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2025-12-31-accounts

Trustees' Annual Report for the period

Period start date Period start date Period end date Period end date
Day Month Year Day Month Year
From 1 Jan 2025 To 31 Dec 2025

Section A Reference and administration details

Charity name Another Way Women’s Foundation

Other names charity is known by Registered charity number (if any) Charity's principal address

1197515
Moss House Farm
Lowes Lane, Gawsworth
Macclesfield, Cheshire
Postcode SK11 9QR

Names of the charity trustees who manage the charity

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20		 Trustee name Office (if any) Dates acted if not for whole
**year **		 Name of person (or body) entitled
to appoint trustee (ifany)
Dr WendyMathias Chair Dr WendyMathias
Mrs Olivia McHugh
(nee Burgess)		 Mrs Olivia McHugh (nee
Burgess)
Ms AmyBurgess Ms AmyBurgess
Mrs Linda Mathias Mrs Linda Mathias

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Names of the trustees for the charity, if any, (for example, any custodian trustees)

Name Dates acted if not for whole year

Names and addresses of advisers (Optional information)

Names and addresses of advisers (Optional information) Names and addresses of advisers (Optional information) Names and addresses of advisers (Optional information)
Type of adviser
Name
Address
Bank Brown Shipley 2 Moorgate London EC2R 6AG
Accountant Warner Wilde Limited 4 Marigold Drive, Bisley Surrey GU24 9SF

Name of chief executive or names of senior staff members (Optional information)

Section B Structure, governance and management

Description of the charity’s trusts

CIO Foundation Constitution

Type of governing document (eg. trust deed, constitution) Charitable Incorporated Organisation (CIO) How the charity is constituted

Apart from the first charity Trustees, every Trustee must be appointed by a Trustee selection methods resolution passed at a properly convened meeting of the charity Trustees. (eg. appointed by, elected by) In selecting individuals for appointment as charity Trustees, the charity Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

The minimum number of Trustees is 3 and the maximum is 6.

Additional governance issues (Optional information)

The charity Trustees pledge to make available to each new charity Trustee, on or before their first appointment:

You may choose to include additional information, where relevant, about:

(a) a copy of the current version of the foundation model constitution; and (b) a copy of the CIO’s latest Trustees’ Annual Report and statement of accounts

works; The members of the CIO shall be its charity Trustees for the time being. The only persons eligible to be members of the CIO are its charity Trustees. • relationship with any related Membership of the CIO cannot be transferred to anyone else. parties; • trustees’ consideration of The first charity Trustees are as follows: WENDY JANE MATHIAS (Chair) major risks and the system OLIVIA CHARLOTTE GRACE McHUGH (nee BURGESS) and procedures to manage AMY ALICE EVE BURGESS them.

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In addition to the Trustees, we also had an Operations Manager, Sallie Griffiths who was paid on a contract basis for services to the charity in 2022. However, she is no longer part of the charity. From January 2023 onwards, a Steering Committee comprising of the three Trustees, together with two volunteers; Linda Cooke and Rory McHugh, was formed. Together, this Committee reviewed and scored each of the grant applications the charity received to decide on eligibility for funding. At the Trustees Meeting on 23 September 2024, Linda Mathias (previously Linda Cooke) was voting unanimously onto the Trustee Board. Mr McHugh remains as a Steering Committee member, working alongside the Trustees in assessing the grant applications.

We partner with all our grant-recipient organisations in delivering the aims and objectives of AWWF.

Section C Objectives and activities

Another Way Women’s Foundation (AWWF) is an independent, volunteerled, grant-making charity dedicated to enabling a brighter and fairer future for women and girls through financial support, education, empowerment and advancement.

Summary of the objects of the Our purpose is to advance such charitable purposes (according to the charity set out in its law of England and Wales) as the Trustees see fit from time to time, governing document preferring, but not limited to, such charitable purposes and organisations which are beneficial to the relief of need, education and empowerment of women, by making grants to UK-registered charities, other not-for-profit organisations, or individuals in need.

We offer two types of grant:

(i) the larger 'Another Way Women's Foundation grant' which is normally up to £5,000 and

Summary of the main which is normally up to £5,000 and activities undertaken for the (ii) the '£1000 for 1000 words' grant for smaller applications. public benefit in relation to these objects (include within In the reporting period (01/1/25 to 31/12/25), a total of £155,037 grant this section the statutory funding was provided, via 42 grants, made to 42 separate charitable declaration that trustees have organisations. had regard to the guidance issued by the Charity Our Trustees have all read and adhere to the guidance issued by the Commission on public Charity Commission on public benefit. benefit)

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Additional details of objectives and activities (Optional information)

To help ensure that our grant making activities contribute to the achievement of our aims and objectives, we use rigorous criteria to evaluate each application against.

Applications must be:

You may choose to include further statements, where relevant, about:

We try to ensure that our grant making activities are a s sociallyresponsible as possible by investing only in organisations that have a track record of social responsibility through helping the wider community.

The Steering Committee meet at least twice a year (or ad hoc, as required) to assess the funding applications received and the recommendations made by the Trustees of the applications we should support.

Their role is to ensure the applications meet our funding criteria, that budget projections are accurate, that due diligence checks have been made, and to put forward their ideas, opinions and questions in order for final decisions on funding to be made.

They also contribute by suggesting causes to fund via their wider connections to their communities.

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Section D Achievements and performance

Summary of the main
achievements of the charity
during the year		 2025 was the fourth year for Another Way Women's Foundation (AWWF),
and marked a year of consolidation and sharper focus.
As in previous years, our grants fell into two main categories:
(i) support of services directed to women who have suffered or are
suffering hardship, with the aim of enabling them to move forward and
make life changes for the better, and
(ii) support of pilot projects aimed at making a longer-term, sustainable
impact on the lives of women and girls.
Our grant-making continued to centre on women facing immediate
hardship, particularly survivors of violence and abuse, while also
strengthening our investment in projects delivering longer-term
empowerment and system change. We saw increasing demand for
trauma-informed, community-based support, alongside growing impact
from preventative and skills-focused work.
In response, AWWF refined its funding approach to balance urgent need
with sustainable outcomes, ensuring our grants deliver both depth and
reach. We also continued our diversification into areas such as: business
support & STEM, homelessness, perinatal support, mental health and the
Arts. We hope to continue this diversification in coming years to expand
our reach ever further to positively impact even more women’s lives in
ever more varied ways.
We awarded 42 grants in 2025 to 42 charity partners, delivering services
and projects aimed at women's advancement and well-being.
We continue to be humbled by what has been achieved in 2025 –
positively touching over 29,000 women and girls’ lives through our
amazing partner organisations.
NB: The donation made to one of the charities (RISE UK) was made via
The Big Give match-funding campaign; with payments being made from
the Chair of Trustees personal account as donations can’t be made to
the online platform directly from the charity’s current account.
Grants totalling £10,000 were also made to two organisations via the Big
Give campaign by the Chair of Trustees during the year ended 31/12/23.
The grants were intended to be from Another Way Women’s Foundation
and with the agreement of the Board was reimbursed to the Chair of
Trustees in 2023. However. the reimbursement was duplicated in error in
2024, and £10,000 was therefore repaid by the Chair of Trustees in the
year ended 31/12/2025 - £5000 via the RISE UK donation to Big Give and
£5000 via a transfer in to the AWWF current account on 11 December
2025.
In terms of achievements versus set objectives, our purpose is to advance
such charitable purposes and organisations which are beneficial to the
relief of need, education and empowerment of women. In terms of the
benefits we sought to achieve, these included:
•
The relief of poverty
•
Advancement of education
•
Advancement of health or saving of lives
•
The advancement of citizenship or community development
•
The advancement of the arts, culture, heritage or science
•
The advancement of amateur sport
•
The advancement of human rights, conflict resolution or
reconciliation or the promotion of religious or racial harmony or
equality and diversity Conflict resolution
•
The advancement of environmental protection or improvement
•
The relief of those in need, by reason of youth, age, ill-health,
disability, financial hardship or other disadvantage
AND

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Section D Achievements and performance

Provision of ‘public benefit’, preferring, but not limited to, relief of need, education and empowerment of women. With respect to achievements versus these objectives, we can confirm that the funding made available by AWWF impacted more than 2380 women and girl’s lives.

In total in 2025 we received 314 viable applications. Of the 314 applications, 42 were successful with a total of £155,037 being given out in grants. One of the application received matched funding and Gift Aid, adding a further £6250 to the monies received by the charity; making a total of £161,287 funds available for projects and services (at no additional cost to AWWF). On reflective analysis, we see that our grants so far fall into two distinct categories: (i) support for women in the community who have suffered hardship, with the aim of enabling them to move forward and make life changes via recognised organisations that are trained to give the support and expertise needed (ie, ‘relief of need’), and (ii) support for projects that make a longer-term, more sustainable impact on the lives of women (ie, ‘education, empowerment and advancement’). As such, we believe that the objectives we set at our outset have been met.

Moving forward, for future grant giving, we will be seeking to further quantify the impact and performance of our grants more objectively, using SMART reporting.

Our CIO foundation model constitution allows fundraising via public donations. However, our initial Business Plan did not include any provision or requirement for fundraising above and beyond the investment interest income and up until 2024 no public donations were sought or received. In November 2024, a cycle ride was undertaken by two of the Trustees to raise funds for AWWF via the JustGiving platform. A total of £3925.87 was raised from 82 supporters. These funds were fed into the AWWF current account from the JustGiving platform over 2024 and into 2025. In 2024, £1317.53 of these donations were recognised in the 2024 accounts. The remaining balance of £2608.34 donations are recognised in the 2025 accounts.

As stated in our Business Plan document submitted to The CC to support our registration, our objective for our start-up year was to use the initial investment deposit of £1M to release funds of ~£80,000 p.a. into the organisation to cover AWWF costs and grant-making activities.

Following the financial ‘crash’ in 2022, 2023 to 2025 have been better years in terms of returns on the £1M holding investment. Interest generated from the investment holding triggers income into the charity funding pot. Any shortfalls can be met by further investment made personally by Dr Wendy Mathias, the Chair of Trustees, if required.

Following outgoings to cover accountancy costs, we estimated the level of grant-making funds available in Year 4 to be approximately £80,000. However, it was decided by the Trustees to make donations in excess of this and the Chair of Trustees, Wendy Mathias, made a personal donation of £100,000 in 2025 to ‘top up’ the investment fund.

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Section D Achievements and performance

In 2025, £155,037 was actually released, via 42 grants, made to 42 organisations.

For future planning, we will be targeting an investment return of 7–8% per annum, as projected in our original Business Plan.

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Section E Financial review

Reserves held as of end of the reporting period, 31 December 2025: Brief statement of the £1,071,251 in the investment account charity’s policy on reserves £4,048.98 in the current account

charity’s policy on reserves

The reserves held in the investment account are used to trigger interest that provides the funds into the current account.

The reserves held in the current account are used to fund the charity partners and projects we support.

Details of any funds materially in deficit

Further financial review details (Optional information)

You may choose to include additional information, where relevant about:

Founder and Chief Trustee, Dr Wendy Mathias, holds significant investments managed by Brown Shipley. The source of funds for these investments was the sale of shares in Obsidian Healthcare Group Ltd (Registered in England No. 09894418); a company previously owned 100% by Dr Mathias.

In relation to the set up and initial investment into AWWF, Dr Mathias instructed Brown Shipley to open a bank account and a general investment account. Money is invested in line with the Trustee Investment Policy Document.

Brown Shipley act as Investment Manager and use a total return approach.

This approach means that AWWF, when deciding what to spend in a given year, is able to look at all investment returns, regardless of whether these come from dividends, interest or capital gains.

Brown Shipley target an investment return of 7–8% per annum such that the foundation will be able to make grants of this value each year, retaining the original capital invested.

Quarterly valuation reports are provided from the Investment Managers. Ad-hoc reports, where relevant, can also be requested at any time by the foundation.

A medium risk investment profile has been selected, commensurate with the Balanced mandate, as defined in Brown Shipley Guide to Investing brochure.

Returns from a Balanced Portfolio are sought by way of a combination of capital appreciation and income.

There is a medium risk to capital, exceeding that for an ‘Income’ Portfolio, but with increased opportunities for above inflation returns over the investment time horizon (10 years plus).

There is a possibility that the investments may display larger and/ or more frequent fluctuations in capital value in comparison with an ‘Income’ Portfolio over the investment time horizon.

The portfolio is be biased towards equities (UK and international), with a lesser degree of fixed income exposure when compared to an ‘Income’ Portfolio. There may also be exposure to alternative assets and cash. With respect to the social investment/ethical policy, AWWF Trustees wish to invest in a responsible manner and have asked that the Investment

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Manager invests on a best endeavours basis, in such a way that reflects ethical and socially responsible values.

The Investment Policy is reviewed annually by the Trustees to ensure that the portfolio is being managed according to the standards set out in the policy document.

This will incorporate the annual attendance at one of the Trustees meetings by a representative from the Investment Managers, where the Investment Policy will be discussed.

Section F Other optional information

As outlined in our Investment Policy Document, the main risk facing the foundation is lack of income and financial sustainability. If the investment funds fail to generate interest income in line with our Business Plan (7–8% pa), the charity will be impeded with respect to its ability to provide grants in line with our expectations.

Due to movements in the financial markets, in any given year, the investment returns can be positive or negative.

In terms of other risks to the charity, these potentially could include:

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Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signatur
e(s)
Full
name(s)
Position
(eg
Secretary,
Chair, etc)
Date


Wendy Jane
Mathias		 Olivia Charlotte
Grace McHugh
(nee Burgess)		 Amy Alice Eve
Burgess		 Linda Anne
Mathias



Chair of Trustees		 Trustee Trustee Trustee
11/06/2026 11/06/2026 11/06/2026 11/06/2026

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Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ Another Way Women’s Foundation members of

On accounts for the year
ended
Set out on pages		 31 December 2025 Charity no
(if any)		 1197515
1 and 2

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 December 2025.

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 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 order to enable a proper understanding of the accounts to be reached.

Signed: Date: 16 June 2026 Name: F J Wilde Relevant professional FCCA DChA qualification(s) or body (if any): Address: 4 Marigold Drive Bisley Surrey GU24 9SF

Section B Disclosure

Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

1

October 2018

IER

Charity Name No (if any) Another Way Women's Foundation 1197515 Receipts and payments accounts CC16a For the period Period start date Period end date To from 01/01/2025 31/12/2025

Section A Receipts and payments

A1 Receipts Unrestricted
funds
to the nearest
£
15,277
108,658
509
-
-
-
-
-
124,445
28,110
-
28,110
152,555
150,037
896
5,502
-
-
-
-
-
-
156,435
-
-
-
156,435
- 3,879
-
34,157
30,278		 Restricted
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total funds
to the nearest £
15,277
108,658
509
-
-
-
-
-
124,445
28,110
-
28,110
152,555
150,037
896
5,502
-
-
-
-
-
-
156,435
-
-
-
156,435
- 3,879		 Total funds
to the nearest £
15,277
108,658
509
-
-
-
-
-
124,445
28,110
-
28,110
152,555
150,037
896
5,502
-
-
-
-
-
-
156,435
-
-
-
156,435
- 3,879		 Last year
to the nearest £
Investment income 15,277 153,484
Donations 108,658 2,582
Interest 509 125
- -
- -
- -
- -
- -
Sub total(Gross income for AR) 124,445 156,191
A2 Asset and investment sales,
(see table).
Balance of invetsment dealing 28,110
- -
Sub total 28,110 -
Total receipts
A3 Payments
156,191
Grantspayable 150,037 115,775
Accountancy 896 864
Investment management fees 5,502 5,566
- -
- -
- -
- -
- -
- -
**Sub total ** 156,435 122,205
A4 Asset and investment
purchases, (see table)
-
-
**Sub total ** - -
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end
122,205
- 3,879 - - - 3,879 33,986
- - - - -
34,157 - - 34,157 171
30,278 - - 30,278 34,157

CCXX R1 accounts (SS)

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1

Section B Statement of assets and liabilities at the end of the period

Categories
Signed by one or two trustees on behalf
of all the trustees
B1 Cash funds
B2 Other monetary assets
B4 Assets retained for the
charity’s own use
B5 Liabilities
B3 Investment assets		 Signature
Details
Details
Brown Shipley 1
Brown Shipley 2
Details
Details
Total cash funds
(agree balances with receipts and payments
account(s))
Details		 Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
4,049
-
26,229
-
-
-
30,278
-
OK
OK
Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
-
-
-
-
-
-
-
-
-
-
-
-
Fund to which
asset belongs
Cost (optional)
-
-
-
-
-
Fund to which
asset belongs
Cost (optional)
-
-
-
-
-
-
-
-
-
Fund to which
liability relates
Amount due
(optional)
-
-
-
-
-
Print Name
WendyJane Mathias		 Endowment
funds
to nearest £
-
-
-
-
OK
Endowment
funds
to nearest £
-
-
-
-
-
-
Current value
(optional)
-
-
-
-
-
Current value
(optional)
-
-
-
-
-
-
-
-
-
When due
(optional)
Date of
approval
WendyJane Mathias 11-Jun-26

CCXX R2 accounts (SS)

16/06/2026

2