GYNAE-ONCOLOGY RESEARCH AND CLINICAL EXCELLENCE (GRACE) Charitable Incorporated Organisation
Registered Charity Number 1189729
Report and Financial Statements
For the year ended 31 March 2025
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GRACE (Registered Charity No 1189729)
Report of the trustees for the period ending 31 March 2025
The trustees are pleased to present their annual report together with the financial statements of the charity for the ten month period ended 31 March 2025.
The financial statements comply with the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102)(effective 1 January 2019).
Chair’s Report
Research
The charity continues to support research into gynaecological cancers, help support patients, before and after, having to undergo treatment and supply local hospitals with vital surgical equipment. Current research projects continue to be supported which are underpinned by existing, and new, fundraising opportunities. New researched proposals are assessed if they can be supported within the charity’s existing cash flow predictions. Note 7 highlights the current support being given by GRACE.
Fundraising
The 2024/25 financial year was positive for GRACE, with not only seeing us make our first non-deficit year since Covid, but also in that we started to undertake transformational change in the work we do.
Following the success of our counselling support pilot in 2024, concluding in November, we were able to launch the full service in house from the start of January 2025 and are now working with three counsellors to deliver both one to one counselling and therapeutic peer group work, this includes an online group that meets on Monday evenings, outside of core working hours. This work is integral to our fundraising focus and efforts.
The income GRACE generated in this financial year came through a combination of event-based activity, product sales and third-party support. This included our Glitter & GRACE Autumn Ball in October 2024, and the Churt Car Show at the very start of April 2025, with income resulting from this event crossing over between the two financial years. We also attended two key Christmas shopping events, one in Reigate and one in Andover, which helped contribute to our product sales over the year. We also launched our own fundraising and awareness campaign, Challenge60, to mark September’s Gynae Cancer Awareness Month. This campaign is in tribute to the 60 women a day who are diagnosed with a form of gynae cancers and helped raise both invaluable awareness and income for the charity.
Having raised our first surplus since the pandemic, the charity has moved into the next financial year with positivity and a new three to five year strategy that is focussed on both sustaining the charity and increasing our reach to women who are diagnosed with these cancers. Our focus for the coming year will see us increase efforts to achieve grants and trust funding so we can expand our support services, as well as make efforts to grow the team to better enable us to do this. We will also be seeking to better understand the demographics of the women we are here to serve and to ensure we deliver outreach work to help us do better at reaching more underserved groups within our geographical network.
This, along with our day to day support services and research work, is in line with our purpose to ensure that women diagnosed with gynae cancers don’t just live but live well.
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GRACE (Registered Charity No 1189729)
Trustees
The Charity would not exist without the trustees who voluntarily give their time and effort to help run and manage the Charity. My thanks go to them.
Simon Butler-Manuel Chair
Our purposes and activities
GRACE was established in 2005 to improve the prognosis and survival rates for women with gynaecological cancers, a desperately neglected area of medicine. Since then a unique service for the gynaecological cancers has been established at St. Luke’s Cancer Centre, Guildford, supporting a clinical network across Surrey, Sussex and Hampshire delivering equity of high-quality care. GRACE uses its funds to raise awareness, patient support, purchase equipment, fund research and has contributed to the development of a centre of excellence for the treatment of gynaecological cancers, with a growing national and international reputation.
GRACE’s Mission
GRACE exists to improve the lives of women diagnosed with gynaecological cancers. It aims to improve the detection and treatment of these cancers through raising awareness and funding research and pioneering medical equipment. Within its core work is its provision of emotional support to women through access to peer networks and funded therapeutic services.
GRACE’s trustee board includes leading gynae oncologists and surgeons. The charity supports the delivery of clinical excellence and high-quality care within the Southeast with a primary focus on Surrey, West Sussex, Hampshire and Berkshire.
Achievements and performance
Over the last twelve months the Charity has spent £19.0k (2024: £32.3k) funding research, research related projects and peer support for women who have been diagnosed. During the year the GRACE has established in-house counsellor support for its patients.
Financial review for the period
Total surplus for the twelve-month period was £14,943 (2024: deficit £4,672). Overall revenue is up by £13.8k but the origin of revenue is not predictable. Individual donations were down by £8.4k on last year, yet third party fundraising by individuals had increased by £11.6k. Certain fundraising activities did not take place, like The Big Give, Pink Tie and Vision4Sport which reduced revenue by £17.8k, however, the GRACE Ball raised £38.1k (net £25.6k). Also, during the year GRACE hosted a Robotics course at Guildford which raised a further £6.7k of revenue (net surplus of £2.3k). During the year no new funding grants were awarded and the Mirrors grant (Intuitive Foundation restricted funding) was released as costs were incurred. GRACE benefitted from higher interest rates during the year on its deposit account.
Within expenditure, GRACE reduced staff costs by £7.0k due to the resignation and redundancy of two salaried staff. Fundraising cost are higher due to the total cost of running the GRACE Ball and Robotics course of £16.9k. As mentioned above the cost incurred of £4.2k for the RCT Mirrors trial was match with the grant received. In November 2023 GRACE contracted with The Fountain Centre to provide a trial twelvemonth counselling service for GRACE women for £14.2k, following the trial the contract was not renewed. GRACE has now initiated its own counselling service, using
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GRACE (Registered Charity No 1189729)
independent counsellors. During this year GRACE has incurred £2.2k for peer support and counselling service.
Overall, the financial position of the Charity remains stable and has improved over last year. With current, unrestricted, annual running costs of £68.6k and existing, unrestricted, net assets of £89.5k there are sufficient funds to cover its running costs for at least fifteen months. The charity endeavours to retain sufficient reserves to continue running the charity and its research funding for at least eighteen months. Future and proposed cash commitments are being evaluated in the light of GRACE’s cash forecast position.
Investment powers and policy
The trustees, having regard to the liquidity requirements of the charity, maintain funds which are readily accessible.
Reserve’s policy and going concern
The Charity is in a fortunate position where it is not committed to any long-term liabilities other than those projects covered by restricted funds. Nevertheless, it is deemed prudent for the Trustees to ensure there are sufficient unrestricted reserves to ensure the continued running of the Charity and its research funding for at least eighteen months.
GRACE continues to consider the future expected cash flows of the charity and its status as a going concern. Following this exercise, using conservative assumptions, the trustees conclude the charity remains a going concern.
Reserves Policy will be reviewed annually at the end of each financial year.
Plans for future periods
GRACE will continue to provide funding support to research and awareness of gynaecological cancers. The Charity offers peer support and counselling for women who have been diagnosed with cancer and will look to further expand this resource in addition to further medical research and related opportunities.
Structure, Governance and Management
The Trustees are responsible for managing the affairs of the charity.
The Board of Trustees are governed by the Charity’s constitution which is the Model Constitution of a Charitable Incorporated Organisation.
Trustees are appointed for a fixed term at which point they may be re-elected or resign. In appointing a new individual as a Trustee, the Trustees must have regard to skills, knowledge and experience needed for the effective management of the Charity.
The Trustees confirm that they have had due regard to the Charity Commission’s guidance on public benefit in reviewing the charity’s aims and objectives, in planning future activities and in compiling this report.
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GRACE (Registered Charity No 1189729)
Reference and administrative details
Charity number: 1189729 Registered office: Department of Gynae-oncology, The Royal Surrey County Hospital Egerton Road Guildford Surrey, GU2 7XX Our advisors Independent examiner Anne Jenkins FCA, Darbyns Brook Littleford Lane Shamley Green GU5 0RH Bankers CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ Our trustees Trustees: Simon Butler-Manuel (Chair/Director) Richard Willacy (Treasurer) Dr Agnieszka Michael Jay Chatterjee Lynn Vellin Christian Wells
Trustees’ responsibility in relation to the financial statements
The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable Charity Law, Charities Act 2011 and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity Law and the Charities Act 2011 requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period.
In preparing the financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and estimates that are reasonable and prudent;
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state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them
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Independent Examiners Report on the Accounts Report to the Trustees of GRACE (Registered Charity No 1189729)
I report to the charity trustees on my examination of the accounts of the Charitable Incorporated Organisation, GRACE, for the year ended 31 March 2025, which are set out on pages 8 to 17.
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 Charity’s accounts carried out under section 145 of the Act. In carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 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 giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
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that the accounts do not accord with those records; or
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that the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than the requirement that the accounts give a “true and fair view” which is not a matter considered as part of an independent examination.
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
Anne Jenkins FCA, Darbyns Brook Littleford Lane Shamley Green GU5 0RH
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GRACE (Registered Charity No 1189729) Statement of Financial Activities (SOFA) For the Period Ending 31 March 2025
| Notes Income: Donations and legacies 2 Income from charitable activities: Fund raising 3 Income from other activities: Grants Investment income 4 Total income Expenditure Cost of raising funds Cost of generating voluntary income 5 Fund raising costs 5 Expenditure on charitable activities 5 Total expenditure Net movement in funds from operating activities Net gains/(losses) on investments Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds: Funds transferred Total funds carried forward |
Unrestricted Funds 12 Month Period to 31 March 2025 £ Restricted Funds 12 Month Period to 31 March 2025 £ 11,056 - 70,799 - - 8,930 1,685 - 83,540 8,930 (37,558) - (20,969) - (10,070) (8,930) (68,597) (8,930) 14,943 - - - 14,943 - - - 14,943 - 133,340 - 148,283 - |
All Funds 12 Month Period to 31 March 2025 £ All Funds 12 Month Period to 31 March 2024 £ 11,056 20,267 70,799 39,231 8,930 18,106 1,685 1,065 92,470 78,669 (37,558) (43,888) (20,969) (7,114) (19,000) (32,339) (77,527) (83,341) 14,943 (4,672) - - 14,943 (4,672) - - 14,943 (4,672) 133,340 138,012 148,283 133,340 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure are derived from continuing activities.
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GRACE (Registered Charity No 1189729) Balance Sheet For the Period Ending 31 March 2025
| Notes Fixed Assets: Tangible assets 8 Total Fixed Assets Investments Current Assets: Stock Debtors 9 Cash at bank and in hand 10 Total Current Assets Liabilities Creditors due within one year 11 Net Current Assets Total assets less current liabilities Net Assets The funds of the charity: Unrestricted Fund 12 Restricted Fund 12 Total charity funds |
31 March 2025 £ 367 367 - 4,268 2,069 202,167 208,504 (60,588) 147,916 148,283 148,283 89,468 58,815 148,283 |
31 March 2024 £ 763 763 - - 2,616 167,750 170,366 (37,789) 132,577 133,340 133,340 98,500 34,840 133,340 |
|---|---|---|
The notes on pages 11 to 17 form part of these financial statements.
Approved by the Board of Trustees on __ and signed on its behalf by: 04/11/2025
Richard Willacy Treasurer/Trustee
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GRACE (Registered Charity No 1189729) Cash Flow For the Period Ending 31 March 2025
| Cash flows from operating activities Cash flows from investing activities Dividends and interest Purchase of property, plant and equipment, investments Net cash provided by (used in) investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period Analysis of cash and cash equivalents Cash in hand Reconciliation of net movement in funds to net cash flow from operating activities Net movement in funds for the reporting period (as per the statement of financial activities) Adjustments for: Depreciation charges Dividends and interest (Increase)/decrease in current assets Increase/(decrease) in current creditors Net cash provided by (used in) operating activities |
12 months period to 31 March 2025 £ 32,732 1,685 - 1,685 34,417 167,750 202,167 31 March 2025 £ 202,167 12 Month period to 31 March 2025 £ 14,943 396 (1,685) (3,721) 22,799 32,732 |
12 months period to 31 March 2024 £ 2,894 |
|---|---|---|
| 1,065 (575) |
||
| 490 | ||
| 3,383 164,367 |
||
| 167,750 | ||
| 31 March 2024 £ 167,750 |
||
| 12 Month period to 31 March 2024 £ (4,672) 457 (1,065) (786) 8,960 |
||
| 2,894 |
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GRACE (Registered Charity No 1189729) Notes to the Accounts 31 March 2025
1. Accounting Policies
[a] 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 2019) - (Charities SORP (FRS 102)). GRACE meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). GRACE accounts have been prepared on the basis of being a going concern. [b] Fund Accounting General funds are unrestricted funds that are available for the use, at the discretion of the trustees, in furtherance of the objectives of the charity and have not been designated for other purposes. Designated funds comprise of unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are funds that are to be used in accordance with specific restrictions imposed by donors or that have been raised by the charity for particular purposes. Costs relating to such funds are charged against specific funds. [c] Incoming Resources All incoming resources are included in the SOFA when the charity is legally entitled to the income, there is reasonable certainty of receipt and the amount can be quantified with reasonable accuracy. The following specific policies apply to categories of income.
i. Donations/Collections
These are accounted for when received or where there is reasonable certainty of receipt.
ii. Legacies
Entitlement is the earlier of the charity receiving the final estate accounts or the legacy being received.
iii. Donated Goods/Services
This is included at the value to the charity where this can be quantified.
iv. Grants
Where these are related to the performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance. Where income is received in advance, its recognition is deferred and included in creditors. Where entitlement occurs before income is received, the income is accrued.
[d] Resources Expended
All expenditure is accounted for on an accruals basis and has been classified under the headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings, they have been allocated on a basis consistent with the use of the resource. The following specific policies apply to categories of expenditure.
- i. Tangible fixed assets and depreciation
Tangible assets held by the charity for its own use are capitalised and depreciated on a straight-line basis. This permits the write-off of their
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GRACE (Registered Charity No 1189729) Notes to the Accounts 31 March 2025
costs over their useful lives as follows,
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Office/Computer equipment – 3 years
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ii. Cost of generating voluntary income
These costs are those costs, be it fixed or variable, incurred in seeking voluntary contributions.
iii. Fundraising trading costs
Are those costs incurred for products sold to raise funds for the Charity.
iv. Charitable activities cost
These are the cost incurred directly funding the aims of the Charity. It also includes the directly associated costs incurred in running GRACE’s charity events.
[e] Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
[f]
Creditors
Creditors 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. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
[g] Financial instruments The trust 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.
[h] Taxation GRACE is a registered charity and is therefore potentially exempt from taxation of its income and gains to the extent that they fall within section 505 of the Income and Corporation Taxes Act 1998 and section 256 of the Taxation of Chargeable Gains Act 1992. No tax charge has arisen in the year.
2. Income from donations and legacies
12 Month 12 Month Period to Period to 31 March 31 March 2025 2024 £ £ Donations 11,055 20,267
All income from donations and legacies was unrestricted.
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GRACE (Registered Charity No 1189729) Notes to the Accounts 31 March 2025
3. Income from charitable activities: Fundraising
| 12 Month Period to 31 March 2025 £ Fundraising/Products 70,799 Other - 70,799 All fundraising activities represent unrestricted funds. 4. Investment income 12 Month Period to 31 March 2025 £ CAF Deposit Account interest 1,685 |
12 Month Period to 31 March 2024 £ 39,231 - 39,231 12 Month Period to 31 March 2024 £ |
|
|---|---|---|
| 1,065 |
| 5. Analysis of resources expended 12 Month Period to 31 March 2025 £ Unrestricted Restricted Total Cost of generating voluntary income: PR, web site costs, IT 1,781 - 1,781 Insurance 509 - 509 Bank charges 72 - 72 Salary/Sub-Contracted costs 30,531 - 30,531 Administration costs 4,269 - 4,269 Depreciation 396 - 396 37,558 - 37,558 Fundraising costs: Products 2,536 - 2,536 Events 18,433 - 18,433 20,969 - 20,969 Charitable activities: Funded projects/research 10,070 8,930 19,000 |
All Funds 12 Month Period to 31 March 2024 £ Total |
|---|---|
| 3,295 491 78 35,785 3,782 457 |
|
| 43,888 | |
| 4,161 2,953 |
|
| 7,114 | |
| 32,339 |
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GRACE (Registered Charity No 1189729) Notes to the Accounts 31 March 2025
6. Staff Costs
| taff Costs | ||
|---|---|---|
| Salaries and wages Social security costs Pension costs (defined contribution scheme) Average headcount Fundraising Charitable activities Total |
12 Month Period to 31 March 2025 £ 27,226 1,758 1,547 30,531 2 - 2 |
12 Month Period to 31 March 2024 £ |
| 33,372 1,758 655 |
||
| 35,785 | ||
| 4 - |
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| 4 |
7. Analysis of support given (included in the cost of charitable activities)
| activities) | ||
|---|---|---|
| Projects | 12 Month Period to 31 March 2025 Grants to individuals £ Support Costs £ Total £ 9,343 - 9,343 543 - 543 (940) - (940) (362) - (362) 5,000 - 5,000 2,079 - 2,079 - - - 3,337 - 3,337 19,000 - 19,000 |
12 Months to 31 March 2024 Total £ |
| MIRRORS Study ESGO accreditation Adipocytokines and their relationship to endometrial cancer. Targeting Chemotherapy resistance using HTL01 (HOX/PBX) inhibitor in combination with MPK1 (DUSP1 inhibitor) in platinum resistant ovarian cancer. Circulating tumour cells in gynaecological malignancies in collaboration with Brunel University Risk prediction for women undergoing cancer surgery Research Assistant Peer Support (Incl. Counsellor) |
13,106 - - - 5,000 2,356 (3,455) 15,332 |
|
| 32,339 |
The above grants primarily help support PhD (Doctor of Philosophy) and MD (Doctor of Medicine) students who study areas of cancer supported by GRACE. The £1.3k credit reflects a refund of course fees from the previous years.
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GRACE (Registered Charity No 1189729) Notes to the Accounts 31 March 2025
8. Fixed Assets
| Cost or Valuation At 1 June 2024 Additions Disposals At 31 March 2025 Depreciation At 1 June 2024 Charge for the year Disposals At 31 March 2025 Net Book Values At 1 June 2024 At 31 March 2025 9. Debtors Accrued Gift Aid Accrued Income Account Receivables Prepayments 10. Cash at bank and in hand CAF Bank current account CAF Bank deposit account |
Office, Computer Equipment £ Total £ 1,638 1,638 - - - - 1,638 1,638 875 875 396 396 - - 1,271 1,271 763 763 367 367 As at 31 March 2025 £ 737 - 1,000 332 2,069 As at 31 March 2025 £ 104,212 97,955 202,167 |
Total £ |
As at 31 March 2024 £ |
|---|---|---|---|
| 1,638 - - |
|||
| 1,638 | |||
| 875 396 - |
|||
| 1,271 | |||
| 763 | |||
| 367 | |||
| 125 2,200 - 291 |
|||
| 2,616 | |||
| As at 31 March 2024 £ |
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| 130,033 37,717 |
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| 167,750 |
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GRACE (Registered Charity No 1189729) Notes to the Accounts 31 March 2025
11. Creditors due within one year
| Accounts payable Accruals Payroll creditors Other creditors |
As at 31 March 2025 £ 812 961 - 58,815 60,588 |
As at 31 March 2024 £ - - - 37,789 37,789 |
|---|---|---|
12. Analysis of movements in unrestricted and restricted funds
| Unrestricted General fund Restricted fund Represented by: Fixed Assets Investments Current Assets Current Liabilities |
Transferred Balance 31/03/2024 £ Income £ Expenditure £ 133,340 83,540 (68,597) - 8,930 (8,930) General Fund £ Designated Fund £ Restricted Fund £ 367 - - - - - 149,689 - 58,815 (1,773) - (58,815) 148,283 - - |
Transfer | Balance 31/03/2025 £ |
|---|---|---|---|
| (58,815) | 89,468 | ||
| 58,815 | 58,815 | ||
| All Funds £ |
|||
| 367 - 208,504 (60,588) |
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| 148,283 |
13. Description of Reserves
Unrestricted Fund Funds held available for the ordinary purposes of the charity. Designated Fund The designated fund comprises resources invested in the charity’s fixed assets. It is therefore, not readily available for other purposes. Restricted Fund These funds represent a number of donations received which carry specific restrictions imposed by the donor.
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GRACE (Registered Charity No 1189729) Notes to the Accounts 31 March 2025
14. Reserves Policy
There are a number of predictable costs involved in the running of GRACE. These include PR, IT, website, insurance, administration and ongoing research project costs. As we rely heavily upon fund raising and donations for our income, which can lead to irregular cash flows, we need to maintain adequate reserves to meet these costs. To this end we endeavour to hold reserves to meet regular expenditure for eighteen months.
Expenditure for GRACE, based on the period to 31 March 2025 is £68,597 which implies unrestricted reserves cover ratio of fifteen months (2024: sixteen months). This falls short of Grace’s revised reserves target of eighteen months. This is expected to improve over the next few years as new fundraising activities are implemented.
15. Trustees Remuneration and expenses
Trustees are not remunerated for their time and no expenses have been claimed.
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