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← Target Ovarian Cancer

2024-12-31-accounts

Target Ovarian Cancer Six month report and accounts to 31 December 2024

Target Ovarian Cancer

Report and accounts for the six months ended 31 December 2024 Registered charity number 1125038 (England and Wales) and SC042920 (Scotland)

A company limited by guarantee registered in England and Wales 6619981 targetovariancancer.org.uk

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Target Ovarian Cancer

Six month report and accounts to 31 December 2024

About us ....................................................................................................................................................... 2 A message from the Chair and Chief Executive ...................................................................................... 3 2023-2024 highlights in numbers: ............................................................................................................. 4 Report of the trustees ................................................................................................................................. 5 Objectives and activities......................................................................................................................... 5 Our achievements ................................................................................................................................... 5 Our impact in the last 6 months of 2024 ............................................................................................... 6 Fast Forward new treatments: ............................................................................................................... 6 Fast Forward support: ............................................................................................................................ 7 Influencing for change:........................................................................................................................... 7 Building a community of support: ........................................................................................................... 9 Rising to the challenge ahead .............................................................................................................. 10 Governance, structure and management ........................................................................................... 10 Financial review ..................................................................................................................................... 15 Statement of Trustees’ responsibilities in respect of the Trustees’ annual report and the financial statements .............................................................................................................................. 17 Financial Statements ............................................................................................................................. 21 Notes to the financial statements ......................................................................................................... 24 Reference and administrative details ..................................................................................................... 33 Acknowledgements ................................................................................................................................. 34

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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Target Ovarian Cancer Six month report and accounts to 31 December 2024

A message from the Chair and Chief Executive

Ovarian cancer continues to be one of the most deadly cancers for women, and yet it is one of the least well-known. In the UK, one in seven women diagnosed with ovarian cancer will not survive beyond two months - a heartbreaking statistic we are determined to change. We believe that progress is not only possible, but essential.

This report covers our activities and achievements from July to December 2024 - a transitional six-month period as we align our financial year with our operational calendar by moving to a December year end. During this time, we were delighted to welcome Catherine Hart as our new Chief Executive. Catherine brings deep sector expertise, real ambition, and a passionate commitment to improving outcomes for everyone affected by ovarian cancer. Together, we are excited to shape the next chapter of the charity’s journey, completing our current strategy and laying the groundwork for what comes next.

Despite the shorter timeframe, the past six months have been marked by significant milestones. We launched Let’s Connect, a new peer support initiative spanning England, made possible by funding from the National Lottery Community Fund. We also took bold steps in advocacy, urging the new government to act on our Three Targets to Transform the Future of Ovarian Cancer. Our commitment to inclusivity led to the creation of the OvarView involvement panel, ensuring our support services reflect the diverse needs of our community. We introduced a new education programme for trainee GPs and committed to funding an exciting three-year research project exploring potential immunotherapies for low-grade serous ovarian cancer.

We also bought our community together for some fantastic fundraising events, including our annual Carol Service at the Tower of London and our flagship Ovar-Dressed Walk|Run event in London’s Regents Park. We are deeply grateful to everyone who has fundraised, volunteered, donated, or partnered with us - your support powers our progress. The achievements outlined in this report are a direct result of your generosity, and we simply couldn’t do it without you.

As Chair and Chief Executive, we are immensely proud of what the charity has accomplished over the past six months. Looking ahead to 2025, we are filled with optimism as we begin developing our new strategy under Catherine’s dynamic leadership. Together with our community we will continue to drive change and improve lives.

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Sonya Branch Chair

Catherine Hart Chief Executive

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Target Ovarian Cancer Six month report and accounts to 31 December 2024

2024 highlights in numbers:

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Target Ovarian Cancer Six month report and accounts to 31 December 2024

Report of the trustees

Objectives and activities

We’re targeting what’s important to beat ovarian cancer and stop this devastating disease. We are Target Ovarian Cancer and we work to fast forward diagnosis, treatment and support.

Our achievements

Our achievements
Target Ovarian Cancer’s objectives for 2024 Achievements
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 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 awareness by:
•
Advocate strongly for UK governments to invest in awareness campaigns.
•
Amplifying the experiences of those living with ovarian cancer.		 ✔
✔
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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Target Ovarian Cancer Six month report and accounts to 31 December 2024

Our impact in the last 6 months of 2024

We are relentless in our work to fast forward progress in ovarian cancer.

Working hand-in-hand with our community, partners, healthcare professionals and researchers, we have delivered impact across our three strategic programmes: driving for more women get an early diagnosis , improving access to and developing new treatment options, and reaching more people with the support they need, when they need it.

Fast Forward diagnosis

Early diagnosis of ovarian cancer saves lives: if diagnosed at the earliest stage, nine in 10 women will survive. But we know that too many women are not getting that early diagnosis, because awareness of symptoms is too low, and there are too many delays in getting access to vital diagnostic tests.

We act to ensure more women receive the fastest and earliest possible diagnosis, so they get access to life saving treatment.

In the last 6 months of 2024 we:

Fast Forward new treatments:

New, personalised treatment options for ovarian cancer are key to improving survival.

We act to ensure everyone has access to the very best treatments, equipping women with ovarian cancer to have the information and support they need to discuss their treatment plans, and we invest in translational research that has the potential to lead to more effective treatments in the near future.

In the last 6 months of 2024 we:

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Target Ovarian Cancer

Six month report and accounts to 31 December 2024

Fast Forward support:

We act to ensure everyone affected by ovarian cancer – whether worried about symptoms, managing treatment or supporting a loved one – has the emotional and practical support they need, when they need it.

In the last 6 months of 2024 we:

Influencing for change:

We stand alongside a growing community demanding change in ovarian cancer. Our campaigns have engaged elected representatives and decision makers across all four nations of the UK, sharing the latest evidence, pressing for commitments in national cancer plans, and securing improvements that will make a lasting difference in ovarian cancer awareness, diagnosis and treatment.

In the last 6 months of 2024 we:

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Target Ovarian Cancer

Six month report and accounts to 31 December 2024

Our campaigns network of over 12,000 people continue to make the case for ovarian cancer awareness, diagnosis and support in their constituencies and with their local health teams. Together, we can ensure that action is taken at a national, regional and local level to fast forward progress and ensure everyone gets the best care and treatment.

CASE STUDY:

After the general election in July 2024, we launched our agenda for the new government Three Targets to Transform the Future of Ovarian Cancer.

We urged the new government to take vital action on awareness, diagnosis and treatment, presenting three targets that will transform outcomes for everyone affected by ovarian cancer:

  1. A government funded awareness campaign, including the symptoms of ovarian cancer.

  2. A shorter diagnostic pathway for ovarian cancer, with support and training for GPs.

  3. A funded national cancer plan that ensures everyone can access the best possible treatment, no matter where they live.

Three inspirational campaigners, Sbba, Reeta and Natalie, have been central to the development of the plan, and they all spoke at our launch held in Westminster in October 2024. Sbba shared her experience of her stage three diagnosis, and the severe consequences treatment had on her physical and mental health.

‘In the South Asian community, it just isn’t talked about. If there had been an opportunity for me to learn these symptoms, I could have gone to my GP sooner and could have got an earlier diagnosis. I want to use my voice to fight for those who weren’t given the knowledge that could have saved them.’ Sbba

Reeta told our audience about the devastating delays she experienced, and how she felt she had to fight for her diagnosis.

‘Unfortunately, my story is all too common. Two thirds of women diagnosed with ovarian cancer are diagnosed at a late stage when outcomes are more likely to be worse. Many of them are no longer here to describe their late diagnosis, and I am determined to make sure no woman waits this long for the tests they need’ Reeta

Natalie spoke about her sister Leanne who died just eight days after being diagnosed with ovarian cancer, urging decision makers to take immediate action so no other woman experiences what Leanne did.

‘Cancer is often portrayed as a journey through diagnosis, treatment and recovery. For Leanne there was no journey. I want to give every woman the chance to survive.’ Natalie

The event was attended by MPs including the Minister of State of Public Health and Primary Care as well as members of our campaigning community.

We have already had success with the third target with the government announcing the development of a national cancer plan to be launched in 2025.

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Target Ovarian Cancer Six month report and accounts to 31 December 2024

Ensuring the voices of those affected by ovarian cancer are amplified is essential to securing change, and we will keep working with our dedicated campaigners to make sure that everyone with ovarian cancer gets the best possible diagnosis, treatment and support.

Building a community of support:

We can only deliver our work thanks to the partners, funders, supporters and fundraisers who are tireless in their efforts to raise vital funds for ovarian cancer. It is your support that powers our work and means we can reach even more people when they need us.

In the last 6 months of 2024, together we:

Thank you for your support

Many incredible supporters have gone above and beyond in their fundraising in the last 6 months – a huge thank you for everyone for helping us do more for everyone affected by ovarian cancer.

Janet Gibson

Janet began supporting Target Ovarian Cancer in 2023. She wanted to raise vital funds and awareness after sadly losing her sister, June, to ovarian cancer in January of that year. Janet, alongside her friend Sally and their amazing fundraising committee, organised a coastal walk

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Target Ovarian Cancer Six month report and accounts to 31 December 2024

between Staithes and Sandsend raising over £26,000 as well as helping to raise awareness in their local community.

Bocca’s Legacy - Gill and Frank Williams

After sadly losing their daughter Rebecca (Bocca) to ovarian cancer at the age of 30, Gill and Frank Williams set up ‘Bocca’s Legacy’ to help keep Rebecca’s memory alive. They also wanted to raise awareness of ovarian cancer and raise money to help us target what’s important to the people impacted by ovarian cancer: early diagnosis, research and support.

Over the years they have attended countless craft fairs, organised music nights and concerts and run the Bocca’s Legacy website, with their friends and supporters kindly making and donating items – all in aid of Target Ovarian Cancer. To date they have raised over £40,000 in Rebecca’s memory.

Adam Webber

Adam first got involved with Target Ovarian Cancer after his wife Shelly sadly lost her short battle with ovarian cancer, only 10 months after diagnosis. Along with Shelly’s sister, Kayla, and other close friends, Adam has taken on several challenges to raise funds and awareness, including the Great North Run, London Marathon, and the Three Peaks Challenge, raising almost £20,000 to date. He continues to raise awareness of the symptoms and the importance of early diagnosis through his Facebook page, ‘Running for Shelly’ which has over 800 members.

Rising to the challenge ahead

As we enter the second half of our strategy, we will not rest in pursuit of our goal to double survival by 2050, and to ensure that more women live well with ovarian cancer.

To achieve this, in 2025 we will continue to fast forward progress through:

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 further amended by special resolutions dated 21 November 2013, 14 April 2016 and 12 December 2024.

Charitable objects

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Target Ovarian Cancer Six month report and accounts to 31 December 2024

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

Sonya Branch, Chair, is Executive Director at the Bank of England, with risk custodianship of the Bank’s Legal Directorate and sits on 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 No 10, at the Cabinet Office and DEFRA. Prior to leadership roles across Government, Sonya was a Partner at the global law firm Clifford Chance LLP. In addition to her work with Target Ovarian Cancer, she is a trustee, Chair of the Audit, Risk and Finance Committee of the national charity, NowTeach and a Fellow of the Royal Society of Arts.

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.

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.

Angie Ma is a physicist by training, and brings nearly two decades of experience in science and technology. She co-founded Faculty - Europe’s leading applied AI firm and a world leader in AI safety and responsible AI deployment. Having worked on transforming organisational performance through safe, impactful and human-first AI in the past decade, she is well-versed in navigating the intricacies of technology’s role in driving impact and achieving strategic goals for organisations.

Saswati Mitra brings experience from her role as Director of Research at WhatsApp and a passion for global inclusion and using technology to better connect and serve large populations. This has led her to drive innovation and growth for some of the world’s most innovative companies – Uber, Google, Vodafone, Intel, Nokia and the Bill and Melinda Gates Foundation. Outside of work, Saswati supports children of migrant backgrounds, helping them integrate in society for Family Action. She is on the Board of an upcoming children's theatre (Peut-Être Theatre) and mentors multiple tech and non-tech start-ups, including those in the healthcare sector both in the UK and globally.

Jo Paice is a Clinics Director at Bupa Health Clinics where she has worked for 20 years. Formerly she was Finance Director, having qualified as a chartered accountant at Deloitte. Jo hopes to use her expertise in both finance and the healthcare industry to help the charity achieve its ultimate goal – to save more lives.

Anabel Fielding (resigned 26 March 2025) is a successful entrepreneur and business leader with over 30 years' experience working in music, entertainment and luxury events.

Miriam Jordan Keane (resigned 26 March 2025) is a marketer and communications expert with over 30 years' experience in the UK and international markets.

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Target Ovarian Cancer Six month report and accounts to 31 December 2024

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 and that the Board must have the knowledge and skills required to govern the charity. New trustees are recruited based on the organisation’s needs, and in line with the charity’s policies and processes. Trustees are appointed for a threeyear term, after which they are eligible for re-election for one further three-year term (with the exception of the founding Chair who is permitted to remain in post indefinitely, unless removed by one of the provisions in the Articles of Association).

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, they 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. The Board is committed to continuing to recruit trustees to reflect the diversity of the communities supported by Target Ovarian Cancer.

Trustees receive no remuneration and are only entitled to expenses in line with the charity’s expenses policy. No expenses were claimed in the 6 months ending 31 December 2024 [2023/24: £0].

Charity Governance Code

Target Ovarian Cancer is committed to embedding the highest standards of governance within the charity. The charity has adopted the Charity Governance Code following an internal review and monitors adherence to the Code. Overall the Board is satisfied that the charity’s policies and practices conform to the best practices of governance set out in the Code.

Organisational structure

The Board of Trustees is responsible for setting Target Ovarian Cancer’s strategic objectives, the activities to achieve them and the major policies of the charity. It is responsible for guiding and advising the senior leadership team, monitoring performance and impact, and for identifying and managing the major risks facing the charity. The Board meets four 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 31 December 2024 was 42 [2024 12 months: 42].

Volunteers

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

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Target Ovarian Cancer Six month report and accounts to 31 December 2024

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. Trustees take an active interest in the wellbeing of staff and the senior leadership team ensure career development opportunities as well as taking care to celebrate staff successes.

Diversity, equity and inclusion

Target Ovarian Cancer exists to support everyone affected by ovarian cancer. We recognise the inequities and inequalities faced by many of those we aim to support and know that 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 everyone affected by ovarian cancer.

We are committed to:

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

Principal risks and uncertainties

The Board uses an established risk framework to identify the major foreseeable risks faced by the organisation, assess their likely impact and, where appropriate, implement measures to mitigate these risks.

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

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Target Ovarian Cancer

Six month report and accounts to 31 December 2024

2) Inability to recruit and retain key staff

The Board has reviewed the charity’s major risks and is satisfied that appropriate actions have been taken, and that appropriate systems and mitigations are in place to manage these risks on a continual basis.

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 has a diverse fundraising portfolio, offering a range of ways for supporters to contribute to our success with a financial gift. The charity always applies the highest standards when interacting with supporters, including careful, individualised and appreciative stewardship of key donors, and remains deeply grateful for every gift received.

We comply with all best practice standards including the Fundraising Regulator’s Code of Fundraising Practice and the Institute of Fundraising’s ‘Treating donors fairly’ guidance which looks particularly at the needs of vulnerable people, as do any third parties contracted on the charity’s behalf. Our safeguarding policy includes procedures for the safeguarding of vulnerable donors and is reviewed on a regular basis by our safeguarding lead, supported by our safeguarding panel. The charity also has agreed policies in place on the acceptance and refusal of donations and working with corporate partners, to ensure that it acts in a legal and compliant way at all times, which are carefully adhered to.

We ensure that our staff, volunteers and third parties acting on our behalf are aware of our fundraising approach. No complaints were received in the period to 31 December 2024 [2023/24: 0].

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Target Ovarian Cancer Six month report and accounts to 31 December 2024

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: Northern Ireland Cancer Coalition; Association of Medical Research Charities (member); British Gynaecological Cancer Society; Medical Research Council; NHS Digital; National Institute of Health and Care Excellence (NICE); 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, Annwen Jones OBE (the charity’s Chief Executive until 11 November 2024) was appointed Chair of the World Ovarian Cancer Coalition, and in December 2024 she became a Director after her term as Chair came to an end.

Financial review

The figures presented in the accounts relate to the 6 months from July to December 2024 - a transitional six-month period as we align our financial year with our operational calendar by moving to a December year end. Our fundraising income for the 6 month period was £1.42m, 57 per cent less than in the prior 12 month period [2024 12 months: £3.29m] due to the shorter time period, and the fact that legacy accruals were lower at December than they were at the June period end. Total income including donated services was £1.69m – 61 per cent lower than the prior 12 month period for the same reasons as above [2024 12 months: £4.4m].

We spent £1.6m in the 6 month period to 31 December, 52 per cent less than in the prior year [2024 12 months: £3.9m], again due to the shorter time period. In addition to our spending, in the 6 month period we also secured donated services worth £277k [2024 12 months: £1.07m] – mainly billboard space which raised awareness of the symptoms of ovarian cancer and our supportive services.

Reflecting the figures above, the charity made a surplus of £115k [2024 12 months: surplus of £532k] which will be invested strategically in future periods. This surplus took the charity from opening total reserves of £1.54m to closing total reserves at the end of December 2024 of £1.66m, of which £1.39m were unrestricted, comfortably within our reserves policy.

Income

Our total income, including donated services, was £1.69m for the 6 month period [2024 12 months: £4.4m] – down 61 per cent due to the shorter period, and lower values of legacy accruals at December, and an £815k reduction in donated services (which we recognise in the accounts by adding the value of the services to both our income and expenditure in line with charity accounting standards). These services are primarily billboard and media advertising space, which supports the charity to achieve one of its key objectives to ensure that as many people as possible are aware of the symptoms of ovarian cancer, and that the charity is here to support them. We remain extremely grateful for the generous pro bono support of our corporate and media partners.

Our fundraising income for the 6 month period was £1.42m, 57 per cent less than in the prior 12 month period [2024 12 months: £3.29m] for the reasons above. To illustrate the legacies point, in the previous 12 month period the charity recognised £924k in legacies, compared to £266k in the current 6 month period. Much of both of these amounts had not been received as cash before the year end, but the funds will be spent in line with the charity’s strategy when they are

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Target Ovarian Cancer Six month report and accounts to 31 December 2024

received. 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 spent £1.6m in the 6 month period to 31 December, 52 per cent less than in the prior year [2024 12 months: £3.9m], again due to the shorter time period.

In addition to our spending, in the 6 month period we also secured donated services worth £277k [2024 12 months: £1.07m] – mainly billboard space which raised awareness of the symptoms of ovarian cancer and our supportive services. 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. Our expenditure excluding donated services also decreased by 52 per cent to £2.80m [2024 12 months: £2.80m] due to the shorter period.

The expenditure related to donated advertising and billboard space for 2023/24 was split between early diagnosis and supportive services given that these gifts enabled us to grow awareness of the symptoms of ovarian cancer, and to direct people to our supportive services. Excluding donated services our expenditure on early diagnosis decreased by 54 per cent to £334k [2024 12 months: £731k] while expenditure on our supportive services of £445k decreased by 51 per cent [2024 12 months: £906k], again reflecting the factors above.

Our expenditure on research of £67k decreased by 32 per cent [2024 12 months: £99k], due to the phasing of our research programme.

The charity’s spend on fundraising decreased by 54 per cent to £492k [2024 12 months: £1.07m] also due to the shorter period. The senior leadership team and the Board of Trustees continue to ensure that our fundraising expenditure generates an appropriate return and maximises 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.

The Board of Trustees has agreed a policy to hold a minimum of three months of salary costs and six months of rent and support costs in unrestricted funds. The total of these amounts at 31 December 2024 gives a target minimum unrestricted reserves figure of £630k, which the charity’s closing unrestricted reserves of £1.39m fully complies with.

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 31 December 2024 restricted funds amounted to £269k [2024 12 months: £287k].

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 longterm 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.

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Target Ovarian Cancer Six month report and accounts to 31 December 2024

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

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

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.

Approved by the trustees on 27[th] August 2025 and signed on their behalf by:

Sonya Branch Chair, Board of Trustees

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Target Ovarian Cancer Annual report and accounts to 31 December 2024

Independent Auditor’s Report to the Trustees and Members of Target Ovarian Cancer

Opinion

We have audited the financial statements of Target Ovarian Cancer (the ‘charitable company’) for the period ended 31 December 2024 which comprise of the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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 responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

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

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

18

Target Ovarian Cancer Annual report and accounts to 31 December 2024

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:

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 strategic report or the directors’ report included within the trustees' report.

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

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, 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 responsibilities for the audit of the financial statements

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

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of 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:

19

Target Ovarian Cancer Annual report and accounts to 31 December 2024

We gained an understanding of the legal and regulatory framework applicable to the Charity and the sector in which it operates and considered the risk of the Charity not complying with the relevant laws and regulations including fraud in particular those that could have a material impact on the financial statements. This included those regulations directly related to the financial statements, including financial reporting, and tax legislation. In relation to the operations of the Charity this included compliance with the Charities Act 2011, SORP 2019 and Charities and Trustee Investment (Scotland) Act 2025.

The risks were discussed with the audit team and we remained alert to any indications of non-compliance throughout the audit. We carried out specific procedures to address the risks identified. These included the following:

Reviewing minutes of Board meetings, reviewing any correspondence with the Charity Commission, agreeing the financial statement disclosures to underlying supporting documentation, enquiries of management and officers of the Charity and a review of the risk management processes and procedures in place. We have also reviewed the procedures in place for the reporting of any incidents to the Trustee Board including serious incident reporting of these matters as necessary with the Charity Commission.

Management override: To address the risk of management override of controls, we carried out testing of journal entries and other adjustments for appropriateness. We reviewed systems and procedures to identify potential areas of management override risk.

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 is available on the FRC's website at: https://www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-thefi/description-of-the-auditor%E2%80%99s-responsibilities-for. This description forms part of our auditor’s report.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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, and to the charitable company’s trustees, as a body, in accordance with 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 and trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Michael Cooper-Davis (Senior Statutory Auditor) For and on behalf of Price Bailey LLP Chartered Accountants Statutory Auditors

3rd Floor, 24 Old Bond St, Mayfair, London

17 September 2025

20

Target Ovarian Cancer Annual report and accounts to 31 December 2024

Financial Statements

Charity Number: 1125038 Company Number: 6619981

STATEMENT OF FINANCIAL ACTIVITIES

STATEMENT OF FINANCIAL ACTIVITIES STATEMENT OF FINANCIAL ACTIVITIES Charity Number: 1125038 Charity Number: 1125038
(incorporating an income and expenditure account)
For the 6 monthperiod ended 31 December 2024		 Company Number: 6619981
Notes
Income from:
Donations, grants &
legacies
3
Investment Income
Total income
Expenditure on:
Raising funds
Charitable activities
Research
Earlier Diagnosis
Supportive Services
Total expenditure
4
Net surplus/(deficit) for the
year
5
Funds brought forward
Transfers
Total funds carried forward		 Unrestricted
£
1,580,680
12,881
_
1,593,561
491,507
-
430,886
537,810
_
1,460,203
133,358
1,254,330
-
1,387,688		 Restricted
£
113,144
-
_
113,144
-
67,540
30,000
34,016
_
131,556
(18,412)
287,779
-
269,367		 6 months
2024
£
1,693,824
12,881
1,706,705
491,507
67,540
460,886
571,826
___
1,591,759
114,946
1,542,109
-
1,657,055		 12 months
2024
£
4,381,584
22,186
4,403,770
1,067,745
99,263
1,265,461
1,439,806
3,872,275
531,495
1,010,614
-
1,542,109

All of the above results are derived from continuing activities. There were no 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 2023 can be seen in Note 21.

21

Target Ovarian Cancer Annual report and accounts to 31 December 2024

BALANCE SHEET Charity Number: 1125038
Company Number: 6619981
As at 31 December 2024
6 months 12 months
2024 2024
Note £ £ £ £
Fixed assets
Tangible fixed assets 9 14,107 11,728
Current assets
Debtors 10 1,254,231 1,016,171
Cash at bank and in hand 11 585,436 774,203
1,839,667 1,790,374
Liabilities
Creditors: amounts due within one year 12 (196,719) (259,993)
Net current assets 1,642,948 1,530,381
Total assets less current liabilities 1,657,055 1,542,109
Net assets 14 1,657,055 1,542,109
Funds 14
Restricted funds 269,367 287,779
Unrestricted funds 1,387,688 1,254,330
Total charity funds 1,657,055 1,542,109

The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

Approved by the Trustees on 27[th] August 2025 and signed on their behalf by:

Sonya Branch - Chair

Raj Bhogaita - Treasurer

The notes on pages 24 - 32 form part of the Financial Statements.

22

Target Ovarian Cancer Annual report and accounts to 31 December 2024

STATEMENT OF CASH FLOWS

STATEMENT OF CASH FLOWS
for the 6 monthperiod ending 31 December 2024 6 months
2024
12 months
2024
£
£
(196,648)
(394,575)
12,881
22,186
(5,000)
-
7,881
22,186
(188,767)
(372,389)
774,203
1,146,592
585,436
774,203
6 months
2024
Cash flow
movement
12 months
2024
£
£
£
585,436
(188,767)
774,203
(196,719)
63,274
(259,993)
Note
Cash provided by (used in) operating activities
19
Cash flows from investing activities
Dividends, interest and rents from investment
Purchase of property, plant and equipment
Cash provided by (used in) investing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the year
20
Cash and cash equivalents at end of year
Note
Analysis of changes in net debt
Cash and cash equivalents
11
Debt due within one year
12
Total
388,717
(125,493)
514,210

23

Target Ovarian Cancer Annual report and accounts to 31 December 2024

Notes to the financial statements

For the 6 month period ended 31 December 2024

1. Accounting policies

24

Target Ovarian Cancer

Annual report and accounts to 31 December 2024

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.

25

Target Ovarian Cancer Annual report and accounts to 31 December 2024

NOTES TO THE FINANCIAL STATEMENTS

For the 6 month period ended 31 December 2024

3 Donations & legacies
Legacies
Gifts from individuals and trusts
General donations
Corporate donations
Subtotal
Donated services
TOTAL
Gifts in Kind
Professional Services
Web advertising
Outdoor advertising space
Other advertising space
TOTAL		 Unrestricted
Restricted
TOTAL 6
months
2024
TOTAL 12
months
2024
£
£
£
£
266,089
-
266,089
924,266
452,365
112,686
565,051
1,063,033
539,878
458
540,336
1,206,374
45,348
-
45,348
96,402
1,303,680
113,144
1,416,824
3,290,075
277,000
-
277,000
1,091,509
1,580,680
113,144
1,693,824
4,381,584
23,993
-
23,993
23,992
48,487
-
48,487
90,042
-
-
-
896,354
204,520
-
204,520
81,121
277,000
-
277,000
1,091,509
Legacies
Gifts from individuals and trusts
General donations
Corporate donations
Subtotal
Donated services
TOTAL
Gifts in Kind
Professional Services
Web advertising
Outdoor advertising space
Other advertising space
TOTAL		 Unrestricted
Restricted
TOTAL 12
months
2024
TOTAL 2023
£
£
£
£
924,266
-
924,266
270,994
852,633
210,400
1,063,033
928,542
1,161,821
44,553
1,206,374
1,479,283
94,902
1,500
96,402
62,174
3,033,622
256,453
3,290,075
2,740,993
1,091,509
-
1,091,509
1,270,506
4,125,131
256,453
4,381,584
4,011,499
23,992
-
23,992
-
90,042
-
90,042
117,752
896,354
-
896,354
848,099
81,121
-
81,121
304,655
1,091,509
-
1,091,509
1,270,506

Of Gifts in kind totalling £277,000, £253,006 relate to publicity of the symptoms of ovarian cancer to encourage earlier diagnosis (£126,503) and publicity of our services to women with ovarian cancer (£126,503) 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.

26

Target Ovarian Cancer Annual report and accounts to 31 December 2024

4. Total expenditure

Total expenditure
TOTAL 6 TOTAL 12
Fundraising Research Earlier Supportive months months
& Publicity Diagnosis Services 2024 2024
£ £ £ £ £ £
Staff costs 256,252 23,135 194,082 275,399 748,868 1,535,153
Direct costs 153,508 37,025 10,901 37,078 238,512 509,968
Advocacy - - 51,163 34,109 85,272 183,838
Support Costs 81,747 7,380 78,236 98,736 266,099 575,800
Subtotal 491,507 67,540 334,382 445,322 1,338,751 2,804,759
Donated services - - 126,504 126,504 253,008 1,067,516
TOTAL 491,507 67,540 460,886 571,826 1,591,759 3,872,275

Support costs includes £116,183 of staff costs (2024 (12 months): £235,538), and the Advocacy line also includes £85,272 of staff costs. Total staff costs are £950,322 (2024 (12 months): £1,954,529) as disclosed in Note 6. The approach to valuation of donated services is consistent with the prior year.

12
Analysis of Support 6 months months
Costs 2024 2024
£ £
Staff costs 116,183 235,538
Governance costs 29,093 57,700
Office costs 107,847 245,918
Legal & professional 10,093 20,712
Depreciation 2,883 15,932
TOTAL 266,099 575,800

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:
Depreciation
Operating lease rentals: Property
Auditors' remuneration:		 6 months
2024
£
2,621
26,334
18,900
47,855		 12 months
2024
£
13,049
96,798
33,300
143,147

No trustees reclaimed expenses in 2024 (2024 12 months £0). No trustees have been paid any remuneration or received any other benefits from an employment or a related entity (2024 12 months £0). During the six months, donations of £170,950 were received from related parties (2024 12 months £165,524).

6. Staff costs and numbers

Staff costs were as follows:
Salaries and wages
Social security costs
Pensions
Total emoluments paid to staff were:		 6 months
2024
£
823,371
87,198
39,753
950,322		 12
months
2024
£
1,696,251
181,029
77,249
1,954,529

The key management personnel of the charity comprises the trustees, the Chief Executive, the Deputy Chief Executive, the Director of Finance & Corporate Services, the Director of Development, the Director of Communications and the Deputy Director of Services. The total employee benefits of the key management personnel of the charity were £267,752 (2024 12 months: £496,977).

27

Target Ovarian Cancer Annual report and accounts to 31 December 2024

In the 6 months to 31 December 2024 no employee earned between £90,001 and £100,000 (2024 12 months: one). Pension costs relating to this employee were £NIL (2024 12 months: ££4,757). In the 6 month period no employee earned between £80,001 and 90,000 (2024 12 months: one). In the 6 month period no employee earned between £70,001 and 80,000 (2024 12 months: two).

Fundraising
Research
Supportive Services
Earlier Diagnosis
Advocacy
Governance
Support		 No.
11.8
0.7
12.8
7.9
3.7
1.2
4.1
42.2		 No.
11.8
0.7
12.8
7.9
3.7
1.2
4.1
42.2

At 31 December 2024 the charity employed 42 staff (2024 12 months: 42 staff). The average number of staff in the year was 45 (2024: 45).

7.

Grant making
Research Grants
Costs of managing the grant making
programme		 6 months
2024
£
35,683
31,857		 12
months
2024
£
13,737
85,527

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.

9.

Tangible fixed assets
Furniture, fixtures and equipment
Cost
At the start of the year
Additions in the year
At the end of the year
Depreciation
At the start of the year
Charge for the year
At the end of the year
Net book value
At the end of the year
At the start of the year		 2024
£
243,321
5,000
248,321
231,593
2,621
234,214
14,107
11,728		 12 months
2024
£
243,321
-
243,321
218,544
13,049
231,593
11,728
24,777

28

Target Ovarian Cancer Annual report and accounts to 31 December 2024

10.
Debtors
Prepayments
Other debtors		 6 months
2024
£
55,456
1,198,775
1,254,231		 12 months
2024
£
31,003
985,168
1,016,171

11. Cash at bank and in hand

Current accounts
Short term bank deposits		 6 months
2024
£
205,541
379,895
585,436		 12 moths
2024
£
505,527
268,676
774,203

12. Creditors and accruals

Creditors and accruals
Trade creditors
Deferred income
Grants payable
Taxation and social security
Accrued expenditure		 Amounts due within one year
6 months
2024
12
months
2024
£
£
36,731
44,680
20,000
-
23,096
98,866
39,180
39,808
77,712
76,639
196,719
259,993		 Amounts due within one year
6 months
2024
12
months
2024
£
£
36,731
44,680
20,000
-
23,096
98,866
39,180
39,808
77,712
76,639
196,719
259,993
259,993

There were no creditors due after one year.

Deferred income
Opening deferred income
Released in the accounting period
Deferred to future periods
Closing deferred income
Analysed as deferred income falling due
Within one year
After one year


Grants Payable at 1st July 2024
Grants awarded
Grantpayments made inyear
Grant write-backs in theyear		 6 months
2024
£
-
-
20,000
20,000
20,000
-
98,866
48,752
(111,452)
(13,070)
23,096		 12
months
2024
£
5,434
(5,434)
-
-
5,434
-
Total Grants Outstanding at 31 December
2024

29

Target Ovarian Cancer Annual report and accounts to 31 December 2024

13.
Financial Instruments
Cash
Financial assets held at amortised cost
a)
Financial liabilities held at amortised cost
b)
Net financial assets		 6 months
2024
12
months
2024
£
£
585,436
774,203
1,147,770
952,951
(23,096)
(98,866)
1,710,110
1,628,288

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

14.

2024
Tangible fixed assets
Current assets
Current liabilities
Net assets at the end of the
year
2024
Tangible fixed assets
Current assets
Current liabilities
Net assets at the end of the
year
Movements in funds to
31 December 2024
Restricted funds:
Supportive Services
Research Programme
Earlier diagnosis
NLCF Peer Support
Total restricted funds
Total unrestricted funds
Total funds		 Unrestricted
Funds
£
14,107
1,547,204
(173,623)
1,387,688
Unrestricted
Funds
£
11,728
1,403,729
(161,127)
1,254,330
At the start
of the year
£
-
287,779
-
-
287,779
1,254,330
1,542,109		 Restricted
Funds
£
-
292,463
(23,096)
269,367
Restricted
Funds
£
-
386,645
(98,866)
287,779
Income
£
23,783
707
30,000
58,654
113,144
1,593,561
1,706,705		 Total funds
6 months
2024
£
14,107
1,839,667
(196,719)
1,657,055
Total funds
12 months
2024
£
11,728
1,790,374
(259,993)
1,542,109
Expenditure
£
(23,783)
(67,540)
(30,000)
(10,233)
(131,556)
(1,460,203)
(1,591,759)		 Transfers
£
-
-
-
-
-
-
-		 -
At the end
of the year
£
-
220,946
-
48,421
269,367
1,387,688
1,657,055

30

Target Ovarian Cancer Annual report and accounts to 31 December 2024

14.
Movements in funds to
30 June 2024
Restricted funds:
Supportive Services
Research Programme
Earlier diagnosis
Total restricted funds
Total designated Funds
Total unrestricted funds
Total funds
Purpose of funds
Supportive Services
Research Programme
Earlier diagnosis		 At the start
of the year
Income
Expenditure
Transfers
£
£
£
£
-
57,400
(57,400)
-
205,489
181,553
(99,263)
-
10,000
17,500
(27,500)
-
215,489
256,453
(184,163)
-
-
-
-
795,125
4,147,317
(3,688,112)
-
1,010,614
4,403,770
(3,872,275)
-
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.		 At the end
of the year
£
-
287,779
-
__
287,779
-
1,254,330
1,542,109		 At the end
of the year
£
-
287,779
-
__
287,779
-
1,254,330
1,542,109

15. Contingent assets

During the period, the charity was aware of a legacy gift for which the total value to be received remains uncertain at the date of these accounts being signed. A first interim payment (a partial amount paid to the charity while tax affairs and estate administration are finalised) received during 2025 was accrued back to the prior 12 month period ending 30 June 2024. No further accrual has been made in these accounts as it is not yet possible to quantify the final total value of the gift.

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 31 December 2024, the charity had the following annual commitments under non-cancellable operating leases.

0 - 1 years
2 - 5 years		 Land & buildings
6
months
2024
12
months
2024
£
£
52,586
52,586
-
76,934

18. Related party transactions

Donations from trustees and on their behalf of £170,600 (2024 12 months: £165,524) were received during the six months to 31 December 2024.

19.

Reconciliation of net income/(expenditure) to net cash flow
from operating activities
Net income /(expenditure) (as per the statement of
financial activities)
Adjustments for:
Depreciation charges
Dividends, interest and rents from investment
(Increase)/Decrease in debtors
Increase/(Decrease) in creditors
Net cash provided by/(used in) operating activities		 6 months
2024
£
114,946
2,621
(12,881)
(238,060)
(63,274)
(196,648)		 12 months
2024
£
531,495
13,049
(22,186)
(806,437)
(110,496)
(394,575)

31

Target Ovarian Cancer Annual report and accounts to 31 December 2024

20.
Analysis of cash at bank and in hand
21.
SOFA 2023-24 comparator
STATEMENT OF FINANCIAL ACTIVITIES
(incorporating an income and expenditure account)
For the year ended 30 June 2024		 20.
Analysis of cash at bank and in hand
21.
SOFA 2023-24 comparator
STATEMENT OF FINANCIAL ACTIVITIES
(incorporating an income and expenditure account)
For the year ended 30 June 2024		 2024
£
585,436
Charity Number: 1125038
Company Number: 6619981		 2024
£
585,436
Charity Number: 1125038
Company Number: 6619981		 2024
£
774,203
Notes
Income from:
Donations & legacies
3
Investment Income
Other income
Total
Income
Expenditure on:
Raising funds
Charitable activities
Research
Earlier Diagnosis
Supportive Services
Total expenditure
4
Net deficit for the year
5
Funds brought forward
Transfers
Total funds carried forward		 Unrestricted
£
4,125,131
22,186
4,147,317
1,067,745
-
1,237,961
1,382,406
3,688,112
459,205
795,125
-
1,254,330		 Restricted
£
256,453
-
256,453
-
99,263
27,500
57,400
184,163
72,290
215,489
-
287,779		 2024
£
4,381,584
22,186
4,403,770
1,067,745
99,263
1,265,461
1,439,806
3,872,275
531,495
1,010,614
-
1,542,109		 2023
£
4,011,499
12,163
4,023,662
1,157,696
147,597
1,458,792
1,655,941
4,420,026
(396,364)
1,406,978
-
1,010,614

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.

32

Target Ovarian Cancer Annual report and accounts to 31 December 2024

Reference and administrative details

Target Ovarian Cancer

Registered charity number 1125038 (England and Wales) and SC042920 (Scotland). A company limited by guarantee, registered in England and Wales (No. 6619981).

Trustees

Sonya Branch (Chair) Raj Bhogaita (Treasurer) Joanna M. Barker MBE Angie Ma Saswati Mitra Jo Paice Anabel Fielding (resigned 26 March 2025) Miriam Jordan Keane (resigned 26 March 2025)

Chief Executive

Annwen Jones OBE (resigned 11 November 2024, employed for handover until 28 November 2024) Catherine Hart (appointed 11 November 2024)

Company Secretary Kate Martin

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, 14 April 2016, 12 December 2024.

Registered office

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

Bankers

National Westminster Bank Plc 250 Bishopsgate London EC2M 4AA

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

Coutts & Co 440 Strand London WC2R 0QS

Flagstone Investment Management 17th Floor New Zealand House 80 Haymarket London SW1Y 4TE

Auditor

Price Bailey 3rd Floor 24 Old Bond St Mayfair London W1S 4AP

www.targetovariancancer.org.uk

Solicitor

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

33

Target Ovarian Cancer Annual report and accounts to 31 December 2024

Acknowledgements

The Board of Trustees wishes to acknowledge the following for their outstanding support of Target Ovarian Cancer during the past 6 months:

Celebrity ambassadors Annette Badland

Directors Emeriti Emma Kane Lisa Attenborough Margaret Chamberlain

Patrons’ Circle Joanna Barker MBE Patricia Beecham Margaret Chamberlain Nicole and Graeme Coll Portia Forte Felicity Howard Allen Adam Jones Emma Kane Carol Kennedy June and Robin MacGeachy

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

Trusts and Foundations The Ardeola Charitable Trust David and Ruth Lewis Family Charitable Trust The Annette Mills Charitable Trust The National Lottery Community Fund The Steel Charitable Trust Garfield Weston Foundation

Former CEO Annwen Jones

Scientific Advisory Board Primary Care Advisory Board
Professor Fiona Thistlethwaite (Chair) from
Dec 2023, Medical Oncology Consultant, The
Christie, Honorary Professor of Experimental
Immunotherapy, University of Manchester, Clinical
Director of Manchester CRF, The Christie.		 Dr Nigel Sparrow OBE (Chair),Former Senior
National GP Adviser, Care Quality Commission
Professor Chris Lord, Deputy Head of Division
and Leader of the Gene Function Team at The
Institute of Cancer Research, London		 Miss Beena Abdul, Consultant Gynaecological
Oncology Surgeon, Oxford University Hospital
Sadie Jones(from Aug 2024), Consultant
Gynaecology Oncology Surgeon and Clinical
Research Fellow, Cardiff University		 Jenny Aston QN,Advanced Nurse Practitioner
and RCGP Nurse Champion
Dr Rowan Miller(from Aug 2024), consultant
medical oncologist, University College London and
St Bartholomew's Hospitals.		 Dr Victoria Barber, General Practitioner,
Northamptonshire
Professor Sadaf Ghaem-Maghami(from Aug
2024), Professor of Gynaecological Oncology,
Department of Surgery & Cancer - Faculty of
Medicine, Imperial College London		 Dr Nina Craft, General Practitioner, Woodbrooke
Medical Practice, Belfast
Professor Richard Edmondson(to Oct 2024),
Clinical Professor in Gynaecological
Oncology, Manchester University		 Dr Elise Lang,General Practitioner and
Macmillan GP Cancer Lead for Velindre NHS
Trust, Macmillan GP Adviser Wales
Professor Maurizio D'Incalci(to October 2024),
Laboratory of Cancer Pharmacology, Humanitas
Research Hospital, Milan		 Dr Charlotte Badescu,General Practitioner,
North West England

34

Target Ovarian Cancer Annual report and accounts to 31 December 2024

Dr Hilary Morrison, Patient representative Professor Debbie Sharp, Professor of Primary Health Care, University of Bristol

Thank you to the dedicated professionals and groups who have helped deliver our services and health improvement projects this :

Find out more and join us in our mission to stop ovarian cancer devastating lives

targetovariancancer.org.uk 020 7923 5470 info@targetovariaincancer.org.uk

Symptoms of ovarian cancer

Need someone to talk to about ovarian cancer? Contact our nurse-led support line Phone: 020 7923 5475 Website: targetovariancancer.org.uk/SupportLine

©Target Ovarian Cancer July 2025

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).

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