2022-12-31-accounts

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The women’s health charity

Annual Report and Accounts to 31st December 2022

Charity Reg no: England & Wales: 239281, Scotland: SC042856. Company number: 00824076

Introduction	3
Trustees’ report
About us: Digital Transformation	5
Research	6
Advocacy	11
Education	14
Fundraising	15
Afliations	17
Our year in numbers	18
Financial summary	19
Financial review	20
Structure, governance & management	24
Reference & administrative details	26
Fundraising statement	28
Statement of trustees’ responsibilities	29
Independent auditor’s report	30
Accounts
Statement of fnancial activities	36
Balance sheet	37
Statement of cash fows	38
Notes to the accounts	39

Introduction

It has been another exciting year for our charity, building on the progress made possible by our new Five Year Strategy to save and change the lives of women, girls and babies. We continue to invest in worldclass pioneering research, while advancing in new areas: education and advocacy.

During 2022, we saw the launch of a new campaign raising awareness of women’s experiences of the menopause; our inaugural Women’s Health Summit took place with top speakers and activists; and our investment of £1.3million in research with our partners to make ground-breaking improvements.

We invested in funding 12 new research studies at top UK institutions and universities. In total, this brings the number of studies we are currently funding to 40. These new awards focus on women’s health across the life-course and include common issues that affect many women such as heavy, irregular and painful periods; pregnancy care including antenatal screening and abortion services; and gynaecological cancers.

The phenomenal success of our campaign, the Menopause Workplace Pledge, continues, with over 2,200 employers now committed to offering meaningful menopause support to millions of employees across the country. We launched a new campaign called ‘Let’s #ChatMenopause’ and produced a series of films to encourage people to share their menopause experiences to tackle the stigma and taboo that still surrounds this inevitable life stage for most women.

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Professor Dame
Lesley Regan, Chair
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Through this new campaign, we have reached millions of people and thousands of women have been sharing comments, stories and experiences on social media.

At the end of September, we were proud to host our first Wellbeing of Women Summit: Challenging the Status Quo, in partnership with WPA Health Insurance. This event featured many inspiring women pioneering for change and tackling taboos in women’s health.

Our events have continued to draw lots of support, with a return to Oxfordshire for the annual Celebrity Cricket Match in June in memory of our long-time supporter, Shane Warne. We also hosted a literary lunch with Queen Elizabeth II biographer Robert Hardman at Fortnum and Mason and our annual City Christmas Fair, which

hit a major milestone of raising over £1 million for women’s health since it started 20 years ago.

Thanks to our supporters, fundraisers and volunteers, including our local branches, for all their efforts this year. We’ve had runners participating in events across the UK, including our Ambassador Rosie Tapner, who competed in the London Marathon.

We’d like to welcome our new Ambassadors Dr Nighat Arif, Rosie Nixon, Penny Lancaster, Davina McCall and Cherry Healey.

We’d also like to thank Sir Ian Powell and Professor Mary Ann Lumsden for their long-standing, significant contributions to the charity, as they step down from the Board of Trustees.

It is a challenging time for women’s

health across the country, as pressures on the NHS continue to grow. Yet I promise that in my capacity as Chair of Wellbeing of Women, and my recent appointment as Women’s Health Ambassador for England, I will work tirelessly to ensure that women and girls are empowered with accurate information, healthcare services are wrapped around their specific needs, and investment continues in high-quality research to pioneer new cures, tests and treatments.

With the continued support and hard work of our researchers, volunteers, partners, sponsors, and, most importantly, women, we are confident that we can continue to make a difference for every woman, girl and baby in 2023 and beyond.

I look forward to working with all of you in the years ahead.

Professor Dame Lesley Regan, Chair

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Mariella Frostrup, Prof Dame Lesley Regan, Janet Lindsay and Dr Nighat Arif at the
Wellbeing of Women Summit: Challenging the Status Quo in September
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About us

It’s an exciting time in women’s health. There is promise of change, with a new Women’s Health Strategy in England launched in the summer, and the ongoing Women’s Health Plan in Scotland committed to tackling the gender health gap.

At Wellbeing of Women, we want to make sure this progress does not falter. This is why we have taken steps to ensure we deliver on our Five-Year Strategy and continue to invest in women’s health research, education and advocacy.

As part of this, we have started a digital transformation programme, integrating digital best practice into our work.

Our digital content is increasingly accessible, and now reaches millions of people. Informed by women’s voices, our new website is easier to navigate so that people can find the information they need, whether they are researchers seeking funding, supporters who want to get involved, or women with heavy periods, infertility or a gynaecological cancer.

Social media reach increased by 83% and email subscriptions were up 138% compared with 2021

We are very excited to have launched a new website and branding across our digital channels at the end of 2022, highlighting the bold direction we are taking.

In 2022, we welcomed 86% more traffic to our website than the year before

We have also made it easier for people to book tickets for our exciting events on our website, whether it be a health webinar or fundraising challenge. Donations can now be made by bank card, PayPal, Apple Pay and Google Pay.

It’s only through our supporters’ valued donations and fundraising support that we can continue to save and change the lives of women, girls and babies.

Research

In 2022, we invested in 12 new research studies at various top UK universities and institutions. This brings the total number of studies we are currently funding to 40. Over £4.75 million has been invested in these exciting programmes of work to date.

Since 1964, we have invested over £67 million in 588 research projects. Many of these have led to medical breakthroughs in the care of women, girls and babies.

Our new awards continue to address health issues across a woman’s life course, such as heavy and painful periods; gynaecological conditions, such as endometriosis; complications of pregnancy and the provision of care that women receive, including abortion services and antenatal screening; and the detection, diagnosis and treatment of gynaecological cancers.

Throughout the year, we were excited to announce new research partnerships with the British Society for the Study of Vulval Disease, British Maternal and Fetal Medicine Society, British Gynaecological Cancer Society and Pharmacy Research UK. These new partnerships, alongside existing collaborations with our esteemed partners, enabled us to leverage over £500,000 towards new women’s health research during the year.

Although the Covid-19 pandemic is now behind us, we continue to feel its effects and again welcomed financial support from the UK Government Covid Medical Research Charity Support Fund.

This support has been crucial in allowing us to sustain support for our brilliant earlycareer researchers, helping to develop them into future leaders in women’s health.

It would be impossible to invest in the very best research projects without the insight, expertise and hard work of the independent panel of women’s health specialists who make up our Research Advisory Committee. It is due to their support and dedication that we have a reputation for funding only the highest quality research.

Thanks also go to the many expert peer reviewers who give up their time to assess research proposals received by our charity.

We would also like to thank the researchers, whose passion and energy is at the heart of the charity’s mission to improve the lives of women, girls and babies.

Above: Our researcher Dr Roseanne Rosario

Think Menopause

To build on our existing research supporting women going through menopause in the workplace, we awarded a clinical fellowship in partnership with NHS England to empower healthcare professionals working in community and primary care to ‘Think Menopause’. This new research is focusing on the barriers to menopause care and how to improve services, and support women in seeking and receiving the menopause care that they need.

New projects awarded in 2022

Pregnancy

Miss Rebecca Claire Tothill-Miller - Antenatal screening

Exploring the care provided to women with placenta accreta spectrum disorder, a rare but serious condition in which the placenta grows too deeply into the wall of the uterus. It is on the rise mainly due to increasing rates of caesarean births.

Co-funded by the Royal College of Midwives and Burdett Trust for Nursing

Mrs Terri Brosnan - Termination of pregnancy for fetal anomaly

Exploring the situation women and partners face when their unborn baby is found to have a significant abnormality and how this impacts their preferences and experiences.

Co-funded by the Royal College of Midwives and Burdett Trust for Nursing

Ms Rebecca Blaylock – Abortion services

Looking at what impact the introduction of telemedicine has had on abortion accessibility and equitable provision of services in England and Wales.

Co-funded by the National Institute for Health and Care Research

Dr Hannah Rosen O’Sullivan - Preterm birth

Developing earlier and more accurate prediction of the chance of a woman having a premature baby, by measuring the softening or stiffness of the cervix prior to labour.

Co-funded by the British Maternal and Fetal Medicine Society

Dr Kate Duhig - Hypertensive disorders of pregnancy

Using MRI to assess whether anatomical changes to the heart and placenta identify women at risk of pre-eclampsia.

Funded with generous support from the Sir Victor Blank Charitable Settlement

Professor Nicola Robertson - Protecting babies’ brains

Searching for a cheap, globally accessible, and effective treatment to protect the brains of babies born following a difficult birth.

Co-funded by the Bill and Melinda Gates Foundation

Dr Emmanuel Amabebe - Preterm birth

Predicting and preventing premature births due to vaginal infections.

Funded with generous support from the Sir Victor Blank Charitable Settlement

Dr Hui Wei Leow - Diabetes in pregnancy

Looking at how a mother’s blood glucose levels affect baby’s growth and the function of the placenta.

Menstruation

Dr Lucy Whitaker - Endometriosis

Evaluating the clinical effectiveness of a new treatment for endometriosis in a trial of 100 women, to determine whether it can reduce endometriosis-associated pain and improve quality of life.

Dr Marianne Watters - Heavy menstrual bleeding

Examining menstrual fluid to inform the clinical management of heavy periods, which up to one in three women experience heavy menstrual bleeding

Co-funded by the Scottish Government

Gynaecological cancers

Dr Ankit Chadha - Ovarian cancer

Investigating the use of mass spectrometry - a process used to find out the mass of particles - to identify tumours mostly likely to respond to PARP inhibitors, a recently introduced treatment for ovarian cancer.

Co-funded by the British Gynaecological Cancer Society

Dr Maria Paraskevaidi - Cervical and vulval cancer

Using innovative technologies for the early detection and diagnosis of cervical and vulval precancer and cancer.

Co-funded by the British Gynaecological Cancer Society

What has our research achieved?

Pregnancy

Professor Molly Stevens & Mr Richard Smith – Treating infertility and recurrent miscarriage

The research team developed a novel, targeted therapy (a hydrogel) for preventing the formation of scar tissue in the womb and promoting healthy healing.

Scar tissue prevents the lining of the womb from functioning normally and can cause infertility. The team showed that this gel can support the growth and reproduction of cells in the womb, enhance blood vessel development and alter the behaviour of immune cells to favour tissue repair.

The team now hopes to explore whether this gel can treat scarring that already exists inside the womb and to see if fertility and pregnancy outcomes could be improved. This could lead to a treatment for a condition known as Asherman’s syndrome - in which scar tissue builds inside your uterus - and improve reproductive outcomes for patients.

Professor Marian Knight - Antenatal care for pregnant women with Covid-19

This research showed the safety and effectiveness of the Covid-19 vaccine for pregnant women and their babies. The findings fed into government guidance, leading to the

Miss Anna Marsh - Midwives’ and women’s use of social media

Findings suggest that social media could be used in a positive way by women and midwives to share health and wellbeing information.

Current Instagram usage by midwives is not representative of the broad spectrum of births, but more research is required to understand the motivation behind their posts.

The Harris-Wellbeing Preterm Birth Centre

Led by Professor Zarko Alfirevic, the HarrisWellbeing Preterm Birth Centre in Liverpool has demonstrated novel approaches to investigating three big questions within preterm birth prevention: How can we better predict who will give birth preterm? How can we reduce the risk of preterm birth? Which current treatments are the best for preventing preterm birth?

The centre has established a multidisciplinary group of experts and high-calibre trainees to

vaccine roll-out for pregnant women during the pandemic. Pregnant women are known to be more vulnerable to Covid-19 and, thanks to this work, women and their babies will be happy, healthy and safe.

We are thrilled that Anna has won funding from Health Education England and the National Institute for Health and Care Research to continue her research on social media and maternity services.

Co-funded by the Royal College of Midwives and Burdett Trust for Nursing

address one of the key unmet needs in the care of pregnant women - the management of pre-term birth - and has raised the profile of preterm birth research in the UK. The centre has been successful in identifying potential biomarkers for preterm labour, demonstrated the best medical approaches for preventing contractions and identified areas for future novel research.

Funded with generous support from Lord and Lady Harris

Premature menopause

Dr Roseanne Rosario – Premature menopause

This research has found that in women who develop premature menopause, a faulty gene causes cells in the ovary to die and lose their function. This work has formed a solid platform

for research into premature menopause and with further research could lead to a treatment.

Gynaecological cancers

Professor Gordon Jayson – Treating ovarian cancer

This research has identified molecules that bind together (a molecular complex) in women with ovarian cancer, which predicts whether they will have a disadvantage from bevacizumab, a medication used to treat ovarian cancer. This complex molecule could

serve as a simple biomarker and allow for doctors to predict which patients would benefit from alternative treatments. Although further research is needed, this is an important step to improving clinical outcomes for patients with ovarian cancer.

Research highlight: Addressing health inequalities in maternal and neonatal care

During 2021, we supported a project that carried out a systematic review of all previous evidence on what factors can predict stillbirth.

The project, part funded by Wellbeing of Women and the National Institute for Health and Care Research, is the largest global review of its kind and has shown that babies born to Black women are more likely to be stillborn or die in the first four weeks of life than those born to white women.

The findings are similar across high and upper-middle-income countries, showing that babies from under-represented racial and ethnic groups being more likely to die is a global phenomenon.

Lead researcher Dr John Allotey and his team studied data on more than 2.2 million pregnancies across 20 countries, including the UK, US, Canada, and other countries in Europe and around the world such as Brazil, Australia and New Zealand.

The review also found that Black mothers experienced worse outcomes including preterm birth and small-for-gestation-age babies leading to increased risk of health complications.

Hispanic mothers experienced worse neonatal mortality with three times as many babies dying in the first four weeks after birth compared to white women across the countries considered for the study.

Mothers from South and East Asia had significantly higher rates of preterm birth and

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Dr John Allotey, Lecturer in
Epidemiology and Women’s
Health, University of Birmingham
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small-for-gestation-age babies.

While the analysis of 51 papers demonstrates the scale of inequalities between groups, the research group point out a lack of data identifying the scale of the risks faced by women from racial and minority ethnic backgrounds.

Dr Allotey said: “We urgently need to answer the question about why these systematic disparities exist around the world. We do already know that there are barriers that disproportionately affect women from racial and ethnic minority backgrounds, and part of addressing this tragic perinatal outcome gap is having better data on underserved populations.

“More data will enable clinicians to plan better interventions to serve minority mothers, and also provide better accountability to close the gap.”

Dr Allotey’s findings were published in the Lancet journal.

Case study: Jenny Prigg

In 2013, Jenny and Paul were excitedly planning for the birth of their first child. Tragically, their son, Tom, was stillborn at 37 weeks.

Jenny’s pregnancy had been straightforward and healthy, but during her last day at work before maternity leave, she realised she hadn’t felt Tom move.

She called the hospital and, accompanied by Paul and her mum, went for a check-up. Sadly, the

midwives and consultant couldn’t find Tom’s heartbeat. Like so many stillbirths, no cause was ever identified.

Jenny credits her family and friends with helping her cope with the devastating grief of losing her son. Now a mother of three, she says Tom remains very much a part of their family and is talked about often.

Jenny says research is vital to

understand why stillbirth occurs and avoid the heartbreaking loss that families experience.

Advocacy

Let’s #ChatMenopause

In October 2022, we launched ‘Let’s #ChatMenopause’, a new campaign helping to make menopause an everyday part of conversation and breaking down barriers to enable women to get the support they need.

The campaign followed our survey, which found more than 4 in 5 (86%) UK women aged 4565 believe public awareness, education and conversations about the menopause are lacking, leaving many unsure where to get information, advice and support.

Millions have been reached through the campaign and over 1,000 women engaged in conversations on social media

The survey of 2,000 people also revealed that of the women who reported being menopausal, more than 1 in 2 (57%) would be more likely to share their own menopause or perimenopause experience publicly if they saw others doing it more regularly.

This rose to almost 3 in 5 (59%) for those who said they were perimenopausal.

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Kate Thornton and women from the
Armed Forces
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Lisa Snowdon and her partner George
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They include our new Ambassadors Penny Lancaster and Dr Nighat Arif, as well as Carolyn Harris MP, broadcaster Zoe Hardman and her sister Kathryn, former Olympian Michelle GriffithRobinson, and TV presenter Lisa Snowdon and her partner George. Films also featured women from the Armed Forces and colleagues from Tesco in discussion about their experiences.

As part of the campaign, we released a series of emotive and candid films of women speaking about the menopause.

We then invited others to join the conversation on social media by using the hashtag #ChatMenopause to share their stories.

Above: Penny Lancaster and Carolyn Harris in Let’s #ChatMenopause, above right, Penny on the Lorraine Show discussing our new campaign. She also appeared on Sky News and ITV News.

“It was a really hard time for me, my husband Rod, and my family, but I’m thankful that I was able to get the help I needed.”

Penny Lancaster, Wellbeing of Women Ambassador, Menopause Advocate and Special Police Constable

Menopause Workplace Pledge

Our first campaign, the Menopause Workplace Pledge, has gone from strength to strength in 2022.

It was first launched in October 2021, in partnership with HELLO! Magazine and supported by Bupa.

Over 2,200 employers have signed up to the pledge including the BBC, Civil Service, NHS England, House of Commons, AstraZeneca, Amazon, Co-op and Royal Mail, covering millions of workers across the country.

By signing the pledge, these organisations have committed to recognising menopause can be an issue in the workplace, talking openly, positively and respectfully about the menopause and actively supporting and informing employees affected by menopause.

when the NHS - the largest employer in the UK with 1.3 million staff, of which 75% are women - signed this year. NHSE have published the first ever menopause policy for the organisation, which includes specific guidance on how line managers can support their staff experiencing the menopause.

So far, 3,000 individuals have also joined the campaign, committing to raising awareness of the menopause and encouraging support in the workplace.

A huge turning point in the campaign came

93% of organisations surveyed say the Menopause Workplace Pledge has driven positive improvements in their workplace

Employer spotlight: House of Commons

We were delighted to attend a special signing of the pledge by Commons Speaker Sir Lindsay Hoyle in June.

A host of TV presenters and menopause campaigners including Mariella Frostrup, Penny Lancaster, Liz Earle, Lisa Snowdon and Carolyn Harris MP joined Sir Hoyle as he pledged to introduce measures to make life easier for those experiencing menopause symptoms on the parliamentary estate.

“I want to break the taboo – just as we did with mental health issues – and get everyone in our parliamentary village talking about the menopause and offering support,” said Sir Hoyle.

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Sir Lindsay Hoyle signing the
pledge with a host of celebrities
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Menopause Xplored

Building on the success of the pledge, we are excited to announce Menopause Xplored.

We received funding from the VCSE Health and Wellbeing Fund, part of a partnership programme between the Department of Health and Social Care, NHS England and UK Health Security Agency.

The grant will fund a two-year project supporting small and medium-sized businesses across Milton Keynes and Bedfordshire, so that more workplaces are offering support to those who may need it.

The training will take place through a series of guided workshops in which a short immersive film about one woman’s experience of menopause will be shown through VR headsets.

Following the film, participants will reflect on their own experiences and challenges around providing menopause support in their workplaces.

We are working with Menopause Reality, a multifilm immersive project from Forward Slash Films, and Diane Danzebrink from Menopause Support, a UK menopause expert, trainer and campaigner.

Credit: UK Parliament/Jessica Taylor

Advocating for women’s health in Westminster

Top to bottom: Wellbeing of Women Ambassador Dr Nighat Arif (centre) with campaign group AdenoGang; Menopause Mandate rally; our CEO Janet Lindsay with AMRC CEO Nicola Perrin at a parliamentary event; Janet Lindsay on Sky News with Kay Burley, with Latte Lounge Founder Katie Taylor

As part of the Menstrual Health Coalition, we play a key role in raising the profile of menstrual health on the political and policy agenda, reducing the stigma around periods, and campaigning for change to help anyone adversely affected by their menstrual health.

In December, we took part in a parliamentary event hosted by the Coalition, which heard from women affected by menstrual disorders and the doctors who provide care. A series of recommendations will be put forward to ministers in 2023.

We are a supporter of the

Menopause Mandate, a group of campaigners who share a common interest in the menopause, with the goal of revolutionising the support and advice women receive. Our team took part in a rally with campaigners and supporters, raising awareness and calling for more action to improve women’s experiences.

As a member of the Association of Medical Research Charities, we took part in its parliamentary event to engage high-level ministers on the importance of investing in medical research. Our team met with MPs and other stakeholders to discuss the importance of safeguarding the future of research to improve the health of women, girls and babies.

We sit on the NHS England Clinical Reference Group on the menopause, advocating for better treatment, care and support through improvements to the clinical pathways within the health system.

We worked with Nurofen to raise awareness of the gender pain gap. On the launch of Nurofen’s Gender Pain Gap Index, our CEO Janet Lindsay was interviewed on Sky News to talk about how women’s pain is too often overlooked and dismissed and called for urgent action.

Education

In September, we hosted our first Wellbeing of Women Summit: Challenging the Status Quo, in partnership with WPA Health Insurance. Bringing together women’s health advocates, the event focused on how women’s voices can and are driving change.

Hosted by TV presenter Cherry Healey, panellists included (L-R in image) presenter and menopause advocate Davina McCall, President of the Royal College of Obstetricians and Gynaecologists Dr Ranee Thakar, chair of the Women and Equalities Committee Caroline Nokes MP, Five X More co-founder Clo Abe, NHS GP Dr Nighat Arif, and many others.

Guests heard about innovations in women’s health and priorities in the government’s first Women’s Health Strategy from our Chair Professor Dame Lesley Regan, in her role as Women’s Health Ambassador, and what they can be doing to advocate for positive change.

“When women do ripple effect, we do it really well.”

Davina McCall, Wellbeing of Women Ambassador, Menopause Advocate and TV Presenter

We kick-started our webinar programme with three-part mini-series ‘Let’s Talk Periods’, with medical experts and women with lived experiences speaking about adenomyosis, fibroids, polycystic ovarian syndrome (PCOS) and endometriosis.

We also hosted webinars on miscarriage, gynaecological cancers, menopause and fertility. We’d like to thank Bolt Burdon Kemp and Financial Services Compensation Scheme for sponsoring our webinars.

We hosted our very first Instagram Lives. The first, ‘Speak up cysters!’, looked at PCOS with Personal Trainer and Influencer Alice Liveing and Dr Anita Mitra aka GynaeGeek. The second was on menopause with presenter Lisa Snowdon and menopause expert Dr Zoe Schaedel.

We collaborated on an IG Live with Jo’s Cervical Cancer Trust for Cervical Cancer Screening Awareness Week, putting forward our Ambassador Dr Nighat Arif as an expert speaker.

Top: Dr Anita Mitra, above, Alice Liveing

The IG Lives had over 30,000 views and we will continue to develop them in 2023 and beyond!

Fundraisin g

Our events calendar was as busy as always in 2022. We held a Literary Lunch in spring at Fortnum and Mason, with Robert Hardman in conversation with our Ambassador Rosie Nixon about his biography of Queen Elizabeth II.

In the summer, we returned to Oxfordshire for our 34th Annual Celebrity Cricket Match in memory of the late Shane Warne, where we announced our Wellbeing of Women Shane Warne Memorial Fund.

We ended our events calendar with the annual City Christmas Fair at the beautiful Drapers’ Hall, hitting the major milestone of over £1 million raised for women’s health since its inception 20 years ago.

This year’s Volunteer Conference returned as an in-person event and we were delighted to be joined by individual fundraisers, branch members and our researcher Dr Ashley Boyle who discussed her work on the prevention of pre-term birth caused by infection. The strategy session was really successful in planning for our activities in 2023 and beyond.

We received invaluable support – both financial and in-kind – from many of our long-term and new corporate supporters including PwC, Bupa, WPA Health Insurance, Bayer, Bain Capital, BGC Partners and Reckitt. As always, we are hugely appreciative of fundraising efforts and donations from all of the organisations, community groups and individuals who contributed to our work in 2022.

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Credit: sloetry
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“I remember pain from the very first day I had my period.”

Kat Francois, personal trainer and advocate for women’s health

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Wasim Akram
and Brian Lara
at the Celebrity
Cricket Match
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Dr Nighat Arif, Prof Dame Lesley Regan,
Rosie Nixon and Janet Lindsay
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Appeals

For International Women’s Day, we launched a Big Give Appeal to raise money for period education and awareness. As part of the campaign, women shared their experience of living with conditions such as polycystic ovary syndrome, adenomyosis and endometriosis.

Our year ended with another Big Give Christmas Challenge raising funds for research that will improve outcomes for vulnerable pregnant women. Thanks to matched funding from the Big Give and The Julia and Hans Rausing Trust (Christmas Appeal), and the generosity of our supporters and donors, we raised over £50,000 through our appeals in 2022.

Challenges

Our supporters took the term ‘challenge event’ to new heights in 2022, with 23-year-old Miriam Payne taking on the challenge of a lifetime in the Talisker Whisky Atlantic Challenge.

Miriam set off on her 3,000-mile journey from La Gomera in the Canary Islands to Antigua on 12 December.

Braving high tides and strong winds, Miriam has raised over £16,000 for Wellbeing of Women and Hull and East Yorkshire Mind.

Top right: Miriam Payne in the TWAC. Below: Fundraiser Natasha Still and her husband. Bottom: Digital Communications Officer Liv in the Hackney Half

The Walking Women fundraising group led the way with our first independent challenge event ‘Miles for May’ which, along with supporters across the UK, raised over £5,000.

The Walking Women also took on the Manchester 10K raising over £1,000. Led by fundraiser Natasha Still, the group will be taking on new challenges in 2023 including 10km runs, half marathons and sponsored swims.

We’d like to thank everyone who has supported Wellbeing of Women and helped raise vital funds for women’s health in 2022.

We had over 90 fundraisers take part in challenge events in 2022, with supporters taking on the London Landmarks Half Marathon, Manchester 10K, London Marathon, Royal Parks Half Marathon, Hackney Half Marathon, Glasgow Half Marathon, Cambridge Half Marathon, Ultramarathons, 3 Peak Challenges and cycling challenges.

We are so grateful to all those who have fundraised for us, with an amazing £50,000 being raised.

Affiliations

We would like to recognise our esteemed research partnerships and thank the groups that work with us to support women’s health.

The Thompson Family Charitable Trust

Our year in numbers

£1.3M

12 new research studies awarded

new funding committed to women’s health research with partners

6 new research discoveries

40 active research studies

Over 30k

views of our 50k Instagram Lives views of our webinars and YouTube videos

Social media

4.9k followers 4.3k fans Up 145% Up 26.5%

13k followers Up 44.4%

15k followers Up 7.1%

Social media percentages comparing 2022 against 2021

Financial summary

Income

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Investments
Other £85,381
£250,509
Public donations &
£2.57 million events
Institutional £686,533
donations
£845,713
Corporates
Trust & Foundations
£300,718
£404,087
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Income, ‘Other’ includes institutional donations, other trading activities and donated services.

Expenditure

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Raising funds
£582,453
Education
£154,644
£2.52 million
Research
£1,388,307
Advocacy
£391,415
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Expenditure, ‘Grants for medical research and training’ includes new funding and other grant-related costs.

Financial review

Income

Income continued to recover and grow following the initial drop during the pandemic, increasing in 2022 to £2.573m (2021: £2.245m). This represented the charity’s largest income in over five years, proving the strength of the strategy and growth ambitions. Growth was driven by an increase in restricted funding, particularly in the form of research partnerships and co-funded grants. Income from investments was higher at £85k (2021: £64k), although there was a net loss on the valuation of investments of £240k (2021: £216k gain) as the effects of the war in Ukraine and supply chain issues affected the markets.

Expenditure

The expansion of Wellbeing of Women’s strategic activities to include Education and Advocacy is evidenced in the significant increase in expenditure on charitable activities for 2022 at £1.934m (2021: £1.135m), whilst as noted above Research spending was also increased alongside the new activities thanks to the increase of co-funding partnerships. Fundraising costs increased very slightly from the prior year to £582k (2021: £554k), reflecting the growth of the team to support the charity’s ambitions. Total expenditure was significantly increased to £2.517m (2021: £1.688m) but this was driven by the increase in expenditure on charitable activities.

Pension liability

Included in the accounts is a liability arising from the current actuarial valuation of the Royal College of Obstetrician and Gynaecologists (RCOG) defined benefit pension scheme of which Wellbeing of Women is a minority employer. Wellbeing of Women’s share of the scheme’s deficit is currently set at 4.25% of the total. The total present value of the charity’s liability is £6k (see Note 19). Wellbeing of Women’s Trustees are confident that this liability can be met from current and future income. As described in the note a buy-out of the pension scheme is currently in progress and this is reflected in the calculation of the liability. In 2014, the Trustees decided to close entry for employees to the RCOG defined benefit scheme and to offer a new multi-employer defined contribution scheme administered by The Pension Trust on a comparable basis.

Reserves

Each year, Wellbeing of Women awards research grants and training/educational grants. Grants are only awarded if there are unrestricted and / or restricted funds available to their full value, thereby guaranteeing funding to recipients.

At the end of 2022, Wellbeing of Women had unrestricted funds of £1.896m (2021: £2.171m) and restricted funds of £324k (2021: £175k). The Trustees are satisfied that the surplus free reserves, together with balances in restricted and designated funds, form a secure base to fund charitable expenditure in 2023.

Restricted Funds may be restricted in several ways, for example: on a particular field of research, type of award, or geographical area; to a specific award already underway; or for a non-Research project in Education and/or Advocacy. The Trustees seek to apply restricted funds to optimum benefit at the earliest opportunity, and to release unrestricted funds that have been previously committed, to underwrite new grant awards.

The unrestricted and restricted funds brought forward from the previous year are available for the Trustees to make awards in the current year. In determining the amounts to be committed, the Trustees are mindful of the current fundraising performance of the charity before making grant commitments.

The Trustees reviewed the reserves policy and consider it appropriate to maintain free reserves above a minimum target of £625k in order to protect the charity in the following risk scenarios:

Fall in value of investments - the policy adopted by the Trustees for making awards means that the ability to honour existing awards is not dependent upon fluctuations in the value of the charity’s investment portfolio.
Failure of fundraising - the Trustees believe that the charity should ordinarily be managed as a going concern with continued ability to generate an operating surplus and fund new research and training awards. To cope with unforeseen fluctuations in income, the Trustees deem it prudent to hold approximately six months operating costs (excluding event costs). In addition to the 6 months operating costs, an additional 6 months of charitable activities budget (excluding research) is deemed prudent to be included in the policy to ensure the continuation of the charitable mission in the event of a funding crunch.

The Trustees designated three new funds within unrestricted funds:

Designated Fund for long term commitments: £500k (2021: £500k) – Funds earmarked to provide cover for at least four months of current grant liabilities in the event of a loss in value of portfolio investments or fundraising issues. This is calculated as a proportion of the current portion of long-term grant liabilities, not to exceed 33% of the total value.
Designated Fund for research: £650k (2021: £650k) – Funds earmarked to provide new research grants in-year. The value is based on the budgeted grants expected for 2023, not including those to be awarded with restricted funds.
Designated Fund for campaigns and other charitable activities: £75k (2022: £250k) – Funds to implement the strategy and facilitate the new activities for education and advocacy, based on 18 months of budgeted spend.

After restrictions and designations of funding the charity held £671k of free reserves in total (2021: £771k), above the minimum target of £625k. The reserves policy is reviewed by Trustees each year to ensure it remains relevant to the ongoing requirements of the charity.

Risk management

The Trustees have reviewed the risks that the charity faces, particularly those related to Strategic, Operational and Financial Risks using a Risk Register that is regularly reviewed by both the Audit Committee and the Board, implementing appropriate policies, procedures, and systems to mitigate the charity’s exposure.

The growth ambitions of the charity driven by the strategy and the new activities of Education and Advocacy represent a significant risk, coupled with a budgeted deficit to finance the growth in the short-term. The Trustees review the ongoing investment in the Executive team and new projects, using management and project accounts with cash flow forecasts, quarterly reforecasting and regularly stress test the financial resilience of the organisation through scenario testing and 12-month cash flow forecasts.

The war in Ukraine, ongoing supply chain issues, cost of living crisis and other uncertain conditions have been identified as a significant risk to the charity. The Trustees have considered the implications of external economic conditions during a period of growth and included expenditure decision points to control the projected deficit as the charity grows.

The Trustees have concluded that due to the discretionary nature of a substantial element of its annual spend, the strength of the Investment Policy protecting the value and liquidity of its reserves such that operational costs and long-term Grant commitments can all be met, that Wellbeing of Women has sufficient funds to continue its operation for the foreseeable future.

More specifically, the major risks identified, and mitigations are set out below:

Growth ambition of the charity to increase the team size and deliver more and new charitable activities of Education and Advocacy whilst maintaining Research spend. Trustees have implemented robust controls to monitor and adjust spending based on income forecasts throughout the year. New expenditure has been designed to be modular and discretionary wherever possible to enable flexibility of expenditure without overcommitting.
Inability to pay grants due to loss of investment value – Trustees are satisfied that the investment policy, portfolio positioning, and expert management from Cazenove and reporting to the Board of Trustees, adequately mitigates this risk, as has been proven in 2020.
Loss of quality applications and integrity of Grant process:
Applications are invited annually, and these are assessed by the charity’s Research Advisory Committee (RAC), an independent panel of 20 leading obstetricians, gynaecologists, midwives, and specialists in women’s health, from across the UK.
We operate an open application process and the charity funds medical research projects connected to women’s gynaecological and reproductive health from any researcher in the UK and Ireland.
All applications are reviewed by our RAC.
Furthermore, all Research Training Fellowship applications and Project Grant applications which score above a pre-set threshold (chosen by a rigorous and transparent triage process) are subject to intensive international peer review by active researchers with expertise relevant to each application. The midwifery awards are also reviewed by a panel of distinguished midwifery researchers. This ensures that the RAC of the charity has the benefit of expert specialist opinion on the viability of the project, the ability of the applicant to deliver, the feasibility of the timescale and the budget and impact the work will have.
The RAC’s criteria for assessment include scientific validity, potential for improving clinical practice, translational impact, the resulting benefit to women’s health and cost effectiveness.
Those applications meriting award are put forward by the RAC to Trustees for consideration. Trustees make funding decisions with strategic guidance from the RAC and RCOG.
The outcomes of previous investment are reviewed regularly by Trustees and the RAC to identify any learning that could improve this process.

Through this process, the Trustees are satisfied that the major risks identified have been managed. It is recognised that systems can only provide reasonable, but not absolute, assurance that major risks have been adequately mitigated.

A large proportion of the charity’s expenditure is discretionary, being related to events and awarding grants. Given this, the use of the investment portfolio and the reserves being structured in such a way to ensure the funding of existing commitments, the Trustees have concluded that the charity will be able to maintain its operations into the future. The Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future, being 12 months from the signing of the accounts.

Investment Policy

Wellbeing of Women grants are awarded only if there are unrestricted or restricted funds available to their full value, thereby guaranteeing funding to recipients. Wellbeing of Women’s investment policy, therefore, aims to maximise the return available on these funds from within an investment portfolio created expressly for this purpose.

The policy:

Aims to match risk and time horizons of investment assets to those of the liabilities (grant creditors) and reserves (restricted and unrestricted) that they represent.
Recognises that there is a cycle whereby reserves are constantly being built up by fundraising activity, then as grants are awarded reserves move to grant creditors. These in turn are depleted over several years as grants are paid out. The complete cycle takes from 4 to 6 years, depending upon the mix of fundraising and awards.
This timeframe allows the Board of Trustees to take a long-term view to investment returns and growth – allowing the ability to ride out short term fluctuations in value, whilst continuing to meet the demands of grant creditors.
The portfolio is invested mostly in a mixture of equity and bond funds, and property and alternative funds - all being easily realisable if required.
It is the policy of the charity to specifically exclude direct investments in the tobacco industry.

Despite losing value overall in 2022 (net loss of £155k on a total returns basis (2021: gain of £280k), the positioning and asset allocation of the portfolio insulated Wellbeing of Women’s investment valuation from the worst of the market turmoil. The portfolio significantly outperformed the composite benchmark and relevant Asset Risk Consultants indices which act as a comparator to monitor performance.

Taking the relative performance of the portfolio against the market and comparative indices into account, combined with the free reserves position of the charity, the Trustees are satisfied that the performance of the investments in 2022 has met the objectives as set out above.

Grant Making Policy and Process

Background : Wellbeing of Women funds pioneering research into gynaecological and reproductive health, as well as childbirth to transform the lives of women, girls and babies. To ensure that there are successive generations of well trained and highly skilled researchers, Wellbeing of Women also invests funds to establish clinical academic pathways within the fields of obstetrics, gynaecology, and midwifery.

Additionally, these training grants support the training of the individual applicant, allowing them to improve their skills and understanding.
The charity is a member of the Association of Medical Research Charities (AMRC) and our grant making process is accredited for quality and best practice by AMRC following its 2020 Peer Review audit. Grants are awarded to researchers at recognised research centres throughout the UK.

Structure, governance and management

Constitution

Wellbeing of Women is a Registered Charity (England and Wales 239281) and a Company limited by guarantee (Company no 00824076) and governed by its Memorandum and Articles of Association. The charity, founded in 1964 as the National Centre for Childbirth Research, became Birthright in 1972, Wellbeing in 1993, and Wellbeing of Women in 2004. The charity is a member of the Association of Medical Research Charities and was registered in Scotland in 2012 (SC042856).

Public Benefit

The Trustees confirm that they have complied with their duty under the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit.

Board of Trustees

The Trustees who served during the year and up to the date of approval of these accounts are listed on page 27

Wellbeing of Women is governed by a Board of Trustees who meet approximately quarterly to set policy, agree strategy and ensure that the charity’s charitable purposes are met. The Board is supported by subcommittees, each involving trustees and volunteers with the skills and experience required to help the charity deliver its objectives. Details of the remit of the subcommittees are provided below.

The Board of Trustees regularly reviews the expertise required to help the charity deliver its objectives and, if gaps are identified or a vacancy occurs, new trustees are sought with the appropriate skills or experience. All trustees are fully briefed on joining the charity and are offered opportunities to increase their knowledge and expertise as they arise.

The executive team, led by the Chief Executive, is responsible for the day to day running of the charity and delivery of its charitable activities. Financial matters are overseen by the Director of Finance and Resources who is also the Company Secretary.

Sub-Committees of the Board

The Audit Committee

The Audit Committee, chaired by a Trustee, meets at least three times per annum. The Committee considers the risk management of the charity and the Risk Register. At each level of management, a risk-based assessment of decisions is used.

The Audit Committee’s specific responsibilities are clearly set out in the Terms of Reference for its members.

Related parties and relationships with other organisations

There is a relationship between the charity and the Royal College of Obstetricians and Gynaecologists (RCOG), the latter being both the landlord of the charity and the majority holder in the multi-employer defined benefits pension scheme detailed in note 19 to the accounts. The President of RCOG serves Wellbeing of Women as a Trustee and Honorary Vice-President of the charity and abstains from any vote relating to the relationship.

Remunerations Policy

Staff salaries are reviewed annually as part of the budgeting process, considering industry benchmarks for similar roles. Performance based increases are reviewed by the Honorary Treasurer and approved by the Board of Trustees. The Chair and the Honorary Treasurer make recommendations to the full board to determine the remuneration of the CEO.

Wellbeing Trading Ltd

The charity has a wholly owned trading subsidiary, which is registered in England and Wales. Wellbeing Trading Limited has been inactive since 2008.

Scotland

Wellbeing of Women was entered onto the Scottish Charity Register on 12th January 2012. Since that time the charity has awarded over £1.2 million in new grants to Scottish led research in Aberdeen, Edinburgh and Glasgow. In addition, Wellbeing of Women raises funds in Scotland via its active Edinburgh volunteer branch and other sources.

Reference and administrative details

Chair

Professor Dame Lesley Regan DBE MD DSc FRCOG

Trustees

Margaret Horvath (Chair, Audit Committee) Philip Jansen Professor Mary Ann Lumsden MD FRCOG OBE (until 28[th] June 2022) Sir Ian Powell (until 13[th] December 2022) Debbie White (Honorary Treasurer) Lady Helen Ward Sacha Nathan Ranee Thakar Gill Walton

Chairman research advisory committee

Dr David Williams PhD FRCP FRCOG

Chief executive

Janet Lindsay

Director of Finance & Resources and Company Secretary

Helen Branch (nee Manley) (until 21[st] January 2022) David Milne (from 3[rd] February 2022)

Honorary Presidents

Sir Marcus Setchell KCVO FRCS FRCSEd FRCOG Sir Victor Blank Hon FRCOG

Honorary Vice-presidents

Professor Andrew Goddard (President of the Royal College of Physicians) Miss Ranee Thakar (President of the Royal College of Obstetricians and Gynaecologists)

Professional Advisors and banking services

Auditors

Sayer Vincent LLP Chartered Accountants Statutory Auditor Invicta House, 108-114 Golden Ln, London EC1Y 0TL

Investment Advisors

Cazenove Capital Schroder & Co. Limited, 1 London Wall Place. London, EC2Y 5AU

Bankers

National Westminster Bank Plc

10 Marylebone High Street , London, W1A 1FH

CAFCash Limited Kings Hill, West Malling, Kent, ME19 4TA

Registered and principal office

10-18 Union Street, London, SE1 1SZ www.wellbeingofwomen.org.uk

Fundraising statement

Charities (Protection and Social Investment) Act 2016

Wellbeing of Women aims to inspire people to donate funds to support our work or to raise money for us via a number means. These include applications to trusts and foundations, through relationships with individuals, partnerships with business, fundraising events, challenge events and by legacy giving.

The following principles guide our fundraising activities:

We thank supporters appropriately.
Any wish to assign a gift to a particular aspect of our work is respected.
Supporters’ data is kept secure and is not sold or shared for marketing purposes with other organisations.
Our supporters can opt out of further contact.
We do not use agencies and/or professional fundraising organisations.
We demand high standards for all fundraising activities to ensure supporters and the wider public do not feel pressured to give, and are treated with respect at all times, with a particular focus on the protection of vulnerable people.
We listen to supporters and act on their communication requests.
We are not unreasonably persistent and make every reasonable effort to respect the privacy of all donors and potential donors.
We endeavour to build long-term relationships with our supporters, enabling them to support the charity in all the different ways that they may choose.
We genuinely appreciate feedback from supporters and the public and have procedures in place to review our fundraising activities in light of feedback and complaints we may receive.

During 2022 there were no complaints relating to our fundraising activities.

Statement of Trustees’ responsibilities

The Trustees, who are also the directors of Wellbeing of Women for the purpose of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the Trustees to prepare accounts for each financial 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 charitable company for that year.

In preparing these accounts, 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 accounts; and
prepare the accounts on the going concern basis unless it is inappropriate to presume that the charitable company will continue to operate.

The Trustees are responsible for keeping adequate and proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure the accounts comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of accounts may differ from legislation in other jurisdictions.

Disclosure of information to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information (that is, information needed by the company’s auditors in connection with preparing their report) of which the company’s auditor is unaware. Additionally, the directors individually have taken all the steps necessary that he/she ought to have taken as directors in order to make himself/herself aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

By Order of the Trustees

Professor Dame Lesley Regan DBE MD DSc FRCOG Chair Dated: 13[th] July 2023

Independent auditor’s report

To the members of

Wellbeing of Women

Opinion

We have audited the financial statements of Wellbeing of Women (the ‘charitable company’) for the year ended 31 December 2022 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Give a true and fair view of the state of the charitable company’s affairs as at 31 December 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended
Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice
Have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended)

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on Wellbeing of Women’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Independent auditor’s report

To the members of

Wellbeing of Women

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

The information given in the trustees’ annual report, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
The trustees’ annual report, been prepared in accordance with applicable legal requirements

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report,

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

Adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

Independent auditor’s report

To the members of

Wellbeing of Women

The financial statements are not in agreement with the accounting records and returns; or
Certain disclosures of trustees’ remuneration specified by law are not made; or
We have not received all the information and explanations we require for our audit; or
● The directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ annual report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with regulations made under those Acts.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material

Independent auditor’s report

To the members of

Wellbeing of Women

misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

We enquired of management, which included obtaining and reviewing supporting documentation, concerning the charity’s policies and procedures relating to:
Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;
Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;
The internal controls established to mitigate risks related to fraud or noncompliance with laws and regulations.
We inspected the minutes of meetings of those charged with governance.
We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience.
We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit.
We reviewed any reports made to regulators.
We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.
We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Independent auditor’s report

To the members of

Wellbeing of Women

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Joanna Pittman (Senior statutory auditor)

25 July 2023

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006

Wellbeing of Women

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 December 2022

For theyear ended 31 December 2022
				2022		Restated*	2021
		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	Note	£	£	£	£	£	£
Income from:
Donations and legacies	2	735,619	419,765	1,155,384	865,740	959,039	1,824,779
Charitable activities
Research	3	2,500	735,749	738,249	-	20,800	20,800
Advocacy	3	20,000	72,895	92,895	20,000	-	20,000
Education	3	17,000	107,464	124,464	-	-	-
Other trading activities	4	374,891	1,677	376,568	315,041	-	315,041
Investments	5	85,381	-	85,381	64,390	-	64,390
Total income		1,235,391	1,337,550	2,572,941	1,265,171	979,839	2,245,010
Expenditure on:
Raising funds	6	582,453	-	582,453	553,869	-	553,869
Charitable activities
Research	6	1,059,749	328,557	1,388,307	373,860	626,918	1,000,778
Advocacy	6	307,657	83,759	391,415	133,796	-	133,796
Education	6	154,644	-	154,644	-	-	-
Total expenditure		2,104,503	412,316	2,516,819	1,061,525	626,918	1,688,443
Net income / (expenditure) before net
gains / (losses) on investments		(869,112)	925,234	56,122	203,646	352,921	556,567
Net (losses) / gains on investments	14	(240,282)	-	(240,282)	215,666	-	215,666
Net (expenditure) / income for the year	8	(1,109,394)	925,234	(184,160)	419,312	352,921	772,233
Transfers between funds	22a	777,358	(777,358)	-	371,834	(371,834)	-
Net (expenditure) / income before other
recognised gains and losses		(332,036)	147,876	(184,160)	791,146	(18,913)	772,233
Gains on pension revaluation	18	56,928	-	56,928	287	-	287
Net movement in funds		(275,108)	147,876	(127,232)	791,433	(18,913)	772,520
Reconciliation of funds:
Total funds brought forward		2,170,658	175,802	2,346,460	1,379,225	194,714	1,573,940
Total funds carried forward		1,895,550	323,678	2,219,228	2,170,658	175,802	2,346,460

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 27a to the financial statements.

*2021 income and expenditure figures have been restated to conform to the charitable activities presented in 2022 - Research, Advocacy and Education which align with the charity's strategy. Education is a new activity not previously presented, and 2021's figures for Grants for medical research and training, and Medical Research dissemination have been combined into the single charitable activity Research.

Wellbeing of Women

Company no. 00824076

Balance sheet

As at 31 December 2022

As at 31 December 2022 Balance sheet	As at 31 December 2022 Balance sheet		Company no. 00824076	Company no. 00824076
Note £ Fixed assets: 13a Intangible assets 13b 14 Non current assets: 15 Current assets: 15 418,131 431,488 849,619 Liabilities: 16 (1,170,006) 17 22a 1,225,000 670,550 Total unrestricted funds Total charity funds General funds Creditors: amounts falling due after one year Investments Cash at bank and in hand Tangible assets Total assets less current liabilities Debtors Creditors: amounts falling due within one year Net current (liabilities) Debtors* Restricted income funds Unrestricted income funds: Designated funds The funds of the charity: Total net assets		2022 £ 3,475 80,405 3,802,903	2021 (restated) £ £ 2,969 11,402 3,980,344 3,994,715 223,640 223,640 4,218,355 280,451 716,546 996,997 (1,703,575) (706,578) 3,511,777 (1,165,317) 2,346,460 175,801 1,400,000 770,658 2,170,658 2,346,460
		3,886,783 278,912		3,994,715 223,640
		278,912		223,640
		4,165,695 (320,387)		4,218,355 (706,578)
	849,619 (1,170,006)		996,997 (1,703,575)
	1,225,000 670,550		1,400,000 770,658
		3,845,308 (1,626,080)		3,511,777 (1,165,317)

		2,219,228		2,346,460
		323,678 1,895,550		175,801 2,170,658

		2,219,228		2,346,460

*Long-term debtors have been moved compared to the 2021 accounts to accurately reflect they are non-current assets.

Approved by the trustees on 13th July 2023 and signed on their behalf by

Professor Dame Lesley Regan Chair of the Board of Trustees

Wellbeing of Women

Statement of cash flows

For the year ended 31 December 2022

[A statement of cash flows is only required for larger charities with income of more than £500k]

£ £ (127,232) 15,187 240,282 - (85,381) (56,928) - (192,952) (15,878) (222,902) 85,381 (84,696) 752,887 (801,151) (47,579) (270,482) 1,122,415 - 851,933 At 1 January 2022 Cash flows £ £ 716,546 (285,058) 405,869 14,576 2022	£ £ (127,232) 15,187 240,282 - (85,381) (56,928) - (192,952) (15,878) (222,902) 85,381 (84,696) 752,887 (801,151) (47,579) (270,482) 1,122,415 - 851,933 At 1 January 2022 Cash flows £ £ 716,546 (285,058) 405,869 14,576 2022	£ £ 772,520 8,094 (215,666) 8,278 (64,390) (287) (264,360) (251,561) 211,522 204,150 64,390 (9,960) 1,248,365 (1,268,433) 34,362 238,512 883,903 - 1,122,415 Other non- cash changes At 31 December 2022 £ £ - 431,488 - 420,445 2021 (restated)	£ £ 772,520 8,094 (215,666) 8,278 (64,390) (287) (264,360) (251,561) 211,522 204,150 64,390 (9,960) 1,248,365 (1,268,433) 34,362 238,512 883,903 - 1,122,415 Other non- cash changes At 31 December 2022 £ £ - 431,488 - 420,445 2021 (restated)
	(222,902) (47,579)		204,150 34,362
At 1 January 2022 £ 716,546 405,869		Other non- cash changes £ - -
	(270,482) 1,122,415 -		238,512 883,903 -
	851,933		1,122,415
	Cash flows £ (285,058) 14,576		At 31 December 2022 £ 431,488 420,445
1,122,415	(270,482)	-	851,933

Wellbeing of Women

Notes to the financial statements

For the year ended 31 December 2022

1 Accounting policies

a) Statutory information

Wellbeing of Women is a registered charity; a company limited by guarantee not having any share capital and is incorporated in England and Wales.

Each member of the company is liable to contribute £1 towards the liabilities of the company in the event of liquidation.

It is registered with the Charity Commission for England and Wales and the Office of the Scottish Charity Regulator. The registered office address and principal place of business, is 10-18 Union Street, London, England, SE11 1SZ.

b) 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) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

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

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

Key judgements that the charity has made which have a significant effect on the accounts include estimating the liability from multi-year grant commitments to allocate between current and non-current liabilities, the calculation of the value of donated services and that it is not possible to identify the WoW liability portion of the defined benefits pension scheme.

c) Public benefit entity

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

d) Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. As set out in more detail in the Risk management section of the Trustees' annual report, the Trustees have concluded that the discretionary nature of a substantial element of the charity’s annual expenditure, combined with the use of investments to ensure the funding of existing commitments, will ensure the charity is able to maintain its operations into the future.

The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future, being 12 months from the signing of the accounts. Trustees have prepared cash flow forecasts and scenario plans for at least 12 months from the date of this report which show that the charity has sufficient resources to meet its liabilities as they fall due. The Trustees therefore continue to adopt going concern basis of accounting in preparing the accounts.

Wellbeing of Women

Notes to the financial statements

For the year ended 31 December 2022

1 Accounting policies (continued)

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Donations and income from local branches are accounted as notified / received by the branches. All other income is accounted for on an accruals basis and where receipt is probable.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

f) Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

g) Fund accounting

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.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes and are used for general advancement of Wellbeing of Women's objectives.

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

Some research projects are underwritten by unrestricted funds and the restricted funding is sought retrospectively. If this funding is secured in subsequent years there is a transfer between funds reimbursing the unrestricted fund.

Wellbeing of Women

Notes to the financial statements

For the year ended 31 December 2022

1 Accounting policies (continued)
h) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
Costs of raising funds relate to the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose
Expenditure on charitable activities includes the costs of providing and administering grants for medial research and training, delivering campaigns and other advocacy activities, and delivering education in the field of women's healthundertaken to further the purposes of the charity and their associated support costs
Other expenditure represents those items not falling into any other heading

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

i) Research and Training Grant Expenditure
Medical research and training grants payable out of Wellbeing of Women's own resources are charged to the statement of financial activities in the period in which the grant commitment is made. Grants are regarded as committed when the recommendations of the Research Advisory Committee (RAC) are formally approved by the Trustees of Wellbeing of Women, and the grantees informed of the decision. Once the grants are committed there are no conditions in the control of the charity to avoid the expenditure so liabilities are recognised in full for multi-year grants.

Grants are calculated as falling due in less than or greater than one year based on the pattern of expenditure advised either in the grant application or subsequent grant variations, progress information provided from Research reports and expected invoicing dates from grant-receiving institutions for multiyear grants or within one year for Entry Level Scholarship where contractually the full amount can be requested in advance.

j) Allocation of support & governance costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned based on an estimte of staff time attributable to each activity.

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.

Where such information about the aims, objectives and projects of the charity is also provided to potential donors, activity costs are apportioned between fundraising and charitable activities on the basis of area of literature occupied by each activity.

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

Governance costs are re-allocated to each of the activities based on the time spent on governance estimated to be attributable to each activity.

k) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

Wellbeing of Women

Notes to the financial statements

For the year ended 31 December 2022

1 Accounting policies (continued)

l) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Depreciation an amortisation are provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

	Furniture	5 years
	Computer Equipment	3 years
	Office Refurbishment	10 years
	Website & Systems	3 years

m) Listed & unlisted investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price for listed investments.

For unlisted investments value of the most recent share allotment or sale price has been used for valuation.

Any change in fair value will be recognised in the statement of financial activities. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments.

n) 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.

o) 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.

Wellbeing of Women

Notes to the financial statements

For the year ended 31 December 2022

1 Accounting policies (continued)

p) 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.

For multi-year grants no discounting is applied due to the nature of the research projects and it cannot be reliably estimated the time at which they fall due.

q) Financial instruments

The charity only has both basic and non-basic financial assets and financial liabilities. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. The charity does not hold non-basic financial instruments. Full details are given in the investments note.

r) Pensions

The charity has a defined contribution Pension scheme operated by The Pension Trust; contributions are charged to the Statement of financial activities when they became payable. The charity is a minority member of a legacy Royal College of Obstetricians and Gynaecologists defined benefit pension scheme, for staff who had been employed by the charity prior to 2003 - details are set out in note 19. In accordance with FRS102, Wellbeing of Women has recognised the present value of the future payments as a liability and annual adjustments to the present value of the future payments are recognised as charges in the statement of financial activities. Periodically the members reassess the estimate of the future pension deficit and change the agreed recovery plan accordingly. Changes in its estimated liability are in recognised in the SoFA in the period the agreement is signed. The RCOG defined benefit pension plan is a multi-employer scheme that is unable to identify the share of plan assets and liabilities attributable to Wellbeing of Women.

Wellbeing of Women

Notes to the financial statements

For the year ended 31 December 2022

2 Income from donations and legacies

Gifts Legacies and In Memorium Donated services Government Grant (CJRS 'furlough' scheme)	Unrestricted £ 594,267 1,265 - 140,087	£ 419,765 - - - Restricted	2022 Total £ 1,014,032 1,265 - 140,087	Unrestricted £ 797,658 726 871 66,485	£ 959,039 - - Restricted	2021 Total £ 1,756,697 726 871 66,485
	735,619	419,765	1,155,384	865,740	959,039	1,824,779

Gifts and donations are received from supporters, at events, and local activities organised by individuals, volunteer committees and local Wellbeing of Women Branches, corporations and trusts, regular donations and appeals.

Income from legacies represent those notified during the period that can be reasonably measured.

The donation of services relates to pro bono services for legal support in HR, GDPR, debt recovery and general commercial advice. The value of this donation was estimated by using the hours donated as reported by the provider and applying a rate the charity would have ordinarily have paid for the services rendered. The balance relates to a grant from Google to place advertisements on their platform, and a donation of advertising services from Hello! Magazine.

Wellbeing of Women

Notes to the financial statements

For the year ended 31 December 2022

3 Income from charitable activities

Unrestricted £ - - - 2,500 - - -	£ 20,000 204,877 426,272 25,000 9,600 50,000 - Restricted	2022 Total £ 20,000 204,877 426,272 27,500 9,600 50,000 -	Unrestricted £ - - - - - - -	£ 20,000 - - - - - 800 Restricted	2021 Total £ 20,000 - - - - - 800
2,500 20,000	735,749 72,895	738,249 92,895	- 20,000	20,800 -	20,800 20,000
20,000 - 17,000	72,895 107,464 -	92,895 107,464 17,000	20,000 - -	- - -	20,000 - -
17,000	107,464	124,464	-	-	-
39,500	916,108	955,608	20,000	20,800	40,800

The Scottish Government Healthcare Quality and Improvement Directorate and Chief Scientists Office have jointly co-funded a medical research project grant in the field of Endometriosis Research, awarded to Dr. Lucy Whitaker at the University of Edinburgh - see note 7 for further detail.

NHS England and Improvement have co-funded with WoW a clinical fellowship in Menopause to research and design interventions for clinical practitioners to improve the provision of care for women going through the menopause.

The Department for Health and Social Care, through the Health and Wellbeing Fund, have provided a grant to deliver a pilot project to deliver training to small and medium-sized businesses in order for them to better support their staff who are going through the menopause.

Wellbeing of Women

Notes to the financial statements

For the year ended 31 December 2022

For the year ended 31 December 2022	For the year ended 31 December 2022
4 Unrestricted £ Fundraising Events 305,026 Other Trading Activities 69,865 374,891 Income from other trading activities		£ - 1,677 Restricted	2022 Total £ 305,026 71,542	Unrestricted £ 276,041 39,000	£ - - Restricted	2021 Total £ 276,041 39,000
	374,891	1,677	376,568	315,041	-	315,041

5 Income from investments

Income from investments
Cazenove Investment Portfolio Dividends Interest	2022 Total £ 83,560 1,821 85,381	2021 Total £ 64,390 -
		64,390

All income from investments is unrestricted.

Wellbeing of Women

Notes to the financial statements

For the year ended 31 December 2022

6a Analysis of expenditure (current year)

Raising funds £ 215,966 225,271 21,503 - - - - - - - - -	Charitable activities*	Charitable activities*	Charitable activities*	Governance costs £ 112,803 - - - - - - - 16,206 - - -	Support costs £ - - - - - - - - - 26,683 164,461 43,604	2022 Total £ 692,459 225,271 21,503 1,108,529 (7,300) 1,781 159,019 64,603 16,206 26,683 164,461 43,604	2021 Total £ 533,034 151,098 21,643 674,088 (818) 4,927 50,780 - 21,611 59,291 141,358 31,431
	Research £ 156,232 - - 1,108,529 (7,300) 1,781 - - - - - -	Advocacy £ 149,799 - - - - - 159,019 - - - - -	Education £ 57,659 - - - - - - 64,603 - - - -
462,740 87,461 32,252	1,259,242 63,270 65,794	308,819 60,665 21,931	122,263 23,351 9,031	129,008 - (129,008)	234,747 (234,747) -	2,516,819 - -	1,688,443 - -
582,453	1,388,307	391,415	154,644	-	-	2,516,819	1,688,443
553,869	916,812	83,966	133,796	-	-

*New activity of Education has been added to reflect additional strategic pillar launched in 2022. Previously presented activities Grants for medical research and training, and Medical Research dissemination have been combined into the single charitable activity Research for 2022.

Wellbeing of Women

Notes to the financial statements

For the year ended 31 December 2022

6b Analysis of expenditure (prior year)

Charitable activities*	Charitable activities*	Charitable activities*	2021 Total £ 533,034 151,098 21,643 674,088 (818) 4,927 50,780 - 21,611 59,291 141,358 31,431
Grants~~f~~or medical research and £ 95,879 - - 674,088 (818) 4,927 - - - - - - 774,076 54,850 87,886 916,812	Medical Research dissemination £ 45,831 - - - - - - - - - - - 45,831 26,219 11,917 83,966	Advocacy £ 48,069 - - - - - 50,780 - - - - - 98,849 27,499 7,448 133,796
			1,688,443 - -
			1,688,443

*2021's figures for Grants for medical research and training, and Medical Research dissemination have been combined into the single charitable activity Research on the face of the SOFA to align with 2022's presentation.

Wellbeing of Women

Notes to the financial statements

For the year ended 31 December 2022

7a Grant making (current year)

he year ended 31 December 2022 Grant making (current year)
Cost type* Duration (months) Researcher ELS 13 Mrs Terri Brosnan ELS 12 Miss Rebecca Claire Tothill- Miller ELS 36 Dr Hui Wei Leow ELS 8 Dr Ankit Chadha ELS 12 Dr Hannah Rosen O’Sullivan RTF (NIHR DF) 45 Ms Rebecca Blaylock PRF 30 Dr Kate Duhig PRF 24 Dr Emmanuel Amabebe PRF 36 Dr Maria Paraskevaidi RG 30 Professor Nicola (Nikki) Robertson RG 30 Dr Lucy Whitaker RTF 36 Dr Marianne Watters Topic Understanding how cervical remodelling and cervical stiffness measurements in pregnancy relate to preterm birth. Prognostic and therapeutic potentials of vaginal bacterial sialidase, cytokines and metabolites for preterm birth. Laser-assisted Rapid Evaporative Ionisation Mass Spectrometry (Laser-REIMS) in the early detection, diagnosis and treatment of cervical and vulval precancer and cancer. At the end of the year Investigation of use of REIMS tissue analysis to determine ‘HRD’ status in ovarian cancer What impact has the introduction of telemedicine had on abortion accessibility and equitable provision of services in England and Wales? Utilising MRI to assess maternal cardiac and placental function in women with hypertensive disorders of pregnancy AMELIORATE Study: Azithromycin and Melatonin: Combined Therapies to Treat Encephalopathy of the Newborn. A randomised, double-blind, placebo-controlled feasibility trial to evaluate dichloroacetate in the management of endometriosis-associated pain (EPiC2). Can the analysis of menstrual fluid inform the clinical management of heavy menstrual bleeding (HMB)? Institution Newcastle upon Tyne Hospitals NHS Foundation Trust Newcastle upon Tyne Hospitals NHS Foundation Trust University of Leeds Imperial College London King's College London London School of Hygiene and Tropical Medicine University of Manchester University of Sheffield Imperial College London University College London University of Edinburgh University of Edinburgh Termination of Pregnancy for Fetal Anomaly: How are services provided and how does this relate to women’s preferences and experiences? A multi methods study. Antenatal screening for placenta accreta spectrum disorder: the performance of a regional screening service and women’s experiences. Profiling extracellular vesicle encompassed miRNAs: novel mechanisms linking diabetes in pregnancy to large for gestational age (LGA) infants.	Grants to institutions £ 19,915 19,509 20,000 20,000 19,200 84,843 29,997 29,479 30,000 299,498 249,850 286,238
	1,108,529

he year ended 31 December 2022
Grant making (current year)

Cost
type*
Duration
(months)
Researcher
ELS
13 Mrs Terri
Brosnan
ELS
12 Miss Rebecca
Claire Tothill-
Miller
ELS
36 Dr Hui Wei
Leow
ELS
8 Dr Ankit
Chadha
ELS
12 Dr Hannah
Rosen
O’Sullivan
RTF
(NIHR
DF)
45 Ms Rebecca
Blaylock
PRF
30 Dr Kate Duhig
PRF
24 Dr Emmanuel
Amabebe
PRF
36 Dr Maria
Paraskevaidi
RG
30 Professor
Nicola (Nikki)
Robertson
RG
30 Dr Lucy
Whitaker
RTF
36 Dr Marianne
Watters
Topic
Understanding how cervical remodelling and cervical
stiffness measurements in pregnancy relate to preterm
birth.
Prognostic and therapeutic potentials of vaginal bacterial
sialidase, cytokines and metabolites for preterm birth.
Laser-assisted Rapid Evaporative Ionisation Mass
Spectrometry (Laser-REIMS) in the early detection,
diagnosis and treatment of cervical and vulval precancer
and cancer.
At the end of the year
Investigation of use of REIMS tissue analysis to determine
‘HRD’ status in ovarian cancer
What impact has the introduction of telemedicine had on
abortion accessibility and equitable provision of services
in England and Wales?
Utilising MRI to assess maternal cardiac and placental
function in women with hypertensive disorders of
pregnancy
AMELIORATE Study: Azithromycin and Melatonin:
Combined Therapies to Treat Encephalopathy of the
Newborn.
A randomised, double-blind, placebo-controlled
feasibility trial to evaluate dichloroacetate in the
management of endometriosis-associated pain (EPiC2).
Can the analysis of menstrual fluid inform the clinical
management of heavy menstrual bleeding (HMB)?
Institution
Newcastle upon Tyne
Hospitals NHS Foundation
Trust
Newcastle upon Tyne
Hospitals NHS Foundation
Trust
University of Leeds
Imperial College London
King's College London
London School of Hygiene
and Tropical Medicine
University of Manchester
University of Sheffield
Imperial College London
University College London
University of Edinburgh
University of Edinburgh
Termination of Pregnancy for Fetal Anomaly: How are
services provided and how does this relate to women’s
preferences and experiences? A multi methods study.
Antenatal screening for placenta accreta spectrum
disorder: the performance of a regional screening service
and women’s experiences.
Profiling extracellular vesicle encompassed miRNAs: novel
mechanisms linking diabetes in pregnancy to large for
gestational age (LGA) infants.

Grants to
institutions
£
19,915
19,509
20,000
20,000
19,200
84,843
29,997
29,479
30,000
299,498
249,850
286,238

1,108,529

Wellbeing of Women

Notes to the financial statements

For the year ended 31 December 2022

7b Grant making (prior year)

Cost
type
Duration
(months)
Researcher
ELS
12 Miss Sara
Cumming
ELS
12 Dr Melanie
Nana
PRF
36 Dr Rosalind
Aughwane
PRF
30 Dr Nicola
Tempest
RG
51 Dr Patricia
Roxburgh
RTF
(NIHR
DF)
36 Ms Joanne
Cull
RG
37 Dr Shuby
Puthussery
Professor
Zarko Alfirevic

ELS:
RTF:
Research Training Fellowship
RTF
(NIH
R
Doctoral Fellowship in partnership with the National Institute for Health Research
PRF:
Postdoctoral Research Fellowship
RG:
Research Project Grant
Micronutrient deficiency in women with severe
hyperemesis gravidarum.
Investigating MRI markers of placental function derived
from a multiparametric computational model of placental
perfusion in a cohort of early onset Fetal Growth
Restricted pregnancies.
Personalising treatment for women with recurrent
implantation failure through characterising region-
specific endometrial abnormalities.
PArp Inhibitor Resistance Study (PAIRS).
EMpowering Pregnant women Affected by Trauma HistorY
(EMPATHY): a critical participatory action research study.
Enhancing antenatal care uptake in an ethnically diverse
socially disadvantaged maternal cohort: a retrospective
study to develop an intervention.
Other services
King’s College London
University of Bedfordshire
University College London
University of Liverpool
The Harris-Wellbeing Centre for Preterm Birth established
with a generous pledge from Lord and Lady Harris and is
dedicated to understanding the causes and developing
treatments for preterm birth.
Net (expenditure) / income for the year
Operating lease rentals payable:
Auditor's remuneration (excluding VAT):
This is stated after charging / (crediting):
Depreciation
At the end of the year
Entry-level Research Scholarship
£1m from
2014-2021
Property
Topic
Other
University of Liverpool
Exploring homeless women’s experiences of pregnancy
whilst in temporary accommodation.
University of Glasgow
University of Central
Lancashire
Institution
University of Dundee
Audit*
Amortisation

Grants to
institutions
£
17,742
19,676
29,961
29,400
447,279
63,509
53,300
13,221
674,088
2022
2021 (restated)
£
£
1,510
3,312
13,677
4,782
20,880
32,386
-
-
15,400
18,295
516
155

Includes £1,416 (2021: £1,845) under provision in respect of prior year audit.

Wellbeing of Women

Notes to the financial statements

For the year ended 31 December 2022

9 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Staff costs were as follows: Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel
Salaries and wages Social security costs Employer’s contribution to defined contribution pension schemes	2022 £ 576,685 66,526 49,248	2021 £ 448,654 45,005 39,376
	692,459	533,035

The following number of employees received employee benefits (excluding employer pension costs and employer's national insurance) during the year between:

		2022	2021
		No.	No.
£60,000	- £69,999	1	2
£70,000	- £79,999	1	-

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £246,673 (2021: £219,481).

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2021: £nil). No charity trustee received payment for professional or other services supplied to the charity (2021: £nil).

There were no costs relating to Trustees' expenses for the payment or reimbursement of travel and subsistence costs (2021: £182 incurred by one Trustee). During the year expenses in the amount of £1,812 (2021: £nil) were incurred for travel expenses on Charity business for 13 (2021: nil) members of the Research Advisory Committee.

10 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was 13 (2021: 11); this equated to 12 full time equivalent staff (2021: 10)

11 Related party transactions

There are no related party transactions to disclose for this financial year (2021: none). There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

12 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

Wellbeing of Women

Notes to the financial statements

For the year ended 31 December 2022

13a Tangible fixed assets

he year ended 31 December 2022 Tangible fixed assets
At the end of the year Net book value Additions in year At the end of the year At the start of the year Charge for the year Depreciation At the end of the year Cost At the start of the year At the start of the year	Fixtures and fittings £ 1,484 -	Computer equipment £ 2,038 2,016	Total £ 3,522 2,016
	1,484	4,054	5,538
	146 297	407 1,213	553 1,510
	442	1,620	2,063
	1,042	2,433	3,475
	1,338	1,631	2,969

All of the above assets are used for charitable purposes.

13b Intangible fixed assets

Intangible fixed assets All of the above assets are used for charitable purposes.
Amortisation At the start of the year Charge for the year At the start of the year At the end of the year Net book value At the end of the year At the end of the year Cost At the start of the year Additions in year	Website & systems £ 19,038 82,680	Total £ 19,038 82,680
	101,718	101,718
	7,636 13,677	7,636 13,677
	21,313	21,313
	80,405	80,405
	11,402	11,402

All of the above assets are used for charitable purposes.

Wellbeing of Women

Notes to the financial statements

For the year ended 31 December 2022

14 Investments

he year ended 31 December 2022 Investments
UK Equities Europe Ex UK Equities North America Equities Other Equities Bonds Multi-Asset Alternatives Shares listed on the London Stock Exchange Unlisted shares in UK registered companies Cash Additions at cost Disposal proceeds Net gain / (loss) on change in fair value Investments comprise: Fair value at the start of the year Cash held by investment broker Fair value at the end of the year	Unlisted £ 264,360	Listed £ 3,310,115 801,151 (752,887) (240,282) 2022	Total £ 3,574,475 801,151 (752,887) (240,282)	2021 £ 3,074,382 1,532,792 (1,248,365) 215,666
	264,360	3,118,098	3,382,458 420,445	3,574,475 405,869
			3,802,903	3,980,344
			2022 £ 454,736 - 349,860 655,196 941,572 168,787 547,947 - 264,360 420,445	2021 £ 581,191 107,227 271,643 758,932 984,857 179,263 427,002 - 264,360 405,869
			3,802,903	3,980,344

Wellbeing of Women

Notes to the financial statements

For the year ended 31 December 2022

For the year ended 31 December 2022
15 16 Taxation and social security Grants payable Creditors: amounts falling due within one year Accruals Trade creditors Amounts falling due after one year Accrued income Pensions payable Pension liability Other debtors Prepayments Accrued income Trade debtors Debtors Amounts falling due within one year	2022 £ 57,540 - 26,643 333,949	2021 £ 8,000 250 14,502 257,699
	418,131	280,451
	£ 278,912	£ 223,640
	278,912	223,640
	2022 £ 129,311 29,394 6,432 976,117 23,901	2021 £ 38,486 13,824 - 1,595,433 45,314
	1,165,155 4,851	1,693,057 10,518
	1,170,006	1,703,575

Wellbeing of Women

Notes to the financial statements

For the year ended 31 December 2022

17 Creditors: amounts falling due after one year

he year ended 31 December 2022 Creditors: amounts falling due after one year
Balance at the beginning of the year Amount released in the year Increase/(decrease) in provision in the year Balance at the end of the year Grants payable at the start of the year New grants awarded in the year (note 7) Write of off grant balances * Grants paid in the year Grants payable at the end of the year Movement in Provisions for liabilities and grant funding commitments Provisions for liabilities comprises movement in the RCOG Defined Benefit Pension scheme as detailed in note 19. Grant funding commitment movement in the year Grants payable Pension liability	2022 £ 1,625,088	2021 £ 1,102,546
	1,625,088 992	1,102,546 62,771
	1,626,080	1,165,317
	2022 £ 73,290 (10,519) (56,928)	2021 £ 96,970 (23,392) (287)
	5,844	73,290
	2022 £ 2,697,980 1,108,529 (7,300) (1,198,004)	2021 £ 2,470,635 674,088 (818) (445,925)
	2,601,205	2,697,980

18 Movement in Provisions for liabilities and grant funding commitments

Once a researcher has completed the work agreed, delivered their final report in relation to the Grant and we have written confirmation from them that all costs have been invoiced, any unused portion of the grant award is released to enable the funds to be used on other projects.

Wellbeing of Women

Notes to the financial statements

For the year ended 31 December 2022

19 Pension scheme Defined Contribution scheme

Wellbeing of Women staff are entitled to become members of the multi-employer pension scheme operated by The Pension Trust. The scheme is based on defined contributions and Wellbeing of Women’s liability is restricted to the annual contributions. The pension cost of this scheme for the year are disclosed in Note 9.

Defined Benefits scheme scheme

Until 2003 Wellbeing of Women staff were entitled to join the defined benefits section of the RCOG's pension scheme. This is now closed to new entrants and there are no longer any active members amongst Wellbeing of Women's staff. The RCOG defined benefit pension plan is a multi-employer scheme that is unable to identify the share of plan assets and liabilities attributable to Wellbeing of Women. According to FRS 102, Wellbeing accounts for the plan as a defined contribution plan and has recognised its share of the pension funding deficit as a liability.

The most recent actuarial valuation of the whole RCOG’s scheme was at 30 November 2022. The fair value of the assets was £20.575m (£23.107m; 2019), with the actuarial valuation of the liabilities (based on technical provisions measures1) being £20.681m (£25.816m; 2019), resulting in a deficit of £0.106m (£2.709m; 2019) for the whole scheme. Wellbeing of Women's share of this deficit has been currently determined at 4.25% (4.25% 2021).

A Recovery Plan was formally agreed with members in May 2020. Given the current valuation, if Deficit Reduction Contributions continue at the current rate, than the deficit as at 30 November 2022 would be paid off by 31 March 2023, whereupon they could cease.

The scheme's members have agreed to pursue a buy-out of the scheme, with the decision made by the majority member (RCOG) in December 2022. An estimate has been provided for the administration costs of the buy-out to be shared proportionally between members (full cost being £60,000 with WoW's share at 4.25% to be £2,550).

The present value of this liability at a discount rate of 4% (2020: 1.8%), has been calculated as £5,844 for 2021 (2021: £73,290) which is recognised as a liability. As this is a reduction in the shortfall the deficit adjustment has been made to the SOFA and Statement of Income and Expenditure of £56,928 (2020: £287) as shown in note 18.

£287) as shown in note 18.
Pension Liability - amount falling due within one year Pension Liability - amount falling due in more than one year Pension administration charges	2022 £ 4,851 992	2021 £ 10,519 62,771
	5,844	73,290
	7,494	6,311

Wellbeing of Women

Notes to the financial statements

For the year ended 31 December 2022

20 Financial instruments

20 Financial instruments
21a Intangible fixed assets 21b Long term debtors Net current assets/(liabilities) Defined pension scheme liability Financial assets measured at fair value through profit and loss Financial liabilities measured at fair value through profit or loss Analysis of net assets between funds (current year) Investments Net current liabilities Long term liabilities Investments Long term debtors Tangible fixed assets Tangible fixed assets Investments Long term liabilities Net assets at 31 December 2021 Net assets at 31 December 2022 Analysis of net assets between funds (prior year)	General unrestricted £ 3,475 80,405 1,015,713 - 441,552 (870,595)	Designated £ - - 1,225,000 - - -	2022 £ 3,382,458	2021 £ 3,574,475
			5,844	73,290
			Restricted £ - - 1,562,189 278,912 (761,938) (755,485)	Total funds £ 3,475 80,405 3,802,903 278,912 (320,387) (1,626,080)
	670,551	1,225,000	323,677	2,219,228
	General unrestricted £ 14,371 740,382 - 535,022 (519,117)	Designated £ - 1,400,000 - - -	Restricted £ - 1,839,962 223,641 (1,241,601) (646,200)	Total funds £ 14,371 3,980,344 223,641 (706,579) (1,165,317)
	770,658	1,400,000	175,802	2,346,460

Wellbeing of Women

Notes to the financial statements

For the year ended 31 December 2022

22a Movements in funds (current year)

he year ended 31 December 2022 Movements in funds (current year)
Total restricted funds Total designated funds Total unrestricted funds General funds Restricted funds: NHSE/WoW Clinical Fellowship Menopause Total unrestricted funds Total funds Midwife Research Lisa Waterman Memorial Fund Royal College of Physicians Sir Victor & Lady Blank Research Fund Harris Wellbeing of Women Pre-Term Birth Centre Donations restricted to specific projects or themes Scottish Government Partnership British Gynaecological Cancer Society British Maternal and Fetal Medicine Society DHSC grant for Menopause workplace training Shane Warne Memorial Fund Long term commitments Research Campaigns and other charitable activities Purposes of restricted funds Unrestricted funds: Designated funds:	At 1 January 2022 £ 61,809 29,624 16,412 639 67,318 - - - - - -	Income & gains £ 20,000 - - 59,493 - 25,000 9,600 204,877 107,464 50,000 861,116	Expenditure & losses £ (19,712) - - (59,476) - (25,000) (9,600) (204,877) (9,892) - (83,759)	Transfers £ - - - - - - - - - - (777,358)	At 31 December 2022 £ 62,097 29,624 16,412 656 67,318 - - - 97,572 50,000 -
	175,801	1,337,550	(412,316)	(777,358)	323,678
	500,000 650,000 250,000	- - -	(344,471) (445,393) (223,623)	344,471 445,393 48,623	500,000 650,000 75,000
	1,400,000	-	(1,013,487)	838,487	1,225,000
	-	361,966	-	(361,966)	-
	1,400,000	361,966	(1,013,487)	476,521	1,225,000
	770,658	930,354	(1,331,299)	300,837	670,550
	2,170,658	1,292,319	(2,344,785)	777,358	1,895,550
	2,346,459	2,629,869	(2,757,101)	-	2,219,228

Midwive research - Funds received to support calls for midwifery research. Grants awarded are fully recognised as expenditure in the accounts of the year in which they were awarded.

Lisa Waterman Memorial Fund - Funds received to be used towards research into amniotic fluid embolism.

Royal College of Physicians - Funds to partner on a call for an Entry Level Scholarship and a Postdoctoral Research Fellowship.

Sir Victor & Lady Blank Research Fund - Funding Postdoctoral Research Fellowships with expenditure fully recognised in the year in which they were awarded.

Harris Wellbeing of Women Pre-Term Birth Centre - Funds received from Lord and Lady Harris to establish the Harris-Wellbeing Centre for Preterm Birth Research at the Liverpool Women's Hospital.

Artios Pharma Partnership - Funds to support a Research Project Grant for the PArp Inhibitor Resistance Study (PAIRS) awarded in 2021 and recognised in full in expenditure in 2021.

British Gynaecological Cancer Society - funds received to co-fund two research grants: one LES and one PRF, both of which were awarded in 2022 and the expenditure fully recognised in the accounts.

British Maternal and Fetal Medicine Society - funds received to co-fund an ELS awarded in 2022 with the expenditure fully recognised in the accounts.

Scottish Government Partnership - funds received to co-fund a research project grant in Endometriosis awarded in 2022 with the expenditure fully recognised in the accounts.

NHSE/WoW Clinical Fellowship Menopause - funds received to co-fund a clinical fellowship to research the diagnosis and provision of care for menopause and peri-menopause and recommend improvements for clinicians and other prescribers.

DHSC grant for Menopause workplace training - a grant received from the DHSC Women's Health Fund to design and deliver workplace training for menopause support in the Bedfordshire area.

Donations restricted to specific projects or themes - Funds received in relation to specific individual projects awarded grants. The grants have previously been underwritten by unrestricted funding and recorded as expenditure in the year in which the grant was awarded. Once restricted funding is received the funds to service the ongoing liabilities are transferred from unrestricted to restricted funds in accordance with the funder's requirements.

Purposes of designated funds

Long term commitments - Funds earmarked to provide cover for at least four months of current grant liabilities in the event of a loss in value of portfolio investments or fundraising issues

Research - Funds to award new research grants

Campaigns and other charitable activities - Funds to implement the strategy and facilitate the new activities for education and advocacy

Shane Warne Memorial Fund - unrestricted donations received from WoW's annual cricket event that have been transferred to designated funds.57

Wellbeing of Women

Notes to the financial statements

For the year ended 31 December 2022

For the year ended 31 December 2022
22b Restricted funds: Total restricted funds Total designated funds General funds Total funds Total unrestricted funds Midwife Research Lisa Waterman Memorial Fund Research Campaigns and other charitable activities Royal College of Physicians Sir Victor & Lady Blank Research Fund Harris Wellbeing of Women Pre-Term Birth Centre Artios Pharma Partnership Long term commitments Movements in funds (prior year) Donations restricted to specific projects or themes Unrestricted funds: Designated funds: Investment Revaluation*	At 1 January 2021 £ 7,051 29,624 27,500 50,000 80,540 - -	Income & gains £ 75,000 - - 10,000 - 447,279 447,560	Expenditure & losses £ (20,242) - (11,088) (59,361) (13,222) (447,279) (75,726)	Transfers £ - - - - - - (371,834)	At 31 December 2021 £ 61,809 29,624 16,412 639 67,318 - -
	194,714	979,839	(626,918)	(371,834)	175,801
	382,811 - - -	- - - -	- - - -	(382,811) 500,000 650,000 250,000	- 500,000 650,000 250,000
	382,811	-	-	1,017,189	1,400,000
	996,414	1,481,124	(1,061,525)	(645,355)	770,658
	1,379,225 1,573,940	1,481,124 2,460,963	(1,061,525) (1,688,443)	371,834 -	2,170,658 2,346,460

In prior years this fund was calculated as the net increase in fair value of the investments held since their purchase at historical cost. The fund in which these gains was held was reconsidered in 2021 in recognition that the Charity is no longer required to disclose this value in a separate reserve and the funds reallocated to the Long term commitments fund (see above) which satisfies a similar purpose in terms of funds being available for grant liabilities.

Wellbeing of Women

Notes to the financial statements

For the year ended 31 December 2022

23 Operating lease commitments payable as a lessee

2022 2021 £ £ 5,880 5,220 - - - - 5,880 5,220 Less than one year One to five years Over five years Property The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the	2022 2021 £ £ 5,880 5,220 - - - - 5,880 5,220 Less than one year One to five years Over five years Property The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the	2022 2021 £ £ 5,880 5,220 - - - - 5,880 5,220 Less than one year One to five years Over five years Property The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the	2022 2021 £ £ 3,207 3,207 2,518 5,725 - - Equipment following periods	2022 2021 £ £ 3,207 3,207 2,518 5,725 - - Equipment following periods
	5,880	5,220	5,725	8,932

24 Post balance sheet events

There are no post-balance sheet events which require adjustment to the financial statements.

25 Legal status of the charity

The charity is a company limited by guarantee and has no share capital.

@wellbeingofwmen Wellbeing of Women wellbeingofwomen

@WellbeingofWmen

10-18 Union Street, London, SE1 1SZ

hello@wellbeingofwomen.org.uk · 020 3697 7000 · wellbeingofwomen.org.uk

The women’s health charity

Contents

Introduction

About us

Research

Think Menopause

New projects awarded in 2022

Pregnancy

Menstruation

Dr Lucy Whitaker - Endometriosis

Gynaecological cancers

What has our research achieved?

Pregnancy

Premature menopause

Dr Roseanne Rosario – Premature menopause

Gynaecological cancers

Research highlight: Addressing health inequalities in maternal and neonatal care

small-for-gestation-age babies.

Case study: Jenny Prigg

Advocacy

Let’s #ChatMenopause

Millions have been reached through the campaign and over 1,000 women engaged in conversations on social media

Menopause Workplace Pledge

Employer spotlight: House of Commons

Menopause Xplored

Education

Fundraisin g

“I remember pain from the very first day I had my period.”

Appeals

Challenges

Affiliations

Our year in numbers

Social media

Financial summary

Income

Expenditure

Financial review

Income

Expenditure

Pension liability

Reserves

Risk management

Investment Policy

Grant Making Policy and Process

Structure, governance and management

Constitution

Public Benefit

Board of Trustees

Sub-Committees of the Board

The Audit Committee

Related parties and relationships with other organisations

Remunerations Policy

Wellbeing Trading Ltd

Scotland

Reference and administrative details

Chair

Trustees

Chairman research advisory committee

Chief executive

Director of Finance & Resources and Company Secretary

Honorary Presidents

Honorary Vice-presidents

Investment Advisors

Registered and principal office

Fundraising statement

Statement of Trustees’ responsibilities

Disclosure of information to auditor

Opinion

Basis for opinion

Conclusions relating to going concern

Other Information

Opinions on other matters prescribed by the Companies Act 2006

Matters on which we are required to report by exception

Wellbeing of Women

Responsibilities of trustees

Auditor’s responsibilities for the audit of the financial statements

Capability of the audit in detecting irregularities

Use of our report

Wellbeing of Women

[A statement of cash flows is only required for larger charities with income of more than £500k]