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2022-12-31-accounts

UROLOGYFOUNDATION (\

THE UROLOGY FOUNDATION TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS DECEMBER 2022

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Contents

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The Urology Foundation annual report & financial statements 2022 ()

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Statement from the Chair

Overview of the year

Welcome to our Annual Report for 2022.

As the UK’s only charity representing the entire spectrum of urology health and disease, from the urological cancers - prostate, kidney, bladder and male reproductive cancers - to non-malignant conditions including incontinence, urinary tract infections and kidney stones, we are incredibly proud of our commitment to ensuring patients and their families experience improved outcomes and live longer, with a better quality of life.

1 in 2 people will suffer from a urological disease or condition in their lifetime. This health burden is already having a significant impact on the mental, emotional, social and physical well-being of millions of men, women and children in the UK and this figure continues to rise. We are committed to improving outcomes, ending suffering and saving lives through investment in world class research, technical skills training, development and adoption of innovative technologies and practices, education programmes, raising public awareness and campaigning for policy improvement.

This has been an exceptionally busy year for the Foundation. We awarded seven new Research and Innovation Projects and four Small Project Grants covering kidney, bladder, penile and prostate cancers, urinary tract infections, female reconstructive surgery and recovery after paediatric urology surgery. These projects take us one step closer to making a significant step change in the delivery of urological care and to changing the lives of current and future generations of patients.

Alongside research we invested in our scientific and medical communities through training and career development opportunities; supporting urology colleagues and encouraging the “rising stars” in the field. In particular, our Travel Fellowships enabled trainee urologists to further their own development, experience new horizons in urological care and to undertake teaching opportunities across the globe. Our “Power of Successful Communication” course brought together nursing professionals to explore ways in which to enhance their public speaking skills and facilitate successful communication with colleagues, patients and their families. Awareness of urology falls far behind other health and disease areas and we remain committed to ensuring these cancers and conditions receive the recognition they deserve. We work to challenge taboos and stigmas and raise awareness of potential warning signs and symptoms, as early diagnosis can have a significant impact on outcomes. Throughout the year we were involved in campaigns and awareness events, presented at conferences and teaching days, met with decision makers and influencers and worked with a wide range of stakeholders to raise awareness of urological cancers and conditions and drive improvements in patient care. Highlights included the annual Urology Awareness Month, a Parliamentary Reception highlighting the importance of patient choice and an Early Day Motion for MPs.

Working with the UK’s leading scientists, clinicians, nurses and allied health professionals, influencers and decision makers, charity partners, supporters, patients and their families, we are proud of the progress we have made and the success we have achieved this year.

Building on these achievements, we are excited to be setting out our goals for the future and will launch our new three-year strategy ‘The Way Ahead 2023-2025’ next year. Ensuring patients and their families have better outcomes, live longer and with a better quality of life remains at the heart of our work.

Mary Garthwaite, Chair

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Statement from the Chief Executive, Rebecca Porta

| was delighted to join the Urology Foundation as its Chief Executive at the beginning of 2022.

My involvement with The Urology Foundation first began in 2009 and over the years |’ve had the privilege of working closely with the Trustees, staff and supporters. | have seen the impact of the Foundation’s work and the difference it has made to the lives of patients and their families.

This is the start of an important and exciting journey. Building on our knowledge, expertise and achievements we have an opportunity to make a significant step change in urology. With the support of our stakeholders - the scientific and clinical community, nurses and allied health professionals, patients and their families, volunteers, decision makers and influencers, charity partners and of course our incredible supporters - we can and will improve the outlook for people affected by urological cancers and conditions ensuring they have better outcomes and a better quality of life. During the year we took the opportunity to consult with our stakeholders to identify priorities for the future. Investment in world class research, supporting our clinical and scientific community and the next generation of researchers, training and education programmes, driving and improving standards of care and raising awareness were key issues and we look forward to taking these forward as part of our new strategy, The Way Ahead 2023-2025.

People diagnosed and living with urological cancers and conditions need information, support and interventions that will help them. It is essential that we listen to their needs, work collaboratively and adaptably, across and between professional boundaries, share competencies and knowledge, campaign for research investment and remain committed to making a change. Together we can ensure that patients and their families have better outcomes, live longer, and with a better quality of life.

| hope that you will join me in this important and exciting journey.

Chief Executive

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The Urology Foundation annual report & financial statements 2022

Objectives and Activities

The Urology Foundation’s objects are to:

“Advance, promote, encourage, develop and improve the study and knowledge of urology, urological surgery and the general knowledge of science and medicine and all matters relating to the progress and development of that branch of science and medicine and for that purpose to fund, aid, maintain and endow scholarships, fellowships, chairs and bursaries and generally to assist in the funding, instruction and support of persons and institutions engaged or involved in urological research work.”

Our Vision and Mission

We see a world where people will not die early from urological cancers and conditions and where people with bladder, kidney and prostate problems can still lead full, active and productive lives.

Our mission is to improve survival and quality of life for urology patients through research and training, so patients receive the best possible treatment and care and fewer lives are devastated.

Our Aims

The Urology Foundation is committed to reducing the suffering caused by urological diseases. We work with researchers, urology and health care professionals to improve the diagnosis, treatment and management of urological disease and the nation’s urology care.

We rely on donations from individuals, trusts and foundations, and from companies to help fund our work. The money we raise is invested directly into research to find better treatments and cures, and in training for urology professionals to improve care for and help people affected by urology conditions.

The Foundation is governed by the rules and regulations set down in its company memorandum and articles of association originally dated 12 February 2009 and last updated by a special resolution on 29 June 2009.

Our Values

In undertaking our remit we are:

What we do

We seek to improve patient treatment and care through investing in world class research, education and training programmes, raising awareness and driving change in policy. We fund research that increases our understanding of urological cancers and conditions and that can bring about change in urology practice and guidelines for the benefit of patients and their families. We are also looking for ways that can make treatments more effective and kinder. We are driving improvement in standards in urology practice through training and we are developing the next generation of urological experts who can meet the challenge of the increased burden of disease and who put excellence of care at their core.

Awareness campaigns such as Urology Awareness Month in September bring urological cancers and conditions to the public eye, breaking the stigma and taboos associated with these diseases and

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conditions and encouraging people to seek an early diagnosis where they may be concerned about potential early warning signs and symptoms.

Public Benefit

The Trustees have taken The Charity Commission’s general guidance on public benefit into consideration in preparing their statements on public benefit contained within this trustees’ annual report. In accordance with its charitable objectives, The Foundation gives grants to individuals and not-for-profit organisations to:

In addition, the charity provides information on its website on urological cancers and conditions, and raises awareness through social media channels and media such as press and radio.

Grants policy

The Foundation advertises its programmes and awards on its website and via social media, through its professional e-newsletter and networks. Applications for research are assessed by an independent Scientific and Education Committee (SEC) and Review Panel.

The charity is a member of the Association of Medical Research Charities (AMRC) and abides by its standards and guidelines for peer review and funding. It is also a National Institute for Health Research (NIHR) Non-commercial Partner. Research studies funded through our NIHR approved funding streams are automatically eligible for consideration for NIHR Clinical Research Network (CRN) support subject to meeting the standard study eligibility criteria.

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The Urology Foundation annual report & financial statements 2022

Achievements and Performance in 2022

1. Our Research Programme

Research plays a key role in helping us all live longer, healthier lives and no more so than for people with urological cancers and conditions.

Innovation & Research Awards

Following on from the launch of our Innovation & Research Award in 2021, which attracted a high number of applications from across the UK and a wide range of urological cancers and conditions, it was good to see applications to this fund increase by 20% in 2022. The Innovation & Research Award funds projects up to a value of £60,000 that seek to use new, exciting, innovative approaches to address urological diseases and disorders. The projects must either (a) aim to create innovative treatments or devices, (b) aim to deliver innovative care pathways or (c) aim to use innovative research techniques or methods.

We are pleased to report that seven awards totalling £375,096 were made in 2022. This was a significant increase on the previous year when five awards totalling £296,594 were made.

Seven projects were selected for funding:

Bladder and Kidney cancers: Bladder cancer (BC) and kidney cancer (KC) are the second and third most common urology cancers. Worldwide, 375,000 patients die each year from these cancers and survival for patients with these advanced cancers has not significantly improved since the 1980s, largely because many of the drugs don’t work because of the specific genetic make-up of the tumours. This project aims to improve the choice and personalisation of treatments for patients with BC and KC by analysing the individual patient’s tumour responses to the drugs that work, while highlighting ineffective treatments so that they can be avoided. This will reduce the number of patients undergoing lengthy, toxic and expensive treatments that do not control the spread of their cancer. It will also speed up testing of new, effective treatments for these cancers - initial data suggests that a new treatment can be identified in over 50% of patient tumours tested.

Urinary Tract Infections (UTIs): UTIs are the most common outpatient infection, with post menopausal women being disproportionately affected, often with recurring infections. As the current standard treatment for UTIs is antibiotics, and antimicrobial resistance is becoming ever more common, it is imperative to find alternative means of treating UTIs. This project is a feasibility study into the use of intravaginal laser therapy for treating recurrent UTIs and to examine its effectiveness. We are grateful to the Champniss Foundation for generously supporting this project.

Penile cancer: Penile cancer is a rare disease. Cancer that is confined to the penis can be managed with surgical removal, and the survival outcome is good. However, survival is reduced significantly if the cancer has spread around the body. Unfortunately, the response to chemotherapy is not good. Currently, there are no markers that help predict disease progression or chemotherapy response. This project aims to identify and evaluate blood markers to help predict disease progression and chemotherapy response. It hopes to develop biomarkers allowing a more stratified and personalised approach to treatment.

Kidney cancer: A number of inherited conditions cause increased risk of developing kidney cancer and affected individuals are offered medical surveillance to identify cancers at an earlier, more treatable stage. Despite this, cancers can still present at a more advanced stage and surveillance (e.g. scans) are intensive and costly, so other techniques may also be useful. This project aims to identify cell ‘markers’ in urine that indicate whether renal cancer is present, for the purpose of early detection, in individuals with a genetic predisposition to that cancer type who have to be monitored

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on a frequent basis. This could lead to a safer and less invasive surveillance regime that would also save the NHS money.

Posterior urethral valves (PUV): PUV disease is a rare, congenital condition affecting a boy’s development in the womb that can lead to kidney failure and either a lifetime of transplants or early mortality. Because of its rarity it is extremely under researched and, as far as The Urology Foundation is aware, we are the only organisation funding research into understanding the causes of this disease with a view to providing prevention or cure, most other research has focused on treatment. Finding a new therapy to reduce kidney damage in PUV is desperately needed. This project will use new technology to read thousands of genes in every cell to make a cellular atlas of normal and PUV bladders. This will help to identify molecular changes and cellular interactions which drive scarring in PUV. This information will help understanding of the biology of PUV and refine new treatments for this condition. We are grateful to the Miskins for part funding this project.

Prostate cancer surgery: The most common complications of prostate cancer surgery include some cancer left behind, urinary incontinence and erectile dysfunction. A recent pilot study done on a cohort of 10 patients showed a reduction of cancer left behind from 35% to 10% after allowing surgeons to manipulate a physical representation of the patient’s prostate during surgery. This is a feasibility study of the effect 3D printed and virtual prostate models have on surgical outcomes after robotic-assisted radical prostatectomy. However, in preparation for a larger randomised control trial, it is necessary to investigate how accurate an automated tool for delineating prostate anatomy could be and what the effect a 3D printed/virtual models available to the surgeon is on the reduction of outcomes. We are grateful to the John Black Charitable Foundation for generously supporting this project.

Prostate cancer: MRI is the primary test for suspected prostate cancer. This often requires multiple visits for MRI, results and biopsies. Novel portable MRI technology has the potential to reduce these to one visit with live MRI-guided needle deployment. This project is a feasibility study to assess this new technology in the prostate cancer diagnostic pathway. If successful, the technology could lead to the following improvements in the diagnostic pathway: 1) Reduced time from referral to diagnostic MRI; 2) More accurate targeting of lesions based on MRI rather than ultrasound image-fusion; 3) Development of future prostate cancer screening programmes to utilise portable MRI.

Smaller Research Projects Fund

The Smaller Research Projects fund is focussed on improving treatment and care and supports projects up to the value of £10,000. The Fund is aimed at projects that can be delivered quickly (within 2 years) and are focused on supporting vital research that seeks to improve the quality of clinical services and patient treatment and care. In 2022 there was a variety of high quality applications. Four awards were made for the following projects:

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The Urology Foundation annual report & financial statements 2022

The TUF Trials Unit

In 2020 the TUF Trials Unit (TTU) launched in partnership with The Centre for Healthcare Randomised Trials (CHaRT) at the University of Aberdeen. The unit is led by Professor Graeme MacLennan, a

medical statistician and Professor James N’Dow, a consultant urologist. The role of the TTU is to identify promising and important research ideas from urology units and provide a team of medical investigators to bring those ideas to fruition. This approach enables more high-quality urology trials to take place, leading to better care, quicker recovery times and fewer long-term issues. Successful trials are catalysts for change, provide potential for transformational discoveries and drive improvements in treatment and care.

During the year the TTU continued to encourage more research ideas from the urology community. There are three urological trials supported by the TTU, comparing the efficacy of treatment and surgery techniques in kidney cancer, bladder cancer and evaluating robotic surgery in the NHS. There are a further 11 research trial ideas being nursed through the development process.

iROC Study

A highlight of the year was the outcome of a unique, three year research study, conducted by University College London and the University of Sheffield, which discovered that patients having robot-assisted bladder cancer surgery recovered faster and returned home sooner than patients who had open surgery. Robotic surgery reduced the chance of readmission by half (52%), and led to a 77% reduction in the prevalence of blood clots, when compared with patients who had open surgery. The study was supported by a grant from The Urology Foundation and The Champniss Foundation and generated extensive media interest.

Patient and Public Involvement (PPI) Programme

Individuals with experience of living with a disease or condition, or having significant others with a disease or condition, can bring substantial benefit and insight to charities. More and more charities are actively incorporating their experiences into conversations about the design of services, awareness programmes and medical research. During the year the charity took the decision to develop a Patient and Public Involvement (PPI) programme. The Programme will play a key role in acting as a bridge between the research community and people affected by urological cancers and conditions. The aim is to launch the Programme in 2023 supported by a PP! Development Board.

  1. Improving knowledge and skills through education and training

Support for urology trainees

The TUF/Urolink Fellowships are open to those senior level trainees who have completed their FRCS (Urol) and it is expected that the successful applicants will accompany established workshop teams in the first instance, and stay to work in that centre (or those centres) for an unspecified time after the workshop team’s departure. In 2022 two awards were made:

The Keith Yeates Medal/Ralph Shackman prize is only conferred when candidates achieve over 90% in their Intercollegiate Specialty Examination in Urology. In 2023 a record five candidates were successful and each receive a travelling fellowship worth £2,000:

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Malcolm Coptcoat Travelling Fellowship

The Malcolm Coptcoat Trust (MCT) and The Urology Foundation share a commitment to fostering the professional development of urologists and urology nurses, to promoting the highest standards in care and best practice and to investing in new, innovative technologies and techniques to improve patient outcomes. Following the incorporation of the MCT into The Urology Foundation, we are pleased to announce the launch of the Malcolm Coptcoat Travelling Fellowship. The Fellowship, worth £5,000, will enable trainees to travel to international centres of excellence for a period of four to six weeks to gain invaluable experience and skills in urology care and best practice. Successful candidates will become outstanding surgical leaders in their field, through the acquisition of new skills and knowledge, and will make an important contribution to the advancement of science and practice, thereby ensuring better outcomes for patients. They will also act as ambassadors promoting best practice and sharing knowledge from their own community and country.

“Unlocking Potential - the Power of Successful Communication” course

In May we ran our first course specifically for urology nurses focused on developing communication and influencing skills. “Unlocking Potential - the Power of Successful Communication” originated from successful courses previously held for urology specialist registrars and consultants. Delegates worked with professional trainer Alex Turk and past Presidents of the British Association of Urological Nurses (BAUN), Julia Taylor and Clare Waymont, on an interactive agenda covering areas such as the importance and impact of communication, judging tone, pace and language, clear messaging, presenting skills and how to communicate a message successfully. We are grateful to Peak Medical who made this course possible with an unconditional education grant.

Continence Care

In November the Charity’s Chief Executive chaired a Roundtable event of continence care experts. The event was an opportunity to discuss challenges in continence care, share examples of best practice and identify key changes required to ensure high quality overactive bladder (OAB) and continence care across the four nations. We were also awarded a grant to undertake a survey to understand the current landscape of bladder health and specifically continence care in primary and secondary care settings. The survey launched at the end of November targeting continence care teams, urology nurses and a network of healthcare professionals with an interest in continence care. We are grateful to Astellas Pharma for their support with this project.

Training

As part of our commitment to training and supporting our urology community, and those with an interest in urological cancers and conditions, the charity delivered training sessions throughout the year on a range of topics. Highlights included sessions on catheter related UTIs at the Knowlex Infection, Prevention and Control (IPC) Conference in Birmingham, the Northamptonshire Healthcare Foundation Trust IPC Week Conference and the South East Region’s IPC Week.

We were delighted to attend the British Association of Urological Surgeons (BAUS) Annual Conference in Birmingham and the BAUN Annual Conference in Edinburgh. Both events provided the opportunity

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to meet with colleagues and industry. The Foundation’s Chair, Mary Garthwaite, presented a session on UTIs at the BAUN Conference.

3. Improving public awareness of urological conditions and symptoms

The Urology Foundation is committed to improving public awareness of urological cancers and conditions, to promoting research progress and highlighting research developments, to commenting on topical issues and sharing patient experience.

In May we were pleased to host a Parliamentary Reception “Working together to support innovation in the MedTech sector” with the Urology Trade Association (UTA) at the House of Commons. Over 70 patients, scientists and clinicians, policy makers, charity partners and industry attended the event. A pledge on protecting and promoting patient choice was launched at the Reception and will form the basis for further discussions going forward.

We once again partnered with TalkHealth, an online health website, to provide information blogs and expert-led information forums about urological health matters to members of the public, and to provide articles for supplements in national newspapers. The “Ask the Experts” sessions included “Phimosis”, with Consultant Urological Surgeon Vaibhav Modgil, and “Erectile Dysfunction”, with Consultant Urological Surgeon and Andrologist Mr Hussein Alnajjar.

Throughout the year we took part and supported a number of campaigns including World Cancer Day, Bladder Cancer Awareness Month, World Kidney Day, Testicular Cancer Month and World Continence Week. The annual Urology Awareness Month (UAM) in September was one of our busiest campaigns ever. Activities included:

Many of our supporters took part in fundraising events during UAM. Twenty “Tuffers” took part in the Cycle Italy to Slovenia which raised over £62,000, a team of family and friends took part in the Reigate Run raising over £460 and runner Simon Bailey ran in the Berlin Marathon and London Marathon raising an incredible £10,000 in memory of his friend. A highlight of the Month was the Charity Golf Day at the Royal St George’s Golf Club on the 30 September. Organised by Club Captain Christopher Kemp and his team of helpers, the event raised over £80,000.

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Our social media profile continues to grow with Facebook and Instagram popular among the general public and Twitter and Linked-In with a higher numbers of urology professionals engaging.

Sincere thanks to everyone who promoted and supported this important campaign.

4. Collaborations and partnerships

We value the importance of working with other organisations to achieve our aims.

During the year we became a member of Cancer52. Cancer52 provides a collaborative voice for rare and less common cancers. Rare and less common cancers account for more than half of all cancer deaths in the UK and are severely under represented and underfunded across all areas, including research and policy. Cancer52 campaigns to raise awareness and improve outcomes of these cancers. Cancer52 represents over 100 charities.

We also became a member of the Charities Research Involvement Group. The group of over 40 charities join together to share experience and best practice for patient, carer and public involvement (PPI) in research. The group works together to develop resources, policies and tools to support researchers and people affected by a range of health conditions. Members include Cancer Research UK, Alzheimer’s Society, Stroke Association, Macmillan Cancer Support, British Heart Foundation, Alzheimer’s Research UK, Asthma & Lung UK, Muscular Dystrophy UK, Brain Tumour Research and Versus Arthritis.

Our staff engaged with a range of organisations and charity partners working in the area of urology. These included BAUS, BAUN, Urology Trade Association, Prostate Cancer UK, Prostate Research UK, Fight Bladder Cancer, Action Bladder Cancer, Kidney Cancer UK and UCare. We value our close relationships and look forward to working together going forward.

The Association of Medical Research Charities (AMRC) is a membership organisation dedicated to supporting medical research charities in saving and improving lives through research and innovation. They bring together and support health and medical charities to produce high-quality research through influencing policy and research and highlighting the sector’s contribution to patient and public health. Membership of the AMRC also invokes a high quality control of our peer review processes. We value our membership of the AMRC and the ongoing support of their team.

During the year we welcomed the opportunity to meet and work with a range of companies including Peppy Health, Intuitive Health, Boston Scientific, Pfizer UK, Peak Medical Ltd, Astellas Pharma, Bayer, Lloyds Pharmacy Online Doctor, Coloplast and Convatec to promote awareness of urology health. We look forward to developing our partnerships in the year ahead.

5. Plans for the future

Building on our achievements, informed by the knowledge and expertise of a range of stakeholders, and taking into consideration opportunities and the external environment, we will launch our new strategy “The Way Ahead 2023-2025” early next year. It is a bold and ambitious vision encompassing eight priorities:

Priority 1. Significantly accelerate the progress of urological research

Priority 2. Invest in our scientific and medical communities Priority 3. Facilitate collaborations and partnerships Priority 4. Drive change as a result of research outcomes Priority 5. Campaign for further investment in research Priority 6. Place people affected by urological disease at the heart of research

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Priority 7: Give a voice to the people affected by or at risk of urological disease Priority 8: Transforming The Urology Foundation.

Next year will also see the launch or our three year research strategy. We will engage with a wider range of stakeholders to identify the key priorities in research.

Financial Review

Financial Results of Activities & Events

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Assets & Income: 2021 vs 2022
3,000,000.00
2,500,000.00
2,000,000.00
1,500,000.00
1,000,000.00
500,000.00 a
Net assets Voluntary income Event income
m 2021 m2022
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The total value of net assets held by The Urology Foundation on 31 December 2022 was £2,640,341 (2021 £2,447,884). The Foundation’s fundraising activities and other initiatives during the course of 2022 generated a total of £1,318,353 of voluntary income (2021 £686,522) and a further £30,980 (2021 £83,389) from specific fundraising event income.

Fundraising

The Foundation is reliant on voluntary income to fulfil its remit. During the year a review of the charity’s fundraising function was undertaken and a recommendation made to diversify the existing income streams and to invest in additional fundraising support. This saw the appointment of a Business Development Manager and Trust and Foundations Manager, an extended events programme for 2023 and a new campaign with Goodwill Partnership as part of our legacy programme.

We are pleased to report income for year totalled £1,355,713 against the previous year total of £810,931, with strong performance across all areas, reflecting new activities and donations from a wide range of supporters. The following information summarises the various disciplines:

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The Urology Foundation annual report & financial statements 2022

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Reigate Run, Berlin and London Marathon. We are grateful to everyone who undertook various fundraising challenges for the charity.

We recognise the importance of listening to and putting supporters at the centre of everything that we do. In taking this approach, we are registered with the Fundraising Regulator and adhere to the code of fundraising when carrying out our activities. Our staff are committed to following codes of good practice and standards developed by the fundraising community through the work of the Chartered Institute of Fundraising (loF) and other professional bodies. The Foundation operates a clear and stringent complaints handling procedure that is reported to the Senior Management team and the Board. As part of our supporter care programme, we have agreed policies and procedures in place and written agreements with external agencies that we engage to help us or who raise funds for the charity. We ensure that anyone engaged to work for us is trained in and respects our aims and objectives and carries out their activities with the same high standards and care we would ourselves. During the year we received less than five complaints in relation to our fundraising activities. We remain committed to improving our practice and learning from supporter feedback.

Reserves & Liquidity Policy

The Foundation currently has ‘free reserves’ of £2,084,596 (31 December 2021: £2,097,116).

The Foundation’s policy is to maintain reserves sufficient to continue to fund its objectives on a long term basis, and to ensure that the charity operates with an adequate level of liquidity to (i) minimise the risk associated with a temporary or unforeseen shortfall in liquidity; (ii) manage its cash and investments to meet its liabilities and remain a going concern for at least 1 year in the event of an unplanned drop in income. Liquidity is defined as cash and the investment portfolio held as unrestricted funds. The Policy establishes a minimum liquidity target of £500,000 (“Minimum Required Reserve”) subject to future modification by the Finance Committee and Trustees’ approval.

The Trustees consider that reserves held in excess of the amounts required to fund all future commitments together with the initial fund of £500,000, will be available to increase its visibility and expand its operations including funding for further research and a wider range of projects.

The Trustees plan levels of expenditure from unrestricted and restricted funds for the year ahead based upon the level of incoming resources for the current year as well as utilising restricted funds.

Statement of going concern

The Foundation’s unrestricted net funds generated in 2022 are judged to be sufficient to meet the requirements of the charity for charitable giving in the coming year.

Investments Policy

The Foundation’s investments are managed by Rothschild Bank (Cl) Limited. The Treasurer and the Chief Executive are responsible for managing the relationship with Rothschild but changes in investment strategy are subject to approval by the board of trustees. The investment manager is asked to attend at least one board meeting annually.

The board follows a medium risk ‘Balanced’ investment strategy which is intended to achieve steady growth over the long term through a diversified approach to investment. Capital preservation in real terms over a long term horizon is the primary objective and some volatility is acceptable in order to achieve this. The charity’s investments are held in the Exbury Fund, an ethical portfolio managed by Rothschild. The fund achieved near 15% returns over 2020 and 2021 but reported a decrease in value of 6.8% over the 12 months up to and including December 2022.

All other Foundation funds are held in accounts with the charity’s bankers, National Westminster Bank plc.

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14

Remuneration policy

In setting salary levels, The Urology Foundation follows the National Council for Voluntary Organisation’s guidance that a charity’s pay policy should be to offer fair pay to attract and keep appropriately-qualified staff to lead, manage, support and/or deliver the charity’s aims. It also conducts online research of charity salaries and uses surveys to benchmark levels of pay. The Urology Foundation does not automatically award its staff with annual salary increases, either incremental or cost of living.

Pensions policy

The charity offers a stakeholder pension, operated by The People’s Pension (B&CE Holdings), in line with statutory requirements. All new staff are automatically enrolled but can opt out if desired.

Equal opportunities and diversity policy

The charity is committed to being an Equal Opportunities employer and to respecting diversity, and is determined to ensure that no job applicant, employee, or Trustee receives less favourable treatment on the grounds of their age, disability, gender identity, marriage and civil partnership, pregnancy or maternity, race, religion or belief, sex or sexual orientation. The charity also seeks to ensure that its employees are not victimised or subjected to harassment.

The policy applies to recruitment and selection for jobs in the Foundation, career development and training, promotion, performance management, pay, redundancy, disciplinary and grievance procedures, the application of terms and conditions of employment and any other aspects of employment with the Foundation.

The policy also applies to third parties such as Trustees and committee volunteers, clients (ie grant applicants) and suppliers.

Principal risks and uncertainties

The Trustees take the management of risks seriously. The Chair of the Board of Trustees and the Chief Executive are charged with responsibility to ensure that the risks which have been identified are adequately assessed and properly mitigated on a regular basis. The potential risks have been discussed with the Chairman and the charity and a formal risk register is kept and brought before the Board on at least an annual basis.

Impact of Covid-19 and war in Ukraine

The pandemic continued to affect the urology workforce, which meant that applications to, and take up of, our travel and fellowship awards were lower than expected. Looking forward, the ongoing war in Ukraine has broader economic implications, some of which will be reflected in our investment fund holdings. Our Investment Manager keeps us regularly updated and there is no immediate cause for concern or action.

Risks to Data

The charity takes its responsibilities for data very seriously. We follow a Data Protection policy based on the GDPR and have a nominated Trustee (Mr Adrian Joyce) who has Board oversight for data compliance. We use a professional data base provider that stores all information in the cloud and this is secured using a two-step password verification. We review our records on an ongoing basis and delete old or historical records that are no longer relevant, and remove people who no longer wish to hear from us (provided that there is no financial information that we need to retain).

Other key risks are assessed as follows:

Governance Impact of the external environment on fundraising, in particular: public /Environmental confidence in charities; new fundraising regulations; Data Protection Regulations.

The Urology Foundation annual report & financial statements 2022

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Income Sources Income Sources Income Sources TUF is wholly reliant upon voluntary income as an annual source of funding.
It is the role of the Trustees to manage risk exposure on fundraising activities
and in doing so to accept an appropriate level of risk in order to raise income
from a wide range of sources.
Risk of data The charity uses a professional database provider that stores all information
breach in the cloud and this is secured using a two-step password verification. The
charity’s own day to day working documents are also stored on a cloud-based
system. TUF staff are regularly made aware of possible phishing scams and to
be alert to any potential email or system data breaches.
Key Person risk The small staff base makes TUF heavily reliant on the Chief Executive and a
few key Trustees so the unexpected loss or departure of the Chief Executive
or certain Trustees is a risk. Succession planning processes are in place.
Investment Risk TUF’s success is directly related to the amount of resource it can devote to
its objectives, so the key risk identified by trustees relates to the proper
management
of
its
funds. Imprudent
or
unprofessional
decisions
could
majorly impact on the performance of those funds. In common with similar
charities, TUF employs professional fund managers, whose performance is
regularly reviewed by the Treasurer together with other trustees.
Risk to Employees Employees are not subject to risks other than those likely to be associated
with routine office work. Apart from obtaining statutory Employers Liability
Insurance, TUF nonetheless treats the welfare of its staff as a priority. The
Chief Executive is the Nominated Safety Officer for the purposes ofthe Health
and Safety at Work Act. The premises are checked and maintained by the
landlord and by the fire service to ensure appropriate mitigation of the risk
of fire. Employees are aware of the location of fire extinguishers. The charity
also has a number of policies in place covering Equal Opportunities, Lone
Working, Working from Home and Safe Guarding Vulnerable People.
Risk that research Grants awarded are subject to rigorous review by the SEC and Reviewing
fails to deliver
results reviewed by the SEC and TUF. The charity maintains ongoing communication
with grant holders.
Loss of Records To protect against the loss of records, and to increase data security, files are
stored in the cloud. The risk of any unsaved data being critical to TUF is
regardedasinsignificant.Othersimilarrisksaredealtwithbyinsurance.

The Urology Foundation annual report & financial statements 2022

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Structure, Governance & Management

The Urology Foundation is a charity and a company limited by guarantee and was established on 12 February 2009 to incorporate the charitable activities of the British Urological Foundation (BUF), an unincorporated charitable trust, established in 1994 by the British Association of Urological Surgeons and BJU International, and a registered charity since 17 March 1995. The Urology Foundation itself became a registered charity on 19 March 2009.

Charity Governance Code

The Board and Executive of the charity abide by the standards set by the Charity Governance Code when executing their duties. The overall strategic direction of the charity is determined by the Trustees, who meet three times each year including an Annual General Meeting.

Trustee Recruitment, Training and Induction

The Foundation seeks to achieve a balance of lay and medical Trustees. Appointed Trustees are recruited on the basis of fulfilling the criteria to provide a balance of experience and knowledge. Members of the charity’s Scientific and Education Committee (see below) are recruited through calls in industry publications.

All new Trustees are provided with an induction programme and an induction pack. They are provided with relevant Charity Commission publications and regularly briefed on developments and opportunities that will support their general understanding of the voluntary sector, healthcare and medical research issues.

Appointment & Election

The Trustees and Chairman are appointed for an initial period of three years that can be extended for a further three-year term. A further extension may be made if it is deemed to be in the best interests of the Charity. The governing document requires that there should be a minimum of seven Trustees.

Two of the Trustees are required to be representative Trustees, one nominated by The British Association of Urological Surgeons (BAUS) and one nominated by British Journal of Urology International (BJUI). All other Trustees, known as appointed Trustees, are appointed by unanimous written resolution of all the Trustees present and/or voting at a special meeting of Trustees called to take place immediately before or after an ordinary meeting of Trustees.

The representative Trustee nominated by BAUS is the President of BAUS and his / her appointment to the Board is concurrent with his/her post at BAUS, which is for a period of two years.

The Executive Team

The Chief Executive, is responsible for the day-to-day management of the charity.

The Chief Executive deals with the implementation of policy and strategic decisions taken by the Board of Trustees. She and the appropriate staff members attend the meetings of the Board of Trustees and sub-committees, and report on the day-to-day operations of the charity. The Foundation currently operates the following sub-committees:

Scientific and Education Committee (SEC)

The SEC is responsible for the development and assessment of The Foundation’s research, education and training programmes and the review and administration of The Foundation’s grant making policy. The Chairman of the SEC is also a member of the board of trustees, and reports back to the board on the work of the Committee. The SEC is made up of clinical and academic urologists and scientists with an interest in urology, and lay representatives.

The Urology Foundation annual report & financial statements 2022

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Research Scholarship Review Panel

The Research Scholarship Review Panel is responsible for assessing applications for our major research grants and marking these according to the requisite criteria being met. In this task it assists the SEC in its final decision on who should receive grants. The Research Scholarship Review Panel is made up of clinical trustees and academic urologists and scientists with an interest in urology.

Membership of the SEC and Review Panel can be viewed on the charity’s website: https: //www.theurologyfoundation.org/about-us/who-we-are/our-team/committees. They provide their services as volunteers and we are enormously grateful to them.

Finance Committee

The charity Finance Committee is chaired by the Treasurer, Ms Angela Daniel. Membership includes The Chair of the Board and the Chair of the SEC, and two other Trustees and the Chief Executive. Any recommendations made by the Finance Committee are brought to the Board of Trustees for discussion and ratification. The Treasurer has oversight of the charity’s bank and investment accounts. During the year the Terms of Reference were reviewed and updated.

Relationships with Related Parties

The Urology Foundation continues to maintain close links with its two founding charities, The British Association of Urological Surgeons (BAUS) and the BJU International, whose representatives are Trustees. The charity is also represented on BAUS Council by Mary Garthwaite.

Representation on Other Bodies

The charity is a member of the Association of Medical Research Charities (AMRC), which confers a quality mark for our peer review processes, as well as advocating for charity-funded research with government. The Urology Foundation is a National Institute for Health Research (NIHR) noncommercial Partner. This means the studies that the Foundation funds may be eligible to access the NIHR Study Support Service which is provided by the NIHR Clinical Research Network.

During the year, the charity became a member of Cancer 52, Charities Research Involvement Group and the National Council for Voluntary Organisations.

The Urology Foundation annual report & financial statements 2022

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Reference and administrative details

The registered charity name is “The Urology Foundation” (sometimes referred to as “TUF”), a charity and a company limited by guarantee.

Trustees Ms Mary Garthwaite (Chair, appt 8 August 2022)

Mr Paul Fletcher (Chair, resigned 8 August 2022) ; Chief Executive Ms Angela Daniel (Treasurer) Me Rebecca Porta Mr Mark Becker (Secretary) Prof Grant Stewart adhie 14 Registered Office Prof Rakesh Heer (Chair SEC, appt 14 March 1-2 St Andrew’s Hill 2023) London Mr Ben Challacombe EC4V 5BY Ms Jo Jo Cresswell (BAUS rep appt 23 June 2022) : Mr Mike Mike Griggs (appt 1 January 2023) 2023) Charity number

Ms Jo Jo Cresswell (BAUS rep appt 23 June 2022) Mr Mike Mike Griggs (appt 1 January 2023) 2023) Prof Alan McNeill (BJU! rep, appt 10 Feb 2022) Mr Roland Morley Mr David Nicol (resigned 31 December 2022) Mr Tim O’Brien (BAUS rep, resigned 22 June 2022) Ms Hannah Warren

Company number 06817868

Auditors Dunkley & Co Ltd Woodlands Grange, Woodlands Lane Bradley Stoke Bristol BS32 4JY

President Prof Roger Kirby

Bankers National Westminster Bank plc PO Box 2021 10 Marylebone High Street London W1A 1FH

Patrons Mr Handel Evans Sir Ranulph Fiennes OBE Mrs Rosemary Macaire Ms Jane Macquitty MBE Mr Steven Norris

Investment Manager Rothschild Bank (Cl) Limited St. Julian’s Court, St. Julian’s Avenue os Peter or 3UA MEMSy

Ambassadors Mr Alex Corbisiero Mr Stephen Fry Mrs Kate Holmes

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The Urology Foundation annual report & financial statements 2022

Trustees’ & Directors’ Responsibilities in the Preparation of Financial Statements

The trustees (who are also the directors of The Urology Foundation for the purposes of company law) are responsible for preparing the trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date, and of the incoming resources and application of resources, including income and expenditure, for that period. In preparing those financial statements, the trustees and directors are required to:

The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with Companies Acts 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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

Auditor

Mr Matthew Dobbins (FCA), of Dunkley & Co Ltd. has agreed to act as Auditor.

Statement as to disclosure of information to the auditor

The trustees and directors at the date of approval of this trustees’ annual report confirm that so far as each of them is aware, there is no relevant information of which the charity’s auditor is unaware, and the trustees and directors have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the auditor is aware of that information.

Mary Garthwaite, Chair

Date: Sep 26, 2023

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The Urology Foundation annual report & financial statements 2022

Report of the Independent Auditors to the Trustees of The Urology Foundation (Registered number: 06817868)

Opinion

We have audited the financial statements of The Urology Foundation (the ‘charitable company’) for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement 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 (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 Auditors’ 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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 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. 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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

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

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The Urology Foundation annual report & financial statements 2022

Report of the Independent Auditors to the Trustees of The Urology Foundation (Registered number: 06817868)

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ Responsibilities, 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.

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The Urology Foundation annual report & financial statements 2022

Report of the Independent Auditors to the Trustees of The Urology Foundation (Registered number: 06817868)

Our responsibilities for the audit of the financial statements

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

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors 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:

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

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

o Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

o Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

0 The internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

o The matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the areas of management override of controls, going concern, income recognition, and the appropriateness of expenditure.

We also obtained an understanding of the legal and regulatory framework that the organisation operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements.

Audit response to risks identified

Our procedures to respond to risks identified included the following:

The Urology Foundation annual report & financial statements 2022

23

Report of the Independent Auditors to the Trustees of The Urology Foundation (Registered number: 06817868)

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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 Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors’ 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Aigtrens Lyd—

Matthew Dobbins FCA Dunkley's Chartered Accountants Registered Auditors Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 Woodlands Grange Woodlands Lane Bradley Stoke Bristol BS32 4JY DAE cataserererepsrorsrerereyrorerarersvorrarsrersisouarenreretereniecetesetteSep 26, 2023

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The Urology Foundation annual report & financial statements 2022

THE UROLOGY FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 December 2022

Unrestricted Restricted Total Total
Funds Funds 2022 2021
Note £ £ £ £
INCOME
Donations and legacies 1 1,016,881 301,472 1,318,353 686,522
Other trading activities 2 30,980 - 30,980 83,389
Investments 3 6,380 - 6,380 41,020
TOTAL INCOME 1,054,241 301,472 1,355,713 810,931
EXPENDITURE
Raising Funds
Donations and legacies 4 38,978 4,330 43,308 46,687
Trading activities 5 38,547 4,283 42,830 23,620
Investment management costs. 74 - 74 72
Expenditure on Charitable activities
Raising Awareness 6 126,910 14,101 141,011 85,890
Grant making 7 606,675 73,461 680,136 742,928
Net losses/(Gains) on investment assets 11 255,577 320 255,897 (377,727)
TOTAL EXPENDITURE 1,066,761 96,495 1,163,256 521,470
NET INCOME/(EXPENDITURE) (12,520) 204,977 192,457 289,461
RECONCILIATION OF FUNDS
Fund balances brought forward
at 1 January 2022 2,097,116 350,768 2,447,884 2,158,423
Transfer between funds : : - -
FUND BALANCES CARRIED
FORWARDAT31DECEMBER2022 2,084,596 555,745 2,640,341 2,447,884

The net movement in funds for the year arises from the charity's continuing operations.

No separate statement of total changes in equity has been presented as all such gains and losses have been dealt with in the statement of financial activities.

The notes on pages 29 to 39 form part of these accounts

25

The Urology Foundation annual report & financial statements 2022

THE UROLOGY FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 December 2021 (Full fund comparative)

Unrestricted Restricted Total
Funds Funds 2021
Note £ £ £
INCOME
Donations and legacies 1 639,590 46,932 686,522
Other trading activities z 83,389 - 83,389
Investments 3 41,020 - 41,020
TOTAL INCOME 763,999 46,932 810,931
EXPENDITURE
Raising Funds
Donations and legacies 4 42,022 4,665 46,687
Trading activities 5 21,262 2,358 23,620
Investment management costs 72 : 72
Expenditure on Charitable activities
Raising Awareness 6 77,315 8,575 85,890
Grant making 7 614,398 128,530 742,928
Net (Gains) on investment assets 11 (377,255) (472) (377,727)
NET INCOME/(EXPENDITURE) 377,814 143,656 521,470
NET (EXPENDITURE) 386,185 (96,724) 289,461
RECONCILIATION OF FUNDS
Fund balances brought forward
at 1 January 2021 1,675,542 482,881 2,158,423
Transfer between funds 35,389 (35,389) -
FUND BALANCES CARRIED
FORWARDAT31DECEMBER2021 2,097,116 350,768 2,447,884

The net movement in funds for the year arises from the charity's continuing operations.

No separate statement of total changes in equity has been presented as all such gains and losses have been dealt with in the statement of financial activities.

The notes on pages 29 to 39 form part of these accounts

26

The Urology Foundation annual report & financial statements 2022

THE UROLOGY FOUNDATION

BALANCE SHEET

as at 31 December 2022

Company Number 06817868

2022 2021
Note £ £
FIXED ASSETS
Tangible assets 10 25719: 3,627
Investments 11 3,407,104 3,657,270
3,409,823 3,660,897
CURRENT ASSETS
Debtors 12 413,449 98,723
Cash at bank and in hand 322,606 238,420
736,055 337,143
LIABILITIES: amounts falling due within one year 13 1,102,738 1,133,522
NET CURRENT LIABILITIES (366,683) (796,379)
LIABILITIES: amounts falling due in more than one year 13 402,799 416,634
NET ASSETS 2,640,341 2,447,884
THE FUNDS OF THE CHARITY
Restricted income funds 15
Robotic Surgery Training Fund 160,170 200,076
Prostate Cancer Research Fund 137,269 138,804
Bladder Cancer Fund 184,851 (31,425)
Travel Fellowship Fund 648 653
Team Corbs - Testicular “3 2,158
Charles Reynolds 65,497 40,503
Unrestricted income funds 15
General Fund 1,584,597 1,597,116
Designated Fund (British Urology Foundation) 500,000 500,000
TOTALCHARITYFUNDS 16 2,640,341 2,447,884

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard 102.

The financial statements on pages 25 to 28 were approved by the trustees and authorised for issue on 25 September 2023, and are signed on their behalf by

Rendle, __ Bie ooneter’ Chalk Mary Garthwaite ep 26,2023

LBs _ Weiineteiclenesnmaiee TECOSUrer Angela Daniel

P26, 2023

The notes on pages 29 to 39 form part of these accounts

LT

The Urology Foundation annual report & financial statements 2022

THE UROLOGY FOUNDATION

STATEMENT OF CASHFLOWS as at 31 December 2022

2022 2021
Note £ £
CASH FLOWS FROM OPERATING ACTIVITIES: 14
Net cash used in operating activities 84,134 (333,651)
Cash flows from investing activities:
Dividends and interest from investments 5,855 41,002
Management fees paid from investments (72) (72)
Purchase of equipment - (2,159)
Transfer from cash : .
Proceeds from sale of investments 150 852,452
Purchase of investments (5,882) (536,261)
Net cash used in investing activities: 51 354,962
Change in cash and cash equivalents in the reporting period 84,185 21,311
Cash equivalents at the beginning of the reporting period 238,420 217,109
Cashandcashequivalentsattheendofthereportingperiod 322,605 238,420

The notes on pages 29 to 39 form part of these accounts

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The Urology Foundation annual report & financial statements 2022

THE UROLOGY FOUNDATION

Financial statements for the year ended 31 December 2022

ACCOUNTING POLICIES

BASIS OF ACCOUNTING

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 1 January 2019 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011. The trust constitutes a public benefit entity as defined by FRS 102.

INCOME

Grants, donations and other similar types of voluntary income are brought into account when it is probable that they will be received, except that donated income is included gross of any attributable tax recoverable, where relevant. Donations given for specific purposes are treated as restricted income. Tax recoverable is recognised when claims are submitted to HM Revenue and Customs. Legacy gifts are recognised in the period in which the Charity becomes entitled to receive the income.

Income receivable from activities for generating funds and from investment income is accounted for on an accruals basis. Deferred income represents revenues collected but not earned as of 31 December 2022. This is primarily composed of income collected in advance of a fundraising event taking place and deferred until the charity is entitled to that income as and when the event takes place.

EXPENDITURE

Resources expended are allocated to the costs of generating funds or to the charity's principal activity where the costs can be identified as being directly related. All other costs are categorised as either support costs or governance costs, and are allocated in proportions based upon a suitable ratio applicable to the nature of the cost involved.

Grants payable are recognised in full in the period in which the approved offer is conveyed to the recipient. Grants are recognised and deferred where there is a long term commitment for the Charity. Where grants are recognised and conditions for staged grant payments are not met in subsequent years, an adjustment to grants payable will be made in the relevant accounting period. Expenditure includes irrecoverable VAT which is reported as part of the expenditure to which it relates.

TANGIBLE FIXED ASSETS

All tangible assets purchased that have an expected useful economic life that exceeds one year are capitalised and classified as fixed assets. Tangible fixed assets are stated at historical cost less depreciation. Depreciation is provided on all tangible fixed assets at rates calculated to write each asset down to its estimated residual value evenly over its expected useful life, as follows:

Office equipment 25% reducing balance

OPERATING LEASES

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

The Urology Foundation annual report & financial statements 2022

29

THE UROLOGY FOUNDATION

Financial statements for the year ended 31 December 2022

ACCOUNTING POLICIES

INVESTMENTS

The charity's investments are included in the balance sheet at their market value. The gains or losses arising upon their annual revaluation are included in the statement of financial activities.

FUND ACCOUNTING

The general fund comprises the accumulated surpluses of unrestricted incoming resources over resources expended, which are available for use in the furtherance of the general objective of the charity.

Designated funds are a particular form of unrestricted funds consisting of amounts, which have been allocated or designated for specific purposes by the trustees. The use of designated funds remains at the discretion of the trustees.

Restricted funds are funds subject to specific conditions imposed by donors. The purpose and use of the restricted funds are set out in the notes to the accounts. Amounts unspent at the year end are carried forward in the balance sheet.

FOREIGN EXCHANGE

Receipts and payments which occur in foreign currencies are included in the accounts at the amount into which they are converted in sterling, using the exchange rate on the day in which the transaction occurs.

GOING CONCERN

The Trustees as Directors of the Charity believe that there are no material uncertainties that may cast significant doubt about the ability of the Charity to continue as a going concern, due to the significant unrestricted reserves as at 31st December and the forecast income expected in 2023. As we prepare this statement in early 2023, it is clear that the long tail of the COVID-19 pandemic, and its impact on the NHS workload, continues to have a bearing on the charity’s operations, with applications for programmes such as fellowships and travel grants still low. It remains to be seen whether our events fundraising and income will be impacted by global issues such as the war in Ukraine and the current cost of living crisis, which may affect future budgets for research and training. The trustees believe, however, that given the level of available cash and reserves, the charity can continue as a going concern.

FINANCIAL INSTRUMENTS

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

30

The Urology Foundation annual report & financial statements 2022

THE UROLOGY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2022

Unrestricted Restricted
funds funds 2022 2021
£ £ £ £
1. INCOME FROM DONATIONS AND LEGACIES
Grants received from charitable trusts
and corporate sponsors 628,363 301,472 929,835 477,362
Donations 388,518 - 388,518 204,580
Legacies - - - 4,580
1,016,881 301,472 1,318,353 686,522
2. INCOME FROM OTHER TRADING ACTIVITIES
Income from fundraising events 30,980 - 30,980 83,389
3. INVESTMENT INCOME
Bank interest receivable on short
term cash deposits 525 - 525 18
Income from investments listed on
a recognised stock exchange:
UK investments 5,855 - 5,855 41,002
Overseas investments : - : -
6,380 - 6,380 41,020
4. COSTS OF RAISING FUNDS
VOLUNTARY INCOME
Direct costs 16,798 1,866 18,664 28,220
Support costs (see note 8) 22,180 2,464 24,644 18,467
38,978 4,330 43,308 46,687

31

The Urology Foundation annual report & financial statements 2022

THE UROLOGY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2022

Unrestricted Unrestricted Restricted Restricted
funds funds 2022 2021
£ £ £ £
5; COSTS OF RAISING FUNDS
TRADING ACTIVITIES
Costs of fundraising events 16,367 1,819 18,186 5,153
Support costs (see note 8) 22,180 2,464 24,644 18,467
38,547 4,283 42,830 23,620
6. COSTS OF RAISING AWARENESS
Costs of fundraising events 38,190 4,243 42,433 12,024
Support costs (see note 8) 88,720 9,858 98,578 73,866
126,004
101
OTT		 85890
7. GRANT MAKING
Research Scholarships awarded to 310,302 58,780 369,082 263,888
5 (2021: 5) individuals
Small Research Projects		 39,203,
38,914		 - - 39,203,
38,914
awarded to 5 (2021: 4) teams
10,000
{
10,000
(800)
4500
 -
4,500
4,500
aus
80A_
3,032,
[
1,350
 -
1,350
-
grant accruals
444,021 55,388 499,409 607,514
Support costs (see note 8) 162,654 18,073 180,727 135,414
606,675 73,461 680,136 742,928

32

The Urology Foundation annual report & financial statements 2022

THE UROLOGY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2022

----- Start of picture text -----
||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |Costs|of|Fundraising| |generating|trading:|Cost| |voluntary|of goods|Awareness|Giving| |income|sold|raising|grants|2022|2021| |7.5%|7.5%|30%|55%| |£|£|£|£|£|£| |SUPPORT AND AND|GOVERNANCE|COSTS|(UNRESTRICTED)| |Staff|costs|(see|note|9)|14,606|14,606|58,422|107,107|194,741|130,653| |Other|staff|costs|including|recruitment|234|234|935|1,715|3,118|24,909| |Committee|and|other|staff|welfare|expenses|301|301|1,203|2,205|4,010|333| |Other|office|costs|4,418|4,418|17,674|32,402|58,912|41,189| |Audit|fee|22|22|90|164|298|2,900| |Accountancy|and|advisory|services|789|789|3,155|5,785|10,518|13,066| |Other|costs|1,749|1,749|6,996|12,826|23,320|8,097| |Depreciation-owned|assets|61|61|245|449|816|496| |22,180|22,180|88,720|162,653|295,733|221,643|

----- End of picture text -----

  1. SUPPORT AND AND GOVERNANCE COSTS (UNRESTRICTED)

8. SUPPORT AND GOVERNANCE COSTS (RESTRICTED)

----- Start of picture text -----
||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |Staff|costs|(see|note|9)|1,623|1,623|6,491|11,901|21,638|14,412| |Other|staff|costs|including|recruitment|26|26|104|191|347|2,813| |Committee|and|other|staff|welfare|expenses|33|33|134|245|445|37| |Other|office|costs|491|491|1,964|3,600|6,546|4,576| |Audit|fee|2|2|10|18|32|323| |Accountancy|and|advisory|services|88|88|351|643|1,170|1,453| |Other|costs|194|194|TIL|1,425|2,590|901| |Depreciation-owned|assets|7|rf|27|50|91|55| |2,464|2,464|9,858|18,073|32,859|24,570|

----- End of picture text -----

33

The Urology Foundation annual report & financial statements 2022

THE UROLOGY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2022

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |2022|2021| |STAFF|COSTS| |No.|No.| |The|average|monthly|number|of|persons|employed|by|the|charity| |(excluding|trustees)|during|the|period|was,|as|follows:| |Office|and|administration|3.3|2.7| |£|£| |Staff|costs|for|the|above|persons:| |Staff|Wages|and|salaries|137,779|51,800| |Staff|Social|security|costs|13,374|3,743| |Key|management|personnel|Wages|and|salaries|59,655|82,339| |Key|management|personnel|Social|security|costs|5,571|7,183| |216,379|145,065|

----- End of picture text -----

One employee received total emoluments in excess of £60,000 per annum during the period ended 31 December 2021. The total emoluments of this employee during the year were in the following ranges:

2022 2021

The Charity considers its key management personnel comprise the Chief Executive, with remuneration as noted above. In setting salary levels, The Urology Foundation follows the National Council for Voluntary Organisation’s advice that a charity’s pay policy should be to offer fair pay to attract and keep appropriately-qualified staff to lead, manage, support and/or deliver the charity’s aims. It also conducts online research of charity salaries and uses surveys to benchmark levels of pay. The Urology Foundation does not automatically award its staff with annual salary increases, either incremental or cost of living.

No Director received any remuneration from the Company during the year (2021: £nil).

No trustee received any remuneration for services provided to the charity during the current or previous period. Trustees expenses reimbursed in respect of Trustee's meetings and travel for the year ended 31st December 2022 amounted to £0 paid to no Trustees (2021 £0 paid to no Trustees).

----- Start of picture text -----
||||| |---|---|---|---| |TANGIBLE|ASSETS|Office| |Equipment| |£| |Cost:| |1|January|2022|22,494| |Additions|0| |31|December|2022|22,494| |Depreciation:| |1|January|2022|18,867| |Charge|for|year|908| |31|December|2022|19,775| |Net|book|value:| |31|December|2022|2,719| |31|December|2021|3,627|

----- End of picture text -----

The Urology Foundation annual report & financial statements 2022

34

THE UROLOGY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2022

2022 2021
£ £
11. INVESTMENTS
Investments listed on a recognised stock exchange
at market value:
1 January 2022 3,657,270 3,595,733
Transfers from cash -
Additions at cost 5,882 536,261
Disposal proceeds (150) (852,452)
Realised (losses)/gains 29 124,555
Unrealised gains (255,926) 253,173
31 December 2022 3,407,105 3,657,270
At the balance sheet date, the market value of the portfolio comprised:
UK investments 3,407,105 3,657,270
3,407,105 3,657,270
Fixed income securities 549,597 543,742
Equities - -
Multi-Asset & Hybrid Instruments 2,857,508 3,113,528
3,407,105 3,657,270
At the balance sheet date, the historical cost of the investments was £2,944,132 (2021: £2,938,371).
The following holdings had a value of >5% of the market value of the investments:
Value £ Value £
Name Holding 2022 2021
Rothschild & CoWM SICAV-SIF Exbury Fund GBP 2,857,508 3,113,528
Pentairs QIAIF PLC - Vanda Fund Shs -F- USD Shs -
InstitutionalCash SeriesPLC - BlackRock ICS Sterling Liquidity Fund 549,597 543,742
12. DEBTORS 2022 2021
£ £
Amounts falling due within one year:
Other debtors 0 3,017
Prepayments 14,086 21,450
Accrued Income 399,363 74,256
413,449 98,723

35

The Urology Foundation annual report & financial statements 2022

THE UROLOGY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2022

13. CREDITORS 2022 2021
£ £
Amounts falling due within one year:
Deferred income 504 80,628
General accruals 45,971 11,270
Grant accruals 1,049,953 1,041,624
Other creditors 6,310 :
——_1,102,738 __
1,133,522,
Deferred income b/fwd at 1 January 2022 80,628
Amounts released in the year (80,628)
New amounts deferred in the year 504
Deferred income c/fwd at 31 December 2022 504
CREDITORS 2022 2021
£ £
Amounts falling due in more than one year:
Grant accruals 402,799 416,634
402,799 416,634
14, RECONCILIATION OF NET INCOME/(EXPENDITURE) TO OF NET INCOME/(EXPENDITURE) TO OF NET INCOME/(EXPENDITURE) TO NET CASHFLOW FROM OPERATING ACTIVITIES CASHFLOW FROM OPERATING ACTIVITIES CASHFLOW FROM OPERATING ACTIVITIES
Net Income/(expenditure) for the reporting period
per the statement of financial activities 192,458 289,461
Adjustments for:
Depreciation charges 907 350
Losses/(gains) on investments 255,897 (377,727)
Dividends and interest frominvestments (5,855) (41,002)
Management fees paid from investments 72 72
(Increase) in debtors (314,726) (20,950)
(Decrease) in creditors (44,619) (183,855)
Net cash used in operating activities 84,134 (333,651)
15. THE FUNDS OF THE CHARITY
1 January Gains/(losses) 31 December
2022 Transfer Income Expenditure on Investments 2022
£ £ £ £ £ £
Restricted income
funds:
Robotic Surgery
Training Fund 200,076 - - (39,737) (169) 160,170
Prostate Cancer Research Fund 138,804 - 57,313 (58,780) (68) 137,269
Bladder Cancer Fund (31,425) - 214,000 2,342 (66) 184,851
Travel Fellowship Fund 653 - - : (5) 648
Team Corbs - Testicular 2,158 - 5,159 - (6) 7,311
Charles Reynolds 40,503 - 25,000 - (6) 65,497
350,768 - 301,472 (96,175) (321) 555,744
Unrestricted income funds:
General Fund 1,597,116 - 1,054,241 (811,183) (255,577) 1,584,597
Designated Fund (BUF) 500,000 - - - - 500,000
2,447,884 - 1,355,713 (907,358) (255,898) 2,640,341

The Urology Foundation annual report & financial statements 2022

36

THE UROLOGY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2022

  1. THE FUNDS OF THE CHARITY (Continued)

  2. ® The trustees have designated the original 1995 start-up funding for the BUF of £500,000 as the trustees feel strongly that The Foundation should seek to maintain reserves sufficient to continue to fund its objectives on a long term basis.

  3. ® The Robotic Surgery Training Fund was set up in 2009 following the receipt of restricted donation income from the British Urological Foundation and a generous private donation. The funds are mainly used to award grants towards robotically assisted surgery training, education, and research into robotic training techniques.

  4. ° Bladder cancer remains one of the most expensive cancers to treat and survival rates appear to have reached a plateau at 50%. In the UK, more than 10,000 new cases of bladder cancer are diagnosed every year. The Foundation is determined to improve the diagnosis, treatment and outcomes of people with bladder cancer and to allocate resources to vital research into the diagnosis and pathology of bladder cancer and to funding training and education to improve patient treatment and care. Through a generous donation from The Champniss Foundation, TUF has funded the iROC bladder cancer surgery trial, investigating the efficacy of Robot assisted radical cystectomy and intracorporeal urinary diversion compared with open radical cystectomy in patients with bladder cancer. The Champniss Foundation and the Champniss Charitable Trust are also funding a study into patient tracking post-surgery via fitness devices.

  5. ° Prostate Cancer Research - Thanks to the John Black Charitable Foundation (JBCF) TUF has been able to invest in a number of high profile research studies, such as the CLIMATE trial, which are ongoing. There were no new JBCF awards given in 2022.

  6. e The Foundation started working with former England and Lions rugby champion, Alex Corbisiero, to raise funds for research into testicular cancer, following Alex’s diagnosis. A Just Giving page has been set up and the charity will continue to fundraise with Alex.

37

The Urology Foundation annual report & financial statements 2022

THE UROLOGY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2022

16. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed Net
Assets Assets/(Liabilities) Total
£ £ £
Restricted income funds:
Robotic Surgery Training Fund 186,354 (26,184) 160,170
Prostate Cancer Research Fund 914,994 (777,725) 137,269
Bladder Cancer Fund 139,651 45,200 184,851
Travel Fellowship Fund 1,046 (398) 648
Team Corbs - Testicular - 7,311 7,311
Charles Reynolds - 65,497 65,497
Unrestricted income funds:
General Fund 1,667,778 (83,181) 1,584,597
Designated Fund (British Urology Foundation) 500,000 - 500,000
NETASSETS 3,409,823 (769,482) 2,640,341
17. ULTIMATE CONTROLLING PARTY
The Charity is controlled by the board of Trustees.
18. COMMITMENTS UNDER OPERATING LEASES
As at 31st December 2022, the Charity had annualised operating commitments under non-cancellable
operating leases expiring as follows: 2022 2021
£ £
Expiring within one year
- Land and Buildings 10,937 28,700
- Others : 1,566
10,937 30,266
Expiring within two to five years
- Land and Buildings 12,500 -
- Others - :
12,500 :
  1. CONTINGENT ASSETS

There were no contingent assets as at 31 December 2022.

  1. RELATED PARTY TRANSACTIONS

There were no related party transactions during the current or prior year.

38

The Urology Foundation annual report & financial statements 2022