## 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 1 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.** 2 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 3 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. 4 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: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgments and estimates that are reasonable and prudent; - state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - 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 5 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: 1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or 2. that the accounts do not accord with those records; or 3. 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 7 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. 8 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 9 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**| 10 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 11 GRACE (Registered Charity No 1189729) Notes to the Accounts 31 March 2025 costs over their useful lives as follows, - Office/Computer equipment – 3 years - **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. 12 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| 13 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
-| |||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. 14 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
£| ||||130,033
37,717| ||||167,750| 15 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)| ||||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. 16 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. 17