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← Manchester University NHS Foundation Trust Charity

2025-03-31-accounts

re. a AE idee Charitable Funds Annual Report 4 ' , \, = 2024/25*

Supporting Excellence in Treatment, Research, and Care

In support of:

North Manchester General Hospital Manchester Royal Infirmary Wythenshawe Hospital Royal Manchester Children’s Hospital Manchester Royal Eye Hospital

Saint Mary’s Hospital University Dental Hospital of Manchester Withington Community Hospital Trafford General Hospital Altrincham Hospital

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Contents 4e’
Chair’s Welcome 04
Our Aims 06
Celebrating Our Supporters 08
Working Together to Make a Difference 12
How to Support Us 13
Investing in Treatment, Research, and Care 14
Structure, Governance, and Management 22
Financial Review 28
Funding Summary 28
Reserves Policy 29
Investments 30
Corporate Trustee Responsibilities Statement 31
Independent Auditor’s Report 32
Statement of Financial Activities for Year Ended 31st March 2025 36
Balance Sheet as at 31st March 2025 37
Cash Flow Statement for Year Ended 31st March 2025 38
Notes to the Accounts 39
Contact Details for the Charity, Trustee and Advisers 54

Manchester University NHS Foundation Trust Charity is registered with the Charity Commission as Manchester University NHS Foundation Trust Charity. Registered charity number 1049274.

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Chair’s Welcome

I am proud to share with you our Annual Review, showcasing some of the remarkable support Manchester Foundation Trust Charity has received over the past year. The Charity’s outstanding impact on our hospitals, patients, and staff continues to be a profound source of pride.

This would not have been possible without the generous support of individuals, families, community groups, companies, and charitable trusts. Our sincere thanks to each of you for helping us continue to support the world-class treatment, research, and care delivered across our hospitals and community services.

The Charity’s income from donations and fundraising activities in the year was £3.38 million and we spent £4.27 million on making a difference to the lives of patients and their families and our staff during 2024/25. Our Charity team has worked tirelessly to raise these funds, partnering closely with hospital colleagues to ensure every penny makes a meaningful difference.

The Charity has funded a wide range of resources for our staff, from improving staff spaces to expanding opportunities for staff to take part in community-based fitness and cultural events. Our pioneering arts initiatives, run by Lime Arts, our hospital arts organisation, also continued to deliver excellent creative opportunities for staff and patients.

Funds raised by our Charity have also helped to buy equipment and enhance the care environment for patients and their families. We have, for example, funded the purchase of a specialist ultrasound scanner to diagnose complex cardiac conditions in newborns, equipment to enable more precise testing of clinical samples and a resuscitation mannequin for advanced skills training. Our support has also refurbished the sensory room at North Manchester General Hospital’s Children’s Ward, giving patients a relaxing space away from the busy ward.

In addition to funding state-of-the-art equipment and facilities, our Charity supports pioneering research and innovation at MFT, driving positive change in health and care, expanding research capacity, nurturing future leaders, and embedding public involvement to improve outcomes and reduce inequalities.

One of this year’s major milestones was breaking ground on the National Breast Imaging Academy training facility in November 2024, an important step toward delivering this nationally significant project. Recognising the Academy’s vital, national role in the future of breast cancer imaging and research, the Charity committed advance funding to kick-start construction while fundraising continued with our partner, Prevent Breast Cancer. We remain on track to secure the remaining funds ahead of the building’s completion in Autumn 2025.

One of my proudest moments of the year was the grand opening of the rooftop play area at Royal Manchester Children’s Hospital. This inspiring project was led by our incredible young supporters, Hughie and Freddie (aged 13 and 12 when the appeal launched), whose energy, compassion, and determination – shaped by Hughie’s own journey with leukaemia – captured hearts across the country. With the support of our dedicated Charity team, they brought this vibrant, safe space to life, giving young patients a place to play, laugh, and simply be kids, even during their hospital stay. The play area officially opened at a joyful celebration in September 2024.

Every year, I’m astonished at the number of staff who support the NHS Blue Wave at the Great Manchester Run – and this year was no exception. More than 300 staff took part in this brilliant public show of support for our family of hospitals. It continues to be one of my favourite events to support and is always a notable highlight to my year.

It has also been an honour to welcome new corporate partners throughout the year, including Carousel PR, Cloud M, The Gym Group, Kudos Showers and Lift Financial. The support we receive from generous companies and their staff throughout the year is instrumental in achieving a real difference for patients and staff.

Capping off an incredible year was our Champions for Children Gala Dinner, hosted with our partner, Foundation 92, the Class of 92-backed charity. It was an evening of celebration and generosity, raising vital funds for projects that empower children and young people across our city. You can read more about this remarkable event and its impact on page 11.

From bake sales to marathons, physical challenges to attending our fantastic fundraising events, our supporters have gone above and beyond to help make our work possible. And to the families whose loved one made a gift in their Wills, we thank you for trusting us to make a lasting legacy in their name.

As we reflect on the previous years’

achievements, we are reminded how grateful we are to all our supporters. Together we make a huge difference to the 2 million patients who use our services each year across Greater Manchester and beyond. Your generosity enables us to make our hospitals and community services outstanding centres for treatment, research, and care. On behalf of our patients, their families, and our staff, I extend sincere gratitude for all you do to support our Charity.

Kathy Cowell OBE DL | Trust Chair

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Our Aims

The aim of Manchester University NHS Foundation Trust Charity is to support continued excellence in treatment, research, and care by enhancing what is already provided by the NHS.

The Charity makes grants which benefit the hospitals, community services, patients, visitors, and staff of the Trust. The hospitals are North Manchester General Hospital, Manchester Royal Infirmary, Wythenshawe Hospital, Royal Manchester Children’s Hospital, Manchester Royal Eye Hospital, Saint Mary’s, University Dental Hospital of Manchester, Withington Community Hospital, Trafford General Hospital and Altrincham Hospital. The Trustee has invested money with the aim of enhancing the environment, including supporting art projects, throughout the hospitals.

The section of the public which benefits from our work is the patients, service users, staff and visitors in our hospitals and community services but further public benefit can be demonstrated from the results of research undertaken and supported by the Charity. Education for staff and patients is regularly funded through the Charity and is another example of resources spent for the ultimate benefit of a significant section of the general public.

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The principal purpose of the NHS is to deliver services to patients, and so use of the charitable funds is focused on enhancing the experience over and above what the NHS would normally provide to patients, their families and friends and the wider community. The Trust’s aim is to provide all patients, visitors and staff with a quality service that meets the highest professional standards, while also respecting and responding to their individual needs. We want to be innovative in the treatment we provide and the environment we create.

By working in close partnership with the Trust, the Charity can prioritise and ensure funding is allocated to areas where it can make a real difference to the care and treatment of patients across our family of ten hospitals.

Setting and Achieving Our Fundraising Objectives

The Charity supports all of our hospitals and clinical services and has three main areas of work. It provides state-of-the-art equipment for diagnosis and treatment, supports research projects to improve our understanding of illnesses, and helps to create an environment that’s more friendly and welcoming to our patients, their families, and visitors.

The Charity also raises funds to support the wellbeing of the Trust’s 28,000 strong workforce, ensuring our staff can continue to care for our patients and their families.

In 2024/25, a key focus of our efforts was securing the funding needed to make our Build to Beat Breast Cancer Appeal a reality. Following advance funding from the Charity to get the project underway, construction began in November on the National Breast Imaging Academy, a cutting-edge national training centre for the next generation of breast clinicians.

Set to officially open in 2025, the state-of-theart facility will not only strengthen the national breast services workforce but also:

Crucially, as an extension of the Nightingale Centre, the Academy will enable an additional 5,000 new patients and 8,000 follow-up patients to be seen each year. This will significantly enhance local breast services and, most importantly, save many more lives.

Another flagship initiative for the Charity was the

Champions for Children Gala Dinner, delivered in partnership with Foundation 92, the Class of 92-backed charity. Hosted in Manchester’s renowned Victoria Warehouse in March 2025, hundreds of supporters came together to raise more than £260,000 for children and young people who are supported by both charities on their journey towards full, vibrant and independent lives.

The money raised will support Foundation 92’s work with young people in the community through sport and education, as well as two projects at Royal Manchester Children’s Hospital. It will help fund the hospital’s Youth Service, which supports people aged 11 and over with long-term health conditions. It will also support children and young people in Galaxy House, the hospital’s inpatient mental health unit, by funding creative workshops that use music and art to build confidence, self-esteem, and a sense of identity.

Grant Making Policy

The Trust Board approves the scheme of delegation against which the managers and officers of the Trust may approve grants. All grants in excess of £50,000 are approved directly by the Charitable Funds Committee. Governance arrangements are covered in more detail on pages 22-27.

Core Activities

The Charity’s expenditure in 2024/25 was allocated in the following ways:

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57% 7%
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Capital expenditure

Research

Contributions to hospital 7% towards research capital expenditure programmes and amounted to 57% research salary costs. of total expenditure – 14% was spent on the purchase of medical and IT equipment, and contributions to Trust-wide refurbishments were 43%. The capital expenditure was all spent on improving equipment and the patient environment.

17% 19% Patient related Staff related expenditure expenditure

19% was contributed, with a significant proportion spent on training and education.

17% helped to deliver improvements to the patient experience.

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Celebrating Our Supporters

Over the course of the year we saw some incredible fundraising taking place in support of our family of hospitals. Here are just some of the fantastic feats our supporters got up to.

Spring

We started the year by welcoming new corporate partners Carousel PR, Cloud M, The Gym Group, Kudos Showers and Lift Financial who had all chosen us as their Charity of the Year, dedicating a year of fundraising to support our family of hospitals.

Throughout the spring, 10 runners completed the iconic London Marathon, and 25 supporters took on the Manchester Marathon, including one dressed as Bob the Builder! They were rapidly followed by our Team MFT runners who were out in force again at the 2024 Great Manchester Run, including more than 300 of our hospital colleagues taking part in the impressive NHS Blue Wave.

Tom Finkill held his fourth annual ‘Never Gonna Quiz You Up’ event in support of Royal Manchester Children’s Hospital, bringing his fundraising total to more than £20,000 to date, and we partnered with the Tour de Manc Cycling Sportive again to raise funds for our hospitals.

We held a special ceremony to celebrate volunteer group, the League of Friends of Wythenshawe Hospital, to recognise their extensive fundraising achievements over the past 65 years and unveiled a plaque in their honour.

Manchester United goalkeeper André Onana paid a visit to our children’s hospital to donate specially designed Manchester United shirts which had been modified into medical-grade surgical gowns and met some of the patients set to use them.

A team from NatWest Remediation Operations took part in our sponsored Walk Your Way Challenge during National Walking Month, taking on a 10km sponsored walk around Dovestone Reservoir to raise funds for Royal Manchester Children’s Hospital.

Amy Warrener completed the Three Peaks Challenge in under 72 hours and cycled the 720km between them in her self-coined Peaks & Pedals challenge, raising money for Royal Manchester Children’s Hospital along the way!

Two Partners from chartered accountancy firm UHY Hacker Young took on a gruelling challenge – Dave Kendrick and Peter Williams took on the ROC Ultra Marathon in Wales which includes a 1.5km swim, 50km bike ride, 12km trail run to the summit of Snowdon, 50km cycle back to the start area before a final 1km sprint to the finish line!

Jenny Congdon completed the English Channel Relay in gratitude for the care her daughter Elsie received at Royal Manchester Children’s Hospital, completing her swim in just over 12 hours. And the team at local café bar Navarro Lounge embarked on a month of fundraising under the title of ‘Lounge Aid’, with initiatives including raffles, bake sales and sponsored events.

Summer

Employees from Microsoft hosted a series of digital skills sessions for patients at our children’s hospital. The team of volunteers delivered interactive seminars on a range of topics including AI, coding, personal brand and interview skills, all geared towards equipping our young patients with skills for the future.

Paul Tierney and his team of fellow cyclists, Lottie’s Legends, took part in the 60-mile Manchester-to-Blackpool Bike Ride. Meanwhile pupils from Pownall Green Primary School organised a sponsored cycle for Royal Manchester Children’s Hospital, in support of a pupil who is receiving treatment there.

Patrick Hanrahan hiked 76 miles from Shirebrook to Skegness to raise funds for Royal Manchester Children’s Hospital in gratitude for the care his grandson has received, whilst Kim Burns organised a charity football match with the Jet2 Allstars to raise funds for Saint Mary’s, and personal trainer Daniel Bui took on Tough Mudder in support of Manchester Royal Infirmary.

Fifteen-year-old Freya Wilson set herself the brave challenge of running 100km in a month, whilst gearing up for her second brain surgery to remove the remainder of a benign brain tumour. Freya, who raised over £2,000, set herself the challenge after her first operation because she wanted to say thank you for the care she had received.

We successfully closed our Play Appeal to refurbish the outdoor rooftop inpatient play area at Royal Manchester Children’s Hospital, with young fundraisers Hughie and Freddie, joining Chair Kathy Cowell OBE DL, actor Catherine Tyldesley, and Mrs Diane Hawkins JP LLB, His Majesty’s Lord-Lieutenant of Greater Manchester, amongst others, for the ceremonial ribbon cutting.

As the summer came to a close, 70 brave supporters took part in our Heroes at the Hyatt sponsored abseil, descending 19-storeys down the Hyatt Regency Hotel, based just a short distance from our Oxford Road Campus hospitals. We were also chosen as the official charity partner for the 2024 City of Manchester Business Awards, as well as being nominated as the beneficiary of jeweller DM Robinson’s wellness event, which raised over £4,000 for our Build to Beat Breast Cancer Appeal.

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Celebrating Our Supporters

Autumn

Prav Patel raised funds for North Manchester General Hospital by completing not one but two half-marathons in just one month, including the San Sebastián Half Marathon in Spain! Mark Clough cycled 600 miles from Manchester to Paris, in just six days, to raise funds for Royal Manchester Children’s Hospital on behalf of the Ace Grace Foundation, whilst Peter Chomczuk took on the Peak Divide ONEr 76KM challenge, running from Sheffield to Manchester in a single day to raise funds for Saint Mary’s.

Staff and pupils from Loreto Grammar School took part in the Altrincham 10km to raise funds for our hospitals, whilst students from Cheadle Hulme School Sixth Form organised a series of fundraising initiatives including a sustainable fashion show which combined fashion with music, dance, and visual arts, and featured pieces made by students.

We also attended the Spirit of Manchester Awards hosted by Macc, Manchester’s local voluntary and community sector organisation, where we were shortlisted in the Community and Business Collaboration category for our four-year £3million partnership with Peninsula Group.

Eight nurseries that are part of the Kids Zone Group took part in their annual sponsored PJ Week, this year raising over £5,000 for Royal Manchester Children’s Hospital, and more than 300 supporters took part in our sponsored Lantern Walk event, which was sponsored by Happy Linen Co and Illumina.

Lydia Moffatt and her boyfriend, Jake Eadsforth, hosted a family fun day and sponsored chest wax to show their gratitude for the care their daughter Renee received at Royal Manchester Children’s Hospital, whilst Lydia’s brother took on the challenge of running 5km every day in November to help boost their fundraising total.

Also in the autumn, Paramount Global pledged funding towards the creation of a new MediCinema to bring the therapeutic power of cinema to patients cared for in our Oxford Road Campus hospitals. Paramount Global made the announcement as part of its legacy to Manchester following the 2024 MTV Europe Music Awards which took place in our city in November.

Work also began on the construction of the National Breast Imaging Academy following our three-year Build to Beat Breast Cancer Appeal to raise the £3.9m for the build. The ground break ceremony was led by our Chair Kathy Cowell OBE DL, who was joined by breast cancer survivor Rebecca Hartley, Coronation Street actress Sue Cleaver, and Wythenshawe and Sale East MP Mike Kane. The Academy building will provide a home for a national training programme for breast imaging specialists, training 50 additional imaging staff from apprentice level through to radiographers every year.

Winter

As the dark nights set in, 400 guests attended our annual Carols in the City event at Manchester Cathedral, and players from both Manchester City and Manchester United football clubs visited patients in Royal Manchester Children’s Hospital with gifts.

Long-term supporter Peter Behan hosted his annual online fundraising event, the Twitch Charity Raid Train, in which multiple streamers come together to host charity streams in dedicated time slots. St. Augustine’s CE Primary School in Monsall organised a sponsored silence, and students from Loreto Sixth Form College in Altrincham performed at a local Makers Market to raise funds.

The Geddes family from Stockport organised a festive fundraising event for their neighbours, in gratitude for the care their son Hugo has received in our hospital, and Gandeys Circus raised funds for our hospitals at their Snowstorm Firebird Ice Show. Meanwhile, Elswick United Reformed Church in Preston organised a charity concert in support of Manchester Royal Infirmary.

As we approached the end of 2024-25, we hosted our Champions for Children Gala Dinner in partnership with Class of 92-backed charity Foundation 92. The event, attended by businesses from across the region, raised over £260,000 for children and young people cared for at Royal Manchester Children’s Hospital, alongside Foundation 92’s work to deliver sport and education to young people in the community.

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Working Together to Make a Difference

Charitable Trusts

Manchester Foundation Trust Charity has been very fortunate to receive support from charitable trusts over the last 12 months. Some of the incredible support we have received includes:

Volunteers

Celebrity Support

We are always grateful to those who kindly give up their own time to help us – the hours donated by volunteers help us to make an enormous difference to the services that we provide and the funds that we raise each year.

The Charity feels very fortunate to receive support from many celebrities who kindly lend a hand by getting involved in events and campaigns to help us to raise awareness of our cause.

This year, our thanks go to actors John Thomson, Catherine Tyldesley, Jennie McAlpine and Antony Cotton, as well as radio presenter Mike Toolan and Manchester United goalkeeper, André Onana. The Charity has also been privileged to enjoy the support of sports teams. In the lead up to the festive season, patients at Royal Manchester Children’s Hospital were delighted to receive visits from Sale Sharks Rugby Club as well as players from Manchester City and Manchester United football clubs.

In the past year, volunteers have helped us at many of our live events. We would also like to thank our volunteer fundraisers who donate their time and their skills to help us make a difference by raising funds for our family of hospitals.

How to Support Us

There are many ways in which people can support any one of our family of hospitals and community services, by giving their money, time, or talent.

Gift Aid

Making a Donation

To donate please visit mftcharity.org.uk or call the fundraising team on 0161 276 4522.

Last year we claimed thousands of pounds in Gift Aid. If you are a UK taxpayer and make a simple declaration, for every £1 donated, the Charity receives 25p of Gift Aid. In 2024/25 we were able to claim £98,038 in Gift Aid (£30,970 in 2023/24).

Gifts in Memory

Many thousands of pounds are donated each year to our hospitals in memory of patients who have died. The funds are used to improve facilities or buy equipment that will benefit our patients, so creating something very positive out of a sad personal loss.

For information about Gift Aid, legacy donations, and the many other ways you could support the hospitals, please call the Charity Office on 0161 276 4522.

Legacy Support

A Big Thank You

Legacy gifts provide a valuable income source for the Charity, which can allow us to plan for the future and benefit as many patients as possible. A legacy can be left to a specialist area of work in accordance with the donor’s wishes – even the smallest legacy can have a lasting impact on our work across our family of hospitals and community services.

On behalf of the patients, families, and staff who have benefited from the improved services and environment provided from fundraising, donations and legacies, the Charity would like to thank all individuals, companies, and other organisations that have supported us. You really have made a difference to our hospitals and community services – together we have achieved great things.

Gifts left to the Charity in a Will help us to fund vital work at our hospitals to ensure that we are continuing to make a difference and supporting excellence in treatment, research, and care.

As a Charity we are dedicated to making things better and giving our patients the best experience possible; gifts in Wills allow us to take great strides towards achieving this.

In the 2024/25 financial year we received £1,043,000 in legacy gifts (£2,128,000 in 2023/24).

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Investing in Treatment, Research, and Care

The Latest Equipment and Facilities

Charity funds have been spent on a wide range of equipment, activities, training, and events to help patients and their families, and to support our staff. Here are just a few examples of how the money has been allocated in 2024/25.

The Charity awarded funds to purchase a range of specialist equipment to care for sick babies at Saint Mary’s and its managed services. It also purchased equipment for use at North Manchester General Hospital and Wythenshawe Hospital. Equipment purchased included:

The Charity committed £83,323 to purchase an OMFS-D Medical Printer. This state-of-the-art printer is used in clinics to create detailed 3D models and tools that help doctors plan and perform surgery on the face, jaw, and mouth. It can make custom-fit guides, implants, and other parts designed specifically for each patient. This helps doctors see and practice the surgery ahead of time, making procedures more accurate and improving recovery and results.

The Charity has also committed £53,584 to purchase a Cardiorespiratory Diagnostic System, a cutting-edge tool that helps clinicians evaluate and diagnose a wide range of cardiopulmonary conditions.

Equipment and events to enhance the experience of children across Royal Manchester Children’s Hospital and its managed clinical services was also made possible through charitable funding, including:

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At the Forefront of Research and Innovation

Research and Innovation to Drive Positive Change in Health and Care for all

One of MFT’s five strategic aims is to deliver world-class research and innovation that improves people’s lives.

Our research and Innovation (R&I) Team is shaping the future of the NHS, transforming the quality of care we provide, and driving positive change in health and care for all.

We have developed pioneering infrastructure and partnerships to nurture clinical and commercial R&I success and provide new insights, innovations, products, and services to our patients and research participants. We continue to be at the cutting-edge of healthcare research, innovation, and life sciences in the UK and across the world.

MFT hosts one of the largest and most diverse National Institute for Health and Care Research (NIHR) portfolios in the country, comprised of:

Investment from our Charity has enabled R&I to establish new research projects, structures, and careers to benefit our staff, patients, and communities.

Expanding Research Capability and Capacity at North Manchester General Hospital

Thanks to investment from our Charity, communities in North Manchester, and beyond, are benefitting from increased access to cutting-edge research delivered by the NIHR Manchester Clinical Research Facility (CRF) at North Manchester General Hospital.

The funding will support research delivery to improve the prevention, management and treatment of diseases, and increase our capacity to deliver commercial clinical trials, bringing innovative tests, technologies and treatments to people earlier.

Enhancing the facility will ensure our research teams can offer a broader range of clinical trials across different disease areas and provides opportunities for collaborative working across the other Manchester CRF sites.

This will provide a major step change in helping to reduce health inequalities in the area.

Developing the Next Generation of Research Leaders

Thanks to a generous donation from the Houghton Dunn Charitable Trust, which has been a great supporter of our Charity, we were once again able to offer another round of pump-prime fellowships.

Five recipients, at different career stages, were provided with flexible funding to best suit their needs and develop their skills, knowledge, and passion for their research area, with the support of our expert and experienced supervisors across MFT.

The success of the fellowships continues way beyond the initial funding stage, enabling researchers to enhance their career through further grants.

“Thanks to the Houghton Dunn Research Fellowship, I completed recruitment for my study and stored the samples for further experiments, which supported my successful application for additional funding.”

Steve Rogers, Consultant Vascular Scientist

Embedding PPIE at the Heart of Research and Innovation

Patient and Public Involvement and Engagement (PPIE) across MFT R&I and its hosted NIHR infrastructure is led by Vocal, a not-for-profit organisation bringing people and health research together for everyone’s benefit.

The Charity is supporting a 12-month role within Vocal to strengthen PPIE in MFT-led research.

The role has:

This varied infrastructure enables closer working with partner NHS Trusts and academic institutions, providing greater opportunities to involve more people from across Greater Manchester, and beyond, in research and innovation.

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Creating a Caring Environment

The Charity continues to play a vital role in supporting the physical, mental, and emotional wellbeing of our staff – because when we care for them, they’re better equipped to care for others and deliver outstanding patient care.

Funding has been used to improve the environment at North Manchester General Hospital’s Children’s Ward. A grant received from The Eric Wright Charitable Trust made it possible for the Ward’s well-loved sensory room to receive a much-needed facelift. The room was entirely redesigned and updated, providing a restful, relaxing space for patients and families to spend quiet time away from the ward.

The Charity has committed funding for Ward 76 at Royal Manchester Children’s Hospital to install virtual skylights in one of its patient bays, an exciting step toward enhancing the hospital environment. These innovative skylights use advanced LED lighting to mimic the natural movement of sunlight across the day, creating the soothing illusion of a real sky above. For paediatric inpatients, this transforms a clinical, windowless space into a calming, uplifting environment that helps reduce anxiety, improve sleep, and support emotional wellbeing. With no access to natural light in the bay currently, the team is confident that this upgrade will significantly enhance the experience and comfort of children who are unable to leave the ward during their stay.

Lime Arts is MFT’s multi award-winning arts and health organisation with global recognition for excellence in the delivery of creative projects in hospital and community healthcare settings. There is clear evidence that accessing the arts improves personal wellbeing and self-care and our Charity has supported Lime Arts for many years, recognising the value and importance of its work.

Each year the Lime Arts programme builds upon existing strengths, with focus during the last 12 months on the wellbeing of our NHS workforce. MFT’s national profile as an organisation spearheading innovative approaches to caring for its workforce was bolstered in 2024 as Lime Arts’ flagship staff wellbeing project, Create+, received two prestigious national accolades at Building Better Healthcare Awards. Lime Arts received the Gold Award for the ‘Best Collaborative Arts Project’ plus the special recognition over all entries for the ‘Clinicians’ Choice Award’.

Lime Arts Programme Highlights

Projects delivered by Lime Arts include:

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Creating a Caring Environment

Lime Programme Highlights – Creating Healing Environments

Supporting Staff Wellbeing

Create+ is a multi-award-winning Arts Referral Service for MFT staff that uses creative activity as a tool to improve selfcare, wellbeing and resilience at work. The programme is for MFT staff who are returning to work after sick leave, and staff who are in work but who need some ‘time out’ due to high levels of stress or anxiety.

Between April 2024 and March 2025 Lime Arts delivered 15 Create+ courses attended by 94 staff, 6 Create+ Alumni workshops attended by 39 staff, and 76 teambuilding workshops attended by 606 staff.

Evaluation has highlighted how MFT staff accessing the Create+ course delivered over six weeks, experience reduced stress and anxiety surrounding work and/or a return to work after sick leave, and improvements across self-identified mental health and wellbeing concerns. Participants also express how Create+ makes them want to stay in their job. During 24/25 68% of staff attending the programme were in work, suggesting this resource is now being accessed as a ‘prevention’ measure to support staff to stay in work.

“Being allowed time to come here (Create+), to breathe and to feel valued has turned my life around completely. I don’t feel like I’m going to reach burnout anytime soon anymore. I’m much less anxious and nervous about going into work… That’s helpful for the team as well because they don’t have to get people to cover me for being off sick.”

Mental Health Practitioner, Child & Adolescent Mental Health Service (CAMHS) Crisis Team

Throughout 2024/25 Lime Arts worked with multi-disciplinary teams to create award-winning, integrated art and design schemes for healthcare environments. Projects included:

‘The Call’ – National Organ Donor Recognition Artwork – A landmark ceramic mural curated by Lime Arts and its lead artists Liam Curtin and Stephen Raw, depicting a unique poem by John McAuliffe. The artwork was developed in consultation with over 50 people including donor families, recipients and specialist clinical teams.

‘The Art of Repair’ Macmillan Cancer Information and Support Centre, North Manchester General Hospital – Lead artists Colette Whittington and Zayneb Allak worked with over 50 patients, families and specialist nursing staff during seven artist-led workshops to develop a unique poem and collection of handmade artworks displayed in the Centre.

Our Future Plans

The Charity’s key objective for 2025/26 is to continue to support our family of hospitals and clinical services, focusing our fundraising efforts on the three key areas of treatment, research, and care, to enhance the services we provide and the care that we give to over 2 million patients who use our hospitals every year.

We also hope to launch a range of exciting appeals that will make a significant difference to the experience and quality of care our patients receive – including plans to raise funds to purchase two Rocket Scanners, child-friendly MRI simulators that mimic real scanners and are helpful in preparing young patients for what can sometimes be a scary procedure.

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Structure, Governance and Management

Manchester University NHS Foundation Trust Comprises Ten Hospitals:

Our Trust is a leader in healthcare research and innovation and our clinical teams are at the forefront of many major medical breakthroughs. Our Trust is also home to two Local Care Organisations (LCOs) which run NHS community health and adult social care services in Manchester and Trafford.

The diverse and specialist nature of the services provided from these hospitals encourages a similarly diverse donor base.

Manchester Foundation Trust Charity Objectives and Priorities

The charitable fund was created under Trust deed executed on 26th July 1995 and constituted with a sole Corporate Trustee, which is now the Board of Directors of Manchester University NHS Foundation Trust (MFT).

The object of the Charity is “for any charitable purpose or purposes relating to hospital services (including research) or to any other part of the National Health Service associated with any hospital.”

Organisation Structure

The overall management and decisionmaking of the Charity is the responsibility of the Trust’s Charitable Funds Committee. The Committee has specific terms of reference, and no business may be transacted at a meeting unless two Trust Non-Executive Directors and one Trust Executive Director, who must be the Chief Finance Officer (or nominated deputy), are present. The Chief Finance Officer is the Trust Executive Director nominated by the Board to have prime responsibility for the administration of the Charity’s finances.

The Charity has a Charitable Funds Guide which is distributed to all fundholders. The guide ensures that the expenditure from the Charity is compliant with the Charity Commission’s Public Benefit guidance.

The Charity is registered with the Charity Commission and has a number of unrestricted and restricted funds. The unrestricted funds have no limitations on how the money is spent, other than the Charity’s governing document. The money in the restricted funds has to be spent in accordance with the relevant restrictions. The Corporate Trustee will always try to fulfil the wishes of donors when allocating funding.

All other funds are classed as designations which enable each fund to be managed by fund advisers at an appropriate level within the organisation, and any expenditure charged to the fund must be appropriately approved in line with the Scheme of Delegation below. The designated fund advisers are appointed by the NHS Trust’s management team in accordance with the Scheme of Delegation approved by the Board.

Scheme of Delegation for Manchester University NHS Foundation Trust Charity

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||| |---|---| |Value of| |Authorisation required by| |expenditure (£)| |0 – 2,499|Fund Advisor| |Fund Advisor and Divisional| |2,500 – 4,999| |Director| |Fund Advisor, Divisional Director| |5,000 – 24,999|and Clinical Group Chief| |Executive or Medical Director| |Fund Advisor, Divisional Director,| |Clinical Group Chief Executive| |25,000 – 49,999| |or Medical Director and Trust| |Executive Director| |Above £50,000|Charitable Funds Committee|

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Structure, Governance and Management

Appointments to Corporate Trustee

The Board of Directors comprises of Trust Non-Executive Directors, including the Trust Chair, and Trust Executive Directors, including the Trust Chief Executive.

In accordance with the Trust’s Constitution, the number of Trust Non-Executives is required to be equal to or greater than the number of Trust Executive Directors. The Trust Chair and Trust Non-Executive Directors are appointed through a selection process and have the skills and attributes to act as advocates for their communities and provide leadership for the NHS. The Council of Governors approves these appointments. Regular briefings and workshops are provided for the Corporate Trustee as required.

The Trust Chief Executive is appointed by the Trust Chair and Trust Non-Executive Directors with approval from the Council of Governors. A committee consisting of the Trust Chair, the Trust Chief Executive and the other Trust NonExecutive Directors appoints Executive Directors.

Corporate Trustee Remuneration

The individuals comprising the sole Corporate Trustee are the Trust Executive and Trust Non-Executive members of the Board of Directors of the Manchester University NHS Foundation Trust.

The individuals do not receive any remuneration from the Charity in their capacity as Trustee; they are, however, remunerated by the NHS Trust in their capacity as a Board member. The Charity’s support costs include a small administration charge from the NHS Trust in relation to their time devoted to the Charity.

Related Party Relationships

The Charity works closely with, and provides the majority of its grants to, Manchester University NHS Foundation Trust.

The Charity Trustee constitutes the members of the Trust Board. During the financial year, the Charity paid grants totalling £2.63m (£3.45m in 2023/24) to MFT in furtherance of its objectives.

Fundraising Standards

Our Charity is constantly reviewing the way it engages with our supporters and the public. We have robust contracts in place with external organisations, which specify that individuals who carry out fundraising activities should be trained to adhere to applicable laws and codes, such as the Fundraising Regulator’s Code of Fundraising Practice and data protection laws. Up to 31st March 2025, the Charity worked with nine commercial participators.

Our Charity voluntarily subscribes to the Fundraising Regulator and its Code of Fundraising Practice and Institute of Fundraising. The Regulator is responsible for regulating fundraising and investigates and takes appropriate action on cases of public concern.

Working with Third Party Fundraisers

Monitoring and control of fundraising activities, including the work done by external organisations, is vital to ensure that our supporters have a great experience and are treated fairly.

If we find cause for concern, we investigate as a matter of urgency and take appropriate action.

Protecting Vulnerable People

As a Charity we are especially careful and sensitive when engaging with vulnerable people.

Our practices reflect this, for example through our guidance and training, and we strive to ensure our staff and third-party fundraisers follow these too. As an NHS Corporate Trustee Charity, we adhere to NHS safeguarding policy and procedures.

Supporter Data

Responsible use of personal data is at the heart of our fundraising practice.

In accordance with electronic marketing legislation, we have an ‘opt-in’ approach to all of the email marketing that we undertake, meaning that we only contact supporters with marketing and fundraising communications by electronic means if they have given the Charity unambiguous and explicit permission to do so.

With regards to direct postal marketing, the Charity will rely on the basis of legitimate interests to ensure that we comply with laws and industry standards, and we will be able to demonstrate how our decision to process personal data for direct marketing purposes passes the necessary balancing tests. All recipients of marketing will be able to opt-out from receiving it, and in doing so will be removed from the relevant distribution list.

Complaints

We try to make sure that supporting Manchester Foundation Trust Charity is a great experience. However, not everyone will agree with the way we promote and manage our campaigns, so we provide a fair complaints procedure which is clear, easy to use and published on our website. Although some complaints are complex and take time to resolve our Charity endeavours to respond quickly and efficiently. In the year to 31st March 2025, we received one complaint.

Investments

The Charitable Funds Committee has responsibility for the management and monitoring of the investments of the Charity, as delegated by the Corporate Trustee. The Charity conforms to the investment powers given within the Charity Commission Order for an NHS umbrella charity and the Trustee Act 2000. The Charity uses professional investment advisors who manage the investment portfolio as directed by the Charity Trustees.

Employees

The Charity does not directly employ any staff.

The Charity funds staffing costs, including clinical and support staff, who undertake research and other charitable activities, as well as fundraising and administrative staff, who run and support the Charity. These members of staff are employed by Manchester University NHS Foundation Trust, which then makes a recharge to the Charity for the costs incurred solely in relation to the work they do for the Charity.

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Structure, Governance and Management

Risks and Internal Control

The Charitable Funds Committee has undertaken a full review of the major risks to which the Charity may be exposed, based upon the guidance issued by the Charity Commission ‘Charities and Risk Management’. The review covers the risks associated with:

The Trustee appoints an External Auditor, Forvis Mazars, which ensures the Charity’s published accounts truly represent the financial standing as at the reporting date of 31st March 2025 and has the power to report to the Charity Commission if it has any concerns. The External Auditor’s report is given on pages 32-35.

In addition to this, the Charity benefits from the internal audit of Trust processes and controls, a service provided by KPMG. The Operational Finance Director, on behalf of the Trustee, is responsible for ensuring any action points raised by both Forvis Mazars and KPMG are applied and monitored.

Principal Risks and Uncertainty Facing the Charity

The Charity works closely with MFT and is supported by the overarching control environment within the Trust.

The Charity’s overall reserves and investment policy have been set to ensure that no undue or unnecessary risks are taken, and the Charity’s investments continue to meet the organisation’s strategic objectives, while preserving the capital over the long term against the effects of inflation.

The Charity has invested in a diversified portfolio with sufficient risk to meet the agreed long-term objectives of the invested capital, deemed to have an overall risk level of low to medium. The Trustees receive regular updates relating to the performance of the investments and the risks relating to these investments.

Going Concern

The Trustee has a reasonable expectation that the Charity has adequate resources to continue as a going concern. Expenditure is discretionary and balanced against the reserves policy requirements. Accounting for income and expenditure is on an accruals basis to ensure all committed expenditure is reflected in the reporting process, and the Charity has sufficient resources to meet its committed expenditure for 12 months from the date that the financial statements were approved by the Charitable Funds Committee.

Indemnity Insurance

The NHS Trust has Directors’ indemnity insurance, which also covers their responsibilities as Trustee of the charitable fund.

Governance and usage of funds, where delegated authority has been granted, poses a risk, in relation to ensuring funds are used in line with the aims and objects of the Charity as set out by its governing document and the Trustee. In addition to the approved scheme of delegation, there is a robust system of control when processing expenditure requests.

The level of incoming resources poses a risk to the achievement of the objectives of the Charity. The approach the Fundraising Team takes to maximise the income generated, supported by the Charitable Funds Committee, seeks to minimise this risk.

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27 C)

Financial Review

The financial statements are prepared under the historical cost convention, in accordance with the Statement of Recommended Practice ’Accounting and Reporting by Charities (SORP 2019)’ applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), effective 1st January 2016 and the Charities Act 2011.

Funding Summary

Source of Income

The income streams of the Charity are:

----- Start of picture text -----
2024/25 2023/24
Income Stream £k % £k %
Donations 706 17 673 12
Income from Fundraising Events 1,612 39 1,718 31
Legacies 1,043 26 2,128 38
Investments 697 17 815 15
Grants receivable 21 1 215 4
Total 4,079 100 5,549 100
----- End of picture text -----

Financial Highlights – Income and Expenditure

During the year the Charity has seen a reduction in funds held from £15,722k to £13,573k. This reduction has come from expenditure on fundraising and charitable purposes exceeding income in this year which has been partially offset by the increase in the value of investments held as a result of market movements.

Total income for the year ending 31st March 2025 totalled £4.08m (£5.55m in 2023/24).

Expenditure on charitable activities during the year was £4.27m (£5.13m in 2023/24).

Reserves Policy

The Charity is able to hold and administer funds for any purpose relating to hospital services, including research.

The Trustee operates a number of designated funds which assist the Trustee in applying the funds in harmony with donor wishes and are administered by operational managers through the policies and procedures set by the Trustee. The Trustees have the power to redesignate such funds within unrestricted funds.

Reserves are defined as the part of a charity’s funds that are freely available to fund its general operations and so are not subject to commitments, planned expenditure or other restrictions. Consequently, reserves do not include endowment funds, restricted funds and amounts that have been committed to cover future expenditure. The Trustee has a requirement for freely available funds in order to fund the following:

In arriving at the appropriate level of reserves, the Trustee has considered the following;

The Charity has determined that its minimum reserve level is based on the ongoing costs of its fundraising efforts and administration and on the operating commitments it has entered into. Currently this amounts to approximately £1.2m.

The amount currently held by the charity that can be regarded as reserves, which is those funds not committed or set aside for future projects, has been calculated to be £5.5m. This means that the Charity holds £4.3m in excess of its calculated required reserve level.

The Charity recognises that it is working with a large complex organisation in the form of an NHS Foundation Trust, and this means that it is normally expected to carry more funds in reserve than the minimum reserve level and that this excess will vary from time to time. During 2024/25 and prior years, movements in investments and fund balances have resulted in a deficit balance within the unrestricted element of the Corporate/Trust wide fund balance, although the charity overall is in surplus. To recover this deficit the Charity will allocate funds received, monitor expenditures, and reflect future market improvements in investments.

Included within the overall unrestricted balances available for spending as at 31st March 2025 are a small number of individual funds which have negative balances. During 2024/25 and in prior years, the Trustees have implemented their plan to prevent these negative balances from increasing further and to reduce and eliminate these negative balances.

The level of reserves is continually monitored by the Trustee and the policy will be reviewed every three years.

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Financial Review

Investments

Investment Powers

The Charity conforms to the investment powers given by the Charity Commission Order for an NHS umbrella charity and the Trustee Act 2000.

Investment Policy

The Charity’s investment policy is based upon the powers within the Trust deed, which forms the basis of a formal investment management agreement with the Investment Managers. The main aims of the policy are that:

Ethical Investment Policy

The Trustee has considered and agreed a policy for ethical investments, which forms part of the investment policy agreed with the Investment Managers. The policy says: “The Investment Manager should not invest directly in a company which has substantial activities in tobacco manufacture, as this would conflict directly with the aims of a healthcare charity.”

Investment

The charity has one investment portfolio which is managed through Sarasin and Partners. This investment portfolio is compliant with its investment policy. The market value of the investments at 31st March 2025 is shown below.

----- Start of picture text -----
Bank Name Market Value at 31/03/2025
£k
Sarasin 13,444
----- End of picture text -----

Corporate Trustee Responsibilities Statement

The Corporate Trustee is responsible for preparing the Trustee Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’.

The Corporate Trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. It is also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The law applicable to charities in England & Wales requires the Corporate Trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and the application of resources of the entity for that period. In preparing these financial statements, the Corporate Trustee is required to:

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

By order of the Corporate Trustee.

Kathy Cowell OBE DL

Trust Chair Signed for and on behalf of the Corporate Trustee

Mark Cubbon Trust Chief Executive Signed for and on behalf of the Corporate Trustee

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31

Independent Auditor’s Report to the Members of Manchester University NHS Foundation Trust Charity

Opinion

We have audited the financial statements of Manchester University NHS Foundation Trust Charity (the ‘charity’) for the year ended 31 March 2025 which comprise Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies.

The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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:

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 trustees’ 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 trustees with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the trustee’s report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on Which we are Required to Report by Exception

In light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustee’s report.

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the trustees’ responsibilities statement the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

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Independent Auditor’s Report to the Members of Manchester University NHS Foundation Trust Charity

Auditor’s Responsibilities for the Audit of the Financial Statements

To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks of material misstatement in respect to non-compliance, our procedures included, but were not limited to:

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion.

Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such as the Charities Statement of Recommended Practice.

Based on our understanding of the charity and its industry, we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements: Charities Act 2011, UK tax legislation, anti-bribery, corruption and fraud and money laundering.

In addition, we evaluated the trustees’ and management’s incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of management override of controls, and determined that the principal risks related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to revenue recognition (which we pinpointed to the cut-off assertion), the classification of income and expenditure, liability from multi year grant commitments, and significant one-off or unusual transactions.

Our audit procedures in relation to fraud included but were not limited to:

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of the Audit Report

This report is made solely to the charity’s trustees, as a body in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body for our audit work, for this report, or for the opinions we have formed.

Forvis Mazars LLP, Statutory Auditor Chartered Accountants and Statutory Auditor

One St Peter’s Square Manchester M2 3DE

Date: 25th September 2025

Forvis Mazars LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under Section 1212 of the Companies Act 2006.

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35

2024/25
2023/24		 Note
Unrestricted funds
Restricted funds
Total funds
Unrestricted funds
Restricted funds
Total funds		 £000
£000
£000
£000
£000
£000		 Income From: Donations and legacies
2
975
795
1,770
2,439
577
3,016		 Other trading activities - Income
from fundraising events
2.1
1,529
83
1,612
2,663
(945)
1,718		 Investments
2.2
697
0
697
815
0
815		 Total
3,201
878
4,079
5,917
(368)
5,549		 Expenditure on: Raising funds
3
2,373
0
2,373
2,412
0
2,412		 Charitable activities
3.1
2,520
1,754
4,274
4,940
192
5,132		 Total
3.2
4,893
1,754
6,647
7,352
192
7,544		 Net gain on investments
6
419
0
419
1,521
0
1,521		 Net income/(expenditure)
(1,273)
(876)
(2,149)
86
(560)
(474)		 Net movement in funds
(1,273)
(876)
(2,149)
86
(560)
(474)		 Reconciliation of funds: Total funds brought forward as
previously reported
10
6,784
8,938
15,722
6,698
9,498
16,196		 Net movement in funds for the
year
(1,273)
(876)
(2,149)
86
(560)
(474)		 Total funds carried forward
10
5,511
8,062
13,573
6,784
8,938
15,722		 All figures reported in the Statement of Financial Activities (SOFA) are from continuing operations and there are no other recognised gains and losses to disclose. The notes on pages 39 to 53 form part of these financial statements. Balance Sheet as at 31st March 2025
Non-Current Assets
Tangible assets
Investments
6 and 6.1
Investment property
6 and 6.1
Total non-current assets
Current assets
Debtors
Cash and cash equivalents
Total current assets
Creditors: Amounts falling due within one year
Commitments: Amounts falling due within one year
4 and 9
Net Current Assets / (Liabilities)
Creditors: Amounts falling due after more than one year
Commitments
4 and 9.1
Total net assets
The funds of the charity:
Restricted income funds
Unrestricted funds
Unrestricted Investment revaluation reserve
Total Charity funds
The notes on pages 39 to 53 form part of these financial statements.
These financial statements of the MFT Charity registered number 1049274 were approved by the Board of Trustees
and authorised for issue on 19th August 2025. They were signed on its behalf by:
Kathy Cowell OBE DL
Trust Chair
Claire Wilson
Chief Finance Officer
Total at Total at
Note 31st March 2025 31st March 2024
£000 £000
Non-Current Assets
Tangible assets 5 36 43
Investments 6 and 6.1 13,444 20,473
Investment property 6 and 6.1 3 3
Total non-current assets 13,483 20,519
Current assets
Debtors 7 232 406
Cash and cash equivalents 8 7,253 3,319
Total current assets 7,485 3,725
Creditors: Amounts falling due within one year 9 (708) (1,396)
Commitments: Amounts falling due within one year 4 and 9 4 and 9 4 and 9 (6,637) (7,076)
Net Current Assets / (Liabilities) 140 (4,747)
Creditors: Amounts falling due after more than one year
Commitments 4 and 9.1 (50) (50)
Total net assets 13,573 15,722
The funds of the charity:
Restricted income funds 8,062 8,938
Unrestricted funds 4,703 5,751
Unrestricted Investment revaluation reserve 6.2 808 1,033
Total Charity funds 10 13,573 15,722
The notes on pages 39 to 53 form part of these financial statements. The notes on pages 39 to 53 form part of these financial statements.

These financial statements of the MFT Charity registered number 1049274 were approved by the Board of Trustees and authorised for issue on 19th August 2025. They were signed on its behalf by:

Claire Wilson

Chief Finance Officer

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37 CO

Annual Accounts 2024/25

Cash Flow Statement for Year Ended 31st March 2025

Note Total
31st March
2025
£000		 Total
31st March
2024
£000
Cash fows from operating activities
Net expenditure
SOFA
Net (gain)/loss on investments
SOFA		 (2,149)
(419)		 (474)
(1,521)
Operating defcit
Interest received
Dividends received
Depreciation and amortisation
5
(Increase)/Decrease in trade and other receivables
7
Increase/(Decrease) in Trade and Other Payables
9
Net cash absorbed by operating activities
Cash fows from investing activities
Proceeds from sale of investments
Cost of purchase of investments
Interest received
Dividends received
Net cash generated from investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning of the
reporting period
Cash and cash equivalents at the end of the
reporting period
8		 (2,568)
0
(697)
7
174
(1,127)
(4,211)
7,500
(52)
0
697
8,145
3,934
3,319
7,253		 (1,995)
(77)
(738)
7
(387)
203
(2,987)
4,000
(56)
77
738
4,759
1,772
1,547
3,319

Notes to the Accounts

1 Accounting Policies

1.1 Charitable Status

The Charity is a public benefit entity, a registered charity, and its registered office is given on page 55.

On 1 October 2017, the Charities Corporate Trustee, Central Manchester University Hospitals NHS Foundation Trust, merged with University Hospital of South Manchester NHS Foundation Trust to form Manchester University NHS Foundation Trust (MFT).

On this date, the Charity Commission merged the charities to become the Manchester University NHS Foundation Trust Charity.

On 1 April 2021, the Charites Corporate Trustee, Manchester University NHS Foundation Trust, acquired the North Manchester General Hospital site. At this date the charitable funds related to North Manchester General Hospital were transferred to Manchester University NHS Foundation Trust Charity from Pennine Acute Hospitals NHS Trust Charity.

1.2 Basis of Preparation

The financial statements have been prepared in accordance with the historic cost basis, with the exception of investments which are included at revalued amounts.

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

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 preparing the accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Trustee has a reasonable expectation that the Charity has adequate resources to continue as a going concern. The significant financial risk facing the Charity is that the value of its investments will decline due to market forces, which will adversely affect available funds. Expenditure is discretionary, and balanced against the reserves policy requirements. Accounting for income and expenditure is on an accruals basis to ensure all committed expenditure is reflected in the reporting process, and the Charity has sufficient resources to meet its committed expenditure for 12 months from the date that the financial statements were approved by the Corporate Trustee.

1.3 Income

Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Investment income reported in the SOFA and in note 2.2 includes dividend income and interest on bank accounts, but excludes unrealised gains. It is accounted for on an accruals basis.

Gifts in kind: assets given for use by the Charity are included in the SOFA as incoming resources when received. Gifts in kind are based on retail value and the amount the items could be sold for by the donor. For all gifts in kind, the amount recognised is either an estimate measured with sufficient reliability or the actual amount realised.

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Annual Accounts 2024/25

Donations and gift aid are disclosed under voluntary income in the SOFA, and recognised when receivable. Auctions and sponsorship income from fundraising events are disclosed under other trading activities.

Legacies are accounted for as income where the receipt of the legacy is probable. At the balance sheet date a legacy is accounted for if all the following criteria have been met;

The Charity defers income where terms and conditions have not been met or uncertainty exists as to whether these terms or conditions can be met. The income is not recognised but deferred as a liability until it is probable that the terms or conditions imposed can be met.

1.4 Expenditure

Expenditure is recognised when a liability is incurred, and where appropriate irrecoverable VAT is recorded under the relevant cost heading for the activity expensed. The Charity is only exempt from VAT when making purchases of medical equipment.

The costs of raising funds are those associated with generating income for funds held on trust. This will include costs associated with fundraising events and investment management. During the year an administrative levy (usually 25%) has been applied to fundraising income to contribute to costs associated with generating income. Costs in excess of contributions received were borne centrally through the Charity’s general purpose fund and not charged to individual designations as agreed by the Charitable Funds Committee.

Grants payable are payments made to bodies external to and within the boundary of the NHS in furtherance of the objects of the Charity. They are accounted for on an accruals basis where the conditions for their payment have been met or where a third party has reasonable expectation that they will receive the grant, and include grants paid to Manchester University NHS Foundation Trust.

At the end of the financial year, the Charity may have received goods and services which have not been invoiced at the balance sheet date. In these circumstances, an estimated value of the cost is included in the Charity’s reported financial results. In some cases, the estimated value is based on the quoted value provided by the supplier when the goods were ordered, is included in the Charity’s reported financial results.

Commitments for future expenditure are recognised if there is an expectation the funds will be used for a particular purpose. This will ordinarily take the form of an approval of the expenditure by the Trustee. They are recognised in expenditure and in the balance sheet under the heading ‘Commitments’, split between current and non-current categories.

Support costs relate to those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, payroll and governance costs which support the Charity. These costs have been allocated across the charitable activities. The basis on which support costs have been allocated are set out in note 3.2.

Governance costs are accounted for on an accruals basis, they include Statutory Audit fees and a recharge from MFT for management time devoted to the charity.

The Charity is exempt from direct taxation on its commercial activities as they are ancillary charitable trading and fall within the provisions of section 505 of the Income and Corporation Taxes Act 1988. Therefore, the Charity pays no tax on dividend and interest income it receives.

1.5 Structure of Funds

In broad terms, a charity’s funds are either restricted or unrestricted.

a) Restricted Funds

Restricted income funds are funds that can only be applied for particular purposes within their objects, for example, where the donor has specified a donation should be spent in furthering a particular charitable purpose.

b) Unrestricted Funds

ii) Unrestricted funds also include designated funds, where the donor has made known their non-binding wishes or where the Trustee, at its discretion, has created a fund for a specific purpose. The Charity’s major designations are disclosed in note 10. The Trustees have the power to re-designate such funds within unrestricted funds.

The Charity has both a General Purpose fund and designated funds.

1.6 Transfers Between Funds

A transfer between funds is made only if it is appropriately approved (by the Fund holder or Charitable Funds Committee) and does not contravene the wishes of the donor.

1.7 Fixed Assets Investments

Investments are stated at market value as at the date of the Balance Sheet; values have been provided by the respective Fund Manager. The statement of financial activities includes net gains and losses arising on the revaluation and disposals throughout the years.

The Charity has investment portfolio assets which are included in the Balance Sheet at the closing market value on 31st March 2025.

1.8 Tangible Fixed Assets

Property, plant and equipment is capitalised if:

Valuation

Assets are carried at Depreciated Historic Cost. The Charity owns no land or buildings.

Depreciation

Depreciation is charged to write off the cost or valuation, less any residual value, of Property, Plant and Equipment over their estimated useful lives, in a manner which reflects the consumption of economic benefits or service potential of the assets.

The assets owned by the Charity are made up of furniture and equipment used in the course of fundraising. These assets are depreciated over their expected useful life which is 15 years.

40

41

Annual Accounts 2024/25

1.9 Investment Gains and Losses

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 sale proceeds and purchase cost.

Unrealised gains and losses are calculated as the difference between the market value as at the year end and the purchase cost, and are recognised in the Statement of Financial Activities. Unrealised losses are accounted for in the revaluation reserve, unless there is evidence the market value of the investments will continue to decline in the future (in which case the loss is realised in the Statement of Financial Activities).

1.10 Operating Leases

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straightline basis over the lease term.

1.11 Financial Instruments

Financial assets and financial liabilities are recognised when the Charity becomes a party to the contractual provisions of the instrument. All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. In this case, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The Charity only holds financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value, and subsequently measured at their settlement value.

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.12 Role of Volunteers

Our general volunteers support the Charity at fundraising events, street collections and at mass participatory events. General volunteer time is not recognised in the accounts.

1.13 Critical Accounting Judgements and Key Sources of Estimation Uncertainty

In the application of the Charity’s accounting policies, which are described in notes 1.1 to 1.12, the Trustee is required to make judgements, estimates and assumptions about the carrying amounts 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.

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

The Trustee does not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed above.

2. Income from Donations and Legacies

Unrestricted
funds
2024/2025
£000		 Restricted
funds
2024/2025
£000		 Total
2024/2025
£000		 Unrestricted
funds
2023/2024
£000		 Restricted
funds
2023/2024
£000		 Total
2023/2024
£000
Donations
Legacies
Grants receivable
Total Income from donations
and legacies		 310
644
21		 396
399
0		 706
1,043
21		 644
1,662
133		 29
466
82		 673
2,128
215
975 795 1,770 2,439 577 3,016

As in prior years, legacies are included in the Statement of Financial of Activities when it is determined that they have met the criteria of recognition as set out in the SORP.

The Charity recognises gifts in kind in the Statement of Financial Activities if the recognition criteria set out in the Accounting Policies are met. In 2024/2025, the Charity received £153k (£124k in 2023/2024) worth of gifts, which are included in the category ‘Donations’. The Charity has received no donated services or facilities in 2024/2025 or 2023/2024.

2.1 Income from Fundraising Activities

Unrestricted
funds
2024/2025
£000		 Restricted
funds
2024/2025
£000		 Total
2024/2025
£000		 Unrestricted
funds
2023/2024
£000		 Restricted
funds
2023/2024
£000		 Total
2023/2024
£000
116
203
144
1,066
0		 1
30
5
47
0		 117
233
149
1,113
0		 76
1,189
174
1,224
0		 2
17
6
30
(1,000)		 78
1,206
180
1,254
(1,000)

As a result of a delay in a project, a specific request from a donor has resulted in a repayment of £800k donation and £200k gift aid being made during 2023/2024.

The re-presentation of the 2023/24 comparative values reflects new reporting such that miscellaneous sales now also includes income previously reported in separate lines for Christmas and Schools. Miscellaneous sales in 2024/25 and 2023/24 include individual giving from fundraising events.

2.2 Investment Income

2.2 Investment Income
Unrestricted
funds
2024/2025
£000		 Restricted
funds
2024/2025
£000		 Total
2024/2025
£000		 Unrestricted
funds
2023/2024
£000		 Restricted
funds
2023/2024
£000		 Total
2023/2024
£000
657
40		 0
0		 657
40		 738
77		 0
0		 738
77

42

43

Annual Accounts 2024/25

3. Analysis of Expenditure on Raising Funds

Unrestricted
funds
2024/2025
£000		 Restricted
funds
2024/2025
£000		 Total
2024/2025
£000		 Unrestricted
funds
2023/2024
£000		 Restricted
funds
2023/2024
£000		 Total
2023/2024
£000
Fundraising activities
Advertising/marketing
Accommodation and
administration costs
Subscriptions
Fundraising team
Investment management fees
Total
Support costs
Total		 176
116
131
52
1,362
85		 0
0
0
0
0
0		 176
116
131
52
1,362
85		 205
129
169
17
1,359
92		 0
0
0
0
0
0		 205
129
169
17
1,359
92
1,922 0 1,922 1,971 0 1,971
451 0 451 441 0 441
2,373 0 2,373 2,412 0 2,412

3.1 Analysis of Expenditure on Charitable Activities

Unrestricted
funds
2024/2025
£000		 Restricted
funds
2024/2025
£000		 Total
2024/2025
£000		 Unrestricted
funds
2023/2024
£000		 Restricted
funds
2023/2024
£000		 Total
2023/2024
£000
Activity
Clinical care and research posts
Patient education, welfare &
amenities
Staff welfare, education &
amenities
New building & refurbishment
Purchase of medical equipment
Purchase of IT and computer
equipment
Purchase of new equipment
Total		 329
744
732
32
492
49
142		 (49)
2
64
1,688
41
3
5		 280
746
796
1,720
533
52
147		 1,300
752
427
426
1,390
145
500		 99
16
48
1
10
0
18		 1,399
768
475
427
1,400
145
518
2,520 1,754 4,274 4,940 192 5,132

The negative charge in relation to restricted spend on clinical care and research posts in 2024/25 represents the reclassification of a commitment recognised in prior years from a restricted to a non restricted fund following further review of the funding source for this commitment.

3.2 Analysis of Total Expenditure

2024/2025 2024/2025
Grant funding
of Activities
£000		 Direct costs
£000		 Governance
£000		 Finance
£000		 Total
£000
Expenditure on raising funds
Expenditure on charitable activities
Clinical care and research posts
Patient education, welfare & amenities
Staff welfare, education & amenities
New building & refurbishment
Purchase of medical equipment
Purchase of IT and computer equipment
Purchase of new equipment
Total expenditure on charitable
activities
Total expenditure		 0
280
746
796
1,720
533
52
147		 1,922
0
0
0
0
0
0
0		 54
0
0
0
0
0
0
0		 397
0
0
0
0
0
0
0		 2,373
280
746
796
1,720
533
52
147
4,274 0 0 0 4,274
4,274 1,922 54 397 6,647
2023/2024
Grant funding
of Activities
£000		 Direct costs
£000		 Governance
£000		 Finance
£000		 Total
£000
Expenditure on raising funds
Expenditure on charitable activities
Clinical care and research posts
Patient education, welfare & amenities
Staff welfare, education & amenities
New building & refurbishment
Purchase of medical equipment
Purchase of IT and computer equipment
Purchase of new equipment
Total expenditure on charitable
activities
Total expenditure		 0
1,399
768
475
427
1,400
145
518		 1,971
0
0
0
0
0
0
0		 41
0
0
0
0
0
0
0		 400
0
0
0
0
0
0
0		 2,412
1,399
768
475
427
1,400
145
518
5,132 0 0 0 5,132
5,132 1,971 41 400 7,544

The charity accounted for £30k for audit fees in 2024/2025 inclusive of VAT (2023/2024 £18k), payable to Forvis Mazars LLP. No other services were received from Forvis Mazars LLP. Net expenditure of £2,373k on raising funds (expenditure of £2,412k in 2023/2024) as reported in the SOFA includes the charge for audit fees. The audit fee is included within Governance Costs in both 2024/2025 and 2023/2024.

Grants were made to Manchester University NHS Foundation Trust (MFT). No grants were made to individuals.

44

45

Annual Accounts 2024/25

3.3 Analysis of Staff Costs, Trustee Remuneration and Expenses, and the Cost of Key Management Personnel

Staff Costs and Cost of Key Management Personnel

All staff engaged in the activities of the Charity are employed by Manchester University NHS Foundation Trust (MFT). The Charity is therefore recharged for individuals time spent engaged in either charitable activities, raising funds or by providing support (e.g. back office functions) to the Charity.

Trustees’ Expenses and Remuneration

During the year ended 31st March 2025, neither the Trustees nor the key management staff, nor parties related to them, undertook any transactions with Manchester University NHS Foundation Trust Charity or received any benefit from the Charity or payment in kind (2023/2024: £nil).

4. Restricted and Unrestricted Assets and Liabilities

Restricted and unrestricted funds are pooled to form cash and investment balances, and the only balance sheet item that is split between funds in this way are commitments. As at 31st March 2025 these commitments total, £6,687k of which £1,830k relate to restricted balances (2023/24 commitments totalled £7,126k of which £300k related to restricted balances).

5. Tangible Assets

31st March
2025
£000		 31st March
2024
£000
127
127
(77)
(7)
(84)
50

6. Fixed Asset Investments: Movements in Funds

6. Fixed Asset Investments: Movements in Funds
Total
2024/2025
£000		 Total
2023/2024
£000
Market value at 1st April 2024
Add: additions to investments at cost
Less: disposals at carrying value
Net gain / (loss) on revaluation
Market Value at 31st March 2025		 20,476
52
(7,500)
419
13,447		 22,899
56
(4,000)
1,521
20,476

The valuations of the Charity’s investments at 31st March 2025 have been provided by Sarasin & Partners LLP the investment company used to manage the funds.

The charity has invested surplus funds for the purpose of generating a financial return. The entity has not invested in any external bodies which are involved in the activities of the Charity.

6.1 Fixed Assets at 31st March 2025

6.1 Fixed Assets at 31st March 2025
Total
2024/2025
£000		 Total
2023/2024
£000
UK equities
Alternative investments
Fixed income
Liquid assets
Property
Leasehold		 9,208
1,326
1,309
1,093
508
3
13,447		 14,986
1,404
2,534
820
729
3
20,476

6.2 Historic Cost of Listed Investments and Movement in Revaluation Reserve

Total
2024/2025
£000		 Total
2023/2024
£000
Historic cost
Market value of investments at 31st March
Balance of Revaluation Reserve		 12,639
13,447
808		 19,443
20,476
1,033

The closing net book value is made up of fixtures and fittings (£36k) used for the purpose of generating funds for the charity. The tangible assets are held at the Oxford Road Campus.

46

47

Annual Accounts 2024/25

7. Analysis of Debtors

7. Analysis of Debtors
Current Total
31st March 2025
£000		 Total
31st March 2024
£000
Amounts falling due within one year:
Prepayments
Accrued income
Total debtors falling due within one year		 12
220
232		 0
406
406

Debtors are amounts due to the Charity. They are measured on the basis of their expected recoverable amount.

8. Analysis of Cash and Cash Equivalents

8. Analysis of Cash and Cash Equivalents
Total
31st March 2025
£000		 Total
31st March 2024
£000
Cash and cash equivalents 7,253 3,319

9. Analysis of Creditors

9. Analysis of Creditors
Current
Notes		 Total
31st March 2025
£000		 Total
31st March 2024
£000
Amounts falling due within one year:
Trade creditors
Accruals
Deferred income
Accruals for commitments
9.1
Total creditors falling due within one year
Non-current
Notes		 526
182
0
6,637
7,345
Total
31st March 2025
£000		 1,250
146
0
7,076
8,472
Total
31st March 2024
£000
Amounts falling due after one year:
Accruals for commitments
9.1
Total creditors falling due after one year
9.1 Accruals for Commitments Payable		 50
50
Total
31st March 2025
£000		 50
50
Total
31st March 2024
£000
Opening balance
Committed in year
Released in year
Paid in year
Closing balance		 7,126
2,630
(97)
(2,972)
6,687		 5,648
3,452
(44)
(1,930)
7,126

Expected Timing of Cash Flows in Relation to Commitments

Expected Timing of Cash Flows in Relation to Commitments
Total
31st March 2025
£000		 Total
31st March 2024
£000
Not later than one year
Later than one year and not later than fve years
Total accruals for grants payable		 6,637
50
6,687		 7,076
50
7,126

48

49

----- Start of picture text -----
Number of funds £000 68 46 15 48 55 32 123 151 538 Number of funds Re-presented £000 69 46 16 49 57 36 124 153 550
Restricted funds at 31st March 2025 £000 23 5,717 315 30 918 0 75 984 8,062 Restricted funds at 31st March 2024 Re-presented £000 23 6,380 315 31 983 0 77 1,129 8,938
Unrestricted funds at 31st March 2025 £000 1,062 (4,762) 233 923 629 1,076 3,732 2,618 5,511 Unrestricted funds at 31st March 2024 Re-presented £000 1,230 (4,822) 257 993 952 1,091 3,889 3,194 6,784
Total funds at 31st March 2025 £000 1,085 955 548 953 1,547 1,076 3,807 3,602 13,573 Total funds at 31st March 2024 Re-presented £000 1,253 1,558 572 1,024 1,935 1,091 3,966 4,323 15,722
Transfers between funds £000 0 0 0 0 0 0 0 0 0 Transfers between funds Re-presented £000 397 (258) 0 (32) 0 0 287 (394) 0
£000 0 419 0 0 0 0 0 0 419 £000 - 1,521 - - - - - - 1,521
Gains and (Losses) Gains and (Losses) Re-presented
Expenditure £000 (233) (4,033) (36) (93) (406) (137) (755) (954) (6,647) Expenditure Re-presented £000 (69) (3,743) (33) (173) (85) (678) (1,384) (1,379) (7,544)
£000 65 3,011 12 22 18 122 596 233 4,079 £000 48 3,249 17 191 27 265 916 836 5,549
Income Income Re-presented
Total funds at 31st March 2024 £000 1,253 1,558 572 1,024 1,935 1,091 3,966 4,323 15,722 Total funds at 31st March 2023 Re-presented £000 877 789 588 1,038 1,993 1,504 4,147 5,260 16,196
Hospital/area Clinical & Scientific Support Other Trustwide and corporate funds Manchester LCO, Trafford LCO & Dental Manchester Royal Infirmary North Manchester General Hospital Research & Innovation Specialist Hospitals WTWA Total Funds Each hospital or area balance in the table above is made up of a large number of individual funds, a small number of which contain negative balances. As at 31st March 2025, there is a negative balance of £9.8m (negative balance £9.5m as at 31st March 2024, excluding unrealised investment losses). The largest negative balance is £9.4m on the Trustwide general purposes fund (negative balance on this fund as at 31st March 2024 was £9.1m) and the Trustees have a plan in place to reduce the negative balances. 10. Fund Balances by Hospital/Area – 2023/2024 Hospital/area Clinical & Scientific Support Other Trustwide and corporate funds Manchester LCO, Trafford LCO & Dental Manchester Royal Infirmary North Manchester General Hospital Research & Innovation Specialist Hospitals WTWA Total Funds
----- End of picture text -----

50

51

Annual Accounts 2024/25

11. Related Party Transactions

10.1 Details of Material Funds

A fund is deemed material if the balance at 31st March 2025 is £750k or more and significant to the operation of the charity.

The Charity works closely with, and provides the majority of its grants, to the Manchester University NHS Foundation Trust (MFT). The Charity Trustee constitutes the members of the Trust Board and during the financial year £418k of financial costs were recharged (£418k in 2023/2024). During the financial year, the Charity committed £2,630k (£3,452k in 2023/2024) to MFT in furtherance of its objectives. As at the 31st March 2025 the Charity commitment to the Trust is £6,687k (£7,126k at 31st March 2024). The Charity had an amount of £526k owed to MFT at 31st March 2025 (£1,250k at 31st March 2024).

Funds over this threshold are detailed below:

31st March 2025

Fund name
Total
funds
at 31st
March
2024
Income
Expenditure
Gains
and
(Losses)
Transfers
between
funds
Total
funds
at 31st
March
2025
Unrestricted
funds at
31st March
2025
Restricted
funds at
31st March
2025
iMRI Scanner –
RMCH
2,956
0
0
0
0
2,956
0
2,956
RMCH Fundraising
2,568
656
(369)
0
0
2,856
2,856
0
Specifc Purpose
Legacy Income
2,143
129
(8)
0
0
2,264
0
2,264
WTWA – Cystic
Fibrosis
883
0
(91)
0
0
792
792
0
Investments
Unrealised
1,033
0
0
(225)
0
808
808
0
31st March 2024
Total
funds
at 31st

Gains

Transfers

Total
funds
at 31st

Unrestricted
funds at

Restricted
funds at*
12. Post Balance Sheet Events
There were no events following the Statement of Financial
or resulting in a change to the fnancial statements of the c
13. Operating Lease Commitments
The total future minimum lease payments under non-cance
2024/2025
2023/2024
£000
£000
12. Post Balance Sheet Events
There were no events following the Statement of Financial
or resulting in a change to the fnancial statements of the c
13. Operating Lease Commitments
The total future minimum lease payments under non-cance
2024/2025
2023/2024
£000
£000
12. Post Balance Sheet Events
There were no events following the Statement of Financial
or resulting in a change to the fnancial statements of the c
13. Operating Lease Commitments
The total future minimum lease payments under non-cance
2024/2025
2023/2024
£000
£000
Within one year
Between two and fve years
After fve years		 0
0
0
0		 39
0
0
Total
funds
at 31st

Gains

Transfers

Total
funds
at 31st

Unrestricted
funds at

Restricted
funds at
39
Fund name
March
2023
Income
Expenditure
and
(Losses)
between
funds
March
2024
31st March
2024
31st March
2024
iMRI Scanner –
RMCH
3,956
(1,000)
0
0
0
2,956
0
2,956
RMCH Fundraising
2,799
1,452
(929)
0
(754)
2,568
2,568
0
Specifc Purpose
Legacy Income
1,803
350
(10)
0
0
2,143*
0
2,143
WTWA – Cystic
Fibrosis
579
343
(39)
0
0
883
883
0
Investments
Unrealised
(570)
0
0
1,603
0
1,033
1,033
0

There were no events following the Statement of Financial Position date, either requiring disclosure, or resulting in a change to the financial statements of the charity.

The total future minimum lease payments under non-cancellable operating leases:

Total Total
funds funds Unrestricted Restricted
at 31st Gains Transfers at 31st funds at funds at
March and between March 31st March 31st March
Fund name 2023 Income Expenditure (Losses) funds 2024 2024 2024
iMRI Scanner –
RMCH
RMCH Fundraising
Specifc Purpose
Legacy Income*
WTWA – Cystic
Fibrosis
Investments
Unrealised		 3,956
2,799
1,803
579
(570)		 (1,000)
1,452
350
343
0		 0
(929)
(10)
(39)
0		 0
0
0
0
1,603		 0
(754)
0
0
0		 2,956
2,568
2,143
883
1,033		 0
2,568
0
883
1,033		 2,956
0
2,143
0
0

The Charity Fundraising Team have ceased to occupy the ground floor of the Citylabs, Maurice Watkins building with effect from 11 July 2024 with the ‘Break in Lease’ option having been applied.

14. Controlling Party

The Charity is under the control of Manchester University NHS Foundation Trust (by virtue of the Trust being the sole corporate Trustee). The Charity is included in the consolidated financial statements prepared by Manchester University NHS Foundation Trust which can be obtained from Cobbett House, Manchester University NHS Foundation Trust, Oxford Road, Manchester, M13 9WL.

52

53

Contact Details for the Charity, Trustee and Advisers

As a sole corporate Trustee, the names of the directors are required to be disclosed:

Trust Chair ......................................................................... Kathy Cowell OBE DL Trust Deputy Chair & Non-Executive Director ...................... Trevor Rees Trust Non-Executive Director .............................................. Angela Adimora Trust Non-Executive Director .............................................. Gaurav Batra (until 08/04/2024) Trust Non-Executive Director .............................................. Matthew Bonam (from 01/09/2024) Trust Non-Executive Director .............................................. Luke Georghiou Trust Non-Executive Director .............................................. Mark Gifford OBE Trust Non-Executive Director .............................................. Nicholas Gower Trust Non-Executive Director .............................................. Samantha Liscio Trust Non-Executive Director .............................................. Christine McLoughlin OBE Trust Non-Executive Director .............................................. Damian Riley

Trust Chief Executive .......................................................... Mark Cubbon Trust Deputy Chief Executive .............................................. Julia Bridgewater MBE (until 31/12/2024) Interim Deputy Chief Executive .......................................... Darren Banks (from 01/01/2025) Chief Nursing Officer ......................................................... Kimberley Salmon-Jamieson Chief Delivery Officer ......................................................... Vanessa Gardener (from 01/04/2024) Interim Chief People Officer ............................................... Norma French (09/09/2024–28/02/2025) Chief People Officer ........................................................... Meera Nair (from 17/02/2025) Joint Group Chief Medical Officers ..................................... Toli Onon

Jane Eddleston (until 31/05/2024) Bernard Clark (interim 01/06/2024–31/12/2024) Sohail Munshi (from 01/01/2025)

Director of Strategy ............................................................ Darren Banks (until 31/12/2024) Interim Director of Strategy ................................................ Tom Rafferty (from 01/01/25) Chief Digital and Information Officer ................................. David Walliker (from 29/04/2024) Registered Charity number and name ................................ 1049274 Manchester University NHS Foundation Trust Charity Address of Registered Charity ............................................ Cobbett House Manchester Royal Infirmary Oxford Road, Manchester M13 9WL Tel 0161 276 4522 Director of Charity ............................................................. Tanya Hamid tanya.hamid@mft.nhs.uk Tel 0161 276 4522 Banker ............................................................................... Barclays Bank plc Manchester City Office Box 357, 51 Mosley Street, Manchester, M60 2AU Solicitor .......................................................................... Hempsons Portland Tower, Portland Street Manchester M1 3LF External Auditor ................................................................. Forvis Mazars One St Peter’s Square Manchester, M2 3DE Internal Auditor ................................................................. KPMG* One St Peter’s Square Manchester, M2 3DE

Chief Finance Officer ......................................................... Jenny Ehrhardt (until 31/05/2024) Interim Chief Finance Officer .............................................. Marcus Thorman (03/06/2024– 31/12/2024) Chief Finance Officer ......................................................... Claire Wilson (from 09/12/2024)

54

55

mftcharity.org.uk

Manchester Foundation Trust Charity @MFT_Charity @MFTCharity

Manchester Foundation Trust Charity is registered with the Charity Commission as Manchester University NHS Foundation Trust Charity. Registered Charity 1049274.

In support of:

North Manchester General Hospital Manchester Royal Infirmary Wythenshawe Hospital Royal Manchester Children’s Hospital Manchester Royal Eye Hospital

Saint Mary’s Hospital University Dental Hospital of Manchester Withington Community Hospital Trafford General Hospital Altrincham Hospital