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2025-03-31-accounts

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

Companies House Registered No. 518344; Charity Commission Registered No. 273724; Office of Scottish Charity Regulator No. SC041191

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TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
CONTENTS Page
Trustees’ report 3
Independent auditor’s report 31
Consolidated statement of financial activities 36
Charity statement of financial activities 37
Balance sheet 38
Consolidated statement of cashflows 39
Notes to the financial statements 40

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ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

ANNUAL REPORT 2024-2025

Message from the CEO

Steve Jamieson

This year has seen the RCSLT deliver tangible, member-focused achievements across all areas of our strategic plan. Our commitment to quality practice was evident in the breadth and depth of co-produced clinical guidance, including six new publications and wide-ranging consultation through surveys and focus groups. We published important updates on dementia, AAC and eating, drinking and swallowing (EDS) and continued to develop new areas of guidance through significant engagement with members.

Our workforce development programme has supported SLTs across all career stages from student to advanced practitioners. Highlights include the launch of our Inspire Leadership Programme, expansion of virtual learning resources and a revised NQP framework built with and for our members. The ROOT (RCSLT Online Outcomes Tool) surpassed 100,000 episodes of care, reinforcing our impact in clinical outcomes.

We launched and expanded member-facing platforms like SLT Voices and the new Clinical Excellence Network (CEN) directory, improving access to peer learning and professional networking. Our 80th anniversary celebrations reminded us of the deep history and bright future of the profession we support.

Financial sustainability and digital transformation were key organisational priorities. We completed our move to cloud infrastructure, improved cyber resilience and enhanced business continuity. These were to enable greater membership engagement benefits such as an improved website and the ability to actively participate in numerous professional development programmes/webinars. Despite external financial pressures, we maintained prudent reserves and continued to invest in areas that matter most to our members and the people they support.

I am proud of what we’ve achieved this year and remain committed to amplifying the voice of our members and securing a stronger future for speech and language therapy. Finally, I would like to extend my heartfelt thanks to all those members across the UK who have made me feel so welcome during my visits to your services. I am constantly

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in awe of the incredible work and the profound impact on service users and their families. Please note I will always ensure this wonderful profession receives the recognition and support it truly deserves.

Personal message from the chair

Irma Donaldson

It is an honour to be writing my first message as Chair of the RCSLT Board of Trustees. Stepping into this role in the RCSLT’s 80th year has given me an even deeper appreciation for the history, impact and potential of our profession.

Over the past year, I’ve been inspired by the energy and dedication shown by our members and by the RCSLT team’s focus on equity, innovation and impact. As Chair, my priority is clear: I want to raise the profile of speech and language therapy and bring our community of professionals closer together—across settings, sectors and stages of career.

The work already underway to embed belonging, diversity and intersectionality into our structures is something I am passionate about. We will continue to build a more inclusive and visible profession—one where everyone feels connected and empowered.

Looking ahead to 2025-26, I am excited by the RCSLT’s forward-looking plans. From shaping the delivery of the new Equity, Diversity and Belonging Strategy, to embedding recent education and workforce reforms, our focus will be on ensuring SLTs are equipped, valued and heard.

Thank you to all members for your continued contribution. Together, we will champion speech and language therapy in new and powerful ways.

The RCSLT five-year vision 2022-2027

The RCSLT’s charitable purposes are stated in the Articles of Association as: "to promote for the public benefit the art and science of speech and language therapy, meaning the care for individuals with communication, swallowing, eating and drinking difficulties".

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The RCSLT Strategic Plan breaks into three main areas: the mission , the purpose and the focus areas for how we achieve the mission and vision.

Mission :

Enabling better lives for people with communication and swallowing needs.

Purpose :

We are the professional body that promotes excellence in speech and language therapy.

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Table one: The RCSLT's focus areas 2022-2027

To see the full vision: https://www.rcslt.org/news/the-rcslt-strategic-vision-20222027/

027/
Focus area Areas of strategic focus
QUALITY
PRACTICE		 Co-production: we will embed co-production with
service users and their families and carers across
all aspects of our work
Innovation and excellence in research and
clinical practice: we will build the speech and
language therapy evidence base and delivery of
best practice in collaboration with service users
Workforce development: we will support the
growth and development of the speech and
language therapy workforce
INNOVATIVE
ORGANISATION		 Member engagement: we will empower members
to lead the profession
Organisational excellence: the RCSLT is
recognised as an excellent organisation
ACTIVE
INFLUENCING		 Equality, diversity and belongingwe will promote
greater equality, diversity and belonging and
embed anti-racism within the profession and in
service provision
Profile and opportunity: we will champion the
value and impact of speech and language therapy
within society

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FOCUS AREA: QUALITY PRACTICE

Co-production

Our commitment to co-production with service users, families and carers continued to underpin our work throughout 2024–25. Key achievements included:

Innovation and excellence in research and clinical practice

We published three clinical guidance documents on:

We completed the scoping phase for ten new guidance areas, supported by 14 memberscoping workshops and eight surveys. Topics included:

We hosted two webinars on EDS with acknowledged risks, attracting over 1,000 registrations. One member consultation on the draft guidance also took place.

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We ran five stakeholder surveys assessing the impact of existing guidance on:

We published three academic papers, collectively downloaded over 2,500 times.

Our research team presented nationally and internationally, receiving two awards:

The RCSLT Online Outcomes Tool (ROOT) surpassed 100,000 episodes of care, with new fields focusing on health inequalities. In March, we hosted a ROOT user event with 99% of delegates who completed our evaluation rating the event excellent or good.

We influenced two major research funding calls. One commissioned over £2 million into stroke communication support and early language development. The second, now active, is funding research into the impact of discontinuing thickened fluids for adults with dysphagia.

Workforce development

During 2024–25, NHS England funded a strategic programme supporting education reform across the allied health professions (AHPs), with a focus on increasing workforce supply, improving career development pathways and boosting retention and job satisfaction. RCSLT led the delivery of an ambitious suite of workstreams spanning the full SLT career journey—from early career promotion and Newly Qualified Practitioner (NQP) goals, to advanced practice. Member engagement and co-production were embedded throughout.

The NQP goals and guidance project exemplified high-quality co-production, involving hundreds of SLTs and future users. This inclusive approach resulted in a flexible, future-

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ready framework designed to support professional transitions at all stages, not just entry-level practice.

The advanced practice workstream highlighted the value of cross-professional collaboration. Partnering with the Royal College of Occupational Therapists (RCOT), RCSLT co-developed outputs that challenge traditional medical models and support AHPs in accessing advanced roles. Joint presentations at the NHS England conference showcased this pioneering approach.

Final communications and dissemination planning is now underway to ensure these outputs are embedded and have lasting impact across the profession.

We continued to promote our Professional Development Framework (PDF) through events across the UK and a four-part webinar series. Achievements included:

The framework is being used to support updates to the Newly Qualified Practitioner (NQP) process and curriculum review. An evaluation has commenced.

We expanded our virtual learning resources for students and NQPs. New content included:

Survey results showed strong satisfaction:

We also released 54 learning scenarios aligned with the PDF's domains of practice.

Our new Inspire Leadership Programme launched in 2024 with 122 applicants for 18 places. Developed with Real Healthcare Solutions Ltd., the programme focused on self-

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awareness, team support and professional leadership. The blended format included online and in-person learning, culminating in a project-sharing event.

We accredited six SLT courses, including two apprenticeships: four new and two reaccreditations:

We awarded £20,000 in minor grants for CPD. Improvements included revised Terms of Reference, updated panel guidance and a standardised induction for panel members.

FOCUS AREA: INNOVATIVE ORGANISATION

Member engagement

In 2024, we conducted a member survey completed by over 3,000 individuals. The valuable insights gathered have directly shaped our engagement strategy for 2024–25, with a focus on strengthening the RCSLT member value proposition.

We launched "RCSLT Connect," a new series of in-person events designed to foster networking and communication across the profession. Seven face-to-face events took place across the UK, attracting over 700 attendees in total.

Our online events on key topics, including Eating and Drinking with Acknowledged Risks, the Student to NQP Day and the IJLCD lecture, each drew hundreds of participants.

Our Chief Executive continued his nationwide visits to better understand the challenges faced by the profession. He visited 11 member sites during 2024–25.

We hosted the RCSLT Awards ceremony in Birmingham, where we recognised:

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To enhance networking and CPD, we launched a new Clinical Excellence Network (CEN) directory and resources on how to set up and run a CEN. This section quickly became one of the top 10 most visited areas on our website. We now have 98 active CENs covering over 50 clinical specialisms.

We responded to over 7,000 member enquiries by email, phone and post. We supported:

In September, we launched "SLT Voices," a new digital space on our website. This platform features contributions from SLTs, healthcare leaders, service users and experts, offering valuable perspectives on professional development. The section continues to grow in popularity.

To mark our 80th anniversary in January 2025, we celebrated the impact of the profession through:

Our student engagement work has delivered measurable impact. We conducted 17 direct outreach sessions with university cohorts, compared with eight the previous year. As a result:

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Organisational excellence

Financially sustainable

As part of our income diversification strategy, we are letting the ground floor office space. Last summer, we conducted a comprehensive review of our contracts to enhance value for money, streamline operations and improve overall business efficiency.

Technology and digital infrastructure

We have completed the transition from on-site server infrastructure to cloud-based solutions, covering all finance and operational systems. This move reduces our reliance on self-managed physical infrastructure and has enhanced data security, system resilience, reporting and accessibility. The transition also represents a significant reduction in organisational risk by strengthening business continuity practices and minimising the likelihood of downtime or data loss associated with outdated legacy systems. In line with this, our Disaster Recovery procedures have been reviewed and updated to reflect the new IT environment and adjusted risk profile.

FOCUS AREA: ACTIVE INFLUENCING

Equity, diversity and belonging

In 2024, the RCSLT undertook a comprehensive review of our equality, diversity and inclusion approach, evolving it into a focus on Equity, Diversity and Belonging. A codesigned workshop in July 2024 brought together EDB networks, trustees and the Executive Team to co-create a more inclusive future. Insights from this session shaped the EDB Strategy 2025–2027, which was published in March 2025. The strategy centres on belonging, intersectionality, systemic advocacy and accountability and was coproduced with member networks to embed EDB values across the profession.

The Nominations Committee continued work to improve the diversity of RCSLT’s governance resulting in a younger cohort of applicants compared to the current Board membership and a proportionately higher number of applicants from a BME background when compared to the current Board. Twenty applications were received for trustee and committee roles. Two new trustees and six new committee members were appointed at the November 2024 AGM. Incoming Chair Irma Donaldson is working

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with the Nominations Committee to explore new feedback mechanisms. In March 2025, trustees and the Executive Team participated in a strategic workshop to align operational planning with the new EDB Strategy.

A new induction programme launched in November 2024, welcoming new trustees and committee members. The Nominations Committee continues to enhance the governance experience and inclusion.

In partnership with the SLT Pride Network, we joined Birmingham Pride to support LGBTQIA+ members and service users, while raising awareness of the continued inequalities they face.

We published guidance authored by neurodivergent SLTs to help colleagues act as allies in the workplace. The resource promotes inclusion, workforce retention and recognition of the unique strengths of neurodivergent professionals.

Creating profile and opportunity

Our third Vacancy and Recruitment Survey further highlighted workforce challenges and continued to inform media, policy and planning conversations.

In collaboration with Speech & Language UK and Voice 21, we hosted a roundtable for the Commission on the Future of Oracy Education. A joint paper was submitted, advocating for a more inclusive definition of oracy. The final report reflected our recommendations, including references to children with speech, language and communication needs (SLCN).

Our early years report in Northern Ireland, We Are the Village , received a foreword from the Children’s Commissioner, significant media attention and ongoing policy engagement.

We chaired NHS England’s national webinar on LeDeR (Learning from the Lives and Deaths of People with a Learning Disability and Autistic People), attended by 550 allied health professionals. The event also promoted the reasonable adjustment digital flag.

VoiceBox, our communication awareness competition, was hosted for the first time at the Scottish Parliament, sponsored by the Presiding Officer. It welcomed finalists from 26 local authorities, including Shetland and Orkney, with 46 MSPs participating in a photo call.

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In Northern Ireland, we co-produced the new Buddy Chat classroom resource with children, adults and teachers.

The Wales State of the Nation report generated substantial media and political traction.

In Northern Ireland, the government funded our Language Launchpad early years initiative, which will be embedded in the SEN transformation plan and reach thousands of children.

Our petition led Invest in SLT campaign in partnership with service user advocates, led to a parliamentary debate and continued dialogue with the Health Minister.

We secured a UK Government commitment to work with RCSLT on revisions to the Mental Health Act Code of Practice.

RCSLT input influenced the Modernisation Committee’s recommendations to improve accessibility in the Westminster Parliament.

We were invited by the National Audit Office to provide evidence to their SEN support inquiry. The final report echoed our key messages around workforce, early intervention and system-wide solutions.

In Wales, we played a prominent role in a government summit on SLCN within the youth justice system.

Our joint Children Won’t Wait campaign with NHS England led to a ministerial meeting and a commitment to a three-year children’s community services transformation programme.

The SEND in the Specialists campaign strengthened our relationship with the Department for Education, which now proactively seeks RCSLT input.

We successfully advocated for changes to NHS England’s autism guidance to safeguard the role of SLTs in diagnostic assessments.

As part of the COVID-19 Airborne Transmission Alliance, we supported the UK COVID19 Inquiry with evidence on airborne transmission and the profession’s pandemic role. We also gave evidence to the Scottish COVID Inquiry on the impact on children’s communication and waiting times.

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We partnered with Wiltshire Farm Foods to host a dysphagia dining experience, highlighting the role of SLTs in supporting people with eating and swallowing difficulties. The event received media attention and was praised by attendees for restoring confidence in dining out and building community.

We produced 20 podcasts covering topics from artificial intelligence to DLD, with over 20,000 downloads globally and a 4.8/5 rating on Apple Podcasts.

RCSLT’s media presence remained strong, with peaks in mentions and impressions driven by high-profile stories on:

Our e-newsletters consistently reached over 21,000 members with open rates of 50– 59%. High-engagement topics included:

Social Media

FUTURE PLANS

While continuing our annual operating plans in support of the five-year vision, we are setting the foundations for our new three-year strategic plan, which is scheduled to launch in early 2027.

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RISK STATEMENT

The RCSLT has a robust risk management framework. Major risks to which the RCSLT is exposed are contained in a separate risk register, which is informed by the five-year vision. The current highest-level risks are shown in the table below:

Table two : Higher-level risks to the RCSLT (those risks with a mitigated risk score of 10 or above in accordance with the risk management framework, which are borderline risk appetite or greater and which require reporting to committees and Board ).

Risk Mitigation
Poor performance of
investment assets due to
external factors could lead to
actual losses if investments
needed to be realised.		 Investments are recorded at market value,
monthly reports to management, ongoing
monitoring by Epoch (investment advisers) with
quarterly reports to the Finance and Resources
Committee and Board. Regular review of
investment strategy to ensure that it fits with long-
term goals of the charity and that risk capacity is
appropriate.
Inflation erodes the value of
reserves, make it difficult to
recruit and retain staff and
otherwise result in increased
costs.		 Regular review of forecasts and five-year financial
projections. Discretionary spending to be
managed in the light of inflation.

The RCSLT Executive Team reviews the risk register in depth on a quarterly basis; all project working groups and steering committees maintain their own risk registers and the highest-level risks from those registers are included in the main risk register. The Finance and Resources Committee, the Professional Practice and Policy Committee and the Nominations Committee further review their own risk registers at their regular meetings. The Board reviews all risks that are owned by the Board quarterly and signs off the whole risk register annually. The Board is satisfied that appropriate controls are in place to manage risks.

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FINANCIAL REVIEW

The overall aim of RCSLT’s financial strategy is to maintain a sound financial base to support the resourcing of the organisation and deliver its mission. Specifically, the aim is to maintain long-term financial viability in order to achieve the objectives in the fiveyear vision.

The overarching financial objectives for the RCSLT were approved by the Board in March 2022.

Objective Performance
To ensure that the organisation
has financial models which
support strategic goals.		 Achieved: There is a rigorous budget setting and
monitoring
process
through
appropriate
governance systems and good management of
investments.
That funds and reserves are
invested prudently (low to
medium risk).		 Achieved: Ongoing monitoring of the portfolios
by the investment adviser.
To maintain free reserves which
represent 6-10 months of
anticipated operating costs.		 Achieved: 6.6 months’ of anticipated operating
costs (2024: 6.8 months’).
Maintain minimum cash in hand
of 1.5 months’ anticipated
operating costs.		 Achieved: 1.4 months (2024: 1.7 months in hand).
Cash in hand includes monies held in instant
access deposit accounts.(Note: this is a snapshot
as at balance sheet date – throughout the FY, 30
days or more cash was kept in hand)
Membership income should not
exceed 85% of total group income		 Achieved: 84% (2023-2024: 85%)
To generate an annual surplus
before investment gains/losses of
at least 3% of income.		 Not achieved: Net deficit of 6% of income (2023-
2024: net deficit of 7% of income).

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Financial performance for the year

The RCSLT’s overall financial position declined in 2024-2025. The net deficit before investment gains and losses was £607,000 (2023-2024: deficit £368,000) and the Group’s total movement in net funds saw a decrease of £553,000, summarised as follows:

2025 2024
£’000 £’000
Net surplus/(deficit) before investment gains and
losses		 (607) (368)
Net investment gains 54 280
Gain/(loss) on revaluation of property - (636)
------------------- -------------------
Net movement in funds (553) (724)
========= =========

The RCSLT reported income of £6,071,000 in 2024-2025, representing an increase of 5% on the income of £5,790,000 in 2023-2024.

Where money comes from 2025 2024
£’000 % £’000 %
Donations & legacies 3 - 3 -
Grants - - 3 -
Membership subscriptions 5,075 84 4,746 82
Other charitable activities 349 6 321 6
Other trading activities 497 8 567 10
Investments 147 2 150 2
------------------ ------------------
Total Income 6,071 100 5,790 100
========= =========

Membership income is the principal funding source for the charity accounting for 84% of total income. Average numbers of practising members increased by 3.7%. Additional income is earned from other charitable and commercial activities and investments.

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Where the money is spent 2025 2024
£’000 % £’000 %
Raising Funds 395 6 393 6
Charitable Activities
Quality Practice 3,250 48 2,924 47
Innovative Organisation 1,051 16 1,020 17
Active Influencing 1,982 30 1,821 30
------------------ ------------------
Total Charitable Activities 6,283 94 5,765 94
----------------- ------------------
Total Expenditure 6,678 100 6,158 100
========= =========

Overall expenditure has increased by nearly 8% compared to 2023-24 including significant spend on NHS England funded projects. Expenditure on raising funds amounted to £395,000, up 1% on 2023-2024. £393,000 of this relates to the cost of commercial trading operations with a further £2,000 attributable to investment management fees. The RCSLT does not engage in any public fundraising activities.

Expenditure on charitable activities amounted to £6,283,000 in 2024-2025, an increase of 9% on 2023-2024, with increased spend on staffing, projects and overheads.

Financial position at 31 March 2025

At 31 March 2025, the RCSLT had net assets of £7,958,000, a decrease of £553,000 from the position at 31 March 2024.

Tangible and intangible fixed assets have reduced by £423,000 in 2024-25 reflecting the transfer of 10% of the property at White Hart Yard to Investments (£370,000).

Investments have increased by £439,000 during 2024-2025, reflecting the inclusion of part of the property at White Hart Yard to investments.

Cash balances have decreased by £292,000 since 31 March 2024 with a £439,000 net deficit on operating activities (2023-2024 net deficit: £567,000) due to a high level of project spend, offset by income from dividends and interest received of £147,000 (20232024: £150,000).

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Reserves policy

The Board of Trustees has agreed an overall reserves policy encompassing restricted funds and unrestricted funds. Unrestricted funds are further divided into designated funds, revaluation reserve and general funds. Restricted funds represent those monies given to the charity for a particular purpose and were not available for the general purpose of the charity. Designated funds represent those funds set aside for major projects which do not form part of the day-to-day activities of the charity. The revaluation reserve reflects the revaluation gain on the freehold property. The balance will be increased or decreased by any subsequent loss on freehold property and the depreciation on freehold property attributable to the revalued amount.

The Board of Trustees has agreed a reserves policy whereby free reserves representing 6-10 months of anticipated operating costs must be held. Free reserves are those net assets held in the form of cash or investments after taking account of any restricted or designated funds. The Board believes that in the unlikely event of a winding up of the charity the equivalent of 6-10 months of operating costs would be sufficient to allow the charity to meet its obligations to its members, staff and other creditors.

The level of reserves required is reviewed annually by the Board of Trustees and informs the fee setting process and preparation of the annual budget. The required and forecast levels of reserves are submitted to the Board for approval via the Finance and Resources Committee.

The total charity reserves at 31 March 2025 were £7,958,000 (2024: £8,511,000) of which £255,000 (2024: £491,000) related to restricted funds and to the reserves of CSLT (Trading) Ltd and were not available for the general purpose of the charity.

Note 17 of the accounts shows the various restricted funds or reserves by type and summarises the year’s movements on each fund.

Note 18 shows the unrestricted funds by type and summarises the year’s movements on each fund.

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In setting the reserves, the Board has identified specific designated reserves: approved project spend for 2025/26 of £606,000 (2024: £503,000); fixed assets which are held for operational purposes totalling £1,126,000 (2024: £1,285,000); and an innovation fund of £486,000 (2024 £561,000) for spending on future projects to support delivery of the Five Year Vision as well as responding to member needs as they arise.

Other unrestricted funds amounted to £5,485,000 (2024: £5,671,000). After taking account of the revaluation reserve of £2,214,000 (2024: £2,478,000) the charity considers it has free reserves of £3,271,000 (2024: £3,193,000). The level of free reserves held by the Charity represents 6.7 months’ (2024: 6.8 months’) anticipated operating costs, within the target range of 6-10 months; these funds, as well as the innovation fund, will enable the long-term funding of projects in line with the implementation of the Five Year Vision. The level of free reserves held by the Group represents 6.6 months’ (2024: 6.8 months’) anticipated operating costs.

Investment policy and performance

In March 2021, the Board approved a revised statement of investment principles and revised supporting investment policies, with the overall aim to generate a total return of approximately CPI + 2% p.a. net of fees. The Board approved an ethical investment policy seeking constructive engagement with the corporate world with negative screening for direct investments in companies that derive 10% or more of their revenues from the production of tobacco, alcoholic drinks and armaments. The investment portfolio is divided into three sub-components, comprising a short-term cash portfolio, a mediumterm low volatility portfolio and a long-term growth portfolio. The overall risk profile is “cautious to balanced” although the individual sub-components vary in risk when viewed in isolation. Based on the assessment of long-term strategic plans the Board approved, in December 2021, the restructuring of the overall portfolio between a long-term growth portfolio of approximately £2.9 million and a medium-term low volatility portfolio of approximately £0.5 million. The restructuring took effect in Summer 2022 with £500,000 moved to a portfolio managed by Ruffer LLP. The long-term portfolio is managed by Waverton Investment Managers Limited.

Unrealised gains of £54,000 were achieved compared to unrealised gains of £280,000 in 2023-2024. The No 1 Portfolio achieved a total return of 3.7% for the year ended 31 March 2025 against a target return of 5.6%. The performance over the five-year period

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to 31 March 2025 was 55.3% compared to a target return of 44.2%. The Ruffer portfolio achieved a total return of 4% for the year ended 31 March 2025 against a target return of 2.6%.

LEGAL AND ADMINISTRATIVE INFORMATION

The Charity is known as the Royal College of Speech and Language Therapists (the RCSLT); Charity Commission registered number 273724. It is a registered charity in Scotland, registered number SC041191. The RCSLT is also a company limited by guarantee, registered number 518344 and therefore has no share capital. In the event of its winding up, the members' liability is limited to £1 per member. The Memorandum and Articles of Association, which were last amended at an AGM on 9 November 2021, govern the RCSLT. It has a trading arm, known as CSLT Trading Limited; registered number 0268820.

Charitable objectives and intended impact

The RCSLT was established on 6 January 1945. Its object is to promote for the public benefit the art and science of speech and language therapy, meaning the care for individuals with communication, swallowing, eating and drinking difficulties. It is the professional body providing leadership and setting professional standards for SLTs in the UK. It facilitates and promotes research into the field of speech and language therapy, promotes better education and training of SLTs and provides information for members and the public about speech and language therapy.

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Patron HRH The Duchess of Edinburgh
President Nick Hewer
Honorary Vice President Lord Shinkwin, Lord Bradley and Baroness
Whitaker
Registered Office 2 White Hart Yard
London
SE1 1NX
Auditors HaysMac LLP
10 Queen Street Place
London
EC4R 1AG
Bankers National Westminster Bank
Liverpool Street Station
250 Bishopsgate
London
EC2M 4AA
Solicitors Camerons Solicitors LLP
27A Harley Place
London
W1G 8LZ
Investment Managers Waverton Investment Management Ltd
16 Babmaes Street
London
SW1Y 6AH
Ruffer LLP
80 Victoria Street
London SW1E 5JL
Investment Advisors Epoch Consulting
Queen Square House
Queen Square Place
Bath
BA1 2LL
Membership and Information 020 7378 3010/3011
Switchboard 020 7378 1200

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GOVERNANCE STRUCTURE

The Board of Trustees (the Board) is the highest governing body of the RCSLT. There are four subordinate governing committees: the Finance and Resources Committee, the Professional Practice and Policy Committee, the Nominations Committee and the Honours Committee.

In addition, hub forums, whose purpose is to engage with members in each UK country, advise the Board, but are not governing committees. See below for more details on committees and hubs.

The trustees are also the legal directors of the charitable company and their role is primarily to ensure good governance of the organisation. They also provide appropriate representation of the views of members at a strategic level on the Board and take account of the financial and business implications of any decisions they make. The trustees conduct regular horizon scanning and have a comprehensive strategic plan containing high-level objectives, which is kept under regular review at each Board meeting. Typically this strategic plan covers a three-year period although an extended five-year plan was agreed in 2022 in response to uncertainties arising from the covid pandemic.

The role of the chief executive and staff members is to implement these objectives. The governance structure is shown below.

----- Start of picture text -----
Board of Trustees
Finance and Professional
Nominations
Resources Practice and
Committee
Committee Policy Committee
----- End of picture text -----

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Board of Trustees

Currently, 14 trustees make up the Board. The role of the Board is to:

The committees report to the Board. The CEO and Executive Team attend the Board to provide input as necessary. The Board meets four times per year.

During FY 2024-2025, the Board members were:

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Appointment of members of the Board of Trustees

Applications for trustees are sought by advertisement. Applicants are required to complete a short application form and attend a selection panel chaired by the deputy chair to ensure candidates fully understand the role and responsibilities of a trustee prior to appointment. Lay members have a formal interview. The trustees' terms of office (with the exception of the chair/deputy chair) are three years, with the option to stand for re-election for a further three years. The chair/deputy chairs' terms of office are two years in each role. The Articles allow for a Chair of our Finance and Resource Committee (also appointed as trustee) and other members as the Board of Trustees requires. They also provide for co-opted lay members, with or without voting rights. Selection panels will make recommendations for trustee appointments to the Nominations Committee who in turn will make recommendations to the Board for their approval. In addition, the Articles require the ratification of trustee appointments at the next annual general meeting. Trustees newly elected to the Board of Trustees during the period received a comprehensive induction pack, which contains reading material concerning both general trustee and governance issues provided by the Charity Commission and background material specific to the RCSLT. They are required to participate in formal induction sessions at which they receive briefings on general governance matters and finances and investments. They also are invited to attend a Board of Trustees meeting as observers prior to them taking up their duties. The Nominations Committee reviews the training needs of Trustees and Committee members and ensures that appropriate ongoing training is provided.

Committee structure

Finance and Resources Committee (FRC)

The FRC is responsible to the Board for overseeing all matters of finance, investments, contracting and tendering, risk management (FRC elements), HR, buildings and facilities, IT infrastructure including cyber and data security, health and safety, membership administration and heritage work. It has delegated powers up to approved limits to commit expenditure, to arrange for the investment of assets and approve policies and makes recommendations to the Board for other matters as set out in the Board's scheme of delegation. It meets four times a year.

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Professional Practice and Policy Committee (PPPC)

The PPPC considers and makes recommendations upon matters relating to professional practice, standards, policy and public affairs and ensures that the perspective of members and service users in the four UK nations is taken into account in the development and pursuit of the strategic aims and objectives of the RCSLT and in supporting the Board.

The PPPC debates current and future cross-cutting issues in sufficient depth to inform policy decisions by the Board. In the process of consideration, discussion and debate, the PPPC consults with other RCSLT committees and groups and with the wider membership. It meets four times a year.

Nominations Committee

The Nominations Committee is accountable to the Board for the strategic oversight of the RCSLT’s trustee and committee member selection and induction processes. The Committee ensures that the RCSLT’s commitment to diversity and equality of opportunity is embedded in its governance recruitment arrangements and ensures a diversity of talents and backgrounds is actively sought and reflected in the RCSLT’s governance membership.

Honours Committee

The Honours Committee normally meets once a year and makes recommendations to the Board regarding awards, fellowships, honorary fellowships and suggestions for national honours.

RCSLT hubs

The RCSLT has hubs across the UK. The RCSLT hubs are a platform for members to engage with each other at a local level. The hubs provide:

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The RCSLT executive

The officers employed by the RCSLT are committed to the provision of a high-quality service to its members and the public. The officers are based at White Hart Yard in London. The head of country officers for Wales, Northern Ireland and Scotland are based in the countries they represent.

Executive team

Chief Executive – Steve Jamieson

Director of Policy and Public Affairs – Derek Munn

Director of Finance and Resources and Company Secretary – Karen Willis

Director of Communications and People – Cara McDonagh

Director of Professional Development – Judith Broll

Statement of policy on remuneration for key management personnel

The policy of the Board is to report the remuneration of trustees, CEO and the executive team. The trustees are not remunerated; the employers of the chair and the deputy chair, in their second year of office, are remunerated under contract to take account of the considerable time commitment of the chair and deputy chair to the charity. The executive team is remunerated according to a fixed salary scale, with the exception of the CEO, whose salary is determined upon successful performance as measured by key indicators.

Relationships between the RCSLT and related parties

The RCSLT is a member of the Allied Health Professions Federation (AHPF) to maximise cooperation in the sector where this increases impact. The RCSLT is a member of the International Association of Communication Science and Disorders.

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The RCSLT works with a range of other partners and stakeholders across research, health, education, social care and justice sectors in the pursuit of its charitable objectives. This includes charities and organisations, such as the Health and Care Professions Council and Unite the Union.

Where appropriate, we form or join informal partnerships, such as Communication Access UK and the Community Rehabilitation Alliance. The RCSLT also develops working relationships with officials to influence government and system policy relating to the development of services to people with communication and swallowing needs and the future of the profession in providing these services.

Statement of responsibilities of the Board

Company law requires the trustees (who are the directors of the company for the purposes of the Companies Act 2006 and the charitable trustees) to prepare accounts for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the group as at the balance sheet date and of the incoming resources and application of resources, including income and expenditure, for the financial year of the group. In preparing those financial statements, the trustees are required to:

Trustees are responsible for maintaining proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the accounts comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006.

They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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Statement on public benefit

The trustees consider that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission in reviewing the RCSLT’s activities and in planning its future priorities. The public benefits resulting from the activities of the RCSLT are various, from the benefits that members receive from being part of a group promoting best practice and sharing experiences of speech and language therapy, to the beneficiaries of those therapists in improved understanding and delivery of their work. We also seek to inform policy in the UK, ensuring the widest possible benefits to all. The various aspects of public benefit are contained within the sections above on the focus areas of the RCSLT and our upcoming work in each of those areas.

Indemnity provisions

Qualifying third party indemnity provisions are in force for the directors throughout the year and remain in force. Under the RCSLT’s policy, qualifying third party indemnity provisions are also in force currently and throughout the year for the directors of the fully-owned subsidiary, CSLT (Trading) Ltd.

Application of the Charity Governance Code

The trustees are committed to the principles of the Charity Governance Code in the ongoing governance of the RCSLT and the development of the Board of Trustees.

Audit information

So far as each of the directors at the time the trustees' report is approved is aware:

Signed:

Irma Donaldson

Irma Donaldson

Chair of the Board, on behalf of the trustees

Date: 09.07.2025

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ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS – Companies House Reg. No. 00518344

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

Opinion

We have audited the financial statements of Royal College of Speech and Language Therapists for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, the Charity Statement of Financial Activities, the Group and Charity Balance Sheet, the Consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

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Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report (which incorporates the strategic report and the directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charity Accounts (Scotland) Regulations (as amended) requires us to report to you if, in our opinion:

Responsibilities of trustees for the financial statements

Along with the responsibilities laid out in the governance structure statement on page 25, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group’s and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

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Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the group and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to those standard to UK charitable companies and we considered the extent to which noncompliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, Charities Act 2011, Charity Accounts (Scotland) Regulations (as amended), Charities and Trustee Investment (Scotland) Act 2005, corporation tax, payroll tax and sales tax.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries to revenue and management bias in accounting estimates. Audit procedures performed by the engagement team included:

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Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is

located on the Financial Reporting Council’s website at:

www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

………………………………………………………

Kathryn Burton (Senior Statutory Auditor) For and on behalf of HaysMac LLP, Statutory Auditor London

10 Queen Street Place

EC4R 1AG

10th July 2025

Date: ……………………………………………

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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

(Incorporating an Income and Expenditure account)

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted Unrestricted Total Funds Total Funds
Note Other Designated Restricted
Funds Funds Funds 2025 2024
£’000 £’000 £’000 £’000 £’000
Income and endowments
Donations and legacies 1 - 2 3 3
Grants - - - - 3
Charitable activities 3 5,161 - 263 5,424 5,067
Other trading activities 4 497 - - 497 567
Investments 6 147 - - 147 150
-------------------- -------------------- -------------------- -------------------- --------------------
Total income and endowments 5,806 - 265 6,071 5,790
-------------------- -------------------- -------------------- -------------------- --------------------
Expenditure
Raising funds 7 395 - - 395 393
Charitable activities 8 5,353 500 430 6,283 5,765
-------------------- -------------------- -------------------- -------------------- --------------------
Total expenditure 5,748 500 430 6,678 6,158
-------------------- -------------------- -------------------- -------------------- --------------------
Net income/(expenditure) before
gains/(losses) on investments		 58 (500) (165) (607) (368)
Net gains/(losses) on investments 14 54 - - 54 280
-------------------- -------------------- -------------------- -------------------- --------------------
Net income/(expenditure) before 112 (500) (165) (553) (88)
transfers
Transfers between funds (369) 369 - - -
-------------------- -------------------- -------------------- -------------------- --------------------
Net income/(expenditure) after (257) (131) (165) (553) (88)
transfers
Other recognised gains and
losses
Loss on revaluation of property for
own use		 - - - - (636)
-------------------- -------------------- -------------------- -------------------- --------------------
Net movement in funds (257) (131) (165) (553) (724)
Fund balances brought forward 5,830 2,349 332 8,511 9,235
-------------------- -------------------- -------------------- -------------------- --------------------
Fund balances carried forward 5,573 2,218 167 7,958 8,511
=========== =========== =========== =========== ===========
(Note 18) (Note 18) (Note 17) (Note 25)

All gains and losses arising in the year are included in the Statement of Financial Activities and arise from continuing activities.

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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

CHARITY STATEMENT OF FINANCIAL ACTIVITIES

(Incorporating an Income and Expenditure account)

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted Unrestricted Total Funds Total Funds
Note Other Designated Restricted
Funds Funds Funds 2025 2024
£’000 £’000 £’000 £’000 £’000
Income and endowments
Donations and legacies 155 - 2 157 287
Grants - - - - 3
Charitable activities 3 5,161 - 263 5,424 5,067
Other trading activities 116 - - 116 114
Investments 145 - - 145 148
-------------------- -------------------- -------------------- -------------------- --------------------
Total income and endowments 5,577 - 265 5,842 5,619
-------------------- -------------------- -------------------- -------------------- --------------------
Expenditure
Raising funds 95 - - 95 92
Charitable activities 8 5,353 500 430 6,283 5,765
-------------------- -------------------- -------------------- -------------------- --------------------
Total expenditure 5,448 500 430 6,378 5,857
-------------------- -------------------- -------------------- -------------------- --------------------
Net income/(expenditure) before
gains/(losses) on investments		 129 (500) (165) (536) (238)
Net gains/(losses) on investments 14 54 - - 54 280
-------------------- -------------------- -------------------- -------------------- --------------------
Net income/(expenditure) before 183 (500) (165) (482) 42
transfers
Transfers between funds (369) 369 - - -
-------------------- -------------------- -------------------- -------------------- --------------------
Net income/(expenditure) after (186) (131) (165) (482) 42
transfers
Other recognised gains and
losses
Loss on revaluation of property for
own use		 - - - - (636)
-------------------- -------------------- -------------------- -------------------- --------------------
Net movement in funds (186) (131) (165) (482) (594)
Fund balances brought forward 5,671 2,349 332 8,352 8,946
-------------------- -------------------- -------------------- -------------------- --------------------
Fund balances carried forward 5,485 2,218 167 7,870 8,352
=========== =========== =========== =========== ===========
(Note 18) (Note 17) (Note 26)

All gains and losses arising in the year are included in the Statement of Financial Activities and arise from continuing activities.

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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

BALANCE SHEET

AT 31 MARCH 2025

AT 31 MARCH 2025
Group Charity
2025 2024 2025 2024
Note £’000 £’000 £’000 £’000
Fixed assets
Tangible fixed assets 13 3,340 3,763 3,340 3,763
Investments 14 4,038 3,599 4,038 3,599
-------------------- -------------------- ------------------- -------------------
7,378 7,362 7,378 7,362
-------------------- -------------------- -------------------- --------------------
Current assets
Debtors 15 404 698 467 539
Cash at bank and in hand 366 317 181 285
Short-term deposits 439 780 439 780
-------------------- -------------------- -------------------- --------------------
1,209 1,795 1,087 1,604
Creditors: amounts falling
due within one year 16 (629) (646) (595) (614)
-------------------- -------------------- -------------------- --------------------
Net current assets 580 1,149 492 990
-------------------- -------------------- -------------------- --------------------
Net assets 7,958 8,511 7,870 8,352
=========== =========== =========== ===========
RESERVES
Restricted funds 17 167 332 167 332
Unrestricted funds 18
Designated funds 2,218 2,349 2,218 2,349
Other unrestricted funds
General funds 3,271 3,193 3,271 3,193
Revaluation reserve - property 2,214 2,478 2,214 2,478
Non charitable trading funds 88 159 - -
-------------------- -------------------- -------------------- --------------------
7,958 8,511 7,870 8,352
=========== =========== =========== ===========

The result of the parent Charity for the year was a deficit of £482,000 (2024: surplus £42,000).

The financial statements were approved and authorised for issue by the Board on and were signed below on its behalf by:

Irma Donaldson

Irma Donaldson Chair

Date: 09.07.2025

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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

CONSOLIDATED STATEMENT OF CASHFLOWS

FOR THE YEAR ENDED 31 MARCH 2025

OR THE YEAR ENDED 31 MARCH 2025
Total Total
Note 2025 2024
£’000 £’000
Operating activities 21 (439) (567)
--------------------- ---------------------
Investing activities
Dividends and interest received 147 150
Purchase of tangible fixed assets - -
Purchase of intangible fixed assets - -
------------------------- -------------------------
Net cash provided/(used) in investing
activities		 147 150
------------------------- -------------------------
Change in cash and cash equivalents in the (292) (417)
year
Cash and cash equivalents at the beginning of
the year		 22 1,097 1,514
------------------------ ------------------------
Cash and cash equivalents at the end of the
year		 22 805 1,097
=========== ===========

There is nil net debt (2024: £nil). No separate cashflow statement has been prepared for the Charity alone as permitted by section 1 of FRS102.

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

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared under the historical cost convention, with the exceptions of investments and freehold land and buildings, which are included at fair market value. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) Second Edition, the Financial Reporting Standard applicable in the UK and Ireland (FRS102) and the Companies Act 2006. They also comply with the reporting requirements of the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Charities Act 2011.

Judgements and estimates

Judgements and estimates have been used in making accounting estimates and their related disclosures as appropriate to achieve recognition, measurement or disclosure that is reasonable in the context of FRS102.

Estimates and judgements are continually evaluated and are based on historical experience and other factors including expectations of future events that are believed to be reasonable under the circumstances. During the year there are no accounting estimates or assumptions that have a significant risk of causing material adjustment to the carrying amounts of assets or liabilities within the next financial year.

Freehold land – the total value of the Charity’s land is estimated at £1,500,000 of which £1,350,000 is included in freehold land and buildings and £150,000 is included in Investments.

Freehold buildings - the total value of the Charity’s freehold property is estimated at £2,025,000 after transferring £225,000 to investment property, reflecting the transfer of 10% of the property to Investments. The freehold property is depreciated over 50 years.

The value of the investment property is estimated at £370,000.

Preparation of accounts on a going concern basis

The Charity reported a cash outflow for the year of £445,000 for the Charity and £292,000 on a group basis. The Charity holds free reserves after designating funds for projects, in the form of cash and investments, equivalent to 6.7 months’ operating costs. After having considered a range of possible outcomes on future income and expenditure and resultant cash flow forecasts for the next 16 months ended 31 July 2026 the trustees are of the view that the Charity is a going concern and there are no material uncertainties in relation to the Charity’s going concern.

Group financial statements

The statement of financial activities (SOFA) and balance sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds are unrestricted funds which have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

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

1. ACCOUNTING POLICIES (continued)

Income

Income is included in the SOFA when the Charity is legally entitled to the income, receipt is probable and the amount can be quantified with reasonable accuracy.

For legacies, entitlement is taken as the earlier of the date on which either: the Charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executors that a distribution will be made, or when a distribution is received from the estate. Receipt of legacy is only considered probable when the amount can be measured reliably and the Charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the Charity or the Charity is aware of the granting of probate and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Donations and grants, including capital grants, are included in income when these are receivable unless the donor has specified that the donation or grant relates to a future period or that certain pre-conditions must be fulfilled before use. In these cases the amount received is treated as deferred income. Donations and grants for particular purposes are included in income as restricted funds.

Royalties are included in income on an accruals basis.

Expenditure

Expenditure is included in the SOFA on an accruals basis. Expenditure attributable to more than one activity is apportioned across cost categories on the basis of the estimated time spent by staff on those activities.

Cost of raising funds is those costs relating to the generation of income and include costs related to the commercial trading activity and the management of investments.

Costs of charitable activities are those costs relating to the activities carried out to meet the objectives of the Charity as approved by the Board of Trustees in the Strategic Plan. These include both directly attributable costs and apportioned support costs.

Support costs relate to those functions that assist the work of the Charity but do not directly undertake charitable activities. Support costs include administrative support, finance, personnel, general administrative and IT support, premises and governance and are apportioned on a basis considered appropriate to the underlying activities. The bases on which costs have been allocated are set out in note 9.

Pension costs

The Charity makes payments to a defined contribution pension scheme on behalf of all eligible employees. The cost of contributions for the year is shown in note 10. Contributions totalling £40,000 were outstanding at the end of the year (2024: £35,000).

Operating leases

The company classifies the lease of printing equipment and short-term accommodation as operating leases. Title to the printing equipment remains with the lessor. Rental changes are charged on a straight line basis over the term of the lease.

41

RCSLT TAR & Accounts COMBINED_2024-25_ FINAL

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

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

1. ACCOUNTING POLICIES (continued)

Financial instruments

The Charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other accounts receivable and payable.

Debt instruments that are payable or receivable within one year, being trade and other payables and trade and other receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.

Financial assets that are measured at cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the SOFA. Any impairment loss is measured as the difference between an asset’s carrying amount and recoverable amount.

Stocks

Stock is valued at the lower of cost and net realisable value after making due allowance for obsolete or slow moving items.

Tangible fixed assets

Individual tangible fixed assets costing more than £2,500 are capitalised at cost.

Tangible fixed assets are depreciated at rates calculated to write off the cost of each asset over its anticipated useful life at the following rates:

Freehold building 2% per annum Computer equipment 33.3% per annum Office furniture and equipment 20% per annum

Assets under development or construction are not depreciated until brought into operational use.

Freehold land and buildings are recognised at a valuation arrived at by an external valuer in accordance with the guidelines issued by the Royal Institution of Chartered Surveyors. Properties are formally revalued at least on an every five-year’s basis.

Freehold land and buildings occupied by tenants are reported in Investments.

The freehold land and buildings at White Hart Yard were revalued by BGW McDaniel, Chartered Surveyors, as at 31 March 2024 on the basis of open market value.

All upward revaluation adjustments are held in the revaluation reserve. Downward revaluation adjustments as a result of consumption of economic benefits are charged to the SOFA. Other downwards revaluations are taken to the revaluation reserve to the extent of previous upwards revaluations and thereafter charged to the SOFA. Transfers are made annually between the revaluation reserve and the unrestricted general fund to reflect depreciation attributable to the revalued element of the buildings.

42

RCSLT TAR & Accounts COMBINED_2024-25_ FINAL

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

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

1. ACCOUNTING POLICIES (continued)

Intangible fixed assets

Individual intangible fixed assets costing more than £50,000 are capitalised at cost.

Intangible fixed assets are depreciated at rates calculated to write off the cost of each asset over its anticipated useful life at the following rate:

Software development 33.3% per annum

Assets under development or construction are not depreciated until brought into operational use.

Investments

Investments are included at market value at the year end.

2. COMPANY STATUS

The Charity is a company limited by guarantee. The members of the company are the members of RCSLT. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the RCSLT.

3. CHARITABLE ACTIVITIES

2025 2024
£’000 £’000
Subscriptions 5,075 4,746
Services to Federation of Allied Health Professional Bodies 69 96
Events - 40
Sundry income 280 185
------------------- -------------------
5,424 5,067
=========== ===========

4. OTHER TRADING ACTIVITIES

2025 2024
£’000 £’000
Commercial trading operations 475 543
Corporate membership (universities) 21 19
Room hire 1 5
Sundry - -
------------------- -------------------
497 567
=========== ===========

43

RCSLT TAR & Accounts COMBINED_2024-25_ FINAL

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

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

5. COMMERCIAL TRADING OPERATIONS

The wholly owned trading subsidiary CSLT (Trading) Limited, which is incorporated in England and Wales, pays all its taxable profits to the Charity by gift aid. CSLT (Trading) Limited publishes the Bulletin on behalf of the RCSLT and receives royalties in respect of publications.

The Charity owns the entire issued share capital of 2 ordinary shares of £1 each. A summary of the trading results is shown below:

Summary Profit and Loss Account 2025 2024
£’000 £’000
Turnover
Advertising 261 304
Royalties 209 229
Sponsorship Income 5 10
-------------------- --------------------
475 543
-------------------- --------------------
Cost of Sales
Bulletin 269 269
International Journal of Language and Communication
Disorders		 24 25
---------------------- ----------------------
293 294
-------------------- --------------------
Gross Profit 182 249
Administration expenses (101) (97)
Interest payable - -
Interest Receivable 2 2
------------------ ------------------
Net profit before transfers to Charity 83 154
Amount gifted to Charity (154) (284)
------------------ ------------------
Movement in equity (71) (130)
========= =========

Administration expenses include £94,000 (2024: £90,000) charged by the Charity to CSLT (Trading) Limited in respect of staff costs and attributable overheads

44

RCSLT TAR & Accounts COMBINED_2024-25_ FINAL

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

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

5. COMMERCIAL TRADING OPERATIONS (continued)

2025 2024
£’000 £’000
The assets and liabilities of the subsidiary were:
Current assets 268 424
Creditors: amounts falling due within one year (180) (265)
------------------- -------------------
Total net assets 88 159
========= =========
Represented by:
Aggregate share capital and reserves - -
Retained profit in the subsidiary 88 159
------------------ ------------------
Aggregate share capital and reserves 88 159
========= =========

The administration expenses are included in costs of generating funds in the Consolidated Statement of Financial Activities.

6. INVESTMENT INCOME

2025 2024
£’000 £’000
Listed investments 99 110
Short-term deposits 30 22
Bank interest 13 18
Rental Income 5 -
------------------ ------------------
147 150
========= =========

7. RAISING FUNDS

Costs incurred in raising funds were:

Costs incurred in raising funds were:
Activities
undertaken Support
directly Costs 2025
£’000 £’000 £’000
Investment management fees 2 - 2
Commercial trading operations 374 19 393
------------------- ------------------ -------------------
376 19 395
=========== =========== ===========

45

RCSLT TAR & Accounts COMBINED_2024-25_ FINAL

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

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

7. RAISING FUNDS (continued)

Comparative figures were:
Activities
undertaken Support
directly Costs 2024
£’000 £’000 £’000
Investment management fees 2 - 2
Commercial trading operations 372 19 391
------------------- ------------------ -------------------
374 19 393
=========== =========== ===========

8. CHARITABLE ACTIVITIES

Activities
undertaken Support
directly Costs 2025
£’000 £’000 £’000
Quality practice 2,199 1,051 3,250
Innovative organisation 733 318 1,051
Active influencing 1,371 611 1,982
----------------------- --------------------- -----------------------
4,303 1,980 6,283
=========== ========== ===========

Expenditure on charitable activities reflects the focus areas set out in the Strategic Plan 2022-2027 approved by the Board.

Comparative figures were:
Activities
undertaken Support
directly Costs 2024
£’000 £’000 £’000
Quality practice 1,902 1,022 2,924
Innovative organisation 704 316 1,020
Active influencing 1,213 608 1,821
----------------------- --------------------- -----------------------
3,819 1,946 5,765
=========== ========== ===========

46

RCSLT TAR & Accounts COMBINED_2024-25_ FINAL

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

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

9. ANALYSIS OF SUPPORT COSTS

Basis of Raising Quality Innovative Active
allocation Funds Practice Organisation Influencing 2025
£’000 £’000 £’000 £’000 £’000
Support staff costs Headcount - 462 140 269 871
Other staff costs Headcount 3 87 26 50 166
General admin costs
Headcount		 2 61 18 35 116
Premises Headcount 4 95 29 56 184
IT and comms Headcount 6 149 45 87 287
Finance Headcount 1 35 10 20 66
Governance Headcount 3 65 20 38 126
Irrecoverable VAT Actual costs - 97 30 56 183
----------------------- ----------------------- ---------------------- ---------------------- ----------------------
19 1,051 318 611 1,999
=========== =========== =========== =========== =========
Comparative figures were:
Basis of Raising Quality Innovative Active
allocation Funds Practice Organisation Influencing 2024
£’000 £’000 £’000 £’000 £’000
Support staff costs Headcount - 451 140 268 859
Other staff costs Headcount 3 77 24 46 150
General admin costs
Headcount		 1 44 13 26 84
Premises Headcount 4 96 30 57 187
IT and comms Headcount 6 147 45 88 286
Finance Headcount 2 46 14 27 89
Governance Headcount 3 78 24 47 152
Irrecoverable VAT Actual costs - 83 26 49 158
----------------------- ----------------------- ---------------------- ---------------------- ----------------------
19 1,022 316 608 1,965
=========== =========== =========== =========== ===========

47

RCSLT TAR & Accounts COMBINED_2024-25_ FINAL

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

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

10. ANALYSIS OF REMUNERATION

2025 2024
£’000 £’000
Salaries and wages 3,377 3,007
Social security costs 374 335
Pension costs 461 428
Staff employed by other organisations 18 15
Temporary staff costs 36 128
------------------------ ------------------------
Total staff costs 4,266 3,913
============ ============
The number of higher paid employees was:
2025 2024
No. No.
£60,001 - £70,000 6 8
£70,001 - £80,000 4 2
£80,001 - £90,000 1 4
£90,001 - £100,000 3 -
£120,001 - £130,000 - 1
£150,001 - £160,000 1 -

Pension costs are allocated to activities in proportion to the related staffing costs incurred and are charged to designated, restricted and unrestricted funds as appropriate.

Reimbursement was made to the employers of 2 (2024: 2) trustees under the provisions of the Memorandum and Articles of the charity totalling £22,000 (2024: £24,000) in respect of the time spent by those trustees on charity business. No other trustees were paid or received any benefits from employment with the charity or its subsidiary in the year. Payments during the year were:

2025 2024
£’000 £’000
Hertfordshire Community NHS Trust – in respect of Irma
Donaldson, Deputy Chair, from 1 November 2023 to 8 October 2024		 6 4
Hertfordshire Community NHS Trust – in respect of Irma
Donaldson, Chair, from 9 October 2024 - present		 6 -
The University of Manchester – in respect of Dr Sean Pert, Chair,
from 6 October 2022 to 9 October 2024		 10 20
--------------------- ---------------------
Total reimbursement to employers of trustees 22 24
========== ==========

Expenses totaling £24,000 (2024: £26,000) relating to 13 (2024: 11) trustees were reimbursed in the year. These related to travel and incidental costs incurred in carrying out their duties.

The key management personnel of the parent charity, RCSLT, comprise the trustees, the CEO and the other members of the senior management team. The total benefits of the key management personnel of the Charity were £662,000 (2024: £599,000).

Payments arising from the termination of contracts of employment totalling £58,000 (2024: £nil) were made during the year.

48

RCSLT TAR & Accounts COMBINED_2024-25_ FINAL

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

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

11. STAFF NUMBERS

The average monthly number of employees and the average monthly number of full-time equivalents (including ex-officio directors) employed by the group during the year were:

2025 2024
No. No.
Raising funds 1 1
Quality practice 32 27
Innovative organisation 8 8
Active influencing 22 22
Support 11 10
------------- -------------
Actual 74 68
======= =======
2025 2024
No. No.
Raising funds 1 1
Quality practice 27 24
Innovative organisation 8 8
Active influencing 15 15
Support 11 10
------------- -------------
Full-time equivalents 62 58
======= =======

The subsidiary CSLT (Trading) Ltd had nil employees (2024: nil). A recharge of £77,000 (2024: £73,000) was made to CSLT (Trading) Ltd in respect of staff costs attributable to CSLT (Trading) Ltd.

12. NET INCOME/EXPENDITURE FOR THE YEAR

Net income/expenditure for the year are stated after charging:

Net income/expenditure for the year are stated after charging:
2025 2024
£’000 £’000
Depreciation of tangible assets 53 63
Audit fee (Group) 23 21
Non-audit fees (Group) 2 2
Rental charge payable in respect of operating leases 4 4
Indemnity insurance 2 2
============ ============

49

RCSLT TAR & Accounts COMBINED_2024-25_ FINAL

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

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

13. TANGIBLE FIXED ASSETS

All tangible assets relate to the Charity and are used for charitable purposes.

Group and Charity
Office
Freehold Land Furniture and Computer
and Buildings Equipment Equipment Total
£’000 £’000 £’000 £’000
Cost or valuation
At 1 April 2024 3,750 30 60 3,840
Additions - - - -
Disposals - - (27) (27)
Transfer to Investments (375) - - (375)
------------------------ -------------------- --------------------- ------------------------
At 31 March 2025 3,375 30 33 3,438
------------------------ -------------------- --------------------- ------------------------
Depreciation
At 1 April 2024 - 30 47 77
Charge for the year 45 - 8 53
Disposals - - (27) (27)
Transfer to Investments (5) - - (5)
------------------------ -------------------- --------------------- ------------------------
At 31 March 2025 40 30 28 98
--------------------- -------------------- -------------------- ----------------------
Net book value
At 31 March 2025 3,335 - 5 3,340
============ ========= ========= ============
At 31 March 2024 3,750 - 13 3,763
============ ========= ========== ============

The property was revalued at its open market value at 31 March 2024 by BGW McDaniel, Chartered Surveyors. The depreciated historical cost of the property was £1,121,000.

10% of the freehold property at White Hart Yard is occupied by a commercial tenant and accordingly the carrying value of £370,000 is reported in Investments.

50

RCSLT TAR & Accounts COMBINED_2024-25_ FINAL

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

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

14. INVESTMENTS

Movement in investments during the period was:

Group and Charity
Listed
Cash Investments Property Total
£’000 £’000 £’000 £’000
At Market Value
At 31 March 2024 13 3,586 - 3,599
Investment income earned 83 - - 83
Investment income reinvested - 16 - 16
Investment income transferred (84) - - (84)
to main bank account
Gain on revaluation - 54 - 54
Transfer from Freehold - - 370 370
Property
------------------------ ------------------------ ------------------------ ------------------------
At 31 March 2025 12 3,656 370 4,038
============ ============ ============ ============
Historical cost 12 3,235 370 3,617
============ ============ ============ ============

15. DEBTORS

Group Charity
2025 2024 2025 2024
£’000 £’000 £’000 £’000
Trade debtors 40 340 19 15
Subsidiary undertaking - - 147 232
Prepayments and accrued
income		 337 338 274 273
Other debtors 27 20 27 19
-------------------- -------------------- -------------------- --------------------
404 698 467 539
========== ========== ========== ==========

51

RCSLT TAR & Accounts COMBINED_2024-25_ FINAL

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

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

16. CREDITORS: amounts falling due within one year

Group Charity
2025 2024 2025 2024
£’000 £’000 £’000 £’000
Trade creditors 143 107 143 107
Accruals and deferred
income		 288 349 254 317
Taxation and social security 134 132 134 132
Other creditors 64 58 64 58
-------------------- -------------------- -------------------- --------------------
629 646 595 614
========== ========== ========== ==========

Deferred income represents subscriptions received in advance of the annual renewal on 1 April and other income received in advance.

Group and Charity
2025 2024
£’000 £’000
At 1 April 47 52
Amounts received in
advance of annual renewal 56 40
of membership
Other amounts received in
advance		 16 4
Amounts released to
Statement of Financial (47) (52)
Activities
-------------------- --------------------
At 31 March 72 47
========== ==========

52

RCSLT TAR & Accounts COMBINED_2024-25_ FINAL

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

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

17. RESTRICTED FUNDS

At 31 March At 31 March
2024 Income Expenditure Transfers 2025
£’000 £’000 £’000 £’000 £’000
1 Enid Wechsler Welfare 121 - (3) - 118
Fund
2 Catherine Renfrew Fund 2 - (1) - 1
3 Penny Harrison Fund 1 - - - 1
4 RCSLT Hubs Fund 10 - - - 10
5 Support Workers and
Clinical Placements		 3 - (1) - 2
6 Student Support Fund 6 - (6) - -
7 HEE Neonatal Project 4 - - - 4
8 John Wechsler Donation 10 - - - 10
9 NHSE Professional Bodies
Education Reform		 175 179 (354) - -
10 The National Lottery Grant - 20 - - 20
11 James Law Award - 1 - - 1
12 Early Years SLCN Project - 65 (65) - -
------------------ ----------------- ----------------- ----------------- ------------------
332 265 (430) - 167
========= ======== ======== ======== =========

53

RCSLT TAR & Accounts COMBINED_2024-25_ FINAL

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

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

17. RESTRICTED FUNDS (continued)

Comparative figures were:

At 31 March At 31 March
2023 Income Expenditure Transfers 2024
£’000 £’000 £’000 £’000 £’000
1 Welfare Fund 121 2 (2) - 121
2 Catherine Renfrew Fund 2 - - - 2
3 Penny Harrison Fund 1 - - - 1
4 RCSLT Hubs Fund 10 - - - 10
- My Journey, My Voice 5 - (5) - -
- Communication Access
Symbol		 1 - (1) - -
5 Support Workers and Clinical
Placements		 3 - - - 3
6 Student Support Fund 6 - - - 6
- HEE Dysphagia
Competencies		 1 - (1) - -
7 HEE Neonatal Project 20 3 (19) - 4
- HEE AHP Workforce Reform 49 - (49) - -
8 John Wechsler Donation 10 - - - 10
9 NHSE Professional Bodies
Education Reform		 - 179 (4) - 175
------------------ ----------------- ----------------- ----------------- ------------------
229 184 (81) - 332
========= ======== ======== ======== =========

54

RCSLT TAR & Accounts COMBINED_2024-25_ FINAL

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

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

17. RESTRICTED FUNDS (continued)

55

RCSLT TAR & Accounts COMBINED_2024-25_ FINAL

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

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

18. UNRESTRICTED FUNDS

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22		 At
31 March
2024
Income Expenditure
Investment
Gains/
Revaluation
Transfers
At
31 March
2025
£’000
£’000
£’000
£’000
£’000
£’000
Designated funds
Quality Practice
Outcome Measures Project
77
-
(59)
-
48
66
Professional Guidance
30
-
(49)
-
55
36
Learning Solutions and
Products
25
-
(17)
-
17
25
Research and
Development
37
-
(47)
-
42
32
CEN Engagement Work
57
-
(58)
-
1
-
Post Graduate Education &
Training
3
-
(3)
-
-
-
Innovative Organisation
Digital Strategy
110
-
(88)
-
133
155
Digital Transition
24
-
(53)
-
90
61
Equality, Diversity and
Belonging
3
-
(12)
-
26
17
Future Projects
66
-
-
-
12
78
Membership Survey
14
-
(8)
-
(6)
-
Innovation Fund
561
-
-
-
(75)
486
Feasibility Study
1
-
(1)
-
-
-
HR Projects
-
-
(7)
-
7
-
Content production
-
-
(2)
-
13
11
RCSLT 80th Anniversary
-
-
(10)
-
40
30
Active Influencing
PR Support
20
-
(18)
-
17
19
Communication Symbol
-
-
(18)
-
35
17
Workforce Planning
36
-
(28)
-
40
48
Leadership Development
-
-
(23)
-
34
11
ICS Consultancy
-
-
1
-
(1)
-
Other
Fixed Asset Fund
1,285
-
-
-
(159)
1,126
----------------------
----------------------
----------------------
----------------------
----------------------
----------------------
Designated funds
2,349
-
(500)
-
369
2,218
----------------------
----------------------
----------------------
----------------------
----------------------
----------------------
Other unrestricted funds
General funds
3,193
5,329
(5,448)
54
143
3,271
Revaluation reserve –
property
2,478
-
-
-
(264)
2,214
Non charitable trading
funds
159
477
(300)
-
(248)
88
----------------------
----------------------
----------------------
----------------------
----------------------
----------------------
Other unrestricted funds
5,830
5,806
(5,748)
54
(369)
5,573
----------------------
----------------------
----------------------
----------------------
----------------------
----------------------
----------------------
----------------------
----------------------
----------------------
----------------------
----------------------
8,179
5,806
(6,248)
54
-
7,791
===========
===========
===========
===========
===========
===========

56

RCSLT TAR & Accounts COMBINED_2024-25_ FINAL

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

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

18. UNRESTRICTED FUNDS (continued)

1
2
3
4
5
6
7
8
-
-
9
10
11
-
12
13
15
-
17
18
19
21
22		 Comparative figures were
At
31 March
2023
Income Expenditure
Investment
Gains/
Revaluation
Transfers
At
31 March
2024
£’000
£’000
£’000
£’000
£’000
£’000
Designated funds
Quality Practice
Outcome Measures Project
92
-
(89)
-
74
77
Professional Guidance
68
-
(92)
-
54
30
Learning Solutions and
Products
15
-
(17)
-
27
25
Research and
Development
28
-
(32)
-
41
37
CEN Engagement Work
49
-
(55)
-
63
57
Post Graduate Education &
Training
-
(43)
-
46
3
Innovative Organisation
Digital Strategy
120
-
(97)
-
87
110
Digital Transition
87
-
(37)
-
(26)
24
Giving Voice
3
-
-
-
(3)
-
Development of RCSLT
Hubs
5
-
-
-
(5)
-
Equality, Diversity and
Belonging
3
-
(1)
-
1
3
Future Projects
100
-
-
-
(34)
66
Membership Survey
5
-
(9)
-
18
14
Administrative Transition
41
-
(21)
-
(20)
-
Innovation Fund
675
-
-
-
(114)
561
Feasibility Study
-
-
(14)
-
15
1
Content Production
-
-
(7)
-
7
-
Active Influencing
Research Projects
-
-
(5)
-
5
-
PR Support
5
-
(23)
-
38
20
Communication Symbol
-
-
(1)
-
1
-
Workforce Planning
43
-
(9)
-
2
36
ICS Consultancy
-
-
(8)
-
8
-
Other
Fixed Asset Fund
1,323
-
-
-
(38)
1,285
----------------------
----------------------
----------------------
----------------------
----------------------
----------------------
Designated funds
2,662
-
(560)
-
247
2,349
----------------------
----------------------
----------------------
----------------------
----------------------
----------------------
Other unrestricted funds
General funds
2,917
5,061
(5,216)
280
151
3,193
Non charitable trading
funds
289
545
(301)
-
(374)
159
Revaluation reserve –
property
3,138
-
-
(636)
(24)
2,478
----------------------
----------------------
----------------------
----------------------
----------------------
----------------------
Other unrestricted funds
6,344
5,606
(5,517)
(356)
(247)
5,830
----------------------
----------------------
----------------------
----------------------
----------------------
----------------------
----------------------
----------------------
----------------------
----------------------
----------------------
----------------------
9,006
5,606
(6,077)
(356)
-
8,179
===========
===========
===========
===========
===========
===========

57

RCSLT TAR & Accounts COMBINED_2024-25_ FINAL

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

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

18. UNRESTRICTED FUNDS (continued)

58

RCSLT TAR & Accounts COMBINED_2024-25_ FINAL

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

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

19. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS

Unrestricted funds Restricted
Designated Other Funds 2025
£’000 £’000 £’000 £’000
Tangible fixed assets 1,126 2,214 - 3,340
Investments - 4,038 - 4,038
Current assets 1,111 (72) 170 1,209
Current liabilities (19) (607) (3) (629)
-------------------- ----------------------- ---------------- ----------------------
2,218 5,573 167 7,958
========== =========== ========= ===========
Comparative figures were:
Unrestricted funds Restricted
Designated Other Funds 2024
£’000 £’000 £’000 £’000
Tangible fixed assets 1,285 2,478 - 3,763
Investments - 3,599 - 3,599
Current assets 1,121 342 332 1,795
Current liabilities (57) (589) - (646)
-------------------- ----------------------- ---------------- ----------------------
2,349 5,830 332 8,511
========== =========== ========= ===========

20. OPERATING LEASE COMMITMENTS

At 31 March 2025 the Charity had commitments falling due under operating leases:

Land & Buildings Land & Buildings Equipment Equipment
2025 2024 2025 2024
£’000 £’000 £’000 £’000
<1 year 4 4 - -
1-5 years 15 18 - -
>5 years - 1 - -
--------------- --------------- --------------- ---------------
Total 19 23 - -
======== ======== ======== ========

59

RCSLT TAR & Accounts COMBINED_2024-25_ FINAL

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

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

21. NET CASH FLOW FROM OPERATING ACTIVITIES

2025 2024
£’000 £’000
Net incoming/(outgoing) resources (553) (88)
Adjustments for:
Depreciation of tangible fixed assets 53 63
(Gain)/loss on investments (54) (280)
Investment reinvested (15) -
Investment income (147) (150)
Investment management fee deducted from portfolio - 4
(Increase) in debtors 294 (241)
Increase/(decrease) in creditors (17) 125
--------------- ---------------
(439) (567)
======== ========

22. ANALYSIS OF CASH AND CASH EQUIVALENTS

2025 2024
£’000 £’000
Cash in hand 366 317
Notice deposits (less than three months) 439 780
---------------- ----------------
805 1,097
========= =========

23. RELATED PARTY TRANSACTIONS

In 2025, the following transactions took place between the Charity and its wholly owned subsidiary CSLT (Trading) Limited:

There are no other related party transactions during the year (2024 none).

24. CORPORATION TAXATION

The Charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

60

RCSLT TAR & Accounts COMBINED_2024-25_ FINAL

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

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

25. GROUP COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES 2023/24

Unrestricted Unrestricted Total Funds Total Funds
Note Other Designated Restricted
Funds Funds Funds 2024 2023
£’000 £’000 £’000 £’000 £’000
Income and endowments
Donations and legacies 1 - 2 3 130
Grants - - 3 3 134
Charitable activities 3 4,888 - 179 5,067 4,561
Other trading activities 4 567 - - 567 672
Investments 6 150 - - 150 96
-------------------- -------------------- -------------------- -------------------- --------------------
Total income and endowments 5,606 - 184 5,790 5,593
-------------------- -------------------- -------------------- -------------------- --------------------
Expenditure
Raising funds 7 393 - - 393 391
Charitable activities 8 5,124 560 81 5,765 5,540
-------------------- -------------------- -------------------- -------------------- --------------------
Total expenditure 5,517 560 81 6,158 5,931
-------------------- -------------------- -------------------- -------------------- --------------------
Net income/(expenditure) before
gains/(losses) on investments		 89 (560) 103 (368) (338)
Net gains/(losses) on investments 14 280 - - 280 (83)
-------------------- -------------------- -------------------- -------------------- --------------------
Net income/(expenditure) before 369 (560) 103 (88) (421)
transfers
Transfers between funds (247) 247 - - -
-------------------- -------------------- -------------------- -------------------- --------------------
Net income/(expenditure) after 122 (313) 103 (88) (421)
transfers
Other recognised gains and
losses
Loss on revaluation of property for
own use		 (636) - - (636) -
-------------------- -------------------- -------------------- -------------------- --------------------
Net movement in funds (514) (313) 103 (724) (421)
Fund balances brought forward 6,344 2,662 229 9,235 9,656
-------------------- -------------------- -------------------- -------------------- --------------------
Fund balances carried forward 5,830 2,349 332 8,511 9,235
=========== =========== =========== =========== ===========
(Note 18) (Note 18) (Note 17)

61

RCSLT TAR & Accounts COMBINED_2024-25_ FINAL

ROYAL COLLEGE OF SPEECH AND LANGUAGE THERAPISTS

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

26. CHARITY COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES 2023/24

Unrestricted Unrestricted Total Funds Total Funds
Other Designated Restricted
Funds Funds Funds 2024 2023
£’000 £’000 £’000 £’000 £’000
Income and endowments
Donations and legacies 285 - 2 287 348
Grants - - 3 3 133
Charitable activities 4,888 - 179 5,067 4,562
Other trading activities 114 - - 114 92
Investments 148 - - 148 95
-------------------- -------------------- -------------------- -------------------- --------------------
Total income and endowments 5,435 - 184 5,619 5,230
-------------------- -------------------- -------------------- -------------------- --------------------
Expenditure
Raising funds 92 - - 92 94
Charitable activities 5,124 560 81 5,765 5,540
-------------------- -------------------- -------------------- -------------------- --------------------
Total expenditure 5,216 560 81 5,857 5,634
-------------------- -------------------- -------------------- -------------------- --------------------
Net income/(expenditure) before
gains/(losses) on investments		 219 (560) 103 (238) (404)
Net gains/(losses) on investments 280 - - 280 (83)
-------------------- -------------------- -------------------- -------------------- --------------------
Net income/(expenditure) before 499 (560) 103 42 (487)
transfers
Transfers between funds (247) 247 - - -
-------------------- -------------------- -------------------- -------------------- --------------------
Net income/(expenditure) after 252 (313) 103 42 (487)
transfers
Other recognised gains and
losses
Loss on revaluation of property for
own use		 (636) - - (636) -
-------------------- -------------------- -------------------- -------------------- --------------------
Net movement in funds (384) (313) 103 (594) (487)
Fund balances brought forward 6,055 2,662 229 8,946 9,433
-------------------- -------------------- -------------------- -------------------- --------------------
Fund balances carried forward 5,671 2,349 332 8,352 8,946
=========== =========== =========== =========== ===========

62

RCSLT TAR & Accounts COMBINED_2024-25_ FINAL