2024-12-31-accounts - The Private Physiotherapy Educational Foundation

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Company Number: 02652861

The Private Physiotherapy Educational Foundation Report and Financial Statements

31 December 2024

Charity Registration Number: 1005738

The Private Physiotherapy Educational Foundation

Contents of the Financial Statements

For the year ended 31 December 2024

	Page
Legal and administrative information	1
Report of the trustees	2-6
Report of the auditors	7-11
Statement of Financial Activities	12
Statement of Financial Position	13
Notes to the financial statements	14-18

The Private Physiotherapy Educational Foundation

Legal and administrative information

Trustees: K Lay (appointed as Chairman on 27 September 2024) M Whale - Treasurer G Jordan (resigned 26 June 2024) S Lewis S England A Green F Kitsell (resigned as Chairman on 27 September 2024) K Knapton (appointed 26 June 2024) A Walton (appointed 26 June 2024) Company secretary: F Kitsell Principal address and Registered Office: Jubilee House 32 Duncan Close Moulton Park Northampton NN3 6WL Company number: 02652861 (England and Wales) Charity registration number: 1005738 Bankers: HSBC plc 7 Commercial Street Halifax West Yorkshire HX1 1HN Investment managers: Newton Investment Management BNY Mellon Centre 160 Queen Victoria Street London EC4V 4LA Auditors: Hawsons Chartered Accountants Jubilee House 32 Duncan Close Moulton Park Northampton NN3 6WL

The Private Physiotherapy Educational Foundation

Report of the Trustees

For the year ended 31 December 2024

The Trustees present their report together with the financial statements of the charity for the year ended 31 December 2024.

Structure, governance and management

The Private Physiotherapy Educational Foundation (PPEF) was incorporated on 10 October 1991 as a Company limited by guarantee and is governed by its Memorandum and Articles of Association, as amended on 1 April 2017.
The Company was registered with the Charities Commission on 7 November 1991 as a charity.
The Company is limited by guarantee and does not have share capital. The Trustees therefore do not have an interest to declare.
Trustees are appointed at the Company’s Annual General Meeting.
The liability of the members is limited to £10 each in the event of the Company being wound up.

Objectives and activities

The Objectives are to advance education in the field of physiotherapy for the benefit of the public by:

The provision of education and training in physiotherapy to the public at large and in particular:
To physiotherapy patients to enable such patients to relieve or assist in relieving their own suffering.
To persons (professionally qualified or not) providing paid or voluntary care to any person in need of physiotherapy.
The promotion of research and dissemination to the public at large of the results of research in the field of physiotherapy.

We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our objectives and in planning future activities. In particular the Trustees consider how planned activities will contribute to the objectives they have set.

Achievement and Performance

1. Grants/Awards : The Private Physiotherapy Educational Foundation (PPEF) has been funding physiotherapy education and research projects since 2001. The Trustees regularly review its processes to ensure all awards made support the delivery of the objectives of the Foundation and to date have been able to use investment income to fund all awards, enabling the continued growth of the fund itself.

Currently three (3) regular types of awards are advertised and are described below:

1. Scheme A – these are for Research awards, and have maximum value of £30,000.

2. Scheme B – these are for individual scholarly activity, and have a maximum value of £3,000. The scholarly activity can be undertaking some relevant Postgraduate study, or to cover expenses to present work at a Conference.

3. Scheme C – these are for Innovation awards, and as such are broader in scope; they will often include elements of research and education. The maximum amount which can be applied for is set each time the award is advertised.

a) Regular Awards : During 2024 the Foundation made awards from one round of applications for Scheme B awards in the early part of the year, as well as making awards from one combined round of applications for Schemes A and C in the latter part of the year (with a cap of £30,000 being agreed by Trustees for the Scheme C applications). In addition, due to the ongoing challenge of securing external funding for the Data for Impact (DfI) project’s continued development, the Trustees agreed to consider a one-off application for a 2-year programme of work from the University of Keele, under its Scheme C process. A main purpose of the extension of the DfI programme is to link its work with other national data collection schemes, across all health-care sectors and settings, and use the data for research and education purposes. Table 1, below, lists all awards made during 2024

Table 1 – Awards made during 2024

	Main Applicant	Project Title	Scheme	Amount requested (£)
407	Christine Wolmarans	MSc Clinical management of pain	B	2,550.00
409	Maria Chawdi	MSc Physiotherapy studies: Paediatrics	B	3,000.00
410	Rebecca Jenner	MAES therapy foundation course (change of course)	B	3,000.00
411	Aimee Urquhart	Prescribing for Healthcare Practitioners module	B	1,090.00
412	Enza Leone	Present at 2024 Neuromuscular Study Group (NMSG) Annual Scientific Meeting	B	2,736.50
413	Josette Bettany -Saltikov	Present at International Research Society of spinal deformities scientific meeting June 2024	B	3,000.00
414	Dylan Powell	Present at Symposia with three other presenters at Physiotherapy UK 2024 in Manchester.	B	1,035.00
415	Crystal Reno	PG Certificate in Musculoskeletal Ultrasound	B	3,000.00
416	Aina-David Queen Kojusola Tolulope	MSc Physiotherapy Studies: Paediatrics	B	3,000.00

417	Matt Attwood	Present at the 7th IOC World Conference on Prevention of Injury and Illness in Sport	B	1,989.01
418	Jonathan Hill	Keele University - PPEF/PF Data for Impact (DfI). Two-year programme of work.	C	341,010.75 0
421	Ulrike Hammerbeck	Developing an Accessible, Cost- Effective Motion Analysis Tool for Arm Movement after Stroke	C	29,997.49
419	Kirsten Lord	Screening for Musculoskeletal (MSK) symptoms in a working population.	A	29,869.48
422	Crystal Reno	The effects of extracorporeal shockwave therapy as a treatment intervention for chronic adhesive capsulitis: a mixed methods pilot study.	A	10,447.94
425	Rebecca Smith	Developing a new vestibular outcome measure	A	28,148.01

b) Update on the Silver Jubilee Award (3-year programme, awarded in November 2023)

The programme of work outlined in the award ‘Defining and Translating best physiotherapy practice for common musculoskeletal conditions: a mixed-methods evidence translation programme’ is well underway. It is being led by Professor Dylan Morrissey and his team at Queen Mary University of London, in collaboration with partners at Essex, Canberra and Robert Gordon Universities, Barts Health NHS Trust and Pure Sports Medicine.

Key achievements to date are: The two appointed post-doctoral research fellows have begun work, with the first two Best Practice Guides being written, on a comprehensive programme of patient and public involvement, engagement and participation (PPIEP) begun for future Best Practice Guides, and the development of the communication and data management structures to deliver the project, and training for the PDRFs. The patellofemoral pain Best Practice Guide has been published in BJSM, which is considered to be the best journal in our field. This sets the scene for educational development and some publicity of the project.

2. Recruitment of PPEF Trustees: Five prospective Trustees were interviewed on Friday 26 April 2024 and Karen Lay and Andrew Walton were offered and accepted the roles. They were formally elected as Trustees at the AGM meeting in 2024 (they replace the vacancies left by Lin Connor and Gillian Jordan). Two further Trustees have announced their decision to stand down at the AGM in 2025, and so the Board of Trustees will be recruiting two new Trustees in the early part of 2025, with online interviews planned for 21 March 2025.

3. PPEF Membership: During the November 2024 meeting, the Board of Trustees reviewed the work to date on PPEF Membership, and agreed that further review of the role of members would be beneficial as part of a larger review of the work of the PPEF. It was agreed that once the newly appointed Trustees are established in their role – a

facilitated meeting will be held (in 2025/2026) to review the work of the PPEF Foundation, and plan for the future. This is likely to include: its programme of awards, its growth/spend strategy, the role of members etc. Review and planning meetings of this kind have typically been held by Trustees every five or so years, and with the appointment of new Trustees, it feels timely to arrange such in the next 12 months or so.

4. PPEF Website and Publicity: During 2024 the PPEF website has undergone some major rebuilding and updating, which now enables Award applications to be made online.

5. New Chair and Vice-Chair of the Board of Trustees: Fleur Kitsell announced her intention to step-down from her role as Chair of the Board of Trustees in 2024, along with Sandy Lewis in her role as Vice-Chair of the Board. Karen Lay was elected by Trustees to be the Chair of the Board, along with Ann Green as the Vice-Chair. Trustees followed their newly agreed processes for this change.

6. Key Plans for 2025:

I. Grants/Awards: A programme of regular awards will be advertised and decided during 2025, with the number of wards made being dependent on the quality of the applications and then funds available.
II. Trustee Recruitment : Recruit two new Trustees to replace vacancies which will be created by the two Trustees who will step down from their role at the AGM in 2025.
III. Review and plan work of Foundation: Implement a programme of work to review and plan the future work of the Foundation once the newly appointed Trustees are established in their role – a facilitated meeting will be held (in 2025/2026).

Financial Review

Reserve Policy

It is the trustees’ policy to retain the investment portfolio as an unrestricted reserve with a view to achieving long term growth in the charity’s financial resources. It is anticipated that this growth will yield additional income to support the development of the charitable objectives. The trustees will also seek to retain from the charity’s income a sum of between £10,000 and £20,000 to meet any unforeseen outgoings.

Risk Management

The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to mitigate our exposure to the major risks.

Statement of trustees’ responsibilities

The trustees (who are also directors of The Private Physiotherapy Educational Foundation for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. 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 2015 (FRS 102);
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation

The trustees are responsible for keeping adequate 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. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure of information to auditors

The trustees of the charity who held office at the date of the approval of this Annual Report as set out above each confirm that:

so far as they are aware, there is no relevant audit information (information needed by the charity's auditors in connection with preparing their report) of which the charity's auditors are unaware; and
the trustees have taken all steps that they ought to have taken to make themselves aware;
of any relevant audit information and to establish that the charity's auditors are aware of that information.

Auditors

The auditors, Hawsons Chartered Accountants, have indicated that they are willing to be reappointed at the forthcoming Annual General Meeting.

This report had been prepared in accordance with the small companies regime under the Companies Act 2006.

K Lay Chairman of the Board of Trustees The Private Physiotherapy Educational Foundation

19 May 2025

The Private Physiotherapy Educational Foundation

Report of the Independent Auditors

For the year ended 31 December 2024

OPINION TO THE TRUSTEES OF THE PRIVATE PHYSIOTHERAPY EDUCATIONAL FOUNDATION

We have audited the financial statements of The Private Physiotherapy Educational Foundation for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Statement of Financial Position and notes to the financial statements, including a summary of significant accounting policies. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

This report is made solely to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s trustees 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion the financial statements:

give a true and fair view of the state of the charitable company’s affairs as at 31 December 2024, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

The Private Physiotherapy Educational Foundation

Report of the Independent Auditors (continued)

For the year ended 31 December 2024

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 charity’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.

Other information

The other information comprises the information included in the trustees report, other than the financial statements and our auditors report thereon. The trustees are responsible for the other information. 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’ report, which includes 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 directors’ report included within the trustees’ report has been prepared in accordance with appliable legal requirements.

Matters on which we are required to report by exception

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

The Private Physiotherapy Educational Foundation

Report of the Independent Auditors (continued)

For the year ended 31 December 2024

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with
the small companies regime and take advantage of the small companies’ exemption in preparing the trustees’ report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 6, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditor’s responsibilities for the audit of the financial statements

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 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

The Private Physiotherapy Educational Foundation

Report of the Independent Auditors (continued)

For the year ended 31 December 2024

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

The charity is subject to laws and regulations that directly and indirectly affect the financial statements.

Based on our understanding of the charity and the environment it operates within, we determined that the laws and regulations which were most significant including the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011, GDPR and the Companies Act 2006. We considered the extent to which non-compliance with these laws and regulations might have a material effect on the financial statements, including how fraud might occur. 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 the posting of inappropriate journal entries to improve the charity’s result for the period, management bias in key accounting estimates, income recognition and the overriding of controls in place by management to perpetrate fraud.

Audit procedures performed by the engagement team included:

Discussions with management and those responsible for legal compliance procedures within the charity to obtain an understanding of the legal and regulatory framework applicable to the charity and how the charity complies with that framework, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;
Identifying and assessing the design effectiveness of controls that management has in place to prevent and detect fraud and non-compliance with laws and regulations, as well as ensuring that grants are being awarded exclusively for charitable purposes;
Challenging assumptions and judgements made by management in their significant accounting estimates;
Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations;
Verifying investment income back to source documentation to ensure the completeness of dividend income. Agreeing the investment valuations at the Statement of Financial Position date to the underlying valuation reports;
Reviewing the minutes of trustees’ meetings.

There are inherent limitations in the audit procedures described above and the more removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. Also, the risk of not detecting

The Private Physiotherapy Educational Foundation

Report of the Independent Auditors (continued)

For the year ended 31 December 2024

A material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members and its trustees 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 and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Will Amos Senior Statutory Auditor For and on behalf of: Hawsons Chartered Accountants Statutory Auditor Jubilee House 32 Duncan Close Moulton Park Northampton NN3 6WL

25 June 2025

The Private Physiotherapy Educational Foundation

Statement of Financial Activities

For the year ended 31 December 2024

		Unrestricted	Unrestricted
	Notes	Funds 2024	Funds 2023
		£	£
Income:
Investment income	2	206,518	209,944
		__	__
Total income		206,518	209,994
		__	__
Expenditure:
Expenditure on charitable activities	4	474,075	511,910
Cost of raising funds	4	21,275	22,627
		__	__
Total expenditure		495,350	534,537
		__	__
Net expenditure before gains on investment		(288,832)	(324,543)
Net gain on investments	7	641,993	502,051
		__	__
Net movement in funds for the year		353,161	177,508
Total funds brought forward		8,724,060	8,546,552
		__	__
Total funds carried forward	10	9,077,221	8,724,060
		=======	=======

There are no restricted funds at 31 December 2024 (2023 - £nil).

The Private Physiotherapy Educational Foundation

Statement of Financial Position

As at 31 December 2024

	Registration	number: 02652861	number: 02652861
	Notes	2024	2023
		£	£
Fixed assets
Investments	7	9,652,770	9,010,777
		__	__
Total fixed assets		9,652,770	9,010,777
Current assets
Cash at bank and in hand		407,016	299,767
		__	__
Total current assets		407,016	299,767
Liabilities
Creditors falling due within one year	8	(683,286)	(247,368)
		__	__
Net current (liabilities)/assets		(276,270)	52,399
Creditors falling due after one year	8	(299,279)	(339,116)
		__	__
Net assets	9	9,077,221	8,724,060
		=======	=======
The funds of the charity:
Unrestricted income funds	10	9,077,221	8,724,060
		__	__
		9,077,221	8,724,060
		=======	=======

These annual accounts and reports have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.

The financial statements were approved on 21 May 2025 by the Trustees and signed on their behalf by:

Treasurer

M Whale

The Private Physiotherapy Educational Foundation

Notes to the Financial Statements

For the year ended 31 December 2024

1. ACCOUNTING POLICIES

a) Accounting convention

The financial statements have been prepared under the historic cost convention, with the exception of any investments which are included at market value. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The principal accounting policies adopted in the preparation of the financial statements are as follows:

b) Going concern

After due consideration of all relevant factors, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the trustees' report and accounts.

c) Income

Donations – Income from donations is credited as income when receivable.

Interest – Interest is included when receivable by the charity.

Investment income - Investment income is accounted for in the period in which the charity is entitled to receipt.

d) Expenditure

Resources are included in the Statement of Financial Activities (SOFA) on an accruals basis inclusive of irrecoverable VAT. Grants are charged to the Statement of Financial Activities when a constructive obligation exists, notwithstanding that they may be paid in future periods. Governance costs comprise all costs incurred in the general running of the charity.

Support costs, which include general management, budgeting and accounting and financing are allocated across the categories of expenditure on charitable activities and costs of generating funds. The basis of allocation has been illustrated in note 4 to the accounts.

The Private Physiotherapy Educational Foundation

Notes to the Financial Statements (continued)

For the year ended 31 December 2024

e) Funds accounting

Funds held by the charity are unrestricted general funds which can be used in accordance with the charitable objects at the discretion of the trustees.

f) Investments

Investments are stated at market value at the Statement of Financial Position date. The SOFA includes the net gains and losses arising on the revaluations and disposals throughout the year.

g) Taxation

The registered charity is exempt from UK taxation under S505 ICTA 1988.

2. Investment Income

		2024	2023
		£	£
	Dividends – Newton Global Growth & Income Fund	206,518	209,994
		__	__
		206,518	209,994
		=======	=======
3.	Analysis of expenditure on charitable activities
	Charitable activities expenditure comprises grants to:
		2024	2023
		£	£
	Physio First (see note 11)	351,480	-
	Grants to individuals	122,595	511,910
		__	__
		474,075	511,910
		=======	=======

The Private Physiotherapy Educational Foundation

Notes to the Financial Statements (continued)

For the year ended 31 December 2024

----- Start of picture text -----
4 Analysis of expenditure
Direct Support Total Total
costs costs 2024 2023
£ £ £ £
Expenditure on charitable activities
- -
Physio First 351,480 351,480
Grants to individuals 122,595 - 122,595 511,910
474,075 - 474,075 511,910
Cost of raising funds
Travel and subsistence - 2,588 2,588 1,354
-
Audit and accountancy 4,262 4,262 3,582
- -
Legal and professional fees 1,020 1,020
-
Management charges 6,374 6,374 8,932
Sundries - 7,031 7,031 8,759
- 21,275 21,275 22,627
Total expenditure 474,075 21,275 495,350 534,537
Analysed support costs consist of the following:
Management costs 15,993 19,045
Administration costs 5,282 3,582
21,275 22,627
This is stated after charging:
Auditor's remuneration 5,282 3,582
----- End of picture text -----

5. Analysis of trustee remuneration and expenses

The trustees received no remuneration. Expenses reimbursed amounted to £2,588 (2023 - £1,354) in respect of travel and subsistence and general administration expenses.

6. Staff numbers

At no time during the current or prior year were any full or part-time staff employed by the charity.

The Private Physiotherapy Educational Foundation

Notes to the Financial Statements (continued)

For the year ended 31 December 2024

7. Investments at Market Value

		Quoted	Quoted
		Unrestricted	Unrestricted
		2024	2023
		£	£
	Market value at 1 January 2024	9,010,777	8,508,726
	Net gains on revaluation	641,993	502,051
		__	__
	Market value at 31 December 2024	9,652,770	9,010,777
		=======	=======
8.	Current liabilities
		2024	2023
		£	£
	Unpaid grants	679,786	244,368
	Accruals – Legal & Professional	3,500	3,000
		_	_
		683,286	247,368
		======	======
	Non-current liabilities
		2024	2023
		£	£
	Unpaid grants	299,279	339,116
		_	_
		299,279	339,116
		======	======
9.	Analysis of charitable funds
	Analysis of movements in unrestricted funds
		2024	2023
		£	£
	Opening members’ Unrestricted Funds	8,724,060	8,546,552
	Movement in total funds for the year	353,161	177,508
		___	___
	Closing members’ Unrestricted Funds	9,077,221	8,724,060
		========	========

All net assets are held under the General Unrestricted Fund.

The Private Physiotherapy Educational Foundation

Notes to the Financial Statements (continued)

For the year ended 31 December 2024

10. Analysis of net assets between funds

----- Start of picture text -----
General Restricted Total
Funds Funds Funds
2024 2024 2024
£ £ £
Non-current assets 9,652,770 - 9,652,770
Current assets 407,016 - 407,016
Non-current liabilities (299,279) - (299,279)
Current liabilities (683,286) - (683,286)
-
9,077,221 9,077,221
General Restricted Total
Funds Funds Funds
2023 2023 2023
£ £ £
Non-current assets 9,010,777 - 9,010,777
Current assets 299,767 - 299,767
Non-current liabilities (339,116) - (339,116)
Current liabilities (247,368) - (247,368)
-
8,724,060 8,724,060
----- End of picture text -----

11. Related Party Transactions

The Private Physiotherapy Educational Foundation works closely with Physio First, a non-profit making organisation and also has a broader remit, as described by its Articles of Association.

Charitable activities expenditure includes £351,480 (2023 - £nil) awarded to Physio First in respect of approved projects.

At the Statement of Financial Position date £341,011 (2023 - £4,433) was owed to Physio First in respect of approved projects.

Cost of raising funds includes £6,374 (2023 - £8,932) of recharges from Physio First.

At the Statement of Financial Position date £nil (2023 - £nil) was owed to Physio First in respect these recharges.