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2023-12-31-accounts

The Chartered Society of Physiotherapy Charitable Trust

REPORT AND FINANCIAL STATEMENTS

31 December 2023

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The Chartered Society of Physiotherapy Charitable Trust

REPORT OF THE TRUSTEES

Year ended 31 December 2023

Trustees

Paul Chesterton CSP member Jo Jackson CSPCT Chair Rekha Soni CSP member David FitzGerald Lay Trustee Chris Garcia Lay Trustee, CSPCT Vice-Chair Catherine Minns Lowe Chair of Scientific Panel Tom Wainwright CSP member Jane Hislop Chair of Education Awards Panel Rhoda Allison CSP member Maurice Darding Lay Trustee Clare Kell CSP member Sivaramkumar Shanmugam CSP member

Appointed December 2021 (Resigned April 2023) Appointed December 2021 Appointed December 2021 Appointed December 2021 Appointed December 2021 Appointed September 2022 Appointed October 2022 Appointed January 2023 Appointed January 2024 Appointed January 2024 Appointed January 2024 Appointed January 2024

Principal The Chartered Society of Physiotherapy Charitable Trust
address
3rdFloor South
Chancery Exchange
10 Furnival Street
London
EC4A 1AB
Independent

Richard Weaver
Examiner Haysmacintyre LLP
10 Queen Street
London EC4R 1AG
Bankers Lloyds TSB Bank PLC
25 Gresham Street
London
EC2V 7HN
Investment Rathbone Investment Management Limited
Managers 8 Finsbury Circus
London
EC2M 7AZ
Registered 1197247
Charity No.

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The Chartered Society of Physiotherapy Charitable Trust

REPORT OF THE TRUSTEES

Year ended 31 December 2023

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The Trustees of the Chartered Society of Physiotherapy Charitable Trust (CSPCT) present their annual report and the audited financial statements for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial stat 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.

1. CONSTITUTION AND OBJECTS

The Charitable Incorporated Organisation (CIO) was created by a constitution dated 05 November 2021. The CIO is a registered charity, number 1197247.

The Charity was incorporated on 21 December 2021 and prior year comparatives are included on the first period of accounting basis from the incorporation period of 21 December 2021 to 31 December 2022.

The objects of the charity are the aiding in the prevention or relief of human suffering and the protection or preservation of public health by the advancement of education and research in subjects relevant to the practice of physiotherapy and kindred forms of treatment. The vision of the CIO is therefore to support the advancement of excellence in physiotherapy practice and service delivery, the foundation for which is research, evidence based practice and continuing professional development.

2. OBJECTIVES AND ACTIVITIES

The Trustees confirm that they have referred to the guidance provided by the Charity Commission on public

The CIO seeks to carry out its objectives for public benefit as stated in Section 1 through providing financial support to chartered physiotherapists to:

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Year ended 31 December 2023

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3. STRUCTURE, MANAGEMENT AND GOVERNANCE PROCEDURES

The Chartered Society of Physiotherapy Charitable Trust

REPORT OF THE TRUSTEES

The Trustees of the CIO currently comprise members of the CSP as well as lay Trustees. The constitution sets out the terms of office for Trustees.

Number of Trustees:

There must be at least four Trustees. If the number falls below this minimum, the remaining Trustee or Trustees may act only to call a meeting of the Trustees, or appoint a new Trustee or new Trustees.

The maximum number of Trustees that can be appointed is as stipulated above. No Trustee appointment may be made in excess of these provisions.

There must be at least two Trustees who are resident in the United Kingdom.

All Trustees, with the exception of the two Ex-Officio Trustees, join the CSPCT Board via an appointment process. All candidates are asked to submit via email, a personal statement which addresses how they can meet all the requirements of the person specification, a CV of no more than two sides of A4, which sets out recent employment and voluntary activity relevant to the role and a covering letter which includes the names of two referees who can comment on their suitability for the role. Candidates should also indicate whether the CSPCT can contact their referees prior to interview, if appropriate.

A sub-panel of three Trustees, to include BOTH the Chair and Vice-Chair where possible (and otherwise at least the Chair OR the Vice-Chair) to form a recruitment panel at each recruitment round.

Each Trustee holds office for a term of 3 years from the date of his/her appointment and is eligible for reappointment for one further term of 3 years, in accordance with the process applicable to new candidates.

Trustees are offered training where it is considered that it will enhance the skill set of the Board or where there is specific training needed. The Board meets three times a year and at these meetings Trustees consider and agree future grant-making activities, investment activities, risk management and operational performance.

CSPCT and CSP are organisations that share similar missions to: develop physiotherapy practice, research and education; enhance the quality of patient experience and outcomes; and raise the profile of both organisations and UK physiotherapy. The entities are legally separate with clear and separate governance arrangements.

As the CIO is a separate legal entity to the CSP, and retains its own control, in the view of the Trustees, consolidated accounts are not required.

Trustees, and the

annual budgets.

4. INVESTMENT AND RESERVES POLICIES

towards closure over a 4 to 5 year period, with the Charity to potentially remain open after that period solely for the administration of any final awarded grant tranches.

towards closure, therefore utilising capital and income to fund grants to applicants in the intervening period, and the administrative costs of the Charity. The Trustees regularly review this policy in light of available funds and committed costs. At 31 December 2023, unrestricted funds totalled £1,271,463. Ongoing grant commitments funded from unrestricted funds totalled £1,210,824. In 2023, administrative costs of £159,715 were incurred, with no significant increases planned during 2024. The reserves position is deemed to be sufficient to cover the immediate commitments, as well as the ongoing running costs towards closure.

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The Chartered Society of Physiotherapy Charitable Trust

REPORT OF THE TRUSTEES

Year ended 31 December 2023

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level of risk given its needs for funds over the period to closure, by generating a return above inflation over the period to closure. The Trust adopts a total return approach to investment, generating the investment return from income and capital gains or losses. It is expected that if in any one year the total return is insufficient to meet the budgeted grant making expenditure, in the long term the real value of the Trust will still be maintained in accordance with the investment objective above. Investment performance is reviewed annually and returns are compared against the appropriate industry benchmarks.

5. RISK MANAGEMENT

The Trustees actively review the major risks which the charity faces on a regular basis, including operational and business risks, and consider that they have established appropriate systems to mitigate the risks identified.

The Trustees consider the largest risk facing the Trust to be the reasonable identification and forecasting of income sources to support its work, in light of volatile investment performance, a suspension of the annual donation received from the CSP, and future annual increases to support costs. The Trustees consider the level of reserves held to be more than adequate to continue the operations of the Trust for the foreseeable future given the very low operating costs and committed costs of the Trust. The Trust will continue to regularly review cash flow forecasts, investment performance and opportunities for new funding sources. The Trust will keep under close consideration the amount of funding it has available to commit to new grant applications when reviewing proposals. The Trustees do not consider there to be any other significant risks affecting the Trust.

6. GRANT MAKING POLICIES

Grants to are made institutions and individuals in two broad categories: education and research.

The beneficiaries of grants awarded are ultimately those who will receive services and treatment from a chartered physiotherapist. Those services may be indirectly or directly provided.

The Trustees seek to invite applications for funding through the following panels: Scientific Panel and Education Awards Panel. Applicants submit proposals to the appropriate panel who then scrutinises the applications against a set of predetermined criteria. Grants are awarded on the basis that applications are robust, fit for purpose and funds as follows:

Education Awards Panel

Scientific Panel

Academically Accredited Courses Award Physiotherapy Research Foundation Award: Pre-Doctoral Award Education and Development Placements Award Conference and Presentation Fund Physiotherapy Research Foundation Award: Post-Doctoral Award

Trustees also consider the funding of projects outside of the current grants they award, which they feel are of merit and which they wish to support in line with their objectives. The Trustees consider these work projects against the

7. ACHIEVEMENTS AND PERFORMANCE OF THE CIO

The CIO seeks to ensure that the work it supports is robust and aids in the prevention or relief of human suffering and the protection or preservation of public health by the advancement of education and research in subjects relevant to the practice of physiotherapy and kindred forms of treatment. The Trustees see dissemination of the

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The Chartered Society of Physiotherapy Charitable Trust

REPORT OF THE TRUSTEES

Year ended 31 December 2023

learning and knowledge acquired from any projects they award grants to as paramount to ensuring that this is achieved.

The achievements and performance of the CIO are measured in the following ways:

7.1 Research Awards

For the awards administered through the Scientific Panel, all successful applicants are asked to submit annual and final reports of their work, present their findings at appropriate forums, have their papers published in appropriate journals, and present at the CSP Annual Conference.

In order to comply with registration requirements for randomised controlled trials (RCT) and to maintain a public portfolio of Physiotherapy Research Foundation (PRF) projects, successful applicants undertaking a randomised controlled trial are required to apply for International Standard Randomised Controlled Trials Number (ISRCTN) registration.

For all projects which are prospective trials, it is mandatory that they are prospectively registered with a recognised registry.

7.1.1 Physiotherapy Research Foundation Awards

Completed research

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Project Ref / Project Title Publications Professional Impact
Lead Presentation /
Researcher Conferences
PRF/19/A18 The experiences Yeowell G, Leech R, Physiotherapy As a consequence of this
of Greenhalgh S, Willis E, Selfe Research Society. research, [there is now]
Yeowell
physiotherapists in J. (2023). The lived Yeowell (2023) an understanding of:
relation to Cauda experiences of Keynote speaker:
Equina Syndrome physiotherapists involved in Litigation in UK
litigation and process of
and litigation Cauda Equina Syndrome physiotherapy
medico-legal litigation in
Litigation. A qualitative pathway to impact
relation to
study. PLOS ONE.
physiotherapists in the
https://doi.org/10.1371/journ Physiotherapy
UK (investigated in
al.pone.0290882 Conference (Nov
Phase 1,2,3)
2023) Yeowell G,
Greenhalgh S, et al.
Yeowell G, Leech R,
(2023). Keep Calm of physiotherapists
Greenhalgh S, Willis E, Selfe
and carry on: The involved in CES
J. (2022) Medico-legal
lived experiences of litigation cases (explored
litigation of UK
UK physiotherapists in Phase 2)
physiotherapists in relation to
involved in Cauda
Cauda Equina Syndrome: A
Equina Syndrome
multi-methods study. BMJ physiotherapists (Phase
Litigation. A
Open. 1,2,3)
qualitative study
https://bmjopen.bmj.com/con
(speaker).
tent/12/7/e060023
needs for
Leech RL, Selfe J, Ball S, physiotherapists in
Greenhalgh S, Hogan G, relation to CES litigation
Holway J, Willis E, Yeowell
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The Chartered Society of Physiotherapy Charitable Trust

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Year ended 31 December 2023

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c
G. (2021) A scoping review: (investigated in Phase
Investigating the extent and 2,3)
legal process of Cauda
Equina Syndrome claims for
UK physiotherapists. A series of
Musculoskeletal Science & recommendations have
Practice. been made to support UK
https://doi.org/10.1016/j.msk physiotherapists involved
sp.2021.102458 in litigation to ensure
their health and
Leech RL, Selfe J, Ball S,
wellbeing.
Greenhalgh S, Hogan G,
Holway J, Willis E, Yeowell
G. (2021) A scoping review:
[Outputs included] a
Investigating the extent and
report by Jeremy Hunt
legal process of Cauda
MP, to the House of
Equina Syndrome claims for
Commons Health and
UK physiotherapists.
Social Care Committee
Musculoskeletal Care.
on NHS litigation
https://doi.org/10.1002/msc.1
reform, which cites [this]
550
research throughout. As a
Frontline. (2023) Hot topic. consequence, [the]
research has the potential
carry on. Frontline, 29,2, to change UK policy on
p24-26. NHS litigation.
https://www.csp.org.uk/frontl
-
ine/article/litigationkeep
calm-carry
Project Ref / Project Title Impact
Lead
Researcher
PRF/19/B05 Understanding the The value of undergoing diagnostic imaging was considered wide-ranging
Cuff use of diagnostic from a patient perspective in attempt to help make sense of their symptoms,
imaging in with this value appearing more perceived than actual. Despite this, patients
musculoskeletal did not feel fully informed or involved in the decision-making process.
pain conditions
affecting the Whilst for clinicians, the results demonstrate that imaging use requires
lower back, knee context with wide-ranging considerations informing an imaging request,
and shoulder: a with these considerations refined with experience. Whilst patient
qualitative expectations influence how imaging is used, clinicians will engage in what is
investigation. considered a challenging conversation if they do not feel this expectation is
appropriate, often adopting a gatekeeper role to whether imaging is in turn
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Year ended 31 December 2023

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PRF/19/B18 Student led Findings from the study have generated 4 key themes for student
Wynne neurological experiences of attending [student-led clinics] SLC. These were : 1) student
rehabilitation: A experience; 2) learning environment; 3) service user involvement; and 4)
longitudinal SLC organisation.
exploration of
physiotherapy Whilst SLCs are in existence in other contexts, they are still in their infancy
student in the UK as a model of practice-based learning preparation/education and
experiences and as such there is a paucity of research in this country. This study, through
service user explor
satisfaction. established that physiotherapy neurological rehabilitation SLCs could have a
place to further develop students skills in pre-registration curricula and
provide value to the service users who attend. This study indicates there is
further potential to develop SLCs to enhance the student and service user
experience.
PRF/20/C09 Do working [Lower than expected recruitment meant that] useful data analysis [could
Mallows alliance, patient not] be undertaken and, a decision [was] taken to close the study before the
outcome planned sample size [could be] achieved.
expectations and
self-efficacy
predict changes in
pain and disability
from treatment for
Achilles
tendinopathy?
Project Ref / Project Title Publications Professional Impact
Lead Presentation /
Researcher Conferences
PRF/PPEF- Community Age and Aging September Internationally at the This research offers key
21-PRE01 2023: 11th Fragility tangible strategies on
Adams Perceptions of perspectives of barriers and Fracture Network improving rehabilitation
Provision of facilitators to effective Global Congress in following hip fracture,
Rehabilitation community provision after October 2023 which could be
After Hip Fracture hip fracture: a qualitative applicable across
study in England - PMC Presented at English. It identifies
(nih.gov) Physiotherapy areas of practice that
Symposium at Guys could be tested to further
improve care for such a
hospital. vulnerable population of
patients.
NP/18/01 Guiding family Chugh Deepti, G WAITE, S Great Ormond Street Our findings make an
decision making CAWKER, P HARNIESS, J Hospital Trust important contribution to
Cawker
around Selective WRAY, K OULTON. Neurodisability literature as the first
Dorsal Rhizotomy (2021). Children and young Research day study to include parental
A family people's perspectives on and children and young
participatory decision-making and their people (CYP)
research project to experiences around selective Presentation of perspectives on SDR
co-design pre- dorsal rhizotomy. findings of the clinical decision making.
operative Developmental medicine and project to a mixed
counselling child neurology, 63 (S2 professional
information Special Issue: Abstracts of audience as part of Positive parental
the 33rd Annual Meeting of Selective dorsal decision-making
the European Academy of rhizotomy (SDR) experiences are critical
Childhood Disability training lecture. within SDR to ensure
(EACD), Europe (Virtual), that expectations are able
May-June 2021), pp. 27-79. to match the reality of
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The Chartered Society of Physiotherapy Charitable Trust

REPORT OF THE TRUSTEES

Year ended 31 December 2023

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c
G WAITE, D CHUGH, S potential short- and long-
CAWKER, K OULTON, J term outcomes.
WRAY, P HARNIESS.
(2021). Developmental
Medicine and Child Greater understanding of
Neurology. Parental decision- the experiences and
making around selective expectations of parents
dorsal rhizotomy - A family and CYP leading up to
participatory research, 63(S2 SDR surgery has
Special Issue: Abstracts of implications for the
the 33rd Annual Meeting of clinical and psychosocial
the European Academy of support required.
Childhood Disability
(EACD), Europe (Virtual),
May-June 2021), pp. 27-79.
Waite G, Cawker S, Chugh
D, Harniess P, Oulton K.
(2019). 71 Putting public
patient involvement to work-
how families are making
research more meaningful in
the area of selective dorsal
rhizotomy. doi:
10.1136/archdischild-2019-
gosh.71
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2023 Awards and Cancellations

The table below provides details of 2023 PRF awards and cancellations. Where project end dates are earlier than 2023, the funds now cancelled had previously remained available to grant holders as per the conditions in their grant award letters.

Project Ref / Title
Host
Institution
Award
Status
Project
Start
Date
Project
End
Date
Funding
Value
Cancellation
Value		 Title
Host
Institution
Award
Status
Project
Start
Date
Project
End
Date
Funding
Value
Cancellation
Value		 Title
Host
Institution
Award
Status
Project
Start
Date
Project
End
Date
Funding
Value
Cancellation
Value		 Title
Host
Institution
Award
Status
Project
Start
Date
Project
End
Date
Funding
Value
Cancellation
Value		 Title
Host
Institution
Award
Status
Project
Start
Date
Project
End
Date
Funding
Value
Cancellation
Value		 Title
Host
Institution
Award
Status
Project
Start
Date
Project
End
Date
Funding
Value
Cancellation
Value		 Title
Host
Institution
Award
Status
Project
Start
Date
Project
End
Date
Funding
Value
Cancellation
Value

Lead
Researcher
PRF/23A/
POD08
Baker		 A Phase II feasibility trial
of transcutaneous
auricular vagus nerve
stimulation for people
with Myalgic
Encephalomyelitis
University of
Liverpool
Conditional
Offer
TBC
TBC £101,620.26
-
PRF/23A/
POD11 Hall		 A new, novel walking
frame for older adults in
community settings
feasibility study with
qualitative evaluation and
health economic analysis
University of
Exeter
Conditional
Offer
TBC
TBC
£98,249.11
-
Project Ref / Title
Host
Institution
Award
Status
Project
Start
Date
Project
End
Date
Funding
Value
Cancellation
Value

Lead
Researcher
PRF/23A/
POD14 Neal		 Is online patient
education feasible in
people with
patellofemoral pain whilst
they wait for
physiotherapy: a





University of
Essex
Conditional
Offer

TBC		 TBC £101,177.78 -

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The Chartered Society of Physiotherapy Charitable Trust

REPORT OF THE TRUSTEES

Year ended 31 December 2023

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c
randomised controlled
feasibility trial
PRF/23A/ Cognitive Muscular University of Un- 01/05/24 30/06/25 £52,343.00 -
PRE04 therapy versus Salford conditional
Brookes psychologically informed Offer
Physiotherapy In non-
specific chronic Neck
pain: a feasibility study
(COMPIN)
PRF/23A/ Defining and measuring Oxford Conditional N/A N/A £52,233.48 £52,233.48
PRE05 Dove leg weakness in people University Offer.
with sciatica. A mixed Applicant
methods study. withdrew
PRF/23A/ Does collaborative University Conditional TBC TBC £18,040.53 -
PRE08 Heelas working between pain College Offer
specialists and social London
prescribers / primary
health teams, increase
community asset
participation and improve
health outcomes, in
people living with chronic
pain?
PRF/23S/ Developing a Training University of Awarded 01/03/24 31/10/25 £71,629.00 -
POD01 Programme and Real East Anglia
Chester Time Support for
Physiotherapists to
integrate Behaviour
Change Conversations
into their Clinical
Practice.
PRF/23S/POD What are the most Oxford Awarded 01/03/24 20/10/26 £88,808.00 -
05 important surgical and University
Nicolson rehabilitation outcomes to Hospitals
patients after total knee NHS
replacement? A discrete Foundation
choice experiment. Trust
PRF/18/B12 Caregiver Experiences of Newcastle Completed 11/03/19 31/03/20 - £1,004
Knight Lozano Paediatric Inpatient upon Tyne
Cardiac Services: A Hospitals
Qualitative Systematic NHS
Review Foundation
Trust
PRF/17/B17 Acupuncture in addition Newcastle Completed 10/10/18 14/10/20 - £2,100.00
Hargreaves to standard conservative Upon Tyne
treatment for overactive NHS
bladder; a feasibility trial Foundation
for a randomised Trust
controlled study.
(ACASO Study)
Project Ref / Title Host Award Project Project Funding Cancellation
Lead Institution Status Start End Value Value
Researcher Date Date
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c
PRF/16/A07 Individual patient data Keele Completed 27/03/17 31/03/20 - £2,600.00
Holden meta-analysis of trials University
investigating the
effectiveness of exercise
in patients with knee and
hip osteoarthritis
PRF/16/B07 Effects of Ankle and First Plymouth Completed 24/01/18 31/01/20 - £6,668.54
Lepesis Metatarsophalangeal Joint University
Mobilisations on Range
of Motion and Forefoot
Plantar Pressures in
Diabetic Peripheral
Neuropathy
PRF/17/B01 Aerobic exercise after University of Completed 01/05/18 30/04/19 - £1,500
Gaskins stroke: perspectives of Central
physiotherapists working Lancashire
in stroke or cardiac
rehabilitation
PRF/16/A21 The patient journey University of Completed 18/12/17 17/06/19 - £501
Rushton following lumbar spinal Birmingham
fusion surgery (LSFS): a
qualitative analysis of the
PRF/16/B11 Perspectives of walking Birmingham Completed 27/06/17 27/08/18 - £1,500
Poole aid users, parents and Community
therapists on designing Healthcare
walking aids that NHS
encourage children with Foundation
disabilities to physically Trust
active.
PRF/15/A05 A novel, theory based University of Completed 01/05/17 30/06/18 - £600
Cramp intervention to promote the West of
engagement in physical England
activity in early
rheumatoid arthritis
(PEPA-RA): proof of
concept study.
PRF/15A19 An exploration of the Ulster Completed 01/09/16 31/08/18 - £600
Liddle history, presenting University
symptoms, treatment and
long-term outcomes of a
cohort of pregnant
women experiencing LBP
OPA/14/03 Skilful Care Training University of Completed 01/09/16 31/03/19 - £600
Forster Package for residents in Leeds
care homes: cluster
randomised controlled
feasibility trial.
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7.1.2 Match-Funded Research: 2023 cancellations

The CSPCT has negotiated matched-funding awards with partner charities whose purposes and priorities align with those of CSPCT. In order to be eligible to apply, principal investigators must be CSP members. All awards are administered, monitored and reviewed by the partner charities.

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The Chartered Society of Physiotherapy Charitable Trust

Action Medical Research

The CSPCT and Action Medical Research for children (AMR) had an agreement in place to annually joint fund an award for research in the area of paediatric non-acquired disability from birth, in particular through research into effective physiotherapy treatments and the dissemination of the results to the public.

The table below provides details of the 2023 cancellation within this initiative. The funds now cancelled had previously remained available to the grant holder, post project-end, as per the conditions of their award.

Award Title

 Funding
 Funding Cancellation
Reference
Start Date


End Date		 Value
GN2445
Helen Dawes		 Brain plasticity and motor skill competence
development in young people with
developmental coordination disorder		 2016 2019 £600

In 2016, the CSPCT match-funded

of this initiative was on research that covered four themes health and care service improvement, health promotion/prevention, health economic evaluation, and health intelligence and data linkage. It was anticipated that the expected primary outcomes of the research would lead to improvements in the quality of life of people with arthritis and/or contribute to the evidence base of knowledge relevant to people with arthritis. It was envisaged that a multidisciplinary approach would be undertaken across different groups. Awards under this

The CSPCT collaborated with Versus Arthritis to fund successful applications, with a particular focus on physiotherapy.

The table below provides details of the 2023 cancellations within this initiative. The funds now cancelled had previously remained available to the grant holders, post project-end, as per the conditions of their award.

Award Title
Project Start
Date		 Title
Project Start
Date		 Project End Cancellation
Reference
Date		 Value
21403
Ross Wilkie		 Getting sustainable, person-centred
musculoskeletal health intelligence from
primary care electronic health record
linkage and modelling: the PRELIM
initiative.
01/01/17		 30/04/20 £600
21405
Jonathan Hill		 Implementing the MSK-HQ to empower
patients and improve services.
01/11/16		 30/09/19 £600

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7.2 Education Awards

The tables below provide details of 2023 education awards and cancellations by award category.

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Academically Accredited Courses Award : Funding to help chartered, student and associate members of the
CSP undertaking academically accredited programmes of study, which should serve to enhance their skills and
knowledge, and enhance patient care
Award ref Awardee name Funding value Cancellation value
AAC 3134 Pei Tan £500.00
AAC 3145 Rachel Smith £500.00
AAC 3149 Nicholas Livadas £2,200.00
AAC 3156 Samantha Grace £5,475.00
AAC 3158 Harriet Doody £300.00
AAC 3160 Emily Hatch £3,381.00
AAC 3178 Arun Georgeyson Pheshi Joseph £8,894.00
AAC 3180 Hayley Williams £5,865.00
AAC 3188 Paul MacDonald £9,540.00
AAC 3189 Susan Dargie £3,450.00
AAC 3238 Katherine McNabb £5,072.00
AAC 3262 Sarah Smart £6,000.00
AAC 3285 Uzo Ehiogu £6,550.00
AAC 3319 Carmen Taylor £4,440.00
AAC 3320 Sarah Rand £2,278.00
AAC 3329 Chun Sum £2,825.00
AAC 3332 Sian Doughty £700.00
AAC 3338 Anthony Crooks £3,625.00
AAC 3339 Fiona Lovell £3,493.00
AAC 3341 Joshua Slater £3,250.00
AAC 3342 Ellie Mayhew £4,535.00
AAC 3343 Lydia Heins £5,698.00
AAC 3345 Linda Fettus £2,325.00
AAC 3361 Lucy Ridgway £10,000.00
AAC 3362 Sian Kinal £5,475.00
AAC 3366 Carissa Jones £5,996.00
AAC 3372 David Gill £4,250.00
AAC 3374 Lucy Dove £10,000.00
AAC 3390 Martino Secchia £675.00
AAC 3426 Linsay Clark £2,375.00
AAC 3431 Deborah Church £438.00
AAC 3437 Louise Bluck £3,298.00
AAC 3440 Brooke Nairn £10,000.00
AAC 3441 Leila Heelas £2,170.00
AAC 3443 Amy Wolfe £5,238.00
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Conference & Presentation Award : Funding for chartered, associate or student members who wish to contribute to national or international physiotherapy/ interdisciplinary conferences. Funding for members who are up to Band 5 physiotherapists to attend a physiotherapy national or international conference for the first time

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Award ref Awardee name Funding value Cancellation value
CPA 3322 David Nicklin £896.00
CPA 3324 Ben Foxcroft £689.00
CPA 3327 Sharon Morgans £1,004.00
CPA 3355 Akushla Senarath Rathnayake £2,500.00 £2,500.00
CPA 3358 Natalie Thrale £752.00
CPA 3359 Rebecca Nightingale £1,883.00
CPA 3381 Mohammad Al-Rashed £550.00
CPA 3388 Casey Farrell £1,633.00
CPA 3423 Diarmuid Denneny £2,307.00
CPA 3428 Dore Young £763.00
CPA 3439 Laura Burgess £638.00
CPA 3444 Jacqueline Walumbe £2,300.00
----- End of picture text -----

Education and Development Placements Award : Funding to assist chartered, associate and student members travelling overseas, support enhancement of physiotherapy through international education and development projects, and to assist pre-registration physiotherapy students undertaking an elective clinical placement or similar educational exchange

----- Start of picture text -----
Award ref Awardee name Funding value Cancellation value
EDP 3167 Hebe Henderson £2,000.00
EDP 3169 Daisy Holden Craufurd £2,000.00
EDP 3170 Sinéad Murtagh £2,000.00
EDP 3172 Francesca Binning £2,000.00
EDP 3174 Laura Clements £2,000.00
EDP 3203 Zoe Hall £2,000.00
EDP 3209 Alice Bastick-Ruiz £2,404.00 £2,404.00
EDP 3211 Nicole Kerroum £2,000.00
EDP 3240 Georgia Allen £2,000.00 £2,000.00
EDP 3259 Kathryn Lynch £2,000.00
EDP 3260 Sophie Murtagh £2,000.00
EDP 3263 Chloe Meehan £2,389.00
EDP 3265 Lara Church £2,000.00
EDP 3273 Ruth Sellar £2,000.00
EDP 3286 Iona Bateman £2,000.00
EDP 3291 Andrea Dominguez Carvalho £2,950.00
EDP 3292 Seren James-Williams £2,000.00
----- End of picture text -----

Application Writing Support

The Education Awards Panel planned and started delivery of further measures designed to provide applicants with support throughout the application process. Applicants have access to a range of online resources in written and video formats, which provide enhanced guidance on using the scoring criteria to produce a good quality submission. The first of a series of webinars was held during the year, giving applicants direct access to members of the awarding Panel and the Awards Administrator for responses to specific questions about eligibility, tips on writing a funding application and processes and procedures. 5 of the webinar attendees went on to apply for awards and were all successful in receiving funding, demonstrating the effectiveness of enhanced writing support.

13

REPORT OF THE TRUSTEES

Year ended 31 December 2023

The Chartered Society of Physiotherapy Charitable Trust

c

7.3 CSPCT funded projects

7.3.1 CSP Leadership Development Programme (LDP)

and the project closed, with a final report being submitted to the CSPCT in November 2023.

No cohorts ran at either HEI (University of Hertfordshire and University of Central Lancashire) as the final portion of CSPCT funding was allocated for evaluation.

Phase one of the evaluation, which was carried out internally, was completed in Q1 2023. This looked at the impact of the LDP on alumni, their careers and the wider physiotherapy profession, and whether there were any differences in experience for alumni who identified as White and Black, Asian and Minority Ethnic. Phase one used a mixed-method approach and approximately 16% of those who took part in the LDP responded. A summary of the findings are as follows:

Phase two used CSPCT funding and following a tender exercise, the company Hedway were contracted to evaluate the LDP with the objectives of:

Phase two evaluation also used a mixed-method approach and was sent to 15,000 CSP members. There were 520 responses, of which 61 respondents were LDP alumni.

Some of the findings include:

14

c

The Chartered Society of Physiotherapy Charitable Trust

REPORT OF THE TRUSTEES

Year ended 31 December 2023

Feedback was also collated from the LDP alumni in their end of programme surveys each year. As stated in the CSPCT end of project report, feedback from the alumni showed a high satisfaction rate in the LDP, with 98% saying they would recommend it to a colleague. They reported an increase in confidence, self-awareness, ability to influence and enable change.

In 2023, two alumni online events were held: How to have difficult conversations in the workplace and Leadership of Equity, Diversity and Belonging in the workplace -

An additional award of £67,801 was made in 2023, to provide total funding of £490,435 for this project.

7.3.2 Transforming Community Rehabilitation to Improve Quality, Impact and sustainability and Community rehabilitation standards

----- Start of picture text -----
Title Project Start Project End Funding Value Cancellation Value
Date Date
Transforming 02.01.2020 26.04.23 £197,175 (No
Community new funding
Rehabilitation to Improve awarded in 2023)
Quality, Impact and
Sustainability, and
Community
----- End of picture text -----

To achieve the primary outcome of the project, the work was separated into four smaller elements, with individual focused objectives. The remaining element that was completed in early 2023 was the Quality Standards Project. The aim of which was to develop some best practice recommendations for the delivery of high-quality multidisciplinary rehabilitation. Deliverables to include a published set of recommendations, underpinned by the vision for Community Rehabilitation (developed as the Consensus statement by Community Rehab Alliance), which will include one version of the rehab prescription, which works across sectors and setting.

15

The Chartered Society of Physiotherapy Charitable Trust

REPORT OF THE TRUSTEES

Year ended 31 December 2023

c

The outcome to this project was that the standards were disseminated with presentations and engagement activity with key stakeholders and CRA partners in 2023.

The full standards document, as well as audit tools are available to download via the CSP website, here: https://www.csp.org.uk/professional-clinical/improvement-innovation/community-rehabilitationrecovery/important-reading/standards.

Since being uploaded to the CSP website the webpage containing the standards resources has seen in excess of 5,000 unique views and continues to be rolled out and disseminated through our countries and regional teams.

The contribution that the CSPCT funded has had a measurable impact with the standards being introduced and shared across regions and nations. Its reach is amplified as a result of its co production and the way it reaches across professional and patient groups and has demonstrated the sizable role the physiotherapy profession has leading the movement for rehab.

It has supported multi-disciplinary work with physiotherapy leading the calls for the transformation of rehab in the community.

7.3.3 Transforming Quality in Pre-registration Physiotherapy Education

Following the funding award of £70,456.50 from the CSPCT in August 2023, the project team has worked with the CSPCT Scientific Panel to develop a tender to procure a consultant (individual or group) to conduct multistakeholder research address the project aims & objectives.

This research project will inform the update of the CSP Learning and Development Principles and also identify and propose enhancements to CSP quality assurance processes of physiotherapy education which in turn will impact the design and delivery of pre-registration physiotherapy education in the UK.

The Learning & Development principles form the basis of quality assurance activity within pre-registration physiotherapy education and are a key document to which physiotherapy education programme teams must align to achieve CSP accreditation status.

Following the latest CSPCT Scientific Panel feedback, the tender is due to be launched in February 2024 with the aim of the project beginning in July.

7.3.4 Widening Participation

£11,900 was awarded in 2023 for a pilot award scheme with a twofold purpose:

1) To reduce financial barriers to attending CSP Annual Conference 2023.

2) To widen participation of attendees from groups previously under-represented at conference, including those who self-identify as Black, Asian and Minority Ethnic, Disabled or LGBTQIA+

CSP Annual Conference 2023 was held in five locations across the UK for in-person delegates, and as part of increasing accessibility all events could be attended virtually from anywhere.

After promotion in Frontline, our member magazine, our website, via email and to specific target groups, we received a total of 53 applications and our panel awarded financial support to 49 individuals; 23% identified as disabled, 32% BAME and 4% as LGBTQIA+.

As this was a pilot scheme, we set-up new processes to support this award including providing information, ticket booking, travel and accommodation arrangements and processing post-event expenses. We learned that some awardees, specifically those who are disabled, required additional one-on-one support to plan their in-person attendance and facilitate accessibility.

16

c

The Chartered Society of Physiotherapy Charitable Trust

REPORT OF THE TRUSTEES

Year ended 31 December 2023

We conducted a specific evaluation of the award from Nov 23 to Jan 2024 to gain further insight about experiences of the award and views on any future work in this space. The evaluation methods included a survey to all awardees, a series of semi-structured interviews with awardees and a focus group with staff to evaluate processes. Our analysis found recipients viewed the WP award as a positive CSP initiative, it was seen as supportive, inclusive, good value and important. All reported that it had provided them with an opportunity for learning and professional development that they would have not otherwise been able to access. Most awardees highlighted the importance of not having to pay conference costs up-front as claiming back costs was a barrier for those facing financial stress. All recipients wanted to see it continued into future conferences. The application process and booking system were reported to be straightforward by recipients, staff highlighted some process that could be streamlined if it were to run in the future.

7.4 Financial Results

The financial statements show a net decrease in retained funds of £742,478 (2022: £819,714) driven by a planned and budgeted increase in grants awarded over income received. Income increased from 2022 due to improved investment performance - £144,195 (2022: £122,593) was received from dividends, royalties and interest income from cash and investments, and £13,133 (2022: £13,823) was received as a Gift in Kind from CSP. Charitable expenditure included grants authorised of £857,823 (2022: £148,467) and operating and governance costs of £159,715 (2022: £156,068).

The investment portfolio valuation decreased by £392,157 to £4,812,274 (2022: £5,204,431). This decrease was due to the withdrawal of cash to meet ongoing commitments and is offset by an increased valuation at year end 7 to £347,874 (2022: £141,497) due to the cash withdrawal from the investment portfolio.

Total unrestricted funds decreased by £822,082 to £1,271,463 (2022: £2,093,545).

8. IMPROVEMENTS AND FUTURE DEVELOPMENTS

The assets and liabilities of the CSPCT, registered charity: 279882 were transferred to the CIO at the end of 2022. In 2023 the CIO has continued the work of charity 279882, in line with its own objectives, as set out in this report.

Historically, charity: 279882 was able to maintain its spending from financial reserves and receiving investment income and occasional bequests and legacies from members, member groups and external organisations. In recent years these latter sources of income had dwindled and so the Trustees of the current charity have decided to uphold the decision of the previous charity and will close once all reserves have been utilised.

In the me continue its activities as long as possible, whilst generating capital growth. Investment performance is reviewed annually and returns are compared against the appropriate industry benchmarks.

In 2024, the CIO will look to develop a research strategy for 2025-29, to guide funding in this period.

9. FUNDRAISING

Section 162a of the Charities Act 2011 requires charities to make a statement regarding fundraising activities. Although we do not undertake widespread fundraising from the general public, the legislation defines fund raising presented in

In relation to the above we confirm that all solicitations are managed internally, without involvement of commercial participators or professional fund-raisers, or third parties. The day to day management of all income generation is delegated to the executive team, who are accountable to the trustees.

17

The Chartered Society of Physiotherapy Charitable Trust

REPORT OF THE TRUSTEES

Year ended 31 December 2023

c The charity is not bound by any undertaking to be bound by any regulatory scheme and the charity does not consider it necessary to comply with any voluntary code of practice.

We have received no complaints in relation to fundraising activities. Our terms of employment require staff to behave reasonably at all times; as we do not approach individuals for funds we do not have particularise this to fundraising activities nor do we consider it necessary to design specific procedures to monitor such activities.

10. PREPARATION OF ACCOUNTS ON A GOING CONCERN BASIS

The financial statements have been prepared on a going concern basis. The decision to adopt this basis arises Trustees have undertaken a strategic initiative to transition towards closure over the next five years. The CIO will manage the orderly wind-down of operations, ensuring the fulfilment of outstanding commitments, and the responsible distribution of assets in accordance with the charitable objectives. At 31 December 2023 the CIO has a strong balance sheet to support its operation over the next 2-3 years. The CIO holds significant reserves in the form of its total investment portfolio. A forecasting exercise has shown that these reserves would be sufficient to continue current levels of expenditure in the short term at least until the end of 2025 even with a significant fall in portfolio value.

Signed on behalf of the Board of Trustees

Jo Jackson Chair of Trustees Date: 13 June 2024

18

c

The Chartered Society of Physiotherapy Charitable Trust

REPORT OF THE TRUSTEES

Year ended 31 December 2023

BILITIES

The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

19

The Chartered Society of Physiotherapy Charitable Trust INDEPENDENT EXAMINER S REPORT TO THE TRUSTEES

Year ended 31 December 2023

f

I report to the Trustees on my examination of the accounts of the Chartered Society for Physiotherapists Charitable Trust for the year ended 31[st] December 2023 which are set out on pages 21 to 33.

Respective responsibilities of trustees and examiner

The trustees are responsible for the preparation of the accounts in accordance with the requirements of the under section 144(2) of the Charities Act 2011 (the 2011 Act) and have chosen instead to have an independent examination.

Act and section 145 of the 2011 Act. In carrying out my examination I have followed the requirements of the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Since the charity has prepared its accounts on an accruals basis your examiner must be a member of a body listed in (the 2011 Act), I can confirm that I am qualified to undertake the examination because I am a registered member of the Institute of Chartered Accountants for 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 giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do 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.

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.

Richard Weaver, Haysmacintyre LLP, Institute of Chartered Accountants for England and Wales 10 Queen Street Place London EC4R 1AG

17 June 2024

20

The Chartered Society of Physiotherapy Charitable Trust

STATEMENT OF FINANCIAL ACTIVITIES

Year ended 31 December 2023

f

Note
Income from:
Donations
Investments
2
Total
Expenditure on:
Charitable activities
3
Research
Education
Innovation
Total
Gains / (Losses) on
investment assets
5
Net Income /
(expenditure)
Transfers between funds
9
Net movement in funds
Funds brought forwards
9
Funds carried forwards
9		 Unres-
tricted
funds
Restric-
ted funds
Endow-
ment
funds
Total
funds
Total
funds
2023
2023
2023
2023
2022
£
£
£
£
£
13,133
-
-
13,133
13,823
103,418
40,777
-
144,195
122,593
116,551
40,777
-
157,328
136,416
(273,984)
(791)
(648)
(275,423)
(163,944)
(572,287)
-
-
(572,287)
(121,082)
(169,828)
-
-
(169,828)
(19,509)
-
-
(1,016,099)
(791)
(648)
(1,017,538)
(304,535)
75,973
34,101
7,658
117,732
(651,595)
(823,575)
74,087
7,010
(742,478)
(819,714)
1,493
(1,493)
-
-
-
(822,082)
72,594
7,010
(742,478)
(819,714)
2,093,545
2,074,419
325,638
4,493,602
5,313,316
1,271,463
2,147,013
332,648
3,751,124
4,493,602

21

The Chartered Society of Physiotherapy Charitable Trust

BALANCE SHEET

Year ended 31 December 2023

Note
Fixed assets:
Investments
5
Current assets:
Bank and cash
Debtors
6
Current liabilities:
Creditors falling due within
one year
7
Net current liabilities
Creditors falling due in more
than 1 year
7
Total assets less liabilities
The funds of the charity:
9
Unrestricted funds
Restricted funds
Endowment funds
Total funds		 c
Total funds
Total funds
2023
2022
£
£
4,812,274
5,204,431
347,874
141,497
12,822
113,265
360,696
254,762
(1,148,762)
(493,230)
(788,066)
(238,468)
(273,084)
(472,361)
3,751,124
4,493,602
1,271,463
2,093,545
2,147,013
2,074,419
332,648
325,638
3,751,124
4,493,602

The financial statements on pages 21 to 33 were approved on behalf of the Board and authorised for issue on 13 June 2024

On behalf of the Board of Trustees

Jo Jackson Chair of Trustees

22

The Chartered Society of Physiotherapy Charitable Trust

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 December 2023

f

1. Accounting policies

Basis of accounting

The financial statements are prepared under the historical cost convention as modified by the inclusion of investments at market value. In preparing the financial statements the charity follows best practice as laid down accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011.

The Charitable Trust constitutes a public benefit entity as defined by FRS 102.

Going Concern

The financial statements have been prepared on a going concern basis. The decision to adopt this basis arises from The Trustees have undertaken a strategic initiative to transition towards closure over the next 3-4 years. The CIO will manage the orderly wind-down of operations, ensuring the fulfilment of outstanding commitments, and the responsible distribution of assets in accordance with the charitable objectives. At 31 December 2023 the CIO has a strong balance sheet to support its operation over the next 2 years. The CIO holds significant reserves in the form of its total investment portfolio. A forecasting exercise has shown that these reserves would be sufficient to continue current levels of expenditure in the short term at least until the end of 2025 even with a significant fall in portfolio

Donations and other income

Donations and other income are accounted for when the Trust is entitled to receipt of the funds, receipt is probable and the amount can be measured reliably.

Investment income

Investment income is accounted for in the period in which the Trust is entitled to receipt of the funds, receipt is probable and the amount can be measured reliably.

Expenditure

Costs of raising funds are accrued on the basis of the terms of the agreement with the fundraising contractor.

Grants payable are payments made to third parties in the furtherance of the charitable objects of the Trust and are charged in the year when the offer is conveyed to the recipient and any conditions attached to the grant have been met. Grant liabilities are reversed when a recipient confirms that they no longer intend to draw down remaining funds. Grant liabilities are reflected as due within one year or greater than one year based on expected drawdown as set out in grant agreements. Grants offered without condition are reflected when the offer has been agreed by the trustees and conveyed to the recipient. Amounts due within greater than one year are not discounted because the timing element is not enforceable.

Management & Administration costs comprise the costs incurred by the charity in its day-to-day operations. This primarily consists of the costs of CSP sta

objects.

Investments

Investments are included at closing bid-price at the balance sheet date. Any gain or loss on revaluation is taken to the Statement of Financial Activities.

23

The Chartered Society of Physiotherapy Charitable Trust

NOTES TO THE FINANCIAL STATEMENTS (Continued)

Year ended 31 December 2023

c

Fund accounting

The details of the nature and purpose of each fund are set out in note 9.

Financial instruments

full to its financial instruments.

Financial assets and liabilities

Financial assets and financial liabilities are recognised when the entity becomes a party to the contractual provisions of the instrument.

A financial asset or financial liability that is payable or receivable in one year is measured at the undiscounted amount expected to be received or paid net of impairment, unless it is a financing transaction.

2
Investment income
Deposit interest
Royalty income
Dividend income
Prior period
Deposit interest
Royalty income
Dividend income		 Unrestricted
Restricted
Endowed
2023
£
£
£
£
1,755
-
-
1,755
109
-
-
109
101,554
40,777
-
142,331
103,418
40,777
-
144,195
Unrestricted
Restricted
Endowed
2022
£
£
£
£
69
-
-
69
67
-
-
67
87,523
34,934
-
122,457
87,659
34,934
-
122,593

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24

The Chartered Society of Physiotherapy Charitable Trust

NOTES TO THE FINANCIAL STATEMENTS (Continued)

Year ended 31 December 2023

c

3 Expenditure

Expenditure
Research
Education
Innovation		 Grants
Governance and
support
2023
£
£
£
195,565
79,858
275,423
512,394
59,893
572,287
149,864
19,964
169,828
857,823
159,715
1,017,538
Grants
Prior period
£
Research
85,910
Education
62,557
Innovation
-
148,467
Governance and support
Examination fee
Other fees payable to the Examination firm
Legal and professional
Management & Administration
Governance costs
Movement in grants
Brought forward
Authorised
Cancelled
Paid
Carried forward		 Grants
£
85,910
62,557
-		 Governance and
support
2022
£
£
78,034
163,944
58,525
121,082
19,509
19,509		 Governance and
support
2022
£
£
78,034
163,944
58,525
121,082
19,509
19,509
148,467 156,068
304,535
2023
2022
£
£
3,521
6,000
1,800
3,600
954
6,576
149,815
137,697
3,625
2,195
159,715
156,068
2023
2022
£
£
869,531
1,182,010
936,727
153,525
(78,904)
(5,058)
1,727,354
1,330,477
(358,746)
(460,946)
1,368,608
869,531

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25

The Chartered Society of Physiotherapy Charitable Trust

NOTES TO THE FINANCIAL STATEMENTS (Continued)

Year ended 31 December 2023

r ended 31 December 2023
Grants expended can be analysed as follows:
to institutions
to individuals		 c
2023
2022
£
£
662,258
85,910
195,565
62,557
857,823
148,467

Grants are made to institutions and individuals in two broad categories: education and research. The beneficiaries of grants awarded are ultimately those who will receive services and treatment from a chartered physiotherapist. Those services may be indirectly or directly provided. These Grants are awarded on the basis that applications are

Grants are acknowledged in the Statement of Financial Activities upon approval by the Trustees and notification to beneficiaries. They are divided into amounts due within one year and those due after more than one year, based on the anticipated payment schedule. In the event of grant cancellations, approved cancellations are reflected in the Statement of Financial Activities.

The charity has taken the exemption available under charity law from providing the names of grant recipients and the amounts of such grants during the lifetime of the settlor who donated the funds from which the grants are paid or during the lifetime of any spouse or civil partner of the settlor.

During the year grants totalling £531,868 (2022 - £89,324) were awarded f or the Physiotherapy Research Foundation.

Education awards of £195,565 were made to 62 individuals (2022 - £62,557 were made to 53).

4 Employees and Trustees

No staff are employed directly by the Trust. All management and administrative activities are undertaken by CSP and recharged to the Trust.

No Trustees were reimbursed travel and accommodation expenses from the Trust (2022 £195 for two Trustees).

No Trustee received remuneration from the Trust in 2023 or 2022.

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26

The Chartered Society of Physiotherapy Charitable Trust

NOTES TO THE FINANCIAL STATEMENTS (Continued) Year ended 31 December 2023

c

5 Investments

Listed investments: fair value

Market Value at 1 January
Disposals/ transfers
Management fee
Cash withdrawals
gain / (loss) on revaluation
Market Value at 31 December
Of which was cash
Of which was listed shares
Historical Cost at 31 December
6
Debtors
Accrued income
Other debtors
Prepayments
7
Creditors
Amounts falling due in less than one year:
Trade creditors
Grants payable
Accruals
Amounts falling due in more than one year
Grants payable		 2023
2022
£
£
5,204,431
5,866,934
-
(2,170)
(9,869)
(10,908)
(500,020)
117,732
(649,425)
4,812,274
5,204,431
126
504,217
4,812,148
4,700,214
3,049,938
4,450,614
2023
£
2022
£
12,614
49,024
-
64,241
208
-
12,822
113,265
2023
£
2022
£
34,503
1,923
1,095,525
397,171
18,734
94,136
1,148,762
493,230
273,084
472,361
273,084
472,361

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27

The Chartered Society of Physiotherapy Charitable Trust NOTES TO THE FINANCIAL STATEMENTS (Continued) Year ended 31 December 2023

----- Start of picture text -----
c
----- End of picture text -----

8 Financial instruments

The carrying amount of the entity's financial instruments at 31 December were:

2023 2022
£ £
Financial assets held at fair value 5,160,148 5,345,929
Financial assets held at amortised cost 12,822 113,265
Financial liabilities held at amortised cost 1,421,846 965,591

Financial assets held at fair value comprise fixed asset investments and cash, for which market value is taken as fair value.

Income, expenses and changes in fair value relating to fixed asset investments are given in the Statement of Financial Activities.

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28

The Chartered Society of Physiotherapy Charitable Trust

NOTES TO THE FINANCIAL STATEMENTS (Continued)

Year ended 31 December 2023

c

9 Funds

Gains on At 31
At 1 January investment Inter-fund December
2023 Income Expenditure assets transfers 2023
£ £ £ £ £ £
Unrestricted funds
General fund 2,093,545 116,551 (1,016,099) 75,973 1,493 1,271,463
Restricted funds
Nancie Finnie
Research Fund		 1,830,917 40,777 (2,284) 34,101 - 1,903,511
Chartered Society of
Physiotherapy -
Regional 243,502 - - - - 243,502
Physiotherapy
Projects
Other restricted funds 1,493 (1,493)
Total restricted
funds		 2,074,419 40,777 (791) 34,101 (1,493) 2,147,013
Endowment funds
Mary Gibson Fund 325,638 - (648) 7,658 - 332,648
Total funds 4,493,602 157,328 (1,017,538) 117,732 - 3,751,124

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29

The Chartered Society of Physiotherapy Charitable Trust

NOTES TO THE FINANCIAL STATEMENTS (Continued)

Year ended 31 December 2023

c

9 Funds (continued)

Prior period
At 21 Gains on At 31
December investment Inter-fund December
2021 Income Expenditure assets transfers 2022
£ £ £ £ £ £
Unrestricted funds
General fund 2,698,665 101,482 (304,954) (401,648) - 2,093,545
Restricted funds
Nancie Finnie
Research Fund		 1,998,991 34,934 1,105 (204,113) - 1,830,917
Chartered Society of
Physiotherapy -
Regional 243,502 - - - - 243,502
Physiotherapy
Projects
Total restricted
funds		 2,242,493 34,934 1,105 (204,113) - 2,074,419
Endowment funds
Mary Gibson Fund 372,158 - (686) (45,834) - 325,638
Total funds 5,313,316 136,416 (304,535) (651,595) - 4,493,602

Unrestricted funds

Unrestricted funds comprise those funds which the Trustees are free to use in accordance with the charitable objects.

Restricted funds

Restricted funds are those funds which must be spent as income on the particular purposes specified by the donor.

Nancie Finnie Research Fund provides research into effective physiotherapy treatments for the relief of children suffering from brain damage or other mental or physical handicap at birth and the dissemination of the results to the public.

The Chartered Society of Physiotherapy Project Funds are restricted funds received from the CSP to fund Regional Physiotherapy Projects. As at 2023 these funds have not been committed to specific projects.

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30

c

The Chartered Society of Physiotherapy Charitable Trust

NOTES TO THE FINANCIAL STATEMENTS (Continued)

Year ended 31 December 2023

Endowment funds

Endowment funds represent those assets, which must be held permanently by the charity, principally investments. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included as unrestricted income.

The Mary Gibson Fund provides an annual award to supplements to amounts available for Physiotherapy Research Foundation.

Any capital gains or losses arising on the investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against the fund.

10 Analysis of net assets between funds

Current year
Investments
Current assets
Current liabilities
Non-current liabilities		 Unrestricted
£
Restricted
£
Endowment
£
2023
£
2,998,429
1,481,197
332,648
4,812,274
(431,804)
792,500
-
360,696
(1,023,278)
(125,484)
-
(1,148,762)
(271,884)
(1,200)
-
(273,084)
1,271,463
2,147,013
332,648
3,751,124
Prior period
Investments
Current assets
Current liabilities
Non-current liabilities		 Unrestricted
£
Restricted
£
Endowment
£
2022
£
3,428,812
1,449,981
325,638
5,204,431
(472,185)
726,947
-
254,762
(422,125)
(71,105)
-
(493,230)
(440,957)
(31,404)
-
(472,361)
2,093,545
2,074,419
325,638
4,493,602

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31

NOTES TO THE FINANCIAL STATEMENTS (Continued) Year ended 31 December 2023

The Chartered Society of Physiotherapy Charitable Trust

c

11 Prior period comparative Statement of Financial Activities

Income from:
Donations
Investments
Total
Expenditure on:
Charitable activities
Research
Education
Innovation
Total
Gains on investment assets
Net (expenditure) / income
Transfers between funds
Net movement in funds
Total funds carried forward		 Unrestricted
funds
Restricted
funds
Endowment
funds
Total
funds
2022
2022
2022
2022
£
£
£
£
13,823
-
-
13,823
87,659
34,934
-
122,593
101,482
34,934
-
136,416
(164,363)
1,105
(686)
(163,944)
(121,082)
-
-
(121,082)
(19,509)
-
-
(19,509)
(304,954)
1,105
(686)
(304,535)
(401,648)
(204,113)
(45,834)
(651,595)
(605,120)
(168,074)
(46,520)
(819,714)
-
-
-
-
(605,120)
(168,074)
(46,520)
(819,714)
2,093,545
2,074,419
325,638
4,493,602

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32

c

The Chartered Society of Physiotherapy Charitable Trust

NOTES TO THE FINANCIAL STATEMENTS (Continued)

Year ended 31 December 2023

12 Related party transactions

Related party transactions
2023 2022
£ £
Value of Services provided by the Chartered Society of Physiotherapy
(CSP) to the Charity 129,999 126,023
Grants paid to the CSP by the Charity 11,900 233,563
Amounts owed to the CSP by the Charity at year end 110,854 94,136

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33