nct Support for every parent NCT 2025 Annual report and accounts Contents About us Chair's welcome President's welcome Chief Executive's welcome Introduction NCT's For Every Parent strategy Our impact Confident Connected Safe Strong foundations, strong futures Our thanks Join us Financial review Structure and governance Independent auditor's report to the trustees and members of NCT NCT consolidated group statement of financial activities including income & expenditure account for the year ended 31 March 2025 NCT charity statement of financial activities including income & expenditure account for the year ended 31 March 2025 NCT balance sheets as at 31 March 2025 NCT consolidated cash flow statement for the year ended 31 March 2025 Notes to the financial statements 2 3 10 12 14 17 18 19 19 33 38 52 61 62 70 76 80 81 82 83 84 About us ict About us Every year we support thousands of parents across the UK on their journeys through pregnancy, birth, infant feeding, and early parenthood. We connect, inform and support parents through our antenatal and postnatal information, courses and services, bringing people together to share information and experiences of life as an expectant or new parent. Our peer support programmes reach parents facing mental health challenges, social isolation, or other unmet needs - offering care where it's needed most. We host thousands of community-based events across the UK, from NCT Bumps & Babies groups to NCT Baby Cafés offering infant feeding support. Many of these activities are run by our volunteers, who give more than 77,000 hours of outstanding community service each year. We support parents to make decisions that are right for them through access to evidence-based information on our website and our NCT Infant Feeding Support Line, open 365 days a year. Our charity has a proud history of creating transformative change in the lives of parents. We are a trusted voice and a strong advocate for parents, campaigning on the issues that matter most. Today, we are a membership charity and a strong community of volunteers, practitioners, Peer Supporters, staff, students, advocates, and campaigners. We have a huge opportunity to positively influence the experience of millions of people as they become parents and work towards our vision that every parent feels confident, connected, and safe. 4 Working towards our vision that every parent feels confident, connected, and safe We supported nearly 180,000 parents in-person last year, and millions more online. Confident 6.7 million people accessed our pregnancy and parenting information online We offer free, evidence-based information for parents. 94% rated their NCT Antenatal course 'good' or 'excellent' Parents continue to build confidence with our courses. NCT awarded the Patient Information Forum TICK Certification Trusted by the NHS, the PIF TICK is UK's only independent quality mark for print and digital health information. 5 Confident ict 66 There's so much negativity around LGBTQIA+ parenting - we need more stories like ours. We were happy. We were supported. We had a baby, and NCT helped us feel confident doing it. Gem, new parent. 6 Connected 95% of parents keep in touch with other parents after finishing an NCT course NCT brings people together and builds networks of support. 81,000 parents joined our community parent support groups Like NCT Bumps & Babies and more. Over 77,000 hours of volunteer community service Thousands of NCT volunteers give back in their local communities. 1,150 NCT Walk & Talks Connecting parents, walking together. 66 NCT parent support group in Bridgnorth The change was instant. NCT's walks gave me structure, community, and a sense of self during those early, uncertain weeks. Rhiannon, Worcester. 7 Safe 2,500 families received essential NCT Baby Bundles 28,000 nappies, 900 toys, and 600 clothing bundles distributed by volunteers. Birthing communication cards, translated into 25 languages Supporting women to convey urgent symptoms during labour. Over 300 refugee and asylum-seeking women supported Thanks to our Newham Nurture Perinatal Partnership and Leeds Bankside project. 66 NCT helped me a lot in this situation to communicate with emergency services. Ava, solo mother experiencing homelessness. Over 7,200 calls to our free NCT Infant Feeding Line The postnatal period is a vulnerable time for women, parents, and babies. Evidence based, non-judgemental, and unbiased support really matters. 66 It's not just a helpline. It's a lifeline. 29 Parent calling NCT's Infant Feeding Line. Nearly 300 NCT x Mini First Aid classes Providing parents with the essential skills to help cope when their baby has an injury or emergency. 8 Chair's welcome When I stepped into the role of Chair of NCT following our AGM in November 2024, I knew I was joining an organisation with a long and proud legacy of supporting new and expectant parents. What I didn't yet know was just how much inspiration, resilience, and deep human connection I would encounter It has been eye opening and inspiring to meet parents, volunteers, practitioners, and staff across the UK. Whether sitting on the floor during a music session in Newham, learning about mental health support in Halton, or listening to pregnant women's experiences of the asylum system in Leeds, I've been consistently struck by the compassion and trust that define NCT's work. These visits brought to life the powerful role NCT plays in communities. In Newham, I saw how we co-produced services with local women from low income, migrant and marginalised backgrounds - and how these are shaped directly by them and respond to what they need. In Halton, the NCT Parents in Mind team showed me how positive action amplifies and grows, with former beneficiaries volunteering to help others. In Leeds, I met Rose, an NCT practitioner who has a 20-year legacy of supporting pregnant women in the asylum system, reminding me what it means to truly be there for parents. This first hand experience has deepened my understanding of NCT's unique role and made clear the scale of the challenge we face. I've spoken with midwives, partners, and other charities in the maternity sector. I've seen how maternity and perinatal services in the UK are under enormous strain. Women and new parents now face a postcode lottery and huge disparities that are both unfair and unacceptable. We don't simply want to grow our charity's reach, we need to, so that every parent, wherever they are, whoever they are, has access to the trusted support they deserve. Joëlle and the team from NCT Parents in Mind Halton 10 I've spent much of this year listening. I've spoken with parents, NCT practitioners and volunteers, staff, and funders. I've seen a shared determination: to ensure NCT remains here for every parent - now and in the future. 29 I've also seen the compassion and expertise at the heart of our work, from in-person NCT Baby Cafes where I saw our Breastfeeding Counsellors in action, to our award-winning NCT Antenatal classes. Sitting in an antenatal class in Nantwich reminded me how fun, inclusive, and empowering our sessions are today. (And yes, I'm still practising my 4-8 breathing and using all of my B-R-A-I-N when making decisions!) One story that especially stayed with me came from an LGBTQIA+ couple I met at a NCT Baby Café. They hadn't done an NCT Antenatal course, unsure if they'd feel welcome. But after several visits for feeding support, they told me how warmly they'd been welcomed by NCT practitioners and volunteers. That experience changed their view: they now see NCT as a place where they belong. It was a moving reminder of the inclusive, person-centred approach that runs through everything we do. Looking ahead, my role as Chair is to steward our charity with care, courage and clarity of purpose. NCT is trusted by generations, and we must evolve to remain relevant, representative, and responsive to the realities of parenting today. We are growing our partnerships and influence - engaging with policymakers, philanthropists, and corporate partners to ensure NCT is recognised as the charity it is, rooted in a deep commitment to do social good. We are also strengthening our governance and welcoming new voices to our board, to help shape the next chapter. This year has shown me that while the challenges are many, the commitment across NCT is even greater. We are united by a powerful belief: that every parent should be confident, connected and safe. Thank you for being part of this journey. Joëlle Warren NCT Chair 11 President's welcome It is with pride and deep appreciation that I reflect on six years as NCT President - years that have tested, transformed, and strengthened our charity in ways we could have never imagined. Most remarkable is that amidst momentous change in the world and our sector, the vibrancy of our NCT community, the commitment of our people to supporting parents, and NCT's strong values have never wavered - this remains the beating heart of our charity today and will do so long into the future. This was true more than ever during the COVID-19 pandemic, which brought profound uncertainty for expectant and new parents and marked a period of significant transformation for NCT. Our teams rapidly adapted - moving services online, offering virtual infant feeding support, and ensuring our helpline and website remained a trusted lifeline. Through extraordinary circumstances, our values - being welcoming, collaborative, inclusive, bold, and trusted - guided everything we did. As NCT rose to meet new challenges and began safely unlocking in-person services, we also began deepening our commitment to equity, diversity, and inclusion - listening and responding to what parents need and doing more to support women, parents, and families who are marginalised or excluded. In 2023, NCT launched the For Every Parent strategy and we renewed our vision and mission to ensure that every decision we make and every service we offer is working towards a world where parents feel confident, connected, and safe - no matter who they are, what their background is, or what pregnancy, birth or parenting decisions they make. 22 Since then, we have expanded our peer support programmes to reach more women and families who are marginalised, created new community partnerships, and amplified the voices of parents facing inequality, discrimination, or isolation. As a result, I can proudly say that today more parents have access to the support and community they need during pregnancy, birth, and early parenthood. I see the impact of this work making a world of difference to parents' lives across the UK - whether it's a Breastfeeding Counsellor on NCT's Infant Feeding Support Line, a volunteer running a NCT Bumps & Babies group, a practitioner facilitating an NCT Antenatal course, or a campaigner challenging maternity inequalities, each person in the NCT community shares our values and the belief that parents deserve safety, dignity, and compassion. 12 As a Breastfeeding Counsellor and NCT practitioner myself, NCT's mission is close to my heart. Opening my own local NCT Baby Café in Bromley, where we offer a free weekly drop-in service providing personalised and non-judgemental infant feeding support, has allowed me to hear first hand about the joys and challenges of feeding babies in a myriad of different ways and to witness the incredible difference it can make to have a community of people around you to support your feeding journey. As an NCT volunteer, I run a local NCT Walk & Talk group and as we've strolled through the park together, so many parents have told me not just how this movement and connection has been the highlight of their week, but how it's inspired them to join NCT's incredible volunteering movement too. As I've actively fundraised to keep these services going in my local area, I've gained first hand experience of the challenges the charity sector faces in securing long- term funding to sustain vital services in communities. It is more important than ever that we continue to campaign for sustained and long-term investment into a maternity system that works for all. As always, this year it has been an extraordinary pleasure and honour to work with everyone across NCT. The commitment and expertise of our staff, practitioners, and volunteers is outstanding - I really love being part of this amazing team - and the generosity of NCT's commissioners, donors, and partners is a beacon of hope for all of us. Thank you to everyone who shares NCT's vision and has collaborated with us over the last year. Just like in previous years, our charity is transforming. As parents' needs have changed, digitalisation has accelerated, and the UK's social and economic environment throws up new challenges, NCT is evolving too. Over the last year, with the guidance of the Board of Trustees, significant decisions have been made to steward NCT towards a sustainable future where we can deliver the greatest impact for parents. Change is always tough, but our community is resilient and so many of our people have made valuable contributions to building this new future. Thank you to our staff, practitioners and volunteers for the ongoing support and energy you bring to improving the experience of becoming a parent. The past six years has certainly thrown challenges and opportunities at our charity, at parents, and at our society, and I'm so proud that they've always made NCT braver, more open, and more united in achieving our vision of a world where every new parent feels confident, connected, and safe. Sherry Bevan NCT President 13 Chief Executive's welcome In 2024, the state of maternity care in the UK was thrust into the spotlight. The Secretary of State for Health and Social Care admitted that the crisis in services "keeps him awake at night", a stark but honest reflection of a system that too often fails pregnant women, new parents and babies. By June 2025, a national investigation into NHS maternity and neonatal services had been announced. This has only come about because of parents. Their courage in speaking out - about birth trauma, the death of their babies in preventable circumstances, or the deep inequities faced by Black and Asian women and those living in poverty - has been the catalyst for change. But these stories, and the findings of multiple public inquiries and reports, point to a hard truth: the UK's maternity system does not keep every parent or baby safe. At NCT, we believe that everyone should be able to shape their own unique journey through pregnancy, birth and early parenthood - feeling confident, connected, and above all, safe. Over the last year, we've taken the campaign for safer, fairer maternity care to governments and NHS bodies across all four nations. From contributing to the Change NHS consultation in England to supporting the Neonatal Network in Northern Ireland, shaping new quality standards in Wales, and delivering frontline services in Scotland, we've worked to centre parents' voices wherever change is happening. As the nation's charity for pregnancy, birth and parents, we are here for and advocate alongside parents, through the joy and the stress, the beginnings and the unknowns. We educate and empower, with trusted information, practical support, and local networks that help build community and confidence. y In 2024, we were proud to be awarded the Patient Information Forum (PIF) Tick, certifying our information resources as evidence-based, inclusive, easy to understand, and designed for real life. Of course, our support must also evolve as parents' realities do. That's why we've adapted, investing in more flexible, accessible services, delivered online, in local communities, and through peer support. 14 Parenting Courses Hacknea Wo Angela visits our 'Empowering Parents' programme celebration in Hackney We've also had to make tough financial decisions to safeguard our future, including pausing our education model and restructuring parts of our team. These changes weren't easy, but they've been made with a single goal: to ensure NCT is here for every parent, now and for generations to come. The strength of our work lies in collaboration. This year, we've worked side by side with local partners, commissioners, and fellow charities, co-producing services for new and expectant parents, supporting mental health in underserved communities, and ensuring that language or digital barriers never stop a parent from being heard. Every action, every partnership, every voice has helped improve someone's experience of becoming a parent. I am proud of the dedication of our staff, practitioners, volunteers, and students, and grateful for the trust placed in us by parents, supporters, and partners. Together, we're making important progress. This year has tested pregnant people and new parents in countless ways. But parents continue to lead the call for change. They remind us why our purpose matters: to create a society where everyone who becomes a parent feels confident, connected and safe Together, we are NCT, the nation's advocate for parents. And I am so proud of and grateful for this incredible charity, and everything we do together. Angela McConville Chief Executive 15 NCT staff members Anna Murray and Katy Thompson at Hartlepool Pride event For Every nct Parent Pride 16 Introduction At NCT, we envisage a future where safe personalised maternity care is the norm, not the exception. For us, this means delivering trusted and unbiased information, support, and services to parents - before, during, and after birth - and it means raising our voice to campaign for a more empathetic, equitable, and accessible maternity system for all. This report shares highlights of our impact over the last year, and some incredible stories of the positive action created by our NCT community and the many parents, families, and local communities that we have worked with. We share our achievements and progress in three main sections - confident, connected, and safe - highlighting how we are driving towards our vision that every parent is confident and informed in their decision making, connected to a supportive community, and safe in pregnancy, birth and early parenthood. These aren't just ideals, they are the conditions every parent deserves. Confidence, connection, safety: Why it matters for every parent • Nearly half (48%) of NHS maternity units in England were rated as 'inadequate' or 'requires improvement, with 65% failing key safety criteria.! • Only 54% of women reported receiving adequate help postnatally.? • Only 58% of people surveyed said they were 'always' given the information and explanations needed in hospital after birth.3 • 61% of parents in the UK reported anxiety about their mental health in the past year.4 • 82% of parents report they have experienced feelings of isolation.5 'Care Quality Commission's (CQC) national maternity inspection programme 'Care Quality Commission's (CQC) 2024 maternity survey. 3 Maternity survey 2024 - Care Quality Commission 4 New Survey: Nearly 90% of GB parents are worried for their children's future life chances - UNICEF UK calls for urgent reset from new Government - UNICEF UK 5 New Survey Reveals Extent of Loneliness Among UK Parents 17 NCT's For Every Parent strategy Our vision is that everyone who becomes a parent feels confident, connected, and safe because we believe parents help build the foundations of the future. That's why NCT is the charity with a clear and singular mission - we support people as they become parents. We're here for you through pregnancy, birth, and early parenthood. More parents, more impact We want to support and empower all people as they become parents by building even bigger communities of expectant and new parents, tackling health inequalities and making our services and content more inclusive and accessible. Real lives, real change We are reigniting our focus on campaigning and community action. We will listen to your experiences, amplify all parents' voices and collaborate for change to improve the experiences of pregnancy, birth, and early parenting. We want everyone who becomes a parent to feel confident, connected, and safe. No exceptions. Great people, great results Our people hold the key to our impact. We're building a diverse and inclusive community of staff, practitioners, students, Peer Supporters and volunteers - who are all empowered in their work to support everyone who becomes a parent to feel confident, connected, and safe. Strong foundations, strong future To support people as they become parents now and into the future, our charity must be progressive, sustainable, and here for the long-term. We're committed to making it easier for parents to access our services and for our team to deliver them. Our values: welcoming, collaborative, inclusive, bold, and trusted. Our impact: Confident Confidence empowers parents to trust their instincts, make decisions that are right for them, and advocate for their needs. Confidence is also a huge part of feeling positive about your parenting experience and being able to navigate uncertainty. When parents feel confident, they are more likely to seek support, ask questions, and engage with services. Confidence doesn't mean having all the answers; it means feeling equipped, respected, and supported on the journey. At NCT, we support new and expectant parents to build confidence during pregnancy, birth, infant feeding and early parenthood by ensuring our information and services are comprehensive, accurate, and impartial. We know that every parent and every birth is unique, and we're committed to ensuring parents can access the support they need - no matter who they are, what their background is, or what parenting decisions they make. We equip parents with the knowledge, tools, and reassurance they need throughout their unique parenting journey. We provide evidence-based antenatal and postnatal courses, breastfeeding support, and peer support programs; as well as free resources on our website and our NCT Infant Feeding Line. In this section you will find: • NCT Antenatal • Infant Feeding Support • Trusted information for parents. NCT practitioners - expert facilitators, educators, welcoming to all. NCT practitioners are expert, university-trained educators who deliver inclusive, evidence-based support for parents. Welcoming and locally informed, they create safe spaces to share, ask questions and build confidence - so every parent feels prepared, supported, and connected from pregnancy into parenthood. Our NCT practitioners give many hours of their time to working with new and expectant parents, as well as sharing their knowledge and expertise with others at NCT and in the wider maternity community. Thank you for everything you do. 19 Confident NCT Antenatal Our NCT Antenatal courses cover a range of topics, including different types of birth, pain management, infant feeding, and life with a newborn, to help parents feel confident and prepared with realistic and flexible plans. Our courses continually evolve in response to feedback from parents and reflect the latest guidance and research. NCT practitioners are skilled perinatal educators, trained at university level on pregnancy, birth and early parenthood, and highly skilled in group facilitation for adult learners. Building on our work in 2023/24, we continue to roll out trauma-informed CPD (continuous professional development) for our practitioners, so they have the necessary skills to support all parents and their unique experiences. This year we also added new digital content on hypnobirthing, pregnancy yoga and baby first aid, exclusively available to parents who attend our courses, ensuring they have more tools to support their parenting journey. We're proud that 94% of parents rated our NCT Antenatal course 'good' or 'excellent' this year, and that 95% of parents keep in touch with the other parents they met during the course after they have all had their babies. This highlights the valuable support networks our courses help to form in the early weeks and months of parenthood. Loved by parents NCT Antenatal classes have been recognised as the Best Antenatal Class at the 15" Annual Loved by Parents Awards, which celebrate excellence in products and services that support families - as voted for by parents. We were also proud to secure Gold for Best Parenting Brand of the Year and Silver for Best Family Brand. These awards reflect our unwavering commitment to providing expectant parents with comprehensive, evidence-based education and support. LBP LOVEDBYPARENTS OLBP LOVEDBYPARENTS LBP LOVEDBYPARENTS WINNER Best Antenatal Class WINNER Best Parenting Brand Of the Year platinum 2025 lovedbyporents.com gold 2025 lovedbyporents.com WINNER Best Fomily Brand Silver 2025 lovedbyporents.com 20 Confident Yasmin & Gemma's story: Feeling seen, supported, and prepared Location: South England Service: NCT Antenatal Impact duration: Antenatal classes over 8 weeks - friendships ongoing! Yasmin and Gemma's parenting journey began with a successful IUl procedure and the exciting news that Yas was pregnant. As a same-sex couple navigating early parenthood, they sought out support and information - though Yas was initially unsure about joining an antenatal class. "I thought, 'I'm not an antenatal class person,"' Yas admits. "I can be quite socially awkward, and I worried people wouldn't understand our lifestyle as a lesbian couple." Despite early nerves, the couple found their NCT Antenatal course offered not just vital information, but a sense of belonging and calm. Gem recalls, "NCT really helped us understand our choices. It wasn't scary - it was empowering. We weren't just told what would happen, we learned why, and how to make informed decisions." Yas and Gem's first cuddle with their baby 21 Confident Skin to skin and establishing breastfeeding When complications arose in the final weeks of pregnancy with a diagnosis of foetal growth restriction, the couple felt equipped to handle difficult conversations with medical staff. Yas says, "When the consultant told us the baby needed to come out, 1 was terrified, but | also felt empowered. Thanks to the course, I knew my rights, I knew I could say no. In the end, we decided on a planned caesarean, which felt right for me and my body." The very next day, Yas developed signs of preeclampsia. It was Gem who recognised the symptoms, thanks to what she'd learned in class. "You don't think it'll happen to you, but then Yas got a headache, her hands and face swelled up, and I knew. We called the hospital immediately, and that likely made all the difference." Despite the unexpected turn of events, their birth experience was calm and positive. "We had music playing, the midwives were amazing, and they protected the birth experience even though it was so different from what we'd planned," Yas shares. "It was peaceful - they just pulled him out!" Gem cut the cord, and Yas began skin-to-skin contact and breastfeeding in theatre. "They treated it like any other birth. We felt respected, involved, and safe," Gem said. As a non-birthing mother, Gem also highlighted the importance of inclusive education. "So much of the literature is for straight couples. Even registering our son's birth was legally complex. But NCT helped us feel like every other parent." Yas also shared how her ADHD affected her pregnancy: "I was overstimulated, hormonal, anxious - and I'd never heard anyone talk about ADHD and pregnancy. But Jessica, our NCT teacher, took it seriously. Just knowing she understood made a difference." Over a year later, Yas, Gem, and their son still see their NCT group regularly. "They say it takes a village, and it does," Yas says. "I never thought I'd say this, but I love our group. We message every day. I felt seen and understood." Gem reflects: "There's so much negativity around LOBTQIA+ parenting - we need more stories like ours. We were happy. We were supported. We had a baby, and NCT helped us feel confident doing it." 22 Confident 23 Confident NCT infant feeding support At NCT, we offer inclusive, evidence-based feeding support to parents whatever their feeding journey looks like. From breastfeeding and expressing to formula feeding, mixed feeding, and introducing solids, we're here for it all. Our support is available 365 days a year on the phone, online, and in communities. Services include NCT's Infant Feeding Line, peer support on postnatal and neonatal wards, NCT Baby Cafes facilitated by NCT practitioners and volunteers, and our online Parent Hub offering trusted information and guidance. The impact of our work has been recognised by local authorities and health boards across the UK, and thanks to new funding we've been able to expand our free-to-access services. With trained volunteers, Peer Supporters, and qualified NCT Breastfeeding Counsellors, we deliver tailored support and help parents feel confident, informed, and supported. In 2024/25: • Over 7,700 parents attended NCT Baby Cafés, and community breastfeeding and infant feeding drop-ins. • Almost 20,000 parents were supported through our breastfeeding peer support programmes by over 700 Peer Supporters. • 2,500 parents attended NHS infant feeding sessions run by NCT. • Close to 50,000 expectant parents attended infant feeding sessions through their NCT Antenatal courses. • Over 7,200 parents contacted our free NCT Infant Feeding Line. 24 Confident NCT's Infant Feeding Line: Every call matters We're here to support every feeding journey. No judgement. No exceptions. In 2024, over 7,200 parents contacted our free NCT Infant Feeding Line for responsive, compassionate support on breastfeeding, bottle-feeding, combination feeding, and more. No matter the question, no matter the age of the child - from newborn to toddler - our skilled Breastfeeding Counsellors were there with evidence-based, non-judgemental support and guidance. NCT's Infant Feeding Line ensures that no one has to face feeding challenges alone. "I would have been completely lost without this service." Thank you to the dedicated team working on the line and to every supporter who helps make this service free, accessible, and open to all. 2024 Impact: • 94% felt less isolated after their call • 87% felt more confident about feeding their baby • 88% reported their mental well-being improved. 25 Confident A lifeline through every stage, for every journey Day 5 Early days of breastfeeding "I came away from the call feeling less overwhelmed and more empowered in making decisions on how to feed my baby! Thank you!" In those first early, vulnerable days, feeding can be overwhelming. We can help identify issues and signpost parents to where to access further support. 2 Weeks Weeks Feeding patterns "I suffer with postnatal anxiety and my daughter had dropped her feeds. Receiving this information when I needed it rather than having to wait really helped ease my anxiety." Our support isn't just about feeding - it's about mental wellbeing too. 6 Months Combination feeding "We called after a long night in hospital with a lethargic baby. We just needed to talk to someone. The person we spoke to was emnathetic and kind." e when it's urgent for both nd emotional support. Formula feeding "Emilie was so helpful and answered all of my queries and also sent further information to me afterwards." We offer non-judgemental support for all feeding decisions. 4 Months Starting solid food "All I can say is how fantastic this service is and how amazing the advisor was. I felt so worried, and I feel so much better now." Transitions can be tough. We help parents feel prepared, not panicked. 2 Years Breastfeeding toddlers "They gave me lots of ideas to try. Most usefully, she asked 'What is your gut feeling?' That helped so much. I'm now setting boundaries and stopping painful feeds." Feeding support doesn't stop with babyhood. Our Infant Feeding Line is open every day from 8am to midnight. 0300 330 0700 26 Confident From supported to supporter: Francoise's feeding story Location: Hackney, London Service: Community infant feeding support Impact duration: 12 months Our peer support volunteers are there for parents at the most vulnerable moments of their feeding journeys. Francoise, a mum of two from Hackney, shares what inspired her to volunteer, and the incredible difference peer support can make. Francoise with her son After receiving excellent care during her own feeding experience, Francoise felt a strong pull to give back: "Something shifted and that caring part of my brain kicked in. I wanted to do something meaningful while on maternity leave." She joined NCT's peer support training while juggling life with a newborn: "There were babies feeding on the call, children in the background, it was so inclusive and full of likeminded people. " The training, which took place weekly over two months, opened her eyes to the diverse needs of families: "There's no one-size-fits-all. Every journey is different - it's not an out-of-the-box experience." ding Breasti Peer Supporter Francoise supporting families in Basingstoke 27 Confident Now, Francoise supports families at weekly drop-ins in Hackney: "I'm not there to fix things but to listen, to signpost, to reassure. Sometimes it's just about saying, 'You're doing fine, your baby is fine.' You can see the switch; they leave with a spring in their step." She reflects on the power of peer support: "When I had my first baby during Covid, I paid for lactation support because nothing else was available. It's amazing that drop-ins are free now. I try to put myself back in that headspace - vulnerable, unsure. You just need someone to talk to." Francoise sees the full arc of feeding journeys, from newborn challenges to weaning information months later. "A mum with a five-day-old comes back at six months to ask about solids, or even to help another new parent. You see the journey unfold." Volunteering has given her purpose, connection, and pride: "It's rewarding, sometimes challenging. But to be there in those early days, and offer care with no judgement, it's special. We're just there for families." We're so grateful for Francoise and all our Peer Supporters across Hackney and beyond. Their time, empathy, and knowledge are helping parents feel less alone and more confident. NCT Hackney is commissioned by Hackney Council to provide community infant feeding peer support. 66 Francoise shared: There is support out there. Don't be afraid to ask. Use the free help that's available, it can make all the difference. 29 28 Confident Breastfeeding Buddies - a lifeline for many Location: Greater Glasgow & Lothian Service: Breastfeeding Buddies, delivered by NCT Impact duration: 10+ years For over a decade, the Breastfeeding Buddies programme, which NCT delivered in partnership with local NHS boards, supported thousands of families across Greater Glasgow and Lothian. This peer support service offered compassionate, one-to-one guidance for new parents navigating breastfeeding, often during their most vulnerable moments. Funded initially by the Scottish Government and later by NHS health boards, the service operated in five hospitals and seven community settings, backed by a team of nine part-time staff and 82 trained volunteers. For thousands of new parents, Breastfeeding Buddies was an essential part of growing their confidence and being able to work through the challenges and changes they experienced feeding their baby. Sadia, former Breastfeeding Buddy in Edinburgh is now training to be a midwife Sophie, who struggled to breastfeed after her daughter Nora's early birth and NICU stay, said: "Staffing on the ward was tight and it wasn't until I got home that I realised how much help 1 needed. Having that peer support group, with shared experiences and expert help, was absolutely crucial." One of those dedicated supporters was Sadia, a former Breastfeeding Buddy in Edinburgh. After volunteering following her own challenging postnatal experience, she is now training to be a midwife and remains a passionate advocate for the power of peer-led support: "As a student midwife, a mum, and a volunteer, it's devastating to see this support go. Midwives simply don't have the time - and this service was so needed in both hospitals and communities." Although the programme has now closed due to changes to government funding for early years support for families in Scotland, NCT remains committed to championing services that centre on the needs of families. The voices of Sophie, Sadia, and many others show that peer support works. Investment in personalised, compassionate care must continue if we are to build a truly equitable start for all parents and babies. 29 Confident 30 Confident Trusted information for parents Today, parents are bombarded with advice and opinions, often unverified and inconsistent. At NCT, we understand how vital it is that new and expectant parents can access trusted, evidence-based information. Last year over 6.7 million people came to us for free, inclusive information on pregnancy, birth, infant feeding and early parenthood via our website, helping them to feel informed and confident in their decisions. Our parent content is certified by the UK's only independent quality mark for trusted health information We're proud to have become the 150th organisation awarded the PIF TICK - the UK's only independent quality mark for print and digital health information. Run by the Patient Information Forum (PIF), it confirms that our content meets 10 rigorous criteria, Trusted Information Creator including that it is evidence-based, up-to-date, and easy to read. Patient Information Forum The impact is clear: these are some of the most viewed pages on our website and positive feedback has increased, with parents telling us: "Very helpful as it covers everything I need to know and the things I'm worried about." The PIF TICK is not just for the public — it's also used by GPs and NHS professionals to identify and recommend reliable health information. As the demand for accessible, trustworthy information grows, NCT remains committed to providing parents with the clarity and confidence they deserve. 31 Confident 32 Our impact: Connected Every parent needs to know they are not alone. Whether through friendships, peer support, family networks, or trusted professionals, feeling connected helps parents share experiences, ease isolation, and build resilience. At NCT, we build long and lasting connections between parents, many of whom remain friends for years after they first met at an NCT Antenatal course, NCT Baby Café, or NCT Walk & Talk. We build connection in communities, where our volunteers host NCT Nearly New Sales, or convene NCT Bumps & Babies groups that give parents a regular, reliable, safe place to meet and play. And we build connections with the NHS maternity and neonatal and other health and social services in the UK through the services we offer. This is important work - strong, supportive relationships create a safety net that helps parents feel seen, understood, and better able to care for themselves and their babies. It also builds resilience in local communities and contributes to a more positive, compassionate future for everyone. In this section you will find: • Volunteering with NCT • NCT Walk & Talk • NCT Nearly New Sales. Community based support, powered by volunteers It is through the dedication and passion of our NCT practitioners and volunteers that we continue to make a meaningful difference and host safe, non-judgmental spaces for parents to share experiences, gain insights, and build connections in their local communities. Last year more than 3,000 volunteers gave over 77,000 hours of their time to support local parents. Their efforts enabled over 80,000 people to attend over 6,000 community events, and thousands more parents were supported through our perinatal peer support programmes, such as NCT Parents in Mind. Volunteers offer peer support, coordinate local community groups, lead walking groups, run our NCT Nearly New Sales, crochet baby blankets, co-ordinate baby first aid classes, pack toiletries bags for new parents and run marathons as part of #TeamNCT. Every one of these actions - however big or small - makes a huge difference to a parent, who needs and deserves the support, empathy, and connection that our volunteers offer. Thank you all so much for your time, skills, enthusiasm, and care. 33 Connected NCT Walk & Talk Location: Worcester & Malvern Service: NCT Walk & Talk Rhiannon Williams, 33, is an NCT Walk & Talk volunteer in Worcester & Malvern, and she started volunteering after attending NCT Antenatal classes. Rhiannon is outdoorsy and was "excited to hear there were groups I could join while on maternity leave that involved getting out." Rhiannon says: "/ started volunteering with the walks to keep them running so that other parents could benefit in the same way I had and to ensure that they would still be available to myself throughout my maternity leave." Volunteering at NCT Walk & Talks meant that the walks she herself benefited from during her maternity leave could continue helping others. Rhiannon says the NCT Walk & Talks, "kept me going early on when I was an uncomfortable first-time mum, who was nervous about joining traditional baby groups." "Joining the walks felt comfortable and allowed me to get out the house, enjoy the outdoors, and build my fitness back up while being able to meet other parents." "The walks were vital to giving me some sense of self and direction in the first few months of parenthood, so l was keen to volunteer at both my local groups to ensure they would keep going. Most weeks I would be at both walks as a volunteer or a walker! I loved all of it." Rhiannon - out walking with her baby nct Walk&Talk Discover the benefits of our NCT Walk & Talk groups, see upcoming walks in your area, and learn how to become a volunteer by visiting our website: www.nct.org.uk/local- activities-meet-ups/nct-walk-and-talk Map of NCT Walk & Talk locations in 24/25 34 The scenic Malvern Hills I'm now two weeks back in to work and missing it, but glad to be having a few bank holidays coming up where I can pop along to at least one of the walks. Connected How did you feel before you started participating in Walk and Talk groups, and what kind of change did you notice once you started going to NCT Walk & Talk groups? I was quite nervous before attending the group, I hadn't been to any other groups and it had been a long time since I'd really gone to any new activity on my own. I was trying to find something to give me structure while I was off work and felt pretty confident I would enjoy the walk and talks because I'm very outdoorsy. I think I went along to the Malvern Walk & Talk for the first time when my son was 5 weeks old and the change was instant. Instead of dreading Monday mornings because my husband was going to work, and I'd have to struggle through it on my own, suddenly I had something to get up and do to start the week. Every Monday like clockwork I was getting up and getting out and about in all weathers with a very welcoming group of women. It was wonderful to not only get out but share experiences and realise that we were all in the same boat - there was a lot of moral support in the group. By the time my son was a few months old I was a pretty permanent fixture at both the Malvern and Worcester walks as well as the Worcester Baby Cafe. These groups helped me feel a lot less isolated and not only did I become part of a community, but I was also lucky enough to be able to give back to that community. Why do you think these walks are especially important for new and expectant parents? The walks are important because they give the opportunity for everyone to come together, they are not targeted at just mums so I've seen dads, grandparents and siblings on the walks as well (especially on bank holidays). I've not seen any other groups that encourage the same level of engagement from the entire family, and on several occasions we've had just dads walking! It's also great to be doing something that isn't just sat indoors, for both your mental and physical health - it feels a lot easier sometimes to open up about what's going on and allows you to talk to lots of different people instead of just sitting with the same people. 35 Connected NCT Nearly New Sales Our Head of Volunteering, Daniella Abraham, explains how NCT's Nearly New Sales are a sustainable and affordable option for parents. Since the first volunteers ran NCT Nearly New Sales over two decades ago, NCT has been a pioneer in sustainable and affordable baby essentials. NCT Nearly New Sales provide a reliable opportunity to buy and sell pre-loved, quality baby clothes, toys and other essentials. By offering parents a way to save money and reduce their environmental impact, these sales have become a vital resource for families across the UK. In the past year alone, over 20,000 families attended sales, purchasing more than 345,000 items. For many parents struggling to make ends meet, NCT Nearly New Sales are a lifeline. The events provide a platform for both buyers and sellers, allowing families to save money while also earning extra income by selling their pre-loved items. NCT Nearly New Sales also serve a powerful reminder of the impact our choices have on the world around us. By choosing to shop second hand, we are committing to a sustainable way of living that benefits our wallets and the planet our babies will inherit. Angela McConville, NCT Chief Executive with volunteers at an NCT Nearly New Sale 36 Our impact: Safe Safety is the foundation of creating positive maternity experiences for all parents. In the UK the majority of births are safe, but that's not the experience for everyone. At NCT, we believe becoming a parent should be a safe and supported experience for everyone. As the UK's largest charity for parents, we are in a unique position to deliver trusted and unbiased information, support, and services to parents. We also campaign for change, and together with parents and our partners in other organisations, we've been actively calling for a more empathetic, equitable, and accessible maternity system for all. We are expanding our free-to-access services - with the goal of ensuring every parent is supported, regardless of their circumstances. We've grown and developed our services for new parents needing support with their mental health, as we know this is a frequent challenge often experienced. We continue working to make everything we do accessible, inclusive and culturally safe. In this section you will find: • Connecting parents in crisis • NCT Parents in Mind • NCT Baby Bundles • Collaborating and campaigning for change. 37 Safe Connecting parents in crisis In 2024, we continued our work to support women from marginalised and migrant backgrounds, with a strong focus on communication and connection. In Newham and Leeds, many of the women we support experience language barriers, digital poverty, and social isolation, all of which limit their access to safe and responsive maternity care. Two key pieces of work, captured below, provided practical, compassionate responses to these challenges. Tackling digital poverty with the National Databank Location: Newham and Leeds Service: Newham Nurture Perinatal Partnership and NCT Leeds Bankside Impact duration: 12 months Digital poverty can be a life-threatening barrier to healthcare, housing, and emergency assistance. In 2024, NCT was delighted to be chosen by the Good Things Foundation to help support pregnant women and new families experiencing digital poverty by providing free data and devices. In Newham and Leeds, we support pregnant women and new mothers who are refugees, asylum seekers, or have no recourse to public funds. Many of them live without access to phones, the internet, or critical support networks. Thanks to the National Databank (one of the Good Things Foundation's innovations - delivered with strategic partners Virgin Media O2, Vodafone and Three), we were able to distribute SIM cards to our most at-risk parents. We also provided one-to-one support so that women and their families could access vital maternity and community services. For women like Narva, an asylum-seeking mother caring for her premature baby in hospital, the impact was immediate: "I was so isolated. I couldn't speak to my family or check on my asylum case. Now, it keeps me in touch with people like yourself. I feel less alone." For women like Narva, digital connectivity is a lifeline. We are proud to be part of this initiative, and we're committed to continuing our learning on how best to support digitally excluded parents in times of crisis. 38 Safe 39 Safe Supporting parents in all languages: Improving communication in maternity care Over 300 languages are spoken in London, and 58% of women who give birth are born outside the UK®. As the demographic of parents continues to become more diverse, inclusive and accessible maternity care is vital to reducing inequalities. This year, NCT helped develop the Resource Pack for Commissioners and Maternity Service Providers Using Interpreting Services - a tool offering practical guidance to improve the quality, consistency, and cultural sensitivity of interpreting services being offered in maternity care. The resource was shaped by evidence, parent input, and recommendations from MBRRACE-UK, which continues to highlight the risks that language barriers pose to maternal safety, NCT was pleased to support the project by facilitating access to the voices of parents with lived experience. Alongside this, our Newham team co-created communication cards for use in maternity triage, enabling women who don't speak English as a first language to quickly convey urgent symptoms - such as pain, bleeding, or reduced foetal movements - while waiting for an interpreter. These cards, now translated into 25 languages and distributed in our antenatal classes in Newham, help ensure faster clinical responses and safer outcomes. Through these initiatives, NCT is working to remove systemic barriers in maternity care - ensuring that every woman, regardless of her background or language, can be heard, understood, and cared for with dignity. The initiatives ran at Newham Nurture, a community partnership with NCT, Alternatives Trust and The Magpie Project, and generously funded by Newham Council, City Bridge Trust and Royal Docks Trust. Funded by Partners Newham Londo CITY BRIDGE FOUNDATION Royal Docks Trust nct alternat ves ONS, 2023 40 Safe NCT Parents in Mind Mental health support for fathers and partners Location: St Helens Service: NCT Parents in Mind Impact duration: 4 years "If it wasn't for NCT, I wouldn't have the family I have now." At 27, Aaron had lived in St Helens his whole life, just 20 minutes from his mum and nan. He'd never had much of a relationship with his dad - "I never wanted his money, just his time," he says. After moving out of the family home to be closer to his partner's side of the family, Aaron found support in his partner's mum, his neighbour, and most of all, his partner herself. But asking for help? That didn't come naturally. When his second child was born, Aaron began to struggle, especially with bonding, sleepless nights, and the stress of it all. It was through his social worker that he was introduced to NCT Parents in Mind, a group in St Helens, specifically for dads. "There was a moment where it felt like, if something didn't change, we were done," he recalls speaking about his relationship. "But the lads in that group - they were there every step of the way." Before joining the group, Aaron says he avoided parenting spaces altogether. "I didn't even want to be around my own kids. I was stuck in a bubble, pub, snooker, darts. I even avoided taking them to the park." Now, if someone suggests going to the park, he's the first to put his shoes on and head out the door with his kids. Through the support of other dads, NCT's trained volunteers and staff, Aaron found something different: no pressure, no judgement, just a space to talk, or not talk, surrounded by people "I'd tried group therapy before, but this was different. I was nervous when I got the first phone call but the person on the other end just knew how to put me at ease." The transformation wasn't overnight, Aaron built coping strategies like meditation, exercise, and emotional check-ins and began putting them into practice. He saw the change in himself, and so did his partner. "Four years on, I can honestly say: if it wasn't for NCT, I wouldn't have the family I have now." Now, Aaron gives back and volunteers for NCT as a Peer Supporter. If someone messages, he's there. "You never know what someone's going through. That one message could be the thing that stops them from self-harming." Aaron's goal? "To break the stigma around men's mental health. The training we've had helps us do it safely and well." To date, the St Helens group has supported over 30 dads and non-birthing parents. Aaron says the impact is clear: "This isn't one-to-one support, it's a community. Like a family." 41 Safe Designing services for parents, with parents In 2024, NCT's focus on co-production continued - this time in Halton where we helped develop local understanding of what good access to perinatal mental health support looks like. Working in partnership with Halton Family Hubs, Parent-Infant Foundation, and Ideas Alliance the team engaged 147 parents through over 16 hours of interviews and focus groups and online surveys. Parents shared honest experiences of isolation, anxiety, and feeling unseen by services, especially fathers and non-birthing parents. In response, NCT's Parents in Mind: Dads and Partners launched in late 2024 as part of their father inclusive strategy. Trained volunteers with lived experience provide safe, non-judgemental support on topics like anger, sleep deprivation, and emotional overwhelm. Early success led to an extension of funding to March 2026. The project demonstrates the power of co-production and lived experience to create inclusive, parent-centred services that make a real difference. 42 Safe 43 Safe NCT Baby Bundles Supporting local families with little bundles of new baby essentials: 2,500 families supported by NCT Baby Bundles UK-wide Volunteers at NCT's Little Bundles Baby Bank NCT's Little Bundles Baby Bank is one of our longest-running and largest baby banks, supporting over 650 local families each year across Littlehampton, Chichester and Bognor Regis. Launched in 2019 and powered by around 20 dedicated volunteers, Little Bundles provides baby essentials - from clothes and nappies to highchairs and toiletries — to families who are struggling. The team receives around 25 referrals each week, a figure that has risen by 20-25% due to the ongoing cost-of-living crisis. In 2024 alone, volunteers distributed over 28,000 nappies, 900 toys, and 600 clothing bundles. The team also works with local hospitals to provide emergency supplies, premature baby items, and baby loss packs to A&E departments. Alice, who founded the NCT Baby Bank, was recently recognised with a Coronation Champion Award for her service. She shared, "We do this because it matters. We recently supported around 50 refugee families who had been relocated. Knowing we're helping families who otherwise wouldn't have access to essentials keeps us going." 44 Safe Across the country NCT Baby Banks supported over 2,500 families last year. This work reflects the heart of NCT's mission: supporting parents and babies from the very beginning, thanks to the compassion and commitment of our volunteers. Many thanks to all our supporters, including local and national businesses, who generously donated to help this work. Find out more about supporting programmes like NCT Baby Banks at our website: www.nct.org.uk/support-us/ donate Little Bundles Baby Bank volunteer preparing baby essentials NCT Baby Bundles partners with Baby Bank Alliance Baby Bank Alliance. NCT was proud to partner with the Baby Bank Alliance in July 2024 and can now provide more families with urgent baby essentials. The Baby Bank Alliance ensures that all baby banks can access funding, goods, volunteers and practical support. As a charity partner, NCT's Baby Bundles project works with the Baby Bank Alliance to ensure every baby has the basics they need including clothes, nappies, moses baskets and mattresses. Daniella Abraham, Head of Volunteering at NCT, said: "We know more and more parents are relying on baby banks for baby essentials, particularly with the rising cost-of-living. This new partnership and funding will help us reach and support more parents who are struggling with necessities when it comes to caring for a new baby." 45 Safe Collaborating and campaigning for change In 2024, the UK maternity system remained in crisis and under intense scrutiny. As the UK's largest charity for pregnancy and parents, we are in a unique position to hear, understand, and share the experiences and challenges women and parents are facing, and use these insights to advocate alongside parents to call for safer, more compassionate and inclusive maternity care. A core focus of our work is addressing inequalities and campaigning to ensure every parent has access to safe, personalised, and culturally competent care. We advocate for a UK maternity policy that is shaped by real-world experiences alongside robust evidence. 46 Safe Influencing the NHS 10-Year Plan: NCT's impact As NHS England undergoes major reform - bringing many of its functions under the Department of Health and Social Care - we have been focussed on ensuring that the voices of parents are heard. In response to the government's 10-Year Health Plan for the NHS, NCT contributed through: • Policy influence: We submitted evidence to the national consultation and engaged directly with decision- makers, including the Department of Health and Social Care, MPs, and the All-Party Parliamentary Group (APPG) on Maternity. • Parliamentary engagement: At our Westminster drop-in event with the One Voice Maternity Alliance, we brought together key voices in maternity care, including MPs from the Health and Social Care Committee, Chairs and members of key sector APPGs, NHS stakeholders, and charity partners. We highlighted that urgent reforms are needed in postnatal and maternity care. We also met separately with Baroness Merron, Parliamentary Under-Secretary of State for Patient Safety, Women's Health, and Mental Health, to discuss the NHS 10-Year Plan and its role in supporting the health and wellbeing of parents. • Community insight: We led targeted community engagement to ensure maternity care reforms reflect the real-world experiences of parents. We ran three Seldom Heard Voices engagement workshops in Newham for the Department for Health and Social Care, attended by 28 participants, including: • New and expectant parents who are asylum seekers or refugees • People experiencing homelessness • Ethnic minority parents • Parents facing digital exclusion. • Championing Change: As members of the NHS England Stakeholder Council for Maternity and Neonatal Services and of the NHS Change Partners Council, we've emphasised the need for maternity reform that champions compassionate care, protects and invests in frontline workers, embeds equity and safety, and co-produces solutions with parents. Together with our partners we continue to push for the NHS to deliver safe, equitable and compassionate care for every parent and baby. 47 Safe Highlighting the impact of NHS charging Location: Leeds Service: NCT Leeds Bankside Impact duration: 20 years Kim, pictured in her asylum accommodation In our local community services, we continue to witness the devastating impact of NHS maternity charging on vulnerable pregnant women who are seeking asylum. Kim's journey Kim* sought asylum in the UK in 2017 after fleeing political persecution in Zimbabwe. Her initial claim was refused, and she spent years living in limbo, without the right to work or access mainstream support. In 2021, during the COVID-19 pandemic, she became pregnant and submitted a fresh asylum application - a right that comes with exemption from NHS charging for maternity care. Photograph by Gary Calton Despite having an active asylum claim at the time of her daughter's birth in March 2022, Kim received a bill from Leeds Teaching Hospitals NHS Trust for over £10,000. "I really felt depressed," Kim said. "Where am I going to get this money? I was still a new mum, breastfeeding as well... you're trying to heal from a caesarean and then there's a bill, and there's a small child as well." Living in asylum accommodation in poor conditions, including mould and cockroach infestations, she faced immense stress at a time when new mothers should be supported and protected. Barriers beyond the hospital walls Kim joined an NCT group in West Yorkshire that supports parents who are refugees or seeking asylum. The group, NCT Leeds Bankside, is a safe place to share experiences, access information and support, and connect with other parents who may have experienced similar struggles. NCT's support, through antenatal sessions and our practitioner Rose, helped Kim feel less alone and helped her draft a response to the NHS Trust to challenge the charges. "The project is a lifeline for many asylum seeking and refugee women who often come to us with no family or support network," said NCT practitioner Rose McCarthy. The group was launched with funding from Sure Start after surveying local parents about attending antenatal classes, but since 2011 has been funded by and delivered in collaboration with Leeds City Council. A call for change Kim's experience is not an isolated case. The threat of NHS charging, combined with insecure housing and language barriers, creates a hostile environment for pregnant women with uncertain immigration status. NCT Head of Programmes, Helen Lloyd, states: "Systemic change is urgently needed to ensure that no parent, regardless of their immigration status, is left to choose between safe medical care and a mountain of unpayable debt." *Kim's name has been changed to protect her privacy. 48 Safe IN AT CUAS an happy DAISY LAD 49 Safe Representing parents in policy - looking back over the year Over the past year, NCT has advocated for parents and babies through campaigning, engaging with policymakers, and representing parents' voices at national forums. Highlights include: April 2024 Submitted evidence to the APPG on Birth Trauma inquiry. May 2024 Co-presented at the Royal College of Midwives Conference Liverpool. September 2024 October 2024 December 2024 January 2025 February 2025 March 2025 UK COVID-19 Inquiry: NCT gives evidence on the impact of the pandemic on women, parents, and babies as part of a charity coalition. Submitted evidence to the Department for Health and Social Care consultation on eligibility for Healthy Start for groups who have no recourse to public funds or are subject to immigration controls. Attended the Birmingham Race and Healthcare Summit. Attended the National Institute for Health and Care Research (NIHR) Maternity Disparities Consortium kick-off events. Submitted evidence to the NHS 10-Year Plan consultation. Ran Seldom Heard Voices Engagement workshop with 32 marginalised and migrant women. Contributed to the lay research group ahead of the publication o MBRRACE-UK's report into the care of migrant women with language barriers who have experienced a stillbirth or neonatal death. Met with Baroness Merron, Parliamentary Under-Secretary of State for Patient Safety, Women's Health, and Mental Health to discuss the NHS 10-Year Plan. Responded to the Competition and Markets Authority (CMA) report, calling on the government to ensure the formula milk market is regulated in the best interests of babies and parents - not corporate profits. o-sponsored The Motherhood Group's annual Black Materna tealth Conference Nominated for 'Charity of the Year' for our work in Leeds and Newham working with pregnant women and new parents who are migrants and/or asylum seekers. Co-hosted a Parliamentary Drop in with the One Voice Alliance on maternity and the NHS 10-Year Plan. Supported the campaign led by The Miscarriage Association, which saw the inclusion of bereavement leave for miscarriage in the Employment Rights Bill. Attended the Northern Ireland Inaugural Maternity & Neonatal Conference in Belfast as a guest of the Chief Midwifery Officer. 50 Safe Sector collaboration and representation NCT is actively shaping national policy and research as part of key groups, including: • NHS England's Maternity and Neonatal Stakeholder Council • One Voice Alliance • Pregnancy and Baby Charity Network • Postnatal Care Working Group • MBRRACE Lay Research Group • RELAX Group (King's College London) • iHolds Study (University of Birmingham) • REACH Project on pregnancy circles (City University of London). Jo Corfield, NCT Head of Communications and Campaigns, Elizabeth Duff, NCT Senior Policy Advisor and Angela McConville, NCT Chief Executive alongside members of the Pregnancy and Baby Core Participants in the UK Government COVID-19 Inquiry Inaugural Regional Maternity and natal Conference 2025 ty: Shaping the Future for Maternity and Neonatal Care™ nct Angela McConville, NCT Chief Executive and Caroline Keown, Chief Midwifery Officer at the Northern Ireland Inaugural Maternity & Neonatal Conference in Belfast Angela McConville, NCT Chief Executive and Michelle Welsh MP, Chair of the Maternity APPC 51 Our impact: Strong foundations, strong futures We believe that strong futures start with strong foundations and that means building a charity rooted in inclusion and community, where every parent can feel seen, supported, and truly welcome. We know that being inclusive isn't a box to tick - it's how we come up with better ideas, build more accessible services, and create support that works for everyone. We've made it a priority to challenge bias, break down stigma, and welcome in voices that haven't always been heard, to cocreate solutions. This year, we've continued to lay the groundwork to be a more sustainable, progressive charity that reflects the diversity of the new and expectant parents we serve. We've strengthened our financial foundations, launching new partnerships designed to bring direct benefits to parents, expanding our NCT membership, and growing our community of fundraisers. These are more than just income streams, they're part of how we give back, grow communities, and increase our impact where it matters most. This year, in response to a challenging financial environment, we had to make some difficult decisions, including restructuring teams and saying goodbye to valued colleagues. We've also continued to strengthen the foundations that keep NCT safe, secure, and running smoothly. We've made ongoing improvements to safeguarding and data protection while also upgrading key IT systems to better support our staff, practitioners, volunteers and the parents we serve. In this section you'll find: • Equity, diversity, and inclusion • Partnerships to benefit parents • NCT membership. 52 Strong foundations, strong futures Equity, diversity, and inclusion Over the last year, we've continued vital work to ensure NCT is a charity where every parent feels welcome, represented, and supported. We're committed to being equitable, inclusive and accessible — so that all parents, and everyone involved in NCT, feel they belong here. We know that real change starts from the inside out. That's why we're working hard to build inclusion into everything we do, from the way we design new projects, how our teams work, and how decisions are made. NCT's Allyship Programme Creating a truly inclusive space for all parents means learning, listening, and standing up for one another. That's where our Allyship Programme comes in. It's a welcoming space for everyone in our NCT community - whether they're a staff member, practitioner, student or volunteer to ask questions, share experiences, and learn how to take positive, meaningful action to help build a more inclusive culture across NCT and beyond. In 2024, our Allyship Support Spaces focused on real, practical conversations around issues like anti-racism, making services more accessible, understanding our own privileges, and how we use personal data respectfully and ethically. We took this work further during Black History Month, running weekly sessions focused on the experiences of Black families during pregnancy, birth and early parenthood. These helped build greater awareness, understanding, and allyship within our community. Building inclusive communities within NCT We are proud to be developing and growing our NCT Diversity Network — a space for NCT's community to explore issues, identify opportunities, co-produce work and policies, and champion equity, diversity and inclusion. In 2024, the Diversity Network contributed to a variety of activities, including the NCT Language Guide update, PRIDE and Black History Month events, and reviewing our approach to demographic data collection. O, Every Parent Pride/ 2024 also saw the creation of a Neurodivergent Staff Network (NDSN), offering a supportive space for neurodivergent staff. The NDSN has increased the confidence of some members, leading them to develop guidance for our community around simple communications adjustments that are supportive of those with neurodivergence. 53 Strong foundations, strong futures 54 Strong foundations, strong futures Partnerships to benefit parents This year, we are grateful to all our generous donors, members and funding partners who helped NCT extend its reach and impact, delivering emotional support, practical help, and trusted guidance to thousands of new and expectant parents across the UK. We're grateful to work with so many organisations that share our vision. We strongly believe that it is through collaboration that we can achieve the greatest impact for parents and we see this every time we work with others who are committed to ensuring every parent feels confident, connected, and safe. This year we want to draw attention to three partnerships in particular that have helped us extend our reach and impact. Supporting wellbeing with Calm Thanks to generous support from the UK's leading mindfulness app, Calm, NCT delivered vital support to new parents facing the emotional and physical demands of early parenthood: • 1,000 wholesome meals from COOK were distributed via NCT's Baby Bundles, helping parents access nutritious food. • Free access to Calm content, including postpartum-focused soundscapes and guided meditations, gave new parents tools to nurture their mental wellbeing. In particular, NCT's Parents in Mind programme was grateful to receive the Calm content as an additional tool to support parents' mental health. • On Giving Tuesday, December 2'ª, Calm made a generous donation to help support NCT's Infant Feeding Line over the month of December, during which over 400 calls were answered. One parent shared: "As a 34-year-old mum, I thought I was prepared for life after having a baby - but nothing prepared me for postnatal depression or the level of it. The exhaustion, the overwhelm, the constant self-doubt - it felt like I was drowning and not good enough. I still do but that's where Calm helped. It reminded me to breathe, to be kind to myself, and to find moments of peace in the chaos." And another said: "As a dad, I always put my family first, but Calm reminded me that taking care of my own mental health makes me a better father. Even five minutes of meditation changes my whole day." This partnership brought critical emotional and practical care to new families at a time they needed it most, as Blake Beers, VP of Brand Marketing at Calm explains: alm This partnership with NCT emphasises the importance of prioritising mothers' health so we're better equipped to care for our children. Calm's donation supports both mother and baby, giving mothers a little something for themselves. We're proud to contribute to the conversation around postpartum mental health and grateful to support those who turn to NCT for care and guidance. 55 Strong foundations, strong futures Helping growing families with Hasbro Congratulations to Peppa Pig's family! In 2025, Mummy and Daddy Pig announced they were expecting baby number 3! As Peppa Pig and her family embark on big changes, NCT is thrilled to have been chosen to be their Pregnancy and Parenting Charity Partner. As millions of parents across the UK watch this iconic family journey through pregnancy, birth and early life with a baby, we'll be on hand to offer real-life support. The collaboration was inspired by a shared commitment to providing families with evidence-based parenting information and support. So far, news of the partnership has generated 238 pieces of news coverage and 607 million impressions, as well as reaching 680,525 people on NCT's own social media platforms. Thanks to Peppa Pig and this partnership we're reaching parents in a fun and accessible way - and helping millions more parents to know we're here for them. We look forward to sharing more news of activities in 2025. Hasbro Peppo Pig 56 Strong foundations, strong futures NCT and Lidl GB renew partnership for a fourth consecutive year NCT is delighted to have renewed its partnership with UK supermarket Lidl GB for a fourth consecutive year. The partnership gives Lidl GB employees access to discounts on gold standard NCT Antenatal courses, enabling their staff to feel better supported, connected, and confident throughout their pregnancy and early life with a baby. A spokesperson from Lidl GB said: "We know that thousands of our colleagues have young children or are planning to start a family. We also employ grandparents and other carers. Working with the UK's leading charity for pregnancy, birth and early parenthood means we can provide a fantastic benefit that will be invaluable to our teams and their families." Angela McConville, Chief Executive at NCT said: "There are many new and expectant parents, grandparents and carers in Lidl GB's workforce and I'm delighted that through our enduring partnership we're able to continue to offer Lidl GB colleagues access to our NCT membership as well as discounts on our brilliant NCT Antenatal classes. We look forward to continuing this partnership to support many more people as they become parents." LADL LIDL 57 Strong foundations, strong futures Joining our community and giving back to others Individual fundraising and giving, alongside NCT membership, play a vital role in growing our community of supporters, helping us reach more parents across the UK. It's been wonderful to see so many people choosing to give back, whether that's through local NCT branches, taking on challenge events, or joining as a member. Every contribution, big or small, helps us build a stronger, more supportive network for all kinds of families. Thank you to everyone who supported us this year, we're so grateful for all that you do. Sarah, Carol, and Emily: Running together for NCT at London Landmarks We had an incredible day cheering on our amazing runners - Emily, Carol, and Sarah - at the London Landmarks challenge event! We're so grateful for their commitment to fundraising for NCT and raising awareness about the vital support we offer to parents. Emily shared why this challenge meant so much to her: "I took on this challenge to raise awareness of NCT's fantastic work, especially the NCT Parents in Mind service. The impact of this support is huge, and I wanted to help shine a light on it." nat In April 2024 six runners also took part in 18฿28 the iconic TCS London Marathon raising an incredible £13,900 for NCT. We'd like to thank: Jason Nourse, Thomas Shore, Adam Sennitt, Charlotte Gower, Jessica Dunn, Dylan Clarke and Agnes Hann for their amazing commitment to fundraising Sarah, Carol, and Emily at the finish line and training for this event. 18866 If you'd like to be part of #TeamNCT by running a full or half Marathon please do get in touch via fundraising@nct.org.uk 58 Strong foundations, strong futures Emma's story: Celebrating new beginnings in creative ways Emma Atkinson was awarded Platinum by BBC Gardeners' World for her inspirational show garden at BBC Gardeners' World Autumn Fair in Essex. Emma, a garden designer, who attended an NCT Antenatal course during her pregnancy, created a special garden space to celebrate the transition to life with a new baby. Emma said: "The garden is called Finding your 'Pink' and takes its inspiration from flamingos. The garden has been designed for women postpartum as a calm and peaceful sanctuary, reassuring new mums." The garden was popular with visitors across the weekend, including Emma's NCT classmates and their babies, and NCT President, Sherry Bevan. Our congratulations to Emma and thanks for her amazing support! Emma with her award winning garden hat ńct Emma's show garden at the BBC Gardeners' World Autumn Fair in Essex 59 Strong foundations, strong futures NCT membership We're proud to be a membership charity - and even prouder of our members. Thank you to everyone who's been part of our journey over the years. Membership has taken many forms, and throughout 2024, we've worked closely with our Board to shape the next chapter - one that continues to meet the needs of our charity, our mission, and, most importantly, our members. If you're already part of our NCT community, you may have noticed changes to our newsletter, with more stories about our campaigning work and the difference your support is making for parents across the UK. This is just the beginning. In 2025, we're building more ways to bring your membership to life - to connect, to influence, and to celebrate what we can achieve together. We'd love to hear what would make your membership feel even more meaningful. Your voice matters, and we're listening. Get in touch via members@nct.org.uk Not yet a member? There's never been a better time to join. Be part of something powerful. 60 Our thanks Organisations, alliances, and networks that we have worked with during the year Alternatives Trust, Association of Volunteer Managers (AVM), Birthrights, Black Mothers Matter, Breastfeeding Alliance, Breastfeeding Network, British Pregnancy Advisory Service, City of Sanctuary, Charity Reform Group, Five X More, Good Innovation, Health and Wellbeing Alliance, Hello Brave, HumanKind, Institute of Health Visiting, London Maternity Clinical Network, London Marathon, London Landmarks, Magpie Project, Maternal Mental Health Alliance, Maternity Action, Mini First Aid, NSPCC, One Voice, Pregnancy and Baby Charity Network, RELAX Study, Royal College of Midwives, Royal College of Obstetricians and Gynaecologists, Together, The Motherhood Group, University of Worcester STFWV, UNICEF, University of Dundee, Vision for Volunteering. Funders and commissioners Arnold Clark Arthur Meredith Memorial Charity Baby Bank Alliance Babycare TENS Brympton Parish Council Calm City Bridge Trust Community Chest Cornwall Co-op Countess of Chester NHS FT Coventry and Warwickshire NHS PT East Sussex County Council Evelyn Trust Flitwick Council Flos - Place in the park Four Lanes Trust Frodsham Town Council Good Things Foundation Hackney Council Halton Borough Council Hartlepool Council Homestart Trafford, Salford and wigan Lancashire County Council Leeds City Council Lenardo Lidl Medway Community Healthcare Newham Council NHS Cheshire and Merseyside ICB NHS Fife NHS Greater Glasgow and Clyde NHS Lothian NISA North East London ICB North West London ICB Paddington Development Trust Peppa Pig Peterborough City Council Royal Berkshire NHS FT Royal Docks Trust Savoo Scottish Government Skipton Gala Committee Sport England St Helens Borough Council Tesco Stronger Starts The London Borough of Hounslow The National Lottery Community Fund Twins Trust Venture Community Association 61 Our community We are inspired by the efforts and generosity of the NCT community who continue to amaze us every day, and you have all made a difference. With thanks to: • All our members • All our volunteers and Peer Supporters • All our practitioners • All our staff • All our students • The NCT Diversity and Affinity Networks • The Neurodivergent Staff Network • The Practitioner Representative Body • Our Board of Trustees. Join us At NCT, we're building a community that's welcoming, inclusive, bold, and collaborative and there's a place here for you. Whether you're looking to support parents, grow your skills, or connect with others, you can make a difference: • Become a member - Stay informed, connected, and part of a movement that makes change happen. • Donate - Help us continue our vital work by funding local services and expert support. • Fundraise - Run a cake sale, or run a marathon for our cause! • Volunteer - Join our amazing volunteer community and be a force for good in your area. • Find events near you - Connect with others and be part of something local and meaningful. Together, we can make sure that every parent is connected, confident and safe. FR Registered 2024/25 O FUNDRAISING REGULATOR 62 Financial review ict Financial review Financial review Overall summary Total group income fell 6% from £11.8m to £11.1 m during the year. This was driven by challenging economic conditions, notably the continued cost-of-living pressures on new and expectant parents, and increased competition in the market for antenatal courses which meant that antenatal course income fell 20% year on year. Programme Delivery income continued to see significant growth, enabling a wider reach during the period. Other income for the year included a substantial gain from the sale of the leasehold office premises in Bristol. Operating costs grew due to two factors - growth in Programme Delivery activity, as well as general inflationary pressures. The net result for the year was a deficit operating position of -£0.5m (2024: breakeven) before investment income of £0.1m (2024: £0.1m), a gain on the sale of the office premises of £0.5m (2024: nil), investment gains of £0.03m (2024: gains of E0.2m) and non-operational spend of E0.8m (2024: £0.3m), which included investment in several strategic projects, including the sale of the office premises, as well as staff restructuring costs. The operating position is a key financial target and was managed very closely in line with the approved Reserves Policy. After non-operating expenditure, investment income and gains on investment and fixed assets, the total net expenditure for the year was -£0.7m (2024: Net Income of £0.01m). Again, this was in line with the requirements of the Reserves Policy. NCT Courses Delivery of antenatal and other courses to parents is one of NCT's key educational activities. Income in this area exceeds expenditure, with surpluses supporting the education and development of current and future NCT practitioners; the delivery of commissioned services in the health sector; and work in the policy, research, campaigns, content and information areas, including the much-needed delivery of the NCT Infant Feeding Line. Income from courses of £7.0m represents a £1.8m decrease on the prior year (2024: £8.8m). This decline reflects the continued cost-of-living crisis and intense competition for antenatal courses. The number of Antenatal course bookings by start date was 24,515 (2024: 29,234) while post course parent satisfaction was 94% (2024: 95%). Total costs fell from £6.4m in 2024 to £5.9m, as fewer bookings led to lower Education and Practice In September 2024, the Education programme was paused, with no new students taken from this date. This pause enabled initial development work into a new approach to create a modern, inclusive and agile training framework for the recruitment and development of our practitioners of the future. As a result, NCT education and practice income decreased from £0.3m to £0.2m and costs decreased from £1.0m to £0.7m. 65 Financial review Programme Delivery Programme Delivery provides local and national services to parents that are free at the point of access. They are largely commissioned contracts with the National Health Service, including hospital trusts and health boards, and local authorities as well as central government departments. This work is also supported through funding from Trusts and Foundations. This area also delivers the vital NCT Infant Feeding Line. Income for Programme Delivery in the year grew by 64% to £2.3m (2024: £1.4m) building on the growth seen in 2024. During the year, 2,500 parents were supported through our perinatal peer support programmes (2024: 3,700) and our breastfeeding peer support programmes supported nearly 20,000 people (2024: 10,000). Membership, grants and donations Total donation income has remained at £0.8m (2024: £0.8m) with a £0.1m fall in membership income offset by a £0. 1m increase in grant income. Work has commenced to make membership a more accessible experience. Other trading activities Total income from other trading activities declined to E0.2m (2024: E0.4m). This was largely due to a decrease in the number of branch activities. A decline in income from corporate partners also contributed to the decrease. Responsible Fundraising NCT is supported in its charitable fundraising by so many amazing supporters spanning companies, charities, individual donors and volunteer fundraisers. We would like to thank everyone for their efforts to make a difference to parents across the UK. Our fundraising activities, led by the central charity and volunteer branches, are monitored by appropriate members of the Senior Leadership Team. We do not use mass audience commercial fundraising operations such as telephone call services or face-to-face street fundraisers. During the year, no complaints (2024: none) were received about our fundraising activities. Our Trading subsidiary NCT Trading Limited will shortly become dormant. Our overarching safeguarding commitment to all members of the NCT community encompasses protection of people in vulnerable circumstances including a dedicated point of contact for any concerns in this regard that is open to the entire charity. As a registered member of the Fundraising Regulator Directory, we are proud of our commitment to continuously reflect upon, learn and evolve our fundraising practices. Investment income and asset movements Income received from cash balances and the investment portfolio was £0.1m (2024: £0.1m). A gain of £0.03m was recorded on the investment portfolio (2024: a gain of £0.2m) reflecting market movements. 66 Financial review Going concern The Board has assessed the Charity's ability to continue as a going concern. Total unrestricted funds at the end of the 2024/25 financial year were in line with the revised Reserves Policy. The plan and budget for the coming year was set to operate within acceptable risk levels and within the risk reserve level. Management accounts regularly re-forecast the yearly outcome, which allows for quick and appropriate responses to changes in our operating model and demand for our services. After a review of the current and future risks and the plans to mitigate those risks, an assessment of a 12-month forecasted cashflow and with consideration of the value of the investment portfolio (£4m), the Board is comfortable with the appropriateness of the going concern basis for accounting. Investment Policy The Investment Policy is reviewed by the Audit, Risk and Scrutiny Committee regularly and the latest version was approved by the Board in October 2024. NCT seeks to achieve the best financial return within an acceptable level of risk, which has been defined as medium on a scale of low, medium and high. The desired risk level is achieved through a mixed portfolio of low-risk cash deposits and medium risk managed investment funds held for the long term. All investments are made within the terms of the NCT Commercial and Charitable Activities Policy (CCAP) that takes social, environmental and ethical considerations into account. The investment objective for long-term investments is to generate a return in excess of inflation in order to preserve the real terms value of NCT's reserves and support growth of the reserves, and thereafter within, the range determined by the reserves policy. The charity monitors performance closely and continues to take regular advice from its investment managers. The performance of the funds over the time held meets the investment objectives. During the 12 months to March 2025, the value of the Investment Portfolio grew by 0.3% (2024: growth of 7.8%) which was less than the UK CPI of 2.6% in the same period (2024: 3.2%). The investment objective for the short-term investments is to seek the highest rate of interest available for cash deposits with a UK FSCA regulated financial institution, with deposits made with different institutions where practicable. Under the Investment Policy, NCT considers that it holds a mixed motive investment in NCT Trading Limited. This is because the investment had two aims: firstly, to provide funding which will generate a financial return for NCT; and secondly to contribute to NCT's charitable purpose by promoting goods and services that are beneficial to prospective and new parents. This has assisted the charity in achieving its strategic objective of providing new parent support. The scale of the activities delivered through NCT Trading Limited have fallen in recent years and consideration is being given to making the company dormant. The investment in NCT Trading Limited has been made through holding 100% of its issued share capital at a cost of £100. Total Funds The group balance sheet at 31 March 2025 showed total funds of £3.9m (2024: £4.6m) of which £0.2m (2024: £0.3m) were restricted. Restricted funds, analysed in Note 15, comprise donations and grants subject to donor-imposed conditions. Unrestricted funds were £3.7m (2024: £4.3m), of which £0.002m were represented as fixed assets (2024: £1.2m) following the sale of the leasehold building held in Bristol. The balance of the Group general funds, representing the 'free reserves', was £3.6m at 31 March 2025 (2024: E3.1m). 67 Financial review Reserves Policy The Reserves Policy, which was last updated in March 2025, provides a dynamic framework for determining available reserves by identifying two components of NCT's risk management reserve: • Winding up reserve to cover the costs of winding up the charity; and • Risk response reserve to respond to uncertainty identified in the risk management process. Any surplus funds beyond these considerations represent the strategic development reserve. The Board determined a target risk management reserve level of £3.2m in March 2025. This comprises £1.7m for the costs of winding up and £1.5m to respond to uncertainty identified in the risk management process. Compared with the previously agreed levels, the £1.0m cash flow reserve has been removed and the winding up reserve has decreased to reflect the current size of the group. The level of the risk response reserve has increased to reflect the latest operating performance and risk assessments. The Board plans to reduce the target level of the risk response reserve further by continuing to address key risks. By planning for a breakeven operating position over multiple periods, any investment income and gains can be used to increase the strategic development reserve. The amounts held in these reserves at the end of the last three financial years are shown below. £5.0m £0.2m £4.0m £1.5m £0.2m £1.3m £0.4m £3.0m £1.5m £2.0m £1.7m £1.8m £1.0m £1.7m £1.0m £1.0m E0.Om 31 March 2023 31 March 2024 31 March 2025 Cash flow reserve Winding up reserve Risk response reserve • Strategic investment reserve At 31 March 2025, total unrestricted funds were £3.6m, exceeding the required risk management reserve level of £4.1m meeting the requirements of the policy. This means that the charity holds sufficient funds to perform an orderly wind up if needed and manage risks as they arise. The remaining group funds as at 31 March 2025 were held in the strategic development reserve of £0.2m (2023: £0.2m). Any funds held in the strategic development reserve at the end of each year are used to invest in future growth opportunities to meet one-off items of expenditure during the following year. 68 Financial review Risk management Effective risk management is critical for achieving the For Every Parent strategy and the risk management process identifies the uncertainties and events that could affect the achievement of the strategic objectives. Trustees acknowledge their responsibility for ensuring effective risk management systems and procedures. The Board works closely with the Directors Group to identify the most significant risks, mitigate any potential impact of downside risks and exploit the opportunities of upside risks and opportunities. The Board reviews the full Risk Register every year and receives regular updates on significant changes to the profile of individual risks throughout the year. The Audit, Risk and Scrutiny Committee has delegated authority from the Board to: • review risk management systems and procedures; • drive continued improvement in the sophistication and impact of our risk management processes; • advise the Board on the principal risks faced and any changes to the Risk Register; • scrutinise the analysis and management of risks by the Directors Group through a review of the Risk Register every quarter; and • receive periodic deep dive reviews of significant risks, usually twice a year. Managing each risk is the responsibility of the senior managers within each Directorate. Controls and actions are put in place to mitigate the identified risks as far as is possible and practical, consisting of processes built around the Risk Register, external professional advice and insurance where appropriate. The Risk Management Policy is reviewed every two years. Through this Policy, the level of gross risk to the achievement of strategic objectives is assessed and the likelihood of this occurring given existing activities to manage the risk appraised. The net risk is compared to the agreed risk appetite for each broad category to identify areas where increased focus is required to manage individual risks. Principle risks and uncertainties There are 30 risks on the Risk Register. In the Reporting Period, the Charity's five principal risks and uncertainties, taken from the Risk Register, which the Board monitored during the year, are summarised below: Risk Antenatal Course Performance Health & Safety and Safeguarding Information Governance including Cyber Risks Information Provision Investment Returns Public Benefit Statement The Board has referred to the relevant guidance (as published by the Charity Commission in its guidance documents PB1 "Public benefit, the public benefit requirement", PB2 "Public benefit: running a charity and PB3 "Public benefit: reporting") and concluded that NCT complies with the duty in Section 17 of the Charities Act 2011 to have due regard to public benefit because the charitable services delivered provide value to the public in general and new parents in particular. 69 Structure and governance Structure and governance NCT (The National Childbirth Trust) is a registered charity. It is a company limited by guarantee governed by its Articles of Association as adopted on 26" September 2015 and amended on 18 October 2018. The Board of Trustees NCT is governed by a Board of Trustees who are the directors of the charity for the purposes of the Companies Act. The Board of Trustees is ultimately responsible for the governance of the Charity to ensure that it acts in the best interests of all parents, who are the Charity's beneficiaries. The Board of Trustees sets the strategy, policy and financial framework for the Charity and has the responsibility for its overall direction and control. Additionally, the Board has responsibility for ensuring that the Charity complies with the law and the safeguarding of the Charity's assets, including its money, property and reputation. The names of trustees at the date at which the accounts were approved, or who served during the period, are given below. There were two resignations following the end of the reporting period. The Board is very grateful for the work and commitment of David Shanks who served two full terms as trustee. Chi Evi-Parker stepped down to take a period of maternity leave and the Board thanks her for her commitment and contribution over her term as a trustee. Name Start date of most recent term Date of resignation Joëlle Warren (Chair) Sarah Brown (Vice Chair) Sherry Bevan (President) Charles Richardson (Honorary Treasurer re-appointed 15 July 2024) Ema Ojiako (Honorary Secretary) Chi Evi-Parker Appointed 16 October 2024 - Elected 4 November 20212 Elected 16 November 2019 Appointed 15 July 2022 Re-appointed 1 August 2025 - Elected 11 December 2020 Resigned 23 April 2025 David Shanks Appointed 7 August 20211 Resigned 6 August 2025 Elaine Lambe Elected 4 November 20212 Franciane Husbands-Chevot Elected 11 December 2020 - - Julien Haye Elected 8 November 2023 Mikayla Pencross Vikram Sundarraj Elected 8 November 2023 Appointed to act as Elected 21 March 2024 - - 1 Second term, initial term commenced on 7 August 2017 2 Second term, initial term commenced on 4 November 2017 70 Structure and governance The charity is a membership charity. Members are organised locally into branches. Many members and volunteers carry out the work of the charity at a local level. Each year, the Board reviews past performance and sets plans within a forward-looking planning horizon. As part of that review and planning process, the trustees consider how future plans and performance relate to the aims and vision of the Charity and thus to the charitable purpose. The trustees are committed to ensuring NCT's governance and constitutional framework reflect current thinking on best practice. The Board of Trustees is committed to the principles of the Charity Governance Code. Authority for the day-to-day management of the charity within that framework is delegated to the Chief Executive, supported by colleagues on the Directors Group. Together, they formulate strategy, policy and financial plans for the Board's approval, ensure delivery of required performance and oversee the Charity's day-to-day operations. 71 Structure and governance Recruitment and appointment of trustees The Board of Trustees must have a minimum of nine trustees and a maximum of twelve. Of the maximum, there may be up to eight member elected trustees and four appointed trustees. Any member may stand for election as a trustee subject to the restrictions laid down in the Governance handbook. Member-elected trustees are elected to coincide with the Annual General Meeting, whilst appointed trustees may be appointed during the course of the year. Any trustee vacancies arising during the year may also be filled by the Board until the date of the next Annual General Meeting. The process of appointing new trustees is led by the Nominations and Remuneration Committee based on an assessment of the key skills required by the Board. An executive search firm may be used to attract a diverse range of candidates from different backgrounds. Extensive screening will take place followed by rigorous interviews. All appointments are subject to satisfactory references. Elected and Appointed Trustees have a term of four years and the President has a term of five years. An individual may serve a maximum of two terms as an Elected Trustee, two terms as an Appointed Trustee and two terms as President. Further details on the recruitment and appointment of trustees can be found in the Governance Handbook at http://bit.ly/46KFkDv. We are keen to talk to anyone interested in serving as an Independent Committee member, especially people who will bring unique skills and experiences. To discuss becoming involved, please contact us at board.secretary@nct.org.uk. Induction and training of trustees A comprehensive and structured induction programme is put in place for new trustees. This includes: • a written briefing about trustees' responsibilities and copies of relevant Policies; • detailed presentations covering Strategy; Governance; Courses & Income; Practitioners and Education; Impact and Engagement; People & Inclusion; Volunteering; Finance; and Data and Technology; and • meetings with the Chair, Chief Executive and other members of the Directors Group. In addition, access is provided to specific training that is tailored to the incoming trustee. Training is also provided during the year for trustees, for example at the Board Away Day session, on topics relevant to the Board's current work and strategy or through access to external courses as required. 72 Structure and governance Board committees The Board of Trustees is supported in its work by committees. There are two Board committees • Audit, Risk and Scrutiny [ARSC] - covering the adequacy of financial control, external reporting, budgeting, performance and risk management. • Nominations and Remuneration [NRC] - covering people issues, equity, diversity and inclusion, trustee recruitment and the remuneration policy for senior management and other key groups. In addition, Advisory and Task and Finish groups enable internal and external experts to be involved in decision-making and governance. There is also a Lead Trustee for safeguarding to provide additional support, scrutiny and oversight in this area and a 'Lead Trustee' for Health and Safety (H&S). The full Board maintains collective responsibility for all these areas and receives update reports at Board meetings. Independent committee members are individuals who bring additional skills, experience and perspectives to the work of our sub-committees. They are not trustees. Committee membership and lead trustee roles as at 31 March 2025 are detailed in the table below. Name Joëlle Warren Sarah Brown Sherry Bevan Charles Richardson Ema Ojiako Chi Evi-Parker David Shanks Elaine Lambe Franciane Husbands-Chevot Julien Haye Mikayla Pencross Vikram Sundarraj Faran Johnson Naomi Horsfall Role Trustee / Chair Trustee / Vice Chair / Safeguarding Lead Trustee Trustee / President Trustee / Honorary Treasurer Trustee / Honorary Secretary Trustee Trustee Trustee Trustee Trustee Trustee Trustee / Health & Safety Lead Independent Committee Member Independent Committee Member Committee membership NRC (and attendee at ARSC) ARSC - ARSC (Chair) NRC (Chair) - NRC - ARSC NRC ARSC ARSC ARSC Structure and governance Key relationships NCT wholly owns one active commercial company, NCT Trading Ltd, which gift aids its profits to the charity. The Board of NCT Trading Ltd is responsible for its activities and it is the intention that the company will become dormant in 2025/26. Charity Commission guidance makes it clear that the Board of Trustees is responsible for establishing the overarching principles within which its subsidiary's trading activities must take place. Trustees have established a comprehensive Commercial and Charitable Activities Policy within which the Trading Board is required to operate. Trustee benefits Under the terms of its Articles, the Charity is able to pay trustees for the provision of services to achieve its objectives, subject to certain safeguards. This includes the requirement that a majority of the trustees must have received no payments from NCT either as employees or for goods and services supplied to NCT. This year, no member of the Board of Trustees received any remuneration in respect of their services as trustees (2024: None). Expenses and other payments to trustees are detailed in Note 9. Statement of the Board's responsibilities as trustees The trustees (who are also directors of NCT for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Members of the Directors Group are not Directors as defined by Company Law. Company law requires trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to: • select suitable accounting policies and then apply them consistently; • observe the methods and principles in the Charities SORP; • make judgments and estimates that are reasonable and prudent; • state whether applicable UK Accounting Standards, including FRS102, have been followed, subject to any material departures disclosed and explained in the financial statements; and • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006, as amended by the Charities Accounts (Scotland) Amendment (No. 2) Regulations 2014. They are also responsible for safeguarding the assets of the charitable company and the group, and hence for taking reasonable steps to prevent and detect of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. 74 Structure and governance In so far as the trustees are aware: • there is no relevant audit information of which NCT's auditor is unaware; and • they have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. Remuneration Policy NCT recognises that pay is part of a wider employment offer for employees, which also includes the satisfaction of working for a charity, personal development opportunities, family-friendly policies and practices, annual leave and absence policies and a range of other benefits including access to the pension scheme. NCT operates a benchmarked market rate system, using reputable and appropriate data. NCT aims to pay employees between plus/minus 10% margin of the market median salary for most roles. Employees will not normally be paid less than the lower decile or higher than the higher decile for any role. When benchmarking pay and benefits, NCT will compare against charities of similar size, employee numbers and income, workplace location and competitors. Additionally, a specialist consultancy will be commissioned to independently review the market rate for the salaries of the Directors Group every three years. Each year, NCT will consider whether to uplift all employee salaries by the cost-of-living. This will take into account the Consumer Price Index, Retail Price Index and the national average increase in earnings. Any decisions will be based on affordability and are at the Board's discretion. Appointment of Auditors HaysMac LLP have been appointed in accordance with section 487(2) of the Companies Act 2006. The strategic report, which forms part of the Trustees' Annual Report, is approved by the trustees in their capacity as directors of the company. The Trustees' Report is approved by the Board of Trustees and signed on its behalf by: Dre- Joelle Warren Chair 30 September 2025 75 Auditor's report Independent auditor's report to the members and trustees of National Childbirth Trust Opinion We have audited the financial statements of National Childbirth Trust for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, Charity Statement of Financial Activities, Consolidated and Charity Balance Sheets, Consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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 group's and of the parent charitable company's affairs as at 31 March 2025 and of the group's and parent charitable company's net movement in funds, including the income and expenditure, for the year then ended; • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and • have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006. 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 group 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 the group'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. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 76 Auditor's report Other information The trustees are responsible for the other information. The other information comprises the information included in the Trustees' 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. In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 (which includes the strategic report and the directors' report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and • the strategic report and the directors' report included within the Trustees' Annual Report have 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 group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Annual Report (which incorporates the strategic report and the directors' report). We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charity Accounts (Scotland) Regulations (as amended) require us to report to you if, in our opinion: • adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or • the parent charitable company 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. Responsibilities of trustees for the financial statements As explained more fully in the trustees' responsibilities statement as set out on page 73, 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 group's and the parent 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 group or the parent charitable company or to cease operations, or have no realistic alternative but to do so. 77 Auditor's report Auditor's responsibilities for the audit of the financial statements 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 misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Based on our understanding of the group and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to company law and charity law, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, the Charities Act 2011 and Charities Accounts (Scotland) Regulations 2006, income tax, payroll tax and We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to income recognition. Audit procedures performed by the engagement team included: • Inspecting correspondence with regulators and tax authorities; • Discussions with management including consideration of known or suspected instances of non- compliance with laws and regulation and fraud; • Evaluating management's controls designed to prevent and detect irregularities; • Identifying and testing journals, in particular journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions; and • Challenging assumptions and judgements made by management in their accounting estimates. 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. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. 78 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, section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006. 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. dEBA Kathryn Burton (Senior Statutory Auditor) For and on behalf of HaysMac LLP, Statutory Auditors Date: 12th November 2025 10 Queen Street Place London EC4R 1AG 79 Financial statements NCT consolidated group statement of financial activities Including Income & Expenditure Account for the Year Ended 31 March 2025 Unrestricted Restricted Total Unrestricted Restricted Funds Notes Funds 2025 Funds Funds 5'000 €'000 E'000 E'000 E'O00 Income from donations Membership Donations Grants receivable 156 7 i 156 228 8 19 - i 3 672 672 163 673 17 574 836 264 575 Charitable activities NCT Courses Education and Practice Programme Delivery 4 7,013 151 2,292 9,456 - Other trading activities Community fundraising Commercial fundraising Trading 7,013 151 2,292 9,456 172 167 23 - 190 120 120 5 5 195 8,770 293 1,414 10,477 334 71 3 408 97 97 27 11,273 : : - Total 2024 5:000 228 20 591 839 8,770 293 1,414 10,477 334 71 3 408 Investments Investment portfolio income : 120 120 Other income Other income receivable Total income 527 10,456 678 527 11,134 575 97 97 27 11,848 Expenditure on raising funds Membership Charitable activities NCT Courses Education and Practice Programme Delivery Policy, research and information Other trading activities Community fundraising Commercial fundraising Trading Total Expenditure Net operating (expenditure)/income Gain/(loss) on investment assets Other gains and losses Charitable distribution 5 6 7 8 146 5,581 732 3,086 1,210 10,609 263 9 184 456 11,211 (755) 31 (724) - 253 - 305 558 114 114 672 6 - - 6 146 5,834 732 3,391 1,210 11,167 377 9 184 570 11,883 (749) 31 - (718) 135 6,279 973 2,235 1,180 10,667 580 36 144 760 11,562 (289) 230 - (59) - 166 317 483 20 - 503 72 - - 72 135 6,445 973 2,552 1,180 11,150 600 36 144 - 780 12,065 (217) 230 - 13 Reconciliation of funds Total funds brought forward 4,333 Total funds carried forward 15,16 3,609 268 274 4,601 3,883 4,392 4,333 196 268 4,588 4,601 All of the group's activities are derived from continuing operations during the above two financial periods. The group has no recognised gains or losses other than those shown above. The movement in reserves is shown above. The notes on pages 84 to 100 form part of these financial statements. 80 Financial statements NCT charity statement of financial activities Including Income & Expenditure Account for the Year Ended 31 March 2025 Unrestricted Restricted Total Unrestricted Funds Funds 2025 Funds Notes E'000 €'000 £'000 E'000 Restricted Funds £'000 Income from Donations and legacies Membership Donations Grants receivable 3 Charitable Activities NCT Courses Education and Practice Programme Delivery 4 Other trading activities Community fundraising Trading Investments Investment portfolio income Other income Total income Expenditure on Raising funds Membership Charitable activities NCT Courses Education and Practice Programme Delivery Policy, research and information 156 11 167 7,013 151 2,292 9,456 167 - 167 120 120 537 10,447 146 i 672 673 : 5 5 : 678 - 156 12 672 840 7,013 151 2,292 9,456 172 172 120 120 537 11,125 146 Total 2024 E'000 228 26 271 8,770 293 1,414 10,477 334 3 337 97 97 55 11,237 135 i 574 575 228 591 846 : 8,770 293 1,414 10,477 334 3 337 97 - 97 55 575 11,812 - 135 5 5,581 732 3,086 1,210 10,609 253 305 558 5,834 732 3,391 1,210 11,167 Other trading activities Community fundraising Trading 6 Total resources expended 7 Net operating (expenditure)/income Gain/(loss) on investment assets Net Merent income and 12 8 263 184 447 11,202 (755) 31 (724) 114 114 672 6 - 6 377 184 561 11,874 (749) 31 (718) 6,279 973 2,235 1,180 10,667 580 144 724 11,526 (289) 230 (59) 166 317 483 6,445 973 2,552 1,180 11,150 20 20 503 72 - 600 144 744 12,029 (217) 230 13 Reconciliation of funds Total funds brought forward 4,333 Total funds carried forward 15,16 3,609 268 274 4,601 3,883 4,392 4,333 196 268 4,588 4,601 All of the NCT's activities are derived from continuing operations during the above two financial periods. The charity has norecognised gains or losses other than those shown above. The movement in reserves is shown above. The notes on pages 84 to 100 form part of these financial statements. 81 Financial statements NCT consolidated and charity balance sheets as at 31 March 2025 Fixed Assets Intangible Assets Tangible Assets Investments Total Fixed Assets Current Assets Debtors Short term deposits Cash at bank and in hand Liabilities Creditors: Amounts falling due within one year Net current assets / (liabilities) Total net assets Fund balances Charitable funds Restricted funds Unrestricted funds General funds Fixed asset fund Total funds Notes 2025 Group £'000 12 13 14 15 16 17 4,008 4,010 487 1,807 282 2,576 (2,703) (127) 3,883 274 3,606 3 3,609 3,883 2025 Charity 4,008 4,010 526 1,807 243 2,576 (2,703) (127) 3,883 274 3,606 3 3,609 3,883 2024 Group £'000 1,241 3,997 5,238 772 501 1,149 2,422 (3,059) (637) 4,601 268 3,092 1,241 4,333 4,601 2024 Charity £'00O 1,241 3,997 5,238 790 501 1,122 2,413 (3,050) (637) 4,601 268 3,092 1,241 - 4,333 4,601 Approved and authorised for issue by the Board of Trustees and signed on its behalf by: Pre- Joelle Warren Chair 30 September 2025 The National Childbirth Trust Company Number: 2370573 (England & Wales) The notes on pages 84 to 100 form part of these financial statements. 82 Financial statements NCT consolidated cash flow statement for the Year Ended 3l March 2025 Cash flows from Operating Activities Net income / (expenditure) for the reporting period (Gains) / Losses on investments Depreciation and amortisation charges Gains on the sale of Fixed Asset Investment income (Increase) / decrease in debtors Increase / (decrease) in creditors Net cash provided by operating activities Cash flows from Investing Activites Purchase of Investments Proceeds from the sale of Investments Proceeds from the sale of Fixed Asset Dividends received Net cash from investing activities Cash flows from Financing Activities Net cash from financing activities 2025 £'000 (718) (31) 32 (525) (65) 285 (355) (1,377) (756) 681 1,752 65 1,742 2024 E'O0O 13 (230) 32 0 (86) 176 (653) (748) (2,086) 2,016 85 15 - Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at end of the reporting period 365 1,789 2,154 (733) 2,522 1,789 Analysis of cash and cash equivalents Cash at bank and in hand Short term deposits Cash held by investment managers Total cash and cash equivalents 2025 £'000 282 1,808 64 2,154 2024 £'000 1,149 501 139 1,789 A reconciliation of net debt has not been presented as the group does not have any borrowings. The notes on pages 84 to 100 form part of these financial statements. 83 Notes Notes to the financial statements | Principal Accounting Policies a) General information National Childbirth Trust is a charitable company, limited by guarantee. The registered office is 27 Old Gloucester Street, London, WCIN 3AX. Its company registration number is 2370573 (England and Wales), its charity registration numbers are 801395 (England and Wales) and SC041592 (Scotland). b) Basis of accounting The financial statements have been prepared in accordance with the accounting policies below and comply with the charity's governing document, the Companies Act 2006 and 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, the Charities Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 as amended in 2014. The charity is a public benefit entity for the purposes of FRS 102 and a registered charity. The charity has therefore also prepared its individual and consolidated financial statements in accordance with FRS 102 (The Charities SORP (FRS 102)). The financial statements have been prepared on a going concern basis and on the historical cost basis, except for the measurement of investments and certain financial assets and liabilities at fair value with movements in value reported within the Statement of Financial Activities (SOFA). The principal accounting policies adopted are set out The financial statements are prepared in sterling, which is the functional currency of the charity. Amounts included in the financial statements are rounded to the nearest thousand pounds. c) Preparation of the accounts on a going concern basis The trustees have adopted the going concern basis in preparing these accounts after assessing the principal risks and having considered the impact of returning to online courses due to COVID-19 and inflationary factors. The trustees consider that the charity is resilient to the impact of these scenarios. The trustees considered the impact of the expected future environment on the business for the 12 months following signature of the financial statements, the viability period and the longer term considering the impacts on income, expenditure and cash flow and consider the charity can absorb and adapt to the environment. On this basis the trustees have concluded that there are no material uncertainties that impact the use of the going concern basis and that the charity will be able to settle its debts as they fall due for a period of at least 12 months from the date of approval of these financial statements. Accordingly, the going concern basis has continued to be adopted in the preparation of the financial statements. d) Basis of consolidation The statement of financial activities and balance sheet consolidate on a line-by-line basis the financial statements of the charity and all its subsidiary undertakings made up to the balance sheet date. Immaterial subsidiaries are not consolidated. The decision on consolidation is based on the power NCT has to control each undertaking. 84 Notes Notes to the financial statements (continued) e) Income Incoming resources are recognised in the period in which the charity is entitled to receipt, the receipt is probable and the amount can be measured reliably. Income is deferred only when the charity has to fulfil conditions outside of its control before becoming entitled to it or when the donor or funder has specified that the income is to be expended in a future accounting period. Legacies are included in the statement of financial activities when the charity is advised by the personal representative of an estate that payment will be made or property transferred and the amount involved can be measured reliably. Grants, including government grants, have been included as income from charitable activities where these amount to a contract for services or a grant for specific costs. Fees from NCT affiliates are included in full within incoming resources. Expenditure Expenditure is included in the statement of financial activities when incurred and includes any attributable VAT, which cannot be recovered. Resources expended comprise the following: • Charitable activities, which comprises expenditure on the charity's primary purposes and are categorised as NCT Courses, Education and Practice, Programme Delivery and Policy, Research and Information. » NCT Courses comprises the costs of providing courses, for parents and expectant parents where a participant generally books the course. » Education and Practice comprises the costs of providing training and support for students and NCT practitioners who deliver NCT courses. » Programme Delivery comprises the costs of delivering services procured under a contract for services or a grant and providing specialist helplines. » Policy, research and information comprises the cost of the research and service development teams, as well as communications and marketing. • Expenditure on raising funds is categorised into membership only. Membership expenditure comprises the costs of the department that services members and prospective members and the team that provides support to members and Branches. • Other trading activities is categorised into community fundraising, commercial fundraising and trading » Community fundraising, which comprises the community fundraising support team, the costs of Branch fundraising activities and costs associated with the administration of Branches. Many of the fundraising events held by the branches have two objectives, to raise funds for the charity as well as meeting the aims of the charity in terms of providing postnatal support for families. There is no meaningful way of apportioning the costs of Branch fundraising events between fundraising costs and charitable activities. » Commercial fundraising is the cost of obtaining and managing the sponsorship of activities and events and undertakes other business activity on behalf of NCT by NCT Trading Limited. » Trading comprises the costs of supporting other trading activities. g) Basis of apportioning support costs Support costs, which includes governance costs, represent indirect charitable expenditure. In order to carry out the primary purposes of NCT, it is necessary to provide support in the form of the people and inclusion team, financial operations and management, information technology, general management and administration and office services. These costs are apportioned to the other activities within the charity based on the average number of full-time equivalent employees utilised by the activity. h) Gifts in kind Facilities and services donated to the charity for its own use are included in incoming resources and expenditure at their value to the charity as at the time of the gift. 85 Notes Notes to the financial statements (continued) i) Tangible and intangible fixed assets All assets costing more than £1,000 and with an expected useful life exceeding one year are capitalised. Leasehold properties used for the work of the charity are included in these accounts at the cost of acquisition. Software development is capitalised when there is future economic benefit to the charity and ongoing lease costs are not required to use the developed software. Fixed assets are capitalised and depreciated at the following rates per annum, based on cost, in order to write them off over their estimated useful lives at the rates shown below. Category Asset Group Rate per annum Property Leasehold 2% Leasehold improvements Lease length or on a component basis, minimum 2% Equipment End user computer equipment and software 33% Computer and telecoms network infrastructure and software 20% Furniture 20% Other equipment 33% At the end of each reporting period, residual values and useful lives are reviewed and adjusted as necessary. Assets are also reviewed annually for impairment. j) Fixed asset investments Listed equities are included in the financial statements at fair value as at the balance sheet date. Investments in subsidiary undertakings are held at cost less impairment. Realised and unrealised gains (or losses) are credited (or debited) to the statement of financial activities in the year in which they arise. k) Fund accounting Restricted funds are monies raised for, or their use restricted to, a specific purpose, or contributions subject to donor imposed conditions. The fixed assets fund represents the net book value of the tangible and intangible fixed assets used in the day-to-day operations of NCT. The value of this fund is not available for working capital. General funds represent those monies, which are freely available for application towards achieving any charitable purpose that falls within the charity's charitable objects. 1) Leased assets Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged on a straight-line basis over the lease term. Rental applicable to finance leases where the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee are recognized as assets at the lower of the assets fair value at the date of inception and the present value of minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the Statement of Financial Activity so as to produce a constant periodic rate of interest in the remaining balance of the liability. 86 Notes Notes to the financial statements (continued) m) Branches Branch transactions are considered transactions of the charity. n) Employee benefits The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. o) Debtors Debtors are stated at their net realisable value after allowing for bad and doubtful debts. p) Creditors settle the debt Creditors are amounts owed by the charity. They are measured at the amount that the charity expects to have to pay to q) Pension costs The charity as an employer contributes to personal pension plans of its employees. The contributions are set at up to 5% of gross salary and are available to all employees whose contracts are permanent and who have completed three months' service with the charity. r) Redundancy costs Redundancy costs are recognised when there is a legal or constructive obligation. s) Financial Instruments The National Childbirth Trust has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost using the effective interest method. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. Financial liabilities held at amortised cost comprise trade and other creditors. t) Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Any bank overdrafts would be shown within borrowings in current liabilities. u) Irrecoverable VAT All expenditure is charged to the SOFA on an accruals basis including the charge for VAT which is not recoverable. v) Accounting judgements and estimation uncertainty In preparing financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements. The following judgements and estimates are considered by the Board to have the most significant effect on amounts recognised in the financial statements. Tangible fixed assets are depreciated to their estimated residual value over their estimated useful economic life as detailed above. Accrued course expenditure is estimated at the year end date using algorithmic modelling based on contracted hours and pre-agreed rates and anticipated venue costs. 87 Notes Notes to the financial statements (continued) 2 Commercial trading operations The National Childbirth Trust owns the entire called up ordinary share capital of four companies incorporated in the United Kingdom: • NCT Trading Limited, which has two principal activities; the promotion of the work of NCT and profit generation; • NCT (Maternity Sales) Limited which did not trade during the period of these accounts; • NCT Publishing Limited which did not trade during the period of these accounts; and • First 1,000 Days Foundation which did not trade during the period of these accounts. NCT Trading Limited has a deed of covenant to distribute its taxable profit to NCT. A summary of the results of the trading subsidiary for the period are given below. Profit and loss account - NCT Trading Ltd Turnover Cost of sales Gross profit Administrative expenses Operating profit before interest Interest payable Comprehensive income for the period 2025 E'000 23 23 (19) 4 2024 £'000 71 (64) ; 31 March 2024 £'000 29 (29) Balance Sheet - NCT Trading Ltd Current Assets Amounts falling due within one year Net Assets 31 March 2025 €'O00 39 (39) The above figures exclude any consolidation adjustments for inter-group profits/losses, which have been reflected in the consolidated statement of financial activities. The accounts figures have been consolidated on a line-by-line basis. 88 Notes Notes to the financial statements (continued) 3 Income: grants receivable Group and Charity Parents in Mind Grants to branches BBCS Scottish Health Newham Nurture Antenatal Unrestricted Funds £'000 ...... Restricted Funds €'000 Total 2025 E'000 Unrestricted Funds £'000 Restricted Funds E'00O 332 14 184 102 40 672 14 184 102 40 672 : 17 31 185 96 6 574 Grants receivable includes government grants for Scottish Health and Newham Nurture and totalled £287k (2024: £281k). 4 Income: programme delivery Unrestricted Funds Group and Charity National Health Service Local Authorities Other 623 1,636 33 2,292 Restricted Funds E'000 : Total 2025 £'000 623 1,636 33 2,292 Unrestricted Funds £'00O 607 775 32 1,414 5 Expenditure: NCT courses Group and Charity Antenatal Postnatal General Parental Support Apportioned support costs Unrestricted Funds E'000 4,338 224 1,019 5,581 Restricted Funds £'000 : 253 Total 2025 253 4,338 477 1,019 5,834 Unrestricted Funds E'00O 4,318 37 901 1,023 6,279 6 Expenditure: community fundraising Group and Charity Branch fundraising Central fundraising Unrestricted Funds - £'000 82 181 = 263 Restricted Funds £'O0O 114 89 Restricted Funds £'000 - Restricted Funds £'000 166 166 Total 2025 196 181 377 Total 2024 5:000 3 270 31 185 96 6 591 Total 2024 £'000 607 775 32 1,414 Total 2024 5'000 4,318 37 1,067 1,023 6,445 Total 2024 E'000 398 202 600 Notes Notes to the financial statements (continued) 7 Support cost allocations Support costs are allocated to the expenditure headings in the Statement of Financial Activities, on the basis stated in 3 8 - 8 3 m r Notes Notes to the financial statements (continued) NCT Education Programme Researin Community Membership Courses and Practice Charity 2024 £'000 £'000 Delivery Information Fundraising Trading E'O00 £'000 £'O0O £'OO0 £'000 Staff costs 22 506 136 472 3 128 Depreciation 1 12 11 48 3 1 1 remises an quipmen 3 59 16 55 15 2 Office supplies 4 88 24 82 22 3 Insurance 34 9 32 9 3 1 Vrecoverable 1 3 68 18 64 17 3 Governance Other - 10 3 9 3 1 11 246 66 229 61 - 24 Support Costs 45 1,023 275 954 258 Direct Costs 90 5,422 698 1,598 922 503 106 Total Costs 135 6,445 973 2,552 1,180 600 144 8 Net movement in funds Net movement in funds is stated after charging: Depreciation/amortisation of fixed assets Staff costs (excluding agency staff) Operating lease rentals Auditors' remuneration: audit services Auditors' remuneration: non-audit services Investment management fees Gifts in kind from corporate partners 9 Staff costs and remuneration Staff costs during the period were as follows: Group 2025 £'000 32 5,292 11 55 29 Wages and salaries Redundancy costs Social security costs Other pension costs Payments to agency staff Group Total 2025 £'000 4,426 294 365 207 5,292 - 5,292 There were no outstanding redundancy costs at the balance sheet date. Staff costs by function were as follows: Raising funds Other trading activities Charitable activities Group Total 2025 £'000 111 297 4,884 5,292 91 2024 £'000 32 4,766 11 52 2 27 15 Total 2024 £'000 4,176 66 326 200 4,768 4,768 Total 2024 £'000 95 325 4,346 4,766 Total 2024 £'000 1,331 32 15€ 231 89 175 2€ 64€ 2,690 9,339 12,029 Charity 2025 £'O0O 32 5,292 11 55 15 29 2024 £'000 31 4,741 11 47 - 27 15 Charity Total 2025 €'000 4,426 294 365 207 5,292 Total 2024 E'00O 4,153 66 324 198 4,741 5,292 4,741 Charity Total 2025 £'000 111 297 4,884 5,292 Total 2024 95 300 4,346 4,741 Notes Notes to the financial statements (continued) Higher paid employees: Group Total 2025 Total 2024 3 1 Charity Total 2025 1 2 Total 2024 £60,000 - 69,999 £70,000 - 79,999 £80,000 - 89,999 £90,000 - 99,999 £100,000 - 109,999 £110,000 - 119,999 5 6 1 5 The pension cost for these employees, was £18,820 (2024: £19,873), which included the Chief Executive who received a total salary of £127,515 (2024: 118,965) and pension contributions of £6,376 (2024: £4,759). The average headcount including part-time staff, analysed by function was: Group Number 2025 Number 2024 Charity Number 2025 Number 2024 Raising funds Other trading activities Charitable activities Support 155 23 185 154 24 187 155 23 185 154 24 186 The average number of full time equivalents, analysed by function was: Group Charity FTES FTES FTES 2025 2024 2025 Raising funds Other trading activities Charitable activities Support 1.0 1.9 1.0 3.4 104.8 5.6 3.4 106.0 104.8 21.6 21.3 21.6 130.8 134.8 130.8 The key management personnel of the charity comprise the trustees and the executive team (referred to as the Directors Group). The total employee benefits of the key management personnel of the charity were £435,858 (2024 - £499,825). Expenses were reimbursed to 5(2024: 5) members of the Board of Trustees during the year. Their expenses amounted to £795 (2024: £131) in respect of expenses incurred as a trustee in attending board and related meetings, and £6,579 (2024: £19,157) in respect of expenses incurred for branch support and fees as practitioners or breastfeeding counsellors. No trustees were remunerated in the current or prior year. We are very grateful to our excellent volunteers. Given the absence of a reliable measurement basis, donated services from our volunteers are not included within the financial statements. FTES 2024 1.9 4.6 106.0 21.3 133.8 92 Notes Notes to the financial statements (continued) 10 Intangible fixed assets Group and charity Cost or valuation At 1 April 2024 Additions Disposals At 31 March 2025 Amortisation At 1 April 2024 Charge for period On disposals At 31 March 2025 Net book values At 31 March 2025 At 31 March 2024 Software £'000 128 128 Total 31 March £'000 128 128 128 128 11 Tangible fixed assets Group and charity Cost or valuation At 1 April 2024 Additions Disposals At 31 March 2025 Depreciation At 1 April 2024 Charge for period On disposals At 31 March 2025 Net book values At 31 March 2025 At 31 March 2024 Property E'000 1,504 (1,504) 267 30 (297) 1,237 Property relates to a leasehold building. This property was sold after the Balance Sheet date. Equipment £'000 262 - (165) 97 258 2 (165) 95 2 4 Total 31 March €'000 1,766 (1669) 97 525 32 (462) 2 1,241 93 Notes Notes to the financial statements (continued) 12 Fixed asset investments Group 2025 31 March Charity 2025 31 March Investment in group undertakings: NCT (Maternity Sales) Limited NCT Trading Limited NCT Publishing Limited First 1,000 Days Foundation Other investments: Managed investment funds 2024 31 March 2024 31 March : 4,007,427 4,007,427 3,996,678 3,996,678 4,007,427 4,007,535 3,996,678 3,996,786 )n 7 August 2013, the 'First 1,000 Days Foundation' was formed as a company limited by guarantee (registered in England and Wale 64816) with the sole member as The National Childbirth Trust. The Company has been dormant since incorporation. Investments i NCT (Maternity Sales) Limited, NCT Trading Limited and NCT Publishing Limited represent the entire called up share capital of the companies, all of which are incorporated in England. Registered Company Number Reserves at 31 March 2025 Investment in Group undertakings: NCT (Maternity Sales) Limited NCT Trading Limited NCT Publishing Limited First 1,000 Days Foundation 01291517 02488491 03017833 08641816 The registered office for all of the above companies is: 27 Old Gloucester Street, London, WCIN 3AX. 6 - - Managed investment funds Group and Charity Market value at 1 April 2024 Acquisitions Disposals Net investment gains/ (losses) Market value at 31 March 2025 2025 31 March 3,858 747 (692) 31 3,944 The Market value is represented by: Equities Bonds Cash held by investment managers Total Investment fund 3,337 607 3,944 64 4,008 Reserves at 31 March 2024 6 2024 31 March E'000 3,558 2,086 (2,016) 230 3,858 3,199 659 3,858 139 3,997 The charity's actively managed investment fund is revalued annually at the balance sheet date. The increase or decrease in value as a result of this valuation is recognised as an unrealised investment gain or loss. 94 Notes Notes to the financial statements (continued) 13 Debtors Group 2025 31 March £'000 2024 31 March £'000 Amounts due from subsidiary undertakings epayments and accrued incom -ade and branch debto 143 367 Charity 2025 31 March £'000 39 339 143 Other debtors 487 772 526 'Trade and branch debtors' includes Enil (2024: Enil) due in more that one year. 14 Creditors: amounts falling due within one year Expense creditors Social security and other taxes Deferred income Accruals Group 2025 31 March E'000 227 157 1,468 851 2,703 2024 31 March £'000 341 104 1,971 643 3,059 Charity 2025 31 March £'000 227 157 1,468 851 2,703 Movement in Deferred Income Group and Charity NCT Courses Programme Delivery Total for the Charity At 1 April 2024 €'000 1,724 245 1,969 Deferred £'000 1,256 212 1,468 Released £'00O (1,724) (245) (1,969) Commercial Fundraising Total for the Group 2 1,971 1,468 (2) (1,971) Deferred income relates to courses and contracts for services which have not been delivered at the balance sheet date. 2024 31 March £'000 21 400 364 2 3 790 2024 31 March E'000 341 104 1,969 636 3,050 At 31 March 2025 £'000 1,256 212 1,468 1,468 95 Notes Notes to the financial statements (continued) 15 Restricted funds The income funds of the charity and the group include restricted funds comprising the following unexpended balances of donations and grants held on trusts to be applied for specific purposes: Movements in Funds Group and Charity Grants and donations received by branches Newham Nurture Glasgow Service Delivery Birth and Beyond Community Service (BBCS) Parents In Mind Big Give - Infant Feeding Line LIDL Sports England Other At 1 April 2024 £'000 - 253 6 1 lur ... w 268 Incoming Resources Outgoing Resources 330 102 185 14 34 8 679 (348) (102) (179) (13) (2) - (18) (11) (673) Fund At 31 March Transfer 2025 £'000 E'O00 235 - 12 2 1 6 16 2 274 Movements in Funds Group and Charity Grants and donations received by branches Glasgow Service Delivery Birth and Beyond Community Support Newham Nurture Big Give LIDL Parents in Mind Antenatal At 1 April 2023 £'000 - 166 ~.. 28 196 Incoming Resources €'000 253 185 31 96 1 - 3 6 575 Outgoing Resources £'000 (166) (178) (31) (96) (3) (28) (1) (503) Fund At 31 March Transfer 2024 £'000 E'OOO : 253 7 : - : 5 268 Glasgow Service Delivery - Funding to enable us to provide a range of community and hospital breastfeeding peer support services across East Lothian and Glasgow BBCS - Funding to enable us to continue to provide Birth and Beyond Community Support to mothers who are at risk of isolation and not accessing services across Peterborough and Lincolnshire and extended into Wisbech and Fenland. Newham Nurture - Funding to enable us to coproduce a programme of support to pregnant women and new parents from low income, migrant and marginalised backgrounds experiencing financial hardship and disadvantage. Big Give - Funding to enable us to give extra resource to our Infant Feeding Line so that more parents can be supported during peak times. LIDL - Funding to enable us to support parents through the cost-of-living crisis by providing free-to-access services. NCT Parents in Mind - Funding to enable us to continue to provide NCT Parents in Mind our perinatal mental health peer support programme to families in need Antenatal - Funding to enable us to work with NHS hospitals to get their antenatal education up and running with in their trusts, ensuring families have free access to antenatal education. Sport England - Funding to enable us to develop our Walk & Talk activity across the United Kingdom. 96 Notes Notes to the financial statements (continued) 16 Unrestricted funds Group General Funds Fixed Assets Fund Charity General Funds Fixed Assets Fund Group General Funds Fixed Assets Fund Charity General Funds Fixed Assets Fund At 1 April 2024 E'000 3,092 1,241 4,333 At 1 April 2024 5'000 3,092 1,241 4,333 At 1 April 2023 £'000 3,122 1,270 4,392 At 1 April 2023 £'000 4,392 Incoming Resources £'000 10,447 10,447 Incoming Resources 2'000 10,447 10,447 Incoming Resources €'000 11,237 11,237 Incoming Resources £'O00 11,237 11,237 Unrealised Outgoing Investment Resources Gains/ (Losses) €'000 €'000 11,445 31 - 11,445 31 Unrealised Outgoing Investment Resources Gains/ (Losses) €'000 E'000 11,495 31 - 11,445 31 Unrealised Outgoing Investment Resources Gains/ (Losses) £'000 11,526 11,526 230 - 230 Unrealised Outgoing Investment Resources Gains/ (Losses) £'000 11,526 230 - 11,526 230 The transfer between funds represents the movement in the fixed asset balance during the year. Transfer Between Funds E'00O 1,481 (1,238) 243 Transfer Between Funds €'000 1,481 (1,238) 243 Transfer Between Funds 29 (29) Transfer Between Funds £'000R 29 (29) At 31 March 2025 €'000 3,606 3 3,609 At 31 March 2025 £'000 3,606 3 3,609 At 31 March 2024 £'000 3,092 1,241 4,333 At 31 March 2024 5:000 3,092 1,241 4,333 97 Notes Notes to the financial statements (continued) 17 Analysis of net assets between funds Fund balances at 31 March 2025 are represented by: Group Fixed assets Investment assets Net current assets / (liabilities) Total net assets Charity Fixed assets Investment assets Net current assets / (liabilities) Total net assets Group Fixed assets Investment assets Net current assets / (liabilities) Total net assets Charity Fixed assets Investment assets Net current assets / (liabilities) Total net assets Unrestricted Funds General Funds Fixed Asset Fund Restricted Funds £'000 £'000 €'000 4,008 (402) 3,606 3 274 Unrestricted Funds General Funds Fixed Asset Fund Restricted Funds £'000 £'000 £'000 4,008 (402) 3,606 .. W 3 274 Unrestricted Funds General Funds Fixed Asset Fund Restricted Funds £'000 £'000 £'000 1,241 3,997 (905) 3,092 : 1,241 268 268 Unrestricted Funds General Funds Fixed Asset Fund Restricted Funds €'000 £'000 3,997 (905) 3,092 1,241 : 1,241 268 268 2025 Total E'O0O 1,00฿ (128) 3,883 2025 Total E'OOO 4,008 (128) 3,883 2024 Total E'000 1,241 3,997 (637) 4,601 2024 Total £'000 1,241 3,997 (637) 4,601 98 Notes Notes to the financial statements (continued) 18 Taxation The National Childbirth Trust is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities. Each year subsidiary companies, which do not have charitable status, may Gift Aid any taxable profits to The National Childbirth Trust. The charity and group is not able to reclain all VAT suffered on expenditure due to the partial exemption regulations 19 Operating lease commitments At 31 March 2025 the group's future minimum operating lease payments were as follows: Group 2025 31 March €'000 2024 31 March £'000 Charity 2025 31 March Expire Within one year Between one and five years 11 18 29 11 18 6 29 20 Financial Instruments The financial statements include the following in respect of items held at fair value at the balance sheet date: Group 2025 31 March £'000 2024 31 March £'000 Charity 2025 31 March €'000 Financial assets measured at fair value through profit and loss 3,944 3,858 3,944 2024 31 March 5'000 2024 31 March £'000 3,858 21 Related party transactions NCT Trading Limited is a subsidiary of The National Childbirth Trust and its shares are 100% controlled within the group. During the year the National Childbirth Trust purchased services from NCT Trading of Enil (2024: Enil) on normal commercial terms. The National Childbirth Trust supplied services to NCT Trading of £10k (2024: £29k). At the 31 March 2025 NCT Trading Limited owed The National Childbirth Trust £39k (2024: £23k). No members of the Board of Trustees (2024: Nil) had a beneficial interest in contracts with the Charity. No member of the Board (2024: Nil) had a beneficial interest in a contract with a wholly owned subsidiary of The National Childbirth Trust during the period. At the date of signing the accounts, one (2024: one) trustee was also Director of NCT Trading Limited. There was one related party transaction in the year from the consultancy services provided by supplier Hello Brave with contract value of £43k. The founder of Hello Brave is the sister of Tope Medupin who is Director of Operations and a member of the Directors Group. The decision to appoint the supplier was made through a competitive process following the procurement procedures by the Directors Group with the Director of Operations removed from the group when the decision was made owing to the conflict of interest. There are no other related party transactions to disclose other than set out elsewhere in these accounts. 99 Notes Reference and administrative information Charity Registrations: The National Childbirth Trust (NCT) Company Registration: 2370573 (England & Wales) Registered Charity: 801395 Charity Registered in Scotland: SC041592 VAT: GB 115 0789 24 Registered Office: 27 Old Gloucester Street, London, WC1N 3AX Board of Trustees who are also directors under Company Law at the date of this report are: Charles Richardson (Honorary Treasurer) Joëlle Warren (Chair) Elaine Lambe Ema Ojiako (Honorary Secretary) Franciane Husbands-Chevot Julien Haye Mikayla Pencross Sarah Brown (Vice Chair) Sherry Bevan (President) Vikram Sundarraj Directors Group who are not directors for the purposes of Company Law at the date of this report are: Angela McConville, Chief Executive Chris Conway, Director of Finance Natasha Simpson, Director of People, Education and Inclusion Tope Medupin, Director of Operations Jessica Abelscroft, Interim Director of Marketing and Engagement Company Secretary Chris Conway Auditor: HaysMac LLP 10 Queen Street Place London ECAR 1AG Bankers: Lloyds Bank plc 39 Threadneedle Street London EC2R 8AU Cazenove Capital. 1 London Wall Place London EC2Y 5AU Investment Advisors: Rathbone Brothers PLC 8 Finsbury Circus London EC2M 7AZ Solicitors: Bates Wells & Braithwaite London LLP 10 Queen Street Place London ECAR 1BE Subsidiaries: NCT Trading Limited 100 des5408 nct © NCT is a trading name of The National Childbirth Trust. Limited company registered in England and Wales: 2370573. Registered address: 27 Old Gloucester Street, London WC1N ЗАХ. Registered charity in England and Wales: 801395 and Scotland: SC041592.