fundraising, support and governance operations of the Charity to continue for one year. This will allow the Charity to respond in a considered way to any adverse change in circumstances, giving sufficient time to enable emerging circumstances to be assessed and appropriate plans developed and implemented, without requiring a crisis response.

Having carefully considered the best interests of the Charity and its beneficiaries, the Trustee Board believes it to be appropriate to aim to hold £1.5m free reserves. £0.6m is required for working capital and £0.9m is the Trustee Boards’ best estimate of the amount which should be held for potential future (but as yet unknown) opportunities.

Any free reserves held by the Charity over and above this amount which are not expected to be used in the short term will be made available by the Trustee Board for grants to benefit the patients of Royal Papworth Hospital NHS Foundation Trust. If free reserves fall below this level the Trustee Board will consider whether this is due to short term circumstances or a longer-term reason and will review its expenditure and fundraising plans accordingly.

Material designated funds

Material Designated Funds are where the Trustee Board has approved projects as suitable for fundraising and fundraising occurs towards those projects, donations received are placed in the appropriate designated fund pending the formal grant of monies once sufficient fundraising has taken place to enable the project to proceed.

There were £929k commitments approved in 2024/25 (£1,101k 2023/24) of which £Nil related to restricted funds (£422k 2023/24), £429k related to undesignated funds (£679k 2023/24) and £500k related to designated funds (£Nil 2023/24). A further £613k was approved for the charity budget (£562k 2023/24). Where the Trustee Board approves the allocation of free reserves towards the funding of future capital programmes/projects/ schemes which have been identified by the beneficiary NHS Body as required within the next three to five years, a designated fund is set up for the amount the Trustee Board expects to contribute, and the expected time frame is agreed and recorded.

The designation, time frame and specific proposals are then reviewed by the Trustees as requirements are updated, and the fund is closed either when a specific commitment is made or in the event of the proposals being withdrawn

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16 . Investments

16.1 Monitoring of investments

Investment performance is monitored by the Charitable Funds Committee, which receives reports from the investment advisers. The Charitable Funds Committee reviews the Investment Policy on an annual basis and undertakes periodic reviews of arrangements for investment advice to ensure that value for money is being achieved.

16.2 Investment statement

The Trustee Board aims to ensure that donations and funds held by the Charity are spent effectively and efficiently to achieve its objects; for any purposes related to the National Health Service. This means that they may not need to be spent straight away and there will be time between receiving donations and spending them when they can be invested to further increase their value and earn extra income for the Charity as well as to protect them in the short to medium term so that they are available to meet future expenditure on committed projects. The Trustee Board has adopted an Investment Policy (RPC003 – available upon request) to regulate the activities of their Investment Manager from time to time and to meet the requirements of the Trustee Act 2000. The below statement provides a highlevel overview of the policy document. As an unincorporated Charity, the Trustee Board has the general powers of investment and duties provided for in the Trustee Act 2000, subject only to any specific provisions in the governing document. The Trustee Board makes full use of its powers to invest for the benefit of the Charity and its beneficiaries and reserves the right to hold any asset for the purpose of generating money, whether income or capital growth, with which to further the work of the Charity. The Trustee Board has determined that its appetite for risk is balanced overall.

In 2024, the Charity transferred its funds to be held by a new Investment Manager, CCLA. The new Investment Manager has been fully onboarded with the Charity and reports to the Charitable Funds Committee on a quarterly basis.

The Investment Manager will be expected to adopt a diversified portfolio with an overall volatility of no more than 12% for its long-term portfolio measured over a five-year annualised period.

Having considered the situations set out by the Charity Commission when considering ‘responsible investment’, the Trustee Board has determined that no investments should be made in securities from organisations that generate a material amount of their turnover or wealth (as defined below) through the following industries and companies:

No further ethical restrictions apply, although the Trustee Board reserves the right to exclude any investments which they judge might prove damaging, directly or indirectly, to the purposes, reputation or public support of the Charity. The Charity applies the same exclusions within its Donation Acceptance and Refusal Policy. The Trustee Board has set a threshold of 7% as the maximum holding in or exposure to any individually traded asset.

Collective investment schemes can be held at higher concentrations provided the underlying assets do not breach the 7% limit. The choice of investment manager(s) will be kept under review by the Charitable Funds Committee which should formally decide whether to continue with the current investment manager(s) or recommend to the Trustee Board that a new manager is selected at least every five years.

17 . Charity governance, structure and management arrangements

Trustee recruitment, appointment and induction

IMembers of the hospital’s Board of Directors are coopted into the Trustee Board. The appointment of Non-executive Directors of the Board of Directors are appointed by the Council of Governors. The Chief Executive is appointed by the Non-Executive Directors, subject to the approval of the Council of Governors.

Executive Directors of the Board are appointed by a Committee, normally comprising the Chairman, the Chief Executive, at least two other Non-executive Directors and an independent assessor. Members of the Trustee Board are not individual trustees under Charity Law but act as agents on behalf of the Corporate Trustee. As part of their induction, new Executive and Non-executive Directors of the Royal Papworth Hospital NHS Foundation Trust are made aware of their responsibilities as Corporate Trustee of the Royal Papworth Charity, which include a standing declaration of interests at all meetings.

The induction includes an introduction to the objectives, scope and policies of the Trustee Board and Charitable Funds Committee, Charity Commission information on trustee responsibilities, copies of the previous years’ Trustee’s Annual Report and Accounts and a copy of the governing documents for the Charity’s Statement of Trustees’ Responsibilities in respect of the Trustees’ annual report and the financial statements.

Statement of Corporate Trustee’s responsibilities in respect of the Corporate Trustee’s annual report and the financial statements

Under the trust deed of the charity and charity law, the corporate trustee is responsible for preparing a Corporate Trustee’s Annual Report and the financial statements in accordance with applicable law and regulations. The corporate trustee is required to prepare the financial statements in accordance with UK Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

The financial statements are required by law to give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources for that period. In preparing these financial statements, generally accepted accounting practice entails that the corporate trustees:

The Corporate Trustee is required to act in accordance with the trust deed and the rules of the charity, within the framework of trust law. They are responsible for keeping accounting records which are sufficient to show and explain the charity’s transactions and disclose, with reasonable accuracy, the financial position of the charity at that time, and to enable the corporate trustees to ensure that, where any statements of accounts are prepared by them under section 132(1) of the Charities Act 2011, those statements of accounts comply with the requirements of regulations under that provision. They are responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities.

The Corporate Trustee is responsible for the maintenance and integrity of the financial and other information included on the charity’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

18 . Members of the Trustee Board

18.1 Current members of the Trustee Board

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Name Title
Jag Ahluwalia Chairman
Eilish Midlane Chief Executive Officer
Tim Glenn Deputy Chief Executive and Executive Director of Commercial Development,
Strategy and Innovation (from 2/12/2024)
Sophie Harrison Interim Chief Finance Officer
Ian Smith Medical Director
Harvey McEnroe Chief Operating Officer
Oonagh Monkhouse Director of Workforce and Organisational Development
Maura Screaton Chief Nurse
Michael Blastland Non-Executive Director (until 31/03/2025)
Cynthia Conquest Non-Executive Director
Gavin Robert Non-Executive Director
Ian Wilkinson Non-Executive Director
Amanda Fadero Non-Executive Director
Diane Leacock Non-Executive Director
Charlotte Paddison Interim Non-Executive Director (from 2/12/2024)
----- End of picture text -----

18.2 Members of Corporate Trustees who left during 2024/25

----- Start of picture text -----
Name Title
Tim Glenn Chief Finance and Commercial Officer and Deputy Chief Executive
(on secondment to East Kent (from 01/11/2023 – 1/12/2024))
----- End of picture text -----

18.3 Members of the Corporate Trustee

Dr Jag Ahluwalia, Chairman

Jag assumed the role of Chair of Royal Papworth Hospital in February 2024, following the retirement of Professor John Wallwork. He had previously been a non-executive director since November 2019.

His wide-ranging portfolio as Medical Director included professional medical governance and leadership for more than 1,400 doctors, executive lead for Research and Development, executive lead for Postgraduate Medical Education, lead for patient safety and Director of Infection Prevention and Control. He was co-Chief Operating Officer for over three years and was executive lead for the award winning Electronic Patient Record system and related IT for over 2 years.

Mrs Eilish Midlane, Chief Executive Officer

Eilish Midlane became Chief Executive Officer at Royal Papworth Hospital in September 2022, having previously been Chief Operating Officer for five years.

Before joining Royal Papworth in 2017, Eilish was the Divisional Director of Clinical Support Services at East and North Hertfordshire NHS Trust.

Prior to that, she trained and practiced as a biomedical scientist (a sub-group of healthcare scientists) for many years before moving from pathology to general hospital management in 2008.

She holds a wealth of experience spanning strategy, operational leadership and delivery and hospital and clinical services reconfiguration. Eilish brings with her considerable expertise in patient safety, clinical governance and service improvement planning.

Mr Tim Glenn, Deputy Chief Executive and Executive Director of Commercial Development, Strategy and Innovation)

Tim joined Royal Papworth Hospital as Chief Finance Officer in April 2020. He was previously with Cambridge University Hospitals NHS Foundation Trust where he was Director of Finance. Tim is a chartered accountant with 15 years of senior financial leadership experience working across community, acute and specialist NHS organisations as well as in the private sector. Tim had a 12-month secondment as interim Chief Finance Officer at East Kent Hospitals University NHS Foundation Trust from November 2023 until November 2024. He returned to Royal Papworth Hospital in December 2024. In October 2025, he was formally appointed as deputy chief executive and executive director of commercial development, strategy and innovation.

Sophie Harrison, Interim Chief Finance Officer

Sophie became Chief Finance Officer (interim) at Royal Papworth Hospital in November 2023, having previously been Deputy Chief Finance officer for four years. Sophie is a chartered accountant and a member of the Institute of Chartered Accountants in England and Wales. She brings over 10 years of experience of senior financial leadership across the public sector and prior to joining Royal Papworth she held a number of roles at Monitor (now NHS England) with a focus on supporting organisations and systems to develop long term plans to ensure financial sustainability.

Mr Harvey McEnroe, Chief Operating Officer

Harvey joined Royal Papworth Hospital as chief operating officer (COO) in April 2023, having previously held executive and director roles in London and the south east of England. Before joining Royal Papworth, Harvey was managing director and hospital director at University Hospital Sussex, one of the largest NHS Trusts in England. Harvey has a wealth of experience in operations and operational delivery and has worked at acute, specialist, system and regional level in senior operational roles, which give him a unique insight into the full range of services provided in today’s NHS, and importantly how to get the best out of them for patients and staff.

Ms Oonagh Monkhouse, Director of Workforce and Organisational Development

Oonagh joined the Trust in October 2017 having held the same role at Bedford Hospitals NHS Foundation Trust. Oonagh worked previously at Cambridge University Hospitals, where she undertook a number of senior human resources roles including Deputy Director of Workforce.

Mr Andrew Raynes, Director of Digital and Chief Information Officer (CIO)

Andrew joined Royal Papworth Hospital NHS Foundation Trust in 2017 following his role as IT Programme Director at a major London acute. He has over 20 years’ experience working in the health, Local Authority, HMP and private sectors, including overseas. Andrew is a graduate of the Oxford Said Executive Leadership programme, has a Master’s degree in Healthcare Informatics specialising in education and former Chair of the Cambridgeshire and Peterborough Integrated Care System (ICS) Digital Enabling Group.

Liz Sanford, Chief Finance Officer (Interim)

Liz is a chartered accountant (CPFA) who began working for the NHS in 2015 with NHS Improvement, where she was a member of the East of England finance team. She joined The Queen Elizabeth Hospital, King’s Lynn on secondment as Deputy Director of Finance in 2019 and subsequently moved to the Norfolk and Norwich University Hospitals Trust in September 2020 to take up the post of Director of Finance Operations.

Mrs Maura Screaton, Chief Nurse

Maura was appointed Chief Nurse at Royal Papworth Hospital NHS Foundation Trust in August 2021. She was previously Deputy Chief Nurse at Cambridge University Hospitals NHS Foundation Trust.

Dr Ian Smith, Medical Director

Dr Ian Smith is the Medical Director of Royal Papworth Hospital. He has particular responsibility for the research direction of the hospital. He has led on the delivery of the Heart and Lung Research Institute a major collaboration with the University of Cambridge and oversaw the establishment of the Papworth Clinical Trials Unit.

Cynthia Conquest, Non-executive Director

Cynthia is an experienced ex NHS Director of Finance with a wide portfolio of NHS experience covering 39 years. She has worked in all aspects of financial services and in all types of healthcare settings; large acute teaching hospitals, specialist hospitals, mental health and community services. She has a high level of experience in all financial and healthcare processes with a specialty in financial management and transformation.

Amanda Fadero, Non-executive Director

Amanda enjoyed an extensive, varied and rewarding career in the NHS for over 40 years and the ethos, belief and love of the NHS remains a strong part of who she is and her ongoing contribution to life and work. Amanda possess valuable experience in leading transformation, managing complexity, using problem solving and conflict resolution to progress and manage change.

18 . Members of the Trustee Board

(continued)

David Jones, Non-executive Director

David is an experienced engineering and technology leader with more than three decades of expertise spanning multiple industries. Based in London, he currently serves as Group Director at the London Stock Exchange Group, where he specialises in productivity, efficiency, and cultural transformation.

Diane Leacock, Non-executive Director

Diane is a qualified accountant with extensive business experience. She has held Finance Director roles at various commercial organisations including the information and publishing group Informa UK, insurance broker Willis Towers Watson and the regional law firm, Ellisons where she has streamlined, grown and transformed various business units. Currently, Diane works as an independent finance consultant, supporting businesses experiencing challenging situations.

Professor Graham Martin, Non-executive Director

Graham is Director of Research (research professor) at The Healthcare Improvement Studies Institute, University of Cambridge, where he leads research on the quality and safety of healthcare services, including how to improve the experiences of patients and healthcare staff. He has over 20 years’ experience as a health services researcher, including previous appointments at the University of Leicester and the University of Nottingham prior to his move to Cambridge in 2018.

Dr Charlotte Paddison, Associate Non-executive Director

Charlotte joined Royal Papworth Hospital NHS Foundation Trust as an Interim Non-Executive Director in December 2024. She brings more than a decade of experience working in senior leadership roles in health services research and health policy. This includes five years as a senior research associate in the School of Clinical Medicine at the University of Cambridge and six years in senior roles at the Nuffield Trust, a politically independent health policy think tank.

Professor Ian Wilkinson, Non-executive Director

Ian Wilkinson is a Clinical Pharmacologist and Professor of Therapeutics in the University of Cambridge. He directs the Cambridge Clinical Trials Unit, and office of Translational Research, and leads the division of Experimental Medicine and Immunotherapeutics at the University of Cambridge. His main research interests are clinical/experimental studies designed to understand the mechanisms causing hypertension and cardiovascular disease, and to develop new treatments.

18.4 The Charitable Funds Committee

The Trustee Board has devolved responsibility for the on-going management of the investment Funds and some other duties to the Charitable Funds Committee. The Charitable Funds Committee Terms of Reference state that its role is to undertake the following duties on behalf of the Corporate Trustee:

19 . Reference and administrative details

Bankers

Barclays – Corporate Banking Centre, PO Box 855, Mortlock House, Histon, Cambridgeshire CB24 9DE

Legal Advisers

Mills and Reeve – Botanic House, 100 Hills Road, Cambridge CB2 1PH

Bevan Brittan – Fleet Place House, 2 Fleet Place, Holborn Viaduct, London EC4M 7RF

Withers LLP – 20 Old Bailey, London EC4M 7AN

External Auditor’s

Ensors Accountants LLP – Victory House, Vision Park, Chivers Way, Histon, Cambridge, CB24 9ZR

Investment Managers

Cazenove Capital – 1 London Wall Place, London Wall, Barbican, London EC2Y 5AU

Internal Auditor’s

BDO LLP, 55 Baker Street, London W1U 7EU

Key Management Personnel Remuneration

The Trustee has concluded that the Trustee Board comprise the key management personnel of the Charity as it is in control of directing and controlling the Charity. Trustee Board members received no remuneration from the Charity for work undertaken as representatives of the Corporate Trustee. Trustee Board members are remunerated by Royal Papworth Hospital in their capacity as directors of Royal Papworth Hospital. No Trustee Board member received any personal expenses from the Charity during the year (2023/24: Nil).

The Charity does not directly employ any staff. Staff that solely work for the Charity are employed by Royal Papworth Hospital NHS Foundation Trust and these costs are recharged to the Charity. See Note 3.4 in the Accounts .

CCLA Investment Management Limited – One Angel Lane, London, EC4R 3AB

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20 . Wider networks and our community relationships

Royal Papworth Charity is one of the 230 member charities of NHS Charities Together, formerly the Association of NHS Charities. NHS Charities Together provides support for NHS charities from across the UK, funding projects that improve services for patients while supporting NHS staff and volunteers both practically and emotionally. As a member Charity, we have the opportunity to discuss matters of common concern and exchange information and experiences, join together with others to lobby government departments, and to participate in conferences and seminars which offer support and education for our staff.

Royal Papworth Hospital

The ability of Royal Papworth Charity to continue its support for Royal Papworth Hospital is dependent on its ability to maintain and increase donations from the general public. Royal Papworth Charity continues to forge strong relationships with members of staff of Royal Papworth Hospital without whose co-operation the ability to make effective contributions would be much diminished.

Fundraising Regulator

Royal Papworth Charity is a member of the Fundraising Regulator which is an independent, non-statutory body that regulates fundraising across the charitable sector in England, Wales and Northern Ireland. Their mission is to enhance and sustain public confidence in charitable fundraising. We recognise the importance of joining this community as Royal Papworth Charity is passionate about delivering best practice in our fundraising efforts.

The Fundraising Regulator also works in partnership with other regulators and representative bodies in the charity and fundraising sectors to build public confidence and ensure consistent fundraising standards across the UK.

Fundraising governance

Royal Papworth Charity reports on charitable fundraising activities to the Charitable Funds Committee which is a committee of the Trustee Board. A quarterly fundraising report is received by the Committee which details current fundraising activities and associated income.

Royal Papworth Charity received no formal complaints this financial year and continues to adhere to the complaints procedure and policy as set out by the Trust. The Charity is registered on the Fundraising Regulator Directory with details available should someone wish to make a complaint.

Royal Papworth Charity recognises the regulations in place to ensure we are doing everything in our power to protect vulnerable people and other members of the public during fundraising activities. This includes mandatory safeguarding training for all staff and volunteers.

We remain compliant with these regulations and support the Fundraising Regulator’s voluntary regulation scheme.

The Charity has donated to the Gambling Commission in support of their work to provide help, advice or support in relation to gambling. The Royal Papworth Lottery is provided by Unity and is promoted in accordance with the Gambling Act 2005. In line with current rules, players must be a minimum of 18 years of age to participate.

Royal Papworth Charity works with third party suppliers to support and deliver our fundraising and campaigns. All new suppliers are required to adhere to the NHS information governance processes and legal agreements are in place with all formal partnerships, including Commercial Participators.

21 . How to contact us and related parties

How to contact us

Registered office :

Royal Papworth Hospital NHS Foundation Trust Royal Papworth Charity Papworth Road Cambridge Biomedical Campus Cambridge CB2 0AY

For Fundraising queries please contact: 01223 639950 papworth.charity@nhs.net www.royalpapworthcharity.com

Registered Charity No: 1049224 (England and Wales)

Related parties

During the financial year 2024/25, Royal Papworth Hospital was the main beneficiary of the Charity and is a related party by virtue of being Corporate Trustee of the Charity. Note 12 to the Accounts provide further detail.

Royal Papworth Charity is grateful for the support of volunteers in the following areas:

Royal Papworth Hospital Charity Annual Accounts 2024/25

NATIONAL HEALTH SERVICE

ROYAL PAPWORTH HOSPITAL

CHARITY

ANNUAL FINANCIAL STATEMENTS 2024/25

The financial statements of the Funds Held on Trust by the Royal Papworth Hospital Charity (Royal Papworth Charity).

FOREWORD

These financial statements have been prepared by the Corporate Trustee in accordance with the Charities Act 2011 (as amended by the Charities Act 2022), the applicable Charities (Accounts and Reports) Regulations 2008 and the Statement of Recommended Practice: Accounting and Reporting by Charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 1 January 2019.

Royal Papworth Hospital Charity is registered with the Charity Commission and includes funds in respect of Royal Papworth Hospital NHS Foundation Trust.

The main purpose of the charitable funds held on trust is to grant income for any charitable purpose relating to the National Health Service wholly or mainly for the services provided by Royal Papworth Hospital NHS Foundation Trust.

40

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Royal Papworth Hospital Charity Annual Accounts 2024/25
Independent Auditor's Report
Opinion
We have audited the financial statements of Royal Papworth Hospital Charity (the Charity) for the
year nded 1 arch 025 hich omprise he tatement f inancial ctivities, he alance
Sheet, the Statement of Cash Flows and the notes to the financial statements, including a summary
of significant accounting policies. The financial reporting framework that has been applied in their
preparation s applicable aw and United Kingdom Accounting Standards, ncluding Financial
Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of
Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the Charity's affairs as at 31 March 2025 and of its incoming
resources and application of resources, including its income and expenditure, for the year then
ended.
 have been properly prepared in accordance with United Kingdom accounting standards, including
FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland; and
¢ have been prepared in accordance with the requirements of the Charities Act 2011
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK))
and applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibilities for the audit of the financial statements section of our report. We are independent
of the Charity in accordance with the ethical requirements that are relevant to our audit of the
financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other
ethical responsibilities in accordance with these requirements. We believe that the audit evidence
we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Corporate Trustee’s use of the
going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating
to events or conditions that individually or collectively, may cast significant doubt on the charity’s
ability to continue as a going concern for a period of at least twelve months from when the financial
statements are authorised for issue.
Our responsibilities and the responsibilities of the Corporate Trustee with respect to going concern
are described in the relevant sections of this report.
41
----- End of picture text -----

----- Start of picture text -----
If we
----- End of picture text -----

----- Start of picture text -----
of financial
----- End of picture text -----

----- Start of picture text -----
¢ Thorough reviewofjournal entries and other adjustments for appropriateness and evaluating the
----- End of picture text -----

----- Start of picture text -----
e Reviewed the minutes taken during the Charity’s Committee meetings.
----- End of picture text -----

5th December 2025

Royal Papworth Hospital Charity Annual Accounts 2024/25

Statement of Financial Activities for the year ended 31 March 2025

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The notes on pages 49 to 69 form part of these financial statements.

All incoming resources and resources expended derive from continuing activities.

45

Royal Papworth Hospital Charity Annual Accounts 2024/25

Balance Sheet as at 31 March 2025

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The annual accounts were approved by the Trustee Board on behalf of the Corporate Trustee and signed on its behalf by:

Signed:

Liz Sanford

Position: Interim Chief Finance Officer Date:

46

Royal Papworth Hospital Charity Annual Accounts 2024/25

Statement of Cash Flows for the year ended 31 March 2025

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Notes to the Financial Statements

1 Accounting Policies

1.1 Basis of preparation and assessment of going concern

The financial statements have been prepared under the historic cost convention, with the exception of investments which are included at fair value.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest thousand.

The financial statements have been prepared on a going concern basis which the Corporate Trustee considers to be appropriate for the following reasons:

The business model of the Charity is such that its charitable activities are limited to those which it has sufficient funds to support from the excess of funding received over the costs of administering the Charity. The Charity therefore has no specific commitments and no committed costs beyond its fixed costs of operation which are detailed in note 3.

The Corporate Trustee considers that there are no material uncertainties about the Charity’s ability to continue as a going concern and is confident that the Charity will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements.

47

Royal Papworth Hospital Charity Annual Accounts 2024/25

The principal accounting policies have been applied consistently throughout the year. The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Key matters relating to the Charity’s financial position are:

The Charity constitutes a public benefit entity as defined by FRS 102.

1.2 Incoming resources

a) All incoming resources are included in the Statement of Financial Activities as soon as the following three conditions are met:

b) Gifts in kind

In all cases the amount at which gifts in kind are brought into account is either a reasonable estimate of their value to the funds or the amount actually realised.

c) Legacies

Legacies are accounted for as incoming resources once the receipt of the legacy becomes probable, that is, ensuring we have received grant of probate and confirmation has been received from the representatives of the estates that payment of the legacy will be made, or property transferred and once all conditions attached to the legacy have been fulfilled.

d) Investment income

Investment income from equity held is apportioned to each fund based upon the average yearly balance of each fund at the end of the period the income is received.

48

Royal Papworth Hospital Charity Annual Accounts 2024/25

1.3 Resources expended and irrecoverable VAT

The financial statements are prepared in accordance with the accruals concept. A liability (and consequently, expenditure) is recognised in the financial statements when there is a legal or constructive obligation, it is probable (more likely than not) that settlement will be required, and the obligation can be reliably measured.

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

a) Charitable activities

Grants payable are payments made to third parties (including NHS bodies) in the furtherance of the objectives of the Charity. They are accounted for fully in the year the commitment arises. Activities undertaken directly are payments made by the Charity in furtherance of the objectives of the Charity. Grant payments are recognised as expenditure when the conditions for their payment have been met or where there is a constructive obligation to make a payment.

A constructive obligation arises when:

b) Costs of raising funds

Costs of raising funds include all expenditure associated with generating incoming resources from all sources other than from undertaking charitable activities. This includes costs of fundraising, trading and associated costs and costs of managing investments.

c) Support costs

Support costs are those costs that do not themselves produce or constitute the output of the Charity but are necessary to deliver an activity. These include staff costs, costs of administration, software costs and external audit costs. Support costs have been apportioned between costs of raising funds and charitable activities. These costs are apportioned across charitable activities in proportion to total spend. For the method of apportionment, see note 3.3.

d) Staff costs

The Charity does not directly employ any staff. Staff that work on the Charity are employed by the Royal Papworth Hospital NHS Foundation Trust and these costs are recharged to the Charity. See note 3.4.

1.4 Structure of funds

Where there is a legal restriction on the purpose to which a fund may be put, the fund is classified in the financial statements as a restricted fund. The major funds held within these categories are disclosed in note 10. Funds where the capital is held to generate income for

49

Royal Papworth Hospital Charity Annual Accounts 2024/25

charitable purposes and cannot itself be spent are accounted for as endowment funds. There are no endowment funds held during this accounting period.

Other funds are classified as unrestricted funds. Funds which are not legally restricted but which the Corporate Trustee has chosen to earmark for set purposes are classified as “designated” within unrestricted funds.

The reclassification of restricted funds is approved by the Corporate Trustee and is compliant with Charity Commission NHS Charities guidance.

1.5 Fixed asset investments

Fixed asset investments are initially recognised at their transaction value (historic cost) and are subsequently measured at their fair value (market value) as at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.

1.6 Realised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value (or date of purchase if later). Unrealised gains and losses are calculated as the difference between market value at the year end and opening market value (or date of purchase if later).

1.7 Stock

Stock is recognised in the financial statements at the lower of cost and net realisable value, using the first in first out (FIFO) method. No provision has been made for slow moving, obsolete or defective stock during the year.

1.8 Corporation Tax

The Charity is a registered Charity, and as such is entitled to certain tax exemptions on income and profits from investments and surpluses on any trading activities carried on in furtherance of the Charity’s primary objectives, if these profits and surplus are applied solely for charitable purposes.

1.9 Financial instruments

The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash, and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement

50

Royal Papworth Hospital Charity Annual Accounts 2024/25

constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.

1.12 Cash and cash equivalents

Short term, highly liquid investments are included as cash at bank and in hand when the notice period of the account is 90 days or less and is cash investment.

1.13 Debtors

Debtors are amounts owed to the Charity. They are measured based on their recoverable amount.

1.14 Creditors

Creditors are amounts owed by the Charity. They are measured at the amount that the Charity expects to have to pay to settle the debt.

Amounts which are owed in more than a year are shown as long-term creditors.

1.15 Provisions

A provision arises when there is a constructive obligation. See note 1.3(a) for the conditions required for a constructive obligation.

2. Critical accounting estimates and judgements

In the application of the charity's accounting policies, the Trustee is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

51

Royal Papworth Hospital Charity Annual Accounts 2024/25

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods .

2.1 Prior year adjustments

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Notes to the reconciliation:

The above adjustment relates to historic over accruals of legacy income as a result of income being recognised before all recognition criteria has been met.

52

Royal Papworth Hospital Charity Annual Accounts 2024/25

2.2 Donations and legacies


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Investment income from short term investments and equity are apportioned to each fund based upon the balance of that fund at the end of the period the income is received.

53

Royal Papworth Hospital Charity Annual Accounts 2024/25

2.4 Analysis of income from other trading activities


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2.5 Analysis of Income from other fundraising activities

Income has slightly increased compared to last year due to lottery income received of £11k in year.

54

Royal Papworth Hospital Charity Annual Accounts 2024/25

3. Expenditure

Accounting Policies Expenditure

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent; Admin costs are allocated based on fund balances.

3.1 Analysis of Charitable activities

The Research expenditure relates mainly to commitments for ongoing and new research projects.

Support costs are apportioned across charitable activities and raising funds. For the method of apportionment see note 3.3.

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During the year the Charity made 264 grants to individuals and 19 grants to institutions. (2023/24: 223 to individuals and 17 to institutions).

55

Royal Papworth Hospital Charity Annual Accounts 2024/25

3.2 Analysis of expenditure of raising funds

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56

Royal Papworth Hospital Charity Annual Accounts 2024/25

3.3 Analysis of Support costs

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Support costs are apportioned across raising funds and charitable activities in proportion to the total spend for the year in each category.

The Charity appointed Ensors as external auditors of the Charity. The audit fee for the statutory audit is £15,950 (2023/24: £14,000), excluding VAT.

57

Royal Papworth Hospital Charity Annual Accounts 2024/25

3.4 Staff costs and employee benefits

'E)E+,-E/01E2,-
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Included within seconded staff costs are those costs for staff working exclusively for the Charity, but whose contracts are with and paid by Royal Papworth Hospital NHS Foundation Trust. The average number of employees for 2024/25 is 7 (2023/24: 6). These staff members belong to the NHS Pension Scheme which is an unfunded defined benefit Scheme. For more information on the NHS Pension Scheme refer to the Royal Papworth Hospital NHS Foundation Trust annual report and accounts. The recharge from Royal Papworth Hospital NHS Foundation Trust includes the employer contributions to the scheme.

No employee was paid more than £60,000 during the year (2023/24: Nil).

3.5 Trustee remuneration, benefits and expenses

Trustee Board members receive no remuneration from the Charity for the work undertaken as representatives of the Corporate Trustee. Trustee Board members are remunerated by Royal Papworth Hospital in their capacity as directors of Royal Papworth Hospital. However, they can claim expenses to reimburse them for costs that they incur in fulfilling their duties from the Charity.

No Trustee Board member received any expenses during the year (2023/24: Nil).

58

Royal Papworth Hospital Charity Annual Accounts 2024/25

3.6 Grants payable

!"#$%'E$F#GH,H-.HL
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?"T$%@$SA"E#BCabF"2FP$#N"F
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4. Change in Resources available for Charity use

Change in Resources available for Charity use
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59

Royal Papworth Hospital Charity Annual Accounts 2024/25

5. Analysis of Fixed Asset Investments

5.1 Fixed Asset Investments

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,A-./#NA%2/A#345-6%
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The valuation of the investments is at 31 March 2025 and may not be realised on the date the investments are disposed of. The investments are subject to market risk and changes in the global economic markets which has driven the valuation of investments slightly down during 2024/25.

The historic cost represents the value of shares after purchases and sales at year end before the shares are revalued.

At 31 March 2025 1,121,844 shares (31 March 2024 – 10,506,184 shares) were held in COIF Charities Ethical Investment Fund Account with a market value of £5,814,520 (31 March 2024 - £5,914,982 which were held by SUTL Cazenove Charity Responsible, MultiAsset Fund).

5.2 Market value

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60

Royal Papworth Hospital Charity Annual Accounts 2024/25

6.
Analysis of Debtors
7.
Cash and cash equivalents
8.
Analysis of Creditors
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61

Royal Papworth Hospital Charity Annual Accounts 2024/25

9. Analysis of provision for liabilities

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The Charity awards a significant number of grants during the year. Many grants are awarded and paid out in the same financial year. However, some grants, especially those relating to research and development or those to fund specific staff posts are multi-year grants paid over a longer period.

9.1 Explanation of movement in unused amounts reversed in year

In March 2024 the charity agreed to fund a grant for Ex Vivo Lung Perfusion for £373,320. During the year it was decided this grant was no longer needed as the funding for the project would come from elsewhere. This grant provision was then released in September 2024, leading to a significant variance both in unused amounts reversed during the year and charitable expenditure (Patients Welfare & Amenities grant funded activity).

62

Royal Papworth Hospital Charity Annual Accounts 2024/25

10. Analysis of funds

10.1 Analysis of funds – Restricted funds

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63

Royal Papworth Hospital Charity Annual Accounts 2024/25

10.2 Detail of Material Funds – Restricted funds

!"#$%&D%D() +$,-./0N/&)%&D%N2$%)"N(.$%")*%0(.0&,$%&D%$"-2%D()

!"#$B"CD!"#EDFGH$ FGH$. $2H"1E$ P2# 14E dEHEPB1 2P !"#$B"C eE#fBCE. "1 >2V"M R"Lc2#14D:2.LB1"M I!ID-#"H.LM"H1"1B2HDFGH$ FGH$.D$2H"1E$DP2#D14EDI!ID-#"H.LM"H1DR#2S#"TTE >2V"MDR"Lc2#14D:2.LB1"MD-#"H.LM"H1D F2#D14EDdEHEPB1D2PD-#"H.LM"H1DeE#fBCE.D"1D>2V"MDR"Lc2#14D:2.LB1"M FGH$ UGHSDIEPEHCEDFGH$ FGH$.D$2H"1E$DP2#D#E.E"#C4D"H$DE$GC"1B2HD.LECBPBC"MMVD#EM"1BHSD12D 14EDUGHSDIEPEHCEDiHB1 RGMT2H"#VD:VLE#1EH.B2HDFGH$ FGH$.D$2H"1E$DP2#D14EDRGMT2H"#VD:VLE#1EH.B2HD.E#fBCED"H$D "..2CB"1E$D#E.E"#C4 -4ED;#ESD2V"MDR"Lc2#14D:2.LB1"M =B.B2HDF2#D>E.E"#C4DFGH$ F2#D14EDdEHEPB1D2PD"MMD#E.E"#C4D"C1BfB1BE.D"1D>2V"MDR"Lc2#14D :2.LB1"MD#EM"1BHSD12D14EDL#EfEH1B2HhD1#E"1TEH1D"H$DCG#ED2PD C"#$B2142#"CBCDBMMHE..D"H$D$B.E".E.g :U>?DR#2@EC1 F2#D.GLL2#1BHSDPG1G#ED#E.E"#C4DcB14BHD14ED:U>? UA;BBCCaD;b FGH$.D$2H"1E$D12D>2V"MDR"Lc2#14D:2.LB1"MDDP2#D14EDLG#L2.ED2PD PGH$BHSDTE$BC"MD2LE#"1B2H.g

10.3 Unrestricted funds

Unrestricted funds amounting to £3,224k (2023/24: £3,896k) consist of 2 general funds totalling £1,326k (2023/24: £2,107k) and 32 designated funds totalling £1,898k (2023/24: £1,789k).

Designated funds are earmarked for future direct payment for staff and patients within Royal Papworth Hospital NHS Foundation Trust directorates.

Funds have arisen from donation, legacies, and fundraising activities.

10.4 Analysis of unrestricted undesignated funds

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)*)+ )G)+
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"7!)8*
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64

Royal Papworth Hospital Charity Annual Accounts 2024/25

10.5 Analysis of unrestricted designated funds

10.5
Analysis of unrestricted designated funds		 10.5
Analysis of unrestricted designated funds
!"#"ABCE
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65

Royal Papworth Hospital Charity Annual Accounts 2024/25

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11. Contingencies and Capital Commitments

66

Royal Papworth Hospital Charity Annual Accounts 2024/25

There are no capital commitments in 2024/25 (2023/24: £nil). There are no contingent liabilities in 2024/25 (2023/24: £nil).

12. Related Party Transactions

The Royal Papworth Hospital Charity has made revenue and capital payments to the Royal Papworth Hospital NHS Foundation Trust during 2024/25.

The amount paid was £1,112k (2023/24: £1,558k) and there was a creditor balance at the end of the year of £155k (2023/24: £488k).

The Charity is a subsidiary of Royal Papworth Hospital NHS Foundation Trust, the parent entity.

The consolidated group accounts for financial year 2024/25 can be found on Royal Papworth Hospital NHS Foundation Trust’s website http://www.royalpapworth.nhs.uk/ Royal Papworth Hospital NHS Foundation Trust is the Corporate Trustee of Royal Papworth Hospital Charity.

During the year only one of the ex-officio Trustee Board member or members of the key management staff or parties related to them has undertaken a donation of £750 with Royal Papworth Hospital Charity. No donations were made by related parties during the prior year.

13. Reconciliation of net movement in funds to net cash flow from operating activities

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14. Post Balance Sheet Event

There are no post balance sheet events to report.

67

Thank you!

Only together can we continue to fund the delivery of transformational heart and lung medicine at Royal Papworth Hospital.

Your support is greatly appreciated by everyone at Royal Papworth Hospital and will enable us to move forwards as a globally renowned centre of excellence, delivering the best possible care and treatment for our patients.

From everyone at Royal Papworth Charity, thank you for your continued generosity, kindness and support throughout the past year.

For and on behalf of the Corporate Trustee

Eilish Midlane, Chief Executive, Royal Papworth Hospital

On behalf of the Trustee Board Royal Papworth NHS Foundation Trust

Date:

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Thank you to
our fantastic
fundraisers
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Royal Papworth Hospital NHS Foundation Trust Royal Papworth Charity, Papworth Road, Cambridge Biomedical Campus, Cambridge, CB2 0AY

01223 639950 papworth.charity@nhs.net www.royalpapworthcharity.com

Registered Charity No: 1049224 (England and Wales)