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← The Pituitary Foundation

2025-06-30-accounts

REGISTERED COMPANY NUMBER: 03253584 (England and Wales) REGISTERED CHARITY NUMBER: 1058968

THE PITUITARY FOUNDATION

(A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

THE PITUITARY FOUNDATION

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

Page
Reference and Administrative Details 1
Trustees' Report 2 to 21
Independent Examiner's Report 22
Statement of Financial Activities 23
Statement of Financial Position 24 to 25
Notes to the Financial Statements 26 to 40

THE PITUITARY FOUNDATION

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 JUNE 2025

TRUSTEES Mr T Sumpster Chair Mr A M Mackintosh Vice Chair Dr I E Macdonald Hon Secretary (resigned 20.5.25) Mr P Rouse Hon Treasurer Dr S E Baldeweg (resigned 20.5.25) Dr A M Brooke Ms D L Cooper Ms A Deleligne Mr A H Matty (resigned 2.10.24) Ms J A Phillips Mrs C E Thatcher (resigned 20.5.25) Ms N Chowdhury (appointed 2.6.25) COMPANY SECRETARY Dr I E Macdonald REGISTERED OFFICE Brunswick Court Brunswick Square Bristol BS2 8PE REGISTERED COMPANY 03253584 (England and Wales) NUMBER

REGISTERED CHARITY NUMBER 1058968 SOLICITORS TLT LLP One Redcliffe Square Bristol BS1 6TP BANKERS National Westminster Bank 32 Corn Street Bristol BS1 1IQ Royal Bank of Scotland 36-38 Baldwin Street Bristol BN1 1NR

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THE PITUITARY FOUNDATION

TRUSTEES’ REPORT FOR THE YEAR ENDED 30 JUNE 2025

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2025. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Objectives and Activities

a. The purposes of the charity as set out in our governing document

The Charity's objects, as described in our Memorandum and Articles of Association, are to promote the relief and treatment of persons suffering from pituitary disorders and related conditions and diseases, and their families, friends and carers, and to provide information and support; and to promote and support research and to disseminate for the public benefit the results of any such research.

The main activities that the Foundation undertakes to deliver on these services are:

b. Our strategy and core aims

Our current strategy was developed in 2023 and covers the four years from 2023 to 2027. It states that:

Our vision is that all people with pituitary conditions can live well, now and in the future.

Our mission (the way in which we achieve our vision) is that: We work with everyone with a pituitary condition, their support networks and healthcare professionals to raise pituitary awareness, and to reduce time to diagnosis.

We empower patients to navigate the UK healthcare system and obtain the best clinical outcomes possible and provide support to enable everyone with a pituitary condition to live as well as possible.

Our values (which inform how we approach achieving our vision) are:

We are welcoming We are caring We are empowering We are trustworthy We are collaborative

Our Objectives (which break down the practical steps we will take to achieve our vision) are:

1: We will work to reduce the time it takes to be diagnosed with a pituitary condition by increasing awareness

We have three focus areas to achieve this objective:

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2: We will empower every patient to receive the best care available to them, now and in the future

We have three areas that we focus on to achieve this objective:

3: We will support all people with pituitary conditions to live well

We have three areas that we focus on to achieve this objective:

3.3 Seek to ensure Psychological Support and broader wellbeing advice is available to everyone impacted by a pituitary condition

4: We will ensure The Foundation is robust and sustainable

We have three areas that we focus on to achieve this objective:

Achievements and performance

a. Overview of activities throughout the year

2024 was a very special year for The Foundation as we celebrated our 30[th ] anniversary. It was a fantastic opportunity for us to applaud our community and all the contributions over the decades, and to raise awareness of our activities. As part of our year of celebration we invited nominations for ‘pituitary heroes’ – people who have made an incredible contribution to our community across support services, clinical care, research, and fundraising. We received over 70 nominations from which 30 amazing individuals were selected. Throughout the year we shone a spotlight on our heroes through our website and social media, culminating in a charity reception held at University College London Hospitals in October 2025.

Volunteers were instrumental in founding the charity 30 years ago and continue to be at the heart of our work. We were pleased to develop our support for volunteers during the year with staff resource enabling us to build relationships, review and update our support materials and services for volunteers, deliver training, and (at the time of writing) start planning for an in-person volunteer weekend. During the year we saw support groups thrive with new groups starting up (in person and online), our volunteerrun helpline open every week day, and our Lived Experience Committee established. We are incredibly grateful to everyone who volunteers with The Foundation. They freely give their time to support the community we are here for, with kindness and understanding.

Our information and support services continue to be highly valued and are the cornerstones of The Foundation’s offer for the pituitary community. During the year we saw the effective delivery of our helplines and volunteer run support groups which provide vital local support. We delivered successful in-person ‘get together’ events to bring the community together in Manchester and Leicester. We also delivered an ambitious programme of online events led by experts in pituitary conditions which were well attended and with high viewing numbers of the recordings.

We have been pleased by the progress we’ve made in developing our communications and health information. As reported here we have an effective website with continuously updated content, a really strong social media presence, and an engaged community online. We were also delighted to start a project on health information which will see us review, update, and develop all of our health information.

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Providing trusted information about pituitary conditions is a vital part of our role, especially in a changing digital context, so we are pleased to be investing in this area.

Underpinning all our work is our need for income. The financial year we are reporting on saw a shortfall in our income against our costs in the year. We have assessed this within our Finance Committee and with the CEO and Head of Fundraising: a key area of underperformance was income from challenge events, so we have therefore put in place robust plans and support for our fundraisers, and are confident that 2025/26 will deliver the results we are aiming for. As always, we are incredibly grateful to all our supporters for their generosity which enables us to deliver all our services and support.

We started the financial year with many of the elements in place for providing successful delivery: a new CEO and full staff team at the start of 2025, clear strategic framework (2023-2027), excellent infrastructure, an overall sound financial base, and a supportive community. Our annual report 20242025 describes a year with many highlights, areas of development, and the effective delivery of our core services.

b. Delivery against the strategy

In this section we will look at specific activity relating to each objective, and areas we are planning to develop. We measure our success against qualitative and quantitative measures. For projects, we set objectives at the beginning, whilst for ongoing work including our advocacy we review and respond to feedback from our community. Our Lived Experience Committee assists in reviewing and guiding our work and compliments our Trustees who interrogate the value and impact of our services.

1: We will work to reduce the time it takes to be diagnosed with a pituitary condition by increasing awareness

This objective is focused on reducing the time it takes to be diagnosed through increased awareness of pituitary conditions. During the year we achieved the following:

1 (a) Awareness within Endocrinology

We are an affiliated patient support group with the Society for Endocrinology and as such contribute to and benefit from being part of a network of specialist organisations liaising directly with the clinical endocrine community.

Conferences

Attendance at conferences is an important way in which we spread awareness of the charity and its work amongst clinicians across the country and beyond. This year we attended the Society for Endocrinology’s British Endocrinology Society conference in Harrogate in November 2025. We also attended the British Society for Paediatric Endocrinology in Glasgow in October 2025. In October we attended the WAPO world congress (World Alliance of Pituitary Organisations) in Dublin which was a valuable opportunity to connect with patient advocates and patient support organisations from across the globe.

We estimate that we reached more than 4,000 health care professionals through these various conferences, and have been able to talk about our services and share resources with them in the process.

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Medical Committee

Our Medical Committee has consistently contributed to our work including ensuring we are connected across the clinical endocrine community. We are incredibly grateful to all members who freely give their time to support our work. A review of membership has led to additional specialist areas being represented, which is important given the complexity of pituitary conditions. At the time of writing there are 23 members of the Medical Committee, including:

1 (b) Awareness in Primary Care

Emergency Care

During the year we collaborated with the Addison’s Disease Self Help Group (ADSHG) in our response to the move away from ‘red flagging’ the home addresses of people with adrenal insufficiency by the AACE (Association of Ambulance Chief Executives). We recognized the importance of sharing information about this shift with our community, the purpose of summary care records (SCR), and other preparations that patients can make in case of an emergency. As part of this collaboration and response we prepared a template letter for patients to download to notify their GP practice to update their SCR.

We continue to provide the steroid emergency card, either by post or print at home versions in our member magazine Pituitary Life. During the year we sent out 455 printed cards and people were able to download from our website, with about 1,700 made available through our Pituitary Life magazine.

GP Awareness

Raising awareness of pituitary conditions with GPs is an ongoing priority for us and we are always looking for relevant opportunities to develop this. As well as the patient letter on SCRs described above, we also prepared a similar template letter for patients with AVP deficiency. Again, the aim here was to increase GP awareness of specific pituitary conditions as well as to enable patients to self-advocate and request that their records are accurate in case of emergency.

A new project on prescription length for ‘vital medications’ was in progress at the time of writing. We became aware of concerns that vital medications were being issued on 28-day prescriptions which presents several issues for our community. Once again, we were delighted to collaborate with Addison’s Disease Self Help Group. We carried out a short survey to increase our understanding of the issue and were grateful to the almost 1,400 people who shared their experience with us. At the time of writing, we are working with members of our Medical Committee on next steps.

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1 (c) Raise the general public’s awareness

Awareness Month

Every year in October we run an awareness campaign to mark ‘Pituitary Awareness Month’. It is an opportunity for us to set a theme and design activity which delivers against our awareness-raising objectives. In October 2024 our focus was ‘back to basics’ with events and information to support raising awareness of the importance of the pituitary gland, its life sustaining role, and pituitary conditions.

During the awareness month we held two online events focusing on the basics of pituitary conditions. We also held three in person events including a ‘get together’ in Manchester, a charity reception to celebrate our Pituitary Heroes in London, and an awareness walk in Bristol.

Across Awareness Month, we saw strong engagement statistics across our social media profiles. The average reach of our Instagram page almost doubled on the previous month. Our audience was particularly interested in content explaining the pituitary gland, and the causes of different pituitary conditions.

Website

Our website is one of the main ways for people to access our information and support. Following the launch of our new website in 2023 we have continued to improve its content and visual presentation. Overall, we've seen a 3.3% increase in the number of active users on the site from the previous year. Hopefully this signifies that the website is starting to regain traffic after the previous year's dip, following the launch of the new site.

During the year we published 50 blog posts on our website, including research opportunities, charity updates, expert articles and community stories. Our most popular posts were those about the desmopressin and hydrocortisone medication shortages, highlighting how valuable these updates are for our community.

Overall, our top performing pages are our information pages, specifically our 'Cushing's disease', 'What are hormones', 'What is the pituitary gland', 'Hydrocortisone Sick Day Rules' and 'Adrenal Insufficiency' pages. This suggests that our website is functioning well as an educational resource and supports those seeking out specific condition information and those wanting more general pituitary-related content.

This year, we collaborated with Rareminds (a specialist mental health services provider) to introduce our new Psychological Support Hub; a dedicated page on our website to house all our wellbeing resources and services. Since launching, we've had nearly 800 visitors to the Hub. Many visitors have returned to the Hub multiple times, suggesting that the content is relevant and valuable to them.

Social Media

Our social media profiles have continued to see strong growth across this year. In February 2025, we ran a successful Rare Disease Day social media campaign that spotlighted inspiring stories from our community members. The campaign connected well with our audience and led to the highest engagement rate in 6 months, across our Instagram, Facebook and LinkedIn profiles.

Our combined social media following has now surpassed 30,000, which is a huge achievement for a charity of our size. We intend to continue using social media as a tool to empower and inform our audiences and raise awareness of pituitary conditions and our work.

Press Coverage

In January, we were pleased to provide expert comments on Cushing's disease for a Telegraph article about the condition. Since then, we've been mentioned in a number of press articles covering Cushing's disease, AVP deficiency and Kallman's syndrome.

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Newsletters

Our monthly members’ and general newsletters provide regular touch-points for our community. Combined, our mailing list has grown to over 9,700 subscribers. Our newsletters continue to drive strong engagement with other areas of our work, including promoting attendance at our events, recruiting for volunteer positions, and signposting to our online resources.

2: We will empower every patient to receive the best care available to them, now and in the future

Our second objective focuses on empowering all patients to receive the best care available to them. We play an instrumental role in this by providing support and education to complement that provided by the NHS.

2 (a). Offering Support and Education

Helplines

Our helplines remain a vital 1-1 support offering. Our objective is to provide information and support in ways that are accessible to our community. Individuals from our community can reach us via our nurserun helpline, our volunteer-run information and support helpline, and via email.

During the year we responded to over 1,100 enquiries. This was a reduction of 450 based on the previous year. Our analysis shows this was mostly on our volunteer helpline and email helpline. During the year we had gaps on our volunteer helpline which limited the number of hours that it was available. We’ve focused on recruiting new volunteers and at the time of writing are delighted that the volunteer run helpline is open for more hours through the week.

We are always looking at ways we can develop our helpline service, taking account of the feedback that we receive. We also monitor the helpline service for any common themes that are emerging that we may need to respond to. For example, we were able to identify the issues and concerns about desmopressin spray medication supply which we mentioned elsewhere in this report.

We’d like to take this opportunity to particularly thank all volunteers who deliver the information and support helpline. With 81% of callers rating the service ‘extremely valuable’ it is clear just how valuable this is to our community, and a reflection of the quality of support that is provided. Some quotes from the year:

"Still new but very impressed with the information, services and support. thank you"

"Satisfied with everything the helpline is providing me with. Thank you."

"Keep doing what you’re doing! Thank you!"

Health information resources

We are proud of having achieved PifTick accreditation from the Patient Information Forum in 2023, and we underwent successful reassessment in 2024. This is a quality mark that reflects that we have applied good practice principles to the preparation of our health information content. We understand the importance of providing trusted information about pituitary conditions and see this as a core part of our service. During the year we were delighted to publish six updated health information booklets for our community which are PifTick accredited:

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During the latter part of the year, Trustees approved a ‘health information project’ which will see us carry out a full audit of all our health information resources, start updating existing resources, and develop new resources which meet the needs of our community. As part of this we will work closely with our Lived Experience Committee. We are extremely grateful to our Medical Committee for supporting us with our health information resources.

Also during the year we were delighted to work with SIMBA CoMICS on a new animation on Cushing’s disease, including symptoms. We engaged ‘patient reviewers’ to work with the content creation team, which resulted in an information animation which is now on our website and on YouTube. We would like to develop more health information in different formats such as this animation, and we see it as an important way to make information accessible.

Online Events

Our online events, which started as a test a couple of years ago, have become a core part of our service offer. During the year, we planned and delivered an ambitious programme which represented a doubling of the number of events held in the previous year. They covered many topics, including on specific conditions, employment rights, and nutrition. Our events are delivered ‘live’ and are recorded for posting on our YouTube channel later.

We are absolutely delighted that over 1,000 people registered for our events. Over 95% of attendees to our online events rated them excellent or good. The main reason why the majority attended was to gain information (92% of attendees), with the second most popular reason being to support The Foundation (34%). Most attendees find out about our online events on social media (41%), with the second most popular being the monthly newsletter (39%). Some quotes:

"Thank you, very informative. More of them please as I try to attend anything related to my condition"

"Thank you for organising these wonderful events. You really do touch lives and help improve people’s situations. Thank you"

"Really interesting, gave me some insights to my condition, even though I've had it for over 30 years now"

"This was one of the best webinars I’ve attended. I came away from it feeling so much better and less alone. Thank you so, so much."

We continue to develop this part of our service which is only possible due the generosity of the experts who volunteer their time including members of our Medical Committee.

Get Togethers

Our Get Together events, introduced after the pandemic, have become a regular and valued fixture of our annual calendar. This year we began involving volunteers in the planning and delivery of the Get Together events, and this has been incredibly valuable. During the year we brought our community together in Manchester and Leicester. These events were attended by over 90 people. Once again we were grateful to members of our Medical Committee for their contributions as well as volunteers and Pituitary Ambassadors.

In Manchester, 100% of attendees rated the day as good or excellent, with most attendees looking to gain information, or meet others. This was the first Get Together featuring a patient story presentation, and 100% of attendees found this to be excellent. Here is some of the feedback received:

"I really enjoyed the day, and I enjoyed talking to new people and hearing their stories. All the information was well presented and extremely useful. Thank you."

"An excellent event. Well-structured and very informative. Thank you to all involved in helping to make the day possible. It was so very much appreciated. It’s always good to pick up tips from other people’s journeys. Thank you"

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"A fantastic day. Very well organised. It has given me more strength being among other patients and also learning lots from the speakers. I hope many more of these events are put on around the country helping lots of other people too."

Over 80% of attendees in Leicester found the day to be excellent or good, with the majority of attendees wanting to improve their understanding of the topics by attending. We had some very positive feedback, including:

"A most enjoyable day, thank you."

"Thank you, the conference ran smoothly with a good opportunity to exchange stories"

"I thought [staff] were GREAT ADVOCATES for the foundation, so welcoming, professional and clear in how the day would be. WELL DONE to you both, excellent organisation and on the day attentive. "

Pituitary Life magazine

Our printed magazine, Pituitary Life, is produced three times a year and was published in Autumn 2024, Spring 2025, and Summer 2025. It is a valued part of our membership offer and is delivered to over 1,700 members. It is also available in a digital format. We are grateful to everyone who contributes content including medical experts and members of our community who generously share their experiences. During the year we established an editorial group to support the involvement of volunteers in the development of the magazine.

Our Summer 2025 was our 60[th ] edition of the magazine, reason to celebrate with a special cover image. Feedback from that edition:

“Avidly read, as always”

“I was delighted to see that you have a proforma letter to ask my GP to ensure that my adrenal insufficiency is recorded on my summary care record and have downloaded this”

2 (b). Advocate for the best medical care possible in the NHS for everyone with pituitary conditions

Advocacy on the issues that matter most to our community is an important part of our role as the leading pituitary charity in the UK. There were a number of areas where our community engagement resulted in advocacy activity.

AVP deficiency name change

We were part of the international working group supporting the implementation of the AVP deficiency name change from Diabetes Insipidus. We produced materials to raise awareness about the name change for our community including a new updated health information booklet.

Medicines shortages

We have been proactive in reaching out to the relevant authorities about shortages of medicines which included desmopressin nasal spray and hydrocortisone sodium phosphate injection, reflecting the concerns and challenges of our community. In relation to desmopressin nasal spray, this included surveying our community to find out about their experiences and reflecting these to the relevant bodies.

NHS 10 year plan

We submitted our response as part of the NHS’s engagement on its new 10 year plan, setting out the particular challenges for people with undiagnosed and diagnosed pituitary conditions. We are keen to understand more about changes which are underway including the delegation of the commissioning of specialised services, the dissolution of NHS England, and the implementation of the NHS 10 year plan. We will be monitoring these changes and advocating for the pituitary community within the rare disease space.

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Sector Engagement

We are represented on a number of working groups including: the BSPED working group for AI education standards for children and young people; DI name change working group; NHS England Policy Working group for Acromegaly; Oxytocin Study (Diabetes Insipidus Project | Patient representative); and the newly formed working group for prolactinoma treatments, launched by PROMISE Study Team, Dr Cihan Atila, MD-PhD, University Hospital Basel.

We continue to contribute to the Scottish Medical Consortium Patient Group, the Welsh Patient and Public Interest Group, the NICE Voluntary Sector and Community Sector Forum, and we are members of the ABPI Patient Organisation Forum.

Our Head of Support Services was one of the authors of ‘A Core Outcome Set for Pituitary Surgery Research: An International Delphi Consensus Study’ which has been accepted for publication by Pituitary . (June 2025)

2 (c). Champion valuable patient centred investment in the future of pituitary conditions

Networks

We are an active and affiliated member of the Society for Endocrinology Patient Support Group network, representing a valuable way of ensuring that the patient voice is heard at a foundational level. We are also a member of WAPO (World Alliance of Pituitary Organisation). These offer good opportunities to connect with pituitary patient support organisations in countries around the world.

Lived Experience Committee

We launched our Lived Experience Committee in September 2024. This is chaired by a Trustee and is made up of people with pituitary conditions. It is an important way for us to incorporate the voice of people with pituitary conditions at the heart of The Foundation. We continue to develop the work of the Lived Experience Committee including its connection with our Medical Committee.

Research and consultations

We know that our community is interested in research and we see we have a role to play in awareness of opportunities to get involved in research and to provide information about developments in the world of research. We provide news articles and lay versions of academic research where possible. We also signpost to opportunities to get involved in research where appropriate. At times, staff members will represent our community in research by providing insights based on our extensive knowledge and experience. For example, during the year we:

These are examples of the ways in which we contribute directly, signpost and support advocates to become involved, and provide information to our community about research developments in pituitary conditions.

3: We will support all people with pituitary conditions to live well

At the heart of this objective is ensuring that as many people as possible can access, engage with and benefit from our services.

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3 (a). Increase the accessibility and inclusivity of support and services

There is a high level of commitment across the charity to providing services and support which are relevant, inclusive, and accessible to everyone living with a pituitary condition. Our use of different communication channels and providing information and services in a variety of formats (for example in person and online) help to ensure that people can access what they need from us when they need it.

Support Groups

Our Support Groups have been a valued part of our service offer since the charity’s inception and continue to evolve to meet the needs of our community. At the time of writing we are grateful to long standing volunteers for their running of support groups across the UK, as well as being pleased to support the start-up of new groups.

During the year four new Support Groups were started up in Sussex, Kent, Edinburgh, and Leicester. This would not have been possible without the wonderful volunteers now leading those support groups. At the time of writing, this brings the total number of active support groups to 22, both online and inperson. During the year, the staff team visited 11 of the groups.

We have successfully introduced new online, condition specific support groups to complement those that meet in person. New groups meeting during the year include a Prolactinoma group, a young person’s group and an Acromegaly group.

At the start of 2025 we clarified our relationship with the Cushing's UK group and are proud that it is now officially a Pituitary Foundation support group. The group has been running successfully for 8 years, coming under the Foundation's umbrella post pandemic, and is now officially a support group. The amazing volunteers running the group currently support almost 3,000 members.

Membership

We are continually grateful to those in our community who support our work by becoming members. During the year we continued to put on welcome meetings to members (also non- members welcome) to demonstrate how The Foundation can support people, and the ways in which people can get involved.

At the time of writing we have 2,104 active members, including 284 individuals with ‘life membership’. During the year we began sending out renewal reminders by email with the aim of reducing postage costs. We also completed moving around 120 people from the Joint membership (which is no longer available) onto our Concessionary and Individual memberships.

3 (b). Lifestyle Support

We recognise that many pituitary conditions are lifelong, and we want to support people throughout their life, not just at the time of diagnosis. At the time of writing we are planning for a Pituitary Awareness Month theme of ‘a lifetime of hormone health’ which has been designed to cover important life stages and milestones with a pituitary condition.

3 (c). Psychological Support

Pituitary conditions can have a significant impact on mental health, so we have continued to prioritise developing our information and services offer in psychological support. This has included the following elements:

Counselling. We have been delighted to continue working with specialist mental health service provider, Rareminds. This has resulted in the delivery of over 200 individual counselling sessions. At the time of writing we are also working with Rareminds to deliver group sessions led by a therapist.

World Mental Health Awareness week (MHAW). The focus of this year's Mental Health Awareness Week was ‘community’, and the importance of positive communities in fostering psychological wellbeing. To mark this, we ran a short social media campaign highlighting this focus and thanking our

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community. We also held an online event, delivered by Dr Sue Jackson, on the topic of community and mental health.

Psychological Hub. During MHAW, we deployed our new Psychological Support Hub, an online space on our website housing our psychological support resources and services. We hope this hub will make it easier for people to find and access our existing resources, including our videos, longer reads and Rareminds counselling.

4: We will ensure The Foundation is robust and sustainable

Our objectives in this area are to ensure we have the right resources (including funding) to deliver our strategy as well be sustainable.

Governance. The Board of Trustees approved a new trustee tenure policy in November 2024 which brings The Foundation in line with good practice. This meant that sadly three long standing Trustees retired at our Annual General Meeting in May 2025 with others planning to retire in 2025/26. We are incredibly fortunate to have had many years of committed service from our retiring Trustees and wish them all the best for the future.

We carried out a skills audit earlier in the year in preparation for trustee recruitment. At the time of writing we are in the recruitment process for Medical Trustees and planning to open up recruitment for other trustee roles in the autumn of 2025. All the thinking and work on succession planning has been done to ensure that there is a managed process to support changes to the Board of Trustees.

Staff . Our staff team saw some change during the year with our incoming new CEO starting in the same month as our outgoing CEO left (July 2024), a transition managed smoothly by both individuals, for which we are grateful. We also had some other team changes which we’ve managed with minimum impact to operations and delivery. We are fortunate to have an excellent staff team with everyone demonstrating real commitment to our work. We’d like to acknowledge and thank everyone in the staff team during 2024/25 for their contributions.

Whole staff team training during the year included data protection and DEI (diversity, equality, and inclusion). Individuals in the team have also done training on first aid, volunteer management, gift aid regulations, AI (artificial intelligence), and health information.

Finance administration. We continued to roll out our new finance support for local support groups which reduces administration and increases financial controls and visibility. As part of this we produced detailed guidance for volunteers.

Fundraising . Please see the full report that follows for more details. During the year we expanded our challenge event offering through partnership with Run4Charity, and carried out a deep dive into our management of the programme including stewardship of fundraisers.

Policies and procedures. Our staff handbook includes all relevant policies and is updated when required in partnership with our external HR advisors. During the year Trustees approved a financial Reserves policy, and we updated our Safeguarding policies and processes. We also developed and approved a new ‘Working with healthcare companies’ policy and published this on our website. This ensures we are in line with good practice guidance published during the year on disclosure of funding from pharmaceutical companies.

Collaboration. We continue to strive towards collaboration where it is in the interests of our community. This includes collaborating with other patient support organisations working in the endocrine space as we’ve reported here.

Plans for Future Periods

We reported in our 2023/24 Annual Report that our reserves position provides us with an opportunity to further invest in our services and the sustainability of the charity. During the year we agreed a number of areas for investment including:

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Health information project: providing trusted health information is a core part of our services offer. Having embarked on updating our health information, we’ve invested in a dedicated project to progress this work more fully. This includes a full audit of our health information, updating existing resources, and developing new information to meet the needs of our community.

Charity sustainability: Trustees agreed to the funding of a data protection audit which has enabled us to strengthen and develop our policies and procedures in regard to handling data. We have also committed to upgrading IT kit in anticipation of the shift to Windows 11.

Psychological Support: as described elsewhere in this report we have further invested in our services and information to support people with the mental health impacts of living with a pituitary condition.

There are two areas we are developing with plans to move these forward in 2025/26:

Children and young people’s project: This project will engage with younger people in our community to understand their needs and will result in recommendations for specific activity areas.

Raising awareness: This piece of development work will see us increasing our awareness raising activity as well as engagement with supporters. We will also develop and deliver more campaigns on the issues that matter most to our community.

Public benefit

The Trustees have considered the Charity Commission's requirement in respect of Public Benefit. In their view the charity meets, in full, the criteria to satisfy the test. The Trustees' Annual Report describes the activities undertaken to further its charitable purposes for public benefit.

Financial review

a. Overview

After several years in which we successfully generated trading surpluses, in financial terms this was a more challenging year for the charity, and a reflection of the continuing economic pressures faced by everyone.

Our income for the year totalled £447,730; in the previous year we received a very large legacy of £278,000 from the Glayzer family – excluding this our income in that year was £501,565, so on a comparable basis our income this year was about 10% lower. This year we witnessed some pressure on levels of donations generally, received lower contributions from pharmaceutical companies active in the endocrine sector, and in particular saw a substantial reduction in income from Events (organised by the charity or done independently by charity supporters). We did, however, manage to raise record funds from Trusts and Foundations.

Whilst our Events income was disappointing, as ever we are grateful both to the numerous supporters who completed a broad array of challenges on our behalf, some of which are highlighted below, and to all our generous funders during the year.

Once again, our team were effective in managing our costs well, with total costs coming in at £522,778. Of this sum, £28,500 related to planned expenditure on various initiatives from reserves, so excluding that figure our underlying core costs were £494,278, an increase of only about £8,000 over the previous year.

Overall, we report a total net loss for the year of £72,355; excluding the expenditure we funded from reserves, our underlying trading deficit was £43,855.

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THE PITUITARY FOUNDATION

TRUSTEES’ REPORT FOR THE YEAR ENDED 30 JUNE 2025

Our CEO and Head of Fundraising have been working in recent months to ensure that our Events programme can bounce back this year, and we are pleased to report that early indications have been encouraging.

At the year end, our accumulated reserves had reduced to £706,719, still a very healthy level for the charity, with unrestricted reserves at £589,113 and restricted reserves of £117,606. Our reserves policy, and plans for investing some of these funds, are set out later in the section.

b. Incoming resources In 2024/25 The Foundation made income of £447,730 compared to £779,565 in the previous financial year.

c. Principal Risks and uncertainties

The charity is highly reliant on donations from individuals, Trusts and Foundations and companies; these may be affected by broad economic and other circumstances over time. We manage a database of more than two thousand members and supporters and work hard to appeal to them for their support, and we maintain strong relationships with a range of organisations many of which continue to support the charity year on year.

The Foundation receives some of its income from legacies; by its nature this income stream is unpredictable, and therefore the charity seeks to limit its reliance on this element of income, budgeting for a modest amount of legacy income.

d. Funders

The Foundation enjoys an extraordinary level of support from its community. The Trustees express their huge gratitude to all our donors: members, donors, fundraisers, companies and Trusts and Foundations. Without this support we simply could not continue. Thank you.

We are fortunate to have a huge number of supporters, many of whom wish to remain anonymous. However, we would like to recognize some of the generosity we have benefited from during this financial year – the next section does not give a complete picture, but hopefully provides a flavour of the support we enjoy.

e. Events and community fundraising

As ever, many of our fundraisers went to extreme lengths to raise money for the charity; their bravery, commitment and determination are humbling and we are so grateful to each and every one of them. Whilst we had a more difficult year in terms of Events fundraising overall, there were still many fantastic fundraising endeavours, including:

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THE PITUITARY FOUNDATION

TRUSTEES’ REPORT

FOR THE YEAR ENDED 30 JUNE 2025

We are so grateful to all the individuals who ran challenges for us in the year, which included the London Marathon (raising over £7,000) and the Brighton Marathon (raising a creditable £3,000 in the process).

Trusts & Foundations. We are also grateful to the many grant making Trusts and Foundations which supported our work during the year. These included:

Gifts in Wills: We are as always very grateful to people who have generously supported our work by leaving gifts in their wills. During the period we were very fortunate to receive donations from the following individuals.:

Donations: We are truly grateful for the generosity of the pituitary community during the year. The tough economic environment has seen levels of donations reduce over the last 18 months, but we continued to receive generous donations from many donors during the year. We were helped significantly by our first involvement in the Big Give campaign; our Christmas Big Give Campaign 2024 helped to raise an amazing £24,501.

As ever we were very appreciative of the support from the pharmaceutical industry . This included:

We work in line with good practice guidance in our partnerships with pharmaceutical companies. As reported elsewhere we now disclose our funding from pharmaceutical companies on our website and have a specific policy to cover our work with healthcare companies.

Earned income this year included a Summer and Christmas Raffle as well as items that we sell in our online shop. During the year we undertook a review of our shop merchandise and identified new products that proved to be popular with our community and delivered much needed income to help provide for our services.

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THE PITUITARY FOUNDATION

TRUSTEES’ REPORT FOR THE YEAR ENDED 30 JUNE 2025

f. Resources expended

The staff team, alongside the Finance Committee, works hard to keep costs down, seeking competitive quotes and adhering to our financial processes. Within our total costs figure this year we spent £21,000 on our Counselling service provided by Rareminds, £2,900 on a Cushing’s video and £4,600 on a Data Protection Audit.

g. Investment Policy and performance

We hold general and restricted funds in our main NatWest and RBS bank accounts. We have some modest sums with Monmouthshire Building Society, Julian Hodge Bank and Virgin Money.

We continue to use the excellent CAF Online deposits platform to secure competitive savings rates across a mixture of shorter and longer-term savings investments, which allows us to take advantage of competitive interest rates in an effective manner.

Our investments, which are ethically selected (in line with our Investment Policy) and managed by our investment advisers Evelyn Partners, have improved in value over the course of the year. Our total funds held with Evelyn partners are £103,878 and we have benefitted from an income of £2,693 from these investments during the year.

All of the charity’s funds are subject to regular review by our Finance Committee. The Trustees have a confident expectation that The Foundation will continue in operational existence for the foreseeable future and have, therefore, used the going concern basis in preparing the financial statements.

We have an Investment Policy, developed in line with Charity Commission guidelines and reviewed and approved by the Finance Committee and Trustees, to which we continue to adhere. In particular, the Policy:

h. Reserves policy

We plan to retain free operational reserves representing 9 months of our annual operating costs, equating to around £415,000. The remaining free reserves, known as the Development Reserve, are available for investment in the charity’s infrastructure, resources and patient support.

Total restricted funds held at the year end were £117,606. Free reserves are calculated as unrestricted reserves less designated funds and fixed assets. The Foundation’s free reserves at 30 June 2025 decreased to £585,544 (2024: £646,560). This represented 141% of our free operational reserves target.

As a result, our Development Reserve was £170,544 at the year end. As proposed by the CEO, the Trustees have agreed to planned expenditure of £46,000 from these reserves for the various areas of development outlined in the Plans For Future Periods section above.

The Reserves policy was reviewed in the financial year to ensure it remains appropriate to the Foundations needs and the wider economic landscape.

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THE PITUITARY FOUNDATION

TRUSTEES’ REPORT FOR THE YEAR ENDED 30 JUNE 2025

Structure, governance and management

a. Governing document

The Pituitary Foundation was established in 1994 and became a Company Limited by Guarantee and a Registered Charity in 1996. It is, therefore, governed by company law and the Charity Commission.

Its governing documents are its Memorandum and Articles of Association.

Membership is encouraged and is open to all who wish to support The Pituitary Foundation; however, the principal services provided are available to all who require them regardless of membership.

b. Recruitment and appointment of Trustees

At each General Meeting (GM), one third of the Trustees retire by rotation. Any member of The Foundation may nominate any other member for a vacant Trustee position. If there are more nominations than vacancies, members are balloted, and the result announced at the GM. Trustees may be co-opted onto the Board until the next GM at which time they must stand for re-election.

The diversity and skills required by the Board are a key consideration. Trustees recognise the value of ensuring that the composition of the Board is reflective of the community we serve and includes the necessary skills and knowledge to lead and develop The Foundation. Trustees undertook a skills audit in 2024 which helped inform the focus of recruitment during 2025.

c. Trustee induction and training

Trustees are inducted within three months of appointment. They are inducted online or at the Bristol Office. At induction, members of staff and representatives from the Trustees work with the new Trustee to explain the business, services, aims and objectives of The Foundation. At the time of induction, each Trustee is given a Trustee Induction Pack. Trustee training is undertaken on an ad hoc basis. At the time of writing we are planning Trustee training in February 2026. This is planned so as to ensure that new Trustees are properly supported in their roles and to provide for a whole Board development opportunity.

d. Trustee tenure and retirement

Trustees agreed a tenure policy during 2024-25 which brings The Foundation into line with Charity Commission guidance that Trustees can be reappointed up to a maximum of 9 years unless there are exceptional circumstances. The policy means that a number of Trustees retire between 2025-2026 and we are carefully managing this so as not to lose the essential skills and experience required to lead The Foundation. At the General Meeting in May 2025 we expressed our appreciation to four retiring Trustees:

We are immensely grateful to the generous commitment of our retiring Trustees who have dedicated many years to their roles.

e. Organisation

The Board of Trustees governs The Foundation and Trustees are also Directors of the Company. A limit of one third has been set on the number of Trustees who are employed in the health sector to ensure strong representation of patients and carers. During 2024-2025 we had two Trustees employed in the health sector and at 30 June 2025 this reduced to one following retirement.

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THE PITUITARY FOUNDATION

TRUSTEES’ REPORT FOR THE YEAR ENDED 30 JUNE 2025

The Board of Trustees holds meetings a minimum of three times per year. The Trustees have appointed four Officers of the board. These comprise the Chair, the Vice Chair, the Honorary Secretary and the Honorary Treasurer.

The Trustees debate and make decisions based on recommendations brought to Trustee meetings and informed by the wider staff, relevant Committees and relevant information.

The Foundation is a member of:

The charity is registered with the Fundraising Regulator and the Foundation's Head of Fundraising is a member of The Institute of Fundraising.

The Foundation has three sub-committees, which report to the Trustees through their respective Chairs. Each sub-committee has Terms of Reference:

The Finance Committee

The Finance Committee reports to the Board and assists the Finance and Operations Manager and CEO in the review of budgets and the management of the finances. The Finance Committee is chaired by the Trustee who has the role of Honorary Treasurer, and its members include the Chair and ViceChair of Trustees. The CEO and relevant staff members also attend. This Committee reviews the financial position on a quarterly basis and reports to the Board in proposing the budget, reporting on performance, and making other recommendations where there is a financial implication.

The Lived Experience Committee

The Lived Experience Committee was established in June 2024 with the aim of informing and advising on our work, ensuring that the voice of lived experience is at the heart of The Foundation. The committee is chaired by a Trustee, with a report to the Board of Trustees as a standing item. During the year the Committee met three times, including in person, and has established a sub-group to focus on our health information. Also, two of the members help review Pituitary Life magazine, three times a year.

During the year, and given the newness of the Lived Experience Committee, we have considered ways of working which add value to our work and leverage its lived experience expertise. We want to ensure that there is a meaningful collaboration with our Medical Committee and will be building this into the refresh of the terms of reference.

We have also collected ‘community insights’ for sharing and review twice a year. These insights draw on the feedback and data we collect from our work identifying the top issues and themes. From these, we will discuss and agree any actions so that we are directly responding to what is most important for our community.

Members of the Lived Experience Committee as at 30 June 2025:

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THE PITUITARY FOUNDATION

TRUSTEES’ REPORT FOR THE YEAR ENDED 30 JUNE 2025

We were extremely saddened by the passing of Steve Harris in August 2025. Steve was a long-standing and committed volunteer and member of our community. We would like to acknowledge all his contributions over many years and will always remember him with deep affection.

The Medical Committee

Our volunteer Medical Committee is made up of endocrine and related medical professionals who provide invaluable expertise answering more complex patient queries, speaking at our events (online and in person), writing articles for our magazine Pituitary Life, and reviewing and providing content for our website and booklets.

As described above in relation to the Lived Experience Committee, we are now sharing ‘community insights’ with the Medical Committee twice a year. This provides the opportunity for medical insight and experience to input into the areas of work that we want to prioritise for advocacy and awareness raising.

Also during the year, the chairs of the Medical Committee and the Lived Experience Committee discussed ways of working to ensure that there is a strong connection across the two committees. It was agreed that going forward the Chair of the Lived Experience Committee is invited to the Medical Committee meetings.

Members of the Medical Committee as at 30 June 2025:

Role Name
Consultant Endocrinologist Professor Stephanie Baldeweg (Chair)
Consultant Endocrinologist Dr Rob Murray (deputyChair)
Endocrine nurse Darshna Patel
Endocrine nurse Aldons Chua
Paediatric Endocrinologist Dr Indi Bannerjee
Consultant Endocrinologist Dr Niki Karavitaki
Endocrine nurse(Advanced Nurse Practitioner) Sherwin Criseno
Consultant Endocrinologist Professor John Wass
Independent Chartered Psychologist Dr Sue Jackson
Consultant Endocrinologist Dr Jon Pinkney
Consultant Endocrinologist Dr Anna Crown
Hon Cons Nurse in Endocrinology Dr Sofia Llahana
Pituitarysurgeryspecialist nurse Fiona Cains
PituitarySurgeon Mr Omar Pathmanaban
Endocrine nurse Alison Milne
Consultant Pharmacist Dr PhilipNewland-Jones
Advanced Clinical Pharmacist Dr Matthew Heppel
Endocrinologist Professor Miles Levy
Consultant Neurosurgeon Eleni Maratos
GP Jennifer Collins
Specialist Neuro Orthoptist & Stroke Lead Samantha McAuley
Endocrinologist Antonia Brooke

We’ve agreed that going forward all Medical Trustees of The Foundation will automatically be members of the Medical Committee. This is to ensure that there is a strong connection between the Board and the Medical Committee.

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THE PITUITARY FOUNDATION

TRUSTEES’ REPORT FOR THE YEAR ENDED 30 JUNE 2025

The Foundation understands the members of our Medical Committee are professionals with demanding occupations and we are indebted to them for all of their time and effort working with staff and other volunteers to provide support to the pituitary community.

f. Volunteers

Volunteers are at the heart of The Foundation. We could not do what we do without the involvement, commitment, and generosity of volunteers. Our volunteer programme has dedicated staff support and we are committed to providing a good quality and rewarding experience of volunteering with us.

During the year over 80 volunteers supported our work. Volunteers gave their time as Trustees, supporting in the office, reviewing our health information, running the information helpline, providing lived experience support, leading support groups (online and in person in local areas), and as ambassadors and fundraisers.

In 2025 we refreshed the volunteer handbooks and guidance and are now confident we're providing volunteers with the best possible resources. We were delighted to welcome ten new volunteers. Two of these volunteers are supporting our Information and Support helpline and enabled the availability of the service to be increased. Towards the end of the year, we delivered online training for all our volunteers, covering safeguarding and data protection essentials.

Volunteers deliver vital roles, generously sharing their lived experience and knowledge of the patient pathway to support people with recent diagnoses, their friends and families, as well as longer term pituitary patients. The Trustees would like to extend heartfelt thanks to each person for their time and kindness being involved in our work.

f. Staff Employed

As at 30 June 2025 The Foundation employed eleven members of staff (7 FTE):

Chief Executive Officer Emma Cooper (from July 2024)
Head of Support Services Pat McBride
Head of Fundraising Jay Sheppard
Finance and Operations Manager Gabrielle Welland
IT and Systems Manager Martin Cookson
Endocrine Specialist Nurse Darshna Patel
Endocrine Specialist Nurse Aldons Chua
Volunteer and Support Services Officer Nesta Jones (from July 2024)
Communications Officer Amy Shingler (from January 2025)
Administrator Isabella Jackson (from October 2024)
Project Officer Amber Noushad (from June 2025)

During the year, three colleagues left their employment with The Foundation - Stephanie Gauvin, Lottie Storey, and Vanessa Quinn. We are hugely grateful for the contribution each made to our work. Each directly and indirectly supported our community and will be missed by our team and community.

The Charity's staff has a clear line management reporting structure to the CEO, who reports to the Board of Trustees through the Chair. The CEO and the Chairman of the Trustees meet online or in person on a regular basis.

There are clear reporting lines for all staff, and regular 1-1’s supporting an annual appraisal process. Staff wellbeing is central to the culture of our work and staff benefits have been reviewed to include access to an EAP programme, 30 days annual leave, flexible working and 5% pension contributions.

Salaries are reviewed annually as well as benchmarked periodically against similar roles either in the Bristol area, or in the NHS for specialised nurse roles. Recommendations for pay increases, or new

Page 20

THE PITUITARY FOUNDATION

TRUSTEES’ REPORT

FOR THE YEAR ENDED 30 JUNE 2025

salaries where a role is being advertised, are made by the CEO for review by the Finance Committee and remitted to the Trustee Board for approval.

The team are supremely dedicated and bring a huge amount of energy and commitment to their work, supporting and seeking the best outcomes for all people living with pituitary conditions and their support networks. The Trustees would like to thank them for their ongoing dedication and hard work.

g. Risk management

The Foundation maintains a current and comprehensive Risk Register. Management of this register is held jointly by the Chair of the Trustees and the CEO. The Register is reviewed on a regular basis and is reported to the Board of Trustees, including established controls and actions to mitigate relevant identified risks.

TRUSTEES' RESPONSIBILITY STATEMENT

The Trustees (who are also the directors of The Pituitary Foundation for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the Trustees to prepare financial statements for each financial year which 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 those financial statements, the Trustees are required to

The Trustees are responsible for keeping 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 financial statements comply with the Companies Act 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.

Trustees' report, incorporating a strategic report, approved by order of the board of Trustees, as the company directors, on .............................................. and signed on the board's behalf by: 13/01/2026 T or .................................................................

Mr T Sumpster - Trustee

Page 21

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PITUITARY FOUNDATION

Independent examiner's report to the trustees of The Pituitary Foundation (‘the Company’) | report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2025. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 (‘the 2011 Act). In carrying out my examination | have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Independent examiner's statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. | can confirm that | am qualified to undertake the examination because | am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

Zi the accounts do not accord with those records; or 3; the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  1. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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

CiMoelyyiA ~ WALI?

C Moelwyn-Williams, BSc FCA

Date: Jar, JCuwowy, 2026

Page 22

THE PITUITARY FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2025

Notes
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Voluntary income
2
264,183
Charitable activities
General
5
65,300
Restricted
-
Activities for generating funds
3
29,901
Investment income
4
22,520
Total
381,904
EXPENDITURE ON
Costs of Generating Voluntary Income
6
120,831
Charitable activities
General
7
343,562
Total
464,393
Net gains on investments
2,693
NET INCOME/(EXPENDITURE)
(79,796)
Transfers between funds
21
20,408
Net movement in funds
(59,388)
RECONCILIATION OF FUNDS
Total funds brought forward
648,501
TOTAL FUNDS CARRIED FORWARD
589,113		 Restricted
funds
£
9,447
-
56,379
-
-
65,826
4,200
54,185
58,385
-
7,441
(20,408)
(12,967)
130,573
117,606		 2025
Total
funds
£
273,630
65,300
56,379
29,901
22,520
447,730
125,031
397,747
522,778
2,693
(72,355)
-
(72,355)
779,074
706,719		 2024
Total
funds
£
596,704
38,760
92,274
39,523
12,304
779,565
120,331
366,401
486,732
5,943
298,776
-
298,776
480,298
779,074

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

Page 23

THE PITUITARY FOUNDATION (REGISTERED NUMBER: 03253584)

STATEMENT OF FINANCIAL POSITION 30 JUNE 2025

FIXED ASSETS
Notes
Tangible assets
14
Investments
15
CURRENT ASSETS
Debtors
16
Investments
17
Cash at bank
CREDITORS
Amounts falling due within one year
18
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
Unrestricted funds
21
Restricted funds
TOTAL FUNDS		 2025
£
3,569
103,878
107,447
9,578
290,500
325,847
625,925
(26,653)
599,272
706,719
706,719
589,113
117,606
706,719		 2024
£
1,941
99,344
101,285
5,458
119,000
571,423
695,881
(18,092)
677,789
779,074
779,074
648,501
130,573
779,074

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

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continued...

THE PITUITARY FOUNDATION (REGISTERED NUMBER: 03253584)

STATEMENT OF FINANCIAL POSITION - continued

30 JUNE 2025

............................................. Mr T Sumpster - Trustee PA ............................................. Mr P Rouse - Trustee 17/12/2025

The notes form part of these financial statements

Page 25

THE PITUITARY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 5 years straight line

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

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

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Page 26

continued...

THE PITUITARY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Investments

Assets held for investment purposes are valued at market value at the balance sheet date. Net gains and losses arising on revaluation and disposals during the year are included in the statement of financial activities.

Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Financial instruments

The charity only has 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.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Operating Leases

Rentals under operating leases are charged to the statement of financial activities on a straight line basis over the lease term.

2. VOLUNTARY INCOME

Donations
Gift aid
Legacies
Membership
Sundry income		 nrestricted
Restricted
funds
funds
£
£
161,909
9,447
26,622
-
42,125
-
33,141
-
386
-
264,183
9,447		 2025
2024
Total
Total
funds
funds
£
£
171,356
227,224
26,622
35,538
42,125
298,095
33,141
31,699
386
4,148
273,630
596,704

Included within unrestricted voluntary income is £nil (2024: £nil) of income raised by the local support groups.

Voluntary income in the prior year included £596,222 of unrestricted income and £482 of restricted income.

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continued...

THE PITUITARY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

3. ACTIVITIES FOR GENERATING FUNDS

U nrestricted
Restricted
funds
funds
£
£
Lottery & raffle proceeds
14,215
-
Merchandise proceeds
15,686
-
29,901
-		 2025
2024
Total
Total
funds
funds
£
£
14,215
24,537
15,686
14,986
29,901
39,523

Activities for generating funds in the prior year included £39,523 of unrestricted income and no restricted income.

4. INVESTMENT INCOME

U nrestricted
Restricted
funds
funds
£
£
Bank interest receivable
20,643
-
Dividend Income
1,483
-
Investment Income
394
-
22,520
-		 2025
2024
Total
Total
funds
funds
£
£
20,643
9,927
1,483
1,994
394
383
22,520
12,304

Investment income in the prior year included £12,304 of unrestricted income and no restricted income.

5. INCOME FROM CHARITABLE ACTIVITIES

Grants
Publications		 General
£
65,150
150
65,300		 Restricted
£
56,379
-
56,379		 2025
Total
activities
2024
Total
activities
£
121,529
£
131,034
150
-
121,679
131,034

Income from charitable activities in the prior year included £38,760 of unrestricted income and £92,274 of restricted income.

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continued...

THE PITUITARY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

6. COSTS OF GENERATING VOLUNTARY INCOME

Costs of generating voluntary income

Unrestricted
Restricted
funds
funds
£
£
Staff costs
88,707
-
Event costs
13,169
1,200
Online giving fees
3,778
-
Printing, postage & promotion costs
4,859
3,000
Other staff costs
5,600
-
Local Support Group costs
1,398
-
117,511
4,200		 2025
2024
Total
Total
funds
funds
£
£
88,707
86,878
14,369
7,215
3,778
5,273
7,859
6,545
5,600
5,440
1,398
27
121,711
111,378

Costs of generating voluntary income in the prior year included £110,319 of unrestricted costs and £1,059 restricted costs.

Fundraising trading: costs of goods sold and other costs

2025 2024
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
Purchases 3,320 - 3,320 8,953

Costs of goods sold and other costs in the prior year included £8,953 of unrestricted costs and no restricted costs.


restricted costs.
Aggregate amounts
CHARITABLE ACTIVITIES COSTS
General		 120,831 4,200
125,031
Direct
Support
Costs (see
costs (see
note 8)
note 9)
£
£
147,791
249,956		 120,331
Totals
£
397,747

7. CHARITABLE ACTIVITIES COSTS

Charitable activities costs in the prior year were £366,401, made up of £334,989 of unrestricted costs and £31,412 of restricted costs.

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continued...

THE PITUITARY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS-continued
FOR THE YEAR ENDED 30 JUNE 2025
8.
DIRECT COSTS OF CHARITABLE ACTIVITIES
2025
£
Staff costs
124,953
Staff training
2,238
Publication costs
19,947
Depreciation
653
147,791
9.
SUPPORT COSTS
Governance
General
Other
£
212,731
costs
£
37,225
Support costs, included in the above, are as follows:
Other
2025
General
£
Wages
81,438
Social security
5,868
Pensions
4,070
Rent payable under operating leases
23,410
Insurance
Telephone, photocopier, postage & office
supplies
5,944
13,812
Sundries
708
Bank charges
3,662
Website & online
2,375
Other staff costs
4,287
Software licences & expenses
22,437
Equipment
150
Professional fees
28,544
Finance & HR consultancy
9,685
Accommodation, travel & subsistence
3,210
Membership subscriptions
2,709
PR & Branding
422
212,731		 2024
£
114,964
11,815
12,695
485
139,959
Totals
£
249,956
2024
Total
activities
£
77,559
5,710
3,821
21,866
4,578
13,882
410
3,729
9,655
12,007
20,604
13
10,473
3,173
3,896
2,579
422
194,377

Page 30

continued...

THE PITUITARY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

9. SUPPORT COSTS - continued Governance costs

SUPPORT COSTS - continued
Governance costs
Wages
Social security
Pensions
Independent Examination fees
Other governance costs
Trustee training		 2025
General
£
24,596
1,949
1,228
2,900
6,361
191
37,225		 2024
Total
activities
£
23,230
2,084
1,162
2,850
1,419
1,320
32,065

10. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2025 2024
£ £
Depreciation - owned assets 653 485

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 June 2025 nor for the year ended 30 June 2024.

Trustees' expenses

During the year two Trustees received reimbursement of expenses amounting to £70 (2024: £145).

12. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Core activities		 2025
£
298,487
20,617
13,705
332,809
2025
11		 2024
£
281,167
21,013
13,228
315,408
2024
10

No employees received emoluments in excess of £60,000.

The average number of full time equivalent employees during the year was 8.

Page 31

continued...

THE PITUITARY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

12. STAFF COSTS - continued

The key management personnel of the charity comprise the Chief Executive Officer, the Head of Patient and Family Services and the Head of Fundraising. The total employee benefits of the key management personnel of the charity were £103,107 (2024: £160,534).

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Voluntary income
596,222
Charitable activities
General
38,760
Restricted
-
Activities for generating funds
39,523
Investment income
12,304
Total
686,809
EXPENDITURE ON
Costs of Generating Voluntary Income
119,272
Charitable activities
General
334,989
Total
454,261
Net gains on investments
5,943
NET INCOME
238,491
RECONCILIATION OF FUNDS
Total funds brought forward
410,010
TOTAL FUNDS CARRIED FORWARD
648,501		 Restricted
funds
£
482
-
92,274
-
-
92,756
1,059
31,412
32,471
-
60,285
70,288
130,573		 Total
funds
£
596,704
38,760
92,274
39,523
12,304
779,565
120,331
366,401
486,732
5,943
298,776
480,298
779,074

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continued...

THE PITUITARY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

14. TANGIBLE FIXED ASSETS

COST
At 1 July 2024
Additions
At 30 June 2025
DEPRECIATION
At 1 July 2024
Charge for year
At 30 June 2025
NET BOOK VALUE
At 30 June 2025
At 30 June 2024
15.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 July 2024
Additions
Disposals
Revaluations
At 30 June 2025
NET BOOK VALUE
At 30 June 2025
At 30 June 2024		 Fixtures
and
fittings
£
47,309
-
47,309
47,309
-
47,309
-
-
i
Unlisted
nvestments
£
98,430
16,113
(16,344)
2,693
100,892
100,892
98,430		 Computer
equipment
£
3,948
2,281
6,229
2,007
653
2,660
3,569
1,941
Cash and
settlements
pending
£
914
18,819
(16,747)
-
2,986
2,986
914		 Totals
£
51,257
2,281
53,538
49,316
653
49,969
3,569
1,941
Totals
£
99,344
34,932
(33,091)
2,693
103,878
103,878
99,344

49% of the investment value is held within the UK. The remainder is held in overseas investments. Cost or valuation at 30 June 2025 is represented by:

Valuation in 2025
Cost		 Cash and
Unlisted
settlements
investments
pending
Totals
£
£
£
2,693
-
2,693
98,199
2,986
101,185
100,892
2,986
103,878

Page 33

continued...

THE PITUITARY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

16.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Prepayments and accrued income
17.
CURRENT ASSET INVESTMENTS
Unlisted investments
18.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income		 2025
£
9,578
2025
£
290,500
2025
£
13,566
6,677
3,097
3,313
26,653		 2024
£
5,458
2024
£
119,000
2024
£
6,390
6,889
1,666
3,147
18,092

Deferred income in the prior period included income of £nil received in relation to the current financial year ended 30 June 2025.

19. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 2024
£ £
Within one year 25,687 23,975
Between one and five years 20,334 46,375
46,021 70,350
20. ANALYSIS OF NET ASSETS BETWEEN FUNDS
2025 2024
Unrestricted Restricted Total Total
fund funds funds funds
£ £ £ £
Fixed assets 3,569 - 3,569 1,941
Investments 103,878 - 103,878 99,344
Current assets 506,088 119,837 625,925 695,881
Current liabilities (24,422) (2,231) (26,653) (18,092)
589,113 117,606 706,719 779,074

Page 34

continued...

THE PITUITARY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

21.
MOVEMENT IN FUNDS
Unrestricted funds
At 1.7.24
£
General fund
648,501
Restricted funds
Endocrine Nurse helpline
1,853
Publications
31,441
Volunteer Development
-
Society for Endocrinology
615
Legacy - Solent & IOW Support Group
7,950
Cushing's Disease Day
6,876
GP Professional Development
11,180
NI Support Group
152
Paediatric Work
34,876
Psychological Support
31,630
Cushings Information Content
4,000
Pituitary Life
-
130,573
TOTAL FUNDS
779,074
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
381,904
Restricted funds
Endocrine Nurse helpline
9,447
Publications
-
Volunteer Development
20,000
Society for Endocrinology
-
Cushing's Disease Day
1,700
NI Support Group
1,000
Psychological Support
-
Cushings Information Content
-
Pituitary Life
33,039
BackSOM Study
640
65,826
TOTAL FUNDS
447,730		 Net
movement
in funds
£
(79,796)
3,157
(1,254)
19,787
(615)
-
200
-
1,000
-
(21,450)
(3,000)
9,616
7,441
(72,355)
Resources
expended
£
(464,393 )
(6,290)
(1,254)
(213)
(615)
(1,500)
-
(21,450)
(3,000)
(23,423)
(640)
(58,385)
(522,778 )		 Transfers
between
funds
£
20,408
-
-
-
-
-
(7,076)
(11,180)
(1,152)
-
-
(1,000)
-
(20,408)
-
Gains and
losses
£
2,693
-
-
-
-
-
-
-
-
-
-
-
2,693		 At
30.6.25
£
589,113
5,010
30,187
19,787
-
7,950
-
-
-
34,876
10,180
-
9,616
117,606
706,719
Movement
in funds
£
(79,796)
3,157
(1,254)
19,787
(615)
200
1,000
(21,450)
(3,000)
9,616
-
7,441
(72,355)

Page 35

continued...

THE PITUITARY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

21. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
At 1.7.23
£
General fund
410,010
Restricted funds
Endocrine Nurse helpline
16,291
Publications
22,487
Society for Endocrinology
-
2nd Endocrine Nurse Helpline
3,714
Legacy - Solent & IOW Support Group
7,950
Paediatric Endocrine Nurse
19,846
Cushing's Disease Day
-
GP Professional Development
-
NI Support Group
-
Paediatric Work
-
Psychological Support
-
Cushings Information Content
-
70,288
TOTAL FUNDS
480,298
Comparative net movement in funds, included in the above are as
Incoming
resources
£
Unrestricted funds
General fund
686,809
Restricted funds
Endocrine Nurse helpline
-
Publications
9,899
Society for Endocrinology
1,000
2nd Endocrine Nurse Helpline
-
Cushing's Disease Day
7,000
GP Professional Development
19,680
NI Support Group
152
Paediatric Work
15,030
Psychological Support
35,995
Cushings Information Content
4,000
92,756
TOTAL FUNDS
779,565		 Net
movement
in funds
£
238,491
(14,438)
8,954
615
(3,714)
-
-
6,876
11,180
152
15,030
31,630
4,000
60,285
298,776
follows:
Resources
expended
£
(454,261 )
(14,438)
(945)
(385)
(3,714)
(124)
(8,500)
-
-
(4,365)
-
(32,471)
(486,732 )		 Transfers
between
funds
£
-
-
-
-
-
-
(19,846)
-
-
-
19,846
-
-
-
-
Gains and
losses
£
5,943
-
-
-
-
-
-
-
-
-
-
-
5,943		 At
30.6.24
£
648,501
1,853
31,441
615
-
7,950
-
6,876
11,180
152
34,876
31,630
4,000
130,573
779,074
Movement
in funds
£
238,491
(14,438)
8,954
615
(3,714)
6,876
11,180
152
15,030
31,630
4,000
60,285
298,776

Comparative net movement in funds, included in the above are as follows:

Page 36

continued...

THE PITUITARY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

21. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Endocrine Nurse helpline
Publications
Volunteer Development
2nd Endocrine Nurse Helpline
Legacy - Solent & IOW Support Group
Paediatric Endocrine Nurse
Cushing's Disease Day
GP Professional Development
NI Support Group
Paediatric Work
Psychological Support
Cushings Information Content
Pituitary Life
TOTAL FUNDS		 Net
movement
Transfers
between
At
At 1.7.23
£
in funds
£
funds
£
30.6.25
£
410,010
158,695
20,408
589,113
16,291
(11,281)
-
5,010
22,487
7,700
-
30,187
-
19,787
-
19,787
3,714
(3,714)
-
-
7,950
-
-
7,950
19,846
-
(19,846)
-
-
7,076
(7,076)
-
-
11,180
(11,180)
-
-
1,152
(1,152)
-
-
15,030
19,846
34,876
-
10,180
-
10,180
-
1,000
(1,000)
-
-
9,616
-
9,616
70,288
67,726
(20,408)
117,606
480,298
226,421
-
706,719

Page 37

continued...

THE PITUITARY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

21. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
Incoming
resources
£
Resources
expended
£
General fund
1,068,713
(918,654 )
Restricted funds
Endocrine Nurse helpline
9,447
(20,728)
Publications
9,899
(2,199)
Volunteer Development
20,000
(213)
Society for Endocrinology
1,000
(1,000)
2nd Endocrine Nurse Helpline
-
(3,714)
Cushing's Disease Day
8,700
(1,624)
GP Professional Development
19,680
(8,500)
NI Support Group
1,152
-
Paediatric Work
15,030
-
Psychological Support
35,995
(25,815)
Cushings Information Content
4,000
(3,000)
Pituitary Life
33,039
(23,423)
BackSOM Study
640
(640)
158,582
(90,856)
TOTAL FUNDS
1,227,295
(1,009,510 )
Purpose of funds		 Gains and
losses
£
8,636
-
-
-
-
-
-
-
-
-
-
-
-
-
-
8,636		 Movement
in funds
£
158,695
(11,281)
7,700
19,787
-
(3,714)
7,076
11,180
1,152
15,030
10,180
1,000
9,616
-
67,726
226,421

Unrestricted revenue funds:-

These funds are held for meeting the objectives of the charity, and to provide reserves for future activities, and, subject to charity legislation, are free from all restrictions on their use.

Restricted funds:-

Endocrine Nurse Helpline

A specialist endocrine nurse helpline service for pituitary patients, carers, family and the wider pituitary community.

Publications

The charity provides various booklets, factsheets and other information publications.

Volunteer Development

Funding provided for an in-person volunteer training event to be held in June 2026.

Society for Endocrinology

Funds received to cover expenses related to attendance at the BES Conference in November 2024.

Legacy income received to specifically support the Solent & IOW support group

Page 38

continued...

THE PITUITARY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

21. MOVEMENT IN FUNDS - continued

Cushing's Disease Day

Funding provided for delivery of a support event in London for Cushing's patients.

GP Professional Development

Funding provided for the provision of an outsourced training event for all UK GP's focused on pituitary illnesses.

NI Support Group

Funds given for use by the Northern Ireland Support Group in providing the Group's services to pituitary patients and their families and carers in Northern Ireland.

Paediatric Work

Funds provided for the charity's work in supporting children and young people, and their families and carers.

Psychological Support

Funds for the provision of counselling and other psychological support services, provided in conjunction with Rare Minds, a charity with expertise in providing psychological support for patients suffering from rare diseases.

Cushings Information Content

Funds received for the creation of informative media regarding Cushing's Disease.

Pituitary Life

Funding provided for the costs of the Pituitary Life magazine produced three times a year by the charity.

BackSOM Study

Funds provided for assistance given in identifying participants for a research study.

22. EMPLOYEE BENEFIT OBLIGATIONS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £13,705 (2024: £13,228). Contributions totalling £2,155 (2024: £1,968) were payable to the fund at the balance sheet date and are included in creditors.

23. RELATED PARTY DISCLOSURES

There were no identified related parties other than the Trustees. Details of any payments to Trustees are detailed in note 11. The total amount of donations received without condition from the Trustees during the year was £225 (2024: £290).

Page 39

continued...

THE PITUITARY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025

24. ULTIMATE CONTROLLING PARTY

The Pituitary Foundation is a company limited by guarantee governed in accordance with its Memorandum and Articles of Association.

The charitable company is wholly controlled by its members, who are also trustees of the charity.

Page 40