2025-03-31-accounts

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Annual Report and Financial Statements

For year ended 31 March 2025

Company Registration No. 3166627 Registered Charity No. 1053866 Scottish Charity No. SCO40810

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www.familyfund.org.uk

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	Page
Chair’sreviewof FamilyFund	2

Trustees’report	4

Strategic report	13

Independent auditors’report	30

Consolidated statement of financial activities	35

Charity statement of financial activities	36

Balance sheets	37

Consolidated cash flowstatement	38

Charity cash flowstatement	39

Notes to the financial statements	40

Officers and professional advisers	72

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Chair’s review of Family Fund

As I reflect on the past year, what strikes me most is the incredible strength of the families we support and the unwavering commitment of everyone involved in Family Fund to stand alongside them.

This has been a year marked by growing need but also by growing impact. Family life is full of challenges at the best of times, but for families raising disabled or seriously ill children, those challenges are often relentless. We hear time and again from families having to make heartbreaking decisions, whether to put food on the table or keep the heating on, or how to stretch a budget that simply can’t cover essential items like a bed, a cooker, or a working fridge. On average, it now costs an extra £1,000 a month to raise a disabled child which is a staggering burden, especially for those already living without a safety net.

“We have been blessed with the help we have had. The funding does help and it makes a huge impact, especially when the kids have got disabilities. It gives them a sort of quality of life, it really does.”

These are pressures that are often hidden from view. But behind every application we receive is a story of love, resilience and determination to give children the best possible start and that’s what drives us at Family Fund. Over the past year, we delivered more than 200,000 grants and instances of support that allow families to feel seen and heard.

Our grants help with the basics that many people may take for granted: cookers, fridges, washing machines, beds. But it goes far beyond that—providing sensory toys that help children process sensory information, specialist technology for learning and communication and short breaks that offer vital respite and build family resilience. This support changes lives. These grants support children’s health, development, and wellbeing and help parent carers to keep going, stay in work where they can, and protect their own mental health and stability.

Beyond grants, we offer a growing range of services to support families in the wider challenges they face. We provide information on benefits and income maximisation, helping them to understand their entitlements, and navigate complex systems. Our team is here at the end of a phone, online, and together working in partnership with brilliant organisations across the UK.

“It's not just about getting the grant and the money. One of the ladies last time I spoke, she recommended the things that I can get in my local area - other support which I didn't know about. It was a bit like “oh, wow, that's amazing.”

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More than half the families we supported this year were new to us, a clear sign that the need for our help is growing. In response, we’ve expanded and adapted our grant programmes thanks to the generosity of individual donors, trusts, foundations and corporate partners. Our “Being There for Families” strategy, now in its second year, continues to shape our work. It’s helping us reach more people, deliver support faster, collaborate to create long-term change and invest in the people and systems we need to grow our impact.

I’m also incredibly proud of the performance of Family Fund Business Services, which generated £2.9 million in profit, all of which goes back into funding our work with families. We’re also grateful to receive continued funding support from all four governments across the UK and retained funding from several trusts and foundations. This year, we were especially pleased to secure new multi-year funding from The Julia Rausing Trust and ongoing support from the Pears Foundation both of which will help us grow our “Your Opportunity” programme for young disabled adults living at home.

None of this happens without people. I want to say thank you: to our dedicated staff, our Trustees, our delivery partners, funders and every single supporter and organisation who makes our work possible. Above all, thank you to the families we work with. You are our purpose and our inspiration.

“Family Fund helped us during our hardest times. This will never be forgotten - even when things get better. You lifted such a weight from us. We’re eternally grateful.”

But we must be honest: the pressure on our funding is real. Costs are rising. The number of families coming to us for help is growing and with every pound, we’re being asked to do more. We work hard to make sure at least 90p of every £1 we spend goes towards supporting families but the gap between what’s needed and what we can fund is widening. That’s incredibly difficult, because behind each request is a family hoping for a little breathing space, a small moment of joy, or simply the essentials they cannot go without.

We don’t want to turn any family away. With continued support from government, trusts and foundations, corporate partners and members of the public, we believe we can rise to this challenge together.

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ROY O’SHAUGHNESSY Chair of Trustees

Date: 26/9/2025

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Trustee’s report

The Trustees, who are also directors of the charitable company, present their annual report (including the Chair’s review of Family Fund and the Strategic report) on the affairs of the charity and the group, together with the audited financial statements and auditors’ report for the year ended 31 March 2025.

In accordance with section 414C (11) of the Companies Act 2006 (Strategic Report and Directors Report) Regulations 2013, the company has prepared a Strategic Report.

Structure, governance and management

Group status

Family Fund Trust (“Family Fund”) is registered as a charity (charity number 1053866 and Scottish charity number SC040810) and is a company limited by guarantee (company number 03166627) and does not have a share capital. Every member undertakes to contribute towards the assets of the company in the event of winding up. Their individual liability cannot exceed £10. The registered office is included on page 73.

Family Fund Trading Limited, trading as Family Fund Business Services, is a wholly owned subsidiary of Family Fund and commenced trading in April 2008. The principal activity of the company is to work commercially for its parent, undertaking new activities to provide financial support to Family Fund so that it can sustain its work, develop its services and continue to make a difference to families who care for a disabled child or young person. The company shall transfer all trading profit, subject to prudent retention, to its parent.

Governing document

Family Fund's governing instrument is the Articles of Association adopted in February 1996 and as subsequently updated; most recently in June 2025.

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Governance and management

Trustees who served during the year and up to the date of this report are: Roy O’Shaughnessy – Chair Neil Ashton – Vice Chair Jonathan Evans (retired at end of term on 13 December 2024) Gareth Lambert Andrew Piper (retired at end of term on 28 March 2025) Shona Elliott Marguerite Haye (retired on 27 June 2025) Emma Pinnock Paul Bass Michal Noe Ian Thomas Joanne McDowell Katie Roberts (appointed 28 June 2024) David Cook (appointed 7 March 2025) Carmen Whitelock (appointed 7 March 2025)

Family Fund's Board determines the direction of the charity, with responsibility for sound stewardship of the grants provided by the governments of England, Scotland, Wales and Northern Ireland, alongside charitable trusts, private funders, donors and donations.

The Board meets on at least a quarterly basis, with a Board Development Day scheduled annually. There are three permanent committees: Finance, Audit and Risk Committee, Safeguarding Committee, and the People and Nominations Committee, which also sit on a quarterly basis prior to the meeting of the full Board, which they report into.

The People and Nominations Committee has oversight of the Group People Strategy and all matters relating to staff employment and wellbeing. It also acts as the Nominations Committee to oversee the recruitment of new Trustees and membership of Committees. Shortlisting of candidates and interviewing are completed by the Nominations Committee, which subsequently makes an appointment recommendation to the Board. This year, Family Fund welcomed three new Trustees – Katie Roberts, Dave Cook and Carmen Whitelock, as two Trustees retired from their role during the year following six years as Trustees, and one retired post year end. The Board formally records its thanks to Jonathan Evans, Andy Piper and Marguerite Haye for their commitment and significant contribution they made to the charity over their terms and wishes them well for the future.

All new Trustees are provided with an induction, which includes relevant reading materials related to the governance of Family Fund, including its Articles of Association and policies. Trustees are also provided with an operational induction with the Executive team, and an induction into the relevant Committees on which they serve. Each new Trustee completes a post-induction review with the Chair within the first 12 months, followed by end of term reviews, which encompass feedback from the wider Board, Executive team and the newly appointed Trustees.

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The Board has in place policies and processes to evaluate and develop the performance of the Trustees. Board members complete a number of self-assessment and performance reviews with the Chair or the Chair of a Committee that they are a member of during their initial first year and prior to seeking a second term of office. Similar procedures are followed in respect of the Chair, Vice-Chair and the Chairs of all the Committees.

Trustees’ liability insurance was in force during the financial year and at the date of approval of the financial statements.

The day-to-day running of Family Fund and Family Fund Business Services is delegated to the key management personnel - the Group Chief Executive and her fellow principal officers - who have the power to act and take decisions under the guidance of the Board. The Group Chief Executive and principals provide written reports detailing progress and future planned activity to the Board at its quarterly meetings and to all of the Committees in the run up to the Board.

The principal officers serving during the year and reporting directly to the Group Chief Executive are detailed on page 73

Staff Pay policy

The Board of Trustees recognises the importance of transparency and accountability in all aspects of work across the Family Fund Group and we are committed to open and clear information. This includes transparency about our Executive team’s salaries in both the charity and trading subsidiary, and how they are set.

Family Fund is driven by its vision and is committed to maximising our impact across all elements of our work. To do this means we need to work hard to balance two different needs: the need to ensure value for money in everything we do, including how we pay our staff; and the need to attract and retain people with the right leadership, experience, knowledge and skills required to lead the charity through the changing landscape of disability policy and economic change so that we can evidence impact, outcomes and effectiveness.

We aim to ensure that our employees’ salaries reflect the level of responsibility and leadership expected of them, and that they are in line with the salaries paid by other voluntary organisations. We benchmark all of our salaries across the Group each year against voluntary sector organisations of similar sizes, complexity and profile, using established salary surveys. This determines the control-point for each of the salary bands, including the Executive grades. We also keep an overview of local markets to ensure that pay differentials do not affect our ability to attract the right calibre of person.

This practice is in line with the National Council for Voluntary Organisations’ executive pay guidance that ‘the overall goal of a charity’s pay policy should be to offer fair pay to attract and keep appropriately qualified staff to lead, manage, support and/or deliver the charity’s aims.’

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By paying salaries that match similar roles at comparable organisations, we can attract and keep the highly skilled and committed staff the Family Fund Group needs. This means we can keep meeting our ambitious plans, remain effective and efficient, increase our funding and with it grant support and services to families.

Following recommendation from the People and Nominations Committee, the Board of Trustees will consider and, if in agreement, approve the annual pay award budget for the Group. An employee’s ability to progress through the salary band is based on individual performance, using predetermined ratings. Percentage increases are attributed to each of the ratings, provided to the People and Nominations Committee and applied consistently across the Group, including at Executive level.

The performance rating of the Group Chief Executive is presented by the Chair to the People and Nominations Committee for approval, with senior management team ratings being set by the Group Chief Executive and reported to the People and Nominations Committee alongside the summarised reporting of all staff ratings.

Secure and accurate processes meeting legal requirements

The Board is committed to the continued review and maintenance by Family Fund Group of good quality procedures and processes. These include:

Risk Management Framework, Register and Risk Appetite Statements maintained and updated at quarterly intervals. A full review by the Board is completed twice a year;
Systems, policies and procedures in place, with monitoring and review mechanisms, to ensure compliance with data protection and other legislation;
Audit mechanisms and processes for minimising errors or risk of fraud by staff and contractors in place;
Audit mechanisms for minimising attempts to utilise grants for unintended purposes or to defraud by grant recipients;
Disaster Recovery and Business Continuity Plans in place and subject to annual review by the Board;
All major contract areas are covered by service-level agreements with performance standards; and
Internal quality review procedures for all business areas.

We are confident that these procedures will ensure that the governance and risk management of the organisation continues to be of a high standard.

Objectives

Family Fund helps meet the needs of families living on the lowest of incomes raising disabled and seriously ill children. We strive to remove many of the barriers families face and help to promote quality of life. Everything we do as a charity contributes to that. Our vision is that families raising disabled or seriously ill children should have the same choices, quality of life, opportunities and aspirations as other families.

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Family Fund is established for the public benefit and for general charitable purposes according to the laws of England and Wales. The purpose of the charity, as set out in the governing document, is (1) primarily to assist families, parents and others with parental responsibility in the United Kingdom caring for a disabled or seriously ill child or person, and (2) the relief of those in need by reason of disability, serious illness, financial hardship or other disadvantage by:

providing support by way of financial grants, goods, services and information;
furthering knowledge about disability and its impact on the disabled child or person, their siblings, parents or carers; and
working with other charitable organisations to delivery financial grants, goods, services and information to those in need by reason of disability, serious illness, financial hardship or other disadvantage.

The Trustees have complied with the duty (set out in section 4 of the Charities Act 2006) to have due regard to public benefit guidance published by the Charity Commission.

Families make no payment for our services and no relevant individuals are excluded from our application procedures. Further details of the specific achievements of the Group are included in the Chair's review. In addition, a summary of the grants awarded to families are included in note 5 to the financial statements.

Family Fund continues to pursue its mission to improve the day-to-day lives of families on a low income who are raising a disabled or seriously ill child or young person. We do this by:

providing grants, services and support that ease daily pressures and improves quality of life;
growing and diversifying our funding base, in order to do more, for more families;
providing ways for families to share their experiences, so they can influence lasting change on issues that matter to them; and
continuous development of the organisation’s people, processes and practices, to provide the most effective and efficient service to families.

Family Support policy

All family support provided by Family Fund will align with the charity’s mission and vision, and its charitable objects. In addition, we follow these guiding principles when planning and delivering grant programmes and services.

Our commitment to those applying for support:

Being inclusive – we commit to engaging, communicating and supporting applicants in a way that respects diversity and inclusivity.
Celebrating abilities – our services will value and celebrate the abilities of disabled and seriously ill children and young people, ensuring our support reflects their strengths and individuality.
Enabling self-sufficiency – where appropriate, we will offer tools and resources to empower parents and carers to access support independently.

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Our commitment to service:

Equitable and objective support – decisions about support will be based solely on the eligibility criteria for the programme or service, ensuring fairness and impartiality.
Respecting the applicant’s choice – we believe that applicants are best placed to identify their needs. Wherever possible, we will honour their preferences by awarding their first choice of grant item, if it is within our means.
Tailored grant support for individual circumstances – we recognise that every applicant’s situation is unique, so we will aim to offer a wide range of grant items, and a range of options, so applicants can choose what best suits their specific needs.
Comprehensive consideration of grant requests – within the scope of our eligibility criteria and funding capacity, we will consider any grant request that has the potential to provide a positive impact for the disabled individual, their carer, and/or their wider family, as relevant to the application.
Full funding where possible – we will strive to fund the full cost of a grant item, subject to the availability of resources.
Timely decision making – we are committed to making grant decisions as promptly as possible so that applicants can benefit from their grant at the earliest opportunity.
• Working within professional expertise – we will operate within our areas of expertise and consult specialists as necessary to provide the best possible quality of support.

Our use of resources:

Allocation of charitable funds – when a specific funding stream is designed or requires funding to support across all four UK nations, we will allocate resources proportionally to ensure equitable support based on the population and needs of each nation.
Avoiding duplication of statutory support – we will not seek to duplicate services provided by statutory bodies but may supplement them where statutory provision is unavailable locally or insufficient to meet families' needs.
Filling gaps in service – we will develop new services only when existing provision cannot meet identified needs.

The Trustees have determined that the current priorities for grant-making will be:

Families in the UK with a child or young person (up to the age of 25) who has a disability or serious illness, and who:
have a low household income;
require assistance to afford household essentials, family breaks, or items that enable them to care for their disabled child; and
seek to make the same choices and access the same opportunities as others.
Young people in the UK (up to the age of 25) with significant support needs due to a disability or serious illness, who require assistance to increase their independence and fulfil their potential.
Carers in the UK with low household incomes, caring for a young person (up to the age of 21) or adult with a disability or serious illness, by providing breaks from their caregiving role.
Carers in the UK with low household incomes, caring for a child up to the age of three with a disability or serious illness, where the child’s condition creates additional barriers to mobility.

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The Trustees have determined that the current information and support priorities will be:

Providing support to UK-based parents and carers raising a child or young person with a disability or serious illness to help them maximise household income.
Assisting parent and carers who are digitally excluded or need support to use technology effectively for the benefit of their disabled child and family.
Offering practical tools and signposting services to parents in the UK to support their caregiving role and the wellbeing of their child, family and themselves.
Providing opportunities for disabled and seriously ill children and young people (up to the age of 25) in the UK to express their talents and capabilities through creative play.
Supporting practitioners and professionals who work with disabled or seriously ill children and young people.

The principles and priorities within this policy will be reviewed annually or more frequently if deemed necessary by the Trustees due to opportunity, family voice or resource allocation. Changes may be made in line with the Trustees’ assessment of the most effective use of available funds, while honouring any existing grant or service provision agreements.

Environmental statement

During 2024/25, our total energy usage across our offices at Unit 3 and Unit 4 Alpha Court was 110,517 kwh (2024: 241,045 kwh). Below is a breakdown of the resulting greenhouse gas emissions, based on figures provided by our energy supplier. The lease break on one of the offices was executed during the year, with an effective date of 24 March 2025. From September 2024, only one building was occupied which has reduced overall emissions for the year.

	2025	2024
Energy usage	CO2e emissions (metric tonnes)	CO2e emissions (metric tonnes)
Gas consumption	8.32	25.31
Purchased electricity	13.32	21.05
Transport	n/a*	n/a*
Total gross emissions	21.65	46.36

*The Group does not have any company owned vehicles

The chosen intensity measurement ratio is total gross emissions in metric tonnes of carbon dioxide equivalent (CO2e) per full-time employee (FTE), which is 0.12 tonnes (2024: 0.26 tonnes).

To prepare these figures, we have followed the 2019 HM Government Environmental Reporting Guidelines. We have also used the GHG Reporting Protocol - Corporate Standard, and have used the 2024 UK Government’s Conversion Factors for Company Reporting.

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During 2023/24, the Group developed an Environmental, Social and Governance (ESG) strategy, which was approved by the Board of Trustees in March 2024. The strategy sets out our key commitments:

Mitigating our environmental footprint
Continuing investing in and valuing our social purpose
Fostering a culture that embraces effective governance.

Our environmental priorities are:

Increasing resource efficiency, reducing pollution and waste
Emissions
Connecting people with the environment to improve health and wellbeing
Protection and improvement of the environment
Ethical supply chain.

During 2024, in conjunction with our carbon partner Auditel, we produced our second carbon footprint report. Using data from the 2023 calendar year, we calculated that Family Fund’s total carbon footprint was 170 tCO2e, compared to our base year of 2021, which totalled 162 tCO2e, with the top two emission sources relating to home working, and employee commuting.

The carbon reduction plan which was developed after our first report guided our “Green Team” to action a number of carbon reduction initiatives. Although the total carbon footprint increased between the baseline and second measurement, it was recognised that the carbon intensity per employee reduced by 9%, from 0.84 tCO2e/employee to 0.77. The overall increase is likely further qualified by our improved accounting practices to support our footprint calculation.

Our third highest emission source remained Gas and Electricity consumption at the York office, and we anticipate this reducing significantly by our move from two buildings to one during 2024, in our next footprint calculation. This is reflected in our measurement of Gas and Electricity consumption for 2024/25 outlined above.

Statement of Trustees’ responsibilities

The Trustees (who are also directors of Family Fund Trust for the purposes of company law) are responsible for preparing the Trustees’ Annual Report (including the Strategic Report and Directors’ Report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

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select suitable accounting policies and apply them consistently;
observe the methods and principles in the Charities SORP;
make judgments and estimates that are reasonable and prudent;
state whether applicable UK accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
prepare the accounts on a going concern basis unless it is inappropriate to presume that the charity will continue in business.

The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the accounts comply with the Companies Act 2006 Scotland: the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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Strategic report

Background: why our work matters more than ever

Raising a disabled or seriously ill child has never been easy, but right now, it’s harder than ever. The families we support are facing daily challenges that no one should have to navigate alone.

In 2024/25, families are still being forced to make impossible choices just to get through the day. They’re dealing with an average of £1,000 in extra costs every month to meet their children’s basic needs.

We hear directly from parents who are skipping meals so their children can eat, delaying replacing broken appliances, and living in cold homes because they can’t afford to heat them. Often the families we support cannot work due to their caring responsibilities and have no savings which can mean they fall into debt on household bills.

But behind every statistic is a real family. One that feels invisible, forgotten and exhausted.

Support services continue to shrink, just as needs are growing. At Family Fund, we are feeling the pressure too, with rising demand for our support and tightening resources. Yet we remain fully committed to being there for families in need of support. Every day, we stay focused on getting help to families where it matters most.

Whether it’s providing a specialist bed so a child can sleep safely, a tablet to support learning, or a family break to prevent burnout, we can help. And it’s not just what we do, but how we do it: quickly, compassionately, and effectively.

That’s the driving force behind our five-year strategy, Being There for Families . Now in its second year, this plan is our commitment to making meaningful, lasting change through four core aims:

Delivering fast, practical and financial support where it’s needed most.
Growing our income to support more families, including those who’ve never accessed help before.
Partnering with others to amplify family voices and connect them to wider systems of support.
Enabling and strengthening our people, systems, and sustainability so we can do more and do it better.

When families are overwhelmed, we don’t just offer help. We offer hope.

During 2024/25, we delivered over 200,000 grants and instances of suppor t including 89,488 grants across a diverse range of grant programmes. Over half were new to Family Fund, proof that our reach is growing just when it’s needed most. We also provided more than 120,000 instances of support for families, such as workshops, online resources and help over the phone.

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“Family Fund gave us the break we needed from a life of appointments. A chance for William to be a little boy again.”

Behind each number is a moment of relief. A child sleeping safely. A parent feeling seen. A family able to take a breath.

Our mission is clear: to make everyday life a little easier for families raising disabled or seriously ill children. Last year, that commitment was stronger than ever. We’re proud to have supported so many families when they needed it most and we’re not stopping. We’ll continue to listen, to adapt, and above all, to be there for those families who turn to us for help.

Strategy and activities

Delivering life-changing support

What we set out to do:

Simplify and speed up our grant-making process, especially for families applying again.
Move toward our goal of 95% of families receiving a grant decision within 28 days.
• Strengthen our information and support services with a clear strategy and sustainable funding.
Expand self-service options to make support more accessible.
Use data insights to improve inclusive outreach and better serve underrepresented families.

What we achieved:

This year brought real challenges, both inside and outside the organisation. Externally, ongoing financial pressures, stretched public services, and a sharp rise in families needing our support created intense demand. Internally, we faced the difficult task of managing limited resources while staying true to our mission. The number of families visiting our website and contacting us increased and we continued to see thousands of families coming to us for the first time.

To help us respond fairly and effectively, many of our grant programmes operated a specific grant application open and close window rather than remaining open throughout the year. It wasn’t an easy step, but it allowed us to make the most of the funding we had available and support families in need and ensure at least one grant programme always remained open.

We were able to communicate the grant support available to families more effectively, enabling us to help them in different ways and ensure they were informed about our other services.

To make our support more accessible, we introduced quicker application routes and piloted some new approaches to speed up processing grant awards to families. This brought us closer to our goal of processing 95% of grant applications within 30 days, achieving 91% across all grant programmes.

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We developed an Information and Support strategy and made it easier for families to access our help in ways that work for them. We expanded services to include seven new workshop topics and launched the “Discover more Support” tool on our website.

“The workshop showed Ibrahim how to turn his ideas into reality. It helped bridge the gap between wanting to do something and knowing how.”

We hosted our biggest summer Discover Digital festival with more than 100 families and 170 children taking part and telling us it helped them build new skills, make new connections and have fun together in a safe, educational space.

We also deepened our understanding of who we support and worked to reach families often left out of traditional support systems. We focused on inclusive outreach to make sure that no family is left behind.

Growing to do more for more families

What we set out to do:

Launch a new flexible grant programme funded through unrestricted income and corporate partnerships.
Retain and prepare for future delivery of government-funded programmes across all nations.
Achieve appropriate accreditations, including ISO27001, to maintain compliance and trust.
Reduce overheads and improve efficiency and protect value for money.
Align FFBS and charity income strategies and explore packaged service models for new funders.

What we achieved:

This year, amid uncertain times including a change in government and ongoing pressure on public services, we focused not only on protecting our existing funding but also on laying the groundwork for future accelerated growth to diversify our income.

We successfully launched our Being There for Families UK-wide grant programme, thanks to support from McCain, Garfield Weston Foundation and wider individual and corporate supporters. This new, flexible grant programme allows us to attract more funders and tailor support where it’s needed most.

We proudly managed to retain the same level of income across all government funded programmes across all four nations.

Our social enterprise, Family Fund Business Services (FFBS), continued to thrive. FFBS helped distribute over 600,000 essential items to families and generated £2.9 million in profit which will be gifted back to Family Fund. This support strengthens both our financial position and our impact in the wider sector.

Operationally, we modernised our systems, retained key cybersecurity accreditations, and started preparing for ISO27001 equivalence. We also began exploring how artificial intelligence could help us improve grant processing and service delivery to increase efficiency and ensure that families can continue to access our support quickly.

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Despite a challenging fundraising environment, several successes and achievements have been made across the full range of fundraising income streams, particularly through Individual Giving campaigns, Lottery and Trusts and Foundations, securing £6.7 million of new and retained fundraising income.

In February 2025 we were delighted to renew our partnership with the Pears Foundation, who extended their existing grant for a further two years to continue supporting disabled young people aged 18 to 24 living at home.

Alongside this, we secured a three-year commitment of £500,000 per year from The Julia Rausing Foundation. This income, along with utilisation of funding from our Ted Gostling endowment and our own designated funding, means our Your Opportunity grant programme will have over £1 million to provide vital support each year, creating more opportunities and brighter futures for young people.

We were also excited to successfully apply for and receive continuation funding from Motability Foundation of £3m, starting in January 2025, to ensure Family Fund Mobility Support could continue to support families caring for disabled children under the age of three, providing grants for mobility solutions and lease vehicles.

During the year, Family Fund continued to monitor the cost of delivery and overheads as a proportion of charitable expenditure. In 2024/25, 94p of every £1 spent by the charity was spent directly on our cause, indicating to funders that Family Fund continues to represent value for money.

Partnering for change

What we set out to do:

Develop and launch a public affairs strategy to strengthen influence with funders and policymakers.
Ensure families’ voices are heard in political decision-making.
Develop and implement a partnership strategy to focus on joint delivery and systems change.
Use data and insights to position ourselves in the disability and anti-poverty sectors.

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What we achieved:

This year, we significantly stepped up our policy and influencing work, playing an active role in national campaigns and co-ordinating sessions in Parliament to spotlight the everyday challenges faced by families raising disabled or seriously ill children.

We also developed a new public affairs strategy, focused on four key policy areas: financial security, play and physical activity, access to family breaks, and digital inclusion. Throughout the year, we engaged with a wide range of elected representatives to build understanding of the needs of families and the vital role Family Fund plays. Highlights included meetings with the Welsh Minister for Social Care, the Cabinet Secretary for Social Justice, and in collaboration with five supported families, a session with the Scottish Minister for Children, Young People and The Promise.

To ensure family voices inform government thinking, we contributed to multiple public consultations and shared our research and lived experience evidence directly with policymakers. This included providing evidence to the Child Poverty Taskforce to help inform the forthcoming UK Child Poverty Strategy and responding to consultation on the draft Northern Ireland Programme for Government.

To extend our reach and deepen our impact, we built partnerships with schools, local organisations, and referral networks. Across all four nations of the UK, we hosted 86 inclusive family events and community days, strengthening relationships with both the public and policymakers.

Our commitment to collective action remained strong. We continued our active involvement in key campaign coalitions such as the Disabled Children’s Partnership and the End Child Poverty Coalition, including support for the 'All Kids Count' campaign to lift the two-child benefit cap.

In Wales, we partnered with Piws CIC to deliver a series of Stakeholder Parent and Carer Engagement (SPACE) meetings in Bangor, Wrexham, Aberystwyth, Swansea, and Cardiff. These forums brought families, policymakers, and service providers together to share information and build more responsive, inclusive systems of support.

Enabling our people to thrive and strengthening our systems

What we set out to do:

Implement our People Plan with a focus on inclusion, wellbeing, and skills.
Launch a volunteering strategy to build internal capacity.
Upgrade systems and processes across support functions to increase efficiency.
Finalise our Environmental, Social and Governance (ESG) strategy and embed carbon reduction initiatives.

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What we achieved:

We know that delivering for families starts with supporting our own people. This year, we made continued progress.

In 2024/25 we achieved Disability Confident “Being a supported intern Leadership status which is an important part of how at Family Fund has been an we create a workplace where disabled people thrive. We’ve championed disability inclusion within amazing experience and our supply chain and sectors, sharing experiences to everyone has been support others to improve their inclusive practices. supportive.” We have worked hard to develop our website, winning an international WP-Engine Agency Partner Award for Inclusive Design.

We have strengthened links with local universities to support young people into work and have continued our Supported Internship Scheme to help young disabled people into work.

Our focus on employee wellbeing has continued and we have provided resources, learning and interactions to support colleagues to be well and access any support they need.

We have upskilled colleagues to support this inclusion agenda and have also developed learning and resources to equip colleagues with the skills, confidence and capability to respond to new technology and systems.

As part of our continuous improvement efforts, we engaged in a Lean project to review and optimise our internal processes across several departments. This initiative focused on identifying inefficiencies, reducing duplication, and streamlining workflows across key operational areas. By applying Lean principles, we were able to create more effective processes that free up staff time, improve service delivery, and ensure better use of resources.

We’re now applying the Lean project learnings to strengthen cross-team working. By adopting streamlined processes, shared planning tools and consistent ways of working, we’re enabling a more agile, joined-up approach across teams, helping us deliver greater impact together.

Environmentally, we updated our website with our carbon footprint statement and report and continue to work on our plan. Our staff-led Green Team continues to champion this work, helping us build a culture of sustainability from the ground up. From reducing energy use to exploring greener procurement practices, we are aligning our operations with our values to ensure that our impact on the planet reflects the same care and responsibility we show to the families we support. The reduction of our office footprint and positive environmental changes we were able to make as a result of refurbishing our retained space also contributed to our environmental work this year.

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Financial review

For 2024/25, government grant and contract income has been received from the following sources:

The Department for Education, England - £25.4 million (2024: £29.2 million)
Children and Families Directorate, Scottish Government - £2.9 million (2024: £2.8 million)
Department of Health and Social Services, Welsh Government - £360,000 (2024: £360,000)
Department of Health, Northern Ireland - £1.6 million (2024: £1.6 million)
Social Care and NCS Development Directorate, Scottish Government (Take a Break Scotland scheme) - £1.5 million (2024: £1.5 million)

We remain extremely grateful to our funders for their continued support, both in 2024/25 and the forthcoming year.

During 2024/25, we also received income from a range of other sources:

£5.0 million (2024: £5.5 million) from Motability Foundation to provide leased vehicles to families with severely disabled children under the age of three with specific mobility needs;
£200,000 (2024: £200,000) from The Marian Elizabeth Trust to continue support for families caring for children and young adults with multiple complex significant learning and physical support needs living in Liverpool, Wirral, and the Midlands;
• £345,000 (2024: £345,000) of continued funding from Pears Foundation for our Your Opportunity grant programme which supports young people aged 18 to 25.
£500,000 of new funding from the Julia Rausing Trust – the first instalment of £1.5 million over three years to further expand our Your Opportunity programme.
£100,000 (2024: 100,000) of funding from the Garfield Weston Foundation for our Wales Essential grant programme which provides support to families in Wales who are not eligible to apply for funding from the Social Services Third Sector Grant Scheme.
£25,000 of new funding from Moondance Foundation and £20,000 from the Hodge Foundation towards our Wales Essentials grant programme.
£25,000 (2024: £51,000) from Converge (previously Stone) and £49,000 of new funding from the Access Foundation towards our Digital Skills programme;
£12,000 (2024: £19,000) of funding from a range of private trusts and foundations to provide financial grant support to families.

The Group received £335,000 during 2024/25 from the partnership with McCain Foods, with £333,000 being recognised in the year and included in the gifted profits from FFBS. The unrestricted income has subsequently been designated by the Board to provide grants which help families come together at mealtimes.

From this total funding, nearly 90,000 grants worth £37.1 million were awarded to families, with 86% of these grants being goods or services, rather than cash payments.

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Family Fund Business Services had a successful year and generated profits of £2.9 million. A proportion of the profits (£2.0 million) was paid up to the charity during the year along with the balance of the 2023/24 donation (£1.0 million); with the remaining balance of the current year’s taxable profits due to be paid in October 2025.

Within the charitable entity, there was an overall deficit for the year of £422,000 (2024: £537,000 surplus); with total funds standing at £11.7 million (2024: £12.2 million) at 31 March 2025.

Fundraising

During 2024/25, our fundraising team were responsible for generating a total of £331,000 from donations, gift aid and fundraising, £464,000 from corporate donations (including the income from McCain that is paid via Family Fund Business Services) and a further £603,000 of new restricted income from new and existing funders.

We are mindful of the need to ensure our fundraising activities are undertaken in line with best practice and are a positive experience for our supporters. For these reasons, Family Fund opted not to undertake forms of fundraising that carry higher reputational risks such as unsolicited direct mail or telephone fundraising campaigns although we continue to review this activity and opportunities to widen our supporter base. Similarly, we do not contract with any external fundraising organisations or professional fundraisers. All fundraising plans are monitored to ensure individuals do not receive excessive amounts of communications requesting support and emails are only sent to those who have explicitly opted in to receiving fundraising communications.

In order to support our planned growth in fundraising, our Trustees have agreed the following split for donated income:

79% of donated income is used for charitable aims;
20% is reinvested into fundraising costs;
1% is used for organisational sustainability.

We have strong internal fundraising governance arrangements in place. Oversight of strategic direction on fundraising and on performance and compliance is maintained by a Fundraising Committee. Chaired by the Head of Fundraising, this committee meets quarterly and has a membership comprising the Group CEO, Group Director of Finance, Group Director of Income and Engagement, Group Director of Communications and Fundraising, Director of Grant Services, Director of Internal Assurance, Director of Partnerships, Public Affairs & Family Outcomes, Head of Communications. In addition, reports on fundraising are considered by Trustees at both the full Board and the Finance, Audit and Risk Committee, and there are two nominated Trustees to maintain oversight of fundraising activity.

Fundraising Standards

Family Fund is registered with the Fundraising Regulator and is committed to abiding by our Fundraising Promise as well as their Code of Fundraising Practice.

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Fundraising Complaints

Our fundraising complaints process is published on our website. We remain proud of the fact that Family Fund has, to date, never received a formal complaint in respect of our fundraising activities.

Protecting Vulnerable Individuals

Family Fund is responsible in its fundraising practice and will never exploit vulnerability; doing everything possible to ensure supporters make an informed decision about any donation they choose to make. We have a Vulnerable Supporter Policy to ensure best practice is embedded throughout our fundraising work.

Family Fund does not accept donations where it has reason to believe the donor may be experiencing vulnerable circumstances and accepting the donation would be harmful to the donor or morally wrong.

Volunteers

Family Fund has commenced work on a volunteering strategy and implemented associated governance policies but has yet to start recruitment of volunteers. This is planned for 2025/26, with a focus on volunteers to support fundraising.

Reserves policy

The Trustees set Family Fund’s reserves policy, which is developed through consideration of the requirements of charity law, the Charities SORP, finances, strategy and future funding needs.

We will retain reserves of not less than six months operating costs, equating to £3.0 million at 31 March 2025. This is calculated based on the budgeted unrestricted overheads for the following financial year.

Monitoring of the reserves policy is performed solely on the charity as the Trustees have implemented a policy for payment of profits from FFBS to the charity, which determines the level of reserves held in the subsidiary at each year end.

Free reserves are £6.3 million at 31 March 2025. The current level of reserves exceeds the minimum policy set by the Trustees, but the launch of a new Growth Strategy in 2025/26 will draw upon free reserves in future years, so the Trustees do not intend to take any action at this time. Group free reserves at 31 March 2025 are £7.2 million (2024: free reserves of £5.0 million) and total group funds at the end of the reporting year are £12.6 million (2024: £13.2 million).

Total designated reserves at 31 March 2025 are £2.1 million (2024: £4.3 million). Of this, £415,000 is set aside for grants to families in the 2025/26 financial year and the remaining £1.7 million is designated to deliver the charity’s strategy during 2025/26, including expenditure on fundraising, ICT infrastructure and service delivery.

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Investment policy

Family Fund strives to produce the best financial return with a minimal level of risk and will not invest restricted funding in financial instruments that may result in a loss of capital. Our Scheme of Delegated authority permits surplus cash, over and above working capital requirements, to be held in interest bearing accounts with a number of different UK banks. Bank credit ratings are regularly reviewed using the leading credit agencies of Moody’s, S&P and Fitch.

The year ahead

For 2025/26, we remain steadfast in our commitment to deliver meaningful support for families, despite ongoing economic uncertainty and a competitive funding landscape. Guided by the strategic priorities set out in Being There for Families , we will focus on scaling our impact, strengthening our partnerships, and building the infrastructure we need to respond to and sustain growth for the benefit of families.

Our work over the coming year will be driven by the following key areas:

Delivering essential support to families

We will embed the new “windows” approach to grant-making, helping us manage demand and provide timely, fair access to grant support throughout the year.
A new approach to assessing child eligibility will be fully implemented, bringing assessments in-house to improve consistency and cost-effectiveness.
We will operationalise our new Information and Support (IaS) strategy, expanding delivery across the organisation and establishing two new partnerships to enhance family support and improve outcomes.
As part of our drive to improve access, we will simplify application processes by integrating an API with the Department for Work and Pensions, streamlining income and ID checks for first-time applicants to the Support for Disabled Children (SFDC) programme.
We will launch a new delivery model for Take a Break Scotland, improving the carer experience and enabling the development of future bespoke support offers.
We will continue our commitment to inclusion as we deliver our current plans to ensure our grants and services are accessible to all and that we provide a welcoming workplace. Following our achievement of Disability Confident Leader, we will look further ahead to make sure we continuously improve our inclusion practices and at the same time champion inclusion for other organisations.
In line with new Data Protection legislation, we will consolidate our approach to consents to strengthen family engagement and communication.

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Growing our support to do more for families

We will focus on retaining key funding sources across the Group when current agreements come to an end.
A long-term growth strategy will be developed, alongside short-term initiatives such as FFBS innovation pilots and preparatory market activity for new IaS opportunities.
Our refreshed Theory of Change will underpin our fundraising efforts, offering a clear, evidence-based narrative of impact to funders and stakeholders.
Fundraising efforts will be integrated more fully across the organisation, with new income streams developed and additional funding targeted to support Being There for Families .
We will enhance our brand visibility and ensure fundraising is central in our messaging across digital platforms.

Partnering to maximise influence

Our public affairs strategy will be actioned through a targeted programme of activity, ensuring our voice is heard and our position strengthened with policymakers and commissioners.
We will amplify family voice through wider communication of our research, helping ensure the lived experience of families informs public discourse and policy.

Enabling the charity to deliver and grow by investing in our people, systems and infrastructure

Our People Plan will continue to prioritise equity, inclusion, and skills development, aligning with our social value commitments and SFDC contract retention goals.
We will strengthen our infrastructure through investments in technical systems, including improvements to FFBS platforms and the roll-out of new finance software.
Efficiency will be boosted through lean process reviews, data warehouse optimisation, and improved internal service delivery.
Artificial intelligence will be introduced in two targeted use cases to improve operational effectiveness.
We will embed resilience by maintaining robust ICT infrastructure and integrating business continuity planning (BCP) into day-to-day operations.
Volunteer engagement will be expanded, building on recent work to define and operationalise our volunteering offer.

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Principal Risks and Uncertainties

Risk management

Risk is inherent in every organisation – understanding those risks and knowing how much risk to take is often the difference between success and failure. The Group operates a comprehensive and robust Risk Management Framework to identify, manage and mitigate risk. Our Board of Trustees has overall responsibility for ensuring that we operate an appropriate system of controls, financial and otherwise, to provide assurance that we are operating effectively and preventing material misstatement or loss.

The terms of reference of the Finance, Audit and Risk Committee (FARC) state that the committee has responsibility for oversight of the adequacy of the Risk Management Framework and the internal control environment. It is responsible for monitoring the effective development and operation of Risk Management across the Group, and progress in addressing risk-related issues reported to the committee.

Our Risk Framework sets out a formal and structured approach to identifying, assessing, managing and reporting risk within the Group. Approved actions are implemented by the Executive Team who are accountable to the Board. It is the responsibility of every member of the Executive Team to identify and assess potential risks. Our framework includes:

A series of agreed risk appetite statements for the Group’s key risks, ensuring alignment in approach across the Group
Clear risk ownership within the Group
The internal and external causes and impacts for the Group’s key risks
Key controls and a measure of their effectiveness
The Risk Register is fully reviewed by the Trustees twice a year.

Our framework has continued to mature during 2024/25, the most notable change being the alignment of risks across the Group. Expressing risk in the same terms, but with different assessments based on the entity, has allowed us to draw further insight to support growth across the Group. The principal financial risk facing the Charity and the Group remains our ability to diversify funding streams. There is some mitigation in place to protect against this risk, as explained in the Going Concern section below.

Wider ranging risks documented across the Group include people, technology and information governance (cyber, integrity and availability), safeguarding, and our ability to manage change.

As ever, we remain committed to continuous improvement and maturation of our risk framework and recognise it as an essential tool in supporting our operational performance and future growth.

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Going concern basis

Family Fund is largely dependent upon receiving funding from the four UK Governments to maintain its grant making and information provision to families. Family Fund has worked in partnership with the UK Governments for over 50 years and continues to deliver their objectives, whether this is through contract, services or grant agreement, offering excellent value for money and ensuring more than 90p in every £1 spent is used on direct charitable expenditure. We have also improved our scheme evaluation and outcome reporting to funders to better evidence the impact of our work and demonstrate the ‘added value’ provided to their beneficiaries by the diversification of our funding base and the expansion of our information and support service.

2025/26 is the final year of a three-year contract to deliver £27.3 million per year of funding from the Department for Education in England. We have successfully delivered their Support for Disabled Children (SFDC) programme since 2023, exceeding all key performance indicators throughout. Our established track record gives us confidence in our ability to retain the funding for a further contract period if a tender process takes place during 2025/26. The Trustees have considered the impact of losing the SFDC contract, and forecasts suggest that the charity has sufficient unrestricted reserves to cover operating costs whilst a restructuring exercise is completed to reduce expenditure in line with the lower income level. Family Fund would continue to be a sizeable charity, with forecast income in the region of £15 million in 2026/27.

Our grant agreements with Scottish Government and Northern Ireland are renewed annually. 2024/25 was the last year of a three-year funding commitment from Welsh Government for £360,000 per year, but this has been extended for a further year to March 2026.

Government’s Child Poverty Taskforce, contributing evidence that informs policy thinking and demonstrates how our work aligns with its strategic goals. In Scotland, our strong partnership with the Scottish Government is creating new possibilities—such as delivering workshops for low-income families raising disabled or seriously ill children, aimed at boosting digital confidence and supporting income maximisation. Meanwhile, the Welsh Government has signalled a more flexible approach to future funding, opening the door to potential growth and innovation in our service and grant offer.

With continued good relationships with all of our government funders, commitments to continue funding through 2025/26 and a successful story to tell this year, we have every confidence that government funding will be renewed in 2026/27.

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We have a renewed two-year funding commitment of £345,000 per year from the Pears Foundation to support 18 to 25 year olds through our Your Opportunity grant programme through to March 2027. In February 2025 we were also successful in securing £1.5 million of new funding over three years from the Julia Rausing Trust. This income supplements the £1 million expendable endowment from The Edward Gostling Foundation that extends this programme through to March 2033.

FFBS had a challenging year in 2024/25 – the second year of its ambitious five-year strategy – but still successfully generated profits of £2.9 million; providing a valuable, sustainable source of unrestricted income for Family Fund. Current forecasts suggest that the aim of donating £5 million of profit to the charity by the end of the current strategy is still achievable but is likely to be a year later than initially anticipated.

The Board approved an ambitious fundraising plan in March 2025 to supplement the five-year strategy, focusing on diversifying our income streams and securing long term partnerships with new and existing funders. Alongside this, a new growth strategy will be launched during 2025/26, with additional investment into income generation roles and new product/service development being approved by the Trustees.

In 2024/25 we launched our Being There for Families grant programme which will support our fundraising ambitions over the course of the strategy, giving us access to a wider range of potential funders.

Sensitised cash flow forecasts, including a severe but plausible downside scenario, have been prepared for a period greater than 12 months from approval of these financial statements demonstrating the charity has sufficient cash reserves.

Trustees, therefore, consider that the going concern assumption is an appropriate basis on which to prepare these financial statements.

Internal financial control

The Trustees recognise that a system of internal financial control can only provide reasonable and not absolute assurance, against material misstatement or loss. The principal elements of the system of internal financial control within Family Fund Group are:

The Finance, Audit and Risk Committee, consisting of at least four Trustees, to consider all significant internal financial control matters for the Group;
Delegated authority procedures, which are reviewed annually, set out the authorisation levels for the commitment, approval and payment of all expenditure;
Monthly Financial Reports to the relevant Board, highlighting the reasons for any significant variances between the budget for the financial year and the actual outturn;
Appropriate staff employed to carry out the day-to-day work of Family Fund Group with an appropriate staff structure; and
Reports on internal controls to the Finance, Audit and Risk Committee and the Family Fund Business Services Board.

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The Finance, Audit and Risk Committee have the following responsibilities, which are subsequently reported to the Board:

To review and approve the Group financial and internal control systems;
To review and approve the charity’s scheme of delegated authority, with the scheme of delegated authority for Family Fund Business Services being reviewed and approved by the Family Fund Business Services Board;
To approve all Group financial, whistleblowing and accounting policies;
To review the financial content of the charity’s corporate plan and the annual budget;
To review monthly financial performance of the charity and ensure adherence to the annual budget;
To review Family Fund Business Services’ financial performance and progress against the business plan;
To review compliance with Financial Conduct Authority (FCA) regulation;
To review the Group risk management framework, risk register and risk appetite statements;
To review the levels and types of insurance cover in place for the Group;
To review the Group disaster recovery and business continuity plans;
To review the crisis recovery plan;
To review Group information security policies and procedures, along with the results of information governance assurance testing;
To review draft annual financial statements for the Group to ensure compliance with appropriate accounting standards and to be responsible for all other audit matters;
• To review and approve the Group commercial contracts and agreements register and Family Fund Business Services’ client contract register;
To review and approve the relationship agreement between Family Fund and Family Fund Business Services;
To authorise the payment of dividends by Family Fund Business Services; and
To review and approve Reserved Matters of Family Fund Business Services.

Provision of information to auditors

So far as each director is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, each director has taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

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Section 172 statement

All Trustees of Family Fund promote the charitable purpose of the charity; act in good faith and in doings so act in accordance with Section 172 of the Companies Act 2006 (Duty to promote the success of the company). In fulfilling this, the Trustees consider:

the likely consequences of any decisions they make in the long term;
the interests of the company’s employees;
the need to foster the company’s business relationships with suppliers, customers and others;
the impact of the company’s operations on the community and the environment;
• the desirability of the company maintaining a reputation for high standards of business conduct; and
the need to act fairly as between members of the company.

All Family Fund Trustees, upon appointment, receive an induction which includes reading on the duties of a trustee and a briefing on their duties. Trustees are directed to more advice, information and guidance from within governance documents, previous Board papers, Family Fund senior leadership team, staff, and external advisors where advice is required.

Trustees fulfil their duties through the Governance and Committee framework that includes a Finance, Audit and Risk Committee, People and Nominations Committee, and Safeguarding Committee. The Trustees delegate day-to-day decision making to employees, led by the Group Chief Executive and Executive Directors. Delegation to employees is based not only on financial authority, but also with the expectation that they embrace the organisational values and behaviours expected in fulfilment of their responsibilities. The Board has established measures and structures to ensure a robust system of control and assurance processes are in operation. The Trustee Board sets the strategic direction of Family Fund and decisions are taken in the context of the charity’s strategy. This provides a consistent and coordinated approach to the Trustee Board’s decision making, with Trustees considering the charity’s strategy, sustainability, and long-term success, at all times.

Trustees maintain the interests of Family Fund employees through its People Plan, overseen by the People and Nominations Committee. During the year, a range of insights, including information from staff surveys, working groups and training and development feedback are provided to the Committee to understand staff views. The Trustees receive reports from the Group Director of HR and Facilities and Group Chief Executive, who work closely with, and sit in attendance at, the People and Nominations Committee.

The views, life challenges and aspirations of families with disabled children are also vital to inform Board work and decisions. The Trustee Board has Trustees with lived experience of disability, but in addition, the charity presents quarterly family surveys to the Trustees on the life experience of families, based on a largely retained set of questions that can be evaluated over the year for changes and trends.

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This work also extends to evaluate the impact and outcome of grant programmes delivered by the charity. The Trustees also have the opportunity to engage with families at events and listen to calls received from families into the charity’s First Contact Team. The Board of Trustees understand the importance of maintaining productive relationships with all stakeholders, underlined by a strong sense of purpose. We have also continued to focus on increasing our voice and influence with government and policymakers, as we aim to raise awareness of the needs of low-income families with disabled or seriously ill children.

Family Fund has strong relationships with a large range of suppliers who support the delivery of grant items to families and work closely with the Executive to understand and support the charity’s vision and purpose.

Through working collaboratively with the senior leadership team and listening to feedback from the charity’s many stakeholders and corporate governance structures, the Board of Trustees believes that it is well positioned to respond to uncertainties and promote the success of Family Fund.

See the section "Strategy and Activities" in the Strategic Report (pages14-18) for consideration of the charity's impact on the community. See the section "Environmental statement" in the Trustees' Report (page 10) for consideration of the charity's impact on the environment.

Independent Auditors

The auditor, RSM UK Audit LLP, is deemed to be reappointed under section 487 (2) of the Companies Act 2006.

The Trustees’ Report, including the Strategic Report, was approved by the Board and signed on its behalf by:

eC53B8C95776C24BC...O'S rauslanessy ROY O’SHAUGHNESSY Chair of Trustees

Date: 26/9/2025

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Independent auditor’s report to the members and Trustees of Family Fund Trust

Opinion

We have audited the financial statements of Family Fund Trust (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 March 2025 which comprise Consolidated Statement of Financial Activities, Charity Statement of Financial Activities, Balance Sheets, Consolidated Cash Flow Statement, Charity Cash Flow Statement and notes to the financial statements, including 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:

give a true and fair view of the state of the group’s and the parent charitable company’s affairs as at 31 March 2025; and of the group’s and the parent charitable company’s incoming resources and application of resources, including their income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

Basis for opinion

We have been appointed auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with regulations made under those Acts.

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 group and parent charitable company 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.

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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 group’s or parent charitable company’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 annual 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the directors’ report and the strategic report, prepared for the purposes of company law and included within the Trustees’ annual report, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the directors’ report and the strategic report, included within the Trustees’ annual report, have been prepared in accordance with applicable legal requirements.

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Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report or the strategic report, included within the Trustees’ annual report.

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

adequate and proper accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent charitable company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of Trustees’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Trustees

As explained more fully in the statement of Trustees’ responsibilities (set out on pages 11 and 12) the Trustees (who are also the directors of the charitable company for the purposes of company law) 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 group’s and parent charitable company’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 group or parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

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 these financial statements.

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The extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the group audit engagement team:

obtained an understanding of the nature of the sector, including the legal and regulatory frameworks that the group and parent charitable company operates in and how the group and parent charitable company are complying with the legal and regulatory frameworks;
inquired of management, and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud;
discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud.

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charities SORP (FRS 102), Companies Act 2006, Charities Act 2011, Charities and Trustee Investment (Scotland) Act 2005, the parent charitable company’s governing document and tax legislation. We performed audit procedures to detect non-compliances which may have a material impact on the financial statements which included reviewing the financial statements including the Trustees’ Report, remaining alert to new or unusual transactions which may not be in accordance with the governing documents, inspecting correspondence with tax authorities and evaluating advice received from external advisors where applicable.

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The most significant laws and regulations that have an indirect impact on the financial statements are those in relation to data protection, safeguarding and FCA regulations. We performed audit procedures to inquire of management whether the group is in compliance with these law and regulations and inspected correspondence with regulatory authorities.

The group audit engagement team identified the risk of management override of controls and revenue recognition as the areas where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments, evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business, challenging judgments and estimates and consideration of whether any grant funders had requested repayment of any grant funding.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at

http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made exclusively to the members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company’s Trustees, as a body, in accordance with section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006 (as amended). Our audit work has been undertaken so that we might state to the members and the charitable company’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 charitable company, its members as a body, and its Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

| (ucySigned by:Kolssov.

LUCY ROBSON

Senior Statutory Auditor

for and on behalf of RSM UK Audit LLP, Statutory Auditor Chartered Accountants Central Square, Fifth Floor 29 Wellington Street Leeds LS1 4DL

Date: 26/9/2025

RSM UK AUDIT LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

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Family Fund Trust: Consolidated statement of financial activities (including consolidated income and expenditure account) Year ended 31 March 2025

Unrestricted funds £’000 - 320	Designated funds £’000 - -	Restricted funds £’000 37,950 126	Endowment funds £’000 - -	Total funds 2025 £’000 37,950 446	Total funds 2024 £’000 41,739 382
320 5,592 513	- - -	38,076 - 352	- - 29	38,396 5,592 894	42,121 6,373 856
6,425	-	38,428	29	44,882	49,350
(2,900) (10) - (2,187)	(965) (671) 16 (271)	(273) (37,145) 1,981 -	- - - -	(4,138) (37,826) 1,997 (2,458)	(4,301) (38,918) 2,108 (2,587)
(5,097) (2,762) -	(1,891) - (301)	(35,437) - -	- - -	(42,425) (2,762) (301)	(43,698) (2,760) (269)
(7,859) -	(2,192) -	(35,437) -	- -	(45,488) -	(46,727) (2,256)
(7,859)	(2,192)	(35,437)	-	(45,488)	(48,983)
(1,434) -	(2,192) -	2,991 -	29 -	(606) -	367 -
(1,434) 3,510	(2,192) 107	2,991 (3,367)	29 (250)	(606) -	367 -
2,076	(2,085)	(376)	(221)	(606)	367
5,181 2,076	4,259 2,834 921 13,195 12,828 (2,085) (376) (221) (606) 367
7,257	2,174	2,458	700	12,589	13,195

There were no recognised gains or losses other than the net income for the year. All income and expenditure derives from continuing activities. See note 20 for comparative Consolidated Statement of Financial Activities analysed by funds.

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

Family Fund Trust: Charity statement of financial activities (including income and expenditure account) Year ended 31 March 2025

Unrestricted funds £’000 - 3,375	Designated funds £’000 - -	Restricted funds £’000 37,950 126	Endowment funds £’000 - -	Total funds 2025 £’000 37,950 3,501	Total funds 2024 £’000 41,739 4,255
3,375 302	- -	38,076 352	- 29	41,451 683	45,994 616
3,677	-	38,428	29	42,134	46,610
(2,900) (10) - (2,017)	(965) (671) 16 (271)	(273) (37,145) 1,981 -	- - - -	(4,138) (37,826) 1,997 (2,288)	(4,301) (38,918) 2,108 (2,437)
(4,927) - -	(1,891) (301) -	(35,437) - -	- - -	(42,255) (301) -	(43,548) (269) (2,256)
(4,927)	(2,192)	(35,437)	-	(42,556)	(46,073)
(1,250) 3,510	(2,192) 107	2,991 (3,367)	29 (250)	(422) -	537 -
2,260	(2,085)	(376)	(221)	(422)	537
4,153 2,260	4,259 2,834 921 12,167 11,630 (2,085) (376) (221) (422) 537
6,413	2,174	2,458	700	11,745	12,167

There were no recognised gains or losses other than the net income for the year. All income and expenditure derives from continuing activities. See note 20 for comparative Charity Statement of Financial Activities analysed by funds.

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

Family Fund Trust: Balance sheets At 31 March 2025

		Group	Group	Charity	Charity
	Note	2025	2024	2025	2024
		£’000	£’000	£’000	£’000
FIXED ASSETS
Tangible assets	9	194	298	194	298
		194	298	194	298
CURRENT ASSETS
Debtors	11	4,920	5,304	1,346	1,296
Cash at bank and in hand	12	18,056	20,601	16,341	19,361
Short-term Investments	12	1,750	1,750	1,750	1,750
		24,726	27,655	19,437	22,407
LIABILITIES
Creditors: amounts falling due within one year	13	(12,232)	(14,579)	(7,787)	(10,359)
NET CURRENT ASSETS		12,494	13,076	11,650	12,048
TOTAL ASSETS LESS CURRENT LIABILITIES		12,688	13,374	11,844	12,346
Creditors: amounts falling due after one year
Provision for other liabilities		(96)	(154)	(96)	(154)
Post-employment benefits	14	(3)	(25)	(3)	(25)
TOTAL NET ASSETS		12,589	13,195	11,745	12,167
FUNDS
Unrestricted funds		7,257	5,181	6,413	4,153
Designated funds		2,174	4,259	2,174	4,259
Restricted funds		2,458	2,834	2,458	2,834
Endowment funds		700	921	700	921
TOTAL FUNDS	15, 16	12,589	13,195	11,745	12,167

These financial statements of Family Fund Trust registered number 3166627 were approved by the Board of Trustees and authorised for issue on 26 September 2025, and were signed on its behalf by:

eC O'S rauslanessy

ROY O'SHAUGHNESSY Chair of Trustees

[lanSignedFBF5E7262A554D7...by: Ward CHERYL WARD Chief Executive

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Family Fund Trust: Consolidated cash flow statement Year ended 31 March 2025

2025 Unrestricted funds £’000 2,194	2025 Designated funds £’000 (2,098)	2025 Restricted funds £’000 (3,252)	2025 Endowment funds £’000 (250)
513 - (33) -		352 -	29 -
480	-	352	29
2,674 3,640
6,314	2,262	8,780	700

2024 Unrestricted funds £’000 203	2024 Designated funds £’000 (488)	2024 Restricted funds £’000 (1,971)	2024 Endowment funds £’000 900
473 (23)	- -	362 -	21 -
450	-	362	21
653 2,987	(488) 4,848	(1,609) 921 13,289 -
3,640	4,360	11,680	921

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

Family Fund Trust: Charity cash flow statement

Year ended 31 March 2025

2025 Unrestricted funds £’000 1,930	2025 Designated funds £’000 (2,098)	2025 Restricted funds £’000 (3,252)	2025 Endowment funds £’000 (250)	2025 Total funds £’000 (3,670)
302 - (33) -		352 -	29 -	683 (33)
269	-	352	29	650
2,199 2,400	(2,098) (2,900) (221) (3,020) 4,360 11,680 921 19,361
4,599	2,262	8,780	700	16,341

2024 Unrestricted funds £’000 1,388	2024 Designated funds £’000 2024 Restricted funds £’000 2024 Endowment funds £’000 (488) (1,971) 900	2024 Designated funds £’000 2024 Restricted funds £’000 2024 Endowment funds £’000 (488) (1,971) 900	2024 Designated funds £’000 2024 Restricted funds £’000 2024 Endowment funds £’000 (488) (1,971) 900	2024 Total funds £’000 (171)
233 - (23) -		362 -	21 -	616 (23)
210	-	362	21	593
802	4,848	13,289	-	18,939
2,400	4,360	11,680	921	19,361

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Notes to the financial statements

1. Accounting policies

Company and charitable status

Family Fund Trust ("Family Fund"), a public benefit entity, is incorporated in England and Wales as a company limited by guarantee not having a share capital. There are currently twelve Trustees who are also the members of the company. Each member has undertaken to contribute to the assets in the event of winding up a sum not exceeding £10. Family Fund is a registered charity. The registered office is shown on page 73.

Basis of accounting

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 financial statements in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102), effective 1 January 2019; the Companies Act 2006; the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).

Family Fund has availed itself of chapter 4 section 396 of the Companies Act 2006 and adapted the Companies Act formats to reflect the special nature of our activities.

The principal accounting policies are set out below.

Preparation of financial statements - going concern basis

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A core aim of our public affairs work is to protect and grow our government funding across the UK. We actively engage with key decision-makers to ensure they understand the tangible, positive impact of Family Fund’s support for families raising disabled or seriously ill children. Alongside this, we continuously monitor relevant policy and programme developments to identify opportunities to expand existing grants and services or shape new ones. For example, we are working closely with the UK Government’s Child Poverty Taskforce, contributing evidence that informs policy thinking and demonstrates how our work aligns with its strategic goals. In Scotland, our strong partnership with the Scottish Government is creating new possibilities—such as delivering workshops for low-income families raising disabled or seriously ill children, aimed at boosting digital confidence and supporting income maximisation. Meanwhile, the Welsh Government has signalled a more flexible approach to future funding, opening the door to potential growth and innovation in our service and grant offer.

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Trustees, therefore, consider that the going concern assumption is an appropriate basis on which to prepare these financial statements.

Basis of consolidation

Group financial statements have been prepared in respect of Family Fund and its wholly owned subsidiary undertaking Family Fund Trading Limited. These financial statements have been consolidated on a line by line basis and the results of the subsidiary undertaking are disclosed in note 10.

Income

Income (including receipt of endowment funds) is recognised when the charity and subsidiary have 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.

Income is received as grant funding or contract income in accordance with the agreements between Family Fund and its funding bodies.

Donations include all income received by the charity that is made on a voluntary basis, along with related gift aid income and income from a small number of fundraising events organised by the charity.

Interest is accrued to the balance sheet date.

Family Fund Trading Ltd distributes grants to beneficiaries on behalf of its clients. The Company acts as agent, as it does not have exposure to the risks and rewards associated with the transfer of the grants to beneficiaries, therefore only the fees associated with the providing the service are recognised in the accounts.

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Donated goods and services

Donated goods, professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably.

On receipt, donated goods, professional services and donated facilities are recognised on the basis of the value of the gift to the charity, which is the amount the charity would have been willing to pay to obtain goods, services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the financial year of receipt.

Expenditure

Expenditure is included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT, where this cannot be recovered.

Expenditure on raising funds includes the costs incurred in generating fundraising income and trading costs.

Family Fund’s primary charitable activity is to deliver grants and services to families with disabled or seriously ill children. Expenditure on charitable activities includes: costs of delivering grants and services to families, being the direct costs associated with the processing of applications or providing services;

grants given to families, which are recognised as expenditure based on the date of the grant award. Any discounts on goods and services provided to families, receivable up to the balance sheet date, are credited against grants provided to families in the Statement of Financial Activities;
services to families, being the costs of information provision and support to the whole family;
• support costs, which include central functions and governance costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include legal and audit fees, together with Trustees' expenses. Support costs are not allocated to fundraising activities, as a significant proportion of these relate to fulfilling our obligations under our restricted funding agreements.

Fund accounting

Restricted funds are funds subject to specific restrictions imposed by the funding authorities. These funds are not available for the Trustees to apply at their discretion. The purpose and use of the restricted funds is set out in the notes to the financial statements.

Designated funds are funds approved by Trustees to develop and deliver enhanced support for beneficiaries, and to secure the ongoing sustainability of the organisation.

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Funding received from endowments is recognised when the Charity has certainty over entitlement and the amount can be measured reliably. Where receipt is probable,

amounts may be accrued ahead of receipt. Funds are held separately to other funds of the charity to allow monitoring of utilisation in accordance with the terms and conditions of the endowment.

Taxation

The parent company is a registered charity and has no liability to corporation tax on its charitable activities under the Corporation Tax Act 2010 (chapters 2 and 3 of part ii, section 466 onwards) or Section 256 of the Taxation for Chargeable Gains Act 1992, to the extent surpluses are applied to its charitable purposes.

Current tax for the subsidiary company, including UK corporation tax and foreign tax, is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company’s taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in financial years different from those in which they are recognised in the financial statements.

A net deferred tax asset is regarded as recoverable and therefore recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured at the average tax rates that are expected to apply in the financial year in which the timing differences are expected to reverse based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost, net of depreciation.

Tangible fixed assets over £1,000 are initially included at their cost of acquisition, including costs that are directly attributable to bringing the assets into working condition for their intended use.

Donated, functional fixed assets are included at a valuation made by the Trustees. Where the use of these assets is unrestricted, they are included in a designated fund reflecting their book value.

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets over their expected useful lives from the date of installation. The rates generally applicable are:

Leasehold improvements straight line over the lease term Furniture and equipment 5 years straight line Computer equipment and software 4 years straight line

Provisions

Provisions are recognised when there is a present legal or constructive obligation as a result of past events; it is probable that a transfer of economic benefit will be required to settle the obligation and the amount of the settlement can be estimated reliably.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Employee benefits – Pensions

Family Fund participates in the Scottish Voluntary Sector Pension Scheme. This scheme was closed to future accrual on 31 March 2010. The assets of the scheme are held separately in a fund administered for the benefit of the individual participating employees. The scheme is a multi-employer defined benefit final salary scheme where the share of the assets and liabilities applicable to each employer is not identified. Accordingly, these financial statements recognise a liability for the present value of contributions payable under the recovery plan. The present value is calculated using a discount rate which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions. The unwinding of the discount rate is recognised as a finance cost within support costs.

We also participate in TPT Retirement Solutions’ Growth Plan; another scheme where the assets and liabilities applicable to each employer cannot be separately identified. As such, these financial statements also recognise a liability for the present value of contributions payable under the recovery plan. The present value is calculated using a discount rate which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions. The unwinding of the discount rate is recognised as a finance cost within support costs.

In place of the previous defined benefit schemes, we introduced a Group Personal Pension Plan, administered by Scottish Widows, in April 2010, which is a defined contribution scheme. This scheme is funded by contributions from employees and the charity/subsidiary as employer. The amount charged to the Statement of Financial Activities in respect of pension costs is the contributions payable in the year.

Differences between contributions payable in the year and contributions actually paid are shown either as accruals or prepayments in the balance sheet.

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Prepayments and accrued income

Prepayments are valued at the amount prepaid net of any trade discounts due.

Financial instruments

The charity and group only have 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.

Cash at bank and cash in hand includes cash and short term highly liquid investments with a maturity of six months or less from the date of acquisition or opening of the deposit or similar account. Fixed term deposit accounts with a duration of over 3 months are classified as short term investments.

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.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Group’s accounting policies, which are described in note 1, the Trustees are 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.

Family Fund Trading Ltd distributes grants to beneficiaries on behalf of its clients. The Company acts as agent, as it does not have exposure to the risks and rewards associated with the transfer of the grants to beneficiaries. In the accounting period ended 31 March 2025 the Company received and disbursed £70 million (2023: £80.2 million).

The Trustees do not consider there are any other critical judgements or sources of estimation uncertainty requiring disclosure.

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3. Funding for grants and services

During the year, funding was received from the following sources for the group and charity’s single charitable activity:

2025 Government grants and contracts England Northern Ireland Scotland Take a Break Scotland Wales Other sources of funding Motability Foundation Marian Elizabeth Trust Pears Foundation Garfield Weston Foundation Julia Rausing Trust The Access Foundation Other trust/foundation funding	Unrestricted £’000 - - - - -	Designated £’000 - - - - -	Restricted £’000 25,368 1,572 2,874 1,500 360	Endowment £’000 - - - - -	2025 Total £’000 25,368 1,572 2,874 1,500 360
	- - - - - - -	- - - - - - -	31,674 5,000 200 345 100 500 49 82	- - - - - - - -	31,674 5,000 200 345 100 500 49 82
	-	-	37,950	-	37,950

2024 Unrestricted £’000 Government grants England - Northern Ireland - Scotland - Take a Break Scotland - Wales - - Other sources of funding Motability Foundation - Marian Elizabeth Trust - Pears Foundation - Garfield Weston Foundation - Good Things Foundation/HMRC - Carer’s Trust Wales - Other trust/foundation funding - -	Designated £’000 - - - - -	Restricted £’000 29,213 1,572 2,785 1,500 360	Endowment £’000 - - - - -	2024 Total £’000 29,213 1,572 2,785 1,500 360
	- - - - - - - -	35,430 5,500 200 345 100 9 85 70	- - - - - - - -	35,430 5,500 200 345 100 9 85 70
	-	41,739	-	41,739

The government funding departments are detailed within the Financial Review section of the Strategic Report. There are no unfulfilled conditions or other contingencies attached to the grants or contracts that have been recognised in income for the year.

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

4. Cost of delivering grants and services to families

The direct cost of delivering grants and services to families comprises staff costs relating to the assessment and processing of grant applications. All costs are paid out of unrestricted funds; with a fund transfer from restricted to unrestricted funds for each funder to represent their share of the costs.

Unrestricted £’000 - - 2,900	Designated £’000 479 190 296	Restricted £’000 - - 273	2025 Total £’000 479 190 3,469
2,900	965	273	4,138
2,900	965	273	4,138
Unrestricted £’000 - 51 2,792	Designated £’000 581 129 303	Restricted £’000 - - 445	2024 Total £’000 581 180 3,540 4,301 4,301
2,843	1,013	445
2,843	1,013	445

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

5. Grants and services to families

Unrestricted funds £’000 - - - - - - - - - -	Designated funds £’000 18 5 92 114 390 24 19 3 - 2	Restricted funds £’000 11,573 5,083 5,425 5,561 2,496 4,162 1,332 421 578 476
- 10 -	667 1 3	37,107 24 14
10 -	671 37,145 (16) (1,981)
10	655	35,164
Unrestricted funds £’000 - - - - - - - - - - - 62 - - 62 - 62	Designated funds £’000 97 37 164 126 218 43 15 4 22 3	Restricted funds £’000 11,074 6,507 5,325 4,838 2,604 4,670 1,888 355 544 296
	729 2 - 4	38,101 11 9 -
	735 (36)
	699	36,049

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

Grants and services analysed by funding stream

Unrestricted £’000 - - - - - - - - 10 - - - -	Designated £’000 - - - - - 50 - 107 1 - 505 5 3	Restricted £’000 26,328 1,388 2,615 315 1,350 119 380 451 24 4,161 - - 14	2025 Total £’000 26,328 1,388 2,615 315 1,350 169 380 558 35 4,161 505 5 17
10	671	37,145	37,826
Unrestricted £’000 - - - - - - - - - 62 - - - - -	Designated £’000 - - - - - 191 - 147 - - - - 264 127 6	Restricted £’000 26,064 1,352 2,526 305 1,351 191 112 584 20 11 9 5,596 - - -	2024 Total £’000 26,064 1,352 2,526 305 1,351 382 112 731 20 73 9 5,596 264 127 6
62	735	38,121	38,918

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

Number of grants and services

Unrestricted No. - - - - - - - - - - - -	Designated No. - - - - - - 19 - 205 277 1,451	Restricted No. 69,593 3,880 6,454 983 4,223 502 - 233 493 1,175 -	2025 No. 69,593 3,880 6,454 983 4,223 502 19 233 698 1,452 1,451
- 204 -	1,952 263 7,175	87,536 646 113,541	89,488 1,113 120,716
204	9,390	201,723	211,317
Unrestricted No. - - - - - - - - - - - - -	Designated No. - - - - - - - - 336 - 570 351 854	Restricted No. 64,514 4,007 6,197 982 1 4,304 98 317 - 461 568 1,407 -	2024 No. 64,514 4,007 6,197 982 1 4,304 98 317 336 461 1,138 1,758 854
- 504 - -	2,111 9 420 7, 618	82,856 134 250 60,299	84,967 647 670 67,917
504	10,158	143,539	154,201

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

6. Support costs

The breakdown of support costs attributable to the charitable activities of Family Fund are as follows:

2025: Group and charity Development and Engagement Governance costs HR costs Finance and office costs Pension costs – changes to contributions Depreciation/loss on disposal Total – charity (net of management income) Management charge Total – group	Unrestricted funds £’000 580 196 298 894 3 46	Designated funds £’000 32 2 33 113 - 91	Restricted funds £’000 - - - - - -	Total funds 2025 £’000 612 198 331 1,007 3 137
	2,017 170	271 -	- -	2,288 170
	2,187	271	-	2,458

Management income and charge is the recharge of certain costs from Family Fund to Family Fund Trading Limited, which are eliminated on consolidation.

2024: Group and charity Development and Engagement Governance costs HR costs Finance and office costs Finance cost – unwinding of pension discount Depreciation/loss on disposal Total – charity (net of management income) Management charge Total – group	Unrestricted funds £’000 594 276 282 981 5 15	Designated funds £’000 28 2 74 90 - 90	Restricted funds £’000 - - - - - -	Total funds 2024 £’000 622 278 356 1,071 5 105
	2,153 150	284 -	- -	2,437 150
	2,303	284	-	2,587

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

7. Net income for the year

	2025	2024
	£’000	£’000
Net income is stated after charging:
Depreciation of owned assets	106	105
Loss on disposal of assets	31	-
Finance cost – unwinding of discount	-	5
Rentals under operating leases – land and buildings	201	193
Auditors’ remuneration:
• Fees payable to the charity’s auditors for the audit of the charity’s annual
financial statements	30	32
• Fees payable to the charity’s auditors for the audit of the charity’s subsidiary	22	19
• Other services – taxation compliance services	2	2
• Other non-audit assurance	7	9

8. Analysis of staff costs, Trustee remuneration and expenses and the cost of key management personnel

The average number of full-time equivalent staff employed by the Group during the year was 197 (2024: 202).

Their aggregate remuneration comprised: Wages and salaries Social security costs Pension costs	Group 2025 £’000 2024 £’000 5,994 5,881 533 527 438 443	Group 2025 £’000 2024 £’000 5,994 5,881 533 527 438 443	Charity 2025 £’000 2024 £’000 4,375 4,402 461 460 387 394	Charity 2025 £’000 2024 £’000 4,375 4,402 461 460 387 394
	6,965	6,851	5,223	5,256

The number of Group employees whose emoluments, excluding pension contributions and employers’ national insurance, but including benefits in kind, were in excess of £60,000 was:

	2025 No.	2024 No.
£40,000 - £50,000	-	1
£50,000 -£60,000	1	-
£60,000 - £70,000	-	3
£70,000 - £80,000	4	2
£80,000 - £90,000	1	3
£90,000 - £100,000	3	-
£140,000 - £150,000	1	1

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

The key management personnel of the Group are Cheryl Ward (Group Chief Executive), Claire Locker (Group Director of Finance), Louise Wood (Chief Operating Officer), Ben Calverley (Director of Grant Services), Andrew Harper (Director of Partnerships, Public Affairs and Family Outcomes), John Mawson (Group Director of Technology and Digital), Tracy Evans (Group Director of HR and Facilities), Sam Faddy (Group Director of Internal Assurance), Julie Charlton (Group Director of Fundraising and Comms ), Philip Henderson (Group Director of Income and Engagement).

The total remuneration (including pension contributions and employers’ national insurance) of the key management personnel for the year totalled £1,013k (2024: £947k).

Trustees’ remuneration

No trustees received remuneration during the current or prior year. Total travel and subsistence expenses of £3,000 (2024: £15,540) were paid to 8 trustees (2024: 15 trustees).

No trustee received payment for professional or other services supplied to the charity (2024: £-).

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

9. Tangible assets

Leasehold improvements £’000 Furniture and equipment £’000 Computer equipment and software £’000 Total £’000 172 17 562 751 - 26 7 33 (124) (1) (2) (127) 48 42 567 657 108 15 330 453 11 3 92 106 (93) (1) (2) (96) 26 17 420 463 22 25 147 194 64 2 232 298	Leasehold improvements £’000 Furniture and equipment £’000 Computer equipment and software £’000 Total £’000 172 17 562 751 - 26 7 33 (124) (1) (2) (127) 48 42 567 657 108 15 330 453 11 3 92 106 (93) (1) (2) (96) 26 17 420 463 22 25 147 194 64 2 232 298	Leasehold improvements £’000 Furniture and equipment £’000 Computer equipment and software £’000 Total £’000 172 17 562 751 - 26 7 33 (124) (1) (2) (127) 48 42 567 657 108 15 330 453 11 3 92 106 (93) (1) (2) (96) 26 17 420 463 22 25 147 194 64 2 232 298
26	17	420
22	25	147
64	2	232

Leasehold improvements £’000 Furniture and equipment £’000 Computer equipment and software £’000 Total £’000 172 17 455 644 - 26 7 33 (124) (1) (2) (127) 48 42 460 550 108 15 223 346 11 3 92 106 (93) (1) (2) (96) 26 17 313 356 22 25 147 194 64 2 232 298	Leasehold improvements £’000 Furniture and equipment £’000 Computer equipment and software £’000 Total £’000 172 17 455 644 - 26 7 33 (124) (1) (2) (127) 48 42 460 550 108 15 223 346 11 3 92 106 (93) (1) (2) (96) 26 17 313 356 22 25 147 194 64 2 232 298	Leasehold improvements £’000 Furniture and equipment £’000 Computer equipment and software £’000 Total £’000 172 17 455 644 - 26 7 33 (124) (1) (2) (127) 48 42 460 550 108 15 223 346 11 3 92 106 (93) (1) (2) (96) 26 17 313 356 22 25 147 194 64 2 232 298
26	17	313
22	25	147
64	2	232

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

10. Fixed asset investments

Charity	2025	2024
	£	£
Cost
At 1 April and 31 March	1	1

The company owns the entire issued ordinary share capital of Family Fund Trading Limited, a company incorporated and registered in England and Wales (company number 06293129), whose registered office address is Unit 3, Alpha Court, Monks Cross Drive, Huntington, York, YO32 9WN. Family Fund Trading’s principal activity is to work commercially for its parent, undertaking activities to provide financial support to Family Fund so that it can sustain its work, develop its services and continue to make a difference to families who care for a disabled child or young person.

The result of Family Fund’s trading activities through its subsidiary undertaking is detailed below. Family Fund Trading Limited’s taxable profits are generally donated to the charity annually.

Turnover Cost of sales Gross profit Administrative expenses Operating profit Finance income (net) - interest receivable Profit before taxation Retained profit for the year The aggregate of the assets and liabilities was: Fixed assets Current assets Current liabilities Net assets	2025 £’000 2024 £’000 5,592 6,373 (751) (887)	2025 £’000 2024 £’000 5,592 6,373 (751) (887)
	4,841 5,486 (2,181) (2,023)
	2,660 211	3,463 240
	2,871	3,703
	2,871	3,703
	2025 £’000 2024 £’000 - - 5,386 5,336 (4,542) (4,308)
	844	1,028

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

11. Debtors

Trade debtors Amounts owed by subsidiary undertaking Prepayments and accrued income	2025 £’000 2,537 - 2,383 4,920	Group 2024 £’000 2,463 - 2,841	2025 £’000 - 98 1,248	Charity 2024 £’000 - 88 1,208
		5,304	1,346	1,296

12. Analysis of cash, cash equivalents and short-term investments

Group 2025 £’000 2024 £’000 18,056 20,601	Group 2025 £’000 2024 £’000 18,056 20,601	2025 £’000 16,341	Charity 2024 £’000 19,361
18,056	20,601	16,341	19,361
2025 £’000 1,750	Group 2024 £’000 1,750	2025 £’000 1,750	Charity 2024 £’000 1,750
1,750	1,750	1,750	1,750

The balance of £1.75 million classified as cash and cash equivalents in the 2024 financial statements has been reclassified as short term investments to better reflect the nature of the balance.

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

13. Creditors: amounts falling due within one year

Group 2025 £’000 2024 £’000 7,077 9,650 3,692 3,589 143 71 623 580 697 689	Group 2025 £’000 2024 £’000 7,077 9,650 3,692 3,589 143 71 623 580 697 689	Charity 2025 £’000 2024 £’000 7,077 9,650 307 226 3 15 240 307 160 161	Charity 2025 £’000 2024 £’000 7,077 9,650 307 226 3 15 240 307 160 161
12,232	14,579	7,787	10,359
Group 2025 £’000 2024 £’000 71 145 (71) (145) 143 71		Charity 2025 £’000 2024 £’000 15 - (15) - 3 15 3 15
143	71	3

Deferred income for the trading subsidiary comprises of fees for using the company’s online fulfilment portal as well as treasury management fee income, which are invoiced to customers in March 2025, but relate to the financial year April 2025 to March 2026.

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

14. Post-employment benefits

Defined benefit schemes

TPT Retirement Solutions – Scottish Voluntary Sector Pension Scheme (SVSPS)

The charity participates in the SVSPS, a multi-employer scheme which provides benefits to around 77 non-associated employers. The scheme is a defined benefit scheme in the UK. It is not possible for the charity to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore, it accounts for the scheme as a defined contribution scheme.

TPT Retirement Solutions – The Growth Plan

The charity participates in the Growth Plan, a multi-employer scheme which provides benefits to some 521 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the charity to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore, it accounts for the scheme as a defined contribution scheme.

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The schemes are both classified as a 'last man standing arrangement'. Therefore, the charity is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

Summary of defined benefit pension schemes

The total movement in the year on the defined benefit pension schemes is shown in the table below:

Pension liability at 1 April 2024 Deficit contributions paid in the year Pension liability at 1 April 2023 Deficit contributions paid in the year Finance cost – unwinding of pension discount Pension liability at 31 March 2024	SVSPS £’000 Growth Plan £’000 Total 2025 £’000 24 1 25 (24) (1) (25) SVSPS £’000 Growth Plan £’000 Total 2024 £’000 157 3 160 (138) (2) (140) 5 - 5	SVSPS £’000 Growth Plan £’000 Total 2025 £’000 24 1 25 (24) (1) (25) SVSPS £’000 Growth Plan £’000 Total 2024 £’000 157 3 160 (138) (2) (140) 5 - 5	SVSPS £’000 Growth Plan £’000 Total 2025 £’000 24 1 25 (24) (1) (25) SVSPS £’000 Growth Plan £’000 Total 2024 £’000 157 3 160 (138) (2) (140) 5 - 5
	24	1	25

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

Deficit contributions – The Scottish Voluntary Pension Scheme

A full actuarial valuation for the scheme was carried out on 30 September 2023 which showed total scheme assets of £86.1 million, liabilities of £88.2 million and a deficit of £2.1 million. The scheme will rely on the performance of its investments to close the gap; therefore, no deficit contributions are payable by Family Fund following the end of the previous recovery plan on 31 May 2024. This position will be reassessed at the next valuation in September 2026. Family Fund will still be required to make contributions to the scheme expenses from 1 April 2025, totalling £39,756 per annum; increasing by 3% on 1 April each year. Contributions payable under the previous recovery plan from 1 April 2022 to 31 May 2024 were £133,601 plus scheme expenses of £22,662 per annum; increasing by 3% each year on 1 April.

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the scheme liabilities.

Deficit contributions – The Growth Plan

A full actuarial valuation for the scheme was carried out on 30 September 2023 which showed total scheme assets of £514.9 million, liabilities of £531 million and a deficit of £16.1 million. To eliminate this funding shortfall, the Scheme Trustee has asked the participating employers to pay additional contributions to the scheme. Family Fund’s contributions to the scheme from 1 April 2025 are £1,172 plus scheme expenses of £2,372 per annum; increasing by 3% each year on 1 April.

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

Where either or both of the schemes are in deficit and where the charity has agreed to a deficit funding arrangement, the charity recognises a liability for this obligation. The amount recognised is the net present value of the deficit contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

Present values of provisions

	2025	2024
	£’000	£’000
Scottish Voluntary Pension Scheme	-	24
Growth Plan	3	1

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

Statement of financial activities impact

t 31 March 2025	SVSPS £’000	Growth Plan £’000
nce cost	-	-
Remeasurements – impact of any change in
assumptions	-	-
Remeasurements – amendments to the contribution schedule	-	3
As at 31 March 2024	SVSPS £’000	Growth Plan £’000
Finance cost	5	-
Remeasurements – impact of any change in
assumptions	-	-
Remeasurements – amendments to the contribution
schedule	-	-
Assumptions
	31 March 2025	31 March 2024
	% per annum	% per annum
Rate of discount – SVSPS	4.98	4.90
Rate of discount – Growth Plan	4.84	5.31

The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions. The charity must recognise a liability measured as the present value of the contributions payable that arise from the deficit recovery agreement and the resulting expense in the Statement of Financial Activities i.e. the unwinding of the discount rate as a finance cost in the financial year in which it arises.

It is these contributions that have been used to derive the charity's balance sheet liability.

Defined contribution scheme

Family Fund offers a defined contribution Group Personal Pension Plan administered by Scottish Widows. This scheme is funded by contributions from employees and the charity/trading subsidiary as employer. Family Fund's contribution to the Group Personal Pension Plan in the year was £338,089 (2024: £345,442). Fund contributions due to the scheme as at 31 March 2025 were £63,685 (2024: £59,445).

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

15. Movement on funds

At 1 April 2024 £’000 4,153	Income £’000 3,677	Expenditure (incl taxation) £’000 (4,927)	Transfers £’000 3,510	At 31 March 2025 £’000 6,413
4,153	3,677	(4,927)	3,510	6,413
126 115 1,105 918 560 97 330 9 949 - 47 3	- - - - - - - - - - - -	(68) - (486) (306) (220) (102) (564) (6) (382) (11) (46) (1)	1 (115) (240) (58) 30 101 335 214 (170) 11 - (2)	59 - 379 554 370 96 101 217 397 - 1 -
4,259	-	(2,192)	107	2,174
1,886 107 78 47 - 392 225 2 - - 77 20	25,641 1,589 2,901 365 1,500 5,030 200 100 345 - 731 26	(24,912) (1,299) (2,468) (294) (1,350) (4,162) (380) (86) (289) (104) (93) -	(2,474) (281) (430) (68) (150) (154) (35) (16) (45) 235 51 -	141 116 81 50 - 1,106 10 - 11 131 766 46
2,834	38,428	(35,437)	(3,367)	2,458
921	29	-	(250)	700
921	29	-	(250)	700
12,167 1,028	42,134 2,748	(42,556) (2,932)	- -	11,745 844
13,195	44,882	(45,488)	-	12,589

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

Restricted funding is provided by the UK government and devolved nations to provide financial grant support to families, parents and others with parental responsibilities in the United Kingdom caring for disabled or seriously ill children up to the age of 18, living at home.

Funding for the Take a Break Scotland programme promotes carer health and wellbeing by providing grants to parent carers of disabled children and young people up to the age of 20, living in Scotland, to help them access a short break from the day-to-day routine of caring.

Funding from Motability Foundation allowed Family Fund to set up the Family Fund Mobility Support grant programme which aims to help families raising a disabled or seriously ill child under three years old to meet their mobility needs through a car leasing package. The Marian Elizabeth Trust provide grant funding to support families caring for children with multiple complex support needs living in specific locations across Birmingham, Chester, Leicester, Peterborough and surrounding areas.

The Garfield Weston Foundation provided funding into Family Fund’s Wales Essentials grant scheme which supports families caring for disabled children up to the age of 18, living in Wales.

The Pears Foundation provide funding into Family Fund’s Your Opportunity grant scheme which supports disabled and seriously ill young adults aged 18 to 24 years old, living at home.

Restricted donations and funding from other trusts and foundations are to be used for grants to families, digital skills training and developing our information and support for families.

Transfers from restricted funds represent each programme’s share of support costs and the cost of delivering grants and services to families.

Designated funds are to be used:

to improve the ICT infrastructure in order to enhance service delivery to families;
to provide direct grant support, services and information provision to families; and
to deliver Family Fund’s strategy, including investment in targeted fundraising activities.

The endowment fund (The Ted Gostling Fund) has arisen from £1 million received from The Edward Gostling Foundation. The funds are to be used for the purpose of providing grants to families living in the United Kingdom who are raising disabled or seriously ill young people within the 18 to 25 year age group. Each year, the charity may apply income and capital from the endowment, limited to 10% of the original capital value and in each subsequent year, £100,000 plus any interest earned on the remaining endowment in the previous year. From 1 April 2033, the charity may use all income and remaining capital for any purpose that furthers the charity's objectives. The balance carried forward represents the capital and investment income thereon which have not been expended.

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

Prior year movement on funds

At 1 April 2023 £’000 2,518	Income £’000 4,435	Expenditure (incl taxation) £’000 (5,058)	Transfers £’000 2,258	At 31 March 2024 £’000 4,153
2,518	4,435	(5,058)	2,258	4,153
194 115 1,333 775 528 248 372 - 745 51 210 88	- - - - - - - - - - - -	(68) - (591) (263) (203) (151) (372) (126) (243) (51) (183) (1)	- - 363 406 235 - 330 135 447 - 20 (84)	126 115 1,105 918 560 97 330 9 949 - 47 3
4,659	-	(2,252)	1,852	4,259
2,256 84 78 32 - 640 165 12 31 49 - 33 73 -	29,456 1,585 2,807 363 1,500 5,580 200 100 345 - 85 96 28 9	(26,984) (1,281) (2,383) (283) (1,351) (5,596) (105) (95) (331) (134) (81) (51) (79) (9)	(2,842) (281) (424) (65) (149) (232) (35) (15) (45) 85 (4) (1) (2) -	1,886 107 78 47 - 392 225 2 - - - 77 20 -
3,453	42,154	(38,763)	(4,010)	2,834
1,000	21	-	(100)	921
1,000	21	-	(100)	921
11,630 1,198	46,610 2,740	(46,073) (2,910)	- -	12,167 1,028
12,828	49,350	(48,983)	-	13,195

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

The Garfield Weston Foundation provide funding into Family Fund’s Wales Essentials grant scheme which supports families caring for disabled children up to the age of 18, living in Wales. The Wales Essentials scheme was established following a change of focus for the Welsh Government scheme towards short breaks.

The Pears Foundation provide funding into Family Fund’s Your Opportunity grant scheme which supports disabled and seriously ill young adults aged 18 to 24 years old, living at home.

Transfers from restricted funds into unrestricted funds represent each programme’s share of support costs and the cost of delivering grants and services to families.

Designated funds are to be used:

to improve the ICT infrastructure in order to enhance service delivery to families;
to provide direct grant support, services and information provision to families; and
to deliver Family Fund’s strategy, including investment in targeted fundraising activities.

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

16. Analysis of assets and liabilities between funds

Unrestricted funds £’000 Designated funds £’000 Restricted funds £’000 Endowment funds £’000 194 - - - 12,078 2,264 9,684 700 (4,916) (90) (7,226) - (96) - - - (3) - - -	Unrestricted funds £’000 Designated funds £’000 Restricted funds £’000 Endowment funds £’000 194 - - - 12,078 2,264 9,684 700 (4,916) (90) (7,226) - (96) - - - (3) - - -	Unrestricted funds £’000 Designated funds £’000 Restricted funds £’000 Endowment funds £’000 194 - - - 12,078 2,264 9,684 700 (4,916) (90) (7,226) - (96) - - - (3) - - -	Unrestricted funds £’000 Designated funds £’000 Restricted funds £’000 Endowment funds £’000 194 - - - 12,078 2,264 9,684 700 (4,916) (90) (7,226) - (96) - - - (3) - - -	Total £’000 194 24,726 (12,232) (96) (3)
7,257	2,174	2,458	700	12,589
Unrestricted funds £’000 Designated funds £’000 Restricted funds £’000 Endowment funds £’000 194 - - - 6,789 2,264 9,684 700 (471) (90) (7,226) - (96) - - - (3)				Total £’000 194 19,437 (7,787) (96) (3)
6,413	2,174	2,458	700	11,745

Prior year analysis of assets and liabilities between funds

Unrestricted funds £’000 Designated funds £’000 Restricted funds £’000 Endowment funds £’000 298 - - - 9,883 4,372 12,479 921 (4,821) (113) (9,645) - (154) - - - (25) - - -	Unrestricted funds £’000 Designated funds £’000 Restricted funds £’000 Endowment funds £’000 298 - - - 9,883 4,372 12,479 921 (4,821) (113) (9,645) - (154) - - - (25) - - -	Unrestricted funds £’000 Designated funds £’000 Restricted funds £’000 Endowment funds £’000 298 - - - 9,883 4,372 12,479 921 (4,821) (113) (9,645) - (154) - - - (25) - - -	Unrestricted funds £’000 Designated funds £’000 Restricted funds £’000 Endowment funds £’000 298 - - - 9,883 4,372 12,479 921 (4,821) (113) (9,645) - (154) - - - (25) - - -	Total £’000 298 27,655 (14,579) (154) (25)
5,181	4,259	2,834	921	13,195
Unrestricted funds £’000 Designated funds £’000 Restricted funds £’000 Endowment funds £’000 298 - - - 4,635 4,372 12,479 921 (601) (113) (9,645) - (154) - - - (25) - - -				Total £’000 298 22,407 (10,359) (154) (25)
4,153	4,259	2,834	921	12,167

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

17. Operating leasing commitments

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

Group and Charity - within one year - between one and five years - more than five years	2025 Land and buildings £’000 81 323 -	2024 Land and buildings £’000 201 325 79
	404	605

A lease provision of £19,249 (2024: £29,000) has arisen as a result of rent-free periods within the building lease, which are amortised over the lease term.

Family Fund has exercised the lease break clause on one of the offices, with an effective date of 24 March 2025. A dilapidations provision of £125,000 was created in 2024 but the actual cost of the dilapidations settlement and associated legal fees is £76,751 so the provision has been reduced accordingly, with the balance being payable in early 2025/26.

18. Related party transactions

The aggregate value of donations received from trustees without conditions during the year was £3,000 (2024: £7,000).

The only transactions with the company’s subsidiary are a management charge of £170,000 (2024: £150,000) and the gift aid distribution from Family Fund Trading Limited of £3.1 million. At the year end, the balance outstanding owed from the subsidiary to the company was £98,000 (2024: £88,000). All transactions between Family Fund and Family Fund Trading Limited are eliminated on consolidation.

There are no other related party transactions.

For key management personnel and trustees’ remuneration see Note 8.

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

19. Reconciliation of net income to net cash flow from operating activities

Unrestricted 2025 £’000 Designated 2025 £’000 2,076 (2,085) (513) - 137 - 479 10 95 (23) (22) - (58) -	Unrestricted 2025 £’000 Designated 2025 £’000 2,076 (2,085) (513) - 137 - 479 10 95 (23) (22) - (58) -	Restricted 2025 £’000 (376) (352) - (105) (2,419) - -	Endowment 2025 £’000 (221) (29) - - - - -	Total 2025 £’000 (606) (894) 137 384 (2,347) (22) (58)
2,194	(2,098)	(3,252)	(250)	(3,406)
Unrestricted 2025 £’000 2,260 (302) 137 45 (130) (22) (58)	Designated 2025 £’000 (2,085) - - 10 (23) - -	Restricted 2025 £’000 (376) (352) - (105) (2,419) - -	Endowment 2025 £’000 (221) (29) - - - - -	Total 2025 £’000 (422) (683) 137 (50) (2,572) (22) (58)
1,930	(2,098)	(3,252)	(250)	(3,670)

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

Prior year reconciliation of net income to net cash flow from operating activities

Group Net income for the reporting period Adjustments for: Interest receivable (Increase)/Decrease in short-term Investments Depreciation charges (Increase) in debtors Increase in creditors Decrease in pension provision Decrease in lease provision Net cash provided by operating activities	Unrestricted 2024 £’000 Designated 2024 £’000 1,465 (400) (473) - (250) - 105 - 1,652 7 (2,266) (95) (135) - 105 -	Unrestricted 2024 £’000 Designated 2024 £’000 1,465 (400) (473) - (250) - 105 - 1,652 7 (2,266) (95) (135) - 105 -	Restricted 2024 £’000 (619) (362) - - (37) (953) - -	Endowment 2024 £’000 Total 2024 £’000 (79) 367 (21) (856) - (250) - 105 1,000 2,622 - (3,314) - (135) - 105	Endowment 2024 £’000 Total 2024 £’000 (79) 367 (21) (856) - (250) - 105 1,000 2,622 - (3,314) - (135) - 105
	203	(488)	(1,971)	900	(1,356)

Charity Net income for the reporting period Adjustments for: Interest receivable Depreciation charges (Increase)/Decrease in short-term Investments (Increase) in debtors Increase in creditors Decrease in pension provision Decrease in lease provision Net cash provided by operating activities	Unrestricted 2024 £’000 1,635 (233) 105 (250) (131) 292 (135) 105	Designated 2024 £’000 (400) - - 7 (95) - -	Restricted 2024 £’000 (619) (362) - (37) (953) - -	Endowment 2024 £’000 (79) (21) - 1,000 - - -	Total 2024 £’000 537 (616) 105 (250) 839 (756) (135) 105
	1,338	(488)	(1,971)	900	(171)

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

20. Prior year consolidated statement of financial activities

Unrestricted funds £’000 - - 329	Designated funds £’000 - - -	Restricted funds £’000 41,739 - 53	Endowment funds £’000 - - -	Total funds 2024 £’000 41,739 - 382	Total funds 2023 £’000 39,888 4 384
329 6,373 473	- - -	41,792 - 362	- - 21	42,121 6,373 856	40,276 5,871 241
7,175	-	42,154	21	49,350	46,388
(2,843) (62) - (2,303)	(1,013) (735) 36 (284)	(445) (38,121) 2,072 -	- - - -	(4,301) (38,918) 2,108 (2,587)	(3,417) (38,524) 2,800 (2,266)
(5,208) (2,760) -	(1,996) - (256)	(36,494) - (13)	- - -	(43,698) (2,760) (269)	(41,407) (2,521) (269)
(7,968) -	(2,252) -	(36,507) (2,256)	- -	(46,727) (2,256)	(44,197) -
(7,968)	(2,252)	(38,763)	-	(48,983)	(44,197)
(793) -	(2,252) -	3,391 -	21 -	367 -	2,191 -
(793) 2,258	(2,252) 1,852	3,391 (4,010)	21 (100)	367 -	2,191 -
1,465	(400)	(619)	(79)	367	2,191
3,716 1,465	4,659 (400)	3,453 (619)	1,000 (79)	12,828 367	10,637 2,191
5,181	4,259	2,834	921	13,195	12,828

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

Prior year charity statement of financial activities

Unrestricted funds £’000 - - 4,202	Designated funds £’000 - - -	Restricted funds £’000 41,739 - 53	Endowment funds £’000 - - -	Total funds 2024 £’000 41,739 - 4,255	Total funds 2023 £’000 39,888 4 3,309
4,202 233	- -	41,792 362	- 21	45,994 616	43,201 209
4,435	-	42,154	21	46,610	43,410
(2,843) (62) - (2,153)	(1,013) (735) 36 (284)	(445) (38,121) 2,072 -	- - - -	(4,301) (38,918) 2,108 (2,437)	(3,407) (38,524) 2,800 (2,148)
(5,058) - -	(1,996) (256) -	(36,494) (13) (2,256)	- - -	(43,548) (269) (2,256)	(41,279) (269) -
(5,058)	(2,252)	(38,763)	-	(46,073)	(41,548)
(623) 2,258	(2,252) 1,852	3,391 (4,010)	21 (100)	537 -	1,862 -
1,635	(400)	(619)	(79)	537	1,862
2,518 1,635	4,659 (400)	3,453 (619)	1,000 (79)	11,630 537	9,768 1,862
4,153	4,259	2,834	921	12,167	11,630

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

Officers and professional advisers

Trustees and Officers

Roy O’Shaughnessy – Chair Neil Ashton – Vice Chair Jonathan Evans (retired at end of term on 13 December 2024) Gareth Lambert Andrew Piper (retired at end of term on 28 March 2025) Shona Elliott Marguerite Haye (retired on 27 June 2025) Emma Pinnock Paul Bass Michal Noe Ian Thomas Joanne McDowell Katie Roberts (appointed 28 June 2024) David Cook (appointed 7 March 2025) Carmen Whitelock (appointed 7 March 2025)

Finance, Audit and Risk Committee

Gareth Lambert - Chair Andrew Piper Neil Ashton Michal Noe Katie Roberts

People and Nominations Committee

Jonathan Evans – Chair until September 2024 Paul Bass – Chair from December 2024 Roy O’Shaughnessy Emma Pinnock

Safeguarding Committee

Emma Pinnock – Chair Marguerite Haye Ian Thomas Joanne McDowell

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

Family Fund Trading Directors

Mark Robson – Chair Philip Henderson Cheryl Ward Claire Locker (also Company Secretary) Shona Elliott Ian Thomas Stephen McCartney

Principal officers

Cheryl Ward – Group Chief Executive Claire Locker – Group Director of Finance and Company Secretary Louise Wood – Chief Operating Officer Ben Calverley – Director of Grant Services John Mawson – Group Director of Technology and Digital Andrew Harper – Director of Partnerships, Public Affairs and Family Outcomes Tracy Evans – Group Director of HR & Facilities Julie Charlton – Group Director of Communications and Fundraising Samantha Faddy – Group Director of Internal Assurance Philip Henderson – Group Director of Income and Engagement

Bankers

National Westminster Bank Plc 1 Market Street York YO1 8SR

Solicitors

Rollits LLP Forsyth House Alpha Court Monks Cross York YO32 9WN

Independent auditor

RSM UK Audit LLP Chartered Accountants Central Square 5[th] Floor 29 Wellington Street Leeds LS1 4DL

Registered office

3 Alpha Court Monks Cross Drive Huntington York YO32 9WN

Docusign Envelope ID: 8A720E35-7DC5-4FE8-9519-CE2FFB3F35C6

find us:

Family Fund 3 Alpha Court Monks Cross Drive Huntington York YO32 9WN

talk to us:

Telephone: 01904 550055 Fax: 01904 652625

Email: info@familyfund.org.uk

online:

www.familyfund.org.uk

community:[@familyfund] IX]if @familyfund

Family Fund Trust. Private company limited by guarantee. Incorporated in England and Wales. Registration no. 3166627. Registered charity no. 1053866. Scottish charity no. SC040810. Registered office: Unit 3, Alpha Court, Monks Cross Drive, Huntington, York YO32 9WN. Family Fund Trust is authorised and regulated by the Financial Conduct Authority (FCA) under reference number 912508.

Annual Report and Financial Statements

Contents

Chair’s review of Family Fund

ROY O’SHAUGHNESSY Chair of Trustees

Trustee’s report

Structure, governance and management

Group status

Governing document

Governance and management

Staff Pay policy

Secure and accurate processes meeting legal requirements

Objectives

Family Support policy

Environmental statement

Statement of Trustees’ responsibilities

Strategic report

Background: why our work matters more than ever

Strategy and activities

Delivering life-changing support

What we achieved:

Growing to do more for more families

Partnering for change

What we achieved:

Enabling our people to thrive and strengthening our systems

What we achieved:

Financial review

Fundraising

Fundraising Standards

Fundraising Complaints

Protecting Vulnerable Individuals

Volunteers

Reserves policy

Investment policy

The year ahead

Delivering essential support to families

Principal Risks and Uncertainties

Going concern basis

Internal financial control

Provision of information to auditors

Section 172 statement

Independent Auditors

Independent auditor’s report to the members and Trustees of Family Fund Trust

Opinion

Basis for opinion

Conclusions relating to going concern

Other information

Opinions on other matters prescribed by the Companies Act 2006

Matters on which we are required to report by exception

Responsibilities of Trustees

Auditor’s responsibilities for the audit of the financial statements

The extent to which the audit was considered capable of detecting irregularities, including fraud

Use of our report

LUCY ROBSON

Senior Statutory Auditor

Date: 26/9/2025

Family Fund Trust: Consolidated cash flow statement Year ended 31 March 2025

Family Fund Trust: Charity cash flow statement

Year ended 31 March 2025

Notes to the financial statements

1. Accounting policies

Company and charitable status

Basis of accounting

Preparation of financial statements - going concern basis

Basis of consolidation

Income

Donated goods and services

Expenditure

Fund accounting

Taxation

Tangible fixed assets and depreciation

Provisions

Operating leases

Employee benefits – Pensions

Prepayments and accrued income

Financial instruments

2. Critical accounting judgements and key sources of estimation uncertainty

3. Funding for grants and services

4. Cost of delivering grants and services to families

5. Grants and services to families