BRrnSH PSYCHOTHERAPY FOUNDATION AN coNrENTS Page Reference and Administrative Detsils Chair's Statement Trustees. Report Independent Auditorfs Report statement of Financial Activities 29 Balance Sh￿t 30 Statement of Cash Flows 31 Notes to the Financial Ststements 32 BRMSH PSYCHOTHERAPY FOUNDATION TRusfEEY REPORT AND FINAPICIAL sfATEMEPITS FOR THE YEAR ENDED 31 MARCH 2021 REFERENCE AND ADMINISTrATIVE INFORMATION The Company was fom)ed on 3 Ortober 2012 and commenced operations on l April 2013, on which date the activities and assets of the British Association of Psychotherapists, the Lincoln Clinic and Centre for Psychotherapy and the London Centre for Psythotherapy were merged through trdnsfer to this newly fomied company. D1￿CtorS The board members who served as directors from l April 2020 were as follows: David Vincent (Chair) Jean Carr (Chair) Mary Pat Campbell (Wice Chair) Ruth Calland Liza Catan Joanne de Waal Jean Knox Hester McFarlan &)lomon Eleanor Mongey Annie Peskin Su5annah Rose Sarah Spitzfaden Ferelyth Watt Appointed 21 November 2020 Passed away 4 October 2020 AptK)inted 21 November 2020 Appointed 21 November 2020 Aptx)inted 21 November 2020 Apwinted 21 November 2020 Resigned 21 November 2020 Aptx)inted 21 November 2020 Appointed 21 November 2020 Appointed 21 November 2020 Chief Executive Officer Michael Cknen, Int8im CEO (May 2018 to December 2020) Jan Barlow, CEO (from December 2020) Principal & Registered Offi 37 Mapesbury Road London NW2 4HJ Charity Registration Number 1150806 Company Number 08238969 BRITISH PSYCHOTHERAPY FOUNDATION TRusfEES' REPORT AND FINANCIAL ￿ATEmENTs FOR THE YEAR ENDED 31 MARCH 2021 Bankers The Co-operative Bank P.O.Box Skdmetsdale Lancs WN86 Investment Manwjers Sarasin & Partners LLP 250 Juxon House 100 St Paul's Churchyard London EC4M 8BU CCLA Senator House 85 Queen Victoria London EC4V 4 CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Triodos Bank Deanery Road Bristol BSI SAS Solicitors Auditors Russell-cooke 2 Fljtney Hill Puthey London SW15 6AB Knox Cropper LLP Chartered Accountants 65 Leadenhall Street London EC3A 2AD Bates Wells 10 Queen Street Place London EC4R 1 BE BRThISH PgICHOTHERAPY FOUNDATION TRUSTEES, REPORT AND FIIIANaAL ￿ATEmENTs FOR THE YEAR ENDED 31 MARCH 2021 Chair's statement 2020121 was a year when we moumed the loss of some dose colleagues, as well as welcoming a number of new tnjstees and stsff to the organisation, all set against a backdrop of a global pandemic, the impart of which changed all of our lives for a far longer period than any of us could have imagined at the start of the first national lockdown in March 2020. In October 2020, Jean Carr, the thair of bpf, passed away following diagnosis of a very aggressive cancer. The speed and nature of her passing carne as an enormous shock to everyone in the organisation, not least those who knew her well. She made a huge contribution to the bpfand she will be much missed. I would like to record thanks on behalf of the whole organisation to Mary Pat Campbell, Eleanor Mongey, Hester Solornon and Ferelyth WaL the tnjstees on the board at the time of Jean's passing, for their enormous contribution in keeping the organisation moving forward at that time rn June 2021 bpf also mourned the loss of Laura Paynter, the IPCAPA Business Manager, also following diagnosis of an aggre￿1Ve cancer, Laura had worked for the organisation for many years, and her loss has been felt deeply by colleagues across the whole organisation. At the November 2020 AGM, nine new trustees were elect&1 to the knrd, including myself as the new Chair, bringing the total number of curTent ljustees to eleven. We have been meeting monthly and working hard to get to know each other and work effectivdy as a team. In December 2020 we also welcomed Jan Badow as bpfs new Chief Executive, taking over from Mike Owen who had been Interim Chief Executive since May 2018. We would like to record our thanks to Mike for all his work during his t￿0 and a half years with the organisation. In December 2020 bpfs Finance Director, Bella Hailemariam, also left the organisation and we would like to thank her for all her worf( during her many years at bpf We have been pleased to have John Axon wortjng with ￿ as Interim Finance Director sin her departu￿. The Covid-19 pandemic and the first national lockdown at the end of March 2020 necessitated all bpfs activities being mov￿1 online and staff needing to work from home, which has continued into the new finanoal year. As a result, in many ways 2020121 was a year of ensuring the charity could continue to ftjnction effectively given Government restrirtions on individuals and organisations. I would like to thank everyone in the organisation, including staff, members, and teaching staff. for their enormous contribution in supporting the new ways of working. The move to online worknng was a success for bpf We saw the number of trainee5 and participants in our courses increase, as providing teaching online attracted participants from further afield, as the need tt) travel to London for teaching was removed. As life returns to normal, we will consider carefully the ways in which we can continue to attract participants from outside Greater London and the South East. TRusfEEg REP(hRT AND FIIIANCIAL sfATEMEPITS FOR THE YEAR ENDED 31 MARCH 2021 The move to working and delivering all bpfs activttles online highlighted the limitation5 of bpfs existing ￿ systems and the need to upgrade and update them. In April 2021 we were therefore pleased to move to a new aoud-based wem, as well as upgrading our hardware aThJ connectivity. As with all systems utmjrades, there were some teething problems in the eariy days, but the upgrade has improved s￿d and reliability of system access for staff and has future-proofed our ￿. The board continued to be mindftjl of the ongoing need to redu￿ the organlsation's financial deficit. In recent yeats overhead costs have been redU￿d significandy, including reducing staff numbers. However, the board recognises that if rt continues to cut infrastructure, it will ultimately affect the organisation s abilty to function effectively. The L¥)ard has therefore decided that the charity needs to fcKus its efforts on growing the organisatlon and increasing its income as opposed to just cutting costs. It intends to aptM)int to a new created post of Training & Membership Director to assst with this task during 2021122. J.-- David Vincent Chair BRI￿sH PSYCHOTHERAPY FOUIIDATION TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 The Trust*s, who are the trustees of the charitable company for the purpose of charity law and directors for the purpose of company law, present their statutory report together with the financial statements of the British Psychotherapy Foundation Ibpf) for the year ended 31 March 2021. The bpf (the charity) is constituted as a company limited by guarantee and is therefore governed by a Memorandum and Articles of Association dated 3 October 2012 which was amended at a General Meeting on 13 December 2014 and on 19 July 2019. It is registered as a charity with the Charity Commission. This report has been prepared in accordance with Part VllI of the Charities Act 2011 and constitutes a directorg report for the purtN)ses of company law. The financial statements have been prepared in accordan￿ with the principal accounting poliaes set (Kjt on pages 32 and 33 and comply with the charivs Memorandum and Articles of Association, the Charities Act 2011, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial ststements In accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 102 second edition). The objerts of the Charity (the "Objects? are for the public benefit to preseNe the mental health and relieve mental distress particularly through psychotherapy in all or any of its aspects by.. advancing the education, training, study and practice of analytic therapies and psychoanalysis (the ￿lerapY,1. increasing the public knowledge of therapies; advancing the therapies as a method of treatment; advancing the practice of the theTrpies as a profession; providing easier and affordable access to psychotherapy treatment; and undertaking any other charitable purp)se for the public benefit approved by the Trustees. The charity met its objectives during the period. Organlsatlonal and decislon making Structure The bpf tx)ard has overall responsibility for the charity and meets regularly to ensure the affairs of the charity are effectively managed. It holds additional meetings to address specific strategic and govemance matters. It delegates day-to-day operational management to a Chief Executive Officer, who is assisted by full and part time stsff, volunt￿r5 and a number of member-based cixnmittees and working groups in delivering the organisation's activitses. BRITISH PSYCHOTHERAPY FOUNDATION TRusfEES' REPORT AND FINANCIAL STATEMEIITS FOR THE YEAR ENDED 31 MARCH 2021 Psychotherapy training is conducted across three psychotherapy disaplines: Psychoanalyknc Psychotherapy. Jungian Analysis; and Child and Adolescent Psychotherapy. Three training programmes rooted in each of these disciplines are primarily delivered via three specific associations within the bpf, with wider cross-disciplinary training programmes also offered by the bpf. The board ensures it has the systems and procedures in pla￿ to be able to properly exerase its responsibilities and authority over the activib'es of its assoaations. Trustee induction The bpf is commrtted to ensuring that tts tnjstees receive a good induction as part of assuming the responsibility of trustee of a charity and a director of a limited company. It believes that a good induction p￿pare$ new trustees to be effective. Opportunities for new trustees to spend time in the organisation including shadowing staff are provided. Supplying new trLStees with key inforniation about the organisation and about the responsibilities of being a trustee is at the heart of the induction. The information supplied includes constitutional and governance documents, Charity Commission guidar)ce, information about the oryanisation, its finances, and administration. Relationships with stakeholders and partners The rnain stakeholders of the organisation are ts professional psychotherapists and trainee psychotherapy members, students on its Mk courses and patients. Other stakeholders are people who participate in bpf courses, events and conferences, and funders. The major funders are Health Education England (HEE) which fvnds the child and adolescent training, and London University (Birkbeck College), which funds the Msc in Psychodynamics of Human Development. The dinical doctorate offered to those undertaking the Child and Adolescent Training 15 in partnership wtth the Anna Freud National Centre for Children and Families and University College London (UCL). The bpfhas a partnership with the University of Exeter for an Msc in Psychological Therapies Practi￿ and Research IPsychodynamiclPsychoanalytic Therapy) which then leads inlo the Qualifying Training in Psychodynamic Psychotherapy or Qualifying Training in Psychoanalytic Therapy. Members are bpf qualffied psychotheraptsts, ￿tired bpf psychotherapists and trainee psychotherapists. There were 540 members at 31 March 2021. Qualified members are registered with the British Psychoanalytic Counal (BPC) or the Assoaation of Child Psychotherapists (ACP) and fvlly confom to their requirements. Jungian analysts are also members of the International Ass(Kiation for Analytical Psychology (IAAP). Child and Adolescent psychotherapy trainees work within the NHS, usually in fvnded posts, and are eligible for NHS worf( on qualification. Members receive a regular e-newsletter with information a￿ut developments and activities in the organisation and relevant events for professionals. They also re￿1ve regular mailings BRITISH PSYCHOTHERAPY FOUNDATION TRUSTEES REPORT AND FINAriaAL STATEMENTS FOR THE YEAR ENDED 31 WIRCH 2021 and invitstions to attend membe￿, meetings where matters of topical importance are discussed. Such regular communication helps to ensu￿ that the rnembership is informed and up to date with internal and external aCtiv￿leS and developments. Contribution of Volunteers gnificant numbers of memters contribute generoU￿Y of their time and expertise in a voluntary capaoty to deliver education and trainings, to prowde CPD activities for members, and to provide a range of public engagement activities. These contributions are important in enabling the bpfto retsin its standing in the wortd of psychotherapy and to contribute to the work of the BPC. These members bring a wide array of expertise as they indude n( only psychotherapists but also worker5 in a variety of professions including medicine, psychology and academia, or in other organisations such as in the private sector, and public services such as the NHS and social seNices. The vision The bpfs vision is of a s￿iety in whith psythotherapy is available to everyone who needs it to promote their emotional well-being and mental health. The mission The bpls mission is to be a vibrant professonal organisation, providing access to psychotherapy inft)rmation and treatsnent for the pUt￿lc, comprehensive supwrt to our members, and education and training to the next generation of psychotherapists. It aims to ensure that its activitie5: are accessible to people from all sectors of British society who are interested in accessing psychotherapy treatment, training or understanding; offer a range of high quality, specialist clinical training and academic seNices; demonstrBte a commitment to equality and diversity. Values The bpfs leading principles include the followng: Equality & faimess The bpf is committed to the development and implementstion of policies and procedures that ensure faimess, with the aims of promoting equality, valuing diversity and removing any unfair discrimination shaping its activities. Accountability The bpf is committed to communicating dearly how it has tsken its members, trainees, pats'ents, staff and other stakeholders, views into consideration in developing and managing its attivities and policies. The bpf Board is committed to demonstrating high standards of governance. BRrrisH PSYCHOTHERAPY FOUNDATION TRusfEES' REPORT AND FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Ellcienry The bpf is committed to fostering a culture of innovation and continuous improvemen( using its resources efficiently and 5￿kIng to achieve further efficienaes without compromising the quality of its artivities. Public Benefit The bpf meets its requirement for public benefit by training psythotherapists who help to alleviate the mental and psychological distress of members of the public. The bpfalso offers low cost psychotherapy for members of the public who would not normally be able to afford these treatments. The trustees are mindful of the Charity Commission's guidance on public benefit when planning its acttvities. The bpfaims to achieve public benefit through the following: improving public knowI￿1ge and understanding of the benefits of psychotherapy by providing infomiation, and by offering a range of courses, events and outreach work in statutory and non-statutory settings. This educational work mt only aims to inform the public about psychotherapy but makes available to the public perspettives and ways of thinking that help people manage complex areas of their own lives such as relationships, parenting, ernployment, bereavement, trauma and retirement. engaging in research on the pr￿eSSeS invotved in psychotherapy and disseminating research through the British Journal of Psychotherapy, other journals and professional events. This promotes the growth of knowledge about the theory and practice of psychotherapy and improves the practice of psYc￿therapIStS who treat members of the public. providing access to treatment, aimed at relieving mental distress and promoting emotional well being and mental health within the UK. providing rigorous training and continuing professional development which aims to ensure that there is a continuing supply of well-qualified psychotherapists available to worf( in the txjblic sector, voluntary sector and in private practice for the benefit of members of the public who need treatment. delivering training for the continuing development of psychotherapists, short courses and conferences open to other professionals in the rnentsl health and related fields. These encourage the deveiopment of skills and understanding in other pmfessionals working directy with members of the public in a range of settings. aiming to be accessible to the general public, i.e. anyone interested in psychotherapy treatment or trdining, regardless of background and location. The organisation provides a Iow-COSt treatrnent scheme for patients and bursaries for trainees in need of finanoal support. BRITISH PSYCHOThERAPY FOUNDATION TRUStEES' REPORT AND FINANCtAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Objectives, Achbevements, Impact and Future Plans Objectives The bpf5 aim is to promote, provide and increase, for the benefit of the public, the knowledge and skills relating to the practice of psychotherapy and thereby to relieve mental distress and improve mental wellbeing. To achieve this it provides trdining and post- qualification opporbJnities for people wanbng to practi5e as psychotherapists. Its members are registered with, and regulated by, the British PsychoanalytFC Council or the Association of Child Psychotherapists. The bpf seeks to a(fvance psythotherapy as a profession in all or any of its aspects through training and development of individual psychotherapists as wdl as liaison with other statutory and voluntary oryanisations in this field. The bpfalso provides psychotherapy to member5 of the public, including a Low Fee seNice for people who might not otheNise be able to access psychotherapy SerVi￿s. The bpfalso provides courses for continuous professional development of psychotherapists and other professional and mental health practitioners, together with events and courses aimed at giving an understanding of psychotherapy and tts applicdtion. Activities & Achievements Membership & EduLZtion There are three associations within bpfcovering a range of modalities with specific training and career paths: Independent Wchoanalytic Child & Adolescent Psychotherapy Association; British Jungian Analytic Association: and Psychoanalybc Psychotherapy Association. Independent PsvdK￿na1YtlC Child & Adolescent Psychotherapy Assoaation (IPCAPAI Training A total of 41 trainees progressed through their four years of training with IPCAPA in the year. Eight final year trainees (one who retumed from matemty leave and joined that year group) successfully achieved their clinical graduation and became eligible for ACP and bpf full membership. All trainees in other years have progressed well with their dinical and academic requirements. All graduates from our doctoral programme with UCL, apart from than those on maternity leave, gained posts in Child and Adolescent Mental Health Services or in charities working with young people. io BRITISH PSYCHOTHERAPY FOUNDATION TRusfEES' REPORT AND FINANCIAL sfATEMErirs FOR THE YEAR ENDEO 31 MARCH 2021 Two of the 2019 graduates and one of the 2020 graduates achieved their doctorates in the timescale of this report, while others a￿ due to submit their theses in the coming year. Interest in issues of diversity has come more to the fore. Increasing the diversity of the trainees, particulady with respert to ethnicity and geographical location, has become a focus for IPCAPA, along with all ACP recognised training sch(K)Is. This includes ensuring that the cU￿1cUluM adequately reflects and promotes the diversty of our communities in the U In the face of the Covid-19 I(￿kdown, fdlowing a tremendous amount of hard worK it has been possible to continue to deliver the training online, and to supwrt the trainees who have also had to work remotely many of their patients. The Covid-19 pandemic presented IPCAPA with huge challenges in tem) of delivering the training. IPCAPA has responded with tremendous commitrnent and effort from all staff, showing their capacity for adaptsbility, re￿urCefUlnesS and creativity in the face of uncertainty on all frortts. The challenges were ones related to the technology required with minimal infrastructure for such a need, and the difficulties of continuing to provide an experience of continuity, reliability and containment for the trainees in the context of personal and professional challenges for trainees and staff. Other activity The IPCAPA Executive met regularly during this peri(Kl, working to support the Clinical Course Direttor and colleagues implement the changes necessary for the training to continue effectively. Very sadly we lost a member of our Exe￿tive to Illn￿ during this period. She was a bpf member who contributed to the training through teaching and her work supporting trainees during their training, as a Progress Advisor. She was also an important link between the IPCAPA training and the BJAA. Another member of the Executive became seriously ill and had to withdraw from the Executive and her senior post at the bpf, specifically designated to manage the IPCAPA training. These sad events have had an emotional impact on stsff and trainees who have needed additional support. In addition, IPCAPA staff have stepped in to tske up as much of the postholder's work as possible. This is very much appreciated. In relation to the teaching work and Progress Advisor role, other staff from within the teaching pool have taken up her duties with longer temi arrangements then put in place for the next intake in October 2021. In relation to the senior postholder, staff alreaty in post took up the weight of her work during her illness. This post will advertised and appointed to in the coming months, in order to ensure that the IPCAPA training is in a strong position to continue to provide a high-quality training in a highly competitive NHS commissioning environment. li BRfTtSH PSYCHOTHERAPY FOUf4DATION TRiisfEES REPORT AND FIMANCIAL ￿ATEmEl1Ts FOR THE YEAR ENDED 31 MARCH 2021 In addition, the current Clinical Course Director, who had been in post for 8 years, retired in mid-SeptemEkr 2021. This essential and inlluential role was adV￿tiSed and successfully recruited to. IPCAPA members contributed to the planning and pre*ntation of papers at the highly successful bpf conference, "The Wiolent Human" In addition, IPCAPA will be strongly presented in the organisation, co-chairing and gsving presentations at the Assooation of Child Psychotherapy Annual Conference in lune. Two IPCAPA trainees started an inmvative series called "Without Borders" which was designed to share and explore the global dIVe￿ity of psychoanalytic theory and prdctice across the bpf This began as a piloL with a view to being developed further, perhaps extending to audiences beyond the bpf The series has been well received and involved IPCAPA members as well as others from the bpf. We hope to encourage more bpFwide sharing of expertise in relation to our thinking and clinical practice. British Jungian Analytic Ass(Kiation (BJM) The BJAA Jungian analytic adult training Cu￿en￿Y has seven trainees, with t￿0 or three who will hopefully qualrfy 2021, and one new trainee wssibly starting in the Autumn tem. Despite low numbers, BJAA continues to deliver a high quality training program that has led to a flourishing rdationship with IPCAPA trdinees on the Jungian pathway, who now choose to attend the majority of BJAA theory Semina￿ in addition to their own academic programme. The bpfopen Day was held online in May and a joint presentation wa5 given with the ￿air of PPA, which was well received and has led to a number of enquiries regarding training with BJAA. Our new BPC external examiner, Anna Bravesmith, is now in post and is in the process of preparing her first report. The BJAA training and postgraduate committee faces challenges in recruitment and resources that have led us to rethink the strl￿Ure of the committee, with a bi-monthly rolling Chair that the trainee cohort have responded to favourably. We are also restructuring other roles in the committee to make them more flexible and less onerous, and more attractive to new members. There is also much energy going into modemising the curriculum, which will benefit both current and future trainees. In 2020121 we approved two Training Analysts, namely David Gardiner and Jane Johnson. Psychoanalytic Psychotherapy Association (PPA) inlng Committee vid-19 The last year has been challenging for the PPA training, needing to adapt to the pandemic and modify the model of training accordingly. The Training Committee had to make multiple decisions very rapidly to ensure the continuation of the training in a forniat that would be safe for our train&s and their patients. 12 BRMSH PSYCHOTHERAPY FOUNDATION TRUSTEES. REPORT AND FINANCIAL ￿ATENE11Ts FOR YEAR ENDED 31 MARCH 2021 We moved within a week from in-pewn to on-line seminars. Working groups within the Training Committee developed guidelines for workn'ng remotely and for retuming to work in person and these were orculated to all trainees. New& uali Trainees We had a particularly large intske of trainees for the ftjll training for 2021, with 7 new trainees who started in January 2021, and one MES (Modified Entry Scheme) trainee, while there are others currently undergoing selection interviews. There are currently 29 trainees on the PPA course, both on the fvll training and MES. Eight new members qualified in November 2020, and five more have qualified since then. mina dsu As a result of the move to digital workingi we have recognised the potential to continue to run some seminars remotely even after we are able to retum to in-per50n training. A survey with trainees was carried out. They are keen to have a hybrid/melded model of training involving both on-line and in-person seminars. Pilot stud online su This will give trainees access to training supervisors who are based in area5 that they would find hard to get to in pers)n on a weekly basis. In light of this, we plan to pilot a new model of training (ontr Covid restrictions are lifted and the situation is Safer), which will involve both on-line and in-person seminar5. The pilotwill run fortwo tenrjs, during which ts'me we will evaluate what works well, and what less so, and this will inform the m(Klel that we agree for de5ivery of the training. A review of the curriculum and other aspects of the training is being carried out to ensure that it is'ylt for purpose" in a multi-ethnic, multi-culturdl diverse sooety in the 21st Century. We are in the process of developing a 'Yaculty" of regular seminar leader5lteachers who will contribute to this. We ￿Main keen to ensure that our training is accessible to all who may wish to train. External Examiner The training has ha(J ex￿lIent support for the last three and a half years from our external examiner who is due to step down from this role at the end of this year. We are looknng to recnjit someone to replace her. She has kindly offered to help with this. The PPA tutor group is working to capacity, and with s(wne tutors planning to retire from the training committee in the next year or ￿0, we will need to recruit more PPA members into the group as tutor5 and committee members, particularly if our intake continues to grow. Selectio BIUTISH PSYCHOTHERAPY FOUNDATION TRUSTEES, REPORT AND FINANCIAL STATEMEIITS FOR THE YEAR EIIDED 31 MARCH 2021 This has for g)me years been co￿)rdinated by Ann Morris, who is now wishing to step back. We need to recruit someone new into this role. R&accreditation PPA are due to undergo re-accreditation by the BPC in 2022. Throughoutthis difficult time, the committee and the trainees have been supported by Lydia Hotyn, the PPA Training Co-ordinator, who has been key to the success of these changes. Our thanks go to her. Therapist & Supervisors, Committee Following the departure of three committee members, two new members have joined. The membership is now: Karl Figlio (thair), Richard Morgan-jones, Susan Rodgers and Christina Widand. The work of this committee has con&sted mainly of the routine prO￿Sing of applications and continually reviewing our procedures. In the past year: 10 applications pr(Kessed 6 applications accepted, of which I has deaded rK)t to join the list at this time 3 applications rejected l application pending 7 enquiries are pending, at various stage5 of prtrapplication. Post Qualifying Committee The new Advanced Clinical Course which leads to Senior Membership of the PPA has been organised and will run from January 2022 to December 2023. The curriculum has been agreed, seminar leaders appointed and the course has been wjvertised. It is hoped that participants will benefit from new arrangements, induding Saturday seminars and online teaching. The Committee is exploring the idea of reviving a modest programme of CPD events, in conjunction with the PPA Training Committee. The committee hopes to provide courses of interest to recenljy qualified PPA members, and to longer qualified members towards senior membership in the future. IPA Working Group The IPA (International Psychoanalytic AssociatKsn) worksng group has met a couple of time5 this year to collate and consider the various IPA guidelines and procedures for making an application for IPA accreditation of the PPA intensive training. The working group has had an informal discussion with the Head of Intemational New &oups at the IPA. The history of the split of the BPA was discussed and highlighted as something we do not want to repeat. The working group is waiting to hear back from the IPA and has followed up with them in July 2021. 14 BRMSH PSYCHOTHERAPY FOUNDATION TRUSTEEY REPORT AND FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Liaison New PPA Members A virtual meeting wa5 he4d in May 2021 for those PPA members who have qualified in the last two years. Members of the Executive met nine attendees to welcome them and let them know more about the workings of the PPA and the bpf and provide a forum for ne￿OrkIng with each other. The event was a success and the feedback p)sitive. It was agr￿d that events like this, aimed at helting new members to feel a sense of belonging and a space in which to ne￿ork, were important. Further meetings are being planned to take place twice or three times a year. Msc Psythodynamics of Human Development The Msc Psychodynamics of Human Development is a t￿0 year, part-time course consisting of the working partnership be￿een the bpf and the Psychosocial Studies Department at Birkbeck College, as well as the collaboration I￿￿een the Psychoanalytic and Jungian streams of the course. Enrolments in the academic year 2020121 spanned 47 students across tK)th years of the course.. 20 students enrolled in 2019 prryressed to the second year, 27 students enrolled in September 2020. Recruitment for 2021122 suggests a strong cohort will begin in September. Five students were expected to graduate with an Msc this year, completing dissertations on a wide range of topics induding Identity, Politics and Brexit, Death, Fascination for Evil, Eco- psychology and others. Four stLKlents are expected to graduate with a PgDip. Ten students have deferred the submission of their dissertation and are expected to graduate next year. Students deferring submission of their dissertation have all submitted Mitigating Circumstances claims. All were imparted by the pandemic, either with home teaching of children, loss of work, etc. The 2020121 academic year has been marked by the ongoing pandemic, recu￿Ing lockdowns and the dosure of the College and the bpf building. All the teaching this academic year was done online. We will continue to teach remotely for at least the first term of the new academic year. Following the March 2020 lockdown, all Infant ObseNations were (k)ne remotely. Following the governments latest guidelines on social distanang the Msc is now recommending that observations should tske place in person, if families allow it. The change is family led. Students are asked to revert to online observations if it is not F(Jssible to meet with the farnily in person. Feedback from students over the last academic year has bew very pO￿tiVe about the quality of teaching, including the range of topics covered in the syllabus, but also about the transformative impact of the course due to its experiential components. Comments from Is BRMSH PSYCHOTHERAPY FOUIIDATIOM TRUSTEES REPORT AND FIIIANCIAL StATEMEpifs FOR THE YEAR ENDED 31 MARCH 2021 the two appointed external examiners have been equally favourable regarding quality of assessed papers and the coherent structure of the course. Students have expressed reg￿t that they We￿ not able to come together when lockdown ended. We have encouraged them to create opportunities to meet and work together outside of the course. The bpf and the Colbege are in discussion over offering a blended teaching of online weekly seminars and onstte sttjty days. This is not yet confimied. "Psychotherapy Today" course: An Introduction to Psychoanalytic and Jungian thought This course provides a general introduction to psychoanalytic and Jungian thought and is airned at people who might be thinking of beginning training in these fields or members of the public who simply would like to learn more about the subject in temis of how the ideas relate to society and personal development. The course has been run in the forniat of ten Saturdays over a period of nine months. Over the academic year 2020121 the course managed to attract 31 students in total. Two students withdrew half way through the course and 29 students were retained. The students have given the course and those who run it very positive feedback. They have all expressed how held they felt by the course leaders, rnentors and in tum the bpf. The course was run suc￿SsfUllY online due to the coronavirus pandemic and this allowed students from different parts of the country to join. For the next academic year, the staff would like to offer a blended learning option so the course can still be made available on- line when the bpfhouse re-opens and study day5 can be take place face to face. Some of the students indicated their wsh to seek to clinically train in some capacity and many have gone on to aC￿pt ￿aCeS on the Birkbeck and Exeter MSC courses run in conjunrtion with the bpf. There is interest from 5 students in the Clinical Analytic Skills course which will help bridge the gap between Psychotherapy Today and the PPA and BJAA analytic training. It was UNashi Chand, Course Leader and Coordinatorfs first year in the role and she fdt very well support& by the Psychotherapy Today team of discussion facilitstors: Sa11y Arthur, Eleanor Mongey and Toni HaNey and by Serena Willmott and Jo-anne Cadyle. Sadlyi Sally Arthur is stepting down from her role this summer, and grdteful thanks is due to her. Psychotherapy Today is currendy seeking her replacement. Options for future development of the course continue to be considered, including the opp)rtunity for accreditation. In such thinking the many, key strengths of the course must not be IOSL including providing much Intery￿rSonal infonnal contact and building of bonds of trust btheen course stLKlents, as well as the Op￿rtUnIty to get to know and tslk to varied Clinical Psychotherapists in a range of contexts. (Traditionally, many students may only have access to their Mentors virtually or by phone due to geographic distsnces). 16 BRtWlSH PSYCHOTHERAPY FOUNDATION TRusfEES' REPORT AND FINANCIAL sfATEMEMTS FOR THE YEAR ENDED 31 MARCH 2021 Following the presentation of Psychotherapy Today at the bPfC￿1Ine Open Day in the spring 2020, we also have a promotional Psychotherapy T(xfay Meet-up online Zoom event in July and September for anyone who is curious about Psychoanalytic and Jungian thinking and/or was thinking about training and wanted to explo￿ which route to take - psychoanalyiic, Jungian or other. We a￿ keen that the uptske on this meet-up is as Strong as it was last year when we attracted 93 signs ups and 3540 people attended the meeting. Scientific and Applied Activities The Scientific and Applied Artivities Commtitee (Sci-App) aims to fulfil a major role in the creative and intellectual lffe of bpf by ensuring access for members to a rich programme of events relevant to the theory and practi￿ of psychoanalysis and psychoanalytic psychotherapyi and to their application in the wider sphere of human artivity, from art and literdture, to politics and wodd affairs. The Sci-App Committee endeavours to recruit representstive5 from each of the A550ciations as well as from other interest groups (eg research, regional members) and key Consti￿encieS across the organisation such as the BJP and, ideallyi a current member of the Board. In additlon to events commissioned by Sci-App itself, the Committee welcomes prowsals from individual members or groups and is available to support and advise on the progression, scheduling and promotion of such initiatives. The Committee endeavours to keep an overview of all planned and forthcoming events across the organisation and to be mindfvl of potential date dashes or ovedoading of the calendar. Achieving these goals on beha￿ of the organisation necesytates d05e liaison with event organisers, and with bpfstaff in the areas of marketing, tr and finance, encouraging the use of a standard Ev￿t &JlNnission Fom developed specifically for this purpose. During the 2020121 academic year, Sci-App commissioned nine events ￿tWeen September and July. At least six of these were open to the wider public. Most were half day events which took place on Saturday momings. The exception was the Annual Conference on "The Violent Human" which took place over Thursday evening and all day Friday and Saturday. Ail of these events were necessarily held on the bpfonline platform and all attracted healthy aUdien￿S. several events direcdy addressed highly topical issues at the forefront of the public mind and with speafic challenges for our profession as psychotherapists: Angela Fosterfs paper and discussion 7The Vulnerability of and ￿Sk5 to Workers in the Mental Health SeThices dunng Covid 19 lcrkdown A Thinking On Decolonising Psychotherapy a parkncipatory discussion confronting the lack of ethnic dIVe￿ity within our own profession 17 BRrrIsH PSYCHOTHERAPY FOUNDATION TRusfEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Helen Morgan's intensely thought-provoking Annual bpf Lecture "We All Fall Down.. ? What mle forpsychoanalysis in the search for healing? The WiolentHuman Conference, where Ra￿, Gangs and Youth Wiolence and The Psychology of Ectride were just two of the items that touched a very current raw nerve in our Psychoanalyttc examination of the human p￿dIleCtIon for violen￿. Other events focused on specific asperts of clinical theory or practice and on training and research: An Audien￿ with Authors ¢)n Celia Harding's b(K)k 'Dissechng the Superego.. Moralities under the Psychoanalytsc Microscope- Penny Pickles, presentation, Endings Unexpetted and Hanned.. cliff edge or soft landing. Jean Knox's presentationldiscussion, 7he Psychoan34￿C Inststute as a Psychic Retreat.. Why we need to indude Evidence in our ainical Trainings Two mernorable presentations, LM)th of them firnily rooted in psychoanalytic thinking, fulfilled our brief as 'Applied' events: Psychoanafytic Reflethons on Dantes Divine Comedy, on the Seventh Centenary of his Death, with presentations by psychoanalysts 13ovanna di Ceglie and David Black An Audience with Authors: Robert Snell in conversation with Fknchard Morgan-jones on Roberfs bcK)k fezanne and the post-Bionian field.. an exploration and a medit3tson"(Routledge 2021) The Annual Conference "The Wiolent Human-took place in March as an online event, having been postponed from September 2020 when it had been scheduled to take place at the Royal College of Nursing. Nine excellent online presentatiors and discussions over the two and a half days was a challenge of stsmina for the audience but the conference as a whole was enthusiastically applauded. The open*nded morning discussions, called 'Afterthoughts" and the interpolation of pre-￿corded readings, music and mini- dramatisations leavened the tough demands at the screen and made for a different and more immersive experience and provided a connecbng thread for the conference themes. The execution of suth a technically complicated Conference relied on exemplary teamwork from members of the Sci-App Committee and members of the bpfstaff team. The Covid pandemic has altered the landscape for bpfevents, propelling LS into relian￿ on digital platfomis, but also openirvJ up access to events for bpf memLErs who live far from London. The last event of the year - the Audience with Authors on Cezanne and the post- Bionian field- attracted colleagues from the USA, Greece and Italy. 18 BRtrisH PSYCHOTHERAPY FOUNDATION TRusfEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 By no means all events put on by bpf have involved the Sci-App Committee, Individual initiatives are a welcome indication of the creativity Wlthin the organisation. Mention must also be made of the bpfwessex Public Programme - a legacy of the BAP'S Wessex Training programme. Tris is the ￿lY formal bpf programme held OLtside of London. progrèmme has run a number of successful events. Looking fomard, It is a pleasure to welcome Poul Rohleder as the new Chair of the ScT-App Committee, his nominabon having received unanimous supkx)rt from the current committee members. The organisation's sin￿re thanks go to rim Fox, the outgoing Chair, for all hi5 tremendous work in leading the Committee. Two members of the Cornmittee, Ann Scott and Judith Trowell, have lately reti￿d from the Committee, having made an excellent contribution to its work over the past thr￿ years, and the Committee is very pleased to welcome ￿0 new members in their place, Jackie Charbit-middleton and Joao Betis. Publications- British Journal of Psydwtherapy The 8ntish Joumal of Psychotherapy (BJP) has continued tt) develop in the last year. Submissions in 2020 and 2021 have held steady, despite the pandemic. Like other journals in the field, the BJP continues to receive submissions on Covid-19, by Ixith UK and international authors. Intemational submissions continue to be well represented as a whole. The journal continues as a member of the bpfs kientific and Applied Activities Committee, now chaired by Poul Rohleder (who is also Reviews Editor of the The journal's bpf representative, Toby Dantzic, ￿presents the journal on the Committee. We are continuing the close link between the journal and bpf Marketing and the Library, which ensures that RJParticles are regulady highlighted in bpfcommunications to the mernbership. Editorially, the journal can ￿COrd significant achievements in 2020121. As mentioned in last yearfs Annual Report, we were proud to publish tmo fast-tracked papers on the Covid crisis by international colleagues an interview Gillian Isaacs Russell on remote wortingi and a "Letter from Northem Itsly" by Federica Facchin - in the August 2020 edition. The two pieces were among the most downloaded ￿particleS in 2020. We are delighted that I¥dac5 Russell and Facchin are offering their fijrtherthoughts a year later, in the August 2021 edition. Once again we are grdteful to Wiley for making these papefs free to ac￿5, Ear￿ this year we anr￿unCed a new prize in honour of Estela Welldon, co-sponsored with the International Association for Forensic Wthotherapy. The prize complements the journal's established Rozsika Parker Prize's focus on creativity by taking as its focus work on the shadow or'dark, side of humanity, in keeping with the forensic context of Estela's work. The first cohort of papers is currently with the judges. The joumal was also proud to publish an important contribution by Estela Welldon in February 2021.. "The science of living and the artof dying" accompanied by a commentary by her son, the photojrapher Dan Welldon. 19 BRITISH PSYCHOTHERAPY FOUNDATION TRUSTEES, REPORT AND FINAMCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 The journal aims to publish in a consistently searthing spirit across the analytic field. At the time of writing, for example, articles on trdnsgender idenbty, children of psychotic mothers, and the psychoanalytic conceptualization of disability are in press; as are Helen Morgan's bpfAnnual Lecture (December 2020) on'whiteness", with Andrew C￿per'S Response. We are also stafang to publish translations of article5 that had previously appeared in peer- reviewed jouma15 elsewhere: the first were published originally in French and Hebrew. The Editorial Board is cor60lidating, after the changes in membership recorded in last yearfs Annual Report. A recent development is the welcome appointment of Mary Pat Campbell, vi￿{haIr of the bpf Board, in a liaison role betNeen the bpf Board and the RJP. On again it is a pleasure to acknowledge the essential contribution of the bpfmembers on the P Board - Poul Rohleder (PPA), who has been Reviews Editor for five years now. and Toby Dantric (PPA), who is consolidating his role in developing the ￿PS social media presence and liaising wFth bpfand Wiley Marketing. Clinical SeNi The department continued to provide an "enquiry and referral" seNice for members of the public and the opportunity of a discounted, low-fee consultation with a psychotherapist. We have maintsined and adapted the service in very difficult arcumstances, offering both assessment consultstions and ongoing therapy via an online medium. Dumng 2020121 688 enqUIri￿]con￿cts were re￿ived, 225 questionnaires sent, and 98 assessments consultations attended. In totsl, 70 referTals were made to qualified members and trainees. The department held monthly Train￿ Refe￿al meeting5 to track all potential trainee vacancies and applications from patients to the seNce. This 15 a cruoal part of the clinical training of bpfstrainees. Other acknvity included: Organised and Provid￿ bi-annual meetings with A5sessor5; Organised Termly ￿Upport is Key" meetings for bpf therapists volunteering their time to this project. Regular reports conceming the servi￿ were prepared and written by the Clinical seN]￿s Coordinator; A￿essment Sknlls training was planned but had to be cancelled due to lockdown restrictions. Liaised with psychiatriclchild and adolescent seNices/forensic psychotherapy and drug services as well as other psychotherapy organisations; Expandedlupdated information on the bpf website about the seNice regularlyi particularly to promote the Low Fee Scheme; Maintained regular communication with members via bpfs monthly newsletter. BR￿IsH PSYCHOTHERAPY FOUNDATION TRUSTEES, REPORT AND FINANCIAL StATEMENTS FOR ThE YEAR ENDED 31 MARCH 2021 From mid-march 2020, when the first Covid-19 lockdown was introduced, the department saw a significant fall in the volume of enquiries and many members were unsure or hesitant about switching to virtual therapy sessions. The fall in activity levels continued over the Spring of 2020 but activity gradually started to rise from Summer 2020. From April 2020, in response to the pandemic, the deparknent devised and led the planning and launch of bpfs '5upport is Kef initialive. This is a service offered by bpf members who donate up to six free sessions to "key workers" from across the NHS, Social SeNices, Police, Fire and Care SeNices who have been affected by Covid-19. Following the scheme's launch, 60 bpfmembers contacted the depatbment to volunteer their time. The project has been advertised widely with professional bodies, eg the Royal College of Nursing and the General Medical Council. Key workers have made contart from across the country, After receiving th￿r free sessions, some patients deade to continue their therapy, either by contacting Clinical Services for a refe￿al or arranging to continue ongoing work with the therapist allocated to them by the department. We have received excellent feedback and the bpfwill look to continue offenng this valuable service for the foreseeable future. othev artivities Throughout the year, the Members, Forum continued to meet, doing so online, to discuss issues of common interest to bpfmembers. The Senior Membership Task Group, convened by Joanne Lee, also met to develop an additional route to Senior MeM1￿rShip at bpf, one which enable members who worked mainly at lesser frequenaes, induding IPCAPA members and others in the NHS and Third Sector, to progress to Senior Membership. Dawd Vincent, the current Chair of the board, convened a new bpf Ethics Committee, and work on this will continue in 2021122. Ruth Calland and Eleanor Mongeyi on behalf of the board, convened a series of forB, to discuss diversity and inclusion at bpf, this will be taken forward in 2021122. In April 2021 the organisation upgraded its ￿ systems, moving to a new Cloud-based 501ution, as well as upgrading its hardware and connectivity. The upgrade has resulted in improved speed, data security and reliability of system access for stsff and has future- proofed the organisation's IT. Future plans The board continued to be mindful of the ongoing need to reduce the organisation's financial deficit. An annual income of £1,241,890 compared with expenditure of £1,116,773, resulted in an operational surplus of £125,117. This, combined with an exceptionally strong perfomance of the charity's investment portfolio - which saw a net gain of over £195,000 for the year- resulted in the organisation's overall financial position increasing by £320,841 compared with the previous year. 21 BRITISH PSYCHOTHERAPY FOUNDATION TRUSTEES, REPORT AND FINANCIAL STATEMEFITS FOR THE YEAR ENDED 31 MARCH 2021 For the fvture, the board wshes to focus its efft)rts on growing the organisation and increasing its income, and intends to appoint a newly created post of Training & Membership Director to a55iSt with this task during 2021122. Work will be undertaken to develop a broader, more integrated, and more flexible "core" educationltraining "pathway" from introductory up to advanced clinical level - particulady offering more at intermediate level and offering a greater choice of different levels of qualificab'on. Work will also be done to improve the accessibility of programmes via more online and shorter formats and operating more in partnership with other institutions. Work will also be undertaken to improve the appeal of bpf membership and what it offers to membe[5, including a clearer, progressive structure of membership categories, development of a community of those with a general interest in psychotherapy, and boosting the professional ethics/standardsladvice support available to members. Risk Assessment The trustees regularly identify and consider the major rtsks to which the charity is exposed and estsblish systems to mitigate yjch risks. Financial systems are closely monitored through budgets arld internal controls, and regularly viewed to prevent excessive expenditure and to guard against fraud. The trustees continue to put in place effective strategies to ensure that bpfactsvities remain 5UStainable in the long term and that they develop along wtth to meetthe needs of potential trainees and patients. Finanaal review Total income amounted to £1,193,017 during the year (2019120: £1,018,7H) and total expenditure was £1,116,773 (2019120: £1,070,617). Gains on investments were £244,597 (2019120: loss of £13,245) resulting in net inc(Mne of £320,841 (2019120: net expenditure £65,118). Net restricted income of £57,550 (2019120- £31,120) included a grant from Health Education England of £64,000 and a £20,000 legacy donation to be spent from 2021122. Income from operations was £1,047,487 (2019120- £939,806), an increase due to higher trainee numbers than in previous years. Ex￿ndItUre increased slightly to £1,062,023 (2019120: £1,028,857) resulting in a net operatiorkil loss of £14,536 (2019120: net operational loss £89,051)- Investment income increased significantly to E31,890 (2019120: £5,911) and unrestricted net income was £18,694 (2019120: net eX￿ndItUre £91,581). Total reserves stood at £4,131,571 on 31 March 2021, of which £277,796 is held as restricted funds (2019120.. £220,146) and £1,806,667 as designated (2019120: BRrrisH PSYCHOTHERAPY FOUNDATION TRusfEES' REPORT AND FIIIANCIAL sfATEMErirs FOR ThE YEAR ENDED 31 MARCH 2021 £1,833,330). Designated funds consist of a legal fund of £20,OtKJ and a property fund of £1,786,667 which is equal to the book value of the fr￿hold propety after depreciation. Unrestricted funds amounted to £2,047,108 at 31 March 2021 (2019120: £1,757,254). Investment policy and returns Under the mernorandum and artide5 of association, the charity has the tx)wer to invest its funds at the discretion of the directors. The trLtstees considered the retum on investments to be in keeping with present market condittons. The trust￿5 have exerased care and skill when making investrnent decisions and to the best of thar abilities selected investments that were right for the charity taknng account of: how suitable any investment is for the charity the need to diversify investments The tnjstees have addressed the ethical aspects of the charitys investments to ensure they are not in conflict wth the aims of the charity. The trustees monitor and review the perf0mlan￿ of the extemal investment manager. ReseNes The board has remewed the major risks that the charity faces, as a result the bpf is now committed to maintaining free reserves equal to 3-6 months OFerating costs, approximately £372,000 to £558,OlJ] and to retaining an additional sum of £20,000 as a legal fee reserve to ensure adequate cover for any p0S￿ble future legal costs. Key finanaal control systems are reviewed annually. At 31 March 2021 fr￿ reserves were above taryet. A number of adult psychotherapy training5 from the 3 merged organisation5 remain active. The board is committed to ensuring that these trainings continue until the trainees concemed have qualified which will entsil using a level of its reseNes. Trustees, responsibilities in relation to the financial statsments The Tnjstees (who are also directors of the charity for the purposes of company law) are responsible for preparing the Trustees. Report and finanaal statements in accordance with applicable law and United Kingdom Accounting Standarts (United Kingdom Generally Accepted AccountirMJ Practice). Company law requires the Trustees to prepare finanaal statements for each financial year which give a true and fair view of the income and expenditure of the charitable company and its stste of affairs at the end of that period. In preparing those statements the Trustees are required to: select suitsble accounlj'ng policies and then apply them consistently; BRrrisH PSYQIOTHERAPY FOUNDATION TRiISTEES' REPORT AND FINANCIAL STATEMEi¥fs FOR THE YEAR ENDED 31 MARCH 2021 obseNe the methods and principles in Accounting and Reporting by Charities: Statement of Recommended Prdciice ap￿ICable to charities preparing their financial statements in accordan￿ with the Financial Rep)rting Stsndard applicable in the UK and Republic of Ireland (FRS 102); make judgements and esttmates that are reasonable and prudent; state whether applicable United knngdom Accounting Stsndards have been followed, subjett to any material departures disdosed and explained in the financial ststements; and prepare the financial statements on the going concem bags unless it is inappropriate to presLtme that the charitable company will continue in operation. The Trustees a￿ resFKJnsible for keeping proper accounting records which disclose with rea%)nable accuracy at any time the financial wgtion of the charitsble cornpany and enable them to ensure that the financial statements comply wtth the Companies Att 2006. They are also respKmsible for safyuarding the a55ets of the charitsble company and hence for ta￿ng ￿asOnable steps for the prevention and detectIC￿ of fraud and other irregularities. In accordance with company law as the companvs dlrect(Ys, we ￿rtify that: so far as we are aware, the￿ is no relevant audit infornation of which the charitable company's auditor is unaware; and as directors of the charitable company we have tsken all the steps that we ought to have tsken, in order to make ourselves awa￿ of any relevant audit infomiatlon and to establish that the charitsble companvs auditor is aware of that Infomation. This report was approved by the Wboard of dlrectors on 21 September 2021 and signed on its behalf. David vir￿nt Director 24 BRrfisH PSYCHOTHERAPY FOUNDATION TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BRITISH PSYCHOTHERAPY FOUNDATION Opinion We have audited the financial ststements of The Brits'sh Psychotherapy Foundation (the 'charitable company? for the year ended 31 March 2021 which comprise the Statement of nancial Activities, the Balance Sheet, ststement of Cash Aows and note5 to the financial ststements, 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 Finanoal Repo￿n9 Standard applicable in the UKand Republic oflreland(United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the stste of the charitable company's affairs as at 31 March 2021 and of its income and expenditure for the year then ended; have been property prepared in accordan￿ with United Kingdom Generally Accepted Accounting Prartice; and have been prepared in accordan￿ with the requirements of the Companies Act 2006. Basis of opinion We conducted our audit in accordance with Intemational Stsndards 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 settion of our report. We are independent of the charitable company in accordan￿ with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Stsndard, and we have fvlfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit ewdence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to golng con￿rn In auditing the financial statements, we have concluded that the trustees, use of the going concem basis of accounting in the preparation of the finanaal ststements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions tha¢ individually or collectively, rnay cast significant doubt on the charitsble compan￿5 ability to continue as a going concem for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the re5PK)nsibilities of the twstees with respect to going concem are described in the relevant sections of this rew BRITISH PSYCHOTHERAPY FOUIIDATXOM TRu￿EE¥ REPORT AND FINANCtAL ￿ATEmEl1Ts FOR THE YEAR ENDED 31 MARCH 2021 Other inforniation The other infomation comprises the infom)ation induded in the annual repx)rt, other than the financial statements and our audito￿ report thereon. The trustees are responsible for the other infomiation. Our opinion on the financial statements does not cover the other information and we do not express any form of assuran￿ 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 obtsined in the audit or otheNise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to deterrnine whether there is a material misstatement in the financial statements themselves. If, based on the work we have wrformed, we conclude that there is a material misstatement of this other information, we are required to report that fatt. We have nothing to ￿port in this regard. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or othewse appears to be materially misststed. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there s a material misstatement in the financial statements themselves. If, based on the work we have perforrned, 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 ￿r opinion, based on the work urKlertaken in the course of the audit: the information given in the trustee5' report, whith includes the dirertors, report prepared for the PUr[￿seS of company law, for the finanaal year for which the financial statements are prepared is consistent with the finanaal statements. and the directorg report included within the trustees, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exoption In the light of the knowledge and understanding of the tharitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors, report induded within the trustees. report. BRITISH PSYCHOTHERAPY FOUNDATION TRUSTEES. REPORT AND FINANCIAL sfATEMEl￿s FOR THE YEAR ENDED 31 MARCH 2021 We have nothin9 to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or ￿turnS adequate for our audit have not been re￿Ved from branthes not visited by us; or the financial statements are not in agreement wth the accounting records and retums; or certain disclosures of trustees, remunerabon specified by law are not made. or we have not received all the infomiation and explanations we require for our audit. or the trustees were not entided to prepare the finanrial ststements in accordan￿ with the small companies regime and take advantage of the small cornpanies, exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors. Responsibilities of Trustees As explained more fully in the Trust￿, Res￿)nSIbIlItieS Statement, the Trustees (who are also the directors of the charitsble company for the purw5es of company law) are responsible for the preparation of the financial ststements 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 finanaal ststements that are free from material misstatement, whether due to fraud or error. In preparing the financial ststements, the tNstees are responsible for aSse￿Ing the charitable companys ability to continue as a going COn￿rn, disclosing, as applicable, matters related to going concem 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 altemative but to do so. Auditor's responsibllities for the audit of the financial statements Our objectives are to obtain reasonable assuran￿ about whether the financial statements as a whole are free from material misstatemenL whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assuran￿ is a high level of a55urance, 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 experted to Influen￿ the economic decisions of users taken on the basis of these financial statements. Irregularities, induding fraud, are instances of non-complian￿ with laws and regulations. We design procedures in line with our responsibilities, oudined above, to detett material misstaternents in respect of irregularities, induding fraud. The extent to which our procedures are capable of detecting irregularities, induding fraud is deLiiled below: 27 BRfnsH PSYCHOTHERAPY FOUNDATIOM TRUSTEES. REPORT AND FINANaAL ￿ATE￿E11Ts FOR ThE YEAR ENDED 31 MARCH 2021 The Charitable Company is ￿qUired to comply with t)oth company law and charity law and, based on our knowledge of Fts activities, we identified that the legal requirement to accurately account for re5tncted funds was of key significance. We gained an understanding of how the charitable company complied with its legal and regulatory framework, induding the requirement to property account for restricted fijnds, through discussions with management and a review of the documented policies, pr￿￿dureS and controls. The audit team, which is experienced in the audit of charities, considered the charitable company's susceptibility to material misstatement and how fraud may occur, Our considerations included the risk of management override. Our approach was to check that all restricted Ir￿Qme was properly identified and separately accounted for and to ensure that only valid and appropriate expenditure was charged to restricted fvnds. This included reviewing journal adJ"u5tments and unusual transactions. A further description of our responsibilibes for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.o auditorsr onsibilities This description foms part of our auditorfs report. Use of our report This report is made solely to the d)aritsble company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Att 2(K16. Our audit work has been undertaken, 50 that we might state to the charitsble compan￿$ members those matters we are required to state to them in an auditorfs 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 companws members as a body, for our audit work, for this report or for the opinions we have fomied. 27110121 Simon Goodridge Senior Statutory Auditor for and on behalf of Knox Cropper LLP Statutory Auditor 65 Leadenhall Street London EC3A 2AD BRtrisH ISYCHOTHERAPY FOUNDATION TRusfEES' REPORT AND FINANCTAL sfATEMErirs FOR THE YEAR ENDED 31 MARCH 2021 Note Unrestricted Designated Restrirted Total 2020 Total 2020 Income and Endowments.. Donations and Legacies InveslJnent Income 1,340 31,890 112,300 113,640 31,890 73,027 5,911 Charitable Activities Merllbership Training F￿5 MSC Course & Pre-trainirTrg Fee5 Short Courses Events PubliCat￿n Income Room Hire and Lettings clin￿ Access and Serv￿e5 Other Total Income 220.8fA) 525,6( 223,873 23,133 17,258 21,638 220,860 525,608 223,873 23,133 17,258 21,638 230,706 471,009 166,812 9,443 26,777 16,469 2,588 11,539 13,3 13,390 1080 717 1 193 017 1018 744 Expenditure: Charitable Activities Membership Education Training Courses MSC Course & Pre-training S￿rt Courses Events Publications Clinical Access & SeNices Total Expenditure 122.432 122,432 234,554 674,357 155,012 8,441 4,127 43,843 54,750 729,107 196,012 8,441 4,127 43,843 548,255 191,228 20,628 15,468 11,912 1062 023 1 116 773 1070 617 Net IncomelExpenditure before gain$l(losses) Net Gainsl (Losses) on Investments Net Incomel(Expenditure) 18,694 57,550 76,244 (51,873) 263 291 320 841 Transfers between Funds Net Movement in Funds loo 57,650 289,854 (26,6631 320,841 (65,118) Total Funds Brought Forward Total Funds Carrie41 Forward 1757 254 2 047 108 1833.330 1806 667 220.146 277 796 3 810 730 4 131571 3 875,848 3 810 730 Ail incoming resour￿, and resour￿ extEnded derive from conb"nuing activities. The Notes on ￿7ge$ 32-39 fomi part of these financial siatements. TRIISTEEg REPORT AND FI1￿￿￿ ￿ATEMENTs FOR THE YEAR ENDED 31 MARCII 2021 2021 2020 Intangible Assets Tangible Fixed Assets Investments 2,500 1,8(Ki,454 5,000 1,834,352 1353 970 3,193,322 io 3,938,522 Oebtors Qsh At Bank In Ha￿1 li 334,522 191,365 712 746 904,111 576,191 CREDrn)RS: Amounts falllrYJ due within or* year 12 NEf CURREKf ASSErs 193,049 617,408 TOTAL NEf ASSETS 4 131571 3 BIO 730 Restricted Designat Unrestricted 277,796 1,806,667 2,047,108 220,146 1,833,330 1,757,2 TOTAL FUNDS 4 131571 3 810 730 These financial statements were ap[W￿l by the Bckird ￿ Trust￿$ 21° September 2021 and We￿ Sign￿ on Its behalf by: David ￿l￿ent Di￿r Mary Pat Rejistered Company No.: 08238969 Register& Charity No,: 1150806 The Notes on pajes 32-39 forni part of these finaThial strte￿￿nts BRtrIsH PSYCHOTHERAPY FOUNDATION TRUSTEES. REPORT AND FINANaAL sfATEMEIITS FOR THE YEAR ENDED 31 MARCH 2021 ATEM ND Note 2021 2020 CASH FLOWS FROM OPERATING AcfIviTIES: Net cash provided by (used in) operating artivities 17 116 295 CASH FLOWS FROM INVEStING ACtIVITIES . Investment additions Investment disposals Purchase of property, plant and equipment Net cash provided by (used in) investing activities (809,368) 223,494 587 372 347 Change in cash and cash equivalents in the reporting ￿riod Cash and cash equivalents at the kEgInnI￿ of the reportir¥J perKJd (471,077) 712 746 (39,847) 752 593 CASH AND CASH EQUJVALErirs AT THE END OF THE REPORTING PERIOD 241669 712 746 31 BRITISH PSYCHOTHERAPY FOUNDATXON TRUSTEES. REPORT AND FINANaAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 E FINAN IAL Accounting Policies 1.1 Basis of preparation of Accounts The financial statements are prepared utmler tts historinl cost convention wth the eXCept￿n of investments which are included at market val￿. The finanaal stste¥nents have b￿n prepared in accordance with the Statement of Rec0mn￿n¢￿d Prattl￿ appI￿able to charities preparing thelr accounts in accordance with FRS 102, the Financial Rep)rting StarKlard applicable in the UK and Republic of Ireland (Charities SORP (FRS 102 second editi)n - effertive l January 2019)), applicable UK accounting stsndards arml the cC￿pan￿5 Act 2006. 1.2 Going concern The trustee5 have assessed whether use of the going ￿n￿rn assumption ts appropriate in preparing these financial statements. The trustees have made this assesynent in reS￿rt to a period of one year from the date of approval of these financial statements. The trustees of the charity have (Dncluded that there are no material uncertainbes related to events or conditions that may cast significant doubt on the ability of the charty to continue as a going concern. The tru5tee5 are of the opinK)n that the charity will have sufvent ￿oUrceS to meet its liabilities as they fall due. 1.3 Incornlng resources Voluntary Income and donations are included in incoming resources when they are retrivable, except when the donors specify that they must te used in future accx)unting per￿)d5 or if donors conditions have rnt been fulfilled, then income is defe￿ed. Investment Kicome is ￿COgnised on a receivable ba￿5. 1.4 Resources expended Resources expended are reccgnisaj when a liability is ir￿rred, indusive of any VAT wh￿h cannc be recovered. EX[￿ditUre which is dir￿tlY attrilxjtable to S￿1￿C activities has been ir￿lUded in these categories. Where cost5 a￿ attributable to more than one activty, they have b&n apP)rtiC￿ed acr05S the cost categorie5 on a ikH515 consistent with the use of these resoiJrce5. 1.5 Pension Costs The company contributes to a stakeholder tmsion sthane. These costs are aLrounted for by Chargi￿ the praniums ￿91d In the peri￿￿ during which the cfflipany I￿nefIts from the employees, servi￿. 1.6 Intangible Fixed Assets Intangible fixed assets are publi(ab-on rights for the Biiti5h Journal of Psychotherapy. These intangible assets wll ￿ amortised over their estimated economic life of 4 year5 on a straight line bas15. 1.7 Tangible Fixed Assets Individual fixed assets costing nw)re than £ILK) are capttalised at cost. Depre¢￿tIon is provided on all iangible fixed assets at rates (akulated to write off the carrying value over their expec￿1 useful ￿r￿liC lrfe as follows: Frethdd bl￿1¢4"n9$ 2% stravjht ba9S Fumiiure & ￿t￿ng5 21P/o yrnght line ba95 33% knght line basis 15% rethKTrJ baL4[￿ basi5 33% 5tragM kn basi5 Equipn*nt Ubrary, trmks, Database tr BRITISH PSYCHOTHERAPY FOUNDATION TRiISTEES REPORT AND FINANCIAL StATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 TIN ED Accounting Poliaes (continued) 1.8 Investments Investments including funds under management are slated at market fdlue at the balan￿ sheet date. These investments are reodity convertible to cash. The Statement of Finan(ial Activities includes the net gains and losses arisiTrJ on revaluations. 1.9 Stock stock is valued at the lower of cost or net reallsable valLk. GRANTS AND DONATIONS 2021 2020 Grants Donations Members and Other Donations 92,000 21,640 71,510 H7 INVEsfMENT INCOME Bank Interest DivKlends 365 4,234 TRAINING FEES IPCAPA Trainiryj PPA Training BJA4 Training Application for Training Theraixsts 433,385 76,772 14.551 381,167 73,938 15,334 570 471009 CHARITABLE ACTIvrtlES .2021.--___ Ditrt Staffcr*sts Support Total -201fk-_--. Dltett gaifcasts ￿PP￿t M￿ba¥¥p EduEaty Traln 57,gM 15.014 49.514 122.¥J2 54,041 180,513 234,554 7.061 IYJ,484 261562 729.107 271.273 14929) 127,693 548,256 pre- irnlnings sthrt Cgu 741 ji.yji 75￿ 196.012 1(*.9n 29.5X) .725 191,228 J.337 8.4ql 3.515 s211 11,902 20,628 211429 1208 242 ainkal Actess & SeNI PUb￿[al￿n5 43.843 43,843 48.511 48,571 811 1070 617 Stsff costs are split ￿tr1een direct and suptxrt costs which are then allocated to charitsble attNitie5. 33 BRITISH PSYCHOTHERAPY FOU14DATION TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 SUPPORT cosrs Trainl Membershjp Cou To 2020 Cour59S E¥ents 2021 stsff other Staff Premises 30,652 2,034 8,046 6,561 221 162,549 10,787 42,664 46,977 3,117 12,330 10,054 1,178 242,184 16,071 63,566 51,834 189,242 Ll,669 88,132 56,211 55 217 177 3(Y3 252 85 Governan 262 562 391195 Prior year Total 2020 Staff (Xher Staff Premises Offf￿e Governan 89.711 5,532 41,7K) 26,647 63.461 3,913 29,554 18,850 27,197 1,677 12,666 8,079 5,914 365 2,755 1,757 2,959 182 1.377 878 555 189.242 11,669 88,132 56.211 127 693 STAFF cosrs AND KEY MANAGEMEiif PERSONNEL No ￿muneratIon was paid to directors during the year. Expenses reimbJrsed to them in the year in their capacity a5 directo￿ arrK)unted to £Nil (2020.. £481). A number of Directors receNed fees in respett of professional Servi￿$ rendered as psychotherapists duriro the year aM(￿nting to £KXX (2020: E825). The staff costs of remaining stsff were- 2021 2020 Wages and Salaries s￿la1 Security Costs Pernsion Costs 457,966 29,027 395,068 29,501 497 455 433 452 Full Time Staff Equlva￿nt During the year, the key management personnel re[K)rt￿ last year resigned from bpf and were successfully recruited in year. Overall, headcount remianed the but FfE redU￿d from 2 to 1.212020: iwol. Totsl r8nuneration of key management personnel during the year amounted to £132,962 (202Q: £129, 172). Stsff receNing remuneration greater than £60,LKI) in the year were as foll(MlS: 2021 No& 2020 No Between £60,000 and £70,000 Between £70,(K)O arKI £80,0 BRfnsH PSYCH07HERAPY FOUNDATION TRUSTEES. REPORT AND FIMAMaAL ￿ATEMENTs FOR THE YEAR ENDED 31 MARCH 2021 MEN INTANGIBLE ASSET Publication R￿hts . British Joumal of Psycholherdpy 2021 2020 Cost at l* April Accumulated amortization Brought forward as at 1st April Charge for the year Carried forward as at 31st Mard) Net Book Value At 315t March TANGIBLE FIXED ASSETS orrice EqU1pn￿nt Furniture & Fittings Library Books & Film Equipment Free1￿Id Property Total 2021 Total 2020 At 1st April Additions At 315t March 2,000,(KNJ 120,740 54,531 2,175,271 2,172,924 2 176 769 2 175 271 Accumulated Depreciation At I￿ April Charge for the rRri(MJ At 315t March 186,667 110,07D 44,182 340,919 299,257 213 333 116 974 376 315 .Net Book ValiRs At 31$1 Marith 2021 l K)0 454 1834 352 At 3151 March 2020 1813 333 1834 352 1873 667 BRrtlSH PSYCHOTHERAPY FOUNDATION TRusfEES' REPORT AND FINANCIAL sfATEMEKfs FOR THE YEAR ENDED 31 MARCH 2021 10. INVE￿MENTs 2021 2020 Quoted Investments Balan￿ 8rought F￿ard Ndditior Disposals Unrealised Gainl{Loss} Market Value at 3LSt Marth 2021 1,353,970 809,368 (223,494) 195 724 2 135 568 1,367,215 1353 970 Held al Year End: Sarasin Alpha CIF C4F Bala￿ed Growth FurKI COIF Charity Investsnent FurK1- knumulatK)n Shares Tri(Kios Bank 1,541,694 63,559 529,034 1,081,159 48,036 223,494 2 135 568 1353 970 Unrealised Gain/{Loss) Realised Gain Investment Gainsl(L055es) 195,724 (13,245) 11. DEBTORS 2021 2020 TrBinee Loans other debtors Payn￿nts in advance 5,510 196,771 13 241 6,219 83,505 101641 191365 12. CREDITORS Amounts Falling Due Within (kne Year Trade Qeditors Deferred Income Deposits Accruals PAYE and Staff Related Jungian Archive5 179,192 168,487 470 23,160 11,193 640 383 142 142,159 86,550 5,697 42,485 9,173 640 286 703 BRMSH PSYCHOTHERAPY FOUNDATION TRusfEES' REPORT AND FINAMaAL sfATEMEIITS FOR THE YEAR EMDED 31 MARCH 2021 13. FUNDS Balance Incoming BIF Resources Expend- iture Investment TransfeTS Gainsl Balance CIF Restricted Fund$ Trainee Loan Fund (hikj Training P￿rniSeS Fund Trainee Bursary Fund Trawee Bursary Fund 2018 Trdinee Bursary Fund 2019 hn Kelnar Fund Lionel Monteith Lectu￿ Fund Lincdn Legacy Eileen Curb"z Gyll Moore Fund Teresa Hirsch Fund Roiska Parker Fund 24,370 83,642 37,099 12.063 6,710 20,(KK) 24,370 141,442 37,099 12,063 6,710 20,000 112,(XKJ 154,2(K)) 5,268 25,616 1,850 314 3,214 5,268 25,616 1,7(H) 314 3,214 (150) £220 146 ICA) L)esignated Funds Property Fund Legal Fees FurKI 1.813,330 (26,6631 1,786,667 833 330 1806 667 Unrestiicted Funds General ReseNes 10&) 717 1080 717 244 597 2 047 L08 2 047 108 1757 254 l (b2 023 Totsl ReseNes 3 810 730 1193 017 l L1677 4 131 571 Prior year 01104119 31103120 Restricted Funds Trdinee Loan Fund Child Training Premises FUTh Trainee Bursary FurKI Trainee Bursary FurKJ 2018 Trainee BLJrsary FuThl 2019 John Kelnar Fund Lionel Montath Lecture Fund ncdn Legaoy Eileen Curtiz Gyll Moore Fund Teresa Hirsch Fund Roatha Parker Fund 24,370 53,582 37,099 12,063 24,370 83,642 37,099 12,063 6,710 20,000 70,460 (40,4￿) 1,070 20,000 100 (Icoi 5,268 25,616 150 314 3,214 5,268 25,616 1,850 314 3,214 1.050 (350) I,o(xy 91 910 167 016 220 146 Designated Funds Pioperty FUNJ Legal Fees Fund 1,839,997 (26,6671 1,813,330 1859 997 1833 330 Unrestricted Funds GerEral Reserv 1,848,835 3 875 848 945,8kn4 (1.028,857) 113,245) 107061 4,657 1,757,254 3 810 730 Totsl Reserves 1018 744 37 BRMSH PSYCHOTHERAPY FOUNDATION TRusfEES' REPORT AND FIPIANCtAL ￿ATEME11T5 FOR THE YEAR ENDED 31 14ARCH 2021 14. ANALYSIS OF NET ASSEfs BEfwEEN FUNDS Current Total Restritted Funds Designated Funds Unrestricted F￿ndS 150,Lll) 127,796 20,LYJO 277,796 1,806,667 2 047 108 1.786,667 4 131571 Prior year Current Total Restrirt￿ FutKis Designated Funds Unre5trictal Fun(ts 22D,146 20,LKYJ 377 262 220,146 1.833,330 1 757 254 1,813,330 1353 970 1839 352 1353 970 3 810 730 15. MEMBERS LIABILTrY The company is limited by guarantee and has no share capitsl. The Ik?bilty of each member in the event of wndir¥J up is £5. 16. TAXATION The company is a registered charity and no pn)vision is c(M)stdered n￿Sary for taxation. 17. NOTES TO THE CASH FLOW STATEMEp¥r 2021 2020 Reconciliation of net movement in funds to net cash flow frnm operating activities Net movement in funds for the reporting period (as per the statement of finanaal artivities) Adjustments for: Unrealised (Gain)lLo￿ on Investmet Deprecyation charges Amcrtisation charges (Increa*)/decrea5e in debtors Increase/(d￿aSel in creditors Net cash provided by (used in) operatlng 0ctl¥llles 320,841 (65,118) 1195,724) 35,396 13,245 41,662 2,500 {14,735) 1143,157) 116 295 Analysi5 of cash and oqulvalents Cash at bank Totsl ¢•sh and cash equivalent 712 746 712 746 BR[￿S￿ PSYCHOTHERAPY FOUNDATION TRusfEEg REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 R THEY 21 18. COMPARATIVES FOR THE sfATEMENT OF FINANCIAL ACTIVITIES Note Unrestricted Designated Restricted Total 2020 Income and Endowments: Donations and Legacie5 InvestnEnt Income 147 5.911 72,880 73,027 5,911 Charitable Activities Membership Training Fees Msc Course & P￿-training Fees Short Courses Events Publication Income Rwm Hire and Lettings clin￿ Ac￿5 and SeTrice5 Other Total Income 230,7 471,009 166,812 9,443 26,777 16,469 2,588 11,539 230,706 471,009 166,812 9,443 26,777 16,469 2,588 11,539 1018 744 ExpenditLire: Charitable Activities Membership Ed￿rI Training Courses MSC Course & Pre-training Short Courses Events Publications ainical Access & SeNi Total Expenditure 234,554 234,554 507,855 191,228 20,628 14,108 11,912 40,400 548,255 191,228 20,628 15,468 11,912 1,360 1028 857 1070 617 Net IncomelExpenditure before gain51(10sses) Net Gainsl (Losses) on Investsnents Net Incomel(Expenditure) (82,993) 31,120 (51,873) Transfers between Funds P4et Movement in Funds 191,581) (26,667) 53,130 {65,118) Total Funds Brought Forward Total Funds CaFrled Fonvard 1848 835 £1757 254 167 016 £220 146 3 875 848 £3 810 730 £1833.330