CENTRE FOR HEALTH AND THE PUBUC INTEREST (CHPI) (A company limited by guarantee) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31ST MARCH 2025 (not subject to statutory audit) Company Reglstratlon No. 8047440 (England & Wales) Charity Commlssion Registered Charity No. 1157077 AE121VF7 2411212025 COMPANIES HOUSE A55
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CENTRE FOR HEALTH AND THE PUBLIC INTEREST (CHPD (A ¢ompany limit¢d by guarant¢¢) Company No. 8047440 Charity No. 1157077 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31ST MARCH 2025 (not subject to statutory audit) CONTENTS Legal and Administrative Information Trustees Re ort Inde endent Examiner's Re ort statement of Financial Activities Balance Sheet Notes to the Flnancial Statements 10 11
CENTRE FOR HEALTH AND THE PUBLIC INTEREST (CHPI) (A company limit¢d by guarante¢) Company No. 8047440 Charity No. 1157077 LEGAL AND ADMINISTRATIVE INFORMATION other Names Used: CHPI, The Centre status: CHPI is a charitable company limited by guarantee, Incorporated on 26" April 2012. On 16° May 2014 CHPI was entered onto the Charity Commlssion Register of Charities. Registered Offlce: Pelican House, 144 Cambridge Heath Road. London, E1 SQJ, UK Bankers: Unity Trust Bank PIC Nine Brindley Place, Birmingham 81 2HB Trustee8 (also Company Directors): Trustees who have acted during Ihe period of thls report were: Dr Jonathon Tomllnson (Chalr) Prof Colin Ley8 (resigned April 2026) Dr Guddl Singh (reslgned April 2025) Ms Sue Charteris Ms Lois Rogers Prof Davld Evans Ms Emma Watkin3 (resigned August 2025) Executlve Dlrector: The day.to4lay.management of CHPI is delegated to the Executive Director: Mr David Rowland Independent Examiner: Edward Tombs
CENTRE FOR HEALTH AND THE PUBLIC INTEREST (CHPD (A company limited by guarant¢¢) Company No. 8047440 Charity No. l 157077 TRUSTEES REPORT FOR THE YEAR ENDING 31ST MARCH 2025 The Trustee8 present thelr report and financial statements for the year ending 31# March 2025. Structure Governance and Management CHPI is constituted as a company limited by guarantee and 18 govemed by a Memorandum and Article6 of Association. In the event of the company being wound up, all Trustees have guaranteed to contribute to the assets of the company as may be required to an amount not exceeding £10. The Trustee8 have no beneficial interest in the company nor its activitie8 and are not remunerated. New Trustees are appointed by way ol a decision by the existing Trustees. Objectives and Actlvitles Objects The objects of CHPI as set out in the company articles of assoclation are". to advance the education of the publlc In health and social care policie8 to promote informed debate and research for the public benefrt in all aspects of that subject and to publish the useful results Principal Activlties. Achievements and Perfonnance During the year CHPI contlnued its work as an independent health policy think tank, carrying out research and analy616 into health and social care In the UK with a particular focus on the impact of privatisation, the role of private equlty, confllct6 of interest and the development of a two tier healthcare system. The alm of th16 work Is to inform public debate and policy and to help ensure that decisions affecting health and care are taken In the public interest. Over the past year CHPI has made the publlc, the medla and pollcy makers aware of a number of public interest issues. In the early part of the year CHPI worked with a national newspaper to investigate the growing involvement of private equity backed companies in NHS funded Sexual Assault Referral Centres. These centres provlde essential support for victims of rape and sexual assault, including children. CHPI'S analysis showed that private equity owned finns now run a substantial proportlon of these seNices and that significant dividends have been paid to Investors from income that is largely funded by the taxpayer. This raised serious questions about the approprlateness of profit making in such sensitlve servlces and helped to prompt further public and parliamentary scrutiny.
CENTRE FOR HEALTH AND THE PUBLIC wfEREST (CHPD (A Company limited by guar8nts¢) Company No. 8047440 Charity No. 1157077 CHPI also continued its progrdmme of work on the outsourcing of NHS funded eye care to private companies. Earlier research, which vras covered by BBC Newsnight and the national press, had shown a rapid shift of catsract work from NHS hospitals to for profit provlders and had highlighted the impact of thls change on NHS eye departments, Including the loss of staff and income and the knock on effects for patients wlth more complex condltion8 and for the training of future specialists. During the year CHPI developed further analysls on outsourced cataract care. In the final quarter of the year the organisatlon was working on a thlrd, more detailed report in its cataract serSes, which wrds published shortly after the year end. This report examined in depth the profits being generated from NHS funded cataract surgery and the confllcts of interest arlslng from financial link8 between Some NHS consultants and private cataract providers, using contract data and company account8 to show the Scale of profft extractlon from this area ol care. CHPI al80 contlnued It8 long standlng work on patient safety risks In the prlvate hospital sector. During the year this work was featured on a national CUfTent affairs television programme, which drew on CHPI'S evidence about systemic shortcoming6 In the way care Is dellvered In prlvate hospitals. In particular, the programme highlighted concems about inadequate arrangements for post operntlve care and the reliance on Junior doctor8 working long hours wtth limited supervision. CHPI and others have linked these issues to avoidable patient hami. The renewed coverage helped to maintain pressure for reform8 at a tlme when proposals to make 9reater use of private hospitals for NHS patients were again under discussion. The organisation's work on the care home sector was brought to a wider audience through partlclpation In a European documentary examlnlng the cr1818 in care homes for older people. CHPI contributed evidence on the Impact of profit extrBctlon and complex financial structures on the stability and quality of care homes in the UK. This helped to show that the problems identified by.CHPI are part of a wider pattern across Europe arKI underlined the need for more sustainable models of care for older people. Alongslde these maln areas of work, CHPI contlnued to contrlbute to the UK Covid 19 Public Inquiry and was granted "core participanf, status by the Inquiry as part of a collaboration with a number of other public interest organisations During the year CHPI submitted evidence on the use of the private hospital sector during the pandemic, drawing on contracts, activty data and company accounts to assess how the arrangements operated. The analysis suggested that the contracts did not make full use of available capacity for NHS patients and that financial Incentlves allowed private providers to continue or expand fee paying work, rather than focusing solely on supporting the NHS. CHPI'S contribution added an independent perspective on the use of public funds, but
CERE FOR HEALTH AND THE PUBLIC INTEREST (CHPD (A company limited by guarantee) Company No. 8047440 Charity No. 1157077 this work formed one part of a wider programme rather than the main locus of the year. Acros8 its activities CHPI continued to highlight the risk of a two tier healthcare system, in which those who can afford to pay privately have increasingly different options from those who cannot. Its analysis drew attention to rlsing levels of self funded Social care, a decllne in the proportion of fertility treatment funded by the NHS, and growlng numbers of people paying for operations from thelr own resources. The eye care worf( in particular showed how Outsourcing can leave the NHS with fewer staff and resource$ to care for more complex cases, reinforcing these trends over time. Engagement with the public and wlth profe88lona18 remained an Important part of CHPI'S work durlng the year. CHPI organised public events In Manchester and Birmingham to dlscuss the gr0h of for proflt healthcare and the r18ks ol a two tler 8yStem. These events brought together academics, healthcare professlonal8, campaigners and members of the public and were attended by over two hundred people in total. They provided a space for informed discussion and helped to broaden the organlsatlon's network of 8UPPOrters and collaborators. CHPI'S research and commentary continued to receive coverage in the national medla, Includlng television, radlo and the press. Staff and Trustees were regularly invited to brief parliamentarlans, professional bodies and other 8takeholders on issues such as outsourcing, private equity in health and care, patient safety and the fvture of publicly funded seNices. Future plans and activlties In the coming year CHPI plans to bulld on this work by continuing to examine the impact of outsourcing and private finance on NHS and social care servlce8, purBuing further research into the role of private equity and other investors in sensitive areas of health and care, malntaining it8 focus on patient safety in the private hospital sector and on conflicts of interest in clinical decision making, expanding it8 programme of publlc events and outreach acro86 the UK, and contributing evidence and analysls to formal Inquiries and pollcy processes where its expertise is relevant.
CENTRE FOR HEALTH AND THE PUBLIC INfEREST (CHP (A company limited by guarante¢) Company No. 8047440 Charity No. 1157077 FINANCIAL REVIEW Income Voluntary Income 01 £44,927 represents unrestricted donations from indlviduals through the year, a small decrease from the previous years, total of £57,682. Gift Ald Income of £4,818 was the total amount claimable from HMRC for donations in the period from donors who have provided CHPI with a Gift Aid Declaratlon, down from the prevlous year's total of £6,726. Income from charitable actlvlties of £99,684 Includes grant Income recelved towards two grant-funded research projects. This represents a significant Increase from the prevlou6 years, total of £51,8CQ in income from grants and contracts. Expendltu re Expenditure was primarily made up of stsffing c08t8 for the Centre'8 Executlve Director and Fundrnising Coordinalor. Reserves The Trustees recognise the need to hold reserve8 to protect the financlal securty of CHPI in the event ol Income shortfalls. A Re8erves Pollcy adopted In August 20218et8 Qut the Intentlon to maintaln a minimum 013 months expenditure in reserve, and allocate additlonal funds avallable to furtherlng CHPI'8 charitable work, or Investlng In future Income generation. At 31° March 2025 the general reserve held £99,733, an Increase of £23,907 from 31st March 2024. This reserve represents just under 11 months of operating expenditure, above the minimum 3 months. As such Trustees wlll consider the posslbility of running a managed budget deficit over the course of the coming year. The report has been prepared in accordance wlth the speclal provlsions of Part 15 of the Companies Act 2006 relating to small companles. Approved by the board of Trustees on 1 Oth December and slgned on Its behalf by: Jonathon Tomlinson Chair
CENTRE FOR HEALTH AND THE PUBLIC INfEREST (CHPD (A company limitd by guarantcc) Company No. 8047440 Charity No. 1137077 Independent Examiner's report to the Trustees I report on the accounts for the year 31 March 2025. Respectlve responsibilities of Trustees and examiner The Charity's Trustees (who are also the Directors for the purpose of company law) are responsible for the preparation of the accounts. The charity's trustees . consider that an audit is not required for this period (under Section 144 (2) of the Charltles Act 2011 (the 2011 Act)) and that an Independent examination 18 requlred. l am quallfied to undertake the examination. Havlng satlsfled myself that the charity Is not sublect to audlt under company law and is eligible for independent examination, it is my responsibility to: examine the accounts under Section 145 of the 2011 Act to follow the procedures laid down in the General Dlrectlons glven by the Charity Commlssion (under Section 145(5) of the 2011 Act); and to state whether partlcular matters have come to my attention. Basls of the Independent examiner's report My examination was carried out In accordance with the General Directlons given by the Charlty Commission. An examination includes a review of the accounting records kept by the charity and a comparlson of the accounts presented with those records. It also includes consideration of any unusual items or disclosures In the accounts, and seeking explanations from you as trustees concernlng any such matter8. The procedures undertaken do not provide all the evidence that would b.e required In an audit, and consequently no opinion 18 given as to whether the a¢unt6 present a 'true and falr vlew, and the report Is Ilmlted to those matters set out in the statements below. Independent examlner's statement In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that, in any material respect, the requirements to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and to prepare accounts which accord with accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and princlples of the Statement of Recommended Practice: Accounting and Reporting by Charities Have not been met; or (2) to which, in my opinion, attentlon should be drawn In order to enable a proper understanding of the accounts to be reached. Edward Tombs CIMA.. Certificate of busirnss accountlng 1 Williams Terrace, Bethesda Gwynedd, LL57 3NH . DATE.. 17-12-2025
CENTRE FOR HEALTH AND THE PUBLIC INfEREST (CHPD (A company limited by guarantee) Company No. 8047440 Charity No. 1157077 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR TO 31ST MARCH 2025 . (not subject to statutory audit) Restricted U nrestrlctèd Funds Funds Tolal 2025 Total 2024 Note Incomlng Resources Voluntary Income 44,927 44,927 57,682 Income from charitable activities 99,684 99,684 51,800 Gift Ald 4,818 4,818 6,726 Other Income 70 Total Incomlng Resources Resources Expended Fundraising -5,276 -5,276 -42,599 Charltable activities 46,243 -15,560 -101,804 -78,924 Governance -5,001 -5,001 -11,938 Total Resources Expended Net Incoming Resources 13 37 28 .171 .Transfers Net movement in funds The ststement of financial activities includes all gains and108ses in the year. All incoming resourc'es and resources expended derive from continuing activitie8.
CERE FOR HEALTH AND THE PUBLIC INtEREST (CHP (A oompany limited by guarant¢¢) Company No. 8047440 Charity No. 1157077 BALANCE SHEET AS AT 31" MARCH 2025 (not subject to statutory audlt) 31 Mar 2025 31 Mar 2024 Notes Current Assets Cash at bank and in hand Accrued Gift Aid Recoverable Total Cu rrent Assets 111,974 3,969 115,943 75,638 2,805 78.443 Creditors Amounts falllng due wlthin one year 2,769 2,617 Net Current A88els 113,174 76,826 The funds of the charlty Restricted Funds Deslgnated Funds General Funds Total Charlty Funds 13,441 10 99,733 113,174 75,826 75,826 For the year ending 3110312025 the company was entitled to exemption from audit under section 477 of the Companie8 Act 2006 relating to small companies. Trustees, responsibllities.. the member6 have not required the company to obtaln an audlt of its accounts for the year in question in accordance with section 476, the Trustees acknowledge their responsibilities for complylng with the requirement6 of the Act with respect to accounting records and the preparation of accounts, these accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. Approved by the board of Trustees on 1 Oth December and Signed on its behalf by: Jonathon Tomlinson Chair 10
CENTRE FOR HEALTH AND THE PUBLIC INTEREST (CHPD (A Company limited by guarantee) Company No. 8047440 Charity No. 1157077 NOTES TO tHE FINANCIAL STATEMENTS FOR THE YEAR TO 31ST MARCH 2026 (not subject to Statutory audit) 1. Accounting Policles (a) Basls of Accounting The financial statements have been prepared under the historical cost convention In accordance wlth the Companies Act 2006 and the Statement of Recommended Practice: Accounting arKI Reporting by Charities issued in April 2013. (b) Fund Accountfjng Unrestricted funds are avallable for the use at the d18cretlon of the Tru8tee8 in the furtherance of the company's charitable objectives. Designated fund8 are unrestricte(4 fund8 earmarked by Tru8tee8 for a particular purpose. Re8trlcted funds are subjected to restrlctions on their expenditure imposed by the donor. (e) Incomlng resource All incoming resources are included In the statement of financlal actlvlties when CHPI is entitled to, and vlrtually. certain to receive, the income and the amount can be quantiried with rea80nable accuracy. (d) Re8ource8 Expended Expenditure Is recogni8ed on an accrual basis as a Ilabllity is Incurred. Expenditure includes any VAT which cannol be recovered, and is reported as part of the expendlture to which it relates: Costs of generating funds comprise c06ts a86ociated wlth attracting voluntary and contract income. Charitable expenditure comprlses those costs Incurred In the delivery of CHPI'S charitable object6. It includes both costs that can be allocated directly to such activitie8 and co8t8 of an Indirect nature necessary to support them. Governance costs include costs associated with meeting the constitutional and statutory requirements of CHPI. 11
CENTRE FOR HEALTH AND THE PUBLIC INTEREST (CHPI) (A company limit¢d by guarante¢) Company No. 8047440 Charity No. 1157077 2. Voluntary Income Unrestf icted 2025 Restricted 2025 Total 2025 Total 2024 Tinsley Charitable Trust 25,000 25,000 25,000 Charles Clarke 4,458 Other Individual Donations < £2.5k 19,927 19,927 28,244 44,927 44,927 67,682 In the interests of transparency, CHPI ha8 adopted a pollcy of Individually identifying all donations over £2,500 durlng the course of the year. 3. Income from Gharitable Actlvltles U nrestricted Restricted 2025 2025 Total 2025 Total 2024 Joseph Rowntroa Charltabl• Trust 64,684 64,684 41,800 Frlends Provldent Foundation 35,000 35,000 Amiel & Melbum TNst 5,000 Scurrah Wainwright Charitable Trust 5,000 99,684 99.684 61,800 12
CENTRE FOR HEALTH AND THE PUBLIC IwfEREST (CHPD (A company limited by guarantee) Company No. 8047440 Charity No. 1157077 4. Resources Expended Allocation by fund Direct expendlture rtems are allocated by fund according to the purpose of the expense. Staffing & overhead costs are re-allocated to the restricted lund8 according to agreed project budgets. Expenditure Total JRCT . After the pandemic Frlend8 Provident Mapping profit extraction General funds Direct expenses 14716 3,905 3,947 6,864 Staffing Overheads 90,219 48,994 29,397 10,653 8,321 5,476 Total expendi1re allocation 112,081 62,899 33,344 26,838 Allocation of expenditure to fundraising, charltable activities and governance Direct expenditure items are allocated to expendilure categorles for fundralslng, charitable activitie8 and governance according to the nature of the expense. staffing & overhead eo8t8 a re-allocated to the8e categories on the bas18 of estimated proportion of staff time spent on each activity: 50h fundraising, 900A charitable actlvities, and 50A govemance. Expenditure Total Fundraising Charitable Activities Governance Direct expenses 14,716 14,176 133 Staffing 90,219 4,452 (5%) 80,139 (90%) 4,452 (5%) Overheads 6,866 416 (5%) 7,489 {90%) 418 (5%) Total expenditure allocation 111.802 29,534 72,427 9,842 13
CENfRE FOR HEALTH AND THE PUBLIC TrEREST (CHP (A MpanY limit¢d by guarantee) Company No. 8047440 Charity No. 1157077 5. Trustee Remuneratlon. Expenses & Related Party Transactions No Trustees received any remuneration for their services. £102.50 in expenses was reimbursed to Trustees for food or travel costs during the period (2024: £0). No Trustee or other person related to the charity had any personal interest In any contract or transaction entered into by the charity during the year. 6. Taxation No tax charges have arl8en In CHPI, The vast majority of income18 from grants, donations or contracts for public interest research and is applied for charitable purposes. 7. Gift A5d Recoverable An estimated £3,969 of accrued Gift Aid was claimable on received donatlons at 31st March 2025. 8. Creditors: amounts falllng due within one year £2,769 was owed across a number of unpaid invoice8, expense claims and PAYE Ilabllities at 31st March 2025. All amounts owed have now been pald. 9. Purpose of Restricted Fund There were two restricted lund8 In the year: JRCT Funds recelved from Joseph Rowntree Charltable Trust for a 24-month project titled After the pandemlc.. The long term Impact of COVID 19 on the provlslon of healthcare free a¢ the polnt of need. Frlends Provident Funds received from the Friends Provident Foundation for a project titled Mapping profit extraction from state funded health services In England. Expenditure for each project was assigned to the fund in accordance with the agRed project budget - including allocations for tstaff time. 10. Purpose of Designated Funds There were no deslgnated funds in the year. 11. Staff Costs and Numbers The Centre employed a full time Executive Dlrector and part-time Fundraising Co-ordinator throug1Ut the year. 14
CENfRE FOR HEALTH AND THE PUBLIC INfEREST (CHPD (A Company limited by guarant¢¢) Company No. 8047440 Charity No. 1157077 12. Funds of the charity 8alance at 31 March 2024 Total Income FY 2026 Total expendlture FY 2026 Balance at 31 March 2025 Restricted funds JRCT- Aft8rth• pandemlc: The long term impact of COVID 19 on the provlsion of healthcare free at the point of need Friends Provident- Mapping profrt extraction from state lunded heatth services In England Total restricted fund8 64,684 52, 11,785 35,0 33,344 1,656 86,243 13.441 Designated funds Unrestricted funds 75,826 49,745 25,838 99,733 Total fundg 75,826 149,429 112,081 113,174 13