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2024-03-31-accounts

Company Number 03090774

Report and accounts 1 April 2023 – 31 March 2024

Company Number: 03090774 Charity Number: 1048816

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Contents

Message from our Chairman ....................................................................................................................... 3 Trustees’ Report ................................................................................................................................................... 5 2023-24 year in review: activities, achievements and impact ............................................ 5 Our people .......................................................................................................................................................... 5 Objectives and activities: vision, purpose, objects and aims............................................... 6 Overview of our activities, achievements and impact ............................................................ 7 Achievements and performance ......................................................................................................... 8 Looking forward .............................................................................................................................................. 9 Going concern ................................................................................................................................................ 10 Investment policy and performance ............................................................................................... 10 Risk ......................................................................................................................................................................... 11 Structure and board ................................................................................................................................... 13 Independent Auditor’s Report to the Members of Education for Health ..................... 17 Financial statements ..................................................................................................................................... 23 Consolidated Statement of Financial Activities ....................................................................... 23 Balance Sheets at 31 March 2024 ...................................................................................................... 23 Consolidated Statement of Cash Flows ........................................................................................ 24 Notes to the Financial Statements................................................................................................... 25 Trustees, officers and advisors .................................................................................................................. 51

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Message from our Chairman

One of the real pleasures in 2023 for Education for Health was to host an inperson graduation ceremony for our students which was the first time since the COVID pandemic. The day was a delight for the graduands and families. A striking feature was the career level of the people. We heard testimonies of how the qualifications and training achieved through the courses at Education for Health had allowed promotion and career progression as well as equipping people to do a better job for patients or in leading a team or service.

As the NHS and wider healthcare sector has sought to increase its capability in this last 12 months we have been pleased to engage not just with nurses and our traditional student groups but with the training of professions and services wanting to make the Additional Roles Reimbursement Scheme work. We have seen a significant increase in other professions such as clinical pharmacists accessing courses as they seek to widen their clinical knowledge and skills to allow delivery of services. Relating to this we have presented at a several national conferences with a focus on improving health outcomes and workforce development. In addition to the widening of our professional reach, we have also developed our relationship and partnership work with industry partners to create innovative ways to upskill healthcare professionals, we thank the industry for their willingness to enable this. Similarly, with professional bodies we have grown partnerships such as those with British Society of Allergy and Clinical Immunology and Respiratory Futures to run a series of webinars and we will continue to develop these relationships; webinars have been popular with hundreds attending some of them. As we have identified previously the main demand for courses on Respiratory Disease, Diabetes and Cardiac diseases sometimes as a portfolio approach to long term conditions. Of note is that the uptake of postgraduate courses is increasing.

Fiscally, in 2023, we have seen improvement and are reporting a profitable position, we would like to thank all our staff for their efforts to achieve this. It is clear there is a massive health work force training challenge in UK Healthcare. To address this need and fulfil our objects we believe a growth strategy is key to the future, this is with a view to increasing our reach and impact.

To meet this challenge, we are investing and undertaking organisational development. In 2023 we created a Director of Customer Solutions role; Nick Wilkinson was appointed in October and a new Director of Clinical Development, Preeti Minhas, was appointed to provide a clear clinical focus. Following the retirement of Ann Saxon, whose service we note, we have been delighted to appoint Vanessa Williams as Director of Learning Design and Quality, with a focus on continual improvement.

Educationally, we have begun a programme of automation to enable people to access their learning more efficiently, this complements the previous moves to

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flexible e-learning and “bite-size” opportunities. We have commenced the revalidation process for the post graduate portfolio, which will be completed in 2025; we would also like to acknowledge the excellent partnership we have with the University of West Hertfordshire. We are committed to delivering the highest quality academic courses and ensuring that this continues across our portfolio of CPD, and non-accredited courses.

At Education for Health we are excited about the future. The health training need in the UK is massive; we are determined to respond to the challenge of growing and providing leading edge education and training to play our part in meeting that demand.

Dr Robert Angus, Chairman 6[th] November 2024

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Trustees’ Report

2023-24 year in review: activities, achievements and impact

200 courses delivered

3,889 healthcare professionals completed our courses

20,704 people accessed free eLearning

bursaries awarded to £74,883 students

Our people

The Chief Executive, Dr Linda Edwards, is supported by an Executive Team comprising Deputy Chief Executive, Becky Harkcom (resigned August 2024); Director of Learning Design and Quality, Ann Saxon (until December 2023) and Dr Vanessa Williams from February 2024. In September 2023 Nick Wilkinson joined as Director of Customer Solutions. Preeti Minhas was appointed as Director of Clinical Development from 1 April 2024. Anthony Welsh was appointed Director of Finance and Organisational Performance in August 2024.

The organisation is comprised of a core staff of 24 supported by a team of 80 clinical and e-learning design associates from a range of clinical disciplines. Together we provide high-quality education and training. In addition, we are privileged to work with volunteers from time to time, who add a further dimension to our work.

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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 objectives 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 Commission's
general guidance on public benefit
when reviewing the aims and
objectives of the charity and in
planning future activities for the year.
Our ambitions and enablers:
Ambitions
Ambition 1: Create a sustainable
dynamic organisation providing
leading edge education & training
Ambition 2: Demonstrate the impact
high quality education and training
has on health outcomes
Ambition 3:Create a dynamic health
community at the leading edge of
health developments and practice
Enablers
Enabler 1Have the capability and
capacity to deliver our ambitions
Enabler 2:Team with partners who
can help us be better and provide an
excellent customer experience
Enabler 3:Invest in the technology
and skills to improve quality and
efficiencies

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Overview of our activities, achievements and impact

What we intended to do in 2023/24

Our principal focus is to improve health outcomes and reduce health inequality by upskilling healthcare professionals. We are committed to supporting the NHS in retaining and developing their staff, enabling them to have access to the latest research and developments in health.

We continually seek to find new ways to enable healthcare professionals (HCPs) to access much-needed information and training by:

In 2023/24 we:

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Achievements and performance

Financial performance summary

Income
£’000		 Expenditure
£’000		 Operating
result
£’000		 Investment
gains/(losses)
£’000		 Net
Movement
£’000
2023/24 1,772 (1,595) 176 44 220
2022/23 1,479 (1,472) 7 (34) (26)
Movement 292 (123) 169 77 246
20% (8%) 240% 240%

Financial results for the year

As part of the three year strategic plan to grow reserves, the Trustees had set a budget for the financial year 2023/24 to achieve an operating profit of £146k and a positive movement in reserves of £158k. The year has been financially successful, achieving £176k operating profit and a positive movement in reserves of £220k, compared to a negative movement of £26k the previous year.

Income improved significantly in 2023/24, reaching £1,772k compared to £1,479k in 2022/23 (a 20% increase). This growth has enabled an increase in our reach by educating and training 25k healthcare professionals and those supporting the care of those living with long-term conditions, most notably growing training in the areas of spirometry and asthma.

Education for Health has free reserves of £1,237k at the end of the financial year against our target unrestricted reserve of £1,000k.

Designated reserves

Our £384k designated reserves are made up of:

  1. a designated development fund of £150k, which is used to fund and support strategic initiatives.

  2. the operating fund of £171k reflects our moral obligation to support existing students to complete their studies. The reduction from last year reflects the teach out of the undergraduate programme and the change in our business model.

  3. £64k of fixed assets not readily convertible to cash.

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Reserves policy

As part of the 2023/24 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 maintains free reserves:

The agreed target free reserve of £1m remains.

On 31 March 2024, unrestricted free reserves of the group, excluding designated reserves, amounted to £1,237k, calculated as follows:

Group
£’000
Total funds 1,621
Less designated reserve 384
Free reserves 1,237

Looking forward

We operate in an environment of constant change. The NHS and wider health and care system have been under extreme pressure since the start of the Covid pandemic. Health and care professionals have never experienced such unrelenting pressure. The impact of an ageing population with resultant increased demand and regional variability places significant pressures on the NHS workforce. It is therefore imperative that education and training is delivered in flexible and accessible ways. This enables healthcare professionals to access the knowledge and know-how they need to deliver quality outcomes for people with long-term conditions.

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Going concern

The Trustees continue to closely monitor the financial position of the charity and conclude that Education for Health is on track to achieve the overarching objectives set until 2025 with the three year financial targets set to build reserves. This will ensure that there is sufficient cash to support the financial and moral obligations of the charity in the foreseeable future.

In April 2024 the Board of Trustees approved a budget for 2024/25 which reflects the continued upward trajectory in our financial results. Growth in income will be achieved by working in collaboration to meet the targeted geographic needs of our beneficiaries while continuing to control costs.

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. Having made the decision in August 2022 to temporarily liquidate our investments in favour of a treasury bond, the level of certainty within the market was felt to have risen sufficiently to reinvest £2m in a low risk portfolio in December 2023.

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Our investment policy states:

On behalf of the Board, the Finance, Audit and Risk Committee monitors the activities and performance of investments against predetermined criteria and benchmarks. Investment gains of £44k were achieved in the year (2022/23 loss £34k) Investment income of £45k (2022/23 £44k) were received.

Risk

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

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

Once identified, appropriate systems and procedures are put in place to mitigate the risks. The 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:

Risk Mitigating actions taken
1. Dependency on a limited number of
income streams		 Appointments have been made to
strengthen the capabilities required
within the organisation to diversify
income streams and achieve income
targets, using tactical plans.
2. Sufficient cash to support the
charity		 Third party advisers used to manage
investments. An element of the
portfolio is readily convertible to
support working capital needs.
Strategic plan to rebuild reserves to
support the charity achieve its
objectives, is on track.
3. Increased risk from cyber attacks We are working with third party
advisers to minimise the risk of
security attacks and ensure their
impact is reduced, should it happen.
4. Succession planning for Board Process of recruitment to meet the
needs of the Board, managed by
Nominations committee, using skills
analysis.
5. Capabilities to achieve income
targets		 Appointments have been made to
strengthen the capabilities required
within the organisation to diversify
income streams and achieve income
targets.

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

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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 Chief Executive and 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.

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 to:

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 the Nominations Committee. 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.

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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.

Remuneration

The remuneration and rewards policy ensures all staff are paid fairly in line with national benchmarking, ensuring 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 salaries for the Executive Team Charity for Board approval. Pay awards are made after considering 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:

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The 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 2023/24 National Respiratory Training Centre Limited was struck off on 7 May 2024 and Respiratory Education UK was struck off on 28 May 2024.

Mrs Greta Barnes MBE, the Founder of our Charity is the Patron of Education for Health.

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.

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Auditors

The Directors resolved that Dains Audit Limited be appointed as auditors.

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 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 6[th] November 2024 and signed on its behalf by:

Robert Angus, Director/Chairman, the Board of Trustees

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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) and its subsidiary undertakings (the ‘group’) for the year ended 31 March 2024 which comprise the consolidated Statement of Financial Activities, the consolidated and charity Balance Sheet, the consolidated 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 group and 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.

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Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and 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.

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 group and charitable company and its environment obtained in the course of the audit, we have not

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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 15, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group and 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 the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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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.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

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We assessed the susceptibility of the group and charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

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

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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.

Mark Gurney FCCA (Senior Statutory Auditor) For and on behalf of Dains Audit Limited

Statutory Auditor Chartered Accountants

Birmingham

6 November 2024

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Company Number 03090774

Financial Statements

Consolidated Statement of Financial Activities

Balance Sheets at 31 March 2024

(including Consolidated Income and Expenditure Account) for the year ended 31 March 2024

Group
31/03/2024		 Group
31/03/2023		 Charity
31/03/2024		 Charity
31/03/2024		 Charity
31/03/2023
Notes £ £ £ £
Fixed Assets:
Intangible assets 21 43,272 65,125 43,272 65,125
Tangible assets 20 20,408 49,897 20,408 49,897
Investment assets
Total Fixed Assets		 22 2,034,590
2,098,270		 -
115,022		 2,034,592
2,098,272		 2
115,024
Current Assets:
Debtors and
prepayments		 23 151,277 364,320 151,420 364,463
Cash at bank and in
hand		 31 781,936 2,905,033 781,842 2,904,939
Total Current Assets 933,213 3,269,353 933,262 3,269,402
Liabilities:
Creditors falling due
within one year
Creditors falling due		 24 301,789 335,710 301,789 335,710
after one year 41,668 61,668 41,668 61,668
Fees received in
advance		 25 1,066,953 1,586,196 1,066,953 1,586,196
Net Current Liabilities 1,410,410
(477,197)		 1,983,574
1,285,779		 1,410,410
(477,148)		 1,983,574
1,285,828
Total Assets less
Current Liabilities 1,621,073 1,400,801 1,621,124 1,400,852
Net Assets 1,621,073 1,400,801 1,621,124 1,400,852
The Funds of the
Charity:
Unrestricted Funds 26 1,621,073 1,400,801 1,621,124 1,400,852
Total Charity Funds 1,621,073 1,400,801 1,621,124 1,400,852
Signed by Robert Angus, Chairman of Trustees on behalf of the Trustees
Approved by the Trustees and authorised for issue on 6th November 2024
The notes on pages 25 to 51 form part of these accounts.
UraMe		 November 2024
 23
~~La~~
Unrestricted Restricted Restricted 12 months to 12 months to
Fund Fund 31/3/2024 31/3/2023
Total Total
Notes £ £ £ £
Income and
Endowments from:
Donations and
legacies		 4 - - - 86
Charitable activities 5 1,717,922 - 1,717,922 1,426,874
Other trading
activities		 6 8,806 - 8,806 7,875
Investments 7 44,782 - 44,782 44,347
Total Income 1,771,510 - 1,771,510 1,479,182
Expenditure on:
Raising funds 11 5,586 - 5,586 5,287
Charitable activities 12 1,589,562 - 1,589,562 1,466,510
Total Expenditure 1,595,148 - 1,595,148 1,471,510
Net gains (losses) on
investments		 22 43,910 - 43,910 (33,714)
Net Movement in
Funds for the Year 220,272 - 220,272 (26,329)
Reconciliation of
Funds:
Total funds brought
forward 1,400,801 - 1,400,801 1,427,130
Total Funds Carried
Forward 1,621,073 - 1,621,073 1,400,801

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.

The notes on pages 25 to 51 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 6[th] November 2024

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Company Number 03090774

Consolidated Statement of Cash Flows

for the year ended 31 March 2024

Group 12 Group 12
Months to Months to
31/03/2024 31/03/2023
Notes £ £
Cash Flows from Operating Activities:
Net cash used in operating activities 30 (165,099) 481,317
Cash Flows from Investing Activities:
Dividends and interest from investments 44,782 44,347
Purchase of tangible fixed assets (309) -
Purchase of intangible fixed assets (11,791) (44,710)
Proceeds from sale of investments 49,420 2,313,161
Purchase of investments (2,040,100) (84,535)
Cash (used in)/generated by Investing
Activities (1,957,998) 2,228,263
(Decrease)/Increase in Cash and Cash
Equivalents in the year (2,123,097) 2,709,580
Cash and cash equivalents at the beginning
of the year 2,905,033 195,453
Total Cash and Cash Equivalents at the End
of the Year		 31 781,936 2,905,033

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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 2019) – 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 £ 1,621k (31 March 2023: £1,401k). 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 £2,035k (31 March 2023: £nil), cash of £ 782k (31 March 2023: £2,905k) and liabilities of £1,410k (31 March 2023: £1,984k).

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.

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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.

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.

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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.

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.

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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

Development Costs

Expenditure on developing 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 2024, £23k (2023: £35k) 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 2024, £20k (2023: £30k) has been carried forward. The expenditure is being written off over three years (software) and five years (website).

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 2024.

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.

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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.

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 50 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.

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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:

12 Months to 12 Months to
31/03/2024 31/03/2023
Total Total
£ £
Total Income 1,771,510 1,479,182
Net income/(expenditure) 220,272 (26,329)

4. Donations and Legacies

12 Months to 12 Months to
31/03/2024 31/03/2023
General General Restricted Total Total
Fund Funds
£ £ £ £
Sundry Donations - - - 86
Net income/(expenditure) - - - 86

The income from donations and legacies includes no restricted income in year ending 31 March 2024.

5. Income from Charitable Activities

12 Months to 12 Months to
31/03/2024 31/03/2023
General Restricted Total Total
Fund Funds
£ £ £ £
Educational Activity 1,716,876 - 1,716,876 1,411,408
Research Activity 1,046 - 1,046 15,466
1,717,922 - 1,717,922 1,426,874

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6. Income from other Trading Activities

12 Months to 12 Months to
31/03/2024 31/03/2023
General Restricted Total Total
Fund Funds
£ £ £ £
Room hire 7,700 - 7,700 2,400
Sundry other trading activities 1,106 - 1,106 5,475
8,806 - 8,806 7,845

7. Investment income

12 Months to 12 Months to
31/03/2024 31/03/2023
Total Total
£ £
Dividends and interest from listed investments 13,337 29,772
Interest on cash held 31,445 14,575
44,782 44,347

8. Analysis of Income Resources

12 Months to 12 Months to
31/03/2024 31/03/2023
Total Total
£ £
The analysis of the income resources attributable to
each geographical area is as follows:
United Kingdom 1,738,806 1,432,050
Other – European countries 32,674 46,629
Other – Rest of the world 30 503
1,771,510 1,479,182

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9. Staff Costs

12 Months to 12 Months to
31/03/2024 31/03/2023
Total Total
£ £
Wages and salaries 765,986 712,299
Social security costs 70,911 70,397
Other pension costs 44,377 54,944
Staff recruitment costs 3,617 -
884,891 837,640

The average number of employees during the year was 23. They were associated with the following activities:

12 Months to 12 Months to
31/03/2024 31/03/2023
Headcount Headcount
No. No.
Educational activity 22 21
Advocacy work 1 1
23 23

The average number of full-time equivalent (FTE) employees during the period was 19. They were associated with the following activities:

12 Months to 12 Months to
31/03/2024 31/03/2023
Headcount Headcount
No. No.
Educational activity 18 18
Advocacy work 1 1
19 19

During the 12 months to 31 March 2024, one Trustee (year to 31 March 2023 no trustees) received reimbursements of £234 for personal travel and subsistence expenditure (year to 31 March 2023: £Nil).

No Trustees received remuneration for qualifying services during the year ending 31 March 2023 nor during the previous year ending 31 March 2023.

The key management personnel of the parent Charity and the Group in the year to 31 March 2024 comprises the Chief Executive, Deputy Chief Executive, Director

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of Learning Design and Quality and Director of Customer Solutions (the year to 31 March 2023: the Chief Executive, Deputy Chief Executive, Director of Partnerships and Customer Experience and Director of Learning Design and Quality). The total employee benefits of the key management personnel in the year to 31 March 2024 was £255k (the year to 31 March 2023: £288k).

12 Months to 12 Months to
31/03/2024 31/03/2023
The numbers of employees whose emoluments were
in excess of £60,000 (excluding employer’s National
Insurance and pension contributions):
£60,000 - £70,000 - -
£70,001 - £80,000 1 1
£80,001 - £90,000 1 1
£100,000 - £110,000 - -

Contributions amounting to £11,561 (12 month to 31 March 2023: £11,554) were made to a defined contribution pension scheme for the above employees, in the period.

10. Outgoing Resources

12 Months to 12 Months to
31/03/2024 31/03/2023
Total Total
£ £
This is stated after charging/(crediting)
Auditor’s remuneration: audit 17,040 15,840
Trustees’ indemnity insurance 2,214 2,125
Payments under operating leases – fixtures and fittings 12,325 16,471
Payments under operating leases – building 48,000 48,000
Depreciation of tangible assets 29,798 33,903
Amortisation of intangible assets 33,644 19,332

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11. Expenditure on raising Funds

General Restricted 12 Months to 12 Months to
Fund Funds 31/03/2024 31/03/2023
£ £ £ £
Investment management fee 4,532 - 4,532 4,317
Graduation costs 1,054 - 1,054 -
Sundries - - - 970
5,586 - 5,586 5,287

12. Expenditure on charitable activities

12 Months to 12 Months to
31/03/2024 31/03/2023
General Restricted Total Total
Fund Funds
£ £ £ £
Educational activity (note 13) 1,565,101 - 1,565,101 1,413,689
Research activity (note 15) - - - 18,457
Advocacy work (note 16) 24,461 - 26,461 34,364
1,589,562 - 1,589,562 1,466,510

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13. Cost of charitable activities – educational activities

12 Months to 12 Months to
31/03/2024 31/03/2023
General Restricted Total Total
Fund Funds
£ £ £ £
Amortisation of development 21,642 - 21,642 23,288
Salaries and staff 568,033 - 568,033 573,851
Lecturers’ fees, travel and
subsistence 163,939 - 163,939 106,739
Course development 17,112 - 17,112 -
Staff development 1,764 - 1,764 -
Computer consultancy and
support 95,544 - 95,544 87,344
Postage 239 - 239 243
Depreciation 3,607 - 3,607 2,143
Sundries and cleaning 526 - 526 496
Bank charges 11,883 - 11,883 11,054
Telephone 7,912 - 7,912 7,622
Professional charges 27,417 - 27,417 9,413
Registration fees 189,879 - 189,879 197,926
Share of support and
governance (note 18) 449,920 - 449,920 391,581
Subscription 5,684 - 5,684 1,050
Bad debt provision - - - 939
1,565,101 1,565,101 1,413,689

Registration fees represent the cost of registering students with the University of Hertfordshire, Royal College of General Physicians, and the Association for Respiratory Technology and Physiology for our accredited courses.

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14. Cost of charitable activities – research activity

12 Months to 12 Months to
31/03/2024 31/03/2023
General General Restricted Total Total
Fund Funds
£ £ £ £
Share of support and
governance (note 18) - - - 4,037
Miscellaneous - - - 14,420
- - - 18,457

15. Cost of charitable activities – advocacy

12 Months to 12 Months to
31/03/2024 31/03/2023
General Restricted Total Total
Fund Funds
£ £ £ £
Wages, salaries and staff costs 10,545 - 10,545 26,290
Share of support and
governance (note 18) 13,915 - 13,915 8,074
24,461 - 24,461 34,364

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16. Analysis of governance and support costs

12 Months to 12 Months to
31/03/2024 31/03/2023
Support Governance Total Total
£ £ £ £
Salaries and staff costs 306,312 - 306,312 237,499
Rates 4,687 - 4,687 2,724
Heat and light 4,175 - 4,175 3,520
Travel and subsistence 192 - 192 302
Computer consultancy and
equipment - - - 7,101
Rent 57,600 - 57,600 57,600
Printing and stationery 93 - 93 1,899
Postage 11 - 11 481
Telephone - - - 323
Professional fees 7,891 - 7,891 7,625
Property maintenance 5,970 - 5,970 4,665
Sundries 14,929 - 14,929 16,053
Bank interest, charges - - 6
Conference 295 - 295 -
Depreciation 38,193 - 38,193 42,297
Insurance 3,850 2,214 6,064 5,757
Audit - 17,040 17,040 15,840
Trustee meetings - 149 149 -
Trustee expenses - 234 234 -
444,198 19,637 463,835 403,692

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17. Allocation of costs of support and governance

12 Months to 12 Months to
31/03/2024 31/03/2023
General Restricted Total Total
Fund Funds
£ £ £ £
Educational activity 449,920 - 449,920 391,581
Research activity - - - 4,037
Advocacy 13,915 - 13,915 8,074
463,835 - 463,835 403,692

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18. Total expenditure

Staff costs Depreciation Support costs Other 12 months to 12 months to
and 31/03/2024 31/03/2023
amortisation Total Total
£ £ £ £ £ £
Expenditure on Raising Funds:
Investment management fees - - - 4,532 4,532 4,317
Other expenses - - - 1,054 1,054 970
- - - 5,586 5,586 5,287
Expenditure on Charitable
Activity:
Educational activity 568,034 25,249 449,920 521,899 1,565,102 1,413,689
Research Activity - - - - - 18,457
Advocacy 10,545 - 13,915 - 24,460 34,364
578,579 25,249 463,835 521,899 1,589,562 1,466,510
Total Expenditure 578,579 25,249 463,835 527,485 1,595,148 1,471,797
Reconciliation to other Notes to
the Accounts:
Items in costs of support (note 16)
(prior to allocation) 306,312 38,193

The expenditure was £ 1,595,148 (2023: £1,471,797) of which £nil was restricted in both years.

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19. 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.

20A. Tangible fixed assets

Group Equipment, Total
fixtures and
fittings
£ £
At cost: 01 April 2023 192,717 192,717
Additions 309 309
Disposals - -
Balance: 31 March 2024 193,026 193,026
Depreciation: 01 April 2023 142,820 142,820
Charge for period 29,798 29,798
Disposals - -
Balance: 31 March 2024 172,618 172,618
Net book values:
31 March 2024 20,408 20,408
31 March 2023 49,897 49,897

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20B. Tangible fixed assets

Charity Equipment, Total
fixtures and
fittings
£ £
At cost: 01 April 2023 186,822 186,822
Additions 309 309
Disposals - -
Balance: 31 March 2024 187,131 187,131
Depreciation: 01 April 2023 136,925 136,925
Charge for period 29,798 29,798
Disposals - -
Balance: 31 March 2024 166,723 166,723
Net book values:
31 March 2024 20,408 20,408
31 March 2023 49,897 49,897

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21. Intangible fixed assets – development costs

Group: Contract Course Software and Social Total
related development website impact
intangibles costs development
£ £ £ £
At cost: 01 April
2023 140,276 47,545 58,160 23,588 269,569
Additions - 10,306 1,485 - 11,791
Disposals (140,276) - - (23,588) (163,864)
Balance: 31 March
2024 - 57,851 59,645 - 117,496
Amortised: 01 April
2023 140,276 12,846 27,734 23,588 204,444
Charged in the
period - 21,642 12,002 - 33,644
Disposals (140,276) - - (23,588) (163,864)
Balance: 31 March
2024 - 34,488 39,736 - 74,224
Net book values:
31 March 2024 - 23,363 19,909 - 43,272
31 March 2023 - 34,699 30,426 - 65,125
Charity: Course Software and Social Total
development website impact
costs development
At cost: 01 April
2023 47,545 58,160 23,588 269,569
Additions 10,306 1,485 - 11,791
Disposals - - (23,588) (23,588)
Balance: 31 March
2024 57,851 59,645 - 257,772
Amortised: 01 April
2023 12,846 27,734 23,588 204,444
Charged in the
period 21,642 12,002 - 33,644
Disposals - - (23,588) (23,588)
Balance: 31 March
2024 34,488 39,736 - 214,500
Net book values:
31 March 2024 23,363 19,909 - 43,272
31 March 2023 34,699 30,426 - 65,125

Amortisation of intangibles is charged within charitable activities.

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22. Fixed asset investments

Group: 2024 2023
£ £
Listed investments
Fair value as at 01 April 2023 - 2,262,339
Additions 2,040,100 84,535
Disposals proceeds (49,420) (2,313,160)
Realised and unrealised gains 43,910 (33,714)
Fair value at 31 March 2024 2,034,590 -
Historical cost at 31 March 2024 1,987,298 -
Fixed asset investments are represented by:
UK listed investments 2,034,590 -
Non UK listed investments - -
2,034,590 -

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

31/03/2024 31/03/2023 31/03/2023
300,000 UK Treasury 1% 22/4/24 (GBP) 299,361 -
200,000 UK Treasury 2.75% 07/09/24 (GBP) 198,234 -
200,000 UK Treasury 3.5% 22/10/25 (GBP) 197,042 -
160,000 Rathbone Ethical bond fund (GBP) 138,992 -
2,800 Blackrock ICS Ster (GBP) 316,536 -

Charity

Investments held by the Charity also include an additional £2 (2023: £2) investment in the wholly owned 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.

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23. Debtors and prepayments

Group Group Charity Charity
31/03/2024 31/03/2023 31/03/2024 31/03/2023
£ £ £ £
Trade debtors 105,038 311,764 105,038 311,764
Other debtors 2 5 2 5
Amounts owed by Group
undertakings - - 143 143
Prepayments and other
accrued income 46,237 52,551 46,237 52,551
151,277 364,320 151,420 364,463

Amounts owned by group undertaking are unsecured, interest free, have no fixed date of repayment and are repayable on demand

24. Creditors

Group Group Charity Charity
31/03/2024 31/03/2023 31/03/2024 31/03/2023
£ £ £ £
Creditors falling due within
one year
Trade creditors 73,263 106,038 73,263 106,038
Taxation and social security
costs 22,051 19,152 22,051 19,152
Other creditors 12,173 25,093 12,173 25,093
Loan 19,999 19,999 19,999 19,999
Accruals 174,303 165,428 174,303 165,428
301,789 335,710 301,789 335,710
Creditors falling due after
more than one year
Loan 41,668 61,668 41,668 61,668

Included within other creditors is an amount of £6,115 owed to UKIG (2023: £19,878), in relation to funds held on their behalf.

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25. Fees received in advance

Group Charity
£ £
At 01 April 2023 1,586,196 1,586,196
Released during period (1,347,982) (1,347,982)
Deferred during period 828,739 828,739
At 31 March 2024 (1,066,953) (1,066,953)

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26. Unrestricted funds

1 April 2023 Net Transfers 31 March
incoming 2024
resources/
(resources
expended)
in year
£ £ £ £
Group:
General fund 930,830 271,614 34,480 1,236,924
Trading subsidiaries (51) - - (51)
930,779 271,614 34,480 1,236,873
Designated funds:
Equipment, furniture,
fixtures and fittings fund 49,897 (29,489) - 20,408
Intangible fixed assets 65,125 (21,853) - 43,272
Operating fund 205,000 - (34,480) 170,520
Strategic development fund 150,000 - - 150,000
Total designated reserves 470,022 (51,342) (34,480) 384,200
Unrestricted reserves 1,400,801 220,272 - 1,621,073
Charity:
General fund 930,830 271,614 34,480 1,236,924
Designated funds:
Equipment, furniture,
fixtures and fittings fund 49,897 (29,489) - 20,408
Intangible fixed assets 65,125 (21,853) - 43,272
Operating fund 205,000 - (34,480) 170,520
Resource management
reserve - - - -
Strategic development fund 150,000 - - 150,000
Total designated reserves 470,022 (51,342) (34,480) 384,200
Unrestricted reserves 1,400,852 220,272 - 1,621,124

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.

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27. Analysis of net assets between funds

Tangible & Investments Net 31/03/2024 31/03/2023
intangible current Total Total
fixed assets /
assets (liabilities)
and
provisions
£ £ £ £
Group:
Unrestricted
funds - - - - -
Designated - - 384,200 384,200 470,022
General 63,680 2,034,590 (861,397) 1,236,873 930,779
63,380 2,034,590 (477,197) 1,621,073 1,400,801
Charity:
Unrestricted
funds - - - - -
Designated - - 384,200 384,200 470,022
General 63,680 2,034,592 (861,348) 1,236,924 930,830
63,380 2,034,592 (477,148) 1,621,124 1,400,852

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28. Commitment under operating leases

Group Group Charity Charity
31/03/2024 31/03/2023 31/03/2024 31/03/2023
£ £ £ £
Land and buildings
Within one year 48,000 48,000 48,000 48,000
Within two to five years 192,000 192,000 192,000 192,000
Within five to ten years 26,322 74,322 26,322 74,322
266,322 314,322 266,322 314,322
Fixtures and fittings
Within one year 8,909 12,585 8,909 12,585
Within two to five years 17,075 25,826 17,075 25,826
Within five to ten years - - - -
25,984 38,411 25,984 38,411

29. Capital Commitments

On 31 March 2024, the Group and Charity had no tangible or intangible capital commitment (March 2023: £Nil).

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

Group Group
31/03/2024 31/03/2023
£ £
Net expenditure for the year 220,272 (26,329)
Add back depreciation charge 29,798 33,903
Add amortisation intangible assets 33,644 19,332
Deduct investment income (44,782) (44,347)
Add losses/deduct (gains) on investments (43,910) 33,714
Decrease (increase) in debtors 213,043 (165,326)
(Decrease)/increase in creditors and provisions (573,164) 630,370
Net cash used in operating activities (165,099) 481,317

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31. Reconciliation of net income (expenditure) to net cash flow from operating activities

operating activities
£
Analysis of cash and cash equivalents:
Cash in hand at 31/03/2023 2,905,033
Movement in year (2,123,097)
Cash in hand at 31/03/2024 781,936

32. Loans

A CBIL of £100k was taken out on 22 April 2021 and is being repaid over 5 years at £2,035 per month.

33. Related Party Transactions

There were no Related Party Transactions in the periods ending 31 March 2023 or 31 March 2024.

34. Contingent Liability

Education for Health and REUK are party to a group VAT registration effective from 01 March 2015. At 31 March 2024, there was a VAT liability of £2,607 (31 March 2023: £678).

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35. Comparative information – consolidated statement of financial activities

Unrestricted Restricted 12 months to 12 months to
fund fund 31/03/2024 31/03/2023
£ £ £ £
Income and endowments
from:
Donations and legacies 86 - 86 58,491
Charitable activities 1,426,874 - 1,426,874 1,200,056
Other trading activities 7,875 - 7,875 26,361
Investments 44,347 - 44,347 56,506
Total income 1,479,182 - 1,479,182 1,315,053
Expenditure on:
Raising funds 5,287 - 5,287 14,588
Charitable activities 1,466,510 - 1,466,510 1,732,914
Total expenditure 1,471,797 - 1,471,797 1,747,502
Net (losses) gains on
investments (33,714) - (33,714) 114,459
Net movement in funds for
the year (26,329) - (26,329) (317,990)
Reconciliation of funds
Total funds brought
forward 1,427,130 - 1,427,130 1,745,120
Total funds carried
forward 1,400,801 - 1,400,801 1,427,130

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Trustees, officers and advisors

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

Board of Trustees:

Dr Robert Angus (Chairman) Retires 5 November 2024 at the end of his tenure Mrs Aileen Muir Mr Christopher Rowles Mr Mike Attwood

Dr Cathy Winfield (retires 5 November 2024 and offers herself for re-election; Chairman from 6 November 2024)

Mr Steven Landrey (resigned 30 July 2024) Ms Jackie Moore (appointed 30 July 2024) Mr Paresh Samat (appointed 30 July 2024)

Chief Executive:

Dr Linda Edwards

Senior Leadership Team, assisting Chief Executive:

Mrs Rebecca Harkcom (until 31 July 2024) Mrs Ann Saxon (until 31 December 2023) Dr Vanessa Williams (from 4 February 2024) Nick Wilkinson (from September 2023) Preeti Minhas (from 1 April 2024) Anthony Welsh (from 19 August 2024)

Company Secretary:

Mrs Rebecca Harkcom (until 18 August 2024) Anthony Welsh (from 19 August 2024)

Dr Cathy Winfield

Finance, Audit and Risk Committee:

Mr Steven Landrey (resigned 30 July 2024) Mrs Aileen Muir Mr Mike Attwood Ms Jackie Moore Mr Paresh Samat

Patrons:

Mrs Greta Barnes MBE

Legal Advisors:

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

Shakespeare Martineau Brideway House Stratford on Avon, CV37 6YX

Investment Advisors:

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

Bankers:

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

Registered Office and Principal Address:

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

Website: www.educationforhealth.org Nominations Committee:

Dr Robert Angus (retires 5 November 2024)

Auditors:

Dains Audit Ltd 2 Chamberlain Square Paradise Circus Birmingham B3 3AX

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