**Registered number: Charity number: 1156340**
## **PARTNERS IN MEDICAL CARE**
# **(A Charitable Incorporated Organisation)**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
**PARTNERS IN MEDICAL CARE (A Charitable Incorporated Organisation)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 4|
|**Trustees' Responsibilities Statement**|5|
|**Independent Examiner's Report**|6|
|**Statement of Financial Activities**|7|
|**Balance Sheet**|8|
|**Notes to the Financial Statements**|9 - 15|
**PARTNERS IN MEDICAL CARE (A Charitable Incorporated Organisation)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025**
|**Trustees**|Neil Brown, Trustee|
|---|---|
||Professor Chris Lavy, Trustee|
||Patrick Allen, Trustee|
||Mike Thexton, Trustee|
|**Charity registered**
**number**
1156340
**Registered office**
45 Leyborne Park
Kew
Richmond
Surrey
TW9 3HB
**Accountants**
Warrener Stewart
Chartered Accountants and Statutory Auditors
Harwood House
43 Harwood Road
London
SW6 4QP||
Page 1
**PARTNERS IN MEDICAL CARE (A Charitable Incorporated Organisation)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
The Trustees present their annual report together with the financial statements of the Partners in Medical Care for the year 1 January 2025 to 31 December 2025. The Annual Report serves the purposes of a Trustees' report under charity law. The Trustees confirm that the Annual Report and financial statements of the charitable incorporated organisation comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## **Objectives and activities**
## **a. Policies and objectives**
The original principal objects of the charity were the relief of sickness and disability and the advancement of the education of medical staff, in resource-poor areas of the world. The principal objects were amended during 2024, with permission of the Charity Commissioners, to:
To advance any purpose which is recognised as exclusively charitable under English law, and without prejudice to the foregoing, in particular, to promote sustainable development for the benefit of the public and local communities in Sub-Saharan Africa through:
- (1) The relief of poverty and improvement of the conditions of life in socially and economically disadvantaged communities;
- (2) The promotion of sustainable means of achieving economic growth and regeneration; and (3) The advancement of education of the public through training and the promotion of employment opportunities. Where ‘sustainable development’ means ‘development that meets the needs of the present without compromising the ability of future generations to meet their own needs.
Following a Trustees’ meeting in November 2024, an application was submitted to the Charity Commissioners for permission to change these objects again, in order to clarify that they cover capital projects as well as revenue matters: however, the Commissioners responded in February 2025 that the proposed amendment did not materially change the objects, and the funding of classrooms would be acceptable through the existing objects. The application was therefore cancelled, and the objects remains as set out above.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public Benefit: Running a Charity (PB2)'.
## **b. Strategies for achieving objectives**
The Charity raises funds from private individuals in order to support its activities and assesses opportunities for charitable expenditure on a case by case basis to achieve its objectives.
Page 2
**PARTNERS IN MEDICAL CARE (A Charitable Incorporated Organisation)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025**
## **Objectives and activities (continued)**
## **c. Grant-making policies**
All applications for the making of grants are reviewed and assessed on the basis of compatibility with the principal objectives.
## **Achievements and performance**
## **a. Review of activities**
In November 2025 Neil Brown visited Bulawayo to review the activities of the Thembalezizwe Trust ['TLZ'], a charity based in Bulawayo and supported by Partners in Medical Care, which is dedicated to providing access to educational and health services for the marginalised ‘squatter camp’ communities in the North Trenance District of Bulawayo. During 2025, TLZ entered into a five year partnership with Bulawayo City Council to restore Aisleby School, a primary school adjacent to North Trenance. PMC has made a long term commitment to support TLZ's contribution to this project, having received matching funding commitments from the City Council.
The range of activities at TLZ's ECD site at 1 Bulawayo Drive continues to expand, now including vocational training, perinatal support for vulnerable mums, e-learning activities and various support programmes for young adults in the community. Many of these activities are being run from ECD classrooms which cannot provide the space and facilities needed to support the expanded activities. PMC has therefore agreed to be an anchor investor in a new community centre to be located at the 1 Bulawayo Drive site. Design and preparatory works commenced during the autumn of 2025 and the community centre is scheduled to be completed in the autumn of 2026.
## **b. Fundraising activities and income generation**
In March 2025, Partners in Medical Care received a significant corporate donation from Wigwellnook Limited, which has been informally ‘ear-marked’ towards furthering the projects in North Trenance and the adjoining Aisleby Farm area. There are currently no plans to engage in external fundraising activities at this stage although this is kept under review.
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
Page 3
PARTNERS IN MEDICAL CARE
(A Charflable Inc¢)rpor*•d Oryanlsallonl
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
b. Reser¥•s pollcy
The Trustees aim lo maintain free reseN6s to cover our exF*Cted eharilablé spending for the foreseèable fvture,
givèn that we have rK) plans to raise funds extemally. While we have no18gèlly binding commitment. the trustèas
have undertaken to support Thtmbalezowe fNst and 115 work in Bulawayo thr(MJgh a range of proj8cls over the
next five yèèrg. We expect to $p8nd approximately £1m ovor thal period and have maintained suffiaenl re$eNes
and liqud assgls for this purpose. As the ¢hanty has no regul* ovorhe8d expenditure, the Iruslees are satisfied
that the rotain8d Tgserves are svffioeni for the c*wtls wrposes.
Strvctur•, govem•nc• ind managem•nt
Constitutlon
Partners in Medic81 Care is rwstered as a tharitstlè irworaled organisation Icharily n(m)ber 11 S63401 and
was sel up by a Trust Deed on 24 Mard12014.
b. Methods of ippolntment or eCtIOn ol Tnmte
Thè managemonl of the tharity is the responsi.1 of the Trusteas WIK) 8r8 011•d aThl cfyopt•d under the
term8 of the Trust deed.
Flnan¢lal rl•k man•g1m•nl
The TN$l¢•s have 8ssau•d the major n'sks to which the chty is exposed. in partilar those rglaled lo the
operations and finances of the charity. aTrJ are sats'sfied that Syslems and w¢¢edures arg in rA%e lo miligate
?XPOsure to the major nsks.
Approved by ord8r ol Ihe men*ers of tho board of Trustees aThl sign&J on Iheir behall by..
Mlke Thexton
Treasurer
Date.
Page 4
PARTNERS IN MEDFCAL CARE
IA Chartt•ble Incorpor•t•d Oryanhaiion)
STATEMENT OF TRUSTEES. RESPONS181LITIES
FOR THE YEAR ENDED 31 DECEMBER 2026
The Trustaos crf the cl)anty are reSp¥t48 for prepanThJ thè Trusta8s' Rgwt and t financial statements in
accofdants with appticat4e and Unitéd KIn10M Accourt"ThJ Standards {United Kingdom Generaly Ace8pl8d
Accounb'ng Pracb'cel.
The TNslees ¥e required lo prepare finanaal statemènt$ for each finanaal yèar. Undèr charity law, thè
Trustees musl not approve th8 finanual ststemenls usS they v*e satisfied Ihal they giv8 a tnja and fair view of
the slate ol affairs of the charity and of rts incoming resourees and applic8tson of resources. including bts Income
and expenthturo. for that penod. In ppann9 these finanaal 318temenls, th• Trustees are required lo..
gdecl suitable accouthng policies and than apF4y Ihem con&stenVy.'
cl)serve the methods and pnncipl88 of Il* Charities SORP IFRS 1021,"
make judgments and account*ng estimates that are reagonable and prudent."
sla16 whethfrr applicable UK Accounb"ng Standards IFRS 1021 have been fc41ow&a, subJ'e¢l to any material
departures disdosed and explained in tho finanad slatemenis..
prepare thg finan st8t•monls on wng rnncern basis urf•$s it is inappropri•la to presume that the
Charity will conkn.nue n trAJsiness.
The Trustees rnsponsitle for k6w.ng adewe accojnting records Ihal are suffic48nl lo 8hcAv gnd 8xplain
the charity's transactions and disdose w¢th r6a$onat4e accuracy at any lime thè finanaal position of the charity
enable them to ensur8 Ihal the financial slalements comFAy th tre Chantse5 SORP IFRS 1021. They are
also fe$ponsitAe lor s8fsguar(ling 3$sgls ol charity and hor ft)r takirKJ reasonable steps for the
provenlion antj detection ol fraud othw irregulants'es.
Approved by ¢xder ol the members of th8 Ir of Truslèo$ syned on its behalf by..
Mlke Thexton
Treasurer
Date..
242£
Page 5
**PARTNERS IN MEDICAL CARE (A Charitable Incorporated Organisation)**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
## **Independent Examiner's Report to the Trustees of Partners in Medical Care ('the charity')**
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2025.
## **Responsibilities and Basis of Report**
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011..
Having satisfied myself that the accounts of the charity are not required to be audited under the Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent Examiner's Statement**
Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the charity as required by section 130 of the Charities Act;
2. the accounts do not accord with those records; or
3. the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
Signed: Dated: 1 July 2026 Colin Edney FCA
Page 6
**(A Charitable Incorporated Organisation)**
## **PARTNERS IN MEDICAL CARE**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2025**
|**Note**
3
4
5
6
**Income from:**
Donations and legacies
Exchange (loss)/gain
Investments
**Total income**
**Expenditure on: **Charitable
activities
Other expenditure
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2025**
**£**
**849,801**
**(78,316)**
**4,463**
**775,948**
**307,095**
**10,871**
**317,966**
**457,982**
**689,045**
**457,982**
**1,147,027**|**Total**
**funds**
**2025**
**£**
**849,801**
**(78,316)**
**4,463**
**775,948**
**307,095**
**10,871**
**317,966**
**457,982**
**689,045**
**457,982**
**1,147,027**|_Total_
_funds_
_2024_
_£_
_-_
_12,789_
_4,174_
_16,963_
_227,047_
_255_
_227,302_
_(210,339)_
_899,384_
_(210,339)_
_689,045_|
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 15 form part of these financial statements.
Page 7
PARTNERS IN MEDICAL CARE
(A Ch•rltable Incorporated Organlsatjonl
REGISTERED NUMBER".
BALANCE SHEET
AS AT 310ECEMBER 2026
2025
2024
Note
Current as••t•
Cash ai bank and in hand
1,149.127
689,045
1,149,127
689,045
Current Il•blllll•s
Creditors. amwnls falling due wrthin one
year
{2,100)
Tolal net Ass•ts
1.147.027
689,045
Charhy lund•
Unr89tridod funds
Gener81 lunds
10
1,147,027
689,045
Total unrestr18 funds
10
1,147,027
689,045
Total fund•
1,147,027
689.045
The charity wa8 0ntr'U8d to èxempts'on from audit urmler the Chwrties Act 2011..
The members have required thè ¢hanty to ckntsin an audit for tho ye¥ in quests'on.
The Trustees acknowledge th8ir r8s¢on'bIIlthes fcy eomptyir¥J wth the requirements of tho Act with respecl to
8ccounth.ng records 8nd preparation of finana81 statements.
The finanoal statements have prepared in tho provisn$ apF4icaUe to enlitie¥ subject to
Ihe Sm1 companies regim8.
The financial ¥la16ments w•r• approvwj and autholl8gd for IS by the Trustees and signoa on their bohaw by:
Mlkè Thexton
Treasurer
Date
1 2oLb
The notes on pages 9 to 15 forni part of these finan(a4 st*ements.
Page 8
**PARTNERS IN MEDICAL CARE (A Charitable Incorporated Organisation)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **1. General information**
Partners in Medical Care id a charitable incorporated organisation registered in England under the registration number 1156340. Its registered address is 45 Leyborne Park, Richmond, London, TW9 3HB.
Partners in Medical Care also uses the 'working name' Partners in Community Care.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Partners in Medical Care meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Going concern**
The Trustees consider that it is appropriate to prepare the financial statements on a going concern basis. The going concern premise is based on bank balances in sterling and in dollars at the year end totalling (in sterling equivalent) of £1,149,127, which is sufficient to service the Charity’s aims for at least the next year.
As a result of the above, the Trustees consider the going concern basis of preparation to be appropriate.
## **2.3 Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Page 9
**PARTNERS IN MEDICAL CARE (A Charitable Incorporated Organisation)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **2. Accounting policies (continued)**
## **2.4 Expenditure (continued)**
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **2.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.6 Foreign currencies**
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Statement of Financial Activities.
## **2.7 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.8 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.9 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
Page 10
**PARTNERS IN MEDICAL CARE**
**(A Charitable Incorporated Organisation)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **2. Accounting policies (continued)**
## **2.10 Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.11 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
## **3. Income from donations and legacies**
||**Unrestricted**|**Total**|_Total_|
|---|---|---|---|
||**funds**|**funds**|_funds_|
||**2025**|**2025**|_2024_|
||**£**|**£**|_£_|
|Donations|849,801|**849,801**|_-_|
All the donation income was received from the Trustees or persons connected to them.
## **4. Income from foreign exchange**
||**Unrestricted**|**Total**|_Total_|
|---|---|---|---|
||**funds**|**funds**|_funds_|
||**2025**|**2025**|_2024_|
||**£**|**£**|_£_|
|Exchange (loss)/gain|(78,316)|**(78,316)**|_12,789_|
The exchange loss has arisen because the charity holds a substantial amount of its assets in US dollars, which has depreciated against sterling during the year. The funds are held in dollars because the dollar is used in Zimbabwe where the charity's main expenditure takes place.
Page 11
**(A Charitable Incorporated Organisation)**
## **PARTNERS IN MEDICAL CARE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **5. Investment income**
||**Unrestricted**|**Total**|_Total_|
|---|---|---|---|
||**funds**|**funds**|_funds_|
||**2025**|**2025**|_2024_|
||**£**|**£**|_£_|
|Investment income - interest on deposits|4,463|**4,463**|_4,174_|
## **6. Governance Costs**
|**Unrestricted**
**funds**
**2025**
**£**
Accounting fees
2,100
Bank charges
183
Trustee travel expenses
8,588
10,871|**Total**
**funds**
**2025**
**£**
**2,100**
**183**
**8,588**
**10,871**|_Total_
_funds_
_2024_
_£_
_-_
_255_
_-_|
|---|---|---|
|||_255_|
## **7. Analysis of expenditure by activities**
|Project costs|**Activities**
**undertaken**
**directly**
**2025**
**£**
307,095
307,095|**Total**
**funds**
**2025**
**£**
**307,095**
**307,095**|_Total_
_funds_
_2024_
_£_
_227,047_|
|---|---|---|---|
||||_227,047_|
Page 12
**PARTNERS IN MEDICAL CARE**
**(A Charitable Incorporated Organisation)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **7. Analysis of expenditure by activities (continued)**
## **Analysis of direct costs**
|Grant
Direct Expenditure|**Project**
**costs**
**2025**
**£**
304,874
2,221
307,095|**Total**
**funds**
**2025**
**£**
**304,874**
**2,221**
**307,095**|_Total_
_funds_
_2024_
_£_
_190,110_
_36,937_|
|---|---|---|---|
||||_227,047_|
## **8. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2024 - £NIL)_ .
During the year ended 31 December 2025, Trustee travel expenses of £8,588 were incurred and were reimbursed to one trustee _(2024 - £NIL)_ .
## **9. Creditors: Amounts falling due within one year**
||**2025**|_2024_|
|---|---|---|
||**£**|_£_|
|Accruals and deferred income|**2,100**|_-_|
Page 13
**(A Charitable Incorporated Organisation)**
## **PARTNERS IN MEDICAL CARE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **10. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted funds**
Donation Income
Charitable activities
Investment gains
Exchange movements
Governance costs
Reserves|**Balance at 1**
**January**
**2025**
**£**
**-**
**-**
**-**
**-**
**-**
**689,045**
**689,045**|**Income**
**£**
**849,801**
**-**
**4,463**
**(78,316)**
**-**
**-**
**775,948**|**Expenditure**
**£**
**-**
**(307,278)**
**-**
**-**
**(10,688)**
**-**
**(317,966)**|**Balance at**
**31**
**December**
**2025**
**£**
**849,801**
**(307,278)**
**4,463**
**(78,316)**
**(10,688)**
**689,045**
**1,147,027**|
|---|---|---|---|---|
Page 14
PARTNERS IN MEDICAL CARE
IA Charitable Incorporated Organisation}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page15