CHARITY NUMBER: 1203682 (ENGLAND AND WALES) 






## **UNAUDITED ANNUAL REPORT** 

**FOR THE YEAR ENDED 30 JUNE 2025** 




|CONTENTS||
|---|---|
|Reference and Administrative Details of the Charity|3|
|Founders’ Introduction|4|
|Our Year in Highlights|5|
|Trustees’ Report|6|
|Independent Examiner’s Report|13|
|Statement of Financial Activities|14|
|Balance Sheet|15|
|Statement of Cash Flows|16|
|Notes to the Financial Statements|17|



2 




## **REFERENCE AND ADMINISTRATION DETAILS OF THE CHARITY for the year ended 30 June 2025** 

|Trustees|D Marsden|
|---|---|
||M Marsden|
||R Southall|
|Charity Number|1203682|
|Registered Office|1 Blythe Gate|
||Blythe Valley Park|
||Shirley|
||Solihull|
||B90 8AD|
|Bankers|HSBC Bank Plc|
||130 New St|
||Birmingham|
||B2 4JU|
|Solicitors|Higgs LLP|
||3 Waterfront Business Park|
||Brierley Hill|
||DY5 1LX|
|Independent Examiner|Glen Bott FCA|
||5 Pond Spinney|
||Northampton|
||NN6 0GJ|



3 




## **FOUNDER’S INTRODUCTION for the year ended 30 June 2025** 

We created The Lounge Foundation in 2023, after spending years dreaming that this incredible brand we had founded could speak about causes we truly care about - and over the last year, we have truly defined those causes and built relationships to deliver lasting and tangible impact. 

This year has been one of planning, growth and building. Building what the Foundation will look like, how it will serve the communities we help, and how we deliver our mission of making a genuine impact on the health and lives of women and children. 

We are incredibly proud of the year the Foundation has had. The launch of our partnership with Birmingham Childrenʼs Hospital has been a real highlight - having joined the charity as a pioneer Changemaker, weʼve begun to fund life-changing, high-impact projects. Another highlight has been the Legacy Project campaign: a project designed to deliver grants to women affected by cancer. In our first year of running this scheme, weʼve fulfilled 97 grants to provide financial support when itʼs needed most; to allow families to make lasting memories, to support with cost of living or to support women in regaining their confidence following treatment. 

When we created The Lounge Foundation, we promised to be transparent about our work and to have a tangible and meaningful impact. Whilst we are an organisation very much still in our infancy, I hope that our commitment to having a true and measurable impact will shine through in both this report and in the work we continue to do in the next 12 months and many years to come. 

Weʼre just getting started. 

Mel 

_Mel Marsden TLF Co-Founder & Trustee_ 

4 




## **OUR YEAR IN HIGHLIGHTS for the year ended 30 June 2025** 

97 

Grants given to women affected by cancer 

## 670 

Gifts donated to Birmingham Women’s & Children’s Hospital 

£272,603 

Raised by Lounge’s Feel Your Breast campaign 

£91,573 

Donated to charity partners 

42 

Families provided funding to make forever memories 

78.4% 

Grants awarded were to women affected by breast cancer 


“The Lounge Foundation grant helped us immensely 

- we were able to do some substantial food shops, stocking up our pantry, 

- and were able to get our car fixed. These were 

- necessities for us; I cannot express how thankful we are!!” 

Kim 


“It really relieved the pressure of the ongoing cycle of working to survive. The grant allowed my husband to have a long-overdue break from work. We had a week off together and made some amazing memories with the children. 

Vicki 


“I was given a grant which I used to purchase wigs. They made me feel normal and look normal in a time in which I felt awful. I can’t thank you enough for the help and will forever remember how you helped me.” 

Jo 

5 




## **TRUSTEES’ REPORT for the year ended 30 June 2025** 

The Trustees present their report together with the financial statements of The Lounge Foundation (“the Foundation”) for the year to 30 June 2025. 

The Trustees confirm that the report and financial statements of the Foundation comply with the Charities Act 2011, the requirements of the Foundation’s governing documents and the provisions of the Statement of Recommended Practice (“SORP”) “Accounting and Reporting by Charities”, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102). 

The Lounge Foundation is a charitable incorporated organisation (‘CIO’), governed by its constitution. The Foundation was registered as a CIO at the Charity Commission on 22 June 2023. 

## **Achievements and Performance** 

## **Objectives** 

The objects of the Foundation, according to the Constitution, is to advance such charitable purposes (according to the law of England and Wales) as the Trustees see fit from time to time. 

More specifically, the aim of the Foundation is to make a genuine impact on the lives and health of women and children. 

Grant funding is one way that the Trustees believe that they will be able to make a real difference to their communities. The aim is therefore to provide grants to: support women's health; 

- support children’s health; and 

- support women and children on their cancer journeys. 

The Trustees will occasionally award grants that fall outside the priorities stated in this policy, if they are satisfied that the grant is an appropriate use of the Charity's funds. 

In setting the grant making policy, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit. 

6 




## **TRUSTEES’ REPORT** _**(CONTINUED)**_ **for the year ended 30 June 2025** 

## **Objectives** _**(continued)**_ 

When providing grants to other charities and charitable causes, the Foundation has prioritised those charities where there is: 

- a connection with the wider communities that the Foundation serves; 

- a community in the vicinity of the West Midlands, where the Foundation is based; and 

- multi-year projects where the Foundation could engage with a charity for three or more years, thus allowing the recipient charities to make substantial and lasting impact. 

_“We collaborate with individuals, communities, and other organisations to lead projects and grants that drive meaningful change.”_ 

## **Activities** 

During the year, the Foundation received income of £272,603 from Lounge Underwear Limited through its fundraising activities on behalf of The Lounge Foundation. These funds were mainly raised as part of Lounge’s “Feel Your Breast” Campaign, a campaign that has grown in popularity in recent years. 

This year saw us making a genuine difference through our key projects throughout the year. During the year, grants totalling £48,519 were made to individuals through The Legacy Project, a project designed to provide grants to women to support them on their cancer journey. Alongside The Legacy Project, we provided £91,573 in grant funding to institutions through our charity partner relationships, including our partnership with Birmingham Children’s Hospital and a Lounge staff-nominated charity, Remember Rufus. Both organisations provide incredible services to hospitals and communities and make an incredible and genuine impact on women and children. 

Take a read through these projects and partnerships in the following pages to understand more about why they are so important, to see how they deliver against our mission and the impact they have on women and children. 

7 




## **TRUSTEES’ REPORT** _**(CONTINUED)**_ **for the year ended 30 June 2025** 

## **Birmingham Children’s Hospital** 

During the year, the Foundation continued its support of Birmingham Children’s Hospital with a further £50,000 donation as part of their Changemakers scheme. As a Midlands-based charity, working with Birmingham Children’s Hospital (BCH) as a pioneer Changemaker is something that excites us to our core. Changemakers is a network of visionaries, united by a passion to transform the lives of sick children at BCH. We are working closely with the charity to continue on their mission to deliver state-of-the-art, life-saving equipment and provide inspiring, child-friendly spaces at the hospital. 

As part of our partnership with BCH, we are always looking for other impactful ways we can work together. During the year, the Foundation also provided a one-off donation of £24,188 to fund the purchase of a Panda Warmer - a state-of-the-art resuscitation unit that will support around 1,500 babies and infants visiting the ED every year. Panda Warmers provide essential warmth and stability when babies need it most, and will help to enhance patient care, bring reassurance to families during difficult moments, and support clinicians as they care for their smallest patients with confidence. 

The Foundation also participated in other fundraising activities led by Birmingham Children’s Hospital, where amounts totalling £1,885 were donated. In December 2024, we provided funding to the Children's Hospital to decorate one ward, bringing festive cheer for the children staying as inpatients throughout December. In addition to this, we worked to bring seasonal magic to the hospital with 200 ‘Santa Stop Here’ signs, providing children an opportunity to colour this in and hang it on their bed, bringing in some normal Christmas Eve activities for families. The Lounge team also donated gifts, which the Foundation then matched and donated to the hospital to be distributed throughout the wards. 

At Easter, we provided 200 themed craft packs to the children who would be spending Easter weekend as inpatients. These included activity books, scratch art, Easter stickers, chocolate, and a postcard to colour in and send home to siblings or loved ones. 

8 




## TRUSTEES’ REPORT _(CONTINUED)_ for the year ended 30 June 2025 

## **The Legacy Project** 

We’re so proud of The Legacy Project and its mission to grant funds to women affected by cancer. This project is fully informed by the cancer community through our incredible ambassadors, who are themselves cancer survivors. They help to ensure everything we fund through the Legacy Project is aligned to our grant criteria, our mission and what is really needed within the cancer community.  We have given grants to many incredible women to help support them on their journey, from support to help families in making forever memories and funding counselling sessions to help with the fear of recurrence, to helping women regain their confidence after their cancer treatment. This programme is life-changing for so many women in the UK. During the year, the Foundation granted £48,519 to individuals as part of this project, which comprised 97 grants. 

97 42 20 Grants given to women Families provided funding Women supported in their affected by cancer to make forever memories recovery e.g wigs, nipple tattoos 19 78.4% 10 Families supported with cost of Grants awarded were to women Women provided funding to living during cancer treatment affected by breast cancer support access to counselling 

_What has The Legacy Project meant to the cancer community?_ 

It’s had the biggest impact - this project is doing so much good, every time you speak to someone who has applied or had something granted, it's like a weight off their shoulders. It's the wigs, it’s the help getting their nipples tattooed, it’s doing something nice with your family, it’s something that makes what they're going through the teeniest, tiniest bit lighter, and that is incredible. We all know that cancer can be such a dark place and a very trying thing to go through. Knowing that the project is giving people the opportunity to smile or make memories with a loved one or do something nice - we all know that that little glimmer of hope can keep you going, it's incredible. 

_- Georgie Swallow, Ambassador for The Legacy Project_ 

9 




## **TRUSTEES’ REPORT** _**(CONTINUED)**_ **for the year ended 30 June 2025** 

## **Staff Charity of the Year: Remember Rufus** 

The Lounge team work incredibly hard to deliver the Feel Your Breast campaign. To recognise this and identify charities having a true community impact, we gave the Lounge team an opportunity to nominate charities that have a meaningful impact in their community or have had a profound impact on them personally. Remember Rufus was nominated and received a huge number of the final votes. 

This charity’s work is incredibly meaningful at reducing trauma and improving the experiences of bereaved parents after baby loss and stillbirth. They fund Cuddle Cots, which provide a cold mattress for cribs and prams so that families can spend time with their babies past the standard 12 hours (approximate). 

Ceri, Rufus’ Mummy, shares that their Cuddle Cot enabled them to spend 6 precious days with him. It allowed them to introduce Rufus to his family, fall asleep and spend sunrises with him, and take him for a walk to have the sun shine down on his beautiful face. 

The Lounge Foundation made a grant of £10,000 to Remember Rufus which has funded 4 Cuddle Cots and 4 Prams for parents to use when they need. These have been donated to hospitals and community teams where the need is greatest; either due to how busy the maternity department is or because a team may not have a Cuddle Cot at all. 

“We would like to extend our heartfelt thanks for the generous donation of a Cuddle Cot to our Community Children's Nursing Team. The Cuddle Cot will allow families the precious gift of time to hold, to cuddle and to say goodbye in their own home, and to begin processing their loss without feeling rushed. By enabling families to spend extended time with their baby, the Cuddle Cot will support more compassionate, dignified, and family-centered end-of-life care.” 

- Children's Community Nursing Team, Kent 

10 




## **TRUSTEES’ REPORT** _**(CONTINUED)**_ **for the year ended 30 June 2025** 

## **Investment Policy and Performance** 

The Trust Deed permits the Trustees, in their absolute discretion, or any appointed investment advisors, to invest in any investment, securities or property, as it thinks fit. During the year ended 30 June 2025 the Foundation utilised HSBC MTM. 

The Foundation does not currently invest in other types of investments/funds. Before any investments take place, an investment policy would be developed and approved by the Trustees. 

## **Financial Review** 


## **Reserves** 

The Foundation does not currently have a reserves policy. As Lounge Underwear Limited provides the Foundation with annual funding, and the Trustees regularly review the balance available to them, including any anticipated future donations to be considered and other costs, a reserves policy is not considered necessary. 

## **Plans for the Future** 

It is intended that additional funds will be made available by Lounge Underwear Limited to the Foundation annually to enable it to consider and approve further donations to the charities already supported by the Foundation and other charitable organisations as the Trustees see fit. 

11 




## **TRUSTEES’ REPORT** _**(CONTINUED)**_ **for the year ended 30 June 2025** 

## **Trustees’ Responsibilities** 

Trustees are responsible for preparing a Trustees’ Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

The law applicable to charities in England and Wales requires 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 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 applicable Charities SORP; make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 

Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Foundation and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Foundation and taking reasonable steps for the prevention and detection of fraud and other irregularities. 

This report was reviewed and approved by the Trustees on 28 April 2026 and signed on their behalf by: 


M Marsden Chair of the Trustees 

12 




## **INDEPENDENT EXAMINER’S REPORT for the year ended 30 June 2025** 

I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 June 2025 which are set out on pages 14 to 21. 

## **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 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** 

The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales (ICAEW). 

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: 

- the accounting records were not kept in accordance with section 130 of the Act; or the accounts did not accord with the accounting records; or 

- the accounts did 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 any 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. 


GLEN BOTT FCA 5 Pond Spinney Northampton NN6 0GJ 

Date: 


13 



**STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 June 2025** 


|**Note**<br>**Income from:**<br>Donations<br>**2**<br>Investment activities<br>**3**<br>**Total Income**<br>**Expenditure on:**<br>Raising funds<br>Charitable activities - Grants<br>**4**<br>Other expenditure<br>**5**<br>**Total Expenditure**<br>**Net movement in funds**<br>Total Unrestricted Funds as at 1 July<br>**10**<br>**Total Unrestricted Funds as at 30 June**|**Year ended**<br>**30 June 2025**<br>Period ended<br>30 June 2024<br>£<br>£<br>**272,603**<br>394,541<br>**12,146**<br>1,240|
|---|---|
||**284,749**<br>395,781|
||**(206)**<br>-<br>**(140,092)**<br>(50,000)<br>**(75,427)**<br>(4,086)|
||**(215,725)**<br>(54,086)|
|||
||**69,024**<br>341,695|
||**341,695**<br>-|
||**410,719**<br>341,695|
|||



_The notes on pages 17 to 23 form part of these financial statements._ 

14 




## **BALANCE SHEET for the year ended 30 June 2025** 

|**Note**<br>**Current assets**<br>Debtors<br>**7**<br>Cash at bank and in hand<br>**Current liabilities**<br>Creditors: amounts falling due within<br>one year<br>**8**<br>**Net current assets**<br>**Net assets**<br>**Charity funds**<br>Unrestricted funds<br>**10**<br>**Total funds**|**2025**<br>£<br>**16,625**<br>**446,044**|**2025**<br>2024<br>2024<br>£<br>£<br>£<br>-<br>345,755|
|---|---|---|
||**462,669**<br>**(51,950)**|345,755<br>(4,060)<br>**410,719**<br>341,695<br>**410,719**<br>341,695<br>**410,719**<br>341,695<br>**410,719**<br>341,695|
||||
||||



These financial statements were approved by the Trustees and authorised for issue on 28 April 2026, and signed on behalf of the board by: 


M Marsden Chair of the Trustees 

Charity number: 1203682 

_The notes on pages 17 to 23 form part of these financial statements._ 

15 




## **STATEMENT OF CASH FLOWS for the year ended 30 June 2025** 

|**Cash flows from operating activities**<br>Net movement in funds<br>Adjustments for:<br>Interest receivable<br>Increase in debtors<br>Increase in creditors<br>**Net cash provided by operating activities**<br>**Cash flows from investing activities**<br>Interest income<br>**New cash inflow from investing activities**<br>**Change in cash and cash equivalents in the year**<br>Cash and cash equivalents at the beginning of the year<br>**Cash and cash equivalents at the end of the year**<br>**Cash and cash equivalents at the end of the year comprise:**<br>Cash at bank and in hand|**Year ended**<br>**30 June 2025**<br>Period ended<br>30 June 2024<br>£<br>£<br>**69,024**<br>341,695<br>**(12,146)**<br>(1,240)<br>**(11,625)**<br>-<br>**47,890**<br>4,060|
|---|---|
||**93,143**<br>344,515<br>**7,146**<br>1,240|
||**7,146**<br>1,240|
||**100,289**<br>345,755<br>**345,755**<br>-|
||**446,044**<br>345,755|
||**446,044**<br>345,755|
|||



_The notes on pages 17 to 23 form part of these financial statements._ 

16 




## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 June 2025** 

## **1. Accounting Policies** 

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated. 

## **a) Basis of preparation** 

The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities,” applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and applicable regulations. 

The financial statements show the results of the Foundation for the year to 30 June 2025 with the comparative results covering the period from 22 June 2023 to 30 June 2024. 

The accounts have been prepared under the historical cost convention with items recognised as cost or transaction value unless otherwise stated in the relevant note(s) to the accounts. The Foundation meets the definition of a public benefit entity as defined by FRS 102. 

## **b) Going concern** 

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist.  The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. 

## **c) Fund accounting** 

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the Foundation and which have not been designated for other purposes. 

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund. 

Designated funds are unrestricted funds earmarked by the trustees for particular purposes. 

## **d) Incoming resources** 

All incoming resources are included in the Statement of Financial Activities when the Foundation has entitlement to the funds, after any performance conditions have been met, the amount can be measured reliably, and it is probable the income will be received. 

## **e) Interest receivable** 

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Foundation; this is normally upon notification of the interest paid or payable by the bank. 

17 




## **NOTES TO THE FINANCIAL STATEMENTS (** _**CONTINUED**_ **) for the year ended 30 June 2025** 

## **1. Accounting Policies** _**(continued)**_ 

## **f) Resources expended** 

Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities, they have been allocated on a basis consistent with the use of the resources. 

Grants payable to third parties are within the charitable objectives. Grants payable are charged in the period when the offer is made except in those cases where the offer is conditional on a future event. Grants offered subject to conditions which have not been met at the period-end are noted as commitments but not accrued as expenditure. 

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. 

## **g) 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. 

## **h) 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. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

The charity 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. 

## **2. Income from Donations** 

||**2025**|2024|
|---|---|---|
||**£**|£|
|Donations|**272,603**|394,541|



All income from donations is unrestricted in the current and previous period. 

18 




## **NOTES TO THE FINANCIAL STATEMENTS (** _**CONTINUED**_ **) for the year ended 30 June 2025** 

## **3. Income from Investing Activities** 

|**Income from Investing Activities**|||
|---|---|---|
||**2025**|2024|
||**£**|£|
|Bank interest receivable|**12,146**|1,240|



All income from investing activies is unrestricted in the current and previous period. 

## **4. Charitable Activities - Grants** 

|Summary of grants made:<br>**Grants made to institutions**<br>The following grants were made to institutions during the year:<br>**Recipient**<br>**Purpose**<br>Birmingham Women’s and Children’s Hospital<br>Changemakers<br>Birmingham Women’s and Children’s Hospital<br>Panda Warmer<br>Birmingham Women’s and Children’s Hospital<br>Other fundraising<br>Black Women Rising<br>Event sponsorship<br>Ladies Fighting Breast Cancer<br>The Legacy<br>Project<br>Remember Rufus<br>Staff charity<br>**Recipient**<br>**Purpose**<br>Grants to individuals<br>The Legacy Project<br>Grants to institutions<br>Charitable purposes|**Unrestricted**<br>**funds**<br>Unrestricted<br>funds<br>**2025**<br>**£**<br>2024<br>£<br>**50,000**<br>50,000<br>**24,188**<br>-<br>**1,885**<br>-<br>**500**<br>-<br>**5,000**<br>-<br>**10,000**<br>-<br>**91,573**<br>50,000<br>**2025**<br>**£**<br>**2024**<br>**£**<br>**48,519**<br>-<br>**91,573**<br>50,000<br>**140,092**<br>50,000|
|---|---|



19 




## **NOTES TO THE FINANCIAL STATEMENTS (** _**CONTINUED**_ **) for the year ended 30 June 2025** 

## **4. Charitable Activities - Grants (continued)** 

## **Grants made to individuals** 

During the year, through The Legacy Project, the Foundation made 97 (Period ended 30 June 2024: None) grants to individuals totalling £48,519 (Period ended 30 June 2024: £Nil). 

## **5. Other Expenditure** 

|**Expenditure on Charitable activities**<br>Staff costs<br>Legal and professional fees<br>Promotional activities<br>Independent examiner fees<br>Other costs|**Unrestricted**<br>**funds**<br>Unrestricted<br>funds<br>**2025**<br>**£**<br>2024<br>£<br>**40,144**<br>-<br>**4,710**<br>550<br>**27,276**<br>1,296<br>**1,950**<br>1,750<br>**1,347**<br>490|
|---|---|
||**75,427**<br>4,086|
|||



The Foundation does not employ any staff directly but is recharged the costs of staff from Lounge Underwear Limited who perform work on behalf of the Foundation. 

## **6. Transactions with Trustees** 

During the current year and the previous period no Trustees received any remuneration, benefits in kind or reimbursement of expenses. 

## **7. Debtors** 

|**. Debtors**|||
|---|---|---|
||**2025**|2024|
||**£**|£|
|Prepayment and accrued income|**16,625**|-|



20 




## **NOTES TO THE FINANCIAL STATEMENTS (** _**CONTINUED**_ **) for the year ended 30 June 2025** 

## **8. Creditors: Amounts falling due within one year** 

|**. Creditors: Amounts falling due within one year**||
|---|---|
|Grants payable<br>Amounts owed to related party undertakings<br>Accruals and deferred income|**2025**<br>**£**<br>2024<br>£<br>**50,000**<br>-<br>**-**<br>2,310<br>**1,950**<br>1,750|
||**51,950**<br>4,060|
|||



## **9. Grant Commitments** 

In accordance with the grant making policies, the Foundation can commit to multi-year grants which are subject to annual confirmation from the Trustees prior to the grants being made. 

As at the 30 June 2025, future commitments, that are subject to annual confirmation, are £50,000 which would become payable in the year ended 30 June 2026. These future commitments will be recognised as grants in the year they are confirmed and paid. These amounts have been designated as a separate fund under the Changemakers project as part of the Foundation’s ongoing partnership with Birmingham Children’s Hospital. 

## **10. Statement of Charity Funds** 

|**Year ended 30 June 2025**<br>**Unrestricted funds**<br>General funds<br>Designated funds<br>Changemakers<br>The Legacy Project|**Brought**<br>**forward**<br>**Incoming**<br>**resources**<br>**Resources**<br>**expended**<br>**Transfers**<br>**Carried**<br>**forward**<br>£<br>£<br>£<br>£<br>£<br>181,695<br>284,749<br>(84,930)<br>(110,795)<br>270,719<br>100,000<br>-<br>(50,000)<br>-<br>50,000<br>60,000<br>-<br>(80,795)<br>110,795<br>90,000|
|---|---|
||**341,695**<br>**284,749**<br>**(215,725)**<br>**-**<br>**410,719**|
|||



21 




## **NOTES TO THE FINANCIAL STATEMENTS (** _**CONTINUED**_ **) for the year ended 30 June 2025** 

## **10. Statement of Charity Funds** _**(continued)**_ 

|Period ended 30 June 2024<br>Unrestricted funds<br>General funds<br>Designated funds<br>Changemakers<br>The Legacy Project|Brought<br>forward<br>Incoming<br>resources<br>Resources<br>expended<br>Transfers<br>Carried<br>forward<br>£<br>£<br>£<br>£<br>£<br>-<br>395,781<br>(4,086)<br>(210,000)<br>181,695<br>-<br>-<br>(50,000)<br>150,000<br>100,000<br>-<br>-<br>-<br>60,000<br>60,000|
|---|---|
||-<br>395,781<br>(54,086)<br>-<br>341,695|
|||



## **Designated funds** 

_Changemakers_ 

During the year, the Foundation made a grant of £50,000 (Period ended 30 June 2024: £50,000) to Birmingham Children’s Hospital. As a Midlands-based charity, working with the Birmingham Children’s Hospital as a pioneer Changemaker is something that excites us to our core. Changemakers is a network of visionaries, united by a passion to transform the lives of sick children at Birmingham Children’s Hospital. We are working closely with the charity to continue on their mission to deliver state-of-the-art, life-saving equipment and provide inspiring, child-friendly spaces at the hospital. 

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## **NOTES TO THE FINANCIAL STATEMENTS (** _**CONTINUED**_ **) for the year ended 30 June 2025** 

## **10. Statement of Charity Funds** _**(continued)**_ 

## **Designated funds** _**(continued)**_ 

_The Legacy Project_ 

We’re so proud of The Legacy Project and its mission to grant applications to women affected by cancer. With the support of our incredible ambassadors, who are themselves cancer survivors and ‘Legends’ of the Feel Your Breast campaign, we have given grants to many incredible women to help support them on their journey, from wishes off their ‘living lists’, to supporting their mental health in relation to cancer. This programme is life-changing for so many women in the UK. The Trustees designated a further £90,000 of funds to be used for these grants going forward. 

## **11. Related Party Transactions** 

M Marsden and D Marsden, trustees, are also directors of Lounge Underwear Limited. During the year, Lounge Underwear Limited donated £272,603 (Period ended 30 June 2024: £394,541) to the Foundation. As at 30 June 2025, the Foundation owed £Nil (2024: £2,310) to Lounge Underwear Limited. 

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Thank you to all of our supporters, charity partners, our trustees and the incredible Lounge community who give so generously.