**Charity Registration No. 1180689**
**Company Registration No. 11067952 (England and Wales)**
## **PATIENT SAFETY LEARNING**
**REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023**
## **PATIENT SAFETY LEARNING**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Professor M Baker|
|---|---|
||Dr D Cohen|
||Dr J Davidson|
||Mr J Hazan|
||Mrs J Ingram|
||Dr S Jones|
||Sir S Moss|
|**Charity number**|1180689|
|**Company number**|11067952|
|**Registered office**|China Works|
||Unit 203|
||100 Black Prince Road|
||London|
||England|
||SE1 7SJ|
|**Independent examiner**|RSM UK Tax and Accounting Limited|
||Chartered Accountants|
||25 Farringdon Street|
||London|
||United Kingdom|
||EC4A 4AB|
|**Bankers**|Barclays Bank plc|
||Barclays House|
||8 Alexandra Road|
||Wimbledon|
||London|
||SW19 7JZ|
|**Chief executive**|Helen Hughes|
## **PATIENT SAFETY LEARNING**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 APRIL 2023**
The trustees present their report and financial statements for the year ended 30 April 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2019).
## **Objectives and activities**
The charity's objects are to promote, preserve and protect the good health of the public through improvements in the safety of patient care throughout the world in particular but not exclusively by providing information and advice, carrying out research and raising awareness with service providers, policy makers and patients on learning from unsafe care and how to prevent error and harm in healthcare for improved patient safety.
During the financial year from 1 May 2022 to 30 April 2023, the charity’s activity and its resources have been focused on the following areas:
## 1. Sharing knowledge for learning and action to improve patient safety
We have continued to develop and expand the hub, our award-winning platform to share learning for patient safety. Designed by and for patient safety professionals, clinicians and patients, the hub offers a powerful combination of tools, resources, stories, ideas, case studies and good practice for anyone who wants to make care safer for patients.
We officially launched the hub on 2 October 2019. By the end of April 2023, the hub had 1,401,360 page views and 616,525 total unique visitors from over 200 different countries. At this point in time, the hub had 4,249 members from 1,392 organisations across 85 countries. We gather and monitor the impact that the hub on a continual basis. We know that patient groups and communities of interest are using it to network and campaign with greater visibility and effectiveness. Health and social care professionals use the hub to source proven good practice and apply to their own organisations. We are also seeing it being used as an informal source of research, collecting insights and perspectives from the ‘patient safety front line’ – staff, patients and families.
Since 2021, the hub has hosted and supported a growing number of informal peer support networks for people involved in patient safety, providing a forum for meeting up, discussing and sharing ideas and initiatives, and learning from others. The aim is to have private safe community spaces on the hub for patient safety managers and everyone working in patient safety to facilitate and nurture conversations between like-minded individuals. By the end of April 2023 the hub supported two voluntary communities of interest:
- Patient Safety Management Network – an innovative network for patient safety managers and everyone working in patient safety in the UK. The Network provides a weekly drop-in session with guests to talk through issues of importance, offers peer support and creates a safe space for discussion. Patient Safety Learning provides both technical and administrative support for this group and promotes and shares good practice and learning from its sessions on a private community space on the hub; where members can share information and contact each other to disseminate good practice, and
- National NatSSIPs Network – a group of healthcare professionals aiming to reduce the number of patient safety incidents related to invasive procedures. This is focusing on the implementation of NATSSIPs 2, recent mandatory guidance for all in England working to promote and deliver safe surgery. This is an essential communication mechanism, in collaboration with CPOC, this provides resources and ‘work as done’ insights to support the delivery of safer care.
## 2. Campaigns to improve patient safety
Patient Safety Learning seeks to harness the knowledge, insights, enthusiasm and commitment of health and social care organisations, professionals and patients for system-wide change and the reduction of avoidable harm. As part of this we specifically listen to and promote the voices and insights of those on the frontline (staff and patients/families) and applying these and evidenced-based research to highlight patient safety challenges, so that gaps can be identified and addressed.
- 1 -
## **PATIENT SAFETY LEARNING**
## **TRUSTEES' REPORT**
## **FOR THE YEAR ENDED 30 APRIL 2023**
Throughout the year we have highlighted emerging patient safety issues in a range of areas, including but not limited to: rejected outpatient referrals and the patient safety risks associated with this, the global impact of the Covid-19 pandemic on patient safety, implementation of recommendations from public inquiries into patient safety issues (e.g. East Kent Maternity Inquiry Report), patient safety impact of hospital bed shortages, improving hysteroscopy safety in the NHS, failures of informed consent and the impact on women’s health and ongoing concerns about speaking up and a blame culture in the NHS.
To mark World Patient Safety Day 2022, on the 17 September we shared and promoted a number of different resources focused on the theme this year, medication safety. As well as highlighting specific medication safety related issues, we highlighted how this formed part of a wide issue with persistent avoidable harm in healthcare, which results from the failure to address the complex systemic causes that underpin this.
We have also worked with the Safer Healthcare and Biosafety Network as part of a joint campaign called 'Safety for All', highlighting how poor staff safety standards and practice impact adversely on patient safety and vice versa. As part of this work we held the first ever Safety for All Conference at the Royal College of Physicians in London on the 7 December 2022.
## 3. Reducing avoidable harm through our influence
We have been undertaking activity to encourage systemic change by influencing leaders in health and social care and the development and implementation of patient safety programmes by highlighting patient safety challenges and providing an independent voice for patient safety.
This has involved regularly participating in UK Government, NHS and regulator consultations and inquiries on issues where there is a clear patient safety focus. This has included consultations on the Professional Standard’s Authority draft strategic plan for 2023-26 and the Royal College of Obstetricians and Gynaecologists Green-top Guideline No. 59 on Outpatient Hysteroscopy.
We have been highlighting with stakeholders key patient safety issues and considerations relating to prominent policy developments, including the first Patient Safety Commissioner for England, Dr Henrietta Hughes. On the 5-8 December 2022 we participated a World Health Organization Global Experts’ Consultation, ‘Implementing the Global Patient Safety Action Plan 2021-2030: Pandemic and beyond’, in Geneva, Switzerland.
## 4. Reducing avoidable harm through the adoption of Patient Safety Learning products
Patient Safety Learning believes that health and social care organisations need to have standards for patient safety. These can inform 'what good looks like' and enable organisations to self-assess against them. Standards provide a framework for prioritising and developing transformational change programmes to ensure patient safety is a core purpose.
Organisations are legally required to take ‘all reasonable and practical steps’ to improve safety. Yet, these WHOsourced figures evidence a failure in this ambition.
One of the primary reasons for such shocking statistics is that organisations don’t have standards for patient safety in the way they do for other safety issues. Those that they do have are insufficient and inconsistent. Patient Safety Learning believes that all health and social care organisations must have access to comprehensive patient safety standards that they can adopt and implement to meet their legal and moral obligations.
Based on our original research and policy document, 'A Blueprint for Action', Patient Safety Learning has developed a set of unique patient safety standards centered around seven key foundations for patient safety:
- Leadership and Governance
- Culture
- Shared Learning
- Professionalisation of Patient Safety
- Patient Engagement
- Data and Insight
- Delivery of Patient Safety Services
- 2 -
## **PATIENT SAFETY LEARNING**
## **TRUSTEES' REPORT**
## **FOR THE YEAR ENDED 30 APRIL 2023**
The Standards that we have developed in response are based on 20 years of research, as well as learning from inquiries, policy and good practice from healthcare, both in the UK and internationally.
Our Standards are practical and outcomes-focused, not a tick-box methodology. Their role can vary depending on where an organsiation is on its patient safety journey and what its ambitions are. The Standards enable organisations to self-assess their current patient safety performance, identifying both strengths and weaknesses. The outputs can form the basis for a comprehensive patient safety strategy, as well as the foundations for evidence-based improvement programmes.
In 2022/23 we have been working with Great Ormond Street Hospital to implement these Standards as part of their organisational safety improvement strategy and have been in discussions with a number of other healthcare organisations around the implementation of the Standards and their framework.
The trustees have due regard to public benefit guidance issued by the Charity Commission in deciding what
activities the charity should undertake.
## **Financial review**
During the year, the charity received a donation from a charitable trust controlled by a trustee of £343,576 (2022: £438,000). Datix Limited provided services totalling of £Nil (2022: £100,000), which has been recognised in these accounts as grant income. The charity incurred costs of £588,955 (2022: £525,878) for the year, resulting in a deficit of £102,404 (2022: £59,210 surplus). This expenditure has mainly been consisted of staff costs and consulting costs of £206,629 (2022: £192,761) and £20,181 (2022: £6,813) respectively. The employees and consultants have helped set out the strategic plan of the charity and development of ‘The Hub’. Excluded from these costs, are development costs of £Nil (2022: £6,785) which have been capitalised as costs of developing ‘The Hub’.
## **Going concern**
The financial statements have been prepared on a going concern basis. Trustees review the organisation’s risks as a standing agenda item on a regular basis, with additional reports when required between formal updates to the Board. We have a Risk Register and Risk Management Plan for this purpose which covers financial risks, strategic risks, organisational and management risks and delivery risks faced by the charity.
A trustee has formally indicated his intention to continue to provide financial support to the charity to meet its obligations as they fall due for the foreseeable future, and for a period of at least 12 months from the date of approval of these financial statements.
## **Reserves policy**
The charity's total reserves at 30 April 2023 were £183,889 (2022: £286,293), with £Nil held as restricted funds (2022: £Nil). Free reserves at the balance sheet date, excluding funds tied up in fixed assets were £73,165 (2022: £106,132).
Now that the charity has begun operating, its policy for unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.
- 3 -
## **PATIENT SAFETY LEARNING**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 APRIL 2023**
## **Fundraising**
The trustees confirm that the charity’s fundraising activity is compliant with the recognised standards of fundraising as set out in the Code of Fundraising Practice, as well as those required under Charity Law. The charity does not employ the services of any third-party professional fundraising organisations.
## **Principal risk and uncertainties**
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Plans for future developments**
In future years, the trustees will look to fulfil the charity’s objectives to help transform safety in health and social care, creating a world where patients are free from avoidable harm. In seeking to do so the key themes Patient Safety Learning’s work will centre around are as follows:
- Supporting patient safety improvement
- Reducing avoidable harm through our influence
- Reducing avoidable harm through the adoption of Patient Safety Learning products
- Becoming a self-sustaining organisation
- Developing Patient Safety Learning as a global brand and authoritative leader in its field
- Sharing knowledge for learning and action to improve patient safety
This will involve continuing to develop and grow the hub as a global repository for patient safety learning and improvement. This will also involve the development products to improve patient safety outcomes, such as patient safety standards and accreditation, and building credibility as an independent and authoritative voice for patient safety.
## **Structure, governance and management**
The charity is a company limited by guarantee, as defined by the Companies Act 2006. The Charitable Company is controlled by its governing document, its memorandum and Articles of Association, which were amended on 13 November 2018.
The trustees, who are also the directors for the purpose of company law, and who served during the year were:
|Professor M Baker||
|---|---|
|Dr D Cohen||
|Dr J Davidson|(Appointed 1 May 2022)|
|Mr J Hazan||
|Mrs J Ingram|(Appointed 1 May 2022)|
|Dr S Jones|(Appointed 1 May 2022)|
|Sir S Moss||
The members may appoint a person who is willing to act as a trustee for such term as they shall see fit, either to fill a vacancy or as an additional trustee. Induction for trustees is arranged and co-ordinated on an individual basis.
A retiring trustee may be reappointed. There shall be no limit to the number of times a trustee may be
reappointed.
The charity considers the trustees, the chief executive, director of business development and treasurer as their key management personnel. Salaries for staff are set by the trustees, taking into account individual performance, proportionality with salaries across the organisation, market data and the charity's ability to pay.
The trustees have control of the charity and its property and funds. They may regulate their proceedings as they
think fit.
None of the trustees have any beneficial interest in the charity. All of the trustees are members of the charity and guarantee to contribute £1 in the event of a winding up.
- 4 -
## **PATIENT SAFETY LEARNING**
## **TRUSTEES' REPORT**
## **FOR THE YEAR ENDED 30 APRIL 2023**
## **Related parties**
The charity was connected to The Hazan Macallister Charitable Trust through Mr Hazan's trusteeship. This Trust closed in June 2022. Details on transactions with this Trust can be found in note 14.
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption.
The trustees' report was approved by the Board of Trustees.
..............................
**Mr J Hazan** Trustee 25/01/24 Dated: .........................
- 5 -
## **PATIENT SAFETY LEARNING**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PATIENT SAFETY LEARNING**
I report on the financial statements of the charity for the year ended 30 April 2023, which are set out on pages 7 to 17.
## **Respective responsibilities of trustees and examiner**
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as 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.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair view’ and my report is limited to those specific matters set out in the independent examiner’s statement.
## **Independent examiner's statement**
Since the company’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 material matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:
1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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: Accounting and Reporting by Charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and 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.
Signed: Name: Nicholas Sladden, FCA DChA BFP The Institute of Chartered Accountants in England and Wales
On behalf of RSM UK Tax and Accounting Limited Chartered Accountants 25 Farringdon Street London EC4A 4AB United Kingdom
Dated: .........................25/01/24
- 6 -
## **PATIENT SAFETY LEARNING**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 APRIL 2023**
|||**Unrestricted funds**|**Unrestricted funds**|
|---|---|---|---|
|||**2023**|**2022**|
||**Notes**|**£**|**£**|
|**Income from:**||||
|Donations|**2**|395,701|545,088|
|Charitable activities|**3**|90,850|40,000|
|**Total income**||486,551|585,088|
|**Expenditure on:**||||
|Charitable activities|**4**|588,955|525,878|
|**Net (expenditure)/income**||(102,404)|59,210|
|Total funds brought forward||286,293|227,083|
|**Total funds carried forward**||183,889|286,293|
- 7 -
**Company Registration No. 11067952**
## **PATIENT SAFETY LEARNING**
## **BALANCE SHEET**
## **AS AT 30 APRIL 2023**
|**Notes**
**Fixed assets**
Intangible assets
**8**
Tangible assets
**9**
Investments
**10**
**Current assets**
Debtors
**11**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**12**
Net current assets
**Total assets less current liabilities**
**Funds**
Unrestricted funds|**2023**
**£**
64,370
65,853
130,223
(57,058)|**£**
107,191
3,532
1
110,724
73,165
183,889
183,889
183,889|**2022**
**£**
24,187
142,295
166,482
(60,350)|**£**
177,184
2,976
1|
|---|---|---|---|---|
|||||180,161
106,132|
|||||286,293|
|||||286,293|
|||||286,293|
For the year ended 30 April 2023, the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 (the Act) relating to small companies.
The trustees’ and directors’ responsibilities:
- The members have not required the charitable company to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Act; and
- The trustees and directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
## 25/01/24
The financial statements were approved by the Trustees on .........................
..............................
Mr J Hazan
## **Trustee**
- 8 -
## **PATIENT SAFETY LEARNING**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 APRIL 2023**
|**Notes**
**Cash flows from operating activities**
Cash (used in)/generated from operations
**13**
**Investing activities**
Purchase of intangible assets
Purchase of tangible fixed assets
**Net cash used in investing activities**
**Net (decrease)/increase in cash and cash**
**equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2023**
**£**
-
(1,875)|**£**
(74,567)
(1,875)
(76,442)
142,295
65,853|**2022**
**£**
(6,785)
(1,016)|**£**
133,758
(7,801)
125,957
16,338
142,295|
|---|---|---|---|---|
- 9 -
## **PATIENT SAFETY LEARNING**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023**
## **1 Accounting policies**
## **Charity information**
Patient Safety Learning is a private company limited by guarantee incorporated in England and Wales. The registered office is China Works, Unit 203, 100 Black Prince Road, London, SE1 7SJ, England.
## **Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in Sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **Going concern**
The financial statements have been prepared on a going concern basis. Trustees review the organisation’s risks as a standing agenda item on a regular basis, with additional reports when required between formal updates to the Board. The trustees have a Risk Register and Risk Management Plan for this purpose which covers financial risks, strategic risks, organisational and management risks and delivery risks faced by the charity.
A trustee has formally indicated his intention to continue to provide financial support to the charity to meet its obligations as they fall due for the foreseeable future, and for a period of at least 12 months from the date of approval of these financial statements.
## **Consolidation**
The Trust is exempt from the requirements to prepare group accounts by virtue of section 402 of the Companies Act 2006. These financial statements therefore present information about the company as an individual undertaking and not about its group. Charities SORP allows a subsidiary to be excluded from consolidation if its results are not material to the group. In the opinion of the Trustees the turnover and net assets of Patient Safety Learning Trading Limited are not material in the context of these accounts and therefore consolidated accounts have not been prepared. Details of this subsidiary are given in note 10.
## **Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
## **Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
- 10 -
## **PATIENT SAFETY LEARNING**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2023**
## **1 Accounting policies (Continued)**
Income from charitable activities is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course of business.
## **Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
## **Intangible fixed assets other than goodwill**
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
The software represents the development costs of the hub. Amortisation has been charged on a 5 years straight line basis.
## **Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses. In the year of acquisition a full year's charge is incurred.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings and equipment 15% straight line Computers 33% straight line
## **Fixed asset investments**
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
## **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).
## **Cash and cash equivalents**
Cash and cash equivalents include cash in hand.
## **Financial instruments**
The charity has applied the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity 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.
- 11 -
## **PATIENT SAFETY LEARNING**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2023**
## **1 Accounting policies (Continued)**
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **2 Donations and legacies**
|Donations and gifts
Grant income
Sponsorship|**Unrestricted**
**2023**
**2022**
**£**
**£**
345,701
439,088
40,000
100,000
10,000
6,000
395,701
545,088|**Unrestricted**
**2023**
**2022**
**£**
**£**
345,701
439,088
40,000
100,000
10,000
6,000
395,701
545,088|
|---|---|---|
|||545,088|
## **3 Charitable activities**
|Conference income
Other income|**2023**
**£**
60,850
30,000
90,850|**2022**
**£**
22,000
18,000|
|---|---|---|
|||40,000|
- 12 -
## **PATIENT SAFETY LEARNING**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2023**
## **4 Charitable activities**
|**Learning and development:**
Staff costs
Amortisation|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
10,430
9,850
1,319
-
104
-
11,939
-
167,862
-
9,707
-
2,200
-
25,992
-
856
-
39,148
-
-
-
-
9,897
-
2,200
269,557
21,947|**Unrestricted**
**2023**
**2022**
**£**
**£**
206,629
192,761
69,993
69,094
20,181
6,813
648
146
297,451
268,814
269,557
233,058
21,947
24,006
588,955
525,878
**2023**
**2022**
**£**
**£**
20,280
20,271
1,319
1,151
104
101
11,939
5,776
167,862
144,184
9,707
318
2,200
150
25,992
23,919
856
265
39,148
46,737
-
2,310
9,897
9,362
2,200
2,520
291,504
257,064|**Unrestricted**
**2023**
**2022**
**£**
**£**
206,629
192,761
69,993
69,094
20,181
6,813
648
146
297,451
268,814
269,557
233,058
21,947
24,006
588,955
525,878
**2023**
**2022**
**£**
**£**
20,280
20,271
1,319
1,151
104
101
11,939
5,776
167,862
144,184
9,707
318
2,200
150
25,992
23,919
856
265
39,148
46,737
-
2,310
9,897
9,362
2,200
2,520
291,504
257,064|
|---|---|---|---|
|Consulting costs||||
|Hotel costs||||
|Share of support costs (see note 5)
Share of governance costs (see note 5)
**Support and governance costs**
Staff costs
Depreciation
Bank fees
General costs
IT costs
Printing and postage
Recruitment and training
Rent, rates and insurance
Travel and subsistence
Marketing costs
Legal and professional
Amounts paid to RSM
UK Tax and Accounting
Limited:
Accountancy fees
Independent examiner fees||||
||||268,814
233,058
24,006|
||||525,878|
||||**2022**
**£**
20,271
1,151
101
5,776
144,184
318
150
23,919
265
46,737
2,310
9,362
2,520|
||||257,064|
## **5 Support and governance costs**
All support and governance costs are attributable to charitable activities.
- 13 -
## **PATIENT SAFETY LEARNING**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2023**
## **6 Employees**
## **Number of employees**
The average monthly number employees during the year was:
|Employees
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2023**
**Number**
6
**2023**
**£**
200,734
19,786
6,389
226,909|**2022**
**Number**
6|
|---|---|---|
|||**2022**
**£**
191,948
14,833
6,251|
|||213,032|
## **Remuneration of key management personnel**
The charity considers the key management personnel to be the Board of Trustees, the chief executive, director of business development and treasurer. The total employment benefits (including employer's national insurance contributions and employer pension contributions) of key management personnel was £108,929 (2022: £108,593).
The number of employees whose annual remuneration was £60,000 or more were:
|||**2023**|**2022**|
|---|---|---|---|
|||**Number**|**Number**|
|£80,001|- £90,000|1|1|
## **7 Trustees**
No trustees received remuneration during the period. No trustees (2022: none) received any reimbursements of expenditure during the year.
- 14 -
## **PATIENT SAFETY LEARNING**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 30 APRIL 2023**
## **8 Intangible fixed assets**
|**Intangible fixed assets**||
|---|---|
||**Website development**|
||**£**|
|**Cost**||
|At 1 May 2022 and 30 April 2023|349,966|
|**Amortisation and impairment**||
|At 1 May 2022|172,782|
|Amortisation charged for the year|69,993|
|At 30 April 2023|242,775|
|**Carrying amount**||
|At 30 April 2023|107,191|
|At 30 April 2022|177,184|
## **9 Tangible fixed assets**
|**Fixtures,**
**fittings and**
**equipment**
**Computers**
**£**
**£**
**Cost**
At 1 May 2022
2,840
5,515
Additions
-
1,875
Disposals
-
(4,147)
At 30 April 2023
2,840
3,243
**Depreciation**
At 1 May 2022
1,136
4,243
Depreciation charged in the year
426
893
Eliminated in respect of disposals
-
(4,147)
At 30 April 2023
1,562
989
**Carrying amount**
At 30 April 2023
1,278
2,254
At 30 April 2022
1,704
1,272|**Total**
**£**
8,355
1,875
(4,147)|
|---|---|
||6,083|
||5,379
1,319
(4,147)|
||2,551|
||3,532|
||2,976|
- 15 -
## **PATIENT SAFETY LEARNING**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2023**
## **10 Fixed asset investments**
||**Other**|
|---|---|
||**investments**|
||**£**|
|**Cost or valuation**||
|At 1 May 2022 & 30 April 2023|1|
|**Carrying amount**||
|At 30 April 2023|1|
|At 30 April 2022|1|
The charity holds 1 share of £1 in its wholly owned trading subsidiary company Patient Safety Learning Trading Limited. The registered office of Patient Safety Learning Trading Limited is China Works Unit 203, 100 Black Prince Road, London, England, SE1 7SJ. The activities will comprise running the commercial operations of the charity once the charitable activity has started. The results are not consolidated per the accounting policies.
## **11 Debtors**
|**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income|**2023**
**£**
47,127
5,834
11,409
64,370|**2022**
**£**
9,000
5,141
10,046|
|---|---|---|
|||24,187|
## **12 Creditors: amounts falling due within one year**
|Trade creditors
Other taxation and social security
Other creditors
Accruals|**2023**
**£**
29,901
6,100
1,122
19,935
57,058|**2022**
**£**
19,382
5,946
1,022
34,000|
|---|---|---|
|||60,350|
- 16 -
## **PATIENT SAFETY LEARNING**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2023**
|**13**
**Cash generated from operations**
**2023**
**£**
(Deficit)/surpus for the year
(102,404)
Adjustments for:
Amortisation and impairment of intangible assets
69,993
Depreciation of tangible fixed assets
1,319
Movements in working capital:
Increase in debtors
(40,183)
(Decrease)/increase in creditors
(3,292)
**Cash generated from operations**
(74,567)|**2022**
**£**
59,210
69,094
1,151
(6,211)
10,514
133,758|
|---|---|
## **14 Related party transactions**
## **Transactions with related parties**
During the year the charity received an unrestricted donation of £3,576 (2022: £438,000) from The Hazan MacAllister Charitable Trust which is controlled by Mr J Hazan.
During the year the charity received an unrestricted donation of £340,000 (2022: £nil) from Mr J Hazan, a trustee.
- 17 -