Docusign Envelope ID: D51A489B-168C-476F-9A2E-235C1DE69E0C
Charity registration number 1154755 (England and Wales)
LADY GARDEN FOUNDATION
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
Docusign Envelope ID: D51A489B-168C-476F-9A2E-235C1DE69E0C
LADY GARDEN FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Ms Jennifer Halpern Prince (Chair) |
|---|---|
| Ms Jenniffer Emanuel | |
| Baroness Helena Morrissey | |
| Ms Annalisa Jenkins | |
| Victoria Hornby | |
| Tara Swart | |
| John Butler | |
| Charity number (England and Wales) | 1154755 |
| Auditor | Ellacotts Audit Services Limited |
| Countrywide House | |
| 23 West Bar | |
| Banbury | |
| Oxfordshire | |
| England | |
| OX16 9SA | |
| Bankers | C. Hoare & Co |
| 37 Fleet Street | |
| London | |
| EC4P 4DQ |
Docusign Envelope ID: D51A489B-168C-476F-9A2E-235C1DE69E0C
LADY GARDEN FOUNDATION
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 4 |
| Independent auditor's report | 5 - 7 |
| Statement of financial activities | 8 - 9 |
| Balance sheet | 10 |
| Statement of cash flows | 11 |
| Notes to the financial statements | 12 - 21 |
Docusign Envelope ID: D51A489B-168C-476F-9A2E-235C1DE69E0C
LADY GARDEN FOUNDATION
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 JANUARY 2025
The Trustees present their report and accounts for the year ended 31 January 2025.
The financial statements have been prepared in accordance with the accounting policies set out in Note 1 and comply with the Lady Garden Foundation’s Constitution (dated 25 September 2013), the Charities Act 2011 and the Charities SORP (FRS 102), “Accounting and Reporting by Charities” (effective 1 January 2019).
Objectives and activities
The Lady Garden Foundation is a national women’s health charity, raising awareness and funding for the five gynaecological cancers. The Foundation was established in 2014, initially to fund groundbreaking research into the treatment of these cancers at The Royal Marsden NHS Foundation Trust. Over the past 10 years, the Foundation has grown from the initial campaign to yearly events, education programmes and funding cutting edge studies.
Whilst the Foundation continues to fund medical research and the improvement of treatment for gynaecological cancers, the mission of the charity also focuses on raising awareness of these cancers and their symptoms. Despite significant progress, the mortality rate of gynaecological cancers remains high, particularly for cancers discovered at a later stage. Key to tackling gynaecological cancers is a focus on prevention, reducing stigma, increasing awareness and tackling the myths that often surround gynaecological health.
The Lady Garden Foundation contributes to the prevention and treatment of gynaecological cancers through three core activities:
Raising Awareness of gynaecological cancers and their symptoms
Increasing knowledge and understanding of the prevention and early detection of gynaecological cancers
Enabling on new research and treatments for gynaecological cancers
We achieve these aims through high profile campaigns, our ground breaking early intervention and prevention programme in universities and the allocation of funding for targeted research and treatment support through our expert Scientific Committee.
This year the Trustees are pleased to report another successful year for the University Education Programme. Through the ‘Give Your Fanny Five’ campaign, the Foundation engaged with 20 university Freshers’ Fairs, reaching more than 120,000 students with life-saving gynaecological health information. Alongside this, the Foundation distributed over 26,000 copies of The Vagina Dialogues, a digital and print resource outlining symptoms, selfadvocacy language, patient rights and a symptom-tracking tool. Evaluation showed strong impact, with over 90% of students reporting improved understanding of gynaecological health and 77% feeling empowered to act on potential symptoms.
Building on this success, the Foundation expanded its awareness and education work beyond university audiences. Two major public awareness campaigns were delivered during the period:
1. ‘Vulval Blooms’ Campaign
Timed to coincide with the RHS Chelsea Flower Show, this campaign utilised outdoor advertising across London and targeted social media for women over 65—those most at risk of vulval cancer. CGI imagery and creative messaging directed audiences to the Error in formula ->#loveyourladygarden<- care guide, which received over 20,000 views. Website traffic increased by 365% during the campaign month, with strong engagement and positive community feedback.
2. ‘Don’t Beat Around the Bush’ – Cervical Cancer Prevention Week 2025
This campaign sought to dispel myths and address barriers to cervical screening. Commissioned research among women aged 30–45 revealed that 46% were intentionally delaying screening, with embarrassment cited by 42% as a key barrier. Activity included creative influencer partnerships, the distribution of visual ‘vulval bushes’, and targeted gardening-focused content, collectively reaching over 236,000 people.
The Trustees are encouraged by the impact of these programmes and intend to continue investing in public education and awareness initiatives aligned with the Foundation’s charitable objectives.
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LADY GARDEN FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
Achievements and performance
The Trustees are pleased to report that the Foundation continued to build on the strong performance of previous years, significantly improving fundraising margins through a clear focus on financial targets and strengthened strategic brand management.
Major fundraising events included:
-
Lady Garden Gala (March 2024): Raised £1,038,341, supported by Telus as Silver Sponsor.
-
Lady Garden Foundation Family Challenge (April 2024): Raised £106,219, delivered in partnership with KX and ME+EM.
• Lady Garden Ladies Lunch (2024): Raised £176,531 and generated more than 50 million editorial impressions.
The Trustees were delighted that the Major Donor Events, especially the Lady Garden Gala, were more successful than planned.
The Trustees express their gratitude to all partners, sponsors, volunteers and supporters whose contributions have enabled the Foundation to sustain and expand its work during the year.
Financial review
Reserves Policy
The Foundation aims to maintain a minimum of £36,000 in available reserves. This money is held within designated funds as its own fund to cover at least three months expenditure in the event of a lack of funding. At the accounting date the Foundation has reserves of £1,346,667 which is significantly above the reserves policy in anticipation of significant grants to new research projects and the rolling out of the national education programme during the next accounting period. Given the challenging economic environment, the trustees believe that it is prudent to fundraise in advance of allocating funds. The Trustees were delighted that the Major Donor Events, especially the Lady Garden Gala, were more successful than planned. In response to this success, we will be allocating additional funding in 2026 across all programmes including the University Education Programme, the Royal Marsden Scientific Committee, and National Awareness Campaigns (see note 22 to the financial statements).
Principal Funding Sources
The principal funding sources are voluntary donations together with monies raised by the various fundraising events as set out in our achievements and performance.
Consultant and other support
During the accounting period, the Foundation employed four roles; a Brand Manager, an Events and Fundraising Executive, a Communications and Awareness Executive Co-founder and Chair, Ms Jennifer Halpern Prince, provides her time on a pro bono rate. Part time consultant support was also provided by Jen Burner on a significantly discounted rate. Public relations support and office space was generously provided throughout the accounting period by Halpern at a discounted rate.
Risk Management
The Trustees regularly review the major risks to which the Foundation is exposed and take steps to mitigate these risks, particularly in the area of financial management.
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LADY GARDEN FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
Structure, governance and management
The trustees who served during the year and up to the date of signature of the financial statements were:
Ms Jennifer Halpern Prince (Chair) Ms Jenniffer Emanuel Baroness Helena Morrissey Ms Annalisa Jenkins Victoria Hornby Tara Swart John Butler
Recruitment and appointment of trustees
Under the terms of the Constitution the power of appointing new charity trustees lies with the current Trustees.
The Foundation retained its status as a registered member of the ICO and The Fundraising Regulator during this accounting period. The Foundation also continued to invest in GDPR compliant automated software to ensure continued compliance during the Foundation’s rapid growth.
At regular meetings the Trustees agree on a board strategy and areas of activity for the Foundation. This includes the consideration of grant making, reserves and risk management policies as well as performance and targets.
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of Lady Garden Foundation and of the incoming resources and application of resources of Lady Garden Foundation for that year.
In preparing these accounts, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and
-
prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of Lady Garden Foundation and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. They are also responsible for safeguarding the assets of Lady Garden Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The law applicable to charities in England and Wales 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 Lady Garden Foundation and of the incoming resources and application of resources of the Lady Garden Foundation for that year.
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Docusign Envelope ID: D51A489B-168C-476F-9A2E-235C1DE69E0C
LADY GARDEN FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Lady Garden Foundation and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Lady Garden Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees' report was approved by the Board of Trustees.
.............................. Jenwufur Kalpuw Prive
..............................
Ms Jennifer Halpern Prince (Chair)
Trustee
26/11/2025 | 20:30 GMT Date: .............................................
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Docusign Envelope ID: D51A489B-168C-476F-9A2E-235C1DE69E0C
LADY GARDEN FOUNDATION
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF LADY GARDEN FOUNDATION
Opinion
We have audited the financial statements of Lady Garden Foundation (the ‘Lady Garden Foundation’) for the year ended 31 January 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows 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:
-
give a true and fair view of the state of the charity’s affairs as at 31 January 2025 and of its incoming resources and application of resources, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Lady Garden Foundation 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 Lady Garden Foundation’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
-
the information given in the financial statements is inconsistent in any material respect with the Trustees' report; or
-
sufficient accounting records have not been kept; or
-
the financial statements are not in agreement with the accounting records; or
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we have not received all the information and explanations we require for our audit.
-
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LADY GARDEN FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF LADY GARDEN FOUNDATION
Responsibilities of trustees
As explained more fully in the statement of Trustees' responsibilities, the trustees 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 Lady Garden Foundation’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 cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor 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 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.
Extent to which the audit was considered capable of detecting irregularites, including fraud
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.
As part of an audit in accordance with ISAs (UK),we exercise professional judgment and maintain professional scepticism throughout the audit. We also performed the following procedures:
Enquiry of management and those charged with governance around actual and potential litigation and claims. Enquiry of entity staff in compliance functions to identify any instances of non-compliance with laws and regulations.
Reviewing minutes of trustee meetings.
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
Reviewed income and expenditure to ensure classified to the appropriate fund.
Auditing the risk of management override of controls, including thorough testing of journal entries and other adjustments for appropriateness, and evaluating the rationale of significant transactions outside the normal course of business for the charity.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charity’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 charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
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Docusign Envelope ID: D51A489B-168C-476F-9A2E-235C1DE69E0C
LADY GARDEN FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF LADY GARDEN FOUNDATION
Leigh Dudley FCCA (Senior Statutory Auditor)
For and on behalf of Ellacotts Audit Services Limited, Statutory Auditor Chartered Accountants Countrywide House 23 West Bar Banbury Oxfordshire OX16 9SA England 28/11/2025 | 09:22 GMT Date: .........................
Ellacotts Audit Services Limited is eligible for appointment as auditor of the Lady Garden Foundation by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
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LADY GARDEN FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JANUARY 2025
| Current financial year | Unrestricted | Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | ||||
| general | designated | |||||
| 2025 | 2025 | 2025 | 2025 | 2024 | ||
| Notes | £ | £ | £ | £ | £ | |
| Income from: | ||||||
| Donations and legacies | 3 | 445,240 | - | - | 445,240 | 285,226 |
| Other trading activities | 4 | 1,388,005 | - | - | 1,388,005 | 306,836 |
| Investments | 5 | 12,508 | - | - | 12,508 | 6,312 |
| Total income | 1,845,753 | - | - | 1,845,753 | 598,374 | |
| Expenditure on: | ||||||
| Raising funds | 7 | 460,836 | - | 90,355 | 551,191 | 349,151 |
| Charitable activities | 6 | 596,950 | - | - | 596,950 | 396,384 |
| Total expenditure | 1,057,786 | - | 90,355 | 1,148,141 | 745,535 | |
| Net income/(expenditure) | 787,967 | - | (90,355) | 697,612 | (147,161) | |
| Net movement in funds | 9 | 787,967 | - | (90,355) | 697,612 | (147,161) |
| Reconciliation of funds: | ||||||
| Fund balances at 1 February 2024 | 522,700 | 36,000 | 90,355 | 649,055 | 796,216 | |
| Fund balances at 31 January 2025 | 1,310,667 | 36,000 | - | 1,346,667 | 649,055 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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Docusign Envelope ID: D51A489B-168C-476F-9A2E-235C1DE69E0C
LADY GARDEN FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JANUARY 2025
| Prior financial year | Unrestricted | Unrestricted | Restricted | Total | |
|---|---|---|---|---|---|
| funds | funds | funds | |||
| general | designated | ||||
| 2024 | 2024 | 2024 | 2024 | ||
| Notes | £ | £ | £ | £ | |
| Income from: | |||||
| Donations and legacies | 3 | 194,871 | - | 90,355 | 285,226 |
| Other trading activities | 4 | 306,836 | - | - | 306,836 |
| Investments | 5 | 6,312 | - | - | 6,312 |
| Total income | 508,019 | - | 90,355 | 598,374 | |
| Expenditure on: | |||||
| Raising funds | 7 | 349,151 | - | - | 349,151 |
| Charitable activities | 6 | 24,739 | 371,645 | - | 396,384 |
| Total expenditure | 373,890 | 371,645 | - | 745,535 | |
| Net income/(expenditure) | 134,129 | (371,645) | 90,355 | (147,161) | |
| Transfers between funds | (306,849) | 306,849 | - | - | |
| Net movement in funds | 9 | (172,720) | (64,796) | 90,355 | (147,161) |
| Reconciliation of funds: | |||||
| Fund balances at 1 February 2023 | 695,420 | 100,796 | - | 796,216 | |
| Fund balances at 31 January 2024 | 522,700 | 36,000 | 90,355 | 649,055 |
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Docusign Envelope ID: D51A489B-168C-476F-9A2E-235C1DE69E0C
LADY GARDEN FOUNDATION
BALANCE SHEET
AS AT 31 JANUARY 2025
| 2025 | 2024 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |||
| Current assets | |||||||
| Debtors | 13 | 16,096 | 182,502 | ||||
| Cash at bank and in hand | 1,347,602 | 652,974 | |||||
| 1,363,698 | 835,476 | ||||||
| Creditors: amounts falling due within | 14 | ||||||
| one year | (17,031) | (186,421) | |||||
| Net current assets | 1,346,667 | 649,055 | |||||
| The funds of the Lady Garden Foundation | |||||||
| Restricted income funds | 15 | - | 90,355 | ||||
| Unrestricted funds - general | 17 | 1,310,667 | 522,700 | ||||
| Unrestricted funds - designated | 16 | 36,000 | 36,000 | ||||
| 1,346,667 | 649,055 |
26/11/2025 | 20:30 GMT The financial statements were approved by the trustees on .........................
.............................. Jenwufur Kalpuw Prive
Ms Jennifer Halpern Prince (Chair)
Trustee
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Docusign Envelope ID: D51A489B-168C-476F-9A2E-235C1DE69E0C
LADY GARDEN FOUNDATION
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JANUARY 2025
| 2025 | 2024 | |||||
|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | ||
| Cash flows from operating activities | ||||||
| Cash generated from/(absorbed by) | 20 | |||||
| operations | 682,120 | (136,532) | ||||
| Investing activities | ||||||
| Investment income received | 12,508 | 6,312 | ||||
| Net cash generated from investing activities | 12,508 | 6,312 | ||||
| Net cash generated from financing activities | - | - | ||||
| Net increase/(decrease) in cash and cash | ||||||
| equivalents | 694,628 | (130,220) | ||||
| Cash and cash equivalents at beginning of year | 652,974 | 783,194 | ||||
| Cash and cash equivalents at end of year | 1,347,602 | 652,974 |
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Docusign Envelope ID: D51A489B-168C-476F-9A2E-235C1DE69E0C
LADY GARDEN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
1 Accounting policies
Charity information
Lady Garden Foundation is a charity registered with the Charity Commission (Charity No. 1154755). The principal address is 17 Gresse Street, 6 Evelyn Yard, London, W1T 1QL.
1.1 Accounting convention
These accounts have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102, the Charities Act 2011 and UK Generally Accepted Accounting Practice as it applies from 1 January 2019. Lady Garden Foundation is a Public Benefit Entity as defined by FRS 102.
The accounts are prepared in sterling, which is the functional currency of Lady Garden Foundation. Monetary amounts in these financial statements are rounded to the nearest £.
1.2 Going concern
At the time of approving the accounts, the trustees have a reasonable expectation that Lady Garden Foundation has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.
1.3 Charitable funds
Unrestricted general funds are funds that can be used in accordance with the charitable objects at the discretion of the trustees.
Restricted funds are funds which are to be used in accordance with the specific requirements set by the donor.
1.4 Income
Grants/sponsorship/donations are recognised in incoming resources in the period in which they are receivable, except as follows:
when donors specify that grants/donations given to the charity must be used in future accounting periods, the income is deferred until those periods.
when donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred and not included in incoming resources until the preconditions for use are met.
Donations of goods for resale are included in incoming resources at the sale value, once sold.
Investment income is recognised on a receivable basis.
Voluntary income is received by way of donations and gifts is included in incoming resources when receivable.
The value of services provided by volunteers has been included where material to the charity and measurable.
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Docusign Envelope ID: D51A489B-168C-476F-9A2E-235C1DE69E0C
LADY GARDEN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Charitable expenditure in the form of donations payable is accounted for as and when approved by the Trustees. All other expenditure is included within the accounting period which it is incurred.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity.
1.6 Cash and cash equivalents
Cash at bank and in hand includes deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
1.7 Financial instruments
The Lady Garden Foundation has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Lady Garden Foundation's balance sheet when the Lady Garden Foundation becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
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Docusign Envelope ID: D51A489B-168C-476F-9A2E-235C1DE69E0C
LADY GARDEN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
1 Accounting policies
(Continued)
Derecognition of financial liabilities
Financial liabilities are derecognised when the Lady Garden Foundation’s contractual obligations expire or are discharged or cancelled.
1.8 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Lady Garden Foundation is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of Lady Garden Foundation’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The Trustees do not believe there to be any estimates or judgements which have significant risk of causing a material adjustment to the carrying amount of assets and liabilities.
3 Income from donations and legacies
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | |
| £ | £ | £ | £ | £ | £ | |
| Donations and gifts | 150,732 | - | 150,732 | 177,282 | 90,355 | 267,637 |
| Donated goods and | ||||||
| services | 294,508 | - | 294,508 | 17,589 | - | 17,589 |
| 445,240 | - | 445,240 | 194,871 | 90,355 | 285,226 |
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Docusign Envelope ID: D51A489B-168C-476F-9A2E-235C1DE69E0C
LADY GARDEN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
4 Other trading activities
==> picture [464 x 172] intentionally omitted <==
----- Start of picture text -----
||||
|---|---|---|
|Unrestricted|Unrestricted|
|funds|funds|
|general|general|
|2025|2024|
|£|£|
|Fortnum & Mason Ladies Lunch|176,531|150,130|
|-|
|Lady Garden Gala|1,038,341|
|Lady Garden Run|106,219|103,919|
|Carol Service|28,677|27,787|
|Gillette Partnership|22,500|15,000|
|Ovarian Cancer Month Appeal|15,737|10,000|
|Other trading activities|1,388,005|306,836|
----- End of picture text -----
5 Income from investments
==> picture [464 x 71] intentionally omitted <==
----- Start of picture text -----
||||
|---|---|---|
|Unrestricted|Unrestricted|
|funds|funds|
|2025|2024|
|£|£|
|Interest receivable|12,508|6,312|
----- End of picture text -----
- 15 -
Docusign Envelope ID: D51A489B-168C-476F-9A2E-235C1DE69E0C
LADY GARDEN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
6 Expenditure on charitable activities
| Charitable | Charitable | |
|---|---|---|
| activities | activities | |
| 2025 | 2024 | |
| £ | £ | |
| Direct costs | ||
| Donations to The Royal Marsden | - | 371,645 |
| General charitable expenditures | 15,091 | - |
| Donated Office space | 17,589 | 17,589 |
| Education and awareness | 534,571 | - |
| 567,251 | 389,234 | |
| Share of support and governance costs (see note 8) | ||
| Support | 29,699 | - |
| Governance | - | 7,150 |
| 596,950 | 396,384 | |
| Analysis by fund | ||
| Unrestricted funds - general | 596,950 | 24,739 |
| Unrestricted funds - designated | - | 371,645 |
| 596,950 | 396,384 |
7 Expenditure on raising funds
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | |
| £ | £ | £ | £ | £ | £ | |
| Fundraising and publicity | ||||||
| Seeking donations, grants | Seeking donations, grants | |||||
| and legacies | 6,091 | - | 6,091 | 27,132 | - | 27,132 |
| Event fundraising | 253,785 | 90,355 | 344,140 | 113,036 | - | 113,036 |
| Other fundraising costs | 79,267 | - | 79,267 | 133,510 | - | 133,510 |
| Staff costs | 69,963 | - | 69,963 | 55,191 | - | 55,191 |
| Support costs | 51,730 | - | 51,730 | 20,282 | - | 20,282 |
| 460,836 | 90,355 | 551,191 | 349,151 | - | 349,151 |
- 16 -
Docusign Envelope ID: D51A489B-168C-476F-9A2E-235C1DE69E0C
LADY GARDEN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
8 Support costs allocated to activities
| 8 | Support costs allocated to activities | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Staff costs | 29,527 | 5,979 | |
| Accountancy Fees | 20,540 | 8,348 | |
| Just giving processing charges | 612 | 832 | |
| Other administration costs | 7,971 | 4,099 | |
| Legal and professional costs | 13,038 | 150 | |
| Pension costs | 1,441 | 874 | |
| Governance costs | 8,300 | 7,150 | |
| 81,429 | 27,432 | ||
| Analysed between: | |||
| Fundraising | 51,730 | 20,282 | |
| Charitable activities | 29,699 | 7,150 | |
| 81,429 | 27,432 | ||
| 9 | Net movement in funds | 2025 | 2024 |
| £ | £ | ||
| The net movement in funds is stated after charging/(crediting): | |||
| Fees payable for the audit of the charity's financial statements | 8,300 | 7,150 |
10 Trustees
None of the trustees (or any persons connected with them) received any remuneration during the year.
11 Employees
The average monthly number of employees during the year was:
| 2025 | 2024 | |
|---|---|---|
| Number | Number | |
| 4 | 3 | |
| Employment costs | 2025 | 2024 |
| £ | £ | |
| Wages and salaries | 95,991 | 58,079 |
| Social security costs | 3,499 | 3,091 |
| 99,490 | 61,170 |
There were no employees whose annual remuneration was more than £60,000.
- 17 -
Docusign Envelope ID: D51A489B-168C-476F-9A2E-235C1DE69E0C
LADY GARDEN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
11 Employees
(Continued)
Remuneration of key management personnel
The remuneration of key management personnel for the year was £38,438 (2024: £30,347).
12 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
13 Debtors
| Debtors | ||
|---|---|---|
| 2025 | 2024 | |
| Amounts falling due within one year: | £ | £ |
| Trade debtors | 3,403 | 73,843 |
| Other debtors | 3,766 | 1,304 |
| Prepayments and accrued income | 8,927 | 107,355 |
| 16,096 | 182,502 |
14 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | |||
|---|---|---|---|
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Other taxation and social security | 2,312 | 210 | |
| Deferred income | - | 168,769 | |
| Trade creditors | 4,673 | 9,223 | |
| Other creditors | 171 | 244 | |
| Accruals | 9,875 | 7,975 | |
| 17,031 | 186,421 |
15 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| At 1 February | Incoming | Resources | At 31 January | |
|---|---|---|---|---|
| 2024 | resources | expended | 2025 | |
| £ | £ | £ | £ | |
| as restated | ||||
| Lady Garden Gala | 90,355 | - | (90,355) | - |
| Previous year: | At 1 February | Incoming | Resources | At 31 January |
| 2023 | resources | expended | 2024 | |
| £ | £ | £ | £ | |
| Lady Garden Gala | - | 90,355 | - | 90,355 |
- 18 -
Docusign Envelope ID: D51A489B-168C-476F-9A2E-235C1DE69E0C
LADY GARDEN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
15 Restricted funds
(Continued)
Lady Garden Gala
The Lady Garden Gala fund relates to donations made in respect of the 2024 Lady Garden Gala event which will take place following the year end.
16 Unrestricted funds - designated
These are unrestricted funds which have been designated by the charity for specific purposes.
| At 1 February | Resources | Transfers At 31 January | Transfers At 31 January | |
|---|---|---|---|---|
| 2024 | expended | 2025 | ||
| £ | £ | £ | £ | |
| as restated | ||||
| Contingency fund | 36,000 | - | - | 36,000 |
| Previous year: | At 1 February | Resources | Transfers At 31 January | |
| 2023 | expended | 2024 | ||
| £ | £ | £ | £ | |
| as restated | as restated | |||
| Contingency fund | 36,000 | - | - | 36,000 |
| Royal Marsden fund | 64,796 | (371,645) | 306,849 | - |
| 100,796 | (371,645) | 306,849 | 36,000 |
17 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used.
| At 1 February | Incoming | Resources | Transfers At 31 January | Transfers At 31 January | |
|---|---|---|---|---|---|
| 2024 | resources | expended | 2025 | ||
| £ | £ | £ | £ | £ | |
| as restated | |||||
| General funds | 522,700 | 1,845,753 | (1,057,786) | - | 1,310,667 |
| Previous year: | At 1 February | Incoming | Resources | Transfers At 31 January | |
| 2023 | resources | expended | 2024 | ||
| £ | £ | £ | £ | £ | |
| as restated | as restated | ||||
| General funds | 695,420 | 508,019 | (373,890) | (306,849) | 522,700 |
- 19 -
Docusign Envelope ID: D51A489B-168C-476F-9A2E-235C1DE69E0C
LADY GARDEN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
18 Analysis of net assets between funds
| Unrestricted | Unrestricted | Restricted | Total | |
|---|---|---|---|---|
| funds | funds | funds | ||
| general | designated | |||
| 2025 | 2025 | 2025 | 2025 | |
| £ | £ | £ | £ | |
| At 31 January 2025: | ||||
| Current assets/(liabilities) | 1,310,667 | 36,000 | - | 1,346,667 |
| 1,310,667 | 36,000 | - | 1,346,667 | |
| Unrestricted | Unrestricted | Restricted | Total | |
| funds | funds | funds | ||
| general | designated | |||
| 2024 | 2024 | 2024 | 2024 | |
| £ | £ | £ | £ | |
| At 31 January 2024: | ||||
| Current assets/(liabilities) | 522,700 | 36,000 | 90,355 | 649,055 |
| 522,700 | 36,000 | 90,355 | 649,055 |
19 Related party transactions
There were £108,814 related party transactions during the year (2024 - none). An amount of £101,537 relates to services provided by Halpern Ltd, a company founded by Jennifer Halpern-Prince, for ongoing media and marketing activities. The market value of these costs is £378,456, and as such a donation in kind and corresponding expense has been recognised amounting to £276,919. Additionally, £5,883 of costs were incurred as administrative costs associated with the use of Halpern Ltd's office facilities. Jennifer HalpernPrince had expenses of £1,395 reimbursed in relation to general business expenses. These costs were incurred while attending trustees' meetings and covering general office-related expenditures.
| 20 | Cash generated from/(absorbed by) operations | 2025 | 2024 |
|---|---|---|---|
| £ | £ | ||
| Surplus/(deficit) for the year | 697,612 | (147,161) | |
| Adjustments for: | |||
| Investment income recognised in statement of financial activities | (12,508) | (6,312) | |
| Movements in working capital: | |||
| Decrease/(increase) in debtors | 166,406 | (135,796) | |
| (Decrease) in creditors | (621) | (16,032) | |
| (Decrease)/increase in deferred income | (168,769) | 168,769 | |
| Cash generated from/(absorbed by) operations | 682,120 | (136,532) |
- 20 -
Docusign Envelope ID: D51A489B-168C-476F-9A2E-235C1DE69E0C
LADY GARDEN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
21 Analysis of changes in net funds
The Lady Garden Foundation had no material debt during the year.
22 Events after the reporting date
In line with the Foundation’s prudent financial approach, and given the ongoing economic uncertainty, the Trustees do not commit funds ahead of time to charitable activities until income has been fully secured. As a result of significantly higher-than-anticipated fundraising success during the financial year, a significant portion of income was not allocated to charitable expenditure before the period end.
Following the close of the financial period, the Trustees approved and subsequently spent £524,481 with The Royal Marsden Cancer Charity to support gynaecological specialist roles and a further set of selected research projects overseen by its Scientific Committee. The Trustees also approved and have now spent £195,719 on the expansion and rollout of the Foundation’s University Education Programme in the subsequent financial year.
- 21 -