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2021-03-31-accounts

Report and accounts

1 April 2020 – 31 March 2021

Company Number: 03090774 Charity Number: 1048816

educationforhealth.org

1

Contents Page
In Memoria 2
Message from the Chairman 3
Trustees Report
2020/21 A Year in View 4
Objectives and Activities 5
Achievements and Performance 7
Structure and Board 12
Statement of Trustee Responsibilities 14
Auditors Report 15
Financial Statements 19
Trustees,Officers and advisors 46

In Memoria

Everyone at Education for Health wishes to note the contribution of Professor Ursula Gallagher who sadly died on the 25[th] of July 2021.

We miss our erudite friend who served Education for Health for several terms as trustee and lately as Chair of the Board

Ursula was an excellent servant of the charity and her contribution was immense. As a former professor of nursing she had a passion for seeing good care for those who need it. She saw education as key to equipping healthcare professionals for their work and tirelessly supported the work of Education for Health.

She had a keen strategic mind and served with commitment, humour and a kind pastoral touch as she interacted with the staff, board and at times students.

We celebrate her and thankfully acknowledge her service to healthcare and to Education for Health.

2

Message from our Chairman

Education for Health Chair’s Report 2020-21

History will view the year from March 2020 as one of the most remarkable in the 21st century with the COVID 19 pandemic impacting all aspects of life nationally and globally. For Education for Health it was no different and the year has required the best from our team. They have delivered and it has been a pleasure to witness their achievements and now to report on them.

At the end of such a remarkable year, it seems an appropriate time to reflect on the challenges, changes and success that have taken place at Education for Health. Led by Linda Edwards the whole team undertook the radical operational changes that were necessary to navigate the period when traditional face to face education and training ceased and yet was needed. Staff contributed to effort and indeed to the welfare of Education for Health; some accepting furlough with others delivering a mammoth effort to morph our courses to online offerings. We note the contribution of all staff and thank them for their endeavours.

What has been achieved is remarkable with courses now available via a new learning platform, presented and accessed through a new website meaning that the vital training we can offer is maintained. This together with our new portfolio of Postgraduate certificates and Diplomas in addition to the Master’s degree via Hertfordshire University means we have offerings to meet the needs of healthcare professionals as remobilisation following Covid begins

We have welcomed new members to both the Executive Team and Board of Trustees; and after many years on the Board, Professor Ursula Gallagher has stepped down as Co-Chairman. Her commitment to Education for Health was exemplary just as it was in her professional life lately with Care Quality Commission and we are delighted to note she was recently awarded an MBE. We thank her for her tireless dedication and service.

The pandemic has brought many changes to the world of healthcare – healthcare professionals found themselves working even longer hours than before, NHS training budgets were paused and the pharmaceutical industry was focused on vaccines. Yet, with many healthcare professionals being diverted from their usual specialities into urgent and acute respiratory care, the need for education and training felt more important than ever. A new delivery model was created, enabling people to access learning at a time and pace that suited them while maintaining the interactivity we know so many find essential to their learning. Post lockdown Education for Health is in an entirely different place than before. New courses and support resources have been created and the organisation restructured.

There is still much to do, but great strides have been made to futureproof the organisation and ensure it is able to best meet the training and education needs of healthcare professionals. We continue to be grateful to all those involved in the success of the organisation – staff, our associates, volunteers and partner organisations. Due to the hard work, dedication and support of these individuals, Education for Health continues to progress.

Dr Robert Angus, Chairman

March 2021

3

2020-21 A year in view: activities, achievements and impact

OUR YEAR AT A GLANCE

114 Courses delivered

1,800 Healthcare professionals completed our courses

2,350 People accessed free eLearning

£169,785 Bursaries awarded to students

Our people

The Chief Executive, Dr Linda Edwards, is supported by Deputy Chief Executive/Director of Learning Operations and Finance, Becky Harkcom; Director of Innovations, Stephen Ryan; Associate Director of Strategic Partnerships, Adam Smith; Director of Learning Design and Quality, Ann Saxon and since November 2020, Sarah Brighton, Associate Director of the Marketing and Intelligence Hub.

The organisation is configured into specialist teams; Learning Design & Quality, Partnerships, Finance, Business Systems & Technology, Data, Learning Operational Support, Marketing, Intelligence and Communications and Finance.

We also continue to value the ongoing contribution volunteers add to our activities. During this period, we have been supported by a volunteer who has completed a project within our HR department as part of her masters at Coventry University.

4

Objectives and Activities: vision, purpose, objects and aims

Why we exist How we achieve our
objects
Our Vision is a world where people with Long Term
Conditions have access to the help and support they need to
live healthy and fulfilling lives.
The Charity’s objects are:
1. To promote the health and wellbeing of the general public
through the provision of education to those who can influence
others, including patients and the public, in such areas as the
trustees of the Charity may at their absolute discretion from time to
time determine;
2. For the public benefit, to relieve sickness through the promotion
of preventative measures, and the provision of excellence in care,
treatment and management of disease, and the carrying out of
research into such diseases as the trustees of the Charity may at
their absolute discretion from time to time determine;
3. The furtherance and pursuance of charitable purposes which are
exclusively charitable according to the laws of England and Wales as
the trustees of the Charity may at their absolute discretion from
time to time determine.		 The Trustees confirm that they have
referred to the Charity Commissions
general guidance on public benefit
when
reviewing
the
aims
and
objectives of the charity and in
planning future activities for the year.
Our 4 strategic aims:
1. Strengthen our profile in
the provision of high quality
support, education and
training for health care
professionals across a range of
LTCs
2. Demonstrate the impact
educating healthcare
professionals can have on
health outcomes
3. Create an organisation that
inspires and encourages
innovation and creativity
4. Be a financially strong,
flexible and dynamic
organisation

5

Overview of our Activities, Achievements and Impact

What we intended to do in 2020/21

What we did in 2020/21

The pandemic affected the way in which we deliver education and training and support to our learners, including a focus on online learning.

6

Achievements and Performance

Financial Performance Summary

£’000 Income Expenditure Operating
result		 Net
Exceptional
income
2019/20 and
government
grant 2020/21		 Investment
gains/(losses)		 Net Movement
2020/21 989 (1,662) (673) 149 405 (119)
2019/20 1,799 (2,344) (545) 361 (269) (453)
Movement (810) 682 (128) (212) 674 334
(45%) 29% (23%)

Financial Results for the year

Income for the year of £989k (excluding government grant) is 45% lower than in the previous year, which is a direct result of the impact of Covid-19 leading to a change in healthcare professionals training needs. In addition to responding to these needs and offering support to front line healthcare professionals we have responded to the challenging external environment by reducing the costs of our business model. This has led to a 29% reduction in operating expenditure compared to the same period last year. These changes to our business model will drive the charity’s sustainability. Education for Health has benefitted from receiving £149k from the Government’s Job Retention Scheme between April 2020 and September 2021 during which time some staff were furloughed. Investments that had fallen in value at the end of 2019/20 recovered during 2020/21 resulting in a gain of £405k from realised and unrealised investment gains.

7

Designated Reserves

Our £0.76m designated reserves are made up of:

Reserves policy

As part of the 2020/21 budget setting process, our Finance, Audit and Risk Committee reviewed Education for Health's Reserves Policy. It was confirmed that the policy agreed previously was still valid and that Education for Health maintained free reserves:

As a result, a target free reserve of £1m was agreed.

At 31 March 2021, unrestricted free reserves of the group, excluding designated reserves, amounted to £0.98m, calculated as follows:-

Total funds
Less restricted funds
Less designated reserve
Free reserves		 Group
£’000
1,745
(3)
(761)		 Group
£’000
1,745
(3)
(761)
981

8

Looking Forward

As a result of Covid -19 Education for Health has adapted its strategy to meet the changing needs of healthcare professionals:

Thus our business goals for 2021-2023 are:

  1. Grow our market share:

Our focus is to raise the awareness of the breadth of experience of Education for Health and its applications to all healthcare professionals, to support NHS priorities including disease prevention, mental health, obesity and diabetes.

  1. Build multiple income streams

The majority of our sales comes from direct sales through our website or partnerships with commissioners. We have now developed a subscription model to enable access and discussion in specialist areas. A further income stream will be created in 2021 with the launch of our Primary Care Profiling tools.

  1. Deliver professional, high quality supported learning

  2. A quality assurance project will be completed in 2021 allowing quality measures to be embedded within our learning material and support services.

  3. Stay ahead of the competition

  4. The creation of a marketing intelligence library will help enable our unique offerings to stay ahead of the competition.

  5. Improving Health Outcomes

  6. Our newly developed primary care profiling tools are designed to enable practices to target the people most in need.

Going Concern

The impact of Covid-19 as a global pandemic, has been significant, and has resulted in uncertainty within the wider environment. As a health charity whose history and expertise lies in respiratory disease, our response was to develop resources to support front line workers. We have therefore launched new products, with the support of sponsorship from our partners, most notably respiratory factsheets, an online respiratory failure toolkit, and online refresher workshops. To comply with government regulations our face-to-face training was transferred to interactive online blended learning. This enabled our learners to continue or start studying in the safety of their own environment.

The Trustees continue to closely monitor the financial position of the charity. Increased weekly cash flow updates have allowed tight control of our working capital. Cash has been maximised and remains stable by:

9

In response to the changes in our products, our sales started to recover in June 2020 with September and October exceeding the previous year’s levels, the impact of the second lockdown on our trading was markedly less severe than the first. The roll out of the vaccination programme and NHS staff being encouraged to take much needed annual leave is causing people to postpone any learning which has a direct impact on income.

In May 2021 the Board of Trustees approved a 2-year budget which reflects the changes to our business model and expectations regarding the ongoing impact of Covid -19 during 2021. The budget forecasts that a a break-even position will result in 2022/23 reflecting a small increase in sales of our core products, through a new marketing strategy, updated design and improved quality and the development of new products through our newly established Learning Academy and Specialist Units.

The forecast loss of £120k in 2021/22 will be supported by our investments.

The response to the bursaries we have been able to offer, with the support of our partners from Industry, have served to underline the need for the learning opportunities offered by Education for Health, which the Trustees remain confident will continue to grow to support the long term impact of Covid-19.

With our revised business model and business plans in place, the Board has reviewed the financial sustainability of the group and are of the opinion that Education for Health will continue to have adequate resources and is a going concern.

Investment policy and performance

Education for Health seeks to produce the best financial return within an acceptable level of risk. On behalf of the Board, the Finance, Audit and Risk Committee monitors the activities and performance of the investment managers (UBS), who were appointed in 2008. Our investment policy states:-

10

The Charity monitors investment performances against predetermined criteria and benchmarks. The unforeseen impact of COVID 19 has created some uncertainty within the global markets, however, they have recovered strongly after the fall in valuation in early 2020, this resulted in unrealised gains in the year of £255k (2019/20 loss for the year £293k). Realised gains of £150k were secured in the year compared with £23k in 2019/20. Investment income of £75k (2019/20 £87k) was received.

Risk

Education for Health has defined its strategic risks as those matters which could inhibit the achievement of our charitable objects.

A dynamic process is in place that allows the Board, Senior Leadership Team and all staff to identify events or actions, which may adversely affect the achievement of our strategy.

Once identified, appropriate systems and procedures are put in place to mitigate the risks. The Senior Leadership Team, which equates to our Executive Team, reviews the risks regularly, whilst the Board reviews the risk register at Finance, Audit and Risk Committee and Board Meetings in order to monitor progress made in mitigating the risks.

The major risks identified relate to the long term financial sustainability of the charity:

  1. Dependency on a limited number of income sources

  2. Ability of reserves to support the charity in the long term

  3. Increased risk from cyber security attacks

  4. The uncertainty around current trading conditions, due to the pandemic.

We are working closely with third party advisers to minimise the risk of security attacks and to ensure their impact is reduced, should it happen.

We continue to closely monitor the market needs to ensure we are able to provide a flexible response to the currently unknown future conditions.

The Board of Trustees is satisfied that reasonable steps are being taken to limit the probability and impact of these risks.

11

Structure and Board

Education for Health is a Company Limited by Guarantee and a Charity registered with the Charity Commission. The Charity is regulated by its Memorandum and Articles of Association adopted on 30 July 1995 and last amended on 27 September 2016.

The Board of Trustees (who are also Directors) are responsible for the overall governance of the Charity. The Articles specify that there are to be a minimum of five Trustees but no maximum is specified. Trustees are expected to attend a Strategic Planning Day each year where, with the Executive Team, the long-term aims of the Charity are developed. In addition to the Annual General Meeting, the Board meets four times per annum when Trustees review the Charity’s performance, future operating plans and budgets. Extraordinary Board Meetings are also held as required. Meetings are sometimes convened via a teleconference call, to enable wider participation. The Board, Chief Executive and Senior Leadership Team are also involved in a joint annual strategic planning event.

There are two formal sub-committees of the Board of Trustees which are accountable to the Board; the Finance, Audit and Risk Committee and the Nominations Committee. Each committee has its own Terms of Reference and reports to the full Board.

The purpose of the Nominations Committee is:-

Board Induction

The appointment of new Trustees follows advertisements placed with specialist bodies and stakeholders. Applicants are shortlisted against agreed criteria and interviews carried out by a representative panel of Trustees of the Charity. The preferred candidate is invited to join the Board subject to approval by the full Trustee Board and formal vetting. New Trustees are offered an induction and encouraged to become involved in the Charity’s activities and sub-committees.

Management

The Board delegates the power in connection with the day-to-day management and administration of the Charity to the Chief Executive. Performance and risk is measured against strategic objectives, with regular reporting to the Board, so that decisions made under delegated power can be ratified by the full Board. The Chief Executive is responsible for the day-to-day management of the Charity's affairs and for implementing policies agreed by the Board.

12

Remuneration

The remuneration and rewards policy aims to pay all staff fairly and in a way that ensures we attract and retain the right skills to have the greatest impact on delivering the Charity’s objectives. The Board of Trustees determines the salary of the Chief Executive. The Chief Executive recommends salary increases for the Senior Leadership team of the Charity for Board approval. Pay awards are made after taking into account Retail Price Index, the performance of the Charity and the extent to which its objectives have been achieved, and the contribution of the individual to achieving the Charity’s objectives, which is measured through the annual appraisal process. All salaries are benchmarked against comparable roles in similar sectors.

For other staff, the Board of Trustees have delegated responsibility to the Internal Remuneration Committee to:-

Purpose of the Finance, Risk and Audit Committee is to support Trustees in meeting their responsibilities for risk management, internal controls and efficient and effective use of funds.

The Charity has the following subsidiaries:- Education for Health Trading Limited (100% owned), National Respiratory Training Centre Limited (100% owned) dormant since its incorporation, and Respiratory Education UK (100% owned). All subsidiaries were dormant during 2020/21.

We have two Patrons. Mrs Greta Barnes MBE, the Founder of our Charity, and Baroness Julia Cumberlege CBE, DL.

13

Trustees’ Responsibilities

The Trustees (also Directors of Education for Health 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).

Company law requires the Trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charitable company and the Group and of the incoming resources and application of resources, including the income and expenditure, of the Group for that period. In preparing these financial statements, the Trustees are required to:-

  1. Select suitable accounting policies and then apply them consistently

  2. Observe the methods and principles in the Charities SORP

  3. Make judgements and estimates that are reasonable and prudent

  4. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity 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 Charity and the Group 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 Charity and the Group and, hence, taking reasonable steps for the prevention and detection of fraud and other irregularities.

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

Auditors

The Directors resolved that RSM UK Audit LLP be re-appointed as auditors. RSM UK Audit LLP has indicated its willingness to continue in office.

Statement as to the Disclosure of Information to Auditors

The Directors who were in office on the date of approval of these financial statements have confirmed, as far as they are aware, that there is no relevant audit information of which the Auditors are unaware. Each of the Directors has confirmed that they have taken all the steps that they ought to have taken as Directors in order to make themselves aware of any relevant audit information and to establish that it has been communicated to the Auditors.

Approved by the Board on 27 July 2021 and signed on its behalf by:-

Robert Angus, Director/Chairman, the Board of Trustees

14

Independent Auditor’s Report to the Members of Education for Health

Opinion

We have audited the financial statements of Education for Health (the ‘charitable company’) for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’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 Annual Report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

15

Independent Auditor’s Report to the Members of Education for Health (continued)

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

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 or the Strategic Report included within the Trustees’ Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ responsibilities set out on page 14, 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.

16

Independent Auditor’s Report to the Members of Education for Health (continued)

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.

The extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charities SORP (FRS 102), Companies Act 2006, Charities Act 2011, the charitable company’s governing document, tax legislation and Charities (Protection and Social Investment) Act 2016. We performed audit procedures to detect noncompliances which may have a material impact on the financial statements which included reviewing the financial statements including the Trustees’ Report, remaining alert to new or unusual transactions which may not be in accordance with the governing documents, inspecting correspondence with local tax authorities and evaluating advice received from internal/external advisors.

17

Independent Auditor’s Report to the Members of Education for Health (continued)

The audit engagement team identified the risk of management override of controls as the area where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments, evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business, challenging judgments and estimates.

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

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. 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.

Paul Oxtoby (Senior Statutory Auditor) For and on behalf of RSM UK AUDIT LLP, Statutory Auditor Chartered Accountants St Philips Point Temple Row Birmingham B2 5AF

Date 3 August 2021

18

Consolidated Statement of Financial Activities

(including Consolidated Income and Expenditure Account) for the period ended 31 March 2021

Income and
Endowments from:
Donations and legacies
Charitable activities
Other trading activities
Surplus on disposal of
assets
Government grants
Investments
Total Income
Expenditure on:
Raising funds
Charitable activities
Exceptional charitable
activities
Total Expenditure
Net gains (losses) on
investments
Net Movement in Funds
for the Year
Reconciliation of Funds:
Total funds
brought forward
Total Funds
Carried Forward		 Notes
4
5
6
38
34
7
11
12
38
23		 Unrestricted
Fund
£
-
864,130
26,361
-
148,679
75,229
1,114,399
27,282
1,614,716
-
1,641,998
405,038
(122,561)
1,864,809
1,742,248		 Restricted
Fund
£
22,978
-
-
-
-
-
22,978
-
20,106
-
20,106
-
2,872
-
2,872		 12 months to
31/3/2021
Total
£
22,978
864,130
26,361
-
148,679
75,229
1,137,377
27,282
1,634,822
-
1,662,104
405,038
(119,689)
1,864,809
1,745,120		 12 months to 12 months to 12 months to
31/3/2020
Total
£
3,505
1,695,023
15,182
457,152
-
85,638
2,256,500
21,802
2,322,655
95,707
2,440,164
(269,318)
(452,982)
2,317,791
1,864,809		 Total

The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. All activity in the year was unrestricted.

19

Company Number 03090774

Balance Sheets at 31 March 2021


Fixed Assets:
Intangible assets
Tangible assets
Investment assets
Total Fixed Assets
Current Assets:
Debtors and prepayments
Cash at bank and in hand
Total Current Assets
Liabilities:
Creditors falling due within one year
Fees received in advance
Net Current Liabilities
Total Assets less Current Liabilities
Net Assets
The Funds of the Charity:
Restricted Funds
Unrestricted funds
Total Charity Funds		 Notes
22
21
23


24
33


25
26





28
27
 Group
31/03/2021
£
46,632
119,427
2,844,524

3,010,583

210,969
331,896

542,865

1,024,131
784,197

1,808,328

(1,265,463)

1,745,120

1,745,120

2,872
1,742,248

1,745,120		 Group
31/03/2020
£
19,985
156,497
2,565,227

2,741,709

277,703
326,282

603,985

800,226
680,659

1,480,885

(876,900)

1,864,809

1,864,809

-
1,864,809

1,864,809		 Charity
31/03/2021
£
46,632
119,427
2,844,526

3,010,585

211,112
331,802

542,914

1,024,131
784,197

1,808,328

(1,265,414)

1,745,171

1,745,171

2,872
1,742,299

1,745,171		 Charity
31/03/2020
£
19,985
156,497
2,565,229

2,741,711

277,846
326,188

604,034

800,226
680,659

1,480,885

(876,851)

1,864,860

1,864,860

-
1,864,860

1,864,860


















Total Charity Funds

The notes on pages 22 to 45 form part of these accounts.

Signed by Robert Angus, Chairman of Trustees on behalf of the Trustees Approved by the Trustees and authorised for issue on 27 July 2021

20

Company Number 03090774 Consolidated Statement of Cash Flows

for the period ended 31 March 2021

Cash Flows from Operating Activities:
Net cash used in operating activities
Cash Flows from Investing Activities:
Dividends and interest from investments
Purchase of tangible fixed assets
Purchase of intangible fixed assets
Proceeds from sale of fixed assets
Proceeds from sale of investments
Purchase of investments
Cash generated/(used in) provided by Investing Activities
Increase/(decrease) in Cash and Cash Equivalents in the
year
Cash and cash equivalents at the beginning of the year
Total Cash and Cash Equivalents at the End of the Year		 Notes
32
33		 Group
12 Months to

31/03/2021
£
(156,988)

75,229
-
(38,368)
-
1,283,136

(1,157,395)

162,602

5,614
326,282

331,896		 Group
12 Months to
31/03/2020
£
(913,438)
85,638
(164,903)
(13,141)
1,111,139
2,195,183
(2,093,044)
1,120,872
207,434
118,848
326,282

21

Notes to the Financial Statements

1. Accounting Policies-

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:-

a) Basis of Accounting

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.

Education for Health meets the definition of a public benefit entity under the Charities Act, assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The financial statements are prepared in Sterling which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £, unless otherwise stated.

b) Preparation of the Accounts on a Going Concern Basis

The Charity has prepared detailed forecasts of both income and expenditure and cash on a Group basis. Reserves of the Group currently stand at £1,745k (31 March 2020: £1,865k). Having considered these documents together with risk and reserves policy the Trustees are of the view that the Charity is a going concern. The reserves are represented by investment assets of £2,845k (31 March 2020: £2,565k), cash of £332k (31 March 2020: £326k) and liabilities of £1,808k (31 March 2020: £1,481).

Taking into account the impact of the COVID-19 pandemic the Trustees have modelled forecasts that show that the charity can absorb deficits within available working capital and without any material recourse either to the investment portfolio or to external debt. Based on this, the Trustees consider that adequate resources exist to continue in operational existence for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.

c) Group Financial Statements

The financial statements consolidate the results of the Charity and its wholly owned subsidiaries on a line-by-line basis. A separate Statement of Financial Activities and Income and Expenditure Account for the Charity has not been presented because the Charity has taken advantage of the exemption afforded by Section 408 of the Companies Act 2006. The Charity has also taken advantage of the exemption available under FRS 102 and has not presented a statement of cash flows for the parent.

22

d) Fund Accounting

The general fund consists of the accumulated surpluses on the consolidated statement of financial activities, less any funds designated by the Directors for specific purposes.

Designated funds are funds which have been set aside by the Directors for specific purposes. The purpose of the designated funds is set out in the notes to the accounts.

Restricted funds are funds for which the donor has specifically restricted the purpose for which they can be used. The balance in the fund represents the amount still remaining for future expenditure.

e) Fixed Assets and Depreciation

Fixed assets are stated at cost less accumulated depreciation. The cost of minor additions to fixed assets, defined as those costing less than £85 each, is expensed in the year in which the cost is incurred.

Depreciation is provided to write off the cost of assets by equal instalments over their estimated useful lives as follows:-

Equipment, furniture, fixtures and fittings - 5-20 years Laptops - 3 years Other Computer equipment - 5 years Short leasehold property improvements - over lease term

f) Investments

Listed investments are included in the accounts at fair value. Gains or losses on revaluation are recognised in the SOFA and credited or debited to the relevant funds.

Investments in subsidiaries are stated at cost.

g) Investment income

Dividends are credited to the SOFA when receivable.

Interest on cash held is accrued on a daily basis and is credited on this basis to the SOFA.

h) Government Grant

The Government grant received are included in the SOFA when legally entitled to the income and there is reasonable assurance all conditions are met.

i) Pension costs

The Charity operates defined contribution schemes available to all of its employees. The schemes’ funds are administered by Trustees and are independent of the Charity's finances. The Charity's contributions to the schemes are charged in the accounts as they accrue.

23

j) Income

All incoming resources are included in the SOFA when the Charity is legally entitled to the income. Course fee income is recognised and included in the SOFA for the financial year in proportion to the total fee by a measure of the course length elapsed and value of services delivered by time and materials.

k) Expenditure and Irrecoverable VAT

All resources expended are accounted for on an accruals basis. Costs are classified under headings that aggregate all similar costs and which can then be related to costs of raising funds and charitable activities.

Costs of raising funds are primarily investment management fees and other expenses incurred in trading activities that raise funds.

Charitable activities expenditure primarily includes costs associated with educational activity, books and resources and research activity. They include both direct and support costs relating to these activities.

Support costs are those functions that assist the work of the Charity but do not directly undertake charitable activities.

Support costs include central functions and governance costs and have been allocated to activity cost categories on a basis consistent with the use of resources by activities irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

l) Research

Expenditure on research is written off as incurred, other than when there is a defined project with certain income.

m) Operating Leases

The rentals payable under operating leases are charged/credited in the SOFA on a straight line basis over the lease term.

n) Intangible Fixed Assets

Expenditure on developing new modules is carried forward to match against future revenue. Following the change in our portfolio the costs brought forward have been amortised in the year. As a result, at 31 March 2021, £8,386 (2020: £nil) has been carried forward.

- Software/Website

Expenditure on software and website development is carried forward to match against expected future benefit. As a result, at 31 March 2021, £34,701 (2020: £11,724) has been carried forward. The expenditure is being written off over three years (software) and five years (website).

24

- Other

Net book value of other intangible assets at 31 March 2021 £3,545 (2020 £8,261) is carried forward against expected future benefit. The expenditure is being written off over five years.

o) Recognition of Liabilities

Liabilities are recognised when either a constructive or legal obligation exists.

p) Basis of Consolidation

The consolidated financial statements incorporate those of Education for Health and all of its subsidiaries (i.e. entities that the Group controls through its power to govern the financial and operating policies so as to obtain economic benefits). Subsidiaries acquired during the year are consolidated using the purchase method. Their results are incorporated from the date that control passes. All financial statements are made up to 31 March 2021.

All intra-group transactions, balances and unrealised gains on transactions between Group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the Group.

q) Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

r) Donated services

In accordance with the Charities SORP (FRS 102) the general volunteer time of the Trustees and administration volunteers is not recognised.

s) Critical Accounting Estimates and Judgements

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

In capitalising course development costs and their subsequent amortisation, management makes judgements as to the future viability of courses and the likely life of the courses.

25

2. Legal Status

The Charity is a Company Limited by Guarantee incorporated in England and Wales. Linda Edwards (Chief Executive) and all the current Trustees as shown on Page 46 are members of the Charity. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.

The address of the Charity’s registered office and principal place of business is 1 Lowes Lane Business Park, Lowes Lane, Wellesbourne, CV35 9RB.

3. Financial Performance of the Charity

The consolidated statement of financial activities includes the results of the Charity’s wholly owned subsidiaries Respiratory Education UK and Education for Health Trading Limited.

The results of the parent company Education for Health were as follows:-

Total Income
Net Expenditure for the Year
4. Donations and Legacies
Covid Fact Sheet
Sundry Donations		 General
Fund
£
-
-
-		 12 Months to
31/03/2021
Total
£
1,114,679
(122,561)
Restricted
Funds
£
22,978
-

22,978		 12 Months to
31/03/2021
Total
£
1,114,679
(122,561)
Restricted
Funds
£
22,978
-

22,978		 12 months to
31/03/2021
Total
£
22,978
-
22,978		 12 Months to
31/03/2020
Total
£
2,256,500
(452,982)
12 months to
31/03/2020
Total
£
-
-
3,505
3,505		 12 Months to
31/03/2020
Total
£
2,256,500
(452,982)
12 months to
31/03/2020
Total
£
-
-
3,505
3,505

The income from donations and legacies is made up of £22,978 restricted income

26

5. Income from Charitable Activities
General
Fund
£
Educational Activity
857,117
Books and Resources
-
Research Activity
7,013

864,130

6. Income from other Trading
Activities
General
Fund
Room hire
-
Sundry other trading activities
-
26,361
7. Investment income
Dividends and interest from listed investments
Interest on cash held		 Restricted
Funds
£
-
-
-
-
Restricted
Fund
-
26,361
26,361		 12 months to
31/03/2021
Total
£
857,117
-
7,013
864,130
12 months to
31/03/2021
Total
£
-
26,361
26,361
12 months to
31/03/2021
Total
£
68,217
7,012
75,229		 12 months to
31/03/2021
Total
£
857,117
-
7,013
864,130
12 months to
31/03/2021
Total
£
-
26,361
26,361
12 months to
31/03/2021
Total
£
68,217
7,012
75,229		 12 months to
31/03/2020
Total
£
1,649,149

766
45,108
1,695,023
12 months to
31/03/2020
Total
£
480
14,702
15,182
12 months to
31/03/2020
Total
£
69,783
15,855
85,638		 12 months to
31/03/2020
Total
£
1,649,149

766
45,108
1,695,023
12 months to
31/03/2020
Total
£
480
14,702
15,182
12 months to
31/03/2020
Total
£
69,783
15,855
85,638

27

8. Analysis of Income Resources
The analysis of the income resources attributable to each
geographical area is as follows:
United Kingdom
Other – European countries
Other – rest of the world
Add exceptional gain Note 37
9. Staff Costs
Wages and salaries
Social security costs
Other pension costs
Staff recruitment costs
Redundancy costs
The average number of employees during the period was 35.
They were associated with the following activities:-
Educational activity
Books and resources
Research activity
Advocacy work
1

28

12 months to 12 months to 31/03/2021 31/03/2020

9. Staff Costs (continued)

The average number of full-time equivalent (FTE) employees
during the period was 27. They were associated with the
following activities:-
Educational activity
Books and resources
Research activity
Advocacy work		 FTE No
25
0
1
1
27		 FTE No
31
1
1
1
34

During the 12 months to 31 March 2021, no Trustees (12 months to 31 March 2020: two) received reimbursements of personal travel and subsistence expenditure (12 months to 31 March 2020: £597).

No Trustees received remuneration during the year (one trustee 12 months to 31 March 2020: £7,812) for qualifying services.

The key management personnel of the parent Charity and the Group in 12 months to 31 March 2021 comprises the Chief Executive, Deputy Chief Executive, Director of Innovations, Associate Director of Strategic Partnerships, Director of Learning and Quality and since November 2020 Associate Director of the Marketing Intelligence Hub (12 months to 31 March 2020: Chief Executive, Deputy Chief Executive, Director of Innovations, Associate Director of Strategic Partnerships and Director of Learning and Quality). The total employee benefits of the key management personnel in 12 months to 31 March 2021 was £347k (12 months to 31 March 2020: £372k).

12 months to 12 months to 12 months to 12 months to
31/03/2021 31/03/2020
The numbers of employees whose emoluments were in
excess of £60,000 (excluding employers National Insurance
and pension contributions):-
£60,000 - £70,000 1 1
£70,001 - £80,000 1 1
£80,001 - £90,000 - 1
══════ ══════

Contributions amounting to £19,055 (12 month to 31 March 2020: £13,211) were made to a defined contribution pension scheme for the above employees, in the period.

29

10. Outgoing Resources
This is stated after charging/(crediting)
Auditor’s remuneration
audit
other
Trustee’s indemnity insurance
Payments under operating leases – fixtures and fittings
Payments under operating leases – Building
Depreciation of tangible assets
Ammortisation of intangible assets
11. Expenditure on raising Funds
General
Fund
Restricted
Funds
£
£
Lecturer fees and expenses
-
-
Development costs
704
-
Investment management fee
Professional fees
16,842
9,648
-
Share of support (note 18)
-
-
Sundries
88
-

27,282
-

12. Expenditure on
Charitable Activities
General
Fund
Restricted
Funds
£
£
Educational activity (note 13)
1,553,254
20,106
Books and resources (note 14)
-
-
Research activity (note 15)
16,502
-
Advocacy work (note 16)
44,960
-

1,614,716
20,106
 12 months to
31/03/2021
£
21,600
-
2,272
15,788
-
37,070
11,721
══════
12 months to
31/03/2021
Total
£
-
704
16,842
9,648
-
88
27,282
12 months to
31/03/2021
Total
£
1,573,360
-
16,502
44,960
1,634,822		 12 months to
31/03/2021
£
21,600
-
2,272
15,788
-
37,070
11,721
══════
12 months to
31/03/2021
Total
£
-
704
16,842
9,648
-
88
27,282
12 months to
31/03/2021
Total
£
1,573,360
-
16,502
44,960
1,634,822		 12 months to
31/03/2021
£
21,600
-
2,272
15,788
-
37,070
11,721
══════
12 months to
31/03/2021
Total
£
-
704
16,842
9,648
-
88
27,282
12 months to
31/03/2021
Total
£
1,573,360
-
16,502
44,960
1,634,822		 12 months to
31/03/2020
£
21,000
5,700
2,272
14,179
15,121
25,403
28,342
══════
12 months to
31/03/2020
Total
£
119
-
16,907
3,116
1,660
-
21,802
12 months to
31/03/2020
Total
£
2,226,048
4,475
31,699
60,433
2,322,655		 12 months to
31/03/2020
£
21,000
5,700
2,272
14,179
15,121
25,403
28,342
══════
12 months to
31/03/2020
Total
£
119
-
16,907
3,116
1,660
-
21,802
12 months to
31/03/2020
Total
£
2,226,048
4,475
31,699
60,433
2,322,655

30

13. Cost of Charitable Activities 12 months to 12 months to
– Educational Activities 31/03/2021 31/03/2020
General Restricted
Fund Funds Total Total
£ £ £ £
Course development 9,126 - 9,126 28,894
Salaries and staff costs 677,505 20,106 697,611 934,759
Redundancy Costs 16,189 - 16,189 22,281
Lecturer’s fees, travel and
subsistence 80,395 - 80,395 222,930
Computer consultancy and 59,098 - 59,098
support 93,663
Printing and stationery 85 - 85 458
Course material - - - 331
Course accommodation - - - 68,472
Postage 1,307 - 1,307 6,467
Sundries and cleaning 2,928 - 2,928 7,825
Bank charges 10,521 - 10,521 18,155
Catering - - - 38
Professional charges 16,597 - 16,597 22,913
Registration fees 123,355 - 123,355 139,201
Material cost for bespoke
learning - - - 30,095
Share of support and governance
(note 18) 556,402 - 556,402 630,747
Subscription 355 - 355 602
Bad debt provision (609) - (609) (1,783)
1,553,254 20,106 1,573,360 2,226,048

Registration fees represent the cost of registering students with the University of Hertfordshire, Royal College of General Physicians, Open University and the Association for Respiratory Technology and Physiology for our accredited courses. Course development largely represents the amortisation of eLearning development in the year. Material costs for bespoke learning represent the development of material for non-accredited projects.

31

14. Cost of Charitable Activities – 12 months to 12 months to 12 months to 12 months to 12 months to 12 months to 12 months to
Books and Resources 31/03/2021 31/03/2020
General Restricted
Fund Funds Total Total
£ £ £ £
Cost of items sold - - - 746
Wages, salaries and staff costs - - - 616
Professional fees - - - 1,453
Share of support and governance
(note 18) - - - 1,660
- - - 4,475
15. Cost of Charitable Activities – 12 months to 12 months to
Research Activity 31/03/2021 31/03/2020
General Restricted
Fund Funds Total Total
£ £ £ £
Wages, salaries and staff costs 4,730 - 4,730 6,557
Professional fees - - - 8,041
Share of support and governance
(note 18) 5,796 - 5,796 9,959
Miscellaneous 5,976 - 5,976 7,142
16,502 - 16,502 31,699
16. Cost of Charitable Activities – 12 months to 12 months to
Advocacy 31/03/2021 31/03/2020
General Restricted
Fund Funds Total Total
£ £ £ £
Wages, salaries and staff costs 27,572 - 27,572 40,515
Share of support and governance
(note 18) 17,388 - 17,388 19,918
44,960 - 44,960 60,433

32

17. Analysis of Governance and
Support Costs
Salaries and staff costs
Redundancy
Rates
Heat and light
Travel and subsistence
Computer consultancy and
equipment
Rent
Printing and stationery
Postage
Telephone
Staff development
Professional fees
Property maintenance
Sundries
Bank interest, charges
Foreign Exchange (gain)/loss
Subscriptions
Depreciation
Insurance
Audit
Trustees meetings
Trustees expenses
18. Allocation of Costs of
Support and Governance
Allocated to:
Educational activity
Books and resources
Research activity
Advocacy
Generating funds		 Support
£
330,519
-
4,193
5,917
21
71,727
51,132
7,336
1,732
5,565
100
12,781
-
8,708
3,856
(841)
1,040
48,029
3,779
-
-
-
555,594
General
Fund
£
556,402
-
5,796
17,388
-
579,586		 Governance
£
-
-
-
-
-
-
-
-
-
-
-
78
-
41
-
-
-
-
2,273
21,600
-
-
23,992
Restricted
Funds
£
-
-
-
-
-
-		 Governance
£
-
-
-
-
-
-
-
-
-
-
-
78
-
41
-
-
-
-
2,273
21,600
-
-
23,992
Restricted
Funds
£
-
-
-
-
-
-		 Governance
£
-
-
-
-
-
-
-
-
-
-
-
78
-
41
-
-
-
-
2,273
21,600
-
-
23,992
Restricted
Funds
£
-
-
-
-
-
-		 12 months to
31/03/2021
Total
£
330,519
-
4,193
5,917
21
71,727
51,132
7,336
1,732
5,565
100
12,859
-
8,749
3,856
(841)
1,040
48,029
6,052
21,600
-
-
579,586
12 months to
31/03/2021
Total
£
556,402
-
5,796
17,388
-
579,586		 12 months to 12 months to 12 months to 12 months to
31/03/2020
Total
£
404,809
12,546
6,141
6,349
5,381
73,832
15,122
10,314
2,436
13,928
5,687
15,182
15,438
8,766
333
2,228
1,737
35,046
7,072
21,000
-
597
663,944
12 months to		 31/03/2020
Total
31/03/2020
Total
£
630,747
1,660
9,959
19,918
1,660
663,944		 Total

33

19. Total Expenditure
Expenditure on Raising Funds:
Investment management fees
Other expenses
Expenditure on Charitable Activity:
Educational activity
Books and resources
Research activity
Advocacy
Exceptional charitable activity
Total Expenditure
Reconciliation to other Notes to the
Accounts:
Items in costs of support (note 17)
(prior to allocation)
Per Note 9
_
The expenditure was £1,662,104 (2020: £2,440,164)		 Staff Costs
Depreciation and
Amortisation
Support Costs
Other
£
£
£
£
-
-
-
16,842
-
-
-
10,440

27,282
713,800
9,126
556,402
294,032
-
4,730
-
5,796
5,976
27,572
-
17,388
-

746,102
-
9,126
579,586
300,008

746,102
9,126
579,586
327,290

330,519
48,733
___
1,076,621
_____
57,859
of which £1,641,998 was unrestricted (2020: £2,440,164) and £22,978		 12 months to
31/03/2021
Total
12 months to
31/03/2020
Total
£
£
16,842
16,907
10,440
4,895

27,282
21,802
1,573,360
2,226,048
4,475
16,502
31,699
44,960
60,433

1,634,822
2,322,655
95,707

1,662,104
2,440,164

was restricted (2020: £Nil).		 12 months to 12 months to 12 months to
31/03/2020
Total
£
16,907
4,895		 Total
21,802
2,226,048
4,475
31,699
60,433
2,322,655
95,707
2,440,164

34

20. Taxation

No tax has been provided in the accounts of Education for Health because it is a registered Charity and much of its activity is within the exemption granted by Section 505 of the Income and Corporation Taxes Act 1988, and no taxation is due for payment. The Charity has borne VAT on expenditure where appropriate.

21A. Tangible Fixed Assets

Group
At cost: 01 April 2020
Additions
Disposals

Balance: 31 March 2021

Depreciation: 01 April 2020
Charge for period
Disposals

Balance: 31 March 2021

Net book values:
31 March 2021

31 March 2020
 Equipment,
Fixtures and
Fittings
£
191,820
-
-

191,820

35,323
37,070
-

72,393

119,427

156,497
 Total
£
191,820
-
-		 Total





191,820
35,323
37,070
-
72,393
119,427
156,497

35

21B. Tangible Fixed Assets

Charity
At cost: 01 April 2020
Additions
Disposals

Balance: 31 March 2021

Depreciation: 01 April 2020
Charge for period
Disposals

Balance: 31 March 2021

Net book values:
31 March 2021

31 March 2020
 Equipment,
Fixtures and
Fittings
£
185,925
-
-

185,925

29,428
37,070

66,498

119,427

156,497
 Total
£
185,925
-
-		 Total





185,925
29,428
37,070
66,498
119,427
156,497

36

22. Intangible Fixed Assets – Development Costs

Group:
At cost: 01 April 2020
Additions
Balance: 31 March 2021
Amortised: 01 April 2020
Charged in the period
Balance: 31 March 2021
Net book values:
31 March 2021
31 March 2020
Charity:
At cost: 01 April 2020
Additions
Balance: 31 March 2021
Amortised: 01 April 2020
Charged in the period
Balance: 31 March 2021
Net book values:
31 March 2021
31 March 2020		 Contract
Related
Intangibles
£
140,276
-
140,276
140,276
-
140,276
-
-		 Course
Development
Costs
£
583,357
9,148
592,505
583,357
762
584,119
8,386
-
Course
Development
Costs
£
583,357
9,148

592,505
583,357
762
584,119
8,386
-		 Software and
Website
Development
£
207,845
29,220
237,065
196,121
6,243
202,364
34,701
11,724
Software and
Website
Development
£
207,845
29,220
237,065
196,121
6,243
202,364
34,701
11,724		 Social
Impact
£
23,588
-
23,588
15,327
4,716
20,043
3,545
8,261
Social
Impact
£
23,588
-
23,588
15,327
4,716
20,043
3,545
8,261		 Total
£
955,066
38,368

993,434		 Total
935,081
11,721

946,802
46,632
19,985
Total
£
814,790
38,368

853,158		 Total


794,805
11,721

806,526
46,632
19,985

Amortisation of intangibles is charged within charitable activities.

37

23. Fixed Asset Investments
Group:
Listed investments
Fair value as at 01 April 2020
Additions
Disposals proceeds
Realised and unrealised gains

Fair value at 31 March 2021

Historical cost at 31 March 2021

Fixed asset investments are represented by:
UK listed investments
Non UK listed investments

 2021
£
2,565,227
1,157,395
(1,283,136)
405,038
2,844,524
2,673,418
2,128,240
716,284
2,844,524		 2020
£
2,936,684
2,093,044
(2,195,183)
(269,318)
2,565,227
2,651,551
2,055,770
509,457
2,565,227

The following represented more than five percent of the fair value of investments at:-

939
IShares CR GBP CRP SHS (GBP)
21,851
IShares II PLC Core UK Gilt UCITS ETF GBP
UBS ETF SICAV MSCI EMU SOC RES CLA EUR
11,247
UBS ETF PLC MSCI UK SOC RES UCITS ETF
1,572
UBS ETF SICAV MSCI USA SOC RESP UCIT USD
114,887.5
23,401
32,093
Charities Property Income Units
Pimco funds UK corp bd FD inst shs
UBS IRL ETF PLC MSCI USA SOC RESP A USD		 31/03/2021
-
142,540
299,796
179,300
144,243
247,817
317,992		 31/03/2020
-
-
311,987
130,639
227,677
254,041
146,171
221,692

Charity:

Investments held by the Charity also include an additional £2 (2020: £2) investment in the whollyowned subsidiary company Education for Health Trading Limited (Company number 03281397) at cost. The Charity also owns 100% of National Respiratory Training Centre Ltd (Company number 05630081) and Respiratory Education UK (Company number 03632077, Registered Charity number 1073428) for which there is no cost of investment.

All subsidiaries are incorporated in England. Education for Health Trading Limited and National Respiratory Training Centre were dormant throughout the year and prior year.

38

24. Debtors and Prepayments
Trade Debtors
Other debtors
Amounts owed by Group
undertakings
Prepayments and other accrued
income
25. Creditors
Trade Creditors
Taxation and social security
costs
Other creditors
Loan
Accruals		 Group
31/03/2021
£
139,313
6
71,650
210,969
Group
31/03/2021
£
101,294
24,951
26,779
613,339
257,768
1,024,131		 Group
31/03/2020
£
202,628
-
-
75,075
277,703
Group
31/03/2020
£
78,732
35,111
28,610
503,619
154,154
800,226		 Charity
31/03/2021
£
139,313
6
143
71,650

211,112

Charity
31/03/2021
£
101,294
24,951
26,779
613,339
257,768

1,024,131		 Charity
31/03/2020
£
202,628
-
143
75,075

277,846

Charity
31/03/2020
£
78,732
35,111
28,610
503,619
154,154

800,226

Included within other creditors is an amount of £19,878 owed to UKIG (2020: £21,172), in relation to funds held on their behalf.

Financial instruments measured at amortised cost comprise a loan provided by UBS.

Carrying amount of financial
assets
Debt instruments measured at
amortised cost
Carrying amount of financial
liabilities
Measured at amortised cost		 Group
31/03/2021
£
139,313
999,180		 Group
31/03/2020
£
202,628
765,115		 Charity
31/03/2021
£
139,313
999,180		 Charity
31/03/2020
£
206,771
765,115

The loan is in the form of a loan secured against the investment portfolio, with a variable 1.75% above LIBOR interest rate until 18/2/21 when rate reduced to 1.5% above LIBOR. The loan is included in Creditors (note 26).

39

26. Fees Received in Advance
At 01 April 2020
Released during period
Deferred during period
At 31 March 2021		 Group
£
680,659
(870,672)
974,210
784,197		 Charity
£
680,659
(870,672)
974,210
784,197

27. Unrestricted Funds

7. Unrestricted Funds
Group:
General fund
Trading subsidiaries


Designated funds:
Equipment, furniture,
fixtures and fittings fund
Intangible fixed assets
New educational
technologies/IT systems
Development fund
Operating fund
Resource management
reserve
Strategic development
fund

Total designated
reserves
Unrestricted reserves
 1 April
2020
£
938,378
(51)
938,327
156,497
19,985
-
355,000
45,000
350,000
926,482
___
1,864,809		 Net Incoming
Resources/(Resources
Expended) in Year
£
(112,138)
-

(112,138)

(37,070)
26,647
-
-
-

(10,423)
____
(122,651)
 Transfers
£
155,000
-

155,000

-
-
(155,000)
-

(155,000)
___
-
 31 March
2021
£
981,240
(51)		 2021
981,189
119,427
46,632
200,000
45,000
350,000
761,059
___
1,742,248

40

27. Unrestricted Funds (continued)

Charity:
General fund

Designated funds:
Equipment, furniture,
fixtures and fittings fund
Intangible fixed assets
New educational
technologies/IT systems
Development fund
Operating fund
Resource management
reserve
Strategic development
fund

Total designated
reserves

Unrestricted reserves
 1 April
2020
£
938,378
156,497
19,985
355,000
45,000
350,000
926,482
1,864,860		 Net Incoming
Resources/(Resources
expended) in Year
£
(112,138)

(37,070)
26,647
-
-
-

(10,423)

(122,561)
 Net Incoming
Resources/(Resources
expended) in Year
£
(112,138)

(37,070)
26,647
-
-
-

(10,423)

(122,561)
 Transfers
£
155,000

-
-
(155,000)
-
-

(155,000)

-
 31 March 31 March
2021
£
981,240		 2021
119,427
46,632
200,000
45,000
350,000
761,059
1,742,299

The strategic development fund is to support the period of change the charity is currently undergoing. With the intention to ensure infrastructure, resource and products are fully aligned to enable delivery of our strategic aims over the next three years. The operating fund is the amount required to allow students to complete programmes of study. The reduction in the year reflects the teach out of our undergraduate programme. The resource management fund is to fund unexpected resource requirements in the unexpected circumstances of maternity leave or long term illness. Fixed assets and intangible assets reserves reflect assets not readily converted to cash.

41

28. Restricted Funds

1 April
2020
Net Incoming
Resources/(Resources
expended) in Year
£
£
Charity and Group:
Restricted fund
-
22,978

9. Analysis of Net Assets Between Funds
Tangible &
Intangible
Fixed Assets
Investments
Net Current
Assets /
(Liabilities)
and
Provisions
£
£
£
Group:
Restricted Funds
-
-
2,872
Unrestricted
funds:
Designated
-
761,059
-
General
166,059
2,083,465
(1,268,335)

166,059
2,844,524
(1,265,463)

Charity:
Restricted Funds
-
-
2,872
Unrestricted funds:
Designated
761,059
General
166,059
2,083,467
(1,268,286)


166,059
2,844,526
(1,265,414)
Expenditure
£
(20,106)


31/03/2021
Total
£
2,872
761,059
981,189

1,745,120

2,872
761,059
981,240

1,745,171		 31 March
2021
£
2,872
31/03/2020
Total
£
-
926,482
938,327

1,864,809
-
926,482
938,378
1,864,860

29. Analysis of Net Assets Between Funds

42

30. Commitment Under Operating Leases
Land and Buildings
Within one year
Within two to five years
Within five to ten years


Fixtures and fittings:
Within one year
Within two to five years
Within five to ten years

 Group
31/03/21
£
48,000
192,000
122,838

362,838

19,095
44,916
-

64,011
 Group
31/03/20
£
40,706
192,000
170,838


403,544


16,843
46,198
4,889


67,930

 Charity
31/03/21
£
48,000
192,000
122,838

362,838

19,095
44,916
-

64,011
 Charity
31/03/20		 Charity

£
40,706
192,000
170,838
403,544
16,843
46,198
4,889
67,930

31. Capital Commitments

On 31 March 2021, the Group and Charity had no tangible or intangible capital commitment (March 2020: £Nil).

32. Reconciliation of Net Income (expenditure) to Net Cash Flow from Operating Activities

Net expenditure for the year
Add back depreciation charge
Add amortisation intangible assets
Deduct investment income
Add losses/deduct (gains) on investments
Profit/(Loss) on disposal
Decrease in stock
Decrease (increase) in debtors
Decrease in creditors and provisions
Net cash used in operating activities		 Group
31/03/2021
£
(119,689)
37,070
11,721
(75,229)
(405,038)
-
-
66,734
327,443
(156,988)		 Group
31/03/2020		 Group
31/03/2020		 Group
£
(452,982)
25,403
28,342
(85,638)
269,318
(411,419)
1,020
66,121
(353,603)
(913,438)

43

33. Reconciliation of Net Income (expenditure) to Net Cash Flow from Operating Activities

Analysis of cash and cash equivalents:
Cash in hand at 31/03/2020
Movement in year
Cash in hand at 31/03/2021		 £
326,382
5,614
331,896

34. Government Grant

A government grant in the form of Government Job Retention Scheme valuing £148,679 during the year ending 31 March 2021 was received.

35. Related Party Transactions

There were no Related Party Transactions in the period ending 31 March 2021.

36. Contingent Liability

Education for Health and REUK are party to a group VAT registration effective from 01 March 2015. At 31 March 2021, there was a VAT liability of £1,137 (31 March 2020: £9,000).

37. Exceptional Items
Income
Profit from the disposal of land and property

Cost
Loss from the sale of fixtures and fittings relating to the
move
One off costs of the move

Total exceptional Costs
 2020/21
£
-
-
-
-		 2019/20
£
457,152
(45,733)
(49,974)
95,707

Last year Education for Heath sold their land and buildings in Warwick realising a profit which was treated as exceptional income in the accounts.

The exceptional loss in 2019/20 comprised of the one off costs relating to the sale and our move to rented property in Wellesbourne.

44

38. Comparative Information – Consolidated Statement of Financial Activities

Income and Endowments from:
Donations and legacies
Charitable activities
Other trading activities
Surplus on disposal of assets
Investments
Total Income
Expenditure on:
Raising funds
Charitable activities
Exceptional charitable activities
Total Expenditure
Net (losses) gains on investments
Net Movement in Funds for the Year
Reconciliation of Funds:
Total funds
brought forward
Total Funds
Carried Forward		 12 months to
31/3/2020
Total
£
3,505
1,695,023
15,182
457,152
85,638
__
2,256,500
21,802
2,322,655
95,707
_
2,440,164
_
(269,318)
__
(452,982)
2,317,791
_
1,864,809
_		 12 months to
31/3/2019
Total
£
14,265
1,713,060
30,253
-
101,280
__
1,858,858
28,076
2,249,373
-
_
2,277,449
_
64,637
__
(353,954)
2,671,745
_
2,317,791
_
__





__

__

__

__

__

45

Reference and Administration Details

Registered Charity No: 1048816 Company No: 03090774 VAT No: GB210922057

Board of Trustees:

Dr Robert Angus (Chairman) Professor Ursula Gallagher (Co-Chairman) (retired 26.1.2021) Mr Robert Strange Mr Gary Parkinson Mrs Aileen Muir Mr Christopher Rowles Mr Mike Attwood Dr Cathy Winfield appointed 12/5/2021 Mr Stephen Landrey appointed 12/5/2021 Dr Robert Angus and Mr Gary Parkinson retire and being eligible offer themselves for re-election

Mr Stephen Landrey and Dr Cathy Winfield having been appointed since the last AGM retire and offers themselves for re-election.

Chief Executive:

Dr Linda Edwards

Senior Leadership Team, assisting Chief Executive:

Mrs Rebecca Harkcom, Deputy Chief Executive Mrs Ann Saxon, Director of Quality and Learning Mr Stephen Ryan, Director of Innovations Unit Mr Adam Smith, Assistant Director of Strategic Partnerships Mrs Sarah Brighton , Associate Director of Marketing and Market Intelligence Hub (appointed 9 November 2020)

Nominations Committee:

Mr Gary Parkinson Professor Ursula Gallagher (retired 26.1.2021) Dr Robert Angus

Finance, Audit and Risk Committee:

Mr Robert Strange Mr Gary Parkinson Mrs Aileen Muir

Patrons:

Mrs Greta Barnes MBE Baroness Julia Cumberlege CBE, DL

Legal Advisors:

Wright Hassall and Co Olympus Avenue Leamington Spa Warwickshire CV34 6BF

Shakespeare Martineau Brideway House Stratford on Avon, CV37 6YX

Investment Advisors:

UBS Wealth Management 1 Finsbury Avenue London EC2M 2PP

EFG Harris Allday (appointed April 2021) 33 Great Charles Street Birmingham B33JN

Bankers:

Company Secretary:

Mrs Rebecca Harkcom

Registered Office and Principal Address:

1 Lowes Lane Business Park, Lowes Lane Wellesbourne, CV35 9RB

Website: www.educationforhealth.org

Barclays Bank plc PO Box 1352 25 High Street Coventry CV1 5QZ

Auditors:

RSM UK Audit LLP St Philips Point Temple Row Birmingham B2 5AF

46