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2025-09-30-accounts

BRITISH PSYCHOTHERAPY FOUNDATION

Annual Report & Financial Statements For Year Ended 30 September 2025

Company number: 08238969 Charity Registra-on Number: 1150806

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Contents

ADMINISTRATIVE DETAILS............................................................................................................................ 3
OPERATING AND FINANCIAL REVIEW.......................................................................................................... 5
1.
ABOUT THE BRITISH PSYCHOTHERAPY FOUNDATION ..................................................................... 5
2.
REPORT FROM CHAIR OF THE BOARD OF TRUSTEES ....................................................................... 6
3.
REPORT FROM THE CHIEF EXECUTIVE OFFICER ............................................................................... 6
4.
GOVERNANCE AND STRUCTURE ....................................................................................................... 7
5.
REVIEW OF OPERATIONS .................................................................................................................. 8
TRAINING ................................................................................................................................................... 8
MEMBERSHIP ............................................................................................................................................. 8
EVENTS ...................................................................................................................................................... 9
MARKETING ............................................................................................................................................... 9
CLINICAL SERVICES .................................................................................................................................... 9
FUNDRAISING .......................................................................................................................................... 10
6.
HEALTH AND SAFETY AND BUILDING UPDATES ............................................................................. 10
7.
STAFFING ........................................................................................................................................ 10
8.
EQUITY, INCLUSION AND DIVERSITY .............................................................................................. 11
9.
SAFEGUARDING .............................................................................................................................. 11
10.
POLICY DEVELOPMENT .............................................................................................................. 11
11.
REVIEW OF FINANCIAL PERFORMANCE ..................................................................................... 12
12.
RISK MANAGEMENT ................................................................................................................... 14
13.
PLANS FOR FUTURE .................................................................................................................... 16
INDEPENDENT AUDITOR’S REPORT............................................................................................................ 18
STATEMENT OF FINANCIAL ACTIVITIES...................................................................................................... 22
STATEMENT OF FINANCIAL POSITION........................................................................................................ 23
STATEMENT OF CASH FLOWS..................................................................................................................... 24
NOTES TO THE FINANCIAL STATEMENTS................................................................................................... 25

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ADMINISTRATIVE DETAILS

Charity Trustees

Trustees:

Professor Jean Knox (Chair) Appointed 21 November 2020 Steven Flower (Vice Chair) Appointed 21 June 2022 (Resigned 29 April 2025) Liza Catan Appointed 21 November 2020 (Resigned 29 April 2025) Jemma Corenbloom Appointed 21 March 2023 Joao Botas Appointed 28 November 2023 Giles Allen (Vice Chair) Appointed 16 October 2024 (Appointed Vice Chair 29 April 2025) Dawn Jackson Appointed 21 November 2024 (Deceased 31 July 2025) Paul Rohleder Appointed 25 March 2025 Jan Hepburn Appointed 29 July 2025 Sally Warren Appointed 22 May 2025

Lay Trustees

Saranja Sivachelvam Appointed 26 September 2023 Daniel Thorneloe Appointed 31 July 2024 Meleanie Catling Appointed 23 July 2025

Audit and Risk Commi6ee

Steven Flower (Chair) (Resigned 29 April 2025) Melanie Catling (Resigned 23 July 2025) Adesola Osuji Appointed June 2023 Jeremy Stockwell (Chair) Appointed May 2023 – Appointed Chair 29 April 2025 Terry Sahathevan Appointed 24 September 2024 Firoz Bhaiyat Appointed 7 January 2025

Senior Management Team

Chief ExecuDve: Dr Frances Gillies Director of Clinical Services: Angela Marsh Director of Membership & CommunicaDons: MaFhew Aldridge Director of Strategic Development: Dr Wayne Full

Principal & Registered Office:

37 Mapesbury Road London NW2 4HJ

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Principal Advisers

Auditors:

Moore Kingston Smith, 9 Appold Street, London EC2A 2AP

Bankers:

NaDonal Westminster Bank Plc Chatham Rcsc, Western Avenue Waterside Court, Chatham MariDme Chatham, Kent ME4, 4RT

Investment Managers :

Sarasin & Partners LLP Juxon House 100 St. Paul’s Churchyard London EC4M 8BU

CCLA Senator House 85 Queen Victoria London EC4V 4ET

Triodos Bank Deanery Road Bristol BS1 5AS

Legal Advisers:

Russell-Cooke 2 Putney Hill Putney London SW15 6AB

Bates Wells 10 Queen Street Place London EC4R 1BE

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OPERATING AND FINANCIAL REVIEW

1. ABOUT THE BRITISH PSYCHOTHERAPY FOUNDATION

The BriDsh Psychotherapy FoundaDon (bpf) is a psychoanalyDc and Jungian psychotherapy membership and training organisaDon that provides clinical services to the public. The organisaDon was formed in 2013 when three psychotherapy training organisaDons came together to streamline and strengthen their training offerings, while preserving the depth and intellectual tradiDon of their shared profession.

Our porJolio of trainings spans the full professional pathway, from foundaDon level through qualifying routes and onward into post-qualificaDon study and conDnuing professional development. We train therapists to work with the parent–infant dyad, children and adolescents, adults, and couples. Some of our programmes follow the intensive psychoanalyDc model of several sessions each week over extended periods, while others focus on once-weekly psychodynamic work. Our trainees become our members, and through this process we encourage lifelong learning, professional excellence, and a strong sense of clinical responsibility.

We recognise that intensive psychotherapy remains difficult for many people to access. We are commiFed to delivering as many low-fee, long-term therapy opportuniDes as possible to maximise public benefit. Individuals may self-refer to our service and are triaged by our clinical services team, who work collaboraDvely with them to idenDfy the most suitable therapeuDc pathway. When appropriate, individuals are matched with trainees for reduced-fee therapy, or with qualified clinicians where funding allows. Where a different intervenDon is deemed more suitable, we ensure signposDng to relevant services.

Some of our members are organised into associaDons according to their theoreDcal training. The Independent PsychoanalyDc Child and Adolescent Psychotherapy AssociaDon (IPCAPA) focuses on work with children and families within the independent tradiDon. The PsychoanalyDc Psychotherapy AssociaDon (PPA) includes those trained intensively to work with adults, while the BriDsh Jungian AnalyDc AssociaDon (BJAA) includes Jungian analysts and Jungian psychodynamic psychotherapists. We have an increasing number of members who are graduates of our other trainings, including psychodynamic psychotherapy, parent-infant work, and couples therapy.

This has been another year of planned investment by the Trustees to strengthen the organisaDon, improve the quality of the student experience and enhance public benefit. The Trustees remain commiFed to professionalising the bpf and ensuring we are equipped to meet the needs of a modern training and clinical organisaDon. As those investments begin to bed in, our focus is now increasingly on growing and diversifying our income, alongside careful cost management, to ensure we remain financially sustainable and able to conDnue providing access to high-quality psychotherapy for the public.

bpf’s mission

The bpf is a charity and its mission is to provide the public with access to psychotherapists who have undertaken rigorous, intensive, and academically excellent trainings and who are supported by a membership body that provides career-long, conDnuing professional development. The charity aims to educate the public about psychoanalyDc theory and pracDce and have influence over social policy to increase access to intensive, psychoanalyDcally informed psychotherapy. We are working to increase accessibility to our trainings through fundraising for training bursaries. We are also commiFed to increasing the diversity in our membership, so that all of society is represented. We are also striving to make our clinical services more widely available to the public, geographically and economically.

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bpf’s public benefit

The objects of the bpf are for the public benefit; they aim to preserve mental health and relieve mental distress, parDcularly through psychotherapy, in all or any of its aspects, by:

The Trustees take account of the Charity Commission guidance on public benefit when planning its’ acDviDes.

2. REPORT FROM CHAIR OF THE BOARD OF TRUSTEES

As Chair of the BriDsh Psychotherapy FoundaDon, I am pleased to introduce this Annual Report and reflect on another year of commitment, collaboraDon and shared purpose across our organisaDon. Our strength lies in the dedicaDon of our members, trainees, staff and volunteers, who conDnue to uphold the values and tradiDons of psychoanalyDc and Jungian psychotherapy while helping us evolve for the future.

This year, we have conDnued the work of strengthening our organisaDon so that we can deliver high-quality training and make a meaningful contribuDon to public mental health. My fellow Trustees and I remain deeply grateful for the Dme, skill and care given by so many people across the bpf, without whom this work would not be possible. Together, we are building a sustainable, inclusive and vibrant professional community that will support the development of future generaDons of psychotherapists.

On behalf of the Board, I would like to thank everyone involved with the bpf for their ongoing commitment to our mission and our public benefit. We look forward to conDnuing this work together in the year ahead.

3. REPORT FROM THE CHIEF EXECUTIVE OFFICER

This has been a year defined by purposeful change. We have built firm foundaDons to ensure that the bpf conDnues to be a high-quality professional membership organisaDon and training organisaDon that serves the public good. The decisions we have taken to professionalise operaDons, improve governance, strengthen academic and clinical quality, and invest in our infrastructure are already helping us move towards a more secure and sustainable future.

We are now entering a new strategic phase. Our focus is shiPing to expanding access to our trainings, strengthening our clinical services and developing new income streams that will ensure we can widen the benefit we bring to society. As need and demand for high-quality psychotherapy conDnues to grow, we want the bpf to be increasingly recognised as a centre of excellence in both educaDon and clinical delivery.

Our ambiDon is to become a financially resilient and naDonally influenDal organisaDon, while remaining guided by our values and our commitment to improving lives. I would like to thank our members, staff, trainees, Trustees and supporters for their belief in this direcDon and for their significant contribuDons throughout the year. We are proud of how far we have come and energised by what comes next.

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4. GOVERNANCE AND STRUCTURE

The bpf conDnues to be governed as a charitable company limited by guarantee, working in accordance with its updated ArDcles of AssociaDon. Over the course of the year, the Board of Trustees strengthened its governance arrangements to ensure conDnued alignment with Charity Commission guidance and the Charity Governance Code for smaller chariDes. This work included the review of our structured annual programme of business, enhanced inducDon for new trustees, improvements to training and development, and greater transparency in reporDng through digital access to documentaDon.

The Audit & Risk Advisory CommiFee has maintained strong oversight of the organisaDon’s internal controls, risk management and compliance with data protecDon legislaDon. Trustees have conDnued to support the embedding of improved risk processes across the organisaDon, enabling beFer visibility of strategic and operaDonal risks and clearer escalaDon of concerns. Through these acDons, the Trustees have ensured that leadership, assurance and decision-making processes remain robust and fit for purpose as the organisaDon grows in size and complexity.

The Trustees confirm that they have considered the Charity Commission’s public benefit guidance in all planning and decision-making and remain commiFed to ensuring that the organisaDon’s resources and acDviDes deliver meaningful mental health benefit to the public.

The Trustees recognised that due to the growth and conDnuing professionalisaDon of the organisaDon, the ArDcles of AssociaDon were no longer fit for purpose and needed updaDng. The board worked with our solicitor to look at where changes and addiDons were needed. At the AGM in May 2025 the proposed changes to the bpf’s ArDcles of AssociaDon were approved by over 88% of the voDng members.

At the start of 2025, the Trustees set their new Strategy that is due to run unDl 2030. The strategy recognises that psychoanalyDc psychotherapy training needs to be professionalised and to move away from the tradiDonal model of being administered purely by volunteers. To raise standards for our trainees and our paDents, trustees have commiFed to invesDng in the professionalisaDon of the bpf. This comes at a financial cost, and the execuDve team have been tasked with raising income alongside raising standards.

The three strategic prioriDes for the next five years are:

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5. REVIEW OF OPERATIONS

TRAINING

Our training provision conDnues to represent a major source of public benefit and professional contribuDon to the field of psychoanalyDc and Jungian psychotherapy. The structure of our pathways supports a complete professional journey from iniDal exploraDon through qualifying routes and onward into advanced clinical specialisms.

Across the year, around 420 trainees engaged in our programmes, and retenDon remained excepDonally high.

Our pre-clinical trainings include:

Our qualifying trainings include:

Our post-qualificaDon courses include:

Both programmes achieved BriDsh PsychoanalyDc Council accreditaDon during the year

The bpf has conDnued to enhance academic foundaDons across all programmes, with strengthened quality assurance procedures, alignment with Office for Students expectaDons, and expanded digital learning resources to improve consistency and accessibility.

MEMBERSHIP

Membership numbers have grown over the period with 733 members being registered at September 2025. The demographic profile of our community has begun to shiP as more trainees join and progress through training, contribuDng to a younger and more diverse membership than in previous years. Members have engaged acDvely with organisaDonal life, whether through curriculum development, governance, ethics, or delivery of our growing CPD offer.

We gained 6 new members via our equivalency pilot scheme, which has now been opened to new applicaDons on an annual basis. In 2024 the North of England AssociaDon of PsychoanalyDc Psychotherapists (NEAPP) closed its doors, and we welcomed their members into the bpf adding 49 new members and a very welcome North of England cohort.

We have placed a renewed focus on the membership experience, strengthening communicaDon channels, expanding opportuniDes for peer support, and modernising our website to include improved resources and an online forum for discussion and networking. The termly membership network meeDngs, aFended by the Chair and Chief ExecuDve, have created a more transparent dialogue with the membership and generated valuable feedback that has informed strategic planning.

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The Trustees recognise that widening access to training is central to securing future diversity in membership. The organisaDon’s development of a fundraising funcDon has therefore been closely aligned with ambiDons to increase bursary provision and support individuals who would otherwise be unable to train.

EVENTS

During the year we held a total of 42 events. 15 of these were member only events and 27 were public events with a total of 3,285 people aFending.

709 people aFended our virtual Open Day.

MARKETING

Between September 2024 and September 2025, we recorded a notable rise in keyword visibility and ranking strength. Overall keyword movements were up by around 500 posiDons across Google results which is nearly a fourfold improvement on the previous year’s gain of +126. High-value terms such as “Jungian training” and “Psychodynamic Psychotherapy Training London” maintained top posiDons, while new gains were achieved across long-tail searches including “foundaDon course in counselling and psychotherapy” and “low-cost psychotherapy London.” The breadth of ranked keywords also expanded, confirming that bpf is now appearing for a wider range of relevant psychotherapy and training-related searches. Overall, the data reflects a marked strengthening of bpf’s online visibility and authority within its field.

CLINICAL SERVICES

We conDnue to receive many more enquiries for our low-fee psychotherapy schemes, both once weekly and intensive psychotherapy, than we can place. We have been gathering data about the people that we cannot offer help to, but are suitable for our services, so that we can focus our fundraising efforts on providing services to meet this unmet need.

Enquiries Assessment Placed with
trainee		 Placed with
qualifed member
Intensive low fee therapy 304 48 30 9
Once weekly low fee therapy 433 67 48 4
Consulta-on and referral to
member		 143 45 N/A 50
Mid fee intensive therapy with
member		 18 7 N/A 2
Couples therapy low fee 62 12 9 0
Mid and full fee once weekly
therapy with member		 6 4 0 1

We have added a couple of part Dme posts to the clinical services team to try to meet the demand from the public.

We have started a couple’s therapy clinic, alongside our Psychodynamic Couples Therapy training. This will develop into a referral system for the newly qualified graduates.

We have been exploring the possibility of a referral route to group therapy. This has been partly through the offer of a phone call to those we cannot place in once weekly low-fee psychotherapy, and we are planning to conDnue to explore this in the coming year with the help of some group therapy trained bpf members.

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We implemented a new IT system for clinical services ensuring greater paDent confidenDality and security.

FUNDRAISING

This year saw the establishment of a new fundraising funcDon to support the organisaDon’s strategic goal of becoming a fundraising charity. Work completed included registraDon with the Fundraising Regulator, development of essenDal policies, and creaDon of a donor and grant pipeline. The team also designed and implemented integrated fundraising web pages and digital donaDon funcDonality, making it easier for supporters to engage.

FoundaDons have been laid for future income generaDon through trusts and grants, individual giving, and pilot fundraising events. Our case for support has been developed, seSng out clear needs, impact goals and outcomes.

Our future fundraising focus will be on three key areas:

  1. Expanding bursaries and scholarships for trainees who would not otherwise access training.

  2. ContribuDng to core costs to deliver our mission and objecDves.

  3. Raising funds to provide low-fee psychotherapy for those who could not otherwise access intensive, long-term treatment.

6. HEALTH AND SAFETY AND BUILDING UPDATES

The Mapesbury Road premises conDnue to be an important asset, providing a physical hub that supports both teaching and clinical acDvity. Over the last year, significant investment has been made to ensure that the building remains welcoming, safe, and operaDonally suitable for a growing organisaDon. Seven rooms have been refurbished to improve comfort, accessibility and digital capacity, enabling more effecDve hybrid learning for trainees and beFer experiences for staff and visitors.

EssenDal works were completed to replace the heaDng system and improve both safety and environmental efficiency. Audio-visual upgrades have enhanced the quality of teaching and seminar parDcipaDon for those who aFend remotely. Health and safety pracDces have also been strengthened, including improvements to fire safety, lone-working arrangements, and staff training, supported by expert advice from Worknest. These investments have not only addressed immediate maintenance requirements but have helped secure the building’s suitability for future expansion.

7. STAFFING

As of September 2025, the bpf’s complement of permanent staff was 42, comprising 11 full-Dme and 31 part-Dme employees. The organisaDon also relies on the dedicaDon, experDse and hard work of volunteers who run the commiFees. These include the Board, Audit & Risk CommiFee, Ethics and Professional Standards CommiFee, training commiFees of the BJAA and PPA, and various task and finish groups. The trustees and execuDve would like to thank all commiFee members and other volunteers without whom the organisaDon would not funcDon.

During the year, the following roles were recruited; Director of bpf North Psychodynamic and PsychoanalyDc Trainings; Associate Director of Income GeneraDon; IPCAPA Training Coordinator; Director of Infant ObservaDon (job share); Training & Events Coordinator (bpf North); Interim Training Administrator (IPCAPA); Technical OperaDons Manager; two Intake & Assessment Psychotherapists; and a Year Tutor for the Doctorate in Child and Adolescent Therapy (IPCAPA).

The decision was made early in the year to outsource the finance funcDon to TC Kent. Trustees thank David Ryan for his role in supporDng the transiDon of the finance funcDon and driving forward the

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professionalisaDon of the bpf. We also said farewell to Dr Elizabeth Murphy, Director of the Child and Adolescent Doctorate, who reDred aPer playing a pivotal role in securing NHSE funding for the programme.

8. EQUITY, INCLUSION AND DIVERSITY

Increasing the diversity in our membership and trainee and paDent populaDons remains a core priority of our mission. We are doing this by fundraising for bursaries for trainees from global majority populaDons and socio-economic populaDons that are currently underrepresented in our organisaDon. We are also fundraising for clinical services so that we can offer low-fee, high quality, intensive psychotherapy to hardto-reach paDents. We conDnue to embed EDI training in our staff learning and development plan, and we will be working towards our next accreditaDon with the Centre of Diversity.

We recognise that issues arising for our trainees with neurodiverse needs are parDcularly complex. Our trainings have tradiDonally relied on single models of teaching and learning and we are working hard to research and develop new ways of teaching that maintain our core tenets of learning such as the development of reflecDve capacity, the integraDon of theory with clinical pracDce, the flexibility and capacity to use one’s self and emoDonal experience as a therapeuDc tool. Psychotherapy trainings are unique amongst professional trainings as we expect our trainees to allow their inner worlds to be explored and changed across their training. We are conDnuing to examine how the culture of psychoanalysis can learn from and integrate with mulDple cultural experiences.

9. SAFEGUARDING

We strengthened our safeguarding arrangements this year by introducing an annual safeguarding oversight report, “Our Approach to Safeguarding,” which is now reviewed by the Board of Trustees to provide regular assurance and visibility of safeguarding pracDce. We completed a tender process to appoint a new responsible organisaDon to deliver Disclosure and Barring Service checks for trainees and staff, and we produced FAQs and visual guides to help trainees navigate the process. A dedicated staff member has been appointed as the single point of contact for trainee DBS checks and will conDnue to build specialist experDse in this area. We also conDnued to deliver IntroducDon to Safeguarding training for staff and provided regular safeguarding updates through the member newsleFer to reinforce awareness and shared responsibility across the organisaDon.

10. POLICY DEVELOPMENT

This year we developed and published a Student Complaints Policy and Academic Appeals Policy in line with the Office for the Independent Adjudicator’s Good PracDce Framework, holding consultaDon workshops with key staff to ensure alignment with FREDIE (fairness, respect, equity, diversity, inclusion and engagement) and good pracDce principles. We also provided clear step-by-step guidance to support students in understanding the stages of each process. In addiDon, we introduced a Student Credit Control Policy and updated the Student Terms and CondiDons. To improve accessibility and transparency, we launched a new Student RegulaDons and Policies webpage as a central hub for all student regulatory and policy informaDon. Work is underway on a further suite of student policies, including an AddiDonal ConsideraDon Policy, Student Code of Conduct and Disciplinary Processes, Student Pregnancy, Maternity and Parental Policy, Fitness to PracDce Policy, and Fitness to Study Policy. Subject to the compleDon of the consultaDon process, these policies are expected to be implemented in January 2026.

We signed up with the Office of the Independent Adjudicator (OIA) and, as part of this, we launched our official Student Complaints Policy and Academic Appeals Policy in line with the OIA’s Good PracDce Framework. ConsultaDon workshops with key staff ensured that the policies reflect FREDIE principles and provide clear, fair processes for students.

We introduced a quarterly overview report of disciplinary acDons, complaints and subject access requests to the Senior Management Team and the Audit and Risk CommiFee, ensuring regular oversight and governance-level visibility of these maFers. We also conduct end-of-process internal reviews of complaints

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and disciplinary cases to idenDfy and monitor lessons learned, supporDng conDnuous improvement in our approach and ensuring that insights are integrated into pracDce.

11. REVIEW OF FINANCIAL PERFORMANCE

Total income for the year ended 30 September 2025 was £2.819m (18 months to 30 September 2024: £3.055m). Total expenditure for the year ended 30 September 2025 was £3.362m (18 months to 30 September 2024: £3.788m.

Funding

Of the total income of £2.819m received in the year ended 30 September 2025, bpf received £251,516 from membership subscripDons (18 months to 30 September 2024: £317,840), £1.261m from training fees (18 months to 30 September 2024: £1.267m), £1.127m from pre-training and short courses (18 months to 30 September 2024: £1.095m), £150,507 from DonaDons and Investment Income (18 months to 30 September 2024: £332,752) and £28,669 from events, publicaDon income, clinical services and other income (18 months to 30 September 2024: £41,474).

Expenditure on charitable acDviDes for the year was £3.353m (18 months to 30 September 2024: £3.788m), and expenditure on raising funds was £9,407 (18 months to 30 September 2024: nil)

Staffing costs

A large proporDon of our expenditure is in staffing costs, which were £1.474m in 2024-2025 (18 months to 30 Sept 24: £1.890m),

Investment policy

Under the memorandum and articles of association, the charity has the power to invest its funds at the discretion of the directors. The trustees considered the return on investments to be in keeping with present market conditions.

In making investment decisions, the trustees have exercised due care and skill and, to the best of their ability, selected investments that are appropriate for the charity, taking account of:

The trustees have addressed the ethical aspects of the charity's investments to ensure they are not in conflict with the aims of the charity. The trustees monitor and review the performance of the external investment manager.

Funds held on deposit for the FoundaDon, excluding balances held in the FoundaDon’s current account, generated income of £39,610 for the year (18 months to 30 September 2024: £65,534).

The investment porJolio reported a gain of £39,499 as at 30 September 2025 (18 months to 30 Sept 24: £137,651).

The bpf held total cash and investments of £1.542m as at 30 September 2025 (18 months to 30 Sept 24: £1.958m).

The Board of Trustees approved a strategy of funding from reserves for growth, this has seen the bpf income and expenditure increase proportionately.

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Reserves

The Board has reviewed the major risks facing the charity and, as a result, BPF is committed to maintaining free reserves equivalent to 3 to 6 months’ operating costs, being £500,000 to £1,000,000, together with an additional £20,000 legal fee reserve to provide adequate cover for probable future legal costs.

Key financial control systems are reviewed annually. On 30 September 2025 free reserves were £604,645 which was within the target range set.

A number of adult psychotherapy trainings from the 3 merged organisations remain active. The board is committed to ensuring that these trainings continue until the trainees concerned have qualified which will entail using a level of its reserves.

In preparing those statements the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which 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.

In accordance with company law as the company's directors, we certify that: so far as we are aware, there is no relevant audit information of which the charitable company's auditor is unaware; and as directors of the charitable company we have taken all the steps that we ought to have taken, in order to make ourselves aware of any relevant audit information and to establish that the charitable company's auditor is aware of that information.

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12. RISK MANAGEMENT

The bpf maintains a robust and dynamic approach to risk management, aligned with the Charity Commission’s CC26 guidance on ChariDes and Risk Management. Our framework is designed to protect our beneficiaries, reputaDon, people, and assets, while enabling innovaDon and strategic growth.

Risk management is embedded across all levels of the organisaDon:

The risk register is structured around nine key categories:

  1. Income and Financial Sustainability

  2. Governance, Compliance and Safeguarding

  3. OperaDonal

  4. Training and EducaDon

  5. Clinical Services

  6. MarkeDng, CommunicaDons and Membership

  7. Buildings and Health & Safety

  8. IT and Digital Security

  9. Fundraising

Each risk is assessed using a matrix that evaluates likelihood, impact, and control effecDveness, producing a residual risk score. Risks are prioriDsed using a traffic light system (Low, Medium, High) and reviewed regularly by SMT and the Audit & Risk CommiFee.

The board sets a risk tolerance for each risk and tasks SMT to work towards bringing the risk scores in line with the level of risk tolerance. The board’s approach is to find a balance between managing and miDgaDng risk whilst encouraging growth and development.

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Risk tolerance levels

Risk Category Risk Descrip-on Tolerance level
Income and fnancial sustainability Loss or delay of key income streams (e.g. training fees,
NHSE contract, fundraising) leading to cashfow defcit
and reduced fnancial resilience.		 Medium
Governance, compliance & safeguarding Failure to comply with safeguarding or regulatory
requirements resulDng in harm to paDents, trainees,
members or staf members and potenDal regulatory
sancDon.		 Low
Opera-onal Breakdown in core operaDonal systems (training
provision, administraDon, HR, IT) leading to service
disrupDon,reputaDonal damage and complaints.		 Medium
Training and educa-on Failure to recruit sufcient trainees or to meet
accrediDng body requirements, resulDng in loss of
income and reputaDonal harm to bpf training
programmes.		 Medium
Clinical services Failure to provide sufcient standard of care to paDents
including lack of safeguarding, professional standards or
quality of service leading to harm to paDents,
reputaDonal damage and complaints.		 Low
Marke-ng,
communica-ons
and
membership		 Failure to deliver efecDve markeDng, communicaDons
and membership engagement leading to reduced
trainee numbers, poor member experience and
retenDon, poor fundraising results resulDng in low-
incomegeneraDon and reputaDonal harm.		 High
Building issues / health & safety Failure to comply with health and safety regulaDons and
building safety guidance leading to capacity issues, poor
building maintenance, prosecuDon by Health and Safety
ExecuDve,harm to buildingusers.		 Low
IT and data security Cyber-aFack, data breach, or major IT failure resulDng in
service disrupDon, loss of confdenDal data and
reputaDonal harm.		 Medium
Fundraising Failure to comply with fundraising regulaDons and be
successful in fundraising bids leading to prosecuDon,
lack of incomegeneraDon and reputaDonal damage.		 Medium

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13. PLANS FOR FUTURE

Our strategic plan is for 2025 – 2030. The plan focuses on three new core objecDves with the following cross-cuSng themes underpinning each objecDve: Membership and training, diversity, accessibility, and clinical services.

SP1. Become a na-onwide centre of excellence for psychoanaly-c academia, research, and clinical services.

We believe that safe and effecDve psychotherapy must be underpinned and informed by acDve research and an academically focused community. The bpf is a growing community of rigorously trained professionals and we aim to foster an environment of intellectual invesDgaDon and knowledge disseminaDon. We aim to enable our members to be informed by the latest developments in psychoanalyDc thinking and to find accessible ways for this knowledge to reach the wider public. We will conDnue to work with our academic partners such as University College London, The Anna Freud Centre, Birkbeck University, Exeter University. We will conDnue our own work towards our registraDon with the Office for Students and to conDnually improve our academic standards and quality assurance.

SP2. Become a fundraising organisa-on.

The bpf has never been a fundraising organisaDon, and we have tradiDonally relied on our trainings and membership fees for income generaDon. We are now in a posiDon where we can begin to fundraise so that we can increase our social impact through providing greater access to low-fee psychotherapy, increase the diversity in our trainee and membership populaDons by raising money for training bursaries, and creaDng greater financial stability for the organisaDon.

Our fundraising acDviDes will include:

Provide services to the public through disseminaDon of knowledge, training excellent psychotherapists, and increasing access to low-fee, intensive psychotherapy.

Fundraise through bids to trusts and foundaDons to increase accessibility for people with complex needs to intensive, long-term psychotherapy.

Provide employment opportuniDes to our qualified members by increasing our clinical services capacity.

Fundraise to generate income through legacies and individual giving to provide bursaries for people who cannot usually afford our training fees.

Fundraise through legacies, individual giving and events to cover core costs of running the organisaDon.

SP3. Con-nue to run a highly effec-ve, efficient, and inclusive organisa-on.

We are commiFed to improving and consolidaDng the work we have undertaken to professionalise the organisaDon. We will be focusing on income generaDon to improve financial health, we will conDnue to improve the governance arrangements at board and internal levels, we will conDnue to monitor risk and performance and provide feedback to the trustees and members.

We will:

ConDnue to provide excellent membership services including fostering clear communicaDons between staff and members.

Develop closer relaDonships with our trainees and students to create an environment of co-creaDon of the learning experience.

ConDnue to develop a learning environment that takes account of diverse learning needs of our students and trainees.

16

ConDnue to develop the skills and knowledge of our staff and foster an inclusive, nurturing work environment.

Ensure robust financial and risk management controls are in place.

Ensure effecDve governance with reviews.

Ensure our policies comply with EDI and modern anD-slavery regulaDons. Ensuring our recruitment and selecDon processes are fair and open.

This report was approved by the board of directors on 5[th] May 2026 and signed on its behalf.

Jean Knox, Chair of Board of Directors

17

INDEPENDENT AUDITOR’S REPORT

TO THE MEMBERS OF THE BRITISH PSYCHOTHERAPY FOUNDATION

Opinion

We have audited the financial statements of The BriDsh Psychotherapy FoundaDon (‘the company’) for the year ended 30 September 2025 which comprise the Statement of Financial AcDviDes, the Statement of Financial PosiDon, the Statement of Cash Flows and notes to the financial statements, including significant accounDng policies. The financial reporDng framework that has been applied in their preparaDon is applicable law and United Kingdom AccounDng Standards, including FRS 102 ‘The Financial ReporDng Standard Applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted AccounDng PracDce).

In our opinion the financial statements:

· give a true and fair view of the state of the charitable company’s affairs as at 30 September 2025 and of its incoming resources and applicaDon of resources, including its income and expenditure, for the year then ended;

· have been properly prepared in accordance with United Kingdom Generally Accepted AccounDng PracDce; and

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

Basis for opinion

We conducted our audit in accordance with InternaDonal Standards on AudiDng (UK) (ISAs (UK)) and applicable law. Our responsibiliDes under those standards are further described in the Auditor’s ResponsibiliDes for the audit of the financial statements secDon of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibiliDes 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 audiDng the financial statements, we have concluded that the trustees’ use of the going concern basis of accounDng in the preparaDon of the financial statements is appropriate.

Based on the work we have performed, we have not idenDfied any material uncertainDes relaDng to events or condiDons that, individually or collecDvely, may cast significant doubt on the charitable company's ability to conDnue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibiliDes and the responsibiliDes of the trustees with respect to going concern are described in the relevant secDons of this report.

Other information

The other informaDon comprises the informaDon included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other informaDon contained within the annual report. Our opinion on the financial statements does not cover the other informaDon and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other informaDon and, in doing so, consider whether the other informaDon is materially inconsistent with the financial statements or our knowledge obtained in the

18

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE BRITISH PSYCHOTHERAPY FOUNDATION (CONTINUED)

course of the audit or otherwise appears to be materially misstated. If we idenDfy such material inconsistencies or apparent material misstatements, we are required to determine whether there is 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 informaDon, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other ma6ers prescribed by the Companies Act 2006

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

· the informaDon given in the trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

· the trustees’ annual report has been prepared in accordance with applicable legal requirements.

Ma6ers on which we are required to report by excep-on

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not idenDfied material misstatements in the trustees’ annual report.

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

· adequate accounDng 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 accounDng records and returns; or

· the trustees were not enDtled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exempDon in preparing the trustees’ annual report and from preparing a strategic report.

Responsibili-es of trustees

As explained more fully in the trustees’ responsibiliDes statement set out on page 13, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparaDon of the financial statements and for being saDsfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparaDon 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 conDnue as a going concern, disclosing, as applicable, maFers related to going concern and using the going concern basis of accounDng unless the trustees either intend to liquidate the charitable company or to cease operaDons, or have no realisDc alternaDve but to do so.

Auditor’s Responsibili-es for the audit of the financial statements

Our objecDves are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that

19

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE BRITISH PSYCHOTHERAPY FOUNDATION (CONTINUED)

includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepDcism throughout the audit. We also:

· IdenDfy and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecDng a material misstatement resulDng from fraud is higher than for one resulDng from error, as fraud may involve collusion, forgery, intenDonal omissions, misrepresentaDons, or the override of internal control.

· Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effecDveness of the charitable company’s internal control.

· Evaluate the appropriateness of accounDng policies used and the reasonableness of accounDng esDmates and related disclosures made by the trustees.

· Conclude on the appropriateness of the trustees’ use of the going concern basis of accounDng and, based on the audit evidence obtained, whether a material uncertainty exists related to events or condiDons that may cast significant doubt on the charitable company’s ability to conDnue as a going concern. If we conclude that a material uncertainty exists, we are required to draw aFenDon in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or condiDons may cause the charitable company to cease to conDnue as a going concern.

· Evaluate the overall presentaDon, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transacDons and events in a manner that achieves fair presentaDon.

We communicate with those charged with governance regarding, among other maFers, the planned scope and Dming of the audit and significant audit findings, including any significant deficiencies in internal control that we idenDfy during our audit.

Explana-on as to what extent the audit was considered capable of detec-ng irregulari-es, including fraud

IrregulariDes, including fraud, are instances of non-compliance with laws and regulaDons. We design procedures in line with our responsibiliDes, outlined above, to detect material misstatements in respect of irregulariDes, including fraud. The extent to which our procedures are capable of detecDng irregulariDes, including fraud is detailed below.

The objecDves of our audit in respect of fraud, are; to idenDfy and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implemenDng appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud idenDfied during the audit. However, the primary responsibility for the prevenDon and detecDon of fraud rests with both management and those charged with governance of the charitable company.

20

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE BRITISH PSYCHOTHERAPY FOUNDATION (CONTINUED)

Our approach was as follows:

· We obtained an understanding of the legal and regulatory requirements applicable to the charitable company and considered that the most significant are the Companies Act 2006, the ChariDes Act 2011, the Charity SORP, and UK financial reporDng standards as issued by the Financial ReporDng Council.

· We obtained an understanding of how the charitable company complies with these requirements by discussions with management and those charged with governance.

· We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.

· We inquired of management and those charged with governance as to any known instances of noncompliance or suspected non-compliance with laws and regulaDons.

· Based on this understanding, we designed specific appropriate audit procedures to idenDfy instances of non-compliance with laws and regulaDons. This included making enquiries of management and those charged with governance and obtaining addiDonal corroboraDve evidence as required.

There are inherent limitaDons in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulaDons that are not closely related to events and transacDons reflected in the financial statements. Also, the risk of not detecDng a material misstatement due to fraud is higher than the risk of not detecDng one resulDng from error, as fraud may involve deliberate concealment by, for example, forgery or intenDonal misrepresentaDons, or through collusion.

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 company’s members those maFers we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permiFed by law, we do not accept or assume responsibility to any party other than the charitable company and charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Luke Holt Senior Statutory Auditor

for and on behalf of Moore Kingston Smith LLP, Statutory Auditor 9 Appold Street, London, EC2A 2AP

Date: 30th June 2026

21

BRITISH PSYCHOTHERAPY FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE 12 MONTH PERIOD ENDING 30 SEPTEMBER 2025

Income and Endowments:
Donations and Legacies
2
Investment income
3
Charitable Activities
Membership
Training Fees
4
Pre-trainings including MSc course fees
Short courses
Events
Publication income
Clinical access and services
Other
Total Income
Expenditure:
Charitable Activities
5
Membership
Education
Training Courses
MSc Course & pre-trainings
Short Courses
Events
Publications
Clinical Access & Services
Raising Funds
6
Fundraising
Total Expenditure
Net Income/Expenditure before gains/(losses)
Net Gains/(Losses) on Investments
Net Income/Expenditure
Transfers Between Funds
Net Movement in Funds
Total Funds brought forward
Total Funds carried forward
Notes		 Unrestricted
Designated
Restricted
Total 2025
Total 2024
12 Month
Period
18 Month
Period
£
£
£
£
£
20,197
-
90,700
110,897
267,218
39,610
-
-
39,610
65,534
251,516
-
-
251,516
317,840
1,261,271
-
-
1,261,271
1,267,243
1,040,678
-
-
1,040,678
997,203
86,490
-
-
86,490
98,569
10,276
-
-
10,276
9,122
10,441
-
-
10,441
12,291
6,795
-
-
6,795
14,829
1,157
-
-
1,157
5,232
2,728,431
-
90,700
2,819,131
3,055,081
248,890
-
-
248,890
335,096
1,588,456
21,009
104,058
1,713,522
2,078,793
1,072,717
-
-
1,072,717
1,058,355
88,892
-
-
88,892
134,127
118,729
-
-
118,729
9,934
13,697
-
-
13,697
49,222
96,548
-
-
96,548
122,520
9,407
-
-
9,407
-
3,237,336
21,009
104,058
3,362,402
3,788,047
(508,905)
(21,009)
(13,358)
(543,271)
(732,966)
39,499
-
-
39,499
137,651
(469,406)
(21,009)
(13,358)
(503,771)
(595,315)
26,667
(26,667)
-
-
-
(442,739)
(47,675)
(13,358)
(503,771)
(595,315)
1,047,384
1,803,189
224,013
3,074,586
3,669,901
604,645
1,755,514
210,655
2,570,814
3,074,586

22

BRITISH PSYCHOTHERAPY FOUNDATION STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2025

Note
FIXED ASSETS
Intangible asset
9
Tangible fixed assets
10
Freehold property & improvements
12
Investments
13
CURRENT ASSETS
Debtors
14
Cash at bank & in hand
CREDITORS:Amounts falling due within one year
15
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS:Amounts falling due after one year
15
FUNDS
16
Restricted funds
Designated funds
Unrestricted funds		 £
£
28,310
44,664
83,372
91,521
1,666,666
1,693,333
1,204,612
1,165,113
2,982,960
2,994,631
913,398
572,877
337,196
793,361
1,250,594
1,366,238
(1,662,740)
(1,286,283)
(412,146)
79,955
2,570,814
3,074,586
-
-
210,655
224,013
1,755,514
1,803,189
604,645
1,047,384
2,570,814
3,074,586
12 Month Period to
18 Month Period to
£
30/09/2025
30/09/2024		 £
£
28,310
44,664
83,372
91,521
1,666,666
1,693,333
1,204,612
1,165,113
2,982,960
2,994,631
913,398
572,877
337,196
793,361
1,250,594
1,366,238
(1,662,740)
(1,286,283)
(412,146)
79,955
2,570,814
3,074,586
-
-
210,655
224,013
1,755,514
1,803,189
604,645
1,047,384
2,570,814
3,074,586
12 Month Period to
18 Month Period to
£
30/09/2025
30/09/2024
3,074,586
-
224,013
1,803,189
1,047,384
3,074,586

These financial statements were approved by the Board of Trustees on 5th May 2026 and were signed on its behalf by:

…..........................................................................

Jean Knox Director

Registered Company No: 08238969 Registered Charity No: 1150806

The notes on pages 25 to 32 form part of these Financial Statements

23

BRITISH PSYCHOTHERAPY FOUNDATION STATEMENT OF CASH FLOWS FOR THE 12 MONTH PERIOD ENDING 30 SEPTEMBER 2025

Note
Cash Flow from Operating Activities
Net cash provided by (used in) operating activities
19
Cash Flow from Investing Activities:
Investment Additions
Investment Disposals
Purchase of property, plant & Equipment
Net cash provided by (used in ) investing activities
Change in Cash & cash equivalents in the operating period
Cash & Cash Equivalents at the beginning of the operating period
Cash & Cash Equivalents at the end of the reporting period		 2025
2024
12 Month
Period
18 Month
Period
(426,451)
139,112
-
-
-
416,319
(29,713)
(113,802)
(29,713)
302,517
(456,164)
441,629
793,361
351,732
337,196
793,361

24

BRITISH PSYCHOTHERAPY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE 12 MONTH PERIOD ENDING 30 SEPTEMBER 2025

**1 ** Accounting Policies
**(a) ** Basis of preparation of Accounts
The financial statements are prepared under the historical cost convention with the exception of investments which are included at market value. The financial
statements have been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102,
the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charities SORP (FRS 102 second edition – effective 1 January 2019)), applicable UK
accounting standards and the Companies Act 2006.
**(b) ** Going concern
The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The trustees have made this
assessment in respect to a period of one year from the date of approval of these financial statements. The trustees of the charity have concluded that there are no
material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the
opinion that the charity will have sufficient resources to meet its liabilities as they fall due.
**(c) ** Incoming resources
Voluntary Income and donations are included in incoming resources when they are receivable, except when the donors specify that they must be used in future
accounting periods or if donors’ conditions have not been fulfilled, then income is deferred. All of the Charities training, short course income and membership income is
recognised in the period to which the income relates. Publication income relates to royalties received in relation to the British Journal of Psychotherapy and is accounted
for on a receivable basis.
Investment income is recognised on a receivable basis.
Interest income is recognised on a receivable basis.
**(d) ** Resources expended
Resources expended are recognised when a liability is incurred, inclusive of any VAT which cannot be recovered. Expenditure which is directly attributable to specific
activities has been included in these categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis
consistent with the use of these resources.
**(e) ** Cash and cash equivalents
Cash and cash equivalents includes cash in hand and current and fixed term deposits with bank, with a maturity date of less than 90 days.
**(f) ** Pension Costs
The company contributes to a stakeholder pension scheme. These costs are accounted for by charging the premiums paid in the period during which the company
benefits from the employees’ services.
**(g) ** Pension Scheme Arrangements
The Charity provides a percentage of employees' salaries which is paid into personal pension plans on behalf of employees. The percentage paid is based on basic salary
and is accounted for on an accruals basis.
**(h) ** Employee Benefits
The costs of short-term employee benefits are recognised as a liability and an expense. The costs of any material unused holiday entitlement is recognised in the period
in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to
terminate the employment of an employee or to provide termination benefits.
**(i) ** Intangible Fixed Assets
Intangible fixed assets are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Amortisation is
recognised so as to write off the cost or valuation of the assets less their residual values over their useful lives on the following bases:
Intangible fixed assets
33.33% p.a. straight line
**(j) ** Tangible Fixed Assets
Individual fixed assets costing more than £1,000 are capitalised at cost. Depreciation is provided on all tangible fixed assets at rates calculated to write off the carrying
value over their expected useful economic life as follows:
Freehold buildings
2% p.a. straight line
Library costs
15% p.a. reducing balance
Office equipment
25% p.a. reducing balance
IT equipment
33.33% p.a. straight line
**(k) ** Impairment of Fixed Assets
At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets
have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss
(if any).
**(l) ** Funds
Unrestricted Funds - These are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are
available as general funds.

Designated Funds – These form part of unrestricted funds and represent amounts set aside by the trustees for particular purposes. These funds may be returned to the general unrestricted funds at the trustees’ discretion.

Restricted Funds - These are funds which are to be used for specific purposes as laid down by the donor.

25

BRITISH PSYCHOTHERAPY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE 12 MONTH PERIOD ENDING 30 SEPTEMBER 2025

(m) Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

With the exceptions of prepayments and deferred income all other debtor and creditor balances are considered to be basic financial instruments under FRS 102. See notes 14 and 15 for the debtor and creditor notes. Other financial assets include investments (note 13) which are initially measured at fair value.

(n) Critical Accounting Estimates & Areas of Judgement

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

(o) Investments

Investments including funds under management are stated at market value at the balance sheet date. These investments are readily convertible to cash. The Statement of Financial Activities includes the net gains and losses arising on revaluations.

(p) Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered.

(q) Creditors

Aged creditors and other creditors are recognised at the settlement amount after any trade discount provided.

26

BRITISH PSYCHOTHERAPY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE 12 MONTH PERIOD ENDING 30 SEPTEMBER 2025

2 GRANTS AND DONATIONS

1
Grants
Donations
Members' and donations
3 INVESTMENT INCOME
1
Interest
Dividends
4 TRAINING FEES
1
IPCAPA Training
PPA Training
BJAA Training
Less Bad debt provision		 2025
2 Month Period
1
£
90,700
20,197
-
110,897
2025
2 Month Period
1
£
5,052
34,558
39,610
2025
2 Month Period
1
£
1,123,172
60,989
77,110
-
1,261,271		 2024
8 Month Period
£
210,000
56,750
468
267,218
2024
8 Month Period
£
6,406
59,128
65,534
2024
8 Month Period
£
1,105,549
98,619
63,075
-
1,267,243

5 CHARITABLE ACTIVITIES

Membership
Education
Qualification courses
MSc and pre-trainings
Short courses
Events
Clinical access and services
Publications
6 RAISING FUNDS
Staff costs
Other fundraising costs
7 SUPPORT COSTS
Staff costs
Other staff costs
Premises costs
Communications costs
Office running costs
Governance costs		 Direct
£
79,941
858,817
317,018
36,876
36,166		 Staff costs
Support
Total
£
£
£

76,575
92,373
248,890
-

391,483
463,222
1,713,522

373,494
382,206
1,072,717

20,250
31,765
88,892

78,789
3,774
118,729
-
2025 - 12 Month Period		 Direct
Staff costs
£
£

86,047
93,261


972,226
485,433

227,951
341,629

18,713
67,101

5,463
-

2024 - 18		 Support
Total
£
£

155,788
335,096
-

621,134
2,078,793

488,775
1,058,355

48,313
134,127

4,471
9,934
Month Period
1,328,818 940,591
973,341
3,242,750		 1,310,400
987,424		 1,318,481
3,616,305
5,867
9,863		 88,186
2,496
96,548

-
3,835
13,697		 3,320
111,932

43,198
-		 7,268
122,520

6,024
49,223
1,344,548 1,028,776
979,671
3,352,995		 1,356,918
1,099,356		 1,331,774
3,788,047
2025
12 Month Period
1
£
-
9,407
9,407
Membership
Training
Courses
MSc & pre-
training
Short
Courses
Events
£
£
£
£
£
44,894
210,689
173,840
14,448
1,717
3,749
17,592
14,515
1,206
143
24,583
115,368
95,190
7,911
940
1,678
7,875
6,498
540
64
9,826
46,115
38,050
3,162
376
13,974
65,582
54,112
4,497
534		 2024
8 Month Period
£
-
-
-

Total 2025
Total 2024
12 Month
Period
18 Month
Period
£
£

445,587
790,297

37,206
91,079

243,992
292,469

16,655
48,052

97,530
96,671

138,701
13,206
98,704
463,222
382,206
31,765
3,774		 979,671
1,331,774

27

BRITISH PSYCHOTHERAPY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE 12 MONTH PERIOD ENDING 30 SEPTEMBER 2025

SUPPORT COSTS PRIOR YEAR

Staff costs
Other staff costs
Premises costs
Communications costs
Office running costs
Governance costs		 Membership
Training
Courses
MSc & pre-
training
Short
Courses
Events
Total 2024
£
£
£
£
£
£
100,335
368,592
290,047
28,670
2,653
790,297
11,563
42,479
33,427
3,304
306
91,079
37,132
136,406
107,339
10,610
982
292,469
6,101
22,411
17,635
1,743
161
48,052
12,273
45,087
35,479
3,507
325
96,671
1,677
6,159
4,847
479
44
13,206
169,081
621,134
488,775
48,313
4,471
1,331,774

8 STAFF COSTS AND KEY PERSONNEL

No remuneration was paid to directors during the year. Expenses reimbursed to them in their capacity as directors amounted to £50 (2024: £94). A number of the directors received fees in respect of professional services rendered as psychotherapists during the year amounting to £8,995 (2024: £5,320).

The staff costs of remaining staff were:

1
Wages and salaries
Social security costs
Pension costs		 2025
2 Month Period
1
£
1,299,065
148,062
27,237
1,474,364		 2024
8 Month Period
£
1,693,887
161,045
34,721
1,889,653

Note: The Staff costs and Key Personnel figures for 2024 are based on an 18 month period whereas 2025 is based on a 12 month period. During the 18 month period of 2024, an increase in staff numbers and the number at management level took place.

The average number of persons employed by the Charity during the year was 40 (18 months to September 2024: 32)

Key management personnel for all or part of the year consisted of five individuals (2024: five). The total rumuneraton for key personnel amounted to amounted to £339,689 (2024: £439,875).

Staff receiving remuneration greater than £60,000 were:

Staff receiving remuneration greater than £60,000 were:
1
Between £60,000 and £70,000
Between £90,000 and £100,000
Between £110,000 and £120,000
Between £130,000 and £140,000		 2025
2 Month Period
1
£
3
1
-
-
4		 2024
8 Month Period
£
1
1
1
1
4

To note that staff remuneration for 2024 covered an 18-month period when compared with the 12-month remuneration in 2025.

During the 2025 year, the Charity undertook a restructuring programme which resulted in one employee being made redundant (2024: two employees). The total costs associated with the redundancy amounted to £37,288 (2024: £21,831)

9 INTANGIBLE ASSETS

Intangible assets include publication rights for the British Journal of Psychotherapy

Cost:
At 1 October
Revaluations
Additions
Disposals
At 30 September
Accumulated amortisation
At 1 October
Charge for the period
Eliminated on disposal
At 30 September
Net book value at 30 September 2025:
Net book value at 30 September 2024:		 30/09/2025
30/09/2024
£
£
133,889
133,889
-
-
5,100
-
(8,400)
-		 30/09/2025
30/09/2024
£
£
133,889
133,889
-
-
5,100
-
(8,400)
-
130,589
133,889
89,225
89,225
21,454
-
(8,400)
102,279 89,225
28,310 44,664

28

BRITISH PSYCHOTHERAPY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE 12 MONTH PERIOD ENDING 30 SEPTEMBER 2025

10 TANGIBLE FIXED ASSETS

Cost:
At 1 October
Revaluations
Additions
Disposals
At 30 September
Accumulated depreciation:
At 1 October
Charge for the period
Eliminated on disposal
At 30 September
Net book value at 30 September 2025:
Net book value at 30 September 2024:		 Freehold
Equipment
Film
Property
Furniture &
Equipment
Total
Total
Fittings
& Books
30/09/2025
30/09/2024
£
£
£
£
£
2,000,000
232,986
77,246
2,310,232
2,196,430
-
-
-
-
24,613
-
24,613
113,802
-
(98,224)
-
(98,224)
-
2,000,000
159,375
77,246
2,236,621
2,310,232
306,667
166,875
51,836
525,378
411,633
26,667
28,950
3,812
59,428
113,745
-
(98,224)
(98,224)
-
333,334
97,601
55,648
486,582
525,378
1,666,666
61,775
21,599
1,750,039
-
1,693,333
66,111
25,410
-
1,784,854

11 PRIOR YEAR ADJUSTMENT

A prior year adjusment has been processed to reclassify certain assets to reflect their intangible nature.

Restated 2024 2024 Difference
£ £
Equipment, furniture & fittings - cost 232,986 356,875 (123,889)
Intangible assets - cost 133,889 10,000 123,889
Equipment, furniture & fittings - depreciation/amortisation 166,875 246,100 (79,225)
Intangible assets - depreciation/amortisation 89,225 10,000 79,225

12 FREEHOLD PROPERTY & IMPROVEMENTS

NET BOOK VALUE
At 30 September 2025		 Total
£
1,666,666

The freehold property at Mapesbury Road was valued as at 30 September 2024 by Homeview Estate Agents at £3.5m. The property continues to be recorded in the financial statements at historic cost.

13 INVESTMENTS

Quoted Investments
Balance Brought Forward
Additions
Disposals
Unrealised and Realised Gain/ (Loss)
Market value at 30 September 2025
Held at year end:
Sarasin Alpha CIF
Triodos Bank		 30/09/2025
£
1,165,113
-
-
39,499
1,204,612
1,203,331
1,281
1,204,612		 30/09/2024
£
1,443,781
-
(416,319)
137,651
1,165,113
1,163,832
1,281
1,165,113

29

BRITISH PSYCHOTHERAPY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE 12 MONTH PERIOD ENDING 30 SEPTEMBER 2025

14 DEBTORS

Debtors
Bad Debt Provision
Trainee loans
Payments in advance
15 CREDITORS
Trade creditors
Deferred income
Credit card
Accruals
PAYE and staff related
Jungian archives
16 FUNDS
Restricted funds
Trainee Loan Fund
HEE - Equality, Diversity & Inclusion Fund
Child Training
Trainee Bursary Fund
Trainee Bursary Fund - 2018
Trainee Bursary Fund - 2019
Rosalie Joffe Fund
Lionel Monetith Lecture Fund
Eileen Curtiz
Teresa Hirsch Fund
Estella Welldon Fund
Katherine Moss Fund
Gyll Moore Fund
Premises Fund
Lincoln Legacy
Designated funds
Property Fund
Legal Fees Fund
CADF Fund
General reserves
Total reserves		 30/09/2025
30/09/2024
£
£
841,235
512,429
(21,566)
(13,356)
4,430
5,640
89,299
68,164
913,398
572,877
30/09/2025
30/09/2024
£
£
105,603
27
1,457,875
1,130,521
-
2,940
58,807
118,441
40,455
34,255
-
99
1,662,740
1,286,283
Balance
Incoming
Investment
Balance
B/F
Resources
Expenditure
Gains/losses
Transfers
C/F
£
£
£
£
£
£
9,155
-
-
-
-
9,155
26,364
61,200
(82,958)
-
-
4,606
103,283
25,000
(20,450)
-
-
107,833
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
19,800
-
(200)
-
-
19,600
5,268
-
-
-
-
5,268
1,700
-
(450)
-
-
1,250
3,214
-
-
-
-
3,214
-
-
-
500
-
-
-
-
500
-
4,500
-
-
-
4,500
314
-
-
-
-
314
37,099
-
-
-
-
37,099
17,316
-
-
-
-
17,316
224,013
90,700
(104,058)
-
-
210,655
1,693,333
-
-
(26,667)
1,666,666
20,000
-
-
-
-
20,000
89,856
-
(21,009)
-
0
68,847
1,803,189
-
(21,009)
-
(26,667)
1,755,514
1,047,384
2,728,431
(3,237,336)
39,499
26,667
604,645
3,074,586
2,819,131
(3,362,402)
39,499
-
2,570,814

The charities funds are analysed between unrestricted, designated and restricted funds. Restricted funds are subject to specific conditions imposed by donors, while designated funds represent unrestricted funds set aside by the trustees for particular purposes. The above funds are monitored and reviewed annually, ensuring they are applied in accordance with their purpose and the charity's strategic objectives. All restricted funds are held for the purpose of the advancement and availability of psychotherapy to all ages, from child and adolescent training through to adult, in line with the charitable objectives.

30

BRITISH PSYCHOTHERAPY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE 12 MONTH PERIOD ENDING 30 SEPTEMBER 2025

Prior year:

Restricted funds

Trainee Loan Fund
Child Training
Premises Fund
Trainee Bursary Fund
Trainee Bursary Fund - 2018
Trainee Bursary Fund - 2019
Rosalie Joffe Fund
Lionel Monetith Lecture Fund
Lincoln Legacy
Eileen Curtiz
Estella Welldon Fund
Gyll Moore Fund
Teresa Hirsch Fund
HEE - Equality, Diversity & Inclusion Fund
Designated funds
Property Fund
Legal Fees Fund
CADF Fund
General reserves
Total reserves		 9,155
-
-
-
-
9,155
103,229
20,000
3,200
-
(16,746)
103,283
37,099
-
-
-
0
37,099
12,063
-
-
-
(12,063)
-
6,710
-
-
-
(6,710)
-
20,000
-
-
-
(20,000)
-
-
-
200
-
20,000
19,800
5,268
-
-
-
0
5,268
17,316
-
-
-
0
17,316
1,700
-
-
-
0
1,700
-
-
-
-
500
500
314
-
-
-
0
314
3,214
-
-
-
0
3,214
57,300
60,000
78,436
-
(12,500)
26,364
273,368
80,000
81,836
-
(47,519)
224,013
1,733,333
-
-
(40,000)
1,693,333
20,000
-
-
-
0
20,000
-
150,000
34,137
(26,007)
89,856
1,753,333
150,000
34,137
-
(66,007)
1,803,189
1,643,200
2,825,081
(3,672,074)
137,651
113,526
1,047,384
3,669,901
3,055,081
(3,788,047)
137,651
-
3,074,586

17 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Restricted Fund
Designated Fund
Unrestricted Fund
Prior year:
Restricted Fund
Designated Fund
Unrestricted Fund		 Net Current
Fixed Assets
Investments
Assets
Total
£
£
£
£
-
210,655
210,655
1,666,666
-
88,847
1,755,514
83,372
1,204,612
(711,649)
604,645
1,750,038
1,204,612
(412,146)
2,570,814
-
-
-
Net Current
Fixed Assets
Investments
Assets
Total
£
£
£
£
22,015
201,998
224,013
1,783,189
-
20,000
1,803,189
24,314
1,165,113
(142,043)
1,047,384
1,829,518
1,165,113
79,955
3,074,586

18 MEMBERS LIABILITY

The company is limited by guarantee and has no share capital. The liability of each member in the event of winding up is £5.

19 TAXATION

The company is a registered charity and no provision is considered necessary for taxation.

31

BRITISH PSYCHOTHERAPY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE 12 MONTH PERIOD ENDING 30 SEPTEMBER 2025

20 NOTES TO THE CASH FLOW STATEMENT

Reconciliation of net movement in funds to cash flow from operating activities
Net movement in Funds for the reporting period as per the Statement of Financial Acti
Adjustment for
(Gain)/Loss on investments
Depreciation charges
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by (used in) operating activities
Analysis of Cash & Cash Equivalents
Cash at bank
Total Cash & Cash Equivalents
21 Related Party Transactions
There were no related party transactions in the year.
22 Comparatives for the Statement of Financial Activities
Notes
Income and Endowments:
Donations and Legacies
2
Investment income
3
Charitable Activities
4
Membership
Training Fees
Pre-trainings including MSc Course Fees
Short Courses
Events
Publication Income
Clinical Access and Services
Other
Total Income
Expenditure:
Charitable Activities
5
Membership
Education
Training Courses
MSc Course & pre-trainings
Short Courses
Events
Publications
Clinical Access & Services
Raising Funds
6
Fundraising
Total Expenditure
Net Income/Expenditure before gains/(losses)
Net Gains/(Losses) on Investments
Net Income/Expenditure
Transfers Between Funds
Net Movement in Funds
Total Funds brought forward
Total Funds carried forward		 vities
Unrestricted
£
37,218
65,534
317,840
1,267,243
997,203
98,569
9,122
12,291
14,829
5,232		 30/09/2025
£
(503,771)
(39,499)
80,882
(340,521)
376,457
(426,451)
337,196
337,196

Designated Restricted
£
£

150,000
80,000

-
-

-
-

-
-

-
-

-
-

-
-

-
-

-
-

-
-		 30/09/2024
£
(595,315)
(137,651)
113,745
(82,514)
840,847
139,112
793,361
793,361
Total 2024
£

267,218

65,534

317,840

1,267,243

997,203

98,569

9,122

12,291

14,829

5,232
2,825,081 150,000
80,000		 3,055,081
335,096
1,962,820
1,058,355
134,127
9,934
49,222
122,520
-		 -
-

34,137
81,836

-
-

-
-

-
-

-
-

-
-

-
-		 335,096

2,078,793

1,058,355

134,127

9,934

49,222

122,520

-
3,672,074 34,137
81,836		 3,788,047
(846,993)
115,863
(1,836)
(732,966)
137,651
-
-
137,651
(709,342)
115,863
(1,836)
(595,315)
113,526
(66,007)
(47,519)
(595,816)
49,856
(49,355)
(595,315)
1,643,200
1,753,333
273,368
3,669,901
1,047,384
1,803,189
224,013
3,074,586

32