2025-03-31-accounts

UK CAT CONSORTIUM

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Company Registration Number: 05620264

Charity Registered Number: 1133667

The UCAT Consortium is the operating name of the UK CAT Consortium. The registered office is located at UCAT, B Floor, Medical School, University of Nottingham, Nottingham NG7 2UH

UK CAT Consortium Annual Report 2024/25

CONTENTS

INTRODUCTION FROM THE CHAIR .......................................................................................................... 2 TRUSTEES’ REPORT 2024/25 ................................................................................................................... 3 STRUCTURE, GOVERNANCE AND MANAGEMENT .............................................................................. 3 INDUCTION OF TRUSTEES ................................................................................................................... 4 MEETINGS ........................................................................................................................................... 4 UK CAT OFFICE .................................................................................................................................... 5 AUSTRALIA AND NEW ZEALAND ......................................................................................................... 5 PEARSON VUE ..................................................................................................................................... 5 RISK MANAGEMENT............................................................................................................................ 6 OBJECTIVES ......................................................................................................................................... 6 ACHIEVEMENTS AND PERFORMANCE ................................................................................................ 6 FUTURE PLANS .................................................................................................................................... 7 FINANCIAL REVIEW ................................................................................................................................. 8 2024/25 Outturn ................................................................................................................................. 8 Going Concern ..................................................................................................................................... 8 Financial Controls Document .............................................................................................................. 8 Reserves Policy .................................................................................................................................... 8 Members’ Liability .............................................................................................................................. 8 Trustees’ Responsibility Statement .................................................................................................... 8 Disclosure of Information to Auditors ................................................................................................ 9 Auditors ............................................................................................................................................... 9 INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE UK CAT CONSORTIUM ....................... 10 STATEMENT OF FINANCIAL ACTIVITIES ................................................................................................. 15 BALANCE SHEET .................................................................................................................................... 16 STATEMENT OF CASH FLOWS ............................................................................................................... 17 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 .............................. 18 CHARITY TRUSTEES ............................................................................................................................... 22 CONSORTIUM MEMBERS 2024/25 ....................................................................................................... 22 COMPANY SECRETARY .......................................................................................................................... 22 PROFESSIONAL ADVISORS..................................................................................................................... 22

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UK CAT Consortium Annual Report 2024/25

INTRODUCTION FROM THE CHAIR

I am writing this in late 2025 looking back on the 2024 testing year which this report covers. 2024 was my first full test cycle as Chair of UCAT, having taken over from Nigel Siesage in the summer of 2024. At the same time my colleagues Emma Paton and Natalie Cope took over as chairs of our Test Delivery and Test Development Groups.

In 2024 the test was delivered internationally to almost 53,000 candidates. In the UK we recorded 37,913 candidates, a rise in candidate numbers from the previous year. A further 15,000 tests were delivered by the UCATANZ consortium, who deliver the test for their institutions in Australia and New Zealand. In 2025 our numbers have continued to rise with over 41,000 UK test takers. The membership of the consortium also continues to grow with new medical and dental schools using the test in selection.

We took the decision in 2024 to remove Abstract Reasoning from the test from 2025 onwards, and made adjustments to the Decision Making, Verbal Reasoning and Quantitative Reasoning sections. This required detailed forward planning and communication with stakeholders. Despite being a significant change, implementation in 2025 went smoothly.

Zoe Nauta-Parsons has joined the UCAT Office Team as our Marketing and Communications Officer and has updated the UCAT website to make it more accessible for candidates as well as providing consortium members with useful new resources for outreach events.

Other important developments have been a review of the Access Arrangements policy to facilitate greater provision of accommodations available to candidates, and a review of the Fitness to Test Policy.

After another busy test year, we are focussing our efforts for the next cycle around further streamlining of processes and creating a stronger offer in terms of support for schools and colleges in helping their pupils prepare for their tests. We are also focussing on candidate wellbeing by simplifying communications and providing advice and support where needed.

I would like to express appreciation to my fellow Board members for their support, with particular thanks to the Board members who have retired during the last year. I am delighted to welcome new Board members as well as new consortium universities this year. And finally, I want to thank the devoted UCAT staff team who have worked with dedication through a very busy year.

Dr Amanda Hampshire, UCAT Chair

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UK CAT Consortium Annual Report 2024/25

TRUSTEES’ REPORT 2024/25

The Trustees present their annual report together with the audited financial statements of the UK CAT Consortium for the period 1 April 2024 to 31 March 2025. The annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

The UK CAT Consortium is registered with the Charity Commission under registration number 1133667. Details of the Charity’s Trustees, senior staff, bankers and professional advisors can be found towards the end of this document.

The Trustees are responsible for ensuring that, for each financial year, financial statements are prepared which give a true and fair view of the state of affairs of the Charity at the end of that year and of the incoming resources and resources expended for that year.

The UCAT Consortium is the operating name of UK CAT Consortium and all references within the accounts are to the trading name.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The UK CAT Consortium is a company limited by guarantee governed by its Articles of Association, which were revised and adopted by members in February 2021. The members of the Charity are those Universities who, having joined the UK CAT Consortium, use the test in admissions to medicine and dentistry.

The Charity Trustees comprise:

• seven persons elected by the members for a term of up to three years;

• a person nominated by Medical Schools’ Council for a term not exceeding three years;

• the Medical Schools Chief Executive;

• a person nominated by the Dental Schools’ Council for a term not exceeding three years.

In addition, the Board may from time to time appoint up to four additional persons. Such Trustees shall hold office for a term of up to three years and shall be eligible for re-appointment.

When appointing Trustees the Consortium attempts to represent the geographical spread and diversity of Members. No more than two representatives or other members of staff from any Member shall be Trustees at the same time.

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INDUCTION OF TRUSTEES

The Trustees are the Directors of the Company and are largely elected from the representatives of the members. They therefore tend to be familiar with Charity structures, objectives and operations. On appointment Trustees and representatives are provided with relevant information regarding the Charity together with recent minutes of relevant meetings and the annual report. Directors are provided with information from the Charity Commission’s website regarding their role as Trustee.

MEETINGS

The Board meets approximately every four months. The Board sets the strategic direction for the Charity. Operational matters are delegated to the Board’s sub-committees and to the staff of the organisation. The Board is responsible for:

• determining annual objectives and monitoring performance against them;

• ensuring effective organisational planning to achieve the objectives;

• monitoring resource allocation and ensuring adequate resources are available for the delivery, development of the test and research agenda;

• promoting the organisation to the outside world and to identified stakeholders;

• liaising and communicating with Consortium members to ensure their needs regarding test delivery and aspirations regarding test development are met.

There are two groups to which the Board delegates areas of work:

Test Delivery Group

The group is responsible for overseeing the logistics of delivering the test and distribution of results and recommending policy to the Board, as appropriate, on all delivery matters including:

• Setting the testing timetable on an annual basis;

• Overseeing the process of delivering the test (including the process of registration);

• Ensuring that there is sufficient capacity for candidates wishing to take the test;

• Overseeing the delivery of results to consortium medical and dental schools;

• Reviewing test delivery on an annual basis and identifying areas for improvement;

• Working with Pearson VUE to address any incidents which occur in relation to test delivery;

• Overseeing the implementation of the Communication Policy with regard to communication with candidates, schools, consortium members and external stakeholders.

Research and Development Group

The RDG works with Pearson VUE and other experts in the field to develop each of the UCAT subtests to enable them to be fit for purpose for use in admissions by medical and dental schools. To achieve this, the group:

• Receives a detailed annual report of statistics relating to each round of testing including data regarding item performance, ‘fairness’, performance of different subgroups of candidates

• Considers recommendations for changes to the test based on annual statistics or developments in computer based testing nationally and internationally

• In conjunction with the Research Panel, identifies and takes forward relevant research related to the development of the test.

The RDG creates and delivers the Research Strategy with a particular focus on:

• overseeing the governance framework for data collection and research activity;

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• maintaining the research database(s);

• commissioning and selecting short term studies to achieve UKCAT’s objectives;

• liaising with other bodies (such as Medical Schools Council, General Medical Council) on opportunities to create a linked postgraduate follow-up mechanism.

The Research Panel will act as a subgroup of the RDG with the remit of considering research proposals, monitoring the progress of research projects and reporting to the RDG.

UK CAT OFFICE

The Chief Operating Officer (COO), the Test Delivery Manager and the Marketing and Communications Coordinator are responsible for the day to day running of the test and supporting operations. They are employed through the University of Nottingham and support the work of the Consortium through a service level agreement that is reviewed on an annual basis.

The COO’s main duties include the following:

• Acting as the main contact with Pearson VUE which delivers the test on behalf of the Consortium – resolving issues directly unless the issue was significant enough to warrant escalation to the Chair or other board member.

• As Company Secretary, leading on appointment of members and Trustees, arranging induction, ensuring decisions made by the Board and Consortium are in line with the Charity articles

• Monitoring budgets and reporting on these to the Board

• Ensuring systems are in place to ensure good standards of financial management

• Leads on any liaison with solicitors, auditors and the company bank.

• Responsible for ensuring that alongside the UK CAT Administrator, the work of the Board and its sub-groups is supported and ensures that decisions are acted upon in a timely fashion.

AUSTRALIA AND NEW ZEALAND

The Consortium has an agreement with Monash University (on behalf of a Consortium of Australian and New Zealand Universities) to deliver the test in Australia and New Zealand (ANZ). This agreement has been updated in advance of the 2025 test cycle. The test was delivered successfully in 2024 to over 15,000 candidates. The relationship between the two consortia is managed through the UCAT Joint Committee (UJC) which includes three members from each Consortium.

The ANZ Consortium contribute to discussions regarding the development of the test and the two offices work closely together. The Board is working closely with ANZ Universities to facilitate greater collaboration in the coming years with a focus on mutual research interests.

PEARSON VUE

The test is delivered on the Consortium’s behalf by Pearson Driving Assessments Limited (Pearson VUE). The Consortium entered into a contract with Pearson VUE regarding the development and delivery of the test in 2006 for a period of five years. The current contract with Pearson VUE commenced on 1 January 2017 and will expire 31 December 2024; with 2024 being the last year of testing under this contract. Following a competitive tendering process Pearson VUE will continue to deliver services for a further 10 years from 2025.

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RISK MANAGEMENT

The Board reviews the UCAT Risk Register regularly. Risks are regularly assessed on an informal basis by the Board and its subcommittees with a particular focus placed upon smooth test delivery and reputation management.

The following risks have been identified by the Board:

• Universities leaving the Consortium

• Failure in delivery (significant)

• Relationship with ANZ Consortium Ends

• Decrease in candidates (external factors)

• Data breach

• Cyber attach

• Content leak

• Legal challenge

• Extreme national and international events

• Support for vulnerable candidates

• Staffing/Governance Succession Planning

OBJECTIVES

The objects for which the Charity is established are to promote and provide for the advancement of education in the United Kingdom and in particular to establish and operate tests to aid selection for admission to medical and dental degrees.

The Consortium is committed to advancing greater fairness in selection to medicine and dentistry and to the widening participation in medical and dental training of under-represented social groups. Through an ongoing programme of research the Consortium is seeking to identify the characteristics in applicants which will make them good dentists and doctors and thus to improve the quality of those who enter the professions with the ultimate aim of improving patient care.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

ACHIEVEMENTS AND PERFORMANCE

The following sections summarise activity during the 2024 test cycle (2024/25 financial year).

2024 Testing Overview

The University Clinical Aptitude Test (UCAT) was administered in 2024 from 8th July to 26th September. During this period, a total of 37,913 exams were administered (an increase of 6.4% from 2022).

Detailed analysis of the test and subgroup analysis of candidates can be found in the Technical - Report on the UK CAT Website (https://www.ucat.ac.uk/research/technical reports/).

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UK CAT Consortium Annual Report 2024/25

FUTURE PLANS

Following a review of the 2024 test cycle it was agreed to:

• Remove Abstract Reasoning from the test. Increase the number of questions in Decision Making. Adjust timings across the test. Communicate planned changes to the test (removal of Abstract Reasoning, changes to timings) to stakeholders.

• Review of Access Arrangements policy and accommodations available to candidates.

• Review of the Fitness to Test review policy in the light of experience in 2024.

Ongoing Key Aims

• Implement the new contract for service delivery commencing January 2025.

• Review processes and resource requirements in light of additional consortium/partner universities and increased candidate numbers.

• Develop emergency plans for potential significant issues as identified in the Risk Register.

• Evaluate how AI might enhance the development of the test including preparation materials.

• Work to reduce Speededness in the test to a desirable level.

• Review marketing activities and preparation materials identifying where support for widening access candidates (and advisors) can be improved.

• Create a stronger offer for schools/colleges to support students preparing for the test.

• Further focus on candidate wellbeing within processes and communications.

• Explore the potential of an additional test window to support the use of the test by other professional groups.

The Board and its sub-groups are charged with achieving the objectives outlined above. The Board monitors performance against these objectives at its regular meetings through reports from the Chairs of these groups. These objectives inform the work of the office.

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UK CAT Consortium Annual Report 2024/25

FINANCIAL REVIEW

2024/25 Outturn

The Consortium reported a surplus of £49k in 2024/25.

The Consortium continues to invest part of its reserves for the longer term in order to attract a better return on these funds. Funds are placed with the Seven Investment Management (7IM) in the 7IM Sustainable Balance Strategy.

Going Concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Financial Controls Document

The Board has approved a financial controls document which covers the governance of financial transactions within the organisation. The document is reviewed annually.

Reserves Policy

The Consortium needs financial reserves to:

• meet contractual liabilities should the organisation cease to exist. This includes redundancy pay, amounts due to creditors and commitments under leases.

• meet unexpected costs such as break down of essential office equipment, staff cover in relation to illness, maternity leave and parental leave.

• meet any legal costs defending the charity’s interest.

• replace equipment when required.

• meet the costs of one-off developments to the test or its delivery.

• meet the organisation’s fixed costs in the event of a significant fall in candidate numbers

• undertake and provide infrastructural support for a programme of research which may span several years with the costs of research varying significantly between those years.

Expenditure in 2024/25 totalled £2.9m. Current reserves stand at £1.1m (39% of annual expenditure). The Consortium aims to have reserves in the region of 25-30% of annual expenditure.

The Board of Trustees reviews the level of reserves at each Board meeting. Reserves are expected to fall in future years.

Members’ Liability

The Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up.

Trustees’ Responsibility Statement

The Trustees (who are also directors of the Consortium for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with

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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. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities Statement of Recommended Practice;

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any materials departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of Information to Auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

• so far as that Trustee is aware, there is no relevant audit information of which the charity’s auditors are unaware, and

• the Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable company's auditors are aware of that information.

Auditors

The auditors, Lakin Rose Limited, have indicated their willingness to continue in office. The Designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the Board of Trustees on 3[th] December 2025 and signed on their behalf by:

Dr Amanda Hampshire

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UK CAT Consortium Annual Report 2024/25

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE UK CAT CONSORTIUM

Opinion

We have audited the financial statements of UK CAT Consortium (the 'charity') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the balance sheet, the statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' 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 United Kingdom, including the Financial Reporting Council'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 auditors' 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

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UK CAT Consortium Annual Report 2024/25

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.

Opinion on other matters prescribed by the Companies Act 2006

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

• the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.

• the Trustees' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

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

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

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of Trustees' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report.

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, 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.

Auditors' 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 auditors'

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report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered

material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

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

• the nature of the sector, control environment and performance,

• results of our enquiries of management and those charged with governance about their own identification and assessment of the risks of irregularities;

• any matters we identified having obtained and reviewed the charitable company’s documentation of their policies and procedures relating to:

• identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance;

• detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

• the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

• the discussions among the audit engagement team and involving relevant internal specialists regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to revenue recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the charitable company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Charities Act, the UK Companies Act and UK tax legislation.

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UK CAT Consortium Annual Report 2024/25

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We identified no such laws and regulations applicable to the charitable company.

Audit response to risks identified

As a result of performing the above, we identified revenue recognition as a key audit risk related to the potential risk of fraud. Our procedures to respond to risks identified included the following:

• reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

• enquiring of management concerning actual and potential litigation and claims;

• performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

• reading minutes of meetings of those charged with governance;

• obtained an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of provisions; and

• in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members including internal specialists, and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit.

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

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UK CAT Consortium Annual Report 2024/25

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 auditors' 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Natalie Peacock (senior statutory auditor) for and on behalf of

Lakin Rose Limited

Chartered Accountants Statutory Auditors Cambridge House Camboro Business Park Girton Cambridge CB3 0QH

Date: 23 December 2025

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UK CAT Consortium Annual Report 2024/25

STATEMENT OF FINANCIAL ACTIVITIES

(Incorporating Income and Expenditure Account)

FOR THE YEAR ENDED 31 MARCH 2025

FOR THE YEAR ENDED 31 MARCH 2025
		Unrestricted	Total Funds	Total
		funds		funds
		2025	2025	2024
	Note	£	£	£
INCOME FROM
Charitable activities:
Testing fees - clinical aptitude testing		2,864,890	2,864,890	2,628,001
Membership Fees		13,000	13,000	25,000
Testing Services for Members		138,841	138,841	148,082
Investments	3	16,409	16,409	12,790
TOTAL INCOME		3,033,140	3,033,140	2,813,873
EXPENDITURE ON
Charitable activities-clinical aptitude testing		2,987,988	2,987,988	2,809,790
TOTAL EXPENDITURE		2,987,988	2,987,988	2,809,790
NET INCOME BEFORE INVESTMENT GAINS		45,152	45,152	4,083
Net gains/(losses) on investments		3,598	3,598	19,851
NET MOVEMENT IN FUNDS		48,750	48,750	23,934
RECONCILATION OF FUNDS:
Total funds brought forward		1,087,603	1,087,603	1,063,669
Net movement in funds		48,750	48,750	23,934
TOTAL FUNDS CARRIED FORWARD		1,136,353	1,136,353	1,087,603

The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 18 to 21 form part of these financial statements.

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UK CAT Consortium Annual Report 2023/24

Registered number 05620264

BALANCE SHEET

AS AT 31 MARCH 2025

			2025		2024
	Note	£	£	£	£
FIXED ASSETS
Investments	7		344,236		341,676
CURRENT ASSETS
Debtors	8	37,614		12,905
Cash at bank		917,249		826,479
		954,863		839,479
CREDITORS:amounts falling
due within one year	9	(162,746)		(93,457)
			792,117
NET CURRENT ASSETS					745,927
TOTAL NET ASSETS			1,136,353		1,087,603
CHARITY FUNDS
			1,136,353
Unrestricted funds					1,087,603
TOTAL FUNDS			1,136,353		1,087,603

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies’ regime.

The financial statements were approved and authorised for issue by the Trustees on 3[th] December 2025

and signed on their behalf by:

Dr Amanda Hampshire

The notes on pages 18 to 21 form part of these financial statements.

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UK CAT Consortium Annual Report 2023/24

Registered number 05620264

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

		2025	2024
	Note	£	£
Cash flows from operating activities
Net cash (absorbed)/provided by operating	11	90,770	(102,146)
activities
Proceeds from sale of investments			968
Net cashprovided by investing activities			968
Change in cash and cash equivalents in theyear		90,770	(101,178)
Cash and cash equivalents brought forward		826,479	927,657
Cash and cash equivalents carried forward	12	917,249	826,479

The notes on pages 18 to 21 form part of these financial statements.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 General Information

The charity is a company limited by guarantee and is registered in England and Wales. The charity's registered office address is UK CAT, B Floor Medical School, University of Nottingham, NG7 2UH.

2 Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

UK CAT Consortium meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Company status

The charity is a company limited by guarantee. The members of the charity are the medical and dental schools who have chosen to implement the clinical aptitude test. 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.

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Candidate testing fees are recognised in the period in which testing occurs.

2.4 Expenditure

Expenditure is recognised once there is legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the Bank.

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UK CAT Consortium Annual Report 2024/25

2.6 Investments

Investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(Losses) on investments’ in the statement of financial activities incorporating income and expenditure account.

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

2.9 Fund accounting

General funds are unrestricted funds available for use at the Trustees’ discretion in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

3 INVESTMENT INCOME

3 INVESTMENT INCOME
	Unrestricted funds	Total funds	Total funds
	2025	2025	2024
	£	£	£
Bank interest receivable	11,557	11,557	8,304
Other interest receivable	4,852	4,852	4,486
	16,409	16,409	12,790
Total 2024	12,790	12,790

4 ANALYSIS OF EXPENDITURE BY ACTIVITIES

	Activities	Support	Total funds	Total funds
	undertaken directly	costs
	2025	2025	2025	2024
	£	£	£	£
Expenditure on charitable activities	2,602,502	385,486	2,987,988	2,809,790
Total 2024	2,406,203	403,587	2,809,790
Analysis of direct costs
		Activities	Total funds	Total funds
		2025	2025	2024
		£	£	£
Testing provider’s charges – testing		2,519,963	2,519,963	2,308,890
Testing provider’s charges–other		82,539	82,539	97,313
		2,602,502	2,602,502	2,406,203
Total 2024		2,406,203	2,406,203

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UK CAT Consortium Annual Report 2024/25

Analysis of support costs

Analysis of support costs
	Activities	Total funds	Total funds
	2025	2025		2024
	£	£		£
Office and administration recharges	214,263	214,263	229,238
Data management	22,732	22,732		20,640
Hotels, travel and subsistence	4,064	4,064		4,115
Meetings and hospitality	5,934	5,934		5,096
Premises	41,375	41,375		47,189
Research	65,527	65,527		17,106
Sundry expenses	6,847	6,847		10,122
Legal fees	4,953	4,953		45,613
Insurance	3,552	3,552		3,232
Bank charges	4	4		3
Computer and website	5,892	5,892		11,100
Investment Management fees	2,913	2,913		2,843
Auditors' remuneration	7,430	7,430		7,290
Total 2025	385,486	385,486	403,587
Total 2024	403,587	403,587
5 AUDITORS’ REMUNERATION
			2025	2024
			£	£
Feespayable to the Charity’s auditors for the audit of the Charity’s annual accounts			7,430	7,290

6 STAFF COSTS

The charity has no employees other than the Trustees, who did not receive any remuneration (2024 - £NIL).

No employee received remuneration amounting to more than £60,000 in either year.

During the year ended 31 March 2025, expenses totalling £1,109 were reimbursed to 7 trustees (2024 - £860 to 5 trustees).

7 FIXED ASSET INVESTMENTS

7 FIXED ASSET INVESTMENTS
	Listed securities
Market Value	£
At 1 April 2024	341,676
Disposals	(1,038)
Revaluation	3,598
At 31 March 2025	344,236
Analysis of listed investments
Equities	202,937
Fixed interest	122,806
Cash and money market	6,745
Other	11,748
Total	344,236
Historic cost	296,824

8 DEBTORS

8 DEBTORS
	2025	2024
	£	£
Due within one year
Trade debtors	5,000
Other debtors	32,614	32,614
	37,614	12,905

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UK CAT Consortium Annual Report 2024/25

9 CREDITORS: Amounts falling due within one year

	2025	2024
	£	£
Accruals and deferred income	162,746	93,457

10 SUMMARY OF FUNDS

SUMMARY OF FUNDS – CURRENT YEAR

	Balance at 1			Gains/	Balance as at
	April 2024	Income	Expenditure	(Losses)	31 March 2025
	£	£	£	£	£
General Funds	1,087,603	3,033,140	(2,987,988)	3,598	1,136,353
SUMMARY OF FUNDS – PRIOR YEAR
	Balance at 1			Gains/	Balance as at
	April 2023	Income	Expenditure	(Losses)	31 March 2024
	£	£	£	£	£
General funds	1,063,669	2,813,873	(2,809,790)	19,851	1,087,603

11 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES

	2025	2024
	£	£
Net income for the year (as per Statement of Financial Activities)	48,750	23,934
Adjustments for:
Decrease/(increase) in market value of investments	(2,560)	(19,851)
Decrease/(increase) in debtors	(24,648)	(1,259)
Increase/(decrease)in creditors	69,289	(104,970)
Net cash(used in)/provided by operating activities	90,831	(102,146)

12 ANALYSIS OF CASH AND CASH EQUIVALENTS

	2025	2024
	£	£
Cash at bank and in hand	917,249	826,479
Total	917,249	826,479

13 ANALYSIS OF CHANGES IN NET DEBT

	At 1 April	Cash	At 31 March
	2024	flows	2025
	£	£	£
Cash at bank and in hand	826,479	90,770	917,249
Total	826,479	90,770	917,249

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UK CAT Consortium Annual Report 2024/25

CHARITY TRUSTEES

Dr Amanda Hampshire, University of Nottingham, Chair (from 1 July 2024)

Dr Lyndon Cabot, King’s College London (resigned 1 July 2024)

Dr Ching-Wa Chung, University of Aberdeen

Dr Natalie Cope, Keele University

Dr Simon Cork, Anglia Ruskin University

Dr Claudia Cunningham, University of Central Lancashire Professor Ian Fussell, University of Exeter (resigned 8 January 2025)

Dr Maria Hayfron-Benjamin, Queen Mary, University of London Ms Beverley Ireland, University of Leicester Dr Courtney Krstic (appointed 8 January 2025) Dr David O’Brien, University of Nottingham Ms Emma Paton, University of Bristol Dr Katie Petty Saphon, Medical Schools Council

Dr Nana Sartania, University of Glasgow

Mr Nigel Siesage, University of Leicester, Chair (resigned 1 July 2024)

Dr Fiona Stewart, University of Dundee (retired 30 September 2025)

CONSORTIUM MEMBERS 2024/25

University of Aberdeen University of Glasgow University of Plymouth Anglia Ruskin University University of Greater Manchester Portsmouth University Aston University University of Hertfordshire Queen Mary, University of London Bangor University Hull York Medical School Queen’s University, Belfast University of Birmingham Imperial College London University of Sheffield Brighton & Sussex Medical School Keele University University of Southampton University of Bristol Kent & Medway Medical School University of St Andrews Brunel University King’s College London City St George’s, University of London University of Cambridge Lancaster University St Mary’s University, Twickenham Cardiff University University of Leeds University of Sunderland University of Central Lancashire University of Leicester University of Surrey University of Chester University of Lincoln Swansea University University of Dundee University of Liverpool University College London University of East Anglia University of Manchester University of Warwick Edge Hill University University of Newcastle University of Worcester University of Edinburgh University of Nottingham University of Exeter University of Oxford

COMPANY SECRETARY

Significant elements of day to day management are delegated to the Chief Operating Officer and Company Secretary, Dr Rachel Greatrix.

PROFESSIONAL ADVISORS

Bank: TSB, PO Box 373, Leeds LS14 9CG Solicitors: Browne Jacobson, Mowbray House, Castle Meadow Road, Nottingham NG2 1BJ Auditors: Lakin Rose Limited, Cambridge House, Camboro Business Park, Cambridge CB3 0QH

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