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2025-01-31-accounts

Charity registration number 1185650 (England and Wales)

Company registration number 11761835

PATIENT SAFETY WATCH

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

PATIENT SAFETY WATCH

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr J R Titcombe OBE Mr D Grunberg FCA Dr M Durkin OBE Rt Hon Sir J Hunt Charity number (England and Wales) 1185650 Company number 11761835 Registered office 5 Technology Park Colindeep Lane London United Kingdom NW9 6BX

(Appointed 6 November 2024)

PATIENT SAFETY WATCH

CONTENTS

Page
Trustees' report 1 - 6
Independent examiner's report 7
Statement of financial activities 8
Statement of financial position 9
Notes to the financial statements 10 - 14

PATIENT SAFETY WATCH

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 JANUARY 2025

The Trustees, who are also directors of the Charity for the purposes of the Companies Act 2006, present their annual report together with the financial statements for the year ended 31 January 2025.

The Trustees have adopted the provisions of Accounting and Reporting by Charities: 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 (FRS 102) (effective 1 January 2019).

Aims and Objectives

The objectives of the Charity remain unchanged from previous years: to promote, preserve, and protect the health of the public by carrying out research, making the results publicly available, and providing information and advice on safety and standards in patient care to policymakers, service providers, and patients. Our work focuses particularly on preventing error and harm in healthcare.

Governance and leadership

In November 2024, Rt Hon Sir J Hunt was re-appointed as Trustee and Chair of Patient Safety Watch. As the longest-serving Secretary of State for Health and Social Care in England, Rt Hon Sir J Hunt brings unparalleled experience and credibility in patient safety leadership, further strengthening the Charity’s voice and influence. Rt Hon Sir J Hunt is the founder and former Chair of Patient Safety Watch and rejoined the Board following his tenure as Chancellor (October 2022 – July 2024).

Governance and leadership arrangements otherwise remained consistent with those set out in our report for the year ended January 2024. Mr J R Titcombe OBE continues to serve as Chief Executive. This streamlined model has proven effective, providing strong leadership and oversight while ensuring operational efficiency and minimal overheads. This allows the maximum proportion of the Charity’s income to be directed toward research and engagement activities.

PATIENT SAFETY WATCH

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2025

Achievements and performance

Significant activities and achievements against objectives

Research Programme

Following the success of our Global State of Patient Safety 2023 report, Patient Safety Watch commissioned and launched its most ambitious project to date – the National State of Patient Safety (NSPS) 2024, produced in partnership with the Institute of Global Health Innovation at Imperial College London.

The NSPS 2024 report provides a comprehensive overview of patient safety in England, analysing national performance data, NHS Trusts’ incident response plans, and survey feedback from both staff and the public.

Key Findings

The report concludes that England’s patient safety system is under significant strain, with too many competing priorities and insufficient coordination. It calls for national bodies to agree a focused set of improvement priorities and for NHS Trusts to receive stronger support in implementing proven safety interventions.

Launch Event

The NSPS 2024 was officially launched at the House of Lords on 12 December 2024, attended by leaders from across healthcare and policy. Speakers included Professor Lord Ara Darzi, Baroness Merron (Minister for Patient Safety), and Merope Mills, who shared a moving personal account.

Reception and Impact

The report received extensive coverage in the national media and has since been referenced in government strategy documents, including the Dash Review of the Patient Safety Landscape (published July 2025). Its central recommendations are now reflected in emerging national policy initiatives, and Patient Safety Watch remains closely engaged with senior system leaders as these changes are implemented.

Future Research

Building on this success, the Charity is now developing its second Global State of Patient Safety 2025 report, in collaboration with the Institute of Global Health Innovation. Due for publication in January 2026, this report will allow detailed comparison with our 2023 global study.

Going forward, the Charity plans to continue commissioning and publishing major research annually in partnership with Imperial College London. This ongoing programme underpins our mission to improve patient safety and reduce harm by producing robust evidence, disseminating findings, and promoting effective policies and interventions.

PATIENT SAFETY WATCH

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025

Communications and Engagement

Patient Safety Newsletters

The Patient Safety Newsletter remains a cornerstone of our communications strategy. Published fortnightly and distributed via the Health Service Journal (HSJ), the newsletter continues to expand in reach and influence. Since December 2024, Rt Hon Sir J Hunt and Mr J R Titcombe OBE have alternated as authors, providing insights from both policy and frontline perspectives. The newsletter now has over 1,100 direct subscribers, alongside a significantly wider readership through HSJ.

Policy and Parliamentary Engagement

In November 2024, Patient Safety Watch helped to establish the All-Party Parliamentary Group (APPG) on Patient Safety, chaired by Rt Hon Sir J Hunt and supported by more than 20 MPs.

Together with two other leading patient safety charities, PSW provides the APPG’s secretariat, coordinating its activities and supporting evidence-based debate in Parliament. To date, the APPG has:

The APPG is now planning a major Patient Safety Symposium in Westminster (January 2026), bringing together patients, frontline staff, academics, system leaders, and MPs to share insights and solutions.

External Engagement

The Trustees have encouraged participation in relevant conferences and events to raise awareness of the Charity’s work. During this reporting period, both Mr J R Titcombe OBE and Rt Hon Sir J Hunt represented Patient Safety Watch at several high-profile engagements, helping to extend our reach and strengthen partnerships.

Future Strategy

Looking ahead, the Charity will:

Through this sustained programme of activity, Patient Safety Watch will continue to contribute meaningfully to improving patient safety and reducing avoidable harm in healthcare.

PATIENT SAFETY WATCH

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2025

Financial review

In the financial year to 31 January 2025, the Charity received income of £159,544 (2024: £138,167) and incurred total expenditure of £154,544 (2024: £135,049).

For the year ended 31 January 2025 the Charity had therefore recorded net income of £5,000 (2024: net income of £3,118).

We are delighted to confirm the continued commitment from The Masimo Foundation of $60,000 during the year, in line with our annual report for the year ended 31 January 2024.

We are also delighted to confirm that RL Datix have committed a £10,000 donation to be made in 2025.

Reserves policy

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent of three 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. This level of reserves has been maintained throughout the year.

Future strategy

As per previous periods, the aims of the Charity for the coming years are to continue our research collaboration with Imperial College London, by commissioning and publishing a major piece of research annually.

The Charity will continue to produce regular, high quality patient safety newsletters and seek other opportunities to influence change by campaigning for improvements to patent safety, using insights and intelligence from our research. In particular, we have worked with a number of other patient safety focused organisations to establish a ‘Patient Safety All Party Parliamentary Group (APPG)’ in 2025.

Our ambition remains to develop a longer-term fund-raising strategy, with the principal aim of securing addition funding, which is hoped to enable the Charity to expand the scope of its research, engagement and campaigning work

Structure, governance and management

The Charity is controlled by its governing document, its articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr J R Titcombe OBE Mr D Grunberg FCA Dr M Durkin OBE Rt Hon Sir J Hunt (Appointed 6 November 2024)

Recruitment and appointment of trustees

Trustee Recruitment

New Trustees are appointed by existing Trustees by a majority vote.

PATIENT SAFETY WATCH

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2025

Risk Management

The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees have identified the following as significant risks to the Charity: over-reliance on limited sources of income, reputational damage, lower income than expected, and failure to secure a research partner. The Trustees are satisfied that appropriate measures are being taken to mitigate these risks.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

11761835 (England and Wales)

Registered Charity number

1185650

Registered office

5 Technology Park Colindeep Lane Colindale London NW9 6BX

Trustees

Mr J R Titcombe OBE Mr D Grunberg FCA Dr M Durkin OBE Rt Hon Sir J Hunt

Chief Executive

Mr J R Titcombe OBE

Independent Examiner

Grunberg & Co Limited Chartered Accountants 5 Technology Park Colindeep Lane Colindale London NW9 6BX

Solicitors

Stone King LLP Boundary House 91 Charterhouse Street Barbican London EC1M 6HR

Bankers

HSBC Bank PLC 8 Canada Square London E14 5HQ

PATIENT SAFEfY WATCH TRUSTEES, REPORT (INCIUDING DIREcfoFis' REPORT) ICONTINUED) FOR THE YEAR ENDED 31 A4NUARY2025 TheTrustee5' rep)rt wa5 appr￿led b4 theeoard of Trwtee5. Mrj R T6tcombe OBE 14 November 2025

PATIENT SAFETY WATCH

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF PATIENT SAFETY WATCH

I report to the Trustees on my examination of the financial statements of Patient Safety Watch (the Charity) for the year ended 31 January 2025.

Responsibilities and basis of report

As the Trustees of the Charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

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 that in any material respect:

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 financial statements to be reached.

Gedalia Waldman BA FCA Grunberg & Co Limited Chartered Accountants 5 Technology Park Colindeep Lane Colindale London NW9 6BX 14 November 2025

PATIENT SAFETY WATCH

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JANUARY 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
2
112,000
47,544
Total income
112,000
47,544
Expenditure on:
Charitable activities
3
107,000
47,544
Total expenditure
107,000
47,544
Net income and movement in
funds
5,000
-
Reconciliation of funds:
Fund balances at 1 February 2024
15,568
-
Fund balances at 31 January 2025
20,568
-		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
159,544
90,000
48,167
159,544
90,000
48,167
154,544
86,882
48,167
154,544
86,882
48,167
5,000
3,118
-
15,568
12,450
-
20,568
15,568
-		 Total
2024
£
138,167
138,167
135,049
135,049
3,118
12,450
15,568

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

PATIENT SAFEfY WATCH STATEMENT OF FINANaAL posmoN ASAT31 A4NUARY2025 2024 Cuvy•rt￿•ts Cash at bank and in hand 26A88 20,722 15.9201 15.lYI N•t curr•mt••ts 20.568 15.568 Th•fknds otth• tharllv Unrestrlcted funds 20.568 15.$68 20.5&8 15,568 The comp•ny Is entttledtotheexemptb)n from the •udtt requlrementcortslned lft section 477 of theCOmpan￿5 Act 20C6, for the year ended 31January 2025. The dlrertors acknowledge Ihelr fe5FonsfbiiJLles lor com￿￿nI wf¢h Ihe ￿￿oreMeM$ olthe Comwles Art wtth fe5pect to attountln8 records •nd the preparatlon of flnanclalstaiements. The Mem￿15 have not reqUIr￿ the company ty oLalD an audtt of tts flnanctsl Swements for the yeai In questlon In cordance with sectlon 476. Theseflnandal SteM•￿ hwe been prepwed In x¢ordaTrcewtth the wovtslons apF41ca￿ to companles sublertto the small ¢ornpanles regime. TheftnancLglst•temerts wereapwoved ty theTr￿e¢S on 14 Plovember 2025 Mrj R Trf(combe OBE Company re8lstratlon number 11761835 IEn8land and Walesl

PATIENT SAFETY WATCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025

1 Accounting policies

Charity information

Patient Safety Watch is a private company limited by guarantee incorporated in England and Wales. The registered office is 5 Technology Park, Colindeep Lane, London, NW9 6BX, United Kingdom.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 Charity is a Public Benefit Entity as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

1.4 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. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably.

Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.

PATIENT SAFETY WATCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2025

1 Accounting policies

(Continued)

1.5 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 are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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:

Computers 33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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 and bank loans 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.

PATIENT SAFETY WATCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

1.8 Pension costs and other post-retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Income from donations and legacies

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Donations and gifts 112,000 47,544 159,544 90,000 48,167 138,167

3 Expenditure on charitable activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Direct costs
Insurance 499 249
Printing, postage and stationary 4,140 -
Sundry expenses 1,050 554
Travel 765 690
Research 119,000 100,000
Bank charges 1,443 1,459
126,897 102,952
Share of support and governance costs (see note 4)
Support 22,415 27,747
Governance 5,232 4,350
154,544 135,049
Analysis by fund
Unrestricted funds 107,000 86,882
Restricted funds 47,544 48,167
154,544 135,049

PATIENT SAFETY WATCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2025

4 Support costs allocated to activities

Management
Other
Governance costs
Analysed between:
Unrestricted funds
Governance costs comprise:
Independent examination		 2025
£
22,415
-
5,232
27,647
27,647
2025
£
5,232
5,232		 2024
£
24,387
3,360
4,350
32,097
32,097
2024
£
4,350
4,350

Expenditure includes payments to the independent examiner of £3,415 (2024: £3,333) for independent examination fees, and £1,817 (2024: £1,017) for other services provided.

No payments were made to a defined contribution retirement benefit scheme within support costs in the current or prior year.

5 Trustees

Other than the employee noted in note 6, none of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

6 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
1 1

There were no employees whose annual remuneration was more than £60,000.

7 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

PATIENT SAFETY WATCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2025

8 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Accruals and deferred income		 2025
£
1,496
911
3,513
5,920		 2024
£
1,432
722
3,000
5,154

9 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 February Incoming Resources At 31 January
2024 resources expended 2025
£ £ £ £
General funds 15,568 112,000 (107,000) 20,568
Previous year: At 1 February Incoming Resources At 31 January
2023 resources expended 2024
£ £ £ £
General funds 12,450 90,000 (86,882) 15,568

10 Related party transactions

During the year, £2,000 (2024: £nil) was paid to Patient Safety APPG who, as noted in the Trustees' Report on page 3, is chaired by the Rt Hon Sir J Hunt.