Docusign Envelope ID 4FE6Ac8￿2slC496E.912D.DF87S2QDAcDD i<* Annual Report of Board of Trustees RC Royal College of Occupational •T Therapists 30 September 2024 Docusign Envelope ID 4FE6AC8B-251C-496E-912D-DF876290ACDD RCOT l Annual R•port of Trust••s Docusign Envelope ID 4FE6AC8B-251C-496E-912D-DF876290ACDD RCOT l Annual R•port of Trust••s Contents Introducing RCOT 4 What we'll do next 65 Trustees, report Principal risks and uncertainties 66 Report of the Chair of Board of Trustees 6 Structure. governance and management 68 Report of the Chief Executive Financial review 74 Our vision. strategy and values Statement of trustees, responsibilities 79 11 Independent auditor's report to members 81 Strategic report 15 Financial statement 86 Our year in numbers 16 Notes to the financial statement 90 l. Rise Up 19 Legal and administrative information 108 2. Open Up 37 3. Lift Up 45 4. Build Up 55 Docusign Envelope ID 4FF6A¢8￿25Ic-496E.gl2D.DF￿762g0AcDD RCOT l Annual R•port ofTrustees Introduein9 RCOT Introducing RCOT We're RCOT, the Royal College of Occupational Therapists. We've championed the profession and the people behind it for over 90 years: and today, we are thriving with over 36,000 members. We offer members opportunities to learn, research, teach, practice and continuouslv improve their occupational therapy knowledge and skills. We're the powerful advocate and high-profile champion thatthe UK'S occupational therapists deserve. We work with healthcare commissioners, political leaders and others to position occupational therapy as a solution at the heart of health and social care. DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Introduein9 RCOT Trustees, report, The trustees of the Royal College of Occupational Therapists IRCOTI present thei r annual report for the year ended 30 September 2024 under the Charities Act 2011 and the Companies Act 2006 (the '2006 Act'l. Our charitable objects (purposes) and public benef it The principal object for which RCOT is established is the promotion of the science of occupational therapy and the training, education and continuing development of occupational therapists in the UK. This report has been prepared in accordance with OLJr governing document and the Statement of Recommended Practice 'Accounting and Reporting by Charities,. Our legal status and governance structure is explained on page 68. In setting and developing its strategic plan, RCOT has given careful consideration to the public benefit, as it relates to its charitable purposes. Our vision is that at RCOT, everything we do is so that people everywhere value the life-changing power of occupational therapy. Our fi've-year strategy, launched in 2022, is designed to grow understanding and enhance the profile of occupational therapy, attract more people to work in the profession, and help more people throughout societv get the life-changing therapy they need. In particular, the trustees believe that they have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to the public benefit guidance, as published by the Charity Commission. The trustees are driven by the charity's objects when setting the strategic direction of the charity and actively monitor the impact of the charity's activities. The charity's impact is set out in the strategic report. We want people every- where to value the life-changing power of occupational therapy. IRoyal College of Occupational Therapists.. a charrtable company limtted by Shares registered in England and Wales Icompany no. 013473741,. a charitv registered In England W8les Ino. 27511918nd in Scotland Ino. SC0395731', registeTed office Phoenix House, 10fv114 Borough High Street. London. SEI ILB Docusign Envelope ID 4FE6AC8B-251C-496E-912D-DF876290ACDD RCOT l Annual R•port of Trust••s R•port of th• Chair of Board of Trust•ès Occupational therapy holds the key to addressing many of the UK'S health and care challenges. It has been inspiring to see so many members collaborate with RCOT, to reclaim our narrative, share experiences and expertise, and grow the evidence and data needed to drive change and innovate solutions that truly matter. Odeth Richardson Ishe/herl Chair of Board of Trustees DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Report of the Chair of Board of Trusteès Occupational therapy holds the key to addressing many ofthe UK'S health and care challenges. However, those of us in the profession are all too aware of the hurdles we face. High vacancy rates, staff retention issues and a lack of investment often hinder our ability to provide h igh-quality, impactful services. diverse membership and the professional lives we lead. Whether you have supported us, engaged with us, or challenged us- we are grateful for your input. This year, we also took a significant step towards strengthening our governance. Renaming the Council to a Board of Trustees underscores our commitment to delivering public benefit through ou r charitable purpose at RCOT and our trade union activities through BAOT. This year, the launch of our Workforce Strategy marked a significant milestone for us. It showcased the incredible power we can harness when we unite with our members, volunteers and stakeholders. Our collective leadersh ip ig crucial in advocating for an expanded workforce that can make a real difference in people s lives. Together, my trustee colleagues and the Senior Leadership Team will continue to strive to grow our organisation, enhance our offer and experiences for members and build an ambitious, high-performing and financially resilient body that occupational therapists can be proud of. We are committed to reflecting the unique political, social, economic and health environments our four nations face, and working together to achieve the neceggary changes by 2035. uSvJnEdty." ILIL The leadership demonstrated by our members has been evident throughout our progregs this year. It has been ingpiring to see so many members collaborate with RCOT, to reclaim our narrative. share experiences and expertise, and grow the evidence and data needed to drive change and innovate solutions that truly matter. Odeth Richardson Ishelherl Chair of Board of Trustees Our members and volLJnteers remain at the heart of our organisation. This year, we transformed our long-standing Boards and Specialist Sections. While this process was challenging both personally and professionally for some, I have been heartened to see our passionate members and volunteers rise to the occasion, working with us to push our organisation forward. Your dedication ensures we can represent our rich and DoGusign Envelope ID 4FF6A¢8￿251c-496E.9l2D.DFB7629QAcDD RCOT l Annual Report of Trustees R•port of th• Chi•f Ex•eutiv• Reflecting on our journey this year fills me with optimism. We're embracing our role as changemakers, tackling challenges in health and care services, and leading the way for other allied health professionals. Steve Ford Chief Executive RCOT DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees R•port of th• Chi•f Ex•eutiv• With our members, we bring together a wealth of experience and expertise, providing the professional leadership needed to make a significant impact through occupational therapy services. Despite the cost-of-living crisis and rising costs, we've shielded our members from these financial burdens forthe third year in a row. At the same time, we've continued to invest in new member benefits by offering a suite of new and improved services, ensuring our membership supports your personal and professional development and offers great value for money. Reflecting on our journey this year fills me with optimism. We're embracing our role as changemakers, tackling challenges in health and care services, and leading the way for other allied health professionals. Together with our members, we're stepping up for occupational therapy and I'm excited for what lies ahead. Many members tell me that RCOT feels different now. Our advocacy is louder, our message about our role and impact is stronger, and our relationships and partnerships are more influential. RCOT is where occupational therapists can u nite to develop bold solutions, with membership designed to support and encourage you at every stage of your career. Sb3n•dty. 264A￿778[￿2424.. Steve Ford Chief Executive RCOT We're also deepening our commitmentto equity, diversity and belonging. Our ChooseOT campaign is encouraging more people from different backgrounds to consider the profession, helping occupational therapy better reflect the communities we serve. We're addressing early career pressures bv improving practice-based placements for learners and fostering a greater sense of community within our membership, focusing on specialisms, innovation, knowledge sharing and peer support. DoGusign Envelope ID 4FF6A¢8￿251c-496E.9l2D.DFB7629QACDn RCOT Annual Report of Trustees ,*¥ 10 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Our vision, stratè9y and valuès Our vision, strategy and values We want people everywhere to value the life-changing power of occupational therapy. This bold and simple vision is at the heart of our five-year strategy12022-20261 and guides everything we do. We focus on making the biggest impacts, based on our strengths and our members needs. Our four strategic priorities d rive our work and you can see our achievements during the reporting year from page 15 onwards. Stepping up for occupational therapy 11 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Our vision, stratè9y and valuès Strategic priorities Rise Up Open Up We will rise up to be bold. progressive advocates and champions- raising our profile and voice so that more people understand the power of what occupational therapists do. We will open up to new opportunities and people- joining forces, forming alliances, and getting more people to see occupational therapy as the solution to their needs. Lift Up Build Up We will lift up every occupational therapist and support them to be the best they can be throughout their entire career- by offering them the best community, resources and tools that help them to succeed. We will build up our organisation and culture to be dynamic. high performing and values-led- using insights and data to inform and drive us to achieve our purpose. Occupational therapy helps people live their best life at home, at work- and everywhere else. It's about being able to do the 'occupations' you need, want and have to do. Occupational therapists see beyond diagnoses and limitations to hopes and aspirations. 12 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Our vision, stratè9y and valuès Our values Our values drive us to reach our goals We live and breathe our values. They describe what matters to us and guide how everyone at RCOT acts and makes decisions as individuals and as one team. We Impact We Challenge We make meaningful differences with all our work. We find new and better ways to make things happen. We are brave and bold in our ideas and actions. We prioritise work that achieves our shared purpose and strategy. We go above and beyond for the people who need us. We challenge ourselves, each other and the status quo. We Elevate We Respect We value each other and celebrate our differences. We lift up and support others to be and do their best. We are accessible and collaborative. We are approachable, genuine and trustworthy. We listen to others and believe everyone's views should be heard. We are united and move forward together, even if we sometimes disagree. 13 DoGusign Envelope ID 4FF6A¢8￿251c-496E.9l2D.DFB7629QAcDD RCOT l Annual Report of Trustees strat•9ie rèport 14 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ie rèport Strategic report The trustees present the strategic report of RCOT for the year ended 30 September 2024. •• 15 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD Hosted Strategic report Our year in numbers 2023-2024 527 members across f ive thought-provoking and informative Equity. Diversity and Belonging Insights and Reflection sessions. Published our first Workforce Strategy and engaged key decision-makers from across government, the NHS and Allied Health Professions at our UK-wide roundtable launch event. Supported Advised 8,892 2,738 members to record their Continuing Professional Development activities through our new member benefit- an online CPD ￿e0rdIng tool. members and the public through our Professional Advisory Service. Surveyed 2,676 This was a members to understand what they want from their professional body and to identify improvements. 51% increase on the previous year. 16 DoGusign Envelope ID." 4FE6Ac8￿251¢-496E.9l2D.DFB7629QACDn #ChooseOT Welcomed Amplified the diverse stories and experiences of members, journeys into the profession through our ChooseOT campaign that received 68.311.518 social media impressions. 1,108 new learners Th toour membership. Invested in high-quality occupational therapy education by supporting 54 Growing our o¢¢upational therapy community and supporting the next generation of occupational therapists to thrive in their profession. pre-registration education providers. Supported 96 Increased our social media reach across all platforms by almost members to stay connected with their profession through our Hardship Fund. rising to 900,000 followers 1Lk.43 i/ 14.4 Il/ and unlocking a thriving community of occupational therapists. Iiu 17 DoGu$ign Envelope ID." 4FE6Ac8￿251¢-496E.9l2D.DFB7629QACDn RCOT l Annual Report of Trustees 18 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ic r•port- Ris• Up 1. Rise Up We will rise up to be bold, progressive advocates and champions- raising our profile and voice so that more people understand the power of what occupational therapists do. Occupational therapists have the power to transform lives. As allied health professionals, they play a critical role in shaping the future of health and social care. The Royal College of Occupational Therapists leads this charge - championing collaboration, influencing policy and empowering its members to step into leadership. By unleashing the full potential of occupational therapy. we can drive positive change for the public, our communities and our future health and care services." Beverley Harden MBE FCSP Deputy Chief Allied Health Professions Officer NHS England 19 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ic r•port- Ris• Up What we did 2023-2024 Leadership for our profession We provide the leadership our profession needs to strengthen, advance and support occupational therapy and its impact on people's lives, and ensure we have the workforce needed to respond to growing demand for occupational therapy services and support. With projected population growth and more people living with multiple health conditions, we need to improve access to advice and expertise so people can continue to contribute to society and fulfil their roles and responsibilities while managing their health and wellbeing. That combined expertise already exists in a registered health and care profession - occupational therapy. Aworkforce under pressure A series of summits and our workforce survey conducted in 2022 found clear evidence of a workforce under pressure and a profession in crisis. High community waiting lists Too many occupational therapists leaving the profession Occupational therapists unable to make full use of their skills Lack of understanding of what occupational therapy is Poor access to occupational therapy services Complicated referral process 20 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ic r•port- Ris• Up Our first Workforce Strategy We published our Workforce Strategy in March 2024, setting a vision of an expanded occupational therapy workforce - positioned to have maximum impact in improving people's health and quality of life. By 2035. we will have a workforce that is= With this strategy. our occupational therapy workforce will become a powerful movement- boldly negotiating where we should be positioned to have the maximum impact for the UK'S communities, armed with robust evidence about what occupational therapy brings to health and social care." confident and skilled in championing inclusion and advocating for occupational justice, focusing on the right of every person to have the choice and opportunity to engage in a diverse range of activities and roles based primarily within communities, working closely with local populations to meet their health and care needs and ensuring that services are accessible to everyone positioned to focus on prevention and early interventions, minimising the need for crisis interventions and dependency on care services Odeth Richardson Ishe/herl Chair of 8oard of Trustees putting occupations at the forefront of their practice, empowering people to do the occupations that they value, manage their health and care needs and contribute to society. The strategy was informed by national policies, the occupational therapy workforce and stakeholders such as the World Federation of Occu pational Therapists, natiornal and regional Allied Nealth Profession leads and government representatives. 21 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ic r•port- Ris• Up Workforce Strategy priorities Optimising occupational therapy We will.. Retention and career development We will- support occupational therapy practitioners to be changemakers, using their skills and knowledge to lead and co-design innovative products, interventions and services that improve people's lives and wellbeing support and promote the development of all occu pational therapy practitioners, especiallv those from historically marginalised and underrepresented communities, to be where they want to be, at each stage in their career champion innovative service delivery models that improve access to occupational therapy and achieve health equity for all. build our profession's capacity, confidence and capability to incorporate leadership, learning, research and innovation into practice. Demonstrating value and impact We will.. Effective workforce planning We will empower the occupational therapy workforce to.. build our real-world and research evidence for occupational therapy and justify investment in the occupational therapy workforce by quantifying the impact contribute to, access and use the workforce planning data and intelligence available to them use the data and intelligence to make informed decisions about their positioning within the health and care system. work with our leaders to put the case for how and where to deploy our expertise to add the most value for people and theirfamilies and the wider health and care system, to avoid critical shortages within the occupational therapy workforce. 22 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ic r•port- Ris• Up Launching our Workforce Strategy Brought together senior leaders representing government, the NHS, Allied Health Professions, the Royal College of General Practitioners, think tanks, foundations and UNISON at a roundtable event to launch the U K-wide Workforce Strategy. Recognised the different political, social, economic and health environments across our four nations and committed to developing nation-specific action plans for each of our nations with the support of our new Workforce Strategy Advisory Groups. (More on page 241. We discussed how we can transition the occupational therapy workforce into community settings to support people where they live and work and how we can empower employers to grow a workforce that reflects our projected population. Co-produced and launched our Workforce Action Plan for Wales in the Senedd in June 2024. We showcased the experiences of occupational therapists and their work to members of Welsh parliament and Welsh Government including the Health Mi nister and Chair of the Health Committee. Attracted widespread coverage across sector press reaching key stakeholders and audiences including a thought-provoking leadership article in the influential Health Service Journal. 23 Docusign Envelope ID 4FF6A¢8￿25Ic-496E.gl2D.DF￿762g0AcDD RCOT l Annual R•port ofTrustees strat•9ic r•port- Ris• Up Spotlight From Boards to Advisory Groups RCOT Boards served our occupational therapy community over many years, contributing to our profession. Yet they had li mited representation from support workers, learners and apprentices, meaning these groups, perspectives were not fully representative of the occupational therapy workforce at different career stages or from more diverse backgrounds. This also led to a heavy workload placed on a few members. In March 2024, and as part of our strategic ambition to create more flexible. accessible and inclLJsive ways for members to engage and lead their profession, we stepped down the five boards and introduced new advisory groups. Advisory groups are more inclusive and allow members from across career levels and diverse backgrounds to take part. They are more agile, with clear terms of reference aligned to strategic outcomes, and allow for focused and timebound engagementto reflect members, capacity and expertise. We're grateful for and thank all our current and past Board members for their valuable contributions towards our profession over the years. Our new Advisory Groups represent a significant step forward in how we work with members, with better representation and more opportunities for members to provide valuable leadership in shaping our approach." Karin Orman Director of Practice and I nnovation RCOT 24 Docusign Envelope ID 4F￿GA¢8￿251¢-496E.9l2D.DFB7629QACDn RCOT l Annual R•port of Trust••s str epor Ris• Vp We recruited 83 members across our Workforce Strategy Advisory Groups for ourfour nations to ensure our action plans reflect local needs and opportunities and are shared with key decision-makers and stakeholders. Representatives spanned across our membersh ip categories included from our Board of Trustees, leaders in health and social care services, UNISON representatives and learners. I see this as an opportunity to widen access to the occupational therapy community and all levels to have influence and be part of decision making. I know some people are intimidated at the thought of being part of a national board, but I've already had interest from clinicians keen to be involved in the advisory groups where they can share their skills and knowledge. This will be a fantastic development opportunity for so many." Robert Workman Chair of the RCOT Board in Wales 2022-2024 25 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ic r•port- Ris• Up Equity, Diversity and Belonging The occupational therapy workforce will only be able to deliver maximum impact in improving people's health and quality of life if everyone in the profession feels welcome, seen and heard and if we are truly representative of the people and communities we serve. Our strategy Launched our first ever Equity, Diversity and Belonging {EDBI Strategy in November 2023 following an extensive development process and consultation that brought together the views, insight and experiences of members, stakeholders, people with lived experiences from minoritised and racialised backgrounds, underrepresented groups and those with protected characteristics, into a set of recommendations. 66 Our Equity. Diversity and Belonging Strategy guides us on our journey to creating a culture where everyone in the occupational therapy profession feels truly valued and supported as their authentic selves. Co-produced with members, the strategy and accompanying action plan identifies our EDB priorities and a set of 44 actions that we committed to deliver by 2027 to achieve our vision of being a bold, progressive advocate of equity and social justice and to create a culture of authenticity and belonging, where everyone is welcomed, celebrated, supported, recognised and valued as part of our organisation. Steve Ford Chief Executive RCOT 26 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ic r•port- Ris• Up EDB strategic priorities Accountability and commitment Our members, staff and volunteers understand that EDB is all of our responsibility, and that words and good intentions are not enough. Learning, development and confidence Our members, staff and volunteers are confi'dent and skilled in championing EDB and challenging inequity, injustice, and discrimination. Effective leadership RCOT leadership team and trustees visibly champion EDB and this strategy, role model anti-racism and anti-discrimination. consistently demonstrating effective allyship. Safe and inclusive culture RCOT has an inclusive culture, with health and wellbeing at the heart, that is truly ref lective of our organisational and professional values. Transparency RCOT is critically self-reflective, transparent and intentional in communicating our commitment to and progress with EDB, to build trust in our organisation. Diverse and thriving profession RCOT understands and works to remove barriers to entry, to open up occupational therapy as a profeggion to better reflect the diversity of the UK. Our EDB progress Spearheaded several EDB Insights sessions, creating a space where members could come together with colleagues to explore different aspects of EDB and discuss how it affects occupational therapy, our members and our working lives. These sessions- on timely subjects- are designed to be spaces for members to develop their understanding, explore complex issues and identify learnings to continue their personal and professional development. Members reported how much they valued us creating safe spaces for them. 27 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ic r•port- Ris• Up Introduced ED8 reflection sessions. The first, in response to the far-right riots that deeply affected many members personallv and professionally, brought together affected members with RCOT to reflect, share their experiences, fears and concerns, and foster solidarity within the occupational therapy community. Shared an EDB Critical Self-Awareness toolkit in September 2024, supporting members and wider stakeholders to embed EDB activity in their working practice and across their professional lives. Complete with handv, easy to use prompts, and questions to support reflections, the toolkit enables people to map their own understanding of EDB and their journey to building their awarenegg, understanding and confidence to actively oppose discrimination. It was a real privilege to be part of the session and I thank every speaker for being so open and honest and sharing their most vulnerable self (selves). The power of human connection is so important. and I could feel the speaker's suffering and that of their signif icant others when describing their experiences." EDB Insights session participant 1,124 have downloaded the EDB toolkit people Thanks for sharing the toolkit I love how straightforward this is to pick up and use, and how it gives a very safe structure for exploration and learning." EDB toolkit user 28 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ic r•port- Ris• Up Collaborated with 32 members who form our Expert Advisory Groups IEAGS) enabling the rich knowledge, lived experiences and insights from members of the communities they represent to both inform and guide our work. Offered the EAGS a dedicated and safe space to manage their networks and further their discussions on RCOT Communities, our new online communities engagement platform. They Ljsed the interactive features, providing us valuable feedback to ensure this will be an inclusive and accessible space for all when it launches. Read more about RCOT Communities on page 58. Over a series of 36 engagement meetings, EAG memberg contributed to the development of our Career Development Framework and Research and Innovation Strategy, and shared views and perspectives on our approach to improve accessibility through the new website. EAGS continue to offer us robust challenges to drive us forward. ensuring ou r collective work is inclusive and accessible and delivers on our collective EDB goals. 32 form our Expert Advisory Groups members RCOT ABLE OT RCOT B.A.M.E OTUK RCOT LGBTQIA+ RCOT Carers. 'established in 2024. 29 Docusign Envelope ID 4FE6ACB￿2Slc.406E.9l2D.DFB762g0AcDD RCOT l Annual R•port afTrustè•s strat•9ic r•port- Ris• Up Spotlight Celebrating Pride Pride month is a celebration for LGBTQIA+ communities and allies. For the first time, members of the LGBTQIA+ Expert Advisory Group came together with staff from the LGBTQIA+ colleague network and invited all members to an informal meet up at London Pride,. showing visible solidarity within and for the profession. The meet up was the result of shared work between the groLiPS, exploring what the occupational therapy community needs f rom its professiona I body. Whi 1st representing different stakeholders, they share a purpose to promote visibility, community and belonging and allyship and accountability. The groups also expressed a desire to be at future regional Pride events. Having RCOT representation at events like this is essential - to demonstrate the inclusivity of the profession to both the public, prospective occupational therapists and existing occupational therapists- LGBT(LIA+ or not." RCOT member 30 Docusign Envelope ID 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT I port of Trustees strat•9ic r•port- Ris• Up DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ic r•port- Ris• Up A stronger voice for our profession Influenced policy and practice together with our members across our four nations, establishing a stronger voice for occupational therapy and advocating for our members and the profession. We engaged with senior policy and decision-makers, provided briefings and shared evidence and insight to ensure occupational therapy receives the profile it deserves. Responded to several UK-wide/ nation- specific government consultations on subjects including creating a smoke-free generation, Health and Care Professions Council fees, Work Capability Assessments, fit note reforms, pay spines for nurses and more, making a compelling case for occupational therapists in wider health and social care reform. Empowered members to be more politically active by supporting them with resources to write to prospective parliamentary candidates, advocating for occupational therapy and how it can be part of the solution to health and social care challenges. Raised awareness of our responses to general election manifestos through sector press coverage including Care Management Matters, The Carer, Independent Living and Caring Times, with a collective circulation and reach of over 80,000. Advocated for improvements in entry routes and career progression into the health system by extendi ng apprenticeshi ps beyond nursing to include occupational therapy. We tabled a motion in Stormont in March 2024, following the return of power sharing in Northern Ireland, and engaged with senior leaders from each of the five health and social care trusts, convening with local members and the occupational therapy workforce to promote awareness and visibility of our profession. Positioned the unique value and contribution of occupational therapy in discussions and debates around the development of a nationalised social care service in Scotland, ensuring government and stakeholders were sighted on the significant role and impact the occupational therapy workforce could have on plans to improve community health, social work and social care. 80,000 Our press coverage reached 80,000 people reach 32 Docusign Envelope ID 4FE6AC8B-251C-496E-912D-DF876290ACDD RCOT l Annual Rèport of Couneil strat•9ic r•port- Ris• Up Spotlight Voting as an occupation When the general election was called, we quickly developed and introduced a new theme for our Lift Up Your Everyday campaign, to support people to vote confidently. Voting is both an occupation and a right. But our survey found millions of people are put off voting because of their health, citing exclusions or obstacles they face such as transport issues, lack of information, language barriers and the complexities of the voti ng process itself. 9 million people are put off voting because of their health. RCOT survey We provided expert advice from and for occupational therapists which we shared with our membership and the wider public to encourage and support people to take part in our democratic processes. 71,000 saw our social media posts people JThis nationally representative survey of 2,000 adults was commissioned by RCOT and Conducted by OnePoll. 33 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ic r•port- Ris• Up Our national campaign Occupational Therapy Week (OT Week) is our national awareness-raising campaign dedicated to celebrating the life-changing power of occupational therapy. Our members told us they have to explain what occupations are and why they are important in people's health and wellbeing. Our 2023 award-winning campaign focused on occupations and why they matter- building a strong foundation for future awareness of the profession amongst a wide range of public stakeholders. Shaped the campaign together with members, developing a theme, narrative and resources that enable the occupational therapy community to overcome the barriers they face when talking about occupation and building confidence to share their expertise with target audiences. Invited I l occupational therapists f rom a broad range of experiences and career stages to share how they help people to understand what occupations are- and to share their advice for how fellow occupational therapists can own it as their superpower through a dedicated engagement event that was attended by 338 members. The campaign won three communication awards and 6896 of members surveyed said it helped them to own occupation and talk more confidently about it. A selection of members reported that their confidence in talking about occupation with people they support increased from 44% to 91%. 5,700 The digital campaign resources were accessed over 5,700 times. times 20ur benchmark group of 200 members. 34 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ic r•port- Ris• Up Lift Up Your Everyday Supported people to overcome the challenges they face and get the most out of life through our public facing campaign, Lift Up Your Everyday. With the bite-sized expert advice co-designed with members, the campaign enables us to demonstrate what occupational therapists do and raise awareness of our profession and practitioners. We launched two new Lift Up Your Everyday themes: Relationships and intimacy Better sleep Timed with Valentine's Day, we shared advice about relationships and intimacy in response to our survey which ghowed the impact health problems have on people s sex lives, intimacy and relationships. With poor sleep affecting physical health, mental wellbeing, mood, concentration and stress, we shared advice about how to sleep better on World Sleep Day. These social media posts were seen by over 100,400 people and were covered by Daily Mirror. Daily Express and a large feature in Chat magazine. Our social media posts were seen by over 92,000 people and featured in Mailonline, Daily Mirror and Metro. Increasing visibility Engaged with audiences across social media, unlocking a thriving community of occupational therapists and keeping members informed about their profession. Comments on posts are an excellent indicator of meaningful engagement, and we saw an 1896 growth in comments compared to the previous year. We also extended our followers across all platforms by 896. 8y working with high-profile supporters who have shared our OT Week and Lift Up campaign messages, we've expanded our reach and connected with new audiences. Exceeded our targets, achieving 580,000 social media engagements and increased opportunities for people to see our content and messages across channels by almost 50%, reaching 900,000. 35 DoGusign Envelope ID." 4FE6Ac8￿251¢-496E.9l2D.DFB7629QACDn RCOT l Annual Report of Trustees strat•9ic r•port- Op•n Up 36 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ie r•port - Op•n Up 2. Open Up We will open up to new opportunities and people- joining forces, forming alliances and getting more people to see occupational therapy as the solution to their needs. It probably sounds quite cliche, but I think RCOT provides a soil for your OT roots to evolve from. It gives you the foundations of knowledge, a team to work with professionally and personally and keeps you safe. I don't think I would be able to practice as well as I can and be as informed as l am without RCOT behind me." Sarah Ishelherl RCOT member 37 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ic r•port- Op•n Up What we did 2023-2024 We need more people to consider occupational therapy as their career and ensure the next generation of occupational therapists have the skills and support they need to deliver expert and high-quality care and take the lead in innovating and improving our profession to further our impact. media campaign that received 68,311,518 impressions and translated into 531,714 visits to our website for more information to support them on theirjourney into the profession. Encouraging more diversity into the profession In line with our Workforce and ED8 strategies, we need more people from all walks of life to consider occupational therapy as a career and ensure our future workforce represents and reflects the people and communities we serve. I didn't have a healthcare background. but here l am studying occupational therapy. English is my second language and I thought it would have been a barrier. But because I've been able to integrate and interact with different people in my placement and volunteering, I've been able to bridge that gap." Amplified the personal stories and experiences of members from different backgrounds andjourneys into the profession through ChooseOT, a vibrant and engaging social Blessing RCOT member 38 Docusign Envelope ID 4FE6AC88_251C_496E.912D.DFB76290ACDD RCOT l Annual Report of T strat•gic r•port- Op•n Up Supporting the next generation Hosted 11 monthly Placement Cafes, with 453 registrations of members and non-members across the year. These bring together practice educators and those involved in gu pporting occu pational therapy placements, offering them the chance to network and share ideas and innovations of how to create quality, sustainable opportunities for learners and problem solve challenges with their peers. We set the professional and educational standards for occupational therapy, robustly assessing the quality and delivery of pre-registration education programmes. Across 19 accreditation events, we used the Learning and Development standards to review 29 pre-registration programmes, ensuring learners are set for success. This included supporting eight new education providers to deliver 10 new Master's, Bachelor's and degree apprenticeship programmes- expanding the number of pre-registration places available for learners. Our accreditation safeguards the quality of education future graduates receive across the UK and globally. Relaunched the AHP principles of practice-based learning originally developed with the Chartered Society of Phygiotherapy and now co-badged with eight additional professional bod ies. The principles act as a catalyst and framework for our professions to come together to enhance the qualitv and capacity of practice-based learning opportunities for our future workforce. 39 DoGusign Envelope ID." 4FE6Ac8￿251¢-496E.9l2D.DFB7629QACDn RCOT l Annual Report of Trustees strat•9ic r•port- Op•n Up Spotlight Collaborating with partners Workforce reform 2024 programme Following our successf ul collaboration with NHS England during 2022-2023, we successfully bid for and received further funding from NHS England's Workforce Training and Education Directorate to deliver education reform for occupational therapy through a year-long workforce reform programme. 2. Reviewing the Career Development Framework in collaboration with The Creative Health Alliance to support occupational therapists personal and professional growth. In partnership with our Expert Advisory Groups, Leadership Forum, Council of Occupational Therapy Education Directors and other stakeholders, we've collected feedback on how the framework is being used, its strengths and li mitations, inclusiveness and relevance to identify gaps and inform recommendations for a new and improved version to be launched in 2026. Aligned with our own desire for workforce reform (see Workforce Strategy page 231, we will deliver the programme through four key projects.. 3. Reimagining advancing practice for occupational therapists, in partnership with the Royal College of Speech and Language Therapists, Coventry University and the University of Salford to apply national frameworks consistently across all occupational therapy roles and settings. l. Using research, workshops and surveys from both students and practitioners to gain valuable data on career trends, to develop into a marketing strategy that inspires future generations of occupational therapists and increases and diversifies university applications. 4. Publishing powerful stories that use the personal experiences of occupational therapists to showcase how occupational therapy is transforming lives across social care and the justice system. 40 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ie r•port - Op•n Up Community for Allied Health Professions Research Since its launch in May 2024, we have.. On behalf of the 14 Allied Health Profesgiornal IANPI bodies that form the Community for Allied Nealth Professions Research ICAHPRI. we received £IOO,000 funding from NHS England to support research and innovation to.. launched a research resource bank to provide vital information and support to AHPS at any career stage with an interest in research and innovation begun developing an influencing plan and resources to support CAHPR and the 14 AHP bodies, lobby funders for equitable access to UK research funding Increase research capacity building across all AHP disciplines established a robust set of metrics and methodology to map UK AHP clinical workforce including developi ng and piloting a survey for national rollout in 2025 Map our UK AHP clinical academic workforce created a map of leaders across the UK with strategic influence in AHP research and held a series of stakeholder sessions to explore strategic engagement plans. Strengthen AHP research leadership communities DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ic r•port- Op•n Up Nurturing research and promoting innovation Occupational therapy should be at the forefront of health and social care transformation. In 2024, we awarded three research grant Dr Fiona Maclean Research Priority Grant Co-creating the future.. the use of multifunctional robots in occupational therapy and dementia. To support this, we foster a culture of continuous improvement. By nurturing research and promoting innovation, we can use real-world data, experiences and insight to elevate the impact occupational therapy has on people's lives. Dr Brightlin Dhas Research Career Development Grant Our Research Foundation supports the development of occupational therapy research capability and capacity within the profession. Practice Readiness of Newly Qualified Occupational Therapists in United Kingdom. Julian Jeyasingh-jacob Scoping Review Grant What is the use of Artificial Intelligence in Occupational Therapy Practice, Education. and Research? RCOT is at the forefront of research and innovation. We're constantly trying to strive for evidence-based practice and new knowledge to raise the profile of occupational therapy and the quality of the work that our OTS are doing." Mary Ishelherl RCOT member 42 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ie r•port - Op•n Up Innovation Hub Piloted an Innovation Seed Fund inviting members to apply for up to £5,000 funding to advance occupational therapy practice through innovation and real-world evidence gathering to build our evidence base and to support furtherfunding bids. Our Innovation Hub brings together occupational therapists passionate about leading change to share their service challenges and ideas for improvement. Members submitted 57 examples of innovative projects for inclusion, showcasing key innovative features and the stepg they took to overcome challenges,. enabling others to implement changes in their own services or practice. Innovation Seed Fund recipients Deploying the new Skills for Care IDelegated Healthcare Activities) principles in adult social care practice - Alicia Ridout, Director and Founder of Involve Me Digital Research Ltd Offering a rolling group programme in Nottingham West Primary Care Network- Catherine Seals, Mental Health Team Lead, Nottinghamshire West Primary Care Network Tai Chi and Qigong as part of a falls prevention and long term conditions strategy - Lucy McNeill, Advanced Practitioner Primary Care Occupational Therapist Stocking occupation-focused resource boxes for the Integrated Master's programme at Robert Gordon University - Alison Gillespie, Practice-based Learning Lecturer in Occupational Therapy, Robert Gordon University Using Virtual Reality to support students to access the cu rriculum Philip Wade, Lead Occupational Therapist, Hedley's College 43 Docusign Envelope ID 4FE6AC8B-251C-496E-912D-DF876290ACDD RCOT l Annual R•port of Trust••s strat•9i¢ r•port - Lift Up 44 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ie report - Lift Up 3. Lift Up We will lift up every occupational therapist and support them to be the best they can be throughout their entire career- by offering them the best community, resources and tools that help them to succeed. As a newly qualified occupational therapist, it can be quite daunting, but it's great to know that I've got a membership that will help me and support me, and I have a huge network of people that I can communicate with." Farhat RCOT member 45 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9i¢ r•port - Lift Up What we did 2023-2024 An RCOT membership means joining over a 36,000 thriving community of people passionate about improving lives through occupational therapy. We continuously improve our membership offer and benefits to meet members, changing personal and professional lives. In 2023-2024, we introduced a range of new benefits for our members. We also automated CPD diary entries for our larger scale RCOT events making it easier for memberg who attended the 2024 Elizabeth Casson Memorial Lecture or our Annual Conference to quickly and easily log their learnings, saving them time. 66 As a member of RCOT, I get access to the CPD portfolio, which l am f inding incredibly useful. Before I would collect information in a shoe box and now it's on an app. It's so easy to take a photograph to capture evidence or put in a title of what you've just done and you automatically get feedback in each section. It's been life enhancing and a massive time saver. I now worry less about CPD and a potential HCPC audit." Alison Ishelherl RCOT member Support for life-long learning Offered members access to their very own online CPD portfolio as a new member benefit in December 2023, in response to feedback from members who found it challenging to stay on top of recordi ng their continu ing professional development ICPDI an essential requirement to meet Health and Care Professions Council IHCPCI standards. The CPD portfolio makes it easy for members to record and store CPD activities in one place, enter CPD diary entries and record reflections to i mprove the quality of occupational therapy practice and service delivery. In 10 months, 8,892 members signed up for the platform. 46 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ie report - Lift Up Easy access to our Digital Library l am a student and new to RCOT. This session was brilliant, I had no idea of the extent of support and resources available to us, and l am looking forward to exploring in more detail." RCOT member Introduced a new OpenAthens technology connection for members in June 2024, enabling a simple, safe and secure sign-in process to our Digital Library. Members have access to an increasing range of online resources, e-books, journals and databases and can use this rich evidence base to support thei r practice, learning, research and CPD. 1,321 members have now registered for an OpenAthens active account. Maximise your membership Delivered 16 webinarg for members, showcasing the full spectrum of our support and services available, enabling members to discover the f ull potential of their membership. These tailored. expert-led sessions focused on member benefits like the CPD portfolio and special interests such as Research and Development. They also offered practical tips and strategies tailored to different career stages and milestones such as newly registered occupational therapists, those considering a return to practice or approaching retirement. 3,710 members signed up for the webinars, almost IO% of our membership. I really enjoy having access to the library. My university didn't have access to a lot of the journals, so being able to access them through RCOT was invaluable for my essay writing. The membership is value for money when you realise all the benefits that you can get." Orla Ishelherl RCOT member Those who attended have a greater understanding of the support available, better access to their peers and community and are more likely to stay connected with us in the future. 458 non-members also participated, finding out more about how an RCOT membership can support their career. 47 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9i¢ r•port - Lift Up Fitness to practice Launched a fitness to practice support group bringing together 30 members who were going through the stigmatising and challenging process of a Health and Care Professions Council IHCPCI investigation. With a 35% increase in the number of members needing support through their investigation, this group shared best practice and offered advice and peer-to-peer support in a safe space. Members valued the sense of community these fostered, felt more encouraged, less isolated and more engaged with us. Support at every career stage Advised 2,738 people through our Professional Advisory Service, offering one-to-one advice for members tailored to their career stage, issue or future plans. Supported 96 members who were struggling with the cost-of-living crisis through our hardship fund, enabling them to stay connected with their profession and receive their RCOT benefits and services. 66 Delivered a powerful and inspiring showcase for the profession th rough Annual Conference 2024. This flagship event brings together the occupational therapy profession to share the latest insight, innovation, knowledge and leadership. Over 1,200 people registered to attend the online conference and more than 6,000 visits were made tothe new bite-sized learning sessions. It's good to feel supported by people who are going through the same process and not feel lonely." Fitness to practice support group member Networking flourished with more than I 1,000 interactions between attendees and the conference hashtag #RCOT2024 reached 1.2 million people on social media- more than double the 2023 figure. 14.43 Il/ 48 DoGusign Envelope ID 4FF6A¢8￿251c-496E.9l2D.DFB7629QAcDD RCOT l Annual R•port of Trust••s strat•9ie report - Lift Up 49 DoGusign Envelope ID 4FF6A¢8￿251c-496E.9l2D.DFB7629QAcDD RCOT l Annual Report of Trustees strat•9i¢ r•port - Lift Up Spotlight Recognising the exceptional contribution of our members Every year we invite members to nominate their peers and colleagues for a prestigious Fellowship or a Merit Award in recognition of their special contribution to our profession. A Fellowship is the highest honour we can present to OLJr members to recognise exceptional service and outstanding contribution to the profession and RCOT over many years. Merit Awards recognise the significant achievements made by our memberg at any stage of their career, whether locally or regionally, in a specialistfield or diverse area of practice. Nominations are considered by the Fellowship and Merit Awards Committee against their respective criteria and standards who then make a recommendation to the Board of Trustees for approval. In 2024 we awarded two Fellowships to: Dr Carolyn Dunford, Reader in Occupational Therapy at Brunel University London Professor Nicola Spalding, Professor Emeritus at the University of East Anglia and visiting Professor at Birmingham Newman University so DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ie report - Lift Up In 2024, we awarded 12 Merit Awards to: Adam Ferry. Director of The OT Service and curator of The OT Show conference programme since 2013 Associate Professor Kalimah Ibrahiim., Associate Professor of Occupational Therapy and Programme Director at Buckinghamshire New University Alison Keir, Occupational Therapy Team Lead, Older Adults Mental Health Team NHS Forth Valley Kathryn Leigh Smith, Consultant Occupational Therapist and Director atASI Wise and the Merlin Neuro Therapy Centre in Cornwall, where she specialises in Sensory Integration and Neurodevelopmental Therapy Dr Blaine Robin, Senior Lecturer at Leeds Beckett University and founder of the International Caribbean Writers Group Dr Charlie Chung, Allied Health Professions Stroke Strategic Lead and consultant occupational therapist in stroke, NHS Lothian Odeth Richardson., Head Occupational Therapist at Newcastle Upon Tyne Hospitals and Chair of RCOT Board of Trustees Elizabeth Doherty, Occupational Therapist and Co-ordinator ofthe Condition Management Programme in the Western Health and Social Care Trust Penny Wosahlo. Managing Director, ThinkTherapy 1st Robert Workman, Deputy Head of Occupational Therapy/Dirprwy 8ennaeth Therapi Galwedigae-thol, Swansea Bay University Health 8oard/Bwrdd lechyd Prifysgol 8ae Abertawe and RCOT Workforce Strategy UK Advisory Group member Helen Rushton, Occupational Therapist and founding member of #OTalk Janet Nicholson, Advanced Paediatric Occupational Therapist, Ronnie MacKeith Centre, Derbyshire Healthcare NNS Foundation Trust 'Whilsl independently nominated. as trustees. these recipients were not Involved In approving recommendations from the Fellowship 4nd Merit Awards Committee to avoid issues of conflict. 51 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9i¢ r•port - Lift Up Elizabeth Casson Memorial Lecture Professor Katrina Bannigan delivered the 2024 Elizabeth Casson Memorial Lecture 'The time is now, in April 2024. Professor Bannigan shared individual examples of occupation-based practice in public health. She used her prestigious platform to encourage our profession to use the tools of the social age to create a social movement for change and take collective action to promote our impact. With over 26 years of expertise, Katrina is an internationally renowned occupational therapist researcher and educator whose impactfu I leadership has fuelled the growth of evidence-based practice in occupational therapy. 2,222 people registered to attend the lecture and 734 people joined the live stream. Speakers are nominated by members and reviewed by a member committee, with a final decision made by the Board of Trustees. DoGusign Envelope ID." 4FE6Ac8￿251¢-496E.9l2D.DFB7629QACDn RCOT l Annual R•port of Trustè•s strat•9ie report - Lift Up 53 Docusign Envelope ID 4FE6ACB￿2Slc.406E.9l2D.DFB762g0AcDD nnval R•port ofTrust•• strat•9ie report - Build Up 54 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ie rèport- Bvild Up 4. Build Up We will build up our organisation and culture to be dynamic, high performing and values-led- using insights and data to inform and drive us to achieve our purpose. 66 Being a member of RCOT is being part of a community and having contact with occupational therapists in different settings means that you've got access to lots of different resources, lots of information and expertise from different professions. As I go into practice, having the member benefits and the security and support of the organisation is going to make it an invaluable asset." Dan RCOT member 55 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ie r•port - Build Up Responsive to our membership In December 2023, we conducted in-depth research to learn more about what members and prospective members are looking for from their professional body. It helped us understand whether our member categories, benefits and services are delivering impact and identified opportunities for i mprovement. Member research responses to our membership survey 29 in-depth interviews with members and non-members across location, ethnic background, work setting and career stage Market research and external benchmarking Members, engagement level 66% 24% A 10% are highly engaged medium engagement low engagement rates a connection within the past month a connection within the past six months one connection within the past year 56 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ie rèport- Bvild Up Improvements to member benefits and experiences Our digital transformation The trustees approved a programme of activity and investment into digital transformation to modernise the way we communicate and connect with members and to improve access to their benefits and services. Our research showed memberg want access to more tailored resources, information, events and networks relevant to their location. professional development needs, specialism and areas of interest. In spring 2025, we will startto introduce member benefits and improved digital experiences inclLJdi ng.. With younger demographics preferring to engage online- and learners and early career occupational therapists representing ou r fastest growth in membership- investing in digital content and systems will enable us to better meet their needs. a new and more user-friendly website making it easierto find information and resources Digital tools can work better with assistive technology, enable us to personalise content for members and provide us with data and insight about their needs and engagement levels. They also support evidence-based decisions about future improvements. RCOT Communities, an online communities engagement platform to support learning and networking an enhanced member portal and database so we can create more personalised experiences in the futu re improved customer service maki ng it quicker and easierfor members to getthe help and support when they need it. 57 DoGu$ign Envelope ID." 4FE6Ac8￿251¢-496E.9l2D.DFB7629QACDn RCOT l Annual Report of Trustees strat•9ie r•port - Build Up Spotlight Celebrating Specialist Sections as we reimagine communities In December 2023, we embarked on an ambitious project to reimagine our communities. Our 10 Specialist Sections were driven bv dedicated volunteers and offered valuable networking opportunities for the wider membership. Yet only 20% of members joined them and many members told us the additional fees were a barrier. 66 I loved my time with the Specialist Section. We would come together as a committee, sharing, networking, creating learning opportunities and improving the experience for our members. We talked about RCOT needing to move with the times and be more digitally advanced too. The formal constructs of executive committees also alienated some members who felt they needed to be very senior to get involved. We knew we needed to widen access into something new and exciting, with different volunteering opportunities." Amy Howard Former Chair of Specialist Section.. Older People Following extensive stakeholder engagement, surveys and workshops with members and volunteers, we've developed a more inclusive communities, model with professional, practice and regional networks that reflect the professional lives of occupational therapists. These networks will be led by volunteers- building dynamic and thriving communities for our members. 58 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ie rèport- Bvild Up 66 On behalf of everyone at RCOT and our membership past and present, I'd like to say an enormous thank you to everyone who has supported our Specialist Sections over the years. Our communities only succeed thanks to dedicated members who step up to volunteer their time. knowledge and expertise. We have an excellent foundation to build on and many members have been part of our journey to create new opportunities for our communities and volunteers." Odeth Richardson Ishelherl Chair of Board of Trustees Introducing RCOT Communities The new networks will be hosted on RCOT Communities, a new online communities engagement platform that will be more accessible for our diverse membership. A pilot with established groups and Specialist Section and regional volunteers tested its features and functionality with the platform due to launch as part of our wider digital transformation (see page 571. With new communities emerging from the foundations of our Specialist Sections, we concluded their activity in September 2024. 66 It struck me that through this platform, I could connect with occupational therapy practitioners that I wouldn't usually come across in my everyday work, or that wouldn't have been part of the Specialist Sections I was part of." Lisa Westhorpe RCOT member 59 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ie r•port - Build Up What we did 2023-2024 A modern, forward-facing organisation Adopted more sophisticated organisational practices, developed new policies and introduced change projects to improve the way we work. We're now becoming a more modern, forward-facing organisation that is agile and responsive to changing needs and opportunities and building a supportive culture that can adapt, embrace change and strive for continuous improvement. Introduced a new learning management system for staff, bringing together over 40 courses on cyber security, general data protection regulation, equity, diversity and belonging and health and safety. The easy-to-use online system enables us to monitor and review progress, support staff development and ensure our working practices are compliant. We also organised focused development days for team leaders, improving collaboration and effective delivery of our priorities. Harnessed data to put more evidence and insight behind our decisions, enabling us to deliver a better experience for our members and the profession. We also improved operational performance reporting to track progress and identify challenges. ensuri ng our operational activity delivers our strategic priorities. Invested in a reimplementation of our Customer Relationship Management database. to deepen our relationship with members and improve their membership journey and experience with us. We'll be able to use every touchpoint members have with us, to learn about their interests and preferences and continuously improve our member offer in response to changing needs. 60 Docusign Envelope ID 4FE6ACB￿2Slc.406E.9l2D.DFB762g0AcDD strat•9i¢ r•port - Build Up Our commitment to sustainability We commissioned and shared resources supporti ng occupational therapists to consider their impact on climate change and installed energy efficiency measures including new lighting, solar panels and boilers during the refurbishment of Phoenix House, achieving an energy efficiency rating of B. Our hybrid-working approach has reduced our impact on climate change through a reduction in staff travel and printing levels. Completed the refurbishment of Phoenix House and secured tenants for three floors, bringing in rental income to recoup our initial costs and significant revenue for RCOT that we can invest in developing and improving the services and support offered to members. We are still actively marketing and attracting interest from prospective tenants for the fourth floor. Recognised Unite as the union for RCOT staff and signed a voluntary recognition agreement. This set out our commitment for Unite to consult and negotiate with the RCOT Senior Leadership Team, on behalf of RCOT staff, on issues including pay, working hours, holiday and other employment issues. Unite members are represented by staff who've been elected as workplace representatives and who work closely with the established internal network, the RCOT Colleague Forum. We adopted an environmental, social and governance investment policy to ensure our financial investments do not conflict with our vision, purpose or values. This restricts our investments in companies deriving revenues from harmful bLJsiness activity such as gambling, adult entertai nment, fossil fuels, armaments or any business involved in animal testing. 61 Docusign Envelope ID 4FE6AC8B-251C-496E-912D-DF876290ACDD RCOT l Annual R•port of Trust••s strat•9ie r•port - Build Up Spotlight Strengthening our governance With big ambitions for us and the occupational therapy profession, we set out to review our governance to make it fit for purpose so we can deliver the greatest impact. As two related but separate organisations, the British Association of Occupational Therapists IBAOTI and the Royal College of Occupational Therapists IRCOTI, our governance is complex and had not been reviewed for some time. This meant some aspects were out of date, over complicated or not compliant across company, charity and trade union law. In order to safeguard our future, we need to make changes to our governance. Good governance is essential. It is the way an organisation runs, decisions are made and leaders are held accountable for outcomes." Cathryn Holding RCOT Trustee, Industrial Relations 62 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strat•9ie rèport- Bvild Up Working with legal advisers, Council identified ways we could strengthen our governance through a series of recommendations including.. In the same way that we as OTS continually strive to develop our services to make sure they meet the needs of our service users and patients, so the same is true for our professional governance at RCOT. We want to ensure our governance structure is responsive and focused and able to have the greatest impact for our members and the wider profession." Paul Dunning RCOT Trustee, Wales updating the RCOT Articles of Association renaming the RCOT Council to the RCOT Board of Trustees extending the RCOT Board by up to four lay trustees to bring in subject matter experts to gupport and complement the majority elected occupational therapist trustees introducing a People and Nominations Committee to oversee trustee recruitment, succeggion planning and election processes. To help members understand the recommended changes, we ran a series of informal drop-in events that were attended by 27 members and shared focused communications explaining the changes. Docusign Envelope ID 4FE6ACB￿2Slc.406E.9l2D.DFB762g0AcDD RCOT l Annual R•port afTrustè•s strat•9ie report - Build Up Spotlight Building our financial resilience We are committed to growing our membership and making it more d iverse and representative of our population, in line with our EDB Strategy goals and desire for a larger occupational therapy workforce. This year our membership grew overall by 196. This includes the 1,108 new learner members who joined us. Despite pressures in commercial lettings, repurposing the office space as an income generation asset has already created guaranteed income until 2026 to recoup our initial investment and enable us to invest in member services. 66 Like many membership organisations, we saw lower levels of growth than we had forecast. With retention of health and social care professionals a wider issue and many leaving the NHS, there is a risk that members are more likely to lapse their professional membership than before. We've taken tough decisions to realign our costs. spend prudently and build financial resilience through better forecasting and targets so we can continue our ambitious plans for growth, champion the profession and deliver impactful services and experiences for our members." Challenging market conditions have affected both our income generation opportunities and costs. Print advertising is in decline and sector recruitment freezes have affected job advertising income. I nf lationary pressures continue to rise and whilst we have shielded members from these rising costs by keeping fees the same for the third consecutive year, this is not sustai nable in the long term. Satvinder Reyatt Director of People, Finance and Governance RCOT 64 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees What wè'll do nèxt What we'll do next- 2024-2025 As we step up for occupational therapy, we'll focus on the following priorities for the year ahead: Together with our nation-specific advisory groups, launch dedicated Workforce Strategy action plans for England, Northern Ireland and Scotland, reflecting local needs. priorities, influences and opportunities in these nations. Deliver on our digital transformation for members through high-quality, seamless, integrated and personalised digital tools and features. Continue our ED8 journey by recruiting volunteer members to lead ED8 integration in our new practice and regional networks to deepen our impact. We'll develop new learning resources for members to improve cultural competency, so occupational therapists can support people and patients from all backgrounds to achieve comparable health outcomes and publish comprehensive occupational therapy-specific guidance for NCPC Standards. Build a strong and vibrant community of occupational therapists who activelv support the growth of our membership. We'll work with our members to promote and encourage people to consider occupational therapy as a career, ensuring we have a strong pipeline of future occupational therapists who can deliver high quality health and care services. Advocate for more occupational therapists to hold senior roles and contribute to the national movement to bring more care into communities,. i mproving access to preventative care, so more people are supported to stay healthy for longer. Strengthen our governance by improving the RCOT operating rules (Articles of Association) and ensuring our trustees have optimal terms of office to represent our membership. 65 DoGusign Envelope ID 4FF6A¢8￿251c-496E.9l2D.DFB7629QAcDD RCOT l Annual Report of Trustees Principal risks and uncèrtainti•$ Principal risks and uncertainties Delivering our strategy involves risk. Some of these risks come from the external environment we operate in. Other risks are those that we consider part of a 'positive risk-taking, culture, which means we'll consciously engage with some risks so we can embrace change or embark on new opportunities that will help us successfully achieve our ambitions. We view effective risk management as an opportunity to improve the way we work and something that is vital to achieving our vision for members and the wider profession. The Audit, Investment and Risk Committee IAIR Committee) has lead responsi bility for monitoring the major risks across RCOT, assessing their likely impact, likelihood and the mitigations employed to manage such risks. The following reflects the key risks facing the organisation at this moment, all of which are under regular review at AIR Committee and Board of Trustee (Board) meetings. We incorporate the management of risk into our decision-making processes, including functional management and project management. Risk description Rating Measureslmitigations Financial recovery plan to increase income and align spend approved by the Board- monitored monthly by the AIR Committee 2nd the Board. Estzblished four key priority progrzmmes focused on delivering growth and m3ximising impact, including commercial and membership growth, professional leadership and digital transformation. Appointed new investtnent managers for our investment portfolio and agreed a new investment target return of CPI (Consumer Price Index) +3%. Income and financial sustainability Overall income Iprimarily from feegl does not increage in line with projections. We have invested in the repurposing of Phoenix House but were unable to fully occupy the space in line with projected timescales, leaving a shortF311 in our budget. High 66 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Prineipal risks and vne•rtaintiès Risk description Rating Measureslmitigations Launched new benefits for members. increasing the value of their membership. including an online CPD reporting tool, improved access to the digital librarv and resources, a fitness to practice support group and webinars to showcase the full range of support on offer for members. Robustly monitored membership data. Plznned new retention initiztives. No increase in member fees for third year in a row. Diversified our income to reduce our reliance on membership income. Meeting the needs of members Our members. needs are changing and the value provided by our membership offer is at a higher risk during a cost-of-living crisis and when faced with high inflationary pressures. Moderate Governancelcompliance Our governance arrangements had not been reviewed and updated for many years. and we lack diversity of expertise across the functions of the charity at the top level of our governance. Initiated a multi-year governance review. Update to charity Articles enabling recruitment of lay trustees to enhance skills across the Board. New governance policies in place. Changes to tneeting structures and rninutes. Imprc>ved internal understanding of charitable duties. Further details can be found on page 68. Moderate Retention and capacity As part of our financial recovery plan, a cost control approach is being applied which includes a vacancv freeze. There is a risk that capacity ehallenges could lead to high attrition in key roles, including loging gpecièlist expertise and high potential talent. Monthly review of resourcing requirements by RCOT Senior Leadership Team. Talent and succession strategy and plan regularly reviewed. Quarterly priorities set and reviewed regularly to ensure considerations are given to work that can be paused or stopped. Moderate Ongoing data protection improvement programme with SLipport of specialist advice. Policies, procedures and training in place. Implementation of Multifactor Authentication measures. Review of security permissions. New email filtering system. New business continuity plans. Data protertion and cyber security Risk of cyber security or data protection incident mzy affect financial position and could harm members and our reputation. Moderate- High Threats to the profession The current environment is very tough. with massive cuts to the NHS and social care services. There are high vacancy rates In parts of the UK, and in inpatient acute care and mental health services, with significant numbers of occupational therapists leaving the NHS. Published a Workforce Strategy action plan for England alongside the previously published Welsh plan. Established advisory workforce groups In each country to support the delivery of these national plans and workforce reform workshops. Developed a new leadership programrne to address professional development, career progression 3nd policy and PLJblic affairs activities by and for occupational therapists. Moderate Reputational F311LJre to protect OLJr reputation could negatively impact the delivery of our strategy and achievement of our vision. Processes and systems in place tc> allow for rapid response to any emerging repLJtational issue. Clear position statement agreed on geopolitical events. Moderate 67 DoGusign Envelope ID." 4FE6Ac8￿251¢-496E.9l2D.DFB7629QACDn RCOT l Annual Report of Trustees strvetur¢. 9ov•rnane• and mana9èm¢nt Structure, governance and management Legal status The Royal College of Occupational Therapists IRCOTI is a private company limited by shares registered in England and Wales (company no. 013473741 and a charity registered in England and Wales Ino. 2751191 and in Scotland Ino. SC0395731. The company's registered office is Phoenix House, 106-114 Borough High Street, London SEI ILB. The strategic report covers the performance and impact ofthe organisation in 2023-24, for which the Board is responsible. The Board is committed to trangparency and accountability in decision making. The minutes of each meeting are published on RCOT'S website (behind the member paywalll, as is a video interview between the Chair and Chief Executive ref lecting on the most recent meetings of both the BAOT Council and RCOT Board. Trustees are volunteers and are not paid for their work but may claim reasonable expenses incurred through attending meetings or carrying out other duties. The British Association of Occupational Therapists Limited IBAOTI (company no. 003923501 is the holding companyfor RCOT. 8AOT is the professional association and trade union for occupational therapists in the U nited Kingdom IUKI. Recruitment, appointment and induction The Board of Trustees The composition, appointment, election and retirement of trustees are governed by the charity's Articles of Association and the Rules. Under the Articles of Association, the Board may comprise nine 'association trustees, and up to four lay trustees. Trustees can join the Board in two ways.. Role and responsibilities The Board of Trustees (formerly named the RCOT Council) is RCOT'S governing body, with trustees being both company directors and trustees. It is responsible for the charity's mission, values and overall governance and strategic direction. The Board meets a minimum of fourtimes a year and is responsible for ensuring that the charity meets its legal and regulatory obligations in the course of fulfilling its charitable purpose. In 2023-24, the Board met five times. l. Association trustees must be professional members of 8AOT and are elected via the BAOT Council elections, run by an independent scrutineer. BAOT land RCOTI members elect nine Council members 68 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees structvr•, 9oY•rnanc• and mana9•m•nt from the BAOT membership to the BAOT Council. These Council members are then automatically appointed to the RCOT Board. Trustees are elected for an initial three-year term, starting from the Annual General Meeting date, and may serve an additional two years, up to a maximum offive years in total. and ongoing training as needed. The planned People and Nominations Committee will have oversight of ensuring trustees, induction and ongoing training needs are met. Audit, Investment and Risk Committee The Audit, Investment and Risk Committee IAIR Committee) has lead responsi bility from the RCOT Board for.. ensuring that there is a f ramework for accountability,. implementing the investment policy and overseeing the charity's i nvestments,. and reviewing all systems and methods of control, compliance and risk management. The Committee comprises a mix of trustees and other serving independent members who are recruited because of thei r professional and functional expertise. The AIR Committee met four times in 2023-24. 2. Lay trustees are recruited to the RCOT Board via a recruitment and selection process overseen by the People and Nominations Committee on behalf of the Board. Atthe time of writing and publishing thig report, the Charity had no lay trugtees in post, although recruitment was underway the power to appoint lay trustees was a recent change to the charity's constitution as part of the governance review. All trustees are elected or appointed for an initial three-year term, starting from the date of the Annual General Meeting, except for the international trustee who is elected for an initial four-year term to align with serving as the RCOT representative on the World Federation of Occu pational Therapists. Trustees may be appointed or elected for an additional term of up to two years, provided this does not exceed the five-year maximum term. During 2023-24, the significant work of the Committee included oversight of.. tender and recommendation of new investment managers to the Board, and the subsequent transition to new managers arrangements for securing tenants for Phoenix House, including receiving presentations f rom contracted partner Knowlemore The current membership of the Board is set out on page 109. Further details can be found on our website. arrangements for the statutory audit, the relationship with the auditor and the production of the annual report We provide an induction for all new trustees, which includes all of the formal documentg about the governance of RCOT, together with relevant Charity Commission publications and other general guidance aboutthe management and administration of the organisation. They also attend one-to-one meetings with the Chair, Chief Executive and Senior Leadership Team to learn more aboutthe organisation, its management and governance. risk reporting and risk management financial reporting and the budget process a review of the organisation's data protection framework. Trustees attend an annual development day 69 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strvetur¢. 9ov•rnane• and mana9èm¢nt People and Nominations Committee The Chair of the Board carries out the Chief Executive's formal appraisal annually, on behalf of the Board. The Board approves proposals regarding the salary and benefits of the Chief Executive and Senior Leadership Team. The 8AOT Council and RCOT Board of Trustees (Board) have approved the terms of reference for a People and Nominations Committee to support both governing bodies. The Committee will.. On an annual basis. we externally market assess our Chief Executive and Senior Leadership Team salaries using reward specialists who carry out this review using a number of data insight tools Ipersonalised salary benchmarking, best practice reward insights and candidate trend analysisl. The roles are benchmarked against the not-for- profit market in and around London, and the transformational skills and expertise required to deliver RCOT'S strategy. provide strategic leadership and governance oversight on the RCOT people strategy, ensuring that it is consistent with the organisation's values and prescribed culture and supports its long-term sustainable success, including being an employer of choice for talent, development and retention of that talent The People and Nominations Committee will have responsibility for reviewing the Chief Executive and Senior Leadership Team salaries in future. The Senior Leadership Team regularly review their effectiveness as a successful cohesive team and build on opportunities to continuously evolve and improve. oversee specific activities on behalf of the BAOT Council and RCOT Board regarding Chief Executive appointment and Senior Leadership Team remuneration lead the process for elections and appointments to the BAOT Council and RCOT Board. including ensuring plans are in place for succession to Council and the Board. Investment policy Under the terms of the Memorandum of Association, RCOT has the power to invest funds not immediately required to support charitable activities. During the year, Trustees approved an updated Investment Policy, which now oudines our parameters for ethical, social and governance investing, as well as guidelines on risk and return. Appointments to the Committee were still being finalised at the end of the reporting year. Fundraising RCOT does not actively fundraise but does periodically bid for research funding on a modest scale. No donations were received during the year. The policy targets returns of Consumer Price Inflation ICPII +396 (previously CPI +2 % I from the investment portfolio over a seven-year timeframe. Key management personnel The Board delegateg operational planning and day-to-day management of the charity to the Chief Executive, supported by the Senior Leadership Team and staff. The Board oversees the Chief Executive's performance through reports and briefings. In the revised investment policy, RCOT has adopted an ESG (Environmental, social and governance) investment policy to ensure that its investments do not conflict with its aims and the overall values of the occupational therapy profession, which are important to our members. 70 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees structvr•, 9oY•rnanc• and mana9•m•nt The charity prioritises ethical investment practices which form the guiding principals set out in the policy. These principles are adhered to by the investment manager when taking investment decisions on behalf of the charity. Investment portfolio performance and achievements RCOT'S primary investments portfolio during the year was managed by Close Brothers LLP. The portfolio is a diversifi'ed portfolio of investments, typically including fixed-term income products and equities. The returns from the investments were reinvested back into the portfolio during the year. The policy includes restrictions on investmentg in companies deriving revenues from harmful business activities such as gambling, adult entertainment, fossil fuels and armaments, including any business involved in animal testing. The portfolio under Close Brothers performed better than its bespoke Strategic Asset Allocation ISAAI and the ARC Peer Group since its i nception. Primarily, performance was strong in periods between 2019 and 2020. The portfolio has been mostly in line with its benchmarks in the period as the market has been in recovery during the period. However, on average, performance falls below benchmark over the past three years. Against the target return of CPI +20k in the period, performance fell behind expectation, mostly due to high inflation rate in early 2023 and decline of CPI in 2024. In addition tothis, and as part of the Board's commitment to ensuring that our investments are ethical and non-harmful, an additional layer of screening is now required. All investments will be subject to the Morgan Stanley Capital International IMSCII controversial business screening criteria and screening of investments to remove any business that fails to comply with the UN'S Global Compact principal 2, which covers human rights, labour standards, the environment and anti-corruption. See table below for further analysis of the portfolio performance against the agreed benchmark. Portfolio performance vs benchmark Year to date Ito June 20241 Different131 RCOT 1.8% Bespoke SAA Benchmark 1.1% +0.7% ARC Charity 8alanced 1.8% 0.0% Since Inception120181 to 30 June 2024 RCOT 34.496 Bespoke SAA Benchmark 24.1 +10.3% ARC Charity Composite 30.1% +4.396 3 years to June 2024 RCOT i.o% Bespoke SAA Benchmark 0.7% +0.396 ARC Charity Composite 4.0% -3.0% 71 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees strvetur¢. 9ov•rnane• and mana9èm¢nt Note.. During the year, trustees appointed 8arclays Private 8ank as the investment manager for the charity s portfolio. This decision follows a competitive process where Barclays were able to demonstrate a compelling ESG approach to investment which is in line with our ethical investments and sustainability valueg as well ag a rigorous investment strategy. The trangfer of the investment portfolio from Close Brothers to Barclays was completed early June 2024 with Barclays commencing management of the portfolio from 14 July 2024. The performance of the Barclays portfolio will be monitored and reported against our investment objectives la target return of CPI +3%) and against the agreed ESG requirements. The impact of the investing activities and the increasing financial pressures referenced above means that our free reserves at c.£4m is currently outside of our desired target policy range of £5-£8m. We are focused on addressing this challenge through our revised financial strategy, which aims to gradually grow our income and brings our cost base in line with our income levels, creating a road map to building up our reserves from 2025-26. Key performance indicators The performance of RCOT is measured against the plans set out in its long term financial strategy to grow the membership and deliver for the profession. The progress is monitored using financial and non financial performance indicators, the key of which are highlighted below. Reserves policy At RCOT, maintaining a healthy reserve plays a vital role in continuing to meet our charitable objectives and for futureproofing of our long-term plans. The reserves policy aims to safeguard the charity's sustainability and financial resilience. During the year. the policy was updated to retain suffi'cient general reserves (excluding the building asset Phoenix House) within a target range of £5m-£8m to fund strategic objectives. Financial performance is monitored against delivery of either an operating surplus or a deficit in the year against the agreed plan for the period and in the context of the long term financial strategy. Despite the deficit1£2.08ml in the year, we are still on track with our financial gtrategy to deliver surplus from the 2025-26 financial period. We monitor our ongoing market share of HCPC registrants agai nst our ambitious plans to grow the profession. At the 30 September 2024, we maintained a market share of approx 690h, comparable to the previous year. In recent years. we have been using our reserves to invest in deliveri ng improvements for our members and the profession. We have continued advocating and influencing on behalf of our members and continued delivering valuable member services. We have started our plans to introduce new exciting member benefits through our digital transformation initiatives. See page 46 for more information. These activities are central to achieving our ambitious long-term growth strategy., however, we are cautious of the mounting pressure on our finances. See page 64 for more information. 72 DoGusign Envelope ID 4FF6A¢8￿251c-496E.9l2D.DFB7629QAcDD RCOT l Annual R•port of Trust••s strvctvr•, 9oY•rnanc• and mana9•m•nt 73 Docusign Envelope ID 4FF6A¢8￿25Ic-496E.gl2D.DF￿762g0AcDD RCOT l Annual R•port ofTrustees Financial rèvi•w Financial review The Board of Trustees present the results for RCOT for the year 2023-24. The financial statements covering the period l October 2023-30 September 2024 are presented on pages 86 to 106. Our income for the year totalled £8.96m, a slight decrease of Ioh on the prior year s total of £9m. Whilst expenditure on charitable activities reached £10.7m12023.. £10.Iml, an increase of £0.6m. This was offset by a reduction of the same amount in activities on raising funds which totalled £0.41m 12023. £0.97ml. The above results were bolstered by an improved performance from our investments portfolio which started to make a recovery on the prior year's results, producing a surplus of £0.38m on the previous year's breakeven position. However. a further reduction in funds of £0.3m relates to an adjustment to the additions made to the investment property in the year. Despite seeing our operating activities impacted by the difficult challenging economic environment during the year, we have continued to manage the impact of low income growth combined with ongoing inflationary pressures on the delivery of valued member services. Overall. we recognised a net reduction in funds of £2.08m in the period. 74 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Finaneial r•Yi•w Financial performance (snapshot): Unrestricted £'ooo Designated £'ooo Restricted £'ooo 2024 £'ooo 2023 £'ooo Total income 8.410 318 229 8.957 9.020 Total charitable expenditure 19.8081 16761 12291 110.7131 110.0741 Raising funds 14101 (4101 19691 Gain on investment assets 381 381 Losses) l Gains on investment property 12991 (2991 3.239 Transfer between funds 353 13811 28 Nèt movèment in funds for the year 11.3731 17391 28 12,0841 1.216 75 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Financial rèvi•w Income Total income for the year was £8.96m12023.. £9ml and income overall fell by £0.06m. The make-up of the income achieved for the year is illustrated in the chart below.. Totsl income in 2024 11 2024 • 2023 Funding from BAOT Funding from charitable artivities From Investment During the year, RCOT continued to receive the bulk of its funding from BAOT, its parent company, in order to deliver charitable services to the OCCLJpational therapy profession. The funding from BAOT remained consistent with prior year levels at £7.5m. We continue to see a trend of low increase in membership. This is due to a combination of ongoing challenges in the profession, particularly in recruiting and retaining occupational therapists across the sector and the financial effects of the ongoing cost-of-living pressures. These factors have a direct effect on membership uptake during the year and is evidenced by low member growth and retention in recent years. They continue to d irectly impact the level of resource made available to RCOT by BAOT for the delivery of charitable objects. activities fell by £0.3m to £l.Om12023.' £1.3ml. due to a market decline in publication and advertising during the period. Royalties from the British Journal of Occupational Therapy and print and digital advertising revenue from OTnews underperformed against the previous year levels. Whilst income from continuing professional development events and Annual Conference also fell in the period. Investments income grew by £0.2m to £0.44m12023.. £0.21ml. During the year, we started to deliver on our ambitions to re-purpose our building (Phoenix House) for commercial purposes. Whilst progress had been slower than anticipated, income in this area totalled £0.31m12023.. £0.02ml, delivering a surplus of £0.2m on the prior year. A further £0.13m was generated f rom the listed investment portfolio held in the year. In addition to the above performance, income derived from other sources declined during this period. This includes income generated through the delivery of charitable activities and investments. Income from other charitable 76 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Finaneial r•Yi•w Expenditure Total expenditure in the year amounted to £ll.Im in line with the prioryear total12023.. £llml. This performance is made up of the following.. Totsl expenditure in 2024 2024 2023 £5.8 million £5.4 million £5.3 million £4.3 million £0.88 million £0.41 million £0.09 million NIL Member services and support Other charitsble artivities Rasing funds Other charitable artivities During the year, we invested £5.4m 12023.. £4.3ml in the delivery of member services and support, an increase of £lm on the prior year. With this resoLJrce, we continued to provide advisory services and supportto members, introducing some new initiatives such as our award-winning Maximise Your Membership webinars, aimed at promoting the benefits of membership to members during the year. We also started to implement our digital transformation projects, starting with the launch of a new online continuing professional development record ing tool ICPD portfolio), which makes it easy for members to record and store their CPD activities. By 30 September 2024, 8,892 members had signed up to the platform. taking place in the year. We also made editorial decisions to streamline OTnews, our member magazine, which reduced production costs. Despite this, ou r publications continue to see strong reach and engagement across the membership. Our professional practice and innovation activities prod uced a net increase in spend as we prioritised activities wh ich raise the profile of the profession. We continue to provide professional leadership through our accreditation service arnd during this period, also launched our Workforce Strategy and began the NHS England funded workforce reform project. We continued our influencing activities during the election year, includ ing promoting the occupational therapy profession to prospective candidates during the campaign season. Other charitable activities which include journals and publications, conferences and events, as well as professional practice and innovation services, combined totalled £5.3m 12023.. £5.8ml. There has been a reduction of £0.5m in the period, due to fewer events Our charitable activities also includes support costs which are apportioned across the various charitable activities (see note 31. 77 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Financial rèvi•w These costs, which increased to £3.Im12023.. £2.9ml during the year, support the deliverv and management of charitable activities and projects. It is worth noting that this increase is mostly due to the impact of inflationary pressu re on cost of delivering our services in the year. £2. 17m in operating activities12023.' £2.02ml, coupled with a further reduction in investment property of £0.3m12022'. £3.2ml. This performance is offset by gain on investments of £0.38m in the year- see notes 18 to 20 for full details of movement in reserves. The make-up of our £13.5m in total reserves for the 2024 period is illustrated below.. Spending on raising funds allows us to deliver our strategic priority to d iversify our income. The activities in this area, mostly investment and property management fees, contributed to a net spend of £0.41m12023.. £0.97ml. The reduction on the previous year was mostly due to provision for the pension scheme liability which settled in the period. Reserves Overall reserves at the end of the year totalled £13.5m12023.. £15.6ml. This reduction in funds relates mostly to net expenditure of Our charitable funds in 2024 £1.2 million Transformation funds £6.9 million Properties and assets Phoenix House building and £1.1 million RCOT Communities assets. £0.3 million Other funds Includes RCOT ftesearch & Innovation fund, and other restricted funds. £4 million Free reserves 78 Docusign Envelope ID 4FE6AC8￿2slC.4g6E.)l2D.DF￿762gDAcDD stat•m•nt of trust••s' r•sponsibiliti•s Statement of trustees. responsibilities The Board of Trustees are also the company directors of Royal College of Occupational Therapists and are responsible for preparing the Trustees, Report, strategic report and financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). Company law requires trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. Standards have been followed, subject to any departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charitable company at any time and which enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment Iscotlandl Act 2005, the Charities Accounts Iscotlandl Regulations 2006 las amended) and the provisions of the charity s constitution. In preparing the financial statements, the trusteeg are required to.. select suitable accountancy policies and then apply them consistently The trustees are also responsible for safeguard ing the assets of the charitable company and hence take all reasonable steps for the prevention and detection of fraud and any other irregularities. observe the methods and principles in the Charities SORP make judgements and estimates that are both prudent and reasonable. Financial statements are published on the charity s website in accordance with state whether applicable UK Accounting 79 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees stat•m•nt of tru$t••s' rèspon$ibiliti•s legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the charity s website is the responsibility of the trustees. The trustees responsibility also extends to the ongoing integrity of the financial statements contained therein. Statement as to disclosure to our auditors In so far as the trustees are aware at the time of approving our trustees, annual report.. Al there is no relevant audit information of which the charitable company's Auditor is unaware. Bl the trustees have taken all steps that they ought to have taken to make them aware of any relevant audit i nformation and to establish that the Auditor is aware of such information. This report has been prepared in accordance with the special provisions of Part 15 of Companies Act 2006. The Trustees, Report and the Strategic Report was approved and authorised for issue by the Board of Trustees on 10 April 2025. Odeth Richardson Ishelherl Chair of Board of Trustees DoGu$ign Envelope ID." 4FE6Ac8￿251¢-496E.9l2D.DFB7629QACDn RCOT l Annual R•port of Trustè•s Ind•p•nd•nt avditor's rèport Independent auditor's report To the members and trustees of Royal College of Occupational Therapists Opinion We have audited the financial statements of Royal College of Occupational Therapists for the year ended 30 September 2024 which comprise the Statement of Fi nancial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied i n thei r 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 Practicel. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. have been prepared in accordance with the Companies Act 2006, the Charities and Trustee I nvestment (Scotlandl Act 2005 las amended), regulations 6 and 8 of the Charities Accounts (Scotlandl Regulations 2006 las amended) and the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISASIUKII and applicable law. Our responsibilities underthose 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 charitable company in accordance with the ethical requirements that are relevantto our audit of the financial statements in the U K, including the FRC'S Ethical Standard, and we have fultilled our In our opinion the financial statements: give a true and fair view of the state of the charitable company's affairs as at 30 September 2024 and of the incoming resources and application of resources, includ ing its income and expenditure, for the year then ended. 81 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Ind•p•nd•nt avditor's rèport 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. 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. Conclusions relating to going concern In auditing the financial statements, we have concluded thatthe trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 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: 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 charitable company'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. The information given in the trustees, annual reportforthe financial year for which the financial statements are prepared is consistent with the financial statements. The trustees, annual report has been prepared in accordance with applicable legal requirements. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not coverthe other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. We have nothing to report in respect of the following matters where the Companies Act 2006, the Charities Accounts (Scotlandl Regulations 2006 las amended) and the Charities Act 20 1 I require us to report to you if. in our opinion.. 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 materiallv 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, the charitable company has not kept adequate and sufficient accounting records. or returns adequate for our audit have not been received from branches not visited by us., or 82 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Ind•p•nd•nt avditor's rèport the charitable company's financial statements are not in agreement with the accounting records and returns,. or certain disclosures of trustees, remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit,. or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the Trustees, Annual Report and from preparing a strategic report. 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 IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Responsibilities of trustees As explained more f ully in the trustees responsibilities statement, the trustees Iwho are also the directors of the charitable company for the purposes of company lawl 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. 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. Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud The objectives of our audit in respect of fraud, are- to identify and assess the risks of material misstatement of the financial statements due to fraud., to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks., and to respond appropriately to instances of fraud or suspected f raud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company. In preparing the financial statements, the trustees are responsible for assessing the 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 IiqLJidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the f inancial statements We have been appointed as auditor under Section 4411) Icl of the Charities and Trustee Investment1Scotlandl Act 2005, the Companies Act 2006 and Section 151 of the Charities Act 2011 and report to you in accordance with regulations made under those Acts. 83 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Ind•p•nd•nt avditor's rèport Our approach was as follows: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. We obtained an understanding of the legal and regulatory requirements applicable to the charitable company and considered that the most significant are the Companies Act 2006, the Charities and Trustee Investment (Scotlandl Act 2005 las amended), regulations 6 and 8 of the Charities Accounts (Scotlandl Regulations 2006 las amended), the Charities Act 2011, the Charity SORP, and UK financial reporting standards as issued by the Financial Reporting Council. Obtain an understanding of internal control relevantto the audit in orderto design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the charitable company's internal control. We obtained an understanding of how the charitable company complies with these requirements by discussions with management. We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management. Evaluate the appropriateness of accou nti ng policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our aud itor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor s report. However, future events or conditions may cause the charitable company to cease to continue as a going concern. We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations. Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and obtaining additional corroborative evidence as required. As part of an audit in accordance with ISAS IUKI we exercise professional judgement and maintain professional scepticism th roughout the aud it. 84 DoGusign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Ind•p•nd•nt avditor's rèport Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlyi ng transactions and events in a manner that achieves fair presentation. Jonathan Aikens Isenior Statutory Aud itorl for and on behalf of Moore Kingston Smith LLP, Statutory Auditor 6th Floor 9 Appold Street London EC2A 2AP We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant auditfindings, including any significant deficiencies in internal control that we identify during our audit. Moore Kingston Smith LLP is eligible to act as auditor in terms of Section 1212 of the Companies Act 2006. 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., and to the charity's trustees, as a body, in accordance with Section 44111 Icl of the Charities and Trustee Investment (Scotlandl Act 2005, and in accordance with Chapter 3 of Part 8 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the charitable company s members and trustees those matters which 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 any party other than the charitable company, the charitable company's members, as a body, and the charity's trustees, as a body for our audit work, for this report, or for the opinion we have formed. 23 June 2025 85 Docusign Envelope ID 4FE6AC8B_251C_496E_912D_DFB76290ACDD RCOT l Annual Report of Trustees Finaneial stat•m•nt Financial statement Statement of financial activities (incorporating the income and expenditure account) for the year ended 30 September 2024 Unrestricted Designated funds funds £'ooo £'ooo Restricted funds £'ooo Total 2024 £'ooo Total 2023 £'ooo Income and endowments from: Note Charitable activities Member services and support 7,192 273 7,465 7,47 1 journals and publications 434 434 694 Conferences and events 74 24 98 141 Professional practice and innovation 267 21 229 517 501 7.967 318 229 8.514 8,807 Investment income 443 443 179 Other income 34 Total 8,410 318 229 8.957 9,020 86 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Finaneial stat•m•nt Unrestricted funds £'ooo Designated funds £'ooo Restricted funds £'ooo Total 2024 £'ooo Total 2023 £'ooo Expenditure on: Note Charitable activities Member services and SLJpport 4,876 568 5,444 4,298 Journals and publications 881 881 1.016 Conferences and events 803 45 848 1,283 Professional practice and innovation 3,248 63 229 3,540 3,477 9,808 676 229 10,713 10,074 Raising Funds Investment m3n3gement fee 30 30 28 Rental zctivities 380 380 60 Other expenditure Pensions buyout cost 881 Total 10,218 676 229 11,123 11.043 Gain on investment5 assets 13 381 381 ILossl/Gain on investment property 14 12991 12991 3.239 Net lexpenditurellincome 11,7261 13581 12,0841 1.216 Transfer between funds 18 353 13811 28 Net movement in funds 11.3731 17391 28 12,0841 1.216 Reconciliation of funds Total funds brought forward at l October 12.127 3.467 28 15.622 14.406 Totsl funds carried forward at 30 September 20 10.754 2,728 56 13.538 15.622 All amounts derive from continuing activities. All gains and losses in the year were recognised in the statement of financial activities. 87 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Finaneial stat•m•nt Balance sheet as at 30 September 2024 2024 £'ooo 2024 £'ooo 2023 £'ooo 2023 £'ooo Note Fixed assets Tangible assets io 1,661 1.548 Intangible assets li 263 Investments 13 4,998 4.908 Investment propertv 14 5,000 5,000 11,922 11,456 Current assets Debtors 15 2.575 2.062 Cash held as liouid investment 22 1,771 Cash at bankand in hand 22 552 2,119 3.127 5.952 Creditors Amount falling due within one year 16 11.5111 11,7861 Net current assets 1.616 4,166 Net assets 20 13,538 15.622 Share Capital 17 Funds Restricted 18 56 28 Unrestricted Designated 19 2,728 3,467 Others 10,754 12,127 Capital and reserves 13,538 15,622 Approved by Council and authorised for issue on 10 April 2025. uswdty." IdL FD931tTr45BBEA427 Ic son Chair of Board of Trustees Cathryn Holding Vice Chair of 8oard of Trustees 88 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Finaneial stat•m•nt Cash flow statement for the year ended 30 September 2024 2024 £'ooo 2023 £'ooo Note Net cash loutflowifinflow used in operating activities 13,2521 5611 Cash flows from investing artivities.. Investment income 443 179 Amounts paid to acouire investments 15,1041 16,3501 Amounts received from disposal of investments 5.128 5.939 Amounts paid to acquire tangible fixed assets 12541 12,0601 Amounts paid to acquire intangible fixed assets 12671 Additior)s to Investment Property (2991 1241 Net cash from investment activities 13531 12.3161 Change in cash and cash equivalents for the year ended 30 September 13.6051 12.8771 Cash and cash equivalents at the beginning of the reporting period 4.266 7,143 Cash and czsh equivalents for the year ended 30 September 20 661 4.266 Reconciliation of net income to net cash flow from operating activities Net surpluslllossl at 30 September as per the SOFA 12,0841 1.216 Adjustments for: DepreciationlArnortisation 145 117 Loss on disposal of fixed assets Invegtment income 14431 11791 Ilncreaselldecrease in debtors (5131 1.045 Increaselldecreasel in creditors 12751 471 Gain on investments (3811 LossllGainl on investment property 299 13,2391 Net cash used in operating activities 13,2521 15611 89 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Not•s to th• finaneial $tat•m•nt Notes to the financial statement l. Principal accounting policies Royal College of Occupational Therapists is a charitable company limited by shares registered in England and Wales (company no. 013473741,. the charity is registered in England and Wales Icharity no. 2751191 and in Scotland (charity no. SC0395731. b) Going concern The RCOT continues to benefit from funding received from its parent company BAOT. The transfer, which is forthe funding of charitable activities, remains the main source of funding for RCOT. In the year, this accounted for 8396 of income. During the 2023-24 financial period, the funding at £7.47m was the funding received in the previous year. BAOT membership growth has remained consistent in recent times and is expected to continue to grow in coming years. The charity is a public benefit entity and its operations includ ing details of its registered office and principal activities are set out in the Trustees, Annual report. In the opinion of the 8oard, these financial statements comply with Financial Reporting Standard 102 IFRS 1021. RCOT financial strategy aims to diversify its income and over time, reduce the reliance on funding from BAOT. During the year we set out to maintain existing commercial activities whilst developing new income streams. The financial strategy also focuses on maintaining the investment portfolio to achieve long- term returns and realigning the cost base with income levels. Taking this approach, the trugtees are confident thatthe charity can start to build up its resepdes in the f uture. a) Basis of accounting The financial statements of RCOT have been prepared on the going concern basis under the historical cost convention, as modified by the valuation of fixed asset investments and in accordance with applicable Accounting Standards having regard to the Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021, effective 1st January 2019. Companies Act 2006 and Charity and Trustees Investment (Scotlandl Act 2005. During the year, the charity settled its only significant liability. which is the defined benefit scheme Iclosed in 20141. There is therefore no significant financial obligation to settle in the nearest future, see note 8. The Board of Trustees confirm that there are no material uncertainties about the company's ability to continue as going concern. The Board also confirms thatthere are adequate levels of resources available to continue in operational existence for at least 12 months from the signing of the financial statements. The financial statements are prepared in Sterling, which is the functional currencv of the company and the reported amounts have been rounded to the nearest £'OOO. 90 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Not•s to th• finaneial $tat•m•nt c) Income All income is derived from activities within the United Kingdom and is accounted for on a receivable basis, with the exception of donations, which are accounted for when received. Governance and general administration costs represent any costs associated with delivering RCOT'S governance. It includes strategic management costs (not operational ones). These costs are also included in support costs and apportioned as above. Where entitlement to income is dependent upon fulfilment of conditions within RCOT'S control, the income is recognised when there is sufficient evidence that conditions have been met. Where there is uncertainty as to whether RCOT has met such conditions, or the funder clearly states that the funding is for next financial year, then the income is deferred. Costs attributed to Raising funds relates to expenditure associated with other income generating activities outside of charitable activities and membership subscriptions. This currently includes investment management and property management fees and overheads. e) Tangible fixed assets and depre¢iation d) Expenditure Tangible fixed assets with a cost of £1,000 or greater are capitalised Icapitalisation threshold) and are stated in the balance sheet at net book value, being cost less accumulated depreciation and any related impairment. Depreciation is provided at rates that are calculated to write off the cost of each asset, on a straight-line basis levenlyl, over its estimated usef ul life. Rates for the different categories are as follows.. The cost of RCOT'S charitable activities have been grouped underthe following main headings.. Membership services and support- these are costs associated with providing member engagement and insights, member communities, including collection and administration of membership subscriptions. Journals and publications - these are costs associated with communicating with members, whether centrally or regionally, in hard copy or electronic format. These costs largely represents the production and editorial costs of BJOT and OTnews magazine. RCOT premises 296 per annum on cost Fixtures and fittings 10 % per annum on cost Conferences and events - these costs relate to the organisation, promotion and administration of events. Office equipment 20% per annum on cost IT equipment 33.33 % per annum on cost Professional practice and i nnovation these are costs within the areas of research and development, education and for provision of professional practice activities. Freehold land is not depreciated. Phoenix House, the headquarters of RCOT is located at IO&-114 Borough Nigh Street. London. The building is now primarily held for the purpose of carryi ng out rental activities and partly for RCOT charitable activities. The building is represented in the balance sheet between fixed asset IRCOT premises), held at cost less depreciation and investment property (see note h), held at fair value. Direct expenditure is allocated to each of these categories of activity. Where expenditure cannot be directly allocated, it represents support costs and is apportioned on a basis consistent with the use of resources - bv reference to the number of full-time equivalent members of staff. 91 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Not•s to th• finaneial $tat•m•nt RCOT premises represents the floor area used to carry out RCOT activities and its shared communal area. g) Investments Investments are included in the balance sheet at latest market value at the post balance sheet date. Any unrealised gains or losses are included in the Income and Expenditure Account. The investment portfolio is professionally managed on the Groups behalf by professional fund managers in accordance with the Group Investment Policv. f) Intangible assets and amortisation All intangible assets with a cost of £1,000 or more are capitalised and recognised. when future economic benefi'ts are probable, and the cost or value ofthe asset can be measured reliably. All costs incurred in developing and bringing the intangible assets i nto its intended working condition are included in the measurement of the cost. Intangible assets that are not readily available for use, such as still being developed are classified as 'Assets U nder Construction, until the asset becomes available for use. h) Investment property The investment property is recognised in the balance sheet as at fair value. The valuation method used to determine fair value of the investment property will be stated in the notes to the financial statements and any gains and losses are included in the income arnd expenditure account. Amortisation is carried out on a systematic basis over the useful life of the asset, and only from when the intangible asset becomes available for use. i) Funds Restricted funds are grants or donations given by a grant provider or donor with performance conditions attached that must be met, before income can be recognised in the Income and Expenditure Account. They are held in the balance sheet as Restricted Fund Reserves until the performance conditions are met. Useful life of the intangible assets is based on the pattern in which the business intends for the future economic benefits of the asset to be consumed. Each intangible assets, usef ul life will be reviewed annually and may be shortened, and the relevant amortisation accelerated and recognised as a cost as required. Unrestricted funds are available for use by the company to further its objects. Certain unrestricted funds are designated by Council to be used for particular purposes. The categories of designated reserves and the values designated can be changed by Council at a later date. The different categories of intangible assets recognised during the year and their estimated useful life are as follows.. Member systems and database 5 years. j) Liquid assets Liquid assets are cash, or assets that can be converted into cash very q uickly, generally because there is an enduring demand from buyers and because their realisable value is known with a high level of reliability. Website and member portal 5 years. Assets under construction Inot available for ugel not amortised. k) Pensions RCOT operates a defined contribution scheme for staff as part of its employee benefits package. This includes ongoing contractual obligations for the employer to contribute 92 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Not•s to th• finaneial $tat•m•nt towards the staff members. pension pots until they cease being an employee. 8y definition, the employer has no contractual obligation to create or maintain the pension pot values, but does have an obligation for the employer contribution rates payable. relevant assets and or liabilities have been considered in preparing the financial statements: Useful economic lives- the annual depreciation charge for tangible fixed assets and intangible assets is sensitive to change in the estimated useful economic lives and residual value of assets. These are re-assessed annually and amended where necessary to reflect current circumstances. In the past, the company provided a defined benefits scheme for employees. This scheme was closed to employees in June 2014. The final settlement of the liability of £88 1, 167 was settled during the year (see note 81. Investment property-the Charity's only investment property is the portion of its building (Phoenix House) that is use for non commercial lettings purposes. This asset has been recognised in the Balance Sheet at market value of £5m. The propety had been valued based on the valuation carried by Cluttons LLP late 2023. The trustees have assessed this valuation taking into consideration the current property market prices for similar properties in the same area and have decided to retain the valuation in 2023 for reporting purpose in the current period. l) Recognition of liabilities Forthe fi'nancial year being reported, where goods and sepdices were provided to the company by agreement, or contractual obligations otherwise arise and invoice processing has not yet occurred, accrued expenses are recognised in the Income and Expenditure Account. VAT costs are also accrued for to the extent they cannot be recovered. m) Grants Where the company makes grants to an external party, such grants are recognised in the year in which they are paid. In addition, it also administers a num ber of restricted funds which make grants each year. These restricted fu nd grants are charged in the year in which they are paid. Details of grants paid are available on the company website. o) Cash & cash equivalent Cash and cash equivalents include cash in hand and current and fixed term bank deposits maturing in less than 30 days. p) Financial instruments The trustees have elected to apply the provision of Section 11 'Basic Financial Instrument's and Section 12 '0ther Financial Instruments Issues of FRS 102 to all of its financial instruments. Financial instruments are recognised in the balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. With the exceptions of prepayments and deferred income all other debtor and creditor balances which are considered to be basic financial instruments under FRS 102. Isee notes 15 and 16 for detailsl. n) Accounting estimates and areas of judgement The trustees recognise that in fulfilling their obligations, they are required to ensure that 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. During the yearthere were no accounting estimates or assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. The following estimates and assumptions including their effect on the carrying value of 93 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Not•s to th• finaneial $tat•m•nt 2. Charitable activities Support costs (see note 31 Dirert costs Totsl 2024 £'ooo Total 2023 £'ooo £'ooo £'ooo Unrestricted funds Member services and support 3,734 1.142 4,876 4.030 journals and publications 670 211 881 1,016 Conferences and events 576 227 803 1.249 Profession31 practice and innovation 1,755 1,493 3,248 3,171 Total unrestrirted 6,735 3.073 9,808 9.466 Designated funds Member services and support 568 568 268 journals and publications Conferences and events 45 45 34 Prc>fessional practice and innovation 63 63 40 Total designated 676 676 342 Restricted funds Prc>fessionzl practice and innovation 229 229 266 Total restrirted 229 229 266 Total charitable activities 7,411 3,073 10,713 10,074 Raising funds During the year, costs associated with raising funds amounted to £0.41m12023'. £0.97ml and relate primarily to the operational costs incurred in carrying out rental activities and management fees charged by investment portfolio managers. 94 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Not•s to th• finaneial $tat•m•nt 3. Support cost 2024 £'ooo 2023 £'ooo Support staff 896 1,004 Facilits'es and infrastructure 1.289 1.090 Depreciation 145 116 General adrninistration 535 581 Governance cost Isee note 41 208 127 Total support costs 3.073 2.918 4. Auditor's fees Governance costs include the RCOT auditors fee of £21,45012023.. £20,450) for audit work. 5. Staff cost 2024 £'ooo 2023 £'ooo Salaries 5.368 4.550 Social security costs 560 502 Pension cogts 449 372 Employee benefits 137 130 Sub total cost of staff employed 6.514 5,554 Temporzry staff 310 Recruitment 145 318 Training 57 io Total staffing costs 6.797 6,192 Included in gtaffing costs are ex-gratia and redundancy payments of £20,737 relating to a staffing change in the period,12023.. £169,817). The average monthly numbers employed in the year were as follows: 2024 2023 numbers numbers Charitable activities 84 56 Support 3Ctivities 22 36 106 92 95 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Not•s to th• finaneial $tat•m•nt The remuneration of the higher paid employees fell within the bands: 2024 2023 numbers numbers £60.001 - £70.000 17 18 £70,001 - £80,000 £80.001 - £90.000 £90.001- £100.000 £ioo.ooi - £iio.000 £110.001 £120.000 £130,001- 140,000 Remuneration and benefits paid to key management personnel during the year: 2024 £'ooo 2023 £'ooo Salaries 638 586 Social Security Costs 79 76 Pension costs 48 46 Employee benefi.ts Total remuneration and benefits 769 713 During the year, key management personnel comprised of the Chief Executive and five directors who manage key business areas. Collectively they represent the senior leadership team. 6. Trustees expenses All trustees can claim for travel, subsistence and other expenses. The total amount of expenses reimbursed to nine trustees during the year was £4,00612023.' nine trustees reimbursed £5,806). Trustees did not receive any remuneration for carrying out their duties. 8. Pensions buyout In the year, the buy-out of the pensions scheme was completed by transferring the final salary pensions scheme liabilities of £0.88m to Aviva. The winding up of the pensions scheme is now in its final stages, subject to the agreement of the deed of termination,. final arrangements for the pensions scheme trustees indemnity and notices to be provided to the Pensions Regulator as legally required. These outstandi ng activities are expected to be completed early 2025. RCOT paid £6,27212023.. £5,6001 to provide Charity Trustee insurance cover. 7. Taxation RCOT is a registered charity and is not subject to Corporation Tax on income arising from its charitable activities. 96 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Not•s to th• finaneial $tat•m•nt 9. Pension costs RCOT operated a defined benefit pension scheme for qualifying employees in the LJK. This scheme closed in June 2014 to all new entrants and f urther accrual. The disclosures set out below are based on calculations carried out as at 30 September 2024 by a qualified independent actuary. The main assumptions used for the purposes of FRS102 are lin nominal terms).. 3010912024 3010912023 Discount rate 5.25% 5.4096 Expected return on scheme assets 1.25% 1.2596 Pension increases in payment at the 5% LPI rate based on RPI 2.50% 2.5096 Pension increases in payment at the 2.5% LPI rate bzged on RPI 2.25% 2.30% RPI 3.45% 3.55% cpi 2.9586 3.0096 Expected retum on assets The assets of the scheme and the net expected long-term return on these assets are.. At 3010912024 £'ooo At 3010912023 £'ooo Insured annuity contracts 8.963 Cashlother 18 Total fair value of assets 8,981 Reconciliation of the present value of scheme liabilities and fair value of assets to the assets and liability recognised in the balance sheeL" At 3010912024 £'ooo At 3010912023 £'ooo Fair value of asgetg 8,981 Value of liabilities Idetined benefit obligation) 18.9641 Funded status 17 Surplus restrirtion 1171 Recognised pension liability 97 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Not•s to th• finaneial $tat•m•nt The excess I'surplus'l of the fair value of scheme assets over the present value of the scheme liabilities can be recognised as an asset of the employer in the employer s balance sheet only in so far as the employer is able to recover this surplus (either through reduced contributions in the future or through refunds from the scheme). Where the employer cannot recover the surplus, then the employer cannot recognise any of the surplus as an asset. In these circumstances, the pension scheme is shown as 'nil' value on the employer's balance sheet. The company s defined benefit scheme was closed to new entrants and to future accrual with effect from 30 June 2014. Total expense recognised in the statement of financial activities (SOFA): At 3010912024 £'ooo At 3010912023 £'ooo IntÈrÈst cost on obligation Restriction on expected return on assets Total SOFA Charge Changes in the present value of the defined benefit obligation: At 3010912024 £'ooo At 3010912023 £'ooo Opening defined benefit obligation 8.964 9.857 Interest cost on obligation 277 482 Remeasurement Igainsl and losses - actuarial Igainsl and losses 64 19221 8enefits paid (1451 14531 Settlements 19.1601 Closing defined benefit obligation 8,964 Changes in the fair value of scheme assets: At 3010912024 £'ooo At 3010912023 £'ooo Opening fair value of scheme assets 8.981 9,882 Interest income 278 483 RemeasLJrement Ilossesllgains - return on scheme assets excluding interest income 74 19321 Refund to employer 1281 enefits paid 11451 14531 Settlements 19.1601 Closing fair value of scheme assets 8,981 98 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Not•s to th• finaneial $tat•m•nt Total amount taken to other comprehensive income: At 3010912024 £'ooo At 3010912023 £'ooo Actuarial return on scheme assets - Ilossesllgains 352 14491 Less.. amounts included in the net interest on the defined benefit liability Remeasurernent Ilossesllgains - Return on 5cherne asset5 excluding interest income (2781 14831 74 19321 Remeasurernent gainslllogsesl artu3ri21 gaing 2nd (Ios5egl 1921 922 Surplus restriction Remeasurement Ilossesllgains recognised in other comprehensive income 18 io 10. Tangible fixed assets RCOT premises Fixtures & fittings £'ooo Office equipment £'ooo IT equipment £'ooo Total £'ooo £'ooo Cost At l October 2023 2.007 137 22 322 2.488 Additions during year 172 254 At 30 September 2024 2,018 309 22 393 2.742 Depreciation At l October 2023 667 136 116 940 Charge for the year 40 93 141 At 30 September 2024 707 143 22 209 1,081 Net Book Value At 30 September 2024 1,311 166 184 1.661 At 30 September 2023 1,300 15 29 1,351 All assets are used for the charitable activities of RCOT. 99 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Not•s to th• finaneial $tat•m•nt 11. Intangible fixed assets Member systems and database £'ooo Asset under construction £'ooo Total £'ooo Cost At l October 2023 Additiong during yezr 20 247 267 At 30 September 2024 20 247 267 Amortisation At l October 2023 Charge for the year At 30 September 2024 Net Book Value At 30 September 2024 16 247 263 At 30 September 2023 All assets are used for the charitable activities of RCOT. 12. Capital commitments Capital commitments at period end amounts to £0.71m12023.. £Nill. This relates to the contractual cost of the d igital transformation projects expected to conclude in 202 5. 13. Fixed assets investments Market value 0111012023 £'ooo Disposal proceeds £'ooo Net Gainl Market value Ilossesl | 3010912024 £'ooo £'ooo Additions £'ooo UK eouities 552 2.577 16021 25 2.552 Altematives 280 182 12801 193 Fixed incc>me 2,076 1,841 12.1271 44 1.834 Overseas equities 1.624 504 12.1191 301 310 Subtotzl 4,532 5,104 15.1281 381 4.889 Cash held in investment portfolio 376 109 Total 4,908 4.998 The total cost of investments held by RCOT at 30 September 2024 was £4,738,35112023.. £4,861,304). 100 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Not•s to th• finaneial $tat•m•nt 14. Investment property £'ooo Valuation At l October 2023 5.000 Additionslldisposall 299 Loss on valuation 12991 At 30 September 2024 5,000 The value of the freehold property (Phoen ix House) located at 106-114 Borough High Street at 30 September 2024 was valued at £7m of which £5m of the valuation relates to the portion of the property held for the purpose of carrying out rental activities. This valuation was conducted by Cluttons, external valuers, as defined in RICS Valuation Global Standards 2020 (The Red Bookl. The trustees have considered the assessment of the valuation of the property obtained in the previous financial year, and are satisfied that this valuation is appropriate for reporting purposes in the cu rrent period. The valuation of the investment propertv produced an unrealised loss of £0.3m', this represents the additions being fit-outs and development costs incurred during the year. 15. Debtors 2024 £'ooo 2023 £'ooo Amounts due within one year Trade debtors 207 121 Other debtors VAT debtor ioi 310 Prepayments and accrued Income 480 340 Atnount duefrom BAOT 1.785 1.289 2,575 2,062 101 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Not•s to th• finaneial $tat•m•nt 16. Creditors 2024 £'ooo 2023 £'ooo Amounts due within one year Trade creditors 221 230 Taxes & social security 151 157 Pensions buyout liability 881 Other creditors 93 57 Accrued & deferred income 1.046 461 1,511 1,786 The amount of Deferred Income atthe beginning of the year was £92,965. During the vear, the whole of this amount was released to the SOFA, while a further £297,740 of income was created. The balance of Deferred Income at 30 September 2024 was £297,740. The income mainly relates to RCOT'S obligation to deliver services and advertising. 17. Share capital 2024 £'ooo 2023 £'ooo Authorised ordinary shares of £1 each loo loo Allotted and fully paid ordinary shares of £1 each DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Not•s to th• finaneial $tat•m•nt 18. Restricted funds Balance | 0111012023 £'ooo Transfers Balance loutllin | 3010912024 £'ooo £'ooo Income £'ooo Expenditure £'ooo ISP Annual Award 18 18 ISP Scholarship Elizabeth Casson Elizabeth Casson PD Health Education England - Neonatal Sheila May Eden Legacy 18 18 Ann Carnduff Legacy io io NHSE Workforce reform 229 229 28 229 229 28 56 All of the grants paid under resources expended were awarded to individuals. The purpose of each restricted fund held is as follows.. Health Education England- Neonatal: this project is for developing resources for member's learning. "Sheila May Eden Legacy.. legacy donation towards travel costs for students. ISP Annual Award.. provides support for individual occupational therapists towards a research activity in a topic relevant to occupational therapy. mental health and social psychiatry. ** Ann Carnduff Legacy.. legacy donation towards the learner forum. NHSE Workforce reform.. funding awarded to deliver specific project work to help shape the future of the NHSE Workforce. ISP Scholarship.. provides support for doctoral or early post-doctoral research activity which is relevant to occupational therapy and social psychiatry. During the year, transfer to restricted funds from general reserve¥ of £28.000 is in recognition of restricted donations of £18.000 from the Sheila May Eden Legacy and £lO.000 from the Ann Carnduff Legacy. This transfers aligns with the requirements of the funders. Elizabeth Casson- provides a contri bution towards the digitisation of back copies of the British Journal of Occupational Therapy. Elizabeth Casson PD.. the Elizabeth Casson Trust in collaboration with RCOT'S UK Occupational Therapy Research Foundation provides an annual grant of up to £10,000 for three years to support BAOT members who are early stage post-doctoral researchers. 103 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Not•s to th• finaneial $tat•m•nt 19. Designated funds Balance 0111012023 £'ooo Incoming resources Resources expended £'ooo Transfers loutllin £'ooo Balance 3010912024 £'ooo £'ooo College branches 1,056 318 12151 1,159 RCOT Research Foundation 364 1631 301 Transformation project 1,766 13981 iiooi 1,268 Building project 281 12811 3,467 318 16761 13811 2.728 The College branches funds are held for specific activities relating to geographical and clinical specialism groups. During the year the plan to introduce new ways of working for branches was announced- The aim of this fund is to increase research capacity and capability within the profession and advance building the evidence base for occupational therapy by supporting the development of the next generation of occu pational therapy researchers and research leaders and creating a community of occupational therapy researchers to support members to learn with and from each other. Specialist Sections and regional groups will transition from the existing way of working to a new Communities model which will be adopted from 2024-25. RCOT members will not incur additional subscriptions charges to access the new communities model. The Transformation project fund is to support our fi've year strategic plan, focused around separate transformation projects as identified within RCOT strategic priorities. A digital communities platform is being developed, alongside a new structure for volunteers and a detailed plan of activities, events and resources which will be developed and communicated in the f uture. The building project fund was designated to support our project to transform our building into viable commercial space with the view to generating commercial rental income. Council has agreed that the existing fund will be renamed- RCOT Communities, to reflect the new way of working and for the balance of the fund at 30 September 2024 c.£1.16m to be ring-fenced and re-purposed for the delivery of future communities activities for the collective benefit of all RCOT members. During the year, £0.28m was transferred from the Building project fund towards the fi't-outs and development of the office space in line with tenancy agreements signed during the year. A further £IOO,000 was transferred from the Transformation project fund towards the ongoing development intangible assets u nder construction. The RCOT Research Foundation provides grants to build an evidence base for occupational therapy by supporting research into the effectiveness and cost-effectiveness of occupation- focused interventions. 104 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Not•s to th• finaneial $tat•m•nt 20. Analysis of net assets between funds Tangible Net current assets Intangible assets assets Investments Total £'ooo £'ooo £'ooo £'ooo £'ooo Restricted funds 56 56 Designated funds 2.728 2.728 Unrestricted funds 263 6,661 4,998 11,1681 10.754 Net assets btheen funds at 30 September 2024 263 6,661 4.998 1,616 13,538 Prior year. Tangible fixed assets £'ooo Net current assets £'ooo Investments £'ooo Total £'ooo Restricted funds 28 28 Designated funds 3,467 3,467 Unrestricted funds 6,548 4,908 671 12,127 Net assets between funds at 30 September 2023 6,548 4,908 4,166 15.622 21. Reconciliation of movement in share capital and charitable funds 2024 £'ooo 2023 £'ooo ILossllgain for the financial year 12,0841 1,216 Shareholders, funds at l October 15.622 14.406 13.538 15.622 22. Analysis of changes in net funds At 0111012023 £'ooo Cashflows £'ooo At 3010912024 £'ooo Cash dt bank aiid iii hand 2,119 11,5671 552 Cash held as liquid investment 1.771 11.7711 Cash held in investment portfolio 376 12671 109 4,266 13,6051 661 105 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees Not•s to th• finaneial $tat•m•nt 23. Parent Undertaking and ultimate controlling party The parent undertaking and ultimate controlling party of the company is the British Association of Occupational Therapists Limited I'BAOT'I. The principal activity of BAOT is that of a Professional Association in the field of rehabilitation medicine. BAOT aims to promote occupational therapy education and honou rable practice,. to provide facilities for the advancement of the science of occupational therapy by the widest possible distribution of information through meetings. discussions and debate,. and to issue relevant papers and periodicals on occupational therapy. BAOT is a registered Trade Union. Registered office: 106-114 Borough High Street. London SEI ILB Company number: 00392350 24. Related party transactions All members of the Board of Trustees are algo members of BAOT Council, the parent undertaking of RCOT. BAOT exercise control of RCOT by holding the whole of the share capital. see note 17. Foundation Trust for the secondment of Odeth Richardson forthe role of Chair of RCOT Board of Trustees and BAOT Council. The secondment charges amounted to £15,000 and are back dated to 2022. They are reported as governance costs. The Trustees pay their individual member subscriptions at the nominal rates and carry no special rights or privileges. In addition, as part of their work, Trustees may attend courses provided and receive journals produced by RCOT. These services are all provided on an arm s length basis at normal rates. Occupational therapists employed by RCOT have their subscriptions paid to BAOT by RCOT. These subscriptions, which were paid at normal rates totalled £4,141 for the year,12023.. £5,126). The balance of income over expenditure is paid to RCOT, a wholly owned subsidiary. This is in line with Council decision. The amount to be transferred for the year ended 30 September 2024 is £7.495,607 12023 owed to RCOT- £7,658,968). The outstanding balance owed from RCOT at the year end is £1,785,16212023.. £1,289,5561. The total amount of expenses reimbursed to nine Trustees during the year was £4,006.12022.. £5.1261. During the period, RCOT agreed with Newcastle upon Tyne Hospitals NHS 25. Contingent liability The RCOT Research Foundation fund is used to award grants for research projects and other similar purposes Isee note 181. These grants constitue a contingent liability as they are subject to agreed performance related conditions being met such as a specific service andlor output to be delivered. The grant is settled and therefore recognised in the SOFA only when satisfactory evidence of the conditions being met has been provided by the receipient. At 30 September 2024, the value of grant commitments (being grants awarded which represents contingent liability) at the reporting date amounts to £225,037. 106 Docusign Envelope ID 4FF6A¢8￿25Ic-496E.gl2D.DF￿762g0AcDD RCOT l Annual R•port ofTrvst••s Not•s to th• finaneial $tat•m•nt 107 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees L•gal and administrativ• information Legal and administrative information Company details Royal College of Occupational Therapists Professional advisors Fund managers Close Brothers Asset Management (part of Close Brothers G roup plcl, 10 Crown Place, London, EC2A 4FT. Iuntil 30 lune 20241 Barclays Private Bank, I Churchill Place, London, E14 5HP. (From I July 20241 Rathbones, 8 Finsbury Circus, London, EC2M 7AZ Auditors Moore Kingston Smith LLP. 6th Floor, 9 Appold Street, London, EC2A 2AP A charitable company limited by shares registered in England and Wales (company no. 013473741, incorporated on 10 January 1978. A charity registered in England and Wales Ino. 2751191 and in Scotland Ino. SC0395731. Bankers HSBC Bank PLC, 15-17 Praed Street, Paddington, London, W2 INJ The organisation is governed under its Articles of Association Ilast amended June 20241 which establish the objects and powers of the organisation. Bank of Scotland, 75 George Street, Edinburgh, EH2 3EW Insurance brokers Towergate Underwriting Group Ltd, 2 Minster Court. Mincing Lane. London. EC2R 7PD Solicitors DAC Beachcroft LLP, 25 Walbrook, London. EC4N 8AF Registered office Phoenix House, 106-114 8orough High Street, London, SEI IL8 Bates Wells (Governance Review), 10 Queen Street Place. London, EC4R IBE AON UK Ltd, 122 Leadenhall Street, London. EC3V 4AN Patron HRH The Princess Royal, GCVO Pension provider - defined contribution scheme Legal and General Pensions Ltd (part of Legal & General Group plcl, I Coleman Street, London. EC2R SAA 108 DoGUSign Envelope ID." 4FE6AC8&251C496E.912D.DFB76290ACDD RCOT l Annual Report of Trustees L•gal and administrativ• information RCOT Board of Trustees Name Council role Changes in reporting period Dr Anita Atwal esearch and Development NIA Neil Carnegie Scotland Elerted- 27 lune 2024 Paul Dunning Wales NIA Aisling Durkin Elected- 27 lune 2024 Samantha Flower Scotland Retired- 27 June 2024 jacqueline Gordon England Elected- 27 lune 2024 lanine Hackett Learning and Development Elected- 27 lune 2024 Cathryn Holding Industrial Relations NIA Kalimah Ibrahiim England Reti￿d- 27 June 2024 Dr Sure5hkumar Kamalakannan International Affairs Elected- 27 lune 2024 Dr Kee Hean Lim Vice Chair, International Affairs Retired - 27 June 2024 Andrea Lothian Learning and Development Retired- 23 February 2024 Odeth Richardson Chair Elerted- 27 lune 2024 RCOT Chief Executive and Senior Leadership Team members Name ouncil role Changes in reporting period Steve Ford Chief Executive and ompany Secretary NIA Karin Bishop Director of Movement Building and Membership NIA Clare Cochrane Director of Brand and Marketing NIA Karin Orman Director of Practice and Innovation NIA Safvinder Reyatt Director of People, Finance and Governance NIA Rob Smyth Director of Strategy. Technology and Transformation NIA 109 Docusign Envelope ID 4FE6AC8B_251C_496E_912D_DFB76290ACDD RC Royal College of Occupational •T Therapists We're RCOT, the Royal College of Occupational Therapists. We've championed the profession and the people behind it for over 90 years; and today, we are thriving with 36,000 members. Then and now, we're here to help achieve life-changing breakthroughs for our members, for the people they support and for society as a whole. rcot.co.uk 2025 Royal College of Occupational Therapists. A reg15tered charity In England and Wale5 (No. 2751191 and in Scotland INO. SC0395731 and a company registered in England and Wales (No. 013473741