
## **Annual report and accounts for the year ended 30 June 2023** 




## **Contents** 


**----- Start of picture text -----**<br>
[About us ] 3<br>[A message from the Chair and Chief Executive ] 4<br>[2022-2023 highlights: Fast Forwarding progress ] 6<br>[Report of the trustees] 8<br>[Objectives and activities ] 8<br>[Our achievements ] 8<br>[Delivering for our community ] 9<br>[Impact ] 11<br>[Ambition: Our future plans to Fast Forward progress ] 16<br>[Governance, structure and management ] 18<br>[Financial review ] 23<br>[Statement of Trustees’ responsibilities in respect of the  ] 25<br>     Trustees’ annual report and the financial statements<br>[Independent auditor’s report to the members of Target Ovarian Cancer  ] 26<br>[Financial statements ] 30<br>[Notes to the financial statements ] 33<br>[Reference and administrative details ] 46<br>[Acknowledgements ] 47<br>**----- End of picture text -----**<br>



## **About us** 

At Target Ovarian Cancer, we target what’s important to stop ovarian cancer devastating lives. We’re the only ovarian cancer charity working across all four nations of the UK. We work with everyone affected by ovarian cancer and health professionals to ensure we target the areas that matter most for them. 

We stand together as a powerful community for everyone facing ovarian cancer across the UK, sharing stories and raising voices, to make sure that ovarian cancer becomes a health priority. 

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## **A message from the Chair and Chief Executive** 

_Faster, further, and fairer_ . While important progress has been made, ovarian cancer is still being overlooked and it is apparent that there needs to be a sharper focus on the disease. We’re here to drive that forward. 

**It is shocking that one in seven women continue to die within the first two months of an ovarian cancer diagnosis because their diagnosis comes too late. Every day, we remind ourselves of this devastating statistic. This is why we launched our urgent appeal, Fast Forward, to raise £1 million so that together we can dramatically accelerate progress, resulting in more lives saved.** 

Fast Forwarding diagnosis is key to change. Across major cities in the UK our adverts on billboards, in newspapers and magazines were seen 168 million times, and saved lives. We are deeply grateful to our generous media partners, including City Outdoor Media who donated the space for free. Alongside this, enabled by major grant support from the Peter Sowerby Foundation, we stepped in to intervene in the concerning level of variation across regions when it comes to diagnosis. We worked with NHS partners to develop a suite of interventions that have proven successful in identifying cases of ovarian cancer, which otherwise would not have been found. We want to expand this work so that every healthcare professional in the UK recognises ovarian cancer, and completes our free online training modules and accesses our content. 

Despite the challenging environment we’re operating in, we have adapted to ensure that the very latest research is funded, support is widely available and that barriers to early diagnosis are broken down. This determination was reflected in our 2021-23 business plan, _Ovarian Cancer: A Blueprint for Change_ , which has led to a landmark year of delivering for our community and impact. 

Funding pioneering research can help everyone affected by ovarian cancer live better lives today – and have hope for the future. We look forward to the findings from our latest grant awarded to Professor Sadaf Ghaem-Maghami at Imperial College London, whose three-year project will explore the use of immunotherapy as a potential new treatment for high grade serous ovarian cancer. 

Working with leading external specialists in the field, we have targeted everything we know that could change the course of this disease. It has enabled us to directly impact the lives of those living with ovarian cancer now. 

To evidence how women are being failed and to provide expert insight into what needs to change and how it can happen, we launched the latest findings of our groundbreaking state-of-the-nation study, _Pathfinder 2022:_ 

In line with _Ovarian Cancer: A Blueprint for Change_ , we have also substantially expanded our services so that the support, which is missing for too many, is available. Most notably, a new psychological support service My Next Steps has been piloted, our unique nurse-led support line has been expanded, and our online community of peer-to-peer support has grown. 

Despite the ever-changing economic climate, we have been grateful for the legacy bequests, gifts in kind and generous donations from our supporters and donors, and of course the diligent team effort from our committed staff. 

These are unprecedented times, but ovarian cancer won’t wait and our ambition remains. Now is the time to Fast Forward progress: in diagnosis, in treatment, and in support. Our 2023-2026 business plan, _Ovarian Cancer: Fast Forward_ , builds on the momentum of our strong growth and impact, and harnesses new digital opportunities to dramatically improve the future for everyone impacted by ovarian cancer. 

We’ve achieved so much, but there’s so much more to do. Together, with your help, we’re confident that we can Fast Forward ovarian cancer diagnosis, treatment and support. 



**Emma Kane** Chair 


**Annwen Jones OBE** Chief Executive 

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## **2022-2023 highlights: Fast Forwarding progress** 

**We awarded funding to a 3 year** 


**groundbreaking research programme at Imperial College London exploring immunotherapy as a treatment option for high grade serous ovarian cancer.** 

**We received over £2.7m** 

**in donations from our generous supporters, and an incredible further £1.3m in donated advertising and media space.** 

**Our support services overall saw an increase of 55%** 

**and were used over 16,000 times. This included over 1,300 calls to our support line nurses, and 600 more women joining our online support groups.** 

**There were** 

**635 million opportunities to see our symptoms awareness work in the media – including in interviews, newspapers, magazines and on billboards.** 

**Over 4,000** 

**GPs and healthcare professionals were trained through our national education programme, increasing knowledge and recognition of the disease.** 

**We launched our stateof-the-nation report Pathfinder 2022 providing insights and recommendations to UK governments.** 


## **146,000** 

**people have been supported by our online information and support guides on our website, nearly 20,000 more than last year.** 

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## **Report of the trustees** 

## **Objectives and activities** 

**We’re targeting what’s important to beat ovarian cancer and stop this devastating disease. We’re working towards a world where everyone diagnosed with ovarian cancer survives. We are Target Ovarian Cancer and we work to Fast Forward diagnosis, treatment and support.** 

## **Our achievements** 

**Target Ovarian Cancer’s objectives for 2022-23** 

**Develop a new support service and continue to expand our nurse-led support line to reach more people.** 

**Continue our work to end the postcode lottery by expanding the use of our innovative interventions to improve early diagnosis, and providing an online toolkit and resources.** 

**Publish Pathfinder 2022 and use it to campaign for awareness and investment.** 

**Secure awareness campaigns across the UK.** 

**Grow clinical engagement with healthcare professionals by developing tools and hosting events.** 

**Amplify the voices of those affected by ovarian cancer by putting them at the forefront of our campaigning, policy and communications work.** 

**Launch a refreshed brand to attract and engage more people who need our support and want to support us.** 

**Find innovative ways to continue to maintain and grow our income.** 

**Increase understanding of ovarian cancer through accessible high-quality information.** 

**Represent those affected by ovarian cancer by being a leading voice among decision makers.** 




## **Delivering for our community** 

Led by the Target Ovarian Cancer Theory of Change, our ovarian cancer roadmap, we have been able to adapt to deliver innovative and successful projects that have driven growth across income, engagement and reach. 

**The external environment has been everchanging and consistently challenging. We set ourselves ambitious targets to grow income to ensure we can achieve the greatest impact possible for more of those affected by ovarian cancer. We listened to our community and to the frontine workers in the field and turned their concerns into our actions.** 

## **In 2022-2023:** 

- We gathered insight into the experiences of those living with ovarian cancer and healthcare professionals in our groundbreaking state-of-the-nation Pathfinder study. We have structured our new business plan to focus on the areas 

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## **Impact** 

that urgently need addressing in order to meet our community’s needs and profile ovarian cancer at the highest levels. 

- Our innovative and committed fundraising team delivered the highest income Target Ovarian Cancer has raised in its history. We launched our Fast Forward appeal to accelerate progress and stop one in seven women dying from ovarian cancer within two months of diagnosis. We also launched Target 41 - a new virtual fundraising event - to make support more widely accessible. With thanks to individual donors, fundraisers, companies, community groups, major donors, trusts and foundations, and those who kindly left a bequest in their will, we were able to grow the services we offer to our community. 

- We have expanded our nurse-led services to address some of the support that is missing. Alongside the support line which offers practical information and a listening ear from our specialist nurses to anyone affected by ovarian cancer, we have piloted a new psychological support programme, My Next Steps, for those who have finished treatment. It is a seven-week group programme, facilitated by our specialist nurses, providing a confidential and safe space, with sessions run by experts. The pilot evaluation has shown the significant difference this programme makes to a participant’s wellbeing. With further funding, we aim to roll this out nationally and make it more widely available. 

- Concerningly, 46 per cent of GPs still believe ovarian cancer presents only in the late stage of the disease. We’re committed to engaging all healthcare professionals in our work to increase knowledge of ovarian cancer and support them to reduce regional variation through the provision of intervention tools. 

By delivering Breaking Down Barriers to Early Diagnosis, funded by the Peter Sowerby Foundation, we engaged healthcare professionals across England and established an Early Diagnosis Network, whereby committed healthcare professionals can come together, learn and share. In addition to this, our GP Network continues to see large numbers of GPs completing modules and downloading educational resources. With investment over the next business plan, we want to see the Early Diagnosis Network continue to grow. 

As four in five women do not know bloating is a key symptom of ovarian cancer, we asked our community to write to their governments in Wales and Scotland to demand they fund a national awareness campaign highlighting the symptoms of ovarian cancer. 1,200 campaigners completed this call to action. 

Ovarian cancer, its stages and treatment options can be difficult to understand and so. To reach more people with more personalised information in an easyto-digest way, we developed two digital information tools to explain the stages of ovarian cancer and PARP inhibitors. Feedback so far has been incredibly positive, and we are looking forward to developing more information tools for our community. We have also established a regular programme of digital events, which are available to join live or through an ‘ondemand’ service so that our community never miss out on webinars and expert talks and can watch them back in their own time. 


**Everything we do is to improve the lives of those living with ovarian cancer. The work we conduct every day, from fundraising and storytelling, to providing evidence to health select committees and to MPs, is all to positively impact those at the heart of our charity. We have impacted our community by remaining focused on Fast Forwarding diagnosis, support and research.** 

## **Fast Forwarding support:** 

- **From our dedicated nurse-led support line, peer-to-peer online ovarian cancer communities, digital events programme to our expert health, support and advice information, we are here for everyone affected by ovarian cancer, providing the support they need.** Overall, we know there 


is a huge gap in the amount of information available to individuals, from understanding their stage to knowing how to move forward after a diagnosis and treatment – and we are here to address it. 

- **Developing the Your Wellbeing section on our website,** providing an in-depth and insightful look at ovarian cancer to meet the needs of our community. 

- **Creating an innovative and educational tool explaining the stages of ovarian cancer** which has helped women understand their cancer better. 

- **Making our information more widely accessible.** As a result, 146,000 people have accessed our information, treatment and support information on the website, nearly 20,000 more than last year. 

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## **Fast Forwarding diagnosis:** 

- **Breaking down barriers to diagnosis and empowering healthcare professionals despite the current NHS challenges.** Over 4,000 GPs and healthcare professionals have accessed our free educational programme, and commissioners and primary care teams across England are testing our interventions to improve the diagnostic pathway. By engaging more healthcare professionals in our work, and diversifying the opportunities, we are addressing regional variation and common misconceptions which improves access to diagnosis and shortens the diagnostic pathway. 

- **Advocating for our community by calling on governments to act on ovarian cancer.** Covering 2,026 miles across the UK, we stood in front of every nation’s government to highlight the crisis in ovarian cancer. We met 100 supporters and over 50 MPs, MLAs, MSPs and MSs, and demanded symptoms awareness campaigns based on our Pathfinder findings. We went to the Senedd in Wales to tell the Health and Social Care Select Committee how badly women with ovarian cancer are being let down by the government. At the inquiry into 


gynaecological cancers, we told the stories of hundreds of women who have not been heard and have not been given time to discuss their diagnosis. We demonstrated how prevalent a lack of awareness is in Wales, and the harm this is causing. Our campaigning has helped secure two national awareness campaigns. In England, the Help Us Help You featured abdominal pain as a symptom, while in Scotland the Detect Cancer Early featured campaigner Christine’s story. 

**Making ovarian cancer visible.** Our adverts across UK billboards and newspapers, all donated free of charge by City Outdoor Media and numerous media outlets, had a huge impact on lives. Over a six-month period, they were seen 168 million times and prompted women to see their GPs and get an earlier diagnosis. One woman wrote to thank us for saving her life after seeing our billboard advert in Sheffield and taking a photo of it to show to a doctor. She was diagnosed with stage 1 ovarian cancer and is currently recovering from surgery. This is one of many similar stories. We have empowered women to tell their stories to raise awareness of ovarian cancer in the media which have been seen 548 million times. 


## **Fast Forwarding research:** 

- **Continuing to fund research into better treatments.** Awarding £230,000 to a threeyear research project into immunotherapy for high grade serous ovarian cancer at Imperial College London that will explore treatment pathways for those living with the most common type of ovarian cancer. 

- **Developing the ovarian cancer research leaders of the future.** Dr Robb Hollis (pictured above) was awarded a fellowship to begin his own academic research group in Edinburgh. 

- **Helping to make treatment more accessible.** We were delighted to hear about the impact of our previous research at the University of Edinburgh, led by Professor Gourley and Researcher Dr Robb Hollis. Following the research, we are hopeful it will deliver new drugs for those with low grade serous ovarian cancer and expand treatment options available. 


- **Increasing the understanding of ovarian cancer.** Our researchers published four new publications, gave six presentations, and participated in five public engagement events to bring their exciting research results to a wider audience. 

- **Involving research champions.** We are pleased to involve research champions in the development of our research strategy, and in peer reviewing applications for funding, as well as sending them newsletters and providing opportunities to listen to and question our researchers. 

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## **Hear straight from our community:** 


Thank you so much for helping me tell my story, it really made me feel better just talking to you about it and getting things off my chest. I am now more determined to enjoy every day and enjoy life.” 

## **Karen** 


Knowing that Target Ovarian Cancer is there for both of us, on those bad days and dark days and you can talk to someone who really understands is brilliant. It’s really beneficial, because we both get what we need.” 

**Pauline and Declan Donnelly Click here to watch Pauline and Declan share their story** 


I realised I lost who I was within the diagnosis. Since doing My Next Steps, I feel more like me, a woman who’s not to be messed with and I will challenge for other women. 

Thank you ladies, you’ve helped me to become me again. I still have my moments of vulnerability, and that happens. That’s what having an ovarian cancer diagnosis does. But I’ve dug deep, that’s because of things that we’ve done on the course and all of the women who’ve been there for me. That gives me strength.” 

## **Allyson** 


I came across Target Ovarian Cancer when I was searching for someone who had the same type of cancer as me... I’d really struggled to find someone or their story, but that’s what I found on the charity’s website. It was so reassuring to read someone else’s story and know that I wasn’t alone. I didn’t have to feel like I needed to isolate myself.” 

## **Summer** 


The staging tool is very educational, and although I’ve now seen this a few times, it is still educating me. It is in simplistic terms, and I found myself understanding my stage better.” 


I like to review grant applications, it gives a sense of purpose to my cancer; sometimes it’s a challenge to understand what the research is all about, but easier to overcome than the cancer treatment. 

Being part of the Research Advisory Board it’s always a good experience, listening to how scientists are evaluating the applications looking for pros and cons and then having the possibility of contributing to the discussion with my perspective, which is always valued even when it might sound naive after listening to so much knowledge. Being a research advocate gives me the opportunity to take something positive out of my experience.” **Alicia** 

**Lorraine** 

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## **Ambition: Our future plans to Fast Forward progress** 

**It is vital that we now Fast Forward progress to achieve our goals of doubling survival by 2050, and ensure more women live well with ovarian cancer.** 

**Concerningly, our state-of-the-nation Pathfinder study revealed that:** 

## **Awareness must go further** 

Symptom awareness remains too low. don’t know **One in five women** bloating is a key symptom, and **40 per cent** worryingly believe smear tests can detect ovarian cancer. 

## **A faster diagnosis pathway is possible** 


Women are still waiting too long for a diagnosis with **over a quarter** making three or more visits to their GP and **nearly a third** waiting over three months for the correct diagnosis. 

**44 per cent** of GPs still incorrectly believe symptoms are only present in the later stages of the disease. 

## **Support is missing for too many** 

More needs to be done to support women at the time of diagnosis as a shocking **14 per cent** of women were not told their diagnosis in private. Care during treatment and post-treatment is a must as **60 per cent** reported a negative impact on their mental health, but the research showed that **54 per cent** of respondents hadn’t been asked by anyone involved in their treatment about the impact on their mental health. 

## **Fairer access to treatment is needed** 


We need to make treatment and access to clinical trials available to all. **23 per cent** reported that they were asked if they would like to join a clinical trial, despite **60 per cent** reporting they would like to. 

training and tools for healthcare professionals, addressing inequalities in access to care and advocating alongside our community to ensure ovarian cancer is seen as a health priority. 

We have used this evidence to ensure that we are driving forward the biggest and quickest impact needed for the ovarian cancer community and addressing their needs. This will underpin our new business plan. 

We will continue to highlight the reality of ovarian cancer by amplifying the voices of those living with it every day, and drive change by delivering services, developing 

Through direct delivery of services, systems leadership and influencing activities we can secure change that can change lives. To achieve this, for 2023-2024 we will: 


## **Fast Forward diagnosis by:** 

- Expanding our Early Diagnosis and GP networks to improve education, knowledge, and ultimately outcomes in ovarian cancer. 

- Developing and promoting educational modules and intervention tools to increase early diagnosis. 


## **Fast Forward awareness by:** 

- Demanding UK governments invest in awareness campaigns. 

- Amplifying the experiences of those living with ovarian cancer. 

## **Fast Forward development of, and access to, new treatments by:** 

- Funding groundbreaking research through our research grant at Imperial College London. 


- Campaigning for access to new innovations in treatment. 

## **Fast Forward support by:** 

- Expanding our life-changing supportive services. 

- Producing high-quality informational guides to address unmet needs. 

## **Fast Forward equity by:** 

- Addressing inequalities in access to diagnosis, treatment and support so that everyone affected by ovarian cancer receives excellent care. 


## **Fast Forward progress in ovarian cancer by:** 

Harnessing digital innovation which will increase our income so that we can do more to Fast Forward diagnosis, support and research. 

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## **Governance, structure and management** 

## **Legal entity** 

Target Ovarian Cancer is a company limited by guarantee registered as a company in England and Wales on 13 June 2008 (no. 6619981). It was registered as a charity in England and Wales on 17 July 2008 (no. 1125038) and in Scotland on 6 February 2012 (no. SC042920). The governing document is the Memorandum and Articles of Association, dated 13 June 2008. New Articles of Association were adopted by special resolution, dated 29 December 2011, and were amended by special resolution, dated 21 November 2013 and 14 April 2016. 

## **Charitable objects** 

The objects of the charity are the relief of sickness and the advancement of health for the benefit of the public, in particular, among women who have or are at risk of developing ovarian cancer or other gynaecological diseases by: the promotion of research into the causes, prevention, detection, treatment and cure of ovarian cancer and other gynaecological diseases and their effects and the dissemination of the useful results of such research; relief of suffering among women affected by ovarian cancer and other gynaecological diseases, their families and dependents, through the provision of support and information; and the education of the public on issues relating to ovarian cancer and other gynaecological diseases. 

## **Trustees** 

**Emma Kane, Chair** , was first appointed as a trustee for Target Ovarian Cancer in March 2015. She is the CEO of SEC Newgate UK, Head of EMEA, and Deputy Group CEO. She is Deputy Chair of The Elton John AIDS Foundation and a Director of Green Finance Institute. Emma’s stepchildren’s mother, Heather Ash, died from ovarian cancer in 2007 at the age of 52. 

**Joanna Barker MBE** founded Target Ovarian Cancer in 2008 and has over 30 years’ experience in business and finance. Joanna’s mother and sister died from ovarian cancer in 2005. In 2014 she was awarded an MBE in the Queen’s birthday honours for services to people with cancer. 

**Raj Bhogaita, Honorary Treasurer** , is an accomplished Chief Financial Officer. He has over 30 years’ experience in listed (FTSE, Nasdaq), blue chip and private equity organisations including Exova, Invensys, Sony and Unilever. A number of members of Raj’s family have been impacted by cancer, and his wife’s grandmother died from a gynaecological cancer. 

**Sonya Branch** is General Counsel of the Bank of England and Executive Director for the Bank’s Legal Directorate and sits on many of the Bank’s Boards and Committees. Sonya was previously an Executive Director/Board member at the Competition and Markets Authority and the Office of Fair Trading. She has also held several leadership roles across Whitehall, including at the Cabinet Office and DEFRA. Prior to leadership roles across Government, Sonya was a Partner at the global law firm Clifford Chance LLP. Sonya was listed in the Cranfield School of Management/ EY Women to Watch 2022. In addition to her work with Target Ovarian Cancer, she is a trustee and Chair of the Audit, Risk and Finance Committee of the national charity, NowTeach. 

**Anabel Fielding** is a successful entrepreneur and business leader with over 30 years’ experience working in music, entertainment and luxury events. She is currently FounderCEO of ALITE, a business that supports high level assistants to realise their full potential. Anabel is a recipient of the First Woman Award for Tourism and Leisure and has helped to raise over £20m for charitable causes. She is a proud champion of LGBTQ+ initiatives and excited to help support Target Ovarian Cancer in creating unique experiences to drive awareness, fundraising and lasting impact. 

**Miriam Jordan Keane** is a marketer and 

communications expert with over 30 years’ experience in the UK and international markets. She was the New York-based Chief Brand Officer of Weight Watchers and has held senior positions at Saatchi & Saatchi and British Gas. Having been CMO and Chief Brand Officer at NCS Trust, she is now Public Affairs Advisor to the CEO and the Board. Miriam sits on the Board of Trustees for Voice 

21 and Leukaemia UK, where she chairs the Acceleration Committee. She has a Master’s degree in English from Trinity College, Dublin. She lost her mother and one of her closest friends, way too young, to cancers that particularly target women and is passionate about the vision and mission of Target Ovarian Cancer and proud to be a trustee. 

## **Trustees: appointment, induction and ongoing training** 

Target Ovarian Cancer recognises that a robust, independent and effective Board of Trustees is essential if the charity is to achieve its objectives; that the Board must have available to it all of the knowledge and skills required to govern the charity; and that individual trustees must have sufficient knowledge, both of trusteeship in general and of the charity’s activities to enable them to carry out their role. New trustees are recruited through advertisements on social media and a range of networks in line with the charity’s recruitment of trustees policy and equal opportunities policy. They are appointed by the Board and formally elected at a general meeting of the members. Trustees are appointed for a three-year term, after which they are eligible for re-election for a further three-year term. 

All new trustees receive an induction session, arranged and co-ordinated by the Chief Executive, usually within one month of their appointment. During this session, new trustees are provided with a trustee induction pack that includes the charity’s governing document, business plan, core governance policies, the key financial statements and a collection of minutes of previous trustee meetings as well as Charity Commission guidance on effective non-profit governance. They also attend an external trustee leadership training programme during their first year on the Board, and further training throughout their term as required. 

Trustees receive no remuneration for their time and can claim only documented expenses incurred in carrying out their duties in line with the trustee expenses policy. No expenses were claimed in the year ending 30 June 2023 [2022: £0]. 

## **Charity Governance Code** 

Target Ovarian Cancer is committed to embedding the highest standards of governance within the charity. In 2018-19, the Board adopted the Charity Governance Code and undertook an internal review, using the Code’s diagnostic toolkit, to help identify any priority areas for improvement. The Board monitors adherence to the Code and is satisfied that overall, its policies and practices conform to the best practices of governance set out in the Code. The Board is committed to continuing to recruit trustees to reflect the diversity of the communities supported by Target Ovarian Cancer. 

## **Organisational structure** 

The Board of Trustees is responsible for setting Target Ovarian Cancer’s strategic objectives, the strategy to achieve them and the major policies of the charity. It is responsible for guiding and advising the executive staff, monitoring the performance and impact of the charity, and for identifying and managing the major risks facing the charity. The Board meets five times a year. 

The Chief Executive supports and advises the Board in its activities and in line with the charity’s Statement of Delegated Responsibility is, subject to executive limitations, responsible and fully accountable for achieving strategic objectives including annual key performance indicators set by the Board. 

The charity pays its staff market-rate salaries, which are determined by benchmarking across the sector and taking into consideration any specialist skills. This process applies to all staff, including key management personnel. The salary budget is approved by the Board of Trustees as part of the annual budget setting process. 

The Chief Executive is supported by an expert team of staff. The total number of staff employed at 30 June 2023 was 47 [2022: 38]. 

## **Volunteers** 

The trustees recognise the extremely valuable contribution made by volunteers and wish to place on record their grateful thanks for 

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that commitment. These include the many women living with ovarian cancer and their loved ones; others who undertake fundraising, networking, campaigning and media work on behalf of the charity and who inform the development of our services; members of Target Ovarian Cancer’s Scientific Advisory Board, Primary Care Advisory Board, and Clinical Advisory Panel; the health professionals who support us producing our information and putting on our events; and those who have given pro bono advice and support across a broad range of activities. No amounts are included in the financial statements to reflect the value of work undertaken by volunteers. 

## **Staff** 

The trustees are grateful to all members of staff for the outstanding work that they do on behalf of those affected by ovarian cancer. Target Ovarian Cancer seeks to be an employer of choice and reviews on an annual basis the level of remuneration and other benefits awarded to staff. The trustees engage actively with a view to ensuring the wellbeing of staff and regularly discuss the career development and progression of staff, as well as celebrating staff successes. 

## **Diversity, equity and inclusion** 

Everyone deserves to be treated equally, fairly and with dignity. We recognise that many people are under-valued and treated differently because of who they are. This could be due to race, class, religion or belief, sex, gender, gender identity, age, sexual orientation and disability or a combination of these. By reaching and representing as many people as we can in our work, we will better reflect the communities we serve, make better decisions, be more innovative and have a greater impact on the lives of people affected by ovarian cancer. 

Everyone is welcome at Target Ovarian Cancer. We are committed to: 

- Recognising and addressing inequalities that affect people who need our support, those who support (or could support) us, and our team. 

- Learning and challenging ourselves to embed diversity, equity and inclusion in our everyday practices and behaviours. 

- Making sure Target Ovarian Cancer is a welcoming and inclusive place for everyone. 

We have identified three key areas of work that will help us understand where we are now, and how we can improve: 

- Understanding the needs of people affected by ovarian cancer: Our actions and decision-making will be informed by and carried out in partnership with people from a range of backgrounds and experiences. We are speaking to the people we support, people we could support, those who support us and our team, to inform our work on ovarian cancer and understand how we can better meet their needs. We will use these insights to focus our immediate action on where we believe it will make the greatest difference and develop a longer-term plan. 

- Working in partnership: We are developing partnerships with groups, organisations and individuals, improving our connection to diverse networks so we can better understand how we can develop. 

- Developing our team and 

leadership: Everyone at Target Ovarian Cancer has a role in making sure that we are an inclusive organisation which reflects the diversity of our society. We have reviewed and revised our strategy for the recruitment, retention and development of a diverse and inclusive workforce and Board of Trustees. Through training and ongoing dialogue, we support our team to reflect on their own experiences, assumptions and behaviours, and work in an inclusive way. 

## **Principal risks and uncertainties** 

The trustees have established a risk assessment process through which they identify the major foreseeable risks faced by the organisation, assess their likely impact and, where appropriate, implement measures to mitigate these risks. In our risk map, the principal risks are categorised under the headings Governance, Operational, Financial, External and Compliance. 

The most significant risks to the charity have been identified as: 

## **1)   The impact of the external environment on the charity’s ability to meet income targets to support growth** 

Trustees have carefully considered the potential ongoing negative impact of factors in the external environment on donations, including the war in Ukraine, the rising cost of living and increased mortgage rates. These risks are being mitigated against through diversification of the fundraising portfolio; investment in digital fundraising; careful stewardship of relationships with key donors; and ongoing monitoring of progress of expenditure and cashflow. The charity has implemented the recommendations of an external fundraising audit concluded in August 2022 and re-focused its investment in fundraising to help ensure that the charity meets its income targets to support growth and progress against its charitable objectives. 

## **2)  Inability to recruit and retain key staff** 

- Salaries are regularly benchmarked to market rates and additional non-pay benefits are publicised to attract high quality staff. Flexible working solutions are in place to attract new staff, including from outside the South East. Robust recruitment processes are in place with thorough interviews and selection processes, and a detailed induction for new starters. 

## **3)   Internal suspension of business due to cyber attack** 

The charity works with its specialist IT provider to ensure that its servers are secure and multi-factor authentication is in place for access to the charity’s databases and email and file servers. Our IT security arrangements are reviewed regularly and staff receive regular training on data protection, including identifying suspicious phishing on email and other channel risks. Cyber insurance is in place to mitigate against the impact of any cyber-attack. 

The trustees have reviewed the major risks to which Target Ovarian Cancer is exposed, in the areas where it operates and the activities it undertakes, and are satisfied that appropriate actions have been taken, and that systems have been established to monitor and mitigate those risks. 

## **Grant making policy** 

Target Ovarian Cancer launched its unique national ovarian cancer research programme in 2012. We aim to find and fund world-class research for the benefit of everyone impacted by ovarian cancer, and our funding is open to researchers across the UK. Our gold-standard scientific review process ensures that we only fund the best doctors and researchers in hospitals and universities across the UK. The trustees award grants based on the recommendations of our Scientific Advisory Board, which considers further opinions from national and international experts in the field as well as patient representatives. Our membership of the Association of Medical Research Charities is an important mark of approval for the high quality of our peer review process. 

## **Public benefit** 

The Charities Act requires every charity to meet the legal requirement that its aims are for the public benefit. The Charity Commission in its ‘Charities and Public Benefit’ guidance states that there are two key principles to be met in order to show that an organisation’s aims are for the public benefit: firstly, there must be an identifiable benefit and secondly, that the benefit must be to the public or a section of the public. The trustees are satisfied that the aims and objectives of the charity, and the activities reported on in this Annual Report to achieve those aims, meet these principles. 

## **Fundraising standards** 

The charity undertakes fundraising activity via a wide range of channels such as direct mail, treks, fundraising events, sponsored events, gala dinners, community events, and other such activities. The trustees abide by the Fundraising Code of Practice set by 

**20 Target Ovarian Cancer** Annual Report 2023 

**Target Ovarian Cancer** Annual Report 2023 **21** 



## **Financial review** 

the Fundraising Regulator in overseeing the fundraising activities of Target Ovarian Cancer and any third parties fundraising on the charity’s behalf. They also follow the Office of the Scottish Charity Regulator guidance covering Scottish charity law in relation to fundraising and charity trustee duties. 

During the year to 30 June 2023, the charity worked with two fundraising consultants on a short-term basis in delivering fundraising activity. They adhered to the Fundraising Code of Practice and our policies and procedures regarding privacy and the treatment of supporters and donors as per their contractual terms. We monitored their activities on a regular basis to ensure compliance. 

We train our fundraising staff and volunteers to reinforce our fundraising ethics, policies, and procedures. Our volunteers are supervised in their activities by charity staff to ensure compliance. 

No complaints were received in the period to 30 June 2023 [2022: 0]. 

Target Ovarian Cancer’s fundraising abides by the four key principles of the Institute of Fundraising’s Treating Donors Fairly policy, which are: 

respect 

fairness 

responsive 

accountable 

We follow the Institute of Fundraising guidance if we suspect that a donor lacks the capacity to make a decision about a donation. Our safeguarding policy includes the procedures for the safeguarding of vulnerable donors. The policy is reviewed on a regular basis and we have a lead officer for safeguarding and a safeguarding panel to review any cases where a vulnerable donor is suspected. 

## **Working with others** 

Target Ovarian Cancer is committed to working in collaboration with others who share an interest in improving outcomes for women with ovarian cancer. The charity will not duplicate work that is already meeting the needs of women with ovarian cancer. 

Target Ovarian Cancer works with 

the following organisations: All-Party Parliamentary Group on Ovarian Cancer (we provide the secretariat); Association of Medical Research Charities (member); British Gynaecological Cancer Society; Medical Research Council; NHS Digital; National Institute of Health and Care Excellence; National Institute for Health and Care Research; NHS England; Royal College of General Practitioners; Royal College of Obstetricians and Gynaecologists; Royal College of Nursing; Scottish Cancer Coalition; Scottish Medicines Consortium; Wales Cancer Alliance; Specialist Cancer Charities CEO Group; Cancer 52; One Cancer Voice; Colostomy UK; The Eve Appeal; Macmillan Cancer Support; Ovacome; Ovarian Cancer Action; and Wellbeing of Women. 

Target Ovarian Cancer is a co-founder of the World Ovarian Cancer Coalition and World Ovarian Cancer Day. In December 2021, Target Ovarian Cancer’s Chief Executive Annwen Jones OBE was appointed Chair of the World Ovarian Cancer Coalition. 

Our fundraising income rose to £2.74m, 3 per cent more than in the prior year [2022: £2.66m] despite a challenging external environment, with total income including donated services exceeding £4m for the first time in our history at £4.02m – growth of 23 per cent compared to the prior year total [2022: £3.27m]. 

We spent £3.15m in 2022/23, 9 per cent more than in the prior year [2022: £2.89m], as part of our ongoing commitment to do everything we can to make a difference for women with ovarian cancer. In addition to this, we also secured donated services worth £1.27m [2022: £608k]. 

Overall the charity made a deficit of £396k [2022: £224k] as part of a planned strategy to reduce the amount held in reserves in order to drive as much impact as possible for women with ovarian cancer. This deficit took the charity from opening total reserves of £1.4m to closing total reserves at the end of June 2023 of £1.01m, of which £795k were unrestricted, comfortably within our reserves policy. 

## **Income** 

Our total income, including donated services, increased to £4.02m [2022: £3.27m] – growth of 23 per cent. We recognise donated services in the accounts by adding the value of the gifts to both our income and expenditure (in line with charity accounting standards), and of that £753k increase in income year on year, £663k related to donated services. This is primarily billboard and media advertising space, so it represents a significant success for the charity and in particular its objective to ensure that as many people as possible are aware of the symptoms of ovarian cancer, and that we are here to support them. We remain extremely grateful for the generous pro bono support of our corporate and media partners. 

Despite the very challenging external environment, our fundraised income also grew to £2.74m [2022: £2.66m] with all areas of fundraising showing growth compared to the prior year, except for legacies due primarily to a significant gift in the previous year. Gifts 

from individuals and trusts grew by £160k or 21 per cent; general public donations by £124k or 9 per cent; and corporate donations by £36k or 141 per cent. We continue to be deeply grateful for the gifts we receive from all of our supporters, and the trustees wish to acknowledge and thank all donors and volunteers for their invaluable support during the past year. 

## **Expenditure** 

We also grew our total expenditure in the year, including donated services, to £4.42m [2022: £3.49m], with our charitable expenditure growing by 35 per cent to £3.26m [2022: £2.42m]. 

As above, we recognise donated services in the accounts by adding the value of the gifts to both our income and expenditure in line with charity accounting standards. However our expenditure excluding donated services also increased by 9 per cent to £3.15m [2022: £2.89m] as part of our plan to deliver impact by reducing the amount held in reserves. 

The expenditure related to donated advertising and billboard space for 2022/23 was split between early diagnosis and supportive services given that these gifts enabled us to grow awareness of the symptoms of ovarian cancer, and direct people to our supportive services. The significant increase in donated support increased our total expenditure in both areas, but even excluding donated services our expenditure on early diagnosis increased by 71 per cent to £824k [2022: £482k] while expenditure on our supportive services of £1.02m increased by 8 per cent [2022: £942k], demonstrating the charity’s ongoing commitment to these areas. 

Our expenditure on research of £148k decreased by 62 per cent [2022: £392k], due to the completion of a number of major research projects. 

The charity increased its investment in fundraising by 8 per cent to £1.16m [2022: £1.07m] in light of the recommendations of an external fundraising audit. The Senior 

**22 Target Ovarian Cancer** Annual Report 2023 

**Target Ovarian Cancer** Annual Report 2023 **23** 



Leadership Team and the Board of Trustees will ensure that the additional expenditure generates an appropriate return and continues to maximise the impact the charity has for women with ovarian cancer. 

## **Reserves policy** 

We hold financial reserves to ensure that we are able to continue to fund our vital work if our income is lower than expected, and to ensure that the charity has working capital to meet upfront expenditure during the year before income is received. 

As a result, the Board of Trustees has agreed a policy to hold three months of salary costs and six months of rent and support costs in unrestricted funds. The total of these amounts at 30 June 2023 gives a target minimum unrestricted reserves figure of £604k, which the charity’s closing unrestricted reserves of £795k fully complies with. As above, the closing reserves figure follows a deficit of £396k, demonstrating the charity’s commitment to release reserves to drive impact for women with ovarian cancer. 

Restricted funds are donations given to the charity for use only in a specific way, which might be due to specific terms set by donors or due to the wording of a fundraising appeal. On 30 June 2023 restricted funds amounted to £215k [2022: £368k]. 

## **Investment policy** 

The charity aims to secure as a matter of urgency the earliest possible improvements in survival and quality of life for women with ovarian cancer, so surplus funds are not committed to long-term investment but rather are deposited in savings accounts, so that they are readily available. 

## **Going concern** 

Having reviewed budgets and cash flow forecasts for a period of 12 months from the date of signing of the accounts, the trustees are able to confirm that they are of the opinion there are no material uncertainties related to events or conditions that may cast significant doubt over the ability of the charity to continue as a going concern. 

## **Statement of Trustees’ responsibilities in respect of the Trustees’ annual report and the financial statements** 

reasonable accuracy at any time the financial position of the charitable company, and enable them to ensure that the financial statements comply with the Companies Act 2006. They are responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities. 

The trustees are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and regulations. 

Company law requires the trustees to prepare financial statements for each financial year. Under that law, they are required to prepare the financial statements in accordance with UK accounting standards and applicable law (UK Generally Accepted Accounting Practice), including FRS 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland. 

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 excess of income over expenditure for that period. In preparing these financial statements, the trustees are required to: 

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. 

So far as each of the trustees is aware at the time the report is approved: 

- select suitable accounting policies and then apply them consistently; 

   - there is no relevant audit information of which the company is unaware 

- make judgements and estimates that are reasonable and prudent; 

   - they have taken all the steps that they ought to have taken to make themselves aware of that information 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 

The Trustees’ Report has been prepared in accordance with the special provisions relating to the small companies regime within Part 15 of the Companies Act 2006. 

- assess the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and 

Approved by the trustees on 25 January 2024 and signed on their behalf by: 

- use the going concern basis of accounting unless they either intend to liquidate the charitable company or to cease operations or have no realistic alternative but to do so. 


The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions, disclose with 

**Emma Kane** 

Chair, Board of Trustees 

**24 Target Ovarian Cancer** Annual Report 2023 

**Target Ovarian Cancer** Annual Report 2023 **25** 



## **Independent auditor’s report to the members of Target Ovarian Cancer** 

## **Opinion** 

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. 

We have audited the financial statements of Target Ovarian Cancer for the year ended 30 June 2023 which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cashflows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 

## **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. 

In our opinion, the financial statements: 

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 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. 

- give a true and fair view of the state of the charitable company’s affairs as at 30 June 2023 and of the charitable company’s net movement in funds, including the income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

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

- have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006. 

## **Other information** 

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report and the Chair and Chief Executive’s statement. 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. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in 

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 Trustees’ Annual Report (which includes the strategic report and the directors’ report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the strategic report and the directors’ report included within the Trustees’ Annual Report have been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report (which incorporates the strategic report and the directors’ report). 

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

- adequate accounting records have not been kept by the charitable company; or 

- the 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; or 

- the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report. 

## **Responsibilities of trustees for the financial** 

## **statements** 

- As explained more fully in the trustees’ responsibilities statement set out on page 20, 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 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 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 

**26 Target Ovarian Cancer** Annual Report 2023 

**Target Ovarian Cancer** Annual Report 2023 **27** 



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. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the regulatory requirements of the Charity Commission and Office of Scottish Charity Regulator (OSCR), and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, the Charities Act 2011, the Charity Accounts (Scotland) Regulations (as amended), Charities SORP (2019) and payroll taxes. 

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the recognition of voluntary income and grant commitments. Audit procedures performed by the engagement team included: 

- Enquiries of management regarding correspondence with regulators and tax authorities; 

- Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud; 

Reviewing the controls and procedures of the charity, particularly in relation to the recording of income and processing of payments and payroll, to ensure these were in place throughout the year; 

Evaluating management’s controls designed to prevent and detect irregularities; 

- Reviewing and testing journal entries made in the year, in particular journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions; and 

Challenging assumptions and judgements made by management in their critical accounting estimates which comprise valuation of services in kind, legacy income accruals, grants payable, accruals and deferred income. 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 

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

## **Use of our report** 

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, section 44(1)(c) of the Charities and Trustee Investment (Scotland) 

Act 2005 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company’s members 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 and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed. 


## **Kathryn Burton** (Senior Statutory Auditor) 

For and on behalf of Haysmacintyre LLP, Statutory Auditors 

10 Queen Street Place London EC4R 1AG 

[25 January 2024] 

**28 Target Ovarian Cancer** Annual Report 2023 

**Target Ovarian Cancer** Annual Report 2023 **29** 



## **Financial statements** 

**Statement of financial activities** (incorporating an income and expenditure account) 

Charity Number: 1125038 Company Number: 6619981 

## **For the year ended 30 June 2023** 

|**Unrestricted**<br>Notes<br>**£**|**Unrestricted**<br>Notes<br>**£**|**Restricted**<br>**£**|**2023**<br>**£**|2022<br>£|
|---|---|---|---|---|
|**Income from:**<br>Donations, grants & legacies<br>3<br>Investment Income<br>**Total income**<br>**Expenditure on:**<br>Raising funds<br>_Charitable activities_<br>Research<br>Earlier Diagnosis<br>Supportive Services<br>**Total expenditure**<br>4<br>**Net surplus/(defcit)**<br>5<br>**for the year**<br>**Funds brought forward**<br>**Transfers**<br>**Total funds carried forward**|3,709,777<br>12,163<br>3,721,940<br>1,157,696<br>58,928<br>1,378,025<br>1,510,257<br>4,104,906<br>(382,966)<br>1,038,662<br>139,429<br>**795,125**|301,722<br>0<br>301,722<br>0<br>88,669<br>80,767<br>145,684<br>315,120<br>(13,398)<br>368,316<br>(139,429)<br>**215,489**|**4,011,499**<br>**12,163**<br>**4,023,662**<br>**1,157,696**<br>**147,597**<br>**1,458,792**<br>**1,655,941**<br>**4,420,026**<br>(396,364)<br>**1,406,978**<br>**0**<br>**1,010,614**|3,268,030<br>2,532<br>3,270,562<br>1,069,805<br>392,412<br>785,992<br>1,245,895<br>3,494,104<br>(223,542)<br>1,630,520<br>0<br>**1,406,978**|



All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 14 to the financial statements. The comparative SOFA from 2022 can be seen in Note 21. 

## **Balance sheet** 

Charity Number: 1125038 Company Number: 6619981 

## **As at 30 June 2023** 

|Notes|**£**|**2023**<br>**£**|£|2022<br>£|
|---|---|---|---|---|
|**Fixed assets**<br>Tangible fxed assets<br>9<br>**Current assets**<br>Debtors<br>10<br>Cash at bank and in hand<br>11<br>**Liabilities**<br>Creditors: amounts due<br>12<br>within one year<br>**Net current assets**<br>**Total assets less current**<br>**liabilities**<br>**Net assets**<br>14<br>**Funds**<br>14<br>Restricted funds<br>Unrestricted funds<br>Designated funds<br>15<br>General Funds<br>**Total charity funds**|**209,734**<br>**1,146,592**<br>**1,356,326**<br>**(370,489)**|**24,777**<br>**985,837**<br>**1,010,614**<br>**1,010,614**<br>**215,489**<br>**0**<br>**795,125**<br>**795,125**<br>**1,010,614**|287,396<br>1,500,483<br>1,787,879<br>(408,198)|27,296<br>1,379,682<br>1,406,978<br>1,406,978<br>368,316<br>451,019<br>587,643<br>1,038,662<br>1,406,978|



Approved by the Trustees on 25 January 2024 and signed on their behalf by 



**Emma Kane Raj Bhogaita** Chair Treasurer 

The notes on pages 29 - 37 form part of the Financial Statements. 

**30 Target Ovarian Cancer** Annual Report 2023 

**Target Ovarian Cancer** Annual Report 2023 **31** 



## **Notes to the financial statements** 

## **Statement of cash flows** 

## **For the year ended 30 June 2023** 

|Note|Note|**2023**<br>2022<br>**£**<br>£|
|---|---|---|
|**Cash provided by (used in) operating activities**<br>19<br>**Cash fows from investing activities**<br>Dividends, interest and rents from investment<br>Purchase of property, plant and equipment<br>**Cash provided by (used in) investing activities**<br>**Change in cash and cash equivalents in the reporting period**<br>Cash and cash equivalents at the beginning of the year<br>20<br>**Cash and cash equivalents at end of year**||**(352,755)**<br>(360,544)<br>**12,163**<br>2,532<br>**(13,299)**<br>(15,005)<br>**(1,136)**<br>(12,473)<br>**(353,891)**<br>(373,017)<br>**1,500,483**<br>1,873,500<br>**1,146,592**<br>1,500,483|
|Note|**2023**<br>**£**|**Cash fow**<br>2022<br>**movement**<br>**£**<br>£|
|**Analysis of changes in net debt**<br>Cash and cash equivalents<br>11<br>Debt due within one year<br>12<br>**Total**|**1,146,592**<br>**(370,489)**|(353,891)<br>1,500,483<br>37,709<br>(408,198)<br>(316,182)<br>1,092,285|
||**776,103**||



**For the year ended 30 June 2023** 

## 1. Accounting policies 

- **a.** The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Target Ovarian Cancer meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). 

- **b.** The trustees are of the view that there are no material uncertainties regarding the charity’s ability to continue as a going concern and therefore the assessment of the trustees is that the charity is a going concern. 

- **c.** Preparation of the accounts requires trustees and management to make significant judgement and estimates. Judgment and estimates have been applied in the accounts in the following areas: 

   - Estimating the probability of the receipt of legacy income and estimating the amount to be received 

   - Entitlement to income on multi-year grants received 

   - Estimating the liability of any multi-year grants payable • Estimating the useful economic life of tangible fixed assets 

   - Estimating dilapidation costs on cessation of the premises lease 

- **d.** Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund. Transfers between restricted and unrestricted funds are only made when written instructions have been received from the original donor. 

- **e.** Unrestricted funds are donations and other income received or generated for specific charitable purposes. 

- **f.** Donations and legacies are recognised in the financial statements when the charity is entitled to the income, it is more probable than not that the charity will receive the income, and the amount can be measured reliably. 

- **g.** Donated services are only included in income (with an equivalent amount in expenditure) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received. The value of help from volunteers is not included in the accounts but is described in the Trustees’ annual report. 

- **h.** Raising funds relate to the costs incurred by the charitable company in encouraging donations, as well as the cost of any activities with a fundraising and publicity purpose. 

- **i.** Expenditure is recognised in the period in which it is incurred. Expenditure includes attributable VAT which cannot be recovered. 

- **k.** Support costs are those costs which do not in themselves constitute a charitable or fundraising activity but are necessary to support these activities. They will include central office functions such as finance, HR and general management. 

- **l.** Expenditure is allocated to the particular activity where the cost relates directly to that activity. Support costs are re-allocated to each of the activities based on direct staff costs. 

- **m.** Governance costs form part of support costs and are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities. 

|**n.**|Depreciation is provided at rates calculated to write down<br>the cost of each asset to its estimated residual value over its|
|---|---|
||expected useful life. A full year’s depreciation is charged in<br>the year of acquisition. The depreciation rates in use are|
||as follows:<br>Furniture, fxtures and offce equipment<br>3 years|
||Digital assets<br>3 years|
||Website upgrade<br>5 years|
|**o.**|Items of equipment are capitalised where the purchase|
||price exceeds £500. Depreciation costs are allocated to|
||activities on the basis of the use of the related assets in|
||those activities. Assets are reviewed for impairment if|
||circumstances indicate their carrying value may exceed their<br>net realisable value and value in use.|



- **p.** The charity pays 5 per cent employer contribution to the Private Pension Company on behalf of qualifying employees. The pension cost charge represents contributions payable under the scheme by the charity to the Private Pension Company. The charity has no liability under the scheme other than for the payment of those contributions. 

- **q.** Rentals payable under operating leases, where substantially all the risks and rewards of ownership remain with the lessor, are charged to the Statement of Financial Activities on a straight-line basis over the lease duration. 

- **r.** The charity only has financial assets and 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. Interest on funds held on deposit is included when receivable and the amount can be reliably measured by the charity; this is normally upon notification of the interest paid or payable by the bank. 

- **s.** The charity will designate funds at its discretion to fund specific programmes or activities. These designated funds can be undesignated at any time if required. 

## 2. Legal status 

   - The charity is a company limited by guarantee and a public benefit entity which has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. 

- **j.** Grants are recognised to the extent that a liability is incurred from a constructive or a legal obligation. 

**32 Target Ovarian Cancer** Annual Report 2023 

**Target Ovarian Cancer** Annual Report 2023 **33** 



## **Notes to the financial statements For the year ended 30 June 2023** 

## 3. Donations and legacies 

|Unrestricted<br>Restricted<br>**TOTAL 2023**<br>TOTAL 2022<br>£<br>£<br>**£**<br>£|Unrestricted<br>Restricted<br>**TOTAL 2023**<br>TOTAL 2022<br>£<br>£<br>**£**<br>£|
|---|---|
|Legacies<br>Gifts from individuals and trusts<br>General donations<br>Corporate donations<br>Subtotal<br>Donated services<br>**TOTAL**<br>Gifts in Kind<br>Professional Services<br>Web advertising<br>Outdoor advertising space<br>Other advertising space<br>**TOTAL**|270,994<br>0<br>**270,994**<br>510,504<br>628,525<br>300,017<br>**928,542**<br>768,919<br>1,477,578<br>1,705<br>**1,479,283**<br>1,355,314<br>62,174<br>0<br>**62,174**<br>25,747<br>2,439,271<br>301,722<br>**2,740,993**<br>2,660,484<br>1,270,506<br>0<br>**1,270,506**<br>607,546<br>3,709,777<br>301,722<br>**4,011,499**<br>3,268,030<br>0<br>0<br>**0**<br>5,400<br>117,752<br>0<br>**117,752**<br>83,966<br>848,099<br>0<br>**848,099**<br>392,250<br>304,655<br>0<br>**304,655**<br>125,930<br>1,270,506<br>0<br>**1,270,506**<br>607,546|



|Unrestricted<br>Restricted<br>**TOTAL 2023**<br>TOTAL 2022<br>£<br>£<br>**£**<br>£|Unrestricted<br>Restricted<br>**TOTAL 2023**<br>TOTAL 2022<br>£<br>£<br>**£**<br>£|
|---|---|
|Legacies<br>Gifts from individuals and trusts<br>General donations<br>Corporate donations<br>Subtotal<br>Donated services<br>**TOTAL**<br>Gifts in Kind<br>Professional Services<br>Web advertising<br>Outdoor advertising space<br>Other advertising space<br>**TOTAL**|510,504<br>0<br>**510,504**<br>240,201<br>283,257<br>485,662<br>**768,919**<br>1,000,691<br>1,347,431<br>7,883<br>**1,355,314**<br>1,047,338<br>15,747<br>10,000<br>**25,747**<br>49,101<br>2,156,939<br>503,545<br>**2,660,484**<br>2,337,331<br>607,546<br>0<br>**607,546**<br>1,549,021<br>2,764,485<br>503,545<br>**3,268,030**<br>3,886,352<br>5,400<br>0<br>**5,400**<br>541<br>83,966<br>0<br>**83,966**<br>110,919<br>392,250<br>0<br>**392,250**<br>894,500<br>125,930<br>0<br>**125,930**<br>543,060<br>607,546<br>0<br>**607,546**<br>1,549,021|



Gifts in kind totalling £1,270,506 relate to publicity of the symptoms of ovarian cancer to encourage earlier diagnosis (£635,253) and publicity of our services to women with ovarian cancer (£635,253) provided at the estimated market rate. During the year, the charity received donations of web advertising space, magazine advertising, professional and management services and outdoor advertising services. The charity has benefited from the contribution of unpaid general volunteers which have not been identified in these accounts. No commitments or other unrecognised contingencies have arisen from these donations. 

**34 Target Ovarian Cancer** Annual Report 2023 

**Target Ovarian Cancer** Annual Report 2023 **35** 



## **For the year ended 30 June 2023** 

## 4. Total expenditure 

||**Fundraising**|**Research**|**Earlier**|**Supportive**|**TOTAL**|TOTAL|
|---|---|---|---|---|---|---|
||**& Publicity**||**Diagnosis**|**Services**|**2023**|2022|
||£|£|£|£|**£**|£|
|Staff costs|486,506|60,813|451,754|573,380|**1,572,453**|1,183,360|
|Direct costs|471,803|61,860|89,299|147,421|**770,383**|755,746|
|Advocacy|0|0|97,339|64,893|**162,232**|316,535|
|Support Costs|199,388|24,924|185,146|234,994|**644,452**|630,917|
|Subtotal|1,157,697|147,597|823,538|1,020,688|**3,149,520**|2,886,558|
|Donated services|0|0|635,253|635,253|**1,270,506**|607,546|
|**TOTAL**|**1,157,697**|**147,597**|**1,458,791**|**1,655,941**|**4,420,026**|3,494,104|



Support costs includes £262,799 of staff costs [2022: £299,104], and the Advocacy line also includes £119,453 of staff costs. Total staff costs are £1,954,705 [2022: £1,820,182] as disclosed in Note 6. 

|**Analysis of Support Costs**|**2023**|2022|
|---|---|---|
||**£**|£|
|Staff costs|**262,799**|299,104|
|Governance costs|**15,600**|14,016|
|Offce costs|**329,165**|292,824|
|Legal and Professional|**21,070**|11,580|
|Depreciation|**15,818**|13,393|
|**TOTAL**|**644,452**|630,917|



Support Costs are allocated on the basis of the staff costs of each department. 

## 5. Net income for the year 

|This is stated after charging:|**2023**<br>**£**|2022<br>£|
|---|---|---|
|Depreciation<br>Operating lease rentals: Property<br>Auditors’ remuneration:|**15,818**<br>**69,860**<br>**15,600**<br>**101,278**|13,393<br>67,023<br>10,680<br>91,096|



## **For the year ended 30 June 2023** 

## 6. Staff costs and numbers 

|**Staff costs were as follows:**|**2023**<br>**£**|2022<br>£|
|---|---|---|
|Salaries and wages<br>Social security costs<br>Pensions<br>Total emoluments paid to staff were:|**1,698,884**<br>**183,389**<br>**72,431**<br>**1,954,704**|1,493,847<br>154,928<br>62,647<br>1,711,422|



The key management personnel of the charity comprises the trustees, the Chief Executive, the Director of Finance & Corporate Services, the Director of Development, the Director of Communications, the Director of Programmes, and the Deputy Director of Services. The total employee benefits of the key management personnel of the charity were £594,588 (2022: £494,621), an increase of 17 per cent explained by the cost of interim cover for vacant posts during a number of personnel changes in the year. 

In 2023 one employee earned between £100,001 and £110,000 (2022: one employee earned between £100,001 and £110,000). Pension costs relating to this employee amounted to £5,304 (2022: £4,709). In 2022 one employee earned between £90,001 and £100, 000. In 2022 one employee earned between £80,001 and £90,000. In 2023 one employee earned between £70,001 and £80,000 (2022: one employee earned between £70,001 and £80,000). 

||**2023**<br>**No.**|2022<br>No.|
|---|---|---|
|Fundraising<br>Research<br>Supportive Services<br>Earlier Diagnosis<br>Advocacy<br>Governance<br>Support|**13.8**<br>**1.4**<br>**12.1**<br>**10.3**<br>**3.5**<br>**0.1**<br>**6.0**<br>**47.2**|15.0<br>2.0<br>6.2<br>3.0<br>3.0<br>0.6<br>8.6<br>38.4|



At 30 June 2023 the charity employed 47 staff (2022: 39 staff). The average number of staff in the year was 44 (2022: 35). 

No trustees reclaimed expenses in 2023 (2022 £0). No trustees have been paid any remuneration or received any other benefits from an employment or a related entity (2022 £0). There were no other related party transactions in this year or prior year. 

**36 Target Ovarian Cancer** Annual Report 2023 

**Target Ovarian Cancer** Annual Report 2023 **37** 



## 7. Grant making 

||**2023**|2022|
|---|---|---|
||**£**|£|
|Research Grants|**35,638**|98,866|
||**-**||
|Costs of managing the grant making programme|**60,813**|40,717|



In 2022/23 the Scientific Advisory Board agreed to award a medical research grant of £229,999 to Professor Sadaf Ghaem-Maghami, Imperial College London to investigate DCAF15 amplification as a therapeutic target to unleash local anti-tumour immunity. 

## 8. Taxation 

Target Ovarian Cancer is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2011 and, therefore, it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 

## 10. Debtors 

||**2023**<br>**£**|2022<br>£|
|---|---|---|
|Prepayments<br>Other debtors<br>11. Cash at bank and in hand|**38,957**<br>**170,777**<br>**209,734**|76,722<br>210,674<br>287,396|
||**2023**<br>**£**|2022<br>£|
|Current accounts<br>Short term bank deposits|**546,080**<br>**600,512**<br>**1,146,592**|900,743<br>599,740<br>1,500,483|



## 9. Tangible fixed assets 

||**2023**<br>**£**|2022<br>£|
|---|---|---|
|Furniture, fxtures and equipment<br>**Cost**<br>At the start of the year<br>Additions in the year<br>At the end of the year<br>**Depreciation**<br>At the start of the year<br>Charge for the year<br>At the end of the year<br>**Net book value**<br>**At the end of the year**<br>At the start of the year|**230,022**<br>**13,299**<br>**243,321**<br>**202,726**<br>**15,818**<br>**218,544**<br>**24,777**<br>**27,296**|215,017<br>15,005<br>230,022<br>189,333<br>13,393<br>202,726<br>27,296<br>25,684|



**38 Target Ovarian Cancer** Annual Report 2023 

**Target Ovarian Cancer** Annual Report 2023 **39** 



## 12. Creditors and accruals 

||**Amounts due within one year**<br>**2023**<br>2022<br>**£**<br>£|**Amounts due within one year**<br>**2023**<br>2022<br>**£**<br>£|
|---|---|---|
|Trade creditors<br>Deferred income<br>Grants payable<br>Taxation and social security<br>Accrued expenditure<br>There were no creditors due after one year.<br>Deferred income<br>Opening deferred income<br>Released in the accounting period<br>Deferred to future periods<br>Closing deferred income<br>Analysed as deferred income falling due<br>Within one year<br>After one year<br>Grants Payable at 1st July 2022<br>Grants awarded<br>Write backs of completed grants<br>Grant payments made in year|**96,999**<br>**5,434**<br>**141,697**<br>**46,981**<br>**79,378**<br>**370,489**<br>**2023**<br>£<br>**76,497**<br>**76,497**<br>**5,434**<br>**5,434**<br>**5,434**<br>**0**<br>**196,608**<br>**35,638**<br>**(58,776)**<br>**(31,773)**<br>**141,697**|19,286<br>76,497<br>196,608<br>0<br>115,806<br>408,197<br>2022<br>£<br>4,949<br>(4,949)<br>76,497<br>76,497<br>**76,497**<br>**0**|
|Total Grants Outstanding at 30th June 2023|||



## 13. Financial instruments 

||**2023**<br>**£**|2022<br>£|
|---|---|---|
|Cash<br> <br>Financial assets held at amortised cost<br>a)<br>Financial liabilities held at amortised cost<br>b)<br>**Net fnancial assets**|**1,146,592**<br> **142,729**<br>**(141,697)**<br>**1,147,624**|1,500,483<br>167,865<br>(380,564)<br>1,287,784|



- a)  Financial assets held at amortised cost included debtors, accrued income and other debtors but excludes prepayments. 

- b)  Financial liabilities held at amortised costs include trade creditors and all other creditors except deferred income and statutory taxes. 

## 14. Analysis of net assets between funds 

|Unrestricted<br>2023<br>Funds<br>£|Unrestricted<br>2023<br>Funds<br>£|Restricted<br> <br>Funds<br>£|**Total funds**<br>**2023**<br>**£**|
|---|---|---|---|
|Tangible fxed assets<br>Current assets<br>Current liabilities<br>**Net assets at the end of the year**|24,777<br>999,142<br>(228,793)<br>795,125|0<br>357,186<br>(141,697)<br>215,489|24,777<br>1,356,326<br>(370,489)<br>1,010,614|
|||||
|||||
||||**Total funds**<br>**2022**<br>**£**|
|Unrestricted<br>2022<br>Funds<br>£||Restricted<br> <br>Funds<br>£||
|Tangible fxed assets<br>Current assets<br>Current liabilities<br>**Net assets at the end of the year**|27,296<br>1,151,829<br>(140,463)<br>1,038,662|0<br>636,051<br>(267,735)<br>368,316|27,296<br>1,787,880<br>(408,198)<br>1,406,978|



**40 Target Ovarian Cancer** Annual Report 2023 

**Target Ovarian Cancer** Annual Report 2023 **41** 



## 14. Analysis of net assets between funds continued 

|**Movements in funds 2023**|At the start<br>of the year<br>£|Income<br>£|Expenditure<br>£|Transfers<br>£|**At the end**<br>**of the year**<br>**£**|
|---|---|---|---|---|---|
|**Restricted funds:**<br>Supportive Services<br>Research Programme<br>Earlier diagnosis<br>In Touch<br>Peter Sowerby Foundation<br>Julia and Hans Rausing Trust<br>Total restricted funds<br>Total designated Funds<br>Total unrestricted funds<br>**Total funds**|19,550<br>312,637<br>0<br>12,866<br>23,263<br>368,316<br>451,019<br>587,643<br>**1,406,978**|53,268<br>120,950<br>22,620<br>0<br>44,884<br>60,000<br>301,722<br>0<br>3,721,940<br>**4,023,662**|(72,818)<br>(88,669)<br>(12,620)<br>(12,866)<br>(68,147)<br>(60,000)<br>(315,120)<br>0<br>(4,104,906)<br>**(4,420,026)**|0<br>(139,429)<br>0<br>0<br>0<br>0<br>(139,429)<br>(451,019)<br>590,448<br>**0**|**0**<br>**205,489**<br>**10,000**<br>**0**<br>**0**<br>**0**<br>215,489<br>0<br>795,125<br>**1,010,614**|



|**Movements in funds 2022**|At the start<br>of the year<br>£|Income<br>£|Expenditure<br>£|**At the end**<br>**of the year**<br>**£**|
|---|---|---|---|---|
|**Restricted funds:**<br>Supportive Services<br>Research Programme<br>Earlier diagnosis<br>In Touch<br>Peter Sowerby Foundation<br>Pathfnder<br>Total restricted funds<br>Total designated Funds<br>Total unrestricted funds<br>**Total funds**|0<br>344,907<br>0<br>12,866<br>46,930<br>1,550<br>406,253<br>736,000<br>488,267<br>**1,630,520**|84,430<br>212,697<br>131,532<br>0<br>44,885<br>30,000<br>503,544<br>0<br>2,767,017<br>**3,270,561**|(64,880)<br>(244,967)<br>(131,532)<br>0<br>(68,553)<br>(31,550)<br>(541,482)<br>(284,981)<br>(2,667,641)<br>**(3,494,104)**|**19,550**<br>**312,637**<br>**0**<br>**12,866**<br>**23,262**<br>**0**<br>368,315<br>451,019<br>587,643<br>**1,406,977**|



## **Purpose of funds** 

Supportive Services Research Programme Earlier diagnosis In Touch Peter Sowerby Foundation Rausing Charitable Trust Pathfinder 

To provide information and support to women with ovarian cancer. To fund research into aspects of ovarian cancer. To raise awareness of the symptoms of ovarian cancer. To provide support networks for women with ovarian cancer. To identify and break down the barriers to the diagnosis of ovarian cancer. To provide information and support to women with ovarian cancer. To support the evaluation of ovarian cancer services. 

## 15. Designated Funds 

In the year, the trustees made the decision to return a number of amounts from designated funds to unrestricted funds. £451,019 was returned to unrestricted funds from a designation to research, £90,000 from the expansion of supportive services, and £15,386 from the charity’s diversity, inclusion and equality work. These areas remain strategically important to the charity and future activity will be funded from core budgets and planned in line with general spend. 

## 16. Contingent liabilities 

During the year 2022-23, the charity entered into a long-term grant arrangement with the Department of Surgery and Cancer at Imperial College London. The Scientific Advisory Board awarded a grant of £229,999 over 36 months. All grant funding is subject to annual review by the Scientific Advisory Board before each year of funding is released. 

## 17. Commitments under operating leases 

As at 30 June 2023, the charity had the following annual commitments under non-cancellable operating leases. 

||||||**Land & buildings**|
|---|---|---|---|---|---|
|||||**2023**|2022|
|||||**£**|£|
|0|-|1|years|**52,586**|52,586|
|2|-|5|years|**76,934**|234,692|



## 18. Related party transactions 

Donations from trustees and on their behalf of £170,616 (2022: £126,335) were received during 2023. All trustees donated during the year. 

**42 Target Ovarian Cancer** Annual Report 2023 

**Target Ovarian Cancer** Annual Report 2023 **43** 



## 19. Reconciliation of net income/(expenditure) to net cash flow from operating activities 

||**2023**<br>**£**|2022<br>£|
|---|---|---|
|Net income /(expenditure)<br>(as per the statement of fnancial activities)<br>Adjustments for:<br>Depreciation charges<br>Dividends, interest and rents from investment<br>(Increase)/Decrease in debtors<br>Increase/(Decrease) in creditors<br>Net cash provided by/(used in) operating activities<br>20. Analysis of cash at bank and in hand|**(396,364)**<br>**15,818**<br>**(12,163)**<br>**77,662**<br>**(37,708)**<br>**(352,755)**|(223,542)<br>13,393<br>(2,532)<br>(105,427)<br>(42,436)<br>(360,544)|
||**2023**<br>**£**|2022<br>£|
||**1,146,592**|1,500,483|



## 21. SOFA 2021-22 comparator 

**Statement of financial activities** (incorporating an income and expenditure account) 

Charity Number: 1125038 Company Number: 6619981 

## **For the year ended 30 June 2023** 

|Unrestricted<br>Notes<br>£|Unrestricted<br>Notes<br>£|Restricted<br>£|**2022**<br>**£**|2021<br>£|
|---|---|---|---|---|
|**Income from:**<br>Donations & legacies<br>3<br>Investment Income<br>Other income<br>**Total income**<br>**Expenditure on:**<br>Raising funds<br>_Charitable activities_<br>Research<br>Earlier Diagnosis<br>Supportive Services<br>**Total expenditure**<br>4<br>**Net defcit for the year**<br>5<br>**Funds brought forward**<br>**Total funds carried forward**|2,764,485<br>2,532<br>2,767,017<br>1,069,805<br>115,896<br>585,906<br>1,181,015<br>2,952,622<br>(185,605)<br>1,224,267<br>**1,038,662**|503,545<br>0<br>503,545<br>0<br>276,516<br>200,086<br>64,880<br>541,482<br>(37,937)<br>406,253<br>**368,316**|**3,268,030**<br>**2,532**<br>**3,270,562**<br>**1,069,805**<br>**392,412**<br>**785,992**<br>**1,245,895**<br>**3,494,104**<br>**(223,542)**<br>**1,630,520**<br>**1,406,978**|3,886,352<br>3,005<br>3,889,357<br>845,003<br>239,145<br>1,115,261<br>1,288,202<br>3,487,611<br>401,746<br>1,228,774<br>**1,630,520**|



All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 14 to the financial statements. 

**44 Target Ovarian Cancer** Annual Report 2023 

**Target Ovarian Cancer** Annual Report 2023 **45** 



## **Reference and administrative details** 

## **Target Ovarian Cancer** 

## **Bankers** 

Registered charity number 1125038 (England and Wales) and SC042920 (Scotland). 

CAF BANK Ltd 25 Kings Hill Avenue Kings Hill West Malling ME19 4JQ 

A company limited by guarantee, registered in England and Wales (No. 6619981). 

## **Trustees** 

Coutts & Co 440 Strand London WC2R 0QS 

Emma Kane (Chair) Raj Bhogaita (Treasurer) Joanna M. Barker MBE Sonya Branch Alexandra Cran-McGreehin (resigned 20 March 2023) Anabel Fielding Miriam Jordan Keane Shona Spence (resigned 23 February 2023) 

Flagstone Investment Management 17th Floor 

New Zealand House 80 Haymarket London SW1Y 4TE 

## **Chief Executive** 

## **Auditor** 

Annwen Jones OBE 

Haysmacintyre LLP, Statutory Auditors 10 Queen Street Place London EC4R 1AG 

## **Company Secretary** 

Alexine Horsup (resigned 14 December 2022) Annwen Jones OBE (appointed 14 December 2022) 

## **Solicitor** 

Stone King LLP Boundary House 91 Charterhouse Street London EC1M 6HR 

## **Governing document** 

Memorandum and Articles of Association, 13 June 2008. 

New Articles of Association adopted by Special Resolution, 29 December 2011, as amended by Special Resolution, 21 November 2013 and 14 April 2016. 

## **Registered office** 

30 Angel Gate, London, EC1V 2PT 020 7923 5470 info@targetovariancancer.org.uk 

## **www.targetovariancancer.org.uk** 

## **Acknowledgements** 

Carol Kennedy David Lacey June and Robin MacGeachy Nabil and Suzanne Naaman Anna and Chris Smith Sir Hugh and Lady Stevenson 

**Jenny Aston QN** , Advanced Nurse Practitioner and RCGP Nurse Champion 

**The Board of Trustees** 

**wishes to acknowledge the following for their outstanding support of Target Ovarian Cancer during the past year:** 

**Dr Victoria Barber** , GP Principal, Parklands Surgery Northants 

**Dr Nina Craft** , General Practitioner, Woodbrooke Medical Practice, Belfast 

## **Trusts and Foundations** 

Ardeola Charitable Trust The Albert Gubay Charitable Foundation 

**Dr Elise Lang** , General Practitioner and Macmillan GP Cancer Lead for Velindre NHS Trust, Macmillan GP Adviser Wales 

Julia and Hans Rausing The Betty Messenger Charitable Foundation 

## **Celebrity ambassadors** 

Annette Badland Susan Calman Gaby Roslin 

Annette Mills Charitable Trust The Edith Murphy Foundation The Peter Sowerby Foundation The David and Ruth Lewis Family Charitable Trust The John James Bristol Foundation The James Tudor Foundation 

**Dr Charlotte Badescu** , General Practitioner, North West England 

## **Directors Emeriti** 

**Dr Hilary Morrison** , Patient representative 

Lisa Attenborough Margaret Chamberlain 

**Professor Debbie Sharp** , Professor of Primary Health Care, University of Bristol 

## **Honorary patrons** 

## **Scientific Advisory Board** 

Professor Sir Kenneth Calman KBE PhD MD FRCS FRCP Dame Janet Gaymer DBE KC Sarah Greene 

## **Professor Ruth Plummer MBE** 

**(Chair)** , Professor of Experimental Cancer Medicine at the Northern Institute for Cancer Research, Newcastle University 

## **Clinical Advisory Panel** 

**Dr Victoria Barber** , General Practitioner, Kettering 

## **Development Board** 

Joanna Barker MBE (Chair) Lisa Attenborough Helen Benigson Alison Esse Anabel Fielding Emma Kane, Chair of Trustees Dee McCourt 

**Mr Janos Balega** , Consultant Gynaecological Oncologist, Birmingham 

**Professor Richard Edmondson** , Clinical Professor in Gynaecological Oncology, Manchester University 

**Lynn Buckley** , Clinical Nurse Specialist, Hull 

**Dr Ros Glasspool** , Chair of the ovarian cancer sub-group, National Cancer Research Institute, Consultant Medical Oncologist and Honorary Clinical Senior Lecturer, University of Glasgow 

**Professor Richard Edmondson** , Clinical Professor in Gynaecological Oncology, Manchester 

## **Legacies** 

Joachim Atkinson Pamela Bishop Maureen Bradley Judith Childs Angela Gallagher William Hood Margaret Hunter Laura Ann McGregor Katherine Menhennet Alison Ross Micheal Stead 

**Dr Alison Farmer** , Psycho-oncology Nurse Specialist, Southampton 

**Professor Maurizio D’Incalci** , Laboratory of Cancer Pharmacology, Humanitas Research Hospital, Milan 

**Professor Iain McNeish** , Clinical Professor of Gynaecological Oncology, London 

**Dr Rebecca Kristeleit** , Consultant Medical Oncologist, Guy’s and St Thomas’ NHS Foundation 

**Dr Alex Murray** , Cancer Genetics Lead Clinician for the All Wales Medical Genetics Service 

**Professor Chris Lord** , Deputy Head of Division and Leader of the Gene Function Team at The Institute of Cancer Research, London 

## **Patrons’ Circle** 

**Dr Jennifer Pascoe** , Consultant Medical Oncologist, Birmingham 

Jennie Allen Joanna Barker MBE Patricia Beecham Margaret Chamberlain Nicole and Graeme Coll Judy Craymer CBE Anabel Fielding Portia Forte Felicity Howard Allen Adam Jones Emma Kane, Chair of Trustees 

## **Primary Care Advisory Board** 

**Dr Marc Tischkowitz** , Honorary Consultant, Department of Medical Genetics, Cambridge 

**Dr Nigel Sparrow OBE (Chair)** , Former Senior National GP Adviser, Care Quality Commission 

**Dr Sarah Williams** , Consultant Medical Oncologist, Birmingham 

**Miss Beena Abdul** , Consultant Gynaecological Oncology Surgeon, Oxford University Hospital 

**Lisa Young** , Clinical Nurse Specialist, Southampton 

**46 Target Ovarian Cancer** Annual Report 2023 

**Target Ovarian Cancer** Annual Report 2023 **47** 



**If you wish to donate to Target Ovarian Cancer, please visit targetovariancancer.org.uk or call 020 7923 5470.** 



## **Symptoms of ovarian cancer** 


Persistent bloating – not bloating that comes and goes 


Feeling full quickly and/ or loss of appetite 

Pelvic or abdominal pain (that’s your tummy and below) 


Urinary symptoms (needing to wee more urgently or more often than usual) 

**Need someone to talk to about ovarian cancer? Contact our nurse-led support line.** 

**Support line: 020 7923 5475** 

**info@targetovariancancer.org.uk targetovariancancer.org.uk** 

**TargetOvarianCancer @TargetOvarian @TargetOvarian** 

©Target Ovarian Cancer January 2024. Target Ovarian Cancer is a company limited by guarantee, registered in England and Wales (No. 6619981). Registered office: 30 Angel Gate, London EC1V 2PT. Registered charity numbers: 1125038 (England and Wales) and SC042920 (Scotland). 

