**Charity registration number 1200735**
**CLEARING HOUSE FOR POSTGRADUATE COURSES IN CLINICAL PSYCHOLOGY**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 JULY 2024**
## **CLEARING HOUSE FOR POSTGRADUATE COURSES IN CLINICAL PSYCHOLOGY**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** M Ballham Dr C Lomax Dr G Richardson Dr T Isherwood M Byrne (Appointed 20 March 2024) **Charity number** 1200735 **Registered office** Clearing House Worsley Building Room 10.47 Leeds West Yorkshire United Kingdom LS2 9NL **Independent examiner** Sedulo London Limited Office 605 Albert House 256 - 260 Old Street London United Kingdom EC1V 9DD
## **CLEARING HOUSE FOR POSTGRADUATE COURSES IN CLINICAL PSYCHOLOGY**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 12|
## **CLEARING HOUSE FOR POSTGRADUATE COURSES IN CLINICAL PSYCHOLOGY**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 JULY 2024**_
The trustees present their annual report and financial statements for the year ended 31 July 2024.
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 constitution, the Charities Act 2011 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)" (effective 1 January 2019).
## **Objectives and activities**
The objectives of the charity is to advance the science and profession of Clinical Psychology through its main activities of providing a system for processing applications to postgraduate professional training in clinical psychology and by supporting relevant research.
## _Public benefit_
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Although the charity's activities for generating income are generally the same year on year, the Trustees consider that these are for the public benefit. In particular, the provision of a system for processing applications assists with the training of clinical psychologists who will ultimately work with the public. In addition, when the Trustees give consideration to supporting relevant research, they will take into account the Charity Commission's guidance on public benefit.
## **Achievements and performance**
## _Significant activities and achievements against objectives_
The Clearing House provides a clearing system for applications to postgraduate professional training programmes in clinical psychology and supports relevant research. The Clearing House facilitates the training of clinical psychologists who in turn provide services, both during training and once qualified, to the more disadvantaged in society.
5,603 applications were processed through to clinical psychology programmes to fill 1,164 NHS-funded clinical psychology training places. The Clearing House continues to gather data on completion of training and employment of clinical psychology graduates. The national non-completion rate for NHS-funded trainees was only 0.7% of people in training during the 2022/ 2023 academic year. For people completing NHS-funded training in 2023 who returned data, 94.0% had started work as a clinical psychologist or in an equivalent role within 12 months.
The Clearing House continues to invest in our new website, initially launched in September 2022. The website is the fundamental IT tool underpinning the Clearing House’s work, and it involves considerable work and cost for the Clearing House, both maintaining it for all our users and developing it for everyone’s benefit.
New developments available to our users during the year included:
- an autosave function for referees.
- applicants being able to view their uploaded documents within their application pdf in the same way that University staff assessing their applications see them.
- changes to the order and structure of the application pdf as requested by University staff.
- more flexibility for University staff to include or exclude data from their application pdfs.
- the expectation is that the new site will continue to evolve to meet the changing needs of users, through development work over the next few years.
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## **CLEARING HOUSE FOR POSTGRADUATE COURSES IN CLINICAL PSYCHOLOGY**
## **TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2024**_
## **Financial review**
In respect of its charitable function as a clearing house for postgraduate professional training in clinical psychology, the charity received unrestricted income of £295,252. This income arose from registration fees and course centre fees.
The expenditure incurred in the year was £194,686. This all relates to charitable activities and is inclusive of support and governance costs. Whilst there was no expenditure on research projects during the current year, the Trustees continue to consider potential projects.
In the year ended 31 July 2024, the Clearing House had net income of £100,566 on its charitable activities.
On 1 August 2023, the charity received the transfer of assets from the old unincorporated charity at a value of £422,514.
## _Reserves policy_
On 31 July 2024, the charity had general reserves of £396,458 which are unrestricted and available for use at the discretion of the Trustees in the furtherance of the general objectives of the charity.
During the year, the Trustees agreed to designate funds annually towards the cost of the next online application re-build. In 2023-2024, an amount of £20,000 was transferred to the designated fund.
During the year, the Trustees have reviewed the reserves policy. Plans are being created to spend down these reserves in the form of providing a subsidy on application fees alongside the expected increased costs of maintaining the new application website. We are also looking at invitations to bid for research grants in 2025-2026.
## **Structure, governance and management**
The Clearing House became a Charitable Incorporated Organisation (CIO) on 18 October 2022 and de-registered the old unincorporated entity (charity number 1018336).
The newly formed charity (CIO) became operational on 1 August 2023 and all assets and liabilities were transferred on this date from the old charity. The charity is governed by its constitution dated 25 June 2021.
The trustees who served during the year and up to the date of signature of the financial statements were:
M Ballham
Dr C Lomax Dr G Richardson Dr T Isherwood M Byrne (Appointed 20 March 2024)
## _Recruitment and appointment of trustees_
The Board of Management currently consists of five members nominated by the Group of Trainers in Clinical Psychology (GTiCP). Board members are normally expected to serve for a period of three years and are eligible for re-nomination.
## _Decision making_
The charity is controlled by a Board of Management, the members of which are the charity's trustees.
The function of the Board of Management is to conduct the administration and management of the Clearing House. This includes the appointment of a manager who is directly responsible for the day to day duties associated with delivering its services. The manager in the year under review and as at the date of this report, is Sarah Newman. Meetings of the Board of Management take place at least twice a year and one or two representatives of the Pre-qualification Group of the DCP may be invited to attend and to contribute to such meetings. These representatives do not act as Trustees and do not have voting rights.
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## **CLEARING HOUSE FOR POSTGRADUATE COURSES IN CLINICAL PSYCHOLOGY**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2024**_
The trustees' report was approved by the Board of Trustees.
Dr C Lomax **Trustee**
27 February 2025
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## **CLEARING HOUSE FOR POSTGRADUATE COURSES IN CLINICAL PSYCHOLOGY**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF CLEARING HOUSE FOR POSTGRADUATE COURSES IN CLINICAL PSYCHOLOGY**
I report to the trustees on my examination of the financial statements of Clearing House for Postgraduate Courses in Clinical Psychology (the charity) for the year ended 31 July 2024.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe 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 financial statements do not accord with those records; or
- 3 the financial statements 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 financial statements to be reached.
Emma Houghton FCCA **Sedulo London Limited**
Office 605 Albert House 256 - 260 Old Street London EC1V 9DD United Kingdom
Dated: 24 March 2025
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## **CLEARING HOUSE FOR POSTGRADUATE COURSES IN CLINICAL PSYCHOLOGY**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 JULY 2024**_
|||**Unrestricted**|
|---|---|---|
|||**funds**|
|||**2024**|
||**Notes**|**£**|
|**Income from:**|||
|Charitable activities|**2**|295,252|
|Other material income|**3**|422,514|
|**Total income**||717,766|
|**Expenditure on:**|||
|Charitable activities|**4**|194,686|
|**Total expenditure**||194,686|
|**Net income and movement in funds**||523,080|
|**Reconciliation of funds:**|||
|Fund balances at 1 August 2023||-|
|**Fund balances at 31 July 2024**||523,080|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 12 form part of these financial statements.
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## **CLEARING HOUSE FOR POSTGRADUATE COURSES IN CLINICAL PSYCHOLOGY**
## **BALANCE SHEET**
## _**AS AT 31 JULY 2024**_
|**Notes**
**Fixed assets**
Intangible assets
**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**
**Net assets**
**The funds of the charity**
Unrestricted funds|**2024**
**£**
1,322
416,986
418,308
(1,850)|**£**
106,622
416,458|
|---|---|---|
|||523,080|
|||523,080|
|||523,080|
|||523,080|
The notes on pages 7 to 12 form part of these financial statements.
The financial statements were approved by the trustees on 27 February 2025
Dr C Lomax
**Trustee**
- 6 -
## **CLEARING HOUSE FOR POSTGRADUATE COURSES IN CLINICAL PSYCHOLOGY**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 JULY 2024**_
## **1 Accounting policies**
## **Charity information**
Clearing House for Postgraduate Courses in Clinical Psychology is a Charitable Incorporated Organisation.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, 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.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **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.
## **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 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.
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## **CLEARING HOUSE FOR POSTGRADUATE COURSES IN CLINICAL PSYCHOLOGY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2024**_
## **1 Accounting policies**
**(Continued)**
Amortisation 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:
## Software
20% straight line
## **1.7 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).
## **1.8 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.
## **1.9 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.
## _**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.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
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## **CLEARING HOUSE FOR POSTGRADUATE COURSES IN CLINICAL PSYCHOLOGY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2024**_
## **2 Income from charitable activities**
||**Applications**|
|---|---|
||**2024**|
||**£**|
|Registration fees|189,492|
|Course centre fees|105,760|
||295,252|
|**Analysis by fund**||
|---|---|
|Unrestricted funds|295,252|
## **3 Other material income**
On 1st August 2023, the operations of Clearing House for Postgraduate Courses in Clinical Psychology (charity no: 1018336) were transferred to the CIO. On this date, the net assets of £422,514 were transferred for £nil consideration.
## **4 Expenditure on charitable activities**
||**Applications**|
|---|---|
||**2024**|
||**£**|
|**Direct costs**||
|Staff costs|102,801|
|Depreciation and impairment|26,347|
|University management fees|14,466|
|Professional insurance|1,563|
|Office accommodation charges|3,300|
|IT support|34,789|
|Miscellaneous expenses|393|
|Bank charges|6,084|
||189,743|
|**Share of support and governance costs (see note 5)**||
|Governance|4,943|
||194,686|
|**Analysis by fund**||
|Unrestricted funds|194,686|
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## **CLEARING HOUSE FOR POSTGRADUATE COURSES IN CLINICAL PSYCHOLOGY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2024**_
## **5 Support costs allocated to activities**
|Governance costs
**Analysed between:**
Applications
**Governance costs comprise:**
Audit fees
Legal and professional
Consultancy fees
Board expenses
**6**
**Net movement in funds**
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
Amortisation of intangible assets|**2024**
**£**
4,943|
|---|---|
||4,943|
||**2024**
**£**
2,100
1,200
1,063
580|
||4,943|
||**2024**
**£**
2,100
26,347|
## **7 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **8 Employees**
The average monthly number of employees during the year was:
||**2024**|
|---|---|
||**Number**|
|Administrative|1|
|Clerical|1|
|Agency|1|
|Total|3|
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## **CLEARING HOUSE FOR POSTGRADUATE COURSES IN CLINICAL PSYCHOLOGY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2024**_
|**8**|**Employees**|**(Continued)**|
|---|---|---|
||**Employment costs**|**2024**|
|||**£**|
||Administrative|60,257|
||Clerical|18,245|
||Agency|24,299|
|||102,801|
All employees were employed by the University of Leeds and their costs recharged to the charity.
There were no employees whose annual remuneration was more than £60,000.
## **9 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **10 Intangible fixed assets**
|**Cost**
At 1 August 2023
Additions - separately acquired
At 31 July 2024
**Amortisation and impairment**
At 1 August 2023
Amortisation charged for the year
At 31 July 2024
**Carrying amount**
At 31 July 2024
**11**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income|**Software**
**£**
-
132,969|
|---|---|
||132,969|
||-
26,347|
||26,347|
||106,622|
||**2024**
**£**
18
1,304|
||1,322|
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## **CLEARING HOUSE FOR POSTGRADUATE COURSES IN CLINICAL PSYCHOLOGY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2024**_
## **12 Creditors: amounts falling due within one year**
Accruals and deferred income
**2024 £** 1,850
## **13 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 August**|**Incoming**|**Resources**|**Transfers At**|**31 July 2024**|
|---|---|---|---|---|---|
||**2023**|**resources**|**expended**|||
||**£**|**£**|**£**|**£**|**£**|
|Designated Fund: Online||||||
|Application System|-|-|-|106,622|106,622|
|Designated Fund: New Online||||||
|Application Build|-|-|-|20,000|20,000|
|General funds|-|717,766|(194,686)|(126,622)|396,458|
||-|717,766|(194,686)|-|523,080|
## **14 Related party transactions**
There were no disclosable related party transactions during the year ( - none).
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