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2023-06-30-accounts

The Thyroid Trust Annual Report 30 June 2023

Registered Charity number 1183292

The Thyroid Trust Annual Report 30 June 2023

Contents

Administrative details 2
Trustee Report 3
Independent Examiner’s Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11

Page 1

The Thyroid Trust Annual Report 30 June 2023

Administrative details

Name of charity The Thyroid Trust (also known as Thyroid Friends Network and TTT) Organisation type Charitable Incorporated Organisation Governing document Constitution dated 27 April 2018 Registered charity number 1183292 First registered 7 May 2019 Trustees Judith Taylor (Chair) Karen George Dr Paul Jenkins Shireen Khan (appointed 11 October 2022) Ramesh Maruthai (Treasurer, appointed 19 May 2023) Valerie Dennis (appointed 30 January 2024) Theresa Baker (deceased 02 March 2023) Stephen Hey (Treasurer, resigned 19 May 2023) Wendy Patricia Sharpe (resigned 29 January 2024) Registered office 15 Great College Street London SW1P 3RX Bankers Lloyds Bank plc Website www.thyroidtrust.org

The website includes biographies of the Trustees at https://www.thyroidtrust.org/trustees.html

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The Thyroid Trust Annual Report 30 June 2023

Trustee report

The Trustees of The Thyroid Trust (the “Charity”) have pleasure in presenting their Annual Report for the year ended 30 June 2023.

Objectives and activities

The Thyroid Trust seeks to make life better for people affected by thyroid disease by:

The priorities of the Trustees for the current financial year have been to continue to deliver regular support and information events, to expand our awareness raising and advocacy work, to put the organisation on a more sustainable footing for the future and to develop our volunteer team and fundraising efforts, while working with the challenges and constraints of the pandemic.

The Trustees have had regard to the Charity Commission’s guidance on public benefit.

Achievements and performance

Events

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The Thyroid Trust Annual Report 30 June 2023

Most of these events have taken place via Zoom. Where possible we have recorded the events and uploaded them to our YouTube channel. Our online Thyroid Café events are moderated peer support events that allow participants the opportunity to chat informally and share their experiences.

The Trust continued to hold monthly volunteer sessions over Zoom. get-together events were organised over Zoom with varying levels of attendance. There has been ongoing challenge to build our volunteer team and maintain them in such areas as communications and events. However, volunteering has diminished nationally, and it is an overall sectoral concern. We continue to recruit new volunteers to augment our volunteer pool; at present there are 76 potential/existing volunteers on the Trust’s volunteer database of whom about 20% to 25% have been involved with the Trust this year.

Further, the Trustees and the Director attended various events throughout the year to further the objectives of the Trust

Author and poet Michael Rosen has continued his support with the Trust helping us to reach a wider audience on social media. Dr.Anthony Toft, who had been a source of wise counsel to the Trust from our early days, has now retired.

The charity now has 2,359 followers on Facebook, 1,197 followers on Instagram, 5,833 followers on Twitter and 251 followers on Linkedin all continuing to rise.

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The Thyroid Trust Annual Report 30 June 2023

Advocacy

The charity’s advocacy work and relationship management were on hold for some of this reporting period due to the absence of a Director for several months.

Media coverage has included: -

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The Thyroid Trust Annual Report 30 June 2023

Volunteer activity

We are grateful for our team of volunteers who have continued to work alongside our Director, Operations Manager and Trustees, both to participate in our advocacy work and to help in the administration of our charity. We are committed to offering volunteering opportunities to patients, friends, family and interested professionals to empower them to help address the issues of most importance to them and advance our charitable objectives. We have increased our volunteer pool who have generously supported us in a variety of ways including:

For the past year we have held monthly online sessions with our volunteers to improve engagement. Based on feedback received, we developed volunteer role descriptions and these have now been published on a new area of our website dedicated to providing resources and support to our volunteers.

We are beneficiaries from two schemes which provide us with a modest commission whenever one of our supporters buys on their platforms; Amazon Smile and EasyFundraising and we receive further donations from Paypal Money Giving from supporters who choose to fundraise for us on Facebook or Ebay.

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The Thyroid Trust Annual Report 30 June 2023

Structure, governance and management

The Thyroid Trust is a Charitable Incorporated Organisation (CIO). It adopted its Constitution on 27 April 2018 and was registered with the Charities Commission on 7 May 2019. Each of the Trustees is a member of the CIO. The members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.

The Trustee Board has a breadth of professional and medical experience and includes members with first-hand experience of thyroid conditions. The Trustees meet at least four times a year. Day-today operations of the Charity are carried out by a freelance Director and an Operations Manager who report to the Trustees.

Shireen Khan joined as Trustee in October 2022. Shireen is a non-practicing barrister with experience in clinical negligence, financial regulation, healthcare regulation, professional discipline, and employment law. Shireen is a mum to a pre-schooler who experienced pregnancy related hypothyroidism temporarily along with Hyperemesis Gravidarum and has family members with thyroid disease.

Ramesh Maruthai joined in May 2023 as the Treasurer. He is a member of the Institute of Chartered Accountants of England and Wales (ICAEW) and is working as a Finance Manager with an independent oil and gas company listed in LSE. He is closely associated with the cause of the trust as his wife is also living with thyroid disease.

Lorraine Williams stood down as Director of the charity at the end of June 2022. She was replaced by Louise Sellar as the Director (Communications & Development). Louise has worked in the UK construction industry for over 17 years. Currently, she is the Sales and Marketing Director of a manufacturing company. Louise found out about the Trust in 2020 following a diagnosis of Graves' Disease. The following year, she received radioactive iodine treatment. As a result of this experience, she is passionate about raising awareness, assisting in the education of, and supporting other thyroid patients and their families. Louise started with the Trust in December 2022.

Lee Mathers, who joined us as Operations Manager in the summer of 2021 continues to support the charity with administrative and operational support, including management of our events, and coordinates a growing team of volunteers.

We were shocked and saddened to learn that our dear friend and Trustee, Theresa Baker, died suddenly and unexpectedly on 2 March 2023 at her home in London. Theresa first became involved in the London thyroid group back in 2012 and was one of the founding Trustees of the Thyroid Trust.

During the year Stephen Hey resigned as the Treasurer. We thank him for all his contributions particularly for his involvement in raising funds for supporting the activities of the Trust.

In the opinion of the Trustees there is no ultimate controlling party of the Charity.

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The Thyroid Trust Annual Report 30 June 2023

Financial review

In the year to 30 June 2023 the Charity’s income was £16,485 (2022: £41,833). We continued to receive generous support from the Federated Foundation who granted £10,000 this year like the earlier years. We received contributions of £ 1,000 from St. James’s Place Charitable Foundation and the balance £ 5,485 was raised from Community fundraising and individual donations.

Expenditure amounted to £27,132 (2022: £16,600), being primarily the cost of the Director and Operations Manager.

Reserves

At the end of June 2023, the charity held reserves of £16,000. We have no employees or other significant fixed costs and therefore we can operate with limited reserves; however, it is the intention of the Trustees to build our reserves to secure an increased level of activities in future.

Preparation of the report

The report was approved and authorised for issue by the Trustees on 22[nd] April 2024 and is signed on behalf of the Trustees by:

Trustee

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Trustee
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Page 8

The Thyroid Trust Annual Report 30 June 2023

Independent examiner’s report to the trustees of The Thyroid Trust

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 30/06/2023.

Responsibilities and basis of report

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

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

Signed:

Date: 24/04/2024

Name: Bandhu Raj Poudel FCCA

Relevant professional qualification(s) or body: ACCA

Address: 53 Tidford Road, Welling, Kent. DA16 3JX

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The Thyroid Trust Annual Report 30 June 2023 Statement of Financial Activities Statement of finanaal activities (incorporating an income and expenditure account) For theyear ended 30 June 2023 Re@stered tharity number 1183292 2023 Total 2022 Notes Total income from donations Expenditure on: Raising f u nds Charitable activfcies Support for people affected bv thyroid disease 216 128 26,916 16,472 Totsl expenditure 27,132 16,600 Net income for the year Reconciliation of f unds: 110,6481 25,233 Totsl funds brought forward 26,648 1,415 Total funds carried forward 16,000 26,648 All of the above resuths are derived from contin uing activtiies. There were no other recognised gains or losses other than those stated a bove. Movements in f unds are disclosed in Note 6 to the f inancial statements. Page 10

The Thyroid Trust Annual Report 30 June 2023

Balance sheet

Balance sheet As at 30 June 2023 Registered charity number 1183292

Notes
Current assets
Cash at bank and in hand
Liabilities:
4
Net assets
The funds of the charity
Unrestricted income funds
6
Restricted income funds
Total funds carried forward
Creditors: amounts falling due within one year		 2023
2022
£
£
19,036
29,311
19,036
29,311
(3,036)
(2,663)
16,000
26,648
16,000
17,848
8,800
16,000
26,648

Approved by the Trustees on 22nd April 2024 and signed on their behalf by:-

Trustee

Trustee

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The Thyroid Trust Annual Report 30 June 2023

Notes to the Financial Statements

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP FRS 102) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (March 2018).

The Charity meets the definition of a public benefit entity under FRS 102.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

Income

Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably. Volunteer time donated is not recognised as income.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Funds

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes of the Charity without restriction.

Debtors

Trade and other debtors include amounts where a funder has committed to settle obligations to a third party on behalf of the Charity.

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The Thyroid Trust Annual Report 30 June 2023

Cash at bank and in hand

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

Creditors and provisions

Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

5 Trustees

No Trustee received remuneration during the year (2022: nil). No Trustee was reimbursed for expenses incurred on the Charity’s behalf in the year (2022: none).

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The Thyroid Trust Annual Report 30 June 2023 Fund5 Atljuly 2022 Income Expenditure At 30June 2023 Restricted funds National Lottery Community Fund, Awards for All I8,8￿) Unrestricted funds 17,848 16,485 118,3321 16,ClXI 26,648 16,485 127,1321 16,(XXI The restricted fund at l July 2022 represents partof the amount received from the National Lottery Awards for All scheme to promote our activities in 2022. This programme was completed in the current f inancial year. Page 14